Lulu Exchange Online Transfers Terms & Conditions
The following Terms & Conditions (“T&C”) govern the Money Applications Services
offered by Lulu International Exchange L.L.C Lulu, Lulu Exchange, we, us, our,
ours, including all grammatical variations) through its authorized Partners in the
territory of United Arab Emirates for residents of the country.
1. Definitions
Account:
Means the Money Application Account created by the Customer
on the Money Application app
in order to avail the Money Application Services.
Alerts:
Means the customized alert messages Lulu/Partner sent to
Customer Device provided to
Partner/Lulu and appearing on Lulu and Partner’s records.
Business
Day:
Means a day on which Lulu/Partner is open for business in
United Arab Emirates.
Customer
Including all grammatical variations means an individual who
maintains an Account and is
authorized to conduct Transactions via Money Application
Services.
Instruction(s)
:
Means the electronic instructions Customer initiated remotely
and electronically transmitted via
Customer Device to Lulu Exchange.
Lulu/Lulu
Exchange:
Means Lulu International Exchange L.L.C and its branches,
successors and legal assigns.
Money
Application
Services:
Means the money remittance services available online on Money
Application
Money
Application:
Means indirectly through Lulu’s partners/third parties website,
online portals and mobile
applications made available on iOS app store and Android play
store to be downloaded for the provision of Lulu Exchange’s
Services, transactions details, initiating funds transfer
instructions and other services as may be made available to
Customer by Lulu Exchange and its partners
or/and its third parties from time to time in each case through
Customer owned Device.
One Time
Password:
Means the 6-digit number sent to Customer Device for security
purposes in order to register and
continue using Money Application.
Partner
Means a partner or third Party who is authorized by Lulu
Exchange to provide Money
Applications Services offered by Lulu Exchange in the territory
of United Arab Emirates for residents of the country.
Payment
Gateway
Means a service provided by an e-commerce application/
payment service provider that
authorizes credit and/or debit card or direct payments
processing for electronic businesses.
Money Application utilizes the services of, but not limited to,
Central Bank Payment Gateway, Etisalat Payment Gateway and
Mastercard Payment Gateway.
Push
Notifications:
Means the customized messages Lulu/Partner sends due to
specific events and/or transactions
relating to Customer Account such as push notifications,
notices, products, updates, general greetings.
Remittances:
Means fund transfers from Customer bank account to any
beneficiary account maintained with
another Bank.
Security
Codes:
Means all passwords, activation keys and other codes as may
be prescribed by Lulu Exchange
from time to time.
Security
Tools:
Means Customer User ID, Password, One Time Pin, face id and
any other means of security
Lulu Exchange accredited from time to time to allow Customer
to get access to the Money Application Services.
Service
Provider
Means Lulu Exchange and Partner
Transaction(
s):
Means any instructions initiated by Customer, using Customer
Account on Money Application.
Website:
Means Lulu Exchange’s website, www.luluexchange.com and
www.lulumoney.com/
2. Interpretation
a. Words and text not defined in the Money Application Terms and Conditions
shall have the meaning as defined under the General T&C’s.
3. Scope
a. The Money Application Services will only be available for a Device running
either on Apple or Android operating systems and data connections which
meet the required specifications and configurations. Customer agree to
procure and maintain a Device and data connection which meets these
requirements at Customer own expense.
b. The guidance on the operation of the Money Application Services will be made
available to Customer. Customer must follow all relevant guidance whenever
Customer operate the Money Application Services. In case there are changes
to the way Customer should operate the Money Application Services;
Customer will be notified about such changes.
c. Service Provider may post alerts on its Website and it is Customer
responsibility to check any updates or changes. Customer accept that in the
future, Service Provider may send Push Notifications from time to time, add,
delete, and/or modify the Push Notifications based on Customer requests.
d. The Money Application Services will be available 7 days a week, 24 hours a
day but there is no warranty that the same will be available at all times and
shall be subject to any downtime due to unforeseen circumstances and
scheduled maintenance.
e. Instructions received after Service Provider’s normal working hours will be
processed on the next Business Day. Customer agree that Service Provider
shall be entitled at any time, at its sole discretion and without prior notice, to
temporarily suspend the operation of the Money Application Services for
updates, maintenance and upgrading purposes without any liability from its
end.
4. Acceptance
a. By registering on, accessing, browsing, downloading, creating the Account or
using the Money Application for any general purpose or for the specific
purpose of availing any Money Application Services:
(i) Customer automatically and immediately agree to all the T&Cs to be
bound by these terms and conditions set forth below or as amended
from time to time as well as by the service-specific terms and conditions
applicable to each Money Application Services (hereinafter collectively,
the T&Cs).
(ii) If at any time Customer do not accept or agree with any of the T&Cs or
do not wish to be bound by the T&Cs, Customer may not access, browse
or use the Money Application and immediately terminate Customer
availing the Money Application Services by deleting or deactivating the
Account.
b. Customer acknowledge that accepting or agreeing to the T&Cs constitute a
legal contract (hereinafter
Agreement) between Customer, a 21 years of age individual user of the Money
Application and Service Provider.
c. All services are rendered by Service Provider through the Money Application
under the brand name “Lulu International Exchange” (or any derivatives or
variations thereof).
d. Consequently, all the rights, benefits, liabilities and obligations under the T&Cs
shall, as the case may be, accrue to the benefit of, or incurred by, Service
Providers, regarding Customer use of Service Provider’s Money Application
Services, digital services (which includes but may not be limited to money
remittance services), any services which may be added on the Money
Application and which will henceforth be a Money Application Service, from
time to time. The Money Application Services shall be used by Customer
subject to Customer adherence with the T&Cs.
e. On condition that Customer accept and comply with these T&Cs, Service
Provider grants Customer a personal, non-exclusive, non-transferable, limited,
revocable privilege to enter and use the Money Application and/or avail the
Money Application Services.
5. Eligibility
a. To be eligible to render Money Application Services Customer should not:
i. Be a person under the age of 21 years
ii. Impersonate any person or falsely state or otherwise misrepresent
Customer identity, age, source of fund or affiliation with any person
or entity.
iii. Render the service on behalf of a third party nor use other person or
entity funds
iv. A person previously suspended or removed by Service Provider from
availing the Lulu Exchange Services or accessing Money Application.
v. Corporates, business houses or any other entity other than a natural
person.
vi. Use the service for the purposes of routing any corporate or business
transactions.
b. By accepting the T&Cs or by otherwise using the Money Application Services
on the Money Application Mobile App, Customer represent that Customer do
not fall under the mentioned in 5(a) above and that Customer is a natural
person intending to use the Money Application solely in capacity as a natural
person and on Customer own behalf.
c. In addition, Customer represent and warrant that Customer has the right,
authority and capacity to enter into an agreement and to abide by all the T&Cs
as part of Customer agreement with Lulu Exchange.
d. In the event of any violation of the T&Cs, Service Provider reserves the right to
suspend or permanently prevent Customer from availing Money Application
Services or using the Money Application Mobile App.
6. Security and Access Procedures
a. Service Provider will issue the Security Codes for Customer to access Money
Application and Money Application Services. Service Providers may also issue
separate requirements, restrictions, instructions, activation and access
procedures, or any additional conditions pertaining to the access and use of
the Money Application Services, Money Application, the Security Codes or for
performance of the Transactions (“Procedures”). Customer agrees and
undertakes to be bound by and to comply with all of the Procedures that
Service Provider may issue from time to time.
b. Customer must secure Money Application installed on Customer Device with a
password. All such passwords and the Security Codes must be kept strictly
confidential and must not be disclosed to anyone else.
c. Customer must not permit any person to access Customer Device in such a
manner that such person may access Money Application, Security Codes or
the Money Application Service.
d. In the event that Customer loses possession or control of Customer Device in
which Money Application and/or the Security Codes are installed, Customer
must immediately notify and instruct Service Provider in order to restrict the
Money Application Services on Customer’s lost device.
e. Until and unless Customer notify Service Provider, all Instructions received by
Service Provider which are associated with Customer Security Code shall be
deemed correct, valid and issued by Customer. Service Provider shall be
entitled to rely on such Instructions, whether they actually originated from
Customer or purportedly originated from Customer. Customer accept that all
erroneous or inadvertent messages received and processed are Customer’s
responsibility.
f. Customer agree to indemnify Service Provider against any and all liabilities,
losses, claims and damages arising as a result of Customer’s negligence,
breach or non-compliance with the provisions of these T&C’s or as a result of
Customer losing his Device and/or Security Codes.
g. Customer will receive a SMS message that will confirm the receipt of the funds.
7. Use of Money Application
Customer shall always comply with the following and hereby agree:
a. Not to use Money Application for any purpose other than to access Customer
own Account, perform Transactions using the Money Application Services.
b. Not to permit or enable any person to access Money Application or leave
Customer Device unattended in such a manner as to enable others to access
Money Application.
c. Not to reproduce, modify or reverse engineer, modify, decompile Money
Application or permit any other person to do so.
d. Not to permit any person to access the Security Codes.
e. Acknowledge that the Money Application Services and all associated software
are either owned, proprietary or licensed to Service Provider.
8. Prohibited Conduct
By accessing or using Money Application or by availing Money Application
Services, Customer agree not to:
a. violate the T&Cs;
b. impersonate any person or entity, falsely claim or otherwise misrepresent
Customer affiliation with any person or entity, or access the accounts of others
with or without permission, perform any fraudulent activity or otherwise avail
Money Application Services with what we reasonably believe to be potentially
fraudulent funds;
c. use or access Money Application or any Money Application Service, to facilitate
or support any act or omission by any party, that violates these T&Cs or any
laws in any jurisdiction, including but not limited to rules and regulations
relating to Anti-Money Laundering, Notice 2922/2008, Federal law no 20 of
1972 , The Standards for the Regulations Regarding licensing and Monitoring of
Exchange business and any subsequent amendments thereto, illegal gambling
activities, fraud, or funding of terrorist organizations, etc.
d. infringe our or any third party’s intellectual property rights, rights of publicity or
privacy;
e. intentionally interfere with or damage operation of the Money Application
Services or Money Application or any other Customer’s enjoyment of it, by any
means, including uploading or otherwise disseminating viruses, adware,
spyware, worms, or other malicious code or file with contaminating or
destructive features;
f. provide false, inaccurate or misleading information including Customer identity,
age and source of fund
g. avail Money Application Services with what Service Provider reasonably
believes to be potentially fraudulent funds;
h. use the Money Application Services in a manner that results in or may result in
complaints, disputes, reversals, chargebacks, fees, fines, penalties and other
liability to Service Provider, a third party or Customer;
i. use the Money Application Services in a manner that Service Provider or any
payment card network reasonably believe to be an abuse of the payment card
system or a violation of payment card network rules;
9. Transfer Fee
a. Unless applicable law in the destination country requires otherwise, Customer
will bear all fees for the money transfer. In certain cases, payment of a money
transfer may be subject to local taxes and service charges. The beneficiary
may incur additional fees for receiving funds sent by Customer. Transfers
should be sent to a local (beneficiary) bank account, otherwise the receiving
institution may convert the funds at its own exchange rate or reject the
Transaction. The beneficiary’s agreement with its account provider/bank
governs the account and determines their rights, liability, fees, funds
availability and account limitations. In the event of an inconsistency between
the account number (including mobile phone numbers for mobile accounts)
and name of the beneficiary, the transfer will be credited to the account
number provided by Customer. Service Provider accepts no responsibility
towards Customer nor to any account holder for any fees, exchange rates used
for conversion to non-local currency, acts or omissions of the destination or
intermediary financial service providers.
b. Money transfer payments will normally be made in the currency of the origin
country. All currency is converted at Service Provider’s then current rate of
exchange. Service Provider calculates its rate of exchange based on
commercially available interbank rates plus a margin, which may be adjusted
several times daily in line with the relevant closing rate of financial markets
globally.
10. Liability
The availability and proper functioning of the Money Application Services are
dependent on many variable circumstances, including location, mobile network
availability, Payment Gateway and signal strength, proper functioning of
hardware, software and the Device, and Service Provider shall not be liable for
any loss or damage that may result directly or indirectly from any unavailability
or improper functioning of the Money Application Service for any reason.
Lulu Exchange assume no liability whatsoever for any monetary or other
damage suffered by the Customer on account of:
The delay, failure, interruption, or corruption of any data or other information
transmitted in connection with use of the Payment Gateway or services in
connection thereto; and/ or
Any interruption or errors in the operation of the Payment Gateway.
Customer agree to indemnify and compensate Service Provider for any
damages, losses, expenses or liabilities Lulu Exchange incurred as a result of
Customers breach of these T&C’s, in particular the above instance specified
under Clause 10.
Customer understand that in the event of loss of Customer Device and/or SIM
Card or when others get possession of it, it can be misused, as a result,
Customer agree to indemnify Service Provider for any such misuse arising out
of the same. Customer shall not hold Service Provider responsible for any
losses he may incur arising from it.
If Customer open additional Accounts or subscribe to any of Service Provider’s
or its affiliates’ products, services and Service Provider extends the Money
Application Services to such Accounts, products or services and Customer opt
to apply for the services, then the T&C’s of respective product or services shall
automatically apply to such further use of the Money Application Services.
Lulu Exchange abides to the requirements under Anti-Money Laundering and
Counter-Terrorism Financing regulations currently in force. In meeting these
requirements, Lulu would provide details of Customer Transactions to the
regulatory authorities as per the guidelines. For this purpose and the business
requirements of Service Providers, Customer agree to provide true, accurate,
complete and current information and documents. Customer shall indemnify
Service Providers for any loss caused to Service Provider due to Customer
provision of such untrue, inaccurate, incomplete or not current information and
Service Provider will not be responsible for any damages, losses or claims
made against them.
Other Services. Other products & services made available from time to time in
the Money Application may be accessed by Customer based on subscription.
Customer accept that there are risks when using internet as a reliable means
of communication and should Customer decide to communicate and use any of
Money Application Services through Money Application, Customer should do
that entirely at Customer’s own risk and without any liability on Service
Provider.
The accuracy and correctness of all information and details transmitted
through Service Provider’s services are Customer’s responsibility and Customer
accept that all Transactions and Instructions requested will be processed
without the need of any further reference, written notice or verification from
Service Provider’s side.
Once Customer submit and confirm an Instruction or a Transaction, Service
Provider shall be under no obligation to accept any amendment or cancellation
afterwards.
Customer can add a beneficiary for Transactions or payment through the
Money Application’s services and Customer accept that Service Provider will
not be liable for any delay or non-payment if it was caused by an error on the
details of the beneficiary or failure to identify the beneficiary or delay or failure
to act by the receiving party.
Service Provider does not represent or warrant that the Money Application will
be (a) available to meet the requirements; (b) uninterrupted and no delays; (c)
free from failures, errors or omissions or loss of transmitted information; or (d)
free from viruses or other contaminating or destructive properties that can
damage Customer’s phone operating system.
Customer accept that Lulu will not be liable to Customer or any other person
for any negligence, breach, misrepresentation, claim, delay, expenses,
damages or any other liability including legal costs, any loss however caused
and irrespective of whether any claim is based on law of torts, the loss of
profit, business revenue, investment, goodwill, interruption of business or
anticipated savings or loss of data which arises from:
Lulu acting or failing to act upon any of Customer Instructions;
Any error contained in the information Customer have provided through Money
Application Services;
Access or use of Money Application Services in the manner or purpose not
authorized by Service Provider or from Customer part;
Malfunction or breakdown of access to Money Application Services; and
Any events outside Service Provider’s control.
Customer agree to treat access rights; documentation and any information
related to Customer Money Application Services strictly private and
Confidential and Customer shall not copy or reproduce them in any form either
in whole or in part.
Alerts. If Customer subscribe, Service Provider will provide Customer with
alerts or confirmation to Customer nominated contact number or e-mail
address every time Transaction is performed using the Money Application
services.
Fees and Charges. Customer accept that Service Provider may impose charges
on the Money Application services and if applicable, Service Provider will
deduct the charges from Customer Account or may charge additionally. If
Customer use a Credit Card to make money transfer Transaction, Customer
accept that it will be subject to cash advance fees except if it pertains to
payments to utility companies.
In no event, Lulu Exchange or its contractors, agents, licensors, partners or
suppliers will be liable to Customer for any special, indirect, incidental,
consequential, punitive, reliance, or exemplary damages (including without
limitation lost business opportunities, lost revenues, or loss of anticipated
profits or any other pecuniary or non- pecuniary loss or damage of any nature
whatsoever) arising out of or relating to: (i) this Agreement or the T&Cs;
(ii) the Lulu Exchange Services, (iii) Money Application or any reference
site/app/platform/service; or (iv) Customer use or inability to use the Money
Application Services, Money Application (including any and all materials) or any
reference sites/app/platform/service, even if Service Provider or a Service
Provider authorized representative has been advised of the possibility of such
damages.
Customer acknowledge and agree that Service Provider has offered its
products and services, set its prices, and entered into this Agreement in
reliance upon the warranty disclaimers and the limitations of liability set forth
herein, that the warranty disclaimers and the limitations of liability set forth
herein reflect a reasonable and fair allocation of risk between Customer and
Service Provider, and that the warranty disclaimers and the limitations of
liability set forth herein form an essential basis of the bargain between
Customer and Service Provider. Service Provider would not be able to provide
the services to Customer on an economically reasonable basis without these
limitations. Applicable law may not completely allow the limitation or exclusion
of liability or incidental or consequential damages, so the above limitations or
exclusions will apply to Customer subject to applicable law.
In such cases, Service Provider’s liability will be limited to the fullest extent
permitted by applicable law. This paragraph shall survive the termination of this
Agreement.
11. Indemnity
Customer agree to indemnify, save, and hold Lulu Exchange, its affiliates,
Partners, contractors, sub-contractors, employees, officers, principals,
directors, agents, licensors, and partners harmless from any and all claims,
losses, damages, and liabilities, costs and expenses, including without
limitation legal fees and expenses, arising out of or related to: (i) Customer use
or misuse of the Money Application; (ii) any violation by Customer of this
Agreement; or (iii) any breach of the representations, warranties, and
covenants made by Customer herein. Service Provider reserves the right, at
Customer expense, to assume the exclusive defense and control of any matter
for which Customer are required to indemnify Service Provider, including rights
to settle, and Customer agree to cooperate with Service Provider’s defense
and settlement of these claims. Service Provide will use reasonable efforts to
notify Customer of any claim, action, or proceeding brought by a third party
that is subject to the foregoing indemnification upon becoming aware of it. This
paragraph shall survive termination of this Agreement.
12. Debit/Credit Card, Bank Account Details
a. The debit/credit card details provided by Customer for use of the aforesaid
Money Application Service(s) must be correct and accurate and that Customer
shall not use a debit/ credit card, that is not lawfully owned or the use of which
is not authorized by the lawful owner thereof. Customer further agree and
undertake to provide correct and valid debit/credit card details.
b. Customer warrant, agree and confirm that when Customer initiate a payment
Transaction and/or issue an online payment Instruction and provide Customer’s
card /bank details:
● The Customer is fully and lawfully entitled to use such credit/debit card,
bank account for such Transactions;
● The Customer is responsible to ensure that the card/ bank account
details provided by him/ her are accurate;
● The Customer is authorizing debit of the nominated card/ bank account
for the payment of fees selected by such Customer along with the
applicable Fees.
● The Customer is responsible to ensure sufficient credit is available on
the nominated card/ bank account at the time of making the payment to
permit the payment of the dues payable or the bill(s) selected by the
Customer inclusive of the applicable Fee.
13. Payment Gateway Disclaimer
The service is provided in order to facilitate access to view and pay Fees
online. Service Provider and/or the Payment Gateway do not make any
representation of any kind, express or implied, as to the operation of the
Payment Gateway. By accepting/ agreeing to these T&C’s, the Customer
expressly agrees that his/ her use of the aforesaid online payment service is
entirely at own risk and responsibility of the Customer.
14. Cancellation Policy
Once the Customer has registered and paid the fee through online Payment
Gateway, He/She will not be able to cancel the Transaction in any
circumstances, however, payment refund to the Customer can be considered
only under the Refund policy mentioned in Clause 15.
15. Refund Policy for Payment Gateway Payments
a. Refund for Charge Back Transaction: In the event there is any claim for/of
charge back by the Customer for any reason whatsoever, such Customer shall
immediately approach Service Provider with his/ her claim details and claim
refund from Lulu Exchange alone. Such refund (if any) shall be effected only by
Lulu Exchange via Payment Gateway or any other means as Lulu Exchange
deems appropriate. No claims for refund/ chargeback shall be made by any
Customer to the payment service provider(s) and in the event such claim is
made it shall not be entertained.
b. Refund for fraudulent/duplicate transaction(s): The Customer shall directly
contact Service Provider for any fraudulent Transactions on account of misuse
of Card/ Bank details by a fraudulent individual/party and such issues shall be
suitably addressed by Lulu Exchange alone in line with their policies and rules.
16. Disclaimer; No Warranty
To the fullest extent permissible pursuant to applicable law, Lulu Exchange and
its third-party partners, licensors and suppliers disclaim all warranties or
guarantees – whether statutory, express or implied – including, but not limited
to, implied warranties of merchantability, fitness for a particular purpose, and
non-infringement of proprietary rights. No advice or information, whether oral
or written, obtained by Customer from Service Provider or through the Money
Application will create any warranty or guarantee other than those expressly
stated herein. For the purposes of this Disclaimer, Customer expressly
acknowledge that as used in this section, the term “Lulu Exchange” includes
Lulu Exchange’s officers, directors, employees, shareholders, agents, licensors,
contractors, subcontractors and affiliates. Customer acknowledge that Service
Provider is a facilitator of money remittance services and is not liable for any
third party (banks etc.) obligations due to fluctuation in currency exchange
rates, delay in remittance to Beneficiary bank account and all other instances,
whether to any such banks’ account holder or otherwise. Customer expressly
agree that use of the Money Application is at Customer’s sole risk. It is
Customer’s responsibility to evaluate the accuracy, completeness and
usefulness of all opinions, advice, services, merchandise and other information
provided through the Money Application or on the Internet generally. Service
Provider does not warrant that the Money Application will be uninterrupted or
error-free or that defects in the site will be corrected. The Money Application
and any data, information, third party software, reference sites, services, or
software made available in conjunction with or through the services and the
site are provided on an “AS IS”, “AS AVAILABLE” and “WITH ALL FAULTS” basis
and without warranties or representations of any kind either express or
implied. Service Provider, and its third-party suppliers, licensors, and partners
do not warrant that the data, Service Provider’s software, functions, or any
other information offered on or through the Money Application or any reference
sites/s/apps/services will be uninterrupted, or free of errors, viruses or other
harmful components and do not warrant that any of the foregoing will be
corrected. SERVICE PROVIDER AND ITS THIRDPARTY SUPPLIERS,
LICENSORS, AND PARTNERS DO NOT WARRANT OR MAKE ANY
REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF
THE MONEY APPLICATION OR ANY REFERENCE
SITES/PLATFORMS/APPS/SERVICES IN TERMS OF CORRECTNESS,
ACCURACY, RELIABILITY, OR OTHERWISE. CUSTOMER UNDERSTAND AND
AGREE THAT CUSTOMERR USE, ACCESS, DOWNLOAD, OR OTHERWISE
OBTAIN INFORMATION, MATERIALS, OR DATA THROUGH THE MONEY
APPLICATION OR ANY REFERENCE SITES/PLATFORMS/APPS/SERVICES AT
CUSTOMERR OWN DISCRETION AND RISK AND THAT CUSTOMER WILL BE
SOLELY RESPONSIBLE FOR ANY DAMAGE TO CUSTOMERR
PROPERTYINCLUDING CUSTOMERR COMPUTER SYSTEM AND MOBILE
DEVICE OR ANY OTHER EQUIPMENT OR LOSS OF DATA THAT RESULTS FROM
THE DOWNLOAD OR USE OF SUCH MATERIAL OR DATA. WE DO NOT
AUTHORIZE ANYONE TO MAKE ANY WARRANTY ON OUR BEHALF AND
CUSTOMER SHOULD NOT RELY ON ANY SUCH STATEMENT. THIS
PARAGRAPH SHALL SURVIVE TERMINATION OF THIS AGREEMENT. IN NO
EVENT WILL LULU EXCHANGE BE LIABLE FOR ANY INCIDENTAL,
CONSEQUENTIAL, OR INDIRECT DAMAGES INCLUDING, BUT NOT LIMITED
TO, DAMAGES FOR LOSS INFORMATION AND THE LIKE ARISING OUT OF THE
USE OF OR INABILITY TO USE THE MONEY APPLICATION.
17. Security Tools
a. Customer will be given the Security Tools which Customer should be
safeguarded at all times. The Security Tools are considered Customer’s
identification and authentication when access to Money Application services is
made. Once completely and successfully entered, Customer agree that any
Instruction(s) received or Transactions processed shall be deemed to have
been authorized and to have originated from Customer without the need to
obtain any further written or other confirmation even if those Instructions are
not authorized by Customer or performed by another person.
b. Customer agree that any person who uses the Security Tools to access
Customer’s Account through the Money Application services will be given
access and Service Provider is not obliged to further check the identity of such
person or the validity of any Transactions made on Customer’s behalf.
c. Customer should immediately notify Service Provider in case Customer’s
mobile device is lost, stolen or damaged.
d. From time to time, Service Provider will require Customer to change
Customer’s/her MPIN &/or Password for security purpose. Customer’s MPIN
&/or Password may be re-activated and if Service Provider allows, Customer
are given additional 5 attempts to log-in.
e. In case Customer request for a new MPIN/ Password, Service Provider will
respond only after and upon completion of the authentication process. In case
Service Provider approves Customer’s request, Service Provider will reset and
issue a new MPIN/ Password which Service Provider will deliver to Customer’s
registered mobile.
f. In the event of any misuse, Customer accept that Service Provider have the
right to disable the access to Money Application’s services.
18. Data Security
a. At Lulu International Exchange, we take Customer privacy and data security
very seriously. We protect and secure Customer’s financial and personal data
using proven technologies. Certified and accredited by third party privacy
organizations, Lulu International Exchange is regulated by the U.A.E
government agencies.
b. 24/7 Built-in Transaction Monitoring Protection: We continually monitor our
platform to protect our customers from fraudulent activity and unusual
transactions. For the safety and security of Customer’s Account, we may
occasionally place a temporary hold or block a transfer until we can validate
the activity. This is not done to intentionally slow down a transfer but to ensure
the swift and accurate transfer of funds from Customer’s account to
Customer’s intended recipient. When these transaction holds do occur, we will
always attempt to contact Customer via email and phone for an additional
security clearance and verification, particularly when Customer’s transaction is
large or out of pattern.
c. Regulated: Lulu Exchange is fully regulated and registered as a certified money
transmitter and operates across UAE, Oman, Kuwait, Bahrain, Qatar, India,
Philippines, Hong Kong, Malaysia, and Singapore.
d. World-Class Compliance: We use a sophisticated, multi-point technique to
ensure all transactions are subject to the appropriate levels of "Know Your
Customer" and other regulatory checks.
e. Customer expressly and impliedly provide Customer’s free and unconditional
consent for the following: (a) for transferring Lulu Exchange’s rights and
obligations under this Agreement and the T&Cs in favour of any affiliate or third
party; (b) for using the Money Application and availing the Lulu Exchange
Services by Customer subject to any specific terms and conditions imposed by
any affiliate of Lulu Exchange; (c) for receiving communications, notices and
information from any Lulu Exchange or any affiliate of Lulu Exchange; (d) for
sharing of business information (including data analytics and any information
relating to Customer or the services being availed by Customer) between Lulu
Exchange and any affiliate, insofar as such sharing of business information is
necessary or required for the following limited purposes: (i) provision of better
services to Lulu Exchange’s customers (including Customer); (ii) provision of
better services by Lulu Exchange’s vendors; (iii) to prevent any breach of a
binding agreement between Lulu Exchange and any affiliate, or to give effect
to any such agreement; (iv) for ensuring compliance with the applicable law or
legally compelled disclosures by Lulu Exchange or by any affiliate of Lulu
Exchange; or (v) for preventing fraud and money laundering and for
enhancement of risk mitigation systems and processes in relation to the
activities of Lulu Exchange or any affiliate; or (vi) Lulu Exchange retaining any
and all information relating to Customer till such time as may be required under
applicable laws or internal policies. Lulu Exchange’s privacy policy applies to
use of the Money Application, and its terms are made a part of these T&Cs by
this reference. Additionally, by using the Money Application, Customer
acknowledge and agree that Internet transmissions are never completely
private or secure. Customer understand that any message or information
Customer send to the Money Application may be read or intercepted by others,
even if there is a special notice that a particular transmission (for example,
credit card information) is encrypted.
19. Intellectual Property
The Money Application Services and the Money Application are owned and
operated by the Service Provider. The visual interfaces, graphics, design,
compilation, information, computer code (including source code and object
code), products, software, services, and all other elements of the Money
Application provided by Service Provider (hereafter Materials) are protected by
the Federal Law No. 7 of the Year 2002, Concerning Copyrights and
Neighboring Rights, patent Federal Law No. 31 of 2006, trade dress, and
trademark laws Federal Law No. 37 of 1992 on Trademarks (as amended by
Law No. 19 of 2000 and Law No. 8 of 2002, international conventions, and all
other relevant intellectual property and proprietary rights, and applicable laws.
As between Customer and Service Provider, all Materials, trademarks, service
marks, and trade names contained on the Money Application are the property
of Service Provider and/or third-party licensors or suppliers. Customer agree
not to remove, obscure, or alter Service Provider or any third party’s copyright,
patent, trademark, or other proprietary rights notices affixed to or contained
within or accessed in conjunction with or through the Money Application.
Except as expressly authorized by Service Provider, Customer agree not to sell,
license, distribute, copy, modify, publicly perform or display, transmit, publish,
edit, adapt, create derivative works from, or otherwise make unauthorized use
of the Materials. Service Provider reserves all rights not expressly granted in
thisAgreement. If Customer have comments regarding the Money Application
or ideas on how to improve it, please contact customer service. Please note
that by doing so, Customer hereby irrevocably assign to Service Provider, and
shall assign to Service Provider, all rights, title and interests in and to all ideas
and suggestions and any and all worldwide intellectual property rights
associated therewith. Customer agree to perform such acts and execute such
documents as may be reasonably necessary to perfect the foregoing rights.
20. General
a. Service Provider’s records maintained through the mobile network or
otherwise, unless proven to be wrong, shall be accepted as conclusive and
legally binding evidence of Customer’s Transactions using the Service
Provider’s services.
b. Customer shall be responsible to ensure strict adherence to the security
guidelines for the use of Service Provider’s services. This includes ensuring
that any other security alerts that are posted on Service Provider’s Website
and/or Service Provider’s advised to Customer through e-mail are observed
and complied at all times.
c. In case of signing or accepting the General Terms & Conditions for the
in-branch services Branch Services) (“General T&C’s”) and/or the Lulu
Exchange read and accepted at Branch outlet as part of registration process
(“Other Terms & Conditions”) , such Other Terms & Conditions will continue to
be applicable except only where such Other Terms & Conditions are in conflict
with these Terms & Conditions (“T&Cs”), in which case this T&C shall prevail.
d. Customer may request to terminate the access to Service Provider’s services
at any time by giving Service Provider a prior written notice of three 3
Business Days.
e. Service Provider may from time to time and at its sole discretion with prior
notice to Customer, change and amend any of these Terms and Conditions).
The changes will apply on the (effective date) specified in the notice.
f. These Terms and Conditions) shall be construed in accordance with the laws
of United Arab Emirates and the rules, regulations and directives of the Central
Bank of United Arab Emirates. In the event of any dispute arising as a result of
the breach of the T&C, the courts of Dubai shall have jurisdiction, provided that
Service Provider may, if it deems appropriate, initiate proceedings in any other
jurisdiction.
g. If any of the terms of this T&C’s is found by a Court or any other competent
authorities to be void or unenforceable, such term(s) shall be deemed to be
deleted from this T&C’s and the remaining terms of this T&C’s shall continue in
full force and effect.
h. The T&C’s are made in bi-lingual Arabic and English texts however, if there is
any contradiction between the Arabic and English text, the English text shall
prevail.
By applying for and using the Money Application Services, Customer acknowledge
and accepts these T&C’s and any supplementary terms and conditions that may
from time to time be in force.
