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LEVEL FINANCE TERMS AND CONDITIONS OF WEBSITE USE AND SERVICES

By accessing or using www.levelfinance.co.za or any of its related blogs, websites, applications or platforms (collectively, “the Website”), owned by Level Finance (Pty) Ltd. (reg: 2018/576746/07) (“Level Finance”) or any of its Services, you agree that you have read, understood and agree to be bound to the terms and conditions contained herein (“Terms”), in conjunction with any additional Level Finance terms particularly applicable to you and the Services you utilise. All rights in and to the content of the Website remain at all times expressly reserved by Level Finance.


Please see Level Finance’s distinct sections on Privacy, Intellectual Property, and Disclaimers & Indemnities.

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Please pay specific attention to the BOLD paragraphs of the Level Finance Terms. These paragraphs limit the risk or liability of Level Finance, constitutes an assumption of risk or liability by you, impose an obligation by you to indemnify Level Finance or is an acknowledgement of any.

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Please read these terms carefully before accessing or using the Website or Services. Level Finance will assume you have read and understood these terms should you continue to access or make use of the Website.
It is important to note the following:

  • The terms "user", “you" and “your” are used interchangeably in these Terms and refer to all persons accessing the Website or using the Services for any reason whatsoever. Accordingly, the terms “us”, “our” or “we” refers to Level Finance or its possession.

  • Not all terms are necessarily defined in order.

  • These terms were last updated on the 26th October 2021.

 

Level Finance’s functions:

  • Level Finance is not a Financial Services Provider and is accordingly not regulated by the South African Financial Services Board nor under the rules of the Financial Advisory and Intermediary Services Act, 37 of 2002 nor the Financial Sector Regulation Act, 9 of 2017.

  • Level Finance does not provide any regulated payment services and is therefore not subject to the National Payment System Act, 78 of 1998.

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1. INTRODUCTION TO THE WEBSITE AND SERVICES
1.1. Level Finance provides an online platform providing various services, including but not limited to providing users with an opportunity to access their earned but unpaid wages before their official payday (collectively, the “Services”).

1.2. These Terms explain the conditions applicable to how users must make use of the Website and the core provisions applicable to a user’s use of any Services derived from Level Finance. Depending on the exact Services used, a user may also need to conclude additional agreements with Level Finance, which agreements will contain more specific details relating to the exact Service acquired, including exact services and fees to be expected.

1.3. In return for using some of the Services available, the user may have to pay a fee to Level Finance or another third party (“Fee”), but same Fee will be detailed to you on the Website before you incur such a Fee, or in any further Service-specific agreement you may conclude with Level Finance or another third party. Please see clause 5 below or for a breakdown of the Fees.

1.4. In order to use the Services, users must register on the Website using the prompted methods and submit any required information to create a user Profile.
1.5. The Website and these Terms are subject to change without notice. These Terms are updated or amended from time to time and will be effective upon Level Finance uploading the amended Terms to the Website. Your continued access or use of the Website constitutes your acceptance to be bound by the Terms, as amended. It is your responsibility to read these Terms periodically to ensure you are aware of any changes.

1.6. Unauthorised use of the Website may give rise to a claim for damages and/or be a criminal offence.

 

2. RELATIONSHIP BETWEEN THE PARTIES
2.1. For all Services provided, Level Finance only provides software and does not have an employment, agent, intermediary, advisory, representative nor broker relationship with any user. Your use of the Website or the Services is entirely at your own risk and based on your own volition and expertise.
2.2. Level Finance does not provide any regulated financial, advisory, banking nor payment services. As such, the Services are not subject to oversight or regulation by any regulatory authority in South Africa, other than those concerning general consumer rights.
2.3. Your personal financial situation is unique, and it is your responsibility, given your financial and other individual circumstances, to use any information obtained through the Services appropriately and responsibly when implementing your decisions. Before making any financial decisions or implementing any financial strategy, you should obtain advice from your accountant or other financial advisor who are fully aware of your individual circumstances.

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3. USER REGISTRATION PROCESS
3.1. In order to make use of the Services, you must complete the necessary registration process detailed on the Website and acquire a Profile. Each user shall have only one (1) Profile and agrees to provide accurate, current and complete information during the registration process and to update such information as and when it changes.
3.2. Level Finance requires you to submit your full name, email address, ID number, employer name, home address and phone number when registering a Profile. Users may then set up additional features of their Profile, depending on the exact Services acquired, as prompted by the Website.
3.3. To protect your privacy and security, the Website takes reasonable steps to verify your identity by requiring a password together with your provided email address in order to grant access to your Profile and data. To view or change your personal information provided, you can access your Profile settings from the menu on the Website and follow the relevant prompts.
3.4. By entering your personal information on the Website, you warrant that the person using the Website is you and/or you have the legal authority to act on behalf of a corporate entity. You are responsible for your Profile and all actions perpetrated therewith and thereon, and you should not share your login details or password with anyone.
3.5. Please see Level Finance’ Privacy Policy regarding more details on how Level Finance uses and processes your personal information.

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4. THE SERVICES
4.1. Once registered, the user is allocated a unique Profile which is under their control and which can be manipulated by the relevant Profile owner using the various tools made available on the Website. Some of the features of the Website used by a user may automatically make adjustments or manipulate a Profile in accordance with the tool’s functions.
4.2. Your Profile will also indicate personal and account details and contact details
4.3. For further and exact information on the various Services currently offered by Level Finance, or those specific to you, please consult the relevant “Homepage” or “FAQ” pages on the Website or please contact info@levelfinance.co.za who will gladly assist.
4.4. For general information purposes, and subject to further information relating to these Services made available by Level Finance on the Website or elsewhere, the following details some of the exciting offerings which constitute our Services available to users:
4.4.1. Applying for, and obtaining, access to an Instant Pay Service from Level Finance:
4.4.1.1. Users can apply for access to their earned but unpaid wages from Level Finance to the value of a maximum of 25% (twenty-five percent) of their monthly wage from their employer, where the user’s employer sets the limit cap of such amount, in available increments of 5% (five percent), 10% (ten percent), 15% (fifteen percent), 20% (twenty percent) and 25% (twenty-five percent) of the user’s monthly wage.
4.4.1.2. Same advances must then be repaid to Level Finance in accordance with the repayment conditions provided by Level Finance to you.
4.4.1.3. The provision of this Service requires you to complete a distinct agreement with your employer and Level Finance, which will detail how the advances will be repaid, how the repayment of associated fees will be actioned, and by which party. Until this agreement is concluded between yourself, your employer and Level Finance, this Service will not be available.
4.4.1.4. For more information on how this Service works, please see our FAQ page.

 

5. PAYMENT FOR LEVEL FINANCE SERVICES
5.1. Level Finance will charge the Fee to the user making use of the Services on the following basis:
5.1.1. Level Finance charges 3% (three percent) per drawdown on the user employee’s earned but unpaid salary, where same 3% (three percent) is charged on a per-transaction basis on the amount advanced.
5.1.2. Level Finance integrates into the user’s employer’s payroll and is therefore able to track how many hours and days the user employee has worked. This "balance" that the user employee accrues is what Level Finance may make available to the user employee.
5.2. For an indication of the Fees to be expected for some of the Services available from Level Finance, please see our “FAQ” webpage and/or Homepage. Further, and on the application made for an advance, just before you use our instant pay service you will be presented with a summary screen showing the amount you are withdrawing and how much it is going to cost you.
5.3. All amounts stated on the Website or in relation to Services shall include Value Added Tax (“VAT”), but will be exclusive of any other applicable taxes/fees, unless otherwise stated and required by law. If any such taxes/fees apply to your use of the Services and the Fee charged, same will be indicated to you before you enact any transactions.
5.4. You may contact Level Finance via email at info@levelfinance.co.za or access your Profile on our web application to view your transaction history or on your payslip to obtain a record of your transactions with Level Finance.

 

6. USER RESPONSIBILITIES AND WARRANTIES
6.1. By using the Website and/or the Services, you warrant that: 6.1.1. you have read and agreed to these Terms and will use the Website and Services in accordance with them;
6.1.2. you understand and agree that Level Finance is not a regulated financial, advisory, banking nor payments service provider and you take all responsibility for the financial and other decisions you make via the Website and/or Services; 6.1.3. you have not made any misrepresentations and the information provided in the registration process about you, your company and/or your status is true, accurate and complete in every aspect;
6.1.4. you are not or have ever been declared “reckless credit” or a credit delinquent by any worldwide authority, nor are currently subject to any credit investigation, litigation or sequestration;

6.1.5. you are above the age of 18 (eighteen) years old and have the capacity to understand, agree with and be bound with these Terms;

6.1.6. you lawfully possess and submit all information to the Website and/or Level Finance for the use of it or the Services;

6.1.7. You are in full time employment;

6.1.8. you are not subject to any civil litigation against you, are not considered a subject of “reckless credit”, do not have any garnishee, regulator-sanctioned and/or statutory deduction payment orders against you and have the full lawful capacity to use the Services in each and every regard;

6.1.9. when required to be completed between the parties for the use of the instance pay service, you have completed the necessary agreement between yourself, your employer and Level Finance detailing the conditions of that advance the repayment thereof, as well as the conditions and rights applicable to you, your employer and Level Finance in relation thereto;

6.1.10. you will immediately notify Level Finance of any and all changes to your personal information and/or any other information which would have a bearing on the provision of any Services to you, such as a change of employer, change of employment or your credit worthiness (or any factors relating thereto);

6.1.11. you will not post, upload, replicate or transmit any abusive content on the Website that is or could reasonably be considered to be threatening, harassing, defamatory, abusive, racist, sexist, discriminatory, in breach of confidence, in breach of privacy or restrict any user in any way from properly using the Website;

6.1.12. you will not send any unsolicited electronic messages or use any software, routine or device to interfere or attempt to interfere electronically or manually with the operation or functionality of the Website including but not limited to uploading or making available files containing corrupt data or viruses via whatever means or deface, alter or interfere with the front end ‘look and feel’ of the Website or the underlying software code;

6.1.13. you will not infringe the intellectual property or other rights of any third party or the Website or transmit content that the user does not own or does not have the right to publish or distribute;

6.1.14. you will not use the Website platform for any commercial purpose other than as expressly provided for by Level Finance herein; 6.1.15. you will not use the Website to breach any applicable law or regulation or perform or encourage any illegal activity including (without limitation) promoting or facilitating money laundering or financial crimes; and/or

6.1.16. you will not facilitate or assist any third party to do any of the above,
where should a user breach any of the above, same breach automatically constitutes a material breach of these Terms, allowing Level Finance, amongst its other rights, to deny you access to the Website and/or Services and/or claim damages from you for losses it has suffered thereby.
6.2. The Website is only available on compatible devices connected to the internet. It is your responsibility to obtain these devices and any data network access necessary to utilise the Website. The network’s data and messaging rates and fees may apply if you use the Website and you shall be responsible for such rates and fees.
6.3. Without prejudice to any of Level Finance’ other rights (whether at law or otherwise), Level Finance reserves the right to deny you access to the Website or the Services where Level Finance believes (in its reasonable discretion) that you are in breach of any of these Terms.
6.4. Level Finance does not guarantee that the Website, or any portion thereof, will function on any particular hardware or device.

 

7. KYC AND AML REQUIREMENTS
7.1. A user’s ability to make use of various parts of the Website or particular Services, may be regulated by applicable know-your-customer (“KYC”) and/or anti-money laundering (“AML”) laws and the respective rules and regulations.
7.2. Level Finance may, at various times and depending on a range of factors in its sole discretion, including the amount of a transaction actioned and/or the exact nature of the user, require that a user submit certain information to Level Finance in order for the user to be verified as not infringing any of Level Finance’s KYC and/or AML requirements and/or local or foreign laws. This information requested may include identity documents, passport documents and/or bank account information. Level Finance reserves the right to limit or terminate a user’s access and use of the Services should the user fail to adhere to these requirements to the standard required by Level Finance. Level Finance also reserves the right to share this information with any legal authority when required under applicable laws.
7.3. Level Finance may restrict user transactions that may violate laws or Level Finance’s internal KYC or AML conditions herein and as updated from time to time.
7.4. As a minimum, the following rules are applied:
7.4.1. User is employed at an employer Level Finance has signed up
7.4.2. User has given Level Finance consent to access the following data
7.4.2.1. Identity Number and/or employee number
7.4.2.2. Net Salary
7.4.2.3. Bank Account Details

 

8. RECEIPT AND TRANSMISSION OF DATA MESSAGES
8.1. Data messages, including email messages, sent by you to Level Finance will be considered to be received only when acknowledged or responded to.
8.2. Data messages sent by Level Finance to you will be regarded as received when the complete data message enters an information system designated or used for that purpose by the recipient and is capable of being retrieved and processed by the recipient.
8.3. Level Finance reserves the right not to respond to any email or other data message which contains obscene, threatening, defamatory or otherwise illegal, unlawful or inappropriate content, and to take appropriate action against the sender of such email or data message where necessary.
8.4. Messages sent over the internet cannot be guaranteed to be completely secure as they can be intercepted, lost or corrupted. Level Finance is therefore not responsible for the accuracy or safety of any message sent by email or automated systems over the internet, whether from Level Finance to a user, between users or from a user to Level Finance.

 

9. HYPERLINKS, DEEP LINKS, FRAMING
9.1. The Website may include links to other internet sites ("the other sites"). Level Finance does not own or endorse the other sites and is not responsible for the information, material, products or services contained on or accessible through the other sites. Any such hyperlinks do not imply any endorsement, agreement on or support of the content or products of such target sites.
9.2. Level Finance does not purport to own the content on other sites which may be shown on the Website. Should the owner of any content showcased on the Website want the content to be removed, please write to info@levelfinance.co.za to request the removal of such content.
9.3. The user’s access and use of the other sites remain solely at the user’s own risk and on the terms set by the relevant third-party operator of the other sites.

 

10. ADVERTISING AND SPONSORSHIP
10.1. The Website may contain advertising and sponsorship. Advertisers and sponsors are responsible for ensuring that material submitted for inclusion in the Website complies with all applicable laws and regulations.
10.2. Level Finance, its members, employees, suppliers, partners, affiliates and agents accordingly exclude, to the maximum extent permitted in law, any responsibility or liability for any error or inaccuracy appearing in advertising or sponsorship material.

 

11. INTELLECTUAL PROPERTY PROTECTION
11.1. All Website layout, website content, material, information, data, software, icons, text, graphics, layouts, images, sound clips, advertisements, video clips, user interface design and layout, trade names, logos, trademarks, designs, copyright and/or service marks, together with the underlying software code and everything submitted by a user to the Website and Level Finance in use of the Services, (“the intellectual property”) are owned (or co-owned or licensed, as the case may be) by Level Finance, its shareholders, associates and/or partners, whether directly or indirectly, and as such, are protected from infringement by domestic and international legislation and treaties.
11.2. Subject to the rights afforded to you in these Terms, all other rights to all intellectual property on the Website are expressly reserved. You may not copy, download, print, modify, alter, publish, broadcast, distribute, sell or transfer any intellectual property, editorial content, graphics or other material on the Website or the underlying software code whether in whole or in part, without the written consent of Level Finance first being granted, which consent may be refused at the discretion of Level Finance. No modification of any intellectual property or editorial content or graphics is permitted. Should you breach these provisions, Level Finance and/or the rightful intellectual property rights owner may launch legal proceedings against you for a breach of contract, resulting in a claim of damages against you.
11.3. Level Finance reserves the right to make improvements or changes to the intellectual property, information, artwork, graphics and other materials on the Website, including that of a user in their Profile, or to suspend or terminate the Website, at any time without notice; provided that any transactions or functions already concluded through the Website, will not be affected by such suspension or termination (as the case may be).
11.4. Where any of the Website intellectual property has been licensed to Level Finance or belongs to any third party, other than that which has been submitted by a user to the Website in the use of the Services, all rights of use will also be subject to any terms and conditions which that licensor or third party imposes from time to time and you agree to comply with such third party terms and conditions.
11.5. Subject to adherence to the Terms, Level Finance grants to users a personal, non-exclusive, non-assignable and non-transferable license to use and display all content and information contained in the Website on any machine which the user is the primary user. However, nothing contained on the Website or in these Terms should be construed as granting any licence or right to use any intellectual property without the prior written permission of Level Finance.
11.6. Any enquiries regarding any of the above relating to intellectual property must be directed to Level Finance at info@levelfinance.co.za.

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12. DATA PRIVACY AND PROTECTION
12.1. We respect your privacy and your personal information, and will take reasonable measures to protect it, as more fully detailed in our Privacy Policy.

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13. DISCLAIMERS AND WARRANTIES
13.1. The Website and Services, including any intellectual property appearing therein, are provided "as is" and "as available". Level Finance makes no representations or warranties, express or implied, including but not limited to warranties as to the accuracy, correctness or suitability of either the Website, the Services or the information contained in it.
13.2. All information or opinions of users made available on the Website in relation to any of the Services are those of the authors and not Level Finance. While Level Finance makes every reasonable effort to present such information accurately and reliably on the Website, Level Finance does not endorse, approve or certify such information, nor guarantee the accuracy or completeness of such information on the Website.
13.3. Level Finance, its shareholders, employees, partners and affiliates, accept no liability whatsoever for any costs, expenses, fines or damages, including but not limited to direct or indirect loss or damages, including any economic loss, consequential loss, loss of profits or any form of punitive damages, resulting from the facilitation and offering of the Services, and access to, or use of, the Website in any manner, excluding circumstances of Level Finance’s gross negligence and/or fraud. The user has accordingly indemnified Level Finance against any such claims brought against Level Finance by same user or a third-party.
13.4. Level Finance takes reasonable security measures to ensure the safety and integrity of the Website and to exclude viruses, unlawful monitoring and/or access from the Website. However, Level Finance does not warrant or represent that your access to the Website will be uninterrupted or error-free or that any information, data, content, software or other material accessible through the Website will be free of bugs, viruses, worms, trojan horses or other harmful components. The user’s access to and use of the Website remains solely at the user’s own risk and the user should take their own precautions accordingly.

 

14. INDEMNITIES
14.1. The user indemnifies and holds harmless Level Finance, its shareholders, employees, and partners from any demand, action or application or other proceedings, including for attorneys’ fees and related costs such as tracing fees, made by any third party and arising out of or in connection with the user’s use of the Website and/or Services offered or concluded through the Website in any way.
14.2. The user agrees to indemnify, defend and hold Level Finance harmless from any direct or indirect liability, loss, claim and expense (including reasonable legal fees) related to the user’s breach of these Terms.
14.3. This clause will survive termination of this agreement.

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15. COMPANY INFORMATION
15.1. Site owner: Level Finance (Pty) Ltd.
15.2. Legal status: Private, for profit limited liability company
15.3. Registration number: 2018/576746/07
15.4. Director: Raeesa Gabriels, Alex Gabriels
15.5. Description of main business: An instant pay service that gives employees access
to a portion of their earned but unpaid income to cover unexpected expenses and avoid expensive credit products
15.6. Telephone number: 0761793437
15.7. Email address: info@levelfinance.co.za
15.8. Website address: www.levelfinance.co.za
15.9. Physical address: 3rd Floor, Workshop 17, 24 Cradock Ave, Rosebank
15.10. Postal address: 15 Ackerman Street, Albertsville, Randburg
15.11. Registered address: 15 Ackerman Street, Albertsville, Randburg

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16. DISPUTE RESOLUTION AND GOVERNING LAW
16.1. The user’s access and/or use of the Website and/or Services, any downloaded material from it and the operation of these Terms (including any transaction concluded pursuant thereto) shall be governed by and construed in accordance with the laws of the Republic of South Africa only.
16.2. Should any dispute, disagreement or claim arise between a user and Level Finance concerning the use of the Website or the Services, these parties shall endeavour to resolve the dispute amicably, by negotiation, and with the best interests of both parties in mind.
16.3. Should these parties fail to resolve such dispute in the aforesaid manner or within such further period as the parties may agree to in their negotiation, the parties will approach an independent industry expert who shall mediate the discussions between them in order to find a mutually beneficial solution.
16.4. If the dispute is still not resolved after such mediation, the parties will commence and be party to binding and confidential arbitration in terms of the expedited rules of the Arbitration Foundation of Southern Africa (“AFSA”), with an arbitrator selected by Level Finance. Arbitration proceedings shall be conducted in Johannesburg in English.
16.5. Notwithstanding the above, both parties consent to the non-exclusive jurisdiction of the High Court of the Republic of South Africa, even in the event where the quantum in the dispute may be less than the monetary jurisdiction of that court. Either party may also always use the dispute resolution services of any applicable legislative tribunal or ombud, as provided for in applicable legislation.
16.6. The parties both agree that in no circumstance will either party publicize the dispute on any social media or other public platform. The parties understand that any publicity of this nature can cause serious damage to the other party, which damage may result in a financial claim against the infringing party.

 

17. TERMINATION OF USE OF WEBSITE OR SERVICES
17.1. IN ADDITION TO ITS OTHER RIGHTS HEREIN, LEVEL FINANCE RESERVES THE RIGHT TO TERMINATE AND CANCEL YOUR PROFILE AND USE OF THE WEBSITE AND/OR SERVICES IF YOU BREACH ANY OF THE TERMS, OR FOR ANY OTHER REASON IN ITS SOLE DISCRETION PROVIDED THAT LEVEL FINANCE GIVES REASONABLE NOTICE TO YOU.
17.2. If you wish to terminate the agreement with Level Finance, or end your use of the Services, you may do so by deregistering your Profile with the Website and discontinuing your use of the Website. Such deregistration from the Website will however not have any effect on the continued and comprehensive functioning or legitimacy of any lawful rights which the parties may have at the time of said termination with the Website, such as the repayment of any money/Fee to the due party.
17.3. In the event of cancellation of your agreement with the Terms and with Level Finance, Level Finance will remove you from the Website, delete your Profile and bar you from using the service for an indefinite period.

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18. NOTICES AND SERVICE ADDRESS
18.1. Each of the parties chooses their service address for the purposes of the giving of any notice, the serving of any process and for any other purposes arising from these Terms as being:
18.1.1. in the case of Level Finance, at info@levelfinance.co.za; or
18.1.2. in the case of the user, at the e-mail and addresses provided by the user to Level Finance in the registration process and/or in their Profile.
18.2. Each of the parties will be entitled from time to time, by written notice to the other to vary its service address to any other address which is not a post office box or poste restante, provided that the change will become effective only 14 (fourteen) days after service of the notice in question.
18.3. Notwithstanding the above, any notice given in writing in English, and actually received by the party to whom the notice is addressed, will be deemed to have been properly given and
received, notwithstanding that such notice has not been given in accordance with this clause.

 

19. GENERAL
19.1. This document contains the entire agreement between the parties in relation to the subject matter hereof. Save as contemplated in clause 1.5 above, no alteration, cancellation, variation of, or addition hereto will be of any force or effect unless reduced to writing and signed by all the parties to these Terms or their duly authorised representatives.
19.2. No indulgence, leniency or extension of time granted by Level Finance shall constitute a waiver of any of Level Finance’ rights under these Terms and, accordingly, Level Finance shall not be precluded as a consequence of having granted such indulgence, from exercising any rights against the user which may have arisen in the past or which might arise in the future.
19.3. Words importing the singular will include the plural and vice versa. Words importing one gender will include the other genders, and words importing persons will include partnerships, trusts and bodies corporate, and vice versa.
19.4. The headings to the paragraphs in the Terms are inserted for reference purposes only and will not affect the interpretation of any of the provisions to which they relate.
19.5. The user’s access and/or use of the Website and/or the Services, any downloaded material from it and the operation of these Terms (including any transaction concluded pursuant thereto) shall be governed by and construed in accordance with the laws of the Republic of South Africa.
19.6. Should you have any complaints or queries, kindly address an email to Level Finance at info@levelfinance.co.za of same.
19.7. In the event of the user failing to pay any amount timeously or breaching these Terms, the user shall be liable for all legal costs (on the scale as between attorney and client) (including collection commission) which may be incurred by Level Finance in relation to the payment failure or breach.
19.8. Each sentence, paragraph, term, clause and provision of these Terms and any portion thereof shall be considered severable and if, for any reason, any such sentence, paragraph, term, clause or provision is held to be invalid, contrary to, or in conflict with any applicable present or future law or regulation or in terms of a final, binding judgment issued by any court, it shall to that extent be deemed not to form part hereof and shall not impair the operation of, or have any effect upon such other sentence, paragraph, term, clause or provision hereof as may otherwise remain valid or intelligible, which shall continue to be given full force and effect and bind the parties hereto.
19.9. No term or condition of these Terms is intended to breach any peremptory provisions of any consumer protection legislation and any regulations thereto ("Prohibited Provision"). Any breach of any such Prohibited Provision shall be governed by the provisions of clause 19.8

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