Black Credit Card Application Form

    I hereby confirm my application for the above facility and certify that all information provided by me above and attached is correct and complete.

    I authorize Firmus to make any enquiry you consider necessary and appropriate for evaluating this application

    These Terms and Conditions apply to and regulate the provision of credit facilities advanced by FirmusCapital Limited (“Firmus”) to the Borrower herein:
    1. PAYMENT
    • All payments by the Borrower will be made by one of the following methods: Personal Cheque, Standing Order, or through an acceptable electronic channel. All other methods will be accepted with Firmus’s consent only.
    • The card holder is expected to settle a minimum of 25% of total usage plus accrued weekly fees before close of business on the 30th of every month.
    • The Borrower hereby agrees that non-payment of the amount owed by the due date shall render the Borrower in default and entitles Firmus to take steps to recover the outstanding loan amount in accordance with section 5 below.
    • In cases where the Borrower makes a direct transfer in advance of due date, Firmus reserves the right to destroy all cheques not retrieved within thirty days after the expiration of the loan on the Card.
    • Firmus or its duly authorized agents will utilize a dedicated Credit Agency for a credit report on the Borrower in considering any application for credit.
    • The Borrower authorizes Firmus to access any information available to Firmus as provided by the Credit Agency.
    • The Borrower also agrees that the Borrower’s details and the loan application decision may be registered with the Credit Agency.
    3. NOTICES
    • The Borrower agrees that Firmus` may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:
    • To the most recent physical address Firmus holds for the Borrower on file
    • By delivery to any email address provided during the application process.
    • By delivery of an SMS to any mobile telephone number the Borrower has provided to Firmus.

    Cost of credit card - N5,000
    Card Holder - N1,500 (Not compulsory)
    ATM withdrawal fee - N65.00 on non-issuer bank ATMs
    Annual Fee - N500
    Default Fee - 10% flat of outstanding usage
    Card maintenance fee - N50
    Interest Repayment - 5% flat Monthly

    Default in terms of this Agreement will occur if:
    • The Borrower fails to make any scheduled repayment in full on or before the payment date in accordance with the monthly repayment plan given to the Borrower;
    • Any representation, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or
    • The Borrower does or omits to do anything which may prejudice Firmus’s rights in terms of this Agreement or causes SpartaCapital to suffer any loss or damage.
    In the event of any default by the Borrower subject to the clauses above –
    • Firmus shall apply a 10% default charge daily on overdue principal
    • Firmus reserves the right to assign its right, title and interest under the Agreement to an external Collections Agency who will take all reasonable steps to collect the outstanding loan amount.
    • Firmus also reserves the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.
    • The Borrower shall be responsible for all legal costs and expenses incurred by Firmus in attempting to obtain repayment of any outstanding loan balance owed by the Borrower. Interest on any amount which becomes due and payable shall be charged.

    6. GENERAL
    • This Agreement represents the entire understanding between Firmus and the Borrower. No amendment shall be made unless same is agreed in writing by the parties.
    • The Borrower agrees and undertakes that for the period of this Agreement, the Borrower will not close the Borrower’s specified bank account.
    • This Agreement shall be governed by the laws of the Federal Republic of Nigeria and shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria.
    • If Firmus does not strictly enforce its rights under this Agreement (including its right to insist on the repayment of all sums due on the Repayment Due Date) or grant the Borrower an indulgence, Firmus will not be deemed to have lost those rights and will not be prevented from insisting upon its strict rights at a later date.
    • Firmus reserves the right to transfer or assign its rights and obligations under this Agreement (including its obligation to lend money to the Borrower or the amount owed under this Agreement) to another person. Firmus will only inform the Borrower if such a transfer causes the arrangements for the administration of this Agreement to change.
    • The Borrower authorizes and consents to all lawful access, use or disclosure of the Borrower’s particulars in the application by Firmus which may include but shall not be limited to purposes necessary to promote or sustain the business of Firmus; and the Borrower waives any claims the Borrower may have against SpartaCapital arising from any such access, use or disclosure.
    • Applicants/Borrowers that submit fake or fraudulent documentation shall be reported to appropriate regulatory bodies including, but not limited to the Nigerian Police, for prosecution and/or any other penalties as the regulatory body deems fit.
    • The Lender reserves the right to review, verify and screen all details, including but not limited to the loan amount applied for by the Borrower and the Lender is not bound to grant the exact loan amount applied for by the Borrower.

    and hereby irrevocably state that the cheque would not be canceled without recourse to Firmus and if such happens and I do not contact Firmus within 24hours, SpartaCapital reserves the right to take legal action against me.

    I confirm that I have read, understood and agreed to the above terms and conditions. I also authorize Firmus to present the cheques issued by me (in favour of FirmusCapital Limited) for the repayment of the Loan as and when due until the Loan has been fully paid and if, for any reason whatsoever, my account is not funded at the time of presentation, I shall be criminally liable under the Dishonored Cheques (Offences) Act, CAP D1, LFN 2004.