Scope of This Disclosure
By accessing this page or using the Roundz platform, you acknowledge that you have reviewed and agreed to this Legal Disclosure, including the explanations regarding the nature of the platform, its role, and the scope of its responsibility. Roundz reserves the right to update or modify this disclosure at any time, and your continued use of the platform after any update constitutes your acceptance of such changes. If you do not agree with this disclosure, you should discontinue using the platform.
1- Platform Definition
Roundz is a digital platform specialized in organizing and managing group saving circles (ROSCA-style savings) through a structured technical system designed to ensure discipline, commitment, and transparency among participants.
Roundz is not a bank, financial institution, lending entity, or investment service provider.
2. Nature of the Service
- Roundz operates as a technical and operational organization platform.
- The platform establishes structured rules to ensure participant commitment within each saving circle.
- Roundz applies technical and procedural mechanisms to manage contributions, role scheduling, and continuity of each cycle.
3. Fund Management
- Roundz does not hold, custody, or use user funds for its own account.
- All payment and collection activities are conducted through licensed payment service providers or independent financial entities.
- Roundz’s role is limited to coordination, organization, and system-based monitoring.
4. Commitment & Operational Assurance
- Roundz applies organizational mechanisms designed to ensure participant compliance with the terms of each saving cycle.
- These mechanisms include verification, monitoring, structured enforcement, and internal policies.
- The successful completion of any saving cycle depends on participant commitment, supported by Roundz’s organizational framework.
5. No Financial Advice
All information and services provided through Roundz do not constitute financial, investment, or legal advice.
6. Administrative Fees
- Roundz may charge administrative fees for its technical and organizational services.
- These fees are not interest-based, are not linked to time or amount, and comply with Shariah principles.
7. Limitation of Liability
- Roundz is responsible for operating and maintaining the organizational and technical system of the platform.
- Roundz shall not be liable for force majeure events or technical issues beyond reasonable control.
- Roundz is not responsible for obligations or arrangements outside the approved platform system.
8. Lawful Use
Users must use the Roundz platform in compliance with applicable laws and regulations of the United Arab Emirates.
9. Compliance
Roundz complies with UAE laws and regulations, including data protection and privacy requirements, and continuously aligns its services with relevant regulatory expectations.
10. Intellectual Property
All trademarks, content, designs, and materials on the Roundz platform are the exclusive property of Roundz and may not be used without prior written consent.
11. Amendments
Roundz reserves the right to update or modify this Legal Disclosure at any time, with updates published on the official platform.
12. Governing Law
This Legal Disclosure shall be governed by and interpreted in accordance with the laws of the United Arab Emirates, and UAE courts shall have exclusive jurisdiction.
