At Tola, we aim to partner with companies and their owners in growing sustainably over time. We appreciate that running a business brings unique risks, as well as unexpected challenges that can make it impossible to fulfill your Pay Later obligations.

As we use our own financial resources to offer these services, any time you are unable to pay Tola we lose money. However, unlike other providers of financial services, we do not use these situations as an opportunity to make more money than we originally agreed to, by compounding the interest or assigning large unexpected fees.

If by the Pay Later Date, Tola has not received payment for the Bill Amount and Factoring Fee, we will consider You delinquent. Under these circumstances, Tola will attempt to contact You by means You have previously disclosed. Our expectation is that You will engage with us and provide context as to why the expected payment was missed, along with expected timing of repayment. On a one-off basis, we may offer adjusted terms. Tola will not automatically assign late fees, nor automatically extend the tenor while compounding principle and interest.

Except where prohibited by law, we may declare a default if You: (a) fail to make any payment by its required Due Date; (b) become the subject of insolvency or bankruptcy proceedings; (c) supply false, misleading, or incorrect information to us; (d) a payment is returned to us by Your bank; or (e) violate or are unwilling or unable to comply with any provision in this Agreement (each a "Default"). If You are in Default Tola may: (i) employ a debt collection agency or attorney to collect payment; (ii) report default information to credit bureaus; or (iii) exercise any remedy or right available to it under the law. All such remedies are cumulative and not exclusive. Selecting one remedy does not exclude the exercise of another. If You are in Default Tola may prevent You from future use of any of Tola’s Services.