Who will bear the cost of the legal action(s) taken against an Issuer (SME)?

• Related Articles

• When will the SME who has defaulted on their repayment obligation be brought to court?

  We will only consider taking the SME to court if our attempts to engage the SME verbally or in writing (which includes the serving of legal documents) for repayments had failed. Nevertheless, as there are fees payable to the court if we initiate ...

• What is the contractual agreement between Investors and the Issuer (SME)?

  When the Issuer (SME) accepts the offers, a provisional contract is formed between the Issuers and each allocated investor. Both the Issuer and Investors are bound by the terms of the contract note executed in this manner, having endorsed the ...

• How will late interest repayments charged to Issuer (SME) be accounted and paid for to investors?

  Whenever an Issuer (SME) makes a repayment (late), that money will go towards paying the late interests owed to the Investors first. Afterward, the remaining money will be used to clear the outstanding interests and principal amounts of the ...

• What are the processes that MoolahSense has in place to recover the late repayment from an Issuer (SME)?

  MoolahSense has a strict collection workflow to ensure delinquent Issuers pays back their overdues. Below is a chronological order of activities that will take place from T+1 (Where T is the scheduled payment date) From T+1 to T+30: Calling and ...

• Will I be compensated for an Issuer (SME) who did not fulfill their repayment obligation?

  A late payment interest of 30% p.a. (calculated on a daily rest basis) on the arrears will be payable by the Issuer (SME) to the Investors. This will start to accrue one day after the repayment due date and continue until the overdue installment ...