Terms of Service

1.1 Group Creation and Membership Roles

The user who creates a group is the Group Organizer. The Organizer sets initial group parameters (name, contribution amount, cycle, Equb type, start date). The Organizer's operational role is limited to this configuration; all subsequent operations are managed by the Platform's automated systems. Group names must be unique and must not contain offensive, illegal, or infringing content. The Company may remove or reject group names at its discretion.

Users who join a group are Regular Members. Eligibility requires meeting the Platform's criteria, including a minimum Trust Score, contribution of the applicable Cycle Entry Contribution, and compliance with all group rules. All members, including the Organizer, are equally bound by the group's financial obligations. The Organizer has no personal liability for other members' unfulfilled contributions.

Private groups require a valid invitation to join. Groups start in a PENDING status and become ACTIVE only upon meeting minimum member and first-time contribution requirements. If requirements are not met, the group is cancelled, and contributions are returned.

1.2 Contribution Obligations

Each group has a fixed contribution amount and frequency set at creation. Members must contribute the full amount when due. No partial contributions are accepted. These are binding group contribution commitments. Failure to contribute triggers the automated community protection actions described in these Terms.

Groups operate as Standard Equb (one contribution per cycle) or Premium Equb (multiple contributions between cycles). The Platform manages all scheduling and tracks contribution status for each member.

1.3 Selection and Payout System

The Platform uses a secure, randomized process to select Cycle Recipients, designed to ensure fairness in a structured rotation. All selections are permanently recorded and visible to group members. In a Standard Equb group, one recipient receives the full pot per cycle. In a Premium Equb group, multiple recipients share the pot equally. Each member may be selected as a recipient only once per round.

Only members with fully satisfied contribution obligations are eligible for selection. If administrative slots are configured, the Organizer may receive a priority payout in the first round, after which standard rules apply.

Recipients receive their payout processed directly through licensed third-party payment gateway services. Payouts may require identity (KYC) and Trust Score verification before release. Withdrawals to bank accounts are processed through integrated third-party payment services and may incur separate Gateway Processing Costs.

1.4 Delinquency and Member Classification

Contributions not received within the grace period are classified as delayed and incur a Delayed Contribution Adjustment as defined in the Platform's published schedule. If non-contributing members exceed a group's tolerated threshold, the group stops automatically. The current cycle is cancelled, no recipient is selected, and the group ends permanently.

Member classifications are based on contribution and selection history:

Unfulfilled Recipient: A member who has been selected as a recipient and subsequently misses a contribution.

Exiter: A member who has not been selected as a recipient and misses a contribution.

Innocent Recipient: A member who has been selected as a recipient and contributed all dues on time.

Innocent Payer: A member who has not been selected as a recipient and has contributed all dues on time.

Unfulfilled Recipients are subject to Delayed Contribution Adjustments and potential Reserve Allocation Reconciliation. Exiters lose certain restoration rights and may forfeit a portion of their Community Pledge. Members may restore their status by contributing all missed amounts, provided the group has not stopped. This does not constitute Recurring Cycle Continuity; you must make an affirmative manual contribution. Exiters cannot restore status after a group has stopped.

1.5 Community Pledge and Safety Reserve

Upon joining, each member contributes a Community Pledge, which is held to cover unfulfilled contribution cycles within that group. The amount is disclosed before you join. The Company may contribute to this pledge at its discretion.

A Safety Reserve is required from each member before any payout is released. The Platform assesses and scores all Safety Reserve amounts provided. If an Unfulfilled Recipient misses contributions, their Safety Reserve may be reconciled to cover outstanding obligations. The collective Community Pledge pool is never used for Member Reconciliation.

1.6 Member Reconciliation

If a group stops, reconciliation occurs at the end of the round. Unfulfilled Recipients' Safety Reserve is reconciled into a return pool. Returns are distributed as follows: Innocent Payers receive a return of their contributions and Community Pledge. Innocent Recipients receive a return of their Community Pledge. Exiters receive a return of contributions and a portion of their Community Pledge. Unfulfilled Recipients receive a portion of their Community Pledge, less applicable Delayed Contribution Adjustments. All returns are processed simultaneously.

If a group completes normally, all members have been selected once, Community Pledges are returned in full, and no Safety Reserve is reconciled.

1.7 Payment Processing

All financial transactions are processed and held exclusively through licensed third-party payment gateway services. The Platform does not hold user funds. All transaction records, including contributions and payouts, are visible in your transaction history. External payment methods are subject to the terms and Gateway Processing Costs of the respective providers; the Company is not responsible for their delays or charges.

2.1 Account Security and Verification

You are solely responsible for maintaining the confidentiality of your account credentials and for all activity under your account. You must enable available security features and immediately notify us of any suspected unauthorized access. Prohibited activities include creating multiple accounts, sharing credentials, fraud, money laundering, and any use violating applicable law. The Company reserves the right to require identity verification (KYC) at any time.

2.2 Platform Role Disclaimer

Family Equb PLC operates a technology platform facilitating digital Equb groups. The Company is not a bank, deposit-taking institution, or lender. All funds and transactions are processed and held by licensed third-party payment processors. The Equb model is a structured, community-based savings mechanism. Financial obligations are primarily between group members; the Company does not guarantee member performance. We may cancel groups, suspend users, or intervene in cases of fraud, systemic risk, or policy violations.

2.3 Gateway Processing Costs

The Company charges Gateway Processing Costs on certain transactions, disclosed per the published schedule. An Organizer Allowance, if configured, is disclosed at group setup. Additional charges may include Delayed Contribution Adjustments. All costs are clearly disclosed before you incur them. The Company may update its cost structure with reasonable notice.

2.4 Limitation of Liability and Indemnification

To the fullest extent permitted by law, the Platform is provided on an "as is" and "as available" basis. We disclaim all warranties, express or implied. The Company shall not be liable for indirect, incidental, or consequential damages, nor for missed contributions, contribution failures, user error, or actions of third-party providers. The Company's total aggregate liability shall not exceed the Gateway Processing Costs you paid to the Company in the twelve months preceding the claim. Nothing in these Terms limits liability for fraud, gross negligence, or any matter that cannot be excluded by law. You agree to indemnify Family Equb PLC from any claims arising from your violation of these Terms or misuse of the Platform.

2.5 Intellectual Property

All rights in the Platform, including software, designs, logos, and the "Family Equb" brand, are exclusively owned by Family Equb PLC. You are granted a limited, non-exclusive, non-transferable license to use the Platform for lawful Equb activities. You may not copy, modify, or create derivative works of the Platform.

2.6 Governing Law and Dispute Resolution

These Terms are governed by the laws of Ethiopia. Disputes shall first be addressed through our internal grievance process. If unresolved, parties may submit to mediation in Addis Ababa, and thereafter to binding arbitration. Class actions and jury trials are waived to the extent permitted by law.