terms - Cash Plug

Welcome to Cash Plug. These terms and conditions outline the rules and regulations for the use of our website and services.

The borrower hereby undertakes to repay the full amount of the loan on or before the agreed due date(s) as specified in the Loan Agreement.

The borrower acknowledges and agrees that the loan repayment shall be made through cash deposit or electronic bank transfer.

In the event of the borrower's failure to adhere to the terms of this agreement, including non payment or late payment, the borrower shall be liable for any costs, fees, or penalties as determined by the lender. The borrower further acknowledges that such costs, fees, or penalties may be added to the total amount to be repaid.

Penalty fees will be charged by the lender in case of default or breach of the loan agreement by the borrower. The circumstances under which such penalty fees may apply include, but are not limited to, late payment, failure to make full repayment, or any other violation of the loan agreement.

The borrower confirms that all required statutory disclosures have been made by the lender and have been duly received and understood by the borrower. The borrower further acknowledges that the dispute resolution process, as outlined in the loan agreement, has been explained and understood.

The borrower confirms that he/she is in a position, both financially and legally, to enter into this loan agreement. The borrower further acknowledges that he/she has disclosed all relevant facts regarding their current and expected future financial position truthfully and accurately.

The borrower hereby consents to the lender employing all legal means necessary to establish the borrower 's creditworthiness, including but not limited to credit checks, verification of information provided, and any other lawful means deemed necessary by the lender.

The borrower has the right to make early repayment of the loan in full or in part before the agreed maturity date. Any early repayment shall be subject to the conditions and procedures as set forth in the loan agreement, including any applicable fees or charges.

The borrower shall have a minimum cooling-off period of 2 calendar days from the date of signing this agreement. During this cooling-off period, the borrower has the right to reconsider the loan agreement and, if desired, cancel the agreement without incurring any penalties or costs.

In these Terms and Conditions Governing Personal Loan, except to the extent that the context requires otherwise, the following capitalized terms shall have the following respective meanings:

refers to an account opened by the Borrower with Cash Plug for the purpose of among others disbursement of and repayment and payment for the Personal Loan, and which may survive the termination of the Personal Loan and relevant Loan Agreement;

refers to the application form as prescribed by Cash Plug pursuant to which the Borrower has applied or may apply for the Personal Loan and/or such letter(s), commitment, arrangement or agreement between Cash Plug and the Borrower from time to time in relation to the Personal Loan as may be revised, supplemented, varied or superseded by the Bank from time to time in its absolute discretion; "Approved Loan Amount " refers to the limit of the Personal Loan approved by Cash Plug including the approved loan and the premium of Credit Life Insurance (if any) from time to time for use under the Personal Loan; "Cash Plug " refers to Cash Plug Proprietary Limited and includes its branches, successors and assigns;

refers to a holder of the Personal Loan whether alone or jointly with any other person; “Collateral” refers to current account(s) (which may be or include the Account) or deposit stated in the Loan Agreement which is to be security to Cash Plug and is applicable to partially secured and fully secured Personal Loan only;

refers to any of the events listed in Clause 8.1;

refers to all agreements, notices, letters in respect of the Personal Loan, including but not limited to loan agreement, notification letter and acknowledgment letter as agreed between Cash Plug and the Borrower, all of which shall bind upon the Borrower;

refers to the loan, credit and/or banking facility or accommodation referred to in the relevant Application Form and which is granted or made available by Cash Plug to the Borrower on and subject to the terms and conditions contained therein, these Terms and Conditions Governing Personal Loan and any other such terms and conditions as Cash Plug may decide at its sole discretion; and "Statement of Account " refers to the Cash Plug 's periodic statement showing the amount due to Cash Plug on the Personal Loan.

Cash Plug may grant or continue to grant the Personal Loan to the Borrower if the following conditions are fulfilled or continued to be fulfilled:

(a) The Application Form shall have been accepted by Cash Plug in the manner as prescribed by Cash Plug;
(b) the Loan Agreement and all other documents, legal or otherwise, as may be required by the Cash Plug, shall have been duly completed and signed to the satisfaction of Cash Plug and all conditions to the effectiveness of the Loan Agreement and such all other documents shall have been satisfied;
(c) The Account shall have been opened by the Borrower at Cash Plug
(d) There shall be no potential Event of Default or Event of Default and all representations and warranties contained herein and in the Application Form and the Loan Agreement or otherwise shall be true and correct in all material respects;
(e) All documentary proof as may be required by Cash Plug shall have been duly furnished;
(f)there are no circumstances which in the opinion of the Cash Plug would adversely affect Cash Plug 's ability, decision or willingness to grant or continue to grant the Personal Loan to the Borrower; and
(g) All other conditions precedent as Cash Plug may require or impose has been fulfilled to the satisfaction of Cash Plug or otherwise has been duly complied with.

3.1 The Approved Loan Amount and availability period and term of the Personal Loan shall be notified by Cash Plug to the Borrower subject to the Cash Plug’s authorities.

3.2 The Approved Loan Amount can be reviewed and modified by Cash Plug with the borrower 's consent. Cash Plug may, with the borrower 's agreement, cancel, modify, or otherwise adjust the Approved Loan Amount. Additionally, Cash Plug has the authority to revise, restructure, or convert the Personal Loan into another type of facility, subject to the borrower 's consent and mutually agreed-upon terms and conditions.

3.3 The purpose of the Personal Loan shall be specified in the Loan Declaration and the Borrower agrees and undertakes to apply all amounts of the Personal Loan provided by Cash Plug in or towards such purpose.

4. DISBURSEMENT

4.1 Disbursement will only be made after the satisfaction or waiver, at Cash Plug’s sole discretion, of all conditions precedent set forth in Clause 2.

4.2 The Borrower shall be deemed to agree with the Approved Loan Amount granted by Cash Plug and all relevant terms and conditions of the Personal Loan by the manner of the withdrawal action on any partial or full amount of the disbursement amount which was disbursed into the Borrower’s bank account.

4.4. If Borrower fails to withdraw the Approved Loan Amount partially or in full from his/her Account and fails to sign the Acknowledgment Letter in relation to the Personal Loan within 10 days from the loan disbursement day, Cash Plug shall reserve the right to revoke the disbursed Approved Loan Amount by automatically debiting such amount from the Borrower’s account and deem that the Borrower has not been in agreement with Personal Loan. Cash Plug shall cancel the Personal Loan in its discretion without having to explain or notify further to the Borrower. Notwithstanding as mentioned, such cancellation shall not exclude the Borrower from any related responsibilities which has been accrued until the time of cancellation.

5.STATEMENT OF ACCOUNT AND PAYMENT

5.1 The Personal Loan will be repayable in the manner stipulated in the Loan Agreement. The Borrower shall examine the Loan Agreement which shall be conclusive and binding on the Borrower unless Cash Plug receives the Borrower’s written notification of any discrepancies in respect thereof within 7 days after signing and delivery of the Loan Agreement. The decision given by Cash Plug in respect of any such discrepancies duly notified by the Borrower shall be final conclusive and binding on the Borrower for all purposes whatsoever.

5.2 The Borrower shall examine the Statement of Account which shall be conclusive and binding on the Borrower unless Cash Plug receives the Borrower’s written notification of any discrepancies in respect thereof within 7 days after issuance and delivery to the Borrower. The decision given by Cash Plug in respect of any such discrepancies duly notified by the Borrower shall be final conclusive and binding on the Borrower for all purposes whatsoever

5.3 In case the Borrower shall not receive the Statement of Account on a regular period as defined by the Bank, the Borrower will be responsible to inform Cash Plug of such non-receipt otherwise the Statement of Account shall be deemed to be received on a regular period by the Borrower.

5.4 The due date of payment shall be determined by agreement between Cash Plug and the borrower. Cash Plug will work together with the borrower to establish the appropriate due date of payment, ensuring it aligns with the borrower 's preferences and needs. Any changes to the due date will be made with the explicit consent of the borrower and communicated in advance, in compliance with applicable law.

5.5 The repayment amount shall include principle, interest, all charges and fees (if any) of the amount of the Personal Loan as notified by Cash Plug. The 1st repayment will be paid by the Borrower within the due date after the Personal Loan has been disbursed to the Borrower.

5.6 The Personal Loan must be repayable by monthly instalments within the due date as notified by Cash Plug. The repayment must be made in BWP or any foreign currency as notified by Cash Plug and under the regulations or laws of Botswana.

5.7 Except as otherwise specifically provided in the Loan Agreement or agreed in writing by the Bank, all payments of principal, interest, charges and fees (if any) of the Personal Loan due and payable by the Borrower shall be made in immediately available funds to the Cash Plug by debiting the Account within the due date. For the purpose of this paragraph, the Borrower shall be obliged to maintain, no later than 4:30 PM on such due date, a balance in the currency of payment in the Account at least equal to such amount of principal, interest, charges and fees (if any) of the Personal Loan as notified by Cash Plug due and payable on such due date. The Borrower shall hereby authorize Cash Plug to effect such payment as directed by the Borrower.

5.8 In case that the Borrower intends to prepay the partial or the whole amount of the Personal Loan before the maturity date, the Borrower shall give Cash Plug prior irrevocable written notice of its intent to prepay the Personal Loan and shall pay a prepayment fee and all charges at Cash Plug’s prevailing instruction (if any).

5.9 In case of the partial prepayment, the maximum amount of partial prepayment will be defined by Cash Plug, subject to change from time to time.

5.10 In case that the Borrower is unable to make any repayment as caused by death, loss of capacity for civil act, non-residence in Botswana or otherwise, Cash Plug reserves the right to transfer the liability of repayment so as such liability

of repayment shall be undertaken by legally inheritor, authorized person of the will, delegated person of the Borrower, or any family relative person of the Borrower to the extent not contrary to applicable law.

5.11 With personal loan through payroll at the Bank agreed with Cash Plug, if Cash Plug does not receive money from the Borrower’s payroll due to resign, change of payroll to another bank or change to a new company without notice to Cash Plug, Cash Plug has the right to retrieve all the remaining debt directly and immediately from the Borrower.

6.INTEREST

6.1 Interest is calculated on a daily basis on the outstanding balance;

6.2 calculated on a 365-day year, irrespective of whether the relevant year is a leap year;

6.3 charged in arrears and is due and payable on the Repayment Due Date; and

6.4 debited to your Account.

6.5We shall be entitled to add any unpaid interest to the outstanding balance of the Principal Debt which at that stage is still payable in terms of this Agreement.

6.6 Interest on the Personal Loan shall be calculated and charged into repayment amount as agreed in the Loan Agreement. These Terms and Conditions Governing Personal Loan will continue to apply and remain in force up to the date that amounts due under the Personal Loan are paid in full as well as before and after any judgment obtained in respect of any outstanding amount of the Personal Loan.

6.7 If the repayment amount due hereunder is not paid on its due date of payment, the charge (if any) shall become payable by the Borrower, subject to such amount as may be determined by Cash Plug from time to time.

6.8 All interests and penalties which pass the loan tenor stated on the contract (includes but unlimited of late payment/ odd day interest/ penalty) will be paid same as early redemption fee.

6.9 Cash Plug shall, with the consent of the borrower, determine or vary the rates and basis of calculation of interest payable by the Borrower under these Terms and Conditions Governing Personal Loan to the extent not contrary to applicable law.

7. CHARGES, COSTS, EXPENSES AND TAXES

7.1 The Borrower shall pay to Cash Plug all charges and/or fees in respect of the Personal Loan as stated in the Loan Agreement and/or at Cash Plug's prevailing instructions.

7.2 To the extent not contrary to applicable law, Cash Plug may at any time at its absolute discretion and upon written notice to the Borrower, change the amount of any charges or fees payable by the Borrower as stated in the Loan Agreement and/or at the Cash Plug 's prevailing instructions. Such change(s) shall take effect from the date stated in the notice, which in most instances shall be no less than 30 days from the date of the notice.

7.3 All legal fees and such other reasonable costs, expenses, disbursements and taxes incurred by Cash Plug in creating, perfecting and enforcing Cash Plug's rights under the Personal Loan and these Terms and Conditions Governing Personal Loan or otherwise in administering, demanding and collecting payment of any monies due under the Personal Loan and these Terms and Conditions Governing Personal Loan including but not limited to legal costs and any goods and services tax thereon shall be borne by the Borrower on a full indemnity basis.

8. REFUND

8.1 In case Monthly Instalment Repayment Interest is applied, the first payment will include normal Monthly Instalments Repayment and Monthly Instalments Repayment Interest.

8.2 All the payments will be made in accordance with Clause 5.7 of The Terms and Conditions Applied for Personal Loan and on working days (from Monday to Friday and do not include Saturday, Sunday and holidays in Botswana or the days that Cash Plug do not work are approved by NBFIRA). If the payment is due on the day that is not working day, the due date of that payment will be the next working day.

9. EVENT OFDEFAULT

9.1 Without prejudice to any other terms in the Loan Agreement and Cash Plug’s right to demand immediate repayment of any Personal Loan which is repayable on demand, the Borrower shall immediately repay, on demand, the Personal Loan and interest on the Personal Loan which are outstanding and unpaid, and all other charges and moneys payable in relation to the Personal Loan upon any of the following events of default happening:

(a) any of the instalment repayments of the Personal Loan and/or interest payable under the Loan Agreement and these Terms and Conditions Governing Personal Loan are not paid when due;
(b) Any other money that the Borrower owes Cash Plug under the Personal Loan is not paid when due;
(c)The Borrower fails to pay on the due date any amount that the borrower must pay under this Agreement or does not comply with any obligation of the Borrower under this Agreement or any guarantee document.
(d) The Borrower breaches its obligations of payment, when due or when the time to redress violations, under any agreement with any other creditors or with Cash Plug;
(e) Proceedings are taken against the Borrower or the Borrower 's property or the property manager or similar person appointed for the assets of the Borrower, or the criminal case is conducted against the Borrower, which in the opinion of Cash Plug may have a significant adverse effect on the Borrower's ability to perform its obligations under this Agreement;
(f) Cash Plug has the right to sue and request the employer to pay money directly instead of employee in the event of late payment without any additional notice in case company chose the Salary Deduction for Employees working in company.
(g) Cash Plug will collect penalty interest on outstanding balance and any overdue payments in the event of violations. The interest penalty will be calculated as outlined in the Loan Agreement.
(h) The Borrower commits or threatens to commit a breach of any of the terms and conditions hereof or of any agreement or security (if any) for the Personal Loan;
(i) The Borrower becomes insolvent or enter into any arrangement or composition for the benefit of the Borrower’s creditors or the Borrower has any petition filed or notice issued for passing of a resolution for the winding-up of or appointment of a judicial manager or the Borrower has taken any step for making of a bankruptcy petition or bankruptcy order against the Borrower (1)
(j) Any of the Borrower’s present or future indebtedness for or in respect of money borrowed or raised (whether from Cash Plug or any other person) becomes (or becomes capable of being declared) due and payable before its stated due date or any such indebtedness is unpaid when due or, as the case may be, within an appropriate grace period;
(k) If the Borrower dissolves or there is any change whatsoever in the Borrower’s constitution because of death or retirement or removal of any member or the introduction of any new member without earlier written consent by Cash Plug;
(l) The Borrower dies or becomes loss of capacity for civil act;
(m) If the Borrower has ceased or threatens to cease to carry on the Borrower’s business, or in Cash Plug’s opinion, the Borrower’s business is in jeopardy, or any governmental authority take any action that would prevent the Borrower from carrying out all or any substantial part of its business;
(n) Any of the Borrower’s declaration or representation set out in these Terms and Conditions Governing Personal Loan, the Application Form or the Loan Agreement relating to the Personal Loan, as varied from time to time, is or becomes untrue;
(o) If credit bureau (if any) conducted by Cash Plug from time to time or any other similar credit check on the Borrower is unsatisfactory to Cash Plug as Cash Plug may decide at our sole discretion;
(p) If any governmental authority condemns, nationalizes, seizes or otherwise expropriates, or seals, blocks or freezes, or uses for public purposes or for the purposes of national defence or security and other similar special circumstances, all or any substantial part of the property or other assets of the Borrower;
(r) If any provision of these Terms and Conditions Governing Personal Loan or the Loan Agreement is, or is alleged by the Borrower to be, or is declared by any governmental authority or court to be, ineffective, invalid, illegal or void, in whole or in part;
(s) If a court of competent jurisdiction issues a judgment or decision against the Borrower; or an arbitration body of competent jurisdiction issues an award against the Borrower; or
(t) An event occurs or circumstances arise which gives Cash Plug reasonable grounds to believe that the Borrower may not be able to perform or comply with any of obligations.

10. JOINT ACCOUNT

10.1 All joint Borrowers shall be jointly liable for all monies owing to Cash Plug under the Personal Loan.

10.2 Wherethe Personal Loan is a joint account with more than one Borrower:

(a) all references to "the Borrower " under these Terms and Conditions Governing Personal Loan shall refer to each and every one of the Borrower individually or all of them collectively, as the context may require;
(b) all covenants, provisions, terms, conditions, or obligations shall be deemed to be made by and be binding on all joint Borrowers jointly and severally and shall also be binding on and applicable to their respective personal representatives and successors in title accordingly;
(c) all notices and communications sent or given by Cash Plug to any one of the Borrowers shall be deemed to be sent or given to all Borrowers; and
(d) all instructions given by any of the Borrowers shall be deemed to be given by all Borrowers; provided always that if the instructions given are considered by Cash Plug to be contradictory or ambiguous Cash Plug shall be entitled in its absolute discretion to decide whether or not to act on them or to obtain clarifications from the joint Borrowers.

11. BORROWER 'SPARTICULARS

11.1 The Borrower shall notify Cash Plug promptly in writing of any change in his employment office, home address, and contact numbers and as may be required by Cash Plug, any other information previously provided to Cash Plug in the Application Form.

11.2 If the Borrower’s latest address is not notified to Cash Plug or the whereabouts of the Borrower is unknown to Cash Plug for 6 months, the Personal Loan may be terminated at Cash Plug 's absolute discretion and the Personal Loan closed accordingly whereupon all monies owing to Cash Plug under the Personal Loan and these Terms and Conditions Governing Personal Loan together with all charges (if any) thereon shall immediately become due and payable to Cash Plug.

12. REPRESENTATIONS AND WARRANTIES

12.1 The Borrower warrants and represents that all information, declarations, representations, and warranties made or given by him or as evidenced by any documents given to Cash Plug in connection with the Personal Loan and all particulars indicated in any Application Form(s) relating thereto are and will continue to be true and correct in all respects and will be complied with at all times.

12.2 No litigation, arbitration or administrative proceeding is taking place or pending or threatened against the Borrower or its assets, and no tax liability claim is taking place or pending or threatened against the Borrower or its assets.

12.3 The Borrower confirms that Cash Plug is entitled to rely on the said information, declarations, representations and warranties in granting the Personal Loan and that he shall immediately upon request furnish Cash Plug with all such documents, statements, information and explanation as may be reasonably required by Cash Plug from time to time regarding his affairs, state or condition, financial or otherwise, that may affect Cash Plug 's decision in granting or in continuing to grant the Personal Loan to him.

12.4 Cash Plug agrees to offer the Personal Loan which can be unsecured, partially secured, or fully secured type. However, in case that there is any change on security requirement as caused by any reason, Cash Plug reserves the right to change the conditions of security type of the Personal Loan. Moreover, the Personal Loan may be terminated with borrower’s consent and the Personal Loan closed accordingly whereupon all monies owing to Cash Plug under the Personal Loan and these Terms and Conditions Governing Personal Loan together with all charges (if any) thereon shall immediately become due and payable to Cash Plug.

12.5 In case that the Borrower becomes unemployment after the Personal Loan has been disbursed, Cash Plug reserves the right to request any warranty from the Borrower to ensure the repayment can be made according to the monthly schedule that has been binding in these Terms and Conditions Governing Personal Loan.

13. DISCLOSURE OFINFORMATION

The Borrower irrevocably and unconditionally consents for the Bank and any officer of Cash Plug to disclose any customer information relating to the Borrower or any information whatsoever relating to the Borrower as Cash Plug shall consider appropriate to any person to whom disclosure is permitted or required by any statutory provision or law or to any other person wherever situate for any purpose whatsoever and it is hereby agreed that Cash Plug and any officer of Cash Plug may disclose the foregoing information to the fullest extent permitted by any statutory provision or law.

Without prejudice to the foregoing, the Borrower consents to such disclosure to any credit bureau or any other organization or corporation set up for the purpose of collecting and providing information relating to the credit standing of persons, and to the disclosure by such credit bureau or other organization or corporation to any member thereof, for the purposes of assessing the Borrower’s credit worthiness or for any other purpose whatsoever. The rights conferred on Cash Plug herein shall be in addition to and shall not be in any way prejudiced or affected by any other agreement, expressed or implied, between the Borrower and Cash Plug in relation to any information referred to herein nor shall any such other agreement be in any way prejudiced or affected by any provision herein. This consent and provision shall survive the termination of any or all of the Borrower’s facilities with Cash Plug, and/or the termination of any relationship between the Borrower and Cash Plug, for any reason whatsoever.

14. TERMINATION

14.1 Borrower Termination The Borrower may terminate this Loan Agreement by: (a) giving the Lender written notice of such termination; and (b) paying all monies owing under the Loan Agreement and the Terms and Conditions Governing Personal Loan together with all charges (if any)

.

14.2 Lender Termination The Lender may terminate this Loan Agreement if the Borrower fails to comply with any of the terms and conditions of the Loan Agreement. The Lender shall provide the Borrower with written notice of the breach and an opportunity to rectify the breach within a reasonable period of time. If the Borrower fails to rectify the breach within the reasonable period of time, the Lender may terminate the Loan Agreement.

15 EXEMPTION FROMLIABILITIES

15.1 To the extent not contrary to applicable law, Cash Plug shall not be responsible for any losses or damages which the Borrower or any other person(s) may suffer or incur due to any delay or refusal of Cash Plug to grant or to continue to grant the whole or part of the Personal Loan to the Borrower and shall not be obliged to give any reason for such delay or refusal.

15.2 Without prejudice to the foregoing, and to the extent not contrary to applicable law, Cash Plug shall not in any event be responsible for or liable to the Borrower for any losses or damages which the Borrower may suffer in respect of any revision of the amount, suspension or termination of the Personal Loan, changes to any of these Terms and Conditions Governing Personal Loan or any other exercise of Cash Plug 's rights under these Terms and Conditions Governing Personal Loan, at law or in equity.

16 STATEMENT OF IN DEBTEDNESS

In addition to any remedies, lien, right of set-off or other rights which Cash Plug may have under these Terms and Conditions Governing Personal Loan, at law or in equity, Cash Plug shall be entitled at any time and without notice to the Borrower to combine or consolidate all or any of the Borrower 's account(s) with Cash Plug whether held alone or jointly with any other person(s) or set-off to the credit of such account(s) (whether matured or not) in or towards the satisfaction of any or all outstanding balances and other liabilities due from the Borrower under the Personal Loan and these Terms and Conditions Governing Personal Loan.

17. RIGHT OFSET OFF

In addition to any remedies, lien, right of set-off or other rights which Cash Plug may have under these Terms and Conditions Governing Personal Loan, at law or in equity, Cash Plug shall be entitled at any time and without notice to the Borrower to combine or consolidate all or any of the Borrower's account(s) with Cash Plug whether held alone or jointly with any other person(s) or set-off to the credit of such account(s) (whether matured or not) in or towards the satisfaction of any or all outstanding balances and other liabilities due from the Borrower under the Personal Loan and these Terms and Conditions Governing Personal Loan.

18. SALARY DEDUCTION LOAN PROGRAM FOR EMPLOYEES IN COMPANIES

In case the Borrower borrows loan under this Agreement by participating in and achieving the benefits from Salary Deduction Loan Program For Employee of any company or government department with a Group Scheme Agreement (contract) with Cash Plug and the repayment of loan in This Agreement shall comply with the salary deduction specified in the Salary Deduction Loan Program For Employees of any company or government department with a Group Scheme Agreement (contract) with Cash Plug, the Borrower commits and ensures that the Borrower has made the authorization for the employer of the Borrower for the employer of the Borrower to conduct deductions in accordance with Salary Deduction Loan Program For Employees of any company or government department with a Group Scheme Agreement (contract) with Cash Plug. In the case of the repayment of loans under this Agreement is made according to the payroll program specified in the Salary Deduction Loan Program For Employees of any company or government department with a Group Scheme Agreement (contract) with Cash Plug, the Borrower agrees that all salary and other income of the Borrower will be used by the employer of the Borrower to pay directly into the borrower 's loan account opened at Cash Plug.

a) The amendment, supplement and/or replace the Terms and Conditions applied for Personal Loan by Cash Plug from time to time will be deemed to refer from these terms and is an indispensable part of The Terms and Conditions Governing Personal Loan.
b) Cash Plug and the Borrower agree that Cash Plug notifies the employer of the employee on the employee 's payment and request the company to support the payment on schedule.
c) Cash Plug offers special rates for customers who have payroll or salary deduction through a Group Scheme Agreement (contract) with Cash Plug. In case the Borrower has no payroll or salary deduction through a Group Scheme Agreement (contract) with Cash Plug, Cash Plug has the right to collect monthly fees from customers who do not participate in this special program any more. Monthly fees are stated in the Most Important Document of the Application for Banking Relationship form.

19. CREDIT LIFE INSURANCE

The Borrower has the right, and not obligation to buy Credit Life Insurance in order to protect the Borrower against any risks of payment incapacities in case of disability / death .The premium of Credit Life Insurance, if opted, may be paid either separately by the borrower or included in the Loan amount. Any cancellation of Credit Life Insurance shall not be made after 21 calendar days following the first drawdown.

19.1 If the insurance premium is paid separately by the borrower: any cancellation in full or in part of the Credit Life Insurance Premium opened amount shall be credited to the borrower’s account at Cash Plug;

19.2 If the insurance premium is included into the loan amount, as stated under Article 1 above, any cancellation in full or in part of the Credit Life Insurance Premium amount shall be automatically deducted from the loan outstanding amount.

20. OTHER TERMS AND CONDITIONS

The change of Cash Plug name for any reason, in all cases, will not lead to the termination of this Agreement and the Borrower must comply with its obligations under the provisions of this Agreement.

20.1 Any documents provided by the Borrower for Cash Plug to consider loan will not be returned to the Borrower, unless prescribed by law or in the discretion of Cash Plug.

20.2 The Borrower agrees that Cash Plug reserves the right to revalue or withdraw the loan of the Borrower in case of the Borrower resignation / termination of employment with the employer of the Borrower.

20.3 If the actual loan purpose differs with the agreed purpose between parties, Cash Plug has the right to withdraw the loan and request all the charges under this Agreement are made immediately and must be paid and the Borrower will have to compensate Cash Plug completely and fully with all complaints and requests related to proceeding and legal documents, losses and expenses including layer fees and other obligations, whether accidental or intentional, which can occur or incurred by Cash Plug.

20.4 The Borrower agrees to be bound by and to abide by Cash Plug’s General Accounts Terms, and Cash Plug 's Terms and Conditions Governing other Cash Plug Services made available by Cash Plug from time to time. The Borrower acknowledges that such terms and conditions may be amended by Cash Plug from time to time and the latest versions thereof are available for the Borrower 's reference at any of Cash Plug 's branches.

20.5 In the event of any inconsistency between the Cash Plug’s General Accounts Terms and where applicable Cash Plug 's Terms and Conditions Governing other Cash Plug Services made available by Cash Plug from time to time and those contained in these Terms and Conditions Governing Personal Loan, these Terms and Conditions Governing Personal Loan (as may be amended, modified and supplemented from time to time) shall prevail.

The amendment, supplement and/or replace the Terms and Conditions applied for Personal Loan by Cash Plug from time to time will be deemed to refer from these terms and is an indispensable part of The Terms and Conditions Governing Personal Loan.

21.1 To the extent not contrary to applicable law, Cash Plug may at any time at its absolute discretion and upon notice (whether in written form or otherwise) to the Borrower, change any one or more of these terms and conditions hereof as well as changing the loan details in my Loan Agreement including but not limited to loan amount, interest rate, equaled monthly instalment amount, equaled monthly instalment due date, tenor, first repayment date, last repayment date, etc…. Such change(s) shall take effect from the date stated in the notice, which in most instances shall be no less than 30 days from the date of the notice.

21.2 If the Borrower is not agreeable to such amendments, the Borrower must terminate the Personal Loan by written notice to Cash Plug before the said effective date and all sums owing and charges (if any) by the Borrower in respect of the Personal Loan and these Terms and Conditions Governing Personal Loan together with all charges (if any) thereon shall forthwith be paid to Cash Plug in full. Where the Borrower continues to use the Personal Loan shall be deemed to have agreed with and accepted such amendments.

21.3 Cash Plug may notify the Borrower of any changes to these Terms and Conditions Governing Personal Loan by:

(a) publishing such changes in the Statements of Account to be sent to the Borrower (if any);

(b)displaying such changes at Cash Plug 's branches or automated teller machines;

(c)posting such changes on the Bank 's website;

(d) electronic mail or letter;

(e) tariff of charge

(f)publishing such changes in any newspapers;

(g) or such other means of communication as the Bank may determine in its absolute discretion.

22.1 Any disputes between Cash Plug and customers can be solved at the competent court and/ or court with authority being either a Magistrate Court or High Court within Gaborone City, Botswana ONLY.

22.2 Any notice, court document, or other originating process in any legal action or proceeding, demand and other correspondence may be made by Cash Plug or by any person or firm acting as Cash Plug 's agent or solicitor by serving the same on the Borrower personally or by leaving or ordinary mail to the Borrower 's address registered with Cash Plug or last known to Cash Plug. Such notice, court document, originating process, demand and other correspondence shall be deemed to have been duly delivered to or served on the Borrower on the day of personal service or leaving or if sent by post on the next business day following the date of posting notwithstanding that it may be returned by the post office undelivered.

No failure or delay by Cash Plug in exercising or enforcing any right under these Terms and Conditions Governing Personal Loan shall prejudice, affect, impair or restrict any of Cash Plug 's rights and powers under the Personal Loan and these Terms and Conditions Governing Personal Loan, at law or in equity, nor shall any waiver of any breach hereunder operate as a waiver of any subsequent breach.

If any one or more of the provisions in these Terms and Conditions Governing Personal Loan are deemed invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of these Terms and Conditions Governing Personal Loan shall not in any way be prejudiced, affected or impaired.

These Terms and Conditions Governing Personal Loan shall be governed by and construed in accordance with the laws of Botswana and the Borrower shall submit any dispute (if any) to the non-exclusive jurisdiction of the courts of Botswana.

26.1 Cash Plug may assign any or all of its rights hereunder without the Borrower 's consent. The Borrower may not assign any of its rights hereunder without Cash Plug 's prior written consent.

26.2 These Terms and Conditions Governing Personal Loan shall be binding and ensure to the benefit of Cash Plug and the Borrower and Cash Plug’s successors or assigns and shall continue to be binding on the Borrower notwithstanding: (a) (b) any change in name or constitution of Cash Plug; or any consolidation or amalgamation of Cash Plug into or with any other entity; in the event of such consolidation or amalgamation, such entity shall be substituted for Cash Plug in relation to these Terms and Conditions Governing Personal Loan which shall continue in full force and effect as between the Borrower and such entity.

26.3 TheBorrower agrees that Cash Plug may assign or transfer, subject to fulfillment of any applicable legal and regulatory requirements, any or all of its rights and obligations under these Terms and Conditions Governing Personal Loan and any other agreements from time to time entered into by the Borrower with, or in favour of, Cash Plug’s branches in Botswana (“Cash Plug documents”) to any credit institution licensed to conduct micro lending or banking operations in Botswana, including any affiliate1 of Cash Plug (each a “transferee”), whereupon the transferee will assume all of the rights and obligations of Cash Plug assigned or transferred to it. The Borrower confirms that, upon any such assignment or transfer taking effect, all rights and obligations of Cash Plug and any accounts so assigned or transferred shall become rights or obligations of the transferee, and that any rights of Cash Plug so assigned may be enforced by the transferee against the Borrower as if the transferee had been a party to, or a beneficiary of, any relevant Cash Plug documents in place of Cash Plug. The Borrower further agrees that it will execute and deliver all such additional documentation and cooperate with Cash Plug and any transferee in effecting any necessary filings or registrations or any amendments to any relevant Cash Plug documents in relation to, or which Cash Plug or the transferee notifies the Borrower may be necessary or appropriate as a result of, such assignment and transfer, and that as of the date of the transfer the Borrower shall have no further claim against Cash Plug and its affiliates for any matter arising out of the Cash Plug documents.

26.4 The Borrower allows Cash Plug to outsource the management and/or collection of debt as well as the litigation process to a third party at discretion of Cash Plug.