Cancellation & Refund Policy

1. Scope & Legally Binding Agreement

This Cancellation and Refund Policy ("Policy") governs all monetary transactions and user engagements on the Newcondo platform ("Newcondo"), including but not limited to rental payments, commission disbursements, third-party service payments, subscription fees, listing fees, and transaction processing costs.

By using the Newcondo platform, users (Renters, Property Owners, Agents, and Third-Party Service Providers) expressly agree to the terms of this Policy, including:

• Mandatory binding arbitration for all disputes arising from cancellations and refunds, in lieu of class action litigation
• Waiver of statutory rights where permissible under Nigerian law
• Adherence to platform-specific cancellation deadlines and refund conditions

This Policy is legally binding and enforceable under the Nigerian Arbitration and Conciliation Act and the Nigeria Data Protection Act (NDPA).

2. Non-Refundable Fees

The following fees are non-refundable under any circumstances unless required by law:

• Subscription Fees (applicable to Owners/Agents): Covers advanced tools such as rent tracking, property promotion, listing highlights, and analytics
• Platform Service Fees (all users): Charged per transaction for platform maintenance and security
• Transaction Charges (all users): Reflect payment gateway processing costs
• Inspection Fees (Renters): Paid directly to Owners/Agents and non-refundable post-payment

All fees are considered final except in cases of proven VAT calculation errors or other mandatory legal adjustments.

3. Refundable Transactions & Deadlines

Renters

Owners/Agents

• Payout Hold: Platform holds rent/commission payouts for 72h after renter payment to allow dispute window
• If renter cancels within 48h:
  • → Owner/Agent forfeits payout
  • → Platform retains service and transaction fees

4. Cancellation Protocols

Renters

• Inspection No-Shows: Non-refundable; rescheduling subject to Owner/Agent discretion
• Account Deletion: Active refund rights are forfeited unless requested pre-deletion

Owners/Agents

• Cancelling a Renter Post-Payment:
  • → Full refund (rent + commission) within 24h of payout receipt
  • → Platform penalties apply: ₦100,000 fine, permanent account ban, and property delisting
• Subscription Cancellation: Non-prorated; terminates at billing cycle end

5. Refund Request Workflow

Requests must be submitted via the user dashboard within 48h (72h for force majeure).

Required documentation includes:

• Payment receipts
• Official proof of force majeure (e.g., NEMA orders, lockdown directives)

Resolution Timelines

6. Force Majeure Exceptions

Refunds outside the standard window may be granted only for:

• Natural disasters (e.g., floods, earthquakes)
• Government actions (e.g., lockdowns, evacuations). Proof must be provided from credible sources (e.g., NEMA, State Govt)

Non-Qualifying: Transport strikes, poor weather forecasts, etc.

7. Fraudulent Disputes & Penalties

8. Dispute Resolution & Arbitration

All disputes arising from this Policy shall be resolved through binding arbitration in accordance with the Nigerian Arbitration and Conciliation Act.

• Venue: Owerri, Imo State, Nigeria
• Process: Confidential individual arbitration
• Class Action Waiver: Users permanently waive rights to class or representative actions

9. Policy Updates & Amendments

NEWCONDO reserves the right to modify this Policy at any time. Changes will be communicated via:

• Platform notifications
• Email notifications to registered users
• Updated policy posting with revised effective date

Continued use of the platform after policy updates constitutes acceptance of the revised terms.

10. Contact Information

11. Copyright & Legal Protection