Last Updated: 24/12/2024
Welcome to Iwacu Finance! These Terms and Conditions govern your use of our online services, including but not limited to the provision of guarantees for bidding on private and public tenders. By accessing or using our services, you agree to be bound by these Terms and Conditions. If you do not agree with any part of these terms, you must not use our services.
1.Introduction
Iwacu provides essential guarantees to support bids for private and public tenders. Our services include, but are not limited to, the following guarantees (collectively referred to as the **"Iwacu Finance Guarantees"**):
- - Bid Security Guarantees
- - Credit Line Guarantees
- - Performance Guarantees
- - Advance Payment Guarantees
These guarantees are designed to facilitate your participation in tender processes and ensure compliance with contractual obligations.
2. Eligibility
To use our services, you must:
- - Be a legally recognized entity or individual capable of entering into binding contracts.
- - Provide accurate and complete information during the application process.
- - Comply with all applicable laws and regulations.
3. Application Process
- Submission of Request: You must submit a request for the desired guarantee through our online platform, providing all required documentation and information.
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Evaluation: Iwacu reserves the right to evaluate your application and determine eligibility based on our internal criteria.
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Approval: If approved, the terms of the guarantee, including fees, duration, and conditions, will be communicated to you.
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Issuance: Upon acceptance of our terms and payment of the applicable fees, the guarantee will be issued within 48 hours, excluding weekends (Saturday and Sunday).
4. Fees and Payment
- - Fees for guarantees are determined based on the type of guarantee, the value of the tender, and other relevant factors.
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- Payment must be made in full before the issuance of any guarantee.
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- All fees are non-refundable unless otherwise stated in writing.
5. Obligations of the Client
By using our services, you agree to:
- - Provide accurate and truthful information at all times.
- - Comply with the terms of the guarantee issued.
- - Notify Iwacu immediately of any changes in circumstances that may affect the guarantee.
- - Repay any amounts claimed under the guarantee promptly and without delay, immediately upon demand by the tender issuer or in the event the guarantee is recalled.
6. Iwacu Finance Guarantees
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-**Bid Security Guarantee:** Ensures that you will honor your bid and enter into the contract if awarded.
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-**Advance Payment Guarantee:** Secures the repayment of any advance payments made by the tendering authority.
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-**Credit Line Guarantee:** Provides assurance of financial support for your project or tender.
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-**Performance Guarantee:** Ensures the satisfactory completion of the contract as per the agreed terms.
7. Limitation of Liability
- - Iwacu shall not be liable for any indirect, incidental, or consequential damages arising from the use of our services.
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- Our liability is limited to the value of the guarantee issued.
8. Termination
Iwacu reserves the right to terminate or suspend your access to our services at any time, without notice, for any reason, including but not limited to:
- - Breach of these Terms and Conditions.
- - Non-payment of fees. -Fraudulent or illegal activities.
9. Governing Law
These Terms and Conditions shall be governed by and construed in accordance with the laws of [Insert Jurisdiction]. Any disputes arising from these terms shall be resolved exclusively in the courts of [Insert Jurisdiction].
10. Amendments
Iwacu reserves the right to modify these Terms and Conditions at any time. Any changes will be effective immediately upon posting on our website. Your continued use of our services constitutes acceptance of the revised terms.
11. Contact Us
If you have any questions or concerns about these Terms and Conditions or our services, please contact us at:
- - **Email:** [info@iwacufinance.com]
- - **Phone:** [+250 788 376 370]
- - **Address:** [KBC, KN 3 AVE, Kigali]
By using Iwacu's online services, you acknowledge that you have read, understood, and agreed to these Terms and Conditions.
