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TERMS AND CONDITIONS FOR USING PREMIER CREDIT LIMITED USSD LENDING PLATFORM

  1. THE AGREEMENT
    1. This Agreement sets out the complete Terms and Conditions
      (hereinafter called “these Terms and Conditions”) which shall be
      applicable to USSD LENDING ACCOUNT (as hereinafter defined)
      opened by you (customer) (as hereinafter defined) with the
      Premier Credit Limited (as hereinafter defined).
    2. These Terms and Conditions and any amendments or variations
      thereto take effect on their date of publication.
  2. DEFINITIONS
    1. In these Terms and Conditions, the following words and
      expressions (save where the context requires otherwise) bear the
      following meanings;
      1. “Supakwik Auto” means a monthly loan to Supakwik clients which
        will range from Ush 100,000 to 150,000 to be repayable on a weekly basis.
      2. “Premier Sente” means a two to three month loan product
        ranging from Ush 401,000 to 800,000 with the installment
        payable on a weekly basis.
      3. “Premier Advantage” means a three to six months loan product
        ranging from amounts of Ush 801,000 to 2,000,000 with the
        installment payable on a weekly basis.
      4. “Premier Express” means a three to twelve months loan product
        ranging from amount of Ush 2,001,000 to 5,000,000 with an
        installment payable on a monthly basis.
      5. “SME”, means a loan given to individuals doing business. The
        loan repayment is monthly basis for period within three to 36
        months, with amounts ranging from Ush 10,001,000 to
        130,000,000, and installment payable on a monthly basis.
      6. “SME Unsecured” means a three to twelve months loan product
        ranging from amount of Ush 5,001,000 to 10,000,000 with an
        installment payable on a monthly basis.
      7. “SME Secured” means a three to twenty four months loan
        product ranging from amount of Ush 10,001,000 to 130,000,000
        with an installment payable on a monthly basis.
      8. “Civil Servant Salary Loan” means a loan to civil servants with
        a
        maximum term of 96 months and minimum loan amount of Ush
        100,000 and a maximum loan amount of Ush 30,000,000 based
        on one’s affordability payable on a monthly basis.
      9. “SME logbook Secured”, means a loan to business people whose
        security is a motor vehicle logbook with loan tenure of three to
        18 months payable on a monthly basis with amounts ranging
        from Ush 2,000,000 to 30,000,000.
      10. “Personal Loans” means a loan to private sector employees
        with loan tenure of three to 12 months payable on a monthly
        basis with amounts ranging from Ush 100,000 to 10,000,000.
      11. “Personal Loans Logbook Secured” means a loan to private
        sector employees pledging their motor vehicle as collateral. The
        loan tenure is three to 12 months loan payable on a monthly
        basis with amounts ranging from Ush 100,000,000 to
        30,000,000.
      12. “Premier Credit Limited” means Limited company incorporated in
        Uganda with limited liability, duly incorporated in accordance with the laws of
        the Republic of Uganda, having its registered address at Kisozi Complex, Plot 8
        Nakasero, Off Kyaggwe Road, Box 6608, Kampala, Uganda.
      13. “Credit Reference Bureau” means a credit reference bureau duly
        licensed under the laws of Uganda to collect and facilitate the sharing of
        customer credit information;
      14. “Customer” means the person in whose name the Credit E Loan
        Account with the Premier Credit Limited is existing;
      15. “Customer Care Centre” means the help line whose number is
        0200305000 and the number may be notified to the Customer by
        the Premier Credit Limited from time to time;
      16. “Premier Credit e loan account” means the electronic monetary
        value depicted in your PREMIER CREDIT LIMITED USSD LENDING PLATFORM representing
        an equal amount of cash.
      17. “Equipment” includes your mobile phone handset, SIM Card and/or
        other equipment which when used together enables you to access the Network.
      18. “Request” means a request or instruction received by Premier
        Credit Limited from you or purportedly from you through the Network and the
        System and upon which the Premier Credit Limited is authorized to act;
      19. “Services” shall include any form of micro financing services
        or products that the Premier Credit Limited may offer you pursuant to this
        Agreement and as you may from time to time subscribe to and
        “Service” shall be construed accordingly;
      20. “SIM Card” means the subscriber identity module which when used
        with the appropriate mobile phone handset enables you to access the Network and
        to use the PREMIER CREDIT LIMITED USSD LENDING PLATFORM System;
      21. “SMS” means a short message service consisting of a text
        message transmitted from one mobile phone to another;
      22. “System” means the Premier Credit Limited’s electronic micro
        financing and communications software enabling the Customer to communicate with
        the Premier Credit Limited for purposes of the Services.
      23. “Transaction Fees” includes the Facility Fee (as defined at
        clause 5.8.12), the Rollover Fee (as defined at clause 5.8.14)
        and any other fees and charges payable for the use of the
        Services as published by the Premier Credit Limited on its
        website. Transaction Fees are subject to change at any time at
        the Premier Credit Limited sole discretion.
      24. “We,” “our,” and “us,” means
        the Premier Credit Limited and includes the successors and assignees of the
        Premier Credit Limited.
      25. “You” or “your” means the Customer and includes the personal representatives of
        the Customer.
      26. The word “Customer”shall include both the masculine and the
        feminine gender as well as juristic persons.
      27. USSD (Unstructured Supplementary Service Data) is a Global System for
        Mobile(GSM) communication technology that is used to send text between a mobile
        phone and an application program in the network. The platform that Premier
        Credit Limited uses to deliver the digital lending services.
    2. Words importing the singular meaning where the context so admits include the plural meaning
      and vice versa.
    3. Headings in these Terms and Conditions are for convenience purposes only and they do not
      affect the interpretation of this Agreement.
  3. ACCEPTANCE OF THE TERMS AND CONDITIONS
    1. Before applying to open the Premier credit e loan Account you should carefully read and
      understand these Terms and Conditions which will govern the use and operation of the
      Account.
    2. If you do not agree with these Terms and Conditions, please click “Decline”
    3. You will be deemed to have read, understood and accepted these Terms and Conditions:-
      1. upon clicking on the “Accept” option on the Menu requesting you
        to confirm that you have read, understood, and agreed to abide with these Terms
        and Conditions; and/or
      2. By using or continuing to use and operate the Premier Credit e loan Account.
    4. By applying to open the Premier Credit e loan Account with the Premier Credit Limited, 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 Account and you affirm that these Terms
      and Conditions herein are without prejudice to any right that the Premier Credit Limited may
      have with respect to the Account in law or otherwise.
    5. These Terms and Conditions may be amended or varied by the Premier Credit Limited from time
      to time and the continued use of your Premier Credit e loan account constitutes your
      agreement to be bound by the terms of any such amendment or variation.
    6. You acknowledge and accept that the Premier Credit Limited offers the “Premier Credit e loan
      account” only electronically and you agree to do business with the Premier Credit Limited
      and to operate the “Premier Credit e loan account” only by electronic means via the “Premier
      Credit e loan account” Menu on the PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT
      System. Any query and complaint you may have relating to the Services shall be addressed to
      the Premier Credit Limited through the Customer Care Help line. For the avoidance of doubt,
      you acknowledge and accept that you will not be allowed or entitled to receive or demand the
      Services pertaining to the “Premier Credit e loan account” at any branch or branches of the
      Premier Credit Limited unless otherwise advised by the Premier Credit Limited in its sole
      discretion. You further acknowledge and accept that the Customer Care Centre is not a branch
      of the Premier Credit Limited or the Premier Credit Limited’s Agent for purposes of
      conducting micro financing business or transactions and that it will not act as such.
  4. ACCOUNT OPENING
    1. In order to open a Premier Credit e loan account, you must be at least 18 years old and a
      registered and active PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT Subscriber.
      Premier Credit Limited reserves the right to verify the authenticity and status of your
      PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT.
    2. You may open a “Premier Credit e loan account” solely by way of an electronic application
      made by you using your mobile phone via the “Premier Credit e loan account” by dialing a
      USSD Code *271#
    3. You hereby agree and authorize the Premier Credit Limited to request the telecom companies
      for your personal information held by them pursuant to the agreement between you and telecom
      companies for the provision of services and products and the PREMIER CREDIT LIMITED USSD
      LENDING PLATFORM/ACCOUNT Service including your phone number, name, date of birth, ID, NIN,
      IPPS or Passport Number and such other information that will enable the Premier Credit
      Limited to identify you and comply with the regulatory “Know Your Customer” requirements
      (together the “Personal Information”). You also hereby agree and authorize the Premier
      Credit Limited to request telecom companies for information relating to your use of the
      PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT Service and PREMIER CREDIT LIMITED USSD
      LENDING PLATFORM/ACCOUNT System as the Premier Credit Limited shall require for purposes of
      providing you the Services (“PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT
      Information”). You hereby consent to the disclosure of the Personal Information and the
      PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT Information by telecom companies to the
      Premier Credit Limited and to the aforesaid use of the Personal Information and the PREMIER
      CREDIT LIMITEDUSSD LENDING PLATFORM/ACCOUNT Information by the Premier Credit Limited.
    4. The Premier Credit Limited reserves the right to request for further information from you
      pertaining to your application for a “Premier Credit e loan account” Account at any time.
      Failure to provide such information within the time required by the Premier Credit Limited
      may result in the Premier Credit Limited declining to accept your application for a “Premier
      Credit e loan account” Account.
    5. Acceptance by the Premier Credit Limited of your application for a “Premier Credit e loan
      account” Account shall be done via SMS sent to the Mobile Phone Number associated with your
      PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT You acknowledge and accept that the
      acceptance by the Premier Credit Limited of your application for a “Premier Credit e loan
      account” Account does not create any contractual relationship between you and telecom
      companies beyond the terms and conditions that apply to your PREMIER CREDIT LIMITED USSD
      LENDING PLATFORM/ACCOUNT from time to time.
    6. The Premier Credit Limited reserves the right to decline your application for a “Premier
      Credit e loan account” or to revoke the same at any stage at the Premier Credit Limited’s
      sole discretion and without assigning any reason thereto.
  5. TYPES OF ACCOUNTS

    TERMS & CONDITIONS FOR SUPAKWIK AUTO

    1. As a prequalified customer, you may, subject to these Terms and Conditions, apply for a loan
      from Premier Credit Limited by dialing short code *271#.
    2. Where you apply for a loan from Premier Credit Limited, your application shall be appraised
      according to the applicable loan appraisal processes of the Institution. The Institution
      reserves the right at its sole discretion and without assigning any reason to approve or
      decline your application for a loan based on the appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to an amount of
      Uganda Shillings One Hundred Thousand (100,000 to
      150,000/=) one hundred and fifty thousand or such other
      minimum or maximum amount as the institution may from time
      to time in its sole discretion determine (the “Loan limit”). With
      appraisal fee of 15% deducted at the point of disbursement.
    4. The proceeds of the Loan shall be credited into your PREMIER CREDIT LIMITED USSD
      LENDING PLATFORM
      phone number provided at registration subject to any
      deductions on account of applicable Transaction Fees.
    5. shall repay the Loan within a month through four equal weekly installments from the
      date
      of disbursement of the Loan.

    TERMS & CONDITIONS FOR PREMIER SENTE LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code *271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings Four Hundred one Thousand (Ushs.
      401,000/=) and a maximum amount of(Ushs. 800,000/=), With
      processing fees of 7.5% capitalized and interest of 10% reducing
      balance and loan guarantee fund of 10% of the approved loan
      amount and 10,000 loan application fees
      or such other minimum
      or maximum amount as the institution may from time to time in
      its sole discretion determine (the “Loan limit”).
    4. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      phone number
      provided at registration subject to any deductions on account of
      applicable Transaction Fees.
    5. You shall repay the Loan within two to three months on a weekly
      installment basis.

    TERMS & CONDITIONS FOR PREMIER ADVANTAGE LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code *271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings (Ushs. 801,000/=) and a maximum
      amount of (Ushs. 2,000,000/=), With processing fees of 7.5%
      capitalized and interest of 5% reducing balance and loan
      guarantee fund of 15% of the approved loan amount and 10,000
      loan application fees
      or such other minimum or maximum
      amount as the institution may from time to time in its sole
      discretion determine (the “Loan limit”).
    4. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      phone number
      provided at registration subject to any deductions on account of
      applicable Transaction Fees.
    5. You shall repay the Loan within two to three months on a weekly
      installment basis.

    TERMS & CONDITIONS FOR CIVIL SERVANT SALARY LOAN

    WHEREAS you (hereinafter referred to as the borrower) has applied to PREMIER CREDIT LIMITED for the
    loan facility described above and Premier Credit has agreed to grant the loan facility, it is hereby
    agreed as follows:

    1. As a prequalified customer, you may, subject to these Terms and Conditions, apply for a loan
      from Premier Credit Limited by dialing short code *271# and follow the prompts.
    2. Where you apply for a loan from Premier Credit Limited, your application shall be appraised
      according to the applicable loan appraisal processes of the Institution. The Institution
      reserves the right at its sole discretion and without assigning any reason to approve or
      decline your application for a loan based on the appraisal.
    3. At the Borrower’s request, Premier Credit Limited agrees to make available to the Borrower
      the advised loan amount on the terms and conditions set out.
    4. The Borrower must repay the loan in the installments as advised based on the product
      applied.
    5. No cash should be handed to an employee of Premier Credit Limited and Premier Credit Limited
      shall not take ANY responsibility for money paid to any of its employees.
    6. Upon applying for the loan via our USSD Code 271 our Customer call center team and field
      team shall immediately reach out to you to finalize the loan process as appropriate if you
      are a new customer.
    7. Your loan shall be disbursed through the Bank account that you shall have provided and which
      your salary is credited to on a monthly basis or your registered mobile phone number that
      you will have provided.
    8. By dialing our short code *271# and accepting the Terms and Conditions thereon, you
      authorize Premier Credit Limited to proceed and reserve your affordability on the PCA
      Platform as the loan processing is finalized in respect to Civil Servant Salary loan
      product.

    TERMS & CONDITIONS FOR PREMIER EXPRESS LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code*271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings (Ushs. 2,001,000/=) and a maximum
      amount of (Ushs. 5,000,000/=), With processing fees of 5.5%
      capitalized and interest of 6.6 % reducing balance per month and
      loan guarantee fund of 15% and 20% of the approved loan
      amount and 10,000 loan application fees
      or such other minimum or maximum amount
      as the institution may from time to time in
      its sole discretion determine (the “Loan limit”).
    4. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      phone number
      provided at registration subject to any deductions on account of
      applicable Transaction Fees.
    5. You shall repay the Loan within three to twelve months on a
      monthly installment basis.

    TERMS & CONDITIONS FOR CIVIL SME UNSECURED LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code*271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings (Ushs. 5,001,000/=) and a maximum
      amount of 10,000,000/=), With processing fees of 7.5%
      capitalized and interest of 5% reducing balance and 10,000 loan
      application fees
      or such other minimum or maximum amount as
      the institution may from time to time in its sole discretion
      determine (the “Loan limit”).
    4. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      phone number
      provided at registration subject to any deductions on account of
      applicable Transaction Fees.
    5. You shall repay the Loan within three to twelve months on a
      monthly installment basis.

    TERMS & CONDITIONS FOR SME SECURED LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code*271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings (Ushs. 10,001,000/=) and a
      maximum of 50,000,000/=), With processing fees of 7.5%
      deductible and interest of 5% reducing balance and 10,000 loan
      application fees
      or such other minimum or maximum amount as
      the institution may from time to time in its sole discretion
      determine (the “Loan limit”).
    4. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      phone number
      provided at registration subject to any deductions on account of
      applicable Transaction Fees.
    5. You shall repay the Loan within three to twelve months on a
      monthly installment basis.

    TERMS & CONDITIONS FOR SME LOGBOOK SECURED LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code*271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings (Ushs. 2,000,000/=) and a maximum
      amount of Uganda Shillings(Ushs. 30,000,000/=), With
      processing fees of 7.5% capitalized and interest of 3% flat rate
      and 10,000 loan application fees or such other minimum or
      maximum amount as the institution may from time to time in its
      sole discretion determine (the “Loan limit”).
    4. The product is subjected to tracking, valuation of property and
      insurance.
    5. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      phone number
      provided at registration subject to any deductions on account of
      applicable Transaction Fees
    6. You shall repay the Loan within three to twelve months on a
      monthly installment basis.

    TERMS & CONDITIONS FOR CIVIL SERVANT SALARY LOAN

    WHEREAS you (hereinafter referred to as the borrower) has applied to PREMIER CREDIT LIMITED for the
    loan facility described above and Premier Credit has agreed to grant the loan facility, it is hereby
    agreed as follows:

    1. As a prequalified customer, you may, subject to these Terms and Conditions, apply for a loan
      from Premier Credit Limited by dialing short code *271# and follow the prompts.
    2. The minimum loan amount is 100,000 (one hundred Thousand,
      and maximum amount is 30,000,000 payable on a monthly basis,
      appraisal fees of 12.5% capitalized, 6,000 admin fees, 10,000
      application fees and interest rate, as in the table below;
    3. The total monthly interest rate chargeable is calculated at flat rate on the total
      principal amount which includes capitalized appraisal fees. The interest rate
      per month subject to loan term is as follows:

      Loan
      Term in
      Months
      85-96 73-84 61-72 49-60 37-48 25-36 13-24 3-12
      Monthly
      Flat
      Interest
      Rate
      3.3000% 3.5187% 3.5187% 3.5187% 3.810% 4.7716% 5.6564% 6.5491%
    4. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    5. At the Borrower’s request, Premier Credit Limited agrees to make
      available to the Borrower the advised loan amount on the terms
      and conditions set out.
    6. The Borrower must repay the loan in the installments as advised
      based on the product applied.
    7. 0 should be handed to an employee of Premier Credit Limited
      and Premier Credit Limited shall not take ANY responsibility for
      money paid to any of its employees.
    8. Upon applying for the loan via our USSD Code *271# our
      Customer call center team and field team shall immediately
      reach out to you to finalize the loan process as appropriate if you
      are a new customer.
    9. Your loan shall be disbursed through the Bank account that you
      shall have provided and which your salary is credited to on a
      monthly basis or your registered mobile phone number that you
      will have provided.
    10. By dialing our short code *271# and accepting the Terms
      and Conditions thereon, you authorize Premier Credit Limited to
      proceed and reserve your affordability on the PCA Platform as
      the loan processing is finalized in respect to Civil Servant Salary
      loan product.
    11. You shall repay the Loan within the set term from the date
      of disbursement of the Loan as stipulated in the menu that you
      will have chosen.
    12. In consideration of the Premier Credit Limited granting you
      the Loan, you shall pay the Premier Credit Limited an Appraisal
      fee, Interest and any other applicable charge that you shall be
      advised at loan application as appropriate.
    13. You shall make all payments due from you to the Premier
      Credit Limited in respect of the Loan and Transaction Fees
      through Mobile money, payroll deduction or deposit to Premier
      Credit Limited bank account as appropriate
    14. In the event that you do not repay the Loan in full within
      thirty (30) calendar days of the date of disbursement of the Loan,
      the Premier Credit Limited will automatically roll over any
      outstanding amount in respect of the Loan including the Facility
      Fee and interest for a further period of thirty (30) calendar days
    15. In consideration of the Premier Credit Limited for bearing to
      demand the immediate payment of the outstanding amount due
      in respect of your Loan and rolling over the same pursuant to
      Clause 5.8.13, you shall, in addition to paying the outstanding amount in respect of the
      Loan any outstanding Facility Fee, pay
      to the Premier Credit Limited a roll-over of the outstanding
      amount in respect of the Loan (the “Roll-Over Fee”).
    16. Premier Credit Limited shall be entitled to terminate this
      Agreement and close your “Premier Credit e loan account”
      Account in accordance with the provisions of Clause 13 without
      prejudice to any of its rights accruing hereunder if you fail to
      repay the Loan and/or the Transaction Fees due thereon within
      sixty (60) calendar days of the disbursement of the Loan if the
      loan is not performing (being repaid on time).
    17. Premier Credit Limited shall hold any of your funds in your
      “Premier Credit e loan account” security deposit Account as
      collateral and security for any amounts outstanding and due
      from you to the Premier Credit Limited in respect of your
      “Premier Credit e loan account” Loan Account. You hereby agree
      and confirm that the Premier Credit Limited is entitled in its
      discretion to prevent or restrict you from withdrawing in whole or
      in part the funds in your “Premier Credit e loan account” security
      deposit Account for as long as and to the extent of the amount
      outstanding in respect of your “Premier Credit e loan account”
      Loan Account without the Premier Credit Limited giving any
      notice to you and/or without incurring any liability to you
      whatsoever in that connection.
    18. Premier Credit Limited reserves the right to vary the terms
      of the Loan including the fees and interest payable thereon from
      time to time having regard to the prevailing rules and regulations
      of Uganda and the policies of the Premier Credit Limited.
    19. Premier Credit Limited reserves the right to vary the terms
      of the Loan including the fees and interest payable thereon from
      time to time having regard to the prevailing rules and regulations
      of Uganda and the policies of the Premier Credit Limited.
    20. Premier Credit Limited reserves the right to vary the terms
      of the Loan including the fees and interest payable thereon from
      time to time having regard to the prevailing rules and regulations
      of Uganda and the policies of the Premier Credit Limited.
    21. Premier Credit Limited shall have a right of lien and set off
      over funds held by you in your “Premier Credit e loan account”
      security deposit Account, any other “Premier Credit e loan
      account” Account held by you and/or any other account held by
      you in the Premier Credit Limited.
    22. You hereby expressly consent and authorize the Premier Credit Limited
      to disclose, respond, advise exchange and communicate the details or
      information pertaining to your “Premier Credit e loan account” to Credit
      Reference Bureaus as appropriate under the applicable laws of Uganda.

    TERMS & CONDITIONS FOR 1305% LOAN

    1. As a prequalified customer, you may subject to these Terms and
      Conditions, apply for a loan from Premier Credit Limited by
      dialing short code *271#.
    2. Where you apply for a loan from Premier Credit Limited, your
      application shall be appraised according to the applicable loan
      appraisal processes of the Institution. The Institution reserves
      the right at its sole discretion and without assigning any reason
      to approve or decline your application for a loan based on the
      appraisal.
    3. Subject to approval of your application for a loan the institution
      shall disburse to you a loan of an amount to be determined by
      the institution in its sole discretion subject to a minimum
      amount of Uganda Shillings >(Ushs. 10,001,000/=) and a
      maximum of 50,000,000/=), With processing fees of 5%
      deductible at disbursement and interest of 5% reducing balance
      and 10,000 loan application fees
      or such other minimum or
      maximum amount as the institution may from time to time in its
      sole discretion determine (the “Loan limit”).
    4. The proceeds of the Loan shall be credited into your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM
      or mobile phone
      number provided at registration subject to any deductions on
      account of applicable Transaction Fees.
    5. You shall repay the Loan within three to thirty six months on a
      monthly installment basis.
    6. The instalments shall be repaid by mobile money to Premier
      Credit Limited by dialing (*185*5#, input number 13, enter
      amount, customer reference number, select 1 to confirm
      payment, enter PIN) AIRTEL) and for MTN (Dial *165*4*4#, Enter
      Merchant code-type PCL, Enter customer reference number,
      enter amount, PIN.
  6. FEES
    1. You hereby agree to pay all Transaction Fees payable in connection with your use of the
      Services.
    2. You shall pay to Premier Credit Limited and the Premier Credit Limited is entitled to deduct
      from your “Premier Credit e loan account” (without reference to you):

      1. any Transaction Fees payable in respect of the Services;
      2. any legal charges including advocate and client costs incurred by the Premier Credit
        Limited in
        obtaining legal advice in connection with your “Premier Credit e loan account” and your
        dealings
        with the Premier Credit Limited or incurred by the Premier Credit Limited in any legal,
        arbitration or other proceedings arising out of any dealings in respect of your “Premier
        Credit
        e loan account” Account; and
      3. all other fees, expenses and taxes, duties, impositions and expenses incurred in
        complying with
        your Requests.
    3. You hereby agree to pay costs charges and expenses incurred by the Premier Credit Limited in
      obtaining or attempting to obtain payment of any loan owed under your “Premier Credit e loan
      account” Loan Account.

  7. LOAN BALANCES AND REPAYMENT
    1. You may request for your loan balance or activity report in respect of
      your “Premier Credit e loan account” from the Premier Credit Limited
      by calling our customer care number or visiting any of our branches
      near you.
    2. Payments to Premier Credit Limited shall be made by Bank deposit
      (Account Name – Premier Credit Ltd, Account Number: Stanbic Bank
      Account: 9030009643035 and Equity bank – 1032200777496) or
      MOMO payment- Dial for Airtel *185*5# enter 13 or MTN (165*4*4#
      enter merchant code PCL).
    3. Premier Credit Limited, in partnership with telecom companies shall
      have a right of lien and set off over funds held by you in your
      PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT.
    4. No Cash should be handed to an employee of Premier Credit Limited
      and Premier Credit Limited shall not take ANY responsibility for
      money paid to any of its employees or agents. Call 305 000 For
      Any Inquiries
  8. IRREVOCABLE AUTHORITY OF THE PREMIER CREDIT LIMITED
    1. You hereby irrevocably authorize the Premier Credit Limited to act
      on all requests received by the Premier Credit Limited from you (or
      purportedly from you) through the System and to hold you liable in
      respect thereof, notwithstanding that any such requests are not
      authorized by you or are not in accordance with any existing
      mandates given by you.
    2. If you request the Premier Credit Limited to cancel any transaction
      or instruction after a request has been received by the Premier
      Credit Limited from you, Premier Credit Limited may at its absolute
      discretion cancel such transaction or instruction but shall have no
      obligation to do so.
    3. Premier Credit Limited shall be entitled to accept and to act upon
      any request, even if that request is otherwise for any reason
      incomplete or ambiguous if, in its absolute discretion, the Premier
      Credit Limited believes that it can correct the incomplete or
      ambiguous information in the request without any reference to
      you being necessary.
    4. Premier Credit Limited is authorized to effect such orders in
      respect of your “Premier Credit e loan account” as may be required
      by any court order or competent authority or agency under the
      applicable laws.
    5. In the event of any conflict between any terms of any request
      received by the Premier Credit Limited from you and these Terms
      and Conditions, these Terms and Conditions shall prevail.
  9. CUSTOMER’S EQUIPMENT AND CUSTOMER’S RESPONSIBILITIES
    1. You shall at your own expense provide and maintain in safe and
      efficient operating order your Equipment necessary for the
      purpose of accessing the System and the Services.
    2. You shall be responsible for ensuring the proper performance of
      your Equipment. Premier Credit Limited shall neither be
      responsible for any errors or failures caused by any malfunction of
      your Equipment, and nor shall the Premier Credit Limited be
      responsible for any computer virus or related problems that may
      be associated with the use of the System, the Services and the
      Equipment. You shall be responsible for charges due to any
      service provider providing you with connection to the Network and
      the Premier Credit Limited shall not be responsible for losses or
      delays caused by any such service provider.
    3. You shall follow all instructions, procedures and terms contained
      in these Terms and Conditions and any document provided by the
      Premier Credit Limited concerning the use of the System and
      Services.
    4. You agree and acknowledge that you shall be solely responsible
      for the safekeeping and proper use of your Equipment and for
      keeping your PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT PIN secret and secure. You
      shall ensure
      that your PREMIER CREDIT LIMITED USSD LENDING
      PLATFORM/ACCOUNT PIN does not become known or come into
      possession of any unauthorized person. The Premier Credit
      Limited shall not be liable for any disclosure of your PREMIER
      CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT PIN to
      any third party and you hereby agree to indemnify and hold the
      Premier Credit Limited harmless from any losses resulting from any PREMIER CREDIT LIMITED
      LENDING PLATFORM/ACCOUNT PIN disclosure.
    5. You shall take all reasonable precautions to detect any
      unauthorized use of the System and the Services. To that end, you
      shall ensure that all communications from the Premier Credit
      Limited 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 System will be detected.
    6. You shall immediately inform Premier Credit Limited through the Customer Care Centre helpline
      020030500 within a period of 24 hours in the event that;

      1. You have reason to believe that your PREMIER CREDIT LIMITED USSD LENDING
        PLATFORM/ACCOUNT PIN is or may be known to any person not authorized to know the same
        and/or has been compromised; and/or
      2. You have reason to believe that unauthorized use of the Services has or may have
        occurred or could occur and a transaction may have been fraudulently input or
        compromised.
    7. You shall at all time follow the security procedures notified to you
      by the Premier Credit Limited 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
      “Premier Credit e loan account” Account’s 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 than a person authorized to do so.
    8. You shall not at any time operate or use the Services in any manner that may be prejudicial to
      the Premier Credit Limited.You shall not at any time operate or use the Services in any
      manner that may be prejudicial to the Premier Credit Limited.
  10. EXCLUSION OF LIABILITY
    1. The Premier Credit Limited shall not be responsible for any loss suffered by you should the
      Services be interfered with or be unavailable by reason of (a) the failure of any of your
      Equipment, or (b) any other circumstances whatsoever not within the Premier Credit Limited’s
      control including, without limitation, force majeure or error, interruption, delay or non-
      availability of the System, terrorist or any enemy action equipment failure, loss of power,
      adverse weather or atmospheric conditions, and failure of any public or private
      telecommunications system.
    2. Premier Credit Limited will not be liable for any losses or damage suffered by you as a result
      of or in connection with:-

      1. Unavailability of sufficient funds in your PREMIER CREDIT LIMITED USSD LENDING
        PLATFORM/ACCOUNT and/or in your “Premier Credit e loan account” Account;
      2. failure, malfunction, interruption or unavailability of the System, your Equipment, the
        Network PREMIER CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT System and/or PREMIER
        CREDIT LIMITED USSD LENDING PLATFORM/ACCOUNT Service;
      3. the money in your “Premier Credit e loan account” being subject to legal process or
        other encumbrance restricting payments or transfers thereof;
      4. your failure to give proper or complete instructions for payments or transfers relating
        to your “Premier Credit e loan account” Account;
      5. any fraudulent or illegal use of the Services, the System and/or your Equipment; or
      6. Your failure to comply with these Terms and Conditions and any document or information
        provided by the Premier Credit Limited concerning the use of the System and the
        Services.
    3. If for any reason other than a reason mentioned in subparagraphs 10.1 or 10.2, the Services are
      interfered with or unavailable, the Premier Credit Limited’s sole liability under this Agreement
      in respect thereof shall be to re-establish the Services as soon as reasonably practicable.
    4. Save as provided in subparagraph 10.3 the Premier Credit Limited shall not be liable to you for
      any interference with or unavailability of the Services, howsoever caused.
    5. Under no circumstances shall the Premier Credit Limited be liable to you for any loss of profit
      or anticipated cost savings or for any indirect or consequential loss or damage of whatever
      kind, howsoever caused, arising out of or in connection with the Services even where the
      possibility of such loss or damage is notified to the Premier Credit Limited.
    6. All warranties and obligations implied by law are hereby excluded to the fullest extent
      permitted by law.
  11. INTELLECTUAL PROPERTY RIGHTSYou acknowledge that the intellectual property rights in
    the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated
    documentation that the Premier Credit Limited provides to you through the System or otherwise are vested
    either in the Premier Credit Limited or in other persons from whom the Premier Credit Limited has a
    right to use and to sub-license the System and/or the said documentation. You shall not infringe any
    such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the
    System and associated documentation without the prior written consent of the Premier Credit Limited.
  12. INDEMNITY
    1. In consideration of the Premier Credit Limited complying with your instructions or Requests
      in relation to the “Premier Credit e loan account” Account, you undertake to indemnify the
      Premier Credit Limited and hold it harmless against any loss, charge, damage, expense, fee
      or claim which the Premier Credit Limited suffers or incurs or sustains thereby and you
      absolve the Premier Credit Limited from all liability for loss or damage which you may
      sustain from the Premier Credit Limited acting on your instructions or requests or in
      accordance with these Terms and Conditions.
    2. The indemnity in clause 12.1 shall also cover the following;
      1. All demands, claims, actions, losses and damages of whatever nature which may be
        brought against the Premier Credit Limited or which it may suffer or incur
        arising from its acting or not acting on any Request or arising from the
        malfunction or failure or unavailability of any hardware, software, or
        equipment, the loss or destruction of any data, power failures, corruption of
        storage media, natural phenomena, Pandemic, riots, acts of vandalism, sabotage,
        terrorism, any other event beyond the Premier Credit Limited’s control,
        interruption or distortion of communication links or arising from reliance on
        any person or any incorrect, illegible, incomplete or inaccurate information or
        data contained in any request received by the Premier Credit Limited.
      2. Any loss or damage that may arise from your use, misuse, abuse or possession of
        any third party software, including without limitation, any operating system,
        browser software or any other software packages or programs.
      3. Any unauthorized access to your “Premier Credit e loan account” Account or any
        breach of security or any destruction or accessing of your data or any
        destruction or theft of or damage to any of your Equipment.
      4. Any loss or damage occasioned by the failure by you to adhere to these Terms and
        Conditions and/or by supplying of incorrect information or loss or damage
        occasioned by the failure or unavailability of third party facilities or systems
        or the inability of a third party to process a transaction or any loss which may
        be incurred by the Premier Credit Limited as a consequence of any breach by
        these Terms and Conditions.
      5. Any damages and costs payable to the Premier Credit Limited in respect of any
        claims against the Premier Credit Limited for recompense for loss where the
        particular circumstance is within your control.
  13. VARIATION AND TERMINATION OF RELATIONSHIP
    1. The Premier Credit Limited may at any time, upon notice to you, terminate or vary its business
      relationship with you and close your “Premier Credit e loan account” and in particular but
      without prejudice to the generality of the foregoing the Premier Credit Limited may cancel
      credits which it has granted and require the repayment of outstanding debts resulting therefrom
      within such time as the Premier Credit Limited may determine.
    2. Without prejudice to the Premier Credit Limited rights under clause 13.1, Premier Credit Limited
      may at its sole discretion suspend or close your “Premier Credit e loan account”;

      1. if you use the “Premier Credit e loan account” for unauthorized purposes or where the
        Premier Credit Limited detects any abuse/misuse, breach of content, fraud or attempted
        fraud relating to your use of the Services;
      2. if your PREMIER CREDIT LIMITED USSD LENDING PLATFORM/Account or agreement with telecom
        company is terminated for whatever reason;
      3. if the Premier Credit Limited is required or requested to comply with an order or
        instruction of or a recommendation from the government, court, regulator or other
        competent authority;
      4. if Premier Credit Limited reasonably suspects or believes that you are in breach of
        these Terms and Conditions (including non-payment of any Loan amount due from you where
        applicable);
      5. where such a suspension or variation is necessary as a consequence of technical problems
        or for reasons of safety;
      6. to facilitate update or upgrade the contents or functionality of the Services from time
        to time;
      7. where you remain inactive for any period of time determined by the Premier Credit
        Limited in its reasonable discretion; or
      8. If the Premier Credit Limited decides to suspend or cease the provision of the Services
        for commercial reasons or for any other reason as it may determine in its absolute
        discretion.
      9. You may close your “Premier Credit e loan account” at any time by calling Customer Care
        Help line provided.
    3. If your “Premier Credit e loan account” has any credit balance at the time of its closure, we
      will return any such balance to you, less any applicable fees. If your “Premier Credit e loan
      account” is in arrears at the time of closure of your “Premier Credit e loan account” Account,
      you agree to pay to us immediately all amounts you owe us.
    4. Termination shall however not affect any accrued rights and liabilities of either party.
    5. . If the Premier Credit Limited receives notice of your demise, the Premier Credit Limited will
      not be obliged to allow any operation or withdrawal from your “Premier Credit e loan account” by
      any person except upon production of Grants of Letters of Administration or Probate by your
      legal representatives duly appointed by the Court.
  14. CREDIT LIFE INSURANCE
    1. As a responsible lender, Premier Credit Limited has the right to
      insure the loan against death or permanent disability.
    2. In the event of the Borrower’s death or permanent disability, the
      Borrower or his/her estate will not be required to pay any
      outstanding repayments however this determination shall be at
      the sole discretion of the Insurance provider after thorough due
      diligence has been conducted.
  15. DISCLOSURE OF INFORMATION
    1. It is hereby understood and agreed that the personal data herein
      has been directly obtained from the borrower who has voluntarily
      provided this data to Premier Credit Ltd to facilitate the processing
      of the loan facility or the access of the service sought by the
      borrower
    2. You hereby expressly consent and authorize Premier Credit Limited to disclose, receive record or
      utilize your personal information or information or data relating to your “Premier Credit e loan
      account” Account and any details of your use of the Services:

      1. to and from any local or international law enforcement or competent regulatory or
        governmental agencies so as to assist in the prevention, detection, investigation or
        prosecution of criminal activities or fraud;
      2. to a Credit Reference Bureau;
      3. to Premier Credit Limited’s lawyers, auditors or other professional advisors or to any
        court or arbitration tribunal in connection with any legal or audit proceedings;
      4. in business practices including but not limited to quality control, training and
        ensuring effective systems operation.
      5. given consent to Premier Credit Ltd to
        continue holding and processing their personal data
        after the maximum period of Ten (10) years even
        after all obligations under the loan facility or service
        sought have been settled;
      6. Under this Agreement, the Customer waives any right or claim that it may make to the
        PREMIER CREDIT E ACCOUNT platform and its partners regarding the disclosure of the above
        information by them or their intentions.
  16. MISCELLANEOUS
    1. These Terms and Conditions (as may be amended from time to time) form a legally binding
      agreement binding on you and your personal successors.
    2. This Agreement and any rights or liabilities accruing thereunder may not be assigned by you to
      any other person.
    3. Premier Credit Limited may vary or amend at any time and without notice to you these Terms and
      Conditions and the Transaction Fees. Any such variations or amendments may be published on the
      Premier Credit Limited website and/or by any other means as determined by the Premier Credit
      Limited and any such variations and amendments shall take effect immediately upon publication.
    4. No failure or delay by either yourself or the Premier Credit Limited in exercising any right or
      remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of
      any right or remedy prevent any further or other exercise thereof or the exercise of any other
      right or remedy.
    5. The rights and remedies herein provided are cumulative and not exclusive of any rights or
      remedies provided by law.
    6. If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator,
      court or administrative body of competent jurisdiction to be invalid or unenforceable the
      invalidity or unenforceability of such provision shall not affect the other provisions herein.
    7. Any addition or alteration to these Terms and Conditions may be made from time to time by the
      Premier Credit Limited and of which notice has been given to you by way of publication as
      provided in subparagraph 15.3 shall be binding upon you as fully as if the same were contained
      in these Terms and Conditions.
  17. NOTICES
    1. The Premier Credit Limited may send information concerning the “Premier Credit e loan account”
      via SMS to the Mobile Phone number associated with your PREMIER CREDIT LIMITED USSD LENDING
      PLATFORM/ACCOUNT.
    2. You acknowledge that you have no claim against the Premier Credit Limited for damages resulting
      from losses, delays, misunderstandings, mutilations, duplications or any other irregularities
      due to transmission of any communication pertaining to the “Premier Credit e loan account”
      Account.
  18. DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION
    1. You may contact Customer Care Center to report any disputes,
      claims or “Premier Credit eloan account” Account discrepancies
      by sending an email to;info@premiercredit.co.ug
      or call our
      customer center number +256 200 305 000.
    2. Any dispute arising out of or in connection with this Agreement
      that is not resolved by Uganda Customer Care Centre
      representatives shall be referred to arbitration by a single arbitrator to be appointed by
      agreement between the parties or in
      default of such agreement within 60 days of the notification of a
      dispute, upon the application of either party, by the Chairman of
      the Centre for Arbitration and Dispute Resolution who shall be the
      final appointing authority.
    3. Such arbitration shall be conducted in the English language in
      Kampala in the Republic of Uganda under the provisions of the
      Arbitration and Conciliation Act, Cap 4 as amended from time to
      time.
    4. To the extent permissible by Law, the determination of the
      Arbitrator shall be final, conclusive and binding upon the parties
      hereto.
    5. This Agreement shall be governed by and construed in accordance with the laws of the
      Republic of Uganda.
  19. INCOHERENCE OF TERMS

    In the event of any inconsistency between these Terms and Conditions and any
    particular terms of the Customer’s USSD menus, the terms and conditions of
    the Customer’s particular terms prevail.

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  • Tel: 0200-305000
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