TERMS & CONDITIONS
PLEASE READ THE TERMS & CONDITIONS CAREFULLY
BEFORE USING THE Lendaba
SERVICE WITH A MOBILE DEVICE OR ANY OTHER MEANS.
Lendaba is a product of Afara Partners Limited.
Afara partners Limited is a technology solutions company which provides a range of products and services including, Lendaba, a “peer to peer” (P2P) financing marketplace for the facilitating of personal and business loans.
To access certain features on the platform, you may be required to provide personal and/or demographic information as part of the registration process. You agree to provide true, accurate, current and complete information about yourself as prompted by the applicable registration and you are responsible for keeping such information up-todate (this includes your contact information, so that we can reliably contact you). Also, you are to protect the confidentiality of your account password as we are not liable for any loss or damage arising from your failure to protect your password or account information.
You represent, warrant and agree that no materials of any kind submitted through your account or otherwise posted or shared by you through the Service will violate or infringe upon the rights of any third party, including copyright, trademark, privacy, publicity or other personal or proprietary rights; or contain libellous, defamatory, fraudulent or otherwise unlawful material. You further agree not to collect email addresses or other contact information of Users from the Service or the Site by electronic or other means for the purposes of sending unsolicited emails or other unsolicited communications. Additionally, you agree not to use automated scripts to collect information from the Service or the Site or for any other purpose. You further agree that you may not use the Service or the Site in any unlawful manner or in any other manner that could damage, disable, overburden or impair the Site. In addition, you agree not to use the Service or the Site to:
In order to register for our Services, you represent and warrant that: You are at least 18 years of age and are legally able to enter into a binding contract.
You authorize us, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide a biometric verification number (BVN), requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources.
You may not transfer or assign any rights or obligations you have under this Agreement without our prior written consent in its sole and absolute discretion. We reserve the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time.
The service is provided to you "as is," without any
representation or warranty, express or implied, of any kind, including, but not
limited to, warranties of merchantability, non-infringement, or fitness for any
particular purpose. We do not warrant the accuracy or completeness of the service,
the suitability of the content or the reliability of any advice, opinion, statement
or other information displayed or distributed through the service.
You acknowledge that any reliance on any such opinion, advice, statement, memorandum, or information shall be at your sole risk. We do not warrant that the functions contained in the materials will be uninterrupted or error-free, that defects will be corrected, or that this Site is free of viruses or other harmful components.
The applicable tax laws in Nigeria as related to our BORROWERS
and LENDERS are Value Added Tax and Withholding Tax;
Interests earned by Lenders are liable to 10% WHT on the INTEREST EARNED alone.
BORROWERS are charged 5% VAT on service charges as applicable. We are obliged by the applicable laws to collect these taxes on behalf of the government and remit as at when due, failure of which attracts severe penalties. Where applicable, the WHT charged on INVESTORS’ interests may help reduce INVESTORS’ tax liability in the same year. We are not to be held responsible for advising, estimating, calculating and/or remitting any other appropriate taxes that apply to you in Nigeria and abroad outside of our transactions here.
You agree to indemnify us to the full extent of applicable law in the event that any tax authority holds us responsible for any taxes directly or indirectly arising from your use of the site.
To the extent permitted by applicable law, our liability to you
for any cause whatsoever, regardless of the form of the action will not exceed
₦2,500.00. If the dispute is pertaining to a lending transaction, our liability ₦ to you
shall not exceed the amount of the lending transaction or ₦2,500.00 whichever is lower
₦2,500. If the dispute is pertaining to a lending transaction, our liability to you
shall not exceed the amount of the lending transaction or ₦2,500 whichever is lower
As permitted by applicable law, we exclude all conditions, warranties, representations or other terms which may apply to our platform or any content on it, whether express or implied. We will not be liable to any user for any loss or damage, even if foreseeable, arising under or in connection with the use of, or inability to use our platform.
We do not guarantee the accuracy of any User Content or
Third-Party Content. Although we provide rules for User conduct and postings, we do
not control and are not responsible for what Users post on the platform and are not
responsible for any offensive, inappropriate, obscene, unlawful or otherwise
objectionable content you may encounter on the Site or in connection with any User
Content or ThirdParty Content. We are not responsible for the conduct, whether
online or offline, of any User of the Site or Service.
We cannot guarantee and do not promise any specific results from use of the platform and/or the Service to obtain a loan.
The platform and the service may be temporarily unavailable from time to time for maintenance or other reasons. We assume no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, User communications. We are not responsible for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, computer equipment, software, failure of email or players on account of technical problems or traffic congestion on the Internet or on the platform or combination thereof, including injury or damage to Users or to any other person's computer related to or resulting from participating or downloading materials in connection with the Web and/or in connection with the Service.
Our failure to enforce a provision of these Terms is not a waiver of its right to do so later. If any provision of these Terms is found unenforceable, the remaining provisions of the Terms will remain in full effect and an enforceable term or terms will be substituted reflecting our intent as closely as possible.
If you have any question regarding the use of the Site, or comments about the Site or its contents should be directed to firstname.lastname@example.org.
We may modify and update these Terms at any time. Your continued use of the platform after any modifications to these Terms shall mean you accept those modifications. Any aspect of the platform may be amended, changed, modified, supplemented, deleted or updated without notice at our sole discretion.