GENERAL PAYMENT SERVICES AGREEMENT
1.1 This Agreement establishes the basic rights and obligations of Excoincash and Excoincash by registering the Client in the System and using the services provided by Excoincash. In addition to this Agreement, the relationship between the Client and Excoincash is also governed by applicable law, other agreements, rules and principles of reasonableness, good faith and fairness. If you have any questions about the terms of this Agreement or the specifics of the services provided by Excoincash, you can contact Excoincash by email at [email protected]
1.2 The Client should carefully study this Agreement before deciding to register in the System and use the services provided by Excoincash. This Agreement defines the inherent risks when using the System and provides guidelines for the safe use of the System and Excoincash services.
1.3 The terms used in the Agreement in capital letters have the following meanings:
Arabic, English and Russian languages.
any information concerning a natural (private) person whose identity is known or can be directly or indirectly identified using a personal code (national identification number), one or more physical, physiological, psychological, economic, cultural, social or other personal characteristics of face identification.
Excoincash, LTD (legal entity Number 13019359, address A. KEMP HOUSE 160 CITY ROAD LONDON EC1V2NX; payment institution license No. 74989 (authorization code: 22213), issued on 15th November 2020.; supervisory authority – UK Bank, more information about the Excoincash license of a payment institution can be obtained in UK . Excoincash is accumulated and stored in the Register legal office is in England and Wales.). You can always contact Excoincash by email at [email protected] or by submitting a request in your Account.
Excoincash is the working 7 days from 10AM-11PM when Excoincash provides Payment services. Unless otherwise specified in other agreements concluded with the Client or in other documents published by Excoincash.
commissions and prices (prices) of operations and services performed by Excoincash in the System you can find in our rates.
an individual or legal entity that has entered into this Agreement for the services of Excoincash.
identification of the Client and / or his representatives in accordance with the procedures specified in the System.
Excoincash the fee charged for the Payment Transaction and / or related services.
The supervisory authority is UK.GOV of UNITED KINGDOM, which controls the activities of Excoincash, address CORPORATION TAX SERVICES BX91AX UNITED KINGDOM.
1-1. The public list of payment institutions is also published on the website of the
2.1 Before using Excoincash Payment services, the Client must register in the System and create an Account. Authentication and registration of the Client in the System is carried out in accordance with the current legal requirements. For proper authentication of the Client in the System, the Client needs to provide only known information to log in to the System (knowledge factor: by entering data for logging into the System or logging into the System through the Client’s personal account on the social network), as well as enter the PIN- a code known only to the Client. In some cases, the Client may be asked to enter into the System an additional code generated using only the Client’s mobile device (ownership factor).
2.2 Only persons at least 18 years of age are eligible to register in the System.
2.3 To register the Client in the System on behalf of an individual or legal entity, the head of the legal entity or another representative of the Client who has the powers specified in legal acts and / or in the documents of the legal entity’s activity has the right. When registering a Client in the System on behalf of a legal entity, the Client’s manager or other representative confirms that he is a legal representative of this legal entity, has been duly elected or appointed and confirms that the legal entity that he represents is duly created and operates legally. … The manager of the Client as a legal entity or other representative of the Client as an individual or legal entity must identify himself in accordance with the procedures established in the System by submitting documents,
2.4 The creation and maintenance of an Account is free of charge, except in special cases provided by Excoincash.
2.5 When clicking on the button in the System, indicating to the Client that the Client agrees with the provisions of the Agreement, it is considered that the Client has read and agrees with the terms of this Agreement and undertakes to comply with them. After the Client has properly completed all the registration actions in the System (i.e. after proper registration in the System), the Agreement comes into force.
2.6 The Client guarantees that both when registering in the System and later changing and submitting data, only correct data about the Client and his representatives will be provided.
2.7 In the cases and in the manner provided for by the Agreement or the System, the Client must approve the Account, the provision of a new Payment service or a part thereof, and complete the Client identification procedure in order for Excoincash to start or continue the provision of Payment services. The Client identification procedure, Account Confirmation and New Payment Service are performed in order to protect the interests of the Client and Excoincash.
2.8 Excoincash has the right to demand from the Client such data and / or documents that may be required to identify the Client and / or obtain essential information about the Client, which is necessary for the proper provision of Excoincash Payment services. The specific data and / or documents provided will be indicated in the notification to the Client about the need to go through the identification procedure.
2.9 Performing identification of the Client, Excoincash has the right to require the Client to perform the following actions:
2.9.1 provide Excoincash with the necessary originals and / or copies of the Client’s documents and / or copies of documents certified by a notary or another state authorized person;
2.9.2 Excoincash, fulfilling its legal obligation to identify the beneficiary, has the right to require the Client to provide a valid list of shareholders of the legal entity he represents. When providing this list, the Client must confirm that it is current and accurate, and that the specified shareholders hold shares on their own behalf, and not on behalf of third parties (and if so, these circumstances must be specified additionally, including third parties who actually manage shares). Excoincash does not provide and has the right to refuse to provide Payment Services if it is found that it is impossible to determine the beneficiaries of a legal entity (for example, the beneficiaries of a legal entity are holders of bearer shares).
2.10 Client identification can also be performed using the Paysera/ Vodafone/Skrill/Neteller authentication , when information about the Client from Paysera is transferred to Excoincash. By signing this Agreement, the Client agrees, among other things, that the identification of the Client can be carried out in the same way as described in this clause.
2.11 In some cases, when fulfilling the obligations established by law or, if required by the types of documents, Excoincash has the right to require the Client to perform the Client identification procedure in a certain way specified by Excoincash.
2.12 Excoincash has the right to demand from the Client additional information and / or documents related to the Client or the operations performed by the Client, in order to fill out and periodically (at least once a year) updаte the data of the Client’s questionnaire. Excoincash has the right to demand that the submitted copies of documents be certified by a notary and / or translated into at least one of the Acceptable languages of Excoincash. All documents and information are prepared and provided at the expense of the Client. If the Client does not provide additional information and / or documentation within a reasonable period of time set by Excoincash, Excoincash has the right to suspend the provision of all or part of the Payment Services to the Client. Notice that
2.13 Excoincash undertakes to consider messages sent via the System, notifications about Client’s Payment transactions, concluded agreements and Payment services, if the username and password were correctly indicated at the beginning of the communication session, to be considered signed and confirmed by the Client and sent by Excoincash.
2.14 The Client undertakes to consider that the Client is properly identified, to confirm and consider the messages, instructions and documents sent through the Excoincash System signed and approved, if at the beginning of the communication session the Client indicated the correct Client’s username and password.
2.15 Username and password of the Client, other information that is entered during the authentication of the Client is considered confidential information, therefore the Client (including his / her representatives) undertakes to store this information, not provide or create conditions for its provision to third parties, immediately inform Excoincash if a third party has access to this information or there is such suspicion.
2.16 The Client is obliged to immediately notify Excoincash in writing (for example, in the Excoincash System or by e-mail) of any changes in his personal data.
3.1 The Client or the Client’s representative, authorized to manage the Account, will be able to use Excoincash’s provided Money Transfer services and Additional Services only if they are properly connected to the Client’s Account.
3.2 After connecting to the Account, the Payment Service may be provided between accounts opened with different electronic money institutions or banks on behalf of the same Customer and an account with an electronic money institution or bank opened in the name of another person, or, in In the case of the Additional Service, the currency exchange service can be provided to the same or another account with an electronic money institution or a bank account opened in the name of the Client, after the Client has submitted the relevant Application in the System.
3.3 The updated list of banks and electronic money institutions, from which and to which Payment Transactions can be made, is presented in the System.
3.4 A payment transaction is considered authorized only after receiving the Client’s Consent. The Client gives his Consent electronically by sending a Payment Order, i.e. by transferring funds to the Excoincash account with an electronic money institution or a bank. The consent approved in this way is considered to be duly certified by the Client (his representative) and has the same legal force as a paper document (Consent), can be used as a means of evidence in resolving disputes between Excoincash and the Client in courts and other institutions, and The Client does not have the right to dispute the executed Payment operation by Excoincash if the Payment operation was confirmed with the Consent provided in the manner specified in this clause.
3.5 To perform a Payment Transaction, the Client must submit an Application in strict accordance with the instructions that are valid at the time of submitting the Application and specified in the System.
3.6 After receiving the completed Application properly and in accordance with the current instructions specified in the System, Excoincash estimates the amount of the transferred amount, conducts a preliminary check, if necessary, requests confirmation of the Account in accordance with the provisions of this Agreement and, at its discretion, makes a Payment offer to the Client …
3.7 The Client who agrees with the Payment offer presented by Excoincash submits the Payment order to Excoincash by making the payment, i.e. by transferring funds to the Excoincash account with an electronic money institution or a bank. Initiating a payment to the Excoincash account is the Client’s Consent to perform a Payment Transaction and such Consent cannot be revoked until the receipt of the Payment Order (unless certain exceptions are provided in this Agreement).
3.8 The moment of receipt of the Client’s Payment order is the moment when Excoincash receives the Payment order, i.e. when Excoincash receives funds in its bank account or account with an electronic money institution and can dispose of them. If such moment of receipt of funds is not a Excoincash Business day, it is considered that the funds were received on the next Excoincash Business day. Funds received by Excoincash on a Business day outside Excoincash’s business hours are considered received on the next Excoincash Business day.
3.9 Excoincash, prior to the execution of the Payment operation initiated by the Client in accordance with the Agreement, at the request of the Client is obliged to provide information on the maximum execution time of this Payment operation, the amount of the Commission and the components of the amount of the Commission.
3.10 Excoincash Payment transactions in euros Banks are executed by the end of the next Business Day from the date of receipt of the Payment Order, after completing the procedure for checking suspicious payments and making sure that the Client complies with the legal requirements.
3.11 Excoincash Payment transactions in the currencies of Eurozone countries (in Uk and other EU / Egypt /Algeri member states) are executed no more than 3 (Bank Euro is) 2 Business days from the date of receipt of the Payment order, after the procedure for checking suspicious payments and making sure that the Client complies with the legal requirements.
3.12 Excoincash has the right to record and store any Orders and Payment Orders submitted by the Client, as well as record and store information on any Payment Transactions performed in accordance with the Payment Order submitted by the Client. The records referred to in this clause may be provided by Excoincash to the Client and / or third parties who have legal grounds for obtaining such data, as evidence of confirmation of the submission of Applications, Payment Orders and / or Payment Transactions.
3.13 The Applications and Payment Orders submitted by the Client must comply with the legal requirements and the requirements of Excoincash for their presentation and / or content.
3.14 Excoincash has the right to refuse to execute the submitted Application and / or Payment order if there are reasonable doubts that the Application or Payment order was not submitted by the Client or his legal representative, or the documents submitted by Excoincash are falsified. If Excoincash has reasonable doubts as to whether the Application or Payment Order was submitted by the Client or his legal representative, or if there are doubts about the authenticity of the documents presented in Excoincash, or if there are any other doubts about the legality or content of the submitted Application or Payment orders, Excoincash has the right to demand that the Client, at his own expense and in a form acceptable to Excoincash, additionally confirm the submitted Application or Payment order and / or provide Excoincash with documents, confirming the right of persons to dispose of funds or other documents specified by Excoincash. In the cases referred to in this clause, Excoincash acts to protect the legitimate interests of the Client, Excoincash and / or others and therefore Excoincash is not responsible for any losses that may arise as a result of refusal to execute a Payment Order or provide a corresponding Payment Offer.
3.15 Prior to the execution of the Orders, Payment Orders submitted by the Client or the submission of the corresponding Payment offers, Excoincash has the right to require the Client to provide documents confirming the legal origin of the money related to the execution of the Orders or Payment Orders. If the Client does not provide such documents, Excoincash has the right to refuse to submit the relevant Payment Orders and / or execute Payment Orders.
3.16 Excoincash has the right to use third parties for partial or full execution of the Payment Order submitted by the Client, if this is required for the interests of the Client and / or the nature of the execution of the Payment Order requires it. If the nature of the Client’s Payment Order requires that the transfer be sent and then executed through another financial institution, but this financial institution holds the Money Transfer in accordance with its internal procedures, Excoincash is not responsible for such actions of the financial institution, but makes reasonable efforts to identify the reasons such retention. Excoincash has the right to suspend and / or terminate the execution of the Payment order submitted by the Client, or to provide a Payment offer,
3.17 Excoincash, refusing to execute the Payment order submitted by the Client and / or provide a Payment offer, must immediately notify the Client or provide access to such notification, unless such notification is technically impossible or prohibited by applicable law.
3.18 Excoincash does not accept and does not execute the Client’s Payment Order and / or does not provide a Payment Offer for performing operations at the Client’s expense if Excoincash knows that the Client’s funds are seized or the Client’s right to dispose of the funds is limited by other legal means, including when the operations, executed by Excoincash are suspended in cases determined by applicable law. However, the Parties agree that Excoincash is not obliged to verify that the Client’s funds have not been seized or that the Client’s right to dispose of funds is not limited by any other legal means, and Excoincash is not responsible for the Client’s right to dispose of funds.
3.19 Upon receipt of the Payment Order, Excoincash immediately creates an opportunity for the Client to access the following data when entering his Account:
3.19.1 Information allowing the Client to identify each Payment Transaction, and information concerning the recipient;
3.19.2 The amount of the Payment Transaction in the currency specified in the Payment Order;
3.19.3 The amount of the Payment Transaction Fee and its constituent parts;
3.19.4 Currency exchange rate used by Excoincash and the amount of the Payment operation after currency exchange, if the currency was changed by performing the Payment operation;
3.19.5 Date of receipt of the Payment order.
3.20 The Client, having entered the System, can check the history of his Payment transactions, as well as the information specified in clause 3.19 of the Agreement.
3.21 The Client agrees that Excoincash, when performing a Payment operation, will transfer the Client’s personal data stored in Excoincash directly to persons associated with the execution of such a Payment operation, such as electronic money institutions, banks and others.
3.22 A payment order cannot be canceled after the Client has made a payment – transferred funds to Excoincash’s account at an electronic money institution or bank, except as provided in the Agreement or it is separately agreed between the Client and Excoincash.
3.23 Excoincash has the right, but not the obligation, to check whether the Unique Identifier specified in Excoincash corresponds to the received Application or Payment Order specified in the Payment Transaction with the Beneficiary’s account number with the electronic money institution or bank (IBAN). If Excoincash conducts such a check and reveals a discrepancy between the unique identifier provided by Excoincash and the data specified in this clause of this Agreement, Excoincash has the right not to execute such Payment order and / or not to provide a Payment offer.
3.24 If the Client specifies the Unique identifier of the beneficiary for the execution of the Payment order, such Payment order shall be deemed to be duly executed in relation to the beneficiary and / or his payment account indicated in the Unique identifier. If the Unique identifier provided by the Client is erroneous, Excoincash is not responsible for non-execution or improper execution of the Payment Transaction, but makes every possible effort to track the Payment Transaction and strive to return the funds of the Payment Transaction. If a refund is not possible, Excoincash, at the request of the Client by e-mail ([email protected]) or in his Account, provides the Client with all available information that is relevant to the Client so that he can take legal remedies,
3.25 In all cases, when executing a Payment order, Excoincash must be able to identify at least the beneficiary’s account number (IBAN) (Unique identifier of the beneficiary in the Payment order). If necessary and / or at the request of other government agencies, Excoincash has the right to require additional and / or other mandatory information that must be provided to Excoincash for the correct execution of the Payment Transaction.
3.26 If, according to the Payment order, money is returned for reasons beyond the control of Excoincash (inaccurate data provided by the Client, etc.), the amount to be returned is credited to the account of the Client from which the transfer was made to Excoincash. Payments paid by the Client for the execution of the Payment Transaction are not refundable, as well as the costs associated with the refund, Excoincash paid payments and taxes, can be deducted from the amount to be returned.
3.27 If the Client provides an erroneous Payment Order or provides incorrect data, but the Payment operation has not yet been completed, the Client may ask Excoincash to clarify the Payment Order. Excoincash is not obliged to agree with such clarification of the Payment Order. If necessary, after adjusting the Payment order, Excoincash will present a new Payment proposal with the adjustments. For clarification of the Payment Order, the Tariffs specified in the System are applied.
3.28 If Excoincash is unable to credit the funds indicated in the Payment Order to the Client due to an error in the Application and / or the Payment Order, but the Client asks that such funds be returned to the Client’s account from which they were transferred, then the Payment Order may be canceled and the funds are returned to the Client’s account from which they were transferred. In this case, the Tariffs specified in the System for cancellation of the Payment order are applied.
3.29 In all cases when Excoincash receives a Payment order and funds that cannot be credited due to errors or lack of information in the Application and / or Payment order, and the Client does not apply to Excoincash with a request to correct the Application and / or Payment order, or return of funds, Excoincash takes all reasonably possible steps to track the Payment transaction in order to obtain updated information about the Application and / or the Payment order to complete the Payment transaction. In this case, the Tariffs for correcting the Payment Order specified in the System are applied.
3.30 If it is impossible to apply any of the tools for tracking a Payment transaction, also in cases where, according to the Application and / or Payment order submitted and / or specified by the Client, it is still impossible to determine the account data to which funds should be transferred and the Client does not specify Payment order, Excoincash returns to the Client the amount of unfulfilled or incorrectly executed Payment operation.
3.31 The Client, having noticed that non-belonging funds have been credited to his account opened with an electronic money institution or a bank, must immediately notify Excoincash. The client has no right to dispose of non-owned and mistakenly credited funds. If funds were credited to the Client’s account by mistake or for other reasons that have no legal basis, the Client unconditionally undertakes to return the incorrectly credited money to Excoincash within 3 (three) Business days from the receipt of the request from Excoincash.
4.1 The Client undertakes to timely and properly pay all commissions and other fees provided for by this Agreement and other agreements concluded between the Client and Excoincash.
4.2 For executed Payment Transactions and / or related services, the Client pays a certain Commission to Excoincash. The Client can view the amount of the Commission in the System. The Excoincash Commission can be changed unilaterally and the new Commission sizes are immediately published in the System.
4.3 The commission to the Client is additionally indicated in a specific Payment proposal (unless otherwise specified in a specific Payment transaction).
4.4 The Client and Excoincash may agree to change and not apply the Commission provided for in the System, as well as to apply the Commission not provided for in the System.
4.5 The transfer of funds from the Excoincash account to an account with an electronic money institution or a bank account owned by the Customer may be subject to an appropriate service fee set by the electronic money institution or bank. The Client is obliged to pay such expenses.
4.6 The Parties clearly and unconditionally agree that all commissions and other fees of Excoincash stipulated by this Agreement will be deducted by Excoincash from the amount of the Payment transaction before the funds are transferred to the account of the recipient of the Payment transaction, i.e. Excoincash will reduce the amount of funds transferred to the recipient of the Payment operation.
4.7 In the event that the Client’s funds are not enough to deduct commissions or any other Excoincash owned funds provided for in the Agreement, the Payment operation is not performed, and the funds transferred to the Excoincash account are returned to the Client.
4.8 The Client confirms that he has carefully read the tariffs and conditions of Payment Transactions and with the prices for all other Excoincash services applicable and related to the Client, which are indicated in the System.
5.1 When using Excoincash services, the Client is prohibited from the following:
5.1.1 not to comply with the Agreement, any annexes thereto, laws and regulations, including, but not limited to, laws on the prevention of money laundering and terrorist financing;
5.1.2 violate the rights of Excoincash and third parties to their trademarks, copyrights, trade secrets and other intellectual property rights;
5.1.3 provide Excoincash with false, misleading or incorrect information;
5.1.4 not provide information that Excoincash reasonably requests;
5.1.5 submit an Application for making a Payment Transaction with illegally acquired funds, if the Client knew or should have known about it;
5.1.6 use Excoincash services in such a way that it will lead to losses, liability or other negative legal, financial or other consequences for Excoincash, or other third parties, or it will damage their business reputation;
5.1.7 use the services of Excoincash from a country that is unacceptable for Excoincash (the System contains a list of prohibited countries);
5.1.8 distribute computer viruses and take other actions that can disrupt the operation of the System, damage or destroy information and cause any other damage to the System, equipment or information of Excoincash;
5.1.9 take any other intentional actions that may interfere with Excoincash in the provision of Payment Services to the Client or third parties, or interfere with the operation of the System;
5.1.10 Organize illegal gambling, illegal trading in stocks, indices, commodities, currencies (for example, Forex), options, exchange traded funds (ETF), provide trading, investment or other services on exchange markets, Forex markets, other electronic currency trading systems , illegal trade in tobacco products, alcohol, prescription drugs, steroids, weapons, trade in drugs and related paraphernalia, pornographic products, unlicensed lottery, illegal software and other items or products prohibited by law;
5.1.11 buy, convert or otherwise dispose of illegal currency;
5.1.12 have more than one Account, register an Account with a false name or register an Account on behalf of another person without such authority, register an Account using the services of persons (websites) providing anonymous phone numbers or e-mail;
5.1.13 provide services that are prohibited by law or regulation or contrary to public order and moral principles;
5.1.14 connect to the System anonymously (for example, through proxy servers);
5.1.15 disclose the password and other personal security measures of the Account to third parties and provide opportunities for other persons to use the Payment Services on behalf of the Client.
5.2 The Client undertakes to reimburse Excoincash for all direct losses, fines and other monetary sanctions applied to Excoincash for failure to comply with the Agreement, including but not limited to non-compliance or violation of clause 5.1 through the fault of the Client.
5.3 Excoincash, in accordance with the procedure established by legal acts, notifies the supervisory authority (UK Government& Egypt ) and / or other competent authorities about possible unauthorized, fraudulent and other illegal cases in the provision of Payment services.
6.1 Excoincash will individually provide the Client with notifications by posting them in the Account and / or sending them to the email address specified by the Client when registering in the System. The client confirms that the Excoincash message sent by any of the above methods will be properly provided.
6.2 All notices of the Parties are sent in the Acceptable language or in the language in which the Agreement was provided to the Client for review.
6.3 The Client is obliged to post and in case of any changes immediately (within one Business Day) updаte the contact information indicated in the System so that Excoincash can promptly contact the Client or his representatives. If the Client does not updаte the changed contact details, any consequences related to the fact that Excoincash does not provide notifications to the Client shall be borne by the Client.
6.4 To protect the Client’s funds from possible illegal actions of third parties, the Client must also immediately notify Excoincash in writing about the theft or loss of the identity document of the Client’s representative / representatives.
6.5 Excoincash, in accordance with this Agreement, will notify the Client in advance of any known or potential technical malfunctions of the System or third-party systems and equipment used by Excoincash to provide services that affect the provision of Excoincash services.
6.6 On all issues related to the System and the implementation of the Agreement, the Client can get advice by sending an email with questions to the email address indicated on the Excoincash website, or by filling out an application in the Client’s Account.
6.7 Excoincash can change the solution of technical integration of services freely and at any time. Any changes of this type that require corrections in the Client’s software shall be communicated at least 90 days in advance. If the Client needs any changes on the Client’s side, they must be made at the expense of the Client.
6.8 The Parties are obliged to immediately inform each other about any significant circumstances related to the execution of the Agreement. The Client must provide the following circumstances (for example: change of name, address, e-mail address, telephone number, other contact details, change of authorized representatives of the Client, change of signatures of the Client, bankruptcy of the Client, initiation and proceeding of a restructuring case, liquidation of the Client, reorganization, restructuring, etc. etc.) supporting documents, regardless of whether this information is transferred to public registries.
6.9 Excoincash has the right to demand that foreign documents be translated, legalized or certified with an apostille, except as otherwise provided by law.
6.10 All costs for the preparation, delivery, verification and translation of documents submitted to Excoincash are borne by the Client.
6.11 If the Client submits documents to Excoincash that do not meet the requirements of the law and / or Excoincash, or because of the authenticity or correctness of the submitted documents, Excoincash has reasonable doubts, Excoincash has the right not to execute the Client’s Orders and / or not to send a Payment Offer, to suspend the provision of other services and / or require the client to provide additional documents.
6.12 The Client has the right at any time by connecting to his Account to get acquainted with the current version of the Agreement and other applicable documents related to the terms of the provision of Payment services.
7.1 Excoincash has the right to unilaterally change and / or supplement the terms of the Agreement in accordance with the procedures specified in this Agreement.
7.2 Excoincash proposes to amend the Agreement by notifying the Client individually, by sending him an e-mail to his specified e-mail and placing a notification in the Client’s Account no later than sixty (60) days before the effective date of the changes. The Client shall be deemed to have received such notification, and the amendment to the Terms and Conditions shall come into effect within 60 (sixty) days from the date of sending such notification by e-mail specified by the Client and the date of its posting in the Account.
7.3 The 60 (sixty) days notice period does not apply if:
7.3.1 The terms of the Agreement have been changed due to changes in legal requirements;
7.3.2 The cost of the services provided by Excoincash is growing, which leads to an increase in the prices for the services provided by Excoincash;
7.3.3 A new service or a new part of a service appears, which may or may not be used by the Client at his own choice;
7.3.4 Minor changes to the Agreement are made. Such changes inсlude style or grammar corrections, reformulation and rearrangement of a sentence, clause or section of the Agreement for clarity, provision of examples for sections and other changes that do not diminish or limit the rights of the Client, do not increase the responsibility of the Client and do not complicate the position of the Client.
7.4 If the Client does not notify Excoincash before the effective date of Excoincash of the proposed changes that he does not agree with the amendments to this Agreement, the Client shall be deemed to accept the changes to the terms of this Agreement.
7.5 The Client has the right to terminate the Agreement without paying any Excoincash Commission before the date the changes come into effect. If the Client does not exercise the right to terminate the Agreement before the effective date of the changes, it is considered that the Client has accepted the changes to the Agreement.
7.6 Excoincash has the right, at its discretion and in the context of a particular situation, giving priority to the fulfillment of the requirements of the legislation applicable to the activities of Excoincash, and the interests of the Client, to use one or more of the following measures unilaterally and without prior notice:
7.6.1 suspend the execution of Payment Transactions;
7.6.2 suspend the provision of all or part of the services to the Client;
7.6.3 withhold the Client’s funds due to which the dispute arose;
7.6.4 refuse to provide services;
7.6.5 return the delayed funds in the Excoincash account to the account of the Client from which they were received.
7.7 The measures specified in clause 7.6 of the Agreement may be applied to the Client only in the following exceptional cases:
7.7.1 if the Client violates the Agreement in substance or there is a real threat that the Client may violate the Agreement in substance;
7.7.2 if the actions of the Client using Excoincash services may damage the business reputation of Excoincash;
7.7.3 if the Client does not follow the necessary identification procedures, does not provide the information required by Excoincash, also if the Client does not comply with the requirements of Chapter V of the Agreement;
7.7.4 if the further provision of the Services and the activities of the Client may cause significant harm to the legitimate interests of third parties;
7.7.5 if Excoincash receives substantiated information about the Client’s liquidation, bankruptcy procedures;
7.7.6 in cases stipulated by law;
7.7.7 in other cases stipulated by the Agreement.
7.8 The measure specified in clause 7.6.5 of the Agreement can be applied to the Clients only if the return of the detained funds does not contradict the requirements given by the competent state / law enforcement agencies of Excoincash.
7.9 The purpose of the restrictions provided for in clause 7.6 of the Agreement is to protect Excoincash, other third parties and the Client from possible financial sanctions, losses or other negative consequences.
7.10 Excoincash will immediately (within one hour) notify the Client of such measures referred to in clause 7.6 of the Agreement, and about the possibility of refunding the Client’s funds, Excoincash will inform the Client within 2 (two) Business days after the suspension of the provision of services, except when the provision of such information may weaken security measures or is prohibited by law.
7.11 Excoincash, having reasonable suspicions that the Client carries out or may carry out money laundering, financing terrorism or other criminal activity, has the right to suspend the provision of Payment services without warning the Client and without providing any explanations or notifications for a period of 30 (thirty) days with the right to extend this period (without limitation for extensions) until suspicions are completely removed or confirmed.
7.12 If Excoincash reasonably suspects that the Client’s Account has been hacked, Excoincash also has the right to suspend the provision of Payment services to the Client without notice. After the termination of the provision of Payment services on the aforementioned basis, Excoincash will inform the Client about this and provide information on what actions the Client must perform in order to resume the provision of Payment services to the Client.
7.13 Excoincash is not responsible for the Client’s losses incurred as a result of the suspension of the provision of Payment services and other actions, if these actions were performed in accordance with the Agreement and in accordance with the terms and conditions set forth in the Agreement.
7.14 The Client has the right to unilaterally, without going to court, terminate the Agreement and notify Excoincash about it in writing 30 (thirty) calendar days in advance.
7.15 Excoincash has the right to unilaterally terminate this Agreement and refuse to provide Payment services without giving reasons, notifying the Client about it 60 (sixty) days in advance. Excoincash also has the right to unilaterally terminate this Agreement and refuse to provide Payment services for the reasons specified in clause 7.7 of this Agreement, notifying the Client about it 30 (thirty) days in advance.
7.16 At the request of Excoincash, the Agreement may be terminated immediately if no operations have been performed on the Client’s Account for more than one year.
7.17 Termination of the Agreement does not release the Client from the proper fulfillment of all obligations of Excoincash arising before the termination of the Agreement.
7.18 After the Client terminates the Agreement, Excoincash is obliged, in writing, on paper or on another durable medium, to provide the Client with free information about Payment transactions made within the last 36 months, and if less than 36 months have passed since the date of entry into force of the Agreement, within the term of the Agreement. The obligation set forth in this clause does not apply to Excoincash if the Client voluntarily refuses to receive such information by notifying Excoincash prior to termination of the Agreement through the Account or by e-mail.
8.1 The Parties undertake to protect each other’s technical and commercial information, with the exception of publicly available information about which they became aware of during the execution of the Agreement and not transfer it to third parties without the written consent of the other Party or its authorized representatives.
8.2 The Parties have the right to disclose confidential information without the consent of the other Party in the following cases:
8.2.1 The supervising institutions, auditors of the Parties, the Party representing attorneys;
8.2.2 persons directly involved in the provision of Payment services (for example, partners) for the purpose of proper execution of the Agreement and / or protecting and defending the violated rights and legitimate interests of Excoincash and / or the Client;
8.2.3 in other cases provided by law.
8.3 The Parties have the right to disclose confidential information in the cases provided for by the Agreement, only after making sure that the third party ensures confidentiality, secrecy and nondisclosure of the transmitted information, and also does not disclose it to a third party, without the consent of the Parties.
8.4 The Client undertakes to store and not disclose to third parties any passwords or other personal security measures created or provided to him under this Agreement, as well as not allow other persons to use the Services on behalf of the Client. The Client undertakes to familiarize himself with this requirement and apply this requirement to all his representatives who have been granted or will be granted access rights to the Client’s Account. If the Client did not fulfill the obligation specified in this clause and / or could, but did not prevent it, and / or such actions were committed intentionally or due to gross negligence, the Client assumes full responsibility for the losses incurred and undertakes to reimburse other persons for losses incurred due to the specified actions / omissions of the Client or his representatives.
8.5 If the Client or his representative loses the Account password or other passwords, or he / they will not be disclosed through the fault of the Client or Excoincash, or if there is / may arise a real threat of unauthorized access to the account and the Client’s Account, the Client or his representative undertakes to immediately change passwords, and if he is unable to do so, immediately (no later than one calendar day) notify Excoincash. Excoincash is not responsible for the consequences arising from the lack of notification.
8.6 After receiving the Client’s notification specified in clause 8.5. Of the Agreement, Excoincash will immediately suspend access to the Client’s Account and Excoincash Payment Services until a new password is provided / created for the Client.
8.7 Email associated with the Account, as well as other tools (for example, a mobile phone number) that are associated with the Account of the Client’s choice, are used as a means of communication with the Client and / or as tools for identifying the Client and therefore such tools and connections to them must be kept by the Client. The customer is solely responsible for securing the connection to his email, login and other tools, connections and passwords he uses. Passwords are confidential information, for the disclosure of which and for all operations performed after the Client has entered the password for the corresponding Account, the Client is responsible. Excoincash recommends that you remember your passwords and do not write them down and also do not enter them into any tools that other persons may see.
8.9 The Client is informed that Excoincash may send the Client direct marketing messages by e-mail containing relevant information up-to-date to the Client about other services provided by Excoincash. The customer may at any time (in advance or at any time later) unsubscribe from these communications by clicking the appropriate button in the direct marketing message received or by notifying Excoincash by email ([email protected]).
9.1 Each of the Parties is responsible for any losses incurred by the Party as a result of violation of the Agreement by the other Party. The guilty party undertakes to compensate the injured party for damage caused by the violation of the Agreement. Excoincash’s liability under the Agreement is in any event limited in accordance with the following provisions:
9.1.1 Excoincash will only be liable for direct losses of the Client;
9.1.2 Compensation for damage caused to Excoincash in case of violation of this Agreement cannot exceed the limit of 2000 euros (two thousand euros);
9.1.3 In all cases, Excoincash is not responsible for loss of profit or income, loss of reputation, loss of business or the collapse of the Client, consequential losses;
9.1.4 Excoincash’s limitations of liability do not apply if such limitations are prohibited by applicable law.
9.2 Excoincash does not ensure uninterrupted operation of the System, since many factors, uncontrolled by Excoincashu, can affect (disrupt) the System’s performance. Excoincash will try to ensure that the System works as smoothly as possible, but Excoincash will not be responsible for the consequences of System failures if such failures occur through no fault of Excoincash (for clarity, Excoincash will not be held responsible, in particular, for the consequences arising from failures of the center data processing, Internet access, cloud frame and other similar failures).
9.3 For reasons completely controlled by Excoincash, the System may not work, and Excoincash will not be obliged to reimburse the Client for losses incurred as a result of such inactivity if the System was available more than 99% (ninety nine percent) of the total time, on average within 3 ( three) months.
9.4 System failures will not be considered such cases when Excoincash temporarily, but not longer than 24 (twenty four) hours, restricts access to the System for repair, system improvement and other similar cases.
9.5 Excoincash is not responsible for:
9.5.1 criminal acts or transactions of third parties related to the use of forged and / or illegal documents or illegally obtained data;
9.5.2 mistakes made by banks, electronic money institutions and other third parties, late payments, withheld funds;
9.5.3 the consequences of any breach of Excoincash’s obligations for reasons attributable to a third party over which Excoincash has no control;
9.5.4 the consequences of legal termination of the Excoincash Agreement, cancellation or restriction of the Client’s access to the Account, as well as fundamental restriction / termination of the provision of Payment services;
9.5.5 failure to fulfill its contractual obligations and damage if the obligations have not been fulfilled and the damage is caused in the performance of Excoincash’s obligations established by law.
9.6 The Client is responsible and undertakes to reimburse any losses incurred by Excoincash, other Excoincash clients and third parties as a result of the Client’s use of the Excoincash Payment Services and violation of this Agreement.
9.7 The Client may incur losses of up to EUR 50 due to unauthorized Payment Transactions when these losses are related to the use of a lost or stolen payment instrument and / or misappropriation of a payment instrument.
9.8 The Client must periodically check the information about Payment transactions made in the System on his own behalf, and notify Excoincash in writing about unauthorized or incorrectly performed Payment transactions, as well as any other errors, inconsistencies or inaccuracies. The notification must be made immediately, but not later than 13 (thirteen) months from the date when Excoincash, in the opinion of the Client, performed an unauthorized Payment Transaction or did not perform a Payment Transaction incorrectly. If the Client does not provide the specified notifications within the specified time period, this shall be considered unconditionally agreed with the Client by the Payment operations performed in the System on his behalf.
9.9 Excoincash undertakes to immediately, no later than by the end of the next Business Day after it becomes aware of or notified of an unauthorized Payment Transaction, to return the amount of the unauthorized Payment Transaction to the Client and, where applicable, restore the balance of the Payment Account from which the amount was debited, which would be if the unauthorized Payment Transaction was not performed (unless Excoincash has reasonable grounds to suspect fraud and inform the Supervisory Authority about these grounds in writing, i.e.). Excoincash must also ensure that the Client does not incur any losses due to the interest or interests of Excoincash.
9.10 The Party is released from liability for non-performance of the Agreement if it proves that the Agreement was not executed due to force majeure, as established by law. The Client is obliged to notify Excoincash in writing about force majeure circumstances that have arisen that prevent the execution of the Agreement within 10 (ten) calendar days from the date of occurrence of these circumstances.
10.1 Excoincash strives to resolve all disputes and all claims with Clients in a peaceful, fast and acceptable way for the Parties. Thus, in the event of a dispute, Clients are advised to first of all contact Excoincash directly, in particular, to settle the submitted complaints and resolve disputes amicably, through negotiations.
10.2 Disputes between Excoincash and Clients are resolved as follows:
10.2.1 If the Client is an individual who is considered as a user (i.e. if the Client, as an individual, has entered into this Agreement with Excoincash solely for personal, family or business needs), such Client is an individual who believes that Excoincash violated his rights or legitimate interests arising from the concluded agreements or related relations, must contact Excoincash in writing (by e-mail [email protected] or directly through the Account), indicating the circumstances of the dispute and his claim. The Client must contact Excoincash no later than three months after the day the Client learned or should have learned about the violation of his rights or legitimate interests.
10.2.2 Upon receipt of such a request from the Client-user, Excoincash undertakes to provide the Client with a complete, substantiated, documented response to the Client’s request no later than fifteen (15) Business days from the date of receipt of the request. In exceptional cases, when a response cannot be provided within 15 (fifteen) Business days for reasons beyond the control and control of Excoincash, Excoincash sends a preliminary response to the Client, clearly indicating the reasons for the delay in the response and the deadline within which the Client will receive a final response … In any case, the deadline for submitting a final response should not exceed thirty-five (35) Business days from the date of receipt of the request.
10.2.3 Excoincash activities supervising supervisory authority. If the User-Client is not satisfied with Excoincash’s response to the request or the response is not made within the period stipulated in this Agreement, the User-Client has the right, within one year after the request in Excoincash, to apply to the Bank of Lithuania with a request to consider the consumer’s dispute in order to protect violated or disputed consumer rights or legitimate interests of the Client-User.
10.2.4 If by the consumer, such a Client who believes that Excoincash has violated his rights or legitimate interests arising from the concluded agreements or related relations, has the right to apply directly to the court. All disputes related to this Agreement shall be settled in the courts of the Republic of Lithuania. However, Excoincash strives to resolve any dispute in a peaceful, prompt and acceptable manner for the Parties. Therefore, in the event of a dispute, Clients are strongly encouraged to first of all contact directly the Client is a legal entity or an individual who is not considered in Excoincash, in particular, for the peaceful settlement of disputes through negotiations.
10.3 Clients (both individuals and legal entities) who have reasonable suspicions that Excoincash’s activities violate the applicable legislation of the financial market, the rights or legitimate interests of the Client or another person, have the right to file complaints with the Supervisory Authority in excoincash.com
10.4 The law of the Republic of united kingdom applies to this Agreement, other related documents, as well as to relations not regulated by the Agreement of the Parties. All disputes arising from and in connection with this Agreement shall be resolved in the competent court of the Republic of Lithuania in the manner prescribed by law.
11.1 Each Party confirms that it has all the permits and licenses required by applicable law to carry out activities necessary to comply with this Agreement.
11.2 The titles of the sections and articles of the Agreement are intended only for the convenience of the Parties and cannot be used to interpret the provisions of the Agreement.
11.3 The parties are independently responsible for the fulfillment of all tax obligations to the state or other entities. Excoincash is not responsible for the fulfillment of the Client’s tax obligations, the calculation and transfer of the Client’s taxes.
11.4 The Client has no right to transfer any rights and obligations arising from this Agreement to third parties without the prior written consent of Excoincash . Excoincash reserves the right to transfer the rights and obligations arising from this Agreement to third parties at any time without the consent of the Client, provided that such transfer of rights and obligations does not contradict the law.
11.5 If any provision of the Agreement is held invalid, the remaining provisions of the Agreement remain in effect.
11.6 The Agreement comes into force in accordance with clause 2.5 of the Agreement. The Client can save the text of the Agreement when registering in the System. The agreement is valid indefinitely.
11.7 This Agreement is available in the System in several languages. The Client is subject to the Agreement in the language in which he was acquainted with it when registering in the System.
11.8 In the Agreement, links to websites and other documents related to the Agreement, presented for review in the System, are an integral part of this Agreement and apply to the Client from the moment this Agreement enters into force. By agreeing to the terms of this Agreement, the Client, among other things, confirms familiarization with all the documents presented in the System.