These SiFi Platform Terms and Conditions and each Extension (as applicable, including any Policies) along with the Application Form (the "Agreement") set out the terms on which SiFi will enable the Customer to avail the products and services offered pursuant to this Agreement. This Agreement will be effective from the date of acceptance by the Customer upon completing and submitting to SiFi the Application Form (the "Effective Date").
The following terms shall have the meaning ascribed to them wherever they appear in this Agreement unless the context requires otherwise:
2.1 This Agreement applies when a Customer registers for an Account or opts for using the Wallet Services with SiFi upon the Account Administrator completing the required onboarding and verification requirements set by SiFi, thus enabling the Customer and Customer Personnel to make payments for purchasing products and/or services, make remittances and receive certain payments as set out in this Agreement and any applicable Extension and Policies.
2.2 Eligibility: Customers may not use the Wallet Services and may not accept the Agreement if
(a) The Customer is not permitted to avail Wallet Services for any regulatory reason.
(b) The Account Administrator is a person barred from receiving the Wallet Services under the laws of the Kingdom of Saudi Arabia.
3.1 A copy of the Agreement, as amended from time to time, is available to Customers on the Customer Portal and the App. In order to use the Wallet Services, the Customer must first accept the Agreement as indicated via the Customer Portal. This Agreement forms a legally binding agreement between the Customer and SiFi. The Customer can accept the Agreement selecting such option when prompted on the Customer Portal and as indicated towards the end of this Agreement.
3.2 Throughout the duration of the Agreement, the Customer may request to be provided with the Agreement, and a link to the Agreement will be sent to the Customer's designated email address free of charge.
3.3 The Agreement will be provided to the Customer in Arabic or in English, as chosen by the Account Administrator.
3.4 The Customer's relationship with SiFi will be governed by the language version of the Agreement that the Account Administrator selects at the time of accepting the Agreement. If the Customer has selected the Arabic version, the relationship will be governed by the Arabic version. If Customer has selected English, then the relationship will be governed by the English version.
This Agreement applies to the Customer's use of the Wallet Services. SiFi's Wallet Services enable users to use a digital wallet to cash-in, pay for goods and services, withdraw/redeem funds in their wallet Account and transfer funds both within the Kingdom of Saudi Arabia and internationally.
The Customer, the Account Administrator, the Team Budget Manager, and any Customer Personnel are required to have an eligible device in order to use the Wallet Services. SiFi, at its own discretion, shall determine which devices are eligible to be used with the Wallet Services and shall provide Customers with a list of such devices or types thereof on request by Customers in the event they encounter an issue. Devices that have been unlocked in an unauthorised fashion or otherwise modified may not be eligible to use the Wallet Services.
6.1 Customers can contact SiFi by telephoning its customer service team at 920031030, via the chat facility on the Customer Portal or App, or by writing to SiFi by email at [email protected] or through social media.
6.2 If SiFi has to contact the Customer, it will do so by telephone, email, App-chat facility, chat bots or other methods at SiFi's discretion.
7.1 To use the Wallet Services, the Customer must complete all required information elements on the SiFi registration process and open up an Account with SiFi.
7.2 The Account Administrator handling the registration process must be at least 18 years old and adequately authorised to open an Account for the use of the Wallet Services. Similarly, the Team Budget Manager given access to manage certain features relating to the Account must have the adequate authorisations and be at least 18 years old.
7.3 The Account Administrator and any Team Budget Manager must complete the verification process required by SiFi. However, the Customer remains fully responsible for the acts of the Account Administrator and any Team Budget Manager having access to the Account. If the Customer wishes to cash-in or cash-out from the Account, the Customer may do this through a valid funding instrument (as SiFi determines from time to time), although this is not mandatory. The funding instrument must be associated with a billing address in the Kingdom of Saudi Arabia.
7.4 Customers must provide current, complete, and accurate information and maintain it as current and accurate during their use of the Wallet Services. Customers agree to provide any information that SiFi may require or that may be required by law or any underlying financial institutions to provide the Wallet Services. The Customer will promptly give SiFi all documents and other evidence that SiFi reasonably asks for at any stage of using the Wallet Services. SiFi may require the Customer to provide additional information to verify the Customer, the Account Administrator and/or a Team Budget Manager as a condition to provide the Customer with the Wallet Service or before SiFi permits the Customer to make payments or receive or redeem funds from the Account. The Customer agrees to provide such information as SiFi may require in this regard, including information necessary to validate the identity of the Customer and its representatives or confirm the authenticity of any funding instrument that the Customer registers for use with SiFi.
7.5 SiFi may make, directly or through any third party, any inquiries it considers necessary to validate information that the Customer provides to SiFi, including without limitation checking commercial databases or credit reports. While SiFi will take steps to verify the identity of the SiFi Platform users, SiFi cannot and does not guarantee any user identity.
7.6 If at any time the Customer or the Account Administrator do not meet SiFi's eligibility requirements, the Customer may not be able to register and open an Account with SiFi or the Customer's use of the Wallet Services will be limited.
7.7 SiFi treats all activities in respect of an Account to be those of the Customer, including but not limited to such activities made by Customer Personnel. Customer must only use the Wallet Services to transact on its own account and that Customer Personnel transact on the account of the Customer.
7.8 The Customer must update registration information promptly upon any change so that it is at all times complete and accurate. SiFi reserves the right to refuse to provide or discontinue the Wallet Services to any person or entity at any time for any reason.
7.9 The mobile telephone number and a password that the Account Administrator selects will be used to access the Customer Portal and the App. Each of the Account Administrator and the Team Budget Manager, as applicable, may be prompted to answer several security questions or select other issued security access keys or credentials that may be used to enable access to the Wallet Service and authorize transactions or use the features. The Customer is responsible for maintaining the secrecy and security of its Credentials. The Customer should not disclose its Credentials to any third party. If any of its Credentials are compromised, the Customer must notify SiFi immediately by using any of the contact means described above so that SiFi can suspend the use of the Customer's Account in order to avoid unauthorized transactions. Customer must also notify SiFi through the contact methods described above if it wishes to request SiFi to unblock the Account. The Customer will not be financially responsible for any use of the Account by an unauthorized person or for fraudulent transactions occurring after the Customer properly notifies SiFi of the loss or compromise unless the Customer acts fraudulently or negligently and did not take reasonable steps to keep its Credentials safe and secure.
7.10 Customer acknowledges that upon Customer's acceptance of this Agreement and Customer's completion of SiFi's onboarding and registration requirements to open an Account with SiFi, SiFi will designate a MID to Customer. Each Customers' MID will be a unique number and will be used by SiFi to identify each Customer in the performance of its obligations under this Agreement.
8.1 The Account will enable the Customer to
8.1.1 transfer funds from a bank account, debit card or credit card to load the Account.
8.1.2 withdraw funds from the Usable Balance to bank accounts held in the name of Customer (subject to complying with such requirements that SiFi may set out from time to time).
8.1.3 transfer funds from the Usable Balance to bank accounts held in the name of a third party (including where that third party is located outside of the Kingdom of Saudi Arabia).
8.1.4 receive a payment card for itself and the Customer Personnel in accordance with the SiFi Payment Cards Terms and Conditions under Annex 1 hereto.
8.2 The Account is an e-money account. The Customer acknowledges that the Account is not a bank account. There is no overdraft facility available on the Customer's Account or interest or profit margin that may accrue over time.
8.3 The Customer acknowledges and agrees that SiFi may make new services available to the Customer. SiFi will notify the Customer of any amendments to the Agreement resulting from the introduction of new services by email or by providing a link to the updated Agreement at least thirty (30) days prior to amendments and subject to the terms below on changing the terms in this Agreement.
8.4 The Customer acknowledges and agrees that SiFi may stop providing the Wallet Services to the Customer as provided in the Agreement. The Customer may stop using the Wallet Services at any time without needing to inform SiFi when it stops using the Wallet Services.
8.5 The Customer acknowledges and agrees that SiFi may establish general practices and limits concerning the use of the Wallet Services without prior notice to Customer, including without limitation individual or aggregate transaction limits on the value or number of transactions during any specified time period(s) and recharge limits. In addition to any applicable account limits and recharge limits, SiFi may restrict transactions to or from a Customer's Account or limit access to its Account in such amounts and for such time as SiFi reasonably deems necessary to protect itself or other users if (a) SiFi are subject to financial risk, (b) the Customer (represented by itself and any of the Account Administrator, Team Budget Manager and Customer Personnel) has violated any term of this Agreement, (c) any dispute exists involving the Account or transaction conducted in connection therewith, or (d) needed to protect the security of SiFi's systems. SiFi may restrict access to the Account while it completes any pending investigation or resolve a pending dispute. It also may hold the funds in the Account as required by law or court order or if otherwise requested by law enforcement or any governmental entity.
8.6 The Customer acknowledges and agrees that (i) the Usable Balance the Customer may be able to hold in its Account is subject to the Usable Balance Limit as determined by the then Applicable Laws in force; (ii) whenever there is permissibility to increase the Usable Balance from the Total Balance, SiFi will do so automatically as may be reflected on the App or the Customer Portal; (iii) the Customer shall be responsible for setting the Spending Limits from time to time on the SiFi Platform (subject to availability of such option as determined by SiFi at its own discretion); and (iv) any applicable Spending Limits may be subject to automatic adjustment by SiFi (at its own discretion) and as set out in the SiFi Payment Cards Terms and Conditions under Annex 1.
8.7 SiFi may refuse to execute any transactions or orders or other use of the services on the SiFi Platform if SiFi has reasonable grounds to suspect fraud, a breach of the applicable Agreement by the Customer or a violation of law. Transactions may also be delayed due to SiFi's or a third party's compliance with its obligations under applicable anti-money laundering legislation, including if SiFi or the relevant third party suspects the transaction involves fraud. In the event that SiFi refuses to execute a transaction or order or other use of the services, the Customer will be notified and SiFi will provide the Customer with objectively justifiable reasons for the refusal, unless it is unlawful for SiFi to do so, or would compromise reasonable security measures.
8.8 Funding, payments, and transfers are displayed in the Account and the Customer should check its Account balance and transaction history regularly. The Customer should report any irregularities or clarify any questions it has as soon as possible using the methods specified above.
8.9 SiFi will make available via the SiFi Platform a history of the transactions that the Customer (and any of the Customer Personnel) make under this Agreement at least once per month free of charge, including details of the amounts, the fees, charges and commissions, the dates and times of execution and the reference numbers for each transaction.
8.10 Except for SiFi's role in offering the Wallet Services, SiFi is not involved in any underlying sales transaction between the Customer or any other user or provider. The availability of payment methods may vary depending on the channel of purchase. Providers may enable access to the Wallet Services for the purpose of initiating transactions that are authorized by other users through their applications. In this limited capacity, SiFi is neither the buyer nor the seller of the items or services the merchant offers for sale and are not a party to the sales contract. SiFi will not mediate disputes between the Customer (and any of the Customer Personnel) and providers or enforce or execute the performance of any sales contract.
9.1 Upon setting up a valid and active Account, SiFi may automatically issue for the Customer a physical or virtual payment card linked to the Account. The Customer hereby agrees and accepts that SiFi issues such payment card automatically. SiFi will not charge the Customer for a card that is issued automatically unless the Customer activates the payment card pursuant to Annex 1.
9.2 The Customer's payment card(s) will not be valid unless the Customer activates such payment card in accordance with Annex 1 to this Agreement, and by such activation the Customer will be accepting the terms in Annex 1 applicable to the Customer's payment cards. The Customer is free to decide whether it activates and accepts the payment cards and their terms or not.
9.3 The SiFi Platform allows the Customer to request and obtain supplemental payment cards linked to the same Account for Customer Personnel. The Customer remains solely responsible for any and all transactions made by such Customer Personnel using such supplemental payment cards. Customer Personnel's eligibility to use such payment cards is subject to such Customer Personnel completing any required verification and accepting any additional terms and conditions as SiFi may require from time to time.
10.1 SiFi reserves the right to impose acceptable use terms in relation to the operation of the Account and the provision of any Wallet Services including the prohibition of certain categories of transactions for example payments in relation to gaming, cryptocurrencies and all other virtual currencies by specifying these on the Customer Portal or the App. SiFi will notify the Customer in the event that it imposes such terms in relation to the Account at least thirty (30) days before the terms are implemented.
10.2 The Customer must not use the Account for any illegal purposes including without limitation fraud and money laundering. If the Customer (and any of the Customer Personnel) conducts or attempts to conduct any transaction in violation of the prohibitions, SiFi reserves the right to reverse the transaction, and/or close or suspend the Account and/or report the transaction to the relevant law enforcement agency and/or claim damages from the Customer.
11.1 Funds paid by the Customer, or a third party will be credited to the Account on the Business Day they are received. If SiFi receives funds after the Cut Off Time on a Business Day or on a day that is not a Business Day, funds will be deemed to have been received on the next Business Day. SiFi shall not be responsible for the funds until they are received by SiFi.
11.2 In the event that the funds are subject to a reversal, SiFi will deduct such reversed transaction from the balance of the Account. If the Account balance is insufficient to cover the reversal, SiFi reserves the right to require repayment from the Customer.
11.3 The Customer should regularly reconcile incoming payments with its own records. The Customer should be aware that the crediting of funds to the Account does not mean that these transactions cannot be reversed. SiFi reserves the right to reverse a payment where the payer or the payer's bank or payment service provider has reversed (or is reasonably likely to reverse) a payment to the Account.
11.4 All payments to SiFi must be ascribed a clear and complete reference so that SiFi can credit the funds into the Account. Further details as to what references must be used are set out on the Customer Portal. If no reference or an incorrect reference or any required information is missing or incorrect in relation to the payment transaction, then SiFi may: (i) reject the payment transaction and not credit the Account; or (ii) seek to obtain the missing or corrected information from the payer's payment service provider before crediting the Account; or (iii) on a risk-sensitive approach, request the required information from the payer's payment service provider after crediting the Account. In such cases, SiFi will not be liable for any loss the Customer incurs, although SiFi will use reasonable efforts to investigate and credit or return incorrect and inaccurately referenced payments into or from the Account.
11.5 SiFi will provide the Customer, after the execution of a payment credited to the Customer, with the following information: (i) a reference to enable the Customer to identify the payment transaction and where appropriate the payer and any information transferred with the payment transaction; (ii) the amount of the payment transaction in the currency in which the funds are at the Customer's disposal; (iii) the amount of fees or charges for the payment transaction payable by the Customer; (iv) the exchange rate used in the payment transaction by SiFi; and (v) the date on which the payment transaction was credited to the Customer's Account.
12.1 SiFi will consider any instruction for a payment transaction issued by the Customer, the Account Administrator or any of the Customer Personnel to have been authorised by the Customer once SiFi has received consent to carry it out. The Customer consents to making a payment by following the on-screen prompts when using the Customer Portal or the App and using one of the tools SiFi makes available for the Customer to confirm payments.
12.2 For the purposes of this Agreement, sending payments from the Account means either making payments from the Account to third party beneficiaries or providers, instructing funds in the Account to be transferred to another account in the name of the Customer with a third party.
12.3 SiFi will send payments in accordance with the instructions of the Customer (and the Customer Personnel, as applicable) to third party beneficiaries or another account held in the Customer's name that the Customer specifies to SiFi in accordance with the Customer's instructions. When the Customer is making payments to itself and not to a third party beneficiary, SiFi will only make a payment to a bank account or to debit or credit card where the Customer is the named holder of such account.
12.4 All payment instructions must be made through the Customer Portal, the App or such other payment method that SiFi enables from time to time. It is the Customer's responsibility to ensure that accurate, complete and correct payment instructions for the beneficiary of a payment (including Customer payments to itself) are provided to SiFi through such channels.
12.5 If SiFi is provided with incorrect beneficiary details, SiFi will not be liable for any loss the Customer or the Customer Personnel incur, although SiFi will use reasonable efforts to assist in the recovery of such payment. SiFi reserves the right to charge the Customer a fee to cover its reasonable costs for doing this. If SiFi is unable to recover the funds on behalf of the Customer, SiFi will, on receipt of a written request from the Customer, provide all available relevant information in order for the Customer to claim repayment of the funds at no extra cost.
12.6 The Customer is required to provide SiFi with any additional information that SiFi requests with regard to a payment within two (2) Business Days of SiFi's request. The Customer consents to SiFi to provide any information including the full name, address and account number of the Customer, the Account Administrator and the Team Budget Manager (and any other details as are required to enable SiFi to comply with its anti-money laundering procedures) on the payment details to be sent to the beneficiary's bank or payment service provider to comply with anti-money laundering regulations.
12.7 The Customer may revoke or cancel a payment instruction for a future outgoing payment transaction at any time prior to payment execution through the Customer Portal. The Customer is responsible for confirming via the Customer Portal that a payment instruction has been received and processed by SiFi. SiFi shall not be liable for any loss in circumstances where erroneous duplicate payment instructions are sent to SiFi by the Customer.
12.8 If a Customer payment instruction is received after the Cut Off Time or on a day that is not a Business Day, the payment instruction will be deemed to have been received on the next Business Day.
12.9 After the receipt of a payment instruction, SiFi will provide the Customer with: (i) a confirmation of the successful or unsuccessful initiation and execution of the payment instruction; (ii) a reference number to track the status of the payment instruction; (iii) including: (a) the date and amount of the payment instruction; and (b) information relating to the payee; (iii) the amount of the payment instruction, any related fees or charges, including the actual currency and conversion rates used, and withdrawal charges, where applicable; and (iv) the date on which SiFi received the payment instruction. SiFi will ensure that all payment instructions that it sends to the Customer or third party beneficiaries under the Customer's instructions are accompanied by the information required in accordance with the SAMA Regulations.
12.10 The Customer must notify SiFi by telephone or in writing as soon as is reasonably practicable after the Customer becomes aware of any unauthorised or incorrectly executed payments. In order to claim a refund for an unauthorised or incorrectly executed payment transaction on the Account, the Customer must notify SiFi without undue delay after becoming aware of the unauthorised or incorrect transaction. SiFi shall not bear any liability for incorrectly executed payments where the Customer has failed to provide prompt notice of such matters. However, SiFi will use reasonable efforts to recover the funds from the incorrect recipient of the funds and the recipient's payment service provider.
12.11 SiFi may refuse the Customer's payment instruction because for example the Customer is in material breach of this Agreement or SiFi reasonably believes the payment to be unlawful. In these circumstances, SiFi shall notify the Customer using the Customer-provided contact details, stating wherever possible the reasons for SiFi's refusal, and the procedure for rectifying any payment detail errors that led to the refusal but SiFi reserves the right to charge the Customer a fee to cover its reasonable costs for doing this. SiFi is not obliged to notify the Customer of SiFi's refusal to execute the proposed transaction where SiFi reasonably believes that such a notification would be unlawful.
12.12 In case of a non-executed or defectively executed transaction, SiFi will rectify the error subject to the terms of this Agreement. In this case, SiFi will refund the Account with the amount of the non-executed or defectively executed transaction without undue delay and take any other action necessary to restore the account in the state in which it would have been had the defective transaction not taken place. SiFi will make efforts to trace the transaction and will notify the Customer of the outcome.
13.1 The Customer will comply with any technical and operational specifications provided or made available by SiFi with respect to the Wallet Services (the "Specifications"). SiFi will provide the Customer with thirty (30) days prior notice of any changes to the Specifications and the terms below on change of terms and conditions in this Agreement shall apply, unless such changes should be implemented with immediate effect for the best interest of the Customer and SiFi. Prior to making the Customer Portal or service generally available for commercial use with the Wallet Services, the Customer will test its own devices to ensure that they operate properly with the Specifications. The Customer shall be responsible for correcting any material errors, defects or other non-compliance of which the Customer becomes aware, including from review and test results provided by SiFi.
14.1 The Customer agrees to pay all applicable Fees whenever it uses the Wallet Services either directly with SiFi or its Affiliates or with third parties. SiFi will notify the Customer of the applicable Fees from time to time through the Application Form, the SiFi Platform, this Agreement or such other manner that allows SiFi to notify you in accordance with this Agreement, at SiFi's own discretion but prior to the Customer (or a Customer Personnel, as applicable) authorising a payment transaction. The Customer acknowledges that certain services may be restricted until the Subscription Fees are paid (as applicable). All Fees are within SiFi's discretion. If the Customer uses the Wallet Services through a third party, the Customer is only responsible for the Fees associated with transactions that the Customer authorises through that third party.
14.2 SiFi reserves the right to change its Fees at any time. Fees are assessed against the amount of the transactions, including all applicable charges (e.g., shipping, taxes, etc.). All e-money and all Fees, charges, and payments collected or paid through the Wallet Services are denominated in Saudi Arabian Riyals (SAR). SiFi will notify the Customer of any changes to the Fees at least thirty (30) days in advance of such changes coming into effect. If the Customer does not agree to these changes, it can elect not to use the Wallet Services at its convenience, and it may as well terminate this Agreement without cost to it provided the Customer tells SiFi that it wishes to terminate before the end of the period which is thirty (30) days from the date SiFi notifies the Customer of the change to the Fees.
14.3 To the extent permitted by law, SiFi may set off against the Customer's balance in the Account or debit the Customer's funding instrument for any obligation the Customer owes SiFi under this Agreement, including without limitation any Fees ("Deductions"). All Deductions are charged at the time SiFi processes a transaction and are deducted first from the transferred or collected funds and thereafter from the Customer's Account balance. If the Customer owes SiFi an amount that exceeds the balance in the Account, SiFi may charge or debit the funding instrument or the Customer will pay SiFi the full amount of the outstanding Deductions upon receipt of SiFi's invoice. The Customer will be liable for and pay SiFi upon invoice all costs associated with collection in addition to the amount collected, including without limitation attorneys' fees, court costs, collection agency fees, and any applicable penalty.
14.4 The Customer is responsible for determining any and all taxes and duties, including without limitation, sales, use, transfer, value added, withholding, and other taxes and/or duties assessed, incurred, or required to be collected, paid, or withheld for any reason in connection with any request for or performance or use of the Wallet Services, the use of the Customer Portal (and the App), the sale or purchase of any products or services, or otherwise in connection with any action, inaction, or omission by the Customer or any of its Affiliates, or any of the Customer's employees, Customer Personnel, agents, contractors, or representatives ("Taxes"). The Customer is also responsible for collecting, withholding, reporting, and remitting correct Taxes to the appropriate tax authority. SiFi and its Affiliates are not obliged to determine whether Taxes apply and are not responsible for calculating, collecting, reporting, or remitting any Taxes to any tax authority arising from any transaction.
15.1 This Agreement commences on the Effective Date and will continue unless and until terminated in accordance with the provisions in this Agreement.
15.2 Unless otherwise agreed in writing by the Customer, the Customer may terminate this Agreement at any time by contacting customer service as provided above and closing the Account. Upon closure of the Account, any pending transactions will be cancelled.
15.3 Except as otherwise agreed in writing, SiFi may terminate the Wallet Services and this Agreement, for any reason at any time by providing prior written notice to the Customer, without having to notify any of the Customer Personnel. Without limiting the foregoing, SiFi may suspend the Wallet Services and block access to the Account (including without limitation the funds in the Account) if (a) the Customer has violated the terms of this Agreement, (b) SiFi determines that it poses an unacceptable credit or fraud risk to SiFi, (c) the Customer provides or has provided false, incomplete, inaccurate, or misleading information (including without limitation any registration information) or otherwise engage in fraudulent or illegal conduct, (d) SiFi has security concerns regarding the Account, including the Credentials, or (e) SiFi suspects unauthorized or fraudulent use of the Account or any payment information in the Account. In such cases, SiFi will inform the Customer of the suspension of the Account and the reasons for it, where possible, before the suspension and at the latest immediately thereafter, unless SiFi determines giving such information would compromise security concerns or is prohibited by Applicable Law. SiFi will reactivate the Account or Credentials, or replace it or them, as applicable, once it has resolved the reasons for suspension. The Customer must notify SiFi through the methods specified above if it wishes to request SiFi to reactivate the Account.
15.4 SiFi will not be liable to the Customer for compensation, reimbursement, or damages of any kind, direct or indirect, including damages on account of the loss of prospective profits, anticipated sales, goodwill, or on account of expenditures, investments, or commitments in connection with its use of the Wallet Services, or in connection with any termination or suspension of the Wallet Services. Upon termination of this Agreement for any reason: (a) the Customer will remain liable for all Fees, charges and other payment obligations that have been incurred through the date of termination with respect to the Wallet Services; and (b) the Customer's access to the Customer Portal (and the App) will be terminated. In addition to any payment obligations under this Agreement, and any other terms which by their nature will survive the termination or expiration of this Agreement, the following sections of this Agreement survive and remain in effect in accordance with their terms upon the termination of this Agreement.
15.5 If after termination of the Agreement there are funds in the Account, upon the Customer's request, SiFi will redeem the full amount of the outstanding e-money. The Customer may request redemption of such funds to be provided by transfer to the Customer Bank Account. SiFi will process redemption request within one (1) month of receipt of the Customer's request. SiFi will do its best to provide redemption of the funds on the Account by the method chosen, but retains a discretion to determine the method to be used based on the amount of funds that the Customer holds.
16.1 SiFi uses Customer's personal data in the manner set out in SiFi's Privacy Policy and as further described in this Agreement. By using the Wallet Services and accessing the SiFi Platform, the Customer consents to the collection and use of its personal data in the manner set out in the Privacy Policy. If SiFi decides to change its Privacy Policy, it will post those changes on the Privacy Policy page so that the Customer is always aware of what information SiFi collects, how it uses it and under what circumstances it discloses it. The Customer (including any of its representatives accessing the SiFi Platform) should check the Privacy Policy frequently for changes.
16.2 SiFi will protect the Customer's personal data and maintain its confidentiality and ensure that it has in place and maintains adequate policies, procedures and controls.
16.3 Customer acknowledges and agrees that under this Agreement:
16.3.1 Customer is responsible for securing the consent of any other users of the Account (including, Customer Personnel) for the processing, use and disclosure of Customer Personnel data.
16.3.2 Customer personal information will be processed by SiFi as set out in the Applicable Law.
16.3.3 SiFi will be the controller of such personal data.
16.3.4 SiFi may use and disclose Customer's and any Customer Personnel personal data (i) for SiFi performing its obligations and the provision of any services falling under this Agreement (including, but not limited to any transactions, currency exchanges, Wallet Services and SiFi Payment Cards, as applicable); (ii) improving and developing SiFi's services, subject to SiFi not permitting the identification of Customer; (iii) to send the Customer's and any Customer's Personnel's data and account details to the Saudi Central Bank, banks and any applicable regulatory authorities; and (v) to any third party, and by such third party to any third party to the extent reasonably necessary and whether such third parties are inside or outside of the Kingdom of Saudi Arabia, in case such use and disclosure's purpose is (a) the prevention, detection, investigation and prosecution of crime and anti-money laundering, or (b) required under the Applicable Law.
16.3.5 SiFi may obtain and/or disclose to the Saudi Credit Bureau (SIMAH) or any other certified entities by the Saudi Central Bank any such information as may be required by SiFi at its own discretion, to prove, review or manage the Customer Account, the Payment Cards and any other service under this Agreement.
17.1 The Customer represents and warrants to SiFi that: (a) it is eligible to register and use the Wallet Services and have the right, power, and ability to enter into and perform under this Agreement and grant the rights, licenses and authorizations the Customer grants under this Agreement; (b) the name identified by the Customer via the Account Administrator is the true and accurate; (c) the Customer will only use the Wallet Services to transact on its own account and not on behalf of any other person or entity; (d) the Customer and all transactions initiated by the Customer and Customer Personnel will comply with all laws, rules, and regulations applicable to the Customer's business, including any applicable tax laws and regulations; (e) the Customer will not use the Wallet Services, directly or indirectly, for any fraudulent undertaking or in any manner to interfere with the use of the Wallet Services; and (f) the Customer and any of the Customer Personnel are not subject to sanctions or otherwise designated on any list of prohibited or restricted parties or owned or controlled by such a party, including but not limited to the lists maintained by the United Nations Security Council, the US Government (e.g., the US Department of Treasury's Specially Designated Nationals list and Foreign Sanctions Evaders list and the US Department of Commerce's Entity List), the European Union or its member states, or other applicable government authority.
17.2 SiFi and its Affiliates (and their licensors) make no express warranties or representations with respect to the provision of the Wallet Services.
17.3 In particular, SiFi, and its Affiliates (and their licensors) do not represent or warrant to Customer that:
17.3.1 The use of the Wallet Services will meet the Customer's requirements
17.3.2 The use of the Wallet Services will be uninterrupted, timely, secure or free from error and
17.3.3 any information obtained by the Customer as a result of the use of the Wallet Services will be accurate or reliable.
17.4 No conditions, warranties or other terms (including any implied terms as to satisfactory quality, fitness for purpose or conformance with description) apply to the Wallet Services except to the extent that they are expressly set out in the Agreement.
18.1 Nothing in the Agreement will exclude or limit SiFi's liability for losses which may not be lawfully excluded or limited by Applicable Law.
18.2 Subject to the preceding section above, SiFi, and its Affiliates (and its licensors), will not be liable to the Customer for any:
18.2.1 loss of profit
18.2.2 loss of goodwill or reputation
18.2.3 loss of business
18.2.4 loss of revenue
18.2.5 loss of data or
18.2.6 any indirect or consequential losses.
18.3 Subject to the sections above, SiFi and its Affiliates (and its licensors), will not be liable to Customer for any loss or damage which may be incurred by Customer as a result of
18.3.1 any reliance placed by Customer on the completeness, accuracy or existence of any advertising, or as a result of any relationship or transaction between Customer and any advertiser or sponsor whose advertising appears on the Customer Portal or the App.
18.3.2 any change which SiFi may make to the Wallet Services, or any permanent or temporary cessation in the provision of the Wallet Services (or any features within the Wallet Services).
18.3.3 malfunction of the Wallet Services.
18.3.4 the deletion of, corruption of or failure to store any communications data maintained or transmitted by or through the Customer's use of the Wallet Services.
18.3.5 Customer's failure to provide SiFi with accurate account information.
18.3.6 any fraudulent use of the Wallet Services by the Customer.
19.1 Pursuant to the terms of this Agreement:
19.1.1 Customer grants SiFi and its Affiliates a non-exclusive (except as set out in this section), non-sublicensable, limited license, valid for the term of the Agreement, to display Customer's Brand Elements for the performance of SiFi's obligations under this Agreement.
19.1.2 SiFi grants Customer a non-exclusive, non-sublicensable, limited license valid for the term of the Agreement, solely for Customer to display the SiFi's Brand Elements that may be provided by SiFi for that purpose from time to time, to the extent required by Customer to perform its obligations under this Agreement.
19.2 SiFi may immediately revoke the license granted to Customer in section 19.1 by providing notice to Customer. SiFi may grant Customer a reasonable amount of time to cease the use of all applicable SiFi Brand Elements, at its own discretion. Customer shall promptly cease the use of any applicable SiFi Brand Elements.
19.3 SiFi and Customer shall retain their respective rights, titles and interests to their respective Intellectual Property Rights in their own Brand Elements. Neither SiFi nor Customer grant each other, and neither SiFi nor Customer shall acquire, any right, title or interest (including, but not limited to any implied licenses) to the other party's Brand Elements except as expressly provided in this Agreement.
20.1 Customer will indemnify, defend and hold harmless SiFi and its Affiliates (and their respective employees, directors, agents and representatives) from and against any and all claims, costs, actions, suits, or demands and any related losses, damages, liabilities, judgments, tax assessments, penalties, interest, and expenses (including without limitation reasonable attorneys' fees) arising out of any claim, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises out of or relates to: (a) any actual or alleged breach of the Customer's representations, warranties, or obligations set forth in this Agreement, including without limitation any violation of SiFi's Policies; (b) any actual or alleged infringement, misappropriation or violation of any third-party rights or Applicable Law by Customer's trademarks used in connection with the Wallet Services; (c) Customer's use of the Wallet Service; or (d) any transaction submitted by the Customer through the Wallet Services.
21.1 This Agreement is available in Arabic and English languages, and Customer agrees that SiFi will communicate with Customer and Customer will communicate with SiFi in Arabic or English during the term of this Agreement. When the Customer visits the Customer Portal or the App or sends e-mails to SiFi, Customer is communicating with SiFi electronically. By registering for the Wallet Services and accepting the terms of this Agreement, Customer affirmatively consents to receive notices electronically from SiFi. SiFi may provide all communications and information related to the Wallet Services and the Account, including without limitation agreements related to the Wallet Services, amendments or changes to such agreements or any Policies, disclosures, notices, transaction information, statements, responses to claims and other customer communications that SiFi may be required to provide to Customer by law (collectively, "Communications") in electronic format. Communications may be posted to the Customer Portal or the App or sent by e-mail to the e-mail address on file for the Customer, and all such Communications will be deemed to be in "writing" and received by and properly given to Customer. Customer is responsible for printing, storing and maintaining its own records of Communications, including copies of this Agreement. This condition does not affect the Customer's statutory rights, including the right to request a copy of this Agreement.
21.2 SiFi may modify the terms of this Agreement, the Specifications, any Policy, or the features of the Wallet Services at any time however SiFi will provide the Customer with at least thirty (30) days' notice before it implements any such changes. SiFi will notify the Customer of any updated Agreement or Policy by posting it to the Customer Portal. If the Customer does not agree to any change to this Agreement, the Specifications, any Policy or feature of the Wallet Services, it may terminate this Agreement and close the Account without charge to the Customer for such termination. The Customer will be deemed to accept the changes to Policies, the Specifications, this Agreement, or the features of the Wallet Services (as applicable) if it does not terminate this Agreement by the date which is thirty (30) days from the date that SiFi notified the Customer of the change. The Customer is at all times responsible for reading and understanding each version of this Agreement and Policies.
21.3 Nothing in this Agreement is intended to or creates any type of joint venture, employee-employer, escrow, partnership, or any fiduciary relationship between the Customer and SiFi or its Affiliates. Further, neither party shall be deemed to be an agent or representative of the other by virtue of this Agreement. Neither party is authorized to, and will attempt to, create or assume any obligation or liability, express or implied, in the name of or otherwise on behalf of the other party. Without limiting the generality of the foregoing, neither party will enter into any contract, agreement or other commitment, make any warranty or guaranty, or incur any obligation or liability in the name or otherwise on behalf of the other party.
21.4 If any Force Majeure Event hinders either party's ability to perform their obligations under this Agreement, then such impacted party must provide written notice to the other party within ten (10) days from the commencement of such Force Majeure Event. Following the commencement of a Force Majeure Event, the obligation of the impacted party to fulfil its obligations under this Agreement shall be suspended until the Force Majeure Event ceases. During this period, the affected party shall not be held liable for any non-performance.
21.5 Customer may not assign or transfer any rights, obligations, or privileges that Customer have under this Agreement without SiFi's prior written consent. Subject to the foregoing, this Agreement will be binding on each party's successors and permitted assigns. Any assignment or transfer in violation of this section will be deemed null and void.
21.6 To be effective, any waiver by a party of any of its rights or the other party's obligations under this Agreement must be made in a writing signed by the waiving party. No failure or forbearance by either party to insist upon or enforce performance of any of the provisions of this Agreement or to exercise any rights or remedies under this Agreement or otherwise constitutes a waiver or relinquishment to any extent of such party's right to assert or rely upon any such provision, right, or remedy in that or any other instance; rather, the same will be and remain in full force and effect.
21.7 If any portion of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, the remaining portions of this Agreement will remain in full force and effect and, upon SiFi's request, the court will construe any invalid or unenforceable portions in a manner that most closely reflects the effect and intent of the original language. If such construction is not possible, the provision will be severed from this Agreement and the rest of the Agreement remains in full force and effect.
21.8 This Agreement shall be governed by the laws of the Kingdom of Saudi Arabia. This Agreement and any non-contractual obligations arising out of or in connection with this Agreement shall be governed and interpreted in accordance with the laws of the Kingdom of Saudi Arabia. All disputes arising from or related to this Agreement shall be determined in accordance with the dispute resolution procedures established by SAMA from time to time.
21.9 If the Customer wishes to make a complaint about the Wallet Services, it can make a complaint by notifying SiFi's customer support centre as provided above. SiFi will ensure that all complaints are handled and addressed in a fair and timely manner. SiFi will communicate with Customer regarding the complaint within a period of three (3) calendar days from the date of receipt (unless Customer notifies SiFi that the complaint has been resolved). SiFi will respond to Customer with a decision regarding Customer's complaint within five (5) calendar days from the date SiFi receives the complaint.
21.10 This Agreement, including without limitation the Policies, constitutes the entire agreement of the parties with respect to the subject matter of this Agreement, and supersedes and cancels all prior and contemporaneous agreements, claims, representations, and understandings of the parties in connection with the subject matter of this Agreement. Except as expressly provided above, no modification or amendment of this Agreement will be binding on SiFi unless set forth in writing and signed by SiFi.
21.11 By selecting the "Continue" tab at the starting screen, the Customer confirms that it has read this Agreement, it agrees to all terms, conditions, and notices contained or referenced in this Agreement, and it provides its express consent to the same.