Terms of Use

01Zanzibar Digital Free Zone

1. Background. ZDFZ is a digital jurisdiction and regulatory ecosystem established under the laws of Zanzibar to facilitate technology, innovation, digital services, and globally connected enterprise within a regulated environment designed to support the growth of the digital economy through legal certainty, streamlined administration, transparency, and regulatory compliance.
2. These Terms. By opening a DR Account, you are entering into a legally binding agreement with us and agreeing to comply with all laws, regulations, rules, circulars, orders, or awards applicable within the ZDFZ. These Terms will govern your use of the Services and establish your identity, how we will provide the Services to you, how these Terms may be changed or terminated, and what to do if there is a conflict. These terms are subject to the authority of OurWorld Zanzibar, as Regulator of the ZDFZ, and shall govern your use of any Digital Asset or other Services within, from or in connection with the ZDFZ.
3. Additional documents. These Terms refer to a number of additional rules and regulations that govern norms and legal bodies which also apply to your use of the DA Services. This includes:
   1. the Zanzibar Digital Free Zone Charter, as well as Zone Regulations, Rules, Circulars, Awards, or Orders applicable within the ZDFZ. Commercial and Virtual Asset Regulations from the Zanzibar Digital Economic Zone.
   2. The Fee Structure found on the ZDFZ website.
4. Binding nature. You acknowledge that you will be bound by, and agree that you will comply with, any relevant additional terms and conditions that apply to your use of the Services.

02Eligibility

1. Eligibility criteria. To be eligible to register for a DR Account and use the Services, you must:
   1. be a natural person, with the full authority and capacity to (1) access and use the Services; and (2) enter into and comply with your obligations under these Terms;
   2. be at least 18 years old;
   3. not have been previously suspended or removed from using the Services;
   4. not be included, or related to anyone included, on any United Nations, European Union, or United States Government sanctions lists;
   5. not currently have an existing DR Account.
2. Amending our eligibility criteria. We may amend our eligibility criteria at any time at our sole discretion. Where possible, we will give you notice in advance of the change. Where we are unable to give you advance notice, we will let you know of the change as soon as possible after it is made.

03Communication

1. How you can contact us. If you have questions, feedback or complaints you can contact us via our Support Team at contact@ourworldzanzibar.com. These Terms may specify contact details for particular notices.
2. How we will contact you. We will contact you using the details you provide to us. This includes contacting you by email, SMS messages or phone calls. It is important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, we will not be held liable if you do not receive information, notices or other important information from us.

04Services

Services may be provided by the OWZ Group or any other authorized provider, as specified in these Terms, any Product Terms, or any additional terms.

05Fees and calculations

1. Payment of fees. You agree to pay all applicable fees in connection with your use of the Services as set out on the Fee Structure page on our website, or as otherwise informed through official communications from OWZ. You authorize us to deduct all applicable fees, commissions, interest, charges and other sums that you owe from an account that is linked to your DR Account, consistent with these Terms or any other applicable Terms in accordance with the method of calculation set out on our Fee Structure page.
2. Insufficient Assets. If there are insufficient assets in any account linked to your DR Account, you acknowledge that any amount due and payable by you under this clause is a debt immediately due to us in such amount and form (whether in the form of a Digital Asset or otherwise) as we may determine, acting in a commercially reasonable manner.

06Opening a Digital Resident Account

1. Discretion. All DR Accounts are provided at our absolute discretion. We reserve the right to refuse any application for, or revoke a DR Account, for any reason.
2. Due Diligence. We shall perform due diligence and conduct any KYC/KYB investigation we deem necessary on the natural person who has submitted an application for the registration of a Digital Resident and the creation of a DR Account. Registration may be denied at our sole, unreviewable discretion. You agree to all measures, including the sharing of personal data, required in order to comply with our responsibility to prevent the use of the ZDFZ for unlawful activity.
3. Sole benefit. By opening a DR Account you agree that you will use your DR Account only for yourself, and not on behalf of any third party. You are fully responsible for all activities undertaken in, by or through your DR account.
4. Identity verification. You will need to comply with our identity verification procedures before you are permitted to open a DR Account and access and use the DR Services, whether independently or through a third-party service, by providing us with certain information about yourself. All information that you provide must be complete, accurate and truthful. You must update this information whenever it changes. The collected information will be shared with the competent regulatory authorities of ZDFZ, and if necessary, with the Governments of Zanzibar and the United Republic of Tanzania.
5. Authorized use. You authorize us, and our designees, to make inquiries that we consider necessary to verify your identity, to protect the integrity of the ZDFZ ecosystem, including by protecting you and other Digital Residents against fraud, money laundering, financing for terrorism, and other crimes, and to take any action we deem necessary based on the results of such inquiries. When we carry out inquiries, you acknowledge and understand that your personal data may be disclosed to identity verification, compliance data recordation, credit reference, fraud prevention, or financial crime agencies and that these agencies may respond to our inquiries in full.
6. Enhanced due diligence. We may also require you to comply with our enhanced due diligence procedures by submitting additional information about yourself, providing additional records or documentation, or having face to face meetings with representatives of the OWZ Group.
7. Records. We maintain your personal data to enable your continued use of the Services, for as long as it is required in order to fulfill the relevant legal obligations, and as may be required by law such as for tax and accounting purposes, compliance with anti-money laundering laws, or as otherwise communicated to you.

07Using a Digital Resident Account

a. Services

1. Introductory Access. Limited access to the ZDFZ is granted through free (or low cost) registration of a Digital Resident and opening a DR Account. Introductory Access (or other term, to be determined) includes access to a limited number of Services identified, use of which is permitted by the OWZ Group, the composition of which can change at any time, at our sole discretion. Introductory Access does not create any right to access Services other than those chosen by the OWZ Group to be included with the initial bundle of Services included when a DR Account is opened. Any license to utilize these Introductory Access Services may be modified or revoked at any time and for any reason and without notice.
2. Additional Access. The OWZ Group shall, from time to time, identify additional registration levels, each of which provides access to additional Services within the ZDFZ, which shall include, inter alia, the ability to conduct business through and own shares in, legal entities that have separate legal personality from the Digital Resident. It shall also include the ability to issue Digital Assets and provide other forms of fintech supported services. Any license to utilize these Additional Access Services may be modified or revoked at any time and for any reason and without notice.
3. Unauthorized Use. You are responsible for the control and use of your DR Account. Accordingly, we will assume that any Instruction submitted through your DR Account has been authorized by you unless and until you notify us otherwise. It is important that you monitor your Account History to identify and promptly report any unauthorized or suspicious activity. We are not responsible for any claim or loss arising from a Transaction executed pursuant to an unauthorized Instruction unless: (a) you notified us promptly in accordance with these Terms; (b) our investigation determines that you did not authorize the Instruction, whether directly or indirectly through negligence, mistake, or failure to maintain appropriate account security; and (c) the unauthorized Instruction resulted solely from a technical failure attributable to the OWZ Group or the Platform.
4. Retention of Transaction information. To facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of all transactions related to your DR Account as long as it is required to fulfill the intended purposes.

b. Account Security

1. Primary responsibility. You are responsible for taking appropriate action to protect your hardware and data from viruses and malicious software and any inappropriate material. Likewise, you are responsible for backing up and maintaining duplicate copies of any information you store or transfer through your DR Account or the Services. We are not responsible for any claim or losses resulting from your failure to comply with this clause.
2. Security measures. At all times, you shall maintain adequate security and control of your DR Account login credentials. You are responsible for taking the necessary security measures to protect your DR Account and to keep your login credentials secure, including by:
   1. strictly abiding by all of our mechanisms or procedures;
   2. creating a strong password and maintaining security and control of your login credentials;
   3. keeping the Email Account and telephone number provided to us up to date in order to receive any notices or alerts that we may send you;
   4. never allowing remote access or sharing your computer and/or computer screen with someone else when you are logged on to your DR Account;
   5. remembering that under no circumstances will we ask you to share your passwords or 2-factor authentication codes; and
   6. logging out from the Services or the Platform at the end of each visit.
   You must keep the Email Account and login credentials secure against any attacks and unauthorized access. You must notify us immediately if you have knowledge or have reason for suspecting that the security of your Email Account has been compromised, or if there has been any unauthorized use of your Email Account.
3. Monitoring your Account History. It is important that you monitor your Account History to ensure any unauthorized or suspicious activity on your DR Account is identified and notified to us as soon as possible. You acknowledge that any Security Breach may result in unauthorized access to your DR Account by third parties and the loss or theft of any Digital Assets and/or funds held or controlled by your Digital Resident and any associated accounts, including your linked bank account(s) and credit card(s).
4. Security Breach. If you suspect a Security Breach, you must ensure that: (1) we are notified immediately and continue to be provided with accurate and up to date information throughout the duration of the Security Breach; (2) your DR Account is immediately locked via the "disable account" function on the Platform or via any other method as may be prescribed by us from time to time; and (3) you take any other steps that we may reasonably require to reduce, manage or report any Security Breach.
5. Compliance. We reserve the right to request, and you agree to promptly provide, any and all information and documents we deem relevant or necessary in connection with an actual or suspected Security Breach. You further acknowledge and agree that we may provide such information to any third party that we deem necessary in order to investigate or resolve any Security Breach.

08Personal Data

You acknowledge that we may process your personal data that you have provided to us, or we have collected in connection with these Terms. You acknowledge and agree to any and all uses of that data in connection with the Services, including through sharing it with third parties, as necessary. You agree to indemnify and hold harmless OWZ and the Government of Zanzibar from any claims arising from such use.

09Changes to these Terms

1. Method and timing. We can make changes to these Terms and any terms and conditions incorporated by reference at any time and your continued use of the Services constitutes your consent to such changes. Changes to these Terms will be published on our website and may also be notified to users separately by email, through the app or by such other means as the OWZ Group determines at its discretion. Generally, we will try to notify Users through their DR Account prior to changes to these Terms taking effect. However, we may occasionally need to make changes that are effective immediately, in which case users will be notified as soon as possible after the changes take effect. The circumstances in which changes to these Terms may take effect immediately may include, for example and without limitation, where the change is to address legal or regulatory requirements, or the changes are to make these Terms clearer.
2. When changes come into effect. Unless expressly intended to come into effect immediately, any update to the Terms will come into effect after the changes have been notified to Users. If you do not wish to accept the changes, you are free to close your DR Account in accordance with clause 10.a of these Terms. Your continued access to or use of any Services will be deemed acceptance of the updated Terms.
3. Changes to fees. We may also make changes to the fees set out in the Fee Structure page on our website, which includes introducing new fees and/or charges. If you do not wish to accept the changes, you are free to close your DR Account in accordance with the clause.
4. Acceptance of Terms. Your continued access to or use of the Services will be deemed acceptance of the updated Terms.

10Closing your account

1. Your Rights. You may terminate your DR Account at any time by following the account termination procedures as prescribed by us from time to time. You will not be charged for terminating your DR Account, although you will be required to pay any outstanding amounts owed to us. You authorize us to cancel or suspend any pending transactions at the time of cancellation, and to deduct any outstanding amounts that you owe us from your DR Account.
2. Limits. In certain cases, you may not be able to close your DR Account, including where you are trying to evade an investigation by relevant authorities; you have outstanding obligations with third parties or with us; your DR Account is subject to a freeze, hold, limitation or reserve.
3. Obligation to withdraw. If your DR Account is closed, you will be required to withdraw all Digital Assets held by your Digital Resident, including any shares held in Free Zone Entities. In the event that you fail to withdraw your Digital Assets, or if you have not accessed your DR Account for a continuous period of 90 days, you will receive notice of our intention to treat your account as dormant, and subject to dissolution consistent with the rules and regulations applicable within the ZDFZ.

11Termination, suspension, and other restrictions

1. Our right. We may at any time modify or discontinue, temporarily or permanently, any portion or feature of the Services. In particular, we may:
   1. refuse to complete, process, reverse, or block any Transaction where permitted by applicable law or regulation;
   2. terminate, suspend, or restrict your access to any or all Services;
   3. terminate, suspend, close, hold, or restrict your DR Account;
   4. refuse to transmit Instructions or information to third parties, including third-party wallet providers or financial institutions; and/or
   5. take any action we reasonably consider necessary to protect the integrity, security, legality, or regulatory compliance of the Platform or the ZDFZ ecosystem.
2. Basis for Action. OWZ shall exercise this right to modify or discontinue Services where, inter alia:
   1. we have reasonable suspicions of illicit conduct;
   2. the person logged into your DR Account is not you, or we suspect that the DR Account has been or will be used for any illegal, fraudulent, or unauthorised purposes;
   3. more than one natural person has access to and/or transacts using the same DR Account, or we suspect that the DR Account has been or will be used for any illegal, fraudulent, or unauthorised purposes;
   4. information provided by you is wrong, untruthful, outdated, or incomplete;
   5. pending submission of such information and documents in accordance with clause 8;
   6. pending submission of enhanced due diligence in accordance with clause 7.4;
   7. we reasonably consider that we are required to do so under applicable law or regulation;
   8. we have determined or suspect: (1) that you have breached these Terms or any other Terms; (2) that you have breached any express or implied warranties in these Terms, or any representations you have made; (3) that a Transaction undertaken by your Digital Resident is unauthorised, erroneous, fraudulent, or unlawful or we have determined or suspect that your DR Account or the Services are being used in a fraudulent, unauthorised, or unlawful manner; (4) there is any occurrence of money laundering, terrorist financing, fraud or any other crime in connection with your DR Account or your use of the Services; (5) the use of your DR Account is subject to any pending, ongoing or threatened litigation, investigation, or judicial, governmental or regulatory proceedings and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your DR Account activity; (6) an issue has arisen with the verification of your identity; (7) you have taken any action that may circumvent our controls such as opening multiple DR Accounts or abusing promotions which we may offer from time to time; (8) you violated the laws of Zanzibar or Tanzania or regulations issued by any of the OWZ Group; or (9) any other valid reason which means we need to do so.
   We will take reasonable steps to provide you with appropriate notice. However, there might be times when we are required not to do so.
3. Your acknowledgement. You acknowledge and agree that:
   1. the examples set out above of when we might take action to terminate, suspend, close or restrict your access to your DR Account and/or the Services is a non-exhaustive list; and
   2. our decision to take certain actions, including, without limitations, to terminate, suspend, or restrict your access to your DR Account or the Services, may be based on confidential criteria that are essential to our risk management and security protocols. You agree that we are under no obligation to disclose the details of our risk management and security procedures to you.

12Prohibited Uses

By opening and operating a DR Account or carrying out any Transaction, and without prejudice to any other restriction or limitation set out in these terms, you agree that you will not:

1. breach these Terms or any agreement entered into pursuant to, or in connection with, these Terms;
2. use the Services in a manner that violates our Prohibited Use Policy;
3. engage in fraudulent activities, or cause us to suspect that you have engaged in fraudulent activities and/or Transactions;
4. provide false, inaccurate or misleading information in connection with your use of the Services, in communications with us, or otherwise connected with these Terms.

13Indemnification and Waiver

1. Indemnification of the OWZ Group. You agree to indemnify the OWZ Group from any claim for damages related to the Services by any third-party, whether civil or criminal, in law or in equity.
2. Waiver. Agreement to these Terms constitutes a full and complete waiver of all liability arising from any claim in law or in equity that you may consider pursuing against any member of the OWZ Group.
3. Waiver of Appeal. Agreement to these Terms constitutes a full and complete waiver of any right to appeal or set aside of the award of a Tribunal or the Platform. For the avoidance of doubt, a Tribunal's award shall constitute a final award for any and all legitimate purposes.

14General Terms

1. Applicable Law. These Terms shall be governed by, and construed in accordance with, the applicable laws and regulations of the ZDFZ, including Article 10 of the Charter and the laws of Tanzania and Zanzibar.
2. Dispute Resolution. You agree to the exclusive jurisdiction of the Tanzania Arbitration Center to resolve any dispute as to these Terms or any other dispute with any member of the OWZ Group.
3. Notices. We may give notice by email to your Email Account. It is your responsibility to ensure that the Email Account is up to date and accurate. Notices may be given, and are deemed to be received, if sent to your Email Account, whether or not a notice of delivery failure is received. You may give us notices only as we direct, which may change from time to time. Any notices, consent or other communication given under these Terms must be in writing, in English, and signed or otherwise authorised by the party giving it.
4. Announcements. All official announcements, news, promotions, competitions and Airdrops will be listed on the Website. You are responsible for monitoring the Website and reading and considering these announcements.
5. Entire agreement. These Terms constitute the whole agreement between you and us with respect to the DR Services. Each party acknowledges that it has not relied on, and shall have no right or remedy in respect of, any statement, representation, assurance or warranty (whether made negligently or innocently) other than as expressly set out in the Terms or any Product Terms.
6. Assignment. You may not assign or transfer any of your rights or obligations under the Terms without our prior written consent, which may, in some cases, require additional information to be provided or enhanced due diligence to be performed. However, we may assign or transfer any of our rights or obligations under the Terms at any time to anyone else, including, without limitation, in connection with any merger, acquisition, or other corporate reorganisation involving any member of the OWZ Group.
7. Invalidity. If, at any time, any clause or sub-clause of the Terms is or becomes illegal, invalid, or unenforceable in any respect, neither the legality, validity or enforceability of the remaining clauses or sub-clauses will in any way be affected or impaired.
8. Records. You agree that we may record any telephone, email and chat conversations with you, as well as any other forms of communications, including communication used to give Instructions or effect Transactions, between you and us, and that the recordings may be used as evidence in any proceedings relating to any agreement with you. These records will be our sole property.
9. Language. These Terms may be translated into a language other than the English language. Any such translation is provided solely for your convenience. In the event of inconsistency or ambiguity, the English text will prevail.
10. Third party rights. Nothing expressed or referred to in these Terms will be construed to give any person other than the parties to these Terms any legal or equitable right, remedy, or claim under or with respect to these Terms or any clause or sub-clause of these Terms. The Terms and all of its clauses and sub-clauses are for the sole and exclusive benefit of the parties to these Terms and their successors and permitted assigns.
11. Survival. All clauses and sub-clauses of these Terms, which by their nature extend beyond the expiration or termination of these Terms, will continue to be binding and operate after the termination or expiration of these Terms.
12. Force Majeure. We will not be liable for any delay or failure to perform as required by these Terms to the extent the delay or failure is caused by a Force Majeure Event.
13. No waiver. No delay or omission by us in exercising any right or remedy under the Terms will operate as a waiver of the future exercise of that right or remedy or of any other rights or remedies under the Terms. The rights and remedies provided in the Terms are cumulative and not exclusive of any rights or remedies provided within the ZDFZ.

15Definitions and Interpretations

1. In these Terms:
   1. clause headings and numbering are for convenience only and do not affect the meaning, priority or interpretation of any clause or sub-clause of these Terms;
   2. the words "include" or "including" shall mean including without limitation and include without limitation respectively;
   3. any undertaking to do or not do a thing shall be deemed to include an undertaking not to permit or suffer the doing of that act or thing;
   4. words importing the singular include the plural and vice versa and words importing a gender include any gender; and
   5. any reference to a document is to that document as amended, varied or novated from time to time otherwise than in breach of these Terms or that document.
2. ZDFZ means the Zanzibar Digital Free Zone jurisdiction in which the Services are provided.
3. Fiat Currency means any government or central bank issued national, or supra-national, currency, or other monetary obligation denominated in such currency and which is not a Digital Asset.
4. Force Majeure Events means:
   1. any fire, strike, riot, civil unrest, terrorist act, war or industrial action;
   2. any natural disaster such as floods, tornadoes, earthquakes and hurricanes;
   3. any epidemic, pandemic or public health emergency of national or international concern;
   4. technical failures in transmission, communication or computer facilities including power failures and electronic or equipment failures;
   5. the failure of any supplier, intermediate broker, agent, principal custodian, sub-custodian, dealer, exchange, staking platform, liquidity pool, bridge provider, issuer of a Backed Digital Asset, market maker, clearing house or regulatory organisation to perform its obligations to us;
   6. any labour or trade disputes, strikes, industrial actions or lockouts (other than in each case by DR or the DR Affiliates).
5. Website means the collection of web pages and related content that are hosted into the domain https://ourworld.tf. It includes all associated services, tools, and features provided by the OWZ Group, and may encompass content such as text, images, videos, and interactive elements.
6. Platform means the underlying technology or infrastructure that supports and facilitates the Services. It includes the software, hardware, and network components that enable users to access, interact with, and utilize the Services. The Platform may also encompass additional services, systems, and integrations that provide enhanced functionality or connectivity. This term includes any associated applications, services, or tools that are made available by the operator to support the services features and user interactions.
7. Security Breach means:
   1. your DR Account(s) or any of your login credentials have been compromised;
   2. the loss, theft, or unauthorised use of any of your login credentials or any unauthorised access to and use of your DR Account or the Services on your behalf; or
   3. any other security incident (including a cyber-security attack) affecting you and/or ZDFZ or the OWZ Group.
8. Terms means these terms of use, together with any other documents expressly incorporated by reference, in each case as amended or supplemented from time to time.
9. Transaction means selling, purchasing, or entering into any other type of transactions, or agreeing to sell, purchase or enter into any other type of transactions involving Digital Asset(s), their derivatives, other asset(s) or product(s) as the OWZ Group may from time to time permit to be carried out on the Platform, and transferring Digital Assets or Fiat Currency into or out of your DR Account.