Loan Application Form

Firmus Retail Services Limited

TERMS AND CONDITIONS

These Terms and Conditions apply to and regulate the provision of credit facilities advanced by Firmus Retail Services Limited (“FirmusRSL”) to the Borrower herein:

1. INTEREST

• The monthly interest rate for the Loan is fixed for the tenor of this loan as communicated via the repayment schedule approved and agreed by customer at the
  point of disbursement.
• A 5% interest rate of the outstanding principal amount shall be applied in the event of the Borrower liquidating the loan before expiration.

2. PAYMENT

All payments by the Borrower will be made by one of the following methods:
Personal Cheque, Standing Order, or through an acceptable electronic channel. All other methods will be accepted with FirmusRSL’s consent only.

• The Borrower will be given a dedicated and customized repayment plan upon approval of the loan application;
• The Borrower will be expected to make monthly repayments in accordance with the repayment plan; and
• The Borrower hereby agrees that nonpayment of the amount owed by the due date
  shall render the Borrower in default and entitles FirmusRSL to take steps to recover
  the outstanding loan amount in accordance with section 5below.
• In cases where the Borrower makes a direct transfer in advance of due date,
  FirmusRSL reserves the right to destroy all cheques not retrieved within thirty
  days after the expiration of the loan.

3. CREDIT REFERENCE

• Firmus or its duly authorized agents will utilize a dedicated Credit Agency for a credit report on the Borrower in considering any application for credit.
• The Borrower authorizes FirmusRSL to access any information available to FirmusRSL as provided by the Credit Agency.
• The Borrower also agrees that the Borrower’s details and the loan application
  decision may be registered with the Credit Agency.

4. NOTICES

The Borrower agrees that FirmusRSL may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:
To the most recent physical address FirmusRSL holds for the Borrower on file

• By delivery to any email address provided during the application process.
• By delivery of an SMS to any mobile telephone number the Borrower has provided to FirmusRSL

5. EVENT OF DEFAULT (PLEASE READ CAREFULLY)

Default in terms of this Agreement will occur if:

• The Borrower fails to make any scheduled repayment in full on or before the payment date in accordance with the monthly repayment plan given to the Borrower;
• Any representation, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or
• The Borrower does or omits to do anything which may prejudice FirmusRSL’s rights in terms of this Agreement or causes FirmusRSL to suffer any loss or damage.
  In the event of any default by the Borrower subject to the clauses above –
• FirmusRSL shall apply a 1% flat default charge daily on overdue principal until
  account is madecurrent.
• Firmus reserves the right to notify the general public (including, but not limited to
  employer) in the event of default ornon-repayment.
• Firmus reserves the right to assign its right, title and interest under the Agreement to an external Collections Agency who will take all reasonable steps to collect the outstanding loan amount.
• FirmusRSL also reserves the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.
• The Borrower shall be responsible for all legal costs and expenses incurred by FirmusRSL in attempting to obtain repayment of any outstandingloan balance owed by the Borrower. Interest on any amount which becomesdue and payable shall be charged.

6. GENERAL

• This Agreement represents the entire understanding between Firmus and the Borrower. No amendment shall be made unless same is agreedin writing by the parties.
• The Borrower agrees and undertakes that for the period of thisAgreement, the Borrower will not close the Borrower’s specified bankaccount.
• This Agreement shall be governed by the laws of the Federal Republic of Nigeria and shall be subject to the jurisdiction of the courts of theFederal Republic of Nigeria.
• If FirmusRSL does not strictly enforce its rights under thisAgreement (including its right to insist on the repayment of all sums due onthe Repayment Due Date) or grant the Borrower an indulgence, FirmusRSL will not be deemed to have lost those rights and will not be prevented from insisting upon its strict rights at a laterdate.
•  FirmusRSL reserves the right to transfer or assign its rights and obligations under this Agreement (including its obligation to lend money to the Borrower or the amount owed under this Agreement) to another person.
• FirmusRSL will only inform the Borrower if such a transfer causes the arrangements for the administration of this Agreement to change.
• The Borrower authorizes and consents to all lawful access, use or disclosure of the
  Borrower’s particulars in the application by Firmus which may include but shall not be limited to purposes necessary to promote or sustain the business of FirmusRSL; and the Borrower waives anyclaims the Borrower may have against Firmus arising from any such access, use or disclosure.
• Applicants/Borrowers that submit fake or fraudulent documentationshall be reported to appropriate regulatory bodies including, but not limited to the Nigerian Police, for
  prosecution and/or any other penalties as the regulatory body deems fit.
• The Lender (FirmusRSL ) reserves the right to review, verify and screen all details,
  including but not limited to the loan amount applied for by the Borrower and the Lender is not bound to grant the exact loan amount applied for by the Borrower.