Platform Terms of Service

VulaCheck Platform — Tenant Agreement

Version 1.0 · Effective 27 June 2026 · Last updated 27 June 2026

These Terms of Service (the “Terms”) govern your access to and use of the VulaCheck platform (the “Platform”) operated by VulaCheck (Pty) Ltd, registration number 2026/307850/07 (“VulaCheck”, “we”, “us”). They form a binding agreement between VulaCheck and the organisation that accepts them (the “Client”, “you”).

1. Definitions

1.1 “Platform” means the VulaCheck software-as-a-service lending platform, including the lender portal, borrower portal, and related services and documentation.

1.2 “Client Data” means the data the Client and its users submit to or generate through the Platform, including personal information of the Client’s applicants and borrowers.

1.3 “Data Processing Agreement” or “DPA” means the VulaCheck Data Processing Agreement (POPIA Operator Agreement), which forms part of these Terms.

1.4 “NCA” means the National Credit Act 34 of 2005; “POPIA” means the Protection of Personal Information Act 4 of 2013; “FICA” means the Financial Intelligence Centre Act 38 of 2001.

2. Acceptance and authority

2.1 By accepting these Terms electronically, or by accessing or using the Platform, you agree to be bound by these Terms, the DPA, and the VulaCheck Platform Privacy Policy.

2.2 The individual accepting these Terms warrants that they are duly authorised to bind the Client. If you do not have that authority, you must not accept these Terms or use the Platform.

2.3 Commercial particulars — your subscription plan, pricing (including any Founder pricing), and onboarding (Build) services — are set out in your order or separate services agreement, which is incorporated into these Terms by reference.

3. The Platform and licence

3.1 Subject to these Terms and payment of applicable fees, VulaCheck grants the Client a non-exclusive, non-transferable, revocable right to access and use the Platform for its internal business of providing credit as a registered credit provider.

3.2 VulaCheck may improve, modify or add to the Platform from time to time. Material reductions in core functionality will be notified in advance where reasonably practicable.

4. Your status and responsibilities

4.1 You are an independent credit provider. You warrant that you are, and will remain, registered with the National Credit Regulator, and that you will comply with the NCA, POPIA, FICA and all other laws applicable to your business.

4.2 VulaCheck is the provider of software and is not a credit provider, is not registered with the National Credit Regulator as such, and is not a credit bureau. VulaCheck does not lend, does not make credit decisions, and is not a party to any credit agreement between you and your borrowers.

4.3 You are solely responsible for your lending decisions, your loan products and their compliance with the NCA (including interest and fee caps and affordability assessment), the accuracy of the information you enter, and your relationship with your borrowers and with credit bureaus and payment providers.

4.4 You are responsible for the security of your account credentials and for the acts and omissions of your users.

5. Acceptable use

5.1 You must not use the Platform unlawfully, or to provide credit in contravention of the NCA, or to process personal information unlawfully.

5.2 You must not (and must not permit any person to) reverse engineer, copy, resell, or create derivative works of the Platform; circumvent or test its security; introduce malicious code; or use it to build a competing product.

5.3 VulaCheck may investigate suspected breaches of this section and may suspend access where it reasonably believes the Platform is being used unlawfully or in a way that threatens its security or other clients.

6. AI-assisted features

6.1 The Platform includes AI-assisted features (including document extraction and credit analysis). These are decision-support tools only. Outputs may contain errors and must be reviewed by you.

6.2 You retain sole responsibility and accountability for every lending decision and for compliance with the NCA, regardless of any AI-generated output. VulaCheck gives no warranty that any output is accurate, complete, or suitable for a particular decision.

7. Fees and payment

7.1 You will pay the subscription and usage fees for your plan, as set out in your order. Fees are processed through our payment provider (PayStack). Unless stated otherwise, fees are exclusive of VAT.

7.2 Where a credit-based feature applies, credits are consumed as used and unused credits do not roll over unless your plan states otherwise.

7.3 We may suspend access for non-payment after reasonable notice. We may change fees on reasonable prior notice; changes take effect from your next billing cycle.

8. Data protection

8.1 In respect of personal information of your applicants and borrowers, you are the Responsible Party and VulaCheck is your Operator. That relationship is governed by the DPA, which forms part of these Terms.

8.2 You warrant that you have issued the notices and obtained the consents required of a Responsible Party under POPIA for the personal information you process through the Platform.

8.3 VulaCheck’s processing of personal information for which it is itself the Responsible Party (such as your account contacts and Platform usage data) is described in the VulaCheck Platform Privacy Policy.

9. Intellectual property and Client Data

9.1 VulaCheck (and its licensors) own all intellectual property in the Platform. No rights are granted except as expressly set out in these Terms.

9.2 As between the Parties, the Client owns its Client Data. The Client grants VulaCheck the rights to host, process and transmit Client Data as necessary to provide the Platform and as set out in the DPA.

9.3 VulaCheck may use de-identified or aggregated data that cannot be re-linked to a person to operate, secure and improve the Platform.

9.4 The Client grants VulaCheck a limited licence to use the Client’s name and logo to provide and brand the Client’s tenant environment.

10. Confidentiality

10.1 Each Party will keep the other’s confidential information confidential and use it only to perform under these Terms, except where disclosure is required by law. This clause survives termination.

11. Availability, support and changes

11.1 VulaCheck will use reasonable efforts to make the Platform available and to provide support per your plan. The Platform may be unavailable during maintenance or for reasons beyond our reasonable control.

11.2 No specific availability or response-time commitment applies unless expressly agreed in writing in your order.

12. Warranties and disclaimers

12.1 Each Party warrants that it has the authority to enter into these Terms.

12.2 Except as expressly stated, and to the maximum extent permitted by law, the Platform is provided “as is” and VulaCheck disclaims all implied warranties, including fitness for a particular purpose. VulaCheck does not warrant that the Platform will be error-free or uninterrupted, or that any AI output is accurate.

13. Limitation of liability

13.1 Neither Party is liable for indirect, incidental, special or consequential loss, or loss of profit, revenue, goodwill or data, arising out of these Terms.

13.2 VulaCheck’s total aggregate liability arising out of or in connection with these Terms is limited to the fees paid by the Client to VulaCheck in the 12 months preceding the event giving rise to the claim.

13.3 Nothing in these Terms limits liability that cannot be limited or excluded under applicable law, including liability for fraud or gross negligence.

14. Indemnity

14.1 The Client indemnifies VulaCheck against losses, claims, fines and costs arising from the Client’s breach of these Terms or of any law applicable to its lending business (including the NCA, POPIA and FICA), or from any credit agreement between the Client and its borrowers.

15. Term, suspension and termination

15.1 These Terms apply for as long as you have an account or use the Platform, and continue for the duration of your subscription as set out in your order.

15.2 Either Party may terminate for material breach not remedied within [14] days of written notice. VulaCheck may suspend or terminate immediately where required by law or where continued use poses a security or legal risk.

15.3 On termination, your right to use the Platform ends. Return and deletion of personal information is handled under the DPA. You remain responsible for retaining records you are required by law to keep.

16. Changes to these Terms

16.1 We may update these Terms. Material changes will be notified and a new version published with a new version number and effective date. Where continued use requires acceptance of a new version, the Platform will record your acceptance (including version, timestamp and the accepting user) before continued use.

17. General

17.1 These Terms are governed by the laws of the Republic of South Africa, and the Parties submit to the jurisdiction of the South African courts.

17.2 You may not assign these Terms without our consent. We may assign to an affiliate or in connection with a reorganisation or sale of our business.

17.3 Neither Party is liable for delay or failure caused by events beyond its reasonable control.

17.4 If a provision is unenforceable, the remainder continues in effect. These Terms, the DPA, the Privacy Policy and your order are the entire agreement between the Parties.

17.5 Questions about these Terms may be directed to fidel@vulacheck.com.