KCB/AIRTELAGENT FLOAT FINANCING Clause Samples

KCB/AIRTELAGENT FLOAT FINANCING. 5.1.1 As a holder of the Airtel agent line and having received a confirmation message bearing your credit limit, you may, subject to these terms and conditions apply for a loan using the Airtel agent float financing menu on your equipment. 5.1.2 Where you apply for a loan from the bank and Telecom, your application shall be appraised according to the applicable loan appraisal processes of the bank and the telecom. KCB and AIRTEL reserve the right at its sole discretion and without assigning any reason to approve or decline your application for a loan. 5.1.3 Subject to approval of your application for a loan, the bank and Telecom shall disburse to you a loan 5.1.4 The proceeds of the Loan shall be credited into your Airtel agent Account subject to any deductions of applicable Interest charge. 5.1.5 You shall repay the loan within forty- eight hours (48 hours) with UGX 300 interest, failure to pay of which three thousand Ugandan shillings (UGX 3,000) penalty interest shall be charged on the outstanding amount. 5.1.6 Interest Fees are subject to change at any time at the bank’s and Telecom’s sole discretion subject to thirty days’ notice to you. 5.1.7 You shall make all payments due from you to the Bank and Telecom in respect of the Loan and Interest Fees using the AIRTEL Agent float financing menu. 5.1.8 The bank and Telecom reserves the right to vary the terms of the Loan including the fees payable thereon from time to time having regard to the prevailing rules and regulations of the Central Bank of Uganda, the policies of the Bank and Uganda Communication Commission.