Terms and Conditions

Acknowledgment of Loan Application

The Borrower acknowledges that he/she has applied for a loan from Aperta Capital Limited ("the Lender") in the amount specified in the loan application ("Capital"). By submitting a loan application, the Borrower agrees to be bound by these Terms and Conditions.

1. Loan Period and Repayment Schedule

The loan is granted for the period specified in the loan application, starting from the disbursement date and as described in the Repayment Schedule. The Borrower agrees to make repayments in accordance with the schedule provided at the time of loan approval. All repayments shall be made in Zambian Kwacha (ZMW).

2. Subsequent Loans

The Borrower acknowledges that in the event of applying for any subsequent loan, such loan will:

• Be governed by the terms of this Agreement;
• Be reflected in an addendum bearing a unique reference number.

3. Disbursement of Capital

The Borrower acknowledges that he/she is lawfully indebted to the Lender for repayment of the Capital together with interest and fees as accrued thereon. The Capital shall be disbursed at the discretion of the Lender, subject to the satisfactory completion of all application requirements and credit assessments. A service fee, as specified for the applicable loan type, will be deducted from the loan amount at the time of disbursement. Interest is calculated on the full loan amount.

4. Service Fee

The Borrower acknowledges and agrees that a service fee (as a percentage of the loan amount) shall be deducted from the loan proceeds at disbursement. The service fee percentage is determined by the loan type selected and is clearly displayed prior to submission of the application. For example, if a service fee of 10% applies to a loan of K10,000, the Borrower will receive K9,000, while interest shall be calculated on the full K10,000.

5. Interest Rate

The Capital lent and advanced by the Lender shall accrue interest at the rate specified in the loan application and Repayment Schedule. The Lender reserves the right to provide the Borrower with monthly statements reflecting the outstanding balance, interest accrued, and payments received.

6. Employment and Repayment Obligations

The Borrower declares and warrants that he/she is gainfully employed or has a verifiable source of income sufficient to meet the repayment obligations under this Agreement. The Borrower undertakes to notify the Lender in writing immediately should his/her employment or income circumstances change materially.

7. Delayed Payments

The repayment schedule is based on the presumption that all instalments will be paid on the due dates specified. Should any instalment not be paid on the due date, the Lender reserves the right to:

• Charge a late payment fee;
• Report the delinquency to credit bureaus;
• Demand immediate repayment of the full outstanding balance.

8. Collateral

Where a loan is classified as a Collateral Backed Loan, the Borrower agrees to pledge the specified assets as security for the loan. The Lender reserves the right to take possession of and dispose of the pledged collateral in the event of default, in accordance with the laws of the Republic of Zambia. The Borrower warrants that any collateral pledged is free from encumbrances and is legally owned by the Borrower.

9. Right to Demand Immediate Repayment

If any amount is not paid by the Borrower on its due date, the full amount of Capital, interest, and all other amounts then outstanding shall become immediately due and payable at the sole discretion of the Lender. The Lender shall have the right to institute legal proceedings against the Borrower for recovery of all outstanding amounts.

10. Right to Restructure

The Lender reserves the right to restructure the repayment schedule on such terms and conditions it may deem fit:

• Lender-Initiated Restructure: Where the loan is in default for a continuous period of thirty-one (31) days, the Lender may restructure the repayment terms, including extension of the loan term, adjustment of instalment amounts, revision of the repayment frequency, capitalisation of arrears, or revision of the applicable interest rate.
• Borrower-Initiated Restructure: The Borrower may request a restructure at any time by submitting a written request with reasonable evidence of financial hardship. The Lender shall communicate its decision within fourteen (14) business days.

Interest shall continue to accrue on the outstanding principal balance during the restructure process unless otherwise agreed in writing.

11. Proof of Indebtedness

The Borrower agrees that a certificate signed by or on behalf of the Lender stating the amount of the Borrower's indebtedness shall be accepted as sufficient proof of such indebtedness in any legal proceedings.

12. Credit Bureau Disclosure

The Borrower agrees that the Lender may disclose payment behaviour, defaults, and outstanding balances to credit reference bureaus operating in Zambia. This information may affect the Borrower's ability to obtain credit from other financial institutions.

13. Assignment of Rights

The Lender shall have the right to cede, assign, or otherwise transfer any rights arising from this Agreement to a third party without the prior consent of the Borrower. The Borrower shall not cede or assign any of his/her obligations under this Agreement without the prior written consent of the Lender.

14. Allocation of Payments

Notwithstanding any instruction by the Borrower, the Lender may, at its discretion, allocate any payments received in the following order: fees, interest, and then principal. The Lender reserves the right to change this order of allocation.

15. Security of Payments

The Borrower acknowledges that under no circumstance in the process of settling any loan instalments or repayments will cash be paid to any staff member of Aperta Capital. All payments must be made through the designated payment channels communicated by the Lender.

16. Consent for Personal Information Use

The Borrower hereby consents that all personal information obtained through the loan application may be used for:

• Credit assessment and loan processing;
• Account administration and collections;
• Compliance with legal and regulatory obligations;
• Communication regarding the loan and related services.

The Lender shall handle all personal information in accordance with the Data Protection Act of Zambia.

17. Marketing Communications

The Borrower consents that Aperta Capital, its affiliates and subsidiaries may send advertising and promotional material related to financial products and services. The Borrower may opt out of marketing communications at any time by contacting the Lender.

18. Language and Understanding

The Borrower agrees that this Agreement has been presented in a language that he/she understands, and that the Borrower is fully aware of the meaning and implications of all clauses contained herein.

19. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the Republic of Zambia. Any disputes arising from this Agreement shall be subject to the jurisdiction of the courts of the Republic of Zambia.

20. Investment Terms

For investors registering interest through Aperta Capital's investment platform:

• Investment returns are projected and not guaranteed. Actual returns may vary based on market conditions and borrower performance.
• The Investor's capital is deployed into loans to creditworthy borrowers vetted by Aperta Capital.
• Investment periods and terms will be agreed upon in a separate investment agreement upon approval.
• Aperta Capital shall provide regular updates on investment performance.
• Early withdrawal may be subject to penalties as specified in the investment agreement.

Declaration

I declare that the information given in this application is true and complete. I understand that any misleading information or omissions will be sufficient grounds for termination of the application and agreement. I confirm that I have read, understood, and agree to be bound by these Terms and Conditions.