Terms and conditions

1. The agreement

These terms govern your use of the LENCOE website, products and services, including our trading software, subscription services and signal delivery. Together these are called the Services. By using the Services you agree to these terms.

If you are agreeing on behalf of a company or other legal entity, you confirm that you have the authority to bind that entity.

2. Definitions

• Customer means any person or entity that registers for or uses LENCOE Services.
• Platform means the LENCOE web application, dashboards, APIs and related infrastructure.
• Subscription means paid access to the Services under a recurring billing plan.
• Documentation means user guides, API documentation and help material we provide.

3. What we provide

LENCOE provides software products including automated foreign exchange trading systems, trade signals, analytics dashboards, the NyViA support and sales system, and custom software development services.

Where the Services generate signals or execution instructions, all actual trading is carried out by your own linked broker or trading account.

4. Eligibility and accounts

You must be at least 18 years old and legally able to enter into contracts. When you register you agree to give accurate, current and complete information and to keep it up to date. You are responsible for keeping your account credentials secure and for all activity that takes place under your account.

5. Subscriptions and billing

Subscriptions are billed in advance on a recurring basis at the frequency you choose at checkout, whether monthly, quarterly or annually. You authorise LENCOE and our payment processor to charge your chosen payment method for those recurring fees and any applicable taxes or charges. Amounts are quoted in the currency shown on the Platform.

• Payment methods: the card processors and payment switches shown at checkout.
• Failed payment: if a payment fails we may suspend or end access until the account is brought up to date.
• Price changes: we may change prices for new subscribers with notice. Founding members on locked pricing keep their agreed rate.
• Delivery: subject to availability and receipt of payment, subscription requests are processed immediately and confirmed by automated email and dashboard access. See the delivery policy.
• Availability by country: the offering on this website is available to South African clients and to international users subject to their own local laws.

6. Refunds and cancellations

Subscription fees are not refundable except where the law requires it or where a specific promotional offer says otherwise. You may cancel future billing at any time through your account. Cancelling does not entitle you to a refund of fees already paid.

The provision of services by LENCOE (Pty) Ltd is subject to availability. Where a service is unavailable, LENCOE (Pty) Ltd will refund the client in full within 30 days. Cancellation of an order by the client attracts a 0% administration fee.

If a chargeback is raised, we may suspend or end the account and recover any resulting losses, including chargeback fees. Full detail is in our refund policy.

7. Payment processing

Payments are processed by our payment providers and their partnering banks. You agree to the relevant provider’s terms. Gateway, settlement and bank charges are borne by LENCOE unless stated otherwise at checkout. We are not responsible for payment provider delays, reversals or processing errors beyond our reasonable control.

• Payment options accepted: Visa, Mastercard, Diners or American Express cards, or bank transfer into the LENCOE (Pty) Ltd bank account.
• Card acquiring and security: card transactions are acquired for LENCOE (Pty) Ltd via Payfast by Network, an approved payment gateway for South African acquiring banks. Payfast uses strong encryption and no card details are stored on our website. Security policies can be viewed at payfast.io.
• Customer details kept separate from card details: your customer details are stored by LENCOE (Pty) Ltd separately from card details, which you enter on the payment provider’s own secure site.
• Merchant country and currency: the merchant outlet country at the time of presenting payment options is South Africa, and the transaction currency is South African rand.
• Responsibility: LENCOE (Pty) Ltd takes responsibility for all aspects of the transaction, including the sale of goods and services sold on this website, customer service and support, dispute resolution and delivery.

8. Risk

All trading and investment activity carries risk. The Services provide information and automation. They do not guarantee profits and they cannot prevent losses. You remain fully responsible for every trade executed on your accounts, including any losses. Using the Platform means you acknowledge these risks.

9. Your obligations

• Keep your account credentials and API keys confidential.
• Make sure any broker connection or trading account you use with the Platform is legally permitted and correctly configured.
• Comply with all applicable laws, rules and broker terms when using automated trading features.
• Do not use the Services to break the law, to interfere with our systems, or to gain access you are not entitled to.

10. Intellectual property

All intellectual property rights in the Services, our code, models, documentation and branding belong to LENCOE or our licensors. As a subscriber you receive a limited, non-exclusive, non-transferable licence to use the Services for your own trading activity. You may not copy, modify, distribute, reverse engineer or create derivative works from LENCOE intellectual property without our prior written consent.

11. Custom development

Custom software development is not covered by these subscription terms. Each development project is governed by a separate written agreement covering scope, price, milestones, warranties and ownership.

Under those agreements, ownership of the source code we write specifically for your project transfers to you, together with your data and the project documentation. Where a project uses third party or open source components, those remain subject to their own licences, and we tell you which ones apply before work starts.

12. Third parties

The Platform may connect to third party services such as brokers, liquidity providers, analytics tools and hosting providers. Those parties are not under our control and we are not liable for their acts or omissions. Their services may be subject to separate terms.

13. Data and privacy

How we handle personal information is set out in our privacy policy. By using the Services you consent to the collection and processing of personal information as described there. LENCOE (Pty) Ltd takes all reasonable steps to protect personal information as defined in the Protection of Personal Information Act 4 of 2013.

14. Limitation of liability

To the maximum extent the law allows, LENCOE and its affiliates, officers, employees, agents and partners are not liable for indirect, incidental, special, consequential or punitive damages, including loss of profits, trading losses, loss of data or business interruption, arising from or connected with the Services.

Our total liability for any claim under these terms is limited to the amount you paid LENCOE in the 12 months before the claim arose.

Nothing in these terms excludes liability that cannot lawfully be excluded, including liability for fraud or for death or personal injury caused by negligence.

15. Indemnity

You agree to indemnify and hold LENCOE and its officers, directors, employees and agents harmless from any loss, claim, demand, liability or expense, including legal fees, arising from your use of the Platform, your breach of these terms, or your breach of any law or third party right.

16. Suspension and termination

We may suspend or end an account for breach of these terms, unlawful activity, excessive chargebacks, suspected fraud, or at our discretion with notice. After termination we may delete content and data associated with the account following a commercially reasonable retention period. Charges already incurred remain payable.

17. Events outside our control

We are not liable for failure to perform because of events beyond our reasonable control, including natural events, network outages, cyber incidents, pandemics, industrial action, government action and third party service failures. We will make reasonable efforts to restore the Services and to notify affected customers.

18. Governing law and jurisdiction

18.1 Governing law

These terms, including any non-contractual obligations arising from them, and the relationship between you and LENCOE, are governed by and interpreted according to the laws of the Republic of South Africa.

18.2 Resolving a dispute in good faith

If a dispute, controversy or claim arises out of or in connection with these terms, the parties will first try in good faith to resolve it by negotiation between senior representatives. If it is not resolved within 30 days of written notice of the dispute, the parties will try in good faith to settle it by mediation in Cape Town, Western Cape, South Africa, administered by a mutually agreed mediator. The costs of mediation are shared equally unless agreed otherwise in writing.

18.3 Courts

Subject to clause 18.4, each party irrevocably submits to the exclusive jurisdiction of the courts of Cape Town, Western Cape, South Africa for any dispute not resolved under clause 18.2.

18.4 Urgent relief

Despite clauses 18.2 and 18.3, LENCOE may choose to seek interim, injunctive or other urgent relief in any court of competent jurisdiction, including outside South Africa, to protect its rights or property, without first going to mediation or to the courts of Cape Town. Doing so does not waive its right to have other disputes heard exclusively by the courts of Cape Town.

18.5 Costs and enforcement

The prevailing party in any proceedings is entitled to recover its reasonable legal costs and disbursements from the other party, subject to the rules of the relevant forum. A final judgment or award is binding and may be enforced in any other jurisdiction.

18.6 Jury trial

Except where public policy or mandatory local law requires otherwise, the parties expressly waive any right to a jury trial and agree that disputes will be determined by a court of competent jurisdiction under this clause.

18.7 Domicile

This website is governed by the laws of South Africa. LENCOE (Pty) Ltd chooses as its domicilium citandi et executandi for all legal purposes: Ronelle Street, Cape Town, 7550, South Africa.

19. Notices

Legal notices must be in writing and delivered to the addresses shown on our Platform or otherwise provided. Notices to LENCOE should be sent to info@lencoefx.com or to Ronelle Street, Cape Town, 7550, South Africa.

20. Changes to these terms

We may update these terms to reflect changes in our business, the law or our technology. We will give notice of material changes through the Platform or by email, and continued use after that notice means you accept the updated terms. LENCOE (Pty) Ltd may change this agreement or any part of it at its sole discretion.

21. General

• These terms, together with our privacy policy and any documents referred to in them, form the entire agreement between you and LENCOE about the Services.
• If any provision is held to be invalid, the remaining provisions stay in force.
• If we do not act on a breach, that does not mean we waive our right to act on a later one.
• You may not transfer your rights under these terms without our written consent.

22. Contact

• Email: info@lencoefx.com
• Phone: +27 61 531 5074
• Address: Ronelle Street, Cape Town, 7550, South Africa