These “Terms and Conditions” are applicable to all Users of “PakCredit”, an online mobile application owned, operated and managed (with all associated rights reserved) by Visioncred Financial Services (Private) Limited.

Visioncred Financial Services (Private) Limited is a non-banking finance company duly incorporated and licensed to provide investment finance services by the Securities and Exchange Commission of Pakistan, holding Corporate Unique Identification (CUI) No. 0215398 and license No. SECP/LRD/97/VFSL/2022-86, and having its registered office at 1st Floor, The Hive, Manzoor Plaza, Blue Area, 14E, G-6/2, Islamabad, Pakistan (hereinafter referred to as “PakCredit” or “Lender”).

The Lender shall provide nano and micro digital lending services, i.e., the Finance (as defined below) and other ancillary services to be availed by a User (the “Services” ) within the territorial jurisdiction of Pakistan to persons that are citizens and/or residents of Pakistan.

The Lender’s Services will be made available through the application that is available for mobile devices with the Android/iOS operating system (hereinafter the “Application” ).

These Terms and Conditions constitute a legally binding agreement between the Lender and the User (each as defined below). These Terms and Conditions shall become effective upon a User creating a user account on the Application.

A User may not create a user account without accepting and agreeing to be bound by these Terms and Conditions. If you are under eighteen (18) years of age, you may not use the Application or avail by of the Services.

Thus, for a better understanding of the User, we have made the following Terms and Conditions available.

1.1All use of the Lender’s Services and products, and the terms of access and usage of the Application are subject to the terms and conditions set forth below. Access to or use of any of the Lender’s Services or products via the Application constitutes the User’s acceptance of, and agreement to abide and be bound by, these Terms and Conditions (whether or not expressly accepted). The User, by creating a user account, signing up for any services or otherwise using or availing any services or products on the Application, shall be deemed to have read, understood and agreed to be bound by these Terms and Conditions.

1.2The Lender may amend these Terms and Conditions at any time without prior notice by posting the amended terms and conditions on its website or by updating the terms of its Application. Such revised or updated terms and conditions shall become effective at the time they are notified or uploaded on the Application.

1.3The User shall be required to accept such revised or updated terms and conditions in order to continue to avail any services or products from the Lender.

1.4If the User does not accept or agree to be bound by these Conditions, the Lender shall be entitled to: (i) immediately terminate the loan agreement, (ii) discontinue or suspend providing you any Services, (iii) deny you access to the Application; and/or (iv) exercise any other remedy it may deem appropriate. Such termination of the loan agreement, discontinuation or suspension of any Services or denial of access shall be without prejudice to all rights, titles and interests of the Lender which have arisen or accrued against you prior to such action.

2.1In these Terms and Conditions, the following capitalized terms shall have the meanings given to them as under (unless the context otherwise requires):

a.“Applicable Laws” means all statutes, ordinances, regulations, rules or orders of any kind whatsoever of any Governmental or regulatory authority that may be in effect from time to time and applicable to the relevant activities contemplated by these Terms and Conditions.

b.“Finance” any form of finance permitted to be provided by the Lender in accordance with the terms of its license and the terms of any Applicable Laws, which may from time to time be made available to the User via the Application on such terms and in such amounts as shall be determined by the Lender in its absolute discretion after a User makes a formal application.

c.“Intellectual Property” means patents (including reissues, divisions, continuations and extensions thereof), utility models, registered and unregistered designs, copyrights, database rights, registered and unregistered trademarks, trade names and any other form of protection afforded by law to inventions, marks, models, designs, software, goodwill, trade secrets or information (including technical or confidential information), in any form, and applications thereof, and shall include without limitation, any inventions, discoveries, formulas, know-how, processes, business methods, patents (including reissues, divisions, continuations and extensions thereof), utility models, registered and unregistered designs, copyrights, database rights, registered and unregistered service marks, trademarks, trade names and any other form of protection afforded by law to inventions, marks, models, designs, software, source codes, software code (regardless of its form), user documentation, technical documentation, data, carriers of data and/or software, plans, goodwill, trade secrets or information (including technical or confidential information), in any form, improvements and/or applications, and deprecated or future versions thereof.

d.“Operative Account” or “account" means the user online account maintained by the User with PakCredit for the purposes of availing any Services.

e.“User” means any person who has registered and maintains an active user account with PakCredit (also referred to as “customer” or “you”).

f.“Terms and Conditions” means these terms and conditions for creating, maintaining and utilizing a User account with PakCredit as such terms and conditions may be amended or replaced by PakCredit from time to time.

2.2Having read and understood each of the Terms and Conditions, the User expresses his total acceptance and subjection to any obligation of and derived from them, when using the Application.

2.3Through these terms and conditions, the User expressly authorizes PakCredit to carry out research on credit behavior in the credit information companies or any other relevant body.

2.4The User knows the nature and scope of the information that will be requested, the use that will be given to it and that periodic inquiries of the credit history can be made.

2.5Thus, through the acceptance of these Terms and Conditions, they will be valid from the time of their acceptance until the legal relationship subsists, for which the User accepts that said document remains as property of PakCredit for purposes of control and compliance with applicable laws and rules.

2.6The parties agree that the User may express their consent regarding the terms and conditions, as well as have access to the services offered by PakCredit, through electronic means which inter alia include OTP.

2.7No failure by either Party to insist upon the strict performance of any covenant, duty, agreement or condition hereof or to exercise any right or remedy consequent upon a breach hereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition.

3.1Any User who accesses the Application through the use of a computer, tablet, cell phone and/or any other device with Internet access, agrees not to use said devices, computer programs, software, or any other means to interfere or affect the functionalities, activities and/or operations of the Application as well as the databases and /or information contained therein.

3.2The User agrees that it will not "frame" or "mirror" any part of the Application, without our prior written authorization or use meta tags or code or other devices containing any reference to PakCredit in order to direct any person to any other web site for any purpose; or modify, adapt, translate, reverse engineer, decipher, decompile or otherwise disassemble any portion of the Application or any software used on or for the Application.

3.3The User accepts that he is responsible for having compatible software and hardware, the necessary devices, connection to the Internet network, and any other technical requirement necessary for the correct execution of the Application.

4.1PakCredit and the Users undertake to carry out all activities aimed at ensuring that all their staff, employees, partners, shareholders, administrators, customers, suppliers, etc., and their resources, are not related or come from illicit activities; particularly money laundering or financing of terrorism.

4.2In any case, if during the term of the loan, PakCredit has reasonable doubts about a User’s use of the Application or about the User’s activities or operations, as well as the origin of its assets and/or that the User is the subject of any investigation of any type (criminal, administrative, etc.) related to illicit activities, money laundering or financing of terrorism, or was included in the national or international black-lists for Pakistan, in accordance with international law (United Nations SDN list, any blacklist maintained by the US Department of Justice, Office of Foreign Assets Control (OFAC) or other similar lists maintained by the European Union etc.), PakCredit will have the right to unilaterally terminate the loan with interest, and the User shall indemnify PakCredit and its affiliates, partners, directors, employees and agents for any loss, liability, or damage suffered or incurred by it.

Any user who intends to request the products and services with PakCredit must first register through the Application, by creating a username and password, through the completion of the corresponding application in all its fields; being able to choose, if the option is enabled, the registration of your username and password with the link to your social networks, to speed up the creation of your account, resulting in PakCredit taking only the necessary data to carry out your registration. The user undertakes to maintain the confidentiality of his username and password since he understands that he will be responsible for all the operations carried out in and from his account, even as a result of loss, damage or theft of the device through which the User accesses the Application.

Without prejudice to other measures, PakCredit may suspend, without any requirement or formality, temporarily or definitively disable the User's account and/or suspend the provision of its Services if the user: (a) is in violation of any laws, or any of the stipulations of these Terms and Conditions; or (b) fails to fulfill its commitments or obligations as a User; or (c) is involved, in the sole opinion of PakCredit, in any fraudulent conduct or acts; or (d) the identity of the User could not be verified, or any information provided by the User is found to be erroneous, inaccurate, misleading or false.

7.1The User may cancel his account at any time, as long as there is no pending payment obligation in favor of PakCredit.

7.2PakCredit reserves the right to cancel the User's account at any time and/or refuse to provide any Services if it deems that sufficient reason exists, in its sole and absolute discretion, without necessarily assigning any specific reason.

8.1The User must fill in each and every one of the fields where he will be required to provide up-to date identification data, such as name, surname, date of birth, home address, contact telephone number, name and reference numbers of contacts, account number and/or interbank key where the loan proceeds will be deposited in the event that the loan requested by the User is authorized.

8.2The User agrees and accepts that in order to access our Service, PakCredit requires references from the loan applicant/User. The User authorize PakCredit to contact your referee to verify your information or when we are unable to contact you or when we have not received a repayment from you. We will contact your reference through SMS or phone calls to ensure that they consented for the sharing of his/her information with PakCredit and for PakCredit contacting them with respect to your use of the Service. In this sense, the User accepts that we collect and monitor their contact information that includes name, phone number. This information is necessary for risk analysis purposes as it allows PakCredit to detect credible references, evaluate the User’s risk profile and determine eligibility for the loan.

8.3PakCredit may be required to have access to customer data through the Biometric Verification System and the Account Holder hereby consents to the Lender for accessing such data through the Biometric Verification System.

9.1Once the required data has been entered, the User will receive a confirmation number to the cell phone number that they indicated in the application and/or web page, as part of the process for the authentication of their identity. The said confirmation number must be entered in the Application and/or on Web page to conclude the registration. The sending of said codes will be understood by PakCredit that this was done at the request of the User.

9.2In the same way, the user will be asked, within the same process, to take a photograph of their ID card on the front and back of it, the above is necessary to verify by PakCredit that the User is an adult (and not minor) having the legal capacity to contract, and can enter into any type of contract regardless of its nature. Subsequently, the User will be asked to take a self-captured photograph to verify in the same way by PakCredit that the User who registered his account is the same person who is applying for the loan and who is of legal age/adult.

9.3PakCredit reserves the right to request additional documentation in order to corroborate the data entered in the application, as well as to temporarily or permanently suspend the accounts and/or deny the applications of those Users whose data could not be confirmed, whether detected as altered or counterfeit.

9.4The account within the Application is personal, unique and non-transferable. PakCredit has the right to suspend, cancel or permanently terminate the account of any User in case of any breach by the User of these terms and conditions or the terms of the loan agreement or any other document binding between PakCredit and the User. Users are strictly prohibited from registering more than once using the Application, or to have more than one account within the Application. In the event that PakCredit detects different accounts that contain matching or related data, it may cancel, suspend or disable any one or both such accounts, without any liability towards either User/person.

9.5PakCredit makes no representation and provides no warranty to any User with respect to the continued availability of any Finance or Services provided by PakCredit. All representations, warranties and other obligations and liabilities, whether express of implied, and whether arising under law, equity, or any other legal doctrine, in connection with the provision of any Finance or Services under these Terms of Service are hereby excluded and disavowed to the fullest extent permitted by law.

9.6In no event shall PakCredit and/or any of its agents, employees, officers, parent company, affiliates, subsidiaries, successors, assigns, directors, and/or attorneys be liable to the User for lost profits and/or punitive or exemplary incidental consequential, special and/or damages in any action arising out of , related to: (i) these Terms and Conditions; (ii) the rights granted hereunder; (iii) any breach, termination, cancellation or non-renewal hereof; (iv) the provision of any Finance or Services to the User or its business; and/or (v) any act, omission, error, mistake and/or other negligence of PakCredit.

9.7The maximum amount of liability which PakCredit shall have towards any User shall be limited to the fees, processing fees or other administrative and appraisal charges paid by the User to PakCredit. PakCredit shall not be liable for any damages caused by failure or delay in providing any Finance or Services, or any periodic or recurring interruption of the same.

9.8The User agrees that PakCredit may disclose details relating to PakCredit including details of default in servicing the Operative Account to any third party (including credit bureaus) within twenty (20) days, for the purpose of evaluating the User's credit worthiness or for any other lawful purpose. The User hereby expressly consents and allows PakCredit to forward personal data and file credit information to licensed credit bureaus, insurance companies, mobile financial service providers/banks and other partner companies of PakCredit.

10.1The User is responsible for the account and its passwords, in the event that these are lost, stolen or any situation that arises at the present or future time, the user has the legal obligation to notify PakCredit immediately in writing, electronically or by telephone of any unauthorized use of the User’s account, as well as the entry by unauthorized third parties to it, therefore it is noted that at the time the User made the registration of the account is strictly prohibited by " PakCredit from selling, assigning or transferring the account. The user indemnifies PakCredit against any unauthorized use and damage/losses caused due to such unauthorized access/use.

10.2PakCredit will not be responsible for general or typographical errors made by the User or due to negligence when using the Services of the Application and/or the Web-page. PakCredit shall have no liability or responsibility for the User’s negligence by leaving any electronic device, through which the User has access to the Application, the Web-page and the Services without any attention.

10.3PakCredit reserves the right to reject any application for registration or to cancel a previously accepted application, without being obliged to state the reasons for its decision and without this generating any right to compensation for the User.

11.1Once the account has been created by the User, he or she may, within the Application, request the loan for up to a maximum permitted by PakCredit under its applicable lending policy from time to time. However, before User may be considered by PakCredit as eligible to be granted a loan for the maximum amount, the User must generate a credit history with PakCredit by making time repayments. Initially, only the minimum loan amount shall be authorized, or such amount which PakCredit considers appropriate according to the level of risk that the User represents. Subsequently, depending on the User’s credit history, CIB reports and other credit score metrics, the User may become eligible for higher loan amounts.

11.2Until such time that the User is notified within the Application by PakCredit that the loan requested has been authorized, the User shall have no right, title, claim or interest in any loan amount requested, nor any claims against PakCredit.

11.3The User understands that creation of a User account, submission a loan application, or acceptance of these Terms and Conditions does not represent any formal offer by PakCredit and does not imply that the loan has been or will be authorized.

12.1Lender will disclose the markup rate that will be charged on the loan, whether it is fixed, variable, or a combination of both, shall be fully disclosed to you.

12.2The financing details, including the loan amount, term, number of installments, and the amount to be paid for each installment, shall be provided to you.

12.3The calculation of charges and penalties that may apply if the loan facility is settled before the maturity of the loan shall be disclosed to you.

12.4Any applicable fees and charges that you may incur shall be disclosed.

13.1The User shall be required to agree to these Terms and Conditions, and the terms of the loan agreement and its associated documentation, by electronic acceptance and signature. The applicant agrees, acknowledges and accepts that by availing any loan amount, it shall acquire a debt for the amount that has been authorized by PakCredit, and accordingly the User is deemed to be aware that the since PakCredit has granted the User such loan, the User shall be liable for the full and final repayment of all amounts granted as principal, plus contracted/agreed interest/mark-up and other associated charges. However, in case the User fails to comply with the repayment obligation on the total loan at the due date, delay/default charges will be charged strictly in accordance with the provisions of loan agreement.

13.2In addition to and without prejudice to any rights under the loan agreement executed between borrower and PakCredit, the User agrees to pay any and all amounts, including fees, costs, charges, expenses, penalties and legal or attorney fees occurred or related to the User’s violation of this Term and Conditions, including costs and expenses incurred by PakCredit to recovery such amounts from the User.

13.3The charges payable by a User in connection with any Finance availed are intimated to a User by PakCredit through the loan agreement are, and which shall include:

a.Cost incurred by the Lender in respect of the User as the amount paid to any credit information bureau (CIB) to determine existing indebtedness and credit worthiness of the User.

b.Identity Verification Costs, which are costs, incurred by the Lender in respect of the User which is paid to any agency or entity for the purposes of verifying the identity of the User.

c.Fund Transfer Costs which are the inter-bank fund transfer (IBFT) or other transaction / disbursement / electronic fund transfer costs incurred by the Lender in connection with the disbursement of the loan to the User’s bank account, branchless banking account, mobile wallet or other applicable account.

d.Early payment fee (if applicable).

e.A one-time processing/service fee payable in connection with any Finance availed by a User.

f.The charges payable by a specific User for availing any Finance or Services shall be intimated to the User via the Application at the time any Finance or Services are offered to or availed by a User.

13.4The User, with prior notification to PakCredit through a written document, electronic communication or telephone call, may make a partial repayment or pre-payment through electronic transfer and/or through a service provider authorized by PakCredit. Information on such authorized service providers and payment channels will be published through the Application.

13.5Other than any partial or full pre-payment, the User shall be liable to pay repayment of the loan amount in accordance with the repayment schedule provided to the User in the loan agreement.

14.1Each User shall be granted an Operative Account wherein all transactions relating to the User, including the provision the Services availed by the User shall be maintained.

14.2PakCredit, shall maintain an account statement and an activity report for a User’s Operative Account, which statement and report will be accessible from the User’s account. The statement of account shall contain details of transactions carried out in a User’s Operative Account (up to a maximum limit to be determined by PakCredit).

14.3Users are responsible for checking their Operative Account statements from time to time and to notify PakCredit, immediately in case any transaction or other entry therein is incorrectly entered, or any transaction has been carried out contrary to the User’s instructions.

14.4PakCredit, is hereby expressly authorized to correct any errors, omissions or other discrepancies in a User’s Operative Account statement from time to time. A User will be notified in case any corrections or rectifications are made by PakCredit, to its Operative Account statement as soon as reasonably practical.

14.5Users will be notified periodically (based on preference chosen by Users) of all transactions made in their Operative Accounts in accordance with the notification provisions set out in these Conditions, and the User shall be responsible for payment of all charges in connection with such value-added or ancillary Services.

14.6Save for a manifest error, an Operative Account statement maintained and issued by PakCredit, shall be conclusive evidence of all transactions carried out by a User through its Operative Account.

15.1All payments to be made by a User in connection with these Terms of Service are calculated without regard to any taxes in connection with the repayment of any Finance or the provision of any Services. If any taxes are payable in connection with repayment of any Finance or the provision of any Services to a User, such User must pay to PakCredit such additional amount on account of such applicable taxes to enable PakCredit to pay such taxes to the relevant tax authorities.

15.2The User hereby undertakes and agrees that PakCredit may at any time block to freeze any amounts held in a User’s Operative Account on the instructions of any tax or other governmental or regulatory authority.

The User gives his consent to PakCredit so that by any technological means he decides to send him advertising related to the Services. Furthermore, the User agrees that his personal data can and may be used by PakCredit for marketing and/or advertising purposes.

PakCredit may establish various contracting/eligibility requirements for each of its products.

PakCredit may modify the Terms and Conditions with reasonable prior notice at any time, making the modified terms public in the Application. In case of disagreement of the User regarding the changes made, the User must communicate it by email, phone or any other electronic means within 5 (five) days following the publication of the modifications. In this case, the User's account will be canceled as long as there are no pending amounts in favor of PakCredit. After this period, without opposition from the User, it will be considered that the User accepts and unconditionally agrees to the new Terms and Conditions in true letter and spirit.

19.1Subject to your compliance with these Terms and Conditions, PakCredit grants the User a limited, non-exclusive, non-sub-licensable, revocable, non-transferrable license to: (i) access and use the PakCredit Mobile Application on its personal device solely in connection with requesting or availing any Finance or Services; and (ii) access and use any content, information and related materials that may be made available through the Application, in each case solely for the User’s personal, non-commercial use.

19.2Any rights not expressly granted herein are reserved by PakCredit and PakCredit’s licensors.

19.3The User hereby confirms, agrees and acknowledges that all Intellectual Property rights in the Application, including know-how, software, source-code, information technology tools, artificial intelligence, and other technology used by the Lender has been developed exclusively for PakCredit, its parent or affiliated companies or licensors. All rights in the PakCredit Mobile Application are expressly reserved.

19.4Any violation of the foregoing or of the applicable legislation regarding intellectual, industrial property and copyright will be considered and prosecuted as a crime in accordance with the applicable law of Pakistan.

19.5With respect to a User’s use of the Application, and availing any Services, the User agrees and undertakes that it will not: (i) impersonate any person or entity; (ii) stalk, threaten, or otherwise harass any person (including other Users making simultaneous use of the Service) or engage in any other activity which may constitute a crime under the Prevention of Electronic Crimes Act, 2016; (iii) violate any law, statute, rule, permit, ordinance or regulation in Pakistan; (iv) forge headers or otherwise manipulate identifiers in order to disguise the origin of any information transmitted through the Application; (v) post information on the Application, or with respect to any Services offered by PakCredit which is false, inaccurate, misleading (directly or by omission or failure to update information), defamatory, libelous, abusive, obscene, profane, offensive, harassing, or illegal; (vi) cause, assist, or procure any third party to engage in the restricted activities above.

19.6The User may not access, copy, reverse engineer, modify or otherwise seek to replicate or utilize the Application for any purpose other than to avail any Finance or other Services in accordance with these Terms of Service. A User may not access any PakCredit software in source-code form.

20.1PakCredit shall not be liable on account of any failure to perform its obligations hereunder due to any strikes, lock-outs, fires, accidents, explosions, war, insurrection (declared or undeclared), hostilities, riots, rebellions, revolutions, blockades, embargoes, fires, floods, tempest, hurricane or other acts of God or due to any other causes beyond the reasonable control of such person (each a “Force Majeure Event”).

20.2Notwithstanding anything contained herein, PakCredit does not assume any responsibility or liability for any loss caused to the User by a Force Majeure Event.

20.3To the extent permitted by law, PakCredit shall not be liable for any interruption or obstruction of the service caused by any of the following circumstances:

a.Damage caused by computer viruses, trojan horse viruses or other malicious programs or hacker attacks;

b.Failure of the User’s or PakCredit’s servers, computers, software, systems, hardware and/or communications systems;

c.User’s failure to operate the Application or to avail the Services in the normal course;

d.User’s use of the Application of any of the Services in a manner not authorized by PakCredit;

e.Any interruption or failure of the banking system or bank network failure; or

f.Other circumstances beyond the control or reasonable expectation of PakCredit.

20.4During the User’s use of the Services, PakCredit is not responsible for the following risks:

a.Anonymous information or information from disguised sources that contains threatening, defamatory, offensive or illegal content;

b.Psychological, physical and economic damage caused by misleading, deceitful or other acts; or

c.Other risks caused by network information or the User’s actions.

20.5During the User’s use of the Services, the Lender shall be entitled to delete any illegal content to the extent permitted by law, but it does not undertake the obligation or commitment to do so.

21.1PakCredit has established a grievance redressal system (GRS) pursuant to Circular No. 24 of 2018 issued by the Securities & Exchange Commission of Pakistan. The GRS can be accessed by a User who has entered into a loan agreement through the Application.

21.2The User shall have the right to lodge a complaint (whether verbal or in writing) with PakCredit through the GRS by contacting a designated representative of the GRS whose contact details (address, phone, email address etc.) have been provided on the Application or otherwise intimated to or made available to the User. PakCredit shall use all reasonable efforts to respond to the User’s complaint within a maximum period of four (4) weeks from the date of the complaint, unless the nature of the complaint requires more detailed scrutiny.

21.3In the event the User is not satisfied with the outcome of the GRS, the User may invoke his/her right to resolve any dispute arising under or in connection with these Terms and Conditions in accordance with the dispute resolution provisions set out in the loan agreement executed between the User and the Lender.

21.4Contact details of designated representatives for handling customer grievances are as follows:

Manager: Muhammad Faheem

Phone: 051 - 8840829

Email: manager@pakcreditloan.com

Service Hours:

- Monday – Sunday: 09:00 AM – 9:00 PM

The aforesaid contact information can also be found in the “grievance redressal” tab on the Application.

22.1PakCredit will be available to be contacted by the User at its registered office address located in Islamabad Capital Territory (ICT), or via telephone or email during office hours on working days.

22.2Contact details (email, phone, address etc.) of customer services representatives responsible for addressing User’s general queries, requests, suggestions or complaints are provided below:

Phone: 051 - 8840829

Email: service@pakcreditloan.com

Service Hours:

- Monday – Sunday: 09:00 AM – 9:00 PM

The aforesaid details are also available on “contacts” tab in the Application.

22.3All notices and notifications that the parties must or wish to make in relation to these Terms and Conditions, must be made by email, in the case of those addressed to the User, to the account that has been provided at the time of registration, and for those addressed to PakCredit to the contact account indicated in these Terms and Conditions. The User confirms that his address/place of residence as mentioned on the Application, expressed in the data form for registration is true and correct and shall serve the purpose of service of notices/summons etc.

23.1These terms and conditions shall be governed by and construed in all respects under the laws of Islamic Republic of Pakistan.

23.2In case of any complaint regarding the Services, the User must first submit any such complaints directly to the customer services desk, whose details are available on the Application. Any User complaint that cannot be resolved through the complaint resolution mechanism shall be resolved in accordance with the dispute resolution provisions set out in the User’s loan agreement with PakCredit.

24.1The User may not assign or otherwise dispose of any of the User's rights and obligations, in whole or in part, under these Terms and Conditions without PakCredit prior approval. PakCredit may transfer or assign its rights and obligations under these Terms and Conditions and such transfer or assignment shall be effective upon notification of the same to the User.

24.2Nothing herein shall create any joint venture, partnership, employment or agency relationship between any User and PakCredit.

24.3If any provision of these Terms and Conditions is held to be illegal, invalid or unenforceable, in whole or in part, under any law, such provision or part thereof shall to that extent be deemed not to form part of these Terms and Conditions and shall be deleted, while the remainder of these Terms and Conditions’ legality, validity and enforceability of the other provisions shall remain in full force and effect according to its terms.