These Terms and Conditions apply to and regulate the provision of credit facilities advanced by Cashbridge Global & Leasing Company Limited (hereinafter called “The Lender” or Cashbridge Global) to the Borrower herein. These Terms and Conditions constitute the Lender’s offer and sets out the terms governing this Agreement.

cashbridge.africa® is an open-end credit plan offered by the the Lender and BY ACCEPTING THIS ONLINE OFFER, A CASHBRIDGE ACCOUNT IS SET UP WITH CASHBRIDGE GLOBAL and you agree that you have read the 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 fees and is governed by the Laws of the Federal Republic of Nigeria.

You will be asked to provide information (such as your date of birth and your Bank Verification Number), when you apply for a cashbridge.africa® loan. This information is used for verification purposes.

HOW TO USE CASHBRIDGE ACCOUNT

This is an open-end credit account where you access direct loan or credit facility using cashbridge.africa, while you repay the loan or credit facility on a future date via cash transfer or electronic repayment from your debit/credit card on the Payment Due Date at a flat interest on the loan.

  1. DEFINITION
    In this agreement, the terms: “You”, “your”, “Customer”, and “Borrower” mean the person who applied for this Account and agrees to this Agreement while “We”, “us”, “our” and “Lender” shall mean One Finance, and following an assignment, any person, company or bank to whom the rights and/or obligations of the Lender have been assigned

    • “Account” means the Borrower’s account with the Lender
    • “Disbursement Date” means the date the Lender actually advanced the loan to the Borrower
    • “Payment Due Date” means a maximum of 30 days after the loan has been given
    • “Credit Limit” means the maximum credit available to the Borrower on opening the account with the Lender
    • “Loan” means the amount advanced to the Borrower by the Lender, which shall be no less than N1,000.00 (One Thousand Naira only)
  2. CUSTOMER CONSENT
    By ticking the “I agree to the Terms and Conditions”, on the application form, which you hereby adopt as your electronic signature, you consent and agree that:
  1. We can provide materials and other information about your legal rights and duties to you electronically.
  2. We are authorized to share, receive and use data/information collected from your transaction with other affiliated Third parties.
  3. Your electronic signature on agreements and documents has the same effect as if you signed them using ink on paper or any other physical means.
  4. We can send all important communications, billing statements and demand notes and reminders (collectively referred to as “Disclosures”) to you electronically via our website or to an email address that you provide to us for while applying for this loan.
  5. We will alert you when the Disclosures are available, by sending you an electronic communication.
  6. Our email will tell you how you can view the Disclosures.
  7. We will make the Disclosures available to you from the date it first became available to you, or the date we sent you the email to alert you that it was available.
  8. You will be able to print a copy of the Disclosure or download the information for your records.
  9. This consent applies to this transaction, to all future Disclosures on this Account, to all future transactions in which you use the cashbridge.africa Payment option with us, at any time, and to other Disclosures that we provide to you by email, unless you have, prior to such transaction, withdrawn your consent by the procedure mentioned below.
  10. By consenting, you agree that electronic Disclosures have the same meaning and effect as if we provided paper Disclosures to you as we are required to do so. When we send you an email alerting you that the Disclosures are available electronically and make it available online, that shall have the same meaning and effect as if we provided paper Disclosures to you, whether or not you choose to view the Disclosures, unless you had previously withdrawn your consent to receive Disclosures electronically.

3. TRANSACTION FEE

  1. The Transaction Fee for the use of the cashbridge.africa Account shall be up to a flat 1% daily fixed for the term of this loan.
  2. The transaction fee does not preclude The Lender from charging default fees, penalty fee and in the event of any dispute arising from these Terms and Conditions – the cost of Litigation/Solicitors’ fees.
  3. The Transaction fee may be increased or decreased from time to time by the Lender. Such change in Transaction fee will take effect on the Borrower’s account following a minimum of 15 days written notice.
  4. Total transaction fee of the term of the loan shall remain applicable in the event of the Borrower liquidating the loan before expiration.

4. BORROWER’S OBLIGATIONS:

  1. To pay to us, the loan sum, including any convenience, default or penalty fees, flat interest rate, and other amounts due to the Lender charged to this Account. Borrower promises to pay these amounts as agreed in this Agreement on or before the Payment Due Date
  2. The Lender reserves the right to presume that the Borrower has authorized any loan application made in the name of the Borrower using this Account. The Borrower will be deemed responsible for any unauthorized application using this Account unless the Borrower notifies the Lender, in writing, of imminent fraud by another person on the Borrower’s account within 24 hours of such fraud.
  3. To repay the loan given to you and/or to someone you authorized to use this Account via direct cash transfer to a bank account listed by the Lender, an electronic debit from the card/account you provided on the due date, or through an acceptable electronic channel. The Lender reserves the right to accept early repayment before the Payment Due Date, provided the Borrower has given adequate notice and repays full loan along with the flat interest rate. Loan repayment via electronic debit card may be effected by the Lender in the way and manner hereinafter specified –
    1. The Lender shall charge a one-time processing fee the first time a Customer sets up a new debit card on the Account. In the event the card is expired or about to expire, you will have to obtain a renewed card from your bank or provide us with another personal debit card.
    2. The Lender shall deduct from the card setup on the repayment due date. We will never make any transactions on the card outside of the scheduled loan repayments. In the event of a double repayment initiated in error by you, we will on a best effort basis process a refund within a reasonable time.
    3. You hereby indemnify us against any and all losses, liabilities or damages that may arise in the event that you use a third party’s card on your Account without the consent of such third party.
    4. In the event of a default or insufficiency of funds in your bank account, you hereby authorize us to charge any other cards you may have on your Account or profile other than the primary card listed on an ongoing basis until the debt is settled.
    5. You understand and agree that we do not store card details on our platform thus card details shall be processed through a secure payment gateway that is PCI DSS compliant.
  4. To give The Lender authentic and up-to-date personal, social media, phone and financial records about you that we may reasonably request and analyze, from time to time.
  5. To pay all costs of collection if we take any action to collect this Account or take any action in a bankruptcy proceeding filed by or against you. This shall include, unless prohibited by applicable law, reasonable attorneys’ fees and expenses incurred while collection lasts.
  6. Not to give us false information or signatures, electronic or otherwise, at any time.
  7. To pay a Late Fee or penalty fee as may be provided in this terms and conditions.
  8. To make all payments via direct debit on cards or by electronic funds transfer as stated in the application form.
  9. To promptly notify us if you change your name, your mailing address, your e-mail address or your telephone number.
  10. To honor any other promises that you make in this Agreement.
  11. That you will not accept this Account unless you are of legal age and have the capacity to enter into a valid contract.
  12. Not to use cashbridge.africa only for any act of illegality or criminality as cashbridge.africa will not be criminally culpable for any illegality committed by you.
  13. To fill out the application form (as provided) with accurate information and details as required.

5. LENDER’S OBLIGATIONS

  1. To make available the loan/credit facility to the Borrower of a figure not less than N1,000.00 (One Thousand Naira only)
  2. To perform a) above upon confirmation of the Borrower’s identity and personal information
  3. To demand repayment for the Borrower as and when due
  4. To conduct investigations on the Borrower prior to opening an account for the Borrower
  5. To use all reasonable and legitimate means to collect the amount extended to the Borrower, the default fee, the transaction fees and any other penalty fee imposed on the Borrower as a result of the loan.
  6. Not to store or save Borrower’s debit or credit card details given by the Borrower in the application form

6. CREDIT REFERENCE

  1. The Lender or its duly authorized representatives/agents will utilize dedicated Credit Agencies for a credit report on the Borrower in considering any application for credit.
  2. The Borrower authorizes The Lender to access any information available to The Lender as provided by the Credit Agency.
  3. The Borrower also agrees that the Borrower’s details (save the card details) and the loan application decision may be registered with the Credit Agency.

7. NOTICES

The Borrower agrees that The Lender may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:

  1. To the most recent physical address The Lender holds for the Borrower on file
  2. By delivery to any email address provided during the application process.
  3. By delivery of an SMS to any mobile telephone number the Borrower has provided to The Lender.
  4. By posting such notice on the Lender’s website

8.1 EVENT OF DEFAULT

Default in terms of this Agreement will occur if:

  1. The Borrower fails to make any scheduled repayment in full on or before the payment due date in accordance with the repayment plan given to the Borrower;
  2. Any representation/information, 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
  3. The Borrower does anything which may prejudice the Lender’s rights in terms of this Agreement or causes the Lender to suffer any loss or damage.

8.2 In the event of any default by the Borrower subject to clause 8.1 above –

  1. The Lender 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.
  2. The Lender 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
  3. The Borrower shall be responsible for all legal costs and expenses incurred by The Lender in attempting to obtain repayment of any outstanding loan balance owed by the Borrower. Interest on any amount which becomes due and payable shall be charged.

9. TERMINATION OF THE ACCOUNT

  1. In addition to Termination by default, we may terminate this Agreement at any time and for any reason subject to the requirements of applicable law.
  2. We can terminate your Account by sending written notice to the address on your application.
  3. If there is no debit or credit on this Account for twelve (12) consecutive months, we may terminate this Account without notice to you.
  4. When Termination arises as a result of default, you will not be able to apply for credit in future

10. GENERAL

This Agreement represents the entire understanding between The Lender and the Borrower.

Any amendment to this Agreement shall be made by the Lender from time to time and communicated to the Borrower in writing.

The Borrower agrees and undertakes that for the period of this Agreement, the Borrower will not close the Borrower’s specified bank account.

This Agreement shall be governed and construed under the laws of the Federal Republic of Nigeria and, in the event of a dispute, shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria.

If The Lender does not strictly enforce its rights under this Agreement (including its right to insist on the repayment of all sums due on the Repayment Due Date) or grant the Borrower an indulgence, the Lender shall not be deemed to have waived or lost those rights and will not be prevented from insisting upon its strict rights at a later date.

The Lender 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. The Lender 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, data and information in the application by the Lender which may include but shall not be limited to purposes necessary to promote or sustain the business of the Lender; and the Borrower waives any claims the Borrower may have against the Lender arising from any such access, use or disclosure.