Term & Conditons

    KOOLBOKS INSTALLMENTAL PURCHASE AGREEMENT


     

    The Payment Agreement outlines the terms and conditions for purchasing goods or services from KOOLBOKS LIMITED with RC Number 1656088 and whose operating corporate office is at 28A Adeola Raji Avenue, Atunrase Estate, Gbagada, Lagos, Nigeria (Hereinafter referred to as “Koolboks”).. By accepting, customers agree to these terms across Koolboks’ physical stores, websites, and associated platforms. The Agreement incorporates other policies, including the Terms of Use, Privacy/Cookie Policy, Proprietary Rights Infringement Reporting Procedures, and Terms of Service, forming a complete Agreement. It recommends users print a copy for their records and notes that headings are for reference only.


     

    1. Parties to the Agreement

    This is a contract between the customer ("you") and Koolboks ("we"). It governs the purchase of goods or services from Koolboks, whether paid outright or through an installment plan. Accepting the Terms and Conditions signifies agreement to this contract.

    2. Warranty

    Koolboks guarantees that the items are of good quality and conform to industry standards for like items. Defects arising from poor handling, tampering or usage by the customer shall not be entertained by Koolboks.

    The warranty period is as stated below:

    Freezer:

    Freezer Cabinet, Compressor and Compressor ECU only- 1 year

     

    Batteries:

    Lead Acids (Tubular or Gel)-1 Year Pedestals- 3 years

    Controllers- 24 months

    Adaptors- 1 year

    Distilled Water- 6 months

     

    Warranty Coverage:

    The warranty for the freezer extends to the following issues:

    1. Internal leakage within the freezer

    2. Poor cooling performance

    3. Complete lack of cooling

    4. Non-operational status

    5. Power failure issues

    6. Malfunctioning inner light

     


     

    Exclusions from Warranty Claims:

    Please be aware that the warranty does not cover the following:

    1. Freezer accessories

     

    1. Physical damage to the freezer

    2. Dents not identified at the time of delivery

    3. Physical damage to pipes

    4. Damage to wheels

    5. Issues resulting from improper or incorrect usage of the item

    3. Price

    Price of the item(s) is as stated on the invoice issued by Koolboks to the Customer.

    All legally chargeable taxes, such as Value Added Tax (VAT), shall be borne solely by the Customer and such taxes shall be indicated on the invoice issued by Koolboks for the item(s).

     

    4. Our Relationship

    By placing an order with us using the Installment Plan feature, you agree to pay to us, in accordance with this Agreement, the agreed amounts on the dates outlined in your Installment Payment Schedule, plus any additional applicable Late Fees as contained in our Payment Terms, Terms of Use and relevant part of this Agreement.

    5. Ownership and Installment Purchase Terms

    The Customer agrees that the purchase of the freezer is an installment purchase. The ownership of the freezer remains with Koolboks until the full payment of the total purchase price has been made. In the event that the Customer fails to complete the installment payments as agreed, Koolboks retains the right to retrieve the freezer. The Customer acknowledges that until the full payment is made, the freezer is considered the property of Koolboks and must be maintained in good condition. Koolboks shall have the right to enter the Customer’s premises to repossess the freezer if the Customer defaults on the installment payments.

     

    6. Aftersales Support

    Koolboks shall provide aftersales support for the Products purchased by the Customer. The Products shall be covered by warranty as provided for under the warranty clause from the date of purchase, during which any defects arising from manufacturing faults shall be repaired or replaced at no additional cost to the Customer. To ensure your complaints are promptly attended to and processed to the requisite department, kindly reach out to our Customer Service by contacting:

    Phone number: 07002252252 or 02013300108

    E-mail: support@koolboks.com


     


     


     

    7. Amendments to the Agreement

    Koolboks may update the Agreement periodically. Customers are responsible for reviewing any changes on the website. Material changes will be communicated, but continued use of the service signifies acceptance. Existing orders will remain governed by the terms effective at the time of order approval. Customers are advised to save a copy of the Agreement for reference.

    8. Transfers or Assignments

    Customers cannot transfer their rights under this Agreement without Koolboks’ written consent. However, Koolboks may assign its rights or involve third-party collection agencies without notice or consent. Complaints or issues with orders or installment plans should be directed to Koolboks directly.

    9. Pick-up or Delivery Terms

      1. The Customer undertakes that all relevant documents as stated in the Purchase Application form shall be duly filled, signed, and submitted.

      2. The Cost of delivery shall be borne by the Customer and is non-refundable. The Customer shall be entitled to pick-up the item(s) from a designated outlet of Koolboks. Where the Customer requires the item(s) to be delivered at their location, Koolboks shall arrange for such delivery, and this shall be done at the Customer’s expense.

     

    10. Payment Terms

    1. Payment shall be made to a designated bank account as stated on the invoice issued by Koolboks to the Customer.

    2. Payment shall either be made via third-party services.

    3. Customer acknowledges and agrees that the customer signature shall be used to initiate a direct debit mandate request for the item.

    4. Payment shall be either outright purchase, which is a one-time payment, or Payment shall be in installments.

    5. Where payment is in installments, the Customer undertakes to sign a Debit Order which shall authorize debits on the Customer’s account. Customer shall provide a One Time Password (OTP) and Bank Verification Number (BVN) to the Company for verification by the Company’s third-party service providers.

    6. Customer approves that the Company’s third-party service providers shall verify bank accounts linked to the BVN provided and shall initiate direct debits on an account for an amount not exceeding the agreed monthly repayment sum.

    7. The said Debit Order shall be a mandate to the bank to debit the Customer’s account by a specified sum, monthly, and credit same to Koolboks account, until the full price of the purchased item(s) is paid.

    8. The mandate to debit through the third-party service providers shall debit any and all accounts linked to the customers BVN until completion of the specified sum as per the payment schedule.

    9. This shall be in accordance with the number of installments, and the monthly installment price indicated on the invoice issued by Koolboks to the Customer.

    10. The Customer undertakes to ensure that its account on the Debit Order is adequately funded monthly in order to give effect to the Debit Order thereby avoiding a default and breach of this Agreement.

    11. Eligibility Requirements

    Customers must meet Koolboks’ KYC and creditworthiness criteria to use the Installment Payment Plan. Ineligibility voids registration or use of the service.

    12. Dispute Resolution on Installment Plan Feature

    Disputes regarding the Installment Plan must be resolved through binding arbitration, waiving the right to court action except for small claims. Claims cannot be brought as class actions.

    13. Payment Plan Description

    Customers can reserve products with a downpayment, followed by installments over a set period. Orders are not confirmed until the downpayment is made. Products are delivered per the Terms and Conditions, subject to compliance. Customers must ensure funds are available for payments; failure to pay may result in Koolboks debiting accounts linked to the customer’s BVN or restricting access to the Installment Payment feature.

    14. Late Payment Charge

    If the Customer fails to make any payment by the due date for payment, a late payment fee of 2.5% of the overdue amount shall be charged by Koolboks.

    15. Paygo Device Installation

    The Paygo device is used for tracking and must be inputed or attached to the product upon installation. If the Paygo is not on the product as at when it is delivered, it shall be installed at the customer’s location. The Customer shall not resist the Paygo installation by any employee of Koolboks. Where a customer refuses the Paygo installation Koolboks shall have the right to repossess the product.

    16. User Obligations Under Koolboks Services

    Users must adhere to the installment payment schedule. Users must provide true and accurate information and not misrepresent their identity. Users must keep bank account details up-to-date and inform Koolboks of any changes. Failure to pay as scheduled permits Koolboks to deactivate the KoolpayGo device, repossess items, and terminate the agreement without liability.

    17. Prohibited Uses of the Installment Feature

    The Installment Payment feature must not be used for illegal or fraudulent purposes. Users must report unauthorized transactions, account takeovers, or security breaches immediately. Users must not engage in activities involving the Installment Payment feature that violate any applicable laws, regulations, or agreements with Koolboks. Users must not provide false, misleading, or third-party information to Koolboks. Users must not use unauthorized bank accounts or details. Users must not deploy harmful software, viruses, or tools to interfere with Koolboks' systems. Users must not violate agreements or policies with Koolbok or its affiliates. Users must not misuse the Installment Payment feature for cash advances or overloading Koolboks’ infrastructure (e.g., denial-of-service attacks or spam). Users must not engage in unauthorized access or misuse of Koolboks’ systems and information.


     

    18. Default

    Where the Customer commits an act of default, Koolboks shall:

      1. Contact the Customer and to notify the Customer of the default.

      2. Immediately Discontinue supply of cooling services by deactivating the Kool PayGo device.

      3. Contact the Customer to Claim reasonable payment from the Customer for any damage, liability or loss incurred and caused by the Customer to remedy the default within a given time frame no more than (60) Sixty days and

      4. Where this fails, immediately enter the Customer’s premises to repossess the item(s).

      5. Void any previous installment paid by the Customer and any previous payment shall be deemed service charge for the period of usage of the item(s).

      6. Retrieve the unimpaired item(s) from the Customer and all its components.

      7. Obtain any legal remedy available.

     

    19. Termination

    Koolboks reserves the right to terminate this Agreement at any given time, with or without cause. Where such termination occurs, Koolboks shall make a refund of all refundable amounts and shall retrieve the product. Koolboks shall not be liable to the customer for any damages incurred upon termination of this agreement.

    20. Installation Compliance

    1. Installation Deadline

    The Customer agrees to complete the installation of the purchased product within seven (7) calendar days from the date of purchase. The Customer is required to schedule and facilitate access for the installation within this period. Costs of Installation shall be solely borne by the Customer and is non-refundable.


     

    1. Customer Obligations

    The Customer must ensure availability and readiness for the installation process within the stipulated timeframe. Failure to comply with the installation deadline may result in additional fees, delays in service activation, or other consequences as outlined in this agreement.


     

    1. Right of Repossession

    If the Customer fails to complete the installation within the stipulated 7-day period and does not provide a valid reason for the delay, the Company reserves the right to reclaim the product from the Customer's premises. Koolboks shall provide a 48hours notice before initiating the product reclamation process. Repossession of the product may result in the termination of the purchase agreement, and any payments made by the Customer may be subject to a non-refundable administrative or handling fees.


     

    1. Reinstatement of Agreement

    Should the Customer wish to reinstate the purchase agreement following repossession, a new agreement may be required, and the Customer may be subject to reinstatement fees or additional terms and conditions.


     


     


     

    1. Force Majeure

    If delays in installation are caused by unforeseen events beyond the Customer’s control (e.g., natural disasters, illness, etc.), the Customer must notify the Company as soon as possible to request an extension of the installation deadline.

    22. Product Repossession

    Koolboks shall retrieve or repossess the product based on the following:

    1. Upon failure to reach a customer after three attempts by the Customer Relationship Officer (CRO) or any maintenance officer scheduled for a visit.

    2. Upon Failure by customer to make payment after sixty (60) days.

    3. If the Customer is unreachable or ignoring calls from our collections agent

    4. Upon discovery that customer has provided an incomplete or incorrect address.

     

    THE PRODUCT IS THE PROPERTY OF KOOLBOKS UNTIL THE CUSTOMER'S PAYMENT IS COMPLETED. ANY FAILURE BY THE CUSTOMER TO MEET THE OBLIGATIONS WILL LEAD TO REPOSSESSION

    23. Retrieval Rights after Failed Direct Debits

    Upon failure to directly debit the Customer’s account twice and both attempts fail, Koolboks shall have the right to retrieve the freezer. The Customers agrees to allow Koolboks, its agents and representatives access to the premises where the freezer is located for the purpose of retrieving the freezer.

     

    24. Product Returns Policy

    Product returns policy and conditions:

    1. If the item(s) remains unopened with the carton intact, the charge for retrieval will be applied along with accrued interest.

    2. In the event that a customer loses interest one month after usage and installation, Koolboks will deduct the cost of installation and uninstallation, the delivery charges retrieval fees and 20% of the customer’s down payment.

    3. If a customer decides to return the product within two (2) to six (6) months after installation, Koolboks will retain 100% of the amount paid, No refunds will be issued for returns within this period.

    4. In the unfortunate event of a proven death or permanent disability to the client the customers personal representatives may return the product and the outstanding instalments shall be waived.

    5. In the event of fire or theft of the item(s) the customer shall be liable to pay the full total sum due.

     

    25. Transaction Information

    ALL SALES AND DELIVERED SERVICES ARE FINAL, NONTRANSFERABLE, AND NOT ELIGIBLE FOR REFUNDS, EXCHANGES, RESALE, OR CASH REDEMPTION. All inquiries about payments or installment plans should be directed to Koolboks at: Koolboks, 28A, Adeola Raji Avenue, Atunrase Estate, Gbagada, Lagos. Phone: 02013300108; 070022552252.

    E-mail: support@koolboks.com


     

    26. Disclaimer of Warranty

    Koolboks’ services are provided “as is” and “as available” without any guarantees of security, uninterrupted availability, error-free functionality, or suitability for user requirements. Koolboks disclaims liability for service connectivity, availability, or defects and does not ensure the correction of such defects. Koolboks and its third-party processors are not liable for issues related to their services or connections. If any term is deemed invalid or unenforceable, it will be modified to ensure enforceability without affecting the rest of the agreement.

    27. Limitation of Damages

    Koolboks, its subsidiaries, partners, and affiliates are not liable for personal injury or indirect, incidental, consequential, special, or exemplary damages arising from the use or inability to use Koolboks services, including the Installment Payment feature. This applies even if there are issues with the accuracy of provided information or third-party verification failures. The maximum liability of Koolboks and related entities for any claims related to this Agreement will not exceed the greater of: The amount of the affected order(s), or N20,000 (Twenty Thousand Naira). Koolbuy is not liable for any damages arising from services provided by third-party processors.

    28. Indemnification

    Customers agree to indemnify and hold Koolboks and its affiliates harmless from any losses, costs, or liabilities related to: Inability to use Koolboks’ site or services, Discontinuation of the Installment Payment Plan, Violation of the Agreement or payment defaults, or Breach of third-party rights, including misconduct or contract breaches by the customer or their agents. Customers will also cover any legal fees or expenses incurred in defending against such claims including your violation of any applicable laws, rules or regulations; failure to provide and maintain true, accurate, current and complete information in your KYC form, including but not limited to information regarding your Payment Method. Notwithstanding the foregoing, Koolboks further reserves the sole and exclusive right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and you shall fully cooperate with Koolboks in asserting any available defenses.

    29. Third Party Services

    Company engages the use of third-party services in providing the items to the Customer. Customer hereby acknowledges and agrees that Customer shall provide certain information, including information about identity, finances, and business performance. Upon Customer signing this Purchase Agreement and providing customer’s signature, Customer agrees that the Company shall have the liberty to provide all information as necessary to third parties. Customer shall be requested for a One Time Passcode (OTP) which shall authorize direct debits on Customer account, whether or not notified by the Bank, such debit shall not exceed the repayment amount required of the Customer.

     

    Customer agrees that the Company shall not be liable for any faults arising from its third parties in providing the items to the Customer.

     

    30. Notices

    All notices required pursuant to this Agreement shall be in writing and may be given or made

     

    by hand, by registered post, or email addressed to the other party as follows:

    To: KOOLBOKS LIMITED

    Address: 28A, Adeola Raji Avenue, Atunrase Estate, Gbagada, Lagos.

    Attention: Temitope Ajose

    E-mail address: legal@koolboks.fr

    31. Dispute Resolution

    Any dispute arising under this Agreement shall be resolved amicably in good faith at first instance between the parties through negotiations for a period of 30 days upon issuing a notice. If negotiation is unsuccessful, Parties shall recourse to arbitration through one of the doors in the Lagos State Multidoor Court House in accordance with the Arbitration and Mediation Act 2023. Where arbitration fails, Parties shall seek redress in a court of competent jurisdiction in Lagos State.

     

    32. Miscellaneous Clause

    The agreement encompasses the entire understanding between Koolboks and the user concerning the site and services, including the Installment Payment Plan. FAQs are for informational purposes and not part of the agreement. The terms of the agreement remain effective even after the termination of the user’s access to the site or services. Koolboks’ failure to enforce any right or provision does not constitute a waiver of that right or provision. If any clause is found invalid, the rest of the agreement remains enforceable. Users can terminate the agreement by deleting their account and settling all outstanding obligations. Koolboks can immediately terminate the user’s privileges without notice if they breach any part of the agreement.

    33. Governing Law

    This Agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.