Terms and conditions
Last updated: December 12th 2022
Price Lock Feature
Effective Date: November 1, 2023
Expiration Date: January 31, 2025
Definitions
- Price Lock Feature: A service that allows users to reserve the price of selected items at a fixed rate for a specified period by making an initial deposit of 30%.
- Deposit: An upfront payment made by users, equivalent to 30% of the total value of their selected items.
- Price Lock Period: The duration during which users can lock in their prices, starting from November 1, 2023, and ending on January 31, 2024.
- Foodcredit: A non-cash virtual credit issued by the Platform, which users can apply toward future purchases but cannot withdraw as cash.
- Surcharge: A 10% deduction from the 30% deposit applied as a fee for early cancellation of the Price Lock.
Scope of the Price Lock Feature
- Eligible Items: The Price Lock applies only to specific food and holiday-related items available on the Platform during the stated period.
- Duration: The Price Lock can be applied between November 1, 2023, and January 31, 2024.
- No Price Adjustments: Once a user activates the Price Lock, the prices of selected items are fixed, and the user is protected against any subsequent price increases. However, users will not benefit from any price decreases during this period.
Eligibility and Account Requirements
- Eligibility Criteria:
- Be at least 18 years old.
- Have a valid account on the Platform.
- Provide a valid payment method (credit card or debit card).
- Account Creation:
- If you do not have an account on the Platform, you are required to create one to access the Price Lock Feature. The creation of an account is free of charge.
- Users are responsible for maintaining the confidentiality of their account information, including their password and login credentials.
- Existing Users:
Payment Terms
- Deposit Amount:
- Payment Method:
- Final Payment:
- Failed Payments:
Shopping List Management and Item Restrictions
- Item Selection:
- Item Removal Restrictions:
- Item Additions:
- Out of Stock Items:
Price Lock Activation Process
- Step-by-Step Process:
- Dashboard Access:
Expiration of the Price Lock
- Users must complete their purchases by paying the remaining balance.
- Any outstanding balance not paid by the expiration date will result in the automatic conversion of the 30% deposit into Foodcredit.
Cancellations, Refunds, and Conversion to Foodcredit
- Cancellation by User:
- If a user wishes to cancel their Price Lock before the expiration date, they may do so by submitting a cancellation request through the Platform.
- Refunds:
- Users will have an option to be refunded their initial 30% deposit into their bank account or convert it into Foodcredit.
- A 10% surcharge will be applied to the 30% deposit if a user chooses a bank account refund but no charge on converting to Foodcredit which will be used on the Platform.
- This policy is non-negotiable, and users are encouraged to review their shopping list carefully before activating the Price Lock.
- Failure to Complete Purchase:
- If a user does not complete the full payment for the locked items by January 31, 2024, the initial deposit will be automatically converted to Foodcredit.
- Once converted to Foodcredit, the funds are non-refundable and can only be used for future purchases on the Platform.
Foodcredit Terms
- Definition of Foodcredit:
- Expiration of Foodcredit:
Notifications and Reminders
- Email and SMS Alerts:
- Price Lock Confirmation: Immediately after the 30% deposit is paid.
- Payment Reminders: 72 hours and 24 hours before the final payment is due.
- Expiration Notice: A final reminder will be sent 7 days before the Price Lock expires on January 31, 2024.
- Failure to Receive Notifications:
Inventory and Stock Management
- Stock Availability:
- Substitution of Out-of-Stock Items:
Compliance with Local Laws
Limitation of Liability
- Loss of Funds: Any loss arising from failed or incomplete payments due to user negligence.
- Service Interruptions: Interruptions in service due to maintenance, outages, or force majeure events that affect the availability of the Price Lock Feature.
- Price Fluctuations: Users will not be entitled to refunds or discounts if the prices of locked items decrease after the Price Lock is applied.
Changes to the Terms and Conditions
Contact Information
- Customer Support Email: info@foodbridgeng.com
- Phone Number: +2348123079334
- Live Chat: Available on our website 24/7
For the purposes of this Agreement, the following terms have the meanings set forth below:
The Price Lock Feature is designed to provide users with the ability to secure the current price of selected food and holiday-related items for an extended period of time, irrespective of any future price increases or market fluctuations. It is intended for users who wish to make holiday purchases in advance, particularly during the festive season, while protecting against price inflation.
The Price Lock Feature is available to all registered users of the Platform. In order to utilize this Feature, you must:
Existing users can access the Price Lock Feature directly from their dashboard by selecting the items they wish to lock and following the process described in Section 6.
To secure the Price Lock, users are required to make an initial 30% deposit of the total cost of the items in their shopping list. This deposit is non-refundable except as explicitly outlined in Section 10 of these Terms and Conditions.
Users must add a valid credit card or debit card to their account, which will be used for both the initial deposit and the subsequent payment. The Platform does not accept any other payment methods for the Price Lock Feature.
The remaining balance (70% of the total cost) will be automatically debited from the user's card 24 hours before the specified payment date or January 31, 2024, whichever comes first. Users are responsible for ensuring sufficient funds are available in their accounts.
If the automated payment fails (due to insufficient funds, card expiration, or other reasons), the user will receive an immediate notification via email and SMS. The user must update their payment information within 24 hours to avoid the cancellation of the Price Lock. If no valid payment method is provided, the deposit will be converted into Foodcredit as described in Section 8.
Users can create a shopping list of eligible items for which they wish to secure prices. The list can only include items available on the Platform.
After activating the Price Lock by paying the 30% deposit, users cannot remove items from their locked list. This is to ensure that the price of reserved items remains stable and unaffected by changes in inventory or pricing conditions.
Users may add additional items to their shopping list during the Price Lock Period. However, these newly added items will not benefit from the Price Lock and will be priced at their current rates.
If an item becomes unavailable after being locked, users will be notified, and they may choose an alternative item of equivalent value. The Platform will make reasonable efforts to maintain inventory but cannot guarantee availability of all items.
a. Shopping List Creation: Users will select items they wish to lock.
b. Price Lock Selection: Once items are selected, users will see the "Price Lock" option.
c. Deposit Payment: Users will be prompted to make a 30% deposit of the total cost.
d. Confirmation: Upon successful payment, users will receive a confirmation that their selected items are price locked until January 31, 2024.
After activation, users can view their locked shopping list via the dashboard. Users can track their final payment deadline and monitor the status of their orders.
The Price Lock will expire on January 31, 2024. At the expiration of the Price Lock Period:
Foodcredit is a virtual currency that can only be used within the Platform for future purchases. Foodcredit is non-transferable and has no cash value.
Foodcredit issued as a result of Price Lock cancellations or incomplete purchases will expire 12 months from the date of issuance.
The Platform will send automated notifications via email and SMS to remind users of upcoming deadlines:
The Platform is not liable for any failure to receive notifications due to inaccurate or outdated contact information provided by the user.
The availability of certain items on the Platform is subject to change. While we strive to keep stock levels updated, it is possible that items may go out of stock after being price locked.
In the event that an item becomes unavailable after being price locked, users will be notified, and an equivalent substitute will be offered where available. If no substitute is available, the corresponding portion of the deposit will be converted into Foodcredit.
The Price Lock Feature is designed to comply with all applicable consumer protection laws in the regions in which the Platform operates. Any disputes arising from these Terms and Conditions will be governed by the local laws of the jurisdiction in which the user resides.
To the maximum extent permitted by law, the Platform shall not be liable for:
The Platform reserves the right to modify these Terms and Conditions at any time. Users will be notified of any significant changes at least 14 days in advance. Continued use of the Price Lock Feature after the effective date of any changes constitutes acceptance of the updated Terms.
For questions, support, or to submit cancellation requests, please contact us:
By using the Price Lock Feature, you acknowledge that you have read, understood, and agree to these Terms and Conditions.
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