Understanding Our Terms and Conditions: Your Guide to Rights and Responsibilities
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Terms and Condition
Your use of MADA Financing services means that you have agreed to the terms and conditions provided by MADA Finance. MADA Finance reserves the right to amend or update the terms and conditions as it sees fit, where the customer is notified before the application of these modifications or updates becomes binding on the customer and is published on the website www.madaleasing.com.
Mada Finance will follow the below procedure in financing and repayment of microloans against goods or services requested by the client:
- o The interested client would discuss their needs and preferred payment scheme with MADA team based on the needed items/services and duration of loan.
- o The client fills out an application form online/offline with the requested amount against an item/service.
- o MADA team would collect documents and data. Once all documents are checked and everything is in order, MADA will provide the client with the total amount against the requested service/ item including interest, and the payment schedule.
- o The client signs a contract with MADA with the terms of the loan and payment schedule.
- o Procurement and closing: MADA hands over the procured item/ service.
- o All procured items must be brand new, in good condition with a one year warranty. The client would sign a bill of exchange or cheques to ensure payments covering the entire duration of the loan.
- o In case the total requested amount exceeds the client’s social security installment, a co-signer/sponsor is required to cover the remaining value of the requested amount.
- o Following up and collecting payments based on the agreed upon schedule.
MADA may make changes to these Terms or modify any features of the website at any time, in our sole discretion. The most current version of the Terms can be viewed by clicking on the “Privacy Policy” and “Terms of Use” links on the home page of the website. By continuing to access and use the website, the client indicates acceptance of any changes to the Terms. These Terms contain the entire agreement between the client and MADA regarding the use of the website. If any provision of these Terms is held invalid, the remainder of the Terms shall continue in full force and effect.
The client undertakes to abide by the laws, regulations, and instructions regulating their relationship with MADA, in particular the instructions issued by the Central Bank of Jordan, related to foreign currency control, and any amendments that may occur thereto from time to time, and in any request agreement or other document related to the service provided.
The client acknowledges that all the information and documents submitted to MADA are correct, and confirmed to inform the company of any modification or change that occurs to his address, his phone number, or any information of importance at the time or upon request from the company.
This document is subject to the provisions, laws, regulations, and instructions in force in the Hashemite Kingdom of Jordan. In the event of any dispute regarding the application of this agreement, the jurisdiction of the Amman court shall rest with the Abdali Palace of Justice.
Visa and Master Card and which currencies will be accepted for payment We will not trade with or provide any services to OFAC and sanctioned countries. Customer using the website who are Minor /under the age of 18 shall not register as a User of the website and shall not transact on or use the website. Cardholder must retain a copy of transaction records and Merchant policies and rules. User is responsible for maintaining the confidentiality of his account. Privacy Policy All credit/debit cards’ details and personally identifiable information will NOT be stored, sold, shared, rented or leased to any third parties Merchant will not pass any debit/credit card details to third parties Merchant takes appropriate steps to ensure data privacy and security including through various hardware and software methodologies. However, (MADALEASING.COM) cannot guarantee the security of any information that is disclosed online. The merchant is not responsible for the privacy policies of websites to which it links. If you provide any information to such third parties different rules regarding the collection and use of your personal information may apply. You should contact these entities directly if you have any questions about their use of the information that they collect.
The Website Policies and Terms & Conditions may be changed or updated occasionally to meet the requirements and standards. Therefore, the Customers’ are encouraged to frequently visit these sections to be updated about the changes on the website. Modifications will be effective on the day they are posted.
One of the most advanced methods of capital asset financing is financial leasing. A financial lease allows the lessee to profit from a specific asset in exchange for monthly payments for a preset length of time, after which the lessee's ownership of the asset is automatically transferred to the lessee.
