OWNERSHIP OF EQUIPMENT – All printer bundles are sold as an outright sale. They become the property of the user and Preci Technology Limited may only provide support as may be requested by the purchaser.
SERVICES CONDITIONAL ON ACCEPTANCE - The provision of Services is conditional upon the acceptance (“Acceptance”) of Vendor by zulpayLtd. Acceptance is deemed to be granted upon deployment of any of the bundles to the Vendor.
TERM - This Agreement will become effective upon Acceptance and continue for five (5) years (the “Initial Term”) unless terminated as set forth herein. Thereafter, this Agreement will be automatically renewed for successive five (5) year terms unless the Vendor notifies the zulpayin writing of its intention to terminate this Agreement as set forth herein.
WARRANTY & REPAIR - zulpaywill remotely diagnose and/or replace defective Equipment as long as Vendor: (i) has processed a Transaction within the past 15 days; (ii) Vendor is not in arrears to ZulPay ; and (iii) is not in possession of unreturned Equipment. Vendor will be responsible for (i) returning defective Equipment to ZulPay ; and (ii) all costs associated with Equipment damaged as a result of neglect, abuse, spillage or similar occurrences. Unreturned Equipment will be subject to a fee of N15,000 per item of Equipment per month. This is applicable only to equipment that is the property of ZulPay .
PROVISION OF SERVICES - Preci Technology Limited hereby agrees to use its reasonable efforts to provide the following Services:
connection of the equipment to a transaction processor for the processing of Transactions;
Settlement of surcharges (“Surcharges”), if any;
FEES AND SURCHARGES - Vendor acknowledges that:
Each Transaction will be subject to the commission set out herein or as otherwise agreed to.
Commissions can be adjusted without notice as may be deemed necessary by Preci Technology Limited. These adjustments will be done responsibly as to continue guaranteeing a market competitive value to all stakeholders.
EQUIPMENT AT THE RISK OF THE VENDOR - The Vendor assumes all of the obligations and risks of an absolute owner, and the Equipment is at the sole and exclusive risk of the Vendor from its date of delivery. The Vendor is liable for any loss, damage or destruction to the Equipment, however caused.
DATA PLAN - The coverage rate for all cellular data plans is 20k/kilobyte. However, vendors should get themselves abreast with the evolution of the data plan rates. In addition to the cellular data fees set out herein, the vendor shall bear any other cellular fees incurred by the vendor through the use of the zulpay app and equipment or Sim card. Preci Technology Limited no longer funds cellular fees for any client.
ZulPay 'S LIMITED LIABILITY - Preci Technology Limited is not under any circumstances whatsoever, liable for any damage to property or injury to any person, either direct or consequential, caused by or arising out of the delivery, installation, use, repair or presence or defect of the Equipment or any part or portion of the Equipment. All other liability of zulpayis limited to N1 (One Naira).
FEES AND MONIES OWING - The Vendor irrevocably authorizes and directs Preci Technology Limited or its agents/subcontractors to deduct out of the proceeds of all Transactions or Surcharges, all amounts as may be due and payable in accordance with the terms and conditions of this Agreement and further authorizes Preci Technology Limited to deduct any Fees or any other monies owing to Preci Technology Limited directly from their zulpay Account or wallet.
VENDOR'S RESPONSIBILITIES - The Vendor will:
Use the equipment / Mobile app to dispense vouchers according to the directions of the equipment and help guides provided.
adhere to all requirements / regulations applicable specifically to the provision of recharge card sales and bills payment.
be bound and abide to this Client Terms and Conditions.
if Vendor believes any adjustments should be made to their Account, notify Preci Technology Limited in writing within forty-five (45) days after any such debit or credit is or should have been effected.
maintain the Account at all times in positive credit;
take such steps as are necessary or advisable in order to prevent unauthorized use of the Equipment;
notify zulpayimmediately upon discovering any loss (including theft) or damage to or unauthorized use of the Equipment;
maintain the Equipment in a state of good repair, condition and working order as would a prudent owner;
promptly report any errors, malfunctions or other problems of the Equipment to ZulPay ;
allow zulpayto have free and unobstructed access to the Vendor's premises as required for site preparation, installation, investigation and maintenance activities during the Vendor's normal business hours;
maintain appropriate reporting and operational processes to reconcile on a daily basis Settlement totals posted to the Account;
maintain accurate logs of employee shifts and provide these logs (with or without employee names) to ZulPay ;
aid in the remote diagnostics and service of the Equipment.
Vendors are expected to perform a minimum daily transaction of N20,000 – N30,000. This is the recommended daily transaction volume for retailers to earn any meaningful income from retailing our products. While we do not place such limits on non-retailers, it will become evident to Vendors that transactions below this range daily is not worth their while and therefore not profitable for their business. Vendors are requested to provide prior notice to zulpayreasons for any prolonged absence of use. Such notice shall be sent to our customer service in writing and approval granted by zulpaywithout necessitating a return of the device. Failure to obtain approval for prolonged inactivity may result in Termination of services. Such request for inactivity will not be unduly withheld.
Pay a N5,000 registration fee. This fee will only be collected at the termination of the contract by either party as specified in the clause 14 below.
Never use the zulpay app for money laundering, fraudulent activities or cause harm to the business of and reputation of Preci Technology Limited. Any indication of breach in use for nefarious activities will result in immediate closure of the wallet with denial of service and forfeiture of any funds in all concerned wallets.
VENDOR ACKNOWLEDGMENTS - The Vendor acknowledges that:
Preci Technology Limited does not guarantee uninterrupted service of the equipment and the zulpay app and specifically waives all rights that it has or may have and hereby releases zulpayfrom any and all liabilities whatsoever of every nature for or by reason of any interruption of services or the Equipment;
Preci Technology Limited is not liable whatsoever for any direct or indirect losses or damages, general or specific, with respect to the profits, revenue, earnings and/or goodwill of the Vendor as a result of services provided and its use of the Equipment or any related mechanical, electrical, data, system, processing, errors or failures. The Vendor specifically waives all rights that it has or may have in relation thereto and irrevocably releases and forever discharges zulpayfrom and against any such losses or Damages, however caused; and
Preci Technology Limited has the right to have access to examine and verify at any reasonable time all records of the Vendor pertaining to transactions processed through the zulpay app and any other equipment.
INDEMNIFICATION - The Vendor shall indemnify and hold zulpayharmless from and against any and all claims, suits, damages, losses, costs, expenses and fees (including legal fees) incurred directly or indirectly by zulpayby reason of the Vendor's failure to utilize the Equipment or the Services in accordance with the terms and conditions of this Agreement, and for any liability to third parties for any injuries or damages not resulting solely from the negligence or willful misconduct of ZulPay , which result from the provision by zulpayof the Equipment or Services.
TERMINATION BY ZulPay - Preci Technology Limited may terminate this Agreement, or cease providing the Services in respect of a particular piece of Equipment or the zulpay app:
at any time without notice;
if the Vendor has failed to comply with the Requirements and Responsibilities;
the Vendor has failed to comply with material terms of this Agreement;
zulpaynotifies the other party that the Vendor represents an unacceptable risk to the integrity of the Services. Termination of this Agreement, or termination of Services in respect of a particular piece of Equipment, does not relieve the Vendor from its obligations to pay applicable fees incurred to the date of termination.
Dormant accounts will be deleted by Preci Technology Limited when left unused for 2 weeks after creation and without funding (zero balance) or 3 months without usage. In this case any fund left in the wallet if forfeited as registration fee up to a maximum of N5,000 (five thousand naira).
TERMINATION BY VENDOR - Either party CAN terminate This agreement without notice. Upon termination expressed in writing, Vendor is required to Dispatch all Preci Technology Limited materials to a Preci Technology Limited designated collection point or marketer. Vendors will have no claim to any funds remaining in their wallet up to the N5,000 (five thousand Naira) registration fee which only becomes due upon termination. All funds above this registration fee will be returned to the clients designated bank account. Vendors may be liable to prosecution should they detain and refuse to return any property that has not been outrightly purchased. Preci Technology Limited will use any legal means to enforce recovery of their equipment if Vendors fail to return them when demanded.
TERMINATION NOT TO AFFECT ANCILLARY AGREEMENTS - Termination of this Agreement does not affect any separate agreement regarding the Equipment or Services between the Vendor and a third party.
ENUREMENT - This Agreement is binding upon the parties hereto and their respective heirs, executors, administrators, legal personal representatives, successors, and assigns.
SEVERABILITY - The invalidity or unenforceability of any one or more of the provisions of this Agreement shall not affect the validity or enforceability of any of the other provisions hereof.
ENTIRE AGREEMENT - The parties acknowledge that this Agreement comprises the entire agreement between the parties and that there are no representations, warranties, guarantees, terms or conditions, expressed or implied, other than those contained herein and that there are no collateral agreements.
ADVERTISING AND DISPLAYS
zulpayhas the right to identify the Vendor as a user of the Equipment and Services in its marketing materials; and
wherever possible, Vendor will display ZulPay 's trade name and/or logo in the form provided by ZulPay .
MODIFICATIONS - This Agreement may be modified in whole or in part by the zulpayat any time without notice.
ADMINISTRATIVE FEES - zulpayreserves the right to charge Vendor administrative fees for services requested by Vendor.
SURVIVAL - The provisions of sections 16, 17, 18, and 19 shall survive the termination of this Agreement.
ZulPay
ZulPay