Terms of Service

1. Introduction

These Terms of Service ("Terms") govern your access to and use of the website, online portal, and related services (collectively, the "Services") provided by Richmond Finance Limited ("Richmond Finance", "we", "us", or "our"), a Zambian private company limited by shares, with its registered head office at 4th Floor Telecom House, Rhodes Park, Lusaka, Zambia.

By accessing or using our Services, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use our Services.

2. Definitions

In these Terms, the following definitions apply:

• "Client" means any individual or entity that has entered into a loan agreement, insurance arrangement, or advisory engagement with Richmond Finance.
• "User" means any person who accesses or uses the Services, whether or not they are a Client.
• "Portal" means the secure online client portal accessible through the website, which allows registered users to manage their accounts, submit loan applications, and view statements.
• "Content" means all text, images, data, documents, and other materials available through the Services.

3. Our Services

Richmond Finance provides financial services including, but not limited to:

• Personal and business lending, including equity release loans, payroll-based loans, and civil servant lending schemes;
• Insurance brokerage services, including motor, property, health, travel, and agricultural equipment insurance;
• Strategic advisory services, including company formation, business expansion guidance, and regulatory navigation;
• Online account management through the Client Portal.

All lending products are subject to credit assessment, due diligence, and approval by Richmond Finance in accordance with the Banking and Financial Services Act of Zambia and applicable regulations issued by the Bank of Zambia.

4. Account Registration and Security

To access certain features of the Services, you may be required to create an account. When registering, you agree to provide accurate, current, and complete information and to update such information to keep it accurate, current, and complete.

You are responsible for safeguarding your account credentials and for all activities that occur under your account. You must immediately notify Richmond Finance of any unauthorised use of your account or any other breach of security by contacting us at [email protected].

Richmond Finance reserves the right to suspend or terminate your account if any information provided is found to be inaccurate, misleading, or incomplete, or if your account is used in violation of these Terms.

5. Loan Applications and Agreements

Submitting a loan application through the Services does not guarantee approval. All applications are subject to Richmond Finance's standard credit assessment, due diligence procedures, and internal approval processes, which may include verification of identity, employment, income, collateral, and creditworthiness.

Approved loans are governed by the specific Loan Agreement executed between you and Richmond Finance, which sets out the principal amount, total cost of the loan, repayment schedule, collateral requirements, and other material terms. In the event of any conflict between these Terms and a specific Loan Agreement, the Loan Agreement shall prevail.

Where property is used as collateral, the applicable security documents (Memorandum of Deposit or Mortgage Deed, as determined by the facility amount) shall form part of the loan documentation and are legally binding upon execution.

6. Fees, Charges, and Payments

All fees, interest rates (referred to as "Total Cost of Loan"), and charges applicable to our financial products are disclosed in the relevant Loan Agreement or product documentation prior to execution. Richmond Finance is committed to transparency in all fee structures.

Payments must be made in accordance with the agreed repayment schedule. Late payments may incur penalty charges as specified in your Loan Agreement. Richmond Finance reserves the right to pursue all available legal remedies for the recovery of outstanding amounts, including but not limited to enforcement of security interests over collateral.

All amounts are denominated in Zambian Kwacha (ZMW) unless otherwise specified in writing.

7. Insurance Brokerage Services

Richmond Finance acts as an insurance broker and intermediary. Insurance policies are underwritten by third-party insurance providers. Richmond Finance does not itself underwrite insurance risk. The terms, conditions, and coverage of any insurance policy are determined by the relevant underwriter, and Richmond Finance shall not be liable for any claim, loss, or damage arising from the terms of such policies.

It is your responsibility to review and understand the terms of any insurance policy before purchase. Richmond Finance will provide guidance and recommendations, but the final decision to purchase any insurance product rests with you.

8. Intellectual Property

All Content, trademarks, logos, and intellectual property displayed on the Services are the property of Richmond Finance Limited or its licensors and are protected by the laws of the Republic of Zambia and applicable international intellectual property laws. You may not reproduce, distribute, modify, or create derivative works from any Content without the prior written consent of Richmond Finance.

9. User Conduct

When using the Services, you agree not to:

• Provide false, misleading, or fraudulent information in any application or communication;
• Use the Services for any unlawful purpose or in violation of any applicable law or regulation;
• Attempt to gain unauthorised access to any part of the Services, other accounts, or computer systems;
• Interfere with or disrupt the integrity or performance of the Services;
• Upload or transmit viruses, malware, or any other harmful code;
• Use the Services to harass, abuse, or harm another person or entity.

10. Confidentiality

All information, documents, and materials provided through the Services are the property of Richmond Finance Limited and are intended for the sole use of the intended recipients. Such materials should be treated as confidential and proprietary information and may not be reproduced, forwarded, or used in any form or medium without express written permission from Richmond Finance.

11. Limitation of Liability

To the fullest extent permitted by the laws of the Republic of Zambia, Richmond Finance shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, or business opportunities, arising out of or in connection with your use of the Services.

The Services are provided on an "as is" and "as available" basis. Richmond Finance makes no warranties, express or implied, regarding the accuracy, completeness, reliability, or availability of the Services or any Content therein.

Nothing in these Terms shall exclude or limit liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded or limited under applicable law.

12. Indemnification

You agree to indemnify, defend, and hold harmless Richmond Finance, its directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or in connection with your use of the Services, your violation of these Terms, or your violation of any rights of a third party.

13. Termination

Richmond Finance may suspend or terminate your access to the Services at any time, with or without cause, and with or without notice. Upon termination, your right to use the Services will immediately cease. Any provisions of these Terms that by their nature should survive termination shall survive, including but not limited to confidentiality, limitation of liability, and indemnification.

Termination of your access to the Services does not affect any existing Loan Agreement or other contractual obligations between you and Richmond Finance, which shall continue in accordance with their respective terms.

14. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Republic of Zambia. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of the Republic of Zambia.

Before initiating any legal proceedings, the parties agree to attempt to resolve any dispute through good faith negotiation. If the dispute cannot be resolved through negotiation within thirty (30) days, either party may pursue formal legal remedies.

15. Amendments

Richmond Finance reserves the right to modify these Terms at any time. Any changes will be effective immediately upon posting on the website. Your continued use of the Services after any such changes constitutes your acceptance of the revised Terms. We encourage you to review these Terms periodically.

16. Contact Information

If you have any questions or concerns about these Terms, please contact us: