INTRODUCTION

The BRASSMONEY Savings Product Service, website and/or software application (collectively, the “Savings Service”) enables you to deposit and withdraw money services in accordance with our products under these Saving Products Terms and Conditions (the “Savings Terms”).

These Savings Terms represent an agreement between you (“you”, “your”) and Brass Technology Services Nigeria Limited. ("Brassmoney Savings") and contain the terms and conditions governing your use of and access to our savings product [“Savings Product”] and all affiliated websites owned and operated by us (collectively, the "Website") and our products, services, and applications (together with the Website, the "Services").

These Savings Terms also contain important disclosures and information about your Brassmoney Savings Account. By using Brassmoney Savings, you agree to be bound by these Savings Terms, the General Terms of Service, the Privacy Notice and any additional terms specific to Services you use, and all other terms, policies, and guidelines applicable to the Services

(the “Terms”) . Defined terms will have the same meaning as those found in the General Terms, unless otherwise defined here. In the event of a conflict between these Savings Terms and the General Terms, the provisions of the General Terms of Service shall prevail.

"You" and "your" mean the users or accessors to the Services. "We," "us," and "our" mean Brass and its successors, affiliates, and assignees. As used in these Terms, "Brassmoney Savings Account"or “Savings Account” means the account you have with us for the Services.

Your use of and access to this Brassmoney Savings Service are subject at all times to the Terms. Please read these Terms and our Privacy Policy, carefully. By using or accessing the Services, you represent that you have read and understand all the Terms and our Privacy Policy and you agree to be bound by these Terms and our Privacy Policy. If you do not agree to the Terms including the Savings Terms do not use or access this Service.

REGISTRATION AND REQUIREMENTS TO USE THE SERVICE

You must be a resident of the Federal Republic of Nigeria, at least eighteen years old, and register by providing all the information we ask for, which includes a working mobile phone number, a legitimate residential or business address, a working email address, a bank account with a Nigerian financial institution, identification, and any other information we might occasionally ask for (collectively, "User Information").

You guarantee that the information you submit when registering for a savings account is truthful, accurate, and comprehensive. You will be permitted to utilise the Services if your registration is approved, subject to the Terms and these Savings Terms.

According to our Privacy Policy, which is posted and updated on our mobile and online application (the "Platform"), your personal information is extremely safeguarded. Only after your identity has been confirmed and our Know-Your-Customer (KYC) process has been completed with you as part of our onboarding process will the Savings Product be made available to you.

In order to ensure that we are able to provide Communications to you electronically, you must notify us of any change in your email address and your mobile device number, other text message address or email address by updating your profile on the Application provided, however, that you must notify us at least three (3) Business Days before any changes to your bank account information, including, but not limited to, the closure of your bank account for any reason by calling

07045011091

www.brassmoney.com

PURPOSE AND USE OF THE SERVICE

The purpose of the Services is to try to help you save money with minimal effort. You can request for your savings at any time on any of our payout days.

Your funds will remain in your Brassmoney Savings Account until you instruct us to transfer any or all of your funds from your Brassmoney Savings Account to your Main Brassmoney Account or to your selected sub account for Brassmoney Pro users.

Please note that if you do not have sufficient available funds in your Savings Account to cover the amount of the requested transfer, your request for the transfer will be declined.

You can use the funds in your Savings Account for any applicable legal use, whether it’s online or offline. We may also transfer funds from your Savings Account to your bank account without notice to you upon the closure of your Account as described below and at any time if required by applicable law or if we, in our sole discretion, suspect the Services are being used for illicit purposes or otherwise in violation of these Savings Terms.

EARNING AND INTERESTS

Types of Savings

1. Fixed Deposit

   This is a type of savings that enables customers earn interest on a fixed amount which cannot be withdrawn until maturity.

   • Rate: 12-18% per annum

   • Tenure: 30, 60, 90, 120 and 180 days

   • Minimum deposit: N100,000

   • Funds can not be withdrawn until maturity

   • Interest is earned daily

2. Target Savings

   This is a type of savings that enables our customer save towards a personal goal.

   • Rate: 6-8% per annum

   • Tenor: 3 months minimum (90 days - 6%, 90-180 days - 7%, More than 180 days - 8%)

   • Minimum deposit: At least 5% of the savings goal

   • One free withdrawal in a month (On the day you create the savings. I.e. if you create it on the 12th, every 12th you have one free withdrawal)

   • Withdrawal penalty is 1% of the amount withdrawn if withdrawing more than once a month.

   • Interest is earned daily

3. Flexible Savings

   This is a type of savings that enables customers earn interest on funds that they do not have an immediate need for.

   • Rate: 5.5% per annum

   • Tenor: Save as you will

   • 5 free withdrawals every month

   • Penalty for 6th withdrawal is forfeiting 50% of the interest earned

   • Interest is applied at the end of month on the average balance

FRAUD, RESTRICTIONS AND PENALTIES

You understand and agree that we may suspend your account right away and keep the funds while we conduct an investigation if the monies in your Savings Account have been reported as suspicious or have been suspected of being fraudulent.

Should you choose to place a lock on any sum in your Savings Account, it will stay in effect for the predetermined amount of time. You agree that we may charge you a penalty for removing the account lock and that we may deduct that penalty amount right away from the balance in your Savings Account if you choose to do so before the scheduled date.

COMMUNICATION AND NOTICES

By using the Savings Product you hereby expressly consent to receive emails relating to the services at that number or address provided at the point of registrations and as duly updated from time on your profile. Third-party data and message fees may apply. To verify your mobile device number or text message address, we may send you a code via text message to the mobile device number or text message address you provide, and you must enter that code as instructed by us. If you change your mobile device number or text message address, you must promptly provide and verify your new mobile device number or text message address.

In addition, we may send you important notices via email and to your registered email about the Services.

AUTHORIZATIONS AND THIRD PARTY WEBSITES

By using the Services and giving us User Information, you automatically give us permission to obtain information about you and your bank account from the financial institution that holds your bank account as well as other third-party websites and databases as needed to provide the Services to you, directly or indirectly through our third-party service providers, and without any time limit or requirement to pay any fees.

In order for us to carry out this authorization, you hereby grant a limited power of attorney to us and our third-party service providers, and you hereby designate us and our third-party service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, place, and stead, in any and all capacities, to access websites, servers, and documents operated by third parties; retrieve information; and use your User Information, all as previously mentioned. You also give us the full authority to carry out the acts and tasks that must be completed in connection with these activities, as fully as you might or could accomplish in person.

PRIVACY

By using the Savings Product, you agree to our privacy policy, which controls how we gather and handle the personal data you provide to us, going forward.

WARRANTIES

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THE TERMS, YOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THE SERVICES AND ALL INFORMATION, PRODUCTS, AND OTHER CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE SERVICES IS AT YOUR SOLE RISK. THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY WARRANTY OF ANY KIND.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE AND OUR THIRD-PARTY SERVICE PROVIDERS EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE FUNCTIONS OR CONTENT CONTAINED IN THIS APP WILL BE INTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THIS SITE OR SERVER THAT MAKES IT AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. WE DO NOT WARRANT OR MAKE ANY REPRESENTATION REGARDING USE, OR THE RESULT OF USE OF THE CONTENT IN TERMS OF ACCURACY, RELIABILITY, OR OTHERWISE INCLUDING THE CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO THE APP, WHICH MAY BE AFFECTED BY FACTORS OUTSIDE OUR CONTROL OR MAY BE SUBJECT TO PERIODIC TESTING, REPAIR, MAINTENANCE OR UPGRADES. THE CONTENT MAY INCLUDE TECHNICAL ERRORS AND THE COMPANY MAY MAKE CHANGES, OR IMPROVEMENTS AT ANY TIME. YOU, AND NOT US, ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING REPAIR OR CORRECTION IN THE EVENT OF ANY LOSS OR DAMAGE ARISING FROM THE USE OF THIS APP OR IT’S CONTENT. WE MAKE NO WARRANTIES THAT YOUR USE OF THE CONTENT WILL NOT INFRINGE THE RIGHTS OR OTHERS AND ASSUME NO LIABILITY OR RESPONSIBILITY FOR ERRORS OR OMISSIONS IN SUCH CONTENT.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE THAT BRASS, ITS AFFILIATES, AND ITS AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, AND THIRD-PARTY SERVICE PROVIDERS WILL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR (A) THE PERFORMANCE OF THE SERVICES OR THE INABILITY TO USE THE SERVICES; (B) 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; (C) ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF 10,000 NAIRA OR THE AMOUNT TRANSFERRED FROM YOUR DEBIT CARD TO YOUR BRASS ACCOUNT VIA THE SERVICES; OR (D) 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.

INDEMNITY

At our request, you agree to defend, indemnify, and hold harmless Brass, our affiliates, and its and our respective employees, officers, directors, agents, and third-party service providers from and against any and all claims, suits, liabilities, damages (actual and consequential), losses, fines, penalties, costs, and expenses (including reasonable attorney fees) arising from or in any way related to any third-party claims relating to your use of the Savings Product, violation of the Terms, applicable law or any third-party rights, or your fraud or willful misconduct. Kudi reserves the right to assume the exclusive defence and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defences.

DISPUTE RESOLUTION

These Terms will be governed and interpreted pursuant to the laws of the Federal Republic of Nigeria.

Any and all disputes, claims or litigation arising from or related in any way to this Terms or any provisions herein will be resolved by mediation at the Lagos Multi Door Court House, Lagos State, Nigeria. Where such dispute persists, it shall then be resolved by Nigerian Courts in Lagos State. The parties hereby waive any objections against and expressly submit to the exclusive jurisdiction of the Nigerian Courts in Lagos State

MISCELLANEOUS

a. Taxes

You will be responsible for paying, withholding, filing, and reporting all taxes, duties, and other governmental assessments associated with your activity in connection with the Services, provided that we may, in our sole discretion, do any of the foregoing on your behalf or for ourselves.

b. Waiver

The enforceability or otherwise of any provisions of these Saving Terms shall not affect the enforceability of the rest of these Saving Terms and the Terms.This Agreement will not be assignable or transferable by you.

c. No Partnership

You hereby acknowledge and agree that you are not an employee, agent, partner, or joint venture of Brass, and you do not have any authority of any kind to bind Brass in any respect whatsoever.

d. Change of Terms

We may revise these Saving Terms at any time by updating this posting. We may discontinue the Savings Product (temporarily or permanently) or change any information, content, feature or service at any time with or without notice. We also retain the right to create limits on use of the Savings Product at our sole discretion. Your use of the Services after such changes are implemented constitute your acknowledgement and acceptance of the changes. Please consult the Terms of use regularly to acquit yourself with any changes that may apply.

e. Termination

We reserve the right to terminate your use of the Service if you violate any of the Terms or any rules or guidelines posted on the Platform or for any other reason at our discretion.

f. Proprietary Rights

Using the Platform does not give you ownership of or any rights to any materials, functionalities, operations and content on the Platform, all of which are owned exclusively and reserved by us and protected by copyright and other intellectual property rights.

g. Account Closure

Users with existing savings plan (this includes shared account users) cannot close their Brassmoney account. If a user’s savings plan has not matured (hence status is active) or the plan has matured but they have not yet withdrawn( for context once a plan matures, proceeds are not automatically added to the balance. Rather the funds would have to withdrawn or moved to their main account themselves), it means they still have existing savings plan hence will need to move their funds to their preferred account (which are main Brassmoney account and/or sub account for pro users; but still within the Brassmoney app)