Terms of Service

This Agreement (“Agreement”) is a contract between you and Relworx Uganda Limited and governs your use of Vaulit products and services, including any other Vaulit features, technologies, and functionalities offered through our website, the Vaulit app, or any other channel (collectively, the “Vaulit Services”), whether you are a visitor, registered user, or account holder.

The Vaulit Services are provided to you subject to this Agreement and our Privacy Policy (“Privacy Policy”), which is incorporated into this Agreement by reference. By using the Vaulit Services, you accept and agree to be bound by these Terms. If you do not agree to any part of these Terms, please do not use the Vaulit Services.

Relworx is a company registered and incorporated in Uganda with company number 12159644.

Third Party Providers

By using the Vaulit Services, you explicitly consent to the use of your personal information as required to provide the Services in accordance with regulatory requirements, including sharing such information with our bank partners, aggregators, product and service partners, and, where required, regulatory bodies.

Under these Terms of Use, you authorize and direct Relworx to create and administer relevant third party accounts on your behalf, to consent to and agree to any necessary terms and policies on your behalf where applicable, and to carry out the transactional and investment instructions you provide to us from time to time in relation to those third party accounts, including transfers, purchases, and sales. You agree that Relworx may access and retrieve information from these third party accounts in order to display that information to you and facilitate your use of those accounts through the Vaulit Services. You also acknowledge that Relworx will close all such third party accounts if and when you terminate your Vaulit Account, and you hereby authorize Relworx to do so.

To the extent permitted under applicable law, you understand and agree that Relworx, in acting on your behalf with our third party business partners, will not be liable to you for any losses, expenses, damages, liabilities, charges, or claims of any kind, including legal costs and expenses of investigating or defending claims, demands, or charges (collectively, “Losses”) incurred by you in relation to any third party accounts, except to the extent that such Losses are actual losses proven with reasonable certainty and are the direct result of an act or omission by Relworx during the term of this Agreement that constitutes willful misfeasance, bad faith, or gross negligence under this Agreement. Without limitation, Relworx shall not be liable for Losses resulting from or arising out of:
(i) any action taken by you
(ii) force majeure or other events beyond the control of Relworx, including any failure, default, or delay in performance resulting from failure of computer, electronic, or mechanical equipment, unauthorized access, strikes, pandemics, utility or carrier failures, severe weather, communication breakdowns not reasonably within the control of Relworx, or other causes commonly known as acts of God
(iii) general market conditions unrelated to any violation of this Agreement by Relworx.

You may obtain a copy of this Agreement applicable to you at any time and at no cost by accessing the Website or App and downloading the available version. Alternatively, you may contact us at support@vaulit.com and we will provide a copy by email.

1. Definitions

1.1 The following definitions apply

“App” means the mobile application operated by Relworx that facilitates Payment Transactions to Vaulit customers through aggregated mobile money accounts operated in Uganda, including MTN Mobile Money and Airtel Mobile Money.

“Account” means any account opened for you with us that enables you to access the App, including a payment account, electronic money account, or any other applicable account record.

“Accepted Payment Method” means payment by Card, bank transfer, Mobile Money Account, or any other payment method accepted by Vaulit in exchange for issuing E-Money to your E-Wallet.

“Applicable Law” means any and all applicable laws, legislation, bye-laws, decisions, notices, statutes, orders, rules, regulations, directives, edicts, schemes, warrants, local government rules, statutory instruments, subordinate legislation, codes of practice, voluntary codes, other instruments made under any statute, codes of conduct, and mandatory guidelines, including those relating to audit, accounting, or financial reporting, that have legal effect whether local, national, international, or otherwise, as amended from time to time.

“Authentication” means the performance of operations that enable us to verify your identity.

“Authentication Instrument” means any item, feature, information, or instrument that enables you to authenticate yourself to us and or authorize certain operations, including personalized security details for the App, a password, one-time authentication code, PIN, mobile phone, mobile phone number, fingerprint, Face ID, or personalized security questions.

“Authorize” or “Authorization” means the performance of operations by which you confirm your consent to the performance of certain operations, for example making a payment.

“Authorized Merchant” means a merchant expressly authorized by Relworx to receive payments in relation to its merchant activities through the App.

“Authorized Merchant Payment” means a Payment Transaction between you and an Authorized Merchant made through the App.

“Business Day” means a day other than Saturday, Sunday, or a public holiday in Uganda on which financial institutions in Uganda are open for business.

“Card” means a bank, payment, or credit card denominated in a fiat currency.

“Covered Third Parties” means any third party operating system providers such as Apple Inc., Google LLC, and Microsoft Corporation, including their related entities, your mobile phone or device manufacturer, your mobile network operator or other network provider, and any other product or service provider related to your mobile device service.

“E-Money” or “Electronic Money” means monetary value stored electronically for you that represents a claim on Relworx. E-Money is issued by Relworx on receipt of cleared funds in a corresponding amount for the purposes of making Payment Transactions through the App.

“E-Wallet” means a non-interest-bearing electronic account maintained solely for enabling you to make and receive transfers of Electronic Money issued by us and denominated in shillings.

“Fee Schedule” means the document setting out all fees payable by a user for the use and management of an E-Wallet, as made available in the App.

“Fees” means the fees payable by you to us for using our Services as set out in the Fee Schedule.

“Nominated Account” has the meaning given in clause 3.8 below.

“Individual” means a natural person.

“Legal Entity” means any entity with legal personality that is not an Individual.

“Mobile Money Account” means an account used to store and transfer funds held with a mobile network operator.

“Payment Order” means any instruction by you requesting us to execute a Payment Transaction.

“Payment Transaction” means any act initiated by the payer or payee of placing, transferring, or withdrawing funds, regardless of any underlying obligations between the payer and the payee.

“Services” means the services set out in clause 2.1 below.

“Website” means https://www.relworx.com/ as updated from time to time.

“we”, “us”, or “our” means Vaulit and or Relworx, as the context requires.

2. The E-Money Services

The services we provide under this Agreement include:

2.1

2.1.1 opening and managing an E-Wallet
2.1.2 issuing E-Money to your E-Wallet upon receipt of cleared funds paid to us through an Accepted Payment Method
2.1.3 debiting E-Money from your E-Wallet following the execution of a Payment Transaction or payment of any Fees under this Agreement
2.1.4 crediting E-Money to your E-Wallet following the execution of a Payment Transaction, including where you are the recipient of the payment
2.1.5 redeeming E-Money at your request by paying the relevant amount to your Nominated Account.

2.2

Your E-Wallet shall not be subject to any overdraft, advance, or credit.

3. Opening an Account

3.1

3.1.1 Personal Account. A Personal Account is for person to person transfers with friends, family, and other people you know. Personal Accounts may also be used to make Authorized Merchant Payments where such payments are available. Some features of Personal Accounts may be limited depending on how you use the Services, how much you send or spend, and what we know about you. We may also require additional information in order to complete a Payment Transaction. Personal Accounts may not be used to receive business, commercial, or merchant transactions.

3.2

In accordance with Applicable Law, we are required to carry out due diligence measures aimed at preventing money laundering and terrorist financing before you can open an Account. These measures include identifying and verifying your identity and collecting information about you, your use of the Services, and any suspicions of money laundering or terrorist financing that may arise in relation to you or your use of the Services.

3.3

You must provide all information and documents we require in order to carry out the due diligence measures referred to in clause 3.2 and to perform any other obligations under Applicable Law and or this Agreement.

At a minimum, you must provide the following as part of your application:

3.3.1 your full name, address, date of birth, and nationality
3.3.2 your email address
3.3.3 your mobile phone number and, in certain circumstances, your mobile device identification number
3.3.4 proof of identity in the form of either a valid passport or a valid Uganda national identification card.

3.4

We may, in our sole discretion:

3.4.1 require you to answer one or more security questions that will be used as part of any Authorization under this Agreement
3.4.2 require any additional information or documents we consider necessary and appropriate based on our assessment of the risks relevant to you, both during review of your application and throughout the term of this Agreement.

3.5

You undertake that all information and documents you provide are true, accurate, and up to date. If at any time during the term of this Agreement any such information or documents change, or if you become aware that any information or documents previously provided were false, inaccurate, or incorrect in any way, you must promptly provide us with updated information and documents. You may do so by emailing support@vaulit.com, and we may at any time ask you to confirm the accuracy of your information and or provide additional supporting documents.

3.6

We may also contact third parties to collect and or verify the information and documents you provide under this Agreement. We may limit your E-Wallet and your access to funds held in it until such collection or verification is completed.

3.7

If your application to open an Account is successful, we will open an E-Wallet in your name and send you confirmation through the App.

3.8

To use your E-Wallet, you must also provide us with details of a payment account opened in your name with a bank or payment account provider established in Uganda or in a third country that imposes equivalent anti-money laundering and terrorist financing laws (a “Nominated Account”). This is in addition to any other information requested by us.

3.9

If, after acceptance, you wish to change your Nominated Account, you must notify us by submitting the new details through the App or by email at support@relworx.com. We will review the new details and confirm whether the change is accepted. The change will take effect only after our express confirmation.

3.10

Once we have activated the full functionality of your Account, you may log in and access your E-Wallet through the App.

4. Keeping Your Account Safe

4.1

You must take all reasonable precautions to keep your E-Wallet, any related security information, and your Account safe and to prevent fraudulent use. You must use reasonable efforts to prevent any unauthorized access to or use of your E-Wallet and must notify us immediately by email at support@vaulit.com of any unauthorized access or use, or any suspicion of such access or use.

4.2

Your login credentials must not be disclosed to anyone or kept in written form, in order to prevent fraud and misuse of your E-Wallet. We also recommend that you do not use obvious passwords such as your name or the word “password”.

4.3

You should also:

4.3.1 ensure that no one sees or hears your login details when you use them
4.3.2 not disclose your full login details or password to anyone, including the police or us
4.3.3 never write down your password or keep a record of it
4.3.4 comply with all reasonable instructions we issue regarding the security of your login details and password
4.3.5 change your login details and or password immediately and inform us as soon as possible if you know or suspect that someone else knows any of those details, or if we ask you to do so
4.3.6 keep any computer or device you use to access the App secure and use up to date virus checking and personal firewall software
4.3.7 never access the App from a shared device, public internet access device, public access point, or any device connected to a local area network
4.3.8 always log out of the App and never leave your device unattended while logged in
4.3.9 never share any Account or payment details on social media or any website.

4.4

If your Account login details are lost or stolen, or if you suspect that someone else knows your login details, or your verified mobile phone or email has been compromised, you must contact us without undue delay at support@vaulit.com.

5. Funding Your E-Wallet

5.1

Once your Account has been opened, E-Money may be issued to you and credited to your E-Wallet in exchange for a payment made through an Accepted Payment Method.

5.2

If you wish to purchase E-Money, you must log in to the App and enter the details of the Accepted Payment Method you wish to use through a payment page dedicated for that purpose.

5.3

Transfers of funds used to purchase E-Money by Card are executed by the institution that issued the Card. Any dispute concerning such a transfer must be notified to the Card issuer. We are not authorized to cancel such a purchase once you have made a payment request, although you may redeem any E-Money purchased, subject to applicable Fees set out in the Fee Schedule.

5.4

Our acceptance of an order for payment through an Accepted Payment Method does not guarantee that you will receive the corresponding E-Money in your E-Wallet. The issuance of E-Money is conditional upon our actual receipt of the cleared funds, less any applicable Fees.

5.5

We will issue E-Money to your E-Wallet once we have received cleared funds. For some deposit methods, such as Card, we may credit your E-Wallet as soon as possible subject to our right of reversal. If the amount you intended to upload does not reach us within a reasonable time, we may deduct that amount from your E-Wallet. If you do not have sufficient funds in your E-Wallet for this purpose, we may demand repayment through other means.

5.6

You accept and agree that any currency other than shillings loaded or reloaded into your E-Wallet will be converted into shillings at the exchange rate applied by our internal payment providers or bank, plus any applicable fees. You accept that such conversion is entirely at your own cost and risk. For every currency conversion, we will apply our current exchange rate as updated from time to time. The applicable exchange rate will be presented to you before confirmation of the relevant Payment Transaction.

5.7

Any E-Money issued to your E-Wallet in exchange for payment by bank transfer must be sent from your Nominated Account.

5.8

We may, in our sole discretion, place a reserve on funds held in E-Wallets with a high volume of Payment Transactions where we believe there may be a high level of risk associated with the E-Wallet. If an E-Wallet is made subject to a reserve, we will provide notice specifying the terms of that reserve. These terms may require that a certain percentage of amounts received into the E-Wallet be held for a period of time, that a certain amount of E-Money be held in reserve, or any other requirement we determine is necessary to protect against the risk associated with the E-Wallet. Subject to clause 17, we may change the terms of any reserve at any time by giving notice of the new terms.

5.9

If the balance of your E-Wallet is negative for any reason, or if any other sums are past due to us, we may set off that negative balance by deducting amounts you owe from funds you receive into your E-Wallet or from funds you attempt to withdraw or send. You agree that we may recover any amounts due by debiting your E-Wallet. If there are insufficient funds in your E-Wallet to cover the amount due, you agree to reimburse us through other means, including:

5.9.1 recovering the amount due from your Nominated Account
5.9.2 recovering the fees from your alternate funding sources
5.9.3 taking other legal action to collect the amount due, to the extent permitted by Applicable Law.

5.10

To secure your performance of this Agreement, you grant us a lien over and security interest in your E-Wallet and agree to execute any further documentation required to perfect those rights.

5.11

We safeguard all funds received in exchange for E-Money issued in accordance with our obligations under Applicable Law.

6. Executing Payment Transactions

6.1

You may use your E-Money balance to execute Payment Transactions, including transfers to your own account or to a third party, by redeeming part of your E-Money balance and or redeeming your balance back to your Nominated Account.

6.2

You must ensure that you have sufficient available E-Money in your E-Wallet to cover the full value of the Payment Transaction and the applicable fees when you submit a Payment Order.

6.3

You may choose to execute a Payment Transaction by designating a Mobile Money Account linked to your E-Wallet as your Nominated Account. In such circumstances, if your E-Wallet has insufficient available balance, we shall credit your E-Wallet using the selected Mobile Money Account in order to cover the full value of the Payment Transaction and the relevant fees.

6.4

If there is insufficient E-Money in your E-Wallet to cover a Payment Transaction, we will block the Payment Transaction and you will receive a notification that you have insufficient balance.

6.5

Where any payment out of your E-Wallet is made in a currency other than shillings, we are entitled to debit your E-Wallet in shillings in an amount equivalent to the Payment Transaction amount, converted using the exchange rate agreed with you before the Payment Transaction is executed.

6.6

All Payment Transactions to third parties, withdrawals, and redemptions under this clause are subject to the limits set out in clause 10.

6.7

To submit a Payment Order, you must provide through the App at least the following information:

6.7.1 name of the recipient
6.7.2 address of the recipient
6.7.3 recipient’s bank or payment institution
6.7.4 recipient’s bank account number
6.7.5 name of any intermediary party or parties
6.7.6 purpose of the payment
6.7.7 any other information requested by us.

You must then follow the on-screen instructions to confirm and submit the Payment Order.

6.8

Where we permit Payment Transactions to other E-Wallet holders with us, to initiate such a Payment Order through the App you must provide the recipient’s account number, username, and purpose of payment, and follow the on-screen instructions to confirm and submit the Payment Order.

6.9

To authorize a Payment Transaction, you must enter a one-time authentication code in the App, which will be delivered to your verified mobile phone number or email address, or provide any other Authentication Instrument required by us from time to time. You are responsible for verifying the payment amount, recipient, and other material details before authorizing the Payment Transaction.

6.10

Before executing a Payment Order, we shall present you through the App with at least:

6.10.1 the name and account number of the recipient
6.10.2 the payment amount and currency
6.10.3 the date your account will be debited
6.10.4 the amount payable for executing the Payment Order.

6.11

After execution of a Payment Order, we shall also present through the App:

6.11.1 the payment order number
6.11.2 the date on which the payee’s account is expected to be credited.

6.13

When a Payment Transaction is executed, we shall deduct the value of the Payment Transaction and any applicable fees from your E-Wallet as soon as they become payable under the Fee Schedule.

6.14

Where a Payment Transaction from the E-Wallet is reversed, the returned funds will be received by us and treated as a request by the intended recipient to purchase E-Money. As a result, your E-Wallet will be issued E-Money equivalent to the refunded sum.

7. Redemptions

7.1

Any redemption requested by you from your E-Wallet will be made only to your Nominated Account. E-Money held in your E-Wallet may be redeemed at any time, subject to any procedural restrictions and applicable Fees, by initiating a Payment Transaction to your Nominated Account through the App.

7.2

We reserve the right to request additional documents relating to you or to any specific redemption or Payment Transaction.

8. Execution Timeframes

8.1

Where a Payment Order is not refused or delayed, it becomes binding from the moment we receive it. We will deem a Payment Order to have been received as follows:

8.1.1

Where you agree that execution of the Payment Transaction is to take place:
on a specific day
on the last day of a certain period
or on the day on which you place funds at our disposal

the time of receipt shall be deemed to be that agreed day, unless it is not a Business Day, in which case it will be deemed received on the next applicable Business Day.

8.1.2

In all other Payment Transactions:

if a Payment Order is submitted before 15:00 on a Business Day, it will be deemed received on that Business Day
if it is submitted after 15:00 on a Business Day, it will be deemed received on the next applicable Business Day
if it is submitted on a day that is not a Business Day, it will be deemed received on the next applicable Business Day.

8.2

If you submit a Payment Order that is deemed received on the same Business Day, it is binding on you and cannot be withdrawn.

8.3

If you submit a Payment Order that is deemed received on a later Business Day, you may withdraw it through the App until the Business Day before the day on which it is deemed received. After that point, it becomes binding on both parties.

9. Refusing or Delaying Payment Transactions

9.1

We review Account and Payment Transaction activity at various times, including when you initiate a transfer out of your E-Wallet, for suspicious or illegal activity and for other reasons. Where appropriate, we have the right to refuse any Payment Order and or delay and investigate a Payment Transaction where:

9.1.1 you have not provided the information required to execute the Payment Order or any additional information we requested
9.1.2 you fail to authorize the Payment Transaction as required
9.1.3 Applicable Law prohibits execution of the Payment Transaction or requires further financial crime checks
9.1.4 we believe or suspect that the Payment Transaction may be fraudulent or connected to criminal activity
9.1.5 you have breached this Agreement, or execution of the Payment Transaction would result in such a breach
9.1.6 there is insufficient E-Money to cover the Payment Transaction and applicable fees
9.1.7 execution of the Payment Transaction would cause a breach of a payment limit under clause 10
9.1.8 a bankruptcy order or analogous proceeding has been made against you
9.1.9 a third party prevents us from making the payment, such as a payment system we are required to use
9.1.10 the Payment Transaction can only be executed through a payment system of which we are not a member
9.1.11 the services provided to you have been suspended in any way.

9.2

In addition to the actions set out above, we may also:

9.2.1 hold funds subject to a Payment Transaction
9.2.2 apply funds to a negative E-Wallet balance or use funds to offset a loss incurred by us
9.2.3 suspend or terminate your Account
9.2.4 seize funds in order to comply with a court order, warrant, or other legal process
9.2.5 reverse a Payment Transaction by returning funds to the payer’s E-Wallet.

9.3

If a Payment Order is under investigation, we may place a hold on it and, subject to Applicable Law, notify the recipient. After review, we may approve or cancel the Payment Order. If approved, we shall notify the recipient. If cancelled, we may, subject to Applicable Law, return the E-Money to your E-Wallet. While an investigation is ongoing, we reserve the right to freeze your Account.

9.4

We also reserve the right to freeze and block your Account if we determine that any funds have been acquired illegitimately or where you are unable to provide details of the original source of funds transferred from your Nominated Account to your E-Wallet.

9.5

If a Payment Order is refused or a Payment Transaction delayed, and where permitted by Applicable Law, you will be informed of the action taken and the reasons for it either in advance or, if that is not possible, immediately afterward.

10. Payment Limits

10.1

From time to time, we may set payment limits on the value of Payment Transactions you may carry out:

10.1.1 for a single Payment Transaction
10.1.2 for cumulative Payment Transactions over a specified period.

10.2

Applicable payment limits are available on the Website. We may increase or decrease these limits at our sole discretion and will notify you in advance of any changes.

10.3

If you wish to increase or decrease a payment limit, you should contact us at support@vaulit.com.

10.4

Any increase in payment limit is at our sole discretion. We are not obliged to approve any increase and may request information and documents to substantiate the need for it.

11. Unauthorized Payments

11.1

Subject to this clause 11, where an unauthorized Payment Transaction is made from your Account, you will only be liable for up to a maximum of UGX 175,000 for any losses incurred as a result of unauthorized Payment Transactions arising:

11.1.1 from use of your Authentication Instrument after it has been lost or stolen
11.1.2 where you have failed to keep your Authentication Instrument safe.

11.2

You shall not bear any liability for an unauthorized Payment Transaction where:

11.2.1 the loss was caused by our action or inaction, including that of our employees or agents
11.2.2 the loss, theft, or misappropriation of the Authentication Instrument was not detectable by you before the Payment Transaction.

11.3

Except where you have acted fraudulently, you shall not bear liability for an unauthorized Payment Transaction where:

11.3.1 we have not enabled you to notify us in accordance with clause 4.4
11.3.2 you had already notified us of the loss, theft, or misappropriation of the Authentication Instrument
11.3.3 we did not require strong customer authentication where it should have been required
11.3.4 the Authentication Instrument was used in connection with a distance contract, such as an online purchase.

11.4

You will bear full liability for any unauthorized Payment Transactions where:

11.4.1 you have committed fraud
11.4.2 you intentionally or through gross negligence breached one or more obligations regarding the safekeeping of the Authentication Instrument under this Agreement
11.4.3 you intentionally or through gross negligence failed to notify us in accordance with clause 19 without undue delay after becoming aware of the loss, theft, misappropriation, or unauthorized use of the Authentication Instrument, or in any event more than 13 months after the day your E-Wallet was debited in relation to the unauthorized Payment Transaction.

11.5

Where you are not fully liable for an unauthorized Payment Transaction, we shall return the relevant amount, including any fees and interest, no later than the next Business Day after the day on which we learned of the unauthorized Payment Transaction.

12. Unexecuted and Incorrectly Executed Payments

12.1

We will not be liable for any loss or cost you may suffer as a result of our acting on your instructions, whether or not that loss or cost was foreseeable.

12.2

If you are an Individual and we have not executed, or have incorrectly executed, a Payment Transaction, you have the right to claim an immediate refund of the respective payment amount without deductions. If we charged a service fee for that Payment Transaction, you may also claim a refund of that service fee together with interest for late payment calculated at the statutory rate. If we made any unjustified deductions from the payment amount, we are obliged, without delay, to forward the unjustifiably deducted amounts to the recipient.

12.3

You do not have the rights set out in clause 12.2 where we executed your Payment Order fully in accordance with the payment information you submitted. In such a case, you may request that we assist you in retrieving the payment amount, and we may charge any applicable fee indicated in the Fee Schedule.

13. Term and Termination

Term

13.1

Once this Agreement becomes effective, there is no minimum contract period. This Agreement continues until terminated in accordance with this clause 13.

Termination by Notice

13.2

You may terminate this Agreement at any time by emailing support@vaulit.com and requesting closure of your Account. It may take up to 30 days for closure to be completed.

Termination by Us and Right to Refuse Services

13.6

In connection with our obligations under Applicable Law, we reserve the right to refuse to provide any services to you and to terminate this Agreement immediately if one or more of the following occurs:

13.6.1 if you are an Individual and are not at least 18 years old, not capable of entering into legally binding contracts, or not resident in a country in which we operate
13.6.2 we are unable to complete one or more due diligence measures to our satisfaction, including identifying your purpose for using our services, verifying your identity and where relevant that of beneficial owners, or obtaining sufficient understanding supported by documents regarding the origin of your funds, source of wealth, or financial situation
13.6.3 you do not provide additional information or documents that we are required to collect under Applicable Law despite our request
13.6.4 you engage in activity that breaches Applicable Law or that we consider harmful or immoral
13.6.5 you have provided incorrect or insufficient information or documents, failed to perform an obligation under this Agreement, or caused or threatened damage to us
13.6.6 we suspect that you may be involved in money laundering, terrorist financing, fraud, or other illegal activity, and we are unable to remove those suspicions
13.6.7 circumstances relating to you or a person affiliated with you indicate a higher risk of money laundering, terrorist financing, fraud, or other illegal activity, and we do not wish to provide services
13.6.8 you or a person affiliated with you are or have been subject to Ugandan or international financial sanctions
13.6.9 you have overdue amounts payable to us on which we are entitled to claim interest for late payment
13.6.10 a competent public or law enforcement authority, supervisory authority, tax authority, court, or bailiff has lawfully ordered us to terminate your Account or otherwise restrict services to you
13.6.11 an administrator of an international clearing system, a card organization, a correspondent bank, or another intermediary demands that we restrict services to you
13.6.12 we may not provide services to you under Applicable Law, or we have the right under Applicable Law to refuse or immediately terminate the Agreement.

13.7

If we exercise our rights under clause 13.6, we shall not be liable to you for any costs, losses, claims, or expenses caused by our doing so.

14. Consequences of Termination

14.1

Upon termination of this Agreement for any reason, we may prohibit your access to the Services, including by deactivating your Account, and may refuse future access by you or, if you are a business entity, by your parent, affiliates, subsidiaries, or successors.

14.2

Upon termination of this Agreement, we shall:

14.2.1 reject any Payment Transactions not yet deemed received
14.2.2 close your E-Wallet
14.2.3 redeem any remaining E-Money in your E-Wallet to your Nominated Account, less any fees due and payable to us.

After the transfer referred to in clause 14.2.3, we shall have no further obligations to you under this Agreement.

14.3

If for any reason we are unable to redeem the remaining E-Money in your E-Wallet to your Nominated Account after termination, we will retain the balance in a segregated account until we are notified of a valid payment account that satisfies the requirements of a Nominated Account.

14.4

Where there is insufficient E-Money to satisfy all fees due to us, you must transfer the outstanding balance to an account nominated by us within 5 Business Days after the amount due has been offset against the E-Wallet balance.

14.5

We are not required to redeem any E-Money from your E-Wallet if you request redemption more than six years after the date this Agreement was terminated.

15. Statements

15.1

You may at any time view or download a statement of E-Money issuances, Payment Transactions, and Redemptions made to or from your E-Wallet through the App in the section labelled “Account History”. We shall also make available to you, on request, a monthly account statement covering the previous 12 months. If the statement shows any transaction not made by you, you must report it to us at support@vaulit.com.

16. Fees

16.1

You must pay the fees set out in the Fee Schedule for the Services provided to you under this Agreement.

16.2

Where a Fee is included in the Fee Schedule for a service provided to you, we may debit that amount from your E-Wallet without notifying you.

16.3

Where a monthly fee is included in the Fee Schedule for a service provided to you, we may debit that amount from your E-Wallet in advance on the Business Day on which that service is first provided to you, and on the same Business Day of each subsequent month, unless this Agreement or the Fee Schedule states otherwise.

16.4

Following a Payment Transaction, you are liable to us for the full amount of the payment plus any additional fees incurred if the payment is later invalidated for any reason. This means that, in addition to any other liability, you are responsible for the value of the Payment Transaction plus applicable fees if you make an unsuccessful claim or chargeback, or if the Payment Transaction is reversed. You agree that we may recover any such amounts by deducting them from your E-Wallet. If there are insufficient funds in your E-Wallet, you agree to reimburse us through the means set out in clauses 5.9.1 to 5.9.3.

16.5

If we make a payment to you in respect of a claim, reversal, or chargeback that you file against a payment recipient, you agree that we assume your rights against the recipient and related third parties and may pursue those rights directly or on your behalf at our discretion.

17. Amending this Agreement

17.1

The valid version of this Agreement and the Fee Schedule shall be the latest version made available on the Website and in the application, as updated from time to time.

17.2

We have the right to unilaterally amend this Agreement, including the Fee Schedule.

17.3

If we amend this Agreement, we will notify you of the amendments in accordance with clause 19.

17.3.1

We will notify you at least two months before the amendments take effect, unless otherwise stated. If you do not accept the amendments, you may terminate the Agreement without additional fees at any time before the amendments take effect by notifying us through the App or by email at support@vaulit.com. If you do not notify us before the amendments take effect, you will be deemed to have accepted them and may no longer terminate the Agreement under this clause 17.3.

17.4

If any provision of this Agreement becomes void under Applicable Law, then, subject to Applicable Law, we may unilaterally amend the Agreement by replacing the void provision with a valid one that serves, as far as possible, the same purpose. In that case, we will notify you through the App or by email. You do not have the right to terminate under clause 17.3 in such circumstances.

19. Notices

General

19.1

All notices and communications made in connection with this Agreement by us will be in English.

Notices to You

19.2

We may provide notices or communications to you through:

19.2.1 the App when you log in
19.2.2 email to the most recent email address you provided to us.

19.3

You undertake that the contact details you provide are current and that you can be reached using them. If your contact details change, you must provide updated details without delay. You may update your contact details as set out in clause 19.1.

19.4

Notices sent to you by us will be deemed received:

19.4.1 if sent by email, on the Business Day they are sent
19.4.2 if sent through the App, on the Business Day they are accepted through the App.

Notices to Us

19.5

Any notice to us must be sent by post to Relworx Uganda, Legal Department, 4th Floor NIC Building, Jinja Road, or by email to support@vaulit.com.

19.6

If you notify us orally of any event, we may require written confirmation within 10 Business Days. During investigation of that event, we may request additional information from you.

20. Privacy and Data Protection

20.1

Protecting your privacy is important to us. Please review our Privacy Policy to better understand our commitment to maintaining your privacy, protecting your data, and our use and disclosure of your information. If you receive information about another Vaulit customer through the Services, you must keep that information confidential and use it only in connection with the Services. You may not disclose or distribute another Vaulit user’s information to a third party or use it for marketing purposes without that user’s express consent.

21. The App

Third Party Operating System Providers, Phone Manufacturers, and Mobile Network Operators

21.1

The App operates in connection with particular devices and operating systems, such as Apple iOS. We are solely responsible for providing maintenance and support services for the Services. Covered Third Parties have no obligation to provide maintenance or support services, and they have no warranty obligations with respect to the Services. Any claims, losses, liabilities, damages, costs, or expenses attributable to any failure of the Services to conform to any warranty provided by us, if any, will be our sole responsibility. We, and not any Covered Third Party, are responsible for addressing any claims relating to the Services, including:

21.1.1 product liability claims
21.1.2 claims that the Services fail to comply with any applicable legal or regulatory requirement
21.1.3 claims arising under consumer protection or similar legislation
21.1.4 intellectual property claims.

21.2

If you use the Services on an Apple device, you acknowledge and agree that Apple and its subsidiaries are third party beneficiaries of this Agreement and have the right to enforce it against you as such. Similar rights may also accrue to other handset manufacturers and operating systems that participate in the Services.

Services via SMS or Mobile Data

21.3

The Services allow you to send and receive payments through your mobile phone using SMS or a mobile data plan. If you use the Services in this way, you are responsible for any fees charged by your phone service provider for SMS, data, or similar services. Your phone service provider is not the provider of the Services.

22. Intellectual Property

Vaulit Websites

22.1

The Website and any other website operated by us may feature third party offers and enable product searches. We do not warrant that product descriptions, pricing, search results, user ratings, reviews, or any other content on such websites is accurate, complete, reliable, or current. This information is provided for informational purposes only and does not constitute our endorsement of any product, service, or vendor.

Intellectual Property

22.2

“vaulit.com”, “Vaulit”, and all related logos, products, and services described on any website operated by Relworx, including the Website, and any mobile application operated by Vaulit, including the App, are trademarks or registered trademarks of Vaulit or its affiliates, licensors, or both. You may not copy, imitate, or use them without Relworx’s prior written consent. All page headers, custom graphics, button icons, and scripts are service marks, trademarks, and or trade dress of Vaulit and may not be copied, imitated, or used without prior written consent. You may use HTML logos provided by Vaulit through vendor services, SMS tools, promotional tools, or affiliate programs without prior written consent solely for the purpose of directing web and SMS traffic to the Service. You may not alter, modify, or use these HTML logos in any way that is disparaging to Vaulit or the Service or that implies sponsorship or endorsement by Vaulit. All right, title, and interest in any website operated by Relworx and its content is the exclusive property of Vaulit and its licensors. Certain other product names, service names, brand names, and company names may be trademarks of their respective owners.

23. Liability

23.1

If we suffer damages, expenses, or losses because you violate our policies, breach any law, or otherwise cause us harm, we may hold your funds for up to 180 days, recover from you the damages incurred from each violation, and take legal action to recover additional losses, investigation costs, fines, or legal fees.

23.2

Unless otherwise prohibited by Applicable Law, you assume all responsibility for your use of the Services and use them at your own risk. To the fullest extent permitted by Applicable Law, all representations, warranties, guarantees, and conditions are disclaimed, including implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, or any other terms that might otherwise be implied by statute, common law, or equity. We do not warrant that the Services will be uninterrupted or error free, that defects will be corrected, or that the Services or the servers used to process information are free of viruses, bugs, or other harmful components.

23.3

On behalf of ourselves, Covered Third Parties, and each of our respective affiliates, vendors, agents, and suppliers, the Services are provided on an “as is”, “as available”, and “with all faults” basis, without any representation, warranty, guarantee, or condition of any kind, whether express, implied, or statutory, including any warranty as to use, operation, content, or materials related to the Services. Neither we, nor any third party, nor any Covered Third Party warrants or makes any representation as to the correctness, accuracy, timeliness, reliability, or otherwise of the use or results of the Services.

23.4

You assume the full cost of any maintenance, repair, or correction required for any equipment you use to access the Services, including your mobile phone or other device. Neither we, nor any third party including Covered Third Parties, nor any of their affiliates, vendors, agents, or suppliers will be liable for any damages of any kind arising from your use of the Services, including indirect, special, incidental, punitive, exemplary, or consequential damages, damages resulting from loss of use, lost data, lost profits, or business interruption, whether based on contract, tort, negligence, strict liability, or otherwise, even if advised of the possibility of such damages and even if any remedy fails of its essential purpose.

Limitations on Liability

23.5

Except as otherwise expressly provided in this Agreement, and to the extent permitted by Applicable Law, our cumulative liability to you for any claims or damages arising out of or related to your use of the Services shall not exceed the Fees you paid to us for the Services provided under this Agreement.

Indemnification

23.6

Except to the extent that any loss is caused by a party’s negligence, willful default, or fraud, or that of its employees or affiliated companies, the other party will indemnify the non-breaching party against all costs, losses, claims, and expenses incurred in connection with this Agreement.

Release

23.7

If you have a dispute with one or more other Vaulit customers relating to payment, we are not responsible for that dispute and you release us, including our officers, directors, agents, joint ventures, and employees, from any and all claims, demands, and damages of every kind arising out of or in any way connected with such disputes.

24. Applicable Law and Dispute Resolution

24.1

This Agreement is governed by the laws of Uganda, and the courts of Uganda shall have exclusive jurisdiction over any claim, dispute, or matter arising from it.

24.2

You may submit complaints about the Services by email to us. We will handle complaints in accordance with our Complaints Handling Procedures, a summary of which is available on the Website.

24.3

If we do not respond to a duly submitted complaint within 15 days, you may have the right to seek recourse through the Financial Complaints Handling section of Bank of Uganda on its website. The terms for seeking recourse are set out in more detail on the Bank of Uganda website.

25. Survival and Force Majeure

25.1

If this Agreement or the Services terminate, any terms that by their nature are intended to continue shall survive termination, including clauses 1, 9, 11, 13, 14, 16 to 26.

25.2

We shall not be liable for any delay or failure in performance, delivery, or shipment of materials, or for any damages suffered by you as a result, where such delay or failure is caused directly or indirectly by events beyond our control, including acts of God, acts of public enemies, riots, disease including pandemics or epidemics, strikes, governmental acts, labour disputes, failure of power or telecommunications providers, delays in securing or shortages of materials, breakdown or destruction of any system or equipment, or any similar cause beyond our control.

26. General Provisions

26.1

You acknowledge and agree that this Agreement is between you and us, and not with any third party, including any Covered Third Party, and that we are solely responsible for the Services. Your use of the Services may be subject to separate agreements between you and a Covered Third Party. You agree to comply with all applicable Covered Third Party terms when using the Services. We are not a party to those agreements and have no responsibility for the products or services provided by such Covered Third Parties.

26.2

It is your responsibility to determine what taxes, if any, apply to any Payment Transaction you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply or for collecting, reporting, or remitting any taxes arising from any transaction.

26.3

This Agreement and any other documents referenced in or linked to it, including the Privacy Policy, constitute the entire agreement between you and us regarding your use of the Services.

26.4

If any provision of this Agreement is held to be illegal or unenforceable, that provision shall be enforced to the fullest extent possible, and the remaining provisions shall remain valid and enforceable as though the illegal or unenforceable provision had not been included.

26.5

Unless expressly stated otherwise, no provision of this Agreement is intended to be enforceable by any person who is not a party to this Agreement under the Contracts (Rights of Third Parties) Act 1999.

26.6

Clause headings are for convenience only and do not affect the interpretation of this Agreement.

26.7

You may not transfer, assign, mortgage, charge, subcontract, declare a trust over, or otherwise deal with any of your rights or obligations under this Agreement without our prior written consent. We may assign, transfer, or novate this Agreement or any rights and obligations under it to a third party without your consent.

26.8

We reserve the right to transfer or assign this Agreement or any right or obligation under it at any time.

26.9

Any delay or failure by us to act in relation to a breach by you or others does not waive our right to act in relation to that breach or any subsequent or similar breach.

26.10

Nothing in this Agreement creates any partnership, joint venture, or similar relationship between you and us or between you and any other individuals or entities involved in providing the Services.

26.11

The Company may arrange for Stanbic Bank Uganda (“SBU”) to provide you with access to a debit card (a “Vaulit Card”). By using the Vaulit Card, you agree to SBU’s Prepaid Card Terms and Conditions, as applicable (the “Vaulit Card Terms”). For the avoidance of doubt, the applicable Vaulit Card Terms are between you and SBU, not the Company. In the event of any inconsistency between this Agreement and the applicable Vaulit Card Terms, the applicable Vaulit Card Terms will govern your use of the Vaulit Card and your relationship with SBU.

How to Contact Us

If you are dissatisfied with any aspect of the Services you have received from Relworx, you may send a complaint to support@vaulit.com, call us at +256-78-7206277, or lodge a complaint through the in-app customer support chat in the Vaulit mobile app.

Vaulit Help Center
Relworx Uganda Ltd. All rights reserved

Mail us: team@relworx.com

Vaulit mobile app Uganda

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+256788926117
Location: Kampala Road, NIC Building, 4th Floor, Kampala, Uganda
P.O. Box 122822
Business Hours: 9:00 AM to 5:00 PM
Email: support@relworx.com