Framework agreement for the issuance of electronic money and provision of payment services by means of Mobile and Web application 10n Pay
The present Framework agreement for the issuance of electronic money and provision of payment services using Mobile and Web application 10n Pay („Framework Agreement”, referred to hereafter as “Agreement”) is concluded between TENEN PAYMENTS JSC, with headquarters and address of management: city of Sofia 1303, Vazrazhdane city area, 20 Todor Alexandrov blvd.., entered in the Commercial Registry with Registry Agency under Unified Identification Code 206032163, in the capacity of an electronic money institution within the meaning of the Law on payment services and payment systems, which carries out its activities under a license, issued as per Decision nr. 131 dated 27th April 2021 of the BNB Governing Council and ……………….., in its capacity of the Client.
This Framework agreement enters into force on the date of its acceptance by the Client by the procedure for onboarding acceptance provided in this agreement and all appendixes to it.
„Profile “– the result of registration created online in the computer system of 10n Pay, in which personal data of the registered person is saved, and a Client login name is created for access to the System of 10n Pay for obtaining transactions history overview or security settings configuration.
„Annex“ or „Additional agreement“ – an agreement between TENEN PAYMENTS JSC and the Client on the provision and use of separate services provided by TENEN PAYMENTS JSC. Each additional agreement represents an integral part of the present Agreement.
„Balance“– electronic money (monetary expression) issued by TENEN PAYMENTS JSC in its capacity as an electronic money institution upon receiving funds under the conditions of the present Framework agreement, deposited with and stored in the Account of the Client.
„Electronic money“ – nominal value of the money provided by the Client, credited to, transferred and held in electronic format in an Electronic account for the processing of payment operations/transactions via the System, representing a receivable from the Issuer.
„Electronic account“ or „Account for electronic money“ or „Account“– the operational part of the Client’s Profile by which the Client accesses its funds, being a account opened in the System on behalf of the Client and used for making payments and execution of other payment operations/transactions. Account is being opened only upon identification of the client. After successful identification and verification of the Client, conducted in accordance with the conditions and procedures of the Issuer, the Client receives an individual IBAN for incoming and outgoing transfers from and to the electronic money account.
„Law“– Law on payment services and payment systems, in force in the Republic of Bulgaria.
„Client’s identification“ – confirmation of Client’s identity according to a procedure defined by the Issuer, set forth in this Agreement and the appendixes to it, being an integral part of the present contract.
„Extract“ – a document prepared and certified by TENEN PAYMENTS JSC, which includes information about the payment operations performed within a specific period of time.
„Issuer“ – a company issuing Electronic money – TENEN PAYMENTS JSC in its capacity of the company, which has obtained a license for operating as an electronic money institution within the meaning of Art. 34, par. 2, item 2 of the Law, providing services on issuance, distribution and redemption of electronic money.
„Client“ – a natural person having full legal capacity or a legal entity that has registered in the System and has created a Profile.
„Commission (fee)“ – fee for a payment operation and/or related services, charged by and payable to the Issuer.
„Personal details“ – any and all information related to a natural person whose identity is known or who could be directly or indirectly identified by means of the following information: personal identification number (PIN) and one or more specific features with regard to physical, psychological, economic, cultural or social characteristics, specific to the particular person as set out in Regulation (EU) 2016/679 of the European Parliament and of the Council from 27.04.2016 („General Data Protection Regulation”).
„Mandate“ – the SEPA direct debit mandate or the direct debit mandate in BGN through BISERA6, provided by the Client to the Recipient in writing, signed personally by the Client or submitted electronically in hard copy format, representing a preliminary statement (prior to executing the payment transaction) consent, by which the Recipient is being authorised to collect funds through SEPA direct debit payment transactions or direct debit in BGN through BISERA 6 from the Account opened with TENEN PAYMENTS JSC and containing an order, by which TENEN PAYMENTS JSC is being instructed to execute SEPA direct debit payment transactions or direct debit in BGN at the request of the Recipient and transferred to the Account. The Mandate is submitted in compliance with the conditions on Item 6.4 and contains the features specified in item 6.5.1 and item 6.5.2 of the Agreement.
„Mobile and web application 10n Pay“ – program for account management used through a web platform and mobile devices.
“Payment Initiation Order” – an explicit consent of the Client authorizing the Issuer to instruct another payment service provider where the Client has an open payment account to initiate a transfer from the account with that payment service provider. The payment initiation order contains an instruction to the Issuer to submit on behalf of the Client a Payment Order to another payment service provider containing the particulars stipulated under this Agreement. The payment service providers in respect of which the Client may authorize the Issuer to issue a Payment Initiation Order are disclosed in the 10n Pay System;
“ Account information order” – an explicit consent of the Client, in his capacity as a user of payment services, given in accordance with the terms of this Agreement, in favor of Tenen Payments AD, in its capacity as an account information service provider, completed by the Client instructing the payment service provider, servicing the account in respect of which information is requested, to submit the information requested through the Issuer. The account information order is being submitted via the Mobile and web application 10n Pay which explicitly specified the IBAN of the account/accounts in respect of which information and the type of the requested information are requested;
„Money transfer/remittance“ – payment transaction in which money is transferred to anaccount of the Recipient / a payment account with another payment services provider or to an electronic money account with the Issuer/at the Client`s request.
„Password/passwords“ – client’s code, provided to the Client for access to the Profile and/or the Account or a code created by the Client in the System and used for strong customer Authentication/Verification and/or for initiation t, confirmation and management of separate services provided by TENEN PAYMENTS JSC and/or for initiation, authorisation, performance, confirmation and receipt of payment operation/transaction.
„Payer“ means the Client who submits a Payment order.
„Payment operation/transaction“ – the action was taken upon the request of the Payer or the Recipient related to the transfer of funds.
„Payment service“ – a service during the provision of which conditions for execution of Electronic money transactions are created, as well as any and all transactions related to the management of the Account, including execution of payment operations, transfer of funds to payment account of the Client with the Issuer or to payment account with another payment services provider:
execution of direct debits;
- credit transfers, including standing orders;
- payment initiation services;
- account information services;
„Payment order/Order for payment“ – an order (money order) by the Client to the payment services provider to execute a payment operation/transaction. The payment order includes instructions given by the Client to TENEN PAYMENTS JSC regarding the name of Client – payer, IBAN of the Client, amount, currency, recipient (name/company designation, IBAN of recipient), date of submitting the payment order, start and end date of payments, reason, additional explanations.
„Recipient“ – natural person or legal entity, another organisation or its branches specified in the payment order as the recipient of the funds, which are subject to the payment operation/transaction.
„Consumer“ – a natural person who, according to LPSPS, is a user of the payment service. With contracts for providing payment services, the Consumer performs an activity different than its commercial or professional activity.
„Working day“ – a day other than weekends or official holidays in the Republic of Bulgaria.
„System“ or „System of 10n Pay“ – a software solution, which is the intellectual property of TENEN PAYMENTS JSC and is accessible via the website and the mobile application of TENEN PAYMENTS JSC. The software solution is used for providing the Services on emission, storage and execution of payment transactions with electronic money, as well as the redemption of electronic money and the related with this opening and keeping of accounts for electronic money, collection and exchange of data, which system is owned by TENEN PAYMENTS JSC and is developed, operated and maintained by TENEN PAYMENTS JSC.
„Agreement“ – An Agreement between TENEN PAYMENTS JSC and the Client, which includes the Framework agreement for the issuance of electronic money and providing of payment services by means of Mobile and Web application 10n Pay, the applications (if any), an integral part of it, as well as any other documents (Annexes/Additional agreements, Rules, Declarations etc.), including but not limited to Internet pages, to which there is any reference given in this Framework agreement.
„Party“ – TENEN PAYMENTS JSC or the Client.
„Consent“ – consent of the Payer to execute a payment transaction with the owned by him/her electronic money, submitted in the order of Art. 8 of the Agreement.
„Authentication/Verification of the Client“– procedure for verification of the identity of the natural person or legal entity (including the “profound establishment of the identity of the client” in the sense of Art. 4, paragraph 30 of Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015), on the grounds of the use of two or more elements, categorised as knowledge (for example static password, code, personal identification number), ownership (for example token, smart card, mobile phone, OTP code/ one time password/, QR code) and a characteristic feature (for example as biometric characteristics such as a fingerprint) specified in details in Appendix No. 1 to this Agreement . This procedure is applied when the Client sign-in to its payment account online or via other means for remote access and initiates an electronic payment transaction through a means of remote access and conducts any activity that may be associated with a risk of payment fraud or other type of abuse. When submitting Account information order and/or Payment initiation order and for the purposes of the strong customer authentication the rules and procedures of the payment service provider servicing the account shall be applied.
„Unique identifier“– a combination of letters, numbers or symbols, which TENEN PAYMENTS JSC, in its capacity of payment services provider, provides to the Client and which I use for identification of the Client, participating in the payment operation in the System and/or account of the Client when completing the payment operation within the System in respect of which the the IBAN designation is accessible.
„Service“ – service on issuance, storage and redemption of electronic money and any payment services, defined in this Agreement in accordance with the Law and provided by TENEN PAYMENTS JSC, as well as any other additional and ancillary services, provided by TENEN PAYMENTS JSC with regard to the issuance, storage and redemption of electronic money conducted in compliance with the applicable legal requirement ;
ІІ. General Provisions
- The electronic money issued by TENEN PAYMENTS JSC does not constitute either a deposit or other repayable funds within the meaning of the Law on Credit Institutions. The Client is not protected by the schemes for deposit guaranteeing and compensation of the depositors established and maintained by the competent authorities. The Client is not entitled to accrue any interest on the balance of the electronic money or funds provided to and stored by TENEN PAYMENTS JSC in accordance with the present Agreement.
- Electronic money is issued by TENEN PAYMENTS JSC, in its capacity of an electronic money institution within the meaning of the Law, which opens and maintains electronic money accounts, the balances representing a claim of the Client towards the Issuer.
- The Client shall not reassign its rights, resulting from the present Agreement, without the prior written consent of TENEN PAYMENTS JSC.
ІІІ. Legal relation and Service
- Subject of the Agreement
1.1. The present Agreement determines the main rules and obligations of the Client from the one part and TENEN PAYMENTS JSC from the other, with regard to the providing the Services, as defined above and the use of the System of 10n Pay (including by installing the mobile and web application 10n Pay) by the Client.
1.2. The present Agreement is concluded for an indefinite period.
1.3. By signing the Agreement in the ways, order and according to the terms and conditions set out hereinunder, the Client confirms and agrees that for the purposes of making a successful registration under Art. 2 below, the Client has accepted the terms and conditions of the Agreement and all and any documents, representing an appendix to it, including that the Client has been informed on the Policy on Personal Data Confidentiality (accessible in the System and is an Appendix to this Agreement) and that the Client accepts the latter.
1.4. The provisions of the present Agreement, which apply only to the Consumers, are not applicable to Clients who are not Consumers in the sense of paragraph 1, item 40 of the Additional Provisions of the Law.
- Registration in the System and creation of a Profile.
2.1. Each Client who seeks to use the Services provided by TENEN PAYMENTS JSC should register in the System of 10n Pay. TENEN PAYMENTS JSC is entitled to refuse registration of a new Client without indicating the reasons. Each refusal to register a new Client by TENEN PAYMENTS JSC shall be based on significant reasons that the Issuer is not obliged to disclose.
2.2. During the registration in the System of 10n Pay, the Client’s Profile is created. The Profile is personal, and only its owner, i.e., the Client, has the right to use it (to enter into it by means of the option “Enter”). After the Client has signed up in the System and has finished creating its Profile in accordance with the provisions of Art. 2.7 – 2.18 hereinunder (regarding the procedures on identification and verification during the registration), the Account of the Client is being opened. The Account is used in accordance with the rules and principles specified in this Agreement.
2.3. Each Client could have only one Profile.
2.4. The Agreement enters into force and becomes valid for an unlimited period of time, considered from the time when the Client signs up in the System of 10n Pay, has acknowledged himself with the provisions of this Agreement and personally or via electronic means has expressed its agreement with all conditions on it.
2.5. In the process of registration in the System, the Client becomes acquainted with the content of the Agreement and expresses their consent to its terms and that he undertakes to adhere to them.
2.6. The Client confirms and declares that during their signing up in the System, he has provided up-to-date, complete, and reliable information about himself and reliable details about his identification and that for the period of using the service, he will keep the relevant information up-to-date and accurate. Upon each following change in the provided information, the Client agrees immediately to inform TENEN PAYMENTS JSC by means of reflecting the corresponding change in its online profile. In case of occurred damages (material or non-property damages) as a result of providing incorrect or false information, all consequences are on account of the Client and its burden. TENEN PAYMENTS JSC is entitled to request from the Client to fill in and periodically update a client’s questionnaire, as well as to require follow-up authentication and identity verification.
2.7. In accordance with the circumstances and procedures provided in the Agreement or in the 10n Pay System, the Client should confirm the Profile, the provision of a new service or part of a service, and conduct a Client identification procedure, which is a prerequisite for TENEN PAYMENTS JSC to start provides or continues to provide the Services. The procedures for the identification of the Client, verification of the Profile and the provision of new services are conducted to protect the interests of the Parties.
2.8. TENEN PAYMENTS JSC has the right to request data and/or documents (including identity documents) through which to identify the Client and/or to provide the relevant information about the Client necessary for the proper provision of services by TENEN PAYMENTS JSC to the client. A notice to the Client stating the need to submit certain documents and/or information shall be sent to the Client in the ways provided for in this Agreement to conduct the procedure of identification or confirmation of identity.
2.9. Upon completion of the Client identification procedure, TENEN PAYMENTS JSC has the right to require the Client to provide in original the documents and/or their copies, and/or certified copies of the required documents, which are certified by a notary or other person with such powers granted. It is from the respective country. The original documents and/or the certified copies shall be submitted via courier to the registered address of the Issuer as specified in this Agreement
2.10. The conditions, procedures and amounts of fees related to the identification of the Client are specified in the 10n Pay System, where the Tariff for fees and commissions charged by TENEN PAYMENTS JSC is published.
2.11. The Issuer is legally obliged to identify and verify the Client and its beneficial owner (if applicable) in accordance with the applicable legislation, including with regard to anti-money laundering and counter-terrorist financing (AML / FT) measures, as well as internal rules and procedures on identifying risks associated with AML. Pursuant to specific legal requirements or if the nature of the documents requires it (e.g., obligation to submit original documents), TENEN PAYMENTS JSC has the right to require the Client to conduct a specific procedure for identification and implementation of specific requirements specified by the Issuer
2.12. The parties agree that the Client may confirm (sign) documents (including agreements, consents, etc.) electronically (including, but not limited to, by signing them with a special tool / “chemical” / on-screen). Access to the Agreement is given by using the mobile and web application 10n Pay during the process of signing up or immediately after it, as this provides the possibility to access the agreement in a printable form.
2.13. TENEN PAYMENTS JSC is entitled to require at any time by the Client any additional information and/or documents related to the Client or transactions executed by him. Until the Client submits the requested information and/or documents, TENEN PAYMENTS JSC, at its sole discretion, could suspend the execution of any Client’s transaction until the Client submits the additional information and/or documents related to the suspended transaction. All documents and information required by the Client are prepared and provided at the cost of the Client.
2.14. The Client receives a notification for confirmation of the Profile, new services provided, and renewal of the provision of suspended services at the e-mail specified at the time of registration in the 10n Pay System or via SMS message, provided that the Client has only provided a mobile phone number.
2.15. The Client is not entitled to have more than one Profile in the System. Provided that the Client has sent incorrect information, he is obliged to correct it immediately. Provided that the Client has created several Profiles as a result of providing incorrect information, the Client is obliged to immediately inform TENEN PAYMENTS JSC about this, and in this case, all created Profiles will be merged into one. In case of violation of the provisions of this article, the Client’s access to the System may be blocked, illegal actions may be declared invalid, and the information may be provided to the relevant law enforcement authorities.
2.16. For the purposes of the successful signup process, the Consumer should meet cumulatively the following requirements, namely: (i) to be at least 18 years old and (ii) to be established in one of the countries specified in the Mobile and web application 10n Pay and/or on the website of TENEN PAYMENTS JSC; and (iii) to have successfully completed a procedure on identification and verification as well as all procedures with regard to the identification of risks with money laundering/terrorist financing, including in black (or similar) lists, lists of card deceivers inclusive.
2.17 Identification and verification: TENEN PAYMENTS JSC has the statutory obligation to identify and verify the identity of the Client in accordance with the applicable legislation on anti-money laundering and counter-terrorist financing measures and the internal procedures regarding the implementation of these measures.
2.18. For the purposes of successful registration and identification of the Client TENEN PAYMENTS, JSC requires the provision of personal data, such as (but not limited to) names, addresses (including utility bills to verify the address of the person), date of birth, tax identification number, email address, registered mobile phone etc.
2.19. Because of legislative reasons because of considerations related to risk management, or because of security measures, the Issuer is entitled to set and amend the limits, in case such limits are stipulated by the parties with an annex to this Agreement, unilaterally and without the Client’s consent, for which he/she should inform the Client via the System, except if there are any legal restrictions for submitting the such notification. TENEN PAYMENTS JSC is entitled at its sole discretion to change the limits after having received a client’s request for changing the limits. Transactions or operations on charging the Account or obtaining funds or transfers, which could exceed the specified limits, shall not be performed. All envisaged amendments under this item shall be provided to the User in advance through the System no less than two months before the date on which the changes are proposed to enter into force.
- Fees and commissions charged by TENEN PAYMENTS JSC, pre-contractual information and payment procedure
3.1. The fees and commissions for the services provided by the Issuer are specified in the Tariff for fees and commissions of TENEN PAYMENTS JSC (Annex to this Agreement and available in the System), charged by the Issuer. TENEN PAYMENTS JSC provides the Consumer with the Tariff for fees and commissions charged by the Issuer on hard copy or other durable media; the name of the document is “Document with information on fees” in accordance with the requirements of Art. 103, par. 2, item 7 of the Law before concluding the Agreement.
3.2. The Issuer shall make available for the Consumers the brochure of the European Commission on the rights of Consumers when using payment services in an accessible way on or other durable media and on its website.
3.3. The Consumer confirms and declares that he is familiar with the Tariff for fees and commissions charged by TENEN PAYMENTS JSC, as well as that he has received full pre-contractual information about all Services and about the fees and commissions charged in connection with their providing the Services.
3.4. The Issuer has the right to change the Tariff for fees and commissions unilaterally and is obliged to notify the Client in the ways and in the form provided by this Agreement, but not later than two months before the relevant change in the Tariff should enter into force. The changes in the Tariff for fees and commissions charged by the Issuer are reflected on the website and on the mobile application of the Issuer for the Services and/or in the application to which the Client has access through the created Profile. The document with information about the fees shall be provided on an electronic medium to the Consumer within the term set in this Article, sentence one.
3.5. The fees due by the Client are debited directly from the Balance on the Client’s Account. The amount of the commission fees are indicated to the Client before the payment transaction. The issuer charges and deducts the due commissions and fees upon execution of the payment operation/transaction. In case the commission fees have not been deducted during the execution of the payment transaction, TENEN PAYMENTS JSC has the right to deduct them subsequently, but not later than 2 (two) years after the execution of the payment transaction. The client shall be notified of the fees (commissions) deducted under the procedure provided for in this Article from the report under Article 106 of the Law on fees for the period for which the fee (commission) has been charged.
3.6. The Client confirms that he has read in detail and agrees with the Tariff for fees and commissions charged by the Issuer, being effective as of the date of concluding the Agreement.
3.7. TENEN PAYMENTS JSC has the right to charge fees for services provided in addition to the services subject to this Agreement, such as the submission of documents on paper or additional information other than those specified on the online platform.
3.8. The commission fees are payable in the currency specified in the Agreement, the Tariff for fees and commissions of TENEN PAYMENTS JSC and/or the Issuer’s website.
3.9. Provided that the transaction involves a currency exchange/conversion/, the exchange is made at the exchange rate valid at the time of conversion and indicated on the website or Mobile and web application 10n Pay of the Issuer, where it is updated and published from time to time (exchange rates apply immediately and without separate notice). The Client may be obliged to pay a currency exchange fee being a percentage in surplus of the specified exchange rate. The fee is determined according to the Tariff available on the Issuer’s website.
3.10. The Client undertakes to provide sufficient funds on the Account to be used for payment of the commission fees. If the amount of funds in the specified currency is insufficient to pay the commission fees, TENEN PAYMENTS JSC has the right to deduct the commission fee from the funds stored in the client’s account in another currency, exchanging the available currency from the account in the currency in which payment of the commission fees is due, in accordance with the exchange rates applied by TENEN PAYMENTS JSC.
3.11. In case the due remuneration for the Services provided by TENEN PAYMENTS JSC is not paid by the Client, TENEN PAYMENTS JSC has the right to change the tariff plan to one without current expenses by duly notifying the client.
3.12. In case of payment initiated by submission of Payment Initiation Order from a payment account with another payment services provider, immediately after the initiation of the payment Tenen, in its capacity of a payment initiation services provider, provides or makes available to the payment services user and, where necessary, to the recipient /the beneficiary/, the following information:
– Confirmation of the successful payment initiation to the payment services provider servicing the account;
-the registration number of the payment operation and where necessary information about the payer ( as well as any other information accompanying the payment operation);
– the amount of the payment operation;
– The amount of the fees payable to Tenen for the operation and any other relevant information under the Tariff
- Opening an Account. Conditions for issuance and redemption of electronic money.
4.1. The electronic money account is opened for the Client in the 10n Pay System under the terms of this Agreement for an indefinite period of time.
4.2. By opening the Account, the Client can deposit (make payments to), transfer (send), as well as store funds in its account for upcoming remittances (transfers), make local and international money transfers, receive money in its account, pay for products and services and perform other actions directly related to the transfer of funds under the terms of this Agreement and its Annexes, as well to obtain through the Issuer information regarding accounts and/or payment initiated from an account with another payment services providers according to a list contained in the System of 10nPay.
4.3. The money held in the Client’s Account is considered to be Electronic money, which TENEN PAYMENTS JSC issues after the Client deposits money into its Account. TENEN PAYMENTS JSC credits the Client’s Account with the money transferred by the Client, at the same time issuing Electronic Money at their nominal value. Electronic money is reflected and stored in the customer’s Account.
4.4. The Client selects a method for depositing money to the Account, selecting between the opportunity to execute transfer in the System of 10nPay or a transfer from account with another payment services provider to the Account of the Client using its Profile through the „Depositing money into an account” option by transferring funds in accordance with the instructions for crediting an account for each specific payment method. The data provided with the instructions for crediting the account are considered to be unique identifiers necessary for the correct execution of a payment transaction.
4.5. The Client is entitled to open multiple accounts in the same Profile in different currencies and to use them entirely at its discretion. The Client declares and confirms that he will not try to use multiple numbers of Accounts in different currencies for speculative trading.
4.6. Upon request of the Client, the Electronic money stored in the Account may be bought back at their nominal value at any time, except in cases specified in the Agreement, when restrictions apply to the Account.
4.7. The Client submits a request to TENEN PAYMENTS JSC for redemption (buyback) of Electronic Money by generating an order for the transfer of Electronic Money from its Account to any other account specified by the Client, as well as withdrawing Electronic Money from its Account in other ways, supported by TENEN PAYMENTS JSC and specified in the 10n Pay System. The Issuer has the right to impose restrictions on the buyback of electronic money in view of regulatory requirements and/or restrictions related to AML. The credit institutions and other payment services providers to which TENEN PAYMENTS JSC may send a money transfer are listed in the Issuer’s System. Any buyback under this Article depends on the successful completion of the application checks in connection with the implementation of anti-money laundering and counter-terrorist financing measures, fraud, or other possible abuses. The Client agrees to provide the information requested by TENEN PAYMENTS JSC for these checks to be conducted. Nothing in this clause limits the Issuer’s right to terminate the Agreement under other clauses or provisions of law. No specific conditions for the buyback of Electronic Money other than the standard conditions for money transfers and other payment transactions made through the Account will be applied.
4.8. The amount of the bought back or transferred electronic money is determined by the Client.
4.9 TENEN PAYMENTS JSC charges an additional fee for the buyback of Electronic Money, according to the tariff for fees and commissions. In case of buyback of electronic money, the Client pays a standard commission fee for money transfer or withdrawal, which depends on the payment transaction executed by Tenen Payments JSC. The standard commission fees of TENEN PAYMENTS JSC for money transfer or withdrawal of money according to the Tariff for fees and commissions of the Issuer are applicable.
4.10. In case the Client terminates the Agreement and submits a request for closing the Account and deletes its Profile in the System or if TENEN PAYMENTS JSC terminates the provision of Services on the Client’s Account and cancels/closes the Client’s Profile in the System in the cases provided in the Agreement, the funds, stored in the Client’s Account, are transferred to the Client’s bank account or to an account with another payment services provider/bank, payment institution or another electronic money institution/, specified by the Client. TENEN PAYMENTS JSC has the right to deduct from such refunded/transferred money all amounts due by the Client (fees due for services provided by TENEN PAYMENTS JSC, as well as expenses not paid by the Client, including but not limited to compensations for damages suffered by TENEN PAYMENTS JSC as a result of non-performance of the Client’s obligations under the Agreement, as well as expenses or compensations due to another financial institution and/or state authorities, etc.). In case of a dispute between TENEN PAYMENTS JSC and the Client, TENEN PAYMENTS JSC has the right to keep the money, subject to the dispute, until the resolution of the dispute.
4.11. If the Issuer fails to pay back the Client’s money due to reasons beyond its control, the Client shall be notified immediately. The customer is obliged to indicate another account or to provide additional information necessary for the money to be paid back (to redeem ). The Issuer is not responsible for delays in the redemption of electronic money due to the action or failure to act by a third party involved in the transfer of the bought-back money.
4.12. The Client is not entitled to electronic buyback money and cannot request such right from TENEN PAYMENTS JSC in case no Balance is available in the Electronic Money Account for any reason, as well as in case the Balance is not sufficient to cover any buyback fees.
- Use of Electronic Money Account.
5.1. The Client manages the Account by logging into the Account in compliance with the instructions of TENEN PAYMENTS JSC for proper verification of its identity by using a Unique Identifier. The Client can manage the Account and perform payment operations from the Account in the following ways:
– via the web, identifying himself and logging in to his Profile
– via the Mobile and web application 10n Payments.
Client confirmations, orders, requests, notifications, and other actions performed in the ways specified in this article by logging in and identifying in the Client’s Profile and thus identifying the Client are considered as an entering into transaction confirmed by electronic signature.
5.2. Money transfers/transactions can be made from the Client’s Account to other Client’s accounts in the 10n Pay System, to other Consumers’ accounts in the System, to bank accounts with ban operating on the territory of the Republic of Bulgaria, banks operating in the European Union and foreign banks (except for banks in foreign countries payment transaction to which are forbidden; TENEN PAYMENTS JSC informs the Client about such countries, by publishing information in the System and on its website) and to accounts with other payment services provides specified in the System.
5.3 Provided that the Client has not logged in to the Account and made transactions in the Account for more than one year if no funds are available on the Account, TENEN PAYMENTS JSC has the right to consider the Account and the Account(s) as inactive and to send 30 days prior notification to the Client for termination of the Agreement, afterwards the Account and the Account(s) shall be closed, except when the Client is a Consumer, in which case TENEN PAYMENTS JSC notifies the Consumer of the reasons and grounds for termination with notice of at least two months.
5.4. If at least one inactive account has funds available, TENEN PAYMENTS JSC will leave the Account open and will close only the accounts with zero balance. If the Client’s Account and the Account(s) with funds on them remain inactive for one year, TENEN PAYMENTS JSC will start applying a fee for maintaining the inactive Account and Accounts with available funds on them, which is specified in the Tariff for fees and the commissions charged by the Issuer. Currency exchange is based on the exchange rate valid at the time of conversion and is periodically updated and published on the website of the electronic money institution (exchange rates are applied immediately and without separate notice).
5.5. The prices for opening and maintaining an Account are included in the Tariff for fees and commissions, available on the website and in the mobile application of TENEN PAYMENTS JSC. Fees for the Services provided by the Issuer shall be paid by the Client in accordance with the provisions of Article 3 above. In case the Balance on the Client’s Account has not had enough funds for the execution of the requested payment, together with the fees and commissions due for the Services, the transfer of the funds ordered by the Client shall not be made.
5.6. Bank or electronic money transfer system held by another institution could apply fees for transferring money from the Client’s Account to a bank account of the Client or to a payment account in another payment services provider/bank, another electronic money institution or payment institution within the meaning of the Law /,, as well as in case of transfer of money funds from a bank account or another electronic payment system to the Client’s Account.
5.7. The list of banks and another electronic money institution or payment institution within the meaning of the Law to which money transfers can be made, fees and commissions due for transfers, as well as the conditions for executing any transfers, are indicated on the website and in the mobile application of the Issuer.
5.8. TENEN PAYMENTS JSC maintains functionality for executing internal transfers. The Client may make internal transfers in accordance with the terms of the tits Agreement. In order to make a proper payment order for internal transfer (from its Account to the account of another Consumer in the System), the Client should provide the full and correctly written names of the recipient, the exact details of the beneficiary’s account and other data, which may be required when making the order through the Service in the Mobile and web application 10n Pay.
5.9. Subject to all the terms of the Agreement, through the Service, the Client may make outgoing transfers from the Account. TENEN PAYMENTS JSC executes due payment orders for such transfers in accordance with the SWIFT rules for international transfers. In order to execute a proper payment order for an international transfer, the Client shall provide the full and correctly written names of the payee, the exact bank account details of the beneficiary, such as IBAN, BIC of the payee’s payment service provider, or other payee account details. And the SWIFT code of the payee’s payment service provider and other data as may be required by the service in the 10n Pay Mobile and Web Application.
5.10. In case the Payer submits incorrect information about the Recipient (unique identifiers) and the payment order is executed according to the data provided by the Payer (for example, the Payer has indicated an incorrect account number), it is considered that TENEN PAYMENTS JSC has duly and correctly fulfilled its obligations. Obligation to refund the transferred funds to the Payer. TENEN PAYMENTS JSC is not responsible for incorrect transfers based on incorrect or incomplete information provided by the Client. However, TENEN PAYMENTS JSC undertakes to take all necessary actions to track the payment transaction and will seek to return the funds for the payment transaction. In case of failure, the Payer should contact directly the person who received the funds and seek a refund from this person, except in exceptional cases when Tenen Payments JSC corrects the payment order on its own initiative or when there is sufficient information to take an objective decision on the correctness of the information in order to execute it according to standard procedures.
5.11 The Client is obliged to provide a payment order for the execution of money transfers, complying exactly with the instructions specified in the System and valid at the time of the transfer. In case the Client is a Recipient, the Client should provide detailed and accurate details to the Payer so that the payment order for execution of a payment transaction shall be, in all cases, adopted by the instructions provided in the System and valid at the time of the transfer. Before sending a payment order for the execution of a payment transaction or sending information to another Payer, the Client must check and be informed about the current instructions for transferring sums to the account. Such instructions and the data provided therewith are considered to be unique identifiers necessary for the correct execution of a payment transaction.
5.12 If the Payer submits an incorrect payment order or provides incorrect data on the money transfer, but the money transfer has not yet been executed, the Payer may request to correct the payment order. In this case, a fee for correction of the payment order is applied, as specified in the System.
5.13 Provided that TENEN PAYMENTS JSC receives funds but is not able to credit the funds specified in the payment order to the Recipient’s account (e.g., the Recipient’s account is closed, the specified IBAN number does not exist, etc.), TENEN PAYMENTS JSC, acting diligently, returns the amount of the transaction to the ordering party no later than five working days after it has been established that the operation cannot be executed. In this case, fees for returning a payment order, provided for in the Tariff, may be applied. If TENEN PAYMENTS JSC, despite of the due care under the previous sentence to return the payment operation amount, cannot credit the funds specified in the payment order to the Recipient due to errors made by the Payer when submitting the payment order, but the Payer requests a return of the funds specified in the payment order, the payment order may be cancelled, and the funds returned to the Payer, but only at the written request of the Payer and only if the Recipient agrees to return the money to the Payer (if the Recipient can be identified). In such case, the fees for cancellation of a payment order specified in the System shall apply.
5.14 In all cases when TENEN PAYMENTS JSC receives a payment order, but the funds cannot be verified due to errors in the payment order or insufficient information, and neither the Payer nor the Recipient contact TENEN PAYMENTS JSC to specify the payment order or refund the amount, TENEN PAYMENTS JSC takes all possible measures to track the payment transaction in order to obtain specific information and execute the payment order. The following measures can be used to track a payment transaction:
(i) When TENEN PAYMENTS JSC is aware of the contact details of the Payer (email address or telephone number), the Issuer shall contact the Payer to specify the payment order.
(ii) If TENEN PAYMENTS JSC has no contact details of the Payer and neither the Payer nor the Recipient contact TENEN PAYMENTS JSC regarding the funds indicated in the payment order, TENEN PAYMENTS JSC shall contact the payment service provider of the Payer, which has sent the funds indicated in the payment order with a request to contact the Payer to clarify the information specification. This measure is applied if there is a possibility to contact the payment service provider of the Payer through electronic communication tools.
(iii) In case the above measures fail to assist in tracking the payment transaction, TENEN PAYMENTS JSC has the right to make a transfer to the Payer for the amount of 0.01 EUR or other minimum amounts, indicating in the grounds for payment a request to contact the Payer and to specify the incorrect payment order by e-mail. This measure is applied if TENEN PAYMENTS JSC knows the number of the Payer’s account, the costs for such money transfer are reasonable, and the amount of the money transfer is not less than 10.00 (ten) euros.
5.15 In all cases described in the previous article, the fee for clarification/correction of the payment order specified in the System shall be applied by debiting it from the amount of the transfer before crediting the transfer to the account of the Client-Recipient.
5.16 If it is not possible to apply any of the measures specified in Art. 5.14, to track the payment transaction and in other cases when it is still impossible to identify the Recipient, according to the specified or corrected data, the funds are stored in the System until the Payer or the Recipient are related and additional data is provided that would allow the funds of the Recipient to be verified (after deducting the fee for specification or correction of the payment order from the transferred amount before paying it to the account of the Client-Recipient). Such funds may also be returned to the Payer upon a written request by the Payer. In this case, the refund fee specified in the System will be deducted from the transferred amount before returning it to the Payer.
5.17 Provided that to the Account of the Client, there has been added (credited) money by mistake or in other ways without any legal grounds, the Client is obliged to notify TENEN PAYMENTS JSC about this. The client has no right to dispose of funds that do not belong to him. In such cases, TENEN PAYMENTS JSC has the right, and the Client gives its irrevocable consent to TENEN PAYMENTS JSC to deduct the funds from the Client’s Account without an explicit order from the Client. In case the amount of money on the Client’s Account is insufficient to deduct the funds erroneously credited from the Account to other Client’s accounts, the Client is obliged to refund to TENEN PAYMENTS JSC the erroneously credited funds within 3 (three) working days after receiving an invitation (request) from TENEN PAYMENTS JSC. In case the Client fails to return in time the amounts credited by mistake, upon request of TENEN PAYMENTS JSC, the Client pays a daily penalty of 0.05% for each day of delay.
5.18. The Client can check the Balance on their account, as well as the history of transactions, by logging in to the Account, where he can find information about all due commissions, as well as other fees that are deducted from the account during a selected period of time.
5.19. The Client confirms and declares that:
– the money received on the Account has a legal origin and has not been acquired as a result of criminal activity;
– the Client will not use the services provided by TENEN PAYMENTS JSC for illegal purposes, as well as that he will not perform actions or operations in order to legalise money received as a result of criminal or other illegal activities.
5.20 The Client confirms the execution of a payment transaction with a one-time password received via SMS to the registered and verified client’s telephone number. The content of the message includes:
- a) Type of operation;
- b) Single code for confirmation;
- c) Amount and currency of transactions;
г) Unique identifiers (IBANor other identifiers) of the recipient’s accounts.
- Outgoing money transfers. Credit transfers, international, domestic transfers, and direct debit:
6.1. The Client can make outgoing transfers through the System from the Account in which there is a Balance in EUR or in BGN to each bank account in EUR or in BGN. Outgoing transfers in euros are made to any bank account kept in a country of the Single Euro Payments Area (SEPA). TENEN PAYMENTS JSC executes valid payment orders for such transfers in accordance with the legislation of the European Union regarding SEPA credit transfers. In order to submit a valid SEPA credit transfer payment order, the Client provides the full and correctly written names of the payee, the correct IBAN in EUR to the payee maintained in a SEPA country, available in the Mobile and Web Application 10n Pay. Subject to all the terms of the Agreement, and where available in the System, SEPA Instant credit transfers are credit transfers made in euros through SEPA. Credit transfers from the Account in which there is a Balance in BGN are made in compliance with the rules of the payment system BISERA 6, adopted by BORICA JSC and in accordance with the applicable national legislation.
6.2. The Client may make transfers to Recipients on their incentive through payment transactions for direct debit from the Client’s Account opened with TENEN PAYMENTS JSC on the base of thecollection order defined in this item 6.2 hereinunder . The Service – direct debit, allows the Client to make payments in EUR or in BGN to recipients through the Service, through SEPA (for EUR) or BISERA 6 (for BGN), where payments are made at the initiative of the Recipient on the grounds of a given in advance by the Customer consent.
SEPA includes the countries and territories described in the List of countries and territories participating in SEPA. The Client expressly agrees that the execution of the SEPA Direct Debit Service requires:
(i) The Recipient and supplier of payment services to the Recipient shall participate in the SEPA Direct Debit Core Scheme.
(ii) The Client provides a mandate for SEPA Direct Debit to the benefit of the Recipient when entering into relations with the latter and not later than 14 days prior to the maturity date of the direct debit.
(iii) The Recipient initiates the corresponding payment transaction by means of sending an order (“Order for collection”) for direct debit to TENEN PAYMENTS JSC by means of the supplier of payment services to the Recipient. The payment transactions on direct debit could be recurrent or one-time payments depending on the specified in the Mandate which the Client has given to the Recipient.
6.3 In order to use the direct debit service, the Client should provide the Recipient with the IBAN and BIC generated by TENEN PAYMENTS JSC, which TENEN PAYMENTS JSC provides to the Client as unique identifiers. The Client agrees that TENEN PAYMENTS JSC is authorised to execute a SEPA direct debit payment transaction, and this is only on the grounds of the unique identifier provided in the Collection Order sent by the payment service provider to the Recipient.
6.4. The Client agrees that the SEPA direct debit or direct debit mandate in BGN through BISERA 6, defined above, must be provided to the Recipient in writing, manually signed by the Client or on another durable carrier in electronic format, depending on the agreements between the Client and the Recipient, as well as the applicable requirements of the national legislation. The mandate should contain a statement authorising the Recipient to collect funds through SEPA direct debit or direct debit payment transactions in BGN from the Account opened with TENEN PAYMENTS JSC, representing an order instructing TENEN PAYMENTS JSC to execute payment transactions upon the request of the Recipient, which is directed to the Account.
6.5.1. The Mandate for SEPA direct debit should contain the following obligatory requisites and details:
(i)Unique identifiers (IBAN);
(ii)Unique reference of Mandate;
(III)identification of the Recipient (name, address, and country of the Recipient);
(iv)identifier of the Recipient;
(v)indication with regard to the nature of the Mandate (recurrent or one-time);
(vi)identification of the Client (name, address, and country);
(vii) name and address of the supplier of payment services (name of the Issuer, as it has been described in the Agreement) and
(viii)date and time of submitting the document;
(ix) term of validity of the consent and conditions upon which the consent is being given;
(х) signature of the Client;
The Mandate for SEPA Direct debit could contain other requisites, too, required according to the rules of the corresponding payment system, such as information agreed in advance between the Client and TENEN PAYMENTS JSC.
6.5.2. The Mandate for direct debit in Bulgarian levs should contain the following obligatory requisites and details:
(i) designation and address of the supplier of payment services to the payer to which the agreement is submitted;
(ii) date of submitting the document;
(iii) name (designation) of the payer;
(iv) signature of the payer;
(v) international number of the bank account (IBAN) of the payer;
(vi) name (designation) of the recipient;
(vii) term of validity of the consent;
(viii) conditions upon which the consent is being given.
The Mandate for direct debit in Bulgarian levs could contain other requisites, too, required in accordance with Ordinance Nr. 3 of BNB, as well as information agreed in advance between the Client and TENEN PAYMENTS JSC.
6.5.3. Upon executing a direct debit in currency other than levs and euro, the Issuer is entitled to follow any other sequence and procedures on providing consent and execution of the direct debit, as there should be applied the rules and the procedures of the payment system, used for processing of such payments.
6.6. The Client agrees that the document which makes valid the Mandate provided by the Client in favour of the Recipient remains at the disposal of the Recipient. The Client agrees that the Recipient is responsible for the data on the payment transaction order and may enter additional information in the required documents for the direct debit collection order.
6.7. The Client confirms that the Recipient sends the Collection Order to TENEN PAYMENTS JSC through the mediation of the payment service provider to the Recipient. The collection order also represents an authorisation by the Client towards TENEN PAYMENTS JSC to execute the respective direct debit transaction and to collect the funds specified in the Collection Order from the Client’s Account.
6.8. TENEN PAYMENTS JSC reserves the right to approve or refuse the form in which the Mandate is presented and/or, where necessary, to request from the Client or from the payment service provider of the Recipient a confirmation of the Mandate provided by the Client to the Recipient. Protection of its interests from possible fraud attempted.
6.9. The Client agrees that by granting a Mandate to the Recipient, the Client authorises the Recipient to send Orders for collection of payments from the Client’s Account opened with TENEN PAYMENTS JSC in connection with the SEPA Direct Debit or Direct Debit service in BGN and at the same time states, upon receipt of an order for collection of amounts, that he shall execute the direct debit by withdrawing the respective amounts from the Client’s Account.
6.10. The Client may at any time revoke the granted Direct Debit Mandate to the Recipient or refuse a certain direct debit transaction, as well as limit all payments under the Direct Debit Service in view of their frequency and/or the amount by sending a request/instruction to TENEN PAYMENTS JSC by e-mail sent from the e-mail address or the registered Account in the application, indicated by the Client during the registration process, or in another way determined by TENEN PAYMENTS JSC, where the Client should provide additional data for the Mandate or for the payment transaction in connection with which he wishes to make a revocation, as well as other additional data, which could be requested by TENEN PAYMENTS JSC.
6.11. The Client should send the refusal or the request for restriction of the payments under the Direct Debit Service, specified in the previous article, to TENEN PAYMENTS JSC not later than two business days before the due date of the direct debit under the respective Mandate, in order for TENEN PAYMENTS JSC to be able to refuse the Collection Order initiated in connection with the refused Mandate/payment transaction. The Client is obliged to notify the Recipient of the respective refusal or restriction of the payments under the Direct Debit Service in order to prevent subsequent Collection Orders sent to us by the payment service provider of the Recipient. TENEN PAYMENTS JSC has no obligation to notify the Recipient of the refusal or of the limitation of the payment. The Client agrees that in the cases where he has waived a Mandate, after sending the request for withdrawal of TENEN PAYMENTS, JSC will consider any subsequent Collection Order sent by the payment service provider to the Recipient in connection with the respective Mandate as unauthorised.
6.12. The Client may, at any time during the period of use of the Direct Debit Service, block its Account for the execution of Collection Orders initiated against TENEN PAYMENTS JSC by the Client’s Recipients. When choosing this option, the Client blocks the Direct Debit Service and instructs TENEN PAYMENTS JSC to refuse all initiated direct debit payment transactions sent by the payment service providers to Recipients.
6.13. The Client expressly agrees that upon receipt by TENEN PAYMENTS JSC of a Direct Debit Collection Order initiated by the Recipient, TENEN PAYMENTS JSC will debit the amount specified in the Collection Order from the Client’s Account at the due date of the direct debit. The maturity of the Collection Order initiated by the Recipient shall coincide with the maturity specified in the Mandate granted to the respective Recipient. In case the maturity of the direct debit is not on a business day, TENEN PAYMENTS JSC will debit the Account on the next business day. The Client agrees that the end of the SEPA direct debit payment transaction business day is 15:00 Central European Time (cut-off).
6.14. The account will not be debited, or the recovery order may be rejected or returned no later than the fifth business day following the due date of the direct debit, if:
(i) TENEN PAYMENTS JSC receives an application for revocation of the mandate for direct debit in accordance with the terms and conditions of the Agreement;
(ii) The specified IBAN by the Recipient in order for collection could not be related to the corresponding unique identifier of the Account, opened with TENEN PAYMENTS JSC; or
(iii) The Account has been closed or
(iv) The Account has been blocked for transactions for direct debit or has been blocked for any other reason or
(v) There is not enough Balance for executing the operation on direct debit or TENEN PAYMENTS. JSC has blocked the amounts with regard to the procedures on identification and verification of the Client, according to its rules and the applicable legislation or
(vi) The Client has not been duly identified or verified in accordance with the rules and procedures of TENEN PAYMENTS JSC and in accordance with the applicable legislation or
(vii) Invalidity of the code of operation, transaction, or type of sequence from operations/transactions, of the form of reorganisation of electronic data sent by the provider of payment services to the Recipient.
(viii) Because of reasons related to risk management or with regard to the implementation of anti-money laundering or counter-terrorist financing measures at the sole discretion of TENEN PAYMENTS JSC or
(ix) Because of other regulatory reasons or
(x) The conditions for execution of the Mandate have not been met if such has been set by the Payer (for example submitting particular documents etc.)
(xi) Direct debit cannot be completed by TENEN PAYMENTS JSC since the required documents for payment transaction SEPA direct debit do not contain:
– identifiers for a creditor or contain obviously false identifiers;
– a reference to the corresponding Mandate;
– information with regard to the date on which the Mandate has been given or
– information with regard to the maturity date of the direct debit.
6.15. In cases where the Client does not have sufficient funds on the Account to cover the amount of direct debit, the Client confirms and agrees that TENEN PAYMENTS JSC will not debit the Account and will treat the incoming Order for direct debit collection as pending for a period of 3 (three) working days, as of the maturity of the direct debit, after which TENEN PAYMENTS JSC will reject the payment initiated by the recipient, in case the Client does not provide the necessary funds. TENEN PAYMENTS JSC is not entitled to make partial payments on payment transactions SEPA Direct Debit.
6.16. In cases where the Account is blocked by TENEN PAYMENTS JSC, including, but not limited to, pending identification or verification of the Client, the Client confirms and agrees that he will not execute direct debits to the Account and will treat the direct debit as pending for a period of 3 (three) working days, as of the maturity of the direct debit, after which he will reject the payment initiated by the recipient if the reason for the blocking of the Account is not eliminated.
6.17. Notification for non-execution, cancelling the debiting or refusal:
(i) TENEN PAYMENTS JSC undertakes to immediately notify the Client of the non-execution, rejection or return of the Collection Order via SEPA Direct Debit to the e-mail address specified by the Client during the registration process or otherwise provided by the Agreement. TENEN PAYMENTS JSC indicates (if possible) the reasons and possible ways to overcome the circumstances hindering the execution of the transaction. The Client can find out about all payments through the SEPA Direct Debit Service in the Mobile and Web Application 10n Pay.
(ii) TENEN PAYMENTS JSC charges a fee specified in the Tariff for fees and commissions charged by the Issuer in cases where the Client is informed of a refusal to execute a SEPA Direct Debit Collection Order due to lack of funds provided by the Client.
6.18. Execution of the payment:
(i) TENEN PAYMENTS JSC debits from the Account the respective amount specified in the SEPA Direct Debit Collection Order at the maturity specified in the respective Order / Mandate and transfers the amount to the Payee’s payment service provider.
(ii) If the direct debit is not due on a business day, the execution period shall begin on the first following business day.
(iii) The Client will be notified of each execution of a payment transaction through the selected information channel for the Client Account and in accordance with the selected frequency of sending information.
6.19. Lack of activity with regard to a SEPA Direct Debit Mandate.
The Client agrees that TENEN PAYMENTS JSC has the right to refuse to initiate a payment transaction in connection with a specific Mandate if TENEN PAYMENTS JSC has not been presented with a payment transaction order for the respective Mandate in the last 36 months (from the date of the last initiation, including and in the event that the latter has been rejected, returned or reinstated). If the Client wishes to continue using the SEPA Direct Debit Service for the respective Recipient, the Client should prepare and provide a new Mandate to tits Recipient.
6.20. Right to refund authorised and unauthorised transactions and Compensation according to SEPA Direct Debit. Refund of not made or incorrectly made authorised payments
(i) Provided that an authorised payment transaction has been initiated by a Recipient through the Service SEPA direct debit and as a result of which the Account has been debited, the Client is entitled to seek a refund of the money by TENEN PAYMENTS JSC. The Client may exercise its right of refund within a period of up to 56 days from the date of debiting the Account. TENEN PAYMENTS JSC restores the Account Balance in the condition in which it has been before the SEPA direct debit payment transaction within 10 days of receiving the request for refund or refuses the refund, indicating the reason for this and the authorities through which the Payer may make an objection if it does not accept the stated grounds for refusal.
(ii) The Client agrees that the right to Refund under the above paragraph is precluded at the moment when the payment transaction under the SEPA direct debit collection order is explicitly confirmed to TENEN PAYMENTS JSC by him.
(iii) In case of unauthorised payment initiated by a Recipient through the SEPA Direct Debit Service, as a result of which the Account has been debited, the Client has the right to contest the payment and request from TENEN PAYMENTS JSC refund of the amount of the unauthorised transaction. TENEN PAYMENTS JSC is obliged to restore the amount debited from the Account immediately, but in each case not later than the end of the next business day, after it has noticed or it has been informed about the transaction, except when TENEN PAYMENTS JSC has reasonable doubts for fraud and informs the relevant competent authorities about that. Upon restoring the amount of the not permitted transaction, TENEN PAYMENTS JSC shall have no other claims against the Client for refunding the costs borne by TENEN PAYMENTS JSC.
(iv) The right of the Client to request a refund of the not permitted transactions expires if TENEN PAYMENTS JSC has not been informed about the not permitted transactions within a period of not more than 13 (thirteen) months from the debiting of the Account with the corresponding not permitted or incorrectly executed transaction.
(v) Customer shall incur all losses resulting from an unauthorised SEPA Direct Debit transaction if it has caused such fraud or failure to perform one or more of its obligations under the Agreement, intentionally or through gross negligence.
(vi) Provided that a permitted payment transaction shall not be executed or should be executed incorrectly, the Client has the right to seek from TENEN PAYMENTS JSC an immediate refund of the amount of the payment transaction on SEPA direct debit in its entirety. TENEN PAYMENTS JSC refunds the initial Balance of the Account in its status before the non-execution or before the incorrect debiting.
(vii) TENEN PAYMENTS JSC confirms that in addition to the Client’s right on the above-mentioned paragraph, the Client is entitled to seek from TENEN PAYMENTS JSC the refund of all charges and interests paid by the Client or debited from the Account with regard to the non-execution or the incorrectly executed payment transaction.
(viii) Provided that the payment transaction has not been executed correctly, TENEN PAYMENTS JSC, immediately upon request by the Client, shall undertake all reasonable measures for tracking the payment transaction, and it shall notify the Client about the result.
(ix) The Client confirms and agrees that any liability on the part of TENEN PAYMENTS JSC expires if TENEN PAYMENTS JSC proves that the full amount of the payment has reached the payee’s payment service provider on time or that the payment transaction has been executed in accordance with the incorrect unique identifiers of the Recipient provided by the Recipient.
(x) Any claims and objections against TENEN PAYMENTS JSC in connection with the non-execution or incorrect execution of transactions shall expire if the Client fails to inform about the grounds of these claims and objections within 13 months from the moment of the unauthorised or incorrect transaction. The starting point of this period is considered to be the moment when TENEN PAYMENTS JSC has informed the Client through Mobile and web application 10n Pay or in another way, which can be further agreed between the parties, but not later than one month from the moment of debiting the Account.
- Payment orders for transfers
7.1. For the purposes of executing a payment transaction via the Internet, the Client fills in a payment order in the System and sends it for execution; by doing this and by entering the one-time access code (OTP) or other security method (among the methods set out in the System and specified in Appendix 1 to thos agreement) the Client confirms electronically in the System its consent for execution of the transfer order. When submitting Payment initiation order and/or Account information order, the Client receives OPT or other security method by eneting and sending of which confirms in the Sysytem its consent for execution of the Payment initiation order.The payment orders submitted by the Client should be stated clearly, unambiguously, should include all the required requisites in accordance with the applicable national legislation, and they should include clearly expressed will of the Client. TENEN PAYMENTS JSC is not responsible for errors, inconsistencies, repetitions and/or contradictions in the payment orders provided for execution by the Client, including, but not limited to, the correctness and clarity of the requisites of the payment orders provided by the Client. If the payment order provided by the Client does not contain sufficient information or contains discrepancies, TENEN PAYMENTS JSC, regardless of the type of ambiguities in the payment order, may refuse to execute the submitted payment order or may execute it according to the information provided in the payment order.
7.2. When making an internal for the System transfer from its Account to the account of another Consumer in the System, the Client may choose to make a password-protected money transfer. In this case, the Client sets the password for the transfer when preparing the payment order. The money transfer is completed in full only when the Recipient enters the password set by the paying Client and provided by him to the Recipient. If the Recipient does not enter the password given to him by the Payer, the money is automatically returned to the Payer’s Account after the expiration of 30 (thirty) day-time period. The moment of authorization of such money transfer is considered to be the moment when the Recipient enters the password, and such transfer cannot be cancelled after the moment when the Recipient enters the password for the specific transfer. The Client is fully responsible for the manner and security of the manner in which the password is transmitted to the Recipient, as well as for communicating the password only to the Recipient of the funds.
7.3. The Client may indicate in the payment order a future date specified by him on which the payment is to be executed, which date may not be later than 2 (two) years after the date of filling in and submitting the payment order. If the amount of funds on the Client’s Account is sufficient as of the date indicated by the Client, the payment order shall be executed. Transfer to another account in the Issuer’s System will be made at the beginning of the specified day (00:00 a.m., depending on the time zone of the EET server). Transfer to a bank account is made within the terms specified in the System.
7.4. In case the payment order is filled in incorrectly TENEN PAYMENTS JSC acting diligently and ensuring all assistance necessary to facilitate the correct completion of the order .
7.5. If the amount of funds in the client’s account is not sufficient to execute the money transfer, no payment will be made. The system will make attempts to execute the payment within the next 5 (five) days from the moment of receipt of the payment order. If during tits period the amount of funds on the Account is still not sufficient for the execution of the payment order, the payment order shall be cancelled and will not be executed. If the amount of funds in the Account is not sufficient in the specified currency, but the account has sufficient availability in another currency, the transfer is not made until the Client converts another available currency into the currency in which the transfer is ordered (except when the Client has ordered an automatic conversion or when the transfer is made as payment for goods or services through the System).
7.6. The information about the made and received transactions is provided by TENEN PAYMENTS JSC in the statement on the Client’s account. The client can log in to its account and view this information for the desired period free of charge or print it out. In case of payment initiated by a Payment initiation order, after the initiation of the payment by the Issuer, the Issuer provides the Client with a confirmation for the successful initiation of the payment to the paqyment services provider servicing the account of the Client; a registration number of the payment operation and any other information accompanying the payment operation; the amount of the payment operation; where necessary, the amount of the fees payable to the Issuer for the operation, their type and amount.
7.7. When the Client is a Payer, the payment order is considered as received by TENEN PAYMENTS JSC (taking into account of the term for execution of such payment order starts) on the day of its receipt, and if the moment of receipt of the payment order is not a business day for the Issuer, the payment order is considered received on the first following working day for TENEN PAYMENTS JSC.
7.8. A payment order that is received on a business day for TENEN PAYMENTS JSC, but after the expiration of the Issuer’s working hours for the specific day, is considered received on the first following business day for TENEN PAYMENTS JSC.
7.9. Payment orders for transfers within the System shall be executed immediately (within few minutes, unless the payment transaction is suspended / terminated in cases referred to in the applicable legal provisions and this Agreement). The Issuer is obliged to provide for crediting of the payment account of the payment service provider of the Payer with the amount of the payment transaction by the end of the next business day after the receipt of the payment order, except for execution of payment transactions in BGN via RINGS. PAYMENTS JSC ensures the crediting of the payment account of the payment service provider of the Payer on the same business day on which the payment order is received. For payment transactions within the European Union, the term for execution of the payment transaction may be executed within 4 /four/ working days after the moment of receipt of the payment order.
7.10. TENEN PAYMENTS JSC has the right to record and store information on all payment orders submitted under this Agreement, as well as to record and store information on all payment transactions / transactions executed by the Client or in accordance with the Client’s payment orders. The above-mentioned records may be provided to the Client by TENEN PAYMENTS JSC and/or to third parties who have the right to receive such data, according to the applicable legislation, as evidence confirming the submitted payment orders and/or the executed payment transactions.
7.11. TENEN PAYMENTS JSC has the right to refuse to execute the payment order in case of reasonable doubt that the payment order or the documents submitted by the Client, or an authorized representative of the Client fail to meet the requirements of the legislation and/or TENEN PAYMENTS JSC has reasonable doubts about the authenticity and the genuineness of the documents in question. If TENEN PAYMENTS JSC has reasonable doubts that the payment order has not been submitted by the Client or the Client’s legal representative, or suspicion about the authenticity of the submitted documents, or other suspicion about the legality or content of the submitted payment order, TENEN PAYMENTS JSC has the right to request from the Client additional confirmation of the submitted payment order and/or submitting documents confirming the rights of the persons to manage the funds on the account.
7.12. Before executing a payment order submitted by the Client, TENEN PAYMENTS JSC has the right to require from the Client to provide documents proving the legal origin of the money that will be used to execute the payment order. If the Client does not provide such documents, TENEN PAYMENTS JSC has the right to refuse to execute the payment order.
7.13. TENEN PAYMENTS JSC has the right to transfer the activities fully or partially for the execution of the payment order submitted by the Client to third parties if this is required by the interests of the Client and/or the nature of the execution of the payment order. In case the Client’s payment order requires sending and execution of the payment by another financial institution, but this institution cancels the Client’s payment order, TENEN PAYMENTS JSC is not responsible for such actions of the financial institution but tries to establish the reasons for the cancellation. for payment. TENEN PAYMENTS JSC has the right to suspend and/or cancel the execution of the payment order submitted by the Client if this is required by the applicable legislation or for other reasons beyond the control of the Issuer.
7.14. In case of refusal by TENEN PAYMENTS JSC to execute a payment order submitted by the Client, TENEN PAYMENTS JSC shall notify the Client thereof or create the necessary conditions for the Client to become acquainted with such notifications, except when such notification is technically impossible or there is a prohibition. to provide such information in accordance with the Act or an act of the European Union.
7.15. TENEN PAYMENTS JSC does not accept and execute payment orders from the Client to execute transactions from the Client’s account, if the money in the account is seized, if the Client’s right to dispose of funds is legally limited in another way, or if the Client’s transactions are limited in the cases described in the applicable laws.
7.16. If the money transferred in execution of a payment order is returned due to reasons beyond the control of TENEN PAYMENTS JSC (incorrect information in the payment order, the Payer’s account being closed, etc.), the account is credited with the returned amounts. Fees that have been paid by the Payer for the execution of the payment order are not refundable.
7.17. The money transfers initiated by TENEN PAYMENTS JSC upon a Client’s order can be standard and urgent (if there is a technical possibility for their implementation). The money transfer method is chosen by the Client (if there is a technical possibility for this). If the Client does not choose the method of money transfer, it is considered that the Client has initiated a money transfer, which shall be executed by automatic selection of the most favourable conditions for the Client.
- Submitting and revoking an agreement, revoking a payment order
8.1. The initiation of payment by submitting the payment order in the System is considered as consent of the Client to execute the payment transaction and cannot be cancelled (cancellation of the payment order is possible only if the execution of the payment has not started – the status of each payment and the possibilities for its cancellation can be consulted in the Client’s Account). In the absence of consent, the payment transaction is considered unauthorized. The Payment initiation order submitted can not be cancelled by the Client if its execution has been started.
8.2. The Client (the Payer) may give its consent in the form and manner determined by TENEN PAYMENTS JSC or in those for which an agreement has been reached with the Issuer. Consent submitted in writing must be signed by the Client or its legal representative. Consent may also be confirmed by electronic signature, password, codes and/or other means of authentication. Consent to execute a payment transaction or multiple payment transactions may also be granted through the Recipient or the provider of the service for initiating payments. The consent confirmed in any of the ways described in this clause is considered duly confirmed by the Client (Payer), has the same legally binding force as a paper document (written consent) signed by the Client (its representative). The Client agrees that he has no right to contest a payment transaction executed by TENEN PAYMENTS JSC, if the payment order has been confirmed with consent submitted in the manner described in this Article.
8.3. The Order / Consent of the Client (Payer) is given (provided) before the payment transaction is executed, respectively before the payment with another payment services provider maintaining the Client`s accout has been initiated. By agreement between the Client (Payer) and TENEN PAYMENTS JSC, the payment transaction can be authorized / permitted, i.e., such consent of the Client may be given after the execution of the payment transaction, except for the payment initiation service with another payment services provider maintaining an account of the Client.
8.4. By accepting this Agreement, the Client expressly agrees that TENEN PAYMENTS JSC should provide information when executing a payment transaction specified in the payment order (including personal data of the Client) to persons directly related to the execution of such payment transaction – another payment services provider maintaining an account of the Client ( in case of providing payment initiation service and/or account information service with other payment services provider where the Client has opened a payment account) the payment service provider of the Recipient, the payment system operator used to execute the payment transaction, representatives of payment service providers, the payment initiation service provider and the Recipient himself.
8.5. The payment order may not be withdrawn once it has been received by the Issuer, except as described in this Agreement.
8.6. When the payment transaction is initiated by the Recipient or through the Recipient or through a payment initiation service provider, the Payer may not revoke the payment order after the payment order has been submitted for execution, the Payer has given consent to the payment initiation service provider to initiate a payment transaction or the Payer has given consent to the Recipient to execute the payment transaction.
8.7. The payment orders described in Article 7.3 of the Agreement may be withdrawn by the end of the business day of TENEN PAYMENTS JSC, preceding the day on which the payment is agreed;
8.8. When the payment transaction is initiated by the Recipient and when the exact amount of the transaction is not known at the moment when the Payer gives its consent to execute the money transaction, TENEN PAYMENTS JSC may block the funds on the Payer’s account only if the Payer gives its consent to block a certain amount. Upon receipt of information about the exact amount of the monetary transaction, TENEN PAYMENTS JSC immediately and not later than the moment of receipt of the payment order removes the blocking from the Payer’s account.
8.9. TENEN PAYMENTS JSC debits and credits funds to and from the Account, considering the Unique Identifier specified in the payment order – Account number in the Issuer’s System or IBAN account number. In case TENEN PAYMENTS JSC checks the payment, order and finds an obvious discrepancy between the Unique Identifier provided to the Client and the name and surname (name of the legal entity) of the owner (holder) of the account, TENEN PAYMENTS JSC has the right to refuse to execute such payment operation.
8.10. In case there is a need and/or requirement that is applied by institutions of another country, TENEN PAYMENTS JSC reserves the right to request additional and/or other necessary information (e.g. name and surname of the Recipient, name of the legal entity of the Recipient, code for payment), which information must be provided in order for the payment order to be duly executed.
- Prohibited activities
9.1. The Client agrees that he is not entitled:
(i) to violate the provisions of the Agreement, as well as the statutory regulations, applicable with regard to the use of the Services, including, but not only laws related to the prevention of money laundering and terrorist financing;
(ii) to violate the rules, which are owned by TENEN PAYMENTS JSC and third parties on trademarks, author’s rights, commercial secret, and other forms of intellectual property;
(iii) to provide false, misleading, or incorrect information to TENEN PAYMENTS JSC; Refuses to provide information or take other actions that are reasonably required by TENEN PAYMENTS JSC;
(iv) to provide false, misguiding, or incorrect information to TENEN PAYMENTS JSC and with regard to its relations towards TENEN PAYMENTS JSC to third parties;
(v) to transfer and/or receive money which have been illegally acquired, provided that the Client knows about that or ought to have known about that;
(vi) to use the services of TENEN PAYMENTS JSC in a way, which could cause losses, imply obligations or other negative legal consequences, or damages the business reputation of TENEN PAYMENTS JSC or of third parties;
(vii) to use the services of TENEN PAYMENTS JSC provided that the Client, its representative, end owner, the processed money transfer or the received money transfer meet the criteria, specified in the list with limitations for service providing by TENEN PAYMENTS JSC (the list with the limitation, applied by TENEN PAYMENTS JSC for service providing, is accessible on the website);
(viii) to distribute computer viruses or other malicious software and take other actions that may lead to a malfunction of the System, damage, or destruction of information, as well as perform other actions that may cause other damage to the System, equipment, or the information of TENEN PAYMENTS JSC;
(ix) to take any other targeted or intentional actions that may disrupt the provision of services by TENEN PAYMENTS JSC to the Client or third parties, or to interrupt or disrupt the operation of the System;
(x) to organize illegal gambling, illicit trading in stocks, debt instruments, commodities, currency (e.g. Forex), options, exchange traded funds (ETFs) and other financial instruments; to provide illegal trading, investment or other currency exchange services, Forex markets and other payment services providers; to trade illegally in tobacco products, alcohol, medicines, steroids, weapons, drugs and derivatives, pornographic products, unlicensed lottery games, illegal software and other items or products prohibited by law, as well as to carry out other activities prohibited by law; ( xi) to accept payments in unregulated and/or uncontrolled virtual currencies, as well as to buy, exchange or manage such in any way (the prohibition includes the execution or receipt of transfers from virtual currency exchange instruments);
(xii) without the prior written consent of TENEN PAYMENTS JSC to provide financial services and/or legal organization of trading in shares, debt instruments, raw materials, currency (e.g., Forex), options, exchange traded funds (ETFs) and other financial instruments; to provide trading, investment or other services for currency exchange, Forex markets and other electronic currency trading systems. In case the Client intends to provide financial services using the Account, he must have a valid license issued by a Member State of the European Union or a third country that has imposed equivalent or substantially similar requirements and is regulated by the competent authorities regarding compliance with these requirements;
(xiii) without prior written consent of TENEN PAYMENTS JSC to organize legal gambling, lotteries, other specially licensed activities, or those requiring a permit. In case the Client intends to provide the specified services using the Account, he must have a valid license issued by a Member State of the European Union and is regulated by the competent authorities regarding compliance with these requirements;
(xiv) to have more than one Account; to register an Account with a fictitious name or another person’s name without a power of attorney; to register an Account using anonymous telephone numbers or e-mail addresses provided by other persons or websites;
(xv) to provide services, prohibited by the law or in contradiction with the public order and moral;
(xvi) to identify himself (log in) in the System as anonymous Consumer (for example by means of public proxy servers);
(xvii) to allow to third parties to use services under the name of the Client.
9.2. The Client is responsible for all direct damages, fines and other monetary sanctions imposed on TENEN PAYMENTS JSC as a result of culpable non-fulfilment of the Client’s obligations under this Agreement, including, but not limited to – the Client’s obligations arising from item 9.1. above.
9.3. The Client is liable and is obliged to restore all and any losses, caused to TENEN PAYMENTS JSC, other clients of TENEN PAYMENTS JSC and third parties because of the use of the services of TENEN PAYMENTS JSC and the violation of the provisions of this Agreement from the part of the Client.
- Sending of notifications by the parties, communication, and consultations to the Clients
10.1. The Client confirms that he agrees to receive notifications, messages, etc. by TENEN PAYMENTS JSC by means of them being published on the Website of the System or by sending them by e-mail to the e-mail address specified by the Client during its registration in the System, or by sending them to a postal address specified by the Client during its registration in the System, or by sending an SMS message, if the Client has specified only a mobile phone number. When the Client is a Consumer, the notifications are provided on paper or other durable media to the address specified by the Consumer during registration or personally delivered by hand. When the Agreement has been concluded by means of remote communication tools, the preliminary information on Art. 60 of the Law as well as the related to the Agreement notifications and messages are provided to the Client on hard copy or another durable medium in the sense of Art. 1 item 8 of the Additional Provisions to the Law. The Client confirms that he agrees that any received in the above-mentioned ways messages should be considered as being duly sent. Provided that these messages do not regard any significant changes in the terms and conditions of the Agreement the Parties agree that all similar messages should be considered as received by the Client after a 24-hour period has expired after they have been published on the Internet Site of the System, after their sending to the Client’s e-mail or by SMS. The messages submitted outside the specified deadlines shall be considered at 8:00 a.m. (EET) on the following day.
10.2. If there are multiple parties on the Agreement (holders of a joint account or similar), TENEN PAYMENTS JSC is entitled to send notifications to any of the persons. The Recipient undertakes to transmit the received information to the other persons specified in the Agreement.
10.3. The Client shall be notified of changes in the provisions of the Agreement not less than two months before the date on which the changes are proposed to enter into force. The Parties agree that in their relationship it is assumed that the Client has received notification of changes and changes to the terms of the Agreement shall enter into force two months after sending notice to the Client by e-mail or otherwise specified by the Client during its registration (postal address or SMS message with a link to the respective website).Information on changes in the terms and conditions of the Agreement has been published additionally on the Internet page of the System.
10.4. The two – months period for notification shall not be implemented and notifications shall be sent in compliance with the provisions of Art. 10.1 provided that:
(i) the conditions of the Agreement have been amended as a result of a change in the mandatory legal requirements, including where these amendments are made on the bases of the reference interest or exchange rate that should be applied immediately;
(ii) the prices of services are decreased or some clauses concerning the Client have been modified on terms more favourable to the client;
(iii) providing of a new service or part of a service shall be initiated, which the Client could decide to use or not at its own discretion where the Client gives its explicit consent.
10.5. Minor amendments to the Agreement are stylistic and grammatical corrections, paraphrasing and moving a sentence, clause, or section of the Agreement in order to clarify the meaning; providing examples to members and similar amendments that do not limit or reduce the rights of the Client and do not increase its responsibility or worsen its position.
10.6. The Client undertakes to check regularly, at least once a day on working days, the e-mail specified by him/her, and the other means of notification specified by him in the Account, as well as the Internet site of the System in order to get acquainted in due time with the sent messages. amendments to the Agreement.
10.7. All notifications to the Parties shall be sent in English and/ or Bulgarian language as the language of communication is generally understood by the languge of acknowledgement and acceptance of this Agreement .
10.8. Provided that there are changes in the provided by the Client contact details (phone number, address of electronic mail and mail address), the Client is obliged to update immediately the information entered in the Account by means of which TENEN PAYMENTS JSC is able urgently to contact the Client or contact the representative of the Client. Provided that the Client fails to meet its obligations for update of the provided information in its Account, all consequences from non-receiving the sent by TENEN PAYMENTS JSC notifications are at Client’s account.
10.9. In order to ensure protection of the rights and interests of the Client when using the Account from possible illegal actions of third parties, the Client is obliged to immediately notify TENEN PAYMENTS JSC in writing in case of theft or loss of its / her identity document(s).
10.10. The Client may receive consultations related to all aspects of the System and implementation of the Agreement by sending questions to the e-mail address indicated on the website of TENEN PAYMENTS JSC, by calling the specified number for “Customer Service” or submitting the questions in the form provided in its Account. The messages and the questions of the Client directed on the occasion of this Agreement, should be sent to address of the electronic mail specified on the website of TENEN PAYMENTS JSC or to the mail address of TENEN PAYMENTS JSC specified in the Agreement.
10.11. TENEN PAYMENTS JSC notifies the Client in advance, according to the procedures in Art. 10.1 of the Agreement, about the known and possible technical problems in the System and systems or equipment owned by third parties, hired by TENEN PAYMENTS JSC for providing of services, which have influence on the providing of the services of TENEN PAYMENTS JSC.
10.12. TENEN PAYMENTS JSC could change the ways/methods for technical integration of the services, without any limitations and at any time. The announcement of all amendments, which require significant changes in the way of numbering the client’s accounts or require significant adaptation of the used application software for the Client’s payments, must be made at least 90 (ninety) days in advance. The necessary changes on the part of the Client are made at the expense of the Client.
10.13. The Parties undertake to notify each other immediately of any circumstances or events that are relevant to the implementation of the Agreement. The Client is obliged to provide documents certifying such circumstances (for example, changes in the name, surname, signature, address, telephone number and other contact details, personal documents or the persons entitled to manage the funds on the Account, initiating insolvency proceedings of the Client, etc.), regardless of whether tits information has already been reflected (provided for reflection) in public registers or not.
10.14. TENEN PAYMENTS JSC is entitled to require that all documents, issued or prepared abroad, should be translated, legalized, with apostille places, except in the cases when the law provides otherwise.
10.15. All costs on the conclusion, submittance, confirmation/verification and translation of documents provided to TENEN PAYMENTS JSC are at the account of the Client.
10.16. The Client has the right at any time to be informed with the entered into force amendments of the Agreement, its Appendices, and the prices on the website of TENEN PAYMENTS JSC.
- Amendments in the Agreement
11.1. TENEN PAYMENTS JSC is entitled unilaterally to enter into amendments and/or to supplement the provisions of the Agreement, as it shall follow the procedure specified in Art. 10 of the present Agreement.
11.2. The Client has no right to unilaterally change and/or amend the terms of the Agreement.
11.3. The Client is not entitled to accept or to refuse the amendments prior to the date on which it has been proposed for the amendments to enter into force, as he informs in advance (prior to the date, on which it has been proposed for the amendments to enter into force) TENEN PAYMENTS JSC about that. Provided that the Client fails to inform TENEN PAYMENTS JSC over its disagreement with the amendments until the proposed day of entry into force, it shall be considered, that the Client accepts the amendments in the Agreement and the amendments enter into force on the specified day for their entry into force. When the Client informs TENEN PAYMENTS JSC on the disagreement with the amendments in the Agreement, the Agreement shall be terminated in accordance with the procedure, foreseen in Art. 12.12 below, as the existing terms and conditions of the Agreement continue to be valid for the Client for the specified period of 30 (thirty) calendar days.
11.4. The Supplementary Provisions to this Agreement by which any additional products and services are stipulated or are supplemented, shall be amended in accordance with the procedure provided for in the relevant Supplementary Agreement.
11: 5. The Parties may, by separate written agreement, agree on additional terms not provided for in the Agreement or the Supplementary Provisions, or on terms different than those provided for in the Agreement or the Supplementary Provisions. Such provisions are an integral part of the Agreement. Upon request of the Client there shall be made a draft of an agreement by TENEN PAYMENTS JSC and it shall be sent by fax or email to the Client (the agreement could also be concluded under the form of a declaration). It is provided to the Client, who is a Consumer, on paper or another durable medium. Provided that the Client agrees with the provided to him draft, the Client has to sign the draft and to send a scanned copy of the document to TENEN PAYMENTS JSC via electronic mail. TENEN PAYMENTS JSC is entitled to require from the Client to send the agreement by mail with original signature of the Client. Such agreement enters into force after sending the signed agreement to TENEN PAYMENTS JSC.
- Discontinuation of service providing. Termination of Agreement (closing of Account)
12.1. TENEN PAYMENTS JSC at its sole discretion and with a view to a particular situation, as it gives advantage to the performance of the legislative acts, applicable to the activity of the Issuer and the Client’s interests, is entitled unilaterally and without any preliminary notification to impose one or more of the following measures:
12.1.1. to suspend the processing of one or more money transfers;
12.1.2. to suspend the providing of all or a part of the Services to the Client;
12.1.3. to limit the access of the Client to the Account;
12.1.4. to keep the money funds of the Client on the occasion of which a dispute has arisen;
12.1.5. to block the account (for example fully or partially to suspend the payment operations from the account);
12.1.6. to refuse service providing;
12.1.7. to return the blocked on the account of the Client funds to the main funds ordered.
12.2. The measures specified under item. 12.1.1-12.1.7 of the Agreement could be imposed only in the following extraordinary cases:
12.2.1. provided that the Client violates the main / essential provisions of the Agreement or in the presence of a real danger that the Client may violate the main / essential provisions of the Agreement;
12.2.2. provided that activities conducted by the Client on the use of the Account could contribute to damaging the business reputation of TENEN PAYMENTS JSC;
12.2.3. provided that the Client fails to conduct the necessary procedures on identification or fails to provide information required by TENEN PAYMENTS JSC or when the Client provides information which is not in compliance with the requirements stipulated in the legislation or TENEN PAYMENTS JSC or for TENEN PAYMENTS JSC there occur doubts with regard to the correctness and authenticity of the submitted documents, also when TENEN PAYMENTS JSC has reasonable grounds to suspect that the Client fails to meet the requirements, specified in item. 10 above;
12.2.4. provided that in case of continuation of service providing to the Client and the activity of the Client the interests of third parties could be reasonably harmed;
12.2.5. provided that as a result of objective grounded reasons related to the security of the money funds on the account there is doubt for not permitted or illegal use of the money on the account;
12.2.6. provided that TENEN PAYMENTS JSC finds, that the instruments for the identity confirmation have been disclosed to or could be used by third parties. Provided that TENEN PAYMENTS JSC has reasonable doubts that the money on the account could be used by third parties in contradiction with the law or that the account could be used for illegal activities;
12.2.7 provided that TENEN PAYMENTS JSC receives confirmed information about death of the Client natural person;
12.2.8 in cases foreseen in the applicable legislation;
12.2.9 in other cases foreseen in the Agreement or the additional agreements to it.
12.3. The measures specified in item. 12.1.7 of the Agreement could be applied to the Client only if TENEN PAYMENTS JSC has reasonable doubts that the Client conducts illegal activities. In this case, initially the funds of the original payers are seized / blocked on the Client’s account if the Client does not perform the requested actions (conducting an additional identification procedure, sending the requested documents) or if the Client does not provide a reasonable explanation of the case within the time limit specified, the blocked funds are returned to the original ordering parties.
12.4. TENEN PAYMENTS JSC informs the Client about the measures specified in item 12.1 immediately (within one hour) as well as about the possibilities for return of money funds to the Client – up to 2 (two) business days from the moment of discontinuation of the service providing, except in the cases when the providing of such information could compromise the measures for safety or when this has been prohibited by the Law.
12.5. Provided that TENEN PAYMENTS JSC has reasonable doubts that the Client commits or that via the Client’s account there has been committed money laundering, financing of terrorist activities organizations or another criminal activity, TENEN PAYMENTS JSC is entitled to fully or partially suspend the provision of Services for a period of 30 (thirty) days with the right to prolong this for an unlimited number of times until the time when the reasonable doubts are fully rejected or have been proven.
12.6. Provided that TENEN PAYMENTS JSC has reasonable doubts that someone has initiated unauthorised access (hacker’s attack) to the Account or to the Client’s Account, it has the right to limit the providing of any or all services to the Client without prior notification. When the providing of services has been limited as a result of any of the specified grounds, TENEN PAYMENTS JSC informs the Client and provides information on the activities, which the Client should undertake in order to restore the providing of the services to the Client.
12.7 TENEN PAYMENTS JSC discontinues the entire or partial blocking of the Account, when the reasons for blocking the Account are not more existent.
12.8. The Account is blocked upon request of the Client if the Client submits the corresponding request to TENEN PAYMENTS JSC and informs the latter that the money on the account is used or could have been used by any other unlawful way. TENEN PAYMENTS JSC is entitled to require from the Client to confirm in written the orally requested blocking of the Account or in another, acceptable for TENEN PAYMENTS JSC way. Provided that the Account has been blocked upon incentive of the Client, TENEN PAYMENTS JSC has the right to cancel the blocking only after receipt of written request by the Client or to apply any other procedures for Client’s identification in accordance with the provisions stipulated in this Agreement.
12.9. TENEN PAYMENTS JSC is not liable for losses or missed profits of the Client due to restriction of the provision of Services, blocking of the Account or other actions, if they are undertaken in accordance with the procedure specified in the Agreement or its Annexes sand are resulting from circumstances and conditions described in the said documents.
12.10. Following legally defined procedures, TENEN PAYMENTS JSC has the right to keep money in the client’s account for a period of up to 10 (ten) working days or for a longer period specified in the law, the Agreement, or the Additional Agreements to it.
12.11. The Customer, who is a Consumer, has the right within 14 days after the conclusion of the Agreement to withdraw from the Agreement and close its Account.
12.12. The Client is entitled to terminate the Agreement unilaterally without appealing to a court, as he sends to TENEN PAYMENTS JSC a written notification on termination, prior to 30 (thirty) calendar days of the termination date. If the Client terminates the Agreement, the issued electronic money shall be returned to the Client in the manner he has chosen (specified in the Agreement), in accordance with the money transfer limits specified in this Agreement.
12.13. TENEN PAYMENTS JSC has the right to terminate the Agreement and its Supplementary Provisions unilaterally, as well as to refuse to provide services without stating a reason, by notifying the Client two monts in advance in the ways provided in item 10 of tits Agreement. TENEN PAYMENTS JSC also has the right to unilaterally terminate the Agreement and its Supplementary Provisions and to refuse to provide services for the reasons specified in item 12.2 of this Agreement, by notifying the Client 30 (thirty) days in advance in the ways provided in item 10 of this Agreement. The notice is provided by the Issuer to the Client on paper or another durable medium.
12.14. In case of termination of the Agreement, TENEN PAYMENTS JSC deducts from the Client’s account the due amounts for the services provided to the Client by TENEN PAYMENTS JSC, as well as fines, penalties, losses, and other amounts payable to third parties or the state that TENEN PAYMENTS JSC has borne or paid because of the fault of the Client. If the amount of funds on the Client’s Account(s) is insufficient to cover all amounts due under this item, the Client undertakes to transfer the specified amounts to the account of TENEN PAYMENTS JSC within 3 (three) working days. In case TENEN PAYMENTS JSC manages to recover part of the amounts paid to third parties, TENEN PAYMENTS JSC is obliged to immediately return the refunded amounts to the Client.
12.15. The termination of this Agreement does not release the Client from the obligation to properly fulfil all obligations to TENEN PAYMENTS JSC, which have arisen and were applicable to the Client until the moment of termination.
12.16. After the termination of the Agreement between TENEN PAYMENTS JSC and the Client, the Client must choose a way to redeem its electronic money from the Client’s Account. If the Customer’s identification level does not correspond to the level required to redeem all electronic money, the Customer must select another appropriate identification level and perform the required actions to change the identification level. The Client agrees to undertake the necessary actions for redemption of the electronic money and declares its understanding that in this way TENEN PAYMENTS JSC aims to limit the risks of fraud and complies with anti-money laundering legislation and other Legal requirements.
12.17. In the cases when, after the termination of the Agreement between TENEN PAYMENTS JSC and the Client, the Client does not choose a way to redeem the electronic money owned by him and/or does not fulfil the procedure for additional identification to increase the limits, TENEN PAYMENTS JSC can redeem the electronic money of the Client in a manner that is applicable at the time of redemption.
- Confidentiality and information protection
13.1. The Parties undertake to keep confidential the technical and commercial information of the other Party (except for publicly available information which has been disclosed to them during the implementation of this Agreement) and not to provide such information to third parties without the written consent of the other Party or its legal representatives.
13.2. The Client gives its irrevocable consent to TENEN PAYMENTS JSC to administer and manage the personal data of the Client and is aware that the personal data is processed in order to provide the Client with services and comply with other obligations under this Agreement. The Parties shall ensure the protection of personal data obtained during / during the implementation of this Agreement. Personal data shall be used to the extent necessary to fulfil the obligations under this Agreement. The said personal data may not be disclosed to third parties without the consent of the subject / owner of such data, except as provided in the legislation or this Agreement.
13.3. The issues of data retention and protection are also regulated by the Appendix to this Agreement, namely the “Privacy Statement”, which the Client declares to has read and undertakes to comply with.
13.4. The Client undertakes to keep confidential and not disclose to third parties any passwords created by him or provided to him under this Agreement or other personalized means of protection, and not to allow other persons to use services on behalf of the Client. If the Client has not fulfilled its obligation and/or has been able, but has not prevented the violation of its obligations under tits Article, as well as if he has committed such actions culpably or occurred due to its own negligence, the Client shall fully bear the losses and unreservedly undertakes to reimburse all losses suffered by other persons, if such have been suffered as a result of the actions of the Client specified here or as a result of its failure to perform the necessary actions.
13.5. If the Client loses the password for its Profile or other passwords or it (they) are disclosed through no fault of the Client or TENEN PAYMENTS JSC, or if a real threat has occurred or may occur for the Client’s Profile, the Client undertakes to change the passwords immediately. or, if it is unable to do so, to notify TENEN PAYMENTS JSC immediately (no later than one calendar day) by means of the methods of notification specified in this Agreement. TENEN PAYMENTS JSC is not responsible for the consequences arising from failure to send a notification.
13.6. After TENEN PAYMENTS JSC receives the notification by the Client, which has been specified under Art. 13.5, TENEN PAYMENTS JSC immediately blocks the access to the Client’s Account, as well as the providing of Services, until the Client submits or creates a new password.
13.7. With the acceptance of the present Agreement the Client confirms that it has been notified about the circumstance that the electronic mail related to the Account and other tools (for example mobile phone number) which upon choice of the Client are related to its Account, are used as instruments for communication or identification means of the Client, therefore these instruments and login credentials shall be protected by the Client. The Client is solely responsible for the safety of their email passwords and all the other instruments used by them, as well as their login passwords. The passwords are confidential information, and the Client is responsible for their disclosure and for all transactions executed after using the Client`s password for access to the corresponding Account. The Issuer recommends that the passwords should be memorized and not written or entered in any devices where they can be seen by other persons 13.8. TENEN PAYMENTS JSC is entitled to provide the entire collected important information about the Client and its operation and activities to other law enforcement authorities, state authorities (for example the National Revenue Agency, the National Social Security Institute, State Agency on National Security etc., determined in the applicable legislation), as well as to financial institutions, if such an obligation has been set by the legislation and has the purpose to establish whether this Agreement and the applicable legislation have not been and shall not be violated.
13.9. The Client empowers TENEN PAYMENTS JSC to undertake the necessary measures, including but not only to send to third parties claims and requests, directly or by means of third parties, which are necessary for establishment and confirmation of the identity of the Customer and the correctness of another information (for example Commercial Registry, systems for checking the validity of personal documents etc.), submitted by the Client.
13.10. TENEN PAYMENTS JSC in all cases operates only as a service provider for the Client and does not provide or offer any services to the Recipient, until it has become a client of TENEN PAYMENTS JSC.
13.11. TENEN PAYMENTS JSC is entitled to record the phone conversations with the Client. The Parties expressly agree that telephone conversations and messages sent by mail, e-mail or other telecommunication means may be used as valid evidence in resolving disputes between the Parties. With the present Agreement the Client confirms that he understands and agrees that TENEN PAYMENTS JSC could record the phone conversations with the Client or its representatives. The Client is also entitled to record and keep records from phone communication and other correspondence.
13.12. With the consent of the Client, the Client’s data may also be transferred to the institutions for services for initiating payments or institutions for servicing account information. TENEN PAYMENTS JSC may refuse to grant access to the Client’s account to a provider of information services for accounts or to a provider of a service on initiation of payments on grounds of reasonable and well-grounded reasons related to unauthorized or incorrect access to the account acquired by the provider of information services for accounts or to a provider of a service on initiation of payments, including unauthorized or incorrect initiation of a payment transaction. In such cases TENEN PAYMENTS JSC informs the Client about the refusal to grant access to the Account and specifies the reasons for such an action. This information should be provided by the Client prior to the refusal to grant access to the Account, if possible, and not later than the refusal to grant access except if the providing of such information could weaken the measures for security or has been prohibited by the legislation.
- Liability of the Parties
14.1. Each Party is liable for all direct damages which the other Party has suffered because of violation of the Agreement by the guilty party. The guilty Party is obliged to compensate the direct damages caused by the correct Party. In all cases the liability of TENEN PAYMENTS JSC on grounds of the Agreement is limited in accordance with the following provisions:
14.1.1. The Issuer is responsible only for direct damages resulted from direct and significant violation of the Agreement committed by TENEN PAYMENTS JSC or by its subcontractor and only for such damages, which could have been reasonably expected by TENEN PAYMENTS JSC with regard to the non-performance of obligations resulting from the Agreement;
14.1.2 the amount of the compensation for damages caused by TENEN PAYMENTS JSC as a result of non-performance of the obligations on the Agreement cannot be greater than the average value of the commission fees for the last 3 (three) months, which have been paid by the Client of TENEN PAYMENTS JSC for the services provided. This limitation is applicable for the total amount of all violations for the particular month. If the average value of 3 (three) months cannot be calculated, the compensation may not exceed EUR 50 (fifty). The Issuer is liable for the actions of its employees and subcontractors;
14.1.3. In all cases, TENEN PAYMENTS JSC is not liable for unreceived profit and income from the Client, damage to the reputation of the Client and losses arising therefrom, as well as for loss or damage to the business of the Client, as well as for indirect damages.
14.2. TENEN PAYMENTS JSC guarantees continuous operation of the System, except in case of force majeure factors, which are out of control of TENEN PAYMENTS JSC (such as accidents or other similar events concerning the continuity of the related with payments services, provided by TENEN PAYMENTS JSC) but it shall put all efforts to provide as smooth functioning of the System as possible in accordance with its Plan for Emergency Recovery.
14.3. The System could be out of service because of reasons for which TENEN PAYMENTS JSC is responsible and TENEN PAYMENTS JSC does not have to pay any compensations, provided that the System has been accessible for more than 99% (ninety-nine percent) of the time, calculated on the average value for a period of at least 3 (three) months.
14.4. The cases in which TENEN PAYMENTS JSC limits the access to the System temporarily for a period not longer than 24 (twenty-four) hours because of repair works on the System, development of the System or any similar cases, and when TENEN PAYMENTS JSC has informed the Client about such cases at least 2 (two) calendar days in advance, are not considered as operative violations/disturbances in the System.
14.5. TENEN PAYMENTS JSC shall not be liable for:
14.5.1. transfer of funds from the account of TENEN PAYMENTS JSC and for other payment operations with funds, stored in the Client’s account if the Client has not guaranteed the security of its passwords and identification tools and this has resulted in disclosure of these passwords, as well as for any illegal activities and operations of third parties, committed by the use of false/ forged or and/or illegal documents or illegally received information;
14.5.2. for faults and delayed or missed transactions executed by banks, systems for charging and other third parties;
14.5.3. for sequences resulting from breaches of any of the obligations of TENEN PAYMENTS JSC because of reasons, caused by a third party which is out of the control of TENEN PAYMENTS JSC;
14.5.4. for consequences, resulted after TENEN PAYMENTS JSC lawfully has discontinued the Agreement, has cancelled the Account of the Client, or has limited the access to it, also after a well-grounded limitation or termination of the providing of part of the services;
14.5.5. for products and services purchased by using the Account and also for non-performance on such transactions by the other party, which receives payments from the Account, without observing the conditions of the Agreement;
14.5.6. for their actions, which have led to non-fulfilment of obligations and/or damages, if the actions for non-fulfilment of the obligations or causing the damages that have been caused by TENEN PAYMENTS JSC in fulfilment of other obligations, arising from the legislation.
14.6. The Client guarantees that all its actions related to the performance of the Agreement shall follow the provisions of the applicable legislation.
14.7. The Client bears full responsibility for the correctness of information, orders, and documents which he submits to TENEN PAYMENTS JSC.
14.8. When TENEN PAYMENTS JSC gets to know about a non-authorized payment transaction, TENEN PAYMENTS JSC shall return the amount of the non-authorized payment transaction to the Client and, when possible, shall restore the Balance on the Account, from which the amount has been withdrawn, to the level prior to the execution of the non-authorized transaction, with the exception of the cases when TENEN PAYMENTS JSC has reasons to suspect illegal activity and reports these reasons to the supervisory body.
14.9. If the Client denies the confirmation (authorization) of an executed payment transaction / transaction that has been confirmed, or claims that a payment transaction has been executed incorrectly, TENEN PAYMENTS JSC has the obligation to prove that the authenticity of the payment transaction has been confirmed, the transaction has been registered correctly and reflected in the accounts, and that it has not been affected by technical or other problems.
14.10. The Client undertakes to check the information about the executed payment transactions in the Account at least once a month and notifies TENEN PAYMENTS JSC of unauthorized or incorrectly executed payment transactions, as well as of any other errors, inconsistencies, or inaccuracies in the statement. The notification must be submitted without unreasonable delay after the Client has learned about the unauthorized payment transaction or the execution of an incorrect payment transaction. The Consumer is obliged to inform in writing TENEN PAYMENTS JSC about any non-authorized or incorrectly executed payment transaction in foreign currency of a Member Country to a country outside the EU not later than 13 (thirteen) months after the day of withdrawal of the amount from the payment account. Provided that the Client fails to provide the specified notifications in due time, it is considered that the Client has agreed unconditionally with the payment transactions, which have been executed on the payment account. The Client should provide TENEN PAYMENTS JSC with every piece of information on the illegal access to the Account or other illegal actions, related with the Account, and shall undertake all reasonable measures specified by TENEN PAYMENTS JSC in order to support the investigation of the illegal actions.
14.11. Each Party is exempted from liability for non-performance of the provisions of the Agreement, provided that this party is able to prove that the non-performance is due to force majeure circumstances, the occurrence of which has been proven in accordance with the procedure set in the legislation. The Client is obliged in written to inform TENEN PAYMENTS JSC about the force majeure circumstances occurred, which obstruct the performance of the Agreement, within a time limit of 10 (ten) calendar days after the day of occurrence of such circumstances. TENEN PAYMENTS JSC shall inform the Client on the force majeure circumstances by means of an email to the specified by the Client address of the electronic mail or on the Website/s of the System.
- Settlement of disputes between Client and TENEN PAYMENTS JSC, procedure for claim filling
15.1. TENEN PAYMENTS JSC strives at solving all disputes with the Client on mutual agreement, in due time and under conditions, mutually acceptable for the Parties. In case of a dispute the Clients are encouraged to contact TENEN PAYMENTS JSC directly. The disputes are solved by means of negotiations.
15.2. The Client may submit any complaint or complaint regarding payment services provided by TENEN PAYMENTS JSC by sending an e-mail, by calling the number of the “Customer Service” department or by sending a notification through its Account.
15.3. The person who submits the claim should specify the particular circumstances and documents in support of the statements, contained in the claim. Provided that the complaints of the Client are based on documents which are not available for TENEN PAYMENTS JSC, the Client should also submit these documents or copies of them, when filing the claim.
15.4. TENEN PAYMENTS JSC shall examine the written claim of the Client or the expressed complaints of the Client within 15 (fifteen) business days considered from the day of receiving the claim and shall provide the Client with a detailed, well-grounded response based on documents. In certain exceptional cases when TENEN PAYMENTS JSC is not able to provide a response within 15 /fifteen/ business days because of reasons being outside the scope of control of the company, TENEN PAYMENTS JSC provides the Client with a response which is not final, as it states the reason for delay and the deadline for providing a final response. The deadline for providing a final response could not be greater than 35 (thirty-five) business days after receipt of claim. The response shall be provided to the Client by means of the methods specified under Art. 10.1 of the Agreement, except for the case when the Client has requested that the response of its claim/objection should be provided by any other methods.
15.5. Except in cases where they are due to third parties, the client does not owe fees to TENEN PAYMENTS JSC for reviewing the submitted complaints, grievances, objections, and disputed transactions.
15.6. When TENEN PAYMENTS JSC fails to express an opinion within the time limits set under Art. 15.4 and/or when the Client has not been satisfied by the decision of TENEN PAYMENTS JSC the Client is entitled to address the Conciliation Commission for payment disputes with the Commission for consumer protection at the following address: Republic of Bulgaria, city of Sofia, 1, Vrabcha Str., floor 4, tel. +359 2 9330565, E-mail: email@example.com is competent to examine and take a decision in an out-of-court procedure regarding the dispute and which decisions are mandatory for the parties.
15.7. Detailed procedure for filing and processing complaints (complaints) of Clients is specified in the Rules for filing and reviewing complaints (complaints) of Clients.
15.8. The relevant provisions of the current Bulgarian legislation and the applicable legislation of the European Union shall apply to the issues not settled in this Agreement.
- Final provisions
16.1. Each Party confirms that it has all permissions and licenses, required in accordance with the applicable legislation, which are necessary for the performance of the present Agreement.
16.2. The Parties are liable in front of the country and other persons for the performance of all tax obligations, each Party for itself. TENEN PAYMENTS JSC is not liable for the performance of the tax obligations of the Client or for calculation and transfer of taxes, applicable for the Client.
16.3. If any provision of this Agreement is held to be invalid, the remaining provisions of this Agreement shall remain in force and continue to apply.
16.4. The Agreement enters into force as it has been foreseen in Art. 2.4 of the Agreement. The Client could save the text of the Agreement during its registration in the system.
16.5. The present Agreement is provided in the System in several languages. The Agreement is applied for the Client in the language, in which it has been provided to the Client during its registration in the System.
16.6. Links to websites, specified in the Agreement and the additional agreements to it, regulating the providing of separate services (if any) are an integral part of the present Agreement and are applicable for the Client at the time, when he starts using the corresponding service.