Yawo Guarantor

Memorandum of Understanding


(Guarantor: Guarantor) AND

(YAWO - Credit trading name in collaboration with IKONIK)

This Memorandum of Understanding (MOU) sets the terms and understanding between the Guarantor - Guarantor and YAWO to explore credit disbursement and collections opportunities in a micro loan venture.


Name of Guarantor: Guarantor AND

YAWO is the trading name in collaboration with First Frontier Tech Limited


This MOU will establish a relationship between Guarantor and Yawo for exploring credit disbursement and collections opportunities

Details / Terms and Conditions/ Party Responsibility

1. Capital Provision

1.1 Yawo

  • Yawo shall be responsible for providing 100% of the capital to be disbursed to its customers (marketers/ small business owners).

2. Vetting

2.1 Yawo

  • Yawo via its credit officers and technology shall ensure the viability and authenticity of the creditors who applied for a loan.

  • Yawo shall vet the agent who has applied to be a Yawo collection agent via the MMO.

2.2 Agent (Agent)

  • Agent shall ensure that Guarantor meets the minimum requirements 

    • Requirement: A Guarantor must only be available at the point of the loan request. The Guarantor must also provide his/her BVN to the agent while guaranteeing a loan. The Guarantor must also provide a utility bill as proof of address.

2.2 Customer (Customer)

  • Customer shall be responsible for vetting their own guarantor. 

3. Loan Recovery

3.1 Yawo

  • In the event of a default, the guarantor's BVN shall be submitted to the necessary agency for withdrawal from their account. 

  • In the event of a default, the Agent, MMO, Ikonik and Yawo shall work together to ensure that the defaulter is apprehended and full delivery is completed. 

4. Guarantor Onboarding

4.1 Agent (Agent) 

  • Guarantor is expected to give the right and correct information about himself and his business to the agent.

4.2 Yawo

  • Yawo in collaboration with the agent must ensure that there’s adequate provision for guarantor onboarding.

5. Insurance and Infrastructure

5.1 Yawo

  • Yawo shall be responsible for credit-life insurance for all its customers in case of death or a severe physical illness deductable from the customer’s daily collection.

6. Contract Duration / Termination

  • Duration will be a going-concern except in cases where the employment has to be terminated due to in-balances between both parties.

  • Yawo holds the right to terminate its contract with any customer by suspending the customer’s account at any time if the conditions for the partnership are no longer favourable but the customer must ensure full payment of loan in case the termination occurred while a loan is running.

7. Privacy Policy/Non Disclosure

7.1 Guarantor (guarantor)

  • The guarantor’s information shall not be shared with a third party without the consent of the guarantor.

8. Caution

This MOU is at-will and may be modified by the mutual consent of authorised officials from Yawo. This MOU shall become effective upon signature by the Guarantor (Guarantor)  and Yawo and will remain in effect until modified or terminated by any one of the partners.

Yawo (First Frontier Tech Inc)

Address: 4b Babatope Bejide Street, Lekki Phase 1.