terms & conditions
terms and conditions
This page contains Moni Market’s terms and conditions. By using the website you agree to be bound to these terms and conditions.
All of the information on the Moni Market website is designed as general reference for potential and current Moni Market users. It is not intended to be used as general financial advice. Moni Market does not offer financial or investment advice and recommends that you seek independent professional advice before using any of the information contained within this site.
While all practical efforts have been made to verify the accuracy and utility of the information contained on this website Moni Market cannot guarantee its accuracy or usefulness. The information contained within is intended for the purposes of guidance and should not be taken as definitive or wholly accurate.
No information on this website should be seen as a future promise or past representation of Moni Market or its services. The information is current when you view it but Moni Market reserves the right to change any information found on this website at any time with no prior notice.
If you wish to use Moni Market’s services you must be a PNG resident who is over 18 years of age. You need to make sure that the details you give us are accurate and comprehensive and you need to inform us of any changes to your situation or details immediately.
liability
To the extent permitted by the law, Moni Market, its directors and any other involved parties exclude all responsibility and liability with respect to this website. Moni Market is not responsible for any mistakes, omissions, misinterpretations or misuse of information from this website, nor are we liable for any damage, cost or expense incurred.
To the extent permitted by the law, Moni Market excludes any and every warranty and condition that could otherwise by applied with respect to this website, the information on it and the services offered. We reserve the right to change the information contained on this website at any time.
jurisdiction
The user and Moni Market hereby irrevocably submit to the exclusive jurisdiction of the competent courts of PNG in respect of any claim or matter arising under or in connection with the content or use of the site.
warning about borrowing
Moni Market specialises in providing fast little loans. You can borrow K100 to K2000 for between 2 and 12 weeks.
When you get a loan with Moni Market, you know exactly what you are getting. We promise there are no hidden costs, no small print and no nasty surprises. What you see is what you get.
Our loans have been designed to provide quick, clear and fair finance for people who need help making ends meet.
Moni Market Financial Services Limited is a registered company operating within PNG.
The Credit Agreement (Loan Agreement) will be governed by the laws of PNG.
- Establishment Fee – K25
- K28 extension fee should you require additional time to repay
- Interest is charged at 25%, 40%, per day on the outstanding balance of the loan based on the original loan size
- K30 wage deduction fee if you fail to repay your loan
- K20 default fee if you fail to make your payment
We will get in touch with you if any of your payments dishonour and if you have a genuine reason we will do everything we can to help you. If you are able to make the payment within 36 hours we will not charge a default fee of K20.
If we have not been able to come to some agreement after ten days, or you have dishonoured more than once, we will arrange to recover the loan by wage deduction.
If we still have not been paid in full we will lodge a default against your credit report, this may be followed by legal action.
If you have experienced some form of hardship e.g. sickness, redundancy, family bereavement—between taking your loan and your payment we will look to put a new schedule together without adding additional fees.
If you fail to repay your loan it will negatively affect your credit rating.
Moni Market loans are only suitable to improve short term cash flow requirements.
Any advice provided is generic in nature and may not suit your individual needs. If you are already in debt we would advise you to seek professional budgeting advice before taking out a Moni Market loan.
If you have any questions about our loan, or do not understand what you are signing you should seek independent legal advice.