Effective Date: 1 March 2025
Last Updated: 24 April 2025
Welcome to Durban Companies Market (https://www.dcmarket.co.za) and Durban Exchange (https://durban.exchange), a crowdfunding platform administered in collaboration with Durban Companies Market (DCM) and National Zakat Foundation (NZF). By accessing or using this website, you agree to comply with and be bound by the following Terms of Use. If you do not agree to these terms, please do not use our platform.
1. Introduction
Durban Exchange provides a platform for individuals, organisations, and businesses to raise funds for various projects. By using this website, you agree to abide by these Terms of Use and any additional policies referenced herein.
2. Eligibility
To use this platform, you must:
- Be at least 18 years old or have parental/guardian consent if under 18.
- Provide accurate and complete information when registering and submitting an application.
- Use the platform for legitimate crowdfunding purposes only.
We reserve the right to reject, suspend, or terminate any campaign or account that violates these terms.
3. User Responsibilities
3.1. Crowdfunding Campaigns
By submitting a crowdfunding campaign, you agree to:
- Provide honest and transparent details about your project.
- Use funds exclusively for the purpose stated in your campaign.
- Deliver updates to backers and comply with any accountability reporting requirements.
Failure to meet these obligations may result in the removal of your campaign and/or legal action if fraud or misrepresentation is detected.
3.2. Donations & Fund Distribution
- All contributions are voluntary, and Durban Exchange does not guarantee refunds.
- Funds raised will be transferred to the campaign owner after the crowdfunding cycle ends, subject to verification.
- Campaign owners are responsible for ensuring that funds are used appropriately and lawfully.
4. Venture Lab Mentorship Program
- Business-related projects requiring structured financial management may be referred to the Venture Lab mentorship program run by Durban Companies Market (DCM).
- The mentorship program is not mandatory and applies only to business-related projects.
- Acceptance into the mentorship program is subject to eligibility and review by DCM.
5. Prohibited Activities
You may not use this platform for:
❌ Fraudulent or deceptive campaigns
❌ Illegal activities or fundraising for unlawful purposes
❌ Hate speech, violence, or discriminatory content
❌ Money laundering, pyramid schemes, or financial fraud
❌ Misuse of funds or failure to deliver promised outcomes
Durban Exchange reserves the right to suspend, remove, or report any violations to relevant authorities.
6. Platform Fees & Payments
- Durban Exchange may deduct a small administrative fee to support platform operations.
- Payment processing fees (e.g., bank transfers, transaction costs) may also apply.
- The final amount received by the campaign owner will be after applicable deductions.
7. Intellectual Property
- All content submitted to Durban Exchange (including campaign descriptions, images, and videos) remains the intellectual property of the creator.
- By submitting content, you grant Durban Exchange a non-exclusive license to display, promote, and share your campaign for marketing purposes.
- You may not use the Durban Exchange logo, branding, or proprietary content without prior written permission.
8. Limitation of Liability
- Durban Exchange is a facilitator and does not guarantee project success or endorse specific campaigns.
- We are not responsible for misuse of funds or failure of campaign owners to deliver promised outcomes.
- Users assume all risks associated with participation, donations, and campaign execution.
Under no circumstances will Durban Exchange, DCM, or NZF be liable for direct, indirect, incidental, or consequential damages resulting from use of the platform.
9. Privacy Policy
- Your personal information is protected and used only for platform operations.
- We do not sell or share your data with third parties without consent.
- See our Privacy Policy for detailed information on data handling and protection.
10. Dispute Resolution
10.1. Internal Resolution Process
- If a dispute arises between campaign owners, donors, or platform administrators, both parties must first attempt to resolve the issue informally by contacting Durban Exchange support.
- If a resolution cannot be reached within 10 business days, the matter may proceed to mediation.
10.2. Mediation & Arbitration
- Disputes that cannot be resolved internally may be referred to a neutral mediator agreed upon by both parties.
- If mediation fails, the dispute will be resolved through binding arbitration in accordance with South African arbitration laws.
- The decision of the arbitrator will be final and enforceable.
11. Refund Policy
- Donations to campaigns are non-refundable, as they are voluntary contributions made to support specific projects.
- Durban Exchange does not guarantee refunds in cases where campaign owners fail to deliver on their promises.
- Campaign owners are required to provide clear and transparent updates to donors.
- In cases of fraud or misrepresentation, Durban Exchange reserves the right to investigate and take necessary action, including legal recourse.
12. Tax Implications
- For Donors: Contributions made on Durban Exchange are not tax-deductible unless explicitly stated that a campaign is registered under a qualifying non-profit organization.
- For Campaign Owners: Funds raised through Durban Exchange may be subject to tax obligations in accordance with South African tax laws. It is the responsibility of the campaign owner to:
- Report crowdfunding income in their tax filings.
- Seek professional tax advice if unsure about obligations.
- Durban Exchange does not provide tax advice and encourages users to consult tax professionals.
13. Changes to Terms of Use
We may update or modify these Terms of Use at any time. Continued use of the platform after changes are posted constitutes acceptance of the new terms.
14. Termination & Suspension
Durban Exchange reserves the right to:
- Suspend or terminate user accounts that violate these terms.
- Remove campaigns that are fraudulent, inactive, or in breach of guidelines.
- Take legal action against individuals or organizations engaged in prohibited activities.
15. Contact Information
For questions regarding these Terms of Use, please contact us at:
📧 legal@nzf.org.za
📞 087 550 1322
🌍 https://durban.exchange & https://www.dcmarket.co.za