Terms and Conditions

1. Introduction

Welcome to Cocofinance ("we," "us," or "our"). These Terms and Conditions govern your use of our website, loan application services, and related products. By accessing or using our services, you agree to be bound by these Terms and Conditions.

2. Definitions

• Services: All products, services, and features offered by Cocofinance, including loan applications, broker portal, and customer dashboard.
• User: Any individual or entity that accesses or uses our Services.
• Borrower: A user who applies for or receives a loan through our platform.
• Broker: An authorized credit broker partner registered on our platform.
• Agreement: These Terms and Conditions, together with our Privacy Policy.

3. Eligibility

3.1 General Requirements

To use our Services, you must:

• Be at least 18 years of age
• Be a South African citizen or permanent resident
• Have a valid South African ID document
• Have a valid email address and phone number
• Provide accurate and complete information

3.2 Loan Eligibility

To qualify for a loan, you must additionally:

• Have a regular source of income
• Have a valid bank account
• Meet our credit assessment criteria
• Not be under debt review or administration

4. Loan Application and Approval

4.1 Application Process

Submitting a loan application does not guarantee approval. All applications are subject to credit checks, verification, and our internal approval processes.

4.2 Credit Checks

By applying for a loan, you authorize us to:

• Conduct credit checks with credit bureaus
• Verify your identity and employment
• Contact your references
• Assess your creditworthiness

4.3 Approval and Disbursement

Upon approval, loan funds will be disbursed to your designated bank account within 24-48 hours. Actual disbursement time may vary depending on banking processes.

5. Loan Terms

5.1 Interest Rates

Interest rates are determined based on your credit profile and loan type. All rates comply with the National Credit Act (NCA) regulations. The exact interest rate will be clearly stated in your loan agreement.

5.2 Repayment

Repayments must be made according to the schedule specified in your loan agreement. Late payments may result in:

• Late payment fees
• Negative impact on your credit score
• Legal action for recovery
• Termination of future loan eligibility

5.3 Early Repayment

You may repay your loan early without penalty. Early repayment may reduce the total interest payable.

6. Fees and Charges

All applicable fees will be disclosed in your loan agreement, including:

• Initiation fees
• Monthly service fees
• Late payment fees
• Collection costs (if applicable)

All fees comply with National Credit Act regulations and will not exceed the maximum amounts permitted by law.

7. User Responsibilities

7.1 Account Security

You are responsible for:

• Maintaining the confidentiality of your login credentials
• All activities that occur under your account
• Notifying us immediately of any unauthorized use

7.2 Accurate Information

You must:

• Provide accurate and complete information
• Update your information when it changes
• Not provide false or misleading information

7.3 Prohibited Activities

You must not:

• Use the Services for any illegal purpose
• Attempt to gain unauthorized access to our systems
• Transmit viruses or malicious code
• Interfere with the proper functioning of the Services
• Impersonate another person or entity

8. Privacy and Data Protection

Your privacy is important to us. Our collection, use, and protection of your personal information is governed by our Privacy Policy, which complies with the Protection of Personal Information Act (POPIA).

9. Intellectual Property

All content, trademarks, logos, and intellectual property on our platform are owned by Cocofinance or our licensors. You may not use, reproduce, or distribute any content without our written permission.

10. Disclaimer of Warranties

Our Services are provided "as is" and "as available." We make no warranties, express or implied, regarding:

• The accuracy or completeness of information
• Uninterrupted or error-free service
• Loan approval or specific terms

11. Limitation of Liability

To the maximum extent permitted by law, Cocofinance shall not be liable for:

• Indirect, incidental, or consequential damages
• Loss of profits, data, or goodwill
• Service interruptions or technical issues

12. Regulatory Compliance

Cocofinance operates in compliance with:

• National Credit Act (NCA), 2005
• Protection of Personal Information Act (POPIA), 2013
• Financial Intelligence Centre Act (FICA), 2001
• National Credit Regulator (NCR) requirements

13. Termination

13.1 By You

You may terminate your account at any time, subject to fulfilling all outstanding loan obligations.

13.2 By Us

We reserve the right to suspend or terminate your access if you:

• Violate these Terms and Conditions
• Provide false information
• Engage in fraudulent activity
• Fail to make loan repayments

14. Dispute Resolution

14.1 Complaints Process

If you have a complaint, please contact us at:

• Email: complaints@cocofinance.co.za
• Phone: 071 700 1758

14.2 Escalation

If we cannot resolve your complaint, you may escalate it to:

• National Credit Regulator (NCR)
  Tel: 011 554 2600
  Email: complaints@ncr.org.za

14.3 Governing Law

These Terms and Conditions are governed by the laws of South Africa. Any disputes shall be subject to the exclusive jurisdiction of South African courts.

15. Changes to Terms

We reserve the right to modify these Terms and Conditions at any time. Changes will be effective upon posting to our website. Continued use of our Services after changes constitutes acceptance of the new Terms.

16. Contact Information

For questions about these Terms and Conditions, please contact us:

17. Severability

If any provision of these Terms and Conditions is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

18. Entire Agreement

These Terms and Conditions, together with our Privacy Policy, constitute the entire agreement between you and Cocofinance regarding the use of our Services.