Terms of Use
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Terms Of Use
Please note that your use of and access to the services (as defined below) are subject to the following terms; if you do not agree to all of these terms, you may not use or access the services in any manner.Last updated: December 13, 2023
Welcome to SolomonHills, a modern digital cooperative platform that simplifies investing and makes it easy and affordable for you to access savings,investments and loans in other to achieve your financial goals. Before you begin, please take some time to read the important terms of use below. By using and accessing our services (as defined below), you represent that you have read and agree to be bound by these terms of service. You also agree to our Privacy Policy which covers how we collect, use, store, and share personal data. If you do not agree to all of these terms, you may not use or access the services in any manner.Agreement
These Terms of use (“Terms”) represent an agreement between you and SolomonHills
Cooperative and Investment Limited (SolomonHills). It contains the terms governing
your use and access to our website, services, and products (collectively, “Services”).
“You” and “your '' mean the person who uses or accesses our Services. “We”, “us”, and
“our” mean SolomonHills and its assignees. As used in these Terms, “SolomonHills
Account'' means the account you open with us for our Services. This agreement may be
amended from time to time without your prior notice, subject to applicable law. The
amended agreement will be available on our platform and we will update the date at the
top. These Terms and Privacy Policy represents the entire agreement between you and
SolomonHills regarding the Services and subject matter hereof and supersedes any
prior statements or representations.
Eligibility
In order to use our Services, you must accept and agree to these Terms and Privacy
Policy. To access certain features and products of SolomonHills, you must
- be a Nigerian citizen with at least 18 years of age.
- have a bank account with a Nigerian financial institute.
- Register to create an account with SolomonHills (SolomonHills Account).
You warrant that all User Data you provide us from time to time is truthful, accurate,
current, complete, and not misrepresented. You agree to promptly notify us of changes
to your User Data by updating your personal information on your SolomonHills Account.
If we approve your registration, you will be authorized to use our Services, subject to
these Terms. Your use of the Services must comply with all applicable law. If your use of
the Services is prohibited by applicable law, then you are not authorized to use our
Services. We are not responsible if you use the Services in any manner that violates
applicable law.
When you register for the Services and from time to time thereafter, we may require you
to provide documentation that will help us to identify you, such as your NIN (Nigerian
Identification Number) and BVN (Bank Verification Number) and such other information
that we may require.
Access to User Account on our Services
When you register on SolomonHills, you will be required to choose a password, which is
necessary to access your SolomonHills Account. SolomonHills has physical, electronic,
and procedural securities that comply with regulatory standards to safeguard your
SolomonHills Account and our Users’ Data. You are responsible for safeguarding your
password and other SolomonHills Account information. You agree not to disclose your
password to any third party and you will notify SolomonHills immediately if your
password is lost or stolen. If you suspect any unauthorized access or use of your
SolomonHills Account, you must contact us immediately via email at
hello@solomonhills.com or call us on +234 (0) 702 674 7792.
You agree that you are solely responsible for any activities or actions under your
SolomonHills Account, whether or not you have authorized such activities or actions.
Except as otherwise expressly stated in these Terms or required by applicable law, we
are not responsible for any losses arising out of the loss or theft of your User
Information or your mobile device from unauthorized transactions associated with your
SolomonHills Account or your Bank Account.
Notifications and Electronic Communications
By signing up and creating a SolomonHills Account, you automatically agree to receive
e-mail and mobile notifications which may include your name and/or email address, and
information about your portfolio. Anyone with access to your e-mail or mobile device will
be able to view these alerts. You may unsubscribe from receiving promotional
communications at any time you choose
Investment information, tools, and predictions
Although SolomonHills carefully evaluates potential returns based on historic
performance, SolomonHills makes no representation regarding the likelihood that a
prediction will achieve a particular investment outcome or goal. Some Users have
investment results that materially differ from those indicated by our investment tools and
predictions. SolomonHills is unable to predict or forecast market fluctuations or other
uncertainties that may affect the value of any investment. You understand and
acknowledge that SolomonHills cannot be held responsible for the investment results
you could obtain from the financial insights and investment information provided by
SolomonHills.
Investment management services may be offered at the sole discretion of SolomonHills,
however, you are responsible for your own investment decisions. SolomonHills is not
responsible for the accuracy or reliability of any information on the website. It is your
responsibility to evaluate the accuracy, reliability, timeliness, and completeness of any
information shared on the website. SolomonHills will not be liable for decisions/actions
you take or authorize third parties to take on your behalf based on the information
shared on our website. You are urged to use all available resources to educate yourself
about investing in general. Your decision to use our savings and investment services
are subject to your acceptance of these Terms.
Advice may differ
You understand and agree that we may make recommendations that may differ from the
recommendations given to you. In addition, our personnel may take actions for their
own accounts based on their own investment situations that differ from the
recommendations we give or actions we take on your behalf
Funds
Only funds from your debit card may be transferred to your SolomonHills Account. You
agree to debits and credits from and to your Bank Account via the automated clearing
house network (”Ach”) and a binding arbitration provision. For automatic investments,
you agree that we debit your debit card (the amount you specify) directly. Your funds will
remain in your SolomonHills Account until you make a withdrawal request, which will be
transferred to your Bank Account upon confirmation. We will generally transfer the
requested funds from your SolomonHills Account to your Bank Account within 48 hours
upon confirmation. Upon closure of your SolomonHills Account, we will transfer the
funds from your SolomonHills Account to your Bank Account.
You are solely responsible for determining whether the funds debited from your debit
card and the funds maintained in your SolomonHills Account are acceptable to you.
SolomonHills is not a financial adviser, and the Services are not intended to provide
financial advice. We are not responsible for ensuring your debit card has sufficient funds
for your needs or transactions. You may obtain information about the balance of your
funds in your SolomonHills Account at any time by logging in to your account on the
website.
Investment and Subscription Liquidation Policy
You'll earn a daily profit on your savings(Bucket) paid back into the savings on daily basis that can be seen and monitored on your dashboard. You can withdraw your savings and accrued interest from Buckets at the set maturity
date you choose for FREE. However, you agree that you will be charged a penalty of
5% on the value of your Bucket if you initiate a withdrawal request before the set
maturity date. Thereupon, the selected Bucket will be terminated and your funds and
accrued interest will be paid to your registered Bank Account.
Withdrawals before 90 days on Hills will not be allowed on the first investment. You
agree to leave your first investment for the first three months before initiating a
withdrawal. Subsequently, you will be able to withdraw your investment once every 90
days, that is 4 FREE withdrawals are allowed on Hills every year. You agree that you
will be charged a 5% penalty charge on the withdrawn amount for two or more
withdrawal requests made per 90 days.
You'll earn a monthly dividend on your cooperative subscription(Brooks) and a annual dividend by the end of the year paid into your Divi account. You can request a loan of up to X2 of your total subscription at any time you are in need of
money. This will attract deduction of only a 3.50% interest rate on the amount requested and
subsequently 0.40% will be added on the repayment balance on each month you fail to payback the required monthly repayment.
Your loan repayment will be stretched out over 4 to 12 months. Your monthly repayment will be debited from your debit card that you added to your account and you can also manually repay your loan. The faster you payback your loan the higher your credit worthiness and the more you're liable to request for a higher amount and the more you get rebased.
You can make the payment right away to raise your credit score instead of having to wait for the
automated removal.
The speed at which your loan application is approved depends on your credit score
The speed at which your loan application is approved depends on your credit score
Also, be aware that you will be notified two weeks after the default if you serve as a guarantor
for a borrower and the borrower fails to repay the loan before time. As a result, you are liable for
the borrower's debt.
You can cancel and terminate your subscription for a 5.00% convenience fee after a year
of an active subscription while you have all your accrued dividends paid, which is not
recommended. This is in direct contrast to the community's objective. It's critical to have a safe
landing spot if you want to get a good loan that will pay the time value of money without
breaking your back.
Intellectual property
Our Services, features, materials, and content provided on our website and depicted
through our Services is provided by SolomonHills only for lawful uses according to the
purposes described therein and in these Terms. Any and all other commercial uses are
prohibited including and not limited to copying, republishing, reproducing, or exploitation
of any material provided by SolomonHills, without the express written consent of
SolomonHills. Our Services and content are protected by copyright, trademark, patent,
and other intellectual property laws. We do not grant you any licenses to our intellectual
property except as expressly stated in these Terms.
Third-party links
Our Services may contain links to third party websites or services not owned or
managed by us. Links to certain articles are only for educational or convenience
purposes and have been written by third parties not affiliated with SolomonHills. No
information accessed through these links constitutes an endorsement by SolomonHills.
SolomonHills assumes no responsibility whatsoever for the products, practices, and
accuracy or reliability of content on a linked website. It is your responsibility to evaluate
the accuracy, reliability, timeliness, and completeness of any information available on a
linked website.
Clicking on third party links on our website may take you to other websites that are not
maintained by SolomonHills. Such websites may contain terms and conditions and
privacy policies that may differ from the terms and conditions applicable to
SolomonHills. Your access and use of such third-party websites and services are
subject to the applicable third-party terms and conditions. We encourage you to read
the terms of use and privacy policy of every third-party website you visit.
Disclaimers
SolomonHills’s website, Services, and all content included therein are provided on an
AS IS and AS AVAILABLE basis without warranties of any kind from SolomonHills.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, SOLOMONHILLS
EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, RELATING TO
SOLOMONHILLS’S WEBSITE, CONTENT (INCLUDING THAT OF THIRD-PARTIES)
AND/OR USER INFORMATION, INCLUDING WITHOUT LIMITATION THE
WARRANTIES OF TITLE, NON-INFRINGEMENT OF PROPRIETARY RIGHTS
COURSE OF DEALING OR COURSE OF PERFORMANCE.
SOLOMONHILLS DISCLAIMS ANY WARRANTIES, EXPRESS, IMPLIED,
STATUTORY OR OTHERWISE:
- REGARDING THE AVAILABILITY, SECURITY, ACCURACY, RELIABILITY, TIMELINESS;
- THAT OUR SERVICES WILL MEET YOUR REQUIREMENTS;
- THAT SOLOMONHILLS’S WEBSITE WILL BE ERROR-FREE OR THAT ANY ERRORS WILL BE CORRECTED;
- THAT SOLOMONHILLS’S WEBSITE WILL BE UNINTERRUPTED, TIMELY, AND FREE FROM ELECTRONIC VIRUSES; OR
- THE QUALITY OR USEFULNESS OF ANY PRODUCTS, SERVICES,
MATERIALS, OR CONTENT INCLUDING BUT NOT LIMITED TO
INFORMATION OBTAINED THROUGH SOCIAL MEDIA WILL MEET YOUR
EXPECTATIONS.
NO ADVICE OR INFORMATION, WHETHER WRITTEN OR ORAL, OBTAINED BY
YOU FROM US WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN
THESE TERMS. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
AND EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THESE TERMS, YOU
UNDERSTAND AND AGREE THAT YOUR USE OF THE SERVICES AND ALL
INFORMATION OR CONTENT INCLUDED IN OR ACCESSIBLE FROM THE
SERVICES IS AT YOUR OWN SOLE RISK.
Indemnity
At our request, you undertake to defend, indemnify, and hold harmless SolomonHills
and its directors, employees, agents, and third-party service providers from and against
any and all claims, losses, suits, damages, liabilities, fines, penalties, costs and
expenses (including but not limited to reasonable legal fees) arising from or in any way
related to your violation of these Terms, applicable law or any third-party rights, or your
fraud or willful misconduct
Such indemnified parties reserve the right to assume the exclusive defense and control
of any matter subject to indemnification by you, in which event you will cooperate in
asserting any available defenses. SolomonHills shall not be liable for any act or failure
to act by any third party.
Limitation of Liability
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE THAT
SOLOMONHILLS, ITS DIRECTORS, EMPLOYEES, OR AFFILIATES, AND
THIRD-PARTY SERVICE PROVIDERS WILL NOT BE LIABLE TO YOU OR ANY
THIRD PARTY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE,
CONSEQUENTIAL, OR EXEMPLARY DAMAGES ARISING OUT OF OR IN
CONNECTION WITH YOUR USE OF SOLOMONHILLS CONTENT AND/OR USER
INFORMATION, INCLUDING BUT NOT LIMITED TO THE ACCURACY AND QUALITY
OF THE INFORMATION PROVIDED AS PART OF OR THROUGH SOLOMONHILLS
OR FOR ANY INVESTMENT DECISION MADE ON THE BASIS OF SUCH
INFORMATION, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER
OR NOT SOLOMONHILLS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. IN NO EVENT SHALL SOLOMONHILLS’S CUMULATIVE LIABILITY TO
YOU EXCEED ₦20,000.
Governing Law and Dispute Resolution
These Terms shall be governed, construed, and enforced pursuant to the laws of the
Federal Republic of Nigeria. For any and all disputes, disagreements, or differences
between you and us (including the interpretation and scope of this section) relating to
our Services and these Terms, which cannot be amicably resolved by the parties
involved in thirty (30) days, will be resolved exclusively through binding and confidential
arbitration. The arbitration will be subject to the Federal Arbitration Act, and not any
state arbitration law. You and SolomonHills each agree to submit to arbitration under
Nigerian Law. The arbitration will be conducted before one commercial arbitrator from
the Nigeria Arbitration and Conciliation Act with substantial experience in resolving
commercial contract disputes
Miscellaneous
These Terms, together with SolomonHills’s Privacy Policy, form the complete and
exclusive agreement between you and SolomonHills with respect to your use of our
Services, and subject matter contemplated by this Agreement, and supersedes any
prior statements, agreements, or representations.
If you have any questions, concerns, or comments, you can contact us via mail at
hello@solomonhills.com or call us on +234 (0) 702 674 7792.
Why you need SolomonHills
Join millions of users and grow your investment and asset.
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Contact us
WhatsApp ↗- Tel: +2347026747792
- Email: hello@solomonhills.com
5, Odebiyi Street, Ogba, Lagos