Maalicard Digital Financial Service Terms and Conditions

Terms & Condtions

Terms and Conditions

1. Date: Ver 01. 2021 April 27

The MaaliCard inclusive financial services and website (each as defined below) are operated by FIT Insights Limited and its subsidiary Maali Financial Corporation thereof (collectively, “Maalicard”, “we”, or “us”). MaaliCard is in the business of providing customers with inclusive financial solution that included Bulk payments, Payment collection, transfers, saving, small rescue loans, lines of credit like school, seed insurance, personal accident and other related services (“Service”). MaaliCard is not bank or a broker, investment advisor or financial planner, and we do not provide financial, securities, legal or tax advice. Before making any decision or implementing any strategy you should consider obtaining additional information and advice from your accountant, attorney, and/or other advisors. “You” are defined as the client if your registered as individual or non-individual for the services offered by Maalicard either on web portal or on Mobile. owner of the company completing the application on behalf of the company seeking credit.
Be advised that unless otherwise noted, any agreements, authorizations or consents made by you or permissions granted to you hereunder also apply and are binding on your company seeking credit directly from MaaliCard, or from a bank that originates credit through the MaaliCard platform (“MaaliCard Digital Banking Partner”).

2. Accepting the Terms of Service and Use of the channel to access financial services

By using the information, tools, features and functionality located at www.maalicard.com or subdomains (the “Website”) or Mobile Apps or USSD by signing up , submitting digital request for services such saving, payment, transfer, deposit and microcredit to MaaliCard or service utilization, you signify that you have read, understand and agree to be bound by these terms and conditions (the “Agreement”) for any and all applications service described above and all conditions of our third service providers like the digital Banking Partner and the MNOs. You further agree that all information being provided by your company or yourself as the user or borrower and/or by you as a user (either as a guarantor or as an authorized representative of your company or yourself as an individual) as part of the signup and application process for the MaaliCard digital banking service is true and complete.
Yes, informed that you may not use the Service and you may not accept this Agreement if you are under 18 years of age. You represent that you have the capacity to bind the company or entity applying using the services, on behalf of such company or entity or yourself. You understand that, other than with regard to service taken under the use of the MaaliCard digital services; For the microcredit, it (a) we will require you to having a saving in the MaaliSave account of not less than 300,000 Ugx. as accept that credit taken shall not exceed 75% of your saved value at any time. and (b) for term loans, we will take a general lien on your personal saving, or salary as agreed with your employer or business’s assets. Before you continue, you should print or save a copy of this Agreement for your records.
In addition to this Agreement, you and your company or saving group or investment club may enter into other agreements, including a loan agreement or promissory note that will govern the terms of you making payment for the line of credit and use of the Service. If there is a conflict between this Agreement and such other agreements that is applicable to specific aspects of the Service, the other agreement shall govern with respect to those specific aspects.
MaaliCard may make changes to this Agreement from time to time. If we do this, the date at the top of this page indicates when the latest revisions were made. Your continued use of the Service or the Website will constitute acceptance of such revisions.

3. Credit and Background Check Authorization

You understand and agree that MaaliCard and our agents and assignees are authorized to contact third parties to conduct background checks and other investigative reports, including but not limited to your business credit card sales data as described below, and make credit report inquiries (including requesting personal credit bureau reports about you and any other owner(s) of the business who will be providing a personal guarantee, and business credit bureaus about your company and yourself. MaaliCard has such authority for the foregoing in connection with any extension of credit to the individual /company on whose behalf you are applying, conducting loan file updates, ongoing loan reviews, renewal of financing, or referral of your business to third party lenders. Upon your written request, we will advise you if we obtained a credit report. You understand and agree that MaaliCard is making no commitment or guarantee that any product, evaluation, or guidance provided by MaaliCard will result in an approval of credit from MaaliCard or any MaaliCard Banking Partner.

4. Privacy, Personal and Company Information

For information about MaaliCard’s data protection practices, please read our Privacy Policy, which can be accessed on the Website, as modified from time to time, which is hereby incorporated into this Agreement. The Privacy Policy explains how collects and treats your personal and company information, and protects your privacy, when you access MaaliCard and use the Service. The policy may be updated from time to time at our discretion. Changes will be effective upon posting to the Website

5. Identity Verification

To help the government fight the funding of terrorism and money laundering activities, Government law requires financial institutions to obtain, verify, and record identifying information that identifies each person and entity applying for financial Services. Therefore, when you or company applies for financial Services , we ask for your name, address, and other information that allows us to identify you or your company. We may ask for a registered telephone number , for your driver’s license. National ID, Passport ID, Refugee Id and for companies such documents like ( Certificate of incorporation, Form 18, Copy of memo drum of Associations, trading License) or other identifying documents. You allow us to obtain such information and share the information with third parties to help us verify you or your company’s identity.
In connection with the provision of the Service, users may submit financial information from their business banking account(s) to . MaaliCard and MaaliCard Banking Partners use this information for lending decisions and may require updates to monitor the performance of customers on an ongoing basis. With the Service, users may direct MaaliCard to retrieve your company information maintained online or otherwise by third-party financial institutions or organizations authorized to house such information.

6. Proprietary Rights

All content on the Website or used by the Service, including but not limited to text, names, designs, pictures, information and software are the proprietary property of MaaliCard with all rights reserved.
You are permitted to use content delivered to you through the Service or Website only on the Service. You may not copy, reproduce, modify, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any of the Service technology.

7. Electronic Communications

You hereby consent to receive by electronic means, (or in writing through postal mail or WhatsApp’s, SMS, USSD, email), this Agreement, communications, disclosures and notices, including and any and all disclosures and/or notices required to be given by applicable law or regulation. You also consent to allow , or an MaaliCard Banking Partner, to respond to any inquiries by e-mail, or SMS message or WhatsApp’s numbers registered at the time of application, regardless of the format of the original inquiry. You must also agree to our E-Sign consent during the online sign up or application process of any service.

8. Telephone Communications

You authorize MaaliCard and those acting on its behalf to deliver or cause to be delivered advertisements or telemarketing messages, including calls, text messages, and SMS and MMS messages, using an automatic telephone dialing system (often referred to as an auto dialer) or an artificial or prerecorded voice, to the telephone numbers you have provided in your application for the financial services to MaaliCard (including your cellular phone numbers).
You agree that this consent applies even if the numbers you have provided are currently on any state, government, or corporate Do-Not-Call registry. You understand that you are not required to provide this consent as a condition of receiving any credit or financial services from MaaliCard, and that you may apply for business credit/ financial services by contacting us directly or via the registered channels. You may opt out of receiving calls and marketing from MaaliCard and its affiliates, marketing partners, agents and others as provided in the Privacy Policy or by contacting us directly.

9. Loan Return Policy

You agree that you may not return any loan or other financial product that you take from MaaliCard, or an MaaliCard Banking Partner, except at MaaliCard’s or the MaaliCard Banking Partner’s sole discretion, it being understood that in no event will you be able to return any such product after 17.00 Hrs on the second business day following the initiation of disbursement of funds by MaaliCard, and no returns of renewal microloans will be permitted.

10. Third Party Sites or Content

The Website or other materials sent to you under the Service may contain links to other Websites (“Third Party Sites”), as well as content from third parties. is not responsible for such Third Party Sites or content from third parties, including without limitation accuracy, reliability, offensiveness, or appropriateness. If you decide to leave the Website and access Third Party Sites or third-party content, this Agreement and MaaliCard policies no longer apply.
In addition, if any such link is to another financial service provider or microlender, MaaliCard acts solely as a referrer and does not guarantee or underwrite the products or services, including credit products, insurance, bill payments, pensions, health insurance provided by such financial provider or lender. You will be deemed a customer of that provider or lender with respect to any products or services provided by such provider or lender. MaaliCard has no role in, nor any liability for any decision made or product or service provided by such other financial provider or lender.

11. Miscellaneous

Limitation on Liability
TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE OR OUR DIRECTORS, EMPLOYEES OR AGENTS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES, INCLUDING FOR ANY LOST PROFITS OR LOST DATA, ARISING FROM YOUR USE OF THE WEBSITE OR THE SERVICES, INCLUDING THE UNAVAILABILITY OF THE SERVICES FOR ANY REASON, OR ANY SYSTEM FAILURE OR MALFUNCTION ASSOCIATED WITH THE SERVICES, AND INCLUDING ANY THIRD PARTY CLAIMS, WHETHER BASED ON THEORIES OF BREACH OF CONTRACT, TORT, PRODUCT LIABILITY, OR BREACH OF WARRANTY. THESE LIMITATIONS OF LIABILITY WILL APPLY EVEN IF WE ARE ADVISED ON THE POSSIBILITY OF SUCH DAMAGES OR CLAIMS. THE PARTIES UNDERSTAND THAT THE SERVICES BY US WOULD NOT BE PROVIDED WITHOUT SUCH LIMITATIONS.

Warranty
WE DISCLAIM ANY WARRANTY OF MERCHANT LIABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ANY LIABILITY FOR ERRORS OR OMISSIONS IN ANY INFORMATION PROVIDED AS PART OF THE SERVICES OR ON THE WEBSITE AND ANY WARRANTIES REGARDING THE OPERABILITY OF THE SERVICES OR LIABILITY FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE SERVICES AT ANY TIME.

Governing Law; Venue and Jurisdiction
By accessing the Website or using Services, you agree that the laws of Republic of Uganda ( regardless your country of registration on the services ), without regard to any principles of conflict of laws that would require or permit the application of laws of any other jurisdiction, will govern this Agreement or your use of the Services.
For Overseas applicants: You understand that the countries laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. Secondly, that MaaliCard may apply a foreign country law or regulation based on the nature of transaction or service requested even if it not required by in the Republic of Uganda by law but is appliable to the applicant in the country in which she or he registered for the service.