Terms of Service

1. Definitions

In these Terms of Service:

• "Platform" means the QSavings web application, mobile applications, APIs, and all related services operated by QSavings Ltd.
• "User", "you", "your" means any individual who registers for, accesses, or uses the Platform.
• "Group" means a savings group created on the Platform by one or more Users.
• "Committee Member" means a User appointed as chairperson, treasurer, or secretary of a Group.
• "Contribution" means a financial deposit made by a User to a Group's savings pool.
• "Loan" means a borrowing facility extended to a User from a Group's pooled funds.
• "Campaign" means a fundraising initiative created within a Group for a designated beneficiary.
• "Platform Fees" means the service charges levied by QSavings on certain transactions as set forth in Section 8.

2. Eligibility & Account Registration

To use QSavings, you must:

• Be at least 18 years of age and possess the legal capacity to enter into binding agreements under Rwandan law.
• Provide accurate, current, and complete registration information, including your full legal name, a valid phone number, and (if provided) a valid email address.
• Verify your phone number via OTP and, where required, complete Know Your Customer (KYC) verification by submitting valid identification documents.
• Maintain the security and confidentiality of your account credentials. You are solely responsible for all activity conducted through your account.

We reserve the right to suspend or terminate accounts that contain false or misleading information, fail KYC verification, or are used in violation of these Terms.

3. Platform Services

QSavings provides the following services:

3.1 Group Savings Management

Users may create or join savings groups with configurable parameters including contribution frequency (weekly or monthly), share value, cycle duration, and loan terms. Groups are governed by an appointed committee.

3.2 Contribution Tracking

Members record contributions to their group's savings pool. Contributions are subject to committee verification and platform fee deduction. Sub-account allocation allows contributions to be directed to designated funds.

3.3 Loan Facilitation

Eligible members may apply for loans from their group's pooled savings. Loan eligibility is determined by contribution history and the group's maximum loan multiplier. Loans require committee approval and follow a structured amortization schedule with interest.

3.4 Campaign Management

Committee members may create fundraising campaigns on behalf of designated beneficiaries. Group members may pledge funds toward campaigns. Campaign payouts are subject to platform fees.

3.5 Payment Processing

QSavings facilitates payments through third-party payment gateways, including AzamPay, supporting MTN Mobile Money and Airtel Money. QSavings does not hold funds directly; all transactions are processed through regulated payment service providers.

4. User Obligations

By using the Platform, you agree to:

• Use the Platform only for lawful purposes consistent with these Terms and applicable Rwandan law.
• Provide truthful, accurate, and complete information in all transactions, forms, and communications on the Platform.
• Honour all financial commitments made through the Platform, including contribution schedules, loan repayment obligations, and campaign pledges.
• Not use the Platform for money laundering, terrorist financing, fraud, or any other illegal activity.
• Not attempt to circumvent Platform security, manipulate transaction records, exploit bugs, or interfere with the operation of the Platform.
• Not share your account credentials with third parties or allow unauthorized access to your account.
• Comply with all group rules, committee decisions, and governance structures established within your savings groups.
• Report any security vulnerabilities, unauthorized access, or suspicious activity to us immediately at security@qsavings.rw.

5. Group Governance & Committee Roles

Each savings group on QSavings operates under a committee-based governance model:

• Chairperson: The group creator who holds ultimate administrative authority, including managing group settings, appointing committee members, reviewing join requests, generating invite links, and initiating payouts.
• Treasurer: Authorized to verify/reject contributions, approve/reject loan applications, disburse approved loans, and execute sub-account payouts.
• Secretary: Authorized to verify/reject contributions and participate in loan approval workflows.

QSavings provides the platform infrastructure but does not govern individual group decisions. Committee members are responsible for the fair and lawful management of their groups. QSavings shall not be liable for disputes arising from committee decisions, including contribution verification, loan approvals/rejections, or fund disbursements.

6. Financial Transactions

6.1 Contributions

Contributions are recorded in the Platform's immutable ledger. Once a contribution is verified by a committee member, it is final and cannot be reversed through the Platform. Platform fees are automatically deducted from the gross contribution amount before crediting the group pool.

6.2 Loans

Loans are peer-to-peer arrangements facilitated by the Platform. QSavings calculates amortization schedules, tracks repayments, and applies penalties for overdue installments, but does not guarantee loan repayment. The borrower is solely responsible for repaying the full principal plus interest according to the agreed schedule. Late payments incur penalties at the group's configured penalty rate, calculated daily on overdue amounts.

6.3 Campaigns

Campaign pledges become binding upon payment confirmation. Campaign payouts are executed by authorized committee members and are subject to platform fees. QSavings is not responsible for how campaign beneficiaries use disbursed funds.

6.4 Irreversibility

All completed financial transactions recorded in the Platform's ledger are final and irreversible. The double-entry ledger ensures accounting integrity. Requests for corrections must be submitted to the relevant group's committee and are subject to committee discretion.

7. Payment Processing

QSavings processes payments through AzamPay, which supports MTN Mobile Money and Airtel Money. By initiating a payment, you:

• Authorize QSavings to transmit the necessary transaction details (phone number, amount, currency) to AzamPay for processing.
• Acknowledge that payment processing is subject to the terms and conditions of the relevant mobile money provider and AzamPay.
• Understand that QSavings uses idempotency keys to prevent duplicate transactions. Each payment request must include a unique idempotency key; duplicate keys within 24 hours will be rejected.
• Accept that QSavings is not liable for delays, failures, or errors caused by third-party payment providers, mobile network operators, or banking systems.

In the event of a failed or disputed payment, users should first contact their mobile money provider. For Platform-related payment issues, contact support@qsavings.rw.

8. Platform Fees

QSavings charges the following platform fees, which are automatically calculated and deducted:

All fees are denominated in Rwandan Franc (RWF). Fee rates may be adjusted with 30 days' advance notice via in-app notification. Continued use of the Platform after fee changes constitutes acceptance of the revised rates. Enterprise customers may negotiate custom fee structures.

9. Intellectual Property

All content, software, designs, trademarks, logos, and documentation comprising the QSavings Platform are the exclusive property of QSavings Ltd or its licensors and are protected by Rwandan and international intellectual property laws.

You are granted a limited, non-exclusive, non-transferable, revocable license to access and use the Platform for its intended purpose. You may not:

• Copy, modify, distribute, sell, or lease any part of the Platform or its content.
• Reverse-engineer, decompile, or disassemble any portion of the Platform software.
• Use automated tools (bots, scrapers, crawlers) to access, extract, or interact with the Platform without written authorization.
• Remove, alter, or obscure any proprietary notices, watermarks, or branding from the Platform.

Any content you submit to the Platform (e.g., group descriptions, campaign details) remains your property, but you grant QSavings a worldwide, royalty-free license to use, display, and process that content as necessary to provide our services.

10. Limitation of Liability

To the maximum extent permitted by applicable law:

• Platform as facilitator: QSavings is a technology platform that facilitates group savings, lending, and campaign activities. We are not a bank, microfinance institution, or financial advisor. We do not guarantee returns, loan repayment, or the solvency of any group or member.
• No liability for group decisions: QSavings shall not be liable for losses arising from committee decisions, member defaults, mismanagement of group funds, or disputes between group members.
• No liability for third-party services: QSavings shall not be liable for failures, delays, or errors in payment processing by AzamPay, MTN, Airtel, or any other third-party service provider.
• Indirect damages: In no event shall QSavings be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, goodwill, or business opportunities, arising from your use of or inability to use the Platform.
• Maximum liability: Our total aggregate liability to you for any claims arising from or related to the Platform shall not exceed the total platform fees you have paid to QSavings in the twelve (12) months preceding the claim.

11. Indemnification

You agree to indemnify, defend, and hold harmless QSavings Ltd, its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising from or related to:

• Your breach of these Terms of Service.
• Your violation of any applicable law or regulation.
• Your use of the Platform, including any financial transactions you initiate or approve.
• Any dispute between you and other group members arising from savings, lending, or campaign activities facilitated through the Platform.
• Your negligent or wilful misconduct in managing group funds as a committee member.
• Any third-party claims arising from content you submit to the Platform.

12. Disclaimers

The Platform is provided on an "AS IS" and "AS AVAILABLE" basis without warranties of any kind, whether express, implied, or statutory, including but not limited to:

• Implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
• Warranties that the Platform will be uninterrupted, error-free, secure, or free from viruses or harmful components.
• Warranties that any data, calculations, or reports generated by the Platform are complete, accurate, or reliable for tax, legal, or accounting purposes.

QSavings does not provide financial, legal, or tax advice. Users should consult qualified professionals for financial planning, legal compliance, and tax matters.

13. Suspension & Termination

13.1 By QSavings

We may suspend or terminate your account at any time, with or without notice, if we reasonably believe that:

• You have violated these Terms of Service.
• Your account is being used for fraudulent, illegal, or unauthorized purposes.
• You have failed KYC verification requirements.
• Your account poses a security risk to the Platform or other users.
• Continued provision of services to you would violate applicable law or regulation.

13.2 By You

You may request account deletion at any time by contacting support@qsavings.rw. Before deletion:

• All outstanding loan obligations must be settled.
• Active group memberships will be terminated, and remaining shares will be handled per group governance rules.
• Financial records will be retained as required by law (see our Privacy Policy, Section 7).

13.3 Effect of Termination

Upon termination, your right to access and use the Platform ceases immediately. Sections 8 (Fees), 10 (Limitation of Liability), 11 (Indemnification), 12 (Disclaimers), 15 (Governing Law), and 16 (Dispute Resolution) survive termination.

14. Privacy & Data Protection

Your use of the Platform is also governed by our Privacy Policy, which describes how we collect, use, store, and protect your personal data. By using the Platform, you consent to the data practices described in the Privacy Policy.

For information about cookies and tracking technologies, please see our Cookie Policy.

15. Governing Law

These Terms of Service shall be governed by and construed in accordance with the laws of the Republic of Rwanda, without regard to its conflict of law provisions. Where applicable, the provisions of the EU General Data Protection Regulation (GDPR) shall apply to users located in the European Union or European Economic Area.

16. Dispute Resolution

16.1 Informal Resolution

Before filing any formal proceedings, you agree to attempt to resolve disputes informally by contacting us at legal@qsavings.rw. We will endeavour to resolve your concern within 30 days.

16.2 Arbitration

If a dispute cannot be resolved informally within 30 days, either party may submit it to binding arbitration administered under the rules of the Kigali International Arbitration Centre (KIAC). The arbitration shall be conducted in English in Kigali, Rwanda. The arbitrator's decision shall be final and binding.

16.3 Class Action Waiver

You agree that any dispute arising from these Terms or the Platform shall be resolved on an individual basis. You waive any right to participate in class actions, class arbitrations, or representative proceedings against QSavings.

16.4 Jurisdiction

For any matters not subject to arbitration, the courts of the Republic of Rwanda located in Kigali shall have exclusive jurisdiction.

17. Force Majeure

QSavings shall not be liable for any failure or delay in performing its obligations under these Terms where such failure or delay results from circumstances beyond our reasonable control, including but not limited to: natural disasters, pandemics, war, terrorism, government actions, sanctions, embargoes, power outages, internet outages, telecommunications failures, strikes, or third-party service disruptions.

18. Modifications to Terms

We reserve the right to modify these Terms at any time. When we make material changes, we will:

• Provide at least 30 days' advance notice via in-app notification before the changes take effect.
• Update the "Last updated" date at the top of this page.
• Make the previous version of the Terms available upon request.

Your continued use of the Platform after the effective date of any changes constitutes your acceptance of the revised Terms. If you do not agree with the updated Terms, you must discontinue use of the Platform and request account deletion.

19. Severability

If any provision of these Terms is found to be invalid, unenforceable, or illegal by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving its original intent.

20. Entire Agreement

These Terms of Service, together with our Privacy Policy and Cookie Policy, constitute the entire agreement between you and QSavings regarding your use of the Platform. They supersede all prior agreements, understandings, negotiations, and communications, whether written or oral, relating to the subject matter herein.

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