Our Terms

These Terms and Conditions ('Agreement') govern your access and use of the Sendam platform (the 'Platform'), which enables users to co-own physical gym equipment and lease it to gyms via Sendam's operational management. By using the Platform, you agree to the following terms:

1. USER ELIGIBILITY

1.1 You must be at least 18 years of age and have full legal capacity to enter into a binding agreement.

1.2 By registering on the Platform, you confirm that the information provided is accurate and up to date.

2. EQUIPMENT CO-OWNERSHIP

2.1 Upon completing payment through the Platform, you will become a co-owner of selected gym equipment.

2.2 Ownership is recorded digitally and legally documented through a co-ownership agreement made available to you.

2.3 The equipment will be tagged and tracked by Sendam on your behalf.

3. LEASE ARRANGEMENT

3.1 All equipment is leased to qualified gym partners vetted by Sendam.

3.2 You authorize Sendam to act as your lease and asset manager.

3.3 Lease payments are calculated monthly and paid out to co-owners after deducting maintenance and platform service fees.

4. PAYOUTS

4.1 Payouts are based on lease revenue and calculated as a fixed usage rate (e.g., 2.5% of the equipment purchase amount).

4.2 Payouts are made monthly and reflected in your account dashboard.

4.3 Delays may occur in case of operational interruptions, gym defaults, or maintenance-related downtime.

5. SELL-OFF OPTION

5.1 You may request to sell off your equipment share at its current depreciated value.

5.2 Requests are processed within 7 business days subject to current market and usage assessments.

6. USER OBLIGATIONS

6.1 You agree not to misuse the platform, interfere with other users, or attempt to manipulate payouts or data.

6.2 You are responsible for safeguarding your login credentials and platform account.

7. PLATFORM OBLIGATIONS

7.1 Sendam will ensure transparency, accurate reporting, and diligent management of all leased assets.

7.2 Sendam will maintain insurance coverage and conduct scheduled equipment maintenance.

8. LIMITATION OF LIABILITY

8.1 Sendam is not liable for delays or reduced payouts caused by gym partner defaults, economic downturns, or natural disasters.

8.2 Maximum liability shall not exceed the amount paid by the user for the equipment in question.

9. TERMINATION

9.1 Sendam reserves the right to terminate user accounts found to be in breach of these terms.

9.2 Users may terminate their relationship with Sendam by completing a sell-off or equipment exit process.

10. GOVERNING LAW

10.1 This Agreement is governed by the laws of the Federal Republic of Nigeria.

10.2 Any disputes shall be resolved amicably or submitted to arbitration in Lagos State.

11. ACCEPTANCE

11.1 By clicking 'Agree' on the platform or continuing to use the service, you acknowledge that you have read, understood, and accepted these Terms and Conditions.