“Terms and Conditions on Using Milli Balance in Irancell JibJet Wallet”

  1. Introduction and Acceptance

These terms and conditions outline the framework for using Milli balance within Irancell JibJet wallet. By activating or using this service, the user confirms that s/he has read this document in its entirety and accepted its provisions as a binding agreement. If the user does not agree, s/he will not be permitted to use this service.

  • Definitions
    • JibJet: A digital wallet providing payment services.
    • Milli: A gold-based asset management platform owned by Sarmaye Zarrin Mandegar Company (National ID: 14011745191, Registration No.: 605987).
    • JibJet Wallet Balances: The JibJet wallet includes various balance types, each with specific features, conditions, and limitations:
      • Cash Balance: Funded via bank card. This balance has no restrictions and can be used for all purchases. It can also be withdrawn or transferred to other users.
      • Gift Balance: Allocated to users through campaigns or as cashback for specific purchases. This balance is usable across all covered services and stores but cannot be withdrawn or transferred.
      • Exclusive Balance: Similar to Gift Balance, but usable only for purchasing Irancell SMS, internet, and call packages. It expires at the end of each quarter.

Note: Other balance types may be added or removed over time, or offered in cooperation with other platforms in JibJet.

  • Total Balance: The main JibJet wallet from which payments are made. Its balance is the sum of all other balances.
    • Milli Balance: The Rial equivalent of the user’s gold asset, calculated and displayed by Milli based on the real-time gold price on the Milli platform.
  • Nature of the Service

 Milli as a gold wallet acts as the Rial supply source connected to Irancell JibJet. Irancell JibJet is the software platform that solely displays each user’s gold asset in Milli and provides the technical capability for users to conduct transactions for Rial asset supply. JibJet has no involvement in gold pricing, fees, or the logic of asset deduction or addition.

  • Connecting Milli Account

 To use this service, the user must connect his/her Milli account to Irancell JibJet. This connection is established through authentication via OTP verification and granting access permission. By doing so, the user authorizes JibJet to receive the Milli balance and use it for payments.

  • Usage in Payments

 During payment, JibJet Total Balance is calculated, including the Milli balance and other balances. Therefore, if necessary, a portion of the payment can be covered by the user’s Milli balance.

  • Note: Users cannot directly select the Milli balance during payment or prioritize it over other balances.
  • Pricing and Fluctuations

The price of gold and asset value are determined solely by Milli based on the real-time gold price, and JibJet bears no responsibility for price fluctuations. The user acknowledges that the gold deducted from the Milli balance may vary based on the real-time price, as payments via Milli are only finalized after the transaction is confirmed. The request for payment is not considered final until confirmed by the user, given the fluctuations in the gold market. Since the minimum tradable unit of gold in Milli is one milligram, if the required gold amount for a transaction is not a whole number multiple of one milligram, the required gold amount will be rounded up to the nearest higher multiple. The Rial difference resulting from the excess amount will be credited to the user’s Rial wallet in Milli. For example, if the gold needed for a transaction is 4.50 milligrams, the equivalent of 5 milligrams of gold will be converted to Rial, and the surplus equivalent to 0.50 milligrams will be added to the user’s Rial wallet.

  • Fees

All fees related to selling gold, converting it to Rial, or other Milli services are determined and applied by Milli. JibJet has absolutely no responsibility in this regard.

  • Transaction Reversal and Refunds

In case of a transaction reversal, the exact amount of the transaction will be returned to the user’s JibJet wallet in Rial. The user will have no claim to the converted gold balance.

  • Potential Unavailability or Errors in the Milli Platform

The use of Milli balance may be subject to unavailability warnings in the following cases:

  • Disconnection or unresponsiveness of the Milli service.
  • Connection errors due to technical defects and system limitations, including increased traffic, periodic updates, maintenance operations, or infrastructure upgrades.

Note: JibJet, at its sole discretion, may disconnect or restrict the use of Milli balance within its wallet. This will not prevent the users from utilizing their Milli balance on the Milli platform.

10. Responsibilities

10.1 Milli is responsible for the safekeeping and guarantee of gold assets, calculation of the Rial value, and execution of gold-related transactions.

10.2 Irancell JibJet is solely responsible for displaying the balance, managing the payment process, and submitting requests to Milli. JibJet holds no responsibility for any potential losses or damages arising from user transactions, fluctuations due to price changes, or failure to register a user’s order.

10.3 JibJet is not responsible for the gold price, user profits or losses, Milli fees, or how assets are managed in Milli. In case of any claims or objections from users, Milli will be referred to as the responsible party for follow-up and response.

11. Security and Access

JibJet’s access to Milli depends on the activation of the SIM card and its authentication via an activation code. Therefore, access may be revoked if the SIM card becomes deactivated or its ownership is changed.

12. Correction of Discrepancies

The user agrees that in the event of an error or discrepancy, JibJet or Milli, as applicable, are authorized to correct the transaction without prior permission. This may include repeating the transaction or completing an unfinished process.

13. Suspension or Termination of Service

User access will be restricted or terminated in cases of illegal activity by the user, as determined and mandated by legal authorities.

14. Amendments

JibJet may amend the terms contained in this agreement based on changing circumstances or add clauses to it, and will notify the user accordingly. Continued use of the service by the user after notification of the new terms, as per the provisions of this clause, signifies acceptance of the new version.

15. Governing Law

This agreement is subject to the laws of the Islamic Republic of Iran, and disputes shall be resolved through competent authorities.

16. Support Services

Support related to Milli balance, fees, and real-time gold prices is provided by Milli. Support concerning transactions carried out by JibJet is provided by Irancell. Users can visit the following link to review the terms and conditions of Milli platform: