A. TERMS:
1. Disbursement is subject to availability of funds and statutory regulation.
2. Agreed weekly/ monthly installment payment to Monniestack (Leadstack Limited) via any collection medium or other repayment methods decided by Moniestack (Leadstack Limited) Services.
3. The Borrower will reimburse Moniestack (Leadstack Limited) Services on demand, all expenses (including but not limited to legal and insurance expenses and all taxes where-so applicable) thereon incurred by Moniestack (Leadstack Limited) Services in Processing this facility and in suing for or recovering any sum due hereunder or otherwise in enforcing or protecting its rights and interests hereunder.
4. Moniestack (Leadstack Limited) reserves the right to refuse and/or withhold disbursement without
notice.
5. The facility is expected to run its full course and therefore non-cancellable otherwise a non-cancellable fee shall apply.
6. This Offer is subject to external confirmation and authenticity of all documents submitted for the loan application.
7. Where any document submitted by the Borrower is found to be ingenuine or unreliable this offer will automatically terminate.
8. Pre – liquidation: Customer consents to the payment of full interest for the day/ week/ month of liquidation and interest for one more day/ week/ month.
B. EVENT OF DEFAULT: The occurrence of any of the following shall cause all outstanding sums under this facility to become immediately repayable:
1. If the Borrower fails to settle when due, any outstanding amount owed to and advised by Moniestack (Leadstack Limited) Services Ltd;
2. If the Borrower defaults in the performance or the observance of any term or /and conditions here-above stated;
3. Where Moniestack (Leadstack Limited) Services gives notice of said breach/default to the borrower, and said breach/default continues and remains unalleviated after seven(7) days default charges apply.
4. Where repayment of the facility is not discharged as at when due (with reference to the monthly installment payment and other outstanding amount
applicable to the facility), Moniestack (Leadstack Limited) Services has the right to upload customer’s
data as delinquent on the Credit bureau. 5. Returned cheques/failed remita shall attract an additional charge per return.
6. Should any of the rentals remain un-paid, for any reason whatsoever, a penalty of the amount of the rental shall be payable for each day of the period that the rental remained unpaid.
C. GENERAL:
1. All cheques and transfer must be made in the name of Moniestack (Leadstack Limited) to the express
exclusion of any known staff of the company.
2. The Borrower hereby irrevocably and unconditionally consents to Moniestack (Leadstack Limited) providing any and all information on the Borrower’s dealings with it to the credit Bureaus/Registries as it may deem necessary.