These are the Terms and Conditions for the StokFella Application (“Software”, “Platform”, “App”) published by StokFella (Pty) Ltd (Registration Number 2016/033764/07) (“StokFella”, “Us”, “We”) a private company duly registered in terms of the laws of the Republic of South Africa whose registered address is The Pivot, Block C, 1st Floor, 1 MonteCasino Blvd, Fourways, 2021.
2. DETAILED DESCRIPTION OF SERVICES
StokFella is a business in the fintech industry that offers information and activity management service that allows you to manage your stokvel actual contribution funds, consolidate, visualise your Stokvel activities, financials and other related Stokvel matters (“Service”, “Product”, “Vouchers”). Your contribution funds are linked to a financial product, platform and/or service provider of your stokvel group’s choice. Where the groups’ choices are of financial products; these products could be call account, notice call account, fixed interest account, collective investment scheme, credit and/or any authorised product StokFella is licensed to provide for the group to save, invest and/or subscribe into. These financial products may be provided by a bank, fund manager(s) and/or registered financial institution provider(s) (“product/platform suppliers”). The financial products maybe rebranded to align with StokFella’s brand and services for ease of understanding or consumption. When you link your group or open an account via the StokFella platform, you are instructing us to deposit your funds into your selected financial product/platform. Some financial products, you may accrue interest for your group. These financial products’ interest will be calculated daily based on the balance; positive or negative; of your group’s account and will be added (i.e. accrued) end of the month.
Users must be 18 years or older. If you are a minor child under the age of 18 years you may only enter into this Agreement and register an account on the StokFella platform with the prior written consent of one or more of your parents or legal guardians.
All our service fees are provided, calculated and quoted in the app and as well in accordance to our fee schedule published from time to time. We reserve the right to amend or vary the fees charged from time to time. Any amendment or variation of such fees will be deemed to be an amendment of this Agreement. If you object to any amended or varied fees, your sole remedy is to terminate your use of the StokFella platform.
StokFella does not give financial advice and does not employ financial advisers. If you require financial advice, it is your responsibility to appoint a financial adviser.
Downloading, otherwise accessing, otherwise using the Software signifies that you have read the Terms and Conditions (“Terms”) and understand them and agree to be bound by these Terms. StokFella reserves the right to update, amend and/or replace any or the whole of the Terms and these changes shall be effective immediately and replace any previous Terms.
You shall be deemed to have consented to these amendments as soon as you download, otherwise access, otherwise use the Software. You are responsible for reviewing these Terms from time to time so that you are aware of the amendments. We may be required, under the Financial Intelligence Centre Act, 2001 (FICA) to confirm your identity when you register on the StokFella platform and we may request such information as we consider necessary to confirm your identity.
Any registration information that you provide to us must be accurate, current, relevant and complete. You must also update your information so that we may send notices, statements and other information to you by email or through your account.
You must ensure that you keep your user IDs, bank details and passwords strictly confidential and secure and you do not share these details with any other person. You are responsible for any and all actions taken using your accounts and passwords, and you agree to immediately notify us of any unauthorized use as soon as you become aware of it. You authorise StokFella to verify your Identification, Physical Address and/or banking details against any third-party database.
You acknowledge that you are not a domestic or foreign prominent influential person or public official.
You will contact us immediately when you become aware or suspect that any unauthorised person has gained access to your account details; or if your account details have been lost, stolen or misused; or if there has been any other breach of security. You will change your account details immediately when you become aware of or suspect any one of the circumstances set out above.
You are responsible for regularly reviewing your and groups’ savings and ensuring that they continue to suit your and groups’ circumstances. We do not take responsibility for your and/or groups’ selection. You shall remain solely responsible for taking all decisions, making all enquiries, applying your own judgment, and managing all aspects of the products and services you access and use via the StokFella platform, including issues relating to tax and financial planning.
You acknowledge that, as with all investments, the products (or services) published and accessed via the StokFella platform may gain or lose value and there is always risk of financial loss inherent in such products (or services).
You acknowledge that you are not entitled to withhold any payment of any fees due to us by reason of any alleged breach of this Agreement by us or for any other reason.
By accepting these conditions, you are invariably accepting the StokFella Credit terms and conditions.
4. CONTENT OF THE SOFTWARE
StokFella reserves the right to make improvements, to change or to discontinue, without notice, any aspect or feature of the Software and any information or content on the Software. StokFella reserves the right to change or amend the products, services, prices and rates relative to the Software from time to time, without notice.
The display or accessibility of a particular financial product (or service) on the StokFella platform does not mean that we are making any recommendation in relation to that product (or service), or that your purchase and/or use of that product (or service) is appropriate to meet your groups’ needs or requirements.
5. DELIVERY POLICY AND CUT-OFF TIMES FOR TRANSACTIONS
Subject to availability and receipt of payment, requests will be processed within 1 days but not later than 5 (five) working days and delivery confirmed by way of an online platform that is accessible via username and password. While we thrive to ensure that purchased vouchers are delivered instantly; depending on the providers some vouchers may have a delivery lead-time of up to 24 hours.
All instructions to deposit funds will take place only on working days (Monday to Friday) at cut-off time of 15:00. Your funds must have cleared in our account prior the cut-off time for us to execute the transaction else the transaction will be executed the next working day’s cut-off time.
All instructions to withdraw funds will be deemed valid only once approval is given by authorised group personnel. Once authorisation is valid, one (1) working day grace period is given for any dispute to be raised prior the transaction is executed. If the instruction is on a notice account; the transaction will be executed after the stipulated notice period has elapsed. All executions of withdrawal transaction take place only on workings (Monday to Friday) at cut-off time of 15:00.
6. EXPORTS RESTRICTIONS
The StokFella services is only made available to users in South Africa, Eswatini, Lesotho and Namibia even if they access this website and/or platform from locations outside of these countries. Furthermore, even though users maybe in Eswatini, Lesotho and Namibia all stokvels will be registered in South Africa only and follow South African stokvel regulations.
This Agreement is regulated by or is subject to the Consumer Protection Act No 68 of 2008, as may be amended from time to time (the “Consumer Protection Act”).
7. RETURN AND REFUNDS POLICY
You may cancel your transaction for a full refund at any time before the transaction is processed on the platform and a voucher has been purchased. You are responsible for ensuring the payment details you provide are accurate. Once payment instructions have been executed by StokFella, transactions cannot be reversed and StokFella will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.
In the event that you want to cancel your account profile with StokFella and redeem all pending cash vouchers, please contact our support team on info@StokFella.com to initiate the cancellation process. Please note that this may take up to 14 days. You have 14 days after receipt of any confirmation or any statement from the StokFella platform to report any errors to us.
StokFella shall take all reasonable steps to protect the personal information of users. For the purpose of this clause, “personal information” shall be defined as detailed in the Promotion of Access to Information Act 2 of 2000 (PAIA). The PAIA may be downloaded from: http://www.policy.org.za/attachment.php?aa_id=3569 Payment may be made via Visa, MasterCard, Diners or American Express credit cards or cheque cards.
We may monitor this website and/or our app to make sure it is operating properly. However, we do not, as a general practice, monitor your activities on this website. Where we are required to intercept communications under the Regulation of Interception and Provision of Communication-Related Act, 70 of 2003 (“RICA’’), any interception of communications will be strictly carried out in accordance with the requirements of RICA. You agree that you will have no recourse against us if we act in terms of this clause and you waive your right to make any claim or demand or to institute any legal proceedings against us arising from the interception or monitoring of this website and/or our app in accordance with our legal rights and obligations.
9. PAYMENT OPTION ACCEPTED
Payment may be made via Visa, MasterCard, Diners or American Express credit cards or by bank transfer into the StokFella bank account, the details of which will be provided on request.
10. CREDIT CARD ACQUIRING AND SECURITY
Credit card and cheque card transactions will be acquired for StokFella via PayGate (Pty) Ltd who are the approved gateway for all South African Acquiring Banks. PayGate uses the strictest form of encryption, namely Secure Socket Layer 3 (SSL3) and no credit card details are stored on the website. Users may go to www.paygate.co.za to view their security certificate and security policy.
11. CUSTOMER DETAILS SEPARATED FROM CARD DETAILS
Customer details will be stored by StokFella separately from card details which are entered by the client on PayGate’s secure site. For more details on PayGate refer to www.paygate.co.za
12. MERCHANT OUTLET COUNTRY AND TRANSACTION CURRENCY
The merchant outlet country at the time of presenting payment options to the cardholder is South Africa. Transaction currency is South African Rand (ZAR).
StokFella takes responsibility for all aspects relating to the transaction including sale of goods and services sold on its app, customer service and support, dispute resolution and delivery of goods. Any complaints regarding the standard and quality of the product or services bought by consumers through the e-commerce facility should be directed to the following email address, firstname.lastname@example.org
StokFella makes no warranties, representations, statements or guarantees as to the accuracy, appropriateness, correctness, completeness or reliability of the Software and the data and/or content on the Software. StokFella does not warrant that the Software or information or downloads shall be error-free or that they shall meet any particular criteria of performance or quality.
StokFella expressly disclaims all implied warranties and takes reasonable measures to ensure the integrity of the Software and its contents and no warranty, whether express or implied, is given that any files, downloads or applications available via this Software are free of viruses, or any other data or code which has the ability to corrupt, damage or affect the operation of the user’s system.
The user agrees that StokFella shall not be liable for any losses or damages that may arise from the user’s reliance on the Software, howsoever these may arise.
StokFella does not make any representation or give any guarantee that you will realise any returns, profits, or other financial benefits from your use of any financial products or services accessible from the StokFella platform.
In particular, StokFella is not responsible for any losses that may be suffered due to errors made by vendors, service providers, the investment or market risk of the underlying investment; changes in tax or other legislation; delays in the processing or the rejection of an application for any financial product/service made via the StokFella platform for any reason whatsoever; any financial adviser acting on your or groups’ behalf beyond the scope of their mandate either via telephone, email, fax or website; or acting on any incorrect information provided to you in any format.
15. INTELLECTUAL PROPERTY
Stokfella owns all intellectual property rights in all materials, text, drawings, design, programs and data made available on the Service. Any unauthorised reproduction, distribution, derivative creation, sale, broadcast or other circulation or exploitation of the whole or any part of this material is an infringement of our rights.
StokFella owns the StokFella trademarks, names, logos and service marks displayed on the Service whether registered or unregistered. You may only use the StokFella trademark with Stokfella’s written permission. All StokFella’s trademarks are protected by copyright laws. All rights not expressly granted are reserved and no right, title or interest in any material or information contained in this Software is granted to you.
Except with StokFella’s express written permission, no material from this Software may be copied or retransmitted. The copyright in all material contained on, in, or available through the Software including, the selection and arrangement thereof, and all source code software compilations and other material, except that which is created and owned by you, is owned by or licensed to StokFella.
16. LINKED THIRD PARTY WEBSITES APPLICATIONS AND THIRD PARTY CONTENT
StokFella may provide links to third party websites and apps on the Software. These links are provided to the user for convenience purposes only and StokFella does not endorse, nor does the inclusion of any link imply StokFella’s endorsement of, such websites and/or apps, their owners, licensees or administrators or such websites’ content or security practices and operations.
While StokFella tries to provide links only to reputable websites, StokFella cannot accept responsibility or liability for the information provided on other websites and/or applications. Linked websites, applications or pages are not under, nor subject to, the control of StokFella.
17. USAGE RESTRICTIONS
You agree to not create a false identity or otherwise attempt to mislead any person as to your identity or the origin of any communication transmitted through the Software. Disseminate or transmit any message that does not pertain to the intended use of the Software or that contain anything that is obscene, defamatory, harassing, offensive or malicious.
Use the Software in any unlawful manner or in any manner which promotes and/or encourages illegal activity including (without limitation) copyright infringement. Attempt to gain unauthorized access to the Software or any networks, servers or computer systems connected to the Software.
Copy, reproduce, translate, modify, rent, lease, lend, license, sublicense, distribute, transmit, share or create derivative works, adapt, encumber, decompile, reverse engineer or in in any other way deal with any part of the Software for any reason and in any manner, unless it is consistent with the intent and purpose of these Terms. Write and/or develop any derivative of the Software or any other software program based on the Software.
Modify or enhance the Software. If you effect any modifications or enhancements to the Software in breach of this clause, such modifications or enhancements shall be the property of StokFella. Without StokFella’s prior written consent, provide, disclose, divulge or make available to or permit the use of or give access to the Software by persons other than you.
Remove any identification, trademark, copyright or other notices from the Software.
In order to ensure the security and reliable operation of the Service to all users of the Software, StokFella hereby reserves the right to take whatever action it may deem necessary to preserve the security, integrity and reliability of its network and back-office applications.
You may not utilise the Software in any manner which may compromise the security of StokFella’s networks or tamper with the Software in any manner whatsoever, which shall include without limitation, gaining or attempting to gain unauthorised access to the Software, or delivering or attempting to deliver any unauthorised, damaging or malicious code to the Software.
You may not use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology for any unlawful purpose, including the unlawful access to, acquisition of, control over, copying or monitoring of the Service.
19. RISK, LIMITATION OF LIABILITY AND INDEMNITY
Your use of this Software and the information contained on the Software is entirely at your own risk and you assume full responsibility and risk of loss resulting from the use thereof.
The transmission of information via the internet, including without limitation e-mail and other digital messages, is susceptible to monitoring and interception. You bear all risk of transmitting information in this manner. Under no circumstances shall StokFella be liable for any loss, harm, or damage suffered by you as a result thereof. StokFella shall not be liable for any damages whatsoever, including without limitation any direct, indirect, special, incidental, consequential or punitive
You hereby unconditionally and irrevocably indemnify StokFella and agree to hold StokFella free from all loss, damages, claims and/or costs, of whatsoever nature suffered or incurred by StokFella or instituted against StokFella as a direct or indirect result of:
- Your use of the Software;
- Software, programs and support services supplied by, obtained by or modified by you or any third party without the consent or knowledge of service provider;
- Your failure to comply with any of the terms or any other requirements which StokFella may impose from time to time;
- The actions or requirements of any telecommunications authority or a supplier of telecommunications services or software; or
- Any unavailability of, or interruption in, the Service which is beyond the control of StokFella.
StokFella makes no warranty or representation as to the availability, accuracy or completeness of the content of the Software. You expressly waive and renounce all your rights of whatever nature that you may have against StokFella for any loss suffered by you, as a result of information supplied by StokFella that is incorrect, incomplete or inaccurate.
By subscribing as a user, you agree that you shall hold in the strictest confidence and not disclose to any third party information acquired in connection with any aspect of the products and/or Service offered by StokFella. You shall notify StokFella should you discover any loss or unauthorised disclosure of the information.
Any information or material sent to StokFella will be deemed not to be confidential, unless otherwise agreed in writing by the user and StokFella.
21. BREACH OR CANCELLATION
Having given the user of the Service 10 business days’ notice in writing to remedy a material breach StokFella is entitled without notice, in addition to any other remedy available to it at law or under these Terms, including obtaining an interdict, to cancel these Terms, limit or deny such user use of the Software and Service, or to claim specific performance of any obligation whether or not the due date for performance has arrived, in either event without prejudice to StokFella’s right to claim damages, should any user:
- Breach any of these Terms;
- In the sole discretion of StokFella, use the Software in an unauthorised manner; or
- infringe any statute, regulation, ordinance or law.
- Breach of these Terms and failure to remedy such breach, entitles StokFella to take legal action without prior notice to the user and the user agrees to reimburse the costs associated with such legal action to StokFella.
We may terminate or suspend your subscription and/or access to the Service at any time without prior notice; or liability for any reason whatsoever without limitation and in the event of you breaching these Terms.
On termination all provisions of the Terms which by their nature should survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability will survive termination. We will close your account and deactivate your login details. We will remove from our records all your information in our possession other than information and data which we are obliged by law to retain.
23. WHOLE AGREEMENT
Nothing in this Agreement is intended to create a partnership, a joint venture or any relationship of agency, representation, or employment between us.
These terms and conditions constitutes the entire and only agreement between us and supersedes all previous negotiations, communications and other agreements, whether written or oral, unless they are incorporated by reference into this Agreement. No other terms, representations, warranties, statements or conditions will be binding on us other than those contained in this Agreement.
24. APPLICABLE LAW
You shall comply with all applicable laws, statutes, ordinances and regulations pertaining to your use of and access to this Software.
These Terms are governed by and interpreted in accordance with the laws of the Republic of South Africa without giving effect to any principles of conflict of law. If any provision of these Terms is held to be invalid or unenforceable by a court of the Republic of South Africa, the remaining provisions of these Terms will remain in effect.
25. COUNTRY OF DOMICILE
This website is governed by the laws of South Africa and StokFella chooses as its domicilium citandi et executandi for all purposes under this agreement, whether in respect of court process, notice, or other documents or communication of whatsoever nature. Business physical address: Leslie Ave, Design Quarter, Fourways, 2191.
These Terms and Conditions shall be governed by the laws of the Republic of South Africa, and the User consents to the jurisdiction of the Witwatersrand High Court in the event of any dispute. If any of the provisions of these Terms and Conditions are found by a court of competent jurisdiction to be invalid or unenforceable, that provision shall be enforced to the maximum extent permissible so as to give effect to the intent of these Terms and Conditions, and the remainder of these Terms and Conditions shall continue in full force and effect. These Terms and Conditions constitute the entire agreement between StokFella and the User with regard to the use of the Content and this Website and Platform.
You consent to the exclusive jurisdiction of the courts of the Republic of South Africa over any dispute with StokFella as to the Software, Services or these Terms.
StokFella may, in its sole discretion, change this agreement or any part thereof at any time without notice.
28. COMPANY INFORMATION
This website and platform is run by StokFella (pty) Ltd based in South Africa trading as StokFella and with registration number 2016/033764/07
29. STOKFELLA CONTACT DETAILS
Telephone: +27 (0)11 568 3497
Physical address: The Pivot, Block C, 1st Floor, 1 MonteCasino Blvd, Fourways, 2021