TERMS AND CONDITIONS

CoopSolve is a Software-as-a-Service (SaaS) cooperative information management system developed and operated by Firstlincoln Technologies Limited (“Company,” “we,” “us,” or “our”). These Terms and Conditions (“Terms”) govern your access to and use of the CoopSolve mobile applications (available on Google Play Store and Apple App Store) and web platform (collectively, the “Platform”).

Effective Date: December 29, 2024 | Version 1.0 | Platforms: Mobile App (iOS & Android) and Web Platform

1. Definitions

For the purposes of these Terms, the following definitions apply:

• “Account” means a unique account created for you to access and use the Platform
• “Administrator” means an authorized representative of a Cooperative with administrative privileges
• “App” means the CoopSolve mobile application available on iOS and Android
• “Cooperative” means a registered cooperative society that subscribes to CoopSolve services
• “E-Wallet” means the electronic wallet feature provided within the Platform
• “Executive” means officers of a Cooperative with elevated access permissions
• “Member” means an individual registered as a member of a Cooperative using the Platform
• “Platform” means the CoopSolve mobile applications and web platform collectively
• “Services” means all services provided through the Platform
• “Transaction” means any financial operation conducted through the Platform
• “User” means any individual or entity accessing or using the Platform
• “VAS” means Value Added Services including airtime, data, bills payment, etc.

2. Acceptance of Terms

By downloading, installing, accessing, or using the CoopSolve Platform, you acknowledge that:

• You have read, understood, and agree to be bound by these Terms
• You agree to our Privacy Policy, which is incorporated herein by reference
• You meet the eligibility requirements to use our Services
• You have the legal capacity to enter into a binding agreement
• If acting on behalf of a Cooperative, you have authority to bind that organization

These Terms constitute a legally binding agreement between you and Firstlincoln Technologies Limited. If you do not agree to these Terms, you must immediately cease using the Platform.

3. Description of Services

CoopSolve provides a comprehensive cooperative information management system designed to simplify and automate cooperative financial operations including:

• Savings Management: Deposits, withdrawals, interest calculations
• Loan Management: Applications, approvals, disbursement, repayments
• E-Wallet: Digital wallet for transactions
• E-Payment: Online payment processing
• Membership: Member registration and management
• Reports: Financial and operational reporting
• VAS Services: Airtime, data, bill payments
• Sales Module: Point of sale and inventory

3.1 Service Availability

We strive to maintain Platform availability 24/7, but do not guarantee uninterrupted access. The Platform may be temporarily unavailable due to scheduled maintenance, emergency repairs, circumstances beyond our reasonable control, or third-party service provider issues.

3.2 Service Modifications

We reserve the right to modify, suspend, or discontinue any aspect of the Services at any time, with reasonable notice where practicable.

4. Eligibility

4.1 Individual Users

To use CoopSolve, you must:

• Be at least 18 years of age
• Have legal capacity to enter into binding contracts under Nigerian law
• Be a registered member of a Cooperative using CoopSolve, OR be an authorized administrator or executive
• Possess a valid Bank Verification Number (BVN) for financial services
• Have valid means of identification (NIN, Passport, Driver’s License, or Voter’s Card)

4.2 Cooperative Organizations

• Be duly registered with relevant Nigerian authorities
• Have valid Certificate of Registration
• Maintain proper governance structure
• Designate authorized administrators for Platform management
• Execute a service agreement with Firstlincoln Technologies Limited

By using the Platform, you represent and warrant that you meet all eligibility requirements and that all information you provide is accurate and truthful.

5. Account Registration & Security

To access Platform features, you must create an account by providing accurate information. You are responsible for maintaining the confidentiality of your login credentials, creating strong passwords and PINs, enabling security features (MFA, biometric login), not sharing credentials, reporting unauthorized access immediately, and all activities under your account.

We may require verification of your identity including BVN verification, NIN validation, and other KYC processes as mandated by Nigerian regulations.

6. Financial Services

Through the Platform, you can access savings services, loan services, e-wallet operations, and VAS transactions. All transactions are processed in Nigerian Naira (NGN). Interest rates are determined by individual Cooperatives. We do not guarantee any specific returns. Transaction limits may apply as set by Cooperative or regulations.

7. E-Wallet Services

The CoopSolve E-Wallet enables you to store funds electronically, fund your wallet, make payments and transfers, pay for VAS, and transfer to cooperative savings. Transaction and balance limits apply based on your KYC tier. Wallets inactive for 12 months may be flagged as dormant. E-wallet services are provided in partnership with 9 Payment Service Bank (9PSB) and other licensed financial institutions.

8. Loan Services

Members may apply for loans subject to Cooperative eligibility criteria. Specific loan terms are determined by your Cooperative. By accepting a loan, you agree to repay as scheduled, authorize automatic deductions where applicable, and accept penalties for late payments. Defaulted loans may be reported to credit bureaus.

9. Value Added Services (VAS)

The Platform offers VAS including airtime purchase, data bundles, and bill payments. VAS transactions are processed in real-time where possible. Prices are subject to change. Failed transactions will be reversed within 24-72 hours. VAS purchases are generally non-refundable once successfully delivered.

10. Fees and Charges

Certain services may attract fees including subscription fees (paid by Cooperative), e-wallet funding fees, transfer fees (₦10 – ₦50), VAS transaction fees, and loan processing fees. Third-party fees may also apply. We reserve the right to modify fees with reasonable notice.

11. Prohibited Activities

The following activities are strictly prohibited:

• Money laundering or terrorist financing
• Fraud, identity theft, or impersonation
• Use of stolen cards or unauthorized payment methods
• Unauthorized access to accounts or systems
• Introducing malware or harmful code
• Providing false or misleading information
• Violating any applicable Nigerian laws or regulations

12. Intellectual Property

The CoopSolve Platform, including all software, designs, logos, trademarks, content, and documentation, is the exclusive property of Firstlincoln Technologies Limited and is protected by Nigerian and international intellectual property laws. We grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Platform for its intended purposes. You may not copy, modify, distribute, reverse engineer, or use our trademarks without written permission.

13. Data Protection

Your privacy is important to us. Our collection, use, and protection of your personal data is governed by our Privacy Policy. We comply with the Nigeria Data Protection Regulation (NDPR) and Nigeria Data Protection Act (NDPA). Personal and financial data is encrypted and securely stored. We do not sell your personal information to third parties. By using the Platform, you consent to data processing as described in our Privacy Policy.

14. Third-Party Services

The Platform integrates with third-party services including payment processors (9PSB, Paystack, Flutterwave, banks), verification services (NIBSS, NIMC), VAS providers, and cloud services. Your use of third-party services may be subject to their terms and conditions. We are not responsible for third-party service availability, quality, or policies.

15. Disclaimers

THE PLATFORM AND SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED.

Firstlincoln Technologies Limited is a technology service provider, not a bank, microfinance bank, or licensed financial institution. We do not hold deposits, guarantee funds, provide investment advice, or assume liability for Cooperative financial decisions.

16. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY NIGERIAN LAW, FIRSTLINCOLN TECHNOLOGIES LIMITED SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES. OUR TOTAL LIABILITY SHALL NOT EXCEED THE FEES PAID BY YOU IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM, OR TEN THOUSAND NAIRA (₦10,000), WHICHEVER IS GREATER.

17. Indemnification

You agree to indemnify, defend, and hold harmless Firstlincoln Technologies Limited from and against all claims, liabilities, damages, losses, costs, and expenses arising from your use of the Platform, your violation of these Terms, your violation of any applicable laws, your violation of any rights of third parties, any fraud or misconduct by you, or your failure to fulfill loan or financial obligations.

18. Termination

You may terminate your account by contacting your Cooperative administrator or our support team. We may suspend or terminate your access immediately for violation of these Terms, suspected fraud or illegal activity, failure to complete required verification, request by law enforcement, or extended inactivity. Upon termination, your access will cease, outstanding obligations remain payable, and we may retain data as required by law.

19. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. You agree to submit to the exclusive jurisdiction of the courts located in Lagos State, Nigeria. For disputes, first contact our customer support. Unresolved disputes may be submitted to arbitration in Lagos, Nigeria. You agree to resolve disputes on an individual basis and waive any right to participate in class action lawsuits.

20. Changes to Terms

We reserve the right to modify these Terms at any time. When we make material changes, we will update the “Effective Date,” notify you via email, in-app notification, or Platform announcement, and for significant changes may require acknowledgment. Your continued use after changes constitutes acceptance of the modified Terms.

21. General Provisions

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Firstlincoln Technologies Limited. If any provision is found invalid, the remaining provisions shall continue in full force. Our failure to enforce any right shall not constitute a waiver. You may not assign your rights without our consent. We shall not be liable for delays due to circumstances beyond our reasonable control (force majeure). These Terms are provided in English, which shall prevail over any translation.

These Terms and Conditions were last updated on December 29, 2024. © 2024 Firstlincoln Technologies Limited. All Rights Reserved.