Partnership Terms & Conditions

1. Introduction

These Partnership Terms and Conditions ("Terms") govern the Musharaka (partnership) relationship between Sidoconnect ("Company", "We", "Our") and individuals or entities who contribute capital to become business partners ("Partners", "You", "Your").

By purchasing partnership units and signing the Musharaka Agreement, you acknowledge that you have read, understood, and agree to be bound by these Terms.

2. Partnership Structure

2.1 Ownership Distribution

The Company operates on the following ownership structure:

• Founding Team: 60% ownership - responsible for vision, development, operations, and management
• Capital Partners: 40% ownership - reserved for individuals contributing capital

2.2 Partnership Units

• Total Units: 10,000 units
• Units Available to Partners: 4,000 units (40% of total)
• Unit Price: ₦1,000 per unit
• Total Capital Sought: ₦4,000,000
• Minimum Purchase: 1 unit (₦1,000)
• Maximum Purchase: No limit, subject to availability

2.3 Nature of Partnership

This is an equity ownership partnership, not a loan or debt instrument. Your capital contribution:

• Will NOT be returned to you
• Grants you permanent ownership in the business
• Entitles you to proportional profit sharing when profits are distributed
• Makes you liable for proportional losses if they occur

3. Business Activities

3.1 The Three Platforms

Your partnership capital will be used to develop and operate three digital platforms:

1. Social Media Network
   • Community-focused platform for African users
   • Revenue: Advertising, premium subscriptions, sponsored content
2. Classified Ads Platform
   • Marketplace for buying, selling, and services
   • Revenue: Featured listings, business subscriptions, premium placements
3. Review Website
   • Platform for business and product reviews
   • Revenue: Business profiles, premium features, verification badges

3.2 Use of Capital

Partner capital contributions will be used strictly for halal business activities:

• Platform development and customization
• Technical infrastructure, hosting, and security
• Marketing and user acquisition
• Legal compliance and business registration
• Operational expenses and team salaries

4. Profit & Loss Sharing

4.1 Profit Distribution

Profits are shared strictly according to units held:

• Your profit share = (Your units ÷ 10,000 total units) × Distributable profit
• Example: 100 units = 1% ownership = 1% of distributable profits

4.2 Distribution Schedule

• First Review: 6 months after operations begin
• Subsequent Reviews: Annually thereafter
• Distribution Approval: Subject to board decision and business performance

4.3 Loss Sharing

In accordance with Musharaka principles, losses are also shared proportionally:

• If the business incurs losses, partners share them according to their ownership percentage
• Losses are absorbed through reduction in partnership value, not additional capital calls
• Partners are not liable beyond their original capital contribution

5. Partner Rights & Responsibilities

5.1 Partner Rights

As a Musharaka partner, you have the right to:

• Receive proportional profit distributions when declared
• Access periodic financial reports and business updates
• Participate in partner surveys and feedback sessions
• Transfer or sell units subject to approval (see Section 6)
• Receive recognition as a Founding Partner

5.2 Partner Responsibilities

As a partner, you are expected to:

• Support the business vision and ethical principles
• Promote the platforms ethically within your network
• Provide constructive feedback when requested
• Maintain confidentiality of non-public business information
• Uphold the reputation and integrity of Sidoconnect
• Accept both profits and losses as they occur

5.3 Management Rights

The Founding Team retains exclusive management authority over:

• Day-to-day business operations
• Strategic business decisions
• Hiring and personnel management
• Platform development priorities
• Marketing and growth strategies

Partners do not have management authority or voting rights unless specifically granted in writing.

6. Unit Transfers & Liquidity

6.1 Transfer Restrictions

• Partnership units are not publicly tradable
• All transfers must be approved by the Company
• Transfer mechanisms will be established after platform launch
• Right of first refusal may apply to transfers

6.2 Permitted Transfers

Transfers may be permitted to:

• Immediate family members (spouse, children, parents)
• Other existing partners
• New partners approved by the Company
• Trusts or estate planning vehicles (with approval)

6.3 Liquidity Notice

7. Referral Program

7.1 Referral Bonus

• Partners earn ₦500 for each person they directly refer who becomes a partner
• Referral must use your unique referral link
• Bonus paid after referred partner's payment is confirmed
• No limit on number of referrals

7.2 Referral Rules

• Only direct referrals count (single-level program)
• Self-referrals or circular referrals are prohibited
• Referrals must be genuine new partners
• Company reserves right to disqualify fraudulent referrals

8. Risks & Disclaimers

8.1 Investment Risks

You acknowledge and accept the following risks:

• Business Risk: The platforms may not achieve profitability
• Market Risk: Competition and market conditions may affect performance
• Technology Risk: Technical challenges may delay or prevent success
• Timing Risk: Development may take longer than anticipated
• Capital Risk: You may lose your entire capital contribution
• Liquidity Risk: Units may be difficult or impossible to sell
• Regulatory Risk: Changes in laws may affect operations

8.2 No Guarantees

The Company makes no guarantees regarding:

• Platform launch dates
• User acquisition or growth
• Revenue generation
• Profitability
• Profit distributions
• Unit value appreciation
• Ability to transfer units

9. Termination & Dissolution

9.1 Partnership Duration

This partnership has no fixed end date and continues indefinitely unless:

• The business is sold or acquired
• Partners vote to dissolve (75% majority required)
• Business becomes legally impossible to continue
• Bankruptcy or insolvency occurs

9.2 Dissolution Process

In the event of dissolution:

• Assets will be liquidated in an orderly manner
• Debts and obligations will be settled first
• Remaining assets distributed to partners proportionally
• Partners may receive less than their original contribution

10. Dispute Resolution

10.1 Mediation

Any disputes shall first be attempted to be resolved through:

• Good faith negotiation between parties
• Mediation by mutually agreed Islamic scholars or mediators
• Arbitration if mediation fails

10.2 Governing Law

These Terms are governed by:

• The laws of the Federal Republic of Nigeria
• Islamic Sharia principles as they apply to Musharaka
• Jurisdiction: Courts of Kwara State, Nigeria

11. Amendment of Terms

The Company reserves the right to amend these Terms:

• Partners will be notified 30 days before material changes
• Continued participation constitutes acceptance of amendments
• Major changes may require partner consent

12. Contact Information

For questions regarding these Terms:

• Email: support@sidoconnect.name.ng
• WhatsApp: 07037261934
• Address: Ilorin, Kwara State, Nigeria

May Allah (SWT) bless this partnership and make it beneficial for all involved. Ameen.