Terms and conditions of sale

1.Purpose

These General Terms and Conditions of Sale (GTCS) define the conditions under which GT WESTA L.L.C-FZ (hereinafter referred to as “GT-West Africa”) offers private individuals and professionals (hereinafter referred to as “the Participants”) the possibility of financing the acquisition of mining equipment and receiving rental income under a management lease.

2. Company identification

GT-West Africa is a company specializing in the acquisition, operation and management of mining transport equipment.

  • Legal name: GT WESTA L.L.C-FZ
  • Legal form: Limited Liability Company (LLC)
  • License number: 2423018.01
  • Head office: Meydan Grandstand, 6th floor, Meydan Road, Nad Al Sheba, Dubai, U.A.E.
  • Legal representative: Mohamed Bayo, CEO
3. Acceptance of T&Cs

Acceptance of these terms and conditions is a prerequisite to any participation in the projects offered by GT-West Africa. By validating their participation, Participants acknowledge that they have read them and accept them unreservedly.

4. Conditions of access to services

Access to the services is reserved for people of legal age, who are legally capable and have the necessary funds to make their contribution. The Participant must provide accurate and up-to-date information at the time of participation.

5. Financing and purchasing process

Each time a machine is financed, the following steps are taken:

  1. The Participant reserves his/her participation via the GT-West Africa website. The Participant has the option of paying his/her contribution immediately by credit card or bank transfer within 72 hours.
  2. At the same time, the Participant signs a pre-contract to participate in the financing of a mining machine, giving GT-West Africa a mandate to acquire the machine and setting out the terms and conditions of participation in the financing of the machine.
  3. Once the total amount of financing has been reached, GT-West Africa acts as an intermediary, taking care of the acquisition, inspection, transport to the operating site and administrative formalities.
  4. All participants sign a confidentiality agreement, a co-ownership contract and a lease-management contract.
  5. Once the machine is in operation, rental payments are accumulated and paid quarterly to the Participants in accordance with the management lease contract.
6. Terms and conditions of participation

Participants can contribute to the financing of the machines according to fixed amounts determined on the GT-West Africa website.

The Participant may pay his/her contribution by credit card, directly online on the website, or by bank transfer to the account designated by GT-West Africa. Any bank charges and exchange fees will be borne by the Participant.

Upon receipt of the Participant’s contribution, GT-West Africa will issue an invoice attesting to the amount received, thus confirming the Participant’s contribution to the financing of the vehicle. In the absence of payment within 72 hours, GT-West Africa reserves the right to cancel the Participant’s participation.

7. Closing of financing and acquisition of machine

The financing will be considered closed once the total amount for the purchase of the machine has been reached. The amount required for each machine is indicated on the website. GT-West Africa will notify the Participant in writing of the closing and next steps.

As soon as the financing of the machine is closed, GT-West Africa undertakes to acquire the machine in accordance with the agreed specifications, to have it inspected by an independent expert, to take care of the administrative formalities and to transport it to its place of operation within 3 months of purchase, subject to a delay due to exceptional circumstances beyond its control and duly communicated to the Participant.

GT-West Africa undertakes to keep the Participant informed of the progress of the stages, from purchase to delivery of the machine, including the estimated date of commissioning at the place of operation. This information will be communicated regularly by any means, in particular via the e-mail address communicated by the Participant at the time of participation in the financing of the machine.

8. Refund in the event of non-fulfilment

If the total amount required for the acquisition of the vehicle is not reached within 3 months from the date of launch of the financing of the vehicle on the website, GT-West Africa will reimburse the Participant in full the amount paid, without costs or penalties, unless the Participant explicitly agrees to transfer his participation to the financing of a current or future vehicle. In this case, an amendment to the pre-contract will be signed.

Reimbursement will be made by bank transfer to the Participant’s account within 45 days of the decision to close the contest without purchasing the gear.

9. Income and payments

Co-owners receive quarterly rental payments calculated on the basis of revenues generated by the operation of the equipment. The length of time for which these rentals are paid varies according to the equipment financed. This period is specified in the various contracts governing the relationship between GT-West Africa and the co-owners, and between the co-owners themselves.

10. Responsibilities

GT-West Africa acts as an intermediary in the management of the co-owners’ holdings, and then as lessee-manager for the operation of the machines. GT-West Africa undertakes to ensure optimum management of the machines, but cannot be held responsible for any risks associated with operation or any fluctuations in income due to causes beyond its control (natural disasters, local regulations, market fluctuations, etc.).

11. Personal data protection

GT-West Africa collects and processes investors’ personal data in accordance with applicable regulations. The information provided will not be transferred to third parties without prior consent.

12. Modification of the GTC

GT-West Africa reserves the right to modify these terms and conditions at any time. All modifications will be notified to the co-owners via the website or by email.

9. Applicable law and jurisdiction

These GTC are governed by the laws of the United Arab Emirates, where the company’s registered office is located. In the event of a dispute, the parties shall endeavor to reach an amicable solution. Failing this, the dispute will be referred to the competent courts of Dubai.

10. Contact

If you have any questions about these terms and conditions, please contact GT-West Africa at the following email address: [email protected]