Fairkampaign, an initiative of Dutch nonprofit International Legal Alliances Microjustice for All, has announced a call for comments on the contents of a “fair microfinance loan agreement.” Fairkampaign aims to: (1) highlight legal issues in contracting with poor and semi-literate people and the resulting consumer protection implications; (2) provide the microfinance industry with the tools to service clients with fair and transparent agreements; and (3) provide a neutral forum for grievance resolution.
To view the proposed agreement you may visit: http://www.microfinancegateway.org/gm/document-1.9.55371/Faircontractcontent.pdf. To offer feedback you may fill the form on the contact page of the Fairkampaign site or email your comments to Fairkampaign manager Jami Solli at JamiSolli@gmail.com.
By Nisha Koul, Research Associate
About International Legal Alliances (ILA) Microjustice for All: International Legal Alliances (ILA) Microjustice for All, established in 1996, is a Dutch nonprofit organization that provides legal services to the poor and semi-literate people. It has offices in Argentina, Bolivia, Peru and Uganda. Financial data on ILA Microjustice for All is not available.
Sources and Additional Resources:
Microfinance Gateway, “Call for Comments: Proposed Fair Microfinance Loan Agreement,” http://www.microfinancegateway.org/p/site/m/template.rc/1.9.55371/
Fairkampaign, “Campaign Rationale,” http://www.fairkampaign.org/index.php?option=com_content&view=article&id=6&Itemid=6
MicroCapital.org story, August 17, 2011, “MICROCAPITAL BRIEF: Smart Campaign Revises “Client Protection Principles” for Microfinance Institutions (MFIs),” https://www.microcapital.org/microcapital-brief-smart-campaign-revises-%e2%80%9cclient-protection-principles%e2%80%9d-for-microfinance-institutions-mfis/
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