Group participation agreement
The standard rules every member accepts before joining a Tovajo group. Each group adds its own amounts, schedule and policies.
How this agreement works
Before you join a group you see and accept that group's agreement. It combines these standard rules with the group's own settings: amount, schedule, payout order, grace period, late-payment and shortfall policy, and any fees. The accepted version is stored with the date and time you accepted it.
Your commitments
- Pay each contribution in full and on time, through the payment method your group agreed.
- Record each payment truthfully in Tovajo.
- If you receive a payout, keep paying your remaining contributions until the cycle or goal ends.
- Only confirm payments you have actually received, if you are an authorised confirmer.
Rotating Ajo circles
- The payout order is agreed by every member before the circle starts and is fixed for the cycle.
- A payout uses only contributions confirmed for that round. If there is a shortfall, the group's shortfall policy applies (for example, postponing the payout or paying out confirmed funds only).
- Changing the order, amount or schedule during a cycle needs the consent of every affected member.
Risk acknowledgement
Saving with other people carries risk. A member may stop paying, including after receiving an early payout. Tovajo records and shows missed contributions but does not guarantee any member's payments and does not cover shortfalls with its own money or other groups' money.
Leaving a group
You cannot silently leave a group once financial commitments have started. Leaving, or being removed, follows the group's rules and settles what you owe or are owed under this agreement.
Disputes
Members should first try to resolve disagreements within the group. Tovajo's records (who paid, who confirmed and when) are available to help. See complaints & disputes for how to escalate.
Cancellation
A group can be cancelled with the consent required by its agreement (unanimous by default for an active cycle). Contributions held for the group are settled back to the members who funded them, according to the agreement.