Legal Document
PAYMENT POLICY
PAYMENT POLICY NEXT GENETICS PLATFORM --- 1. INTRODUCTION 1.1 This Payment Policy governs all payments made on the NEXT GENetics Platform (“Platform”). 1.2 By using the Platform, Users agree to this Payment Policy. --- 2. PAYMENT PROVIDERS 2.1 Payments on the Platform are processed through third-party providers, including: * PayFast * Ozow 2.2 These providers operate independently and are subject to their own: * Terms and Conditions * Security protocols * Compliance requirements 2.3 By making payments, Users agree to be bound by the terms of these providers. --- 3. ROLE OF THE PLATFORM 3.1 The Platform acts solely as a **payment facilitator** between Buyers and Sellers. 3.2 The Platform is NOT: * A bank * A financial institution * A payment service provider 3.3 The Platform does not: * Hold deposits as a regulated financial entity * Provide financial services or advice --- 4. PAYMENT METHODS 4.1 Payments may be made using: * Card payments (via PayFast) * Instant EFT (via Ozow) * Any other approved methods introduced by the Platform 4.2 Available payment methods may change at any time. --- 5. PAYMENT PROCESS 5.1 The Buyer initiates payment through the Platform. 5.2 Upon successful payment: * The transaction is recorded * Funds may be placed into escrow (as per Escrow Policy) 5.3 The Platform may apply automated processing rules. --- 6. COMMISSION 6.1 Commission is: * Payable by the Seller * Automatically deducted from transaction proceeds 6.2 Commission is: * Non-refundable * Exclusive of VAT unless legally required --- 7. VAT HANDLING 7.1 Sellers are responsible for: * VAT registration * VAT calculation on goods sold 7.2 VAT is applied: * On the product or service sold * Not on Platform commission unless required by law 7.3 The Platform is not responsible for tax compliance. --- 8. ESCROW AND FUND HOLDING 8.1 Funds may be held temporarily in accordance with the Escrow Policy. 8.2 Escrow is used to: * Facilitate secure transactions * Reduce risk of non-delivery or non-payment 8.3 Release of funds is subject to: * Delivery confirmation * Time-based rules * Dispute resolution processes --- 9. PAYMENT FAILURES 9.1 The Platform is not liable for: * Payment failures * Bank errors * Provider outages 9.2 In the event of failed payments: * Transactions may be cancelled * Users may retry payment --- 10. CHARGEBACKS AND REVERSALS 10.1 Buyers may initiate chargebacks through their payment provider. 10.2 The Platform is not responsible for: * Chargeback decisions * Bank or provider actions 10.3 The Platform may: * Recover funds from Sellers * Suspend accounts * Withhold funds --- 11. REFUNDS 11.1 Refunds are governed by: * The Refund Policy * Agreements between Buyer and Seller 11.2 The Platform is not obligated to issue refunds unless required by law. --- 12. FRAUD AND SECURITY 12.1 The Platform may: * Monitor payment activity * Flag suspicious transactions 12.2 In cases of suspected fraud: * Payments may be blocked * Funds may be withheld * Accounts may be suspended --- 13. THIRD-PARTY LIABILITY 13.1 The Platform is not liable for: * Actions or omissions of PayFast or Ozow * Payment processing delays * Security breaches at provider level 13.2 Users acknowledge that payment providers operate independently. --- 14. USER RESPONSIBILITIES Users must: 14.1 Provide accurate payment information 14.2 Use payment methods lawfully 14.3 Not engage in: * Fraud * Payment abuse * Chargeback misuse --- 15. LIMITATION OF LIABILITY 15.1 To the maximum extent permitted by law, the Platform shall NOT be liable for: * Loss of funds * Payment delays * Failed transactions * Indirect or consequential damages --- 16. INDEMNITY 16.1 Users indemnify NEXT GENetics against: * Payment disputes * Fraud claims * Chargebacks * Third-party claims --- 17. FORCE MAJEURE The Platform is not liable for payment failures caused by: * Network issues * Banking system failures * Provider outages --- 18. AMENDMENTS 18.1 This Policy may be updated at any time. 18.2 Continued use constitutes acceptance of changes. --- 19. GOVERNING LAW This Policy is governed by the laws of the Republic of South Africa. --- 20. CONTACT DETAILS NEXT GENETICS DORPERS (PTY) LTD 2026/181336/07 250 Milner Street, Waterkloof, Pretoria, Gauteng, 0181 info@nextgeneticsza.co.za --- END OF DOCUMENT