Merchant Agreement

1.1. The Company provides the Merchant with access to the MulenPay software and technology platform for accepting, processing and supporting payments through partner payment institutions and banks.

1.2. The Company is not a bank, a payment system, an electronic money operator or a payment aggregator.

1.3. Payer funds are accepted and processed by licensed financial institutions and payment partners of the Company.

1.4. The Company provides solely a software and technical interface for the interaction of the Merchant with the payment infrastructure of partners.

2.1. To connect to the System, the Merchant is obliged to provide accurate registration information.

2.2. The Company has the right to request:

• constituent documents;
• information on beneficial owners;
• contact details;
• a description of the activity;
• the website address;
• AML/KYC documents;
• other information necessary to verify the activity of the Merchant.

2.3. The Company has the right to refuse onboarding without explanation in cases related to risks, legal requirements or the internal risk management policy.

The Company provides:

• the Merchant personal account;
• an API for integration;
• invoicing tools;
• payment links;
• payment status notifications;
• transaction reports;
• technical support.

The list of services may change without prior notice.

The Merchant undertakes:

• to comply with the legislation of the country of its registration;
• to provide accurate information;
• to keep the registration data up to date;
• to independently ensure the legality of the goods and services offered;
• to respond in a timely manner to requests of the Company and payment partners;
• to comply with AML/CFT and sanctions legislation requirements;
• not to use the System for fraudulent activity.

The use of MulenPay is prohibited for:

• illegal activity;
• terrorist financing;
• money laundering;
• the sale of narcotic substances;
• the trade in weapons;
• the distribution of malicious software;
• financial pyramids;
• fraudulent schemes;
• unlicensed gambling activity;
• activity that violates international sanctions.

The Company has the right to independently determine the risk level of the activity of the Merchant.

6.1. The Company does not accept or hold client funds.

6.2. All settlements are carried out through banks and payment institutions of partners.

6.3. The Company does not guarantee the successful completion of every operation.

6.4. The Company is not responsible for the decisions of banks, card issuers, payment systems or other financial organizations.

7.1. The Merchant is solely responsible to its own clients.

7.2. Refunds are carried out in accordance with the rules of the payment partner.

7.3. The Company has the right to suspend servicing of the Merchant upon detection of an elevated level of refunds, complaints or fraudulent activity.

8.1. The amount of fees is determined by a separate commercial proposal or a tariff plan.

8.2. The Company has the right to change tariffs with prior notice to the Merchant.

8.3. All fees are withheld in accordance with the current tariff plan.

9.1. The Company has the right to conduct checks of the Merchant and its activity.

9.2. The Company has the right to request documents and information to fulfil AML/CFT requirements.

9.3. The Company has the right:

• to suspend operations;
• to restrict access to services;
• to request additional information;
• to terminate cooperation.

9.4. The Company has the right to transfer information to competent authorities where there are appropriate lawful grounds.

The parties undertake to maintain the confidentiality of the information received.

Any commercial, technical, financial or other information that is not publicly available is considered confidential.

Confidentiality obligations remain in force for 5 (five) years after the termination of cooperation.

All rights to the software, the API, the documentation, the trademarks and other intellectual property objects belong to the Company.

The Merchant is granted a limited non-exclusive right to use the services within the framework of this Agreement.

The Company is not responsible for:

• the actions of banks and payment partners;
• the blocking of operations by financial institutions;
• the decisions of payment systems;
• the actions of third parties;
• lost profit;
• indirect losses;
• downtime caused by technical works.

The maximum liability of the Company is limited to the amount of fees actually paid by the Merchant to the Company over the last 3 (three) months of cooperation.

The Company has the right to immediately restrict or terminate servicing of the Merchant in the event of:

• a breach of this Agreement;
• the detection of fraud;
• the provision of false information;
• a violation of sanctions restrictions;
• legal requirements;
• receipt of an order from a payment partner or a competent authority.

This Agreement takes effect from the moment of registration of the Merchant in the System and remains in force indefinitely.

Either party has the right to terminate cooperation by notifying the other party at least 30 calendar days in advance.

This Agreement is governed by the legislation of the Commonwealth of Dominica.

All disputes and disagreements are resolved through negotiations.

If a dispute cannot be settled amicably, it is subject to consideration in the competent court at the place of registration of the Company.