Terms & Conditions

1.THE AGREEMENT

1.1. This Agreement sets out the complete terms and Conditions (hereinafter called “these Terms and conditions”) which shall be applicable to the Spider Cash.

1.2. These Terms and conditions and any amendments or variations thereto take effect on their date of publication.

1.3. These terms and conditions are a legal agreement between you and Spider Nest Limited that govern your access and use of the Spider Nest’s Mobile Application Spider Cash (herein referred to as the Application).

1.4. By using this Application you will be deemed to have read , understood and accepted to be bound by these Terms and Conditions. You agree to indemnify Spider Nest Ltd for any losses, costs and expenses related with your failure to comply with the Terms and Conditions.

2.1.DEFINITIONS

2.2. In these Terms and Conditions the following words and expressions (save where the context requires otherwise) bear the following meanings:

2.3. Spider Cash is the registered trading name for Spider Nest Limited

2.4. Spider Nest Limited herein after called Spider is incorporated in Kenya as a limited liability company under the Companies Act (Chapter 486 of the Laws of Kenya).

2.5. The “Application” shall mean the android software provided by Spider Nest Limited under the trade name Spider Cash App.

2.6. “Credit Reference Bureau” means a credit reference bureau duly licensed under the Banking Act pursuant to the Banking (Credit Reference Bureau) Regulations, 2013, as amended, revised or promulgated from time to time, to inter alia, collect and facilitate the sharing of customer credit information;

2.7. “Customer” means the person who transacts with Spider Nest Limited

2.8. “E-Money” means the electronic monetary value depicted in your M-PESA Account representing an equal amount of cash;

2.9. “Equipment” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;

2.10. “IPRS” means the Integrated Population Registration System set up and maintained by the Government of Kenya under the Ministry of State for Immigration and Registration of Persons and its successors;

2.11. “M-PESA Account” means your mobile money store of value, being the record maintained by Safaricom of the amount of E-Money from time to time held by you in the M-PESA System;

2.12. “M-PESA Service” means the money transfer and payments service provided by Safaricom through the M-PESA System;

2.13. “M-PESA System” means the system operated by Safaricom in Kenya for the provision of the M-PESA Service using the Network;

2.14. “SPIDER CASH PIN” means your personal identification number being the secret code used to access and operate the Application.

2.15. “M-PESA Subscriber” means any person registered to use the M-PESA System to send or receive money or make payments;

2.16. “Network” means the mobile cellular network operated by Safaricom;

2.17. “Request” means a request or instruction received by the Application from you or purportedly from you through upon which the Spider is authorized to act;

2.18. “Safaricom” means Safaricom Limited incorporated in Kenya as a limited liability company under the Companies Act (Cap 486 of the Laws of Kenya);

2.19. “Services” shall include any form of credit facility that Spider may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed accordingly;

2.20. “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network.

2.21. “SMS” means a short message service consisting of a text message transmitted from one mobile phone to another;

2.22. “SPIDER CASH APP” means the Spider’s mobile software application that enables the Customer to communicate with Spider for purposes of the Services.

2.23. “Transaction Fees” includes any fees and charges payable for the use of the Services as published by the Spider Nest Limited on our website and/or the daily newspapers in Kenya or by such other means as Spider Nest Limited shall in its sole discretion determine. Transaction Fees are subject to change at any time at Spider Nest Limited’s sole discretion; and includes but is not limited to the rollover fee and penalty charge.

2.24. “We,” “our,” and “us,” means the Spider Nest Limited and includes the successors and assigns of Spider;

2.25. “You” or “your” means the Customer and includes the personal representatives of the Customer;

2.26. The word “Customer” shall include both the masculine and the feminine gender as well as juristic persons;

2.27. Words importing the singular meaning where the context so admits include the plural meaning and vice versa.

3.1. ACCEPTANCE OF THE TERMS AND CONDITIONS

3.2. Before transacting with the Application you should carefully read and understand these Terms and conditions which will govern the transactions.

3.3. If you do not agree with these Terms and conditions, please click “Decline” on the Application.

3.4. You will be deemed to have read, understood and accepted these Terms and Conditions: upon clicking on the “Accept” option on the Application requesting you to confirm that you have read, understood and agreed to abide with these Terms and Conditions; and/or by using or continuing to use and operate the Application and/or the Services.

3.5. By applying to open the Application you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Application and you affirm that these Terms and Conditions herein are without prejudice to any right that the Spider may have with respect to the Application in law or otherwise.

3.6. These Terms and Conditions may be amended or varied by Spider from time to time and the continued use of the Application and/or the Services constitutes your agreement to be bound by the terms of any such amendment or variation.

4.1. TRANSACTING WITH SPIDER CASH

4.2. In order to transact with Spider you must be at least 18 years old and a registered and active M-PESA Subscriber for at least six (12) months immediately preceding the date of your application. Spider reserves the right to verify with Safaricom the authenticity and status of your M-PESA Account.

4.3. You shall transact with Spider solely by way of an electronic application made on the mobile app over the internet.

4.4. You hereby agree and authorize the Application to request Safaricom for your personal information held by Safaricom pursuant to the agreement between you and Safaricom for the provision of Safaricom products and services and M-PESA Service including your phone number, name, date of birth, ID or Passport Number and such other information that will enable the Application to identify you and comply with the regulatory “Know Your Customer” requirements (together with the “Personal Information”). You also hereby agree and authorize the Application to request Safaricom for information relating to your use of the M-PESA Service, M-PESA System and Safaricom Services as the Application shall require for purposes of providing you the Services

4.5. (“M-PESA Information”). You hereby consent to the disclosure of the Personal Information and the M-PESA Information by Safaricom to the Application and to the aforesaid use of the Personal Information and the M-PESA Information by the Application.

4.6. You hereby agree and authorize Spider Nest Ltd to obtain and procure your Personal Information contained in the IPRS from the Government of Kenya and you further agree and consent to the disclosure and provision of such Personal Information by the Government of Kenya to the Application.

4.7. You hereby further acknowledge and authorize the Application to verify your Personal Information received from Safaricom pursuant to Clause 4.4 against the information received from the Government of Kenya in your respect as contained in the IPRS.

4.8. The Application reserves the right to request for further information from you pertaining to your application to transact with Spider at any time. Failure to provide such information within the time required by the Spider may result in your transaction being declined.

4.9. Acceptance by the Application of your application to transact with us shall be done via SMS sent to the Safaricom Mobile Phone Number associated with your M-PESA Account or via the Application. You acknowledge and accept that the acceptance by Spider of your application to transact does not create any contractual relationship between you and Safaricom beyond the terms and conditions that apply to your M-PESA Account from time to time.

4.10. Spider reserves the right to decline your application to transact and to revoke the same at any stage at Spider’s sole discretion and without assigning any reason or giving any notice thereto.

4.11. You agree not to use the application or the content information delivered through the Application in any way that would

a. Infringe on Spider’s copyright, patent, trademark, trade secret, trade name, or other proprietary rights or rights of publicity or privacy including any rights in the software.

b. Violate any statute or ordinance or regulation.

c. Be fraudulent

d. Interfere with or disrupt computer networks connected with the application

e. Interfere with or disrupt the use of the application by any other user or

f. Use the Application in such a manner as to gain unauthorized entry or access to the computer systems of others

4.12. You acknowledge that the terms of agreement with your respective mobile network provider will continue to apply when using the Application. As a result you may be charged by the mobile service provider for access to the network connection services for the duration of the connection while accessing the application or any such third party charges as may arise.

4.13. If you are not the bill payer for the mobile device being used to access the Application you will be assumed to have received permission from the bill payer for using the application.

4.14. You hereby irrevocably authorize Spider to act on all Requests received by the Application from you (or purportedly from you) through the Spider Cash App and to hold you liable in respect thereof.

4.15. Spider shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, it believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.

4.16. Spider Nest Limited shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which Spider Nest Limited may act if we have in good faith acted in the belief that such instructions have been sent by you.

4.17. Spider may, in its absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further enquiry or further confirmation (whether written or otherwise) from you. Spider shall not be under any obligation to so decline in any case, and shall in no event or circumstance be liable for not so declining.

4.18. You agree to, and shall release from, and indemnify Spider against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to Spider having acted in accordance with the whole or any part of any of your Requests (or failed to exercise) the discretion conferred upon it.

4.19. You acknowledge that to the full extent permitted by law Spider shall not be liable for any unauthorized loan request or any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Spider PIN, password, ID or any means whether or not occasioned by your negligence.

4.20. Subject to the approval of your application for a loan Spider shall disburse to you a loan of an amount to be determined by us in our sole discretion subject to a minimum amount of Kenya Shillings One Hundred (Kshs. 100/=) and a maximum amount of Kenya Shillings Fifty Thousand (Kshs. 50,000/=) or such other minimum or maximum amount as Spider Nest may from time to time in its sole discretion determine.

4.21. The proceeds of the Loan shall be credited into your M-PESA Account.

4.22. You shall repay the Loan within thirty (30) calendar days of the date of disbursement of the Loan. In consideration of Spider granting you the Loan, you shall pay Spider a facility fee being 15% of the Loan amount (the “Facility Fee”). The Facility Fee shall be paid by you in arrears in addition to the Loan.

4.23. You shall make all payments due from you to Spider in respect of the Loan and Transaction Fees using the M-PESA Service and the Spider Cash App only unless otherwise agreed by Spider at its discretion.

4.24. The payments shall be made through the paybill number 811894

4.25. In the event that you do not repay the Loan in full within thirty (30) calendar days of the date of disbursement of the Loan, Spider will automatically roll over any outstanding amount in respect of the Loan including the Facility Fee for a further period of thirty (30) calendar days

4.26. In consideration of Spider forbearing to demand the immediate payment of the outstanding amount due in respect of your Loan and rolling over the same you shall, in addition to paying the outstanding amount in respect of the Loan and any outstanding Facility Fee, pay to Spider a roll-over fee being 15% of the outstanding amount in respect of the Loan and a penalty fee of Kshs 200.

4.27. Spider shall be entitled to terminate this Agreement and close your Account without prejudice to any of its rights accruing hereunder if you fail to repay the Loan and/or the Transaction Fees or the penalties due thereon within sixty (60) calendar days of the disbursement of the Loan.

4.28. Spider reserves the right to vary the terms of the Loan including the fees payable thereon from time to time having regard to the prevailing rules and regulations and our policies.

5.1. FEES

5.2. You hereby agree to pay all Transaction Fees payable in connection with your use of the Services including but not limited to any legal charges including advocate and client costs incurred by Spider in obtaining legal advice in connection with your dealings with Spider or incurred by Spider in any legal, arbitration or other proceedings arising out of any dealings in respect of your transactions with us ; and all other fees, expenses and taxes, duties, impositions and expenses incurred in complying with your Requests.

5.3. You hereby agree to pay costs charges and expenses incurred by Spider in obtaining or attempting to obtain payment of any loan owed to us.

6.1. CUSTOMER COMPLAINTS

6.2. Complaints may be made in writing, by post, email, through the Chat service on the application or by telephone.

6.3. Spider will take all measures within its means to resolve your complaints within a reasonable time. All complaints will be handled in accordance with our complaints handling procedures, which are available on request. Where a notification regarding your complaint or any other matter is expected from us but not received, the complaint must be made within a reasonable time after non-receipt of such notification.

6.4. Applicable tariffs will be charged by your telephone and internet service provider (s) when communicating with us.

7.1.OTHER CHARGES AND EXPENSES

7.2. Spider may accrue to you fees, commissions, costs and other charges in respect of Spider’s products and services provided to you, including but not restricted to the following:

7.3. Legal charges: Advocate and client charges, costs and expenses incurred in any legal, arbitration or other proceedings arising out of or connected with your transactions with Spider;

7.4. Commissions: Commissions at such rates as Spider may determine from time to time.

7.5. Other charges and expenses: All other proper expenses and charges including but not limited to ledger fees, postage, cables, telephone calls, taxes, duties and impositions. Spider may also charge you with expenses incurred:

a. In complying with your requests;

b. In complying with the requests of authorized and accredited Government or other agencies in relation to your transactions;

c. In maintaining your records;

d. In collecting or attempting to collect any amount of money you owe Spider; and

e. Such penalties as are provided in these Terms and Conditions at any rate or rates as Spider may determine from time to time. The penalties will be calculated on daily balances and accrued monthly. Penalties shall be due and payable notwithstanding the determination of your relationship with Spider until settlement in full;

7.6. Spider will provide you with a detailed breakdown of the costs, charges and expenses incurred.

8.1. TAXES

8.2. All payments to be made by you in connection with these terms and conditions are calculated without regard to any taxes payable by you. If any taxes are payable in connection with the payment, you must pay Spider an additional amount equal to the payment multiplied by the appropriate rate of tax. You must do so at the same time as making the payment.

9.1.SPIDER M-PESA LOANS

9.2. In order to qualify for a Loan, you must be at least 18 years old, a registered and active M-PESA subscriber for at least fifty one (51) months.

9.3. Upon Downloading and registering on the Application you will receive a confirmation message bearing your credit limit. You may thereafter, subject to these terms and conditions, apply for a loan.

9.4. Customers who do not have an allocated credit limit will be required to transact on M-pesa and build a history to get a credit score.

9.5. As you apply for the loan, you will be able to select your preferred loan repayment period from the Application Menu on your Equipment. The maximum available repayment period options on the Menu will be for repayment within 30 calendar days

9.6. Your Loan application will be appraised according to the applicable loan appraisal processes of Spider. Spider reserves the right at its sole discretion and without assigning any reason to approve or decline your application for a loan.

9.7. Acceptance or rejection by Spider of your application for a Loan shall be done via SMS sent to the Mobile Phone Number associated with your M-PESA Account.

9.8. Subject to approval of your application for a loan, Spider shall disburse to you a loan of an amount to be determined by Spider in its sole discretion subject to a minimum amount of Kenya Shillings one hundred (Kshs.100) and a maximum amount of Kenya Shillings fifty thousand (Kshs. 50,000) or such other minimum or maximum amount as Spider may from time to time in its sole discretion determine.

9.9. Spider will directly credit the loan proceeds into your M-PESA Account subject to any deductions on account of applicable Transaction Fees and interest charges.

9.10. You may withdraw the loan from your M-PESA Account which will be subject to the deposit and withdrawal limits under the M-PESA Service.

9.11. In consideration of Spider granting you the loan, you shall pay the transaction fees as at 15% per month

9.12. You shall make all payments due from you to Spider in respect of the loan and Transaction Fees through your M-PESA Account and paybill number 811894

9.13. In the event that you do not repay the loan in full within the agreed repayment period, Spider will automatically roll over any outstanding amount in respect of the loan for a further period of thirty (30) calendar days.

9.14. You hereby expressly consent and authorize Spider to disclose, respond, advise exchange and communicate the details or information pertaining to your Loan Account and or loan to Credit Reference Bureaus or any regulator or authority as may be required under the law.

9.15. You also hereby expressly consent and authorize Spider to disclose, respond, advise exchange and communicate the details or information pertaining to your Loan to third parties involved in the administration of your Loan Account and or loan, underwriting of insurance policies, updating of databases, or provision of user support.

10.1.DISCLOSURE

10.2.You hereby expressly consent and authorize Spider to disclose receive record or utilize your personal information or information or data relating to your M-PESA Account and any details of your use of the Services: to and from Spider’s service providers, or any other company that may be or become Spider’s subsidiary or holding company for reasonable commercial purposes relating to the Services;

10.3. to a Credit Reference Bureau;

10.4. to Spider’s lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;

10.5. to Safaricom in connection with the M-PESA Service and the Services;

10.6. for reasonable commercial purposes connected to your use of the Services, such as marketing and research related activities; and

10.7. In business practices including but not limited to quality control, training and ensuring effective systems operation.

10.8. You authorize Spider to disclose any information relating to your Loan to any local or international law enforcement or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud or to any other institution or third party as required by the laws of any country and as the Spider may deem necessary.

11.1.YOUR EQUIPMENT AND RESPONSIBILITIES

11.2. You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.

11.3. You shall be responsible for ensuring the proper performance of your Equipment. Spider Cash shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall Spider Cash be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and Spider shall not be responsible for losses or delays caused by any such service provider.

11.4. You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by Spider concerning the use of the System and Services.

11.5. You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your SPIDER CASH PIN secret and secure. You shall ensure that your SPIDER CASH PIN does not become known or come into possession of any unauthorized person. Spider shall not be liable for any disclosure of your SPIDER PIN to any third party and you hereby agree to indemnify and hold Spider harmless from any losses resulting from any SPIDER CASH PIN disclosure.

11.6. You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from Spider are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected.

11.7. You shall immediately inform Spider through email in the event that:

a. You have reason to believe that your SPIDER CASH PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or

b. You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.

11.8. You shall at all times follow the security procedures notified to you by Spider from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Application’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.

11.9. You shall not at any time operate or use the Services in any manner that may be prejudicial Spider.

12.1.EXCLUSION OF LIABILITY

12.2. Spider shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of (a) the failure of any of your Equipment,

12.3. or (b) any other circumstances whatsoever not within Spider’s control including, without limitation, force majeure or error, interruption, delay or non- availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

12.4. Spider will not be liable for any losses or damage suffered by you as a result of or in connection with failure, malfunction, interruption or unavailability of the System, your Equipment, the Network, M-PESA System and/or M- PESA Service;

12.5. any fraudulent or illegal use of the Services, the System and/or your Equipment; or

12.6. Your failure to comply with these Terms and conditions and any document or information provided by Spider concerning the use of the System and the Services.

12.7. If for any reason other than a reason mentioned in subparagraphs 12.3 or 12.4, the Services are interfered with or unavailable, Spider’s sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.

12.8. Save as provided in subparagraph 12.7 Spider shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.

12.9. Under no circumstances shall Spider be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Spider.

12.10. All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

13.1.INTELLECTUAL PROPERTY RIGHTS

You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that Spider provides to you through the System or otherwise are vested either in Spider or in other persons from whom Spider has a right to use and to sub-license the System and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of Spider.

14.1.INDEMNITY

14.2. In consideration of Spider complying with your instructions or Requests in relation to your Spider M-PESA Loan, you undertake to indemnify Spider and hold it harmless against any loss, charge, damage, expense, fee or claim which Spider suffers or incurs or sustains thereby and you absolve Spider from all liability for loss or damage which you may sustain from Spider acting on your instructions or requests or in accordance with these Terms and conditions.

14.3. The indemnity in clause 14.1 shall also cover the following:

14.4. All demands, claims, actions, losses and damages of whatever nature which may be brought against Spider or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond Spider’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Spider.

14.5. Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs

14.6. Any unauthorized access to your Application or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.

14.7. Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Spider as a consequence of any breach by these Terms and conditions.

14.8. Any damages and costs payable to Spider in respect of any claims against Spider for recompense for loss where the particular circumstance is within your control.

15.1.VARIATION AND TERMINATION OF RELATIONSHIP

Spider may at any time, upon notice to you, terminate or vary its business relationship with you and in particular but without prejudice to the generality of the foregoing Spider may require the repayment of outstanding debts resulting from its business relationship with within such time as Spider may determine.

15.2. Without prejudice to Spider’s rights under clause 15.1, Spider may at its sole discretion suspend or close or terminate its business relationship with you:

a. where Spider detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;

b. if your M-PESA Account or agreement with Safaricom is terminated for whatever reason;

c. if Spider is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;

d. if Spider reasonably suspects or believes that you are in breach of these terms and conditions (including non-payment of any Loan amount due from you where applicable);

e. where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety;

f. to facilitate update or upgrade the contents or functionality of the Services from time to time;

g. where you become inactive or dormant;

h. If Spider decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.

15.3. You may end your business relationship with us at any time.

15.4. If your Loan Account is in arrears at the time of closure of your Account, you agree to pay to us immediately all amounts you owe us.

15.5. Termination shall however not affect any accrued rights and liabilities of either party.

16.1.MISCELLANEOUS

16.2. These terms and conditions (as may be amended from time to time) form a legally binding agreement binding on you and your personal successors.

16.3. This Agreement and any rights or liabilities accruing thereunder may not be assigned by you to any other person.

16.4. Spider may vary or amend these terms and conditions and the Transaction Fees at any time and without notice to you. Any such variations or amendments may be published in posters or pamphlets available at our offices, in the daily newspapers, on our website and/ or by any other means as determined by Spider and any such variations and amendments shall take effect immediately upon publication.

16.5. No failure or delay by either yourself or Spider in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.

16.6. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.

16.7. If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions herein.

16.8. Any addition or alteration to these Terms and Conditions may be made from time to time by Spider and of which notice has been given to you by way of publication as provided in subparagraph 16.4 shall be binding upon you as fully as if the same were contained in these terms and conditions.

17.1.NOTICES

Spider may send information concerning the Spider Loan Account via SMS to the Safaricom Mobile Phone number associated with your M- PESA Account.

17.2. You acknowledge that you have no claim against Spider for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to your Account.

17.3. DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION

You may contact our offices to report any disputes, claims to your account.

17.4. Any dispute arising out of or in connection with this Agreement that is not resolved by our representatives shall be referred to arbitration by a single arbitrator to be appointed by agreement between the parties or in default of such agreement within 60 days of the notification of a dispute, upon the application of either party, by the Chairman for the time being of the Chartered Institute of Arbitrators (Kenya Branch). Such arbitration shall be conducted in the English language in Nairobi in accordance with the Rules of Arbitration of the said Institute and subject to and in accordance with the provisions of the Arbitration Act.

17.5. To the extent permissible by Law, the determination of the Arbitrator shall be final, conclusive and binding upon the parties hereto.

17.6. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.