Legal Agreements

1. Nature of Our Service

Deallock.ng provides a Deal Securing & Purchase Support Services.
We act as a procurement intermediary by using our funds to secure fast-selling or discounted items on behalf of buyers.
We do not manufacture, own or control third-party seller inventory.

2. Eligibility

Users must be atleast 18 years old and legally capable of entering binding contracts under Nigerian law.

3. Deal Verification & Approval

Deallock deserves the right to:

• Verify all submitted deals
• Conduct price and authenticity checks
• Request supporting documentation
• Accept or reject any deal at our sole discretion

Deal submission does not guarantee approval.

4. Deposit and Securing Structure

• Buyer must pay 50% of the item value upfront.
• Upon confirmation, Deallock deploys its capital to secure the item.
• The deposit constitute a binding commitment to complete payment.

5. Locking Period

• Standard Locking Period: 14 calendar days.
• Item remains in Deallock custody during this period.
• Item is released only after full payment confirmation.
• Extensions may be granted at Deallock's discretion and are subject to additional holding fees.

Failure to complete payment within 14 days constitutes deafault.

6. Fees & Charges

6.1 Service Role

DealLock acts as a bailee and procurement intermediary. We do not own the inventory listed by third-party sellers. Our service is limited to securing the asset on your behalf using our liquidity to bridge the time gap.

6.2 User Obligations

You agree to provide accurate item details and prompt payment. Once DealLock initiates a "Lock" on an item, you are legally bound to fulfill the remaining balance within the timeframe specified (the "Locking Period").

6.3 Limitation of Liability

DealLock is not responsible for: Product defects, shipping delays caused by the original seller, or misinformation provided by the third-party vendor. We provide no warranties, express or implied, regarding the items secured.

6.4 Refund After Resale

If the item is successfully resold, refund to the original buyer is calculated as:
Deposit Paid Minus:

• Accrued Holding Fees (3% per week
• 20% Resale Recovery Fee
• Applicable taxes
• processing charges

Refund processed within 7-14 business days after resale. If resale proceeds are insufficient to cover exposure and fees, deposit may be fully forfeited.

7. Risk Disclosure

Deallock is not liable for:

• Seller misconduct
• Product defects
• Shipping delays
• Warranty issues
• Customs complications
• Market price fluctuations

Maximum liability shall not exceed the amount paid for the specific transaction.

8. Data Protection

Buyer information is securely stored and used striclty for:

• Transaction processing.
• Identity verification..
• Fraud prevention.
• Regulatory compliance.

We do not sell personal data.

9. Governing law

This Agreement is governed by the laws of the Federal Republic of Nigeria.
Disputes shall be resolved by negotiation and, if unresolved, through arbitration in Nigeria.

Questions regarding these terms? Contact us at info@deallock.ng