1. Introduction

Welcome to the Nuejoor automated ROSCA (Rotating Savings and Credit Association) Platform. These Terms and Conditions govern your use of our platform and services.

2. Platform Nature

This platform is an automation service for ROSCA communities.

We do not:

• Hold or pool any funds
• Create wallets or maintain balances
• Promise returns or guarantee payouts
• Act as a financial institution
• Provide credit or loans
• Store bank details

3. User Responsibilities

As a user, you are responsible for:

• Inviting trusted members to your groups, or only joining private trusted groups
• Ensuring sufficient funds in your bank account for contributions
• Resolving payment failures and disputes outside the platform
• Providing accurate KYC information
• Maintaining the security of your account

4. Payment Processing

All payments are processed through Stripe Connect using Direct Debit (BACS). You authorize us to initiate direct debits from your verified bank account when contributions are due. You also authorize automatic transfers to group members when they are due for payout.

5. Fees

The platform charges a service fee per contribution cycle, which is deducted automatically from the payout amount. Current fees are displayed in your group details.

6. Termination

We reserve the right to suspend or terminate accounts that violate these terms or engage in fraudulent activity. Users with multiple failed payments may be banned from the platform.

7. Limitation of Liability

The platform is not liable for:

• Payment failures due to insufficient funds
• Actions of other group members
• Technical issues with Stripe or banking systems
• Losses incurred from group participation

8. Changes to Terms

We may update these terms from time to time. Continued use of the platform after changes constitutes acceptance of the new terms.