Terms and Conditions for Veathari Ventures Uganda Limited

Effective Date: 31/10/2024

These Terms and Conditions ("Terms") govern the access and use of Veathari Ventures Uganda Limited’s platform, which connects project owners with qualified service providers for construction and real estate services. By using our platform, you agree to these Terms. If you do not agree, please refrain from using our services.

1. Definitions

"Veathari" refers to Veathari Ventures Uganda Limited, the company providing the construction marketplace platform.

"Project Owners" (Clients) refers to individuals or businesses looking to hire service providers for construction or real estate projects.

"Service Providers" (Professionals) refers to construction-related professionals or companies who register on Veathari’s platform to offer their services.

"Platform" refers to the website and online tools provided by Veathari for project owners and service providers.


2. Scope of Service

Veathari provides a marketplace platform for project owners to connect with verified and qualified service providers.

Veathari also offers real estate services, including house sales on mortgages, which are facilitated or initiated online.

Project owners can use the platform to request quotes, share project details, and connect with service providers.

Service providers create profiles, upload portfolios, and may receive leads for projects, paying a 20% commission for projects quoted by customers and connected through the Veathari online platform. 


3. Responsibilities of Project Owners (Clients)

Project Details: Clients must provide accurate and complete project information, including scope, location, timeline, budget and any other necessary details.

Communication: Once connected with service providers, clients are responsible for responding to inquiries and making decisions about engaging their services.

Payment for Services: Clients are responsible for directly negotiating and paying service providers for services rendered. Veathari is not a party to these contracts and is not responsible for the performance or outcomes of the work.

Liability: Veathari does not guarantee the success of the projects and will not be held responsible for any issues or disputes arising from the work done by service providers.


4. Responsibilities of Service Providers (Professionals)

Registration and Profile Creation: Service providers must register on the platform and create a profile that accurately represents their qualifications, skills, and previous work.

Portfolio: Service providers can upload portfolios to showcase their past projects, helping them stand out and attract clients.

Commission: For each lead provided by Veathari, service providers are required to pay a 20% commission for projects quoted by customers and connected through the Veathari online platform. This commission is for the introduction of leads and is non-refundable, regardless of whether the provider secures the job.

Client Pursuit: Veathari does not guarantee that service providers will be hired by clients. It is the responsibility of the provider to follow up, pursue, and secure the project.

Work Quality: Service providers are fully responsible for the quality of work and the fulfillment of any contractual obligations made with clients.


5. Real Estate Development and Mortgages

Property Listings: Veathari facilitates the sale of properties on mortgages through the platform. All information regarding these properties is provided on an “as-is” basis, and Veathari is not responsible for any discrepancies or misunderstandings.

Mortgage Terms and Conditions for Veathari Ventures Clients

Eligibility:
Veathari Ventures offers flexible mortgage plans to eligible clients. Women benefit from an annual interest rate of 15%, while other clients are offered a rate of 17.5% per annum.

All clients must meet the eligibility criteria established by Veathari Ventures.

Mortgage Provision:
Veathari Ventures acts as the direct mortgage provider, offering financing to clients for purchasing properties.

Property Purchase:
Clients are required to select properties approved by Veathari Ventures for mortgage financing. All properties must meet Veathari's internal valuation standards.

Loan Tenure:
Mortgage loans provided by Veathari Ventures are subject to repayment periods ranging from 10 to 30 years, depending on the client's financial profile and the specific mortgage package chosen.

Down Payment:
Clients are typically required to make a down payment, which is usually between 10% and 30% of the property value, depending on the loan package.

Repayment Terms:
Clients agree to repay the mortgage in monthly installments, as stipulated by Veathari Ventures. Early repayment or late payment penalties may apply as per Veathari’s terms.

Property Ownership:
Ownership of the property remains with Veathari Ventures until the client has completed repayment of the mortgage in full. Upon full payment, ownership is transferred to the client.

Insurance:
Clients may be required to maintain adequate home and mortgage protection insurance throughout the loan period, as per Veathari’s requirements.

Default and Foreclosure:
In the event of default, Veathari Ventures retains the right to initiate foreclosure proceedings as per the legal provisions of Uganda’s mortgage laws and Veathari’s policies.

Legal Compliance:
All mortgage agreements are subject to Ugandan law and the regulations governing financial services in the country.

6. Commissions and Fees

Service Providers: Service providers are required to pay aa 20% commission for projects quoted by customers and connected through the Veathari online platform which is payable once the lead is generated, regardless of whether the provider secures the project.

Non-Refundable: Commissions are non-refundable and payable even if the service provider fails to secure the project.


7. Limitation of Liability

Platform: Veathari provides a platform for project owners and service providers to connect but is not involved in the contracts or execution of work between these parties. Therefore, Veathari disclaims any liability for disputes, claims, or damages arising from these agreements.

Third-Party Services: Veathari is not responsible for third-party service providers (e.g., payment processors, mortgage lenders) that you may engage with via our platform.

No Guarantee: Veathari makes no guarantees regarding the availability, quality, or suitability of service providers or the outcome of any project.


8. User Conduct

All users (both project owners and service providers) agree to:

Provide accurate, current, and complete information.

Not use the platform for any unlawful purposes or in violation of any laws or regulations.

Not upload or transmit any harmful content, such as viruses or malware.

Maintain the confidentiality of your account credentials.


9. Intellectual Property

All content provided on the Veathari platform, including logos, text, images, and other materials, are the intellectual property of Veathari Ventures Uganda Limited and are protected by applicable copyright and trademark laws. You may not use, reproduce, or distribute this content without written permission from Veathari.

10. Data Privacy

Veathari respects your privacy and handles personal data in accordance with its Privacy Policy, which can be found on our website. By using the platform, you consent to the collection and use of your personal information as outlined in the Privacy Policy.

11. Termination and Suspension

Veathari reserves the right to suspend or terminate your access to the platform at any time, without notice, if you violate these Terms or engage in behavior that could harm the platform, its users, or Veathari’s reputation.

If your account is terminated, you will still be responsible for any outstanding commissions or fees.


12. Dispute Resolution

Between Users: Any disputes between project owners and service providers must be resolved between the respective parties. Veathari does not mediate these disputes.

With Veathari: Any disputes regarding these Terms or your use of the platform will be governed by the laws of Uganda, and any legal proceedings must be filed in courts within Uganda.


13. Modifications to Terms

Veathari Ventures Uganda Limited reserves the right to modify or update these Terms at any time. Any changes will be posted on the platform, and continued use of the platform after such updates constitutes your acceptance of the new Terms.

14. Contact Information

For any questions or concerns regarding these Terms, please contact us at:

Email: support@veathariug.com
Phone: +256 7756959

Address: plot 1292, Matayo Close, Kisasi,  Kulambiro.