TERMS AND CONDITIONS OF MCOLLECTION/CO-OPTILL

1. These Terms and Conditions shall be read together with the Application annexed hereto and shall form part of the contract between the parties hereto. These Terms and Conditions shall be read together with other regulations that govern the Bank as may be varied from time to time.
2. The Applicant shall provide the Bank with a data base being beneficiaries’ reference, names, institution code and Co-opTill Number. The unique code shall be provided by the Bank to the Applicant.
3. The Customer can provide the Bank with an alternative mobile number where the Bank will SMS alerts of payments done to the Co-opTill. The Bank bears no responsibility in case of any claims that may arise due to notification alerts sent to the alternative number provided by the Applicant.
4. The accuracy and validity of the data shall be the responsibility of the Applicant. The Applicant shall fully indemnify and hold blameless the Bank against all losses, liabilities and action that the Bank may incur upon its reliance on the data as provided by the Applicant.
5. The Bank shall strive to remit the money collected on account of the Applicant on a real time basis upon the money being collected by the Bank. The Bank shall, however, not be responsible for remitting the funds within the stipulated two hours if:
   • The network system for mobile banking is down
   • The platform is down
   • The core banking system is down
   • Any other external factors beyond the Bank’s control
6. The amount received by the Applicant shall be the same amount sent and the Bank shall not impose any further transactional charges upon the sender.
7. No failure or delay by the Bank or the Applicant in exercising any claim, remedy, right, power or privilege under this Agreement shall operate as a waiver nor shall any single or partial exercise of any claim, remedy, right, power of privilege preclude any further exercise thereof or the exercise of any other claim, right or power.
8. Save in regard to matters which require to be fulfilled and are in fact fulfilled, this Agreement shall continue to be in full force and effect.
9. Any remedy or right conferred upon the Bank or the Applicant for breach of this agreement including the right of rescission shall be in addition to and without prejudice to all other rights and remedies available to them.
10. The parties hereto agree and covenant that any dispute that may arise out of this agreement shall be negotiated in good faith with the aim of resolving the matter. If the negotiation shall fail, the parties agree to subject the dispute to reconciliation before a single conciliator to be appointed by both parties. In the event that the reconciliation does not bear any fruit, the parties shall refer the matter to a single arbiter to be appointed by the parties, or failure thereto, by the sitting chairperson of the Chartered Institute of Arbitrators – Kenya Chapter.
11. The data provided by the Applicant shall be shared on different platforms for purposes of facilitating collection payments and confirmations thereof.
12. I/We confirm having understood that my/our personal information provided in this application form shall be processed in accordance with the provisions of the Data Protection Act, 2019, and where applicable the General Data Protection Regulation (EU) 2016/679 or all other applicable laws as may be amended from time to time.
13. Dormancy. The applicant shall apply for the paybill till with sole purpose of collecting business payments via it and undertakes to use it for such to ensure the till is not inactive. The Bank shall from time to time send communications to the merchant via the registered options of SMS /EMAIL advising of any inactivity of up to 180 days spread on a 30-day interval. On the expiry of the 180 consecutive days of inactivity the Bank will proceed to automatically close the till without any further communication to Merchant. The till will only be re-opened upon after a written request to re-open by the merchant.
14. Reversals due to erroneous payments:
    • The Bank shall make every effort to contact the Merchant using the contact details provided by the Merchant, including but not limited to email, SMS, and phone calls.
    • If the Merchant is unreachable within seven (7) days after receiving a reversal claim, the Bank shall reverse the disputed amount by debiting the Merchant’s account without further delay or liability.
    • If the Merchant is reachable but fails to provide substantive evidence or explanation within seven (7) days of receiving the complaint, the Bank shall proceed to reverse the disputed amount by debiting the Merchant’s account without further delay or liability.
15. The merchant hereby authorizes the Bank to debit his/her account in accordance with the terms set forth in clause 14 above and agrees to indemnify the Bank for any loss occasioned to the merchant by such reversal and debit.