Terms of Service

Acceptance of Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you ("Member", "User", "you") and Chadvent Nigeria Limited ("Chadvent MPCS", "we", "us", "our"), the operator of the Chadvent MPCS mobile application and related services ("the App" or "Services").

By downloading, installing, registering for, or using the Chadvent MPCS app, you confirm that you have read, understood, and agree to be bound by these Terms, our Privacy Policy, and any additional guidelines, rules, or policies applicable to specific features of the Services.

If you do not agree to these Terms, do not use the App. Your continued use of the App after any changes to these Terms constitutes acceptance of the revised Terms.

Eligibility

To use Chadvent MPCS, you must meet all of the following criteria:

• Be at least 18 years of age (or the age of majority in your jurisdiction if higher)
• Be a registered member of a cooperative society that is affiliated with Chadvent MPCS, or have been invited to register by a cooperative administrator
• Have a valid Nigerian bank account and Bank Verification Number (BVN)
• Provide accurate, complete, and current information during registration
• Not be subject to any sanction, court order, or legal restriction that would prohibit participation in a cooperative financial scheme
• Not have had a Chadvent MPCS account previously suspended or terminated for violations of these Terms

We reserve the right to verify your eligibility at any time and to suspend or terminate your access if eligibility criteria are not met.

Account Registration & Security

3.1 Account Creation

Your account is created by your cooperative society administrator or through our self-registration flow upon verification of your membership. You must provide accurate personal information including your full legal name, date of birth, BVN, phone number, and a valid government-issued ID.

3.2 Account Security

You are responsible for maintaining the confidentiality of your login credentials, PIN, and any authentication tokens. You must:

• Keep your password and PIN strictly confidential and not share them with any person
• Notify us immediately at security@chadventmpcs.ng if you suspect unauthorised access to your account
• Ensure you log out after each session on shared devices
• Not allow any third party to access or use your account on your behalf

We are not liable for any loss or damage arising from your failure to maintain account security, except to the extent caused by our own negligence.

3.3 One Account Per Member

Each cooperative member may hold only one Chadvent MPCS account. Creating multiple accounts is a violation of these Terms and may result in permanent suspension.

Cooperative Membership

Access to financial services within Chadvent MPCS is conditional on your active membership in a registered cooperative society that has been onboarded to the platform. Your cooperative society's rules, bye-laws, and resolutions govern your rights and obligations as a member, in addition to these Terms.

Your cooperative society administrators have the authority to:

• View and manage your account balances and transaction history
• Approve or reject loan applications
• Set contribution schedules, minimum savings thresholds, and loan eligibility criteria
• Suspend your access pending investigation of disputes or non-compliance with cooperative rules

Chadvent MPCS is a technology platform and is not a party to the cooperative relationship between you and your cooperative society. Disputes arising from your cooperative membership must be resolved under the applicable cooperative society's dispute resolution process.

Financial Services

Chadvent MPCS provides the following financial management services through the app:

• Multi-account management: Share Capital, Thrift Savings, Special Deposits, Commodity Trading, Project Financing, and Loan Accounts
• Transaction processing: Deposits, credits, and account-to-account transfers within the cooperative system
• Real-time balance tracking: Up-to-the-moment account balances and transaction histories
• Loan management: Loan application, status tracking, disbursement, and repayment processing
• Receipt generation: Downloadable and shareable transaction receipts for all activities

Deposits & Payments

6.1 Payment Processing

All payments made through the Chadvent MPCS app are processed by Paystack, a licensed payment service provider. By making a payment, you agree to Paystack's terms of service and privacy policy in addition to these Terms.

6.2 Transaction Finality

All confirmed transactions are final and irreversible once Paystack payment verification is complete and your account has been credited. You acknowledge that:

• Deposits cannot be reversed or recalled once credited to your account
• Disputes regarding payment amounts should be raised with your cooperative administrator
• Erroneous payments (e.g. wrong account type, wrong amount) must be reported within 24 hours for possible correction

6.3 Transaction Accuracy

All balances are maintained in minor currency units (kobo) to ensure absolute accuracy. Transaction amounts displayed in naira are converted from kobo values. You acknowledge that minor rounding differences in display are a function of currency unit conversion and do not represent financial discrepancies.

6.4 Failed Transactions

If a payment is debited from your bank account but not credited to your Chadvent MPCS account, contact support at support@chadventmpcs.ng with your transaction reference within 48 hours. We will investigate and resolve within 5 business days.

Loan Services

7.1 Loan Eligibility

Loan eligibility is determined by your cooperative society based on their bye-laws, your savings history, contribution track record, and any other criteria set by your cooperative administrators. Chadvent MPCS facilitates the loan application process but does not make loan approval decisions.

7.2 Loan Application

When you apply for a loan through the app, your application is submitted to your cooperative society's administrators for review. You agree to provide accurate information in your loan application. Providing false or misleading information may result in immediate rejection, account suspension, and potential legal action.

7.3 Loan Disbursement

Approved loans are disbursed to your designated bank account or credited to your cooperative account as determined by your cooperative society's policies. Disbursement timelines are set by your cooperative and are not guaranteed by Chadvent MPCS.

7.4 Loan Repayment

You are responsible for making loan repayments in accordance with the schedule set by your cooperative society. Late repayments may attract penalties as specified in your cooperative's bye-laws. Chadvent MPCS will automatically update your loan balance and account records upon receipt and verification of repayment.

Fees & Charges

Chadvent MPCS may charge the following fees for use of the platform:

• Transaction fees: A nominal processing fee may apply to certain transactions as displayed in the app before you confirm
• Cooperative membership fees: Any cooperative membership dues, fines, or levies as determined by your cooperative society's administrators
• Loan interest: Interest rates on loans are set by your cooperative society and will be clearly displayed in the loan offer before acceptance

All applicable fees will be clearly disclosed before you confirm any transaction. We will not charge any fee that has not been disclosed to you in advance.

Prohibited Activities

You agree not to use the Chadvent MPCS app for any of the following:

• Providing false, inaccurate, or misleading information during registration or in any transaction
• Using another member's account or impersonating another person
• Attempting to hack, reverse engineer, or gain unauthorised access to the platform or another user's account
• Using the platform to launder money or finance any unlawful activity, in violation of Nigeria's Money Laundering (Prevention and Prohibition) Act
• Engaging in any activity that disrupts or degrades the performance of the app or its underlying infrastructure
• Using automated scripts, bots, or other means to access the app in an unauthorised manner
• Circumventing any security, payment verification, or access control measures of the platform
• Using the platform for any purpose that violates applicable Nigerian law, cooperative society regulations, or these Terms

Violation of these prohibitions may result in immediate account suspension, termination, reporting to relevant authorities, and civil or criminal legal action.

Intellectual Property

The Chadvent MPCS app, including its design, source code, logos, trademarks, text, graphics, and all other content, is owned by or licensed to Chadvent Nigeria Limited and is protected by Nigerian and international intellectual property laws.

You are granted a limited, non-exclusive, non-transferable, revocable licence to use the app solely for its intended purpose as a cooperative financial management tool, subject to these Terms.

You may not copy, reproduce, modify, distribute, or create derivative works from any part of the app without our prior written consent. You may not use our name, logo, or trademarks without our express written permission.

Disclaimers

The Chadvent MPCS app is provided on an "as is" and "as available" basis. While we strive for 99.9% uptime and accuracy, we do not warrant that:

• The app will be uninterrupted, error-free, or free from viruses or other harmful components
• The results obtained from use of the app will be accurate, reliable, or meet your requirements
• Any defects in the app will be corrected within any specific timeframe

We are not responsible for any actions, decisions, or omissions of your cooperative society administrators, including loan approval decisions, account restrictions, or financial policies.

We are not a financial adviser. Nothing in the app constitutes financial, investment, or legal advice. You should seek independent professional advice before making significant financial decisions.

Limitation of Liability

To the maximum extent permitted by Nigerian law, Chadvent Nigeria Limited and its directors, officers, employees, and agents shall not be liable for any:

• Indirect, incidental, special, or consequential damages arising from your use of the app
• Loss of savings, investment returns, or financial opportunity
• Damage arising from unauthorised access to your account due to your failure to secure your credentials
• Losses caused by third-party payment processor failures (Paystack), network outages, or force majeure events
• Actions, decisions, or errors made by your cooperative society administrators

Our total aggregate liability to you for any claim arising from your use of the app shall not exceed the total fees paid by you to Chadvent MPCS in the 12 months preceding the claim.

Nothing in these Terms limits our liability for death or personal injury caused by our negligence, or for fraud or fraudulent misrepresentation.

Indemnification

You agree to indemnify, defend, and hold harmless Chadvent Nigeria Limited, its directors, officers, employees, agents, and successors from and against any and all claims, damages, losses, costs, and expenses (including reasonable legal fees) arising from or related to:

• Your breach of these Terms or any applicable law or regulation
• Your use of the app in a manner not authorised by these Terms
• Any false, misleading, or inaccurate information you provided during registration or in any transaction
• Your infringement of any third party's intellectual property, privacy, or other rights

Suspension & Termination

14.1 Termination by You

You may request closure of your Chadvent MPCS account at any time by contacting support. Account closure is subject to: settlement of any outstanding loan balances, resolution of any pending transactions, and compliance with your cooperative society's exit procedures.

14.2 Suspension or Termination by Us

We may suspend or terminate your account immediately and without notice if:

• You breach any provision of these Terms
• We receive a lawful instruction from a Nigerian regulatory or law enforcement authority
• Your cooperative society terminates your membership
• We reasonably suspect fraudulent, illegal, or abusive activity on your account
• You fail to complete KYC verification within the required timeframe

14.3 Effect of Termination

Upon termination, your access to the app will be revoked. Outstanding balances will be settled in accordance with your cooperative society's policies. Financial records will be retained as required by Nigerian law.

Governing Law & Dispute Resolution

These Terms are governed by and shall be construed in accordance with the laws of the Federal Republic of Nigeria, without regard to conflict of law principles.

15.1 Informal Resolution

Before initiating any formal proceeding, you agree to contact us at legal@chadventmpcs.ng to attempt to resolve the dispute informally. We will make reasonable efforts to resolve the dispute within 30 days of receiving your notice.

15.2 Formal Disputes

If informal resolution fails, disputes shall be referred to arbitration in accordance with the Arbitration and Mediation Act 2023 of Nigeria. The seat of arbitration shall be Lagos, Nigeria. The language of arbitration shall be English.

Nothing in this clause prevents either party from seeking urgent injunctive or interim relief from a Nigerian court of competent jurisdiction.

Changes to These Terms

We reserve the right to modify these Terms at any time. When we make material changes, we will:

• Notify you via push notification and in-app banner at least 14 days before the changes take effect
• Send an email notice to your registered email address
• Update the "Last Updated" date at the top of this document
• Present the updated Terms for your acceptance on next app login for material changes

If you do not agree to the revised Terms, you must stop using the app and request account closure before the effective date. Continued use of the app constitutes acceptance of the revised Terms.

Contact Us

For all questions, complaints, legal notices, or support requests relating to these Terms, please contact us: