Terms of Service

1.About these terms

These Terms of Service (“Terms”) govern your access to and use of the CimpleFi platform operated by CimpleFi (“we”, “us”). By creating a member session or leasing capacity, you agree to these Terms. If you do not agree, do not use the Service.

2.What the Service is

CimpleFi lets members lease metered solar and battery storage capacity (kilowatts) on operating energy plants, accrue energy credits (kilowatt-hours) from actual generation as measured by plant telemetry, and sell accrued credits at a fixed contracted tariff. Plants are owned in special-purpose vehicles and operated by our operating partner Seftekra. The Service is currently in a live pilot stage; features may change as it develops.

3.Eligibility

You must be at least 18 years old and legally able to form binding contracts. You may not use the Service if you are in a jurisdiction subject to comprehensive sanctions, or if you are barred from using it by applicable law. Availability of specific lease offerings may vary and is always shown on the platform.

4.How leasing works

• Capacity fee. You pay a one-time, non-refundable fee denominated in USDC for the kilowatts of capacity you lease for the stated term. The fee is sunk once capacity is allocated; it is not a deposit, loan, or repayment obligation.
• Metered accrual.Energy credits accrue from the fleet’s actual metered generation, allocated by your share of lease capacity. Plant telemetry is the authoritative measurement; credits accrue only for completed metered days.
• Fixed tariff. Selling credits settles at the tariff contracted for your lease, in USDC, net of itemized fees shown on your settlement receipt. The tariff for a lease does not change during its term.
• Holding. Holding credits means choosing not to sell yet; it creates no additional rights or obligations.

5.Not an investment product

The Service offers capacity leases on energy infrastructure, not securities, and nothing on the platform is an offering, investment advice, or a recommendation. Past or projected generation does not guarantee future generation. You should participate only with amounts whose loss you can accept, and you should consult your own advisers where appropriate.

6.Fees and payments

All amounts are denominated in USDC. During the pilot, settlements are recorded on CimpleFi’s ledger pending on-chain settlement features; supported networks are shown at the time of each on-chain transaction. You are responsible for your own wallet, custody, and the correctness of transactions you initiate. Tariffs and lease pricing for each offering are set at listing and shown before you commit. Settlement itemizes any fees on the receipt.

7.Risks you accept

• Generation risk. Output varies with weather, season, equipment condition, and outages. Credits depend on real generation; some plants may produce little or nothing at times. Allocation is fleet-level, so a single plant failure reduces, but does not zero, accrual.
• Operator and structure risk. Plants depend on the operator running, maintaining, insuring, and repairing them. SPV isolation and operator-carried insurance mitigate but do not eliminate these risks.
• Technology risk.Telemetry, software, or blockchain integrations may fail or be modified. Settlement is recorded on CimpleFi’s ledger pending on-chain settlement features.
• Regulatory risk. Laws affecting digital assets and energy participation may change.
• USDC risk. Settlement in a stablecoin carries the risks of that instrument and its issuer.

8.Limitation of liability

To the maximum extent permitted by law, we are not liable for indirect, incidental, or consequential damages, or for loss of profits or data. Our aggregate liability arising from your use of the Service is limited to the capacity fees you paid in the 12 months preceding the claim. Nothing limits liability that cannot be limited by law.

9.Suspension and termination

We may suspend or terminate access for breach of these Terms, fraud, or legal requirements. Existing leases survive account suspension and continue to accrue and settle per their terms. You may stop using the Service at any time; accrued rights under active leases are unaffected.

10.Changes to the Service and these Terms

We may update the Service and these Terms as the pilot develops. Terms of an active lease (capacity, term, tariff) are not changed retroactively. Continued use after updated Terms are posted constitutes acceptance; material changes will be announced on the platform.

11.Governing law and disputes

These Terms are governed by the laws of the Federal Republic of Nigeria, excluding conflict-of-law rules. Disputes will be resolved by the courts of Nigeria, in English. Nothing here deprives consumers of mandatory protections of their country of residence.

12.Contact

Questions about these Terms: [email protected] · cimplefi.com.