Avertissement sur les risques

Draft for legal review — last updated [date].

Please read this before you commit money to a trade.

Trades are not deposits

ComboTrader trades are commercial transactions in physical agricultural commodities. They are not bank deposits, are not insured by the Nigeria Deposit Insurance Corporation, and are not guaranteed by any bank or government body. Your payout is a commitment by Kitovu, backed by Kitovu's own balance sheet.

The main risks

• Buyer risk (borne by Kitovu). A buyer may pay late, pay less, or fail to pay. Kitovu still pays you on your payout date from its own balance sheet and recovers from the buyer itself, so this risk falls on Kitovu, not on you.
• Supply, storage and price risk (borne by Kitovu). Weather, pests, poor quality, losses in storage or transit, or falling market prices can reduce what a trade earns. These are Kitovu's operating risks and do not change the amount you are owed.
• Operator risk (the main risk to you). Because Kitovu pays you from its own balance sheet, your payout depends on Kitovu continuing to operate and remaining able to pay. If Kitovu itself became unable to pay, you could receive less than you are owed, or receive it late.
• Timing risk. Buyer delays do not delay your payout. In exceptional cases outside Kitovu's control (such as a payment-system outage or a court order) a payout may be credited late; see section 7 of the Terms.
• Liquidity risk. Your money is locked for the full period. Early exit is not available.
• Currency risk. Wallets are held in naira. If you live outside Nigeria, the value in your currency may change.
• Regulatory risk. Changes in law or regulation may affect how trades can be offered.

What we do to reduce risk

Every Trade Lot is tied to a buyer order on file; we buy from farmers Kitovu works with directly and check quality; we post Harvest Trail updates at each stage; we keep money records in a double-entry ledger that is reconciled daily.

These steps, together with Kitovu paying you from its own balance sheet, reduce the risk to you but cannot remove it. If Kitovu itself were unable to pay, you could receive less than you put in.

Before you commit

• Only commit money you can leave in a trade for its whole period.
• Spread your money across lots and periods rather than putting it all in one.
• Past payouts do not guarantee future results.
• If you are unsure, take independent financial advice.