1. This agreement sets out the complete terms and conditions (hereinafter called “Terms and Conditions”) which shall be applicable to the PCL (hereinafter referred to as PCL) mobile lending platform.
    2. These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.
    1. In these Terms and Conditions, the following words and expressions bear the following meanings:
      1. PCL means Platinum Credit Limited;
      2. Credit Reference Bureau means a credit reference bureau duly licensed to collect and facilitate the sharing of borrower’s information;
      3. Borrower means the person at whose request PCL will advance a loan facility;
      4. Call Centre means PCL’s call center;
      5. Equipment includes your mobile phone handset and/ or other equipment that when used together enables you to access the online lending platform;
      6. LBF means Log Book Finance;
        • LBF QuickCash is an overdraft loan product that allows you to borrow an additional loan amount equivalent to your installment amount to the maximum of Tsh.1,000,000 to clear your installment due.
        • LBF installments are the replacement of an existing debt obligation with another debt obligation under different terms which will mostly relate to loan amount and term. For example, if you have an existing loan and have repaid a minimum of 1/4 of the term you can apply for another loan with the same security where the existing debt will be paid off and a new loan created. The difference will be disbursed to you.
      7. Products means the various loan facilities offered by PCL;
      8. Request means a request and/or instruction received by PCL from you or purportedly from you through the system and upon which request PCL is authorized to act;
      9. Services shall include any form of financial services or products that PCL may offer you pursuant to this Agreement and as you may from time to time subscribe to and “service” shall be construed accordingly;
      10. Security agreement constitutes the legal, valid, binding, and enforceable obligations of the borrower and will continue to be effective security overall and every part of the secured asset;
      11. Secured asset is the asset over which the loan facility is secured;
      12. SMS means a short message service consisting of a text message transmitted from one mobile to another;
      13. System means PCL’s electronic lending platform and communications software enabling the borrower to communicate with PCL for the purposes of these services;
      14. Transaction fees include the facility fee, rollover fee, loan administration fee and any other charges payable for the use of the services as published by PCL on PCL’s website or by such other means as PCL shall in its sole discretion determine
      15. Transaction fees are subject to change at any time at PCL’s sole discretion.
      16. We, our and us means PCL and includes the successors and assigns of the PCL;
      17. You and your means the borrower and includes the personal representatives of the Borrower;
      18. USSD T&C’s means these USSD Terms and Conditions.
      19. The word borrower shall include both the masculine and the feminine gender as well as the juristic persons;
      20. Words importing the singular meaning where the context so admits include the plural meaning and vice versa.
      21. Headings in these Terms and Conditions are for convenience purposes only and they do not affect the interpretation of this Agreement.
    1. Before applying to PCL’s products on our system, you should first carefully read and understand these Terms and Conditions which will govern the use and operation of our system and the products and services accessible thereof;
    2. Thereafter, you will be required to register on our system.
    3. By proceeding with registration, you are agreeing that you have accepted our Terms and Conditions on our official website.
      • Furthermore, you will be deemed to have read, understood, and accepted these Terms and Conditions by following through with all the prompts and completing a request transaction;
    4. By accessing our system and completing a request, you agree to comply with and be bound by these Terms and Conditions and you affirm that these Terms and Conditions herein are without prejudice to any right that PCL may have concerning the services or products offered in Law or otherwise.
    5. The Borrower acknowledges that he or she fully understands the provisions of this Agreement and has entered into it voluntarily for his or her benefit.
    6. By accepting these Terms and Conditions, you authorize PCL to assess your credit score including but not limited to accessing your credit history from a registered Credit Reference Bureau.
    7. These Terms and Conditions may be amended or varied by PCL from time to time and the completion of requests and continued use of this service constitutes your agreement to be bound by the terms of any such amendment or variation.