Benmort Pay Payment Terms

1Introduction

Welcome to Benmort Pay.

These Payment Facilitation & Holding of Funds Terms (“Payment Terms”) govern your access to and use of Benmort Pay. They form part of the Benmort Connect legal framework and supplement the Benmort Connect General Terms of Use. They also apply alongside any other Benmort service-specific agreements that are relevant to you, including the Marketplace Terms of Service, Business Solutions Terms, Global Services Terms, Compliance Hub Terms, Merchant Agreements, and Partner Agreements.

We have written these Terms in plain language so that you understand exactly how Benmort Pay works, what we do with payments and funds on your behalf, and what we each need from one another to make it work safely and compliantly.

By using Benmort Pay in any capacity — whether to make a payment, receive funds, authorise a transaction, participate in a collection, or use the holding of funds service — you agree to be legally bound by these Payment Terms.

2What Benmort Pay Does

Benmort Pay is our integrated payment and funds-management solution. It is designed to make commercial transactions across the Benmort Connect ecosystem more secure, more efficient, and more transparent for everyone involved.

Subject to applicable law and regulatory requirements, Benmort Pay may provide:

• Payment facilitation and collection
• Marketplace transaction support
• Payment processing
• Invoice payment processing
• Merchant payment services
• Subscription payment management
• Temporary holding of funds
• Corporate payment services
• Conditional release of funds
• Other approved payment-related services
• Settlement services

Benmort Pay operates solely within the scope of the services it is legally authorised to provide under applicable law. The availability of specific services may vary by jurisdiction, user category, and regulatory requirements.

3Key Definitions

The following terms have specific meanings within these Payment Terms:

4Scope of These Terms

These Payment Terms apply to all payment-related activities carried out through Benmort Pay, including:

• Marketplace transactions
• Professional service fee payments
• Business Solutions payments
• Invoice settlements
• Global Services fees
• Holding of funds arrangements
• Compliance Hub service payments
• Refund processing
• Merchant payment collections
• Payment reversals and corrections
• Subscription payments
• Transaction monitoring and compliance reviews

5Eligibility

To use Benmort Pay, you must:

• Have the legal capacity to enter into binding contracts under the laws applicable to you.
• Provide complete, accurate, and current information when registering and throughout your use of the service.
• Satisfy any identity verification requirements that apply to your account type or transaction category.
• Comply with all applicable laws and regulations relevant to your use of payment services.
• Use Benmort Pay only for lawful purposes.

We reserve the right to refuse, suspend, or terminate access to Benmort Pay where any of these requirements are not met. Where practicable, we will notify you and explain the basis for our decision.

6Account Registration

Your Benmort Pay account is the foundation of your payment experience with us. You must ensure that all information associated with your account is accurate, complete, and up to date. If anything changes, please update your information promptly.

We may require supporting documentation at any time to verify your identity, confirm your business status, or validate your payment details before activating or continuing to provide payment services to you. We will handle all information you provide in accordance with our Privacy Policy.

7Identity Verification (KYC)

To comply with applicable legal and regulatory requirements, Benmort conducts Know Your Customer (KYC) verification. This is a standard and important part of responsible financial services, and it helps protect everyone who uses Benmort Pay.

Depending on your account type and the services you require, KYC verification may involve any of the following:

• Government-issued identification
• Bank account verification
• Proof of residential or business address
• Beneficial ownership information
• Business registration documents
• Authorised representative verification
• Tax identification numbers
• Other documentation required for compliance or risk management

We ask that you cooperate fully with all verification requests. Failure to do so may result in delayed, restricted, or suspended access to payment services. Completing verification does not imply any endorsement of your business or financial standing by Benmort.

8Anti-Money Laundering & Sanctions Compliance

Benmort is committed to preventing money laundering, terrorist financing, fraud, and other financial crimes. Compliance with applicable anti-money laundering (AML) and counter-terrorist financing (CTF) laws is non-negotiable, and it is something we take very seriously across every transaction that passes through Benmort Pay.

As part of our compliance obligations, Benmort may:

• Screen transactions and users against applicable international and domestic sanctions lists.
• Monitor transactions on an ongoing basis for unusual, suspicious, or high-risk activity.
• Conduct enhanced due diligence on accounts or transactions that present elevated risk.
• Report suspicious transactions to the relevant competent authorities where we are legally required to do so.
• Refuse, delay, suspend, or reverse transactions that present an unacceptable legal or compliance risk.

9Payment Services

Through Benmort Pay, eligible Users can access a range of payment services designed to support smooth, secure transactions across the Benmort Connect ecosystem. Depending on your account type and jurisdiction, these may include:

• Making and receiving payments
• Supporting Business Solutions engagements
• Paying invoices
• Processing Global Services fees
• Collecting professional service fees
• Supporting Compliance Hub payments
• Processing subscription payments
• Other approved payment services we introduce over time
• Facilitating Marketplace payments

The availability of specific payment features may vary depending on your jurisdiction, user category, chosen payment method, and applicable regulatory requirements. We will always be transparent about what is available to you.

10Payment Instructions

You are responsible for ensuring that every payment instruction you submit through Benmort Pay is accurate, complete, and properly authorised. Please take care when entering payment details — errors can delay or misdirect transactions.

Once a payment instruction has been processed, it may not be possible to cancel it. Cancellation will only be available where permitted by applicable law, payment network rules, or Benmort’s operational procedures at the time.

Benmort may decline or delay processing a payment instruction where additional verification is required, where the transaction appears inconsistent with these Payment Terms, or where we have reason to believe the instruction may be erroneous or unauthorised.

11Holding of Funds

Where applicable and agreed, Benmort Pay may temporarily hold funds in connection with eligible transactions within the Benmort Connect ecosystem. This service is designed to reduce payment risk and give both Buyers and Service Providers confidence that funds are secure while work is in progress or conditions are being fulfilled.

Funds may be held pending any of the following:

• Completion and confirmation of agreed project milestones.
• Confirmation of service delivery by the Buyer.
• Verification of contractual obligations between the parties.
• Completion of identity or compliance verification.
• Resolution of an authorised dispute.
• Buyer approval where required under the applicable agreement.
• Any other agreed release conditions specified at the time of the transaction.

12Release of Funds

Funds held through Benmort Pay will be released when any of the following conditions are met:

• The agreed contractual conditions between the Buyer and Service Provider have been fully fulfilled.
• The applicable review or acceptance period has expired without a valid dispute being raised.
• Both parties jointly authorise the release of funds.
• Benmort determines that release is appropriate following the conclusion of a dispute resolution process.
• Release is otherwise required by applicable law or court order.

Benmort reserves the right to delay the release of funds where additional verification is required, where a dispute is pending, or where a regulatory review is underway. We will notify you of any such delay and aim to resolve it as quickly as possible.

13Transaction Holds

From time to time, Benmort may need to place a temporary hold on a transaction. We do not do this lightly — but it is an important part of how we protect Users and comply with our legal obligations. A hold may be placed where reasonably necessary to:

• Verify your identity or account information.
• Investigate suspected fraud or financial crime.
• Comply with applicable law or regulatory requirements.
• Conduct a compliance review.
• Respond to a court order, regulatory request, or law enforcement direction.
• Investigate a payment dispute.
• Protect the interests of other Marketplace participants.
• Manage operational or financial risk.

We understand that transaction holds can be inconvenient. We will always aim to resolve them as quickly as possible and to keep you informed of progress where we are permitted to do so.

14Merchant Responsibilities

If you are using Benmort Pay as a Merchant, you take on specific responsibilities to ensure that your use of the service is lawful, professional, and in keeping with the standards of the Benmort Connect ecosystem. By using Benmort Pay as a Merchant, you agree to:

• Provide accurate and complete business information at registration and keep it up to date.
• Maintain all required licences, permits, registrations, and insurance relevant to your business and the services you offer.
• Comply with applicable consumer protection laws and honour your contractual obligations to customers.
• Maintain accurate and complete records of all transactions.
• Cooperate fully with any compliance reviews, audits, or investigations initiated by Benmort.
• Respond promptly and professionally to customer enquiries and disputes.
• Comply with Benmort’s acceptable use requirements as updated from time to time.

Merchants remain solely responsible for the quality, legality, and delivery of the products and services they provide to their customers. Benmort’s role is to facilitate payment — not to verify, guarantee, or endorse merchant products or services.

15Customer Responsibilities

As a customer using Benmort Pay to make payments, you play an important role in keeping transactions secure and accurate. You agree to:

• Ensure that every payment instruction you submit is accurate, complete, and authorised by you.
• Use only payment methods that are legitimately available to you.
• Ensure that sufficient funds are available in your account or payment method before initiating a transaction.
• Report any unauthorised transactions to Benmort promptly after you become aware of them.
• Cooperate fully during any dispute or fraud investigation.
• Provide accurate information when requested by Benmort in connection with a transaction.

You must not knowingly initiate fraudulent, unauthorised, or deceptive transactions. Such conduct may result in account suspension, legal action, and reporting to relevant authorities.

16Refunds

We understand that sometimes payments need to be returned. Refunds may be processed in the following circumstances:

• A transaction is cancelled in accordance with the applicable agreement.
• A duplicate or erroneous payment has been made.
• Services qualify for a refund under Benmort’s Refund Policy.
• Applicable law requires a refund to be issued.

Please be aware that refund processing times may vary depending on factors outside Benmort’s direct control, including financial institutions, card issuers, payment networks, and banking systems. We do not guarantee immediate availability of refunded funds.

Refund requests should be submitted through Benmort’s official support channels. We will review each request fairly and aim to communicate the outcome to you promptly.

17Payment Reversals

Benmort may reverse a transaction in any of the following circumstances:

• A duplicate transaction has been processed.
• A processing error has been identified.
• Fraudulent activity has been confirmed.
• An unauthorised transaction has been detected.
• A legal obligation requires reversal.

Users acknowledge that reversal rights may also be governed by applicable payment network rules and the policies of financial institutions involved in the transaction. Where a reversal has a material impact on you, we will notify you as soon as reasonably practicable.

18Chargebacks

Where payments are made using payment methods that support chargeback rights, Benmort may cooperate with payment service providers and card schemes during chargeback investigations. If a chargeback is initiated against a transaction in which you are the Merchant, you agree to:

• Provide all documentation reasonably requested by Benmort in connection with the chargeback.
• Cooperate fully and promptly with the investigation.
• Respond within any specified timelines communicated to you.

Failure to respond within the specified timeframe may result in chargeback liability being assigned to you as the Merchant, where permitted by applicable law and payment network rules. We encourage Merchants to maintain good transaction records and respond to chargeback notifications without delay.

19Payment Errors

If you believe that a payment has been processed incorrectly, please notify us as soon as possible. Specifically, you should contact us if you notice any of the following:

• A payment has been processed for an incorrect amount.
• Funds have not been received within a reasonable time after a confirmed payment.
• A duplicate charge has appeared on your account.
• Any unauthorised activity has taken place in connection with your Benmort Pay account.

Benmort will investigate reported payment errors within a reasonable period of time and will communicate the outcome to you. The sooner you report an issue, the more effectively we can investigate it.

20Transaction Monitoring

Benmort monitors transactions on an ongoing basis. This is an essential part of how we protect Users, meet our regulatory obligations, and maintain the integrity of Benmort Pay. Monitoring activities may be carried out for purposes including:

• Fraud prevention and detection
• Operational risk management
• Financial crime detection
• Security monitoring
• Sanctions compliance screening
• Service quality improvement
• Anti-money laundering compliance

All monitoring activities are conducted in accordance with applicable law and the Benmort Privacy Policy. Where we identify a concern, we may contact you for additional information, or we may take the steps described elsewhere in these Terms.

21Restricted Transactions

Benmort Pay may not be used in connection with any transaction that is unlawful, harmful, or prohibited. The following categories of transactions are strictly prohibited:

• Unlawful goods or services
• Fraudulent investment schemes
• Prohibited financial activities
• Unauthorised fundraising
• Money laundering
• Illegal gambling
• Terrorist financing
• Prohibited weapons
• Sanctions violations
• Human trafficking
• Counterfeit products
• Bribery or corruption
• Intellectual property infringement
• Any other activity prohibited by applicable law or Benmort policy

Benmort reserves the right to refuse, suspend, reverse, or report any transaction that falls into one of these categories. We may take immediate action without prior notice where the circumstances require it.

22Transaction and Payment Limits

Benmort may apply transaction limits to your account based on factors including:

• Your verification status
• Your jurisdiction
• Your transaction history
• Applicable regulatory requirements
• Your assessed risk profile
• The payment method you are using

Transaction limits may be revised periodically without prior notice where reasonably necessary to protect Users or comply with legal obligations. Higher limits may be available following successful completion of enhanced verification. Please contact us if you need to discuss your limits.

23Fees

Benmort may charge fees in connection with payment services. These may include:

• Payment processing fees
• Currency conversion fees where applicable
• Merchant service fees
• Premium payment feature fees
• Transaction administration fees
• Account service fees
• Holding of funds service fees

All applicable fees will be disclosed to you clearly before they become payable. There will be no hidden charges. Where permitted by law and agreed service arrangements, Benmort may deduct applicable fees directly from payments processed on your behalf.

We may update our fee schedule from time to time. We will give you reasonable notice of any fee changes before they take effect.

24Taxes

You are responsible for understanding and meeting any tax obligations that arise from your use of Benmort Pay and from the transactions you carry out through it. This includes determining, collecting, reporting, and paying any applicable income tax, VAT, withholding tax, or other levies in your jurisdiction.

Benmort may request tax-related information from you where necessary to comply with its own legal or regulatory obligations. Where applicable law requires Benmort to collect, withhold, or remit taxes on your behalf, we will do so and will inform you accordingly.

25Security

Benmort maintains appropriate administrative, technical, and organisational safeguards to protect the security, integrity, and availability of Benmort Pay. We take the protection of your payments and your data seriously.

Security is a shared responsibility. As a User, you also have an important role to play. You agree to:

• Keep your username, password, one-time passwords (OTPs), API keys, and all authentication credentials secure and confidential.
• Enable available security features, including multi-factor authentication (MFA) where it is offered.
• Notify Benmort immediately if you become aware of any suspected unauthorised access, fraud, or security incident involving your account.
• Ensure that any devices used to access Benmort Pay are adequately protected with up-to-date security software.

You are responsible for all activities conducted through your account unless applicable law provides otherwise. If you believe your account has been compromised, contact us immediately through our official support channels.

26Data Protection

Benmort processes your personal and business information responsibly and in accordance with the Benmort Privacy Policy, applicable data protection and privacy legislation, and regulatory obligations relating to payment services.

Information collected in connection with Benmort Pay may be processed for purposes including:

• Identity verification (KYC)
• Customer support
• Payment processing and settlement
• Transaction monitoring
• Fraud prevention and detection
• Dispute resolution
• Regulatory compliance
• Service improvement

By using Benmort Pay, you consent to such processing to the extent necessary for the lawful provision of the service. We encourage you to read our Privacy Policy to understand your rights and how your information is protected.

27Confidentiality

Both Benmort and Users must treat payment-related information with appropriate care and discretion. Confidential information in the context of Benmort Pay includes:

• Banking and account information
• Merchant business information
• Payment credentials
• Customer information
• Transaction histories and records
• Business records and financial data
• Pricing arrangements
• Commercially sensitive information

Confidential information must not be disclosed except:

• With the express written authorisation of the owner.
• Where disclosure is required by applicable law, court order, or regulatory direction.
• Where necessary to complete a legitimate transaction through Benmort Pay.
• Where required for fraud prevention or regulatory compliance purposes.

These confidentiality obligations continue after the termination of your relationship with Benmort Pay.

28Third-Party Payment Providers

Benmort Pay works with a network of third-party payment service providers, financial institutions, banks, mobile money operators, card schemes, payment gateways, and other financial service providers to deliver our payment services. The availability, timing, and processing of transactions may depend on these partners.

While we take care in selecting our payment partners, Benmort is not responsible for:

• Service interruptions or outages caused by third-party providers.
• Network or telecommunications failures outside our control.
• Processing delays attributable to banks, card schemes, or payment networks.
• Errors or actions of third-party financial institutions.
• Payment network outages or system failures.

We will always work proactively with our partners to resolve any issues that affect your payments and to keep you informed where we are able to do so.

29Service Availability

We work hard to ensure that Benmort Pay is reliable and consistently available. However, like all technology-dependent services, we cannot guarantee uninterrupted or error-free operation at all times.

Services may be temporarily unavailable due to:

• Scheduled maintenance
• Banking system interruptions
• Security updates and patches
• Regulatory requirements
• Software upgrades
• Force majeure events
• Telecommunications or internet failures

Where we are planning maintenance or system upgrades that will affect service availability, we will provide advance notice wherever reasonably practicable. For urgent or unexpected issues, we will communicate updates through our official channels as quickly as possible.

30Suspension of Services

Benmort may suspend or restrict access to Benmort Pay where reasonably necessary. Suspension may occur in the following circumstances:

• Where we are investigating suspected fraud or financial crime involving your account.
• Where continued access presents an unacceptable risk to other Users or to Benmort.
• Where we are required to comply with applicable laws, regulatory directions, or court orders.
• Where a cybersecurity threat needs to be contained.
• Where these Payment Terms have been breached.
• Where we need to manage an operational or financial risk associated with your account.

Where the circumstances permit, we will request additional information from you and give you an opportunity to respond before taking permanent action. Our aim is always to act proportionately, fairly, and in compliance with our legal obligations.

31Termination

You may stop using Benmort Pay at any time. However, before doing so, you must:

• Ensure that all outstanding transactions have been completed and settled.
• Pay any applicable fees that remain outstanding.
• Fulfil any outstanding regulatory obligations associated with your account.

Benmort may terminate or permanently restrict your access to Benmort Pay in the following circumstances:

• Where these Payment Terms have been materially breached.
• Where fraudulent or unlawful activity is identified or confirmed.
• Where continued access presents an unacceptable legal, operational, or reputational risk.
• Where required by applicable law or regulatory authority.

Termination of your access to Benmort Pay does not affect any rights or obligations that were established before termination, including obligations relating to confidentiality, outstanding payment of fees, dispute resolution, and compliance requirements that are intended to survive termination.

32Limitation of Liability

We do everything we can to provide a reliable, secure, and well-functioning payment service. However, to the fullest extent permitted by applicable law, Benmort shall not be liable for:

• Indirect, incidental, consequential, special, or punitive damages of any kind.
• Loss of profits, revenue, business opportunities, goodwill, or data.
• Delays caused by banks, payment processors, telecommunications providers, or regulators beyond Benmort’s reasonable control.
• Unauthorised transactions resulting from your failure to protect your account credentials.
• Service interruptions or failures beyond Benmort’s reasonable control.

Where our liability cannot lawfully be excluded, Benmort’s aggregate liability arising from a specific transaction will not exceed the total fees paid to Benmort in connection with that transaction. Nothing in these Payment Terms excludes liability that cannot lawfully be excluded under applicable law.

33Indemnification

If Benmort suffers loss, incurs costs, or faces a claim as a result of your actions or omissions in connection with Benmort Pay, you agree to indemnify, defend, and hold harmless Benmort, its directors, officers, employees, affiliates, contractors, agents, and representatives.

This obligation applies where a claim arises from:

• Your breach of these Payment Terms.
• Your misuse of Benmort Pay.
• Unlawful conduct in connection with your account or transactions.
• Your violation of applicable laws or regulations.
• Your infringement of the rights of any third party.
• Your negligent or fraudulent acts or omissions.

34Dispute Resolution

If you have a concern about a payment or transaction, we encourage you to contact us first. Many issues can be resolved quickly through direct communication, and we will always try to help.

Where you notify us of a payment dispute, Benmort may investigate the matter and, where appropriate, facilitate communication between affected parties. However, our involvement in facilitating communication does not make Benmort a party to any underlying commercial contract between Buyers and Merchants, nor does it require Benmort to adjudicate on matters of contractual performance.

If a dispute cannot be resolved amicably through direct engagement, the parties may pursue mediation, arbitration, or court proceedings as permitted under the applicable agreement and governing law. We encourage parties to exhaust informal resolution routes before resorting to formal proceedings.

35Compliance with Laws

All Users must comply with all laws and regulations applicable to their use of Benmort Pay. This includes, without limitation, laws concerning:

• Payment services and electronic transactions
• Consumer protection
• Anti-money laundering (AML)
• Data protection and privacy
• Counter-terrorist financing (CTF)
• Anti-corruption and bribery
• Sanctions and export controls
• Financial reporting obligations
• Taxation

Benmort may take any action reasonably necessary to comply with its own legal or regulatory obligations, including refusing, delaying, or reversing transactions, providing information to regulatory authorities, and suspending or terminating accounts.

36Amendments

We may revise these Payment Terms periodically to reflect changes in applicable law, regulatory requirements, our operational practices, new payment services we introduce, or security enhancements we implement.

Updated Payment Terms will take effect upon publication or notification to you. Where changes are material, we will notify you through our official channels before they take effect. Your continued use of Benmort Pay after the effective date of any revision constitutes your acceptance of the updated Terms.

If you disagree with any amendment, please stop using Benmort Pay before the revised Terms take effect and contact us to discuss your options.

37Severability

If any provision of these Payment Terms is found by a court or competent authority to be invalid, illegal, or unenforceable, that provision will be read down or severed to the minimum extent necessary. The remaining provisions of these Payment Terms will continue in full force and effect.

38Entire Agreement

These Payment Terms, together with the Benmort Connect General Terms of Use, the Benmort Privacy Policy, the Marketplace Terms of Service (where applicable), and any service-specific agreements, constitute the complete agreement between you and Benmort Connect governing your use of Benmort Pay.

These Terms supersede all prior understandings, representations, or agreements relating to Benmort Pay, whether oral or written.

39Contact Us

We are always happy to hear from you. If you have questions about these Payment Terms, a concern about a transaction, or need support with any aspect of Benmort Pay, please get in touch through our official channels.

We aim to respond to all payment-related enquiries within 2 business days.

40Your Acceptance

By creating a Benmort Pay account, initiating or receiving payments, authorising transactions, using the holding of funds service, or otherwise accessing Benmort Pay in any capacity, you confirm that you have read and understood these Payment Facilitation & Holding of Funds Terms in their entirety and agree to be legally bound by them.