IF YOU DO NOT AGREE TO ALL OF THESE TERMS, YOU MAY NOT USE OR ACCESS THE SERVICES IN ANY MANNER
These Terms and Conditions apply to and regulate the provision of financial services provided by
FUNDALL COMPANY LIMITED, a financial technology institution to the Customer herein. These Terms
and Conditions constitute Fundall Company limited's offer and sets out the terms governing this
How to use Fundall account
This is an account where you access premium financial services on the Fundall Platform.
be asked to provide information (such as your date of birth and your Bank Verification Number)
when you apply for a loan, as well as your current residential address, and/or any other KYC
requirement as may be prescribed by the Central Bank of Nigeria from time to time, for the
opening of a Fundall account. These information shall be used for verification purposes. In
order to ensure that we are able to provide communications to you electronically, you must
notify us of any change in your email address and your mobile device number or other text
message address by updating your profile on the Fundall app or website.
Definitions In this agreement, the terms: “You”, “your”, “Customer”, “Borrower” shall mean the
person who applied for this Account and agrees to this Agreement while “We”, “us” and “our” and
“Lender” shall mean Fundall, and following an assignment, any person, company or bank to whom
the rights and/or obligations of Fundall have been assigned.
“Account” means the Customer’s
account with Fundall
“Disbursement Date” means the date Fundall actually advanced the loan
the Customer’s Wallet
“Payment Due Date” means the date the loan is to be paid in full.
Limit” means the maximum credit available to the Borrower on opening an account with Fundall
“Loan” means the amount advanced to the Borrower by Fundall, which shall be no less than
N1,000.00 (One Thousand Naira only)
2. Condition for use
(a) accept and agree to these Terms and Conditions;
(b) register with us on the
(c) be a Nigerian citizen (or a legal Nigerian resident) of at least 18 years of
(d) have a bank account with a Nigerian financial institution; and
(e) provide all
as may be requested by us, such as your name, email address, mobile device number, online
credentials for your bank account, and such other information as we may request from time to
time (collectively, “Customer Information”).
You represent and warrant that all Customer
Information you provide us from time to time is truthful, accurate, current, and complete, and
you agree not to misrepresent your identity or your Customer Information.
You agree to
notify us of changes to your Customer Information by updating your profile on the Fundall
platform and to notify us at least five business days before any changes to your bank account
information, including, but not limited to, the closure of your bank account for any reason.
we approve your registration, you will be authorized to use the platform, subject to these terms
For our compliance purposes and in order to provide the platform services to you, you hereby
authorize us to, directly or through a third-party, obtain, verify, and record information and
documentation that helps us verify your identity and bank account information.
for the platform and from time to time thereafter, we may require you to provide and/or confirm
information and documentation that will allow us to identify you, such as:
A copy of your
government-issued photo ID, such as a national ID, international passport, permanent voter’s
card or driver’s license;
A copy of a utility bill, bank statement, affidavit, or other
dated within three months of our request, with your name and Nigerian street address on it; and
Such other information and documentation that we may require from time to time.
platform and providing Customer Information to us, you automatically authorize us to obtain,
directly or indirectly through our third-party service providers and without any time limit or
the requirement to pay any fees, information about you and your bank account from the financial
institution holding your bank account and other third-party websites and databases as necessary
to provide the Wallet to you. For purposes of such authorization, you hereby grant Fundall and
our third-party service providers a limited power of attorney, and you hereby appoint Fundall
and our third-party service providers as your true and lawful attorney-in-fact and agent, with
full power of substitution and re-substitution, for you and in your name, place, and stead, in
any and all capacities, to access third-party websites, servers, and documents; retrieve
information; and use your Customer Information, all as described above, with the full power and
authority to do and perform each and every act and thing requisite and necessary to be done in
connection with such activities, as fully to all intents and purposes as you might or could do
YOU ACKNOWLEDGE AND AGREE THAT WHEN Fundall OR OUR THIRD-PARTY SERVICE PROVIDERS
ACCESS AND RETRIEVE INFORMATION FROM SUCH THIRD-PARTY WEBSITES, Fundall AND OUR THIRD-PARTY
SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OF, OR ON BEHALF OF THE THIRD
You agree that other third parties shall be entitled to rely on the foregoing
authorization, agency, and power of attorney granted by you.
We make no effort to review
information obtained from the financial institution holding your bank account and other
third-party websites and databases for any purpose, including, but not limited to, accuracy,
legality, or non-infringement. As between Fundall and our third-party service providers, Fundall
owns your confidential Customer Information.
3. Customer consent
Customer consent By ticking the “I agree to the Terms and Conditions”, on the application form,
which you hereby adopt as your electronic signature, you consent and agree that:
materials and other information about your legal rights and duties to you electronically.
authorized to share, receive and use data/information collected from your transaction with other
affiliated third parties including but not limited to switching companies, mobile network
operators, electricity companies, aggregators, credit bureaus, other financial institutions,
e-commerce platforms etc.
You hereby expressly consent and authorize Fundall to debit your
Wallet and/or authorize us or any of our duly authorized agent or partner to debit your
designated salary account, or any other bank account linked to your Bank Verification Number
(BVN), for the purpose of saving on our platform , repaying the Loan with applicable interest as
and when due.
To access payroll related offers, you have expressly consented and authorized
to verify your salary details with your employer and/or your employer’s appointed salary
processors without further recourse to you.
Your electronic signature on agreements and
documents has the same effect as if you signed them using ink on paper or any other physical
We can send all important communications, billing statements and demand notes and
reminders (collectively referred to as “Disclosures”) to you electronically via our website or
to an email address that you provide to us while using our sevices.
We will alert you when
Disclosures are available, by sending you an electronic communication.
Our email will tell
how you can view the Disclosures.
We will make the Disclosures available to you from the
first becomes available , or the date we send you the email to alert you that it was available.
You will be able to print a copy of the Disclosure or download the information for your
This consent applies to this transaction, to all future Disclosures on this Account, to all
future transactions in which you use the Fundall Payment option with us, at any time, and to
other Disclosures that we provide to you by email, unless you have, prior to such transaction,
withdrawn your consent by the procedure mentioned below.
By consenting, you agree that
electronic Disclosures have the same meaning and effect as if we provided paper Disclosures to
you as we are required to do so. When we send you an email alerting you that the Disclosures are
available electronically and make it available online, that shall have the same meaning and
effect as if we provided paper Disclosures to you, whether or not you choose to view the
Disclosures, unless you had previously withdrawn your consent to receive Disclosures
4. Transaction fee
The Transaction Fee for the use of the Fundall Account shall be up to one percent (1%) daily,
fixed for the term of this loan.
The transaction fee does not preclude the Lender from
default fees, penalty fee and in the event of any dispute arising from these Terms and
Conditions – the cost of Litigation/Solicitors’ fees.
The Transaction fee may be increased
decreased from time to time by the Lender.
Total transaction fee of the term of the loan
remain applicable in the event of the Borrower liquidating the loan before expiration.
5. Borrower's obligations:
To pay to us, the loan sum, including any convenience, default or penalty fees, flat interest
rate, and other amounts due to the Lender charged to this Account. Borrower promises to pay
these amounts as agreed in this Agreement on or before the Payment Due Date.
the right to presume that the Borrower has authorized any loan application made in the name of
the Borrower using this Account. The Borrower will be deemed responsible for any unauthorized
application using this Account.
To repay the loan given to you and/or to someone you
to use this Account via direct cash transfer to a bank account listed by the Lender, an
electronic debit from the card/account you provided on the due date, or through an acceptable
electronic channel. The Lender reserves the right to accept early repayment before the Payment
Due Date, provided the Borrower has given adequate notice and repays full loan along with the
flat interest rate. Loan repayment via electronic debit card may be effected by the Lender in
the way and manner hereinafter specified –
The Lender shall charge a one-time processing fee
first time a Customer sets up a new debit card on the Account. In the event the card is expired
or about to expire, you will have to obtain a renewed card from your bank or provide us with
another personal debit card.
The Lender shall deduct from the card setup on the repayment
date. We will never make any transactions on the card outside of the scheduled loan repayments.
In the event of a double repayment initiated in error by you, we will on a best effort basis
process a refund within a reasonable time.
You hereby indemnify us against any and all
liabilities or damages that may arise in the event that you use a third party’s card on your
Account without the consent of such third party.
In the event of a default or insufficiency
funds in your bank account, you hereby authorize us to charge any other cards you may have on
your Account or profile other than the primary card listed.
You understand and agree that we
not store card details on our platform thus card details shall be processed through a secure
payment gateway that is PCI DSS compliant.
To give The Lender authentic and up-to-date
social media, phone and financial records about you that we may reasonably request and analyze,
from time to time.
To pay all costs of collection if we take any action to collect this
or take any action in a bankruptcy proceeding filed by or against you. This shall include,
unless prohibited by applicable law, reasonable attorneys’ fees and expenses incurred while
Not to give us false information or signatures, electronic or otherwise,
To pay a Late Fee or penalty fee as may be provided in this terms and conditions.
make all payments via direct debit on cards or by electronic funds transfer as stated in the
To promptly notify us if you change your name, mailing address, e-mail
or telephone number.
To honor any other promises that you make in this Agreement.
not accept this Account unless you are of legal age and have the capacity to enter into a valid
Not to use Fundall for any act of illegality or criminality and Fundall shall not
legally or criminally culpable for any illegality committed by you.
To fill out the
form (as provided) with accurate information and details as required
6. Lender's obligations:
To make available the loan/credit facility to the Borrower of a figure not less than N1,000.00
(One Thousand Naira only)
To perform its obligation under 6.1 above upon confirmation by the
Lender of the Borrower’s identity and personal information
To demand repayment for the
as and when due
To conduct investigations on the Borrower prior to opening an account for
To use all reasonable and legitimate means to collect the amount extended to the
Borrower, the default fee, the transaction fees and any other penalty fee imposed on the
Borrower as a result of the loan.
Not to store or save Borrower’s debit or credit card
given by the Borrower in the application form
7. Credit reference
The Lender or its duly authorized representatives/agents will utilize dedicated Credit Agencies
for a credit report on the Borrower in considering any application for credit.
authorizes the Lender to access any information available to the Lender as provided by the
The Borrower also agrees that the Borrower’s details (excluding the card
and the loan application decision may be registered with the Credit Agency
The Borrower agrees that The Lender may communicate with them by sending notices, messages,
alerts and statements in relation to this Agreement in the following manner:
To the most
physical address the Lender holds for the Borrower in its records
By delivery to any email
address provided by the Borrower during the application process.
By delivery of an SMS to
mobile telephone number the Borrower has provided to the Lender.
By posting such notice on
9. Event of default
Default in terms of this Agreement will occur if:
The Borrower fails to make any scheduled
repayment in full on or before the payment due date in accordance with the repayment plan given
to the Borrower by the Lender;
Any representation/information, warranty or assurance made or
given by the Borrower in connection with the application for this loan or any information or
documentation supplied by the Borrower is later discovered to be materially incorrect; or
Borrower does anything which may prejudice the Lender’s rights in terms of this Agreement or
causes the Lender to suffer any loss or damage.
In the event of any default by the Borrower
subject to clause 9.1 above –
The Lender may, without notice to or demand on the Borrower
notice or demand the Borrower expressly waives), set-off, appropriate or apply any balance
outstanding on the Borrower’s investment account held by the Lender, or any indebtedness at any
time owed by the Lender to or for the account of the Borrower, against the Borrower’s
obligations to the Lender, whether or not those obligations have matured.
the right to assign its right, title and interest under the Agreement to an external Collections
Agency who will take all reasonable steps to collect the outstanding loan amount.
also reserves the right to institute legal proceedings against the defaulting Borrower and is
under no obligation to inform the Borrower before such proceedings commence.
be responsible for all legal costs and expenses incurred by the Lender in attempting to obtain
repayment of any outstanding loan balance owed by the Borrower. Interest on any amount which
becomes due and payable shall be charged.
10. Disclaimer and Limit of Liability
Fundall cannot be held responsible for any financial insights or recommendations provided to
You understand and acknowledge that the investment results you could obtain from investment
information and financial insights provided by Fundall cannot be guaranteed and that Fundall
cannot be held responsible. All investments entail a risk of loss and that you may lose money.
Investment management services may be offered to individuals who become clients, at the sole
discretion of Fundall. Your election to engage our savings and investment services are subject
your use of Fundall is for educational purposes only and is not intended to provide legal, tax
or financial planning advice. You agree as a User that you are responsible for your own
investment research and investment decisions, that Fundall is only one of many tools you may use
as part of a comprehensive investment education process, that you should not and will not rely
on Fundall as the primary basis of your investment decisions and, except as otherwise provided
for herein, Fundall will not be liable for decisions/actions you take or authorize third parties
to take on your behalf based on information you receive as a User of Fundall or information you
otherwise see on our website.
10.2 Disclaimer Warranties
Your use of Fundall's website, and the personal information you provide is at your sole
discretion. Fundall's website and all materials, information, products and services included
therein, are provided on an AS IS and AS AVAILABLE basis without warranties of any kind from
FUNDALL EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
RELATING TO FUNDALL'S WEBSITE, CONTENT AND/OR USER INFORMATION, INCLUDING WITHOUT LIMITATION THE
WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF
PROPRIETARY RIGHTS, COURSE OF DEALING OR COURSE OF PERFORMANCE. FUNDALL DISCLAIMS ANY
WARRANTIES, EXPRESS OR IMPLIED:
REGARDING THE AVAILABILITY, SECURITY, ACCURACY, RELIABILITY,
TIMELINESS AND PERFORMANCE OF FUNDALL'S WEBSITE, CONTENT AND/OR USER INFORMATION;
WEBSITE WILL BE ERROR-FREE OR THAT ANY ERRORS WILL BE CORRECTED;
THAT FUNDALL'S WEBSITE WILL
FREE FROM ELECTRONIC VIRUSES; OR
REGARDING THE PERFORMANCE OF OR ACCURACY, QUALITY,
COMPLETENESS OR USEFULNESS OF ANY INFORMATION PROVIDED BY FUNDALL ON ITS WEBSITE INCLUDING BUT
NOT LIMITED TO INFORMATION OBTAINED THROUGH SOCIAL MEDIA.
No advice or information, whether oral
or written, obtained by you from FUNDALL's website, shall create any warranty not expressly
stated in this Agreement. If you choose to rely on such information, you do so solely at your
10.3 Limitation of Liability
IN NO EVENT SHALL FUNDALL OR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO
YOU FOR ANY DAMAGES WHATSOEVER, INCLUDING WITHOUT LIMITATION INDIRECT, INCIDENTAL, SPECIAL,
PUNITIVE, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF FUNDALL,
CONTENT AND/OR USER INFORMATION, INCLUDING BUT NOT LIMITED TO THE QUALITY, ACCURACY, OR UTILITY
OF THE INFORMATION PROVIDED AS PART OF OR THROUGH FUNDALL OR FOR ANY INVESTMENT DECISIONS MADE
ON THE BASIS OF SUCH INFORMATION, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT FUNDALL
HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING LIMITATION OF LIABILITY SHALL
APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT
SHALL Fundall'S CUMULATIVE LIABILITY TO YOU EXCEED NGN10,000
11. Termination of the account
In addition to Termination by default, we may terminate this Agreement at any time and for any
reason subject to the requirements of applicable law.
We may terminate your Account by
written notice to the address on your application.
If there is no debit or credit on your
Account for twelve (12) consecutive months, we may terminate this Account without notice to
When Termination arises as a result of default, you shall not be able to apply for
This Agreement represents the entire understanding between the Lender and the Borrower.
amendment to this Agreement shall be made by the Lender from time to time and communicated to
the Borrower in writing.
The Borrower agrees and undertakes that for the period of this
Agreement, the Borrower will not close the Borrower’s specified bank account.
shall be governed and construed under the laws of the Federal Republic of Nigeria and, in the
event of a dispute, shall be subject to the jurisdiction of the courts of the Federal Republic
Notwithstanding any other provision in this Agreement, neither the Lender, its
affiliates, officers, directors, employees, attorneys or agents shall have any liability with
respect to, any claim for any special, indirect, incidental, consequential damages suffered or
incurred by you in connection with, arising out of, or in any way related to, a breach of this
If The Lender does not strictly enforce its rights under this Agreement
its right to insist on the repayment of all sums due on the Repayment Due Date) or grant the
Borrower an indulgence, the Lender shall not be deemed to have waived or lost those rights and
will not be prevented from insisting upon its strict rights at a later date.
the right to transfer or assign its rights and obligations under this Agreement (including its
obligation to lend money to the Borrower or the amount owed under this Agreement) to another
person. The Lender will only notify the Borrower if such a transfer causes the arrangements for
the administration of this Agreement to change.
The Borrower authorizes and consents to all
lawful access, use or disclosure of the Borrower’s particulars, data and information in the
application by the Lender which may include but shall not be limited to purposes necessary to
promote or sustain the business of the Lender; and the Borrower waives any claims the Borrower
may have against the Lender arising from any such access, use or disclosure.
Questions: If you any questions
Fundall at email@example.com