Terms of use

About these terms

These terms apply to everyone who uses the LIG Investment Club website and member portal: applicants, members and officers. They sit alongside the club's constitution and the decisions of its members. Where they differ, the constitution and the members' decisions apply.

Membership

• Membership is open to anyone the club accepts who pays the joining fee. An application becomes a membership only once the treasurer confirms the fee.
• Give your real name, a phone number and an email address you control, and keep them up to date. The club may ask for your National ID Number to confirm who you are.
• Accounts are by invitation and belong to one person. Do not share your password or sign-in codes, and do not let anyone else use your account.

Payments

Pay only to the club accounts shown in the portal or on your application page. Nobody from the club will ask you to pay into a personal account. A payment counts once the treasurer has matched it against the club's statement, so quote the transaction ID when you tell the portal what you paid.

Investments and savings goals

• Each product has a term, a minimum amount and a rate. The rate you sign up at is fixed for the whole term.
• Returns are credited on the product's schedule. If you close an investment early you receive your principal plus the returns for the periods already completed. Returns for a part period are not paid.
• The club limits how much each member can hold in money market products. The current limit is shown in the portal.
• A savings goal earns nothing until it reaches the product minimum and converts into an investment.
• The club invests members' money in bonds, treasury bills, cooperatives, investor clubs and land, and these carry risk. The club is not a bank, and money held with the club is not a bank deposit.

Land

• A reservation holds a plot for the deposit window shown in the portal. If the deposit is not confirmed in time, the plot is released.
• After the deposit, the balance is paid on the schedule set for the booking. A late instalment attracts the penalty shown in the portal once the grace period ends.
• If arrears continue, the club may repossess the plot after written notices. Money already paid is refunded less the surrender fee and any unpaid penalties.
• The title is transferred once the plot is fully paid and the transfer is approved.

Withdrawals and leaving

• Withdrawals are paid only to the bank or mobile money account saved in your profile. Requests above the approval threshold also need the chairperson's approval.
• For your protection, payouts are held for 48 hours after a change to your email, phone number, payout account or sign-in method, and after a password reset.
• You may leave the club by asking for an exit in the portal. Everything owed to you is settled in one payment, less land arrears and fees, once it is approved.

Your account and the portal

• Every sign-in needs your password and a one-time code. Report anything you do not recognise with Report This in the portal, or contact the club.
• The portal shows your balances and statements as the club recorded them. If something looks wrong, tell the treasurer. Mistakes are corrected by a recorded reversal approved by the chairperson, never by editing history.
• The club may suspend an account that is misused, and closes a member's login after they leave once nothing is owed either way.
• The club works to keep the portal available but cannot promise it always will be. Your money and records do not depend on the portal being online.

Changes and questions

The club may update these terms. The date at the top shows the current version. Questions about these terms go to the club: +256782546249.