TravelFlex Fast Credit Loan Agreement

LOAN AGREEMENT

1. The Loan

1.1 Fast Credit Limited ("Fast Credit") agrees to make the loan described in the application and repayment schedule available to the borrower (the "Borrower"), subject to the terms and conditions of this agreement (the "Agreement").

1.2 The loan amount, tenor, repayment dates, and other transaction details are set out in the application and repayment schedule accepted by the Borrower.

1.3 Once Fast Credit disburses the loan to the travel agent's designated account on the Borrower's behalf, interest will apply in accordance with this Agreement, including where the Borrower elects to repay the loan before the end of the agreed tenor.

1.4 Payment by Fast Credit into the travel agent's designated bank account constitutes disbursement of the loan to the Borrower for the purpose stated in the application.

1.5 By signing this Agreement, the Borrower acknowledges and accepts that disbursement to the travel agent is made for the Borrower's benefit and creates the repayment obligations set out in this Agreement.

2. Interest

Fast Credit will charge interest on the loan amount at a fixed rate of 4% per month for the agreed loan tenor. If the Borrower fails to pay an amount due under this Agreement on its due date, Fast Credit may continue to charge interest on the overdue amount at the same rate, subject to applicable law.

3. Insurance

Fast Credit will deduct 1.5% of the approved loan amount as the applicable insurance charge for the loan.

4. Repayment

4.1 The Borrower must repay the loan in the amounts and on the dates stated in the accepted repayment schedule.

4.2 The Borrower authorises the agreed monthly instalments to be deducted in full from the Borrower's salary through the Borrower's employer's payroll.

4.3 If the Borrower's employment ends for any reason before the loan has been repaid in full, the Borrower authorises Fast Credit, subject to applicable law, to recover any outstanding amount from unpaid wages, terminal benefits, or other remuneration payable by the employer to the Borrower.

4.4 Fast Credit may apply payments received from the Borrower first to legal and recovery costs, then to other costs and charges, interest, and finally the principal loan amount.

4.5 Where the Borrower liquidates the loan before the end of the agreed tenor, an interest rate of 3.5% will apply to the early liquidation, irrespective of the original loan tenor.

4.6 In the event of the Borrower's death or permanent disability, liability for any outstanding amount will be limited to the Borrower's terminal benefits, gratuity, or any other disclosed or undisclosed entitlement from the Borrower's employer, if any.

4.7 A management fee of 1% will be capitalised on the total loan amount, irrespective of the loan tenor or amount.

5. Costs and Charges

If Fast Credit reasonably engages lawyers, debt-recovery agents, or other professional advisers because the Borrower has breached this Agreement, the Borrower will be responsible for the reasonable costs incurred by Fast Credit, subject to applicable law.

6. Breach and Default

6.1 The Borrower will be in default if the Borrower fails to pay any amount in full on its due date or otherwise breaches an obligation under this Agreement. Following a default, Fast Credit may terminate this Agreement and declare the outstanding balance, penalty interest, charges, and recoverable expenses immediately due and payable. Fast Credit may also recover any loss or damage arising from the breach, subject to applicable law.

6.2 Any penalty interest charged on an overdue amount following default by the Borrower or the Borrower's employer will not exceed the maximum rate permitted by applicable law or regulation.

6.3 The amount owed by the Borrower may be evidenced by a certificate signed by an authorised officer of Fast Credit stating how the amount was calculated. The certificate may be relied upon in legal proceedings as evidence of the amount due, unless the Borrower proves that it is incorrect.

6.4 Fast Credit may extend the loan tenor to accommodate a skipped payment, with or without prior notice to the Borrower, subject to applicable law.

7. Other Obligations

The Borrower declares that the Borrower has disclosed any outstanding loan obligation owed to another financial institution and undertakes not to obtain another payroll-deductible loan during the tenor of this loan without Fast Credit's prior written consent.

8. General

8.1 This Agreement constitutes the entire agreement between Fast Credit and the Borrower concerning the loan. It may be amended only in writing and signed or otherwise validly accepted by both parties.

8.2 During the tenor of this Agreement, the Borrower will keep the bank account designated for repayment open and active unless Fast Credit agrees otherwise in writing.

8.3 At the Borrower's request, Fast Credit will provide a statement showing deductions from the Borrower's salary, the outstanding balance, and any amount in arrears.

8.4 The Borrower authorises Fast Credit to access and verify information submitted with the application and to report the conduct of the Borrower's loan account to a licensed credit bureau, in each case subject to applicable law. Nothing in this clause limits a right or remedy that cannot lawfully be waived.

8.5 Disbursement is subject to the availability of funds and applicable Central Bank of Nigeria requirements.

8.6 Fast Credit may review and verify any document submitted by the Borrower and is not obliged to approve or grant the loan application.

Confirmation

I confirm that I have read, understood, and agreed to the terms and conditions above. I authorise my employer to deduct the agreed monthly instalments from my salary until the loan has been repaid in full and, if my employment ends before full repayment, to apply my terminal benefits toward any outstanding instalment, subject to applicable law.

Indemnity for Third-Party Payment Requests

Where I request payment into a third party's account, I agree to indemnify Fast Credit against any action, proceeding, claim, or demand arising directly from Fast Credit's compliance with that request, except to the extent caused by Fast Credit's negligence, wilful misconduct, or breach of applicable law.

I further agree to reimburse Fast Credit on demand for any reasonable payment, loss, or expense properly incurred as a direct consequence of complying with that request, subject to applicable law.

If the Borrower defaults on repayment, Fast Credit may pursue recovery through all lawful means available to it.