Terms and Conditions

Sterling Tech & Data Sciences Limited ("we" or "our" or "us") is the owner and operator of FairCredit (the “App”), both the web and app versions, hereby provide you with the following terms and conditions: The use of our electronic application and access to the services provided by us will be regulated. Therefore, anyone who uses the website or purchases our service (hereinafter referred to as "User") must comply by the conditions stated in this agreement.

1. Registering Your Account

a. The first step required by User is to first download the FairCredit app to their mobile phone or device. To enable users to have access to the services provided by FairCredit, User must create and maintain an account in the application where you record your details. For this account, the User shall be fully responsible for its security and confidentiality as well as the password to access the account.

b. User shall be totally responsible for the use of this account. Users shall provide the information required for registration. Users must fill in the mobile phone number, password and verification code according to the instructions in order to use the FairCredit application correctly. After successful registration, users will receive his/her account details. The user can then proceed to request the business name service. Registration is made available for free and Users are obliged to update the information provided at the time of registration in case of changes. Secure and stable Internet connection is needed in doing registration.

c. The user is guaranteed and assured that all information provided to us are correct and valid. We can confirm and / or verify such information through credit service verification, bank information verification, background investigation, company information verification and other necessary information sources for legitimate access. If we find that the user has provided false and invalid information, or attempts to deceive FairCredit through fraud or scheme, we have the right to terminate or cancel the transaction with the user without any prior notice and report such act to the law enforcement agency.

d. User also need to make its location accessible so that we can confirm and verify that the user is really in Nigeria. Users must fill in these fields as needed. The information provided must be valid and true as it will be confirmed and validated by FairCredit.

e. Through this account, users can personally upload their methods of payment, information on their, access their services, and identify themselves in FairCredit. Any information provided by users must be true and reliable upon confirmation, and can be verified and tested at any time. If the user authenticates through the social network or similar media provided on the website, the user authorizes FairCredit to use the public data displayed on his account as appropriate.

f. The account can only be used for personal and non-transferable purposes. Anyone who has created an account must be mature and have legitimate ability to maintain the account. FairCredit can exercise its right to confirm, suspend, terminate the account, delete or edit the content for any reasonable reason, including duplication, ambiguous false or incomplete information of users, violation of these terms and conditions, violation of third-party rights or crime or any act that damages our status or customer experience.

g. We will process, gather, use and retain such data subject to the limitations of relevant laws and the implementation rules and regulations related to Nigeria's data privacy law, as well as the privacy notices provided to users.

2. Service

a. FairCredit service you provide through the website can be provided to users on the website through the account you use. These services shall be freely selected by the user and shall comply with the following terms and conditions applicable to each service, which shall be signed by the user at the time of request of service:

Loans Online amount from ₦6,000 to ₦60,000

Loan term range from 91 to 365 days

Daily interest is 0.05% - 0.09%

Maximum annual interest rate APR: 32.85%

Users apply for personal loans through FairCredit and provide basic information for us to confirm, and cross reference the information to approve loans.

FairCredit is a local service suitable and designed to address the needs of Nigerians. The Lender’s services are not accessible from outside Nigeria and an attempt to use the app shall be denied.

The user expressly agrees that if the user violates its terms and conditions before or during the period of any service or product it intends to enter into a contract with us, we shall have the right to reject it if the loan is in progress.

b. If the loan has been approved and disbursed, the loan shall be cancelled and the user shall be immediately responsible for the total amount of the loan together with interest and / or damages, as the case may be;

c. If, after the cancellation of the loan, the user fails or objected to settle the due amount according to the regulations, it will be viewed as an overdue account and will be transferred to the relevant department for collection/recovery;

d. If the collection attempt fails, due to the inability to contact the user and his reference contacts, we will, inter Alia, attempt to contact the telephone contacts supplied/collected from the user in accordance with the restrictions prescribed by the relevant laws. Except for the User name and contact information of us, the loan information shall not be disclosed to the third party contact.

e. User completely know that your loan application can be disallowed by us without revealing the reasons for rejection. Users have no right to request review, reassessment or other forms of application to reassess the rejected loan.

3. Notice

a. The notice mentioned in these terms and conditions shall be sent to the user from FairCredit via email or its account, any of which is the best way to send the notice required by us to the user, the user must check the app and email from time to time to be aware of the information sent to him/her as the deadline is calculated from the date of the notification. We shall not be responsible for the data not accurately provided by users, or the personal data and its management means (such as e-mail or account) Likewise, we shall not be accountable for the omission of queries by users.

b. These services have age limitation and can only be used by people over the age of 18. We reserve the right to verify the genuineness and status of your identity.

c. Acceptance of L/C application will be shown on the application form. You acknowledge and agree that accepting your L/C application will not create any contractual relationship between you and us, beyond the terms and conditions of your application for opening an account in our application. We reserve the right to reject your L/C application.

d. Therefore, you expressly allow us to investigate your creditworthiness in the company through authorized officials when you think it is appropriate. Likewise, you agree that you understand the scope and nature of the information obtained by us and, with your express approval, check your credit records within 3 years from the date of issue and during the period when we have a legal relationship with you.

4. Obligation of User

a. User suggests that he/she maintain regular paid work and financially able to repay the required loan within the tenor of the loan.

b. User shall agree and will implement these provisions in good faith and full responsibility, and has no intention to violate the rules in these provisions and applicable laws and regulations, including but not limited to money laundering, tax evasion and anti-terrorism regulations) shall not:

Provide incorrect, deceitful and invalid information to obtain FairCredit loan;

Provide misleading and ambiguous information to FairCredit;

Conspire, scheme or otherwise plan to guarantee or make loans with the directors, partners and employees of us;

Attempt to commit or commit fraud during or before the validity of these terms and conditions.

c. User freely and voluntarily agree to this clause in their own name, free from any compulsion or pressure; and hereby states that he/she fully understand the content and consequences of this clause.

Breach of the above obligation shall result in the termination of these terms and conditions, and the user shall be immediately liable for interest and / or damages on the total loan amount, as the case may be.

5. Personal Data Privacy

Once you register with this app, FairCredit will not sell, rent or share your personal information unless you do so in the manner specified in our privacy statement. We will ensure to protect your privacy and your information with us.

Except in accordance with court order or laws and regulations, we may be obliged to disclose information to authorities or third parties under certain conditions, if a third party can intercept or access certain information or data transmission, in this case, we will not be responsible for the disclosed information.

If you have need further clarification about the protection and maintenance of users' personal information, please feel free to check our privacy policy.

6. Personal Data Security

FairCredit is obliged to conform with all applicable rules applicable to personal data security measures. In addition, we will use industry standards to protect the confidentiality of your personal data, including the use of secure sockets layer ("SSL") in other measures.

We regard the user's data as an asset and we are committed to protecting it from any loss or unauthorized access. We use a variety of security technologies to protect these data from unauthorized access by users inside and outside the company. However, it must be borne in mind that there is no 100% security assurance on the Internet but we will do everything practicably possible to protect your data. The personal data of all users will be stored in the automatic personal data file.

7. Charging process

The user authorizes and agrees that FairCredit shall carry out the following activities as a part of charge management:

a. Authorize FairCredit to contact the emergency contacts provided and can try to collect at that emergency contact.

b. If the provided emergency contacts cannot be contacted, or it is wrong or invalid information, the user authorizes and agrees FairCredit to use the supplied/collected telephone contacts of additional guarantors to find the user. We shall not unveil or disclose any information about its relationship with users. However, we will let the third-party contacts know that the user cannot be contacted, and will need new user contact information.

c. In case of late repayment, we have the right to seek legal remedy by giving notice on the user's account, seeking the assistance of the receiving company, or bringing appropriate civil and criminal proceedings against the wrong user.

d. FairCredit have the right to transfer all or part of the claim to a third party, including but not limited to the use of the collection/recovery company. The user agrees and allows FairCredit to disclose necessary information so that the collection/recovery company can fully realize its purpose under the restriction of personal data protection rules.

e. The collection/recovery attempts can be stopped only after the minimum amount due is settled in full or the user agrees to settle on a specific date. If the payment agreement is not settled, we will continue to make collection attempts in accordance with these terms and conditions.

8. System or database violations

User shall not by any device, software or other means intended to interfere with our activities and operations and our descriptions, configuration files or databases are allowed to operate or use on the App. Any intervention, attempt or activity that violates the intellectual property law and / or the prohibitions stipulated in this contract shall compel FairCredit to take immediate appropriate legal actions according to these terms and conditions, And the damages caused shall be restituted.

9. Liability exemption

FairCredit shall not be liable for any damage, injury or loss caused to users due to system, server or Internet failure. We shall also not be held accountable for any virus that infects the user's computer by accessing, using or checking your app or any data, file, image, text or audio transmission contained therein. Users shall not bear any responsibility or claim compensation for loss of profits due to technical difficulties or system or Internet failures. We do not give assurance that your website will continue to be accessible or used without interruption. The system may eventually become unavailable due to technical difficulties or Internet failure, or any other circumstances other than FairCredit; In such cases, users shall make restitution as quickly as possible without any responsibility for that. We are not accountable for any errors or omissions on your app or of the internet.

10. Intellectual property

The screen content related to the FairCredit service and the programs, databases, networks and files that allow users to access and use their personal data belong to us and are protected by international copyright, trademark, patent law and treaties, Industrial modeling and design Unless expressly authorized in writing by us, abuse and reproduction in whole or in part of these contents are prohibited.

The site may contain links to other sites, but this does not mean that these sites are owned or operated by us. As we have no control over such websites, we shall not be liable for any content, materials, actions and / or services provided by it, as well as any damage or loss directly or indirectly caused by the use of these websites. The existence of links to other sites does not mean collaboration, relationships, approvals and FairCredit support for these sites and their content.

11. Tax Revenue

User agrees to a responsible calculation and payment of his/her tax liability and any other formalities that may result in the use of the personal loan service, or / and, where applicable, hereby authorizes us to withhold the corresponding tax in accordance with related tax laws.

12. Laws and Jurisdiction

These terms and conditions shall be governed in all respects by the laws in force in the Federal Republic of Nigeria, in particular with regard to data messages, electronic contracting and electronic commerce, and shall comply with the respective laws. The existence, validity, interpretation, scope or performance of any dispute arising therefrom shall be governed by applicable laws and competent courts.

The parties shall be subjective to the jurisdiction of the competent courts in Nigeria for the interpretation, performance and enforcement of this contract and hereby renounce any jurisdiction arising from their present or future residences.

13. Legal requirements

a. FairCredit works with competent authorities and other third parties to ensure compliance with the law, such as in the protection of industrial and intellectual property rights, fraud prevention and other matters.

b. In case of the demand of governmental authorities or court with competent jurisdiction, we will be obliged to reveal the personal data even without administrative or judicial orders or subpoenas, Or, for example (but not limited to this case), involving criminal or fraud investigations or investigations related to computer piracy or copyright infringement. In such cases, we will work with competent authorities to uphold the integrity and safety of the community and other users.

c. We may (and is expressly authorized by the user) disclose any personal information of its users in order to conform with applicable laws and to cooperate with competent authorities in any illegal or fraud investigation to the extent we consider needed and appropriate in our discretion, Infringement of industrial or intellectual property rights, or other illegal activities, or may cause us or its users to bear any legal liability. In addition, we can (and are explicitly authorized by the user) communicate your full name, name, address, city, region, postcode, country, telephone number, e-mail address, etc. in such manner as we consider necessary or appropriate in connection with the fraud investigation, Infringement of industrial or intellectual property rights, piracy or any other illegal activity. This right will be exercised by us to facilitate law enforcement and enforcement, regardless of whether there is a judicial or administrative order.

d. In addition, we reserve the right to disclose user information to other users, entities or third parties, provided that there are sufficient reasons to believe that the user's activities are suspected of attempting or committing a crime or attempting to harm others. We will use this right at our sole discretion as we deem appropriate or necessary to maintain the integrity and safety of the community and its users, implement the general terms and conditions of the website and other policies, and cooperate with law enforcement. This right will be exercised by us regardless of whether there is a judicial or administrative order.