Aposhashamura

Terms & Conditions

These terms and conditions apply to and regulate the provision of Financial Technology Services via the Aposhashamura web & mobile application interfaces to the user herein.

These terms and conditions constitute the 'Service Provider' offer and sets out the terms governing this agreement.

By providing requisite information & clicking the submit button, an account is automatically set up with Aposhashamura

 

HOW TO USE APOSHASHAMURA ACCOUNT

This is an open-end single sign-on account where you can access our various Financial Technology Services - whether you want to Borrow, Lend, Invest or Save. All these services are accessible on a single platform and is 100% online.

  • The Borrow platform gives direct loan or credit facility through the Aposhashamura Mobile App at 0.05-1% interest rate daily on our loans while you repay the loan or credit facility on a future date via Direct Debit, Cash Transfer or electronic repayment from your debit/credit card. You may access a loan through our wide ranges of products- Unsecured Personal Loan (UPL), Secured Personal Loan (SPL), Asset Acquisition Finance, HMO Premium Finance, etc.
  • The Lend platform provides a Peer-to-Peer, otherwise known as P2P Lending service. A P2P Lending service is typically a service that matches a lender with a borrower on our online platform called the Aposhashamura Tenant Board (ATB).
  • The Invest platform allows investors who are seeking to divert their portfolio have designed opportunities to invest in pre- assessed low to medium primary and secondary investment opportunities with minimum of N5,000. All our investments have the least possible execution risk & proper insurance cover. Expand your portfolio by investing in various commerce such as Fixed Income Instruments, Real Estate, Agric Businesses, etc.
  • The Save platform provides a platform for you to save consistently towards a goal. You can create a personal savings challenge on the Aposhashamura Savings Platform. Save for your wedding, rent, school fees, vacation, towards starting a new business & earn income while at it!
  1. DEFINITION

  • "Borrower" means any person who successfully opens an Aposhashamura account via the Aposhashamura platform and includes an account holder of Aposhashamura that successfully applies for a loan via the Aposhashamura mobile app
  • "Lender" means any person who successfully opens an Aposhashamura account via the Aposhashamura Tenant Board and must be a Sophisticated Opportunist. A sophisticated person is intelligent and knows a lot, so that they can understand complicated situations while Opportunists are people who see a chance to gain some advantage from a situation, often at the expense of ethics or morals. An opportunist seizes every opportunity to improve things for himself. A lender is also a Loan Originator who services borrowers on the Aposhashamura P2P Lending Platform, called the Aposhashamura Tenant Board (ATB), otherwise referred to as a ‘Tenant’
  • "Investor" means any person who successfully opens an Aposhashamura account via the Aposhashamura platform and includes an account holder of Aposhashamura that successfully subscribes to ‘Capify’. Capify allows investors who are seeking to divert their portfolio have designed opportunities to invest in pre- assessed low to medium primary and secondary investment opportunities with minimum of N5,000. All our investments have the least possible execution risk & proper insurance cover. Expand your portfolio by investing in various commerce such as Fixed Income Instruments, Real Estate, Agric Businesses, etc.
  • "Saver" means any person who successfully opens an Aposhashamura account via the Aposhashamura platform and includes an account holder of Aposhashamura that successfully creates a personal savings challenge to save towards a financial goal on the Aposhashamura platform
  • "Service Provider" shall mean Aposhashamura and such definition shall include its affiliates, a subsidiary of Zoltan Crest Group, for the purpose of account openings via the Aposhashamura application interfaces & providing Financial Technology Services.
  • "Account" means the user’s account with the Service Provider
  • "CUIC" means the Customer Unique Identification. Say, this is the user bank account no. on the Aposhashamura Platform
  • "CONETFIL" means Corporate Network of Financiers, Investors & Lenders.
  • "Debt Note"means a legal document that serves as an IOU from a borrower to a creditor or to an investor. Debt Notes typically obligate issuers to repay creditor the principal loan, in addition to any interest payments, at a pre-determined date.
  • "ROI" means Returns on Investment
  • "Payment Due Date" means a maximum tenor given during a loan application process & the expected date the loan should be repaid.
  • "Credit Limit" means the maximum credit available to the borrower on opening the account with the lender
  • Loan" means the amount advanced to the borrower by the lender, which shall be no less than N5,000.00 (Five Thousand Naira Only)
  1. CUSTOMER CONSENT

By signing in the Aposhashamura app (web or mobile), you consent and agree that:

  • We can provide material and other information about your legal rights electronically
  • We are authorized to share, receive and use data/information collected from your transaction with other affiliated third parties
  • Your electronic signature on agreements and documents has the same effect as if you signed them using ink on paper or any other physical means
  • We can send all important communications such as billing statement, demand notes and reminders (collectively referred to as "Disclosures") to you electronically via our in-app notification on our website through your account dashboard or to your & email address provided to us when signing up on the platform or any other mode we deem fit.
    We will alert you when disclosures are available using the modes of communication listed above- electronic emails, in-app notification through your dashboard or the email address provided when signing up on the platform
  • All electronic disclosures will have the same effect as if they were provided in hard copy whether you chose to view the disclosures, or not.
  1. TRANSACTION FEE

  • The transaction fee for the services on the Aposhashamura platform shall vary according to the type of services provided
  • The transaction fee does not preclude the Service Provider from charging default fees, penalty fee and in the event of any dispute arising from these terms and conditions – the cost of litigation/solicitors, arbitration or any other form of legal settlement
  • The transaction fee may be increased or decreased from time to time by the Service Provider. Such change in transaction fee will take immediate effect and shall become payable from the user’s account having received written notice for a period no less than fifteen days prior to the date change in transaction fee is to occur
  • Total transaction fee on the loan service will still be due in the event of the borrower liquidating the loan before expiration
  1. BORROWER’S OBLIGATIONS

  • To pay us, the loan sum including any convenience, default or penalty fees, flat interest rate and other amounts due to the lender charge to this account. Borrower promises to pay these amounts as agreed in this agreement on or before the payment due date
  • The Service Provider reserves the right to presume that the borrower has authorized any loan application made in the name of the borrower using this account. The borrower will be deemed responsible for any unauthorized application using this account unless the borrower notifies the lender of imminent fraud by another person on his account within 24 hours of such fraud
  • To repay the loan given to you and/or to someone you authorized to use this account via direct cash transfer to a bank account listed by the Service Provider, an electronic debit from the card/account you provided on the due date. The Service Provider reserves the right to accept early repayment before the payment due date, provided the borrower has given adequate notice and repays full loan along with the flat interest rate
  • To give the Service Provider authentic and up-to-date personal, social media, phone and financial records about from time to time
  • The borrower hereby agrees to pay all cost and expenses (Including legal fees) incurred by the Service Provider in connection with any proceeding instituted by or against the Service Provider because of entering this agreement
  • He/she has the right to accept this facility and has taken all necessary steps to authorize the same upon the terms and conditions herein
  • He/she is not in default under any obligation in respect of any borrowed money that the acceptance of this facility will be or result in breach of or default under any provision of any other agreement which the borrower is a party
  • You must provide accurate information when you create your Aposhashamura account
  • You are responsible for safeguarding the password and all activities that occur under your account. You should notify Aposhashamura immediately if you become aware of any breach of security or unauthorized use of your account
  • You must always comply with our acceptable use of policy when using the service
  • You may never use another user’s account without permission
  • You may not disassemble, decompile or reverse the service or attempt or assist anyone else to do so, unless such restriction is prohibited by law
  • Our service is not intended for use by persons under the age of 18. By using the service, you are representing to us that you are over the age of 18
  • You agree to keep your card or account funded immediately you are made aware that your due date is approaching
  • You agree to update your card/account credentials immediately you are made aware that is out of date

 

  1. LENDER OBLIGATIONS

  • To make available the loan/credit facility to the borrower of a figure not less than N5,000.00 (Five Thousand Naira Only)
  • To perform the above upon confirmation of the borrower’s identity & personal information
  • Reserves the right to basic information about the borrower- Personal Information, Banking Information, Employment Information & Guarantor Information.
  • Reserves the right to transact within the trading TIER limit in which the Tenant belongs
  • Subscribe to the Aposhashamura Tenant Board through Aposhashamura sign-up process
  • Pay the Tenancy fee in order to gain access to the Aposhashamura Tenant Board
  • Top-up System Balance to service loans. This process can be done through any of the check-out options provided by the Payment Aggregator- Paystack Nigeria Limited
  • Act on allocated loans daily- either to Disburse or Reject
  • Act on Payout/Settlement Balance whenever a borrower repays a loan by either ‘Transfer to System Balance’ or ‘Bank Account’. ‘Transfer to System Balance’ top-up Tenant System Balance & makes it available to grant more loans while ‘Transfer to Bank’ directs the fund to the Tenant Bank Account.
  • Renew Tenancy at expiration
  • Abide by all the terms & conditions of the tenancy agreement of The Aposhashamura Tenant Board
  1. INVESTOR’S OBLIGATION

  • Choose any investment opportunities of choice
  • Subscribe to any plan & make payment for such subscription
  • Add a verified bank account to wallet
  • Transfer funds to bank account when investment matures
  1. SAVER’S OBLIGATION

  • Choose any savings plan of choice
  • Subscribe to any plan & make payment for such subscription
  • Add a verified bank account to wallet
  • Transfer funds to bank account when investment matures
  1. SERVICE PROVIDER OBLIGATION

To the Borrower
  • To demand repayment from the borrower as and when due
  • To conduct investigations on the borrower prior to opening account for the borrower
  • To use all reasonable and legitimate means to collect the amount extended to the borrower, the default fee, the transaction fees and any other penalty fee imposed on the borrower as a result of the loan.
  • Not to store or save borrower’s debit or credit card details given by the borrower in the application form.
To the Lender
  • Hosts party on the Aposhashamura Tenant Board (ATB), otherwise called ‘Tenant’ under a one-year tenancy agreement beginning from the Effective Date. The expiration date of the Tenancy is displayed on the Tenant Board. This Tenancy must be renewed after expiration for the Tenant to continue to have access to the dashboard
  • Provide a platform hereby defined as Aposhashamura Tenant Board (ATB) to enable tenants to service & manage qualified borrowers allocated by Aposhashamura on daily basis
  • Provide investment theme in TIERS of Investment to accommodate different classes of Tenants
  • Provide all required technologies and tools, through the Aposhashamura Tenant Board, to the Tenant for smooth running of loan service activities
  • Implement pre-approval credit checks and Review loan applications by validating the information provided by the borrower & obtaining a valid credit report from The Credit Registry Bureau
  • Carry out an appropriate Credit Risk Assessment on the borrower to determine ability to repay a loan before passing such loan to the Tenant Board
  • Provide the agreed number of scrutinized loans to the Tenant Board daily.
To the Investor
  • Host the user on the Aposhashamura Investment Platform
  • Design Investment opportunities with minimal low execution risk & proper insurance cover
To the Saver
  • Host the user on the Aposhashamura savings Platform
  • Design Investment opportunities with minimal low execution risk & proper insurance cover
  1. CREDIT REFERENCE

  • The Service Provider or its duly authorized representatives/agent will utilize dedicated credit agencies for credit report on the borrower in considering any application for credit.
  • The borrower authorizes the Service Provider to access any information available to the Service Provider to access any information available to Service Provider as provision by the credit agency
  • The borrower also agrees that the borrower’s details (save the details) and the loan application decision may be registered with the credit agency.
  1. SET-OFF

The Service Provider may at any time with or without notice

  • combine or consolidate some or all the user’s accounts without any liability to the Service Provider and
  • set off and transfer any sum standing to the credit of any such account in full or partial payment of any amount the user owes to the Service Provider.

This clause is in addition and does not amend or qualify any other present of future right of the Service Provider to combine or set off the user’s accounts with it.

After five (5) working days of the user being notified of a default, the user grants the Service Provider the right to pay this obligation from the sale of user’s inventory without notice, to activate the Direct Debit Mandate to recover proceeds from the user’s corporate and personal accounts.

  1. YOUR USE OF APO-SHASHAMURA SOFTWARE

As part of the service, we provide downloadable client software (the "software") for your use in connection with the services. This software may update automatically and if such software is designed for use on a specific mobile or desktop operating system, then a compatible system is required for use. So long as the user complies with these terms, we grant you a limited, non-exclusive, non-transferable, revocable license to use the software, solely to access the service provided, however, that this license does not constitute a sale of the software or any copy thereof, and as between Aposhashamura and the user. Aposhashamura retains all right, title and interest in the software.

  1. ADMINISTRATOR ACCESS TO YOUR CONTENT

When you sign up for our service, you associate one or more email address with your account. If you use an email address provided to you by a third-party entity of which you are a part (such as [email protected] or [email protected]) (each an "entity") you hereby grant that entry and its administrator(s) permission to access, use, download, export, disclose, share, restrict and /or remove content that you have associated with the email address that includes their domain.

You acknowledge and understand that an entity may elect to utilize one or more third party applications in connection with their terms’ use of the service and that by associating content with an email address that includes an entity’s domain, you are granting permission to have such content shared with such third-party application(s). you also acknowledge and understand that entry may restrict or terminate your access to content associated with the email address that includes their domain. Please remember that you can associate more than one email address with your Apo-Shashamura account, so you may want to consider associating personal content with a personal email address.

  1. YOUR USE OF THIRD PARTY APPLICATION

If you elect to utilize any third-party application in connection with your use of the service, by doing so you are consenting to your content being shared with such third-party application. To understand how such third-party application provider utilizes your content and other information, you should review their privacy policy.

  1. RIGHT TO COLLECT ON DEBT

By using this service, you agree to grant us an irrevocable written authorization to issue open-ended debit mandates for all accounts you own now, or at any point in the future. If you default, you agree that Aposhashamura has your written authorization to place a lien on every account you own now, or at any point in the future, to recover any outstanding balance you owe us at the execution of the direct debit mandate.

You further agree that if you default we may execute such direct debit mandates, singularly or severally from one or more of your accounts, without any notice or further obligation to you, and may continue to execute direct debit mandates on your accounts until such time as your financial obligation to us have been fulfilled. We warrant and represent that we will only execute direct Debit mandate if you default on your financial obligations to us.

  1. RIGHT TO NOTIFY

By using the service, you grant us an irrevocable written authorization, in the event you default to notify anyone, publicly or privately, by any means of communication we deem appropriate or necessary about your default.

You agree to allow us to use your personal data, or any other means or manner we deem appropriate or necessary to determine whom to notify. We warrant and represent that we will only make such notifications if you default on your financial obligations to us.

  1. SECURITY

We will use industry standard technical and organizational security measures in connection with the storage, processing and transfer of your content that are designed to protect the integrity of that content and to guard against unauthorized or unlawful access to, use of, or processing of such content

  1. TERMINATION

You are free to stop using our service at any time. We also reserve the right to suspend and end the service at any time at our discretion and without notice. We may also terminate or suspend your access to the service at any time if you are not complying with these terms or if you are using the service in a manner that we believe may cause us financial or legal liability.

In addition to termination by default, we may terminate this agreement at any time and for any reason subject to the requirements of applicable law.

We can terminate your account by sending writing notice to the address on your application.

If there is no debit or credit on the account for 12 consecutive months, we may terminate the account without notice to you

When termination arises as a result of default you will not be able to sign in on the Aposhashamura platform in the future.

  1. APOSHASHAMURA INTELLECTUAL PROPERTY RIGHTS

The Services (excluding content provided by users) constitutes Aposhashamura’s intellectual property and will remain the exclusive property of Aposhashamura and its licensors.

Any feedback, comments, or suggestions you may provide regarding the service is entirely voluntary and we will be free to use such feedback, comments or suggestions as we see fit

  1. COPYRIGHT

Aposhashamura respects the intellectual property rights of others and we expect our users to do the same, we respond to notices of alleged copyright infringement if they comply with the law and such notices should be reported to our copyright agent.

  1. MODIFICATIONS OF THE SERVICE

These services may be modified from time to time, often without prior notice to you. Your continued use of the services constitutes your acceptance of such modifications. If you are not satisfied with a modification, we make to any of the services, your sole remedy is to terminate your use of the service.

  1. INDEMNIFICATION

You agree to defend, indemnify and hold harmless Aposhashamura and its licensee and licensors, and their employees, contractors, agents, officers and directors, from and against any and all claims, damages, obligations, loses, liabilities, costs or debt, and expenses (including but not limited to attorney’s fees) arising from your use of and access to the service or the software, or from or in connection with any content uploaded to the service through your account by third party using your account with your knowledge or consent.

  1. NO WARRANTY

The services are provided on an "as is" and "as available" basis without any warranty of any kind, whether express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement. Aposhashamura is not responsible for any third-party content that you download or otherwise obtained using any of the services or for any damage or loss of data that may result.

We do not warrant, endorse, guarantee, or assume responsibility for any third-party application or service that provides access to our service. The service is controlled, operated and hosted from within. We make no representations that the service is appropriate or available for use in other locations. Those who access or use the service from other jurisdictions do so at their own risk and are responsible for compliance with all applicable Nigerian Laws and Regulations, including but not limited to export and import regulations

  1. LIMITATION OF LIABILITY

To the maximum extent permitted by law, in no event shall Aposhashamura, its affiliates, agents, directors, employees or suppliers be liable for any direct, indirect, punitive, incidental, special, consequential or exemplary damages, including without limitation damages for loss of profits, goodwill, data or other intangible losses that result from the use of, or inability to use, the service, whether or not Aposhashamura has been warned of the possibility of such damages and even if a remedy fails of its essential purpose.

  1. GOVERNING LAW

These terms will be governed by the laws of the Federal Republic of Nigeria.

  1. DATA TRANSFER

In connection with providing you these services, Aposhashamura may transfer, store and process your content in Nigeria, or in any other country in which Nigeria or its agents maintain facilities. By using any of these services, you consent to this transfer, processing and storage of your content.

  1. ENTIRE AGREEMENT, SEVERABILITY; WAIVER

These terms constitute the entire agreement between you and Aposhashamura concerning the services replace any prior or contemporaneous agreements, terms or conditions applicable to your use of these services.

If a provision of these terms is found to unenforceable, the remaining provisions of these terms will remain in full force and effect and enforceable term will be substituted reflecting as closely as possible our original intent. Aposhashamura’s failure to enforce any provision of these terms shall not be deemed a waiver of its right to do so later.

  1. ASSIGNMENT

These terms and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by us without restriction. Any attempted transfer or assignment by you will be null and void.

  1. NOTICES

We may provide you with legal notices and notices related to your account via email using the address associated with your account. We may provide you with other marketing or business-related information, including information about service updates or changes, via email or via our blog

Whether you need to Borrow, or you have some free cash to Lend to make some gains, or you have Investment goals, or you need to Save for the rainy day, all on a single platform.