Exit Clause
For investors, exit strategies and other money management techniques can greatly enhance their trading by eliminating emotion and reducing risk. Before entering a trade, an investor is advised to set a point at which they will sell for a profit. We strongly recommend our investors to exit after hitting the target at which point, they are landowners! In case this is inevitable, and a member chose to withdraw, LCSL retains 20% of the total contributions for administrative fees and liquidated damages. Lesedi Developers Limited will also process title deeds under the clients name even before they complete making the payments so that those willing to get their title deeds as early are not delayed by others. In this case , when a member choses to withdraw, he or she will have to cater for all title deed processing fees.
- In these Terms and Conditions, “LDL” refers to the Lesedi Developers Ltd, as well as its successors in title and assigns. These terms and conditions (referred to as “the Terms”) govern individual rights and obligations and take effect when a member joins the Lesedi Club for Land (referred to as “LCL program “).
- LDL will regard any person (s) who joins LCL (whether a resident or a non-resident) to have read and understood these terms and conditions.
- All products delivered under the LCL are subject to the terms and conditions. Members must read and agree to these terms (governing membership) as well as any other existing agreement.
- LCL will ask for legitimate and accepted forms of identification (International Passport, Kenyan National Identity Card, Certificate of Incorporation, or Registration Certificate). Members should notify LDL in writing of any changes to their name, address, business name registration certificate, or certificate of incorporation (companies).
- Following receipt of properly completed Membership Forms and supporting papers, LDL will assign the applicant a Member Number under LDL’s membership acquisition policies and processes. LDL will then assign each member a unique number, which he must use in all correspondence with LDL.
- Members can only make payments through the official bank account (s) or digital platforms provided. LDL reserves always, the right to refuse payment made otherwise. The member should get and keep a receipt for every transaction as proof of payment.
- LDL will not be obligated to allow anybody to withdraw or transfer membership unless they produce a death certificate and a court order from a court of competent jurisdiction, or any other applicable document recognized by law for succession, upon receiving news of an individual Member’s death.
- LDL may give payment statements to an individual member or group upon request. LDL will take reasonable steps to ensure that it appropriately record the credit entries in the Member’s statement. The Member should report any mistake in the statement of account to LDL in writing within fourteen days after receipt of the statements, failing which LDL will reject the claim. In the event of an error, LDL reserves the right to adjust justified entries to correct the problem.
- Monthly instalments will start at Kes 10,000. LDL will notify Members if this requirement changes. Any failure or omission to keep such instalments may cause a penalty from LDL.
- If a member wishes to terminate his or her membership, he or she must return any documents or instruments supplied by LDL in connection with the membership. Before a refund, the Member will be responsible for membership withdrawal charges (20% of the raised amount).
- If LDL had initiated the title deed process at the point of withdrawal, the member will be responsible for the entire process cost.
- LDL may accept inevitable withdrawals. However, a Member MUST provide a notice in writing for not less than 60 working days.
- LDL and its affiliates commit to protecting the privacy of its members’ personal information. LDL will process any personal data it gathers from the Members under Data Protection Legislation and the Data Privacy Policy’s provisions.
- LDL may ask the Member for additional information when necessary.
- The Republic of Kenya’s laws governs these terms.
- LDL shall refer any dispute, difference, or controversy that may arise between the parties, including the interpretation of either party’s rights and liabilities, to an arbitrator under the rules of Kenya’s Arbitration (Amendment) Act 2009 or any statutory amendment or reenactment in force.
- A Member may file a complaint with LDL using any of the communication methods. Following that, LDL will react to your complaint within a reasonable timeframe.
