1. Definitions
Unless the context requires otherwise the following terms and expressions shall have the meaning set out below.
1.1. Agreement means the agreement or contractual relationship between the first party and second party in pursuant to these terms and conditions.
1.2. Application form means Paymax Card application form to be completed by the cardholder
1.3. CDM means cash dispensing machine which allows the cardholder to make cash withdrawal facilities belonging to first party First party, which accepts the first party issued card.
1.4. Agents means any person or entity authorized by first party to provide any part of first party’s services.
1.5. Card means any physical or virtual card issued by first party to the second party’s employee and includes new, renewed, reissued or replacement cards which is used to avail the card services provided by first party.
1.6. Card Swap refers to converting from one Lari issued card to another Lari issued card as per second party’s or cardholder’s request
1.7. Charges means amount payable by the cardholder arising from use of the card or the card number or card with the PIN under these Terms and Conditions and includes without limitation all card transactions, fees, other charges, additional expenses damages, legal costs and disbursements which will be debited to the card account and form part of the current balance.
1.8. CHIP refers to microprocessor embedded in the card.
1.9. Employer shall mean any individual person or entity employing one or more worker(s) in consideration of a remuneration of any kind whatsoever.
1.10. Domestic worker is a person who works within the scope of the employer’s residence. and shall mean any person (s), male or female, receiving remuneration for any kind of work performed in the UAE and thereby in the services of an employer.
1.11. Force Majeure any situation related to a reasonable out of control reason including, not limited to unavailability of a communications system, sabotage, fire, flood, explosion, civil riots, war or any government procedures.
1.12. Fund Transfer (FT) is a process of transferring the domestic worker’s salary funds electronically to UAE Central Bank.
1.13. File and Fund by Lari (LL) refers the SIF and the funds transferred electronically by Lari to UAE Central Bank.
1.14. File By Lari Fund by Bank (LB) refers the SIF transferred electronically by Lari to UAE Central Bank and the funds will be transferred electronically by the Commercial Bank of the Second Party.
1.15. File and Fund by Bank (BB) refers the SIF and the funds will be transferred electronically by the commercial bank of the second party.
1.16. MasterCard a open loop card with MasterCard logo issued by Lari Exchange in association with MasterCard Worldwide.
1.17. Merchant /Merchant Establishment means any corporate entity, person or other establishment supplying goods and / or services who accepts the card or the card numbers as a mode of payment or reservation by the cardholder.
1.18. Negatively Acknowledged File (NAK) refers to SIF rejected by UAE Central Bank and funds withheld with UAE Central Bank.
1.19. Personal Identification Number (PIN) issued to the cardholder to enable the card to be used at an CDM, POS, IVR of first party and /or other authorized terminals for a cash advance or any card transaction.
1.20. Point of Sale (POS) terminal means an electronic terminal available at merchant establishment whether local or international capable of processing the card transactions to purchase of goods and services.
1.21. Paymax MasterCard chip a card with microprocessor embedded as an added security feature.
1.22. Salary product is a scheme under which the cardholder is entitled to receipt of the funds into the card account only as “Salary” from the employer and is in accordance with the guidelines form the Central Bank of the UAE and Ministry of Labor.
1.23. Return to Company (RTC) refers to funds returned to the second party due to error in one of the records in SIF details.
1.24. Salary Information File (SIF) refers to the employee’s salary details provided by the second party in a prescribed format for salary processing.
1.25. SIF Regeneration (SIF) is a process of regenerating the SIF at the request of the second party.
1.26. SIF Transfer (SIF) is a process of transferring the SIF electronically to UAE Central Bank.
1.27. Salary Disbursement is a process of disbursing the salary to the domestic worker’s of the second party.
1.28. Stored Value Card (SVD) a pre-loaded card or a prepaid card wherein the cardholder loads the funds into the card prior using the card.
2. Services
Both the parties have agreed on the following services rendered by first party to the second party in addition to the salary disbursement services.
2.1. Provides the salary disbursement services in accordance with the WPS to the domestic workers through LARI CDM, branches, other bank ATMs, POS cash disbursement
2.2. Renders free of charge, the following added value services related to the Salary Disbursement Services:
2.3. Collect all the registered domestic worker documents and information needed for the salary disbursement services.
2.4. Send SMS alerts and email message to the second party for receipt of funds from the second party, SIF processing, credit processed to the employee’s account.
2.5. Operates call center to handle all queries and complaints from the employees› of the second party such as lost, stolen, reissue of PIN and balance enquiry.
2.6. Provide different options in the CDM or POS machines, first party’s website / mobile application for balance enquiry, change of PIN and to lock lost or stolen card.
2.7. At the request of the second party, provide training to the domestic workers of the second party for using CDM, remittance services, and resolve any other enquiries related to Paymax card.
2.8. Re-generate and process the SIF based on the request from the second party.
2.9. The first party also provide the following services with the agreed fees charged to the second party.
2.10. Disburse the salary to the domestic workers of the second party.
2.11. Transfer the SIF, received from the second party electronically to UAE Central Bank
2.12. Issue an internationally accepted Paymax MasterCard (valid for five years) CHIP which can be used at millions of retail establishments, CDM’S globally, at Lari’s branches and other outlets.
2.13. Remittance services renders this services to the second party’s domestic workers subject to the applicable remittance fees and directly paid by the employee at the time of availing the services.
2.14. Provide different card delivery services, to the domestic workers of the second party, card pick-up from Lari Branches, card delivery by Lari staff and arranging card delivery through courier services.
2.15. Provide card issuance management services such as card renewal, card replacement, PIN re generation, card swapping as per the agreed fees.
2.16. Additional services or any new value added services to the existing services the first party will declare in advance as per the agreed-upon fees.
3. Rights and Responsibilities
The following defines the rights and responsibilities which both the parties have to abide by
3.1. First Party’s Rights and Responsibilities
3.1.1. For disbursing the salaries as per the salary data approved by the second party in accordance with the WPS guidelines as per the turnaround time.
3.1.2. To notify the employees from time to time of the new services and new locations of the CDM, POS machines, branches and agents.
3.1.3. To ensure that all the applied data protection policies are subject to the highest international standards, and with the commitment to the data protection requirements issued by the Central Bank of the UAE.
3.1.4. To provide reports and historical reports by registered email to the domestic workers on their request of salary disbursement details and the card balances to the domestic workers
3.1.5. Responsible to maintain the domestic worker’s account credits in the Paymax MasterCard to enable the domestic workers to withdraw the balance amount at any time.
3.1.6. Exercise its rights to accept or reject the claim for refund submitted, in accordance with the guidelines of UAE Central Bank.
3.1.7. Right to claim from the second party for any loss or damage incurred due to incorrect contact or any additional details as registered at the time of agreement or for any incorrect or delayed submission of salary data.
3.1.8. To issue, renew, replace, regenerate PIN Paymax MasterCard to the domestic workers of the second party as per the turn round time.
3.1.9. Notify the second party for any amendments or notification received from UAE Central Bank or MasterCard Worldwide which effects this service agreement.
3.1.10.To re-credit the funds to the second party’s account on the same day for any RTC record.
3.1.11.To re-credit the funds within two business days to the second party’s account for NAK file or keep the funds for further SIF processing as requested by the second party.
3.1.12.Responsible to maintain all the time sufficient balance in CDMs and branches as per the policies and procedures.
3.1.13.Ensure to refund within two business days for any RFR for LARI card holders. First party is not liable for any RFR for the bank account holders, and it is the responsibility of the respective banks of the account domicile.
3.1.14.Right to monitor the WPS activities of the second party and report any violations to UAE WPS of the UAE Central Bank
3.1.15.Return the funds to the second party for any negatively acknowledged file by UAE Central Bank.
3.1.16.Right to collect the applicable standard fee from the second party for the following services:
Service Type
Service Registration Fee
Salary Information File Fee
Salary Processing Fee (per record)
New Paymax Card Issuance Fee
Paymax Card Renewal Fee
3.2. Second Party’s Rights and Responsibilities
3.2.1. Ensures to provide all the required documents and information of the second party and its domestic workers in the form of an electronic copy as per the file format provided (at the time of registration) to the first party and for the salary disbursement services in accordance with the WPS guidelines.
3.2.2. Submit the monthly salary data have been electronically submitted within the acceptable time limit as per the prescribed forms submitted by the first party which is in line with requirement of WPS.
3.2.3. For the domestic worker total salary amount stated in the submitted file along with the agreed service fees have been remitted to the first party at the acceptable time limit prior to salary file processing.
3.2.4. For the total salary amount and the agreed service fees has been paid either via first party›s branches by means of cash or issuing a cheque in favor of first party or to be remitted to first party›s account mentioned below or the first party’s account with other banks (provided on request) or the special WPS account with Abu Dhabi Commercial Bank by depositing cash/ cheque or fund transfer through its branches using specially printed slip.
Lari Exchange, IBAN AE230030000159117020002
ACCOUNT NUMBER: 159117020002
ABU DHABI COMMERCIAL BANK
BANIYAS TOWN BRANCH, Abu Dhabi, UAE.
3.2.5. n case mode of remittance is other than cash, the fund realization and credit posted to first party’s account is known as funds received date which should be the acceptable time limit prior to salary file processing.
3.2.6. To report in writing with required documents for any amendments such as add /modify / delete any record in the employee list to first party at least three days prior to the next salary file processing date.
3.2.7. To submit the completed Request for Refund Form (RFR) along with the documents to claim the refund of its domestic worker’s salary.
3.2.8. To remit the agreed service fee for salary processing New/Replacement/ Renewal/PIN Re-generation to the first party at the acceptable time limit prior to salary file processing and card issuance respectively
3.2.9. Update the first party for any change in the contact details or any additional details, as registered at the time of the agreement
3.2.10.To contact the following for the respective services:
3.2.11.New /Replacement /PIN Regeneration: newcard@lariexchange.com
Renewal Card: renewalcard@lariexchange.com
SIF processing: salary@lariexchange.com
3.2.12.To supply the first party with valid documents at the time of signing the agreement. In case during the agreement period if validity period expires for any documents provided, ensure to update the first party by providing with renewed / amended documents.
4. General Conditions
Both the parties agreed to the following general conditions of this agreement
4.1. Notices required by this agreement will be sent to the two parties first to their abovementioned addresses or other addresses defined in writing by the two parties from time to time and to be sent via registered mail.
4.2. Amendment and Agreement: Any amendment, modification or assignment of any provision of this agreement will not be deemed valid or abiding unless it is made in writing and duly signed by the two parties. In case of assignment, the signature of the assignee will be sufficient. Any delay or non practicing any privileges, power or right of any party, and any individual or partial practice will not be interpreted as an assignment or expected to be as non-practicing that right or any other right in this agreement.
4.3. Force Majeure The two parties will not be held responsible for any breach of their obligations as per this agreement if the delay or unfulfilling was due to “Force Majeure”. Each party has to notify the other party immediately about this force majeure situation, and they have to consult each other for an acceptable settlement.
4.4. Governing Law and Arbitration The conditions of this agreement are subject to and interpreted in accordance with Abu Dhabi Laws and the laws of the UAE as applied in the Emirate of Abu Dhabi.
4.5. Settlement of any dispute or disagreement or claims arising from or related to this agreement, or any terminating, violation will be referred to arbitration in accordance with the laws of Abu Dhabi and the laws of the UAE.
4.6. All arbitration procedures and the issuance of arbitration award will be in Arabic.
4.7. The first party shall not be liable for acting in good faith upon the second party’s instructions.
4.8. All the fees pursuant to or in connection with the Terms and Conditions are non-refundable.
4.9. The first party is no liable for any disputes arise between the second party and its employees in relation to the underlying contact remains a matter between them.
5. Validity of the Terms of this Agreement
Unless express otherwise, the validity of the terms of the agreement states as follows:
5.1. If anyone or part of the terms of this agreement proves to be illegally unsound or unenforceable in any way, this will not affect the validity of the remaining terms.
5.2. The first party believes the terms of this agreement are fair. If anyone or part of them proves to be not legally valid because it is unfair or for any other reason, the first party is entitled to treat that term is changed in a way that makes it fair and valid.
5.3. If first party relax any of the terms of this agreement once, this may be on a temporary basis or as a special case only. Such relaxation will not affect first party’s rights to enforce that terms strictly at any other time.
5.4. The validity of this agreement is for one year with effective from the date of signing the agreement by both the parties. On expiry, it will be renewed for a consecutive term.
5.5. However, if the second party wishes to sever the agreement or using the services of any other Salary File Processor at any time, the first party do not restrict the same.
5.6. By signing this service agreement, both the parties agreed that all the provisions of the terms and conditions of any agreement signed prior to effective date of this service agreement shall become null and void.
5.7. The agreement is invalid with immediate effect of the expiry date of the documents provided by the second party. The first party is not liable for any loss incurred on account of invalid documents.
Download The Service Agreement