Version: August 2024

YOUR USE AND CONTINUED USE OF THE ADMIT PLATFORM AND OUR SERVICES INDICATES THAT YOU HAVE BOTH READ AND ACCEPT THESE TERMS AND CONDITIONS AND ALL TERMS AND CONDITIONS AND NOTICES INCORPORATED HEREUNDER BY REFERENCE (I.E THAT ALSO FORM PART OF THESE) (“T&Cs”), INCLUDING:

Privacy Notice

ADMiT General Terms of Use

1) INTRODUCTION TO ADMIT AND THE USE OF YOUR CONSUMER SCORES/PROFILES 

1.1) ADMiT is founded on the belief that a credit score – or lack of one - should not be a barrier to financial inclusion.

1.2) We provide Consumers with the ability to create their own Consumer Profiles, through completing various free and voluntary Assessment/s designed to understand and analyse their behaviour and preferences. These Assessment/s are then used to generate an alternative risk-based Consumer Score/s.

1.3) Consumers may then elect for their Consumer Score/s, along with other Consumer Data, to be shared with/accessed by other third-party providers (being Authorised Providers) for use in the Consumer’s application/s for products and services. This is especially useful, for example, where a Consumer does not yet have a formal Credit Score or where additional information may be needed to assist the Authorised Provider in assessing your applications.

1.4) The third-party providers, in these instances, are required to be registered with us as clients (Authorised Providers) and are charged a fee to access the Consumer Scores. 

1.5) Principa’s role is merely to provide the ADMiT Platform and Services along with certain related ancillary and support services. 

1.6) PRINCIPA IS NOT AN INTERMEDIARY TO OR PARTY TO ANY OF THE ACTUAL/FINAL TRANSACTIONS, PRODUCTS OR SERVICES WHICH MAY (OR MAY NOT) ARISE FROM OR RELATE TO THE USE OF OR RELIANCE ON THE CONSUMER SCORE OR THE CONTENT INCLUDED IN THE CONSUMER PROFILE. THESE WILL ALWAYS BE BETWEEN YOU, THE CONSUMER, AND THE RELEVANT END THIRD-PARTY (AUTHORISED) PROVIDER/S.

2) DEFINITIONS

For the purposes of our T&Cs: 

“ADMiT Platform”: means the platform and database hosted, developed, and managed by Principa, consisting of the Consumer Profiles and various related support services, accessible to Authorised Providers and Consumers, and includes any website and/or any related (and/or enhanced) mobi-sites, software applications and/or any other platform or portals specifically made available by Principa in relation to the Services.

“Authorised Provider/s: means the third-party providers registered on the ADMiT Platform, to access the features and functionality of the ADMiT Platform including accessing and utilising the Consumer Scores for the purposes set out herein or any other legal purpose.

“Assessment”: means the test/s (including psychometric tests) (being a set of predetermined questions) provided to and taken by Consumers, through the ADMiT Platform, in order to generate a Consumer Score.

“Consumer Data”: means all other information and data variables related to a Consumer, besides the Consumer Score, housed on the ADMiT Platform including information provided by the Consumer and/or from other sources.

“Consumer Profile”: means the Consumer information housed on the ADMiT Platform, consisting of the Consumer Score and Consumer Data, which is viewed/consumed by Authorised Providers.

“Consumer Score”: means the risk rating assigned to a Consumer based on the Consumer Data and / or through the completion of the Assessment.

“Data Protections Laws”: means the Protection of Personal Information Act 4 of 2013 (“POPIA”) and/or applicable binding data protection law, including any related regulations, guidance and codes of practice issued by the Information Regulator or relevant supervisory authority from time to time.

“Performance Data”: means data related to the Consumer’s performance in terms of an agreement entered into between a Consumer and Client as well as in relation to the Services.  

“Personal Information”: includes Personal Information and Special Personal Information, as defined under Applicable Law.

“Principa”, “us”, “our” or “we”: means  the owner of the ADMiT Platform; Principa Decisions (Pty) Ltd (Registration number: 1999/012713/07)) having its registered address at Corner of Century Way and Century Blvd, The Colosseum Building Office 1002 (MO6) Mezzanine Level, Century City, Cape Town, 7441, email: legal@principa.co.za , Telephone +27 21 680 6000  and (to the extent relevant and legally permissible) includes all of our directors, officers, employees, representatives, agents, shareholders, affiliates, subsidiaries, holding companies, related entities, advisers, sub-contractors, service providers and suppliers.

“Parties”: Principa and Consumer, and each a Party.

“Services”: includes the provision of all of the services available through the ADMiT Platform, including the platform/website itself, the provision of ADMiT links/invitations and Assessments to Consumers, the rendering of the Consumer Profiles, the hosting and provision of the ADMiT Platform, the sharing of Consumer Scores with Authorised Providers and various related and ancillary services.

“You” “Your” or “User” or “Consumer”: means, any person who created an account, carries out an Assessment and/or uploads any information onto the ADMiT Platform or uses our Services.

3) CONSUMER DISCLOSURES 

3.1) These T&Cs outline the Services that we provide through the ADMiT Platform and sets out our obligations to you as a service provider. They are binding and enforceable between Principa and every Consumer that uses the Services on, browses, accesses, or becomes a registered user on the ADMiT Platform, for whatever purpose. 

3.2) FURTHER THESE T&CS SET OUT IMPORTANT INFORMATION ON HOW WE LIMIT OUR AND OTHER THIRD PARTIES’ LIABILITY TOWARDS YOU, PLACE CERTAIN ASSUMPTIONS OF RISK ON YOU (INCLUDING CERTAIN UNDERTAKINGS AND INDEMNIFICATIONS) AND OUTLINE HOW WE MAY PROCESS YOUR PERSONAL INFORMATION. IT IS THEREFORE IMPORTANT THAT YOU READ AND UNDERSTAND THE T&CS BEFORE YOU MAKE USE OF OUR SERVICES. 

3.3) IF YOU DO NOT WISH TO BE LEGALLY BOUND BY THESE T&CS IN THEIR ENTIRETY, THEN YOU MUST NOT ACCEPT THESE T&CS, IN WHICH CASE YOU CANNOT USE OUR SERVICES.

3.4) NOTHING IN THESE T&CS IS INTENDED TO CONTRAVENE THE APPLICABLE PROVISIONS OF THE CONSUMER PROTECTION ACT, 2008, THE NATIONAL CREDIT ACT, 2005 OR ANY SIMILAR PIECES OF LEGISLATION IN ANY APPLICABLE JURISDICTION. THESE T&CS MUST BE TREATED AS BEING QUALIFIED, TO THE EXTENT NECESSARY, TO ENSURE COMPLIANCE WITH ALL APPLICABLE LAWS.

3.5) We recommend that you save a copy of these T&Cs for your future reference.

4) USE OF AND REGISTRATION ON THE ADMIT PLATFORM  

4.1) The use of the ADMiT Platform is subject to our ADMiT General Terms of Use [link], which shall be deemed to be incorporated hereunder. 

4.2) Our Services are only intended to be used by persons aged 18 years or over and who have full legal capacity and by your continued use of the Services you warrant this fact. 

4.3) Our Services may only be used for your own personal use and not for any commercial purposes.

4.4) In order to use and access our Services you need to become a registered User by completing the registration process, on our ADMiT Platform, where you will be prompted to provide us with login details and submit certain Personal Information (in line with our Privacy Notice). The process allows you to transition from being a browser to being able to procure the Services.

4.5) You agree and warrant that our Services and your login details will only be used for your own personal use and not to be disclosed to any other third party or used on anyone else’s behalf. If you become aware of, or reasonably suspect, any unauthorised use of or access to your account or login details, you need to notify us of this immediately. 

5) PROVISON OF OUR SERVICES 

5.1) All of our Services are available to Consumers free of charge. 

5.2) The content on the ADMiT Platform and any information that we provide to you, as part of our Services, is not intended to constitute advice.

5.3) Whilst the Services are intended to support Consumers to access products, Principa does not guarantee this. 

5.4) In fact, you acknowledge and agree that:

5.4.1) Principa does not guarantee that any third-party provider will provide financing or any products and/or services to you and note that Principa is not involved in the decision taken by any third-party provider and that the Consumer Score is not the sole the determinant as to whether a third-party grants you any products or services;

5.4.2) any agreement in relation to the provision of any products and/or services will be between you and the third-party provider;

5.4.3) the procuring of such products and/or services may be subject to additional fees and charges;

5.4.4) Principa will not be held liable in connection with any third-party or Authorised Provider’s products and/or services and that you indemnify Principa against any damages, loss or claims in this respect; 

5.4.5) the procuring of third-party products and/or services shall in no way undermine or obviate your obligations under these T&Cs;

5.4.6) You are in no way obliged to enter into any agreements with or purchase any particular products or services from any third-party provider/Authorised Providers; 

5.4.7) you authorise Principa to disclose information, related to you/the Services, your Consumer Score/Profile to our Authorised Providers upon their request. To this end, we will only share such information with Authorised Providers where they confirm that you have requested and agreed to such disclosure;

5.4.8) you authorise Principa to receive the Performance Data for the purposes of the Services (in particular for the purposes of Principa running general/aggregated analytics on the accuracy and functionality of the Assessments/Consumer Profiles); and

5.4.9) any dispute with any Authorised Provider in connection with any potential or actual products and/or services shall be resolved between the Authorised Provider and you.  Notwithstanding the provisions under this Agreement, it is not Principa’s obligation to resolve or assist in any way in the resolution of such dispute.

5.5) It must be stressed that our Services (in particular the Consumer Score/s) are not the sole determinant of any consumer’s eligibility for products or services.

5.6) The provision of any/all third party’s products or services are granted entirely at their discretion and subject to their own requirements, assessment processes and procedures and terms and conditions.

6) CONSUMER SCORES

6.1) As the Consumer you will not receive your actual Consumer Score itself but rather a derivative thereof.

6.2) All Consumer Scores may be updated every 6 (six) months by the Consumer, or such other period as determined by Principa, from time to time.  

6.3) This does not mean that the Consumer Score will expire but rather that Consumers will be entitled to complete a new Assessment and generate a new Consumer Score every 6 (six) months (or such other period as specified).

6.4) We do not guarantee and shall not be liable for the accuracy of the Consumer Score, or any information provided to you as part of our Services – which is only as accurate, complete and up to date as the information supplied to us by you or any other third-party, we use to obtain this information. You understand and acknowledge that we do not check the information we receive from third-parties for accuracy or completeness. Further we cannot amend or alter the results of your Consumer Score at your request. 

7) SCOPE OF OUR SERVICE 

7.1) By using our Services, you understand and agree to us providing the following (but not only) Services:

7.1.1) gathering and analysing certain information (personal and otherwise) in order to render our Services and, in particular, to carry out the Assessment/s and to generate a Consumer Score;

7.1.2) recording, holding and continuously maintaining and updating your Consumer Profile on our systems and making this information available to you and/or to Authorised Providers on request; 

7.1.3) analysing and profiling your Consumer Score and Consumer Data and/or to making tools available to better understanding and managing your profile and in order to identify and share, on request, your Consumer Score with Authorised Providers;

7.1.4) verifying your information against any relevant sources; and

7.1.5) using your information and any other data that you provide or make available to us for the purposes set out in these T&Cs, including our Privacy Notice, which expressly forms part of these T&Cs.

8) DISCLOSURE OF PERSONAL INFORMATION

8.1) In order to provide our Services, and specifically render the Consumer Score/Profile, you will be required to provide us with certain information including Personal Information, which may include but not limited to Special Personal Information as defined under Data Protection Laws. 

8.2) The Consumer:

8.2.1) by submitting any information to Principa, in any form, acknowledges that such conduct constitutes an unconditional, specific and voluntary consent to process its Personal Information (which may include Special Personal Information) for any and all purposes related to these T&Cs, the provision of our Services and all ancillary matters related thereto, including, but  not limited to  receiving and analysing the results of your Assessment to assign you with a Consumer Score;

8.2.2) agrees that these T&Cs shall be subject to Principa’s Privacy Notice which may be accessed on its ADMiT website: www.admit.credit and states, amongst other things, that the Consumer, as far as is legally permissible, agrees: (i) to maintain and update its information; (ii) to the transfer of its information to foreign countries and third parties (as far as is legally permissible); and (iii) to indemnify Principa from any unintentional disclosures; 

8.2.3) authorises Principa, to share its Personal Information with any third parties (including but not limited to other Principa’s group companies) including where it is in the legitimate interest of Principa to do so and agrees that such third parties may process its Personal Information for reasons related to Principa or the third party’s legitimate interests;

8.2.4) authorises Principa, to share its Consumer Score with the Authorised Providers subject to the Consumer requesting or authorising the Authorised Provider to do so; and

8.2.5) consents to Principa contacting and requesting information from any third party to obtain any information relevant to these T&Cs and subject to applicable law, it agrees and understand that the information given in confidence to Principa by a third party in respect of the Consumer will not be disclosed to the Consumer.

9) ADDITIONAL SUPPORT SERVICES AND REWARDS 

9.1) As part of its Services, Principa will offer Consumers access to and/or facilitate a range of additional support services.

9.2) These services will include the ability to:

9.2.1) Qualify for Certain Rewards (e.g. vouchers):

9.2.1.1) You will be invited to sign up for  our Consumer Rewards Programme where, if you meet certain conditions, you can earn and redeem rewards with our carefully selected partners. In such instances, you will be requested to follow certain prompts  to register with our reward partners (based on and subject to their terms of service) in order to receive your rewards/incentives).

9.2.1.2) Please note that in certain instances some of the rewards/incentives offered may be conditional upon an Authorised Provider being granted preferential access to your Consumer Score, meaning such Authorised Provider will be granted sole access to your Consumer Score for a limited prescribed time, where such Authorised Provider has distributed an incentive to you.  

9.2.2) Qualify for Alternative Payment/Transactional and Other Support Services:

9.2.2.1) As part of seeking to support greater financial inclusion, Principa has teamed up with certain carefully selected partners to support Consumers who, for example, do not have access to a bank account or require access to alternative transactional platforms or services in order to procure/access third-party products and/or services that they may qualify for. 

9.2.2.2) In these instances: 

9.2.2.2.1) we may require additional information in order to provide, authorise and/or execute these additional support services to you; and 

9.2.2.2.2) you will be required to agree to and be bound by our partners’ terms of service, privacy policies etc.  and/or to provide them with any additional information that they may require to execute such services.

10) LICENCES

10.1) In using the Services, you licence us the right to use any information, data, materials or other content (collectively “Content”) that you provide to us through the ADMiT Platform or that we generate or obtain on your behalf as part of the Services (such as your Consumer Score/Profile) and agree that we can use, modify, display, distribute and create new material using the Content so that we may provide our Services to you and for any other purposes set out in these T&CS, including our Privacy Notice.

10.2) In submitting the Content, you confirm and agree that you are the owner of the Content and expressly agree that, without any particular time limit, and without the payment of any fees, we may use the Content for the purposes set out in these T&Cs.

11) LIMITATION OF LIABILITY AND INDEMNITY

11.1) As far as is legally permissible:

11.1.1) without derogation from any other provisions contained herein, we shall not be responsible to you or any third party for any loss, damages or claims (howsoever arising) under or in connection with:

11.1.1.1) the use or inability to use the ADMiT Platform or our Services;

11.1.1.2) any products, data, information or services resulting from, purchased or obtained or messages received, or transactions entered into, through or from the Services or accessed through our ADMiT Platform including use of or reliance on any content displayed on or made available through our ADMiT Platform; 

11.1.1.3) the use (including any unauthorised use) by Authorised Providers of your Consumer Score/Profile; 

11.1.1.4) any unauthorised access to or alteration of your transmissions or data; 

11.1.1.5) any inaccuracy or incompleteness of any information received by you or by us through our ADMiT Platform or as part of our services;

11.1.2) Principa shall not be liable for any direct, indirect, incidental, punitive, special or consequential loss or damages;

11.1.3) You hereby indemnify Principa against any loss, claim or damage, of whatsoever nature, which may be suffered by yourself or any third party, arising from your use of the Services and/or arises from your breach of any of the provisions of these T&Cs or our policies. 

11.2) As far as is legally permissible, we exclude all warranties and representations that might apply in relation to the use of the ADMiT Platform and our Services, whether express or implied.

12) BREACH AND TERMINATION

12.1) Where you commit a breach of these T&Cs, we reserve the right to terminate your use of the ADMiT Platform and/or our Services immediately on written notice (to the email address/telephone   provided by you when you registered on the ADMiT Platform or any email address subsequently provided and verified).

12.2) If you no longer wish to receive our Services, you can terminate your account by: emailing us at support@admit.credit.

12.3) Please note that your account will be deactivated within 30 days of the date of your deactivation/receipt of your termination notice.

12.4) Please note that, subject to applicable law, once deleted, your account cannot be recovered, and you will not be able to access any information that we hold about you through our Platform. We may, however, retain your information to the extent necessary or needed, as provided for in our Privacy Notice. 

12.5) Please note that if you withdraw your consent to the processing of your Personal Information, access to our ADMiT Platform and the Services will be suspended or terminated in accordance with our Privacy Notice.

13) FORCE MAJEURE

13.1) The failure of either Party to fulfil any of their obligations under these T&Cs shall not be considered to be a breach of, or default of these T&Cs provided that such inability arises from an event of force majeure, act of God, act of State, riot, insurrection, strike, shortages, sanction, boycott, embargo, or any other circumstance beyond either Party's reasonable control (“Force Majeure”), and the Parties affected by such event has taken all reasonable precautions, due care and reasonable alternative measures to meet these T&Cs and has informed the other, as soon as is reasonably possible, about the occurrence of such an event.

13.2) During the subsistence of the Force Majeure, the performance of both Parties under these T&Cs shall be suspended, on the condition that either of them may elect to cancel any services should the event of Force Majeure continues for more than 21 (twenty-one) days by giving written notice to the other.

14) QUERIES AND COMPLAINTS

14.1) If you have a query in respect of the Services, please contact us directly at support@admit.credit  

14.2) Without derogating from the dispute provision under clause 15, if you have a complaint  relating to the Services provided by us (that does not amount to a “dispute between the Parties concerning the T&Cs or any issue arising therefrom”), please email the email address indicated in 14.1 above, whereafter we will seek to resolve your complaint within 15 business days of receipt of your complaint. 

14.3) Where we fail to resolve your complaint in line with the above Complaints Procedure, you are entitled to take your matter up with the Consumer Goods and Services Ombud, whose details and the relevant processes can be accessed on at: http://www.cgso.org.za/

15) LAW, JURISDICTION, ARBITRATION

15.1) These T&Cs shall in all respects be governed by and construed under the laws of South Africa.

15.2) The Parties hereby consent and submit to the non-exclusive jurisdiction of the High Court of South Africa, Western Cape Division, Cape Town, in any dispute arising from or in connection with these T&Cs.

15.3) Should any dispute arise between the Parties concerning the T&Cs or any issue arising therefrom, the Party disputing the T&Cs shall notify the other Party of such dispute in writing. Each Party must make every effort to resolve the dispute in good faith within 30 (thirty) days of the date of the forementioned written.

15.4) Failing such a resolution, and if the dispute is arbitrable in law, either Party shall have the right to require that the dispute be referred to arbitration and that Party shall notify the other Party in writing of such requirement. Arbitration shall be held in Cape Town.

15.5) The dispute shall be finally resolved in accordance with the Rules of the Arbitration Foundation of Southern Africa by one Arbitrator appointed by said Foundation. The decision resulting from arbitration shall be final and binding on the Parties and may be made an Order of any court of competent jurisdiction.

15.6) The provisions of this clause shall not preclude any Party from access to an appropriate Court of Law for interim relief in the form of an interdict, mandamus or order for specific performance pending the outcome of arbitration. 

16) NOTICES FOR LEGAL SERVICE AND CONTACT INFORMATION (DOMICILIUM CITANDI ET EXECUTANDI)  

16.1) For the purposes of legal proceedings and for giving or sending any notice the parties choose the following: 

16.1.1) Principa: the address specified in clause 2; and

16.1.2) You: the contact details/address/es specified when you register on the ADMiT Platform or any updated email address you provide on the ADMiT Platform from time to time.

16.2) All legal processes and notices sent to Principa must be marked for the attention of the Chief Financial Officer and, without derogating from the aforegoing, must include an email to accounts@principa.co.za .

17) GENERAL

17.1) These T&Cs (including all incorporated policies) constitute the whole agreement between the Parties and no variation, addition, deletion, or agreed cancellation of these T&Cs will be of any force or effect unless reduced to writing and signed by both Parties- save for any amendment as per clause 17- which shall be deemed to be agreed and signed by both Parties. 

17.2) You may not cede, assign or otherwise transfer your rights and obligations in terms of these T&Cs to any third party.

17.3) Any failure by us to enforce any of our rights in terms hereof shall not constitute a waiver. Any indulgence, extension of time, relaxation or latitude by a party to the other shall not constitute a waiver of that Party’s rights.

17.4) If any term or condition contained herein is declared invalid, the remaining terms and conditions will remain in full force and effect.

17.5) No remedy hereunder is intended to be exclusive of any other remedy that is otherwise or may in future be available under any law.

18) AMENDMENTS 

We may amend these T&C and/ or any of the documents incorporated hereunder by reference from time to time and without prior notice to you.