Merchant Agreement

1. Who this agreement is between

This agreement is between Techsharks Solution Ltd (RC 9857892), the company that owns and operates Speedrop ("Speedrop", "we", "us"), and the business that applies to sell on Speedrop ("you", "the merchant"). By submitting a merchant application, or by accepting orders on Speedrop, you agree to this agreement, our Terms of Service, our Returns & Refunds Policy and our Acceptable Use Policy.

You are an independent business. You are the seller of the goods you list, and you are responsible for their quality, safety, description and price, and for holding any licence or permit your goods require. Prescription-only medicines may not be sold on Speedrop.

2. Commission and fees

• For each order, you receive the price of the items ordered from you, less Speedrop's commission. Your commission rate is shown when you apply and in your merchant dashboard: 20% for merchants with an approved CAC certificate, or 25% until a CAC certificate has been uploaded and approved.
• Delivery fees and service charges paid by the customer belong to Speedrop. Speedrop pays the riders who deliver your orders.
• Speedrop pays the payment processing fees charged by our payment provider. They are not deducted from your share.
• We will give you at least 14 days' notice by email before changing your commission rate.

3. How and when you are paid (settlement schedule)

• Customers pay online through our licensed payment provider, Paystack. When you join, we register your business bank account with Paystack as a settlement account.
• When a customer pays, Paystack splits the payment automatically: your share goes to your bank account and Speedrop's commission and fees go to Speedrop. Speedrop does not collect or hold your share.
• Your share is paid out on Paystack's settlement schedule — normally the next business day after the payment. Settlement is not held until the order is delivered; it follows the payment, even if the order is later cancelled or refunded. Section 5 explains how refunds on those orders are handled.
• Weekends and public holidays can delay settlement until the next business day. Paystack may also delay or hold a settlement under its own risk and compliance rules.
• You must keep your bank details correct and in your business's name. We are not responsible for settlements delayed or misdirected because of bank details you gave us.
• Your merchant dashboard shows each order, its amount, our commission and your share, so you can reconcile your settlements.

4. Cancellations, failed orders and refunds — who bears the cost

Customer refunds are handled under our Returns & Refunds Policy. Speedrop decides each case using the order records, rider confirmations, messages and photos from both sides. The table shows who bears the cost in common situations.

5. How we recover your share after a refund

• Because your share has usually already been settled to you (section 3), refunds are paid to the customer from Speedrop's own balance. Where the table in section 4 says your share is recovered, you owe that amount to Speedrop.
• We will notify you in writing (by email and in your dashboard) with the order ID, the amount and the reason. If you disagree, reply within 48 hours with your evidence and we will review it before recovering anything.
• We recover the amount by deducting it from your share of later orders. If it is not fully recovered that way within 14 days, we will send you an invoice, which you must pay by bank transfer within 7 days.
• If recoverable amounts remain unpaid after that, we may pause your store until they are settled. Persistent or high refund rates caused by your fault may lead to suspension or termination (section 7).

6. Your responsibilities

• Keep your menu, prices, opening hours and stock up to date, and accept or reject orders promptly.
• Prepare orders accurately, package them safely and have them ready for the rider on time.
• Give accurate business, identity (NIN) and bank details, and tell us promptly if they change.
• Do not ask customers to pay you outside Speedrop for orders placed on Speedrop.
• Follow the law, including food safety, consumer protection and tax rules that apply to your business.

7. Suspension and ending this agreement

You can stop selling on Speedrop at any time by contacting us. We may suspend or remove your store if you break this agreement or our policies, sell prohibited goods, give false information, or have repeated customer complaints caused by your fault. Amounts you owe under section 5, and settlements already due to you for completed orders, stay payable after the agreement ends.

8. Changes, law and contact

We may update this agreement. We will email you at least 14 days before a change that affects your commission, settlement or refund terms takes effect. If you keep accepting orders after that, you accept the change. This agreement is governed by the laws of the Federal Republic of Nigeria, and the courts of Lagos State have jurisdiction.

Questions: hello@speedrop.ng, or in writing to Techsharks Solution Ltd, No 2 Mosobalaje Street, Shagari Estate, Ipaja, Lagos, Nigeria.