CREFCOM provides a structured commerce facilitation platform that enables Vendors to sell goods and services to buyers using controlled payment arrangements, escrow-based deposits, installment payments, and tranche-based settlement mechanisms.

CREFCOM does not act as a principal seller and does not take ownership of goods listed by Vendors.

To operate on CREFCOM, Vendors must:

• Be a legally registered business (where applicable)
• Provide valid KYC documentation, including: CAC documents, Valid identification, Bank account details, Tax Identification Number (if applicable)
• Maintain accurate business and contact details
• Meet CREFCOM's product quality and service standards

CREFCOM reserves the right to approve, suspend, or reject any Vendor account at its discretion.

Vendors shall:

• Provide accurate descriptions, pricing, and specifications of all listed products or services.
• Ensure fair market pricing.
• Guarantee that all products are genuine, lawful, and merchantable.
• Honour warranties, product quality, and return obligations as required by Nigerian consumer protection laws.

Vendors agree to:

• Process confirmed orders promptly.
• Deliver products within agreed timelines.
• Maintain proper packaging, labeling, and logistics standards.
• Provide tracking details where applicable.

5.1 Buyer Payments

All buyer payments shall be deposited into CREFCOM-designated escrow accounts.

5.2 Tranche Release Mechanism

Vendor payments shall be released in tranches, based on:

• Delivery confirmation
• Buyer payment milestones
• Platform settlement rules

5.3 Settlement Timeline

Vendor funds shall be settled within [3–7] working days after fulfillment of the relevant tranche conditions.

CREFCOM operates on a commission-only basis

CREFCOM may also charge:

• Escrow service fees
• Logistics facilitation charges
• Value-added service fees

All applicable charges shall be communicated transparently.

The Vendor confirms that:

• All goods are legally sourced.
• No counterfeit, prohibited, or restricted products are listed.
• They comply with all applicable Nigerian laws and regulations.
• They indemnify CREFCOM against legal claims arising from product quality, misrepresentation, or regulatory breaches.

• Vendors shall honour legitimate returns and refunds.
• Refunds shall be processed through the escrow system.
• CREFCOM shall act as a neutral dispute resolution facilitator.
• CREFCOM's decision shall be final where disputes cannot be amicably resolved.

CREFCOM reserves the right to:

• Withhold settlements
• Suspend or terminate Vendor accounts
• Recover losses
• Apply penalties

Where Vendors:

• Fail to deliver
• Supply substandard or fake goods
• Engage in fraudulent practices
• Breach platform policies

Vendors shall:

• Protect customer data.
• Comply with Nigeria Data Protection Act (NDPA).
• Maintain strict confidentiality of platform processes.

Either party may terminate this engagement by giving 14 days written notice.

Immediate termination may occur where:

• Fraud is detected
• Legal breaches occur
• Platform risk exposure is threatened

CREFCOM shall not be liable for:

• Vendor operational failures
• Product defects
• Delivery delays caused by third parties
• Buyer misuse of products

This Agreement shall be governed by the laws of the Federal Republic of Nigeria.