Dassha Cash Loan CC – Terms & Conditions
1. Definitions & Interpretations
1.1 The Borrower – The individual or entity borrowing funds.
1.2 The Capital – The principal amount lent by the Lender to the Borrower, including applicable fees and charges.
1.3 The Lender – Dassha Cash Loan CC.
1.4 Loan – The total sum advanced to the Borrower by the Lender.
1.5 Schedule – The loan details, including amount, repayment terms, interest rates, and instalments, forming part of this agreement.
1.6 Outstanding Balance – The remaining balance of the Loan, including fees, interest, and charges owed by the Borrower.
1.7 Early Settlement – Full repayment of the Loan before the scheduled term.
2. Debit Order Instruction
2.1 Authorization: The Borrower authorizes the Lender and its agents to deduct loan repayments directly from their bank account as specified.
2.2 Insufficient Funds: In the event of insufficient funds, the Lender is authorized to adjust deductions or make partial collections to recover arrears.
2.3 Payment Date Changes: The Borrower acknowledges the Lender may change deduction dates to align with salary payment dates without prior notice.
2.4 Bank Charges: The Borrower agrees to pay any bank charges related to debit orders, including failure costs.
2.5 Account Changes: The Borrower undertakes to notify the Lender of any changes to their banking details.
3. Loan Agreement
3.1 Loan Acknowledgement: The Borrower acknowledges receiving the Loan amount and agrees to repay it as specified in the Schedule.
3.2 Loan Schedule Updates: The Borrower must request an updated schedule if not received within two (2) days of the transaction.
3.3 Employment Confirmation: The Borrower confirms active employment and a minimum of six (6) months of service.
3.4 Loan Disbursement: The Loan may be disbursed via cash or electronic transfer as specified by the Borrower.
3.5 Payment Obligations: The Borrower authorizes deductions for loan repayments, arrears, and fees, and accepts responsibility for ensuring sufficient funds are available.
3.6 Liability for Costs: The Borrower is liable for legal and collection costs incurred due to non-payment.
3.7 Credit Reporting: The Lender may report payment behavior to credit bureaus.
3.8 Settlement and Arrears: Early settlements require notice and may incur fees. Arrears will accrue interest at the rate specified in the Schedule.
4. Legal Provisions
4.1 Jurisdiction: This agreement is governed by the laws of Namibia. Disputes will be resolved under Namibian court jurisdiction.
4.2 Notices: The Borrower must provide written notice of any address change within fourteen (14) days. Notices may be sent electronically.
4.3 Scanned Copies: Scanned or imaged versions of this agreement are deemed authentic and enforceable.
4.4 Privacy Consent: The Borrower consents to the collection, storage, and use of personal information for loan administration, collections, marketing, and research purposes.
4.5 Employer Communication: The Borrower authorizes the Lender to contact their employer for relevant information.
4.6 Termination: The Borrower may terminate this agreement within one (1) business day of loan approval. After this period, the agreement becomes irrevocable.
5. Final Agreement
5.1 Agreement Binding: This agreement constitutes the entire understanding between the Borrower and the Lender and overrides prior agreements or representations.
5.2 Borrower Declaration: The Borrower confirms they have read and understood the terms herein and agree to abide by them.
Dassha Cash Loan CC reserves the right to update these terms and conditions without prior notice. Borrowers are encouraged to review the terms periodically.