Terms of service

The agreement between you and FIBI when you use this platform.

Last updated

This document is not yet in force. FIBI’s terms of service is being prepared with legal counsel. The headings below show what it will cover. Nothing on this page creates rights or obligations, and it should not be relied on. For the risks of investing — which are set out in full and are current — read the risk disclosure.

1. Who these terms apply to

Covers acceptance, the parties, and the relationship between these terms and the offer documents for an individual project.

2. Eligibility and account registration

Covers minimum age, identity verification and anti-money-laundering obligations, the accuracy of information you provide, and the constitutional restrictions on non-citizens holding interests in Kenyan land.

3. Your account and security

Covers credential security, responsibility for activity on the account, and notification obligations on suspected compromise.

4. How projects are offered

Covers the status of information on project pages, the precedence of a project’s own offer documents over marketing material, and the platform’s role as administrator rather than adviser.

5. Commitments, payment and cancellation

Covers when a commitment becomes binding, accepted payment methods, any cooling-off period, and what happens to committed funds if a project does not reach its funding target.

6. Fees

Covers every fee charged, its basis of calculation, and how changes are notified. Must reconcile exactly with the fees stated on the FAQ and on project pages.

7. Distributions

Covers how and when returns are paid, deductions and withholding, and what happens where a project underperforms or fails.

8. Membership

Covers tier entitlements, billing and renewal, cancellation, and the separation between membership fees and investment commitments.

9. Risk acknowledgement

Covers the user’s acknowledgement of the matters set out in the risk disclosure, which is published in full and should be read before committing funds.

10. Liability

Covers the limits of the platform’s liability and the losses excluded, subject to the liabilities that cannot lawfully be excluded under Kenyan law.

11. Suspension and termination

Covers grounds for suspending or closing an account and the effect of closure on investments already made.

12. Governing law and disputes

Covers governing law, the complaints procedure, and the forum for resolving disputes.