UPDATED ON THE 11TH OF NOVEMBER, 2020.
TERMS & CONDITIONS PLEASE NOTE THAT BY VISITING, USING, AND SIGNING UP ON THIS WEBSITE, YOU ACCEPT OUR TERMS AND CONDITIONS (AS DEFINED BELOW) OF SERVICE, THEREFORE, YOU ARE SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS. IF YOU DO NOT ACCEPT/ AGREE TO OUR TERMS AND CONDITIONS, YOU MAY NOT USE OR SIGN UP FOR OUR SERVICES.
For this agreement, below are the definitions of frequent terms used:
TERMS and CONDITIONS” – means the agreement between you and Mola.ng and these terms and conditions govern your use of and access to our website and all affiliated websites owned and operated by us (collectively, the Website) and our products, services, and applications (together with the Website, the "Services".
“User”, “YOU” and “YOUR – means an individual who uses our website to evaluate our services i.e. the person who is accessing or using the service. In addition to this, a user is an individual who signs up on Mola.ng and that entitles the user to have her or his savings and or investment portfolio managed by Mola.ng.
“WE”, “US” and “OURS” – means Mola.ng and its successors, assignees, affiliates;
“MOLA.NG ACCOUNT” – means the account you have with us for the service.
Mola.ng is an automated platform that helps you plan, save, and invest responsibly over the internet.
We offer savings and investment services. In addition to these services, we offer a "send money" service.
2. Obligations/ Eligibility
For our compliance purposes and to provide the Services to you, you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information. When you register for the Services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as:
1. A copy of your government-issued photo ID, such as a passport or driver’s license;
2. A copy of a utility bill, bank statement, affidavit, or other bills, dated within three months of our request, with your name and Nigerian street address on it; and
3. Such other information and documentation that we may require from time to time.
By using the Services and providing User Information to us, you automatically authorize us to obtain, directly or indirectly through our third-party service providers and without any time limit or the requirement to pay any fees, information about you and your Bank Account from the financial institution holding your Bank Account and other third-party websites and databases as necessary to provide the Services to you. For purposes of such authorization, you hereby grant Mola.ng and our third-party service providers a limited power of attorney, and you hereby appoint Mola.ng and our third-party service providers as your true and lawful attorney-in-fact and agent, with the full power of substitution and re-substitution, for you and in your name, place, and stead, in all capacities, to access third-party websites, servers, and documents; retrieve information; and use your User Information, all as described above, with the full power and authority to do and perform every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN Mola.ng OR OUR THIRD-PARTY SERVICE PROVIDERS ACCESS AND RETRIEVE INFORMATION FROM SUCH THIRD-PARTY WEBSITES, Mola.ng AND OUR THIRD-PARTY SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You agree that other third parties shall be entitled to rely on the foregoing authorization, agency, and power of attorney granted by you. You understand and agree that the Services are not endorsed or sponsored by any third-party account providers accessible through the Services. We make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement. As between Mola.ng and our third-party service providers, Mola.ng owns your confidential User Information.
2.1 Your Access
To access certain features of Mola.ng, you must register to create an account ("User Account"). When you register, you will be asked to choose a password, which you will be required to use to access your User Account. Mola.ng has physical, electronic, and procedural safeguards that comply with regulatory standards to guard Users' non-public personal information. You are responsible for safeguarding your password and other User Account information. You agree not to disclose your password to any third party and you will notify Mola.ng immediately if your password is lost or stolen or if you suspect any unauthorized use of your User Account. As a user, you agree that you shall be solely responsible for any activities or actions under your User Account, whether or not you have authorized such activities or actions. You agree that the information you provide to us on account registration through our website will be true, accurate, current, and complete.
2.2 Alerts, Notifications, and Service Communications
By creating a User Account, you automatically sign up for various types of alerts via e-mail. We never include your password in these communications, but we may include your name, or email address and information about your portfolio(s). Anyone with access to your e-mail will be able to view these alerts.
2.3 Third party websites
3. Limit of Liability
IN NO EVENT SHALL RISE OR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY DAMAGES WHATSOEVER, INCLUDING WITHOUT LIMITATION INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF THIS APP OR OUR WEBSITE, THEIR CONTENT AND/OR USER INFORMATION, INCLUDING BUT NOT LIMITED TO THE QUALITY, ACCURACY, OR UTILITY OF THE INFORMATION PROVIDED AS PART OF OR THROUGH THIS WEBSITE OR SOCIAL MEDIA PROFILE FOR ANY INVESTMENT DECISIONS MADE ON THE BASIS OF SUCH INFORMATION, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT RISE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
Mola.ng cannot be held responsible for any financial insights, options, or recommendations provided to users.
3.1. For a User
You understand and acknowledge that the investment results you could obtain from investment information and financial insights provided by Mola.ng cannot be guaranteed and that Mola.ng cannot be held responsible.
3.2. Disclaimer Warranties
Your use of Mola.ng's website and the personal information you provide is at your sole discretion. Mola.ng's website and all materials, information, products, and services included therein are provided on an AS IS and AS AVAILABLE basis without warranties of any kind from Mola.ng.
Nothing on this website should be considered an offer, a solicitation of an investment offer. Past performance is no guarantee of future results. Any historical or expected returns numbers reflect past occurrence or future projections and may not reflect actual performance. With any investment, your capital is at risk. The value of your portfolio with Mola.ng can go down as well as it can go up and you may get back less than you invest.
Mola.ng EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, RELATING TO Mola.ng'S WEBSITE, CONTENT AND/OR USER INFORMATION, INCLUDING WITHOUT LIMITATION THE WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF PROPRIETARY RIGHTS, and COURSE OF DEALING OR COURSE OF PERFORMANCE.
Mola.ng DISCLAIMS ANY WARRANTIES, EXPRESS OR IMPLIED:
1. regarding the availability, security, accuracy, reliability, timeliness, and performance of Mola.ng's website, content, and/or user information;
2. that Mola.ng's website will be error-free or that any errors will be corrected;
3. that Mola.ng's website will be free from electronic viruses;
Regarding the performance of or the accuracy, quality, currency, completeness, or usefulness of any information provided by mola.ng on its website including but not limited to information obtained through social media.
NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM MOLA.NG'S WEBSITE 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.
3.3. Limitation of Liability
IN NO EVENT SHALL Mola.ng or any of its officers, directors, employees, or agents be liable to you for any damages whatsoever, including without limitation indirect, incidental, special, punitive, or consequential damages, arising out of or in connection with your use of mola.ng, content and/or user information, including but not limited to the quality, accuracy, or utility of the information provided as part of or through mola.ng or for any investment decisions made based on such information, whether the damages are foreseeable and whether or not mola.ng has been advised of the possibility of such damages. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction and in no event shall mola.ng's cumulative liability to you exceeds NGN35,000 (Thirty-five thousand Naira only).
Each of us can end this agreement at any time, subject to the maturity of all plans. We may terminate or suspend your access to Mola.ng, at any time with or without prior notice to you if your account is found to be fraudulent.
4.1 What if I want to stop using the Services?
You may stop using the Services, close your Mola.ng Account, and cancel these Terms at any time by deleting your account from your User Dashboad or by contacting us at [email protected] and providing sufficient information for us to verify your identity. Notwithstanding the foregoing, if there are any pending transactions relating to your Mola.ng Account when we receive your termination notice, we will close your Mola.ng Account promptly after such transactions are completed. Your termination of these Terms will not affect any of our rights or your obligations arising under these Terms before termination.
Upon the closure of your Mola.ng Account, we will transfer the funds in your Mola.ng Account, if any, to your Bank Account. If your Bank Account is closed or we are otherwise unable to transfer the funds in your Mola.ng Account to your Bank Account, we will send you a check for the amount of the funds to you at your street address in our records
If you do not use the Services for a certain period, applicable law may require us to report the funds in your Mola.ng Account as unclaimed property. If this occurs, we may try to locate you at the address shown in our records. If we are unable to locate you, we may be required to deliver any funds in your Mola.ng Account to the applicable state as unclaimed property. The specified period to report and deliver funds to a state varies by state but usually ranges between two and five years.
Provisions of these Terms that, by their nature, should survive termination of these Terms will survive termination of these Terms.
5. Dispute Resolution
For any controversies, disputes, demands, claims, or causes of action between you and us (including the interpretation and scope of this Section and the arbitrability of the controversy, dispute, demand, claim, or cause of action) relating to the Services or these Terms (as well as any related or prior agreement that you may have had with us), you and we agree to resolve any such controversy, dispute, demand, claim, or cause of action exclusively through binding and confidential arbitration. The arbitration will take place in the federal judicial district of your residence. As used in this Section, "we" and "us" mean Mola.ng and its subsidiaries, affiliates, predecessors, successors, and assigns and all of its and their respective employees, officers, directors, agents, and representatives. Also, "we" and "us" include any third party providing any product, service, or benefit in connection with the Services or these Terms (as well as any related or prior agreement that you may have had with us) if such third party is named as a co-party with us in any controversy, dispute, demand, claim, or cause of action subject to this Section.
The arbitration will be subject to the Federal Arbitration Act and not any state arbitration law. The arbitration will be conducted before one commercial arbitrator from the Nigeria Arbitration and Conciliation Act with substantial experience in resolving commercial contract disputes. As modified by these Terms, and unless otherwise agreed upon by the parties in writing, the arbitration will be governed by the Nigeria Arbitration and Conciliation Act's Commercial Arbitration Rules and, if the arbitrator deems them applicable, the Supplementary Procedures for Consumer-Related Disputes (collectively, the "Rules and Procedures").
If you wish to opt-out of this arbitration provision, you must notify us of your election in writing within 30 days of the date that you first became subject to this arbitration provision or within 30 days of the effective date of any material change to these Terms by sending a written notice to us by certified mail at the following address: Mola.ng Office: 23, Agodogba Ave, Parkview Estate, Ikoyi, Lagos. Attn: Arbitration Opt-Out. Your opt-out notice must include your name, address, phone number, and email address.
If for any reason a claim proceeds in court rather than in arbitration, the dispute will be exclusively brought in the Federal High Court located in the federal judicial district of your residence.
5.1 Governing law
These Terms are made under and will be governed by and interpreted accordingly per the laws of the Federal Republic of Nigeria.
At our request, you agree to defend, indemnify, and hold harmless Mola.ng, its affiliates, and its and their respective employees, officers, directors, agents, and third-party service providers from and against any claims, suits, liabilities, damages (actual and consequential), losses, fines, penalties, costs, and expenses (including reasonable attorneys' fees) arising from or in any way related to any third-party claims relating to your use of the Services, violation of these Terms, applicable law or any third-party rights, or your fraud or willful misconduct. Such indemnified parties reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.
You may not transfer, assign, or delegate these Terms or your rights or obligations hereunder or your Mola.ng Account in any way (by operation of law or otherwise) without our prior written consent. To the extent permitted by applicable law, we may transfer, assign, or delegate these Terms and our rights and obligations hereunder without your consent.
5.4 Third-Party Beneficiary
You agree that our third-party services providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.
6. Mola.ng "Dos" and "Don'ts
Mola.ng grants you a license to use our website so long as you comply with all our rules.
You agree you will:
1. Comply with all applicable laws, including, without limitation, privacy laws, intellectual property laws, anti-spam laws, export control laws, tax laws, and regulatory requirements;
2. Provide accurate information to us, whether reported directly or through a third party whom you authorize, and keep it updated;
3. Use the Services solely for your personal and non-commercial use;
4. Use your real name on your profile and keep your password confidential;
5. Professionally use the Services.
You agree you won't:
Circumvent, disable, or otherwise interfere with security-related features of Mola.ng or features that prevent or restrict use or copying of any content or User information Upload, email, transmit, provide, or otherwise make available: any User information which you do not have the lawful right to use, copy, transmit, display, or make available (including any User information that would violate any confidentiality or fiduciary obligations that you might have with respect to the User information); or any User information that infringes the intellectual property rights of, or violates the privacy rights of, any third-party (including without limitation copyright, trademark, patent, trade secret, or other intellectual property right, moral right, or right of publicity); or unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of solicitation; or any personal information that is unlawful, obscene, harmful, threatening, harassing, defamatory, or hateful, or that contain objects or symbols of hate, invade the privacy of any third-party, contain nudity, are deceptive, threatening, abusive, inciting of unlawful action, or are otherwise objectionable in the sole discretion of Mola.ng; or any personal information that contains software viruses or any other computer code, files, or programs designed to:
Interrupt, destroy, or limit the functionality of any computer software; or
interfere with the access of any user, host or network, including without limitation overloading, flooding, spamming, mail-bombing, or sending a virus to Mola.ng; or Any personal information that includes code that is hidden or otherwise surreptitiously contained within the User Information;
1. Use any Meta tags or other hidden text or metadata utilizing a Mola.ng name, trademark, and URL or product name;
2. Forge any TCP/IP packet header or any part of the header information in any posting, or in any way use Mola.ng to send altered, deceptive, or false source-identifying information;
3. Interfere with or disrupt (or attempt to interfere with or disrupt) any Mola.ng web page, server, or network, or the technical delivery systems of Mola.ng's providers, or disobey any requirements, procedures, policies, or regulations of networks connected to Mola.ng.
4. Attempt to probe, scan, or test the vulnerability of any Mola.ng system or network or breach or impair or circumvent any security or authentication measures protecting Mola.ng;
5. Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software used to provide Mola.ng;
6. Attempt to access, search, or meta-search Mola.ng or content thereon with any engine, software, tool, agent, device, or mechanism other than software and/or search agents provided by Mola.ng or other generally available third- party web browsers, including without limitation any software that sends queries to Mola.ng to determine how a website or web page ranks;
7. Violate the terms of service or any other rule or agreement applicable to you or Mola.ng's inclusion in, the reference to, or relationship with any third party or third-party site or service, or your use of any such third-party site or service; Collect or store personal information about other users without their express permission;
8. Impersonate or misrepresent your affiliation with any person or entity, through pre-texting or some other form of social engineering, or commit fraud;
9. Solicit any User for any investment or other commercial or promotional transaction;
10. Violate any applicable law, regulation, or ordinance;
11. Scrape or copy information through any means (including crawlers, browser plug-ins and add-ons, and any other technology or manual work);
12. Use, launch, or permit to be used any automated system, including without limitation "robots," "crawlers," or "spiders";
13. Copy or use the information, content, or data on Mola.ng in connection with a competitive service (as determined by Mola.ng);
14. Monitor Mola.ng's availability, performance, or functionality for any competitive purposes
7. Copyrighted Materials
NO UNAUTHORIZED USE. If you become aware of misuse of Mola.ng or content thereon by any person, please contact Mola.ng to report any abuse. Mola.ng has adopted and implemented a policy that provides for the termination of Accounts of users who infringe the rights of copyright holders.
Please see the Mola.ng Copyright and Intellectual Property Policy for further information.
9. General Terms
10. International Use
Mola.ng is only for use in Nigeria
Mola.ng is only available for use in Nigeria. We make no representation that Mola.ng is appropriate or available for use outside Nigeria. Similarly, we make no representations that accessing Mola.ng from locations outside Nigeria is legal or permissible by local law. If you access Mola.ng from areas outside of Nigeria, you do so at your own risk and are yourself responsible for compliance with local laws.
This Agreement takes priority over previous agreements
11.1. Integration & Severability
This Agreement is the entire agreement between you and us concerning Mola.ng, and your use of our website and mobile app, and supersedes all prior or contemporaneous communications and proposals (whether oral, written or electronic) between you and us. If any provision of this Agreement is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect. The failure of either party to exercise in any respect any right provided for herein shall not be deemed a waiver of any further rights hereunder. Investment recommendations are made to Clients on an individual basis and may differ based on specific circumstances.
11.2 Advice may differ
You understand and agree that we act as an investment advisor for Clients and will continue to do so. We and our personnel may make recommendations and take action for Clients that may differ from the recommendations we give to you or the action we take on your behalf. Also, our personnel may take actions for their accounts based on their investment situations that differ from the recommendations we give you or the actions we take on your behalf.
Any notice or communication will be in writing by email
11.4 Changes in Terms of Service?
We may add to or terminate any of the Services or amend these Terms at any time, in our sole discretion, without providing notice to you, subject to applicable law. We reserve the right, subject to applicable law, to deliver to you any notice of changes to existing terms or the addition of new terms by posting an updated version of these Terms on the Website or delivering notice thereof to you electronically. You are free to decide whether or not to accept a revised version of these Terms, but accepting these Terms, as revised, is required for you to continue accessing or using the Services. If you do not agree to these Terms or any revised version of these Terms, your sole recourse is to terminate your access or use of the Services. Except as otherwise expressly stated by us, your access and use of the Services are subject to and constitute your acceptance of, the version of these Terms in effect at the time of your access or use.
11.5 What to do if “User” mobile device is lost or stolen or if “User” suspects someone has gained unauthorized access to the username or password?
If your mobile device is lost or stolen or if you suspect someone has gained unauthorized access to your username or password, you must contact us immediately at [email protected] to take any action, you will need to provide certain User Information so we can verify your identity.
We encourage and welcome your feedback. You may submit Feedback by emailing us at [email protected]. You agree, however, that:
1. by submitting unsolicited ideas to Mola.ng or any of its employees or representatives, by any medium, including but not limited to email, written, or oral communication, you automatically forfeit your right to any intellectual property rights in such ideas;
2. such unsolicited ideas automatically become the property of Mola.ng. You hereby assign and agree to assign all rights, title, and interest you have in such feedback and ideas to Mola.ng together with all intellectual property rights therein. Also, you warrant that all moral rights in any feedback have been waived, and you do hereby waive any such moral rights.
This document constitutes Mola.ng's complete Terms of Service for Mola.ng and related services. If you have questions, concerns, comments about these Terms of Services of Mola.ng or content thereon, please contact Mola.ng at [email protected]