Terms and condition for Awash-Lehulum

I. Definitions

For the purposes of this agreement, unless stated otherwise, the following words shall have the following meanings:

“Financial Institution” means Awash Bank.
“I”, “me”, “my”, “You”, “Yours” refers to the primary Credit Applicant, as applicable.
“Service Providers” means all of Financial Institution’s affiliates, networking agents, employees and other agents, including, but not limited to, service providers that the Financial Institution has engaged to provide the services necessary to deliver lending services to the Credit Applicant and any Joint Applicant, as applicable like Service Cops Limit.
“Account” means customer Loan, saving, current or special deposit saving account with Awash Bank;
“Administration Fee” is the fee charged on loan disbursal and is a fixed percentage of the Loan Amount;
“Credentials” means applicant of customer personal credentials used to access the Awash-micro lending, initiate requests and access the Services;
Credit Limit” means the maximum pre-approved amount that a Customer can borrow on the Awash-Lehulum System;
“Customer” means a person whose name is registered in the Awash Bank CBS with valid identification details and a registered mobile phone number;
“Loan” means a loan disbursed electronically by the Lender to a Customer of Awash Bank account, by available payment option selected by the Customer upon a Customer’s request.
Lehulum means the Lenders electronic lending and communication software enabling the Customer to communicate with the Lender for the purpose of accessing the Facility and Services;
“Late Repayment Charge” means a charged at the rate of 0.50% -2% depanding on the loan duration on the unpaid principal amount any outstanding amounts which have become due but remain unpaid on the Repayment Date;
“Repayment Date” means the day that the Loan instalment shall be due for repayment from the date of disbursement of the Loan, and on any other such consecutive day for Facilities with a repayment period exceeding specified days;
“Request” means a request or instruction received by the Lender from you or purportedly from you through your Mobile Network Operator and the Lehulum System and upon which the Lender is authorized to act;
“Service” means and shall include any form of Loan, payment solution, transfer service, or Request that the Lender may offer you pursuant to this Agreement as you may from time to time subscribe to, and “Services” shall be construed accordingly;
“Equipment” means and shall include your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Awash Bank Micro-Lending System and use the products and services availed to you by the Mobile Network Operators subject to such term and conditions agreed between you and the Mobile Network Operators;
The word “Customer” shall include the masculine and the feminine gender as well as juristic persons;
Words importing the singular meaning where the context so admits include the plural meaning and vice versa.

Acceptance of the Terms and Conditions:

Before applying for the Service you should carefully read and understand these Terms and Conditions which will govern the provision, use, operation and management of the Service.
If you do not agree with these Terms and Conditions, please cancel the Registration by failing to confirm your Tax Identification Number, Mobile Phone Number and Personal Details.
You will be deemed to have read, understood and accepted these Terms and Conditions: –-upon confirming TIN, Mobile Phone Number and Personal Details either through the USSD Service or mobile Phone Application
– acknowledging the receipt of the Registration text message and successfully accessing the Service on first use; -by using or continuing to use and operate the Service

By applying to access the Service with the Awash Bank you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Service and you affirm that these Terms and Conditions herein are without prejudice to any right that the Lender may have with respect to the Service in law or otherwise.
These Terms and Conditions may be amended or varied by the Lender from time to time and the continued use, access, enjoyment of the Service constitutes your agreement to be bound by these terms and conditions or any such amendment, addition, deletion or variation.
You acknowledge and accept that the Lender offers the Service by electronic means via the Awash-Lehulum portal, Awash Birr, teller module and Lehulum separate application.
By using the Awash-Lehulum System 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 Awash-Lehulum system.

III. Personal Information

You hereby agree and authorize the Lender to verify information provided by you to the Lender against the information held by the Digital Micro Lending Providers when full or semi integration is enabled with in relation to your digital lending Account pursuant to the agreement between you and the Awash Bank for the provision of its products and services and the Digital Lending
The information that the Lender may verify against the information held by the Awash Bank includes (without limitation): your phone number, name, date of birth, Tax Identification Number (TIN), Identification Number (“ID”) or Passport Number and any other information that will enable the Lender to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”).
You hereby agree and authorize the Lender to verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment
You hereby consent to the Lender verifying the Personal Information and the Relevant Information with credit provides and using of the Personal Information and the Relevant Information to the extent necessary in the opinion of the Lender to provide you with the Services.
You hereby agree and authorize the Lender to obtain and procure your Personal Information and Relevant Information from your respective Digital lending Provider and you further agree and consent to the disclosure and provision of such Personal Information by the Digital Lending provider and further to indemnify and hold the Lender and the Mobile digital lender 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.
The Lender reserves the right to request for further information from you pertaining to your request for a Loan, Service or to access at any time. Failure to provide such information within the time required by the Lender may result in the Lender declining to accept your request

3.1. KYC

Customer shall have legal and renewed identification card, or driving license, employment ID or passport for application on digital lending services
The customer shall register to Revenue Authority and acquire Tax Identification number for Awash Bank Micro-credit lending purpose
Customer shall have permanent residential address, contact number such as mobile, residential phone number, email,
A person shall have the nationality of the Democratic Republic of Ethiopia and lives in Ethiopia indefinitely

Account information

Customer shall have existing saving or current account or need to open the mentions account and need to have transaction history for at least six months
The minimum daily balance in one of the accounts shall not be less than Br. 100
Minimum number of transaction during a single month shall not be less than four
Customer shall have permanent source of fund account in Awash Bank evidencing for the reliable repayment of the loans. In addition,
Customer shall open Awash Birr or Wallet account to access privilege of micro-lending

Product terms and condition

Customer shall be age of 18 or above
Shall have reliable source of income
Opened any of special deposit saving account in Awash Bank
The Bank shall collect processing fee first on the disbursement date.
The Bank shall collect interest on the daily base.
Interest and late fees shall be collected first on repayment
The bank shall collect penalty charge on outstanding principal due on daily basis

Product terms and tariff

Product Awash Digital Micro-Loan Description

Awash-Lehulum Credit Minimum loan amount Br. 100
Maximum loan amount Br. 20,000
Loan Period from 1 day – 3 Month
Interest Rate is based on the loan amount & Duration on the daily bases.
Repayment can be on Daily / Weekly/ Bi-Weekly/ Monthly.
Loan Processing Fee depends on the loan duration of the loan amount as (For 1 day & 1 week is 1.25, For 2week is 2.5, for 1 Month is 3%, for 2 Month is 4% for 3 Month is 5%)
Late Payment Fee Penalty charged is charged based on the loan duration ( For 1 day is 2% , For 1 & 2 Week is 0.5 % , Above 1 Month is 0.75 % )
Penalty charged on the daily basis of the outstanding principal until overdue payments are cleared

5.1. Contract Agreement

The applicant shall read and sign digital contract before loan disbursement and the same is confirmed by micro-lending system

5.2. Disbursement condition

The loan shall be automatically credited to funding account designated by the customer after all terms and condition before loan disbursement is fulfilled and confirmed by system

Customer’s Responsibilities

You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the Awash-Lehulum Digital Lending Services
You shall be responsible for ensuring the proper performance of your Equipment. The Lender shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall the Lender be responsible for any computer virus or related problems that may be associated with the use of the Awash-Lehulum, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Awash-Lehulum and the Lender shall not be responsible for losses or delays caused by any such service provider.
You shall follow all instructions, procedures and terms contained in this Agreement and any document provided by the Lender concerning the use of the System and the Services.
You 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 unauthorized person. The Lender shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold the Lender harmless from any losses resulting from any disclosure of your Credentials.
You shall take all reasonable precautions to detect any unauthorized use and access of the System and the Services undertaken using your Equipment. To that end, you shall ensure that all communications from the Lender are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the Awash-Lehulum will be detected. You shall immediately inform the Lender in the event that:
You have reason to believe that your Credentials are or may be known to any person not authorized to know the same and/or have been compromised; and/or
You have reason to believe that unauthorized access and use of the Awash-Lehulum and the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.
You shall at all times follow the security procedures notified to you by the Lender 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 Personal Information, Relevant Information and such other information held by the Lender in connection to the Services and Requests made by you to the Lender in 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 you or a person authorized by you to do so.
You shall not at any time operate or use the Services in any manner that may be prejudicial to the Lender.

VII. Customer Application

To apply for a loan using the Digital Lending Service, I and the Joint Applicant must each duly and fully complete, electronically sign, and securely transmit a Credit Application, and all other materials and information required by the Application, to the Awash Bank.
Provide personal information for use in conducting identity checks; and
Provide all other information, answer all questions, click all buttons, and tick all boxes as prompted.
By applying for a loan using the Digital Lending Service, I authorize the Awash Bank and its service providers to: Obtain credit, financial and other financially-related information as required from credit agencies, financial organizations, and each source is hereby authorized to provide the Financial Institution with the credit, financial and other financial-related information as required. Awash Bank is hereby authorized to retain this application for the its records. o Conduct, or arrange for another agency to conduct, identity and payment verification checks from time to time; o Assess my application based on the results of the credit, identity, and payment checks; and Issue a decision to grant or deny my application
The decision to approve a Credit Application submitted through this Digital Lending Service and authorize a credit limit is final and at the sole discretion of the Awash Bank.
If my Credit Application is approved, I authorize the Awash Bank and its’ Service Providers to monitor and/or record my telephone conversations with any Financial Institution representatives to help ensure quality service.

I understand that to evaluate my credit application and to continue monitoring my credit status after the loan is approved and advanced, and for the other purposes I consent to below (the “object of the file”), a personal information file containing credit and other personal information will be created. Only those employees of Awash Bank and its’ affiliates whose job functions involve assessment of creditworthiness, credit applications, monitoring, processing of payments and matters relating to the object of the file, will have access to my file. If I wish to consult my file or make corrections to it, I may do so by written request at the following address: Microloan.awashbank.com
I agree that Awash Bank may use my TIN, Passport no. or any other valid ID no as an aid to identify me with credit reporting agencies and others for credit history file matching and other administrative purposes. I acknowledge that I am not required to provide that number to you for these purposes.
I consent to, and acknowledge that these Terms and Conditions are prior written notice of its intention to do so, the Financial Institution obtaining, disclosing or exchanging any credit, personal information about me (including information contained in my personal information file) from, to or with any credit reporting agency, personal information agent, credit grantor or insurer, my employer or personal references in connection with any relationships between us or those which you or I may (policy reference no.) wish to establish
The Financial Institution and its Service Providers may use and disclose any of the information relating to me or my Account in its or their possession for any purpose related to the delivery of the requested loan services, the proper maintenance and administration of my Account, and the collection of any loan made to me. I also consent to the use and disclosure by the Financial Institution at any time of all such personal and other information for the purposes of offering me any other service offered by the Financial Institution or any product or service offered by the Financial Institution affiliates and networking agents that the Financial Institution believes may be of interest to me, or to share with potential and actual purchasers from the Financial Institution of my loans. I acknowledge that I am free to withdraw my consent for use and disclosure of my information for other products and services at any time and no longer be provided by Awash Micro lending services.
I represent and warrant that I am not being sued and there are no judgments or executions against me unless so stated on my current application. I also affirm that I am legally viable and capable to access Awash Micro-loan facilities.
I represent and warrant to you that the information given herein is in all respects true, accurate and complete. I understand that it is being used to determine my credit worthiness. If any part of this statement is incorrect or if there is a breach of this agreement, then I hereby agree that all my present and future indebtedness to Awash Bank shall become due and payable without notice or demand.

VIII. ELECTRONIC Application and SIGNATURE CONSENT

I agree Awash Bank electronically to process my micro loan through Lehulum Micro-loan application platform
If my Credit Application is approved, I agree to receive electronically all disclosures, communications, notices, and other information that the Awash Bank may send to me or be required to send to me under applicable law or otherwise pursuant to the terms and conditions set forth below
Scope of Consent My Electronic Signature Consent applies to any transactions undertaken by me with Awash Bank, or any of our affiliates, assigns, agents or representatives, including use of the Digital Lending Service, any communication from the Awash Bank or its’ representatives or agents to me, including all disclosures, communication, notices, and other information required to be given to me under applicable law, any other information required by law to be provided either before or after my loan is issued, my loan agreement, billing statements, adverse action notices, any updates to my account, in each case, pertaining to any transaction with Awash Bank or any use of the Digital Lending Service whether now or in the future. My consent will remain in effect from the time I initially apply for the Digital Lending Service sites until such time as my account is terminated and, once terminated, will continue until such a time as all disclosures relevant to my account have been provided.
Means of Communication. If my Credit Application is approved, I agree that the Financial Institution may send any disclosures in relation to the resulting loan to me via email to the email address that I have provided to the Financial Institution or via text message to the mobile telephone number that I have provided to the Financial Institution. If applicable, the Financial Institution may also post disclosures to me through any existing internet banking channel I may have with the Financial Institution, or on the Financial Institution’s websites. I agree that the Financial Institution shall not be liable for any loss I may suffer as a result of my failure to receive or read any disclosures sent by the Financial Institution via text message, public website posting or posted to my account and accessible by me through an existing internet banking channel.
Changes to my Contact Information. I agree to keep the Awash Bank informed of any changes in my residence address and mobile phone number so that I can continue to receive all disclosures in a timely fashion. I agree to waive any liability imposed upon the Awash Bank to provide disclosures if I fail to notify the Financial Institution of changes to my residence address and/or mobile phone number.
Legal Effect. My electronic signature consent means that any disclosures shall have the same meaning as if provided in paper form. Any disclosures or other communication sent to me via email or text message shall be deemed delivered once received on my device. By pressing buttons or ticking boxes entitled “Apply”, “Accept and Checkout”, “Submit”, “Confirm”, “Verify”, “I Agree” or similar buttons and boxes indicating my authorization, I am providing my electronic signature with the same effect as if my signature had been provided on paper. I hereby waive any and all defenses I may have to the enforceability of any loan resulting from this Credit Application that are based on the allegation that this Credit Application, any resulting loan agreement, any privacy consents contained therein, or any disclosures were supplied to me, were delivered in electronic form only, or on the allegation that my signature or to the loan agreement was obtained electronically.

Awash-Lehulum APP- Micro- Lending Services Terms of Use

By using the Awash-Lehulum Lending Service software made accessible by this Lehulum Version , you agree to both these terms and conditions and the terms and conditions of the Awash Lehulum Privacy Policy which are incorporated herein by reference (collectively, the “Terms of Use”). These Terms of Use also apply to future updates or supplements to the DLS or DLS software, unless those updates or supplements explicitly provide otherwise. If you do not agree to any of these Terms of Use, please do not further process or use the DLS. These Terms of Use apply to all users of the DLS. If you complete a Credit Application using the DLS, additional terms and conditions will supplement these Terms of Use.

TERMINATION OF DLS ACCESS

Awash-Lehulum may suspend or terminate your license to use the DLS immediately by a notice given to you using any contact information noted in its records and any means permitted by law if:
You commit a breach of a provision of these Terms of Use, as determined by Awash-Lehulum, in its unfettered discretion, or reasonably suspects that a breach has occurred or is imminent;
Awash-Lehulum considers that such suspension or termination is necessary to protect the integrity or security of any of its information systems at any time;
Awash-Lehulum forms the opinion that you are unable to pay your debts as they become due or have no reasonable prospect of so doing; or
You make an assignment into bankruptcy or become the subject of a bankruptcy petition or order.
If Awash-Lehulum suspends or terminates your license to use the DLS, all of your rights to use the DLS shall immediately cease, and you agree to cease all activities involving the use of the DLS.
Termination or suspension of a license to access the DLS shall not affect any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of suspension or termination, including the right to claim damages in respect of any breach of the provisions of these Terms of Use that existed at or before the date of suspension or termination
XI. Conditions to Up Lift Account Termination
If the applicant of the DLS pays all the past dues
If the judiciary organ uplifts the previous applied court orders