User Agreement

SemiCash provides services under the following terms and conditions which you must agree to abide prior to using our services

This User Agreement ("Agreement") is a contract between you and SemiCash E-payment Ltd. It applies to your use of the SemiCash third-party payment processing service and any related products and services ("Service") available through ("Site"). If you do not agree to be bound by the terms and conditions of this Agreement, please do not use this Site or any of the Services.

SemiCash may amend this Agreement at any time by posting a revised version on the Site. Except as stated, all amendments will be effective 30 days after they are posted on this Site. Notices of upcoming changes will be posted on our blog and on notification pages posted in your SemiCash account.

In this Agreement, "you" or "your" means any person or entity ("Users") using the Service. Unless otherwise stated, "SemiCash", "we" or "our" will refer collectively to SemiCash E-Payment Ltd., its officers, directors, agents, subsidiaries, joint ventures, employees and suppliers.

1.0 Eligibility

To use the Service, you must register through the Site for an account ("Account"). With their affiliates, a single User may hold only one account through the Site.

Both Sellers and Buyers of products and services ("Products") can use the Service. Unless otherwise stated, all provisions in this Agreement apply to both Sellers and Buyers.

You agree that any information you give to us ("User Information") will stay in our records unless otherwise agreed upon.

You agree that we do not need additional consent to store, use and transmit data to third parties in the performance of our customer support duties and due diligence for detection of money laundering and terrorist funding.

1.1 Warranties

You represent and warrant that all of the following are true of you and your affiliates from your entry into this Agreement until the termination of your Account:

  • If you are an entity other than an individual, you have the legal capacity to enter into this Agreement and perform the obligations represented within it.
  • If you are an individual, then you are at least 18 years of age and do not require the consent, approbation or approval of any other person or entity to conclude a contractual obligation of the type represented in this Agreement.
  • Your execution of and performance under this Agreement in no way violates any legal obligation of the Seller, including any agreement between or among Seller(s) and any third party(ies).
  • If you are a Seller, you sell through your website only Products that are available for delivery in the normal course of your business.
  • You offer Products for sale only if you have the legal right to market and sell such Products in all applicable jurisdictions.
  • You maintain the value and reputation of SemiCash to the best of your ability.
  • You conduct your business affairs according to the terms and intent of this Agreement and in compliance with all applicable laws and regulations.
  • You do not use our Services for any activities considered fraudulent or illegal under any laws or regulations in any applicable jurisdiction.
  • You do not permit or authorize any other person or entity to use our Services without our written consent.
  • You transmit to SemiCash only information and data that has been collected and transmitted in full compliance with all applicable personal information laws, such as applicable laws concerning the storage or transfer of personal information.
  • If you are a Seller, you have had ample opportunity to obtain legal advice regarding the legal effects of this Agreement. You can deliver your full legal name, street address, telephone number and email address by postal mail or email to your Buyer(s) and grant SemiCash access to records of this correspondence.
  • You will refrain from using abusive and vulgar language with SemiCash employees, whether through email or phone support. Abusive conduct will not be tolerated and will result in account termination.

2.0 Liability

2.1 Our liability

If you have a dispute with one or more Users, you release SemiCash from any and all claims, demands and actual/consequential damages related to your transaction(s) with said User(s). We provide our services "as is" without any warranty or condition.

SemiCash makes reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards and check issuances are processed promptly. We make no representations or warranties regarding the amount of time needed to complete transactions because our Service is largely dependent upon many factors outside of our control.

Under no circumstances will we be liable for any lost profits, special, incidental or consequential damages arising out of or in connection to the Site, our Service or this Agreement. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. Under no circumstances shall our liability to you exceed the amount of the revenue earned from transactions carried out by you in the six months prior to the event leading to liability.

You agree to indemnify and hold SemiCash harmless from any claim or demand, including attorneys' fees, made or incurred by any third party due to or arising out of your breach of this Agreement, by the documents it incorporates or by your violation of any law or third-party rights related to your use of the Service.

You agree that if either you or SemiCash begin litigation or arbitration, the prevailing party is entitled to recover reasonable attorneys' fees and any other costs incurred in addition to any other relief to which the prevailing party may be entitled.

You agree to indemnify and hold SemiCash harmless for unauthorized transactions done through SemiCash. It is very important to contact us immediately if you believe your account has been compromised or if someone has transferred money through your account without your permission. Notifying us as soon as possible will limit your liability.

2.2 Your liability

If you do not report unauthorized transactions in your SemiCash account, you will be liable for any resulting damages. We will do what we can to recover the funds, but if we are unable to recover them, you will assume responsibility for the losses.

Your SemiCash account is protected by a password. As long as you keep the password confidential, no one will be able to access the funds or information in your SemiCash account. If a member shares their password with others or allows others to discover and use their password with the account, the account holder is giving access to the funds and information in the account and assumes all responsibility for transactions in this account.

You are responsible for performing your due diligence on any Sellers with whom you plan on doing business. If you neglect to perform due diligence on a Seller and do not receive an item you paid for or receive an item that does not appear as the Seller described it, you will be liable for any resulting damages. However, if you file a transaction dispute, we will do our best to mediate a resolution that will benefit all parties involved.

3.0 Agency Relationship

SemiCash provides third-party payment processing services and carries out related actions on your behalf. At all times, we hold your funds separate from our corporate funds and do not use your funds for our operating expenses or corporate purposes. We do not voluntarily make your funds available to our creditors in the event of bankruptcy or other purposes. You acknowledge that SemiCash is not a bank and that the Service is a payment processing service rather than a banking service.

By initiating and sending payments through the Service or adding funds to your balance, you appoint SemiCash as your agent to obtain the funds on your behalf and transfer them to the designated receiver. When you send a payment, you are the owner of those funds which SemiCash holds as your agent. You will not be able to withdraw those funds or send the funds to any other User unless the initial transaction is cancelled.

By receiving payments through our Service, you appoint SemiCash to hold your funds in your account until you take further action. You may allow a third party to withdraw or transfer your funds through our Site, but they will still be subject to the terms of this Agreement. If we send you a payment notification when you receive money through SemiCash but you have not registered for the Service, you will have no claim to those funds until you register for the Service and accept the payment.

SemiCash is a payment processor that hosts, creates, maintains and provides our Service to you online. We do not have any control over the Products/Services that are paid for with our Service. We cannot ensure that a Buyer or a Seller will complete their transaction as we are not a party to any transaction between Users. Instead, each User agrees to use the Services on their own accord. Furthermore, SemiCash reserves the right to correct any processing errors that may occur.

4.0 Account Information

4.1 Verification

SemiCash encourages Users to become verified for the security of our network. We may ask our members at any time to become verified to comply with Anti-Money Laundering and Anti-Terrorist Financing Legislation. You agree to submit the necessary documentation for the purpose of account verification if SemiCash requests it.

You authorize SemiCash, directly or through third parties, to make necessary inquiries to verify your identity. However, SemiCash cannot and does not guarantee any User's identity. SemiCash makes no representation or warranty to you regarding the identity of any given User.

At any time, we may ask you to submit a proof of address and a photo ID to verify your identity. If you are a Business account holder, we may ask for a proof of ownership, such as a Certificate of Incorporation, General Business Registration, a Certificate of Good Standing, or a Tax Registration document, to verify your business.

4.2 Receiving Money

Whenever you receive funds in your SemiCash account, a transaction fees will be deducted for that transaction as follows: 4.95% plus $0.45 for personal account, and 4.95% plus $0.45 for business account.

4.3 Sending Money

Sending money from your SemiCash account to another SemiCash user is free. SemiCash assumes no responsibility for Products purchased through the SemiCash system. SemiCash provides a secure medium through which payments are made online. The Seller assumes all liability for the Product being sold, and understands that the Products are purchased at your own risk. If you encounter any problems with the Seller's Products, you should contact SemiCash immediately to assist you in resolving this problem following the Resolutions process outlined in section 5.0.

4.3.1 Refusing Transactions

If you send money to another SemiCash User, they do not have to accept the funds; This means a User may return money sent to them back to the sender. You agree that we will not be held responsible for damages resulting from a User's refusal of a transaction.

4.4 Funding Your Account

When you fund your SemiCash account, applicable funding fees will be deducted from the funds and the balance credited to your SemiCash account. You can fund your SemiCash account and then spend your money anywhere you like while keeping your personal information confidential.

In compliance with Anti-Money Laundering and Anti-Terrorist Funding Legislation, certain limits will be imposed on SemiCash accounts funding whether verified or unverified and depending on the funding method.

4.4.1 Returned Funding

If you fund your account by bank wire and the amount is not credited to SemiCash bank account due to some errors on your part, SemiCash will not be responsible for your money loses. Please ensure that you provide accurate data before initiating a bank wire.

4.5 Withdrawing Money

You have the option of withdrawing your funds to your bank account. When you withdraw funds from your SemiCash account, applicable withdrawal fees will be deducted from the funds and the balance credited to your bank account.

In compliance with Anti-Money Laundering and Anti-Terrorist Funding Legislation, certain limits may be imposed on withdrawals from SemiCash accounts whether verified or unverified and depending on the withdrawal method.

4.5.1 Returned Withdrawal

If you withdraw funds to your bank account and the amount is returned due to a closed account or unable to locate, you will be liable to pay a $25 fee per incident as well as any other associated fees passed on by correspondent banks. Please ensure that you provide accurate data before initiating a withdrawal.

4.6 Recurring Payments

A recurring payment is a payment plan you set up with a Seller in which you allow us to process pre-authorized payments for the subscription or recurring service. If you sign up for a subscription or recurring payment, you give SemiCash the right to process your pre-authorized payments.

4.7 SemiCash Balance

You are not required to carry a balance in your SemiCash account. You may deposit funds at any time. However, if your SemiCash account has a negative balance, you agree to deposit funds into your account to cover the negative balance. If you do not, we reserve the right to recover the funds by any means necessary, including the involvement of a collections or law enforcement agency.

If you do hold a balance in your account, SemiCash will keep your funds separate from its corporate funds and will not use your funds for its operating expenses or any other corporate purposes. SemiCash will not voluntarily make your funds available to its creditors in the event of bankruptcy.

You further understand that you will not receive interest or other earnings on the funds that SemiCash handles as your agent and places in pooled bank accounts. In consideration for your use of the Service, you irrevocably transfer and assign to SemiCash any ownership right that you may have in any interest that may accrue on funds held in pooled bank accounts. This assignment applies only to interest earned on your funds, and nothing in this Agreement grants SemiCash any ownership right to the principal of the funds you maintain with SemiCash. In addition to or instead of earning interest on pooled bank accounts, SemiCash may receive a reduction in fees or expenses charged for banking services by the banks that hold your funds.

4.8 Get Free Money Program

You can earn extra cash through SemiCash by referring others to our service through a link on your website or in an email. You can earn 10% commission on all fees we charge on transactions made by persons you referred to our service and that of your downlines. To qualify for the reward, your referral must sign up for a SemiCash account and send/receive at least $25. Self-referrals or referrals from the same IP address will not be rewarded. We reserve the right to change the Get Free Money program at any time. Abuse of the Get Free Money program in any way will result in forfeiture of referral rewards and account suspension.

4.9 Account Security

SemiCash implements various security measures to protect your account including storage and processing of your Information on servers located in United States that are protected by physical as well as technological security devices. Provided you do not share your account access details with third parties, unauthorized transactions will be drastically reduced if not completely eliminated.

5.0 Resolutions

5.1 Transaction Disputes

Disputes between you and a Buyer must be reported through Customer Support at or by calling +234- from 8:00 a.m. to 5:00 p.m. Universal Time, Monday through Friday. Claims must be filed within 24 hours of the completed payment.

When handling a dispute, SemiCash will take into consideration the Seller's Terms of Service to which you agreed at the time of purchase. If the service or product has not been delivered as stated, SemiCash's policy will be used in place of the Seller's Refund Policy.

5.2 Chargebacks and Associated Fees

A chargeback occurs when the Sender contacts their debit/credit card issuer to dispute certain charges made through their credit card or bank account, depending on payment or depositing method. Any account that receives fraudulent funds or funds that have been disputed by the Sender will be reversed. If you receive funds in your account from the Sender's credit card or bank account and the credit card or ACH transaction is reversed, you agree to hold SemiCash harmless for the reversal fee and agree to reimburse SemiCash immediately by any means necessary. Chargebacks, returns and reversals may lead to immediate account termination and/or a $45 penalty fee.

5.3 Funds Recovery

If another User disputes a payment made to your SemiCash account by chargeback, SemiCash will retrieve the funds in question. Furthermore, you authorize SemiCash to retrieve any disputed funds by bank wire to recover the lost funds. If you received the amount by check, you agree to pay the negative balance in your SemiCash account. Otherwise, we will have to involve a collections agency in the funds recovery process.

5.4 Contacting the Seller

Before filing a claim, you must contact the Seller and attempt to resolve the dispute on your own. Most disputes are solved with proper communication. If you cannot resolve the dispute this way, you can submit a ticket regarding your dispute through SemiCash's Support Center.

After you have opened a dispute, SemiCash will send a "Contact Request" to the Seller in hopes of resolving the issue. The Buyer must respond to this email if the issue has not been resolved, otherwise the dispute will be closed. Furthermore, it is not permitted to alter either party's email reply; all information, including emails, should be included in their original format. We ask that all email communications take place using the same email address as the one used to open the dispute.

5.5 Submitting a Dispute to the Support Center

SemiCash members may only submit one dispute per transaction. Submitting multiple disputes for a single issue may result in the closure of the dispute without resolution for the inconvenience.

If one member files a dispute against another member, SemiCash's Support Center will mediate the situation. SemiCash will only intervene if there is a clear policy violation. SemiCash's involvement and final decision protects Buyers from fraudulent Sellers and protects Sellers from false allegations of fraud.

In most cases, you should review the Refund Policy and Terms of Service of the seller. If after reviewing the Refund Policy and TOS you believe that the Seller failed to provide the Product as stated and/or if you are entitled to a refund as stated by the Seller, you may file a complaint.

If your claim is justified, SemiCash will attempt to collect funds from the Seller. Funds recovery is not guaranteed. There may not be sufficient funds in the Seller's account to cover your claim. If we are not successful in recovering funds, you have no claim against SemiCash.

Both parties agree to a binding resolution rendered by SemiCash. SemiCash reserves the right to limit resolution requests if the User has not done due diligence on the Seller prior to making a purchase or sending funds. Once a dispute has been closed, it cannot be re-opened or disputed again. Please note that all payments are done at your own risk. Furthermore, any online income opportunity, such as Multi-Level Marketing, is considered risky. Returns on these online income opportunities are not guaranteed nor are transaction resolutions for members who have participated in them.

Very importantly, members investing in high-risk programs, such as MLMs, should only send/receive payments from the same payment processor. If you invest through another payment processor and accept payments through SemiCash and any issues arise, only SemiCash records will be used to determine the outcome of the issue, such as when a member receives payments through SemiCash while investing through another payment processor. To us, this appears that the seller is cashing out through this individual and that their funds are at risk of reversal.

6.0 Acceptable Use and Activities Not Allowed

6.1 Acceptable Use

Use of the Services is subject to this acceptable use policy ("AUP"). If not defined here, capitalized terms have the meaning stated in the applicable contract ("Agreement") between Buyer, Seller or other authorized User ("You") and SemiCash.

You agree not to use or allow third parties or Your End Users to use the Service for the following reasons:

  • To generate or facilitate unsolicited bulk commercial email.
  • To violate or encourage the violation of the legal rights of others.
  • For any unlawful, invasive, infringing, defamatory or fraudulent purpose.
  • To intentionally distribute viruses, worms, Trojan horses, corrupted files, hoaxes or other Products of a destructive or deceptive nature.
  • To interfere with the use of the Services or the equipment used to provide the Services, by Buyers, Sellers or other authorized Users.
  • To alter, disable, interfere with or circumvent any aspect of the Services.
  • To test or reverse-engineer the Services to find limitations, vulnerabilities or evade filtering capabilities.
  • To use the Services or a component of the Services in a manner not authorized by SemiCash.

Your failure to comply with the AUP may result in suspension and/or termination of the Services pursuant to the Agreement.

No User or other third party is authorized to use bots, spiders or other automated information-gathering devices or programming routines to "mine" information displayed, register User accounts, perform transactions and any other activities SemiCash considers inappropriate.

6.2. Activities Not Allowed

The following list outlines activities SemiCash members are not permitted to do through the Service:

  • The sale, solicitation, offering, exchange or service of the following:

- Prescription drugs or devices, controlled substances, unapproved drugs and/or unapproved medical devices.

- Hazardous materials, combustibles and/or corrosives.

- Gambling and/or casinos.

- Payment processors or any aggregation type services.

- Credit card protection, credit repair services, applications for financial services or loans and/or collection services.

- Sites that promote hatred, racism, sexism, religious persecution and/or any other prejudicial views.

- Services using credit card transactions as deposits or credits, including pre-loaded debit/credit/cash/virtual cards.

- Illegal downloads or any other goods and services infringing intellectual property rights of a third party, including streaming video/audio.

- Pre-adult content, such as pictures, videos, etc..., of individuals under the age of 18.

  • Money laundering.
  • Infringing on any third party's copyright, patent, trademark, trade secret or other property rights or rights of publicity or privacy.
  • Violating any law, statute, ordinance, contract or regulation, including but not limited to those governing financial services, consumer protection, unfair competition, anti-discrimination or false advertising.
  • Submitting altered verification documents.
  • Being misleading, false or inaccurate in respect to SemiCash or any other User.
  • Any activity similar to or consisting of giving yourself a cash advance from your credit card or bank account, factoring or helping others to do so.
  • Any defamatory, trade libellous, unlawfully threatening or harassing statements or information.
  • Spamming.
  • Using currency exchangers or aggregation, unless approved by SemiCash.
  • Transmitting personal information of other SemiCash members to third parties.
  • Using or selling any form of e-cash, web cash or other matter, tangible or not, that is redeemable by a Buyer for a product or service from a third party.
  • Abusing the Get Free Money program in any way we consider inappropriate.

Furthermore, anything that causes us to lose or become liable for, in whole or in part, the services of our sponsoring banks, Internet Service Providers or other suppliers is not allowed. If you use or attempt to use the Service for purposes other than sending and receiving payments and managing your account, including but not limited to tampering, hacking, modifying or otherwise corrupting the security or functionality of the Service, your account will be terminated and you will be subject to damages and other penalties, including criminal prosecution if necessary.

6.3 Monetary Penalties

If you are found in violation of this User Agreement and all terms herein, we reserve the right to fine you a penalty of $350 and upwards, depending on damages and the severity of the violation and the liability you cause to SemiCash and our professional partners. Sites that sell banned products or services are subject to immediate account termination. We also reserve the right to freeze or forfeit funds, as well as fine the account holder and/or cancel payment without notice.

We further reserve the right to penalize any and all fraudulent or negligent Sellers for using SemiCash as Customer Support for their business, for excessive refunds, transaction disputes, chargebacks, complaints, excessive burden, creating liability and damaging our credibility among our members and professional partners. The fine for the aforementioned will be a minimum of $50 per incident.

Furthermore, abuse of the Get Free Money program may result in forfeiture of your referral rewards and account suspension. If you are responsible for any damage we consider extensive, we reserve the right to apply a monetary penalty of at least $50 per incident.

7.0 Restricted Account Types and Industries

Individuals whose businesses fall under the following "Restricted" industries ARE permitted to use our services. However, accounts and industries that fall under the "Restricted" category must be verified and pay fees associated with this account type. Please contact Customer Support for additional information.

7.1 Restricted Industries

  • DVDs.
  • Telephone service, long distance, VoIP, PC-to-phone service or SMS.
  • Plants, seeds and/or other horticultural products.
  • Seminars and event tickets.
  • Perishable and non-prepackaged foods.
  • Police and other government identification and equipment.
  • Body modification products for penis/breast enlargement.
  • Tobacco products, smoking mixtures or tobacco substitutes.
  • Mature toys, novelties, paraphernalia and related Products.
  • Drug paraphernalia.
  • Multi-Level Marketing (MLM) and pyramid selling services, matrix programs or online income opportunity programs.
  • Pay-to-click, pay-to-read and any related industries.
  • Adult content and pornography.
  • Games of skill, such as lotteries and raffles.
  • Imitation and replica clothing and accessories.

8.0 Closing Accounts and Limiting Account Access

This Agreement's term will begin as soon as you accept these terms and will continue as long as you use the Site or the Services and are an SemiCash member.

8.1 Activities resulting in account limitation and termination

SemiCash reserves the right to limit Account access or withdrawals and the right to terminate this Agreement with no prior notice for any of the following:

  • Reporting unauthorized or unusual credit card or bank account use to your issuing bank, including but not limited to chargebacks.
  • Abusing the reversal process by a Buyer through their bank.
  • Consistently failing to follow the Resolutions process before filing a complaint with their issuing bank.
  • Initiating a reversal by a Buyer through their issuing bank without first following the Resolutions process.
  • Initiating transactions such as cash advances or assisting cash advances.
  • Sending unsolicited email or posting referral links on websites where they are not permitted.
  • Opening multiple Personal accounts.
  • Using the SemiCash account to facilitate fraudulent activity.
  • Violating this User Agreement in any way.
  • Returning an incoming Electronic Funds Transfer due to insufficient funds in the bank account or an incorrect bank routing/institution and/or account number.
  • Using an anonymizing proxy.
  • Receiving excessive complaints from Buyers about your account, business or service.
  • Submitting altered verification documents.

SemiCash will use reasonable efforts to investigate accounts that are subject to account access limitations and to reach a final decision on said limitations. Should your account be limited, all funds will be held for a period of time until the issue is resolved. However, it may be held for a lesser period which SemiCash will determine. By following this User Agreement, you can help protect your account from becoming limited.

9.0 Countries Not Supported

At this time, SemiCash cannot provide services to the following countries:

  • Afghanistan
  • Belarus
  • Burma
  • Cuba
  • East Timor
  • Iran
  • Iraq
  • Lebanon
  • North Korea

10.0 Jurisdiction and Venue

This Agreement is governed by and interpreted under the laws of Nigeria as such laws are applied to agreements entered into and to be performed entirely within Lagos State. In the event of a dispute arising out of or relating to the terms of this agreement or your use and access to this site or our services, litigations must be brought in a court of competent jurisdiction situated in Lagos State, Nigeria.

11.0 General

SemiCash's failure to enforce any provision of these terms is not an allowance of such provisions. It is SemiCash's right to act with respect to subsequent or similar breaches and enforce such provisions. If a court of competent jurisdiction finds any provision of the terms of this agreement to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the Terms remain in full force and effect. Regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of our Services or the Terms of this agreement must be filed within one (1) year after such claim or cause of action arose or be forever barred.

The parties hereto agree that this agreement is drafted and executed in the English language.

Les parties au présent accord conviennent que la présente convention est Exécuté en anglais.

Updatad: May 15, 2010.