Terms of Use, Cookie Policy & Covenants

To register an account or execute any financing contract on GetEquip, you must be at least 18 years of age and possess full legal capacity under the laws of the Federal Republic of Nigeria. You agree to provide accurate, current, and complete identity details during the NIN/BVN KYC verification process. Misrepresentation of identity, income, or employment status constitutes a material breach of contract and may result in immediate account termination and legal proceedings.

All equipment financing facilities extended through GetEquip operate under strict lease-to-own or Buy Now Pay Later (BNPL) structures. A. NON-REFUNDABLE APPLICATION FEE REQUIREMENT To submit an application for product finance or lease, lessees must pay an Application Fee via Paystack before proceeding to application submission: • ₦250,000 for product finance amounts of ₦500,000,000 and above; • ₦100,000 for product finance amounts of ₦100,000,000 to ₦499,999,999; • ₦30,000 for product finance amounts of ₦50,000,000 to ₦99,999,999; • ₦10,000 for product finance amounts of ₦5,000,000 to ₦49,999,999; • ₦5,000 for product finance amounts of ₦0 to ₦4,999,999. Notice: Application fees cover identity verification, credit risk underwriting, and ELRA registry checks, and are strictly NON-REFUNDABLE once paid. B. PAYMENT GATEWAY FEE All product finance transactions processed via tokenized payment gateways incur a Payment Gateway Fee of 1% of the payment valuation or ₦50,000 (whichever amount is higher), which is charged to the user. C. CATEGORY ADMINISTRATIVE CHARGES (NON-REFUNDABLE) Upon application approval by Platform Underwriters, lessees must pay the initial down payment alongside category-specific administrative charges upfront as part of the first payment before asset release. Administrative charges include: • Insurance Fee: Amount (₦) or Percentage (%) of product valuation set per category; • Legal Fee: Legal documentation and covenant drafting fee; • Processing Fee: Administrative underwriting and credit assessment fee; • Car / Equipment Tracking Fee: GPS tracking hardware & installation charge (applicable to vehicle & heavy machinery categories). Notice: All administrative charges paid upfront are strictly NON-REFUNDABLE. You agree to maintain the asset in good operating condition and permit automated GPS tracking and remote smart lock security until full repayment is completed.

Participation in GetEquip Live Auctions is binding. Bids placed via the preset percentage toggle buttons (+5%, +10%, +20%, +40%) are irrevocable once submitted. Bidding rules strictly enforce that: (a) Bid amounts can only increase; (b) A bidder holding the current highest bid cannot place consecutive bids unless outbid by another user or until 12 hours have elapsed; (c) The winning bidder at auction close is legally obligated to either complete payment or submit a lease financing application within 48 hours.

Repayments are processed automatically via tokenized card auto-debit or NIBSS direct debit protocols on your chosen schedule (daily, weekly, or monthly). A grace period of 3 business days is granted for failed auto-debits. If an account remains overdue past 14 days, GetEquip reserves the right to activate remote asset immobilisation (smart lock) and initiate physical recovery procedures through accredited asset recovery agents.

Until all contractual principal, interest, and administrative obligations are satisfied in full, legal title to the equipment remains vested with GetEquip or its designated funding partner. Beneficial possession remains with the lessee. Upon clearance of the final instalment, GetEquip issues an automated legal Certificate of Ownership and officially transfers unencumbered title to the lessee.

Group Savings Pools enable syndicate buyers, trade associations, and co-operative members to pool capital towards commercial equipment financing under strict legal covenants: (a) Monthly Member Contribution: Group Admins define fixed monthly contribution schedules per seat; (b) 20% Early Exit Forfeiture Penalty: Any member who exits a group pool prior to reaching the target savings threshold automatically forfeits twenty percent (20%) of their cumulative contributed balance, which is permanently retained in the group pool wallet to protect remaining co-op members. The remaining eighty percent (80%) is refunded to the member's wallet; (c) Qualification Threshold & 50% Pool Balance Rule: Members qualify to apply for group asset financing only after reaching their individual savings threshold (e.g. 50%). Furthermore, the total group pool balance must equal at least 50% of the requested equipment cash price before any member application can be processed; (d) Application Cap: Asset financing applications are limited to a maximum of one (1) member per calendar month per group pool; (e) Dual Approval Workflow: Every group financing application must be approved first by the designated Group Admin and secondly by GetEquip Platform Underwriters before merchant equipment release.

GetEquip provides an integrated Escrow Payment Protection service to safeguard buyer capital and ensure verified vendor performance across all commercial equipment transactions. A. ESCROW PROTECTION & 0.5% (MIN ₦25,000) BUYER FEE • Optional & Recommended Escrow Selection: Buyers can opt for Escrow Payment Protection during checkout for outright equipment purchases, financing down payments, or live auction wins. • 0.5% (Min ₦25,000) Escrow Protection Fee: An Escrow Protection Fee of 0.5% of the base transaction amount or ₦25,000 (whichever amount is higher) is charged to the buyer at checkout to cover administrative escrow management, quality verification insurance, and dispute arbitration. • Secure Vault Holding: All escrow payments are deposited directly into a segregated bank vault account managed by GetEquip and licensed financial trustees. Funds are strictly isolated from merchant operating accounts until delivery and inspection covenants are satisfied. B. 7-DAY HOLDING WINDOW & MERCHANT PAYOUT ELIGIBILITY • Mandatory 7-Day Holding Window: Money deposited into escrow is held for a mandatory minimum period of seven (7) calendar days (168 hours) from the transaction creation date. • Merchant Payout Release Conditions: Funds held in escrow will be released and made available for merchant withdrawal ONLY upon: 1. Manual Admin Approval: GetEquip Risk Underwriters verify equipment delivery and manually approve the release of funds to the merchant's available wallet balance; OR 2. 7-Day Expiry Auto-Release: Seven (7) calendar days (168 hours) elapse from the transaction date without a formal buyer dispute or return request being filed. C. BUYER DISPUTES, 7TH-DAY CLAIM DEADLINE & REFUND MECHANISM • Mandatory 7th-Day Dispute Deadline: All returns, claims, or dispute requests MUST be officially submitted before the 7th calendar day (168 hours) from the transaction creation date. Because escrow funds are automatically released to the merchant after 7 days (or upon delivery confirmation), no claims or refund requests will be accepted after the 7th day. • Dispute Freezing: If a buyer files a dispute or return request within the 7-day window (e.g. for non-delivery or asset defect), the escrow hold is frozen immediately. • Refund Payout: Admin Underwriters investigate the claim. If approved, funds held in escrow are refunded to the buyer's wallet or original payment source.

GetEquip Buyer Protection safeguards all commercial equipment transactions executed via platform Escrow and Paystack payment gateways. A. WHAT GETEQUIP BUYER PROTECTION COVERS: • 100% Capital Vault Escrow: Funds are safely held in a CBN licensed bank vault for 7 days (168 hours) until delivery & inspection verification. • Equipment Quality & Spec Match: If delivered machinery or vehicle has major engine defects, structural damage, or non-matching specs, funds are frozen immediately. • Arbitration & Refund Guarantee: Full money-back refund to the buyer if vendor defaults or delivers non-compliant equipment within the 7-day claim window.

These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. GetEquip complies strictly with Central Bank of Nigeria (CBN) lending guidelines, Nigeria Data Protection Act (NDPA), and Anti-Money Laundering (AML/CFT) laws. Any disputes arising under these Terms shall first be submitted to good-faith mediation prior to formal arbitration.

GetEquip uses cookies, HTML5 local storage, session storage, and client-side data caching to authenticate account access, preserve active financing application drafts, secure live equipment auction bids, and speed up page load speeds across devices. A. WHAT WE DO WITH COOKIES & LOCAL DATA • Session & Authentication Management: We store tokenized authorization credentials (such as 'getequip_user') so you remain securely logged in across pages without requiring repeated logins. • Application & Financing Progress Caching: Unsubmitted BNPL financing applications, lease repayment calculations, and vendor upload drafts are saved locally in your browser to safeguard your work against accidental network drops. • Preference Persistence: User display preferences, currency selections, workspace contexts, and active search filter filters are retained locally for seamless usability. • Security & Anti-Fraud Telemetry: We maintain encrypted device session hashes to prevent unauthorized account hijacking, fraudulent bidding, and automated scrapers. B. TYPES OF DATA SAVED ON YOUR DEVICE OR ACCOUNT 1. Essential Session Cookies & Tokens: Encrypted token identifiers required for secure account navigation and Paystack auto-debit authorizations. 2. Local Storage Application Cache: Browser local storage entries maintaining active BNPL draft forms, saved equipment bookmarks, and calculation state. 3. Functional Preference Cookies: User choices such as dark/light UI mode, selected business categories, and cookie consent choices ('getequip_cookie_consent'). 4. Anonymized Performance Metrics: Diagnostic telemetry regarding page load times and error logs (ISO 27001 & NDPA compliant). C. WHY THIS DATA IS SAVED • Bank-Grade Fraud Security: To verify that live auction bids and auto-debit authorizations originate from genuine, authenticated user devices. • Ultra-Fast Platform Performance: Instant rendering of complex equipment catalogs, auction timers, and calculators by fetching static assets from local cache. • Frictionless User Experience: Eliminating repetitive data re-entry when completing multi-step identity verification (NIN/BVN) or applying for equipment financing. D. MANAGING & CLEARING COOKIES You have the right to accept, decline non-essential storage, or clear your stored cookies and local browser cache at any time via your browser settings. Please note that clearing essential authentication cookies will log you out of GetEquip and may require re-authentication to participate in live auctions.