The purpose of these terms and conditions (“Terms “,“T&C” or “Contract”) is to set forth the agreements between FarmPal Ltd.( “FarmPal, us, we, or the company“) and the investor (“You”) to invest in a third party farmer to cultivate farm plots or raise livestock through our digital platform ( www.farmpalrw.com).
FarmPal is a Rwanda-based digital agriculture platform linking smallholder farmers and youth
agripreneurs with potential investors.
Through crowdsourcing, we enable common people to invest in agricultual projects of their choice
for a specified agricultural season.
We are enabling people to earn a profit while empowering farmers.
It is mutually understood and agreed upon by FarmPal and the investor that :
• The investor will receive regular updates on the status of the farm. Notifications will be sent
to your Email and full updates will be available on the platform.
• You are entitled to a physical farm visit. These will be arranged throughout the season and you will be notified a fortnight ahaed of the scheduled visit. If interested in the visit, you will be expected to respond to the notification before the set deadline.
• You agree to pay full amount equivalent to the farm units you committed to.
• FarmPal, alongside the farmer, shall oversee the farm project implementation on behalf of the investor until the investment in question matures.
• You agree that by investing in a farm, your funds will be tied and unavailable for the entire duration of the farming cycle and neither FarmPal nor the farmer will refund your contribution until the successful completion of the farming cycle.
• At the end of a successful farming cycle, you will be given an opportunity to decide whether to re-invest your funds into a new farm project or to withdraw your fund and have them transferred to the bank account you provided with us.
• At the end of the farming cycle,you will be payed back your initial investment plus the set return on investment (ROI) which will be specific to every farm. Kindly note that payback will be subject to transaction cost.
• At the end of a farming cycle, any profits made during harvest will be shared between the investor, farmer, and FarmPalin a 40-40-20 percent ratio, respectively. Kindly note that payback will be subject to transaction cost.
• You acknowledge that you do not own any of the farms cultivated and are only entitled to the proceeds of any farming cycle you invested in.
• FarmPal guarrantees a sound and professional management of the farm project you have invested in to ensure the return on investment is per the investor’s expectations.
• Neither party shall be liable for any delay or failure to deliver any of its obligations if the delay or failure results from events or circumstances outside its reasonable control such as, but not limited to, natural disasters, war, political conflicts to name but a few.
• The farm “YOU” have invested in shall be covered by UAP Crop Insurance scheme the details of which can be found at https://www.uap-group.com/sites/rwanda/Pages/CorporateCrop-Insurance-Rwanda.aspx .
• These terms shall go into effect the date you register or sign to invest in a farm with FarmPal.
• You confirm these agreements by either registering as an investor or signing a copy of these terms.
• These Terms may be superseded by any amended Terms.
• Where the investment is made in a currency other than Rwandan Francs (Rwf), foreign
exchange gain or loss, and fluctuations in currency rates may have an impact on the profit
made on the investment.
• FarmPal shall use the National Bank kof Rwanda exchange rate as its official rate.
This agreement shall be governed by the Laws of the Republic of Rwanda. It is in both parties’ interests to seek amicable solutions to any dispute that might arise out of this agreement. If the dispute cannot be settled amicably, it shall be reffered to the Rwandan jurisdiction.
Any querries or comments regarding the agreement, the platform or its contents should be directed to email@example.com