Advance Card Terms and Conditions

Effective from
September 27, 2022

Advance Card Terms and Conditions

Effective from
September 27, 2022

1. INTRODUCTION

1.1 This Agreement sets out the terms and conditions applicable to the Advance Line, the Advance Account and the Advance Card (each as defined below). Please read them carefully.

1.2 The Advance Card is a debit card powered and issued by NIUM Pte. Ltd. ("NIUM"). NIUM is regulated by the Monetary Authority of Singapore under RA No.01454 and is a major payment institution under the Payment Services Act No. 2 of 2019.

1.3 The parties to this Agreement are

(i) the Cardmember (as defined below),

(ii) AFTSG (as the party extending the Advance Line to the Cardmember, and as defined below), and

(iii) Aspire (as the platform provider).

1.4 The Cardmember accepts the terms and conditions of the Agreement when it applies for, retains or uses, or allows a Cardholder to retain or use, the Advance Line, the Advance Account and/or the Advance Card.

1.5 Each of Aspire and AFTSG may amend, supplement, delete and/or revise any part of this Agreement at any time with notice (by publication thereof on the Platform or by any other means or manner as Aspire or AFTSG may select), and such changes shall take effect on the date specified in the notice. The Cardmember’s or the Cardholder’s continued use of the Advance Line, the Advance Account and/or the Advance Card after any such changes shall constitute consent and acceptance of the revised Agreement.

1.6 Consumer advisory: Aspire FT Pte Ltd ("Aspire") is currently exempted from holding a licence under the Payment Services Act for the provision of Account Issuance Service, Domestic Money Transfer Service, and E-money Issuance Service for a specified period. This can be confirmed on the MAS website here.

2 DEFINITIONS AND INTERPRETATION

2.1 In this Agreement:

2.1.1 “Account” means the Cardmember’s virtual debit account maintained with Aspire, if any;

2.1.2 “Advance Account” means the account in respect of the Advance Line that AFTSG extends to the Cardmember;

2.1.3 “Advance Account Limit” means the maximum spending limit of the Advance Account, as further detailed in Clause 6 (Advance Account Limits and Transaction Limits);

2.1.4 “Advance Account Statement” means any invoice, debit note or statement issued by or on behalf of AFTSG in respect of the Advance Account setting out, among other things, the amount payable, the payment due date and the payment account details. Such invoice, debit note or statement may take any form (including but not limited to electronic form and/or such other channel(s) as AFTSG may determine) and may be constituted by data stored in any electronic medium or system and transmitted through any computer system or facsimile machine;

2.1.5 “Advance Card” means the Aspire corporate debit card, virtual or physical, powered and issued by NIUM and any substitution, replacement or renewal thereof;

2.1.6 “Advance Line” means the advance line that AFTSG may extend to the Cardmember from time to time, in such amount and currency and on such terms and subject to such conditions as AFTSG may determine in its sole discretion;

2.1.7 “Advance Transfer” means a transfer of such amount of the available Advance Account Limit or any part thereof to such recipient as may be requested by the Cardmember;

2.1.8 “Advance Transfer Fee” means 2% of the amount of the Advance Transfer;

2.1.9 “AFTSG” means A.F.T. SG Pte. Ltd. (formerly known as Aspire Financial Technologies Pte. Ltd.), its successors and assigns;

2.1.10 “Agreement” means these terms and conditions and any application forms, user guidelines, promotional terms and conditions, policies and any other document relating to the foregoing or forming our agreement, as may be amended and/or supplemented from time to time;

2.1.11 “Aspire” means Aspire FT Pte. Ltd., its successors and assigns;

2.1.12 “Aspire Group” means Aspire, AFTSG and each of their related corporations, including their subsidiaries, holding company and the holding company’s subsidiaries (in each case wheresoever situated);

2.1.13 “ATM” means automatic teller machine or cashpoint facility or cash dispenser;

2.1.14 “Authority” means any government, quasi government, administrative, regulatory or supervisory body or authority, court or tribunal with jurisdiction over Aspire, AFTSG or their respective subsidiaries, holding company, affiliates or other related entities;

2.1.15 “Card Transaction” means a payment (whether for goods or services or of charges incurred or otherwise) or ATM withdrawal or transfer effected through the Advance Card;

2.1.16 "Cardholder”, in relation to any Advance Card, means the person to whom the Advance Card is issued on the application or request of the Cardmember;

2.1.17 “Cardmember” means the corporation, firm or entity which is the applicant for any Advance Card;

2.1.18 “CVC” means card verification code or card verification value;

2.1.19 “Finance Charge” means, in relation to any outstanding amount due, 2% on such amount;

2.1.20 “Foreign Currency” has the meaning given to it in Clause 8;

2.1.21 “Network” means a major national or international network or association such as American Express, Mastercard, Visa, RuPay, JCB, Discover, UnionPay or any other global or local network or association that Aspire and/or NIUM may work with from time to time to enable the use of the Advance Card;

2.1.22 “NIUM” means NIUM Pte. Ltd., its successors and assigns;

2.1.23 “PIN” means any personal identification number, password, login identification number, customer identification number, electronic identification signatures or codes chosen by or issued to the Cardmember or Cardholder (as applicable) for the purposes of operating the Advance Card;

2.1.24 “Platform” means the electronic platform available at https://aspireapp.com (or such sub-domain or additional or replacement website(s)) and includes any mobile or desktop application through which the electronic platform may be accessed;

2.1.25 “Point of Sale Transaction” means a transaction carried out at a merchant’s point of sale terminal; and

2.1.26 “Single Transaction Limit” has the meaning given to it in Clause 6.

2.2 Words importing the singular include the plural and vice versa.

2.3 Words referring to the masculine also refer to the feminine and neuter genders.

2.4 Reference to a person includes references to a company, association or institution.

2.5 Reference to a Clause is to a clause of this Agreement.

2.6 Reference to “law” includes any statute, common law, principles of equity, order, regulation, rule, official directive, request, guideline, sanction, embargo or restrictive measure (whether or not having the force of law) of any Authority, any agreement with the Authority, and any interpretation, application, replacement, amendment or enforcement of such law.

2.7 Unless a contrary indication appears, a reference to a party or a person will be construed as including its subsequent successors in title, permitted transferees and assigns, in each case in accordance with their respective interests.

2.8 Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.

2.9 The headings to the Clauses are for reference only and are not intended to be taken into consideration in the interpretation of this Agreement.

3 ISSUANCE AND ACTIVATION OF THE ADVANCE CARD

3.1 The Cardmember may apply for Advance Cards for Cardholders via the Platform. If the Cardmember makes an application for a physical Advance Card, Aspire will send the Advance Card to such address as notified by the Cardmember to Aspire.

3.2 If the Cardmember makes an application for a virtual Advance Card, Aspire will issue the Advance Card virtually.

3.3 The Cardmember and Cardholder must follow Aspire’s Advance Card activation procedures in order to use the Advance Card.

4 USE OF THE ASPIRE ADVANCE CARD

4.1 The Advance Card is a corporate card which the Cardholder may use to make payments, effect ATM withdrawals in certain countries, and purchase goods and services related to the Cardmember’s business and operations.

4.2 The Advance Card is not a guarantee card, charge card or credit card, and is not for personal use.

4.3 The Advance Card may be used to carry out Point of Sale Transactions at point of sale terminals and at such other physical readers or systems as Aspire may approve from time-to-time.

4.4 The Cardholder’s signature, PIN, or other authentication on the Cardholder’s part may be required for each Point of Sale Transaction.

4.5 Cardmember is liable for all Point of Sale Transactions incurred on the Advance Card regardless of whether the Point of Sale Transactions were properly authorised by the Cardmember or the Cardholder. The Cardmember and the Cardholder acknowledge the ease of which unauthorised Point of Sale Transactions may be carried out and accept the risk of unauthorised Point of Sale Transactions.

4.6 The Cardmember and the Cardholder only, and no one else, may use the Advance Card to effect transactions on the Advance Card, subject to the terms and conditions of this Agreement.The Advance Card remains the property of NIUM at all times.

4.7 Aspire reserves the right to terminate, suspend or restrict the Advance Card, the Account and/or PIN without any reason or notice. Aspire may terminate, suspend or restrict the Advance Card, the Account and/or PIN on grounds relating (but not limited) to any of the following:

4.7.1 the security of the Advance Card and/or Account;

4.7.2 the suspected unauthorized or fraudulent use of the Advance Card or PIN; and/or

4.7.3 to ensure that Aspire, AFTSG, NIUM, the relevant Network and/or their respective partners and affiliates are in compliance with all applicable laws and regulations or any judgment or order of any court or Authority.

4.8      Aspire may, independently or in partnership with third parties, provide additional services in connection with the use of the Advance Card. Such services may be provided on such additional terms and conditions that Aspire and/or such third parties may notify the Cardmember and/or Cardholder from time to time. Such additional services may be withdrawn or modified from time to time. The Cardmember and Cardholder are deemed to have accepted the terms and conditions governing these additional services if the Cardmember or any Cardholder applies for or use such services.

5 TRANSACTIONS: ADVANCE CARD TRANSACTIONS AND ADVANCE TRANSFERS

5.1 The Cardmember and Cardholder acknowledge and agree that the Cardholder’s use of the Advance Card, the Advance Card number or PIN
constitutes the Cardholder’s authorisation and consent to a payment transaction or ATM withdrawal (as applicable).

5.2 The Cardmember and Cardholder may access information about the Advance Card and transaction history via the Platform.

5.3 A transaction made on the Advance Card cannot be stopped after it has been transmitted or once the Cardmember or Cardholder has given consent to a merchant for a pre-authorised payment.

5.4 Aspire may refuse to authorise any Advance Card transaction without assigning any reason. Without prejudice to the foregoing, Aspire may refuse to authorise any Advance Card transaction for the following (but not limited) reasons:

5.4.1 if the transaction causes the available Advance Account Limit and/or Single Transaction Limit to be exceeded; or

5.4.2 if Aspire or AFTSG reasonably believes that it is necessary to comply with any applicable laws, rules or regulations in force from time to time.

5.5 The Cardmember and Cardholder are fully responsible for ensuring that payments are only made to persons or entities in connection with commercial transactions in compliance with applicable laws and regulations. At no time and under no circumstances shall the Cardmember or the Cardholder use or allow the use of the Advance Card or any services provided by Aspire or AFTSG in connection with any of the following:

5.5.1 money-laundering activities, fraud and/or the funding of terrorist organisations;

5.5.2 to pay debts incurred from online gambling, wagering, betting or other unlawful activities;

5.5.3 in countries subject to sanctions (which mean any economic sanctions, laws, regulations, embargoes or restrictive measures administered, enacted or enforced from time to time including by

(i) the Monetary Authority of Singapore;

(ii) the European Union; (iii) the United Nations;

(iv) the United States of America; or (v) any other relevant sanctions authorities)

5.6 The Cardmember and Cardholder may not use the Advance Card for any transactions for cash, including but not limited to cash back, cash from a bank, money orders, cash withdrawals from ATM facilities in Singapore and such other jurisdictions, where such transactions for cash would contravene the laws of such jurisdictions.

5.7 If so requested by the Cardmember, and subject to Aspire and AFTSG’s discretion and compliance with applicable laws and regulations, the Advance Line may be utilised by way of an Advance Transfer. Each Advance Transfer shall be subject to such anti-money laundering and other verification and transaction screening procedures that AFTSG and Aspire may in its discretion implement from time to time. Each Advance Transfer and the applicable Advance Transfer Fee will be set out in the relevant Advance Account Statement and shall be payable by the Cardmember.

6 ADVANCE ACCOUNT LIMITS AND TRANSACTION LIMITS

6.1 The Advance Account has a maximum spend limit equal to the Advance Account Limit. The Cardmember’s initial Advance Account Limit is the principal amount of the Advance Line that AFTSG agrees to provide.

6.2 The Cardmember may request for:

6.2.1 one or more Advance Cards to be issued under its Advance Account; and          

6.2.2 Advance Transfers to be made under its Advance Account.

6.3 In the event AFTSG cancels the Advance Line for any reason, the Advance Account Limit will be reduced to zero accordingly and all Cardholders will not be allowed to make any further transactions on any Advance Card or any Advance Transfers.

6.4 Aspire may prescribe transaction amount limits on the Advance Card and/or on Advance Transfers (“Single Transaction Limit”) and may vary the Single Transaction Limit from time to time without notice to the Cardmember or Cardholder.

6.5 The Cardholder may carry out an Advance Card transaction or Advance Transfer, as the case may be, only if:

6.5.1 the transaction amount will not result in the available Advance Account Limit being exceeded; and

6.5.2 the transaction amount does not exceed the Single Transaction Limit.

6.6 The Cardmember and Cardholder shall not carry out or attempt to carry out any transaction that would result in any such limits being exceeded.

6.7 Notwithstanding any applicable Advance Account Limit and/or Single Transaction Limit, Aspire may in its sole and absolute discretion approve, authorise or allow any transaction to be carried out even if such transaction would exceed or result in any such limits being exceeded.

6.8 Aspire has the sole discretion to determine whether the Advance Account Limit and/or Single Transaction Limit will be or has been exceeded, and any such determination shall be conclusive and binding on the Cardmember and Cardholder.

6.9 In calculating whether the Advance Account Limit will be or has been exceeded, Aspire may take into account the amount of any transaction not yet debited to the Advance Card and of any authorisation given by the Cardmember, Cardholder and/or Aspire to a third party in respect of a prospective transaction (including but not limited to any proposed Advance Transfer).

7 CARDMEMBER’S RESPONSIBILITIES

7.1 The Cardmember shall ensure that each Cardholder shall at all times duly and properly comply with, observe and discharge all the Cardholder’s obligations under this Agreement. The Cardmember agrees it shall be fully and solely liable and responsible for any act, omission, fraud, negligence or default of each and every Cardholder.

7.2 The Cardmember shall be liable for and shall pay AFTSG on demand the balance due to AFTSG on the Advance Account, including all Advance Transfers and all charges effected or debited to the Advance Account in accordance with this Agreement or any other agreement between the Cardmember (whether alone or jointly with any other person or persons) and Aspire and/or AFTSG.

7.3 Cardmember will be issued an Advance Account Statement 30 days from the date of the first transaction made on the Advance Card, and monthly thereafter.

7.4 Amounts due under each Advance Account Statement will be presented in the currency of the Advance Account Limit. Where applicable, such amounts will be determined using the closing mid-market rate for the relevant currency pair as at the date preceding the date of the relevant Advance Account Statement published by a reputable source as AFTSG may select.

7.5 In respect of each Advance Account Statement, the Cardmember shall pay by the payment due date stated in that Advance Account Statement the amount stated therein. Payments shall be made to such payment account(s) as AFTSG may notify the Cardmember from time to time.

7.6 If by the payment due date of that Advance Account Statement, the Cardmember fails to make full repayment of the amount stated therein:

7.6.1 the Cardmember shall be liable to AFTSG for:

(a) a Finance Charge, levied on a monthly basis, on the entire outstanding balance from the payment due date of that Advance Account Statement until full payment of the outstanding balance is made; and

(b) a late payment charge of USD50 (or its equivalent in other currencies).

7.6.2 Aspire shall be entitled to decline to authorise or approve any transactions effected or proposed to be effected by the use of the Advance Card.

7.6.3 AFTSG shall be entitled to suspend or cancel the Advance Line without prior notice to the Cardmember or Cardholder.

7.7 For the purposes of discharging the amount payable by the Cardmember under each Advance Account Statement and/or this Agreement:

7.7.1 Aspire may in its discretion debit the relevant amount due or any part thereof from the Account (and, in the case the amount is owed to AFTSG, transfer such amount to AFTSG); and/or
7.7.2 Aspire and/or AFTSG may in its discretion instruct such other party(ies) to deduct the relevant amount due (or any part thereof) from such other account(s) of the Cardmember maintained with any other party.

8 FOREIGN CURRENCY TRANSACTIONS AND TRANSACTIONS PROCESSED OUTSIDE SINGAPORE

8.1 Advance Transfers may be made, and the Advance Card may be used for transactions that are denominated, in a currency other than the currency denomination of the Advance Account Limit ("Foreign Currency").

8.2 If a Foreign Currency transaction is made, the Foreign Currency amount will be converted to an amount in the currency denomination of the Advance Account Limit for a fee and at such currency exchange rate that Aspire, AFTSG, NIUM and/or the relevant Network (as may be applicable) may apply and levy at its discretion. For instance:

8.2.1 If the Advance Account Limit is denominated in Singapore dollars, a U.S. dollar denominated transaction made on the Advance Card will be converted to Singapore dollars.

8.2.2 If the Advance Account Limit is denominated in Indonesian Rupiah, a U.S. dollar denominated transaction made on the Advance Card will be converted to Indonesian Rupiah.

8.3 Such fees and exchange rates are subject to change from time to time without notice. The currency exchange rate that may be applied may not be the rate as at the date of the transaction.

8.4 The Cardmember and Cardholder agree, acknowledge and accept all risks and charges involved in making such Foreign Currency transactions, whether arising from differing currency conversion rates and practices, or otherwise from market fluctuations.

9 CASH WITHDRAWALS AT OVERSEAS ATMS; ATM LIMITS

9.1 All cash withdrawals from ATMs outside Singapore may be subject to additional fees and charges imposed by Aspire, NIUM and/or the relevant Network (as may be applicable), including a conversion factor applied on the converted amount, which may differ from one Network or service provider to the other. Such fees and charges will be charged to the Advance Account and the Advance Account Limit will be reduced accordingly.

9.2 Aspire, NIUM, any Network and/or other service provider may prescribe a withdrawal limit on ATM cash withdrawals. The Cardholder must not and will not be allowed to make cash withdrawals in excess of such withdrawal limits or if the withdrawal amount is greater than the available Advance Account Limit.

10 EXPIRATION

10.1 The Advance Card shall expire on the date printed on the Advance Card or as otherwise notified to the Cardmember or Cardholder. The Cardholder will not be able to use the Advance Card after the date of expiry.

10.2 The Cardmember and the Cardholder undertakes to inform Aspire in writing if they do not wish to have the Advance Card renewed. If no action is taken on the Cardmember’s or Cardholder’s part in relation to the automatic renewal of the Advance Card, the Cardmember and Cardholder are deemed to have agreed to the renewal of the Advance Card and the terms of this Agreement shall continue to apply.

11 HOLD ON FUNDS

11.1 A debit or a hold on the balance on the Advance Account for the amount of a transaction (including without limitation, Advance Transfers) may be made either on the day it is presented to Aspire or AFTSG for payment or on the day that Aspire or AFTSG receives notice of the transaction. Such an amount set aside or held is only an estimated sum of the actual transaction and may not be identical to the actual transaction.

11.2 Aspire and AFTSG shall have absolute discretion to place such amounts as are referred to in Clause 11.1 on hold for such periods as it deems fit. Upon the expiry of such periods as Aspire or AFTSG may determine, the Advance Account Limit will be reduced accordingly if the transactions in connection of which the amounts were placed on hold were presented for payment, and Aspire and/or AFTSG shall increase the available Advance Account Limit accordingly if the transactions in connection of which the amounts were placed on hold were not presented for payment, provided always that Aspire and/or AFTSG shall have the discretion to continue to place such amounts on hold if it is of the opinion that such transactions would be presented for payment within a reasonable time.

11.3 The Cardmember and Cardholder may not stop payment on a transaction or use any amount placed on hold. For the avoidance of doubt, the amount placed on hold in respect of any transaction shall not be treated as conclusive of the amount of the transaction that would eventually reduce the Advance Account Limit and in particular, for transactions denominated in a Foreign Currency, and shall not be deemed that Aspire, AFTSG, NIUM and/or the relevant Network (as applicable) has converted the transaction into the currency of the Advance Account Limit on the day that the amount was placed on hold.

11.4 Where the amount of any transaction is denominated in a Foreign Currency, Aspire and AFTSG may decide in its sole discretion whether to hold that amount in that Foreign Currency or the currency of the Advance Account Limit. It is hereby further agreed that Aspire and AFTSG shall have the right to increase at any time the amount that it would hold in respect of any transaction which is denominated in a Foreign Currency if it is of the view that the amount initially held when converted into that Foreign Currency would not be sufficient to satisfy payment of that transaction in full.

12 ASPIRE'S DISCRETION

12.1 The Cardmember and Cardholder agree that each of Aspire and AFTSG is entitled, at any time in its sole and absolute discretion, and without giving any prior notice or reason, to refuse to approve any proposed Advance Transfer or any proposed transaction that the Cardmember or Cardholder wishes to make on the Advance Card, notwithstanding that the Advance Account Limit and/or SingleTransaction Limit would not be exceeded.

12.2 Aspire is entitled, in its sole and absolute discretion, without prior notice and without giving any reason, to:

12.2.1 suspend the Cardholder’s right to use the Advance Card entirely or in respect of specific transactions; and/or

12.2.2 refuse to re-issue, renew or replace the Advance Card, without, in any case, affecting the Cardmember’s or Cardholder’s obligations under this Agreement which will continue in force and there will be no refund of any fees paid if the right to use the Advance Card is so suspended by Aspire or if the Advance Card is not so renewed or replaced.

12.3 Aspire may, at its absolute discretion, request for the Advance Card to be returned at any time, whereupon the Cardmember shall procure that the Cardholder shall immediately cease all use of the Advance Card, and cut up and return the Advance Card to Aspire.

12.4 Without prejudice to the other provisions of this Agreement, each of Aspire and AFTSG reserves the right, at any time, in its sole discretion and without prior notice and without giving reasons, to introduce, amend, vary, restrict or withdraw all or any of the benefits, services, facilities and privileges in respect of or in connection with the use of the Advance Account, the Advance Line, the Advance Card and/or this Agreement.

13 FEES AND CHARGES

13.1 AFTSG may at its discretion, charge to the Advance Account the following fees:

13.1.1 Advance Transfer Fees;

13.1.2 fee for the issuance, maintenance and renewal of the Advance Card;

13.1.3 replacement fee for the Advance Card;

13.1.4 administrative and transaction fees for Foreign Currency transactions and transactions processed outside Singapore;

13.1.5 administrative and transaction fees for ATM cash withdrawals;

13.1.6 administrative fee for the production or retrieval of any documents of and relating to the Advance Card; and

13.1.7 any other fees and/or charges for any services provided or action taken by Aspire and/or AFTSG in connection with the Advance Card, including but not limited to convenience, administrative or processing fees howsoever described for transactions made on the Advance Card with or through selected merchants and/or payment intermediaries.

13.2 The amount of fees and charges payable by the Cardmember shall be decided by Aspire and/or AFTSG and may change from time to time.

13.3 Without prejudice to the foregoing, AFTSG may also charge to the Advance Account:

13.3.1 any sum howsoever due and owed to AFTSG by the Cardmember; and/or

13.3.2 any fees, costs and/or expenses incurred by Aspire and/or AFTSG to rectify any error in payment or record, whether arising from the reversal of any Advance Card transaction posted on the Advance Card or otherwise in relation to the use of the Advance Card.

14 TAX

14.1 Each party will be responsible, as required under applicable law, for identifying and paying all taxes and other governmental fees and charges (and any penalties, interest, and other additions thereto) that are imposed on that party upon or with respect to the transactions and payments under this Agreement.

14.2 Should any member of the Aspire Group be required to file tax-related documents with any regulatory authorities, the Cardmember shall provide to the relevant member(s) of the Aspire Group in a reasonably timely manner any required documents (where applicable) in support of such filing upon request.

14.3 The Cardmember is liable to pay for all good and services taxes, value added taxes, all other taxes imposed or payable in respect of any Advance Transfer and any amount charged to the Advance Card (including late payments)and Aspire and/or AFTSG is entitled to charge all such amounts to the Advance Account.

15 LOSS OR THEFT OF ASPIRE CARD / DISCLOSURE OF PIN

15.1 The Cardholder must safeguard the Advance Card and must ensure that the card number, CVC, card expiry date and PIN is not disclosed to any person, and the Cardholder is solely responsible at all times for the security of the Advance Card.

15.2 The Cardmember and Cardholder undertake to ensure that it/he/she:

15.2.1 will not reveal or disclose the PIN and will not write down any password, PIN or any other security information given to Aspire or AFTSG; and

15.2.2 will only release the Advance Card, card number or PIN to make a transaction.

15.3 If the Advance Card is lost or stolen or if the Cardmember or Cardholder believes that the Advance Card, card number or PIN may be misused, the Cardmember and Cardholder  must:

15.3.1 without undue delay, notify and give Aspire written notice thereof;

15.3.2 assist in the recovery thereof or stop the use of the Advance Card;

15.3.3 stop using the Advance Card, card number or PIN immediately;

15.3.4 make a formal police report upon the occurrence of such event, and furnish Aspire with the police report and a written confirmation of such loss, theft or unauthorised disclosure and any other information Aspire may require.

15.4 In the event that the Advance Card is stolen or lost, the Cardmember shall be liable for all Advance Card transactions, whether authorised or otherwise incurred on the Advance Card, until Aspire has been notified by the Cardmember or Cardholder of such loss, theft, or unauthorised transaction and Aspire, the Cardmember or Cardholder blocks the Advance Card.

15.5 The Cardholder must also notify Aspire immediately if the Advance Card is damaged or not working properly.

15.6 Aspire may, in its sole and absolute discretion, issue a replacement Advance Card or a new PIN upon such terms and conditions as Aspire deems fit. The Cardmember and Cardholder may be required to comply with such card activation, security, and other procedures as may be prescribed by Aspire from time to time to re-enrol the replacement Advance Card for use in respect of any payment service.

15.7 If the Advance Card has been used without the Cardmember’s or Cardholder’s knowledge or permission, or is lost, stolen or if the Cardmember or Cardholder thinks the Advance Card may have been misused, Aspire may disclose to law enforcement agencies any information it believes could be relevant.

16 PROBLEMS WITH GOODS AND SERVICES

16.1 Neither Aspire nor AFTSG acts as an agent for any merchant of the goods and/or services purchased using the Advance Card. The Cardmember and Cardholder agree that neither Aspire nor AFTSG shall be liable in any way for any problems with the goods and services purchased with the Advance Card. The Cardmember and Cardholder (as applicable) are to seek redress directly from such merchant in respect of such goods and services.

16.2 Notwithstanding the non-delivery, non-performance or defects in any such goods and services, Aspire and/or AFTSG shall be entitled to charge the full transaction amount of such goods and services to the Advance Account (and the Advance Account Limit will be reduced accordingly). The Cardmember’s liability owing to Aspire and AFTSG is not affected by any dispute or counterclaim or right of set off which the Cardmember or Cardholder may have against such merchant.

16.3 The Cardmember and Cardholder acknowledge and agree that neither Aspire nor AFTSG is responsible for any benefits, discounts or programmes of or offered by any merchant, and neither Aspire nor AFTSG make any representation as to the quality, provision, or performance of any such goods or services. The Cardmember and Cardholder agree to resolve any complaints about the goods and/or services with the merchant directly, without referring to Aspire or AFTSG.

17 EXCLUSION OF LIABILITY

17.1 Neither Aspire nor AFTSG shall be responsible or liable in any way to the Cardmember or Cardholder for any inconvenience, loss, damage, cost or expense of any nature or embarrassment or injury suffered or incurred by the Cardmember or Cardholder, in each case whether foreseeable or not, resulting from, arising out of or in connection with any of the following:

17.1.1 if any merchant, establishment, or any other person refuses to accept or honour (or delays in accepting or honouring) the Advance Card, card number or PIN for any reason;

17.1.2 any refusal or delay by AFTSG, Aspire, NIUM or any Network to authorise, process, facilitate or approve any transaction;

17.1.3 if the Cardmember or Cardholder is deprived of the use of any goods, services, machinery, equipment, products and/or systems (whether electronic, telecommunicative or otherwise) as a consequence of any action, omission or delay by any merchant, establishment, Aspire, AFTSG, NIUM, any Network or any other party;

17.1.4 Aspire and/or AFTSG is unable to perform its obligations under this Agreement due, directly or indirectly, to the failure, defect or malfunction of any machine, system of authorisation, data processing or communication system or transmission link or any industrial dispute, war, Act of God or anything outside the control of Aspire or AFTSG and/or their respective servants or agents;

17.1.5 any damage to or loss of or inability to retrieve any data or information that may be stored in any microchip or circuit howsoever caused or any failure in the performance or function or breakdown or disruption of any of the Aspire's and/or AFTSG’s computers (whether hardware or software), machinery, equipment, products and/or systems (whether electronic, telecommunicative or otherwise) maintained by, used for, by Aspire and/or AFTSG or in connection with Aspire's and/or AFTSG’s business or otherwise whatsoever, including but not limited to the failure or inability of such computers, machinery, equipment, products and systems or any one or more of them to accept, recognise, store, process and/or transmit dates or data with respect to dates; and

17.1.6   unauthorised use of the Advance Card and/or Advance Account or any services or facilities in connection therewith, or any transaction effected by an unauthorised person.

17.2 Without prejudice to the generality of the provisions of this Clause 17, neither Aspire nor AFTSG is liable in any way to the Cardmember or Cardholder for any loss, damage, cost or expense of any nature arising out of or in connection with any Advance Transfer, the use of the Advance Card and/or this Agreement except where (and only to the extent that) the Cardmember has conclusively established in the courts of Singapore that the aforesaid has occurred solely owing to gross negligence, fraud or wilful default on Aspire’s or AFTSG’s part (as the case may be).

18 REFUNDS AND CHARGEBACKS

18.1 If the Cardmember or Cardholder wishes to receive a refund after conducting a transaction with a merchant via the Advance Card ("Refund"), the Cardmember or Cardholder should approach the merchant directly with the request. If the merchant agrees to provide a Refund, the Advance Account Limit shall be reinstated accordingly after Aspire receives the relevant amount from the merchant. None of Aspire, AFTSG or NIUM shall be obliged to investigate or defend the validity and/or value of any Refund.

18.2 If the Cardmember or Cardholder wishes to receive a refund from a merchant in respect of a disputed transaction ("Chargeback"), the Cardmember or Cardholder should approach Aspire with the request and supporting documents relating to the transaction. If the dispute is resolved in the Cardmember’s or Cardholder’s favour, the Advance Account Limit shall be reinstated accordingly after Aspire receives the Chargeback. The Cardmember and Cardholder acknowledge and agree that any decision of the relevant Network regarding the validity and value of any Chargeback is valid and binding. None of Aspire, AFTSG or NIUM shall be obliged to investigate or defend the validity and/or value of any Chargeback.

18.3 The Cardmember and Cardholder acknowledge and agree that the amount of any Refund or Chargeback received pursuant to any transaction made under the Advance Card may be different to the amount originally processed on the Advance Card due to reasons such as exchange rate fluctuations, transaction fees or the amount received with respect to any Refund or Chargeback being a partial refund of the original amount. Neither Aspire nor AFTSG will not be responsible to the Cardmember or Cardholder for any such shortfall.

19 VARIATION OF THIS AGREEMENT

19.1 Each of Aspire and AFTSG may amend, supplement, delete and/or revise any part of this Agreement at any time with notice (by publication thereof on the Platform or by any other means or manner as Aspire or AFTSG may select) and such changes shall take effect on the date specified in the notice. The Cardmember’s or the Cardholder’s continued use of the Advance Line, the Advance Account and/or the Advance Card after any such changes shall constitute consent and acceptance of the revised Agreement.

20 RECOVERY OF COSTS

20.1 Any costs, fees or expenses (including legal costs) Aspire or AFTSG incurs as a result of the Cardmember or Cardholder failure to abide by the terms of this Agreement or otherwise arising out of Aspire’s or AFTSG’s enforcement of any rights under this Agreement shall be recoverable by from the Cardmember on a full indemnity basis.

20.2 Without prejudice to the foregoing, the Cardmember agrees to indemnify and keep each of Aspire and AFTSG fully indemnified against all claims, demands, action, proceedings, losses, damages, costs and expenses of any nature (including legal costs and expenses), in each case on a full indemnity basis, suffered, incurred or sustained by Aspire or AFTSG (as the case may be), directly or indirectly, by reason of or in connection with this Agreement, including without limitation:

20.2.1 any use or misuse of the Advance Line, the Advance Account, the Advance Transfer service and/or the Advance Card including, without limitation, all transactions and all ATM transactions regardless of whether or not authorisation has been sought or given;

20.2.2 any breach of any provision of this Agreement by the Cardmember or Cardholder;

20.2.3 the enforcement or protection of Aspire's and/or AFTSG’s rights and remedies against the Cardmember and/or Cardholder under this Agreement; and/or

20.2.4 any change in any law, regulation or official directive which may have an effect on the Advance Card and/or this Agreement.

21 CONSENT TO DISCLOSURE OF INFORMATION

21.1 Each of Aspire and AFTSG will use, collect and disclose personal information in accordance with the data privacy policy and prevailing practices on Aspire’s webpage (https://aspireapp.com/sg/privacy-policy) as may be amended, supplemented and/or substituted from time to time. Further, the Cardmember and Cardholder give each of Aspire and AFTSG consent, and authorise each of Aspire and AFTSG, to in its absolute discretion, at any time and without notice or liability, disclose any particulars of and/or otherwise relating to the Advance Account, the Advance Card, the relevant Advance Transfer, the Cardmember and Cardholder to:

21.1.1 any person or organisation providing (or participating in the provision of) electronic or other services in connection with payments and/or banking services, usage, or benefits made available to or utilised by the Cardmember and/or Cardholder, whether in Singapore or outside Singapore, for the purpose of offering or operating the said services, including but not limited to, investigating discrepancies, errors or claims;

21.1.2 any merchant or establishment which accepts the Advance Card;

21.1.3 NIUM and/or any partnering merchant, intermediary or third party which has a legitimate business purpose for obtaining such information, including offering the Cardmember products or services in connection with the Advance Account, the Advance Card and/or any transaction, and/or otherwise to facilitate the use of the Advance Account and/or the Advance Card;

21.1.4 any Network;

21.1.5 any payment processor, financial institution, intermediary or other party in any jurisdiction involved in facilitating, effecting or processing transactions on the Advance Account and/or the Advance Card;

21.1.6 any party or intermediary in any jurisdiction involved in facilitating, processing or providing any service in connection with the Advance Card, the Advance Account, any Advance Transfer and/or any Advance Card transaction;

21.1.7 any person or organisation for the purpose of enabling or facilitating the book-keeping and accounting integration services available on the Platform including but not limited to book-keeping and accounting services providers and information management services providers;

21.1.8 any member of the Aspire Group and their respective agents, correspondents, independent contractors and/or associates, for the purposes of risk management, regulatory compliance and reporting, customer screening relating to sanctions, anti-money laundering and countering the financing of terrorism compliance processes, monitoring credit exposures across the Aspire Group and cross-selling;

21.1.9 any bank, credit or charge card company or merchants, for the purpose of any credit or other enquiry in connection with the Advance Card, the Advance Account, any Advance Transfer and/or any Advance Card transaction;

21.1.10 any person or organisation engaged for the purpose of performance of Aspire’s and/or AFTSG’s services or operational functions where these have been outsourced;

21.1.11 any agent appointed by Aspire and/or AFTSG for the purpose of making, printing, mailing, storing, microfilming and/or filing any personalised statement of accounts, card, label, mailer or any other document or item on which the Cardmember’s or Cardholder’s  name and/or other particulars appear, or any data, record or document, and/or otherwise to provide a service to Cardmember and/or Cardholder;

21.1.121 any information garnering or processing organisation or consultant or entity conducting surveys or analysis or research or developing system applications for Aspire, AFTSG or any other member of the Aspire Group;

21.1.13 any person or organisation for the purpose of marketing or promoting any service or product of Aspire and/or AFTSG or jointly offered or developed by Aspire, AFTSG or any other member of the Aspire Group;

21.1.14 the police, law enforcement agency or any public officer conducting an investigation into any matter relating to the Advance Account, the Advance Card, any Advance Transfer, any Advance Card transaction and/or any Aspire member in any jurisdiction;

21.1.15 any government agency, authority, tribunal or court of any jurisdiction (or equivalent), in compliance with the order, notice or request of such agency, authority, tribunal or court, and/or applicable laws and regulations, and/or for commencing, defending or otherwise participating in any legal or administrative proceedings or inquiry before any court, tribunal or other agency or authority;

21.1.16 any person for the purpose of collecting or recovering on Aspire's and/or AFTSG’s behalf any sums of money owing to Aspire and/or AFTSG by the  Cardmember;

21.1.17 any credit bureau of which Aspire and/or AFTSG is a member or subscriber or credit reference agents;

21.1.18 auditors and professional advisors including lawyers, insurers and receivers appointed by any member of the Aspire Group;

21.1.19 any person authorised to operate the Advance Account or any guarantor or security provider of the Advance Account;

21.1.20 any rating agency, business alliance partner, insurance company, insurer, insurance broker or direct or indirect provider of credit protection;

21.1.21 any person or organisation who, in the course of the sending and delivering of communication materials (including all forms of direct mailers and advertisements) from Aspire and/or AFTSG to the Cardmember or Cardholder or the prior preparation, sees any envelope or communication material sent by Aspire and/or AFTSG to the Cardmember or Cardholder, which bears Aspire’s and/or AFTSG’s name and/or logo;

21.1.22 any person or organisation to clarify or correct any wrongful or erroneous belief, representation or allegation to any third party, whether made by the Cardmember or Cardholder or on the Cardmember’s or Cardholder’s behalf, both in public and in private, regarding any of Aspire’s and/or AFTSG’s dealings with the Cardmember or Cardholder or otherwise in relation to Aspire’s and/or AFTSG’s products, processes or policies, regardless of the form of media or platform which may include but is not limited to, published articles, posts, complaints or petitions; and/or

21.1.23 any other person Aspire and/or AFTSG considers it in its interest to make such disclosure in connection with its provision of its services and the enforcement of any rights and/or performance of any obligation in respect of or in connection with the Advance Account, the Advance Card, any Advance Transfer, any Advance Card transaction and/or this Agreement.

21.2 The Cardholder can ask Aspire and AFTSG what personal data it holds about the Cardholder and, where applicable, the Cardholder can ask Aspire and AFTSG (as the case may be) to correct it if it is inaccurate or incomplete. Aspire and AFTSG (as the case may be) will need to verify the Cardholder’s identity before the request may be processed.

21.3 To submit a question or request regarding the Cardholder’s personal data, the Cardholder may contact Aspire at 1 Syed Alwi Road, #04-04, Singapore 207628 (Attention: Data Protection Officer) or via email at singapore-dpo@aspireapp.com. Aspire will respond to the question or request as soon reasonably possible within 30 days after receipt.

21.4 Following termination or deactivation of the Advance Card, Aspire and AFTSG may retain personal data and content for backup, archival, audit, disaster recovery, or otherwise in accordance with applicable law, regulations, guidelines and directives (for example, regulations relating to the prevention of money laundering and countering the financing of terrorism).

22 CANCELLATION, SUSPENSION AND TERMINATION

22.1 AFTSG and/or Aspire may cancel, suspend or terminate the Advance Account, the      Advance Line and/or the Advance Card at any time without having to give any reason or notice to the Cardmember or Cardholder.

22.2 NIUM may cancel, suspend or terminate the Advance Card at any time without having to give any reason or notice to Aspire, the Cardmember and/or Cardholder.

22.3 The Cardmember may terminate this Agreement and the Advance Account by giving Aspire 30 days written notice. Upon the termination of the Advance Account (whether by the Cardmember or Aspire or AFTSG):

22.3.1 all Advance Cards will be cancelled;

22.3.2 any accrued liabilities and obligations under this Agreement will remain continuing; and

22.3.3 the Cardmember shall pay AFTSG on demand all unpaid amounts charged to the Advance Account (including all Advance Transfers, and all expenditures made on all Advance Cards) as may be specified by AFTSG in the demand and until payment in full is made, AFTSG shall be entitled to levy

(i) a monthly Finance Charge calculated on the entire balance due and

(ii) a late payment charge of USD50 (or its equivalent in other currencies).

22.4 Without limiting the generality of the foregoing, Aspire may at any time cancel any Aspire Card which has not been utilised for any transaction for more than 3 months.

22.5 Upon termination of this Agreement, the Cardmember shall procure that all physical Advance Cards are cut up and returned to Aspire.

22.6 The rights conferred on Aspire and AFTSG under this Agreement shall survive termination.

23 SET OFF AND CONSOLIDATION

23.1 In addition to any lien, right of set-off or other right which AFTSG may have, AFTSG may in its absolute discretion at any time and without prior demand or notice combine or consolidate any and all account(s) maintained by the Cardmember with AFTSG and/or set-off or transfer any sum standing to the credit of any or all such account(s) in or towards the discharge or payment of any and all liabilities (whether actual or contingent, several or joint) to AFTSG from the Cardmember on any other account. AFTSG shall be entitled to exercise this right notwithstanding that the balance due to AFTSG on any account is not overdue and/or the use of the Advance Card or the Advance Account has not been closed or terminated and/or the credit balances on such accounts and the liabilities on any other accounts may not be expressed in the same currency.

23.2 AFTSG is entitled to apply any and all payments it receives from the Cardmember in such manner and order and to such transaction as it may determine or select regardless of any specific appropriation made by the Cardmember or any person making such payment(s).

23.3 In the case where AFTSG requires the Cardmember to provide funds on account as cash collateral as a condition to availing the Advance Line to it, the Cardmember agrees, accepts and acknowledges that:

23.3.1 no interest on such funds will be payable to the Cardmember, and the Cardmember shall have no right to any interest that may accrue on such funds;

23.3.2 the funds will be returned to the Cardmember:

(i) upon termination of this Agreement;

(ii) at AFTSG’s discretion, or

(iii) at the Cardmember’s request, in each case, subject to AFTSG’s right of set-off consolidation and appropriation under Clauses 23.1 and 23.4 and AFTSG’s right to terminate or reduce the Advance Line at its discretion; and

23.3.3 AFTSG may require the Cardmember to provide additional funds on account as cash collateral at any time and at its discretion as a condition to continue availing the Advance Line to it.

23.4 In the case where the  Cardmember provides cash collateral to AFTSG  as aforesaid,  theCardmember agrees that it intends for the cash collateral to be security firstly for the obligations of theCardmember with respect to the Advance Line and secondly for all the Cardmember’s other obligations from time to time owing or due to AFTSG howsoever arising. Notwithstanding any contrary provision agreed between the Cardmember and AFTSG, in the event the Cardmember fails to pay any amount when due or in the event of the Cardmember’s insolvency, AFTSG is entitled at any time, without prior notice or restriction, to appropriate the whole or any part of the cash collateral held towards the discharge of any indebtedness of the Cardmember to AFTSG whether under thisAgreement or otherwise and, for the purposes of so doing, may convert such sums (or any part of them) into any currency other than that in which they are held. The rates used will be at the sole discretion of AFTSG.

24 COMMUNICATIONS

24.1 Each of Aspire and AFTSG shall be entitled (but not obliged), at its sole discretion, to rely and act on any communication, requests or instructions which Aspire and/or AFTSG (as the case may be) in its sole opinion believes originates from the Cardmember or Cardholder (whether orally or in writing (including by email) and whether in person or over the telephone or by facsimile or other means of telecommunication and whether genuine or with or without the Cardmember’s or Cardholder’s consent or authority), and any action taken by Aspire and/or AFTSG (as the case may be) pursuant thereto shall bind the Cardmember.

24.2 Neither Aspire nor AFTSG shall be liable for any loss incurred in connection with it acting on or acceding to (or its refusal to act on) any instruction, communication or request from (or purportedly from) the Cardmember or Cardholder, and the Cardmember will indemnify Aspire and/or AFTSG (as the case may be) against any and all losses, claims and costs incurred by Aspire and/or AFTSG (as the case may be) arising out of or in connection with any request, communication or instruction from (or purportedly from) the Cardmember or Cardholder.

24.3 Neither Aspire nor AFTSG shall be under any duty to verify the identity of any person communicating purportedly as or on behalf of the Cardmember or Cardholder.

24.4 Each of Aspire and AFTSG may serve any writ of summons, statement of claim, statutory demand, bankruptcy application or other legal process or document in respect of any action or proceedings under this Agreement required by any relevant law, including without limitation, the rules of court or other statutory provisions, to be served on the Cardmember by personal service, by leaving the same at, and/or sending the same by ordinary post, to the last known address (whether within or outside Singapore and whether such address is a postoffice box or is a place of residence or business) as may be provided or disclosed to Aspire, AFTSG or their respective solicitors. To the fullest extent permitted by law, the Cardmember agrees that such legal process or document is deemed to have been duly served on the Cardmember even if it is returned undelivered: (a) on the date of delivery, if sent by hand and/or left at the last known address; or (b) on the date immediately following the date of posting, if sent by post. The Cardmember further agrees that service of such legal process is deemed to be good and effective service of such legal process on the Cardmember and nothing in this Agreement shall affect Aspire's or AFTSG’s right to serve legal process in any other manner permitted by law.

25 GENERAL

25.1 If any one or more of the provisions of this Agreement or any part thereof is declared to be illegal, invalid or unenforceable under any applicable law, it will not affect the legality, validity or enforceability of the remainder of this Agreement in such jurisdiction or the legality, validity or enforceability of this Agreement in any other jurisdiction.

25.2 This Agreement covers the use of the Advance Line, the Advance Account and the Advance Card, which is additional to those terms and conditions governing the operation of the Account and any other agreements that the Cardmember or Cardholder  has with Aspire and/or AFTSG. In the event of inconsistency, this Agreement shall prevail with respect to the Advance Line, the Advance Account and the Advance Card.

25.3 The remedies under this Agreement are cumulative and are not exclusive of the remedies provided by law.

25.4 No forbearance or failure or delay by Aspire or AFTSG in exercising any right, power or remedy is to be deemed to be a waiver or partial waiver thereof on the part of Aspire or AFTSG; and no waiver by Aspire or AFTSG of any breach of this Agreement on the Cardmember’s or Cardholder’s part is to be considered as a waiver of any subsequent breach of the same or any other provision of this Agreement.

26 ASSIGNMENT

26.1 The Cardmember may not assign, transfer or otherwise dispose of any of its rights, benefits or obligations under this Agreement.

26.2 Each of Aspire and AFTSG may assign or transfer to any third party (including, without limitation, to any other corporation within the Aspire Group) any of its rights, benefits and/or obligations under this Agreement without the Cardmember’s or Cardholder’s consent or the need to provide the Cardmember or Cardholder with any prior notice of such assignment or transfer, and the Cardmember irrevocably consents to any such assignment or transfer.

27 CONCLUSIVENESS OF DOCUMENTS

27.1 Any document relating to any transaction bearing the Cardmember’s or Cardholder’s signature (physical, digital, electronic or otherwise) or authorised by a PIN or otherwise made with the Cardmember’s or Cardholder’s payment instruction shall be conclusive evidence of the fact that the transaction therein stated or recorded was authorised and properly made or effected.

27.2 If the Cardmember or Cardholder does not notify Aspire and AFTSG in writing of any inaccuracy or error in any transaction statements or records (including for the avoidance of doubt any Advance Account Statement) within 7 days of the receipt or deemed receipt of such statements or records, it shall constitute conclusive evidence that:

27.2.1 every transaction stated therein has been authorised and properly made or effected; and

27.2.2 every charge stated therein, every amount debited therein has been validly and properly incurred or debited in the amount stated therein.

27.3 Nothing in this Clause 27 shall prevent Aspire or AFTSG from rectifying any errors, omissions in any statement, records or advice and any such amended statement, records or advice shall be binding on the Cardmember and Cardholder.

28 CONTRACTS (RIGHTS OF THIRD PARTIES) ACT, CHAPTER 53B

28.1 A person who or which is not a party to this Agreement shall not have any right under the Contracts (Rights of Third Parties) Act (Chapter 53B) to enforce any provision of this Agreement.

29 GOVERNING LAW AND JURISDICTION

29.1 This Agreement is governed by and construed in accordance with Singapore law.

29.2 The Cardmember hereby submits irrevocably to the non-exclusive jurisdiction of the Courts of Singapore with respect to any claim or dispute concerning or arising from this Agreement or any transactions.