Fauri Cash LOAN AGREEMENT

This Loan Agreement ("Agreement") is made and entered into on the Approval Date, as defined below and shall be effective from the same date.

BY AND BETWEEN

PAKISNOVA MICROFINANCE COMPANY (PRIVATE) LIMITED, a limited liability company established and managed under the laws of the Islamic Republic of Pakistan, having its registered office at Address; Office # 410, Fifth, Floor, Gulberg Business Centre, Civic Centre, Gulberg Green, Islamabad (hereinafter referred to as the "PAKISNOVA"), which expression shall, where the context so permits, deems to include its successors-in-interest, permitted assigns and its authorized representatives;

AND

The undersigned (hereinafter referred to as the "Borrower"), which expression shall, where the context so permits, deems to include his/her legal heirs, successors-in-interests, permitted assigns and authorized representatives).

The terms ‘PAKISNOVA’ and ‘Borrower’ shall hereinafter individually be referred to as “Party” and collectively as “Parties”, as the context may require.

RECITALS

WHEREAS the PAKISNOVA owns and operates a digital loan lending mobile Application (“Mobile Application”) under the brand name and style of “FAURI CASH”, engaged in the business of providing nano loans digitally to the individuals and is licensed to execute the lending services in Pakistan.

WHEREAS the Borrower is a natural person, desirous of availing lending services through the Mobile Application by completing approval procedure of borrowing the loan;

WHEREAS upon Borrower’s request and based on representations, guarantees, warranties, covenants and undertakings contained herein, PAKISNOVA has agreed to make available, and the Borrower has agreed to avail, lending services as per the terms and conditions stipulated in this Agreement;

WHEREAS any and all annexures attached hereto shall be read and construed as an integral part of this Agreement.

NOW THEREFORE, in consideration of the mutual covenants herein contained, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the Parties agree as follows:

ARTICLE 1- DEFINITIONS AND INTERPRETATIONS

Unless expressly stated otherwise, all terms defined in this Agreement have the following meanings:

1.1 “Approval Date” is the date on which Borrower’s Loan Request is approved after completing the approval procedure through Mobile Application;

1.2 "Borrower Account" is the Borrower's personal account based on his personal information provided by the Borrower which is opened and provided by the PAKISNOVA on the Mobile Application where the Borrower has, (i) submitted a loan application and can submit a new loan application after repayment of the previous loan; (ii) uploaded the required documents and provide other required information related to filing a Loan Request; and (iii) understood the terms and schedule for repayment of loans that are required and the amount of outstanding loan payments;

1.3 “CIB” means Credit Information Bureau

1.4 “Cooling off Period” means a minimum period of 24 hours or such higher period determine by the Board of Directors from disbursement of the loan during which the borrower has the right to withdraw from the loan agreement and repay the principal amount to the digital lender without any markup/interest.

1.5 “Loan” is defined as collectively the Loan Amount and Interest and all the respected dues.

1.6 “Loan Amount” is the amount request by borrower for availing the lending services.

1.7 "Loan Request" is the loan application, made by potential borrowers to the PAKISNOVA based on this Agreement through the Mobile Application;

1.8 "Loan Period" is a time frame agreed between the Borrower and the PAKISNOVA through the Mobile Application for the repayment of the Loan Amount as defined under Article 2 of this Agreement, however, in the case of nano-lending the loan period shall not exceed 90 days;

1.9 “Personal Data" refers to information regarding the Borrower's identity as an individual, whereabouts, and financial circumstances that is essential for loan disbursement and loan recovery, excluding sensitive data. PAKISNOVA is committed to exercising due diligence in protecting and maintaining the confidentiality of such data. PAKISNOVA operates in good faith and adheres to best practices in its dealings with the data protection and confidentiality. However, in the event of any breach, PAKISNOVA shall be deemed indemnified from any liability.

1.10 "Related Parties" are directors, commissioners, employees, management, shareholders, and affiliates of the PAKISNOVA;

1.11 "Mark up" are the charges charged by the PAKISNOVA from Borrower for the as interest on loan and to be calculated as the percentage of the Loan Amount for the entire Loan Period;

1.12 "Mobile Application" means a digital platform (a web portal and / or mobile version of the web portal) created, owned and operated by the PAKISNOVA for the provision of digital loan lending service.

1.13 "Penalty" means an additional penalty applicable to the repayment of a Loan after the Loan Maturity Date.

ARTICLE 2- LOAN

2.1 The PAKISNOVA through the Mobile Application hereby agrees to provide a loan amount of PKR. _{{loan amount}}_ to the Borrower. The Borrower agrees to repay the PAKISNOVA the Loan Amount along with all applicable dues, within the load period at a mark up rate of __{{interest rate}}__% per day, calculated from the date of disbursement until the expiry of the loan period.

2.2 A penalty of fine ___{{penalty}}____ per day shall apply for payments made after due date.

2.3 The mode of payment and repayment of all transactions between PAKISNOVA and the Borrower regarding the disbursement and recovery of loans shall be conducted exclusively through bank accounts of or branchless banking accounts with the account holder PAKISNOVA and Borrower itself. These include IBAN/E-Wallet mobile account numbers verified via the 1-Link title fetch service or IBAN/E-Wallet mobile account numbers paired with CNIC, as applicable.

ARTICLE 3- PURPOSE OF USE OF LOAN FUNDS

3.1 The Loan shall be utilized in full by the Borrower as long as it does not conflict with the laws and regulations in force in the territory of the Islamic Republic of Pakistan, however the Borrower hereby undertakes that the purpose of the Loan is not in contravention of the international anti-money laundering (“AML”) laws and the Loan shall not be used for financing of terrorism or any activity which is prohibited directly or indirectly in any manner whatsoever under the applicable laws of Pakistan.

3.2 The Parties hereby agree that the PAKISNOVA or Related Parties shall not be in anyway whatsoever be responsible for any or all the matters relating to the utilization of Loan by the Borrower.

ARTICLE 4- LOAN REPAYMENT

4.1 The Borrower is obligated to repay the Loan in not later than the Due Date by making full repayment of the entire Loan thereto. Provided, in the event, the Borrower fails to repay the Loan within the intimated Loan Period, the PAKISNOVA may recover the same through initiating proceedings for recovery of the aggregated Repayable Amount in the court of law.

4.2 The Borrower unconditionally and irrevocably authorizes the PAKISNOVA to receive, set off and adjust any payment due to the PAKISNOVA with respect to the payable Loan Amount from its personal bank account. The right and permission shall subsist during the course of this Agreement and may also be exercised by the PAKISNOVA prior to the Due Date. The adjustment after automatic bank deduction/transfer, set off etc. shall be reflected in the Borrower’s Account on the Mobile Application.

4.3 Repayments by the Borrower are credited in the following order;

4.3.1 In accordance with the provisions of the cooling-off period (i.e., Clause 1.4), any recovering costs incurred if the loan is repaid within 24 hours or such higher period determined by the Board of Directors,

4.3.2 penalty,

4.3.3 mark up,

4.3.4 loan amount

ARTICLE 5- EARLY AND ACCELERATED REPAYMENT

5.1 The Borrower may repay the Loan at any time in whole or in part before the end of the Loan Period ("Early Repayment"), by expressly informing the PAKISNOVA by means of an early repayment request, which must be sent to the e-mail address hello-pk@fauricash.com.

5.2 The Early Repayment request sent by the Borrower to the PAKISNOVA shall specify the following details:

5.2.1 Full Name

5.2.2 CNIC number,

5.2.3 Personal bank account, or

5.2.4 Similar official identity document of the Borrower;

5.2.5 Loan Agreement number,

5.2.6 Notification of the withdrawal of Loan agreement,

5.2.7 Date of repayment of the Loan;

5.2.8 Place and date of the request;

5.2.9 Signature of the Borrower;

5.3 In the event of making the request for early repayment of the Loan, the Borrower must return to the PAKISNOVA, within three (03) days following the sending of the Request for early repayment, the outstanding loan and any additional expenses that may be generated, calculated proportionally to the term of the Agreement after getting the formal response from the PAKISNOVA.

5.4 The Borrower acknowledges that the PAKISNOVA has the authority to receive accelerated repayments in the event, the PAKISNOVA discovers or has a reason to believe that the Borrower is in default/breach of conditions of this Agreement.

ARTICLE 6- RIGHTS AND OBLIGATIONS OF THE PARTIES

6.1 The Borrower agrees and acknowledges to:

6.1.1 Send a Loan Request for Loan through the Mobile Application at any time;

6.1.2 PAKISNOVA’s discretion to refuse or cancel the Loan Request during time of loan application;

6.1.3 Receive any/ all information relevant to the loan business operations, from the PAKISNOVA related to PAKISNOVA

6.1.4 Borrower relationship through the Mobile Application.

6.2 The Borrower warrants that:

6.2.1 That he/she is of legal age or above with full capacity to act;

6.2.2 he/she has never been adjudged as insolvent;

6.2.3 To have the financial capacity to repay the Loan applied for;

6.2.4 To be of full mental, intellectual and cognitive capacity at the time of applying for the loan;

6.2.5 To provide correct, true and valid information regarding and the registration documents valid;

6.2.6 To have an open and active/non-dormant bank account in Islamic Republic of Pakistan.

6.2.7 To repay the Loan and any financial obligations related to the Loan in a timely manner under the provisions of this Agreement;

6.2.8 To settle other financial obligations related to the Loan and applicable dues in the events of failure by the Borrower to comply with the agreement or to make timely repayment.;

6.2.9 to provide all information as and when required by the PAKISNOVA during the Loan Period and comply with the terms and conditions and other policies ancillary thereto Mobile Application at all times during the Loan Period;

6.2.10 to not transfer all or part of the rights, benefits and obligations under this Agreement to a third party;

6.2.11 to comply with all laws and regulations, regulations, policies, instructions or instructions from the competent government or regulatory body; and

6.2.12 to adhere to the obligations of the Borrower with regards to the change of data.

6.3 The Borrower is obliged to immediately notify the PAKISNOVA with respect to any change in the data provided under this Agreement (including but not limited to CNIC details, permanent and current addresses, employment status, traveling abroad, personal bank account, income / wages / salary receipts, etc.). In the event, the PAKISNOVA incurs any costs as a result of the Borrower’s failure to notify the PAKISNOVA or of the modification of such data, the Borrower expressly agrees that such costs shall be paid by Borrower.

6.4 The Borrower undertakes, upon request by the PAKISNOVA, to disclose his/her income and financial circumstances.

6.5 The Borrower also undertakes to inform the PAKISNOVA immediately of any deterioration in his/her financial situation, especially if such deterioration results from unemployment.

6.6 The Borrower covenants and agrees that he/she shall not in any way publicly disparage, call into disrepute, or otherwise defame or slander the PAKISNOVA and Related Parties or its subsidiaries, affiliates, successors, assigns, officers, directors (including any current director of the PAKISNOVA), employees, shareholders, agents, attorneys or representatives, contractors or any of its offered services, in any manner that would directly or indirectly damage the business or reputation of the PAKISNOVA, its offered services or its subsidiaries, affiliates, successors, assignees, officers, former officers, directors, or former directors, employees, shareholders, agents, attorneys or representatives.

6.7 The Parties agree that the fees and charges with respect to the credit intermediation process shall be paid directly by the PAKISNOVA.

6.8 The Parties agree that the PAKISNOVA operating through the Mobile Application has the right:

6.8.1 to decide whether to accept the Borrower’s loan application or not at its sole discretion, in addition to deciding the Loan Period, and the Loan Amount, the PAKISNOVA may also at its discretion check and analyze their creditworthiness through CIB. In the event, the Borrower meets PAKISNOVA’s eligibility criteria and passes the verification process, the Loan may be approved.

6.8.2 to receive Loan along with all applicable dues such as mark up from the Borrower in accordance with the provisions of this Agreement;

6.8.3 to disclose personal information of the Borrower and other related information to agencies for the purposes of initiating recovery process or use other methods as stipulated in the Agreement in the event, the Borrower does not repay the Loan in full on the Due Date;

6.8.4 To entrust a third party to recover the Loan to ensure the payment in strict accordance with the provisions of the Agreement; and

6.8.5 To transfer or mortgage the rights under this Agreement to third parties for the debt purchase or sale.

ARTICLE 7- DISCLOSE CONSENT AND DATA PROTECTION

7.1 The Borrower expressly agrees to provide complete access to process and use personal data as provided in terms and conditions, for the purposes of implementing the terms of the Agreement.

7.2 The Borrower expressly authorizes the PAKISNOVA to use and transfer his/her data to relevant third parties in order to carry out the necessary procedures and check in relation to his/her loan application, and to consult his/her data with a credit bureau as and when required.

7.3 The Borrower acknowledges that the PAKISNOVA may at its discretion disclose information of personal data of the Borrower to relevant third Parties for the purposes of implementing the terms of this Agreement.

7.4 The PAKISNOVA shall at all times keep information obtained from the Borrower safe and shall comply with the data protection laws of Pakistan.

ARTICLE 8- TRACKING AND COOKIES

8.1 “Cookies” are small text files transferred by a web server to users hard drive and thereafter stored on their computer. The types of information a cookie collects include the date and time users visited, their browsing history, preferences, and username.

8.2 The company may use cookies to manage our users sessions and to store preferences tracking information and language selection. Cookies may use cookies to manage our users sessions and to store preferences tracking information and language selection. Cookies may be used whether customers register with us or not. That third-party websites and advertisers or internet advertising companies working on our behalf, sometimes use technology to send or serve data that appear on our Application. They automatically receive your IP address when that happens. They may also use cookies, JavaScript, web beacons, and other technologies to measure the effectiveness of their advertisements and to personalize advertising content. We cannot control or access cookies used by the third party service providers. This Privacy Policy covers only Cookies used by us, and not any Cookies used by third-parties. Therefore, we are not responsible for the information or content they may contain, nor are we responsible for the privacy practices employed therein. Please contact them directly for more information about their privacy policies. This Privacy Policy applies solely to information collected by us through the Application.

ARTICLE 9- RELATED TAXES AND OTHER CHARGES

9.1 The Parties agree that any taxes which have not been regulated under this Agreement shall be borne by each Party in accordance with the prevailing laws and regulations of Pakistan.

ARTICLE 10- DEFAULT AND CONSEQUENCES OF DEFAULT EVENTS

10.1 Each of the following events constitutes as an event of default by the Borrower (“Default”), regardless of the reason for the occurrence, and whether the event was intentional or unintentional, with all legal consequences for the Borrower:

10.1.1 Any information, personal data, statements, guarantees, or documents received from the Borrower is untrue, inaccurate or incomplete;

10.1.2 The Borrower uses the Loan deviating from the purposes and objectives of the Borrower as referred under Article 3 of this Agreement;

10.1.3 the Borrower is in a state of over-indebtedness, bankruptcy, obligation to postpone debt payments (PKPU), civil, tax or labor disputes with third parties, or is involved or is in a criminal case or under serious disciplinary proceedings or is subject to sanctions or penalties from any government institution or is subject to any payment obligations through a court decision;

10.1.4 the Borrower fails to pay the Loan and other financial obligations on the Due Date based on this Agreement;

10.1.5 the Borrower violates one or more of the provisions of this Agreement.

10.2 In the event of a Default or the Borrower fails to make the repayment within 14 (fourteen) days of the expiry of Loan Period. The Borrower grants the PAKISNOVA rights to take action on its own discretion through its attorney and representative, without the need for notification to or any approval from the Borrower, and without limiting the rights of the PAKISNOVA:

10.2.1 Accelerate payment obligations and repayment of any or all of the Borrower's financial obligations based on the Agreement;

10.2.2 Sending legal notices and court summons from the attorney or attorney appointed by the PAKISNOVA to the Borrower;

10.2.3 Initiate and submit a civil suit to the competent court against the Borrower;

10.2.4 Reporting the Borrower to relevant government institutions, including but not limited to making applicable reports to the police;

10.2.5 Take such other actions and make such other legal efforts to protect and implement the rights of the PAKISNOVA under this Agreement.

10.3 All costs and taxes arising as a result of the formalization, modification if applicable, as well as for the breach of the obligations arising from the Agreement shall be borne by the Borrower (including lawyer’s and solicitor’s fees for legal claims).

10.4 In the event, the Borrower does not repay the Loan within the stipulated Loan Period, the Loan shall be handled by the PAKISNOVA’s debt collections department. The PAKISNOVA shall inform the Borrower through email and / or SMS, as well as by making calls to the telephones that the Borrower would have made available to the PAKISNOVA at the time of contracting the Loan or in the event of not being able to contact by these means, through any others lawful means in accordance with fair market practices that it deems appropriate in order to correctly manage the collection. The Borrower under this Agreement expressly grants permission to the PAKISNOVA to handle Loan collection as stipulated under this Agreement and that such communication or visitation to the residential/office address for the collection from the Borrower by the PAKISNOVA or its agents.

ARTICLE 11- DETERMINATION, TERMINATION, CANCELATION

11.1 Postponing The Performance Of Obligations: The Parties may postpone performance of obligations which was expected to be performed under a certain time limit set by the other Party, The Parties under this Agreement are permitted to postpone the performance of obligations under the following circumstances:

11.1.1 A Party has detected unusual signs in the course of the cooperation which could result in damage to the Party;

11.1.2 A Party has discovered that the other Party has breached the terms of the Agreement or fails to remedy the breach within the time limit set by the Party affected.

11.2 This Agreement shall be terminated upon the occurrence of following events:

11.2.1 The Parties fulfill their obligations in accordance with the Agreement;

11.2.2 Any other events as prescribed by applicable laws.

11.3 Upon termination of Agreement performance, the Parties shall not have to continue performing their duties, except for agreements on penalties, compensation and agreement on settlement of disputes. Provided that, the PAKISNOVA will reserve the right to demand the Borrower to pay the Loan in full and the Borrower regardless of the termination of this Agreement shall be obligated to repay the Loan before or on the Due Date.

11.4 Termination Of Agreement Ahead Of Time Due To Breach: If the Borrower violates any provision of this Agreement or provides false information to the PAKISNOVA at the Mobile Application, the PAKISNOVA has the right to unilaterally terminate this Agreement and recover the debt before the Due Date at its sole discretion. The termination will take effect from the date the PAKISNOVA through the Mobile Application notified termination before expiry. Provided, if the Borrower does not repay the Loan, the Loan will be converted to an overdue debt and be subject to penalty as stipulated under the Agreement.

ARTICLE 12- GOVERNING LAW & JURISDICTION

12.1 This Agreement shall be governed by the laws of Islamic Republic of Pakistan. Any disputes, controversies, disagreements, differences, or questions arising between the Parties, including the interpretation of rights and liabilities of either Party, shall be resolved through mediation, and if mediation fails then parties would resort to arbitration in accordance with the Arbitration Act, 1940 as amended from time to time. The arbitration shall be conducted by a sole arbitrator, to be mutually decided between the Parties, and the seat of arbitration shall be in Islamabad, Pakistan, or any other city in Pakistan proposed by PAKISNOVA deemed appropriate. The decision of the arbitrator shall be final and binding on the Parties involved.

ARTICLE 13- FORCE MAJEURE

13.1 Neither Party shall be held liable or responsible to the other party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any obligation under the Agreement, as the case may be, when such failure or delay is caused by or results from causes beyond the reasonable control of the affected party, including but not limited to fire, floods, embargoes, war, acts of war (whether war is declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority.

13.2 Nothing contained in this provision shall relieve the Borrower from its payment obligations stipulated under this Agreement.

ARTICLE 14- GENERAL PROVISIONS

14.1 In consideration of the PAKISNOVA providing finance to the Borrower, the Borrower hereby agrees to indemnify and hold the PAKISNOVA, its officers, directors, employees, and agents harmless from and against any and all claims, demands, actions, suits, proceedings, losses, damages, liabilities, costs, and expenses (including but not limited to attorneys' fees, legal costs, and arbitration fees) arising out of or in connection with the following:

14.1.1 Any breach of the terms and conditions of this agreement by the Borrower.

14.1.2 Any misrepresentation or false statement made by the Borrower to the PAKISNOVA.

14.1.3 Any default or failure by the Borrower to perform its obligations under this agreement.

14.1.4 Any litigation, arbitration, or dispute resolution process initiated by the PAKISNOVA to enforce its rights or remedies under this agreement.

14.1.5 Any third-party claims or actions related to the Borrower's use of the funds provided by the PAKISNOVA.

14.2 The Borrower agrees to reimburse the PAKISNOVA promptly for all such costs, expenses, and fees upon the PAKISNOVA's request. The PAKISNOVA shall have the right to set off any such amounts against any sums due or to become due to the Borrower under this Agreement or any other agreement between the Borrower and the PAKISNOVA. This indemnification shall survive the termination or expiration of this Agreement and shall remain in full force and effect until all obligations of the Borrower to the PAKISNOVA have been fully discharged.

14.3 This Agreement is implemented through electronic means, and the Agreement is signed by electronic signature which is effective, valid and binding on the Parties.

14.4 This Agreement shall enter into force on the Approval Date and shall remain binding upon the Parties until the Borrower fulfilled all repayment obligations.

14.5 All amendments and supplements of the Agreement (if any) must be made in writing signed by the Parties.

14.6 All terms and part of the terms of this Agreement will be in full force and effect independent of any other provisions, and if at any time any of these terms is invalid or unenforceable, validity and enforceability of the remaining provisions of this Agreement shall not be affected in any way.

IN WITNESS WHEREOF, each Party hereto has duly executed or has caused this Agreement to be duly executed in its name and/or on its behalf by the officer or representative duly authorized, on the Approval Date. And the Approval Date is recorded and stored by the Company through the Mobile Application in the system for the purpose of proof as admissible evidence in the competent courts or to government authorities in connection with the Borrower's obligation under this Agreement.

Annexure-A

Schedule of Charges

Full Name:{{name}}	CNIC No. {{national-Id}}
Phone Number:{{mobile}}	User ID:{{customerId}}
Annual Percentage Rate:{{totalYearRate}}	_1_ days of Cooling Off Period to withdraw from the loan agreement and repay the loan principal amount without any recovering cost except applicable Verisys(Rs),CIB (Rs.)cost and Fund Transfer cost and other necessary costs incurred.
Loan Number:{{paymentId}}	Loan Amount approved(Rs.):{{applyAmount}}
mark up	mark up(Rs.):{{totalMarkup}}
Amount being disbursed:{{amount}}	Late Payment/Additional interest Per day charges in case of late payment:{{penalty Interest}}
Amount to be repaid in lump sum] or in installments(Rs.)：{{repayAmountPeriods}}
Loan Period: {{totalLimitDays}}
Payment Plan：{{totalRepayAmount}} {{repayDate}}
Tax: {{tax}}
Complaint Contact Information
Name	Muhammad Javaid Arif
Designation	Customer service supervisor
Address	Office # 410, Fifth, Floor, Gulberg Business Centre, Civic Centre, Gulberg Green, lslamabad
Phone number	+92 318 099 1917
Email address	hello-pk@fauricash.com