- As a part of startup phase the company has restricted a product worth range to a maximum of Nu.100,000.00 (one hundred thousand ngultrums) with Nu.10,000.00 (ten thousand ngultrums) being minimum.
- As the company gains growth and maturity it would scale up its business with increased product worth and more client coverage.
- A client needs to first register (both walk-in and online) with the company.
- The marketing team then does product identification and availability.
- A client who passes screening processes is contacted in the next few days to complete the formalities.
- A client has options of paying any part of the cost of the chosen product depending on the paying capacity, with at least 10 % payment at the time of product delivery.
GUARANTORS
- Each client shall have two persons as guarantors.
- The guarantors shall abide by the legal terms and conditions of the company.
- The guarantors have to be able to prove their position to stand as surety on behalf of the client against the services availed from the company.
- In the event of client’s failure to repay, the guarantors shall be held responsible and the amount shall be recovered from the guarantors.
- A client shall pay the Equated Monthly Installment (EMI) within first week of the every following month.
- A client shall repay the Product Based Scheme (PBS) on Long Term Instalment (LTI) for a duration of one year.
- Follow up calls and reminder notification through email/WeChat messages/telephonic calls and written official notice shall be served to the client if the payment is due for two consecutive months.
- In the event of failure to pay the monthly EMI on specified time, the company shall prompt the concerned client or the guarantors to update EMI status.
- In the third month a defaulter shall be asked to submit the written explanation to the Legal section of the company before further legal proceedings are pursued.
- A penalty charge equivalent to prevailing government rate shall be charge for the late repayment.