Payvest is provided by Cosmotran Global Limited.

INTRODUCTION

1. This agreement outlines the terms and conditions (the “Terms“) between you (a “Sponsor“, “you“) and Cosmotran Global Limited (“Cosmotran Global“, the “Company“, “we“, or “us“) under which you agree to sponsor fast-moving businesses (“Project“) via our mobile App (the “Platform“).

2. It is important that you read these Terms carefully. We strongly recommend that you seek independent advice when considering whether to sponsor a project with your money through the Platform.
3. We do not provide any advice, nor do we make any recommendations for you. The Company solely allows you to sponsor a project on the Platform. It is your responsibility to assess whether the Platform is suitable or appropriate for your needs and any decision made to use our Services is done so entirely at your own risk. Please be aware that the execution of these Terms does not imply that we have confirmed that the use of the Platform and our Services are suitable or appropriate for you. We advise you to consider whether sponsoring a project through the Platform meets your required risk levels and objectives, and you should only commit such funds that you are able to financially bear the risk of losing considering your other financial commitments. By using the Platform, you confirm that you have the necessary experience and knowledge to understand the risks involved.
4. You confirm your agreement to these Terms either by registering as a sponsor on our platform or by signing a copy of these Terms.
5. By continuing on our platform, you agree to the following terms together with the Terms of Use, consent to our privacy policy, agree to transact business with us, and receive communications relating to the sponsorship electronically.

LEGAL AND REGULATORY INFORMATION

1. Cosmotran Global Limited is a limited liability company registered in Nigeria (registration number RC 1157952 incorporated under the Companies Allied Matters Act, 1990 having its Registered Office at 249 Abuloma Road, Port Harcourt.
2. Cosmotran Global Limited is a mother company to Payvest and it was founded on the premise to proffer intelligence, strategy, solutions that support companies and businesses to survive and thrive in a highly competitive market.

SPONSORSHIP TERMS

1. The Sponsor will receive periodic updates on the status of the project by email. The updates are also available on your profile on the Platform.
2. You are entitled to request for a physical visit to your sponsored project, however, you must provide us with at least 14 days notice to schedule a visit
3. At the beginning of project tenure, you will be expected to pay costs related to the infrastructure and operations of the project. These costs may include acquisition of machinery, lease or purchase of land, maintenance costs, and the cost of supervision and administration. All costs are included in your sponsorship contribution
4. You agree that by sponsoring a project, your contribution is tied and unavailable for the entire duration of the project tenure and Payvest will not refund your contribution until the successful completion of a project tenure
5. At the end of successful project tenure, you can decide whether to withdraw your funds from the electronic wallet on the Platform and transfer to a bank account you provide us with or to sponsor a new project.
6. At the end of project tenure, any profits made will be shared between the Sponsor, the business owner, and Payvest based on a predetermined model unique to that project tenure. This is done at the end of the stated tenure period for that project.
7. You acknowledge that you do not own any of the sponsored projects and are only entitled to the profits gotten in the project tenure you participate in.

SPONSOR REPRESENTATIONS AND WARRANTIES

Representations and warranties are statements and promises made by you to the Company, which we rely on as being accurate in our dealings with you. You make the following representations and warranties to us at the time of agreeing to these Terms and every time you use the Platform or Services, including the time you are matched to a Loan Agreement;

• you are over the age of 18 years;
• you are of sound mind and have the capacity to enter into these Terms and sponsor a project;
• all personal information that you provide about yourself is accurate and true to the best of your knowledge;
• you hold a bank account in Nigeria in your own name and will use this account to transfer money to our account when you sponsor a project and to receive interest earned;
• you have carefully considered the risks involved with using the Platform, the Services and sponsoring a project and also the risks associated with any form of cash contribution or investment, including but not limited to the possibility of losing all the money you invest;
• you will only ever sponsor with your own money unless you are authorized on behalf of a third party (“Third Party“) and we agree that you may act on behalf of that Third Party;
• you are not using any illegal funds or attempting to launder by sponsoring a project
• if you are registering or accepting these Terms on behalf of a legal entity such as a company, trust or partnership, you are legally authorized to do so and we may request evidence of such legal entitlement (by way of a copy of any document which shows the valid and subsisting authorization); and

• you are not breaking any laws or regulations that are applicable to you or any company, trust or partnership upon whose instructions you are acting.

ACCESS AND USE

1. The Platform and Website are at all times, subject to the Payvest Money mobile App Terms of Use.
2. Secure access to the Platform is provided by way of your username and password. These log-in credentials are unique to you and are the primary method of securely identifying you when delivering our Services to you. It is therefore extremely important that you keep your username and password secure at all times.
3. If you suspect that your secure access to the Platform has been compromised in any way, it is your responsibility to contact us.
4. You confirm that you will only use our Platform for the purposes set out in these Terms.
5. You confirm that you will not attempt to gain unauthorized access to the secure areas of the Website and Platform and furthermore you will not attempt to use code or software to manipulate or automate functions available on the Payvest mobile App.
6. You understand that we may store your IP address information and may monitor your use of the Website in accordance with our cookie policy.
7. Access to the Platform may be restricted at the discretion of the Company, particularly during periods of maintenance and updating.
8. We have the right not to act on your instructions including where we deem that your instruction was not sufficiently clear, or we could not verify your identity to our satisfaction, or the instruction was not made by you, or we believe that the instruction may be related to illegal activity.

ANTI-MONEY LAUNDERING

1. Where we discover that the Platform is being 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.

 FOREIGN EXCHANGE RISK

1. Where a Sponsor contributes in a currency other than the Naira, foreign exchange gain or loss and fluctuations in currency rates may have an impact on the earnings made on such investment by the Sponsor.
2. All profits on investment shall be converted and returned in Naira based on the Central Bank of Nigeria (CBN) official exchange rate. The Sponsor, therefore, enters into any transactions in currencies other than the Naira at their sole risk and shall bear all responsibilities for any gains or loss as a result.
3. Unexpected changes in currency exchange market conditions may have an impact on the extent of profit the Sponsor would be exposed to such as when there is an upward or downward movement in the relevant rates.
4. The Sponsor understands and is able to assume the risk of loss associated and agrees to be liable for any resulting deficit this might have on the investment made or profits earned.

TERM AND TERMINATION

1. Except as otherwise terminated in accordance with the provisions below, these Terms shall commence on the date you register to sponsor a project with the Company and shall remain valid and binding for as long as you have outstanding sponsored project tenure.
2. These Terms may be superseded by any amended Terms.
3. These Terms may be terminated by you provided that you have no outstanding sponsored project tenure. Notice of termination must be provided in writing to x10money@cosmotranglobal.com
4. These Terms may be terminated by the Company at any time without notice provided that you do not have an outstanding sponsored project.

PRIVACY

1. You confirm that you have read and understood the Company`s Privacy Policy which provides information on how we use and stores the personal information that you provide to us and you further acknowledge that the Company may amend and update this policy from time to time.

INDEMNITY

Subject to the Terms of Insurance and any insurance claims settled, you agree that the Company 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 project according to expectations.

You agree to indemnify and hold harmless the Company, any farmer, and all our other agents or sub-contractors, 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 Website;
• your negligence or any default by you of any of these Terms or the terms of any project you are willing to sponsor;
• any inaccurate or incomplete information that you have knowingly provided to us;
• your 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, Services or Website;
• 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

DISPUTE RESOLUTION

1. This Agreement shall be governed by the Laws of the Federal Republic of Nigeria. Any dispute arising out of this Agreement, which cannot be settled, by mutual agreement/negotiation within 30 days shall be referred to arbitration by a single arbitrator at the Lagos Court of Arbitration (“LCA“) and governed by the Arbitration and Conciliation Act, Cap A10, Laws of the Federal Republic of Nigeria.
2. The arbitrator shall be appointed by the Parties, where Parties are unable to agree on the choice of an arbitrator, the choice of arbitration shall be referred to the LCA.
3. The findings of the arbitrator and subsequent award shall be binding on the Parties and may be enforced through a Nigerian court of law. Each Party shall bear its cost in connection with the Arbitration.

APPLICABLE LAW

This Agreement shall be interpreted and governed by the laws in force in the Federal Republic of Nigeria. The Parties submit to Arbitration and waive any objections based upon venue.

Contact Us

If you have any questions about these Terms or need in-depth interpretation, please contact us at hello@payvest.org            

Port Harcourt Office:

No. 39 Uyo Street, Off Stadium Road, Rumuomasi, Port Harcourt, Rivers State, Nigeria

+2348129906893