Terms of Use

Preface

These Terms of Use constitute a binding agreement between you, the end-user, and ERIC VSTA LIMITED ("the Company"), governing your use of the mobile application and related financial services provided by the Company.

You are required to carefully review all provisions contained herein before using the application or any of its services. By clicking "Continue" after downloading the application, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use in their entirety.

The Company reserves the right to amend, modify, or update these Terms at any time. Users will be provided with at least 7 days' notice prior to any changes taking effect. Continued use of the application after such notice constitutes acceptance of the revised Terms.

1.8 Definitions

Account

The personal account created and maintained by a user on the platform.

App/Platform

The mobile application and associated digital platform operated by the Company.

Business Day

Any day other than a Saturday, Sunday, or public holiday in Nigeria on which banks are open for business.

Credentials

The login details, passwords, PINs, and other authentication information used to access the Account.

Credit Reference Bureau

Any licensed bureau that collects and maintains credit information on borrowers, including CreditRegistry, XDS, and CRC.

Equipment

Any device, hardware, or software used by the user to access the App or Services.

Force Majeure

Any event beyond the reasonable control of the Company, including but not limited to natural disasters, acts of government, war, civil unrest, power failures, or internet disruptions.

Loan

Any credit facility extended to the user through the platform.

Network

The telecommunications and internet infrastructure through which the Services are delivered.

Payment System Provider

Any third-party provider that facilitates payment processing on behalf of the Company.

Privacy Policy

The Company's privacy policy, which governs the collection, use, and protection of personal data.

Request

Any instruction or application submitted by a user through the platform.

Services

All products, features, and functionalities made available through the App.

SMS

Short Message Service communications sent to or from users in connection with the Services.

System

The technology infrastructure, servers, and software that power the App and Services.

Third Party Partners

External service providers, vendors, or partners that integrate with or support the Services.

Transaction Fees

Any charges, costs, or fees associated with the use of the Services or processing of Loans.

The Services

The Company provides the following services through the App:

• Personal Loan Assistant — Facilitates the application and management of personal loans.
• Credit Line Checking — Allows users to check their available credit lines and eligibility.
• Loan Calculator — Enables users to estimate repayment amounts, interest, and loan terms.

The Company grants you a non-exclusive, limited, revocable license to use the App and Services for personal, non-commercial purposes, subject to these Terms. You must download the App only through authorized channels (official app stores or the Company's website).

The Company reserves the right to modify, upgrade, suspend, or discontinue any aspect of the Services at any time without prior notice.

You agree not to reverse-engineer, decompile, disassemble, or create derivative works based on the App or any part of the Services. Any unauthorized use may result in immediate termination of your access.

The Services are intended solely for persons over the age of 18 who are legally resident in Nigeria.

Your Account

To access the Services, you must register an account through the platform. During registration, you are required to submit truthful, accurate, and complete information. Any misrepresentation may result in the suspension or termination of your account.

Facial recognition and biometric verification may be required as part of the registration or identity verification process.

The Company retains ownership of all accounts created on the platform. Your account is personal to you and may not be transferred, assigned, or shared with any third party.

You are responsible for maintaining the confidentiality and security of your Credentials. You must not disclose your login details to any person. Account recovery options are available through the platform in the event you lose access to your Credentials.

You bear full liability for all actions, transactions, and activities carried out through your account, whether or not authorized by you.

Access to and Use of Services

You must comply with these Terms, all applicable laws, and regulations when using the Services. You agree to satisfy all Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements as may be required by the Company or applicable law.

As part of the KYC process, you may be required to provide the following information: full legal name, date of birth, Bank Verification Number (BVN), residential address, and a valid government-issued identification document.

The information you provide may be verified against third-party databases and services, including but not limited to Okra, Dojah, CreditRegistry, XDS, CRC, Paystack, and Monnify. By using the Services, you authorize the Company to conduct such verification.

You authorize the collection and processing of your biometric data, including facial recognition data, for the purposes of identity verification, fraud prevention, and account security.

You agree to indemnify and hold harmless ERIC VSTA LIMITED from any claims, damages, losses, or expenses arising from your use of the Services or breach of these Terms.

Obtaining Loans

Loan applications are submitted through the App. The Company has sole and absolute discretion to approve or decline any loan application. No reason is required for any decision to decline a loan.

Before confirming a loan, the full details of the loan — including principal amount, interest rate, repayment schedule, and applicable fees — will be displayed to you for review. By confirming, you agree to the loan terms as presented.

The Company may conduct assessments through Credit Reference Bureaus to evaluate your creditworthiness prior to approving a loan.

As a borrower, you are obligated to repay all loans on time and in accordance with the agreed terms. Loan proceeds must not be used to fund any illegal activities.

All applicable interest rates and fees are disclosed in your Order History within the App.

Default interest may be applied to overdue amounts in addition to any other charges specified in the loan agreement.

Default on Loan

A default event shall occur if you:

• Fail to make any payment when due under the loan agreement;
• Provide incorrect, false, or misleading information in connection with your account or loan application;
• Become bankrupt or insolvent;
• Breach any provision of these Terms.

Upon the occurrence of a default event, the Company may, at its discretion:

• Terminate your access to the Services;
• Declare all outstanding loans immediately due and payable;
• Report your default to Credit Reference Bureaus;
• Assign or refer your outstanding debt to third-party collection agencies;
• Institute legal proceedings against you to recover all amounts owed.

Set Off

The Company reserves the right to report delinquent loans to the Central Bank of Nigeria (CBN) and to request a set-off from all bank accounts held by you in any financial institution in Nigeria, in accordance with applicable laws and regulations.

Third-Party Applications

The Services may integrate with or provide access to third-party applications, platforms, or services. The Company is not responsible or liable for the availability, accuracy, content, or practices of any third-party services.

You are encouraged to review and understand the terms and conditions and privacy policies of any third-party services before using them. Your use of third-party services is at your own risk.

Breach and Indemnity

The Company may suspend or terminate your access to the Services at any time if it reasonably believes you have breached any provision of these Terms, or if your continued use poses a risk to the Company, its partners, or other users.

You agree to fully indemnify and hold harmless ERIC VSTA LIMITED, its directors, officers, employees, and agents from and against all claims, demands, actions, damages, losses, costs, and expenses (including legal fees) arising from or in connection with your breach of these Terms or your use of the Services.

Limitation of Liability

To the fullest extent permitted by law, the Company shall not be liable for any loss, damage, or inconvenience arising from Force Majeure events, system errors, network failures, or equipment malfunctions.

The App and Services are provided for domestic, private, and SME financing purposes. The Company shall not be liable for any loss of profits, revenue, business, or anticipated savings, nor for any indirect, incidental, special, or consequential losses arising from the use or inability to use the Services.

In any event, the Company's total liability to you in respect of all claims shall not exceed the total amounts paid by you to the Company in the 12 months immediately preceding the event giving rise to the claim.

User's Responsibilities

• Maintain your Equipment in good working condition and ensure compatibility with the App.
• Follow all instructions and guidelines provided by the Company in connection with the Services.
• Keep your Credentials secure and confidential at all times.
• Take all reasonable steps to prevent unauthorized access to or use of your account.
• Never operate or use the Services in a manner that is prejudicial to the Company, its partners, or other users.

Variation and Termination

The Company reserves the right to terminate or vary any business relationship with you at any time, with or without cause, upon reasonable notice.

Termination of your account or access to the Services shall not affect any rights, obligations, or liabilities that have accrued prior to the date of termination, including any outstanding loan repayment obligations.

Miscellaneous

These Terms constitute the entire agreement between you and the Company with respect to your use of the App and Services, and supersede all prior or contemporaneous agreements, understandings, or representations.

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

The courts of Nigeria shall have exclusive jurisdiction to settle any disputes arising out of or in connection with these Terms.