User Agreement – Yay | Protecting your payment from scammers

YAY USER AGREEMENT & TERMS OF USAGE

THIS PLATFORM USER AGREEMENT (“THE AGREEMENT”) IS MADE BETWEEN:

(1) YAY Online Sdn Bhd (Company no: 1222028-P), a private limited company incorporated in Malaysia with a place of business registered at Pusat Perdagangan Puchong Prima, E-03-05, Block E, Jalan Prima 5/3, Taman Puchong Prima, 47100 Puchong, Selangor (“YAY”, “we”, “us”); and
(2) You, as the user of the Platform (as defined herein) who has indicated an intention to register as a user of the YAY and to utilise the Yay Services (as defined below)(“Platform User”, “Buyer”, “Seller”),

(each a “Party” and collectively the “Parties”)

Recitals

YAY is not a bank, a trustee or escrow agent with respect to your funds. We are an operator of the Platform.
Together with our Authorised Third Party Service Providers who have the requisite licence and approvals, YAY Services is offered on the Platform to facilitate the custody of funds on behalf of the Platform Users, of which these funds will be held in a registered escrow account and managed by a licensed Escrow Agent of YAY’s choosing.

1. Definition & Interpretation

1.1 Definition Account

Account	means the account set up by you as Platform User in the Platform to access and use YAY Services
Authorised Third Party Service Providers	means our authorised dealer banks, escrow agents, payment gateways and other service providers who have the requisite authority, licences and technical ability in working with us to provide YAY Services;
e-KYC	means the electronic know-your-customer processes of identifying and verifying the identity of the Platform Users on the Platform for the purposes of abiding by Anti-Money Laundering and Combating the Financing of Terrorism laws;
Escrow Account	means the account where Platform Users funds will be held in custody by the licensed Escrow Agent
Escrow Agent	means the licensed Trustee Company engaged by Yay to open and manage the Escrow Account
YAY Services	means the services provided on the Platform to facilitate online escrow payments for consumers and businesses.
Infringement	means any infringement of any of the Platform Documents;
Package Tracking Service	means the service to automatically track the delivery of goods sent by the Seller via courier services;
Payment Method	means the payment method used by the Buyer to fund a transaction. The following payment methods may be used to fund a transaction (subject to availability): online banking, credit card, debit card, cash deposit and cheque;
Platform	means the Website, Web App, iOS App and Android App maintained and operated by Yay Online Sdn Bhd userd to provide the Yay Service;
Platform Documents	means this Platform User Agreement & Privacy Notice
Personal Data Protection Policy	means the personal data protection notice available at this page;
Prohibited Transactions	means a trade or attempt to trade in any item, the dealing of which is prohibited or restricted in any manner under the provisions of Malaysian laws or any other laws, rule, regulation or guideline for the time being in force;
Transaction	means an online transaction created by the Platform Users with the intention to buy and sell any goods and/or services on the Platform;
Work Day	means Monday to Friday 9am to 5pm excluding public holidays prescribed to Wilayah Persekutuan Kuala Lumpur

2. THIS AGREEMENT

2.1 Status.

This Agreement is a binding contract between you and us, and it sets out your and our rights and obligations with respect to your use of the Platform. In utilising the Platforms and Yay Services, you are indicating that you agree to adhere to, and be bound by, all of the terms of this Agreement.

This Agreement is an important document which you must consider carefully when choosing whether to use the YAY Services. Please note the following risks of using the YAY Services:

Payments received by YAY from you may be transferred to the opposite party if you do not adhere to the guidelines and terms in this agreement in your Account may be reversed at a later time, for example, if a payment is subject to a Chargeback, Reversal, Claim or is otherwise invalidated. This means that a payment may be reversed from your Account after you have provided the sender the goods or services that were purchased.

2.2 Relationship to Other Agreements.

The information and terms of this Agreement are not exhaustive and there are other sources of information relating to these processes which can be found in other documents on the Platform. In particular, by using the Platform, you shall be deemed to have agreed to the Platform Documents. The terms of this Agreement will prevail over the terms of any agreement to which you agreed before this Agreement (including Platform Documents which may change from time to time).

2.3 Amendments.

We may choose to amend this Agreement from time to time. If we choose to amend the Agreement in a manner that affects any of your substantive rights, we will promptly notify you of the amendment. Such notification may occur by email, by notice to you when you log onto the Platform or by other means. If we provide you such notice and you do not object to an amendment by the means given in the notice prior to the amendment taking effect, you shall be deemed to have agreed to the amendment. If you object to an amendment, such amendment will not be effective with respect to you, but your rejection shall be deemed to constitute your notice of termination of your registration with us in accordance with clause 4.5 (Closing Your Account).

3. SERVICES LIMITATION

YAY is not a bank, a trustee or escrow agent with respect to your funds. The Platform maintained and operated by YAY is merely to connect the Platform User with our Authorised Third Party Service Providers, who are the true custodian to your funds. YAY does not have control of, nor liability for, the goods or services that are paid for with YAY services. We do not guarantee the identity of any Platform User or ensure that a Buyer or a Seller will complete a transaction.

4. REGISTRATION

4.1 Eligibility.

To be eligible to use YAY Services, you must be at least 18 years old and legally residing in Malaysia. 4.2 Your personal information

It is your responsibility to keep all of your personal information up to date, including but not limited to, your e-KYC details your primary email address, contact number, and bank account details so that YAY Services can be provided to you effectively and efficiently. You understand and agree that if the Transactions do not go through due to your negligence in updating your personal information on the Platform, YAY will not be responsible for verifying and ensuring the correctness of your personal information on the Platform and we will not be responsible for any damage, loss, claim, fine or other liability incurred by you. In the case of you not receiving any notice because your primary email address on file is incorrect, out of date, blocked by your service provider, YAY will be deemed to have provided notice to you effectively.

4.3 Data Protection

For your rights on data protection, please refer to our Personal Data Protection Policy at this page.

4.4 Sharing Information

You acknowledge and agree that YAY Services may share the information provided by you and the terms of the agreement between you and YAY with our Authorised Third Party Service Providers including our authorised dealer banks and escrow agent in order to enable them to conduct the requisite due diligence in accordance with their Know-Your-Customer (“KYC”) obligations or any legal authority or a court of law if required to do so.

4.5. Closing Your Account

You may close your Account by emailing us at ask@wp.trustyay.com. Upon requesting the closure of your account, we will cancel any pending transactions, provided always that no payments have been made for these pending transactions. If payment has been made for these pending transactions, you must first complete these transactions and only then will we close your account. Once all pending transactions have been completed or cancelled, this Agreement will be deemed terminated.

4.6 Know-Your-Customer (“KYC”) verifications

By registering for any of the YAY Services of Platforms, you hereby agree to be subjected to Know- Your-Customer verifications (“KYC”) in order to make or receive payments through YAY if necessary. This verification involves submitting a photo of your government issued identity document such as an identity card or passport and performing facial recognition tests. Yay reserves the right to perform further checks and verifications if necessary.

4.7 Source of funds

You hereby confirm that fund that you deposit into YAY are legitimately obtained and do not originate from, or are not associated with unlawful activity (which term is as defined in Anti-Money Laundering and Anti-Terrorism Financing laws of Malaysia). Yay reserves the right to cancel any Transaction, return any monies to the source and/or report the matter to the relevant authorities if YAY suspect’s funds for a Transaction has originated from dubious sources or which contravenes the Anti-Money Laundering and Anti-Terrorism Financing laws

5. RESTRICTION ON USE OF YAY SERVICE

5.1 You agree to use YAY Services solely for valid and lawful transactions and not use YAY Services to trade or attempt to trade in any item or service, whereby the dealing of which is prohibited or restricted in any manner under the provisions of Malaysian laws or any other laws, rule, regulation or guideline for the time being in force (“Prohibited Transactions”). YAY reserves the right to cancel any suspicious transactions and report such transactions to the relevant authorities.

5.2 Either Seller or Buyer may initiate a transaction using YAY Services however both parties must agree to use YAY Services by accepting the transaction. Before accepting the transaction, both parties are encouraged to provide detailed descriptions of the item and/or service that is being transacted to ensure that in the event the transaction is disputed or deemed suspicious, it can be resolved in the most efficient manner possible.

6. Terms of Payment

The Buyer shall be entitled to make payment for the Transaction pursuant to the various Payment Methods set out in the Platform. Yay utilises Authorised Third Party Service Providers to offer these Payment Methods and the terms and conditions applicable to each Payment Method as dictated by the Authorised Third Party Service Providers shall be applicable to this you as well. In addition, the following terms shall also apply to the following types of payment:

6.1 Credit card [and Debit Card]

Credit card and Debit card payment option may be available for all Buyers. Please note that additional charges may be incurred when using Credit card or Debit card to make your payment.

6.2 Cash deposit

If this option is offered on the Platform, the Buyer may also choose to deposit cash either through the cash deposit machine or over the counter as a Payment Method, however they are required to perform e-KYC to authenticate their identity in accordance with the instructions on the Platform. Payments made by cash deposit will have to be made through the account number assigned by Yay.

6.3 Payouts and Refunds

Payouts to Sellers in the event of a successful Transaction or refunds to Buyers in the event of a failed Transaction will be made by the Escrow Agent via Online Banking every Work Day at intervals as decided by the Escrow Agent. Payouts and refunds submitted to Yay on a weekend or submitted on a public holiday will be made the following working day. While YAY endeavours to release payouts and refunds within 36 working hours, YAY does not guarantee the timeliness of payouts and refunds.

6.4 Credit Card Chargebacks

A chargeback is the forced reversal of a transaction by the Buyer’s card issuer. Chargebacks are raised when YAY receives a notification from the Buyer's card issuer that a 'notice of dispute' has been issued by the Buyer to the Buyer’s card issuer. The Seller is responsible for all charge-backs as a result of disputes from the Buyer. The Seller is strongly advised to keep records of every sale and delivery invoices (up to 18 months) to be produced as proof in the event of contesting against the chargeback claim. YAY reserves the right to take legal action against the Buyer and/or Seller to claim back any losses due to the chargebacks.

6.5 YAY Services Fees

When you agree on the price and delivery method for your Transaction, you will also have the option to specify who pays the YAY Services Fees. You can choose that either the Buyer or Seller pays the full amount of the Yay Service Fee or that the Yay Service Fee is split equally between the Buyer and Seller. Once the Platform Users agree to the purchase price of the Transaction, the final total purchase price inclusive of the Service Fees will be calculated and shown on the Platform prior to any payment being made.

i) If the Buyer is paying for the full amount or half of the YAY Services Fees, then the Buyer would have to deposit the total purchase price plus the YAY Service Fees
ii) If the Seller is paying for the full amount or half of the YAY Services Fees, then the amount will be deducted from the total purchase price made by the Buyer to YAY before it is released to the Seller.
iii) In the event that the Seller agrees to pay the full or partial amount of the YAY Services Fees BUT the transaction is cancelled or fails to be completed after the Buyer deposits the funds, the full amount of the YAY Services Fees will be deducted from the amount deposited by the Buyer prior to the refund being made back to the Buyer.

Once payment has been made, the Yay Service Fees is non-refundable no matter what the outcome of the transaction is.

Yay reserves the right to change the Yay Service Fees at any time prior to payment being deposited into the Escrow Account for the Transaction. The latest YAY Service Fees can be found at this page.

7. LIABILITIES

7.1 YAY’s liability under or in connection with this Agreement shall be subject to the limitations set out in this clause 8 (Limitation of Liability)].

7.2 YAY shall be under no liability whatsoever where this arises from a reason beyond its reasonable control as provided in [clause 19.1 (Force Majeure)] or from an act or default of the Platform Users.

7.3 Time is of the Essence

In order to facilitate safe and timely Transactions on the Platform, YAY incorporates fixed time limits for Platform Users to perform actions necessary to complete a Transaction. Time of performance is essential to Transactions and Platform Users must adhere to these time limits, whereby if either of the Platform Users fail to respond to an action within the time limit stipulated, YAY reserves the right to automatically cancel the Transaction once the time limit lapses.

If a Transaction is cancelled prior to the delivery or performance of the item or service, the funds will be refunded back to the Buyer. However if the Transaction is cancelled after the delivery or performance of the item or service due to the failure of the Buyer to accept or reject the item orservice within the stipulated time limit, Yay reserves the right to remit payment to the Seller without the consent of the Buyer.

Yay reserves the right to change these actionable time limits at any time it deems necessary.

8. LIMITATION OF LIABILITY

IN NO EVENT SHALL WE, OUR PARENT, SUBSIDIARIES AND AFFILIATES, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES OR SUPPLIERS BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF DATA OR LOSS OF BUSINESS) ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, THE YAY SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE) UNLESS AND TO THE EXTENT PROHIBITED BY LAW OUR LIABILITY, AND THE LIABILITY OF OUR PARENT, SUBSIDAREIS AND AFFILIATES, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.

8.1 Delivery/Performance

Other than the obligations and liabilities to perform the YAY Services, the Platform Users agree that YAY will not be responsible for delivery or performance of the goods and/or services that are being transacted between the Platform Users or for the Platform Users failure to adhere to the timelines set when performing a Transaction. Yay shall also not be responsible for the failure of the Authorised Third Party Service Providers to perform their tasks in a timely manner.

For delivery Transactions, the risk of damage to or loss of the goods shall solely be on the Seller from the time of delivery up until the goods has been successfully accepted by the Buyer as indicated in the Package Tracking Service. Buyers are strongly recommended not to accept deliveries that appear to be damaged during transit and for the item to be returned by the delivery company to the Seller.

If a Buyer accepts the delivery however upon opening the package the item has been found to be damaged during delivery, the Buyer shall promptly open a dispute and request that an item be returned to the Seller. The onus shall be on the Seller to report the damage and make a claim to the delivery company for compensation. YAY strongly recommends that both parties purchase insurance for the delivery.

Delivery of the item must be made to the address that was specified by the Buyer and agreed upon during the Transaction creation process. The payment may be refunded to the Buyer if it has been proven that the Seller has delivered the item to an address that was not agreed upon. The Seller is strongly advised to keep all delivery records in the event of a dispute and to upload it on the YAY app as proof that delivery has been made to the Buyer at the agreed upon address.

8.2 Exclusion of liability

Other than the warranty, obligations and liabilities of YAY and the rights and remedies of the Platform Users set forth in this Agreement, the Platform Users hereby waives and releases all other warranties, obligations, representations or liabilities, express or implied, arising by law, in contract, civil liability or in tort, or otherwise, including but not limited to:

i) any implied warranty of merchantability or of fitness for a particular purpose of the goods and/or services;

ii) conditions to the good and/or services;

iii) any other obligation or liability on the part of the Platform Users to anyone of any nature whatsoever by reason of the design, manufacture, sale, repair, lease or use of the goods and/or quality of services delivered or rendered hereunder or otherwise;

iv) any defect arising from unsuitable or improper use, defective installation or commissioning by the Escrow Parties or third parties, fair wear and tear, wilful damage, negligence, abnormal working conditions, defective or negligent handling, improper maintenance, excessive load, unsuitable operating materials and replacement materials, poor work, unsuitable foundation, chemical, electrical/electronic or electric influences;

v) failure to follow YAY’s instructions (whether oral or in writing) in accordance with the Platform;

vi) your use of, or your inability to use, our websites, mobile apps, systems, networks and servers used to provide any of the Yay services, or any of the YAY services;

vii) delays or disruptions in our websites, mobile apps, systems, networks and servers used to provide any of the YAY services and any of the YAY services;

viii) viruses, trojans or other malicious software obtained by accessing our websites, mobile apps, systems, networks and servers used to provide any of the YAY services or any website or service linked to any of the YAY services;

ix) bugs, errors, or inaccuracies of any kind in our websites, mobile apps, systems, networks and servers used to provide any of the YAY services

x) the actions or inactions, failures and delays of YAY’s Authorised Third Party Service Providers;

xi) a cancellation or other action taken with respect to your Transactions;

xii) a suspension or other action taken with respect to your YAY user account;

xiii) the release or withholding of payment due to your actions or inactions when performing a Transaction

xiv) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or YAY’s policies.

xv) YAY shall not be liable for any direct, indirect, consequential, special, incidental and/or punitive damages of any kind of nature under any circumstances or, without limiting the foregoing, for loss or damages to the goods during the delivery, any lost profits or any other losses or damages for or arising out of any lack of loss of use of any goods and/or services purchased under the Platform for any reason.

8.3 Platform Users joint and several liability

Both the Buyer and the Seller shall be jointly and severally liable for any Infringement, Prohibited Transactions in using YAY Services on the Platform, with the intent that YAY shall be entitled to enforce any such liabilities against the Buyer and Seller jointly or against each such person without enforcing or seeking to enforce liability of all or any of such liabilities of the other person.

9. YAY’S DISCRETION PURSUANT TO WITHHOLDING PAYMENT, RELEASING PAYMENT, CANCELLATION OF TRANSACTION, TERMINATION OF SERVICES AND LIMITED ACCOUNT ACCESS

9.1 YAY, in its sole discretion, reserves the right to cancel the Transaction, withhold payment, release payment, rescind and/or terminate this Agreement and/or access to the YAY Services for any reason and at any time upon notice. If we limit or hold access to your Account, we will provide you with notice of our actions, and the opportunity to request restoration of access if, in our sole discretion, we deem it appropriate. Further, you acknowledge that YAY’s decision to take certain actions, including limiting and/or holding access to your Account, may be based on confidential criteria that is essential to our management of risk, the security of Platform User accounts and the YAY’s system. You agree that YAY is under no obligation to disclose the details of its risk management or its security procedures to you.

9.2 The Platform Users agree that YAY shall reserve the right to cancel the Transaction, withhold payment, release payment, rescind and/or terminate the Agreement without the consent of the Platform Users in the following circumstances:

i) the Transaction will automatically be cancelled when a Platform User fails to perform the required action in a Transaction within the time limit

ii) the payment will be released to the Seller where the Transaction is cancelled after the delivery or performance of the item or service due to the failure of the Buyer to accept orreject the item or service within the stipulated time limit.

iii) The payment will be released to the Buyer where the Buyer has paid the Transaction amount and the Seller has initiated the Package Tracking Services however the goods were damaged or loss at delivery before the goods are deemed received by the Buyer according to the Package Tracking Services.

iv) The payment will be withheld if the Platform User receiving the payment has not performed the necessary KYC verification or if the KYC verification fails.

v) The payment will be withheld if a dispute has been raised and the payment will be releasedonce the dispute has been resolved amicably or through a third party. Proof of disputeresolution may be required in order to release the payment to the rightful beneficiary.

vi) The payment will be withheld and Transaction may be cancelled if any of of YAY’s Authorized Third Party Service Providers or a legal authority raises reasonable doubt on the legality of the payment, identity of the Platform User and/or purpose of the transaction.

vii) The Transaction will be cancelled and any payment will be released back to the Buyer if the Seller is in breach of this agreement

viii) The payment will be withheld if the name captured during the KYC verification does not match the name of the bank account holder.

ix) The payment may be refunded to the Buyer if the Seller delivers the item to an address that is different than the address keyed in by the Buyer and agreed upon in the Transaction creation process unless the Seller can prove that the Buyer has instructed the Seller to do otherwise.

x) Yay does not entertain Buyer’s remorse and if the Buyer raises a dispute but the item is proven to be as described and agreed upon in the Transaction creation, payment may be released to the Seller.

9.3 YAY shall not be responsible to resolve or take any action on all other disputes that may arise between the Buyer and the Seller.

10. DISPUTE RESOLUTION WITH YAY

10.1 If a dispute arises between you and YAY, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost effective means of resolving the dispute quickly. On disputes between you and YAY regarding the YAY Services, please contact us at this page.

11. DISPUTE RESOLUTION BETWEEN THE PLATFORM USERS

11.1 If a dispute other than the dispute stated in [clause 10.1] above is raised, YAY will have the right to withhold such payment in accordance with [clause 9.1] until the dispute between the Escrow Parties is resolved either through mutual agreement or through legal means.

11.2 The Escrow Parties are required to use YAY’s self-help dispute resolution process in the Platform to resolve any disputes that may have arisen due to the Transaction. If Escrow Parties do not resolve the dispute on YAY’s self-help dispute resolution process then both parties will have to seek redress on their own accord and inform YAY that the dispute has been escalated through the YAY Platform. YAY will only be involved thereafter if

i) so compelled by a statutory obligation, legal entity and/or the relevant enforcement authorities or;

ii) BOTH Escrow Parties come to an agreement on who the rightful beneficiary of thepayment is and how the payment should be disbursed.

All requests for payments made pursuant to the resolution of a dispute must be accompanied by official documentation from the legal entity and/or enforcement authority and/or a letter of release from both Escrow Parties.

If either of the Escrow Parties fails to adhere to the time limits set to perform an action during the self-help dispute, YAY reserves the right to cancel the dispute and release the payment to the opposite party.

If YAY believes that either of the Escrow Parties have not provided enough evidence or justification that he or she should be the rightful beneficiary of the payment, YAY reserves the right to release the payment to the party that has furnished the most proper evidence.

12. NO WARRANTIES

No Warranty

12.1 YAY Services are provided “as is” and without any representation of warranty, whether express, implied or statutory. YAY, our officers, directors, agents, employees, suppliers, third party providers specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement.

12.2 YAY does not have any control over, and are not responsible or liable for, the products or services that are paid for with our YAY Services. We cannot ensure that a buyer or a Seller you are dealing with will actually complete the transaction or is authorised to do so.

12.3 YAY does not guarantee continuous, uninterrupted or secure access to any part of the YAY Services, and operation of our site may be temporarily suspended for maintenance or upgrade or interfered with by numerous factors outside of our control. YAY will make reasonable efforts to ensure that requests for debits and credits involving bank accounts, credit cards, and check issuances are processed in a timely manner but YAY makes no representations or warranties regarding the amount of time needed to complete processing because the YAY Services are dependent upon many factors outside of our control, such as delays in the banking system or tracking services.

13. INDEMNITIES

13.1 You agree to defend, indemnify and hold YAY, our officers, directors, agents, joint ventures, employees and suppliers harmless from any claim, demand (including attorney’s fees), fine, or other liability incurred by any third party due to or arising out of your or your employees’ or agents’ breach of this Agreement, improper use of YAY Services and/or violation of any law. The indemnity herein shall survive the termination or expiry of this Agreement.

14. INTELLECTUAL PROPERTY

14.1 All intellectual property rights, whether registered or unregistered, in the Platform, information content on the Platform and all the website design, Web App, iOS App and Android App design including, but not limited to, text, graphics, software, photos, video, music, sound, and their selection and arrangement, and all software compilations, underlying source code and software shall remain our property. The entire contents of the Site also are protected by copyright as a collective work under Malaysia copyright laws and international conventions. All rights are reserved.

15. GOVERNING LAW AND JURISDICTION

15.1 This Agreement shall be governed by and construed in accordance with the laws of Malaysia and each Party agrees to submit to the no-exclusive jurisdiction of the courts of Malaysia.

16. NOTICES

16.1 Any notice given pursuant to this Agreement shall either be in writing via email [sent to ask@wp.trustyay.com] or in writing to our registered address.

17. ASSIGNMENT

17.1 You may not transfer or assign any rights or obligations you have under this Agreement without YAY’s written consent. YAY reserves the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time.

18. WAIVERS

18.1 The failure or delay of YAY to enforce any right under this Agreement will not constitute a waiver of that right, or of damages caused thereby, or of any other rights under this Agreement.

19. FORCE MAJEURE

19.1 YAY shall not be liable to the Platform Users or be deemed to be in breach of this Agreement by reason of any delay in performing or any failure to perform any of YAY’s obligations if the delay or failure was due to any cause beyond YAY’s reasonable control. Without prejudice to the generality of the foregoing the following shall be regarded as causes beyond YAY’s reasonable control:

i) Act of God, explosion, flood, tempest, fire or accident;

ii) war or threat of war, sabotage, insurrection, civil disturbance or requisition;

iii) acts of restrictions, regulations, bye-laws, prohibitions or measures of any kind on the part of any governmental parliamentary or local authority;

iv) import or export regulations or embargoes;

v) interruption of traffic, strikes, lock-outs, other industrial actions or trade disputes (whether involving employees of YAY or of a third party);

vi) interruption in the services of our Authorised Third Party Service Providers due to force majeure;

vii) system failure, power failure or breakdown in machinery; and

viii) cyber attacks, hacking, and malware that amounts to an intrusion and malfunction of YAY’s Platform.

19.2 Upon the happening of any one of the events set out above, YAY may at its option:-

i) fully or partially suspend delivery/performance while such event or circumstances continues;

ii) terminate any Agreement so affected with immediate effect by written notice to the Platform Users and YAY shall not be liable for any loss or damage suffered by the Platform Users as a result thereof.

20. Insurance

20.1 Each Platform User is advised to obtain and maintain their own cost and expense of a product liability insurance providing protection against any and all claims, demands and causes of action arising out of any defects, alleged or otherwise, of the goods or its use, design, labelling, or manufacture, or any material incorporated in the goods and/or quality of services delivered or rendered.