Terms of Service

1. Acceptance of Terms

Welcome to SomeMoney. By accessing or using our mobile application, website, or any of our services, you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, please do not use our services.

These Terms constitute a legally binding agreement between you and SomeMoney Nigeria Limited ("SomeMoney", "we", "us", or "our"). Please read them carefully.

2. Eligibility

To use SomeMoney services, you must:

• Be at least 18 years of age or older
• Be a Nigerian citizen or legal resident
• Have a valid Bank Verification Number (BVN)
• Have a Nigerian bank account
• Provide accurate and complete information during registration
• Have the legal capacity to enter into binding contracts
• Not be subject to any bankruptcy or insolvency proceedings

3. Account Registration and Security

3.1 Account Creation

You must create an account to access our services. You agree to provide accurate, current, and complete information during registration and to update such information to keep it accurate, current, and complete.

3.2 Account Security

You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activities that occur under your account
• Notifying us immediately of any unauthorized use
• Ensuring you logout after each session

3.3 Account Suspension

We reserve the right to suspend or terminate your account if you violate these Terms, engage in fraudulent activities, or for any other reason at our sole discretion.

4. Loan Services

4.1 Loan Application

When you apply for a loan through SomeMoney, you authorize us to conduct credit checks, verify your identity, and assess your creditworthiness using information from credit bureaus and other sources.

4.2 Loan Approval

Loan approval is at our sole discretion. We reserve the right to approve, deny, or modify any loan application without providing reasons. Approval is subject to our credit assessment and risk management policies.

4.3 Loan Terms

Each approved loan will have specific terms including:

• Principal loan amount
• Interest rate and fees
• Repayment schedule and due dates
• Late payment penalties
• Early repayment terms

You agree to these specific terms when you accept the loan offer.

5. Repayment Obligations

5.1 Repayment Commitment

You agree to repay the full loan amount plus all applicable interest and fees according to the repayment schedule. Payment will be automatically deducted from your linked bank account on the due date.

5.2 Late Payments

If you fail to make payment on the due date, you will be charged late payment fees as specified in your loan agreement. Continued default may result in:

• Additional penalty charges
• Negative reporting to credit bureaus
• Debt collection activities
• Legal action to recover the debt
• Account suspension or termination

5.3 Early Repayment

You may repay your loan early without penalty. Early repayment may reduce the total interest charged according to the terms of your loan agreement.

6. Fees and Charges

You agree to pay all fees and charges associated with your loan, including but not limited to:

• Interest charges as specified in your loan agreement
• Processing fees (if applicable)
• Late payment fees
• Failed transaction fees
• Any other fees disclosed in your loan terms

All fees and charges will be clearly disclosed to you before you accept a loan offer.

7. Prohibited Activities

You agree NOT to:

• Provide false, inaccurate, or misleading information
• Use another person's identity or credentials
• Create multiple accounts to circumvent loan limits
• Attempt to manipulate or interfere with our systems
• Use our services for any illegal purposes
• Reverse engineer or attempt to access our source code
• Violate any applicable laws or regulations
• Harass, abuse, or harm our staff or other users

8. Debt Collection Practices

In the event of default, we may engage in debt collection activities including but not limited to phone calls, SMS messages, emails, and in-person visits. We comply with all applicable debt collection laws and regulations in Nigeria.

We may also engage third-party debt collection agencies to recover outstanding debts. These agencies are bound by the same legal and ethical standards that we follow.

9. Credit Reporting

We report loan information to licensed credit reference bureaus in Nigeria. Your loan repayment history will affect your credit score. Timely payments improve your credit score, while defaults negatively impact it. This information may be used by other financial institutions when assessing your creditworthiness.

10. Intellectual Property

All content, features, and functionality of the SomeMoney app and website, including but not limited to text, graphics, logos, icons, images, audio clips, and software, are the exclusive property of SomeMoney or its licensors and are protected by copyright, trademark, and other intellectual property laws.

You may not reproduce, distribute, modify, create derivative works of, publicly display, or exploit any content without our prior written permission.

11. Disclaimer of Warranties

OUR SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. WE DO NOT WARRANT THAT OUR SERVICES WILL BE UNINTERRUPTED, ERROR-FREE, OR COMPLETELY SECURE.

While we strive to maintain accurate information, we do not guarantee the accuracy, completeness, or reliability of any content on our platform.

12. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, SOMEMONEY SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS OR REVENUES, WHETHER INCURRED DIRECTLY OR INDIRECTLY, OR ANY LOSS OF DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES RESULTING FROM YOUR USE OF OUR SERVICES.

13. Indemnification

You agree to indemnify, defend, and hold harmless SomeMoney and its officers, directors, employees, agents, and affiliates from any claims, liabilities, damages, losses, costs, or expenses (including reasonable attorneys' fees) arising out of or related to your use of our services, violation of these Terms, or infringement of any third-party rights.

14. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising out of or relating to these Terms shall be resolved through:

1. Good faith negotiations between the parties
2. Mediation, if negotiations fail
3. Arbitration in accordance with the Arbitration and Conciliation Act
4. Litigation in Nigerian courts as a last resort

15. Changes to These Terms

We reserve the right to modify these Terms at any time. We will notify you of material changes by posting the updated Terms on our app and website. Your continued use of our services after such changes constitutes acceptance of the modified Terms.

16. Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.

17. Contact Us

If you have any questions about these Terms of Service, please contact us: