Terms Of Use

These terms and conditions of use and service (“Terms”) contained herein on this webpage is a legal agreement between you (“you”, “User”) and Stacs Limited (“Stacs” “we”, “our” or “us”). These Terms shall govern your access to and use of our Service which include the use of our platforms, web https://stacs.co and mobile app (“Platform”). Note that these Terms apply to you whether you are only visiting the website or have registered to be a user of the Services.

These Terms apply in full force and effect to your use of the Service and by using any of the Service, you expressly accept all terms and conditions contained herein in full and without limitation or qualification. We oblige you therefore to thoroughly read these Terms carefully before agreeing to be bound by them. You must not use any of the Service if you have any objection to any of these Terms.

By signing on to use our Services, you are warranting that you are not a person barred from receiving Services under the laws of the applicable jurisdiction. You also undertake and agree to provide us with information that is accurate, and not misrepresent your identity or your user information. You are only entitled to access and use the Services for lawful purposes.

Our Services are directed to people from the ages of 18 and above. You are only permitted to use the Services if you are aged 18 or older. We do not knowingly engage people younger than the age of 18. If as a parent or guardian, you become aware that your child or ward child has provided us with any information without your consent, please contact us through the details provided in these Terms.

We shall establish adequate controls in order to protect the integrity and confidentiality of your Personal Information, both in digital and physical format and to prevent your Personal Information from being accidentally or deliberately compromised.

We are committed to managing your Personal Information in line with global industry best practices. We protect your Personal Information using physical, technical, and administrative security measures to reduce the risks of loss, misuse, unauthorized access, disclosure and alteration, we also use industry recommended security protocols to safeguard your Personal Information. Other security safeguards include but are not limited to data encryption, firewalls, and physical access controls to our building and files and only granting access to your Personal Information to only employees who require it to fulfill their job responsibilities. No Personal Information processing will be undertaken by an employee who has not been authorized to carry such out as part of their legitimate duties.

In order to use the Platform and avail our Service, you will have to register on the Platform and create an account with a unique user identity and password (“Account”). If you are using the Platform on a compatible mobile or tablet, you will have to install the application and then proceed with registration.

You also agree to maintain the security of your details and account and promptly notify us if you discover or suspect that someone has accessed your account without your authorization. Your username and password are personal to you and may not be shared with any third parties. You are responsible for all activities that occur regarding your details or otherwise under your account.

You acknowledge and agree that your geo-location information is required for you to avail of our Service on the Platform. You acknowledge and hereby consent to the monitoring and tracking of your geolocation information. In addition, we may share your geo-location information on our internal software with our operations team to ensure a smooth experience.

Unless otherwise stated, we own the intellectual property rights and materials on our Platforms. All text, formatting (including without limitation the arrangement of materials on our website and app and the graphics, animation, tools, commercials, music, video, articles, sound, copy, trade names, logos, and other materials and information on the website and app are subject to our intellectual property rights. We do not grant you any right, license, title, or interest to any of our intellectual property rights that you may or may not have access to.

This content may not be copied, reverse engineered, decompiled, disassembled, modified or reposted to other Platforms. Nothing on our Platform should be construed as granting by implication or otherwise, any license or right to use any trademark displayed on our website or Platforms without our written permission or that of such third party that may own the trademark. You agree to take such actions including executing all documents that may be needed to further affirm our intellectual property rights.

WE TRY TO KEEP OUR WEBSITE AND SERVICES AVAILABLE AT ALL TIMES, BUG-FREE AND SAFE, HOWEVER, YOU USE IT AT YOUR OWN RISK. WE PROVIDE THE WEBSITE AND THE CONTENT “AS IS” WITH NO WARRANTY, EXPRESS OR IMPLIED, OF ANY KIND (INCLUDING ANY IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AVAILABILITY, SECURITY, TITLE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS). WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, WE MAKE NO WARRANTY THAT OUR WEBSITE, PLATFORM, MOBILE APP, PRODUCTS AND SERVICES WILL MEET YOUR REQUIREMENTS OR THAT OUR WEBSITE OR MOBILE APP WILL BE 100% FRAUD OR FAIL PROOF, REMAIN FREE FROM ANY INTERRUPTION, BUGS, INNACCURACIES, AND ERROR FREE. YOUR USE OF OUR SERVICES ARE AT YOUR OWN RISK AND YOU ALONE WILL BE RESPONSIBLE FOR ANY DAMAGE THAT RESULTS IN THE LOSS OF DATA OR DAMAGE TO YOUR COMPUTER SYSTEM. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN OBTAINED BY YOU FROM OUR WEBSITE, PLATFORM OR OUR SERVICES WILL CREATE ANY WARRANTY OR CONDITION NOT EXPRESSLY STATED. WE WARRANT THAT WE SHALL USE OUR BEST ENDEAVOURS TO ENSURE THAT THE SERVICE OPERATES OPTIMALLY AT ALL TIMES IN ACCORDANCE WITH BEST INDUSTRY STANDARD.

UNDER NO CIRCUMSTANCE SHALL WE BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL PUNITIVE, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES, INCLUDING DAMAGES RESULTING FROM REVENUE LOSS, PROFIT LOSS, USE, DATA, GOODWILL, BUSINESS INTERRUPTION OR ANY OTHER INTANGIBLE LOSSES (WHETHER OR NOT WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH) ARISING OUT OF OUR PLATFORM OR SERVICE (INCLUDING, WITHOUT LIMITATION TO INABILITY TO USE, OR ARISING FROM THE RESULT OF USE OF OUR PLATFORM OR SERVICE) WHETHER SUCH DAMAGES ARE BASED ON WARRANTY, TORT, CONTRACT, STATUTE OR ANY OTHER LEGAL THEORY.  SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR LIMITATIONS ON THE SCOPE AND DURATION OF SUCH WARRANTIES, SO THE ABOVE DISCLAIMERS MAY NOT APPLY TO YOU IN THEIR ENTIRETY BUT SHALL APPLY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW.

You agree to release, indemnify and hold harmless Us, Our affiliates, and Our and their respective officers, directors, employees and agents from and against any claims, liabilities, damages, losses and expenses, including without limitation reasonable legal and accounting fees, arising out of or in any way related to:

Under no circumstances shall we be held liable for any delay or failure or disruption of the Service delivered through our Platforms resulting directly or indirectly from acts of nature, forces or causes beyond our reasonable control, including without limitation, Internet failures, computer, telecommunications or any other equipment failures, electrical power failures, strikes, labor disputes, riots, insurrections, civil disturbances, shortages of labor or materials, fires, flood, storms, explosions, acts of God, war, governmental actions, orders of domestic or foreign courts or tribunals or non-performance of third parties.

Without prejudice to other rights accruable to us under these Terms, any breach of these Terms will warrant our institution of such measures that we deem appropriate to deal with the breach, which may include but shall not be limited to suspending or prohibiting your access to and/or use of our Platforms, blocking computers using your IP address from accessing our Platforms, contacting your internet Service provider to request that they block your access to our Platforms and/or bringing court proceedings against you.

Our Services are directed to people between the ages of 18 and above. If as a parent or guardian, you become aware that your child or ward has provided us with any information without your consent, please contact us via email at reachus@stacs.co

We reserve the sole right to update, modify, change or revise these Terms from time to time. The changes will not be retroactive, and the most current version of the Terms will always be on this page and will continue to govern our relationship with you. We advise that you check this page often, referring to the date of the last modification on the page. We will also try to notify you of any material changes which could be done via the email associated with your Account or Service notification. By continuing to use our Service after the changes become effective, you agree to be bound by the revised Terms.

You agree to build your credit eligibility to enable your use of any of our credit products available to you and We agree to disburse the proceeds under this Agreement to the merchant listed on our Platform. You agree to repay us the amounts disclosed in your repayment notice provided to you electronically as part of this Agreement.

You agree that, where applicable, the product purchased (the “Asset”) shall belong to Stacs until you have successfully completed the amounts in your repayment notice and Stacs shall have the right to reclaim the Asset at any time prior to this.

You also agree to pay any interest charges under this Agreement should such charges become applicable.

You agree that Stacs is only responsible for financing the Asset, and shall not be responsible for the delivery or quality of the Asset. All arrangements for delivery, pick up or collection, shall be between you and the merchant. In the event that the Asset is lost, stolen, or damaged in the course of delivery or prior to your receipt of the same, you will still be liable to make all installment payments in full on their due dates until you have successfully completed the amounts in your Final Payment Schedule.

You agree to our providing materials and other information about your legal rights and duties to you electronically. You agree to our sharing, receiving, and, using data/information collected from your transaction with other affiliated third parties. You consent to our transferring your data to third parties for the purpose of processing such data. You hereby expressly consent and authorize Stacs to debit you or authorize us or any of our duly authorized agents or partner to debit your saving account or any other bank account linked to your Bank Verification Number (BVN), for the purpose of repaying the Loan with applicable interest as and when due. Stacs or its duly authorized representatives/agents will utilize dedicated credit agencies for a credit report on you from time to time. You authorize Stacs to access any information available to it as provided by the credit agency.

You also agree that your details (excluding the card details) and the loan application decision may be registered with the credit agency. Your electronic signature on agreements and documents has the same effect as if you signed them using ink on paper or any other physical means. We can send all important communications, billing statements and demand notes and reminders (collectively referred to as “Disclosures”) to you electronically via our website or to an email address that you provide to us while applying for this loan. We will alert you when the Disclosures are available, by sending you an electronic communication. Our email will tell you how you can view the Disclosures. We will make the Disclosures available to you from the date it first becomes available, or the date we send you the email to alert you that it was available. This consent applies to all future Disclosures on your Account, to all future transactions in which you use the Stacs Payment option with us, at any time, and to other Disclosures that we provide to you by email, unless you have, prior to such transaction, withdrawn your consent.

By consenting, you agree that electronic Disclosures have the same meaning and effect as if we provided paper disclosures to you as we are required to do so. When we send you an email alerting you that the Disclosures are available electronically and make it available online, that shall have the same meaning and effect as if we provided paper Disclosures to you, whether or not you choose to view the Disclosures, unless you had previously withdrawn your consent to receive Disclosures electronically.

You agree that all applications for credit are subject to our approval. We may, in our sole discretion, not approve your application, or cancel an approved application. If We cancel your previously approved application:

• We will apply a full refund of any amounts you have paid (excluding any chargebacks or fees incurred in relation to your payment), and will cancel any future payments related to that product; and

• You will have no obligation to make any further payments to us or continue any other ongoing relationship with us with respect to your application.

All legal notices or demands to or upon us shall be made in writing and sent to us personally, by courier, certified mail, to our registered address on our website and our contact e-mail in the “Get in Touch” clause below.  All legal notices or demands to or upon a User shall be effective if either delivered personally, sent by courier, certified mail, or email to the last-known correspondence, fax or email address provided by the User. You agree that all agreements, notices, demands, disclosures, and other communications that we send to you electronically satisfy the legal requirement that such communication should be in writing.

THIS SECTION CONTAINS A BINDING ARBITRATION CLAUSE. THEY AFFECT EACH PARTY’S RIGHTS CONCERNING THE RESOLUTION OF ANY DISPUTE (DEFINED BELOW) BETWEEN THE PARTIES. This Dispute Resolution section applies to general disputes between you and Stacs. Any dispute with regards to a Stacs transaction shall be governed by the specific document governing the Stacs transaction.

To expedite resolution and the cost of any dispute, controversy or claim between you and Us related to any dispute or controversy arising from or relating to your use or inability to use the Services and generally with respect to Stacs, this Agreement or the enforcement of any provision of this Agreement (a “Dispute”), you and We agree to first attempt to negotiate any Dispute (except those Disputes expressly excluded below) informally for at least thirty (30) days before initiating any arbitration or court proceeding. Such informal negotiations will commence upon receipt of a written notice (each, a “Notice”). Your address for such Notices is your most recent address provided to us in connection with your Account, or an email to the email address you have provided in your Account. Any Notice from you must include your name, pertinent Account information, a brief description of the Dispute, and your contact information, so that We may evaluate the Dispute and attempt to informally resolve the Dispute. Any Notice from Us will include pertinent Account information, a brief description of the Dispute, and Our contact information, so that you may evaluate the Dispute and attempt to informally resolve the Dispute. If the informal negotiations are successful, no further action is necessary.

IF THE PARTIES ARE UNABLE TO RESOLVE A DISPUTE THROUGH INFORMAL NEGOTIATIONS, THE PARTIES AGREE THAT EITHER YOU OR WE MAY ELECT TO HAVE THE DISPUTE (EXCEPT THOSE DISPUTES EXPRESSLY EXCLUDED BELOW) FINALLY AND EXCLUSIVELY RESOLVED BY BINDING ARBITRATION. ANY ELECTION TO ARBITRATE BY ONE PARTY WILL BE FINAL AND BINDING ON THE OTHER. The arbitration will be commenced and conducted under the Arbitration Rules of the Arbitration and Conciliation Act. You will be responsible for your arbitration fees and your share of arbitrator compensation. The arbitration may be conducted in person, through the submission of documents, by phone or online. The arbitrator will make a decision in writing, but need not provide a statement of reasons unless requested by a party. The arbitrator must follow applicable law, and any award may be challenged if the arbitrator fails to do so. Except as otherwise provided in this Agreement, you and We may litigate in court to compel arbitration, stay proceeding pending arbitration or to confirm, modify, vacate or enter judgment on the award entered by the arbitrator.

The parties agree that the following Disputes are not subject to the above provisions concerning informal negotiations and binding arbitration:

• any suit to compel arbitration, stay proceeding pending arbitration or to confirm, modify, vacate or enter judgment on the award entered by the arbitrator;

• any suit to seek temporary injunctive relief that will remain in place only until an arbitrator can determine whether the relief should be continued, modified or removed; or

• any claim related to actual or threatened infringement, misappropriation or violation of a party’s copyrights, trademarks, trade secrets, patents or other intellectual property rights.

The parties agree that any arbitration will be limited to the Dispute between Us and you individually. TO THE FULL EXTENT PERMITTED BY LAW, (1) NO ARBITRATION SHALL BE JOINED WITH ANY OTHER; (2) THERE IS NO RIGHT OR AUTHORITY FOR ANY DISPUTE TO BE ARBITRATED ON A CLASS-ACTION BASIS OR TO UTILIZE CLASS-ACTION PROCEDURES; AND (3) THERE IS NO RIGHT OR AUTHORITY FOR ANY DISPUTE TO BE BROUGHT IN A PURPORTED REPRESENTATIVE CAPACITY ON BEHALF OF THE GENERAL PUBLIC OR ANY OTHER PERSONS.

Arbitration will take place in Lagos, Nigeria. The parties agree that for any Dispute not subject to arbitration (other than claims proceeding in any small claims court), or where no election to arbitrate has been made, courts of the Federal Republic of Nigeria shall have exclusive jurisdiction and the parties agree to submit to the venue of the personal jurisdiction of such courts.

Except as expressly provided otherwise, this Agreement is governed by, and will be construed under, the laws of the Federal Republic of Nigeria.

If you have any complaints, feedback, and/or questions about us, our Service and/or these Terms, you may contact us at reachus@stacs.co

This Terms of Use and Service is effective this 5^th day of September, 2022.