Terms of Use - Acastem.com

Terms and Conditions

1. Introduction

Welcome to Acastem.com. By accessing or using our Platform, you agree to abide by these Terms and Conditions. Please read them carefully.

2. Definitions

• "Platform": Refers to the website and services provided by Acastem.com.
• "User": Any individual or entity accessing or using the Platform.
• "Services": The features, content, and functionalities offered by Acastem.com.

3. User Responsibilities

• Ensure that all information you provide is accurate, up-to-date, and complete.
• Comply with all applicable laws and regulations while using the Platform.
• Maintain the confidentiality of your account credentials and notify us of any unauthorized use.

4. User Content

Users may upload or post content on the Platform. You retain ownership of your content but grant us a license to use, modify, and display it as necessary for the operation of the Platform.

5. Intellectual Property Rights

5.1. Platform Ownership

• The Platform's content, features, and functionality are owned by Acastem.com.
• Protected by Nigerian and international intellectual property laws.
• Includes all software, text, graphics, user interface, visual interface, photographs, trademarks, logos, sounds, music, artwork, and computer code.

5.2. Restrictions

• You may not: Copy, modify, or create derivative works.
• Decompile, reverse engineer, or attempt to extract source code.
• Remove any copyright or proprietary notices.
• Use any Platform content for commercial purposes.
• Transfer any rights granted under these Terms.
• Use any data mining, robots, or similar data gathering methods.

6. Disclaimer of Warranties

6.1. General Disclaimer

• The Platform is provided "as is" and "as available".
• We make no warranties of any kind, whether express or implied.
• We disclaim all warranties of merchantability, fitness for a particular purpose, and non-infringement.

6.2. Specific Disclaimers

• We do not guarantee that the Platform will be error-free or uninterrupted.
• Any content or information will be accurate or reliable.
• The Platform will meet your specific requirements.
• Errors or defects will be corrected.
• The Platform is free of viruses or harmful components.
• Any results or outcomes from using the Platform.

7. Limitation of Liability

7.1. Liability Exclusions

• To the maximum extent permitted by law, Acastem.com shall not be liable for any indirect, incidental, special, consequential, or punitive damages.
• Lost profits, revenue, or data.
• Business interruption.
• Personal injury or property damage.
• Cost of substitute goods or services.
• Any unauthorized access to or use of our servers.
• Any interruption or cessation of transmission to or from the Platform.
• Any bugs, viruses, or harmful code transmitted through the Platform.
• Any content or conduct of any third party on the Platform.

7.2. Liability Cap

• Our total liability shall not exceed the lesser of: the amount paid by you, if any, for accessing the Platform in the 12 months preceding the claim, or NGN 100,000.

7.3. Essential Purpose

• These limitations apply even if any remedy fails of its essential purpose.
• Some jurisdictions do not allow the exclusion of certain warranties or limitations, so some may not apply.

8. Indemnification

8.1. Indemnity

• You agree to indemnify, defend, and hold harmless Acastem.com, its officers, directors, employees, agents, licensors, and suppliers from and against all claims, losses, expenses, damages, and costs, including reasonable attorneys' fees, resulting from your use of the Platform.

8.2. Defense

• We reserve the right to assume the exclusive defense and control of any matter subject to indemnification.
• Require you to cooperate with our defense of such claims.
• Settle any matter at our discretion.

9. Termination

9.1. Termination Rights

• We reserve the right to terminate or suspend your access immediately, without notice, for any reason.
• You may terminate your account at any time by following the Platform's procedures.

9.2. Effects of Termination

• Your right to access the Platform ceases immediately.
• We may delete your content and account information.
• We may ban your IP address and prevent re-registration.
• All licenses granted by you remain in effect.
• Sections regarding content ownership, liability, and indemnification survive.

9.3. Post-Termination

• We are not liable for any loss or damage following termination.
• We are not required to maintain or provide any content.
• We may retain data as required by law or for legitimate business purposes.

10. Modifications to Terms

10.1. Changes to Terms

• We reserve the right to modify these Terms at any time.
• Changes will be effective immediately upon posting.
• We will make reasonable efforts to notify users of material changes.
• Your continued use constitutes acceptance of modified Terms.

10.2. Platform Changes

• We reserve the right to modify or discontinue any part of the Platform.
• Charge fees for Platform access or features.
• Place limits on Platform features or usage.
• Change the Platform's technical requirements.

11. Governing Law and Jurisdiction

11.1. Legal Framework

• These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
• Including but not limited to the Nigerian Communications Act, Cybercrimes Act, and other relevant legislation.

11.2. Dispute Resolution

• Any disputes shall be subject to the exclusive jurisdiction of the courts in Nigeria.
• You agree to first attempt to resolve disputes informally.
• Legal proceedings must be commenced within one year.
• Class actions and representative proceedings are prohibited.

11.3. Alternative Dispute Resolution

• Parties agree to mandatory mediation before litigation.
• Mediation shall be conducted in Nigeria.
• Costs shall be shared equally unless otherwise determined.

12. Severability and Waiver

12.1. Severability

• If any provision is found unenforceable, remaining provisions stay in effect.
• Unenforceable provisions shall be modified to reflect original intent.
• Entire agreement will not fail due to individual provisions.

12.2. Waiver

• No waiver of any Term shall be deemed a further waiver.
• Our failure to enforce any right or provision is not a waiver.
• All waivers must be in writing and signed by us.

13. Force Majeure

13.1. We are not liable for any failure or delay due to:

• Acts of God, fire, flood, earthquakes, or other natural disasters.
• War, terrorism, civil unrest, or government actions.
• Strikes, labor disputes, or shortage of resources.
• Failure or disruption of telecommunications or internet services.
• Any other event beyond our reasonable control.

14. Privacy Policy

Our Privacy Policy governs the collection, use, and disclosure of your information. By using our Platform, you consent to our collection and use of your information as described in the Privacy Policy. Please review the Privacy Policy for more details.

15. Contact Information

If you have any questions about these Terms and Conditions, or to report violations, please contact us at:

• Email: acastem@outlook.com

16. Export Control

You agree to comply with all applicable export and re-export control laws and regulations in your use of the Platform. You shall not use the Platform in violation of these laws, including without limitation, laws regarding the export of software and technology to restricted countries or regions.

17. Third-Party Links and Content

17.1. Third-Party Content

Our Platform may include links to third-party websites or services. We do not control, endorse, or take responsibility for the content, privacy policies, or practices of any third-party sites or services.

17.2. Your Interaction with Third Parties

Your interactions with third parties, including advertisers, merchants, and other users, are solely between you and the third party. We are not responsible for any transactions, agreements, or disputes arising from your interactions with third parties.

18. Acknowledgment

By using the Platform, you acknowledge that:

• You have read and understood these Terms and Conditions.
• You have the legal right, power, and authority to accept these Terms on behalf of yourself or the entity you represent.
• You are not relying on any representations or promises not set forth in these Terms.

19. Financial Terms and Payment Processing

19.1. Payment Services

We may provide payment processing services directly or through third-party payment processors. Payment processing services may include holding funds in escrow, facilitating payments, or transferring funds. You authorize us to process payments using the chosen payment method.

19.2. Payment Authorization

By initiating a payment, you authorize us to charge the chosen payment method and confirm that you have the right to use that payment method. You are responsible for any associated fees and charges, and all payment information will be securely stored.

19.3. Payment Processing Fees

We may charge fees for payment processing. All fees will be disclosed prior to the completion of the transaction. Fees may vary based on payment method, transaction volume, and regulatory requirements. Fees are non-refundable unless required by law.

19.4. Fund Holds and Security

We reserve the right to hold funds for security or compliance purposes, delay payouts for risk assessment, and require additional verification before processing large transactions. We may also set transaction limits or reverse fraudulent transactions.

19.5. Payout Terms

Payouts are subject to minimum amounts, verification requirements, and taxes. Payout schedules will be communicated clearly. Delays may occur due to security reviews, and users must provide valid banking details.

20. Financial Terms and Payment Processing

20.1. Payment Services

• We may provide payment processing services directly or through third-party payment processors.
• We may hold funds in escrow or facilitate transfers between users.
• We reserve the right to modify available payment methods.
• All payment processors used are licensed and regulated under applicable Nigerian laws.
• We comply with all Central Bank of Nigeria (CBN) regulations regarding payment processing.

20.2. Payment Authorization

• By initiating a payment, you:
• Authorize us to charge your chosen payment method.
• Confirm you have the right to use the payment method.
• Agree to have sufficient funds or credit available.
• Accept responsibility for any associated fees or charges.
• Understand that payment information will be stored securely.

20.3. Payment Processing Fees

• We may charge fees for payment processing.
• Fees will be clearly disclosed before transaction completion.
• Fees may vary based on:
• Payment method used.
• Transaction volume.
• Geographic location.
• Risk factors.
• Regulatory requirements.
• All fees are non-refundable unless required by law.

20.4. Fund Holds and Security

• We reserve the right to:
• Hold funds for security or compliance purposes.
• Delay payouts for risk assessment.
• Require additional verification before processing large transactions.
• Set transaction limits.
• Place holds on suspicious transactions.
• Reverse transactions found to be fraudulent.

20.5. Payout Terms

• For platform payouts:
• Minimum payout amounts may apply.
• Payout schedule will be clearly communicated.
• Payouts may be subject to verification requirements.
• Users must provide valid banking information.
• Users are responsible for applicable taxes.
• Payouts may be delayed for security reviews.

20.6. Refunds and Disputes

20.6.1. Refund Policy:

• Refund eligibility criteria will be clearly stated.
• Refund processing timeframes will be communicated in advance.
• Refund methods available will be disclosed.
• Some items or services may be non-refundable.
• Refunds may impact associated fees, where applicable.

20.6.2. Dispute Resolution:

• Payment disputes must be reported promptly with necessary documentation.
• Disputes must be filed within a specified timeline.
• Resolution procedures will be outlined in dispute communications.
• Chargebacks will be handled according to legal guidelines.

20.7. Currency and Exchange Rates

• All transactions are processed in Nigerian Naira (NGN).
• International transactions may incur conversion fees.
• Exchange rates are determined by our payment processors.
• We are not responsible for exchange rate fluctuations.

20.8. Financial Records

• Users must maintain accurate financial records.
• Discrepancies should be reported promptly.
• Users must provide required tax information where applicable.
• All users must comply with financial regulations as mandated.

20.9. Prohibited Financial Activities

• Users must not engage in the following activities:
• Processing transactions for illegal goods or services.
• Using the platform for money laundering.
• Engaging in fraudulent transactions.
• Submitting false financial information.
• Manipulating the payment system.
• Processing transactions for third parties without authorization.

20.10. Payment Gateway Integration

• Users integrating with third-party payment gateways must adhere to the gateway's terms of service.
• Additional verification may be required for specific transactions.
• Gateway-specific fees may apply and will be disclosed beforehand.
• Processing times and security protocols vary by gateway and must be followed.

20.11. Account Balance and Virtual Wallet

• If applicable, users must:
• Maintain a valid balance for account usage.
• Fund their wallets using approved methods.
• Comply with usage restrictions and security protocols.
• Follow transfer limitations imposed by the platform.
• Inactive accounts may be subject to specific handling procedures.

20.12. Financial Compliance

• We comply with the following regulations:
• Anti-Money Laundering (AML) regulations.
• Know Your Customer (KYC) requirements.
• Central Bank of Nigeria (CBN) payment processing regulations.
• Nigerian Financial Intelligence Unit (NFIU) guidelines.
• International financial regulations where applicable.

20.13. Financial Security

• We implement encryption and secure payment processing systems to protect financial data.
• Regular security audits are conducted to ensure compliance and data integrity.
• Fraud detection systems are employed, along with transaction monitoring and suspicious activity reporting protocols.

20.14. Payment Service Interruption

• We reserve the right to suspend or block payment services for system maintenance or security reasons.
• Modifications to available payment methods or additional verification requirements may be applied.
• Transaction volumes may be limited for high-risk users.

20.15. Financial Liability

• Users are responsible for unauthorized transactions until reported to the platform.
• Platform liability for payment errors is limited to the transaction amount.
• Users are responsible for input errors or mistakes.
• Claims related to payment issues must be filed within 30 days from the transaction date.

20.16. Payment Verification

• We may request documents such as:
• Government-issued IDs.
• Bank account verification.
• Proof of address.
• Business registration documents (if applicable).
• Tax identification numbers.
• Additional documentation may be requested on a case-by-case basis.

21. Severability of Payment Terms

21.1. Enforceability

• If any payment or financial term is found unenforceable, other terms will remain in effect.
• Unenforceable terms will be modified to align with enforceability requirements.
• Alternative payment arrangements may be required if specific terms are deemed unenforceable.