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GENERAL

These terms and conditions (The "Agreement") set forth the general terms and conditions of your use of the KIRAT website (The "Site"), "KIRAT" mobile application (The "Application") and any of their related products and services (collectively, "Services"). This Agreement is legally binding between you ("User", "You") and KIRAT registered address at Mosaitbeh, Roum street, Monty Marina building, 3rd flour, Beirut, Lebanon (Collectively, "KIRAT", "We", "Us" or "Our").

If you are entering into this agreement on behalf of a business or other legal entity, you represent that you have the authority to bind such entity to this agreement, in which case the non-case sensitive terms "User", "You" shall refer to such entity. No defined terms in this agreement shall be case sensitive.

If you do not agree with the terms of this agreement, do not accept this agreement. By accessing and using the Services, you acknowledge that you have read, understood, and agree to be bound by the terms of this Agreement. You acknowledge that this Agreement is a contract between you and KIRAT, even though it is electronic and is not physically signed by you, and it governs your use of the Services.

KIRAT reserves the right to modify or replace this Agreement at any time and in KIRAT's sole discretion. Any changes will be effective immediately upon posting the revised version. It is your responsibility to regularly check the service to determine if there have been changes to this Agreement and to review such changes. Your continued use of the Service following the posting or effective date of any changes to the Agreement will constitute acceptance of any such changes. If you do not agree to the changes, you must stop using the Service.

THE APPLICATION

KIRAT operates a digital platform that enables Users to purchase, own, manage, transfer, gift, and redeem physical gold and gold jewelry products. The Application functions as a technological interface facilitating commercial transactions between KIRAT and its Users in relation to tangible gold products.

For the avoidance of doubt, KIRAT does not operate as a bank, financial institution, electronic money issuer, payment institution, deposit-taking entity, or digital wallet provider. The Services do not constitute financial services, investment products, savings accounts, or interest-bearing instruments. Any quantities or values displayed within the Application represent owned physical gold and not monetary balances or electronic funds.

ACCOUNTS

Account Creation

You may be required to register and/or create an account in order to access all or certain parts of the Service. This process may involve providing your phone number and verifying it through a one-time password (OTP) via SMS.

All Registration Information must be accurate, current, and truthful. You must use your real name and are prohibited from creating a false identity, misrepresenting your identity, or registering an account on behalf of another person.

Any person under the age of 18 shall not register on the Application and shall not transact on or use the Application in relation to or for any Services.

You are solely responsible for safeguarding your Registration Information and for all activity carried out under your account.

Account Termination and Suspension

We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

KIRAT reserves the right, at its absolute discretion, to suspend a User's Account if any transactions or activity are suspected to be fraudulent or otherwise suspicious.

KIRAT may restrict your ability to access or use the Services, disable your Account, and/or report the matter to the competent authorities.

You are required to notify KIRAT without delay and in any event no later than Fifteen (15) days prior to the relevant transaction of any anomalies, inconsistencies, or discrepancies in your Account.

Sale and Purchase of Gold

All gold offered through the Application is sold directly by KIRAT to the User.

Upon successful completion of payment, ownership of the corresponding quantity of physical gold transfers to the User.

The price of gold is displayed at the time of purchase and is determined by KIRAT based on international market references, local market conditions, and operational considerations.

KIRAT reserves the right to determine at its own discretion the price of physical gold offered on the Platform, and to change said price as frequently as it deems fit without prior notification.

The Application may automatically block any transaction exceeding the limit of USD 9,999 and your account undergoes special requirements.

All completed purchases are considered final purchases of gold and do not constitute deposits, stored funds, or refundable account balances.

Cancellation and Sell Back Policy

Any cancellation, liquidation, withdrawal, or refund request shall be treated as a sell back transaction whereby the user sells the previously purchased gold back to KIRAT.

The amount returned to the user may differ from the original purchase amount due to market fluctuations, pricing spreads, operational costs, transaction fees, and valuation differences.

KIRAT retains sole discretion in determining applicable buy and sell rates, spreads, pricing methodologies, and repurchase valuations.

Payments and Role of Payment Service Providers

Payments made through the Application are processed exclusively via licensed third-party payment service providers (PSPs).

PSPs act solely as technical and secure payment processors and do not provide services directly to Users beyond payment execution.

PSPs do not hold User funds, do not manage gold ownership, and do not assume any responsibility or liability in relation to KIRAT’s Services.

All inquiries, claims, complaints, or disputes relating to the Services shall be handled exclusively by KIRAT.

Gold Ownership and Records

Following a completed purchase, the User becomes the owner of the purchased physical gold.

Ownership remains with the User until the gold is redeemed, gifted, or otherwise transferred.

Information displayed within the Application serves solely as an operational representation of physical gold ownership and shall not be interpreted as a monetary balance or electronic money.

Redemption of Gold

Users may request redemption of owned gold in whole or in part for jewelry offered by Vendors.

Redemption may be carried out directly by KIRAT or through jewelry vendors partnered with KIRAT.

Redemption requests are subject to minimum quantities and applicable charges such as delivery fees, taxes, duties, or other charges.

KIRAT shall not be liable for any variation in gold prices or charges applied by integrated Vendors.

Jewelry redemptions are final and irrevocable except in cases of incorrect or damaged items.

Gold Gifting

The Application may allow Users to gift owned gold to other registered Users.

Gifting constitutes a transfer of ownership of physical gold and does not represent a monetary transfer or payment service.

KIRAT shall not be responsible for incorrect recipient details provided by the User.

Gold gifts are final and irreversible.

KNOW YOUR CUSTOMER (KYC)

Users may be required to provide KYC documentation prior to purchasing gold.

KYC may be required for transactions exceeding USD 9,999.

KIRAT reserves the right to verify KYC documentation at registration or any time thereafter.

KIRAT may engage third-party service providers for verification purposes.

USER CONDUCT

Users shall not engage in spamming, phishing, hacking, or illegal activities.

Users agree not to infringe intellectual property rights or impersonate any person or entity.

Users shall not post offensive or inappropriate material.

Users acknowledge and warrant that funds used for purchasing gold are legitimate and non-fraudulent.

PAYMENT TERMS AND LIABILITY

Users are solely responsible for payment of all applicable fees and charges.

All payments must be made in United States Dollars (USD).

All fees and charges are final, non-refundable, and non-reversible except where required by law.

KIRAT shall not be liable for failed, rejected, unauthorized, or technically problematic transactions.

KIRAT reserves the right to suspend or terminate accounts for non-payment or suspicious transactions.

LIABILITY & DISCLAIMERS

Use of the Application is at your own risk.

KIRAT and its affiliates shall not be liable for direct, indirect, incidental, consequential, or special damages arising from use of the Application.

KIRAT makes no warranties regarding uninterrupted service, security, reliability, or accuracy.

Users agree to indemnify and hold harmless KIRAT from claims arising out of their use of the Application.

INTELLECTUAL PROPERTY RIGHTS (IP)

Users are not granted ownership rights or licenses to KIRAT intellectual property.

Users may not reproduce, copy, distribute, modify, or create derivative works without permission.

Users may not use trademarks or logos without written consent.

Users must not upload or share content violating intellectual property rights.

USE OF FUNDS

Funds paid to KIRAT for gold purchases are not held in escrow or custodial arrangements.

KIRAT may use, invest, or otherwise deal with such funds at its sole discretion.

Users are not entitled to profits, gains, or benefits derived from such use of funds.

GOVERNING LAW AND DISPUTE RESOLUTION

These Terms are governed by Lebanese law.

Disputes shall be settled by arbitration in accordance with the Rules of Arbitration of the Lebanese Arbitration and Mediation Centre of the Beirut and Mount-Lebanon Chamber of Commerce, Industry and Agriculture.

SEVERABILITY

If any provision of this Agreement is held unenforceable or invalid, the remaining provisions shall remain in full force and effect.

CONTACT INFORMATION

contact@kiratwallet.com

ACCEPTANCE OF TERMS

You acknowledge that you are using the platform at your sole discretion.

By accessing and utilizing the Services, you agree to be legally bound by the terms of this Agreement.

If you disagree with these Terms, you are not authorized to use the Services.

PRIVACY POLICY

Our application, website, and any of their related products and services might ask to use your personal data and information. Your personal data and information provided by you will be protected by KIRAT at all times during your use of the site, forum and applications and even when you stop using them since we believe strongly in fundamental privacy rights.

INFORMATION WE COLLECT

We gather data based on the information you furnish when registering with the platform. This includes, but is not limited to, details such as your name, email address, and other relevant personal information.

  • We may automatically collect data from your interactions within the KIRAT platform. For instance, when you participate in activities on the platform, when you contact us and others.
  • We also obtain data from external sources, including but not limited to payment service providers, bank account, credit or debit card details, e-wallet details. These providers share payment or balance information, as well as updates to such information, based on their relationship with you.
  • We may request access or permission to track location-based information from your mobile device, either continuously or while you are using our mobile application(s), to provide certain location-based services. If you wish to change our access or permissions, you may do so in your device's settings.
  • We may request access or permission to certain features from your mobile device, including your mobile device’s Bluetooth, calendar, camera, contacts, microphone, reminders, SMS messages, social media accounts, storage, and other features. If you wish to change our access or permissions, you may do so in your device's settings.

OUR RIGHT TO USE YOUR INFORMATION

Your information will never be disclosed to unauthorized parties. We utilize this information for several important purposes, including:

  • Preventing Fraud and Illegal Activities
  • Your provided information allows us to effectively communicate with you, addressing your inquiries, providing updates, and enhancing your overall experience within the platform.
  • Your data contributes to maintaining the security and integrity of our system, safeguarding against unauthorized access and potential threats.
  • We may use aggregated and anonymized data to improve our services, optimizing user experiences and app functionality.

COOKIES

"Cookies" are small text files stored on your device by the application or its associated websites when you use the service. They are used to collect and store information about your activities, preferences, and device, enabling us to enhance functionality, remember your settings, improve performance, and deliver personalized content. You can manage cookies through your device or browser settings; however, some features of the application may not function properly without them.