Henry McGrady - Afriq Finance - info@afriqfinance.com

[Roxy]

from: info@afriqfinance.com
date: Feb 22, 2020, 3:46 PM
subject: Re: Re Attention
mailed-by: afriqfinance.comTERMS & CONDITIONS OF LOAN AGREEMENT
AFHF T&C LOAN AGR 2019/06/27 V1.6

1.Loan Agreement
Afriq Finance holds the right to assess all Application, documents and more forwarded for a loan application. Prior our management decides on its approval on your Loan approval.

2.Interest
Interest rates are variable and are calculated and capitalized monthly in arrears on the outstanding Loan (or any other Deferred Amount). Such interest rates vary according to a prescribed sum involving the Repo Reference Rate and a percentage rate (“the Prescribed Sum”).
b. Should a change occur due to a change in the Repo Reference Rate, Afriq Finance will adjust the applicable interest rates, according to the effect of such change on the Prescribed Sum, and notice thereof will be given in writing to You by no later than 30 business days after the day on which any such change takes place.

3.Installment
A delay in making payment of the first installment may result in extra installments and costs. You hereby consent to any additional installments and/or costs which may result from a delay in payment and to such amount being received by Afriq Finance.

4.Default
You are in default of the Loan if You:
4.1 Do something You have agreed not to do or do not do something you have agreed to do, under the Loan Agreement;
4.2 Give Us incorrect, misleading or deceptive information in connection with this Loan Agreement;
4.3 Commit a breach of any of the declarations provided by You to Us;
4.4 Fail to make payment of any amount due in terms of the Loan agreement;
4.5 If You are in default, We will give You a written notice advising You of the default in the manner and at the address which you have elected in the Application and advising You that You may refer the matter to an alternative dispute resolution mechanism or resolve it with Us or if You cannot pay Your debts to apply to a debt counselor;
4.6 If You get a notice to remedy the default, the notice will specify the time you have to do so. If You do not or are unable to remedy the default within the time period specified in the notice, and You do not elect to utilize any other alternative means to resolve any dispute then the Settlement Value under the Loan Agreement will immediately become due for payment to Us.
4.7 If You remain in default after the notice, We will then be able to institute action for payment of the Settlement Value provided that You have been in default for at least 20 working days and provided that at least 10 working days have elapsed since We provided written notice to You of the default.
4.8 In addition, upon the occurrence of a default, We will charge the default interest rate set out in the Quotation on any amounts due, owing and payable to Us from the date that it became due for payment, to the date of payment thereof.

5.Termination
Afriq Finance reserves the right, upon serious breach of contract to terminate this Agreement and proceed with legal proceedings.
Which proceedings may result in a Court enforcing the repayment of Your obligations in terms of this agreement.

6.Statements
You hereby consent that Afriq Finance may send EMAIL/ SMS/MMS/USSD to Your computer/cellphone with regard to Your outstanding balance(s), when Your installment is due and payable, when You are in arrears with Your payments and other related matters.
We will keep your Personal Information confidential and only give it to others
when there becomes a serious noncompliance issue in regard to signed agreements and this 3rd party include;
Our agents and subcontractors, acting for us, to use for the purpose of operating our lending business and obtaining payment in terms of this Loan Agreement or any other agreement You have with Us.

7. Interest
Our interest rate for;
Personal Loan: 4.2%
Capital Business Loan: 7%

8.Your Undertakings
By signing this Loan Agreement, You:
8.1 accept all of the terms and conditions of the Loan Agreement;
8.2 agree to be bound by all of the declarations and terms contained in the Loan Agreement and those contained in the Application;
8.3 acknowledge that the Loan Agreement has been explained to You and You understand and appreciate the risks, costs, rights and obligations in the Loan Agreement above;
8.4 You declare, warrant and undertake to Afriq Finance from the date of signature of this Loan Agreement, and until all Your obligations in terms of the Loan Agreement will be fully discharged.
In Compliance with the Above, place a call to us upon reception of this mail.
Phone: +27676119037

MR. HENRY McGRADY
MANAGER
AFRIQ FINANCE
info@afriqfinance.com
www.afriqfinance.com