Legal
Terms of Service
Last updated 19 July 2026 · Version 2
IMPORTANT NOTICE
Effective Date: July 18, 2026
PLEASE READ THESE TERMS CAREFULLY BEFORE CREATING OR JOINING ANY GROUP OR USING THE FAMILY EQUB PLATFORM. By accessing or using the Family Equb platform, including any associated websites, mobile applications, and services (collectively, the "Platform"), you enter into a legally binding agreement with Family Equb PLC, a company duly incorporated under the laws of the Federal Democratic Republic of Ethiopia ("Family Equb," "Company," "we," "our," or "us"). These Terms of Service and Privacy Policy (collectively, the "Terms") govern your access to and use of the Platform. If you do not agree to these Terms in their entirety, you are expressly prohibited from using the Platform and must immediately cease all access and use.
SECTION 1: FAMILY EQUB OPERATIONAL TERMS AND USER GOVERNANCE
This section governs the operation of digital Equb groups on the Family Equb Platform. The Platform digitizes the traditional Ethiopian rotating savings practice while adding automation, risk management, and transparency features.
1.1 Group Creation and Membership Roles
The user who creates a group is designated as the Group Organizer. The Organizer is responsible for setting group parameters, including group name, contribution amount, cycle duration, Equb type, commencement date, and any custom rules permitted by the Platform. Beyond the initial configuration, the Organizer assumes no further operational responsibilities, as all Equb operations are managed by the Platform's automated systems. Users who join a group are designated as Regular Members. Eligibility requires meeting the Platform's criteria, including a minimum collateral score, payment of the applicable Join Fee, and compliance with all group rules. All members, including the Organizer, are equally bound by the group's financial obligations. The Organizer bears no personal liability for defaults of other members beyond their own obligations. Private groups require a valid, unused invitation to join. Group names must be unique within the Platform. Groups cannot commence on a date that is present or past at the time of creation. All groups begin in a PENDING status and transition to ACTIVE only upon meeting minimum member and payment requirements. Groups that fail to meet these requirements shall be cancelled and refunds issued.
1.2 Contribution Obligations
Each group has a fixed contribution amount and payment frequency set at creation. Members must pay the full contribution amount when due. No partial payments are accepted. All contribution obligations are binding financial commitments. Failure to pay triggers automated enforcement actions as described in these Terms. Groups may be configured as Standard Equb, where one payment is made per cycle, or Premium Equb, where multiple payments may be required between draws. The Platform manages all scheduling and tracks payment status for each member.
1.3 Draw and Payout System
The Platform selects winners using a secure and fair randomized process. All draws are permanently recorded and visible to group members. In a Standard Equb group, one winner is selected per cycle and receives the full pot, less applicable fees. In a Premium Equb group, multiple winners may be selected per draw and share the pot equally, less applicable fees. Each member may win only once per round until all members have won. Only members who have satisfied their payment obligations are eligible for draws. Where administrative slots have been configured, the Organizer may receive priority payout in the first round, after which standard selection applies. Winners receive their net payout to their in-app Wallet. Payouts may be subject to collateral and KYC verification before release. Members may also withdraw funds to their bank accounts through available payment gateway services, which may incur third-party transaction fees.
1.4 Default, Delinquency, and Member Classification
Payments not received within the applicable grace period are classified as late. Late payments incur penalties as defined by the Platform's fee schedule. If the number of non-paying members exceeds the group's tolerated threshold, the group stops automatically. The current cycle is cancelled, no winner is drawn, and the group ends permanently. Members are classified based on their payment and win history. A member who has won and subsequently misses a payment is classified as a Defaulter. A member who has not won and misses a payment is classified as an Exiter. A member who has won and always paid on time is classified as an Innocent Winner. A member who has not won and always paid on time is classified as an Innocent Payer. Defaulters are subject to late fees, penalty fees, and potential collateral liquidation. Exiters lose certain rights to restoration and may forfeit a portion of their security deposit. Defaulters and Exiters may restore their status by paying all missed amounts, provided the group has not stopped due to excessive non-payment. Exiters may not restore status after the group has stopped. Defaulters may continue to pay after a stop until the end of the round to prevent collateral liquidation.
1.5 Security Deposits and Collateral
Upon joining, each member pays a security deposit, which is held to cover potential defaults within the group. The deposit amount is calculated based on group parameters and is disclosed before joining. The Company may contribute a portion of the security deposit at its discretion. Collateral is required from each member before any payout is released. The Platform assesses and scores all collateral provided. In the event of default, a Defaulter's collateral may be liquidated to satisfy outstanding obligations. Collateral is the sole source of refunds when a group stops. The security deposit pool is never used for refunds.
1.6 Refunds and Settlement
When a group stops, settlement occurs at the end of the round. Defaulters' collateral is liquidated into a refund pool. Refunds are distributed based on member classification. Innocent Payers receive a refund of their contributions and security deposit. Innocent Winners receive a refund of their security deposit. Exiters receive a refund of their contributions and a portion of their security deposit. Defaulters receive a portion of their security deposit, less applicable late and penalty fees. All refunds are processed simultaneously at round end. If a group completes normally, all members have won once, security deposits are returned in full, and no collateral is liquidated.
1.7 Wallet and Payment Methods
Transactions on the Platform are processed through the user's in-app Wallet and through integrated third-party payment gateway services. External payment methods, including bank transfers, are subject to the terms and conditions and transaction fees of the respective payment providers. The Company is not responsible for fees or delays imposed by third-party payment processors. All Platform transactions are recorded and visible in the user's transaction history.
SECTION 2: GLOBAL COMPANY TERMS AND CORE POLICIES
2.1 Account Security and Verification
You are solely responsible for maintaining the confidentiality of your account credentials and for all activity under your account. You must enable all available security features and notify the Company immediately of any suspected unauthorized access. Prohibited activities include creating multiple accounts, sharing credentials, fraud, money laundering, and any use of the Platform that violates applicable law. The Company reserves the right to require identity verification, including KYC procedures, at any time.
2.2 Platform Role Disclaimer
Family Equb PLC operates a technology platform that facilitates digital Equb groups. The Company is not a bank, deposit-taking institution, or lender. All funds are held in user-controlled Wallets or processed through licensed payment processors. Equb is a structured savings mechanism and does not constitute gambling or a lottery. Financial obligations exist primarily between group members. The Company provides infrastructure, automation, and risk mitigation tools but does not guarantee member performance. The Company may cancel groups, suspend users, or intervene in cases of fraud, systemic risk, or policy violations.
2.3 Fees
The Company charges Platform fees, which are deducted from payouts according to the published fee schedule. Administrative perks may be allocated to Group Organizers as configured. Additional charges may include late payment penalties, penalty fees for Defaulters, subscription fees for premium features, and third-party payment gateway transaction fees. All fees are disclosed before transactions are completed. The Company may update its fee structure upon reasonable notice.
2.4 Limitation of Liability and Indemnification
To the maximum extent permitted by law, the Platform is provided on an "as is" and "as available" basis without warranties of any kind. The Company shall not be liable for indirect, incidental, or consequential damages, or for member defaults, payment failures, disputes between members, user error, network failures, or actions of third-party providers. The Company's total aggregate liability shall not exceed the fees you paid in the twelve months preceding the claim. You agree to indemnify and hold harmless Family Equb PLC, its officers, employees, and affiliates from any claims, losses, or damages arising from your use of the Platform or violation of these Terms.
2.5 Intellectual Property
All rights in the Platform, including software, algorithms, designs, logos, and the "Family Equb" brand, are owned exclusively by Family Equb PLC. You are granted a limited, non-exclusive, non-transferable license to use the Platform for personal, lawful Equb activities. You may not copy, modify, reverse engineer, or create derivative works of the Platform.
2.6 Governing Law and Dispute Resolution
These Terms are governed by the laws of the Federal Democratic Republic of Ethiopia. Disputes shall first be resolved through the Company's internal grievance process. If unresolved, parties may submit to mediation in Addis Ababa, and thereafter to binding arbitration in accordance with Ethiopian law. Class actions and jury trials are waived where permitted.
SECTION 4: ACCEPTANCE AND MODIFICATIONS
Your use of the Platform constitutes acceptance of these Terms. The Company may update these Terms with notice through the Platform or email. Material changes may require your affirmative consent where required by law. Continued use after modification constitutes acceptance.
SECTION 5: CONTACT
For questions regarding these Terms, contact Family Equb PLC through the in-app support channels.
ACKNOWLEDGMENT
By clicking "I Agree" or continuing to use the Platform, you confirm that you have read, understood, and agree to be bound by these Terms of Service and Privacy Policy.