Terms of Service

1. Agreement to Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you and Thula Mali ("Company," "we," "our," or "us") governing your access to and use of our website, services, and revenue-based funding products.

By accessing our website, submitting a funding application, or using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy. If you do not agree with these Terms, you must not use our services.

These Terms are governed by the laws of the Republic of South Africa, including but not limited to the National Credit Act 34 of 2005 (NCA), Consumer Protection Act 68 of 2008 (CPA), and Protection of Personal Information Act 4 of 2013 (POPIA).

2. Definitions

For the purposes of these Terms:

• "Applicant" refers to any individual or business entity that submits a funding application through our platform.
• "Funding Agreement" means the contract entered into between Thula Mali and an approved Applicant for the provision of revenue-based funding.
• "Revenue-Based Funding" refers to our financing model where repayment is calculated as a percentage of the business's monthly revenue.
• "Services" includes our website, application platform, funding products, and all related services provided by Thula Mali.
• "Business Day" means any day other than a Saturday, Sunday, or public holiday in South Africa.

3. Eligibility Requirements

3.1 General Eligibility

To use our services and apply for funding, you must:

• Be at least 18 years of age
• Be a South African citizen or permanent resident with valid identification
• Have legal capacity to enter into binding contracts
• Operate a registered business or sole proprietorship in South Africa
• Have an active South African bank account
• Provide accurate and complete information in your application

3.2 Business Eligibility

Your business must meet the following criteria:

• Be operational for at least 6 months
• Generate consistent monthly revenue
• Operate legally within South Africa
• Not be under administration, liquidation, or business rescue proceedings
• Have no history of fraudulent activity or financial misconduct

4. Application Process

4.1 Submission

When you submit a funding application, you represent and warrant that all information provided is accurate, complete, and current. False or misleading information may result in immediate rejection of your application and potential legal action.

4.2 Review and Assessment

We reserve the right to conduct comprehensive due diligence on all applications, including but not limited to:

• Credit checks and credit bureau inquiries
• Verification of identity documents and business registration
• Analysis of financial statements and bank records
• Assessment of business viability and revenue sustainability
• Background checks on business owners and directors

4.3 Approval and Rejection

Submission of an application does not guarantee approval. We reserve the absolute right to approve or reject any application at our sole discretion, without providing reasons for rejection. Approval is subject to satisfactory completion of due diligence and execution of a Funding Agreement.

4.4 Processing Time

We aim to review applications within 48 to 72 hours. However, processing times may vary depending on the completeness of your application and the volume of applications received. Complex applications requiring additional verification may take longer.

5. Funding Terms and Conditions

5.1 Funding Range

Thula Mali provides revenue-based funding ranging from R50,000 to R500,000, subject to business qualification and risk assessment. The approved funding amount will be specified in your individual Funding Agreement.

5.2 Revenue-Based Repayment Model

Unlike traditional loans, our funding model requires repayment as a fixed percentage of your monthly revenue. Key features include:

• No Fixed Monthly Payments: Repayment amounts fluctuate based on your actual monthly revenue
• Revenue Share Percentage: Typically between 5% and 15% of gross monthly revenue, determined during approval
• Repayment Cap: Total repayment is capped at 1.2x to 1.5x the funded amount (specified in your agreement)
• Flexible Duration: Repayment period varies based on your business performance, typically 12-24 months

5.3 Disbursement

Upon approval and execution of the Funding Agreement, funds will be disbursed to your designated South African bank account within 3-5 Business Days. You must use the funding solely for legitimate business purposes as outlined in your application.

5.4 Revenue Reporting

You agree to provide accurate monthly revenue reports by the 5th day of each month. We may require supporting documentation such as bank statements, point-of-sale reports, or accounting records to verify reported revenue. Failure to provide timely and accurate revenue reports constitutes a material breach of the Funding Agreement.

5.5 Payment Method

Monthly repayments will be processed via direct debit from your designated bank account or through payment links sent via WhatsApp/email. You authorize us to debit your account for the calculated repayment amount each month.

6. Prohibited Uses

You agree not to use our services or funding for any of the following purposes:

• Any illegal, fraudulent, or unauthorized activities
• Gambling, cryptocurrency speculation, or high-risk investments
• Purchasing or distributing illegal goods or services
• Money laundering or financing of terrorism
• Pyramid schemes, multi-level marketing, or similar business models
• Businesses operating without proper licenses or regulatory compliance
• Adult entertainment, weapons, or other restricted industries
• Personal expenses unrelated to business operations

Violation of these prohibited uses will result in immediate termination of your Funding Agreement and may require full repayment of outstanding amounts within 7 days.

7. Default and Remedies

7.1 Events of Default

The following constitute events of default:

• Failure to make required monthly repayments for 30 consecutive days
• Providing false or misleading revenue reports
• Failure to provide monthly revenue reports for 2 consecutive months
• Breach of any material term of the Funding Agreement
• Insolvency, liquidation, or business rescue proceedings
• Closure or cessation of business operations
• Use of funds for prohibited purposes

7.2 Consequences of Default

Upon default, we reserve the right to:

• Declare the entire outstanding balance immediately due and payable
• Increase the revenue share percentage by up to 5%
• Report the default to credit bureaus, affecting your credit score
• Engage debt collection agencies or legal counsel
• Institute legal proceedings to recover outstanding amounts
• Claim interest on overdue amounts at the prescribed rate under the NCA

7.3 Right to Cure

We will provide written notice of default and allow you 14 Business Days to cure the default before exercising our remedies. This cure period does not apply in cases of fraud or intentional misrepresentation.

8. Intellectual Property Rights

All content on our website, including but not limited to text, graphics, logos, images, software, and trademarks, is the exclusive property of Thula Mali and is protected by South African and international copyright and trademark laws.

You may not reproduce, distribute, modify, create derivative works from, publicly display, or exploit any content from our website without our prior written consent. Unauthorized use may result in legal action and claims for damages.

9. Limitation of Liability

To the maximum extent permitted by South African law:

• Thula Mali shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services
• Our total liability for any claims related to our services shall not exceed the total amount of funding provided to you
• We do not guarantee business success, profitability, or specific outcomes from the use of our funding
• We are not responsible for losses resulting from your business decisions, market conditions, or external factors beyond our control

This limitation of liability does not exclude or limit liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded under South African law.

10. Indemnification

You agree to indemnify, defend, and hold harmless Thula Mali, its directors, officers, employees, agents, and affiliates from and against any claims, liabilities, damages, losses, costs, or expenses (including reasonable legal fees) arising from:

• Your breach of these Terms or the Funding Agreement
• Your violation of any law or regulation
• Your infringement of any third-party rights
• Misrepresentation or fraud in your application or revenue reporting
• Your use of funding for prohibited purposes

11. Dispute Resolution

11.1 Negotiation

In the event of any dispute arising from these Terms or the Funding Agreement, the parties agree to first attempt to resolve the matter through good-faith negotiation.

11.2 Mediation

If negotiation fails, the parties agree to submit the dispute to mediation under the rules of the Arbitration Foundation of Southern Africa (AFSA) before pursuing litigation.

11.3 Jurisdiction

These Terms are governed by the laws of the Republic of South Africa. Any legal proceedings shall be instituted in the Magistrate's Court or High Court having jurisdiction in Johannesburg, South Africa, and you consent to the jurisdiction of such courts.

12. Termination

12.1 Termination by You

You may terminate your use of our website at any time. However, termination does not relieve you of obligations under any existing Funding Agreement, which remains in full force until all repayment obligations are satisfied.

12.2 Termination by Us

We reserve the right to suspend or terminate your access to our services immediately, without notice, for:

• Breach of these Terms or the Funding Agreement
• Fraudulent or illegal activity
• Failure to provide required information or documentation
• Any conduct that we deem harmful to our business or reputation

12.3 Effect of Termination

Upon termination, all outstanding amounts under the Funding Agreement become immediately due and payable. Provisions of these Terms that by their nature should survive termination (including indemnification, limitation of liability, and dispute resolution) shall continue in effect.

13. Amendments to Terms

We reserve the right to modify these Terms at any time. Material changes will be communicated via email or prominent notice on our website at least 30 days before taking effect. Your continued use of our services after changes become effective constitutes acceptance of the modified Terms. If you do not agree with the changes, you must discontinue use of our services.

14. Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be severed, and the remaining provisions shall continue in full force and effect.

15. Entire Agreement

These Terms, together with our Privacy Policy and any executed Funding Agreement, constitute the entire agreement between you and Thula Mali regarding the use of our services and supersede all prior agreements, understandings, and representations.

16. Contact Information

For questions or concerns regarding these Terms of Service, please contact: