Triple M Distribution

This document expressly explains that a client must have a standing collateral worth almost times two of the amount of loan facility obtained from (Triple M Distribution Nig Ltd)

For clients on term loans, they must repay as at when due. However, failure to repay as at when due will attract a daily default charge of 1.5% of the repayment amount for that particular month/week and must be paid alongside their repayment for that month/week. It is worth noting that the interest on a loan must be paid in advance before onward disbursement of the loan.

It is therefore a criminal offence for a client to give false information about collateral to Triple M Distribution Nig Ltd in the following circumstances:

1. To present non-existent collateral
2. To present that does not belong to him or her
3. To present defective collateral
4. To lie about burglary, theft and other similar conduct concerning the collateral within the loan contract period to his/her advantage hereby occasioning loss to the company
5. To engage in any kind of conduct capable of denying the company access to the collateral upon default
6. If the given the given address where the collateral resides is inaccessible at default

Basic Conditions

1. The Collateral must be in a good working condition
2. It must be released for inspection and approval or disapproval
3. In no condition should the collateral be moved from its current dwelling location throughout the loan contract period
4. In a situation of burglary/theft or other related issues, the company (Triple M Distribution Nig. Ltd.) should be informed in 24hrs while the client presents alternative collateral or ends the contract by paying the complete repayment in 3days.