Terms of Service

Definitions

For the purposes of these Terms, the following definitions apply:

• "Platform" means CreditVeto Business, its website, dashboard, APIs, and all associated services.
• "Organisation" means the business on whose behalf an account is created and used.
• "User" / "you" means any individual who accesses or uses the Platform on behalf of an Organisation, and the Organisation itself.
• "Credit Veto" / "we" / "us" means Credit Veto Africa, a subsidiary of Thelix Holdings.
• "Merchant" means an Organisation approved to sell goods or services through Merchant Hub.
• "Lender" means a financial institution or lending partner approved to offer credit plans through Lender Hub.
• "Buyer" means an individual or Organisation that buys from a Merchant, including on credit from a Lender.
• "Wallet" means the balance Credit Veto keeps for a Merchant or Lender on the Platform.
• "Agreement" means these Terms together with any other policies incorporated by reference, including the Privacy Policy at business.creditvetoafrica.com/privacy.

About CreditVeto Business

CreditVeto Business gives organisations tools to check credit, sell on credit, and lend. Our services include:

• Scorely: credit scores and credit reports on individuals and businesses, through the dashboard and the Scorely API
• Merchant Hub: listing products and services for sale to Buyers, including on credit
• Lender Hub: offering credit plans to Buyers, reviewing applications, and funding orders
• Business Credit: buying from Merchants on Lender credit plans
• Wallets for Merchants and Lenders, and withdrawals to verified bank accounts

Important: Credit Veto is not a lender and does not make lending decisions. Credit decisions are made by Lenders. Goods and services are supplied by Merchants, who are responsible for them.

Eligibility

To register and use CreditVeto Business, you must:

• Be at least 18 years of age and authorised to act for your Organisation
• Represent a business lawfully operating in Nigeria
• Provide accurate, complete, and truthful information during registration and verification
• Comply with all applicable laws and regulations of Nigeria

Credit Veto reserves the right to suspend or terminate any account found in violation of these conditions, without prior notice.

Account Responsibilities

By creating an account, you agree to:

• Keep your Organisation's information accurate and up to date
• Keep login credentials, one-time codes, and API keys confidential and not share them with any third party
• Give team members only the roles they need, and remove access for people who leave your Organisation
• Notify Credit Veto immediately upon becoming aware of any unauthorised access to your account
• Accept responsibility for all activities conducted through your account, team members, and API keys

Business Verification

Some features require proof of who your Organisation is and who runs it, such as owner or director BVN and NIN, CAC registration, a payout bank account, a sector licence, or other documents. We ask for these when you first use a feature that needs them. You confirm that everything you provide is genuine and that you are authorised to provide it. We may decline, suspend, or withdraw a feature if verification fails or information turns out to be false.

Credit Checks & Reports

When you use Scorely, you agree to:

• Run a credit check only for a lawful purpose and with the consent of the person or business checked, as the Credit Reporting Act 2017 requires
• Use credit reports only within your Organisation and for the purpose they were obtained for
• Not resell, publish, or share credit reports with any third party
• Pay the charge for each live credit check, as shown in your dashboard

Scores and reports are based on data from credit bureaus and other sources available at the time of the check. They help you make your own decisions and do not guarantee any outcome. Sandbox results are test data only.

Merchants, Lenders & Buyers

Merchants

• List only goods and services you can lawfully supply, described and priced accurately
• Deliver what was ordered and report delivery truthfully
• Respond to disputes raised about your orders

Lenders

• Hold every licence your lending requires and keep it valid
• Set the terms of your credit plans, decide on applications, and fund approved orders within the time the Platform shows
• Comply with all laws on lending, consumer protection, and debt recovery

Buyers

• Provide truthful information in credit applications
• Repay credit on the terms of the plan agreed with the Lender

Credit Veto runs the Platform and may hold money while an order is confirmed or a dispute is reviewed. Where Merchants, Lenders, and Buyers cannot settle a dispute, Credit Veto may review it and decide whether held money is released, refunded, or reversed, based on the evidence provided.

Wallets, Payments & Fees

• Payments on the Platform are processed by our licensed payment provider
• Wallets are credited only from payments made through the Platform, and withdrawals go only to your verified bank account
• Withdrawals may need a one-time code, and may be paused for a period after your withdrawal account changes, to protect your money
• Fees for each service are shown in your dashboard or agreed with you in writing before you are charged
• We may hold, reverse, or recover amounts credited in error, through fraud, or under a dispute decision

Prohibited Activities

Users must not:

• Provide false, misleading, or fraudulent information at any stage of account use
• Run credit checks without a lawful purpose or the required consent
• Use the Platform for money laundering, fraud, or any unlawful activity
• Create duplicate or fraudulent accounts, or act for an Organisation without its authority
• Interfere with, overload, or attempt to gain unauthorised access to the Platform or its APIs
• Reverse engineer, copy, or reproduce any part of the Credit Veto scoring methodology or platform

Violation of any of the above may result in immediate suspension or permanent termination of your account and, where applicable, referral to relevant authorities.

Limitation of Liability

To the maximum extent permitted under Nigerian law, Credit Veto shall not be liable for:

• Decisions made by your Organisation, Lenders, or any third party based on a score or credit report
• Goods or services supplied by Merchants, or credit provided by Lenders
• Losses arising from inaccurate information supplied by Users or data sources
• Indirect or consequential losses, including lost profits
• Service interruptions, data transmission errors, or platform downtime

Your Organisation remains responsible for its own business and financial decisions.

Suspension & Termination

You may close your Organisation's account from the dashboard, or by contacting us, once open orders, loans, and wallet balances are settled. Credit Veto may suspend or terminate access where these Terms are breached, where required by law, or to protect Users or the Platform. Obligations that arose before termination, including repayments, fees, and dispute decisions, continue after it.

Service Availability & Changes

Credit Veto reserves the right to modify, suspend, or discontinue any part of the Platform at any time. We do not guarantee uninterrupted or error-free access and will endeavour to provide reasonable advance notice of significant changes.

This Agreement may be updated periodically. We will notify you via the Platform or by email at least 14 days before changes take effect. Continued use of the Platform constitutes acceptance of the revised terms.

Governing Law & Dispute Resolution

This Agreement is governed by the laws of the Federal Republic of Nigeria. In the event of a dispute, the parties shall first attempt resolution amicably through direct communication. If unresolved within 30 days, the dispute shall be referred to arbitration in Lagos, Nigeria, in accordance with the Arbitration and Mediation Act 2023.

Contact Information

If you have any questions or concerns regarding these Terms or our services, you may contact us at:

• Email: [email protected]
• Address: 5, Balogun Street, Anifowose, Ikeja, Lagos

We are available during business hours to address any issues or queries.