Kasunduan sa mga Serbisyong Pangnegosyo

KASUNDUAN SA MGA SERBISYONG PANGNEGOSYO NG TRANSFI

Ang TransFi Business Services Agreement na ito, kasama ang lahat ng apendiks, iskedyul, at mga kalakip nito (na sama-samang tinutukoy bilang “Kasunduan”), ay pinasok ng at sa pagitan nina: 

NEOMONEY INC., registration no. 1000680357; FINTRAC registration no. M24519990, isang kumpanyang itinatag sa ilalim ng mga batas ng Canada na may pangunahing opisina sa 325 Front Street West 2nd floor, Toronto, ON M5V2Y1 (“NEOMONEY”);

Sinumang merchant, tao, o entidad na makakatapos sa proseso ng pag-sign up at tatanggap sa Kasunduang ito sa pamamagitan ng elektronikong paraan (ang “Customer” o “Client”, at, kung kinakailangan ng konteksto, ‘ikaw’ o ‘iyong’).

(Ang NEOMONEY INC. ay tutukuyin bilang “Neomoney”, “TransFi”, “Service Provider”, “Kami”, “Amin” at “Tayo”. Sa kabuuan, ang TransFi at ang Customer ay tutukuyin bilang “mga Partido” at isa-isa bilang “Partido”.)

SAPAGKAT:

• Ang TransFi ay nagmamay-ari at nagpapatakbo ng maraming Produkto at serbisyo gaya ng nakalista sa sugnay 2 ng Kasunduang ito;
• Nais ng TransFi at ng Customer na bumuo ng isang matibay na kolaborasyon upang bigyan ang Customer ng access sa mga Produkto at Serbisyo ng TransFi.
• Sa pamamagitan ng pag-tsek sa kahon ng pagtanggap at pagpapatuloy sa proseso ng pag-sign up, kinukumpirma ng Customer na nabasa, naintindihan, at sumasang-ayon itong maging legal na nakatali sa Kasunduang ito, at kinakatawan na ang indibidwal o entidad na nagbibigay ng nasabing pagtanggap ay may awtoridad na itali ang Customer. Ang pagsusumite ng form ng pag-sign up kasunod ng pag-tsek sa kahon ay ituturing na wastong elektronikong pagpapatupad ng Kasunduang ito, na magkakabisa sa petsa ng nasabing pagtanggap (“Petsa ng Pagkabisa”).

DAHIL DITO, bilang pagsasaalang-alang sa mga karapatan at obligasyong nakapaloob dito, kasama ang iba pang mabuti at mahalagang konsiderasyon, ang TransFi at ang Customer ay sumasang-ayon sa mga sumusunod:

1. Mga Kahulugan
   
   1. “Affiliate” ay nangangahulugang anumang kasalukuyan o hinaharap na legal na entidad na, direkta o hindi direkta, ay kumokontrol, kinokontrol ng, o nasa ilalim ng parehong kontrol ng TransFi.
   2. “Kasunduan” ay nangangahulugang itong Kasunduan sa mga Serbisyo sa Negosyo sa pagitan ng TransFi at ng Customer;
   3. “AML” ay nangangahulugang anti-money laundering;
   4. “API” ay nangangahulugang Application Programming Interface;
   5. “Naaangkop na Batas” ay nangangahulugang lahat ng naaangkop na batas, batas, instrumento ng batas, tuntunin, regulasyon, hatol, dekreto, alituntunin ng regulasyon, kodigo ng pagsasagawa, o iba pang kinakailangan ng mga awtoridad sa regulasyon sa anumang hurisdiksyon na ipinapatupad sa pana-panahon at nagbubuklod sa isang Partido;
   6. “Araw ng Pagnenegosyo” ay nangangahulugang araw maliban sa Sabado, Linggo, o pista opisyal kung kailan bukas ang mga bangko para sa negosyo sa London, UK;
   7. “Kumpidensyal na Impormasyon” ay may kahulugang itinakda sa seksyon 12 ng Kasunduang ito;
   8. “Mga Chargeback” ay nangangahulugang ang pagbabaligtad ng isang transaksyon o kahilingan para sa pagbabayad kaugnay ng isang transaksyong naayos at/o naipadala na, na nagmumula sa Issuing Bank, Payment Scheme, o iba pang institusyong pinansyal. 

Ang mga dahilan para sa mga Chargeback ay kinabibilangan ng (ngunit hindi limitado sa): 

• hindi awtorisado ang halaga ng transaksyon; 
• ang End User na nag-aangkin na:
  
  • hindi pakikilahok sa transaksyon; o 
  • hindi pagpapahintulot sa paggamit ng paraan ng pagbabayad; o 
• kinansela o hindi nakumpletong transaksyong may paunang pahintulot; o
• Pinaghihinalaang pandaraya.

9. “CTF” ay tumutukoy sa pagpigil sa pagpopondo ng terorismo;
10. “Client” ay tumutukoy sa isang entidad na direktang o hindi direktang nakikipag-ugnayan sa Produkto at mga serbisyo ng TransFi, kabilang ang (i) isang “Merchant”, na isang customer ng Customer ng TransFi; (ii) isang “Sub-Merchant”, na isang customer ng isang Merchant; at (iii) anumang iba pang kumpanya o entidad na nagsisilbing customer ng Customer ng TransFi at gumagamit ng Produkto at mga serbisyong ibinibigay ng TransFi, nang direkta man o sa pamamagitan ng isang Merchant o Sub-Merchant;
11. “araw” ay tumutukoy sa isang araw sa kalendaryo;
12. "Petsa ng Pagkakabisa” ay tumutukoy sa petsa ng Kasunduang ito; 
13. “End User” ay tumutukoy sa anumang natural na tao, indibidwal, o entidad ng negosyo na isang customer o mamimili ng Customer o ng Client ng Customer. Ang mga End User ay maaaring kabilang ang mga nagpapadala o tumatanggap ng pondo na konektado sa TransFi nang direkta sa pamamagitan ng Customer, o nang hindi direkta sa pamamagitan ng isang Merchant o Submerchant;
14. “Pangyayari ng Pagkakautang” ay may kahulugang nakasaad sa sugnay 11(d).
15. “Mga Bayarin” ay nangangahulugang anumang bayarin na napagkasunduan ng mga Partido; 
16. “KYB” ay nangangahulugang Know Your Business;
17. “KYC” ay nangangahulugang Know Your Customer;
18. “SIAC” ay nangangahulugang ang Singapore International Arbitration Centre;
19. “Mga Tuntunin ng SIAC” ay nangangahulugang ang mga tuntunin ng Singapore International Arbitration Centre;
20. “TransFi API” ay nangangahulugang API ng TransFi na nagbibigay-daan sa Customer na i-integrate ang mga Produkto at serbisyo ng TransFi na nakalista sa seksyon 2 ng Kasunduang ito sa kanilang sariling produkto, upang makapag-alok ng mga Produkto at serbisyo ng TransFi para sa kanilang sariling user o sa user ng kanilang mga Client at/o sa mga End User ng kanilang mga Client:
21. “TransFi Platform” ay nangangahulugang platform ng produkto ng TransFi na nagbibigay-daan sa Customer, Client ng Customer, o End User ng Client ng Customer na magrehistro ng account sa TransFi at gumamit ng mga Produkto at serbisyong nakalista sa seksyon 2 ng Kasunduang ito;
22. “User” ay nangangahulugang isang indibidwal o End User na gumagawa ng user account sa TransFi at gumagamit ng mga Produkto at serbisyo nito;

2. Mga Produkto at Serbisyo 
   
   1. Alinsunod sa Kasunduang ito at sa mga pagbubukod na nakasaad dito, magbibigay ang TransFi ng isa o higit pa sa mga sumusunod na produkto at serbisyo sa Customer, Client ng Customer, o sa mga End User ng Client ng Customer:
      
      1. Mga Koleksyon: Nagbibigay-daan sa pangongolekta ng mga pagbabayad sa fiat mula sa isang third party sa pamamagitan ng pagpapadala ng link sa pagbabayad at pag-settle nang real-time sa mga stablecoin nang madali mula saanman sa mundo. Ang mga stablecoin na ginagamit sa ating mga Produkto ay mga digital asset na may reserbang suporta at naka-peg sa isang fiat currency, partikular ang USDC at USDT. 
      2. Mga Payout: Nagbibigay-daan sa mga pagbabayad sa mga third party, gaya ng mga empleyado, vendor, freelancer, at trade partner sa buong mundo gamit ang fiat o mga stablecoin.
      3. Mga cross-border na pagbabayad: Nagbibigay-daan sa pag-aalok ng mga cross-border transfer mula fiat patungong fiat (gamit ang stablecoin bilang riles). 
      4. Pag-isyu ng mga Multi-Currency Account:  ay nagbibigay-daan sa Customer, Client/Merchant ng Customer at/o sa kanilang mga End User na humawak at mamahala ng mga balanse sa iba't ibang currency sa loob ng iisang account na pinapanatili ng TransFi. Maaaring suportahan ng account na ito ang mga fiat currency gaya ng USD at EUR, pati na rin ang mga digital asset gaya ng mga stablecoin (hal., USDC). Ang Multi-Currency Account ay nagpapakita ng kaukulang mga balanse na hawak sa wallet ng Customer, Client, o End User at idinisenyo upang padaliin ang maayos na pamamahala, pagpapalit, at settlement ng currency bilang suporta sa mga Produkto at serbisyong ibinibigay sa ilalim ng Kasunduang ito.

(sama-samang tinutukoy bilang “Mga Produkto” at ang bawat isa ay “Produkto”).

5. Checkout: Binibigyang-daan ang mga merchant na tumanggap ng mga bayad mula sa mga customer sa fiat o cryptocurrency gamit ang iba't ibang paraan ng pagbabayad gaya ng mga card, APM, wallet, bank transfer, at crypto, at mag-settle sa fiat o crypto.

2. Napapailalim sa paunang nakasulat na pag-apruba mula sa TransFi, na hindi dapat tanggihan nang walang makatwirang dahilan, maaaring i-embed ng Customer ang TransFi API sa iba pang mga produkto na pagmamay-ari at/o pinapatakbo ng Customer at/o gamitin ang TransFi Platform kasama ang mga naturang produkto na pagmamay-ari at/o pinapatakbo ng Customer. Makikipagtulungan ang TransFi sa Customer hinggil sa integrasyon ng TransFi API sa at paggamit ng TransFi Platform kasama ang mga produkto ng Customer at iba pang kaugnay na serbisyo nito.

3. Relasyon sa pagitan ng mga Partido
   
   1. Napagkasunduan ng mga Partido na ang Kasunduang ito ay hindi isang eksklusibong kaayusan.
   2. Dahil ang mga User ay magiging User ng TransFi bukod pa sa pagiging End User ng Customer o ng Client ng Customer, inilalaan ng TransFi ang karapatang: 
      
      1. magsagawa ng mga programa at proseso ng KYC pati na rin ang anumang kaugnay na aksyon sa AML, ayon sa sarili nitong pagpapasya bago tumanggap ng anumang transaksyon mula sa anumang User, at 
      2. mag-email ng mga kaugnay na nilalaman ng TransFi sa mga User, basta't may pahintulot lamang mula sa mga User.
   3. Ang lahat ng proseso ng KYC/AML ay dapat sumunod sa lahat ng naaangkop na batas sa oras ng pagproseso.
   4. Maaaring suspindihin at/o tapusin ng TransFi ang account ng Customer kung pinaghihinalaang hindi sumusunod ang Customer sa naaangkop na Mga Tuntunin at Kondisyon ng TransFi paminsan-minsan. Maaari ring tapusin ang mga account ng mga End User ng Customer kung hindi sila sumusunod sa Mga Tuntunin at Kondisyon ng TransFi.
   5. Ang karaniwan at nilalayong antas ng serbisyo ng TransFi ay nakasaad sa pangkalahatang gabay sa antas ng serbisyo ng TransFi na kalakip bilang Appendix 1.
   6. Ang Kasunduang ito ay sumasaklaw sa Mga Tuntunin at Kondisyon ng TransFi, na makikita sa website nito (transfi.com) at maaaring i-update paminsan-minsan.

4. Mga obligasyon at responsibilidad ng TransFi
   
   1. Ang TransFi ay dapat:
      
      1. magproseso ng mga transaksyon upang maihatid ang mga Produkto at serbisyong nilagdaan sa seksyon 2 batay sa mga kahilingan mula sa Customer at sa mga Client at End User ng Customer.
      2. Ang TransFi ang magsisilbing legal na counterparty sa daloy ng pondo para sa anumang transaksyong ito. Ang oras ng pagproseso at iba pang kondisyon sa pangangalakal ay dapat ayon sa napagkasunduan ng mga Partido. Nakasaad sa Appendix 2 ang mga tuntunin sa pagpepresyo at settlement na magtatakda ng mga naaangkop na timeline ng pagproseso, kondisyon sa pangangalakal, at mga kaugnay na komersyal na tuntunin para sa bawat heograpiya o Produkto na napagkasunduan ng mga Partido.

5. Mga obligasyon at responsibilidad ng Customer
   
   1. Dapat:
      
      1. Pagsunod at Pag-uugali:

(a) Kumilos nang ayon sa batas at alinsunod sa lahat ng oras sa panahon ng Kasunduang ito sa mga tuntunin nito at sa lahat ng Naaangkop na Batas.

(b) Huwag sadyang gumawa o magpabaya sa anumang kilos na maaaring makabuluhang makaapekto sa pagsunod ng anumang Financial Promotion sa mga Panuntunan sa Financial Promotion.

2. Kooperasyon at Pagbibigay ng Impormasyon:

(a) Makipagtulungan nang makatwiran sa TransFi kaugnay ng lahat ng usaping lumilitaw sa ilalim ng Kasunduang ito.

(b) Ibigay ang lahat ng dokumentasyon at impormasyong kinakailangan sa ilalim ng Kasunduang ito, at, maliban kung nakasaad dito, tumugon sa napapanahong paraan nang may makatwirang kumpleto at tumpak na impormasyon sa anumang makatwirang kahilingan ng TransFi na may kaugnayan sa mga obligasyon ng Customer, hangga't naaayon sa mga Naaangkop na Batas.

(c) Ipaalam sa TransFi ang anumang mahahalagang pagbabago sa impormasyong ibinigay dati sa ilalim ng Kasunduang ito.

(d) Siguraduhin na ang lahat ng impormasyong ibinigay sa TransFi ay, sa abot ng kaalaman nito, makatwirang kumpleto at tumpak sa lahat ng mahahalagang aspeto.

3. Paglilisensya at mga Awtorisasyon:

(a) Siguraduhin na hawak nito ang lahat ng awtorisasyon, lisensya, pag-apruba, at pahintulot na ipinapataw ng mga karampatang regulator kaugnay ng negosyo nito na may kinalaman sa mga Produkto.

(b) Siguraduhin na ang bawat isa sa mga Kliyente, Merchant, Sub-Merchant, at End User nito na gumagamit ng mga Produkto ng TransFi ay mayroon ding lahat ng kinakailangang awtorisasyon, lisensya, pag-apruba, at pahintulot na may kaugnayan sa mga Produkto, kabilang ang ngunit hindi limitado sa mga pagpaparehistro sa pagsusugal o regulasyong pinansyal.

4. Anti-Money Laundering at Pinagmulan ng Pondo:

Siguraduhin na ang lahat ng pondo at ari-ariang ginamit kaugnay ng Kasunduang ito ay hindi nagmula sa kriminal na gawain, kabilang ang ngunit hindi limitado sa pandaraya, trafficking ng droga, money laundering, pagpopondo sa terorismo, o anumang iba pang ilegal na gawain.

5. Proteksyon at Seguridad ng Data:

Makipagtulungan sa TransFi kaugnay ng anumang paglabag o posibleng paglabag sa seguridad na may kinalaman sa paghawak ng personal na data.

6. Mga Bayarin:

Magbayad ng mga Bayarin na maaaring mapagkasunduan ng mga Partido paminsan-minsan. Itinatakda ng Appendix 2 ang mga tuntunin sa pagpepresyo at pagbabayad na magtatakda ng mga naaangkop na timeline ng pagproseso, mga kondisyon sa pangangalakal, at mga kaugnay na tuntuning komersyal para sa bawat heograpiya o Produkto ayon sa napagkasunduan ng mga Partido.

7. Pagsunod sa KYC/AML at Dokumentasyon:

(a) Customer shall conduct all KYC and AML procedures on its Clients, Merchants, Sub-Merchants, and End Users, as required by Applicable Laws in each relevant jurisdiction. TransFi shall not perform such procedures directly.

(b) Customer shall, on demand and within forty-eight (48) hours of a request from TransFi, provide all relevant documentation and information supporting the aforementioned KYC/AML checks, including but not limited to government-issued ID, liveliness checks, address proof, income proof, and invoices.

(c) Failure to provide such documentation within the stipulated timeframe shall entitle TransFi to suspend services for the affected transactions or accounts.

(d) TransFi reserves the right, at its sole discretion, to request KYC/AML documentation:

i. On a sample basis prior to accepting transactions;

ii. For internal monitoring, due diligence, or compliance reviews;

iii. In connection with any fraud, recall, or Chargeback disputes.

TransFi will not contact the Customer’s Clients, Merchants, Sub-Merchants, or End Users directly for such documents. All such requests shall be fulfilled by the Customer.

8. Responsibility and Liability for Compliance:

(a) Customer shall remain solely and fully responsible for ensuring that all its Clients, Merchants, Sub-Merchants, and End Users comply with applicable KYC/AML and transaction-related laws.

(b) Customer accepts full and unlimited liability for any fines, penalties, losses, or legal consequences arising from non-compliance by itself or by any of its Clients, Merchants, Sub-Merchants, or End Users.

(c) TransFi shall not be liable for any failure by the Customer or its Clients, Merchants, Sub-Merchants, or End Users to comply with applicable legal or regulatory obligations.

9. Service Suspension and Termination Rights:

TransFi may, at its sole discretion, or if reasonably possible, with prior notice:

(a) Suspend or terminate services to any Client, Merchant, Sub-Merchant, or End User with prior notice to the Customer, or without prior notice if it reasonably suspects involvement in prohibited activities per TransFi’s Terms and Conditions;

(b) Terminate the Customer’s account for breach of this Agreement or for failure to ensure compliance by its Clients, Merchants, Sub-Merchants, or End Users;

(c) Terminate the Customer’s account or suspend related services if Chargeback volumes exceed acceptable thresholds as may be mutually agreed between the Parties.

10. Integration and Technical Responsibilities:

Customer will be responsible, as and when applicable, for properly integrating TransFi’s API into its systems and ensuring that its Clients, Merchants, Sub-Merchants, and End Users are correctly embedded into TransFi’s services in compliance with Applicable Law.

11. Relationship with Customer's Clients:

The Parties acknowledge that TransFi has no direct or indirect relationship with the Customer’s Clients, Merchants, Sub-Merchants, or End Users. All compliance and operational responsibilities, including but not limited to KYC/AML, remain solely with the Customer.

12. Sharing of KYB Information:

Customer acknowledges and agrees that TransFi shall have the right to share Customer’s, and its Clients’, Merchants’, Sub-Merchants’, and End-Users’ KYB information and any related documentation provided under this Agreement with TransFi’s payment partners, network institutions, and any other third-party service providers or partners, as may be reasonably necessary to provide the Products and services or comply with legal, regulatory, or operational requirements.

13. Customer Consent and Representations:

Customer represents and warrants that it has obtained all necessary consents and authorisations to enable TransFi to share KYB information under Clause (xii) above and agrees to indemnify and hold harmless TransFi from any liability arising from such disclosure, provided that such sharing is undertaken in accordance with the purposes outlined in this Agreement.

6. General
   
   1. TransFi may temporarily amend the terms of using the TransFi API and the TransFi Platform and/or suspend and/or cease trading for the Customer and/or any of the Customer’s Clients and/or End Users from using its Products and services, in its sole discretion, if TransFi: 
      
      1. has reasonable grounds to do so, e.g. suspicion of fraud, illegal activities; or
      2. is unable to provide services due to reasons beyond its control related, but not limited to its counterparties or regulations.
   2. TransFi may partially execute any order or not execute any order without impacting the terms of this Agreement, if TransFi: 
      
      1. has reasonable grounds to do so, e.g. suspicion of fraud, illegal activities, with any counterparty in the order; or
      2. is unable to provide services due to reasons beyond its control related, but not limited to its counterparties or regulations.

7. Representations and warranties
   
   1. Each of the Parties represents and warrants to each other the following:
      
      1. That their respective companies are duly organized, validly existing, remain in full compliance, licensed, registered and in good standing with all regulatory bodies in all jurisdictions applicable to the provided services, related activities, and any performance under this Agreement.
      2. That they, any of their customers, users or affiliates are not located or actively operate in a jurisdiction listed on UN sanctions list or any other prohibited countries as per TransFi policies and updated from time to time.
      3. If it is a body corporate, unincorporated association, trust or partnership it is validly existing in accordance with Applicable Law.
      4. That they each have full power and authority to execute this Agreement and to perform its obligations set forth herein. The execution, delivery and performance of this Agreement have been duly authorized by all necessary actions, and this Agreement constitutes a valid and binding obligation enforceable against each other in accordance with its terms.
      5. That the making of this Agreement does not violate any Agreement, right or obligation between the Parties or any other person, entity, firm or corporation, and the permission or Agreement of no other person, entity, firm or corporation is required to execute this Agreement or perform the obligations herein, or that such permission, if necessary, is secured.
   2. Customer represents and warrants that:
      
      1. It has all authorisations, licences, approvals and consents which have been imposed by any competent regulator or organisation in relation to Customer’s business relevant to the Products.
      2. That they have implemented and maintain in effect policies and procedures designed to ensure compliance with Applicable Law, including applicable AML & CTF laws, regulations, and guidelines in their respective jurisdiction(s).
      3. it is not insolvent or otherwise unable to pay its debts as they fall due and no liquidation, administration, receivership or other insolvency process whatsoever has occurred in relation to the Customer or is pending or threatened.
      4. Insofar as information provided, or to be provided, by Customer to TransFi includes the personal information of Clients, End Users, Customer has obtained sufficient informed prior consent from each such Client or End User to be shared with TransFi.

8. Disclaimers

1. DISCLAIMER: TRANSFI’S SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, THE COMPANY AND ITS MEMBERS, MANAGERS, OFFICERS, EMPLOYEES, ADVISORS, REPRESENTATIVES, AFFILIATES AND AGENTS MAKE NO EXPRESS WARRANTIES AND HEREBY DISCLAIM ALL IMPLIED WARRANTIES REGARDING OUR SERVICES AND ANY PART OF ANY OF THEM (INCLUDING, WITHOUT LIMITATION, OUR SERVICES OR ANY EXTERNAL WEBSITES), INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, CORRECTNESS, ACCURACY, OR RELIABILITY. 

WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, TRANSFI DOES NOT GUARANTEE  THAT: 

1. ACCESS TO OR USE OF OUR SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE OR FREE FROM ERROR, 
2. USAGE DATA PROVIDED THROUGH OUR SERVICES WILL BE ACCURATE
3. OUR SERVICES OR ANY CONTENT, SERVICES, OR FEATURES MADE AVAILABLE ON OR THROUGH OUR SERVICES ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR
4. THAT ANY DATA THAT ANY USER DISCLOSES WHEN THEY USE OUR SERVICES WILL BE SECURE.

THERE ARE INHERENT SECURITY RISKS OF PROVIDING INFORMATION AND DEALING ONLINE OVER THE INTERNET. TRANSFI HAS NO LIABILITY OR RESPONSIBILITY FOR ANY BREACH OF SECURITY UNLESS IT IS DUE TO THE TRANSFI’S GROSS NEGLIGENCE. 

2. Interruption of service: The risks of using TransFi’s Products & services includes interruption of service or delays in service, some of which may be outside of TransFi’s control. This is because some of the services TransFi provides include services provided by third-party service providers. While We strive to ensure the reliability and security of all payment methods offered through Our TransFi Platform, We cannot and do not guarantee the performance, availability, or security of services provided by third-party service providers. 
3. Use of third-party services: Our Services may utilize third-party service providers, which may require You, Your Clients or their End Users to agree to separate agreements with them. By using our Products and services, You agree to comply with all applicable third-party terms of agreement. We are not a party to these agreements, and we assume no responsibility for the products and services provided by third parties. 
4. Third-party service providers disclaimer: Our third-party service providers have no warranty obligations concerning Our services. Any claims, losses, liabilities, damages, costs, or expenses arising from Our services' failure to meet any warranties provided by Us, if any, are Our sole responsibility. 

9. Rights in software, documentation and other material protected by intellectual property rights
   
   1. TransFi owns and shall retain all rights, titles, and interest in and to the TransFi API and the TransFi Platform (and any part thereof, including any software or code written by TransFi), and any content and data generated through use of the TransFi API and TransFi Platform, including all intellectual property rights therein. This Agreement does not grant the Customer any rights to TransFi’s intellectual property (including any rights in respect to the TransFi API and TransFi Platform), and any goodwill, rights, and benefits that arise from their use. For the avoidance of doubt, any Client of the Customer or any End User shall retain all right, title and interest in any personal data; provided that TransFi is entitled to retain and use such information as allowed by TransFi’s Privacy Policy.

10. Fees, fee structure and commission
    
    1. Pricing and user fees shall be as set out in Appendix 2 which will define the applicable processing timelines, trading conditions, and related commercial terms for each geography or Product as agreed by the Parties.
    2. For any increase in user fees, TransFi shall provide the Customer with a minimum of twenty (20) Business Days’ notice.
    3. If any changes or additions of fees or similar actions by TransFi’s other providers or any other counterparties occur, TransFi shall have the right to adjust its fees and fee structure as may be agreed between the Parties similarly by providing the same notice to the Customer as the entity changing the fee towards TransFi.
    4. Customer will pay all such taxes, duties, charges or levies fully without any set-off, counterclaim, deduction or withholding of any kind. For the avoidance of doubt, TransFi shall under no circumstances be responsible or liable for any such taxes, duties, charges or levies associated with the Products and services, and the Customer hereby indemnifies TransFi for any claim made in respect thereof.
    5. Customer is obliged to pay all invoices within thirty (30) days of receipt from TransFi. Any invoices remaining unpaid thirty (30) days after the invoice date shall be considered overdue. Overdue invoices will incur interest at a rate of 3% above the prevailing Bank of England base rate, compounded monthly. This interest shall be applied on a monthly basis from the invoice due date until outstanding amounts have been paid in full.
    6. TransFi reserves the right to suspend services if payment is not received within sixty (60) days of the original invoice date. If services are suspended, re-instatement will only occur once all outstanding invoices and accrued interest have been settled.

11. Term and Termination
    
    1. Term: This Agreement shall commence on the Effective Date and continue in full force and effect until terminated in accordance with the provisions in this section.
    2. Termination for convenience: TransFi may terminate this Agreement at any time, with immediate effect, without providing any reason to the Customer
    3. Termination by need: TransFi may terminate this Agreement effective immediately and without prior notice if TransFi is prevented from delivering its Products and services by reason of any circumstances beyond the control of TransFi.
    4. Termination for Default.: TransFi may terminate this Agreement effective immediately and without prior notice upon an “Event of Default”. The following events shall each constitute an Event of Default:
       
       1. Customer takes the required actions to cease operations and to wind up the business;
       2. Customer fails or refuses to make payments in the ordinary course of business;
       3. Customer becomes insolvent, makes an assignment for the benefit of creditors, or seeks the protection from bankruptcy or similar proceedings;
       4. Customer receives notice from a regulatory authority having jurisdiction over that Party, with the intention to or order to suspend or revoke the operations of the Party;
       5. Customer fails to provide reasonable security to its services;
       6. Customer materially fails to comply with any applicable law;
       7. Customer directly or indirectly engages in or facilitates any action or activity that is illegal and such action and activity is known or reasonably should have been known by the Customer ; or
       8. Customer materially breaches this Agreement and does not or cannot correct such breach within ten (10) Business Days after receiving notice of the breach from the Customer .
    5. Upon termination of this Agreement, the Parties (i) have no right to use the other Party’s Products and services, licenses and/or trademarks, and (ii) must immediately either destroy or return all confidential and proprietary information or material in any form previously received. However, the Parties may retain a copy of such material or information if required by law, whereas in such case the strictest confidentiality obligations shall apply in every aspect.
    6. No later than ten (10) Business Days after termination of the Agreement the Parties must settle all outstanding amounts.
    7. Notwithstanding the above, the Parties must in good faith work together for the purpose of orderly winding down or transfer of the relationship so as no harm or nuisance is done to the users and/or customers of each Party.

12. Confidentiality
    
    1. For purposes of this Agreement, “Confidential Information” means the existence, terms and conditions of this Agreement as well as any and all information, in whatever form, disclosed by either Party in relation to the Agreement.
    2. Customer agrees 
       
       1. to hold the Confidential Information secure and in strict confidence;
       2. not to disclose the Confidential Information to any third parties; and 
       3. to use the Confidential Information solely and exclusively in accordance with the terms of this Agreement in order to carry out its obligations under this Agreement.
    3. The foregoing confidentiality obligations will not apply to any Confidential Information to the extent the Confidential Information: 
       
       1. was or becomes publicly known and generally available in the public domain other than as a result of disclosure by the receiving party; or
       2. was rightfully known prior to the time of first disclosure or independently developed by the receiving party without the use of the Confidential Information as evidenced by written records; or
       3. was rightfully obtained by the receiving party, without restriction, from a third party who has the right to make such disclosure and without breach of any duty of confidentiality to the disclosing party.
    4. Obligations hereunder will survive the termination of this Agreement for a period of three (3) years.

13. Indemnification and Limitation of Liability 
    
    1. Customer is responsible for ensuring that their respective participation and activities comply with all applicable law, market standards and this Agreement. TransFi is not responsible for the actions of the Customer’s or End Users and TransFi is not responsible for the services or products offered by the Customer.
    2. Indemnification:  Customer shall be liable to TransFi for direct damages to the Customer caused by any breach of this Agreement, applicable law or breach of third party intellectual property rights.
    3. Consequential Damages Waiver: Notwithstanding clause 13(b), in no event shall TransFi or the Customer, be liable to the other for any indirect, punitive, exemplary, special or consequential damages of any kind arising out of or in connection with the Agreement. Neither Party shall be liable for damages arising from delays or problems caused by telecommunication carriers, internet service providers, other communication networks, blockchains or blockchain systems, any doings of any exchange or the banking system.
    4. Limitation of Liability: The maximum aggregate liability of TransFi for any and all claims whatsoever arising under or in connection with this Agreement shall be limited to the fees paid to TransFi by the Customer in the preceding six (6) months.
    5. Notwithstanding the foregoing, the liability cap shall not apply to the Customer or the Customer’s Clients, Merchants, or Sub-Merchants with respect to fraud recalls, Chargebacks, fines, penalties, or other financial losses incurred as a result of their respective breaches of the Agreement or any misconduct or omissions in connection with the Agreement. Further, Customer agrees to assume unlimited liability for:

A. Regulatory fines and penalties imposed due to the Customer's or its Clients', Merchants', or Sub-Merchants' non-compliance with applicable laws, fraudulent activities, or other unlawful conduct in connection with the performance of the Agreement;

B. Stuck or restricted funds – any amounts frozen, withheld, or otherwise made inaccessible by payment processors, financial institutions, regulatory authorities, or any other authorities as a result of breaches of the Agreement or any misconduct or omissions by the Customer, its Clients, Merchants, or Sub-Merchants in connection with the Agreement;

C. Any liabilities resulting from claims initiated by third parties as a result of acts or omissions, non-compliance with applicable laws or regulatory requirements, fraudulent activity, or any other unlawful conduct by the Customer, its Clients, Merchants, or Sub-Merchants in connection with the performance of the Agreement.

6. Wilful default or fraud: Nothing in this Agreement will:
   
   1. exclude or restrict a Party’s liability which cannot by operation of Applicable Law be excluded or restricted; or
   2. exclude or restrict any claim which is directly attributable to the Parties’ wilful default or fraud.

14. Chargebacks

a. Chargeback Liability:

The Customer acknowledges and agrees that all Chargeback risk, including fraud recalls and related liabilities, rests solely with the Customer. TransFi reserves the right to withhold balances from the Customer as deemed appropriate to settle potential or actual Chargeback requests.

b. Liability for Merchants, Sub-Merchants, and Clients:

The Customer shall be fully responsible for Chargebacks and related liabilities arising from its merchants, sub-merchants, or clients. This includes any fines, penalties, or costs associated with the actions or omissions of these parties.

c. Right to Withhold and Recover Funds:

In the event of a Chargeback or fraud recall: (i) If the Customer's balance held by TransFi is insufficient to cover the Chargeback amount and associated costs, TransFi reserves the right to demand the balance amount directly from the Customer; and (ii) TransFi may withhold, offset, or deduct funds from any future settlements or remittances due to the Customer to recover the outstanding amounts.

d. Transaction Validity and Non-Settlement:

TransFi shall have the right to present non-settled transactions from the Customer to issuing banks, regulators, or other authorities for verification. In case of objections or disputes raised by these entities, TransFi will not be obligated to settle the disputed transaction amounts until such matters are resolved.

e. Chargeback Costs:

All Chargebacks shall correspond to the whole or part of the settlement value of the original transaction. The Customer shall be liable for: (i) The full amount of the relevant Chargeback; and (ii) Any costs, expenses, liabilities, or fines incurred by TransFi or its affiliates in connection with such Chargeback ("Chargeback Costs").

f. Recovery of Chargebacks:

A Chargeback represents an immediate liability from the Customer to TransFi. If the full amount of any Chargeback or Chargeback Costs cannot be recovered from the Customer's balance or withheld funds, TransFi shall be entitled to recover the balance by invoicing the Customer or by any other lawful means.

g. Final and Binding Decisions:

TransFi shall not be obligated to investigate the validity of any Chargeback decision made by an issuing bank, payment scheme, or financial institution. Such decisions shall be final and binding on the Customer.

h. Post-Termination Liability:

The Customer acknowledges and agrees that its liability for Chargebacks, fraud recalls, refunds, penalties, and related costs shall continue even after the termination of the Agreement.

i. Safeguard Period:

All funds collected by TransFi on behalf of the Customer shall be held in reserve for a minimum period of 90 days before initiating any settlement. This period acts as a safeguard against potential future claims for Chargebacks or fraud recalls on the collected funds.

j. Termination Due to Excessive Chargebacks:

TransFi may immediately terminate this Agreement if, in its sole discretion, the volume or value of Chargebacks or fraud recalls is deemed excessive or unreasonable.

k. Accountability for Merchants, Sub-Merchants, and Clients:

The Customer acknowledges and agrees that it shall be solely responsible for any Chargebacks, fraud recalls, fines, penalties, or related costs arising from the actions, omissions, or non-compliance of its merchants, sub-merchants, or clients. TransFi reserves the right to recover such amounts from the Customer through withholding, invoicing, or any other lawful means as outlined in this clause

15. Reserves

a. Right to Establish Reserves:

TransFi reserves the right, at its sole discretion, to establish a Reserve or impose rolling reserve requirements at any point in time based on the quality of traffic, perceived chargeback risks, or other factors it deems relevant to mitigate potential liabilities.

b. Reserve Terms:

If TransFi imposes a Reserve, it will notify the Customer specifying the terms of the Reserve. These terms may include: (i) Holding a certain percentage of the Customer’s funds for a specified duration; (ii) Withholding a fixed amount of funds from disbursement; and (iii) Imposing other restrictions or 

requirements as TransFi determines necessary to mitigate risk.

c. Adjustments to Reserve Terms:

TransFi may modify the terms of the Reserve at any time by providing notice to the Customer. Such modifications may be implemented based on changing risk assessments or other relevant factors.

d. Duration of Reserve:

TransFi may retain the Reserve for as long as it deems necessary, at its sole discretion, to address risks associated with the Customer’s transactions, including but not limited to Chargebacks, fraud recalls, regulatory fines, or penalties.

e. Liability Beyond Reserve:

The Customer agrees that it remains fully liable for all obligations related to its transactions, even after any Reserve has been released.

f. Blocking and Deductions:

TransFi has the right to block funds in the Customer's account or Reserves immediately upon receiving credible information from payment schemes, suppliers, or authorities indicating a high probability of fines, penalties, or other risks. Any damages, penalties, or liabilities incurred will first be deducted from the Customer’s funds held in accounts maintained by TransFi and, if insufficient, from the Reserve. These deductions may be executed without prior statements or declarations to the Customer.

g. Maintenance of Bank Account:

The Customer must maintain its designated Bank Account with sufficient funds to cover open settlements, Chargebacks, or other adjustments, as required by TransFi.

16. Force Majeure
    
    1. No Party shall be liable for any failure or delay in its performance under this Agreement (other than performance of payment) due to any cause beyond its reasonable control, including without limitation, acts of God, acts of war or terrorism, unauthorized actions of third parties, governmental actions and equipment, telecommunications, power or electrical failures, pandemic.

17. Miscellaneous
    
    1. Entire Agreement: This Agreement (including for the avoidance of doubt all appendices) constitutes the entire understanding and Agreement between the Parties hereto and their affiliates with respect to its subject matter, and supersedes all prior or contemporaneous Agreements, representations, warranties and understandings of the Parties (whether oral or written). This Agreement shall be construed according to its fair meaning and not strictly for or against either Party. No modification or amendment of this Agreement or any of its provisions will be binding upon any Party unless made in writing and duly executed by authorized representatives of all Parties.
    2. Severance: If any provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement or the legality, validity or enforceability in any other jurisdiction of that or any other provision of this Agreement.  The Parties shall negotiate in good faith to modify any such provisions so that to the greatest extent possible they achieve the same effect as would have been achieved by the invalid or unenforceable provisions.
    3. Assignment: The Customer undertakes not to assign, delegate, transfer or sell any of the rights, duties or obligations which are incumbent thereon pursuant to this Agreement. TransFi may assign this Agreement, or any rights or obligations hereunder, in whole or in part, to its affiliates or subsidiaries, without the prior written consent of the Customer.
    4. Accession of Affiliates: Notwithstanding anything contained herein, any of TransFi’s Affiliates may accede to this Agreement upon providing written notice to Customer, indicating its intent to accede and be bound by the terms of this Agreement. Upon such notice, the Affiliate shall become a party to this Agreement with all corresponding rights and obligations as though it were an original signatory hereto. TransFi shall ensure that any Affiliate seeking accession complies with all relevant provisions and obligations of this Agreement. Customer may request, and you shall facilitate, reasonable confirmation or documentation relating to the Affiliate's status and compliance capabilities, if required. This clause shall take precedence over any conflicting provisions in this Agreement.
    5. Provision of Services by Group Companies: The Customer acknowledges and agrees that the services under this Agreement may be provided by TransFi, any of its subsidiaries, Affiliates, or other entities within the TransFi group of companies (collectively referred to as “Group Companies”), as designated by TransFi from time to time. Such designation does not require the Customer’s prior approval and will not affect the rights or obligations of the Customer under this Agreement.
    6. Further assurance: it obtains the full benefit of this Agreement and shall execute such documents and take such other steps (or procure other necessary persons to take such steps) as are reasonably necessary or appropriate for vesting in the other Party of all its rights and interests in this Agreement and the full benefit of this Agreement.
    7. Change of control: In the event of a merger or reorganization of the Customer, or any change in the control of the Customer or any transfer of a substantial part of the business thereof, the Customer shall notify TransFi in writing thereof no later than 14 days prior to the occurrence of such an event, and TransFi reserves the right to terminate the Agreement without notice in such an event.
    8. No Waiver: The failure, delay or omission of either Party to give notice of default or to enforce strict performance of any provision of this Agreement will not be construed as a waiver, or future waiver, of its right to assert or rely upon such provision or any other provision of this Agreement. No waiver or breach of any provision will be deemed a waiver of any other provision, and no waiver will be valid unless it is in writing and executed by the waiving party. No extension of time for performance of any obligation or act will be deemed an extension of time for any other obligation or act.
    9. Rights of third parties: A person who is not a Party to this Agreement has no rights to enforce, or to enjoy the benefit of, any provision of this Agreement.
    10. Counterparts: This Agreement may be executed in separate counterparts (and signature pages may be delivered by email) all of which together evidence the same agreement.

18. Notices
    
    1. All notices between the Parties with respect to this Agreement shall be in writing, in English and sent by email to the designated email addresses below or Slack channel set up for communication. Any notice shall be duly served on sending.
    2. The email addresses of the Parties for the service of notices under this agreement are:
       
       1. TransFi: partners@transfi.com 
       2. Notices to the Customer  shall be sent to the email address or electronic contact details provided by the Customer during the onboarding process and shall be deemed received when transmitted or made available.

19. Dispute resolution
    
    1. In the event of any dispute or claim between the Parties hereto arising from or relating to this Agreement, then, both parties shall first try their best in good faith to resolve it through negotiation by providing the other Party notice in writing. Each Party will appoint a designated representative to endeavour to resolve such dispute.  The designated representatives will be executives with sufficient authority to engage in good faith negotiations and bind the Party s/he represents.  If the designated representatives are unable to resolve the dispute within a reasonable period (but in no event more than thirty (30) days from the date of receipt of written request) after using their best efforts to do so, then the Parties shall submit the dispute for arbitration as set out in section 18 of this Agreement.

20. Governing law and venue
    
    1. This Agreement is governed by the laws of Singapore.
    2. This Agreement and any dispute or claim arising out of or in relation to this Agreement, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. 
    3. The seat of the arbitration shall be Singapore. 
    4. The Tribunal shall consist of three (3) arbitrators.
    5. The language of the arbitration shall be English.
    6. The Parties will participate in the arbitration in good faith, and will each bear its own respective costs. 
    7. The arbitrator shall not be empowered to award damages in excess of compensatory damages. 
    8. The award rendered by the arbitrator shall be final and binding upon the parties. Judgment upon the award may be entered in any court having jurisdiction.

Appendix 1 - TransFi service level guide

Service levels – TransFi agrees to provide the following service levels:

• Uptime – TransFi will use all efforts to ensure our exchange service is available to its customers 99.99% of the time in any calendar month permitting the blockchain networks.
• In the event of any suspicious price movements in the currencies that TransFi trades, TransFi reserves the right to cease trading until such time that TransFi has a clear understanding of the events that have occurred, and the price movements have returned to normal
• TransFi will work as second line support for all Customers guaranteeing email support on all weekdays from 09.00 AM – 05.00 PM GMT. As a minimum all escalated tickets will be answered within 48 business hours.
• TransFi will agree to provide general training and trade flow overview for its customer’s first line support staff. This will be done remotely via online calls.
• The Customers will have a direct line of contact with TransFi’s support manager and will be expected to participate in regular update meetings. 
• In case of an occurrence of limited or halted trading TransFi will notify its customers as soon as possible through the agreed channel. 

Exceptions – TransFi uptime is exempt from the following scenarios:

• Preventive or scheduled maintenance
• Power outages, network outages, backbone peering point issues
• Hacks, attacks from outside parties including DDos attacks, user overload, unavailability of the website
• Circumstances beyond TransFi’s reasonable control

Appendix 2 – Pricing and Settlement

The standard pricing applicable to the Customer, as displayed on the Customer dashboard, shall be made available and visible to the Customer upon completion of the sign-up process

Payment Terms:

1. Credit card payments will be settled at T+2. ACH can be settled the same day after receipt. 
2. Minimum settlement threshold is $10K
3. There would be gas/network fees, which is charged on actuals on settlement.