Introduction

This payment terms applies to all payment services you receive from Kuubwa or third parties working on behalf of Kuubwa collectivel refered to as "us" or "we" in this agreement.

1. Payment Terms

You agree to have the Kuubwa Payment Entities receive payments on your behalf for items you sell using the Kuubwa Services, and manage settlement of those payments to you (referred to as "Payment Services").

Buyers may pay for items purchased from you on the Service with one or more of the following:

• Direct debit cards (American Express,MasterCard, VISA and Discover)
• Credit cards (American Express,MasterCard, VISA and Discover)
• PayPal
• Certain gift cards
• Kuubwa Coupons

We reserve the right to modify the acceptable methods of payment at our sole discretion. We or third parties acting on our behalf may require some transactions use a different form or method of payment, when this is the case you will be notified using our messaging platform to communicate the steps and changes to follow to complete the purchase.

The underlying contract for the buyer’s purchase of goods or services from you is directly concluded between you and the buyer in the same manner as for transactions for which we do not manage.

2. Payout Currency

The "Payout Currency" is the currency that we will use for settling your transaction proceeds into your Linked Financial Account. We will generally determine your Payout Currency as follows, unless you and we agree otherwise:

• If you live in any of the Africa Continental Free Trade Area (AfCFTA) countries, your payout currency will be the country's official currency.
• In the event there are more than one official currency, you will need to indicate/select the currency to use when purchasing the seller subscription. Once selected, the currency cannot be changed.
• For countries outside the AfCFTA, the default curency will be the USD unless you choose a different currency.

When payment is received from a buyer in a currency other than the sellers currency the payment is converted to the sellers currency at a exchange rate of the base rate (BR) + 1.5% to the sellers currency and the resulting amount adjusted for seller fees is available for deposit to the sellers financial institution on record as the receiving entity (FIRRE). Base Rate: The base rate is obtained from general international exchange rate from the current or prior business day.
Note: that some financial institution will char you additional fees to complete this transaction.

After payment is received you can access the payment and payments screen thorough the settlement screen in the seller portal or buyer portal.

3. Account Onboarding

In order to use our services, you must accept these Payments Terms of Use during seller registration register. Submission of the online application constitutes your offer to conclude this agreement. If your onboarding is not immediately confirmed, you will receive notification that you have been approved to receive services once we have reviewed your information. To set up and use your account for Service Payments, you must:

• link a financial institution account to receive the proceeds of payments. The financial institution must be within the country of the seller. The account must be either a bank account or a an account at a financial institution we may direct you use. Changing your financial institution may result in delays in receiving proceeds.
• You are required to provide us with all the information we may require for the purpose of verifying your identity and complying with any applicable anti-money laundering and sanctions screening obligations, and allowing us to manage settlements of your transaction proceeds, and assessing fraud and risk. Business are required to provide us with official business name, address, phone number, entity type, bank account information, tax identification number, and business number, in addition and one or more officers that act on behalf of the business.

We are not responsible for any losses suffered by you as a result of incomplete or inaccurate information you provide. By completing the seller subscription, you authorize us or our Affiliates to verify the information you provide to us, including by verifying the existence of your bank account and obtaining reports from, or comparing your information to, third-party sources. We reserve the right at our sole discretion, to close, suspend, or limit your account or prevent you accessing the Payment Services. if we are not able to close, suspend or limit access to Payment Service, your ability to sell on Kuubwa may be limited, suspended or terminated.

4. Shipping

When you receive notice that a buyer has paid for an item through our Payment Service, you must then ship or otherwise deliver the item(s) in accordance with the buyer's selection from the agreed upon shipping options you specified in the sales contract. You agree to deliver all items purchased pursuant to the terms of your listing and the User Agreement, and perform all other necessary transaction-related actions, when we notify you that we have received payment from your buyer.

5. Returns and Cancellations; Refunds

If your buyer is entitled to a refund for a return or cancellation for a Payment Service transaction, you understand that we are authorized to refund the buyer the amounts paid for returned or cancelled transactions on your behalf.

6. Our Liability

If we have acted with reasonable precautions and/or in accordance with our legal obligations, we are not liable for any unauthorized, incorrectly, unexecuted, or delayed payment transactions when such issues were caused by abnormal and unforeseeable circumstances beyond our control.

6. Security and data protection

You acknowledge the importance of the security measures we put in place with regards to Payment Service, and agree to comply with them. It is your responsibility to maintain the security of all passwords, codes, or other login credentials used to access your Kuubwa account and the related Payment Services and, subject to Kuubwa’s seller protection policies, for any transactions made or actions taken using your Kuubwa account.

If you become aware of any unauthorized payment transaction or of a delayed or incorrectly executed transaction, you must notify us immediately by using a contact method stated in the "Introduction" of these Payments Terms of Use, above.

Data Protection Applicable to Payment Services Provided by Kuubwa and third party providers

Our Payment Services handles the processing of your buyer’s personal data for each sale. You, the Payment Entity, and the Payout Entity each act as a separate data controller under the applicable data protection laws (which may without limitation include, government data protection laws to which you may be subject). You agree to comply with your obligations as a data controller pursuant to any applicable data protection laws, and provide us with all such reasonable cooperation, information, and assistance as necessary for us to meet our requirements as a data controller.

7. Amendment

We reserve the right to amend these Payments Terms of Use by notifying you of the changes in writing by posting a revised version of these terms on our website, including the Seller Hub Message center. We will notify you at least fourteen (14) days prior the anticipated effective date of such change. Fee changes will be communicated to you on our Fee Page, and may take immediate effect.

If you do not agree to the changes, you may terminate these Payments Terms of Use, pursuant to Section 8 ("Termination") below, without any extra cost at any time before the effective date of the changes. If you disagree with any provisions of these Payments Terms of Use, your ability to sell on Kuubwa may be suspended or ceased. We always publish the amended Payment Services Terms of Use on the Kuubwa website.

8. Termination

if you use Payment Service after such termination, you will be deemed to have again accepted these Payments Terms of Use. Once you have registered for Payment Service on Kuubwa and your Kuubwa account has been enabled, the use of Payment Service effectively becomes a condition to using your Kuubwa account.

Termination of this Agreement shall be deemed termination of your ability to sell on Kuubwa. Termination of this Agreement shall not affect the rights or liabilities of either party accrued until termination and/or any terms intended (expressly or implicitly) to survive termination. If there are pending payment transactions at the time the termination takes effect, they will be processed pursuant to terms of these Payments Terms of Use unless prohibited by law. As of the effective date of the termination, you will not be able to contintinue to list any items on Kuubwa Services.

9. Assignment

In our sole discretion, we may assign our rights and obligations under these Payments Terms of Use and, in such event, we will notify you accordingly.