BizCash

Terms & Conditions

Your use of BizCash services are subject to the BizCash Terms and Conditions herein (the “BizCash T&Cs”). This BizCash terms and conditions (the “BizCash T&Cs”) shall be read together with TNG eWallet User Terms and Conditions (the “User T&Cs”) and the Business Account Terms and Conditions (the “Business Account T&Cs”) and, unless otherwise stated, capitalised terms shall have the same meaning as defined therein. You shall be further subject to any terms and conditions that may be imposed by the respective financial institutions (the “Financial Service Provider”) from which you apply and/or obtain a loan and/ or financing through the services of BizCash.

Please read the BizCash T&Cs very carefully and only continue with this service if you are agreeable to the terms and conditions herein. You are required to have read and fully understand the terms and conditions herein prior to using BizCash. In the event you require any clarification on the terms and conditions herein, contact TNGD at 1300888828 (Local) or +603 2297 3000 (Overseas). By using BizCash, you acknowledge that you have read and agreed to the BizCash T&Cs prior to your use thereof and constitutes your unconditional acceptance of these BizCash T&Cs which may be amended by TNGD from time to time and it shall be effective after twenty-one (21) days from the date it updated. Your continued use of BizCash after the effective date of the amendments and/or variation shall constitute your acceptance of such amendments and/or variations. If you do not accept these BizCash T&Cs, please do not continue with the use of BizCash. DISCLAIMER: BizCash is a platform hosting various loan / financing products and services offered by Financial Service Provider. For avoidance of doubt, TNGD is not the owners or underwriters of the loan / financing products. The Financial Service Provider is at all times the owner and underwriter of its loan / financing products.

Definitions

For the purpose of these BizCash T&Cs, the following terms shall have the meanings as defined below:

“Applicable Laws”

means all applicable laws, statutes, rules, regulations, judicial decisions (including any amendments, re-enactment or replacement of it), including directives, orders, standards, guidelines or other similar instruments issued by any competent regulatory authority having the force and effect of law;

 

“Available Balance”

 

means the sums available in the Merchant’s individual TNG eWallet Account including sums in GO+, GOinvest and any sums/ balance available in credit/ debit card(s) or such other card(s) binded to the TNG eWallet Account and/ or sums available in the Merchant Business Account;

 

“Business Account”

means a digital account feature available to eligible Merchants registered on TNG eWallet, which facilitates the sending, receiving, and management of funds for the purposes of enabling any transactions conducted through the TNG eWallet;

“Calculate”

means the function under which BizCash provides you with an estimate of your Loan / Financing amount eligibility;

 

“Financial Service Provider”

means an authorized person or a registered person but excludes an approved money-broker;

“Identification Documents”

means your personal identification documents including but not limited to NRIC, passport, etc that we may request from you from time to time;

 

“Income Documents”

means the documents provided by you as may be required and/or specified by TNGD for the purposes of income or other verification, and assessment of your Loan/Financing eligibility or other necessary assessments, including but not limited to your Business Account statement, as and when necessary;

“Incorporation Document”

means legal documentation filed by an entity to establish itself as a legal organization including but not limited to application for incorporation, constitution, articles of incorporation, memorandum of association, by-laws and such other documents as may be required by the registration authorities for such purpose;

 

“Individual Trader”

refers to a sole trader who has completed the registration process and been successfully accepted and registered with TNGD as an individual trader, who is further described in the Merchant Dashboard;

 

“Loan / Financing”

means the loan / financing or other facility provided by the Financial Service Provider to you as may be facilitated by BizCash on the BizCash platform;

“Merchant”

shall refer to the Individual Trader and Registered Merchant who has been successfully registered and approved by TNGD;

“Merchant Settlement Balance”

means the amount payable to the Merchant, being the settlement and transfer of the funds into the Merchant bank account and/or Business Account;

“Merchant Dashboard”

means the dual feature in the TNG eWallet which allows Merchants to track sale transactions and history records;

 

“Registered Merchant”

means a business entity registered with the Companies Commission of Malaysia (SSM);

 

“TNG eWallet Account”

 

means Merchants’ respective TNG eWallet accounts and/or Merchants’ respective Business Account;

“Transactions”

means the necessary steps undertaken or to be undertaken by you for Loan / Financing application via BizCash in TNG eWallet mobile app including the filling-in and/ or completion of the e-application form by you. For avoidance of doubt, in the event of non-completion and/ or abandonment of the Loan / Financing application by you, or failure by you to secure a Loan / Financing, any data or documents collected for the purpose of the Loan/ Financing application shall belong solely to TNGD, and TNGD shall have the absolute right to deal with the data collected in accordance with the Applicable Laws;

 

“You”, “your”

shall mean the Merchant.

1.              Incorporation of Applicable Terms and Conditions

1.1           The use of BizCash shall be subject to the terms applicable to the type of account registered:

(a)   Merchants with a Business Account: If you have a registered Business Account, your use of BizCash as the disbursement and/or repayment/payment platform for any Loan/Financing linked to your Business Account shall be governed by the Business Account T&Cs. For the avoidance of doubt, all provisions in the Business Account T&Cs, including but not limited to your responsibilities, limits, restrictions of use, privacy, handling of personal and company data, termination, suspension, and liability shall apply.

(b)   Merchants without a Business Account: If you have registered as a Merchant without a Business Account, your use of BizCash shall be governed by the User T&Cs applicable to merchant registration.

1.2           For the purposes of this BizCash service, the word “Service(s)” in the User T&Cs and Business Account T&Cs shall be construed to include BizCash.

2.              Availability of BizCash and other Services

2.1           BizCash and all other services made available to you shall be at TNGD’s discretion.

2.2           Your use of BizCash shall automatically be suspended, blocked, limited, restricted, or terminated in the event if your corresponding TNG eWallet Account is similarly suspended, blocked, limited, restricted, or terminated for any reason whatsoever.

2.3           Your use of BizCash shall be subject to changes and/ or restrictions that TNGD may from time to time make across all or broadly across segments of Merchants that use the BizCash services.

2.4           TNGD reserves the right to decide, in TNGD’s absolute discretion, the best recommended loan/ financing product offered by the Financial Service Provider for you.

3.              Representations and Warranties

3.1           You hereby warrant, represent and declare that:

(i)             you are a company or business entity duly incorporated, validly existing, and in good standing under the laws of its jurisdiction of incorporation or registration, and has full power, capacity and authority to enter into, apply for, and perform its obligations under these BizCash T&Cs;

(ii)             the application for BizCash services made pursuant hereto has been duly authorised by all necessary corporate or organisational actions of the Merchant and constitute valid, binding, and enforceable obligations against the Merchant in accordance with their respective terms;

(iii)            any application for the BizCash services by you shall be used solely for legitimate business purposes in connection with your business’ operations and not for any unlawful or unauthorised purposes;

(iv)            all information, documents and declarations provided by you (including those you input through the TNG eWallet) is true, correct and complete and, notwithstanding any verification that may have been carried out, no reliance may be placed on TNGD to verify the accuracy thereof or to make corrections thereto and TNGD shall be entitled to rely on information and documents provided by you as truthful, accurate and complete;

(v)            any and all funds you apply towards any reload or top-up into the TNG eWallet Account are (1) your own personal source of funds or from your company which you have all legal authority and permission to use those funds, and (2) such funds are not derived from any illegal or unlawful source;

(vi)           you shall not permit any person other than authorised users of your Business Account to access or use the BizCash, and only the registered owner or authorised representative shall be permitted to initiate or authorise any transactions under BizCash;

(vii)          you will not use or permit BizCash to be used for money laundering, terrorism financing, fraudulent, illegal and other suspicious activities;

(viii)         you will comply with all applicable laws, regulations, and guidelines in relation to the application for, and use of the BizCash offered by TNGD;

(ix)           you will comply with these BizCash T&Cs (and any amendments as notified from time to time).

3.2           TNGD shall not be responsible or liable for any losses you may suffer if you breach these representations and warranties, losses arising from your own negligence (including disclosing personal, company or other data to others or having passwords or other security details that can be compromised), and/ or losses arising from anything beyond the reasonable control of TNGD.

4.              Credit Checks, Personal, Company and Other Data

4.1           By using BizCash services, you expressly represent and warrant that you are duly authorized to act on behalf of the company(ies) registered as a Merchant, and hereby grant consent on behalf of such company(ies) to TNGD to conduct a credit check at any credit reporting agency or bureau (including our partner credit reporting agency or bureau to conduct a check with other credit reporting agency or bureau, if needed) as a necessary condition for the use of BizCash or for the application of any Loan / Financing facilitated thereunder. You further grant your consent, on behalf of the company(ies), for TNGD to carry out the foregoing actions and/or checks at any time deemed necessary by TNGD, including but not limited to:

(i)              each time obtain loan/ financing packages and compare proposed loan/ financing offers by the Financial Service Provider;

(ii)             when you apply for any subsequent Loans/Financing;

(iii)            once you have accepted any Loan/Financing, then at any time throughout the duration of the Loan / Financing if, in the opinion of TNGD, your credit data requires updating or is considered outdated;

(iv)           extracting using any version of a credit check conducted at any crediting agency or bureau as TNGD deemed appropriate; and

(v)            extracting using any information provided or submitted by you for BizCash application.

4.2           In order to provide the services of BizCash, you hereby expressly grant consent to:

(i)             share or disclose your personal, company and other data that you have provided together with any data or information that you have consented to be extracted / obtained by TNGD (including credit checks and Income Documents), with any third parties associated with the provision of the BizCash services including, but not limited to, any Financial Service Provider and credit check agency or bureau. This shall include consent to the relevant credit check agency or bureau disclose credit checks on you directly to any Financial Service Provider, if expedient.

4.3           You further agree that TNGD may use any personal, company and other data provided by you or extracted by TNGD for TNGD’s internal analytics for the purposes of enhancing, improving, marketing and promoting the BizCash and our other services for / to you.

4.4           By using BizCash services and performing the Transactions, you hereby agree and consent to TNGD sharing your personal, company data and other data provided by you to any Financial Service Provider for the purpose of applying for Loan/ Financing facilitated by BizCash on the TNG eWallet platform.

4.5           For the avoidance of doubt, any consent or authorisation given by you under these BizCash T&C shall be deemed to include consent on behalf of your company or business entity that you represent, warranting that you have been duly authorised to act for and on behalf of such company or entity for the purposes of using the BizCash services.

5.              No Guarantee of Success

5.1           You acknowledge and agree that BizCash is a service that facilitates loan / financing application to Financial Service Provider, and does not itself provide, any Loans / Financing and TNGD does make any guarantee or warranty whatsoever of your eligibility or successful application of any Loan / Financing or Loan / Financing amount.

5.2           Any indications provided by BizCash in respect of your eligibility, chances of successfully obtaining a Loan / Financing, or possible Loan / Financing amounts are indicative only and shall not be taken as any binding representation by TNGD. You may not place any reliance thereto and TNGD disclaims any responsibility and liability for any outcome that does not meet any expectation you may have. You are required to read the terms and conditions imposed by the Financial Service Provider on the Loan / Financing prior to accepting the Loan/ Financing which may include a revision in the Loan/ Financing amount offered and a change in the Loan interest rate / Financing profit rate. You acknowledge that the Financial Service Provider has the absolute right to reject, vary, revise or modify the Loan Financing amount and/ or interest and TNGD shall not be held liable for any losses, costs, expenses and/ or inconvenience incurred or suffered by you due to such rejection, variation, revision or modification.

5.3          All applications for Loans / Financing under BizCash are subject to the final approval of the Financial Service Provider at its absolute discretion.

5.4          The Financial Service Provider may further impose additional and/or different eligibility requirements than stated herein and these requirements may differ depending on different Financial Service Provider and depending on the type of Loan / Financing or other product/service offered.

6.              Financial Service Provider

6.1           All Loans/ Financing facilitated by BizCash are offered and provided by the relevant Financial Service Provider and is subject to any terms and conditions it may impose and other details in its product disclosure sheet or other disclosures.

6.2           Upon a Loan/ Financing being offered to you by a Financial Service Provider, you shall indicate your acceptance and execute the loan / financing agreement by way of electronic signature by creating and keying-in a six (6) digit personal identification number (PIN) on the TNG eWallet application. By keying-in the six (6) digit PIN, you hereby agree to enter into a valid and legally binding contract with the Financial Service Provider in accordance with the Electronic Commerce Act 2006.

6.3           Unless otherwise stated herein, TNGD shall not have any responsibility or liability in respect of your relationship with the Financial Service Provider including, but not limited to, any adverse consequence and/or liability arising therefrom.

6.4           You agree that TNGD shall not be held liable howsoever for acting on the instructions of the Financial Service Provider in respect of the Loan/ Financing applied or obtained by you and grievance you may have thereto shall be brought or actioned by you against the Financial Service Provider. This may include, but is not limited to, deducting your Available Balance and/or Merchant Settlement Balance from your TNG eWallet Account due to any delinquency or non-payment of Loan / Financing made available to you via BizCash.

7.              Default

7.1            In circumstances where you are in default, including, but not limited to, where you are in breach of the BizCash T&Cs, the User T&Cs or the Business Account T&Cs, failed to pay the necessary instalments, fees or charges, have provided inaccurate, misleading or fraudulent information or have made false or misleading declarations (including where any representations, warranties or declaration subsequently become untrue), your continued use thereof is deemed unsafe to yourself or others, are a credit risk, or where there have been (or reason to believe that there would likely be) any suspicious, irregular, illegal, or fraudulent transactions, TNGD reserves the right to take one (1) or more of any of the following actions, where appropriate:

(i)              refuse to provide any BizCash services to you;

(ii)             limit any facilities, services or functionalities, of BizCash and/or block, suspend, or terminate your use of BizCash;

(iii)            revoke any prior application or advise the Financial Service Provider to revoke any approval for a Loan / Financing;

(iv)           suspend, block, limit, restrict or modify any functionalities or services;

(v)            suspend, block, and/or terminate your TNG eWallet Account;

(vi)           block, refuse, and/or reverse any Transactions where appropriate;

(vii)          where necessary, deduct any outstanding sums or sums due in the manner as set out in Clause 7.2 or Clause 7.3.

(viii)         take such action as may be directed by the relevant authorities; and/or

(ix)           take any other action we deem fit at any time at our sole discretion;

and in severe cases, including, but not limited to, circumstances where you have been found to have intentionally compromised the security of BizCash or your TNG eWallet Account, involved in dishonest, illegal or fraudulent activities or were grossly negligent, to take additional actions which include to:

(x)            refuse to refund your Available Balance and/or Merchant Settlement Balance;

(xi)           claim compensation against you for any losses caused; and/or

(xii)          take any other action we deem fit at any time at our sole discretion.

(collectively “Appropriate Remedies”)

7.2           TNGD shall have the right to deduct, in part or in full, any of your TNG eWallet Account maintained by TNGD and/ or any accounts accessible via the Touch ‘n Go eWallet, including but not limited to Available Balance and/or Merchant Settlement Balance to set off any default in instalments and/ or any failure to make payments that are past due for any accrued interest, fees, or other applicable charges. TNGD shall provide seven (7) days’ notice prior to such deduction.

7.3           Furthermore, TNGD shall, with seven (7) days’ prior notice, be entitled to trigger reload(s) which shall include a one percent (1%) charge from any credit or debit card bound to your TNG eWallet Account and use such sums as repayment, in part or in full, in the event of any default in instalments and/ or any failure to make payments that are past due for any accrued interest, fees, or other applicable charges. TNGD shall not be liable for any chargeback claim arising from such reload(s). The provision of this Clause 7.3 shall also apply to Merchants who has signed-up for the quick payment method.

7.4           Although it is not a prerequisite to bind a credit or debit card to your TNG eWallet Account to obtain a Loan / Financing , if you have a credit or debit card bound to your TNG eWallet Account or if you subsequently bind a credit or debit to your TNG eWallet Account , you may not unbind such credit or debit card without binding a new credit or debit card if there are any amount outstanding. In the event you have more than one (1) Loan / Financing on the TNG eWallet and/or TNG Merchant eWallet app, and you are in default of any one or more of such Loan/ Financing (“Defaulted Loan”), TNGD shall have the absolute discretion to determine which Defaulted Loan shall be settled first whether in part or in full by deducting from the Available Balance and/or Merchant Settlement Balance.

7.5           TNGD’s exercise of any of the Appropriate Remedies may be with or without notice where appropriate. TNGD will make commercially reasonable efforts to notify you prior to taking any Appropriate Remedies, however TNGD may not notify you where we are prohibited by the relevant authorities or applicable, or otherwise where the circumstances dictate that no notice should be given.

7.6           If TNGD exercises its right in clause 7.1(vi) above or has made other deductions but you have made payment (wholly or in part) for the same just prior to the deduction, the amount deducted by TNGD shall be applied as an advance payment towards the applicable Loan / Financing or other BizCash product or service and any excess, if any, shall be refunded to you.

 

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