Terms of Payment

Effective Date: June 24, 2025

Last Updated: October 27th, 2025

1. Overview and Acceptance

These Terms of Payment govern the earning, management, and withdrawal of LeadCoins on the Leadchap platform. By using Leadchap's payment features, you agree to comply with these terms, our Terms of Service, and Privacy Policy.

2. LeadCoins System

LeadCoins are:

  • A virtual currency used exclusively within the Leadchap platform
  • Earned through participation in Lead Rewards challenges and competitions
  • Not transferable between users or convertible to other virtual currencies
  • Subject to the rules and conditions of each specific challenge

LeadCoins have no cash value until successfully withdrawn through our payment system.

3. Eligibility for Cash Out

  • Users must have a minimum balance of 1,000 LeadCoins to request cashout
  • Account must be in good standing with no active violations or disputes
  • User must be at least 18 years old
  • Valid and verified payment method must be linked to the account
  • Identity verification may be required for larger withdrawal amounts
  • LeadCoins earned must be legitimate and not from fraudulent activities

4. Cash Out Process and Fees

💰 Withdrawal Example

15,000 LeadCoins
- 15% Service Fee = Payout: $85

💸 Fee Breakdown

• Platform maintenance
• Transaction processing
• Payment gateway fees
• Regulatory compliance

  • 15% service fee deducted from all withdrawal requests
  • Remaining 85% paid in local currency equivalent
  • All fees are clearly displayed before transaction confirmation
  • Users must explicitly confirm acceptance of fees before processing

5. Payment Methods and Currencies

🇳🇬 Nigerian Users

  • • Paystack (Bank Transfer)
  • • Nigerian Naira (₦)
  • • Local bank accounts only

🌍 International Users

  • • PayPal
  • • US Dollars ($)
  • • Currency conversion applied

Exchange rates are determined by our payment processors at the time of transaction.

6. Payment Timelines and Processing

Standard Processing Times:

  • Request Review: 1-2 business days for verification
  • Nigerian Users: 24-48 hours after approval
  • International Users: 3-5 business days after approval
  • Weekends/Holidays: Processing resumes next business day

Factors that may cause delays:

  • Bank processing times and cut-off hours
  • Public holidays in your country or Nigeria
  • Additional verification requirements
  • Technical issues with payment processors

7. Verification and Security Measures

We implement the following security measures:

  • Identity verification for withdrawals above 5,000 LeadCoins
  • Bank account/PayPal account validation
  • Anti-fraud monitoring and suspicious activity detection
  • Transaction limits to prevent money laundering
  • Secure encryption for all financial data

Accounts involved in fraudulent activities, chargebacks, or policy violations will be suspended, and all LeadCoins may be forfeited.

8. Dispute Resolution and Refunds

Dispute Process:

  • Payment disputes must be submitted within 30 days of transaction
  • Provide detailed explanation and supporting evidence
  • We will investigate and respond within 14 business days
  • Decisions are final and binding for amounts under $500

Refund Policy:

  • No refunds for legitimately earned and withdrawn LeadCoins
  • Refunds only issued for proven platform errors or technical failures
  • Chargebacks will result in immediate account suspension
  • All refunds are processed in LeadCoins, not cash

9. Tax Obligations

Users are solely responsible for reporting and paying any taxes applicable to their earnings from Leadchap in their respective jurisdictions.

  • We do not provide tax advice or tax documentation
  • Users should consult with tax professionals regarding their obligations
  • We may be required to report earnings to tax authorities as per local laws
  • All tax liabilities are the responsibility of the user

10. Limitations of Liability

  • Not liable for delays caused by third-party payment processors, banks, or financial institutions
  • Not responsible for currency fluctuation losses during processing
  • Not liable for user errors in providing payment information
  • Maximum liability limited to the amount of the disputed transaction
  • Not responsible for force majeure events affecting payment processing

While we strive for timely processing, external factors beyond our control may occasionally cause delays. We commit to resolving genuine issues promptly.

11. Account Suspension and Termination

  • We may suspend payment features for accounts under investigation
  • Terminated accounts forfeit all unused LeadCoins
  • Suspended accounts have 30 days to resolve issues before permanent forfeiture
  • Fraudulent activities result in immediate termination and legal action
  • Users may appeal suspensions through our support system

12. Amendments to Terms

We reserve the right to:

  • Modify fees, minimum withdrawal amounts, and processing times
  • Add or remove payment methods based on availability and compliance
  • Update verification requirements for security and regulatory compliance
  • Change these terms with 30 days notice for significant changes

Continued use of payment features after changes constitutes acceptance. Material changes will be communicated via email and in-app notifications.

13. Governing Law and Jurisdiction

These Terms of Payment are governed by the laws of Nigeria. Any disputes shall be resolved through arbitration in Lagos, Nigeria. For international users, your local consumer protection laws may apply where applicable.

14. Contact Information

For payment-related inquiries:

📧 Payments Team: payments@leadchap.com

📧 Dispute Resolution: disputes@leadchap.com

📧 General Support: support@leadchap.com

📍 Address: 86, Allen Avenue, Beside GTbank, Allen, Ikeja, Lagos, Nigeria

Response time: 1-2 business days for general inquiries, 24 hours for urgent payment issues.

By using Leadchap's payment features, you acknowledge that you have read, understood, and agree to be bound by these Terms of Payment.

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