Terms of service
GENERAL PAYMENT SERVICES AGREEMENT
1. GENERAL PROVISIONS
1.1 This Agreement
establishes the basic rights and obligations of wasit-Arab and wasit-Arab by
registering the Client in the System and using the services provided by wasit-Arab.
In addition to this Agreement, the relationship between the Client and wasit-Arab
is also governed by applicable law, other agreements, rules and principles of
reasonableness, good faith and fairness. If you have any questions about the
terms of this Agreement or the specifics of the services provided by wasit-Arab,
you can contact wasit-Arab by email at support@wasit-Arab.com.
1.2 The Client should
carefully study this Agreement before deciding to register in the System and
use the services provided by wasit-Arab. This Agreement defines the inherent
risks when using the System and provides guidelines for the safe use of the
System and wasit-Arab services.
1.3 The terms used in
the Agreement in capital letters have the following meanings:
Acceptable
language
Arabic, English and
Russian languages.
Personal data
any information
concerning a natural (private) person whose identity is known or can be
directly or indirectly identified using a personal code (national
identification number), one or more physical, physiological, psychological,
economic, cultural, social or other personal characteristics of face
identification.
Business Day
wasit-Arab is
the working 7 days from 10AM-11PM when wasit-Arab provides Payment services.
Unless otherwise specified in other agreements concluded with the Client or in
other documents published by wasit-Arab.
Tariffs
commissions and
prices (prices) of operations and services performed by wasit-Arab in the
System you can find in our rates.
Client
an individual or
legal entity that has entered into this Agreement for the services of wasit-Arab.
Client identification
identification of the
Client and / or his representatives in accordance with the procedures specified
in the System.
Commission
wasit-Arab the fee
charged for the Payment Transaction and / or related services.
The supervisory
authority is UK.GOV of UNITED KINGDOM, which controls the activities of wasit-Arab,
address CORPORATION TAX SERVICES BX91AX UNITED KINGDOM.
1-1. The public list of
payment institutions is also published on the website of the
2. REGISTRATION IN THE
SYSTEM AND CREATION OF THE ACCOUNT
2.1 Before using wasit-Arab
Payment services, the Client must register in the System and create an Account.
Authentication and registration of the Client in the System is carried out in
accordance with the current legal requirements. For proper authentication of
the Client in the System, the Client needs to provide only known information to
log in to the System (knowledge factor: by entering data for logging into the
System or logging into the System through the Client’s personal account on the
social network), as well as enter the PIN- a code known only to the Client. In
some cases, the Client may be asked to enter into the System an additional code
generated using only the Client’s mobile device (ownership factor).
2.2 Only persons at
least 18 years of age are eligible to register in the System.
2.3 To register the
Client in the System on behalf of an individual or legal entity, the head of
the legal entity or another representative of the Client who has the powers
specified in legal acts and / or in the documents of the legal entity’s
activity has the right. When registering a Client in the System on behalf of a
legal entity, the Client’s manager or other representative confirms that he is
a legal representative of this legal entity, has been duly elected or appointed
and confirms that the legal entity that he represents is duly created and
operates legally. … The manager of the Client as a legal entity or other
representative of the Client as an individual or legal entity must identify
himself in accordance with the procedures established in the System by
submitting documents,
2.4 The creation and
maintenance of an Account is free of charge, except in special cases provided
by wasit-Arab.
2.5 When clicking on the
button in the System, indicating to the Client that the Client agrees with the provisions
of the Agreement, it is considered that the Client has read and agrees with the
terms of this Agreement and undertakes to comply with them. After the Client
has properly completed all the registration actions in the System (i.e. after
proper registration in the System), the Agreement comes into force.
2.6 The Client
guarantees that both when registering in the System and later changing and
submitting data, only correct data about the Client and his representatives
will be provided.
2.7 In the cases and in
the manner provided for by the Agreement or the System, the Client must approve
the Account, the provision of a new Payment service or a part thereof, and
complete the Client identification procedure in order for wasit-Arab to start
or continue the provision of Payment services. The Client identification
procedure, Account Confirmation and New Payment Service are performed in order
to protect the interests of the Client and wasit-Arab.
2.8 wasit-Arab has the
right to demand from the Client such data and / or documents that may be
required to identify the Client and / or obtain essential information about the
Client, which is necessary for the proper provision of wasit-Arab Payment
services. The specific data and / or documents provided will be indicated in
the notification to the Client about the need to go through the identification
procedure.
2.9 Performing
identification of the Client, wasit-Arab has the right to require the Client to
perform the following actions:
2.9.1 provide wasit-Arab
with the necessary originals and / or copies of the Client’s documents and / or
copies of documents certified by a notary or another state authorized person;
2.9.2 wasit-Arab,
fulfilling its legal obligation to identify the beneficiary, has the right to
require the Client to provide a valid list of shareholders of the legal entity
he represents. When providing this list, the Client must confirm that it is
current and accurate, and that the specified shareholders hold shares on their
own behalf, and not on behalf of third parties (and if so, these circumstances
must be specified additionally, including third parties who actually manage
shares). wasit-Arab does not provide and has the right to refuse to provide
Payment Services if it is found that it is impossible to determine the
beneficiaries of a legal entity (for example, the beneficiaries of a legal
entity are holders of bearer shares).
2.10 Client
identification can also be performed using the Paysera/ Vodafone/Skrill/Neteller
authentication , when information about the Client from Paysera is transferred
to wasit-Arab. By signing this Agreement, the Client agrees, among other
things, that the identification of the Client can be carried out in the same
way as described in this clause.
2.11 In some cases, when
fulfilling the obligations established by law or, if required by the types of
documents, wasit-Arab has the right to require the Client to perform the Client
identification procedure in a certain way specified by wasit-Arab.
2.12 wasit-Arab has the
right to demand from the Client additional information and / or documents
related to the Client or the operations performed by the Client, in order to
fill out and periodically (at least once a year) updаte the data of the
Client’s questionnaire. wasit-Arab has the right to demand that the submitted
copies of documents be certified by a notary and / or translated into at least
one of the Acceptable languages of wasit-Arab. All documents and information are
prepared and provided at the expense of the Client. If the Client does not
provide additional information and / or documentation within a reasonable
period of time set by wasit-Arab, wasit-Arab has the right to suspend the
provision of all or part of the Payment Services to the Client. Notice that
2.13 wasit-Arab
undertakes to consider messages sent via the System, notifications about
Client’s Payment transactions, concluded agreements and Payment services, if
the username and password were correctly indicated at the beginning of the
communication session, to be considered signed and confirmed by the Client and
sent by wasit-Arab.
2.14 The Client
undertakes to consider that the Client is properly identified, to confirm and
consider the messages, instructions and documents sent through the wasit-Arab
System signed and approved, if at the beginning of the communication session
the Client indicated the correct Client’s username and password.
2.15 Username and
password of the Client, other information that is entered during the
authentication of the Client is considered confidential information, therefore
the Client (including his / her representatives) undertakes to store this
information, not provide or create conditions for its provision to third
parties, immediately inform wasit-Arab if a third party has access to this
information or there is such suspicion.
2.16 The Client is
obliged to immediately notify wasit-Arab in writing (for example, in the wasit-Arab
System or by e-mail) of any changes in his personal data.
3. PROVISION OF PAYMENT
SERVICES
3.1 The Client or the
Client’s representative, authorized to manage the Account, will be able to use wasit-Arab’s
provided Money Transfer services and Additional Services only if they are
properly connected to the Client’s Account.
3.2 After connecting to
the Account, the Payment Service may be provided between accounts opened with
different electronic money institutions or banks on behalf of the same Customer
and an account with an electronic money institution or bank opened in the name
of another person, or, in In the case of the Additional Service, the currency
exchange service can be provided to the same or another account with an
electronic money institution or a bank account opened in the name of the
Client, after the Client has submitted the relevant Application in the System.
3.3 The updated list of
banks and electronic money institutions, from which and to which Payment
Transactions can be made, is presented in the System.
3.4 A payment
transaction is considered authorized only after receiving the Client’s Consent.
The Client gives his Consent electronically by sending a Payment Order, i.e. by
transferring funds to the wasit-Arab account with an electronic money
institution or a bank. The consent approved in this way is considered to be
duly certified by the Client (his representative) and has the same legal force
as a paper document (Consent), can be used as a means of evidence in resolving
disputes between wasit-Arab and the Client in courts and other institutions,
and The Client does not have the right to dispute the executed Payment
operation by wasit-Arab if the Payment operation was confirmed with the Consent
provided in the manner specified in this clause.
3.5 To perform a Payment
Transaction, the Client must submit an Application in strict accordance with
the instructions that are valid at the time of submitting the Application and
specified in the System.
3.6 After receiving the
completed Application properly and in accordance with the current instructions
specified in the System, wasit-Arab estimates the amount of the transferred
amount, conducts a preliminary check, if necessary, requests confirmation of
the Account in accordance with the provisions of this Agreement and, at its
discretion, makes a Payment offer to the Client …
3.7 The Client who
agrees with the Payment offer presented by wasit-Arab submits the Payment order
to wasit-Arab by making the payment, i.e. by transferring funds to the wasit-Arab
account with an electronic money institution or a bank. Initiating a payment to
the wasit-Arab account is the Client’s Consent to perform a Payment Transaction
and such Consent cannot be revoked until the receipt of the Payment Order
(unless certain exceptions are provided in this Agreement).
3.8 The moment of
receipt of the Client’s Payment order is the moment when wasit-Arab receives
the Payment order, i.e. when wasit-Arab receives funds in its bank account or
account with an electronic money institution and can dispose of them. If such
moment of receipt of funds is not a wasit-Arab Business day, it is considered
that the funds were received on the next wasit-Arab Business day. Funds
received by wasit-Arab on a Business day outside wasit-Arab’s business hours
are considered received on the next wasit-Arab Business day.
3.9 wasit-Arab, prior to
the execution of the Payment operation initiated by the Client in accordance
with the Agreement, at the request of the Client is obliged to provide
information on the maximum execution time of this Payment operation, the amount
of the Commission and the components of the amount of the Commission.
3.10 wasit-Arab Payment
transactions in euros Banks are executed by the end of the next Business Day
from the date of receipt of the Payment Order, after completing the procedure
for checking suspicious payments and making sure that the Client complies with
the legal requirements.
3.11 wasit-Arab Payment
transactions in the currencies of Eurozone countries (in Uk and other EU /
Egypt /Algeri member states) are executed no more than 3 (Bank Euro is) 2
Business days from the date of receipt of the Payment order, after the
procedure for checking suspicious payments and making sure that the Client
complies with the legal requirements.
3.12 wasit-Arab has the
right to record and store any Orders and Payment Orders submitted by the
Client, as well as record and store information on any Payment Transactions
performed in accordance with the Payment Order submitted by the Client. The
records referred to in this clause may be provided by wasit-Arab to the Client
and / or third parties who have legal grounds for obtaining such data, as
evidence of confirmation of the submission of Applications, Payment Orders and
/ or Payment Transactions.
3.13 The Applications
and Payment Orders submitted by the Client must comply with the legal
requirements and the requirements of wasit-Arab for their presentation and / or
content.
3.14 wasit-Arab has the
right to refuse to execute the submitted Application and / or Payment order if
there are reasonable doubts that the Application or Payment order was not
submitted by the Client or his legal representative, or the documents submitted
by wasit-Arab are falsified. If wasit-Arab has reasonable doubts as to whether
the Application or Payment Order was submitted by the Client or his legal
representative, or if there are doubts about the authenticity of the documents
presented in wasit-Arab, or if there are any other doubts about the legality or
content of the submitted Application or Payment orders, wasit-Arab has the
right to demand that the Client, at his own expense and in a form acceptable to
Waset-Arab, additionally confirm the submitted Application or Payment order and
/ or provide wasit-Arab with documents, confirming the right of persons to
dispose of funds or other documents specified by wasit-Arab. In the cases
referred to in this clause, wasit-Arab acts to protect the legitimate interests
of the Client, wasit-Arab and / or others and therefore wasit-Arab is not
responsible for any losses that may arise as a result of refusal to execute a
Payment Order or provide a corresponding Payment Offer.
3.15 Prior to the
execution of the Orders, Payment Orders submitted by the Client or the
submission of the corresponding Payment offers, wasit-Arab has the right to
require the Client to provide documents confirming the legal origin of the
money related to the execution of the Orders or Payment Orders. If the Client
does not provide such documents, wasit-Arab has the right to refuse to submit
the relevant Payment Orders and / or execute Payment Orders.
3.16 wasit-Arab has the
right to use third parties for partial or full execution of the Payment Order
submitted by the Client, if this is required for the interests of the Client
and / or the nature of the execution of the Payment Order requires it. If the
nature of the Client’s Payment Order requires that the transfer be sent and
then executed through another financial institution, but this financial
institution holds the Money Transfer in accordance with its internal
procedures, wasit-Arab is not responsible for such actions of the financial
institution, but makes reasonable efforts to identify the reasons such
retention. wasit-Arab has the right to suspend and / or terminate the execution
of the Payment order submitted by the Client, or to provide a Payment offer,
3.17 wasit-Arab,
refusing to execute the Payment order submitted by the Client and / or provide
a Payment offer, must immediately notify the Client or provide access to such
notification, unless such notification is technically impossible or prohibited
by applicable law.
3.18 wasit-Arab does not
accept and does not execute the Client’s Payment Order and / or does not
provide a Payment Offer for performing operations at the Client’s expense if wasit-Arab
knows that the Client’s funds are seized or the Client’s right to dispose of
the funds is limited by other legal means, including when the operations,
executed by wasit-Arab are suspended in cases determined by applicable law.
However, the Parties agree that wasit-Arab is not obliged to verify that the
Client’s funds have not been seized or that the Client’s right to dispose of
funds is not limited by any other legal means, and wasit-Arab is not
responsible for the Client’s right to dispose of funds.
3.19 Upon receipt of the
Payment Order, wasit-Arab immediately creates an opportunity for the Client to
access the following data when entering his Account:
3.19.1 Information
allowing the Client to identify each Payment Transaction, and information
concerning the recipient;
3.19.2 The amount of the
Payment Transaction in the currency specified in the Payment Order;
3.19.3 The amount of the
Payment Transaction Fee and its constituent parts;
3.19.4 Currency exchange
rate used by wasit-Arab and the amount of the Payment operation after currency
exchange, if the currency was changed by performing the Payment operation;
3.19.5 Date of receipt
of the Payment order.
3.20 The Client, having
entered the System, can check the history of his Payment transactions, as well
as the information specified in clause 3.19 of the Agreement.
3.21 The Client agrees
that wasit-Arab, when performing a Payment operation, will transfer the
Client’s personal data stored in wasit-Arab directly to persons associated with
the execution of such a Payment operation, such as electronic money institutions,
banks and others.
3.22 A payment order
cannot be canceled after the Client has made a payment – transferred funds to wasit-Arab’s
account at an electronic money institution or bank, except as provided in the
Agreement or it is separately agreed between the Client and wasit-Arab.
3.23 wasit-Arab has the right, but not the obligation, to check whether the
Unique Identifier specified in wasit-Arab corresponds to the received
Application or Payment Order specified in the Payment Transaction with the
Beneficiary’s account number with the electronic money institution or bank
(IBAN). If wasit-Arab conducts such a check and reveals a discrepancy between
the unique identifier provided by wasit-Arab and the data specified in this
clause of this Agreement, wasit-Arab has the right not to execute such Payment
order and / or not to provide a Payment offer.
3.24 If the Client
specifies the Unique identifier of the beneficiary for the execution of the
Payment order, such Payment order shall be deemed to be duly executed in
relation to the beneficiary and / or his payment account indicated in the
Unique identifier. If the Unique identifier provided by the Client is
erroneous, wasit-Arab is not responsible for non-execution or improper
execution of the Payment Transaction, but makes every possible effort to track
the Payment Transaction and strive to return the funds of the Payment
Transaction. If a refund is not possible, wasit-Arab, at the request of the Client
by e-mail (support@wasit-Arab.com) or in his Account, provides the Client with
all available information that is relevant to the Client so that he can take
legal remedies,
3.25 In all cases, when
executing a Payment order, wasit-Arab must be able to identify at least the
beneficiary’s account number (IBAN) (Unique identifier of the beneficiary in
the Payment order). If necessary and / or at the request of other government
agencies, wasit-Arab has the right to require additional and / or other
mandatory information that must be provided to wasit-Arab for the correct
execution of the Payment Transaction.
3.26 If, according to
the Payment order, money is returned for reasons beyond the control of wasit-Arab
(inaccurate data provided by the Client, etc.), the amount to be returned is
credited to the account of the Client from which the transfer was made to wasit-Arab.
Payments paid by the Client for the execution of the Payment Transaction are
not refundable, as well as the costs associated with the refund, wasit-Arab
paid payments and taxes, can be deducted from the amount to be returned.
3.27 If the Client
provides an erroneous Payment Order or provides incorrect data, but the Payment
operation has not yet been completed, the Client may ask wasit-Arab to clarify
the Payment Order. wasit-Arab is not obliged to agree with such clarification
of the Payment Order. If necessary, after adjusting the Payment order, wasit-Arab
will present a new Payment proposal with the adjustments. For clarification of
the Payment Order, the Tariffs specified in the System are applied.
3.28 If wasit-Arab is
unable to credit the funds indicated in the Payment Order to the Client due to
an error in the Application and / or the Payment Order, but the Client asks
that such funds be returned to the Client’s account from which they were
transferred, then the Payment Order may be canceled and the funds are returned
to the Client’s account from which they were transferred. In this case, the
Tariffs specified in the System for cancellation of the Payment order are
applied.
3.29 In all cases when wasit-Arab
receives a Payment order and funds that cannot be credited due to errors or
lack of information in the Application and / or Payment order, and the Client
does not apply to wasit-Arab with a request to correct the Application and / or
Payment order, or return of funds, wasit-Arab takes all reasonably possible
steps to track the Payment transaction in order to obtain updated information
about the Application and / or the Payment order to complete the Payment
transaction. In this case, the Tariffs for correcting the Payment Order
specified in the System are applied.
3.30 If it is impossible
to apply any of the tools for tracking a Payment transaction, also in cases
where, according to the Application and / or Payment order submitted and / or
specified by the Client, it is still impossible to determine the account data
to which funds should be transferred and the Client does not specify Payment
order, wasit-Arab returns to the Client the amount of unfulfilled or
incorrectly executed Payment operation.
3.31 The Client, having
noticed that non-belonging funds have been credited to his account opened with
an electronic money institution or a bank, must immediately notify wasit-Arab.
The client has no right to dispose of non-owned and mistakenly credited funds.
If funds were credited to the Client’s account by mistake or for other reasons
that have no legal basis, the Client unconditionally undertakes to return the
incorrectly credited money to wasit-Arab within 3 (three) Business days from
the receipt of the request from wasit-Arab.
4. COMMISSIONS AND OTHER
PAYMENTS
4.1 The Client
undertakes to timely and properly pay all commissions and other fees provided
for by this Agreement and other agreements concluded between the Client and wasit-Arab.