D-Arobe Dynamic Limited (hereinafter referred to as The Company) is a company duly
registered under the Companies and Allied Matters Act, Laws of the Federal Republic of
Nigeria.
The Company in its bid to lessen the burden associated with the payment of school fees
and procurement of other educational materials for parents and students thus creates a
Contributory Support Scheme whereby the Company finances between 25% – 50% for its
Subscribers.
The Subscriber(s) whose name and details are supplied in the Subscriber’s Form is
desirous of subscribing to the said Scheme of ‘The Company’ and has agreed to the
Terms and Conditions governing the operation of the said Scheme stated below:
1. The Subscriber agrees to pay the subscription fee as may be determined by The
Company from time to time.
2. The Subscriber agrees to pay on a regular basis (weekly, monthly or quarterly)
his/her premium. The premium is to be made through the authorised payment
channels/account of the company.
3. 5% default fee from 7 days of default and every 7 days of default until payment is
made.
4. The premium entitles the beneficiary/beneficiaries to full payment of school fees per
term (in the case of students of Nursery/Primary/Secondary Schools) or semester (in
the case of students in higher institutions of learning).
5. The beneficiary/beneficiaries shall also be entitled to textbooks, Laptop, iPad and
other educational tools and materials depending on the premium paid.
6. Before a subscriber can claim payment on behalf of the beneficiaries from the
Company, the subscriber must have made a 90 days active subscription or must
have made not less than three (3) consecutive payments.
7. The Subscriber authorises the Company to pay the beneficiary’s institution directly
or to pay the Subscriber(s) directly upon a written request made to the Company for
direct Subscriber’s payment.
8. The deadline for payment of the subscription plan is the 26th day of every month for monthly Subscribers and Fridays for weekly Subscribers.
9. The Subscriber agrees to give The Company 90 days’ notice in writing where he
desires to terminate the subscription plan with the company.
10. Termination before the end of the subscription plan will attract an administrative fee
of 15% of the contributions of the Subscriber.
11. The Subscriber agrees to be held liable for any fraud or misrepresentation. The
Subscriber agrees to indemnify The Company for any loss it may suffer as a result
of the said fraud or misrepresentation.
12. The Subscriber hereby authorises The Company to withhold payment or settlement
of claims to the beneficiary/beneficiaries as a result of the fraud or
misrepresentation.
13. Active subscription plans for tertiary institutions will be subject to renewal every 18
months. Subscription plan for secondary/elementary institutions will be subject to
renewal every 24 months.
14. Any change of the institution, increase in tuition fee or the price of educational
materials will warrant a review on the planned subscription. Any such change shall
require fresh premium on terms to be agreed by the Company and the Subscribers.
15. The Subscriber agrees that the Contributory Support Scheme of the Company is not
a Ponzi scheme where contributions or subscriber’s premium is doubled, neither is it
a pyramid or multilevel marketing scheme.
16. The Company is not and do not represents itself to be a financial institution which
takes investment and pays returns on such investment as interest.
17. This terms and conditions are subject to change as may be determined from time to
time by the Company as the need arises.
18. Any dispute between the Parties concerning these Terms and Conditions, or any
supplementary agreement thereto shall be settled amicably through mutual
discussion between the Parties. Any dispute that cannot be resolved by mutual
discussions shall be referred to mediation by the legal representatives of both Parties.
Failing mediation, the dispute shall be finally resolved by arbitration in accordance
with the provisions of the Arbitration and Conciliation Act. CAP A18 Laws of the
Federation of Nigeria.
19. The Subscriber hereby authorise the Company to effect Direct Debit of Subscription
fee from his/her Bank Account.
I confirm that I have read, understood, and agreed to the above terms and conditions.