Wafer Platform Usage Agreement Introduction

 

Introduction

Investing in the real estate sector is associated with high risks and may result in the complete loss of your investment. You should not invest money that you cannot afford to lose, and in the event of a loss, it is limited to the amount invested only. Investing through the Wafer platform is a long-term investment and is suitable for long-term investors. Investment opportunities are currently reserved for citizens and residents of the Kingdom of Saudi Arabia. The user must read this agreement carefully as it explains the details of the service provided by Wafer platform and specifies the obligations and rights between Wafer platform and the user. It is prohibited to use the platform if you do not understand all the articles of the agreement.

This agreement governs the usage of the Wafer platform and all its sub-pages and regulates all contractual relations with the Wafer platform.

 

Article One: Definitions

BLOMINVEST Saudi Arabia (“BLOMINVEST”) (“Company”):

BLOMINVEST with commercial registration No (1010254040) dated 24/07/1429 H, headquartered in Riyadh, and license No 37-08094 issued by the Capital Market Authority on 27/5/2009 to offer the services of dealing, managing investments, operating funds, Advising and custody of securities. 

 

The user:

A natural person who benefits from the services of Wafer platform.

Platform / Wafer / Wafer platform:

It is an electronic platform owned by BLOMINVEST, through which subscriptions in funds are provided.

Investment funds/funds/fund:

In addition to the definition in the Capital Market Authority’s glossary of terms, it means investment funds that have been approved by the Capital Market Authority and are publicly or privately offered and displayed on the platform and managed by BLOMINVEST.

Difficulty in exiting:

In the event of a secondary market for trading units of funds listed on the platform, special circumstances may apply for exiting.

Anti-Cybercrime System:

It is the law for combating information crimes issued by Royal Decree No M / 17 dated 08/03/1428 H.

Anti-Money Laundering System:

It is the anti-money laundering law issued by Royal Decree No (M/20) dated 05/02/1439 H.

Services:

All related services provided by BLOMINVEST through its website under the name of “Wafer “the platform.

Investor:

The (natural) person who has entered into an investment agreement with BLOMINVEST and has been approved by the Company as an eligible investor to use its services and to subscribe to funds and trade their units if secondary market trading is available.

Website:

The website of BLOMINVEST serves as a platform for electronic investment services, accessible via www.blominvest.sa and any other domains connected to or branching from it.

 

 

 

Register of unit holders:

The unitholders register, prepared and maintained by BLOMINVEST, contains the names, nationalities, places of residence, number of units, and reference numbers of unitholders and any information required by laws and regulations applicable in the future. All transactions in the funds offered by the company are recorded in this register.

Fees and costs:

It is a certain estimated percentage, and/or a specific amount that includes the administrative fees and operational costs of the platform.

 

Article Two: Introduction to the platform:

1.      It is an electronic platform that provides individual clients with investment services related to the investment funds offered on the platform, including - but not limited to - opening investment accounts, subscribing to the real estate investment funds approved by the Capital Market Authority, and trading their units, buying and selling in the event of secondary market trading availability.

2.      The Wafer platform seeks to constantly develop its services, which may sometimes require temporary or permanent suspension of the service according to the circumstances at the time.

3.      The platform is valid for use within the Kingdom of Saudi Arabia only and is currently available for use and access to investment opportunities offered to individual Saudi citizens and residents of the Kingdom of Saudi Arabia until further notice.

 

Article Three: Registration:

1.          You must register as a user in some sections of the platform.

2.          The user enters into an agreement with the Wafer platform (“the contract”) once registered.

3.          Wafer platform verifies the user using the “Yaqeen” service provided by “Elm,” or any other services provided by reliable parties within the Kingdom.

4.          The user must possess full capacity, authority, and ability to enter into contracts.

5.          Minors, infirm individuals, or those incapacitated are not permitted to register on the platform.

6.          During the registration process, individuals must submit and enter all required data into the platform. The user alone bears full responsibility for any damages, consequences, or losses resulting from entering incorrect or misleading data during registration or at any stage of using the platform’s services.

7.          The User must provide any additional information requested from time to time to verify his identity or to confirm the reliability of any financing instrument he registered for use with the platform.

8.          The platform or any third party it contracts with may carry out all investigations it deems necessary to verify the validity and credibility of the information provided to the platform and the user’s understanding and agreement to that.

9.          The platform does not guarantee what happens during user identity verification procedures.

10.      The user must correct his data immediately without delay if it changes or entered incompletely or incorrectly.

11.      The user must ensure that the password is confidential and saved.

12.      The user must inform the platform immediately upon becoming aware and without delay of the unauthorized use of the password or user account.

13.      The account may not be used by anyone other than the user, whether that person is natural or legal.

14.      The User Agreement is binding on both parties by clicking on the confirmation link sent to the user’s email.

15.      The duration of the User Agreement is not limited to a specific time.

16.      The platform has the right to terminate the user agreement at any time without prior notice.

17.      All limitations of liability and remedies outlined in this Agreement shall apply even after termination of the User Agreement and termination shall not in any way affect the obligations and duties existing before the date of termination.

 

Article Four: Investment Agreement:

1.          The User must fill out the form data on the platform and click on the “Subscribe” button at the end of the form.

2.          The User acknowledges that he has accepted the investment in the Fund and in accordance with its terms and conditions.

3.          The User is bound by the Investment Agreement without any requirement to conclude another independent Investment Agreement.

4.          The platform is committed to providing all contracting parties with the necessary data to communicate with the other party.

5.          The platform is committed to providing all necessary documents within the investment agreement electronically through the platform.

6.          The user alone bears full responsibility for all documents sent or uploaded by him to the platform, whether in electronic or physical form.

 

Article Five: Limitation of Liability:

1.          The Platform, its responsible or affiliated entities, and its Platform Partners shall be liable in the event of gross negligence or failure to fulfill a duty necessary for the proper performance of the Agreement. However, the platform, its responsible entities, affiliates, and platform partners shall not bear any responsibility for breach or negligence in any of their obligations under this agreement if such breach or negligence is attributable to the user, other parties, or circumstances beyond their control.

2.          BLOMINVEST is the sole owner of the platform and manages the investment funds offered on it. The platform, along with BLOMINVEST, its partners, officers, agents, employees, and affiliated companies, shall not bear any direct or indirect responsibility for actions taken by other parties related to its funds or parties contracting with them for platform purposes. The responsibility of BLOMINVEST, through its role and ownership of the platform, is subject to the platform's purposes and the terms and conditions of this agreement, as well as any other related agreements concluded with the platform.

3.          If the investment agreement is invalidated for any reason, the user is entitled only to demand a refund of the net investment value.

                                                                                                                                                                                                                                                                                                                                                                         

Article Six: General Risks:

1.          The user must be aware that the investment may be long-term and should evaluate opportunities, total loss risks, insolvency risks, volatility risks, non-distribution of investment risks, difficulty of exit, risks associated with investment activities, obligations, or predictions about future performance.

2.          BLOMINVEST is committed to its role described in this agreement and does not provide consulting services, act as an investment manager, or provide guarantees.

3.          BLOMINVEST does not guarantee future expectations, events, market conditions, or economic cycles. The user undertakes all investment decisions independently and bears any current or future risks.

4.          The user must review all legal, economic, tax, and zakat consequences and duties related to the investment before investing and during the period of keeping the funds in their investment account on the platform.

 

 

 

 

Chapter One: Terms and Conditions

Article Seven: Commencement of the Agreement:

All terms and conditions apply once the user registers and chooses to use the investment account services provided by the platform.

 

Article Eight: Eligibility:

    It is not permissible to use the investment account services or accept this agreement in the following cases:

1.          If the user does not have the full legal capacity and authority necessary to fully view and understand the terms and conditions of this agreement and necessary for contracting.

2.          If the user is prohibited from using investment account services under the regulations of the Kingdom of Saudi Arabia.

3.          If the user is not a Saudi or a resident of the Kingdom of Saudi Arabia.

 

Article Nine: Texts and language of the agreement:

1.            The user must review the articles of the agreement and amendments thereto through the site from time to time, and he alone bears any results, damages, or consequences resulting from his breach of this obligation.

2.            The user must accept the terms of the agreement to use the investment account services by clicking on the “Register,” “Password Recovery,” or “Log In” button on the site.

3.            The agreement shall be in the Arabic language, and in the event of a difference between the Arabic language and any other language, the Arabic language texts shall prevail.

4.            The terms and conditions of this agreement apply to the use of the investment account services and its advantages in depositing funds, investment value, subscribing to fund units, and withdrawing and redeeming funds in the investment account.

 

Chapter Two: The Investment Account

Article Ten: Definition of the investment account:

It is an accounting record created by the financial institution for funds deposited in a client account opened by it to finance the client’s transactions in securities. It reflects all the details of the transactions that took place on that account.

 

Article Eleven: Investment Account Services:

The investment account provides the following services:

1.            Subscription and (refund, if any) in the funds offered on the platform.

2.            Withdraw the balance to the user’s bank account registered on the platform.

3.            Fund the account so that the user can subscribe to the funds.

4.            Sell or increase his investments only if the secondary market service is available on the platform.

 

Article Twelve: Developing the Investment Account Services:

The platform may introduce new services from time to time without prior notification to the user. If the platform updates the agreement, a copy of the amended version will be sent through the site. Before using the new services, the user is required to agree to the updated version, if necessary.

 

Article Thirteen: Limits of investment account liability:

1.          The Platform may impose restrictions on the use of investment account services or current transactions without prior notice. These restrictions may include but are not limited to, individual or aggregate transaction limits on the value or number of financial transactions during any given time and account replenishment limits.

2.          The platform may also restrict access to the investment account to certain amounts or for specific periods that the platform deems necessary to protect it or protect other users. This may occur in the following cases:

·       If the platform is exposed to financial risks.

·       If the User violates this Agreement.

·       If the user is suspected of violating this agreement or is suspicious of his legal and financial situation.

·       If a dispute arises related to the investment account or the transactions conducted in connection with it.

·       If this is necessary to protect the security of the platform’s systems.

3.          The platform may also restrict the user’s access to the investment account during any investigations or settlements of any existing disputes.

4.          The platform may seize the funds in the investment account pursuant to regulations, a judicial order, or a request from a government entity or executive authority.

5.          The platform may reject any withdrawal request from the investment account if the user violates the platform's terms and conditions. Additionally, it has the right to reserve the user’s funds in the investment account until the user fulfills their obligations. The platform also has the right to clear and settle the user’s obligations imposed under this agreement using the funds in the user’s investment account.

6.          The user has the right to use the amounts appearing in the available balance for subscriptions and to transfer funds from the investment account to the user’s personal account registered with the platform. The user authorizes the platform to carry out the transfer process based on instructions sent through the platform.

 

Chapter Three: Prohibited Payments

Article Fourteen: Cases of prohibition:

The platform reserves the right to impose acceptable terms of use regarding account operation and the provision of investment account services, including the prohibition of certain categories of financial transactions. The investment account may not be used in the following cases:

1.          For unlawful purposes, such as fraud, deception, or misrepresentation.

2.          In money laundering operations.

3.          In terrorist financing operations.

4.          Other illegal or irregular acts in the Kingdom of Saudi Arabia.

5.          If the user conducts or attempts any transaction that violates the provisions of this agreement or is illegal under the law, the platform will take legal measures against the user as stipulated in the cybercrime regulations, the anti-money laundering system, and other relevant regulations. Additionally, the platform reserves the right to seek compensation for any misuse of the account by the user.

 

Chapter Four: Depositing and Receiving Funds

Article Fifteen: Provisions for Deposit and Receipt:

1.          The platform assumes no responsibility of funds until they are received.

2.          Funds are credited on the business day they are received. If funds are received after the cut-off time, the funds are considered to have arrived on the next business day.

3.          The user must reconcile incoming and outgoing funds with his records regularly.

4.          Wafer platform reserves the right to cancel any financial transaction if the person, bank, or payment service provider who paid it, has canceled or is likely to cancel the payment from the investment account.

 

 

 

Chapter Five: Sending Financial Payments

Article Sixteen: Method of Financial Payments:

1.          Approval to carry out any financial transaction means authorization to conduct that transaction.

2.          The user agrees to authorize Wafer to conduct any transaction by following the instructions that appear on the screen when using the site or using one of the tools provided by the platform to the user.

3.          The user does not have the right to instruct the platform to send financial payments to others, and Wafer does not implement these instructions.

4.          The money is sent to the user’s bank account registered on the platform.

5.          Payment instructions must be sent through the platform’s website only, and the user bears all responsibility for the correctness, completeness, and accuracy of the instructions directed to the platform for the registered account.

6.          The platform may do its best to recover user payments sent incorrectly by the user, and the platform has the right to collect fees from the user in exchange for what the platform incurred as a result of recovering those amounts.

7.          The platform may make efforts to recover user payments sent incorrectly by the user, and it has the right to charge fees to the user for expenses incurred as a result of recovering those amounts.

8.          The user agrees that the platform includes the user’s full name, address, account number, and all other data necessary to enable the platform to achieve anti-money laundering procedures in the financial payment data that must be sent to the bank of the beneficiary party or the payment services provider in compliance with the anti-money laundering system.

9.          If the platform receives financial transaction instructions by the cutoff time on any business day, then those instructions will be considered received on the same business day. However, if the instructions are received after the cutoff time or on any day other than a business day, then they will be considered as received on the next business day.

10.      The user must inform the platform as soon as possible and without delay immediately upon becoming aware of any financial transaction that took place without the user’s permission or was carried out incorrectly or illegally. The platform does not bear any responsibility for such financial transactions in any case.

11.      The platform may reject any financial information for specific reasons and is obligated to explain the rejection and methods for correcting the error in the financial transaction data. The platform has the right to collect a cover fee for the expenses incurred during this process, and it is not obligated to process the payment if it is deemed illegal or irregular.

 

Chapter Six: Fees

Article Seventeen: Method of paying fees:

The user is responsible for paying all fees associated with using the platform's services. These fees can be paid directly to the platform or entities affiliated with the platform, or through the service provider's website. The company reserves the right to inform the user of the applicable fees periodically, and the platform has the sole discretion to determine these fees.

 

Article Eighteen: Amount of fees:

The platform reserves the right to modify its fees at any time. These fees are calculated based on the value of transactions, inclusive of all applicable fees such as tax fees and others. Additionally, all electronic funds, fees, and payments processed through the service are assessed in Saudi Riyal.

 

Article Nineteen: Correction of Errors:

The user acknowledges that the platform is authorized to open credit or debit entries in the investment account to correct that error in any transaction.

 

 

Chapter Seven: Duration and termination of the agreement

Article Twenty: Effective date and termination of the agreement:

1.      The provisions of this agreement shall begin from the date of the user’s registration, password reset, or user’s entry and use of the platform’s services, whichever is earlier.

2.      The platform reserves the right to terminate the agreement at any time and without prior notice.

 

Article Twenty-one: Cases of blocking access and suspending service for the investment account:

The platform may suspend the service or block access to the user’s account without prior notice in the following cases:

1.          If the user violates the provisions of this agreement.

2.          If the platform knows conclusively or is likely that the user will expose the platform’s services to illegal or irregular credit or fraudulent risks.

3.          If it becomes clear to the platform that the user provided misleading, false, incomplete, or incorrect data or that the user was involved in fraud or illegal behavior.

4.          If the platform has security concerns regarding the investment account including credentials.

5.          If the platform suspects unauthorized or fraudulent activity of the investment account or payment data in the investment account.

 

Article Twenty - Two: After termination of the agreement:

1.          Upon termination of the agreement, the platform will refund the full remaining amount of money in the user's investment account upon the user's request.

2.          The user has the option to request the platform to transfer the refunded amount to the user's registered bank account on the platform.

3.          While the platform is not obligated to return these amounts at a specific time, it endeavors to do so within a reasonable period upon receipt of the transfer request.

4.          The platform strives to return the refunded amounts to the user's investment account registered on the platform. However, the platform does not commit to a specific method chosen by the user for the refund.

5.          Termination of the agreement does not affect existing the rights and obligations of the platform and the user under the agreement before the termination date.

 

Chapter Eight: Privacy and Information Protection

Article Twenty -Three: Privacy:

The platform utilizes the user’s personal data in accordance with the descriptions provided in the Privacy Notice and as outlined in this Agreement.

Article Twenty -Four: Information Protection:

The user acknowledges that he agrees to the information collected by the platform, its usage, and the circumstances under which it is disclosed. Therefore, the user must review the privacy notice periodically.

 

Chapter Nine: Guarantees

Article Twenty -Five: User Obligations:

The User acknowledges and warrants to the following:

1.          That he is eligible to register for and utilize the investment account services, and that he has the right, authority, capacity and ability to conclude and implement this agreement and grant the rights, licenses and permissions that the platform provides to the user under this agreement.

2.          That the name specified during registration is his real name, and that he will not utilize the investment account on behalf of any legal entity or any natural person.

3.          He adheres to all laws and regulations in force in the Kingdom of Saudi Arabia.

4.          He will not use the investment account services in any fraudulent or illegal project or in any way that disrupts the use of the investment account services.

5.          He is not subject to or included on any list of prohibited or restricted parties, and is not owned or controlled by any such party, including but not limited to: lists established by the United Nations Security Council and the US Government (as a list Specially Designated Nationals, the U S Department of the Treasury's Foreign Sanctions Evaders List, the U S Department of Commerce's Entity List) and the European Union, member states, or other applicable governmental authorities.

6.          He alone bears any direct or indirect responsibility resulting from his violation of the terms and conditions of this agreement or the laws, regulations, and instructions in force in the Kingdom of Saudi Arabia.

7.          The platform does not provide any statement or guarantee regarding any of the following:

·       The user's use of the investment account services will meet the user's requirements or investment objectives.

·       The user's use of the investment account services will be uninterrupted, on time, or in a safe and error-free manner.

·       All information obtained by the platform as a result of using the investment account services will be accurate, reliable, and correct.

These conditions, warranties, or other provisions shall apply only as expressly stated in this Agreement.

 

Chapter Ten: Responsibility

Article Twenty - Six: Limits of Liability:

This Agreement shall not be construed to exclude or limit the Platform's liability for losses that may not be excluded or limited under applicable regulations.

 

Article Twenty -Seven: Disclaimer:

The platform and its partners, or the entities responsible for it, its partners, or its affiliated entities, do not bear - in any way - any direct or indirect responsibility or any claim arising from or in the following cases:

1.      Loss of profits.

2.      Loss of business.

3.      Loss of revenues.

4.      Loss of all or part of the investment amount.

5.      Data loss.

6.      Indirect losses or consequential losses.

7.      The fluctuation of economic conditions, and the resulting events and circumstances, whether influential or ineffective.

8.      The issuance of new instructions or regulations, or the imposition of obligations from time to time by the relevant authorities, may affect the platform's operational mechanism or the terms and conditions of this agreement by increasing or decreasing rights, duties, and obligations.

 

Chapter Eleven: Compensation and penal conditions

Article Twenty - Eight: Compensation:

The user undertakes to indemnify the platform and hold it harmless including all employees, managers, agents, and representatives working for the platform as well as its partners and affiliated entities, from all claims, costs, suits, cases, and requests that arise from any claim, suit, audit, investigation or investigation or legal action brought by any person or entity for a reason related to the following:

1.      Any actual or alleged breach of the User's representations, warranties, or obligations in this Agreement.

2.      Any actual or alleged infringement, false statement, or violation of the rights of others by the user or his trademarks used in connection with the service while using the investment account  services.

3.      The user’s use of investment account services.

4.      Any transaction submitted by the user through investment account services.

 

Chapter Twelve: Conflict of Interest Policy

Article Twenty-Nine: Objectives of the Policy of Interests:

This policy aims to:

1.      Protect the interests of the platform and the investors engaging with it by regulating potential and actual conflicts of interest between the platform and investors.

2.      Establish the platform’s concepts, values, and principles of integrity, teamwork, care, initiative, and achievement.

3.      Promote and protect these values, to avoid the personal, family, or professional interest of any person working on the platform affecting the performance of his duties toward the platform or those dealing with it.

4.      Avoid the influence of the personal, family, or professional interests of any person working on the platform on the performance of his duties towards Wafer platform or his clients.

 

Article Thirty: Limits of applying the conflict-of-interest policy

These policies do not supersede what is stated in the laws and regulations applied in the Kingdom of Saudi Arabia, which govern conflicts of interest. Instead, this policy is considered complementary to them.

 

Article Thirty -One: Obligations of the parties involved in the conflict-of-interest policy:

1.          Review this policy and adhere to its provisions, appendices, and any updates to it.

2.          To refrain from exploiting their position to pursue personal interests, and to fulfill the responsibilities and obligations towards the company independently and without any actual or potential conflict between the company’s interests and their personal interests. Furthermore, they are obligated to prioritize the company’s interests over any other interest in accordance with the provisions outlined in this policy.

3.          Avoid conflicts of interest as much as possible, and to immediately disclose conflicts of interest to the person responsible and adhere to the methods for dealing with them if they occur.

4.          Maintain the confidentiality of non-public or confidential information and do not disclose or exploit it to achieve personal interests.

5.          Refrain from exploiting - directly or indirectly - his relationship with the company or the investment opportunities presented to it to achieve any personal interests or gains.

 

Chapter Thirteen: Data Protection

Article Thirty-Two: Definition of data protection:

The platform gives the highest priority to data protection, which explains: the types of information the platform collects from users of the website (the Internet), the actions that the platform takes regarding this information, and how to access the information available through the platform’s website (the website), noting that the data protection policy may change from time to time without notice to the user, so the user must review the site from time to time.

 

 

 

Article Thirty -Three: Data Protection:

1.          The user fully consents to the platform when storing data in his personal file and authorizes the platform to use this data and make it available to the funds the user has pledged and agreed to invest in through the platform. Additionally, the user authorizes the platform to provide this data to the platform's payment service providers to pay the amounts due to users from their investments. This includes, for example, first name, last name, email address, phone number, permanent residence (including city, postal code, and country), personal identification number, gender, date of birth, nationality, investment amount, and bank account number (IBAN and banking information (BIC)).

2.          The Privacy Policy and Cookies Policy are an integral part of this Agreement.

 

Article Thirty -Four: Collecting and Processing of Personal Data:

The user may be asked for data required to provide services and information, which are as follows:

1.               Login, and provide the platform with information about the user or its affiliated company, such as name, job title, email address, and other information. In this case, it will not be possible to browse this site in an anonymous browser mode.

2.               Request an investment or use some of the services available through the website, and provide additional information such as the name, address, and details of the bank with which the user deals.

3.               Request information about the user when writing comments or participating in surveys (questionnaires).

The platform and service providers are committed to the confidentiality of the information, and it will not be available to third parties in any form or by persons who receive instructions from the platform, except with the express consent of the user, except for what is necessary to disclose to the competent authorities or under a system or instructions from the relevant authorities.

 

Article Thirty -Five: Cookies:

Wafer platform uses cookies for the following matters:

1.              For the site to be easier and better to use and to enable the arrangement and configuration of products and services according to the requirements of the platform’s interests and needs.

2.          To collect anonymous user statistics to allow the platform to understand how visitors use the site and to help the platform improve its structure and content, noting that the user cannot be personally identified through this information, and the user may not use the features of cookies.

 

Article Thirty -Six: Use and Sharing of Information:

When the user provides the platform with information, the platform uses this information to provide products and services and uses it to communicate with the user.

In case of browsing the platform’s website without logging in as a user, the platform collects the following information:

1.              Network servers (servers) belonging to the Wafer platform.

2.              The domain name that was used to access the Internet.

3.              The name of the user's Internet service provider.

4.              Previous and next location of the user.

Noting that this collected information is not to identify the individual, but rather is used for statistics and improving the attractiveness of the site, its content, and the functionality of the platform’s site The platform is committed to all laws and regulations related to data protection.

 

 

 

 

Article Thirty -Seven: Data Retention:

The platform retains personal data for no less than 10 years unless the Capital Market Authority determines otherwise and as long as it is necessary to implement the service that the user has requested or that the user has authorized.

 

Article Thirty -Eight: Security:

The platform implements comprehensive technical and organizational security measures to safeguard available information from tampering, loss, damage, or unauthorized access. These security measures undergo regular review and updates to remain aligned with the latest technological advancements.

 

Article Thirty -Nine: Obtaining and Correcting Information:

The User has the right to obtain information about all stored personal data, receive, review and, if necessary, request its modification or removal.

 

Chapter Fourteen: Wafer platform

Article Forty: Mechanism of Action:

1.               The user must register his data on the site to benefit from the platform’s services.

2.               The user must adhere to the platform-specific terms that are updated from time to time for the purposes of developing the website.

3.               The user adheres to the specified periods for transfers, which he understands to occur continuously.

4.               The user agrees to reserve the amount according to the specific conditions for entering the subscription request.

5.               All operations shall apply in accordance with this User Agreement, and all terms and conditions contained in the platform are complementary to it and do not contradict it.

6.               The user must follow the control panel and the e-mail sent from the platform for all notifications of the transaction statuses he entered.

 

Article Forty-One: Disclaimer:

In accordance with what is stated in the User Agreement, the user understands that the Platform may do the following:

1.                 The platform, its responsible and affiliated entities, and its partners in the platform do not bear any responsibility for any losses or damages resulting from any use resulting from misuse of the platform.

2.                 The user bears all responsibility regarding saving his data, such as the password and the data that is mostly saved.

3.                 The user must read the User Agreement carefully and follow its updates when any change arises.

4.                 The platform, its responsible and affiliated entities, and its partners in the platform do not assume any responsibility for the accuracy or validity of information, data, numbers, and certifications. The user alone bears full responsibility for such information and any legal consequences or effects resulting from it. The user and the aforementioned parties are obligated to compensate the platform for any losses, damages, expenses, costs, liabilities, claims, or issues arising from such information. The user disclaims responsibility for any damages or losses arising directly or indirectly as a result of carrying out the processes.

Article Forty-Two: Costs and Fees:

The platform has the right to impose other fees whenever it deems appropriate to add them, including, but not limited to value-added tax and other government fees, if any.

 

Article Forty-Three: Data Preservation:

In addition to what is stated in this User Agreement, the platform affirms its commitment and diligence in undertaking due diligence measures in accordance with applicable regulations.

Article Four Forty: Acceptance of the Application:

The platform reserves the right, without assuming any responsibility, to reject an application for any reason it deems appropriate. Similarly, the platform reserves the right, without assuming any responsibility, to temporarily suspend the execution of a request for any reason it deems appropriate, including instances of technical failure or during the development, modification, or maintenance of any of its technical systems. Consequently, the platform disclaims responsibility for any delays or disruptions in the execution of the request if such disruptions or delays are beyond the platform’s control.