Terms & Conditions
1. Introduction
- The following terms and conditions (“Terms and Conditions”) shall apply to the use of the
MerchantsBox™ (“Website”) and/or the services provided by Cowries MFB
("Cowries") on
and through the Website including but not limited to the provision of access to small and medium
scale enterprises funding (“Services”). By registering on and using the Services provided
through the Website including the information and data available on the Website, You have agreed
to all the Terms and Conditions and agree to abide by all the Terms and Conditions without
limitation or qualification and to comply with all applicable laws, legislations and subsidiary
legislations regarding the use of the Website and the Services. The content, features and
functionality of the Website permits you access to the Services via Cowries
MerchantsBox™
Platform (“the Platform”) subject to the provisions of these Terms and Conditions.
- You will be deemed to have accepted these Terms and Conditions when you register on the Website
and become a customer (“Customer”). Once you become a registered Customer, You agree to be bound
by these Terms and Conditions. References to “you” and “your” in these Terms and Conditions mean
You as a registered Customer. Acceptance of these Terms and Conditions by You is an absolute
pre-condition of you using our Website and Services. If You do not accept these Terms and
Conditions, You will not be permitted to use our Website or the Services provided through it, or
any other services we provide.
- These Terms and Conditions govern (a) your use of our Website and Services and form a binding
contract between Cowries and You regarding your use of our Website and Services.
- Kindly read through the requirements of this Terms and Conditions carefully. As stated in
paragraph 1.3 above, Your use of the Website including the provision of the Services and access
to the Platform constitutes an agreement between Cowries and You and supersedes all prior
or contemporaneous agreements, understandings, representations, discussions, proposals,
literature, arrangement, undertaking and the likes, written or otherwise. Cowries reserve
the right to amend these Terms and Conditions at any time without prior notice to You: if
Cowries does so, Cowries shall display a notice to this effect on the Website. The
most current form of the Terms and Conditions may be found at MerchantsBox™, Your
continued use
of the Website and/or the Services after any amendment of these Terms and Conditions shall be
deemed to be express acceptance of or acceptance by conduct of any such amendment. Please ensure
You review the Terms and Conditions prior to every use of the Website or the Platform. If You
have any questions please feel free to email us at
hello@merchants.ng
2. Registration
- In order to use the Services You are required to register on the Website as a Customer
(“Registration”). You will be required to complete the Registration form on the Website and then
create a username and password for You to access your account on the Website and the Platform
(“Account”). Registration is free and upon completion of the Registration process, you will
receive an email confirmation from MerchantsBox™ (“Registration Email”). Ensure that you
click on
the link in the Registration Email to confirm your Account.
- In the Registration, You will be required to furnish us with certain personal information
including but not limited to means of identity, particulars of your finances (such as bank
account details) (“Information”).
- When creating a user name you must choose a name that is not vulgar, offensive, disparaging to
others or to Cowries or our Website. Creating a user name that purposely misleads others or
advertises any goods or services is strictly prohibited. Your username must not violate any type
of copyright laws or intellectual property rights. Cowries at is sole discretion may freeze
or close your Account without notice if you create a user name that violates any of these
conditions.
- Membership as a registered Customer is open to all individuals aged 18 years or above and who
legitimately carry on business in accordance with the relevant laws and regulations applicable
to them and the businesses the carry on and have been duly licensed by the relevant ministry,
department or agency of the government. We reserve the right and absolute discretion to deny
Registration to, and/or exclude any individual from our Website. We also reserve the right to
suspend, revoke or amend Your Registration in our absolute discretion.
-
If you apply to become a Customer, You hereby warrant to Cowries that:
- You do not owe Cowries any money;
- You are above the age of 18 years and have the legal capacity to enter into legal
binding contract and where relevant You have obtained all required consent, approvals,
authorizations and permits (regulatory, statutory, contractual or otherwise) to register
on the Website and/or use the Services;
- The Information is true, accurate, complete and not misleading and do not infringe any
copyright, trademark, patent or other intellectual property, privacy rights or
proprietary rights of any third party (“IP Rights”);
- Where the IP Rights in the Information belongs to a third party you have obtained all
requisite consents and approvals to use the IP Rights and that You have been granted the
right to license the use of the Information to Cowries;
- Your Registration and use of the Platform shall be valid and binding obligation on You
and is not contrary to any license, authorization or approval issued to you by any
relevant governmental body nor in breach of any arrangement, agreement, understanding to
which you are party
- Accounts and Registrations are non-transferable and non-assignable
3. Modifications to Website
We reserve the right to make changes and/or corrections, alter, suspend or discontinue any aspect of
our Website or the content or Services available through it, including Your access to it at any
given time. Unless explicitly stated to the contrary, any new features including new content and/or
the release of new software tools or resources shall be subject to these Terms and Conditions.
Furthermore, Cowries may post additional rules for the usage of the Website and/or the Platform
which will be posted on the Website. It is the Customer’s responsibility to periodically review any
and all changes made to the Terms and Conditions prior to each use of the Website and/or the
Platform and by using the Website and/or the Platform, You agree in advance to accept any such
changes.
4. Our Website, Your Information & Account Security
- Your use of our Website and the Platform amongst other things provide the functionality and
method through which you borrow and repay money over the Platform. Cowries will provide You
with every practical and reasonable help you may require to access the Website but we cannot
accept responsibility if You are unable to do so for any reason. Cowries does not guarantee
You access to the Website and/or the Platform at any time. Cowries Does not guarantee that
while You are accessing the Website and/or the Platform Your access will be uninterrupted,
without delay or interference, secure and/or error free, or indeed operate as set out and
anticipated in these Terms and Conditions. Accordingly, Cowries reserves the right at any
time to suspend or discontinue the Website and/or Services for any reason without incurring any
liability or obligation to you. Cowries shall not be responsible for any disruption to the
Website and/or the Platform regardless of length and will bear no liability in respect of losses
accruing to Your inability to access due disruption on the Website and/or the Platform.
Therefore, Cowries shall not be responsible for any liability or obligation under this
agreement which are prevented or interfered with due to acts or conditions beyond the reasonable
control or expectation of Cowries
- As long as You comply with these Terms and Conditions and the other documents incorporated by
reference, we will provide you with such access to the Website and Services as we are able to
deliver on the basis set out in these Terms and Conditions. However, Cowries reserve the
right in our discretion to terminate or suspend Your Registration and/or access to the Website
or the Platform.
- When You apply to become a registered Customer and during your use of the Website and the
Services, You will provide Us with data. We will respect the privacy of such data which shall
include your Information other commercial and business information which Cowries may
require in respect of funds advanced via the Platform and subject to your approval, Cowries
may obtain further information from your bankers and such other accredited credit reporting
bureau or agent (“Personal Information”) We will only collect, use, disclose or process your
data and Personal Information in accordance with our privacy policy and only for the purpose of
the Services, which You accept by your continued use of the Website or the Platform. You must
keep your data accurate and up-to-date and promptly send Us any new or amended data. We will
only share your data with other parties as set out in our Privacy Policy, as provided in these
Terms and Conditions and/or with your prior consent.
- Please review our Privacy Policy, which is incorporated by reference into these Terms and
Conditions in respect of how We collect and otherwise process Your Personal Information.
- Pursuant to the applicable laws on cyber security, Cowries has in place electronic,
physical and procedural safeguards necessary for the protection of the Website and the Personal
Information of our Customers. However, there is no absolute security of information or data
transmitted over the internet as such Cowries cannot give an absolute guaranty of security
in this respect. We will promptly notify you of any security breach of confidentiality or the
security of the Personal Information in the event of a security breach and shall take all
necessary steps to protect the confidentiality of Your Personal Information. Subject to
subsequent notification in respect of change, We will notify You through your most recently
communicates email address
- You agree that You will act lawfully, diligently and honestly at all times when You access and
use the Website or the Platform or Services and will comply with all laws and regulations
applicable to your use of the Website or the Platform. Your use of the Website or Platform shall
be solely for legitimate business purposes breach of which would amount to criminal and civil
liability under the applicable laws of the Federal Republic of Nigeria.
- You warrant that all the details you supply on Registration or at any time thereafter are and
will remain true and accurate.
- You agree that You will not interfere with, jeopardise, disrupt or harm the Website or the
Platform/Services and that You will not intercept, expropriate, re-use, steal or re-utilise any
system, data, photographs or information comprised in or provided to You via the Website or the
Platform.
- You agree that You shall keep your user name and password confidential and not disclose them to
or share them with anybody. You shall be solely liable for actions taken using your username and
password to access the Website or the Platform, whether taken by You or third parties and/or
with or without your consent or knowledge.
- You shall indemnify and keep Cowries, its affiliates, directors, employees, agents,
representatives and Cowries third party service provider indemnified and to defend and hold
each of them harmless, from any and all claims, actions, liabilities, damages and costs
(including attorney’s fees) which may arise from any unauthorized use of the Website, the
Services or the Platform and/or the your breach of this Agreement.
- If You believe the confidentiality of your username and/or password or the Personal Information
has been compromised, You must tell Us immediately. We will use our reasonable endeavors to
provide You with an alternative username and/or password, although we reserve our absolute
discretion to restrict or terminate your use of the Website and the Platform as set out in these
Terms and Conditions.
- An electronic communication with Cowries is initiated each time You visit the Website and
or send Us an electronic mail. You hereby consent to receiving communications from us
electronically through electronic mails or posting of notices on the Website. You hereby agree
that all agreement, notices, disclosures and other communications that we provide to
electronically on the Website satisfy all legal requirements that such communications be in
writing if such requirements are applicable.
-
The following applies to any Personal Information You provide us, for example during
Registration or using the Services:
- You authorize us to use, store or otherwise process any Personal Information which
relates to and identifies You, including but not limited to your name and address, to
the extent reasonably necessary to provide the Services which are available through the
Website and/or the Platform
- When you apply for and/or obtain a loan via the Platform we may collect information
about your buying behavior as well as personal correspondence such as e-mails, letters,
post reviews or other messages in the chat areas of the Website. All such information
collected by us shall also be included in the definition of ‘Personal Information’ in
this Terms and Conditions.
- You must ensure that the Personal Information You provide is accurate and complete and
that all ordering or registration details (where applicable) contain your correct name,
address and other requested information. In addition, the following also applies to all
messages, e-mails, ideas, suggestions, concepts or other material submitted by You to
the Website and/or the Platform(‘Contentt’):
- You must own or have the right to submit Content for publication on our Website and/or
the Platform and all Content submitted by You must be honest, decent and truthful and
comply with all applicable legislations and subsidiary legislations;
- You must ensure that all Content submitted do not infringe the copyright, privacy,
publicity, trade mark or any other rights of any third party, nor be obscene, abusive,
threatening, libelous or defamatory of any person or be otherwise unlawful.
- We have the right to monitor Content and may edit, reject or remove Content if we
believe it does not comply with the above and, in particular, we reserve the right to
block Contents if we believe that such contents are or may be inappropriate or otherwise
does not comply with the above.
- Your Registration will be suspended or permanently terminated if (a) you provide false
information when registering, such as a false name, you use pseudo-names or fraudulent
contact information (b) or your Content is contrary to these Terms and Conditions.
- You grant us a non-exclusive, irrevocable, royalty free, worldwide license to publish
all Content that you submit to us except your Personal Information. You have sole
responsibility for the Content which You submit to Us and You shall indemnify and shall
keep us fully and effectively indemnified on demand from and against all actions,
claims, losses, liability, proceedings, damages, costs, expenses, loss of business, loss
of profits, business interruption and other pecuniary or consequential loss (including
legal costs and expenses) suffered or incurred by us and arising directly or indirectly
out of the publication of Content submitted by You to Cowries.
- You warrant and undertake that You will not use the Website for any purpose that is
illegal or prohibited by these Terms and Conditions or any applicable laws. If You
breach these Terms and Conditions then your permission to use this Website terminates
immediately without the necessity of any notice being given to You. We retain the right
to deny access to any person who fails to comply with these Terms and Conditions.
- Cowries reserves the right to review all uses of our Website and the Platform for
fraudulent activities. Cowries at its own discretion can terminate any Account that
is suspected of such fraudulent activity that includes but is not limited to creating
multiple Accounts under the same payment card, using fake names, abuse of the system.
- Your use and view of the Website, the Platform and/or any information on same shall be
in accordance with this Terms and Conditions and You shall not modify, distribute,
publish, license, create derivative works from, transfer or sell any information or
content contained on the Website and the Platform.
5. Intellectual Property Rights
- The Website and the Platform are owned and operated by Cowries. The design and content
features of the Website and the Platform including information and other materials,
illustrations, design, icons, navigational buttons, images, artworks, graphics, photography,
text, data, audio sound, software and similar elements are the properties of Cowries and/or
their third party licensors (“Licensors”).
- Your use of the Website, the Platform and/or the Services and their content or the furnishing of
information to You in the course of the Service does not grant you a rights in relation to
Cowries or the Licensors’ intellectual property rights in the Website, the Platform and
their respective components.
- Other than for the Service and solely in connection with your use of our Website or the
Platform, You may not copy, reproduce, download, publish, re-publish, post, broadcast, record,
print, commercially exploit, transmit, edit, communicate to the public or distribute in any
other way our Website or its content, or the computer codes of elements which comprise the
Website and/or the Platform.
- Other than as set out in this clause 5 you are not permitted to use any of our intellectual
property rights without Cowries or the Licensors’ prior written consent.
- The contents of our Website and/or the Platform are protected by the relevant intellectual
property laws, including but not limited to the Copyright Act Cap C28 Laws of the Federal
Republic of Nigeria, the Trade Mark Act Cap T13 Laws of the Federation of Nigeria and the Patent
and Designs Act Cap P Laws of the Federation of Nigeria. The ownership of these rights is in our
name or Licensors. All product and company names and logos mentioned in or on our Website and/or
the Platform are the trademarks, service marks or trading names of their respective owners,
including Cowries. You may download material from our Website and/or the Platform solely
for the purpose of the Services.
6. Linked sites
6.1 We make no warranties, representations or undertaking whatsoever about any other websites which
You may access through the Website or which may be linked to the Website. When You access any other
website You understand that it is independent from Cowries and that we have no control over the
content or availability of that website. In addition, a link to any other website does not mean that
we endorse or accept any responsibility for the content, or the use of, such a website and we shall
not be liable for any loss or damage caused or alleged to be caused by or in connection with use of
or reliance on any content, goods or services available on or through any other website or resource.
Cowries has not reviewed any of these third party websites and/or the application and/or the
software products and as such makes no representations about them or any information, software or
other products or materials found on them or any results that may be obtained from using them. Any
concerns regarding any external link should be directed to its website administrator or web master.
6.2. If You decide to access any of the third party websites and/or application and/or software
product linked to our Website, you do so at your own risk as Cowries has no responsibility and
will bear no liability for the use of such third party website
7. Liability
- Save as otherwise stated in these Terms and Conditions, We exclude all other expressions or
implied terms, conditions, warranties, representations or endorsements whatsoever with regard to
the Services, the Website, the Platform or any information or service provided through the
Website.
- We will do our best to ensure that all materials and information published on our Website are
accurate, but please note that all content, materials and information on our Website are
provided on an ‘as is’ basis and You assume total responsibility and risk for your use of the
Website and use of all information contained within it.
- We accept no liability for any indirect or consequential loss or damage, or for any loss of
data, profit, revenue or business (whether direct or indirect) in each case, however caused,
even if foreseeable. In circumstances where you suffer loss or damage arising out of or in
connection with the viewing, use or performance of our Website, the Platform or their contents
other than as a direct result of the Services (which shall be subject to the exclusions and
limitations of liability set out in these Terms and Conditions), we accept no liability for this
loss or damage whether due to inaccuracy, error, omission or any other cause and whether on the
part of us or our employees, agents or any other person or entity.
- Cowries, its employees, agents or such other third party mentioned on the Website accept no
liability or responsibility for any damage whatsoever (including without limitation, those
resulting from lost profits, lost data, business interruption or other special consequential or
incidental damages) arising out of or in relation to the use, inability to use or the results of
information, service contained on the Website and/or the Platform, whether based on warranty,
contract, tort or any other legal theory and whether or not Cowries has been advised of the
possibility of such loss or damage.
- You are responsible for ensuring that your computer system meets all relevant technical
specifications necessary to use our Website and/or the Platform. You also understand that we
cannot and do not guarantee or warrant that any material available for downloading from our
Website and/or Platform will be free from infection, viruses and/or other code that has
contaminating or destructive properties. You are responsible for implementing sufficient
procedures and virus checks (including anti-virus and other security checks) to satisfy your
particular requirements for accuracy of data input and output.
- The limitations and exclusions in this clause do not affect your non-excludable statutory rights
and only apply to the extent permitted by applicable law.
8. General
- We may assign, transfer, novate or subcontract any or all of our rights and obligations under
these Terms and Conditions at any time.
- If any provision or term of these Terms and Conditions shall become or be declared illegal,
invalid or unenforceable for any reason whatsoever, such term or provision shall be divisible
from the other terms and conditions and shall be deemed to be deleted from them.
- These Terms and Conditions and your use of our Website are governed by the laws of the Federal
Republic of Nigeria and any dispute arising out of, in connection with these Terms and
Conditions shall be in accordance with the Mediation Rules of the Lagos State Multi-Door Court
House. For avoidance of doubt, Cowries makes no representation that the content, the
information or the Services offered through the Website or the Platform are appropriate,
available or legal in any particular location (particularly locations outside Lagos State
Nigeria). Those who choose to access the content and use the Services or obtain finance via the
Platform do so on their own initiative and are responsible for compliance with local laws, if
and to the extent that local laws are applicable.
- Failure or delay by either party enforcing an obligation or exercising a right under these terms
and conditions does not constitute a waiver of that obligation or right.
9. Tax
- Cowries follows all local, state and national tax legislations and subsidiary legislations
in respect of the Services.
10. Disclaimers
- All information posted on the Website is subject to change or removal without notice.
Cowries may make changes to the materials, products, features and services available at the
Website or Platform at any time without notice. You may not use the Information for any
commercial purpose, including without limitation: (I) distribution (electronically or
otherwise); (II) resale; or (III) display, etc.
- Information, Services, and other material available through the Website and the Platform are
furnished “As Is”, “At Your Own Risk” and “As Available”, without any warranty whatsoever.
Although Cowries has attempted to provide accurate Information on the Website, Cowries
assumes no responsibility for the accuracy, merchantability or completeness of the information,
Services or other material on the Website and the Platform. The information and all other
materials on the Website and/or the Platform are provided for general information purposes only
and do not constitute professional advice of any kind.
- All other warranties, express or implied, including any warranties of merchantability, or
non-infringement of intellectual property are specifically excluded and disclaimed. Cowries
does not warrant that the information on the Website or the Platform will meet user’s
requirements and that the operation of the Services will be uninterrupted or error free, or that
the Website or the server that makes it available are free of viruses or bugs.
- Cowries’s obligations with respect to its products and services are governed solely by the
agreements under which they are provided and nothing on the Website should be construed to alter
such agreements. The materials and Services at the Website may be out of date and Cowries
makes no commitment to update the materials and Services at the Site.