1. Eligibility Criteria

To qualify for EssencePay, users must:

• Be an active and verified member of Green Fruits Cooperative Society Ltd
• Register as a member of the Green Fruits Cooperative Society Ltd at a fee of #1000.00.
• Obtain Green Fruits Cooperative Society Ltd.’s ID Card at a fee of #1000.00.
• Submit two passport photographs.
• Be at least 18 years old
• Have no history of defaults or unresolved payment issues with EssencePay or the cooperative
• Consent to data and credit checks, including submission of Bank Verification Number (BVN) to the appropriate authorities in Nigeria for further actions.

2. EssencePay Service Description

EssencePay allows eligible members to:

• Choose from a catalog of essential products
• Make an initial down payment (usually 30–50% of the product value)
• Pay the balance in monthly installments over a period ranging from 3, 4, 5, 6, 9 to 12 months

All repayment details will be clearly outlined in a Product Agreement issued at the point of purchase.

3. Payment Structure and Terms

• Down Payment: Mandatory before product release.
• Installments: Due monthly; payment deadlines are communicated via SMS/email.
• Payment Channels: Payments must be made through official EssencePay or Green Fruits Cooperative channels.

Late Payment & Default Policy

If a customer fails to make payment by the due date:

• A default charge of 1% per day (based on the outstanding amount) will apply.
• EssencePay reserves the right to remotely lock or disable the device apps or completely lock or disable the device as a whole until payment is cleared.
• The customer’s BVN may be flagged and reported to credit bureaus or any other recognized credit reporting agency, in accordance with the Nigerian law or any jurisdiction EssencePay deems applicable.
• Continued non-compliance may lead to:
• Deduction from cooperative/customer bank savings or dividends
• Suspension or termination of cooperative privileges
• All Legal actions would be activated

4. Product Ownership

• All products remain the property of Green Fruits Cooperative Society Ltd until full payment is made.
• Final ownership and transfer of title occur only after the last installment is received.
• During the installment period, customers are responsible for keeping the product in good working condition.

5. Cancellations & Refunds

• Cancellations are accepted only:
• Before product delivery, or
• Within 48 hours of delivery if the product remains unopened and unused
• Refunds of down payments will incur a processing fee of 5% and will be completed within 14 business days.

6. Product Warranty & Maintenance

• Products come with manufacturer warranties.
• EssencePay is not responsible for damages, wear, or misuse of the product after delivery.
• Members must report factory defects within 2 days of delivery for replacement support.

7. Privacy & Data Use

By registering with EssencePay, members:

• Authorize the use of their personal and financial data to assess eligibility
• Consent to credit reporting to licensed credit bureaus if necessary
• Agree to BVN verification for risk and compliance checks
• Understand their information will be securely stored and used only for service improvement, debt recovery, and legal obligations

8. Breach & Legal Enforcement

Breach of contract or willful default allows EssencePay to take any or all of the following actions:

• Block or disable access to financed products
• Flag the member’s BVN and report to regulatory bodies
• Initiate recovery measures including 1% default charge, repossession, legal claims, or cooperative deductions
• Disqualify the member from future credit or cooperative benefits

9. Dispute Resolution

All disputes should first be referred to the Green Fruits Cooperative Society Dispute Resolution Committee. If unresolved, the matter may be escalated to external arbitration or legal proceedings, in accordance with Nigerian law or any relevant governing jurisdiction.

10. Amendment Clause

EssencePay reserves the right to revise or update these terms at any time. Updates will be communicated through SMS, email, or cooperative notice boards, and continued use of the service will constitute acceptance of the revised terms.

11. Governing Law

These terms are governed by the laws of the Federal Republic of Nigeria, including the Nigeria Data Protection Regulation (NDPR) and the Credit Reporting Act, alongside the cooperative’s internal bylaws.