1. OverviewThis Modu Business Account Agreement (“Modu Business Account Agreement” or “Agreement”) supplements the Modu Platform Agreement (“Platform Agreement”) and is entered into between the company applying for a Modu Business Account and its representatives (“Company” or “you”) and Modu Technologies LLP (“Modu,” “we,” “our,” or “us”).
Modu provides technology and infrastructure to access financial services. Business accounts and related payment services are offered in cooperation with our licensed partner bank in Kazakhstan.
This Agreement governs your relationship with Modu and your use of Modu Business Accounts. Capitalized terms that are not defined in this document have the definitions provided in the Platform Agreement.
By agreeing to these terms, you acknowledge that you have or will have agreed to the terms contained in the Modu Platform Agreement and, where applicable, the agreement with our partner bank governing deposit accounts.
You consent to receive all notices and information from us electronically, including required disclosures, account statements, and tax forms. The terms of this Agreement will be binding upon Company and Modu, and their respective successors and representatives who obtain the rights and obligations set forth in this Agreement solely by operation of law. The Company may not assign or delegate its obligations hereunder without the prior written consent of Modu.
We reserve the right to amend this Agreement, including by deleting, modifying, or adding provisions, at any time by posting the amended version of this Agreement to the Modu website. The amended version will be effective at the time we post it, unless otherwise noted. If any amendments reduce your rights or increase your responsibilities, we will provide you with at least 30 days’ advance email notice of the amended Agreement before it becomes effective as to you. Such email notice will be sent to the email address(es) we have on file for the Administrator(s) of your Modu Business Account. Your continued use of your Modu Business Account or any payment Services available through your Modu Business Account, through the actions of any Administrator or User, after any amended Agreement becomes effective as to you constitutes acceptance of the amended agreement. If you do not agree with any amended Agreement, you may close your Modu Business Account before it becomes effective as to you. It is your responsibility to ensure that the contact information, including any email addresses, associated with your Modu Business Account remains accurate and current. Please contact us immediately at support@modu.ai if your contact information changes so we can assist with updating your account.
Outside of amendments made consistent with the terms of this Agreement, the only other way this Agreement may be amended or otherwise modified is through an agreement in writing that is duly signed by an authorized representative of Modu and an authorized representative of Company.
If you request other Services provided by Modu that require you to agree to specific terms and conditions, such terms and conditions will be deemed incorporated into and made part of this Agreement. Any Services provided by entities other than Modu or our partner bank will be governed by the terms and conditions applicable to such Services.
You understand and acknowledge that this Agreement may contain a pre-dispute arbitration clause in Section 9 that governs claims or disputes between you and Modu. The Platform Agreement also contains provisions regarding resolution of disputes between you and Modu or its affiliates.

2. Opening a Modu Business Account
2.1 EligibilityOnly legal entities duly incorporated and registered in the Republic of Kazakhstan (such as LLPs, JSCs, or other recognized corporate forms) may apply for a Modu Business Account. Individual consumers, sole proprietors, unincorporated partnerships, and companies organized and/or registered outside Kazakhstan are not permitted to open or use a Modu Business Account or the Services.
You are required to inform us prior to completing your Modu Business Account application if the Company is a financial institution, a licensed entity in the financial services sector, or provides regulated financial services to third parties. You are also required to inform us prior to completing your application if any government body, exchange, or financial institution directly or indirectly owns a controlling interest in the Company. The Company is obligated to promptly notify Modu in writing if any Company Administrators, Users, or Control Persons become licensed or registered in any such capacity.
You must also notify us immediately if any of the information that you provided with your Modu Business Account application is no longer correct, or if your business falls into any category that requires notification under this section. If you fail to do so, we may immediately close your Modu Business Account.
Modu does not provide investment, legal, or tax advice. Your Modu Business Account is intended for payments and financial operations only, and you are solely responsible for how you use it. Any support we provide is limited to explaining the functionality of the Account and related Services.

2.2 Applying for a Modu Business AccountBy submitting an application for a Modu Business Account, each of Company and the Natural Person Applicant submitting this application represents and warrants that:

• Company is a business entity organized and registered in Kazakhstan (or another permitted jurisdiction, as determined by Modu).
• Company is validly existing and in good standing in its jurisdiction of organization.
• Company has a valid Business Identification Number (BIN).
• The representative who is applying for a Modu Business Account is authorized to provide information about Company, submit the application on behalf of Company, and enter into binding agreements on behalf of Company.
• All information you and the representative submitting the application provide to us is and will be current, accurate, and complete, and you will keep such data current, complete, and accurate at all times.
• Company and all Users will use Modu Business Account(s) for business purposes only and not for any personal, family, or household use.
• Company is not engaged in any Prohibited Activities or Restricted Activities.
• You have reviewed this Agreement and the Modu Platform Agreement.

When we approve the application, a Modu Business Account will be opened for the Company. Banking and payment services will be provided by Bank RBK JSC, Modu’s licensed banking partner in Kazakhstan. By opening a Modu Business Account, you agree that Modu may rely on Bank RBK and other financial partners to process payments, hold deposits, and provide related services.
We may deny Company’s application to open a Modu Business Account or may decline to offer Services for any reason or no reason at our sole discretion. You agree that we may review information available to us about you, Company, other Modu Account users, or beneficial owners of Company from various sources, including information provided to us by our affiliates and service providers, to determine whether to open a Modu Business Account for Company.

2.3 Customer Identification Program NoticeTo help combat money laundering, terrorist financing, and other financial crimes, applicable laws and regulations require financial institutions to obtain, verify, and record information that identifies each person or entity who opens an account.
When you open a Modu Business Account, we and/or our licensed banking partner are required to collect certain information from you, which may include (but is not limited to): your principal place of business, local offices, Business Identification Number (BIN), certified articles of incorporation, government-issued business license, and other corporate organizational documents.
If you do not provide the requested information, or if your identity cannot be verified, we may not be able to open an account or carry out transactions for you. If an account has already been opened, we may be required to suspend or close it.

3. About Modu Business Account 3.1 Account Structure and Cash ManagementYour Modu Business Account is provided in partnership with licensed financial institutions in Kazakhstan. Funds deposited into your Modu Business Account are held at our partner bank(s) in accordance with applicable Kazakhstani banking laws and regulations.
Depending on the agreement with the partner bank, your balances may be eligible to earn interest or other yield. Such terms, including rates and conditions, are set and disclosed by the partner bank.
You acknowledge that a Modu Business Account is not an investment product and should not be viewed as a substitute for long-term investment options. Modu does not provide brokerage services, securities trading, or access to money market mutual funds or similar investment products.
Your funds are protected in accordance with applicable deposit insurance and regulatory requirements in Kazakhstan. Modu is not responsible for any changes in interest rates, yields, or other conditions set by the partner bank(s).