Terms of Use

Terms and Condition

Last updated: June 9,2016

Please read these Terms and Conditions carefully before using the https://lockmycash.com website managed by Prime Centroid Limited, Lagos, Nigeria.

Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service. By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service.

• Who we are
  LockMyCash (“we”, “us” or “our”) provides a platform that protects buyers and sellers from fraud during transactions by ensuring that buyers get the items/services ordered and seller gets paid for goods sold or service rendered. You understand and agree that LockMyCash is not a financial institution.
• Eligibility
  To be eligible to use the LockMyCash Services, you must be at least 18 years old or higher based on the age of majority in your jurisdiction.
• Information
  In order to open and maintain an Account, you must provide us with correct and updated Information which may include your full name, company name, telephone number, email address etc.
• Contact information
  It is your responsibility to keep your primary email address up to date so that LockMyCash can communicate with you electronically. You understand and agree that if LockMyCash sends you an electronic Communication but you do not receive it because your primary email address on record is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, LockMyCash will be deemed to have provided the Communication to you effectively.
• Identity Verification
  You authorize LockMyCash, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information or documentation, requiring you to take steps to confirm ownership of your email address or financial instruments, report or verifying your Information against third party databases or through other sources.
• Prohibited Transactions
  Users shall not utilize the Site or the Services in connection with any Transaction that is illegal, involves any illegal items, or is for any illegal purpose; In addition, LockMyCash, in its sole discretion, may refuse to complete any Transaction that we have reason to believe is unauthorized or made by someone other than you, may violate any law, rule or regulation, or if we have reasonable cause not to honor it. Each User agrees to indemnify and hold LockMyCash harmless for losses resulting from any use or attempted use of the Services in violation of this Agreement.
• Governing Law
  These Terms of Use governing the use of our Site or Services shall be governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria.
• Payment
  We will follow accepted business procedures to facilitate Transactions. We are NOT responsible for any delays in delivery or payments for Transactions due to postal time, banking service time, errors in transmission, or errors in information provided to us by Users. Since the use of a bank account, credit card or debit card account, or the making of an electronic fund transfer, may be limited by your agreement with your financial institution and/or by applicable law, we are not liable to any User if we do not complete a Transaction as a result of any such limit, or if a financial institution fails to honor any credit or debit to or from an Account. We may post operating rules related to payment on the Site and change such rules from time to time.
• Security
  We use industry standard SSL(Secure Sockets Layer) and TLS(Transport Layer Security) cryptographic protocol to securely encrypt all data transmitted on/via our platform to ensure that the data you provide us is not transmitted over the Internet unencrypted and cannot be viewed by unauthorized individuals. We have also implemented a security system requiring a user email and a password to access your transactions on the Site. You agree not to give your password to any other person or entity and to protect it from being used or discovered by anyone else.
• Indemnification
  You agree to indemnify and hold LockMyCash, LockMyCash affiliates and their respective officers, directors, shareholders, employees and assigns, harmless from any claim, demand, expense or damage, including reasonable attorneys' fees and court costs, arising from or relating to your use of the Services or any violation of this Agreement, the rules contained on the Site, transaction terms including, without limitation, payment of LockMyCash fees and any charge backs from a card organization or reversal or nonpayment of any credit or debit entry.
• Service Termination
  LockMyCash may suspend or terminate your use of the Services at any time, without notice for any reason, LockMyCash’s sole discretion. Except as warranted by risk to the security, privacy or integrity of the Services, LockMyCash will attempt to provide you with prior notice of the suspension or termination of the Services by sending you an e-mail, but LockMyCash is not obligated to do so. You shall remain liable for all Transactions you initiate through the Services prior to such termination, and the performance of your obligations, including but not limited to, the delivery of the items and the payment of all amounts you owe prior to termination or discontinuation of your use of the Services. You agree to pay all costs and expenses (including reasonable attorneys' fees) that LockMyCash may incur in order to (a) collect any amounts you owe under this Agreement, or the transaction terms or (b) to initiate an arbitration or judicial proceeding to resolve a dispute between Buyer and Seller, as set forth in the transaction terms.
• Limitation of Liability and Damages
  TO THE EXTENT PERMITTED BY APPLICABLE LAW, NEITHER LOCKMYCASH NOR ITS AFFILIATES, SHALL BE LIABLE FOR ANY LOST PROFITS, LOSS OF DATA, OR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES ARISING OUT OF, IN CONNECTION WITH, OR RELATING TO THIS AGREEMENT OR THE SERVICES, INCLUDING WITHOUT LIMITATION THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE LOCKMYCASH SERVICES. UNDER NO CIRCUMSTANCES WILL ANY OF THE DISCLAIMING ENTITIES BE RESPONSIBLE FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICE OR YOUR LOCKMYCASH ACCOUNT OR THE INFORMATION CONTAINED THEREIN, OR YOUR FAILURE TO USE OR IMPLEMENT SECURITY CONTROLS THAT ARE APPROPRIATE FOR YOUR BUSINESS.
• Payment
  Payments are made in Nigerian Naira. Your name as registered must match your bank account name for money to be transferred.
• Fees
  Either Buyer or Seller or both agrees to pay/share the fees for the Services that are disclosed on the Site at the time the completed transaction terms are agreed to by all such Users, as well as any other fees, including, without limitation, third party service fees (e.g., shipping, inspection, etc.). LockMyCash fees may change from time to time in LockMyCash's absolute and sole discretion. LockMyCash is not responsible for payment of any sales, use, personal property or other governmental tax or levy imposed on any items purchased or sold through the Services or otherwise arising from the transaction.
• Indemnification
  You agree to defend, indemnify and hold LockMyCash, Affiliates, and our officers, directors, agents, joint ventures, employees and suppliers harmless from any claim, demand (including attorneys’ fees), fine, or other liability incurred by any third party due to or arising out of your or your employees’ or agents’ breach of this Agreement and/or use of the LockMyCash Services.
• Site Terms of Use Modifications
  LockMyCash may revise these terms of use for its web site at any time without notice. By using this web site you are agreeing to be bound by the then current version of these Terms and Conditions of Use.
• Canceling a Transaction
  If a Transaction cannot be completed for any reason, including cancellation by LockMyCash for any reason, LockMyCash will notify each User in such Transaction by e-mail, to the e-mail address each has provided to LockMyCash. In LockMyCash's sole discretion, LockMyCash may cancel any Transaction if each User to a Transaction fails to agree on the terms as required in the Transaction Details Screens by clicking the "Agree" button as requested on the Site. You may cancel a Transaction as provided in this Agreement, or in the transaction terms.
• Seller Obligation
  Sellers shall deliver the items set forth in transaction terms directly to the Buyer at the address specified by such, within the transaction period as specified in the transaction terms and on the other terms and conditions set forth in the transaction terms. Seller shall use a delivery service that provides a confirmation of delivery. Seller gives LockMyCash permission to act as its agent in communicating with the shipping company regarding the notice of the delivery of the goods. In the event LockMyCash does not receive notice of shipment from Seller within the transaction period as specified in the transaction terms, Seller authorizes LockMyCash to return the escrowed funds to Buyer.
• Buyer Obligations
  Buyer may remit the necessary funds via various methods available on LockMyCash website, which may include credit card, debit card or bank transfer. Buyer authorizes LockMyCash to initiate credit or debit transactions, as applicable, to obtain the purchase price and fees due for a transaction and to initiate any debit or credit entries or reversals, as the case may be, as may be necessary to correct any error in a payment or transfer and to discharge Buyer's obligations. Buyer shall notify LockMyCash of the receipt or non-receipt of the items on the date the items are received. Buyer shall notify LockMyCash of the Buyer's acceptance or rejection of the items before the Buyer's Inspection Period expires. Upon receipt of notice from Buyer that the items have been received and accepted, LockMyCash shall transfer the payment amount to Seller's Account. Transfer to a Seller generally will be initiated within the next business day from the day on which notice of acceptance of the items is received from the Buyer. If Buyer has not notified LockMyCash of the non-receipt or rejection of the items during the Buyer's Inspection Period, then Buyer authorizes LockMyCash to remit the escrowed funds to the Seller.

If you have any questions about these terms, please contact us via info@lockmycash.com