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Volet.com System Terms and Conditions (CA)

Preamble

  1. This document (hereinafter — the Terms and Conditions) contains the principal provisions pertaining to the operation of the System and working in this System. System Services are provided, where applicable, by one or more of the following companies (hereinafter called the “Administrator”) depending on the services provided to the Customer:

    Queensland Foreign Exchange Inc., incorporation number 1000433476, registered at 50 Carroll St., Toronto, ON, Canada M4M3G3, is a registered provider of money service business (MSB), regulated by the FINTRAC Canada, MSB registration number: M23153297

  2. The Terms and Conditions define the principles and conditions on which the Administrator – provides the Customers with an access to the System Services, charging Fees as per the agreed Rates, and a Customer shall use the System and its Services in accordance with these Terms and Conditions and the Internal Policies.

  3. These Terms and Conditions are the Administrator’s official public offer intended for eligible parties regarding the opportunity to use the System and its Services.

  4. Pertaining to any and all matters not provided for in the Terms and Conditions, the Administrator may regulate such matters on the basis of its Internal Policies providing information regarding such Internal Policies on the Website. Acceptance of these Terms and Conditions means the Customer’s consent with all provisions of both the Terms and Conditions and the Internal Policies.

  5. The content of the Website is provided on an «as is» basis for information purposes only. The Administrator shall not make any guarantees, representations or warranties both express or implied, that the content of the Website is accurate, up-to-date, and complete and/or can be used as a basis for any action or inaction.

Definitions of Terms

  1. Account shall mean the virtual account of the Customer in the System registered in accordance with these Terms and Conditions and the Internal Policies. Unless otherwise specified, the Account shall mean both Business and Personal Account.
  2. Account Lockdown shall mean suspension by the Administrator of all the Transactions from all the Customer’s Wallets in case the activities of the Customer are deemed suspicious and controversial to the Internal Policies and the requirements of the current legislation.
  3. Administrator’s Contact Details shall mean the following address:
    • for communication by mail: Queensland Foreign Exchange, Inc., 50 Carroll St., Toronto, ON, Canada M4M3G3;
    • for communication via email: [email protected];
  4. Applicant shall mean either an individual, an individual entrepreneur or a legal entity willing to open an account within the System and submitting the registration application via the System during the identification under these Terms and Conditions;
  5. Authorization shall mean providing a person with the right to carry out the Transactions in the Account as a result of their authentication by the Login and Password.
  6. Authorization Details shall mean the data that allows the Customer to be authenticated. By default, the Authorization Details are the Login and Password of the Customer. The Administrator has the right, at its discretion, to require the Customer to use additional Authorization Details.
  7. Beneficial Owners shall mean individuals who directly or indirectly hold or control 10% or more shares of a legal entity.
  8. Business Account shall mean the Account opened by a legal entity or an individual entrepreneur duly registered in accordance with the requirements of the current legislation.
  9. Chargeback shall mean the procedure of cancelling a bank card payment initiated by the cardholder through their bank.
  10. Contact Details shall mean email address and mobile number entered by the Customer into the System.
  11. Customer shall mean an individual, an individual entrepreneur or a legal entity, being the Account holder, that has completed the Registration and has a right to use the System in accordance with the Terms and Conditions and the Internal Policies.
  12. Fees shall mean remuneration charged by the Administrator for the System Services provided to the Customer.
  13. Funds shall mean electronic money that is owned by the Customer and accounted for as funds in this Customer’s Wallet.
  14. Internal Policies shall mean Administrator’s internal documents that govern operation of the System, including the AML Policy and the Privacy Notice published on the Website.
  15. Login shall mean the Customer’s email address or an alphanumeric combination specified by the Customer.
  16. Merchant shall mean the Customer carrying out commercial activities and receiving the Funds from other Customers for any goods, works or services. Either an individual or a legal entity may be a Merchant.
  17. Parties shall mean the Administrator and the Customer.
  18. Password shall mean a combination consisting of letters, numbers and other symbols, specified by the Customer during the Registration and used together with the Login to access the Account.
  19. Payment shall mean the Funds accounted for as funds in the Wallet and transferred from the Customer to a third party or from a third party to the Customer.
  20. Payment Order shall mean an instruction given by the Customer in a form of the electronic document with the template provided by the Administrator through the System, requesting the execution of the Transaction.
  21. Personal Account shall mean the Account opened by an individual.
  22. Prohibited Activities shall mean activities characterized by one or more of the following qualities: constitute criminal offense in the Customer’s country of jurisdiction; are connected with sales of goods, works or services distribution (GWS) prohibited for sale in the Customer’s country of jurisdiction; are connected with sales of any GWS (any and all transactions) referred to in the Appendix 1 to the Terms and Conditions; contradict the accepted universal standards of ethics and morality.
  23. Registration shall mean the result of entering a person’s data in the System, after which the Customer accepted the Terms and Conditions and is identified by the System.
  24. Shell Bank shall mean a bank that has no physical presence in the jurisdiction in which it is registered, and which is unaffiliated with a financial organisation that is subject to relevant legislation.
  25. Store shall mean a website or a mobile application that is used by the Merchant for the sale of their goods, works, or services to the Customers.
  26. System shall mean a set of hardware and software developed, created and operating for the purpose of the Administrator’s providing the System Services to the Customer.
  27. System Services shall mean the Transactions entered into with the use of the System for receipt and transfer of the Funds from/to the Customers’ Wallets.
  28. Transaction shall mean an act initiated by the Customer of receiving to or sending from the Account the Funds within the System.
  29. Type of Wallet shall mean a Wallet in one of the available currencies.
  30. Unverified Account shall mean an Account of the registered Customer whose identity and/or mobile number was/were not verified. The System Services within the Unverified Account are provided with the limitations published on the Website.
  31. Verification shall mean confirmation of authenticity of the data entered by the Customer into the System by filling out an online questionnaire along with attaching supporting documents in accordance with the instructions in the Account, in compliance with the requirements of the current legislation and the AML Policy.
  32. Verified Account shall mean the status of a registered Customer’s Account who has entered their data to the System and confirmed it, after having completed the Verification in accordance with clauses 4.5. - 4.9. of the Terms and Conditions.
  33. Wallet shall mean the part of the Account which reflects the balance of the Funds owned by the Customer in one of the chosen currencies. One Account can have multiple Wallets in different currencies.
  34. Website shall mean www.volet.com.

General Provisions

  1. To become the Customer and use the System Services, the Applicant has to open the Account in accordance with the procedures stated in the Section 4.
  2. The Customer has the right to receive the information about the System Services provided by the Administrator, about these Terms and Conditions and the Internal Policies, to obtain access to the System Services in accordance with the Customer’s status and any other restrictions described by the present Terms and Conditions and the Internal Policies.
  3. The Customer may receive technical and informational support in relation to the use of the System Services.
  4. The Customer shall:
    1. comply with the provisions of the Terms and Conditions and the Internal Policies;
    2. provide accurate, complete and up to date information during the Registration in the System, the Verification and at any request of the Administrator due to the Terms and Conditions and the Internal Policies;
    3. not allow any third parties to use the Customer’s Wallet;
    4. take all reasonable measures to keep the Authorization Details secret and not to disclose them to any third parties. The Customer shall assume full responsibility for the security of the Authorization Details and for all the risks related to their loss, theft and/or compromise;
    5. immediately notify the Administrator via contacting the Customer support when discovering the Transaction carried out without permission of the Customer, unauthorized access to the personal information, or loss of the Authorization Details;
    6. use fully operational device with Internet access;
    7. not use any malicious software on their computer (or any other data carrier); use only licensed software; work with the System on a computer that has the following installed: antivirus software with the database updated to date, the updated version of a browser, all the necessary updates for the operating system and the software;
    8. not use the System to carry out the Transactions aimed at obtaining illegal profit or tax evasion;
    9. not use the System for any purposes that violate laws of the country of the Customer’s residence, including attempts to carry out Prohibited Activities under the applicable laws, including the Prohibited Activities listed in the Appendix 1;
    10. ensure that the Funds balance in their Wallets is not negative;
    11. undertake full responsibility for any cancelled, invalid, and disputed Transactions, and for any Chargebacks;
    12. not make the Transactions to/from the Shell banks.
  5. The Administrator shall provide the System Services to the Customers in accordance with these Terms and Conditions and the Internal Policies.
  6. The Administrator shall keep the Customer’s Funds credited to the Account in the System safe.
  7. The Administrator shall fulfil the Customer’s orders for disposal of the Funds in the Account within the framework provided for by these Terms and Conditions, the Internal Policies and current legislation.
  8. The Administrator shall retain the right to change the System Services, including updating software, procedures and interfaces.
  9. The Administrator may suspend operations of the System in the event of detecting any defects or failures, for maintenance purposes and the purpose of preventing unauthorized access to the System, and also in order to carry out preventive maintenance.
  10. The System Services are subject to the Fees in accordance with the Section 7 of the Terms and Conditions.
  11. The Administrator organizes and carries out control over the Customers’ compliance with the Terms and Conditions and the Internal Policies. The Administrator may refuse to carry out a Transaction in the cases that are prescribed by the Terms and Conditions, any other additional agreement, or the Internal Policies.

Registration, Verification and Accepting Terms and Conditions

  1. The Applicant willing to open the Account shall complete the Registration procedure: to fill out the Registration forms on the Website, to provide the Authorization Details and to accept these Terms and Conditions by clicking the «Register» button and ticking on consent to the processing of personal data in the relevant field in the Registration form.
  2. Once the Applicant accepts these Terms and Conditions, it shall be deemed a bilateral agreement of the Parties.
  3. During the Registration the Applicant shall provide the following information to the Administrator:
    1. An individual:
      • Name;
      • Surname;
      • Email address;
      • Password.
    2. A legal entity and an individual entrepreneur:
      • Name of the company or an individual entrepreneur;
      • Website;
      • Description of the business;
      • Name and surname of the director or the authorized person;
      • Country of incorporation and registered address;
      • An email address and mobile number of the contact person;
      • Authorization details.
  4. By accepting the present Terms and Conditions, the Applicant declares that they are acting on their own behalf only and not acting on behalf or in the interest of third parties.
  5. When undergoing the Verification in order to gain the full access to the Services, available to the Verified Accounts, the Customer shall provide the following data to the Administrator:
    1. An individual shall provide the Administrator with:
      • An image of a valid ID document issued by an authorized state body, containing a unique identification number and the Customer’s photo;
      • The Customer’s mobile phone number;
      • The Internal Policies may require the Customer to disclose information on the purpose of the Account opening, source of wealth, occupation and name of employer;
      • To identify the Customer and manage fraud, the Administrator may demand that the Customer undergoes authentication with the use of videoconference, including the use of the third-party services.
    2. A legal entity shall provide the Administrator with:
      • A copy of the certificate of incorporation of a legal entity;
      • A certificate of good standing if the company is more than twelve (12) months old or any equivalent document issued by the state body, confirming the current legal status of the Customer;
      • The documents confirming the powers of the person having a right of signature on behalf of the company;
      • Details of the Beneficial Owners of the entity in compliance with the requirements set for individuals in the paragraph 4.5.1. of these Terms and Conditions;
      • The Customer’s mobile number;
      • If the Account is replenished by a bank transfer, additional documents are requested, including the Customer’s bank account statement;
      • The Internal Policies may call for provision of additional information.
    3. Individual entrepreneurs shall provide the Administrator with:
      • A copy of the certificate of state registration of an individual entrepreneur;
      • A certificate confirming an individual entrepreneur’s legal capacity if their state registration took place more than 12 (twelve) months ago, or a similar document issued by the state body and confirming the Customer’s due legal status;
      • Details of the individual registered as an individual entrepreneur in compliance with the requirements set in the paragraph 4.5.1. of these Terms and Conditions;
      • The Customer’s mobile number;
      • If the Account is replenished by a bank transfer, additional documents are requested, including the Customer’s account statement;
      • The Internal Policies may call for provision of additional information.
  6. To verify the phone number stipulated by the Customer in the System, the Administrator shall send an automatically generated one-time password to the stipulated phone number that should be entered on the Website.
  7. If the data subject to clauses 4.5.1. - 4.5.3. is not provided or proved to be unreliable, incomplete, outdated in full or in part, the Verification shall be deemed failed, and the Account shall be subject to restrictions provided for the Unverified Accounts.
  8. The Verification process usually shall be performed within 24 hours after the Customer has provided the requested data. The Verification may exceed the period of 24 hours, in case the Administrator has a reasonable ground to perform the enhanced due diligence.
  9. The Verification shall be deemed completed at the moment the Customer receives the confirmation from the Administrator via the email or via the phone number provided by the Customer in the System at the choice of the Customer. Once the Verification is completed, the Customer may use the full scope of the System Services available for the Verified Accounts.
  10. The Customer shall notify the Administrator about any changes in the data provided for the Verification in a timely manner and provide up-to-date data as soon as reasonably possible.
  11. The Administrator may regularly verify whether the data filed by the Customer is up to date. If any unreliable, incomplete, outdated data, expired filed documents are detected, the Administrator may request that the Customer files up-to-date data within 14 days.
  12. If the Customer fails to file the requested data within the period provided for by clause 4.11., the Administrator may cancel the Account Verification and impose the restrictions provided for the Unverified Accounts.

Account

  1. Once the Applicant completes the Registration, the Account is created, and the Applicant becomes the Customer.
  2. The Customer may open separate Wallets for the different currencies available for use. All the Funds transferred to the Customer’s Account are stored in the Wallets in corresponding currencies.
  3. The Funds can be kept in the Wallet for an indefinite period of time, and no interest is charged or incurred for any Funds kept in the Wallet.
  4. Certain limits may be applicable to the Wallet in respect to replenishment of the Funds, payments and withdrawals of the Funds, depending on the Customer’s status, the Type of Wallet, and other factors that the Administrator may take into account. These limitations are determined in accordance with these Terms and Conditions and are available on the Website.
  5. The Customer may use the Unverified Account with the applicable limitations or upgrade to the Verified Account by the means of the Verification set out in the paragraphs 4.5.- 4.9.
  6. The Customer may open a Personal and/or a Business Account. The special features of the Personal and Business Accounts are available on the Website.
  7. To open the Account, an individual must be 18 years or older, acting in full capacity in accordance with their national laws. By creating the Personal Account, the Customer declares that they have reached the age of 18, the Administrator may demand that the Customer files a confirmation of their age at any time.
  8. To open the Business Account, the Customer must be a legal entity or an individual entrepreneur having full capacity to open the account in accordance with the laws and requirements of their country of incorporation.
  9. Accounts may not be opened for US citizens, US permanent residents and legal entities incorporated in the US.
  10. The Customer may open the Account only if this does not contradict the provisions of the laws of the country of their permanent residence or the Customer’s registration. By opening the Account, the Customer declares and guarantees to the Administrator that opening of such an Account by the Customer does not violate any laws or regulations applicable to the Customer. The Customer shall compensate the Administrator an amount of all losses incurred by the Administrator if the Customer violates provisions of this clause.
  11. In case the Customer intends to open the Business Account, the additional agreement shall be made between the Administrator and the Customer. The Customer must comply with the provisions of such applicable additional Agreement along with the obligations under these Terms and Conditions and the Internal Policies.
  12. The information on the Customer’s Transactions with the Funds and use of their Wallet is recorded and kept by the Administrator for the duration of the effective term of these Terms and Conditions and for a period of 5 (five) years after these Terms and Conditions are terminated and the Account is closed.
  13. By making the new Transaction resulting in the change of balance of the Funds in the Wallet, the Customer confirms the Wallet balance. The Customer’s confirmation is expressed by clicking the appropriate button confirming the new Payment Order.
  14. An access to the Wallet and any Transactions involving the use of the Wallet are only available upon the Authorization.
  15. The Login is generated by the System by default from the email stipulated by the Customer upon the Registration or changed upon the Customer’s request sent to the Customer support. The Password shall be generated by the Customer independently. The Login and Password shall be used for the Authorization and can be changed at any time.
  16. The Customer is responsible for keeping the Authorization Details confidential. Any actions related to the Wallet performed with the use of the valid Authorization Details shall be considered to be as actions performed by the Customer.
  17. In case the Customer fails to enter the Authorization Details 3 times, the Account shall be blocked. To recover the access to their Wallet, the Customer shall contact the Customer support.
  18. In case the Customer loses the Authorization Details, the Customer shall contact the Customer support and request to recover the access to their Wallet.
  19. In order to recover the access to the Personal Account:
    1. The Customer requests the link to be sent to the email provided by the Customer in the System;
    2. In case the Customer has verified the mobile number, the Customer receives a digital code via SMS and enters the received code on the Website available by the link sent to the Customer’s email indicated by the Customer in the System;
  20. In order to recover the access to the Business Account:
    1. A request for restoring the access is to be sent to the Customer support.
    2. The Customer receives a digital code via SMS and enters the received code on the Website available by the link sent to the Customer’s email indicated by the Customer in the System.
  21. In case the activities of the Customer are deemed suspicious or controversial to the Terms and Conditions, other agreements concluded between the Customer and the Administrator, the Internal Policies or the requirements of current legislation, the Administrator shall notify the Customer via the email address indicated by the Customer in the System on such suspicious activities, suspected or actual fraud or security threats.
  22. The Administrator reserves the right to perform the Account Lockdown without prior notification of the Customer in case of objectively justified reasons relating to the security of the Account, the suspicion of unauthorized or fraudulent use of the Account, the violation of the provisions of the Terms and Conditions or the Internal Policies.
  23. The Administrator shall unblock the Account once the reasons for the Account Lockdown no longer exist.
  24. The Customer may close the Wallet at any time by contacting the Customer Service. Closing the particular Wallet does not lead to the Account closure.
  25. The Customer is restricted from registering multiple Accounts, except opening one Personal Account and one Business Account as an individual entrepreneur. Otherwise, the Administrator shall have the right to automatically mark such accounts as fraudulent and suspend the provision of the System Services of all such Accounts.

Transactions

  1. The Customer may replenish their Wallet by logging into their Personal Account on the Website and following the relevant instructions for the Wallet replenishing. The ways of the Wallet replenishing may vary depending on the location of the Customer. The currently available ways are available on the Website.
  2. Wallet replenishment and the withdrawal of the Funds services are the payment services provided by third parties; therefore, they are not a part of the System Services.
  3. The Wallet replenishment is carried out in accordance with the procedure set forth in the Terms and Conditions, the Internal Policies, policies of third parties that provide services, and applicable law.
  4. The Administrator may restrict the range of the Wallet replenishment methods for certain categories of the Customers depending on the degree of risk of the activity and/or transactions of the Customer.
  5. When the Wallet is credited by third parties, all rights and responsibilities pertaining to the Funds credited to such Wallet shall be the Customer’s. Such transactions made by the third parties are considered by the Parties as activities by a third party on the Customer’s behalf and for the Customer’s benefit.
  6. The Administrator sets the limits for the Wallet replenishment for the security reasons. The limits are displayed on the Wallet page.
  7. Additional fees may be charged by third parties for the Wallet replenishment, depending on the method of the replenishment.
  8. The Transfer of Funds is carried out on the basis of the Customer’s Order electronically with the use of the Wallet.
  9. When the Administrator receives the Order to transfer the Funds from the Customer’s Wallet, the Administrator identifies the Customer using the Authorization Details. In some cases, the Administrator may demand that additional identification procedures should be completed before the Payment Order is fulfilled.
  10. All the Transactions carried out with the use of the Authorization Details of this Customer shall be considered as Transactions carried out by this Customer unless the Administrator is notified on the unauthorized or fraudulent use of the Account in accordance with the paragraph 3.4.5.
  11. The Transaction not exceeding the applicable limits set for the Wallets shall be performed without undue delay not later than 24 hours after the Payment Order is received by the Administrator. The timing of the Transaction that depends on third-party financial services is determined in accordance with the policies of such third parties. The Administrator shall not be liable for the delay caused by the fault of the third parties.
  12. The Customer may enable notifications of the executed Payment Orders in their Account on the Website.
  13. The Administrator may restrict the list of payees of the Funds for certain categories of the Customers depending on the degree of risk of the activity and/or transactions of the Customer. Specific restrictions are available on the Website.
  14. The Administrator may restrict the list of available withdrawal methods of the Funds for certain categories of the Customers depending on the degree of risk of the activity and/or the Transactions of the Customer. Specific restrictions are available on the Website.
  15. Existing limits on the amount of the balance of the Funds in the Wallet and amount of payments applicable to different statuses of the Accounts and categories of the Customers, depending on the level of risk associated with the Customer’s activities, and/or Transactions are available on the Website.
  16. The Customer may choose a method for a withdrawal by creating a request for a withdrawal of the Funds from their Wallet. During the withdrawal of the Funds, the Customer may be requested to proof their identity. For the withdrawal of the Funds, an amount of the Funds on the Customer’s Wallet should be sufficient to cover the Fees for the withdrawal of the Funds.
  17. To replenish the Wallet with the use of a bank card, the Administrator may request the Customer to undergo the verification procedure "Know Your Customer" in accordance with the AML Policy.
  18. If the Customer successfully completes the identification procedure and the Funds are credited from the Customer’s bank card to the Wallet, the card transaction is non-refundable. If the Customer does not complete the identification procedure, the card transaction is refunded automatically. The refund to a bank card may take up to 14 business days depending on the Customer’s bank’s policies.
  19. The Customer may download the electronic reporting documents on the executed Transactions for any period of time at their own discretion in their Account free of charge.
  20. All the Transactions executed by the Customer using the System are final and are not subject to disputes, revisions or cancellations, with the exception of the Wallet replenishment Transactions performed using the external systems that have been classified as fraudulent.
  21. When the Customer loads their Wallet with a card, these refund rules apply. If the Customer completed the card verification and received the Funds to the Wallet, the card Payment becomes non-refundable. If the card verification is not completed, the pending card Payment is dropped automatically. The Customer's bank may need several business days (usually 2 to 14) for the Funds to return to the card balance.

Rates and Procedures for Charging Fees

  1. The Administrator shall charge the Fees for the Services provided to the Customer.
  2. The amount and procedures for charging the Fees are available on the Website in the «Fees» section.
  3. The Administrator may unilaterally change the Fees rates. Such changes and amendments shall come into effect from the day that such changes and amendments are published on the Website.
  4. All Fees are calculated in the currency of the Transaction and rounded off to the nearest whole cents.
  5. The System Services provided to the Customer by the Administrator are not subject to VAT or any other turnover taxes.
  6. All the applicable Fees are charged from the Customer’s Wallet by the Administrator upon the completion of the Transaction subject to the Fees, or at the moment when the Administrator has substantiated grounds to charge the applicable Fees.
  7. If the current balance on the Wallet is not sufficient to charge the applicable Fees, the Administrator may reject the Transaction and request the Customer to pay the applicable Fees.
  8. The exchange rates applicable to the Transfer of the Funds between the Wallets in different currencies are calculated in accordance with the Open Exchange Rates platform plus a Fee established by the Administrator. The final exchange rates applied to the Transaction are fixed at the time of the Transaction and are reflected in the Account prior the Payment Order initiated by the Customer.

Personal Data

  1. The Administrator processes personal data of the Applicants and the Customers. The Privacy Notice applicable to the Applicants and the Customers is available on the Website as a separate document.

Liability

  1. In the event of failure to comply and/or improper fulfilment of the obligations under these Terms and Conditions, the Parties shall be responsible in accordance with the provisions of these Terms and Conditions, the Internal Policies, and the applicable laws.
  2. If the Customer delays the fulfilment of any obligation in the monetary form as set forth in these Terms and Conditions, the Customer shall pay to the Administrator a penalty fine in the amount of 0.1% (one tenth of a percentage point) of the amount of such delayed funds to be transferred to the Administrator for every day of such delay. The Customer shall pay to the Administrator the penalty fine as specified in this paragraph of the Terms and Conditions within 3 (three) business days after the date the Customer receives a relevant request from the Administrator in writing or electronically. The Administrator has the right, but not the obligation to send a penalty fine payment request.
  3. The Customer shall repay to the Administrator the damages incurred as a result of any damages charged from the Administrator due to the Customer’s violations of the applicable laws when using the System on condition that the Administrator can provide the relevant documents that confirm the amount of the damages incurred by the Administrator.
  4. The Customer shall be responsible for all the Transactions accounted for in the Wallet, including any Transactions with the use of bank payment cards. These Transactions shall also include the Transactions executed by third parties that have access to the Customer’s Wallet.
  5. The Customer shall take full responsibility to get acknowledged with the current legislation of the Customer’s residence, regulating the Account opening and money transfer Transactions via the System. The Administrator shall not be liable for any breach of the national laws by the Customer resulted from the use of the System. If the Customer’s use of the System and Services contradicts the laws of this Customer’s jurisdiction, such Customer should immediately stop using the Services.
  6. The Customer shall take full responsibility for all the risks related to the use of the Internet during the Customer’s interaction with the Administrator, other Customers and third parties.
  7. The Customer shall not undertake any activity that misleads other parties about the Services offered by the Administrator, which can directly or indirectly damage the Administrator’s reputation, including but not limited to impersonating themselves as representatives of the Administrator in any way or context, providing false data related to the System including but not limited to falsifying transaction IDs, wallet IDs and any other data such as text, screenshots, or any other media, creating clones of the Administrator’s website, and other similar activities. In case of violation the Administrator reserves the right to block the Customer’s Accounts, freeze the Funds for the period of investigation, and limit the usage of the System in other ways. The Administrator also reserves the right to pursue legal action in courts of applicable jurisdiction, including cases when this rule is violated by other parties that are not the Customers of the Administrator.
  8. The Customer shall protect the Administrator’s interests, reimburse the Administrator’s losses and pay compensations to the Administrator as well as indemnify the Administrator and its affiliates against any claims or damages, costs or expenses (including expenses for legal support, penalties or forfeits) resulting from violation by the Customer of these Terms and Conditions or any applicable laws or regulations and/or use of the System. This provision shall survive termination of relations between the Parties.
  9. If, through the Customer’s fault, a completed Payment serves as a ground for a payer to file a claim to the Administrator for protection of their violated right, the Administrator may demand that the recipient of the Funds reimburses losses resulting from collection of funds or other property from the Administrator to the benefit of the payer.

Disclaimer

  1. The Administrator shall have no responsibility to the Customer:
    1. If the Customer transfers their data to any third parties, deliberate provision of access to their Wallet in the System, or any other violation of the confidentiality of the Customer’s information caused by the Customer’s fault;
    2. For illegal activities of any third parties, including those related to the use of the Customer’s registration data and the Customer’s email or the Authorization Details;
    3. For presence of any viruses or any other malicious software in the hardware and software used by the Customer to access the System;
    4. For any disputes pertaining to any transactions between the Customers made via the System;
    5. For violation of the current legislation by the Customer in relation to the use of the System as well as for the complaints pertaining to the Customer from tax, regulation, and law enforcement authorities regarding any reporting documentation or taxation in relation to the Customer’s transactions involving the System;
    6. If the Customer does not have access to the software or hardware that ensure the use of the System;
    7. If the Customer cannot be reached by using the Contact Details filed thereby, particularly, due to the reason that the Customer filed unreliable data or fails to update such data in a timely manner;
    8. For any payment services provided to the Customer by third parties;
    9. For any actions taken by third parties whose websites the Customer visited following a link or information provided on the Website;
    10. For temporary inoperability of the System, malfunctioning and errors in the operation of hardware or software (including disconnection or damage of electricity supply and communication networks, software malfunctioning, interruption of mail services, Internet provider’s, payment system operations, disruption in other lines, channels and/or networks that are provided, offered or serviced by third parties, etc.), occurred not through the Administrator’s fault; in this case, the Administrator shall not bear responsibility for the Customer’s possible losses.
  2. In the event of the loss of the Authorization Details, the System’s locking the Wallet, the Customer’s loss of the Password, the Wallet Lockdown, or other events that cannot be remedied without the confirmation of the Customer’s identity, the Administrator shall have no responsibility if the access to the Account cannot be recovered because the Customer is lacking access to their email, mobile number, or the inability to provide other information in order to confirm their identity in accordance with the provisions of clauses 5.20 of the Terms and Conditions.
  3. The Administrator shall not be responsible for any damages and losses incurred by the Customer or by any third party as a result of:
    1. The Wallet Lockdown in accordance with these Terms and Conditions or the requirements of the law;
    2. Failure to pass the Verification;
    3. Incorrect completion of the Payment Orders to carry out the Transactions or completion by mistake;
    4. Violation by the Customer of the established procedure for making the Payments;
    5. Administrator’s or third parties’ compliance with the legislative or regulative requirements;
    6. Failure to read the up-to-date version of the Terms and Conditions or the Internal Policies and other information published on the Website;
    7. Impossibility to use a desired payment method at the Customer’s location;
    8. Violation by the Customer of these Terms and Conditions or the Internal Policies, as well as the Administrator’s instructions and guidelines.
  4. In any event, the Administrator’s responsibility to the Customer shall always be limited to the amount that does not exceed the amount of the Fees charged to such Customer for a period of the previous 3 months.
  5. The Administrator shall not be responsible for any indirect or consequential damages incurred by the Customer or any third parties, including any loss of profit, loss (forfeit, non-receipt, unsubstantiated spending) of revenue, income, contracts, customers, time, data, enterprise, or reputation.
  6. The Administrator shall provide to the Customer the Services «as is» as at the moment, without any express, implied or statutory representations or guarantees.

Communication Between the Parties

  1. The Administrator shall use the Contact Details as means of communication with the Customer.
  2. The communication between the Customer and the Administrator may be done in English language.
  3. The Customer may contact the Administrator at any time using the Customer support chat available on the Website, or by the email [email protected].
  4. The Administrator may inform the Customer on the changes in the Services provided either by sending email notifications or by posting the updates on the Website.
  5. The document flow between the Customer and the Administrator shall be in electronic form via the Account. Moreover, the use of the Authorization Details by the Customer shall be deemed by the Parties due and sufficient method of the Customer Authentication for the purposes of the document flow as well as for confirmation of authenticity and integrity of the provided electronic document, except for the cases provided for by the Terms and Conditions or the Internal Policies. Entering the Customer’s Authenticated Data shall be deemed by the Parties equal to the Customer’s handwritten signature.
  6. Administrator may send emails to the Customer informing about new features of the Wallet and special offers. By accepting these Terms, the Customer agrees to receive such communication. The Customer may unsubscribe anytime.

Term and Termination

  1. These Terms and Conditions shall be in effect for an indefinite period of time until terminated in accordance with the provisions stated below.
  2. The Customer may close the Account at their discretion at any time if the Customer does not have any unfulfilled obligations to the Administrator. The Account can be closed at the Customer’s personal account.
  3. After the Customer initiates closure of the Account, the execution of the Transactions with the use of the Account shall be impossible. Any monetary obligations of the Parties created prior to the date of deletion of the Account shall retain until they are fully executed.
  4. In case any Funds remain on the Account of the Customer with whom the Agreement is terminated, the Administrator shall transfer the remaining Funds to the payment details indicated by the Customer, deducting the applicable fees.
  5. The Administrator may unilaterally terminate these Terms and Conditions, sending the obligatory written notification to the Customer no later than two months in advance.
  6. After the Account is deleted, information on completed Transactions shall be kept by the Administrators for 5 years in accordance with the requirements of the law.

Amendments

  1. The Administrator may unilaterally amend these Terms and Conditions by publishing the updated text on the Website.
  2. The Administrator shall notify the Customer on the upcoming amendments of these Terms and Conditions by posting an informational message inside the Client’s Account no later than 2 (two) months before such amendments come into force. The Customer shall either accept or reject the changes before the date of their proposed date of entry into force. The Customer shall notify the Administrator on rejection of the amendments via contacting the Customer support. In case of rejection, the Agreement shall be terminated on the date the amendments enter into force.
  3. The amendments come into force since the updated text is published on the Website.
  4. The use of the Services by the Customer shall be considered as the unconditional acceptance of the updated Terms and Conditions.
  5. Any appendixes to the Terms and Conditions shall constitute the integral part of these Terms and Conditions.
  6. Without limitations to the provisions stated in the present Section 13, the period stated in the paragraph 13.2. does not cover the notification timeframe to any amendments of the Fees applicable to the Services provided by the Company. The Fees changes may be applied immediately and without prior notice.

Force Majeure

  1. The Parties shall not be responsible for any delays in the performance or non-performance of the obligations, any expenses, including losses, and costs related to complaints by any third parties that may result from any acts of God, acts of civil or military authorities, civil disturbances, strikes or other labour disputes, fires, transportation contingencies, interruptions in telecommunications, utility, Internet services or network provider services, acts or omissions of a third party, infiltration or disruption of the services by a third party by any means, including without limitation, DDoS attacks, software viruses, Trojan horses, worms, time bombs or any other software program or technology designed to disrupt or delay the Services (each a «Force Majeure Event»). The Party experiencing the impact of any Force Majeure Event shall notify the other Party within 10 days after the commencement of such Force Majeure Event.
  2. The provisions of paragraph 14.1. shall not limit or terminate the Customer’s obligations pertaining to making the returning Payments, as well as payment of any fines, penalties, fees, commissions, returning any goods, or (not) performing any works or services after the Force Majeure is over.

Miscellaneous

  1. These Terms and Conditions and the relations between the Administrator and the Customer arising from them are governed by the laws of Canada for all relations concerning the System Services rendered by Queensland Foreign Exchange, Inc.;
  2. All the disputes between the Parties arising from these Terms and Conditions shall be settled through negotiations. The basis for negotiations shall be either Party’s submitting a written complaint to the other Party. All the complaints and claims shall be reviewed within thirty days of their receipt.
  3. In case a dispute cannot be resolved by negotiations within the specified period of time, either Party may apply to a court. The following courts shall have the jurisdiction to settle any dispute arising out of or in connection with these Terms and Conditions the courts of Canada for all relations concerning the System Services rendered by Queensland Foreign Exchange, Inc.;
  4. The choice of law and jurisdiction in the clause 15.3. does not affect the mandatory rights of the Customer under the laws of the country of their residence.
  5. The Customer shall not transfer any rights or obligations under these Terms and Conditions to any third party without the prior written consent given by the Administrator.
  6. If any provision of these Terms and Conditions is held to be invalid or unenforceable, such provision shall be struck out and the remaining provisions shall be enforced.
  7. This Agreement enters into force since the Applicant clicks the «Register» button during the Registration process.
  8. The Customer acknowledges and confirms that all the provisions of the Terms and Conditions are clear, and that the Customer agrees with the Internal Policies available on the Website, accepts them unconditionally and shall comply with their provisions and requirements.



APPENDIX 1
TO Volet SYSTEM TERMS AND CONDITIONS

Goods, Works, and Services Prohibited for Sale via the System:

  1. Weapons, arms, ammunition and defense products, guns, replicas of firearms or cold steel weapons.
  2. Drugs, drug-like substances and plants (including marijuana/cannabis), as well as their ingredients, or any substances for their production, as well as descriptions of methods for producing such substances.
  3. Medical drugs and medications dispensed on prescription only, as well as raw materials or instructions for their production.
  4. State awards or distinguishing badges.
  5. Identification documents and government issued documents (including falsified documents), and everything connected with creating or obtaining false identification documents or counterfeit government issued documents.
  6. Government agencies’ uniforms.
  7. Specialty items related to the police and law enforcement agencies.
  8. Electronic equipment prohibited for use in this country or region.
  9. Devices used for hacking and tampering with locks.
  10. Information containing personal data or data suitable for undertaking illegal activities (spam emails, etc.).
  11. GWS or information containing state, banking, or trade secrets.
  12. GWS whose sale violates any third parties’ copyright and/or related rights, trademark rights, or patents.
  13. Information that violates a person’s privacy, infringing upon the honor, dignity and business reputation of individuals and legal entities.
  14. Information transmitted exclusively virtually and not recorded on any material carrier (ideas, methods, principles, etc.).
  15. Archaeological heritage items.
  16. Precious metals.
  17. Items or services that violate the norms of public morality (including, but not limited to, child pornography, Nazi memorabilia items, escort services, prostitution, and adult).
  18. Any items with available initially but removed serial numbers.
  19. Internet gambling.
  20. Malicious software.
  21. Goods or services directly or indirectly compelling illegal actions (promoting social, racial, religious, or ethnic strife; discrimination, violence, hatred, revenge, harassment; containing propaganda of terror or physical harm).
  22. Perishable goods.
  23. Fake or counterfeit goods.
  24. Items and equipment intended for use (including illegal transfer) of copyright protected items without the permission of the authors (including, but not limited to, components designed to remove copyright protection or regional restrictions, or software elements of electronic devices).
  25. Dangerous goods (including, but not limited to, those that contain explosive, toxic, poisonous, and/or radioactive materials).
  26. Information about the production of explosive, pyrotechnic, incendiary, and other similar substances and devices.
  27. Human organs and human remains.
  28. Goods or services that have no value in use.
  29. Services of auctions or trading systems that allow carrying out activities excluding transfer of GWS that have value in use.
  30. Financial or payment instruments whose accounting systems do not ensure proper identification of the owner for the purpose of combating illegal trade, financial fraud, and money laundering of funds obtained by illegal means.
  31. Asset management and investment services provided by unlicensed businesses, as well as any intermediary activity that facilitates the transfer of funds between the parties entering into a transaction forbidden herein.
  32. Items of artistic and historical value that constitute a country’s cultural values.
  33. Services of organizers and operators of lotteries, betting, casinos and any other types of gambling.
  34. Services of advertising (promoting) goods, works and services specified in items 1-33 of this list.

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