Terms and Conditions
These Terms govern use of Bohikor’s salary-backed lending platform. They describe how Bohikor, participating organizations, and employees interact. Product behaviour described here matches the current Bohikor platform. Formal Legal sign-off may supersede wording without changing the operational controls already enforced in software.
1. Parties and roles
“Bohikor” means the platform operator that supplies lending liquidity and is the lender of record for employee loans originated through the platform.
“Organization” means an employer approved and created by Bohikor platform administrators. The organization sponsors eligible employees, accepts organization-facing terms before lending is enabled, and repays Bohikor through organization settlements.
“Organization admin” means a person authorized to administer one organization in Bohikor (invitations, employment, allowances, credit limit/cycle requests, viewing debt and settlements). Organization admins cannot confirm receipts, allocate payments, write off debt, or mutate financial state reserved to platform administrators.
“Employee” means an individual with a dated employment record at an Organization who may request salary-backed loans into a confirmed Mobile Money payout destination.
“Platform admin” means a Bohikor operator with platform-wide permissions to create and suspend organizations, approve credit limit and cycle changes, manage liquidity and configuration, reconcile disbursements, verify settlements, and handle disputes and debt recovery. Sensitive actions are audited with actor, reason, state change, and timestamp.
2. The service
Bohikor is a multi-tenant, web-first salary-backed lending platform. Organizations do not pre-fund employee floats. Bohikor disburses from platform liquidity. Employees receive funds via Mobile Money (Campay Withdraw). Organizations repay Bohikor when salary-cycle settlements become due.
Bohikor provides separate web applications for marketing, employees, organization admins, and platform admins. Access is scoped by authenticated role and organization tenancy. Tenant identity is derived from the authenticated session; a URL or request body cannot override another organization’s scope.
3. Eligibility and accounts
3.1 Organizations
- Organizations are created by platform admins (no public self-application in v1).
- Creation includes profile data, a verified work-email domain, first admin credentials, and an initial credit limit.
- Salary-cycle configuration and acceptance of organization terms occur after create.
- Lending fails closed when required configuration or published legal agreements are missing.
3.2 Employees
- Employees are invited by an organization admin using a globally unique work email.
- Activation and login use purpose-bound email one-time passwords (OTPs). OTPs are single-use, expiring, purpose-specific, and throttled.
- Employees must maintain an active employment record, accept required employee agreements, and confirm a Mobile Money payout destination before borrowing.
- Suspended or archived employees, ended employment, revoked domains, or a suspended organization block activation, login, or lending as applicable.
3.3 Admins
Organization and platform admins sign in with password plus email OTP. Sessions use short-lived access credentials and rotating refresh sessions in secure cookies, with CSRF protection on state-changing browser requests.
4. Capacity: allowance, credit limit, and liquidity
A loan may be confirmed only when all three controls have available capacity:
- Employee cycle allowance — maximum principal for the employee in the current salary cycle. Reservations reduce availability immediately. Allowance does not silently carry across cycles.
- Organization credit limit — maximum outstanding guaranteed principal for the organization (limit minus reserved and outstanding principal).
- Platform liquidity — amount Bohikor can currently disburse.
Each organization has effective-dated salary cycles with start/end dates, a borrowing window, and a repayment due date. When a configured repayment day does not exist in a month, it clamps to the last day of that month; weekends and holidays do not shift it.
5. Quotes, confirmation, and disbursement
Loan intent, payout execution, and enforceable debt are separate:
- A quote is a short-lived server offer (principal, fee, total repayment, due date, destination, remaining capacity, agreement versions, expiry).
- A disbursement attempt is the Mobile Money payout and its outcome.
- A loan is created only after confirmed successful disbursement.
Confirmation requires a fresh loan-confirmation OTP and an idempotency key. On confirm, Bohikor rechecks eligibility, snapshots pricing and consent, and reserves allowance, credit limit capacity, and liquidity before calling the payout provider.
- Confirmed success consumes reservations, posts ledger entries, and creates the loan.
- Confirmed failure releases reservations and creates no loan.
- Timeouts, transport errors, or ambiguous provider responses remain in processing until webhook confirmation or reconciliation. Bohikor does not guess failure or blindly re-pay.
Failed or uncertain disbursements are shown in activity history and are not presented as debt. Platform admins may reconcile, reverse, resolve, or write off according to platform procedures.
6. Fees, currency, and snapshots
- All amounts are whole Central African CFA francs (XAF).
- Percentage fees use half-up rounding.
- Fee rules and financial configuration are effective-dated.
- Each quote and loan snapshots the fee values used so later configuration changes cannot rewrite history.
7. Organization obligations
By accepting these Terms (or the published organization agreement then in force), the Organization agrees to:
- Sponsor eligible employees and keep employment, invitation, and allowance data accurate.
- Accept current organization terms before lending is enabled for the organization.
- Ensure requested credit limit and salary-cycle settings remain consistent with its ability to settle outstanding guaranteed principal.
- Repay Bohikor the exact settlement amount for each cycle settlement, using the payment reference Bohikor provides, via bank transfer, office cash, or another method Bohikor enables.
- Provide repayment proof out of band when required; organization admin actions alone never settle debt — platform admins confirm receipt and allocate funds.
- Notify Bohikor promptly of employment endings, suspensions, or other events that affect eligibility or repayment risk.
- Use admin access only for its own organization and protect admin credentials and OTP codes.
8. Employee obligations
- Provide accurate information and use only your own work email and accounts.
- Protect OTP codes; never share them.
- Confirm a payout destination you control and accept responsibility for that destination before it becomes usable for disbursement.
- Borrow only amounts you understand, within quoted terms, knowing the organization settles the obligation with Bohikor under the organization’s sponsorship model.
- Review quotes carefully before OTP confirmation; confirmation after a valid OTP is binding once disbursement succeeds.
9. Settlements and repayment
When a salary cycle’s borrowing window ends, employees can no longer request advances for that cycle. If outstanding debt exists, Bohikor creates one organization-wide settlement for that cycle with an exact amount and unique payment reference.
- Partial settlement of a due settlement is not available in v1.
- Underpayments remain unallocated; overpayments allocate the exact obligation and may leave unapplied funds.
- Allocation is atomic. Numbered receipts may be issued for confirmed cash/bank receipt.
- Borrowing reopens only at the next eligible cycle boundary and when organization debt policy is satisfied.
10. Disputes, recovery, and corrections
Disputes, debt-recovery cases, exceptional disbursement resolution, and payment reversals are platform-admin operations. Corrections use compensating ledger entries; posted ledger and audit records are not edited or deleted. A payment reversal restores settlement, loan, and credit limit state according to platform rules and cannot follow a refund of unapplied funds without a new valid collection.
11. Prohibited use
- Circumventing eligibility, allowance, credit limit, liquidity, OTP, or tenancy controls.
- Using another person’s email, employment, or payout destination.
- Attempting unauthorized access to another organization or platform admin functions.
- Using the service for unlawful purposes or to launder funds.
- Interfering with security, audit, or financial integrity of the platform.
12. Suspension and termination
Bohikor may suspend an organization, employment, or user access where required for risk, compliance, non-payment, abuse, or missing required configuration. Suspension can block login and lending. Outstanding loans and settlements remain payable according to their terms.
13. Liability and force majeure
To the extent permitted by applicable Cameroonian law, Bohikor is not liable for indirect or consequential losses arising from Mobile Money provider outages, delayed or missing webhooks, telecommunications failures, or organization settlement delays outside Bohikor’s reasonable control. Nothing in these Terms excludes liability that cannot legally be excluded.
14. Changes to these Terms
Bohikor may publish updated Terms on this page. Material updates may require renewed in-product acceptance (organization and/or employee) before continued lending use. The version and effective date above identify the current public text.
15. Governing law
These Terms are governed by the laws of the Republic of Cameroon. Courts of competent jurisdiction in Cameroon shall have authority over disputes that cannot be resolved operationally, without prejudice to mandatory consumer or labour protections.
16. Contact
Questions about these Terms: use the support channels published on bohikor.com, or contact your Bohikor platform representative.