Rural Root Funds Terms and Conditions

1. Membership:

   • Each group consists of five farmers.
   • All members must be registered and approved by Farmbid.

2. Fund Allocation:

   • Funds are distributed sequentially to each member.
   • Each member holds the funds for a specified period, agreed upon by the group.

3. Repayment:

   • Members must repay the full amount within the agreed period.
   • The total amount must be returned to Farmbid after 10 months.
   • Failure to repay within 10 months will result in legal action.

4. Usage of Funds:

   • Funds must be used for approved farming-related activities.
   • Misuse of funds will result in disqualification and possible legal action.

5. Meetings and Record Keeping:

   • Regular meetings are mandatory to review progress and address issues.
   • Detailed records of fund usage and repayments must be maintained.

6. Conflict Resolution:

   • Disputes must be resolved within the group or escalated to Farmbid for mediation.

7. Accountability:

   • Members are collectively responsible for ensuring timely repayments.
   • Any default impacts the entire group’s future funding eligibility.
   • The group is responsible for the safety of the funds.

8. Ownership and Claim:

   • The funds belong to Farmbid and can be claimed back at any given time.

9. Non-Lending Statement:

   • We are not lenders but are here to support farmers, and we do not take interest.

10. Termination:

    • Failure to adhere to terms and conditions may result in termination of membership and fund access.

By participating, all members agree to abide by these terms and conditions, promoting financial discipline and community support.