Terms of Service

New Economy Club (NEC) Terms of Service

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

Welcome to the New Economy Club (NEC). By joining and participating in NEC, you agree to abide by these Terms of Service (“Terms”). Please read them carefully as they govern your relationship with NEC.

1. Acceptance of Terms

• By registering for membership in NEC and using our services, you agree to these Terms, our Privacy Policy, and any other guidelines or policies referenced within these Terms.
• If you do not agree to these Terms, you may not use our services or participate in NEC.

2. Membership and Eligibility

• Membership is open to individuals who meet the eligibility criteria set forth by NEC, which includes paying the required membership fees and agreeing to comply with the Constitution of NEC.
• Members are categorized as:
  • Ordinary Members: Individuals who pay the membership fee and participate in club activities.
  • Referral Members and Leaders: Members who refer others into the NEC and earn referral bonuses.

3. Membership Fees and Payments

• A once-off registration fee of R550 is required to join NEC.
• Ongoing participation in NEC may require monthly subscription fees, as determined by the NEC leadership.
• Membership fees are non-refundable unless specified otherwise by NEC leadership.

4. Membership Rights and Privileges

• Ordinary Members have access to all club benefits, discounts, and educational resources.
• Referral Members are entitled to commissions or bonuses for successfully referring new members to the club.
• Only the six founding members have voting rights on matters that affect the governance, financial decisions, and structure of NEC.

5. Responsibilities of Members

• Compliance: Members agree to adhere to the rules and policies set out in the Constitution of NEC.
• Financial Integrity: Members are responsible for keeping their membership fees up to date and ensuring accurate payment information is on file.
• Referrals: If you refer new members, you are responsible for providing accurate information and ensuring that the individuals referred have a genuine interest in joining NEC.

6. Referral Program

If you wish to refer a friend or family member to NEC, follow this simple 4-step process:

1. Share NEC Information: Provide your referral with accurate details about the club’s services, including benefits, fees, and objectives.
2. Referral Link/Code: Share your personalized referral link or code with the person you’re referring.
3. Follow-Up: Encourage them to join using your referral link/code and complete the membership registration process.
4. Earn Referral Bonus: Upon their successful registration and payment, you will receive a R100 referral bonus.

7. Helping Hearts International (HHI) Participation

• All members of NEC are automatically enrolled in the Helping Hearts International (HHI) initiative, which facilitates donations for charitable causes while offering members significant financial returns.
• NEC assists members with HHI-related account setup, withdrawals, and management until members are fully equipped to manage their accounts independently.
• Members have the option to have NEC manage their HHI account indefinitely for a small administrative fee.

8. Future Plans

• As NEC membership grows, members will benefit from bulk-buying power, which allows the club to negotiate discounted deals on goods and services such as groceries, airtime, entertainment, and travel.
• Members may also enjoy further exclusive benefits and earning opportunities through expanded partnerships.

9. Termination of Membership

• Members may terminate their membership by submitting a written request to NEC.
• Membership may also be terminated due to:
  • Non-Payment: Failure to pay membership or subscription fees within 90 days of the due date.
  • Misconduct: Violations of the Constitution or actions that bring NEC into disrepute may result in expulsion from the club.

10. Privacy Policy

• Your privacy is important to us. Please refer to our Privacy Policy for detailed information about how we collect, use, and protect your personal information.
• By accepting these Terms, you also agree to the Privacy Policy.

11. Intellectual Property

• All content provided by NEC, including website materials, logos, and any other intellectual property, remains the property of NEC.
• Members may not reproduce, distribute, or exploit any NEC materials without express written consent.

12. Limitation of Liability

• NEC is not responsible for any losses or damages incurred as a result of membership, including participation in HHI or third-party services.
• Members agree to use NEC’s services at their own risk and acknowledge that NEC does not guarantee specific financial outcomes.

13. Governing Law

• These Terms and any disputes related to NEC membership will be governed by the laws of South Africa.

14. Amendments

• NEC reserves the right to modify these Terms at any time. Any changes will be communicated via email or on our website.
• Continued participation in NEC following any updates to these Terms constitutes acceptance of those changes.

15. Contact Us

For any questions regarding these Terms, membership, or other inquiries, please contact us at:

Email: info@neweconomyclub.co.za