CEMES Ltd is a micro-credit organization that focuses on financial intermediation to the population at the bottom of the pyramid with a view of enhancing financial inclusion to support micro-businesses and strengthen community institutions as a way of fighting poverty.
These Terms and Conditions (the “Terms”) are entered into by and between:
Centenary Micro Enterprises Services Limited, company incorporated under the laws of the Republic of Kenya with a company registration number CPR-2015-216292 (hereinafter called the “CEMES” or” Lender” or “us” or “we”)
The Customer identified on the digital loan application form (as hereinafter defined) (the “Customer”, “you”
The "CEMES" brand name and logo are owned by CEMES. Rights reserved. This agreement ("Terms and Conditions") is a financial service and end-user licensing agreement between Customer and CEMES. It sets out the terms and conditions applicable to the Services.
Under these Terms and Conditions from time to time through the App or (as the context requires) the principal amount outstanding for the time being of that loan and includes any interest, fees and any monies due from you to CEMES.
“PIN” means personal identification number, a secret number used in electronic financial transactions and required to access the System and complete a transaction.
Definitions
For the purposes of these Terms and
Conditions:
“Account” means the account with
CEMES opened and operated in
accordance with these Terms and
Conditions and in which your Loan
will be placed.
“App” means our mobile, USSD or
web-based loan applications
“Credentials” means your personal
credentials used to access the App
and operate your Account.
“Credit Reference Bureau” means a
credit reference bureau duly licensed
by the Central Bank of Kenya, to
among other things, collect and
facilitate the sharing of customer
credit information.
“Data Protection Act” means the
Data Protection Act, 2019 which
makes provision for the regulation of
the processing of personal data and
provides for the rights of data subjects
and obligations of data controllers
and processors.
“Loan” means the principal amount
of the loan, in such amount as
CEMES may determine in its absolute
discretion, made or to be made by
CEMES to you basis on which any personal data we
collect from you, or personal data that
you provide to us, will be processed
and used by us.
“SMS” means a short message service
consisting of a text message
transmitted from your mobile phone
to another.
Interpretation
Unless the context requires otherwise
in these Terms and Conditions: the
singular shall include the plural and
vice versa. clause headings shall not affect the interpretation of these
Terms and Conditions.
Before downloading or
streaming the App or opening
an Account via the System,
read and understand these
Terms and Conditions, which
govern the App and Account.
If you disagree with these
Terms and Conditions, please
click "Reject" in the System or
do not download, install, or
apply. Otherwise, you are
deemed to have read,
comprehended, and agreed to
these conditions.
The continuing use of the
Services or the Account
constitutes your affirmative
agreement to be bound by any
such alteration or variation.
We'll notify you of any changes
and post any additions to
these Terms and Conditions,
together with the date of
publication and any applicable
amendment. This may affect
the terms of any new loan you
obtain.
Updates to the Terms and
Conditions or App may be sent by app notification or SMS.
You may not be able to use the
Services until you've
downloaded or streamed the
latest version of the App and
accepted any amended Terms
and Conditions, if applicable.
You can reject the modified
TOS. You won't be able to
access the Services if you
reject the amended terms.
If you use the Services, you
consent to CEMES (and its
affiliates and licensees)
transmitting, collecting,
sharing, disclosing, retaining,
maintaining, processing, and
using your data for credit
scoring services or to improve
our Services or your App
experience. Your data will be
processed according to these
Terms and Conditions, the
Data Protection Act, the
Privacy Policy, and any other
applicable laws and
regulations.
CEMES maintains the right to
decline your application, any
new application for the
Services, or to revoke a
granted application at any
point without giving you
notice.
Your loan application will be
evaluated based on CEMES's
criteria, including your credit
profile and determine your
Loan limit.
CEMES will credit your Mobile
Money Account with the
amount you requested, if your
Loan application is approved.
Unless otherwise instructed by
CEMES, you should make all
Loan-related payments
through the Mobile Money
Service and System
Personal and Relevant information
You authorize CEMES to
verify any information you
provide against the
information held by Mobile
Money Services Providers
in relation to your Mobile Money Account pursuant
to the agreement between
you and the relevant
Mobile Money Services
Provider for the provision
of its products and
services and the Mobile
Money Services.
The information that
CEMES may verify against
the information held by
Mobile Money Service
Providers, the Integrated
Population Registration
System (“IPRS”), or other
authority or person
includes (without
limitation): your phone
number, name, date of
birth, national
identification number
(“ID”) or passport number
and such other
information that will
enable us to identify you
and comply with the
“Know Your Customer”
requirements.
You hereby consent to
CEMES:
To verify Personal
Information and Relevant
Information with Mobile
Money Service Providers
and uses it as needed.
To contact you at
reasonable time to verify
your details, ask for
further information or
clarification.
To collect your credit
information from Credit
Reference Bureaus and
consent to their
disclosure, exchange, and
transmission of such
Personal Information.
To disclosure, exchange,
or transmit your Personal
Information to third
parties involved in your
Account's administration,
support, or risk
management. These
organizations may include
but are not limited to debt collection agencies, cloud
computing platforms and
server providers, CEMES
parent holding company,
or user support service
providers.
All payments you make under
these terms are computed
without tax. If taxes are due,
you must pay CEMES the sum
multiplied by the tax rate. You
must do so upon paying.
You agree that CEMES may
withhold money from your
Account if a tax authority
requests it, if CEMES is
compelled by law or by an
agreement with a tax authority
to do so, or if CEMES needs to
comply with internal policies
or a tax authority's order or
consequence
Fail to pay a Loan amount
when due unless an
administrative error or
technological difficulty caused
the failure.
Are subject of a bankruptcy
petition or order.
Die or are permanently
incapacitated.
Aare accused or convicted of
unlawful, money-laundering,
or corrupt activities
Violation of any other term,
condition, or covenant; or
CEMES may, if an Event of
Default has occurred and/or is
ongoing, without prejudice to
any other legal right or
remedy:
Terminate these Terms and
Conditions and close your
Account.
declare that the Loan and all
accrued interest, charges and
all other amounts outstanding
under these Terms and
Conditions are immediately
due and payable, whereupon
they shall become immediately
due and payable; and
Supply information concerning
the Event of Default to Credit
Reference Bureaus. A copy of
any adverse information
concerning you sent to a
Credit Reference Bureau shall
be made available to you upon
written request.
We may, with notice to you, cancel or alter our business relationship with you, close your Account, and request repayment of outstanding obligations and credits within a time wedetermine in our sole discretion:
if you use the Account
for unauthorized or unlawful
purposes or where we detect
any abuse/misuse, breach of
content, fraud or attempted fraud relating to your use of
the Services.
if we are required or
requested to comply with an
order or instruction of or a
recommendation from the
government, court, regulator
or other competent authority.
if we suspect you are in
breach of these Terms and
Conditions and you fail to
rectify (if remediable) within 14
days after notice by email,
SMS, or other electronic
means asking you to do so.
where such a
suspension or variation is
necessary as a consequence of
technical problems or for
reasons of safety.
to facilitate update or
upgrade the contents or
functionality of the Services
from time to time.
if we decide to suspend
or cease the provision of the
Services for commercial
reasons or for any other
reason as we may determine in
our absolute discretion; or
if you breach any of the
License Restrictions or the
Acceptable Use Restrictions.
Termination shall not
affect any accrued rights and
liabilities of either you or
CEMES.
If CEMES gets notice of
your demise, it will not
authorize any operation or
withdrawal from your Account
until your legal representatives
or executors of your estate
produce a documented grant
of letters of administration or
probate.
CEMES is not
responsible for any loss you
suffer if the Services are
interfered with or unavailable
due to the failure of your
Equipment or any other
circumstances beyond
CEMES's control, including,
but not limited to, Force Majeure or error, interruption,
system downtime delay or
non-availability of the System,
terrorist or enemy action,
equipment failure, loss of
power, adverse weather, or
atmospheric conditions, and
fail.
If our services are
interrupted or unavailable, our
sole duty under these Terms
and Conditions is to restore
them as quickly as possible.
We are not liable for any
loss of profit, expected savings,
indirect or consequential loss
or damage of any kind,
howsoever caused, arising out
of or in connection with the
Services, even if the likelihood
of such loss or damage is
informed to us.
All warranties and
obligations implied by law are
hereby excluded to the fullest
extent permitted by law.
You absolve CEMES from all liability for loss or damage you may sustain from CEMES acting on your instructions or requests per these Terms and Conditions. The indemnity shall also cover the following:
all demands, claims,
actions, losses, and damages
of any kind that may be
brought against CEMES or
that it may suffer or incur as a
result of its acting or failing to
act on any request or as a
result of the malfunction or
failure or unavailability of any
hardware, software, or
equipment, the loss or
destruction of any data, power
failures, corruption of storage
media, natural phenomena,
riots, vandalism, sabotage,
terrorism, or any other event
beyond CEMES's control;
12.2. any loss or damage
resulting from your use,
misuse, abuse, or possession
of third-party software,
including operating systems,
browser software, or other
software packages or
programs.
any unauthorized access
to your Account, any breach of
security, any destruction or
unauthorized access to your
data, or any destruction, theft,
or damage to any of your
Equipment.
any loss or damage
caused by your failure to
comply with these Terms and
Conditions and/or providing
incorrect information, or by
the failure or unavailability of
third-party facilities or
systems, or the inability of a
third party to process a
transaction or any loss
incurred by CEMES because of
any breach of these Terms and
Conditions; and
any CEMES losses and
costs incurred because of loss
claims caused by you.
If you want to contact us
in writing, or if any of these
Terms and Conditions require
you to give us notice, please
send it to info@cemesltd.co.ke
or Attention: Customer Care
Manager, CEMES LIMITED,
Post Box Office Number 1164-
00502, Nairobi, Kenya, or to
such email or postal address
as we may communicate to
you from time to time. We'll
send you an email to confirm
receipt within 72 hours.
You acknowledge that
you have no recourse against
CEMES for any losses, delays,
misunderstandings,
mutilations, duplications, or
other abnormalities in Account
communication or notification.
Unless otherwise stated
in these Terms and
Conditions, the rights and
remedies granted are in
addition to any legal rights
and remedies.
No failure on the part of
any party to exercise, or delay
on its part in exercising, any
right, power or remedy
provided by these Terms and
Conditions or by law shall
operate as a waiver thereof,
nor shall any single or partial
exercise of any such right,
power or remedy preclude any
further or other exercise of
that, or any other, right, power
or remedy.
No failure by CEMES to
exercise, and no delay in
exercising, any right or remedy
in respect of any provision of
these Terms and Conditions
shall operate as a waiver of
such right or remedy.
If any provision or
portion of a provision of these
Terms and Conditions is found
to be invalid or unenforceable,
the other provisions or
portions of such provisions
shall remain in full force and
effect.
These Terms and
Conditions, as well as any
rights or liabilities arising from
them, may not be assigned.
You agree that we may cede,
novate, assign, factor,
securitize, encumber, and/or
transfer all or a portion of our
rights and/or obligations
under these Terms and
Conditions without your
permission or notice.
In these Terms and
Conditions, if a dispute, claim,
controversy, difference,
question, or otherwise
(“Dispute”) arises between us,
we will attempt in good faith to
negotiate a settlement within
thirty (30) days of either of us
notifying the other of the
Dispute.
If we reach a settlement,
it will be written and binding
once signed by our authorized
representatives.
If the Dispute between
the Parties is not settled
through bona fide
conversations or agreed upon,
it will be referred to the courts
of Kenya.
Unless these Terms and
Conditions have been
repudiated or cancelled, we
will continue to carry out their
obligations in accordance with
these Terms and Conditions.
These Terms and Conditions shall be governed by and construed in accordance with the laws of Kenya.