Despite an efficient credit appraisal, disbursement, and monitoring mechanism, a loan can go into default. If the payment has not been received on the scheduled date, penal interest will be payable by the borrower to its lender. MARLO and its affiliates use reasonable endeavours in loan recovery proceedings against the borrower, and if required, initiate the right legal action. However, MARLO does not guarantee protection against losses.
Lenders are advised to do their own diligence before entering any contracts.