Terms and Conditions

1 Definitions

• "Chit Fund" means a rotating savings and credit association (ROSCA) digitally organized and managed via the Platform.
• "Member" refers to any individual who has registered an account on the Platform and successfully completed mandatory identity verification (KYC).
• "Organiser" designates the verified Member who establishes and administers a specific Chit Fund.
• "Cycle" denotes a singular operational round encompassing the collection of contributions and the subsequent disbursement of the prize pot.
• "Auction" means the competitive descending-bid process utilized to determine the recipient of the prize pot within a given Cycle, where applicable.
• "Territory" signifies the geographic jurisdiction under which a specific Chit Fund operates, which dictates applicable fiat currency and statutory compliance frameworks.

2 Eligibility

To access and utilize the Services, you must unconditionally meet the following criteria:

• Be at least 18 years of age, or have reached the legal age of majority in your jurisdiction.
• Maintain a valid mobile phone number and successfully complete OTP verification.
• Provide accurate and truthful personal identity information during profile registration.
• Not presently be suspended or banned from the Platform for prior conduct violations.

3 Account & Identity

You are exclusively responsible for maintaining the security and confidentiality of your account credentials. Each Member account is irrevocably linked to a single, unique mobile phone number. You agree to:

• Provide accurate, current, and comprehensive demographic profile information.
• Promptly update your information should any material changes occur.
• Refrain from creating multiple accounts or impersonating another individual.
• Comply with all formal Identity Verification (KYC) directives mandated by the Platform.

4 Chit Fund Participation

Joining a Chit Fund

Admittance into a Chit Fund is strictly by invitation from the Organiser. By accepting an invitation, you enter into a binding agreement to fulfill all scheduled financial contributions for the entirety of the fund's duration.

Periodic Contributions

Members must render their required contributions according to the frequency and schedule established by the Organiser. Failure to meet payment deadlines may result in a reduction of your Reputation Score and the application of penalty fees as outlined in the specific fund's rules.

Discount Caps

The maximum allowable discount (or bid) permitted during any auction cycle is governed by parameters defined for the specific Territory in which the fund operates. This regulatory cap is structurally implemented to protect Members from excessive capital deductions.

Auction & Raffle

In auction-based funds, Members bid for the right to claim the cycle's prize pot at a discounted rate. In raffle-based funds, the recipient is drawn randomly. Hybrid structures may also apply. The governing mechanics of each fund are explicitly described upon its creation.

Prize Pot Disbursement

The winning Member shall receive the total aggregated prize pot, directly minus any applicable Organiser commission and the prevailing auction discount (if applicable). Disbursement schedules are strictly governed by the fund's predetermined configuration.

5 Payments & Financial Obligations

• All financial figures are denominated in the fiat currency statutory to the fund's designated Territory.
• Transaction records (contributions and disbursements) are maintained in the Platform's ledger and made visible to all respective fund Members to ensure transparency.
• Zeettu operates exclusively as a record-keeping and coordination intermediary. The Platform does not hold, transfer, process, or escrow funds. All actual monetary transfers occur off-platform directly between Members and Organisers.
• Members are solely responsible for ensuring that payments reach the Organiser within the stipulated timeframes.

6 Reputation & Trust Scores

Each Member is assigned an algorithmic Reputation Score that reflects payment consistency and general platform conduct. Timely payments and positive engagement improve this score. Conversely, delayed payments, defaults, or conduct violations will reduce your score. Organisers may utilize these scores to assess eligibility for future fund invitations.

7 Communication & Conduct

By utilizing the Platform, you consent to receive transactional notifications integral to fund operations. You expressly agree not to:

• Utilize the Platform for any unlawful activity, including money laundering or financial fraud.
• Falsify your identity or submit fraudulent verification materials.
• Attempt to manipulate auction outcomes or engage in collusion with other Members.
• Harass, threaten, or abuse other Members or Zeettu administrators.
• Disrupt, interfere with, or attempt to compromise the Platform's technical infrastructure or security measures.

8 Limitation of Liability

Zeettu provides the Platform on an "as-is" and "as-available" basis. To the maximum extent permitted by applicable law:

• We disclaim all implied warranties regarding the accuracy, reliability, or continuous availability of the Services.
• We bear no liability for financial losses arising from off-platform disputes between Members, defaulted payments, or Organiser mismanagement.
• Our maximum aggregate liability to you shall not exceed the total administrative fees paid by you to Zeettu (if any) during the twelve (12) months immediately preceding the claim.

9 Contact Us