Terms and Conditions

Section I. Parties (Lender & Borrower)
Lender
• Prime Four Investments Limited
• Registration number: 120180001807
• Legal address: P.O. Box 33303, Lusaka-10101
• Telephone: 0211 228572
• Actual address of the service provision: Mezzanine Floor, Findeco Building, Cairo Road, Lusaka, Zambia

Borrower
• Client Registered on USSD to access Prime Four Investments Limited Loans

Section II. Key Provisions
1. Product Interest Rate
One week loan 4%
Two-week loan 9%
Three-week loan 11%
One month loan
Two month loan
Three month loan 17%
Penalty for late payment per day 0.03%
2. The Loan Amount, Interest and Contractual charges may be paid to the Lender by direct debit, or cash at the Branch, or through bank transfer, or via *384*3# loan repayment. In case of the bank transfer to the Lender’s account, the Borrower should specify the following in the payment details:
1. In the case of the Loan Amount and Interest: Loan repayment – NRC No. & Contract Number; or
2. In the case of other contractual charges: Other fees – NRC No. & Contract number.
3. Details for making payment:
Prime Four Investments Limited; Account Number: 566082650018, ZANACO, Government Complex Branch
1. Prime Four Investments Limited; Mobile Money Account Number: 0775 946957; Airtel Mobile Money
2. Via *384*3# under Loans, Loan repayment
3. Via Cash at any of the Prime Four Investments Limited branches (www.primefourgroup.com for branch contact, and physical details)

PLEASE USE YOUR LOAN NUMBER OR NRC AS REFERENCE FOR PAYMENT
The Borrowers by Pressing one to Proceed on Prime Four USSD loan facilities confirm that:
1. The information regarding the Borrower specified in Section I of the Contract is correct and true;
2. The Telephone number and the Borrower’s e-mail address indicated in Section I of the Contract may be used as the means of identification of the Borrower and as the means of communication with the Borrower, including, for the Borrower to request amendment of the Credit Line limit or granting of the Loan Amount, for the Lender to propose amendments in provisions of Section I or II of the Contract to the Borrower, for the Borrower to approve amendments in provisions of Section I or II of the Contract, and for the Lender to grant the Loan Amount to the Borrower to the current account specified in Section I of the Contract;
3. The Borrower has become cognizant with Key Provisions of Section I the Loan Amount provisions of Section II and General Provisions of Section III of the Contract, agrees with the same and is fully aware of their liabilities derived from the Contract (as well as of the obligation to pay the payments outstanding until this day);
4. The Borrower is legally capable to act and is not under the influence of alcoholic, narcotic, and/or psychotropic substances.

Section III. General
Definitions
1. Lender’s account: any current account of the Lender specified in Section I.
2. Credit limit: the Loan Amount limit specified by Section 2, within which the Borrower may use a credit granted by the Lender.
3. Loan Amount: received and outstanding credit amount as specified by Section 2, Received within the Credit Line limit by the Borrower.
4. Full payment date of the Loan Amount: the date specified by Section 2, When the Borrower has to make full repayment of the Loan Amount.
5. Borrower’s e-mail: the Borrower’s electronic mail address as specified in the Contract, where the Borrower is its only user.
6. Borrower’s account: any current account of the Borrower specified in the Contract, Branch, calling from the Telephone number or in the Profile, or a current account, from which the Borrower has ever made transfer to the Lender.
7. Total amount to be paid to the Borrower: the amount as specified by Section 2, Which is calculated in accordance with the Cost of Business Regulations.
8. Contract: the present Loan Contract concluded between the Parties and comprising Section I, Section II and any amendments and/or annexes thereto.
9. Monthly Payment date: next payday date (and subsequent paydays in case of each rollover).
10. Cost of Business Regulations: The Banking and Financial Services (Cost of Borrowing) Regulations, 1995.
11. Late payment interest: contribution for delayed repayment of the Loan Amount as specified by Section II, Clause 6, will be charged at 30% of the principal amount per month
12. Cost of Business Regulations: The Banking and Financial Services (Cost of Borrowing) Regulations, 1995.
13. Maximum Credit limit: The Loan Amount limit specified by Section 2, to which the Credit Line limit might be increased in the future at the discretion of the Lender.
14. Interest: consideration for use of the Loan Amount.
15. Interest rate: interest rates specified by Section 2, which interest rates are liable to variation by the Lender in line with market conditions and any directives issued by the Regulator.
16. Late payment interest: contribution for delayed repayment of the Loan Amount as specified by Section 2, will be charged at 30% of the principal amount per month
17. Arrangement fees at a rate of 10% will be deducted from the sum applied, upfront.
Subject-Matter of the Contract and Granting of the Loan Amount
19. The Lender shall grant the Credit limit to the Borrower, allowing for the Borrower repeatedly to request, to receive and to use the Loan Amount during the validity of the Contract.
20. The Borrower shall request a Loan Amount within the Credit limit at the desirable repayment term in the Branch, by calling from the Telephone number or through the branch
21. The Lender upon receipt of each request from the Borrower shall make amendments to Section 2 of the Contract and offer the same for conclusion to the Borrower.
22. The Borrower shall approve amendments offered by the Lender in Section 2 of the Contract in the Branch, by telephone from the Telephone number
23. The Lender in accordance with direction of the Borrower, shall grant each Loan Amount in cash in the Branch or transfer the same to the Borrower’s account.
24. The Borrower undertakes to repay to the Lender each Loan Amount and to pay Interest pursuant to the appropriate amount and time limit. The Borrower may, with the consent of the Borrower and upon payment of the Extension Commission, extend the period within which to repay the Loan amount to the next Monthly Payment date.

Repayment and Payment of the Contractual Charges
25. The Borrower shall make contractual payments pursuant to the amount and within time limits specified under the Contract through DDACC transfer from the Borrower’s account, to the Lender’s account or in cash at the Branch.
26. If the Borrower delays repayment of the Loan Amount and/or Interest, then Late Payment Interest shall be calculated for delay with the repayment term of the Loan Amount from payment of the delayed part of the Loan Amount for each delayed day.
27. If the Borrower does not inform the Lender of his/her intention to repay the loan repayment in full [3] days after to the due date, it shall be deemed that the Borrower by default has agreed to a loan extension, from which the Lender will charge automatically additional interest of 30% per month
28. The Borrower prior to the date of full repayment of the Loan Amount may fully or partly comply with their contractual obligations for the time period until use of the rights specified by the present Clause of the Contract.
Rights and Obligations of the Parties. Other Provisions.
29. The Borrower shall notify the Lender of changes to the Borrower’s information (including the Borrower’s e- mail, Telephone number, Borrower’s account) specified in the Contract, personal identity document, residential address or work place within 5 working days by calling from the Telephone number, via email, or in the Branch.
30. The Lender may request from the Borrower approval of the information change through telephone, by using Telephone number, email, in the Branch and/or otherwise. The Lender until that time may decline to grant the Loan Amount or decline to extend the repayment term of the Loan Amount.
31. The Borrower’s identification and communication with the Borrower through telephone shall be binding on the Parties if the telephone conversation has taken place by using the Telephone number, and during which the Lender has been provided with the information required by it regarding the Contract. The Lender shall record such telephone conversations.
32. The Lender may suspend or terminate the Borrower’s identification and/or communication with the Lender through telephone, by using the Telephone number, or through email and to require that particular activity is made in the Branch. The Borrower will have no complaints against it.
33. The Borrower in the Branch, by calling from Telephone number or through email, may receive information regarding the Borrower’s contractual obligations free of charge. If the Borrower delays contractual charges for more than 10 days, the Lender may send a reminder, by deduction of the debt recovery expenditures.
34. The Borrower’s payment not complying with the contractual provisions is not deemed to be received until the time of its identification. The Lender may determine a sequence whereunder contractual obligations of the Lender are extinguished.
35. The Credit Line limit may be increased up to the Potential Credit Line limit at the Lenders discretion, through assessment by the Lender of the Borrower’s ability to repay. The Lender may decline to increase the Credit Line limit or to reduce the same, if in the discretion of the Lender the solvency of the Borrower has changed.
36. The Parties pursuant to the present Contract shall novate the Obligations of the Parties derived from the Loan Contract concluded between the Parties (if any has been concluded hitherto) as specified by Section I of the Contract shall be renovated pursuant to the present Contract by the Parties.
37. The Borrower agrees that the Lender makes use of the Borrower’s e-mail and Telephone number for the purpose of sending commercial messages regarding the Lender or regarding third parties related to the Lender.
38. The Lender may terminate the Contract and demand from the Borrower premature fulfilment of the contractual charges including the payment of the Loan and interest, when 1) the Borrower has provided false information, or forged documents 2) the Borrower delays the time limits prescribed by the Schedule for more than 7 days, 3) significant circumstances which had constituted the basis for conclusion of the Contract.
39. If a dispute between the Parties is not resolved via negotiations, it shall be resolved by the Courts in Zambia.
40. The Lender may assign any of its rights under the Contract to another bank or financial institution or to a trust, fund or other entity without the prior consent of the Borrower.
41. Where the Lender assigns its rights under this Contract, the Lender may disclose to third parties revenues, expenditures, credit history, gender, age, address and other information, but may not disclose given name, surname, personal identity number, contact information and image of the Borrower.
42. In the event of an assignment, the Borrower will be notified by way of telephone (including text messages, by email or via telephone.
43. The Borrower agrees to their data processing (including, upon receipt of the Loan application), and allows for the Lender to receive data regarding the Borrower from third parties and to hand over to them the data regarding the Borrower and the Contract in order to ascertain the Borrower’s obligations and to assess the Borrower’s solvency.
44. The Lender may create the Borrower’s credit history regarding the Borrower’s liabilities, and may deliver the data regarding the Borrower to other creditors of the Borrower (including future). Upon the Lender’s request the Borrower has to submit within 7 days the documents regarding income and expenditures for a recent period.
45. The Borrower acknowledges that where the Borrower defaults on his/her obligations under the Contract, the Lender will notify the credit reference agency of such default and the Borrower will be liable to have his/her account data retained by the credit reference agency until the expiry of seven (7) years.