Terms and conditions

Introduction

Welcome to our Terms and Conditions of Use. These terms affect your legal rights, endeavour to read them and treat with utmost importance.

Reaprite is a seamless innovative savings and investment platform available over web and mobile applications.

Reaprite (the “Platform”), an innovative solution that connects users to savings and investment opportunities. This Platform is brought to you by Reaprite Global Limited (“Reaprite”, “we”, “us”, or “our”). We are a company duly registered with the Corporate Affairs Commission of Nigeria.

Consent

This Terms and Conditions constitutes a legally binding contract between you, (whether as a platform visitor or registered user) and Reaprite to access and use the Platform as well as its content, services, and functionality made available on or through the Platform (collectively referred to as “the Services”).

We therefore kindly request that you carefully read through these Terms and Conditions of Use (the “Terms and Conditions” or “User Agreement”) before using the Platform and click on the Agree button if you consent and agree to be bound by

• this Terms and Conditions
• the Privacy Policy (“the Policy”)

Using the mobile application, you consent to receiving electronic communication from the company relating to your account. We may communicate with you by electronic mail (email), short message service (sms) or by posting notices on the mobile application or through other methods. For contractual purposes, you consent to receive communications from us electronically and you agree that all agreements, notices, disclosures and other communications that we provide you electronically satisfy any legal requirement that such communication be in writing. You also consent to receiving certain other communication from us, such as newsletters, special offers, questionnaires, customer surveys or other announcements via email, sms or other methods. You may opt out of receiving nontransactional communications, including marketing communications from us by following the directions in our e-mail to “unsubscribe” from our mailing list, or by sending an e-mail request to [email protected]

Please be aware that if you choose not to receive such communication, certain offers attached to services you have chosen may be affected. We will still communicate with you in connection with transactional communications, including but not limited to servicing your account and customer services.

Obligations and eligibility

You must be 18 years of age or older to access our website or mobile applications. Reaprite is intended solely for individuals who are 18 or older. Any access to or use of Reaprite by anyone under 18 is unauthorized, unlicensed, and in violation of these Terms. By accessing or using Reaprite, you represent and warrant that you are 18 or older.

Your access

In order to access certain features of Reaprite, you must register to create an account ("User Account"). When you register, you will be asked to choose a password, which you will be required to use to access your User Account. Reaprite has physical, electronic and procedural safeguards that comply with regulatory standards to guard Users' and Clients' non-public personal information (see Privacy Policy).

You are responsible for safeguarding your password and other User Account information. You agree not to disclose your password to any third party and you will notify Reaprite immediately if your password is lost or stolen or if you suspect any unauthorized use of your User Account. As a User you agree that you shall be solely responsible for any activities or actions under your User Account, whether or not you have authorized such activities or actions.

You agree that the information you provide to us on account registration through our website or mobile applications will be true, accurate, current, and complete. If you wish to develop enhancements to the Reaprite service then you must do so via our "Partner Program" API. As used in these Terms, "APIs" means programmatic web APIs and associated tools and documentation that provide access to certain data displayed on our website or in our mobile applications. Access to our APIs requires you meet our Partner Program eligibility criteria and enter into a signed partnership agreement with Reaprite.

You may not scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work). If you wish to learn more about becoming a Partner, please contact [email protected]

Alerts and notification services

By creating a User Account with us, you automatically sign up for various types of alerts via e-mail and mobile notification. We will never include your password in these communications, but we may include your name, or email address and information about your portfolio(s) if you are a Client.

Anyone with access to your e-mail or mobile device will be able to view these alerts. You may unsubscribe from marketing oriented emails at any time.

Security of password

To fully enjoy our Services, you will be required to create an account and in which case you will be given (or you may provide) a username and password. Certain areas of our Services are only accessible with the use of usernames and passwords (“User Restricted Areas”). Please note that you are fully and solely responsible for any and all use of the Services and such, you are required to keep your password secret at all times.

Do not share your password with any third party or allow another person to access the User Restricted Areas using your password. Kindly notify us immediately if you have any reason to believe that your username or password has been lost or compromised or misused in any way. Also immediately report any unauthorized or suspicious activity in your account.

User information collection

In creating an Account and registering for the Services on our Platform, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as:

• Email and Phone number
• Country and Address
• Username and Password
• Bank Account Details and BVN
• A copy of your Government-issued photo ID, such as an international passport or a national drivers’ license
• A copy of a utility bill, bank statement, affidavit, or other bills, dated within three months of our request, with your name and Nigerian street address on it
• other information and documentation that we may require from time to time.

You hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information.

You agree to the use of your information provided in our records to contact you via a range of channels including but not limited to Email, Short Messaging Service (SMS), Phone Calls, push Notifications etc.

Savings terms

The Platform allows users to save funds in a seamless manner. In saving with Reaprite Platform, you agree to be bound by the following:

• You may save in your wallet whatever amount works for you. The interest on the amount saved is calculated daily, and you are entitled to an interest of 10% per annum where, free withdrawals of up to 3 times can be made by you on the wallet at any time. Withdrawing more than 3 times in a month attract a penalty of losing accrued interest for the said month.
• You may redeem interest from the interest pool twice a month to your wallet.
• That we may debit your card or online wallet according to the amount authorized by you from time to time as specified by you without further recourse to you.
• On Reap Xtra, you can choose a savings duration of either 3, 6, 9, or 12 months to be saving either daily, weekly or monthly at an interest of 12 – 16% p.a irrespective of the amount. At the end of the savings duration (maturity), both capital and interest are payed to your wallet. This is a fixed savings plan, but you can claim 25% of your saving on meeting half of the savings duration using the mid-claim feature.
• You may set auto-save, for recurring savings on you plan and wallet when you will set the amount and frequent and authorize the app to debit your card on the set date.
• You will be rewarded a bonus of ₦500 when you sign up on Reaprite for the first time and complete your profile. This N500 will be used start a ReapXtra savings plan for you.
• We may choose to end the signup bonus at our discretion
• You may refer someone to Reaprite and earn ₦500 per referral. To redeem referrals, you must save at least N2000 in ReapXtra and the person you referred must complete his/her profile with KYC
• From time to time, we may offer promotional savings offers that offer slightly higher interest to support and encourage our users in their savings journey. The terms of this promotional plans will be at our discretion.
• You agree that your funds will remain in your Reaprite wallet until you withdraw the funds from your wallet to your personal bank account for use.
• That withdrawal of funds will be initiated by you from your Reaprite wallet and funds will be transferred to your Bank Account after receiving your request, except where there is a network downtime, within 24 hours.
• We may transfer funds from your Reaprite Wallet to your Bank Account without notice to you upon the closure of your Reaprite Account and at any time if required by applicable law or if we, in our sole discretion, suspect the Services are being used for illicit purposes or otherwise in violation of these Terms.
• You may use the funds in your wallet to pay for goods and services, transfer to other platforms or third parties outside of the Reaprite platform using the transfer feature either through phone number or the recipient account number as highlighted in this Terms and Conditions.
• We are not responsible for any third-party fees that may be incurred as a result of using the Services, including, but not limited to, third-party fees incurred as a result of maintaining insufficient funds in your Bank Account.

Reap village

Reap village is a group savings plan that allows users to come together and save individually towards a goal at a 10% interest per annum.

On our platform the following terms are defined as thus:

Responsibilities/Eligibility/conditions for the Reap Village

• Anyone who wants to join a savings village is free to do so. He/She is referred to as a member and will earn 12% p.a on amount saved.
• Active Villages (group) will be advertises on our platform for members to join. Many people as possible can join a village since it’s a group savings.
• To join a village, you must have an active account on Reaprite
• If any of the member wishes to exit the village he/she can do so at will, but accrued interest is lost

Refer and Earn

New users to the Reaprite platform upon downloading the app from either play store or app store will be rewarded a signup bonus of ₦500. Redeeming this bonus is subject to;

• Completing their profile with BVN and obtaining Reaprite wallet account number
• Updating KYC with valid mean of identification.
• Upon redeeming this bonus, it is credited to the wallet

Users also agree that they may refer other users to the Reaprite platform at their own doing. On our part their effort will be rewarded with an incentive of ₦500 per referral. Users may refer as many people as possible to the Platform.
To be eligible to redeem the referral bonus, users must meet these term;
The person referred must successfully complete his/her profile with KYC and obtained their Reaprite assigned wallet account number and save a minimum of N2000 on ReapXtra plan.
We reserve the right to terminate this service at our sole discretion without having to notify the users.

Service Fees

There are no transaction charges or monthly charges for services offered by Reaprite, however, we reserve the right to charge fees for the Services in the future.
If fees will be charged for the Services, we will notify you before charging such by giving notice to you electronically, or by posting such fee on the Website, or by any other method which we may from time to time devise. If you continue using the Services after such notice, you must pay all applicable fees for the Services.

Restrictions

You can only use the Services for your own personal purpose as such, you should never disclose your username, password or any other User Information for security and confidential reasons. Ensure that your Account is not accessible to any other person but you. This Services cannot be used for commercial purposes or on behalf of a third party.

We shall not be responsible for any losses arising out of the loss or theft of your User Information or your mobile device or from unauthorized or fraudulent transactions associated with your Bank Account, BVN or your Account.

However, if you suspect or become aware of any unauthorized activity or access to your username, password, or mobile device, you must contact us immediately at 0904 400 4000 or [email protected].

Penalty Fees

Withdrawing all or part of your savings from the wallet is completely FREE of charge on the payout days. Any withdrawal made outside of maturity period attract a penalty fee. For breaking a savings plan before maturity period, users will be subjected to paying a penalty fee of 2%.

We reserve the right to charge whatsoever fees deem fit for any withdrawal. If additional fee will be charged for the withdrawal, we will notify you before charging such by giving notice to you electronically, or by posting such fee on any of the savings plan or by any other method which we may from time to time devise.

Prohibited Uses

You are prohibited from engaging in any of the following on the Platform:

• Attempt to gain unauthorized access to our computer network or user accounts.
• Modify, copy, distribute, publish, license or sell any Services or Content or any derivative work based on the Services or Content. This Terms prohibit you in any way to misuse any Services or Content that appears on the Platform.
• You represent and warrant that none of the money you transfer to and/or saved through the Platform comes from, or will be used to promote the conduct of, any crime or other illegal activity. You covenant not to transfer any money to or invest any money through the Platform that comes from, or that will be used to promote the conduct of, any crime or other illegal activity. You represent that no individual or entity has an interest in any money you use for deposits into your account with Reaprite.
• You attempt not to introduce viruses or any other computer code, files, or programs that interrupt, destroy, or limit the functionality of any computer software, hardware, or telecommunications equipment on this Platform.
• You attempt not to create an account on someone’s behalf using their personal or financial details with or without their consent as this will be considered a violation of this Terms.

Fraud prevention

• In using Reaprite Platform, you undertake that you shall comply with all applicable laws, including anti-money laundering and anti-corruption laws, regulations and codes in Nigeria. We reserve the right to at any time, suspend or withdraw your use of this Platform when we believe in our sole discretion that the Platform is being used for fraudulent purposes or for any suspicious transactions. In addition to the suspension or withdrawal of services, we also have an obligation to report your activities to the relevant authorities without any recourse to you.
• You consent to us carrying out identity and fraud prevention checks and sharing information relating to your use of the Platform with any regulatory body, and fraud prevention, law enforcement or security agency.
• You consent to us providing details to the Nigerian police or any fraud prevention, law enforcement or security agency, of any conduct on your account that gives reasonable cause to suspect that the account is being used for improper purposes

Disclaimer Warranties

Your use of our website and mobile application, and the personal information you provide is at your sole discretion. Reaprite's website and all materials, information, products and services included therein, are provided on an AS IS and AS AVAILABLE basis without warranties of any kind from Reaprite.

Reaprite EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, RELATING TO Reaprite's WEBSITE, CONTENT AND/OR USER INFORMATION, INCLUDING WITHOUT LIMITATION THE WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF PROPRIETARY RIGHTS, COURSE OF sponsorshipING OR COURSE OF PERFORMANCE.

Reaprite DISCLAIMS ANY WARRANTIES, EXPRESS OR IMPLIED: REGARDING THE AVAILABILITY, SECURITY, ACCURACY, RELIABILITY, TIMELINESS AND PERFORMANCE OF Reaprite'S WEBSITE, MOBILE APPLICATIONS, CONTENT AND/OR USER INFORMATION;

THAT Reaprite'S WEBSITE WILL BE ERROR-FREE OR THAT ANY ERRORS WILL BE CORRECTED; THAT Reaprite's WEBSITE OR APP WILL BE FREE FROM ELECTRONIC VIRUSES; OR REGARDING THE PERFORMANCE OF OR ACCURACY, QUALITY, CURRENCY, COMPLETENESS OR USEFULNESS OF ANY INFORMATION PROVIDED BY Reaprite ON ITS WEBSITE INCLUDING BUT NOT LIMITED TO INFORMATION OBTAINED THROUGH SOCIAL MEDIA.

No advice or information, whether oral or written, obtained by you from Reaprite's website, shall create any warranty not expressly stated in this Agreement. If you choose to rely on such information, you do so solely at your own risk.

International use

Reaprite is mainly for use in Nigeria. However, user outside Nigeria with a verifiable Nigerian bank accounts are equally eligible for use.

Indemnity

While using our Services, you agree that Reaprite has no obligation to reimburse or indemnify you for any cost, loss or liability which you incur as a result of the failure of a scheme to yield profit to expectations.

You agree to indemnify and hold not accountable Reaprite and all our other agents or subcontractors, against all liabilities, costs, expenses, damages and losses (including any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest penalties and legal and other reasonable professional costs and expenses) suffered or incurred as a result of;

• your fraudulent or illegal use of the Platform, the Services or the App;
• your negligence or any default by you of any terms of this Terms and Condition any inaccurate or incomplete information that you have knowingly provided to us;
• you allowing any other person to access your account either with your permission or as a result of your failure to keep your username and password private;
• any service that you have offered, whether with or without our permission, to another third party using our Platform;any claim made against you for actual or alleged infringement of the Company’s Intellectual Property Rights or any actual or alleged infringement of a third party’s Intellectual Property Rights arising out of or in connection with the Services or your use of the Platform.

Feedback

Your feedback is welcome and encouraged and welcome as this will enable us serve you better. You may submit feedback by emailing us at [email protected]

You agree, however,that

• by submitting unsolicited ideas to Reaprite or any of its employees or representatives, by any medium, including but not limited to email, written, or oral communication, you automatically forfeit your right to any intellectual property rights in such ideas; and .
• such unsolicited ideas automatically become the property of Reaprite. You hereby assign and agree to assign all rights, title, and interest you have in such feedback and ideas to Reaprite together with all intellectual property rights therein.

In addition, you warrant that all moral rights in any feedback have been waived, and you do hereby waive any such moral rights.

Termination

Each of us can end this agreement at any time, subject to the maturity of all plans. We may terminate or suspend your access to Reaprite, at any time with prior notice to you if your account is found to be fraudulent. We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone posting, publishing, or otherwise making available any User information, emails, or other materials that are believed to violate these Terms of Use.

Any suspension, termination, or cancellation shall not affect your obligations to Reaprite under these Terms and Conditions (including but not limited to ownership, indemnification, and limitation of liability), which by their sense and context are intended to survive such suspension, termination, or cancellation.

Review and questions

This terms and condition is subject to review, revise and or update at our sole discretion at any time. We, therefore, advise that you read through this Terms periodically. You further agree that we will have no further obligation to notify you of any modifications and such updates or modifications shall become effective immediately upon the posting thereof or on any specified date.

The most current version of the Terms and Condition can be accessed by clicking the Terms and Condition link on the bottom of the home page for the Platform. This document constitutes Reaprite's complete Terms of Service for Reaprite and related services. If you have questions about these Terms and conditions or about content thereon, please contact us at [email protected]

You can also contact Reaprite via our physical address at:

21, Ahmed Onibudo Street,
Victoria Island, Lagos,
Nigeria.