Terms and Conditions

1. Introduction

These Terms and Conditions ("Terms") govern your use of the GoatVest platform ("Platform"), operated by GoatVest Africa Limited (KRA PIN: P052538879F), a company incorporated in Kenya ("GoatVest", "we", "us", "our"). By registering an account or using the Platform you confirm that you have read, understood, and agree to be bound by these Terms.

If you do not agree with any part of these Terms, you must not use the Platform.

2. Definitions

"Platform" means the GoatVest website at goatvest.africa and all associated services.

"Investor" means a registered user who bids on, holds, and earns income from goats under the Goat Management Agreement.

"Farm Partner" means a verified dairy-goat farm that lists, manages, and milks animals on the Platform.

"Bell Credits" (also "Bells") means the closed-loop platform currency used exclusively for bidding and purchasing on the Platform. Bell Credits are pre-paid vouchers, not money, and are non-redeemable for cash.

"Cash Earnings" means KES proceeds credited to an Investor or Farm Partner from auction sales, secondary market sales, or milk income payouts. Cash Earnings are withdrawable to M-Pesa.

"GMA" means the Goat Management Agreement, the contractual arrangement under which an Investor owns a goat that is managed by a Farm Partner for a 36-month cycle.

"Certificate of Ownership" means the digital certificate issued to a winning bidder confirming ownership of a goat under the GMA.

"Auction" means any primary or secondary sale listing conducted on the Platform.

3. Acceptance and Eligibility

3.1 You must be at least 18 years of age and legally capable of entering into binding contracts under Kenyan law to use the Platform.

3.2 By creating an account you warrant that all information you provide is accurate, complete, and up-to-date. You are responsible for maintaining the accuracy of your information.

3.3 Accounts are personal. You must not share your login credentials or allow any other person to access your account.

4. Account Registration and KYC

4.1 All users must complete the registration process and, where required, submit Know Your Customer ("KYC") documentation.

4.2 GoatVest operates a tiered KYC system:

• Tier 1 — Mobile number verified; deposit limit KSh 100,000 per transaction; withdrawal limit KSh 70,000 per transaction; daily withdrawal cap KSh 150,000.
• Tier 2 — National ID or Passport verified; higher limits apply.
• Tier 3 — Full business/beneficial-ownership verification; highest limits apply.

4.3 GoatVest reserves the right to suspend or terminate any account where KYC requirements are not met, or where we suspect fraudulent or unlawful activity.

4.4 You must retain transaction records for a minimum of 7 years as required by Kenyan AML regulations.

5. Bell Credits (Platform Currency)

5.1 Bell Credits are a closed-loop pre-paid voucher redeemable solely for bids and purchases on the Platform. They are not money, not a store of value, and carry no interest.

5.2 Bell Credits are purchased by M-Pesa STK Push at a rate of 1 Bell Credit = KSh 1. No other purchase method is accepted unless expressly stated.

5.3 Bell Credits cannot under any circumstances be withdrawn to M-Pesa or any other payment method. This is a firm regulatory requirement.

5.4 Bell Credits cannot be used to pay fees or expenses outside the Platform.

5.5 Bell Credits that have been inactive (no deposits, bids, or purchases) for 24 consecutive months will expire. GoatVest will issue a reminder at 60 days before expiry.

5.6 On placing a bid, Bell Credits equal to the bid amount are placed on hold. They are released if you are outbid beyond the top-3 positions; permanently debited on a winning purchase.

5.7 Minimum deposit: KSh 1,000. First-deposit cool-off: Bell Credits purchased in the first 14 days are non-refundable beyond KSh 5,000 per account (one-time).

5.8 Bell Credits may be transferred to another Investor's account via the Sambaza feature (investor-to-investor only, subject to platform limits).

6. Cash Earnings Balance

6.1 Cash Earnings are KES proceeds credited to your account from: auction sale proceeds (95% of hammer price), secondary market sale proceeds (95%), and monthly GMA milk income.

6.2 Cash Earnings are held in a segregated trust account and are not GoatVest's funds. GoatVest holds them on your behalf.

6.3 You may request a withdrawal of Cash Earnings to a registered M-Pesa number at any time, subject to: minimum withdrawal KSh 500; Tier 1 transaction limit KSh 70,000; daily cap KSh 150,000; and a 7-day buyer-protection hold on proceeds from a sale.

6.4 Cash Earnings cannot be used to fund Bell Credits purchases or bids. Top-up via M-Pesa only.

6.5 GoatVest processes withdrawals below KSh 20,000 automatically. Withdrawals above this threshold require admin approval within 2 business days.

6.6 The M-Pesa number used for withdrawal must match your registered number or be confirmed by a one-time password (OTP).

7. Auction Rules

7.1 The Platform operates English ascending-bid auctions with an anti-snipe soft-close: any bid placed within the final 2 minutes of a listing extends the closing time by 3 minutes. This extension repeats as long as bids continue.

7.2 Bids are binding. By placing a bid you commit to purchase the item at that price if you are selected as the winner.

7.3 The top 3 bids hold Bell Credits. Bids ranked 4th or lower are automatically released at the time of outbid.

7.4 After a listing closes, the seller has 48 hours to select their preferred buyer from the top 3 bidders. If no selection is made within 48 hours, the highest bidder is automatically awarded the lot.

7.5 GoatVest displays only whether the reserve price has been met or not. The exact reserve amount is never disclosed.

7.6 Default listing duration is 7 days. Farm Partners may set shorter or longer durations within platform limits.

7.7 A listing may be delisted only within 24 hours of going LIVE, or before the first bid is received — whichever occurs first.

7.8 Auction types: GMA Only (buyer must hold a current GMA), Pay & Carry (buyer takes physical delivery), or Both (buyer chooses at time of bid). The listing type is set by the seller and cannot be changed after the first bid.

7.9 GoatVest reserves the right to cancel or void any auction in the event of fraud, system error, or regulatory requirement.

8. Fees and Commissions

8.1 GoatVest charges a commission of 5% of the hammer price on all auction sales, deducted from the seller's proceeds. The seller receives 95%.

8.2 VAT of 16% is applied to the GoatVest commission (not to the full hammer price).

8.3 The same 5% commission structure applies to secondary market (certificate re-listing) sales.

8.4 Farm booking fees: the Platform deducts a 5% + 16% VAT fee from farm visit booking payments; the remainder is credited to the Farm Partner's Cash Earnings.

8.5 E-learning course enrollment fees: same 5% + 16% VAT fee structure applies.

8.6 Feature Bell Costs: certain premium platform features (e.g. Breeding Analytics, Ancestry tab, Vet tools) are charged in Bell Credits per use. Current charges are displayed on the relevant feature page.

8.7 GoatVest may update its fee schedule with 30 days' notice published on the Platform.

9. Goat Management Agreement (GMA)

9.1 On winning a GMA auction, an Investor enters into the GoatVest Goat Management Agreement with the Farm Partner. The full GMA document is available at /legal/gma.

9.2 Under the GMA the Farm Partner manages, milks, and cares for the animal for a 36-month cycle comprising 20 months of active milking and two 8-month breeding phases. The Investor retains legal ownership evidenced by the Certificate of Ownership.

9.3 GMA milk income is paid monthly. The Farm Partner reconciles milk production each month and GoatVest credits the corresponding income to your Cash Earnings balance by the 15th of the second calendar month following the production month. Each month is calculated at 28 days.

9.4 GMA Category income rates (KSh per 28-day month):

• Category 1 (≥ 5 L/day): KSh 4,200 (KSh 150/day)
• Category 2 (4.1–5 L/day): KSh 3,570 (KSh 127.50/day)
• Category 3 (3.1–4 L/day): KSh 2,303 (KSh 82.25/day)
• Category 4 (2.1–3 L/day): KSh 1,050 (KSh 37.50/day)
• Category 5 (≤ 1.5 L/day): KSh 420 (KSh 15/day)

9.5 Categories are assigned from a 3-month rolling average milk yield and remain stable for 3 months after assignment. GoatVest may adjust category rates with 30 days' notice.

9.6 GoatVest does not guarantee minimum milk production or income. Milk production depends on animal health, breed, feed quality, and seasonal conditions.

9.7 Insurance — Investor's responsibility. The Investor (certificate holder) is solely responsible for insuring the goat against loss, death, or theft for the full duration of the GMA. GoatVest may offer facilitated insurance with premiums automatically deducted from your Cash Earnings; this service is subject to availability. The Farm Partner bears no liability for losses arising from Force Majeure or Acts of God (including epidemic, natural disaster, or extreme weather). In the event of animal death due to Farm Partner negligence, GoatVest will investigate and facilitate resolution in accordance with the signed GMA. GoatVest strongly recommends that all GMA investors maintain insurance cover throughout the 36-month cycle.

9.8 GMA-specific withdrawal and exit rules:

• Farm-purchased goats: A goat purchased from GoatVest's farm must remain under GMA management for the full 36-month term. Early withdrawal is not permitted.
• Externally sourced goats: An Investor who brought a goat from another farm may request withdrawal by providing two (2) months' written notice to GoatVest. The goat is released after the notice period.
• Secondary market exit: Any Investor may exit at any time by listing and selling the Certificate of Ownership on the secondary market. The goat remains at the farm; only ownership transfers.
• Either party may terminate the GMA with two (2) months' written notice, subject to the origin rules above.

9.9 Farm access: Each Investor is entitled to one free Farm Open Day visit every six months. Private visits outside of Open Days incur a KSh 1,000 appointment fee. Open Day dates are communicated via the Platform.

9.10 Breeding and offspring: The goat is bred twice during the 36-month cycle. Offspring from the first breeding belong to the Farm Partner (offsetting management costs). Offspring from the second breeding belong to the Investor. Farm-owned kids remain at the farm for 5 months' weaning; thereafter the Investor may collect them, enroll them in a new GMA, or request the farm to facilitate a sale.

9.11 At end of cycle: The certificate holder decides whether to renew for another 36-month cycle, collect the goat, or ask the farm to facilitate a sale at market price.

10. Certificate of Ownership

10.1 A Certificate of Ownership is issued digitally upon completion of a GMA auction purchase. It records the animal's tag number, breed, GMA dates, and the registered owner.

10.2 Certificates may be listed for resale on the secondary market. The seller sets the listing price; GoatVest charges the standard 5% commission.

10.3 On a successful secondary sale, the Certificate transfers to the new buyer and the GMA obligations transfer accordingly.

10.4 Certificates are platform-specific records and are not legal titles under Kenyan law unless accompanied by a signed GMA executed in accordance with the full agreement.

11. Farm Partner Obligations

11.1 Farm Partners must maintain the goats in their care in accordance with GoatVest's Standard Operating Procedures (SOP) and pass periodic farm-visit assessments.

11.2 Farm Partners must record accurate milk yields monthly using the Platform's milk-record tool.

11.3 Farm Partners are responsible for animal welfare, veterinary care, feed, and housing at their own cost (except where the GMA specifies otherwise).

11.4 Farm Partners must not sell, transfer, or slaughter any goat registered on the Platform without prior written approval from GoatVest.

11.5 Farm Partners must notify GoatVest within 24 hours of any animal illness, injury, or death.

11.6 Failure to meet Farm Partner obligations may result in suspension, removal from the Platform, and liability for losses suffered by Investors.

12. Prohibited Activities

You must not:

• Use the Platform to launder money or finance terrorism.
• Create multiple accounts to circumvent KYC or deposit limits.
• Manipulate bids, including shill bidding or bid withdrawal schemes.
• Attempt to access another user's account or Platform systems without authorisation.
• Reverse-engineer, scrape, or exploit the Platform in any way not expressly permitted.
• List animals or certificates you do not legally own or have authority to sell.
• Use Cash Earnings to fund Bell Credits purchases or bids.
• Represent Bell Credits as cash, cryptocurrency, investment securities, or any regulated financial instrument.

13. Anti-Money Laundering (AML)

13.1 GoatVest is committed to compliance with the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) and the Prevention of Terrorism Act.

13.2 Suspicious activity is reported to the Financial Reporting Centre (FRC) as required by law.

13.3 Transactions exceeding KSh 50,000 in withdrawal may be subject to enhanced scrutiny and sanctions screening.

13.4 GoatVest may freeze or terminate accounts and report to authorities without prior notice where AML obligations require it.

14. Intellectual Property

14.1 All content on the Platform, including but not limited to text, graphics, logos, software, and animal profile data, is owned by or licensed to GoatVest Africa Limited.

14.2 You may not reproduce, distribute, or create derivative works from Platform content without our prior written consent.

15. Limitation of Liability

15.1 GoatVest provides the Platform on an "as is" and "as available" basis. We do not warrant uninterrupted or error-free service.

15.2 To the maximum extent permitted by Kenyan law, GoatVest shall not be liable for: indirect, incidental, or consequential losses; loss of income or profits; loss of data; or losses arising from third-party service providers used in the delivery of the Platform.

15.3 GoatVest's total aggregate liability to you shall not exceed the total commissions paid by you to GoatVest in the 12 months preceding the claim.

15.4 Nothing in these Terms limits liability for fraud, death, or personal injury caused by our negligence.

16. Indemnification

You agree to indemnify and hold GoatVest, its directors, employees, and agents harmless from any claims, losses, damages, or expenses (including legal fees) arising from: your violation of these Terms; your use of the Platform; or your violation of any third-party rights.

17. Termination

17.1 GoatVest may suspend or terminate your account with immediate effect for: breach of these Terms, suspected fraud, AML obligations, or regulatory requirement.

17.2 You may close your account at any time by contacting support. Pending auction bids, held Bell Credits, and Cash Earnings balances must be resolved before closure.

17.3 On termination, GoatVest will release any available Cash Earnings balance to your registered M-Pesa number within 10 business days, subject to AML checks.

18. Privacy and Data Protection

18.1 We collect and process personal data in accordance with our Privacy Policy available at /legal/privacy and the Data Protection Act 2019 (Kenya).

18.2 KYC documents and financial records are retained for 7 years as required by POCAMLA.

18.3 We do not sell your personal data to third parties.

19. Amendments

19.1 GoatVest may update these Terms at any time. Material changes will be notified via the Platform with at least 14 days' notice before they take effect.

19.2 Continued use of the Platform after the effective date of changes constitutes acceptance of the updated Terms.

20. Governing Law and Dispute Resolution

20.1 These Terms are governed by the laws of the Republic of Kenya.

20.2 Any dispute arising from or relating to these Terms shall first be submitted to mediation facilitated by GoatVest. If unresolved within 30 days, the dispute shall be referred to arbitration in Nairobi under the rules of the Nairobi Centre for International Arbitration (NCIA).

20.3 Nothing in this clause prevents GoatVest from seeking injunctive relief from a Kenyan court.

21. Contact

GoatVest Africa Limited

KRA PIN: P052538879F

Nairobi, Kenya

Email: support@goatvest.africa

Platform: goatvest.africa