Terms of Service

Last updated: 23 October 2026 · Effective: 23 October 2026

These Terms of Service ("Terms") govern your use of the FarmX platform — the FarmX website, applications and services (together, the "Platform"). The Platform is operated by FarmX ("FarmX", "we", "us", "our"). By creating an account, accessing or using the Platform, you ("you", "your", the "User") agree to these Terms. If you do not agree, do not use the Platform.

These Terms should be read together with our Risk Disclosure, Privacy Policy, Data Protection Policy, AML & Fraud Policy, Withdrawal Policy, Refund & Withdrawal Policy, User Agreement, Community Guidelines & Code of Conduct and Cookies Policy, each of which forms part of your agreement with us.

1. Definitions

• Farm Project — an agricultural project listed on the Platform, run by a third-party operating company, and divided into Shares.
• Operating Company — the company responsible for running a Farm Project on the ground.
• Share — a unit of a Farm Project offered at a set price. Buying Shares gives you an economic interest in that project for its term; it does not make you a shareholder, partner or director of FarmX or of the Operating Company unless a project expressly says so.
• Cycle — the return period set for a Farm Project (for example a number of hours or days).
• Return — the change in value applied to your holding at the end of a Cycle, within the range stated for that project. A Return can be positive or negative.
• Wallet — the single running balance in your FarmX account through which deposits, Returns, transfers and withdrawals move.
• Transaction PIN — the 4-digit code, separate from your password, required to authorise withdrawals, transfers and purchases.
• Referral Programme — the programme described in section 11 and in the User Agreement.
• Qualifying Referral — a person who registered using your referral link (a direct referral) and has made at least one investment in a Farm Project.
• Return Cap — the maximum total return a holding can earn over its life, expressed as a percentage of the amount invested in it (section 7A).
• Reinvest Balance — a separate balance credited at maturity that can only be used to buy Shares in Farm Projects (section 7B).

2. Eligibility and your account

• You must be at least 18 years old and have full legal capacity to enter into a binding contract.
• Registration is by invitation only. You must sign up using a valid referral from an existing User; that User becomes your referrer and you are placed in their referral network.
• You may hold only one account, in your own legal name, using information that is true, current and complete. Accounts opened for or in the name of another person, or using false or borrowed details, are prohibited.
• You are responsible for everything done under your account. Keep your password and Transaction PIN secret and do not let anyone else use your account. Tell us immediately if you suspect unauthorised access.
• We may refuse to open an account, or limit or close an account, at our discretion, including where we cannot verify your identity or where opening the account would breach law or our policies.

3. Identity verification

You agree to provide the identity, contact and, where requested, source-of-funds information we ask for, and to keep it up to date. We may verify this information ourselves or through third-party providers, and may restrict deposits, investing, transfers or withdrawals until verification is complete. See our AML & Fraud Policy.

4. The FarmX Wallet

• Your Wallet is a record of amounts held by FarmX for you on the Platform. It is not a bank account. FarmX is not a bank or a deposit-taking institution, your Wallet balance is not a deposit, and it is not covered by the Nigeria Deposit Insurance Corporation or any deposit-insurance or investor-compensation scheme.
• We do not pay interest on Wallet balances. Any growth in your account comes only from Returns on investments you choose to make, which are variable and not guaranteed.
• Amounts are held in Nigerian Naira unless stated otherwise.

5. Deposits

You can add money to your Wallet using the payment methods offered on the Platform (currently card or bank transfer through our payment partner, and manual bank transfer). Deposits are credited once we or our payment partner confirm receipt of cleared funds. Minimum amounts may apply. We may reject or reverse a deposit, or ask for more information, where we suspect fraud, error, or a breach of law or our policies. You may only fund your account from a payment instrument or bank account in your own name.

6. How investing works

• Each Farm Project is offered by an Operating Company and divided into Shares at a set price per Share, with a total number of Shares and a project term.
• You invest by entering an amount. The minimum investment is ₦30,000 per purchase (or the remaining value of the project, if lower). You receive Shares equal to the amount divided by the price per Share, which can include a fraction of a Share, and you are charged exactly the amount you entered. Purchases require your Transaction PIN.
• The amount is taken from your Wallet (and/or your Reinvest Balance, where you choose to use it) and your holding is live from the next Cycle.
• At the end of each Cycle, your holding is revalued and the change is applied to the value of your holding, not to your Wallet. The change may be a gain, zero, or a loss. Gains are realised when you move profit to your Wallet (where the Platform allows it) or when the holding matures.
• A Return range is a range of possible outcomes. It is not a promise of the average, the mid-point or the top of the range, and it is not a fixed or guaranteed rate.
• Returns are applied periodically by an automated process operated by FarmX and/or the Operating Company. Unless a specific project says otherwise, a Return is a revaluation of your holding and is not a distribution of audited profits.
• When a project is fully funded it stops accepting new investment. Existing holdings continue through each Cycle until you exit by the means the project allows or the project reaches the end of its term.

7. Returns are not guaranteed

You could lose some or all of the money you invest. Returns are variable and can be zero or negative in any Cycle and over the full term. A project may underperform, be delayed, be suspended, fail, or be terminated. Past performance and any figures shown in illustrations or the returns estimator are hypothetical and are not a reliable indicator of future results. Please read the Risk Disclosure in full before you invest.

7A. Return Cap

• The total return a holding can earn over its whole life is capped at 40% of the amount invested in it.
• If at least 5 Qualifying Referrals (people you referred directly who have each invested) are linked to your account, the cap on your holdings is 60% instead. Your cap is checked at every Cycle, so it rises to 60% on all your active holdings as soon as you reach 5 Qualifying Referrals.
• Profit you have already moved to your Wallet counts towards the cap, so withdrawing profit does not reset it.
• When a holding reaches its cap, the final Cycle is reduced to the exact amount that reaches the cap and the holding stops earning but stays invested until the end of its 3-month term, when it matures and is paid out as described in section 7B.
• To keep earning after reaching the cap, you can top up the holding with 30% of the amount invested in it. The whole holding then earns again, with a fresh cap on the new total. Top-ups require your Transaction PIN and are paid from your Reinvest Balance and/or Wallet.
• From 21 October 2026 this cap applies to all holdings, including those bought earlier. Gains already applied to a holding before that date are not reversed; a holding already above its new cap stops earning and stays invested until the end of its 3-month term.
• The cap is a maximum, not a target or a promise. Most holdings may earn less than the cap, nothing, or a loss.

7B. Maturity and the Reinvest Balance

• Every holding has a term of 3 months from the date it was bought and matures only at the end of that term. Reaching the Return Cap does not end it early.
• Any holding paid out before the end of its 3-month term in error (including early maturities before 23 October 2026) is reversed: the holding is reopened until its 3-month maturity date, and the amounts credited for it are reclaimed from your Wallet and Reinvest Balance. Any amount that cannot be reclaimed at once is recorded as owed, is settled automatically from your future credits, and withdrawals and transfers are paused until it is cleared.
• At maturity, all profit is paid to your Wallet. Of your capital (the amount you invested), 35% is paid to your Wallet, less a 5% service fee on that 35%, and the remaining 65% is credited to your Reinvest Balance.
• The Reinvest Balance can only be used to buy Shares in Farm Projects. It cannot be withdrawn to a bank account or transferred to another User. If it is below the minimum investment, you can top it up from your Wallet to make a purchase.
• Holdings bought with your Reinvest Balance follow the same rules when they mature.

8. Fees and charges

FarmX may charge fees — for example on withdrawals, or on moving investment profit to your Wallet balance. The current withdrawal fee is 10% of the amount withdrawn, made up of a 3% service fee and 7.5% VAT, of which FarmerXchange covers 0.5%. The VAT collected is remitted to the Federal Inland Revenue Service (FIRS). The maturity service fee is described in section 7B. Any fee that applies to a transaction is shown to you before you confirm it. Fees are set by FarmX and may change; changes take effect from the date they are published. Third-party charges (such as your bank's charges) are your responsibility. Fees already applied for a service that has been provided are generally non-refundable.

9. Withdrawals

You can withdraw cleared, uninvested funds from your Wallet to a Nigerian bank account in your own name. When you enter your bank details, we check the account name through our payment partner: your first and last name on FarmerXchange must both appear in the bank account name, or the withdrawal cannot proceed. Once your identity (KYC) is verified, your name on FarmerXchange is locked and can only be corrected by contacting support. An administrator approves every payout. Invested capital is not available on demand. Full details, limits and timing are in the Withdrawal Policy and the Refund & Withdrawal Policy.

10. Transfers

Where the Platform allows it, you can transfer Wallet funds to another User by wallet number. Transfers require your Transaction PIN, may be subject to limits and fees, and are generally irreversible once completed. Check the recipient's details carefully; we are not responsible for transfers you send to the wrong account.

11. Referral Programme

• The Referral Programme lets Users earn commissions when people they invite, and people further down their referral network, invest in Farm Projects. These are described on the Platform as Farmers Commission, Upline Bonus and Trade Volume, and count towards Harvest Circle rewards.
• Commissions are a marketing incentive funded by FarmX. They are paid from FarmX's own resources, not from other Users' capital, and are conditional on genuine investment activity by real, verified accounts.
• Commission rates, tiers, qualification rules and the programme itself are discretionary and may be changed, suspended or withdrawn at any time. We will publish material changes.
• Commissions are reversible if the underlying transaction is reversed, refunded or found to be fraudulent, or if the earning account breaches these Terms, the AML & Fraud Policy or the Community Guidelines.
• The Referral Programme is not an income opportunity or a guarantee of earnings. Most participants earn little or nothing. You must not present FarmX or the Referral Programme as a "get rich" scheme, a guaranteed income, or risk-free. See the User Agreement and Community Guidelines & Code of Conduct for how you may and may not promote FarmX.

11A. Community Leader Programme

• Selected Users may run a FarmerXchange community (for example a WhatsApp group) as Community Leaders. Leaders are chosen by FarmerXchange at its discretion.
• Community Leaders are independent partners, not employees, staff or agents of FarmerXchange. Nothing in the programme creates an employment relationship.
• Leaders may receive monthly data support and a monthly reward based on the verified size and activity of their community. Rewards are conditional on monthly targets and on FarmerXchange verifying the numbers, are not a salary, and may be paused or ended under the programme rules.
• Leaders must say that they are rewarded for growing the community, must never promise fixed or guaranteed returns, and must never collect money from members.

12. Your responsibilities and acceptable use

You agree to use the Platform lawfully and in good faith, and to follow the User Agreement, the Community Guidelines & Code of Conduct and the AML & Fraud Policy. In particular you must not use the Platform for fraud or money laundering; create multiple or synthetic accounts; use automated means to access or scrape the Platform; interfere with its operation or security; exploit bugs; or misrepresent FarmX to others.

13. Suspension and termination

• We may suspend, restrict or close your account, withhold or reverse transactions, and disable your referral link, where we reasonably suspect fraud, money laundering, a breach of these Terms or our policies, a legal or regulatory requirement, or a risk to the Platform or other Users.
• You may close your account once your holdings are settled and your Wallet balance has been withdrawn, by contacting us.
• On termination, your right to use the Platform ends. Provisions that by their nature should survive — including those on fees already due, liability, indemnity, AML, governing law and dispute resolution — continue to apply. We may retain information as required by law (see the Data Protection Policy).

14. Intellectual property

The Platform, its content, software, design, and the FarmX name and logo are owned by FarmX or its licensors and are protected by law. You are granted a limited, non-exclusive, non-transferable, revocable licence to use the Platform for your own personal, non-commercial use in accordance with these Terms. You may not copy, modify, distribute, sell, or create derivative works from any part of the Platform, or use the FarmX name or branding, except as we expressly permit.

15. Third-party services

The Platform relies on third parties, including payment processors, cloud hosting and database providers, identity-verification providers and a live-chat provider. We are not responsible for the acts, omissions, availability or content of third parties, and your use of a third-party service may be subject to that provider's own terms.

16. Disclaimers

The Platform is provided "as is" and "as available". To the fullest extent permitted by law, we disclaim all warranties, express or implied, including as to merchantability, fitness for a particular purpose, non-infringement, and uninterrupted or error-free operation. FarmX does not provide investment, financial, legal, accounting or tax advice, and nothing on the Platform is a personal recommendation or an offer or solicitation where that would be unlawful. You are responsible for your own investment decisions.

17. Limitation of liability

To the fullest extent permitted by law, FarmX and its officers, employees and agents will not be liable for any indirect, incidental, special, consequential or punitive loss, or for loss of profit, revenue, data, goodwill or anticipated savings, or for investment losses, Returns that are lower than expected or negative, delays in deposits, Returns or withdrawals caused by third parties, or the acts or insolvency of an Operating Company or a service provider. Our total aggregate liability to you for all claims arising out of or relating to the Platform is limited to the greater of (a) the total fees you paid to FarmX in the 12 months before the event giving rise to the claim, or (b) the equivalent of NGN 50,000. Nothing in these Terms excludes or limits liability that cannot lawfully be excluded or limited, including for fraud or fraudulent misrepresentation.

18. Indemnity

You agree to indemnify and hold FarmX harmless from any claim, loss, liability, cost or expense (including reasonable legal fees) arising out of your breach of these Terms or any policy, your misuse of the Platform, your promotion of FarmX in breach of our rules, or your violation of any law or the rights of a third party.

19. Changes to these Terms

We may update these Terms and our policies. We will publish the updated version on the Platform and, for material changes, give notice by a reasonable means (for example an on-screen notice or email). When we make material changes, you will be asked to read and accept the updated Terms before you continue using your account. Changes take effect on the date stated. If you continue to use the Platform after that date, you accept the updated Terms. If you do not accept a change, you should stop using the Platform and withdraw your uninvested balance.

20. Governing law and disputes

These Terms are governed by the laws of the Federal Republic of Nigeria. If a dispute arises, you agree to first contact us and try in good faith to resolve it. If it is not resolved within 30 days, the dispute will be submitted to the courts of competent jurisdiction in Nigeria, unless the parties agree in writing to mediation or arbitration. Nothing prevents either party from seeking urgent injunctive relief.

21. General

• These Terms and the policies referred to in them are the entire agreement between you and FarmX about the Platform.
• If any provision is found unenforceable, the rest continues in effect.
• We may assign or transfer our rights and obligations, including as part of a merger, acquisition or sale of assets; you may not assign yours without our consent.
• A failure to enforce a provision is not a waiver of it.
• We may give you notices through the Platform, by email, or by any contact details you have provided.

22. Contact

Questions about these Terms can be sent through the Contact page or, if you have an account, by opening a support ticket.