Terms of Service

Acceptance of Terms

By creating an account, accessing, or using LoSave, you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy. These Terms constitute a legally binding agreement between you and Lofti Technologies.

You represent and warrant that:

• You are at least 18 years of age or the age of legal majority in your jurisdiction
• You have the legal capacity to enter into a binding agreement
• You are not prohibited by law from using financial management services
• All information you provide during registration and use of the Service is accurate and complete

Definitions

For the purposes of these Terms:

"Account"

means your registered account on the LoSave platform.

"Group"

means a Village Banking group created and managed through the Service.

"Member"

means an individual who has joined a Group through the Service.

"Group Administrator"

means a Member with elevated permissions within a Group (e.g., Chairperson, Treasurer).

"Subscription"

means a paid plan that provides access to premium features.

"Content"

means any information, data, text, or materials uploaded to the Service.

"User"

means any individual who accesses or uses the Service.

User Accounts

3.1 Account Registration

To use certain features of the Service, you must create an account. You agree to provide accurate, current, and complete information during registration and to update such information to keep it accurate, current, and complete.

3.2 Account Security

You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. You agree to:

• Create a strong, unique password for your account
• Enable two-factor authentication when available
• Immediately notify us of any unauthorized access or security breach
• Not share your account credentials with any third party

3.3 Account Suspension

We reserve the right to suspend or terminate your account if we reasonably believe that you have violated these Terms, engaged in fraudulent activity, or pose a security risk to the Service.

Subscription and Billing

4.1 Subscription Plans

LoSave offers various subscription plans with different features and pricing. Current plans and pricing are available on our Pricing page. We reserve the right to modify plans and pricing with reasonable notice.

4.2 Free Trial

New Groups may be eligible for a free trial period. The trial duration is calculated as half of your Group's cycle length. At the end of the trial, you must subscribe to continue using premium features.

4.3 Payment Terms

Subscription fees are billed in advance on a monthly or annual basis. All fees are quoted in Zambian Kwacha (ZMW). We accept Mobile Money (MTN, Airtel, Zamtel), bank cards, and bank transfers with proof of payment when these payment methods are available.

4.4 Automatic Renewal

Subscriptions automatically renew at the end of each billing period unless you cancel before the renewal date. You may cancel your subscription at any time through your account settings.

4.5 Failed Payments

If a payment fails, we will attempt to charge your payment method again. After multiple failed attempts, your account may be downgraded to read-only mode until payment is resolved.

Refund Policy

5.1 General Refund Policy

All subscription fees paid to LoSave are generally non-refundable. By subscribing to the Service, you acknowledge that you are purchasing access to digital services that are delivered immediately upon payment.

5.2 Eligible Refund Situations

Refunds may be considered at our sole discretion in the following limited circumstances:

• Duplicate Payments: If you were accidentally charged multiple times for the same subscription period
• Technical Errors: If a technical issue on our end prevented you from accessing the Service for a significant portion of your billing period
• Billing Errors: If you were charged an incorrect amount due to a system error
• Service Unavailability: If the Service was completely unavailable for more than 7 consecutive days due to issues within our control

5.3 Refund Request Process

To request a refund, you must:

• Submit a refund request within 14 days of the charge date
• Contact our support team at billing@losave.app
• Provide your account details, payment reference, and reason for the refund request
• Include any supporting documentation (e.g., screenshots, payment receipts)

5.4 Refund Processing

We will review refund requests within 7 business days. If approved, refunds will be processed to the original payment method within 14 business days. Please note that your bank or mobile money provider may take additional time to credit your account.

5.5 Non-Refundable Situations

Refunds will NOT be provided in the following situations:

• Change of mind or deciding not to use the Service after purchase
• Failure to cancel before automatic renewal
• Violation of these Terms resulting in account suspension or termination
• Dissatisfaction with features that were clearly described before purchase
• Inability to use the Service due to your own technical issues (e.g., internet connectivity, device compatibility)
• Partial use of the subscription period
• Free trial conversions if you did not cancel before the trial ended

5.6 Prorated Credits

If you cancel your subscription, you will retain access to premium features until the end of your current billing period. We do not provide prorated refunds or credits for unused portions of your subscription.

5.7 Subscription Downgrades

If you downgrade from a higher-tier plan to a lower-tier plan, the change will take effect at the start of your next billing period. No refunds or credits will be provided for the difference in plan pricing.

User Conduct

You agree not to:

• Use the Service for any illegal or unauthorized purpose
• Violate any applicable laws, regulations, or third-party rights
• Upload or transmit viruses, malware, or other harmful code
• Attempt to gain unauthorized access to the Service or other users' accounts
• Interfere with or disrupt the integrity or performance of the Service
• Use the Service to launder money, finance terrorism, or engage in fraud
• Impersonate any person or entity or falsely represent your affiliation
• Collect or harvest information about other users without consent
• Use automated systems (bots, scrapers) to access the Service
• Circumvent any security measures or access restrictions

Village Banking Groups

7.1 Group Creation and Management

Users may create and manage Village Banking Groups through the Service. The individual who creates a Group is designated as the Chairperson and is responsible for setting Group rules, inviting members, and managing Group activities.

7.2 Group Governance

Each Group operates according to its own internal rules and governance structure as configured by the Group Administrator. LoSave is not a party to any agreements between Group members and does not mediate disputes within Groups.

7.3 Financial Transactions

LoSave provides tools for recording and tracking savings, loans, and other financial transactions within Groups. However, LoSave does not hold, transfer, or manage any funds. All financial transactions occur directly between Group members through their chosen payment methods.

Intellectual Property

8.1 Our Intellectual Property

The Service, including its design, features, content, and underlying technology, is owned by Lofti Technologies and is protected by copyright, trademark, and other intellectual property laws. You may not copy, modify, distribute, or create derivative works without our prior written consent.

8.2 Your Content

You retain ownership of any content you upload to the Service. By uploading content, you grant us a non-exclusive, worldwide, royalty-free license to use, store, and display your content solely for the purpose of providing the Service.

8.3 Feedback

If you provide feedback, suggestions, or ideas about the Service, we may use such feedback without any obligation to compensate you.

Privacy and Data Protection

Your privacy is important to us. Our collection and use of personal information is governed by our Privacy Policy, which is incorporated into these Terms by reference.

We implement appropriate technical and organizational measures to protect your data against unauthorized access, alteration, disclosure, or destruction. However, no method of transmission over the Internet is 100% secure.

Limitation of Liability

10.1 Disclaimer of Warranties

10.2 Limitation of Damages

TO THE MAXIMUM EXTENT PERMITTED BY LAW, LOFTI TECHNOLOGIES SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, OR GOODWILL, ARISING OUT OF OR RELATED TO YOUR USE OF THE SERVICE.

10.3 Cap on Liability

Our total liability for any claims arising from or related to the Service shall not exceed the amount you paid us in subscription fees during the twelve (12) months preceding the claim.

Indemnification

You agree to indemnify, defend, and hold harmless Lofti Technologies, its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses (including legal fees) arising out of or related to:

• Your use of the Service
• Your violation of these Terms
• Your violation of any third-party rights
• Any content you upload to the Service
• Your participation in any Village Banking Group

Termination

12.1 Termination by You

You may terminate your account at any time through your account settings. Upon termination, your right to use the Service will immediately cease. You must settle any outstanding obligations before termination.

12.2 Termination by Us

We may suspend or terminate your access to the Service at any time, with or without cause, and with or without notice. Grounds for termination include violation of these Terms, fraudulent activity, or extended inactivity.

12.3 Effect of Termination

Upon termination, we may retain your data for accounting and legal purposes as described in our Privacy Policy. Sections of these Terms that by their nature should survive termination shall continue in effect.

Modifications to Terms

We reserve the right to modify these Terms at any time. We will notify you of material changes by posting the updated Terms on our website and updating the "Last Updated" date. Your continued use of the Service after changes become effective constitutes acceptance of the modified Terms.

If you do not agree to the modified Terms, you must stop using the Service and terminate your account.

Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Republic of Zambia, without regard to its conflict of law principles.

Any disputes arising from or relating to these Terms or the Service shall be resolved through binding arbitration in Lusaka, Zambia, in accordance with the Arbitration Act of Zambia. You waive any right to participate in a class action lawsuit or class-wide arbitration.

Contact Information

If you have any questions about these Terms, please contact us: