Terms of Service

By accessing or using the Raiz Auto platform (the "Service"), you agree to be bound by these Terms of Service ("Terms") and our Privacy Policy. If you do not agree, you must not use the Service.

Raiz Auto ("we," "our," or "us") reserves the right to modify these Terms at any time. Continued use of the Service after changes constitutes acceptance.

You must:

• Be at least 18 years of age.
• Be a registered business or individual operating lawfully in Nigeria.
• Complete our Know Your Customer (KYC) or Know Your Business (KYB) verification before transacting.
• Not be listed on any sanctions list or be a prohibited person under applicable law.

You are responsible for maintaining the confidentiality of your login credentials and transaction PIN. You must notify us immediately at support@raizauto.com if you suspect unauthorised access to your account.

One entity may hold one account. Creating multiple accounts to circumvent limits or restrictions is prohibited.

• Funding: Wallet deposits are processed through third-party payment gateways and automatically converted to USD at the live exchange rate at time of settlement.
• Balances: Your USD wallet balance is held in a pooled account on your behalf. Raiz Auto is not a bank and your wallet is not a deposit account.
• Locked funds: When you place a bid or Buy Now order, the corresponding amount is locked from your available balance. Locked funds are released only upon order cancellation or bid loss (minus applicable fees).
• Fees: A processing fee is charged on each successful purchase. Fees are disclosed before you confirm any transaction.
• No negative balances: You may not spend more than your available balance. Raiz Auto will never allow your wallet to go negative.

Raiz Auto provides access to third-party auction inventory from platforms including IAAI and Copart. We are not an auction house and do not own or warrant the condition of any vehicle.

• All purchases and bids are final once confirmed. You must review the vehicle condition report before committing funds.
• Raiz Auto will make reasonable efforts to execute your purchase or bid on your behalf but cannot guarantee lot availability, auction outcome, or vehicle condition.
• If a lot becomes unavailable after funds are locked, your wallet will be credited in full minus any applicable auction fees.

Shipping estimates provided at checkout are indicative only. Actual shipping fees, timelines, and port destinations are confirmed at the logistics quote stage. By accepting a logistics quote, you authorise the corresponding amount to be debited from your wallet.

Raiz Auto is not liable for delays caused by port congestion, customs authorities, force majeure events, or third-party shippers.

You may not:

• Use the Service for money laundering, fraud, or any unlawful purpose.
• Provide false or misleading KYC/KYB documentation.
• Attempt to circumvent security controls, including transaction PIN requirements.
• Resell or sublicense access to the Service to third parties.
• Scrape, reverse-engineer, or copy any part of the platform.

We may suspend or terminate your account immediately if we believe you have violated these Terms, engaged in fraudulent activity, or pose a risk to us or other users. Remaining available wallet balance will be returned subject to regulatory requirements.

To the maximum extent permitted by law, Raiz Auto is not liable for any indirect, incidental, special, or consequential damages arising from your use of the Service, including loss of profits, loss of data, or vehicle depreciation.

Our total liability for any claim shall not exceed the total fees paid by you to Raiz Auto in the three months preceding the claim.

Any dispute arising from these Terms shall be governed by the laws of the Federal Republic of Nigeria. You agree to first attempt resolution by contacting support@raizauto.com before initiating formal proceedings.

Questions about these Terms? Email legal@raizauto.com.