This Terms of Service was last updated on January 16, 2024.
Our website address is: https://abranafinancials.com
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Loan administration fee of 10% is charged on the loan amount borrowed and is payable upfront. If borrower does not have the upfront application fee, it shall be deducted from the loan amount. Interest is charged on the total loan amount borrowed.
If for any reason the borrower does not effect payment in the time stipulated as per this contract or Payment Plan (Debt Acknowledgement - Annexure 1), the debtor shall be held to be in default. Abrana Financial Services P/L shall charge the borrower interest at the default rate of multiple of 1.5 of interest charged per day calculated from the 3rd day from the date of borrowing.
Any payment made by the debtor shall first be applied towards interest accrued and the balance thereof shall reduce the capital loan advanced. Interest shall be capitalized on a daily basis.
Payment shall be done through our agents by CASH.
Debtors must get official receipts for all cash payments from Abrana Financial Services P/L Agents.
Debtor must disclose other borrowings done from other Abrana Financial Services Agents or branches. Any over indebtedness as a result of non-disclosure, will not be the responsibility of Abrana Financial Services P/L
In the event of any default, the debtor shall be responsible for all recovery costs including legal fees on an attorney – client scale together with collection commission at the rate of 10% of the collected amount.
In the event of any breach or any dispute relating to this loan agreement including an order for specific performance or a declaratory order for the disposal of the pledged surety or goods, I specifically consent to the jurisdiction of the Magistrate Court of Zimbabwe sitting at Harare to determine this matter.
The borrower shall authorize and unequivocally consent that in the event of default of repayment as agreed, then the pledged property shall be sold by private treaty for the company to recover its money together with interest and any other incidental costs including legal costs on an attorney-client scale.
Loan payments must be done through cash. Abrana Financial Services P/L reserves the right to pay out any loan application in cash, bank transfer or any other electronic means, which transfers maybe made from any of Abrana Financial Services’ bank accounts or its partnering company’s bank accounts.
