Terms and Conditions

Preamble and Legal Status

These Terms and Conditions (“Terms”, “Agreement”) govern your use of Hovmart Technologies Limited (“Hovmart”, “we”, “us”) and the Platform. By accessing or using the Platform, you agree to be bound by these Terms, Privacy Policy, KYC Framework, AML/CFT Compliance Charter, and supplemental terms. If acting on behalf of an entity, you warrant authority to bind that entity.

Company Overview and Platform Description

Hovmart Technologies Limited is a PropTech company digitizing property transactions. The Platform enables:

• Short-term rentals of homes and serviced apartments
• Long-term residential and commercial leases
• Property sales, co-ownership, and title acquisition
• Verified agent, developer, and vendor listings
• Data analytics, valuation insights, and virtual tours
• Ancillary services including escrow, legal advisory, and facility management

Definitions

• Account: A registered profile on the Platform.
• Agent: Estate agent, broker, or property intermediary.
• Assignee/Buyer: User acquiring rights to property.
• Assignor/Seller: Property owner or lessor listing on the Platform.
• KYC: Know Your Customer verification process.
• AML/CFT: Anti-Money Laundering/Counter Financing of Terrorism regulations.
• DNFBP: Designated Non-Financial Businesses and Professions.
• Service(s): All digital and facilitation services via the Platform.
• User: Any individual or entity using the Platform.

User Eligibility and Account Creation

• Users must be at least 18 years and legally competent.
• Corporate users must provide incorporation documents and authorized signatories.
• Accounts may be rejected or terminated for failed KYC, false information, or compliance risks.

Know Your Customer (KYC) and AML Compliance

Hovmart conducts KYC and AML checks in line with Nigerian law, including transaction monitoring, EDD, and reporting STRs and CTRs to the NFIU. Users consent to data collection, retention, and lawful disclosure for compliance purposes.

Platform Functionality and User Responsibilities

• Users must provide accurate and legal property listings and documents.
• Maintain confidentiality of login credentials.
• Ensure content does not infringe third-party rights.
• Hovmart may suspend or remove accounts or listings violating the Terms.

Property Listings and Transaction Terms

• Listings must be accurate, verified, and include legal documents.
• Transactions subject to escrow and verification charges.
• Hovmart acts as escrow intermediary; funds are released upon contract fulfillment.

Payments, Escrow, and Financial Obligations

• Payments must come from verified financial institutions.
• Hovmart may freeze or reverse payments for suspected fraud.
• Refunds follow the Platform’s Refund and Escrow Policy.

Intellectual Property and Technology Use

• Platform software, trademarks, and designs are proprietary.
• Limited license granted solely for lawful property transactions.
• Prohibited activities: copying, reverse-engineering, data scraping, unauthorized branding.

Consumer Protection, Warranties, and Representations

Hovmart promotes good faith, transparency, and fairness. No warranties are made regarding property ownership, quality, or platform uptime. Users warrant legal capacity, accurate information, and compliance with applicable laws. Users are entitled to clear disclosure of fees and refund mechanisms.

Data Protection, Privacy, and Confidentiality

Hovmart processes personal data per NDPR and NDPA. Users consent to sharing data for KYC, AML, and service delivery. Confidential information must not be disclosed or misused.

Suspension, Termination, and Enforcement

• Accounts may be suspended or terminated for breaches, failed KYC, or investigations.
• Rights under the Terms cease upon termination; outstanding obligations remain enforceable.

Third-Party Services and Integrations

Hovmart integrates with third-party payment, verification, or financial providers. Users authorize sharing of necessary data; Hovmart is not liable for third-party actions.

Risk Disclosure and Limitation of Liability

Property transactions involve market, regulatory, and counterparty risks. Hovmart is not liable for indirect, incidental, or consequential losses. Maximum liability does not exceed total fees paid in the prior 12 months or escrow fee, whichever is lower.

Indemnity

Users indemnify Hovmart against claims, losses, or damages arising from breach of Terms, misuse of Platform, false information, or third-party rights violations. Indemnity survives termination.

Dispute Resolution and Governing Law

Governed by Nigerian law. Parties attempt amicable resolution within 14 days; unresolved disputes go to arbitration in Ibadan or Lagos per Arbitration and Mediation Act, 2023. High Courts of Oyo or Lagos have jurisdiction for enforcement.

Force Majeure

Hovmart is not liable for delays/failures due to events beyond reasonable control (e.g., natural disasters, pandemics, strikes, government actions). Obligations are suspended until normalcy is restored.

Notices and Communications

Legal notices to Hovmart: Legal Department, Hovmart Technologies Limited, Registered Office, Email: [insert email]. Notices to Users sent to registered account email/phone are binding. Public Platform notices also apply.

Intellectual Property Disputes

Report IP infringements to ipcomplaints@hovmart.ng. Hovmart investigates and may remove content or suspend offending accounts.

Assignment and Subcontracting

Hovmart may assign or subcontract rights and obligations; users cannot assign without written consent.

Entire Agreement, Severability, and Waiver

Terms, Privacy Policy, Escrow Policy, and KYC Framework constitute the full agreement. Invalid provisions are severable; failure to enforce rights is not a waiver.

Effective Date and Version Control

Terms effective upon publication; Hovmart may update them. Continued use constitutes acceptance.

Acknowledgment

By using the Platform, you acknowledge reading, understanding, and agreeing to these Terms and referenced policies.

Schedules 1 & 2: Compliance and Escrow Policies

The full Compliance Annex and Escrow & Transaction Policy form integral parts of these Terms. They detail KYC tiers, AML/CFT compliance, escrow workflows, fees, dispute management, and regulatory cooperation.