Terms of Service

Last Updated: December 31, 2025

Welcome to Owode, a digital commerce marketplace operated by Owode Commerce Ltd.

These Terms of Service (“Terms”) govern your access to and use of the Owode platform, including our website, services, tools, and marketplace features. By accessing or using Owode, you agree to be bound by these Terms.

If you do not agree, please do not use the platform.

1. About Owode

Owode is an online marketplace that enables independent sellers to offer digital products and services to buyers. Owode does not own, create, or control seller products unless explicitly stated.

Owode Commerce Ltd operates independently, with its own branding and platform governance.

2. Eligibility

To use Owode, you must:

• Be at least 18 years old
• Provide accurate and complete account information
• Verify your email address during registration

We reserve the right to suspend or terminate accounts that violate these Terms.

3. User Accounts

You are responsible for:

• Maintaining the confidentiality of your login details
• All activities conducted under your account
• Ensuring information provided is accurate and up to date

Owode is not liable for losses arising from unauthorized account access due to user negligence.

4. Seller Accounts & Stores

Sellers on Owode:

• Are approved automatically upon registration
• Are responsible for their store content, products, pricing, and fulfillment
• Must ensure products comply with applicable laws and Owode policies

Owode reserves the right to review, suspend, or remove seller stores that violate platform rules or harm users.

5. Products & Listings

Sellers must ensure that:

• Product descriptions are accurate and not misleading
• Digital products are deliverable as described
• They hold the rights to sell listed products

Owode does not guarantee the quality, legality, or performance of seller products. 

6. Orders, Payments, Fees & Payouts

This section explains how payments, fees, commissions, and withdrawals work on Owode in a clear and transparent way.

6.1 Payments & Order Completion

• Payments on Owode are processed securely through our supported payment systems.
• Once a buyer completes payment and an order is marked as completed, the sale is recorded as successful on the platform.
• Buyers are charged only the listed product price. All marketplace and processing fees are deducted from the seller’s payout, not from the buyer.

6.2 Marketplace Commission

• Owode charges a 5% marketplace commission on every completed order.
• This commission covers platform operations, marketplace maintenance, infrastructure, and seller support.
• The commission is automatically deducted before seller payouts are calculated.

6.3 Payment Processing Fee

• A payment processing fee of 1.6% plus ₦150 is applied to each transaction and deducted from the seller’s payout.
• This fee represents third-party payment processing and settlement costs required to securely collect and move funds.

6.4 Withdrawal Fees

• Owode currently absorbs the ₦100 transfer fee on seller withdrawals to support early sellers.
• This means sellers pay ₦0 in withdrawal charges at this time.
• Owode reserves the right to review this support in the future, with notice provided if changes occur.

6.5 Minimum Withdrawal Threshold

• The minimum balance required to request a withdrawal is ₦200.
• Earnings below this amount will remain in the seller’s balance until the minimum threshold is reached.

6.6 Payout Eligibility & Maturity Period

• To ensure reliable and successful payouts, seller earnings are subject to a short settlement period.
• All completed orders must undergo a minimum 1-day maturity period before becoming eligible for withdrawal.
• This allows time for payment settlement and confirmation before funds can be released.
• Once an order has matured and all payout conditions are met, the seller may request a withdrawal.

6.7 Withdrawal Processing & Timing

• Withdrawals on Owode are currently processed manually.

– Approved withdrawal requests are typically processed on the same day they are requested, once funds are available.

– Withdrawals are processed only on working days.

• Payments are not processed on weekends or public holidays.
• If a withdrawal request falls on a weekend or public holiday, it will be processed on the next available working day.
• This ensures accurate settlement and prevents failed or delayed payouts.

6.8 Seller Responsibility

• Sellers are responsible for ensuring the accuracy of their product pricing, descriptions, and delivery expectations.
• Owode is not liable for disputes arising from product expectations, descriptions, or pricing set by sellers.

7. Digital Product Delivery

Digital products are delivered automatically after successful payment. Buyers are responsible for:

• Downloading products within any stated access limits
• Keeping their account secure

Download access is tied to the buyer’s account.

8. Refunds & Disputes

Refunds are subject to:

• Seller refund policies
• Owode’s dispute resolution rules
• The nature of the digital product

Owode may intervene in disputes but does not guarantee outcomes.

9. Prohibited Activities

Users may not:

• Engage in fraud or deceptive practices
• Upload malicious or illegal content
• Attempt to bypass platform systems
• Abuse sellers, buyers, or staff

Violations may result in suspension or termination without notice.

10. Intellectual Property

All Owode branding, design, and platform content belong to Owode Commerce Ltd.
Sellers retain rights to their own content but grant Owode a license to display it on the platform.

11. Platform Availability

Owode strives for uptime but does not guarantee uninterrupted service. Maintenance, updates, or technical issues may occur.

12. Limitation of Liability

Owode is not liable for:

• Seller product quality or outcomes
• Losses arising from platform use
• Indirect or consequential damages

Use of the platform is at your own risk.

13. Changes to Terms

Owode may update these Terms at any time. Continued use of the platform constitutes acceptance of updated Terms.

14. Contact Information

For questions regarding these Terms, contact us via the Support page.