TRANSACTION PROCEDURES

a) The MTN Mobile Money service will facilitate transfer of payments from the Client’s Customers by way of transactions initiated through the registered Customer’s mobile phones.

b) MTN shall (on its Mobile Money system) create a collections account (also known as Online Vendor Account) to which all collections will be held before liquidation to the Customer’s Bank account. After processing, the collected E-value shall be remitted to the Client’s bank account or the client may reuse the e value in accordance with the Operating Procedures below.

c) Every transaction shall be carried out as required, through the self -liquidation service in accordance with the Liquidation procedures below. MTN may amend the provisions of the Transaction Manual from time to time.

d) Each transaction shall be subject to the maximum financial limit as determined by the Bank of Uganda and the MTN Mobile Money Partner Bank, in which case the said limit shall apply.

LIQUIDATION PROCEEDURES
Funds Transfer from the Online Vendor Bill Collections Account

a) MTN shall collect bills on behalf of the Client. The Customer shall pay the required amount set by the Client in form of E-value, in addition to the Transaction fees stipulated in Schedule 2 (and as amended on the MTN website www.mtn.co.ug from time to time, or by such other medium as MTN may deem appropriate).

b) The Online Vendor Account Holder; the Client will liquidate funds at his own discretion to his bank account using the self liquidation service accessible via partner portal.

c) The liquidation instructions shall include but not limited to: -

• Account name: Online Vendor Bill collections account

• Account number: Online Vendor Bill collections account

• Bank name: -------------------------------------------------------------------

• Bank Branch: -------------------------------------------------------------------

d) Where applicable, MTN shall deduct the agreed fees before the money can be liquidated into the Client’s Bank Account.

e) The Client can access the funds at any time from the Client’s Bank after self liquidation has been executed.

FEES

This Schedule reflects the amounts that shall be applicable to Customers who use the MTN Mobile Money Bill Payment Solution.

Fee structure

1. MTN may change the above Schedule at its discretion.

2. MTN shall be entitled to a percentage of the value of the collection payment made by the Customer to the Client. The percentage will be determined after negotiation between MTN and the Client. For more information email us at MoMoCorporate.UG@mtn.com

3. MTN shall be entitled to withhold the stipulated sum of withholding tax in accordance with and as required by the tax authorities in Uganda and the laws of Uganda. MTN further reserves the right to deduct any and all applicable government taxes and/or levies, which become applicable at any time during the subsistence of this Agreement.

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