Stokvel Agreement Template

AGE RESTRICTIONS AND SAFETY: You hereafter confirm and guarantee that you are currently eighteen (18) years of age or older (twenty-one years (21) in places where eighteen (18) years are not adults) and that you are able to legally fulfill and fulfill all obligations under this Agreement. CANCELLATION POLICY: You may terminate your services at any time, subject to the terms of this Agreement. To cancel, you must follow the instructions of UBUNYE STOKVEL services. There is no cancellation fee. Instructions for cancelling services can be emailed to info@ubunyestokvel.co.za participants discussed the use of Stokvels to build and improve homes in Khayelitsha and the Eastern Cape; Financing the purchase of cars and appliances; Caring for children and to fund cultural processes (for example. B the initiation of a child, wedding payments and the usual funerals). If many Stokellen operate outside the law, how do they remain functional? Benefits are all proceeds from the disbursement of assets acquired by the People`s Funds and contributions made by the member during the period. Excluding expenses, debts or losses incurred by Stokvel in relation to the contribution. Benefits are only paid after 5 years since the beginning of the group. You are solely responsible for your engagement with other users/members. They accept that UBUNYE STOKVEL is not responsible for the loss or damage caused by these interactions. UBUNYE STOKVEL reserves the right, but is not required to monitor disagreements between you and other users/members. UBUNYE STOKVEL has no control over the content of user accounts and profiles.

UBUNYE STOKVEL has the right, but has no obligation to monitor this content for any purpose. You acknowledge that you are solely responsible for all content and materials you share on UBUNYE STOKVEL services. Similar informal financial associations exist in many different cultures around the world. However, it is not known whether this practice was born spontaneously in any country or by borrowing.

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