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SeaMoney SFinancing-i Terms of Service
1. INTRODUCTION
1.1 Welcome to the SFinancing-i (the "Service" or “SFinancing-i”) by SeaMoney Capital Malaysia Sdn. Bhd. Please read the following Terms of Service carefully before using, accepting and/or activating the Service ("Account"), so that you are aware of your legal rights and obligations with respect to SeaMoney Capital Malaysia Sdn. Bhd. and its affiliates and subsidiaries (individually and collectively, “SeaMoney”, "Company", "we", "us" or "our").
1.2 By using the Service or opening an Account, you signify your irrevocable acceptance of these Terms of Service. If you do not agree to these terms, please do not use the Service. If you are: (a) below eighteen (18) years old or the relevant “age of majority” where you live, or if you do not know whether you have reached the "age of majority" where you live; or (b) above sixty-five (65) years old, please do not use the Service or create an Account.
1.3 We reserve the right to change, modify, suspend or discontinue all or any part of the Service at any time or upon notice as required by local laws. Your continued use of the Service or your registration of an Account, shall be deemed as an irrevocable acceptance of these Terms of Service and any such revisions. We reserve the right at all times, at our sole discretion, to change, modify, suspend or discontinue any portion of the Service, including payment methods, temporarily or permanently, without notice to you or giving any reason. We may release certain Services or their features in a beta version, which may not work correctly or in the same way the final version may work, and we shall not be held liable in such instances. We may also impose limits on certain features or restrict your access to parts of, or the entire, Shopee Platform or Service in our sole discretion and without notice or liability. We reserve the right to refuse to provide you access to the Shopee Platform or Service or to allow you to open an Account for any reason.
1.4 The Service is offered to you by us through the Shopee and/or its Affiliate’s platform(s) (“Shopee Platform”)
2. ACCEPTANCE OF THE SERVICE
2.1 By using the Service, you acknowledge and agree to:
(a) request SeaMoney to purchase commodities compliant with Shariah principles to be determined by SeaMoney (“Commodities”) through the use of commodity trading platform recognized by SeaMoney’s Shariah Adviser;
(b) purchase such Commodities from SeaMoney on deferred payment terms for specific period and in the amount specified in the Commodity Murabahah Financing Agreement (“Financing Arrangement”);
(c) to be bound by the terms of the Commodity Murabahah Financing Agreement and these Terms of Service.
2.2 You further agree to appoint SeaMoney as your agent in facilitating the purchase and sale of the Commodities in respect of the Financing Arrangement (“Agent” or “Wakil”) and to any fee or charges payable thereto (“Wakalah Fee”).
3. USE OF SFinancing-i
3.1 Service Limitations - If you apply for the Service, SeaMoney may (at its sole and absolute discretion) grant you a revolving financing limit, which may be reviewed and adjusted periodically at our sole discretion (“Financing Limit”).
3.2 Financing Limit – SeaMoney may impose minimum and/or maximum Financing Limits as may be specified in our product articles and FAQs at help.shopee.com.my.
3.3 Purpose of the Financing Arrangement – You acknowledge and agree (i) to apply for SFinancing-i for personal use only and (ii) not to use SFinancing-i for purposes and/or activities that are not aligned with Shariah principles.
4. ACTIVATION OF THE SERVICE
4.1 Upon receipt of an application for the Service, we may conduct due diligence on you. As part of this process:
(a) you consent to provide your personal information such as name, identification card number, mailing address, phone number(s), email address, contact preferences details, payslip, bank account statements and any other information required by us (“Due Diligence Information”);
(b) we may conduct or procure any relevant authorities, private companies, or individuals to ascertain, verify and confirm your information, including but not limited to legal or credit information as per the Credit Reporting Agencies Act 2010, Central Credit Reference Information System (CCRIS), identity, background, underwriting, risk, compliance and any other checks relevant to the Services (collectively, “Credit Checks”);
(c) you consent and will procure the consent of each of your related parties (including but not limited to your directors, partners, shareholders, employees, representatives, agents, beneficial owners, guarantors and authorised signatories) for us or any credit reporting agencies to obtain and process the Due Diligence Information for the purposes of the Credit Checks; and
(d) you agree and understand any of your information or conduct of your Account may be provided to credit rating agencies, who may in turn share such information to subscribers of their services.
4.2 By using the Service or agreeing to these Terms of Service, you consent to our collection, use, disclosure and/or processing of your personal information as described in SeaMoney’s Privacy Policy.
5. FINANCING REQUEST
5.1 You may request for disbursement of a financing amount subject to the Financing Limit granted to you pursuant to Section 3.2 above (each, a “Financing Request”). For the avoidance of doubt, you may request to make multiple Financing Request so long as the aggregate Financing Arrangement does not exceed your Financing Limit at any one time and you are not overdue on any of your Monthly Statement. You are required to enter into a Commodity Murabahah Financing Agreement of the same date for each Financing Request.
5.2 You agree that the approved financing amount may be disbursed by SeaMoney to a payment channel prescribed by SeaMoney, or where applicable, to a payment channel of your option, and the amount disbursed will be the financing amount less the Wakalah Fee, stamp duty and any additional fees referred to in Clause 7 below.
6. PAYMENT
6.1 Instalment Payment Plan
(a) We shall provide you with a list of instalment plans with differing tenures which you can choose from. The monthly payment for the chosen instalment payment plan shall be due and payable by the due date provided in the Monthly Statement (as defined below).
(b) You acknowledge and agree that any payment made by you in excess of the monthly payment due to us shall be regarded as part payment for the following month’s payment.
(c) We may, subject to our sole discretion, approve any requests for an early settlement of the instalment plan.
6.2 Once you have chosen the instalment payment plan, you are bound by the terms of the instalment payment plan provided herein and any other terms and conditions as may be advised by SeaMoney from time to time.
6.3 We shall provide you with a monthly statement for every billing cycle with the details of the monthly payment for your chosen instalment payment plan (“Monthly Statement”) on the Shopee Platform.
6.4 You shall pay to SeaMoney the amounts set out in the Monthly Statement using any of the prescribed payment methods by 23:59 on the due date of the relevant Monthly Statement.
7. PROFIT RATE AND OTHER FEES
7.1 We may charge you profit for each Financing Arrangement provided pursuant to the Service, as may be specified in the Commodity Murabahah Financing Agreement. We reserve the right to revise the applicable profit rate applicable to new Financing Arrangement. The applicable profit for each relevant Financing Arrangement shall be calculated from the date of the relevant Commodity Murabahah Financing Agreement.
7.2 We reserve the right to impose any other additional fees from time to time on new Financing Arrangement, and such fees may relate to the stamp duty payable in respect of the Commodity Murabahah Financing Agreement and fees incurred in connection with each Financing Request.
7.3 We shall charge you a Wakalah Fee for each Financing Request pursuant to the Service, which shall be communicated to you within the Shopee Platform and detailed in the Commodity Murabahah Financing Agreement.
7.4 Any changes to the profit rate, charges, fees or introduction of other additional fees referred to in this Clause 7 shall be communicated to you prior to the effective date of such changes.
8. LATE PAYMENT CHARGE
8.1 We may charge you a late payment charge if you fail to repay your Monthly Statement before the due date regardless of whether the amount is in respect of the principal financing amount or the applicable profit (“Late Payment Charge”). The Late Payment Charge shall be specified in the relevant Commodity Murabahah Financing Agreement and is calculated daily from the date of default in payment until that sum is paid. SeaMoney reserves the right to revise the Late Payment Charge from time to time on new Financing Arrangement.
8.2 In addition to the above, you acknowledge and agree that SeaMoney and/or its Affiliates has the right to limit, suspend, or freeze your Account and/or your access to any of SeaMoney and/or its Affiliates other products and services if you failed to pay any outstanding amounts owed under the Service.
8.3 In the event of any delay or failure to make payment within the duration given, you acknowledge and agree that SeaMoney has the right to collect the payment along with the Late Payment Charge and any other charges from you, either through a third party, through legal proceedings as prescribed in these Terms of Service and/or the relevant authorities to the extent permitted by applicable law.
8.4 For the avoidance of doubt, the Late Payment Charge consists of ta’widh (compensation charge) of up to one percent (1%) per annum on the overdue instalments and gharamah (penalty charge) for the remaining percent (%) of the Late Payment Charge on the overdue instalments (gharamah shall be channeled to charity). The combined rate of both ta’widh and gharamah imposed on the overdue instalments shall not be compounded on the total outstanding instalment and shall not exceed 100% of the total outstanding principal amount.
8.5 You agree and acknowledge that any early partial or full payment of the total outstanding instalment shall not entitle you to any ibra’ (rebate) or discount on the total outstanding instalment or any related fees and charges due to SeaMoney.
9. PAYMENT METHOD
9.1 You may pay to us the amount set out in the Monthly Statements using any of the following payment channels:
(a) ShopeePay e-wallet; or
(b) Online Banking.
10. DISCLAIMERS
10.1 The Services are provided "as is" and without any warranties, claims or representations made by us of any kind either expressed, implied or statutory with respect to the service, including, without limitation, warranties of quality, performance, non-infringement, merchantability, or fitness for a particular purpose, nor are there any warranties created by course of dealing, course of performance or trade usage. without limiting the foregoing and to the maximum extent permitted by applicable law, we do not warrant that the service, the Shopee platform or the functions contained therein will be available, accessible, uninterrupted, timely, secure, accurate, complete or error-free, that defects, if any, will be corrected, or that this site and/or the server that makes the same available are free of viruses, clocks, timers, counters, worms, software locks, drop dead devices, trojan-horses, routings, trap doors, time bombs or any other harmful codes, instructions, programs or components.
10.2 You acknowledge that the entire risk arising out of the use or performance of the site and/or the services remains with you to the maximum extent permitted by applicable law.
10.3 We do not have any control over and, to the maximum extent permitted by applicable law, do not guarantee or accept any responsibility for: (a) the fitness for purpose, existence, quality, safety or legality of items available via the services or any goods/services purchase on the Shopee platform; or (b) the ability of sellers to sell items or of buyers to pay for items. If there is a dispute involving one or more users, such users agree to resolve such dispute between themselves directly and, to the maximum extent permitted by applicable law, release us from any and all claims, demands and damages arising out of or in connection with any such dispute.
11. EXCLUSIONS AND LIMITATIONS OF LIABILITY
11.1 To the maximum extent permitted by applicable law, in no event shall we be liable whether in contract, warranty, tort (including, without limitation, negligence (whether active, passive or imputed), product liability, strict liability or other theory), or other cause of action at law, in equity, by statute or otherwise, for:
(a) loss of use;
(b) loss of profits;
(c) loss of revenues;
(d) loss of data;
(e) loss of goodwill;
(f) failure to realise anticipated savings, in each case whether direct or indirect; or
(g) any indirect, incidental, special or consequential damages, arising out of or in connection with the use or inability to use this site or the Services, including, without limitation, any damages resulting therefrom, even if we have been advised of the possibility of such damages.
11.2 You acknowledge and agree that your only right with respect to any problems or dissatisfaction with the Services is to request for termination of your Account and/or discontinue any use of the Service.
11.3 If, notwithstanding the previous sections, we are found by a court of competent jurisdiction to be liable (including for gross negligence), then, to the maximum extent permitted by applicable law, our liability to you or to any third party is limited to the lesser of: (a) any amounts due and payable by you pursuant to your account related to the particular claim; or (b) three hundred Ringgit(RM300).
11.4 Nothing in these terms of service shall limit or exclude any liability for death or personal injury caused by our negligence, for fraud or for any other liability on our part that cannot be lawfully limited and/or excluded.
12. REPRESENTATIONS AND WARRANTIES
12.1 You represent and warrant that:
(a) you possess the legal capacity, right and ability to enter into these Terms of Service and to comply with its terms;
(b) you are at least eighteen (18) years and above, and not above sixty-five (65) years old; and
(c) you will use the Service for lawful purposes only and in accordance with these Terms of Service and all applicable laws, rules, codes, directives, guidelines, policies and regulations.
13. FRAUDULENT OR SUSPICIOUS ACTIVITY
13.1 If we, in our sole discretion, believe that you may have engaged in any potentially fraudulent or suspicious activity and/or transactions, we may take various actions to protect us, other Buyers or Sellers, other third parties and/or you from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liability. The actions we may take, include, but are not limited to, the following:
(a) We may close, suspend, or limit your access to your Account or the Service, and/or suspend the processing of any transaction;
(b) We may hold, apply or transfer the funds in your Account as required by any judgments or orders which affect you or your Account, including judgments or orders issued by a competent court or elsewhere and directed to us;
(c) We may refuse to provide the Service to you now and in the future; and/or
(d) We may hold your funds for a period of time reasonably needed to protect against the risk of liability to us or a third party, or if we believe that you may be engaging in potentially fraudulent or suspicious activity and/or transactions.
13.2 For the purposes of this Section:
"Chargeback" means a request that a Buyer files directly with his or her debit or credit card company or debit or credit card issuing bank to invalidate a payment.
"Claim" means a challenge to a payment that a Buyer or Seller files directly with us.
"Reversal" means the reversal of a payment by us because (a) it is invalidated by the sender's bank, (b) it was sent to you in error by us, (c) the sender of the payment did not have authorization to send the payment (for example: the sender used a stolen credit card), (d) you received the payment for activities that violated these Terms of Service or any of our other policies, or (e) we decided a Claim against you.
14. INDEMNITY
You agree to indemnify, defend and hold harmless us, and our shareholders, directors, officers, agents, co-branders or other partners, and employees (collectively, the "Indemnified Parties") from and against any and all claims, actions, proceedings, and suits and all related liabilities, damages, settlements, penalties, fines, costs and expenses (including, without limitation, any other dispute resolution expenses) incurred by any Indemnified Party arising out of or relating to: (a) any transaction made on the Platform; or (b) any dispute in relation to such transaction; (c) the hosting, operation, management and/or administration of the Service by or on behalf of us; (d) your violation or breach of any term of these Terms of Service or any policy or guidelines referenced herein; (e) your use or misuse of the Service; or (f) your breach of any law or any rights of a third party.
15. SEVERABILITY
If any provision of these Terms of Service shall be deemed unlawful, void, or for any reason unenforceable under the law of any jurisdiction, then that provision shall be deemed severable from these terms and conditions and shall not affect the validity and enforceability of any remaining provisions in such jurisdiction nor the validity and enforceability of the provision in question under the law of any other jurisdiction.
16. GOVERNING LAW
These Terms of Service shall be governed by and construed in accordance with the laws of Malaysia without regard to its conflict of law rules. The United Nations Convention on Contracts for the International Sale of Goods and the Uniform Computer Information Transaction Act, to the extent applicable, are expressly disclaimed. Unless otherwise required by applicable laws or as prescribed hereinafter, any dispute, controversy, claim or difference of any kind whatsoever shall arising out of or relating to these Terms of Service against or relating to us or any Indemnified Party under these Terms of Service shall be referred to and finally resolved by arbitration in Malaysia in accordance with the Arbitration Rules of the Asian International Arbitration Centre (“AIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this Section. There will be one (1) arbitrator and the language of the arbitration shall be English. Notwithstanding this Clause 16 and for the exclusive benefit of SeaMoney, you agree that SeaMoney shall have the exclusive right to initiate legal proceedings against you before a court in Malaysia, to recover any unpaid monies due and owing by you to SeaMoney and/or to enforce any of SeaMoney’s rights under the Commodity Murabahah Financing Agreement or otherwise, without reference to arbitration.
17. GENERAL PROVISIONS
17.1 SeaMoney reserves all rights not expressly granted herein.
17.2 SeaMoney may modify these Terms of Service at any time by posting the revised Terms of Service on the Shopee Platform. Your continued use of the Shopee Platform after such changes have been posted shall constitute your acceptance of such revised Terms of Service.
17.3 You may not assign, sublicense or transfer any rights granted to you hereunder or subcontract any of your obligations.
17.4 Nothing in these Terms of Service shall constitute a partnership, joint venture or principal-agent relationship between you and SeaMoney, nor does it authorise you to incur any costs or liabilities on SeaMoney’s behalf.
17.5 The failure of SeaMoney at any time to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same unless the same is waived in writing.
17.6 These Terms of Service are solely for your and our benefit and are not for the benefit of any other person or entity, except for us, our respective successors and assigns.
17.7 The terms set forth in these Terms of Service and any agreements and policies included or referred to in these Terms of Service constitute the entire agreement and understanding of the parties with respect to the Service and supersede any previous agreement or understanding between the parties in relation to such subject matter. The parties also hereby exclude all implied terms in fact. In entering into the agreement formed by these Terms of Service, the parties have not relied on any statement, representation, warranty, understanding, undertaking, promise or assurance of any person other than as expressly set out in these Terms of Service. Each party irrevocably and unconditionally waives all claims, rights and remedies which but for this Section it might otherwise have had in relation to any of the foregoing. These Terms of Service may not be contradicted, explained or supplemented by evidence of any prior agreement, any contemporaneous oral agreement or any consistent additional terms.
17.8 You agree to comply with all applicable laws, statutes, regulations and codes relating to anti-bribery and corruption including without limitation, the Malaysia Anti-Corruption Commission Act 2009, the UK Bribery Act, the US Foreign Corrupt Practices Act and the Singapore Prevention of Corruption Act and where applicable, confirm that you have in place all policies and procedures needed to ensure compliance with such requirements.
17.9 If you have any questions or concerns about these Terms of Service or any issues raised in these Terms of Service, please contact us via the channels at the bottom of this page.
17.10 Legal Notices: Please send all legal notices to legal.my@shopee.com and attention it to the “General Counsel”.
17.11 I have read this agreement and agree to all of the provisions contained above and any revision the same hereafter. By ticking the relevant box, I understand that I am creating a digital signature, which I intend to have the same force and effect as if I had signed my name manually.
Last Updated: 6 November 2024
1.1 Welcome to the SFinancing-i (the "Service" or “SFinancing-i”) by SeaMoney Capital Malaysia Sdn. Bhd. Please read the following Terms of Service carefully before using, accepting and/or activating the Service ("Account"), so that you are aware of your legal rights and obligations with respect to SeaMoney Capital Malaysia Sdn. Bhd. and its affiliates and subsidiaries (individually and collectively, “SeaMoney”, "Company", "we", "us" or "our").
1.2 By using the Service or opening an Account, you signify your irrevocable acceptance of these Terms of Service. If you do not agree to these terms, please do not use the Service. If you are: (a) below eighteen (18) years old or the relevant “age of majority” where you live, or if you do not know whether you have reached the "age of majority" where you live; or (b) above sixty-five (65) years old, please do not use the Service or create an Account.
1.3 We reserve the right to change, modify, suspend or discontinue all or any part of the Service at any time or upon notice as required by local laws. Your continued use of the Service or your registration of an Account, shall be deemed as an irrevocable acceptance of these Terms of Service and any such revisions. We reserve the right at all times, at our sole discretion, to change, modify, suspend or discontinue any portion of the Service, including payment methods, temporarily or permanently, without notice to you or giving any reason. We may release certain Services or their features in a beta version, which may not work correctly or in the same way the final version may work, and we shall not be held liable in such instances. We may also impose limits on certain features or restrict your access to parts of, or the entire, Shopee Platform or Service in our sole discretion and without notice or liability. We reserve the right to refuse to provide you access to the Shopee Platform or Service or to allow you to open an Account for any reason.
1.4 The Service is offered to you by us through the Shopee and/or its Affiliate’s platform(s) (“Shopee Platform”)
2. ACCEPTANCE OF THE SERVICE
2.1 By using the Service, you acknowledge and agree to:
(a) request SeaMoney to purchase commodities compliant with Shariah principles to be determined by SeaMoney (“Commodities”) through the use of commodity trading platform recognized by SeaMoney’s Shariah Adviser;
(b) purchase such Commodities from SeaMoney on deferred payment terms for specific period and in the amount specified in the Commodity Murabahah Financing Agreement (“Financing Arrangement”);
(c) to be bound by the terms of the Commodity Murabahah Financing Agreement and these Terms of Service.
2.2 You further agree to appoint SeaMoney as your agent in facilitating the purchase and sale of the Commodities in respect of the Financing Arrangement (“Agent” or “Wakil”) and to any fee or charges payable thereto (“Wakalah Fee”).
3. USE OF SFinancing-i
3.1 Service Limitations - If you apply for the Service, SeaMoney may (at its sole and absolute discretion) grant you a revolving financing limit, which may be reviewed and adjusted periodically at our sole discretion (“Financing Limit”).
3.2 Financing Limit – SeaMoney may impose minimum and/or maximum Financing Limits as may be specified in our product articles and FAQs at help.shopee.com.my.
3.3 Purpose of the Financing Arrangement – You acknowledge and agree (i) to apply for SFinancing-i for personal use only and (ii) not to use SFinancing-i for purposes and/or activities that are not aligned with Shariah principles.
4. ACTIVATION OF THE SERVICE
4.1 Upon receipt of an application for the Service, we may conduct due diligence on you. As part of this process:
(a) you consent to provide your personal information such as name, identification card number, mailing address, phone number(s), email address, contact preferences details, payslip, bank account statements and any other information required by us (“Due Diligence Information”);
(b) we may conduct or procure any relevant authorities, private companies, or individuals to ascertain, verify and confirm your information, including but not limited to legal or credit information as per the Credit Reporting Agencies Act 2010, Central Credit Reference Information System (CCRIS), identity, background, underwriting, risk, compliance and any other checks relevant to the Services (collectively, “Credit Checks”);
(c) you consent and will procure the consent of each of your related parties (including but not limited to your directors, partners, shareholders, employees, representatives, agents, beneficial owners, guarantors and authorised signatories) for us or any credit reporting agencies to obtain and process the Due Diligence Information for the purposes of the Credit Checks; and
(d) you agree and understand any of your information or conduct of your Account may be provided to credit rating agencies, who may in turn share such information to subscribers of their services.
4.2 By using the Service or agreeing to these Terms of Service, you consent to our collection, use, disclosure and/or processing of your personal information as described in SeaMoney’s Privacy Policy.
5. FINANCING REQUEST
5.1 You may request for disbursement of a financing amount subject to the Financing Limit granted to you pursuant to Section 3.2 above (each, a “Financing Request”). For the avoidance of doubt, you may request to make multiple Financing Request so long as the aggregate Financing Arrangement does not exceed your Financing Limit at any one time and you are not overdue on any of your Monthly Statement. You are required to enter into a Commodity Murabahah Financing Agreement of the same date for each Financing Request.
5.2 You agree that the approved financing amount may be disbursed by SeaMoney to a payment channel prescribed by SeaMoney, or where applicable, to a payment channel of your option, and the amount disbursed will be the financing amount less the Wakalah Fee, stamp duty and any additional fees referred to in Clause 7 below.
6. PAYMENT
6.1 Instalment Payment Plan
(a) We shall provide you with a list of instalment plans with differing tenures which you can choose from. The monthly payment for the chosen instalment payment plan shall be due and payable by the due date provided in the Monthly Statement (as defined below).
(b) You acknowledge and agree that any payment made by you in excess of the monthly payment due to us shall be regarded as part payment for the following month’s payment.
(c) We may, subject to our sole discretion, approve any requests for an early settlement of the instalment plan.
6.2 Once you have chosen the instalment payment plan, you are bound by the terms of the instalment payment plan provided herein and any other terms and conditions as may be advised by SeaMoney from time to time.
6.3 We shall provide you with a monthly statement for every billing cycle with the details of the monthly payment for your chosen instalment payment plan (“Monthly Statement”) on the Shopee Platform.
6.4 You shall pay to SeaMoney the amounts set out in the Monthly Statement using any of the prescribed payment methods by 23:59 on the due date of the relevant Monthly Statement.
7. PROFIT RATE AND OTHER FEES
7.1 We may charge you profit for each Financing Arrangement provided pursuant to the Service, as may be specified in the Commodity Murabahah Financing Agreement. We reserve the right to revise the applicable profit rate applicable to new Financing Arrangement. The applicable profit for each relevant Financing Arrangement shall be calculated from the date of the relevant Commodity Murabahah Financing Agreement.
7.2 We reserve the right to impose any other additional fees from time to time on new Financing Arrangement, and such fees may relate to the stamp duty payable in respect of the Commodity Murabahah Financing Agreement and fees incurred in connection with each Financing Request.
7.3 We shall charge you a Wakalah Fee for each Financing Request pursuant to the Service, which shall be communicated to you within the Shopee Platform and detailed in the Commodity Murabahah Financing Agreement.
7.4 Any changes to the profit rate, charges, fees or introduction of other additional fees referred to in this Clause 7 shall be communicated to you prior to the effective date of such changes.
8. LATE PAYMENT CHARGE
8.1 We may charge you a late payment charge if you fail to repay your Monthly Statement before the due date regardless of whether the amount is in respect of the principal financing amount or the applicable profit (“Late Payment Charge”). The Late Payment Charge shall be specified in the relevant Commodity Murabahah Financing Agreement and is calculated daily from the date of default in payment until that sum is paid. SeaMoney reserves the right to revise the Late Payment Charge from time to time on new Financing Arrangement.
8.2 In addition to the above, you acknowledge and agree that SeaMoney and/or its Affiliates has the right to limit, suspend, or freeze your Account and/or your access to any of SeaMoney and/or its Affiliates other products and services if you failed to pay any outstanding amounts owed under the Service.
8.3 In the event of any delay or failure to make payment within the duration given, you acknowledge and agree that SeaMoney has the right to collect the payment along with the Late Payment Charge and any other charges from you, either through a third party, through legal proceedings as prescribed in these Terms of Service and/or the relevant authorities to the extent permitted by applicable law.
8.4 For the avoidance of doubt, the Late Payment Charge consists of ta’widh (compensation charge) of up to one percent (1%) per annum on the overdue instalments and gharamah (penalty charge) for the remaining percent (%) of the Late Payment Charge on the overdue instalments (gharamah shall be channeled to charity). The combined rate of both ta’widh and gharamah imposed on the overdue instalments shall not be compounded on the total outstanding instalment and shall not exceed 100% of the total outstanding principal amount.
8.5 You agree and acknowledge that any early partial or full payment of the total outstanding instalment shall not entitle you to any ibra’ (rebate) or discount on the total outstanding instalment or any related fees and charges due to SeaMoney.
9. PAYMENT METHOD
9.1 You may pay to us the amount set out in the Monthly Statements using any of the following payment channels:
(a) ShopeePay e-wallet; or
(b) Online Banking.
10. DISCLAIMERS
10.1 The Services are provided "as is" and without any warranties, claims or representations made by us of any kind either expressed, implied or statutory with respect to the service, including, without limitation, warranties of quality, performance, non-infringement, merchantability, or fitness for a particular purpose, nor are there any warranties created by course of dealing, course of performance or trade usage. without limiting the foregoing and to the maximum extent permitted by applicable law, we do not warrant that the service, the Shopee platform or the functions contained therein will be available, accessible, uninterrupted, timely, secure, accurate, complete or error-free, that defects, if any, will be corrected, or that this site and/or the server that makes the same available are free of viruses, clocks, timers, counters, worms, software locks, drop dead devices, trojan-horses, routings, trap doors, time bombs or any other harmful codes, instructions, programs or components.
10.2 You acknowledge that the entire risk arising out of the use or performance of the site and/or the services remains with you to the maximum extent permitted by applicable law.
10.3 We do not have any control over and, to the maximum extent permitted by applicable law, do not guarantee or accept any responsibility for: (a) the fitness for purpose, existence, quality, safety or legality of items available via the services or any goods/services purchase on the Shopee platform; or (b) the ability of sellers to sell items or of buyers to pay for items. If there is a dispute involving one or more users, such users agree to resolve such dispute between themselves directly and, to the maximum extent permitted by applicable law, release us from any and all claims, demands and damages arising out of or in connection with any such dispute.
11. EXCLUSIONS AND LIMITATIONS OF LIABILITY
11.1 To the maximum extent permitted by applicable law, in no event shall we be liable whether in contract, warranty, tort (including, without limitation, negligence (whether active, passive or imputed), product liability, strict liability or other theory), or other cause of action at law, in equity, by statute or otherwise, for:
(a) loss of use;
(b) loss of profits;
(c) loss of revenues;
(d) loss of data;
(e) loss of goodwill;
(f) failure to realise anticipated savings, in each case whether direct or indirect; or
(g) any indirect, incidental, special or consequential damages, arising out of or in connection with the use or inability to use this site or the Services, including, without limitation, any damages resulting therefrom, even if we have been advised of the possibility of such damages.
11.2 You acknowledge and agree that your only right with respect to any problems or dissatisfaction with the Services is to request for termination of your Account and/or discontinue any use of the Service.
11.3 If, notwithstanding the previous sections, we are found by a court of competent jurisdiction to be liable (including for gross negligence), then, to the maximum extent permitted by applicable law, our liability to you or to any third party is limited to the lesser of: (a) any amounts due and payable by you pursuant to your account related to the particular claim; or (b) three hundred Ringgit(RM300).
11.4 Nothing in these terms of service shall limit or exclude any liability for death or personal injury caused by our negligence, for fraud or for any other liability on our part that cannot be lawfully limited and/or excluded.
12. REPRESENTATIONS AND WARRANTIES
12.1 You represent and warrant that:
(a) you possess the legal capacity, right and ability to enter into these Terms of Service and to comply with its terms;
(b) you are at least eighteen (18) years and above, and not above sixty-five (65) years old; and
(c) you will use the Service for lawful purposes only and in accordance with these Terms of Service and all applicable laws, rules, codes, directives, guidelines, policies and regulations.
13. FRAUDULENT OR SUSPICIOUS ACTIVITY
13.1 If we, in our sole discretion, believe that you may have engaged in any potentially fraudulent or suspicious activity and/or transactions, we may take various actions to protect us, other Buyers or Sellers, other third parties and/or you from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liability. The actions we may take, include, but are not limited to, the following:
(a) We may close, suspend, or limit your access to your Account or the Service, and/or suspend the processing of any transaction;
(b) We may hold, apply or transfer the funds in your Account as required by any judgments or orders which affect you or your Account, including judgments or orders issued by a competent court or elsewhere and directed to us;
(c) We may refuse to provide the Service to you now and in the future; and/or
(d) We may hold your funds for a period of time reasonably needed to protect against the risk of liability to us or a third party, or if we believe that you may be engaging in potentially fraudulent or suspicious activity and/or transactions.
13.2 For the purposes of this Section:
"Chargeback" means a request that a Buyer files directly with his or her debit or credit card company or debit or credit card issuing bank to invalidate a payment.
"Claim" means a challenge to a payment that a Buyer or Seller files directly with us.
"Reversal" means the reversal of a payment by us because (a) it is invalidated by the sender's bank, (b) it was sent to you in error by us, (c) the sender of the payment did not have authorization to send the payment (for example: the sender used a stolen credit card), (d) you received the payment for activities that violated these Terms of Service or any of our other policies, or (e) we decided a Claim against you.
14. INDEMNITY
You agree to indemnify, defend and hold harmless us, and our shareholders, directors, officers, agents, co-branders or other partners, and employees (collectively, the "Indemnified Parties") from and against any and all claims, actions, proceedings, and suits and all related liabilities, damages, settlements, penalties, fines, costs and expenses (including, without limitation, any other dispute resolution expenses) incurred by any Indemnified Party arising out of or relating to: (a) any transaction made on the Platform; or (b) any dispute in relation to such transaction; (c) the hosting, operation, management and/or administration of the Service by or on behalf of us; (d) your violation or breach of any term of these Terms of Service or any policy or guidelines referenced herein; (e) your use or misuse of the Service; or (f) your breach of any law or any rights of a third party.
15. SEVERABILITY
If any provision of these Terms of Service shall be deemed unlawful, void, or for any reason unenforceable under the law of any jurisdiction, then that provision shall be deemed severable from these terms and conditions and shall not affect the validity and enforceability of any remaining provisions in such jurisdiction nor the validity and enforceability of the provision in question under the law of any other jurisdiction.
16. GOVERNING LAW
These Terms of Service shall be governed by and construed in accordance with the laws of Malaysia without regard to its conflict of law rules. The United Nations Convention on Contracts for the International Sale of Goods and the Uniform Computer Information Transaction Act, to the extent applicable, are expressly disclaimed. Unless otherwise required by applicable laws or as prescribed hereinafter, any dispute, controversy, claim or difference of any kind whatsoever shall arising out of or relating to these Terms of Service against or relating to us or any Indemnified Party under these Terms of Service shall be referred to and finally resolved by arbitration in Malaysia in accordance with the Arbitration Rules of the Asian International Arbitration Centre (“AIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this Section. There will be one (1) arbitrator and the language of the arbitration shall be English. Notwithstanding this Clause 16 and for the exclusive benefit of SeaMoney, you agree that SeaMoney shall have the exclusive right to initiate legal proceedings against you before a court in Malaysia, to recover any unpaid monies due and owing by you to SeaMoney and/or to enforce any of SeaMoney’s rights under the Commodity Murabahah Financing Agreement or otherwise, without reference to arbitration.
17. GENERAL PROVISIONS
17.1 SeaMoney reserves all rights not expressly granted herein.
17.2 SeaMoney may modify these Terms of Service at any time by posting the revised Terms of Service on the Shopee Platform. Your continued use of the Shopee Platform after such changes have been posted shall constitute your acceptance of such revised Terms of Service.
17.3 You may not assign, sublicense or transfer any rights granted to you hereunder or subcontract any of your obligations.
17.4 Nothing in these Terms of Service shall constitute a partnership, joint venture or principal-agent relationship between you and SeaMoney, nor does it authorise you to incur any costs or liabilities on SeaMoney’s behalf.
17.5 The failure of SeaMoney at any time to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same unless the same is waived in writing.
17.6 These Terms of Service are solely for your and our benefit and are not for the benefit of any other person or entity, except for us, our respective successors and assigns.
17.7 The terms set forth in these Terms of Service and any agreements and policies included or referred to in these Terms of Service constitute the entire agreement and understanding of the parties with respect to the Service and supersede any previous agreement or understanding between the parties in relation to such subject matter. The parties also hereby exclude all implied terms in fact. In entering into the agreement formed by these Terms of Service, the parties have not relied on any statement, representation, warranty, understanding, undertaking, promise or assurance of any person other than as expressly set out in these Terms of Service. Each party irrevocably and unconditionally waives all claims, rights and remedies which but for this Section it might otherwise have had in relation to any of the foregoing. These Terms of Service may not be contradicted, explained or supplemented by evidence of any prior agreement, any contemporaneous oral agreement or any consistent additional terms.
17.8 You agree to comply with all applicable laws, statutes, regulations and codes relating to anti-bribery and corruption including without limitation, the Malaysia Anti-Corruption Commission Act 2009, the UK Bribery Act, the US Foreign Corrupt Practices Act and the Singapore Prevention of Corruption Act and where applicable, confirm that you have in place all policies and procedures needed to ensure compliance with such requirements.
17.9 If you have any questions or concerns about these Terms of Service or any issues raised in these Terms of Service, please contact us via the channels at the bottom of this page.
17.10 Legal Notices: Please send all legal notices to legal.my@shopee.com and attention it to the “General Counsel”.
17.11 I have read this agreement and agree to all of the provisions contained above and any revision the same hereafter. By ticking the relevant box, I understand that I am creating a digital signature, which I intend to have the same force and effect as if I had signed my name manually.
Last Updated: 6 November 2024
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