Legal Documentation | product-terms

Last updated: 2026-06-02

These Product Terms for the Collections and Payout Services shall be supplemental to and read together with the Terms of Service and Additional Documents. The Product Terms, Terms of Service and Additional Documents constitute a legally binding agreement between you and FiveWest.
This version of the Product Terms for Collections and Payout Services shall replace and supersede any previous agreements between us with respect to the Collections and Payout Services that may have been accepted, or otherwise made available on, the Site or Portal. By utilising the Collections and Payout Services, you agree that you have read, understood and accepted the Product Terms and agree to be bound and act in accordance with them.
FiveWest may amend these Terms from time to time without providing prior notice. It is your responsibility to regularly check the Site or Portal to determine whether the Terms have been updated.
FiveWest will use reasonable efforts to notify you of any changes to the Terms that materially affect your rights and obligations; however, FiveWest cannot guarantee that such notification will be provided.
The continued use of the Collections and Payout Services after any amendment to the Terms constitutes your acceptance of such Terms as modified by such amendment. If you do not accept the Terms or any amendment thereof, you must immediately stop using the Collections and Payout Services and notify FiveWest accordingly.

Agency Consent: The Client appoints FiveWest as its agent solely for the purpose of receiving and processing payments on behalf of the Client.
Collection Process

FiveWest will collect ZAR payments from third parties on behalf of the Client into a designated FiveWest collection account.
Collected funds will be reflected on the FiveWest Portal and allocated in accordance with the Client's instructions.
The Client may elect for collected funds to be:

Following allocation or aggregation, the collected funds shall be converted into USDT or such other supported digital asset or currency as selected by the Client.
All collections are processed in South African Rand (ZAR) via EFT into a designated FiveWest bank account.

FiveWest will receive Crypto Assets from an international licensed financial institution.
Upon receipt of the Crypto Assets, FiveWest will execute a Crypto Asset to ZAR (Rand) trade and make payment into the recipient's approved bank account.

The licensed financial institution will maintain a pre-funded Crypto Asset float with FiveWest which can be utilised where FiveWest will conduct a Crypto Asset to ZAR (Rand) trade using the float and pay the recipient into their approved bank account in Zar (Rand).

Collections are processed via EFT into a designated FiveWest bank account.
Collection fees shall be charged in accordance with the applicable Fee Schedule communicated by FiveWest from time to time.

Payout fees shall be charged in accordance with the applicable Fee Schedule communicated by FiveWest from time to time.

All fees, charges and pricing terms set forth above are subject to change. FiveWest reserves the right to modify fees at its sole discretion, provided that the Client is given no less than 30 (thirty) days' prior written notice of any such changes. Continued use of the Services after the effective date of the revised fees shall constitute acceptance of the new fee structure. If the Client does not agree to the revised fees, the Client may terminate the agreement in accordance with the termination provisions set forth herein.

Comply with all API documentation, operational guides and integration procedures issued by FiveWest and its partners in order to have access to the Collections and Payout Services;
Ensure the transactions are lawful and not linked to any restricted or illegal goods or services;
Maintain all transaction records, customer communication and any other requested information;
Maintain all licences, authorisations or approvals required to have access to the Collections and/or Payout Services (if applicable);
Ensure that an AML Policy is maintained and the Client’s Customer’s identity is being verified in accordance with the AML Policy.
Ensure that FiveWest has an updated copy of the AML Policy.
Provide FiveWest with any transaction records, customer communications, customer Know Your Customer and any other requested information within 5 (five) days upon written request by FiveWest.

You acknowledge and agree that the use of the FiveWest Collections and Payout Services is entirely at your own risk, which risks you are aware of, and accordingly, you assume full responsibility and risk of loss resulting from or relating to such use of the Collections and Payout Services.
By utilising the FiveWest Collections and Payout Services, you indemnify FiveWest, its operating entities or any other affiliates (including their respective directors, members, employees or agents), to the maximum extent permitted by law, against any loss, liability, action, cost, claim, damages, proceedings or expense that you may suffer, directly or indirectly, in connection with the Collections and Payout Services and you accordingly waive any claim that you may have against FiveWest arising therefrom.
In no event shall FiveWest, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, delict or otherwise:

arising out of or in any way connected with your use of, inability to use, or unavailability of the FiveWest Collection and Settlement Service and/or your FiveWest Account;
arising out of or in any way connected to or resulting from any reliance upon any information received from FiveWest, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to FiveWest’s records, programmes or services;
as a result of an action or inaction caused by third utilised in the provision of the Services.

No liability or indemnification shall be extended in the event that FiveWest is deemed to have acted with gross negligence, fraudulently or willful misconduct.