TERMS AND CONDITIONS OF SERVICE OF VELOKA

1. Definitions

For the purposes of these Terms and Conditions:

Fund Transfer Service means activities, including a series of activities, that organize, process, and facilitate fund transfers in accordance with Veloka’s applicable licenses, approvals, partnerships, and business scope.

Originator means the party who initiates the Fund Transfer Order.

Recipient means the party entitled to receive funds in connection with the Fund Transfer Service.

Fund Transfer Order means an unconditional instruction from the Originator to transfer a certain amount of funds to the Recipient.

Funds means the amount of money that is the subject of a Fund Transfer Order.

Veloka Application/Platform means the system, application, website, mobile application, Application Programming Interface/API, dashboard, or other electronic media owned, operated, managed, or made available by Veloka to access the Services.

Applicable Laws and Regulations means all laws, regulations, rules, policies, and regulatory requirements applicable in the relevant jurisdiction, including but not limited to payment system regulations, fund transfer regulations, anti-money laundering and counter-terrorism financing regulations, data protection regulations, and other applicable provisions.

Regulator means any government authority, central bank, financial services authority, payment system regulator, law enforcement agency, or other competent authority having jurisdiction over Veloka or the Services.

2. Acceptance of Terms and Conditions

By accessing, registering for, or using the Services provided by Veloka, You acknowledge that You have read, understood, and agreed to be bound by these Terms and Conditions.

These Terms and Conditions constitute a valid and binding agreement between You and Veloka. If You do not agree to any part of these Terms and Conditions, You must not access or use the Services.

3. Scope of Services

Veloka provides and/or facilitates fund transfer, payment processing, and related technology services through the Veloka Application/Platform, either directly or through cooperation with banks, financial institutions, payment service providers, payment system operators, or other authorized partners, in accordance with Applicable Laws and Regulations.

Veloka may determine, add, modify, suspend, or discontinue certain features or services from time to time, subject to applicable requirements and prior notice where required.

4. Fund Transfer Orders

Data Accuracy. The Originator is fully responsible for ensuring that all information provided in a Fund Transfer Order, including but not limited to the Recipient’s name, account number, identity information, payment details, and amount of funds, is complete, accurate, and valid.

Execution. Veloka is only obligated to process or facilitate the Fund Transfer Order based on the information provided by the Originator. Veloka shall not be responsible for losses arising from inaccurate, incomplete, invalid, or misleading information submitted by the Originator.

Operating Hours. Fund Transfer Orders will be processed in accordance with Veloka’s operating hours and/or the operating hours of its partners, including banks, financial institutions, payment networks, or other service providers. Such operating hours may change from time to time and may be communicated through the Veloka Application/Platform or other reasonable channels.

5. Rejection or Suspension of Fund Transfer Orders

Veloka reserves the right to reject, suspend, delay, cancel, or refuse to process a Fund Transfer Order, including but not limited to the following circumstances:

- The Originator’s funds are insufficient.

- The Fund Transfer Order is incomplete, unclear, inaccurate, suspicious, or invalid.

- There are indications of fraud, unauthorized use, illegal activities, money laundering, terrorism financing, sanctions violations, or other activities that violate Applicable Laws and Regulations.

- The transaction is prohibited, restricted, or ordered to be blocked by a Regulator, law enforcement agency, court, bank, financial institution, payment partner, or other competent authority.

- There is a system, network, technical, operational, security, or partner disruption that prevents or may affect the execution of the transaction.

- Veloka reasonably determines that processing the transaction may expose Veloka, its Users, or its partners to legal, regulatory, operational, reputational, or financial risk.

6. Service Fees

Users are required to pay applicable service fees, transaction fees, administrative fees, or other charges for the use of the Services, as determined by Veloka and communicated through the Veloka Application/Platform, agreement, invoice, dashboard, or other official communication channel.

Veloka reserves the right to change its fees from time to time with prior notice to Users where required by Applicable Laws and Regulations.

Service fees may be deducted from the Originator’s funds, charged separately, added to the transferred amount, or applied through another mechanism determined by Veloka.

7. Changes and Cancellations

A Fund Transfer Order that has been submitted and accepted for processing by Veloka may not be cancelled, amended, or reversed unless permitted by Veloka, its partners, or Applicable Laws and Regulations.

Any request to change or cancel a Fund Transfer Order must be submitted by the Originator through the official channel designated by Veloka. Veloka will make reasonable efforts to assist with such request, but does not guarantee that the change, cancellation, or reversal can be successfully completed.

If a change or correction is required due to an error caused by Veloka, Veloka will take reasonable corrective steps in accordance with Applicable Laws and Regulations.

8. Refunds

If a transaction error occurs due to Veloka’s fault, Veloka will take reasonable steps to correct the error and, where applicable, return the funds to the Originator in accordance with Applicable Laws and Regulations.

If the error is caused by the Originator, including but not limited to incorrect Recipient information, incorrect account number, incorrect amount, or other inaccurate instructions, Veloka may assist in facilitating a refund request. However, the success of such refund shall depend on the approval, cooperation, and policies of the Recipient, recipient bank, payment partner, or other relevant parties.

Veloka shall not be liable for any unsuccessful refund caused by incorrect information provided by the User or by circumstances beyond Veloka’s reasonable control.

9. User Obligations

Users are obligated to:

- Maintain the confidentiality and security of account credentials, passwords, API keys, tokens, one-time passwords, authentication tools, and other access data.

- Ensure that all information submitted to Veloka is true, accurate, complete, current, and not misleading.

- Comply with all Applicable Laws and Regulations, including payment system, fund transfer, anti-money laundering, counter-terrorism financing, sanctions, tax, consumer protection, and data protection requirements.

- Use the Services only for lawful purposes.

- Not use the Services for fraud, scams, gambling, money laundering, terrorism financing, prohibited goods or services, unauthorized transactions, or activities that harm Veloka, other Users, partners, or third parties.

- Immediately notify Veloka of any unauthorized access, suspected fraud, security breach, or misuse of the User’s account or credentials.

10. User Warranties and Responsibilities

The User represents and warrants that all funds used in connection with the Services are legitimate and are not derived from criminal, illegal, fraudulent, or prohibited activities.

The User is fully responsible for any loss, claim, liability, or damage arising from the User’s negligence, misuse of account credentials, violation of these Terms and Conditions, or violation of Applicable Laws and Regulations.

The User agrees to indemnify and hold Veloka harmless from and against any claims, demands, losses, damages, penalties, costs, and expenses arising from the User’s breach of these Terms and Conditions, misuse of the Services, or violation of Applicable Laws and Regulations.

11. Limitation of Liability

Veloka will use commercially reasonable efforts to ensure that the Services operate properly and securely. However, Veloka shall not be liable for delays, failures, interruptions, losses, or damages arising from events beyond Veloka’s reasonable control, including but not limited to:

- system, network, internet, telecommunications, or electricity disruptions;

- failure or delay by banks, payment partners, financial institutions, or third-party service providers;

- force majeure events;

- cyberattacks, unauthorized access, malware, or security incidents not caused by Veloka’s gross negligence or willful misconduct;

- government actions, regulatory orders, court orders, or law enforcement actions;

- compliance with AML/CFT, sanctions, fraud prevention, or risk management requirements.

Any estimated completion time provided by Veloka for a transaction is an estimate only and shall not be deemed a binding guarantee.

Veloka shall not be liable for losses arising from the delay, rejection, suspension, blocking, or cancellation of transactions carried out in compliance with Applicable Laws and Regulations, regulatory requirements, partner requirements, or risk management procedures.

12. Governing Law

These Terms and Conditions shall be governed by and construed in accordance with the laws of [insert applicable jurisdiction, e.g., the Republic of Indonesia], unless otherwise required by mandatory applicable law.

13. Dispute Resolution Mechanism

Any dispute, controversy, or claim arising out of or in connection with these Terms and Conditions shall first be resolved amicably through consultation between the parties within 30 calendar days from the date one party notifies the other party of the dispute.

If the dispute cannot be resolved through consultation, the parties agree to resolve the dispute through the competent alternative dispute resolution institution, regulator-recognized dispute resolution forum, arbitration body, or court, as applicable under the relevant laws and agreements between the parties.

Unless otherwise agreed, the parties submit to the jurisdiction of the competent court in [insert court/jurisdiction].

14. Changes to Terms and Conditions

Veloka reserves the right to change, amend, modify, or supplement these Terms and Conditions from time to time. Any changes will be notified to Users through the Veloka Application/Platform, email, website, dashboard, or other reasonable communication channels.

The revised Terms and Conditions shall take effect from the date stated in the notice or from the date of publication. Continued use of the Services after the effective date of the revised Terms and Conditions constitutes the User’s acceptance of such revised Terms and Conditions.

15. Severability

If any provision of these Terms and Conditions is found to be invalid, unlawful, or unenforceable, the remaining provisions shall remain valid and enforceable to the fullest extent permitted by law.

16. Language

These Terms and Conditions may be made available in multiple languages. In the event of any inconsistency between language versions, the English version shall prevail, unless otherwise required by Applicable Laws and Regulations.