Consumer Credit Agreement

Introduction

These are the terms and conditions attached to the Hermes cash credit account. This will explain how the account works and other important things to know. This agreement is between Hermes Global Capital LLC, Hermis Global Capital Ltd. and You. Hermis will charge you an amount to cover any other reasonable costs or losses we must pay if you break this agreement.

Using your Account

Hermis will create an account for you upon registration. Once your registration has been approved, you can start using your cash credit. You can only use your Hermis account for cash withdrawals.

How to use your account

If you want to make any cash withdrawals within your credit limit, just call one of our representatives with your requests and once its been validated the money will be in your account within 10 mins barring any delays with bank transfers.

Credit Limit

The Credit Limit is the most you can owe on your account. Upon registration we set your credit limit according to your circumstances, your account usage and history, validation of the details you’ve given to us and any other information we think is relevant. You’ll receive a text telling you your credit limit when you register. We’ll then review it from time to time. We may reduce your credit limit based on an assessment of risk or your ability to repay. We’ll give you seven (7) days notice. If we increase your credit limit, we’ll also give you seven (7) days notice. You can inform us not to increase your credit limit at anytime.

Paying Your Bills

On or before your monthly due date, you must pay back whatever amount you’ve taken or shown on your statement as Total amount payable. We will make all attempts to inform you about your repayment summary through SMS. You can also know more details about your account from our authorized agents/ representatives. Hermis will make all attempts to send you a reminder three days before your payment due date stating your repayment summary, it doesn’t by any means infer that you are not obligated to repay due to non receipt of any sort of notice from our end. The payment must be received on or before your payment due date. If the payment you make is less than your total outstanding balance as shown on your repayment summary, we’ll use it to reduce the balance. Your outstanding balance will be rescheduled at the prevailing interest after your payment due date.

Missed payments

If you miss your payment we’ll reschedule the total amount outstanding to the following month at the same interest rate. You can only reschedule a missed payment once before the total outstanding balance becomes due. You cannot request any credit while on a rescheduled balance even when available credit is not zero. If you miss payments this could make obtaining credit more difficult and legal actions taken against you. If you still do not pay what you owe, a court order could be enforced against you and your assets disposed to recover any outstanding payments. Interest will continue to be charged after any court order for payment until it is satisfied.

If you miss a payment, the following will apply to your account;

• You lose any reduced interest rate during end of year review
• You’ll have reduced credit limit
• Could lead to legal action or bankruptcy proceedings. The cost will of which will bore by the you (customer)
• Recovery and Enforcement actions could be initiated.

Breaking the agreement will be subject to prosecution under Section 419 of the Criminal Code Act and any other applicable or relevant laws.

419A. (1) any person who by any false pretence or by means of any other fraud obtains credit for himself or any other person

1. In incurring any debt or liability; or
2. By means of an entry in a debtor and creditor account between the person giving and the person receiving credit, Is guilty of a felony and is liable to imprisonment for three years.

419B. Where in any proceedings for an - offence under section 419 or 419A it is proved that the accused

1. Obtained or induced the delivery of anything capable of being stolen;
2. obtained credit for himself or any other person, by means of a cheque that, when presented for payment within a reasonable time, was dishonored on the ground that no funds or insufficient funds were standing to the credit of the drawer of the cheque in the bank on which the cheque was drawn, the thing or its delivery shall be deemed to have been obtained, by a false pretence unless the court is satisfied by evidence that when the accused issued the cheque he had reasonable grounds for believing, and did in fact believe, that it would be honored if presented for payment within a reasonable time afterr its issue by him.

Interest Charges

• All Advances and cash transactions are charged at 10% per month.
• Interest is calculated at the Monthly Rate on your outstanding balance.
• Your SMS notification will show a balance, Total amount payable and your payment due date.

Changes to the Agreement

We may make changes at any time to any interest rate, or to any of the terms of this Agreement to:

• Reflect changes in market conditions;
• Reflect our credit assessment of you;
• Maintain or improve services;
• Reflect costs we incur.

Electronic communications and contact details

1. If you provide us with an email address or mobile phone number, you agree that we may send notices and account alerts to your mobile phone
2. If your name, address, telephone number(s) or email address or any othegdocument provided during registration changes, you must tell us.

How we use your information and who we share it with

We may use and share your information with external parties
This information helps us:
Assess and process applications and manage our relationship with you;
Recover debt; and
Prevent and detect crime.
We may contact you by variety of means via your mobile phone, by email, text message or post.

Fraud prevention agencies

If false or inaccurate information is provided and fraud is detected and suspected, details may be passed to fraud prevention agencies.