Terms of Service

1. Introduction

Welcome to Urgent2K, a peer-to-peer lending platform operated by Hustle 360 Ltd ("we," "us," or "our"). By accessing or using Urgent2K (the "Platform"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, please do not use the Platform.

2. Definitions

• "Lender" – A user who provides funds to borrowers through the Platform.
• "Borrower" – A user who receives funds from lenders through the Platform.
• "Loan" – A financial transaction between a lender and borrower facilitated by the Platform.
• "Credit Score" – A numerical representation of a user's borrowing and repayment history on the Platform.

3. Platform Role & Limitations

3.1 What We Do

• Provide a platform for lenders and borrowers to connect
• Track loan agreements, payment schedules, and transaction history
• Calculate and display credit scores based on user behavior
• Facilitate payments through third-party payment processors
• Send reminders and notifications about upcoming payments

3.2 What We Do NOT Do

• Lend money or act as a financial institution
• Guarantee loan repayment or borrower creditworthiness
• Provide investment advice or recommendations
• Pursue legal action on behalf of lenders for unpaid loans
• Insure or protect lenders against borrower defaults

4. User Responsibilities

4.1 Account Registration

You must provide accurate, complete information during registration. You are responsible for maintaining the confidentiality of your account credentials.

4.2 Identity Verification (KYC)

All users must complete identity verification using their National Identification Number (NIN) or Bank Verification Number (BVN). This is required by Nigerian law and helps prevent fraud.

4.3 Lender Responsibilities

• Conduct your own due diligence before lending
• Understand that loans may not be repaid
• Only lend what you can afford to lose
• Set fair and legal interest rates
• Comply with all applicable lending laws

4.4 Borrower Responsibilities

• Repay loans according to agreed terms
• Maintain accurate contact information
• Communicate proactively if unable to make payments
• Understand that defaults will affect your credit score
• Only borrow what you can realistically repay

5. Credit Scoring System

Your credit score on Urgent2K is calculated based on:

• On-time payment history
• Total number of loans taken and repaid
• Number of active loans
• Default history
• Length of account history
• KYC verification status

Credit scores are publicly visible to help lenders make informed decisions. Scores update automatically as you complete transactions on the Platform.

6. Prohibited Activities

You may NOT use the Platform to:

• Engage in fraudulent activities or money laundering
• Provide false information or impersonate others
• Charge interest rates exceeding legal limits
• Use the Platform for commercial lending without proper licensing
• Harass, threaten, or abuse other users
• Attempt to manipulate credit scores
• Create multiple accounts to circumvent restrictions

7. Payment Processing

We use third-party payment processors (Flutterwave, Paystack, Monnify) to facilitate transactions. By using the Platform, you agree to their respective terms of service.

We charge transaction fees for payment processing. Current fees are displayed before you confirm any transaction.

8. Liability & Disclaimers

THE PLATFORM IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, HUSTLE 360 LTD SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES ARISING FROM YOUR USE OF THE PLATFORM.

9. Dispute Resolution

Disputes between users should be resolved directly between the parties. We may provide tools to facilitate communication but are not obligated to mediate or resolve disputes.

If you cannot resolve a dispute with another user, you may pursue legal remedies under Nigerian law.

10. Account Termination

We reserve the right to suspend or terminate your account if you:

• Violate these Terms of Service
• Engage in fraudulent activity
• Fail to complete KYC verification
• Have outstanding disputes or unpaid obligations

11. Changes to Terms

We may update these Terms from time to time. We will notify you of significant changes via email or in-app notification. Continued use of the Platform after changes constitutes acceptance of the new Terms.

12. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of Nigerian courts.

13. Contact Information