Propco’s Terms and Conditions

Propco Solutions Limited is a private limited liability company incorporated in the Federal Republic of Nigeria with RC1822767. It offers fractional investment opportunities in Real Estate for its clients not limited to the members of Propco (Ikoyi) Cooperative Multipurpose Society Limited, a cooperative duly licensed under the Cooperative Society Laws of Lagos State with Registration No 18231 (“Propco”, “we”, “our” or “us”) operates www.mypropco.com and the Propco Web Application (“Platform”) with these Terms and Conditions (“Terms”) govern the access to use this platform.

By using our Services, you agree to be bound by these Terms, the Privacy Policy, and all other operating rules, bylaws, policies, and procedures that may be published by us from time to time on this platform, each of which is incorporated by reference into these Terms. References in these Terms and Conditions to “you” or such similar descriptions) are references to you as an individual or legal entity as the case may be.

1. User Requirement

• The services offered on this platform are available to individuals who are at least eighteen (18) years old. However, through the Cooperative Society, we may allow minors, through their guarding to use our services.
• You warrant that you are at least 18 years old or have attained legal age in your jurisdiction that you are fully able and competent to enter a legally binding agreement with Propco, and that all registration information you submit is accurate.
• You agree to provide accurate data for account registration which will contain user information as may be prompted on the platform. You also agree to keep all data up to date at all times.
• All information shared between the user and the platform including identification code, password or other information on security procedures, you agree that you treat the information as confidential and not to disclose it to any third party. Furthermore, you agree that once granted access to the platform, such access right is not transferable to any other person.
• You agree to comply with the local laws regarding online conduct and acceptable content published on this platform. You are responsible for all applicable taxes payable as a result of your activity on this platform.

2. Property Co-ownership Terms

• You agree that by co-owning any landed properties presented on this platform, you agree to the terms of ownership attached to each property. You also agree that your Principal amount invested will be unavailable to you for a duration of time regarded as the “lock-in” period. At the end of the lock-in period, you can choose to redeem the initial Principal investment sum and the interest (rent) that has been earned on the property. You can choose to roll over your initial capital and renew the chosen plan for another lock-in period.
• You shall receive from us a certificate of purchase confirming your interest as a co-owner of the asset you have chosen to subscribe to. This certificate shall be issued within fifteen (15) business days of your subscription. This certificate will outline the details of the co-ownership opportunity, your share, and your expected rent.
• Periodic updates will be issued to you by the email address provided in your registration form. These updates will also be accessible on your dashboard on the platform.
• You acknowledge that you do not exclusively own any of the properties contained in your Propco portfolio. You are only entitled to the proportionate share of the rental income corresponding to your share of the property you subscribed to. This will be carried out according to the terms of your certificate of purchase.

3. Management Fee

Propco will charge its members a management fee of 1% of the cost of the property transaction on this platform. We may also charge additional fees which vary from time to time. Please note that Propco will not be responsible for any levies, taxes, charges, governmental or otherwise in respect of this platform

4. Platform Access

• You will enjoy access to our platform at no cost. However, we cannot guarantee that access will always be available or uninterrupted.
• There are certain instances where access to the platform will be barred. This includes:
• When you violate the provisions of these Terms and Conditions or when you provide inaccurate registration data. In this case, your access to the platform will be suspended, withdrawn or discontinued.
• You will be notified when we carry out routine maintenance or push an update/upgrade to the platform.

5. Foreign Exchange:

• You agree that when you opt to purchase in any currency other than the Naira currency, the foreign exchange gain or loss and currency rate fluctuations may not impact the profit on your subscribed property.

6. Limitation of Liability:

• to the full extent permissible by law, in no event shall Propco, and its sister/subsidiary companies (if any), affiliates, agents and directors, be liable under contract, tort, strict liability, negligence, agency relationship, or any other legal or equitable theory with respect to any of the following:
  • Any liability for any direct, indirect or consequential loss or damage incurred by any member in connection with our platform or in connection with the use, inability to use, or results of the use of our platform, any website linked to it and any materials or content posted on it, including, without limitation to any liability for loss of income or revenue; loss of business; loss of profits or contracts; loss of anticipated savings/returns; loss of data; loss of goodwill; wasted management or office time; and any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.
  • Any bugs, viruses, trojan horses or the like (regardless of the source of origination).
  • You hereby release Propco and affiliate entities from all claims, demands and damages of every kind, including, without limitation to, actual, special, incidental and consequential, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with your use of the Services on our platform. You waive the provisions of any state or local law limiting or prohibiting a general release.
  • Without prejudice to the above, you agree that your sole and exclusive remedy is to cease using the Platform. Under no circumstances shall Propco, their subsidiaries, officers, directors, agents or employees be liable in any way for your use of Services, including, but not limited to, any errors or omissions in the Platform, downtime, any infringement by the Platform of the intellectual property rights or other rights of third parties, or for any loss or damage of any kind incurred as a result of the use of Services.

7. Disclaimer:

7.1.              It is important to note that your subscription to any of our projects and your use of our services are at your sole risk, as the services on the Platform are provided to you on an “AS IS” and “AS AVAILABLE” basis. You therefore agree to evaluate, seek independent advice, and bear all risks associated with the use of this Platform. Nothing on the Platform should be deemed to constitute a recommendation to purchase, sell, or hold, or otherwise to constitute advice regarding, any investment, secured or otherwise.

7.2               We may from time to time refer to existing brands or companies for marketing purposes on this site and except we have explicitly stated that the brand or company is affiliated with us or that we have a contractual relationship with them, we expressly disclaim any relationship with any such brand or company.

7.3               We are not a registered broker-dealer, investment advisor or crowdfunding portal and we do not engage in any conduct that would require registration with the Securities and Exchange Commission or the Nigerian Stock Exchange.

8. Third-Party Websites and Links to our Services:
   
   
   • We may permit you to link to other websites or resources on the Internet, and other websites or resources may contain links to our Services. When you access third-party websites, you will be leavingmypropco.com and you do so at your own risk. Those other websites are not under our control, and you acknowledge that we will not be liable for the content, functions, accuracy, legality, appropriateness, or any other aspect of those other websites or resources.
   • We grant you a limited, non-exclusive, revocable, non-assignable, personal, and non-transferable license to create hyperlinks to the Services on our Platform, so long as (a) the links only incorporate text and do not use any of our Trademark; (b) the links and the content on your website do not suggest any affiliation with Propco or cause any other confusion; and (c) the links and the content on your website do not portray mypropco.com or its services in a false, misleading, derogatory, or otherwise offensive manner, and do not contain content that is unlawful, offensive, obscene, filthy, violent, threatening, harassing, or abusive, or that violate any right of any third party or are otherwise objectionable to us. We reserve the right to suspend or prohibit linking to our Services for any reason, in our sole discretion, without advance notice or any liability of any kind to you or any third party. Including any link to our Services on another website does not imply endorsement by or affiliation with us. You further acknowledge and agree that we shall not be liable for any damage related to the use of any content, goods, or services available through any third-party website or resource.

9. Intellectual Property Rights

• Except for the rights expressly granted under these Terms and Conditions: All content included on this Platform, including but not limited to text, graphics, logos, images, audio clips, digital downloads, and software, are all properties of Propco, our licensors and/or certain other third parties, where stated. As the case may be, we or our licensors retain all the rights, titles, and interests in and to the contents displayed on this Platform, including, without limitation to, all Intellectual Property Rights therein.
• You agree that you have no right to use any of our trademarks without our prior written consent.
• All rights not expressly granted to you in these Terms and Conditions are reserved and retained by us or our licensors.

10. Indemnification

• You agree to indemnify, hold harmless, and defend us, their parent/subsidiaries, and licensors, and each of their respective officers, owners, directors, shareholders, contractors, agents, employees, general and limited partners, successors, and assigns from and against any and all demands, claims, damages, liabilities, judgments, fines, interest, penalties, losses, costs, expenses, and harms, including without limitation to reasonable attorney’s fees and fees of other professional advisers, arising out of or in connection with: Your use of the Services on our Platform. Your online conduct in connection with the Services. Your (or anyone acting under your password or username) violation or breach of these Terms; Your failure to comply with any applicable laws or regulations in connection with the Services; or any of your dealings or transactions from use of the Services.

• You shall not settle any such claim without our prior written consent.

• These obligations will survive any termination of these Terms.

11. Governing Law

• The contract between us shall be governed by and interpreted in accordance with the Laws of the Federal Republic of Nigeria.

12. Severability 

• If any provision of these Terms and Conditions is determined by any Court of Competent jurisdiction to be invalid, illegal or unenforceable, that provision will be severed from these Terms and Conditions and the remaining provisions will continue in full force and effect, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either of the parties.

‍

13. Amendment

• These Terms cannot be modified, varied, amended or supplemented in any way by you. We reserve the right to modify, vary, amend or supplement these Terms and Conditions at any time and from time to time. We will post the current version of these Terms on this Platform or send the same to you via your email address and each such change will be effective upon posting on this Platform or upon the date designated by us as the “effective date” (if any). Your continued use of the Services following any such change constitutes your agreement to be bound by and your acceptance of these Terms and Conditions as so modified.

14. Waiver

• Any waiver by us of any of the provisions of these Terms will not constitute a waiver of any other provision (whether similar or not), nor will any such waiver constitute a continuing waiver of that particular provision unless expressly provided by us in writing.

• User Feedback

• If you have trouble using our Platform with certain browsers or other software if you want to let us know how we can improve accessibility or if you have any questions or comments, please let us know by getting in touch with us via our email at hello@mypropco.com. We appreciate your feedback as your suggestions can help us improve our service.

• In the event that you provide us with feedback, insights, and suggestions, you agree that we will own and have a royalty-free right to exploit any such feedback, suggestions, and insights provided by you concerning the functionality, features, and performance of the Platform, as well as any ideas that you share with us on how to make our platform better, including without limitation to the identification of errors or bugs or any suggested fixes or workarounds, improvements, modifications, or enhancements (“User Feedback”). Furthermore, you agree that the provision of any User Feedback by you will be gratuitous, non-confidential, unrestricted, and made without any right to receive any compensation in return.