Term of use

Welcome to the Platform (defined below).

Please read the following terms of use (“Terms of Use”) carefully before you further use this Platform. The Terms of Use contain terms and conditions governing your use of the Platform as well as services in the Platform, including but not limited to the information services, Loan services, and other services that may be developed by the Services Provider.

By accessing and/or using the Platform, you will be deemed to consent to these Terms of Use. If you do not agree to these Terms of Use, please immediately stop using the Platform.

1.DEFINITION

In these Terms of Use, the terms used shall have the following meanings:

  • “ Business Day ” means a day (other than Saturday, Sunday, or public holiday)

  • “ Lender ” means person, legal entity, and/or business entity having receivables under the Loan Agreement made through the Platform.

  • “ Borrower ” means person and/or legal entity having debt under the Loan Agreement made through the Platform;

  • “ Users ” means the Lender, Borrower, prospective Lender, and/or prospective Borrower which uses Platform for, among other things, looking for information on the Platform services, distribute Loan through the Platform, and obtain Loan through the Platform.

  • “ Loan ” means funds provided to the Borrower by the Lender under the Loan Agreement made through the Platform;

  • “ Platform ” means website and application developed or used by the Services Provider for bringing together the Lender and the Borrower for the purpose of distributing the Loan, which can be accessed through or through other channels that may be developed and/or used from time to time by the Services Provider for that end.

2. PLATFORM USAGE

To access and utilize the Platform, you must:

  • (a) Explicitly acknowledge and agree to these Terms of Use and the Privacy Policy, accessible privacy policy

  • (b) Complete the registration process on the SmartNaira application.

  • (c) Provide all requested information, including but not limited to, your full name, occupation, email address, mobile number, online credentials, and any additional details we may require.

The Platform may be used to gather information on loan offers, register for loans, communicate with the Service Provider, and access other features offered by the Service Provider.

3. ACCOUNT CREATION

3.1 To get certain services on the Platform, you may need to create an account. During the account creation process, you may be required to submit personal data.

3.2 You declare and guarantee that all data provided for account creation is accurate and authentic. You agree that your affirmation regarding the accuracy of the submitted data is sufficient for verification. You agree that the Service Provider may conduct further verifications as necessary.

3.3 You represent and warrant that you have the necessary capacity and authority to create an account on the Platform, either under applicable laws and regulations or contractual obligations, and you indemnify the Service Provider against any losses, claims, or actions arising from account creation that violates your representations and warranties.

3.4 Please keep your account and password confidential. You acknowledge and agree that there is no such mechanism that can fully ensure that the Platform or system used can ascertain that you are the true user of your account. Please comply with the confidentiality rules for your account and password. You agree that the Services Provider will deem any transactions entered into and legal conduct carried out by your account as transactions entered into and legal conduct carried out by you, and you shall be responsible for the use of your account, unless there is security breach in the system of the Services Provider which will soon be notified to you.

3.5 If you know or have sufficient reasons that your account has been compromised, hacked, and/or in any way illegally accessed by third parties, please contact us.

3.6 The personal data you provide through the Platform shall be subject to the Privacy Policy which can be accessed here. Please read the Privacy Policy carefully.

4. ACCOUNT USAGE

4.1 You shall be responsible for using your account in accordance with the prevailing laws and regulations. You agree that you will not use your account for any actions which violate the laws and regulations, including but not limited to, falsifying the identities, engage in money laundering crimes, or other actions not in conformity with the laws and regulations.

4.2 You agree that the Loan you obtain or provide through the Platform will be used solely for purposes stated in the loan agreement to be entered into between the Borrower and the Lender (as represented by the Service Provider).

4.3 You agree that other than the actions prohibited by the laws and regulations, you shall also be prohibited from using the account in such a way that may harm other parties, including but not limited to, Services Provider, or other third parties. Actions causing harms to other parties include but not limited to, disabling the electronic systems control, spam mail, illegal disclosure of the third party’s confidential information, copying each of the parts of the Platform without authorization(regardless of whether it is protected by the intellectual property or not), uploading contents with violence, indecency, attack on other’s dignity, contents protected by the other’s intellectual property, or other actions that may harm other parties.

4.4 You understand and agree that you may only have one account in the Platform, unless the Services Provider determines otherwise. For this purpose, you agree that you shall not create and not attempt to create, directly or indirectly, more than one account in the Platform.

4.5 The Service Provider reserves the right to terminate your account in the event of non-compliance with the Terms of Use. Notwithstanding such termination, you shall remain fully responsible for any content uploaded by you that violates the Terms of Use. You agree to indemnify and hold harmless the Service Provider from and against any and all consequences, losses, damages, costs, expenses (including reasonable legal fees), or liabilities arising out of or related to any content you upload to the Platform that is in violation of the Terms of Use.

5. THIRD PARTY CONTENTS

The Platform may contain links or information which if accessed, constitutes information provided and developed by third party platform. If you are redirected to the platform provided and developed by the third party, the contents shall be subject to the terms of use set out by the third party and the contents of which shall be the full responsibility of the third party.

6. INTELLECTUAL PROPERTY

6.1 The Platform and all its constituent elements may embody copyrights, trademarks, patents, or other forms of intellectual property owned exclusively by the Services Provider. You are expressly prohibited from using, reproducing, distributing, or deriving any economic benefit from any component of the Platform without the explicit prior authorization of the Services Provider.

6.2 Subject to the Terms of Use of the account referred to in Article 3 above, you agree that you shall not have claims over any intellectual properties for any contents you upload through the Platform, and therefore, all contents you upload shall be owned by the Services Provider and the Services Provider shall be entitled to obtain economic benefit for the use of the contents. If the laws or courts decide that despite the Terms of Use you are the owner of the intellectual property of the contents you upload to the Platform, you hereby grant full license to the Services Provider to do anything in respect of the contents as if the Services Provider is the party owns the intellectual property of the contents, including but not limited to using, copying, communicating or in any manner whatsoever obtaining economic benefits from exercising the intellectual property rights.

7. DISCLAIMER OF WARRANTIES

7.1 No Implied Warranties: The Services Provider offers the services accessible through the Platform strictly on an “as is” and “as available” basis, without any warranties, express or implied, regarding the Platform’s availability, performance, error-free operation, or any other aspect of its use. You acknowledge that electronic systems are inherently susceptible to malfunctions or disruptions, and there exists no perfect system capable of handling all types of errors. While the Services Provider will endeavor to address all system malfunctions, it shall not be held liable for any malfunctions caused by third parties.

7.2 Limitation of Liability: Subject to applicable laws and regulations, the Services Provider hereby explicitly disclaims any and all representations, warranties, or guarantees, whether express or implied, related to your use of the Platform. This disclaimer covers, but is not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement.

8. LIMITATION OF LIABILITY

8.1 Subject to the limitations permitted by applicable laws and regulations, the Services Provider shall bear no responsibility towards you for any losses incurred in connection with your use of the Platform, except in cases where it is proven that such losses were directly caused by the negligence or fault of the Services Provider. In the event that losses are incurred due to third parties whom you have entered into legal relationships with through this Platform, you acknowledge that such losses shall be the sole responsibility of the third party, and you hereby agree to indemnify and hold harmless the Services Provider from any and all claims, actions, or suits arising from such losses.

8.2 Without prejudice to the provisions stated above, the Services Provider shall not be liable for any indirect losses, including but not limited to, business interruption, loss of profits, missed business opportunities, or reputational damage.

9. OTHERS

9.1 These Terms of Use are construed and governed by the laws of the Republic of Nigeria. .Any claim or dispute arising in relation to this Terms of Use shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria, in accordance with the prevailing laws and regulations.

9.2 If there is any provision in the Terms of Use that are declared invalid or violating the laws and regulations, the terms shall not affect the validity of the remaining provisions and these Terms of Use shall be deemed to be revised in a way that reflects the conformity with the laws and regulations.

9.3 No waiver of any rights of the Services Provider which shall be given unless it is clear and made in writing by the Services Provider. Non-performance or delayed performance or partial performance of rights of the Services Provider shall not be deemed waiver of any rights of the Services Provider.

10. COMPLAINTS AND INFORMATION SERVICES

If you have any questions in relation to the Platform, you may contact our customer service.