User Agreement of Crimson
INTRODUCTION
This Agreement is a financial services agreement together with the Privacy Policy between you ("user") and Crimson as a lending product ("App") under the laws of the Federal Republic of Nigeria.
The Terms and Conditions in this Agreement shall be applicable to you and your Crimson Account ("Account").
These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.
PART I. DEFINITIONS AND INTERPRETATION
1.1 Definitions
The terms and conditions in this agreement shall have the definitions or meanings explained below:
"Agreement" means this User Agreement;
"Privacy Policy" means the Privacy Policy of Crimson that sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us;
"Account" means your account registered in any Crimson product or application;
"Credentials" means your personal credentials used to access the Crimson App and operate your Account;
Loan" means the principal amount of the loan made or to be made by Crimson to you under this Agreement from time to time through the App or (as the context requires) the principal amount outstanding for the time being of that loan;
"Services" shall include any form of financial services or products that Crimson may offer you pursuant to this Agreement and as you may from time to time subscribe to and "Service" shall be construed accordingly;
"Request" means a request or instruction received by Crimson from you or purportedly from you through the Network and the System and upon which Crimson is authorized to act;
"Equipment" includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;
"Network" means a mobile cellular network operated by a Mobile Network Operator;
"Mobile Network Operator" means a mobile network operator in Nigeria registered with the Communications Authority of Nigeria;
"Payment Service Provider" means the institution providing with the service of money transfer and payment in Nigeria;
"Event of Default" occurs when you fail to repay any sum due for a Loan granted under this Agreement on or before the due date specified in the Loan, unless failure to pay is caused solely by an administrative error or technical problem of Crimson;
"Credit Reference Bureau"("CRB") means an institution duly licensed under the law in Nigeria, established to monitor the behavior of borrowers with the objective of enabling credit providers to overcome the challenge of Non-performing loans (NPLs) and reduce the loan default risk.
"SIM Card" means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Payment Service Account;
"SMS" means a short message service consisting of a text message transmitted from your mobile phone to another;
"System" means Crimson's electronic communications software enabling you to communicate with Crimson for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through a Mobile Network Operator's System;
"Technology" means services used or supported by Crimson.
"Transaction Fees" involves any fees and charges payable for the use of the Services as published by Crimson on <strong><strong>Crimson</strong></strong>s website or by such other means as Crimson shall in its sole discretion determine. Transaction Fees are subject to change at any time at Crimson's sole discretion.
"Service Fee" means a technology and operational service fee applied to the loan offered by Crimson.
"Late Fee" means the late fees applicable to you if you fail to make any repayments due to Crimson at the due date for such repayment;
"Business Day" means a day other than a Saturday, Sunday or national or public holiday in the Republic of Nigeria;
"Force Majeure" means events, circumstances or causes beyond its reasonable control of Crimson making Crimson's performance of its obligations inadvisable, commercially impracticable, illegal, or impossible, including but not limited to acts of God, war, strikes or labor disputes, embargoes or government orders;
1.2 Interpretation
1.2.1 In addition to the above definitions, unless the context requires otherwise: the singular shall include the plural and vice versa;
1.2.2 a reference to any one gender, whether masculine, feminine or neuter, includes the other two.
1.2.3 All the headings, sub-headings and bullet points in this Agreement are for convenience only and are not to be taken into account for the purposes of interpreting this Agreement.
1.2.4 The recitals and schedules shall be deemed to form part of this Agreement.
PART II. ACCEPTANCE OF TERMS AND CONDITIONS
2.1 You must carefully read and understand the Terms and Conditions set in this Agreement and as amended from time to time by Crimson before downloading or streaming the App or opening an account with Crimson which will govern the use and operation of the App and the Account.
2.2 After downloading the App, you will be asked to accept the Terms and Conditions upon clicking the "Accept" option on Crimson's App asking you to confirm that you have read, understood and agreed to abide by the Terms and Conditions. If you do not agree with the Terms and Conditions please click the "Decline" option in Crimson's App. Please note that you will not be able to access the Services if you decline the Terms and Conditions.
2.3 By downloading the App and opening an Account with Crimson, you agree to comply with and be bound by the Terms and Conditions governing the operation of the Account and you affirm that the Terms and Conditions herein are without prejudice to any other right that Crimson may have with respect to the Account in law or otherwise.
2.4 These Terms and Conditions may be amended or varied by Crimson from time to time and the continued use of the Services constitutes your agreement to be bound by the terms of any such amendment or variation. Crimson will take all reasonable measures to notify you of any changes.
2.5 From time to time updates to the App may be issued through the website. Depending on the update, you may not be able to use the Services until you have downloaded or streamed the latest version of the App and accepted any new terms and conditions.
2.6 By using the App or any of the Services, you consent to us collecting and using technical information about the Equipment and related software, hardware and peripherals for Services that are internet-based or wireless to improve our products and to provide any Services to you. If you use these Services, you consent to us and our affiliates' and licensees' transmission, collection, retention, maintenance, processing and use of your data to determine our credit scoring services or to improve our Services and/or your experience while using the App.
PART III. TOGETHER ACCEPTABLE USE RESTRICTIONS
3.1 INTELLECTUAL PROPERTY RIGHTS
3.1.1 You acknowledge that all intellectual property rights in the App and the Technology anywhere in the world belong to us or our licensors, that rights in the App are licensed (not sold) to you, and that you have no rights in, or to, the App or the Technology other than the right to use each of them in accordance with the terms of this Agreement. You acknowledge that you have no right to have access to the App in source-code form.
3.2 USE OF THE SERVICES
3.2.1 The Services offered by Crimson can only be utilized by persons over the age of 18. Crimson reserves the right to verify the authenticity and status of your Bank Account with the relevant Bank or Payment Service Provider.
3.2.2 Crimson's acceptance of your application for an Account will be displayed on the App. You hereby acknowledge and accept that the acceptance by Crimson of your application for an Account does not create any contractual relationship between you and the Payment Service Providers beyond the terms and conditions that apply to your Bank Account from time to time.
3.2.3 Crimson reserves the right to decline your application for a loan or to revoke the same at any stage at Crimson's sole and absolute discretion and without assigning any reason or giving any notice thereto.
PART IV. PERSONAL INFORMATION
4.1 You hereby agree and authorize Crimson to verify information provided by you to Crimson against the information held by the Payment Service Providers in relation to your Bank or Payment Service Account pursuant to the agreement between you and the relevant Bank or Payment Service Provider for the provision of its products and services and the Payment Service.
4.2 The information that Crimson may verify against the information held by the Payment Service Providers includes (without limitation): your phone number, name, date of birth, Identification Number ("ID") or Passport Number and such other information that will enable Crimson to identify you and comply with the regulatory "Know Your Customer" requirements (together the "Personal Information").
4.3 You hereby agree and authorize Crimson to verify information including, but not limited to, data relating to your phone (including, without limitation, your phone's history, your phone contact lists, and etc) from your Equipment, from any SMS sent to you by the Payment Service Providers and any financial services providers relating to your use of the Payment Service Service and such other information as Crimson shall require for purposes of providing you the Services (the "Relevant Information").
4.4 Attention! Permission of SMS Record and Phone Contact Lists. You hereby agree and authorize Crimson to obtain and procure your phone contact lists and SMS record to verify the authenticity of the emergency contacts you submitted, know your social relationship, analyze your financial situation, and evaluate your creditability when you apply for a loan.
4.5 You hereby consent to Crimson verifying the Personal Information and the Relevant Information with the Payment Service Providers and using of the Personal Information and the Relevant Information to the extent necessary in the opinion of Crimson.
4.6 You hereby agree and authorize Crimson to obtain and procure your Personal Information and Relevant Information from your respective Payment Service Provider and you further agree and consent to the disclosure and provision of such Personal Information by the Payment Service Provider and further to indemnify and hold Crimson and the Payment Service Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.
4.7 You hereby agree and authorize Crimson to obtain and procure your Personal Information from the Credit Reference Bureaus and you further agree and consent to the disclosure and provision of such Personal Information by the Credit Reference Bureaus.
4.8 Crimson reserves the right to request for further information from you pertaining to your application for an Account at any time. Failure to provide such information within the time required by Crimson may result in Crimson declining to accept your application for an Account.
4.9 Crimson reserves the right to supply consumer credit information to the Credit Reference Bureaus, and in this regard: you confirm that Crimson may transmit to the Credit Reference Bureaus data about the App, opening and termination of an Account by you;
4.10 you acknowledge that information on non-compliance with the Terms and Conditions of this Agreement is transferred to the Credit Reference Bureaus; and
4.11 the Credit Reference Bureaus provide a credit profile and possibly credit scores on your creditworthiness, subject to the credit record.
4.12 We collect data about the installed applications of users, including the application name and package name of each installed application on your deviceto evaluate your credit status.
PART V. REQUESTS MADE BY THE BORROWER
5.1 You hereby irrevocably authorize Crimson to act on all Requests received by Crimson from you (or purportedly from you) through the System and to hold you liable in respect thereof. Crimson may nevertheless refuse to carry out any Requests in its sole and absolute discretion.
5.2 Subject to its discretion, Crimson reserves the right to reject any Request in relation to a loan application from you even if you have previously been issued with a loan by Crimson.
5.3 Crimson 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, Crimson believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.
5.4 Crimson 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 Crimson may act if Crimson has in good faith acted in the belief that such instructions have been sent by you.
5.5 Crimson 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.
5.6 You agree to and shall release from and indemnify Crimson against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to Crimson having acted in accordance with the whole or any part of any of your Requests (or failed to exercise) the discretion conferred upon it.
5.7 Crimson is authorized to effect such orders in respect of your Account as may be required by any court order or competent authority or agency under the applicable laws.
5.8 In the event of any conflict between any terms of any Request received by Crimson from you and this Agreement, this Agreement shall prevail.
PART VI. INTEREST AND FEES
6.1 The percent charged as interest as allowed by law and payable by you to Crimson in relation to any Loan shall always be clearly and noticeably displayed and explained by Crimson on the App.
6.2 All payments to be made by you under this Agreement shall be made in full without any set off or counter claim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Crimson you shall immediately pay to Crimson such additional amounts as will result in Crimson receiving the full amount it would have received had no such deduction or withholding been required.
PART VII. STATEMENTS
7.1 A statement and activity report in respect of your Account will be made available on Request. Requests shall be made via our contact channel displayed on the App.
7.2 The statement on the App shall provide details of the last 4 (four) transactions (or such other number of transactions as determined by Crimson) in your Account initiated from your Equipment.
7.3 Your statement will show all amounts added or taken from your Account. You must check your statement carefully and notify Crimson as soon as possible if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.
7.4 Crimson reserves the right to rectify discrepancies, add and/or alter the entries in your statements, without prior notice to you. Crimson will however inform you of any rectification, additions and or alterations effected on your statements within a reasonable time after the changes are effected.
7.5 You will be notified of all transactions on your Account by way of SMS and the charges for this service will be debited to your Account.
7.6 Save for a manifest error, a statement issued to you in respect of your Branch Account shall be conclusive evidence of the transactions carried out on your Branch Account for the period covered in the statement.
PART VIII. TAXES
8.1 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 Crimson 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.
8.2 You hereby consent and agree that Crimson may withhold amounts in your Account if any tax authority requires Crimson to do so, or Crimson is otherwise required by law or pursuant to agreements with any tax authority to do so, or if Crimson needs to comply with internal policies or with any applicable order or sanction of a tax authority.
PART IX. BORROWER'S RESPONSIITIES
9.1 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.
9.2 You shall be responsible for ensuring the proper performance of your Equipment. Crimson shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall Crimson 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 Crimson shall not be responsible for losses or delays caused by any such service provider.
9.3 You shall follow all instructions, procedures and terms contained in this Agreement and any document provided by Crimson concerning the use of the System and the Services.
9.4 You hereby agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your Credentials secret and secure. You shall ensure that your Credentials do not become known or come into possession of any unauthorized person. Crimson shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold Crimson harmless from any losses resulting from any disclosure of your Credentials.
9.5 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 Crimson 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. You shall immediately inform Crimson in the event that:
9.5.1 You have reason to believe that your Credentials are or may be known to any person not authorized to know the same and/or have been compromised; and/or
9.5.2 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.
9.6 You shall at all times follow the security procedures notified to you by Crimson 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 Account'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.
10.7 You shall not at any time operate or use the Services in any manner that may be prejudicial to Crimson.
PART X. DEFAULT ON LOAN
10.1 An event of default (Event of Default) occurs when you:
10.1.1 fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or are declared bankrupt.
10.2 At any time after an Event of Default has occurred which is continuing, Crimson may, without prejudice to any other right or remedy granted to it under any law:
10.2.1 terminate this Agreement in accordance with clause 12 below;
10.2.2 declare that the Loan (and all accrued interest and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and
10.2.3 supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request.
PART XI. VARIATION AND TERMINATION
11.1 Crimson may at any time, upon notice to you, terminate or vary its business relationship with you and close your Account and in particular but without prejudice to the generality of the foregoing Crimson may cancel credits which it has granted and require the repayment of outstanding debts resulting from such credits within such time as Crimson may determine.
11.2 Without prejudice to Crimson's rights under clause 13.1, Crimson may suspend or close your Account:
11.2.1 if you use the Account for unauthorized purposes or where Crimson detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
11.2.2 if your Account or agreement with a Mobile Network Operator is terminated for whatever reason;
11.2.3 if Crimson is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
11.2.4 where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; to facilitate update or upgrade the contents or functionality of the Services from time to time; where your Account becomes inactive or dormant;
11.2.5 if Crimson 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; or
11.2.6 if you breach any of the license Restrictions or the Acceptable Use Restrictions.
Provided that Crimsom shall give a notice of any such suspension or closure to you, and where the grounds upon which the suspension or closure falls under the circumstances set out in sub-paragraphs 11.2.1, 11.2.2, 11.2.4 or 11.2.6, Crimson shall, by notice, give you an opportunity to respond and or remedy the situation within fourteen (14) days of issue of such notice. If, however, you fail to remedy the situation within 14 days, Crimson shall suspend or close your account within further recourse to you.
11.3 If your Account has a credit balance at any time as a result of overpayment of your Loan, you may issue a Request to Crimson for payment of such credit balance and Crimson will return any such balance to you, less any applicable fees, provided that such amount falls above the minimum transfer amounts specified by the relevant Payment Service Provider.
11.4 Termination shall however not affect any accrued rights and liabilities of either party.
11.5 If Crimson receives notice of your demise, Crimson will not be obliged to allow any operation or withdrawal from your Account by any person except upon production of administration letters from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by a court of competent jurisdiction.
PART XII. EXCLUSION OF LIABILITY
12.1 Crimson shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within Crimson'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.
12.2 You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the App as described meet your requirements.
12.3 We only supply the App for domestic and private use. You agree not to use the App and Documents for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
12.4 Crimson will not be liable for any losses or damage suffered by you as a result of or in connection with:
12.4.1 any defect or fault in the App or any Service resulting from you having altered or modified the App;
12.4.2 any defect or fault in the App resulting from you having used the App in breach of the terms of this Agreement;
12.4.3 your breach of any of the license Restrictions or the Acceptable Use Restrictions;
12.4.4 unavailability of sufficient funds in your Payment Service Account;
12.4.5 failure, malfunction, interruption or unavailability of the System, your Equipment, the Network or a Payment Service System; the money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your Account;
12.4.6 any fraudulent or illegal use of the Services, the System and/or your Equipment; or
12.4.7 your failure to comply with these Terms and Conditions and any document or information provided by Crimson concerning the use of the System and the Services.
12.5 If for any reason other than a reason mentioned in clauses 12.1 to 12.4, the Services are interfered with or unavailable, Crimson's sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.
12.6 Save as provided in clause 12.5, Crimson shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.
12.7 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.
PART XIII. INDEMNITY
13.1 Each Party shall indemnify, defend and hold the other Party harmless from all liabilities, costs and expenses (including, without limitation, attorney's fees) that such Party may suffer, sustain or become subject to as a result any misrepresentation or breach of warranty, covenant or agreement of the indemnifying Party contained herein or the indemnifying Party's gross negligence or willful misconduct in performance of its obligations under this Agreement
13.2 The indemnity in clause 13.1 shall also cover the following:
13.2.1 All demands, claims, actions, losses and damages of whatever nature which may be brought against Crimson 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 Crimson'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 Crimson.
13.2.2 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.
13.2.3 Any unauthorized access to your Account 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.
13.2.4 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 Crimson as a consequence of any breach by these Terms and Conditions.
13.2.5 Any damages and costs payable to Crimson in respect of any claims against Crimson for recompense for loss where the particular circumstance is within your control.
PART XIV. COMMUNICATION BETWEEN US
14.1 If you wish to contact us in writing, or if any condition in these Terms and Conditions requires you to give us notice, you can send this to us by e-mail or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.
14.2 If we have to contact you or give you notice in writing, we will do so by e-mail or by sms to the mobile phone number or email address you provide to us in your request for the App.
PART XV. GENERAL
15.1 Remedies Cumulative
15.1.1 No failure on the part of any party to exercise, or delay on its part in exercising, any right, power or remedy provided by this Agreement or by law shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further or other exercise of that, or any other, right, power or remedy.
15.2 No waiver
15.2.1 No failure by Crimson to exercise, and no delay in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or remedy.
15.3 Effect of invalidity
15.3.1 If any provision or part of a provision of this Agreement shall be, or be found by any court of competent jurisdiction to be, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of this Agreement, all of which shall remain in full force and effect.
PART XVI. ENTIRE AGREEMENT
16.1 These Terms and Conditions and our Privacy Policy constitute the entire agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.
16.2 You acknowledge that in entering into this Agreement you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions or our Privacy Policy.
16.3 You and we agree that neither of us shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.
PART XVII. DISPUTE RESOLUTION
17.1 Disputes
17.1.1 The Parties shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with this Agreement. To this end, the Parties in dispute shall each promptly appoint representatives of appropriate standing who shall meet and attempt to resolve any dispute between them. In the event that an amicable settlement has not been reached within thirty (30) days of the parties' representatives meeting.
17.2 Arbitration
17.2.1 Any dispute, difference or question whatsoever and howsoever arising out of or in connection with this Agreement, save as specifically provided herein, shall be referred for final determination to a single arbitrator to be appointed by agreement between the parties hereto or in default of any such agreement within seven (7) days of the notification of any dispute by either party to the other then, upon application by either party, by the Chairman for the time being of the Nigerian Branch of the Chartered Institute of Arbitrators ("Institute").
17.2.2 Such arbitration shall take place in Nigeria and shall be conducted in accordance with the Rules of Arbitration in force in Nigeria
17.2.3 To the extent permissible by law the determination of the arbitrator shall be final and binding upon the Parties and shall not be subject to any appeal.
PART XVIII. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
Crimson Credit
Privacy Policy and Cookie Policy
23rd October, 2022.
Background:
Crimson Credit understands that your privacy is important to you and that you care about how your information is used and shared online. We respect and value the privacy of everyone who visits our site and will only collect and use information in ways that are useful to you and in a manner consistent with your rights and our obligations under the law.
This Policy applies to our use of any and all data collected by us in relation to your use of our site.
Please read this Privacy Policy carefully and ensure that you understand it. You will be required to read and accept this Privacy Policy when signing up for an Account. If you do not accept and agree with this Privacy Policy, you must stop using our site immediately.
In this Policy the following terms shall have the following meanings:
"Account" | means an account required to access and/or use certain areas and features of our Site; |
"Cookie" | means a small text file placed on your computer or device by our site when you visit certain parts of our site and/or when you use certain features of Our Site. Details of the Cookies used by our site are set out in section 12, below;] |
"Our Site" | means this website, https://www.crimson-credit.com/ |
"Act" | means the relevant parts of the Nigerian Data Protection Regulation 2019 and the National Information Technology Development Agency Act, 2007 |
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This Privacy Policy applies only to your use of Our Site. It does not extend to any websites that are linked to from Our Site (whether we provide those links or whether they are shared by other users). We have no control over how your data is collected, stored or used by other websites and we advise you to check the privacy policies of any such websites before providing any data to them.
Some data will be collected automatically by Our Site, other data will only be collected if you voluntarily submit it and consent to Us using it for the purposes set out in section 5, for example, when signing up for an Account. Depending upon your use of Our Site, We may collect some or all of the following data:
i. Name;
ii. contact information such as email addresses, telephone numbers and residential addresses;
iii. Your date of birth
iv. Your biometric identity card
v. Your Bank Verification Number
vi. demographic information such as post code, preferences and interests;
vii. Device information such as device brand, model, Android version, device memory/ROM, device CPU information (automatically collected)
viii. IP address (automatically collected);
ix. web browser type and version (automatically collected);
x. operating system (automatically collected);
xi. SMS information which include SMS content, receiving/sending mobile phone number, receiving/sending name (automatically collected)
i. Providing and managing your Account;
ii. Providing and managing your access to Our Site;
iii. Personalising and tailoring your experience on Our Site;
iv. Supplying Our services to you;
v. Personalising and tailoring Our services for you;
vi. Responding to communications from you;
vii. Supplying you with emails: e.g. newsletters, alerts etc. that you have subscribed to (you may unsubscribe or opt-out at any time)
viii. Analysing your use of Our Site and gathering feedback to enable Us to continually improve Our Site and your user experience;
4.3 In some cases, the collection of data may be a statutory or contractual requirement, and We will be limited in the services we can provide you without your consent for us to be able to use such data.
4.4 With your permission and where permitted by law, We may also use your data for marketing purposes which may include contacting you by email, telephone or text message and post with information, news and offers on our products and services. We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that we fully protect your rights and comply with our obligations under the Nigerian Data Protection Regulation 2019 and the National Information Technology Development Agency Act, 2007.
4.5 Advertisers whose content appears on our site may engage in what is known as "behavioural advertising" - advertising which is tailored to your preferences, based on your activity. Your activity is monitored using Cookies, as detailed below in section 12. You can control and limit your data used in this way by adjusting your web browser's privacy settings. Please note that We do not control the activities of such advertisers, nor the information they collect and use. Limiting the use of your data in this way will not remove the advertising, but it will make it less relevant to your interests and activities on Our Site.
4.6 We will ensure that your personal data is processed lawfully, fairly, and transparently, without adversely affecting your rights. We will only process your personal data if at least one of the following basis applies:
i. you have given consent to the processing of your personal data for one or more specific purposes;
ii. processing is necessary for the performance of a contract to which you are a party or in order to take steps at the request of you prior to entering into a contract;
iii. processing is necessary for compliance with a legal obligation to which we are subject;
iv. processing is necessary to protect the vital interests of you or of another natural person;
v. processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller; and/or
vi. processing is necessary for the purposes of the legitimate interests pursued by us or by a third party, except where such interests are overridden by the fundamental rights and freedoms of the data subject which require protection of personal data, in particular where the data subject is a child.
Notwithstanding the security measures that We take, it is important to remember that the transmission of data via the internet may not be completely secure and that you are advised to take suitable precautions when transmitting to Us data via the internet.
In the process of using our client's functional services, when the experience function needs to call the client or SDK, the following device permissions will be called to ensure normal function implementation.
The app has a link to a registered third-party SDK that collects and stores data on our behalf on a secure server to perform credit risk assessments. We ensure that we/our third party service providers have extensive security measures in place to protect your personal information from loss, misuse or alteration of data. Our third-party service providers employ environment separation and separation of duties, with strict role-based access controls based on logging, authorization, and usage needs. Stored data is protected and stored with application-level encryption. They enforce key management services to restrict access to data. Additionally, our registered third-party service providers offer managed security - they use industry-leading antivirus, antimalware, intrusion prevention systems, intrusion detection systems, file integrity monitoring and application control solutions.
You can check the open status of the following permissions one by one through the application permission settings in the system settings, and you can decide to open or close these permissions. Turning on means that you authorize us to use these permissions to implement the following functions, and turning off means that you cancel these authorizations, and we will not be able to provide you with the following functions corresponding to these authorizations.
In order for you to better understand and use our functional services, you can learn about it through the permission usage instructions listed below:
Description of usage: Crimson will use the camera to shoot to support the shooting certificate.
Description of usage: Crimson will collect, read, and transmit SMS data (text content, receiving, sending mobile phone numbers, receiving, sending names) to support credit risk assessment and anti-fraud functions (according to our analysis, scammers' SMS records usually contain information about For negative credit information, so we will read the negative information about credit to carry out risk assessment for users).
Description of usage: Crimson collects location data to support finding and verifying addresses, helping to make better credit risk decisions.
Description of usage: Crimson will collect and transmit application list data (including but not limited to application name, application package name, application installation time, application update time, application version name and application version code) to support risk credit assessment and anti-fraud functions.
Description of usage: Crimson will collect, read, and transmit album data (including but not limited to name, width and height, latitude and longitude, creation time, modification time) to support the risk credit assessment function, which allows us to judge your credit faster and more accurately grade.
Description of usage: Used for basic connection network functions
Description of usage: Crimson will collect and transmit specific information data about mobile phones (including but not limited to mobile phone model, system version, device name, screen resolution) to support credit risk assessment and anti-fraud functions.
You have the legal right to ask for a copy of any of your personal data held by Us (where such data is held). Please contact Us for more details at info@crimson-credit.com
12.6 Our Site uses analytics services provided by Google analytics. Website analytics refers to a set of tools used to collect and analyse usage statistics, enabling us to better understand how people use our site. This, in turn, enables us to improve our site and the products and services offered through it. You do not have to allow us to use these cookies, as detailed below, however whilst our use of them does not pose any risk to your privacy or your safe use of our site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.The analytics service(s) used by Our Site use(s) Cookies to gather the required information. Certain of these cookies may be placed immediately when you first visit our site, and it may not be possible for us to obtain your prior consent. You may remove these cookies and prevent future use of them by following the steps set out below in section 12.9.
12.7 You can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
12.8 You can choose to delete Cookies at any time however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
12.9 It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings
Under the Act, you have:
i. the right to request access to, deletion of or correction of, your personal data held by Us;
ii. the right to complain to a supervisory authority;
iii. be informed of what data processing is taking place;
iv. the right to restrict processing;
v. the right to data portability;
vi. object to processing of your personal data;
vii. rights with respect to automated decision-making and profiling
viii. To enforce any of the foregoing rights or if you have any other questions about Our Site or this Privacy Policy, please contact Us using the details set out in section 15 below.
14.1 In the event that We use personal data for the purposes of automated decision-making and those decisions have a legal (or similarly significant effect) on You, You have the right to challenge such decisions under the Act, requesting human intervention, expressing their own point of view, and obtaining an explanation of the decision from Us.
14.2 The right described in section 14.1 does not apply in the following circumstances:
14.4 We currently make the following automated decisions: Zaiper to power our website. automations, email marketing automation, website integration
14.5 We currently profile your personal data for marketing purposes:
We may change this Privacy Policy as we may deem necessary from time to time, or as may be required by law. Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.