Business to Business Payment Services / B2B Service Sample Clauses

Business to Business Payment Services / B2B Service a. With effect from the Effective Date and for the duration of the Agreement, the Client shall: i. Bank Cash in the Trust Account equivalent to the aggregate amount of E-Money The Client wishes to remit to its Recipients at any one time. The Recipients must be organizations registered with Safaricom for Lipa na M- PESA Services, B2C Services and Bulk Payment Services; ii. Instruct Safaricom to make remittances from the Client’s M-PESA Account to nominated Recipients through the M- PESA Access Channel and hereby irrevocably instructs Safaricom to levy the charges for the M-PESA Service from the Client’s M-PESA Account; iii. Take all reasonable steps to ensure that Recipients receive the gross amount of their payments without set off, counterclaim or deduction of charges; iv. In the instance where the Client undertakes a transaction on behalf of a third party, the Client shall ensure that contents the M-PESA confirmation message are immediately communicated with the third party; b. With effect from the Effective Date and for the duration of the Initial Period, Safaricom shall: i. Create the Client on the M-PESA System as an “Organization”; ii. Activate the Client’s M-PESA Account through which the Client can make payments to Recipients under the Business to Business (B2B) functionality and where the Client can make payments on behalf of third parties; iii. Train the Client staff to enable them effectively perform remittance transactions on the MPESA System and/or the M-PESA Channels; iv. Facilitate the Issuance of E-Money to the Client upon confirmation by Custodial Trustee of the value of Cash banked in the Trust Account comprising the aggregate Transaction value, as the case may be; c. During the subsistence of this Agreement, the Client undertakes that it shall at all times comply with such reasonable guidelines as may be communicated to the Client by Safaricom in writing from time to time.
Sample 1
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