These terms and conditions apply to and regulate the credit services provided by Skypesa Microfinance to borrowers through its "Skypesa" service. These terms and conditions constitute the lender's offer and set out the terms of this agreement. References to Skypesa herein pertain to the Skypesa application, a service provided by Skypesa Microfinance. By accepting this plan, you will set up an account within the Skypesa application, and you agree that you have read and understood these terms and conditions. You authorize the lender to review your credit report, and you understand that this account is subject to transaction fees and default penalties, and is governed by the laws of the Federal Republic of Kenya.

You also agree to adhere to the additional policies applicable to you, including:

• Privacy Policy
• Term of Use
• Consent to Electronic Disclosures (Electronic Signature Disclosures and Agreements)

When applying for a loan, you will be required to provide information such as your date of birth and your ID information. This information is used for verification purposes.

1. Definitions

In this agreement:

• "You," "your," "customer," and "borrower" refer to the person applying for this account and agreeing to this agreement.
• "We," "our," and "lender" refer to Skypesa Microfinance and the app platform, as well as any individual, company, or bank to whom the lender's rights and/or obligations have been transferred after assignment.
• "Account" refers to the account established by the borrower with the lender.
• "Loan Disbursement Date" refers to the date the lender actually disburses the loan to the borrower.
• "Due Date" refers to the date on which an installment payment is due.
• "Loan Amount" refers to the maximum credit limit available to the borrower when opening an account with the lender.
• "Loan" refers to the amount advanced to the borrower by the lender, not less than KES 1,000.00 (One Thousand Naira).

2. Loan Fees

1. The loan fees payable by you for any loan shall be displayed in the application.
2. If you fail to make timely repayment, in addition to interest charged at the current rate on the outstanding debt, a penalty of 10% per month on the outstanding amount will be charged. Additionally, overdue management fees and late payment penalties will be calculated and charged based on the number of overdue days.
3. The lender may increase or decrease the loan amount at any time according to its needs in the app.
4. If the borrower wishes to settle the loan before the due date (final due date), they can do so through the repayment settlement operation in the app.

3. Borrower's Obligations

1. Pay the loan amount to us, including any convenience fees, default penalties, or fines, the fixed interest rate, and any other amounts payable by the lender deducted from the account. The borrower agrees to pay these amounts on or before the due payment date in accordance with this agreement.

2. The lender reserves the right to presume that the borrower has authorized any loan application made in the borrower's name using this account. Unless the borrower notifies the lender in writing within 24 hours of discovering any fraudulent activity, the borrower will be responsible for any unauthorized applications using this account.

3. Repay the loan provided to you and/or anyone you authorize to use this account by cash transfer directly to the lender's listed bank account, by electronic debit from your provided card/account on the due date, or through any acceptable electronic channels.

4. The lender reserves the right to accept early repayment before the due repayment date, provided the borrower has given sufficient notice and repaid the full loan at the fixed interest rate. The lender may repay the loan through the following methods and means using electronic debit cards:

   • When setting up a new debit card on the account for the first time, the lender will charge a one-time service fee. If the debit card has expired or is about to expire, you must obtain a new card from your bank or provide us with another personal debit card. Remember, the new card or debit card must be applied and bound by the borrower themselves, and using another person's debit card as a replacement is not allowed. Disputes and legal liabilities arising from this will be fully borne by the borrower.
   • The lender shall deduct the amount from the card on the repayment due date. We will never use the card for any transaction beyond the scheduled loan repayment period. If you mistakenly initiate double repayment, we will make every effort to process a refund within a reasonable time.
   • You hereby indemnify us against any and all losses, liabilities, or damages arising from your use of a third-party card on your account without the third party's consent.
   • If your bank account is in default or lacks sufficient funds, you hereby authorize us to continue charging any other cards listed in your account or profile until the debt is settled.
   • You understand and agree that we do not store card details on the platform; card details will be processed through a PCI DSS-compliant secure payment gateway.

5. You agree to provide the lender with truthful and up-to-date personal, social media, phone, and financial records as we reasonably request from time to time.

6. The borrower shall indemnify and hold the lender and its representatives (each referred to as "Indemnified Parties") harmless from any and all lawsuits, actions, proceedings, claims, damages, losses, liabilities, and expenses (including but not limited to attorney fees and expenses, and other investigation or defense expenses, including those incurred on appeal) arising from or incurred by the Indemnified Parties due to:

   • Credit being extended, suspended, or terminated under this agreement or any loan documents and the administration of such credit, and any action or inaction related to this agreement or any loan documents, and any legal costs and expenses arising from or incurred in connection with any disputes between or among the parties to this agreement or any loan documents (collectively, "Indemnified Liabilities");
   • Provided, however, that the borrower shall not be responsible for indemnifying the Indemnified Parties for any such lawsuits, actions, proceedings, claims, damages, losses, liabilities, or expenses resulting solely from the gross negligence or willful misconduct of the Indemnified Parties, as finally determined by a court of competent jurisdiction.

7. The borrower further agrees:

   • Never to provide us with false information or signatures (whether electronic or otherwise).
   • To pay all fees, including but not limited to late fees or penalties, as specified in these terms and conditions.
   • To pay all amounts via direct debit from the bank card or electronic funds transfer as required by the application form.
   • To notify us immediately if you change your name, mailing address, email address, or phone number.
   • To fulfill any other promises you make in this agreement.
   • Not to accept this account unless you have reached the legal age of majority and are capable of entering into a binding contract.
   • Not to use Skypesa for any illegal or criminal activities, as Skypesa Microfinance will not be liable for any criminal actions you commit.
   • If it is determined that the loan was obtained through fraudulent means, the lender has the legal authority to deduct the full repayment amount before the due date.
   • To complete the application form (if provided) as required and provide accurate information and details.

4. Lender's Obligations

1. To provide the borrower with a loan/credit facility not less than KES 1,000.00 (One Thousand Naira).
2. To execute the aforementioned operations after verifying the borrower's identity and personal information.
3. To require the borrower to make timely repayments.
4. To conduct a credit assessment and review of the borrower before opening an account for the borrower.
5. To use all reasonable and lawful means to recover the principal, default penalties, transaction fees, and any other penalties charged to the borrower as a result of the loan.
6. Not to store or retain the debit card or credit card details provided by the borrower on the application form.

5. Credit Reference

1. When considering any credit application, the lender or its duly authorized representatives/agents will utilize specialized credit agencies to obtain the borrower's credit report.
2. The borrower authorizes the lender to access any information provided by the credit agencies to the lender.
3. The borrower also agrees that the borrower's details (excluding card details) and the loan application decision may be recorded with the credit agencies.

6. Notifications

1. The borrower agrees that the lender may communicate notifications, messages, alerts, and statements related to this agreement through the following methods:
   • To the latest physical address retained by the lender for the borrower;
   • By sending to any email address provided during the application process;
   • By sending SMS to any mobile phone number provided by the borrower to the lender;
   • By posting such notices on the lender's website.

7. Events of Default

The following circumstances shall constitute a default under this agreement:

1. The borrower fails to pay any scheduled repayment in full on or before the due repayment date as provided in the repayment plan.
2. Any representation/information, warranty, or guarantee made or given by the borrower in connection with this loan application, or any information or documents provided by the borrower, is later found to be materially incorrect.
3. The borrower commits any act that may impair the lender's rights under this agreement or cause the lender to suffer any loss or damage.

In the event of any default by the borrower:

1. The lender reserves the right to assign its rights, title, and interests under this agreement to external collection agencies that will take all reasonable measures to collect the outstanding loan amount.
2. The lender also reserves the right to initiate legal proceedings against the defaulting borrower without any obligation to notify the borrower before commencing such proceedings.
3. The borrower shall indemnify and hold the lender and its representatives (each referred to as "Indemnified Parties") harmless from any and all lawsuits, actions, proceedings, claims, damages, losses, liabilities, and expenses (including but not limited to attorney fees and expenses, and other investigation or defense expenses, including those incurred on appeal) arising from:

• Credit being extended, suspended, or terminated under this agreement;
• Any loan documents and the administration of such credit, and any action or inaction related to this agreement or any loan documents, and any legal costs and expenses arising from or incurred in connection with any disputes between or among the parties to this agreement or any loan documents (collectively, "Indemnified Liabilities");
• Provided, however, that the borrower shall not be responsible for indemnifying the Indemnified Parties for any such lawsuits, actions, proceedings, claims, damages, losses, liabilities, or expenses resulting solely from the gross negligence or willful misconduct of the Indemnified Parties, as finally determined by a court of competent jurisdiction.

8. Data Protection and Customer Consent

1. Your data processing is governed by our Privacy Policy, which can be found on our website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy, Anti-Money Laundering Policy, and all other policies displayed on our website. You should print and retain a copy of the Privacy Policy and these Terms of Use.
2. By default, you will receive email newsletters informing you about new product features, events, promotions, special offers, and more. By accepting these Terms of Use, you agree to receive such email newsletters regularly. If you do not wish to receive our newsletters, you can opt out by contacting customer service. Any email newsletter you receive will also provide an option to unsubscribe. However, you cannot opt out of Skypesa's system, transaction, or account-related critical email notifications.
3. When you register on the Skypesa application, you will need to provide us with information such as your name, email, gender, and date of birth. In some cases, we may require additional information for security reasons or to provide you with specific services.
4. You can change your personal identification information on Skypesa at any time by contacting customer service. Some of this information will be updated immediately, while other information may require further verification to be updated.
5. When you use Skypesa on your device, we may collect information about your browser type, location, IP address, and the pages you visit for security purposes.
6. When using our mobile application, we will request access to your phone contacts. We will only upload them to our servers if you give us explicit additional permission. We will not share your contacts with any third party.
7. When using our mobile application, we will request permission to access the following features:
8. After a transaction is completed, we need to retain the details of the transactions or payments you make through Skypesa. We will only provide this information to third parties if required by law or to our representatives, professional advisors, or external third-party service providers under the same confidentiality obligations to enhance the services we provide to you. We will take all reasonable measures to ensure your data is handled securely and in accordance with our Privacy Policy.
9. You agree that for record-keeping purposes, your information (including your personal information, telephone conversations with our customer service department, and your transactions) may be recorded and stored for five (5) years from the date your account is closed.

By clicking "I agree to the terms and conditions" on the application form, you hereby provide your electronic signature, indicating that you understand, agree, and consent to:

(1) We may provide you with materials and other information about your statutory rights and obligations electronically. Your electronic signature on agreements and documents has the same effect as a signature in ink on paper or any other physical form. We may send all important communications, bills, collection notices, and reminders (collectively, "Disclosures") to you electronically via SMS or the email address you provided when applying for this loan. When Disclosures are available, we will notify you by sending an electronic communication. Our emails will tell you how to view the Disclosures. We will provide Disclosures from the date they first become available or from the date we send you an email notifying you that Disclosures are available. You will be able to print a copy of the Disclosures or download the information for your records. This consent applies to this transaction, all future disclosures related to this account, all transactions you conduct with us using Skypesa payment options in the future, and any other disclosures we provide to you via email unless you withdraw your consent before conducting such transactions using the procedure described below.

(2) By consenting, you agree that electronic Disclosures have the same meaning and effect as if we provided them to you in paper form. Any electronic communication notifying you that Disclosures are available electronically and online will have the same meaning and effect as if we had provided you with paper Disclosures, whether or not you choose to view the Disclosures unless you have previously withdrawn your consent to receive Disclosures electronically.

1. We use server firewalls and encryption technology to ensure the security of your account information during transmission and storage. We also use automated and social measures to enhance security, such as analyzing account behavior for signs of fraud or other irregular activity, limiting the use of Skypesa features to address potential abuse, and suspending or disabling accounts for violating our customer terms and conditions.
2. Unless otherwise stated, our current Privacy Policy applies to all information we have about you and your account. We recommend you regularly check our application for changes to our Privacy Policy.
3. You should refer to the Privacy Policy of this application for more details, as it explains how we use and collect your information.

9. Anti-Money Laundering and Combating Terrorism Financing

1. To comply with relevant anti-money laundering obligations, we may require you to provide information on transactions conducted on your account, such as (a) recipient details, (b) source of funds for transfers, and (c) purpose of the transfer or payment. You confirm that you will provide all information necessary for these transactions.
2. You also agree that if you refuse to provide the requested information or any information provided is untrue or inaccurate, we may cancel any transaction, suspend your account, or refuse to open an account in your name.
3. Please note that for certain transactions, we or our third-party partners may be required to submit anti-money laundering or related reports to relevant regulatory authorities without notifying you. These reports may include your personal information, transaction details, investment activities, investment accounts, or details of the operation or proposed operation of any of our services.

10. Termination and Suspension

1. If you violate any terms listed in this document, we may terminate your Skypesa account or any related payment services with 21 days' prior notice.

2. You can terminate your Skypesa account at any time, provided you have settled all bills and ensured you have no outstanding and anticipated orders or other types of pending orders.

3. At the time of termination notice or any time thereafter, we may need to contact you by phone to confirm specific matters.

4. If you violate any of the terms of use or any other terms applicable to specific services covered by separate terms and conditions, we may suspend or terminate your Skypesa account at any time. If such an event occurs, we will notify you 21 days in advance:

   • You have violated or we have reason to believe you have violated any applicable laws or regulations regarding your use of our services.
   • We have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing, or other criminal activities.

5. We may suspend your Skypesa account at any time if:

   • We have reason to believe your Skypesa account has been compromised or for other security reasons.
   • We reasonably suspect your Skypesa account has been or is being used without your authorization or fraudulently; we will notify you before the suspension or immediately after if prior notification is not possible, unless prohibited by law. Apart from default termination, we may terminate this agreement at any time for any reason, subject to applicable legal requirements. We may terminate your account by sending a written notice to the address on your application form. If this account has no debits or credits for twelve (12) consecutive months, we may terminate it without notice. If terminated due to default, you will be ineligible for future credit applications with us.

11. Taxes

1. All amounts payable by you under these terms and conditions or for any services provided by Skypesa are calculated without regard to any taxes payable by you or the service. If any payment requires the payment of taxes, you must ensure that such taxes are paid and pay Skypesa an additional amount so that Skypesa receives the full amount it would have received if the payment were not subject to such taxes.
2. You hereby agree and acknowledge that if we are required to do so under the law, regulations, or any agreements with tax authorities, or to comply with internal policies or directives of tax authorities, Skypesa may withhold amounts from your account. However, if such deductions are made, we will send a notice to the valid contact address you provided.
3. All payments made by you under this agreement shall be made in full, without any set-off or counterclaim, unless otherwise required by law, and free and clear of any deductions or withholdings. If you are required to deduct or withhold any amount from any payment to Skypesa, you shall immediately pay Skypesa an additional amount so that Skypesa receives the full amount it would have received if no such deduction or withholding had been made.

12. Communication Between Us

1. If you wish to contact us or are required to notify Skypesa under these terms and conditions, you can send such communication to us by email at: help.skypesa@gmail.com or any other email address we may provide to you from time to time. We will contact you in writing via email to confirm receipt of this information.
2. If we need to contact you or notify you in writing, we may do so by posting such notices on our website, application, or by sending an email or SMS to the mobile number or email address you provided to us.

13. Securing Your Account

1. You are responsible for ensuring the security of the information related to your account and the Skypesa application. If you suspect your account security has been compromised or is subject to fraud, notify us as soon as possible. We will provide security guidance after verification, and Skypesa will not be liable for any damage caused by human interference beyond our control, malicious software, or your actions.
2. You agree to keep your password confidential and are responsible for all use of your account and password.

14. General Provisions

1. The partial exercise of any right,

power, or remedy shall not hinder further or other exercises of that right, power, or remedy or any other right, power, or remedy.

1. Skypesa's failure to exercise or delay in exercising any right or remedy under this agreement (including the right to enforce repayment of any outstanding amounts on the due date) does not constitute a waiver of that right or remedy.
2. If any provision or part of a provision of this agreement is found by any court of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this agreement or the other parts of the provision, which shall remain in full force and effect.
3. Skypesa reserves the right to transfer or assign its rights and obligations under this agreement (including the loans or amounts owed under this agreement) to others. If such transfer results in changes that may affect your services, we may notify you. You may not assign this agreement or any rights or responsibilities arising under it to any other person.

15. Entire Agreement

1. These Terms and Conditions, along with our Privacy Policy, constitute the entire agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations, and understandings between us, whether written or oral, relating to its subject matter.
2. You acknowledge that in entering into this agreement, you have not relied on any statement, representation, assurance, or warranty not expressly set out in these Terms and Conditions or our Privacy Policy (whether made innocently or negligently).

16. User Representations

By using this website, you represent and warrant that:

1. All registration information you submit will be true, accurate, current, and complete; you will maintain the accuracy of such information and promptly update such registration information as necessary;
2. You have the legal capacity and you agree to comply with these Terms and Conditions;
3. You are at least 18 years old;
4. You will not use the product for money laundering activities as advocated by the Money Laundering Act of 2011 in Kenya;
5. You will not access the website through automated or non-human means, whether through a bot, script, or otherwise;
6. You will not use the website for any illegal or unauthorized purpose;
7. Your use of the website will not violate any applicable laws or regulations.

If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the website (or any part thereof).

17. Governing Law and Dispute Resolution

1. This agreement is governed by and construed in accordance with the laws of the Federal Republic of Kenya. In the event of any dispute/complaint, you may write to us at help.skypesa@gmail.com, and we will make every effort to resolve it internally as soon as possible. If it cannot be resolved internally, the dispute will be resolved through individual arbitration.
2. Both parties shall make sincere efforts to resolve any disputes, disagreements, or claims arising out of or in connection with this agreement amicably.

18. Intellectual Property

Unless otherwise stated, the website is our proprietary property, and all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics on the website (collectively, the "Content") and the trademarks, service marks, product and logos contained therein (the "Marks") are owned or controlled by or licensed to us and are protected by copyright and trademark laws and various other intellectual property rights and unfair competition laws of the Federal Republic of Kenya, foreign jurisdictions, and international conventions.

The Content and Marks are provided on the website "as is" for your information and personal use only. Except as expressly provided in these Terms and Conditions, no part of the website and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose without our express prior written permission.

Provided that you are eligible to use the website, you are granted a limited license to access and use the website and to download or print a copy of any portion of the Content to which you have properly gained access solely for your personal, non-commercial use. We reserve all rights not expressly granted to you in and to the website, the Content, and the Marks.