Terms and conditions of using Waffy escrow services
First: introduction and preliminary provisions
1- this agreement defines your rights and obligations as a user in relation to the service provided by Waffy, and your access to the service is conditioned upon your acceptance of and compliance with the terms and conditions set forth herein, and if you do not agree to any of these terms and conditions, you must immediately cease accessing or using the service.
2- Waffy has the right to amend this agreement at any time, and such amendments will be published on the Waffy website and shall take effect from the date of publication
3- The terms and expressions set out in this agreement shall have the meanings assigned to them in the definitions provided in clause (second) below, regardless of whether such terms and expressions appear in singular or plural form, or in masculine or feminine form, or are connected to any pronouns
Second: definitions
The following terms and expressions, wherever stated in this agreement, shall have the meanings set forth opposite each of them, unless the context requires otherwise
Waffy: Waffy Financial Technology Company (a limited liability company), registered under commercial registration number (4030433771). The reference to “Waffy” includes its mobile application and website. Waffy may also be referred to as “we” or by first person pronouns.
Agreement: Terms and Conditions Agreement for the use of the Waffy Application, including the Waffy Website, which may also be referred to as the (‘Terms and Conditions’).
Service: The intermediation service rendered by Waffy for the management of transactions between the seller and the buyer, pursuant to the scope of services and liability limitations stipulated in Section (Four) of this Agreement.
User The Seller, the Buyer, and all visitors and others who access or utilize the service. The user may also be referred to as you or by second-person pronouns.
Product Any physical goods or services supplied by the Seller to the Buyer via the Waffy platform.
Transaction The product sale and purchase transaction between users mediated by Waffy.
Transaction Amount: The aggregate transaction value and the fees related thereto.
Fees: Shall include the service fees rendered by Waffy, government fees, banking charges, and shipping and delivery costs, where applicable, pursuant to the provisions stipulated in Section (Nine) of this Agreement.
Buyer Account: The account via which the creation or execution of the payment transaction for the transaction value is initiated by the buyer.
Seller Account: The account through which the transaction is created, and in which the payment operations for the transaction value are displayed.
Waffy Acccount: The account designated for reflecting the measures undertaken by Waffy in respect of the transaction pursuant to this Agreement, including the temporary suspension of the transaction pending a determination by the competent team to proceed with or terminate it.
Escalate to Waffy: A service rendered by Waffy, via its dedicated dispute resolution team, involving the examination of grievances filed by users should any issues impact the consummation of the sale transaction, and the arbitration thereof, pursuant to the terms and conditions of this Agreement.
Inspection Period: A duration of two days commencing upon the buyer’s receipt of the product or after the lapse of five days from the completion of the payment transaction.
Privacy Policy: Waffy’s policies and procedures pertaining to the collection, usage, and disclosure of personal information upon the utilization of or access to the service, which may be perused on Privacy Policy
3. Acknowledgements
Accessing the service shall be deemed an agreement and representation by you of the following:
1- You represent that you are no less than (18) Gregorian years of age and hold the full legal and Sharia capacity required to register for and utilize the service, abide by these Terms and Conditions, and consent to the granting of any rights, permissions, or licenses pursuant hereto as necessitated by the service.
2- You acknowledge that you have perused the Privacy Policy and consented to its terms.
3- That all registration information you provide is true, accurate, current, and complete, and that you will maintain the accuracy of this information and update it immediately if any change occurs.
4- You covenant to utilize the service in good faith and exclusively for your own personal benefit, and not as a representative or on behalf of any other person or legal entity.
5- You covenant not to breach any applicable laws, regulations, decrees, or directives—or their equivalents—throughout your usage of the service, and you shall bear sole liability for all consequences arising from your non-compliance with said applicable laws, regulations, directives, or their equivalents.
6- You covenant not to utilize the service for any fraudulent, illicit, or unauthorized venture, whether directly or indirectly.
7- You covenant not to utilize the service in any way that results, by any means, in the impairment or disruption of the service, the Waffy application, or its website.
8- You represent that you have not accessed the application by any illicit or automated means.
9- You hereby acknowledge that the service is not designated for utilization by any individual or entity in any country or jurisdiction where such utilization would violate prevailing laws, statutes, or ordinances, and you shall bear exclusive responsibility for ensuring compliance with the local legislation in the location of use.
10- That you are not subject to any sanctions and are not listed on any prohibited or restricted party lists, and that you are not owned or controlled by any such party.
4. Scope of Services and Liability Limitations
1- Services rendered by Waffy are characterized as intermediation aimed at empowering sellers to list their products and facilitating sales to buyers, subject to specific regulations and at the users’ sole liability. Furthermore, Waffy undertakes the management of transactions between sellers and buyers and the resolution of disputes arising during the service period via the escalation mechanism to Waffy, thus increasing the trustworthiness of these dealings.
2- Waffy does not process or hold the amounts paid by users; rather, it manages the authorizations related thereto in accordance with this Agreement and user instructions. Payment processing and retention are conducted through a third party, which is the payment service provider contracted by Waffy.
3- The liability of Waffy is restricted to the provision of transaction facilitation and management services pursuant to this Agreement, excluding any services rendered by third parties, such as payment processing and fund retention. Waffy offers no guarantees and disclaims all liability should a user (seller or buyer) fail to adhere to this Agreement or applicable laws and regulations, including the Electronic Commerce Law. Moreover, Waffy shall not be held responsible for any risks, damages, consequential effects, or losses sustained by the user or any third party.
4- Without prejudice to the foregoing paragraph, should any damage be incurred by you due to the failure of any user to adhere to this Agreement, you may inform us via escalation to Waffy. We shall undertake the necessary measures for dispute resolution pursuant to the procedures stipulated in Section (Eight) of this Agreement.
5- In the event of a dispute between you and any other user, you hereby agree to release Waffy from any and all legal claims, demands, and damages, whether actual or consequential, arising from or related to such dispute in any manner. Furthermore, you explicitly waive any legal protections known or suspected to exist in your favor, to the fullest extent permissible under applicable laws and regulations.
6- Availing of the service necessitates prior registration on the Waffy platform.
7- Waffy shall not be held liable for any amounts paid outside the platform by any party.
5- Banned Transactions
The service does not cover prohibited, illegal, or unauthorized transactions. We may, at our discretion, reject any transaction that is prohibited, violates the law, is unauthorized, or is conducted by a person other than the user, without providing any reasons.
A list of commodities forbidden for sale or transaction through the Waffy platform, including but not limited to the following:
1- Prohibited transactions—for which Waffy may not be used—include any transaction involving an illegal element, aiming for an unlawful purpose, or containing any material that violates applicable regulations, laws, or public morals.
2- Any products containing ammunition or firearms, meaning weapons of all types such as stun guns, pistols, machine guns, and personal protection weapons and their accessories, even if they are licensed.
3- Any products encompassing pirated software or video clips that violate copyright-protected works, in addition to hacked or stolen accounts and the resale thereof via the application.
4- Any illegal drugs, narcotic substances, or intoxicants, along with any other forbidden transactions or tobacco products and all types of electronic shisha and vaping products.
5- Pharmaceuticals, medical, and health products.
6- Installment sales and all banking products, such as financing, loans, and others, even if they are legitimate.
7- Laser equipment, surveillance or interception devices, and restricted hardware including: signal jammers, decoders, mobile signal repeaters, and security or law enforcement-grade devices.
8- All commodities forbidden for sale pursuant to the laws enacted in the Kingdom of Saudi Arabia, or any dealings with individuals or entities subject to a prohibition on transactions.
Each user agrees to indemnify Waffy for any damage arising, directly or indirectly, from a prohibited transaction.
6. Terms for Seller Users
In addition to complying with all terms of this agreement, the seller shall adhere to the following:
1- Register by creating a seller account and specifying the bank details through which the amounts due for his products will be received, provided that such details belong to him personally and not to any other person or entity.
2- Package the products—that require delivery and shipping—in a manner that ensures they are not damaged and in accordance with the security, health, and safety requirements issued by the competent authorities in the Kingdom of Saudi Arabia.
3- Continue to bear sole responsibility for the sold product, including responsibility for defects and warranties related to the product, in accordance with relevant regulations and laws, including the E-commerce Law.
4- Refrain from displaying any content or product that infringes upon intellectual property rights.
5- Deliver the product in accordance with the displayed specifications and details, and through the receipt method agreed upon by both parties, within five business days from the completion of the payment process. In the event of a delivery delay, where an escalation is raised and cancellation is requested if shipping has not occurred, Waffy shall refund the transaction value—after deducting associated fees—to the buyer within a maximum of fourteen business days from the date the inspection period expires, in accordance with the approved return policies.
6- Cooperate with the dispute resolution team and abide by its decision in the event of an escalation to Waffy, in accordance with the provisions and procedures set forth in Article (Eight) of this Agreement.
7- The Waffy platform enables the sale of digital products within the application, and payment must be completed prior to receiving the code or ticket. Waffy shall be responsible only for the escrowed amount and bears no liability regarding the validity of codes or tickets. Sharing codes or numbers before payment is strictly prohibited. Users are requested not to include images containing recharge cards or sensitive data, as all attachments are displayed to the other party upon opening the link.
7. Terms for Buyer Users
In addition to complying with all terms of this agreement, the buyer shall adhere to the following:
1- Register by creating a buyer account and designating a payment method supported by Waffy for the receipt of the amounts specified for product prices and associated fees.
2- Choose the product receipt method immediately after completing the payment process, and confirm receipt upon its arrival. If the buyer fails to confirm product receipt within five days from the completion of the payment process, the two-day inspection period shall commence.
3- In the event that the transaction is cancelled by either party for any reason, whether before or after the delivery of the product, it shall be closed and the amount refunded to the buyer after deducting the commission.
4- Accept or reject the product before the expiration of the inspection period. In the event that such acceptance or rejection is not expressed during the inspection period, the transaction value, after deducting associated fees, shall be deposited into the seller’s account automatically, without waiting for the buyer’s approval or notification, within a maximum of seven business days from the date the inspection period expires.
5- Cooperate with the dispute resolution team and abide by its decision in the event of an escalation to Waffy, in accordance with the provisions and procedures set forth in Article (Eight) below.
8. Escalation to Waffy
1- Either the seller or the buyer may escalate the matter to Waffy after the payment process is completed through the designated icon for this purpose and by filling out the relevant complaint details. In this case, the transaction will be temporarily suspended.
2- Upon escalation to Waffy pursuant to the preceding paragraph, the dispute resolution team shall contact both the seller and the buyer within a maximum of 24 hours to review the complaint via telephone calls, internet calls, or both. The seller and the buyer are obligated to provide the team with the requested documents via email within the timeframe specified by the team.
3- Escalation to Waffy shall result in either the completion or the cancellation of the transaction, with or without compensation, as per the dispute resolution team decision. This decision shall be binding on the seller within a maximum of seven business days from the date both the seller and the buyer are notified.
4- If the escalation to Waffy and the temporary suspension of the transaction occur before the buyer receives the product, the transaction value shall be refunded to the buyer after deducting associated fees within a maximum of 14 business days from the date of notifying the seller and the buyer of the dispute resolution team decision.
5- The buyer expression of rejection of the product after receipt during the inspection period is considered an escalation to Waffy. If the dispute resolution team decides to cancel the transaction in this case, the value shall be returned to the buyer after deducting associated fees plus compensation if any following the completion of product return procedures to the seller. This shall be carried out within a maximum of 14 business days from the date of notifying the seller and the buyer of the dispute resolution team decision.
6- Without prejudice to any of the buyer’s statutory rights against the seller, the buyer may not escalate to Waffy or demand a refund of the transaction value from Waffy after accepting the product during the inspection period, or after the expiration of such period without expressing either acceptance or rejection.
7- In the event that the dispute resolution team decides to complete the transaction and transfer the amount to the seller, the transfer shall be carried out within a maximum of seven business days from the date of notifying the seller and the buyer of the dispute resolution team decision.
8- In the event that the dispute resolution team decides to transfer a portion of the amount to the seller and a portion to the buyer, the transfer shall be carried out within a maximum of seven business days from the date of notifying the seller and the buyer of the dispute resolution team decision.
9. Fees
A fee of 4% shall be deducted from the total transaction value for Waffy, excluding any external platform fees.
Except for cases where the dispute resolution team decides otherwise based on the incident, the user responsibility for fees shall be as follows:
1- The seller shall bear the service fees from the total transaction value.
2- The buyer shall bear any government fees related to the transaction, including Value Added Tax (VAT).
3- Fees for shipping the product or returning it to the seller shall be determined by agreement between the parties. In the absence of an agreement, the matter shall be referred to the dispute resolution team to obligate either party to bear the shipping costs.
4- Both the seller and the buyer shall bear their respective outgoing transfer fees and any other bank fees.
5- The buyer shall bear the service fees from the total transaction value in the event that the amount is refunded to the buyer.
10. Miscellaneous Provisions
This agreement and any obligations arising out of or in connection with it shall be governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia.
1- In the event of a breach of any provision of this agreement, Waffy shall have the right to suspend or terminate your account, or deny any access to or use of the service at any time. You shall not be entitled to claim any compensation. Waffy also reserves its legal right to claim compensation for any direct or indirect damages incurred by it or its users.
2- In the event that a transaction is conducted via the Waffy application, whether by providing a product physical, electronic or a service, and is closed with the approval of either party and the transfer or return of financial dues, no party shall have the right to claim a return or compensation for the product or any financial amounts. All parties shall be fully aware that Waffy’s guarantee terminates immediately upon closure.
3. Waffy communicates with you via electronic means, such as email, SMS, in-app notifications, website messaging, or other channels. All agreements, notices, disclosures, or other communications provided to you electronically satisfy any legal requirement that such communications be in writing. You may contact us via the customer service number provided on the website or the application for further assistance.
4- This Agreement was prepared in the Arabic language. Both texts are equally authentic; however, in the event of any discrepancy in interpretation, the Arabic text shall prevail.