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Tribease SMEs Retail Fit-Out BNPL Financing – Terms & Conditions

  1. Eligibility
    1. 1.1 You must be a registered business operating in Nigeria with verifiable legal and financial information.
    2. 1.2 Minimum financing amount is ₦500,000.
    3. 1.3 Repayment period shall be between 4 and 12 months, as agreed in the Financing Agreement.
  2. Financing Scope
    1. 2.1 Financing is strictly for retail fit-out projects, including but not limited to: furniture, electrical works, painting, signage, air conditioning, solar systems, and business equipment.
    2. 2.2 Financing will not be disbursed directly to you; rather, funds will be paid directly to approved vendors, merchants, or partners after you approve of completed work or delivered goods.
  3. Fees & Charges
    1. 3.1 A one-off interest fee between 10% and 25% of the principal amount shall be charged upfront, based on your chosen repayment plan.
    2. 3.2 A 2.5% transaction insurance fee shall apply to each approved financing transaction.
    3. 3.3 No other charges will apply unless disclosed and agreed in writing or on the platform.
  4. Late Payment & Default Penalties
    1. 4.1 If you fail to make a scheduled repayment on or before the due date, a penalty interest of 3.5% per month shall be applied on the overdue amount.
    2. 4.2 In the event of continued default, Tribease reserves the right to:
      1. a) Enforce a Revenue-Based Repayment Plan, where a fixed percentage of your gross business revenue will be collected daily, weekly, or monthly until the full outstanding amount is repaid.
      2. b) Repossess financed items, equipment, or installations.
      3. c) Report your business and/or directors to credit bureaus.
      4. d) Suspend or terminate your eligibility for future financing.
      5. e) Pursue full legal recovery of the outstanding debt.
  5. Vendor Payment & Approval
    1. 5.1 You are solely responsible for inspecting and approving the quality of goods or services from your vendor before Tribease makes any or final payment.
    2. 5.2 Once you approve in writing or on the platform, Tribease shall pay the vendor directly.
    3. 5.3 Tribease bears no liability for poor workmanship or defective products from vendors.
  6. Early Repayment
    1. 6.1 You may repay the outstanding financing amount before the agreed end date without incurring additional penalties.
    2. 6.2 Early repayment may improve your creditworthiness for future financing consideration.
  7. Insurance
    1. 7.1 The 2.5% transaction insurance fee covers partial protection against theft, damage, or business closure events.
    2. 7.2 This does not exempt you from repayment obligations.
  8. Default & Enforcement
    1. 8.1 Failure to make repayments as agreed constitutes a material breach of this Agreement.
    2. 8.2 Tribease may enforce all remedies provided herein and in Nigerian law to recover outstanding amounts.
    3. 8.3 All repossessed items remain the property of Tribease until the financing is fully repaid. The repossessed items may be converted to your repayment without any further notice after 2 months or the agreed period.
  9. Dispute Resolution
    1. 9.1 All disputes shall first be resolved amicably between the parties.
    2. 9.2 If unresolved, the matter shall be referred to arbitration under Nigerian law, with venue in Lagos State.
    3. 9.3 The decision of the arbitrator shall be final and binding.
  10. Governing Law
    1. 10.1 This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
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