term OF conditions

Navi Finance Limited (hereinafter referred to as "NFL" or "US" or "WE" which term shall where the context so admits include its legal representatives and assigns) are the owners and operator of the application Credit Loan App (hereinafter referred to as "App").

Navi Finance Limited is a company licensed by Lagos State Government to carrying on Money Lender’s business and regulated by the Lagos State Government. NFL is committed to the provision of financial services at affordable rates to low-income and middle-income people with limited access to formal banking system.

I.WHEREAS

This Agreement is a financial services agreement between you (“Borrower”) and Navi Finance Limited duly incorporated under the laws of Nigeria and licensed by the Lagos State Government.

This Agreement (together with our Privacy Policy) sets out the complete terms and conditions (the “Terms and Conditions”) which shall be applicable to the Account (as hereinafter defined) opened by you with NFL.

These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.

II.DEFINITIONS AND INTERPRETATION

Definitions:

For the purposes of this Agreement and the preamble above, unless the context requires otherwise:

Acceptable Use Restrictions has the meaning given to it in item 6; Agreement means this Agreement;

Account means your loan account which register with Credit Loan App;

Business Day means a day other than a Saturday, Sunday or national or public holiday in Nigeria;

Credentials means your personal credentials used to access the App and operate your Account;

Credit Reference Bureau includes any financial institution or a credit reference bureau duly licensed under the laws and regulations of Nigeria at every given time, to collect and facilitate the sharing of customer credit information;

Electronic Money means a monetary value that is electronically stored in an instrument or device representing an equal amount of cash;

Electronic Payment Service means the payment service delivered in electronic form by a licensed payment service provider in accordance with the laws and regulations of Nigeria;

Electronic Payment System means the facility operated by the Payment System Provider for the provision of the Electronic Payment Service;

Encumbrance includes any mortgage or charge (whether legal or equitable), lien, option, security interest, restrictive covenant, pledge, assignment, title retention, trust arrangement or other restriction of any kind or other encumbrance securing or any right conferring a priority of payment in respect of any obligation of any person; Equipment includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;

Event of Default has the meaning given to it in item 8.1;

Force Majeure means events, circumstances or causes beyond the reasonable control of NFL making NFL’s performance of its obligations inadvisable, commercially impracticable, illegal, or impossible, including but not limited to acts of God, war, strikes or labor disputes, pandemic, embargoes or government orders; License Restrictions has the meaning given to it in item 5;

Loan means the principal amount of the loan made or to be made by NFL to you under this Agreement from time to time through the App or (as the context requires) the principal amount outstanding for the time being of that loan;

III.ACCEPTANCE OF TERMS AND CONDITIONS

You must carefully read and understand the Terms and Conditions set out in this Agreement and as amended from time to time by NFL (the Terms and Conditions) before downloading or streaming the App or opening an account or requesting a loan from NFL which will govern the use and operation of the App and the Account.

After downloading the App, you will be deemed to have Accepted the Terms and Conditions immediately upon your clicking the “Continue” button during your Loan application on NFL’s System or any other button which signifies your acceptance of these Terms and Conditions and an intention to use the App. If you do not agree with the Terms and Conditions please do not click “Continue” in NFL’s System. Please note that you will not be able to access the Services if you declined the Terms and Conditions. If you do not agree to the Terms and Conditions, we will not give you access to NFL Services.

By downloading the App and opening an Account with NFL, you agree to comply with and be bound by the Terms and Conditions governing the operation of the Account and you affirm that the Terms and Conditions herein are without prejudice to any other right that NFL may have with respect to the Account in law or otherwise.

These Terms and Conditions may be amended or varied by NFL from time to time and your continued use of the Services constitutes your agreement to be bound by the terms of any such amendment or variation. NFL will take all reasonable measures to notify you of any changes.

From time-to-time updates to the App may be issued. Depending on the update, you may not be able to use the Services until you have downloaded or streamed the latest version of the App and accepted any new terms and conditions.

By using the App or any of the Services, you consent to us collecting and using technical information about the Equipment and related software, hardware and peripherals for Services that are internet-based or wireless to improve our products and to provide any Services to you. If you use these Services, you consent to us and our affiliates’ and licensees’ transmission, collection, retention, maintenance, processing and use of your data to determine our credit scoring services or to improve our Services and/or your experience while using the App.

IV.GRANT AND SCOPE OF LICENCE

In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive license to use the App on your Equipment, subject to these Terms and Conditions.

We reserve all other rights. Except as expressly set out in this Agreement or as permitted by any local law, you agree:

* not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the App;

* not to make alterations to, or modifications of, the whole or any part of the App, or permit the App or any part of it to be combined with, or become incorporated in, any other programs;

* not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the App or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving inter-operability of the App with another software program, and provided that:

* the information obtained by you during such activities is not disclosed or communicated without our prior written consent to any third party; and is not used to create any software that is substantially similar to the App;

* you include our copyright notice on all entire and partial copies you make of the App on any medium; and you undertake not to provide or otherwise make available the App in whole or in part (including object and source code), in any form to any person without prior written consent from us; and

* to comply with all technology control or export laws and regulations in your country that apply to the technology used or supported by the App or any Service (the Technology),

V.LICENCE RESTRICTIONS

You must: * not use the App or any Service in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with this Agreement, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the App, any Service or any operating system;

* not infringe our intellectual property rights or those of any third party in relation to your use of the App or any Service, including the submission of any material (to the extent that such use is not licensed by this Agreement);

* not transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of the App or any Service;

* not use the App or any Service in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users; and

* not collect or harvest any information or data from any Service or our systems or attempt to decipher any transmissions to or from the servers running any Service.

VI.ACCEPTABLE USE RESTRICTIONS

6.1INTELLECTUAL PROPERTY RIGHTS

You acknowledge that all intellectual property rights in the App and the Technology anywhere in the world belong to us or our licensors, that rights in the App are licensed (not sold or assigned) to you, and that you have no rights in, or to, the App or the Technology other than the right to use each of them in accordance with the terms of this Agreement. You acknowledge that you have no right to have access to the App in source-code form.

6.2USE OF THE SERVICES

The Services offered by NFL can only be utilized by persons over the age of 15. NFL reserves the right to verify the authenticity and status of your Bank Accounts and Bank Verification Numbers with the relevant Payment System Provider/NIBSS.

NFL’s acceptance of your application for an Account will be displayed on the App. You hereby acknowledge and accept that the acceptance by NFL of your application for an Account does not create any contractual relationship between you and the Payment System Provider/Nigerian Inter-Bank Settlement System (NIBSS).

NFL reserves the right to decline your application for a Loan or to revoke the same at any stage at NFL’s sole and absolute discretion and without assigning any reason or giving any notice thereto.

NFL reserves the right (in its sole and absolute discretion) to issue, decline to issue a Loan and/or vary the terms of any Loan depending on its assessment of the credit profile of each individual borrower from time to time. The terms of the Loan and the interest rate payable in relation to each loan application will be displayed on the App.

6.3PERSONAL INFORMATION

You hereby agree and authorize NFL to verify information provided by you to NFL

against the information held by the Payment System Providers/NIBSS pursuant to the agreement between you and the relevant Payment System Provider/NIBSS for the provision of its products and services and the Electronic Payment Service and any other information made available to NFL.

The information that NFL may verify against the information held by the Payment System Providers/NIBSS includes (without limitation): your phone number, name, date of birth, Identification Number (“ID”) or Passport Number or BVN number and such other information that will enable NFL to identify you and comply with the regulatory “Know Your Customer” requirements in your country (together the “Personal Information”).

You hereby agree and authorize NFL to verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you or by you, from any 3rd party applications, and such other information as NFL shall require for purposes of providing you the Services (the “Relevant Information”).

You hereby consent to NFL verifying the Personal Information and the Relevant Information with the Payment System Providers/NIBSS and using the Personal Information and the Relevant Information to the extent necessary in NFL’s opinion.

You hereby agree and authorise NFL to obtain and procure your Personal Information and Relevant Information from your respective Payment System Provider/NIBSS and you further agree and consent to the disclosure and provision of such Personal Information by the Payment System Provider and further to indemnify and hold NFL and the Payment System Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.

You hereby agree and authorise NFL to obtain and procure your Personal Information from the Credit Reference Bureaus and you further agree and consent to the disclosure and provision of such Personal Information by the Credit Reference Bureaus.

NFL reserves the right to request for further information from you pertaining to your application for an Account at any time. Failure to provide such information within the time required by NFL may result in NFL declining to accept your application for an Account or a Loan.

NFL reserves the right to supply consumer credit information and information about the Borrower to the Credit Reference Bureaus, and in this regard: you confirm that NFL may transmit to the Credit Reference Bureaus data about the App, opening and termination of an Account by you.

You acknowledge that information on non-compliance with the Terms and Conditions of this Agreement may be transferred to the Credit Reference Bureaus; and

The Credit Reference Bureaus may provide NFL with a credit profile and possibly credit scores on your credit worthiness.

6.4REQUESTS MADE BY THE BORROWER

You hereby irrevocably authorise NFL to act on all Requests received by NFL from you (or purportedly from you) through the System or your Equipment and to hold you liable in respect thereof. NFL may nevertheless refuse to carry out any Requests in its sole and absolute discretion.

Subject to its discretion, NFL reserves the right to reject any Request in relation to a Loan application from you even if you have previously been issued with a Loan by NFL.

NFL shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, NFL believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.

NFL shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which NFL may act if NFL has in good faith acted in the belief that such instructions have been sent by you.

NFL, in its absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further enquiry or further confirmation (whether written or otherwise) from you.

You agree to and shall release from and indemnify NFL against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to NFL having acted in accordance with the whole or any part of any of your Requests (or failed to exercise) the discretion conferred upon it.

You acknowledge that to the full extent permitted by law, NFL shall not be liable for any unauthorised drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Account Personal Identification Number, password, ID or any means whether or not occasioned by your negligence.

NFL is authorised to effect such orders in respect of your Account as may be required by any court order or competent authority or agency under the applicable laws in Nigeria.

In the event of any conflict between any terms of any Request received from you and this Agreement, this Agreement shall prevail.

6.5INTEREST AND FEES

The interest payable by you to NFL in relation to any Loan shall be displayed by on the App. NFL shall be entitled to set and charge

All payments to be made by you under this Agreement shall be made in full without any set off or counter claim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to NFL, you shall immediately pay to NFL such additional amounts as will result in NFL receiving the full amount it would have received had no such deduction or withholding been required.

If you fail to make any payments due to NFL at the due date for payment, NFL will be authorised to apply late fees on such amount loaned to you at a rate to be communicated to you.

6.6STATEMENTS

A statement of repayment report in respect of your Account will be made available on Request. Requests shall be notification via our SMS.

The statement on the App shall be show in REPAY page and provide details of the last transactions in your Account initiated from your Equipment.

Your statement will show all amounts added or taken from your Account. You must check your statement carefully and notify NFL as soon as possible, and no later than 48 hours after receipt of your statement, if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.

NFL reserves the right to rectify discrepancies, add and/or alter the entries in your statements, without prior notice to you.

Save for a manifest error, a statement issued to you in respect of your Account shall be conclusive evidence of the transactions carried out on your NFL for the period covered in the statement.

6.7TAXES

All payments to be made by you in connection with these Terms and Conditions or any Loan provided to you by NFL are calculated without regard to any taxes payable by you in your country. If any taxes are payable in connection with the payments, you must ensure that you pay such taxes and that you pay to NFL such additional amounts as will result in NFL receiving the full amount it would have received had no such taxes been applicable to the payments.

You hereby consent and agree that NFL may withhold amounts in your Account if any tax authority in your country requires NFL to do so, or NFL is otherwise required by law or pursuant to agreements with any tax authority to do so, or if NFL needs to comply with internal policies or with any applicable order or sanction of a tax authority in your country. You will, however, be notified if such deductions are made.

VII.BORROWER’S RESPONSIBILITIES

7.1You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.

7.2You shall be responsible for ensuring the proper performance of your Equipment. NFL shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, nor shall NFL be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and NFL shall not be responsible for losses or delays caused by any such service provider.

7.3You shall follow all instructions, procedures and terms contained in this Agreement and any document provided by NFL concerning the use of the System and the Services.

7.4You hereby agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your Credentials secret and secure. You shall ensure that your Credentials do not become known or come into possession of any unauthorised person. NFL shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold NFL harmless from any losses resulting from any disclosure of your Credentials.

7.5You shall take all reasonable precautions to detect any unauthorised use of the System and the Services. To that end, you shall ensure that all communications from NFL are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorised use of and access to the System will be detected. You shall immediately inform NFL in the event that:

7.5.1You have reason to believe that your Credentials are or may be known to any person not authorised to know the same and/or have been compromised; and/or You have reason to believe that unauthorised use of the Services has or may have occurred or could occur and a transaction may have been fraudulently initiated or compromised.

7.6You shall at all times follow the security procedures notified to you by NFL from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Account’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorised to do so.

7.7You shall not at any time operate or use the Services in any manner that may be prejudicial to NFL.

VIII.DEFAULT ON LOAN

8.1An event of default (Event of Default) occurs when:

You fail to pay any sum payable under a Loan in accordance with a scheduled repayment.

any representation/information, warranty or assurance made or given by the Borrower in connection with the application for a Loan or any information or documentation supplied by the Borrower is incorrect, inaccurate or misleading;

the Borrower does anything which may prejudice NFL’s rights under this Agreement;

you use or attempt to use the App or the Services for an unauthorized purpose; or

the Borrower is declared bankrupt, insolvent or unable to pay his debts as they fall due under the laws of his country.

8.2At any time after an Event of Default has occurred which is continuing, NFL may, without prejudice to any other right or remedy granted to it under any law:

8.2.1terminate this Agreement in accordance with clause 12 below;

8.2.2declare that the Loan (and all accrued interest and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and

8.2.3supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request.

8.3NFL 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 (together with any interest and fees accrued), and in this regard, NFL shall have the right to share with such collection agencies, any information about the Borrower which it deems relevant.

NFL also reserves the right to institute legal proceedings for the recovery of the Loan against you without any prior notice.

The Borrower shall be responsible for all legal costs and expenses incurred by NFL in connection with any enforcement action taken by NFL for the collection and repayment of the Loan (together with any interest or fees due on the Loan).

In the event that an Event of Default occurs, the Borrower grants to NFL the right to notify the Borrower and any other person who, in NFL’s opinion, may assist with the recovery of the outstanding Loan amount. You agree that this notification may be done by any means of communication which NFL deems appropriate.

8.4In the event default occurs where the Borrower’s contract of employment is terminated or he/she resigned, or absconded from work, the Borrower grants NFL the right to recover the outstanding Loan amount from the Borrower’s company’s staff savings, cooperative investment funds or security funds accrued over time on behalf of the Borrower or any other savings being kept or standing to the benefit of the Borrower in the company.

8.5NFL shall liaise with the Borrower’s employer to net off the outstanding Loan amount from the savings standing to the credit of the Borrower.

8.6NFL shall liaise with the Cooperative Investment funds or any Union in force in the Borrower’s organization to recover the outstanding loan from any savings standing to the credit of the Borrower.

8.7This is without prejudice to the Borrower’s right of privacy.

IX.DEFAULT FEE

9.1Where the Borrower fails to pay NFL the Credit Loan App loan sum on the due date, NFL will charge default interest at a rate of 1.0% per month 0.033% per day of the overdue amount (outstanding principal + outstanding interest) while for other products, the interest rates will be determined on the prevailing market rates at the time of default.

9.2The default interest rate:

9.2.1is charged by NFL in addition to the normal interest rate which it charges the Borrower at the same time and in the same manner as that normal interest.

9.2.2accrues before and after any court judgment, which NFL obtains against the Borrower.

9.2.3is liquidated damages to compensate NFL for the additional risk and legal costs and expenses associated with the Borrower’s failure to pay the outstanding sum.

X.VARIATION AND TERMINATION

10.1NFL may at any time, upon notice to you, terminate or vary its business relationship with you and close your Account and in particular but without prejudice to the generality of the foregoing, NFL may cancel credits which it has granted and require the repayment of outstanding debts resulting from such credits within such time as NFL may determine.

10.2Without prejudice to NFL’s rights under clause 12.1, NFL may at its sole discretion suspend or close your Account:

10.2.1if you use the Account for unauthorised purposes or where NFL detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;

10.2.2if your Account or agreement with a Mobile Network Operator is terminated for whatever reason;

10.2.3if NFL is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;

10.2.4if NFL reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable) which you fail to remedy (if remediable) within 14 days after the service of notice by email, SMS or other electronic means requiring you to do so;

10.2.5where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; to facilitate update or upgrade the contents or functionality of the Services from time to time; or where your Account becomes inactive or dormant;

10.2.6if NFL decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion; or

10.2.7if you breach any of the Licence Restrictions or the Acceptable Use Restrictions.

10.3If your Account has a credit balance at any time as a result of overpayment of your Loan, you may issue a Request to NFL for payment of such credit balance and NFL will return any such balance to you, less any applicable fees, provided that such amount falls above the minimum transfer amounts specified by the relevant Payment System Provider/NIBSS.

10.4Termination shall however not affect any accrued rights and liabilities of either party.

10.5If NFL receives notice of your demise, NFL will not be obliged to allow any operation or withdrawal from your Account by any person except upon production of administration letters from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by a court of competent jurisdiction.

XI.EXCLUSION OF LIABILITY

11.1NFL shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within NFL’s control including, without limitation, Force Majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

11.2You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the App as described meet your requirements.

11.3We only provide the Services on the App for domestic, private use, and small and medium business financing needs, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity as a result of your unauthorised use of the App.

11.4NFL will not be liable for any losses or damage suffered by you as a result of or in connection with:

11.4.1any defect or fault in the App or any Service resulting from you having altered or modified the App;

11.4.2any defect or fault in the App resulting from you having used the App in breach of the terms of this Agreement;

11.4.3your breach of any of the Licence Restrictions or the Acceptable Use Restrictions;

11.4.4unavailability of sufficient funds in your Value Storage Account;

11.4.5failure, malfunction, interruption or unavailability of the System, your Equipment, the Network or the Electronic Payment System; the money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your Account;

11.4.6any fraudulent or illegal use of the Services, the System and/or your Equipment; or

11.4.7your failure to comply with the Terms and Conditions and any document or information provided by NFL concerning the use of the System and the Services.

11.5If for any reason other than a reason mentioned in clauses 13.1 to 13.4, the Services are interfered with or unavailable, NFL’s sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.

11.6Save as provided in clause 13.5, NFL shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.

11.7Under no circumstances shall NFL be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to NFL.

11.8All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

XII.INDEMNITY

12.1In consideration of NFL complying with your instructions or Requests in relation to your Account, you undertake to indemnify NFL and hold it harmless against any loss, charge, damage, expense, fee or claim which NFL suffers or incurs or sustains thereby and you absolve NFL from all liability for loss or damage which you may sustain from NFL acting on your instructions or Requests or in accordance with these Terms and Conditions.

12.2The indemnity in clause 11.1 shall also cover the following:

12.2.1all demands, claims, actions, losses and damages of whatever nature which may be brought against NFL or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond NFL’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by NFL.

12.2.2any loss or damage that may arise from your use, misuse, abuse or possession of any third-party software, including without limitation, any operating system, browser software or any other software packages or programs.

12.2.3any unauthorised access to your Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.

12.2.4any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third-party facilities or systems or the inability of a third-party to process a transaction or any loss which may be incurred by NFL as a consequence of any breach of these Terms and Conditions.

12.2.5any damages and costs payable to NFL in respect of any claims against NFL for recompense for loss where the particular circumstance is within your control.

XIII.COMMUNICATION BETWEEN US

13.1If the Borrower wishes to contact NFL in writing, or if any condition in these Terms and Conditions requires the Borrower to give notice to NFL, you can send this to us by e-mail to bailifselene@gmail.com or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.

13.2If we have to contact you or give you notice in writing, we will do so by posting such notice on our website; or by e-mail or SMS to the mobile phone number or e-mail address you provide to us in your request for the App.

XIV.GENERAL

14.1Remedies Cumulative

14.1.1No failure on the part of any party to exercise, or delay on its part in exercising, any right, power or remedy provided by this Agreement or by law shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further or other exercise of that, or any other, right, power or remedy.

14.2No waiver

14.2.1No failure by NFL to exercise, and no delay in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or remedy.

14.3Effect of invalidity

14.3.1If any provision or part of a provision of this Agreement shall be, or be found by any court of competent jurisdiction to be, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of this Agreement, all of which shall remain in full force and effect.

XV.ENTIRE AGREEMENT

15.1These Terms and Conditions and 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.

15.2You acknowledge that in entering into this Agreement you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions or our Privacy Policy.

15.3You agree with us that neither of us shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.

XVI.DISPUTE RESOLUTION

16.1Disputes

16.1.1The Parties shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with this Agreement. To this end, the Parties in dispute shall each promptly appoint representatives of appropriate standing who shall meet and attempt to resolve any dispute between them. In the event that an amicable settlement has not been reached within thirty (30) days of the parties’ representatives meeting as aforesaid, the following provisions of this clause 20 shall apply.

XVII.Dispute Resolution.

17.1Any dispute, difference or question whatsoever and howsoever arising out of or in connection with this Agreement, save as specifically provided herein, shall be referred to the Lagos State Multi-Door Court for resolution and parties shall respectively bear their cost.

17.2Where parties are dissatisfied with the outcome of Lagos State Multi-Door Court, either party is at liberty to commence a legal action in any court of competent jurisdiction in Lagos State. Nothing in this clause 20 shall restrict either Party’s freedom to commence legal proceedings of any nature for the purposes of seeking preliminary injunctive relief or interim or conservatory measures from any court of competent jurisdiction pending the final decision or outcome of Lagos State Multi-Door Court.

XVIII.GOVERNING LAW

18.1This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

XIX.NFL’S PRIVACY POLICY

19.1We only use your personal information in accordance with our Privacy Policy. Please take the time to read our Privacy Policy, as it includes important terms which apply to you.

19.2Upon downloading the App and clicking the “Accept” or “Continue” or any other button which signifies your acceptance of these Terms and Conditions and an intention to use the App, you will be deemed to have accepted NFL’s Privacy Policy, a copy of which is available on the App.

XX.SEVERABILITY

20.1Every provision in this agreement is intended to be severable. If any provision is invalid for any reason whatsoever, such invalidity shall not affect the validity of other clauses in this agreement.

XXI.ADDITIONAL DISPUTE RESOLUTION PROVISIONS

21.1Notwithstanding any provision to the contrary in this Agreement, NFL shall have the right to institute proceedings for recovery of any outstanding amounts against a defaulting Nigerian Borrower in the High Court of Lagos after exploring all the recovery and collection strategies.