Terms and Conditions

1. Definitions
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(a) “Account” means any type of account held by a Customer with the Bank (including without limitation) any account in relation to any advance, deposit, contract, product, dealing or service established and operated between the Bank and the Customer;

(b) “Available Balance” means the amount in the Account which can be drawn by the Customer without any restriction by the Bank (such restricted amounts, including without limitation any unconfirmed credit(s), any amount(s) credited to the Account in error and/or any amount(s) which the Bank has a right of Set-Off);

(c) “Application Form” means the Bank’s form completed by the Customer in respect to the establishment and operation of an Account;

(d) “Authorised Signatory” means the Customer and/or in relation to the Customer any person(s) authorised as specified in writing by the Customer to the Bank to operate the Account on the Customer’s behalf;

(e) “Bank” means I&M Bank Limited;

(f) “Bank’s Branches” means (including the main registered office of the Bank) all places either in or outside the Republic of Kenya where the Bank’s business is operated and conducted;

(g) “Business Day” means any day on which the Bank is open for all classes of banking business (excluding statutory and other public holidays) as the Bank may determine from time to time;

(h) “Banking Hours” means the hours for which the Bank is generally open for all classes of business as may be determined by the Bank in respect of each of the Bank’s Branches from time to time;

(i) “Bank’s Tariffs” means (including but not limited to) the schedule of the charges and fees levied by the Bank in relation to the Account;

(j) “Cheque” means the cheque forms issued by the Bank to the Customer and forming part of the Chequebook;

(k) “Chequebook” means the serially numbered Cheques bound together and issued by the Bank to the Customer;

(l) “Chequebook Terms and Conditions” means the Specific Terms and Conditions relating to the use of the Cheques and the Chequebook by the Customer;

(m) “Customer” means a holder of the Account;

(n) “Debt” means all moneys, obligations and liabilities whatsoever, whether principal, interest or otherwise in Kenya Shillings or in Foreign Currency which may be due, owing or incurred by the Customer to the Bank whether present or future, actual or contingent;

(o) “Foreign Currency” means any currency howsoever denominated other than Kenya Shillings;

(p) “Kenya Shillings” means the lawful currency of the Republic of Kenya;

(q) “Mandate” means the mode of operation of the Account as specified by the Customer in the Application Form;

(r) “Security” means (including but not limited to) any agreement, mortgage, charge, pledge, lien, guarantee, indemnity, debenture and/or other security securing in whole or in part any Debt of the Customer with the Bank;

(s) “Specific Terms & Conditions” means the particular terms and conditions relating to a specific type of Account; and

(t) “Tax” means all tax levies duty charges imposts or withholdings (including, without limitation, compensating tax, drought levies, value added tax, stamp duties, service charges, National Social Security or Hospital Insurance Fund payments) together with all penalties charges and interest relating to any of them.

2. Eligibility
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The Bank may, at its sole and absolute discretion, upon due application by the Customer and subject to the General Terms and Conditions as well as any Specific Terms and Conditions in respect of an Account, open an Account for a Customer. The Bank shall not open an Account for any Customer whose name appears in any blacklist(s) (whether local or international) issued, circulated or otherwise available to the Bank from time to time.

3. Customer's Address
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The address specified by the Customer in the Application Form shall be deemed by the Bank to be the registered address of the Customer and all postal communication to the Customer shall be sent by the Bank to the said address. The Customer must notify the Bank in writing of any changes to this address.

3. Customer's Address
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The address specified by the Customer in the Application Form shall be deemed by the Bank to be the registered address of the Customer and all postal communication to the Customer shall be sent by the Bank to the said address. The Customer must notify the Bank in writing of any changes to this address.

4. Customer's Name
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The Account shall be operated by the Customer under the name(s) specified in the Application Form and all documents provided there under. The Bank shall have the right, at its sole and absolute discretion, to request the Customer for all necessary proof of the Customer’s name and any change thereof and the Bank shall be at liberty to decline to act on any or all of the Customer’s instructions until such request is met to the sole and absolute satisfaction of the Bank.

5. Customer Information
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The Bank reserves the right, at its sole and absolute discretion, at any time during the tenure of the Account to request the Customer for any information and/or documentation that the Bank may require for the establishment and/or operation of the Account.

6. Customer's Instruction
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(a) the Bank shall only be bound to act upon the Customer’s original duly executed instructions and/or documents drawn or accepted in accordance with the Mandate until such time as the Customer shall give the Bank due written notice to the contrary;

(b) instructions received after Banking Hours or on a non-Business Day shall be processed on the next Business Day. The Customer may cancel instructions provided that the Bank is not otherwise irrevocably bound to act upon such instructions and provided further that the Bank has confirmed in writing that such instructions have not yet been acted upon. The Bank shall be entitled to levy a charge as per the Bank’s Tariffs for cancelling instructions;

(c) the Bank may, subject to such requirements as it shall in its sole and absolute discretion, deem necessary and upon prior written request from the Customer, act upon oral, facsimile, electronic or any other forms of unwritten communication. The Bank shall however not be liable and the Customer shall indemnify and hold the Bank harmless if the Bank acts on instructions which have been corrupted or improperly transmitted or if the information contained in the said communication is not received or is delayed; and

(d) the Bank may refuse to act on the Customer’s instructions, if the instructions are not clear and/or if the Bank has reason to believe that the Customer did not give the instruction and/or if the Bank believes that a law, regulation, code or other duty which applies to the Bank may be broken by acting on the instructions.

7. Specimen Signatures
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The Customer shall give to the Bank, in a form acceptable to the Bank at the Bank’s sole and absolute discretion, a specimen of the signature of each Authorised Signatory. The Bank may require a fresh specimen signature in the event of a change in the Customer’s name.

8. Deposits and Credits
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(a) the Customer may deposit for credit to the Account cash, cheques and/or other instruments drawn in a manner and of a form acceptable to the Bank. The Bank shall not accept any liability for cash sent through the post. All cheques and/or other instruments sent through the post must be crossed and marked ‘Account Payee Only/Not Negotiable’ and must be made payable to the name of the Customer’s Account;

(b) any negotiable or non-negotiable instrument of whatsoever nature, shall be accepted by the Bank for deposit or collection at the sole risk of the Customer. The Bank reserves the right without prior notice to reverse any entries in the Account and debit any amounts credited in the Account in respect of any promissory notes, bills of exchange, cheques or other instruments credited to the Account which are subsequently returned unpaid for any reason whether or not the Bank has advised the Customer of such entries and credits. The reversal of such entries and debit of such amounts does not affect the right of the Bank to retain such unpaid notes, bills, cheques or instruments and to exercise in its favour all rights relating to such instruments;

(c) the Bank assumes no responsibility and shall not be liable for the value given to funds by a beneficiary or corresponding bank provided that the Bank has acted according to the Customer’s instructions;

(d) the Bank acts only as the Customer’s collecting agent and assumes no responsibility for the realisation of any items deposited with the Bank for collection; and

(e) the negotiation and collection of negotiable instruments denominated in a Foreign Currency, shall be subject to the International Chamber of Commerce Uniform Rules of Collection as presently enacted or subsequently varied and/or amended.

9. Payment of cash
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(a) the Bank shall only pay cash to the Customer upon the presentation of a cheque, where the cheque is duly signed by an Authorised Signatory;

(b) where a cheque presented by a any party other than the Customer for the payment of cash, the Bank may require confirmation from an Authorised Signatory before it makes payment to such party; and

(c) where the Authorised Signatory requests the Bank to make a payment under sub paragraph (b) above the Customer shall indemnify the Bank on a full and unqualified basis in respect of all payments made to the bearer of the cheque whether or not the money is received by the Customer and whether or not the order for payment is in fact the order of the Customer.

10. Withdrawal and Payments
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(a) subject to daily withdrawal limits (if any), a sufficient Available Balance and the Specific Terms and Conditions of the Account, the Customer may make withdrawals and/or payments from the Account; and

(b) the Customer shall not be permitted to draw against, and the Bank shall not be obliged to make payment against a cheque or other payment which has not been cleared.

11. Simultaneous order of funds
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Where the Bank receives several instructions from the Customer for withdrawals and/or payments from the Account at approximately the same time such that the aggregate amount sought to be withdrawn and/or paid exceeds the Available Balance, the Bank may in its sole and absolute discretion comply with such of the said instructions in such order and/or manner as it deems fit.

12. Bank Charges and Expenses
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The Bank shall be entitled to be paid by the Customer and shall be at liberty to debit the Account with:

(a) all expenses incurred by the Bank in clearing or attempting to clear any cheque or other payment to be credited to the Customer’s Account;

(b) interest (including default and/or additional interest if any) on any overdrawn account, loan account or on any other credit facility extended by the Bank to the Customer, at such per annum rate and computed and compounded in such manner as shall be determined by the Bank in its sole discretion(subject to the limits permitted by law). The Customer shall however be given a 30 day notice prior to any variation of the applicable interest rate.

(c) legal and/or professional charges charged, where applicable, on an advocate/client basis and incurred by the Bank in obtaining any legal and/or professional advice in connection with the Account, the preparation of any documents relating to the Customer’s credit facilities and/or any dealings by the Customer with the Bank;

(d) processing fees, commitment fees, commission charges etc. at such rates, at such times and in such manner as the Bank may from to time decide; and

(e) all other expenses and charges levied by the Bank as more particularly set out in the Bank’s Tariffs (a copy of which is available upon request).

13. Statements of Account
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(a) the Bank shall provide the Customer with a statement of the Account on a regular basis covering all the transactions made in the Account. The Bank may also (upon the Customer’s written request and payment of the requisite fee) provide the Customer with an additional statement(s) and/or provide the statement to the Customer at such intervals as the Customer and the Bank may agree;

(b) the contents of any statement issued by the Bank to the Customer, to which the Customer has not objected to within twenty-eight (28) days of receipt thereof, shall be deemed to be accepted by the Customer and shall, in the absence of any manifest error, be conclusive evidence of all the transactions made in the Account and shall not be subject to challenge by the Customer on any ground, whatsoever; and

(c) for all purposes, including any legal proceedings, a certificate signed by any director, manager and/or any authorised signatory of the Bank as to any matter relating to the Account and/or any Debt shall, in the absence of any manifest error, be conclusive evidence against the Customer in respect of the said matter and/or Debt.

14. Standing Orders / Direct Debits
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The Bank may permit the Customer to effect automatic debits or withdrawals (such as Direct Debits or Standing Orders) from the Account unless the Specific Terms and Conditions of the Account state otherwise. All such transactions shall be effected at the Bank’s discretion and the Bank reserves the right not to effect any instructions relating to a Direct Debit or Standing Order where there is an insufficient Available Balance

15. Accounting and Transmission Errors
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(a) the Bank reserves the right without prior notice to the Customer, to debit any amount(s) credited to the Account in error and/or reverse any entry made to the Account in error. The Bank accepts no responsibility for the consequences of such debits and/or reversals. Any amount(s) credited by the Bank to the Account in error and utilised by the Customer must be repaid to the Bank together with all applicable interest accrued thereon within twenty-four (24) hours of demand being made by the Bank to the Customer; and

(b) payment orders, exchange operations and sales and purchases of securities in Kenya or elsewhere, undertaken by the Bank for the account of the Customer shall be at the Customer’s own expense. Neither the Bank nor any of its correspondents nor any of its employees shall be liable for any mutilation, corruption (including without limitation, cables, airlines, courier services, electronic mail, telex or facsimile systems) howsoever occurring.

16. Interest
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(a) Interest shall only be payable on the credit balance in an interest earning Account. Interest shall be calculated at such rate as the Bank may determine and vary from time to time subject to the Banking (Amendment) Act 2016 as may be amended from time to time;

(b) interest shall be paid and credited to the Account in such manner as specified in the Specific Terms and Conditions of the Account; and

(c) interest shall be calculated on gross and any Tax that the Bank is required to pay shall be debited from the Account.

17. Credit Facilities extended by the bank to the customer
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Upon due application by the Customer, the Bank may, at its sole and absolute discretion, extend credit facilities to the Customer in such manner and upon such terms and conditions as the Bank may determine. The Bank shall be entitled to debit the Account with all interest, commission, costs, expenses and other charges (including banking and legal charges) incurred in connection with the extension of such credit facilities.

18. Repayment of overdrawn Accounts
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(a) the Customer must not draw the Account below the prescribed minimum balance of the Account (or exceed the limit of any overdraft facility extended and approved by the Bank in respect of the Account) without the Bank’s prior written consent. The Bank shall be at liberty at its sole and absolute discretion to refuse to honour a cheque, make a payment and/or allow a withdrawal if the effect of the same would be to either cause the Account to be drawn below its prescribed minimum balance or the said overdraft limit to be exceeded; and

(b) if the Account is drawn below its prescribed minimum balance or the approved overdraft limit is exceeded without the Bank’s prior written consent the Customer shall (including without limitation) pay such fees as the Bank may prescribe as well as pay additional interest on the particular amount drawn below the prescribed minimum balance or the particular amount in excess of the approved overdraft limit (in this paragraph together called the “outstanding amounts”) at such rate or rates and computed and compounded in such manner as may be determined by the Bank in its sole and absolute discretion until the outstanding amounts are paid in full. The Bank shall also be at liberty to demand from the Customer the immediate repayment, in full, of the entire outstanding amounts together with all interest accrued thereon as well as all other costs, charges and expenses arising there from.

19. Banks' Lien
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(a) in the event of a Debt, the Bank shall have a general lien over all the property of the Customer in the Bank’s possession, including, but not limited to, cash, goods, securities or valuables held by the Bank, cheques presented for payment, bills and any other property (movable or immovable) charged in whatever manner by the Customer in favour of the Bank to secure the repayment of the Debt; and

(b) the Bank may, at any time, give the Customer notice in writing that if the Debt is not repaid to the Bank within a stipulated period of time, the Bank, may without any further notice to the Customer, enforce any of its rights and remedies under any Security so as to redeem the Debt.

20. Banks Right Of Set-Of
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All operations between the Bank and the Customer of whatsoever nature shall be considered and treated by the Bank for all purposes as a single integral and indivisible account and the Bank may:

(a) without notice utilise any credit balance in the Account (whether current, loan, savings, time deposit or any other type of account or in the account of any other person for whom the Customer has agreed to act as surety) to pay any Debt due to the Bank from the Customer or any other person whom the Customer has agreed to act as guarantor and/or surety. This right of Set-Off shall be in addition to, and shall not impair or affect, any of the Bank’s other rights of recovery;

(b) convert, at the Bank’s prevailing rates of exchange, any money held by the Bank in a Foreign Currency which is subject to the Bank’s lien and thereafter exercise the Bank’s right of Set-Off. The Bank accepts no liability for any loss caused by such currency conversion; and

(c) liquidate a time deposit (including those denominated in Foreign Currency and/or for a given period of time) and exercise the Bank’s right of Set-Off against the Debt notwithstanding that the time period of the deposit has not expired or interest accrued.

21. Variation of relationship & closure of the account
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(a) the Customer may, upon prior issuance to the Bank of a thirty (30) day written Notice or such Notice as the Bank may deem fit close the Account subject to the settlement of any Debt;

(b) the Bank may at any time, upon giving a 30 days’ notice to the Customer, terminate or vary its business relationship with the Customer and/or close the Account and may require the repayment by the Customer of any Debt resulting from such determination, variation and/or closure; and

(c) if the Bank terminates or varies its relationship with the Customer and/or closes the Account, it shall be the Customer’s sole responsibility to notify any other party regarding such termination, variation and/or closure.

22. Freezing the account
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The Bank in its sole discretion may at any time, refuse to accept any instructions in regard to the Account, if and for so long as:

(a) there is any dispute between the Customer and the Bank; or

(b) the Bank has any reason to suspect that a fraud has been or is likely to be committed; or

(c) the Account is being or is likely to be operated by the Customer for any illegal and/or unlawful transaction; or

(d) the Bank has any doubt for any reason that either the Customer is not the person entitled to operate the Account or that there is any dispute in respect of the Mandate; or

(e) the Bank is under a legal obligation to do so.

23. Chequebooks
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(a) the Chequebook shall be issued by the Bank to the Customer at the Bank’s sole discretion, subject to the Chequebook Terms and Conditions which are set out in this paragraph and on the inside cover of the Chequebook;

(b) the Bank may charge a fee for the issuance of a Chequebook and any other additional Chequebooks issued to the Customer;

(c) the Bank may refuse to make payment to the Customer or any other third party on any cheque which is not drawn in the manner specified by the Chequebook Terms and Conditions set out below:

(i) the Customer must write, date and sign the Cheque in clear handwriting using legible ink (preferably blue or black) in the currency of the Account for an amount not exceeding the Available Balance;

(ii) when drawing a Cheque: (a) the amount should be stated in both words and figures in such a manner as to prevent the insertion of any other word or figure and/or to prevent any fraudulent alterations; (b) the Cheque must be signed by an Authorised Signatory as per the terms of the Mandate; (c) any alteration to the Cheque must be counter-signed by an Authorised Signatory as per the terms of the Mandate; (d) any un-crossing of the Cheque must be done by an Authorised Signatory as per the terms of the Mandate; (e) no incomplete Cheque is given to any person; and (f) all uncompleted Cheques are kept in safe custody at all times.

(iii) the Customer must count the number of Cheques contained in the Chequebook at the time the Customer is issued with the Chequebook and periodically throughout the use of the Chequebook. If any Cheque is found to be lost or missing, the Customer must inform the Bank immediately; (a) the Bank may refuse to honour a Cheque where the date of the Cheque is more than six (6) months old or where the date is in the future (post-dated cheques); (b) where the Customer wants the Bank to stop payment on a Cheque, the Customer must immediately request the Bank in writing to do so. Upon receipt of a written notice from the Customer to stop payment of a Cheque, the Bank shall record the notice and stop the payment provided that such notice is received before the transaction sought to be stopped has occurred. The Bank reserves the right to charge an administration fee for stopping the payment of a Cheque; (c) the Bank shall not be liable to the Customer in any way and the Customer shall fully indemnify the Bank against any claims by any third party should the Bank make payment against a Cheque on the Customer’s behalf, where the Cheque is presumed to be issued by the Customer but the signature or content of the Cheque and/or written instruction has been forged if:

(i) the Customer has facilitated such forgery; or (ii) there has been a previous forgery of the Customer’s Cheque or note of instruction without the Customer having previously objected to the payment;

(a) the Bank acts only as the Customer’s collecting agent and if the Customer’s Cheque or any other third party instrument is lost or stolen while in the custody of the Bank the Bank shall not be liable for any loss of profit or opportunity suffered by the Customer or any other person and/or for any charges incurred by the Customer or any other person in stopping payment thereof even where the Bank has been negligent.

24. Joint Account
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(a) where a Joint Account is operated by a Mandate designated as ‘Either/or Survivor’, each Customer to the Joint Account is authorised to operate the Joint Account individually and it shall be deemed that the instructions given by one Customer to the Joint Account regarding the Joint Account are authorised by the other Customer(s) to the Joint Account;

(b) where a Joint Account is operated on a Mandate designated as ‘Jointly’, each Customer to the Joint Account is only authorised to operate the Joint Account together with all other Customers to the Joint Account (or as specified in the Mandate). The Bank shall not be held liable for refusing to act or for any delay in accepting the instructions which are not issued by all Customers to the Joint Account;

(c) if any Customer to the Joint Account gives instructions that conflict or appear to conflict with instructions given by another Customer(s) to the Joint Account, the Bank may refuse to act on any such instructions until the conflict is resolved to the Bank’s sole satisfaction; and

(d) each Customer to the Joint Account shall be jointly and severally liable to repay any Debt in respect of the Joint Account.

25. Fixed Deposits
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The Bank may at its sole discretion, accept funds in specified currencies from the Customer to be placed in an interest earning deposit Account for a fixed period of time. Such Specific Terms and Conditions as may be set by the Bank in respect of such Accounts shall apply and if there is any difference between these General Terms and Conditions and such Specific Terms and Conditions, the Specific Terms and Conditions shall apply.

26. Foreign Currency Accounts
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Subject to any exchange regulations (where applicable):

(a) the Bank may operate the Account in a Foreign Currency;

(b) the Bank may at the request of the Customer, credit or debit the Account with a currency which is not the designated currency of the Account and may convert such amount debited or credited at the Bank’s prevailing rate of exchange; and

(c) the Foreign Currency Account shall be operated by the Customer at the Customer’s risk including but not limited to the consequences of any legal, fiscal or other measures affecting the Foreign Currency Account.

27. Dormant Accounts
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a) the Account shall be deemed to have become Dormant where the Account has remained inoperative for such period of time as may be specified by the Specific Terms and Conditions of the Account or as may be determined by the Bank from time to time; and

(b) the Bank may (including without limitation) apply any one or more of the following conditions to an Account upon its classification as Dormant:

(i) confirm the validity and authenticity of the first transaction reactivating the Account; (ii) suspend the payment of interest (if applicable); (ii) suspend the issuance of Account Statements; and (iii) charge a maintenance fee as may be determined by the Bank from time to time.

(c) The account, if inactive for a period of 5 years, shall be subject to the custody of the Unclaimed Assets Authority as unclaimed assets pursuant to the provisions of the Unclaimed Financial Assets Act (No. 40 of 2011), The Bank shall however make prior reasonable efforts to locate you and notify you.

28. Deductions
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All payments required to be made by the Customer to the Bank pursuant to these General Terms and Conditions or otherwise shall be made in immediately available funds without any set-off, counterclaim or deduction of any Tax whatsoever, unless required by law in which event the Customer shall simultaneously while making the relevant payment pay to the Bank such additional amount as shall result in the receipt by the Bank of the full amount which would otherwise have been receivable by the Bank.

29. Complaints
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The Bank may require that any complaint made by the Customer in relation to the Account be made in writing. The Bank shall act upon such complaint, as soon as is reasonably possible, after receipt of the complaint by the Bank.

30. Liability
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a) the Bank shall not be liable to the Customer for;

(i) any loss of profit or opportunity or any consequential loss or damage to the Customer’s reputation. The Bank shall not be liable in any way to the Customer or to any third party for making payment on the Customer’s behalf or acting upon any written instructions presumed to be issued by the Customer even negligently, where the signature or content of the written instruction has been forged if the Customer has facilitated such forgery and/or if there has been a previous forgery of the Customer’s cheque or note of instruction to which the Customer has not previously objected to and/or if the Bank has exercised due care and acted in good faith in making such payment;

(ii) any act or omission including any breach of its obligations under these General Terms and Conditions caused by circumstances beyond the Bank’s reasonable control including but not limited to fire, strike, insurrection or riot embargo, terrorist or any enemy action, theft or burglary, delays in transportation or the requirement or regulations of any civil or military authority; and

(iii) (where the Bank is operating the Account by means of a software package or other accounting system) for the non-performance of the software which shall have occurred directly or indirectly as a result of (including without limitation) adverse power fluctuations or damage resulting from fire, water, accidents, spillage of fluids, connections to improper power supplies, faulty or incorrect electrical wiring or connection;

(b) subject to these General Terms and Conditions, where the Bank is found to be liable to the Customer for any loss, injury or damage resulting from any wilful or negligent delay or error in carrying out the Customer’s clear and unequivocal instructions, the Bank’s liability shall be the lower of:

(i) the amount of such loss, injury or damage; or

(ii) the amount of any interest not received, or any interest that the Customer has to pay as a result of such failure, delay or error.

31. Validity of Documents
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The Bank is not responsible for the authenticity, validity, regularity or value of documents including but not limited to bills of lading, delivery orders, consignment documents, receipts, warrants and insurance policies.

32. Communications
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(a) any written communication from the Bank to the Customer, including but not limited to, any notice given pursuant to these General Terms and Conditions shall be deemed to have been received by the Customer:

(i) if delivered personally, at the date and time of delivery;

(ii) if sent by post, on the fourth day from the date of posting;

(iii) if sent by airmail, on the seventh day days from the date of posting;

(iv) if sent by telex, when the proper answerback is received;

(v) if sent by SWIFT, when the acknowledged SWIFT message is received;

(vi) if sent by SMS/Email/ facsimile, on completion of the transmission and in the case of posting it shall be sufficient to prove that the letter containing the communication was properly stamped and addressed notwithstanding that it be undelivered or returned undelivered; and

(vii) the Customer shall have no claim against the Bank for damages resulting from loss, delay, misunderstanding, mutilation, duplication, or any other irregularity due to the transmission of any communication whether to or from the Customer, the Bank or any third party, by delivery, post, fax, telegraph, telephone, telex or any other form of cable communication.

33. Indulgences
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Any concession which may be granted to the Customer by the Bank shall not affect the Customer’s obligations to the Bank or the Bank’s rights as against the Customer.

34. Confidentiality
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(a) the Bank values the Customer’s privacy and has a policy to hold in confidence information and/or documentation relating to the Customer and/or the Account. However the Bank may in certain circumstances disclose such information and/or documentation to any person in connection with any actual or likely event of default by the Customer. This right to disclose includes disclosing information under these General Terms and Conditions (including the assignment or transfer of all the Bank’s rights and obligations under these General Terms and Conditions);

(b) the Customer authorises the Bank to respond, if it shall so choose, to any and all inquiries (including without limitation any bank’s references) received from any other bank, financial institution or person providing credit or financial services, concerning the Account without any reference to the Customer;

(c) the Bank may also disclose information and/or documentation relating to the Account in the following circumstances:

(i) to any credit reference, scoring or rating agencies;

(ii) to any persons providing information or services to the Bank, (including without limitation a holding or group companies, subsidiaries or related parties) on the understanding that the information shall be confidential and may not be further disseminated; and

(iii) where the Bank is under a legal or contractual obligation to do so (including but not limited to the Bank’s legal and/or contractual obligations to prevent money laundering and related offences) and/or where it is in the interest of the public.

35. Assignment
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The Bank shall have a full and unfettered right to assign and/or transfer all or any of its rights, benefits and obligations under these General Terms and Conditions and/or under any Specific Terms and Conditions, to any person at any time without notice to the Customer.

36. Interpretation
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(a) the expression the “Customer” and/or “person” and or “party” shall include any natural person, firm, partnership, incorporate or corporate body, state, state agency, governmental authority in whatever name of style and when there are two or more included in the expression the “Customer” and/or “person” and/or “party” such expression shall include either one severally and/or both or all of them jointly;

(b) references to words denoting the singular number shall include the plural and vice versa and reference to the masculine gender includes a reference to the feminine gender and neuter and vice versa;

(c) any obligation imposed by or resulting from these General Terms and Conditions which is undertaken by more than one person shall be a joint and several obligation of each of the persons who has undertaken it whether as principal, guarantor, indemnifier, surety or otherwise; and

(d) each of the provisions of these General Terms and Conditions is severable and distinct from the others. If at any time any of the General Terms or Conditions hereof is or becomes illegal, invalid or unenforceable in any respect neither the legality, validity nor enforceability of the remaining General Terms and Conditions shall in any way be affected or impaired thereby.

37. Variation
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(a) the Bank may vary these General Terms and Conditions, any Specific Terms and Conditions and/or the Bank’s Tariffs (either in whole or in part) at any time. Notification of any such variation may be given to the Customer either in writing or by publication thereof by such means as the Bank may decide but any variation whether notified or not shall be binding on the Customer; and

(b) the Bank may introduce a new type of Account for which Specific Terms and Conditions shall apply. Where there is any conflict between these General Terms and Conditions and any Specific Terms and Conditions, the Specific Terms and Conditions shall apply.

38. Indemnity
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The Customer hereby agrees to indemnify and keep the Bank harmless against all claims, demands, losses, costs, damages, liabilities and expenses whatsoever (including any Taxes, legal and/or statutory fees (billed, where applicable, on an advocate/client basis)) incurred, sustained or suffered by the Bank (or by any other person on the Bank’s behalf) in connection with:

(a) the negotiation, preparation, execution, delivery, stamping or registration (whether in whole or in part) of any Security;

(b) any preservation or exercise (or attempted preservation or exercise) of any of the Bank’s rights under or in connection with the enforcement (or attempted enforcement) of these General Terms and Conditions, any Specific Terms and Conditions and/or any Security;

(c) any actual or proposed amendment of or waiver to any Security;

(d) any discharge or release of any Security; and

(e) any dealing with or obtaining of professional and/or other advice about any matter or question arising out of or in connection with these General Terms and Conditions, any Specific Terms and Conditions and/or any Security.

39. Governing Law
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These General Terms and Conditions and any Specific Terms and Conditions shall be governed by the laws of the United Republic of Tanzania and the Customer hereby submits to the non-exclusive jurisdiction of the Courts of United Republic of Tanzania.

1. Definitions and interpretation
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1.1 In these Terms and Conditions unless the context otherwise requires:

(a) “Bank” means I&M Bank (T) Limited, a limited liability company incorporated in the United Republic of Tanzania and includes such Branches or Subsidiaries of the Bank as may from time to time be specified by the Bank to the Customer.

(b) “Banking Day” means a day on which the counters of the Branch and/or the Bank Subsidiary (as applicable) are open for the transaction of ordinary business;

(c) “Bank Subsidiary” means the subsidiary or subsidiaries of the Bank which may from time to time be specified by the Bank to the Customer;

(d) “Branch” means a branch or branches of the Bank which may from time to time be specified by the Bank to the Customer;

(e) “Bank Account” means the Customer’s personal and business transaction account(s), current overdraft facility account(s) and term and call deposit accounts (as the case may be) with the Bank;

(f) “Customer” means the Bank’s Customer who is operating an active Bank Account;

(g) “Deposit Account” means a Bank Account with an available credit balance;

(h) “General Terms and Conditions” means the Bank’s General Terms and Conditions signed by the Customer at the time the Customer opens a Bank Account;

(i) “Nominated User/s” means the representative or representatives of the Customer authorized by the Customer to hold and change the Password and hence to access the System and Service on behalf of the Customer;

(j) “Password” means the secret password known only to the Customer or Customer’s Nominated User for access to the System. The Customer or Nominated User may change the password at will;

(k) “Request” means a request or instruction received by the Bank from the Customer or purportedly from the Customer through the System and upon which the Bank is authorized to act on;

(l) “Service” means the WhatsApp banking services, offered by the Bank which may be collectively branded by a product name, as the Customer may from time to time subscribe for;

(m) “System” means the electronic banking and communications software enabling the Customer to communicate with the Bank for the purposes of the Service.

(n) “Application” means a written application for the Service by a Customer;

(o) “User ID” means a unique identifier of the Customer as recorded in the Bank’s core banking system; and

(p) “WhatsApp” means the freeware, cross-platform messaging and voice over service which allows users to share media;

(q) “Bank’s Service Number” means the Bank’s verified phone number for the use of the Service.

1.2 In these Terms and Conditions:

(a) where “the Customer” is more than one person, references to “the Customer” shall include all and/or persons and the obligations of the Customer shall be joint and several;

(b) words in the singular shall include the plural and vice versa and words importing any gender shall include all other genders;

(c) the Customer agrees that the Terms and Conditions set out hereunder shall apply to the use of the Service, as provided by the Bank to the customer; and

(d) the Customer further agrees to accept and abide by such Terms and Conditions and instructions from time to time in force.

2. Application by Customer
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2.1 In consideration of the Customer paying to the Bank the fees and charges set out in the tariff, the Bank shall provide the Customer the Service subject to and in accordance with these Terms and Conditions.

2.2 The Customer will apply for the Service by initiating a chat message to the Bank’s Service Number. The System will then validate and authenticate the Customer against their existing Bank Account records with the Bank. The Application shall be subject to the Bank’s approval.

2.3 Once the Bank has approved the Application and the Customer has been maintained in the Bank’s records as an authorized user of the Service, the Bank will provide the Customer with a User ID. The Customer shall create their preferred Password known only to them, and this Password along with their User ID will allow them access for use of the Service.

2.4 The Customer’s application for and use of the Service shall be subject to these Terms and Conditions.. Where there is any conflict between these Terms and Conditions and the Bank’s General Terms and Conditions, these Terms and Conditions shall apply.

3. Joint accounts
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3.1 Customers with joint accounts are jointly and severally liable under these Terms and Conditions. Application for the Service made by any of the joint account holders acting alone as per paragraph 2 above will be deemed to be binding on all the holders of the joint accounts. Each joint account holder acting alone, under an assigned User ID and Password may use the Service. The Bank shall not be required to obtain the consent of or notify any other joint account holder of the Requests. However each joint account holder may access the Service for the accounts for which they are an owner, joint owner or Nominated User using the assigned User ID and Password.

3.2 Each joint account holder releases the Bank from any and all liability and agrees not to make any claim or bring any action against the Bank for honouring or allowing any actions or requests whether the person performing the transaction is one of the joint account holders or is otherwise authorized to use the Service.

4. Customer’s Facilities and Customer’s Responsibilities
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4.1 The Customer shall at their own expense provide and maintain in safe and efficient operating order such hardware, software and other facilities (including access to any public telecommunications systems) and any communications network (collectively “the Facilities”) necessary for the purpose of accessing the System and the Service.

4.2 The Customer shall be responsible for ensuring proper performance of the Facilities including any losses or delays that may be caused by the Facilities. The Bank shall neither be responsible nor liable for any errors or failures caused by any malfunction of the Facilities nor shall the Bank be responsible or liable for any related problems that may be associated with the use of the System, the Service and the Facilities. The Customer shall be responsible for charges due to any service provider providing the Customer with connection to the internet and the Bank shall not be responsible or liable for losses or delays caused by any such services provider.

4.3 The Customer shall provide the Bank with consent prior to access and use of the System and shall ensure that all persons it allows to have access to the System shall comply with all laws and regulations applicable to the use of the System and shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the Bank concerning the use of the System and Service.

4.4 The Customer shall prevent any unauthorized access to or use of the System and Service by keeping their User ID and Password secret at all times.

4.5 The Customer shall take all reasonable and necessary precautions to detect any unauthorized use of the System and Service. To that end, the Customer shall ensure that all communications from the Bank are examined and checked by or on behalf of the Customer as soon as practicable after receipt by the Customer in such a way that any unauthorized use of and access to the System will be detected.

4.6 The Customer shall immediately inform the Bank by telephone with a written confirmation sent the same day in the event that: (a) the Customer has reason to believe that any Password used by the Customer to gain access to the Service and to communicate with the Bank is or may be known to any person not authorized to know the same and/or has been compromised; and/or (b) the Customer has reason to believe that unauthorized use of the Service has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.

4.7 The Customer shall not send or attempt to send any Request to the Bank through the System if the Customer has reason to believe that for any reason such Request may not be received by the Bank or may not be received accurately and intelligibly.

4.8 The Customer shall at all times follow the security procedures notified to the Customer by the Bank from time to time. The Customer acknowledges that any failure on the part of the Customer to follow the recommended security procedures may result in a breach of the Customer’s profile confidentiality and may lead to unauthorized transactions in account(s) linked to the Customer’s Service subscription with the Bank. In particular, the Customer shall ensure that the Service is not used or Requests are not issued or the Relevant functions are not performed by anyone other than a person authorized to do so.

4.9 The Customer shall not at any time operate or use the Service in any manner that may be prejudicial to the Bank.

4.10 The Bank shall be entitled and authorized to debit the Customer’s Bank Account with the amounts of the transactions effected via the Service as well as debit the Customer’s Bank Account with the amount of any fees applicable to the Service from time to time.

4.11 With regards to reversal that lead to failed transactions owing to system failures or reversals owing to erroneous crediting of an unintended beneficiary, the Customer irrevocably authorizes the Bank to act on all Requests and to hold the Customer liable notwithstanding that such Requests are not issued by/and or authorized by the Customer and/or are not in accordance with any existing mandates given by the Customer. If the Customer requests the Bank to cancel any transaction or instruction after a Request has been received by the Bank from the Customer, the Bank shall cancel such transaction or instruction provided that it has not been effected by the time of receipt of Customer notice.

4.12 The Customer account shall remain active from the time the Customer logs on the Service as long as there is continuous and consistent activity from the Customer on the System. The Customer shall be considered inactive and the System shall log out the Customer after a period of inactivity of sixty (60) seconds, whereby the Customer shall be required to log in again to use the Service.

5. Irrevocable Authority of the Bank
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5.1 The Bank is irrevocably authorized by the Customer to act on all Requests received by the Bank from the Customer (or purportedly from the Customer) through the System and to hold the Customer liable thereof, notwithstanding that any such requests are not authorized by the Customer or are not in accordance with any existing mandates given by the Customer. If the Customer requests the Bank to cancel any transaction or instruction after a Request has been received by the Bank from the Customer, the Bank may in its absolute discretion cancel such transaction or instruction but shall have no obligation to do so.

5.2 The Bank shall be entitled to accept and to act upon any request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, the Bank believes that it can correct the incomplete or ambiguous information in the Request without reference to the Customer being necessary.

5.3 The Bank shall not be obliged to accept or to act upon any Request if to do so would require access to, action by, or information from the Branch, or any Bank Subsidiary located in any jurisdiction where it is not a Banking Day at the relevant time when such access, action or information is required or would cause a breach of any existing mandate facility limit or agreement between the Bank, the Branch and/or Bank Subsidiary (as applicable) and the Customer. In the event that the Bank does accept or act upon any such Request, the Customer shall remain liable thereof.

5.4 In the event of any conflict between any terms of any Request from the Customer and the terms of these Terms and Conditions, the terms of these Terms and Conditions shall prevail. These Terms and Conditions and all authorizations and other procedures agreed under these Terms and Conditions supplement any General Terms and Conditions and any mandates, which apply to the Customer’s Bank Accounts with the Bank.

6. Limits of the Service Transactions
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6.1 The Customer may transfer or effect a payment for any amount not exceeding Tanzania Shillings Twenty Five Million (TSHS 25M) or the equivalent in any other currency for internal transfers, and as long as the transaction does not cause the balance in the Deposit Account to be less than zero unless the Customer has either an approved overdraft facility for the affected Deposit Account or a term Deposit Account pledged with the Bank to cover excesses that may arise in the affected Deposit Account from time to time in which case the two accounts are linked in the System for that purpose.

6.2 If the Customer has an approved overdraft facility or term Deposit Account linked to the payment Deposit Account, the transfers and/or electronic bill payments using the Service should not exceed the approved overdraft facility or the pledged term Deposit Account.

7. Records of Transactions and Customer Rights to this Information.
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7.1 All activities performed by the Customer once allowed access into the System will be logged until the Customer ends a session. The Bank shall maintain copies of all Requests received from the Customer in electronic form. In addition, any hard copies of documentation prepared by the Bank in the process of effecting a transaction as per the Customer’s Requests will be maintained. As between the Customer and the Bank, the Bank’s copy records shall be conclusive evidence of the fact of receipt or non-receipt of a Request and of the contents of such Request.

7.2 The Account statement (hereinafter “the Account Statement”) that the Customer receives at the determined product frequency will reflect all the Service transactions.

7.3 The Customer shall be deemed to have accepted and shall not subsequently challenge or object to any of the transactions contained in the Account Statement if the Customer fails to object to the Account Statement in writing within 30 days from the date the Account Statement was sent or deemed to have been sent to the Customer by the Bank.

8. Charges
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8.1 The Customer shall pay to the Bank transaction charges applicable to various transaction types as advised by the Bank from time to time. The Bank may in its sole discretion revise these charges and fees.

8.2 The Customer shall pay any tax chargeable upon any sums payable by the Customer to the Bank and also any other charges or duties levied on the Customer or the Bank by any governmental or statutory body relating to the provision of the Service.

8.3 The Bank is hereby irrevocably authorized from time to time to debit any amounts payable by the Customer under the provisions of subparagraphs 8.1 and/or 8.2 to any account in any currency maintained by the Bank, the Branch and/or the Bank subsidiaries (as applicable) in the name of the Customer. In addition to the fees payable under these Terms and Conditions, the charges and fees applicable to the Customer’s Bank Accounts will apply.

9. Exclusion of Liability
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9.1 Circumstances not within the Bank’s control.

The Bank shall not be responsible or liable for any loss suffered by the Customer should the Service be interfered with or be unavailable by reason of (a) any industrial action, (b) the failure of any of the Customer’s Facilities, or (c) any other circumstances whatsoever not reasonably within the Bank’s control including, without limitation, force majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

9.2 Electronic Bill Payments and Transfer of Funds.

(a) the Bank will not be liable for any losses or damage suffered by the Customer as a result of delay, failure and/or refusal by the Bank to act on a Request in time or at all in any one or more of the following circumstances (as the case may be): (i) if the Customer does not have enough funds in the Deposit Account; (ii) if the payment or transfer would result in the Customer’s approved overdraft facility limit being exceeded; (iii) if the Customer does not authorize a bill payment in good enough time for the payment to be made and properly credited by the payee (the Customer’s counter-party) by the time it is due; (iv) if the System or the Customer’s Facilities were not working properly; (v) if circumstances beyond the Bank’s control including those specified in sub paragraph 10.1 above prevent the Bank from making a payment or transfer; (vi) if the money in the Customer’s account is subject to legal process court order or other encumbrance restricting the payment or transfer; (vii) if the Customer does not give proper or complete instructions for the payment or transfer or the Customer does not follow the procedures in this or other applicable agreement with the Bank for requesting a payment or a transfer; (viii) if the Bank has reason to believe that the Customer or someone else is using the Service for fraudulent or illegal purposes; (ix) if a payment or a transfer request would consist of money deposited in a form or by a method that has not yet made the money available for withdrawal; (x) if the payment or transfer request is in contradiction or conflict with other existing account agreements with the customer; and (xi) if the payment or transfer request is received at a time when it is operationally not possible to effect the same within working hours of that day.

(b) if the Bank makes a timely payment or transfer but the payee nevertheless fails to credit the Customer’s payment promptly after receipt, the Bank shall not be liable for any loss or damage suffered by the Customer as a result of such failure on the part of the payee.

9.3 Indemnity.

(a) the Customer shall indemnify and keep the Bank indemnified on a full and unqualified indemnity basis against all and any costs (including legal costs), claims, actions, proceedings, losses, damage, demands, liabilities, and expenses suffered or incurred by the Bank in connection with or arising from (a), (b) and/or (c) of subparagraph 9.1 or where the particular circumstances is within the Customer’s control and against all and any costs (including legal costs), claims, actions, proceedings, losses, damage, demands, liabilities, and expenses suffered or incurred by the Bank as a consequence of any breach by the Customer of any term or condition hereof; (b) the Customer shall indemnify and keep indemnified the Bank against any demands, claims, actions, losses, damages or costs relating to or in connection with the Service, whether directly or indirectly, unless such demands, claims, actions, losses, damages, or costs arose as a direct consequence of the gross negligence or willful misconduct of the Bank or any of its employees; (c) the Customer shall indemnify and keep indemnified the Bank against the following: (i) all demands, claims, actions, losses and damages of whatever nature which may be brought against the Bank or which it may suffer or incur arising from the Bank’s reliance on any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by the Bank; (ii) any loss or damage that may arise from the Customer’s 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; (iii) any unauthorized access to the Customer’s accounts or any breach of security or any destruction or accessing of the Customer’s data or any destruction or theft of or damage to any to the Customer’s equipment; (iv) any loss or damage occasioned by the failure by the Customer to adhere to any terms and conditions applicable to the Service 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.

9.4 if for any reason other than a reason mentioned in subparagraph 9.1 the Service is interfered with or unavailable, the Bank’s sole liability in respect thereof shall be to re-establish the Service as soon as reasonably practicable or, at the Bank’s option, to provide to the Customer alternative banking facilities which need not be electronic facilities.

9.5 save as provided in subparagraph 9.4, the Bank shall not be liable to the Customer for any interference with or unavailability of the Service, howsoever caused.

9.6 under no circumstances shall the Bank be liable to the Customer for any loss of profit or anticipated savings or for any indirect or consequential loss of whatever kind, howsoever caused, arising out of or in connection with the Service.

9.7 except in respect of death or personal injury caused by the negligence of the Bank, the Bank shall be under no liability for any claim whatsoever in respect of any terms and conditions contained herein or their performance thereof or any transactions effected by the Bank in response to any Request unless the Bank has received notice in writing of any such claim from the Customer:

(a) in the case of any claim relating to a transaction, within thirty (30) days from the date of the alleged transaction on which such claim is based; and

(b) in all other cases within ninety (90) days of the date of the alleged action or inaction by the Bank on which such claim is based.

9.8 to the extent permitted by law, the Bank: (a) disclaims all warranties with respect to the System and Service either express or implied, including but not limited to any implied warranties relating to quality, fitness for any particular purpose or ability to achieve a certain result; and

(b) makes no warranty that the System is error free or that its use will be uninterrupted and the Customer acknowledges and agrees that the existence of such errors shall not constitute a breach of these Terms and Conditions.

10. Amendments
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The Bank may vary these Terms and Conditions at any time by giving a 30 days’ notice to the Customer. Notification of any such variation will be given to the Customer either in writing or by publication thereof by such means as the Bank may decide and such variation shall be binding on the Customer.

11. Termination
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11.1 Notwithstanding anything contained in these Terms and Conditions, the Subscription may be terminated at any time by either party.

11.2 Upon termination, if the Customer re-applies for a Subscription, a reconnection fee may be payable.

11.3 The Bank may unilaterally terminate the Subscription for any reason, including but not limited to in the event that the Customer’s Bank Account does not have sufficient available balances for the Bank to debit the applicable charges for the Subscription.

11.4 The Customer may terminate or deregister or deactivate from using the Service under “Services” menu item then “Deactivate from WhatsApp Banking”.

11.5 The termination of the Service shall not, in itself, terminate or affect the relationship between the Bank and the Customer.

12. General Provisions
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12.1 The Customer shall not assign any benefit or any rights arising hereunder without the prior written consent or confirmation from the Bank.

12.2 No waiver by the Bank of any breach by the Customer of any of the Terms and Conditions hereof shall be effective unless it is an express waiver in writing of such breach. No waiver of any such breach shall waive any subsequent breach by the Customer.

12.3 the Customer acknowledges:

(a) that he/she has not relied upon any representation, warranty, promise, statement of opinion or other inducement made or given by or on behalf of or purportedly by or on behalf of the Bank in deciding to; and that

(b) no person has or has had authority on behalf of the Bank whether before, on or after the subscription to make or give any such representation, warranty, promise, statement of opinion or other inducement to the Customer or to enter into any collateral or side agreement of any kind with the Customer in connection with the Service.

12.4 for the avoidance of doubt, nothing herein shall vary, discharge or in any other way affect or prejudice any security granted by the Customer or any third party in favour of the Bank in relation to any obligations of the Customer which may rise if any Request from the Customer hereunder is acted upon by the Bank.

12.5 if any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any jurisdiction, such illegality, invalidity or enforceability shall not affect the legality, validity or enforceability of the remaining provisions of these Terms and Conditions.

12.6 any notice required to be given in writing under these Terms and Conditions shall be sufficiently served if sent by registered post, stamped and properly addressed:-

(a) to the manager of the Branch or of the Bank at the address of the Branch or the Bank, if to be served on the Bank; or

(b) to the Customer at the address of the Customer as per the Bank’s records, if to be served on the Customer. And shall be deemed to have been served five Banking Days after posting.

13. Confidentiality and Disclosure
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13.1 The Customer undertakes to maintain strict confidentiality of its User ID and Password and any other information and materials of any nature supplied to it by the Bank in relation to the Service. The Customer agrees to notify its agents, employees and/or sub-contractors of the provisions of this paragraph and to impose this confidentiality requirement on its agents, employees and/or sub-contractors entering into separate agreements, if necessary. The Customer shall be fully liable to the Bank for any breach of the provisions of this paragraph by itself, its employees, agents and/or sub-contractors.

13.2 The Customer hereby agrees that, if necessary for the provision of the Service, the Bank may disclose information about the Customer to any member of the Bank Group.

13.3 The Customer also hereby agrees that the Bank may disclose information about the Customer to third parties in the following circumstances:-

(a) where such disclosure is necessary in order for the Bank to act on a Request;

(b) in order to comply with any law regulation or court order. If the Bank has to obey an order for information from an authorized government body, the Bank may, to the extent required by law, notify the Customer before giving out the information;

(c) disclosure to the Bank’s agents, sub-contractors, auditors, attorneys and other professional service providers to the extent required in the normal course of their duties;

(d) disclosure to a licensed credit reference agency the services of whom the Bank may have subscribed to; (e) if it involves a claim by or against the Bank in respect of an item deposited or drawn against the Customer’s account; and

(f) If the Customer authorizes the disclosure.

14. Intellectual Property Rights
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14.1 The Customer acknowledges that the intellectual property rights in the System (and any amendments or enhancements thereto from time to time) and all associated documentation that the Bank provides to the Customer through the System or otherwise are vested either in the Bank or in other third parties from whom the Bank has a right to use and to sub-license the System and/or the said documentation. The Customer shall not infringe any such intellectual property rights.

14.2 The Customer shall not duplicate, reproduce or in any way tamper with the System

15. Headings
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The headings contained in these Terms and Conditions are for convenience of reference only, and shall not be deemed to be a part of these Terms and Conditions neither be referred to in connection with the interpretation of these Terms and Conditions.

16. Severability
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In the event that any provision of these Terms and Conditions or the application of any such provision to any person or set of circumstances shall be determined to be invalid, unlawful, void or unenforceable to any extent, the remainder of these Terms and Conditions and the application of such provision to persons or circumstances other than those as to which it is determined to be invalid, unlawful, void or unenforceable, shall not be impaired or otherwise affected and shall continue to be valid and enforceable to the fullest extent permitted by law.

If there are two or more persons comprised in the expression “the Customer” then the undertakings and liabilities of the Customer under these Terms and Conditions shall be joint and in solid undertakings and liabilities shall be construed accordingly and reference herein to the “Customer” shall mean any or more of them. If the customer is a corporate body, then these Terms and Conditions shall continue in full force and effect and continue to bind each of its assigns and successors.

17. Governing Law
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These Terms and Conditions shall be governed by and construed in accordance with the laws of the United Republic of Tanzania and all disputes, actions and other matters relating thereto will be determined in accordance with such law.

PRIVACY NOTICE FOR ACCESS OF THE SERVICE
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Privacy Notice This Privacy Notice (the “Notice”) governs how I&M Bank (T) Limited (hereafter, “I&MT”), collects, uses, and discloses personal data from and about consumers of I&MT services, website and web applications that link to this Notice (collectively referred to as, the “Services”). Personal data in this context means information relating to an identified or identifiable natural person.

We advise you to read the Notice in its entirety, including the region-specific provisions in this Notice, which will apply to users in certain regions or jurisdictions.

Personal data collected through the services I&MT collects and uses certain personal data in order to operate and provide you with access to the Services. This includes information that you provide to us and information that we collect automatically when you visit or interact with the Services.

Information that you provide to us We collect personal data that you voluntarily provide to us when you use the Services. This information includes, without limitation: your email addresses, telephone numbers, and other contact details; biographical information; audio and visual data, social media information; submissions to our customer service; feedback on our website, web or mobile app; online preferences, such as alerts; and business information, such as your company name and industry.

Information that we collect about your use of the services We collect information about your use of the Services and about the device you use to access the Services, including: the pages you request and visit; the posts you submit; information on your interaction with other users; information obtained in the course of maintaining or supporting the Services; information about your internet use, such as your IP address, the URLs of sites from which you arrive or leave the Services, your type of browser, your operating system, your internet service provider; and, if you access the Services via your mobile device, we may also collect information about your mobile provider, IMSI, IMEI and type of mobile device. We (and our data processors) use different technologies to collect this information, including cookies and web beacons. Cookies are small data files stored on your hard drive or in device memory that help us improve our Services and your experience, see which areas and features of our Services are popular, and count visits. Web beacons are electronic images that may be used in our Services or emails and help deliver cookies, count visits, and understand usage and campaign effectiveness. For more information about cookies and how to disable them, please visit this-page.

Advertising and analytics services provided by others We may allow others to provide analytics services and serve advertisements on our behalf across the web and in mobile applications, to enhance our Services. These entities may use cookies, web beacons, device identifiers and other technologies to collect information about your use of the Services and other websites and applications, including your IP address, web browser, mobile network information, pages viewed, time spent on pages or in apps, links clicked, and conversion information. This information may be used by us and our data processors to, among other things, analyse and track data, determine the popularity of certain content, deliver advertising and content targeted to your interests on our Services and other websites, and better understand your online activity. For more information about interest-based ads, or to opt out of having your web browsing information used for behavioural advertising purposes, please visit this-page.
Your device may also include a feature (“Limit Ad Tracking” on iOS or “Opt Out of Interest-Based Ads” or “Opt Out of Ads Personalization” on Android) that allows you to opt out of having certain information collected through apps used for behavioural advertising purposes.

How personal data is used We use the personal data we collect to provide, maintain, and improve the Services. We also use it to:

. Send you technical notices, general updates, goodwill messages, security alerts, and support and administrative messages (such as changes to our terms, conditions, and policies) and to respond to your comments, questions, and customer service requests;

• Receive and respond to your submissions on the Services such as submissions on I&MT website, web applications and mobile applications, social media and submissions to Customer Service Contacts;

• Permit you to participate in voluntary polls and surveys (we may use third parties to deliver incentives to you to participate in such polls and surveys, and you may be required to provide your contact details to the third party in order to fulfil the incentive offer);

• Communicate with you about products, services, and events offered by I&MT and others, and provide news and information we think will be of interest to you (visit this-page for information about how to opt out of these communications at any time);

• Monitor and analyse trends, usage, and activities in connection with our Services;

• Develop new products and services and enhance current products and services;

• Detect, investigate, and prevent fraudulent transactions and other illegal activities, and protect the rights and property of I&MT and others; and

• Carry out any other purpose described to you at the time of collecting information.

How personal data is shared We may share your personal data as follows or as otherwise described in this Notice:

• With our data processors that host, maintain, manage, or provide other services to us in relation to the Services; • To co-operate with public and government authorities and law enforcement, to respond to a request, or to provide information in accordance to existing laws; • For other legal reasons, such as to monitor compliance with and enforce our terms and conditions, to protect our rights, privacy, safety, or property, and/or that of our affiliates, you or others, to protect against criminal activities, and for risk management purposes; and • In connection with a sale or business transaction, such as to an acquiring entity or its advisors in the event of any reorganization, merger, sale, joint venture, assignment, transfer or other disposition of all or any portion of our business, assets, or stock (including in connection with any bankruptcy or similar proceedings). We may also share aggregated pseudonymised or anonymised information that cannot reasonably be used to identify you.

Children All our Services provided to children align to the data protection requirements for Minors. These include consent provided by the child’s parent/guardian and age verification. If you have reason to believe that a child has provided personal data to us, please contact us and we will endeavour to delete that information from our databases.

Links to other websites The Services may contain links to other websites. Please note that IMT is not responsible for the privacy or information security practices of other websites. You should carefully review the applicable privacy and information security policies and notices for any other websites you click through to via the Services. This Notice applies solely to your personal data collected by the Services.

Security We seek to use appropriate technical and organizational measures to safeguard personal data within our organization against loss, theft, breach, and unauthorized use, disclosure, or modification. Please refer to the content below to note your obligations in controlling you privacy and data.

Control Your Privacy & Data Marketing emails and alerts If you no longer want to receive marketing-related emails and alerts from I&MT, you may opt out/ unsubscribe by following the instructions contained within each such email or through I&MT call centre. We will endeavour to comply with your request as soon as is reasonably practicable. Please note that if you opt out of receiving marketing-related emails and alerts, we may still send you administrative messages, from which you cannot opt out or unsubscribe.

Cookies Most web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to remove or reject browser cookies. Please note that if you choose to remove or reject cookies, this could affect the availability and functionality of our Services. For more information about cookies and how to disable them, please visit this-page Changes to this notice From time to time, we may revise this Notice. Changes may be made for any number of reasons, including to reflect industry initiatives, changes in the law, and changes to the scope of the Services, among other reasons. You can tell when we last updated the Notice by checking the date at the beginning of the Notice. Any changes will become effective when we post the revised Notice on the Services. Contact us If you have any other questions concerning this Notice, please contact us

Appendix Provisions regarding the Data Protection Act and General Data Protection Regulations (GDPR) which applies to European Union (EU) residents. Legal basis for processing When we process your personal data we will only do so in the following situations: • When we need to use your personal data to perform our responsibilities under our terms and conditions (e.g., to facilitate your participation in voluntary polls and surveys); • When we have a legitimate interest in processing your personal data. For example, we may process your personal data to send you marketing communications, to communicate with you about changes to the Services, and to provide, secure, and improve our Services; • When we find such processing is necessary to comply with our legal obligations; and • When we have your consent to do so. When consent is the legal basis for our processing, you may withdraw such consent at any time, in accordance to applicable laws and regulations. Data subject requests In your use of the Services, I&MT aims to give you more control of your personal data. We conform to the data protection principles that provide you with the following rights: • Right to access – you can ask us whether we are processing your personal data, including where and for what purpose. You can also access an electronic copy of your personal data. • Right to restrict processing – in certain circumstances, you can ask us to restrict our use of your personal data. • Right to rectification – you can ask us to correct inaccurate personal data we hold about you. • Right to erasure (right to be forgotten) – under certain circumstances, you can ask us to erase your personal data. • Right to data portability – at a cost, you can ask us to provide you with a copy of your personal data in a commonly used electronic format, so that you can transfer it to other businesses. • Right to object to automated decision-making – in certain circumstances, you can ask us not to make automated decisions about you based on your personal data, which produce significant legal effects. It is important to note that the above rights are subject to the applicable laws and regulations. Data retention We retain personal data for as long as required by applicable laws and regulations.

Data controller Except as otherwise specified on any subsections within sites or apps that comprise the Services, your personal data will be controlled by I&MT.

Data transfer Your personal data may be stored and processed in any country where we have facilities or in which we engage data processors in accordance to the applicable data protection laws and regulations.

Acceptance Your use of the Services signifies that you agree to waive your material privacy rights. You also agree not to hold I&MT liable for use of your personal data from the Services as envisaged herein. Your use of the Services signifies your consent to allowing I&MT to disclose personal data as envisaged herein. You agree not to hold I&MT liable for any disclosure of such information.

1. The agreement

• 1.1 This Agreement sets out the complete terms and conditions between you, Airtel Money Tanzania, and I&M Bank Tanzania for the Service (as hereinafter defined) and shall be binding on your personal representatives and assigns.
• 1.2 These terms and conditions and any amendments or variations thereto take effect on their date of publication.
• 1.3 These Terms are supplemental to the Airtel Money Terms and Conditions. In the event of any inconsistency between these Terms and the Airtel Money Terms and Conditions or any other relevant Terms and Conditions, these Terms and Conditions shall prevail.

2. Definitions

In these terms and conditions, the following words, and expressions (save where the context requires otherwise) bear the following meanings:

2.1 “Agreement” means these terms and conditions and any amendments that will be made from
time to time.
2.2 “Applicant” means any person who, through the Opt-In Function, applies for enrolment or
egistration onto the Service and establishment of an Kamilisha Limit.
2.3 “Credit Reference Bureau” or “CRB” means a credit reference bureau duly licensed under the Banking Act pursuant to the Banking (Credit Reference Bureau) Regulations, 2013, as amended, revised, or promulgated from time to time, to inter alia, collect and facilitate the sharing of customer credit information.
2.4 “I&M” or “I&M Bank” means I&M Bank(T) Ltd., a Limited liability company incorporated in the United Republic of Tanzania and having its registered office at Maktaba Square/Maktaba Street of Post Office Box Number 1509, Dar es Salaam, Tanzania registered with the Registrar of Companies under registration number.
2.5 “Currency Equivalent” means the Tanzanian shillings (TZS) equivalent of the corresponding EValue amount.
2.6 “Customer” means any Applicant or any person who has registered to use the Service and has accepted this Agreement.
2.7 “Customer Care Centre” means a customer care Centre designated for the Service in accordance with these terms and conditions.
2.8 “Event of Default” refers to any of the circumstances set out in Clause 10 below.
2.9 “E-Value” means the electronic value issued by Airtel Money and transacted within Airtel Money Account and representing an entitlement to an equivalent amount of the cash monies.
2.10 “Equipment” includes your mobile phone handset, Airtel Money enabled SIM Card and/or
other equipment which when used together enables you to access the Network.
2.11 “Facility” means any funds advanced to your Airtel Money Account to enable you to complete payments for the transactions and services provided under Clause 11 where your Airtel Money Account Balance has insufficient funds.
2.12 “Fees” means the Fees applicable for the Services and include;
a) An Initial One Time Processing fee of 5.9% of the Facility; and
b) An interest fee of 4.9% for the unpaid facility on Day 1
c) An interest fee of 7.40% on the unpaid facility on Day 2- Day 5
d) An interest fee of 10.40% on the unpaid facility on Day 6 – Day 10
e) An interest fee of 12.90% on the unpaid facility on Day 11 – Day 15
f) An interest fee of 16% on the unpaid facility on Day 16
g) Any other Fees for the Facility as communicated by us from time to time in accordance
with this Agreement and includes any charges, and applicable taxes thereon under the laws
of Tanzania.
2.15 “Government” means the National Government, County Government or any other
Government lawfully established under the laws of Tanzania.
2.16 “NIDA” means the National Identification Authority operated by the Government.
2.17 “Know Your Customer” also known as KYC refers to the customer due diligence
obligations prescribed by relevant laws and as may be prescribed or recommended by the Government or Bank of Tanzania from time to time.
2.18 “Airtel Money” means the money transfer and payment service that is managed and
operated exclusively by Airtel Money in Tanzania and licensed by the National Payments System and Bank of Tanzania
2.19 “Airtel Money Account” means the Airtel Money wallet registered in your name and through which you applied for the Services
2.20 “Airtel Money Merchant Account” means the Airtel Money Merchant Wallet, that is registered in your name and is used by you to receive merchant payments
2.21 “Airtel Money Subscriber” means a person who has registered to use Airtel Money and accepted the Airtel Money terms and conditions.
2.22 “Airtel Money Subscriber Credit Data” means data relating to your credit activity within the Airtel Money System.
2.23 “Airtel Money Subscriber Data” means an Airtel Money Subscriber’s name and any of such subscriber’s national identity card number, military card number, diplomatic identity card number, alien card number, passport number or driving licence number, as reflected in Airtel’s records from time to time.
2.24 “Airtel Money System” means the technical platform for the time being providing the Airtel Money service.
2.25 “MSISDN” Mobile Subscriber Integrated Services Digital Network Number (Mobile Number).
2.26 “Network” means the mobile cellular network operated by Airtel.
2.27 “Opt-in Function” means the proprietary menu option developed by Airtel Money and available on USSD, Airtel Money enabled SIM Cards that enables Airtel Money Subscribers to apply to Airtel to register for the Service.
2.28 “Amount Due” refers to any Facility amount, Fees, Charges that remains unpaid after the Facility Period.
2.29 “Kamilisha Limit” means the maximum Facility amount you are allowed on the Service as defined, established and communicated to you by us from time to time based in your credit score.
2.30 “Party” refers to You, I&M Bank,or Airtel Money singularly.
2.31 “Parties” means You, I&M Bank or Airtel Money jointly.
2.32 “PIN” means your personal identification number being the secret code used to access and operate your Equipment on the Airtel Money System including but not restricted to access and use of the Service.
2.33 “Recovery Expenses” include any costs incurred by us to recover Overdue Amounts.
2.34. “Repayment” means repayment of any amount due under the Service as defined in these Terms and Conditions including but not restricted to repayment of the Facility, Fees and Interest.
2.34 “Facility Term” means the period agreed for full Repayment of the Facility, being the earlier of full repayment of the Facility or Fifteen (15) calendar days from the date when the outstanding Facility was first granted. The Facility Term shall not be affected by any subsequent or further request made within the Overdraft Limit until the Facility is paid back in full.
2.35 “Request” means a request or instruction received by us from you or purportedly from you through the Network and the System and upon which we are authorized to act.
2.36 “Airtel Money” means a company incorporated in the United Republic of Tanzania whose principal place of business is at Airtel House corner of Ali Hassan Mwinyi Road & Kawawa Road, P.O. Box 9623, Dar Es Salaam, Tanzania
2.37 “Service” or “Kamilisha Loan” means the Airtel Money service which allows Airtel Money Subscribers to take a loan from their Airtel Money Accounts in order to complete transactions in Accordance with this Agreement.
2.38 “SIM Card” means the subscriber identity module which when used together with other prescribed Equipment enables an Airtel Money Subscriber to use the Airtel Money Service.
2.39 “USSD” means the USSD service provided by Airtel.
2.40 “Cash merchant outlet” the means a person appointed to offer Airtel Money registration, cash in and cash out services
2.41 “We,” “our,” and “us,” means both Airtel Money and I&M Bank and includes our successors and assigns.
2.42 “You” or “your” means the Customer and includes the Customer’s personal representatives and

3. Acceptance of the terms and conditions.

3.1 Before opting-in or registering for the Service, you should carefully read and understand these terms and conditions as they govern the access, use and operation of the Service. These Terms and Conditions are available on www.airtel.co.tz and https://www.imbank.com/tz/. Where you are unable to read and understand these terms and conditions from an electronic device you are requested to collect a printed version from any Airtel Shop.
3.2 If you do not agree with these terms and conditions, please click “Decline” on the Opt-in Function.
3.3 You will be deemed to have read, understood, and accepted these terms and conditions:
3.3.1. upon clicking on the “Accept” option on the Opt-in Function requesting you to confirm that you have read, understood, and agreed to abide by these terms and conditions; and or
3.3.2. by using or continuing to use and requesting for the Service.

3.4 By registering for the Service, you agree to comply with and be bound by these terms and conditions as amended and revised from time to time and you affirm that these terms and conditions are without prejudice to any other rights that we may have in law or otherwise regarding your registration, access, and use of the Service.
3.5 We may from time to time vary or amend these terms and conditions and your continued access and use of the Service constitutes your acceptance to be bound by the terms of any such amendment or variation

4. Registering for the service

4.1 By opting into the Service, you confirm that you are least eighteen (18) years old and a registered and active Airtel Money Subscriber for at least six (6) months immediately preceding the date of your application to register for the Service. We confirm that you are now a I&M Bank customer. We reserve the right to verify the authenticity and status of your Airtel Money Account and transactions and may decline your application if we are not satisfied that you have met these minimum requirements.
4.2 You may register for the Service on more than one MSISDN provided that these terms and conditions will apply to each Airtel Money Account that may be registered in your name.
4.3 You hereby agree and authorize us to exchange between Airtel Money and I&M Bank any of your personal information held by us in respect of provision of any Airtel Money or I&M Bank products and services including the Airtel Money Service. Such personal information includes but is not restricted to your phone number, name, date of birth, ID or Passport Number and such other information that will enable us to identify you and comply with the regulatory “know your customer” requirements (together the “Personal Information”).
4.4 You also hereby agree and authorize us to use information relating to your use of the Airtel Money service, Airtel Money System, and other Airtel Money products as we shall require for purposes of delivering the Services.
4.5 You hereby agree and authorize us to contact you for various loan services including loan recovery and surveys through different channels including SMS, OBD (Out Bound Dialer), IVR (Interactive Voice Response) and calls through our recovery agents.
4.6 You may opt into the Service solely by way of an electronic application made by you using your Equipment via the USSD or any other channel which may be added in future.
4.7 You hereby agree and authorize us to obtain and procure your Personal Information contained in the NIDA System and you further agree and consent to the disclosure and provision of such Personal Information by the Government of Tanzania to us.
4.8 You hereby further acknowledge and authorize us to verify your Personal Information in our custody against the information received from the Government of Tanzania in your respect as contained in the NIDA.
4.9 We reserve the right to request further information from you pertaining to your application to register for the Service at any time. Failure to provide such information within the time we require may result in a decline of your application to register for the Service.
4.10 Our acceptance or decline of your application to register for the Service shall be communicated through an SMS sent to your Airtel registered mobile phone number (MSISDN) associated with your Airtel Money account and or Equipment. You acknowledge and accept that our acceptance of your application to register for the Service creates a separate and distinct contractual relationship between you and Airtel Money outside the terms and conditions that apply to your Airtel Money Account from time to time.
4.11 We reserve the right to decline your application to register for the Service or, subject to 15 days’ notice or such other notice as may be required by law, to revoke your registration on the Service. Where we decline your application to register or revoke your registration, we shall endeavor to formally communicate to you our reasons for the same.

5.     Your Requests

5.1 You hereby irrevocably authorize us to act on all Requests received by us using your Airtel Money PIN and to hold you liable in respect thereof. We may nevertheless refuse to conduct any requests beyond the scope of the Service as offered from time to time.
5.2 We shall be deemed to have acted properly and to have fully performed all our obligations upon our compliance with the Request. We may ask for further information or confirmation (whether written or otherwise) from you before complying with a Request but shall not be obliged to comply with a Request in the absence of such further information or confirmation.
5.3 We shall decline any Request for a Facility under the Service if you exhaust your Kamilisha Limit or Airtel Money transactional limit (as communicated by Airtel Money) and reserve the right to partly decline your Request if fully complying with the same would cause you to exceed the Kamilisha Limit or Airtel Money transactional limit. In deciding whether to offer you the Service, we shall take account of any outstanding Facilities plus Fees and interest on your Airtel Money Account in accordance with these terms and conditions or the terms and Conditions relating to the Airtel Money Service. We shall not be obliged to take account of regular credits, or any amounts received after declining such Request.
5.4 You hereby authorize us to affect such orders and act on such instructions in respect of your Airtel Money Account as may be required by the Government or any court order or by a competent authority or agency under the applicable laws.

6.     Requesting a Facility

6.1 Upon opting into the Service, you will receive a confirmation message bearing your Kamilisha Limit.
6.2 If you are not allocated Kamilisha Limit, you must continue to transact on Airtel Money and use your Airtel SIM services such as voice and data to build a transaction history and enhance your credit score in order to be eligible - for Kamilisha Limit.
6.3 By accepting these Terms and Conditions, you agree and admit that we reserve the exclusive right to set the Kamilisha Limit.
6.4 You may check your Kamilisha Limit using the appropriate menu option provided on your Equipment through Airtel Money USSD or any other channel which may be added in future.
6.5 You acknowledge that any Facility granted to you will result in an overdraft on your Airtel Money Account up to the equivalent of the value of the Facility, Fees, and Interest applicable to the Facility. The Fees and Interest will be added onto the Facility and deducted from your Airtel Money Account when you repay your facility through the Airtel Money USSD. The Fees will include any applicable taxes, levies, and excise duties applicable under the law.
6.6 Your Request for a Facility will be appraised according to our Facility appraisal procedures. We reserve the right at our sole discretion and, without assigning any reason, to approve or decline such Request. Communication of our acceptance or decline of your Request will be via SMS sent to your Airtel mobile phone number (MSISDN) and or Equipment.
6.7 Any Facility granted must be repaid in full within Thirty (30) days from the date when the Facility was first granted (the first draw down date). You will not qualify for any new or additional Facility where any facility remains outstanding beyond the Thirty (30) days or are in default of any of the Terms and Conditions of the Facility including these terms and Conditions.
6.8 You may Request for the Facility multiple times within the Facility Term subject to the
Kamilisha Limit.

7.     Kamilisha limit

7.1 We may from time to time prescribe the minimum and maximum Facility you may be able to Request on the Service. Such limits will be communicated through SMS, our website, www.Airtel.co.tz or may obtained from any Airtel Shop.
7.2 The Kamilisha Limit is subject to review from time to time and we reserve the right to vary your Kamilisha Limit without giving any reasons. We shall notify you of any variation to the Kamilisha Limit and your continued use of the Service will constitute acceptance of your revised Kamilisha Limit.
7.3 Where you have any outstanding Facility for more than Thirty (30) days, your right to use the Service and any un-utilized Kamilisha limit will be suspended forthwith.

8.   Credit scoring

Your Kamilisha Limit and our continued approval of your Requests for a Facility will be determined
by your credit score. Your credit score will be assessed based on various matters including the information obtained from your use of Airtel Services and the Airtel Money Service and repayment history on your existing Kamilisha Limit.

Your Kamilisha Limit and our continued approval of your Requests for a Facility will be determined by your credit score. Your credit score will be assessed based on various parameters including the information obtained from your use of Airtel phone Services, Airtel Money Service, the Kamilisha loan repayment history and that of other lenders through the Credit Reference bureaus.

9.  Repaying the facility

9.1 Provided that no event of default (as outlined in this Agreement) has occurred it is agreed that the Facility shall be available on an ongoing/continuous basis for a period of Thirty (30) days from the first date of utilization of the Facility (The Facility Term).
9.2 After the expiry of the Facility Term, we reserve the sole discretion to renew or extend the Facility Term. Subject to our periodic review of your limit as set out in Clause 7, you acknowledge that the renewal or extension will be under the existing terms and conditions. You will be notified of each instance of renewal or extension of the Facility Term.
9.3 You must repay your outstanding Facility, Fees, and Interest by accessing the repayment menu on Airtel Money USSD. You are responsible to ensure your outstanding Facility, Fees and Interest are repaid on or before the Thirty (30) day from your first facility drawdown.
9.4 We may terminate our relationship with you and suspend your access to the Service if you fail to repay the Facility in full together with any outstanding Fees within the Facility Term.
9.5 You may make multiple repayments during your Thirty (30) day facility term until your Facility, Fees and Interest are repaid in full.
9.6 Any funds repaid from you Airtel Money Account shall be applied towards Repayment of the amount due in the following order of priority:
9.5.1. First in repayment of all Fees and Interest.
9.5.2. Secondly towards repayment of the Facility.
9.7 You irrevocably instruct us to automatically recover the outstanding facility amount inclusive of fees where applicable from your Airtel Money Account after due date. In order to affect this, we shall automatically debit the amount due from the credits deposited or received into your Airtel Money Account at any time until the Facility is fully repaid.

10.  Events of default

An event of default occurs:

10.1 Where any Facility is due and unpaid for Thirty (30) days or more, or
10.2 If any representations or statements or particulars made by you are found to be incorrect; or
10.3 If you commit any breach or fail to observe, keep, or perform any of the terms, conditions
covenants or provisions of any other agreement between us and yourself in respect of the facility; or
10.4 If there is reasonable apprehension that you are unable to pay your debts, or we receive any notice that you have admitted any inability to pay your debts as they become due; or
10.5 If you are convicted under any criminal law in force related to use of the services or any other related services; or
10.6 If any judgement or decree in any legal proceedings is passed against you which is not satisfied within seven (7) days of demand, or
10.7 If a Garnishee or Attachment Order or a lien created against any of your deposits with us or assets maintained by you is made.
10.8 If you commit any breach or fail to observe, keep or perform any of the terms, conditions covenants or provisions of any other agreement between us and yourself in respect of the Facility; or

11.  Consequences of default:

11.1    At any time after an Event of Default has occurred which is continuing, we may, without prejudice to any other right or remedy granted to us under any law:

• 11.1.1. terminate the Services in accordance with clause 23 below;
  11.1.2. declare that the Facility (inclusive all fees and charges) and all other amounts
  outstanding under these Terms and Conditions is immediately due and payable, whereupon
  you shall be required to settle the Facility with immediate effect; and
  11.1.3. submit information concerning the Event of Default to Credit Reference Bureaus as
  required under the Banking Act or any other regulatory body.
  11.1.4. take reasonable measures including engaging an independent debt-collection agency,
  to recover the amount in default.

12.  Using the facility

12.1 You may only utilize your Facility to complete the following transactions on Airtel Money via USSD and any other channel which may be added in future (hereinafter “Permitted Transactions”) to the extent that funds available on your Airtel Money Account would otherwise be inadequate to complete payment for the Permitted Transaction:
12.1.1. to send money to registered Airtel Money customers.
12.1.2. To make payments via Merchant Transactions “Lipia Bili” transactions. We may from time to time add or withdraw the Permitted Transactions.
12.1.3. To purchase Airtime on your Airtel SIM;
12.1.4. To purchase Bundles on your Airtel SIM
12.1.5. To send money to a registered user on another telco network “Tuma kwa mtandao mwingine”.
12.2 Your Facility will be applied strictly for completion of Permitted Transactions.
12.3 You accept that completion of the Permitted Transactions and all matters arising from or related to completion of the Permitted Transactions shall be strictly governed by the term and conditions for the Airtel Money Service.
12.4 We reserve the right to vary the Fees payable thereon from time to time having regard to the prevailing rules and regulations and our policies provided that increase of fees and charges will be affected thirty (30) days after issuance of a notice of the intended increment.

13.  Security rights

• You agree not to terminate or cancel registration of your Airtel mobile phone number (MSISDN) when
  you have any Outstanding Amounts

 Statements

• 13.1 We shall from time to time, through Airtel and at your Request, provide you with statement(s)
  or activity report(s) in respect of your Airtel Money Account on your Equipment through the USSD (“the Mini Statement”). You may also from time-to-time request Airtel for statement(s) or activity reports in respect of your Airtel Money Account through the same channels.
  13.2 The Mini Statement will provide details of your last five (5) transactions on the Service or such other number of transactions as we may determine.
  13.3 The Mini Statement will not be sent to you in printed form but will be delivered to you either by SMS to the Airtel mobile phone number (MSISDN) associated with your Airtel Money Account or such other electronic means as we may determine. You shall be responsible for the payment of any charges associated with delivery of the Mini Statement to you.
  13.4 You may obtain your full statement or the Mini Statement in printed form from your nearest Airtel Shop. You shall be responsible for payment of any charges payable for such printed statements.
  13.5 The full statement and or Mini Statement will show all transactions conducted on your Airtel Money Account during the period requested and or since the previous statement. You must check your statement carefully and inform us as soon as possible, of any errors or anomalies or transactions not made in accordance with your instructions.
  13.6 You will be deemed to have accepted all entries in your Statement if you do not raise queries or objections on the entries therein within fifteen (15) calendar days from the statement date.
  13.7 Save for a manifest error, the full statement and or Mini Statement issued to you aforesaid in respect of your Airtel Money Account shall be conclusive evidence of the transactions carried out on your Airtel Money Account for the period covered in the Mini Statement and or full statement.
  13.8 We reserve the right to rectify discrepancies, add and or alter the entries in your full statements or Mini Statement, without prior notice to you. We will however inform you of any rectification, additions and or alterations effected on your statements within seven (7) days before the changes are affected.
  13.9 You will be notified of all transactions on your Airtel Money Account by way of SMS.

14.   Loss of equipment and unauthorized transactions

14.1 If you lose your Equipment or you for any reason you believe that an unauthorized person may have accessed your PIN, you shall immediately notify the Airtel Customer Care Centre at 100 for assistance.
14.2 Until and unless we receive your notice of loss or unauthorized access of the PIN as above, we shall remain authorized to accept any Requests on your Airtel Money Account using your PIN.
14.3 You shall give us and any person acting on our behalf all necessary assistance in any investigations, all information as to the circumstances of the loss or possible misuse of your Equipment or PIN to enable us to take all reasonable steps mitigate the loss incurred or likely to be incurred as a result of loss of the Equipment or misuse or unauthorized access to your PIN.
14.4 You consent to the disclosure by us to third parties of such information as is relevant concerning your Airtel Money Account in connection with such loss of your Equipment or possible misuse or unauthorized access of your PIN.

15.  Customer complaints

15.1 Complaints shall be made by calling 100 or by visiting any Airtel Shop.
15.2 We will take all reasonable measures within our means to resolve your complaints in accordance with the Airtel Money Terms and Conditions. We will manage all complaints in accordance with our complaints handling procedures, which are available on request from any Airtel Shop or the Airtel Customer Care Centre at 100. Where a notification regarding your complaint or any other matter is expected from us but not received, you are entitled to follow up on the complaint within a reasonable time after non-receipt of such notification.

16.  Fees, charges and expenses

16.1 You are responsible for the payment of all applicable Fees and Interest Rates for the use of
the Service. The Fees payable under this Service will be published in information pamphlets, daily newspapers, cash merchant outlets and on the I&M Bank and Airtel websites. Airtel’s Customer Care team will be on hand to assist you with the Fee and Interest schedule if you are uncertain about the applicable Fee and Interest Rates.
16.2 All Fees and Interest charges are deducted at source and are subject to change at any time at our sole discretion.
16.3 Fees payable under the facility will be deducted from your Airtel Money Account when you make a manual repayment through the Airtel USSD system or any other channel which may be added in future.
16.4 You hereby agree to pay all Transaction Fees for repayment on your outstanding Facility, Fees, and Interest charges.
16.5 We shall, at the time when you make any Request on the Service notify you of the applicable Fees and Interest Rates to afford you an opportunity to confirm your knowledge and acceptance of them.
16.6 We shall provide a detailed breakdown of the Fees and Interest incurred in the full statement and Mini statement.
16.7 Fees relating to your use of the Airtel Money Service shall be strictly in accordance with the prevailing terms and conditions for Airtel Money Service.

17.  Taxes

• All repayments are inclusive any taxes payable by you. You hereby irrevocably grant us permission to
  revise the Fees upon any changes to taxes applicable.

18.  Your personal information

18.1 You hereby expressly consent and authorize us to disclose, receive, record, or utilize your personal information or information or data relating to your Airtel Money Account with respect to the Facilities granted under the Service and any details of your use of the Services:
19.1.1. to and from our service providers, dealers, agents, or any other company that may be or become - our affiliate or subsidiary or holding company for reasonable commercia  purposes relating to the Services;
19.1.2. to a Credit Reference Bureau;
19.1.3. to independent debt-collection agencies;
19.1.4. to our lawyers, auditors, or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;
19.1.5. for reasonable commercial purposes connected to your use of the Services, such as marketing and research related activities; and
19.1.6. in business practices including but not limited to quality control, training and ensuring effective systems operation.
18.2 You authorize us to disclose any information relating to your Airtel Money Account to any local, foreign, or international law enforcement or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud or to any other institution or third party as required by the laws of any country and as we may deem necessary.
18.3 You authorize us to disclose, respond, advise, exchange, and communicate the details or information pertaining to your Airtel Money Account and or your Facility to third parties involved in the administration of your Airtel Money Account and Facilities, underwriting of insurance policies, updating of databases, or provision of user support.
18.4 You shall notify your nearest Airtel Shop in writing of any changes to your Personal information or update the same through the Equipment on USSD including but not restricted to your name and address. Until such notice is received, your Personal information shall be deemed to be that which you provided in your application to register for the Service.

19.  Your equipment and responsibilities

19.1 You shall at your own expense provide and maintain in safe and efficient operating order such Equipment necessary for the purpose of accessing the Services. You shall be responsible for ensuring the proper performance of your Equipment. We shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall we be responsible for any computer virus or related problems that may be associated with your access and use of the Services and Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and we shall not be responsible for losses or delays caused by any such service provider.
19.2 You shall follow all instructions, procedures and these terms and conditions and any other documents we may provide you concerning access and use of the Services and Equipment.
19.3 You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your PIN secret and secure. You shall ensure that your PIN does not become known or come into possession of any unauthorized person. We shall not be liable for any disclosure of your PIN to any third party, and you hereby agree to indemnify and hold us harmless from any loss and damage we may incur as a result of your intentional, negligent or reckless disclosure of the PIN.
19.4 You shall take all reasonable precautions to detect any unauthorized use of your Equipment, PIN and or the Services and immediately notify Airtel to enable us to take steps to protect your Airtel Money Account.
19.5 You shall immediately inform us through the Customer Care Centre by dialing 100 from you Airtel SIM if:
20.5.1. You have reason to believe that your PIN is or may be known to any person not authorized to know the same and/or has been compromised; or
20.5.2. You have reason to believe that unauthorized use of the Service has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.
19.6 You shall always follow the security procedures we notify you 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 responsibility to keep Personal Information confidential. 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 by you.

20.  Intellectual property rights

• You acknowledge that the intellectual property rights in the Service (and any amendments, upgrades,
  or enhancements thereto from time to time) and all associated documentation that we provide to you
  are vested either in Airtel or I&M Bank. You shall not infringe any such intellectual property rights.
  Classification: Public
  You shall not duplicate, reproduce or in any way tamper with any documentation or functionality on
  the Equipment and USSD without I&M Bank and Airtel’s prior written consent.

21.  Indemnity

21.1 In consideration of the Bank complying with your instructions or Requests in relation the Airtel Money Account, you undertake to indemnify us and hold us harmless against any loss, charge, damage, expense, fee or claim which - we may suffer or incur or sustain thereby and you absolve us from all liability for loss or damage which you may sustain from us acting on your instructions or requests or in accordance with these Terms and Conditions.
21.2 The indemnity in clause 22.1 shall also cover All demands, claims, actions, losses and damages of whatever nature which may be brought against any of us or which we 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 equipment, 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 the our 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 us.
21.3 The Indemnity in Clause 22.1 shall also cover 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 Airtel Money 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
Equipment, 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 us as a consequence of any breach by these Terms and Conditions by you.

22.  Variation and Termination of Relationship

22.1 We may at any time, upon notice to you, terminate or vary our business relationship with you
and suspend or discontinue your registration and or access to the Service:
23.1.1. if you use the Service or Facility for unauthorized purposes or where we detect any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
23.1.2. if your Airtel Money Account or agreement with Airtel is terminated for whatever reason;
23.1.3. if we are required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator, or other competent authority to that effect or necessitating it;
23.1.4. if we reasonably suspect or believe that you are in breach of these terms and conditions (including nonpayment of any amount due from you where applicable);
23.1.5. where such a suspension or variation is necessary because of technical problems or for reasons of your safety or public access fees.
23.1.6. to facilitate update or upgrade the contents or functionality of the Services from time to time;
23.1.7. where your Airtel Money Account becomes inactive or dormant or is deemed abandoned.
23.1.8. if we decide to suspend or cease provision of the Services for commercial reasons or for any other reason as we may determine.

23.  Breach of terms and conditions

• In the event of any breach of these terms and conditions, we may in circumstances where you fail to
  comply or fail procure compliance with the terms of a notice consequently served on you, require
  immediate repayment in full of the Facility and/or forthwith terminate the contractual relationship
  with you without any consequential liability to you or any other person

24.  Dispute resolution, jurisdiction and arbitration

• 24.1 You may contact the Airtel Customer Care Center to report any disputes, claims or discrepancies in your Airtel Money Account.
  24.2 This Agreement shall be governed by and construed in accordance with the laws of the Republic of Tanzania.

25.  Death or bankruptcy

• On your death or bankruptcy, your obligations shall remain in full force and effect until such a time as
  they shall be duly satisfied.

26.  Notice

• Without prejudice to any other clause in these terms and conditions, all notices concerning the Service may be sent via SMS to the Airtel mobile phone number (MSISDN) associated with your Airtel Money Account and shall be deemed received even if we do not receive a delivery failure notice

27.  Miscellaneous

• 27.1 These terms and conditions (as may be amended from time to time) form a legally binding
  agreement binding on you and your personal representatives and successors.
  27.2 This Agreement and any rights or liabilities accruing thereunder may not be assigned by you
  to any other person.
  27.3 We may vary or amend these terms and conditions and bank tariffs at any time and without
  consultation to you provided that the Bank shall upon reasonable notice, inform you of any such variations or amendments in advance of their intended commencement date and such notice and particulars of the variations including the amended version of these terms and conditions shall be published on the I&M Bank and Airtel websites and may, additionally, be published in posters or pamphlets and availed at Airtel Shops, I&M Bank branches or in the daily newspapers or by any other means as we may determine.
  27.4 No failure or delay by either yourself or on our part 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.
  27.5 The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
  27.6 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 enforceability of such provision shall not affect the other provisions herein.
  27.7 Any variations or amendments to these terms and conditions shall be binding upon you as fully as if the same were contained in these terms and conditions.
  27.8 Your contractual relationship with us is governed in all respects by the Laws of Tanzania and the parties submit to the exclusive jurisdiction of the Tanzania courts.