- Avoid companies not licensed by the Authority for this activity. For a list of licensed companies , visit the Authority’s website or call their customer service line
- Make sure you fully understand everything about the provided product or service, including terms and conditions, payment options, rescheduling conditions , privacy and confidentiality , all costs related to the product or service e.g. interest rate /cost of funds , application fees, release fee, other administrative costs
- Provide only credible and verifiable data to maintain trust
- Take your time to read every term of the contract thoroughly. Make sure you fully grasp what’s being agreed upon and that there is no room for misinterpretations. Most importantly, be confident you can meet all the requirements before committing
- Clients have the right to get clarifications on any item or term in the contract or any other document provided by the company. Finance company is there to answer your questions and ensure you understand the terms fully before signing
- Ask for a copy of the contract and any other documents you sign before finalizing anything.
- All parties involved in the contract are legally bound to fulfill their agreed-upon responsibilities
- Do not sign blank pages or security receipts for financing
- Avoid signing any forms that allow the company to freely use your personal and financial data
- Ask about any potential fees you might incur by opening an account or using their services.
- Don’t forget to ask for a receipt whenever you make a payment to the financial institution
- Check if the product or service matches the features and details you agreed upon in the contract
- You have to use the product or service following the guidelines laid out in the contract with the financial institution
- Follow the payment schedule outlined for your premiums to avoid any late fees
- As soon as your service period ends or you make an early payment, make sure to get your documents and guarantees from the company right away
- Make sure the person you’re dealing with is a legitimate employee of the financial institution before disclosing any personal or account information
- For any disputes with the company, utilize the designated channels for addressing concerns and finding a solution.
- Start by trying to resolve the issue directly with the company’s Complaints Department. If you’re unhappy with their response, you can then escalate your complaint to the Authority’s Complaints Department for further assistance
