Terms of Service.

These Terms of Service (Terms) are an agreement between you and Alumni Assets Limited (RC: 9075155) (Alumni Assets, we, us). They apply to our website, web platform and mobile app (the Service). By creating an account or using the Service, you accept these Terms and our Privacy Policy. If you do not agree, please do not use the Service.

1. What the Service is

The Service lets alumni associations and similar groups (organizations) manage members, membership fees, pooled funds, governance and events. Members can contribute to funds, follow their share, receive statements, vote and buy event tickets.

Alumni Assets manages pooled fund investments under SEC File # 3211, as approved by the Securities and Exchange Commission, Nigeria. Aeonian Technology builds, hosts and maintains the Service on our behalf. Aeonian does not hold member money, give investment advice or make investment decisions.

2. Who can use the Service

• You must be 18 or older and able to enter a binding contract.
• You must give true, current and complete information, including your Tax ID where required.
• Each organization decides whether to approve your request to join it.

3. Your account

Keep your password private. You are responsible for activity on your account. Tell us at once if you think someone else has used it. We may suspend an account to protect you, other members or the Service.

4. Organizations and administrators

Each organization sets its own membership tiers, fees and rules, and is responsible for how its administrators act. Sensitive actions follow a chain of approval: one administrator creates a request, another confirms it, and an Organization Super Admin gives final approval. Some actions also need a board vote. Alumni Assets’ Platform Super Admin may stop any action at any stage to prevent error, fraud or harm.

5. Contributions and payments

• You can make one-time or recurring contributions, or pledge to pay later. A pledge is a commitment to your organization; it is not collected until you pay it.
• Payments in Naira, US dollars, Canadian dollars and/or British pounds are processed by Paystack or Flutterwave. Payments in US dollars, British pounds and Canadian dollars are processed by OMNI/Nuvei. Their own terms also apply.
• Amounts in another currency are converted using the daily exchange rate set by Alumni Assets and shown before you pay.
• A contribution counts only once the payment provider confirms it. Failed or cancelled payments are not credited.
• You can cancel a recurring contribution at any time; it stops before the next scheduled payment.
• Contributions to a fund are not refundable once credited. To take money out, follow the withdrawal process in section 8.

6. Investment risk

The value of a fund can go down as well as up, and you may get back less than you put in. Past performance does not guarantee future results. Fund values are calculated from investment and bank statements and published at the frequency set for each fund. Nothing on the Service is personal financial advice. Consider getting independent advice before you contribute.

7. Distributions and tax

• Returns are distributed to members in proportion to their share of a fund.
• Alumni Assets applies Nigerian withholding tax as the law requires and remits it to the tax authorities. Some instruments are exempt.
• If we do not have your Tax ID, distributions that need withholding tax are held until you add it.
• A small part of each distribution may be held as a tax buffer. If less tax is due than was held, the difference is returned to members. If more is due, the shortfall may be deducted from a later distribution.
• Members outside Nigeria are responsible for reporting their own income where they live.

8. Withdrawals and leaving

• Withdrawals from an organization follow the approval chain in section 4. Withdrawals above the limit set by the organization also need a majority board vote before final approval.
• You can leave an organization at any time. Your remaining entitlements are settled under the organization's rules.
• When a member or organization leaves, part of the final payout may be held back until that tax year is reconciled. The held amount is then paid out or used to settle tax due.

9. Membership tiers and fees

Organizations set their tiers (Bronze, Silver, Gold, Platinum and Diamond), the fee for each tier, and how often fees are paid. Tiers affect benefits and fees only, not voting rights. Some organizations assign tiers by portfolio value. Diamond, once reached, is kept for life. If a Diamond tier member leaves an organization, the member’s Diamond status is kept in suspense and can be reinstated as a 1-off benefit, if the member rejoins the organization. Any other subsequent exit of the organization does not suspend or reinstate the Diamond tier membership and such a member rejoining that organization will automatically be assigned the Bronze tier membership. Unpaid fees may pause your voting rights until they are cleared.

10. Voting, events and community features

• Votes are one member, one vote, and cannot be changed after you submit them. Results are recorded permanently.
• Ticket refunds follow the refund policy set by the organization running the event.
• The Honor Roll is optional. You can join or leave it at any time.

11. Fees for using the Service

Organizations determine if they want to charge membership fees for their specific organization and such fees are determined solely by them. Alumni Assets currently does not impose any platform fees, however, we can at any time in future, elect to charge fees for use of our platform, and if we do, we will give all organizations currently on our platform ample notice of the introduction of platform fees.

12. Acceptable use

You must not:

• use another person's account or give false information;
• try to access another organization's data or bypass approvals;
• use the Service for fraud, money laundering or any unlawful purpose;
• upload harmful code or interfere with the Service; or
• post content that is unlawful, abusive or infringes someone else's rights.

13. Content you share

You keep ownership of content you upload, such as documents and support messages. You allow us to store and display it as needed to run the Service for you and your organization.

14. Our intellectual property

The Service, its design and its software belong to Alumni Assets and its licensors. You may use them only to access the Service under these Terms.

15. Suspension and closure

We may suspend or close an account that breaks these Terms, or where the law or a regulator requires it. You can close your account at any time. Records we must keep by law are kept as described in the Privacy Policy.

16. Availability

We work to keep the Service available but cannot promise it will always be uninterrupted or error-free. We may update or change features, and will tell you in advance about changes that materially affect you.

17. Limitation of liability

To the extent the law allows, we are not liable for indirect or consequential losses, or for losses caused by events outside our reasonable control. Nothing in these Terms limits liability that cannot be limited by law, including for fraud.

18. Complaints

If something goes wrong, contact us first at info@alumniassets.com. We will acknowledge your complaint within 5 working days and aim to resolve it within 14 days. If you are not satisfied, you may refer the matter to the relevant regulator.

19. Governing law

These Terms are governed by the laws of the Federal Republic of Nigeria.

20. Changes to these Terms

We may update these Terms. We will tell you about important changes in advance, by email or in the app, and may ask you to accept them again. The version and effective date are shown at the top of this page.

21. Contact us

Okoi Arikpo House, 5 Idowu Taylor Street, Victoria Island, Lagos, Nigeria.

Email: info@alumniassets.com