Terms of Service

Welcome to M'Bongo. By accessing or using our application, you agree to be bound by these Terms of Service.

1. Introduction

These Terms of Service govern your use of M'Bongo's financial application, including all features, content, and services provided. M'Bongo is a hybrid financial platform that combines traditional mobile money services with digital assets, specifically stablecoins.

2. User Eligibility

You must be at least 18 years old to use M'Bongo. By creating an account, you confirm that you meet this requirement and have the legal capacity to enter into a binding agreement.

Our services are available only in officially supported countries in Africa. You must be a resident of one of these countries or have valid documentation to use our services within these jurisdictions.

3. Account Registration and KYC

To use M'Bongo services, you must complete our registration process and provide accurate, current, and complete information about yourself as requested. This includes but is not limited to:

• Full legal name
• Valid phone number
• Email address
• Date of birth
• Government-issued ID or passport
• Proof of address
• Additional information as required by local regulations

We may use third-party services to verify your identity and perform Know Your Customer (KYC) procedures in compliance with applicable laws and regulations.

4. Account Security

You are responsible for maintaining the confidentiality of your account information and any activities that occur under your account. This includes safeguarding your:

• Biometric authentication data
• Wallet recovery phrases
• Private keys
• One-time passwords (OTPs)
• Authentication devices

You must notify us immediately of any unauthorized use of your account or any other breach of security. We will not be liable for any loss or damage arising from your failure to comply with this section.

5. Mobile Money Services

Our mobile money services allow you to:

• Send and receive money to and from other M'Bongo users
• Pay utility bills
• Pay merchants

These services are subject to local regulations and may vary by country. Transaction limits and fees apply and are detailed in our Fee Schedule.

6. Stablecoins & Digital Assets

M'Bongo supports the sending, receiving, and storage of stablecoins and other digital assets. By using these services, you acknowledge and agree to the following:

• Stablecoins are digital assets that aim to maintain a stable value relative to a reference asset (e.g., USD)
• Despite being designed for stability, stablecoins may experience price fluctuations, and M'Bongo does not guarantee their value
• Cryptocurrency transactions are irreversible
• M'Bongo is not liable for any loss resulting from user error, blockchain network issues, or market volatility
• You are responsible for ensuring the correctness of wallet addresses before initiating transactions
• Transactions sent to incorrect addresses cannot be reversed or recovered

Users are responsible for ensuring compliance with local regulations regarding cryptocurrency ownership and transactions.

7. Conversion Between Fiat and Stablecoins

M'Bongo provides conversion services between local fiat currencies and stablecoins. These conversions are subject to:

• Exchange rates determined by M'Bongo
• Conversion fees as detailed in our Fee Schedule
• Daily and monthly transaction limits
• Availability of liquidity
• Compliance with local regulations

We reserve the right to suspend or reject any conversion request that we believe may violate applicable laws or our policies.

8. International Transfers

M'Bongo facilitates international transfers between supported African countries. These transfers may involve:

• Conversion between local currencies
• Temporary conversion to stablecoins as an intermediary step
• Compliance with international remittance regulations
• Additional verification procedures for large transfers

9. Fees and Charges

M'Bongo charges fees for various services, including but not limited to:

• Money transfers
• Bill payments
• Currency conversions
• Stablecoin transactions
• International transfers

All fees are clearly displayed before you confirm a transaction. We reserve the right to modify our fee structure with appropriate notice.

10. Anti-Money Laundering and Counter-Terrorist Financing

M'Bongo is committed to preventing the use of our services for money laundering, terrorist financing, and other illegal activities. We implement strict AML and CTF policies and procedures, including:

• Verifying user identity
• Monitoring transactions
• Reporting suspicious activities to relevant authorities
• Implementing risk-based controls
• Conducting regular compliance audits

You agree to provide any additional information or documentation that we may request to comply with these requirements.

11. Privacy and Data Protection

Your personal data will be handled in accordance with our Privacy Policy. We implement appropriate technical and organizational measures to protect your data and comply with applicable data protection laws.

By using our services, you consent to the collection, processing, and sharing of your personal data as described in our Privacy Policy.

12. Prohibited Activities

You may not use M'Bongo services for:

• Illegal activities or to facilitate illegal transactions
• Money laundering or terrorist financing
• Fraudulent activities
• Circumventing capital controls or currency restrictions
• Violating sanctions or embargoes
• Harassing, abusing, or threatening others
• Any activities that violate these Terms of Service

Violation of these prohibitions may result in immediate termination of your account and potential legal action.

13. Intellectual Property

All content, features, and functionality within M'Bongo, including but not limited to text, graphics, logos, icons, and software, are owned by M'Bongo or its licensors and are protected by copyright, trademark, and other intellectual property laws.

You may not reproduce, distribute, modify, create derivative works from, publicly display, or otherwise use any of M'Bongo's intellectual property without our prior written consent.

14. Limitation of Liability

To the maximum extent permitted by applicable law, M'Bongo and its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, use, or goodwill, resulting from:

• Your use or inability to use our services
• Unauthorized access to or alteration of your transmissions or data
• Statements or conduct of any third party on our service
• Fluctuations in stablecoin or cryptocurrency values
• Failures or delays in blockchain networks
• Technical failures or interruptions in our service

Our total liability to you for any damages shall not exceed the amount you have paid us in the six months preceding the event giving rise to the liability.

15. Indemnification

You agree to indemnify and hold harmless M'Bongo and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses, including without limitation reasonable legal and accounting fees, arising out of or in any way connected with your violation of these Terms of Service or your use of M'Bongo services.

16. Termination

We reserve the right to terminate or suspend your account and access to M'Bongo services, with or without notice, for any reason, including but not limited to:

• Violation of these Terms of Service
• Engaging in prohibited activities
• Providing false or misleading information
• Inactivity for an extended period
• Upon request from regulatory authorities

Upon termination, your right to use M'Bongo services will immediately cease. If you wish to terminate your account, you may simply discontinue using our services or contact us to request account closure.

17. Changes to Terms

We may update these Terms of Service from time to time. We will notify you of significant changes by posting a notice on our website or sending you an email. Your continued use of M'Bongo after such modifications constitutes your acceptance of the updated terms.

18. Governing Law

These Terms of Service shall be governed by and construed in accordance with the laws of the jurisdiction in which M'Bongo is incorporated, without regard to its conflict of law provisions.

19. Dispute Resolution

Any dispute arising out of or relating to these Terms of Service shall first be attempted to be resolved through good-faith negotiations. If such negotiations fail, you agree that any dispute will be submitted to binding arbitration in accordance with the rules of the arbitration association in the jurisdiction where M'Bongo is incorporated.

You agree to waive any right to bring a class action lawsuit or to resolve disputes on a class-wide basis. You also agree that disputes must be brought on an individual basis.

20. Force Majeure

M'Bongo shall not be liable for any failure or delay in performing its obligations if such failure or delay is due to circumstances beyond its reasonable control, including but not limited to natural disasters, acts of government, civil unrest, network failures, or other force majeure events.

21. Severability

If any provision of these Terms of Service is found to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that the Terms shall otherwise remain in full force and effect and enforceable.

22. Entire Agreement

These Terms of Service constitute the entire agreement between you and M'Bongo regarding your use of our services and supersede all prior agreements and understandings, whether written or oral.

23. Assignment

You may not assign or transfer these Terms of Service or your rights under these Terms of Service, in whole or in part, by operation of law or otherwise, without our prior written consent. We may assign these Terms of Service in whole or in part at any time without your consent.

24. Third-Party Services

M'Bongo may integrate with third-party services to provide additional features. Your use of such third-party services is subject to their respective terms of service and privacy policies. M'Bongo is not responsible for the practices of any third-party service.

25. Blockchain Network Conditions

Transactions involving stablecoins and other digital assets are subject to blockchain network conditions, including network congestion, high transaction fees, and processing delays. M'Bongo is not responsible for any issues arising from blockchain network conditions.

You acknowledge that blockchain transactions may incur network fees that are separate from M'Bongo's service fees and that these network fees may fluctuate based on network conditions.

26. Regulatory Compliance

M'Bongo operates in a regulated environment and must comply with various financial regulations. This may require us to:

• Impose transaction limits
• Restrict certain features in specific jurisdictions
• Suspend accounts pending additional verification
• Report certain transactions to regulatory authorities
• Comply with legal orders and government requests

You agree to cooperate with any compliance requirements and understand that M'Bongo may be legally obligated to take certain actions without prior notice.

27. Contact Information

If you have any questions about these Terms of Service, please contact us at:

Email: legal@mbongo.com
Address: [Company Address]
Customer Support: support@mbongo.com