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KREDAR

Terms & Conditions

Last Updated: July 8, 2026

Welcome to Kredar. These Terms & Conditions (“Terms”) constitute a legally binding agreement between Kredar Technologies Ltd. (“Kredar,” “we,” “us,” or “our”) and the business entity or merchant (“Merchant,” “you,” or “your”) accessing or using our payment infrastructure, webhooks, dashboards, APIs, and associated financial routing tools (collectively, the “Services”).

By creating a merchant account, accessing our APIs, or utilizing any portion of the Services, you agree to comply with and be bound by these Terms. If you are entering into this agreement on behalf of a company or other legal entity, you represent that you have the legal authority to bind such entity.

1. Scope of Services

Kredar provides B2B fintech infrastructure and API services designed to facilitate dedicated virtual account routing, payment notifications, and automated transaction reconciliation. Specifically:

  • Virtual Account Routing: We provision dedicated virtual accounts via our licensed partner banks to assist in collecting bank transfers.
  • Reconciliation & Notifications: We notify your applications in real-time via secure webhook events when customer deposits are received.
  • Role of Kredar: Kredar is a technology provider and does not operate as a licensed bank or deposit-taking institution. All virtual bank accounts are issued, hosted, and regulated in partnership with commercial banking institutions (including Wema Bank, Providus Bank, and Sterling Bank).

2. Onboarding and KYB Verification

To access full virtual account features and transaction settlements, you must successfully complete our onboarding process:

  • KYB Accuracy: You agree to provide current, complete, and authentic business data, including certificates of incorporation, tax identifiers, proof of business address, and identities of ultimate beneficial owners.
  • Verification & Suspension: We reserve the right to verify all submitted details. We may limit account functionality, suspend settlements, or terminate accounts if submitted documents are invalid, fraudulent, or fail KYC/KYB assessments.
  • Credential Protection: You are responsible for safeguarding your dashboard credentials and private API keys. Any transaction or operation initiated using your account credentials or keys will be deemed authorized by you.

3. Acceptable Use & Compliance

You agree to utilize Kredar only for legitimate and authorized business activities:

  • Compliance with Law: You must comply with all local regulations regarding anti-money laundering (AML), countering terrorist financing (CFT), and consumer protection.
  • Prohibited Transactions: You may not use the Services to process payments related to illegal products, unlicensed gaming or gambling, fraudulent schemes, or unregulated financial services.
  • API Abuse: You must not attempt to disrupt or bypass API limits, scrape platform resources, distribute malicious software, or perform load tests on Kredar systems without prior written authorization.

4. Fees and Settlements

Our transaction processing and service fees are outlined in your dashboard settings or dedicated merchant agreement.

Settlements are processed and dispatched to your designated settlement bank account according to the timelines configured on your merchant dashboard (typically next business day, T+1). Settlements may be delayed due to commercial bank downtime, local public holidays, network routing failures, or compliance audits.

5. Disclaimer & Limitation of Liability

THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. WE DO NOT GUARANTEE THAT THE PLATFORM WILL ALWAYS BE SECURE, TIMELY, OR ERROR-FREE.

IN NO EVENT SHALL KREDAR, ITS DIRECTORS, EMPLOYEES, OR BANKING PARTNERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES—INCLUDING LOSS OF PROFITS, DATA, OR BUSINESS REVENUE—ARISING OUT OF THE USE OF, OR INABILITY TO USE, THE SERVICES.

6. Account Suspension and Termination

We may suspend your access to the dashboard, block virtual account generation, or freeze settlements at any time without prior notice if:

  • You breach any provision of these Terms or our Acceptable Use Policy.
  • We detect suspicious, high-risk, or potentially fraudulent transaction patterns.
  • We are instructed to do so by any of our partner banks, regulatory agencies, or legal mandates.

7. Governing Law

These Terms shall be governed by, interpreted, and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes, controversies, or claims arising out of or relating to these Terms shall be subject to the exclusive jurisdiction of the competent courts located in Lagos, Nigeria.