Terms & Conditions


Terms of Use and Loan Account Agreement – Pakistan

Terms and Conditions for the Opening and Use of a Loan Account with Sarmaya Microfinance


Welcome to Sarmaya’s financial services. These Terms of Service (“Terms”) govern your use of products and services provided by Sarmaya Microfinance company duly incorporated under the laws of the Republic of Pakistan (collectively “Sarmaya,” “we”, “us”, or “our”). You can view information relating to our products and services  from the website located at https://www.sarmayamf..com/ (the “Site”), and you can access and use Sarmaya’s products and services by downloading our mobile device application (the “App”) available from the Google Play Store. Our Site, our services, and the App are collectively referred to as the “Services.”



1.1 Definitions

For the purposes of this Agreement and the preamble above, unless the context requires otherwise:

Acceptable Use Restrictions has the meaning given to it in clause 5;

Agreement means this Agreement;

Account means your loan account with Sarmaya’s;

Business Day means a day other than a Saturday, Sunday or national or public holiday in the Islamic Republic of Pakistan;

Credentials means your personal credentials used to access the App and operate your Account;

Electronic Credit Information Bureau (eCIB) means a eCIB duly licensed under the Banking Act pursuant to the Credit Bureau Act-2015(CBA-2015) as amended, revised or promulgated from time to time, to inter alia, collect and facilitate the sharing of customer credit information;

E-Money means the electronic monetary value depicted in your App Account representing an equal amount of cash;

Equipment includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;

Event of Default has the meaning given to it in clause 11.1;

Force Majeure means events, circumstances or causes beyond its reasonable control of making Sarmaya’s performance of its obligations inadvisable, commercially impracticable, illegal, or impossible, including but not limited to acts of God, war, strikes or labor disputes, embargoes or government orders;

Encumbrance includes any mortgage or charge (whether legal or equitable), lien, option, security interest, restrictive covenant, pledge, assignment, title retention, trust arrangement or other restriction of any kind or other encumbrance securing or any right conferring a priority of payment in respect of any obligation of any person;

License Restrictions has the meaning given to it in clause 4;

Loan means the principal amount of the loan made or to be made by our App to you under this Agreement from time to time through the App or (as the context requires) the principal amount outstanding for the time being of that loan;

App Account means your Sarmaya’s money store of value, being the record maintained by Sarmaya’s Money Providers in Pakistan of the amount of E-Money from time to time held by you in the Sarmaya’s Money Provider’s System;

Sarmaya’s Network Operator means a Sarmaya’s network operator in Pakistan registered with the Communications Authority of Pakistan;

Sarmaya’s Payment gateway/Money Provider means a Sarmaya’s Network Operator that has been duly authorized by the Security and Exchange Commission or Central Bank of Pakistan under applicable law to offer Sarmaya’s Money Services in Pakistan;

Network means a Sarmaya’s cellular network operated by a Sarmaya’s Network Operator;

Privacy Policy means the Sarmaya’s privacy policy that sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us;

Request means a request or instruction received by Sarmaya’s from you or purportedly from you through the Network and the System and upon which Sarmaya’s is authorized to act;

Services shall include any form of financial services or products that Sarmaya’s may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed accordingly;

SIM Card means the subscriber identity module which when used with the appropriate Sarmaya’s phone handset enables you to access the Network and to use the Sarmaya’s Money Account;

SMS means a short message service consisting of a text message transmitted from your Sarmaya’s phone to another;

System means Sarmaya’s’s electronic communications software enabling you to communicate with Sarmaya for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through the Sarmaya’s Network Operator’s System;

Technology has the meaning given to it in clause 3.1.4; and

Transaction Fees includes any fees and charges payable for the use of the Services as published by Sarmaya’s on Sarmaya’ss website/App or by such other means as Sarmaya shall in its sole discretion determine. Transaction Fees are subject to change at any time at Sarmaya’s’s sole discretion.

1.2 Interpretation

1.2.1 In addition to the definitions in clause 1.1, unless the context requires otherwise: the singular shall include the plural and vice versa;

1.2.2 a reference to any one gender, whether masculine, feminine or neuter, includes the other two.

1.2.3 All the headings and sub-headings in this Agreement are for convenience only and are not to be taken into account for the purposes of interpretation of this Agreement.

1.2.4 The recitals and schedules shall be deemed to form part of this Agreement.


2.1 You must carefully read and understand the Terms and Conditions set out in this Agreement and as amended from time to time by Sarmaya’s (the Terms and Conditions) before downloading or streaming the App or opening an account with Sarmaya which will govern the use and operation of the App and the Account.

2.2 After downloading the App, you will be deemed to accept the Terms and Conditions upon clicking the “Accept” option on Sarmaya System asking you to confirm that you have read, understood and agreed to abide by the Terms and Conditions. If you do not agree with the Terms and Conditions please click the “Decline” option in Sarmaya’s’s System. Please note that you will not be able to access the Services if you decline the Terms and Conditions. If you do not agree to the Terms and Conditions, we will not license the App to you.

2.3 By downloading the App and opening an Account with Sarmaya, you agree to comply with and be bound by the Terms and Conditions governing the operation of the Account and you affirm that the Terms and Conditions herein are without prejudice to any other right that Sarmaya may have with respect to the Account in law or otherwise.

2.4 These Terms and Conditions may be amended or varied by Sarmaya’s from time to time and the continued use of the Services constitutes your agreement to be bound by the terms of any such amendment or variation. Sarmaya will take all reasonable measures to notify you of any changes.

2.5 From time to time updates to the App may be issued through the website. Depending on the update, you may not be able to use the Services until you have downloaded or streamed the latest version of the App and accepted any new terms and conditions.

2.6 By using the App or any of the Services, you consent to us collecting and using technical information about the Equipment and related software, hardware and peripherals for Services that are internet-based or wireless to improve our products and to provide any Services to you. If you use these Services, you consent to us and our affiliates’ and licensees’ transmission, collection, retention, maintenance, processing and use of your data to determine our credit scoring services or to improve our Services and/or your experience while using the App.


3.1 In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive license to use the App on your Equipment, subject to these Terms and Conditions. We reserve all other rights. Except as expressly set out in this Agreement or as permitted by any local laws, you agree:

3.1.1 not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the App;

3.1.2 not to make alterations to, or modifications of, the whole or any part of the App, or permit the App or any part of it to be combined with, or become incorporated in, any other programs;

3.1.3 not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the App or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving interoperability of the App with another software program, and provided that: the information obtained by you during such activities is not unnecessarily disclosed or communicated without our prior written consent to any third party; and is not used to create any software that is substantially similar to the App; you include our copyright notice on all entire and partial copies you make of the App on any medium; not to provide or otherwise make available the App in whole or in part (including object and source code), in any form to any person without prior written consent from us; and

3.1.4 to comply with all technology control or export laws and regulations that apply to the technology used or supported by the App or any Service (the Technology).


4.1 You must:

4.1.1 not use the App or any Service in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with this Agreement, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the App, any Service or any operating system;

4.1.2 not infringe our intellectual property rights or those of any third party in relation to your use of the App or any Service, including the submission of any material (to the extent that such use is not licensed by this Agreement);

4.1.3 not transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of the App or any Service;

4.1.4 not use the App or any Service in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users; and

4.1.5 not collect or harvest any information or data from any Service or our systems or attempt to decipher any transmissions to or from the servers running any Service.



5.1.1 You acknowledge that all intellectual property rights in the App is owned by us or our licensors, that rights in the App are licensed (not sold) to you, and that you have no rights in, or to, the App or the Technology other than the right to use each of them in accordance with the terms of this Agreement. You acknowledge that you have no right to have access to the App in source-code form.


5.2.1 The Services offered by Sarmaya’s can only be utilized by persons over the age of 18. Sarmaya’s reserves the right to verify the authenticity and status of your Sarmaya’s Money Account with the relevant Sarmaya’s Money Provider.

5.2.2 Sarmaya’s’s acceptance of your application for an Account will be displayed on the App. You hereby acknowledge and accept that the acceptance by Sarmaya of your application for an Account does not create any contractual relationship between you and the Sarmaya’s Money Providers beyond the terms and conditions that apply to your Sarmaya’s Money Account from time to time.

5.2.3 Sarmaya’s reserves the right to decline your application for a loan or to revoke the same at any stage at Sarmaya’s’s sole and absolute discretion and without assigning any reason or giving any notice thereto.

5.2.4 Sarmaya’s reserves the right (in its sole and absolute discretion) to issue, decline to issue a loan and/or vary the terms of any loan depending on its assessment of the credit profile of each individual borrower from time to time. The terms of the loan and the interest rate payable in relation to each loan application will be displayed on the App.


5.3.1 You hereby agree and authorize Sarmaya’s to verify information provided by you to Sarmaya against the information held by the Sarmaya’s Money Providers in relation to your Sarmaya’s Money Account pursuant to the agreement between you and the relevant Sarmaya’s Money Provider for the provision of its products and services and the Sarmaya’s Money Service.

5.3.2 The information that Sarmaya’s may verify against the information held by the Sarmaya’s Money Providers includes (without limitation): your phone number, name, date of birth, Identification Number (“CNIC”) or Passport Number and such other information that will enable Sarmaya to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”).

5.3.3 You hereby agree and authorize Sarmaya’s to verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you by the Sarmaya’s Money Providers and any financial services providers relating to your use of the Sarmaya’s Money Service and such other information as Sarmaya shall require for purposes of providing you the Services (the “Relevant Information”).

5.3.4 You hereby consent to Sarmaya verifying the Personal Information and the Relevant Information with the Sarmaya’s Money Providers and using of the Personal Information and the Relevant Information to the extent necessary in the opinion of Sarmaya.

5.3.5 You hereby agree and authorize Sarmaya’s to obtain and procure your Personal Information and Relevant Information from your respective Sarmaya’s Money Provider and you further agree and consent to the disclosure and provision of such Personal Information by the Sarmaya’s Money Provider and further to indemnify and hold Sarmaya and the Sarmaya’s Money Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.

5.3.6 You hereby agree and authorize Sarmaya’s to obtain and procure your Personal Information from the eCIB and you further agree and consent to the disclosure and provision of such Personal Information by the eCIB..

5.3.7 Sarmaya’s reserves the right to request for further information from you pertaining to your application for an Account at any time. Failure to provide such information within the time required by Sarmaya may result in Sarmaya declining to accept your application for an Account.

5.3.8 Sarmaya’s reserves the right to supply consumer credit information to the Electronic Credit Information Bureau (eCIB), and in this regard: you confirm that Sarmaya may transmit to the Electronic Credit Information Bureau (eCIB) data about the App, opening and termination of an Account by you;

5.3.9 you acknowledge that information on non-compliance with the Terms and Conditions of this Agreement is transferred to the Electronic Credit Information Bureau (eCIB); and

5.3.10 The Electronic Credit Information Bureau (eCIB) provides a credit profile and possibly credit scores on your creditworthiness, subject to the credit record.



6.1 You hereby irrevocably authorize Sarmaya to act on all Requests received by Sarmaya from you (or purportedly from you) through the System and to hold you liable in respect thereof. Sarmaya may nevertheless refuse to carry out any Requests in its sole and absolute discretion.

6.2 Subject to its discretion, Sarmaya’s reserves the right to reject any Request in relation to a loan application from you even if you have previously been issued with a loan by Sarmaya’s.

6.3 Sarmaya shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, Sarmaya’s believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.

6.4 Sarmaya shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which Sarmaya may act if Sarmaya’s has in good faith acted in the belief that such instructions have been sent by you.

6.5 Sarmaya’s may, in its absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further enquiry or further confirmation (whether written or otherwise) from you.

6.6 You agree to and shall release from and indemnify Sarmaya against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to Sarmaya having acted in accordance with the whole or any part of any of your Requests (or failed to exercise) the discretion conferred upon it.

6.7 You acknowledge that to the full extent permitted by law Sarmaya shall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Account PIN, password, ID or any means whether or not occasioned by your negligence.

6.8 Sarmaya is authorized to effect such orders in respect of your Account as may be required by any court order or competent authority or agency under the applicable laws.

6.9 In the event of any conflict between any terms of any Request received by Sarmaya’s from you and this Agreement, this Agreement shall prevail.


7.1 The interest payable by you to Sarmaya in relation to any Loan shall be displayed by Sarmaya’s on the App. Sarmaya shall be entitled to set and charge Transaction Fees, in connection with your use of the Services and from time to time amend or vary its Transaction Fees for the Services.. If Sarmaya decides to start charging Transaction Fees or where already applicable, vary or amend its Transaction Fees, the Transaction Fees payable on any new application for Services will be displayed on the App. Sarmaya will use reasonable endeavors to notify you of any changes in relation to Transaction Fees within a reasonable period before such changes are implemented including displaying notices of the changes on the App or Sarmaya’s website.

7.2 All payments to be made by you under this Agreement shall be made in full without any set off or counter claim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Sarmaya you shall immediately pay to Sarmaya’s such additional amounts as will result in Sarmaya receiving the full amount it would have received had no such deduction or withholding been required.

7.3 If you fail to make any payments due to Sarmaya at the due date for payment, Sarmaya will be authorized to apply late fees on such amounts loaned to you at a rate to be communicated to you.

7.4 You shall have a right to repay all or part of the loan amount early or at any time before the due date. In such cases Sarmaya has the sole discretion to apply the full service fee for the agreed loan period and any additional charges. If you wish to repay part of the amount due, you must make payment before or on the due date in accordance with the loan terms. 


8.1 A statement and activity report in respect of your Account will be made available on Request. Requests shall be made via our e-mail address: support@sarmayamf.com or via a contact link on the App and website.

8.2 The statement on the App shall provide details of the last 4 (four) transactions (or such other number of transactions as determined by Sarmaya’s) in your Account initiated from your Equipment.

8.3 Your statement will show all amounts added or taken from your Account. You must check your statement carefully and notify Sarmaya as soon as possible if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.

8.4 Sarmaya’s reserves the right to rectify discrepancies, add and/or alter the entries in your statements, without prior notice to you. Sarmaya will however inform you of any rectification, additions and or alterations effected on your statements within a reasonable time after the changes are effected.

8.5 You will be notified of all transactions on your Account by way of SMS and the charges for this service will be debited to your Account.

8.6 Save for a manifest error, a statement issued to you in respect of your Sarmaya’s Account shall be conclusive evidence of the transactions carried out on your  Sarmaya’s Account for the period covered in the statement.


  1. TAXES

9.1 All payments to be made by you in connection with these Terms and Conditions are calculated without regard to any taxes payable by you. If any taxes are payable in connection with the payment, you must pay an Sarmaya’s an additional amount equal to the payment multiplied by the appropriate rate of tax. You must do so at the same time as making the payment.

9.2 You hereby consent and agree that Sarmaya’s may withhold amounts in your Account if any tax authority requires Sarmaya to do so, or Sarmaya’s is otherwise required by law or pursuant to agreements with any tax authority to do so, or if Sarmaya’s needs to comply with internal policies or with any applicable order or sanction of a tax authority.


10.1 You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.

10.2 You shall be responsible for ensuring the proper performance of your Equipment. Sarmaya’s shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall Sarmaya’s be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and Sarmaya shall not be responsible for losses or delays caused by any such service provider.

10.3 You shall follow all instructions, procedures and terms contained in this Agreement and any document provided by Sarmaya’s concerning the use of the System and the Services.

10.4 You hereby agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your Credentials secret and secure. You shall ensure that your Credentials do not become known or come into possession of any unauthorized person. Sarmaya shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold Sarmaya harmless from any losses resulting from any disclosure of your Credentials.

10.5 You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from Sarmaya’s are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected. You shall immediately inform Sarmaya in the event that:

10.5.1 You have reason to believe that your Credentials are or may be known to any person not authorized to know the same and/or have been compromised; and/or

10.5.2 You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.

10.6 You shall at all times follow the security procedures notified to you by Sarmaya from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Account’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.

10.7 You shall not at any time operate or use the Services in any manner that may be prejudicial to Sarmaya.


11.1 An event of default (Event of Default) occurs when you:

11.1.1 fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or are declared bankrupt.

11.2 At any time after an Event of Default has occurred which is continuing, Sarmaya’s may, without prejudice to any other right or remedy granted to it under any law:

11.2.1 terminate this Agreement in accordance with clause 12 below;

11.2.2 declare that the Loan (and all accrued interest and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and

11.2.3 supply information concerning the Event of Default to Electronic Credit Information Bureau (eCIB). A copy of any adverse information concerning you sent to an Electronic Credit Information Bureau (eCIB) shall be made available to you upon written request.



12.1 Sarmaya’s may at any time, upon notice to you, terminate or vary its business relationship with you and close your Account and in particular but without prejudice to the generality of the foregoing Sarmaya may cancel credits which it has granted and require the repayment of outstanding debts resulting from such credits within such time as Sarmaya may determine.

12.2 Without prejudice to Sarmaya’s’s rights under clause 14.1, Sarmaya’s may at its sole discretion suspend or close your Account:

12.2.1 if you use the Account for unauthorized purposes or where Sarmaya detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;

12.2.2 if your Account or agreement with an Sarmaya’s Network Operator is terminated for whatever reason;

12.2.3 if Sarmaya’s is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;

12.2.4 if Sarmaya reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable) which you fail to remedy (if remediable) within 14 days after the service of notice by email, SMS or other electronic means requiring you to do so;

12.2.5 where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; to facilitate update or upgrade the contents or functionality of the Services from time to time; where your Account becomes inactive or dormant;

12.2.6 if Sarmaya’s decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion; or

12.2.7 if you breach any of the License Restrictions or the Acceptable Use Restrictions.

12.3 If your Account has a credit balance at any time as a result of overpayment of your Loan, you may issue a Request to Sarmaya for payment of such credit balance and Sarmaya’s will return any such balance to you, less any applicable fees, provided that such amount falls above the minimum transfer amounts specified by the relevant Sarmaya’s Money Provider.

12.4 Termination shall however not affect any accrued rights and responsibilities of either party.

12.5 If Sarmaya receives notice of your demise, Sarmaya will not be obliged to allow any operation or withdrawal from your Account by any person except upon production of administration letters from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by a court of competent jurisdiction.



13.1 Sarmaya’s shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within Sarmaya’s’s control including , without limitation, Force Majeure or error, interruption, delay or non- availibity of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.

13.2 You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your response to Sarmaya to ensure that the facilities and functions of the App as described meet your requirements.

13.3 We only supply the App for domestic and private use. You agree not to use the App and Documents for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

13.4 Sarmaya’s will not be liable for any losses or damage suffered by you as a result of or in connection with:

13.4.1 any defect or fault in the App or any Service resulting from you having altered or modified the App;

13.4.2 any defect or fault in the App resulting from you having used the App in breach of the terms of this Agreement;

13.4.3 your breach of any of the License Restrictions or the Acceptable Use Restrictions;

13.4.4 unavailability of sufficient funds in your Sarmaya’s Money Account;

13.4.5 failure, malfunction, interruption or unavailable Sarmaya City of the System, your Equipment, the Network or a Sarmaya’s Money System; the money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your Account;

13.4.6 any fraudulent or illegal use of the Services, the System and/or your Equipment; or

13.4.7 Your failure to comply with these Terms and Conditions and any document or information provided by Sarmaya’s concerning the use of the System and the Services.

13.5 If for any reason other than a reason mentioned in clauses 13.1 to 13.4, the Services are interfered with or unavailable, Sarmaya’s’s sole Liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.

13.6 Save as provided in clause 13.5, Sarmaya shall not be liable to you for any interference with or unavailability of the Services, however caused.

13.7 Under no circumstances shall Sarmaya’s be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, however caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Sarmaya’s.

13.8 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.



14.1 In consideration of Sarmaya complying with your instructions or Requests in relation your Account, you undertake to indemnify Sarmaya and hold it harmless against any loss, charge, damage, expense, fee or claim which Sarmaya’s suffers or incurs or sustains thereby and you absolve Sarmaya from all liability for loss or damage which you may sustain from Sarmaya’s acting on your instructions or requests or in accordance with these Terms and Conditions.

14.2 The indemnity in clause 14.1 shall also cover the following:

14.2.1 All demands, claims, actions, losses and damages of whatever nature which may be brought against Sarmaya’s or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailibity of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond Sarmaya’s’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Sarmaya’s.

14.2.2 Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.

14.2.3 Any unauthorized access to your Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.

14.2.4 Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Sarmaya’s as a consequence of any breach by these Terms and Conditions.

14.2.5 Any damages and costs payable to Sarmaya in respect of any claims against Sarmaya for recompense for loss where the particular circumstance is within your control.



15.1 If you wish to contact us in writing, or if any condition in these Terms and Conditions requires you to give us notice, you can send this to us by e-mail to support@sarmayamf.com or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by email.

15.2 If we have to contact you or give you notice in writing, we will do so by e-mail or by sms to the Sarmaya’s phone number or email address you provide to us in your request for the App.



16.1 Remedies Cumulative

16.1.1 No failure on the part of any party to exercise, or delay on its part in exercising, any right, power or remedy provided by this Agreement or by law shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further or other exercise of that, or any other, right, power or remedy.

16.2 No waiver

16.2.1 No failure by Sarmaya to exercise, and no delay in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or remedy.

16.3 Effect of invalidity

16.3.1 If any provision or part of a provision of this Agreement shall be, or be found by any court of competent jurisdiction to be, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of this Agreement, all of which shall remain in full force and effect.


17.1 These Terms and Conditions and our Privacy Policy constitute the entire agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.

17.2 You acknowledge that in entering into this Agreement you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions or our Privacy Policy.

17.3 You and we agree that neither of us shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.



18.1 Disputes

18.1.1 The Parties shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with this Agreement. To this end, the Parties in dispute shall each promptly appoint representatives of appropriate standing who shall meet and attempt to resolve any dispute between them. In the event that an amicable settlement has not been reached within thirty (30) days of the parties’ representatives meeting as aforesaid, the following provisions of this clause 20 shall apply.

18.2 Arbitration

18.2.1 Any dispute, difference or question whatsoever and howsoever arising out of or in connection with this Agreement, save as specifically provided herein, shall be referred for final determination to a single arbitrator to be appointed by agreement between the parties hereto or in default of any such agreement within seven (7) days of the notification of any dispute by either party to the other then, upon application by either party.

18.2.2 Such arbitration shall take place in Gilgit and shall be conducted in accordance with the Rules of Arbitration of the Institute.

18.2.3 To the extent permissible by law the determination of the arbitrator shall be final and binding upon the Parties and shall not be subject to any appeal.

18.2.4 Nothing in this clause 20.2 shall restrict either Party’s freedom to commence legal proceedings of any nature for the purposes of seeking preliminary injunctive relief or interim or conservatory measures from any court of competent jurisdiction pending the final decision or award of any arbitrator.



19.1 This Agreement shall be governed by and construed in accordance with the laws of the Islamic Republic of Pakistan.

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