VOGUEPAY TERMS AND CONDITIONS

These are the terms and conditions you must agree to prior to using our services.

This User Agreement ("Agreement") is a contract between you and Afrisoft Interactive Ventures Limited (Owners of VoguePay) that applies to your use of the VoguePay third-party payment processing service and any related products and services ("Service") available through VoguePay.com ("Site").

If you do not agree to be bound by the terms and conditions of this Agreement, you may not use this Site or any of the Services.

Afrisoft may amend this Agreement at any time by posting a revised version on this website. Except as stated, all amendments will be effective 30 days after they are posted on this Site. Notices of upcoming changes will be posted on our website and on notification pages posted in your VoguePay.com account.

In this Agreement, "you" or "your" means any person or entity ("Users") using the Service. Unless otherwise stated, "Afrisoft", "VoguePay", "we" or "our" will refer collectively to Afrisoft Interactive Ventures Limited, its officers, directors, agents, subsidiaries, joint ventures, employees and suppliers.

1.0 Eligibility

Both Sellers and Buyers of products and services ("Products") can use the Service. Unless otherwise stated, all provisions in this Agreement apply to both Sellers and Buyers.

You agree that any information you give to us ("User Information") will stay in our records unless otherwise agreed upon.

You agree that we do not need additional consent to store, use and transmit data to third parties in the performance of our customer support duties and due diligence for detection of money laundering and terrorist funding.

1.1 Warranties

You represent and warrant that all of the following are true of you and your affiliates from your entry into this Agreement until the termination of your Account:

If you are an entity other than an individual, you have the legal capacity to enter into this Agreement and perform the obligations represented within it.

If you are an individual, then you are at least 18 years of age and do not require the consent, approbation or approval of any other person or entity to conclude a contractual obligation of the type represented in this Agreement.

Your execution of and performance under this Agreement in no way violates any legal obligation of the Seller, including any agreement between or among Seller(s) and any third party(ies).

If you are a Seller, you sell through your website only Products and/or services that are available for delivery in the normal course of your business.

You offer Products and/or services for sale only if you have the legal right to market and sell such Products and/or services in all applicable jurisdictions.

You maintain the value and reputation of VoguePay to the best of your ability.

You conduct your business affairs according to the terms and intent of this Agreement and in compliance with all applicable laws and regulations.

You do not use our Services for any activities considered fraudulent or illegal under any laws or regulations in any applicable jurisdiction.

You do not permit or authorize any other person or entity to use our Services without our written consent.

If you are a Seller, you have had ample opportunity to obtain legal advice regarding the legal effects of this Agreement. You can deliver your full legal name, street address, telephone number and email address by postal mail or email to your Buyer(s) and grant VoguePay access to records of this correspondence.

You will refrainfrom using abusive and vulgar language with VoguePay employees, whether through email, support ticket, blog comments or phone support. Abusive conduct will not be tolerated and will result in account termination.

2.0 Liability

2.1 Our Liability

If you have a dispute with one or more Users, you release VoguePay from any and all claims, demands and actual/consequential damages related to your transaction(s) with said User(s). We provide our services "as is" without any warranty or condition.

VoguePay makes reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards and check issuances are processed promptly. We make no representations or warranties regarding the amount of time needed to complete transactions because our Service is largely dependent upon many factors outside of our control.

Under no circumstances will we be liable for any lost profits, special, incidental or consequential damages arising out of or in connection to the Site, our Service or this Agreement. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. Under no circumstances shall our liability to you exceed the amount of the revenue earned from transactions carried out by you in the three months prior to the event leading to liability.

You agree to indemnify and hold VoguePay harmless from any claim or demand, including attorneys' fees, made or incurred by any third party due to or arising out of your breach of this Agreement, by the documents it incorporates or by your violation of any law or third-party rights related to your use of the Service.

You agree that if either you or VoguePay begin litigation or arbitration, the prevailing party is entitled to recover reasonable attorneys' fees and any other costs incurred in addition to any other relief to which the prevailing party may be entitled.

You agree to indemnify and hold VoguePay harmless for unauthorized transactions done through VoguePay. It is very important to contact us immediately if you believe your account has been compromised or if someone has transferred money through your account without your permission. Notifying us as soon as possible will limit your liability.

2.2 Your Liability

If you do not report unauthorized transactions in your VoguePay account, you will be liable for any resulting damages. We will do what we can to recover the funds, but if we are unable to recover them, you will assume responsibility for the losses.

Your VoguePay account is protected by a password. As long as you keep the password confidential, no one will be able to access the funds or information in your VoguePay account. If a member shares their password with others or allows others to discover and use their password with the account, the account holder is giving access to the funds and information in the account and assumes all responsibility for transactions in this account.

You are responsible for performing your due diligence on any Sellers with whom you plan on doing business. If you neglect to perform due diligence on a Seller and do not receive an item you paid for or receive an item that does not appear as the Seller described it, you will be liable for any resulting damages. However, if you file a transaction dispute, we will do our best to mediate a resolution that will benefit all parties involved.

3.0 Agency Relationship

VoguePay provides third-party payment processing services and carries out related actions on your behalf. At all times, we hold your funds separate from our corporate funds and do not use your funds for our operating expenses or corporate purposes. We do not voluntarily make your funds available to our creditors in the event of bankruptcy or other purposes. You acknowledge that VoguePay is not a bank and that the Service is a payment processing service rather than a banking service.

By initiating and sending payments through the Service or adding funds to your balance, you appoint VoguePay as your agent to obtain the funds on your behalf and transfer them to the designated receiver. When you send a payment, you are the owner of those funds which VoguePay holds as your agent. You will not be able to withdraw those funds or send the funds to any other User unless the initial transaction is cancelled.

By receiving payments through our Service, you appoint VoguePay to hold your funds in your account until you take further action. You may allow a third party to withdraw or transfer your funds through our Site, but they will still be subject to the terms of this Agreement. If we send you a payment notification when you receive money through VoguePay but you have not registered for the Service, you will have no claim to those funds until you register for the Service and accept the payment.

VoguePay is a payment processor that hosts, creates, maintains and provides our Service to you online. We do not have any control over the Products that are paid for with our Service. We cannot ensure that a Buyer or a Seller will complete their transaction as we are not a party to any transaction between Users. Instead, each User agrees to use the Services of their own accord. Furthermore, VoguePay reserves the right to correct any processing errors that may occur.

4.0 Account Information

4.1 Verification

VoguePay encourages Users to become verified for the security of our network. We may ask our members at anytime to become verified to comply with Anti-Money Laundering and Anti-Terrorist Financing Legislation. You agree to complete account verification procedures upon VoguePay's request. If you refuse to complete account verification, your account may be suspended regardless of any or all pending or unsettled transactions.

4.2 Receiving Funds

When you receive funds in your VoguePay account, applicable transaction fees will be deducted for that transaction.

4.3 Sending Funds

VoguePay provides a secure medium through which to make payments online. The Seller assumes all liability for the Product being sold, and understands that the Products are purchased at your own risk. If you encounter any problems with the Seller's Products, you should contact VoguePay immediately to assist you in resolving this problem following the Resolutions process outlined in section 5.0. Your report must be submitted on or before Ten (10) days after the purchase of the product or services.

4.3.1 Refusing Transactions

If you send money to another VoguePay User, they automatically accept the funds; This means a User must have to return money sent to them back to the sender by initiating another fund transfer. You agree that we will not be held responsible for damages resulting from a User's refund of a transaction.

4.5 Depositing Money

You can deposit funds by bank transfer, or debit/credit card payment, and then spend your money anywhere you like while keeping your personal information confidential.

In compliance with the Money Laundering Act of 1995 and the Terrorism (Prevention) Act 2011 and Terrorism Prevention (freezing of international terrorist funds and other related measures), regulations of 2011, certain limits will be imposed on deposits into VoguePay accounts whether verified or unverified and depending on the depositing method. To spend your money without divulging your personal information, you must select VoguePay as the transaction gateway on the checkout page.

4.5.1 Returned Deposit

If you deposit funds by bank transfer and the amount is unpaid due to non-sufficient funds, a closed account or a stopped payment, you will be liable to pay a N2000 fee per incident. Please ensure that you provide accurate data before initiating a bank transfer.

4.6 Withdrawing Money

You have the option of withdrawing to your bank account by bank transfer or bank wire or by requesting a check. 
In compliance with Anti-Money Laundering and Anti-Terrorist Funding Legislation, certain limits will be imposed on withdrawals from VoguePay accounts whether verified or unverified and depending on the withdrawal method.

4.6.1 Returned Withdrawal

If you withdraw funds by bank wire or bank transfer and the amount is returned due a closed account or unable to locate, you will be liable to pay a N2000 fee per incident as well as any other associated fees passed on by correspondent banks. Please ensure that you provide accurate data before initiating a bank transfer.

4.7 Recurring Payments

A recurring payment is a payment plan you set up with a Seller in which you allow us to process pre-authorized payments for the subscription or recurring service. If you sign up for a subscription or recurring payment, you give VoguePay the right to process your pre-authorized payments.

4.7.1 Cancelling A Recurring Payment

If you wish to cancel a subscription, you must always cancel it from your VoguePay account, or contact our customer support to cancel it for you. If you merely unsubscribe on a seller's website, your subscription will not be cancelled.

4.8 VoguePay Balance

You are not required to carry a balance in your VoguePay account. You may deposit funds at any time. However, if your VoguePay account has a negative balance, you agree to deposit funds into your account to cover the negative balance. If you do not, we reserve the right to recover the funds by any means necessary, including the involvement of a collections or law enforcement agency.

If you do hold a balance in your account, VoguePay will keep your funds separate from its corporate funds and will not use your funds for its operating expenses or any other corporate purposes. VoguePay will not voluntarily make your funds available to its creditors in the event of bankruptcy.

You further understand that you will not receive interest or other earnings on the funds that VoguePay handles as your agent and places in pooled bank accounts. In consideration for your use of the Service, you irrevocably transfer and assign to VoguePay any ownership right that you may have in any interest that may accrue on funds held in pooled bank accounts. This assignment applies only to interest earned on your funds, and nothing in this Agreement grants VoguePay any ownership right to the principal of the funds you maintain with VoguePay. In addition to or instead of earning interest on pooled bank accounts, VoguePay may receive a reduction in fees or expenses charged for banking services by the banks that hold your funds.

4.9 Credit Card Use

You can use your credit card to send direct payments to other VoguePay members or to make a payment through a Seller's website. You can also use your credit card to deposit funds, into your voguepay account. If you receive a refund and initially paid for the item with your credit card, your refund will be put in your VoguePay account.

4.10 Account Security

VoguePay implements various security measures to protect your account. With the use of your password and/or Transaction PIN, unauthorized transactions will be drastically reduced if not completely eliminated.

5.0 Resolutions

5.1 Transaction Disputes

Disputes between you and a Buyer must be reported through Customer Support at www.voguepay.com/dispute or www.voguepay.com/tickets. Claims must be filed within 2 days of the completed payment.

When handling a dispute, VoguePay will take into consideration the Seller's Terms of Service to which you agreed at the time of purchase. If the service or product has not been delivered as stated, VoguePay's policy will be used in place of the Seller's Refund Policy.

5.2 Buyer Protection Policy

When payment is made for any purchase of product and/or services by the buyer, the fund is not released to the Seller until after ten (10) days from the date the payment was made. The Buyer is expected to report any fraud within these days if there is any.

We do our best to provide protection for both the seller and the buyer alike.
Some of our dispute resolution and refund processes are summarized below. Be sure to read through before filling out our dispute resolution form.

5.2.1 Dispute resolution

When a buyer is not satisfied with a purchase from a seller, the buyer can fill out our dispute resolution form appropriately within 2 days of the completed payment. We will do our best to mediate a fair resolution between both parties.

If the resolution results in a refund for the buyer, a refund of the total money less the already deducted charges will be made to the buyer. The already deducted charges will serve as a fine for the buyer while the seller may also be fined.

However, if the resolution does not result in a refund for the buyer, the seller is fined for the resolution.

We encourage the seller and the buyer to communicate and reach a mutually agreeable resolution. This will reduce the possibility of refunds which may result in a fine for both parties.

5.2.2 Refunds

If a buyer has filled our dispute resolution form with respect to a transaction, the buyer and/or the seller may be required to provide some or all of the following:

  • Proof of physical postage/delivery, email delivery, refund and/or replaced product.
  • A copy of the original item description.
  • Return/Refund Policy applicable to the buyer at the time of purchase.
  • Terms and conditions agreed to by the buyer prior to purchase.

5.3 Seller Protection Policy

The Sellers are protected from unjust claim from any Buyer. If any issue is resolved in favor of the Seller, the buyer pays a fine and may be banned from using the services on VoguePay.

5.4 Chargebacks and Associated Fees

A chargeback occurs when the debit/credit card owner contacts their debit/credit card issuer to dispute certain charges made through their credit card or bank account, depending on payment or depositing method. Any account that receives fraudulent funds or funds that have been disputed by the debit/credit card owner will be reversed. If you receive funds in your account from the debit/credit card owner's credit/debit card or bank account and the credit/debit card or ACH transaction is reversed, you agree to hold VoguePay harmless for the reversal fee and agree to reimburse VoguePay immediately by any means necessary.

Chargebacks, returns and reversals may lead to immediate account termination and/or a N2000 penalty fee. Furthermore, in the event of a chargeback or reversal, any VoguePay fees (such as "receiving" fees) will not be refunded.

5.5 Funds Recovery

If another User disputes a payment made to your VoguePay account by chargeback, VoguePay will retrieve the funds in question. Furthermore, you authorize VoguePay to retrieve any disputed funds to recover the lost funds. If you received the amount by check, you agree to pay the negative balance in your VoguePay account. Otherwise, we will have to involve a collections agency in the funds recovery process.

5.6 Contacting the Seller

Before filing a claim, you must contact the Seller and attempt to resolve the dispute on your own. Most disputes are solved with proper communication. If you cannot resolve the dispute this way, you can submit a ticket regarding your dispute through VoguePay dispute form.

After you have opened a dispute, VoguePay will send a "Contact Request" to the Seller in hopes of resolving the issue. The Buyer must respond to this email if the issue has not been resolved, otherwise the dispute will be closed. Furthermore, it is not permitted to alter either party's email reply; all information, including emails, should be included in their original format. We ask that all email communications take place using the same email address as the one used to open the dispute.

5.7 Submitting a Dispute to The Support Center

VoguePay members may only submit one dispute per transaction. Submitting multiple disputes for a single issue may result in the closure of the dispute without resolution for the inconvenience.

If one member files a dispute against another member, VoguePay's Support Center will mediate the situation. VoguePay will only intervene if there is a clear policy violation. VoguePay's involvement and final decision protects Buyers from fraudulent Sellers and protects Sellers from false allegations of fraud.

Before filing a complaint, you should review the Seller's Refund Policy and Terms of Service. If after reviewing the Refund Policy and TOS you believe that the Seller failed to provide the Product or Service as stated and/or if you are entitled to a refund as stated by the Seller, you may file a complaint.

If your claim is justified, VoguePay will attempt to collect funds from the Seller. Both parties agree to a binding resolution rendered by VoguePay. VoguePay reserves the right to limit resolution requests if the User has not done due diligence on the Seller prior to making a purchase or sending funds. Once a dispute has been closed, it cannot be re-opened or disputed again. 

Before a Buyer can report a dispute, the following conditions must be satisfied:

You must register a VoguePay account. This is because in case of refund, the refund will be paid into your VoguePay account.

You must submit your complaint on or before 2 days after purchase of Service. Failure to do this revokes your complaint.

The complaint must include the following: Transaction Number, Email used for order, Date of the transaction, amount and payment method.

6.0 Acceptable Use Policy and Activities Not Allowed

6.1 Acceptable Use

Use of the Services is subject to this acceptable use policy ("AUP"). If not defined here, capitalized terms have the meaning stated in the applicable contract ("Agreement") between Buyer, Seller or other authorized User ("You") and VoguePay.

You agree not to use or allow third parties or Your End Users to use the Service for the following reasons:

To generate or facilitate unsolicited bulk commercial email.

To violate or encourage the violation of the legal rights of others.

For any unlawful, invasive, infringing, defamatory or fraudulent purpose.

To intentionally distribute viruses, worms, Trojan horses, corrupted files, hoaxes or other Products of a destructive or deceptive nature.

To interfere with the use of the Services or the equipment used to provide the Services, by Buyers, Sellers or other authorized Users.

To alter, disable, interfere with or circumvent any aspect of the Services.

To test or reverse-engineer the Services to find limitations, vulnerabilities or evade filtering capabilities.

To use the Services, a component of the Services or contents of password protected pages in a manner not authorized by VoguePay.

Your failure to comply with the AUP may result in suspension and/or termination of the Services pursuant to the Agreement.

No User or other third party is authorized to use bots, spiders or other automated information-gathering devices or programming routines to "mine" information displayed, register User accounts, perform transactions and any other activities VoguePay considers inappropriate.

6.2. Activities Not Allowed

The sale, solicitation, offering, exchange or service of the following:

Tobacco products and related paraphernalia.

Pharmaceutical and controlled substances.

Imitation and replica clothing and accessories.

Drugs and related paraphernalia (including but not limited to research chemicals and illicit herbal incense)

Pre-adult content, such as pictures, videos, etc..., of individuals under the age of 18.

Illegal downloads or any other goods and services infringing intellectual property rights of a third party, including streaming video/audio.

Credit card protection, credit repair services, applications for financial services or loans and/or collection services

Payment processors or any aggregation type services.

Sites that promote hatred, racism, sexism, religious persecution and/or any other prejudicial views.

Services using credit card transactions as deposits or credits, including pre-loaded debit/credit/cash/virtual cards.

Hazardous materials, combustibles and/or corrosives.

Weapons

The followingactivities are also not allowed through or in relation to VoguePay:

Money laundering.

Infringing on any third party's copyright, patent, trademark, trade secret or other property rights or rights of publicity or privacy.

Violating any law,statute, ordinance, contract or regulation, including but not limited to those governing financial services, consumer protection, unfair competition, anti-discrimination or false advertising.

Submitting altered verification documents.

Being misleading, false or inaccurate in respect to VoguePay or any other User.

Any activity similar to or consisting of giving yourself a cash advance from your credit card or bank account, factoring or helping others to do so.

Any defamatory, trade libelous, unlawfully threatening or harassing statements or information.

Spamming.

Using VoguePay as a virtual terminal.

Using currency exchangers or aggregation, unless approved by VoguePay.

Transmitting personal information of other VoguePay members to third parties.

Using the VoguePay brand to market or advertise your product(s)/service(s) in any capacity.

Threatening legal action against VoguePay and/or VoguePay employees.

Furthermore, anything that causes us to lose or become liable for, in whole or in part, the services of our sponsoring banks, Internet Service Providers or other suppliers is not allowed. If you use or attempt to use the Service for purposes other than sending and receiving payments and managing your account, including but not limited to tampering, hacking, modifying or otherwise corrupting the security or functionality of the Service, your account will be terminated and you will be subject to damages and other penalties, including criminal prosecution if necessary.

6.3 Monetary Penalties

If you are found in violation of this User Agreement and all terms herein, we reserve the right to fine you a penalty of N2000 and upwards, depending on damages and the severity of the violation and the liability you cause to VoguePay and/or our professional partners. Sites that sell banned products or services are subject to immediate account termination. We also reserve the right to freeze or forfeit funds, as well as fine the account holder and/or cancel payment without notice.

We further reserve the right to penalize any and all fraudulent or negligent Sellers for using VoguePay as Customer Support for their business, for excessive refunds, transaction disputes, chargebacks, complaints, excessive burden, creating liability and damaging our credibility among our members and professional partners. The fine for the aforementioned will be a minimum of N2000 per incident.

6.4 Use of Other Payment Processors

Members participating in high-risk programs, such as MLMs or gambling should only send/receive payments through VoguePay-to-VoguePay funds transfers/payments. If members transfer funds with debit/credit cards, any disputes resulting from that effect are void to VoguePay's resolution and risk management process.

Only VoguePay records will be used to determine the outcome of any conflict or dispute. Anti-Money Laundering guidelines and VoguePay's fraud prevention policies require that transactions disputed through VoguePay are limited to only the lesser of the funds sent or received through VoguePay. Therefore, should the case arise that disputes are initiated on ingoing or outgoing funds transfers, only the lesser amount of the two will be treated as relevant to the dispute, resolution and risk management process.

7.0 Regulated Account Types And Industries

Individuals whose businesses fall under the following "Regulated" industries ARE permitted to use our services. However, accounts and industries that fall under the "Regulated" category must use a VoguePay Business account to receive payments. Please note, some industries may be subject to higher fees than regular and other "Regulated" industries. The fees are applied at the discretion of VoguePay. Please contact Customer Support through a support ticket for more information.

7.1 Regulated Industries

DVDs

Telephone service, long distance, VoIP, PC-to-phone service or SMS

Plants, seeds and/or other horticultural products.

Seminars and event tickets

Perishable and non-prepackaged foods.

Police and other government identification and equipment

Body modification products, such as penis/breast enlargement

Mature toys, novelties, paraphernalia and related Products

Multi-Level Marketing (MLM), matrix programs or online income opportunity programs

Pay-to-click, pay-to-read and any related industries

Games of skill

Lotteries and raffles

Web-based anonymizers

7.2 Deferred Rendering of Goods and Services

Deferred Rendering of Goods and Services is defined as funds that are received from a client for services or goods to be delivered to the client at a date further than 2 calendar days after purchase. Depending on a seller's goods, services or industry, VoguePay reserves the right to temporarily sustain an amount of transactions and/or monies until confirmation is received by virtue of client confirmation or if package delivery information can be substantiated.

8.0 Closing Accounts And Limiting Account Access

This Agreement's term will begin as soon as you accept these terms and will continue as long as you use the Site or the Services and are a VoguePay member.

8.1 Activities Resulting In Account Limitation and Termination

VoguePay reserves the right to limit Account access or withdrawals and the right to terminate this Agreement with no prior notice for any of the following:

Reporting unauthorized or unusual credit card or bank account use to your issuing bank or other issuing authority, including but not limited to chargebacks.

Abusing the reversal process by a Buyer through their bank.

Consistently failing to follow the Resolutions process before filing a complaint with their issuing bank or other issuing authority.

Initiating a reversal by a Buyer through their issuing bank or other issuing authority without first following the Resolutions process.

Initiating transactions such as cash advances or assisting cash advances.

Sending unsolicited email

Using the VoguePay account to facilitate fraudulent activity.

Violating this User Agreement in any way.

Returning an incoming Electronic Funds Transfer due to insufficient funds in the bank account or an incorrect bank routing/institution and/or account number.

Using an anonymizing proxy.

Receiving excessive complaints from Buyers about your account, business or service.

Submitting altered verification documents.

8.2 Actions Resulting From Engagement In Restricted Or Prohibited Activities

If we have reason to believe or suspect that you have engaged or plan on engaging in any restricted or prohibited activities, we may take various actions to protect VoguePay, other users or you from reversals, chargebacks, claims, fees, fines, penalties and any other activity that may render VoguePay liable.

The actions we may take include but are not limited to the following:

a. We may close, suspend or limit your access to your VoguePay account (such as limiting access to any of your payment methods and/or your ability to send money, make withdrawals or remove financial Information);

b. We may contact buyers who have purchased goods or services from you, contact your bank or credit card issuer and/or warn other users, law enforcement or impacted third parties of your actions;

c. We may update inaccurate information you provided us;

d. We may refuse to provide the VoguePay services to you in the future;

e. We may hold your funds for up to 180 days if reasonably needed to protect against the risk of liability;

f. We may at any point ask for information regarding your business, reason for you sending or receiving the payment; and<

g. We may take legal action against you.

VoguePay will use reasonable efforts to investigate accounts that are subject to account access limitations and to reach a final decision on said limitations. Should your account be limited, all funds will be held for a period of time until the issue is resolved. However, it may be held for a lesser period which VoguePay will determine. By following this User Agreement, you can help protect your account from becoming limited.

9.0 Anti-Money Laundering and Counter Terrorist Financing Policy

As a worldwide financial institution, VoguePay is fully committed to conducting due diligence on our clients and ensuring that all applicable laws and regulations necessary to forestall and prevent money laundering. These include confirming the identity of our sellers and buyers by means of:

Government-issued photo ID

Proof of residential or business address

Corporate documentation

Business registration information

Any other applicable documentation

Furthermore, we reserve the right to conduct enhanced due diligence on all clients given world-wide approved risk-based policies. Please note that VoguePay reserves the right to refuse a transaction or deny operation on a client or account at any time should suspicion arise that it may be connected to money laundering, criminal activity or any other predicate offence to money laundering. VoguePay will not enter into any business arrangement with anyone or group suspected of or directly involved in money laundering, or where funds have been sources or ends of an illegal activity.

In the event that VoguePay receives, during its request for documentation, deceptive documentation, contact details, business description or other false information, VoguePay will terminate the offending account. VoguePay is legally bound to report such misdemeanors to the relevant authorities, and as such the subject, business and its owners may be the subject to a criminal investigation.

9.1 VoguePay Counter-Terrorism Financing Statement (CTF)

As part of the information that is collected during our verification and AML procedures, VoguePay conducts verification through world-wide databases. At the forefront, they will include compliance with EFCC (economic & financial crime commission) requirements, as contained in the Economic and Financial Commission Act 2004, global sanctions reports and government watch lists and screening processes. At any time, due to a requirement to satisfy any of the above verification methods, a client, business entity or any of the business entity owners or affiliates may be asked a specific document or piece of information to confirm their identity or provide additional information regarding any transaction, operations or even business dealings with certain individuals, institutions and dealings in geographical locations.

Should a situation arise where the nature of the business, geographical specific regulations or account activity fall in the scope of non-compliance in any applicable law or regulation, VoguePay will inform the client, business unit or any of the business owners or affiliates of the event and occurrence. For such instances, pre-verification and enhanced due diligence will be required prior to regaining active account status. In cases, where compliance is not achieved pursuing remediation measures, VoguePay will see fit to terminate the account and will report the event and surroundings to the applicable law enforcement and regulatory authorities.

10.0 Additional Terms

VoguePay's failure to enforce any provision of these terms is not an allowance of such provisions. It is VoguePay's right to act with respect to subsequent or similar breaches and enforce such provisions.

This Agreement is governed by and interpreted under the laws of the Federal Republic of Nigeria as such laws are applied to agreements entered into and to be performed entirely within the Federal Republic of Nigeria.

The parties hereto agree that this agreement is drafted and executed in the English language.

11.0 Glossary

Account Limitation: An account status in which a User has limited or no access to the Services pending an investigation. This status can be either temporary or permanent depending on the individual circumstances.

Attestation: A form certifying a person's identity by signature or oath in an official capacity.

Bank Deposit Code: A Bank Deposit Code is created once a member completes a bank deposit. Bank Deposit Codes are issued to all bank accounts outside of United States and Canada. This code is required when the member visits their bank and must be included in the "Details" or "Reference" area of the bank transfer. No information other than the Bank Deposit Code should be entered in the "Details" or "Reference" area of the bank transaction. A missing Bank Deposit Code may cause delays in completing the transaction.

BIC: Bank Identification Code.

Business Tools: A set of functions available to account holders, including Instant Payment Notifications, "Buy/Subscribe Now" buttons and numerous email associations.

"Buy Now" Button: A button a seller can integrate into their website allowing their customers to sign up for a VoguePay account or make an instant payment.

Chargeback: A function a VoguePay member may initiate through their credit card issuer to reverse a credit card payment. This action will result in an account suspension as we are charged for every chargeback initiated by a member.

CVC: See CVV.

CVV: Credit Card Verification Value; A 3 - 4 digit code on either the front or back of your credit card. This code is an extra layer of security necessary for "Card-Not-Present" transactions.

CSV: Comma-Separated Values; A file format necessary for data import and/or export to and from VoguePay.

DBA: Doing Business As; A statement permitting a Seller to operate a VoguePay account under a company name.

Deposit: A function with which a VoguePay member can deposit money into their account by bank transfer, bank wire, money order, certified check or cashier's check.

Due Diligence: Time and effort all members are expected to spend on researching the reliability, credibility and ethics of individuals and/or businesses with which they plan on doing business. Members should contact these people or companies to establish a rapport and/or read blogs, reviews, brochures and other material and use their best judgment before doing business with them.

E-Commerce: A general business category encompassing most internet-based financial and commercial services.

EFT: Electronic Funds Transfer; bank transfers and bank wires.

Email Validation: Before a member can login to their VoguePay account, they must click the link in the validation email.

NUBAN: Nigerian Uniform Bank Account Number

IPN: Instant Payment Notification.

Mass Pay: A "Send Money" feature that can be used to pay several people or a large group at one time. This is a fast and effective tool for members who make weekly pay-outs such as commissions or referral payments.

Member: An VoguePay customer with an active VoguePay account.

MLM: Multi-Level Marketing.

Password: An alpha-numeric code each VoguePay member will create to log into their account.

Payment Processing: A general business category including third-party electronic payment solutions.

Proxy Server: In computer networks, a proxy server is a server (a computer system or an application program) that services the requests of its clients by forwarding requests to other servers. Members who try to access their VoguePay account through a proxy server will be denied access. They must contact their Internet Service Provider to disable their proxy server.

Transaction/Reference Number: A 15 digit alpha-numeric code assigned to every transaction. The member can find their reference number by clicking on the status of the transaction in their VoguePay account.

Regulated: This applies to business types that carry extra risk resulting in a higher possibility of chargebacks. Also applies to an account status in which a User's access to the Services are limited.

Screen Shot: A picture of a computer screen. A screen shot of a bank transaction is usually necessary when an international member's deposit has not been credited to their VoguePay account. The "Prt Scr" button on the keyboard will take a screen shot. You can paste the screen shot in the "Paint" program by selecting "Paste" under the "Edit" button.

Security Code: Our security code provides a way of authenticating that the data was sent by VoguePay. You create your security code and it is immediately encrypted so only you know the code you entered. Your security code will not change unless you enter a new code to be encrypted. You can make this change at any time by going to IPN Setup.

Send Money: A function that enables a member to send funds to another member using only their email. If the receiver does not have an VoguePay account, they will be invited by email to create one.

"Subscribe Now" Button: A function a seller can integrate into their website which allows their customers to sign up for a paid subscription through us.

Transaction PIN: A numeric code a member creates opening an VoguePay account. Much like a debit/credit card PIN, a member will not be able to complete a transaction without entering this PIN correctly. Members may also have to answer two security questions when creating their PIN and will have to answer those questions correctly to reset it. The answers to the security questions are case-sensitive.

User: A person who uses our services; same as "Member". Generally, this term refers to someone who "uses" computers and the Internet.

Verification: Account verification identifies the member as part of a Know Your Customer (KYC) policy. Verification is important for the VoguePay network as it enhances security and helps to protect our members against fraud.

Withdraw: A function in which an VoguePay member can transfer funds out of their VoguePay account by bank transfer, bank wire or check.