Privacy Policy“Loan” (s) refers to the client’s sum of money that is owed from the bank/institute. The loan includes all types of products that the bank/institute offers to its clients. “Repayment” means the installation about that is either needs to be paid or already paid to the bank/institute. “History” means the payment schedule of the loan availed. “E-Credit” is the mobile/web service that SSF offers to its clients. The E-Credit provides fastest and the Most Convenient method of availing the loan and making your payments. “SSF” refers to SAFCO support Foundation. “Verge Systems” refers to Verge Systems Private Limited. The company that owns this mobile application. "Personal Information" refers to the information provided by the Client to SSF. "SMS" means short message service which includes the storage, routing, and delivery of alphanumeric messages over GSM or other telecommunication systems. "Terms" refer to terms and conditions herein for use of the E-credit application Service. “OTP” means a six (06) digit one-time password, used for security verification. |
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The Application: SAFCO E-Credit application is designed to facilitate the Applicability of Terms: These Terms form the contract between the Client and SSF for E-Credit Application. By registering for E-Credit Application for the first time, the Client acknowledges and accepts these Terms. These terms and conditions are in addition to those which are agreed by the Client along with the Loan Application form. Minimum and maximum periods for the repayments Minimum = 3 months Maximum =24 months APR = 40% Loan Terms 6-24 Months E-Credit Application: The E-Credit Application can only be used by registered device that has WIFI or GPRS service enabled. The application will ask clients to share their location if they would like to have location based features enabled. E-Credit application: Client ensures that he/she would keep the password safe and confidential. The client will not share the password any other person nor it will share its personal mobile device to any other person while he/she is using the application. By agreeing to these terms and conditions the client agrees and acknowledges that SSF shall in no way be held responsible or liable for any loss, expenses, costs, damages, claims (including claims from any third party) because of the use of E-credit application by the client not shall SSF be liable for information being disclosed with the client’s consent pursuant to the access of the e-credit application and the client shall fully indemnify and hold SSF harmless in respect of the above. The client shall maintain the secrecy of all information of confidential nature and shall ensure that the same is not disclosed to any person voluntarily, accidentally or by mistake. The Client accepts and undertakes that it is his/her responsibility to ensure that the security of the Client’s mobile device and details of beneficiaries or transactions or any other relevant information registered by the Client are not compromised. The Client undertakes not to hold SSF liable or responsible for any loss or damage that may be suffered by the Client due to transactions through the e-credit application and shall keep SSF indemnified against all such losses or damages. OTP Service: OTP is used for security verification where clients are required to key in a six (6) digit code when making online transactions/operating SSF e-credit application. The OTP will be sent via short messaging system (SMS)/e-mail to client’s registered mobile number/e-mail address with SSF. Client will receive OTP via SMS/e-mail; when abroad if the registered mobile phone number is on roaming mode at client’s own cost of prevailing telecom charges or any fee imposed by respective mobile phone service provider or any other party, provided telecom supports and provides such international SMS on roaming facilities. Please acknowledge that the delivery of the OTP may be delayed or prevented by factor(s) outside the SSF’s control. SSF shall not be liable for any loss, damage, expenses, fees, costs (including legal costs on a full indemnity basis) that may arise, directly or indirectly, in whole or in part, from: The non-delivery, the delayed delivery, or the misdirected delivery of the OTP The non-receipt of the OTP Inaccurate or incomplete content in the OTP Reliance on or use of the information provided in the OTP. Misuse of OTP Unauthorized Access: The Client shall take all necessary precautions to prevent unauthorized and illegal use of E-credit application and unauthorized access to his/her accounts accessed through E-credit application by preventing the sharing of information or password. The Client will be required to change his password on a frequent basis. The Client understands and acknowledges that SSF shall not be responsible for any consequences arising out of download of the E-credit application by the client from any third-party application store which is not in SSF’s control. Repayments through Third-Party applications: The Client is facilitated to make the loan repayments through third party payment integrations such as Jazz Cash, Easy Paisa and other. The client will integrate the payment gateways on its own risk and confirmation; SSF will not be responsible in case of any loss in client’s payment accounts. Funds Transfer through E-credit application SSF shall use its best efforts to effect funds transfer transaction received through E-credit application subject to availability of sufficient funds in the Account and subject to any laws of Pakistan, in force at the time. SSF shall specify and update from time to time the limit for carrying out the various kinds of funds transfer or bill payment facilities available to the Client through E-credit application. The said facility/ies will be provided in accordance with the arrangement between SSF and the Clients and as per conditions specified by SSF from time to time. SSF shall not be liable for any omission to make all or any of the payments or for late payments for whatsoever cause howsoever arising. Accuracy of Information The Client is responsible for the correctness and accuracy of any information supplied to SSF by the Client for use of E-credit application. SSF accepts no liability for any consequences whether arising out of erroneous information or the accuracy, reliability or completeness of information supplied by the Client or otherwise. If the Client notices an error in the information supplied to SSF either in the registration form or any other communication, he shall immediately imitate to SSF in writing Instructions : All instructions for operating E-credit application shall be given through the Internet by the Client in the manner indicated by SSF. The Client shall be solely responsible for the accuracy and authenticity of the Payment Instruction provided to SSF and/or the Affiliates and the same shall be considered to be sufficient to operate / use the E-credit application. SSF shall not be required to independently verify the Payment Instruction; an instruction is effective unless countermanded by further instructions. SSF shall have no liability if it does not or is unable to stop or prevent the implementation of any instruction. Where SSF considers the instructions to be inconsistent or contradictory it may seek clarification from the Client before acting on any instruction of the Client or act upon any such instruction as it deems fit. SSF may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction and have the right to suspend the operations through the E-credit application if it has reason to believe that the Client\'s instructions will lead or expose to direct or indirect loss or may require an indemnity from the Client before continuing to operate / use the E-credit application. In pursuit to comply with applicable laws and regulations SSF may intercept and investigate any payment messages and other information or communications sent to or by the Client or on the Client’s behalf through other bank. This process may involve making future inquiries. The Client shall be free to give Payment Instruction for transfer of funds for such purpose as he/she shall deem fit. The Client however agrees not to use or permit the Payment Instruction or any related services for any illegal or improper purposes. For this, the Client ensures that: : He/she has full right, power and/or authority to access and avail the services obtained and the goods purchased and shall observe and comply with all applicable laws and regulations in each jurisdiction in applicable territories. He/she shall provide SSF such information and/or assistance as is required by SSF for the performance of the services and/or any other obligations of SSF under these Terms. He/she shall not at any time provide to any person, with any details of the accounts held by him/her with SSF including, the passwords, account number, card numbers and PIN which may be assigned to him/her by SSF from time to time. He/she shall have access to and use the E-credit application from a secure mobile device and that any compromise of the Client Account resulting from an attempt to access it from an unsecure / compromised device, will be the sole responsibility of the Client. Risks : The Client hereby acknowledges that he/she utilizes E-credit application Services at his/her own risk. These risks may include, but not limited to, the following: The Client acknowledges that in case any third person obtains access to the Account, relevant information, and the registered device, such third person would be able to instruct fund transfers and provide Payment Instructions. The Internet is susceptible to a number of frauds, misuse, hacking and other actions that could affect Payment Instructions to SSF. Whilst SSF shall aim to provide security to prevent the same, there cannot be any guarantee from such Internet frauds, hacking and other actions that could affect Payment Instructions to SSF. The Client separately indemnifies SSF against all risks arising out of the same. The transfer of funds to third party accounts shall require proper, accurate and complete details. The Client shall be required to fill in the account number of the person to whom the funds are to be transferred. In the event of any inaccuracy in this regard, the funds may be transferred to incorrect accounts. In such an event SSF shall not be liable for any loss or damage caused. The transaction(s) for transfer of funds as per Client\'s instruction may not be completed for some reasons. In such cases, the Client shall not hold SSF responsible in any manner whatsoever in the said transaction(s) and contracts and the Client\'s sole recourse in this regard shall be with the beneficiary of the transaction. The technology for enabling the transfer of funds and other services offered by SSF could be affected by virus or other malicious, destructive, or corrupting code, program, or macro. It may also be possible that the system may require maintenance and during such time it may not be able to process the request of the Client. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. The Client understands that SSF disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by SSF to honor any Client instruction for whatsoever reason. The Client understands and accepts that SSF shall not be responsible for any of the aforesaid risks and SSF shall disclaim all liability in respect of the said risks. Authority to SSF for E-credit application : The Client irrevocably and unconditionally authorizes SSF to access all his Account(s) for effecting banking or other transactions performed by the Client through the E-credit application. The right to access shall also include the right at SSF\'s sole discretion to consolidate or merge any or all accounts of the Client with SSF and the right to set off any amounts owing to SSF without prior notice. The instructions of the Client shall be effected only after authentication of the Client in accordance with the prescribed procedure for E-credit application by SSF or any one authorized by SSF. . SSF shall have no obligation to verify the authenticity of any transaction received from the User other than by Login/Password. The email confirmation, if any, that is received by the Client at the time of operation of the E-credit application by the Client shall be accepted as conclusive and binding for all purposes. All the records of SSF generated by the transactions arising out of the use of the E-credit application, including the time the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transaction. While SSF and the Affiliates shall endeavor to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. Liability of the Client: Neither SSF nor the Affiliates shall be liable for any unauthorized transactions occurring through E-credit application and the Client hereby fully indemnifies and holds SSF and its Affiliates harmless against any action, suit, proceeding initiated against it or any loss, costs or damages incurred by the Client as a result thereof. SSF shall under no circumstance be held liable to the Client if the E-credit application is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of SSF. Under no circumstances shall SSF be liable for any damages whatsoever, whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the Client or by any other person. The client is liable to keep his phone and access to the app secure and therefore do not jailbreak or root his phone, which is the process of removing software restrictions and limitations imposed by the official operating system of the device. Such activity can make the phone vulnerable to malware/viruses/malicious programs, compromise your phone’s security features and it could mean that the SSF E-credit application won’t work properly or at all. Illegal or improper use of the E-credit application shall render the Client liable for payment of financial charges as decided by SSF at its sole discretion and/or will result in suspension of the Client\'s operations through E-credit application. The client undertakes to comply with all applicable laws and regulations governing the account of the Client. For the avoidance of doubt, the governing law is the substantive and procedural laws of the Islamic Republic of Pakistan. The Client may use E-credit application to direct SSF to provide the Client with Account Information through Email or SMS from time to time to be sent directly to his/her registered email address or mobile number (which will be identified in writing prior to any directions to SSF by the Client). The format and extent of information to be provided by way of Alerts to the Client shall be determined by SSF. The frequency of the Alerts to be provided to the Client will be determined by the Client in accordance with the options provided by SSF. SSF shall under no circumstances whatsoever, be held responsible or liable by the Client for any delay in delivery of the Alerts nor the inaccuracy of the information contained in such Alerts sent to the Client by SSF. SSF shall not be liable for the incorrect delivery of, nor for its inability to deliver the Alerts altogether. Protecting against unauthorized logins: The E-credit application allows the client to optionally use the fingerprints he has stored on his/her device to logon to the banking services. Once the client has nominated how he/she will logon, he/she will not be necessarily required to enter his Login ID and Password into the App. He/she will only be required to use Biometric verification to logon. Where the client has opted to enable Biometric Login, any of the fingerprints he/she has stored on his Device can logon and can authorize any transactions in application services. Client should ensure that only his/her fingerprint/s are stored on his/her device. When he/she logs on using Biometric Login, he/she instructs SSF to perform the transactions. He/she can delete any of the fingerprints he/she has stored on his/her device at any time by going into his/her device settings. We also recommend that he/she setup a Passcode on his/her device by themselves, to prevent unauthorized access to his/her device and the Application. Protecting against unauthorized transactions: The Client agrees that he/she will not leave the device unattended and leave logged into the Application. Lock his Device or take other steps necessary to stop unauthorized use of the device and the Application. Do not act fraudulently or maliciously in relation to the Application or software e.g., you will not copy, modify, adversely effect, reverse engineer, hack into or insert malicious code into the Application or its software; and let us know immediately by calling the SSF; in case of any unusual/unauthorized transactions is noticed. Charges: The Client hereby agrees to bear the charges as may be stipulated by SSF from time to time for availing the E-credit application Services. The client shall be clearly notified of the charges through schedule of charges of the SSF or through information posted on the website of the SSF or through emails sent to client\'s registered email address with SSF. The Client hereby authorizes SSF to recover the service charge by debiting one of the Accounts of the Client or by sending a bill to the Client who will be liable to make the payment within a specified period. Failure to do so shall result in recovery of the service charge by SSF in any manner as may deem fit along with such interest, if any, and/or withdrawal of the E-credit application without any liability to SSF. Indemnity: In consideration of SSF providing E-credit application to the Client, the Client shall indemnify and hold SSF and/or SSF\'s Affiliates, as the case may be, including both their officers, employees and agents, indemnified against all losses and expenses on full indemnity basis which SSF may incur, sustain, suffer or is likely to suffer in connection with SSF or Affiliates\' execution of the Client\'s instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing a service through E-credit application for any action taken or omitted to be taken by SSF and /or the Affiliates, its officers, employees or agents, on the instructions of the Client. The Client will pay SSF and /or its Affiliates such amount as may be determined by SSF at it sole discretion to be sufficient to indemnify SSF against any loss or expenses even though they may not have arisen or are contingent in nature. The Client shall take all necessary precautions to ensure that there are no mistakes and errors and that the information given, instructed, or provided to SSF is error free, accurate, proper complete and up to date at all points of time. On the other hand, in the event of the Client\'s Account receiving an incorrect credit by reason of a mistake committed by any other person, SSF shall be entitled to reverse the incorrect credit at any time whatsoever without the prior consent of the Client. The Client shall be liable and responsible to SSF and accede to accept the SSF\'s instructions without questions for any unfair or unjust gain obtained by the client as a result of the same. Disclosure of Information: The Client accepts and agrees that SSF and/or its Affiliates or their contractors may hold and process his/her Personal Information and all other information concerning his/her Account(s) on computer or otherwise in connection with E-credit application as well as for analysis, credit scoring and marketing. The Client also agrees that SSF may disclose, as provided under current Pakistan law, to other institutions Personal Information as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for credit rating by recognized credit scoring agencies, for fraud prevention purposes. Change of Terms: SSF shall have absolute discretion to amend or supplement or delete any of the Terms contained herein at any time and will endeavor to give prior notice of thirty days for such changes. Such change to the Terms shall be communicated to the Client through its website or through email sent to the Client\'s registered email address. By continuing to use any existing or new services as may be introduced by SSF, the Client shall be deemed to have accepted the amended Terms. Non-Transferability: The grant of E-credit application to a Client is purely personal in nature and not transferable under any circumstance and shall be used only by the Client. Notices: SSF may publish notices of general nature, which are applicable to all clients in newspapers or on its web site or through emails sent to clients registered email address. Such notices will have the same effect as a notice served individually to each Client. General: All costs incurred by the user, including but not limited to any telecommunication costs to use E-credit application, would be borne by the client. Assignment: SSF shall be entitled to sell, assign or transfer SSF\'s right and obligations under the Terms and any security in favor of SSF (including all guarantee/s) to any person of SSF\'s choice in whole or in part and in such manner and on such terms and conditions as SSF may decide. Any such sale, assignment or transfer shall conclusively bind the Client and all other persons. The Clients, his/her heirs, legal representatives, executors, administrators and successors are bound by the Terms and the Client shall not be entitled to transfer or assign any of his rights and obligations. Governing Law and Jurisdiction: The Terms will be construed and enforced in accordance with, and the rights of the parties hereto will be governed by, the laws of the Islamic Republic of Pakistan applicable therein. Any and all disputes arising under the Terms, whether as to interpretation, performance or otherwise, will be subject to the exclusive jurisdiction of the courts at Hyderabad, Pakistan and each of the parties hereto hereby irrevocably attorns to the exclusive jurisdiction of such courts. The Parties hereby agree that any legal action or proceedings arising out of the Terms for E-credit application shall be brought in the courts and to irrevocably submit themselves to the jurisdiction of such courts. SSF may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Terms for E-credit application in any other court, tribunal or other appropriate forum, and the Client hereby consents to that jurisdiction. Any provision of the Terms for E-credit application, which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction. Termination: SSF reserves the right to terminate the facility of the E-credit application, either partially or in totality, at any time whatsoever, without prior notice. SSF also reserves the right at any time without prior notice to add / alter / modify / change or vary all of these Terms and Conditions. |