Merchant Terms of Service

1. Acceptance of Terms

These Merchant Terms of Service ("Terms") govern your access to and use of the Fondz merchant dashboard at invoice.fondz.io and any associated storefront, invoicing, payments, and business management tools (the "Platform"), operated by Fondz Digital LTD. ("Fondz", "we", "us"). By creating a merchant account or otherwise using the Platform, you agree to be bound by these Terms. If you do not agree, you may not use the Platform.

2. Eligibility & Account Registration

You must be at least 18 years old and legally able to enter into binding contracts to register as a Merchant. You agree to provide accurate, current, and complete information during registration and to keep your account details up to date. You are responsible for all activity that occurs under your account, including actions taken by team members you invite, and for keeping your login credentials confidential.

3. KYC & Identity Verification

To activate certain features, including payouts and higher transaction limits, you must complete Know-Your-Customer (KYC) verification. This may require your business information, CAC registration number, business address, and representative identification such as BVN, NIN, international passport, or driver's license. You authorize Fondz to verify this information with third-party providers and confirm that all submitted documents are genuine and belong to you or your authorized representative. Fondz may suspend or limit account features where verification is incomplete, fails, or is found to be fraudulent.

4. Storefront, Invoicing & Order Management

Fondz gives you tools to list products, generate and send invoices, manage orders, track stock through the inventory and stock ledger, run purchasing with your suppliers, and manage customers through the built-in CRM. You are solely responsible for the accuracy of your product listings, pricing, invoices, and the description, quality, legality, and delivery of goods or services you sell. Fondz is not a party to the underlying sale between you and your customer and does not guarantee any transaction.

5. Payments, Payouts & Wallet

Payments from customers are processed through our licensed payment partners (including Paystack) and settled to your Fondz wallet before being paid out to your verified bank account. Payout amounts reflect order value net of any applicable service charge, VAT, and delivery fee treatment as configured on the Platform. You are responsible for providing accurate bank account details; Fondz is not liable for payouts sent to an incorrect account resulting from information you provided. Withdrawal requests are processed within our standard settlement timelines, which may vary based on your payment partner or bank.

6. Fees & Subscription Plans

Fondz operates a tiered commission model. Free-Tier merchants are charged a platform service commission of 5% of each order's value, capped at ₦10,000 per order — this is charged to you as the Merchant, deducted from your available balance once an order is accepted and delivered, and is not added to the price your Customer pays. Merchants subscribed to Fondz Premium (currently ₦50,000 per month, billed monthly with no fixed commitment) pay this commission at a rate of 0%. Current pricing, plan features, and any changes to this commission structure are displayed on the Platform (including the Upgrade/Premium page) and may be updated from time to time with reasonable notice. Fees already incurred on transactions, or for subscription periods already paid for, are non-refundable except where required by law or expressly stated otherwise.

7. Team Members, Roles & Permissions

You may invite employees or team members and assign them roles and permissions through the HR and team management tools. You are responsible for the actions of any user you grant access to your account and for promptly removing access when a team member's role ends. Fondz is not responsible for losses arising from access you have granted to others.

8. Customer Data & Privacy

In the course of using the Platform, you will collect and process personal data belonging to your customers (such as names, phone numbers, and delivery addresses). You agree to handle this data lawfully, to use it only for legitimate business purposes connected to your store, and to comply with applicable data protection law, including the Nigeria Data Protection Act. Fondz processes data submitted through the Platform in accordance with our Privacy Policy.

9. Prohibited Products & Conduct

You may not use the Platform to list or sell counterfeit, stolen, illegal, or regulated goods without proper authorization, to launder money, to circumvent Fondz fees, to misrepresent your identity or business, or to engage in fraudulent chargebacks or fictitious transactions. Fondz reserves the right to remove listings, freeze wallet balances, or suspend accounts reasonably suspected of violating this section pending investigation.

10. Intellectual Property

The Fondz name, logo, dashboard design, and underlying software remain the property of Fondz Digital LTD. You retain ownership of the product content, images, and business data you upload, and you grant Fondz a limited license to host, display, and process that content solely to provide the Platform to you and your customers.

11. Service Availability & Liability

We work to keep the Platform available and reliable but do not guarantee uninterrupted access, and scheduled maintenance or third-party outages (such as with payment or verification providers) may occasionally affect service. To the maximum extent permitted by law, Fondz's liability for any claim arising from your use of the Platform is limited to the fees you paid to Fondz in the three months preceding the claim, and Fondz is not liable for indirect or consequential losses, including lost profits or lost sales.

12. Indemnification

You agree to indemnify, defend, and hold harmless Fondz Digital LTD, its directors, officers, employees, and agents from and against any claims, damages, liabilities, losses, and expenses (including reasonable legal fees) arising out of or related to: your breach of these Terms; your violation of any applicable law; or your infringement of any third-party right. This includes, without limitation, any claim brought by a trademark, copyright, or other intellectual property rights holder arising from your listing or sale of counterfeit, replica, or otherwise unauthorized branded goods in violation of Section 9. Fondz reserves the right, at your expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which case you agree to cooperate with Fondz's defense of that claim.

13. Suspension & Termination

You may close your merchant account at any time, subject to settlement of any pending orders, invoices, or wallet balances. Fondz may suspend or terminate your account for breach of these Terms, suspected fraud, failed KYC verification, or extended inactivity, and will make reasonable efforts to notify you and release any funds owed to you, less any amounts properly due to Fondz.

14. Governing Law & Changes to These Terms

These Terms are governed by the laws of the Federal Republic of Nigeria. We may update these Terms from time to time to reflect new features or legal requirements; material changes will be communicated through the dashboard or by email, and continued use of the Platform after changes take effect constitutes acceptance of the revised Terms.

Contact Us

If you have any questions, concerns, or complaints about these Terms or your use of the Platform, please contact us via Whatsapp or send an to hi@fondz.io.

Last update: August 20th, 2026