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FinYou Terms and Conditions

Finance and Settlement process

  • 1.Apply for your finance online or offline (application form) after selecting products or services of interest.
  • 2.Your application is processed by a Registered Credit Provider.
  • 3.You are notified regarding your application status.
  • 4.The payment is allocated and processed by an approved payment bureau/FinYou management account.
  • 5.Your suppliers are notified regarding the status and generate compulsory invoices to FinYou.
  • 6.FinYou settles the supplier accounts on your behalf guaranteeing payment to suppliers.
  • 7.You have the option to request a full report of your application process and status from FinYou.
  • 8.Terms And Conditions
  • 8.1.Should the Supplier or Service Provider be unable to deliver the product or service due to any unforeseen circumstances and as a result of failure to reasonably resolve the delivery or provision of such product or service, the Product Loan Amount as approved by the Credit Provider may, upon request, be paid directly in your own bank account. However this will be subject to an administration fee from FinYou as determined from time to time which will be deducted from the payment.
  • 8.2.If the Supplier or Service Provider is in alleged breach of any provisions of the CPA then you may request FinYou, this if the Product Loan Amount was approved by the Credit Provider but not yet paid out to the Supplier, to hold back the pay-out of the Product Loan Amount as stakeholder until the dispute is resolved and FinYou receives written advise signed by the Supplier or Service Provider and you confirming that the dispute has been resolved and the terms of such resolve or a court order to that effect.
  • 9.You confirm that notwithstanding the content of paragraphs 8.1 and 8.2 above that you will remain liable to repay the Total Loan Amount to the Credit Provider once the Total Loan Amount has been approved and the Product Loan Amount paid out to FinYou on your behalf.
  • 10.The Applicant/client hereby undertake to comply with all road transport laws, including the Road Traffic Act and likewise acknowledge that it is a material obligation of this contract to:
    • Keep the vechicle (includes but not limited to; car/scooter/motorbike/any motorised vechicle) in a roadworthy condition.
    • Ensure that accidents are not caused by smooth tyres, faulty brakes and defective lights.
    • Comply with vehicle security requirements by ensuring that the appropriate tracking and security devices are fitted, keeping the vechicle locked, windows and other openings closed at all reasonable times.
    • Keep the required security devices activated and all keys safe.
    • To avoid vehicle damage caused by drunk driving accidents.
    • Ensure the authorized use of the vechicle only by licensed drivers.
    • Disclose all such material facts that are detrimental to the rights of the Borrower.
    • Adequate Insurance cover of the vehicle is compulsory 
  • 11.An additional charge of 5% is added to all financed items as an administration cost.