- “Act” – means the Usury Act, no 73 of 1968 and all regulations promulgated in terms of the Act;
- “Account” – means the outstanding balance on your credit facility.
- “Addresses” – means the residential, postal and email addresses, completed by you on the application form, where legal notices and any process of court may be served on you. You can only choose an address within the Republic of Namibia for residential and postal addresses. Your mail address will be used to forward inquiries, notices or other communication. If you change any of your addresses; you must inform us of this via e-mail at firstname.lastname@example.org. If you change your addresses, this change will only come into effect, latest, 10 (ten) days after we receive your notice.
- “Administration Fees” – means various fee debited to your account monthly for the routine administration of your account;
- “Agreement, Credit agreement, Credit transaction, Credit facility or Facility” – means the agreement between you and us for a credit facility comprising of your online application, credit granted to you in My / Dope Wallet and the electronic terms and conditions, all accepted by you electronically;
- “Credit Provider” or “us” or “we” or “our” – means Dope Innovation Trading, Reg. No. CC/2015/14611, who is the credit grantor and any person or entity to whom we transfer any of our rights or obligations under this agreement. Domicilium Address – Box 81276 Olympia, Windhoek, Namibia or email@example.com;
- “My / Dope Wallet” – means the online credit facility to which the credit granted to you will be transferred, which you can use to purchase any of the products and services available on dope.com.na.
- “Interest Rate” – means the rate at which interest is calculated on the balance of the Principal Debt as provided for in the Act and specified in the Agreement. Your interest rate is the rate which will be charged for the term selected by you at the time of each of your purchases and the rate will be subject to the maximum rate as referred to in section 2(2) of the Act. Your rate(s) per payment plan will never exceed the maximum permissible rate under the Act;
- “Principal Debt” – means the amount that is deferred and on which interest is calculated. It is made up of the total amount outstanding in terms of your credit facility, together with any other costs, including interest charges which are added when they become payable
- “Retailer” – means the participating retailer who offers goods or services online on our website (dope.com.na) to users and who has entered into an agreement with us.
- “You” or “Your” – means the person who enters into the Agreement with us.
2.1. We have contracted with selected participating Retailers to offer credit facilities to their customers or users on our websites who wish to purchase goods or services online.
2.2. By entering into an Agreement with us for a credit facility, you authorise and instruct us to effect payment to the particular Retailer whose products or services you are purchasing online, at all times subject to the terms of the Agreement up to the maximum facility available to you in terms of your Agreement with us.
Application and Agreement
3.1 You may apply for a credit facility with us.
3.2 We have no obligation to approve your application.
3.3. Your application is subject to our internal review and affordability approval criteria. We have the discretion to decline your application at any time and to determine the available credit limit, applying our internal criteria in accordance with the requirements of the Act.
3.4 Your application will be considered based on the information that you provide to us. All information must be truthful, accurate, correct and complete.
3.5 You must be at least eighteen years old and have the required legal capacity to enter into and be bound by the Agreement. We may require proof of your age and identification.
3.6 You will need to accept the terms and conditions electronically.
3.7 Once you credit application is approved, the maximum credit facility for which you qualify will be made available to you in “My / Dope Wallet” to purchase from participating Retailers. Please note that Retailers will not proceed to deliver goods until a positive bank account verification has been received. Please ensure that you provide correct banking details to us.
3.8 We will determine your maximum credit limit in accordance with the criteria specified in clause 3.3 above. We will increase this limit on your request or with your consent, provided that the requirements of the Act will be met.
Agreement with Retailer
4.1 We have entered into the Agreement with Retailers, you will be able to purchase goods and services from participating Retailers online using “My / Dope Wallet”.
4.2 The Retailers are third parties who wish to sell their products and / or services on our platform and although we have implement procedures to ensure the best quality of products and services, we are not responsible for the quality and / or standards of the products and services, thus you will have no recourse against us relating to the low quality and /or substandard quality of services.
Fees, Legal and Other charges
The following fees and charges may be charged provided that the amounts do not exceed the maximum amount allowed by the Act:
5.1.1 Subject to clause 5.1.2, we will charge interest at the rate as provided for in the Act.
5.1.2 A variable interest rate will apply. This means that the interest rate applicable to the Agreement will vary from time to time in accordance with the changes to the applicable reference rate. We will give notice of a change in the interest rate.
5.1.3 Interest shall be calculated and accrued daily on the outstanding facility balance, and be capitalised and billed monthly as at statement date.
5.2 Initial Fee – a once-off fee may be charged as provided for in the Act and specified in the application form;
5.3 Service Fee – a monthly fee will be charged at statement date for the routine administration costs of your account as specified in the pre-agreement;
5.4 Default Administration Charges, Legal and Collection costs – to cover all default administration and collections costs (including telephone/correspondence fees, collections commissions and costs and legal costs) if you default on your monthly instalment obligations in terms of the Agreement. For each month your account remains in arrears:
5.4.1 Default information will be submitted to the credit bureaux and this will impact your ability to obtain further credit;
5.4.2 We may suspend your account or close the account, and if we close the credit facility, you will be required to repay your account in full; and
5.4.3 Your account may be handed over to a debt collection agency for recovery of arrear amounts and you will be charged with these costs.
5.5 We may institute legal action against you (issue a summons), you will be liable for all legal costs, which will include but not be limited to:
5.5.1 Legal costs, which is all the cost incurred by the attorney briefed by us, including all costs of any advocate instructed by him, as on brief, and the cost of the professional services rendered by the attorney to us;
5.5.2 Collection charges and tracing fees;
5.5.3 Revenue stamps and sheriff fees;
5.5.4 Value-added tax (VAT) thereon, which we may incur in recovering or attempting to recover monies which you owe us; and
5.5.5 These costs will be debited to your credit facility.
5.6 Judgement may also be taken against you.
5.7 We will not try to collect any costs exceeding the costs provided for in the Act.
5.8 Each time you purchase on your account, an amount of 20 cents per purchase will be debited to your account in respect of stamp duty, in accordance with Schedule I of the Stamp Duties Act No 15 of 1993.
My / Dope Wallet
6.1 We will not send your statement to you. Your transactions history is available My Account/ Dope Wallet/ Transactions. You can access your transactions history at any time, provided the website is not down for periodic maintenance.
6.2 Your transactions history will show all transactions relating to your credit facility for the specific period, the outstanding balance and the minimum repayment owing.
6.3 Not reviewing your transaction history does not relieve you from your obligation to pay the amount outstanding by the specified due date.
6.4 In the event of any query or dispute regarding your transaction history or credit facility in general, please contact us firstname.lastname@example.org.
Payment, Settlement & Termination
7.1 You must pay the minimum instalment owing by the due date as shown on your My / Dope Wallet, by way of a monthly debit order to which you agreed at the time that you entered into the Agreement.
7.2 You can pre-pay any amount owing at any time.
7.3 By entering into the Agreement, you agree that we will debit your bank account (debit order) for your monthly instalments as well as any other amounts you have outstanding.
7.4 You agree that we may track your bank account and re-present the payment instruction when you have sufficient funds available in the event that you do not have sufficient funds available at the debit order date.
7.5 You may not cancel your debit order instruction until the full amount due in terms of the Agreement has been settled.
7.6 You may not close your bank account until the full amount due in terms of the Agreement has been settled, unless you provide us with details of another bank account from where we can raise the debit order.
7.7 You are entitled to settle the full outstanding balance without providing any notice to us. The settlement amount is defined as the unpaid balance of the principal debt plus the unpaid interest and all other fees and charges owing to us up until the settlement date.
7.8 You are entitled to terminate the Agreement at any time by settling your full outstanding balance owing to us.
8.1 If you:
8.1.1 default in the repayment of any instalment or other amount due in terms of the Agreement;
8.1.2 are in breach of any other term of the Agreement; or
8.1.3 are sequestrated; we will notify you of the breach in writing and we may suspend your credit facility. All amounts owing will become due and payable immediately. If you settle the default amount, your facility will be enacted again unless we have started legal proceedings against you for the full amount due and payable.
8.2 We may propose that the Agreement be referred to a debt counsellor, alternative dispute resolution agent, consumer court or ombud with jurisdiction, with the view of resolving any dispute or agreeing on a plan to bring payments up to date.
8.3 We will start legal proceedings only after 20 days since you have been in default, and only after 10 days have lapsed since we sent a default letter or notice to you to which you did not respond or which proposal you rejected (the 20 day and 10 day periods may run concurrently).
Consumer Credit Information
9.1 By entering into this Agreement you consent to and agree that we may conduct enquiries or share information about you and the application as follows:
9.2 Submit and receive information to and from third parties to verify information provided in your application;
9.3 Submit and receive information to and from third parties that we deem necessary to process and consider your application.
9.4 Submit information provided by you in your credit application and Agreement to the credit bureaux;
9.4.1 If required, enquire and verify information from the bureaux when assessing your credit application or credit worthiness at any time of the duration of the Agreement;
9.4.2 Obtain credit bureaux information which reflects your credit worthiness, such as a credit payment profile and a credit score;
9.4.3 Submit information on the conduct of your account and / or credit facility to the credit bureaux without prior notice;
9.5 You may contact the bureaux at any time to have your credit record disclosed and to request that any incorrect information be corrected. The name(s) and contact details of the credit bureaux will be made available to you upon request.
10.1 Terms and conditions are subject to change at any time without any permission required, at all times subject to the Act. We will inform you of any changes made as well as the date from when these changes are to apply.
12.3 The Agreement will be interpreted and governed by the laws of the Republic of Namibia.