Introduction  

‍Welcome to CashEx Inc. (the “Company” or “CashEx”). We understand that saving funds can be very challenging. We are therefore pleased that you have entrusted us to provide you with a one stop shop solution that takes into account the economic realities of currency devaluation and its associated risks. These terms (the “Terms”) apply to your use of our web services and mobile services, “CashEx” and any related applications or platforms, and all other online products and services (collectively, the “Service”) of CashEx (“we,” “us” or “our”).

2. Accepting these Terms

‍Using or accessing the Service means you agree to be bound by all the terms below. Kindly read all the terms and agree to them before you use the Service. If you do not understand a term, please let us know. You should not use the Service if you don’t agree to all the terms below. This agreement is entered into between you and us. If you have been provided access to the Service through your relationship with a third-party company (including such third-party application programming interface (API) plug-in), you acknowledge that such company is not a party to this agreement.

‍3. Changes to these Terms

‍It is essential to review the terms regularly to be acquainted with our practices. We may modify or amend these Terms from time to time. For instance, we may change the Terms when introducing a new feature or service. If there are changes to the terms, you will be notified by a revision of the date at the top of the policy, and, in some cases, additional notice will be provided (such as sending you an email or push notification). Any changes we make to these Terms will take effect on the date it is posted. If you use the Service after posting the changed Terms, you have accepted the changes to these Terms.

‍4. Privacy Policy

‍For information about how we collect, use and share information about you via the Service, please see our Privacy Policy.

‍5. Description of the Service and Product Offering

‍Below are the range of CashEx’s core product offering:   [CashEx Dollar Savings] A savings product that allows our customers to peg local currency (“Supported Currency”) savings to the United States Dollars (USD) (“Reference Currency”) at an exchange rate (the “Floating Rate”) to be displayed at the point of savings, deposit, transfer, withdrawal (the “Transaction”). When you use this service, you agree that we do not provide any form of foreign currency related services in Nigeria, as a result, your deposits and withdrawals including wallet balances and stored value shall be in the Supported Currency only. You acknowledge that the Reference Currency is for hedging and reference purposes only. Therefore, through-out your use of the service, you agree that the Floating Rate shall remain applicable at the date of the Transaction. You also agree that the Floating Rate is a formation of the movement, fluctuation or otherwise devaluation of the Supported Currency against the Reference Currency. Therefore, you acknowledge that we shall not be liable for any difference in value occasioned by the Floating Rate.

‍6. Collaboration and Strategic Partnerships

‍In offering the Service, we collaborate with various banks and financial institutions including international money transfer operators, money transmitters, payment solution service providers, currency traders, technology service providers and other reliable third parties all over the world (together the “Technical and Financial Partners”). For this reason, by agreeing to the Terms you agree that we are authorized to provide the Service to you through or in partnership with any of our Technical and Financial Partners and the fact that the Service is provided by or through any of our Technical and Financial Partners will not affect the value of the Service or your obligations thereof. You also agree that none of our Technical and Financial Partners shall be liable to you and do not have a direct contractual relationship with you.

‍7. Right to Use the Service

‍Provided that you fully comply with these Terms, we grant you a limited, nonexclusive, non-transferable, and revocable license to access and use the Service. Except as expressly authorized by these Terms, you may not: (a) modify, disclose, alter, translate or create derivative works of the Service; (b) license, sublicense, resell, distribute, lease, rent, lend, transfer, assign or otherwise dispose of the Service; (c) disassemble, decompile or reverse engineer any of the software components of the Service; (d) copy, frame or mirror any part of the Service; (e) interfere with or disrupt the integrity or performance of the Service; or (f) attempt to gain unauthorized access to the Service or its related systems or networks.

‍8. Creating an Account with CashEx

‍Immediately you create a user account (the “Account”); you are responsible for maintaining the security of your password and other login + account operating credentials (the “User Credentials”). You agree to accept all risks that may arise if someone accesses your account without your permission. As a user, you are also aware that compromised User Credentials can lead to your sensitive and personal information being leaked. If you find out or suspect any Service security breaches, do not hesitate to inform us. You affirm that all information you have provided in connection with your account is accurate, truthful, current, and complete. CashEx reserves the right to deny, deactivate, or terminate any account at our discretion.

‍9. Integrating a Bank Account(s)

‍Suppose you use any of our Services that allows you to interact with a third-party bank account or card account via our Services (“Bank Account”), you authorize us and any of our designated Technical and Financial Partners to access your Bank Account through the Services on your behalf and to process Bank Account information through the Services. You represent and warrant that you have the right to access and use any Bank Account you have provided and to grant the prior authorization. CashEx uses reliable third-party service providers to connect to financial institutions. Suppose you connect using any of such service providers, you also agree and acknowledge that the personal and financial information you provide through your financial institution will be treated in accordance with their privacy policies.

‍10.Wallet and Account Funding

‍You may fund your Account using any of our Products. In doing so, you confirm that the source of funding is legitimate and does not flow from the proceeds of crime or any other criminal conduct. You agree that your account shall not be funded through third party bank accounts, wallets or payment instruments. You will be responsible for any charges or penalties from 3rd parties or your bank that occurs as a result of any of transactions that occur on your Account or wallet. You will also be responsible for managing your funding sources, in terms or additions, removals and updates.

‍11.Bank Account Verification and Customer Due Diligence

‍We may conduct identity verification services including know your customer (KYC) checks using the information you provide. By accepting these Terms, you consent to us verifying your identity using reliable and independent identity service providers. You also authorise us to conduct bank account verification. The bank account verification process helps ensure your Bank Account is compatible with the Service. To successfully verify your Bank Account, we access your Bank Account through our Technical and Financial Partners and may for this reason make regulatory compliance filings including suspicious activity reporting in compliance with the anti-money laundering and anti-terrorism financing regime in Nigeria and any other applicable jurisdiction.

‍12.License

‍Subject to the terms, conditions, and limitations outlined in the Terms, we grant you a nonexclusive, non-transferable, and revocable license to use our Service on any mobile or computer device that you own or control. The terms of the license will also govern any upgrades provided by us that replace and/or supplement the original Service unless such upgrade is accompanied by a separate license, in which case the terms of that license will govern. You agree that by signing up to this Service, you agree to become a member of the CashEx cooperative and therefore your deposits and savings shall be managed by CashEx on this basis.

‍13.Restrictions

‍You agree not to do, authorize, or permit any third party to do any of the following: (i) distribute or make the Service available over a network where multiple devices could use it at the same time; (ii) rent, lease, lend, sell, redistribute or sublicense the Service (iii) copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, modify or create derivative works of the Service or any updates or any part thereof (except as and only to the extent any of these restrictions are prohibited by applicable law); or (iv) remove, alter or obscure any copyright, trademark or other proprietary rights notice on or in CashEx. Suppose you violate any of the restrictions outlined in the Terms, your use of the Service will be terminated immediately, and you will have infringed the copyright and other rights of CashEx which may subject you to prosecution and contractual damages. CashEx reserves all rights not expressly granted to you in the Terms.

‍14.Fees For Using the Service

‍While using the Service is free, certain transactions and access to certain features come at a fee which we have set out in a schedule (“Fees Schedule”).  The Fee Schedule provides details on the fee amounts, and the method and source of payment for such fees. We reserve the sole discretion to revise the fee schedule from time to time. When you initiate and confirm a transaction, you agree to be bound by and pay for that transaction. Do not commit to a transaction unless you are ready to pay and have checked that all provided information is accurate as all confirmed and completed transactions are final. Our Service designed to make payments convenient, so we allow you to make payments using a number of different funding sources e.g. your linked bank accounts or cards. When you provide us with a funding source, you also authorize:The collection and storing of source information along with other related transaction information; The crediting and debiting of your chosen source when you perform transactions; When you make a payment, you authorize us (and our designated payment processor) to charge the full amount and any charges related to that transaction to the funding source you designate for the transaction. If your payment results in an overdraft or other fee from a related party, liability for such fees or penalties will rest solely with you.To prevent financial loss or possible violations of the law, we reserve the right to use our discretion in disclosing details of any payments associated with you with funding source issuers, law enforcement agencies, or impacted third parties (including other users). Such disclosures may originate from an order of any trial court with the jurisdiction to compel such a disclosure.

‍15.Registering and Account Information

‍For our compliance purposes and to provide the Services to you, you hereby authorize us (or our Technical and Financial Partners) to obtain, verify, and record information and documentation that helps us verify your identity and Bank Account details. When you create your account, and from time to time thereafter, we may require you to, and you hereby agree to provide and/or confirm information and documentation that will allow us to identify you, such as:A copy of your government-issued identity card, such as a passport or driver’s license; a copy of a utility bill, bank statement, affidavit, or other bill, dated within three months of our request, with your name and verifiable address on it; and and such additional information and documentation that we may require from time to time.You must provide us with accurate, complete, and up-to-date information for your Account and your Bank Account, and you agree to update such information as needed to keep it accurate, complete, and up-to-date. We might have to suspend or terminate your Account if you don’t. You agree that you won’t disclose your User Credential to anyone and you’ll notify us immediately of any unauthorized use of your Account. You also agree not to transfer your Account to any third party. You’re responsible for all activities under your Account, whether you know about them or not.

‍16.Compliance

In addition to any of your other representations and warranties in these Terms, you represent that: (i) your browser is equipped with at least 128-bit security encryption; (ii) you are capable of printing, storing, or otherwise saving a copy of this electronic authorization for your records; (iii) the services you request comply with applicable law; and (iv) your email address on record with us is yours and that email address is accurate and up-to-date.

‍17.Informational Purposes Only

‍All tools and content provided by us via the Services are for informational purposes only. CashEx does not provide professional or legally binding tax, financial or other services. The information and tools provided are not professional advice and thus do not give rise to liability for your reliance on any information obtained through your use of the Services (whether provided by us or any of our Technical and Financial Partners).

‍18.Our Rights

‍All information, materials, and content of the Service, including text, graphics, data, formatting, graphs, designs, HTML, look and feel, photographs, music, sounds, images, software, videos, designs, typefaces, source and object code, format, queries, algorithms, and other content is owned by CashEx and can only be used with permission. You own all of your Content. However, when you post links or otherwise make available information or other content in relation to the Service (“Content”), you grant us a nonexclusive, royalty-free, perpetual, and revocable right to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform, and display such Content throughout the world in any manner or media, on or off the Service. CashEx reserves all rights not expressly outlined in these Terms.

‍19.Third Party Materials

‍We may provide you with third-party content or services through our Services as a convenience to our users (for example, links to third-party websites) (“Third Party Materials“). Our users may also include Third Party Materials in the Content they post to the Service. We do not control or endorse any Third Party Materials, nor are we responsible for reviewing the accuracy of any Third Party Materials. Your business dealings or correspondence with third parties, and any terms, conditions, warranties, or representations applicable to any Third Party Materials, are solely between you and the relevant third party. When you leave our Services, you should know that these Terms and all other CashEx policies no longer govern your use of other websites and services.

‍20.Personal Data from Third Parties

‍We may receive personal data from you such as in-app chat support, email, telephone, or from companies that distribute the Services by way of a co-branded or private-labeled website, companies that offer their products and/or services via the Services, or companies that provide services (such as payment processing services) in connection with the Services (collectively, “Channel Partners”). Our Channel Partner may supply us with Personal Data, such as your name and e-mail and mailing address information. We may add this information to what we have already collected via our Services to perform and improve the Services. Our Privacy Policy applies only to the use and disclosure of Personal Data that we collect while you use the Services. Our provision of a link to any other website or location is for your convenience and does not signify our endorsement of such other website or location or its contents. When you click such a link, you will leave our site and go to another site. During this process, a third party may collect personal data or anonymous data from you. Your connection to and use of such third party website and/or services are subject to such third party’s terms and conditions and privacy policy.

‍21.Location Information

‍We collect location information, which will be used and disclosed as outlined in the Privacy Policy. You acknowledge and agree that by accepting the Terms, you consent to our collection, use, disclosure, and storage of your location information.You may revoke your consent concerning our collection, use, disclosure, and storage of your location information at any time by contacting hello@cashex.ai and deleting your Account with us. Please note that if you revoke your consent by doing one of the preceding or delete or deactivate your account, we may retain certain information as required by law or for legitimate business purposes. We may also retain cached or archived copies of information about you for a certain period.If you consent to our collection of location information and you do not subsequently rescind this consent, we will continue to collect this location information. Where consent to collecting location information has been rescinded and later restored, we will resume the collection of location information.

‍22.Contact Us

‍If you have any questions, comments, or concerns regarding these Terms, please contact us at hello@cashex.ai

‍23.Feedback

24.Any suggestions, comments, or other feedback you give us about the Service will be our confidential information. We are free to use, disclose, reproduce, license, distribute and exploit this feedback as we see fit, without compensation to you or any obligation or restriction because of any intellectual property rights or otherwise.

‍25.Relationship with Us

‍Your use of the Services does not create any other type of relationship between you and us, including but not limited to any agency, partnership, joint venture, employment relationship, or any obligations by CashEx to you except as otherwise expressly stated in these Terms or additional written agreement signed by an authorized agent of CashEx.

‍26.DISCLAIMERS

THE SERVICE AND ANY OTHER SERVICE AND CONTENT INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE SERVICE (INCLUDING THIRD-PARTY MATERIALS) ARE PROVIDED TO YOU ON AN AS-IS OR AS-AVAILABLE BASIS WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND. WE DISCLAIM ANY AND ALL OTHER WARRANTIES AND REPRESENTATIONS (EXPRESS OR IMPLIED, ORAL, OR WRITTEN) WITH RESPECT TO THE SERVICE AND CONTENT INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE SERVICE (INCLUDING THIRD-PARTY MATERIALS) WHETHER ALLEGED TO ARISE BY OPERATION OF LAW, BECAUSE OF CUSTOM OR USAGE IN THE TRADE, BY COURSE OF DEALING OR OTHERWISE.

‍27.LIMITATION OF LIABILITY

‍TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: (A) IN NO EVENT WILL CASHEX BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR TO THE SERVICES OR ANY OTHER SERVICE AND CONTENT INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE SERVICES (INCLUDING THIRD PARTY MATERIALS), REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, BY STATUTE OR OTHERWISE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF THESE DAMAGES OR ARE AWARE OF THE POSSIBILITY OF THESE DAMAGES; AND (B) THE AGGREGATE LIABILITY OF [Insert third party affiliate], WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING AS A RESULT OF CASHEX’S ALLEGED NEGLIGENCE), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER LEGAL PRINCIPLE , ARISING OUT OF OR RELATING TO THESE TERMS OR THE USE OF OR INABILITY TO USE THE SERVICES EXCEED ANY AMOUNTS PAID BY YOU TO US FOR THE SERVICES.

‍28.Indemnification

‍You will defend, indemnify, and hold us harmless from and against any actual or threatened suits, actions, proceedings (at law or in equity), claims, damages, payments, deficiencies, fines, judgments, settlements, liabilities, losses, costs, and expenses (including reasonable attorneys’ fees, costs, penalties, interest, and disbursements) arising from or related to any conduct with respect to the Service or violation (or alleged violation) of these Terms or the rights of any third party by you or any person using your Account. You shall indemnify and hold CashEx harmless from and against any damage, loss, liability or expense that we may incur with respect to:Negligent acts or omissions by, or wilful misconducts of, you or your employees, agents or personnel; Violations of any applicable law, statute or regulation by you or your employees, agents or personnel; and Warranties, conditions, representations, indemnities or guarantees granted by you with respect to its obligations in addition to or in lieu of the warranties.

‍29.Changes to the Service

‍Cashex reserves the right in our discretion to review, improve, change, or discontinue, temporarily or permanently, the Service and/or any features, information, materials, or content on the Service with or without providing notice to you. CashEx will not be liable to you or any third party for any changes or discontinuance of the Service or any part.

‍30.Consent to Electronic Communications

‍By using the Service, you agree that we may communicate with you electronically regarding your use of the Service and that any notices, agreements, disclosures, or other communications we send to you electronically will satisfy any legal communication requirements, including that the communications be in writing. To withdraw your consent from receiving electronic notice, please notify us at hello@cashex.ai

‍31.Suspension and Termination

‍CashEx may suspend or terminate your rights to access or use the Service for any reason or for no reason at all and with or without notice at CashEx’s discretion. All of these Terms (excluding our license grants to you) will survive any termination or suspension. You may cancel your account anytime by contacting us at hello@cashex.ai.

‍32.Governing Law; Arbitration

‍PLEASE READ THE FOLLOWING PARAGRAPHS CAREFULLY BECAUSE THEY REQUIRE YOU TO ARBITRATE DISPUTES WITH CASHEX AND LIMIT HOW YOU CAN SEEK RELIEF FROM US. In the event of any controversy or claim arising out of or relating to these Terms or the Service, you and CashEx agree to consult and negotiate with each other and, recognizing your mutual interests, try to reach a solution satisfactory to both parties. If we do not settle within 60 days, then either of us may, by notice to the other, demand mediation under the mediation rules of Lagos State Multi-door Courthouse.  You give up your right to litigate any disputes and may not proceed to arbitration without first trying mediation, but you and CashEx are NOT required to arbitrate any dispute in which either party seeks equitable and other relief from the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. Except as otherwise required under applicable law, you and CashEx intend and agree: not to assert class action or representative action procedures and agree that they will not apply in any arbitration involving the other; not to assert class action or representative action claims against the other in arbitration or otherwise; and will only submit individual claims in arbitration and will not seek to represent the interests of any other person or entity.Suppose a settlement is not reached within 60 days after service of a written demand for mediation, any unresolved controversy or claim will be resolved by arbitration in accordance with the rules of the Arbitration and Conciliation Act. The language of all proceedings and filings will be English. The arbitrator will render a written opinion, including findings of fact and law, and the arbitrator’s award and/or determination will be binding on the parties and their respective administrators and assigns and will not be subject to appeal.Judgment may be entered upon the award of the arbitrator in any court of competent jurisdiction. The expenses of the arbitration will be shared equally by the parties unless the arbitration determines that the costs will be otherwise assessed, and the arbitrator may award the prevailing party its attorneys’ fees and expenses. The parties intend that, barring extraordinary circumstances, arbitration proceedings will be concluded within 90 days from the date the arbitrator is appointed. The arbitrator may extend this time limit only if failure to do so would unduly prejudice the parties’ rights. Failure to adhere to this time limit will not constitute a basis for challenging the award. Consistent with the expedited nature of arbitration, pre-hearing information exchange will be limited to the reasonable production of relevant, non-privileged documents carried out expeditiously.35.General Enforcement of these Terms is solely at CashEx’s discretion. In some instances, failure to enforce any part of these Terms does not constitute a waiver of our right to enforce the same or other part of these Terms in other instances. If any provision of these Terms is or becomes unlawful, void, or otherwise unenforceable (including the warranty disclaimers and liability limitations above), then that provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision, and the remaining provisions of these Terms will continue in full force and effect. As used in these Terms, “including” means “including (without limitation).” The section headings of these Terms are for reference purposes only and will not affect the meaning or interpretation.

‍33.NDPR Compliance

‍CashEx is committed to comply with the NDPR and any other applicable data protection law. Read more about our privacy policy here: https://www.cashex.app/privacy-policy

‍34.Name and Address

‍Any end-user questions, complaints, or claims with respect to CashEx should be directed to:11 Temple St, Boston, MA 02114hello@cashex.ai