Terms & Conditions

1. Introduction

Ubuntu Commodities Exchange ("EACE", "we", "us", "our") is a digital commodity trading platform facilitating agricultural trade between buyers and sellers across Uganda, Kenya, Tanzania, Rwanda, and the Democratic Republic of Congo. EACE operates as a neutral intermediary, providing price discovery, escrow services, logistics coordination, and supply-chain traceability and delivery verification.

These Terms govern all use of the EACE platform, including but not limited to the price board, trade inquiry system, escrow payment system, and all associated services. EACE does not operate as a licensed financial institution. Services described herein are facilitation services only.

2. Definitions

• Platform — The EACE website, traceability systems, and associated tools.
• Trader / User — Any person or entity accessing the Platform, whether as buyer, seller, or inquirer.
• Trade — A confirmed commodity transaction between a buyer and seller, registered on the Platform with a unique trade reference.
• Escrow — EACE’s dedicated escrow bank account in which buyer funds are held between deposit and delivery confirmation.
• QR Code — A unique machine-readable code attached to each commodity bag or shipment, used to verify receipt and authorise escrow release.
• Traceability Chain — The digital ledger on which EACE records lot provenance: origin, grading, certification and delivery events.
• Platform Commission — The fee charged by EACE on each completed trade, as specified in Section 3.

3. Platform Commission

How the commission is applied

When a buyer deposits funds into escrow, the full agreed trade value is locked. Upon delivery confirmation (via QR code scan or platform arbitration), funds are released as follows:

Example

Logistics costs are determined by EACE based on shipment origin, destination, weight, and prevailing carrier rates. The logistics cost is communicated to both parties after the trade is funded and before shipment commences.

4. Escrow & Payment System

EACE operates a bank-held escrow system. Buyer funds are deposited by bank wire into EACE’s dedicated escrow bank account, where they are ring-fenced from EACE operating funds and are not released to the seller until delivery is confirmed or a dispute is resolved.

Deposit

The buyer wires the full agreed trade value to EACE’s designated escrow bank account, quoting the unique trade reference in the payment narration. EACE finance confirms receipt within 1–2 business days (EAT). A trade is funded only once the wire has been received and matched to its trade reference. EACE does not accept cash deposits or cryptocurrency payments.

Fund lock period

Funds remain locked until one of the following occurs: (a) the buyer scans the delivery QR code confirming receipt, (b) the buyer manually confirms delivery via the platform, (c) the 7-day dispute window expires and no dispute is raised, or (d) a dispute is resolved by EACE arbitration. Upon release, EACE wires the seller’s payout (less commission and logistics costs) to the seller’s verified bank account, typically within 2 business days.

Auto-release

If the buyer does not confirm delivery and does not raise a dispute within 7 calendar days of the confirmed delivery date, EACE may trigger an auto-release of funds to the seller. Buyers are responsible for confirming receipt promptly.

Currency and conversion

The platform displays indicative prices in Ugandan Shillings (UGX) for reference. Escrow deposits and seller payouts are denominated in the currency agreed at trade confirmation (typically USD or UGX). Where conversion is required, the prevailing bank rate on the date of transfer applies. EACE is not responsible for exchange rate fluctuations between the time of price display and the time of trade execution.

5. Logistics & Shipping

Logistics management

EACE coordinates all collection, handling, storage, packaging, transportation, and delivery of commodities for trades conducted through the platform. This includes:

• Collection from the seller's stated delivery point (farm gate, warehouse, or processing facility)
• Quality inspection and grading verification at point of collection
• Packaging or repackaging as required for safe transport
• Attachment of the unique QR code label to commodity bags or containers
• Transport to buyer's stated delivery address within the East African region
• Delivery confirmation process coordination

Logistics cost

Logistics costs are borne by the seller and are deducted from the seller's payout at escrow release. The logistics cost is determined after the trade is funded and communicated to both parties before shipment. Sellers should factor logistics costs into their agreed trade price.

Risk and liability

EACE holds cargo insurance for goods in transit. In the event of loss or damage during transit, EACE's liability is limited to the insured value of the shipment. EACE is not liable for losses arising from acts of God, border delays, regulatory seizure, or events beyond EACE's reasonable control.

Timeline

Indicative delivery timelines are provided at time of logistics confirmation. EACE does not guarantee delivery by any specific date. Delays caused by customs, weather, or carrier disruption do not constitute grounds for dispute against EACE.

6. QR Code Delivery Verification

Every commodity shipment processed through EACE bears a unique QR code label. The QR code contains a cryptographic reference registered on the EACE traceability system at trade creation. This mechanism ensures that only the physical recipient of the correct shipment can confirm delivery and authorise fund release.

How it works

• At trade creation, EACE generates a unique QR payload and stores its cryptographic hash on the EACE traceability system.
• The physical QR label is attached to the commodity bag or pallet by EACE logistics staff before dispatch.
• On receipt, the buyer opens the EACE platform, navigates to "Confirm Delivery", and scans the QR code using their device camera.
• The platform verifies the scanned payload against the registered value on the traceability system.
• On successful verification, EACE finance releases funds from the escrow account as described in Sections 3 and 4.

Buyer responsibility

Buyers must inspect the QR label before scanning. By scanning the QR code, the buyer confirms that they have received the goods described in the trade and that the goods are in acceptable condition. Scanning the QR code constitutes irrevocable confirmation of delivery. Disputes cannot be raised after a QR scan has been submitted and verified.

Lost or damaged QR labels

If the QR label is damaged or missing upon delivery, the buyer must not sign for or accept the goods without first contacting EACE. EACE can reissue delivery confirmation through platform arbitration after investigation.

7. Disputes

Grounds for dispute

A buyer may raise a dispute if: (a) goods are not received within the communicated delivery window, (b) goods received do not match the commodity, grade, or quantity specified in the trade, (c) goods are damaged, spoiled, or contaminated, or (d) the QR label is missing or appears to have been tampered with.

Dispute window

Disputes must be raised within 7 calendar days of the confirmed delivery date. Disputes raised after this window will not be accepted, and funds will be auto-released to the seller.

Process

EACE will acknowledge all disputes within 24 hours and complete arbitration within 10 business days. EACE may request photographic evidence, inspection reports, or other documentation. EACE's arbitration decision is final and binding on both parties. In the event of a valid dispute, EACE may issue a full or partial refund to the buyer from the escrowed funds.

Dispute fee

If EACE finds a dispute to be frivolous or raised in bad faith, EACE reserves the right to charge an administrative fee of up to 1% of the trade value to the buyer, deducted from any refund due.

8. Traceability Technology

EACE records lot provenance — origin, grading, certification, custody transfers and delivery events — on a digital traceability ledger. These records are tamper-evident and are used to verify lot authenticity and support dispute resolution. Traceability records do not hold or move funds; all payments flow through EACE’s bank-held escrow system described in Section 4.

Traders do not require a crypto wallet, tokens, or any blockchain knowledge to use the Platform.

9. User Obligations

All users of the EACE platform agree to:

• Provide accurate and truthful information in all inquiries and trade registrations
• Ensure that goods offered for sale meet the grade and quality standards claimed
• Hold valid legal title to any commodity offered for sale
• Comply with all applicable export, import, phytosanitary, and customs regulations in their country
• Not engage in market manipulation, price collusion, or fraudulent misrepresentation
• Not use the platform for money laundering, sanctions evasion, or any illegal purpose
• Maintain the confidentiality of their account credentials
• Notify EACE immediately of any suspected unauthorized use of their account

EACE reserves the right to suspend or permanently ban users found to be in violation of these obligations, without refund of any fees paid.

10. Price Information

Prices displayed on the EACE platform are indicative reference prices based on international commodity futures data (Arabica Coffee: ICE New York KC=F via Yahoo Finance; Robusta Coffee: ICE London; others: market surveys and EACE differentials) plus applicable Uganda differentials, logistics cost estimates, and EACE platform markup.

Displayed prices include a platform service markup of approximately USD $1 per kilogram or liter on weight/volume-based commodities, and applicable per-head markups on livestock. These markups support platform operations and are reflected in all displayed prices.

Prices are updated daily and are indicative only. Actual trade prices are agreed between buyer and seller at time of trade creation. EACE does not guarantee that any commodity is available at the displayed price. Historical price charts are for informational purposes and do not constitute investment advice.

11. Prohibited Activities

The following are strictly prohibited on the EACE platform:

• Listing commodities that the seller does not own or does not have authority to sell
• Misrepresenting commodity grade, origin, certification, or quantity
• Attempting to interfere with the traceability system or delivery verification
• Creating multiple accounts to circumvent trade limits or bans
• Using the platform to transact in prohibited, sanctioned, or controlled goods
• Scraping platform data for commercial use without written permission from EACE
• Impersonating EACE staff or other traders
• Attempting to conduct trades outside the EACE escrow system while using EACE-facilitated introductions

12. Limitation of Liability

To the fullest extent permitted by applicable law, EACE's total liability to any trader in connection with any trade or use of the platform shall not exceed the amount of EACE commission actually received on that specific trade.

EACE is not liable for: indirect or consequential losses, loss of profit or revenue, commodity price fluctuations, force majeure events, third-party technology or infrastructure failures, or losses arising from a trader's failure to comply with these Terms.

The platform is provided "as is". EACE makes no warranty that the platform will be uninterrupted, error-free, or free from security vulnerabilities. Traders use the platform at their own risk.

13. Governing Law & Jurisdiction

These Terms are governed by the laws of the Republic of Uganda. Any dispute arising out of or in connection with these Terms that is not resolved through EACE's internal dispute process shall be submitted to the exclusive jurisdiction of the courts of Uganda located in Kampala.

For cross-border trades, parties agree that Uganda law governs the contractual relationship with EACE, without prejudice to any mandatory consumer protection laws applicable in the trader's country of residence.

EACE reserves the right to amend these Terms at any time. Amended Terms take effect 14 days after publication on the platform. Continued use of the platform after that date constitutes acceptance of the amended Terms.

14. Contact & Support

For trade inquiries, dispute escalation, logistics coordination, or general support, contact EACE at:

EACE aims to respond to all inquiries within 1 business day (East Africa Time, GMT+3).