Terms of Service & Exchange

1. Acceptance of Terms & Eligibility

By accessing, creating an account on, or transacting via agric.farm (“the Platform”), you acknowledge that you have read, understood, and agreed to be legally bound by these Terms of Service. To participate in farm sponsorships or harvest flips, you must be at least 18 years of age and legally capable of entering into binding financial contracts under the laws of the Federal Republic of Nigeria.

2. Nature of the Platform

agric.farm operates as a decentralized agro-tech marketplace and sponsorship exchange. The Platform facilitates direct capital allocation from sponsors to verified smallholder agricultural cooperatives and partner farms. agric.farm provides cold-chain haulage oversight, distribution logistics, and settlement automation to ensure fair farmgate purchase pricing and transparent urban wholesale-to-retail offloading.

3. The 7-Day Harvest Resale Flip Agreement

For produce categorized under “7-Day Harvest Resale Flips” (including but not limited to plum tomatoes, cabbages, watermelons, and peppers), the following payout schedule is contractually established:

• Day 3 Interim Settlement: Exactly forty percent (40%) of the projected net profit is credited to the sponsor's available wallet balance upon wholesale depot offloading.
• Day 7 Maturity Settlement: The remaining sixty percent (60%) of the net profit, along with one hundred percent (100%) of the initial sponsored capital, is credited to the sponsor's wallet upon retail clearance.
• Platform Maintenance Fee: A flat fee of five percent (5%) is deducted exclusively from the gross profit prior to net profit calculation. The sponsor's principal capital is never subject to maintenance deductions.

4. Farm Sponsorship from Scratch

Sponsorship contracts involving live biological assets (poultry units, livestock fattening feedlots, and heliculture facilities) span defined seasonal horizons (6 to 24 weeks). Sponsors receive periodic digital progress logs documenting brooding, feeding, weight development, and veterinary milestones. Full capital and stipulated ROI (up to 60%) are settled at cycle completion following offtake delivery.

5. Payment Rails & Direct Bank Transfers

All account funding and checkout orders are processed using dedicated dynamic virtual accounts issued through regulated Nigerian banking infrastructure. Transfers must match the exact invoice amount and reference. Payments are automatically verified and credited to active contracts upon detection on interbank rails.

6. Withdrawals & Payouts

Sponsors may request payouts of available wallet balances at any time, subject to a minimum withdrawal threshold of ₦2,000. All withdrawals require valid 10-digit Nigerian NUBAN account numbers and matching account names. Withdrawals are queued for operational review and manually dispatched via standard NIBSS interbank clearing batches to ensure treasury security.

7. Referral Incentive Program

Registered sponsors are assigned unique referral codes. When a new user signs up using a referral link and executes their first confirmed produce purchase or farm sponsorship, the referring user receives a one-time commission equal to five percent (5%) of that initial transaction value, deposited directly into their available wallet balance.

8. Agricultural Risk Management & Underwriting

Agricultural cycles are subject to natural factors, including weather fluctuations, pest risks, and transport logistics. To protect sponsor capital, partner farm facilities are subject to comprehensive institutional underwriting coverage against livestock mortality, flood, and fire. In the event of an insured incident, claims are processed to safeguard principal capital.

9. Governing Law & Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising out of or in connection with these Terms shall first be addressed through good-faith negotiation with our operations desk, failing which it shall be referred to arbitration in Lagos, Nigeria.