Company Name: Ricebro Technology Uganda Limited
Brand Name: FastPay
Effective Date: 05/09/2025
Governing Law: Data Protection and Privacy Act, 2019 (Uganda)

Introduction

These Terms and Conditions ("Terms") govern the relationship between Ricebro Technology Uganda Limited, trading under the brand name FastPay ("the Company"), and any customer ("the Customer") who purchases a mobile device or other products from the Company on an installment basis. By signing an installment agreement with FastPay, the Customer confirms that they have read, understood, and agreed to these Terms. These Terms are legally binding and enforceable under Ugandan law.

Eligibility

To qualify for financing under FastPay, the Customer must be a legal resident of Uganda. The Customer must present a valid National ID or Passport, proof of residence, and any other supporting documentation requested by the Company. The Company reserves the right to decline financing without giving reasons if the Customer fails to meet eligibility requirements or fails the Company’s credit assessment.

. Financing and Repayment

The Customer agrees to pay a specified deposit before receiving the mobile device and to pay the balance in agreed installments as outlined in the repayment schedule. Repayments shall be made through the channels approved by the Company, including bank deposits, mobile money, or any other authorized platform. All payments must be made on or before the due date. Late or missed payments shall attract penalties as described below.

If you contact our technical support, we may process other data required to help you with any queries or support matters, such as login and password administrator pnael, FTP access, data collected in crash logs that are gathered by your CMS or the technical parameters of the server you use.

Interest and Fees

The financing provided under these Terms may include interest and processing fees as agreed between the Customer and the Company. The applicable interest rate and fees will be clearly stated in the repayment schedule provided at the time of purchase. The Customer acknowledges and agrees that failure to repay as agreed will result in additional penalties, repossession costs, and reporting to Credit Reference Bureaus.

Customer Obligations

The Customer agrees to provide accurate and truthful information during the application process and understands that false or misleading information may result in cancellation of the financing and repossession of the device. The Customer must use the financed device responsibly and may not sell, pledge, or transfer ownership of the device until all installments have been fully paid. The Customer agrees to cooperate with the Company in case of repossession due to default.

Default and Repossession

A Customer will be deemed in default if they fail to make a scheduled payment within the grace period specified in their agreement. In the event of default, the Company reserves the right to suspend service, impose penalty fees, and repossess the device without further notice. The Company may also initiate legal recovery proceedings and report the default to Credit Reference Bureaus in accordance with the law. The Customer shall remain liable for any outstanding balance after repossession and recovery costs.

Customer Rights

As a customer, you have several rights under the Data Protection and Privacy Act, 2019. You have the right to request access to the personal data we hold about you and to request correction of inaccurate or incomplete information. You also have the right to withdraw consent for receiving marketing communications. In certain cases, you may object to the processing of your personal data. If you believe your data rights have been violated, you may file a complaint with the National Information Technology Authority of Uganda (NITA-U), which is the regulatory body responsible for data protection.

Credit Reporting

The Customer acknowledges that their repayment history will be shared with licensed Credit Reference Bureaus (CRBs) in Uganda as required by law. A good repayment history will improve the Customer’s credit profile, while default or late payments may negatively affect their ability to obtain credit in the future.

Termination of Agreement

The Company reserves the right to terminate this agreement at any time in the event of fraud, misrepresentation, breach of these Terms, or default in repayment. Upon termination, the Customer must immediately return the financed device to the Company or settle any outstanding balance in full.

Limitation of Liability

The Company shall not be held liable for any indirect, incidental, or consequential losses arising from the use or malfunction of the financed device. The Company’s liability, if any, shall be limited strictly to the replacement of the device in case of proven manufacturer defects under warranty, as per the manufacturer’s terms.

Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of Uganda, including the Tier 4 Microfinance Institutions and Money Lenders Act, 2016. Any dispute arising under these Terms shall be resolved amicably between the parties. Where settlement is not possible, disputes shall be referred to arbitration in Uganda, in accordance with the Arbitration and Conciliation Act, before resorting to the courts of law.

Amendments

The Company reserves the right to update or amend these Terms at any time to comply with changes in law, regulatory requirements, or business practices. Customers will be notified of material changes through SMS, email, or notices at Company offices. Continued use of FastPay services after such notification constitutes acceptance of the revised Terms.

Acknowledgment and Acceptance

By signing the installment agreement, the Customer acknowledges that they have read, understood, and accepted these Terms and Conditions in full. The Customer further agrees to abide by these Terms until the financing is fully repaid.

Rice bro collection process

Fastpay Collections Process

Process followed by the business to remind customers for repayment on or before the due date. This is continued if the repayments are not received by the due date

Summary

All Customers (including those customers who are late in making their payments or have defaulted in their payment schedule) must be treated with respect, dignity, courtesy and fairness in debt collection efforts.

We believe that this is not only the right thing to do, but also the most effective.

This policy applies to all the employees , vendors/ agents or its employees which are hired or retained to collect dues and over dues from the customers.

Customers to be treated with Dignity.

Customers are entitled to privacy, privacy policy to be applied to all conversations with agents of the company.

All collection activities are in compliance with code for collections of dues stipulated (from time to time) by the Reserve Bank of India. All emails, letters, and other communications must be in the format approved by Collections and legal department

Steps followed :

• 1. The customer is reached out a few days before the due date approaches , only through non voice modes like Whats app and SMS.
• 2. Number of days prior to the due date is defined by the tenure and the program of the customer
• 3. No calls, very less calls are made to ensure there is no inconvenience caused to the customer.
• 4. After the due date crosses , an attempt is made to reach out to the customer telephonically regularly.
• 5. If the customer is not contactable over telephone regularly an authorized collection representative is sent to the registered address to request for payments.
• 6. Incase of a dispute the same is highlighted to the respective market place.