CrustCash Loan Agreement

This Loan Agreement (hereinafter referred to as the “Agreement”) is entered into by and between the Borrower and the Lender through the CrustCash mobile application.

By submitting a loan application via the CrustCash App, you confirm that you have carefully read, fully understood, and voluntarily agreed to all the terms and conditions set forth in this Agreement.

CRUST DEW LIMITED is a duly registered company operating in Nigeria. The company provides digital financial services in accordance with applicable Nigerian laws and regulations and operates under the oversight of the Federal Competition & Consumer Protection Commission (FCCPC). CrustCash is a mobile application developed and operated by CRUST DEW LIMITED to deliver these services to eligible users.

CRUST DEW LIMITED is committed to complying with the Nigeria Data Protection Regulation (NDPR) and applicable international privacy standards. CrustCash (the “App”) and its related services are developed, owned, and operated by CRUST DEW LIMITED to provide eligible users with lawful, transparent, and responsible access to digital financial and loan-related services.

1. Definitions and Parties

1.1 Lender (Party A)

The Lender refers to:

• Company Name: CRUST DEW LIMITED
• D-U-N-S Number: 982850271
• Registered Address: 6-8 Ogunnisi Road, Omole Lagos, NIGERIA
• Official Website: https://www.crustcash.store/
• Customer Support Email: contact@crustcash.store
• Customer Service Phone: +234 7046543930

CRUST DEW LIMITED operates the CrustCash digital lending platform and provides consumer lending services in compliance with applicable Nigerian laws and regulatory requirements, including oversight by the Federal Competition & Consumer Protection Commission (FCCPC).

1.2 Borrower (Party B)

The Borrower refers to any natural person who registers on the CrustCash App, submits a loan application, and receives loan approval.

The Borrower must meet the following conditions:

1. Be a lawful resident of the Federal Republic of Nigeria;
2. Be at least 18 years of age;
3. Have full legal capacity to enter into binding contracts;
4. Ensure that all information provided is true, accurate, complete, and lawful.

2. Legal and Regulatory Compliance

This Agreement is governed by and complies with, including but not limited to:

• Nigerian consumer lending and interest rate regulations;
• Nigerian Data Protection Act (NDPA);
• FCCPC Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending (2022);
• Other applicable laws and regulations of the Federal Republic of Nigeria.

The Lender is committed to safeguarding the Borrower’s legal rights and personal privacy.

3. Loan Products and Terms

3.1 Loan Amount

The loan amount offered ranges from ₦5,000 to ₦300,000, subject to credit assessment and approval.

3.2 Loan Tenure

Loan duration ranges from 91 days to 365 days, depending on the approved loan product.

3.3 Interest Rate

The Annual Percentage Rate (APR) ranges between 10% and 36%, determined by the Borrower’s credit profile and risk evaluation.

3.4 Fees

The Lender may charge service, management, or operational fees where applicable.

All fees will be clearly disclosed before the Borrower confirms the loan.

3.5 Illustrative Example (For Reference Only)

• Loan Amount: ₦50,000
• Loan Term: 120 days
• APR: 36%
• Total Interest: ₦6,000
• Total Repayment Amount: ₦56,000
• Periodic Repayment: ₦14,000

Actual terms may vary based on individual approval results.

4. Borrower Responsibilities

The Borrower agrees to:

1. Submit truthful, accurate, and complete personal and financial information;
2. Repay the loan principal, interest, and all applicable fees in full and on time;
3. Maintain valid contact information and promptly notify the Lender of any changes;
4. Authorize the Lender to access credit-related information for risk assessment purposes;
5. Accept lawful reminder and recovery measures in case of overdue repayment, including phone calls, SMS, emails, and lawful reporting to credit bureaus.

5. Lender Obligations

The Lender undertakes to:

1. Disburse approved loan funds in accordance with this Agreement;
2. Provide clear and transparent loan terms and repayment schedules;
3. Protect the Borrower’s personal data in compliance with Nigerian data protection laws;
4. Conduct debt collection activities in a fair, lawful, and non-abusive manner, in line with FCCPC requirements.

6. Late Payment and Default

6.1 Late Payment Fee

In the event of late repayment, a late fee of 0.1% per day on the outstanding principal may be charged from the due date until repayment is completed.

6.2 Default

If repayment is overdue for more than 30 days, the Lender reserves the right to:

• Report the default to recognized Nigerian credit bureaus;
• Initiate lawful recovery actions;
• Seek legal remedies through competent courts.

All reasonable costs arising from recovery or enforcement shall be borne by the Borrower as permitted by law.

7. Early Repayment

The Borrower may repay part or all of the outstanding loan amount ahead of schedule without any prepayment penalty, unless otherwise required by law.

8. Loan Extension

If the Borrower anticipates difficulty in repaying on the due date, a loan extension request may be submitted at least three (3) business days in advance.

Approval is at the Lender’s discretion and may involve additional interest or service charges.

9. Amendment of Agreement

The Lender may update or modify this Agreement due to changes in applicable laws, regulations, or business policies.

Any material changes will be communicated to the Borrower via in-app notifications, email, or other reasonable means before taking effect.

10. Termination

The Lender may terminate this Agreement if:

1. The Borrower provides false or misleading information;
2. The Borrower seriously breaches repayment obligations;
3. The Borrower’s creditworthiness materially deteriorates.

Termination does not relieve the Borrower of the obligation to repay all outstanding amounts, interest, and fees.

11. Dispute Resolution and Governing Law

This Agreement shall be governed by the laws of the Federal Republic of Nigeria.

Any dispute arising from this Agreement shall first be resolved through amicable negotiation.

If unresolved, the dispute shall be submitted to a court of competent jurisdiction in Lagos State, Nigeria.

12. Personal Data Protection

The Lender strictly adheres to the Nigerian Data Protection Act (NDPA) and FCCPC data protection requirements.

• Borrower data is used solely for loan processing, risk management, repayment administration, and legal compliance;
• Personal data will not be disclosed to unrelated third parties without lawful basis or consent;
• Borrowers have the right to access, correct, or request deletion of their personal data in accordance with applicable laws.

Effective Date: The date on which the Borrower accepts this Agreement through the CrustCash App.