Terms and Conditions

New Economy Club (NEC) Terms and Conditions

Effective Date: 15 October 2024
Last Updated: 15 October 2024

By joining the New Economy Club (NEC), you agree to be bound by the following Terms and Conditions (“Terms”). These Terms govern your membership, participation in NEC programs, and referral processes. Please read them carefully.

1. Membership Terms

• Eligibility: Membership in NEC is available to individuals who:
  • Have received an invitation or referral from an existing member.
  • Pay the required once-off registration fee of R550.
  • Agree to comply with all NEC rules, policies, and these Terms.
• Membership Categories:

1. Ordinary Members: Members who have paid the membership fee and are entitled to participate in all club activities and benefits.
2. Referral Members and Leaders: Members who earn referral bonuses by successfully inviting new members to join NEC.

• Membership Benefits:
  • NEC offers members a variety of benefits including:
    • Grocery discounts, cashback on fast food, and online training courses.
    • Group discounts on goods and services such as airtime, travel, and entertainment.
    • Automatic participation in Helping Hearts International (HHI), with opportunities to significantly increase personal wealth while supporting charitable causes.
• Membership Duration: Membership begins once payment is confirmed and will remain active unless terminated by the member or NEC as described below.

2. Membership Fees

• Registration Fee: A once-off fee of R550 is required to join NEC.
• Non-Refundable Fees: All membership fees are non-refundable, except under exceptional circumstances determined solely by NEC.
• Late Payment: Failure to pay required fees within 90 days of the due date may result in termination of membership benefits or expulsion from NEC.

3. Referral Program

NEC encourages members to grow the club through referrals and rewards them with a referral bonus. The process is outlined below:

• Referral Bonus: You will earn R100 for each successful referral who:
  1. Completes the NEC membership registration.
  2. Pays the full R550 membership fee.
• Payment of Referral Bonuses:

• • Referral bonuses will be credited to the referring member’s NEC account after the referred member’s payment is confirmed.
  • NEC reserves the right to deny or delay referral bonuses if the referral process is found to be fraudulent or if there are discrepancies in the referred member’s application.

• Misuse of Referral Program: Any misuse or abuse of the referral program, such as creating fake accounts or fraudulent referrals, will result in forfeiture of referral bonuses and possible termination of membership.

4. Membership Responsibilities

• Compliance: Members agree to comply with all NEC rules and regulations as stated in these Terms, the Constitution of NEC, and any other relevant policies.
• Accurate Information: Members must provide accurate and up-to-date information when registering and referring others to NEC. False information may lead to membership termination.
• Non-Transferable: Membership in NEC is personal and non-transferable. Only the registered member is entitled to access NEC services and benefits.

5. Termination of Membership

• Voluntary Termination: Members may terminate their membership by providing written notice to NEC.
• Involuntary Termination: NEC reserves the right to terminate membership for:
  • Non-Payment: Failure to pay membership or other required fees.
  • Misconduct: Any action deemed harmful to NEC, such as violating these Terms or engaging in fraudulent activity.
• Effects of Termination: Upon termination, all membership benefits, including referral bonuses, will cease, and members will no longer be entitled to access any NEC services or programs.

6. Helping Hearts International (HHI) Participation

• NEC members are automatically enrolled in Helping Hearts International (HHI), which offers charitable giving opportunities and financial returns.
• NEC will manage HHI accounts on behalf of members until they are able to do so independently, or indefinitely for a small administrative fee.
• NEC is not responsible for any specific outcomes or losses associated with HHI participation.

7. Future Benefits

• NEC aims to expand its benefits through bulk-buying power and partnerships as membership numbers grow.
• Members will have access to exclusive discounts, products, and services negotiated by NEC on their behalf.

8. Limitation of Liability

• NEC is not responsible for any losses or damages incurred as a result of membership, including participation in third-party services such as HHI.
• Members agree to use NEC services at their own risk.

9. Privacy Policy

• NEC is committed to protecting your privacy. Personal information provided during the membership process will be handled in accordance with our Privacy Policy.
• By accepting these Terms, you agree to the collection, use, and sharing of your personal data as outlined in our Privacy Policy.

10. Amendments to Terms

• NEC reserves the right to amend or update these Terms at any time. Members will be notified of any significant changes via email or through the NEC website.
• Continued participation in NEC after any amendments to these Terms constitutes acceptance of the updated Terms.

11. Contact Information

For any questions regarding these Terms, the referral program, or membership details, please contact us:

Email: info@neweconomyclub.co.za