This Directive shall be binding on all applications for credit addressed to the company, without exception. Now the parties have reached an agreement under the following conditions: Committee Africa Cooperative Ltd and indicated on the credit application form. The deadline begins to be counted in loan agreements describing the terms of a loan agreement. Note: Guarantors must be an acceptable colleague for the cooperative Preferably members of Africa Cooperative Ltd. The guarantor confirms, by the annex of his signature, that the applicant for credit is an appropriate person to grant a loan/advance. The guarantor irrevocably undertakes to keep the cooperative harmless in the event of delay, capital and interest to be paid at the time of the delay. Proof of residential address (electricity bills, lease agreement) The cooperative grants loan applications addressed to it, SUBJECT to availability of funds, and these loans are granted for purposes that, according to the management committee and the credit committee, are productive or necessary and that are in the interest of the borrower. The company is entitled to calculate interest on approved loans at an interest rate set by the Management Board and communicated to the host member. In the event of late payment, the penalty rate applies in accordance with the provisions of the articles of association.