TERMS OF SERVICE

Welcome to Mashele Finance

Thank you for choosing Mashele Finance PTY Ltd (FSP 55445 & NCRCP19670). These Terms of Service explain how our relationship works, what you can expect from us, and what we need from you. We have written this in clear, straightforward language because we believe transparency builds trust.

By using our services, applying for our products, or visiting our website, you agree to these terms. Please take a few minutes to read through them. If anything is unclear, we are always here to help.

Agreement and Acceptance

These Terms of Service constitute a binding legal agreement between you and Mashele Finance. By accessing our website, submitting an application, or using any of our products or services, you confirm that:

• You are at least 18 years old and legally able to enter into contracts
• You have read, understood, and agree to be bound by these terms
• All information you provide to us is true, accurate, and complete
• You will comply with all applicable South African laws and regulations

These terms should be read together with our Privacy Policy, POPIA Compliance notice, and FICA Compliance information, which form part of this agreement.

Our Services

Mashele Finance offers the following financial products and services:

• Personal Loans: Short term loans ranging from R500 to R3,000
• Funeral Cow Cash Plan: Funeral cover with R15,000 cash payout or live cow benefit
• Funeral Grocery Cash Plan: Funeral cover with R10,000 cash payout or grocery equivalent benefit

Each product has specific terms and conditions outlined in the sections below. We are committed to providing you with clear information about costs, benefits, and obligations before you commit to any product.

Personal Loans: Terms and Conditions

Loan Amounts and Approval

We offer personal loans between R500 and R3,000. The amount you qualify for depends on your affordability assessment, credit history, and our lending criteria. Here is what you should know:

• Mashele Finance reserves the right to approve or decline any loan application at our discretion
• Approval is subject to successful identity verification, credit checks, and affordability assessments
• The final loan amount, interest rate, and repayment date will be clearly communicated before you accept the loan
• You have the right to decline the loan offer if the terms do not suit your needs

Interest Rates and Fees

Our interest rates comply with the National Credit Regulator (NCR) regulations for short term credit. All costs are disclosed upfront so there are no surprises:

• Interest is calculated in accordance with the National Credit Act
• Any administrative or service fees will be clearly stated in your loan agreement
• You will receive a detailed breakdown of all costs before signing
• No hidden fees or charges will be added after you accept the loan

Repayment Terms

Repayment is typically due on your next payday, and we make it as convenient as possible:

• Your repayment date is agreed upon before the loan is disbursed
• Payment will be collected using your chosen repayment method (debit order, direct deposit, or other agreed method)
• You will receive reminders before your payment is due
• If you anticipate difficulty making payment, please contact us as soon as possible to discuss options

Early Settlement

Good news: you can pay off your loan early without any penalties. If you settle early:

• Interest and fees will be recalculated up to the settlement date
• You will only pay for the time you actually had the loan
• Contact us to request your settlement amount and payment instructions

Missed Payments and Default

We understand that unexpected circumstances can arise. However, it is important to understand the consequences of missed payments:

• Your loan will be considered unpaid if we do not receive payment within 2 days after the approved repayment date
• We will send you written notice giving you reasonable time to make payment
• Continued non payment may result in your account being reported to credit bureaus, which can affect your credit score
• In cases of persistent default, we may initiate debt collection procedures or legal action as permitted under the National Credit Act
• You will be responsible for all reasonable legal and collection costs permitted by law

We always prefer to work with you to find a solution. If you are experiencing financial difficulties, please reach out to us immediately so we can explore alternative arrangements.

Funeral Cover Plans: Terms and Conditions

Our funeral cover plans provide financial support when you need it most. Here is everything you need to know about how they work.

Coverage Options

We offer two funeral benefit options:

• Funeral Cow Cash Plan: Provides a R15,000 cash payout or a live cow upon the death of a covered member
• Funeral Grocery Cash Plan: Provides a R10,000 cash payout or grocery equivalent upon the death of a covered member

You choose which benefit option works best for your family and cultural traditions. The choice is yours, and you can discuss this with our team when you sign up.

Premium Payments

Your monthly premiums keep your cover active and ensure your family is protected:

• Premiums must be paid on or before the due date each month
• Your cover will be considered unpaid if we do not receive payment within 2 days of your premium due date
• If payment is not received within 6 days of the premium date, your cover will lapse
• You will receive reminders before your premium is due
• It is your responsibility to ensure sufficient funds are available for payment

Lapsed Cover and Reinstatement

If your cover lapses due to non payment, you have options to reinstate it:

• You can reinstate your cover within 2 months of the lapse date by paying all missed premiums
• If you reinstate within 2 months, your original waiting period will continue from where it left off
• If you reinstate after 2 months, a new 6 month waiting period will apply
• No claims will be paid for deaths that occur while the cover is lapsed

If you choose not to reinstate and instead apply for a new plan, the full waiting period will apply as with any new policy.

Waiting Period

There is a 6 month waiting period from your first premium payment before any claim can be made. This is standard practice in the funeral insurance industry and helps keep premiums affordable for everyone. Here is what you need to know:

• The waiting period starts from the date of your first premium payment
• No benefits will be paid if death occurs during the waiting period
• Exception: Accidental death claims are covered immediately, even during the waiting period
• The waiting period applies to all members added to your plan

Suicide Exclusion

There is a 2 year suicide exclusion period from the date each member is added to the plan. This means:

• No benefit will be paid if death is due to suicide within the first 2 years of cover
• After 2 years, suicide is covered like any other cause of death
• This exclusion is standard across the funeral insurance industry

Member Management

You have full control over who is covered under your plan:

• You can add or remove members through our platform or by contacting us
• Only members registered on your plan at the time of death qualify for benefits
• New members added to your plan will have their own waiting periods
• By adding members to your plan, you agree that you are responsible for their funeral expenses and confirm that you are not responsible for their death
• You must notify us immediately if a covered member passes away

Claims Process

When the difficult time comes, we want to make the claims process as smooth as possible:

• Contact us immediately to report a death and start the claims process
• We will guide you through the required documentation, which typically includes a death certificate, ID documents, and claim forms
• Once we receive all valid and complete documentation, claims are paid within 24 hours
• Benefits are paid to the policyholder or designated beneficiary

Claims Assessment and Validation

To protect all our members and ensure fairness, we carefully assess all claims:

• Mashele Finance reserves the right to investigate and reject suspicious or invalid claims
• We may request additional documentation or information to validate a claim
• Fraudulent claims will result in immediate policy cancellation and possible legal action
• We will not pay claims on lapsed, cancelled, or fraudulently obtained policies

Your Responsibilities

To ensure a smooth relationship and proper service delivery, we need you to:

• Provide accurate, truthful, and complete information in all applications and communications
• Notify us promptly of any changes to your personal details, contact information, or financial circumstances
• Maintain sufficient funds for repayments or premium payments
• Read and understand all agreements before signing
• Comply with all terms and conditions of your specific product
• Keep your login credentials secure and confidential
• Report any suspicious activity on your account immediately
• Treat our staff, consultants, and affiliates with respect

Our Responsibilities

We commit to providing you with professional, transparent, and compliant financial services:

• Treating you fairly and with respect at all times
• Providing clear information about our products, costs, and terms
• Processing your applications and claims efficiently
• Protecting your personal information in accordance with POPIA and our Privacy Policy
• Complying with all applicable laws and regulations, including the National Credit Act, FICA, and FAIS Act
• Maintaining professional standards as a registered Financial Service Provider
• Responding to your queries and concerns promptly

Website Use and Online Services

When using our website and online services, please note the following:

Acceptable Use

• You may use our website and services only for lawful purposes
• You must not attempt to gain unauthorized access to our systems or data
• You must not use our website to transmit harmful code, viruses, or malicious software
• You must not impersonate another person or misrepresent your identity
• You must not interfere with the proper functioning of our website

Account Security

• You are responsible for maintaining the confidentiality of your login credentials
• You must notify us immediately if you suspect unauthorized access to your account
• We are not liable for losses resulting from unauthorized use of your account if you have not properly secured your credentials

Website Availability

• While we strive for continuous availability, we do not guarantee uninterrupted access to our website
• We may suspend access temporarily for maintenance, updates, or technical issues
• We will make reasonable efforts to provide notice of planned downtime

Intellectual Property

All content on our website, including text, graphics, logos, images, and software, is the property of Mashele Finance or our licensors and is protected by copyright and other intellectual property laws.

You may view and print content for personal, non commercial use only. You may not reproduce, distribute, modify, or create derivative works without our written permission.

Third Party Links and Services

Our website may contain links to third party websites or services. These are provided for your convenience only:

• We do not endorse or control third party websites
• We are not responsible for the content, privacy practices, or terms of third party sites
• Your use of third party websites is at your own risk
• We encourage you to review the terms and privacy policies of any third party sites you visit

Limitation of Liability

While we take every reasonable step to provide accurate information and reliable services, please note:

• We are not liable for any indirect, incidental, or consequential damages arising from your use of our services
• Our total liability is limited to the amount paid by you for the specific product or service in question
• We are not liable for losses resulting from circumstances beyond our reasonable control
• These limitations do not affect your statutory rights as a consumer

Complaints and Dispute Resolution

We value your feedback and want to resolve any concerns quickly and fairly:

Internal Complaints Process

• Contact us using the details provided below to lodge a complaint
• We will acknowledge your complaint within 2 business days
• We aim to resolve all complaints within 30 days
• You will be kept informed of progress throughout the process

External Dispute Resolution

If you are not satisfied with our resolution, you have the right to escalate your complaint to:

• The Financial Sector Conduct Authority (FSCA)
• The National Credit Regulator (NCR) for credit related matters
• The Ombud for Financial Services Providers

Amendments to These Terms

We may update these Terms of Service from time to time to reflect changes in our services, legal requirements, or business practices. When we make changes:

• We will post the updated terms on our website with a new effective date
• For material changes, we will notify you via email or prominent website notice
• Your continued use of our services after changes take effect constitutes acceptance of the new terms
• If you do not agree with the changes, you may terminate your relationship with us

Termination

Either party may terminate this agreement under certain circumstances:

Your Right to Terminate

• You may close your account or cancel products at any time by contacting us
• Outstanding loan balances must be settled before account closure
• Funeral cover can be cancelled, but no refunds are provided for premiums already paid

Our Right to Terminate

We may suspend or terminate your access to our services if:

• You breach these terms or any product specific agreement
• You provide false or fraudulent information
• You engage in abusive or threatening behavior toward our staff
• Required by law or regulatory authority
• We cease offering a particular product or service

General Provisions

Governing Law

These Terms of Service are governed by the laws of the Republic of South Africa. Any disputes will be subject to the exclusive jurisdiction of South African courts.

Entire Agreement

These terms, together with our Privacy Policy, POPIA notice, FICA notice, and any product specific agreements, constitute the entire agreement between you and Mashele Finance.

Severability

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

Waiver

Our failure to enforce any right or provision of these terms does not constitute a waiver of that right or provision.

Assignment

You may not transfer or assign your rights or obligations under these terms without our written consent. We may assign our rights and obligations to any successor entity.

Contact Us

If you have any questions about these Terms of Service or need assistance with our products, please contact us: