This user agreement (hereinafter “Agreement”) regulates the relationship between Paysaxas Financial Solutions Corporation (hereinafter “Company”) and its customer (hereinafter “Customer”) when the Customer uses the Company’s service (hereinafter “Service”). This Agreement is entered into electronically via remote communication.

Prior to using the Service, the Customer shall read this Agreement carefully and accept its terms and conditions as binding. If the Customer does not accept this Agreement, they cannot use the Company’s Service.

Upon completing the Account registration and receiving confirmation from the Company, the Agreement between the Customer and the Company becomes effective. By entering into this Agreement, the Customer consents to communicating with the Company via the Service.

1. Definitions and Interpretations

Account means the Customer’s account used in relation with the Service to store Funds and execute Transactions.

Agreement means this user agreement, which applies in the relationship between the Company and the Customer when the Customer uses the Service.

AML Act means the Canadian Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations.

AML Verification means theprocess of conducting anti-money laundering (AML), know your customer (KYC) and know your business (KYB) checks and procedures as required by applicable laws and regulations of Canada (mainly, the AML Act). This verification process is conducted when establishing a business relationship with the Customer and subsequently when providing Services or Transactions to the Customer with the periodicity defined through the Company’s internal policies. It involves collecting and verifying Customer information and documentation to ensure compliance with legal and regulatory obligations related to preventing money laundering, terrorist financing, fraud, and other illicit activities.

BIC (SWIFT code) means a business identification number used for identifying payment service providers internationally, the components of which are generated according to the ISO 9362 standard; a number registered by SWIFT.

Business Day means a day when payment service providers are open for business and can complete Services.  For the purposes of this Agreement, these are other than Saturdays, Sundays or public holidays in British Columbia, Canada. For the purposes of this User Agreement, a business day commences at 09:00 Central European Time and concludes at 18:00 Central European Time.

Confidential Information means sensitive and non-public data, as per standard practice, related to the Customer or the Company, their employees, representatives, shareholders, transactions, and other proprietary information.

Customer means a natural or legal person who has entered into this Agreement with the Company.

Customer’s Representative meansan individual who has the authority to act on behalf of a Customer or a potential Customer that is a legal entity in their interactions with the Company.

Customer’s Location means:

• A Customer that is a legal person – the place of registration
• A Customer who is a natural person – the place of permanent residence.

E-Money Services means the services related to issuing, offering and redeeming of electronic money by the Company.

Fees means any rewards, onboarding fees, storage fees, charges and/or commissions paid to the Company by the Customer, which are listed in the Service Price List and reviewed from time to time.

FINTRAC means Financial Transactions Reports Analysis Centre of Canada.

Funds means the amount of fiat money (e.g. euros, pounds and dollars) that is placed into the Account and used during the execution of Transactions.

Governmental Authority means any national, federal, state, provincial, county, municipal or local government, foreign or domestic, or the government of any political subdivision of any of the foregoing, or any entity, authority, agency, ministry or other similar body exercising executive, legislative, judicial, regulatory and/or administrative authority or functions of or pertaining to government, including any authority or other quasi-governmental entity established to perform any of such functions.

IBAN means International Bank Account Number – an international current account number that identifies payment accounts – generated according to the ISO 13616 standard.

ID Code means a two-factor authentication (2FA) code delivered via an SMS message to the Customer’s telephone, which the Customer uses to identify themselves and which grants them access to request account and Transaction information from the Service, or to execute Transactions.

Payment Services means the payment services offered by the Company via the Service.

PaySaxas Group means a group of companies that provide payment solutions for international trade and which the Company is part of along with PaySaxas Oy (Finland), PaySaxas UAB (Lithuania), PaySaxas Ltd (Cyprus), and other affiliated entities.

Personal data / personal information means any information relating to an identified or identifiable individual.

Recipient means a party who receives Funds from a Transaction.

Service means the services provided by the Company to the Customer via the Company’s platform and Website related to Payment Services and E-Money Services. The Company does not provide crypto, financial advisory and investment advisory services.

Service Price List means the price list in force at the time, on the basis of which the Company charges the Customer Fees for the use of the Services. The estimated service price list can be seen here: https://paysaxas.com/fees/. The exact rates Service Price List for each Customer is available in the Customer’s personal account.

Transaction means the act by which Funds are transferred, withdrawn or made available to a Recipient.

Transaction Order means the order given by the Customer to the Company to execute a Transaction.

Website means www.paysaxas.com

2. Introduction

2.1.       The contact details of the Company are as follows:

             Name: Paysaxas Financial Solutions Corporation

             Incorporation Number: BC1402502

             MSB registration number: M23680092

             Principal Office: 422 Richards Street Unit 170 Vancouver, BC, Canada V6B 2Z4

             Phone number: +442045770051

             Email address: info@paysaxas.com

             Web address: https://www.paysaxas.com

2.2.      The Company is registered with FINTRAC as a Money Service Business in accordance with the AML Act.

2.3       The Parties will use the Service or email for providing information and making notifications.

2.4.      The Company provides the Service through the Company’s platform. The Company offers a range of products and features that cater to the diverse needs of its Customers, e.g.: foreign exchange dealing, money transferring, payment service providing.

2.5.       The Company remits payments for which the Customer has given a Transaction Order (Transaction initiated by the Customer). As a result, the Customer is generally not entitled to a refund.

2.6.       The Company and the Company’s support team provide the Service in English. The Customer agrees that they are willing to receive the Service and provide all KYC/KYB and AML Verification information in English. The Company does not warrant that the Service can be provided in the Customer’s preferred language.

2.7.       This Agreement may be published in various languages from time to time. In the event of discrepancies between language versions, the English version shall prevail.

3. Compliance with the AML act

3.1.       In accordance with the AML Act, the Company has a legal obligation to know its Customer (KYC) and ensure that the Customer does not use the Service or enable the Service to be used for money laundering or terrorist financing.

3.2.       During the Account opening process by the Company, the Customer understands and agrees that the Company may use any and all necessary legal means to ensure the Company’s compliance with the AML Act in order to provide the Service to the Customer. These means include, but are not limited to, conducting an onboarding process and subjecting the Customer to an AML Verification process. Such process is first step during the Account opening process by the Company and is subject to the payment by the Customer in the amount of first instalment as indicated in the Service Price List (the “First Instalment”).

3.3.       The First Instalment shall be paid by the Customer to the Company prior the Company shall start Account opening process for the Customer.

3.4.       The Customer understands and agrees that if the Company is unable to ensure sufficient compliance with the AML Act with regard to the provision of the Service to the Customer, the Company may unilaterally, at its sole discretion and without any advance notice, not start or stop providing the Service to the Customer and, if necessary, terminate the Agreement with the Customer. In such case the First Instalment is non-refundable to the Client.

3.5.       The Customer agrees that the Company may share any or all such information with third party companies, other companies within PaySaxas Group or individuals for the sole purpose of verifying the authenticity of the information provided by the Customer.

4. Rights and Responsibilities of the Customer

4.1.       Where the Customer is a natural person, they must be over the age of 18 to use the Service. By creating an Account and/or using the Service, the Customer represents and warrants that the Customer can accept this Agreement as binding, the Customer is not barred from using the Service under any laws, and the Customer will comply with this Agreement and all applicable local, state, national and international laws, rules and regulations.

4.2.       In addition to section 4.1, where the Customer is a legal person, the Customer represents and warrants that they are established according to relevant legislation in the Customer’s Location. The Customer may not have their main activity prohibited by any local, state, national or international laws. The Customer’s Representative warrants and agrees that they have the capacity and authority to enter the Customer into this Agreement on behalf of the Customer.

4.3.       The Customer agrees to use the Service only for the purposes permitted by the Agreement and any applicable laws, regulations or generally accepted policies or guidelines in the relevant jurisdiction.

4.4.       The Customer is solely responsible for the electronic devices, communication devices and other such devices and matters such as hardware condition, internet connection, antivirus, backup, and other similar technologies the Customer uses to access the Service.

4.5.       The Customer shall not disclose their login credentials related to the Account to anyone. If the Customer discloses their login credentials to any party, the Customer is responsible for all possible consequences and/or direct or indirect damages therein.

4.6.       The Customer is responsible for all the information they submit to the Company. The Customer represents and warrants that the Customer provides the Company with the correct, sufficient and necessary information as requested by the Company at any given time in order to enter into this Agreement and use the Service. The Company has the right to charge the Customer for the costs for not notifying the Company about changes in the Customer’s information.

4.7.       The Customer shall not do or take up any actions which can hinder, interfere, disable, harm or otherwise disrupt the technical and/or operational functions of the Service, the Company’s equipment and/or network.

4.8.       The Company makes reasonable efforts to ensure that the Service is secure and free from viruses and other malicious attacks. However, the Customer is solely responsible for protecting their equipment and software from viruses, malicious programs, and other security threats on the internet.

4.9.       The Customer agrees to use the Service only according to the terms of this Agreement.

4.10.     Any unauthorized access to the Service is prohibited. The Customer must notify the Company immediately if their Account has been used or it is suspected to have been used in an unauthorized way.

4.11.      The Customer shall not change or modify any parts of the Service, including (but not limited to) the Account balance, by using illegal means and/or malicious software.

4.12.      By using the Service, the Customer agrees that all actions regarding the Service are carried out solely by the Customer and the Customer bears exclusive responsibility for the consequences of their actions.

4.13.      Currently the Company does not provide Services to residents of Quebec or British Columbia.

5. Rights and Responsibilities of the Company

5.1.       The Company owns and retains all proprietary rights in the Service, and in all content, trademarks, trade names, service marks and other intellectual property rights related thereto. The Service contains the copyrighted material, trademarks, and other proprietary information of the Company and its licensors.

5.2.       The Customer agrees to not copy, modify, transmit, create any derivative works from, make use of, or reproduce in any way any copyrighted material, trademarks, trade names, service marks, or other intellectual property or proprietary information accessible through the Service or the Website. The Customer agrees to not remove, obscure, or otherwise alter any proprietary notices appearing on any content, including copyright, trademark and other intellectual property notices.

5.3.       The Service is provided on an “as is” and “as available” basis. The Company does not guarantee that the Service is usable at any given time or that the Service works without interruption. The Company does not guarantee the uninterrupted and continuous operation of the Service or other equipment and/or systems used in the execution of the Service.

5.4.       The Service may enable the Customer to view, access, communicate and interact with third party sources, for example, third party websites and services. The Company does not assume any responsibility for the content, actions, or practices of any such sources. The Customer’s interaction with such a source and the Customer’s use of, and reliance upon, any content provided by such source is at the Customer’s sole discretion and risk.

5.5.       The Company is not responsible for the content of the Service or its correctness, except for the content generated by the Company. Thus, the Company is for example not responsible for information the Customers disclose through the Service.

5.6.       The Company may provide information about the Customer and/or its financial transactions to government authorities and law enforcement agencies. The Company reserves the right to report any suspicious financial transaction to the relevant government authorities, including law enforcement agencies.

5.7.       The Customer agrees that the Company, at its sole discretion, may terminate the Account or the Customer’s right to use the Service and remove and discard any content within the Service, at any time and for any reason.

5.8.       The Company has a right, at its own discretion, to freeze a Customer’s Account in case of suspicious activity. In such an event, the Company will notify the Customer and unfreeze the Account after receiving information from the Customer that the Account is secure. If there is a change in the Customer’s data and the Customer does not disclose these changes to the Company within five (5) Business Days, the Company will have the right to terminate the Account.

6. Use of the Account

6.1.       The Account is Customer-specific, meaning only the Customer or the Customer’s Representative shall have access to the Account.

6.2.       The Customer can use the Account to execute Transactions using the Payment Services provided by the Company at any given time.

6.3.       The Customer can add Funds to the Account via bank transfer, using another financial institution’s payment services or by using the payment instruments accepted by the Company from time to time. The Customer can send, transfer and receive Funds to and from their Account within the limits of the Service’s features at any given time. Funds cannot be deposited to the Account in cash. The primary purpose of the Account is to allow the Customer to make and receive payments.

The methods of payment that may be used by Customers: payment between payment the Accounts, payments to/from the Account.

Methods of payment between the Accounts:

• transfer; or
• payment initiated by the paying party through the beneficiary.

Methods of payment associated with the Account:

• deposit to the Account; or
• transfer from the Account.

6.4.       The Customer is not allowed to use Funds within the Account as collateral, unless otherwise agreed with the Company.

6.5.       The Account is multi-currency, allowing the Customer to deposit Funds in various currencies and conduct Transactions in different currencies. The list of available currencies may change from time to time based on the Company’s unilateral decision.

6.6.       The Customer will have only one Account assigned to them. Each Customer that is a natural person may use the Account solely on their own behalf. The Account for a legal person must be used exclusively by the Customer’s Representative or other individuals to whom the Customer’s Representative has granted access to the Account in accordance with the procedure specified below in section 6.7.

6.7.       The Customer’s Representative may grant access to the Account to employees of the Customer or other designated individuals. In order to do so, the Customer’s Representative must provide the Company with information about such designated individuals, as requested by the Company. The Company may request a notarized application from the Customer’s Representative for granting access to the Account to designated individuals.

6.8.       The Company does not assume any responsibility for the actions or inactions of the designated individuals to whom the Customer’s Representative has granted access to the Account. The Customer’s Representative is solely responsible for ensuring that the designated individuals comply with the terms and conditions of this Agreement and any applicable law.

6.9.       Creating an Account is not to be construed as the Customer having a partnership, employment, joint enterprise, franchising or other similar relationship with the Company.

6.10.     Upon approval of the Customer’s registration and opening of the Account, the Company, at its sole discretion according to the Applicable Law or requirements imposed by banking partners or other financial institutions, may assign limits, including (but not limited to):

• maximum number of Transactions in a day or month; and
• maximum value of each Transaction.

These limits may be revised from time to time.

7. Transactions in the Service

7.1.       A Transaction Order’s execution shall begin when the Customer has provided sufficient information to execute the Transaction Order and consented to the execution of a Transaction. Transaction will be processed automatically upon placing the Transaction Order.

7.2.       The Recipient’s name, Account identification information/bank account number (IBAN) and BIC (when applicable and in case of non-SEPA payments) are used as the Recipient’s identifying information. In addition, the Transaction Order must contain the Transaction value and the currency used.

7.3.       Before submitting the Transaction Order via the Service, the Customer will be supplied with the relevant details concerning the order.

7.4.       Once the Customer has issued the Transaction Order, it can be corrected or cancelled according to section 10 of this Agreement.

7.5.       The Customer acknowledges that exchange rates can fluctuate rapidly, and the availability of the quoted rate depends on promptly fulfilling the agreed-upon obligations. The Company retains the right to cancel or suspend the Transaction if the Customer does not promptly provide the requested information or Funds or if the Company is forced to do so for some other reason.

7.6.       Transaction times depend on the selected currency and payment method. The Company cannot guarantee the Customer`s ability to transfer Funds to/from all payment service providers. The Company will only execute Transactions on the same Business Day if the Funds necessary for the execution of a Transaction Order are available, unless the execution is prevented by a technical problem or another similar obstacle.

7.7.       Instances where the Service may not be provided:

1. insufficient AML Verification status (if the Customer has not completed the AML Verification to the required level, they should provide additional documents and complete the AML Verification), or compliance with the AML Act;
2. there are not enough Funds on the Account;
3. the Recipient’s IBAN or BIC are not correct;
4. the Customer breaches this Agreement; and/or
5. other instances, as provided by this Agreement or law.

7.8.       The Customer should contact the Company’s customer support at clientsupport@paysaxas.com immediately if they are unable to make a Transaction and the reason is not clear, or the system is showing an unknown error. The Company reserves the right not to disclose the reasons for the Company’s non-execution of certain payments if such payments were not executed due to legal requirements or limitations.

7.9.       The Company has the right to amend a typing error, an erroneous invoice or a similar technical error in the transmission of payments based on its own error, even if the payment has already been transmitted to the Recipient, within a reasonable time after the error occurred. The Company will immediately notify the Customer of the error and its correction in the Service.

7.10.      The Funds transferred or exchanged by the Customer to Account belongs only to the Customer and cannot be considered as the Company’s funds.

8. Account Security

8.1.       The Service is offered and will be executed using the Company’s back office software. The Company uses modern technologies in order to ensure the safety of Accounts but cannot guarantee the absence of hacker attacks or the absence of other malicious actors.

8.2.       The Customer undertakes to use all the measures possible to protect their Account, including:

• using only reliable equipment (without authorized access of third parties);
• not using public networks while logged into the Account;
• not sharing provided login credentials with third parties;
• informing the Company if they discover suspicious activity related to their Account; and
• changing their login credentials in case they become or the Customer suspects them to become known to third parties or in case of suspicious activity.

8.3.       The Company implements two-factor authentication (2FA) in the Account login process to minimize the risks of unauthorized access to the Customer’s Account. The Company is not liable for any consequences resulting from the Customer’s transmission of the ID Code obtained during the 2FA process to third parties.

8.4.       The Company assures, and the Customer agrees, that within the use of the Services, the Company will never request the Customer’s login details for access to their Account. The company will not initiate a change of Customer data autonomously. The Customer is responsible for ensuring the security of their password and should not disclose it to third parties. In the event of suspected unauthorized access to the Account, the Customer undertakes to promptly notify the Company.

8.5.       The Customer shall not introduce viruses or other malicious programs or any other material that is harmful or technologically hazardous, either to the Service or through it.

8.6.       The Customer shall not attempt to gain unauthorized access to any part of the Service, the server on which the Service is stored, or any other server, computer, or database connected to the Service.

8.7.       For the purpose of ensuring the security of the Account, the Company may restrict the execution of Transactions if the Transaction was made using a VPN. In such cases, the Company, according to its internal policies, has the right to request confirmation from the Customer that the Transaction is authorized by such Customer.

8.8.       The Company does not bear any responsibility in the event that third parties gain access to an Account with or without the Customer’s authorisation, except in cases where it occurred due to the Company’s own fault.

9. The Company’s Liability

9.1.       The Company is only obliged to compensate the Customer for any direct damage caused to the Customer by the Company’s breach of an applicable law or the Agreement. The Customer is not entitled to compensation from the Company if the Customer does not notify the Company of the reason for the compensation within a reasonable time after having become aware of the reason for compensation.

9.2.       The Company shall not be liable for any indirect damages suffered by the Customer, unless the Company has caused the damage intentionally, by acting in gross negligence or by breaching its obligations under the applicable Law.

9.3.       The Company shall not be liable for damages if the performance of the Company’s obligations under the Agreement or an applicable law would be contrary to another applicable law.

9.4.       The Company shall not be held responsible for any losses, damages, or other consequences arising from events that are beyond the Company’s control (force majeure-events), including, but not limited to: acts of third parties, acts of God, government actions, political unrest, acts of terrorism, war, strikes and labor disputes, pandemics and/or epidemics, power outages and/or infrastructure failures, transportation disruptions, technological failures, and/or other unforeseeable events which are beyond the Company’s control.

9.5.       The Company shall not be held responsible and shall not cover any losses incurred by the Customer where the Customer’s Representative has not obtained the necessary corporate approvals from shareholders, beneficiaries, or other individuals as required by internal corporate documents, shareholder agreements, and/or other relevant documents related to the Customer or required by law.

9.6.       The Customer who has suffered losses, shall take all possible actions to limit these losses. If the Customer fails to do so, the Customer will be liable for damages in this regard.

9.7.       The Customer is not entitled to compensation due to the termination of this Agreement or due to the termination of the Service.

9.8.       To the fullest extent allowed by applicable law and this section 9, in no event will the Company, its affiliates, business partners, licensors or service providers be liable to the Customer or any third person for any indirect, reliance, consequential, exemplary, incidental, special or punitive damages, including without limitation, loss of profits, loss of goodwill, damages for loss, corruption or breaches of data or programs, service interruptions and procurement of substitute services, even if the Company has been advised of the possibility of such damages.

9.9.       Some jurisdictions do not allow the exclusion or limitation of certain damages, hence some or all of the exclusions and limitations in this section may not apply to the Customer.

11. Confidentiality

11.1.       The Company will not share, make public or otherwise transfer Confidential Information regarding the Customer and/or prospective Customer, except to:

• companies within the PaySaxas Group, the Company’s representatives as required in the ordinary course of the Company’s business operations;
• Company’s AML/KYC providers, banking partners or other financial institutions to facilitate Account opening; and
• other parties and government authorities to the minimum extent required by an order of any court of competent jurisdiction or by any applicable law.

11.2.       The Customer agrees to keep secret and confidential any Confidential Information concerning the Company that they receive as a result of this Agreement or through any investigations made in connection with it and, if applicable, they should also enforce their officers, employees and consultants to whom such information has been disclosed to comply with such commitment.

12. Fees

12.1.       The Company has the right to charge the Customer a fee for using the Service in accordance with the Service Price List in force at any given time.

12.2.       The Service Price List may be changed or amended in accordance with section 16 of this Agreement.

12.3.       The Company is not responsible for any fees or commissions charged by the Recipient or any other third party.

12.4.       The Company has the right to apply different conditions for each Customer. Company has the right to establish special conditions other than the conditions set out in the Service Price List for the Customer, subject to a separate agreement with such Customer.

12.5.       When the Account is terminated the outstanding Fees shall be charged.

13. Indemnity

13.1.       It is the responsibility of the Customer to indemnify, protect, and agree to compensate the Company from any potential loss, damage, or expenses, including legal costs, in situations where the Company fulfils Transaction Orders and/or provides the Service to the Customer, or where the Customer fails to make payments for outstanding amounts, including interest, charges, or Fees related to their Account.

13.2.       The Customer indemnifies the Company and bears all losses, expenses, and obligations resulting from their own negligence, malicious actions, or failure to fulfil their responsibilities promptly upon the Company’s request or based on this Agreement.

13.3.       The Customer guarantees that they will indemnify the Company for any losses, costs, liabilities, and expenses, including attorney’s fees, that arise from the Customer’s failure to comply with the terms of this Agreement. By agreeing to this Agreement, the Customer acknowledges that the Company has the right to deduct, at the Company’s discretion, any specified losses and expenses outlined in the Agreement from the balance in the Account.

14. Changes to the Agreement

14.1.       The Company has a unilateral right to change the Agreement. The Company will notify the Customer of the changes in the Service or another similar way.

14.2.       If the changes concern Payment Services and/or E-Money Services, the changes enter into force on the date specified by the Company, however no earlier than 2 weeks after sending the notice to the Customer.

14.3.       The Agreement will remain in force as amended unless the Customer notifies the Company that the Customer does not accept the changes. In order to continue the use of the Service, it may be required that the Customer accepts the changed Agreement using a “tick-the-box”-method in the Service.

14.4.       If the Customer does not accept the changes to the Agreement, the Customer must notify the Company, stop using the Service and cancel or execute any pending Transaction Orders.

15. Suspension of the Service

15.1.       The Company can, at its sole discretion, suspend the Account in the following events:

1. The Customer violates this Agreement, especially section 4 “Rights and Responsibilities of the Customer” 
2. The Company receives a lawful request or directive from a competent court of law, government authority, public agency, or law enforcement agency;
3. The Customer has misled the Company by providing false data or information by withholding data or by any other means;
4. The Company’s activities are prohibited by law in the Customer’s Location;
5. The Company has reasonable grounds to suspect that the Customer has violated or is planning to violate any applicable law or regulation or this Agreement; or
6. The Company has reasonable grounds to suspect that the Customer is engaged in money laundering, financing terrorism, or is engaged any other criminal activity.

15.2.       The consequences of Account suspension when a Customer who used legally obtained Funds for making Transactions, but violated other rules of the Company:

15.2.1.     If the reason for an Account suspension is a breach of the Agreement by the Customer, failure to provide documents or the provision of incomplete documents for AML Verification, but there are no known facts or suspicions of illegal activity and/or money laundering, the Company will enforce a temporary suspension to the Customer’s access to the Account and notify the Customer about the suspension.

15.2.2.     The Account will be suspended until the there are no reasonable grounds to suspend the Account.

15.2.3     If the deficiencies are not rectified, the Company will terminate the Account and the Customer should provide the Company with their bank account details for withdrawing the Funds remaining on the Account. The Company shall execute the withdrawal within thirty (30) Business Days after receiving the Customer’s bank account details. However, a withdrawal is possible only when the Customer has successfully completed the required AML Verification.

15.2.4     The Customer is responsible for the accuracy of the bank account details they provide to the Company and for the possibility of accepting the required type of currency. The Company is not responsible for the actions or inactions of the recipient’s payment service provider and/or status of the account mentioned in the details given to the Company.

15.3.     The consequences of Account suspension for a Customer whose Funds fall under sanctions in the field of combating money laundering and terrorist financing:

15.3.1.     The Company suspends the Customer’s Account without the possibility to make a Transaction or a withdrawal and notifies the relevant government bodies. The Account can be unsuspended when the suspicion of money laundering and terrorist financing has been removed, however in accordance with law and the regulatory authorities’ orders.

15.3.2.     The Company reserves the right not to disclose the reason for termination of the Account if it is required by law.

15.3.3.     The Company may change the provided Service to specific Customers, as well as suspend and terminate all or some of the Service with two months’ advance notice, for any reason at the Company’s sole discretion. The Company does not bear the responsibility for any direct or indirect consequences of these actions.

16. Term and Termination

16.1.     This Agreement is valid from the moment the Customer accepts this Agreement as binding until further notice.

16.2.     The Customer may terminate the Account at any time with a written notice to the Company. However, the termination cannot be completed before the Customer has withdrawn all Funds from the Account to the Customer’s bank account, or the remaining Funds in the Account have been deducted by the Company as storage or other Fees.

16.3.     The Company has the right to terminate and/or suspend the Account and/or the Customer’s access to the Service at any time, for any reason, with a two weeks’ written notice, including, but not limited to, in the event that the Account has been inactive for more than six (6) months and there are not enough Funds on the Account to cover Fees.

17. Governing Law, Complaints and Disputes

17.1.     This Agreement shall be governed by the laws of Province of British Columbia without regard to its principles and rules on conflict of law.

17.2.     If the Customer has complaints against the Company about the Service and/or other activities, the Customer should file a complaint to the Company. The language for filing and handling complaints shall be English, and the Customer agrees to the complaint process being conducted via e-mail.

17.3.     In the event that the Customer has a complaint regarding the Service or their experience, the following process will be followed:

1. The Customer should submit their complaint in writing to The Company at complaints@Paysaxas.com.
2. The Company will strive to resolve the complaint and provide a response to the Customer within thirty (30) Business Days from the date of receipt. In the event that the Company is unable to give a timely answer to the Customer due to reasons that are exceptional and outside the Company’s influence, the Company will give a temporary answer to the Customer explaining the reason of delay and the date of the final answer. The final answer will be given to the Customer no later than forty-five (45) Business Days after receiving the complaint.
3. If the complaint remains unresolved, the Customer has the option to pursue any applicable legal remedies as described in this clause 17.

17.4.     By using the Service, the Customer agrees to cooperate in good faith throughout the complaint resolution process. The Company is committed to addressing the Customer concerns in a fair and timely manner.

17.5.     In the event that the Company and the Customer have a dispute which cannot first be amicably resolved through good faith negotiations, the Customer may use judicial protection. Any disputes arising from or related to this Agreement, the relationship between the Customer and the Company, or any associated matters (whether contractual or otherwise), shall be resolved in the first instance in the courts of Vancouver, British Columbia.

17.6.     If and to the extent that any provision of this Agreement is held to be illegal, void or unenforceable, such provision shall be given no effect and shall be deemed not to be included in this Agreement but without invalidating any of the remaining provisions of this Agreement.

17.7.     If and to the extent that any provision of this Agreement is held to be illegal, void or unenforceable in any jurisdiction, such a provision shall be deemed invalid only in those jurisdictions.

18. Privacy

18.1.     In compliance with data protection requirements, the Company ensures adherence to all privacy regulations.

18.2.     For a detailed understanding of our practices, please refer to our Privacy Notice.

18.3.     The Company does not disclose personal data to third parties unless essential for contractual obligations or required by applicable law.

18.4.     Personal data may be shared with our AML/KYC providers, the Company’s banking partners, and other financial institutions to facilitate Account opening or to other third parties and government authorities as required by applicable law or by an order of any court of competent jurisdiction.