Quick Funds Terms and Conditions

1. Introduction

1.1. Welcome to Quick Funds Service (“Service”) by SeaMoney Capital Malaysia Sdn. Bhd. Please read the following Terms and Conditions carefully before using, accepting and/or activating the Service in your account on the Shopee Mobile Malaysia Sdn. Bhd. (“Shopee”) platform ("Account"), so that you are aware of your legal rights and obligations with respect to SeaMoney Capital Malaysia Sdn. Bhd., its affiliates and subsidiaries (individually and collectively, “SeaMoney”, "Company", "we", "us" or "our").

1.2. BY USING THE SERVICE OR OPENING AN ACCOUNT, YOU SIGNIFY YOUR IRREVOCABLE ACCEPTANCE OF THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS, PLEASE DO NOT USE THE SERVICE. YOU ARE NOT ALLOWED TO USE THIS SERVICE IF YOU ARE BELOW 18 YEARS OLD OR THE RELEVANT "AGE OF MAJORITY" WHERE YOU LIVE, YOU MUST GET PERMISSION FROM A PARENT OR LEGAL GUARDIAN TO OPEN AN ACCOUNT OR USE THE SERVICE AND THAT PARENT OR LEGAL GUARDIAN MUST AGREE TO THESE TERMS AND CONDITIONS. IF YOU DO NOT KNOW WHETHER YOU HAVE REACHED THE "AGE OF MAJORITY" WHERE YOU LIVE, OR DO NOT UNDERSTAND THIS CLAUSE 1.2, PLEASE DO NOT USE OUR SERVICE OR CREATE AN ACCOUNT.

1.3. We reserve the right to change, modify, suspend or discontinue all or any part of the Service at any time or upon notice as required by local laws. Your continued use of the Service or your registration of an Account, shall be deemed as an irrevocable acceptance of these Terms and Conditions and any such revisions. We reserve the right at all times, at our absolute discretion, to change, modify, suspend or discontinue any portion of the Service, including payment methods, temporarily or permanently, without notice to you or giving any reason. We may release certain features of the Service in a beta version, which may not work correctly or in the same way the final version may work, and we shall not be held liable in such instances. We may also impose limits on certain features or restrict your access to parts of, or the entire, Service in our absolute discretion and without notice or liability. We reserve the right to refuse to provide you access to the Service or to allow you to open an Account for any reason.

1.4. The Service is offered to you by us through the Shopee platform (“Site”). The use of this Service does not constitute a loan, a credit provided to you by SeaMoney through the Site, credit card or charge card provided to you by us or Shopee. These Terms and Conditions constitute the legal agreement set forth between You as a seller and the Company. 

2. Acceptance of Service by Third Party Provider

2.1. As a Third Party Provider on the Site, you hereby agree:

(a) to sell and/or assign up to a prescribed percentage of the outstanding amounts owed by the buyers to you under the Purchase Agreements to SeaMoney (“Advance Amount”), and you will receive the Advance Amount under such Purchase Agreements in accordance with these Terms and Conditions; and

(b) that SeaMoney and/or any other of its affiliates may administer and act as your agent to collect the outstanding amounts owed under the Purchase Agreements. 

2.2. For the purposes of this clause:

(a) “Third Party Provider” means a user (generally known as a seller on the Site) providing goods and/or services for purchase to another user on the Site (generally known as a buyer on the Site); and 

(b) “Purchase Agreement” means an agreement between a Third Party Provider and a buyer on the Site (including a seller on the Site) to provide and sell goods and/or services on the Site.

3. Use of the Service

3.1. We may, at our absolute discretion, grant access to the Service to you on a whitelisting basis. 

3.2. We may, at our absolute discretion, adjust the Advance Amount paid to you based on your available credit limit for the Service.  

3.3. You are permitted to discontinue or terminate the Service by deactivating the Service in your Account. Upon the discontinuation or termination of the Service, all outstanding amounts owed by you for using the Service shall become payable in accordance with Clause 5.

4. Activation of the Service

4.1. If you are using an individual seller Account, you will be asked to provide your personal information such as name, date of birth, identification card number and snapshots of the front and back of your identification card for us to assess your eligibility for the Service. If you are using a corporate seller Account, you will be asked to provide the sole proprietor’s, director’s or partner’s (as the case may be) personal information such as name, date of birth, identification card number and snapshots of the front and back of the identification card. 

4.2. You understand and agree that your personal information will be used by SeaMoney or any of its appointed third parties for processing your application for the Service and all its related products and/or services risk assessment and verification purposes.

4.3. By submitting your information to us, you hereby consent and authorize us to obtain, disclose and verify any information about you, which we may require in connection with your application for the Service and any of its products and/or services, with any third party, such as authorized credit agencies, reference agencies and debt collection agencies.

4.4. Such consent and authorization herein will extend to any information obtained from any of the Account(s) presently maintained for you, any new application for any form of services rendered or products provided by us, such as historical financial or credit records, data or information whether or not provided personally or by any other sources relating to you which was collected, received, captured, compiled, secured and/or obtained by us through or by whatever means, methods or forms.

4.5. If you have an existing account with us for other services such as SpayLater or SLoan, you would not be required to provide the personal information set out in Clause 4.1 to activate the Service. 

4.6. We may, from time to time, require you to submit any additional information to us and/or update the information that was previously provided, as part of our ongoing monitoring of your eligibility for the continued use of the Service.

5. Payment 

5.1. All payments due pursuant to the provision of the Service for each Purchase Agreement shall be payable by you on: (a) the completion date of the relevant Purchase Agreement (i.e., the order is delivered and completed); (b) the termination date of the relevant Purchase Agreement (for whatever reason including termination pursuant to a refund or return of the goods and/or service); (c) the discontinuation or termination date of the Service; or (d) any other dates as advised by SeaMoney from time to time (“Payment Date”). 

5.2. SeaMoney shall:

(a) on the completion date of the relevant Purchase Agreement, deduct the aggregate amount equivalent to the Advance Amount, the Discount Charge (as defined below) and/or any other charges for the Service payable by you to SeaMoney from the amounts received from the buyer under the Purchase Agreement, before remitting the balance to your Seller Balance on the Site;

(b) on such other date as advised by SeaMoney, deduct the aggregate amount equivalent to the Advance Amount, the Discount Charge (as defined below) and/or any other charges for the Service payable by you to SeaMoney from the amounts received from the buyer under the Purchase Agreement before deducting the remaining amount from your Seller Balance on the Site;

(c) on the termination date of the Purchase Agreement for whatever reason, deduct the aggregate amount equivalent to the Advance Amount, the Discount Charge (as defined below) and/or any other charges for the Service payable by you to SeaMoney from your Seller Balance on the Site; or

(d) on the discontinuation or termination date of the Service, either (i) deduct the aggregate amount equivalent to the Advance Amount, the Discount Charge (as defined below) and/or any other charges for the Service payable by you to SeaMoney from the amounts received from the buyer under the Purchase Agreement, before remitting the balance to your Seller Balance on the Site; or (ii) deduct the aggregate amount equivalent to the Advance Amount, the Discount Charge (as defined below) and/or any other charges for the Service payable by you to SeaMoney from your Seller Balance on the Site. 

5.3. Notwithstanding any other provisions to the contrary in these Terms and Conditions, SeaMoney shall, at all times, reserve the right to deduct any and all outstanding amounts owed by you from your Seller Balance on the Site until the outstanding amounts are fully settled.

5.4. You agree to be bound by the terms of payment and any other terms and conditions as may be advised by SeaMoney from time to time. 

5.5. For the purposes of this clause, “Seller Balance” means the seller’s wallet on the Site which is used for storing funds the seller receives from sales proceeds. 

6. Discount Charge and Other Charges 

6.1. You agree that we may charge you a fee for the provision of the Service for each Purchase Agreement (“Discount Charge”). The Discount Charge is the amount equivalent to a prescribed percentage of the Advance Amount charged on a daily basis starting from the date the Advance Amount is disbursed to you until the completion date of the Purchase Agreement or the date the Advance Amount is fully settled (both dates inclusive). If the completion or settlement occurs after a prescribed time on any day, the completion or settlement shall be deemed to have occured on the following day. In such circumstances, the calculation of the Discount Charge shall be adjusted to reflect that the completion or settlement occurred on the following day. 

6.2. We shall, at all times, reserve the right to revise the Discount Charge and/or impose any other additional charges from time to time.

6.3. Subject to our absolute discretion, we may offer specific promotions for the use of the Service and determine whether you are eligible for such promotions.

7. Recovery of Outstanding Sum

7.1. You acknowledge and agree that SeaMoney has the right to freeze your Account if you fail to pay the outstanding amounts owed for the provision of the Service (including the Advance Amount) by the relevant Payment Date.

7.2. In the event of delay or failure to settle the outstanding amounts owed by you by the relevant Payment Date, you acknowledge and agree that SeaMoney has the right to collect the outstanding amounts owed from you, either through a third party and/or the relevant authorities to the extent as permitted by applicable law.

8. Rights to Terminate the Service

8.1. SeaMoney shall terminate the Service at any time if there is a breach of any of these Terms and Conditions or if it is determined by SeaMoney at its absolute discretion that you do not meet SeaMoney’s eligibility requirements for the continued use of the Service. Upon the termination of the Service, all outstanding amounts owed by you for using the Service shall become payable in accordance with Clause 5. 

8.2. SeaMoney shall suspend the Service for an indefinite period of time if SeaMoney is aware or has reason to believe that:

(a) any document given by you is forged, inaccurate or untrue;

(b) there are any misrepresentations by you in your application for the Service; or

(c) you behave in a suspicious or fraudulent manner. 

9. Disclaimers 
 
9.1. THE SERVICE IS PROVIDED "AS IS" AND WITHOUT ANY WARRANTIES, CLAIMS OR REPRESENTATIONS MADE BY SEAMONEY OF ANY KIND EITHER EXPRESSED, IMPLIED OR STATUTORY WITH RESPECT TO THE SERVICE, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF QUALITY, PERFORMANCE, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, NOR ARE THERE ANY WARRANTIES CREATED BY COURSE OF DEALING, COURSE OF PERFORMANCE OR TRADE USAGE. WITHOUT LIMITING THE FOREGOING AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, SHOPEE DOES NOT WARRANT THAT THE SERVICE, THIS SITE OR THE FUNCTIONS CONTAINED THEREIN WILL BE AVAILABLE, ACCESSIBLE, UNINTERRUPTED, TIMELY, SECURE, ACCURATE, COMPLETE OR ERROR-FREE, THAT DEFECTS, IF ANY, WILL BE CORRECTED, OR THAT THIS SITE AND/OR THE SERVER THAT MAKES THE SAME AVAILABLE ARE FREE OF VIRUSES, CLOCKS, TIMERS, COUNTERS, WORMS, SOFTWARE LOCKS, DROP DEAD DEVICES, TROJAN-HORSES, ROUTINGS, TRAP DOORS, TIME BOMBS OR ANY OTHER HARMFUL CODES, INSTRUCTIONS, PROGRAMS OR COMPONENTS.

9.2. YOU ACKNOWLEDGE THAT THE ENTIRE RISK ARISING OUT OF THE USE OR PERFORMANCE OF THE SITE AND/OR THE SERVICE REMAINS WITH YOU TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW.

9.3. SEAMONEY HAS NO CONTROL OVER AND, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, DOES NOT GUARANTEE OR ACCEPT ANY RESPONSIBILITY FOR: (A) THE FITNESS FOR PURPOSE, EXISTENCE, QUALITY, SAFETY OR LEGALITY OF ITEMS AVAILABLE VIA THE SERVICE OR ANY GOODS/SERVICES PURCHASED ON THE SITE; OR (B) THE ABILITY OF SELLERS TO SELL ITEMS OR OF BUYERS TO PAY FOR ITEMS. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE TO RESOLVE ANY DISPUTE BETWEEN YOU AND ANY BUYERS AND RELEASE SHOPEE, SEAMONEY AND ITS AFFILIATES FROM ANY AND ALL CLAIMS, DEMANDS AND DAMAGES ARISING OUT OF OR IN CONNECTION WITH ANY SUCH DISPUTE.

10. Exclusions and Limitations of Liability 

10.1. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL SEAMONEY BE LIABLE WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING, WITHOUT LIMITATION, NEGLIGENCE (WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY), OR OTHER CAUSE OF ACTION AT LAW, IN EQUITY, BY STATUTE OR OTHERWISE, FOR ANY:
 
(A) LOSS OF USE; 
(B) LOSS OF PROFITS;
(C) LOSS OF REVENUES; 
(D) LOSS OF DATA;
(E) LOSS OF GOODWILL; 
(F) FAILURE TO REALISE ANTICIPATED SAVINGS, IN EACH CASE WHETHER DIRECT OR INDIRECT; AND/OR
(G) INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH THE USE OR INABILITY TO USE THIS SITE OR THE SERVICE, INCLUDING, WITHOUT LIMITATION, ANY DAMAGES RESULTING THEREFROM, EVEN IF SEAMONEY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
 
10.2. YOU ACKNOWLEDGE AND AGREE THAT YOUR ONLY RIGHT WITH RESPECT TO ANY PROBLEMS OR DISSATISFACTION WITH THE SERVICE IS TO REQUEST FOR TERMINATION OF YOUR ACCOUNT AND/OR DISCONTINUE ANY USE OF THE SERVICE.
 
10.3. IF, NOTWITHSTANDING THE PREVIOUS CLAUSES, SEAMONEY IS FOUND BY A COURT OF COMPETENT JURISDICTION TO BE LIABLE (INCLUDING FOR GROSS NEGLIGENCE), THEN, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, ITS LIABILITY TO YOU OR TO ANY THIRD PARTY IS LIMITED TO THE LESSER OF: (A) ANY AMOUNTS DUE AND PAYABLE BY YOU PURSUANT TO YOUR ACCOUNT RELATED TO THE PARTICULAR CLAIM; AND (B) SG $100 (ONE HUNDRED SINGAPORE DOLLARS).

10.4. NOTHING IN THESE TERMS AND CONDITIONS SHALL LIMIT OR EXCLUDE ANY LIABILITY FOR DEATH OR PERSONAL INJURY CAUSED BY SHOPEE’S AND/OR SEAMONEY’S NEGLIGENCE, FOR FRAUD OR FOR ANY OTHER LIABILITY THAT CANNOT BE LAWFULLY LIMITED AND/OR EXCLUDED.

11. Representations and Warranties 

11.1. You represent and warrant that:
 
(a) you possess the legal capacity (and in the case of a minor, valid parent or legal guardian consent), right and ability to enter into these Terms and Conditions and to comply with its terms; and

(b) you will use the Service for lawful purposes only and in accordance with these Terms and Conditions and all applicable laws, rules, codes, directives, guidelines, policies and regulations.

12. Fraudulent or Suspicious Activity

12.1. If SeaMoney, in its absolute discretion, believes that you may have engaged in any potentially fraudulent or suspicious activity and/or transactions, we may take various actions to protect SeaMoney, other buyers or sellers, other third parties or you from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:

(a) We may close, suspend, or limit your access to your Account or the Service, and/or suspend the processing of any transaction;

(b) We may hold, apply or transfer the funds in your Account as required by judgments and orders which affect you or your Account, including judgments and orders issued by a competent court or elsewhere and directed to SeaMoney or any of its affiliates;

(c) We may refuse to provide the Service to you now and/or in the future; and/or

(d) We may hold your funds for a period of time reasonably required to protect against the risk of liability to SeaMoney or a third party, or if we believe that you may be engaging in potentially fraudulent or suspicious activity and/or transactions.
 
12.2. For the purposes of this clause:

(a) "Chargeback" means a request that a buyer files directly with his or her debit or credit card company or debit or credit card issuing bank to invalidate a payment;

(b) "Claim" means a challenge to a payment that a buyer or seller files directly with Shopee or any of its affiliates; and

(c) "Reversal" means the reversal of a payment by Shopee or any of its affiliates because of any of the following circumstances: (i) it is invalidated by the sender's bank; (ii) it was sent to you in error by Shopee or any of its affiliates; (iii) the sender of the payment did not have authorization to send the payment (for example: the sender used a stolen credit card); (iv) you received the payment for activities that violated these Terms and Conditions or any other SeaMoney or its affiliates’ policy; or (v) SeaMoney or its affiliates decided a Claim against you.
 
13. Indemnity

13.1. You agree to indemnify, defend and hold harmless SeaMoney, and its shareholders, subsidiaries, affiliates, directors, officers, agents, co-branders or other partners, and employees (collectively, the "Indemnified Parties") from and against any and all claims, actions, proceedings, and suits and all related liabilities, damages, settlements, penalties, fines, costs and expenses (including, without limitation, any other dispute resolution expenses) incurred by any Indemnified Party arising out of or relating to: (a) any transaction made on the Site; (b) any dispute in relation to such transaction; (c) the hosting, operation, management and/or administration of the Service by or on behalf of Shopee and/or SeaMoney; (d) your violation or breach of any term of these Terms and Conditions or any policy or guidelines referenced herein; (e) your use or misuse of the Service; (f) your breach of any law or any rights of a third party; or (g) any content uploaded by you.

14. Severability

14.1. If any provision of these Terms and Conditions shall be deemed unlawful, void, or for any reason unenforceable under the law of any jurisdiction, then that provision shall be deemed severable from these Terms and Conditions and shall not affect the validity and enforceability of any remaining provisions in such jurisdiction nor the validity and enforceability of the provision in question under the law of any other jurisdiction.

15. Governing Law 

15.1. These Terms and Conditions shall be governed by and construed in accordance with the laws of Malaysia. 

15.2. Any dispute, controversy, claim or difference of any kind whatsoever arising out of or relating to these Terms and Conditions against or relating to Shopee and/or any Indemnified Party under these Terms and Conditions shall be referred to and finally resolved by arbitration administered by the Asian International Arbitration Centre (“AIAC”) in accordance with the Arbitration Rules of the Asian International Arbitration Centre (“Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. There will be one (1) arbitrator. Any arbitration award shall be made in writing and shall be final and binding on you and SeaMoney. The place and seat of the arbitration shall be Kuala Lumpur, Malaysia. The language to be used in the arbitration proceedings shall be the English language and the fees of the Arbitrator shall be borne equally by you and SeaMoney, provided that the Arbitrator may require that such fees be borne in such other manner as the Arbitrator determines is required in order for this arbitration clause to be enforceable under applicable laws. Both Parties agree that Part III of the Arbitration Act 2005 shall not apply to these Terms and Conditions or the arbitration proceedings arising out of this Agreement.

15.3. These Terms of Service and the rights and obligations of you and SeaMoney under these Terms of Service shall remain in full force and effect pending the award in any arbitration proceeding hereunder, save for the part in dispute and is to be determined in the arbitration proceeding.

16. General Provisions

16.1. SeaMoney reserves all rights not expressly granted herein.

16.2. SeaMoney may modify these Terms and Conditions at any time by posting the revised Terms and Conditions on the Site. Your continued use of the Site after such changes have been posted shall constitute your acceptance of such revised Terms and Conditions.

16.3. You may not assign, sublicense or transfer any rights granted to you hereunder or subcontract any of your obligations.

16.4. Nothing in these Terms and Conditions shall constitute a partnership, joint venture or principal-agent relationship between you and SeaMoney, nor does it authorize you to incur any costs or liabilities on SeaMoney’s behalf.

16.5. The failure of SeaMoney at any time to require performance of any provision hereof shall in no manner affect its right to enforce the same at a later time, unless the same is waived in writing.

16.6. These Terms and Conditions are solely for your and our benefit and are not for the benefit of any other person or entity, except for Shopee's affiliates and subsidiaries (and each of SeaMoney's and its affiliates' and subsidiaries' respective successors and assigns).

16.7. The terms set forth in these Terms and Conditions and any agreements and policies included or referred to in these Terms and Conditions constitute the entire agreement and understanding of the Parties with respect to the Service and the Site and supersede any previous agreement or understanding between the Parties in relation to such subject matter. The Parties also hereby exclude all implied terms in fact. In entering into the agreement formed by these Terms and Conditions, the Parties have not relied on any statement, representation, warranty, understanding, undertaking, promise or assurance of any person other than as expressly set out in these Terms and Conditions. Each Party irrevocably and unconditionally waives all claims, rights and remedies which but for this clause it might otherwise have had in relation to any of the foregoing. These Terms and Conditions may not be contradicted, explained or supplemented by evidence of any prior agreement, any contemporaneous oral agreement or any consistent additional terms. For the purposes of this clause, references to “Party” means either you or SeaMoney and “Parties” means you and SeaMoney.

16.8. You agree to comply with all applicable laws, statutes, regulations and codes relating to anti-bribery and corruption including without limitation, the Malaysia Anti-Corruption Commission Act, the UK Bribery Act, the US Foreign Corrupt Practices Act and the Singapore Prevention of Corruption Act and confirm that you have and shall have in place all policies and procedures needed to ensure compliance with such requirements.

16.9. If you have any questions or concerns about these Terms and Conditions or the Site, please contact us at: help@support.shopee.com.my.help@support.shopee.com.my

LEGAL NOTICES: Please send all legal notices to legal.my@shopee.com and attention it to the “General Counsel”.
 
I HAVE READ THESE TERMS AND CONDITIONS AND AGREE TO ALL OF THE PROVISIONS CONTAINED ABOVE AND ANY REVISION TO THE SAME HEREAFTER. BY CLICKING THE “ACTIVATE NOW” BUTTON, I UNDERSTAND THAT I AM CREATING A DIGITAL SIGNATURE, WHICH I INTEND TO HAVE THE SAME FORCE AND EFFECT AS IF I HAD SIGNED MY NAME MANUALLY.


Last Updated: 26 August 2021



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