These Terms and Conditions ("Terms") govern your use of our website, mobile application (together referred to as the "Platform") and the services provided through our Platform. By using our Platform, you agree to be bound by these Terms. If you do not agree with any of these Terms, you should not use the Platform or access any services provided through the Platform in any manner.
These Terms represent an agreement between you and HerVest For Women Limited (“We”, “Our”, “Us”, “HerVest”), a company registered under the Companies and Allied Matters Act, 2020, with its registered office at No. 23 Hughes Avenue, Yaba, Lagos State, Nigeria. They also govern your use and access to our Platform and our products and services (the “Services”).
Please read these Terms carefully before using the Platform as they include important information about your rights and responsibilities, as well as limitations and exclusions that may apply to you. By accessing or using the Platform, You (including, where applicable, the organisation or corporation you represent) will be deemed to have understood and accepted these Terms, which form a binding agreement between You and Us.
We reserve the right, at Our sole discretion, to modify or replace these Terms from time to time by posting the updated terms on the Platform. It is your responsibility to check the Terms periodically for changes. If you object to any such changes, your sole recourse will be to cease using the Platform and the Service. Your continued use of the Service following the posting of any changes to the Terms will indicate your acknowledgement of such changes and agreement to be bound by the terms and conditions of such changes.
We also reserve the right to change, suspend, or discontinue the Service (including, but not limited to, the availability of any feature, database, or content) at any time for any reason. In addition, We may impose limits on certain features of the Platform and the Services or restrict your access to parts of or the entire Platform without notice or liability.
About HerVest
HerVest is an innovative financial technology platform focused on empowering women to engage in and participate in the financial services sector anytime and on the go. Our platform enables users to invest in and trade a pool of investment funds and high-yielding financial products.
At HerVest, we prioritize playing across the value chain of specific financial product types that offer good returns. We also educate our users on modeling informed investment strategies that guide their investments and guarantee excellent profits. We use our users’ funds to make these investments and pay them profits from successful investment tenures.
As an ongoing process, users can track their investments by receiving updates through their customized investment dashboard and emails.
1. Definitions
In these Terms, unless the context clearly indicates otherwise, the following terms have the following meanings:
- “Business Day”
- means a day other than a Saturday, Sunday or national or public holiday in which banks are open for business in Nigeria;
- “Contract”
- means the contract formed between a User and Us in accordance with the terms and conditions set out in these Terms;
- “Device”
- includes your mobile phone handset and/or other equipment which when used together enables you to access the Platform;
- “Force Majeure Event”
- means any strike, lockout or other industrial action, act of God (including severe weather events), act of terrorism, war, act of government or political or civil disturbance which is beyond the reasonable control of the affected party;
- “HerVest Account”
- means your personal account on the Platform;
- “Interest”
- means the agreed returns on an investment plan;
- “Platform”
- means the mobile application and website located at www.hervest.ng, through which Our Services can be accessed;
- “Request”
- means a request or instruction received by HerVest from You or purportedly from You through the Platform or any of our customer support channels and upon which HerVest is authorised to act;
- “Service(s)”
- means all services provided through our Platform, including but not limited to savings and investment services;
- “Taxes”
- means any value-added tax, sales tax, goods and services tax, withholding tax, or other tax, levy, duty, impost, charge or fee imposed on any transaction entered into through or in connection with the Platform that by applicable law in the Federal Republic of Nigeria must be added to any amounts charged for any transaction related to the foregoing and must be collected by us;
- “Terms”
- means these terms and conditions, together with the documents referred here which form a binding agreement between you and HerVest and contain the terms and conditions governing your use of and access to our Platform; and
- “User, You or Your”
- means any individual or entity that accesses or uses our Platform.
2. Account Registration and Eligibility
You may access certain parts of the Platform without the need to create a HerVest Account. You will however, require Your HerVest Account to access most features of the Platform, particularly Our Services.
To use Our Services You must:
provide all information requested by us, such as your name, email address, mobile device number, a picture of You, Your online credentials for your Bank Account, and such other information as we may request from time to time;
accept and agree to Our Terms;
create a HerVest Account;
be a Nigerian or be legally resident in Nigeria;
be at least 18 years of age;
have a bank account with a financial institution in Nigeria; and
have not been previously suspended or removed from Our Platform.
By creating or opening a HerVest Account, You represent and warrant that the information You provide us from time to time is true, accurate, current, and complete. You also agree not to misrepresent your identity or your User information. If you are using our Services on behalf of a company or other legal entity, you represent and warrant that you have the authority to bind such entity to these Terms.
We reserve the right to verify the information You provide during registration and to request additional information or documentation to verify Your identity or eligibility to use Our Services. You agree to provide such information and documentation promptly upon request. Such information and documentation may include:
an original copy of a government issued identity card verifying your identity including but not limited to your age, photo and address;
a copy of a utility bill, bank statement or any other document, dated within three months of our request, with your name and Nigerian street address on it; and
such other information and documentation that we may require from time to time.
If we are unable to verify your information or if we determine, in our sole discretion, that you are not eligible to use our Services, we refuse to create a HerVest Account for you. Where a HerVest Account has already been created, We may suspend or terminate Your HerVest Account and Your access to Our Services.
In addition, if We find out or there is a reasonable cause to believe that the user of the HerVest Account is not the initial registrant of such account, We shall have the right to suspend or terminate the services to such account and deregister it without prior notification to you. You shall be solely responsible for all the losses arising to you and any other individual or organisation from the wipe and loss of all the data and information caused thereby.
You are solely responsible for maintaining the confidentiality and security of Your HerVest Account login credentials, including your username and password. You agree not to share Your login credentials with any third party, and to notify Us immediately of any unauthorized use or suspected breach of Your HerVest Account.
We reserve the right to suspend or terminate Your access to the Platform at any time and for any reason, including if we suspect that you have violated these Terms or any applicable laws or regulations.
3. Using our Services
The purpose of the Services is to assist You in investing Your funds and to generate profits on Your behalf with minimal effort on your part. The Platform therefore enables You to save your money and to invest in opportunities highlighted on the Platform.
The funds in Your HerVest Account are held by a bank for your benefit. We do not own or have any rights to the funds in your HerVest Account, except as necessary to fulfill Our obligations to You under these Terms. You acknowledge and agree that we have no liability or responsibility for the safety, security, or custody of the funds in your HerVest Account, except to the extent caused by our gross negligence or willful misconduct.
Your funds will remain in Your HerVest Account until You choose to invest it or instruct Us to transfer it from Your HerVest Account to Your designated bank account. We will generally transfer the requested funds from Your HerVest Account to Your designated bank account within three (3) Business Days from the time of receipt of your request. Please note, however, that We may take longer to process Your request if we suspect any fraudulent or illegal activity related to Your account or if we are unable to verify Your identity or account information.
You may request to withdraw Your funds at any time on any of the free pay out days chosen by You. Where you choose to withdraw Your funds outside the payout days. You agree to be charged a percentage of the funds withdrawn. Please note that only funds in your HerVest Account may be transferred to your designated bank account.
We may close Your HerVest Account at any time in our sole discretion, without notice to You, if we suspect that You are using the Services for illicit purposes or otherwise in violation of these Terms. Upon closure of Your HerVest Account, We will transfer any remaining funds from Your HerVest Account to Your designated bank account without notice to You.
You are not permitted to use the funds in your HerVest Account to make purchases, withdraw cash, transfer funds to third parties, or for any other purpose asides the participation in the investment opportunities highlighted on Our Platform. 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.
HerVest is not a financial adviser, and the Services are not intended to provide financial advice. We are not responsible for ensuring Your debit card has sufficient funds for Your needs, purposes, or transactions. We also 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 Your financial adviser.
We are authorised to effect such orders in respect of your HerVest Account as may be given by a court of competent jurisdiction or any other competent authority or agency in Nigeria.
4. Fees and Charges
We currently do not charge any transaction fees or monthly fees for the use of Our Services. We, however, reserve the right to introduce fees for the Services in the future. We will notify You before introducing any fees by delivering notice to you via electronic mail, posting a notice on the home page of the Platform, or by any other method permitted under the applicable law. If You continue using the Services after such notice, You will be required to pay all applicable fees for the Services.
Without prejudice to clause 4.1, an early withdrawal of your savings (before Your chosen payout day) may attract a penalty fee. We reserve the right to determine, on a case-by-case basis, whether to levy a penalty. In addition, once you have subscribed to an investment opportunity on the Platform, you will not be permitted to cancel such investment or withdraw your funds until the expiration of its tenure. You may, however, be permitted to sell your investment to other Users.
Regardless of whether a fee is imposed, you agree that you will be required to forfeit any interest fee if you withdraw your funds outside the tenor period.
You agree to make all payments, including any penalty fees, under the Contract without withholding or deduction of any taxes unless required by law. If required by law, You agree to pay any additional amount necessary to ensure that We receive the same total amount that We would have received if no withholding or deduction had been required.
5. User Covenant
By using Our Platform, You covenant and agree that you will:
comply with all applicable laws, regulations, and guidelines related to Your use of Our Platform;
provide accurate and complete information to Us and update such information as needed;
use Our Platform only for lawful purposes and in accordance with these Terms;
not use Our Platform to engage in any illegal, fraudulent, or malicious activities, including but not limited to money laundering, terrorism financing, or hacking;
act reasonably and in good faith;
ensure your Device is in safe and good order for the purpose of accessing the Platform and the Services;
follow all instructions, procedures and terms contained in these Terms and any document provided by HerVest concerning the use of the Platform and the Services;
not at any time operate or use the Services in any manner that may be prejudicial to HerVest;
immediately inform Us where:
You have reason to believe that your HerVest Account details are or may be known to any person not authorised to know the same and/or have been compromised; and/or
You have reason to believe that unauthorised use of the Services has or may have occurred or could occur and a transaction may have been fraudulently initiated or compromised; and
indemnify Us against all liabilities, costs, expenses, damages and losses suffered or incurred by Us as a result of any claim made against Us due to your breach of the Contract.
We reserve the right to investigate and take legal action against any User who violates this clause or any other provision in these Terms, and we may terminate Your access to Our Platform at any time if we determine, in Our sole discretion, that You have violated any provision of these Terms.
6. Third-Party Service Providers
In order for You to conveniently use the Platform, We may utilise the service of third-party service provider(s). Please be aware that HerVest is neither responsible for the services provided by third-party service providers nor are We responsible for the privacy policy or practices of third-party service provider(s).
You understand and agree that we may change the policies for our Services and third-party applications, and such change may have an effect on the third-party services (such that the third-party may be unable to continue to provide services on the Platform, or the service functions of the third-party applications are restricted). We will not assume liability for such changes unless otherwise stipulated in laws and regulations.
Using the Services on the Platform may use some of your data allowance available on the data plan to which you have subscribed with your mobile network operator. International usage may lead to significantly higher costs than regular usage. You understand that in such situations, you are solely responsible for paying for any possible mobile charges (including messages or data) levied by your mobile network operator. If you are uncertain of such fees, please consult your service provider before using the Services.
7. Indemnification and Breach
Where you violate these terms or other agreements and terms that you are required to comply with, We shall have the right to independently judge according to the circumstance and to adopt measures without prior notice to You, including without restricting, suspending, or terminating Your use of part or all of the features of the Services. You shall be solely responsible for any losses incurred thereby.
You shall be solely responsible for any third-party complaint, litigation or claim arising from your breach of these Terms.
You agree that the Platform is not a secure method of transmitting information, and that the risk of any loss of information or interception of information by any third party will be borne by You and that We, as a service provider shall not be liable for same. We shall also not be liable for any damages or injuries arising out of or in connection with the use of the Platform or its non-use including non-availability or failure of performance, loss or corruption of data, loss of or damage to property (including profit and goodwill), work stoppage, or interruption of business, error, omission, interruption, deletion, defect, delay in operation or transmission, communication line failure or for any failure to act upon instructions. You will at all times indemnify HerVest, along with its directors, officers, employees, successors and assigns (“Indemnified Persons”) from and against all actions, proceedings, claims and demands whatsoever for or on account of or in relation to Your use of the Platform and from and against all damages, costs, charges and expenses in respect thereof.
On no account will HerVest or any of the indemnified persons above be liable for any demand, claim, loss, or damage which you may sustain:
from our acting in accordance with your Requests or Requests purported to be from You;
from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event outside of HerVest’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by HerVest;
from any unauthorised access to your Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Device; or
from any loss or damage occasioned by the failure or unavailability of third-party facilities or systems or the inability of a third party to process a transaction.
8. Limitation of Liability
HerVest shall not be responsible for any loss suffered by You should the Services be interfered with or be unavailable by reason of the failure of your Device used in accessing the Services, or any other circumstances whatsoever not within HerVest’s control including, without limitation, a Force Majeure Event or error, interruption, delay or non-availability of the mobile network, terrorist or any enemy action, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
Your sole remedy for dissatisfaction with your use of the Platform is to stop using it. You agree that under no circumstances will HerVest be liable for any damages, whether direct, indirect, incidental, consequential, special, punitive or exemplary damages (collectively, the "Excluded Damages"), arising out of or in any way connected with your use of or inability to use the Platform, including but not limited to: loss of anticipated profits, business, savings, goodwill or data; any failure of performance, denial of service, attack, interruption, defect, operator errors, inconvenience or delay in operation or transmission; failure of electronic or mechanical equipment or communications lines (including telephone and the internet); severe or extraordinary weather (including flood, earthquake, or other act of God); fire, war, insurrection, terrorist act, riot, labour dispute and other labour problems, accident, emergency or action of government; or any third party theft of, destruction of, unauthorized access to, alteration or use of your information, equipment or property.
HerVest will not be liable for any losses or damage suffered by you as a result of or in connection with any loss or damage which may be incurred by you as a result of the following:
any modification or amendment to the Services or temporary cessation in the provision of the Services (or any functions of the Services) according to these Terms;
Your failure to provide us with accurate information;
your failure to keep your pin or HerVest Account details safe and confidential;
any defect or fault in the Platform or any Service resulting from you having altered or modified the Platform;
unavailability of sufficient funds in your Account;
failure, malfunction, interruption or unavailability of the mobile network, Your Device, System, or an electronic payment system; the money in your Account being subject to investigations, lien, legal process, or other encumbrance restricting payments or transfers thereof;
Your failure to give proper or complete instructions for payments or transfers relating to your HerVest Account; or
any fraudulent or illegal use of the Services, or your Device.
9. Ethical Contracting & Anti-Money Laundering
In conducting our business, We act with the highest ethical standards and comply with all applicable laws and regulations. Where we discover that Our Platform is being used to launder money or for any suspicious transactions, We have an obligation to report such activities to the relevant authorities.
You agree to comply to all applicable anti-money laundering laws and promptly report to HerVest any suspected or actual violation of this clause or any other provision of these Terms.
10. Force Majeure
Our failure to perform any of Our respective obligations under these terms (or a delay in such performance) due to a Force Majeure Event, will not constitute a breach of these Terms. Where a Force Majeure Event occurs, we will:
promptly give you notice of the Force Majeure Event and an estimate of the non-performance and delay;
take all reasonable steps to overcome the effects of the Force Majeure Event; and
resume performance as soon as practicable after the Force Majeure Event no longer affects us.
11. Intellectual Property
HerVest is the owner or licensee of all intellectual property rights in the Platform, including but not limited to trademarks, copyrights, patents, trade secrets, and other proprietary information.
You acknowledge that the Platform and all material published on the Platform including but not limited to text, graphics, photos, logos, button icons, images, trademarks, audio and audio-visual clips, databases, data compilations, data and software (together “HerVest Content”) are owned and controlled by us. You may not copy, adapt, display, communicate to the public or otherwise use any HerVest Content except as enabled and permitted by Us from time to time.
You agree that you shall not directly or indirectly:
decipher, recompile, disassemble, reverse engineer, or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Platform;
modify, translate, or otherwise create derivative works of any part of the Platform;
copy, rent, lease, distribute, or otherwise transfer any of the rights that you receive hereunder.
You acknowledge and agree that any feedback, suggestions, or ideas provided by you to HerVest regarding the Platform may be used by HerVest in any manner without any obligation to you.
The provisions of this clause shall survive termination or expiration of the Contract.
If you believe that any materials on the Platform infringe your Intellectual Property, you may request that such materials be removed. This request must bear a signature (or electronic equivalent) of the Intellectual Property right holder or an authorized representative or attorney, and must:
identify the allegedly infringing materials;
indicate where on the Platform the infringing materials are located;
provide your contact information, including your name, address, telephone number, and email address;
state that you have a good faith belief that the materials are infringing;
undertake that the information in your claim is accurate; and
indicate (with documentary evidence thereof) that you are the lawful Intellectual Property owner or are authorized to act on the owner’s behalf. If you believe that someone has wrongly filed a notice of Intellectual Property infringement against you, you may send us a counter-notice in accordance with equivalent requirements.
12. The Platform
We strive to ensure that the information and content provided on our Platform is accurate, complete, and up-to-date to the best of our ability. However, we do not guarantee that all information and content provided on our Platform is error-free, complete, or accurate. You acknowledge that any reliance on any information or content provided on our Platform is solely at your own risk.
We also strive to ensure that the Platform is free from viruses, malware, or any harmful content, but we do not warrant that the Platform or any content downloaded from it will be free from such harmful elements. It is your responsibility to ensure that your computer or device is adequately protected with appropriate and up-to-date virus-checking software before accessing or downloading any content from the Platform.
We will not be liable for any loss or damage caused by a virus or other technologically harmful material that may infect your Device, computer programs, data or other proprietary material due to your use of the Platform or your downloading of any content from it.
13. Termination or Suspension Rights
HerVest may at any time, upon notice to you, terminate or vary its business relationship with You and close your HerVest Account. Without prejudice to HerVest’s rights under this clause, We may at Our sole discretion suspend or close Your HerVest Account where:
You use the HerVest Account for unauthorised purposes or where HerVest detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
HerVest is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
HerVest reasonably suspects or believes that you are in breach of these Terms which you fail to remedy (if remediable) within 2 Business Days after the service of notice by email, SMS or other electronic means requiring you to do so;
such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; to facilitate update or upgrade the contents or functionality of the Services from time to time; or where your HerVest Account becomes inactive or dormant;
HerVest decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.
Any suspension, termination, or cancellation of the Platform shall not affect your obligations to Us under these Terms (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.
You have a right to withdraw from the Services at any time after giving HerVest a 3-days written notice of your intention to withdraw and delete your Account.
14. Assignment
You may not assign any of Your rights or delegate your obligations under these Terms without Our prior written consent.
For the purpose of operating the Services, we may assign these Terms in their entirety (including other terms you shall comply with in connection with the Services), to an affiliate. Where there is a merger, acquisition, corporate reorganization, or sale of all or substantially all of our assets, we may assign these Terms (including other terms you shall comply with in connection with the Services) to a third party. You acknowledge that We are not required to obtain your consent under the foregoing circumstances, however We will notify you in a reasonable manner.
15. Disclaimer of Warranties
You acknowledge and agree that the Platform is provided on an "as is" and "as available" basis. None of the respective officers, directors, employees or agents of HerVest guarantee the accuracy, reliability, completeness, or usefulness of any information on the Platform. We do not warrant that the Platform will meet your needs or expectations, or be uninterrupted, secure or error free. We have no responsibility for any damage that may be caused to you as a result of using the Platform.
16. Governing Law and Dispute Resolution
These Terms are made under and will be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without giving effect to any principles that provide for the application of the law of another jurisdiction.
Any disputes relating to these Terms of Use shall be subject to the exclusive jurisdiction of the courts of Nigeria. Where any dispute, claim or controversy arises between the Parties (hereinafter referred to as the "Dispute"), concerning these Terms of Use, the Parties shall attempt to amicably resolve the Dispute by negotiation. For the avoidance of doubt, this will entail that one Party invites the other Party in writing to meet, to resolve the Dispute within thirty (30) days from the date of the written invitation. If the Dispute cannot be resolved by negotiation in the manner above, the Parties shall submit the Dispute to the Lagos Chamber of Commerce International Arbitration Centre (LACIAC) (which rules are deemed to be incorporated by reference into this clause). The dispute shall be resolved by a sole arbitrator, except as otherwise agreed by the Parties. The Award/Decision of the arbitrator shall be final and binding on the Parties. The arbitration shall be held in Lagos, Nigeria, and shall be conducted in English.
17. Miscellaneous
If any provision or part of a provision of these Terms is held to be illegal, invalid, unenforceable or against public policy pursuant to a final adjudication by a court of competent jurisdiction, such provision will be deemed severed from these Terms and the remainder of these Terms will remain in full force and effect.
These Terms, and the documents referred to in them, constitute the entire agreement between You and Us in relation to the subject matter of these Terms and supersede and extinguish any prior agreement in respect of the same.
Our failure to exercise or enforce our rights or the giving of any forbearance, delay or indulgence, will not be construed as a waiver of such rights under these Terms of Use or otherwise.
We reserve the right to vary the provisions of these Terms from time to time and shall publish the amended Terms on our Platform. The revised Terms shall only come into effect from the date of publication on the Platform. All updates and improvements to these Terms are binding.
Our head office is located at 13, Ibikunle Street, Herbert Macaulay, Yaba and our contact email is [email protected]. Except we notify you to the contrary, you will use the Platform and our contact email address for any communication with us.