PUBLIC ADVISORY: New Clause Added to Tonik Digital Bank’s Loans Terms and Conditions

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A new clause has been added to the Tonik Digital Bank’s Loans Terms and Conditions. See Clause #29 under Obligations and Covenants:

“Any Documentary Stamp Tax arising from the loan, whenever applicable, shall be for the account of the borrower and shall be deducted on the net proceeds of the loan.” 

Read the whole document here Terms and Conditions (Loans).