Terms and Conditions

Last Updated: January 7, 2026

1. Acceptance of Terms

By accessing and using StockIt ("the Platform"), you accept and agree to be bound by these Terms and Conditions. If you do not agree to these terms, you must not use the Platform.

StockIt is a B2B procurement platform designed for schools and vendors. These terms apply to all users, including schools, vendors, administrators, and any other parties accessing the Platform.

2. Definitions

  • Platform: The StockIt web-based procurement system and all associated services
  • School: Educational institutions using the Platform for procurement
  • Vendor: Suppliers and service providers offering products/services through the Platform
  • User: Any individual or entity accessing or using the Platform
  • Account: A user account created on the Platform
  • Services: All features, functionalities, and services provided through the Platform

3. Account Registration and Security

3.1 Account Creation

  • You must provide accurate, current, and complete information during registration
  • You are responsible for maintaining the confidentiality of your account credentials
  • You must notify us immediately of any unauthorized access to your account
  • You are responsible for all activities that occur under your account

3.2 Account Eligibility

  • You must be at least 18 years old or represent a legally authorized entity
  • You must have the authority to bind your organization to these terms
  • You must comply with all applicable laws and regulations

4. Use of the Platform

4.1 Permitted Use

You may use the Platform for:

  • Creating and managing procurement requisitions (Schools)
  • Managing product catalogs and pricing (Vendors)
  • Processing purchase orders and payments
  • Tracking deliveries and inventory
  • Accessing reports and analytics

4.2 Prohibited Activities

You agree not to:

  • Use the Platform for any illegal or unauthorized purpose
  • Violate any applicable laws or regulations
  • Infringe upon intellectual property rights
  • Transmit viruses, malware, or harmful code
  • Attempt to gain unauthorized access to the Platform or other accounts
  • Interfere with or disrupt the Platform's operation
  • Use automated systems to access the Platform without authorization
  • Impersonate any person or entity
  • Collect or harvest information about other users

5. Procurement and Transactions

5.1 Requisitions and Purchase Orders

  • Schools are responsible for the accuracy of requisitions and purchase orders
  • Vendors are responsible for accurate product information, pricing, and availability
  • All transactions are subject to approval workflows as configured by the school
  • Purchase orders become binding upon acceptance by the vendor

5.2 Pricing and Payments

  • Vendors are responsible for maintaining accurate pricing information
  • Schools agree to pay the agreed-upon prices for products and services
  • Payment processing is handled through integrated payment gateways (Paystack)
  • Vendor payouts are processed according to our T+1 settlement policy
  • All prices are in Nigerian Naira (NGN) unless otherwise specified

5.3 Delivery and Acceptance

  • Vendors are responsible for timely delivery of products/services
  • Schools must confirm delivery and report any issues within a reasonable timeframe
  • Disputes regarding delivery must be reported through the Platform

6. Intellectual Property

The Platform, including its design, features, functionality, and content, is owned by StockIt and protected by intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to use the Platform in accordance with these terms.

You retain ownership of content you submit to the Platform but grant StockIt a license to use, display, and distribute such content as necessary to provide the Services.

7. Fees and Payment Terms

7.1 Platform Fees

StockIt may charge platform fees for certain services. Fee structures will be communicated to users and may vary based on subscription plans or transaction volumes.

7.2 Payment Processing

  • Payment processing fees may apply and are disclosed at the time of transaction
  • Refunds are subject to our refund policy and applicable laws
  • Schools are responsible for maintaining sufficient wallet balance or payment methods

8. Warranties and Disclaimers

8.1 Platform Availability

We strive to maintain Platform availability but do not guarantee uninterrupted or error-free operation. The Platform is provided "as is" and "as available."

8.2 No Warranties

StockIt disclaims all warranties, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement.

8.3 Third-Party Services

The Platform may integrate with third-party services (e.g., payment processors). We are not responsible for the availability, accuracy, or performance of third-party services.

9. Limitation of Liability

To the maximum extent permitted by law, StockIt shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, or business opportunities, arising from your use of the Platform.

Our total liability for any claims arising from the Platform shall not exceed the amount you paid to StockIt in the twelve (12) months preceding the claim.

10. Indemnification

You agree to indemnify, defend, and hold harmless StockIt, its officers, directors, employees, and agents from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:

  • Your use of the Platform
  • Your violation of these Terms and Conditions
  • Your violation of any rights of another party
  • Your content or conduct on the Platform

11. Termination

11.1 Termination by You

You may terminate your account at any time by contacting us or using account deletion features.

11.2 Termination by Us

We may suspend or terminate your account if:

  • You violate these Terms and Conditions
  • You engage in fraudulent or illegal activities
  • You fail to pay required fees
  • We determine termination is necessary to protect the Platform or other users

11.3 Effect of Termination

Upon termination, your right to use the Platform ceases immediately. We may delete your account and data, subject to legal retention requirements.

12. Dispute Resolution

12.1 Governing Law

These Terms and Conditions are governed by the laws of Nigeria. Any disputes shall be subject to the exclusive jurisdiction of Nigerian courts.

12.2 Dispute Process

Parties agree to attempt to resolve disputes through good faith negotiation. If resolution cannot be reached, disputes may be submitted to mediation or arbitration as agreed by the parties.

13. Changes to Terms

We reserve the right to modify these Terms and Conditions at any time. Material changes will be notified to users via email or Platform notification. Continued use of the Platform after changes constitutes acceptance of the modified terms.

14. Miscellaneous

14.1 Entire Agreement

These Terms and Conditions, together with our Privacy Policy, constitute the entire agreement between you and StockIt.

14.2 Severability

If any provision of these terms is found to be unenforceable, the remaining provisions shall remain in full effect.

14.3 Waiver

Failure to enforce any provision of these terms does not constitute a waiver of that provision.

14.4 Assignment

You may not assign or transfer your rights under these terms without our written consent. We may assign our rights and obligations without restriction.

15. Contact Information

For questions about these Terms and Conditions, please contact us: