Partners Terms and Conditions

Terms and Conditions for Ovadraft Affiliates (Partners)

Effective Date: October 11, 2024

These Terms and Conditions ("Terms") apply to affiliates ("Partners") who collaborate with Ovadraft and Smart Cover Africa Ltd. ("the Companies"). By registering as a Partner, you agree to be bound by these Terms and any amendments made from time to time. Please read carefully.

Definitions

• Ovadraft: A solution provider that offers flexible financing for medical and utility services.
• Smart Cover Africa Ltd: A registered social enterprise offering affordable medical solutions.
• Partner/Affiliate: An individual or entity that registers with the Companies to promote Ovadraft products and services and earns commissions based on user transactions and vendor interactions.
• Commission: Earnings due to the Partner as a percentage of specific activities undertaken by users and vendors.
• Ovadraft Platform: Is not a Multi Level Marketing Platform, hence can NEVER be treated as such.

Affiliate Earnings Structure

• Instant Registration Commission: 20% of the registration fee paid.
• User Transaction Fees: 15% of the transaction fee charged to users for a period of 2 years from the date of the user's first transaction.
• Vendor Transaction Fees: 10% of the transaction fee charged to vendors for a period of 1 year from the vendor's first transaction.
• Partners (Affiliates) Registration: Partners will receive a 5% commission for each individual they register, along with an additional 5% on the total earnings generated from those partners for the first month. Subsequently, they will earn 2% on the total earnings from the second generation of partners.

Registration Levels

• N20,000 Registration Level - Student package
• N50,000 Registration Level
• N100,000 Registration Level - VP Package Registration is renewed annually. If your registration expires, your earnings will stop, and you will lose access to any funds in your wallet. Upon reactivation of your registration, any earnings accrued before the activation will not be paid out. However, the funds in your wallet will be secured.

Limitation of Liability Ovadraft and Smart Cover Africa Ltd. ("the Companies") shall not be liable for any loss, damages, or claims arising from or related to your role as a Partner. The Companies are immune from all legal or financial liability connected to the following:

• Any loss incurred as a result of users or vendors failing to meet financial obligations or fulfill commitments.
• Any third-party claims or disputes arising out of your marketing, promotions, or business activities as a Partner.
• Any personal, professional, or reputational damages you may suffer in the course of your role as a Partner. By participating as a Partner, you agree that the Companies' total liability to you, under any circumstance, shall not exceed the amount of commissions paid to you over the course of your partnership.

Responsibilities of the Partner

• You are responsible for adhering to all applicable Nigerian laws and regulations in promoting and conducting business as an affiliate.
• You agree not to misrepresent the products or services of Ovadraft or Smart Cover Africa Ltd. in any manner.
• You agree to provide accurate information about users and vendors when promoting Ovadraft services.
• Partners/Affiliates are not allowed to collect any form of payment on behalf of Smart Cover Africa or Ovadraft.
• All registrations must be passed through the Ovadraft platform (www.ovadraft.com.ng/www.ovadraft.com) or any other authorized websites.

Termination Ovadraft and Smart Cover Africa Ltd. reserve the right to terminate this agreement and your affiliate status at any time, with or without cause, including but not limited to fraudulent activity, misrepresentation, or violation of these Terms.

Dispute Resolution In the event of a dispute arising from this agreement, both parties agree to first attempt to resolve the matter amicably. If the dispute cannot be resolved, it shall be referred to arbitration in accordance with the Arbitration and Conciliation Act (Cap A18 LFN 2004) of Nigeria.

Governing Law These Terms shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.

Modifications The Companies reserve the right to amend these Terms at any time, with or without notice. Any changes will be effective upon posting on the Companies' official websites.

By registering and continuing as an Ovadraft affiliate, you acknowledge that you have read, understood, and agree to these Terms and Conditions.

For inquiries or further clarifications, please contact:

• Email: partners@myovadraft.com.ng
• Phone: +2349134444677