Terms & Condition

Effective Date: [January 2025]

Welcome to Innovative Loan Application (“we,” “us,” or “our”). By accessing or using our software-as-a-service platform (the “Service”), you (“you” or “User”) agree to be bound by these Terms and Conditions.

If you do not agree to these Terms, please do not use our Service.

1. Eligibility

You must be a registered bank, financial institution, cooperative society, or authorized personnel to use the Service. By using the Service, you represent and warrant that:

  • You have legal authority to enter into this agreement.

  • Your organization complies with all applicable laws and regulations in Nigeria related to loan management and data handling.

2. License and Access

  1. We grant you a non-exclusive, non-transferable, revocable license to access and use the Service solely for your internal business purposes.

  2. You may not:

    • Copy, modify, or distribute the Service.

    • Attempt to reverse engineer or bypass security measures.

    • Use the Service for any unlawful purpose.

3. User Accounts

  • You are responsible for maintaining the confidentiality of your login credentials.

  • You agree to notify us immediately if your account is compromised.

  • All actions taken through your account are your responsibility.

4. Data Privacy & Security

  • We collect and process data according to our Privacy Policy.

  • You are responsible for ensuring that your use of the Service complies with applicable data protection laws.

  • All sensitive data transmitted through the Service is encrypted and securely stored.

5. Service Use & Obligations

  • You agree to use the Service in accordance with all applicable laws, regulations, and guidelines.

  • You acknowledge that Innovative Loan Application does not provide financial advice or guarantee loan repayment.

  • Users must ensure accurate input of data; we are not liable for errors caused by incorrect or incomplete data entry.

6. Payment & Billing

  • Use of the Service may require subscription or license fees, as outlined in your pricing plan.

  • Payments are due according to the invoicing schedule. Late payments may result in suspension or termination of your account.

7. Intellectual Property

  • All intellectual property rights in the Service, including software, logos, trademarks, and documentation, remain with Innovative Loan Application.

  • You may not use our intellectual property for commercial purposes outside the scope of this agreement.

8. Limitation of Liability

  • Innovative Loan Application is provided “as is” and “as available.”

  • We are not liable for any indirect, incidental, or consequential damages arising from the use of the Service.

  • Liability for any claim related to the Service is limited to the total amount paid by you in the previous 12 months.

9. Indemnification

You agree to indemnify and hold harmless Innovative Loan Application, its affiliates, and employees from any claims, damages, or losses arising from:

  • Your misuse of the Service

  • Violation of these Terms

  • Violation of applicable laws or third-party rights

10. Termination

  • We may suspend or terminate your account for violation of these Terms.

  • You may terminate your subscription at any time according to our cancellation policy.

  • Upon termination, your access to the Service and stored data may be removed.

11. Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria. Any dispute arising will be resolved under Nigerian courts and applicable regulatory frameworks.

12. Changes to Terms

  • We may update these Terms periodically.

  • Continued use of the Service after changes indicates acceptance of the revised Terms.

13. Contact Us

For questions regarding these Terms or the Service, please contact:
Email: info@innovative.ng

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By using Innovative Loan Application, you acknowledge that you have read, understood, and agree to these Terms and Conditions.