Credit Now

Welcome to the Platform (defined below).

Please read the following terms of use (“Terms of Use ”) carefully before you further use this Platform. The Terms of Use contain terms and conditions governing your use of the Platform as well as services in the Platform, including but not limited to the information services, Loan services, and other services that may be developed by the Services Provider.

By accessing and/or using the Platform, you will be deemed to consent to these Terms of Use. If you do not agree to these Terms of Use, please immediately stop using the Platform.

1.DEFINITION

In these Terms of Use, the terms used shall have the following meanings: “ Business Day ” means a day (other than Saturday, Sunday, or public holiday) “ Lender ” means person, legal entity, and/or business entity having reveivables under the Loan Agreement made through the Platform. “ Borrower ” means person and/or legal entity having debt under the Loan Agreement made through the Platform; “ Users ” means the Lender, Borrower, prospective Lender, and/or prospective Borrower which uses Platform for, among other things, looking for information on the Platform services, distribute Loan through the Platform, and obtain Loan through the Platform. “ Loan ” means funds provided to the Borrower by the Lender under the Loan Agreement made through the Platform; “ Platform ” means website and application developed or used by the Services Provider for bringing together the Lender and the Borrower for the purpose of distributing the Loan, which can be accessed through Tingo or through other channels that may be developed and/or used from time to time by the Services Provider for that end.

2.USING THE PLATFORM

To use the Platform, You must: (a) accept and agree to these Terms of use and the Privacy Policy which can be accessed here (b) register with us on the Flowood Platform; (c) provide all information as may be requested by us, such as your name, occupation, email address, mobile device number, online credentials for your bank account, and such other information as we may request from time to time . You may use the Platform to obtain information on the loan offer, registering for obtaining loan, communicating with the Services Provider, or other features provided in the Platform by the Services Provider from time to time.

3. CREATING THE ACCOUNT

3.1 To enjoy certain services in the Platform, you may be asked to create an account in the Platform. In creating the account, you may be asked to provide data related to you.

3.2 You hereby represent and warrant that the data you submit for creating the account are true and correct as well as actual. You agree that your representation on the correctness and accuracy of the data you submit under this Article is sufficient act to verify the data you provide. Nevertheless, you agree that the Services Provider may carry out other actions that are necessary to verify the correctness and accuracy of the data you provide.

3.3 You hereby represent and warrant that you have the capacities and power necessary to create the account in the Platform, either under the laws and regulations or under any contractual obligations binding upon you, and you indemnify the Services Provider against any losses, claims, and actions in relation to the creation of the account in the Platform which is not in line with the representations and warranties that you provide.

3.4 Please keep your account and password confidential. You acknowledge and agree that there is no mechanism that can fully ensure that the Platform or system used can ascertain that you are the true user of your account. Please comply with the confidentiality rules for your account and password. You agree that the Services Provider will deem any transactions entered into and legal conduct carried out by your account as transactions entered into and legal conduct carried out by you, and you shall be responsible for the use of your account, unless there is security breach in the system of the Services Provider which will soon be notified to you.

3.5 If you know or have sufficient reasons that your account has been compromised, hacked, and/or in any way illegally accessed by third parties, please contact us .

3.6 The personal data you provide through the Platform shall be subject to the Privacy Policy which can be accessed here. Please read the Privacy Policy carefully.

4. USING THE ACCOUNT

4.1 You shall be responsible for using your account in accordance with the prevailing laws and regulations. You agree that you will not use your account for any actions which violate the laws and regulations, including but not limited to, falsifying the identities, engage in money laundering crimes, or other actions not in conformity with the laws and regulations.

4.2 You agree that the Loan you obtain or provide through the Platform will be used solely for purposes stated in the loan agreement to be entered into between the Borrower and the Lender (as represented by the Service Provider).

4.3 You agree that other than the actions prohibited by the laws and regulations, you shall also be prohibited from using the account in such a way that may harm other parties, including but not limited to, Services Provider, or other third parties. Actions causing harms to other parties include but not limited to, disabling the electronic systems control, spam mail, illegal disclosure of the third party’s confidential information, copying each of the parts of the Platform without authorization(regardless of whether it is protected by the intellectual property or not), uploading contents with violence, indecency, attack on other’s dignity, contents protected by the other’s intellectual property, or other actions that may harm other parties.

4.4 You understand and agree that you may only have one account in the Platform, unless the Services Provider determines otherwise. For this purpose, you agree that you shall not create and not attempt to create, directly or indirectly, nore than one account in the Platform.

4.5 The Services Provider shall have the rights to close your account if you do not comply with the Terms of Use. However, you shall be responsible for the contents you upload which are in violation of the Terms of Use, and you shall indemnify the Services Provider against any kinds of consequences arising out of the contents you upload to the Platform which are in violation of the Terms of Use.

5. THIRD PARTY CONTENTS

The Platform may contain links or information which if accessed, constitutes information provided and developed by third party platform. If you are redirected to the platform provided and developed by the third party, the contents shall be subject to the terms of use set out by the third party and the contents of which shall be the full responsibility of the third party.

6. INTELLECTUAL PROPERTY

6.1 Platform and all its components may contain copyrights, trademark, patent, or other intellectual properties owned by the Services Provider. You are not allowed in any manner whatsoever to use, copy, distribute, or obtain economic rights from any components in the Platform without prior permission from the Services Provider.

6.2 Subject to the Terms of Use of the account referred to in Article 4 above, you agree that you shall not have claims over any intellectual properties for any contents you upload through the Platform, and therefore, all contents you upload shall be owned by the Services Provider and the Services Provider shall be entitled to obtain economic benefit for the use of the contents. If the laws or courts decide that despite the Terms of Use you are the owner of the intellectual property of the contents you upload to the Platform, you hereby grant full license to the Services Provider to do anything in respect of the contents as if the Services Provider is the party owns the intellectual property of the contents, including but not limited to using, copying, communicating or in any manner whatsoever obtaining economic benefits from exercising the intellectual property rights. This provision is subject to Privacy Policy which can be accessed here.

7. NO WARRANTY

7.1 Services Provider provides the services through the Platform on an as is basis without any warranties on the availability, performance, free-of-error, free-of-mistake or any other warranties, express or implied, in relation to the use of the Platform. You understand that the electronic system is vulnerable against the malfunction or disruption and there is no such a perfect system that can handle any kind of error. Although the Services Provider will make best effort to handle each and every system malfunction, the Services Provider shall not be responsible if the system malfunction is caused by third party.

7.2 To the extent permitted by the prevailing laws and regulations, the Services Provider hereby disclaims any kinds of requirements, representations and/or warranties by the Services Provider, in relation to the use of Platform by you.

8. LIMITATION OF THE LIABILITY

8.1 To the extent permitted by the prevailing laws and regulations, the Services Provider shall not be responsible to you for any loss suffered in relation to the use of the Platform by you unless it can be proven that there is fault on the part of the Services Provider which directly causes the loss to you. If the loss is caused by third parties with whom you enter into legal relationship which is facilitated by this Platform, the loss shall fully be the responsibility of the third party and you agree that you shall indemnify the Services Provider against any claims, actions, or lawsuit in any forms whatsoever.

8.2 Without prejudice to the foregoing, the Services Provider shall not be responsible for any indirect losses, such as but not limited to, business continuity, loss of profits, loss of business opportunities, or damage to reputation.

9. OTHERS

9.1 These Terms of Use are construed and governed by the laws of the Republic of Nigeria. .Any claim or dispute arising in relation to this Terms of Use shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria, in accordance with the prevailing laws and regulations.

9.2 If there is any provision in the Terms of Use that are declared invalid or violating the laws and regulations, the terms shall not affect the validity of the remaining provisions and these Terms of Use shall be deemed to be revised in a way that reflects the conformity with the laws and regulations.

9.3 No waiver of any rights of the Services Provider which shall be given unless it is clear and made in writing by the Services Provider. Non-performance or delayed performance or partial performance of rights of the Services Provider shall not be deemed waiver of any rights of the Services Provider.

10. COMPLAINTS AND INFORMATION SERVICES

If you have any questions in relation to the Platform, you may contact the our customer service.

THIS PRIVACY POLICY (THIS AGREEMENT/ PRIVACY POLICY) SETS FORTH THE MODES OF COLLECTION, USE AND DISCLOSURE OF YOUR INFORMATION GATHERED ON THE PLATFORM (DEFINED BELOW). THIS PRIVACY POLICY APPLIES ONLY TO PERSONAL INFORMATION COLLECTED ON THE PLATFORM. THIS PRIVACY POLICY DOES NOT APPLY TO INFORMATION COLLECTED BY US IN OTHER WAYS, INCLUDING INFORMATION COLLECTED OFFLINE. PLEASE READ THIS PRIVACY POLICY CAREFULLY. BY CONTINUING TO USE THE SERVICES, OR ACCESS THE PLATFORM YOU AGREE TO THIS PRIVACY POLICY. IF YOU DO NOT AGREE TO THIS PRIVACY POLICY, YOU MAY NOT AVAIL THE SERVICES.

INTRODUCTION. We have developed a mobile application called (creditnow/cashrun) (Application/ App / Platform) through which you may apply for a short term loan (Loan) to be granted by us, or various non-banking financial company or Banks (collectively as Lender), based on the loan agreement executed between you and LENDER. We have been appointed and authorized to collect, store, authenticate, verify and distribute the Personal Information (defined below) as may be required for sanctioning the Loan. The Personal Information shall be collected through the mobile application form available on the Application. We are committed to protect your privacy and have made this Privacy Policy to describe the procedures we adhere to for collecting, using, and disclosing the Personal Information. We recommend you to read this Privacy Policy carefully so that you understand our approach towards the use of your Personal Information.

PERSONAL INFORMATION COLLECTED. The data we collect. When you register for the Service, we will collect your telephone number and may also collect your name, age, bank verification number (BVN), email address or other contact information. With this information, we may cross-check your identity with third parties including the person you have provided as your emergency contact. We will also collect data from your device for our credit scoring system. This includes information relating to your device, such as device make and model, operating system, and installed software applications. We retain the intellectual property of the scoring system, and we could use or authorize our business partners and joint markting arrangement partners to use this scoring system.We may also collect your email and phone-book contacts and information related to device activity such as SMS logs and GPS location information. To supplement this information, we may also collect data from third parties such as credit bureaus and other financial institutions. By registering for the Service, you authorize the collection and processing of the foregoing data.The SMS and CONTACT information collected from the device is further detailed below.

SMS

We will collect your money-related SMS in order to evaluate your current assets and provide you a reasonable credit rating in respect to your account.

Contacts

We may collect your contact information especially your close contact in order to autofill the data when you apply for a loan form us. We may use the contact information as an alternative to contact the user. We may provide the telephone consultation during the process of we granting a loan to you in order to fully acknowledge your debt risk situation and provide better service to you.

Location

We may collect the location information of the equipment, including the longitude, latitude, location area, location area code, positioning mode, positioning time, and other position-related information of the user equipment;The purpose of collection: to score the user's credit and ensure the security of the user's account by monitoring the user's actual location information. For example, to verify the authenticity of user authentication information when users register for authentication; For security reasons, when users open the APP to log in, we need to judge the actual location of the user to confirm whether there is a risk to the user account, and timely notify the user in case of abnormalities to ensure the safety of user funds.Location information will also be uploaded to our servers encrypted and will not be shared with any third parties.

Mobile phone(device)

We may collect your device information including your device name, the unique device identifier assigned to that device by phone makers, carriers, or makers of the operating system, language settings, device hardware, and software information, browser, camera, album, app list which the user installed, memory capacity .

We may analyze the model, capacity and unique device identifier of the user, in order to identify the uniqueness of the user and protect your data security; and may analyze the user's financial app installation for the understanding of user's recent financial status in order to provide a reasonable credit rating based on our big data model.

GOVERNING STATUTE. This Privacy Policy is construed and governed by the laws of the Republic of Nigeria.

COOKIES. We may set cookies to track your use of the Platform. Cookies are small encrypted files, that a site or its service provider transfers to your device’s hard drive that enables the sites or service provider’s systems to recognize your device and capture and remember certain information. By using the Application, you signify your consent to our use of cookies.

DISCLOSURES. We do not sell, rent, lease your Personal Information to anybody and will never do so. Keeping this in mind, we may disclose your Personal Information in the following cases:

Administrators: We shall provide access to your Personal information to our authorized administrative(s) for internal business purposes, who shall be under confidentiality obligations towards the same.
Affiliates: We may provide Personal Information we collect to our affiliates. For example, we may disclose Personal Information to our affiliates in order to respond to your requests for information or the Services, or to help limit your receipt of marketing materials you have requested not to receive.
Business Partners: We may use certain trusted third party companies and individuals to help us provide, analyze, and improve the Services including but not limited to data storage, maintenance services, database management, credit bureaus, rating agencies, web analytics, payment processing, and improvement of the Platform’s features. These third parties may have access to your information only for purposes of performing these tasks on our behalf and under obligations similar to those in this Privacy Policy. We may disclose your Personal Information to partners who perform business functions or hosting services on our behalf and who may be located outside Nigeria.
Service Providers: We may share your Personal Information with the service providers, including LENDER, who are working with us in connection with the operation of the Services or the Platform, so long as such service providers are subject to confidentiality restrictions consistent with this Privacy Policy.
Joint Marketing Arrangements: Where permitted by law, we may share your Personal Information with joint marketers with whom we have a marketing arrangement, including but not limited to other financial platforms, third-party credit platforms, relevant partners on analytics, information search or big data, collecting companies, anti-fraud companies, law firms, etc. we would require all such joint marketers to have written contracts with us that specify the appropriate use of your Personal Information, require them to safeguard your Personal Information, and prohibit them from making unauthorized or unlawful use of your Personal Information
Persons Who Acquire Our Assets or Business: If we sell or transfer any of our business or assets, certain Personal Information may be a part of that sale or transfer. In the event of such a sale or transfer, we will notify you.
Legal and Regulatory Authorities: We may be required to disclose your Personal Information due to legal or regulatory requirements. In such instances, we reserve the right to disclose your Personal Information as required in order to comply with our legal obligations, including but not limited to complying with court orders, warrants, or discovery requests. We may also disclose your Personal Information(a) to law enforcement officers or others; (b) to Credit Information Companies; (c) to comply with a judicial proceeding, court order, or legal process served on us or the Platform; (d) to enforce or apply this Privacy Policy or the Terms of Service or our other policies or Agreements; (e) for an insolvency proceeding involving all or part of the business or asset to which the information pertains; (f) respond to claims that any Personal Information violates the rights of third-parties; (g) or protect the rights, property, or personal safety of us, or the general public. You agree and acknowledge that we may not inform you prior to or after disclosures made according to this section.

Notwithstanding anything mentioned hereinabove, we shall not be responsible for the actions or omissions of the service providers or parties with whom the Personal Information is shared, nor shall we be responsible and/or liable for any additional information you may choose to provide directly to any service provider or any third party.

DATA RETENTION. We will retain your Personal Information for as long as your registration with us is valid and the Outstanding Amount(s) is due and payable to LENDER. We may also retain and use your Personal Information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. Subject to this section, we will try to delete your Personal Information upon reasonable written request for the same. Please note, however, that there might be latency in deleting Personal Information from our servers and backed-up versions might exist even after deletion.

INTERNATIONAL DATA TRANSFER. Information that we collect may be stored, processed in, and transferred between any of the countries in which we operate, in order to enable us to use the information in accordance with this policy. Any such information transferred to other countries shall be in compliance with the laws of corresponding countries.

SECURITY. We value your Personal Information, and protect it on the Platform against loss, misuse or alteration by taking extensive security measures. In order to protect your Personal Information, we have implemented adequate technology including but not limited to cloud data saving and will update these measures as new technology becomes available, as appropriate. Although we provide appropriate firewalls and protections, we cannot warrant the security of any Personal Information transmitted as our systems are not hack proof. Data pilferage due to unauthorized hacking, virus attacks, technical issues is possible and we take no liabilities or responsibilities for it.

You are responsible for all actions that take place under your User Account. If you choose to share your User Account details and password or any Personal Information with third parties, you are solely responsible for the same. If you lose control of your User Account, you may lose substantial control over your Personal Information and may be subject to legally binding actions.

ACCESSING AND MODIFYING PERSONAL INFORMATION. In case you need to access, review, and/or make changes to the Personal Information, you shall have to login to your User Account and change the requisite details. You shall keep your Personal Information updated to help us better serve you.

COMMUNICATIONS FROM THE PLATFORM

Special Offers and Updates: We may send you information on products, services, special deals, and a newsletter of ours. Out of respect for your privacy, we present you with the option of not receiving these types of communications. You may unsubscribe via the unsubscribe mechanism provided in each such communication or by emailing us at [email protected].
Service Announcements: On certain occasions or under law, we are required to send out Service or Platform related announcements. We respect your privacy, however you may not opt-out of these communications. These communications would not be promotional in nature.
Customer Service: We communicate with Customer(s) on a regular basis to provide requested services and in regards to issues relating to their User Account, we reply via email or phone, based on Customer(s) requirements and convenience

INDEMNIFICATION. You agree to indemnify us, our subsidiaries, affiliates, officers, agents, co-branders or other partners, and employees and hold us harmless from and against any claims and demand, including reasonable attorneys fees, made by any third party arising out of or relating to: (i) Personal Information and contents that you submit or share through the Platform; (ii) your violation of this Privacy Policy, (iii) or your violation of rights of another Customer(s).

LIMITATIONS OF LIABILITY. You expressly understand and agree that we, including our directors, officers, employees, representatives or the service provider, shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if we have been advised of the possibility of such damages), resulting from; (a) use or the inability to avail the Services (b) unauthorized access to or alteration of your Personal Information (c) inability to use the Platform (d) failure or delay in providing the Services or access to the Platform (e) any performance or non-performance by us (f) any damages to or viruses that may infect your electronic devices or other property as the result of your access to the Platform or your downloading of any content from the Platform and (g) server failure or otherwise or in any way relating to the Services.

LINKS TO OTHER WEBSITES AND APPS. Our Service may contain links to other websites and Apps that are not operated by Us. If You click on a third-party link, You will be directed to that third party’s site. We will not control over and will not assume responsibility for the content, privacy policies or practices of any third-party sites or services.

CHANGES TO THIS POLICY. We may update this Privacy Policy without notice to you. This Privacy Policy is effective upon publication and apply to all users. You are encouraged to check this Privacy Policy on a regular basis to be aware of the changes made to it. Continued use of the Services and access to the Platform shall be deemed to be your acceptance of this Privacy Policy.

This Privacy Policy was last modified on【March 3th】, 2022.

CONTACT US. If you have questions, concerns or grievances regarding this Privacy Policy, you can email us at our grievance email-address: [email protected].

By clicking the "Agree" button, you declare that you understand and agree to be bound by all laws and policies of your country, so this Privacy Policy has legal effect from the date of account opening.

Loan contract

Party A （Lender）:

FLOWOOD LENDING LIMITED

Part B （Borrower）:

In view of: This contract has been entered into by consensus of all parties and is hereby jointly performed.

Chapter 1 Loan Information and Interest Calculation Article 1 Loan Information

Age: Over 18 Loan amount: ₦ 1,000 - ₦ 500,000 Loan term: 91 days - 180 days Interest rate: Maximum APR is 35% per year, 0.09% per day Transaction fee：0 Service fee: No other fees For example: If you choose a loan limit of ₦ 1,000 with a period of 180 days, the daily interest rate is 0.09%. The total interest must be paid: ₦ 1,000* 0.09% * 180= ₦ 162 Monthly interest shall be paid: ₦ 1,000 * 0.09% * 30 = ₦ 27 Monthly repayment bill including principle and interest shall be paid: ₦ 1,000/6 + ₦ 27 = ₦ 193 Total repayment bill including principle and interest shall be paid: ₦ 1,000+ ₦ 162 = ₦ 1,162

Chapter 2 definition of nouns Article 2 In this contract, unless the context otherwise explains, the following terms have the following meanings:

(1) Lender: a company incorporated under the Companies Act 2013. (2) Borrower: a natural person, legal entity, or other organization, and voluntarily borrows money from Party A. (3) Personal Information: means information that can be used to identify the user's identity, address, and loan, including, but not limited to, ID card, voter identification card, bank account, online account, location, electronic communication, etc., or any other document that the lender accepts. (4) Effective Date of the Agreement: Indicate the time when the lender and the borrower execute this Agreement.

Article 3 Refund method

The borrower repays the full amount outstanding, including interest, principal, or any other charges/fees due at the end of the loan term.

Article 4 Interest start date

The Borrower will pay the Interest Rate mentioned in this agreement. Party A's loan funds will be transferred to Party B's collection account, and the date of successful transfer will be the interest calculation date, which will be subject to the successful timing of the wire transfer. The Borrower understands that the Interest Rate may change and the same shall be effective prospectively only.

Article 5 Refund

Party B will reimburse on the agreed reimbursement date in this contract. Since Party A receives all of the repayment, the loan relationship between Party A and Party B ends, and the timing of the payment reaching Party A's account may be affected by bank clearing and other factors.

Article 6 Refund Order

Reimbursement Order: Party B will repay the entire reimbursable amount in a lump sum on time. If Party B is unable to repay the lump sum amount due to Party B reasons, Party B may request a partial refund in advance from Party A, and the repayment order is the due penalty interest, service fee , the interest and the principal that must be paid.

Article 6 Refund Order

Article 7 Early Refund

The loan under the loan agreement can be repaid in advance. For loan items that can be repaid in advance, Party B may repay the loan principal and interest in advance on any business day during the normal loan period. In the case of prepayment, Party B will pay off the loan principal and interest on the prepayment in one lump sum. Prepayment charges interest in accordance with normal repayment, with no reduction in interest.

Chapter 3 Part A Right and obligation

Article 8

If Party B violates any term of this agreement, Party A shall have the right to terminate this Agreement and reclaim rights from Party B in accordance with this agreement.

Article 9

Party B irrevocably authorizes Party A to deduct the service fee from the loan.

Article 10

Party B will maintain a good credit history and credit investigation, and will fulfill the obligation to repay on time in accordance with the agreement.

Article 11

Party B guarantees to repay the full amount of the loan to the account designated by Party A on the final repayment date.

Article 12

During the validity period of this agreement, if Party B needs to borrow money or provide a guarantee for a third party outside of the agreement, it shall notify Party A in writing seven days in advance.

Article 13

Party B agrees and confirms that if Party B fails to pay interest on the loan or loan proceeds or fails to perform its obligations under this agreement, Party A has rights to the third party including, without limitation, Internet media, print media, television, credit system to disclose the borrower's photo, name, contact information, ID card number, overdue payment and other information. The Lender shall have the right to appoint and subcontract its activities under this agreement to one or more service providers for the purpose of collecting KYC information, Loan related documents, collection, servicing, etc. The Borrower understands and accepts that the services of said agents are essential for the effects and effective enjoyment of the Loan.

Article 14

Interest due / late payment. Failure to pay the outstanding Loan on the Maturity Date will be treated as a case of default and the Lender will be entitled to charge a Commission for Late Payment and Interest on the Loan at the rate mentioned in the Agreement. The Interest Rate, the Expired Interest and will be calculated in 365/366 days based on the actual days elapsed.

If Party B's repayment under this contract is due, Party B will pay penalty interest from the due date until the repayment. Penalty interest is calculated as follows: Total Penalty Interest = Principal Interest Overdue * Penalty Interest Rate * Days Overdue (Different days to maturity correspond to different penalty interest rates). The Borrower shall indemnify the Lender, its directors, employees and agents against all costs, losses and/or damages due to any act or default by the Borrower(s) in respect of the Loan and/or for the recovery of outstanding installments due to Borrower's breach of any of the terms and conditions hereof and/or for any action taken by Lender in good faith based on Borrower's representations.

Article 15

If the loan source provided by the lender is illegal, the lender will be considered to have breached the contract.

Chapter 4 Termination of a contract Article 16

In case of any of the following situations, Party A may terminate this agreement at any time: (1) Party B fails to meet the reimbursement obligations agreed to in this agreement. (2) Party B takes the initiative to evade, refuse to communicate, refuse to admit the fact of arrears, and other willful acts after the refund due date. (3) During the term of the agreement and before the payment due date, Party B is deemed unable to repay the loan based on Party A's reasonable assessment. (4) Party B fails to notify Party A on time within three days after providing false information, concealing important facts, or changing identification number, address, contact information, etc. (5) Party B borrows money from a third party or provides collateral to a third party other than this agreement, but fails to inform Party A in writing within seven days. (6) Any property of the borrower is seized, confiscated, expropriated, sealed, frozen and other adverse events that may affect the ability to travel, and the lender is not informed in writing or effective corrective measures are not provided in time.

Article 17

All parties under the contract confirm that the signing, entry into force and performance of this Agreement will not violate the applicable laws of The Federal Republic of Nigeria. If one or more clauses in this agreement violates applicable laws and regulations, such clause shall be deemed invalid, but such invalid clause shall not affect the validity of other clauses in this agreement.

Article 18

At the end of the term, if the principal, interest, penalty interest and all others payable on the outstanding loan under this agreement and its schedules are not paid, the relevant provisions of this agreement will continue to apply.

Chapter 5 Dispute Resolution Article 19

The signing, performance, dissolution and interpretation of this Agreement shall be governed by the applicable laws of The Federal Republic of Nigeria.

Article 20

Party A, Party B will perform this agreement in good faith on the principle of honesty and reliability. In case of dispute, it will be resolved through negotiation.

In the unlikely event of any dispute or difference arising between the parties as to the rights and obligations under this Agreement or as to any claim, monetary or otherwise, of one party against the other or as to the interpretation and effect of the terms and conditions. of this Agreement, such dispute or difference shall be referred to the Authorized Signatories of both Parties at the first level. In the event that such dispute or claim cannot be resolved by the parties within ninety (90) days after a party's written notice of the existence of such dispute or claim, such dispute shall be referred to Arbitration of one common Arbitrator if so agreed, otherwise to two or more Arbitrators, one to be appointed by each party to this Agreement and such Arbitrator to be governed by the provisions of the Arbitration and Conciliation Act 1996, as may be current and as amended from time to time. The language to be used in the arbitration proceedings will be English. The award rendered by the arbitrators shall be final and binding on both Parties and may be immediately enforced through any court of competent jurisdiction. Each Party shall bear its own expenses and attorneys' fees in connection with the arbitration. If the negotiation fails, the dispute will be settled by legal means.

Article 21

During litigation, each party shall comply with its rights and obligations under this Agreement, and each party shall not refuse to comply with its obligations under this Agreement for reasons of dispute resolution.