Terms & Conditions
Afkar Al Zaman General Trading L.L.C., doing business as Ventum ME (“Ventum”), located at 2405 Smart Heights, Barsha Heights, Dubai, United Arab Emirates, with company trade license number 729847 provides customers a Buy Now Pay Later (BNPL) service. By using the services of Ventum and purchasing Ventum products, you agree to be bound by these terms. You should read these terms carefully before using the services and determine whether the terms and services are appropriate to you given your personal or financial circumstances. You should print a copy of these terms for your records. If you do not agree with these terms, or the terms and services are not appropriate given your personal or financial circumstances, you should cease use of the services immediately. We reserve the right to change these terms at any time without notice to you by updating our website to incorporate any new or amended terms. Any amendments to the terms will not alter the terms applicable to any purchase made using our services prior to the publication date of any new or amended terms unless we give you prior written notice. You are responsible for regularly reviewing information posted on our website to obtain timely notice of amendments to these terms. Your continued use of the services after amendments to these terms are published constitutes your acceptance of the amended terms.
- The services
1.1 If you have applied for BNPL with us, we will request a copy of your full credit report from Al Etihad Credit Bureau, Emirates ID, passport and visa in order to complete the approval process. For every new order, the approval process will repeat each time to evaluate the credit worthiness at the time of request.
1.2 This application will not immediately result in an agreement between you and us that you can pay via our BNPL service. Our approval of your application will be subject to our review of your submitted data and circumstances. We explicitly reserve the right to decline your application without giving reasons for doing so.
1.3 Our BNPL services will only be available based on the eligibility of the person after assessment of the submitted documents. Whether you are eligible to use our BNPL services will be determined by us at our discretion at the time of an attempted purchase, and may depend on such factors including but not limited to our assessment of your creditworthiness, your history of transactions, or any other reason and you satisfying the following criteria:
- you are living in the UAE and have a permanent residential address;
- you are 18 years of age or older;
- you have an active email account registered in your name;
- you have an active mobile phone number registered in your name;
- you have provided all your information and documentation requested by us; and
- you declare that any payment obligations arising from your purchase will be met by you pursuant to the payment terms agreed at the time of purchase.
- Information provided by you
2.1 You agree that when you provide information to us, you will only and at all times provide true, accurate, current and complete information, and you agree not to misrepresent your identity or any of your account information or related details.
2.2 You further agree to keep your account information up to date and accurate. You represent that any residential address, email address or mobile phone number that you provide to us is current and belongs to you. You must notify us promptly when you change your residential address, email address, or mobile phone number.
- Payment options
3.1 Before completing any transaction on your behalf through the services, we will secure your promise to pay by disclosing these terms and any specific terms applicable to that transaction, and securing your affirmative consent to the terms for that transaction, including your promise to pay the total amount to us or our assigns, by asking you to accept or sign these Terms & Conditions, which indicates that you do accept the terms and your obligation to pay in accordance with the terms, including any fees and any other transactions charged to your account.
3.2 You acknowledge that a down payment of 50% of the purchase price will be required upon applying for the BNPL program at the Ventum website check out. The second installment of 25% of the purchase price will be due 30 days after the first payment, and the third installment of 25% of the purchase price will be due 60 days after the first payment. We may not issue you notices or reminders of any upcoming payment dates. The payment instruction for the second and third installments will be sent to your email address.
3.3 You may at any time pay, in whole or in part, the total unpaid balance without any additional charge for prepayment.
4.1 Cancellation. If you decide to return the products within the allowed return period of 30 days from the date of purchase, then you may return products and be issued a refund for the deposit amount, provided that you follow Ventum’s return policy on the website.
4.2 Default. Subject to applicable law, which may require that we notify and/or give you a right to cure your default, we may declare you in default for any of the following reasons: (1) you fail to pay any Installment by the due date, and after any applicable grace period; (2) you violate any promise you make to us which significantly impairs your ability to pay or our ability to collect the amounts due under this Agreement; (3) you revoke your consent to electronic communications; or (4) you die or become legally incompetent. If you are in default, we can require you to pay the remaining amount you owe us at once, subject to any right you may have to notice of default and to cure such default.
4.3 Late Payment. In case of late payment, you are obligated to pay 2% + VAT of your overdue amount with a minimum of AED 20 + VAT for every month you miss a payment, or the maximum amount or percentage allowed under applicable laws, whichever is higher.
4.4 Non Payment. If the customer has not paid the due amount along with the overdue charges within seven (7) days from the last installment due date, COMPANY has the option to treat such failure to pay as a material breach of this Agreement and may cancel this Agreement and/or seek legal remedies including referring your account for collection to an attorney or collection agency. We may initiate debt collection procedures and incur (extra-judicial) costs to recover the amount due.
4.5 We can additionally require immediate payment of your total outstanding balance and, unless prohibited by applicable law, we can also require you to pay the costs we incur in any collection proceeding, as well as reasonable attorneys' fees if we refer your account for collection to an attorney or collection agency.
- Our Rights
5.1 We may set a total purchase limit for you on the number of products you may purchase with our BNPL services.
5.2 We may deny any transactions for any reason at our discretion. We are not liable for any refusal to honour a transaction.
5.3 We may at any time, and without notice to you, sell, assign, or transfer your account, any amounts due on your account, your contract with us, or our rights or obligations under your account or these terms to any person or entity. The person or entity to whom we make any such sale, assignment or transfer shall be entitled to all our rights and shall assume our obligations under these terms, to the extent sold, assigned or transferred.
- Dispute Rights
- Data Protection
7.1 We understand and appreciate the trust given by you to handle your personal data. We are fully committed to protect your privacy.
7.2 In order to deliver certain functions as part of the services, we will need to record your name, national ID number and any other details on such ID, date of birth, email address, address, telephone number and details around the payments due by you to us.
7.3 We process your personal data for the following purposes:
- to confirm your identity;
- to send you an invoice via email, text message or push notification;
- to facilitate the payment via bank transfer, direct debit or any other payment method chosen by you;
- for marketing and business development purposes; and
- to administer payments received and to send reminders for non-received payments; and
- to engage debt collection agencies in case of non-payments.
- Disclaimer and Liability
8.1 To the extent permitted by law, you indemnify and release us, our officers, employees and agents from and against all actions, claims (actual or threatened), proceedings (including proceedings where we are joined pursuant to any proportionate liability regime) or demands (including any costs and expenses in defending or servicing same) which may be brought against us, in respect of any loss (including any indirect or consequential loss, loss of opportunity, loss of revenue, loss of profit, loss of reputation), death, injury, illness or damage to persons or property, and whether direct or indirect and in respect of any breach of any industrial or intellectual property rights, howsoever arising out of the use of, reliance on, or benefit of, the goods purchased from us.
8.2 To the full extent permitted by law, we exclude all warranties, terms, conditions, or undertakings not stated in these terms, whether expressed or implied, in relation to our products or services (Implied Terms). Where any law implies any Implied Terms into these terms that cannot be modified or excluded, then such Implied Terms will deem to be included. However, to the full extent permitted by law, our liability to you or any third party for any breach of any Implied Terms that cannot be excluded by law, is limited to an amount equal to your transaction amount with Ventum.
- Term and Termination
9.1 These terms represent an agreement you have with us for an indefinite period of time. These terms apply (as amended from time to time) until the agreement is terminated by you or us and can be terminated at any time.
9.2 You can terminate the agreement at anytime. Your notice of cancellation must be sent to us via e-mail to our customer support. If you owe us any amounts for transactions when this agreement terminates, you must pay that amount in full on or before the date of termination.
10.1 The provision of the services and all contracts concluded by us are governed by the laws of the Dubai International Financial Centre.
10.2 You irrevocably agree that the competent courts of the Dubai International Financial Centre shall have non-exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with the provision of the services and contracts concluded by us.
10.3 These terms contain all the terms agreed between us and you regarding their subject matter and supersedes and excludes any prior terms and conditions, understanding or arrangement between us and you, whether oral or in writing.
10.4 If any of these terms should be determined to be illegal, invalid, or otherwise unenforceable by reason of the laws of any state or country in which these terms are intended to be effective, then to the extent and within the jurisdiction which that term is illegal, invalid or unenforceable, it shall be severed and deleted and the remaining terms shall survive, remain in full force and effect and continue to be binding and enforceable.
10.5 Our failure or delay in exercising any of our rights under this Agreement does not mean that we are unable to exercise those rights later.
For more details & questions, please contact customer service at firstname.lastname@example.org.