These Terms and Conditions provide an overview of the rights, obligations, and conditions for using the IBAS services. It also constitutes the agreement between the User and IBAS financial institution. In addition, the user must first read and confirm the acceptance of these Terms and Conditions before registering for the use of the IBAS Service.

By creating an account at IBAS, you confirm that you have read, understood, and accepted the Terms and Conditions of this electronic contract.

1.   Definitions

IBAS –

the financial institution, IBAS, with a Unique Identification number 810195257, with a physical address on Tirana Street no. 91, 10 000 Prishtina, Republic of Kosovo, which is a contracting party to this agreement;

IBAS account -

the account opened by natural persons or legal entities which enables the Client to perform the actions provided in Article 3 of this Contract;

Client -

the natural or legal person who under this agreement has an IBAS account registered in his/her name;

Payment Transaction -

the financial action that consists of debiting the customer's account at IBAS or the affiliated bank and crediting the account of the Merchant or other Beneficiary for the value of the goods/services;

Invoices –

institutions, organizations, or similar entities that issue a monthly or another invoice against which you create a payment obligation;

Pay –

the button through which you turn to the possibility of paying for goods or services in shops, restaurants, hotels, cafeterias, or any economic entity;

Transfer –

the self-service space for the transfer of funds from your IBAS account to the account of a natural or legal person holding an active IBAS account;

Debit -

the reduction of the Client's account funds as a result of a transaction performed by the Client for the benefit of the Merchant / Beneficiary;

Credit -

any transaction entered into the Client's account and performed using the electronic payment system;

Tariff -

payment to IBAS on behalf of the cost of performing the service;

Intellectual Property –

one or all patents, trademarks, industrial designs, copyrights, know-how, workflow, or other intellectual property rights, whether registered or unregistered;

Personal data –

has the same meaning as in Law no. 06 / L-082 on Personal Data Protection and other acts;

Signature –

electronic signature or SMS code / electronic identification token that meets the following requirements:

a. it is owned exclusively by the signatory;

b. can identify the signatory;

c. is created and/or sent to tools that the signatory can only keep under his/her control; and

d. is connected to the data to which it is connected in such a way that each subsequent data change is distinct;

Signer -

the person who keeps the data for the creation of the signature and acts either on his/her own behalf or behalf of the person representing him/her;

Authorized person -

any natural or legal person that you have authorized by applicable law;

Electronic contract –

meaning this contract made in whole or in part by electronic communication or in electronic form and is in full force according to article 11 of law no. 04 / L-094 for Information Society Services:

2.  Services provided by IBAS

IBAS, a financial institution, licensed by the Central Bank of Kosovo (CBK), by Law no. 03 / L-209 on the Central Bank of the Republic of Kosovo, Law no. 04 / L-155 on the Payment System, Law No. 04 / L-093 on Banks, Microfinance Institutions and Non-Bank Financial Institutions and the Regulation on the Registration of IFJBs provides:
Payment service to parties with which there are agreements, such as payments to public institutions, public companies, private companies, and IBAS service users;
Money transfer service;
Money withdrawal service from IBAS or authorized partners;
IBAS services are a prerequisite for opening an IBAS account, via smartphones, with iOS or Android operating system.

3.  IBAS account opening

IBAS offers two types of accounts: IBAS account for natural persons (from now on: personal account) and IBAS account for legal entities (from now on: the organization's account or business account)

The scope of a personal account consists of the possibility of:

a. The possibility of transferring funds to the IBAS bank account in exchange for an amount that will be distributed or credited to your IBAS account;

b. Receipt of funds transferred from an IBAS account to your IBAS account;

c. Payment of a periodic invoice or payments to organizations which are displayed in the category "Periodic Invoices";

d. Payment of a periodic invoice or payments to organizations which are displayed in the category "Periodic Invoices";

e. Transfer funds from your IBAS account to another IBAS user account via the "Send money" button;

f. Withdrawal of funds from IBAS account to cash through IBAS offices, agents or banks licensed by CBK where you have active bank accounts.

g. Application for payments loan and its acceptance if IBAS has approved the loan and the disbursement and return contract has entered into force.

The scope of the business account consists of the possibility of:

a. The possibility of transferring funds to the IBAS bank account in exchange for an amount that will be distributed or credited to your IBAS account;

b. Receipt of funds transferred from an IBAS account to your IBAS account;

c. Acceptance of payments through virtual POS (from now on vPOS);

d. Payment of a periodic invoice or payments to organizations which are displayed in the category "Invoices";

e. Payment of goods or services to a business account through the "Pay" button;

f. Transfer funds from your IBAS account to another IBAS user account via the "Transfer" button;

g. Withdrawal of funds from IBAS account to cash (Ang. CASH) through the offices of IBAS, agents, or banks licensed by the CBK and you have a bank account, active;

h. Application for payments loan and its acceptance if IBAS has approved the loan and the disbursement and return contract has entered into force.

IBAS account opening is divided into two phases.

In the first stage, you have to offer:

Phone number, where the verification code will be sent by SMS;
Personal Identification Number (PIN), respectively its confirmation;
Activation code that reflects the signature according to the definitions in law no. 04 / L-094
On Information Society Services, or the definition in this contract.

In the second stage, you must prove your identity through verification at IBAS, where you have to:

Write your first and last name;
Attach a copy (photo on both sides) of your ID or passport and a selfie;
A copy of the water or electricity bill to prove the address;
Attach a copy of the business or organization certificate if you are opening a business account (organization) and a copy of the authorization certifying that you are authorized to open an account.

4.  Activation, access, and use of IBAS services

The IBAS account will be activated and made available only after verification of your identity by IBAS officials by the procedure expressed in Article 3 of this contract.
You can only have one main individual account at IBAS. Other accounts, such as savings accounts, can be opened as “under the account.” Or another on behalf of the business or organization, you hold the status of "authorized person."
IBAS reserves the right, by the internal acts of IBAS, to refuse to open a personal or business account or to suspend it if it is observed or suspected of consuming prohibited offenses until the Court's final decision.
At IBAS app, you can also access via biometric signs, such as fingerprints, face, and voice if you have them stored on your phone. IBAS does not keep them but only uses them to access IBAS services.
IBAS undertakes to implement a service only after your account has been activated and you have provided the confirmation code of the amount, fee (if any), and the beneficiaries.

5.  Acceptance of financial assets by IBAS

IBAS accepts financial assets and allocates them to your IBAS account whenever you have:

Transfer a lot of money through eBanking or mBanking;

You have given a transfer order from your bank account at IBAS;

You have transferred from your debit or credit card.

IBAS maintains the same amount as the equivalent of the value of physical money, does not change its value, and does not compensate them for holding it.

6.  The duration of holding the money

The money found in your IBAS account will always be valid, and its validity is not related to the time.

7.  The value of money

The money transferred or held at IBAS has the same nominal value as its physical value.
Therefore, IBAS will not increase or decrease their value, regardless of the duration of their retention.

8.  Withdrawal of money from IBAS

Whenever you ask for a withdrawal, IBAS will do it without delay - within minutes, during business hours.
You can withdraw the required money from one of the IBAS offices, authorized partners, and the commercial bank in which you have an active bank account.

9.  Inheritance of funds from the IBAS account

If the IBAS account holder dies, the account becomes accessible only to the heir designated by the competent Court.

10.  IBAS service fees

You will not pay fees for the use of IBAS services, except in cases of payments to public institutions, i.e. payments that go through the State Treasury Department, acceptance of payments or transfers or withdrawal of funds from IBAS and eventual Visa costs, Master, Maestro card, etc. for the transfer of electronic money. These fees will be notified to you before the service is consumed, and if you do not agree with the price, you will be allowed to refuse.
Whenever you disagree with IBAS fees, you may refuse to use the IBAS service before confirming the transaction, and IBAS will not charge you for the service.

11.  Accuracy and processing of personal data

You pledge that the data you provide during your IBAS registration is yours and is accurate and up-to-date, or you will update it whenever your data have changed;
IBAS, during the processing of your data and/or your representatives, will act by Law no. 06 / L-082 on Personal Data Protection as well as by other legal acts in force.
The personal data you entered during account opening will be used to send information, promote, manage your account, execute transactions, and refund funds.

By accepting this agreement, you also acknowledge that your personal and contact information, which is linked to this agreement, may be transferred to:

a. third parties with whom IBAS may have a contractual relationship to execute transactions or provide other services, provided that they respect the privacy at the level required by the relevant legislation.

b. Institutions for which IBAS is obliged by the legislation towards a final decision.

If you allow it, IBAS will access your contact book and offer the opportunity to pick a phone number as an ID to send or receive money from your eWallet.

12.  Obligations and other responsibilities

In addition to the obligations already stated, other IBAS obligations to users are:
Providing IBAS service at all times (24/7), unless a technical breakdown has occurred or your account is subject to suspicion of illegal offenses, or final order from the relevant authority has forced the service to be suspended.
Provide security in transactions through data encryption and access authorization only in its funds or in roles defined by the authorized superior.
Provide proof of payment, printed on paper or through verification and/or download via the Internet (online);
Provide technical support remotely after you have proven that you are the genuine IBAS account holder;
IBAS will not use the Client's electronic money other than possible payments and transfers for which the Client has issued a confirmed order.

User obligations to IBAS are:

a. Accurate data presentation;

b. Use of IBAS only for lawful purposes, inter-alia, with particular emphasis on you:

I. If funds have been deposited in your account, which you consider should not have been in the account, you are obliged to immediately return them by dragging the transaction to the left, to the transaction list or notify IBAS immediately.”

II. You will not pay or transfer funds to another IBAS account for money laundering, financing of any illegal or terrorist act;

III. You will not use IBAS services to harm other persons or against public order and accepted principles of ethical morality;

IV. Do not disclose any passwords or other security mechanisms to third parties and do not allow any person to use the services on your behalf, except for legally authorized persons. And notify IBAS immediately or take responsibility until the moment of notification;

c. Respect IBAS copyright and intellectual property rights;

d. Do not act defamatory, threatening, or annoying when using IBAS services;

e. Do not intentionally provide erroneous, inaccurate, or confusing information to the public;

f. Collaborate during an investigation or not refuse to confirm the requested information.

g. As a business/organization account holder, you must:

i. Keep all vPOS functional and expose them in such a way that they are visible to payers and that they have easy access to payments;

ii. Notify IBAS staff of eventual VPOS malfunctions and;

iii. To accept/enable assistance in fixing technical problems as soon as possible.

iv. Ensure that the infrastructure for VPOS operation will be functional, including but not limited to telephones, PCs, or other electronic devices which will serve to accept payments;

v. Keep vPOS in a safe place and away from the possibility of damage;

vi. Encourage customers to pay with IBAS for the goods and services offered;

vii. Make sure that the IBAS advertisement and/or logo on your premises is placed in a visible and strategic location;

viii. Put up posters on the doors of your business entrance, where customers are notified that goods and services can also be paid through IBAS;

ix. Train staff to use IBAS;

x. Maintain the confidentiality of data and information exchanged between you and IBAS;

xi. Enable the physical access of IBAS personnel to make vPOS, computers, or the roles and responsibilities of your representatives functional;

13.  Keeping notes and reports

IBAS will keep all records, including but not limited to the bank account balance, for five (5) years.
You can request, and from IBAS, you will receive your IBAS account report, which describes all the activities you undertake, the account balance, and the amount of money available.

14.  Ways of communication between you and IBAS

Whenever necessary or to implement this contract more securely, IBAS will contact you at the phone number you created the IBAS account.
IBAS will record telephone conversations with you or your representative to increase the quality of service.
You can contact IBAS via the SMS integrated into the IBAS application, phone number (038600300) and email address info@ibas.world

15.  Development of enforcement procedures

If you are undergoing or initiating any enforcement proceedings and if, by applicable law, IBAS has been presented with a request to block the account, IBAS is obliged to block and maintain all necessary expenses related to implementing that requirement.

16.  Confidentiality

None of the parties to this agreement shall intentionally or negligently disclose or disclose any of the terms of this agreement to any third party, notwithstanding the written consent of the other party, unless:

When it is necessary to fulfill any legal obligation,

When these conditions are presented to a competent institution for tax purposes, evaluation or registration;

IBAS may use your data anonymously to create analysis and statistics or for financing purposes.

17.  Limitation of liability

IBAS shall not interfere with the legal and commercial relations or litigation that arose between the recipients of this agreement, including but not limited to the holder of personal accounts and holder of business accounts or the account of the organization.

IBAS does not exercise any form of control over the compatibility, security, legality, features, and appropriateness of the products and/or services subject to the transaction. In this regard, it is up to you to obtain all the information and act with the utmost care before paying for the product or service or ordering any other transaction performed. Under no circumstances is IBAS responsible for the non-performance or improper performance of the obligation and/or the damages suffered in this respect by you.

IBAS's liability to you or third parties in any circumstance is limited to direct damages caused by IBAS actions. In addition to the above, and as far as applicable laws in the Republic of Kosovo allow, IBAS is not responsible, and by accepting this agreement, you agree not to raise claims against IBAS for potential damages or losses, including but not limited to in loss of money, goodwill or reputation, profit or other damages, as a direct or indirect result of:

Inability to use infrastructure, software, or systems that are operated and/or maintained by IBAS or on behalf of IBAS;
Delays or interruptions in infrastructure software or systems that are operated and/or maintained by us or on our behalf;
Viruses or harmful programs;
Suspension or other actions against your account;
IBAS does not guarantee uninterrupted operation of operations. IBAS is committed to making the payment system work smoothly and without interruption. However, IBAS will not be responsible for the consequences arising from irregularities in the operating system due to reasons that are not under the control of IBAS.
IBAS will not be liable to you for damages caused by an action or omission by IBAS if these damages arise as a result of the legal provisions relating to it and arise as a result of the closure or suspension of your account.
IBAS is not responsible if you have given access credentials to another person.
Any access to IBAS through your phone number and PIN selected by you or your marks is deemed to have been performed by you or your authorized person, whose actions cannot be denied.

18.  Sensitivity and nullity of provisions

If one or more provisions of this agreement are considered null and void by the competent institution, this will not affect the contract's validity as a whole, and other provisions will remain in force.

19.  Complaint procedure

In case of potential dissatisfaction, IBAS has provided for the mechanization of the complaint for various issues related to IBAS services. Ways to file a complaint are through:
Postal letter;
Email at info@ibas.world
Contact call the customer service number 038600300;
Personally, in IBAS offices;
Complaints should be addressed immediately. Each complaint will be evaluated, and the decision on the complaint will be taken and communicated to you within a maximum period of fifteen (15) days from the day of receipt of your complaint.
The manager must approve any postponement beyond the fifteen (15) day limits to handle complaints within the IBAS, and special evidence will be kept in the database. Regarding the delay in question, IBAS will immediately inform you about the reasons for the delay and the date when the decision on the complaint submitted by you will be communicated.
The general duration of the postponement may not exceed thirty (30) days, except in exceptional cases, which due to their complexity, require additional time, which must be approved by the general director or his / her deputy for those cases. When the extension of the term is allowed by the laws in force.
In case of dissatisfaction with the decision taken, IBAS has foreseen the possibility to appeal to the Board of Directors of IBAS within fifteen (15) days from the day of taking the decision.
Suppose you consider that the decision of the Board of Directors of IBAS does not provide the deserved response to your claims or that your claims have been rejected or rejected. In that case, you can contact the Central Bank of Kosovo within fifteen (15) days from receipt of the last decision.

20.  Intellectual Property

PBC develops the IBAS platform, and it retains all intellectual property rights, including copyright.
Copying or reproducing business logic, workflow, or any part of it is strictly prohibited.
Any use of copyright can only be made if authorized in writing by the copyright holder.

21.  Applicable law

The interpretation of this agreement will be based on the laws applicable in the Republic of Kosovo.

22.  Amendment to the Agreement

In case of amendment of the terms and conditions of this agreement, IBAS will notify you of the proposals for amendment of this agreement one (1) month from the date of entry into force.
You have the right to terminate this agreement in case you are not satisfied with the amendments made within the period provided in the above paragraph, without any additional fines or costs.
Suppose you do not object to the amendment agreement within one (1) month before the entry into force of the amendments to this agreement. In that case, IBAS will consider that you have agreed to the new terms under the amendment. And, from the moment the amendments enter into force, the contractual relationship between you and IBAS will be regulated by the amended version of this agreement.

23.  Conflict resolution

Any dispute concerning this agreement, including its existence, validity, breach, or termination, shall be settled amicably through negotiations and discussions between you and IBAS.

Disputes that cannot resolve amicably will be settled with the competent Court in Prishtina.

24.  Closing the account

IBAS will close your account within five (5) business days based on your request. However, if you have not withdrawn the funds from the IBAS account within this period, they will destroy, and a refund will not be possible.
You cannot close your account if you have outstanding liabilities to IBAS.

25.  Completion of the Agreement

The agreement between you and IBAS is concluded for an indefinite period and enters into force when you press the "Accept" button.
You may terminate the agreement after the written notice of termination has been suspended for thirty (30) days. IBAS also reserves the right to terminate the agreement unilaterally after sixty (60) days of written notice of termination. However, suppose you engage in illegal activities under the applicable law. In that case, IBAS reserves the right to terminate the agreement without prior notice and suspend your account until a final decision by the relevant authorities.