In addition, when using any particular services, you may be subject to any posted guidelines, rules, product requirements or sometimes additional terms applicable to such services.
Further, the company reserves the right to suspend/cancel, or discontinue any or all channels, products or services at any time without any notice, make modifications and alterations in any or all of the content, products and services contained on the site without prior notice.
Your access or use of the site shall mean that you have read understood and agreed to be bound by the terms.
If you do not agree to the Terms, you are not authorized to use the site or services.
To register for the services, you may be required to open an account by completing the registration process (i.e. by providing us with the current, complete and accurate information as prompted by the applicable registration form).
You will also choose a password and a username. You are entirely responsible for maintaining the confidentiality of your password and account
To access the services, you will be asked to enter your individual username and password, as chosen by you during your registration. Therefore the company does not permit any of the following
By registering to use the cribstock Platform you are hereby categorized or known or referred to as a trader, who’s core activity is to buy or own or sell assets on the Platform.
Cribstock will not share or sell your personal data to other organizations for commercial purposes, except to provide products or services you’ve requested, when we have your permission, or under the following circumstances:
By successfully placing a sell order, you have agreed to transfer total ownership of the asset for a price to a new user who is also categorized here as the Buyer.
By successfully placing a buy order, you have agreed to receive a stock or stocks or assets of an entire real estate in exchange for a price consideration.
As a Trader, you hold every right to sell stocks higher or lower than the current general market trading price.
Stocks of Real estate shall be traded only on peer to peer basis on the Cribstock Platform.
Stocks of properties on this Platform are non fungible. They cannot be sent to fellow traders outside the Cribstock Platform but can only be traded in exchange for a price as peer to peer
Traders who own stocks of properties listed on cribstock.com have ownership rights which are limited to buying and selling those stocks on this platform.
Traders who are owners of a piece of stocks of the entire price of property known as property stock on cribstock.com have limitations in physical access to the property.
Traders cannot enforce any property right on the actual property which they own stocks of, with the exception of situations where one individual own all stocks in a certain property.
No trader can exercise full property ownership right or superiority on properties where stocks are owned by more than one individual.
A trader with less than 100% ownership of the entire stocks of a property does not have a right to take the property off the Cribstock trading platform.
Every trader reserves the basic right to verify the property they own or plan to own stock in and are obliged to sell or buy the stocks within the Cribstock Platform at their own discretion.
By owning stocks of properties on the platform you have agreed to allow us manage and maintain the property on your behalf for a fee to be paid to the management entity from the property’s rental income.
Although this option is not yet available, total revamp or renovation of property on the platform will take effect after a 80% approval voting from owners of stocks of a particular property;
Traders who are stock holders or owners are required to offset all debt incurred during the course of property renovation either when the new appraised stocks are sold or before sales. Debt can also be deducted from the new dividends over a period of time.
According to our property maintenance policy, there is no requirement for a vote in order to implement minor property maintenance such as painting, plumbing, sewage, electrical and other forms of repairs. However, every maintenance is reported for stock owners to view and be informed. All expenses incurred during this process are to be deducted from the rental revenue with accurate details of such costs, made available to all stock owners
Stock portfolios on this platform can be inherited by beneficiaries under a WILL or by operation of laws of inheritance.
Traders who wish to access this option are required to submit details of next of kin in the appropriate section provided
The Cribstock service is not intended for anyone under the age of 18, and we do not knowingly collect information from people under the age of 18.
People aged below 18 should not submit any personal information without the permission of their parents or guardians. By using the Cribstock service, you are representing that you are at least 18 years old, or that you have your parents’ or guardians’ permission to use the Service.
As a user on the platform, you shall earn dividends (whole or a fraction of rent) from owning stocks of a property which is determined by the market rental values of such property within a specific location.
All payments shall only be settled in the account number or payment details bearing the name or details you have submitted as your KYC information. To change the account you want your payments settled in, certain documentations may be required.
Dividends shall be paid to you as a property stock owner only when the property is leased out.
You shall receive payments in fiat or other available settlement options from the sale of stocks owned by you whenever you successfully sell them as peer to peer on the Cribstock platform.
Every Stockholder/user is awarded leverage by the company. There are three (3) Leverages available to Stockholders/ users.
The first leverage hereby described as "LEVERAGE 1(one) accrues to every new investor/user with less than one million naira in their investment portfolio.
LEVERAGE 1 (One) grants the investor/user a 24 hours’ liquidation timeframe on every 14th day within which the investor is allowed to sell their stock(s) worth N150,000 (one hundred and fifty thousand naira). This 14 days’ timeframe counts from the date which they qualify to be on leverage one. Also, the investor under leverage one can only withdraw not more than N150,000 (one hundred and fifty thousand naira) per day from their Cribstock wallet to their local bank account. The second leverage hereby described as LEVERAGE 2(two) accrues to every investor with up to one million naira and above in their investment portfolio.
LEVERAGE 2 (Two) grants the investor/user two liquidation dates every 14 days or one liquidation date every 7 days. The investor/user cannot sell more than N350, 000 (three hundred and fifty thousand naira) worth of stock in a day and cannot withdraw more than N350,000 (three hundred and fifty thousand naira) from their wallet within 24 hours. This 7 days’ timeframe counts from the date which they qualify to be on leverage two The third and final leverage here described as LEVERAGE 3 (three) accrues to investors/users holding over Five million in their investment portfolio.
LEVERAGE 3 (Three) grants the investor/ user two liquidation dates every week (1st and 4 th ) day of every 7 days). The investor/ user cannot sell more than N1, 000,000 (one million naira) worth of stocks/assets in a day and cannot withdraw more than N1, 000,000 (one million naira) in a day. This liquidation dates/ timeframe counts from the date which they qualified to be on leverage three
You understand and agree that the company provides the services on "as-is’ ‘with all fault’ and 'as available ' basis, you agree that use of the site or the services is at your own risk.
The information provided on this website does not constitute investment advice, financial advice, trading advice or any sort of advice and you should not treat any of the website's content as such.
Do conduct your own due diligence and consult your financial advisor before making any investment decision.
Do not disclose your password or recovery email or any unique information that may aid anyone the access to your cribstock account.
Do not make payments or transactions with anyone who may claim to be a Cribstock representative or support team as you shall be liable to any losses incurred during such transactions.
Cribstock will never contact you to request for your banking password or sensitive information such as your debit card or other details.
Any complaint, concerns or enquiry with regards to content or services of the company should be directed to the company via [email protected] or [email protected]