1. These Terms and Conditions (the “Terms”) govern the use of the XtraFloat liquidity support initiative (“XtraFloat Service”) provided by MTN Mobile Money (U) Limited to its eligible Agent base. The XtraFloat Service is intended to ensure that MTN MoMo Customers have all round availability of Agent services.
2. The Terms become effective when you register for the XtraFloat Service and access the XtraFloat Menu on the System. By using or continuing to use the XtraFloat Service, You are considered to have read, understood and accepted these Terms and Conditions and to be legally bound by these Terms and Conditions.

In these Terms, the following words and expressions (save where the context requires otherwise) bear the following meanings:

1. “Agent Account” means a mobile money wallet maintained by MTN Mobile Money (U) Limited under the Agent’s name, representing electronic monetary value.
2. “Float Advance” means the amount of money disbursed to an eligible Agent in accordance with the Float Advance Limit.
3. “Float Advance Limit” means the maximum pre-approved amount available to an eligible Agent under the XtraFloat Service.
4. “MTN MoMo Agent” means a person that does cash in, cash out and assisted payments on the MTN Mobile Money (U) Limited platform on behalf of MTN MoMo Customers.
5. “E-money” means the electronic monetary value represented in an MTN Mobile Money account, equivalent to a specified cash amount.
6. “XtraFloat Service” means the internal liquidity support through which Agents can obtain float to serve MTN MoMo Customers once a Request is made through the MTN MoMo System using the code (*165*5*1#).
7. “System” means the electronic lending and communication platform used by MTN MoMo Limited to facilitate access to the XtraFloat Service.
8. “Repayment Date” means the date on which the XtraFloat is due for repayment by the Agent.
9. “Repayment Period”  means the 24 hour timeframe within which a Float Advance should be repaid.
10. “Request”  means an instruction submitted by an Agent to MTN MoMo for the Xtrafloat Service via the System.
11. “MTN MoMo” means MTN Mobile Money (U) Limited, a duly licensed digital payment service provider and payment service operator under the National Payment Systems Act Cap 59 whose Agents provide services to its customers.
12. MSISDN” means the unique Mobile Subscriber Integrated Service Digital Network Number issued to an MTN subscriber or agent and is used to identify the subscriber on MTN’s Network
13. “Network” means MTN Uganda Limited’s mobile cellular network
14. MTN MoMo Agent Data” means data relating to the Agent’s transactional activity and commission information within the  System.
15. MTN MoMo Customer” means any person registered to use the MTN MoMo System to send or receive money or make payments.
16. “Penalty Interest” means a charge of 1% applied for a maximum of 2 days for overdue Xtrafloat amounts.

• “Access Fees” means a flat fee charge of UGX 500 for a 24-hour request, calculated from the Xtrafloat disbursement date.

1. We”, “Our”, and “Us” or its variants means MTN MoMo and its partners with whom the Xtrafloat Service is provided and includes the successors and assigns of MTN MoMo and its partners. 
2. “You” or ” Your” or its variants means the Agent(s). Words importing the singular meaning where the context so admits include the plural meaning and vice versa. 

Headings in these Terms are for convenience purposes only, and they do not affect the interpretation of this Agreement.

By accepting these Terms, You are:

1. Accepting that MTN MoMo or its partners engaged in the provision of the Xtrafloat Service may conduct any Know Your Customer due diligence, identity confirmation, fraud and credit checks which it deems necessary on You and for this purpose, MTN MoMo or its partners engaged in the provision of the Service may seek confirmation of any details which You provide from any third party or government authority.
2. Accepting that MTN MoMo or its partners engaged in the provision of the Xtrafloat Service may record details of Your and transactional activities history using the Services (MTN MoMo Agent Data) and may share the same with any relevant government authority to the extent required.
3. You consent to MTN MoMo sharing your personal data including your MSISDN with its partners for whitelisting purposes.

1. By opting into the XtraFloat Service, you confirm that you are at least eighteen (18) years old and a registered and an active MTN MoMo  Agent for at least three (3) months immediately preceding the date of your Request.
2. Access to the XtraFloat Service shall be through the USSD-designated code or any other designated channel on the MTN MoMo System.
3. We reserve the right to verify the authenticity and status of your Agent Account and transactions and may decline your Request if we are not satisfied that You have met the above stated minimum requirements.
4. The XtraFloat Service is accessible at any time and has a 24 hour tenure.
5. The XtraFloat Service is provided in UGX (Uganda Shillings).
6. Any instructions for accessing or obtaining the XtraFloat Service made using your credentials shall be deemed to have been initiated and authorized by You.
7. You will be required to enter Your MTN MoMo PIN at all times before You make a Request or a repayment.

You will be charged the following fees when you apply for the XtraFloat Service:

1. Access Fee: A flat fee of UGX 500 for every Float Advance. This fee is  collected at disbursement.
2. Penalty Interest: A daily charge of 1% for a maximum of two (2) days after the Repayment Date for overdue Float Advances.

Without prejudice to MTN MoMo’s discretion in providing the XtraFloat Service, the availability of the XtraFloat Service is subject to the following conditions:

1. The Agent must meet the eligibility criteria stated under paragraph 4 above.
2. The Agent is responsible for settling all applicable fees and interest, including Penalty Interest, where applicable.
3. MTN MoMo is under no obligation to provide a reason for rejecting a Request.

1. You will be solely responsible for ensuring that the Float Advance is fully repaid in accordance with this clause 7.
2. An event of default occurs when You fail to pay any sum due to us under these terms within the Repayment Period.
3. Any amount not repaid by the Repayment Date shall accrue a penal interest of 1% (one percent) each day, charged for a maximum of 2 (two) days, after which the amount due will be auto collected from the Agent’s account.
4. The entire outstanding Float Advance including accrued interest, penal interest and any applicable fees or charges, shall become immediately due and payable upon default.
5. MTN MoMo shall deduct outstanding amounts directly from Your Agent Account including the commission account.
6. You may make early payments toward the Float Advance.  

MTN MoMo may at any time and upon notice combine or consolidate all or any of Your Agent Accounts regarding any Float Advance that has not been paid by the Repayment Date. You hereby expressly authorize MTN MoMo to combine, consolidate or offset any overdue Float Advance from your Agent Accounts.

You shall comply with all applicable laws, statutes, regulations, policies and procedures relating to and governing anti-bribery and anti-corruption including but not limited to the Anti-Corruption Act Cap 116, and MTN MoMo’s related policies and procedures. 

You should not engage in any activity, practice or conduct which would constitute an offence under the Anti-Corruption Act Cap 116 or policies. The Parties shall not, and shall procure that their employees, agents and sub-contractors shall not offer, solicit or accept an inducement/advantage in connection with the service under the contract.

These Terms are governed by the laws of Uganda and constitute the full agreement governing the relationship between Us regarding the XtraFloat Service.

We reserve the right to amend these Terms at any time. Notice of any amendments shall be communicated via our official channels and shall be binding upon You and Your  continued use of  the XtraFloat Service.

All Repayments are inclusive of any taxes payable by You. You hereby irrevocably grant us permission to revise the Access Fees and Penalty Interest upon any changes to taxes applicable.

1. Complaints shall be made by calling the helpline 100, WhatsApp 0772123100/0772122100, or 128 which is for MTN MoMo Agents support. Alternatively, you can visit any MTN shop.
2. We, on receiving a complaint, shall provide the complainant with a prompt acknowledgement within forty-eight (48) hours and resolve the complaint in seven (7) working days. For complaints not resolved within seven (7) working days, updates should be forwarded to the customer on the progress in resolving the complaint, once every seven days.

By offering my consent electronically through the MTN MoMo digital platform as I hereby apply for the XtraFloat Service, I have read, understood and/or had these terms and conditions explained to me independently.  I fully understand and agree to be bound by them and by any variations which may be made by MTN MoMo from time to time and updated on its website //www.mtn.co.ug/terms-and-conditions/. 

I hereby confirm that I have read and understood the Terms and agree to be bound and abide by the Terms.