Alipay Service Agreement

The Alipay Service Agreement (being the Service Application Form below and all schedules, together with all addenda, being this “Agreement”) is entered into between Boswin Consultancy and Investment (Pvt) Ltd. as identified as B in Alipay service application form (“Boswin”) and the entity identified as A in Alipay service application form (“Company”), (each a “Party” and together the “Parties”), effective as of the Effective Date. 

 

Background 

Settlement to Company is to be undertaken by DFCC Bank PLC identified as C in Alipay service application form (“DFCC Bank”). Settlement to the Company is done to the bank account and currency mentioned in the Alipay service application form. Boswin is responsible to provide the settlement instructions daily to the DFCC Bank in conformity to the agreement. 

General 

    1. Due Diligence.  
      1. a. Where reasonably requested by Boswin at any time, Company will provide a copy of its constitutional documents (such as its incorporate registration documents) and such other relevant background or operational information as Boswin reasonably believes may assist it in assessing the Company (the “Due Diligence Obligations”).  
      2. b.Failure to comply with the Due Diligence Obligations will be a material breach of this Agreement.  
      3. c.Before Boswin provides the Boswin Services, Company will provide Boswin with all or such part of the following information as is requested by Boswin (collectively, the “Due Diligence Information”):  
        1. enterprise email address, 
        2. legal and beneficial owner information (NIC/Passport/business registration owner form), 
        3. business address confirmation (billing proof/government letter), 
        4. business name (registered and ‘trading as’ name), 
        5. business license documents , 
        6. screenshots of the online site or mobile application where Online Payment is offered, 
        7. URL of its online sites, and viii. any other relevant information upon Boswin’s reasonable request from time to time. 
    2. Legally Binding Agreement. By signing this Agreement or, in the event an electronic version of this Agreement is made available online, by clicking the button “I Confirm” or similar button, registering, accessing or using Boswin Services (collectively, “Indicated Consent”), Company enters into a legally binding agreement with Boswin and Company agrees to accept the terms and rules set out in this Agreement (including its schedules and addenda).  
        1. Counterparts. 
          1. This Agreement may be signed in writing or electronically and in one or more counterpart, each of which will be deemed an original and all of which will together constitute one and the same instrument.

 

Service Fee 

The Service Fee shall be applied at the rate set forth in the table below: 

The applicable rate for the Service Fee 
 1.5% to 2.5% of the transaction Amount (SriPay will confirm the rate before accepting as a Merchant

The Service Fee shall be deducted from each and every transaction amount before remit it to the bank account. 

 

(E) Company hereby agreed that Alipay payment solution will not use for the capital investment transactions or illegal or prohibited products transactions