Terms and Conditions

Effective Date: April 2022

Summary

This User Agreement is a financial services and an end-user licence agreement between the Customer, Koa Technology Inc, and KoaSave Africa Limited, and other related entities in the Kenyan market (collectively known as “Koa”) which provides the Products and Services available on the Koa App.

Please read these Terms & Conditions carefully. By creating an account on the Koa App, using any of our services, or signing up to our newsletter on our website, you are agreeing to this Agreement, our Privacy and Data Protection Policies, without any limitation or qualification, which will result in a legal agreement between you and Koa (the Agreement). You also give your express consent for Koa to process personal data for purposes of signing up to and accessing our Services on the Koa App. You also agree and consent for Koa to include you in any membership-related programs or commercial arrangements with TPIs that would be required in order to let you partake in Products and Services that include third party investment and financial services.

DEFINITIONS

Below are a few definitions that should help you understand these Terms:

Agreement means this User Agreement.

Bank Account means the Customer’s bank account held with a duly licensed bank.

Business Day means a day other than a Saturday, Sunday or national or public holiday in Kenya.

Calendar Day means each day from Monday to Sunday.

Credentials means your personal credentials used to access the Koa App and operate your Account.

Customer means the person whose duly registered mobile phone, mobile number and whose personal details were used to register and utilise the Koa App to access the Products and Services offered by Koa. The word Customer is interchangeable with Member or User.

Data Protection Law means the relevant national law regulating the processing of personal information.

Equipment includes your mobile phone, laptop, computer, tablet and or other equipment which when used together enables you to access the Koa App and Website.

IPRS means the Integrated Population Registration System.

Koa (also referred to as “we,” “us” or the “Company”) means Koa Technology Inc, KoaSave Africa Limited and any other group or related entities.

KoaSave Africa Limited means a limited liability company duly incorporated in accordance with the laws of Kenya, a wholly owned subsidiary of Koa Technology Inc authorised to operate the Koa App in Kenya.

Koa Technology Inc means a corporation duly incorporated in accordance with the laws of the State of Delaware, the proprietor of the Koa App and all other related intellectual property rights arising from or in connection to the Koa App.

Koa App (or App) means the digital savings and investment platform that enables Members to access our digital mobile application and website providing customers access to Koa’s Services and Products.

Koa Account means a Customer’s account created on the Koa App for purposes of accessing the Products and Services offered by Koa by transferring funds either through Mobile Money or a Bank Account.

KYC means the “Know Your Customer” requirements governed by law to enable us to collect personal information about Customers which includes but is not limited to your Personal Information or any other information required by law.

Mobile Money means the money transfer and payments service operated by the Mobile Money Providers in Kenya.

Mobile Money Service means the money transfer and payments service provided by the Mobile Money Providers through the Mobile Money System.

“Mobile Money System” means the system operated by the Mobile Money Providers in Kenya for the provision of the Mobile Money Service.

“Mobile Network Operator” or “Mobile Money Provider” means a mobile network operator registered with the Communications Authority of Kenya.

“Network” means a mobile cellular network operated by a Mobile Network Operator

Personal Information means your full name, mobile number, email address, ID/Alien ID/Passport Number, home address, KRA PIN Number, bank account details, names of beneficiaries and identification information and any other related information that will enable Koa to identify you and comply with the regulatory “Know Your Customer” requirements as well as its products and services.

Third Party Institutions or TPIs are any institutions, third parties or financial services institutions (and related entities) regulated by a regulatory authority including but not limited to: the Capital Markets Authority, Central Bank of Kenya, Sacco Societies Regulatory Authority, and Commissioner of Cooperative Societies within the Republic of Kenya that Koa has partnered with to engage with to provide you access to their investment products for saving and investment purposes.

Relevant Information means information including, but not limited to, data relating to your phone (including, without limitation, your phone's history) from your Equipment, from any SMS sent to you by the Mobile Money Providers and any financial services providers relating to your use of the Mobile Money Service and such other information as We shall require for purposes of providing the Services.

Request means a request or instruction received by Koa from you, your Equipment, or purportedly from you through the Network, mobile phone and the System and upon which Koa is authorised to act.

Products means the various savings and investment products options available on the Koa App for a Member to deposit their funds for investment offered by Third Party Institutions.
Privacy Policy means Koa’s Privacy Policy that sets out the basis on which any personal data we collect from you, or that you provide to us, will be stored and processed by us available on our website.

Services includes any form of services or products that Koa may offer you pursuant to this Agreement and as you may from time to time subscribe to and "Service" shall be construed accordingly.

Service Fee means a technology service fee associated with the provision of services by Koa.

SIM Card means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Mobile Money Account.

SMS means a short message service consisting of a text message transmitted from your mobile phone to another.

System means electronic communications software enabling you to communicate with Koa for purposes of the Services. The System and the Services will, for the purpose of this Agreement, be accessed through a Mobile Network Operator's System.
Technology means services used or supported by the App.

Technology Service Fee or Service Fee includes any fees and charges payable for the use of the Services. Service Fees are subject to change at any time at our sole discretion.

Terms of Agreement means this Agreement, Our Privacy Policy, Data Retention Policy, Cookie Policy and any other relevant policies that may be incorporated by Koa from time to time.

Website means Koa’s website available at https://www.withkoa.com/.

Withdrawal means a request made on the Koa App to withdraw funds deposited by the User. The term withdrawal is interchangeable with instant loan and shall be subject to the contractual documentation or governing policies.

In addition to the above definitions, unless the context requires otherwise, the singular shall include the plural and vice versa; a reference to any one gender, whether masculine, feminine, or neutral, includes the other two; all the headings, subheadings and bullet points in this Agreement are for convenience only and are not to be taken into account for the purposes of interpreting it; the recitals and schedules shall be deemed to form part of this Agreement.

GENERAL INFORMATION

The Koa App is accessible through our website, Google Play, and the Apple Store and is operated and controlled by us. Koa has employees, independent contractors, and representatives (Our Team) that operate to ensure the Services are available to you on the Koa App as set out in this Agreement.

These Terms of Agreement describe how we’ll treat your account and the data we collect and process about you, while you are a Member. If you do not agree to these Terms of Agreement, you must immediately discontinue your use of the Koa App and Services.

Some features of our Website may be offered as add-ons to your Koa Account (Add-ons). Unless expressly stated otherwise, these Terms apply to the use of Add-ons. Some Add-ons are intended for particular use cases and may also have additional terms or restrictions (Additional Terms). Additional Terms for Add-ons can be found on our Site and Members agree to the applicable Additional Terms at the time you choose to add the corresponding Add-on. Also note that a Koa Account may have access to unique features of the Service based on a Member’s historic usage or status.

Koa uses additional third parties to provide certain features of the Services, and, as a result, we are contractually obligated to make our Members aware of certain terms related to the use of such features. Therefore, you acknowledge and agree that by signing up for a Koa Account and using the Services, you are also bound by our TPIs Terms & Conditions and Privacy Policies.

If you download the App through the Apple App Store, Google Play or any other app store or distribution platform (App Provider), you acknowledge and agree that:

i. these Terms are between us, and not with the App Provider, and that we are responsible for the Service, not the App Provider;
ii. the App Provider has no obligation to furnish maintenance and support services or handle any warranty claims;
iii. the App Provider is not responsible for addressing any claims you or any third party have relating to the App;
iv. and the App Provider is a third party beneficiary of these Terms as related to your use of the App, and the App Provider will have the right to enforce these Terms as related to your use of the App against you.

ACCEPTANCE OF TERMS AND CONDITIONS

You must carefully read and understand the Terms and Conditions set out in this Agreement and as amended by Koa from time to time before using the Services which will govern your use of the Services and the App and operation of your Account in connection with the Services.

You will be deemed to execute and consent to be bound to the terms of this Agreement upon clicking the "Accept" option on Koa's System asking you to confirm that you have read, understood and agreed to abide by this Agreement. If you do not agree with this Agreement, please click the "Decline" option in our System. Please note that you will not be able to access the Services and get a licence to the App if you click the "Decline" option.

By downloading the Koa App, accepting these terms and conditions in accordance with Clause 1.2 above and opening a Koa Account, you agree to comply with and be bound by the Terms and Conditions governing the Services and you affirm that the Terms and Conditions herein are without prejudice to any other right that you may have with respect to the Services and/ or Account in law or otherwise.

This Agreement may be amended or varied from time to time at the sole discretion of Koa and the continued use of the Services constitutes your agreement to be bound by the terms of any such amendment or variation. We will take all reasonable measures to notify you of any changes and such changes may be published through our social media platforms and/or website or any other method at our discretion.

By using the App or any of the Services, you consent to us collecting and using technical information about the Equipment and related software, hardware and peripherals for Services that are internet-based or wireless to improve our products and to provide any Services to you. If you use these Services, you consent to the following actions by Us, affiliates and licensees: transmission, collection, retention, maintenance, processing and use of your data to improve our Services and/or your experience while using the App.

SCOPE OF LICENCE

In consideration of you agreeing to abide by the terms of this Agreement, we grant you a limited, non-transferable, non-exclusive licence to use the App on your Equipment, subject to this Agreement. We reserve all other rights.

Except as expressly set out in this Agreement, you agree:
i. not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the App;
ii. not to make alterations to, or modifications of, the whole or any part of the App, or permit the App or any part of it to be combined with, or become incorporated in, any other programs;
iii. not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the App or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving interoperability of the App with another software program, and provided that the information obtained by you during such activities:
a. is not unnecessarily disclosed or communicated without our prior written consent to any third party;
b.  and is not used to create any software that is substantially similar to the App;
c.  to include our copyright notice on all entire and partial copies you make of the App on any medium;
d. not to provide or otherwise make available the App in whole or in part (including object and source code), in any form to any person without prior written consent from Us;
e. to comply with all technology control or export laws and regulations that apply to the technology used or supported by the App or any Services, together with the Licence Restrictions.

Licence Restrictions:

You are not permitted to and it is a breach of this Agreement to:
i. use the App or any Service in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with this Agreement, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the App, any Service or any operating system;
ii. infringe our intellectual property rights or those of any third party in relation to your use of the App or any Service, including the submission of any material (to the extent that such use is not licensed by this Agreement);
iii. transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of the App or any Service;
iv. use the App or any Service in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users; and
v. collect or harvest any information or data from any Service or our Systems or attempt to decipher any transmissions to or from the servers running any Service.

ACCOUNT OPENING & ACCOUNT OPERATION INFORMATION

Eligibility

In order to open a Koa Account and access our Services, you must meet the following requirements:
- be at least eighteen (18) years old;
- have capacity to enter into legally binding contracts;
- provide details of your personal information requested during our KYC onboarding process;
complete our onboarding process and agree to this Agreement ;
- consent to us processing your personal data to facilitate access to our Services on the Koa App and Website.

By using the Koa App, you represent and warrant that you meet all the requirements listed above, and that you won’t use the Service in a way that violates any laws or regulations. Note that by representing and warranting, you are entering into a contractually binding agreement.

Koa may refuse service and/or close a Koa account of any Member, and change eligibility requirements at any time. Further, Koa reserves the right to suspend or terminate any User account that it has reasonable basis to believe is being utilised for a fraudulent purpose or any other purpose aside from that envisaged under these Terms and Conditions.

In the event of such suspension or termination of account, the User shall only be entitled to receive the deposits they had made, less Koa’s Service Charges, but shall not include any investment margins or benefits that the User may have made (actual or perceived) as a result of utilising the Koa App.

By signing up for an account and agreeing to our Terms, the Agreement between you and Koa is formed, and the term of the Agreement will remain in force until you delete your Koa Account (the Term). The Term will continue for as long as you have a Koa Account or until you or we terminate the Agreement in accordance with these Terms, whichever happens first.

Our Services can only be utilised by persons over the age of 18. Koa reserves the right to verify the authenticity and status of your Mobile Money Account with the relevant Mobile Money Provider.

Our acceptance of your Withdrawal will be displayed on the App. You hereby acknowledge and accept that the acceptance by Us of your application for a Withdrawal may create any contractual relationship between you and Us beyond the Terms and Conditions that apply to your Mobile Money Account from time to time.

We reserve the right to decline your request for a Withdrawal or to revoke the same at any stage at our sole and absolute discretion and without assigning any reason or giving any notice thereto.

We reserve the right (in our sole and absolute discretion) to issue or decline to issue a Withdrawal and/or vary the terms of any Withdrawal depending on our assessment of the user profile and his or her account status from time to time. The terms of the Withdrawal and the Service Fee payable in relation to each Withdrawal application will be displayed in the Koa Loan Policy, which can be availed upon request.

Onboarding Process & Koa Account Opening

You hereby agree and authorise Koa to obtain and procure your Personal Information contained in the IPRS from the Government of Kenya and you further agree and consent to the disclosure and provision of such Personal Information by the Government of Kenya to the Company.

You hereby agree and authorise Koa to obtain and procure Personal Information with third parties should the relevant information be required to validate you as a customer for access to Koa’s Product and Services.

You hereby further acknowledge and authorise Koa to verify your Personal Information against the information received from the Government of Kenya in your respect as contained in the IPRS.

On behalf of its partners, Koa reserves the right to request  further information from you pertaining to your application for a Koa Account at any time. Failure to provide such information within the time required may result in Koa declining to accept your application to open a Koa Account or declining to accept your ability to partake or invest in Koa’s Products or Services.

Confirmation of successfully opening a Koa Account shall be  communicated to you once the account opening process has been successfully completed. Communication can occur via various channels which include, but is not limited to: SMS, Email, Whatsapp, and In-App Notifications.

Koa reserves the right to decline your application for a Koa Account or to revoke your user privileges at any time at its sole discretion and without assigning any reason or giving any notice thereto.

Once the KYC onboarding process is complete, you will have the ability to initiate deposits which will reflect in your Koa Account whereupon they can be utilised towards Koa’s Products and Services.

If you sign up for an account on behalf of a company or entity you are confirming that you have the authority to represent the said company or entity and you take on the responsibility as an individual, in addition to the Company or entity you hold yourself as representing, of accepting the Terms of Agreement on behalf of the said company or entity with Koa.
Information Sharing Statutory & Compliance Obligations

You hereby agree and authorise Us to verify information provided by you to Us against the information held by the Mobile Money Providers, IPRS, and KRA in relation to your Mobile Money Account pursuant to the agreement between you and the relevant Mobile Money Provider for the provision of its products and services and the Mobile Money Service.
We may verify your Personal Information against the information held by the Mobile Money Providers, IPRS, KRA, and other Third Party Institutions.

You hereby agree and authorise Us to verify your Personal & Relevant Information.
You hereby consent to Us verifying the Personal Information and the Relevant Information with the Mobile Money Providers and using the Personal Information and the Relevant Information to the extent necessary in Our sole and absolute discretion to the extent permitted by Data Protection Laws.

You acknowledge that our verification of your Relevant and Personal Information as envisioned in this Clause includes but is not limited to data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you by the Mobile Money Providers and/or Mobile Network Provider and any financial services providers relating to your use of the Mobile Money Service and such other information as we shall require for purposes of providing you the Services.

You hereby agree and authorise Us to obtain and procure your Personal Information from the Credit Bureaus and/or any other reliable sources and you further agree and consent to the disclosure and provision of such Personal Information by the Credit Bureaus and/or reliable sources.

We reserve the right to request for further information from you pertaining to your application for a Withdrawal at any time. Failure to provide such information within the time required by Us may result in declining to accept your application for a Withdrawal.
Koa reserves the right to supply consumer information to the Credit Bureaus with your consent, where such information has been requested by the Credit Bureaus or is mandated by law or any other justifiable reason.

In this regard: you confirm that upon receipt of consent, we may transmit to the Credit Bureaus data about the Koa App, opening and termination of an Account by you; you acknowledge that information on non-compliance with the Terms and Conditions of this Agreement is transferred to the Credit Bureaus; and the Credit Bureaus provides a credit profile and possibly credit scores on your creditworthiness, subject to the credit record.
In-App Requests by Customers

You hereby irrevocably authorise Us to act on all Requests received from you (or purportedly from you) through the System and to hold you liable in respect thereof. We may nevertheless refuse to carry out any Requests in our sole and absolute discretion.
Subject to our discretion, We reserve the right to reject any Request in relation to a Deposit or Withdrawal where such a Request is deemed, fraudulent, suspicious, or out of your regular customer transaction activity from you even if you have previously been able to do so and shall proceed to issue you with a notification of such rejection and any remedial measures (if any) you may be required to undertake.

We shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in our absolute discretion, if We believe that we can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.

We shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which We may act if We have in good faith acted in the belief that such instructions have been sent by you.

We may, in our absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further inquiry or further confirmation (whether written or otherwise) from you.

You agree to and shall release from and indemnify Us against all claims, losses, damages, costs and expenses, however arising in consequence of, or in any way related to Us having acted (or failed to act) in accordance with the whole or any part of any of your Requests.
We are authorised to effect such orders in respect of your Koa Account as may be required by any court order or competent authority or agency under the applicable laws.

In the event of any conflict between any terms of any Request received by Us from you and this Agreement, this Agreement shall prevail.

Products, Deposits & Withdrawals

We reserve the right to decide which products and services are available to any single user at any given time without prior notice, and at our own discretion.

A wide range of products and services can be offered which include features and characteristics that include or are subject to value and time-bound lock-in periods, and may also be subject to penalties. Such features will be communicated to the user before selection and opt-in for the product and services, where confirmation by the User will confirm his or her acceptance of the binding terms and conditions of that Product or Service.

We reserve the right to change the characteristics attributed to the Products and Services at any time and reserve the discretion to communicate such changes to you. Provided that any changes to Products shall not affect any current deposits held on your behalf or investment margins or benefits earned (and not projected or anticipated) as at the date of such changes.

The minimum amount to deposit into your Koa Account is Kenya Shillings One Hundred (KES 100.00). Any further deposits must be at or above the minimum of Kenya Shillings One Hundred (KES 100.00).

Once a deposit has been made, this will be reflected in your Koa Account within one (1) business day, and these funds will begin to earn interest the following day after a deposit is made.

Withdrawals will only be permitted in accordance with the Terms and Conditions of the various products available on the Koa App and further details can be found on our Website or on the Koa App. Any withdrawal requests can only be made from the available funds in your Koa Account, with the withdrawal process facilitated through  the transaction methods made available at the time of a Request and the relevant processing fees by the relevant Payment Service Providers being applicable.

Once a withdrawal request is made, Koa may take five (5) business days to effect the withdrawal request and reserves the right to charge any applicable fees connected to the withdrawal, which will be informed to the User. Any funds withdrawn will be transacted through the channels available at that time which include but are not limited to the User’s Mobile Money account, and bank account. Any delays in withdrawal shall be communicated to you where the delay has not been occasioned by Koa.

Funds cannot be directly transferred to any third party. We are not responsible for any third party fees incurred in the withdrawal of your funds.

Funds cannot be transferred to an account that is not in the name or ownership of the User.
In the event that you deposit or request a Withdrawal of more than KES 1 Million or any other amount into your account, Koa will require you to provide details and documents of the source of funds. Koa is required to comply with anti-money laundering laws and regulations and may therefore be obligated to request additional information from you.

The prescribed timelines relating to deposits and withdrawals may be delayed if events occur that are outside the normal process or control of Koa. Koa will try its best to resolve the aforementioned Events in order to normalise the expectations and timelines mentioned.
The User agrees that Koa will not be held liable for delays of Withdrawal or deposit of funds into the App or towards products or services requested by the User if any issues of compliance and/or anti-money laundering laws and regulations take precedence.

In the event of any technical issues that may affect your ability to access the App, make a Request on the App, or receive accurate information regarding your Account, Koa shall ensure that where necessary, prior communication is circulated, and remedial actions are taken to ensure the restoration of the above mentioned.

Interest

Interest earned on the funds deposited in your Koa Account will accrue interest on a periodic basis (daily, weekly, or monthly) depending on the Product or Service you choose to invest in through the Koa App.

The interest advertised by Us will be reflective of the interest rate offered by our TPIs and may be gross of taxes, deductibles and other expenses charged by the TPI.

Although interest may be mentioned as fixed or as a range, it is subject to change based on prevailing economic, political or social circumstances. Koa does not control or have any influence over the interest rates set by the Third Party Partners where deposited funds are invested.

Koa reserves the right to change its mentioned interest rates on the products and services offered should economic conditions require it too, including exaggerated movements or devaluation of currency. In this regard, Koa shall provide the necessary notification of such change in Interest and when the same shall become applicable.

Additional Fees

All transaction-related charges shall apply and be payable by you when transferring  funds into and out of your Koa Account.

In addition to the charges outlined above, Koa reserves the right to charge you other expenses subject to the provision of prior notice before effecting the charges.

You hereby agree to pay all Transaction, Service Fees and other additional charges or fees payable in connection with your use of the Services.

Service Fees

Any Service Fee payable by you to us will be communicated to you. We shall be entitled to set and charge Service Fees, in connection with your use of the Services and from time to time amend or vary our Service Fees. If We decide to vary or amend our Service Fees, the Service Fees payable on any Services will be communicated if they affect you.

We will use reasonable efforts to try to notify you of any changes in relation to Service Fees within a reasonable period before such changes are implemented including displaying notices of the changes in the App, via SMS, Email, through our Social Media platforms, or our website.

All payments to be made by you under this Agreement shall be made in full without any setoff or counterclaim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Us, you shall immediately pay to Us such additional amounts as will result in Us receiving the full amount it would have received had no such deduction or withholding been required.

If you fail to make any payments due to Us at the due date for payment, We will be authorised to apply the Rollover Fee on such amount loaned to you at a rate to be communicated to you.

You agree to pay all other fees, expenses and taxes, duties, impositions and expenses incurred in complying with your Requests.

You hereby agree to pay costs, charges and expenses incurred by Us in obtaining or attempting to obtain payment of any Withdrawal or Loan owed by you.

If there is any extraordinary increase or decrease in the effective purchasing power of Kenyan currency, as measured in our reasonable discretion, We shall have the right to make corresponding adjustments in the Service Fees. A change of at least 15% shall be regarded as an extraordinary increase or decrease in the effective purchasing power of the Kenyan currency.

Account Statements

Koa reserves the right to provide you with a statement and activity report in respect of your Koa Account which will be made available in the Koa App in the form decided by Us. Further Requests can be made via our contact channels on the App or website, or via e-mail at hello@withkoa.com.

Your statement will show all the details of the last transactions or such other number of transactions as determined by Us and initiated from your Equipment. You must check your statement carefully and notify us as soon as possible if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.
We reserve the right to rectify discrepancies, add and/or alter the entries in your statements or account, without prior notice to you. We will however inform you of any rectification, additions and or alterations effected on your statements within a reasonable time after the changes are effected.

Save for a manifest error, a statement provided to you in respect of your transactions shall be conclusive evidence of the transactions carried out and requested by you from your Equipment for the period covered in the statement.

Closing Your Account

You may terminate the Agreement at any time and for any reason by closing your Koa account and deleting the Koa App. In order to close your Koa Account, you will be required to ensure that you have withdrawn all the funds in your Koa Account before we proceed to delete your Account.

Koa reserves the right to suspend or delete your Account at any time, with or without cause particularly where Koa suspects that a Request is suspicious, fraudulent, illegal and/or detrimental to the Company’s interests.

Once your account is terminated, you acknowledge and agree that we will retain your data for seven (7) years after which, we may permanently delete your account and all the data associated with it, unless otherwise required by law, in accordance with our Data Retention Policy.

Changes to the Terms of Agreement
We may change any of the terms of this Agreement by posting a notice of the revised terms on our Website. Unless you terminate your account immediately prior to the issuance of such revised Terms, the new Terms will be effective immediately upon posting and apply to any continued or new use of the Service.

We may change the Service, Add-ons, or any features of the Service at any time, and we may discontinue the Service, Add-ons, or any features of the Service at any time.
We may change our fees, by posting a new pricing structure to our Koa Site or in your account and/or sending you a notification by email.

If you use an Add-on that has a charge, then you’ll be billed that separately for as long as the Add-on is active. Certain Add-ons may require upfront payment for their entire billing cycle.

CUSTOMER ACCOUNT RESPONSIBILITY

Account Safety, Password and Security

You are responsible for keeping your account name and password confidential. You’re also responsible for any account that you have access to and any activity occurring in such an account, whether or not you authorised that activity. You’ll immediately notify us of any unauthorised access or use of your accounts.

Koa is not responsible for any losses due to stolen or hacked passwords. We don’t have access to your current password, and for security reasons, we may only provide you with instructions on how to reset your password. We reserve the right to update any of your contact information in your Koa Account.

In addition, you represent and warrant that all information you provide to us when you establish a Koa Account, and when you access and use the Services, is and will remain complete and accurate. We may contact you, any beneficiary, authorised user, based on the information provided in your account and only in limited circumstances that necessitate such communication or where We are authorised by law.

You will be responsible for ensuring the safety, confidentiality, functionality, operation and restricted access to your mobile device or any other electronic device which you use to access the App.

Unless express written or oral communication is provided by you, Koa will assume that any instructions received in relation to your Koa Account are valid and accurate.

Koa will not be responsible for any losses, damages, charges, harm or expenses that may be incurred in the event your mobile phone is stolen and any funds you hold with us are misappropriated or stolen where we receive instructions from a party other than yourself.

If your phone is stolen, we recommend that you notify us immediately to ensure that we do not process any unauthorised transaction requests. We shall reserve the right to accept or decline any further instructions until we receive notification to our satisfaction that you have full custody and control of your Koa Account in compliance with the Agreement.

You acknowledge that, to the full extent permitted by law, We shall not be liable for any unauthorised drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Account PIN, password, ID or any means whether or not occasioned by your negligence.

Customer Equipment Responsibility

You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the Koa App and the Services.

You shall be responsible for ensuring the proper performance of your Equipment. Koa shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall Koa be responsible for any virus or related problems that may be associated with the use of the Koa App, or the Services through your Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and the Company shall not be responsible for losses or delays caused by any such service provider.

Koa Account Ownership Disputes

Koa will not permit you to request access to or information about an account that’s not yours, and you’ll resolve any account-related disputes directly with the other party. We decide who owns an account based on a number of factors, including the content in that account, and the contact and profile information listed for that account.

In cases where differing contact and profile information is present or we are unable to reasonably determine ownership, we’ll require you to resolve the matter through proper channels outside of Koa.

When an account ownership dispute is identified, we may suspend the Koa Account associated with the dispute, including disabling login and sending capabilities, to protect the security and privacy of the data held within the account until the dispute is properly resolved.

PROPRIETARY, INTELLECTUAL PROPERTY & DATA PRIVACY RIGHTS

Proprietary Rights

Koa owns all proprietary rights in the Services, including, but not limited to, patents, trademarks, service marks, trade secrets, copyrights, and other intellectual property rights.
Nothing in this Agreement gives you a right to use the Koa name or any of Koa’s trademarks, logos, domain names and other distinctive brand features. All right, title and interest in and to the services are and will remain the exclusive property of Koa and its licensors.
You shall retain all right, title, and interest in and to the material, content, data, and information (including your personal information and the personal information of others) you submit to Koa in the course of using the Service or which Koa otherwise retrieves or accesses at your direction or with your permission (collectively, your Content).

Subject to these Terms, you grant us permission to use or disclose your Content (including any personal information therein) only as necessary to provide the Service to you and/or as otherwise permitted by these Terms. You represent and warrant that: (i) you own or have otherwise obtained all necessary rights, releases, and permissions to submit all your Content to the Service and to grant the rights granted to us in these Terms and (ii) your Content and its submission and use as you authorise in these Terms will not violate (1) any applicable law, (2) any third-party intellectual property, privacy, publicity, or other rights, or (3) any of your or third-party policies or terms governing your Content.

Intellectual Property Rights

You acknowledge that the intellectual property rights on the Koa App and Website (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that the Koa provides to you are legally owned and vested Koa or in other persons from whom Koa has a right to use and to sub-license the Koa App and Website.

You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of the Company.

Data Privacy

Your privacy is important to us. Please read our Privacy Policy and Data Retention Policy for information regarding how we collect, use, and disclose your personal information and the privacy rights available to you when you use and interact with the Koa App and our Services.
For all of the personal information we collect and process through the Service, we act as a processor; however, there are certain instances, as described in our Privacy Policy, where we process personal information, including Content and other data from Member accounts, as a controller for important business purposes (e.g., for billing, administrative, security, and product improvement purposes).

We may aggregate and anonymize data, including from the Content, to create statistical information. Aggregated anonymized statistical information may be shared externally for research, marketing, or other lawful purposes in accordance with the law.

INDEMNIFICATION, LIMITATION OF LIABILITY & DISCLAIMERS

Indemnification

In consideration of Koa complying with your instructions or Requests in relation to your Koa Account, you undertake to indemnify Koa and its related entities to hold it harmless against any loss, charge, damage, expense, fee or claim which Koa suffers or incurs or sustains thereby and you absolve Koa from all liability for loss or damage which you may sustain from Koa acting on your instructions or Requests or in accordance with this Agreement.

The indemnity in clause above shall also cover the following:

All demands, claims, actions, losses and damages of whatever nature which may be brought against Koa or which it may suffer or incur arising from its acting or not acting on any request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond the Koa’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Koa.

Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.

Any unauthorised access to your Koa Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.

Any loss or damage occasioned by the failure by you to adhere to this Agreement and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Koa as a consequence of any breach by this Agreement .

Any damages and costs payable to Koa in respect of any claims against Koa for recompense for loss where the particular circumstance is within your control.Your violation of these Terms may cause irreparable harm to us and our Team. Therefore, we have the right to seek injunctive relief or other equitable relief if you violate these Terms.If we have to provide information in response to a court order, or other legal, governmental, or regulatory inquiry related to your account, then we may charge you for our costs. These fees may include attorney and employee time spent retrieving the records, preparing documents, and participating in legal proceedings.

Limitation of Liability

Your use of the Services provided on the Koa App and Website is at your own risk.
We shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within Koa's control including, without limitation, Force Majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, operation of the law and failure of any public or private telecommunications system.

You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the App, as described, meet your requirements.

We only supply the App for domestic, private and/or corporate use. You agree not to use the App and documents for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

We will not be liable for any losses or damage suffered by you as a result of or in connection with:
i. a defect or fault in the App or any Service resulting from you having altered or modified the App;
ii. a defect or fault in the App resulting from you having used the App in breach of the terms of this Agreement;
iii. your breach any of the Licence Restrictions;
iv. unavailability of sufficient funds in your Koa Account;
v. failure, malfunction, interruption or unavailability of the System, your Equipment, the Network, your Bank Account or a Mobile Money System;
vi. the money in your Koa Account being subject to legal process or other encumbrance restricting payments or transfers thereof;
vii. your failure to give proper or complete instructions for payments or transfers relating to our Account;
viii. any fraudulent or illegal use of the Services, the System and/or your Equipment; or
your failure to comply with this Agreement and any document or information provided by Us concerning the use of the System and the Services.

We shall not be liable to you for any interference with or unavailability of the Services, howsoever caused. Under no circumstances shall We be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Us.

We are only obligated under this Agreement in respect of Service interference or unavailability shall be limited to the re-establishment of the Services as soon as reasonably practicable, save where re-establishment of the Services is not commercially viable or is not within Koa's control including, without limitation, Force Majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, operation of the law and failure of any public or private telecommunications system.

Save as provided in the clause above, we shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.

All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

Compliance with Laws

You represent and warrant that your use of the Koa App and Website will comply with all applicable laws and regulations. You’re responsible for determining whether the Service is suitable for you to use in light of your obligations under any regulations.

You agree to indemnify and hold us harmless from any losses, including all legal fees and expenses, that result from your breach of this Agreement.

Disclosure of Information

You hereby expressly consent and authorise Koa to disclose receive, record, store or utilise your personal information or information or data relating to the use of the Services and the operation of your Account and any details of your use of the Services:
i. to and from any local or international law enforcement or competent regulatory or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud;
ii. to and from Koa’s service providers, financial service partners, regulators, dealers, agents or any other company that may be or become Koa’s subsidiary or holding company for reasonable commercial purposes relating to the Services;
iii. to a Credit Reference Bureau;
iv. to Koa’s lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;
v. to Mobile Money Providers and/or Mobile Network Providers in connection with the Services;
vi. to Koa’s TPIs, commercial partners and any other entities affiliated or connected to Koa;
for reasonable commercial purposes connected to your use of the Services, such as marketing and research related activities; and
vii. in business practices including but not limited to quality control, training and ensuring effective systems operation

No Warranties

To the maximum extent permitted by law, we provide the Services as-is. This means that, except as expressly stated in this Agreement , we don’t provide warranties, conditions, or undertakings of any kind in relation to the Services, either express or implied. This includes, but isn’t limited to: warranties of merchantability and fitness for a particular purpose, which are, to the fullest extent permitted by law, excluded from the User Agreement. Since Members use the Services for a variety of reasons, we can’t guarantee that it’ll meet your specific needs.

Use of our site is at your own risk. You are responsible for securing and configuring your information technology, computer programmes and platform in order to access our Services.

Disclaimers

As part of Koa’s partnership with its TPIs, means you acknowledge and give your free and express consent to be bound by the relevant TPIs’ terms and conditions and other relevant policies. Specifically, you acknowledge that Koa has a collaborative arrangement with KOAP Savings and Credit Co-Operative Society Limited (Ltd), that shall facilitate the opening of your accounts and management of your funds. In this regard, you undertake to be bound by the relevant governing documents of KOAP that enable the use of their services.

We and our Team aren’t responsible for the behaviour of any Third Party Partners or other parties, agencies, linked websites, or other Members, including third-party applications, products, or services for use in connection with the Service (each, a Third-Party Integration).

Your use of any Third-Party Integration and rights with respect to such Third-Party Integration are solely between you and the applicable third party. We are not responsible for the privacy, security or integrity of any Third-Party Integration or the practices and policies of any Third-Party Integration.

We make no warranties of any kind and assume no liability of any kind for your use of any Third-Party Integration.

MISCELLANEOUS

Assignments

You may not assign any of your rights under this Agreement to anyone else. We may assign our rights to any other individual or entity at our discretion.

Choice of Law

The Laws of the Republic of Kenya will apply to any dispute related to the Agreement or the Service. Each party consents to personal jurisdiction in those courts.Force Majeure

We won’t be held liable for any delays or failure in performance of any part of the Service, from any cause beyond our control. This includes, but is not limited to, acts of god, changes to law or regulations, embargoes, war, terrorist acts, riots, fires, earthquakes, nuclear accidents, floods, strikes, power blackouts, volcanic action, unusually severe weather conditions, and acts of hackers, or third-party internet service providers.Survivability
Even if this Agreement is terminated, the following sections will continue to apply: Feedback and Proprietary Rights, Compliance with Laws, Limitation of Liability, No Warranties, Indemnity, Choice of Law, Severability, and Entire Agreement.

Severability

If it turns out that a section of these Terms isn’t enforceable, then that section will be removed or edited as little as required, and the rest of the Agreement will still be valid.Waiver

If we don’t immediately take action on a violation of these Terms, we’re not waiving any rights under the Terms, and we may still take action at some point.Further Actions

You’ll provide all true and accurate documents and take any actions necessary to meet your obligations under these Terms.Notification of Security IncidentIf we become aware of a security incident related to our systems or databases that contain personal information of you or your contacts, we’ll notify you if required by law.

In that event, we’ll also provide you with information about that incident so that you can evaluate the consequences to you and any legal or regulatory requirements that may apply to you, unless we’re prevented from doing so by legal, security or confidentiality obligations. Notifying you of a security incident or cooperating with you to respond to one will not be deemed an acknowledgement or assumption of any liability or fault of Koa for such incident.

Notices

If you wish to contact us in writing, or if any condition in this Agreement requires you to give us notice, you can send this to us by e-mail to hello@withkoa.com  or to such an e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.

If we have to contact you or give you notice in writing, We will do so by e-mail or by SMS to the mobile phone number or email address you provide to us in your request for the Koa App.

Any notice to you will be effective when we send it to the last email or physical address you gave us on the Koa App or through our Website. Any notice to us will be effective when delivered to us along with any contact number/email addresses indicated in the Koa App or on the Website.

Entire Agreement

These Terms and any additional terms you’ve agreed to by enabling any Add-ons make up the entire agreement between us in relation to its subject matter and supersede all prior agreements, representations, and understandings. Any Additional Terms will be considered incorporated into the Agreement when you activate the corresponding Add-on.

Where there’s a conflict between these Terms and the Additional Terms, the Additional Terms will prevail to the extent of the conflict, unless it is deemed necessary or preferable to rely on the previous Terms.

Changes to the Terms of Use

Koa reserves the right to change, revise or modify this Agreement  from time to time by updating this Agreement. The most current version of this Agreement will continue to govern our relationship with you.

Contact Us

If you have any complaints, questions or queries, contact us at hello@withkoa.com.