AyaLend Terms of Service
Effective Date: July 3, 2025
We may update these Terms of Service based on legal or operational needs. Updates will be
communicated via in-app notifications, website announcements, or email. Continued use of
AyaLend constitutes acceptance of the updated terms. If you do not agree, please
discontinue using our services.
1. Introduction to Our Terms
1.1 About AyaLend
AyaLend is operated by AVANÇA NA VIDA – SOCIEDADE DE MICRO CRÉDITO, LDA. (Registration
No.: FCDS00000138792/18102023).
Regulated by the Bank of Ghana, we provide secure and accessible loan services through
the AyaLend mobile app (available
on Google Play under the "Finance" category) and our website
(https://www.avancanavida.co). These Terms of Service
govern your use of our app, website, and related services.
1.2 Scope of These Terms
These terms apply to all users interacting with AyaLend services, including browsing,
registering, applying for loans, or managing accounts. By accessing or using our
services, you agree to be bound by these terms and our Privacy Policy.
1.3 Your Acceptance
- To use AyaLend's loan-related features, you must explicitly agree to these terms
during registration or loan application processes via clear prompts (e.g., in-app
consent screens).
- Non-acceptance: You may browse the app but cannot access loan or
account management features without agreeing.
- Updates: Continued use after updates implies acceptance of the
revised terms.
2. Eligibility and Account Responsibilities
2.1 Who Can Use AyaLend?
- Be at least 18 years old, verified through our Know Your Customer (KYC) process.
- Be a resident of Ghana or a jurisdiction where AyaLend is authorized to operate.
- Provide accurate, complete, and current information during registration and loan
applications.
- Not be prohibited from using financial services under applicable laws or
regulations.
2.2 Your Account Responsibilities
- Account Security: You are responsible for maintaining the
confidentiality of your account credentials (e.g., username, password) and for all
activities under your account.
- Accurate Information: You must provide truthful and up-to-date
information for KYC verification, loan applications, and account management.
- Prohibited Actions: You may not share your account, use another's
account, or attempt to bypass our security measures.
- Notify Us: Immediately report any unauthorized account access to
support@ayalend.com.
3. Our Services
3.1 What AyaLend Offers
- Loan applications and approvals based on credit assessments.
- Loan disbursement and repayment management via bank accounts or mobile payment
platforms.
- Customer support for inquiries and dispute resolution.
- Service Availability: Services are subject to availability,
regulatory approval, and our discretion to approve or deny loan applications.
3.2 Usage Conditions
- Compliance: You must use our services in accordance with these
terms and all applicable laws, including the Ghana Data Protection Act (2019) and
financial regulations.
- Loan Terms: Approved loans are subject to separate loan agreements
detailing repayment schedules, interest rates, and fees, which you must review and
accept.
- Permitted Use: Services are for personal, non-commercial use only
unless otherwise agreed in writing.
4. Your Obligations
4.1 Responsible Use
- Provide accurate information for identity verification, credit assessment, and loan
processing.
- Repay loans on time as per the agreed loan terms, including principal, interest, and
any applicable fees.
- Use the app and services only for lawful purposes and in compliance with these
terms.
Prohibited Conduct:
- Use AyaLend to engage in fraudulent, illegal, or unauthorized activities.
- Attempt to hack, reverse-engineer, or interfere with the app's functionality.
- Misrepresent your identity or provide false information.
4.2 Financial Responsibilities
- Repayment: Failure to repay loans on time may result in additional
fees, credit reporting to the Ghana Credit Reference Bureau (CRB), and potential
legal action or debt collection.
- Accuracy: You are responsible for ensuring the accuracy of payment
account details to avoid delays or errors in loan disbursement or repayment.
5. Data and Privacy
5.1 Data Collection and Use
- We collect only necessary data (e.g., identity, emergency contacts, transaction
details).
- Data is used for KYC verification, credit assessment, loan management, and legal
compliance.
- We do not sell or share your data for marketing purposes without consent.
5.2 Your Consent
- By using our services, you consent to the data practices outlined in our Privacy
Policy. You may revoke non-essential data permissions at any time via
support@ayalend.com.
6. Termination and Suspension
6.1 Account Termination
- By You: You may terminate your account by contacting
support@ayalend.com, provided all loans are repaid and no outstanding obligations
remain.
- By Us: We may suspend or terminate your account if:
- You violate these terms or applicable laws.
- We suspect fraudulent or unauthorized activity.
- You fail to repay loans as agreed.
- Required by law or regulatory authorities.
6.2 Effects of Termination
- Upon termination, you must cease using AyaLend services.
- Any outstanding loans or fees remain due and payable.
- Data will be retained or deleted as per our Privacy Policy and legal requirements.
7. Limitation of Liability
7.1 Service Limitations
- As-Is Basis: AyaLend services are provided "as is" without
warranties of any kind, express or implied, including accuracy, reliability, or
fitness for a particular purpose.
- No Guarantee: We do not guarantee loan approval, uninterrupted
service, or error-free operation.
7.2 Liability Cap
- To the extent permitted by law, AyaLend, its affiliates, and partners are not liable
for:
- Indirect, incidental, or consequential damages (e.g., loss of profits, data, or
opportunities).
- Damages arising from your failure to comply with these terms or misuse of services.
- Issues beyond our control, such as internet disruptions or third-party payment
failures.
8. Intellectual Property
- Ownership: The AyaLend app, website, and related content (e.g.,
logos, designs, code) are owned by AVANÇA NA VIDA or its licensors and protected by
intellectual property laws.
- Limited License: You are granted a non-exclusive, non-transferable
license to use the app for personal, non-commercial purposes, subject to these
terms.
- Restrictions: You may not copy, modify, distribute, or
reverse-engineer any part of our services without written permission.
9. Dispute Resolution
9.1 Governing Law
These terms are governed by the laws of Ghana. Any disputes will be resolved in
accordance with Ghanaian law, subject to mandatory local regulations.
9.2 Resolution Process
- Informal Resolution: Contact us at support@ayalend.com to resolve
disputes informally. We aim to respond within 15 working days.
- Formal Disputes: If unresolved, disputes may be submitted to the
courts of Ghana or relevant regulatory bodies, such as the Bank of Ghana.
- Company Name: AVANÇA NA VIDA – SOCIEDADE DE MICRO CRÉDITO, LDA.
- Customer Support Email: support@ayalend.com
- Privacy Officer Email: dpo@avancanavida.co
- Address: P. O. Box 494, Weija-Accra, Ghana
- Working Hours: Monday to Friday, 09:00–18:00 (local time)
11. Miscellaneous
- Entire Agreement: These terms, along with our Privacy Policy and
loan agreements, constitute the full agreement between you and AyaLend.
- Severability: If any provision is found invalid, the remaining
provisions remain enforceable.
- No Waiver: Our failure to enforce any right does not waive that
right.
- Assignment: You may not assign your rights under these terms
without our consent. We may assign our rights to affiliates or successors.
