Terms Of Service

1. INTRODUCTION

1.1. Welcome to the “Stow” service platform. The “Stow” service was created to assist individuals convert and move money seamlessly, while saving on high fees for international transfer. It is operated in Nigeria by Stow Technologies Limited under the trading name of “Stow”. Your use of and access to the Services are subject at all times to these Terms of Service, our Privacy Policy and Applicable Laws.
1.2. Stow Technologies Limited is a private company incorporated under the Companies and Allied Matters Act with Registration Number RC 1763645, having its registered office at 1, Adedeji Adekola Street, off Freedom way, Lekki Phase 1, Lagos, Nigeria.
1.3. These Terms of Service represent an agreement between you and Stow Technologies Limited. ("Stow") and contain the terms and conditions governing your use of and access to our website at www.getstow.co and all affiliated websites owned and operated by us and our products, services, and application. You are encouraged to read these Terms of Service carefully because, by registering as a user on the “Stow” platform and thereafter continuing to use the “Stow” product offering, you agree to be bound by and comply with these Terms of Service.

2. INTERPRETATION

2.1. Definitions

For the purpose of these Terms of Service, the following words shall bear the following meanings:
1. “KYC” means “Know Your Customer” which is the process of a business identifying and verifying the identity of its clients
2. The terms “you” and “your” “User” refer to the individual reading these Terms of Use who is or will become a registered user of the “Stow” Service.
3. The terms “our app”, “our website” or “Stow” refer to our mobile application or www.getstow.co
4. The term our “company” “us” refers to Stow Technologies Limited.

3. IMPORTANT NOTICES

3.1. These Terms of Service contain specific provisions which limit the liability of Stow Technologies Limited, which allocate risk or liability to you or which constitute acknowledgement of facts by you. Please pay particular attention to these terms since they limit your ability to recover losses that you may incur in connection with your use of the “Stow” Platform.
3.2. Only persons who are 18 years or older may register as a user of the “Stow” Service. By registering as a user of the “Stow” Service, you represent and warrant that you are 18 years or older and of legal age to form a binding agreement with Stow Technologies Limited.
3.3. If you become a registered user of the “Stow” Service and you choose a username, password, or any other piece of information as part of the security procedures employed by the company you must treat such information as confidential, and you must not disclose it to any third party. In this regard:
3.4. You agree to immediately notify the company if your username, password, or PIN is lost or stolen, is used without your permission or if there is any other breach of security. You agree that you are only allowed to create and maintain one registered user account: and
3.5. You agree that you shall be solely responsible for any activities or actions under your User Account, whether you have authorized such activities or actions.
3.6. The company reserves the right to disable any account with username, password or PIN chosen by you, in its sole discretion, for any reason, including if, in the company’s opinion, you have failed to comply with any provision of these Terms of Use.

4. LEGAL REQUIREMENT

4.1. Declaration

By registering as a user on the “Stow” platform and by having your savings and investment portfolio managed by Stow, you declare that:
1. You have read these Terms of Service and you know, understand, and agree with the contents thereof.
2. All information furnished by you to us whether directly or indirectly is true, accurate, current, and complete in all respects.
3. You will comply with all applicable laws, including, without limitation, privacy laws, intellectual property laws, anti-spam laws, export control laws, tax laws, and regulatory requirements.
4. You will use the services solely for your personal, non-commercial use, and in a professional manner.
5. You will use your real name on your profile and keep your password confidential.

4.2. KYC

1. To register as a user on the Stow platform, you will be required to provide certain personal data to enable your identity to be verified and to ensure compliance with our Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) obligations, we may require you to provide any or all the following: your full name; your date of birth; your Bank Verification Number ("BVN"); your current residential address your picture; copy of a valid Government issued ID (national ID, international passport, permanent voter’s card or driver’s license); copy of recent utility bill, bank statement, affidavit, or another bill, dated within three months of our request, which carries your name and address; any other information or document as we may require for our internal risk assessment.
2. You agree that all personal data, information, and documentation which you provide to the company, whether directly or indirectly, during the registration process and at all other times will be true, accurate, current, and complete.
3. You also agree that you will ensure that this information and documentation is kept accurate and up to date at all times. If, at any time, the company has reason to believe that the information or documentation provided is false or altered in any way, your Stow Account will be closed immediately, and the relevant authority notified.

4.3. Disclosure of Personal Information


4.3.1 The company may disclose your personal information if required to do so by law (including, without limitation, when responding to a subpoena or request from law enforcement, court, or government agency) or in the good faith belief that such action is necessary to:
1. comply with a legal obligation.
2. protect and defend the company’s rights or property.
3. act in urgent circumstances to protect the personal safety of other users of the Stow Service or the public; or
4. protect against legal liability; or
5. third party companies or entities with which the company contracts, whether directly or indirectly, to provide the Stow Service where such companies or entities require access to your personal information to perform their own regulatory functions and not for any other purposes.

5. OPERATION OF THE “STOW” SERVICES

5.1. Registration

5.1.1. As stated in 4.2. above, you will need to submit certain personal data, information and documentation when registering as a user of the Stow Service to ensure compliance with the company’s KYC Policy.
5.1.2. There are two types of registration:
1. A “light” registration in terms of which you will only be required to input your email address, phone number and BVN number.
2. A “full” registration in terms of which you will be required to submit all information as in 4.2.1. of this Terms of Service

5.2. Verification And Checks

1. The company will verify your residential address and personal details which includes all information requested by us, such as your name, email address, mobile device number, BVN number, online credentials for your Bank Account, and such other information as we may request from time to time to confirm your identity.
2. By accepting these Terms of Use, you authorise the company to make any inquiries considered necessary to validate the information that you have provided.

5.3. Your Access

1. To access certain features of Stow, you must register to create an account ("User Account"). When you register, you will be asked to choose a password, which you will be required to use to access your User Account.
2. Stow has physical, electronic and procedural safeguards that comply with regulatory standards to guard Users' and Clients' nonpublic personal information (see Privacy Policy).
3. You are responsible for safeguarding your password and other User Account information.
4. You agree not to disclose your password to any third party and you will notify Stow immediately if your password is lost or stolen or if you suspect any unauthorized use of your User Account.
5. You may not scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work).

5.4. Currency Conversions

5.4.1. Currency Conversion Services

1. Currency exchange and conversion services for purposes of using the Stow App are carried out by certain vendors providing, among other things, integrated payment and transaction processing services and the entire settlement process for collections, currency conversions and remittances (the “Converter”)
2. Converter will contract as principal with the User and deal with the User on an execution only basis. Currency exchange and conversion services are for settlement or delivery. That means at conversion User must take or give instructions for delivery of all of the currency purchased.
3. Converter may provide information about foreign exchange markets and related matters from time to time. Converter do not provide advice and will not provide advice to the User upon the merits of any investment or conversion, or provide taxation or other advice to the User.
4. In entering into any transaction, User must not treat any information or comments by Converter as advice and the User must rely only on User’s own judgement (or the judgement of the User’s third party adviser) to enter into any transaction.
5. Converter is entitled, but is not obligated, to act upon directions which are or reasonably appear to be from the User. User authorizes Converter to contact User for any reason.

5.4.2. Acceptance of Orders

1. If Converter accepts a User order for currency conversion services, Converter shall subsequently provide adequate confirmation to the User confirming the details of the order. Such confirmation may include, among other things, details regarding the order, the exchange rate, the delivery of or payment for the currency, and the charges and fees incurred as a result of such transaction. Such confirmation shall be deemed approved by and binding upon the User unless User provides immediate written notice to Converter particularizing the details with which User disagrees or has not authorized.
2. User shall indemnify, defend and hold Converter and Stow harmless from and against any liability that User may incur as a result of accepting instructions from the User or purporting to be from User and which are honestly believed by Stow or Converter to come from the User.
3. Neither Stow nor Converter service Provider shall have any duty or obligation to confirm or make inquiry with respect to any instructions which are believed in good faith to be genuinely from the User. Converter may in its sole, exclusive and absolute discretion refuse any User order or instruction without giving any reason or being liable for any loss as a result thereof.

5.4.3. Exchange Rates.


1. Where it is necessary or desirable to convert any sum from one currency to another, Converter will convert currency for the User in accordance with its general practices. Any rate, method and date specified by User will be binding on the User. The exchange rate for any transaction initiated or requested by a User will be based on the conversion or exchange rate set forth on the Stow Platform, irrespective of any other available conversion or exchange rate.
2. Converter shall use commercially reasonable means to duly fulfill and complete User requests thereof and User hereby provides all necessary consents, approvals and authorization for Converter to act thereupon. By making such a request, User agrees and acknowledges User’s Account will be debited in accordance with the currency conversion request.
3. User agrees and acknowledges foreign currency exchange rates are subject to fluctuations outside the control of Stow and Converter. Historical prices are not a reliable indicator of future prices.
4. User agrees and acknowledges that the rates set forth on the Stow App may not be the prevailing market rates, that rates are subject to change, that rates outside the Stow App may be more competitive with the rates identified in the Stow App, and that neither Converter nor Stow have any obligation or liability with respect to the currency conversion transaction, including, without limitation, the rate at which currency is converted..

6. FRAUD/BREACH

1 The company may suspend or terminate your account if it suspects that you have engaged in or are about to engage in or have been in any way involved in or linked to, fraudulent activity in connection with the Stow Service which may include but not limited to the following:
1. Deal with any User information which you do not have the lawful right to use, copy, transmit, display, or make available (including any User information that would violate any confidentiality or fiduciary obligations that you might have with respect to the User information); or
2. Deal with any User information that infringes the intellectual property rights of, or violates the privacy rights of, any third-party (including without limitation copyright, trademark, patent, trade secret, or other intellectual property right, moral right, or right of publicity); or
3. Deal with unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of solicitation; or
4. Deal with any personal information that is unlawful, obscene, harmful, threatening, harassing, defamatory, or hateful, or that contain objects or symbols of hate, invade the privacy of any third-party, contain nudity, are deceptive, threatening, abusive, inciting of unlawful action, or are otherwise objectionable in the sole discretion of Stow; or
5. Deal with any personal information that contains software viruses or any other computer code, files, or programs designed to (i) interrupt, destroy, or limit the functionality of any computer software; or (ii) interfere with the access of any user, host or network, including without limitation overloading, flooding, spamming, mail-bombing, or sending a virus to Stow; or
6. Deal with any personal information that includes code that is hidden or otherwise surreptitiously contained within the User information;
7. Deal with any meta tags or other hidden text or metadata utilizing a Stow name, trademark, URL or product name;
8. Deal with any forged TCP/IP packet header or any part of the header information in any posting, or in any way use Stow to send altered, deceptive, or false source- identifying information;
9. Interfere with or disrupt (or attempt to interfere with or disrupt) any Stow web page, server, or network, or the technical delivery systems of Stow's providers, or disobey any requirements, procedures, policies, or regulations of networks connected to Stow.
10 Attempt to probe, scan, or test the vulnerability of any Stow system or network or breach or impair or circumvent any security or authentication measures protecting Stow;
11 Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software used to provide Stow;
12 Attempt to access, search, or meta-search Stow or content thereon with any engine, software, tool, agent, device, or mechanism other than software and/or search agents provided by Stow or other generally available third- party web browsers, including without limitation any software that sends queries to Stow to determine how a website or web page ranks;
13 Violate the terms of service or any other rule or agreement applicable to you or Stow's inclusion in, reference to, or relationship with any third party or third-party site or service, or your use of any such third-party site or service; Collect or store personal information about other users without their express permission;
14 Impersonate or misrepresent your affiliation with any person or entity, through pretexting or some other form of social engineering, or commit fraud;
15 Solicit any User for any investment or other commercial or promotional transaction;
16 Violate any applicable law, regulation, or ordinance;
17 Scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work);
18 Use, launch, or permit to be used any automated system, including without limitation "robots," "crawlers," or "spiders"; or
19 Copy or use the information, content or data on Stow in connection with a competitive service (as determined by Stow);
20 Monitor Stow's availability, performance or functionality for any competitive purposes
21 Use Stow or content thereon in any manner not permitted by these Terms of Use

6.2. In addition to the conduct stipulated in 6.1, Stow may limit your activity and immediately issue a warning, suspend, or terminate your account without notice if:
1. Despite its reasonable endeavours, Stow is unable to verify or authenticate any information you have provided; or
2. The company believes that your actions may cause Stow to suffer financial loss or incur legal liability.

7. ELECTRONIC COMMUNICATIONS

7.1. You acknowledge that:
1. There are risks implicit in transmitting communications electronically including the risk that the electronic message received by the company may be different from the electronic message which you sent or intended to send because of the malfunction of equipment, the distortion of communication links and the like; and
2. It is not practical for Stow to establish the authenticity of all electronic messages which purport to have been sent by you.
3. Notwithstanding 7.1 above, you hereby irrevocably and unconditionally authorise Stow to accept all instructions, mandates, consents, commitments, and any other documentation transmitted by you by electronic message and which purport to emanate from you (‘’electronic instructions”); and act upon such electronic instructions.

7.2. You agree that the following categories of information (“Communications”) may be provided by electronic means to you:
1. These Terms of Use and any amendments, modifications, or additions to these Terms of Use.
2. Any initial, periodic or other disclosures or notices provided in connection with the Stow Service including, without limitation, those required by law.
3. Any customer service communications including, without limitation, communications with respect to claims of error or unauthorised use of the Stow Service; and
4. Any other communication related to the Stow Service.

7.3. You undertake to implement and adhere to any procedures and/or restrictions imposed on you by Stow from time to time regarding the sending of electronic instructions to Stow.
7.4. You acknowledge and accept that Stow is not liable for errors or delays in the transmission of your electronic instructions, or the misinterpretation upon receipt of such electronic instructions, or for any loss or damage from whatever cause which may arise from Stow accepting your electronic instructions unless such loss or damage may arise from the proven unlawful or fraudulent acts of the employees of Stow.
7.5. You hereby waive any rights you may have or may obtain against Stow arising directly or indirectly from any losses or damages which you may suffer due to Stow acting on your electronic instructions and you hereby indemnify Stow in respect of any claims, demands or actions made against Stow or losses or damages suffered by Stow because your electronic instructions were acted upon.
7.6. The limitation of liability and indemnity contained in clauses 7.4 and 7.5 above will remain in full force and effect until cancelled by you in writing.

8. COLLECTION OF INFORMATION

8.1. You consent to the company processing your personal information for the purposes of providing the Stow Service, including for the verification of your identity.
8.2. You also consent to the use of such personal information for communicating with you, and for statutory, accounting, and archival purposes.
8.3. You acknowledge that you have read and agreed to be bound by Stow’s Privacy Policy.

9. INTELLECTUAL PROPERTY

9.1. The Stow Service and all intellectual property incorporated in or related to the Stow Service (including without limitation copyrights, patents, database rights, trademarks, and service marks) is owned by or licensed to the company. All right, title and interest in and to such intellectual property shall remain the property of the company and/or the property of such third-party licensor.
9.2. Copyrighted Materials: No Unauthorized Use. If you become aware of misuse of Stow or content thereon by any person, please contact Stow to report any abuse. Stow has adopted and implemented a policy that provides for the termination of Accounts of users who infringe the rights of copyright holders.

10. NO WARRANTY

10.1. The company, its Affiliates, officers, directors, agents and employees do not guarantee continuous, uninterrupted or secure access to the Stow Service, and operation of the Stow Service may be interfered with by numerous factors outside of the company’s control.
10.2. The Stow Service is provided “as is” and as and when available and, to the extent permissible by law, the company excludes all implied warranties, conditions or other terms, whether implied by statute or otherwise, including without limitation, any terms as to skill and care or timeliness of performance.

10.3. Without limiting the foregoing, we and our third-party service providers make no warranty that:
1. the services will meet your requirements,
2. the services will be uninterrupted, timely, secure, or error-free,
3. the results that may be obtained from the use of the services will be accurate or reliable,
4. the quality of any products, services, information, or other material purchased or obtained by you through the services will meet your expectations, or
5. Any errors in the services will be corrected. No oral or written information or advice obtained by you from us or our third-party service providers through or from the services will create any warranty not expressly stated in these terms.

10.4. Any material downloaded or otherwise obtained through the services is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material.

11. LIMITATION OF LIABILITY

11.1. In no event will Stow or any of its Affiliates, their respective licensors, service providers, business partners, employees, agents, officers or directors be liable for damages of any kind, arising out of or in connection with your use, or inability to use, the Stow Service including any direct, indirect, special, incidental, consequential or punitive damages, including, without limitation, loss of revenue, loss of profits, loss of business or anticipated savings, loss of use, loss of goodwill, loss of data, and whether caused by delict (including negligence), breach of contract or otherwise, even if foreseeable.

11.2. Stow and its Affiliates, their respective licensors, service providers, business partners, employees, agents, officers and directors, will not be liable to you or any third party for damages of any kind (including liability for negligence):
1. For the acts or omissions of other providers of telecommunications services or for faults in or failures of the networks and equipment of such providers.
2. For the performance of the services or the inability to use the services
3. For any indirect, incidental, special, consequential, punitive, or exemplary damages, whether based in contract, tort, or otherwise, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses, even if such persons have been advised of the possibility of such damages, which arise out of or are in any way connected with these terms, the services, or content.
4. For any amount, in the aggregate, in excess of the greater of 20,000 naira or the amount transferred from your debit card to your Stow account via the services
5. For any event beyond our reasonable control. Some states do not allow the exclusion or limitation of certain damages, so the above limitation and exclusions may not apply to you.

11.3. Any information provided by or through the Stow App about currency markets and related matters does not constitute any advice to the User or any other party. Any decision to enter into a currency conversion is made at User’s sole and exclusive risk. User acknowledges and agrees that neither Converter nor Stow shall be liable to User under any circumstances for the following:
1. if they are unable to perform any of their obligations to User due to failure of any technical systems or for any other reasons beyond their reasonable control including, without limitation, war, terrorism, government action, natural disaster, and industrial dispute;
2. for any damage to User’s computer equipment as a result of using the Stow App;
3. the availability of more competitive currency conversion rates outside the Stow App;
4. their changing or deleting content or features of Stow App in any way, at any time,
5. for any indirect, special, punitive, incidental or consequential losses, claims or damages of any nature whatsoever (including, but not limited to, loss of profits, loss of savings or loss of use of money), whether foreseeable or unforeseeable, suffered by User or incurred from User’s use of, or delay, or inability to use Stow App, breach or failure of express or implied warranty, breach of contract, misrepresentation, strict liability in tort or otherwise.

11.4. THE FOREGOING DISCLAIMERS, WAIVERS AND LIMITATIONS SHALL APPLY TO THE MAXIMUM EXTENT PERMITTED, EVEN IF ANY REMEDY FAILS ITS ESSENTIAL PURPOSE. If User is dissatisfied with any portion of the Stow App, User’s sole and exclusive remedy is the discontinuation of User’s use of Stow App. In no event may any claim be brought under or in connection with these Terms and Conditions more than one year after the User knows or should have known of them action giving rise to the claim. If any provisions hereof, including any disclaimers and limitations, are found to be unlawful or unenforceable then such provisions shall be severed and shall not affect the validity and enforceability of the remaining terms. This provision does not affect User’s statutory rights to the extent such rights cannot be modified or excluded under applicable law. The maximum liability under any particular currency exchange or conversion transaction, whether arising in contract, tort or otherwise, shall in no circumstances exceed the amount equal to the value (expressed in United States Dollars) of the currency sold by Converter under User’s request as of the due date of settlement of such transaction.

12. INTERNATIONAL PATRONAGE

The Stow Platform is operated by us from Nigeria. If you are not a resident of Nigeria or you are located outside Nigeria, you are only authorized to use the stow Platform to the extent of dealing with your foreign currency wallet, which includes the the American Dollar, Canadian Dollar,Great Britain Pounds and the European Euro currency wallets available on the Stow Platform. Users who choose to access the service on the stow platform do so at their own risk, and are responsible for complying with all local laws, rules and regulations, and export controls applicable in such jurisdiction in connection with the User use of the services on the stow platform. Users are responsible for any violations of such controls, including without limitation, any embargoes or other federal rules and regulations restricting exports in the foreign country.

13. FEES AND PENALTY FEE

13.1. You agree to pay all Transaction Fees in connection with services offered on the Stow platform as shall be notified to you through the App. Any changes to the Transaction Fees will be communicated to you within a reasonable time.
13.2. You authorize Stow to deduct from your wallet account, (without reference to you) any Transaction Fee and all other fees expenses and taxes, duties, impositions and expenses incurred in relation to your use of the Services.
13.3. Should either Party in good faith have cause to dispute any amount appearing on an invoice submitted by the other Party pursuant to this Agreement (“Affected Invoice”), the affected Party shall, within Forty-Eight (48) hours of receipt of the Affected Invoice, notify the other Party in writing, of such dispute, specifying the Affected Invoice, the specific amount in dispute and alleged reasons or grounds for dispute, failing which it will be deemed that the invoice is true and correct.

14. ASSET MANAGEMENT AND REGULATORY COMPLIANCE

Stow has a Microfinance bank (Stow Microfinance Bank) duly Licensed by the Central Bank of Nigeria which is used to save all deposited money in the Naira wallet available on the Stow Platform. Funds in your Naira wallets are also covered under the Nigerian Deposit Insurance Scheme subject to the prevailing limits imposed by the Nigerian Insurance Deposit Corporation. Deposits in the Multi-currency Wallets are invested with Ava Capital, a company duly licensed by the Securities and Exchange Commission of Nigeria (SEC) to act as Investment Advisers, Portfolio and Asset Managers. Stow also has in place a robust AML/CFT legislative framework as set out in the Nigerian Anti-Money Laundering and Combating of Financing of Terrorism Regulations to put in place an effective risk-based AML/CFT framework which includes the application of a risk-based approach, customer due diligence (“CDD”) measures, reporting of suspicious transactions, policies and procedures, record keeping and training.

15. INDEMNITY

15.1. You agree to defend, indemnify and hold harmless Stow , its Affiliates and their respective officers, directors, employees, contractors, agents, licensors and suppliers from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses or fees (including reasonable attorneys’ fees) resulting from your violation of these Terms of Use or your use of the Stow Service other than as expressly authorized in these Terms of Use or your negligence, fraud or wilful misconduct.
15.2. You agree to fully reimburse Stow in respect of all losses, costs, actions, claims, and liabilities incurred by Stow as a result of any breach or non-observance by you of these Terms of Use or any data submitted by you to Stow.

16. HOW TO CONTACT US

If you wish to make a comment or complaint about any aspect of the Stow Service, please send your complaint in writing to Stow Technologies Ltd., Adedeji Adekola Street, off Freedom way, Lekki Phase 1, Lagos, Nigeria, or email your complaint to Admin@getstow.co

17. GENERAL

17.1. Entire Agreement

1. These Terms of Use, Stow’s Privacy Policy, and any additional terms to which you agree when you create and fund an investment account constitute the sole and entire agreement between you and the company with respect to the Stow Service.
2. When you effect Transactions through the Stow Service any and all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the Stow Service are superseded.

17.2. Changes to Terms of Use

1. Stow may revise and update these Terms of Use from time to time in its sole discretion by posting a revised version on the Stow.com website.
2. Except as otherwise required by law, the revised version will be effective at the time of posting to the Stow.com website.
3. You are expected to check the Stow website from time to time to take notice of any changes Stow has made as they are binding on you.
4. You may terminate your use of the Stow Service if you do not agree with any changes made to these Terms of Use.
5. Your continued use of the Stow Service following the posting of revised Terms of Use means that you accept and agree to the changes.

17.3. Applicable Law and Jurisdiction

These Terms of Use will be governed by Nigerian Law and Stow and you will submit to the exclusive jurisdiction of the relevant Federal High Court.

17.4. No Waiver

The failure of Stow to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision.

17.5. Severability

If any provision of these Terms of Use is found by an arbitrator or court of competent jurisdiction to be invalid, Stow and you nevertheless agree that the arbitrator or court should endeavour to give appropriately valid effect to the intention of these Terms of Use as reflected in the provision, and the other provisions of the Terms of Use shall remain in full force and effect.