Terms of Use 

GENERAL

This agreement covers your investment with TH Farms. By this we seek to protect you, our investor and your investment. This also certifies that you have read and understood the FAQs provided on our website here, same are deemed to be incorporated by reference into this clause, and are in agreement with all the responses therein provided.

This agreement is binding on you (the investor) and TH Farms for the duration of our management of your investment. 

 

INVESTMENT CONDITIONS

This investment covers the number of acres or hectares you acquired at a sharing formula of 60% for you and 40% for TH Farms being the Farm Management Fee payable annually (subject to review from time to time). 

Under no circumstances should you (the investor) pay CASH to any of our agents/marketers. All payments should be made to the TH Farms bank account provided in the registration form or web portal.

TH Farms will also not make any cash payment to any investor. All investments proceeds will be paid directly to the investor’s bank account OR by Cheques as provided in the registration form/web portal.

 

STATUTORY CHARGES

A 40% statutory charge shall be applied to all investments to cover the cost of salaries for farm hands, insurance, legal fees, auditor’s fees, bank charges, agricultural produce taxes etc.

 

LIMITATION OF LIABILITY

TH Farms will not be liable to any investor that provides a wrong account number at the point of registration. We will also not be liable for the investors’ source of funds. That our financial obligation to you (the investor) covers only the amount paid to us through our bank or by cheques for your investment package of choice.

 

PURPOSE AND SCOPE

The purpose is to set forth the terms, conditions, scope, and responsibilities of the parties associated with the agricultural investment service offered by Th Farms and subscribed to by the Investor.



BACKGROUND


Th Farms sources funds from willing investors which is used to fund farm projects; the profits from these farms are shared between the Investors and Th Farms, with the Investor Paid Returns on Investments (Referred to hereafter as ROI). Both parties see the benefits of these investment services, and agree to bring their unique resources together for their mutual benefits.
Th Farms has unique expertise in cultivating and managing farm projects, post-harvest handling and sales of crops, whereas Investor has funds to invest into Th Farms Investment Service.


LEGAL AND REGULATORY INFORMATION


Th Farms is duly registered as Business Name under Part B of Companies and Allied Matters Act, 2004 as amended, with registration number BN 3593202 and Registered Office Address at 29 Tafawa Balewa Crescent, Surulere, Lagos, Nigeria. Th Farms is an agro-real estate company providing innovative platforms for wealth creation via food production. 



INVESTOR REPRESENTATIONS AND WARRANTIES


Representations and warranties are statements and promises made by you to the Company, which we rely on as being accurate in our dealings with you. You make the following representations and warranties to us at the time of agreeing to these Terms and every time you use the Platform or Services;

 

 

 

  1. You are over the age of 21 years;
  2. You are of sound mind and have the capacity to enter into these Terms and be matched to a farm;
  3. All personal information that you provide about yourself is accurate and true to the best of your knowledge;
  4. You hold a bank account in Nigeria in your own name and will use this account to transfer money to our account when you invest in a farm and to receive refunds of contributions made and profits earned;
  5. You have carefully considered the risks involved with using the Platform, the Services and being matched to a farm and also the risks associated with any form of cash contribution including but not limited to the possibility of losing your investment;
  6. You are capable to act on your own or on the behalf of a third party (“Third Party”) and we agree that you may act on behalf of that Third Party provided that this disclosure is made at the inception of your investment;
  7. You are not using any illegal funds or attempting to launder by investing in the farm and we can disclose your investment to appropriate and relevant regulatory and government agencies; if you are registering or accepting these Terms on behalf of a legal entity such as a Company, Trust or Partnership, you are legally authorized to do so and we may request evidence of such legal authorization (by way of a copy of any document which shows the valid and subsisting authorization); and
  8. You are not breaching any laws or regulations that are applicable to you or any Company, Trust or Partnership upon whose instructions you are acting.



FOREIGN EXCHANGE RISK


Where an Investor contributes in a currency other than the Naira, foreign exchange gain or loss and fluctuations in currency rates may have an impact on the profit made on such contribution by the Investor. All profits on contribution shall be converted and returned in Naira based on the Central Bank of Nigeria (CBN) official exchange rate. The Investor who therefore enters into any transactions in currencies other than the Naira stands at risk solely and shall bear all responsibilities for any gains or loss as a result. Unexpected changes in currency exchange market conditions may have an impact on the extent of profit the Investor would be exposed to, such as when there is an upward or downward movement in the relevant rates. 

 

The Investor understands and is able to assume the risk of loss associated and agrees to be liable for any resulting deficit this might have on contributions made or profits earned.


TERMS AND ACONDTIONS


It is mutually understood and agreed by and between Th Farms and Investor that:
1. Th Farms shall pay the Investor his initial capital and the accrued ROI at the end of the investment duration for each chosen farm project.

  1. The ROI for the Dew of Heaven Palm Estate is 60% depending on the rate of harvest and price of sales. And the ROI is not negotiable. 
  2. In the case of crop failure or any other mishaps, the engaged Insurance Company will indemnify TH Farms to the tune of the crop planted while TH Farms will take the responsibility of replanting the crop for the Investor. There is no refund of money. 
  3. For Institutional Investors, each Party takes legal and financial responsibility for the actions of its respective employees, officers, agents, representatives and volunteers.
  4. TH Farms shall subscribe to an insurance cover to cover the entire farm.
  5. This Terms may be amended from time to time.
  6. This agreement may be terminated by mutual agreement of the Parties and shall automatically terminate upon completion of all responsibilities as stated herein, unless otherwise amended.
  7. A Party wishing to terminate its responsibilities in this agreement may do so by given the other party (3) three months advance notice, provided that the said termination will not be effective until the scheduled activities over the project between the parties have been concluded.

 

This agreement does not create a partnership or master/servant relationship between TH Farms and the Investor.



RESPONSIBILITIES

  1. Source for suitable arable lands for cultivation.
  2. Carry out farm operations that include cultivation of crops.
  3. Carry out post-harvest processing of crops cultivated at harvest.
  4. Provide bi-weekly progress reports to Investor on farm project; and on the request of Investor, arrange a guided visit to farm location at the investor’s expense.
  5. Sell produce to off takers or as finished product.
  6. Pay back Investor his/her ROI commensurate to the Farm Project Selected by the Investor on the Th Farms website. 


Investor shall undertake the following activities:

  1. Select desirable farm projects, read and understand its terms, investment duration and ROI’s
  2. Fund selected Farm Projects
  3. Pay for guided farm visits if he/she so desires.
  4. Provide payment instruction for payment of ROI.



DISPUTE RESOLUTION CLAUSE

  1. In the event of a dispute arising out of or in connection with this agreement including any question regarding its existence, validity or termination, the parties shall first seek settlement of that dispute by negotiation. 
  2. If the dispute is not settled by negotiation within 30 days, the dispute shall be referred to and finally resolved by mediation at the Lagos Multi-Door Courthouse whose Rules are deemed to be incorporated by reference into this clause.
  3. The language to be used in the negotiation and in the mediation shall be English and the governing law of this agreement shall be the substantive law of Nigeria.