Terms of Service

Modified on 07 February 2022

1. Privacy Policy

This Privacy Policy describes your privacy rights regarding AJOHYBRID’s (“we”, “us” or “our”) collection, use, storage, sharing and protection of your personal information. It applies to our website and all related sites, applications, services and tools regardless of how you access or use them. This Privacy Policy will help you understand how we use your information and what we do with it. We respect the privacy of our online visitors and registered users (“Users”) as such we will take reasonable steps to protect your information.

1.1. Necessary Upgrades to Privacy Policy

We may need to update, modify or amend our privacy policy as our technology evolves. We reserve the right to make changes to this privacy policy at any time by giving notice to Users on our platform. Every new update/change made to our privacy policy will be communicated accordingly through our accredited channels. Users of our platform are expected to read up and follow on these updates.

2. Information Collection/Ownership/Usage/Disclosure Policy

2.1 Personal Information

1. Having registered on our platform, personal information such as email address, password, name, telephone No and business name will be collected and stored. We use your Personal Information to:
   1. provide you with the required services.
   2. respond to your questions or requests
   3. improve AJOHYBRID’s operations
   4. address inappropriate use of our website
   5. prevent, detect and manage risk against fraud and illegal activities
   6. target advertisements, newsletter and service updates
   7. verify the information that you provide with third parties
   8. update our database, improve content and website layout
   9. resolve disputes that may arise
2. We may retrieve additional Personal Information about you from third parties and other identification/verification services such as your financial Institution, payment processor and verification services. With your consent, we may also collect additional Personal Information in other ways including emails, surveys, and other forms of communication. Once you begin using our services through your AJOHYBRID account we will keep records of your transactions and collect information of your other activities related to our services. We will not share or disclose your Personal Information with a third party without your consent.

2.2. Web-Guest Information Policy

1. Our platform does not collect Personal Information from guests/visitors. However, non-personally-identifiable information maybe collected. This is to enable us target strategic adverts towards you. Such information collected from you will not be disclosed or shared with any third-party agents.

2.3. Checkout Information Collection Policy

When you make payments with AJOHYBRID, we collect and store your payment details, your email address and your mobile phone number. We may share your contact information with our technical partners as part of your payment details for record purposes. We will not share this information with other third parties except as a necessary part of providing our website and services.

2.4. Cookies

Like every other well-meaning firm, we use cookies & sessions to identify you as a User and make your user experience easier, customize our services, content and advertising; help you ensure that your account security is not compromised, mitigate risk and prevent fraud; and to promote trust and safety on our platforms. Cookies allow our servers to remember your account log-in information when you visit our platforms, IP addresses, date and time of visits, monitor web traffic and prevent fraudulent activities. If your browser or browser add-on permits, you have the choice to disable cookies on our platforms, however this may limit your ability to use our services.

3. Network Security/Third Party Connection Policy

Third party access to the network will be based on a formal contract that satisfies all necessary security conditions. All third-party access to the network are logged.

4. Encryption Policy

Our Platform uses software encryption technology to protect Confidential Information or (Personal Identification Information) - PII. To provide the highest-level security while balancing throughput and response times, encryption key lengths uses current industry standard encryption algorithms for Confidential Information or PII.

5. Physical Security and Confidentiality Data Policy

AJOHYBRID is committed to managing user Personal Information in line with global industry best practices. All Personal Information is protected using physical, technical, and administrative security measures to reduce the risks of loss, misuse, unauthorized access, disclosure and alteration, we also use industry-standard Secure Socket Layer (SSL) encryption technology to safeguard Personal Information. Other security safeguards include but are not limited to data encryption, firewalls, and physical access controls to our building and files and only granting access to Personal Information to only employees who require it to fulfil their job responsibilities.

5.1. Information Sharing with Third Party Policy

To enable us render our services adequately, we may share user information with trusted third parties, such third parties include financial institutions, payment processors verification services, as well as any third parties that users have directly authorized to receive their Personal Information. User Personal Information may be stored in locations outside the direct control of AJOHYBRID, for instance, on servers or databases co-located with hosting providers.
We may disclose user Personal Information compliance with applicable law or a legal obligation to which we are bound.
Please AJOHYBRID is not responsible for any breach of your account due to your own careless use of the platform.

6. Password Policy

Password Construction Requirements

• Be a minimum length of eight (8) characters on all systems.
• Not be a dictionary word or proper name
• Not be the same as the User ID.
• Not be transmitted in the clear or plaintext outside the secure location.
• Not be displayed when entered.
• Ensure passwords are only reset for authorized user.

By using this website (www.ajohybrid.com), any of our websites and/or services, you agree to these Terms of Use. The website Privacy Policy, Acceptable Use Policy and Merchant Terms of Service (where applicable) are incorporated by reference into these Terms of Use.

7. Cooperative Borrowing

Process for Borrowing contributed funds

• A Loanee Must be financially up to date - must have steadily made their contributions without defaults
• Qualifying Member/Loanee can borrow up to 3 times of their monthly contributions
• The Loan applicant must provide Guarantor(s) within the cooperative. That is, the Guarantor must be an up-to-date member of the Cooperative
• Loan Guarantor(s) must have contribution in the cooperative equal to or in excess of Loan being guranteed
• A hold will be placed on Guarantors funds equivalent to the amount they are guaranteeing
• Loans are for a maximum period of 18 months per instance
• Interest on loans will be as prescribed by credit committee
• Loans can be repaid early without penalties
• All holds on Guarantors funds will be released when loans are repaid
• Upon default by a member, pledged Guarantor's funds will be immediately applied to offset default
• Loans are on a first come first served basis and subject to availability of funds
• The Credit Committee with approval of the Management Committee and General body will update loan terms as needed

8. Ajo Group Borrowing

Borrowing From the Ajo Group

• A member must be financially up-to-date with Group Contributions
• Members monthly Contributions in the "Cooperative" and the Ajo Group can be used as Loan Security/Guarantee for loans
• Loan interest and terms will be as agreed by "Group Members"
• Such agreements may be different from Cooperative Terms.
• Each member must accept the terms to benefit. Such terms must be clearly communicated to members