Terms of Service

By registering your cooperative organisation, accessing, or using the Anchor platform, you confirm that: you are at least 18 years of age, you have the legal authority to bind your cooperative organisation to these Terms, and you have read, understood, and agree to be bound by these Terms and our Privacy Policy.

2.1 Platform Overview

Anchor is a multi-tenant Software-as-a-Service (SaaS) platform designed specifically for cooperative societies. The platform provides tools for member management, savings and loan administration, financial accounting, reporting, branch management, document management, and related cooperative operations.

2.2 Service Availability

We strive to maintain platform availability of 99.9% measured on a monthly basis, excluding scheduled maintenance windows. Scheduled maintenance will be communicated at least 24 hours in advance where possible. We are not liable for downtime caused by events outside our reasonable control.

2.3 Service Modifications

We reserve the right to modify, suspend, or discontinue any feature of the platform at any time with reasonable notice to Organisation Administrators. We will make reasonable efforts to preserve data continuity during any service modifications.

3.1 Organisation Registration

To use Anchor, your cooperative organisation must submit an application and receive approval from our team. Upon approval, we will provision a dedicated, isolated tenant environment for your organisation. You are responsible for providing accurate, complete registration information and keeping it updated.

3.2 Administrator Responsibilities

Organisation Administrators are responsible for managing user access within their organisation, maintaining the confidentiality of administrator credentials, ensuring all users comply with these Terms, the accuracy of data entered into the platform, and promptly reporting any security incidents or unauthorised access.

3.3 User Credentials

You are responsible for maintaining the confidentiality of your login credentials. You agree to notify us immediately at support@anchorcoopms.com of any suspected unauthorised use of your account. We are not liable for any loss resulting from unauthorised account access where you have failed to maintain credential confidentiality.

4.1 Permitted Use

The platform is licensed for use by legitimate, registered cooperative societies and their authorised members and administrators for lawful cooperative management purposes only.

4.2 Prohibited Activities

You agree not to: use the platform for any unlawful purpose or in violation of applicable Nigerian or international laws; upload false, misleading, or fraudulent financial data; attempt to gain unauthorised access to other tenants' data; reverse engineer, decompile, or attempt to extract the platform's source code; use automated systems, bots, or scrapers to access the platform; engage in any activity that disrupts the platform's integrity or performance; use the platform to conduct Ponzi schemes, pyramid schemes, or any fraudulent financial activity.

5.1 Data Ownership

You retain ownership of all data you input into the Anchor platform. By using the platform, you grant Anchor a limited licence to process, store, and transmit your data solely for the purpose of providing the Service.

5.2 Data Processing

Our collection and use of personal data is governed by our Privacy Policy, which is incorporated into these Terms by reference. By using the platform, you consent to data processing as described in our Privacy Policy.

5.3 Data Export

You may export your organisation's data at any time through the platform's reporting and export features. Upon account termination, we will provide a data export within 30 days of your request.

6.1 Platform Ownership

Anchor and its licensors own all intellectual property rights in the platform, including the software, design, trademarks, logos, and documentation. These Terms do not grant you any rights to use our trademarks, logos, or other brand elements without our prior written consent.

6.2 Feedback

If you submit suggestions, feedback, or ideas about the platform, you grant Anchor a perpetual, irrevocable, royalty-free licence to use such feedback without any obligation of confidentiality or compensation.

7.1 Subscription Fees

Access to the platform requires a paid subscription. Pricing is agreed upon during the application process and set out in your Service Agreement. All fees are quoted in Nigerian Naira (₦) unless otherwise agreed.

7.2 Payment Terms

Subscription fees are due in advance on the agreed billing cycle (monthly or annual). Failure to pay within 15 days of the due date may result in suspension of platform access. We will provide at least 7 days' written notice before suspending access for non-payment.

7.3 Refunds

All subscription fees are non-refundable unless required by applicable law. In the event of a service outage attributable to Anchor that exceeds our SLA commitments, you may be entitled to a service credit as set out in your Service Agreement.

8.1 Disclaimer of Warranties

The platform is provided "as is" and "as available" without warranties of any kind, either express or implied. We do not warrant that the platform will be error-free, uninterrupted, or free from harmful components.

8.2 Limitation

To the maximum extent permitted by applicable law, Anchor's total liability to you for any claim arising out of or relating to these Terms or the platform shall not exceed the amount you paid to Anchor in the 12 months preceding the claim.

8.3 Exclusions

In no event shall Anchor be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or goodwill, arising from your use of or inability to use the platform.

9.1 Termination by You

You may terminate your subscription at any time by providing 30 days' written notice to support@anchorcoopms.com. Upon termination, your access to the platform will cease at the end of the current billing period.

9.2 Termination by Anchor

We may suspend or terminate your access immediately if you materially breach these Terms, engage in fraudulent activity, fail to pay subscription fees, or if required by law. We will provide reasonable notice where legally permissible.

9.3 Effect of Termination

Upon termination, your right to access the platform ceases immediately. We will retain your data for 90 days post-termination during which you may request a data export. Financial records required for regulatory compliance will be retained as required by law.

These Terms are governed by the laws of the Federal Republic of Nigeria. Any dispute arising from or relating to these Terms or the platform that cannot be resolved through good-faith negotiation shall be submitted to the exclusive jurisdiction of the courts of Lagos State, Nigeria. Before pursuing formal legal action, both parties agree to attempt resolution through mediation for a period of 30 days.

11.1 Entire Agreement

These Terms, together with our Privacy Policy and any Service Agreement, constitute the entire agreement between you and Anchor regarding your use of the platform.

11.2 Amendments

We may update these Terms from time to time. Material changes will be communicated to Organisation Administrators via email and a platform notification at least 14 days before taking effect. Continued use of the platform after changes constitutes acceptance.

11.3 Severability

If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.

11.4 Contact

For questions about these Terms, please contact us at: legal@anchorcoopms.com or write to Anchor Cooperative Management Software, Lagos, Nigeria.