AFRIKARS Terms of Service — effective 11 September 2026
AFRIKARS INC. Terms of Service
AFRIKARS INC. TERMS OF SERVICE Effective Date: 11 September 2026 Last Updated: 11 September 2026 These Terms of Service ("Terms") govern your access to and use of the website, platform and related services operated by AFRIKARS INC., a company incorporated in the United States ("Company", "we", "us" or "our"). By creating an account, funding your Transaction Account, selecting a vehicle, requesting procurement or logistics services, or otherwise using the Platform, you ("Customer", "you" or "your") agree to be legally bound by these Terms. If you do not agree to these Terms, you must not use the Platform or our services. The parties. These Terms are an agreement between you (the "Customer") and the AFRIKARS group. "AFRIKARS", "the Company", "we", "us" and "our" refer to AFRIKARS INC. and the companies it holds: AFRIKARS INC. — Holding company, Delaware, USA — 1007 N Orange St, Wilmington, Delaware 19801, United States of America. AFRIKARS MOTORS LLC — Licensed Texas dealer, United States operations — 11501 Domain Dr, Austin, Texas 78758, United States of America. AFRIKARS.NG LTD — Nigerian operating company, RC 9632671 — 15 Abdou Diouf Crescent, Asokoro, FCT, Nigeria. The Customer, third-party Sellers and the independent Payment Service Provider are defined in Section 1.
1. Definitions
For purposes of these Terms: "Platform" means the Company's website, applications, systems and related digital services. "Transaction Account" means the electronic record displayed through the Platform showing the balance made available for the Customer's transactions through the Company's independent payment service provider. The Transaction Account is not a bank account or deposit account maintained by the Company. "Payment Service Provider" means the independent, duly licensed payment service provider engaged to hold, receive, process, convert and/or transmit Customer funds in connection with transactions conducted through the Platform. "Funding Event" means each individual deposit, top-up or other addition of funds to the Customer's Transaction Account. Each Funding Event is treated separately for purposes of refund eligibility. "Seller" means an independent automobile dealership, auction, wholesaler or other third- party seller from whom a vehicle is procured. "Vehicle" means a motor vehicle selected by the Customer and procured through the Platform. "Estimated Processing Amount" means the estimated amount required to purchase, process, transport, ship, clear and deliver a Vehicle and to pay applicable Company fees and other transaction-related costs.
2. Our Role
The Company operates an online marketplace and vehicle procurement and logistics platform through which customers, including customers located in Nigeria, may identify and request the procurement of vehicles located in the United States. The Company is not ordinarily the owner or seller of Vehicles displayed or procured through the Platform. The Company acts as a procurement, transaction-management and logistics service provider and, where applicable, as the Customer's authorised agent for specified aspects of the Vehicle procurement process. Vehicles may be sourced from independent automobile dealerships, wholesalers, auctions or other third-party Sellers. The Company's services may include: displaying or facilitating access to Vehicle listings; assisting the Customer in selecting a Vehicle; obtaining available Vehicle information and reports; procuring or purchasing a selected Vehicle from a Seller on the Customer's behalf or for the Customer's benefit; arranging payment to the Seller; arranging transportation within the United States; arranging export and international shipping; coordinating customs clearance and related processes in Nigeria; coordinating delivery of the Vehicle to the Customer; and providing related transaction-management services. Unless expressly stated otherwise in writing, the Company does not sell the Vehicle to the Customer, does not manufacture the Vehicle and does not provide a manufacturer's warranty or independent warranty for the Vehicle.
3. Agency and Beneficial Ownership
Where the Company procures a Vehicle pursuant to the Customer's instructions, the Customer authorises the Company to act as the Customer's procurement and transaction agent for the purpose of identifying, negotiating for, purchasing and arranging transportation of the Vehicle. Unless expressly agreed otherwise in writing, the Customer is the intended beneficial purchaser of the Vehicle. The Company may, where commercially or operationally necessary, temporarily take possession or title to a Vehicle or related documentation in connection with procurement, transportation, export, shipping, customs or other transaction requirements. Any temporary possession or title held by the Company does not, by itself, make the Company the beneficial owner of the Vehicle. The Company may execute documents, make payments and take other reasonable actions necessary to complete an authorised Vehicle transaction on the Customer's behalf.
4. Third-Party Sellers
Vehicles may be purchased from independent dealerships, auctions, wholesalers or other third-party Sellers. The Company does not control the acts, omissions, representations, warranties, inspection procedures, auction policies or other conduct of Sellers. Seller pricing, availability, condition reports, photographs, title information and other information may change or may contain errors. The Company will use reasonable care in passing available information to the Customer but does not guarantee the completeness or accuracy of information originating from a Seller, auction or other third party.
5. Vehicle Listings and Availability
A Vehicle displayed on the Platform is not considered purchased merely because the Customer selects, bookmarks or requests the Vehicle. A purchase becomes binding when the Company accepts the Customer's procurement request and, where applicable, completes or becomes irrevocably committed to the purchase from the Seller. Vehicle prices and availability may change without notice before purchase.
6. Vehicle Information and Customer Review
The Customer is responsible for reviewing the information made available concerning a Vehicle before authorising its purchase. Such information may include: make and model; year; mileage; VIN; photographs; title information; Vehicle-history information; auction information; damage information; Seller disclosures; inspection or condition reports; and estimated transaction costs. The Customer acknowledges that photographs, reports, VIN checks, auction descriptions and Seller disclosures may not identify every defect or condition affecting a Vehicle.
7. Auction Vehicles – "AS IS"
Where a Customer elects to purchase a Vehicle through an auction, the Vehicle is purchased on an "AS IS", "WHERE IS" and "WITH ALL FAULTS" basis, to the maximum extent permitted by applicable law. Before the Company proceeds with an auction purchase, the Company will provide or make available information reasonably available to it concerning the Vehicle, which may include a VIN check, vehicle-history report, auction photographs, auction condition report and other information supplied by the auction or Seller. The Customer is responsible for reviewing that information and deciding whether the Vehicle is suitable for purchase. Once the Customer authorises the purchase and the Company proceeds with the auction purchase, the Customer accepts the risks associated with the Vehicle's condition. Except to the extent liability cannot lawfully be excluded, the Company does not guarantee that an auction Vehicle is free from mechanical, electrical, structural, cosmetic, title, accident, flood, salvage, odometer or other defects.
8. Customer's Risk Following Purchase
Once the Company has purchased a Vehicle from a Seller or has become legally committed to purchase the Vehicle at the Customer's instruction, the Customer assumes the commercial risk associated with the Vehicle and the transaction, subject to the Company's express obligations under these Terms and applicable law. Such risks may include: Vehicle condition; mechanical or electrical defects; accident or damage history; auction condition; title or documentation issues; depreciation; changes in Vehicle value; shipping delays; port delays; customs delays; changes in duties or taxes; regulatory changes; exchange-rate movements; and circumstances outside the Company's reasonable control.
9. Transaction Account and Payment Service Provider
The Platform may display the Customer's balance maintained by the Payment Service Provider. The Company does not itself hold Customer funds in the Transaction Account. Customer funds are held and transmitted by the independent Payment Service Provider in accordance with its applicable terms, regulatory obligations and account arrangements. The Company may receive information from the Payment Service Provider necessary to display balances, reconcile transactions, administer Vehicle transactions and process eligible refund requests. The Customer acknowledges that the Transaction Account is a transaction facility associated with the Vehicle procurement services and is not intended to function as a general-purpose bank account, savings account, investment account or remittance account. The Company may change or replace the Payment Service Provider where reasonably necessary, including for operational, regulatory or commercial reasons.
10. Funding the Transaction Account
The Customer may fund the Transaction Account for the purpose of financing authorised Vehicle purchases and related services. Each deposit or top-up constitutes a separate Funding Event. The Company may maintain or receive records of each Funding Event, including: date and time; amount; currency; funding source; applicable FX rate; and resulting balance or transaction amount. The Customer must not use the Transaction Account for unlawful activity or for purposes unrelated to authorised transactions on the Platform.
11. Matching Funding Source
For AML, Fraud-Prevention and Chargeback Protection purposes, Customer funds must originate from a bank account or payment source held in the Customer's own name and matching the Customer's verified identity and account information. The Company and/or Payment Service Provider may reject, return, hold or suspend a payment where: the funding source belongs to a third party; the account information does not match the Customer's verified information; the source of funds cannot reasonably be verified; or the transaction raises AML, fraud, sanctions or chargeback concerns. The Customer must not fund the Transaction Account using another person's bank account, card or payment instrument unless expressly authorised by the Company and/or Payment Service Provider.
12. AML, Fraud Prevention and Chargeback Protection
The Company and Payment Service Provider may conduct identity verification, customer due diligence, source-of-funds checks, sanctions screening, transaction monitoring and other compliance procedures. The Company may delay, suspend or refuse a transaction where reasonably necessary for: AML/CFT compliance; fraud prevention; chargeback protection; sanctions compliance; identity verification; source-of-funds verification; regulatory compliance; or protection of the Company, Payment Service Provider, Customer or third parties. The Customer agrees to provide information and documentation reasonably requested for these purposes. Where legally permitted, the Company may be unable to disclose the specific reason for a compliance-related restriction or delay.
13. Estimated Processing Amount
Before commencing processing of a Vehicle, the Company will provide the Customer with an Estimated Processing Amount. Depending on the transaction, the Estimated Processing Amount may include: Vehicle purchase price; auction or dealer fees; Company processing fees; inland transportation; storage; documentation; export charges; shipping; insurance, where applicable; customs-related costs; duties, taxes and levies; port charges; local delivery; and other transaction-related expenses. The Estimated Processing Amount is an estimate and is not a guaranteed final price. Actual costs may increase because of changes in FX rates, auction or dealer charges, shipping costs, port charges, customs requirements, taxes, duties, storage, regulatory requirements, delays or other circumstances. The Customer must provide additional funds when reasonably required to cover increased transaction costs. The Company is not required to advance its own funds on behalf of the Customer.
14. Processing Fee
The Company may charge a processing fee for procurement, transaction management, logistics coordination and related services. The applicable processing fee will be disclosed before the relevant transaction is commenced. The processing fee is separate from the Vehicle purchase price and third-party transaction costs. Unless otherwise stated or required by law, the processing fee may be non-refundable once material processing has commenced.
15. Foreign Exchange
Where a transaction requires conversion between Naira, U.S. Dollars or another currency, the applicable conversion will be performed through the Payment Service Provider or other authorised FX/payment provider using the applicable market exchange rate disclosed to the Customer at the time of the conversion. The Customer acknowledges that FX rates fluctuate and that the Naira equivalent of a U.S. Dollar transaction may change as exchange rates change. The Company does not guarantee any particular future exchange rate. 15.1 Refund FX Rate Where a refund is payable to the Customer in Naira following a previous conversion from Naira into U.S. Dollars, the Naira refund will be calculated using the FX rate recorded for the Customer's most recent Funding Event involving the applicable currency conversion, rather than the prevailing market FX rate on the date the refund is processed. The FX rate applied at the time of the relevant Funding Event is the rate that was disclosed to the Customer for that conversion and recorded in the applicable transaction records. The Customer expressly acknowledges that: the refund FX rate is determined by the applicable historical Funding Event; the market FX rate may change between the funding date and refund date; the refund may therefore produce a Naira amount that is higher or lower than an amount calculated using the market FX rate on the refund date; and the Company will not re-price the refund using the prevailing market FX rate solely because the market rate has changed.
16. Refunds and Payouts
Refunds are subject to these Terms, the status of the relevant Vehicle transaction, applicable third-party costs, the Payment Service Provider's procedures and applicable law. A refund is not automatically available merely because a balance remains visible in the Customer's Transaction Account. Before calculating an eligible refund, the Company may deduct or apply amounts properly due in connection with the transaction, including: Vehicle purchase costs; Company processing fees; auction or dealer charges; transportation; shipping; customs; duties and taxes; storage; payment-processing charges; chargeback-related amounts; bank charges; and other transaction-related costs properly incurred on the Customer's behalf. 16.1 Twenty-Day Seasoning Period For AML, Fraud-Prevention and Chargeback Protection purposes, each Funding Event is subject to a 20-calendar-day seasoning period. Funds attributable to a particular Funding Event are not eligible for a refund request until the applicable 20-calendar-day seasoning period has expired. Each Funding Event has its own independent seasoning period. A later deposit does not restart, extend or otherwise alter the seasoning period applicable to an earlier Funding Event. 16.2 Start and End of Seasoning Period For purposes of calculating the seasoning period: Funding Date means the calendar date on which the Payment Service Provider records the relevant Funding Event as successfully received and credited to the Customer's Transaction Account. Seasoning End Date means the date that is 20 calendar days after the Funding Date. The funds become eligible for a refund request beginning at 00:00:00 on the Seasoning End Date, subject to all other requirements in these Terms. 16.3 Refund Availability Once the applicable seasoning period ends, the funds attributable to that Funding Event become eligible for a refund request and remain eligible until they are refunded or returned. A refund request may be submitted through the Platform or through another refund method expressly approved by the Company. 16.4 Automatic Return of Unused Funds If the Customer has not requested a refund of eligible unused funds, the Company will automatically return those funds to the Customer's verified originating account six (6) months after the end of the applicable seasoning period, with advance notice to the Customer. This automatic return applies independently to each Funding Event. 16.5 Multiple Funding Events Where a Customer makes multiple deposits, each deposit has its own independent 20-calendar-day seasoning period and its own six-month automatic-return backstop. The eligibility of one Funding Event does not affect the eligibility period of another Funding Event. 16.6 Refunds Following Customs Clearance and Delivery Where excess funds remain after completion of a Vehicle transaction, including payment of the Vehicle purchase price, shipping, customs clearance and other applicable transaction costs, the Company may process an eligible refund. Unless otherwise required by applicable law, an excess-funds refund relating to a Vehicle transaction will not be processed until the Vehicle has cleared Nigerian customs and has been delivered to the Customer. This requirement applies independently of the applicable seasoning period. Accordingly, expiry of the seasoning period does not require the Company to make an immediate payout where the underlying Vehicle transaction remains incomplete. 16.7 Refund Destination Refunds will ordinarily be made to the verified bank account or payment source from which the relevant Customer funds originated, subject to applicable law, AML requirements and the Payment Service Provider's procedures. The Company may require additional verification before a refund is processed. The Company will not ordinarily make a refund to a third party or an account that does not match the verified Customer. 16.8 Refund FX Calculation Where the eligible refund is paid in Naira following a previous Naira-to-U.S.-Dollar conversion, the Naira refund will be calculated using the applicable recorded FX rate from the Customer's most recent Funding Event involving the relevant currency conversion. The Company will not use the prevailing market exchange rate on the refund date merely because that rate is different from the historical funding rate. 16.9 Compliance Holds The Company and/or Payment Service Provider may delay or suspend a refund where reasonably necessary to complete: identity verification; source-of-funds verification; fraud investigation; chargeback investigation; sanctions screening; AML/CFT checks; or other legally required compliance procedures.
17. No General Right to Cancel a Vehicle Purchase
The Customer acknowledges that selecting a Vehicle and authorising its purchase may result in the Company entering into a binding purchase obligation with a Seller. Once the Vehicle has been purchased or the Company has become irrevocably committed to the purchase at the Customer's instruction, the Customer cannot cancel the Vehicle purchase merely because the Customer changes their mind. Any right to cancel, return or obtain a refund from a Seller is subject to the Seller's own terms and applicable law.
18. Additional Funding and Underpayment
If actual transaction costs exceed the amount initially estimated or funded, the Company may require the Customer to provide additional funds. The Company may suspend: further processing; transportation; export; shipment; customs clearance; release of documentation; or delivery until the required additional amount has been received. The Company is not required to complete a transaction where the Customer has not provided sufficient funds to cover the applicable costs.
19. Lien and Security Rights
If the Customer fails to pay amounts properly due in connection with a Vehicle transaction, including purchase costs, processing fees, shipping, customs, duties, storage or other transaction expenses, the Company may, to the maximum extent permitted by applicable law, exercise any lien, possessory lien, contractual security interest or other lawful security right available to it over the Vehicle, title documents or other property in the Company's possession or control. The Company may retain possession of the Vehicle or relevant documentation until outstanding amounts are paid. Where permitted by law, the Customer authorises the Company to take reasonable steps to preserve, enforce or realise such security rights. The Customer remains responsible for reasonable storage, preservation, enforcement and recovery costs resulting from unpaid amounts. Nothing in this section grants the Company a security right that is not otherwise available under applicable law.
20. Customs, Duties and Taxes
The Customer is responsible for applicable Nigerian customs duties, taxes, levies, port charges, clearance costs and other governmental charges associated with importing and receiving the Vehicle, unless expressly stated otherwise. Customs assessments are determined by the relevant authorities and may differ from estimates provided by the Company. The Company does not guarantee a particular customs valuation, duty amount or clearance period. AFRIKARS acts as the importer of record for the Vehicle and holds its own Nigerian customs licence. The Company arranges customs clearance and pays the applicable duties, taxes and charges to the relevant authorities on the Customer's behalf. The Customer remains responsible for funding those duties, taxes and charges as part of the transaction costs.
21. Shipping and Delivery
The Company may arrange transportation and international shipping through independent carriers, freight forwarders, logistics companies, shipping companies and other service providers. The Company does not guarantee a specific shipping or delivery date unless expressly agreed in writing. Shipping may be affected by port congestion, vessel schedules, customs inspections, weather, regulatory requirements and other circumstances outside the Company's reasonable control.
22. Events Outside Our Control
The Company will not be responsible for delay or failure caused by circumstances outside its reasonable control, including: auction or dealership delays; Seller conduct; transportation delays; port congestion; shipping delays; vessel delays; customs inspections; changes in U.S. or Nigerian law; regulatory requirements; strikes; natural disasters; war; civil unrest; sanctions; payment-system failures; banking restrictions; adverse weather; or other force majeure events.
23. No Vehicle Warranty
Unless expressly stated otherwise in writing, the Company provides no manufacturer's warranty or independent warranty for a Vehicle. Any warranty offered by a manufacturer, dealership, auction or other third party is governed by that party's terms.
24. Prohibited Conduct
Customers must not: provide false or misleading information; use another person's identity or bank account without authorisation; use the Platform for unlawful purposes; circumvent AML or identity-verification requirements; structure transactions to evade compliance controls; provide funds derived from unlawful activity; use the Platform to evade sanctions or other legal restrictions; interfere with Platform security; or engage in fraudulent chargebacks or payment disputes.
25. Chargebacks and Payment Disputes
The Customer should contact the Company before initiating a chargeback or payment dispute concerning a Platform transaction. A fraudulent, abusive or unjustified chargeback may constitute a material breach of these Terms. The Company reserves all rights available under applicable law to recover amounts improperly charged back, including reasonable costs incurred in connection with the dispute.
26. Limitation of Liability
To the maximum extent permitted by applicable law, the Company will not be liable for indirect, incidental, special, consequential or punitive damages, loss of profits, loss of business, loss of opportunity or diminution in Vehicle value arising from a transaction. To the maximum extent permitted by law, the Company's aggregate liability arising from a particular transaction will not exceed the fees actually paid to the Company by the Customer in respect of that transaction. Nothing in these Terms excludes or limits liability that cannot lawfully be excluded or limited.
27. Indemnity
To the maximum extent permitted by law, the Customer agrees to indemnify and hold harmless the Company and its officers, directors, employees and agents against claims, losses, liabilities, costs and expenses arising from: the Customer's breach of these Terms; inaccurate or fraudulent information supplied by the Customer; unlawful source of funds; unauthorised use of the Customer's account; failure to pay required transaction costs; customs, tax or governmental liabilities attributable to the Customer; or misuse of the Platform.
28. Privacy
The Company may collect and process personal information necessary to provide the services, verify identity, process transactions, conduct AML/KYC checks, arrange Vehicle purchases and shipping, comply with legal obligations and prevent fraud. The Company's Privacy Policy forms part of these Terms.
29. Suspension and Termination
The Company may suspend or terminate a Customer account where the Customer: breaches these Terms; provides false information; fails to provide required funds; fails required verification; engages in suspicious or fraudulent activity; violates applicable law; or creates a legal, regulatory or financial risk to the Company. Termination does not affect rights or obligations accrued before termination.
30. Governing Law and Jurisdiction
These Terms and any dispute, claim or controversy arising out of or relating to these Terms, the Platform or the services provided by the Company shall be governed by and construed in accordance with the applicable laws of the State of Texas, without regard to conflict-of-law principles. The courts located in the State of Texas shall have exclusive jurisdiction over any dispute, claim or controversy arising out of or relating to these Terms, the Platform or the services provided by the Company, except to the extent that applicable mandatory law requires otherwise. The Customer irrevocably submits to the jurisdiction of such courts and waives, to the maximum extent permitted by law, any objection based on inconvenient forum, lack of personal jurisdiction or improper venue. Nothing in this section is intended to exclude or restrict any mandatory rights or remedies that cannot lawfully be excluded or restricted.
31. Severability
If any provision of these Terms is held invalid, unlawful or unenforceable, that provision shall be modified or severed to the minimum extent necessary, and the remaining provisions will continue in full force and effect.
32. Entire Agreement
These Terms, the Privacy Policy, applicable transaction confirmations, Vehicle-specific disclosures and any other documents expressly incorporated into a transaction constitute the agreement between the Customer and the Company concerning the Platform and services. Where there is a conflict between these Terms and a specific written transaction agreement, the specific transaction agreement will prevail only to the extent expressly stated.
33. Customer Acknowledgements
By creating an account, funding a Transaction Account or using the Platform, the Customer acknowledges and agrees that: the Company generally acts as a Vehicle procurement, transaction-management and logistics service provider and is not ordinarily the owner or seller of the Vehicle; the Company may act as the Customer's authorised procurement and transaction agent; the Customer is ordinarily the intended beneficial purchaser of a Vehicle procured pursuant to the Customer's instructions; Vehicles may be purchased from independent dealerships, auctions or other third- party Sellers; auction Vehicles may be purchased "AS IS", "WHERE IS" and "WITH ALL FAULTS"; the Customer bears the applicable Vehicle and transaction risks following purchase, subject to the Company's legal obligations; Estimated Processing Amounts are estimates and actual costs may increase; the Customer may be required to provide additional funds where transaction costs increase; Customer funds are held and transmitted by the independent Payment Service Provider and are not held by the Company itself; funding must originate from a verified bank account or payment source matching the Customer's identity; each Funding Event has its own independent 20-calendar-day seasoning period for AML, Fraud-Prevention and Chargeback Protection; unused funds remain eligible for a refund after the applicable 20-calendar-day seasoning period; the Company will automatically return unused funds to the Customer six months after the seasoning period if no refund has been requested; excess funds relating to a Vehicle transaction may not be refunded until the Vehicle has cleared Nigerian customs and has been delivered to the Customer; where a Naira refund follows a prior Naira-to-U.S.-Dollar conversion, the refund FX rate is based on the recorded rate applicable to the Customer's most recent relevant Funding Event and not the prevailing market rate on the refund date; the refund amount may therefore differ from an amount calculated using the prevailing market FX rate on the refund date; the Company and/or Payment Service Provider may delay or suspend refunds for AML, Fraud-Prevention, Chargeback Protection, sanctions, identity-verification or other legal and compliance reasons; the Company may require additional funding where the actual cost of a transaction exceeds the estimate; and the Company may exercise any lawful lien or security rights available to it where amounts remain unpaid. BY CREATING AN ACCOUNT, FUNDING YOUR TRANSACTION ACCOUNT OR USING THE PLATFORM, YOU CONFIRM THAT YOU HAVE READ, UNDERSTOOD AND AGREED TO THESE TERMS.