Terms of Service

These Terms of Service (“Terms”) constitute a legally binding agreement between you (“User”, “Organisation”, or “Subscriber”) and Credit-Nest (“Company”, “we”, “us”, or “our”) governing your access to and use of the Credit-Nest loan management platform, accessible at app.credit-nest.stock-nest.com and related services (collectively, the “Service”).

By creating an account, clicking “Accept,” or otherwise accessing or using the Service, you confirm that you have read, understood, and agree to be bound by these Terms, our Privacy Policy, and any applicable additional terms. If you are accepting on behalf of an organisation, you represent that you have authority to bind that organisation.

If you do not agree to these Terms, do not access or use the Service.

Credit-Nest is a cloud-based, multi-tenant Software-as-a-Service (“SaaS”) loan management platform designed for private lenders, microfinance institutions, savings and credit cooperatives (SACCOs), and similar organisations.

The Service provides tools for:

• Creating and managing loan organisations and team members
• Configuring loan plans with interest rates and repayment terms
• Managing borrower profiles and loan applications
• Tracking loan disbursements, repayment installments, and payment records
• Monitoring portfolio performance and generating reports

Credit-Nest is a management tool only. We do not originate, broker, underwrite, or guarantee any loan transaction between you and your borrowers. You remain solely responsible for all lending decisions and compliance with applicable lending laws.

To access the Service, you must create an account and establish at least one Organisation. You agree to provide accurate, current, and complete registration information and to keep this information updated.

You are responsible for:

• Maintaining the confidentiality of your login credentials
• All activity that occurs under your account
• Notifying us immediately of any unauthorised access to your account
• Ensuring all team members you invite comply with these Terms

You must be at least 18 years old and have legal capacity to enter into contracts in the Republic of Uganda or your jurisdiction of operation to use the Service.

Free Trial: New accounts receive a 14-day free trial upon registration. No payment method is required to start the trial. At the end of the trial period, your account will be paused unless you subscribe to a paid plan.

Subscription: The Pro Plan is billed at UGX 30,000 per month per Organisation. Subscriptions are billed monthly in advance on the date you activate your paid subscription.

Automatic renewal: Your subscription will automatically renew each month unless you cancel it before the renewal date. By subscribing, you authorise us to charge your payment method on the renewal date.

Price changes: We reserve the right to change our subscription pricing. We will give you at least 30 days' notice of any price increase via email or in-platform notification. Continued use of the Service after the price change becomes effective constitutes your agreement to pay the new price.

Refunds: Subscription fees are non-refundable except where required by applicable law. If you cancel mid-period, you retain access through the end of the current billing period.

Failed payments: If a payment fails, we will notify you and allow a grace period. If payment is not received within 7 days of the due date, we may suspend access to your account until payment is made.

You agree to use the Service only for lawful purposes and in accordance with these Terms. You must not:

• Use the Service to facilitate illegal lending practices, usury, or predatory lending
• Enter false, misleading, or fraudulent borrower or loan data
• Attempt to gain unauthorised access to other organisations' data or any part of the Service not intended for you
• Reverse-engineer, decompile, or attempt to extract the source code of the Service
• Use the Service in any manner that could impair, overburden, or damage the Service infrastructure
• Transmit any malware, viruses, or malicious code through the Service
• Resell or sublicense access to the Service to third parties without our written consent
• Use the Service to store or process data in violation of applicable data protection laws

We reserve the right to investigate violations and terminate accounts that breach this policy without notice or refund.

Your use of the Service is also governed by our Privacy Policy, which is incorporated into these Terms by reference.

Your data: You retain ownership of all data you input into the Service, including borrower records, loan data, and payment records (“Customer Data”). We process Customer Data only to provide the Service as described in our Privacy Policy.

Data isolation: Each Organisation's data is logically isolated. We do not share Customer Data between Organisations.

Data export: You may export your Customer Data at any time while your account is active. We will also provide a data export window of 30 days following account termination.

Data retention: After the 30-day export window following termination, we may permanently delete your Customer Data. We will not be liable for any data loss following account termination.

Sensitive data: You acknowledge that loan and borrower data may be sensitive personal and financial information. You are responsible for ensuring your use of the Service complies with applicable data protection laws in your jurisdiction, including the Uganda Data Protection and Privacy Act 2019.

The Service, including all software, designs, trademarks, and content, is owned by Credit-Nest and protected by intellectual property laws. These Terms do not grant you any ownership rights in the Service.

We grant you a limited, non-exclusive, non-transferable, revocable licence to access and use the Service solely for your internal business operations during the term of your subscription and in accordance with these Terms.

You grant us a limited licence to host, store, and process your Customer Data to provide the Service.

We target 99.9% uptime for the Service, excluding scheduled maintenance. Scheduled maintenance will be communicated in advance where practicable.

We do not guarantee that the Service will be uninterrupted, error-free, or free from security vulnerabilities. The Service is provided on an “as is” and “as available” basis.

We will use commercially reasonable efforts to restore the Service in the event of an outage. We shall not be liable for any losses arising from Service unavailability beyond the pro-rated value of your monthly subscription fee for the affected period.

By you: You may cancel your subscription and close your account at any time from your account settings. Cancellation takes effect at the end of your current billing period.

By us: We may suspend or terminate your account immediately if you breach these Terms, fail to pay subscription fees after the grace period, engage in illegal activity through the Service, or if we reasonably believe your use poses a risk to the Service or other users.

Effect of termination: Upon termination, your right to access the Service ends. We will provide a 30-day data export window. After this period, we may permanently delete your Customer Data.

To the maximum extent permitted by applicable law:

• Credit-Nest shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business, arising from your use of or inability to use the Service.
• Our total aggregate liability to you for any claim arising from or relating to the Service shall not exceed the total subscription fees you paid to us in the three months preceding the claim.
• We are not liable for any lending decisions you make, any losses suffered by you or your borrowers, or any regulatory penalties you incur in connection with your lending activities.

Nothing in these Terms excludes or limits liability for death or personal injury caused by negligence, fraud, or any liability that cannot be excluded by law.

The Service is provided “as is” without warranty of any kind, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, accuracy, or non-infringement. We do not warrant that interest calculations, reports, or data outputs are free from error — you are responsible for verifying all calculations and records before relying on them for lending decisions.

These Terms shall be governed by and construed in accordance with the laws of the Republic of Uganda, without regard to its conflict of law principles.

Any dispute arising from or relating to these Terms or the Service shall first be subject to good faith negotiations between the parties. If not resolved within 30 days, disputes shall be submitted to the exclusive jurisdiction of the courts of Kampala, Uganda.

We reserve the right to modify these Terms at any time. We will provide at least 14 days' notice of material changes via email or prominent in-platform notice. Your continued use of the Service after the effective date of the revised Terms constitutes your acceptance of the changes.

The most current version of these Terms is always available at https://credit-nest.stock-nest.com/terms.

Entire agreement: These Terms, together with our Privacy Policy, constitute the entire agreement between you and Credit-Nest regarding the Service.

Severability: If any provision of these Terms is found unenforceable, the remaining provisions continue in full force.

Waiver: Our failure to enforce any right under these Terms does not constitute a waiver of that right.

Assignment: You may not assign your rights under these Terms without our prior written consent. We may assign our rights without restriction.

For questions about these Terms, please contact us at:

Email: legal@credit-nest.stock-nest.com
Address: Credit-Nest, Kampala, Uganda
Web: credit-nest.stock-nest.com/contact