Terms & Conditions

Referral terms and conditions

By using this product, you are deemed to have read and agreed to the following terms and conditions.

The following terminology applies to these Terms and Conditions:

"Referrers", "You" and "Your" refers to you, the person participating and accepting these Terms and Conditions.

“NYSC” refers to National Youth Service Corps.

“Paelyt”, “Us” and “Our” refers to the service providers of the Product.

"Product" refers to NYSC Loans, the subject matter of these Terms and Conditions.

"NYSC Participants" refers to eligible persons on NYSC Service who have received a call-up letter from NYSC, are currently within their active service year and have not exceeded their pass out date as stated on their posting letter and/or NYSC ID card.

Any use of the above terminology or other words in the singular, plural, capitalization is taken as interchangeable and therefore referring to same. And any reference to natural persons include legal persons and vice-versa and references to any gender includes reference to the other gender and vice-versa. These terms as well as the reward points system is subject to change by Paelyt without notice to the Referrer The following terms and conditions refer to the offer, acceptance and consideration necessary for the Referrer to introduce NYSC Participants to the Product:

1. The Product will be available to all NYSC loan participants and will be available to be introduced by the Referrers during the pendency of the Product

2. Referrers include any individual or organisation that signs up to be a referral on the NYSC Platform www.nysc.cashnownow.net or on any of our other channels and receives a dedicated referrer code. Referrer includes NYSC Participant that sign up on the NYSC Platform to access the Product.

3. A Super Referrer is a referrer that has invited other people to become referrers. He or she enjoys the super referrer benefit, which includes earning points that can be converted to cash when NYSC corps members introduced by the referrers under him take an NYSC loan.

4. All Referrers must register on the NYSC CashNowNow platform and this includes the performance of the following as outlined below:
a) Register at www.nysc.cashnownow.net.
b) Be assigned a unique referrers code, which will be sent to your email address, for onboarding other Referrers and/or NYSC loan participants.

5. The following points shall apply for each category of Referrers:

Category Point searned Other months commission Frequency
Super Referrers 15 Points 15 Points Monthly per successful repayment by each NYSC loan participant
Referrers 100 Points 50 Points Monthly per successful repayment by each NYSC loan participant

6. Points at all levels are earned after successful monthly repayment by the NYSC Participant who have accessed a loan product

7. Upon full repayment of any product, Referrers shall cease earning points for such NYSC Participant

8. No points shall be earned by any Referrer on any product advanced to an NYSC Participant who has defaulted in the scheduled repayment. All points earned on such defaulted NYSC corp member shall be taken back by the Company

9. Points are accrued real-time on each Referrer’s page of the NYSC Platform. Referrers will be able to view detailed reports on the Paelyt website.

10. Referrers can cash out of the points reward system provided that their accumulated points is at least 2,500 points and shall bear all financial charges as communicated for cashing out of the points reward system.

11. Any new features introduced from time to time to augment or enhance the Product shall be subject to these Terms and Conditions.

12. The relationship of the Parties herein shall be that of independent contractors. No partnership or joint venture is created by these Terms. The Referrer shall in all its dealings with third parties make it clear that it is acting on its own account as an authorised Referrer in respect of the Product and not as an agent of Paelyt. Neither Party shall be entitled to bind the credit of the other. These Terms do not constitute or have the effect that the Referrer is the legal representative, employee or agent of Paelyt. The Referrer shall have no authority to assume any obligation of any kind on behalf of Paelyt or to bind or commit Paelyt in any way.

13. The Referrer shall observe any directions and instructions given to it by Paelyt in relation to promotion and marketing of the Products and agrees to ensure that all marketing and advertising materials which it uses is as provided by Paelyt and shall remain the property of Paelyt

14. 14. CONFIDENTIALITY AND NON-DISCLOSURE. The Referrer agrees:
a) not to disclose any information or data of any nature, tangible or intangible, oral or in writing and in any format or medium, which by its nature or content is identifiable as confidential and/or proprietary to Paelyt (Confidential Information) to any third party for any reason or purpose whatsoever without the prior written consent of Paelyt, save in accordance with the provisions of these Terms;
b) not to utilise, employ, exploit or in any other manner whatsoever use Confidential Information for any purpose whatsoever other than strictly in relation to these Terms;
c) to protect Confidential Information by using the same standard of care used to safeguard its own information of a confidential nature and by taking all reasonable steps to prevent any unauthorised disclosure of Confidential Information; and
d) that the unauthorised or unlawful use or disclosure of Confidential Information may cause irreparable loss, harm and damage to Paelyt
e) at any time upon receipt of written notice to the Referrer, in any format, require the Referrer to return or destroy any material containing, pertaining to or relating to Confidential Information and to irretrievably expunge such Confidential Information from any word processor, computer or other similar device into which it was entered or programmed, and may, in addition, require the Referrer to furnish a written statement to the effect that, upon such return, the Referrer has not retained in its possession, or under its control, either directly or indirectly, any such material. The Referrer shall comply with all requirements in terms of this Clause within 7 (seven) days of receipt of written notice thereof
f) The provisions of this clause will survive termination of these Terms.

15. Subject to and without limiting any other provision of these Terms, the Referrer hereby indemnifies and holds Paelyt harmless against any and all losses and claims arising from or relating to
a) the Referrer's promotion of the Product;
b) any breach by the Referrer of any the provisions of these Terms;
c) any claim, proceeding or action brought by a third party relating to the infringement by the Referrer of any proprietary rights of that third party;
d) any fines, duties, claims or actions arising from the Referrer's failure to observe or perform any duties or obligation in accordance with any applicable laws, licence, certificate and/or authorisation; and/or
e) any claim or action relating to or arising from the breach of the Referrer's obligations with respect to Confidential Information and/or the proprietary rights of Paelyt under these Terms.

16. LIABILITY. The Referrer shall be liable for all damages, expenses or losses incurred because of any act or omission connected with or arising by reason of misrepresentation, wilful misfeasance, bad faith, or gross negligence, of the Referrer in the performance of the Referrer’s duties or by reason of reckless disregard of the Referrer’s obligations and duties under these Terms. Under no circumstances shall ether party be liable for any indirect, incidental, economic, special, punitive, or consequential damages, whether for breach of contract, negligence or under any other cause of action, that results from the relationship created by these Terms.

17. These Terms are governed by the Laws of the Federal Republic of Nigeria. All disputes shall be resolved via mediation by the Referrer and representatives of Paelyt and the decision of Paelyt’s management shall be final.

18. By Accepting these Terms, you certify that you are fully bound by the obligations required of Referrers as communicated in any literature relating to the Product.