Terms and conditions

RE: CONSENT, DISCLOSURES, TERMS AND CONDITIONS.

CONSENT.
1. By entering into this agreement, I authorize FRIONTOP LIMITED(For its own purpose as a lender or that of its customers with my consent) to access and query my credit information from any of the licensed CRBs and to receive credit reports/scores from any of the licensed CRBs on behalf of myself in order to assess my credit worthiness, wherever and whenever I apply for a new facility and during the persistence of such facilities in order to assist FRIONTOP LIMITED OR ANY OF ITS CUSTOMERS to accomplish its objectives and to enforce its rights under this agreement. I further consent to my credit information being shared with the licensed credit reference bureaus.

  1. This consent shall not be withdrawn during the period in which my application is pending to or I have an outstanding balance with FRIONTOP LIMITED OR ANY OF ITS CUSTOMERS.
  2. This consent shall automatically terminate upon clearance of all existing loans by myself to FRIONTOP LIMITED OR ANY OF ITS CUSTOMERS and as long as I have no outstanding facilities with FRIONTOP LIMITED OR ANY OF ITS CUSTOMERS.

 

FRIONTOP DISCLOSURES, TERMS AND CONDITIONS.

  1. Friontop Limited exist to assist small and micro enterprises in the administration of credit facilities to their customers.
  2. We help small and micro enterprises vet their credit customers by use of data provided by registered Credit Reference bureaus.
  3. Our services are offered through a USSD app hosted via *261*23# for borrowers and *261*24# for lenders. The goods advance platform has been dubbed “Business Path” and the word “Business Path” will be used whenever referring to the USSD APP for branding purposes and communication,
  4. To access credit from Friontop Limited or any of its customers, you must authorise the access and query of your credit information by Friontop Limited(for purposes of its own lending or that of its customers) from any of the licensed CRBs and to receive credit reports/scores from any of the licensed CRBs on behalf of yourself in order to assess your credit worthiness, wherever and whenever you apply for a new facility with Friontop Limited or any of its customers and during the persistence of such facilities in order to assist FRIONTOP LIMITED OR ANY OF ITS CUSTOMERS to accomplish its objectives and to enforce its rights under this agreement. You further consent to your credit information being shared with the licensed credit reference bureaus.
  5. Lending will be purely at the discretion of Friontop Limited and or its customers.
  6. The limit to which you will be allowed to borrow will be solely determined by Friontop Limited or by its customers with advice from Friontop Limited.
  7. The current credit periods are 1 week, 2 weeks and 1month.
  8. Reminders will be sent to borrowers via SMS on a regular basis throughout the credit period.
  9. The reminders sent via SMS will act as the official communication for due dates and amounts owed. Where necessary, phone call will also be made.
  10. All applications will be done through *261*23# (works with Safaricom only for now)  through a lenders code (unique to each lender) that will be communicated by specific lenders.
  11. By following the prompts provided under *261*23# and providing your bio data( First Name, Last Name, Id number and Phone number) it shall be deemed that you have consented to your credit data query.
  12. If necessary, a confirmation of your bio data will be done with KRA pin checker as well as Integrated population registration system; IPRS.
  13. These terms and conditions are available on friontop.com and a link will be shared through SMS when applying for credit.
  14. You will be allowed an extra period equivalent to your chosen credit period as a grace period for late payment. Anything past that will attract a 20% surcharge on the principal amount.
  15. First time borrowers with Friontop Limited or any of its customers will be charged Ksh 250 to facilitate Vetting/scoring.
  16. By accepting credit from Friontop Limited or any of its customers, you will be deemed to have accepted all the terms set out in this document.
Chat with us whatsapp