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Terms of Service.

The agreement between Korevra Technology Inc. and you (the customer institution and your end users) governing use of the Korevra SureLend platform.

1. Definitions

"Korevra" means Korevra Technology Inc., a Nigerian company. "Platform" means the Korevra SureLend software-as-a-service offering. "Customer" means the institutional user (microfinance bank, digital lender, cooperative, etc.) that has signed a Master Services Agreement with us. "End User" means a person whose loan or financial relationship is administered through the Platform.

2. Service description

The Platform provides loan origination, decisioning, disbursement, servicing, collections, compliance, and analytics for the Customer's lending operation. It includes connections to NIBSS, the three CBN-licensed credit bureaus, NIMC, payment rails, and other Nigerian financial infrastructure.

3. Customer obligations

• Use the Platform only for lawful purposes consistent with the Customer's regulatory licences (CBN, FCCPC, etc.).
• Maintain accurate user accounts and revoke access promptly when staff leave.
• Honour the FCCPC DEON ethical-collection rules in every interaction with End Users.
• Pay subscription fees on the agreed schedule.
• Indemnify Korevra against claims arising from Customer's misuse of End User data.

4. Korevra obligations

• Maintain the Platform's availability per the Service Level Agreement (99.95% for Enterprise tier; see SLA addendum).
• Apply security patches within 7 days of vendor release for critical, 30 days for high.
• Maintain SOC 2 Type II and ISO 27001 certifications throughout the term.
• Notify Customer within 72 hours of any data breach affecting Customer's End Users.
• Provide annual third-party penetration testing reports on request.

5. Fees and billing

Fees are as stated in the Order Form. Starter and Growth tiers are billed annually in Naira. Enterprise and DFI tiers are billed in USD with quarterly NGN settlement at the CBN reference rate. The FX-protection clause in §5 of the Order Form caps any quarter-over-quarter NGN price increase at 15%.

6. Intellectual property

Korevra retains ownership of the Platform, source code, models (including SureScore), and any aggregated/anonymised data derived from operational use. Customer retains ownership of all raw End User data.

7. Limitation of liability

Korevra's aggregate liability under this agreement is capped at twelve (12) months of fees paid by the Customer in the year immediately preceding the claim. Korevra is not liable for indirect, consequential, or punitive damages, including lost profits, lost data (where Customer has not maintained adequate backups), or regulatory fines arising from Customer's misuse of the Platform.

8. Termination

Either party may terminate for material breach with 30 days written notice and opportunity to cure. On termination, Korevra will provide Customer with a complete data export in industry-standard format within 30 days, and will destroy or anonymise all Customer data within 90 days unless Customer requests longer retention.

9. Governing law and dispute resolution

This agreement is governed by the laws of the Federal Republic of Nigeria. Any dispute will first be referred to mediation under the Lagos Multi-Door Courthouse (LMDC). If mediation fails within 60 days, the dispute will be resolved by binding arbitration in Lagos under the Arbitration and Mediation Act 2023.

10. Changes

We will publish material changes 60 days before they take effect, with email notice to Customer's nominated administrator. Customer may terminate without penalty within the 60-day notice window if the changes materially disadvantage Customer.

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