The six overarching principal commitments are:
Licensees must act fairly and reasonably in all dealings with customers;
Licensees must make sure that all advertising and promotional material relating to microfinance facilities, credit and charging is clear and not misleading in any way;
Licensees must give clear information and provide clear documentation about products and services they offer, including the application procedures, terms & conditions, interest/profit rates and breakdown of charges that apply;
Licensees must provide their customers with regular statements;
Licensees must inform their customers about any changes to the terms and conditions of the contract prior to the change taking place. It is the duty of the customer to inform the licensee of changes in contact address immediately; and
Licensees must deal sympathetically with cases of genuine financial difficulty and treat all customer personal information as private and confidential.