Please read these Terms of Service carefully before using the Teracore platform. By accessing or using our services, you agree to be bound by these terms.
Table of Contents
1. Acceptance of Terms
These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you," or "your") and Teracore Technologies Limited ("Teracore," "we," "us," or "our"), a company incorporated under the laws of the Federal Republic of Nigeria, with its principal office located in Lagos, Nigeria.
By creating an account, accessing, or using the Teracore platform, website (teracore.co), mobile applications, APIs, or any related services (collectively, the "Platform"), you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy.
If you are entering into these Terms on behalf of a business, organization, or other legal entity, you represent and warrant that you have the authority to bind such entity to these Terms. In that case, "you" and "your" shall refer to such entity.
If you do not agree with any part of these Terms, you must not access or use the Platform.
2. Description of Service
Teracore provides AI-powered trade infrastructure for emerging markets. Our Platform enables manufacturers, distributors, wholesalers, agro-aggregators, and financial institutions to manage, monitor, and finance trade operations with greater visibility, control, and discipline.
The Platform includes, but is not limited to, the following features and services:
2.1 Trade Infrastructure
Digital tools for managing orders, inventory, receivables, and distribution networks. The Platform records and structures trade data across supply chains, providing real-time visibility into sell-through performance, stock levels, and distributor activity.
2.2 Mobile Application
A mobile and WhatsApp-based interface that allows distributors, retailers, and field agents to capture transactions, update inventory, and manage orders from anywhere. The mobile application is designed for simplicity and operates effectively in low-bandwidth environments.
2.3 Analytics and Insights
Data analytics dashboards and reporting tools that provide actionable insights into trade performance, credit risk, inventory turnover, and market trends. Our AI-powered analytics help businesses identify opportunities, detect risks early, and make data-driven decisions.
2.4 Trade Financing Features
Facilitation of structured financing through connections with partner banks and financial institutions. Teracore enables users to build verifiable business records that can be used to access credit, working capital facilities, and other financial products. Teracore is not itself a financial institution, lender, or bank, and does not directly provide loans, credit, or financial instruments.
We reserve the right to modify, suspend, or discontinue any aspect of the Platform at any time, with or without notice, subject to applicable law.
3. Account Registration and Security
3.1 Eligibility
To use the Platform, you must be at least 18 years of age (or the legal age of majority in your jurisdiction) and have the legal capacity to enter into binding agreements. If you are registering on behalf of a business entity, you represent that such entity is duly organized and validly existing under the laws of its jurisdiction of formation.
3.2 Account Creation
You must provide accurate, current, and complete information during the registration process, including your legal name (or business name), valid email address, phone number, and any other information we may reasonably request. You agree to promptly update your account information to keep it accurate and complete.
3.3 Account Security
You are responsible for maintaining the confidentiality of your account credentials, including your password and any API keys or access tokens associated with your account. You agree to:
- Create a strong, unique password for your Teracore account;
- Not share your account credentials with any unauthorized third party;
- Immediately notify Teracore at legal@teracore.co if you suspect any unauthorized access to or use of your account;
- Accept full responsibility for all activities that occur under your account.
Teracore shall not be liable for any loss or damage arising from your failure to safeguard your account credentials.
3.4 Know Your Customer (KYC)
We may require you to provide additional identification and verification documents to comply with applicable anti-money laundering (AML) and know-your-customer (KYC) regulations. Failure to provide requested documentation may result in limitations on your use of the Platform or termination of your account.
4. Acceptable Use Policy
You agree to use the Platform only for lawful purposes and in accordance with these Terms. You shall not, and shall not permit any third party to:
- Use the Platform for any illegal, fraudulent, or unauthorized purpose, including but not limited to money laundering, terrorist financing, fraud, or the facilitation of any criminal activity;
- Submit false, misleading, or inaccurate data, trade records, inventory information, or transaction details to the Platform;
- Attempt to gain unauthorized access to any portion of the Platform, other user accounts, computer systems, or networks connected to the Platform;
- Interfere with, disrupt, or place an unreasonable burden on the Platform or its infrastructure, including through the use of bots, scrapers, automated scripts, or denial-of-service attacks;
- Reverse-engineer, decompile, disassemble, or otherwise attempt to derive the source code, algorithms, or underlying structure of any part of the Platform;
- Copy, reproduce, distribute, modify, create derivative works from, publicly display, or commercially exploit any content or materials from the Platform without prior written consent from Teracore;
- Use the Platform to transmit any viruses, malware, spyware, or other harmful or malicious code;
- Impersonate any person or entity, or falsely state or misrepresent your affiliation with any person or entity;
- Violate any applicable local, state, national, or international law, regulation, or standard, including Nigerian trade and financial regulations;
- Circumvent, disable, or otherwise interfere with any security-related features of the Platform.
Teracore reserves the right to investigate any suspected violations of this Acceptable Use Policy and to take appropriate action, including suspending or terminating your account, reporting violations to law enforcement authorities, and pursuing any available legal remedies.
5. Business Data and Transactions
5.1 Ownership of Your Data
You retain all right, title, and interest in the business data, trade records, transaction information, and other content you submit to or generate through the Platform ("Your Data"). By using the Platform, you grant Teracore a non-exclusive, worldwide, royalty-free license to use, process, store, and display Your Data solely for the purpose of providing and improving the Platform and our services.
5.2 Aggregated and Anonymized Data
Teracore may create aggregated, anonymized, or de-identified data derived from Your Data and the data of other users. Such aggregated data will not identify you or any individual user. Teracore may use this aggregated data for any lawful business purpose, including analytics, benchmarking, research, product development, and sharing industry insights with third parties.
5.3 Data Accuracy
You are solely responsible for the accuracy, quality, completeness, and legality of Your Data and the means by which you acquired it. Teracore does not independently verify the accuracy of data submitted by users and shall not be liable for any decisions made or actions taken based on inaccurate data.
5.4 Transaction Records
The Platform may generate records of orders, deliveries, payments, and other trade transactions. While Teracore strives to maintain accurate records, these records are provided for informational purposes and should not be relied upon as the sole evidence of any transaction. You are responsible for maintaining your own independent records of your business activities.
5.5 Data Retention and Portability
Teracore will retain Your Data for as long as your account is active or as needed to provide you with our services, comply with legal obligations, resolve disputes, and enforce our agreements. Upon termination of your account, you may request an export of Your Data, subject to our data retention policies and applicable law.
6. Intellectual Property
6.1 Teracore's Intellectual Property
The Platform, including all software, code, algorithms, machine learning models, user interface designs, graphics, logos, trademarks (including the "Teracore" name and logo), trade names, service marks, domain names, documentation, and all other materials and content provided by Teracore (collectively, "Teracore IP"), are the exclusive property of Teracore or its licensors and are protected by Nigerian and international intellectual property laws.
6.2 Limited License
Subject to your compliance with these Terms, Teracore grants you a limited, non-exclusive, non-transferable, non-sublicensable, and revocable license to access and use the Platform solely for your internal business purposes. This license does not grant you any ownership interest in the Platform or Teracore IP.
6.3 Restrictions
Except as expressly permitted by these Terms, you may not:
- License, sell, rent, lease, transfer, assign, or otherwise commercially exploit the Platform or any Teracore IP;
- Modify, create derivative works of, or make copies of the Platform or any Teracore IP;
- Remove, alter, or obscure any proprietary notices, labels, or marks on the Platform;
- Use the Teracore name, logo, or trademarks without prior written consent.
6.4 Feedback
If you provide Teracore with any feedback, suggestions, ideas, or recommendations regarding the Platform ("Feedback"), you hereby assign to Teracore all right, title, and interest in such Feedback. Teracore may use, implement, and commercialize any Feedback without restriction and without any obligation or compensation to you.
7. Third-Party Services
7.1 Financial Partners
The Platform may facilitate connections between you and third-party financial institutions, banks, fintech companies, and lending partners ("Financial Partners") for the purpose of trade financing, credit assessment, and related financial services. Teracore acts solely as an intermediary and technology provider in these arrangements. Any financial products, loans, credit facilities, or other financial services you obtain through Financial Partners are subject to separate terms and conditions established by those Financial Partners. Teracore does not guarantee the availability, approval, or terms of any financing.
7.2 Payment Processors
Payments processed through the Platform may be handled by third-party payment processors and payment gateway providers. Your use of such payment services is subject to the terms and conditions and privacy policies of those third-party processors. Teracore is not responsible for the acts or omissions of any third-party payment processor, including any errors, delays, or failures in payment processing.
7.3 Other Third-Party Services
The Platform may integrate with or contain links to third-party websites, applications, services, or content that are not owned or controlled by Teracore. We do not endorse or assume any responsibility for any third-party services. Your use of any third-party services is at your own risk and subject to the terms and conditions of those third parties.
7.4 No Endorsement
The inclusion of any third-party service, product, or link on the Platform does not constitute an endorsement, guarantee, or recommendation by Teracore. We make no representations or warranties regarding the quality, reliability, accuracy, or suitability of any third-party services.
8. Limitation of Liability
8.1 Disclaimer of Warranties
THE PLATFORM IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, TERACORE DISCLAIMS ALL WARRANTIES, INCLUDING WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.
Teracore does not warrant that: (a) the Platform will be uninterrupted, timely, secure, or error-free; (b) the results obtained from the Platform will be accurate, reliable, or complete; (c) any errors or defects in the Platform will be corrected; or (d) the Platform will meet your specific business requirements.
8.2 Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL TERACORE, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, AFFILIATES, SUCCESSORS, OR ASSIGNS BE LIABLE FOR:
- Any indirect, incidental, special, consequential, punitive, or exemplary damages, including but not limited to damages for loss of profits, revenue, data, business opportunities, goodwill, or other intangible losses;
- Any loss or damage arising from unauthorized access to, alteration of, or loss of your data or transmissions;
- Any loss or damage resulting from any third-party services, Financial Partners, or payment processors accessed through the Platform;
- Any business decisions made in reliance on data, analytics, or insights provided by the Platform.
IN ANY EVENT, TERACORE'S TOTAL AGGREGATE LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THESE TERMS OR YOUR USE OF THE PLATFORM SHALL NOT EXCEED THE TOTAL FEES PAID BY YOU TO TERACORE DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM, OR ONE HUNDRED THOUSAND NAIRA (NGN 100,000), WHICHEVER IS GREATER.
The limitations set forth in this section shall apply regardless of the form of action, whether in contract, tort (including negligence), strict liability, or otherwise, even if Teracore has been advised of the possibility of such damages.
9. Indemnification
You agree to indemnify, defend, and hold harmless Teracore, its directors, officers, employees, agents, affiliates, successors, and assigns from and against any and all claims, demands, actions, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees and legal costs) arising out of or in connection with:
- Your use of or access to the Platform;
- Your violation of these Terms or any applicable law, regulation, or third-party right;
- Any data, content, or information you submit, post, or transmit through the Platform;
- Any dispute between you and any third party, including Financial Partners, payment processors, suppliers, distributors, or customers;
- Your negligence, willful misconduct, or fraudulent activity;
- Any breach of your representations and warranties set forth in these Terms.
Teracore reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you agree to cooperate with Teracore in asserting any available defenses.
10. Termination
10.1 Termination by You
You may terminate your account at any time by contacting us at legal@teracore.co or through the account settings within the Platform. Upon termination, your right to access and use the Platform will cease immediately.
10.2 Termination by Teracore
Teracore may suspend or terminate your account and access to the Platform at any time, with or without cause, and with or without notice, including but not limited to situations where:
- You breach any provision of these Terms;
- You engage in fraudulent, illegal, or abusive activity;
- You fail to comply with KYC or AML requirements;
- Your account has been inactive for an extended period;
- Teracore is required to do so by law, regulation, or court order;
- Teracore decides to discontinue the Platform or any part thereof.
10.3 Effect of Termination
Upon termination of your account, regardless of the reason:
- All licenses and rights granted to you under these Terms will immediately terminate;
- You must cease all use of the Platform;
- Teracore may delete or retain Your Data in accordance with our data retention policies and applicable law;
- Any outstanding fees or obligations owed to Teracore shall become immediately due and payable;
- Sections of these Terms that by their nature should survive termination shall continue in full force and effect, including but not limited to Sections 5 (Business Data), 6 (Intellectual Property), 8 (Limitation of Liability), 9 (Indemnification), and 11 (Dispute Resolution).
11. Dispute Resolution
11.1 Governing Law
These Terms and any dispute or claim arising out of or in connection with them (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
11.2 Informal Resolution
Before initiating any formal dispute resolution proceedings, you agree to first contact Teracore at legal@teracore.co and attempt to resolve any dispute informally. Both parties agree to negotiate in good faith for a period of at least thirty (30) days from the date the dispute is first raised in writing.
11.3 Mediation and Arbitration
If a dispute cannot be resolved informally within the thirty (30) day period, either party may refer the dispute to mediation under the rules of the Lagos Court of Arbitration (LCA). If mediation fails to resolve the dispute within sixty (60) days, either party may refer the dispute to binding arbitration under the Arbitration and Mediation Act of Nigeria. The arbitration shall be conducted in Lagos, Nigeria, in the English language, and the decision of the arbitrator(s) shall be final and binding on both parties.
11.4 Jurisdiction
For any disputes that are not subject to arbitration, or for interim or injunctive relief, you irrevocably submit to the exclusive jurisdiction of the courts located in Lagos State, Nigeria.
11.5 Class Action Waiver
To the fullest extent permitted by applicable law, you agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated, or representative action. You waive any right to participate in any class action or class-wide arbitration.
12. Changes to Terms
Teracore reserves the right to modify, amend, or update these Terms at any time at its sole discretion. When we make material changes, we will:
- Update the "Effective Date" at the top of this page;
- Provide notice of the changes through the Platform, by email to the address associated with your account, or through other reasonable means;
- Where required by applicable law, obtain your consent to the updated Terms.
Your continued use of the Platform after the effective date of any updated Terms constitutes your acceptance of the revised Terms. If you do not agree with any changes, you must stop using the Platform and terminate your account.
We encourage you to review these Terms periodically to stay informed of any updates.
13. Contact Information
If you have any questions, concerns, or requests regarding these Terms of Service, please contact us at:
Teracore Technologies Limited
Lagos, Nigeria
Email: legal@teracore.co
Website: https://teracore.co
For general inquiries and support, you may also reach us at hello@teracore.co.
For partnership and business inquiries, contact partners@teracore.co.