Terms 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 reveivables 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 Tingo or through other channels that may be developed and/or used from time to time by the Services Provider for that end.

2.USING THE PLATFORM

To use the Platform, You must:
(a) accept and agree to these Terms of use and the Privacy Policy which can be accessed here
(b) register with us on the Flowood Platform;
(c) provide all information as may be requested by us, such as your name, occupation, email address, mobile device number, online credentials for your bank account, and such other information as we may request from time to time .
You may use the Platform to obtain information on the loan offer, registering for obtaining loan, communicating with the Services Provider, or other features provided in the Platform by the Services Provider from time to time.

3. CREATING THE ACCOUNT

3.1 To enjoy certain services in the Platform, you may be asked to create an account in the Platform. In creating the account, you may be asked to provide data related to you.

3.2 You hereby represent and warrant that the data you submit for creating the account are true and correct as well as actual. You agree that your representation on the correctness and accuracy of the data you submit under this Article is sufficient act to verify the data you provide. Nevertheless, you agree that the Services Provider may carry out other actions that are necessary to verify the correctness and accuracy of the data you provide.

3.3 You hereby represent and warrant that you have the capacities and power necessary to create the account in the Platform, either under the laws and regulations or under any contractual obligations binding upon you, and you indemnify the Services Provider against any losses, claims, and actions in relation to the creation of the account in the Platform which is not in line with the representations and warranties that you provide.

3.4 Please keep your account and password confidential. You acknowledge and agree that there is no 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. USING THE ACCOUNT

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, nore than one account in the Platform.

4.5 The Services Provider shall have the rights to close your account if you do not comply with the Terms of Use. However, you shall be responsible for the contents you upload which are in violation of the Terms of Use, and you shall indemnify the Services Provider against any kinds of consequences arising out of the contents you upload to the Platform which are 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 Platform and all its components may contain copyrights, trademark, patent, or other intellectual properties owned by the Services Provider. You are not allowed in any manner whatsoever to use, copy, distribute, or obtain economic rights from any components in the Platform without prior permission from the Services Provider.

6.2 Subject to the Terms of Use of the account referred to in Article 4 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. This provision is subject to Privacy Policy which can be accessed here.

7. NO WARRANTY

7.1 Services Provider provides the services through the Platform on an as is basis without any warranties on the availability, performance, free-of-error, free-of-mistake or any other warranties, express or implied, in relation to the use of the Platform. You understand that the electronic system is vulnerable against the malfunction or disruption and there is no such a perfect system that can handle any kind of error. Although the Services Provider will make best effort to handle each and every system malfunction, the Services Provider shall not be responsible if the system malfunction is caused by third party.

7.2 To the extent permitted by the prevailing laws and regulations, the Services Provider hereby disclaims any kinds of requirements, representations and/or warranties by the Services Provider, in relation to the use of Platform by you.

8. LIMITATION OF THE LIABILITY

8.1 To the extent permitted by the prevailing laws and regulations, the Services Provider shall not be responsible to you for any loss suffered in relation to the use of the Platform by you unless it can be proven that there is fault on the part of the Services Provider which directly causes the loss to you. If the loss is caused by third parties with whom you enter into legal relationship which is facilitated by this Platform, the loss shall fully be the responsibility of the third party and you agree that you shall indemnify the Services Provider against any claims, actions, or lawsuit in any forms whatsoever.

8.2 Without prejudice to the foregoing, the Services Provider shall not be responsible for any indirect losses, such as but not limited to, business continuity, loss of profits, loss of business opportunities, or damage to reputation.

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 the our customer service.