These Terms and Conditions govern your use of our online application, mobile application, and related services (the “Software”). By accessing or using the Software, you agree to be bound by these Terms and Conditions.

1.1 DEFINITIONS

1.1.1   “Digital Platform” means the Momentum internet website (accessed via www.momentum.co.za ) and/or the HustleNest App.

1.1.2   “Momentum” means Momentum Metropolitan Life Limited Registration number: 1904/002186/06, a company duly incorporated in terms of the laws of the Republic of South Africa, with its registered principle address at 268 West Street, Centurion, Gauteng.

1.1.3   “HustleNest App” means the proprietary software application designed, developed and made available by Momentum, and can be accessed via https://hustlenest.co.za or https://app.hustlenest.co.za/.

1.1.4  “Personal Information” means information as defined in the Protection of Personal Information Act 4 of 2013 (as may be amended from time to time), including Special Personal Information. It includes:

·   race, sex, gender, sexual orientation, pregnancy, marital status, nationality, ethnic or social origin, colour, age, physical or mental health, wellbeing, disability, religion, conscience, belief, cultural  affiliation, language and birth;

·       education, medical, financial, criminal or employment history;

·      any identifying number, account or client number, password, pin code, symbol, e-mail address, domain name or IP address, mobile device identifier, physical address, cellular phone number, telephone number or other particular assignment;

·        blood type, fingerprint or any other biometric information;

·        personal opinions, views or preferences;

·      correspondence that is implicitly or expressly of a personal, private or confidential nature (or further correspondence that would reveal the contents of the original correspondence);

·      the name of the person, if it appears with other Personal Information relating to such person, or if the disclosure of the name itself would reveal information about the person; provided that such Personal Information is not in the public domain or held by a public body and is publicly accessible.

1.1.5   “Software” means collectively: (i) online application, mobile application, platform, related programmes, tools, features and made available by  or is connected with Momentum (ii) all the contents of the software under this user agreement, including the object code form of the software; and (iii) upgrades, modified versions, updates, additions, derivative works and copies of the software, if any, in respect of which the rights are granted to you under this user agreement, whether accessed via the internet, mobile application or other platforms, together with any associated documents

1.1.6   “Platform Features” means the tools, functions, and services made available through the Digital Platform, which include the Investment Feature but exclude the Retirement Annuity itself. Platform Features may include, without limitation, invoicing tools, client experience ratings, community forums, time management tools, resource libraries, value-added financial planning tools, and the Investment Feature as defined in clause 1.1.7. The payment of

1.1.7   “Investment Feature” means the functionality within the Digital Platform that enables you to apply for, initiate, manage, and monitor contributions toward a Retirement Annuity with Momentum as defined in clause 1.1.8. The Investment Feature provides access to Momentum’s application and contribution process but does not alter, replace, or override the terms and conditions of the Retirement Annuity itself.

1.1.8    “Retirement Annuity” or “RA” means the regulated retirement savings product provided by Momentum and made available to you through the Investment Feature. The RA, including its terms, conditions, and requirements, is governed solely by the RA contract entered into between you and Momentum, which will be provided to you upon activation of your RA.

1.1.9    "Working day” means any day other than a Saturday, Sunday or public holiday in the Republic of South Africa.

1.1.10 “You” or “your” means the end user (either an individual or an entity) of the Digital Platform.

1.1.11 “Commencement Date” means the date on which the Digital Platform accepts your subscription application and grants you access to the Platform Features in accordance with clause 1.3.1.

 

1.2 CONDITIONS AND RIGHT OF USE

1.2.1    This user agreement is between you and Momentum. Momentum grants you a non-exclusive, non-transferable right to use the Digital Platform under the terms and conditions set out below. Users acquire no ownership rights. All rights not expressly granted are reserved by Momentum.  No agreement will be concluded between you and Momentum if you are under the age of 18 years.

1.2.2   You accept the right granted to you in terms of clause 1.2.1 above; are authorised only to use the Digital Platform for your own purposes in relation to this user agreement and shall not exploit it for commercial gain under any circumstances whatsoever; and acknowledge that you obtain no rights of ownership in the software whatsoever.

1.2.3   By using the Digital Platform, you acknowledge that you have read, understand, and expressly agree to the terms and conditions of this user agreement. In the event that you do not agree to these terms and conditions, please do not continue using the Digital Platform.

1.2.4    Regardless of the platform, gateway, portal or mode of access you use to install, download or access the Digital Platform, your cell phone provider may, depending on the type of contract you have, charge you for accessing the Digital Platform or for any usage of the Digital Platform (such as data charges and SMS charges). Momentum cannot be held responsible for these charges.

1.2.5    If you use the HustleNest App, then the following will apply:

1.2.5.1       There will be no charge for data usage except in the instances as set out in clause 1.2.5.2 below. This only applies when accessing the HustleNest App via your mobile data and not via WIFI.

1.2.5.2            Data charges will be incurred for and include but are not limited to, use of Google maps, if the HustleNest App is opened or accessed via VPN (Virtual Private Network), if analytic reports are generated, if you are using the HustleNest App outside of South African borders or in the case of any malicious use (see clause 1.6.2 below) of HustleNest App by a user.

1.2.5.3         Momentum in its sole discretion reserves the right to revoke the offering of no charge for data and may provide you with less than 24 hours’ notice of such cancellation.

1.2.6    Users agree to:

1.2.6.1  `Provide accurate and complete information when registering or using the Digital Platform

1.2.6.2        Use the Digital Platform only for lawful purposes and in compliance with South African Law

1.2.6.3            Not copy, modify, distribute, sell, ease or reverse engineer any part of the Software, or attempt to do so

1.2.6.4             Not use the Software in any manner that infringes on the rights of others or compromises security

1.3     ACCOUNTS AND SECURITY:

1.3.1      Users are responsible for maintaining the confidentiality of login credentials.

1.3.2      All activity under the User’s account is the responsibility of the User.

1.3.3      Momentum may suspend or terminate access if unauthorised use or security breaches are detected on your profile.

1.3.4      If you use the Digital Platform, you agree to keep your login details (your username and password) a secret and not allow any other person to use it. Should you enable and use fingerprint authentication to access the Digital Platform from your mobile device, you agree to take precautionary measures to keep your device safe from any unauthorised access.

1.3.5      You accept full responsibility for any activity/transaction that occurs under your login details, even if you have shared your username and password. Any use of your login details shall be regarded as if you were the person using such information.

1.3.6      When choosing a username and/or password, Momentum may specify certain requirements that you will need to meet. These requirements may change from time-to-time, and you may be required to update your credentials.

1.3.7      Momentum may refuse to provide products and/or services to you if we are unable to verify any information that you provide to us.

1.4     PRIVACY AND DATA PROTECTION

1.4.1    Momentum processes personal information in accordance with the Protection of Personal Information Act, 2013 (POPIA).

1.4.2    By using this app you agree that we may collect, use, share and store your personal information for the purpose of enabling the services provided through the platform ( including investment onboarding, transaction processing and regulatory compliance). Your use of this app constitutes acceptance of this processing and as reflected in detail in the Momentum Privacy Notice reflected in this link ( Momentum Privacy Policy).

1.4.3      You may request at no cost, confirmation whether we hold any personal information about you, a description of such information, and whether it has been shared with third parties. You may request correction or deletion of your personal information, and you may withdraw your consent in whole or in part, subject to applicable law and regulatory requirements. These POPIA rights may be exercised by using the form in the following link (POPIA Request).

1.4.4      You confirm that the information you provide is accurate and complete and you will notify us of any changes.

1.4.5      We may collect personal information from third-party’ sources such as credit bureaus, fraud prevention agencies or other financial institutions where it is necessary to do so.

1.4.6      We may share your personal information with the Momentum Group to ensure a consistent client experience, improve our services, and offer you products that are tailored for your needs. We may also have your personal information with third parties where required for the provision of the service, to comply with the law and to protect our legitimate interests.

1.4.7      Processing of your personal information may occur outside South Africa where necessary, in such cases, we apply appropriate safeguards.

1.5      ETA TERMS AND CONDITIONS

1.5.1    All transactions are done following the South African Electronic Communications Transaction Act (ECTA), Act No 25 of 2002. An Electronic Transaction Authority (ETA) allows Momentum Metropolitan Holdings to submit and process information electronically to communicate and conclude transactions. Your consent is given by providing your full name, identity number, email address, and cell phone number, as well as accepting the Terms and Conditions when creating a My Momentum online profile. You give Momentum permission to:

·       Verify details

·       Confirm transaction details electronically.

1.5.2    Momentum will treat all personal and transactional information as confidential and we will not share any information with third parties.

1.5.3    You accept the outcome of a transaction electronically communicated and as defined by Momentum. Any transaction that was accepted electronically by you will be binding.

1.5.4    Momentum will communicate sensitive or critical transactions to you in a secure manner and will let you know of security measures you must follow or that are required.

1.5.5    You must update your contact details when they change.

1.5.6    You may cancel this agreement in accordance with clauses 1.10.1 to 1.10.7. Please note that this may impact the effectiveness of continued service to you, and Momentum Metropolitan may set further requirements if you cancel this agreement or neglect to update your details.

1.5.7    Use of the Software constitutes electronic communications

1.5.8    Users consent to receiving communications from Momentum in Electronic form

1.5.9    An agreement is concluded electronically once the User accepts these Terms and Conditions

1.5.10  An electronic signature will be deemed to be valid when the method used to identify you and the method used to indicate your approval of the information communicated was reliable and appropriate having regard for the purposes for which the information was communicated. The following standards will be applied to establish if the electronic signature is acceptable:

·       Identification of the parties.

·       Positive act of acceptance.

·       Made under control of signer alone.

·       Connect the person signing and the signature to the document.

·       Visible, understandable, fair and have provable integrity (high evidentiary weight).

·       Verifiable whether it's impartially, forensically, or mathematically.

1.6       SUBSCRIPTION TERM AND BILLING

1.6.1    Subscriptions are contracted on a month‑to‑month basis and commence on the date the Digital Platform accepts your subscription application (“Commencement Date”) and continue until terminated in accordance with clauses 1.10.1 to 1.10.7.

1.6.2    The full subscription fee is payable monthly in advance on the billing date. By subscribing, you authorise the Digital Platform to debit the payment method supplied for all amounts due.

1.6.3    Stored credential transactions may be utilised for recurring debits until cancellation is effected in accordance with clauses 1.10.1 to 1.10.7.

1.6.4    If payment is not received on the billing date, the Digital Platform may suspend access to the Platform Features immediately until payment of the subscription fee is successfully processed.

1.6.5    If you have an active Retirement Annuity, Momentum’s RA terms and conditions regarding non‑payment will apply to the RA.

1.6.6    All paid subscription tiers include a recurring allocation toward a potential Momentum retirement investment. The allocation is determined by the subscription tier you select and processed in accordance with the Investment Feature application and approval procedures.

1.6.7    You must complete the Investment Feature onboarding process within the Digital Platform in accordance with clause 1.7.4.

1.7      PROVISION OF SERVICES AND DELIVERY

1.7.1    Subject to confirmation of payment of the subscription fee, you shall be granted immediate electronic access to all Platform Features in your chosen subscription tier, excluding the Retirement Annuity.

1.7.2    No physical goods are dispatched under any subscription.

1.7.3    A component of your monthly subscription fee, designated as the “Investment Portion,” is set aside for your potential investment in a Retirement Annuity through the Investment Feature. The allocation of the Investment Portion is contingent upon the subscription tier you select at the time of registration.

1.7.4    After registering for a paid subscription tier, you must complete Momentum’s onboarding questionnaire to initiate the RA application process. The application and any preliminary information will be transmitted to Momentum for assessment, during which additional documents may be requested. Once your application is successfully processed, you will receive an email containing a request for signature. Upon signing and returning the requisite documentation, the RA will be activated, and all Investment Portions of your subscription made since the Commencement Date will be allocated to the RA.

1.7.5    The RA shall come into effect only once Momentum has formally approved the application and you have executed the requisite acceptance documentation or process.

1.7.6    Until approval, the accumulated Investment Portion of your subscription will be held in a segregated, non-interest-bearing client money account. No rights or benefits accrue to you in respect of the RA prior to activation.

1.7.7    The Investment Portion will remain in the segregated account for a maximum of three (3) consecutive months during application processing. If the RA application is not completed or approved within that period, the accumulated Investment Portion of your subscription shall be refunded to your original payment method. No portion of such refund will be applied toward an RA investment.

1.7.8    Once the RA is active, withdrawals and access to invested amounts shall be governed solely by Momentum’s RA terms and conditions. The Digital Platform is not responsible for the assessment, approval, administration, investment management, or withdrawal processes relating to any RA. All such matters are governed by Momentum.

1.8      REFUNDS

1.8.1    Refunds are only available if you do not have an active Retirement Annuity.

1.8.2    Once an RA is active, all Investment Portions of your subscription are governed by Momentum’s RA terms and are not refundable through the Digital Platform.

1.8.3    If you do not have an active RA, refunds or reversals may be issued only in specific cases, including declined RA applications, verified duplicate charges, or processing errors.

1.8.4    In the event of a declined RA application, the Investment Portion of the subscription fee will be refunded to your original payment method within seven (7) business days of notification from Momentum. The Platform Fee portion of your subscription fee is non-refundable.

1.8.5    Verified duplicate charges or processing errors shall be refunded to your original payment method within seven (7) working days after validation.

1.8.6    No refunds will be provided for the Platform Fee portion of any subscription or for partially used subscription periods. References in clauses 1.9.5 and 1.10.7 to refund rules shall be interpreted in accordance with this clause (1.8.6).

1.9      PLAN MODIFICATION

1.9.1    You may upgrade or downgrade your subscription plan at any time.

1.9.2    Plan upgrades take effect immediately upon successful payment of the higher subscription fee, and any increase in the Investment Portion of your subscription fee will be applied with the next scheduled transfer to Momentum.

1.9.3    Plan downgrades become effective on the first day of the next billing cycle, and access to higher‑tier Platform Features remains available until that date. Plan downgrades must be submitted in writing to hustlenest@momentum.co.za  from the email address linked to your account. You are responsible for ensuring that your contact details remain accurate and up to date.

1.9.4    Depending on the new subscription tier, a downgrade may result in the cancellation of the RA, particularly if you move to the free (non‑subscription fee) tier. In such cases, a downgrade may constitute the suspension or cancellation of the Momentum RA. Momentum’s RA lapse rules will apply to any active RA policies.

1.9.5    No refunds are provided for the Platform Fee portion in the event of a plan downgrade. Refund rules shall be applied in accordance with clause 1.8.6.

1.10    CANCELLATION

1.10.1  Cancellation requests must be submitted in writing to hustlenest@momentum.co.za  from the email address linked to your account. You are responsible for ensuring that your contact details remain accurate and up to date.

1.10.2  Access to Platform Features will remain active until the end of the current billing cycle, after which access will be terminated.

1.10.3  If you have an active RA, Momentum’s RA policy rules shall apply: the RA will not automatically cancel upon subscription cancellation or non‑payment but will either lapse or be accessed in accordance with Momentum’s RA policies.

1.10.5  Unpaid contributions are handled in accordance with Momentum’s RA policy rules.

1.10.6  The Digital Platform is not responsible for RA withdrawals, refunds, or early access requests. These matters are governed entirely by Momentum.

1.10.7  Non-payment of subscription fees does not in itself constitute cancellation. In the event of non-payment, the Digital Platform may suspend access to the Platform Features in accordance with clause 1.6.4, and no Investment Portion will be allocated for any billing cycle in which the subscription fee is unpaid. If you have an active RA, the status of the RA is governed exclusively by Momentum’s RA terms and documentation. Refund rules shall be applied in accordance with clause 1.8.6.

1.11    CHANGES TO THIS USER AGREEMENT

1.11.1  Momentum reserves the right to change any of the terms and conditions contained in this user agreement at any time and in its sole discretion.

1.11.2  When Momentum makes changes, to Ts and Cs, you will be presented with the latest version (or notification that the Ts and Cs have been updated) the next time you access the Digital Platform. You will need to accept the updated Ts and Cs (or acknowledge that you are aware that changes have been made to Momentum’s Ts and Cs) before you can continue using the Digital Platform. Any changes will be effective immediately upon posting on the Digital Platform.

1.11.3 Your continued use of the Digital Platform following the posting of changes will constitute your acceptance of such changes. You undertake to review this user agreement whenever you visit the Digital Platform.

1.12    RESTRICTIONS ON LICENSE

1.12.1  You shall not (i) except to the extent as may be permitted by law, modify, translate, correct any error, defect or operating anomalies or create derivative works based on the Software and HustleNest App, nor reverse assemble, decompile or reverse engineer the Software and HustleNest App, whether in whole or in part, or otherwise attempt to derive the source code, underlying ideas, algorithms, file formats, programming of the Software and HustleNest App or any files contained in or generated by the Software and HustleNest App, nor shall you permit, whether directly or indirectly, any third party to do any of the foregoing; or (ii) sell, lease, encumber, sublicense, lend, transfer or assign the Software and HustleNest App to any other third party.

1.12.2 You must not misuse the Software and HustleNest App by introducing viruses, trojans, worms, logic bombs or any other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to the Software and HustleNest App. You are responsible for making all arrangements necessary for you to have access to the Digital Platform, and for ensuring that all persons who access the Digital Platform through your internet connection and or device are aware of the terms and conditions of this user agreement and that they comply with it.

1.12.3 You agree that you shall only use the Digital Platform in a manner that complies with all applicable laws in the jurisdiction in which you use the Digital Platform, including, without limitation, applicable restrictions concerning copyright and other intellectual property rights.

1.13    INTELLECTUAL PROPERTY RIGHTS

1.13.1 The Digital Platform, Software and HustleNest App, and all rights, including, without limitation, intellectual property rights therein, are owned by Momentum and/or its licensors and affiliates and are protected by international treaty provisions and all other applicable laws of the Republic of South Africa.

1.13.2  You agree that you have no intellectual property rights whatsoever in the Digital Platform, Software and HustleNest App. The structure, organisation, and code of the Software and HustleNest App are the valuable trade secrets and confidential information of Momentum and/or its licensors and affiliates.

1.13.3  You will notify Momentum of any claim which may be made alleging that the Software and HustleNest App infringe the intellectual property rights of a third party as soon as you become aware of any such actual or potential claim.

1.13.4 You shall immediately bring to the attention of Momentum any infringement or suspected infringement by any third party of any of the intellectual property rights in the Software and HustleNest App of which you are aware

1.13.5 The content on this digital platform, including all registered and un-registered trademarks are protected by copyright and owned by Momentum or third parties.

1.13.6  You may not copy, reproduce, display or use any intellectual property in any manner whatsoever without prior written consent from Momentum or the copyright owner.

1,13,7 Nothing contained on this digital platform should be construed as granting any license or right of use of any intellectual property.

1.14 DISCLAIMER

1.14.1 Although Momentum is committed to providing you with the best possible service you acknowledge that the Digital Platform is provided “as is” without warranty of any kind, express or implied, statutory or otherwise, and, to the maximum extent permitted by applicable law, neither Momentum, its licensors or affiliates, nor the copyright holders make any representations or warranties, express or implied, including, without limitation, to warranties of accuracy, reliability, title, merchantability, non-infringement, fitness for a particular purpose or any other warranty, condition, guarantee, or representation, whether oral, written or in electronic format, including but not limited to the accuracy or completeness of any information contained therein or provided by the Digital Platform and its services.

1.14.2  Momentum shall not be liable for any loss or damages (including without limitation consequential loss or damage) whatsoever from the use of, or reliance on the information contained in the Digital Platform.

1.14.3 The Digital Platform has not been written to meet your individual requirements and there is no warranty by Momentum or by any other party that the functions contained in the Digital Platform will meet your requirements or that the operation of the Digital Platform will be uninterrupted or error free.

1.14.4 You assume all responsibility and risk for the selection of the Digital Platform, Software and HustleNest App to achieve your intended results and for the installation, authentication methods to gain access, use, and results obtained from it.

1.14.5 The Digital Platform is provided by Momentum on an “as is” and “and available” basis. Momentum makes no representations or warranties (express or implied) regarding the Software. 

1.14.6  Momentum does not guarantee the operation of the Digital Platform and use thereof is at your own risk.

1.14.7 While Momentum is committed to exercising due care it does not guarantee that the Digital Platform, its tools and servers and/or systems are free from viruses or other harmful components.

1.14.8 To the maximum extent permitted by applicable law, Momentum, its employees and licensors shall not be liable to you or to any third party for any liability, losses, damages and/or costs or expenses whether special, direct, indirect and/or of a consequential nature including but not limited to loss of income, data, loss of profits, loss of business information, business interruption, death or personal injury caused by any nature whatsoever or arising out of the use of or inability to use the Digital Platform, any defect or error in the Digital Platform or any failure in the performance of the Digital Platform and you hereby indemnify Momentum against any such liability.

1.14.9  Momentum is committed to providing you with the best possible service but will not be held liable for:

1.14.9.1          Any interrupted, delayed or failed transmission, storage or delivery of information due to power failure, equipment or software malfunction, natural disasters, fire, labour unrest, or any other events, circumstances or cause beyond the reasonable control of Momentum;

1.14.9.2    Any inaccurate, incomplete or inadequate information supplied by you via the Digital Platform;

1.14.9.3        Any direct or indirect loss or damages relating to any events described in this clause or the clauses above, your actions or omissions that result in a breach of this user agreement, a denial of access to the Digital Platform should we believe that you are conducting activities that are illegal, abusive, would attack the integrity of the website or place Momentum in disrepute.

1.14.10  It is very important that you acknowledge and understand that:

1.14.10.1       Any information provided via the Digital Platform should not be regarded as either advice or an intermediary service in terms of the Financial Advisory and Intermediary Services Act of 2002. Please consult with your financial adviser should you require any advice, financial services or financial products;

1.14.10.2     If you have Momentum contracts, policies and/or other Momentum-related products, you will remain bound by the terms of such contracts and any specific conditions of use related thereto.

1.15    THIRD-PARTY WEBSITES

1.15.1  As a convenience to you, the Digital Platform may contain links to other websites belonging to and/or operated by third parties. These third-party websites are not under the control of Momentum and by making these links available, we are not endorsing these third-party websites, their content, products, services or the owners.

1.15.2  It is your responsibility to ensure that you obtain any information which may be relevant to making a decision, and that you read the privacy and security policy on such third-party websites. Momentum will not be liable for any loss or damage you suffer, whether directly or indirectly, as a result of your use of third-party websites and/or software. You agree that where you access third-party websites, you do so entirely at your own risk.

1.15.3 Momentum may from time-to-time employ third parties and or their software to assist with certain services and aspects of the Digital Platform. We make every effort to ensure that such third parties comply with our Privacy and Security policies and hold them accountable for any non-compliance.

1.15.4 Momentum seeks to protect the integrity of its website and the links placed upon it, and therefore requests feedback on not only our Digital Platform, but also such third-party websites.

1.16    GOVERNING LAW

1.16.1 This user agreement will be governed, construed and take effect in all respects in accordance with the laws of the Republic of South Africa. By accessing and using the Digital Platform, you agree that the laws of the Republic of South Africa will govern this user agreement, and you consent to the jurisdiction of the South African courts in respect of any dispute which may arise from this user agreement.

1.17 SYSTEM REQUIREMENTS

1.17.1  Momentum aims to provide you with as much information as possible about what to expect when using this digital platform. The digital platform has been built with the following browsers in mind:

Chrome (web and mobile)

Microsoft Edge

Safari  (web and mobile)

The digital platform makes use of JavaScript and cookies. You will need to have JavaScript enabled on your browser for the most effective digital platform usage.

1.17.2  Documents used on this digital platform are stored in PDF, .doc, .xlsx or .txt format. If you don’t have a PDF reader, you can download Adobe Reader for free from the Adobe website.