These terms and conditions apply to and regulate the provision of credit facilities advance by FortressCredit Investment Nigeria Limited. These standard Terms and Conditions together with our Offer letter set out the terms governing this Loan Agreement. It is important that you read the Offer letter and these Terms and Conditions carefully and keep them for future reference.

Following your decision to obtain Credit Facility from Fortresscredit Investment Limited, here are the conditions in the agreement between Fortresscredit Investment Limited (FORTCREDIT) and the Borrower (Party seeking a Credit Facility).


A. INTEREST
1. The Annualized Percentage Rate of Interest for the direct Loan Accounts is in line with the market.
2. Any change in interest rate will take effect on the Borrower's account following a minimum of 7 days written notice.

B. PAYMENTS
1. All payments by the borrower will be made by one of the following methods; direct deposit to FORTCREDIT, personal cheques and standard order or through an acceptable electronic channel. All other methods will be accepted with FORTCREDIT's consent only.
2. FORTCREDIT agrees to advance the Credit Facility and the Borrower agrees to take the Credit Facility subject to the Terms and Conditions as set out in the Application Form and also herein in this Terms and Conditions Document.
3. The Borrower will be given a dedicated and customized repayment plan upon approval of the loan application.
4. The Borrower hereby agrees that non-payment of the amount owed by the Payment Due Date shall render the Borrower in default and entitles FORTCREDIT to take steps to recover the outstanding loan amount in accordance.

C. INFORMATION
At our request, you will be required to provide us with the latest financial statements, contingent liability details and any other reasonable information relating to you and/or your financial affairs.

D. CREDIT BUREAU
1. FORTCREDIT will approach a dedicated Credit Reference Agency for a credit report on the Applicant in considering any application for credit.
2. The Borrower authorizes FORTCREDIT to access any information available to it as provided by the Credit Agency.
3. The Borrower also agrees that his/her details and the loan application decision will be registered with the Credit Agency.
4. In the event the Borrower wishes to access the credit report, FORTCREDIT will advise the Borrower of the contact details of the relevant credit agency and the Borrower waives any claims he/she may have against FORTCREDIT in respect of such disclosure.

E. INFORMATION FROM EMPLOYER
The Employee hereby consents to FORTCREDIT requesting and its Employer confirming and or providing, relevant Employee information to FORTCREDIT as itemized under the Employer's Confirmation Section of the application, form as well as, any other information which FORTCREDIT may require hereunder.

F. DEFAULT
FORTCREDIT will apply the default rate from the date on which the Borrower was due to pay the sum. Default in terms of this Agreement will occur if:
1. The Borrower fails to make a repayment in full, on or before the payment date in accordance with the monthly repayment plan given by the borrower.
2. FORTCREDIT will charge an additional default charge of 1% daily on the unpaid sum.
3. The default charge accrues before and after any court judgement, FORTCREDIT will charge an additional default charge of 1% daily on the unpaid sum.
4. The default charge is a liquidated damage to compensate FORTCREDIT for the additional risk and other administrative costs and expenses associated with the Borrower's failure to pay outstanding credit.
5. Since this loan is tied to the employment status of the borrower, FORTCREDIT reserves the right to contact borrower's employer to intimate the borrower's employer of possible assistance in recovery.
6. Failed Repayment instrument/Dud cheque. Fortcredit reserves the right to call back the facility with immediate effect and take legal actions against the borrower.


If the borrowers default in their obligations under this Agreement, FORTCREDIT will be entitled to do the following:
1. Reserve the right to start legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.
2. FORTCREDIT Reserve the right to assign its rights, title and interest under the Agreement to an external collections agency who will take all steps within the bounds of the law to collect the outstanding loan amount who will take all steps within the bounds of the law to collect the outstanding loan amount.
3. Hold the Borrower responsible for all legal costs and expenses incurred by FORTCREDIT 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 in accordance with these Terms and Conditions.
4. Entitled to terminate this Agreement, if the Borrower in any way perpetrates or attempt to or is involved in any act of fraud or other criminal activity in Respect of FORTCREDIT or the Loan, or if any information provided by the Borrower as part of the application is incorrect or misleading in any material manner. On such termination, FORTCREDIT reserves the right to demand repayment of the full loan amount with interest calculated as stipulated in these Terms and Conditions.
5. In case of Default, FORTCREDIT can choose to recover any valuable item, property of the borrower to cover the loan amount and interest accrued

G. LIQUIDATION
A Customer is permitted to liquidate i.e. Pay up outstanding principal and 50% of the outstanding interest for the remaining duration

H. GOVERNING LAW
THIS TERMS AND CONDITION DOCUMENT IS GOVERNED BY NIGERIAN LAW AND ARBITRATION PANELS UNDER THE COURTS OF THE FEDERAL REPUBLIC OF NIGERIA AND HAS JURISDICTION IN ANY MATTER ARISING FROM IT.

I. VARIATION OF CONDITIONS:
FORTCREDIT reserves the right at all times to vary the terms and conditions of the Credit Facility agreement. Any such variation will become effective upon notice to the Borrower by any means FORTCREDIT considers reasonable in the circumstance.

J. CONSENT
The Borrower authorizes FORTCREDIT, its affiliates and its agents to use, process, disclose and transfer (whether within or outside this jurisdiction) all information relating to this Agreement, relating to the Borrower as FORTCREDIT considers necessary in connection with administering the borrowers account.