1. About these terms
These terms govern your use of Qeepa, including the app, website, and any services we provide. By creating an account or borrowing through Qeepa, you agree to these terms.
They sit alongside our Privacy Policy and any specific loan agreement you accept when you take out a loan. Where those documents conflict, the loan agreement applies first.
Qeepa Ltd ("Qeepa", "we", "our") is a registered finance company. You ("you", "your") are the customer using the service.
2. Who can use Qeepa
To use Qeepa you must:
- Be at least 18 years old
- Live in a region where we are licensed to operate
- Be the legal owner of any item you offer as collateral
- Pass our identity and eligibility checks
- Hold a bank account in your own name
We may decline to open an account, decline a loan, or close an account if these conditions are not met or if we have reasonable cause for concern.
3. Your account
You are responsible for keeping your login details safe and for everything that happens on your account. If you think someone else has access to it, contact us immediately so we can help secure it.
You agree to give us accurate information when you sign up, and to keep it up to date.
4. Valuations
When you ask us to value an item, we provide an estimate based on photos, the model and condition you describe, and current resale market data. The estimate is not a binding offer. We confirm the final loan amount only after we receive the item and verify it in person.
If the item differs from what you described, we may revise or withdraw the offer. You are free to decline the revised offer, in which case we will return the item to you at our cost.
5. Loans
Each loan is made under a separate loan agreement which sets out the exact amount, term, interest, repayment schedule, and any other specifics. The rules in this section apply to every loan unless the loan agreement says otherwise.
5.1 Loan amount
We lend up to 70% of the verified value of the item you pledge. Loan amounts range from ₦50,000 to ₦5,000,000.
5.2 Interest
Interest accrues daily at the rate set out in your loan agreement. Interest stops accruing the moment the loan is fully repaid.
5.3 Term
You choose a term of 3, 6, 9, or 12 months. You can repay earlier without penalty.
5.4 Repayments
You agree to repay the loan according to the schedule in the loan agreement. Payments are taken from the bank account you have linked.
5.5 Late payment
If a payment fails or is late, we will try to contact you and arrange another date. We do not charge late-payment fees and we do not pass missed payments to credit reference agencies.
5.6 Default
If you stop paying entirely, then after a reasonable period and at least one written notice we will close the loan and keep the pledged item. There is nothing further to pay and no further consequence.
6. Your item
While we hold your item, we agree to:
- Store it in a climate-controlled, insured facility
- Photograph and tag it on receipt
- Keep it in the same condition as when we received it
- Return it to you, at our cost, within five business days of full repayment
You agree that:
- The item is yours to pledge, free of any other claim
- You will not pledge the same item with another lender during the loan term
- The information you gave us about the item is accurate
If we lose, damage, or fail to return your item due to our fault, we will compensate you up to the agreed value of the item plus any interest you paid.
7. Fees
We do not charge:
- Application fees
- Origination fees
- Early-repayment fees
- Late-payment fees
- Account fees
The only money you pay us is the interest set out in your loan agreement.
8. Acceptable use
You agree not to use Qeepa to launder money, finance unlawful activity, or pledge items that are stolen, counterfeit, or otherwise unlawful for you to sell. You agree not to interfere with our systems or attempt to access accounts that aren't yours.
If we suspect any of the above, we may suspend your account, hold the item, and report it to the relevant authorities.
9. Intellectual property
The Qeepa name, logo, app, and website content are owned by Qeepa or our licensors. You get a personal, non-exclusive right to use the app and website to use the service. You don't get any other rights.
10. Liability
Nothing in these terms limits our liability for fraud, gross negligence, or anything that cannot be limited by law.
To the extent permitted by law, our total liability under these terms is limited to the amount we agreed your item was worth. We are not responsible for indirect or consequential losses.
11. Termination
You can close your account at any time, provided you have no active loans. We can close your account if you breach these terms, if we are required to by law, or if we stop offering the service in your region. Where reasonable, we will give you advance notice.
12. Changes to these terms
We update these terms from time to time. We will tell you about material changes through the app or by email at least 30 days in advance. If you don't agree to the change, you can close your account before it takes effect.
13. Governing law
These terms are governed by the laws of England and Wales. Any disputes will be resolved in the courts of that jurisdiction. This does not affect any rights you have under your local consumer protection laws.
14. Contact
Questions about these terms? Write to legal@qeepa.com.