Terms & Conditions

hese Banking Services Terms and Conditions (“Banking Services Terms”) govern the rights and obligations of our Bank Partners, Clients, Customers and Unit with respect to the Banking Services.  Bank Partner, Client, and Unit have the meanings set forth in the Banking Services Agreement and may each be referred to herein individually as a “Party” and collectively as the “Parties.”  These Banking Services Terms form a part of, and are incorporated by reference into, the Banking Services Agreement.

1. Definitions.   

1.1 “Applicable Law” This Banking terms is made subject to the Governing Laws of the Federal Republic of Nigeria Guiding Financial institutions; federal, state and local laws, central bank codes, statutes, and ordinances; regulations, rules, regulatory bulletins, and guidance; published court opinions, attorney general opinions, Payment Rules, requirements of a Governmental Authority (including, with respect to Bank Partner, supervisory findings, orders, determinations, communications, and recommendations of a Governmental Authority), and orders pursuant to a legal or regulatory proceeding, in each case as applicable to the subject matter of the Banking Services Agreement and Unit, Bank Partner, or Client.

1.2 “Banking Services” means all banking and other financial products and services provided by Bank Partner to Client and End Users pursuant to the Banking Services Agreement.

1.3 “Banking Services Agreement” or “BSA” means the agreement between Client, Bank Partner, and Unit governing the Banking

Services, including these Banking Services Terms and the Product Terms.

1.4 “Business Day” means Monday through Friday, excluding Nigerian Federal Government declared holidays.

1.5 That Client/Customer is expected to open account in our name and at any time subsequently to open further accounts as we may direct.

1.6 Honour all instructions/orders which may be drawn on the said account provided; such instructions/orders are signed by us without prejudice to your rights to refuse or allow any overdraft or increase of overdraft and in consideration of this, we agree.

1.7 To assume full responsibility for the genuineness, corrections and validity of endorsements appearing on all orders and other documents deposited in our account.

1.8 To be bound by the company’s rules for the conduct of an account(s) receipts of which we hereby acknowledge.

1.9 To free the company from any responsibility or liability for any loss or damage to funds transferred to the company due to any future government order, law, levy, tax, embargo, or such other causes beyond the company’s control.

2.0 That the company will accept no responsibility or liability whatsoever for funds handed to members of staff outside office hours or outside the company’s premises.

2.01 That our account statement shall be sent to the e-mail address indicated on the account opening form and from time to time such other information relevant to the account may be sent to the mobile telephone number indicted on the account opening form. That interest will be paid on fund in our investment account at the company’s ruling rates and subject to prevailing conditions.

2.02 That any change in my particulars provided on the application form shall immediately be communicated to Spring Sky Finance Company Limited.

2.03 Not to use accounts as a medium to convert funds belonging to other persons.

2.04 That our attention has been drawn to the necessity of safeguarding our account details, debit/credit card, other transaction instruments, Personal Identification Numbers (PIN), and code so that authorized persons are unable to gain access to them and to the fact that neglect of this precaution may be grounds for any consequential loss been charged to my account.

2.05 That the company is under no obligation to honour any order on our account unless there are sufficient funds to cover the value of the orders and we understand and agree that any such order(s) may be returned to us unpaid but if paid we are obliged to repay the company any outstanding sum on our account in addition to charges and interest accrued thereon.

2.06 That the company is authorised to debit from my account the usual charges, interest, commissions and any other service charge set by the company from time to time.

2.07 That in addition to any general lien or similar right to which you may be entitled by law, you may at anytime and without notice us combine or consolidate all or any of our accounts without any liabilities to you and to set off or transfer any sums of sums standing to the credit of anyone or more of such accounts or any other credit, be it cash, instruments, or other assets belonging to us towards the satisfaction of any of our liabilities be actual or contingent, primary or collateral and several or joint.

2.08 To comply with all rules and regulations issued by the Company governing the use of digital banking services which the Company may from time to time offer and provide us.

2.09 Honour all online instructions to transfer funds from the said account to another account held by me or any other person in Spring Sky Finance Company Limited or to make payment for services without prejudice to your rights to refuse or allow any overdraft and without liability to you for such transfer.

2.10 All authorizations shall remain in force until when notice to the contrary is received by the company, signed in accordance with the mandate.

2.11 I undertake not to use the mobile Banking facility for illegal or any purpose other than to carry out Banking transactions legally allowed in Nigeria and the Company reserves the right to stop the operation of the account if there’s a breach of this undertaking.

TERMS AND CONDITION cont.

The responsibilities of the Account Holder

1. Send account opening documentation and required documentation to amend existing mandates and other related instructions on the account as may be prescribed by the Company from time to time.
2. Ensure proper completion of signature cards.
3. Promptly send in cheque book requisition slip/letter.
4. Provide the company with specimen signatures of its authorized signatories.
5. Inform the Company immediately or any change(s) to the list of authorized signatories.
6. Complete necessary details for cheque payments.
7. Keep his/her/it’s cheque booklet properly and promptly notify Spring Sky Finance Company Ltd. the loss of a cheque booklet and/or detachment of leaves of a cheque booklet.
8. Shall assume full responsibility for the genuineness or and validity of all cheques, orders, bills, notes, negotiable instruments, receipts and/or other documents including endorsements appearing on the same, deposited in or drawn on in respect of his/her/it’s account(s) with the Company.
9. Shall be responsible for the repayment of any overdraft with interest and to comply and be bound by the Company’s rules for conduct of investment, current and other account(s) as may be determined by the Company from time to time.
10. Shall indemnify the Company against any loss, damage, expense or claim the Company may suffer by reason of opening the said account(s) or by reason of the falsehood or inaccuracy of any information or misinterpretation made to the Company by the Account Holder except those losses, damages, expenses or claims directly

resulting from the act, defaults or gross negligence of the Company.

• Shall hold the Company harmless and free of any liability whatsoever by an loss, damages, fraud or claims that the Account Holder may incur from the fraudulent use of any telephone number, fax number or email addressed supplied in this form or subsequently by the Account Holder whether for the purpose of issuing instructions, receiving/sending account information or indeed any transaction related to this account.

Rights of the Company

1. The company may debit the account(s) with usual charges, interest, commission, and fees as may be determined by the company from time to time.
2. The Company shall not be liable for any loss or diminution of funds or damage to instruments deposited with the Company due to any Government order, law, levy, tax, embargo, moratorium, exchange, restriction and/or all of other causes beyond the bank’s control.
3. The Company is under no obligation to honor any cheques drawn on the account(s) unless there are sufficient and unimpaired funds in the account to cover the value of the said cheques. The Company reserves the right to return such cheques to the account holder unpaid.
4. In the event that the Company honors a cheques where the amounts in the accounts is not sufficient to cover the value of the cheque, any amount drawn in excess of the value of the accounts shall be treated as an overdraft facility and the Account Holders agree to repay the Company the principal amount together wit the interests and/or charges that the Company may prescribe.

terms and conditions contd…

• The Account Holder shall be bound by any notification of changes in conditions governing the account directed to his/her/its last known address and any notice or letter sent to his/her/its known address shall be considered as duly delivered and received three business days after dispatch of same by ordinary pre-paid post or on the date endorsed on the proof of delivery if delivered by courier services/hand delivery.
• No notice which may be given to the Company by the Account Holder shall be binding upon the Company until it shall have been received by the Company and sufficient time shall have elapsed thereafter to permit the Company in due course and by such means the Company may deem appropriate to notify the concerned/affected departments offices, branches and correspondents.
• Any disagreement with entries on the Company’s statements will be made in writing to the Company by the Account Holder within 30 days of dispatch of the statement, failing which it will be concluded that the statement as rendered is correct and same shall no longer be disputable, except in case of manifest errors.
• If or where any entry is made into the Account Holder’s account(s) in error, the Company is entitled to dishonor.

Manifest Errors

1. If or where any entry is made into the Account Holder’s account(s) in error, the Company is entitled to dishonor cheques drawn upon such incorrect entry whether or not drawn I good faith and without any notice of error and whether the error has been corrected or not, and the Company is entitle to reverse such incorrect entry without prior consent of the Account

Holder and any liability on the part of the Company.

1. The Company may at any time and in absolute judgement close the account(s) and discharge all liabilities with respect to the account(s) by hand delivery or by mailing to the Account Holder by courier services a Company draft in the currency of the account without recourse to the Company as a drawer, payable to the order of the Account Holder in the amount of the then credit balance in the account(s) less fees, charges or commission to which you may be entitled by law or by any agreement between us and the Company together with such documents, if any, as may be necessary in your sole discretion, to transfer to us.
2. The Company will not be liable whatsoever for funds handed by the Account Holder or his/her/its representatives or agents or employees to any of the Company’s employees without the evidence receipt from the Company,
3. In addition to any general lien or right to which the Company may be entitled by law, the Company may at any time and without notice to the Account Holder combine or consolidate all or any of his/her/its accounts without liability to the Company and set oil or transfer any sum or sums standing to his/her/its credit in any one or more of such accounts or any other credit, be it cash, cheques, valuables, deposits, securities, negotiable instruments or other assets with the Company or any other respect whether such liabilities be actual or contingent, primary collateral, several or joint.
4. To affirm and undertake that all the documents used in opening the account(s) are genuine and we will indemnify the company if any time it is shown otherwise and we will be further liable for any wrong that may be occasioned thereby. This indemnity to you shall be continuing and shall not be withdrawn by us so long as we maintain this account with the Company.
5. The Account Holder and the Company agree that the operation of the account(s) is subject to laws and regulations at any time existing in the Federal republic of Nigeria, and to be bound by the terms and conditions herein.

To complete your return, we require a receipt or proof of purchase.

Please do not send your purchase back to the manufacturer.

There are certain situations where only partial refunds are granted:

• Book with obvious signs of use
• CD, DVD, VHS tape, software, video game, cassette tape, or vinyl record that has been opened.
• Any item not in its original condition, is damaged or missing parts for reasons not due to our error.
• Any item that is returned more than 30 days after delivery