1.1. This Agreement sets out the complete Terms and Conditions which shall apply between the Borrower and the Service Provider.

  1.  Definitions 

2.1. “Merchant” refers to a person or company that sells goods and services on the Flex Pay online platform. 

2.2. “Product” refers to a good or service sold on the Flex Pay online platform. 

2.3. “Borrower” refers to a customer buying goods and services on the Flex Pay online platform.

2.3.1. “Financier” refers to the company providing the borrowed funds on behalf of the Borrower

2.3.2. “Service Provider” refers to the company facilitating the loan transaction between the Financier and the Borrower.

2.4. “Accelerated payment” is a term generally associated with making additional unscheduled payments on an invoice by way of loan to the Customer.

2.5. “Purchase Amount” refers to the price pegged on a product or service on sale on the Flex Pay online platform.

2.6.  “Parties” means the parties to this Agreement.

2.7. “Credit only services” means the provision of loan facilities to applicants without being a deposit-taking institution, which the Financier falls under.

2.8. “Credit Amount” means the amount requested by the Customer, which in this case is {Loan Amount} Kshs. 

2.9. “Loan” means the amount advanced to the borrower by the Financier/Service Provider on account of the Borrower’s for the purpose of this Agreement.

2.10. “Disbursement” means the date when the Financier/Service Provider has Credited loan Amount to the account of the Borrower for the purpose of this Agreement.

2.11. “Repayment Due date” means the due date for the repayment of loan, in this case is 30 days from the date of disbursement.

2.12. “Loan Period” means the period between the Disbursement date and the repayment due date, in this case is 30 days or until the Borrower has cleared all the whole loan.

2.13. “Days in Arrears” means a period of days when an overdue amount of a loan is not cleared. 

2.14. “Handover” means the act where the Financier/Service Provider passes over all the rights and responsibilities of a Loan to a third party(recovery agent), which occurs when the Days in Arrears of the Loan reaches 31 days.  

2.15. “Business Day” means a day, other than a Sunday or public holiday in Kenya, on which banking institutions are generally open for the conduct of business.

2.16. “Parties” means the parties to this Agreement.

2.17. “Booking Reference” means Flexpay’s unique booking identifier for the Customer’s product within the system. It is generated by the Flexpay system automatically and is composed of a combination of letters and numbers.

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

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


3.1. The Financier/Service Provider shall assess the Borrower’s eligibility for the loan based on previous repayment history.

3.2. The applicable interest rate for the loan shall be 10% per month. Penalty interest of 3% per day shall be charged on interest after the due date.

3.3.   After loan approval and upon signing of this Agreement by the Parties, the borrowed funds shall be disbursed to the borrower’s Phone or Flex Pay wallet on behalf of the Borrower where the money is intended for purchase of goods in the FlexPay platform.

3.4. The Service Provider shall communicate with the Borrower about the Loan including, but not limited to, the Repayment Schedule and the reminders of the Repayment Due, by way of SMS, email or phone call. 

3.5. The Borrower may contact the Financier/Service Provider at any time when they need clarification and any inquiries on the Loan.

3.6. The maximum loan period shall be 30 days. However, a Borrower may remit the loan repayments daily, weekly or biweekly  if they so wish, until the installment is cleared.


4.1. The Financier/Service Provider may forward the Borrower’s credit information to a licensed credit reference bureau for blacklisting if the Borrower does not repay the balance of the Loan within the Loan Period.

4.2 A penalty interest rate of 3% per day shall be charged on interest from due date until fully cleared. The outstanding balance shall be prorated per day.

4.3. The Service Provider may recruit a specialized loan recovery agent for the purpose of recovering any outstanding Loan Balance and/or transaction charges if the Borrower fails to repay the provided Loan within the stipulated Loan Period at borrower’s cost.

4.4. The recovery agent reserves the right to use any method and more within the Laws of Kenya to recover any defaulted amount.

4:5 The Borrower hereby undertakes to indemnify the Financier/Service Provider against any claim that may arise as a result of any breach of the agreement or any demand of unpaid loan. 


5.1. By Agreeing to this terms and conditions, the Borrower authorizes us to reveal, receive, record or utilize the Borrower’s information or data (including transaction data) relating to the Borrower’s use of our Services:

5.1.1. To any local or international law enforcement or competent regulatory or governmental agencies for purposes of aiding in the prevention, detection, investigation or prosecution of criminal activities or fraud;

5.1.2. To a Credit Reference Bureau; 

5.1.3. To any third party involved in the provision of the Credit Services; 

5.1.4. To our lawyers, auditors, debt collectors, loan recovery agencies or other professional advisors or to any court or arbitration tribunal for the purposes of any proceedings; 

5.1.5. For reasonable commercial purposes connected to the Borrower’s use of the Services, such as marketing and research-related activities; and 

5.1.6. For any business practices including but not limited to quality control, training and ensuring effective systems operation. 

5.2. The Borrower acknowledges that the Service Provider may retain the Borrower’s transaction data for a period of up to seven (7) years or as may be required by any law or regulation. 

5.3. The Service Provider respects the Borrower’s privacy and at all times, we shall endeavor to ensure that information shared with any third party is shared on a confidential basis and strictly to the extent necessary for purposes of provision of the Services or for any purpose set out under these Terms and Conditions. 


6.1. The duration of the Agreement shall be 30 Calendar Days as from the date of disbursement.


7.1. Any dispute between the parties shall be determined by a Court of competent jurisdiction in Kenya.

7.2. This Agreement shall be governed by and construed in accordance with the Laws of Kenya.

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