KBZPay – Buy & Sell Gold (“Service”) is an online service that facilitates the purchase and selling of Gold through the mobile application. This Service is offered and delivered by our custodian KBZ Bank Trust who will be procuring the gold from Academy and will be selling gold and providing services of safe keeping and vaulting of gold and related services thereto, on or through the KBZPay’s mobile application. 

Please read the following important provisions carefully before using this Service. If you do not agree with any of these provisions, you should not use this Service. By accessing or using this Service and Clicking on “Proceed” or “SUBMIT” you agree and accept to be bound by these Terms and Conditions and disclaimers set out herein.

You agree that KBZPay is only a facilitator for buying and selling of Gold digitally for and on behalf of the custodian (KBZ Bank).

You hereby also agree to the Terms as provided issued by the custodian and confirm that use of this Service shall be governed by the terms and conditions as mentioned under such TERMS .

You agree and acknowledge that the Services are being provided and made available on an “AS IS” and “AS AVAILABLE” basis.

You assume all risks, expenses and costs associated with your use of the Services through the KBZPay mobile application. You understand that in addition to the price of the Gold which shall be paid by you, there may be additional charges which may be levied by custodian for purchase or sale of Gold.

You understand that you should be a Level 2 customer to purchase or sell gold on KBZPay. You agree and acknowledge that KBZPay shall be entitled to collect and store relevant information and documents provided by You to become Level 2 customer.

You agree that the KBZPay, in association with the custodian KBZ Bank, may provide to you an option to set-up a standing instruction facility/authorization on your wallet account or any other future account on KBZPay.

You agree that once your offer to buy Gold is placed on the KBZPay application and accepted, cancellations and refunds are not allowed. You will be able to sell the gold bank in KBZPay after a 24-hour period. You understand that there will be a cooling period of minimum 24 hours between purchase and sale of physical gold. 

You hereby agree to indemnify and keep the KBZPay indemnified from and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses, directly or indirectly, whatsoever (“Losses”) for use of Service through the mobile application.

You agree that use of this Service is through the mobile application and your access to KBZPay is governed by the Terms of Use of the KBZPay and Privacy Policy which are incorporated herein by deemed reference.

In case you have any queries with respect to this Service, please contact us at [email protected] 



In this Terms and Conditions, the following terms shall have the following meaning unless the context so otherwise requires:

1.1 Customer” shall mean any individual, who as the counterparty transacts using the Platform for buying Gold and/or selling back the Gold to KBZPay and the custodian as outlined in these Terms.

1.2 “Customer Account” shall mean the account created whether by You or otherwise, in accordance with these Terms.

1.3 “Customer Account Information” shall mean the information provided by You for the purpose of creation of the Customer Account.

1.4 Customer Request” shall mean a Delivery Request, Sale Request or Exchange Request placed by You in relation to the Customer Gold.

1.5 “Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization and any other legal entity.

1.6 “Platform” shall mean, and include, the platforms (website, mobile apps, others) of KBZPay, that the Customer accesses for the transactions, including all contents, services and technology offered through the Platform.

1.7 “Transfer” refers to a facility to transfer Gold from a Customer Account to another Customer Account.

1.8 Custodian” is the KBZ Bank.

1.9 “KBZ BANK” means Kanbawza Bank Limited and all the branches of KBZ Bank, including any branches that shall be set up by KBZ Bank in the future.

1.10 “Business Day” means a day other than a Saturday, Sunday, public holiday or bank holiday in Myanmar.

1.11 “CBM” means the Central Bank of Myanmar.

1.12 “Website “means the KBZ Bank Website at www.kbzbank.com and the KBZPay Website at www.kbzpay.com .

In addition to the terms defined in Section 2.1, additional terms used herein shall have the respective meanings assigned thereto in the relevant sections contained hereinafter.


2.1 The Gold is being offered for purchase and/or sale by custodian. The Services are being provided by KBZ Bank. The involvement of KBZPay is limited to providing access to the customers on the Platform to the Gold made available by custodian and facilitating the collection of payments for the Services on its Platform (“Platform Provider”). The Platform Provider assumes no liability for the Services except for providing payment services and Customer Support in addressing the queries related to the Services and payments made in relation thereto. Any and all of the transactions relating to the Services are being rendered by custodian in association with the Intermediaries (namely the Security Trustee and Vault Keeper) with whom separate agreements have been entered into by custodian. It is hereby clarified that any transaction pertaining to the Gold bought from custodian through the Platform, which has any impact of altering the Gold Account of the Customer, can only be initiated on / undertaken through the Platform.

2.2 The Customers are advised to read and understand these Terms carefully before using the Services.

2.3 Custodian and/or the Platform Provider do not guarantee any returns, on any transactions consummated vis-à-vis the Platform, to any person, either directly or indirectly. The Customer (hereinafter referred to as “You”, with the term “Your” being construed accordingly) shall be solely responsible for undertaking appropriate and effective due diligence and related analysis before undertaking any transactions pursuant to these Terms of Use. You further acknowledge and agree that custodian and/or The Platform Provider and its officers, directors, employees, agents and affiliates will have no liability for Your purchase or other decisions using the Platform.

2.4 The Services by custodian shall be provided for a term commencing from the date of creation of the Gold Account.

2.5 You understand and acknowledge that the Services are being provided and made available on an “AS IS” and “AS AVAILABLE” basis. The Platform may contain errors or inaccuracies that could cause failures, corruption or loss of data and/or information from Your device and/or any device used by You to connect to the Platform as well as from peripherals (including, without limitation, servers and computers) connected to any of the above-mentioned devices. You assume all risks and costs associated with Your use of the Services and the Platform, including without limitation, any costs incurred for the use of Your device and any damage to any equipment, software or data.

2.6 You confirm that you are not registered under the Goods and Services Tax Act, 2017 and that if, in the course of your relationship with Custodian, you become registered under the Goods and Services Tax Act, 2017, you shall inform Custodian or the Platform Provider of your change in status immediately, and provide any relevant information and documents, as may be requested.


3.1 Appointment of Intermediaries

3.1.1 Custodian may from time to time appoint intermediaries who shall assist the custodian in providing the Services to You (“Intermediaries”). The term, “Intermediaries” shall mean the Security Trustee, Vault Keeper and shall include any and all Persons appointed by custodian upon placement of a Customer Order (and successful payment of monies in lieu thereof) till the consummation of the Customer Requests placed by You in accordance with these Terms. You hereby consent to the appointment of such Intermediaries, for and on Your behalf, by custodian.You acknowledge and understand that these Intermediaries have been appointed to ensure that Your Customer Orders/Customer Requests are duly complied with in accordance with these Terms. You additionally acknowledge that certain payments will have to be made to these Intermediaries for their appointment and services in relation thereto, which shall be borne by Custodian on Your behalf unless otherwise indicated in these Terms.

3.2 Safe Keeping/Vaulting of Gold

3.2.1 Gold purchased by You corresponding to the Customer Order shall be stored with a custodian in a vault on Your behalf (“Vault Keeper”).You hereby authorize (i) appointment of such Vault Keeper to safe keep the gold purchased; and (ii) Custodian to store such gold products purchased by You, including, but not limited to, bullion, coins or jewellery (as the case may be) in the secured vault on Your behalf (“Customer Gold”). It is hereby clarified that Your purchase of the gold corresponding to the Customer Order shall be deemed to be completed and title in relation thereto shall be deemed to have been passed upon such relevant portion of the Customer Gold being stored in the vault with the Vault Keeper on Your behalf or upon a final invoice being issued by Custodian in accordance with these Terms, subject to applicable laws. To ensure that the Customer Gold stored in such vault is adequately protected, necessary policy/ies for monitoring by the Vault Keeper, where the cost of operations will be borne by the Vault Keeper. The custodian will be in line with the global industry practices and cover losses due to fire, lightning, theft, cyclone, earthquake, flood, etc. but do not cover losses due to events such as war, revolution, derelict weapons of war, nuclear radiation, etc.


4.1 The Platform Provider and/or Custodian through the Platform Provider, reserves the right to terminate any Gold Account, with or without notice to You, in the event any information or other relevant documents / information, including that pertaining to KYC, are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified The Platform Provider and/or Custodian against any and all losses, claims, liabilities costs etc. which arise out of or relating to Your failure to identify Yourself and validate Your account promptly and / or due to any incorrect documents / information.

4.2 Customer’s Obligations

4.2.1 You will be responsible for maintaining the confidentiality of the Gold Account Information, and shall be fully responsible for all activities that occur under the Gold Account. You agree to immediately notify the Platform Provider and/or Custodian of any unauthorized use of the Gold Account Information or any other breach of security. Custodian or the Platform Provider cannot and will not be liable for any loss or damage arising from Your failure to comply with this section. You may be held liable for losses incurred by Custodian or the Platform Provider or any user or visitor of the Platform due to authorised or unauthorised use of the Gold Account, as a result of your failure in keeping the Gold Account Information confidential.Use of another Customer’s account information for availing of any of the Services and/or for use of the Platform is expressly prohibited.You agree that if You provide any information that is untrue, inaccurate, not current or incomplete, (or becomes untrue, inaccurate, not current or incomplete) or if the Platform Provider and Custodian has reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms, the Platform Provider and Custodian through the Platform Provider shall have the right to indefinitely suspend or terminate or block access to the Gold Account on the Platform and refuse to provide You with access to the Platform.


5.1 You can offer to buy Gold worth MMK 1000 (One thousand Kyat only) and above incremental value thereof at the market linked prices of gold shown on the Platform. Market linked prices means that these quotes are linked to the prices of gold in the commercial bullion market in Myanmar.

5.2 It is hereby clarified that such market linked prices of gold shall constitute fully binding offers and would be an invitation to offer to purchase gold at the said market prices to all Customers. Notwithstanding the foregoing, You understand that these prices may vary multiple times within a day, and accordingly Your payment obligations for any order will depend on the market linked prices then prevailing. While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.

5.3 Payment will be accepted through the payment options made available on the Platform. At the time of purchase / sale, the relevant taxes will be chargeable as applicable as per the regulations. “The Customer/User shall be responsible for its respective present and future taxes, duties and other charges, including, but not limited to, sales and purchase of this Digital Gold. It is hereby clarified that once a Customer Order is placed, You are not entitled to cancel a Customer Order, provided however that a Customer Order shall stand cancelled if the payment fails for any reason whatsoever.

5.4 The Platform Provider and/or Custodian reserves the right to cancel a Customer Order, at its sole discretion, if Your information, provided prior to placing the Customer Order, is not found acceptable and The Platform Provider and/or Custodian are of the opinion that You are not eligible to purchase gold. The Gold Account shall accordingly stand amended. The Platform Provider as well as Custodian shall have the right to freeze the Gold Account until it receives the required information and other documentation (including for the purposes of KYC) in a form and manner satisfactory to The Platform Provider and/or Custodian.

5.5 Custodian shall issue you an invoice confirming the Customer Order placed within a period of 3 (Three) business days of placing such order, and upon receiving payments against the order, in a manner it may deem fit.

5.6 Notwithstanding anything to the contrary contained in these Terms, the Platform Provider and/or Custodian shall be entitled to accept or reject a Customer, for any reason whatsoever, at its sole discretion.

5.7 In case of rejection of a Customer Order in accordance with these Terms, where payments have been received by Custodian, such payments shall be returned to You to the bank account linked to your account, subject to the terms and conditions indicated on the Platform.


6.1 You may be provided an option to sell the Customer Gold during market hours based on the sale prices on the Platform. If the prices are found acceptable to You, You shall confirm the sale request, in a form and manner acceptable to Custodian (“Sale Request”). Your Gold Account shall be debited corresponding to the quantity of the Customer Gold sought to be sold vide the Sale Request (“Sold Customer Gold”).(a) In the absence of a manifest technical error attributable to the banking systems, within a period of 24 (twenty-four) hours of the Sale Request being confirmed or such further period as may be required, the payment, pursuant to the Sale Request, shall be disbursed by Custodian at the sale prices indicated at the time of placing such Sale Request. Custodian shall arrange for such payments to be made to Your bank account, details of which are provided by You. If there is any mistake in the UPI handle, account number, ISC code etc. provided by You, Custodian / Platform Provider will not be held responsible for the same.

6.2 It is hereby clarified that Custodian and/or the Platform Provider will provide this service on a best-efforts basis and only when the commercial bullion market is in operation. Custodian and The Platform Provider do not in any way guarantee that this option will be available to You at all times. Further, the buyer of the Sold Customer Gold may be either Custodian. The Platform Provider and/or Custodian shall not be held liable for any actions of such third-party purchaser.

6.3 While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.

6.4 It is clarified that the Customer can only undertake purchase, and subsequent sale or transfer of the Gold on the Platform. It is clarified that, at present, the Customer cannot have the Gold so purchased through the Platform delivered to him, i.e. the Customer will not have the option to take the physical delivery of the Gold so purchased, and can only undertake purchase and sale transactions of Gold.


7.1 You acknowledge that the Services are for Your personal use and agree not to publish the gold prices or descriptions of gold and/or any other information displayed on the Platform (in lieu of Your access to the Platform) on any other medium. You shall not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products or services obtained from the Services.

7.2 Subject to these Terms and the Privacy Policy, You hereby grant to Custodian and the Platform Provider a non-exclusive, worldwide, royalty-free right to (a) collect, store and transmit Your data, in each case solely to the extent necessary to provide the Services to You, and (b) share Your data or interact with other people, to distribute and publicly perform and display Your data as You direct or enable through the Services. You will provide Your consent to the Platform Provider as may be required under applicable law for the use and/or sharing of any data generated by You when purchasing Gold or otherwise using the Platform for any services related to the purchasing of the Gold in such manner as the Platform Provider may stipulate in this regard. The Platform Provider may share Your data with Custodian, who, in turn, may share Your data with the Security Trustee as required to fulfil their obligations as a Security Trustee. Your data will continue to be governed by confidentiality obligations outlined in Section 21. It is hereby clarified that Custodian and the Distributor would be the joint owners of any data generated by You when purchasing the Gold on the Platform.

7.3 You represent and warrant that: (i) You have obtained all necessary rights, releases and permissions to provide all Your data to the Platform Provider and Custodian and to grant the rights granted to the Platform Provider and Custodian in these Terms and (ii) Your data and its transfer to and use by the Platform Provider and Custodian as authorized by You under these Terms do not violate any laws or rights of any third party, including without limitation any intellectual property rights, rights of privacy, or rights of publicity, and any use, collection and disclosure authorized herein is not inconsistent with the terms of any applicable privacy policies. Other than its security obligations under these Terms and the Privacy Policy, the Platform Provider and/or Custodian assume no responsibility or liability for Your data, and You shall be solely responsible for Your data and the consequences of using, disclosing, storing, or transmitting it. 

7.4 The Platform Provider and/or Custodian shall not be held liable for any loss of data, technical or otherwise, information, or for particulars supplied by You, due to the reasons beyond its control like corruption of data or delay or failure to perform as a result of a Force Majeure Event.

7.5 Custodian shall have the sole discretion to determine the locations and pin codes it may want to serve.

7.6 The provision of Services may be interrupted, including for maintenance, repairs, upgrades, or network or equipment failures. The Platform Provider and Custodian strives to keep the Services up and running; however, all online services suffer occasional disruptions and outages. The Platform Provider and Custodian are not liable for any disruption or loss You may suffer as a result.

7.7 Custodian may discontinue some or all of the Services, including certain features and the support for certain devices and platforms, at any time.


8.1 Custodian may, at its discretion, suspend Gold Account of Customers, if there appears to be fraudulent or suspicious activity in the account. If the Platform Provider and/or Custodian are of the opinion that You are involved in any unlawful activity or the Gold Account is used for any unlawful purpose, the Platform Provider and/or Custodian shall have the right to take all actions available to it, including black-listing or blocking You from using the Services on its Platform or blocking Your access to the Services through the Platform or intimating the relevant authorities of such unlawful activities.

8.2 Each of the Platform Provider and Custodian shall not be held liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Platform and / or acts / omission not attributable to it.

8.3 You shall inform immediately, in any case no later than 10 (ten) days of the transaction, of any irregularities or discrepancies that may exist in Your Gold Account, failing which it shall be deemed that there is no error or discrepancy in the account. All records maintained by the Platform Provider and/or Custodian, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.


9.1 You represent and warrant to the Platform Provider and Custodian that you have sufficient experience and knowledge to make informed decisions to purchase / sell Gold. You acknowledge that you have not relied on any information made available either by the Platform Provider or Custodian and that the Platform Provider or Custodian is not making any recommendation with respect to such purchases / sale-back of Gold. No relationship other than seller-purchaser, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and the Platform Provider and/or Custodian.

9.2 You acknowledge that Custodian and the Platform Provider are not providing / dealing in / offering any investment product and does not offer any guarantee / assured returns. You further acknowledge that value of Gold may vary depending on various factors and forces.


10.1 The Platform may allow You to post Your review and experience of using the Platform (“Reviews”) in order to improve the Platform and the user experience.

10.2 You, being the originator of the Reviews, are responsible for the Reviews that You upload, post, publish, transmit or otherwise makes available on the Platform. You represent that all such Reviews will be in accordance with applicable law. You acknowledge that The Platform Provider and/or Custodian does not endorse any Reviews on the Platform and is not responsible or liable for any Reviews. The Platform Provider reserves the right to disable access to the Reviews on the Platform.

10.3 You hereby grant the Platform Provider and/or Custodian a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Reviews in any manner as deemed appropriate by the Platform Provider and/or Custodian in any form including but not limited to print, broadcast, online and across any and all websites and platforms owned by the Platform Provider.

10.4 You further represent and warrant that while posting any Reviews on the Platform You shall not use any offensive, libellous, derogatory, hateful or racially or ethnically objectionable language. Further, You shall not post any content on any part of the Platform that is obscene, pornographic, constitutes an “indecent representation of women” 


11.1 In accordance to grievance redressal mechanism, the contact details of Grievance Officer for the purposes of the Gold and the Gold related transactions are:

KBZ Bank (custodian)

Name: TBD

E-mail ID: TBD


Customers can reach out to the KBZPay Customer Service via the call.

11.2 For any query or grievance pertaining to any matter other than those specified in Section above, the Customer may approach the customer service team of the Platform Provider.


12.1 Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of the Platform Provider or Custodian. Therefore, the Platform Provider or Custodian shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities (including in any device used to connect to the Platform), or to any other cause beyond Distributing Partner’s or Custodian’s control or anticipation.


13.1 Neither party will be liable to the other for any loss of profits, loss of data, loss of use, cost of cover, business interruption or other special and incidental, indirect, punitive or consequential damages, howsoever caused, under whatsoever theory of liability, arising from the performance of, or relating to, this terms and conditions, unless either party causing loss did so willfully, negligently or without the due care and skill required for someone in the position of that party.

13.2 You hereby acknowledge that Custodian and/or the Platform Provider (including but not limited to its, directors, employees, agents or partners) shall not be held liable to You for any special, consequential, incidental, and exemplary or punitive damages, or loss of profit or revenues. Custodian and/or the Platform Provider shall also not be liable under any circumstances for damages arising out or related in any way to Your inability to access, or Your difficulty in accessing the Platform to avail of any Services, any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the Platform by any third party, any loss of Your data, any claim relating to Your data or content from the Services and/or Your failure to keep the Gold Account Information secure and confidential. You further agree that Custodian shall not be held responsible in any manner whatsoever for any and all acts or omissions of the Platform Provider, any Intermediaries or any other third party whosoever including (but not limited to) any person whose device has been used by You to access the Platform and/or any person appointed/nominated by the Platform Provider for the purposes of accepting/collecting any payments from You for the purchase of Gold. Likewise, The Platform Provider shall not be held responsible in any manner whatsoever for any and all acts of any third party, Custodian or other Intermediaries.


14.1 The Customer agrees to defend, indemnify and hold harmless KBZ Bank against any and all claims, losses, penalties, causes of action, damages, liability, costs, expenses (including but not limited to reasonable attorney fees) or claims caused by or resulting from the use of the services directly or indirectly, whatsoever (“Losses”) which the Platform Provider and/or Custodian and/or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Platform and/or any device used by the Customer to access the Platform; (ii) by reason of the Platform Provider and/or Custodian acting in good faith and taking or refusing to take or omitting to take action on the Customer’s instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or non-compliance of the Terms and relating to the Gold Account; and/or (iv) fraud or dishonesty relating to any transaction by the Customer.


15.1 The Customer is obliged to return any excess funds inaccurately credited due to erroneous transactions by a third party or by the Bank or for any reason. Where such funds do not rightfully belong to the customer, the Bank may deduct such excess deposits without any restriction, notice or by all reasonable other means.


16.1 As a condition of the use of services, the Customer warrants to KBZ Bank that the Customer will not use services for any unlawful purpose. The Customer agrees to abide by all applicable laws, rules, regulations and statutory requirements regarding the use of services.

16.2 All information, content, materials and services included on or otherwise made available to you through the platform (collectively, the contents) are provided by custodian and the platform provider, on an “AS IS,” “AS AVAILABLE” basics, without representations or warranties of any kind. Custodian and/or the platform provider makes on representations or warranties of any kind, express or implied as to the operation of the platform, the accuracy or completeness of the contents and the accuracy of the information. Custodian and/or the platform provider shall have no responsibility for ant damage to your computer system or loss of data that results from the download of any content, materials, document or information or any other losses incurred by you for use of the platform. You expressly agree that the use of the platform is at your sole risk. Custodian and/or platform provider will not be liable for any damages of any kind arising from the use of the platform or the service or the contents including without limitation, direct, indirect, consequential, punitive and consequential damages, unless otherwise specified in writing. To the full extent permitted by law, Custodian and/or the platform provider disclaims any and all representations and warranties with respect to the platform ( or any party thereof) and its contents, whether express or implied, including without limitation warranties of title, merchantability and fitness for a particular purpose or use.


17.1 KBZ Bank is an owner of all intellectual property rights, whether in contents or wording, pictures, signs, logo, trade service marks, trade name as well as all design works, in all documents and websites of KBZ Bank and KBZPay . The Customer must not exploit the intellectual property right of KBZ Bank or make any advertisement without receiving prior written consent from KBZ Bank. The Customer shall not perform or allow any third party to perform any action that might cause damage to the image, trademark, trade name or other intellectual property right of KBZ Bank.

17.2 The Customer hereby acknowledge that the Services constitute original works and have been developed, compiled, prepared, revised, selected, and arranged by Custodian respectively through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes valuable intellectual property of Custodian and such others. You thereby agree to protect the proprietary rights of Custodian during and after the term of these Terms. You may not selectively download portions of the Platform without retaining the copyright notices. You may download material from the Platform only for the purpose intended by these Terms. Any infringement shall lead to appropriate legal proceedings against You at appropriate forum for seeking all available remedies under applicable laws of Myanmar.


18.1 The Customer understands that KBZ Bank shall not be liable for any failure of or delay in the performance of this services for the period that such failure or delay is due to causes beyond its reasonable control, including but not limited to acts of God, war, strikes or labor disputes, embargoes, government orders, fire, flood, epidemic, torrential rain, storm or other extreme weather conditions, riot, insurrection, civil commotion, sanctions, boycott, computer hacking, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of KBZPay and KBZ Bank and which KBZPay and KBZ Bank is not able to overcome, failure of electricity, equipment failure, or any other force majeure event. KBZ Bank performance of this services will, to the extent that it is prevented, hindered or delayed by such circumstances, be suspended until such circumstances cease to exist. KBZ Bank will not be liable to the Customer or any other party or be considered in breach of this terms and conditions for a failure to perform, or delay in performing, any such obligation set out in this terms and conditions while those circumstances continue.


19.1 Each of the provisions of this terms and conditions shall be several and distinct from one another. If any of the provisions of these terms and conditions becomes invalid, void, illegal or unenforceable in any respect under any law, the validity, legally and enforceability of the remaining provisions shall not in any way be thereby affected or impaired.


20.1 KBZ Bank shall have the right to terminate this services or any access or KBZ Bank related services in full at its discretion for any time, with or without cause, effective immediately.

20.2 Termination of Services by Custodian

20.2.1 Custodian, in its sole discretion may terminate access to or may require the Platform to terminate access to, all or any portion of the Platform or Your ability to access any Services through the Platform at any time for any reason including termination for breach of any of these Terms or occurrence of a Customer EoD or the Privacy Policy. The term “Customer EoD” shall mean any default by a Customer of its obligations owed to the Security Trustee, under the Security Trustee Agreements provided that for the purposes of enforcing the hypothecation created by You in favour of the Security Trustee, the Security Trustee would be required to first obtain a suitable order / direction passed in its favour from a competent judicial or statutory authority having jurisdiction in the matter.

20.2.2 These Terms shall further stand terminated: if Custodian is adjudged bankrupt or declared insolvent; if Custodian ceases to carry on its business or has communicated to the Security Trustee any intention to cease to carry on its business; if Custodian breaches any of the terms and conditions under the Security Trustee Agreements or Terms and Custodian does not remedy such breach within 60 (Sixty) days of being called upon to do so by the Security Trustee; upon any corporate action (excluding any third party corporate action), legal proceedings or other procedures or steps being taken in relation to the suspension of payments, winding up, dissolution, administration, provisional supervision or reorganization or restructuring (by way of voluntary arrangement, scheme of arrangement or otherwise) of Custodian; upon Custodian commencing a voluntary proceeding under any applicable bankruptcy, insolvency, winding up or other similar applicable law now or hereafter in effect, or consenting to the entry of an order for relief in an involuntary proceeding under any such applicable law, or consenting to the appointment or taking possession by a receiver, liquidator, assignee (or similar official) for the whole or a substantial part of its property or takes any action towards its re-organization, liquidation or dissolution; upon an order being made for the winding up, bankruptcy or dissolution of Custodian, or an application is admitted for initiating any corporate insolvency resolution process against Custodian in accordance with Applicable Law; upon any encumbrances lawfully taking possession, or a liquidator, judicial custodian, receiver, administrative receiver or trustee or any analogous officer having been appointed in respect of the whole or a substantial part of the property of Custodian, or an attachment, sequestration, distress or execution (or analogous process) being levied or enforced upon or issued against whole or a substantial part of the assets or property of Custodian, or any action has been taken or suffered against Custodian towards liquidation or dissolution or similar reorganization; or upon a liquidator or provisional liquidator being appointed to Custodian or a receiver, receiver and manager, trustee or similar official being appointed in respect of custodian or any of its assets, or an event analogous.

20.3 Consequences of Termination of Service by Custodian

20.3.1 You acknowledge that the termination of Your access to the Platform and Services may be affected without any prior notice, and the Gold Account may be immediately deactivated or deleted and all related information and/or bar any further access to the Gold Account the Platform or the Services. Further, You agree that The Platform Provider and/or Custodian shall not be liable for any discontinuation or termination of Services by any third party.

20.3.2 None of Your content shall remain accessible on the Platform upon termination. This information cannot be recovered by You, once the account is terminated.

20.3.3 The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.


21.1 The Customer acknowledges that KBZ Bank reserves the right to amend, modify or substitute any provisions of this terms and conditions or to the services and/or any charges at any time for any reason at its sole discretion and without any prior notice. The Customer shall be responsible for regularly reviewing these terms including amendments thereto as may be posted on the website.

21.2 Accessing, browsing or otherwise using the Platform indicates Your agreement to all the terms and conditions under these Terms. You are advised to read these Terms carefully before proceeding. By impliedly or expressly accepting these Terms, You also accept and agree to be bound by all policies, including but not limited to the privacy policy of the Platform Provider and Custodian (“Privacy Policy”), as amended from time to time. 

21.3 You may not use the Platform or avail of the Services if You do not accept the Terms or are unable to be bound by the Terms. As a condition of Your access to and use of the Platform or the provision of any Services to You using the Platform, You agree that You will comply with all applicable laws and regulations in Myanmar when using the Platform. If the Custodian is of the opinion that the Gold Account is being used by You for any unlawful purpose, the Custodian shall have the right to take all actions available to it, including black-listing or blocking You from using the Services through the Platform or intimating the relevant authorities of such unlawful activities.


22.1 The Customer agrees that KBZ Bank may contact, inquire, maintain, collect, disclose and use any or all information concerning the Customer as necessary and appropriate or as KBZ Bank deems beneficial to the Customer in receiving information on other product and/or service. The Customer agrees and confirms that KBZ Bank is required to provide information to any court or government authorities.

22.2 As elaborated under the Privacy Policy, the Platform Provider and Custodian will keep all confidential information confidential, including Your personal information, and shall not disclose it to anyone except as required by the laws and regulations in Myanmar, and shall ensure that such confidential information is protected with security measures and a degree of care that it would apply to its own confidential information. The Platform Provider and Custodian acknowledges that its employees, directors, agents and contractors shall use the confidential information only for the intended purpose for which it is provided. The Platform Provider and Custodian shall use all reasonable endeavors to ensure that its employees, directors, agents and contractors acknowledge and comply with the provisions of these Terms of confidentiality as if such person was subject to these Terms of confidentiality.


23.1 This terms and conditions is made in both English and Myanmar and both versions shall be equally authentic and effective. In case of any discrepancy between two versions, the Myanmar version shall prevail.


24.1 These terms and conditions shall be governed by, and construed in accordance with, the laws of the Republic of the Union of Myanmar and the Courts in Myanmar shall have exclusive jurisdiction to solve any dispute arising from or under these terms and condition.


25.1 KBZ Bank is subject to anti-money laundering laws in the Republic of the Union of Myanmar and certain countries, which may prohibit KBZ Bank from entering or concluding transactions involving certain persons or entities. 

25.2 The Customer must provide all information required by KBZ Bank in order to manage its anti-money laundering or counter-terrorism financing and risks from the economic trade sanctions or to comply with any other laws and regulations of the Republic of the Union of Myanmar.

25.3 The Customer declares and undertakes that the process of any transactions by KBZ Bank will not breach any of the laws in Myanmar or any other country.


26.1 The Customer shall not assign its rights or obligations under this terms and conditions, in whole or in part, nor enter into any subcontract to perform any portion of this terms and conditions, without the written consent of KBZ Bank.


27.1 Failure or delay on part of either party to enforce any provision(s) of this terms and conditions at any point of time shall not be construed to be a waiver by such party of such rights thereafter to enforce each and every provision of this terms and conditions.


28.1 Nothing in this terms and conditions shall be construed as to create the relationship of employer-employee, partners, collaborators, joint-venture or principal-merchant between the parties hereto. The parties shall be independent contractors and neither party shall bind the other by its acts, deeds or omissions.


29.1 Questions regarding our Conditions of Usage, Privacy Policy, or other policy related material can be directed to our support staff by clicking on the “Contact Us” link or users can email us at: *****