1.1 Definitions
For the purposes of this Agreement and the preamble above, unless the context requires otherwise:
Acceptable Use Restrictions: Meaning given in clause 5;
Agreement: This Agreement;
Business Day: A day other than a Saturday, Sunday, or national/public holiday in Tanzania;
Credentials: Your personal credentials used to access the App and operate your Account;
Credit Reference Bureau: A bureau licensed for collecting and sharing customer credit information;
E-Money: The electronic monetary value in your Mobile Money Account representing an equal amount of cash;
Equipment: Your mobile phone handset, SIM Card, and/or other equipment used to access the Network;
Event of Default: Meaning given in clause 11.1;
Force Majeure: Events beyond the reasonable control of Galaxy Credit making performance inadvisable, impracticable, illegal, or impossible;
Encumbrance: Any mortgage, charge, lien, security interest, pledge, or other restriction securing payment of any obligation;
Licence Restrictions: Meaning given in clause 4;
Loan: The principal amount of the loan made or to be made by Galaxy Credit to you under this Agreement;
Mobile Money Account: Your mobile money store of value maintained by Mobile Money Providers in Tanzania;
Mobile Money: The money transfer and payments service operated by the Mobile Money Providers in Tanzania;
Mobile Network Operator: A mobile network operator in Tanzania registered with the Communications Authority of Tanzania;
Mobile Money Provider: A Mobile Network Operator authorized by the Central Bank of Tanzania to offer Mobile Money Services in Tanzania;
Mobile Money Service: The money transfer and payments service provided by the Mobile Money Providers;
Mobile Money System: The system operated by the Mobile Money Providers for providing the Mobile Money Service;
Network: A mobile cellular network operated by a Mobile Network Operator;
Privacy Policy: Galaxy Credit's privacy policy for processing personal data;
Request: A request or instruction received by Galaxy Credit from you through the Network and System;
Services: Any financial services or products offered by Galaxy Credit under this Agreement;
SIM Card: The subscriber identity module enabling access to the Network and use of the Mobile Money Account;
SMS: Short message service text message transmitted from your mobile phone;
System: Galaxy Credit's electronic communications software for the Services;
Technology: Meaning given in clause 3.1.4;
Transaction Fees: Fees and charges payable for using the Services, subject to change at Galaxy Credit's discretion;
Data Protection Act: The applicable laws regulating personal data processing and rights of data subjects in Tanzania.
1.2 Interpretation
1.2.1 In addition to the definitions in clause 1.1, unless the context requires otherwise:
The singular includes the plural and vice versa;
A reference to any gender includes the other two;
Headings and sub-headings are for convenience only and not for interpretation;
The recitals and schedules are part of this Agreement.
Acceptance of Terms and Conditions
2.1 You must carefully read and understand these Terms and Conditions before downloading or streaming the App or opening an account.
2.2 By clicking "Accept" on the App, you accept these Terms and Conditions. If you do not agree, click "Decline," and you will not be able to access the Services.
2.3 By downloading the App and opening an Account with Galaxy Credit, you agree to comply with these Terms and Conditions.
2.4 These Terms and Conditions may be amended by Galaxy Credit from time to time, and continued use of the Services constitutes your agreement to be bound by any amendments. Galaxy Credit will notify you of changes.
2.5 Updates to the App may be issued through the website. Depending on the update, you may not be able to use the Services until you have downloaded the latest version of the App and accepted any new terms and conditions.
2.6 By using the App or any Services, you consent to us collecting and using technical information about your Equipment and related software to improve our products and provide Services to you.
Grant and Scope of Licence
3.1 In consideration of you agreeing to abide by this Agreement, we grant you a non-transferable, non-exclusive license to use the App on your Equipment, subject to these Terms and Conditions. We reserve all other rights. You agree:
Not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the App;
Not to make alterations to the App or permit it to be combined with any other programs;
Not to disassemble, decompile, reverse-engineer or create derivative works based on the App, except as necessary for interoperability with other software, and to not disclose or use obtained information for creating similar software;
Not to provide the App in whole or in part to any person without our prior written consent;
To comply with all technology control or export laws and regulations that apply to the Technology.
Licence Restrictions
4.1 You must:
Not use the App or any Service in any unlawful manner or for any unlawful purpose;
Not infringe our intellectual property rights or those of any third party;
Not transmit any material that is defamatory, offensive or otherwise objectionable;
Not use the App or any Service in a way that could damage, disable, overburden, impair or compromise our systems or security;
Not collect or harvest any information or data from any Service or our systems.
Acceptable Use Restrictions
5.1 Intellectual Property Rights:
You acknowledge that all intellectual property rights in the App and the Technology belong to us or our licensors, and you have no rights other than the right to use them in accordance with this Agreement.
5.2 Use of the Services:
5.2.1 The Services can only be utilized by persons over the age of 18. Galaxy Credit reserves the right to verify the authenticity of your Mobile Money Account.
5.2.2 Galaxy Credit’s acceptance of your application for an Account will be displayed on the App. Acceptance by Galaxy Credit does not create any contractual relationship between you and the Mobile Money Providers beyond your Mobile Money Account terms and conditions.
5.2.3 Galaxy Credit reserves the right to decline your loan application or revoke it at any stage without assigning any reason.
5.2.4 Galaxy Credit reserves the right to issue or decline a loan and to vary the terms of any loan depending on its assessment of your credit profile.
Requests Made by the Borrower
6.1 You authorize Galaxy Credit to act on all Requests received from you through the System and hold you liable for them. Galaxy Credit may refuse to carry out any Requests at its discretion.
6.2 Galaxy Credit reserves the right to reject any loan application Request even if you have previously been issued a loan.
6.3 Galaxy Credit may accept and act upon any incomplete or ambiguous Request if it believes it can correct the information without reference to you.
6.4 Galaxy Credit shall be deemed to have acted properly and performed all obligations owed to you, even if the Request was initiated or communicated in error or fraudulently, and you shall be bound by such Requests.
6.5 Galaxy Credit may decline to act on any Request pending further enquiry or confirmation.
6.6 You release and indemnify Galaxy Credit against all claims, losses, damages, costs, and expenses arising from Galaxy Credit acting on your Requests.
6.7 Galaxy Credit shall not be liable for unauthorized transactions on your account due to knowledge or manipulation of your Credentials.
6.8 Galaxy Credit is authorized to effect orders in respect of your Account as required by any court order or competent authority.
6.9 In case of any conflict between any terms of a Request and this Agreement, this Agreement shall prevail.
Interest and Fees
7.1 The interest payable on any Loan shall be displayed on the App. Galaxy Credit may charge Transaction Fees and amend them at its discretion.
7.2 All payments shall be made in full without set-off or counterclaim, and without deduction or withholding unless required by law.
7.3 If you fail to make payments when due, Galaxy Credit may apply late fees.
7.4 If you are unable to repay the Loan within the repayment period, Galaxy Credit may approve an extension subject to payment of accrued interest. The interest charged on the extension will be displayed on your Account.
Statements
8.1 A statement and activity report in respect of your Account will be available upon request via email.
8.2 The App statement will show recent transactions in your Account.
8.3 You must check your statement carefully and notify Galaxy Credit of any errors as soon as possible.
8.4 Galaxy Credit reserves the right to rectify discrepancies in your statements without prior notice.
8.5 You will be notified of all transactions on your Account by SMS, and charges for this service may be debited to your Account.
8.6 Save for manifest errors, a statement issued in respect of your Galaxy Credit Account shall be conclusive evidence of the transactions carried out.
Taxes
9.1 All payments in connection with these Terms and Conditions are calculated without regard to any taxes payable by you. If any taxes are payable, you must pay an additional amount equal to the payment multiplied by the tax rate.
9.2 Galaxy Credit may withhold amounts in your Account if required by law or agreements with tax authorities.
Borrower's Responsibilities
10.1 You shall provide and maintain your Equipment necessary for accessing the System and Services.
10.2 Galaxy Credit shall not be responsible for any errors or failures caused by malfunctioning Equipment or any related problems.
10.3 You shall follow all instructions and terms contained in this Agreement and any documents provided by Galaxy Credit concerning the System and Services.
10.4 You shall keep your Credentials secret and secure. Galaxy Credit shall not be liable for any unauthorized disclosure of your Credentials.
10.5 You shall take precautions to detect unauthorized use of the System and Services and inform Galaxy Credit immediately if you suspect any breach.
10.6 You shall follow the security procedures notified by Galaxy Credit.
10.7 You shall not use the Services in any manner prejudicial to Galaxy Credit.