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Business Support

Group

Terms and Conditions

The following Terms and Conditions (T & C) represent the general agreement between our Company and the Customers. By applying for any of our services, the Customer agrees that s/he has accepted all the T & C herein.


"The company" - Means BSG Multistream Ltd.

Please read the following T & C very well before signing our Form.

01. Business Support & Credit Programs

  • a. The Customer agrees that any unsecured I.O.U or Business Support facility obtained by him/her remains secured with the Customer’s real or personal property in his/her home, office/shop or business premises, including electrical and/or electronic items.
  • b. This is notwithstanding that there is no other specific agreement to that effect or that the properties are not enumerated or ascertained by the Company.
  • c. By applying for our Business Support Fund (BSF), the Customer agrees that the Company has been vested with a right of entry into the Customer’s home, office/shop and/or business premises in relation to any outstanding credit facility.
  • d. Upon any default by the Customer, the Company shall be entitled to exercise this right of entry by entering into the Customer’s premises to seize or retrieve all such properties and retain them for seven (7) days, within which period the Customer is at liberty to pay and retrieve all such properties.
  • e. If the credit facility remains unpaid after seven days whether formally demanded or not, the Customer agrees that the Company shall be entitled to sell off any such property and use the proceeds to offset the credit facility, including all interest, expenses, and costs.
  • f. Where any Customer obtains BSF or any credit facility which remains unpaid, the Company shall be at liberty to retain the balance in any other account by him/her, Savings or otherwise, and shall be entitled to set-off the balance in any such account to off-set the amount outstanding as BSF.


    • 02. Esusu Savings Scheme (ESS)

  • a. Customer agrees that the Company shall deduct at the end of every month, a sum equal to the equivalent of one daily amount saved by the Customer, as Service Charge on monthly basis or 3.34% of the total amount saved.
  • b. The Service Charge so deducted represents the fee paid by the Customer to our Company every month for the services rendered him/her.
  • c. The Customer operating ESS shall be entitled to withdraw all his/her savings, less the Service Charge.


    • 03. Unserviced Savings Scheme (USS)

  • a. The Customer agrees to visit our office to deposit personally his/her savings daily/weekly or at any time.
  • b. The Company shall not deduct any Service Charge at the end of the month from the USS.
  • c. The Customer shall maintain a minimum balance of N1, 000 in the account at all times.
  • d. This N1, 000 shall be retained by the Company perpetually and cannot be withdrawn by the Customer, unless the Customer wants to close the account. If the Customer wishes to close the account, then the Company it entitled to deduct and utilize this N1, 000 balance as administrative charges.
  • e. The Customer operating USS shall be entitled to withdraw from the account at any time and as many times as he/she desires without any charges. And she/he can also decide to save at anytime or as many times as she/he wants.
  • f. The Customer agrees not to be entitled to any interest on the savings.


    • 04. General

  • a. The Customer shall inform the Company in advance through the Account Officer on any single withdrawal above Fifty Thousand Naira (N50, 000).
  • b. In the event of BSF, and the ESS or USS is used as collateral, the Customer shall not be entitled to request any withdrawal until the total credit facility is repaid.
  • c. It shall be the duty and obligation of the Customer to keep his/her record/e-Card securely. The Company shall not be liable for any unauthorized withdrawal by any third party by virtue of the presentation of the record/e-Card.
  • d. Loss of record/e-Card should be promptly reported to our office by the Customer within 48 hours. Any replacement will be at a cost to be borne by the Customer.
  • e. The Customer agrees that there shall be no third party withdrawal whatsoever on any of the personal accounts.
  • f. If the Customer agrees to transaction alerts, the cost of the alerts will be deducted at the cost of N5 per alert.
  • g. Customers are allowed to monitor their accounts and confirm the balances as many times as possible. Customers who do not raise any objection within 48 hours to any statement of account sent to him/her whether by sms or email shall be deemed to have accepted the correctness of the account.
  • h. The Company reserves the right to vary the T & C herein contained or cancel any of its products and/or services if this becomes necessary. Any changes may not be notified in advance.

    • The Customer agrees that all the information provided in here and in other forms are continuous records of the same transaction.

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