OVERVIEW

This Agreement sets out the complete Terms and Conditions (hereinafter called “these Terms and Conditions”) which shall be applicable to the Pigi Sacco App (as hereinafter defined) opened by you (as hereinafter defined) with Pigi Sacco (as hereinafter defined).

These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.

ACCEPTANCE OF THE TERMS AND CONDITIONS

Before applying to open the Pigi Sacco account via the Pigi Sacco App you should carefully read and understand these Terms and Conditions which will govern the use and operation of the Pigi Sacco account.

You will be deemed to have read, understood and accepted these Terms and Conditions:-

• Upon clicking on the “Accept” option on the Pigi Sacco App Menu requesting you to confirm that you have read, understood and agreed to abide with these Terms and Conditions; and/or
• By using or continuing to use and operate the Pigi Sacco

By applying to open the Pigi Sacco account, you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Pigi Sacco account and you affirm that these Terms and Conditions herein are \without prejudice to any right that Pigi Sacco may have with respect to the Pigi Sacco account in law or otherwise.

These Terms and Conditions may be amended or varied by Pigi Sacco from time to time and the continued use of your Pigi Sacco account constitutes your agreement to be bound by the terms of any such amendment or variation.

You acknowledge and accept that Pigi Sacco offers the Pigi Sacco App only electronically and you agree to do business with Pigi Sacco and to operate the Pigi Sacco account only by electronic means via the Pigi Sacco App Menu on the System. Any query and complaint you may have relating to the Services shall be addressed to Pigi Sacco .

That by using the Pigi Sacco App, all signatures will be electronic and will be stored in an encrypted database. The information to be captured will include: the device/machine from which the App is accessed from, the person who signed and the time and date when the same was captured.

ACCOUNT OPENING

You may open a Pigi Sacco account solely by way of an electronic application made by you using your device via the Pigi Sacco App Menu on the Pigi Sacco App System.

You hereby agree and authorize Pigi Sacco to request for your personal information including your phone number, name, date of birth, ID or Passport Number and such other information that will enable the Sacco to identify you and comply with the regulations.

You hereby agree and authorize the Sacco to obtain and procure your Personal Information contained in the IPRS from the Government of Kenya and you further agree and consent to the disclosure and provision of such Personal Information by the Government of Kenya to Pigi Sacco .

You hereby further acknowledge and authorize the Pigi Sacco system to verify your Personal Information against the information received from the Government of Kenya in your respect as contained in the IPRS.

Pigi Sacco on behalf of its partners reserves the right to request for further information from you pertaining to your application for a Pigi Sacco account at any time. Failure to provide such information within the time required by Pigi Sacco may result in Pigi Sacco declining to accept your application for a Pigi Sacco account.

Acceptance by Pigi Sacco of your application for a Pigi Sacco account shall be done via a text message to the number used during account opening.

Pigi Sacco reserves the right to decline your application for a Pigi Sacco account or to revoke the same at any stage at Pigi Sacco ’s sole discretion and without assigning any reason or giving any notice thereto.

CUSTOMER’S RESPONSIBILITIES

You shall at your own expense provide and maintain in safe and efficient operating order your device necessary for the purpose of accessing the System and the Services.

You shall be responsible for ensuring the proper performance of your device. Pigi Sacco Sacco shall neither be responsible for any errors or failures caused by any malfunction of your device, and nor shall the Sacco be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the device.

You shall be responsible for charges due to any service provider providing you with connection to the Network and Pigi Sacco shall not be responsible for losses or delays caused by any such service provider.

You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by Pigi Sacco concerning the use of the System and Services.

You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your device and for keeping your Pigi Sacco App PIN secret and secure. You shall ensure that your PIN does not become known or come into possession of any unauthorized person. Pigi Sacco shall not be liable for any disclosure of your Pigi Sacco App PIN to any third party and you hereby agree to indemnify and hold Pigi Sacco harmless from any losses resulting from any Pigi Sacco App PIN disclosure.

You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from Pigi Sacco are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected.

You shall immediately inform Pigi Sacco in the event that:

You have reason to believe that your Pigi Sacco App PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or

You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.

You shall at all times follow the security procedures notified to you by Pigi Sacco from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Pigi Sacco account’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.

You shall not at any time operate or use the Services in any manner that may be prejudicial to Pigi Sacco .

EXCLUSION OF LIABILITY

Pigi Sacco shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of (a) the failure of any of your device, or (b) any other circumstances whatsoever not within Pigi Sacco ’s control including, without limitation, force majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action device failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

Pigi Sacco will not be liable for any losses or damage suffered by you as a result of or in connection with :-

• Unavailability of sufficient funds in your Pigi Sacco account;
• Failure, malfunction, interruption or unavailability of the System, your device, the Network, Service and/or System
• The money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof;
• Your failure to give proper or complete instructions for payments or transfers relating to your Pigi Sacco account;
• Any fraudulent or illegal use of the Services, the System and/or your device; or
• Your failure to comply with these Terms and Conditions and any document or information provided by Pigi Sacco concerning the use of the System and the Services.

If for any reason other than a reason mentioned in subparagraphs above, The Services are interfered with or unavailable, Pigi Sacco ’s sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.

Save as provided in subparagraph above Pigi Sacco shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.

Under no circumstances shall Pigi Sacco be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Pigi Sacco .

All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

INTELLECTUAL PROPERTY RIGHTS

You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that Pigi Sacco provides to you through the System or otherwise are vested either in Pigi Sacco or in other persons from whom Pigi Sacco has a right to use and to sub-license the System and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of Pigi Sacco.

INDEMNITY

In consideration of Pigi Sacco complying with your instructions or Requests in relation the Pigi Sacco account, you undertake to indemnify Pigi Sacco and hold it harmless against any loss, charge, damage, expense, fee or claim which Pigi Sacco suffers or incurs or sustains thereby and you absolve Pigi Sacco from all liability for loss or damage which you may sustain from Pigi Sacco acting on your instructions or requests or in accordance with these Terms and Conditions.

The indemnity shall also cover the following:

• All demands, claims, actions, losses and damages of whatever nature which may be brought against Pigi Sacco or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or device, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond Pigi Sacco ’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Pigi Sacco .
• Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.
• Any unauthorized access to your Pigi Sacco account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your device.
• Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Pigi Sacco as a consequence of any breach by these Terms and Conditions.
• Any damages and costs payable to Pigi Sacco in respect of any claims against Pigi Sacco for recompense for loss where the particular circumstance is within your

VARIATION AND TERMINATION OF RELATIONSHIP

Pigi Sacco may at any time, upon notice to you, terminate or vary its business relationship with you and close your Pigi Sacco account and in particular but without prejudice to the generality of the foregoing Pigi Sacco may cancel credits which it has granted and require the repayment of outstanding debts resulting there from within such time as Pigi Sacco may determine.

Without prejudice to Pigi Sacco rights under clause 9.1, Pigi Sacco may at its sole discretion suspend or close your Pigi Sacco account:

• If you use the Pigi Sacco account for unauthorized purposes or where Pigi Sacco detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
• If Pigi Sacco reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan

amount due from you where applicable);

• where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety;
• To facilitate update or upgrade the contents or functionality of the Services from time to time;
• Where you remain inactive for any period of time determined by Pigi Sacco in its reasonable discretion; or
• If Pigi Sacco decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.

ACCOUNT CLOSURE

You may close your Pigi Sacco account at any time.

If your Pigi Sacco account has any credit balance at the time of its closure, we will return any such balance to you, less any applicable fees. If your Pigi Sacco App Loan Account is in arrears at the time of closure of your Account, you agree to pay to us immediately all amounts you owe us.

Termination shall however not affect any accrued rights and liabilities of either party.

If Pigi Sacco receives notice of your demise, Pigi Sacco will not be obliged to allow any operation or withdrawal from your Pigi Sacco account by any person except upon production of Grants of Letters of Administration or Probate by your legal representatives duly appointed by the Court.

DISCLOSURE OF INFORMATION

You hereby expressly consent and authorize Pigi Sacco to disclose receive record or utilize your personal information or information or data relating to your Pigi Sacco account and any details of your use of the Services:

• To and from any local or international law enforcement or competent regulatory or governmental agencies so as to assist in the prevention,

detection, investigation or prosecution of criminal activities or fraud;

• To Pigi Sacco ’s lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;

MISCELLANEOUS

These Terms and Conditions (as may be amended from time to time) form a legally binding agreement binding on you and your personal successors.

This Agreement and any rights or liabilities accruing there under may not be assigned by you to any other person.

Pigi Sacco may vary or amend at any time and without notice to you these Terms and Conditions and the Transaction Fees. Any such variations or amendments may be published in Company’s website and/or by any other means as determined by Pigi Sacco and any such variations and amendments shall take effect immediately upon publication.

No failure or delay by either yourself or Pigi Sacco in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.

The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.

If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions herein.

Any addition or alteration to these Terms and Conditions may be made from time to time by Pigi Sacco and of which notice has been given to you by way of publication as provided in subparagraph 11.3 shall be binding upon you a fully as if the same were contained in these Terms and Conditions.

NOTICES

Pigi Sacco may send information concerning the Pigi Sacco account via text message and email used in account opening by a member.

You acknowledge that you have no claim against Pigi Sacco for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to the Pigi Sacco account.

DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION

You may contact Pigi Sacco to report any disputes, claims or Pigi Sacco account discrepancies. Any dispute arising out of or in connection with this Agreement that is not resolved by Company representatives shall be referred to arbitration by a single arbitrator to be appointed by agreement between the parties or in default of such agreement within 60 days of the notification of a dispute, upon the application of either party, by the Chairman for the time being of the Chartered Institute of Arbitrators (Kenya Branch). Such arbitration shall be conducted in the English language in Nairobi in accordance with the Rules of Arbitration of the said Institute and subject to and in accordance with the provisions of the Arbitration Act 1995.

To the extent permissible by Law, the determination of the Arbitrator shall be final, conclusive and binding upon the parties hereto.

This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.

GLOSSARY

In these Terms and Conditions the following words and expressions (save where the context requires otherwise) bear the following meanings:

“Pigi Sacco App” means a mobile and web application account opened and maintained by a customer for purposes of accessing Pigi Sacco ’s service;

“Customer” means the person in whose name a Pigi Sacco account is opened and maintained for the purposes of accessing Pigi Sacco ’s services ;

“E-Money” means the electronic monetary value depicted in your Pigi Sacco account representing an equal amount of cash;

“Device” includes your mobile phone, laptop, computer, tablet and or other devices which when used together enables you to access the Network;

“IPRS” means the Integrated Population Registration System set up and maintained by the Government of Kenya under the Ministry of State for Immigration and Registration of Persons;

“Pigi Sacco App Menu” means the Mobile App Menu on the System;

“Pigi Sacco account” means your mobile money store of value, being the record maintained by Pigi Sacco of the amount of E-Money from time to time held by you in the System;

“Service charge” means the percentage to be charged by the partners in provision of various services, which will be catered for by the client;

“Pigi Sacco App Service” means the money lending, savings and investing service provided by PIgi Sacco through the System on behalf of its partners;

“Pigi System” means the system operated by Pigi Sacco for the provision of the Pigi Sacco App Services;

“Pigi Sacco App PIN” means the unique code or identification or electronic in order to access your Pigi Sacco account;

“Pigi Sacco App Subscriber” means any person who voluntarily registers to use the Pigi Sacco App;

“Network” means the mobile cellular network operated by Network service providers in Kenya and the internet;

“Request” means a loan request, earnings withdrawal, membership withdrawal or membership request received by Pigi Sacco from you or purportedly from you through the Network and the System and upon which the Pigi Sacco is authorized to act;

“Services” shall include any form of online services or products that the App may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed accordingly;

“SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Pigi Sacco App System;

“SMS” means a short message service consisting of a text message transmitted from one mobile phone to another;

“System” means the App’s electronic communications software enabling the Customer to communicate with Pigi Sacco for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through the Pigi Sacco App System;

“We,” “our,” and “us,” means Pigi Sacco and includes the successors and assigns of Pigi Sacco;

“You” or “your” means the Customer and includes the personal representatives of the Customer;

“Partners” refers to other corporate entities that have partnered/outsourced/consulted with Pigi Sacco for their services to be offered through Pigi Sacco App.

The word “Customer” shall include both the masculine and the feminine gender as well as juristic persons;

Words importing the singular meaning where the context so admits include the plural meaning and vice versa.

Headings in these Terms and Conditions are for convenience purposes only and they do not affect the interpretation of this Agreement.