1. Acceptance of Terms

By signing up or using LokPay, you agree to be bound by these Terms and Conditions. If you disagree with any part of these terms, do not use the platform.

2. User Eligibility

You must be at least 18 years old. LokPay may request identity verification when necessary for fraud prevention or regulatory compliance.

3. Escrow & Transaction Terms

Payments made through LokPay are held securely in escrow until the buyer confirms satisfaction with the product or service. Once released, payments cannot be reversed.

All escrow actions (release, refund, dispute) are automated based on user triggers. LokPay cannot override a trigger unless required by law, regulatory demand, or to prevent fraud.

4. Seller Responsibilities

Sellers must accurately describe their products or services. Misrepresentation, refusal to cooperate during disputes, or repeated complaints may lead to account suspension.

Sellers are solely responsible for product availability, authenticity, quality, and fulfillment.

5. Fees & Non-Refundable Charges

Buyer Protection fees, transaction fees, and service fees are charged at the moment a transaction begins. These fees are non-refundable as they cover payment processing, fraud prevention, and escrow services already provided.

LokPay may update its fee structure at any time. New fees apply immediately to new transactions.

6. Refunds & Disputes

If a seller confirms an item is unavailable, the buyer will be refunded the product amount only. Service fees are non-refundable.

Refunds are processed automatically and may take up to 48 hours depending on bank processing times.

LokPay may request evidence such as photos, videos, receipts, or communication logs to resolve disputes. Failure to provide evidence invalidates the dispute.

7. Account Suspension & Investigations

LokPay reserves the right to freeze or suspend any account suspected of fraud, chargeback abuse, money laundering, identity manipulation, or violation of these terms.

Funds in suspended accounts may be temporarily withheld pending investigation.

8. Limitation of Liability

LokPay acts solely as a neutral escrow facilitator. We do not verify or guarantee any product or service sold on the platform.

LokPay is not liable for indirect losses, lost profits, emotional damages, business losses, or product-related issues. Our maximum liability is strictly limited to the amount held in escrow for the disputed transaction.

9. Disclaimer & Risk Notice

• The platform is provided “as is” and “as available”.
• LokPay does not guarantee seller honesty or product quality.
• Users assume all risks associated with online transactions.
• LokPay is indemnified from liabilities beyond escrowed funds.
• All disputes are governed by Nigerian law with arbitration in Lagos State.

10. Withdrawals

Withdrawals are automated once initiated by the user. Banks may take up to 48 hours to process transfers. LokPay is not responsible for delays caused by banks or payment processors.

11. Bank Account Details

All refunds and withdrawals will be paid to the bank account provided by the user. Incorrect account details may lead to failed transactions. LokPay is not responsible for losses caused by inaccurate information supplied by a user.

Changing your bank account requires identity verification.

12. Changes to Terms

LokPay may update these Terms at any time. Continued use of the platform after changes means you accept the revised Terms. Last updated: December 14, 2025.