Terms of Service

1. Agreement to Terms

2. What We Stand For & Platform Description

NairaPacket is an Economic Ownership Platform that enables users to:

• Purchase fractional ownership in verified Nigerian properties ("Packets")
• Receive rental income proportional to their ownership percentage
• Buy and sell property packets on our marketplace
• Use property packets as collateral for loans
• Transfer packet ownership to other users
• Access property documentation and performance data
• Build towards 100% ownership and receive full property papers in their name

3. Eligibility Requirements

4. Account Registration & Security

4.1 Account Creation

You agree to provide accurate, current, and complete information during registration and to update such information to maintain its accuracy.

4.2 Account Security

• You are responsible for maintaining the confidentiality of your account credentials
• You must notify us immediately of any unauthorized use of your account
• You are liable for all activities that occur under your account
• We may suspend or terminate accounts that we reasonably believe have been compromised

4.3 Identity Verification

We may require additional verification documents to comply with regulatory requirements. Failure to provide required verification may result in account limitations or suspension.

5. Property Ownership & Packets

5.1 Nature of Ownership

• Packets represent fractional ownership interests in real properties
• Your ownership percentage determines your share of rental income and property appreciation
• Ownership rights are subject to property management decisions and applicable laws
• Full property papers are available when you own 100% of packets for a property

5.2 Property Verification

While we conduct due diligence on all properties, you acknowledge that property ownership involves inherent risks and we do not guarantee property performance.

5.3 Transferability

Packets may be transferred to other verified NairaPacket users subject to platform rules and applicable transfer fees.

6. Financial Terms

6.1 Payments

• All payments are processed in Nigerian Naira (₦)
• Payment processing fees may apply as disclosed during transaction
• Payments are non-refundable except as required by law or our refund policy

6.2 Rental Income

• Rental income is distributed monthly based on actual property performance
• Income distribution may be delayed due to tenant issues or property management needs
• Applicable taxes are your responsibility

6.3 Fees

We may charge fees for various services as disclosed in our fee schedule, including but not limited to:

• Transaction fees for buying/selling packets
• Property management fees
• Transfer fees
• Loan processing fees

7. Platform Usage Rules

7.1 Permitted Use

You may use our platform only for lawful purposes and in accordance with these Terms.

7.2 Prohibited Activities

You agree not to:

• Use the platform for any fraudulent or illegal activities
• Attempt to manipulate property prices or market information
• Access accounts that do not belong to you
• Interfere with platform security or functionality
• Violate any applicable laws or regulations
• Create multiple accounts to circumvent platform limitations

8. Risks & Disclaimers

9. Limitation of Liability

To the maximum extent permitted by Nigerian law:

• NairaPacket's liability is limited to the amount of fees paid by you in the 12 months preceding the claim
• We are not liable for indirect, incidental, special, or consequential damages
• We do not warrant that the platform will be uninterrupted or error-free
• Property performance depends on market conditions beyond our control

10. Intellectual Property

All content, trademarks, and intellectual property on the NairaPacket platform are owned by NairaPacket or our licensors. You may not use, copy, or distribute this content without express written permission.

11. Privacy & Data Protection

Your privacy is important to us. Our Privacy Policy explains how we collect, use, and protect your personal information. By using our platform, you consent to our privacy practices.

12. Termination

12.1 Your Right to Terminate

You may terminate your account at any time by contacting customer support. Upon termination, you retain ownership of your packets but lose access to platform services.

12.2 Our Right to Terminate

We may suspend or terminate your account if you:

• Violate these Terms of Service
• Engage in fraudulent activities
• Fail to comply with regulatory requirements
• Pose a risk to platform security or other users

13. Governing Law & Dispute Resolution

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes will be resolved through:

1. Good faith negotiations between the parties
2. Mediation if negotiations fail
3. Arbitration in Ibadan, Nigeria under Nigerian Arbitration and Conciliation Act

14. Changes to Terms

We may update these Terms from time to time. We will notify users of material changes via email or platform notification. Continued use of the platform after changes constitutes acceptance of the updated Terms.

15. Contact Information