Terms and Conditions

PEROPHS INVESTMENTS LIMITED

TERMS & CONDITIONS FOR THE USE OF THE VESTED MOBILE APPLICATION

Introduction

Before signing up on the Vested Mobile Application, You should carefully read, understand, and accept the Terms and Conditions (“T&C”) herein as they will govern your use of and access to our Services (as defined below). Please note that your use of and access to the Services are subject to the following terms; if You do not agree to all these terms, You may not use or access the Services in any manner.

This T&C represents an agreement between:

YOU; and

PEROPHS INVESTMENTS LIMITED, a company registered under the laws of the Federal Republic of Nigeria with a Registration Number of 1615584 and having its principal place of business at St Nicholas House (10^th Floor), Catholic Mission Street Lagos (hereinafter referred to as “PEROPHS” or “We” or “Us” which expression shall, where the context so admits, include its legal representatives and assigns).

Perophs Investments Limited is hereinafter referred to as “THE SERVICE PROVIDER” which expression shall, where the context so admits, include their respective legal representatives, and assigns.

This T&C contains the terms governing your use of and access to the Vested Mobile Application and all affiliated websites owned and operated by Us (collectively, the "Application") and our Services. "You" and "your" mean the person who uses or accesses the Services.

Definition and Interpretation

1. In this T&C, save where the context otherwise requires, references to:
2. An individual or individuals shall include his/her or their respective personal representatives;

The singular includes the plural and vice versa and any gender includes any other gender;

The following words and expressions in these terms and conditions (save where the context requires otherwise) bear the following meanings:

Purpose, Acceptance, and Use

Purpose

The Application can be accessed by downloading and using it on a mobile phone. It allows the User, individually or jointly with their partner, to save funds, invest funds using the investment marketplace feature on the Application, carry out financial planning and budgeting, and carry out transactions such as the purchase of airtime and mobile data and pay utility bills.

This T&C and any other agreements between You and Perophs, constitute a binding contract between You and Perophs and sets out the terms and conditions on which You may use the Application.  The T&C and any amendments or variations thereto shall take effect on their date of publication or on such other date as may be expressly communicated to You, whichever is earlier.

The Application is intended solely for individuals who are 18 years old or older.  Any access to or use of the Application by anyone under 18 years is unauthorized, unlicensed, and in violation of this T&C. By accessing or using the Application, You represent and warrant that You are 18 years old or older.

Acceptance

This T&C governs your use of all products, services, content, and information provided by Perophs in respect of the Application.  By downloading, registering, accessing, and/or using the Application, You acknowledge that You have read, understood, and agree to be legally bound by this T&C. If You do not agree with this T&C and/or our Privacy Policy, do not access or use the Application.  You must agree to this T&C before accessing the Application by ticking the “AGREE” box below.  This action shall constitute your acceptance of this T&C and our Privacy Policy and shall govern your access and usage of the Application.

By signing up to use the Application, You agree to comply with and be bound by the terms and conditions governing the operations of the Application and You affirm that the terms and conditions are without prejudice to any right that the Service Provider has with respect to the Application in law or otherwise.

You agree, subject to the T&C, to place certain funds with TCF Microfinance Bank Limited for the purposes of the Savings Feature.

You agree, subject to this T&C (specifically clauses 18 and 19), to place certain funds with the Investment Service Providers for the purposes of the Investment Service.

Use of The Vested Mobile Application

Your use of the Application is governed by the version of the T&C in effect on the date that the Application is downloaded by You.  We reserve the right to amend, change, vary or alter the T & C at any time with or without notice to You.  If You access or use the Application after the amended T&C has been published, You will be deemed to have agreed to the T&C as amended, changed, varied, or altered. 

You acknowledge and accept that Perophs offers the Application only electronically. Any query and complaint You may have relating to the Application shall be addressed to Perophs through the designated customer service email channel. For the avoidance of doubt, You acknowledge and accept that You will not be allowed or entitled to receive or demand the Services from the offices of the Service Provider.

Personal Use

The Application is intended only for your personal, non-commercial use unless We agree otherwise in writing. 

Access to The Vested Mobile Application

To enable You to create a User Profile on the Application, We require your name, your phone number, your email address, and your Bank Verification Number. You agree that You will provide true, accurate, current, and complete registration information about yourself.  We may also require that You provide your financial information, risk preferences, and any other information that We may require from time to time (“Personal Information”).  You hereby authorize Us to verify your Personal Information from independent sources that may be available to Us.  You shall promptly update your Personal Information via the Application in the event of any change or modification to your Personal Information.

In order to access the Application, You will be required to register and create a User Profile.  When You register, You will be asked to create a password and a four-digit PIN, which You will be required to use to access your Virtual Account. Perophs has physical, electronic, and procedural safeguards that comply with regulatory standards to guard Users' non-public personal information.  You shall be solely responsible for maintaining the confidentiality of your profile and password and PIN and for restricting access to your mobile device.  While Perophs shall take all reasonable steps to protect your Personal Information, You hereby accept responsibility for any breach, unlawful access, use, compromise, or manipulation of your Personal Information caused by your conduct, inaction, carelessness, inadvertence, or negligence.  You are to notify Us immediately if You become aware of any disclosure, loss, theft, or unauthorized access or use of your Personal Information.

We reserve the right to request further information from You pertaining to your use of the Application at any time.  Failure to provide such information within the time required by Us may result in the Us declining or terminating your access to the Application.

We reserve the right to decline your application to access the Application or to revoke the same at any stage at our sole discretion and without assigning any reason or giving any notice thereto or in accordance with notice periods permitted in law.

We offer the Services only electronically via the mobile application.  You acknowledge and accept that You will not be allowed or entitled to receive or demand the services pertaining to the Application at any office of the Service Provider and/or Perophs unless otherwise advised by the Us in our discretion.

After the account opening process, You will be deemed to hold a Virtual Account.

The Application is only available for use within Nigeria. Perophs makes no representation that the Application is appropriate or available for use outside Nigeria. If You access the Application from areas outside of Nigeria, You do so at your own risk and shall be responsible for compliance with the local laws of such area.

No Investment Recommendations or Professional Advice

The Application is not intended to provide any investment advice by Us, the Service Provider, or any third party, to acquire or dispose of any investment or security.  While the blog sections of the Application may provide general investment statements or financial analysis, such statements or analyses are not to be construed as our providing investment recommendations or advice.  Unless otherwise specified, You are solely responsible for determining whether any investment, security, or any other product or service, is appropriate or suitable for You based on your investment objectives and personal and financial situation.

No advice or information, whether oral or written, obtained by You from either the website of Perophs or the Service Provider or from the Application, shall create any warranty not expressly stated in this Agreement. If You choose to rely on such information, You do so solely at your own risk.

Prohibited Uses

You agree that You shall not do the following:

Use the Application in any manner that could damage or overburden Perophs’ server, or any network connected to Perophs’ server, interfere with any other party's use of the Application; or

Use the Application for any illegal or unlawful or malicious activity, or for activities that will be deemed improper under any law in force in Nigeria, which includes but is not limited to money laundering, financing of terrorism, fraud, racketeering, amongst others; or

Use the Application for any commercial purpose; or

Impersonate any person or entity, falsely state or otherwise misrepresent your affiliation with any person or entity, or use or provide any fraudulent, misleading, or inaccurate information; or

Access or use (or attempt to access or use) another user’s profile without permission or solicit another user’s login information.

You agree that We may take civil or criminal actions against You if We have reason to believe that You have used or attempted to use the Application in any manner prohibited above.

Communication

You consent to Us sending all notifications, notices, records, statements, communications, updates, records, and any other information regarding the Application provided to You (“Correspondence and Communication”) electronically.  Where applicable, You will be responsible for any charges, costs, or expenses incurred for sending any Correspondence and Communication to You.

Transmission of Personal Information

Your use of the Application will involve the transmission of your Personal Information to a third-party service provider(s). In view of your right to provide consent for the transmission of your personal information, You consent to the transmission of such information through the Application and represent that such consent shall be effective each time You use the Application.  You hereby agree that We reserve the right to request further information from You pertaining to your access or use of the Application.

The transmission, use, and/or analysis of your personal data or information shall be processed by Us in accordance with the Nigeria Data Protection Regulation 2019 as may be amended from time to time and any other data protection regulation in force.

Usage monitoring

We reserve the right to access, archive, or monitor your use of the Application in accordance with the applicable laws of the Federal Republic of Nigeria.  By using the Application, You accept our right to access, archive, or monitor usage to ensure service quality, or to evaluate the Application, the security of the Application, compliance with the T & C, or for any other reason.  You agree that our monitoring activities will not entitle You to any cause of action or other rights with respect to the way We monitor the usage of the Application and enforce, or fail to enforce, the T & C.  You further agree that in no event will Perophs be liable for any damages incurred by You because of our usage monitoring.

Copyright, Trademark, and other Intellectual Property Rights

You acknowledge that the Application is protected by applicable copyrights, trademarks, trade secrets, patents, proprietary rights, and other intellectual property laws and that these rights are valid and protected in all forms, media, and technologies existing now or developed in the future.  Accordingly, You may not copy, distribute or modify the Application, including any text, graphics, user interface design, or logos, except as explicitly authorized by Us in writing. 

Connectivity                                  

You agree that You are responsible for the means You use to access the Application and understand that your hardware, software, the Internet, your telecommunications service provider, and other third parties involved in connecting You to the Application may not perform as intended or desired.  

Indemnification

You agree that the Application 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 Perophs and the Service Provider shall not be liable for same.  Neither Perophs nor the Service Provider shall be liable for any damages or injuries arising out of or in connection with the use of the Application 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 Perophs and the Service Provider, along with their directors, officers, employees, successors and assigns from and against all actions, proceedings, claims, and demands whatsoever for or on account of or in relation to any use of the Application and from and against all damages, costs, charges, and expenses in respect thereof.

Availability of the Vested Mobile Application and Services

While We have put resources into building and testing the Application, glitches, slowdowns, and crashes may occur. We will also need to periodically restrict access to some parts of the Application to perform routine maintenance. We will try to schedule maintenance during the middle of the night. While it is our intention that the Application will be available seven days a week except when maintenance is scheduled (usually for weekends or any other day in the case of an emergency), You understand that We do not guarantee that You will always be able to access the Application.

We are constantly improving the Services We provide on the Application and reserve the right to modify or change any of our Services, temporarily or permanently with or without prior notice to You.

Termination and Withdrawal

Termination

You acknowledge and agree that We may restrict, suspend, or terminate the T&C or your access to, and use, of all or any part of the Application, at any time, with or without cause, including but not limited to any breach of the T&C without prior notice to You. 

We will fully cooperate with any law enforcement authorities or court order requesting or directing Us to disclose the identity of anyone posting, publishing, or otherwise making available any User information, emails, or other materials that are believed to violate the T&C.

Any suspension, termination, or cancellation of the Application shall not affect your obligations to Us under these T&C (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.

Withdrawal

You have a right to withdraw from the Application at any time.

Representation and Warranties

You hereby represent and warrant that:

You have read and understood the T&C;

You are at least 18 (eighteen) years of age;

Your Personal Information and any other information given to Us is true, accurate, authentic, current, and complete;

You grant to Us the right to use your Personal Information in accordance with the T&C;

You agree to comply with and be bound by the T&C governing your use of the Application and You affirm that the T&C are without prejudice to any other right that We may have with respect to your use of the Application under the laws of the Federal Republic of Nigeria or otherwise;

You shall not assign or transfer your rights under the T&C to anyone else, without our approval in writing;

Your acceptance and use of the Application does not violate any applicable law in Nigeria or any contract or obligation to which You are a party or are otherwise bound; and

That if You are accepting the T&C on behalf of a company, organization, or other legal entity, that You have their consent or authorization to do so.

Limitation of Liability

YOUR SOLE REMEDY FOR DISSATISFACTION WITH YOUR USE OF THE APPLICATION IS TO STOP USING THE APPLICATION.  YOU AGREE THAT UNDER NO CIRCUMSTANCES WILL PEROPHS INVESTMENTS LIMITED 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 APPLICATION, 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.

Disclaimer of Warranties

YOU ACKNOWLEDGE AND AGREE THAT THE APPLICATION IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS.  NONE OF THE RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS OF PEROPHS GUARANTEE THE ACCURACY, RELIABILITY, COMPLETENESS, OR USEFULNESS OF ANY INFORMATION ON THE APPLICATION.  WE DO NOT WARRANT THAT THE APPLICATION 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 APPLICATION.

Third-Party Service Provider(s)

In order for You to conveniently use the Application, We may utilize the service of a third-party service provider(s). Please be aware that Perophs is neither responsible for the services provided by third-party service providers nor are We responsible for the privacy policy or practices of a third-party service provider(s).  PLEASE NOTE that where You do not accept the terms and conditions of a third-party service provider(s), DO NOT ACCEPT the T&C.  We will ensure that any change, variation, or amendments to the terms and conditions of a third-party service provider(s) is promptly communicated to You.

Third-Party Service Provider(s) Disclaimer 

You agree that the T&C governs only the Application provided by Perophs and not any service(s) provided by a third-party service provider(s).  You agree that Perophs decision to use the service of a third-party service provider(s) is not an endorsement of the content or services provided by a third-party service provider(s).  By using the Application, You agree to use the services of a third-party service provider(s) at your own risk.  You agree that We do not control third-party service provider(s) and that there is no agency relationship between Us and third-party service provider(s).  We expressly disclaim any responsibility for any service or information provided by a third-party service provider(s), and You agree to hold Us free from any liability that may arise from service(s) provided by a third-party service provider(s).  Perophs does not guarantee the accuracy, reliability, completeness, or usefulness of any service(s) provided by a third-party service provider(s).  We do not guarantee that the services provided by a third-party service provider(s) will be secured, uninterrupted or free from errors.  We have no responsibility for any damage that may be caused to You because of using the services of a third-party service provider(s).  You agree that any claim, controversy, complaint, or dispute arising out of or in connection with the service(s) of a third-party service provider shall be resolved in accordance with the terms and conditions of such third-party service provider.

Disclosures

You agree and expressly consent that Perophs may in its absolute discretion:

Disclose to the Nigerian Security and Exchange Commission of Nigeria, the Central Bank of Nigeria, the Nigerian Police Force, correspondent banks and agents, or any other person authorized by law in relation to any matter concerning the operation or proposed operation of the Virtual Account;

Disclose to the Service Provider advocates for the purposes of seeking advice or recovering any monies due to the Service Provider, details of your Virtual Account; to any debt collection agent or auctioneers for the purpose of collecting any sums due to the Service Provider; and to a credit reference bureau in the event of breach by You; and

Disclose any information in its possession or in the possession of the Service Provider relating to the Application at any time including your Virtual Account details to any other party or institution under international laws and any other laws to comply with its obligations pertaining to banking operations and the provision of the services.

Governing Law and Dispute Resolution

The T&C shall be governed by and construed in accordance with the Laws of the Federal Republic of Nigeria.

You agree that any claim, controversy, complaint, or dispute arising out of or in connection with your use of the Application (‘Dispute’) shall be resolved by mutual consultation between You and Perophs only.  It is agreed that any dispute which cannot be mutually resolved by the Parties within 30 (thirty) days of parties taking steps to resolve the Dispute shall be resolved by arbitration in accordance with the Arbitration and Conciliation Act Cap A18 Laws of the Federation of Nigeria 2004.  The parties shall jointly appoint a sole arbitrator.  Where the parties are unable to agree on the choice of an arbitrator within 14 (fourteen) days from when the party giving notice has requested that the matter be referred to arbitration, any party may apply to the Chairman of the Chartered Institute of Arbitrators, UK (Nigeria Branch) to appoint an arbitrator.  The place of arbitration shall be Lagos State, Nigeria and the proceedings shall be in English Language.  The resulting arbitral award shall be final and binding and judgment upon such award may be entered in any court having jurisdiction thereof.  Notwithstanding the above, You hereby agree that Perophs reserves the exclusive right, at its option, to institute legal proceedings regarding any Dispute in any Nigerian court of law.

Severability and Miscellaneous Provisions 

If any provision of the T&C is deemed unlawful, void, or for any reason unenforceable, the remaining provisions shall be fully enforced, and the remaining provisions shall remain in full force and effect.  The failure of a party to enforce any right or provision of the T&C will not be deemed a waiver of such right or provision.

You shall comply with all laws, rules, and regulations of any governmental authority or agency which govern or apply to the operation and use of the Application.

Perophs may assign its rights and obligations under the T&C or any rights hereunder without your consent. The relationship of the parties under the T&C is that of independent contractors, and the T&C will not be construed to imply that either party is the agent, employee, or joint venture of the other.