Terms and Conditions

These Terms and Conditions govern the use of the Nuvion Land Banking App (the “Platform”), operated by Nuvion Homes Ltd (the “Company”).

The Platform enables customers to acquire land through an agreed instalment payment arrangement, making land ownership more accessible and affordable.

The Platform is strictly a land purchase and payment platform and is not an investment platform. Payments are for the purchase of selected land or plots and do not constitute an investment, deposit-taking scheme, savings product, or financial instrument. The Company does not promise investment returns, interest, dividends, or profits on amounts paid.

By registering on the Platform, selecting a property, or making a payment, the customer acknowledges that they have read, understood, and unconditionally agree to be bound by these Terms and Conditions.

2.1. Customers shall select their preferred property from the estates and available land options displayed on the Platform or otherwise officially offered by the Company.

2.2. Every payment made through the Platform shall be applied strictly towards the purchase price of the property selected by the customer.

2.3. The customer shall ensure that the selected property, payment plan, applicable price, and other relevant details are correctly identified before making payment.

2.4. The Company reserves the right to verify customer information and payment records before confirming a transaction or proceeding with allocation.

2.5. A payment receipt or electronic confirmation shall serve as evidence of payment but shall not, by itself, constitute a final allocation document or a transfer of legal title to the property.

3.1. The minimum initial deposit shall be the price of at least 2sqm (square meters) this is determined based on the estate selected by the customer.

3.2. The applicable initial deposit must be paid before the customer's instalment payment plan can be activated.

3.3. The minimum initial deposit shall apply to the acquisition of a land package comprising at least two (2) square meter, subject to the Company's approved property offerings and payment schedule.

3.4. The initial deposit forms part of the purchase price and shall be credited towards the total amount payable for the selected property. It shall not be treated as an investment or as a separate fee unless expressly stated in writing by the Company.

3.5. The customer shall be informed of the total purchase price, payment duration, instalment amounts, and outstanding balance before or at the commencement of the payment plan.

4.1. The Platform permits customers to pay for their selected properties by instalments over a period of at most, five (5) years, subject to the applicable payment plan agreed upon with the Company.

4.2. Each customer shall be provided with a payment schedule specifying the amount payable, frequency of payment, applicable due dates, and total purchase price.

4.3. Customers are expected to make payments in accordance with their agreed schedules and to retain their payment receipts and transaction references.

4.4. Where a customer wishes to pay off the outstanding balance before the end of the agreed payment period, such customer may do so, subject to confirmation of the outstanding balance by the Company.

4.5. No customer shall be deemed to have completed payment until the Company has verified and confirmed receipt of the full purchase price and any other charges expressly disclosed and agreed upon.

4.6 No Reservation Rights on Incomplete Payments: A Subscriber does not hold exclusive rights to a specific physical plot or block on a layout until the entire subscription price for the target plot is paid in full.

4.7. Relocation Provision: In the event that a specific estate site or project layout gets sold out before the Subscriber completes their installment payments, the Company explicitly retains the right to relocate the Subscriber to another site or layout of equivalent value, size, and commercial viability within Abuja.

4.8. Notice of Relocation: The Company will issue a formal notification via the App and registered email to the Subscriber once a site is nearing full capacity urging the completion of payments to avoid relocation.

5.1. A customer is deemed to be in default where they fail to make an instalment payment by its agreed due date and fail to regularize the outstanding payment within any applicable grace period communicated by the Company.

5.2. Where a customer experiences a payment default within the first six (6) months of the payment plan, the Company shall, subject to availability and verification of the customer's payment records, make an alternative property allocation available to the customer.

5.3. Any alternative property offered under this clause shall be of equivalent price and size to the original property paid for, as reasonably verified by the Company. The alternative allocation shall be subject to the availability of a suitable property within the Company's estates.

5.4. The Company shall notify the customer of the proposed alternative property and the applicable allocation arrangements before the substitution is concluded.

5.5. An alternative allocation shall not entitle the customer to demand a property of a higher value or larger size without paying the applicable difference, where any such upgrade is agreed upon.

5.6. Where the proposed alternative property is unavailable, the Company shall communicate the available options to the customer and seek an appropriate resolution in accordance with these Terms and Conditions and the applicable sale agreement.

5.7. This clause shall not be interpreted as automatically cancelling the customer's payment obligation or entitling the customer to a refund unless the conditions for a refund under these Terms and Conditions are satisfied.

6.1. The Company recognizes that exceptional and unforeseen circumstances may affect a customer's ability to continue with an instalment payment plan.

6.2. Such circumstances may include, but are not limited to:

a. Involuntary loss of employment or a significant and demonstrable loss of the customer's primary source of income;

b. A serious medical emergency requiring surgery or prolonged medical treatment;

c. A life-threatening health condition that materially affects the customer's ability to continue making payments; or

d. Other exceptional circumstances beyond the customer's reasonable control, which the Company considers sufficient to justify a refund application.

6.3. A customer seeking a refund on any of the above grounds shall submit a formal written application to the Company's physical office.

6.4. The application shall state the reason for the request and shall be accompanied by relevant supporting documents where reasonably necessary. Such documents may include medical reports, evidence of involuntary job loss, or other records substantiating the circumstances relied upon.

6.5. Submission of a refund application does not automatically guarantee approval. The Company shall review the application and notify the customer of its decision in accordance with these Terms and Conditions and applicable law.

6.6. The Company shall not treat ordinary changes of mind, a preference for another investment or property, or a customer's voluntary decision to discontinue the payment plan as automatically qualifying for a refund under this exceptional-circumstances clause.

7.1. Subject to approval under Clause 6, a customer shall qualify for consideration of a refund under this clause only where the customer has paid an amount equivalent to at least fifty per cent (50%) of the total agreed purchase price of the selected property.

7.2. Where a refund is approved, the Company shall refund seventy per cent (70%) of the total amount actually paid by the customer towards the purchase price.

7.3. The remaining thirty per cent (30%) of the amount paid shall be retained by the Company as the agreed cancellation and administrative charge, subject to applicable law and any binding agreement governing the transaction.

7.4. For clarity, the refund shall be calculated on the amount actually paid by the customer, not on the full purchase price of the property.

Illustration: If a customer has paid ₦1,000,000 towards a property and is approved for a refund under this clause:

• Total amount paid: ₦1,000,000.
• Refund payable at 70%: ₦700,000.
• Amount retained at 30%: ₦300,000.

7.5. Due to the non-liquid nature of real estate asset classes, refunds will be processed within ninety (90) to one hundred and twenty (120) business days from the date of approval of the refund request.

7.6. Refunds shall be processed through the Company's designated procedure and, where practicable, returned to the verified account or payment source used by the customer.

7.7. The customer shall not be entitled to interest, investment returns, compensation for anticipated appreciation in land value, or any other financial benefit on the amount refunded.

7.8. The Company shall communicate its decision and the applicable refund calculation to the customer. The refund shall be processed within a reasonable period communicated to the customer, subject to verification, completion of necessary documentation, and applicable law.

7.9. Nothing in this clause shall exclude a refund or other remedy that the customer is legally entitled to receive under applicable law.

8.1. Upon confirmation of full payment of the agreed purchase price, the Company shall proceed with the allocation of the selected property to the customer.

8.2. Allocation shall be initiated promptly following confirmation of full payment and completion of the Company's necessary verification and documentation procedures.

8.3. The allocation documents shall be made available to the customer either physically at the Company's office or electronically through the email address provided by the customer.

8.4. Customers are responsible for providing accurate contact information, including a valid email address, and notifying the Company of any changes to such information.

8.5. The customer shall inspect and verify the allocation documents upon receipt and promptly notify the Company of any discrepancy.

8.6. Allocation documentation shall be issued in accordance with the Company's applicable land documentation procedures and the legal requirements governing the property.

8.7. Allocation under this clause does not dispense with any statutory consent, registration, perfection, survey, title documentation, or other legal formality required to establish or perfect the customer's interest in the property.

Every customer using the Platform shall:

a. Provide accurate, complete, and up-to-date personal and contact information;

b. Select the intended property and payment plan carefully before making payment;

c. Make instalment payments in accordance with the agreed schedule;

d. Retain payment receipts and other transaction records;

e. Submit accurate information and genuine supporting documents when applying for a refund or requesting a change to a payment arrangement;

f. Cooperate with reasonable verification and documentation procedures; and

g. Read and comply with these Terms and Conditions and any applicable property-specific sale agreement.

10.1. The Company shall maintain appropriate records of customer payments and make reasonable efforts to ensure that payments are correctly credited to the relevant customer's property account.

10.2. The Company shall communicate relevant payment, allocation, and refund information to customers through the contact details provided.

10.3. The Company reserves the right to verify transactions, correct demonstrable account errors, request supporting documentation, and investigate suspected fraud or unauthorized transactions.

10.4. The Company shall not be responsible for delays caused by inaccurate customer information, incomplete documentation, payment reversals initiated by third-party financial institutions, or other circumstances outside its reasonable control, except where applicable law provides otherwise.

10.5. Nothing in these Terms and Conditions shall be construed as authorizing the Company to withhold money, deny an allocation, or refuse a remedy contrary to applicable law or a binding agreement with the customer.

11.1. Neither party shall be held responsible for a delay in performing an obligation to the extent that the delay is directly caused by an event beyond that party's reasonable control, including natural disasters, war, civil unrest, government restrictions, or other comparable events.

11.2. The affected party shall notify the other party within a reasonable time and take reasonable steps to minimize the effect of the event.

11.3. Force majeure shall not automatically extinguish payment obligations already accrued, nor shall it automatically entitle a customer to a refund. Any refund request shall be considered under Clause 6 and Clause 7, subject to applicable law.

11.4. Personal financial hardship or a medical emergency shall be assessed under the exceptional-circumstances refund provisions and shall not automatically be treated as a force majeure event.

12.1. The Company may collect and process customer information reasonably required to administer the Platform, verify payments, manage property transactions, issue allocation documents, and fulfil its legal obligations.

12.2. Customer information shall be handled in accordance with applicable Nigerian data protection laws and the Company's privacy notice.

12.3. Customers should ensure that the information submitted to the Platform is accurate and that their account credentials and payment information are kept secure.

13.1. The Company may amend these Terms and Conditions where reasonably necessary to reflect changes in its operations, payment arrangements, legal requirements, or Platform functionality.

13.2. Material amendments shall be communicated through the Platform or another appropriate channel and shall take effect on the stated effective date.

13.3. Amendments shall not retrospectively remove rights that have already accrued to customers or override binding contractual terms, except as permitted by law.

14.1. Any dispute arising from the use of the Platform, a customer's payment plan, allocation, or refund shall first be referred to the Company in writing for review and amicable resolution.

14.2. Where the dispute cannot be resolved amicably within a reasonable period, either party may pursue the remedies available under applicable Nigerian law before a court of competent jurisdiction.

14.3. These Terms and Conditions shall be governed by the laws of the Federal Republic of Nigeria, together with any applicable laws of the Federal Capital Territory or other relevant jurisdiction.

By creating an account, selecting a property, or making payment through the Platform, the customer confirms that they have read, understood, and accepted these Terms and Conditions.

The customer further acknowledges that the Platform is intended solely to facilitate the purchase of land through an instalment payment arrangement and does not offer investment returns or financial profits.

FOR: NUVION HOMES LTD

By creating an account, you confirm that you have read, understood and agree to the Terms and Conditions above.