Terms of Use

Terms & Conditions

Boaz Exchange (the "Platform") is a trading and investment platform provided and operated by Boaz Exchange Services Limited. References in these Terms and Conditions (“Terms”) to “BESL”, "Company," "we", "our" or "us", are to Boaz Exchange Services Limited depending on the context, and references to "you" or "your" are to the persons with whom BESL enters into these Terms.

All your dealings on the Platform shall be in strict compliance with the policies, regulations, codes of conduct, and ethics of BESL (the "Exchange Rules").

Please read the terms and conditions very carefully as they affect your rights and liabilities under the law. By accessing this Platform, you are indicating your acceptance of these Terms and Conditions and the Privacy Policy. If you do not agree to these Terms and Conditions, please do not access or use the Platform. If You have any questions on the Terms, please contact (info@boazexhange.com)

Amendment

These Terms may be updated from time to time for legal or regulatory reasons or for the proper operation of the site without any recourse to you whatsoever. Any changes will be notified to you via the e-mail address provided by you on registration or via a suitable announcement on the site. The changes will apply to the use of the site after we have given such notice.

Your continued use of BESL's services and the Platform after any such amendment, modification or substitution shall signify your acceptance of any new terms and conditions. It is recommended that you pay attention to notifications on the website regularly signaling any updates or amendments to these Terms & Conditions.

General Conditions

By agreeing to these Terms, you represent that you are at least of the age of consent in Nigeria.

You understand that these Terms form a valid and binding contract between you and BESL.

You may not use the Platform for any illegal or unauthorised purpose nor may you, in the use of the Platform, violate any laws of Nigeria (including but not limited to copyright laws). You must not transmit any worms or viruses or any code of a destructive nature.

You understand that your personal information may be transferred, unencrypted and involve (a) transmissions over various networks; and (b) changes to conform and adapt to technical requirements of connecting networks or devices. For further information on how we use your personal data, please see our Privacy Policy Here.

You agree not to reproduce, duplicate, copy, sell, resell or exploit any portion of the Platform or our services without the express written permission by us.

You understand that to withdraw money deposited to the Platform, a transaction must have occurred.

Permissions And Warranties

You are not permitted to link any other website to the Platform without obtaining the express prior written consent of BESL.

Access to the Platform is at your own risk. BESL does not represent or warrant that the use of the Platform, or any material downloaded from it, will be free from errors or will not cause damage to property, including but not limited to loss of data, system failure, or infection by computer viruses or other harmful components.

BESL shall not be responsible for any loss, omission or damage that may arise in connection with your use of the Platform due to IT or network downtime. The responsibility for the security of your password associated with the Platform shall solely be yours. 

Under no circumstances shall BESL be liable, directly or indirectly, for any special, punitive, or consequential damage arising in any way from:

• Your use of or inability to use the Platform
• Your access to the Platform or any part thereof
• Your reliance on or use of any information or services provided through the Platform
• Interruptions, delays in operation or transmission
• Any failure of performance in connection with the Platform
• Actions or omissions of third parties interacting with the Platform

BESL will use every reasonable endeavor to ensure the integrity and security of the server associated with the Platform, however, BESL does not guarantee that the server will be free from unauthorized users or hackers.

When you register to use the Platform, you will be asked to create a password; to prevent fraud, you must keep this password confidential and must not disclose it or share it with anyone. If you know or suspect that someone else knows your password, you should immediately change the password.

Limitation of Liability

Under no circumstances shall BESL be liable, directly or indirectly, for any special, punitive, or consequential damages arising from:

• Your use of or inability to use the Platform
• Your access to the Platform or any part thereof
• Your reliance on or use of any information or services provided through the Platform
• Interruptions, delays in operation or transmission, or any failure of performance in connection with the Platform
• Actions or omissions of third parties using or interacting with the Platform This limitation applies whether the alleged liability is based on contract, tort, negligence, strict liability, or any other legal theory, even if BESL has been advised of the possibility of such damages.

If you are dissatisfied with the Platform or any of these Terms and Conditions, or other rules, policies, guidelines, or regulations applicable to use of the Platform, such as the Exchange Rules, your sole exclusive remedy is to discontinue using the Platform.

Third Parties

Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.

Refusal or Discontinuance of Service

BESL reserves the right to refuse or discontinue service to you at its sole discretion. It may deny you access to all or part of the Platform without notice if you engage in any conduct or activities that BESL in its sole discretion believes violates any of these Terms and Conditions. The Company shall have no responsibility for any consequences resulting from such discontinuance or lack of notification.

You agree that BESL has the right to monitor use of the Platform from time to time and to disclose any information as necessary to satisfy any applicable law or to protect itself.

Security

You agree that the security of your account password is solely your own responsibility. You further agree that if you believe that your account password has been compromised in any way, you will notify BESL immediately via email to (fraudoperations@boazexchange.com)

You shall be held responsible for any misuse or compromise to your account of which BESL is not properly notified. You agree that if any security violations are believed to have occurred in association with your account, the Company has the right to suspend all access to your account pending an investigation and resolution. You also agree that BESL has the right to cooperate in any government, legal or other investigation regarding any aspect of its services or your use of the Platform.

We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.

Authorization of Electronic Mandates

In consideration of BESL (and its owners, suppliers, consultants, advertisers, affiliates, partners, employees, or any other associated entities, all collectively referred to as ‘associated entities' hereafter) acting on any mandates given via the Platform and all other approved electronic channels regarding Your trading account  (the "Services"), you hereby confirm and accept that:

Terms of Use

It is your responsibility to keep your profile details, including but limited to, your username, password, and other electronic channel details, private and confidential in order to prevent unauthorized access to your account.

You shall notify BESL of any suspicious or compromising email, message or notification regarding your account before taking any action in respect of that notification. Any transaction executed on your account before BESL is notified of such compromise will be binding on you as though you performed such transaction.

BESL is authorized by you to act on your mandates, transmitted via any of the referenced electronic channels registered under your name and recorded with the Company, without bearing your signature or handwriting; and is under no obligation to verify the identity of the individual sending the mandate or the origin of the mandate in your name, so that any transaction made pursuant to the mandate shall be binding upon you.

You are bound by every mandate sent via any of the referenced electronic channels which have been acted upon by the Company, where a subsequent mandate issued by you to revoke the previous one has not been received by BESL or where the previous mandate has been acted upon by the Company.

It is your responsibility to confirm that a mandate sent by you has been successfully submitted on BESL's database and has been reflected on your account.

Proprietary Rights to Content

You acknowledge that the content, service and software (including but not limited to text, sound, photographs, graphics or other material contained in any communication, sponsor advertisements or messages, whether by its owners, its advertisers, affiliates or partners) of the Company are protected by copyrights, trademarks, service marks, patents and/or other proprietary rights and laws; therefore, You are only permitted to use content, service or software as expressly authorized by the Company, its advertisers, affiliates, and partners.

Ownership of Data

Title to, and all intellectual property rights in the data you provide will remain your property. By accepting these Terms, you are granting the Company permission to use, copy, transmit, store, and back up your information and data to ensure your access and use of the Platform, and for any other purpose related to the provision of services to you. For more information, kindly refer to the Privacy Policy.

Third-Party Applications and your Data

You acknowledge that by enabling third-party applications for use in conjunction with the Platform, you are allowing BESL to provide access to your data to those third parties as required. The Company shall not be responsible for any disclosure, modification or deletion of your data resulting from any such third-party access. However, there will equally be a provision for retrieving your consent and deleting your data if you find it expedient or are no longer interested in your data being processed any longer.

Disclaimer of Warranties

To the maximum extent permitted under applicable law, the services, materials, and any product, service, or other item provided by or on behalf of BESL are offered on an "as is" and "as available" basis. BESL expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title, or non-infringement, or warranties arising from course of performance, course of dealing, or usage in trade. Without limiting the foregoing, BESL does not represent or warrant that the Platform, services, or materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. BESL does not guarantee that any order will be executed, accepted, recorded, or remain open. Except for the express statements, agreements, and rules set forth in these Terms, you acknowledge and agree that you have not relied upon any other statement or agreement, whether written or oral, with respect to your use and access of the Platform. You understand and agree that BESL will not be liable for any losses or damages arising out of or relating to:

• Any inaccuracy, defect, or omission of commodity price data
• Any error or delay in the transmission of such data
• Interruptions in any such data
• Regular or unscheduled maintenance and resulting service interruptions
• Damages incurred by other users’ actions, omissions, or violations of these Terms
• Damages caused by unauthorized or illegal actions of third parties
• Other exemptions mentioned in disclaimers and platform rules issued by BESL

Disclaimer of Damages and Limitation of Liability

To the maximum extent permitted by applicable law, in no event shall Boaz Exchange, its affiliates, and their respective shareholders, directors, officers, employees, agents, representatives, suppliers, or contractors be liable for any incidental, indirect, special, punitive, consequential, or similar damages (including, without limitation, loss of data, revenue, profits, or business opportunities) arising out of the services or any other item provided by or on behalf of BESL, whether under contract, statute, strict liability, or other theory, even if BESL has been advised of the possibility of such damages. Notwithstanding the foregoing, in no event shall the total liability of BESL and its affiliates exceed the amount of fees paid by you to BESL under these Terms in the twelve-month period immediately preceding the event giving rise to the claim.

Indemnification

You shall indemnify, defend, and hold BESL harmless from all liabilities, penalties, losses, damages, costs, expenses, attorney's fees, causes of action or claims caused by, arising out of or related to or resulting directly or indirectly from (i) your use of, or conduct in connection with, the Platform (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of the Platform. If you are obligated to indemnify BESL operators, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these Terms, BESL will have the right, in its sole discretion, to control any action or proceeding and to determine whether BESL wishes to settle, and if so, on what terms.

Your Acceptance of these Terms and Conditions

By using this Platform, you are stating and acknowledging that you have read the Terms and Conditions above and that you understand these Terms and Conditions and agree to be bound by them.

Survival

Any Term or Condition or part of any Term or Condition herein is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force. If any invalid, unenforceable or illegal provision is deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.

Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising from the use of the Platform shall be submitted to the jurisdiction of the courts of Lagos State, Nigeria.

Warehousing Rules (ISA 2025)

All commodities traded on the Platform must be stored in approved warehouses that comply with the Investment and Securities Act (ISA), 2025. BESL shall ensure that warehousing partners maintain proper documentation, grading, and traceability. Users acknowledge that BESL is not liable for losses arising from warehousing failures beyond its control.

Delivery and Risk Transfer

Risk and ownership in commodities traded on the Platform shall pass to the buyer once the commodities have been clearly identified, allocated, and recorded in the buyer’s account on the Platform. BESL shall not be liable for any loss, damage, or delay occurring after risk has transferred, including but not limited to market fluctuations, third-party actions, or system interruptions.

Cancellation Policy

Orders may be cancelled prior to execution, subject to platform rules and applicable fees. Once a trade is executed, cancellation is only permitted under specific conditions such as fraud, regulatory intervention, or system error.

Payment Terms

Accepted payment methods include bank transfers, debit/credit cards, and approved payment gateways. All transactions are subject to verification and may be delayed or declined based on compliance checks. Refunds and chargebacks are governed by BESL’s refund policy.

Refunds and Reversals

Refunds may be issued in specific cases such as erroneous transactions, failed order executions, or cancellations permitted under platform rules. All refund requests must be submitted within 2 calendar days of the transaction and will be subject to verification and approval by BESL. Where a refund is approved, it will be processed using the original payment method. All eligible refunds will be completed within a maximum of 7 working days from the date of approval. BESL is not liable for delays caused by third-party financial institutions. Users are advised to review their transaction details carefully before confirming. Refunds will not be issued for completed trades, wallet funding errors due to incorrect input, or transactions outside the refund window. Please refer to our refund policy for further information.

User Conduct and Ethics

Users are expected to maintain high standards of integrity, professionalism, and lawful behavior. By accessing and using the platform, you agree to:

• Act in compliance with all applicable laws, regulations, and platform policies.
• Refrain from fraudulent activity, market manipulation, harassment, or misuse of data.
• Treat BESL staff, other users, and third parties with respect and fairness.
• Operate only one account, unless expressly authorized by BESL.
• Avoid any conduct that may compromise the security, fairness, or integrity of the platform.

BESL reserves the right to suspend or terminate access for violations of this policy and may report misconduct to relevant authorities where necessary.

User Information

We collect your personal data to enable secure access and trading on this platform. By proceeding, you confirm that:

• The information you provide is true, accurate, and complete to the best of your knowledge.

You have the right to access, correct, retrieve, or delete your personal information in accordance with applicable data protection laws.

Compliance with Regulations

We collect your personal data to enable secure access and trading on this platform. By proceeding, you confirm that:

• The information you provide is true, accurate, and complete to the best of your knowledge.

You have the right to access, correct, retrieve, or delete your personal information in accordance with applicable data protection laws.

Refund Policy

At Boaz Exchange Service Limited (BESL), we are committed to maintaining transparency and fairness in all transactions. This Refund Policy outlines the conditions under which users may request a refund.

Use of Cookies

We use essential cookies to ensure our website functions properly. With your consent, we may also use non-essential cookies to enhance your browsing experience, personalize content, and analyze site traffic. By clicking “Accept”, you agree to the use of cookies as described in our Privacy Policy. You may manage your cookie preferences or withdraw consent at any time by clicking “Preferences”.