PoolSpace is a digital coordination platform that allows users to create and contribute to group funding pools for personal, community, or event-based purposes.

PoolSpace:

• Facilitates the collection of contributions
• Enables funds to be paid directly to a designated beneficiary
• Does not hold funds, store balances, or operate as a bank or wallet

PoolSpace is not a financial institution, payment service provider, or escrow service.

• Pool – A group collection created on PoolSpace for a specific purpose
• Organiser – The person who creates and manages a Pool
• Contributor – A person who contributes funds to a Pool
• Beneficiary – The person or entity designated to receive the funds
• Contribution – A payment made into a Pool
• Payment Provider – A third-party payment processor used to process transactions

To use PoolSpace, you must:

• Be at least 18 years old
• Have legal capacity to enter into binding agreements
• Use the platform for lawful purposes only

PoolSpace reserves the right to refuse service to any user at its discretion.

By creating a Pool, you confirm that:

• All information provided is accurate and truthful
• You have the authority to raise funds for the stated beneficiary
• The Pool purpose is lawful and not misleading

Organisers must clearly disclose:

• Whether the beneficiary is themselves or another person
• The full name of the beneficiary
• The relationship to the beneficiary (where applicable)

To protect contributors and prevent fraud:

• PoolSpace may require identity verification of organisers
• Bank account details may be verified to confirm the account holder name
• Payout accounts may be locked once contributions begin

PoolSpace may suspend or cancel Pools where verification fails or information appears inconsistent.

All contributions are final and non-refundable.

Once a contribution is successfully processed:

• It cannot be reversed
• PoolSpace does not offer refunds
• Contributors accept that funds will be paid to the designated beneficiary

This applies regardless of:

• Whether the Pool reaches its goal
• Any change in circumstances
• Disputes between organisers and beneficiaries

PoolSpace may charge a service fee per contribution.

• Fees are disclosed before payment
• Fees may include payment processing costs
• Fees are non-refundable

PoolSpace reserves the right to change fees with notice.

All payments are processed by third-party payment providers.

PoolSpace:

• Does not process payments directly
• Does not store card or banking details
• Is not responsible for payment provider downtime or errors

By using PoolSpace, you agree to the payment provider's terms and policies.

• Funds are paid directly to the verified beneficiary bank account
• Payout timing depends on the payment provider
• PoolSpace does not guarantee payout speed

Once paid out, PoolSpace has no control over how funds are used.

Once a Pool receives its first contribution:

• Beneficiary details cannot be changed
• Payout bank details cannot be changed
• The Pool cannot be cancelled

These rules exist to protect contributors.

You may not use PoolSpace to:

• Commit fraud, misrepresentation, or deception
• Launder money or evade laws
• Fund illegal activities
• Impersonate another person
• Harass, threaten, or abuse others

PoolSpace reserves the right to suspend or terminate accounts involved in prohibited activity.

PoolSpace may:

• Monitor Pools for suspicious activity
• Suspend or disable Pools pending review
• Report illegal activity to authorities where required

PoolSpace is not obligated to provide advance notice of suspension.

To the fullest extent permitted by law:

PoolSpace is not liable for:

• Losses arising from contributions
• Disputes between organisers, contributors, and beneficiaries
• Misuse of funds by beneficiaries
• Failed or delayed payouts caused by payment providers

Use of PoolSpace is at your own risk.

You agree to indemnify and hold PoolSpace harmless from any claims, losses, or damages arising from:

• Your use of the platform
• Your Pool or contributions
• Your violation of these Terms

All PoolSpace branding, content, and software are owned by PoolSpace.

You may not copy, modify, or redistribute any part of the platform without permission.

PoolSpace processes personal information in accordance with its Privacy Policy and applicable data protection laws, including POPIA where applicable.

PoolSpace may update these Terms from time to time.

Continued use of the platform after changes means you accept the updated Terms.

These Terms are governed by the laws of the Republic of South Africa, unless otherwise stated.

For questions or concerns, contact: info@poolspace.app