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Microfinance Loan Officer Employment Contract

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DOCX
Pages
5
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Document Overview

A Microfinance Loan Officer Employment Contract is a formal, legally binding agreement between a microfinance institution, SACCO, digital lender, or cooperative society (the employer) and an individual hired to serve as a Microfinance Loan Officer.

Here are the properly numbered components:
1. Parties to the Agreement
2. Appointment and Job Title
3. Commencement Date
4. Probation Period
5. Job Description and Key Responsibilities
6. Place of Work
7. Working Hours
8. Remuneration
9. Allowances and Benefits
10. Leave Entitlements
11. Confidentiality and Non-Disclosure
12. Conflict of Interest and Ethical Obligations
13. Performance Evaluation
14. Disciplinary Procedures
15. Termination of Employment
16. Retirement
17. Governing Law
18. Entire Agreement and Amendments
19. Signatures and Witnesses


The contract serves several important purposes:
1. To legally formalize the employment relationship.
2. To define clear credit, lending, and collection duties.
3. To protect the employer from credit risk, fraud, and operational losses.
4. To ensure compliance with Kenyan labor laws and microfinance regulatory requirements (Microfinance Act, Sacco Societies Act, CBK Guidelines, Employment Act, Data Protection Act).
5. To protect client information and uphold data confidentiality.
6. To outline salary, commissions, benefits, and reward structures.
7. To minimize disputes through clear guidelines on performance, discipline, and termination.

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