Device Financing Program — governing your purchase, possession, and use of any Device financed through our Hire Purchase Loan facility, including transparency, device management, and dispute resolution provisions.
Please read this End User License Agreement ("Agreement") carefully before purchasing, receiving, accessing, or using any smartphone, laptop, computer, television, refrigerator, or other personal or household electronic device (collectively, the "Device") financed by Neofin Hire Purchase Pvt. Ltd. (Formerly Batas Hire Purchase Pvt. Ltd.) (the "Company", "we", "our", or "us") under its Hire Purchase Loan facility.
This Agreement governs your purchase, possession, access to, and use of the Device financed through Equal Monthly Installments ("EMIs"). By selecting "I Agree", signing the Financing Agreement, purchasing, receiving, accessing, or using the Device, you ("User", "Customer", or "you") acknowledge that you have read, understood, and agree to be legally bound by this Agreement, the Hire Purchase Loan Agreement, the Loan/Facility Sanction Letter, the EMI Schedule, all schedules, annexures, disclosures, and related financing documents, and any lawful amendments made in accordance with this Agreement.
This Agreement constitutes a legally binding contract between you and the Company.
This Agreement governs your purchase, possession, access to, and use of any Device financed through the Company's Hire Purchase Loan facility, and the related terms of transparency, device management, and dispute resolution described below.
By selecting "I Agree", signing the Financing Agreement, or using the Device, you confirm that you have read and understood this Agreement, you agree to all terms and conditions contained herein, you consent to the installation and operation of any Device Management Solution required for loan administration, and you acknowledge that this Agreement is legally enforceable against you.
Legal ownership of the Device shall remain vested in the Company until all EMIs, interest, fees, charges, penalties, and other amounts payable under the Financing Agreement have been paid in full.
Until full and final settlement: you may possess and use the Device subject to this Agreement; the Device may remain subject to administrative controls necessary for loan management; the Company may exercise its rights only in accordance with this Agreement and applicable law; and you shall not acquire unrestricted ownership rights in the Device.
Within fifteen (15) Business Days after receipt of full and final payment of all outstanding amounts, the Company shall permanently remove all administrative locks and Device Management controls, where applicable; cease loan-related administrative control over the Device; and, upon request, issue a No Objection Letter (NOC) confirming that the Device is free from the Company's financing claim.
If you make an early repayment or foreclosure payment, such payment shall be treated as full settlement only after the Company has received and processed your written notice of prepayment.
The Device may display system-generated notifications such as "This device belongs to your organization" or references to "Work Profile" or "Organization-Managed Mode". These notifications are generated by the Android operating system or the Device Management Solution.
Such notifications do not mean that the Company owns your personal information.
They do not indicate that the Company monitors your personal content.
They are technical notifications required for loan-related device administration.
The wording and appearance of such notifications are controlled by the operating system and not drafted by the Company.
The Company's administrative access is limited to functions necessary for financing administration, including payment reminders, security authentication, and remote locking or unlocking in accordance with this Agreement.
You shall use the Device only for lawful personal purposes. You shall not, without prior written authorization:
Unauthorized modification or tampering may result in warranty cancellation, suspension of device access, repossession, penalties, and/or legal action as permitted by law.
Until ownership is transferred to you under Clause 4, you shall not sell, assign, lease, pledge, mortgage, encumber, or otherwise dispose of the Device without the Company's prior written consent.
You agree to pay all EMIs and other amounts due under the Financing Agreement on or before their respective due dates.
A Grace Period of three (3) calendar days shall apply after each due date. During the Grace Period, the Device shall not be locked solely due to non-payment; payment reminders may be sent; and applicable late payment interest may accrue in accordance with the Financing Agreement.
The Company shall send at least one payment reminder before the due date and one additional reminder during the Grace Period before taking restrictive action.
You may prepay or foreclose the loan by providing prior written notice to the Company. Applicable prepayment or foreclosure charges, if any, shall be as disclosed in the Financing Agreement.
Before execution of the Financing Agreement, the following shall be clearly disclosed to you: cash price of the Device; total financed amount; applicable annual interest rate, or confirmation of zero-interest financing; EMI amount; number of installments; and all applicable fees, charges, penalties, and recovery costs.
No undisclosed fee, charge, or penalty shall be imposed unless permitted by applicable law and disclosed in accordance with this Agreement.
| Fee type | Amount / basis | When charged |
|---|---|---|
| Interest | As disclosed in the Financing Agreement (annual rate disclosed) | Included in every EMI |
| Late payment / penal interest | As disclosed in the Financing Agreement, per Nepal Rastra Bank guidance | On overdue principal past due date |
| Device management fee | As disclosed in the Financing Agreement, with advance disclosure | As applicable |
| Prepayment / foreclosure fee (if any) | Within limits set in Financing Agreement | Only on early full settlement |
| Repossession / recovery cost | Actual, reasonable cost, as per Clause 9 | After Default and cure process |
| Credit report / CIB fee | As charged by the Credit Information Bureau (if applicable) | As incurred |
A Default shall occur if any EMI remains unpaid after expiry of the Grace Period, or you materially breach this Agreement or the Financing Agreement.
Before restricting, locking, deactivating, or repossessing the Device, the Company shall provide a written Notice of Default through SMS, email, mobile application notification, or another recorded communication channel, specifying the overdue amount, overdue principal, accrued interest, penal interest, fees and charges, and the period within which the Default may be cured.
If the Default is not cured within the specified period, the Company may remotely restrict or lock the Device, subject to applicable law. The Company shall not permanently disable or repossess the Device without following the notice and recovery procedures set out in this Agreement.
Upon payment of all overdue EMIs, interest, penal interest, fees, and charges, the Company shall restore access to the Device. Ordinarily, access shall be restored within two (2) Business Days after full settlement of all outstanding dues. Partial payment shall not automatically result in removal of the Device restriction unless otherwise agreed by the Company in writing.
If the Default continues after notice and expiry of the cure period, the Company may repossess the Device in accordance with applicable law. You shall reasonably cooperate with authorized representatives of the Company during inspection or repossession procedures. Actual and reasonable repossession or recovery costs incurred by the Company may be recovered from you as permitted by law.
If the repossessed Device is sold and the sale proceeds exceed the outstanding loan balance and lawful recovery costs, the surplus amount shall be made available to you after settlement of all dues.
The Company's access to the Device is limited to loan-related device management functions. The Company does not access, collect, store, monitor, or review your personal content, including photographs, contacts, messages, browsing history, call logs, or personal files.
The Company shall collect only such Personal Data as is reasonably necessary for financing administration, device management, regulatory compliance, and dispute resolution.
Personal Data may be disclosed only to: regulatory authorities; the Credit Information Bureau (CIB); authorized service providers bound by confidentiality obligations; persons authorized by you in writing; or where disclosure is required by law or court order.
The Company shall implement reasonable administrative, technical, and physical safeguards to protect Personal Data from unauthorized access, disclosure, alteration, misuse, or destruction. The Company will employ commercially reasonable security measures but cannot guarantee uninterrupted or error-free operation of third-party networks or operating systems.
Subject to applicable law, you may request access to, correction of, or deletion of your Personal Data by contacting the Grievance Redressal Officer.
You acknowledge that your payment history and loan performance may be reported to the Credit Information Bureau (CIB) of Nepal and bank and financial institutions in accordance with applicable laws and regulatory requirements. Timely repayment may positively affect your credit history, while Default may adversely affect your credit standing.
You are responsible for the safe custody and protection of the Device. If the Device is lost, stolen, damaged, destroyed, or becomes unusable, you shall notify the Company immediately in writing; report theft or loss to the appropriate authority where applicable; remain liable for all outstanding loan obligations; and bear repair or replacement costs unless covered by insurance.
The Company shall not be liable for loss, theft, damage, malfunction, or destruction of the Device. Obtaining insurance or protection coverage for the Device is your responsibility, unless separately offered by the Company.
The Device is covered only by the manufacturer's or distributor's standard warranty, if applicable. The Company does not provide any separate warranty unless expressly stated in writing. The manufacturer's warranty may not apply where damage results from unauthorized modification, tampering, misuse, negligence, improper handling, or breach of this Agreement.
You agree to indemnify and hold harmless the Company, its directors, officers, employees, representatives, affiliates, successors, assigns, and business partners from any claims, losses, damages, liabilities, costs, and expenses, including reasonable legal fees, arising from your use or misuse of the Device; your breach of this Agreement; your breach of the Financing Agreement; your negligence, misconduct, act, or omission; or your violation of applicable law. This obligation shall survive termination of this Agreement.
To the fullest extent permitted by the laws of Nepal, the Company's total aggregate liability arising out of or in connection with this Agreement shall not exceed the total fees and charges actually paid by you under the Financing Agreement during the twelve (12) months immediately preceding the event giving rise to the claim.
This limitation shall not apply to liability that cannot lawfully be excluded, including liability for death, personal injury, fraud, or wilful misconduct. Neither party shall be liable for indirect, incidental, consequential, special, exemplary, or punitive damages.
| Level | Contact | Response | Resolution |
|---|---|---|---|
| 1 — Customer Service Centre | Phone / email / in-app chat | Acknowledged within 2 Business Days | Resolved within 7 Business Days |
| 2 — Grievance Redressal Officer | Mr. Ram Chandra Basaula | Acknowledged within 2 Business Days | Resolved within 15 Business Days |
| 3 — Regulatory authority | Nepal Rastra Bank, Consumer Protection & Grievance Hearing Unit | Per regulator's process | Per regulator's process |
If the matter remains unresolved, either party may propose mediation in Kathmandu before initiating formal legal proceedings, with costs shared equally. If the dispute is not resolved within sixty (60) days of the above process, either party may initiate proceedings before the Kathmandu District Court. Nothing in this Agreement limits your right to file a complaint with Nepal Rastra Bank or any other competent authority under the laws of Nepal.
Notices under this Agreement may be sent by SMS, email, mobile application notification, postal mail, or any other recorded communication channel. Notices shall be deemed received immediately upon transmission for SMS or in-app notifications; twenty-four (24) hours after transmission for email; and seven (7) Business Days after dispatch for postal mail. You are responsible for keeping your contact information updated.
The Company may amend this Agreement from time to time. Non-material amendments may be published on the Company's website or notice board. Any material amendment that increases your obligations or reduces your rights shall be communicated at least seven (7) days before it becomes effective and shall apply prospectively only. If you do not agree to a material amendment, you may terminate this Agreement by paying all outstanding amounts in full, with no additional penalty or fee.
This Agreement shall remain effective until all obligations under the Financing Agreement have been fully discharged, and shall automatically terminate upon full and final settlement of all outstanding amounts, subject to Clause 4. The Company may terminate this Agreement following a continuing Default and compliance with the notice procedures in Clause 9. The provisions relating to data security, indemnity, limitation of liability, dispute resolution, and outstanding payment obligations shall survive termination.
Neither party shall be liable for failure or delay in performing obligations due to events beyond its reasonable control, including natural disasters, epidemics, pandemics, war, civil unrest, governmental actions, or major network or infrastructure failures — other than payment obligations already due.
The Company may assign or transfer its rights and obligations under this Agreement, including to another financial institution, by providing written notice to you. You may not assign or transfer your rights or obligations without the Company's prior written consent.
If any provision of this Agreement is held invalid or unenforceable by a court or through mediation, the remaining provisions shall remain in full force and effect, and the invalid provision shall be replaced with a valid one that best matches its original intent. No failure or delay in exercising any right shall constitute a waiver of that right.
This Agreement may be made available in both English and Nepali. In the event of any inconsistency between the English and Nepali versions, the Nepali version shall prevail for interpretation before the courts and regulatory authorities of Nepal, unless otherwise required by applicable law.
This Agreement, together with the Financing Agreement and related documents, constitutes the entire agreement between you and the Company regarding the Device Financing arrangement and supersedes all prior discussions, representations, and understandings relating to the same subject matter.
This Agreement shall be governed by and construed in accordance with the laws of Nepal.
For any queries or assistance regarding this Agreement, please reach out to us:
By purchasing, receiving, accessing, or using a Device financed by the Company, you acknowledge that you have carefully read, understood, and accepted this Agreement and the Financing Agreement.
You further acknowledge that, before exercising any right to restrict, lock, deactivate, repossess, or initiate recovery proceedings in respect of the financed Device, the Company shall comply with the applicable notice requirements, Grace Period provisions, and grievance redressal procedures set out in this Agreement.