These are the terms and conditions you must agree to prior
to using our services.
This User Agreement (“Agreement”) is a contract between you
and Webkudi Web (Owners of Webkudi) that applies to your use
of the Webkudi third-party payment processing service and
any related products and services (“Service”) available
through Webkudi.com (“Site”).
If you do not agree to be bound by the terms and conditions
of this Agreement, you may not use this Site or any of the
Services.
Webkudi reserves the right to amend this Agreement at any
time by posting a revised version on this website. Except if
otherwise stated, all amendments shall be effective thirty
(30) days after publication on this Site. Notice of upcoming
changes will be posted on our website and on notification
pages posted in your Webkudi.com account.
In this Agreement, “you” or “your” means any person or
entity (“Users”) using the Service. Unless otherwise stated,
“Webkudi Web “, “Webkudi”, “we” or “our” will refer
collectively to Webkudi Web Solution and Holdings, its
officers, directors, agents, subsidiaries, joint ventures,
employees and suppliers.
The terms of this Agreement are deemed to be part of the IO
and the IO terms are deemed to be part of this Agreement. In
the event of any conflict between the IO terms and these
terms, those of the IO will prevail but only to the extent
necessary to resolve the conflict. No other terms will apply
unless agreed by both parties, placed in writing and duly
executed by each party.
1.0 Eligibility
Both Sellers and Buyers of products and services
(“Products”) can use the Service. Unless otherwise stated,
all provisions in this Agreement apply to both Sellers and
Buyers.
You agree that any information you give to us (“User
Information”) will stay in our records until termination of
this Agreement, for whatever reason, in which case such
information will be removed from our systems and/or returned
to you and/or destroyed. .
You agree that we do not need additional consent to store,
use and transmit data to third parties provided that this is
strictly necessary for the performance of our customer
support duties as agreed and as part of due diligence for
detection of money laundering and terrorist funding and
subject to any Data Protection or terms agreed herein
relating to the confidentiality of information.
1.1 Warranties
You represent and warrant that all of the following are true
of you from your entry into this Agreement until the
termination of your Account:
If you are an entity other than an individual, you have the
legal capacity to enter into this Agreement and perform the
obligations represented within it.
If you are an individual, then you are at least 18 years of
age and do not require the consent, approbation or approval
of any other person or entity to conclude a contractual
obligation of the type represented in this Agreement.
Your execution of and performance under this Agreement in no
way violates any legal obligation of the Seller, including
any agreement between or among Seller(s) and any third
party(ies).
If you are a Seller, you sell through your website only
Products and/or services that are available for delivery in
the normal course of your business.
You offer Products and/or services for sale only if you have
the legal right to market and sell such Products and/or
services in all applicable jurisdictions.
You maintain the value and reputation of Webkudi to the best
of your ability.
You conduct your business affairs according to the terms and
intent of this Agreement and in compliance with all
applicable laws and regulations.
You do not use our Services for any activities considered
fraudulent or illegal under any laws or regulations in any
applicable jurisdiction.
You do not permit or authorize any other person or entity to
use our Services without our written consent.
You do not permit or authorize any other person or entity to
use our Services without our written consent. If you are a
Seller, you have had ample opportunity to obtain legal
advice regarding the legal effects of this Agreement. You
can deliver your full legal name, street address, telephone
number and email address by postal mail or email to your
Buyer(s) and grant Webkudi access to records of this
correspondence.
You will refrain from using abusive and vulgar language with
Webkudi employees, whether through email, support ticket,
blog comments or phone support. Abusive conduct will not be
tolerated and will result in account termination.
2.0 Liability
2.1 Our Liability
If you have a dispute with one or more Users, you release
Webkudi from any and all claims, demands and
actual/consequential damages related to your transaction(s)
with said User(s) unless this results from wrongful or
negligent acts attributable to us. We provide our services
“as is” without any warranty or condition.
Webkudi makes reasonable efforts to ensure that requests for
electronic debits and credits involving bank accounts,
credit cards and check issuances are processed promptly. We
make no representations or warranties regarding the amount
of time needed to complete transactions because our Service
is largely dependent upon many factors outside of our
control.
Under no circumstances will we be liable for any lost
profits, special, incidental or consequential damages
arising out of or in connection to the Site, our Service or
this Agreement. Some jurisdictions do not allow the
exclusion or limitation of incidental or consequential
damages so the above limitation or exclusion may not apply
to you. Under no circumstances shall our liability to you
exceed the amount of the revenue earned from transactions
carried out by you in the three months prior to the event
leading to liability.
You agree to indemnify and hold Webkudi harmless from any
claim or demand, including attorneys’ fees, made or incurred
by any third party due to or arising out of your breach of
this Agreement, by the documents it incorporates or by your
violation of any law or third-party rights related to your
use of the Service.
You agree that if either you or Webkudi begin litigation or
arbitration, the prevailing party is entitled to recover
reasonable attorneys’ fees and any other costs incurred in
addition to any other relief to which the prevailing party
may be entitled.
You agree to indemnify and hold Webkudi harmless for
unauthorized transactions done through Webkudi. It is very
important to contact us immediately if you believe your
account has been compromised or if someone has transferred
money through your account without your permission.
Notifying us as soon as
possible will limit your liability.
2.2 Your Liability
If you do not report unauthorized transactions in your
Webkudi account, you will be liable for any resulting
damages. We will do what we can to recover the funds, but if
we are unable to recover them, you will assume
responsibility for the losses.
Your Webkudi account is protected by a password. As long as
you keep the password confidential, no one will be able to
access the funds or information in your Webkudi account. If
a member shares their password with others or allows others
to discover and use their password with the account, the
account holder is giving access to the funds and information
in the account and assumes all responsibility for
transactions in this account.
Please note that all activities performed on your account
while logged in will be assumed to be performed by the
account holder. The account holder also understands that
delegating authority to operate his account also amounts to
ownership of any and all activities performed on his
account. This includes but not limited to;
Integrations and configurations
Business registration and verification
Transactions
Account settings
Use of Webkudi’s business solutions.
Note that any User must be logged in to perform business
verification.
You are responsible for performing your due diligence on any
Sellers with whom you plan on doing business. If you neglect
to perform due diligence on a Seller and do not receive an
item you paid for or receive an item that does not appear as
the Seller described it, you will be liable for any
resulting damages. However, if you file a transaction
dispute, we will do our best to mediate a resolution that
will benefit all parties involved.
Under no circumstances will you be liable for any lost
profits, special, incidental or consequential damages
arising out of or in connection to this Agreement. Some
jurisdictions do not allow the exclusion or limitation of
incidental or consequential damages so the above limitation
or exclusion may not apply to us. Under no circumstances
shall your liability to us exceed the amount of the revenue
earned from transactions carried out by you in the three
months prior to the event leading to liability.
You agree to indemnify and hold Webkudi harmless from any
claim or demand, including attorneys’ fees, made or incurred
by any third party due to or arising out of your breach of
this Agreement.
You agree that if either you or Webkudi begin litigation or
arbitration, the prevailing party is entitled to recover
reasonable attorneys’ fees and any other costs incurred in
addition to any other relief to which the prevailing party
may be entitled.
3.0 Agency Relationship
Webkudi provides third-party payment processing services and
carries out related actions on your behalf. At all times, we
hold your funds separate from our corporate funds and do not
use your funds for our operating expenses or corporate
purposes. We do not voluntarily make your funds available to
our creditors in the event of bankruptcy or other purposes.
You acknowledge that Webkudi is not a bank and that the
Service is a payment processing service rather than a
banking service.
By initiating and sending payments through the Service or
adding funds to your balance, you appoint Webkudi as your
agent to obtain the funds on your behalf and transfer them
to the designated receiver. When you send a payment, you are
the owner of those funds which Webkudi holds as your agent.
You will not be able to withdraw those funds or send the
funds to any other User unless the initial transaction is
cancelled.
By receiving payments through our Service, you appoint
Webkudi to hold your funds in your account until you take
further action. You may allow a third party to withdraw or
transfer your funds through our Site, but they will still be
subject to the terms of this Agreement. If we send you a
payment notification when you receive money through Webkudi
but you have not registered for the Service, you will have
no claim to those funds until you register for the Service
and accept the payment.
Webkudi is a payment processor that hosts, creates,
maintains and provides our Service to you online. We do not
have any control over the Products that are paid for with
our Service. We cannot ensure that a Buyer or a Seller will
complete their transaction as we are not a party to any
transaction between Users. Instead, each User agrees to use
the Services of their own accord. Furthermore, Webkudi
reserves the right to correct any processing errors that may
occur.
4.0 Account Information
4.1 Verification
Webkudi encourages Users to become verified for the security
of our network. We may ask our members at any time to become
verified to comply with Anti-Money Laundering and Anti-
Terrorist Financing Legislation. You agree to complete
account verification procedures upon Webkudi’s request. If
you refuse to complete account verification, your account
may be suspended regardless of any or all pending or
unsettled transactions.
4.2 Receiving Funds
When you receive funds in your Webkudi account, applicable
transaction fees will be deducted for that transaction.
4.3 Sending Funds
Webkudi provides a secure medium through which to make
payments online. The Seller assumes all liability for the
Product being sold, and understands that the Products are
purchased at your own risk. If you encounter any problems
with the Seller’s Products, you should contact Webkudi
immediately to assist you in resolving this problem
following the Resolutions process outlined in section 5.0.
Your report must be submitted on or before Ten (10) days
after the purchase of the product or services.
4.3.1 Refusing Transactions
If you send money to another Webkudi User, they
automatically accept the funds; this means a User must have
to return money sent to them back to the sender by
initiating another fund transfer. You agree that we will not
be held responsible for damages resulting from a User’s
refund of a transaction.
4.5 Depositing Money
You can deposit funds by bank transfer, or debit/credit card
payment, and then spend your money anywhere you like while
keeping your personal information confidential.
In compliance with the Money Laundering Act of 1995 and the
Terrorism (Prevention) Act 2011 and Terrorism Prevention
(freezing of international terrorist funds and other related
measures), regulations of 2011, certain limits will be
imposed on deposits into Webkudi accounts whether verified
or unverified and depending on the depositing method. To
spend your money without divulging your personal
information, you must select Webkudi as the transaction
gateway on the checkou
t page.
4.5.1 Returned Deposit
If you deposit funds by bank transfer and the amount is
unpaid due to non-sufficient funds, a closed account or a
stopped payment, you will be liable to pay a N2000 fee per
incident. Please ensure that you provide accurate data
before initiating a bank transfer.
4.6 Withdrawing Money
You have the option of withdrawing to your bank account by
bank transfer or bank wire or by requesting a check. In
compliance with Anti-Money Laundering and Anti-Terrorist
Funding Legislation, certain limits will be imposed on
withdrawals from Webkudi accounts whether verified or
unverified and depending on the withdrawal method.
4.6.1 Returned Withdrawal
If you withdraw funds by bank wire or bank transfer and the
amount is returned due a closed account or unable to locate,
you will be liable to pay a N2000 fee per incident as well
as any other associated fees passed on by correspondent
banks. Please ensure that you provide accurate data before
initiating a bank transfer.
4.7 Recurring Payments
A recurring payment is a payment plan you set up with a
Seller in which you allow us to process pre-authorized
payments for the subscription or recurring service. If you
sign up for a subscription or recurring payment, you give
Webkudi the right to process your pre-authorized payments.
4.7.1 Cancelling A Recurring Payment
If you wish to cancel a subscription, you must always cancel
it from your Webkudi account, or contact our customer
support to cancel it for you. If you merely unsubscribe on a
seller’s website, your subscription will not be cancelled.
4.8 Webkudi Balance
You are not required to carry a balance in your Webkudi
account. You may deposit funds at any time. However, if your
Webkudi account has a negative balance, you agree to deposit
funds into your account to cover the negative balance. If
you do not, we reserve the right to recover the funds by any
means necessary, including the involvement of a collections
or law enforcement agency.
If you do hold a balance in your account, Webkudi will keep
your funds separate from its corporate funds and will not
use your funds for its operating expenses or any other
corporate purposes. Webkudi will not voluntarily make your
funds available to its creditors in the event of bankruptcy.
You further understand that you will not receive interest or
other earnings on the funds that Webkudi handles as your
agent and places in pooled bank accounts. In consideration
for your use of the Service, you irrevocably transfer and
assign to Webkudi any ownership right that you may have in
any interest that may accrue on funds held in pooled bank
accounts. This assignment applies only to interest earned on
your funds, and nothing in this Agreement grants Webkudi any
ownership right to the principal of the funds you maintain
with Webkudi. In addition to or instead of earning interest
on pooled bank accounts, Webkudi may receive a reduction in
fees or expenses charged for banking services by the banks
that hold your funds.
4.9 Credit Card Use
YoYou can use your credit card to send direct payments to
other Webkudi members or to make a payment through a
Seller’s website. You can also use your credit card to
deposit funds, into your Webkudi account. If you receive a
refund and initially paid for the item with your credit
card, your refund will be put in your Webkudi account.
4.10 Account Security
Webkudi implements various security measures to protect your
account. With the use of your password and/or Transaction
PIN, unauthorized transactions will be drastically reduced
if not completely eliminated.
5.0 Resolutions
5.1 Transaction Disputes
Disputes between you and a Buyer must be reported through
Customer Support at www.Webkudi.com/dispute or
www.Webkudi.com/tickets. Claims must be filed within 2 days
of the completed payment.
When handling a dispute, Webkudi will take into
consideration the Seller’s Terms of Service to which you
agreed at the time of purchase. If the service or product
has not been delivered as stated, Webkudi’s policy will be
used in place of the Seller’s Refund Policy.
5.2 Buyer Protection Policy
When payment is made for any purchase of product and/or
services by the buyer, the fund is not released to the
Seller until after ten (10) days from the date the payment
was made. The Buyer is expected to report any fraud within
these days if there is any.
We do our best to provide protection for both the seller and
the buyer alike.
Some of our dispute resolution and refund processes are
summarized below. Be sure to read through before filling out
our dispute resolution form.
5.2.1 Dispute Resolution
When a buyer is not satisfied with a purchase from a seller,
the buyer can fill out our dispute resolution form
appropriately within 2 days of the completed payment. We
will do our best to mediate a fair resolution between both
parties.
If the resolution results in a refund for the buyer, a
refund of the total money less the already deducted charges
will be made to the buyer. The already deducted charges will
serve as a fine for the buyer while the seller may also be
fined.
However, if the resolution does not result in a refund for
the buyer, the seller is fined for the resolution.
We encourage the seller and the buyer to communicate and
reach a mutually agreeable resolution. This will reduce the
possibility of refunds which may result in a fine for both
parties.
5.2.2 Refunds
If a buyer has filled our dispute resolution form with
respect to a transaction, the buyer and/or the seller may be
required to provide some or all of the following:
Proof of physical postage/delivery, email delivery,
refund and/or replaced product.
A copy of the original item description.
Return/Refund Policy applicable to the buyer at the time
of purchase.
Terms and conditions agreed to by the buyer prior to
purchase.
5.3 Seller Protection Policy
The Sellers are protected from unjust claim from any Buyer.
If any issue is resolved in favour of the Seller, the buyer
pays a fine and may be banned from using the services on
Webkudi.
5.4 Chargebacks and Associated Fees
A chargeback occurs when the debit/credit card owner
contacts their debit/credit card issuer to dispute certain
charges made through their credit card or bank account,
depending on payment or depositing method. Any account that
receives fraudulent funds or funds that have been disputed
by the debit/credit card owner will be reversed. If you
receive funds in your account from the debit/credit card
owner’s credit/debit card or bank account and the
credit/debit card or ACH transaction is reversed, you agree
to hold Webkudi harmless for the reversal fee and agree to
reimburse Webkudi immed
iately by any means necessary. If
Chargebacks exceeds 1% of transactions per month
consecutively, then Webkudi can invoke its right to
terminate this contract. Chargebacks returns and reversals
may lead to immediate account termination and/or a N2000
penalty fee. Furthermore, in the event of a chargeback or
reversal, any Webkudi fees (such as “receiving” fees) will
not be refunded.
5.5 Funds Recovery
If another User disputes a payment made to your Webkudi
account by chargeback, Webkudi will retrieve the funds in
question. Furthermore, you authorize Webkudi to retrieve any
disputed funds to recover the lost funds. If you received
the amount by check, you agree to pay the negative balance
in your Webkudi account. Otherwise, we will have to involve
a collections agency in the funds recovery process. Save
that in such instance you will be consulted first to give
you an opportunity to present an argument in mitigation of
such Webkudi’s intended actions.
5.6 Contacting the Seller
Before filing a claim, you must contact the Seller and
attempt to resolve the dispute on your own. Most disputes
are solved with proper communication. If you cannot resolve
the dispute this way, you can submit a ticket regarding your
dispute through Webkudi dispute form.
After you have opened a dispute, Webkudi will send a
“Contact Request” to the Seller in hopes of resolving the
issue. The Buyer must respond to this email if the issue has
not been resolved, otherwise the dispute will be closed.
Furthermore, it is not permitted to alter either party’s
email reply; all information, including emails, should be
included in their original format. We ask that all email
communications take place using the same email address as
the one used to open the dispute.
5.7 Submitting a Dispute to The Support Center
Webkudi members may only submit one dispute per transaction.
Submitting multiple disputes for a single issue may result
in the closure of the dispute without resolution for the
inconvenience.
If one member files a dispute against another member,
Webkudi’s Support Centre will mediate the situation. Webkudi
will only intervene if there is a clear policy violation.
Webkudi’s involvement and final decision protects Buyers
from fraudulent Sellers and protects Sellers from false
allegations of fraud.
Before filing a complaint, you should review the Seller’s
Refund Policy and Terms of Service. If after reviewing the
Refund Policy and TOS you believe that the Seller failed to
provide the Product or Service as stated and/or if you are
entitled to a refund as stated by the Seller, you may file a
complaint.
If your claim is justified, Webkudi will attempt to collect
funds from the Seller. Both parties agree to a binding
resolution rendered by Webkudi. Webkudi reserves the right
to limit resolution requests if the User has not done due
diligence on the Seller prior to making a purchase or
sending funds. Once a dispute has been closed, it cannot be
re-opened or disputed again.
Before a Buyer can report a dispute, the following
conditions must be satisfied:
You must register a Webkudi account. This is because in case
of refund, the refund will be paid into your Webkudi
account.
You must submit your complaint on or before 2 days after
purchase of Service. Failure to do this revokes your
complaint.
The complaint must include the following: Transaction
Number, Email used for order, Date of the transaction,
amount and payment method.
6.0 Acceptable Use Policy and Activities Not Allowed
6.1 Acceptable Use
Use of the Services is subject to this acceptable use policy
(“AUP”). If not defined here, capitalized terms have the
meaning stated in the applicable contract (“Agreement”)
between Buyer, Seller or other authorized User (“You”) and
Webkudi.
You agree not to use or allow third parties or Your End
Users to use the Service for the following reasons:
To generate or facilitate unsolicited bulk commercial
email.
To violate or encourage the violation of the legal
rights of others.
For any unlawful, invasive, infringing, defamatory or
fraudulent purpose.
To intentionally distribute viruses, worms, Trojan
horses, corrupted files, hoaxes or other Products of a
destructive or deceptive nature.
To interfere with the use of the Services or the
equipment used to provide the Services, by Buyers, Sellers
or other authorized Users.
To alter, disable, interfere with or circumvent any
aspect of the Services.
To test or reverse-engineer the Services to find
limitations, vulnerabilities or evade filtering
capabilities.
To use the Services, a component of the Services or
contents of password protected pages in a manner not
authorized by Webkudi.
Your failure to comply with the AUP may result in suspension
and/or termination of the Services pursuant to the
Agreement.
No User or other third party is authorized to use bots,
spiders or other automated information-gathering devices or
programming routines to “mine” information displayed,
register User accounts, perform transactions and any other
activities Webkudi considers inappropriate.
6.2. Activities Not Allowed
The sale, solicitation, offering, exchange or service of the
following:
Tobacco products and related paraphernalia.
Pharmaceutical and controlled substances.
Imitation and replica clothing and accessories.
Drugs and related paraphernalia (including but not
limited to research chemicals and illicit herbal incense)
Pre-adult content, such as pictures, videos, etc…, of
individuals under the age of 18.
Illegal downloads or any other goods and services
infringing intellectual property rights of a third party,
including streaming video/audio.
Credit card protection, credit repair services,
applications for financial services or loans and/or
collection services.
Payment processors or any aggregation type services.
Sites that promote hatred, racism, sexism, religious
persecution and/or any other prejudicial views.
Services using credit card transactions as deposits or
credits, including pre-loaded debit/credit/cash/virtual
cards.
Hazardous materials, combustibles and/or corrosives.
Weapons
The followingactivities are also not allowed through or in
relation to Webkudi:
Money laundering.
Infringing on any third party’s copyright, patent,
trademark, trade secret or other property rights or rights
of publicity or privacy.
Violation of any law, statute, ordinance, contract or
regulation, including but not limited to those governing
financial services, consumer protection, unfair competition,
anti-discrimination or false advertising.
Submission of altered veri
fication documents.
Being misleading, false or inaccurate in respect to
Webkudi or any other User.
Any activity similar to or consisting of giving yourself
a cash advance from your credit card or bank account,
factoring or helping others to do so.
Any defamatory, trade libellous, unlawfully threatening
or harassing statements or information.
Spamming.
Using Webkudi as a virtual terminal.
Using currency exchangers or aggregation, unless
approved by Webkudi.
Transmitting personal information of other Webkudi
members to third parties.
Using the Webkudi brand to market or advertise your
product(s)/service(s) in any capacity.
Threatening legal action against Webkudi and/or Webkudi
employees.
Furthermore, anything that directly causes us to lose or
become liable for, in whole or in part, the services of our
sponsoring banks, Internet Service Providers or other
suppliers is not allowed. If you use or attempt to use the
Service for purposes other than sending and receiving
payments and managing your account, including but not
limited to tampering, hacking, modifying or otherwise
corrupting the security or functionality of the Service,
your account will be terminated and you will be subject to
damages and other penalties, including criminal prosecution
if necessary.
6.3 Monetary Penalties
If you are found by a competent judicial body to be in
violation of this User Agreement and all terms herein, we
reserve the right to fine you a penalty of N2000
We further reserve the right to penalize any and all
fraudulent or negligent Sellers for using Webkudi as
Customer Support for their business, for excessive refunds,
transaction disputes, Chargebacks, complaints, excessive
burden, creating liability and damaging our credibility
among our members and professional partners.
6.4 Use of Other Payment Processors
Members participating in high-risk programs, such as MLMs or
gambling should only send/receive payments through Webkudi-
to-Webkudi funds transfers/payments. If members transfer
funds with debit/credit cards, any disputes resulting from
that effect will be manage through Chargebacks processes and
the card issuers or banks policy will be adhere to. Webkudi
and Digimedia records will be used to determine the outcome
of any conflict or dispute. Anti-Money Laundering guidelines
and Webkudi’s fraud prevention policies require that
transactions disputed through Webkudi are limited to only
the lesser of the funds sent or received through Webkudi.
Therefore, should the case arise that disputes are initiated
on ingoing or outgoing funds transfers, only the lesser
amount of the two will be treated as relevant to the
dispute, resolution and risk management process.
7.0 Regulated Account Types And Industries
Individuals whose businesses fall under the following
“Regulated” industries ARE permitted to use our services.
However, accounts and industries that fall under the
“Regulated” category must use a Webkudi Business account
(they must be register on our platform as a verifiable
merchant account) to receive payments. Please note, some
industries may be subject to higher fees than regular and
other “Regulated” industries. The fees are applied at the
discretion of Webkudi but not without notice or forewarning.
7.1 Regulated Industries
DVDS
Telephone service, long distance, VoIP, PC-to-phone
service or SMS
Plants, seeds and/or other horticultural products.
Seminars and event tickets
Perishable and non-repackaged foods.
Police and other government identification and equipment
Body modification products, such as penis/breast
enlargement
Mature toys, novelties, and paraphernalia and related
Products
Multi-Level Marketing (MLM), matrix programs or online
income opportunity programs
Pay-to-click, pay-to-read and any related industries
Games of skill. Gambling and sport betting fall under
game of skill.
Lotteries and raffles.
Web-based anonymizes
7.2 Deferred Rendering of Goods and Services
Deferred Rendering of Goods and Services is defined as funds
that are received from a client for services or goods to be
delivered to the client at a date further than 2 calendar
days after purchase. Depending on a seller’s goods, services
or industry, Webkudi reserves the right to temporarily
sustain an amount of transactions and/or monies until
confirmation is received by virtue of client confirmation or
if package delivery information can be substantiated.
8.0 Closing Accounts And Limiting Account Access
This Agreement’s term will begin as soon as you accept these
terms and will continue as long as you use the Site or the
Services and are a Webkudi member.
8.1 Activities Resulting In Account Limitation and
Termination
Webkudi reserves the right to limit Account access or
withdrawals and the right to terminate this Agreement with
no prior notice for any of the following:
Reporting unauthorized or unusual credit card or bank
account use to your issuing bank or other issuing authority,
including but not limited to chargebacks.
Reporting unauthorized or unusual credit card or bank
account use to your issuing bank or other issuing authority,
including but not limited to Chargebacks.
Abusing the reversal process by a Buyer through their
bank.
Consistently failing to follow the Resolutions process
before filing a complaint with their issuing bank or other
issuing authority.
Initiating a reversal by a Buyer through their issuing
bank or other issuing authority without first following the
Resolutions process.
Initiating transactions such as cash advances or
assisting cash advances.
Sending unsolicited email
Using the Webkudi account to facilitate fraudulent
activity.
Violating this User Agreement in any way.
Returning an incoming Electronic Funds Transfer due to
insufficient funds in the bank account or an incorrect bank
routing/institution and/or account number.
Using an anonymizing proxy.
Receiving excessive complaints from Buyers about your
account, business or service.
Submitting altered verification documents.
8.2 Actions Resulting From Engagement In Restricted Or
Prohibited Activities
If we have reason to believe or suspect that you have
engaged or plan on engaging in any restricted or prohibited
activities, we may take various actions to protect Webkudi,
other users or you from reversals, Chargebacks, claims,
fees, fines, penalties and any other activity that may
render Webkudi liable.
The actions we may take include but are not limited to the
following:
We may close, suspend or limit your access to your
Webkudi account (such as limiting access to any of your
payment methods and/or your ability to send money, make
withdrawals or remove financial Information);
We may contact buyers who have purchased goods or
services from you, contact your bank or credit card issuer
and/or warn other users, law enforcement or impacted third
parties of your actions save that in such instance you will
be notified first and given reasonable opportunity to
provide us with additional detail that you deem relevant to
our decision.;
We may update inaccurate information you provided us;
We may refuse to provide the Webkudi services to you in
the future;
We may hold your funds for up to 180 days if reasonably
needed to protect against the reasonable risk of liability
save that in such instance you will be notified first and
given reasonable opportunity to provide us with additional
detail that you deem relevant to our decision.;
We may at any point ask for information regarding your
business, reason for you sending or receiving the payment;
and
We may take legal action against you.
Webkudi will use reasonable efforts to investigate accounts
that are subject to account access limitations and to reach
a final decision on said limitations. Should your account be
limited, all funds will be held for a period of time until
the issue is resolved. However, it may be held for a lesser
period which Webkudi will determine. By following this User
Agreement, you can help protect your account from becoming
limited.
9.0 Anti-Money Laundering and Counter Terrorist Financing
Policy
As a worldwide financial institution, Webkudi is fully
committed to conducting due diligence on our clients and
ensuring that all applicable laws and regulations necessary
to forestall and prevent money laundering. These include
confirming the identity of our sellers and buyers by means
of:
Government-issued photo ID
Proof of residential or business address
Corporate documentation
Business registration information
Any other applicable documentation
Furthermore, we reserve the right to conduct enhanced due
diligence on all clients given world-wide approved risk-
based policies and as mandated by Sections 3 (6) and (7) of
the Anti Money Laundering Act 2011. Please note that Webkudi
reserves the right to refuse a transaction or deny operation
on a client or account at any time should suspicion arise
that it may be connected to money laundering, criminal
activity or any other predicate offence to money laundering.
Webkudi will not enter into any business arrangement with
anyone or group suspected of or directly involved in money
laundering, or where funds have been sources or ends of an
illegal activity.
In the event that Webkudi receives, during its request for
documentation, deceptive documentation, contact details,
business description or other false information, Webkudi
will terminate the offending account. Webkudi is legally
bound to report such misdemeanours to the relevant
authorities such as the Economic & Financial Crimes
Commission (EFCC) and the Special Fraud Unit (SFU), and as
such the subject, business and its owners may be the subject
of a criminal investigation.
Also, in the event that Webkudi observes, in respect to any
account, the occurrence of certain triggers or red-flags
(Indicators) which are indicative of perpetuation of fraud,
fraudulent or money laundering activities, Webkudi will
place a lien on such an account and the funds therein
contained. Webkudi is legally bound under Section 6 of the
Anti Money Laundering Act 2011, to report same to the
Economic & Financial Crimes Commission (EFCC) and the
Nigerian Financial Intelligence Unit (NFIU).
*Indicators are observable events that point to the
possibility of specific activities occurring*
Finally, Webkudi reserves the right to:
Withhold suspected fraudulent or money laundering funds
in suspected accounts
Order for full scale forensic investigations in respect
of said accounts
Upon confirmation of the status of the account, deduct
the costs of Webkudi’s investigations and incidental
expenses from the withheld funds in the account.
9.1 Webkudi Counter-Terrorism Financing Statement (CTF)
As part of the information that is collected during our
verification and AML procedures, Webkudi conducts
verification through world-wide databases. At the forefront,
they will include compliance with EFCC (Economic & Financial
Crimes Commission) requirements, as contained in the
Economic and Financial Crimes Commission Act 2004, global
sanctions reports and government watch lists and screening
processes. At any time, due to a requirement to satisfy any
of the above verification methods, a client, business entity
or any of the business entity owners or affiliates may be
asked a specific document or piece of information to confirm
their identity or provide additional information regarding
any transaction, operations or even business dealings with
certain individuals, institutions and dealings in
geographical locations.
Should a situation arise where the nature of the business,
geographical specific regulations or account activity fall
in the scope of non-compliance in any applicable law or
regulation, Webkudi will inform the client, business unit or
any of the business owners or affiliates of the event and
occurrence. For such instances, pre-verification and
enhanced due diligence will be required prior to regaining
active account status. In cases, where compliance is not
achieved pursuing remediation measures, Webkudi will see fit
to terminate the account and will report the event and
surroundings to the applicable law enforcement and
regulatory authorities.
10.0 Additional Terms
Webkudi’s failure to enforce any provision of these terms is
not an allowance of such provisions. It is Webkudi’s right
to act with respect to subsequent or similar breaches and
enforce such provisions.
This Agreement is governed by and interpreted under the laws
of the Federal Republic of Nigeria as such laws are applied
to agreements entered into and to be performed entirely
within the Federal Republic of Nigeria.
The parties hereto agree that this agreement is drafted and
executed in the English language. In the event that any
indemnification applies in this Agreement then The
indemnified party shall notify the indemnifying party of any
such loss or claim and expense as soon as it first arises to
give the indemnifying party opportunity to mitigate its own
potential exposure which will include giving the
indemnifying party sole right to conduct and/or settle (on
terms approved by the indemnified party, such approval not
to be unreasonably withheld or delayed) all negotiations
and/or the claim,
all costs incurred or recovered in such
negotiations or claim being for the indemnifying party’s
account and the indemnified party shall take all reasonable
steps to prevent further loss or to mitigate loss or damage
already occurred, but the indemnified party shall not,
without the consent of the indemnifying party, take any
steps to compromise or settle the claim.
11.0 Glossary
Account Limitation: An account status in which a User has
limited or no access to the Services pending an
investigation. This status can be either temporary or
permanent depending on the individual circumstances.
Attestation: A form certifying a person’s identity by
signature or oath in an official capacity.
Bank Deposit Code: A Bank Deposit Code is created once a
member completes a bank deposit. Bank Deposit Codes are
issued to all bank accounts outside of United States and
Canada. This code is required when the member visits their
bank and must be included in the “Details” or “Reference”
area of the bank transfer. No information other than the
Bank Deposit Code should be entered in the “Details” or
“Reference” area of the bank transaction. A missing Bank
Deposit Code may cause delays in completing the transaction.
BIC: Bank Identification Code.
Business Tools: A set of functions available to account
holders, including Instant Payment Notifications,
“Buy/Subscribe Now” buttons and numerous email associations.
“Buy Now” Button: A button a seller can integrate into their
website allowing their customers to sign up for a Webkudi
account or make an instant payment.
Chargeback: A function a Webkudi member may initiate through
their credit card issuer to reverse a credit card payment.
This action will result in an account suspension as we are
charged for every chargeback initiated by a member.
CVC: See CVV.
CVV: Credit Card Verification Value; A 3 – 4 digit code on
either the front or back of your credit card. This code is
an extra layer of security necessary for “Card-Not-Present”
transactions.
CSV: Comma-Separated Values; A file format necessary for
data import and/or export to and from Webkudi.
DBA: oing Business As; A statement permitting a Seller to
operate a Webkudi account under a company name.
Deposit: A function with which a Webkudi member can deposit
money into their account by bank transfer, bank wire, money
order, certified check or cashier’s check.
Due Diligence: Time and effort all members are expected to
spend on researching the reliability, credibility and ethics
of individuals and/or businesses with which they plan on
doing business. Members should contact these people or
companies to establish a rapport and/or read blogs, reviews,
brochures and other material and use their best judgment
before doing business with them.
E-Commerce: A general business category encompassing most
internet-based financial and commercial services.
EFT: Electronic Funds Transfer; bank transfers and bank
wires.
Email Validation: Before a member can login to their Webkudi
account, they must click the link in the validation email.
NUBAN: Nigerian Uniform Bank Account Number
IPN: Instant Payment Notification.
Mass Pay: A “Send Money” feature that can be used to pay
several people or a large group at one time. This is a fast
and effective tool for members who make weekly pay-outs such
as commissions or referral payments.
Member: An Webkudi customer with an active Webkudi account.
MLM: Multi-Level Marketing.
Password: An alpha-numeric code each Webkudi member will
create to log into their account.
Payment Processing: A general business category including
third-party electronic payment solutions.
Proxy Server: In computer networks, a proxy server is a
server (a computer system or an application program) that
services the requests of its clients by forwarding requests
to other servers. Members who try to access their Webkudi
account through a proxy server will be denied access. They
must contact their Internet Service Provider to disable
their proxy server.
Transaction/Reference Number: A 15 digit alpha-numeric code
assigned to every transaction. The member can find their
reference number by clicking on the status of the
transaction in their Webkudi account.
Regulated: This applies to business types that carry extra
risk resulting in a higher possibility of chargebacks. Also
applies to an account status in which a User’s access to the
Services are limited.
Screen Shot: Our security code provides a way of
authenticating that the data was sent by Webkudi. You create
your security code and it is immediately encrypted so only
you know the code you entered. Your security code will not
change unless you enter a new code to be encrypted. You can
make this change at any time by going to IPN Setup.
Security Code: Our security code provides a way of
authenticating that the data was sent by Webkudi. You create
your security code and it is immediately encrypted so only
you know the code you entered. Your security code will not
change unless you enter a new code to be encrypted. You can
make this change at any time by going to IPN Setup.
Send Money: A function that enables a member to send funds
to another member using only their email. If the receiver
does not have a Webkudi account, they will be invited by
email to create one.
“Subscribe Now” Button: A function a seller can integrate
into their website which allows their customers to sign up
for a paid subscription through us.
Transaction PIN: A numeric code a member creates opening an
Webkudi account. Much like a debit/credit card PIN, a member
will not be able to complete a transaction without entering
this PIN correctly. Members may also have to answer two
security questions when creating their PIN and will have to
answer those questions correctly to reset it. The answers to
the security questions are case-sensitive.
User: A person who uses our services; same as “Member”.
Generally, this term refers to someone who “uses” computers
and the Internet.
Verification: Account verification identifies the member as
part of a Know Your Customer (KYC) policy. Verification is
important for the Webkudi network as it enhances security
and helps to protect our members against fraud.
Withdraw: A function in which an Webkudi member can transfer
funds out of their Webkudi account by bank transfer, bank
wire or check.
EULA
The Merchant hereby agrees that all details provided on his
Webkudi account are up-to-date and shall be regularly
updated as soon as it is clear that those details are no
longer valid.
It shall be the merchant’s responsibility to ensure that
only authorised transactions are performed by his/her
customers/clients on the channels provided.
In the incident o
f chargebacks resulting from fraudulent or
unauthorised card usage, the Merchant hereby agree to take
responsibility, and grants Webkudi the authority to effect
such chargeback on his or her account as due.
Where the funds are no longer available in the Merchant’s
Webkudi account, the Merchant shall fund the account or
ensure availability of such funds within 48 hours of
notification via details provided on the Merchant’s account.
This shall include email, SMS or other official
communication.
All charge backs incurred by Webkudi on behalf of the
Merchant shall be transferred to the merchant in the
incidences of card fraud, unauthorised card transactions and
other unethical card usage.
The merchant agrees to exempt Webkudi of all losses or gains
that may arise from exchange rate conversions on
chargebacks.
Where it is found that the merchant promotes, encourages,
incites or stimulates the inappropriate use of the services
provided by Webkudi, The Company reserves the right to
suspend, block, ban or limit the services rendered to such
account.
A merchant shall provide as at when requested, details of
customers who use Webkudi via his/her platform, website or
app.WhileWebkudi shall ensure that adequate security
measures are provided in processing transactions on behalf
of the customer, this shall not constitute an exemption for
the merchant from ensuring that adequate security measures
and protocols are provided in ensuring the integrity of
transactions performed through his/her platform.
The merchant understands that Webkudi’s services are
provided in goodwill and agrees to ensure fair usage of the
services provided by Webkudi and will not engage in
unethical/unfair usage of the said services. This shall
include but not limited to spamming, fraudulent activities,
scamming, and other practices which may put the image or
reputation of Webkudi or its partners into disrepute.