Legal · Last updated August 27, 2024
Terms and conditions.
Welcome to ClassFundz. These terms govern your use of our website, classfundz.com, and any related services. By using ClassFundz you agree to be bound by them.
Introduction
ClassFundz (the “Company,” “we,” “our,” “us”) provides this platform and related services. These Terms and Conditions (the “Terms”) govern your use of our website and any related services (collectively, the “Services”). By accessing or using our Services, you agree to be bound by these Terms. If you do not agree, please do not use the Services.
Eligibility
By using the Services, you represent that you have the legal capacity to enter into this agreement. If you do not, you may only use our Services with the involvement of a parent or guardian who agrees to be bound by these Terms.
User accounts
Registration
To access certain features, you must register for an account and provide accurate, current and complete information — your name, email, password, university, faculty, department, and WhatsApp number. Keep your information up to date.
Security
You are responsible for maintaining the confidentiality of your password and PIN. Notify us immediately of any unauthorized use of your account. We are not liable for losses arising from your failure to protect your credentials.
Termination
We may suspend or terminate your account at any time, without notice, for any reason, including violation of these Terms or applicable law, or if we detect fraudulent activity.
Use of the services
License
Subject to these Terms, we grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Services for personal, non-commercial use.
Prohibited activities
You agree not to: use the Services unlawfully; impersonate another person or entity; interfere with or disrupt the Services; circumvent any security features; copy, modify, distribute or disclose the Services without our consent; or use bots, scrapers or any automated means to access the Services.
User content
You are solely responsible for content you upload. By providing content, you grant us a worldwide, non-exclusive, royalty-free, transferable license to use it in connection with operating and promoting the Services.
Monitoring
We may, but are not obligated to, monitor content and remove anything that violates these Terms or is otherwise harmful.
Groups and fund management
Group creation and membership
You can create and join class groups to manage class funds. As a group administrator, you may approve or reject membership requests from other users and set group-specific rules.
Class representative
Your group may elect a class representative (“Class Rep”) to manage the group's funds. The Class Rep can request fund withdrawals, subject to approval by the group.
Fund transfers and approvals
Any fund transfer request made by the Class Rep must be approved by at least 60% of the group's members. You agree to review and approve or reject transfer requests in a timely manner.
Automated collection
ClassFundz provides a QR-based collection flow to confirm item pickup and streamline the distribution of items, reducing the need for manual tracking.
Unique personal account numbers
Assignment
Upon successful registration and peer verification, you will be assigned a unique personal account number (“Account Number”). It is linked to your user account and used to manage and track your transactions within the platform.
Management
You are responsible for ensuring that all transactions conducted through your Account Number are authorized. Funds transferred to your Account Number are exclusively yours and cannot be accessed or withdrawn by other users without your approval.
Records
Every transaction conducted through your Account Number is recorded in your ClassFundz account. You can view and manage your transaction history through the dashboard.
Uploads and verification
File uploads
During registration and verification, you may be required to upload a passport photo and a means of identification (e.g. a screenshot of your student portal). You represent that the files you upload are accurate, current, and free of viruses or malware.
File storage
Uploaded files are stored securely via Cloudinary, a third-party cloud storage provider. By uploading, you grant us and our providers the right to store, process and use your files in line with our Privacy Policy.
Peer verification
To complete registration, at least 20% of your peers within your class group must confirm that they know you. This peer-verification process ensures the integrity of the platform.
Payments and transactions
Payment processing
All financial transactions on ClassFundz are handled by Paystack (and, where applicable, Flutterwave). By using our Services, you agree to comply with the payment processor's terms and all applicable laws.
Transaction fees
You may be subject to transaction fees imposed by the payment processor or your bank. We are not responsible for those fees.
Refunds and disputes
All payment transactions are final and non-refundable, except as required by law. If you believe a transaction was made in error, you must contact the payment processor to resolve the issue.
No liability for processor errors
We are not liable for errors, delays, or issues that arise during payment processing, including technical problems, payment failures, or unauthorized access. You agree to indemnify us from claims arising out of your use of third-party payment services.
Security
Data security
We implement appropriate technical and organizational measures to protect your data from unauthorized access, use or disclosure, including encryption, firewalls and secure servers.
Password security
Passwords are stored using industry-standard hashing. You are responsible for maintaining the confidentiality of your password and any activity that occurs under your account. Use a strong, unique password and change it regularly.
Unauthorized access
If you suspect your account has been compromised, notify us immediately. We may suspend or terminate accounts that show suspicious activity.
No BVN required
ClassFundz does not require you to provide your Bank Verification Number (BVN) for registration or use of the platform. We do not request or store your BVN.
Termination
By you
You may terminate your account at any time by contacting our support team. Upon termination you will lose access to your account; associated data will be deleted per our data-retention policies.
By us
We may terminate or suspend your account, without notice, if we determine you have violated these Terms or applicable law, or if your actions pose a risk to the security or integrity of our Services.
Effect of termination
All rights and licenses granted to you under these Terms immediately cease on termination. Outstanding obligations (including payment and indemnity) survive.
Intellectual property
All content, materials and intellectual property associated with our Services — text, graphics, logos, images, software, and audiovisual content — are the property of ClassFundz or its licensors and are protected by applicable IP laws. Subject to your compliance with these Terms, we grant you a limited, non-exclusive, non-transferable, revocable license to access and use the content for personal, non-commercial use.
The ClassFundz name and logo are trademarks of ClassFundz. Any feedback you submit becomes the sole property of ClassFundz and we may use it without compensation to you.
Disclaimers and limitation of liability
The Services are provided “as is” and “as available,” without warranties of any kind. We do not warrant that the Services will be uninterrupted, error-free, secure or free from viruses or harmful components.
To the fullest extent permitted by law, ClassFundz and its affiliates will not be liable for any indirect, incidental, special, consequential or punitive damages arising from your use of the Services. Our total liability to you for any claim shall not exceed the amount you paid to us in the twelve (12) months preceding the claim.
You agree to indemnify and hold ClassFundz harmless from any claims or losses arising out of your use of the Services or your violation of these Terms.
Governing law and disputes
These Terms are governed by the laws of the Federal Republic of Nigeria, without regard to conflict-of-law principles. Any disputes arising from these Terms will be resolved through binding arbitration under the Nigerian Arbitration and Conciliation Act, conducted in English, in Nigeria. You agree to resolve disputes on an individual basis, waiving any right to bring a class action.
Changes to these terms
We may modify these Terms at any time. If we make material changes we will notify you by posting the updated Terms on our website or by other means. Your continued use of the Services after such changes constitutes acceptance. If you do not agree, you must stop using the Services.
Miscellaneous
These Terms (together with our Privacy Policy) constitute the entire agreement between you and ClassFundz regarding your use of the Services, and supersede any prior agreements. If any provision is held invalid or unenforceable, it will be enforced to the maximum extent permitted by law and the remaining provisions will remain in effect. No waiver of any term will be deemed a continuing waiver. You may not assign these Terms; we may assign them to any party.
Contact
Privacy
Your privacy matters. Read our Privacy Policy to understand how we collect, use and protect your information.