1. Appointment — MyLoan Limited appoints you as a community loan origination agent on a non-exclusive basis. This appointment is personal and may not be transferred.
2. Nature of Relationship — You are an independent contractor, not an employee of MyLoan. You bear no financial risk related to any loan originated through you.
3. Agent Obligations — You shall: accurately capture client information; submit only genuine applications; never charge clients any fees; maintain client confidentiality; and comply with all applicable laws.
4. What You Must Not Do — You must not: make credit decisions; promise loan approval; handle disbursement funds; collect loan repayments; or misrepresent your role.
5. Credit Decisions — All lending decisions are made solely by MyLoan. You acknowledge that submission of an application does not guarantee approval.
6. Confidentiality — Client personal data collected must be treated as strictly confidential and used only for the purpose of loan application submission.
7. Termination — Either party may terminate this agreement with 7 days written notice. MyLoan reserves the right to immediately terminate for breach of the Code of Conduct.
8. Governing Law — This agreement is governed by the laws of the Kingdom of Lesotho.
