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Terms & Conditions

Enterprise service terms, System Wallet conditions, Tier-2 KYB obligations, and multi-branch liability framework across Nigerian commercial entities.

011. Agreement to Terms

These Master Terms and Conditions ("Terms" or "Agreement") constitute a legally binding contractual covenant executed between Kosten Technologies Nigeria Ltd (CAC RC: 1984210, hereinafter referred to as "Kosten", "we", "our", or "us") and the corporate subscriber or legal commercial entity ("Customer", "Enterprise", "you", or "User") identified in the subscription provisioning schedule.

By registering an administrative account, accessing the Kosten web console at app.kosten.com , provisioning multi-branch approval matrixes, establishing System Wallets, or transmitting queries against the Kosten REST APIs, you explicitly affirm that: branch approval matrixes, establishing System Wallets, or transmitting queries against the Kosten REST APIs, you explicitly affirm that:

Commercial Authority

You possess full corporate power, capacity, and requisite board authorization under the Companies and Allied Matters Act (CAMA 2020) to bind the enterprise to these terms.

Telemetry & NDPA Consent

You explicitly consent to our lawful processing of corporate expense telemetry, approver signatures, and employee personal identifiable information (PII) under the Nigeria Data Protection Act 2023.

022. The Service & Enterprise Scope

Kosten provisions a sovereign financial workflow orchestration and expenditure intelligence SaaS framework designed exclusively for multi-branch organizations in Nigeria. The service comprises four principal operating engines:

Expense Automation

Optical character recognition (OCR) capture, receipt deduplication, NGN petty-cash reconciliation, and category-level cost governance.

Dynamic Multi-Tier Approvals

Configurable 1-to-7 level governance pathways with automatic SLA escalations, dual-custody authorization for expenses exceeding ₦5,000,000.

Multi-Branch Treasury

Segregated cost-center tracking across regional subdivisions (e.g., Lagos, Port Harcourt, Abuja, Kano) under unified group headquarters controls.

Sub-Second Payout Execution

Automated electronic settlement rails connecting validated corporate approvals to NIBSS Instant Payments (NIP) via licensed clearing gateways.

Software Provider Status — Non-Bank Declaration

Int+ Technology Ltd or Kosten operates exclusively as an enterprise software platform, technical infrastructure vendor, and technology orchestrator. Kosten is NOT a Deposit Money Bank (DMB), microfinance bank, mortgage institution, or discount house registered under the Banks and Other Financial Institutions Act (BOFIA 2020).

033. Accounts & Multi-Branch Structure

Corporate onboarding requires verified validation of primary business credentials. You agree that access privileges and operational spending limits are subject to mandatory identity proofs and corporate governance checks.

Corporate Identity Verifiability

Subscriber must submit certified True Copies of CAC Form 1.1 / CAC Status Reports (showing RC/BN numbers).

Multi-Branch Liability & Spending Ceilings

Where an Enterprise delegates sub-entity budgets to regional operational hubs (e.g., Lagos HQ, Abuja CBD, Port Harcourt Base, Kano Hub), the parent subscriber retains plenary, strict, and undivided statutory liability for all drawdowns, overdrafts (if any), and approval signatures authorized by decentralized branch staff.

Credential Hygiene & Mandatory 2FA

All accounts assigned to Approver, Auditor, or Release roles must enforce hardware or software Time-based One-Time Passwords (TOTP) and cryptographic session signing. Kosten disclaims any liability for financial leaks arising from compromised employee passwords or unrevoked privileges for terminated personnel.

044. Subscriptions, Fees & Billing

Access to the software features is provisioned on a tiered subscription basis. All recurring fees, automated transaction tooling charges, and enterprise customization surcharges are quoted and payable exclusively in Nigerian Naira (NGN ₦).

TIER PLANBASE
SUBSCRIPTION		ANNUAL BILLING
(20% OFF)		APPROVER SEATSBATCH NIP FEE
Growth₦45,000
/ month		₦432,000
/ year		Up to 25 Users₦20 / transfer
Enterprise
Custom		Custom
Quotation		Bespoke
SLA Plan		Unlimited
/ Multi-Branch		Interbank
Negotiated

14-Day Arrears Grace Period

If auto-debit renewals fail, the account enters a 14-calendar-day grace period. During grace, expense approvals remain visible in read-only mode, but outgoing batch disbursements are temporarily suspended until settled.

Withholding Tax (WHT) & VAT

All platform fees are exclusive of 7.5% Value Added Tax (VAT). Invoices generate compliant FIRS-ready electronic e-invoices suitable for claiming allowable statutory input credits and Remita WHT credit notes.

CRITICAL OPERATIONAL CLAUSE

5. System Wallet & Tier-2 KYB Guardrails

Central Bank of Nigeria Aligned

The Kosten "System Wallet" module provisions automated internal ledger accounts that facilitate sub-second corporate disbursements. The utilization of the System Wallet is governed by rigorous financial compliance frameworks:

Mandatory Tier-2 KYB Requirement

To activate and load NGN funds into the System Wallet, every enterprise must successfully conclude Tier-2 Know Your Business (KYB) checks. This includes programmatic verification of Company Registration (CAC), and the automated biometric/BVN validation of at least two designated operating directors or signatories.

Custodial Trust Architecture

Pre-funded corporate wallet balances are maintained in segregated, unencumbered custodial trust accounts administered by licensed Nigerian commercial partner banks (including Providus Bank and Wema Bank Plc). All funds are strictly non interest-bearing and remain segregated from Kosten's operational assets at all times.

Non-Bank / Non-Insured Escrow

Kosten does not provide loan facilities, line-of-credit underwriting, or independent deposit insurance. Balances represent strictly operational working capital escrows dedicated solely to pre-authorized employee reimbursements, petty disbursements, and verified vendor invoices.

NUBAN Validation Responsibility

.Kosten provides automated NUBAN name inquiry services via NIBSS. However, the final authorizing Officer ("Releaser") bears sole statutory liability for matching vendor identity prior to release. Executed NIBSS NIP transactions are instantaneous and legally irrevocable.

CORPORATE PAYOUT PROTOCOL ARCHITECTURE

CBN-Regulated Custody

Enterprise deposits from commercial account via dedicated virtual NUBAN

Segregated Escrow

Corporate Bank Wire

Tier-1 DMB partner ring-fenced escrow account

Multi-Approver Sign-off Triggers NIBSS Instant Payout (NIP Execution < 2.0s SLA)

066. Acceptable Use & AML Directives

The platform is restricted solely to genuine corporate operations, employee business allowances, valid payroll sub-disbursements, logistics advances, and third-party vendor settlements. Any unauthorized usage constitutes immediate grounds for unilateral suspension and notification of statutory authorities.

Anti-Money Laundering (AML) & Combating Financing of Terrorism (CFT)

In accordance with the Money Laundering (Prevention and Prohibition) Act 2022 and Nigeria Financial Intelligence Unit (NFIU) guidelines, Kosten conducts real-time automated transaction monitoring. Any pattern indicating structuring, layering, unlicensed crypto-asset conversions, or beneficiaries flagged on the Consolidated United Nations/CBN sanctions lists will result in:

  • Immediate, automated algorithmic freezing of outgoing System Wallet releases;
  • Compulsory filing of a Suspicious Transaction Report (STR) to the NFIU and Special Control Unit Against Money Laundering (SCUML);
  • Transmission of audit logs, approver device IP telemetry, and CAC filings to regulatory bodies without prior notification to the Customer.

077. Limitation of Liability & Third-Party Outages

To the maximum extent permissible under applicable Nigerian laws, Kosten’s cumulative statutory liability is governed by strictly defined financial ceilings:

Liability Cap (3-Month Ceiling)

Kosten's total aggregate liability arising out of or related to this Agreement—whether in contract, tort (including negligence), or statutory indemnity—shall not exceed the total subscription software fees paid by the Customer in the three (3) calendar months immediately preceding the claim event.

Exclusion of Consequential Losses

In no event shall Kosten be liable for indirect, incidental, punitive, or consequential damages, loss of corporate business opportunities, commercial profits, or vendor liquidated damages resulting from processing downtime.

Third-Party Interbank Clearing Delays & Force Majeure

Kosten expressly excludes liability for payment disruptions or transmission delays occasioned by interbank settlement maintenance, NIBSS central switch downtimes, telecommunication carrier failures, subsea fiber cuts, or regulatory freeze orders issued by the Central Bank of Nigeria or Nigerian judicial authorities.

088. Governing Law & Dispute Resolution

This Agreement, and any non-contractual disputes or controversies arising hereunder, shall be construed, interpreted, and governed strictly in accordance with the laws of the Federal Republic of Nigeria.

1

Amicable Executive Conciliation (30 Days)

In the event of any corporate contention or operational dispute, the parties covenant to first commit the matter to good-faith executive conciliation between Kosten's Legal Counsel and the Enterprise’s Chief Financial Officer for thirty (30) business days from formal written notice.
2

Exclusive Judicial Forum

Where conciliation fails to yield resolution, all claims shall be submitted to the exclusive statutory jurisdiction of the High Court of Lagos State (Commercial Division) sitting in Lagos, Nigeria. The parties waive any claim of inconvenient forum.