THIS AGREEMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH AKATUA WILL PROVIDE ITS PAYMENT SERVICES. THIS AGREEMENT DESCRIBES USER'S RIGHTS AND OBLIGATIONS WHEN USING THESE SERVICES. USER MUST READ THE AGREEMENT CAREFULLY AND BE SURE USER UNDERSTANDS THESE TERMS AND CONDITIONS.

CREATION OR USE OF AN AKATUA ACCOUNT MEANS USER UNCONDITIONALLY ACCEPTS ALL THE TERMS AND CONDITIONS OF THIS AGREEMENT.

THE PARTIES TO THIS AGREEMENT ARE THE ISSUER AND THE USER.

1. Definition of Terms

1.1. Available Balance: means the total balance of a particular account in Akatua minus any accrued fees. The balance in an account in Akatua is redeemable via bank deposit/transfer.
1.2. Login Details: means an Email address and a Password, known only by the user, required to enter into an Akatua account.
1.3. Account: means the electronic account created by the user on Akatua's website to carry out online payment transactions throught the Akatua gateway.
1.4. Issuer / Akatua: means Akatua Transactions, a duly registered subsidiary of Akatua Payment Systems Ltd, that operates an online payment gateway service which allows users to send and receive payments (the "Service").
1.5. Merchant: is an individual or a legal entity, which provides the sale and/or purchase of goods and/or services that accept Akatua as a payment option.
1.6. User: means the person (individual or legal entity) that creates an Akatua account. User is the owner of the account from the perspective of Issuer.
1.7. Service: means an online payment service.
1.8. Website: means the internet website property of Akatua available at www.akatua.com
1.9. GHS: means Ghana Cedi, currency of the Republic of Ghana

2. Conditions of Use

2.1. In order to use Akatua's payment services User must first open a User Account by registering on www.akatua.com. As part of the signup process User needs to accept these Terms of Service and Issuer's Privacy Policy.

2.2. User hereby agrees and declares that User is 18 years or older, at the time of opening an Akatua Account. Issuer reserves the right to request evidence of Users age at any given time.

2.3. User may only open one Account. Issuer reserves the right to restrict or terminate multiple accounts linked to the same User.

2.4. User must provide Issuer with valid and accurate identification information as determined by Issuer in the sign up process, Issuer reserves the right to verify the said information from time to time. User's non-compliance with this condition of use will allow the Issuer to restrict the account without notice.

2.5. When opening an account, User shall create Login Details in order to access and manage their Akatua Account. These information are known only by User, and User must keep them secure enough as set forth in section four of this terms of service.

2.6. User agrees to create a secure password. In order to consider a password secure it shall (i) combine letters, symbols and numbers, (ii) not include users name or personal information, (iii) be different from the ones used on other websites.

3. User Obligations.

3.1. No person other than the User has any rights in relation to the funds in User's Akatua account, except for succession cases. User may not assign nor transfer an Akatua account to a third party or grant a third party legal or equitable interest over it.

3.2. User hereby agrees to comply with security recommendations given by Issuer and the breach of this obligation releases Issuer from any and all responsibilities relating to the said User's Account, furthermore Issuer may take action to secure Issuer's system safety.

3.3. User must ensure that the information recorded on the account is accurate and up to date and Issuer shall not be liable for any loss arising out of User's failure to do so. Issuer reserves the right to confirm the accuracy of the information provided by User or to provide documents or other evidence, at any time.

3.4. User is responsible for checking regularly the proper functioning of User's e-mail account or other methods of communication that User has registered to communicate with Issuer. Issuer shall not be liable for any loss arising out of Users failure to do so.

3.5. All payments sent/received are displayed in your transactions history together with the fees charged. User should check the Account balance and transaction history regularly. User should report any irregularities as soon as possible by contacting Customer Service.

4. Protection of Password

4.1. Issuer's system works in such manner that Issuer's officers, employees, managers, share holders or officials are not able to access User's Login Details, Issuer may only at Users request reset User's Account for Users to create new password. Therefore, User is the only party responsible for the protection of User's Login Details, which are solely created by the User, which gives access to User's Akatua account. Said Login Details are secret and personal. User agrees that, in the event of the loss or misuse of User's Login Details, Issuer disclaims all liability for such loss. User shall indemnify and hold harmless Issuer for relying on transactions authorized using User's Login Details prior to such time as User notifies Issuer that User's Login Details have been compromised. User hereby agrees to keep their Login Details under the outmost confidentiality including but not limited to third parties to this agreement.

4.2. User acknowledges and accepts that in the case of a claim of unauthorized transactions, the presumption shall be that all transactions are authorized by and are the liability of the User.

4.3. User must not divulge User's Login Details to anyone else, nor may User use anyone else's Login Details. User agrees that Issuer will treat any person accessing User's account with User's Login Details as the User.

4.4. Issuer is not responsible for losses incurred by User as the result of User's misuse of Login Details.

4.5. User agrees that any action taken by any person using User's Login Details shall be binding on User and all other parties with an interest in that account.

4.6. User hereby acknowledges that Login Details are confidential and constitute a substitution to their hand written signature, since it is physically impossible to seal it. Therefore these Login Details have the same legal effects that a hand written signature, therefore having the same probative value in a court of law; hence the user is responsible before Issuer of the misuse of Issuers services. The Login Details are neither transferable nor delegable.

5. Indemnification

5.1. User agrees to indemnify and hold harmless Issuer, its agents, affiliates, officers, directors and employees from any claim or demand whatsoever relating to or arising out of User's use of the Akatua system, except for any loss caused by willful misconduct of Issuer previously declared by a court of a competent jurisdiction.

5.2. The Issuer will not be responsible for any claim unless it has been caused by willful misconduct, default or fraud. In particular, the Issuer will in no way and under no circumstances be liable for any damages or losses, including, without limitation, direct, indirect, consequential, special, incidental or punitive damages deemed or alleged to have resulted from or caused but not limited to the following causes: (i) payments made to unintended recipients; or (ii) payments made in incorrect amounts due to the input of incorrect information by sender; (iii) payment made by a third party who passes all identity and verification checks; (iv) any fraud, deception or misrepresentations by User, whether or not the User is verified in any manner; (v) any damages resulting from a recipient's decision not to accept a payment made through Akatua, (vi) any errors or omissions in the website content, (vii) the misuse of the website content or the inability of any person to use the site, (viii) delays, losses, errors, or omissions resulting from failure of any telecommunications or any other data transmission system and the failure of the central computer system or any part thereof; and (ix) any result of any acts of government or authority or any act of God or force majeure.

6. Privacy

6.1. The processing of your data is governed by our Privacy Policy which also can be found on our website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms of Service.

6.2. Issuer collects, stores, and processes your data in accordance with Issuer's Privacy Policy.

6.3. If User detects any error in the data Issuer holds on them, User should correct the data in Users Account profile or, where this is not possible, by contacting Customer Service.

6.4. As a default, User may receive e-mail newsletters with information about new product features, events, promotions, special deals etc. By accepting these Terms of Use, User agrees to receive such e-mail newsletters on a regular basis. If User does not wish to receive any newsletters from Issuer, User can opt out at any time by logging into Users Account and change the appropriate setting in the Account profile. User can also opt out of receiving newsletters by contacting Customer Service. Any e-mail newsletter User receives will also offer an option to unsubscribe from any future newsletter.

6.5. After termination of Users Akatua Account for any reason, Issuer will continue to hold Users personal Account data for a period of five years or such other period as prescribed by applicable law.

7. Rights of Issuer

7.1. Issuer reserves the right to appoint third parties to fulfill specified governance roles, including, but not limited to: (1) Trust, (2) Auditor, (3) Operator.

7.2. Issuer may set value limits (balance, withdrawals, etc.) on a Akatua Account based on the sufficiency of the identification information provided by User or by order of a court or arbitration body acceptable to Issuer.

7.3. Issuer may restrict User's ability to use more than one Akatua account in an attempt to circumvent the value limit.

8. Fees

8.1. Issuer reserves the right to assess and collect the following fees from User's account: (i) Buyer Fee; charged to User by Issuer after successfully making an online payment; (ii) Merchant Fee, deducted by Issuer from the User's account for receiving an online payment, these fees are available in Issuers web page on the Fees page; (iii) Administrative Fees, collected by Issuer for providing support to User when User contacts Issuer and Issuer is not at fault.

8.2. All fees are set forth by the Issuer at its sole discretion and published at any time on the Issuer's website and are subject to change at the Issuer's sole discretion from time to time.

8.3. Fees can be viewed at any time in the Fee section on our Website. You should print or download and keep a copy of the Fee section together with a copy of these Terms of Service. Fees are subject to change without prior notice.

8.4. Our Fees are either expressed as a percentage of the transaction, as a fixed amount, or both, with minimum and maximum fees limits, available for User in Issuer's website in Issuer's fees link.

9. Restriction, Securing and Termination of an Account

9.1. Issuer may terminate User's Akatua Account or any payment service associated without prior notice. User may terminate Users Account with Issuer at any time.

9.2. Issuer may at any time restrict or terminate an Account without notice in case: (i) User breaches any condition of these Terms of Service or any other condition applicable to specific services covered by separate terms and conditions; (ii) User violates any applicable law or regulation, (iii) Issuer suspects User's receipt of potentially fraudulent funds; (iv) Issuer must comply with money laundering investigations conducted by competent government authorities agencies or commissions; or (v) Issuer must comply with other investigations conducted by competent government authorities, agencies or commissions

9.3. Issuer may secure User's Account at any time if: (i) Issuer reasonably believes that User's Account has been compromised or for other security reasons; or (ii) Issuer reasonably suspects User's Account has been used or is being used without Users authorization or fraudulently; and Issuer shall notify User either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless law prohibits Issuer said notification; or

9.4. Issuer will terminate a User's Account if User uses, or attempts to use their Akatua service in connection with tampering, cracking, modifying or otherwise corrupting the security or functionality of Issuers system. Additionally, User will be subject to damages and other penalties, including criminal prosecution where available and the notification of the general public of User's actions, at the sole discretion of Issuer.

9.5. Issuer will terminate Users Akatua Account if User alters, modifies, or changes Issuer's trademarks, or attempts to do so.

9.6. Issuer will restrict, secure or terminate or remove a restriction, security or reinstate an Akatua account, if ordered to do so by an order from a court of competent jurisdiction or arbitration body of competent jurisdiction.

9.7. Applicable fees will continue to be assessed on a restricted or secured account.

9.8. Issuer will not close and or reverse inactive Akatua accounts. An inactive account with a balance shall remain dormant forever, continuing with an assessment of fees, unless and until an heir presents valid documentation entitling the heir to inherit the account.

10. Force Majeure

10.1. Issuer will not be responsible for delays or failures in the transmission, receipt or execution of orders, payments, deliveries or information due to events beyond its control. The obligations of this Agreement precede any government enactment.

11. Trademarks

11.1. Issuer retains all right, title, and interest in and to trademarks. User shall only use Akatua trademarks with the express written permission of Issuer. User shall not use Issuer's trademarks in any manner that is disparaging to Akatua. Under no circumstances may a User alter, modify, or change Issuer's trademarks.

12. Third Party Links

12.1. Issuer provides links to other web sites that may be of interest for Users, solely for the convenience of Users. Any such linked site does not constitute part of the Akatua Network unless expressly stated. User understands and accepts that the Issuer is not responsible for the privacy practices, or the content of any such web sites.

12.2. User acknowledges and agrees that Issuer (and its directors, affiliates, officers, employees and agents) give no warranties or representations in connection with any links to other web sites or the operations of those web sites and in no way guarantees the use of such web sites or the services offered, included but not limited to the services of any Merchants.

13. Changes to these Terms of Service

13.1. These Terms of Service and any additional terms and conditions that may apply to additional services are subject to change. Changes will be implemented with prior notice from Issuer under the procedure set forth in this section.

13.2. Akatua shall give notice of any proposed changes by announcing said changes on it's website, blog, and social media platforms.

13.3. Proposed changes shall come into effect thirty work days after the date of the change notice, unless User has given Issuer notice that User objects to the proposed changes before the changes come into effect. Changes that make these Terms of Service more favorable to User shall come into effect immediately if so stated in the change notice. Changes to service fees shall come into effect immediately without notice and User shall not have the right to object to such changes.

13.4. If User objects to the changes they will not apply to User, however, any such notice of objection shall constitute a notice to terminate and close Users Account.

14. Waiver

14.1. Failure to exercise or delay in exercising any right, power or remedy hereunder by Issuer shall not operate as waiver thereof, nor shall any single or partial exercise of any right, power or remedy of Issuer hereunder preclude any other or future exercise thereof or the exercise of any other right, power or remedy.

15. Assignment

15.1. The provisions of this Agreement shall be continuous and shall inure to the benefit of Issuer, its successors and assigns, and shall be binding upon User and/or the estate, personal representatives, administrators and successors of User. Issuer may assign its rights and delegate its duties as to any or all transactions under this Agreement. User shall not delegate any obligations hereunder without the prior written consent of a duly authorized officer of Issuer and any attempt of such delegation without such consent shall be void.

16. Governing Law and Jurisdiction

16.1. This Account Agreement shall be governed by and construed in accordance with the local applicable laws.

17. Jurisdiction

17.1. The parties hereby submit to the mutually agreeable jurisdiction or competent Arbitration Centers.

18. Severability

18.1. In the event that any provisions of this Agreement shall be determined by an arbitration body or a court of competent jurisdiction to be unenforceable in any jurisdictions, such provision shall be unenforceable in that jurisdiction and the remainder of this Agreement shall remain binding upon the parties as if such provisions were not contained therein. The enforceability of such provision shall otherwise be unaffected and remain enforceable in all other jurisdictions.

19. Entire Agreement

19.1. This Agreement constitutes the entire and whole Agreement between User and Issuer and is intended as a complete and exclusive statement of the terms of the Agreement. This Agreement may be amended from time to time at the Issuer's sole discretion and shall oblige the User upon User's failure to object such amendment within 10 days after being posted on Issuer's website.