1. THE AGREEMENT

  • 1.1. This Agreement sets out the complete Terms and Conditions (hereinafter called "these Terms and Conditions") which shall be applicable to the Fortune E-Cash (as hereinafter defined) opened by you (as hereinafter defined) with the Fortune Sacco (as hereinafter defined).
  • 1.2. These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.
  • 1.3. The Member accepts and acknowledges that this is a legal and binding agreement between the Member and the Sacco once accepted by both parties.

    • 2. Definitions in these Conditions

  • 2.1 “Fortune E-Cash” means a Sacco Mobile account held by a Member with the Sacco and which is opened and operated in accordance with the terms and conditions herein contained;
  • 2.2 “Sacco” or “Fortune Sacco Ltd ” means Fortune Sacco Ltd incorporated in Kenya as a limited liability company under the Companies Act and duly licensed as a Sacco under the Co-operative Societies Act (Cap 490 of the Laws of Kenya) and includes subsidiaries of the Sacco as may from time to time be specified by the Sacco to you;
  • 2.3 “Member”means the person in whose name the Fortune E-Cash account with the Sacco is existing;
  • 2.4 “Contact Centre” means the Sacco’s Member Care Centre, branches or such other retail outlets or outlets as may be notified to the Member by the Sacco from time to time;
  • 2.5 “E-Money”means the electronic monetary value depicted in your Fortune E-Cash representing an equal amount of cash;
  • 2.6 “Equipment” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;
  • 2.7 “IPRS”means the Integrated Population Registration System set up and maintained by the Government of Kenya under the Ministry of State for Immigration and Registration of Persons;
  • 2.8 “KYC” means Know Your Customer
  • 2.9 “Fortune E-Cash”means your mobile money store of value, being the record maintained by the Sacco of the amount of E-Money from time to time held by you in the Mobile Money System;
  • 2.10 “Mobile Money Menu” means the Menu on the Mobile Money System;
  • 2.11 “Mobile Money PIN” means your personal identification number being the secret code used to access and operate the Mobile Money System and your Fortune E-Cash;
  • 2.12 “Mobile Money Service” means any person registered to use the Mobile Money System to send or receive money or make payments;
  • 2.13 “Mobile Money Subscriber” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;
  • 2.14 “Mobile Money System” means the system operated by the Sacco for the provision of the Mobile Money Service using the Network;
  • 2.15 “Network” means the mobile cellular network operated by various mobile telecommunications networks;
  • 2.16 “Request” means a request or instruction received by the Sacco from you or purportedly from you through the Network and the System and upon which the Sacco is authorized to act;
  • 2.17 “Services” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;
  • 2.18 “SIM Card” shall include any form of Sacco services or products that the Sacco may offer you pursuant to this Agreement as shown in Appendix A and as you may from time to time subscribe to and “Service” shall be construed accordingly;
  • 2.19 “SMS” 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 System;
  • 2.20 “System” means the Sacco’s electronic and communications software enabling the Member to communicate with the Sacco for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through the Mobile Money System;
  • 2.21 “Transaction Fees” includes the Mobile Sacco charges payable for the use of the Services as published by the Sacco on the Sacco’s website and/or the daily newspapers in Kenya and/or in the Sacco’s branches outlets or by such other means as the Sacco shall in its sole discretion determine. The Transaction Fees are subject to change at any time at the Sacco’s sole discretion;
  • 2.22 “We,” “our,” and “us,” means the Sacco and includes its successors in title and assigns;
  • 2.23 "You" or "your" means the Member and includes your personal representatives and heirs;
  • 2.24 The word “Member” shall include the masculine and the feminine gender as well as juristic persons;
  • 2.25 Words importing the singular meaning where the context so admits include the plural meaning and vice versa.
  • 2.26 Headings in these Terms and Conditions are for convenience purposes only and they do not affect the interpretation of this Agreement.

    • 3. ACCEPTANCE OF THE TERMS AND CONDITIONS

    • 3.1 Before operating the Fortune E-Cash via the MOBILE MONEY System you should carefully read, understand and accept these Terms and Conditions which will govern the use and operation of the Fortune E-Cash.
    • 3.2 If you do not agree with these Terms and Conditions, click “Decline” on the MOBILE MONEY Menu and you will not be allowed to operate your Fortune E-Cash.
    • 3.3 You shall be deemed to have read, understood and accepted these Terms and Conditions:-
      • 3.3.1 Upon clicking on the “Accept” option on the Mobile Money Menu requesting you to confirm that you have read, understood and agreed to abide with these Terms and Conditions; and/or-
      • 3.3.2 by using or continuing to use and operate the Fortune E-Cash.
    • 3.4 By applying to open the Fortune E-Cash with the Sacco, you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Fortune E-Cash and you affirm that these Terms and Conditions herein are without prejudice to any right that the Sacco may have with respect to the Fortune E-Cash in law or otherwise.
    • 3.5 These Terms and Conditions may be amended or varied by the Sacco from time to time and the continued use of your Fortune E-Cash constitutes your agreement to be bound by the terms of any such amendment or variation.
    • 3.6 You acknowledge and accept that the Sacco offers the Fortune E-Cash only electronically and you agree to do business with the Sacco and to operate the Fortune E-Cash only via the Mobile Money System. Any query and complaint you may have relating to the Services shall be addressed to the Sacco through the Contact Centre and through any Fortune Sacco Ltd Branch. For the avoidance of doubt, you acknowledge and accept that you will not be allowed or entitled to receive or demand the Services pertaining to the Fortune E-Cash at any branch or branches of the Sacco, or via the Sacco’s system unless and until you go through the stipulated KYC requirements or otherwise advised by the Sacco in its sole discretion. You further acknowledge and accept that the Member Care Centre is not a branch of the Sacco or the Sacco’s Agent for purposes of conduction of Sacco business or transactions and that it will not act as such.

    4. ACCOUNT OPENING

    • 4.1 In order to open a Fortune E-Cash with the Sacco, you must be at least 18 years old with legal capacity to contract, and a registered and active Mobile Subscriber with a mobile service provider with which the Sacco has an agreement with for the provision of this service. The Sacco reserves the right to verify with the IPRS the authenticity of your details.
    • 4.2 You may open a Fortune E-Cash solely by way of an electronic application made by you using your Equipment via the Mobile Money Menu on the Mobile Money System.
    • 4.3 You hereby agree and authorize the Sacco to request IRPS for your personal information held by IPRS pursuant to the agreement between you and Fortune Sacco Ltd for the provision of Mobile Sacco products and services including your phone number, name, date of birth, ID or Passport Number and such other information that will enable the Sacco to identify you and comply with the regulatory KYC requirements (together the “Personal Information”). You also hereby agree and authorize the Sacco to request IPRS information relating to your ID as the Sacco shall require for purposes of providing you the Services. You hereby consent to the disclosure of the Personal Information by IPRS to the Sacco and to the aforesaid use of the Personal Information by the Sacco.
    • 4.4 You hereby agree and authorize the Sacco 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 Sacco.
    • 4.5 You hereby further acknowledge and authorize the Sacco to verify your Personal Information received from Mobile Network pursuant to Clause 4.3 against the information received from the Government of Kenya in your respect as contained in the IPRS.
    • 4.6 The Sacco reserves the right to request for further information from you pertaining to your application for a Fortune E-Cash at any time. Failure to provide such information within the time required by the Sacco may result in the Sacco declining to accept your application for a Fortune E-Cash.
    • 4.7 Acceptance by the Sacco of your application for a Fortune E-Cash shall be done via SMS sent to the Mobile Phone Number associated with your Fortune E-Cash. You acknowledge and accept that the acceptance by the Sacco of your application for a Fortune E-Cash does not create any contractual relationship between you and the Mobile Network beyond the terms and conditions that apply to your Fortune E-Cash from time to time.
    • 4.8 The Sacco reserves the right to decline your application for a Fortune E-Cash or to revoke the same at any stage at the Sacco’s sole discretion and without assigning any reason or giving any notice thereto.

    5. TYPES OF ACCOUNT

    As a holder of a Fortune E-Cash, you will be entitled, subject to these Terms and Conditions, to operate a Mobile Money deposit account (hereinafter the “Mwallet Deposit Account”) into which you may transfer money from your Fortune E-Cash and/or make withdrawals there from into your Fortune E-Cash, and/or to borrow money from the Sacco as follows:

    • 5.1 Fortune E-Cash Loan Accounts
      • 5.2.1 As a holder of the Fortune E-Cash Loan Accounts, you may, subject to these Terms and Conditions, apply for a loan from the Sacco using the Mobile Money Menu on your Equipment.
      • 5.1.2 Where you apply for a loan from the Sacco, your application shall be appraised according to the applicable loan appraisal processes of the Sacco. The Sacco reserves the right at its sole discretion and without assigning any reason to approve or decline your application for a loan.
      • 5.2.3 Subject to approval of your application for a loan the Sacco shall disburse to you a loan of an amount to be determined by the Sacco in its sole discretion subject to a minimum and maximum amount as indicated in Appendix B hereinafter or such other minimum or maximum amount as the Sacco may from time to time in its sole discretion determine (the “Loan”). The Loan disbursed shall be pegged to the loan product applied for and advanced to the Member.
      • 5.2.4 The proceeds of the Loan shall be credited into your Fortune Sacco Mwallet Account or Mpesa account subject to any deductions on account of applicable Transaction Fees.
      • 5.2.5 You shall repay the Loan within the stipulated number of days after disbursement of loan as per the Appendix B below.
      • 5.2.6 In consideration of the Sacco granting you the Loan, you shall pay the Sacco a facility fee being a percentage of the Loan amount as indicated in Appendix B (the “Facility Fee”). The Facility Fee shall either be recovered upfront or in arrears in addition to the Loan, dependent on the Loan product.
      • 5.2.7 You shall make all payments due from you to the Sacco in respect of the Loan and Transaction Fees using the Mobile Money Service and the System only unless otherwise agreed by the Sacco in its discretion.
      • 5.2.8 In the event that you do not repay the Loan/ any monthly installment in full within stipulated period per product as per Appendix B, The Sacco will automatically demand the immediate payment of the outstanding amount due in respect of your Loan.
      • 5.2.9 The Sacco shall be entitled to terminate this Agreement and close your Fortune E-Cash in accordance with the provisions of Clause 13 without prejudice to any of its rights accruing hereunder if you fail to repay the Loan and/or the Transaction Fees due thereon on the due date of the Loan and shall have no option but to exercise any of the remedies below against you, to recover the said outstanding amount at your risk as to costs and expenses arising without further reference to you;
        1. Appoint External Debt Collectors.
        2. File suit against you.
      • 5.2.10 The Sacco reserves the right to vary the terms of the Loan including the fees payable thereon from time to time having regard to the prevailing rules and regulations of the Sacco Society Regulatory Authority and the policies of the Sacco.
      • 5.2.11 The Sacco shall have a right of lien and set off over funds held by you in your Mobile Money Deposit Account and/or any other account held by you in the Sacco. The Sacco also has the discretion to consolidate your Mobile Money loan with any other existing loan facility you may have with the Sacco
      • 5.2.12 You hereby expressly consent and authorize the Sacco to disclose, respond, advise exchange and communicate the details or information pertaining to your Fortune E-Cash to Credit Reference Bureaus as required under the Banking Act.
      • 5.2.13 You are responsible for the safeguarding of your PIN number and any other relevant information pertaining to your account. It is your responsibility to report to the Sacco any breach of the sanctity of that information. Unless otherwise advised to the Sacco and the advice officially acknowledged, it will be taken that any transactions and instructions from your registered devices are instructions from you and as such, the Sacco will not be held liable should any dispute arise.
      • 5.2.14 You hereby accept not to hold the Sacco liable for technical and/or system related challenges/break downs whether from the Sacco or any other 3rd party in provision of the service that may cause the transactions requested to delay or be cancelled.

    6 FEES

    • 6.1 You hereby agree to pay all Fees payable in connection with your use of the Services.
    • 6.2 You shall pay to the Sacco and the Sacco is entitled to deduct from your Fortune E-Cash (without further reference to you):
      • 6.2.1 any Transaction Fees payable in respect of the Mobile Money Services;
      • 6.2.2 any Facility or Interest Fees payable in respect of the Mobile Money Services;
      • 6.2.3 any legal charges including advocate and client costs incurred by the Sacco in obtaining legal advice in connection with your Fortune E-Cash and your dealings with the Sacco or incurred by the Sacco in any legal, arbitration or other proceedings arising out of any dealings in respect of your Fortune E-Cash; and
      • 6.2.4 all other fees, expenses and taxes, duties, impositions and expenses incurred in complying with your Requests

    7 eCash Mobile Loan

    Quick win mobile loan is a product offered within the eCash channel. This loan will be provided by Fortune Sacco to its members who have registered on the eCash application or uses our USSD service at *638#.
    The current loan repayment period is 30 days from the day a loan is disbursed to the user. For the purposes of this clause, Services would include any other future services the Company provides/proposes to provide.

    • 7.1 You must agree to grant the Sacco permission to access any data required to appraise your loan limit:
      • 7.1.1 your credit reference bureau(CRB) report
      • 7.1.2 your location: permission enables Fortune eCash to get your current location.
      • 7.1.3 Read SMS: permission is required to read, upload and analyze SMS from other financial institution
    • 7.2 You hereby agree and shall pay to the Sacco and the Sacco is entitled to deduct from your Fortune Account (without further reference to you):
      • 7.2.1 any Transaction Fees payable in respect of the Mobile Money Services;
      • 7.2.2 any Facility or Interest Fees payable in respect of the Mobile Money Services;
      • 7.2.3 any legal charges including advocate and client costs incurred by the Sacco in obtaining legal advice in connection with your Fortune E-Cash and your dealings with the Sacco or incurred by the Sacco in any legal, arbitration or other proceedings arising out of any dealings in respect of your Fortune E-Cash; and
      • 7.2.4 all other fees, expenses and taxes, duties, impositions and expenses incurred in complying with your Requests.

    7. STATEMENTS

    • 7.1 You may request for a statement or activity report in respect of your Fortune E-Cash from the Sacco using your Equipment (“Mobile Money Mini Statement”).
    • 7.2 A Mobile Money Mini Statement shall provide details of the last 5 (five) transactions (or such other number of transactions as determined by the Sacco) in your Fortune E-Cash initiated from your Equipment.
    • 7.3 A Mobile Money Mini Statement shall not be sent to you in printed form but shall be delivered to you either by SMS to the Mobile Phone Number associated with your Fortune E-Cash or such other electronic means as the Sacco may in its discretion determine. You shall be responsible for the payment of any charges levied by the Sacco in delivering the Mobile Money Mini Statement to you.
    • 7.4 You may obtain printed Mobile Money Mini Statements or a printed Sacco statement pertaining to your Fortune E-Cash from the Member Care Centre. You shall be responsible for the payment of any charges levied by the Member Care Centre for such printed statements.
    • 7.5 Save for a manifest error, any Mobile Money Mini Statement or Sacco statement issued to you aforesaid in respect of your Fortune E-Cash shall be conclusive evidence of the transactions carried out on your Fortune E- Cash for the period covered in the Mobile Money Mini Statement and/or Sacco statement.

    8. IRREVOCABLE AUTHORITY OF THE SACCO

    • 8.1 It is your sole responsibility to familiarize yourself with the operating procedures for the service as will be provided by the Sacco upon your registration to the Service. The Sacco will not be liable for any losses incurred as a result of your errors either of commission and/or omission.
    • 8.2 You hereby irrevocably authorize the Sacco to act on all Requests received by the Sacco from you (or purportedly from you) through the System and to hold you liable in respect thereof, notwithstanding that any such requests are not authorized by you or are not in accordance with any existing mandates given by you.
    • 8.3 If you request the Sacco to cancel any transaction or instruction after a Request has been received by the Sacco from you, the Sacco may at its absolute discretion cancel such transaction or instruction but shall have no obligation to do so.
    • 8.4 The Sacco 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 its absolute discretion, the Sacco believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.
    • 8.5 The Sacco is authorized to effect such orders in respect of your Fortune E-Cash as may be required by any court order or competent authority or agency under the applicable laws.
    • 8.6 In the event of any conflict between any terms of any Request received by the Sacco from you and these Terms and Conditions, these Terms and Conditions shall prevail.

    9. MEMBER’S EQUIPMENT AND MEMBER’S RESPONSIBILITIES

    • 9.1 You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.
    • 9.2 You shall be responsible for ensuring the proper performance of your Equipment. The Sacco shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall the Sacco be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and the Sacco shall not be responsible for losses or delays caused by any such service provider.
    • 9.3 You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the Sacco concerning the use of the System and Services.
    • 9.4 You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your Mobile Money PIN secret and secure. You shall ensure that your Mobile Money PIN does not become known or come into possession of any unauthorized person. The Sacco shall not be liable for any disclosure of your Mobile Money PIN to any third party and/or transactions effected by them and you hereby agree to indemnify and hold the Sacco harmless from any losses resulting from any Mobile Money PIN disclosure.
    • 9.5 You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from the Sacco are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected.
      • 9.6.1 You have reason to believe that your Mobile Money PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or
      • 9.6.2 You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.
    • 9.7 You shall at all times follow the security procedures notified to you by the Sacco from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Fortune E-Cash’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.
    • 9.8 You shall not at any time operate or use the Services in any manner that may be prejudicial to the Sacco.

    10. EXCLUSION OF LIABILITY

    • 10.1 The Sacco shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of (a) the failure of any of your Equipment, or (b) any other circumstances whatsoever not within the Sacco’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, and failure of any public or private telecommunications system.
    • 10.2 The Sacco will not be liable for any losses or damage suffered by you as a result of or in connection with:-
      • 10.2.1 Unavailability of sufficient funds in your Fortune E-Cash and/or in your Fortune Sacco core Accounts;
      • 10.2.2 Failure, malfunction, interruption or unavailability of the System, your Equipment, the Network, MOBILE MONEY System and/or MOBILE MONEY Service;
      • 10.2.3 The money in your Fortune E-Cash being subject to legal process or other encumbrance restricting payments or transfers thereof;
      • 10.2.4 Your failure to give proper or complete instructions for payments or transfers relating to your Fortune E- Cash;
      • 10.2.5 Any fraudulent or illegal use of the Services, the System and/or your Equipment; or
      • 10.2.6 Your failure to comply with these Terms and Conditions and any document or information provided by the Sacco concerning the use of the System and the Services.
    • 10.3 If for any reason other than a reason mentioned in subparagraphs 10.1 or 10.2, the Services are interfered with or unavailable, the Sacco’s sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.
    • 10.4 Save as provided in subparagraph 10.3 the Sacco shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.
    • 10.5 Under no circumstances shall the Sacco 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 the Sacco.
    • 10.6 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

    11. INTELLECTUAL PROPERTY RIGHTS

    You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that the Sacco provides to you through the System or otherwise are vested either in the Sacco or in other persons from whom the Sacco has a right to use and to sub-license the System and/or the said documentation. 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 Sacco.

    12. INDEMNITY

    • 12.1 In consideration of the Sacco complying with your instructions or Requests in relation the Fortune E-Cash, you undertake to indemnify the Sacco and hold it harmless against any loss, charge, damage, expense, fee or claim which the Sacco suffers or incurs or sustains thereby and you absolve the Sacco from all liability for loss or damage which you may sustain from the Sacco acting on your instructions or requests or in accordance with these Terms and Conditions.
    • 12.2 The indemnity in clause 12.1 shall also cover the following:
      • 12.2.1 All demands, claims, actions, losses and damages of whatever nature which may be brought against the Sacco 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 Sacco’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 the Sacco.
      • 12.2.2 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.
      • 12.2.3 Any unauthorized access to your Fortune E-Cash 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.
      • 12.2.4 Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions 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 the Sacco as a consequence of any breach of these Terms and Conditions.
      • 12.2.5 Any damages and costs payable to the Sacco in respect of any claims against the Sacco for recompense for loss where the particular circumstance is within your control.

    13. TERMINATION

    • 13.1 The Sacco may at any time, upon notice to you, terminate or vary its business relationship with you and close your Fortune E-Cash and in particular but without prejudice to the generality of the foregoing the Sacco may cancel credits which it has granted and require the repayment of outstanding debts resulting therefrom within such time as the Sacco may determine.
    • 13.2 Without prejudice to the Sacco rights under clause 13.1, the Sacco may at its sole discretion suspend or close your Fortune E-Cash:
      • 13.2.1 if you use the Fortune E-Cash for unauthorized purposes or where the Sacco detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
      • 13.2.2 if your Fortune E-Cash or agreement with Mobile Network is terminated for whatever reason;
      • 13.2.3 if the Sacco is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
      • 13.2.4 if the Sacco reasonably suspects or believes that you are in breach of these Terms and Conditions;
      • 13.2.5 where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety;
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      • 13.2.6 to facilitate update or upgrade the contents or functionality of the Services from time to time;
      • 13.2.7 where you remain inactive for any period of time determined by the Sacco in its reasonable discretion; or
      • 13.2.8 If the Sacco decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.
    • 13.3 You may close your Fortune E-Cash at any time at any Fortune Sacco Ltd Branch.
    • 13.4 If your Fortune E-Cash has any credit balance at the time of its closure, we will return any such balance to you, less any applicable fees.
    • 13.5 Termination shall however not affect any accrued rights and liabilities of either party.
    • 13.6 If the Sacco receives notice of your demise or incapacity to contract, the Sacco will not be obliged to allow any operation or withdrawal from your Fortune E-Cash by any person except upon production of Grants of Letters of Administration or Probate by your legal representatives duly appointed by the Court.

    14. DISCLOSURE OF INFORMATION

    • 14.1 You hereby expressly consent and authorize the Sacco to disclose receive record or utilize your personal information or information or data relating to your Fortune E-Cash and any details of your use of the Services:
      • 14.1.1 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;
      • 14.1.2 to and from the Sacco’s service providers, dealers, agents or any other company that maybe or become the Sacco’s subsidiary or holding company for reasonable commercial purposes relating to the Services;
      • 14.1.3 to the Sacco’s lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;
      • 14.1.4 to Mobile Network in connection with the Mobile Money Service and the Services;
      • 14.1.5 for reasonable commercial purposes connected to your use of the Services, such as marketing and research related activities; and
      • 14.1.6 in business practices including but not limited to quality control, training and ensuring effective systems operation.

    15. MISCELLANEOUS

    • 15.1 These Terms and Conditions (as may be amended from time to time) form a legally binding agreement binding on you and your personal successors.
    • 15.2 This Agreement and any rights or liabilities accruing thereunder may not be assigned by you to any other person.
    • 15.3 The Sacco may vary or amend at any time and without notice to you these Terms and Conditions and the Transaction Fees. Any such variations or amendments may be published in posters or pamphlets available at Mobile Network’s Agents outlets, in the daily newspapers, on the Sacco and/or Mobile Network’s website and/or by any other means as determined by the Sacco and any such variations and amendments shall take effect immediately upon publication.
    • 15.4 No failure or delay by either yourself or the Sacco in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.
    • 15.5 The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
    • 15.6 If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions herein.
    • 15.1 Any addition or alteration to these Terms and Conditions may be made from time to time by the Sacco and of which notice has been given to you by way of publication as provided in subparagraph 15.3 shall be binding upon you as fully as if the same were contained in these Terms and Conditions.

    16. NOTICES

    • 16.1 The Sacco may send information concerning the Fortune E-Cash via SMS to the Mobile Network Mobile Phone number associated with your Fortune E-Cash.
    • 16.2 You acknowledge that you have no claim against the Sacco for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to the Fortune E-Cash.

    17. DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION

    • 17.1. You may contact the Contact Centre to report any disputes, claims or Fortune E-Cash discrepancies.
    • 17.2. Any dispute arising between the parties and which is not amicably resolved shall be subject to the Courts of Kenya at the election of either party.

    APPENDIX A:

    Mobile Sacco Services
    Internal Account Transfers Mobile Money Billers
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