FUTA MART Terms of Service

1. Acceptance of Terms & Scope

FUTA MART operates a decentralized campus marketplace, on-demand dispatch courier coordination system, and campus vendor platform. By registering an account, posting an item, initiating an escrow transaction, or accepting a dispatch task, you enter into a legally binding agreement with FUTA MART.

If you do not agree to these terms, you must discontinue your use of FUTA MART immediately. We reserve the right to modify these terms periodically; continued usage following updates indicates acceptance of revised terms.

2. Account Registration, Eligibility & Security

• Users must provide authentic contact details, including a valid phone number and active campus location.
• You are solely responsible for maintaining the confidentiality of your authentication credentials and session tokens.
• Users may not create multiple fake profiles or impersonate other students, lecturers, or vendors.
• Merchant accounts (Tier 1 & Tier 2) undergo verification and must comply with higher standards of fulfillment and product quality.

3. Listing & Posting Rules

• Accurate Imagery: Photos must be authentic representations of the actual product being sold. Stock or generic images for used electronics or second-hand items are prohibited.
• Condition Disclosure: Any defects, screen cracks, battery wear, or missing accessories must be clearly stated in the item description.
• Fair Pricing: Prices must be listed in Nigerian Naira (₦). Bait-and-switch pricing or listing at ₦0 to solicit bids is forbidden.
• Stock Integrity: Once an item is sold or unavailable, the seller must promptly mark the listing as sold or delete it.

5. Escrow Protection & Handshake PIN Protocol

To ensure complete transactional security, FUTA MART utilizes a quarantined double-handshake PIN protocol:

• Quarantined PINs: Delivery and pickup PINs remain locked and invisible until the buyer completes payment into escrow.
• Mandatory Physical Inspection: Buyers must inspect gadgets, test functionality, and verify condition before verbally providing their secret 4-digit release PIN.
• Irrevocable Release: Once the seller or courier inputs the correct release PIN in the app, funds are permanently transferred to the seller's wallet. PINs must NEVER be shared over WhatsApp or phone calls prior to physical handover.

6. Platform Fees, Payouts & Withdrawals

• Escrow Commission: A minimal platform protection fee of 2.5% is deducted from the seller upon successful transaction settlement.
• Withdrawals: Sellers can withdraw cleared funds directly to any Nigerian commercial bank account via NIP. Minimum withdrawal threshold is ₦500.
• Promotions & Ads: Sponsored placements and daily boosts are non-refundable once the campaign has begun serving impressions.

7. Disputes, Cancellation & Enforcement

If a buyer finds that an item differs materially from the description, they have the right to refuse the handshake PIN and trigger a dispute in the order screen. An administrator will review chat records, pictures, and delivery timelines within 2 hours to authorize a full refund or mediation.

8. Limitation of Liability

FUTA MART provides the technology and escrow rail connecting independent campus buyers, sellers, and dispatch drivers. While we enforce strict KYC and escrow, transactions conducted off-platform (e.g. cash without escrow, external bank transfers) forfeit all platform guarantees and are conducted strictly at the user's personal risk.