P2P Trading Terms and Conditions

1. Scope of P2P Trading Terms

These P2P Trading Terms and Conditions ("Trading Terms") govern all peer-to-peer currency exchange transactions executed between buyers and merchant brokers on the Paytali marketplace. These Trading Terms supplement our general Terms of Service.

2. Marketplace Architecture: Ads & Quick Match

Paytali operates an ad-based marketplace (similar to Binance P2P) where independent verified merchants post liquidity advertisements specifying:

• Trading Pair & Direction: EGP to NGN, NGN to EGP, EGP to XOF, or XOF to EGP;
• Fixed Exchange Rate: The rate of conversion established by the merchant;
• Order Limits: The minimum and maximum transaction size in local currency minor units;
• Supported Payment Methods: Designated settlement rails (e.g., InstaPay IPN, Vodafone Cash, Nigerian NIP bank transfer, Francophone Mobile Money, or Cairo cash-out stores);
• Payment Window: The time duration (typically 15 to 30 minutes) within which the buyer must execute payment.

Buyers may either browse the ad feed to select a specific merchant or utilize Quick Match, which automatically routes the order to the highest-ranked ad based on price, merchant completion score, and verified collateral capacity.

3. Instant Match & Immediate Rate Lock

Unlike legacy cascade or merchant-confirmation workflows, Paytali enforces an Instant Match protocol:

• Upon the buyer clicking "Confirm Order", the system executes an atomic concurrency check within a Serializable transaction to verify that the merchant possesses sufficient available insurance collateral.
• The order is instantly placed in MATCHED status. There is no intermediate "waiting for merchant acceptance" stage.
• The exchange rate is permanently locked for the duration of that order. Neither party may alter the rate or requested amount after order creation.
• The payment countdown timer starts immediately upon order generation.

4. Buyer Obligations: Payment & Proof Submission

Once an order is created, the buyer must:

1. Send the exact agreed settlement amount to the merchant's designated payment details displayed in the order screen;
2. Ensure that the payment is initiated from a bank account or mobile wallet registered in the buyer's own verified legal name (third-party payments are strictly prohibited);
3. Complete the transfer and click "I Have Paid" (attaching legitimate proof of payment, such as a banking transfer receipt or InstaPay reference number) before the payment window countdown timer expires;
4. Refrain from clicking "I Have Paid" if the funds have not actually been debited from their account. Submitting false payment confirmations constitutes fraudulent conduct and triggers immediate account suspension.

5. Automatic Timer Expiry & Cancellation

If the buyer does not confirm payment and submit verifiable proof before the countdown timer reaches zero, the background job processor automatically transitions the order to CANCELLED with the reason payment_window_expired.

Upon cancellation, the merchant's locked collateral capacity is immediately restored to the marketplace pool. If a buyer transfers funds after the timer has expired, Paytali cannot guarantee merchant rate locking or fulfillment, and the buyer must open a dispute for return coordination.

6. Merchant Obligations: Payout & Order Completion

Upon receiving the buyer's payment confirmation and proof:

• The merchant must independently verify receipt of funds by logging directly into their banking app or mobile wallet. Merchants must never rely solely on SMS alerts or buyer-provided screenshots.
• Once funds are confirmed, the merchant must disburse the counterparty currency payout to the buyer's verified payment coordinates within the merchant disbursement window (typically within 15 minutes).
• After completing payout, the merchant clicks "Confirm Payout" and uploads the outbound transfer receipt.
• The buyer then verifies receipt in their destination account and clicks "Confirm Receipt", transitioning the order to COMPLETE.

7. Prohibited Trading Conduct

The following activities are strictly prohibited on the Paytali P2P Marketplace:

• Sending payments from third-party bank accounts;
• Demanding additional fees, surcharges, or rate renegotiations after an order is matched;
• Requesting off-platform communication via WhatsApp, Telegram, phone call, or email;
• Reversing or initiating chargebacks on completed commercial bank or mobile money transfers;
• Repeatedly creating orders and abandoning them to lock merchant capacity (order blocking);
• Engaging in structuring or smurfing to evade transaction monitoring thresholds.