THIS AGREEMENT witnesseth as follows:
a) The Financier (herein after referred to as “Ngao Credit” Limited or “NCL” is a non-deposit taking Microfinance company in the business ofoffering loans against logbooks and offers insurance premium financing to its customers.
b) The Insurance company (hereinafter referred to as the “Insurer”), in consideration of premium payments, provides cover for its clients’ (herein after referred to as the “insured” or “Borrower”) assets against financial loss & legal liability arising from accidental damage, fire, theft and malicious damage.
c) The Insurance Brokers/Agents (herein after referred to as “Insurance Broker”) will negotiate, procure and place insurance coverage for assets on behalf of the insured with the insurer.
d) The Borrower has entered into and insurance premium financing arrangement with the Financier, hereinafter also referred to as “IPF”, “IPFfacility” or the “IPF facility Account” in order to finance the premiums payable under the policy.
e) ‘Claim Repairs’ means a claim/ financialloss & legal liability on the insured’s asset or motor vehicle arising from accidental damage, fire, theft, malicious damage, Act of God or any other cause covered by the insurance cover purchased by the insured in which case the Asset or the Motor Vehicle can be repaired.
f) ‘Claim (Write off)’ means a claim/financial loss & legal liability arising from the total loss of the value of the asset or the motor vehicle arising from accidental damage, fire, theft, malicious damage, Act of God or any other cause covered by the insurance cover purchased by the insured.
g) ‘Claim’ means either a claim repairs or claim (write off) as described hereinabove.
h) ‘Motor Vehicle’- includes but shall expressly be taken to exclude all Public Service Vehicles (PSV), cars, buses, motorcycles, tuk-tuks, trucks, light trucks unless otherwise agreed upon by the parties herein i) ‘Policy/Cover’ means an insurance contract between the insured and the Insurer through which the Insured’s asset is covered against any losses arising from accidental damage, fire, theft, malicious damage, Act of God or any other cause stipulated in such a contract.
j) “This Agreement” refers to Terms and Conditions set out herein under in this agreement and all associated agreements NCL has agreed with the Insurer to provide the IPF facility on the terms set out in this Agreement k. “Accompanying Logbook/Secured Facility, “Associated Logbook/Secured Facility” means a loan, different from the IPF Facility being secured against the same vehicle that the IPF Facility has been issued against
1. Insurance Premium Facility Charges
The Borrower hereby Covenants and Agrees:
1.1 To pay NCL, punctually the monthly instalments specified by NCL. The first instalment being 20% of the premium amount shall be paid as the deposit to NCL upon the signing of this Agreement and Subsequent instalments shall be payable monthly in advance.For avoidance of doubt, if the 20% deposit is capitalized on the Accompanying Secured facility, the Borrower shall be expected to pay the 20 deposit plus the instalment amount of the first month within thirty (30) calendar days.
1.2 The 20% deposit may be deducted from or added/capitalized to the Logbook Loan Facility (LBL) or any other accompanying secured facility being taken co-currently with the IPF facility on the same motor vehicle for which the IPF facility is being issued against solely at NCL’s discretion and the terms and conditions of the associated secured facility shall prevail. In the case that the 20% deposit is capitalized n the associated secured facility, the Borrower will be required to settle this amount within thirty (30) days from its application.
1.3 To pay a total interest chargeable on the IPF Facility of 2% per month, at a flat rate basis, onthe principal loan amount plus capitalized fees for the applied loan term.
1.4 To pay Processing Fees of 3% on the principal loan amount of the IPF Facility
1.5 To pay to NCL Kenya Shillings four thousand (KShs.4,000.00) for any dishonoured cheque in addition to any other applicable costs that NCL may incur thereon Inclusive of but not limited to a late penalty fees of 8.5% of the outstanding instalment amount which shall be charged immediately upon default and every fourteen (14 days) thereafter until the outstanding amount is fully settled.
1.6 Warrants that the policy is valid and shall remain valid throughout the course of the Borrower’s indebtedness with NCL. The Borrower shall not cancel the policy without NCL’s consent ordo any act or commit any default thereby. Wherebythe policy may become void or voidable or whereby an increased premium or charge may become payable (unless the Borrower promptly pays the additional charge or premium to the insurer) provided that in case of default by the Borrower on any of the Borrower’s obligations herein it will be lawful but not obligatory for NCL to do whatever it may deem necessary to make good such defaultand any money expended by NCL in that behalf with interest as provided above shall be debited in the account and shall be repaid by the Borrower on demand. The provisions of this sub-clause shall be without prejudice to NCL’s rights set out hereunder.
2. Client Onboarding – Application
The Borrower Hereby agrees that he/she:
2.1 Shall apply for the IPF Facility through filling a physical application form or electronically via a mobile app, USSD, website form, email,WhatsApp or any other means deemed viable by NCL
2.2 At his/her own expense, shall provide and maintain in safe application and efficient operating order his/her mobile phone handset, computer, SIM Card and/or other equipment (“Equipment”) which when used together enables him/her to apply for the insurance premium finance facility (“Facility”) from NCL and pay the specified monthly instalments.
2.3 Shall be responsible for ensuring the proper performance of the Equipment. NCL shall neither be responsible for any errors or failures caused by any malfunction of the Equipment, and nor shall NCL be responsible for any computer virus,malicious code, program /or any other purpose or related problems that may be associated with the use of the Equipment. Any charges due to anymobile money services provider, providing money transfer services for payment of the monthly instalments shall be charged on his/her IPF Facility Account
2.4 Agrees that he/she shall be solely responsible for the safekeeping and proper use of the Equipment and for keeping his/her login credentials including PINs and passwords (“Credentials”) secret and secure. NCL shall not be liable for any disclosure of the Credentials to any third party and the Borrower hereby agrees to indemnify and hold MCLNCL harmless from any losses resulting from any such disclosure.
2.5 Shall take all reasonable precautions to detect any unauthorized use of the Equipment and immediately inform NCL in the event that:
2.5.1 he/she ha s reason to believe that the Credentials have been compromised; and/or
2.5.2 he/she has reason to believe that unauthorized or fraudulent use of the Equipment or the Facility account has or may have occurred or could occur; and
2.5.3 he/she has reason to believe that fraud has or may have occurred or could occur.
2.6 Shall not at any time operate or use the Facility in any manner that may be prejudicial to NCL.
2.7 Shall bear the sole responsibility of the Borrower to undertake a logbook transfer to himself/herself if need be during his of her onboarding to the IPF Facility, keep it under his/her name during the tenure of the IPF facility and after the IPF Facility tenure and that NCL shall bear no liability on any eventuality resulting from the Borrower’s failure to fulfil this obligation
3. Client Onboarding – Valuation
In the circumstance where the insurer shall require the Borrower to procure a new valuation to facilitate the provision of the IPF facility by NCL, the Borrower Covenants and agrees:
3.1 To procure a valuation within fourteen (14) days of receiving a valuation request note from NCL, failure to which the insure may downgrade the particular policy or cancel it absolutely.
3.2 That where the valuation report reveals that the quote previously issued by the insurer is higher than the actual value of the motor vehicle the difference realized will be appropriated by NCL to offset the loan amount payable.
3.3 To make a 20% deposit payment on the excess amount if the quote previously issued by the insurer is found to be lower than the actual value of the vehicle as indicated in the valuation report. Further, the Borrower agrees to pay the excess amount together with the succeeding monthly instalments.
3.4 That it shall be the sole responsibility of the Borrower to ensure that the valuation of the vehicle is done in a timely manner and that NCL shall bear no liability on any eventuality resulting from the Borrower’s failure to fulfil this obligation.
4. Cancelation/Termination of Policy and Refund of Premiums
The Borrower hereby:
4.1 Appoints NCL to be his attorney and in his name and on his behalf, to execute and do any assurances, acts and things which the Borrower ought to execute and do under the policy including without limitation the power to terminate the policy and to give good receipt and discharge thereof for the refund of the premium amount or any part thereof received by the insurer by the Borrower on such termination or for any settlement paid under the policy and the Borrower hereby ratifies all acts or deeds done by NCL in exercise of the power herein conferred and absolves from blame any and all parties giving effect to such power
4.2 Authorizes NCL to execute, conduct any assurances, terminate the policy, to give receipt and discharge amount or any part received by the Borrower upon termination or settlement paid under the policy on his behalf. The Borrower further agrees that any premium or part of premium refunded or any settlement paid to NCL will first be applied towards redeeming the Account and the balance [if any) thereafter released to the Borrower.
4.3 That in the event of any default as provided clause 9 hereunder, NCL may cancel the policy within fourteen (14) calendar days after issuance of notice to cancel the policy to the insurer and request a refund of the unutilized premium from the insurer
4.4 NCL may upon notice to the Borrower and Insurer, terminate or vary its relationship with the Borrower and Insurer.
4.5 NCL may cancel advances which it has granted and require the repayment of outstanding debts resulting therefrom, upon issuance of fourteen (14) days’ notice.
4.6 Agrees that If the insurance cover is terminated, either by NCL or the Borrower, NCL will take possession of any refund of premiums either from the Insurer or the insurance broker and apply such refund in the first instance in paying the balance of the loan then account for the surplus (if any) to the Borrower.
4.7 Agrees that termination of this Agreement shall not absolve the Borrower from liability to NCL for any amounts outstanding amounts due on the account inclusive of late payment charges as hereinbefore specified until full settlement of the IPF Facility.
4.8 Agrees that the outstanding balance on the IPF facility shall immediately become due and be payable on demand by NCL the Borrower is in default of any of the Borrower’s obligations hereunder or under the policy or if winding up or a petition for Bankruptcy is filed against thereon at the rate specified in clause 1 above from the date of demand
4.9 Agrees that if it becomes illegal for NCL or the Borrower to continue with the present IPF Facility arrangement or if there are circumstances which in the sole opinion of NCL may have a material adverse effect on the ability of the Borrower to perform the Borrowers obligations hereunder or under the policy, NCL shall be at liberty, upon making the formal demand as aforesaid, to terminate the policy forthwith and to receive refundable premium (if any) from the Insurer.
4.10 Agrees that NCL shall also be entitled to recover the outstanding balance (if any) in the account, Account interest and charges from the Borrower by summary procedure as a liquidated debt. A statement or certificate of NCL as to the amount outstanding shall in absence of manifest error be binding and conclusive as against the Borrower.
4.11 Authorizes and instructs the insurer hereby, through the signing of the Umbrella Agreement between the Insurer and NCL, to register NCL’s right to terminate the policy and receive the refund on the premium amount.
4.12 Further covenants that he shall ensure that the insurer complies with the aforesaid authorization as set out in clause 3.8 above, and shall hold any monies payable to the Borrower under the policy payment by the insurer in trust for NCL or shall immediately upon receipt surrender such monies to NCL to be credited to the IPF Facility Account This obligation shall subsist until NCL confirms in writing that the account has been redeemed in full.
4.13 Undertakes to pay all stamps duty and other duties and taxes (if any) to which this Agreement or any other document executed pursuant to this Agreement may be subject to (which duties and taxes will be debited to the IPF Facility account) and the Borrower further undertakes to reimburse NCL on demand all expenses including legal expenses incurred by NCL in negotiation and preparation of this Agreement and all expenses incurred by NCL in suing for or recovering any sum due to NCL under this Agreement or otherwise in protecting or enforcing its rights under this Agreement. The charges herein shall also apply to any legal or recovery fees in relation to the account. The applicable legal fees shall be as provided for in the Advocates Act, Chapter 16 and or Auctioneers Act, Chapter 526 and other laws) that shall be applicable from time to time.
4.14 Agrees to execute in favor of NCL by way of security to NCL, a legal assignment or mortgage over the policy or cede the policy upon request by NCL at the Borrower’s cost and further undertakes to meet all costs and expenses including the legal fees payable as a result of this
4.15 Confirms that no failure or delay by NCL in exercising any right power or privilege under this Agreement shall impair the same or operate as a waiver for the same nor shall any single or partial exercise of any right power or privilege preclude any further exercise of the same or the exercise of any other right power or privilege.
4.16 Warrants to NCL that the Borrower has the power to enter into the transaction contemplated by this Agreement and that neither the execution hereof nor the performance or observance of the Borrower’s obligations hereunder will conflict with or result in any breach of any law, regulation, mortgage agreement or other instrument whatsoever.
4.17 Commits to provide all documents and/or information that NCL will find necessary for the purposes of/connected to this Agreement. 4.18 In addition to the other grounds of termination provided in this Agreement, NCL may terminate this Agreement if:
4.18.1 NCL is required to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority; or
4.18.2 NCL reasonably suspects or believe that the Borrower is in breach of the terms of this Agreement (including non-payment of any loan amount due from the Borrower where applicable) which he/she fail to remedy (if remediable) within seven (7) days after the service of notice by email, SMS or other electronic means requiring him/her to do so.
4.19 Agrees that Upon the write-off or sale of an logbook loan or any other secured facility accompanying the IPF facility, NCL shall cancel the policy and request for a refund from the insurer
5. Reinstatement of the Policy Cover
5.1 A Borrower may request for reinstatement of the policy within five working days upon receipt of the notice of cancellation of policy from NCL.
5.2 Reinstatement can only be made once within the loan period.
5.3 Reinstatement is only applicable to facilities that have two (2) or more months remaining before coming to an end.
5.4 Reinstatement will not be applicable where a refund has been processed and paid to NCL by the Insurer.
5.5 For a request for reinstatement to be considered by NCL, the borrower must fulfil the following conditions: Borrower must pay a reinstatement fee of KES 1,000.
5.6 the Borrower must regularize and pay all outstanding payments on his account includingb instalments in arrears, late payment charges and any other charges advised by NCL
5.7 the Borrower must also pay the next/subsequent instalment in advance.
6. Claims Processing and Management:
6.1 Where a claim arises, including but not limited to an accident happening before the borrower has fully serviced the loan, the borrower undertakes to service the loan and settle it fully. If the Borrower is unable to clear the outstanding balance as herein stated, claim proceeds from the insurer shall be utilized by NCL to settle any outstanding IPF Facility balance. NCL reserves the right to cancel the insurance cover and demand for a refund from the Insurer if the claim investigations or settlement goes beyond thirty (30) days or is declined.
6.2 If the Borrower or the Insurance Broker acting on its behalf makes a claim in respect of the policy(ices)) herein, then NCL shall at any time before the IPF facility has been repaid in full to NCL, take possession from the Insurer or the Insurance Broker the claim proceeds and utilize then same for the payment of the balance of the IPF Facility together with any interest due before releasing to the borrower any available surplus.
6.3 In the event of a Claims write off/total loss of the asset insured, the Borrower shall receive the final settlement (discharge amount) only after the Insurer has deducted any amounts due to NCL including the full credit charge and/or late payment charges.
6.4 NCL shall endeavour to process claims within thirty (30) days , however, it shall not be liable for any losses or damages suffered by the Borrower as a result of the extension of this period of time due to factors beyond NCL’s control.
7. Business Procured Through Insurance Broker
7.1 For Insurance procured through a broker, The Borrower hereby authorizes the Insurance Broker to:
7.1.1 forward NCL the original policy documents referred to herein upon its request if such policy/policies are held by the Insurance Broker.
7.1.2 instruct the broker to cancel the said policy((ies) and to remit to NCL any part of the premium(s) payable thereunder refunded by the Insurer
7.1.3 inform NCL of any claims pending under the said policy(ies) the progress and outcome of such claims and remit to NCL such portion of these claims as NCL May require; and
7.1.4 inform NCL of the cancellations of the policy(ies) and remittance of the premium any part of the premium(s) payable by the Insurer.
7.2 The authorization to the Insurance Broker in terms of this clause is irrevocable and shall apply until the Insurance Broker receives a notification from NCL that all sums due to it in respect of the policy have been paid in full.
8. Policy Renewal
8.1 Upon the expiry of any insurance cover, the Borrower shall within seven (7) days of such expiry deliver to NCL the relevant renewal advise failure to which NCL shall renew such insurance through its insurance brokers at the Borrower’s cost and further credit Borrower’s account with the amount paid by NCL
9. Specific events of Default
Default shall be deemed to have occurred if:
9.1 the Borrower fails to remit one of any the IPF Facility’s monthly instalments on the respective due date.
9.2 the Borrower has an existing Logbook loan (LBL) facility, asset finance facility or any other Secured facility running simultaneously with the IPF Facility and fails to remit one of any monthly instalments on their due date for the IPF Facility. In the following circumstance, any subsequent payment made by the Borrower regardless of whether the payment was meant for the secured facility or any other facility at NCL apart from the IPF facility, shall be channelled to offset any outstanding IPF facility amounts until such amounts are fully settled.
9.3 the Borrower uses the Facility for unauthorized or unlawful purposes or where we detect any abuse/misuse, breach, fraud or attempted fraud relating to the Facility
9.4 Further to clause 9.2 above, upon sale of a motor vehicle in a circumstance/during a time that the accompanying IPF facility is still outstanding, the recovered amount from the sale of such motor vehicles shall first be used to settle the IPF amount in arrears before being used to settle any other amount in arrears up to and including the outstanding amount from the accompanying secured facility.
9.5 If the Borrower requests to pay off the accompanying secured facility and the IPF facility is outstanding, he/she shall be required to first settle the accompanying IPF facility before theaccompanying secured facility payoff is processed
The Borrower agrees and consents that NCL may:
10.1 Disclose information in its possession relating to this Agreement to its authorized agentsfor purposes of managing the Borrower’s IPF facility account. close any information in its possession of NCL relating to this Agreement and the Borrower’s account to authorized third parties including but not limited to credit reference agencies pursuant to the laws of Kenya.
10.3 disclose any information relating to this Agreement including details of the Borrower to authorized third parties for the purpose of evaluating the applicant(s)’ credit worthiness for any other lawful purpose.
10.4 obtain any information relating to the Borrower from any third party including licensed credit reference for purposes of evaluating the Borrower’s application.
10.5 disclose any information in its possession relating to this application including account details of the Borrower to authorized parties or institutions the laws of Kenya in compliance with its obligations; and
11.1 Any notice from the NCL shall be sent to the last postal or email address provided by the Borrower. Any written communication from NCL to the Borrower
11.2 shall be deemed to have been received if delivered personally to the Borrower or sent by post to the address provided by the Borrower and be deemed to have been received if it was sent by post to the provided communication channels details and NCL shall not be liable for:
11.2.1 damage resulting from losses, delays, or any other irregularities due to transmission of any communication whether to or from the Borrower, NCL or any third party; and
11.2.2 the failure of the receipt of any communication by the Borrower or unauthorized exposure of such communication to third parties where the Borrower fails to provide accurate details of their email and or postal address.
12. Joint and Several Liability:
Where there is more than one Borrower, they shall be jointly and severally liable for the payment of all dues payable under this Agreement.
13. Validity of Documents:
The Borrower shall ensure that all documents submitted to NCL are authentic and valid.
14. No Waiver:
No relaxations, delays or indulgence on the part of NCL in exercise of any of its rights under this Agreement shall operate as a waiver of such rights.
15. Governing Law and Jurisdiction
This Agreement shall be governed and construed in accordance with the laws of Kenya. Both Parties consent to the exclusive jurisdiction of the courts of Kenya to settle any issue, dispute, claim, controversy, difference, question or claims for compensation or otherwise, between them and waive any right to challenge jurisdiction or venue in such courts with regard to any suit, action, or proceeding under or in connection with this Agreement.
16. Exclusion of Liability
16.1 NCL shall not be responsible for any loss suffered by the Borrower should the Facility be unavailable or be delayed by reason of the failure of any of the Borrower’s Equipment, or any other circumstances whatsoever not within NCL’s control including, without limitation, Force Majeure or error, interruption, system downtime, delay or nonavailability of the NCL’s 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.
16.2 NCL will not be liable for any losses or damages suffered by the Borrower as a result of or in connection with:
16.2.1 the Borrower’s failure to give proper or complete instructions or information relating to the Facility;
16.2.2 any negligent act, fraud, recklessness, carelessness, default, misconduct or breach of the law or breach of the terms of this Agreement by the Borrower.
16.2.3 any fraudulent or illegal use of his/her Equipment; or
16.2.4 the Borrower’s failure to comply with the terms of this Agreement and information provided by us concerning the Facility,
16.3 during the upgrade or downgrade of the insurance cover financed from a third party to a Comprehensive cover or vice versa respectively.
16.4 as a result of a change of usage or policy of the motor vehicle by the Borrower without prior written consent of NCL e.g. PSV to Private;
16.5 as a result of the Borrower rescinding instructions that have already been transmitted to the Insurer by NCL;
16.6 as a result of suspension of the policy by NCL and/or Insurer where the Borrower requests NCL and/or the Insurer to suspend the policy, including any claim that arises immediately following the receipt of the request to suspend by NCL and/or the Insurer;
16.7 as a consequence of prolonged investigations into the authenticity and validity of a claim or prolonged processing of a claim by the Insurer or the denial of a claim by the Insurer for whatever reason; and
16.8 as a result of the termination of the insurance policy either by the Insurer for whatever reason, the regulator or an order of the court.
16.9 Under no circumstances shall NCL be liable to the Borrower 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 Facility even where the possibility of such loss or damage is notified to NCL.
16.10 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.
17.1 In consideration of NCL complying with the Borrower’s instructions or requests or offers in relation the Facility, the Borrower undertakes to indemnify NCL and hold it harmless against any loss, charge, damage, expense, fee or claim which NCL suffers or incurs or sustains thereby and the Borrower absolves NCL from all liability for loss or damage which he/she may sustain from NCL acting on the Borrower’s instructions or requests or offers or information provided by him/her or in accordance with the terms of this Agreement.
17.2 The indemnity in clause 17.1 shall also cover:
17.2.1 all demands, claims, actions, losses and damages of whatever nature which may be brought against NCL or which it may suffer or incur arising from its acting or not acting on the information provided by the Borrower 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 NCL’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 the application received by NCL;
17.2.2 any loss or damage that may arise from the Borrower’s 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.
17.2.3 any unauthorized access to the Borrower’s Equipment or any breach of security or any destruction or accessing of his/her data or any destruction or theft of or damage to any of the Equipment.
17.2.4 any loss or damage occasioned by the failure by the Borrower to adhere to the terms of this Agreement 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 NCL as a consequence of any breach by the terms of this Agreement; and
17.2.5 any damages and costs payable by NCL in respect of any claims against NCL for recompense for loss where the particular circumstance is within the Borrower’s control.
18 Binding and Dispute Resolution
This Agreement shall be binding upon execution/acceptance by all the parties herein Acceptance: I/we have read and understood the terms of the Agreement governing the Insurance Premium Financing Facility offered by NCL.
I/we agree that the Facility shall be granted solely at the discretion of NCL and shall indemnify NCL at my/our cost against any loss or claim arising in relation to this Facility.
I/we confirm that the above information is correct and true.
I/we hereby accept them and will abide by them. I/we further confirm that I/we have received all the information pertaining to the Facility. I/we have independently verified the terms of the Agreement noted above and where necessary I/we have consulted persons independent from NCL’s officials.
I/we understand that NCL reserves the right to decline this application without giving reasons
- REPRESENTATION AND WARRANTIES
- 1. The Borrower represents and warrants that the information and/or data provided to the Lender prior to executing this Agreement is and continues to be accurate and complete as of the date of executing this Agreement.
- 2. The Borrower is responsible for providing the Lender with complete, accurate, and timely information necessary for the Lender to provide Services and fulfill its responsibilities. The Borrower further agrees that they shall promptly notify the Lender at any time they discover any inaccuracies or discrepancies on the data shared and that they shall continuously update the Lender of any changes on such information from time to time.
- 3. The Lender shall not be held liable for the failure of delivery or receipt of communication by the Borrower and/or exposure of such communication to third parties where: –
- a. the Borrower fails to provide accurate details of their email and postal addresses, physical address and phone numbers and any other contact details
- b. the Borrower fails to update relevant address and/or contact details
- c. the exposure is beyond the control of the Lender such as through malicious or unintended access by unauthorized third parties to whom the address provided does not belong
- d. the contact details are shared to the Borrower by unauthorized third parties.