These Terms of Use (these “Terms”) represent an agreement between you and Herconomy Limited. (“Herconomy”) and contain the terms and conditions governing your use of and access to our website at https://www.herconomy.com, mobile application, and all affiliated websites, owned and operated by us (collectively, the “Website and App”) and our products, services, and applications (together with the Website, the “Services”). “You” and “your” mean the person who uses or accesses the Services. “We,” “us,” and “our” mean Herconomy and its successors, affiliates, and assignees. As used in these Terms, “Herconomy Account” means the account you have with us for the Services.

Your use of and access to the Services are subject at all times to these Terms and our Privacy Policy. Please read these Terms and our Privacy Policy carefully. By using or accessing the Services, you represent that you have read and understood these Terms and our Privacy Policy, and you agree to be bound by these Terms and our Privacy Policy. If you do not agree to all the terms and conditions of these Terms and our Privacy Policy, do not use or access the Services. These terms may be amended from time to time without your prior notice or consent, the amended terms will be available on our platform.

About Us

Herconomy Limited (“Herconomy” “we” or “us”)is a pan African digital community built to inspire, connect and build the capacity of female young entrepreneurs and professionals with the aim of enabling the success of women in all spheres of life providing them with the necessary opportunities to thrive and make valuable contributions to their communities in Africa. 

Scope of the Terms of Use

These Terms of Use specify the opening and use of your relevant Account and the Herconomy Platform. Together with Herconomy Privacy and Data Protection Policy as well as the Anti Money Laundering Policy, constitute the legal relationship between you (herein referred as “you”) and Herconomy. 

Herconomy Savings Services

The savings module is a new module that will enable you to save daily, weekly, monthly, or in perpetuity with Herconomy. You can now save to meet your financial goals and personal targets while you earn high-interest.

All funds saved with Herconomy are invested with partner financial institutions that are duly regulated by the Central Bank of Nigeria and the Securities and Exchange Commission.

Precondition for Access

As pre-conditions to benefit from the Herconomy Services, you shall enter into an agreement with us, pass all relevant compliance procedures that Herconomy follows based on applicable laws on prevention of money laundering and terrorist financing, including and not limited to filling out Herconomy application form and submitting it along with the required documents, and accept our Privacy and Data Protection Policy. You shall read and accept the Terms of Use.

You will be required to accept the Privacy and Data Protection Policy, Anti Money Laundering Policy and the Terms of Use in your first login on the Herconomy Online Platform.

By accepting the Terms of Use, you hereby reiterate the representations that all information you have provided to us is accurate and truthful. You must ensure that the information provided to Herconomy is always accurate and up to date and inform us about any changes in the information and/or documents provided. We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence.

In order to access certain features of our Services, 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. We have physical, electronic and procedural safeguards that comply with regulatory standards to guard Users’ and Clients’ non-public personal information. 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 Us 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.

Applicability

These terms are applicable when you choose to sign up on the Herconomy website/application and your application is successfully processed.

Eligibility

In order to use the Services, you must:

(a) Accept and agree to these Terms of Use, Anti Money Laundering Policy and our Privacy Policy;

(b) Register with us on the Website/App;

(c) Be a Nigerian citizen (or a legal Nigerian resident) of Non-Nigerian Citizen of at least 18 years of age (or older if you reside in a state where the majority age is older);

(d) Have a Bank Account with a Nigerian financial institution; and

(e) Provide all information requested by us, such as your name, email address, mobile device

number, online credentials for your Bank Account, and such other information as we may

request from time to time (collectively, “User Information”).

Compliance

For our compliance purposes and in order to provide the Services to you, 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. When you register for the

Services and from time to time thereafter, we may require you to provide and/or confirm

information and documentation that will allow us to identify you.

For purposes of such authorization, you hereby grant Herconomy and our third-party service providers a limited power of attorney, and you hereby appoint Herconomy and our third-party service providers as your true and lawful attorneys for you and in your name, place, and stead, in any and all capacities, to access third-party websites, servers, and documents; retrieve information; and use your User Information, all as described above.

Notifications and Service Communication

By creating a User Account, you automatically sign up for various types of alerts via e-mail and mobile notification. We 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 User. 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.

Confidentiality

All information and documents obtained by Herconomy or its employees, consultants or agents which are not published or otherwise publicly available shall be kept confidential and not disclosed to third parties or the public. This restriction shall not apply to any information disclosed to legal advisers, or to a third party to the extent that this is required, by any court of competent jurisdiction, or by a governmental or regulatory authority in Nigeria. This provision shall survive the termination of these Terms or the Services.

Nature of Service

Herconomy is not a financial adviser, and the Services are not intended to provide financial advice. Your financial situation is unique. We are not responsible for ensuring your debit card has sufficient funds for your needs, purposes, or transactions. We do not make any representations, warranties, or guarantees of any kind that the Services are appropriate for you. Before using the Services, you should consider obtaining additional information and advice from a financial adviser.

Fees and Expenses

Withdrawing all or part of your savings is completely FREE of charge, however, you agree that you will be charged a 2.5% penalty fee if you withdraw your Fixed Wallet plan outside any of the FREE withdrawal dates published on Herconomy’s website/app. Herconomy reserves the right to change fees for the Services in the future. We will notify you before charging a fee for the Services by delivering notice to you electronically, by posting such fee on the Website, or by any other method permitted by applicable law. If you continue using the Services after such notice, you must pay all applicable fees for the Services. You hereby acknowledge that may incur certain other charges imposed by third-party financial institutions. These additional costs may include, and are not limited to bank transfer fees, transfer taxes etc. You understand that these fees are not included in the fee that you pay to Herconomy.

Anti-Money Laundering

You represent and warrant the following and shall promptly notify Herconomy if any of the following ceases to be true and accurate:

• To the best of your knowledge based on appropriate diligence and investigation, none of the cash or assets that will be the subject of any transaction involving Herconomy has been or shall be derived from or related to any activity that is deemed to be in contravention of The Money Laundering (Prohibition) Act 2011 or other applicable Money Laundering/Terrorist Financing Laws. (“AML Laws”);

• No contribution or payment by you to Herconomy shall cause Herconomy to be in violation of the AML Laws

Where we discover that the representations above are untrue or inaccurate or that our platform is used to launder money or for any suspicious transactions, we have an obligation to report your activities to the relevant authorities without recourse to you.

Warranty Disclaimer

To the fullest extent permitted by applicable law and except as otherwise expressly provided in these terms, you expressly understand and agree that your use of the Services and all information, products, and other content (including that of third parties) included in or accessible from the Services is at your sole risk. The services are provided on an “as is” and “as available” basis without any warranty of any kind. To the maximum extent permitted by applicable law, we and our third-party service providers expressly disclaim any and all conditions, representations, and warranties of any kind as to the services and all information, products, and other content (including that of third parties) included in or accessible from the services, whether express, implied, statutory, or otherwise, including, but not limited to, any implied warranty of merchantability, fitness for a particular purpose, and non-infringement.

Without limiting the foregoing, we and our third-party service providers make no warranty that:
(a) the Services will meet your requirements;
(b) the Services will be uninterrupted, timely, secure, or error-free;
(c) the results that may be obtained from the use of the Services will be accurate or reliable;
(d) the quality of any products, services, information, or other material purchased or obtained by you through the Services will meet your expectations; or
(e) any errors in the Services will be corrected. No oral or written information or advice obtained by you from us or our third-party service providers through or from the services will create any warranty not expressly stated in these terms.

Any material downloaded or otherwise obtained through the services is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material.

Limitation of Liability

To the fullest extent permitted by applicable law, you agree that Herconomy, its affiliates, and its and their respective employees, officers, directors, agents, and third-party service providers will not be liable to you or any third party for:
(a) the performance of the Services or the inability to use the services;
(b) any indirect, incidental, special, consequential, punitive, or exemplary damages, whether based in contract, tort, or otherwise, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses, even if such persons have been advised of the possibility of such damages, which arise out of or are in any way connected with these terms or the services;
(c) any amount, in the aggregate, in excess of the greater of 5 Million Naira or the amount transferred from your debit card to your  Herconomy account via the Services;
(d) any event beyond its reasonable control.

Indemnity

You hereby undertake to defend, indemnify and hold harmless Herconomy their directors, officers, employees, agents, successors or assigns from and against any and all claims, losses, damages, liabilities, costs and expenses (including but not limited to reasonable legal fees) while acting in accordance with these terms and that are not a direct result of a breach of the terms herein state, bad faith, negligence, and material violation of applicable laws.

Warranties and Representations

• You warrant and represent that you have full power and authority to enter into these terms;
• That the terms hereof do not violate any obligation by which you are bound, whether arising by contract or operation of law, or otherwise;
• That the assets in the User Accounts are free from all liens and charges; and
• That you shall promptly notify Herconomy if any of your representations or warranties in these terms of service are no longer true or completely accurate.

Termination

Either of us can end this agreement at any time, subject to all relevant requirements being fulfilled. We may terminate or suspend your access to Herconomy, 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 Herconomy under these Terms of Use (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.

User Obligations:

• Comply with all applicable laws, including, without limitation, privacy laws, intellectual property laws, anti-spam laws, export control laws, tax laws, and regulatory requirements;

• Provide accurate information to us, whether reported directly or through a third party who you authorize, and keep it updated;

• Use the services solely for your personal, non-commercial use;

• Use your real name on your profile and keep your password confidential;

• Use the Services in a professional manner.

User Restrictions

As a User, you undertake not to;

• Circumvent, disable, or otherwise interfere with security-related features of Herconomy or features that prevent or restrict use or copying of any content or User information

Upload, email, transmit, provide, or otherwise make available:

• any User information which you do not have the lawful right to use, copy, transmit, display, or make available (including any User information that would violate any confidentiality or fiduciary obligations that you might have with respect to the User information); or

• any User information that infringes the intellectual property rights of, or violates the privacy rights of, any third-party (including without limitation copyright, trademark, patent, trade secret, or other intellectual property right, moral right, or right of publicity); or

• unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of solicitation; or

• any personal information that is unlawful, obscene, harmful, threatening, harassing, defamatory, or hateful, or that contain objects or symbols of hate, invade the privacy of any third-party, contain nudity, are deceptive, threatening, abusive, inciting of unlawful action, or are otherwise objectionable in the sole discretion of Herconomy; or

• any personal information that contains software viruses or any other computer code, files, or programs designed to (i) interrupt, destroy, or limit the functionality of any computer software; or (ii) interfere with the access of any user, host or network, including without limitation overloading, flooding, spamming, mail-bombing, or sending a virus to Herconomy; or

• any personal information that includes code that is hidden or otherwise surreptitiously contained within the User information;

• Use any tags, hidden text or metadata utilizing a Herconomy name, trademark, URL or product name;

• In any way use Herconomy’s logo to send altered, deceptive, or false source- identifying information;

• Interfere with or disrupt (or attempt to interfere with or disrupt) any Herconomy web page, server, or network, or the technical delivery systems of Herconomy’s providers, or disobey any requirements, procedures, policies, or regulations of networks connected to Herconomy.

• Attempt to probe, scan, or test the vulnerability of any Herconomy system or network or breach or impair or circumvent any security or authentication measures protecting Herconomy;

• Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software used by Herconomy;

• Attempt to access, search Herconomy or content thereon with any engine, software, tool, agent, device, or mechanism other than software and/or search agents provided by Herconomy or other generally available third- party web browsers, including without limitation any software that sends queries to Herconomy to determine how a website or web page ranks;

• Violate the terms of use or any other rule or agreement applicable to you or Herconomy’s inclusion in, reference to, or relationship with any third party or third-party site or service, or your use of any such third-party site or service; Collect or store personal information about other users without their express permission;

• Impersonate or misrepresent your affiliation with any person or entity, through pretexting or some other form of social engineering, or commit fraud;

• Solicit any User for any investment or other commercial or promotional transaction;

• Violate any applicable law or regulation;

• Scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work);

• Use, launch, or permit to be used any automated system, including without limitation “robots,” “crawlers,” or “spiders”; or

• Copy or use the information, content or data on Herconomy in connection with a competitive service (as determined by Herconomy);

• Monitor Herconomy’s availability, performance or functionality for any competitive purposes

• Use Herconomy’s website/app or content thereon in any manner not permitted by these Terms of Use

• Copyrighted Materials: If you become aware of misuse of any of Herconomy’s content by any person, please contact Herconomy to report any abuse. Herconomy has adopted and implemented a policy that provides for the termination of Accounts of users who infringe the rights of copyright holders. 

Severability

If any provision of this Agreement is found to be illegal, unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect.

Waiver

The failure of a party to enforce any right or provision of these Terms of Use will not be deemed a waiver of such right or provision. 

Assignment

You may not assign any part of these Terms of Use (by operation of law or otherwise) without the prior written consent of Herconomy, and any prohibited assignment will be null and void.

Herconomy may however assign this Terms of Use or any rights hereunder without your consent.

Status of Parties

The relationship of the parties under these Terms of Use is that of independent contractors, and these Terms of Use will not be construed to imply that either party is the agent, employee, or joint venture of the other. 

Entire Agreement

These Terms of Use, together with the Herconomy’s Privacy Policy form the complete and exclusive agreement between you and Herconomy with respect to your use of our website and mobile app, and other subject matters contemplated by this Agreement, superseding and replacing any and all prior or contemporaneous agreements, communications, and understandings, both oral and written, regarding that subject matter.

Governing Law and Dispute Resolution

These Terms of Use shall be governed, construed, and enforced pursuant to the laws of the Federal Republic of Nigeria.

Any disagreement, dispute or difference howsoever arising, from these Terms, including its interpretation and validity or as to the rights, duties and liabilities of the Parties hereto or as to any other matter in any way connected with or arising out of or in relation to the subject matter of this Terms of Use, which cannot be amicably resolved by the Parties within 30 (thirty) days shall be referred to arbitration in accordance with and subject to the provisions of the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria 2004.

Communication

Any notice or communication will be in writing by email

You hereby authorize Herconomy to deliver notices required under this Term of Use by 

(a) Herconomy via email (in each case to the address that you provide), or 

(b) you via email to info@herconomy.com or to such other addresses as Herconomy may specify in writing. The date of receipt shall be deemed the date on which such notice is transmitted.

You agree to notify Herconomy if you have any reason to believe your email address or account may have been compromised by any third party.

Updates, Modifications & Amendments

We may add to or terminate any of the Services or amend these Terms at any time, in our sole discretion, without providing notice to you, subject to applicable law. We reserve the right, subject to applicable law, to deliver to you any notice of changes to existing terms or the addition of new terms by posting an updated version of these Terms on the Website or delivering notice thereof to you electronically. You are free to decide whether or not to accept a revised version of these Terms, but accepting these Terms, as revised, is required for you to continue accessing or using the Services. If you do not agree to these Terms or any revised version of these Terms, your sole recourse is to terminate your access or use of the Services. Except as otherwise expressly stated by us, your access and use of the Services are subject to and constitute your acceptance of, the version of these Terms in effect at the time of your access or use.

By accepting these terms, you further agree and acknowledge that these Terms of Use and the rules, restrictions, and policies contained herein, and Herconomy’s enforcement thereof, are not intended to confer and do not confer any rights or remedies on any person other than you and Herconomy