Kopafasta Microfinance Limited Terms of Service

1. Introduction

Welcome to Kopafasta Microfinance, a pioneering micro-lending institution committed to fostering financial inclusion and empowerment across Tanzania. Our mission is to provide accessible, affordable, and responsible financial solutions to individuals and businesses, empowering them to achieve their financial goals and aspirations.

At Kopafasta Microfinance, we understand the importance of access to financial services in driving economic growth, reducing poverty, and building resilient communities. With a focus on innovation, integrity, and customer-centricity, we strive to make a meaningful impact on the lives of our clients and the communities we serve.

These Terms of Service (“Terms”) govern your use of our Services, including accessing our website, mobile applications, and other digital platforms. By using our Services, you agree to abide by these Terms and our Privacy Policy, which outlines how we collect, use, and protect your personal information.

We are dedicated to providing a transparent and secure environment for our clients, fostering trust, and promoting responsible financial behavior. These Terms outline the rights and obligations of both Kopafasta Microfinance and our clients, ensuring clarity, fairness, and accountability in our interactions.

As you embark on your financial journey with Kopafasta Microfinance, we invite you to explore our diverse range of financial products and services, designed to meet your unique needs and circumstances. Whether you’re seeking a microloan to start or expand your business, a savings account to build financial resilience, or insurance protection for peace of mind, we are here to support you every step of the way.

Thank you for choosing Kopafasta Microfinance as your financial partner. We are committed to helping you navigate the complexities of the financial landscape, achieve your goals, and build a brighter future for yourself and your community.

2. Eligibility

To access and use our Services, you must meet certain eligibility criteria to ensure compliance with applicable laws and regulations. By using our Services, you represent and warrant that you meet the following eligibility requirements:

• Age Requirement: You must be at least 18 years old to access and use our Services. Minors under the age of 18 are not permitted to use our Services without parental or guardian consent.
• Legal Capacity: You must be legally capable of entering into binding contracts and assuming financial obligations. If you are accessing our Services on behalf of a business or organization, you must have the authority to bind the entity to these Terms.
• Residency: Our Services are available to residents of Tanzania. If you are accessing our Services from outside Tanzania, you are responsible for ensuring compliance with local laws and regulations.
• Accuracy of Information: You agree to provide accurate, complete, and up-to-date information when registering for our Services or applying for financial products. You are responsible for maintaining the confidentiality of your account credentials and for any activities conducted under your account.
• Compliance with Laws: You agree to use our Services in compliance with all applicable laws, regulations, and industry standards. You are responsible for ensuring that your use of our Services does not violate any third-party rights or infringe upon any intellectual property or proprietary rights.
• Prohibited Persons: You are not eligible to use our Services if you have been barred or restricted from accessing financial services by any regulatory authority or if you are listed on any government or international sanctions list.

We reserve the right to verify your eligibility and to suspend or terminate your access to our Services if we determine that you do not meet the eligibility criteria outlined above. We may also request additional information or documentation to verify your identity or eligibility as deemed necessary.

By using our Services, you acknowledge and agree to comply with these eligibility requirements and to provide truthful and accurate information at all times. We reserve the right to refuse service, suspend accounts, or take other appropriate actions if we have reason to believe that you have violated these Terms or engaged in fraudulent or unlawful activities.

3. Financial Services

Kopafasta Microfinance is committed to providing a comprehensive range of financial products and services tailored to meet the diverse needs of individuals and businesses across Tanzania. Our suite of financial services include:

1. Microloans:

Kopafasta Microfinance Limited offers microloans to individuals and small businesses who may not have access to traditional banking services or are underserved by mainstream financial institutions. Microloans are typically small, short-term loans designed to meet the working capital needs of entrepreneurs, self-employed individuals, and micro-entrepreneurs.

These loans may be used for various purposes, including business expansion, inventory purchases, equipment acquisition, working capital, and emergency expenses. See our loan products here.

1. Group Loans:

Kopafasta Microfinance Limited facilitates group lending programs where individuals form borrowing groups or solidarity groups to access credit collectively. Group loans are based on the principles of social collateral, where group members provide mutual support and guarantee each other’s repayment obligations.

This lending model fosters peer monitoring, risk-sharing, and social cohesion within the community, enabling access to credit for individuals who may not qualify for individual loans based on traditional credit assessments. See our loan products here.

 

1. Individual Loans:

Kopafasta Microfinance Limited also offers individual loans to clients who meet certain eligibility criteria and creditworthiness standards. Individual loans may be tailored to the specific needs and circumstances of borrowers, with customized loan amounts, repayment terms, and interest rates based on the borrower’s financial profile and credit history.

These loans may be secured or unsecured, depending on the borrower’s collateral or creditworthiness, and may be used for personal expenses, education, healthcare, housing, or other purposes. See our loan products here.

 

1. Savings Products:

In addition to credit products, through deposit taking financial institutions Kopafasta Microfinance Limited advises clients on savings products and deposit accounts to help clients build financial resilience, accumulate savings, and achieve their long-term financial goals. Savings accounts offer competitive interest rates, flexible deposit and withdrawal options, and convenient access to funds through branches, ATMs, mobile banking, or digital platforms.

Clients are encouraged to develop a habit of regular savings and financial planning to improve their financial stability and prepare for unexpected expenses or future investments.

1. Financial Education and Capacity Building:

Kopafasta Microfinance Limited provides financial education, training, and capacity-building programs to empower clients with knowledge and skills to make informed financial decisions, manage their finances effectively, and improve their financial literacy. Financial education workshops, seminars, and counseling sessions may cover topics such as budgeting, saving, borrowing, debt management, entrepreneurship, and risk mitigation.

By promoting financial literacy and empowerment, Kopafasta Microfinance Limited aims to help clients build resilience, overcome financial challenges, and achieve financial independence and prosperity. See our calendar here.

1. Insurance Products:

Through strategic partners, Kopafasta Microfinance Limited may offer insurance products to help clients mitigate financial risks associated with unexpected events, such as illness, injury, death, or property damage. Insurance products may include health insurance, life insurance, accident insurance, crop insurance, or property insurance, tailored to the specific needs and preferences of clients.

Insurance coverage provides financial protection and peace of mind to clients and their families, ensuring they are adequately prepared for unforeseen circumstances that could otherwise lead to financial hardship.

1. Financial Advisory Services:

Kopafasta Microfinance Limited may provide financial advisory services to assist clients in making informed financial decisions, setting financial goals, and developing personalized financial plans. Financial advisors or counselors offer one-on-one consultations, financial assessments, and personalized recommendations to help clients optimize their financial resources, minimize risks, and achieve their financial objectives.

Advisory services may cover a wide range of topics, including investment planning, retirement planning, estate planning, tax planning, and wealth management, based on the client’s individual circumstances and aspirations.

1. Credit Building and Rehabilitation Programs:

Kopafasta Microfinance Limited may offer credit building and rehabilitation programs to help clients establish or rebuild their credit history, improve their credit scores, and access mainstream financial services. These programs provide education, support, and resources to clients who may have limited or damaged credit histories, helping them understand credit fundamentals, manage debt responsibly, and build positive credit behaviors over time.

By participating in credit building programs, clients can enhance their financial credibility, expand their access to credit, and unlock opportunities for homeownership, education, entrepreneurship, and other life goals.

1. Financial Inclusion Initiatives:

Kopafasta Microfinance Limited engages in financial inclusion initiatives to reach underserved and marginalized populations who may face barriers to accessing formal financial services. These initiatives may involve partnerships with community-based organizations, non-governmental organizations (NGOs), government agencies, and other stakeholders to expand outreach, raise awareness, and promote financial inclusion.

Through targeted outreach and innovative solutions, Kopafasta Microfinance Limited seeks to address the unique needs and challenges of underserved communities, including rural populations, women, youth, persons with disabilities, and minority groups. See the projects we conducted here.

Overall, the financial services provided by Kopafasta Microfinance Limited are designed to promote financial inclusion, empower underserved communities, and support economic development by providing access to affordable and responsible financial products and services.

4. Loan Application and Approval

At Kopafasta Microfinance, we understand the importance of access to credit in driving economic growth and empowering individuals and businesses to achieve their financial goals. Our loan application and approval process is designed to be transparent, efficient, and customer-centric, ensuring that clients have access to the financing they need to succeed.

Loan Products: Before applying for a loan with Kopafasta Microfinance, clients have the opportunity to explore our range of loan products and determine which option best suits their needs. Whether they are seeking a microloan for business expansion, asset purchase, or emergency expenses, we offer flexible loan products with competitive interest rates and favorable terms.

Application Process: The loan application process begins with clients completing an application form, either through our website, mobile app, or at one of our branch locations. The application form may require clients to provide personal information, financial details, business information (if applicable), and documentation to support their loan request.

Credit Assessment: Upon receiving a loan application, our credit officers conduct a comprehensive assessment of the client’s creditworthiness, evaluating factors such as income, employment status, credit history, collateral (if applicable), and the purpose of the loan. We may also conduct background checks and verify the information provided to ensure accuracy and integrity.

Loan Approval: Once the credit assessment is complete, eligible loan applicants will receive a loan approval decision within a reasonable timeframe. Approved loans are subject to specific terms and conditions, including the loan amount, interest rate, repayment schedule, fees, and any other relevant provisions. Clients are encouraged to review the terms of their loan agreement carefully before accepting the loan offer.

Disbursement of Funds: Upon acceptance of the loan offer, funds are disbursed to the client’s designated account or provided in cash, depending on the client’s preference and the nature of the loan. Disbursement procedures are conducted in accordance with our internal policies and regulatory requirements to ensure transparency, security, and efficiency.

Post-Disbursement Support: At Kopafasta Microfinance, our commitment to client satisfaction extends beyond loan approval and disbursement. We provide ongoing support to our clients throughout the loan repayment period, offering personalized assistance, financial advice, and resources to help them manage their loan obligations effectively and achieve their financial goals.

Loan Repayment: Clients are responsible for repaying their loans according to the terms outlined in their loan agreement. We offer flexible repayment options, including weekly, bi-weekly, or monthly installments, to accommodate the cash flow needs of our clients. Our loan officers work closely with clients to develop customized repayment plans and provide guidance on budgeting and financial management.

Client Engagement: We prioritize open communication and transparency throughout the loan application and approval process, keeping clients informed of their application status, loan terms, and any relevant updates. Our dedicated team of loan officers is available to answer questions, address concerns, and provide support to clients at every stage of the lending process.

5. Loan Terms and Conditions

Upon approval, your loan will be subject to specific terms and conditions outlined in your loan agreement. These terms may include the loan amount, interest rate, repayment schedule, fees, and other relevant provisions. It is your responsibility to review and understand the terms of your loan agreement before accepting the loan offer.

At Kopafasta Microfinance, we are committed to providing transparent and fair loan terms to our clients, ensuring that they fully understand their rights and obligations before accepting a loan offer. Our loan terms and obligations encompass the following key elements:

Loan Amount: The loan amount represents the principal sum that the client is borrowing from Kopafasta Microfinance. The loan amount is determined based on the client’s creditworthiness, income level, repayment capacity, and the purpose of the loan. Clients have the flexibility to request loan amounts that align with their financing needs, subject to our maximum loan limits and lending criteria.

Interest Rate: The interest rate is the cost of borrowing funds and is expressed as a percentage of the loan amount. Kopafasta Microfinance offers competitive interest rates on its loan products, taking into account market conditions, risk factors, and regulatory requirements. The interest rate may be fixed or variable, depending on the type of loan and prevailing market conditions.

Repayment Schedule: The repayment schedule outlines the timeline and frequency of loan repayments, including the due dates for installment payments. Kopafasta Microfinance offers flexible repayment schedules tailored to the cash flow needs and preferences of our clients. Repayment schedules may be weekly, bi-weekly, or monthly, depending on the client’s repayment capacity and loan terms.

Fees and Charges: Clients may be subject to certain fees and charges associated with their loan, such as origination fees, processing fees, late payment fees, and prepayment penalties. These fees are disclosed upfront and are included in the loan agreement. Kopafasta Microfinance is committed to transparency in fee disclosure and ensures that clients are aware of all applicable charges before accepting a loan offer.

Collateral Requirements: In some cases, clients may be required to provide collateral to secure their loans. Collateral serves as security for the loan and may include assets such as property, vehicles, equipment, or savings accounts. Collateral requirements vary depending on the loan amount, risk profile, and regulatory requirements. Kopafasta Microfinance evaluates collateral based on its value, liquidity, and marketability to determine loan eligibility.

Default and Remedies: Clients are expected to fulfill their loan obligations by making timely repayments according to the terms of their loan agreement. Failure to repay the loan on time may result in default, triggering certain remedies and consequences. Kopafasta Microfinance reserves the right to take appropriate actions to recover outstanding loan amounts, including legal action, asset seizure, and credit reporting. Clients are encouraged to communicate with us if they encounter difficulties in meeting their repayment obligations, as we may be able to offer assistance or alternative arrangements.

Prepayment Options: Clients have the option to prepay their loans in full or make additional payments towards the principal balance at any time during the loan term. Prepayment options provide clients with flexibility and the opportunity to reduce interest costs and shorten the loan term. Kopafasta Microfinance does not impose prepayment penalties or fees, allowing clients to manage their loans more effectively and save on interest expenses.

Loan Agreement: The loan agreement is a legally binding contract between Kopafasta Microfinance and the client, outlining the rights and obligations of both parties. The loan agreement contains detailed terms and conditions, including the loan amount, interest rate, repayment schedule, fees, collateral requirements, default provisions, and other relevant provisions. Clients are required to review and sign the loan agreement before accepting the loan offer, acknowledging their understanding and acceptance of the terms outlined therein.

 

6. Repayment Obligations

At Kopafasta Microfinance, we prioritize responsible lending practices and expect our clients to fulfill their repayment obligations in a timely manner. Repayment obligations encompass the following key aspects:

Timely Repayment: Clients are required to repay their loans according to the terms outlined in their loan agreement. This includes making regular installment payments on or before the due dates specified in the repayment schedule. Timely repayment is essential to maintain a positive credit history, avoid default, and build trust with Kopafasta Microfinance.

Payment Methods: Kopafasta Microfinance offers multiple payment methods to facilitate loan repayments and ensure convenience for our clients. Payment methods may include bank transfers, mobile money transfers, cash payments at branch locations, or automated deductions from savings accounts within strategic partners institutions. Clients are encouraged to choose the payment method that best suits their preferences and circumstances.

Repayment Channels: Clients have the flexibility to repay their loans through various repayment channels, including in-person payments at branch locations, online payments through our website or mobile app, or third-party payment platforms. Kopafasta Microfinance provides accessible and user-friendly repayment channels to accommodate the diverse needs of our clients and facilitate seamless loan repayments.

Partial Payments: Clients may have the option to make partial payments towards their loan balance in addition to regular installment payments. Partial payments allow clients to reduce their outstanding loan balance, decrease interest costs, and accelerate the repayment process. Kopafasta Microfinance accepts partial payments and applies them towards the principal balance, helping clients achieve financial freedom sooner.

Late Payments: Clients are responsible for ensuring that their loan payments are made on time to avoid late payment fees and penalties. In the event of late payments, Kopafasta Microfinance may impose late payment fees or interest charges as specified in the loan agreement. Clients are notified of any overdue payments and encouraged to communicate with us if they encounter difficulties in meeting their repayment obligations.

Communication and Assistance: Kopafasta Microfinance values open communication and encourages clients to proactively communicate with us regarding any changes in their financial situation or challenges in meeting their repayment obligations. Our dedicated team of loan officers is available to provide assistance, guidance, and support to clients experiencing financial difficulties. We may explore alternative repayment arrangements or solutions to help clients overcome temporary setbacks and stay on track with their loan repayments.

Loan Tracking and Reporting: Kopafasta Microfinance provides clients with access to loan tracking tools and statements to monitor their loan repayment status and track their progress over time. Clients can review their repayment history, outstanding balances, and upcoming payments through our digital platforms or by contacting our customer service team. Transparency in loan tracking and reporting enables clients to stay informed and actively manage their loan obligations.

Loan Completion: Upon full repayment of the loan, clients receive confirmation of loan completion and may be eligible for additional loan products or benefits. Kopafasta Microfinance recognizes and rewards clients who demonstrate responsible borrowing behavior and fulfill their repayment obligations. Loan completion marks a significant milestone in the client’s financial journey and reflects their commitment to financial empowerment and success.

7. Privacy and Data Protection

At Kopafasta Microfinance, we are committed to protecting the privacy and confidentiality of our clients’ personal information. We recognize the importance of safeguarding sensitive data and maintaining the trust and confidence of our clients. Our approach to privacy and data protection encompasses the following key principles and practices:

Data Collection: Kopafasta Microfinance collects personal information from clients for the purpose of providing financial products and services, assessing creditworthiness, complying with regulatory requirements, and improving the client experience. Personal information may include, but is not limited to, names, contact details, identification documents, financial records, employment information, and transaction history.

Purpose Limitation: We collect and process personal information only for specified and legitimate purposes and do not use or disclose data for purposes incompatible with the original purpose of collection. Personal information is used to fulfill contractual obligations, administer accounts, process transactions, communicate with clients, and improve our products and services. We obtain consent from clients before using their personal information for marketing or promotional purposes.

Data Security: Kopafasta Microfinance employs robust security measures to protect personal information from unauthorized access, disclosure, alteration, and destruction. We implement physical, technical, and administrative safeguards, such as encryption, access controls, firewalls, and intrusion detection systems, to safeguard data integrity and confidentiality. Our security protocols are regularly reviewed and updated to mitigate emerging threats and vulnerabilities.

Data Minimization: We limit the collection and retention of personal information to the extent necessary to fulfill the purposes for which it was collected. We do not collect more data than is required for the provision of financial services and do not retain data for longer than is necessary for legal or business purposes. We adhere to data minimization principles to reduce the risk of unauthorized access or misuse of personal information.

Data Accuracy: Kopafasta Microfinance strives to maintain the accuracy and completeness of client data to ensure its relevance and reliability for decision-making purposes. We provide clients with opportunities to review, update, and correct their personal information to ensure its accuracy and completeness. Clients are encouraged to notify us of any changes to their personal information to facilitate accurate record-keeping and account management.

Data Retention: We retain personal information only for as long as necessary to fulfill the purposes for which it was collected, comply with legal obligations, and protect the rights and interests of our clients and stakeholders. Upon the expiration of the retention period, we securely dispose of or anonymize personal information in accordance with applicable data retention policies and procedures.

Third-Party Disclosure: Kopafasta Microfinance may share personal information with third-party service providers, partners, and regulatory authorities as necessary to deliver financial services, process transactions, conduct credit assessments, and comply with legal requirements. We enter into data processing agreements with third parties to ensure the confidentiality and security of personal information and require them to adhere to our privacy and security standards.

Client Rights: Clients have the right to access, rectify, delete, or restrict the processing of their personal information, subject to applicable legal requirements. Kopafasta Microfinance respects the privacy rights of clients and provides mechanisms for exercising these rights, including through online account management tools, written requests, or contacting our data protection officer. We respond to client requests in a timely manner and take appropriate measures to address privacy concerns and inquiries.

Transparency and Accountability: We are transparent about our data processing activities, privacy practices, and policies governing the collection, use, and disclosure of personal information. We provide clients with clear and concise privacy notices, consent forms, and terms of service to inform them of their privacy rights and obligations. We appoint a data protection officer responsible for overseeing compliance with data protection laws and regulations and handling privacy-related inquiries and complaints.

Compliance and Oversight: Kopafasta Microfinance adheres to applicable data protection laws and regulations, including the Tanzania Data Protection Act, and other relevant industry standards and best practices. We conduct periodic audits and assessments of our data processing activities to ensure compliance with legal requirements and identify areas for improvement. We cooperate with regulatory authorities and industry bodies to uphold privacy standards and promote data protection across the financial services sector.

8. Intellectual Property Rights

Kopafasta Microfinance recognizes the importance of intellectual property rights in protecting the unique ideas, innovations, and creative works developed by our organization. We are committed to upholding intellectual property rights and respecting the intellectual property of others. Our approach to intellectual property rights encompasses the following key principles and practices:

Ownership and Protection: Kopafasta Microfinance asserts ownership rights over its intellectual property, including trademarks, logos, trade names, domain names, patents, copyrights, and proprietary software. We take proactive measures to protect our intellectual property from unauthorized use, imitation, or infringement by third parties. We register our trademarks and logos with the appropriate intellectual property offices to establish legal rights and prevent unauthorized use or misappropriation.

Use of Intellectual Property: Kopafasta Microfinance grants limited rights to use its intellectual property to authorized individuals, employees, partners, and stakeholders for specific purposes related to the provision of financial services and the promotion of our brand. Authorized use of our intellectual property must comply with applicable laws, regulations, and internal policies, and require prior written consent from Kopafasta Microfinance. Any unauthorized use, reproduction, modification, or distribution of our intellectual property is strictly prohibited and may result in legal action.

Trademark Protection: Our trademarks and logos serve as valuable assets that distinguish our brand and products from those of competitors. Kopafasta Microfinance protects its trademarks and logos from unauthorized use or infringement by monitoring the marketplace, enforcing trademark rights, and taking legal action against infringers. We maintain a trademark portfolio comprising registered and unregistered trademarks to safeguard our brand identity and reputation.

Copyright Protection: Kopafasta Microfinance respects the copyright laws and regulations governing the protection of creative works, including website content, marketing materials, software code, and digital assets. We obtain appropriate licenses and permissions for the use of copyrighted materials owned by third parties and respect the rights of content creators and copyright holders. We enforce copyright protections through digital rights management, copyright notices, and legal remedies against copyright infringement.

Confidential Information: Kopafasta Microfinance treats confidential information, trade secrets, and proprietary data as valuable assets that require protection from unauthorized disclosure, misuse, or exploitation. We implement confidentiality agreements, non-disclosure agreements, and data security measures to safeguard confidential information and prevent unauthorized access or disclosure. Confidential information may include business plans, financial data, customer information, and proprietary technology.

Intellectual Property Policy: Kopafasta Microfinance maintains an intellectual property policy that outlines the rights and responsibilities of employees, partners, contractors, and third parties regarding the use, protection, and enforcement of intellectual property rights. Our intellectual property policy establishes procedures for obtaining consent, licensing, and enforcing intellectual property rights and provides guidance on compliance with intellectual property laws and regulations.

Enforcement and Remedies: Kopafasta Microfinance enforces its intellectual property rights through legal remedies, including cease and desist letters, injunctions, and litigation, against parties that infringe or misappropriate our intellectual property. We collaborate with intellectual property attorneys, law enforcement agencies, and regulatory authorities to investigate and prosecute cases of intellectual property infringement and protect our intellectual property assets.

Educational Initiatives: Kopafasta Microfinance educates employees, partners, stakeholders, and the public about intellectual property rights, responsibilities, and best practices through training programs, workshops, and awareness campaigns. We raise awareness about the importance of intellectual property protection, the risks of infringement, and the benefits of respecting intellectual property rights to promote a culture of innovation, creativity, and respect for intellectual property.

9. Limitation of Liability

Kopafasta Microfinance strives to provide reliable and secure financial services to our clients, but we recognize that there may be circumstances beyond our control that could impact service delivery or result in potential losses. Our limitation of liability provisions are designed to establish clear parameters for our liability and responsibilities in such situations. Key aspects of our limitation of liability include:

Service Interruptions: While we make every effort to maintain the availability and reliability of our financial services, there may be instances of service interruptions, downtime, or technical issues that affect our ability to deliver services. Kopafasta Microfinance shall not be liable for any losses, damages, or inconveniences resulting from service interruptions caused by factors such as system maintenance, hardware or software failures, network outages, or force majeure events beyond our control.

Financial Risks: Clients acknowledge and accept the inherent financial risks associated with borrowing, saving, and investing activities. Kopafasta Microfinance shall not be liable for any losses, damages, or financial consequences arising from market fluctuations, economic conditions, currency devaluation, inflation, interest rate changes, default by borrowers, or other financial risks inherent in the provision of financial services.

Third-Party Providers: Kopafasta Microfinance may engage third-party service providers, partners, or vendors to facilitate the delivery of certain financial services, such as payment processing, data hosting, or credit scoring. While we exercise due diligence in selecting reputable and reliable partners, we shall not be liable for any acts, omissions, or breaches of contract by third-party providers that may result in losses, damages, or liabilities to our clients.

Indirect Damages: In no event shall Kopafasta Microfinance be liable for any indirect, incidental, consequential, or punitive damages, including but not limited to lost profits, loss of data, business interruption, or reputational harm, arising from the use or inability to use our financial services, even if we have been advised of the possibility of such damages. Our liability shall be limited to the extent permitted by law and shall not exceed the total fees paid by the client for the specific services provided.

Exclusions of Warranties: Kopafasta Microfinance provides financial services on an “as is” and “as available” basis, without warranties or representations of any kind, express or implied. We do not warrant the accuracy, completeness, reliability, or suitability of our financial services for any particular purpose. Clients acknowledge that the use of our financial services is at their own risk and discretion.

Legal Compliance: Kopafasta Microfinance shall not be liable for any losses, damages, or liabilities arising from the client’s failure to comply with applicable laws, regulations, or contractual obligations. Clients are responsible for ensuring compliance with legal and regulatory requirements related to the use of financial services, including but not limited to anti-money laundering laws, consumer protection regulations, and tax obligations.

Notice and Dispute Resolution: Clients agree to notify Kopafasta Microfinance promptly of any claims, disputes, or incidents that may give rise to liability under these terms. Any disputes or claims arising from the use of our financial services shall be resolved through good faith negotiation, mediation, or arbitration in accordance with applicable laws and regulations. Clients waive any rights to pursue claims through class action lawsuits or jury trials.

Severability and Survival: If any provision of these terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect to the extent permitted by law. The limitation of liability provisions, disclaimers, and exclusions of warranties shall survive the termination or expiration of the client’s use of our financial services.

Amendments: Kopafasta Microfinance reserves the right to amend or modify these limitation of liability provisions at any time without prior notice. Any changes to these provisions will be communicated to clients through our website, mobile app, or other appropriate channels. Clients are encouraged to review these provisions periodically to stay informed of any updates or amendments.

Client Acknowledgment: By using our financial services, clients acknowledge and agree to the limitation of liability provisions outlined herein. Clients accept these provisions as a fundamental aspect of their relationship with Kopafasta Microfinance and acknowledge that they have read, understood, and agreed to be bound by these provisions.

Contact Us: If you have any questions, concerns, or inquiries regarding our limitation of liability provisions or any other aspect of our financial services, please contact us at [contact information].

10. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of Tanzania. Any disputes arising out of or relating to these Terms or your use of our Services shall be resolved through arbitration in accordance with the rules of the Tanzanian Arbitration Association.

11. Changes to Terms

At Kopafasta Microfinance, we strive to continuously improve and adapt our services to meet the evolving needs of our clients and regulatory requirements. As part of our commitment to transparency and accountability, we may need to update or modify these terms of service from time to time. The Changes of Terms segment outlines our approach to making changes and communicating updates to our clients:

Notification of Changes: Whenever we make changes to these terms of service, we will notify our clients through prominent notices on our website, mobile app, or other communication channels. We will provide a summary of the changes and highlight any material revisions that may impact the rights or obligations of our clients. Clients are encouraged to review the updated terms and familiarize themselves with any modifications that may affect their use of our services.

Effective Date: Changes to these terms of service will take effect on the date specified in the notice or as otherwise communicated to clients. We may provide a grace period during which clients can review the updated terms and decide whether to accept or reject the changes. By continuing to use our services after the effective date of the updated terms, clients acknowledge and agree to be bound by the revised terms of service.

Client Consent: In some cases, we may require clients to provide explicit consent or acceptance of the updated terms before they can continue using our services. This may involve clicking an “I agree” button, checking a box to indicate acceptance, or otherwise confirming their consent to the updated terms. Clients have the option to reject the changes and discontinue their use of our services if they do not agree with the updated terms.

Material Changes: We will strive to provide advance notice of material changes to these terms of service that significantly impact the rights or obligations of our clients. Material changes may include modifications to fees, service offerings, privacy practices, dispute resolution procedures, or limitation of liability provisions. We will ensure that clients have sufficient time and information to review and assess the implications of material changes before they take effect.

Client Feedback: We welcome feedback and input from our clients regarding proposed changes to these terms of service. Clients are encouraged to contact us with any questions, concerns, or suggestions regarding the proposed changes. We will consider client feedback in our decision-making process and strive to address any legitimate concerns raised by our clients.

Continued Use: By continuing to use our services after the effective date of the updated terms, clients indicate their acceptance and agreement to be bound by the revised terms of service. Clients have the option to terminate their use of our services if they do not agree with the updated terms or prefer not to accept the changes. Termination of services may be subject to applicable termination provisions and procedures outlined in these terms of service.

Transparency and Communication: Kopafasta Microfinance is committed to transparency and open communication regarding changes to these terms of service. We will strive to provide clear and timely notifications, summaries of changes, and opportunities for client feedback to ensure that clients are informed and empowered to make informed decisions regarding their use of our services.

12. Contact Us

If you have any questions, concerns, or feedback regarding these Terms or our Services, please contact us at info@kopafasta.co.tz

Thank you for choosing Kopafasta Microfinance!