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MAW HIRE PURCHASE PVT. LTD. (MHPL) – TERMS & CONDITIONS

Last updated on 07 अक्ट 2026

1. Introduction and Acceptance

M.A.W. Hire Purchase Pvt. Ltd.. (“we”, “us”, “our” ) (hereinafter referred to as “M.A.W. Hire Purchase”) is a Nepal Rastra Bank-licensed hire purchase and non-banking financial company under the MAW Group of Companies. We finance two-wheelers, four-wheelers, heavy equipment, commercial vehicles, and mobile devices.

These Terms and Conditions apply to your use of our website, digital channels, and branches, and to your dealings with us when you enquire about or apply for financing. By using our services or submitting an application, you agree to these terms. If you do not agree, please do not use our services.

These terms are general in nature. Your signed financing or hire purchase agreement sets out the specific terms of your facility. If the two conflict, the signed agreement prevails.

2. Definitions

  • “Customer” / “you”: any individual or entity that applies for or holds a financing facility with MHPL, including co-applicants.
  • “Facility”: any hire purchase or financing arrangement provided by MHPL.
  • “Asset”: the vehicle, equipment, or device financed under the facility.
  • “Dealer”: an authorised dealer, showroom, or sales partner of MHPL.
  • “Agreement”: the signed hire purchase or financing agreement between you and MHPL.

3. Eligibility

To apply, you must:

  • Be a Nepalese citizen or a lawfully recognised entity, and be legally competent to enter a contract
  • Be at least 18 years old
  • Provide accurate, complete, and current information and documents
  • Meet MHPL’s credit, income, and policy requirements, as updated from time to time

Meeting these criteria does not guarantee approval.

4. Application and Approval

  • All applications are subject to verification, credit assessment, and MHPL’s internal approval.
  • We may approve, reject, or modify the terms of any application at our discretion, and are not obliged to give reasons where the law does not require it.
  • Approval of an application is not a commitment to disburse until the Agreement and all required documents are completed and conditions are met.
  • You authorise us to verify your information with employers, banks, credit information bureaus, dealers, and other lawful sources.

5. Customer Responsibilities

You agree to:

  • Provide true and complete information and notify us promptly of any change in your address, contact details, employment, or financial position
  • Pay down payments, instalments, fees, and charges in full and on time
  • Use the asset lawfully and only for the purpose declared in your application
  • Maintain the asset in good condition and keep it available for inspection by MHPL on reasonable notice
  • Keep the asset insured as required, with MHPL’s interest recorded where applicable
  • Complete vehicle registration, ownership, and lien or hypothecation formalities as required
  • Not sell, transfer, lease, mortgage, or part with possession of the asset without MHPL’s written consent
  • Keep your documents, passwords, and OTPs confidential

6. Payments

  • Instalments are payable on the dates and in the amounts set out in your repayment schedule.
  • Payments may be made through the channels MHPL notifies, and are credited when actually received in MHPL’s account.
  • Payments are applied first to charges, penalties, and interest, then to principal, unless the Agreement or the law states otherwise.
  • Failure to receive a reminder does not excuse a missed payment.

7. Interest, Fees, and Charges

  • Interest rates, processing fees, service charges, insurance costs, and other applicable charges will be disclosed in your Agreement or schedule of charges.
  • Late payment attracts penalty charges as set out in the Agreement and permitted by Nepal Rastra Bank directives.
  • Rates and charges may be revised in line with the Agreement and applicable regulation, with notice to you where required.
  • All taxes and statutory levies are payable by you unless stated otherwise.

8. Ownership and Security

  • Until all dues are fully paid, MHPL retains its security interest in the asset as provided in the Agreement, including hypothecation, lien, or registered charge.
  • You hold and use the asset subject to MHPL’s rights and the terms of the Agreement.
  • Where applicable, ownership documents may be held by MHPL until full settlement.
  • On full repayment, MHPL will release its interest and complete the required formalities within a reasonable period.

9. Insurance, Loss, and Damage

  • You must keep the asset adequately insured throughout the facility.
  • You remain responsible for repayment even if the asset is lost, stolen, damaged, or destroyed, except to the extent that insurance proceeds are received and applied.
  • Any loss, accident, or theft must be reported to MHPL and the relevant authorities promptly.

10. Late Payment and Default

An event of default may occur if you:

  • Fail to pay any instalment or amount when due
  • Provide false or misleading information
  • Breach any term of the Agreement or these terms
  • Dispose of, conceal, or misuse the asset
  • Become insolvent, or face legal action that affects your ability to repay

On default, and subject to the Agreement and applicable law, MHPL may:

  • Charge penalties and recover costs of collection
  • Demand immediate payment of the outstanding balance
  • Take possession of the asset and sell or dispose of it, applying proceeds to your dues, with any shortfall remaining payable by you
  • Report the default to credit information bureaus
  • Take legal action to recover dues

MHPL will follow the notice and procedure requirements of Nepalese law and NRB directives when exercising these rights.

11. Early Settlement

You may request early settlement or foreclosure of your facility. Applicable early settlement charges, if any, and the settlement figure will be stated in your Agreement or communicated on request. Settlement is complete only when MHPL confirms receipt of all dues in full.

12. Dealers and Third Parties

Dealers and partners assist customers but are independent of MHPL unless stated otherwise. MHPL is not responsible for the quality, condition, warranty, or delivery of the asset, which remain between you and the dealer or manufacturer. Your repayment obligations to MHPL continue regardless of any dispute with a dealer or manufacturer, unless the Agreement or law provides otherwise. Please pay only through authorised channels, and do not hand cash to anyone claiming to act for MHPL without a proper receipt.

13. Website and Digital Channels

  • Information on our website is for general guidance and may change without notice.
  • Rates, offers, and promotions are subject to eligibility and MHPL’s policies, and may be withdrawn at any time.
  • You must not misuse our digital channels, attempt unauthorised access, or introduce harmful code.
  • All content, logos, and trademarks belong to MHPL or the MAW Group and may not be copied or used without written permission.
  • We do not guarantee uninterrupted access to our digital channels.

14. Privacy and Data Protection

We collect and use your personal information in line with our Privacy Policy, which forms part of these terms. By applying, you consent to the collection, use, verification, and sharing of your information as described there, including reporting to credit information bureaus and regulators.

15. Communications

You agree that we may contact you by phone, SMS, email, mail, or other channels at the details you provided, regarding your application, account, payments, and service. Promotional messages may be stopped at any time on request.

16. Limitation of Liability

To the extent permitted by law, MHPL is not liable for indirect or consequential losses, for delays or failures caused by events beyond our reasonable control, or for losses arising from your failure to follow these terms or the Agreement. Nothing in these terms excludes liability that cannot be excluded under Nepalese law.

17. Amendments

We may amend these terms from time to time to reflect changes in law, regulation, or our business. The updated version will be published on our website and at our branches with a new effective date. Continued use of our services after an update means you accept the revised terms.

18. Complaints and Grievances

If you have a complaint, please contact us using the details below. We will acknowledge and address complaints within a reasonable time. If you are not satisfied with our response, you may take the matter to the appropriate regulatory authority, including Nepal Rastra Bank.

19. Governing Law and Jurisdiction

These terms are governed by the laws of Nepal. Disputes will be subject to the jurisdiction of the competent courts of Nepal, [Kathmandu / specify], unless the Agreement provides otherwise.

20. Contact Us

M.A.W. Hire Purchase Pvt. Ltd.
Email: mhpl@mawnepal.com
Call: +977 01-5970228
Address: Teku Road, Tripureshwor, Kathmandu, Nepal