Risk Acknowledgement
Important: Please read this document carefully before participating in any ROSCA group.
1. Nature of ROSCA Participation
ROSCA (Rotating Savings and Credit Association) involves financial risk. By participating, you acknowledge that:
- This platform does NOT guarantee payouts
- This platform does NOT protect against defaults
- This platform is NOT a regulated financial institution
- You participate entirely at your own risk
2. Payment Default Risk
If a group member fails to make their contribution:
- The platform will retry the payment up to 4 times
- After 4 failures, the member will be banned platform-wide
- The group may be marked as having payment issues
- You may receive less than expected in your payout cycle
- The platform is NOT responsible for recovering defaulted amounts
3. Community Creator Responsibility
If you create a community, you are responsible for:
- Inviting only trusted individuals
- Ensuring all members understand the risks
- Chasing defaulters outside the platform (legal action, if necessary)
- Managing group disputes
4. Technical Risks
You acknowledge that:
- Bank transfers may be delayed due to banking system issues
- Stripe service interruptions may affect payment processing
- The platform may experience downtime
- Data may be temporarily unavailable during maintenance
5. No Recourse
You understand that:
- The platform does not provide refunds for contributions
- The platform cannot force members to pay
- The platform is not liable for losses due to member defaults
- Legal disputes must be resolved between members directly
6. Recommendation
Best Practice: Only participate in ROSCA groups with people you know and trust personally. Do not join communities with strangers or individuals you do not know, trust or cannot verify.