Loan agreement

Vaylaco (the "Platform") is an independently developed application that is wholly owned and operated by PETER O. COMMUNICATIONS NIGERIA LIMITED (the "Company"). The loans you apply for through Vaylaco will be serviced and disbursed by the Company.

As a user of the Platform ("User" or "You"), You understand that the Platform provides access between multiple Users in the form of Consumers, Data Partners and other Borrowers, Service Providers, etc. to facilitate lending activities. It is hereby clarified that the term "User" refers to any person using the Platform, i.e. consumers, regulated entities, data partners and other partners. Your use of the Platform signifies that you have read, understood and agree to abide by the terms and conditions set forth below ("Terms and Conditions").

These Terms and Conditions, read in conjunction with our Privacy Policy, govern your use of the Platform and the terms of use of the services offered on the Platform ("Products"). If you do not agree with any part of these Terms and Conditions, please do not use the Platform.

Please read these Terms and Conditions carefully before accessing or using our Platform. By accessing or using any part of the Platform, you agree to be bound by these Terms and Conditions. If you do not agree to all of the terms and conditions of this Agreement, you may not access the Platform or use the Products through the Platform.

1. General provisions

The Application provides access to an online platform that brings together consumers, financial institutions, data partners and other partners willing to comply with the terms and conditions herein. We offer a wide range of personal loan products displayed on the platform. The platform facilitates transactions between the Company and the User only. In accordance with local rules and regulations currently in force, the Company is not a deposit-taking company or a charitable fund or a company offering any investment scheme.

The platform facilitates contacts between the Company on the one hand and those who need to borrow money on the other. The final decision regarding borrowing is at the discretion of the Company. In addition to the services described above, the Company provides certain other services related to data analytics in accordance with these terms and conditions.

If you wish to use any of the products displayed on the Platform, you will be required to provide certain information and a representative of the Company may contact you by telephone or email to understand your requirements.

The Company provides various services on the Platform, including but not limited to (the "Services"):

- 1.1 Facilitating the purchase and sale of products between Company and Users on its Platform;

- 1.2 Monitoring and updating credit reports obtained by Users through the use of the Platform when the Company receives credit reports from Authorized Agents;

- 1.3 providing support to Users in verifying their financial capacity;

- 1.4 The Company is performing expense analytics in the background to analyze your income and expenses, which is obtained by the Company through bank SMS crawling and integrations with service providers and is not shared with you.

- 1.5 If you have registered your telephone number on your network provider's Do Not Disturb register, you should ensure that you take all steps to enable a representative of the Company to contact you by telephone to provide details of different financial products and information about you. It should be ensured that such calls received by you are based on the information provided by you to us and that you do not register a complaint with the relevant authorities in this regard.

- 1.6 Instant Loan Approval: Instant Personal Loans are approved within 15 minutes from registration to direct bank transfer.

- 1.7 Product Information:

Loan Amount: 18,000 500,000

Loan Term: 91-365 Days

Interest Rate: The highest APR is 24%

For example:

If you borrow 40,000 with a loan term of 120 days and an APR of 15%, then

Interest Rate = 40,000 * 120/365 * 15% = 1972.60

After 120 days, the total amount you have to pay is 40,000 + 1,972.60 = 41,972.60

2. Eligibility

The User of the Platform expressly declares and agrees that the User is a natural/legal person over 18 years of age and permitted by local law to enter into contracts. The User may use the Services in accordance with the terms and conditions detailed below. By registering on the Platform, the User hereby undertakes to agree to and abide by the terms and conditions detailed herein. In the event that the User breaches any of these Terms and Conditions, or otherwise violates the agreements entered into through the Platform, the Company may terminate the User's membership, delete his/her profile and any content or information posted by the User on the Platform. The Platform prohibits the User from using or accessing the Platform at any time, in its sole discretion, with or without notice.

3. Acceptance of Terms and Conditions

As a user of the Platform, you have agreed to the terms and conditions provided under this Agreement or anywhere else on the Platform, including, without limitation, the Disclaimer on the Platform. You are advised to read and understand the above terms and conditions and if you do not agree to them, please do not use the Platform.

The Company reserves the right to change, modify, add or remove portions of these Terms and Conditions at any time in its sole discretion without prior written notice to the User. It is the responsibility of the User to periodically review these Terms and Conditions for any updates. Continued use of the Platform by the User after these Terms and Conditions have been modified will mean that the User accepts the modifications.

4. Your Account

If you wish to use the Platform, you will be required to maintain an account and will be required to provide certain information and details, including your name, email address, contact telephone number and any other information the Company deems necessary, as detailed in the Privacy Policy. You are responsible for maintaining the confidentiality and security of your account, password, and activities in or through your account, and for restricting access to your computer to prevent unauthorized access to your account. You agree to accept responsibility for all activities that occur under your account or password. You shall take all necessary steps to ensure that your password is kept confidential and secure and you shall notify us immediately if you have any reason to believe that your password is known to anyone else or that it is being or may be used in an unauthorized manner. Please ensure that the details you provide to us are true, correct, accurate and complete. As soon as the Company has reasonable grounds to suspect that the information you have provided is incorrect, inaccurate or incorrect, the Company will terminate your account immediately and without notice. If there are any changes to the information you shared when registering on the Platform, it is your responsibility to immediately notify us of said changes.

Your Registration Obligations: In consideration of your use of the Services/Platform, you agree to: (1) provide true, accurate, current and complete information about yourself, your payment account and payment instructions, and the details of your payees; and (2) maintain and promptly update the said information to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or if we have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the Services (or any part thereof). (3) Anyone contacted by us, representatives, affiliates, outsourced collection agencies, or anyone calling on our behalf at any of the contact numbers or physical or electronic addresses you provided when you registered your account with Vaylaco. You further consent to us contacting you by any means, including but not limited to email, text message, WhatsApp, calls using pre-recorded messages or artificial voice, and notifications sent through our mobile applications. You shall be solely responsible for selecting the date on which the Loan is to be repaid to the Company's bill in advance of the due date (the "Payment Date") in order to allow the Company or a third party sufficient time to process your Loan payment instructions and fund the Company in advance of the Loan's due date. If a Payment is credited to Company's account on a date that falls after the Payment Due Date, you shall be responsible for payment of late/late fees or all other consequences in accordance with Company's then current policies. The Company or a third party shall not be liable if the Company or a third party is unable to carry out any payment instruction on the Payment Date or otherwise as a result of any one or more of the following circumstances:

- 4.1 If you send an incomplete, inaccurate, invalid or delayed Payment Instruction.

- 4.2 If there are insufficient funds in the Payment Account to cover the amount referred to in the Payment Instruction.

- 4.3 If there are any title encumbrances or charges on the funds available in the Payment Account.

- 4.4 If your bank or NCC refuses or delays the fulfillment of a Payment Instruction.

- 4.5 Circumstances beyond the control of the Company or a third party (including, but not limited to, fires, floods, earthquakes, natural disasters, bank strikes, power outages, system failures, such as computer or telephone line failures due to unforeseen causes, or interference from external forces). If Company or a third party fails to execute a payment order prior to the payment date for any reason other than those stated above, and such failure is directly and exclusively attributable to Company or the third party, then in such event, Company's or the third party's liability shall be limited to the amount of the late payment charge, if any. In no event shall the company/or third party/or its officers, directors, employees or agents be liable for any indirect, incidental, consequential or punitive damages, lost profits, lost revenues, even if advised of the possibility of such damages, except to the extent set forth above. You can access and update most of the information you provide to us in the Dashboard area of your account by logging in or by writing to us at Vaylaco The right to use the Platform is personal to the user and is not transferable to any other person or entity. You shall comply with the terms and conditions set forth herein at all times, and any violation of these conditions may also result in the termination of your account by the Company, which will seek appropriate civil and criminal remedies against you in accordance with local law.

5. Privacy

In order to provide its services, the Company collects certain information from you. The Company's use of your personal information is governed by the Privacy Policy.

6. License and Access

Company grants you a limited license to access and use the Platform to take advantage of the Services, but not to download any materials from it (other than page caching) or to modify it, or any portion of it, except with Company's express written consent or the express written consent of its affiliates, as applicable. Any unauthorized access to the Platform or any network, server or computer system connected to the Platform, as well as any attempt to modify, adapt, translate or reverse engineer any portion of the Platform or to reformat or construct any portion of the Platform pages, save to the extent expressly permitted by these Terms and Conditions, is not permitted. This license is non-transferable and does not permit any resale or commercial use of the Platform or its content; the downloading or copying of account information for the benefit of anyone other than you; or any use of data mining, robots, or similar data gathering and extraction tools. The Platform or any portion of the Platform (including, without limitation, any copyrighted material, trademarks or other proprietary information) may not be reproduced, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without expressly so stating. The written consent of the Company or its affiliates (as applicable). Any unauthorized use of the Platform will terminate the Company's license or revoke the license granted by the Company. You may only use the Content provided to you through the Service for the limited purposes of said Service. You may not reproduce, distribute or create derivative works based on that content.

7. Monitoring of the Platform and your account

Company has the right and freedom to monitor the content of the Platform at any time, including the information provided in your account. Monitoring of the Platform is important to determine the accuracy of the information you provide and each user's compliance with the terms and conditions provided herein. Subject to the terms and conditions mentioned herein, the Company also has the right to remove any objectionable content that violates the terms and conditions herein, or to share such information with any governmental agency , in accordance with the procedures prescribed by the then current law.

8. Suspension of Services

Company may wish to discontinue providing the Services and may terminate the use of the Services at any time without giving you notice of termination. Upon termination, unless Company notifies the User otherwise, (1) the rights and licenses granted to you in these Terms will terminate; and (2) the User must immediately stop using the Platform. Company reserves the right to suspend or discontinue providing any of the Services and shall not be liable or responsible in any way to the User if Company chooses to do so.

9. Prohibited Uses

In addition to the other prohibitions set forth in the Terms and Conditions, you are prohibited from using the Platform:

(1) for any unlawful purpose;

(2) to solicit others to commit or participate in any unlawful act;

(3) to violate any international, federal, provincial, or state statute, rule, law, or local ordinance; (4) to infringe or violate our intellectual property rights or the intellectual property rights of others;

(5) to harass, abuse, insult, harm, defame, slander, demean, or intimidate on the basis of gender, sexual orientation, religion, ethnicity, race, age, nationality, harassment, abuse, insult, injury, defamation, libel, disparagement, intimidation;

(6) submitting false or misleading information;

(7) uploading or transmitting viruses or any other type of malicious code that will or may be used in a manner that interferes with the functionality or operation of the Services or any related website, other website, or the Internet;

(8) collecting or tracking personal information about others;

(9 ) spamming, phishing, pharming, pretexting, crawling;

(10) for any obscene or immoral purpose;

We reserve the right to terminate your use of the Service or any related website if you violate any of the prohibited uses.

10. Limitation of Liability and Disclaimer

Not with standing anything to the contrary in this Agreement, neither PETER O. COMMUNICATIONS NIGERIA LIMITED nor any of its affiliates, subsidiaries, officers, directors, employees, or any related parties shall be liable to you or any third party for any indirect, incidental, special, or consequential damages, or for any loss arising out of or in connection with these Terms and Conditions. revenue or profits arising under or in connection with these terms and conditions. To the fullest extent permitted by law, you waive and hold harmless PETER O. COMMUNICATIONS NIGERIA LIMITED, its affiliates and subsidiaries, and each of their directors, officers, employees and agents from and against any and all claims, losses, damages, liabilities. costs and causes of action arising from your use of the Platform. The information provided on the Platform is based on information provided to the Company. The Company will not be responsible or liable for any claims if the User fails to disclose any information to the Company and the Company does not discover the information in the first instance despite all steps taken by the Company to prove the User's rating or credibility. The Company makes no representations or warranties as to the accuracy, reliability, completeness, currentness or timeliness of any content, information, software, text, graphics, links or communications used on or made available through the use of the Platform, nor does it warrant that the operation of the Platform will be error-free. Accordingly, for any delay, failure, interruption, corruption of any data or other information transmitted in connection with your use of the Platform; or any interruption or error in the operation of the Platform. This limitation of liability provision shall prevail over any conflicting or inconsistent provisions contained in the contents of any document comprising these Terms and Conditions. It is your responsibility to take precautions to ensure that any Content you choose to use is free of viruses, malware, Trojan horses and other items of a destructive nature.

Your use of the Service and all information, products and other content included on or accessible through the Service, including those of third parties, is at your own risk. the service is provided on an "as is" and "as available" basis. company expressly disclaims all warranties of any kind, whether express or implied, with regard to the service and all information, products and other content included in or accessible from the service, including third party information, products and other content, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement as set forth below. company does not warrant that (1) the services will meet your requirements, (2) the services will be uninterrupted, timely, secure, or error-free, (3) the results that may be obtained from the use of the services will be accurate or reliable, (4) the quality of any products, services, information, or other materials purchased or obtained by you through the services will meet your expectations or that any errors in the technology will be corrected, and that you will be fully responsible for any damages loss of your computer system or data that results from the downloading of any such materials. no advice or information, whether oral or written, obtained by you from company or a service provider through the service shall create any warranty not expressly stated in these terms. you further agree that neither company nor the third party service provider, any of its affiliates, account providers, or any of their affiliates shall be liable for any damages, which the courts often refer to as direct, indirect, incidental, special, special, consequential, or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses arising out of or in connection with the Service, even if company or the service provider has been advised of the possibility of such damages arising out of (1) the use of, or inability to use, the services/platform; (2) the cost of obtaining substitute goods and services, (3) any products, data, information, or services purchased or obtained, or messages or transactions received or conducted, through or from the services; (4) unauthorized access to, or alteration of, your transmissions or data; and (5) the words or conduct of any person on the services; even if the Provider has previously been advised of the possibility of such damages; or any other matter relating to the Services. our maximum liability is limited to the amount you actually pay us for the service.

11. Indemnification

You agree to indemnify and hold harmless the Company, its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors and partners from and against any and all claims, demands, losses, damages and liabilities, costs damages and expenses, including without limitation, those arising out of or in connection with your use or misuse of the Services, the Website, the Application or the Platform, any breach by you of the terms and conditions herein, or any breach of representations legal costs and expenses arising out of or in connection with your use or misuse of the Services, the Website, the Application or the Platform, your warranties and undertakings given herein, or your infringement of any intellectual property or other rights of any person or entity, or as a result of any threatening, defamatory, obscene, harassing or offensive material posted by you on the Platform. Company reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Company, including the right to settle, and you agree to cooperate with Company in the defense and settlement of such claims. The Company will use reasonable efforts to notify you of any claim, action or proceeding brought by a third party and such claim, action or proceeding will be subject to the indemnification provisions set forth above. This paragraph will survive the termination of these Terms and Conditions. or proceeding brought by a third party, and such third party shall be required to accept the above indemnity upon such knowledge. This paragraph shall survive the termination of these Terms and Conditions.

12. Advertisers/third-party links on the Platform

The Company is not responsible for the advertisements contained within the Platform. The Company has no control over, and assumes no responsibility for, the content of any websites or mobile applications to which links exist on the Platform. Such linked websites and mobile applications are provided "as is" for the convenience of users only and no warranty, express or implied, is made with respect to the information provided therein. The Company does not endorse or recommend any third party websites or mobile applications to which the Platform provides links. In addition, the User agrees and consents that the content provided on the Website and the Application shall be synchronized and available on both media.

13. User comments, feedback and other input

If you send certain specific Submissions at Company's request or, in the absence of a request from us, send ideas, suggestions, recommendations, proposals, plans, or other materials online, by email, by postal mail, or otherwise (collectively, "Comments"), you agree that we may, at any time and without limitation, edit, copy, publish, distribute, translate, and otherwise use any Comments you forward to us in any medium at any time without restriction. We are under no obligation to (1) keep any Comments confidential; (2) compensate you for any Comments; (3) or respond to any Comments. You agree that your Comments will not violate any rights of any third party, including copyright, trademark, privacy, personality, or other personal or proprietary rights. You further agree that your Comments will not contain defamatory or otherwise unlawful, abusive or obscene material, nor will they contain any computer viruses or other malicious software that may in any way affect the operation of the Services or any related website. You will not use a false e-mail address, impersonate another person or otherwise mislead us or third parties as to the origin of any Comments. You are solely responsible for any comments you post and for their accuracy. We are not responsible for any Comments posted by you or any third party. You grant Company and its service providers a license to any information, data, passwords, materials or other content (collectively, "Content") that you provide through the Platform or otherwise. Company's service providers may use, modify, display, distribute and create new materials using such Content to provide the Services to you. Company and its service providers may also use, sell, license, reproduce, distribute and disclose aggregated non-personally identifiable information obtained through your use of the Services. By submitting content, you automatically agree or promise that the owner of that content has expressly agreed that Company and its third-party service providers may use the content for the purposes set out above, without any specific time limit and without payment of any fees. As between Company and its third party service providers, Company owns your confidential account information.

14. Complaints

Users have the full right to lodge a complaint/feedback if they are disappointed with the services provided by the Company. They can submit their complaints/feedback in writing or via email.