General Loan Terms and Conditions

1. Definitions

For the purposes of these Terms:

• "Borrower" means any individual or entity that applies for and receives a loan through the ZimCrowd platform.
• "Lender" means any individual or entity that provides funds for loans through the ZimCrowd platform.
• "Loan" means the principal amount advanced by Lenders to Borrowers through the Platform.
• "Platform" means the ZimCrowd peer-to-peer lending platform and associated services.
• "Interest" means any voluntary interest rate agreed upon between Borrower and Lender.

2. Loan Application and Approval

2.1 Application Process

Borrowers must:

• Complete the online application form with accurate and complete information
• Provide valid identification and proof of address
• Undergo credit assessment and verification processes
• Accept the terms of the specific loan agreement

2.2 Approval Criteria

Loan approval is subject to:

• Satisfactory credit assessment
• Verification of provided information
• Compliance with regulatory requirements
• Availability of funds from lenders

3. Loan Terms

3.1 Principal Amount

The principal amount is the original sum borrowed by the Borrower and must be repaid in full, subject to the agreed repayment schedule.

3.2 Interest Rates

Interest rates on ZimCrowd are:

• Completely voluntary and optional
• Agreed upon between individual Borrowers and Lenders
• Clearly disclosed before loan funding
• Subject to applicable regulatory limits

3.3 Repayment Terms

• Repayment schedules are agreed upon between parties
• Payments are made through the ZimCrowd platform
• Late payments may incur additional fees as agreed
• Early repayment is allowed without penalty

4. Borrower Responsibilities

Borrowers agree to:

1. Provide accurate and complete information
2. Make repayments according to the agreed schedule
3. Notify ZimCrowd of any changes in circumstances
4. Use loan funds only for stated purposes
5. Maintain communication throughout the loan term

5. Lender Responsibilities

Lenders agree to:

1. Fund loans through the approved ZimCrowd platform
2. Accept repayments as received from borrowers
3. Comply with all applicable tax obligations
4. Report income from interest payments appropriately

6. Default and Recovery

6.1 Default Definition

A loan is considered in default if:

• Payments are more than 30 days overdue
• Borrower fails to communicate regarding payment difficulties
• Borrower provides false information

6.2 Recovery Process

In case of default:

• ZimCrowd will attempt to contact the borrower
• Lenders may access ZimCrowd's Lender Protection
• Legal action may be taken if necessary
• Collection agencies may be engaged

7. Lender Protection

ZimCrowd provides Lender Protection to safeguard lender investments:

• Coverage for borrower default
• Maximum protection limits apply
• Subject to terms and conditions
• Regular updates on loan performance

8. Secondary Market Trading

Lenders may trade loan portions on the ZimCrowd Secondary Market:

• Subject to platform trading rules
• Transfer of ownership through secure platform
• Original loan terms remain unchanged
• Trading fees may apply

9. Fees and Charges

9.1 Platform Fees

• Loan processing fees (if applicable)
• Late payment fees (as agreed)
• Secondary market trading fees
• Account maintenance fees (if applicable)

9.2 Transparency

All fees are clearly disclosed before any transaction is completed.

10. Amendments

These General Loan Terms may be amended by ZimCrowd with notice to users. Material changes will be communicated via email and platform notifications.

11. Governing Law

These Terms are governed by the laws of Zimbabwe. Any disputes will be resolved through the appropriate Zimbabwean courts or alternative dispute resolution mechanisms.

12. Contact Information

For questions about these General Loan Terms, please contact:

• Email: legal@zimcrowd.com
• Phone: +263 710 467 317
• Address: 123 Samora Machel Avenue, Harare, Zimbabwe