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CoolPay Device Financing · Sri Lanka

End User Licence Agreement

The terms that apply to every device financed through CoolPay.

This End User Licence Agreement (“Agreement” or “EULA”) is a legally binding agreement between Universal Business Solutions (Pvt) Ltd, operating under the brand CoolPay, a company duly incorporated under the laws of Sri Lanka and having its registered office at No. 3/3, Kidagammulla, Gampaha (“Company”, “Lender”, “We”, “Us”), and the individual or entity purchasing and/or using the financed device (“User”, “Customer”, “You”).

By activating, using, or retaining possession of the device financed under this agreement, You acknowledge that You have read, understood, and agreed to be bound by the terms and conditions of this EULA.

1. Definitions

1.1 Device means The Smartphone or any electronic device financed under a device financing or hire-purchase arrangement.

1.2 Financing Agreement means the loan, hire-purchase, lease, or installment payment agreement executed between the Company and the User.

1.3 Software means any embedded software, firmware, operating system, device lock, tracking, or management application installed on the Device.

1.4 Outstanding Amount means any unpaid installment, penalty, interest, or other amount payable under the Financing Agreement.

2. Grant of Licence

2.1 The Company grants You a limited, non-exclusive, non-transferable, revocable licence to use the Software solely for personal or business use in accordance with this Agreement.

2.2 Ownership of the Software and all intellectual property rights therein shall at all times remain with the Company or its licensors.

3. Ownership of the Device

3.1 Legal ownership of the Device shall remain with the Company until full settlement of all amounts due under the Financing Agreement.

3.2 Upon full payment, ownership of the Device shall automatically transfer to the User, subject to applicable laws.

4. Device Management & Access Control

4.1 The User acknowledges and agrees that the Device may include remote management, monitoring, locking, restriction, or data access control features.

4.2

In the event of:

  • Non-payment or delayed payment
  • Breach of the Financing Agreement or this EULA
  • Fraudulent or unlawful use

The Company reserves the right to remotely restrict, partially lock, or fully disable the Device, with or without prior notice, as permitted under Sri Lankan law.

4.3 Upon full settlement, the Company shall remove or deactivate such restrictions within a reasonable period.

5. User Obligations

The User agrees to:

  • Make all payments on or before the due dates
  • Keep the Device in good condition
  • Not tamper with, remove, bypass, or alter the Software
  • Not sell, lease, pledge, or transfer the Device before full settlement
  • Immediately notify the Company of loss, theft, or damage

6. Data Collection & Privacy

6.1 The User consents to the collection and processing of limited device information including IMEI, serial number, device status, payment status.

6.2 All data shall be handled in accordance with the Personal Data Protection Act No. 9 of 2022 (Sri Lanka).

6.3 The Company shall not access personal content such as messages, photos, or contacts, except as required by law.

7. Default & Termination

7.1

This licence shall automatically terminate upon:

  • Full payment and licence expiry
  • Persistent default or material breach
  • Repossession of the Device

7.2 Upon termination, the Company may permanently disable the Software and enforce recovery actions.

8. Limitation of Liability

8.1 The Company shall not be liable for any indirect, incidental, or consequential damages including loss of data, income, or business.

8.2 The Company is not responsible for manufacturer defects, network failures, or third-party services.

9. Indemnity

The User agrees to indemnify and hold harmless the Company against any losses, claims, or damages arising from misuse of the Device or breach of this Agreement.

10. Governing Law & Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of the Democratic Socialist Republic of Sri Lanka.

The courts of Sri Lanka shall have exclusive jurisdiction.

11. Amendments

The Company reserves the right to amend this EULA from time to time. Continued use of the Device constitutes acceptance of such amendments.

12. Severability

If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

13. Acceptance

By signing the Financing Agreement, pressing the acceptance button, or activating the Device, the User confirms acceptance of this End User Licence Agreement.

— End of Agreement —