Terms of Use

1.This agreement

These terms are the agreement between you and Finclusion Technologies Ltd (“we”) for your use of SureStocks. By creating an account you accept them. If you do not agree, do not use the service.

Some services have their own agreement in addition to these terms — a loan agreement when you borrow, and lending terms when you offer shares to lend. Where one of those says something different about that service, it prevails for that service.

2.Who can use SureStocks

• You must be 18 or over and legally able to enter a contract.
• You must give accurate information and keep it up to date.
• You must verify your identity before you trade, borrow or lend. We may ask for further checks, and may decline or close an account where checks cannot be completed.
• You may open one account, for yourself, and may not let anyone else use it.

3.Your account and security

Your SureStocks account is a Finclusion account. Keep your password to yourself, use one you do not use elsewhere, and tell us at once if you think someone else has access.

You are responsible for what is done through your account unless it resulted from our own failure. We may suspend an account to protect you or the platform, for example where we see signs of unauthorised access.

4.The services

• Portfolio. You authorise us to read your holdings from the brokerage account you link. The figures we show come from your broker and from market data; they may be delayed and are not a statement from your broker or the depository.
• Trading. Orders you place are sent to your broker for execution. An order that has been accepted has not necessarily been executed, and an executed trade is complete only when it settles. We do not hold your cash or your shares.
• Borrowing. You may apply for a loan secured on shares you pledge. See section 5.
• Securities lending. You may offer shares you hold to be lent to approved borrowers for a fee. See section 6.

We do not give investment, tax or legal advice. Nothing on SureStocks is a recommendation to buy, sell, borrow against or lend any security. Decisions are yours.

5.Borrowing against your shares

• Before you apply you are shown the amount, interest, fees and the repayment schedule. A loan is made only if we approve your application; approval is not guaranteed.
• Shares you pledge are reserved when you apply and locked at the depository if the loan is approved. While locked you cannot sell, transfer, lend or pledge them again. They are released when the loan is repaid in full.
• The amount you can borrow depends on the market value of your pledged shares, a haircut for each security, and a loan-to-value limit. All three are shown to you.
• If the value of your collateral falls so that the loan exceeds the agreed limits, we will send you a margin warning and then a margin call asking you to add collateral or repay part of the loan by a stated date.
• If a margin call is not met, or you fail to repay as agreed, we may, in line with your loan agreement and after the authorisation our procedures require, sell some or all of the pledged shares and apply the proceeds to what you owe. You remain liable for any shortfall.
• Repayments are collected on the agreed dates. You may repay early.

Borrowing against shares increases your risk: a fall in price can mean both a loss on the shares and a demand for more collateral or repayment at a bad time.

6.Lending your shares

• You choose the quantity, the lowest annual rate you will accept and the longest term. Offered shares are set aside and cannot be sold or pledged until you withdraw the offer or the shares are returned.
• Offers are matched to borrowers lowest rate first, then earliest offer first. A match is not guaranteed.
• While on loan your shares are delivered to the borrower. You may recall them at any time; the borrower then has the notice period shown when you offered them to return them.
• The fee is charged for the days the shares were actually on loan, on their market value when lent. We keep the share of the fee shown to you and pay you the rest once the borrower has paid.
• Lending carries the risk that a borrower is late returning shares or fails to return them. We approve borrowers and pursue returns, but we do not guarantee a borrower's performance unless your lending terms say so.

7.Fees

Any fee that applies — on a trade, a loan or a lending contract — is shown to you before you commit. The fee in force when you place an order or enter a contract is the one that applies to it, even if our fees change later.

8.Risk

• The value of shares can fall as well as rise, and you may get back less than you invest.
• Past performance is not a guide to the future.
• Prices shown may be delayed. A market order trades at the best available price, which can differ from the price you saw.
• Markets, brokers and the depository can be closed, suspended or unavailable, and orders may not be executed.

9.What you must not do

• Use the service for anything unlawful, including money laundering, fraud or market abuse.
• Give false information or impersonate anyone.
• Try to access another person's account or data, or probe, overload or interfere with our systems.
• Copy, scrape or resell the service or its data without our written permission.

10.Availability and third parties

We work to keep SureStocks available but do not promise that it will be uninterrupted or free of errors. The service relies on third parties — your broker, the securities depository, market data, payment and messaging providers — whose failures are outside our control. We will tell you about a problem that affects your orders, loan or shares as soon as we reasonably can.

11.Our responsibility to you

We are responsible for loss you suffer that is caused by our breach of these terms, our negligence or our fraud. We are not responsible for market losses, for the acts or failures of third parties we do not control, for events outside our reasonable control, or for losses that were not a foreseeable result of our breach.

Nothing in these terms limits liability that cannot be limited under Nigerian law, or takes away rights you have as a consumer.

12.Suspending or closing your account

You may ask us to close your account at any time once you have no open orders, outstanding loan or shares on loan. We may suspend or close an account where these terms are broken, where the law requires it, or where we cannot complete the checks we must make. Records we are required to keep are retained after closure, as our Privacy Policy explains.

13.Changes to these terms

We may change these terms. Where a change matters we will tell you in the app or by email before it takes effect. If you do not accept a change, you may close your account; continuing to use the service after it takes effect means you accept it.

14.Governing law and complaints

These terms are governed by the laws of the Federal Republic of Nigeria, and the Nigerian courts have jurisdiction.

If something has gone wrong, contact us first so that we can put it right: Finclusion Technologies Ltd (contact address to be published before these documents take effect). If you remain dissatisfied you may take your complaint to the relevant regulator.