TERMS AND CONDITIONS FOR CORPORATES
ELECTRONIC MONEY ACCOUNTS
This Agreement: This Agreement is with PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”, “we” “us”). We are an Electronic Money Institution (“EMI”) and are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (“EMR 2011”) (register reference 900594) for the issuing of electronic money.
Our relationship with Finadvant Limited: As an EMI, we have appointed Finadvant Limited as an EMD Agent. An EMD Agent means a person who provides payment services on behalf of an electronic money institution (as defined in the EMR 2011). As our EMD Agent, Finadvant Limited is authorised to provide associated payment services alongside our e-money account services.
1. OUR TERMS
1.1. Interpreting this Agreement. In order to easily understand the terms of this Agreement, please first refer to clause 3 which, amongst other things, sets out the meaning of capitalised terms used in this Agreement.
1.2. Why you should read it? Please read this Agreement carefully before you agree to it, as its terms apply to the services provided by us. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only complete the sign‑on procedures and agree to the terms of this Agreement if you agree to be bound by this Agreement.
1.3 Are you a Micro-Enterprise or Charity or Consumer? For the avoidance of doubt, these terms and conditions are not intended for Micro Enterprises or Charities or Consumers (individuals acting for a purpose other than a trade, business or profession).
2. INFORMATION ABOUT US AND HOW TO CONTACT US
2.1. Who we are. We are PayrNet Limited, an EMI as described above.
2.2. Communications between us are to be in English. This Agreement is concluded in England and all communications between you and us shall be in English only.
2.3. How to contact us. All queries should be directed towards Finadvant Limited. You can contact Finadvant Limited using details set out on our website and in-app.
2.5. How we may contact you. If we have to contact you we will do so as follows: in the first instance via Finadvant Limited except in urgent cases. If we have not been able to contact you through Finadvant Limited or if the matter is urgent we will contact you by writing to you at the email address(es), you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us or with Finadvant Limited.
2.6. ‘Writing’ includes emails. When we use the words “writing” or “written” in this Agreement, this includes emails.
2.7. Some of the services we provide are subject to the Payment Services Regulations 2017. The Regulations regulate how Payments must be transmitted and provide protection for the clients of authorised payment institutions and electronic money institutions.
3.1. The definitions set out in this clause apply in this Agreement as follows:
“Electronic Money” means electronically stored monetary value as represented by a claim against us.
“Regulations” means the Payment Services Regulations 2017 (SI 2017 No. 752).
“Safeguarded Account” means the bank account(s) belonging to us, which are separate to our own office bank accounts, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.
“Services” means the e-money account services.
3.2. Clause headings shall not affect the interpretation of this Agreement and references to clauses are to the clauses of this Agreement.
3.3. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
3.4. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.
3.5. A reference to a statute or statutory provision is a reference to it as amended, extended or re‑enacted from time to time and reference to a statute or statutory provision shall include all subordinate legislation made from time to time.
4. TERM AND BECOMING A CLIENT
4.1. How can you agree to this Agreement? You can agree to this Agreement by ticking the ‘Agree to our Terms and Conditions’ box in a Client Portal of Finadvant Limited via the website when you asked to register for a User Bank Account.
4.2. When will you become a client of ours? You will be bound by this Agreement once you have agreed to it as set out above and this Agreement shall remain in force until terminated in accordance with its terms.
5.1. As part of the Services, we shall issue you with Electronic Money upon receipt of money from you or a third party on your behalf, store your Electronic Money and redeem Electronic Money both on your express instruction and in accordance with this Agreement and the agreement of Finadvant Limited.
5.2. Our Services do not include the provision of advice. We do not offer advice under this Agreement on any matter including (without limit) the merits or otherwise of any currency transactions, on taxation, or markets.
6. ISSUING ELECTRONIC MONEY TO YOU
6.1. For the avoidance of doubt, this section is only applicable for unregulated entities and Small Payment Institutions (SPI).
6.2. Where we receive money from you or on your behalf, this money will be held by us in the relevant Safeguarded Account in exchange for the issuance by us to you of Electronic Money. Your funds will not be used by us for any other purpose and in the unlikely event that we become insolvent, your e-money is protected in an EEA-authorised credit institution or the Bank of England.
6.3. When we issue you with Electronic Money, us holding the funds corresponding to the Electronic Money is not the same as a Bank holding your money in that (i) we cannot and will not use the funds to invest or lend to other persons or entities; (ii) the Electronic Money will not accrue interest; and (iii) the Electronic Money is not a deposit and is therefore not covered by the Financial Services Compensation Scheme but it is held by us and protected in the relevant Safeguarded Account.
6.4. You may hold Electronic Money and we may hold funds corresponding to your Electronic Money indefinitely. However, if we hold Electronic Money for you for more than two years without any activity on the account, we shall use reasonable endeavors to contact you to redeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.
6.5. We accept no responsibility in the event that you send money to the incorrect account.
6.6. We do not accept cash or cheques. We accept monies via a variety of methods of electronic funds transfer to our bank account, the details of which we shall provide to you upon request.
7. GENERAL LIMITATION OF LIABILITY
7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
7.2. Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
7.3. Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.
8.1. If you feel that we have not met your expectations in the delivery of our Services, in first instance contact Finadvant Limited using the contact email address for complaints set out on the website and the app. If Finadvant Limited does not deal with your complaint adequately, please contact us via email to firstname.lastname@example.org.
8.2. We have internal procedures for handling complaints fairly and promptly in accordance with the Financial Conduct Authority’s requirements. A copy of our complaints procedure is available upon request.
8.3. If you are an eligible complainant you may be able to take your complaint to the Financial Ombudsman Service should you not be satisfied with our final response. Eligibility criteria and information on the procedures involved are available from http://www.financial‑ombudsman.org.uk. In addition, please note that disputes may be submitted for online resolution to the European Commission Online Dispute Resolution platform.
9. ESTABLISHING YOUR IDENTITY
9.1. To comply with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and EU Wire Transfer Regulations (Regulation (EU) 2015/847) and related regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity (or directors or partners of your business and/or your ultimate beneficial owners) in our records from time to time. If satisfactory evidence is not promptly provided to us we cannot accept your instructions.
9.2. We may keep records of the contents and results of any searches that we carry out on you (or directors or partners or shareholders of your business) in accordance with all current and applicable laws. You acknowledge that us carrying out an electronic verification check or, if required, a credit reference agency check will leave a soft footprint on the individual or entity’s credit history. You warrant that you have obtained the consent to such checks being carried out from each such individual officer and shareholder.
9.3. We are obliged to report any reasonable suspicions about activities on the electronic accounts to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.
10.1.When we may terminate or suspend this Agreement.
10.1.1. We can terminate this Agreement at any time:
10.1.1.1. If you breach this Agreement; and/or
10.1.1.2. if we suspect that you are using the Services for any illegal purposes.
10.1.2. We may suspend or terminate your access to the Services where we have reasonable grounds for concern relating to: (i) the security of your account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).
10.1.3. If the Finadvant Limited notifies us that their agreement with you has terminated we can terminate this Agreement with immediate effect.
10.1.4. If you terminate your agreement with the Finadvant Limited or that agreement is terminated, we can terminate this Agreement with immediate effect.
10.1.5. If our agreement with the Finadvant Limited terminates, we will give you not less than two (2) month’s written notice to terminate this Agreement.
10.1.6. We may terminate this Agreement at any time and for any reason by giving you not less than two (2) month’s written notice.
10.2.When you may terminate this Agreement. You can terminate this Agreement at any time and for any reason by cancelling your agreement with the Finadvant Limited. We may contact you to confirm your request.
10.3.Effect of Termination. Upon the effective date of termination:
10.3.1. you will no longer be able to avail yourself of the Services;
10.3.2. we shall redeem any Electronic Money we hold for you and send the equivalent funds to a bank account in your name, unless agreed by both parties, less any monies which are due and owing to us, where relevant.
10.4.After termination, you may contact us using the contact details set out in clause 2.3 to redeem any Electronic Money you still hold with us.
11.1.We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:
11.1.1. to our employees, officers, representatives or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives or advisers to whom we disclose your confidential information comply with this clause; and
11.1.2. as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
12. HOW WE MAY USE YOUR PERSONAL INFORMATION AND DATA PROTECTION
13. Anti-bribery and Corruption
13.1.Each party shall:
13.1.1. Comply with all applicable laws, statutes, regulations, codes and guidance relating to anti-bribery and anti-corruption (“Anti-Bribery Laws”), including without limitation the Bribery Act 2010;
13.1.2. maintain throughout the term of this Agreement its own anti-bribery policies and procedures (including adequate procedures under the Bribery Act 2010) to ensure compliance with the Anti-Bribery Laws; and
13.1.3. enforce such policies and procedures where appropriate.
13.2.For the purpose of this clause, the meaning of adequate procedures shall be determined in accordance with section 7(2) and any guidance issued under section 9, Bribery Act 2010.
13.3.Each party warrants that neither it nor any of its officers, employees:
13.3.1. has been convicted of any offence involving bribery, corruption, fraud or dishonesty; nor
13.3.2. to the best of its knowledge, has been or is the subject of any investigation, inquiry or enforcement proceedings by any governmental, administrative or regulatory body regarding any offence or alleged offence under the Anti-Bribery Laws.
13.4.Breach of this clause shall be deemed to be a material breach of this Agreement.
14.1.Recording of telephone conversations. We may record telephone conversations with or without use of a warning tone and we may use these recordings as evidence for a particular purpose or in relation to disputes as well as for our ongoing quality control and training programme. We may also maintain a record of all emails sent by or to us. All those recordings and records will be maintained at our absolute discretion and are our property and can be used by us in the case of a dispute. We do not guarantee that we will maintain such recordings or records or be able to make them available to you. You consent to the use and admissibility of any such recording as evidence in any dispute or anticipated dispute between the parties which relates to the dealings between the parties.
14.2.Ensuring this Agreement is legally enforceable. For a contract to be legally enforceable, there needs to be an offer, acceptance and consideration. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer. In order to ensure that this Agreement is legally binding, upon you becoming a client, you promise to pay us the sum of one‑Pound sterling, upon demand from us, as consideration.
14.3.Even if we delay in enforcing under this Agreement, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
14.4.What if something unexpected happens? We shall have no liability to you under this Agreement if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lock‑outs or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of sub‑contractors, provided that you are notified of such an event and its expected duration.
14.5.If a court finds part of this Agreement illegal, the rest will continue in force. Each of the sub‑clauses and clauses of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining sub‑clauses and clauses will remain in full force and effect.
14.6.We are not partners and neither of us may act as the other’s agent. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
14.7.We can make amendments to this Agreement. We shall have the right to make such amendments to this Agreement, via Finadvant Limited, as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement. Such amendments may be made at any time upon as much notice as possible to you and shall take effect following such notice, if any. If you object to the proposed amendments, you have the right to terminate this Agreement without charge before the date proposed by us for the entry into force of the changes. You will be deemed to have accepted the proposed amendments unless you notify us and terminate this Agreement before the date proposed by us for the entry into force of the changes. If no objection is received from you, such amendments shall take effect from the date specified by us but may not affect any rights or obligations that have already arisen and will not be retrospective.
14.8.What happens if you are jointly a client of ours with another person? Where you comprise two or more people, each person will be jointly and severally liable to us in respect of all obligations contained in this Agreement.
14.9.Can you obtain a copy of this Agreement or additional information? You may request and we shall provide a copy of this Agreement and any information set out in Schedule 4 of the Regulations (if relevant) at any time prior to termination of this Agreement.
14.10. We may transfer this Agreement to someone else. We may transfer our rights and obligations under this Agreement to another organisation without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
14.11. You need our consent to transfer your rights to someone else (except that you can always transfer our guarantee). You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
14.12. Nobody else has any rights under this Agreement. This Agreement is between you and us. No other person shall have any rights to enforce any of its terms.
14.13. Which laws apply to this Agreement and where you may bring legal proceedings. This Agreement and any disputes or claims arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of England. You irrevocably agree that the courts of England have exclusive jurisdiction to settle any dispute or claim or other matter that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).
Account profile means your profile available in the Finadvant portal.
Additional services mean services, the provision of which requires the conclusion of additional agreements.
Bank money transfer means transfer of funds from your account with or without conversion and then transfer the equivalent amount to the counterparty’s bank account.
Business Day means any day except Saturday, Sunday and public holidays in England, when banks in London are closed for work.
Client Portal or Finadvant client portal means an electronic resource owned by Finadvant and designed to provide financial services described in these Terms. Full access to the portal is available only after activating your account. The Finadvant portal is located at www.finadvant.com
Client Portal Transaction – is the provision of financial services through the Finadvant portal in accordance with the list of financial services presented in Clause 23, with the provision of accounting documents to you in electronic form on the transaction.
Client Transactions – is a list of transactions you have made on the Finadvant client portal from your account.
Communication – providing information related to your account or the procedure for working with it, includes any agreements and policies by which you agree (for example, these Terms), as well as informing you about changes and / or additions that have occurred in them. In addition to disclosing information and notifications, including checks and reports, statements and history, authorization of payments, as well as receipts confirming the actual operations of financial transactions, any other information related to your account and the procedures that occur through it.
Counterparty – means any party that receives funds from your Finadvant account or sends funds to your Finadvant account.”
Counterparty Bank Account – means the bank account of the Counterparty.
Electronic money or e-money – means an electronically stored value. Transactions with electronic money are effected in the manner prescribed by the Payment Services Regulations 2017.
Electronic Money Account means an account opened with Finadvant where your e-money is stored.
Electronic money bank transfer – means transfer of electronic funds by redeeming electronic money from your electronic money with the subsequent transfer of an equivalent amount to the counterparty’s bank account.
Electronic money exchange – means transaction aimed at purchase of electronic money in another currency using exchange rates within Finadvant. For the information about the cost of the e-money exchange transaction please refer to the Fees section of these Terms.
Exchange rate – means relevant exchange rate set within Finadvant in accordance with our internal policy. Information about internal exchange rates is open to you and posted on Finadvant, in addition, when making any transaction requiring conversion, you will be informed about the exact exchange rate for each transaction before each transaction of how to perform such an operation. You must ensure that you are comfortable with the exchange rate we offer before entering into a transaction. By making a transaction with a currency conversion and, you confirm you perfect transaction with the exchange rate set by Finadvant.
FCA means the Financial Conduct Authority of the United Kingdom, which is located at 12 Endeavor Square, London, E20 1JN, United Kingdom; more information about the FCA can be found on the official website www.fca.org.uk.
Fees section – means Section 14 of these Terms, which describes procedure for collecting fees for the services provided.
Finadvant account – is a format for recording our relationship. By creating an account, you, among other things, confirm that you have read and accepted all our terms and conditions and requirements set forth in these Terms. By confirming your account, you will become the subject for the services and fees in accordance with the subscription plan selected by you during the application process. Finadvant undertakes to execute based on the orders duly received from you, a number of financial transactions listed in Section 23 on the terms and conditions described in these Terms.
Finadvant services means the provision of access to the Finadvant client portal through the website limited by the subscription plan associated with your Account profile, followed by the completion (independently or through our operators) of transactions according to the list of services presented in Section 23 hereof.
Financial Transaction means any inbound or outbound transaction related to your account including, but not limited to the Third Party Bank Transfer.
Force Majeure Event means an event that is beyond the reasonable control of the parties, including:
– actions or restrictions of the government (government) or state bodies; – war, revolution, terrorist act, strike;
– natural disasters, such as fire, flood, other natural phenomena of force majeure carrying with them significant destruction, including infrastructure systems; – disasters caused by explosion, fire, epidemics or other reasons;
– suspension or restriction of trading at any place of execution, failure, malfunction or malfunction of any telecommunication connection or equipment or systems. Information – means any confidential and / or other information, including name, email address, date of birth, tax address number, billing / shipping address, telephone number, and financial information.
Mobile means any electronic device used to log into the Finadvant client portal.
Money Account means an account opened with Finadvant where your funds are stored.
Restricted Countries – means countries listed in Appendix # 1 hereto. The list is not permanent and may be subject to periodic changes. The perspective clients can’t trade, be managed and/or owned by other entities within these jurisdictions or send/receive money to/from the below jurisdictions.
Subscription Plan means one of the three basic types of subscription plans available for the Finadvant client. Details of the subscription plan’s and the fees for the services available in Schedule of Services of these Terms.
Terms means these terms and conditions with any appendices, annexes, schedules and amendments hereto.
Third Party Bank Transfer means the receipt of funds into your account from a third party or outgoing transfer to a third party.
Top-up means that you or a third party are sending funds to your account.
User is a company that agreed to these Terms, went through the established registration process on the Finadvant client portal, provided all the necessary information to activate the account and gained access to the account on the Finadvant client portal.
User Bank Account – is a bank account owned by a user.
User bank transfer – This means a transfer from the user’s bank account.
Website – is general Finadvant website, the web address of which is www.finadvant.com
2. THESE TERMS AS A FRAMEWORK AGREEMENT
2.1 These Terms constitute a framework agreement (the “Agreement’) that sets out the general terms and conditions for financial transactions involving the transfer of funds using the Finadvant platform.
2.2 Before you can use Finadvant services, you need to:
– read Finadvant Terms and separately Terms and Conditions provided by Payrnet on our website https://finadvant.com/terms_and_conditions/, mark Finadvant Terms and Conditions with a tick, this will mean that you accept both Terms and confirm the reliability of all information that you provide to us in the framework of the requirements of this document;
– provide us with such documentation, photographs and information as we may reasonably request to comply with our regulatory obligations, as well as the requirements of laws against money laundering, terrorist financing and other prohibited activities.
In addition, by accepting these Terms, you also agree to the terms of our third party service providers.
2.4 Access to financial services provided on the portal, Finadvant is activated only after fulfilling the requirements specified in clause 2.2, as well as after our internal verification of the accuracy of the data you provided.
2.5 In the event that before the start of work or in the process of working with Finadvant, there was a change in the information provided to us earlier, you undertake to immediately notify us of this, with the simultaneous provision of updated data. You bear any losses arising from the provision of invalid, incorrect or inaccurate information. If the provided data is found to be unreliable, Finadvant has the right to immediately stop providing all services without any prior notification to the client . Finadvant is entitled to unilateral termination of the Agreement or any agreement with you in case the data provided by you is found to be unreliable. In such a case no prior notification to the client is required and Finadvant shall not be responsible for any damages or losses incurred by the client in connection with such termination of relevant Agreement and/or service.
2.6. Finadvant may request additional information, which will be objectively needed at any time, including in the event of changes in the regulatory documents governing the procedure for the provision of financial services.
3 REGULATORY INFORMATION
3.1 These Terms are between you (the “User”) and Finadvant. Finadvant is a company incorporated in in the United Kingdom under the number 12852382 , at the address: 1st Floor 2 Woodberry Grove, Finchley, London, England, N12 0DR, telephone: +44 20 3287 7639 E-mail address: email@example.com
Issuance of Electronic Money and payment services is provided by PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its head office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” and registered office at “Kemp House, 152 City Road, London, United Kingdom, EC1V 2NX” (hereinafter referred to in this Agreement as “Payrnet”). Payrnet is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (register reference 922901) for the issuing of electronic money. Finadvant is an EMD agent of Payrnet.
Our company is governed by the laws of the United Kingdom and Northern Ireland, as well as the laws of the European Union in the area of financial transactions, including we are subject to the Payment Services Regulations 2017.
4. GETTING STARTED
4.1 These Terms are effective upon activation of your account. Confirmation is sent to your email address through the client portal to your personal account. After activation, the account will be active until the end of the Agreement. See the Section 19. TERMINATION for the procedure and possible reasons for termination.
4.2 The order of Finadvant services to you is prescribed in Section 23. FINADVANT SERVICES.
To ensure the safety and security of your personal data, as well as to prevent unauthorized use of your account, you must take all reasonable measures, including measures strongly recommended by Finadvant, namely:
5.1 leave the Finadvant client portal every time you do not use it.
5.2 When you log into your account from your devices, you must carefully monitor the security and protection of such devices, including timely updating of antivirus software, development of a strong password or other protection mechanism.
5.3 Finadvant recommends that you regularly change your password, do not store passwords at the workplace, and do not keep them in easily accessible places.
5.4 In the event that messages of any format are received on your devices or e-mail box with an offer or demand to provide data for entering the Finadvant client portal, do not provide information, but immediately contact our customer support service through the Finadvant client portal or at a specially provided for such goals to the communication channel. At the same time, Finadvant strongly recommends organizing a separate mailbox for correspondence from Finadvant, using only it in mutual correspondence and limiting the circle of persons who have access to such an electronic mailbox.
5.5 If you have reason to believe or suspect that your credentials have become known to third parties, immediately notify the Finadvant customer support service. If your devices that were used to access your account have been stolen, or they were lost – immediately notify the Finadvant customer support service;
5.6 Please note that Finadvant transactions are processed automatically, so anyone who gains access to your credentials can use it to conclude transactions without your permission. At the same time, Finadvant is not liable in any way if such transactions cause you any damage and shall not be liable for any direct, consequential, or other damages suffered by you in connection with such transactions. In the event that your personal data has been stolen in any of the possible ways, after the immediate notification of Finadvant customer support, we also strongly recommend that you contact the police.
6. RESTRICTIONS ON THE USE OF THE FINADVANT
6.1 Finadvant prohibits the use of any of the services provided for any illegal purposes, including for fraud, money laundering, sponsoring terrorist and other prohibited organizations. In the event that reasonable suspicions arise that transactions have been carried out in order to achieve illegal goals, Finadvant blocks the transaction. In addition, Finadvant notifies you that it will report any suspicious activity and cooperate with the relevant law enforcement or regulatory authorities, providing them with all the necessary information, even if it relates to personal data.
6.2 Finadvant prohibits the use of any of the provided services in violation of any sanctions applicable in the territory of the European Union, England and Ireland, or use the services to evade restrictions or obligations imposed by law or established by the seller or manufacturer, use the Finadvant services for other purposes that violate the norms set forth in regulations or mutual contractual obligations.
6.3 Finadvant prohibits the use of any of the services provided if it leads to violation of copyright, patents, trademarks, trade secrets or any other intellectual property right, including the right to publicity or confidentiality.
6.4 Finadvant prohibits the use of any of the services provided if it contributes to the purposes of incitement to racial or religious hatred, intimidation, threats or other infringement of the rights of the individual.
6.5 Finadvant prohibits the use of any of the services provided for debt collection.
6.6 Finadvant prohibits the use of any of the services provided for currency trading for speculative purposes.
6.7 Finadvant prohibits the use of any of the services provided by a company that, having an account with Finadvant, controls or is associated with other account connections in Finadvant that participated in any of the prohibited activities specified in Appendix 2.
6.8 Finadvant prohibits deliberately making a transaction at the same time with Finadvant and another seller. Such actions will be considered by the Finadvant security service as fraudulent.
6.9 Finadvant prohibits violating these Terms or any other document agreed with us without obtaining prior written consent from the authorized officers of Finadvant.
6.10 Finadvant notifies about the inadmissibility of providing false, inaccurate or misleading information, in case of unreliability of the information provided, Finadvant has the right to unilaterally immediately terminate this Agreement with the simultaneous suspension of all transactions.
6.11 Finadvant informs about the inadmissibility of using any services provided by Finadvant in such a way that it may lead to complaints, disputes, cancellations, chargebacks, fees, fines or other negative obligations to Finadvant on the part of third parties or on your part.
6.12 Finadvant notifies about the inadmissibility of a negative account balance.
6.13 Finadvant prohibits taking any actions that pose a threat to the system’s performance, including deliberately creating a disproportionately large load on the Finadvant infrastructure; the spread of any viruses or other malicious computer programs that threaten the system’s performance. It is also forbidden to use any methods or special technical means for unauthorized monitoring or copying of the Finadvant portal, both as a whole and its individual elements.
6.14 Finadvant prohibits any actions that may result in reputational losses for Finadvant, or cause negative consequences in the form of losses to suppliers, employees and / or supplying organizations.
6.15 Finadvant prohibits the creation of additional accounts, as well as the use of other people’s personal data, including in the process of using any of the services provided.
6.16 Finadvant prohibits the harassment of its employees, agents or other users, including with the aim of persuading them to take illegal actions. If such actions are detected, they will be immediately reported to the police.
6.17 Finadvant notifies about inadmissibility to refuse to provide additional information about you or your business that we may request from you, including in connection with changes in the regulatory requirements governing our business.
6.18 Finadvant prohibits and notifies of inadmissibility of any other actions which may have substantially similar effect to those actions listed herein.
7. TRANSACTION RESTRICTIONS
Finadvant reserves the right to impose a restriction on any transaction based on its internal criteria, which are not subject to disclosure. Finadvant shall not be in any way liable to the User/client for such restriction and shall not cover any damages or losses of the User/client which may occur owing to such restriction.
8. SUSPENSION OF YOUR USE OF FINADVANT SERVICES
Finadvant reserves the right to suspend the operation of the client portal, change the rules for the provision of any service, introduce new services and / or terminate any of the services at any time, without prior notice and without any obligation.
Finadvant shall not be in any way liable to the User/client for such actions or inactions and shall not cover any damages or losses of the User/client which may occur owing to such actions or inactions of Finadvant.
9.1 In the event of any event that qualifies for compensation or reimbursement (including any technical errors of Finadvant staff or technical failures in the Finadvant system that caused funds to be mistakenly credited to your account or, conversely, a negative balance is allowed) Finadvant is entitled to collect any amount due to Finadvant. The amount can be withheld in whole or in part, once or repeatedly – until the full amount of the transfer to the Finadvant account is reached. Withholding is carried out on any transaction, including in the following ways at the discretion of Finadvant:
– the required amount is withheld in whole or in part from the amount that you have transferred to us in any other transaction;
– Finadvant will initiate a refund for a transaction that resulted in a negative balance in your account or an erroneous receipt of funds into your account;
– Finadvant has the right to contact a debt collection agency or lawyers, and Finadvant also has the right to take legal action if no other means of obtaining compensation is possible. At the same time, Finadvant reserves the right to charge all costs that would reasonably be incurred in connection with the above steps.
9.2 If the amount to be debited is in a currency other than the type of funds held in your Finadvant account, the funds will be converted automatically at the Finadvant’s internal rate, while the Finadvant is not required to notify you of the need for an exchange transaction.
10. GENERAL LIABILITY
10.1 Finadvant is not responsible for an erroneous transaction in connection with an error made by you when providing the details necessary to do such a transaction. Finadvant will take all necessary reasonable steps to return the funds involved in such a transaction for an additional fee, in addition, you may be additionally withheld the amount of fees charged by intermediary banks and / or the recipient’s bank for their assistance in the process of tracking and returning your funds.
10.2 Finadvant is not responsible if the recipient of your transaction turns out to be a fraudster or a participant in other illegal actions, in connection with which your funds will be blocked in his account or other events occur that do not allow you to cancel your transaction or complete it in the manner expected for you. Finadvant is only responsible for the correct execution of the transaction using the provided details within the specified time frame. Finadvant is not responsible for the actions of the recipient of funds or for his inaction. For its part, Finadvant is ready to provide you with full information about the time of the transaction in order to confirm the conscientiousness of fulfilling its obligations to you.
10.3 Finadvant once again draws your attention to the fact that in the event of a transaction using electronic money (electronic money exchange or currency exchange), any restrictions on your liability in relation to unauthorized or incorrectly performed payment transactions set forth in the Payment Services Regulations 2017 do not apply for losses of this type.
10.4 Finadvant is not responsible to you for:
– delay or failure to comply with our obligations for any of our services for any reason beyond our reasonable control, including any action or inaction on your part or on the part of a third party, whose action or inaction may affect the timeliness of the fulfilment of obligations.
– delay or failure to comply with our obligations for any force major circumstances affecting the ability to complete a transaction or the speed of its completion, as well as bank delays, mail delays, failure or delay of any facsimile or electronic transmission, any accident, emergency, natural disaster or any abnormal or unforeseen circumstances;
– losses incurred by the parties or one of the parties as a result of claims imposed on us by the Payment Service Rules 2017 or the Electronic Money Rules 2011, or by our obligations under the laws of any country in the European Union, England and Ireland.
10.5 In the event of your violation of these Terms, you are fully responsible for all financial or other liabilities that you have to Finadvant and / or third parties, or that have arisen Finadvant through your fault to third parties or regulators. In addition, you are responsible for any losses incurred by you, Finadvant or third parties in the event of unauthorized use of your account. You agree to reimburse Finadvant and / or a third party for all losses incurred in connection with violations of the Terms and / or unauthorized use of the account on your behalf, to the extent not prohibited by applicable law. At the same time, you are not liable for any losses incurred in connection with an unauthorized transaction that occurred after you promptly notified Finadvant about the loss, theft or other event that led to unauthorized access to your account by third parties, but are obliged to compensate all fees and other amounts arising from the use of your account prior to the notification to Finadvant about unauthorized access, regardless of the termination of the suspension or closure of your account.
10.6 Finadvant draws your attention to the fact that the responsibility for compliance with the legislation in the performance of your company, using the use of Finadvant services, is entirely on you. Only you are responsible for compliance with all laws, rules and regulations. Nothing in these Terms should be construed as limiting the operation of any law or as comments on the application of any law. In addition, you are fully responsible for the norms of tax legislation and the timely transfer of taxes and fees. Finadvant is not responsible for late or incomplete payment of taxes, incorrect submission of tax returns, or the correct calculation of the amount of tax payments. Nothing in the Terms should be construed as clarifications or comments on how to comply with your tax regime. If, as a result of your actions, damage was caused to third parties, the obligation to compensate for it lies entirely with you. Liability for death, personal injury, fraud or willful misrepresentation, for the commission of criminal offenses, cannot be regulated by these Terms and Conditions and is subject to the relevant areas of legal regulation.
10.7 In no event will Finadvant be liable for any damages including without limitation in the form of special, incidental, punitive, indirect, consequential or exemplary damages, lost profits, lost savings, loss of business, data, goodwill or otherwise, whether in contract, tort or otherwise, arising out of or in connection with the use of the services provided by Finadvant.
10.8 Finadvant is not responsible for any damage or loss arising in connection with:
– incorrect work on the Finadvant client portal, including improper management of functionality, leading to negative consequences or disruptions in work;
– delays or interruptions in the provision of services related to technical reasons, including the fault of Internet providers;
– damage caused by the penetration of viruses or other malicious software, which occurred when accessing the Finadvant portal or any related site or service.
11. CUSTOMER SUPPORT AND COMPLAINTS
11.1 Finadvant are responsible for monitoring and improving the quality of the services provided. For constant communication with you, Finadvant has a dedicated customer support service. If you have any questions or problems of a technical nature, you need to contact our support service for the corresponding request by e-mail firstname.lastname@example.org or by sending a request through the built-in service on the client portal. Your appeal will be considered as soon as possible, you can receive the answer to your email address from which the request was sent, or through the built-in service on the Finadvant client portal. To reduce the processing time for your request, we ask you to describe the problem that you have encountered as clearly and fully as possible and indicate the current contact information.
11.2. In the event that you need a copy of this Terms or some kinds of documents listed in Appendix 4 of the 2017 Payment Services Rules, you can also send a corresponding request to our customer support. The requested documents will be sent to you as soon as possible.
11.3 If you have any complaints about our services or our working or about services from the employees of our company, please send such a request to a special e-mail box at the following address: email@example.com . Finadvant will consider each complaint sent to this address in accordance with the approved grievance procedure. If you need to obtain a copy of this document, you must send a request to customer support.
The term for consideration of a complaint is from 15 to 35 working days (depending on the complexity of the situation), while the persons authorized to prepare a response to your complaint can contact you for additional information if necessary. In the event of our response / decision on your complaint does not satisfy your requirements or expectations, you have the right to contact with the Financial Ombudsman Service:
– submit a complaint in writing to the Financial Ombudsman at the Financial Ombudsman Service (FOS), https://www.financial-ombudsman.org.uk/faqs; mailing address: Financial Ombudsman Service, Exchange Tower, London E14 9SR.
– contact them by phone: at 0800 023 4567 (a free call if the call is made from a landline phone) or 0300 123 9123 (recommended for calls from a mobile number) or 44 20 7964 0500 (this number is recommended to be used by persons who are behind outside England and Ireland).
12. NOTICE AND COMMUNICATIONS
12.1 These Terms declare the equivalence of electronic mail and paper correspondence. Finadvant notifies you, and you agree to receive correspondence in electronic form, which will be sent to your e-mail and / or to your personal account on the client portal. In addition, Finadvant notifies you that any changes concerning the general principles of the complaint services or rules, regulatory changes and other important information are published on the Finadvant website, address dispatch of this information is not provided. Finadvant is not responsible if you did not timely familiarize yourself with the changes that are essential for our and your activities.
12.2 In order to avoid disputes and possible losses, you are obliged to regularly review the Finadvant client portal, as well as your email address specified by you to send you our correspondence. You are also required to review your notifications and transaction history and immediately report any questions, obvious errors or unauthorized transactions to our support team. Finadvant once again draws your attention to the fact that untimely contacting the support service may lead to the loss of funds, important rights or other losses, the risk of which lies entirely with you.
12.3 In case of changes in your contact information, you are obliged to immediately inform about it in order to timely make changes in order to prevent the loss of important information. You are solely responsible for keeping your personal data and contact information up to date.
13. AMENDMENTS TO THESE TERMS
13.1 Finadvant notifies you of the possibility of unilateral amendments to these Terms on our part. Finadvant will notify you about upcoming changes one months in advance. If you do not agree with the changes, you must inform us in writing before the changes come into force. If we do not receive written notice from you, we will deem that you accepted all amendments. If you send a message about your disagreement with the changes, this message is considered a notice termination of our Agreement and closing your account. The Agreement between us will be considered terminated from the moment the amendments take effect. The closure of your account and the return of the balances of funds will be made in accordance with the procedure set forth in Section 18. CLOSING AN ACCOUNT.
13.2 If the amendments are made in connection with the requirements of the law or in connection with the addition of a new service or the new functionals, as well as in the event of a decrease in the price of services or other changes, which does not reduce your rights and does not increase your obligations, they take effect immediately. Finadvant doesn’t have any obligation to notify you of such changes.
14.1 The fees for Finadvant services are specified in the Schedule of Services of these Terms. We will notify you in advance of any changes to the Schedule of Services section in accordance with the provisions of “AMENDMENTS TO THESE TERMS”. Finadvant strongly recommends that you keep track of the information coming to your email address in a timely manner.
14.2 The fees will be applied in accordance with the service plan selected (International Trade, Global Trade, Global Trade Premium) by choosing it during the application process in the onboarding registration form. Finadvant will start to collect fees in accordance with the selected plan after fulfilling the requirements specified in clause 2.2, as well as after our internal verification of the accuracy of the data you provided.
14.3 Finadvant fees are also posted on the Finadvant’s website, you can always familiarize yourself with them before making any transaction.
14.4 Finadvant collects account opening and monthly maintenance fees from your account balance. The write-off for these fees is made in pounds sterling. If your account does not have enough funds in pounds sterling, but there are funds in other currencies or electronic means of payment, Finadvant will carry out the exchange operation using its internal exchange rate. Finadvant reserves the right to suspend your access to services in case of delay in payment for our services, while the suspension of services does not relieve you of the obligation to pay off all debts to Finadvant.
15. NO WARRANTY
15.1. Finadvant does not guarantee that the services will run smoothly and without errors. Finadvant is not responsible for any interruptions in service, including system failures or interruptions that may affect the receipt, processing, execution, completion or settlement of transactions.
15.2. Finadvant is not responsible for goods or services paid using the Finadvant services.
16. INTELLECTUAL PROPERTY
16.1 Intellectual property means such rights as copyright, trademarks, domain names, design rights, database rights, patents and all other intellectual property rights of any kind. Finadvant’s intellectual property includes all of the above, as well as the logos associated with the Finadvant service, its graphic design and all elements used, as well as their groupings and locations, button icons, and scripts, service marks, trademarks and / or the Finadvant corporate identity. In addition, intellectual property rights apply to all documents developed by Finadvant specialists or by order of Finadvant and in his interests and published in the public domain on the client portal. You may not copy, imitate, or use them without our prior written consent. This requirement applies to both the entire intellectual property object and its constituent parts or elements.
16.2 Nothing in these Terms shall be used as permission to use our intellectual property in whole or in part to your advantage without our written consent.
16.3 Finadvant prohibits any actions that can be used to change any intellectual property in whole or in part, including digital rights, the means of protection are used by Finadvant for the security of the client portal. Any attempt to make changes will be considered an infringement of intellectual property rights. Responsibility for compensation of any kind damage arising as a result of such actions is entirely on you.
17.2 Finadvant notifies you that it reserves all data about you, as well as information about all your activities and all this information could be passed on to state bodies and financial institutions, if it will be necessary for their investigation in relation to you or your activities. Finadvant as well could use all this information for the purposes of internal audit, including to monitor compliance with these Terms.
17.3. Finadvant notifies you that when you provide us your mobile phone number in any possible way (filling out a questionnaire, filling out a profile in your personal account on the client portal, etc.), you automatically agree to receive any information messages from Finadvant to this number in any available format, including sms, mms, voice messages, etc. Finadvant will only use the provided phone number to notify you of issues related to our business relationship that have arisen as a result of signing these Terms. We will not use the number for personal purposes.
17.4. Finadvant notifies you that any telephone conversations with employees of our company may be recorded without prior notice to you. The recording of the conversation Finadvant performs, among other things, for the purpose of quality control of the services provided to you for conducting an internal audit audit, for staff training, as well as in order to ensure its interests in case of disputes. At the same time, Finadvant notifies you that our company does not permanently record all conductors of the company calls. This procedure is carried out selectively and is carried out on an ad hoc basis. Thus, Finadvant cannot provide you with any specific telephone conversation recording at your request. Finadvant also notifies you about the limited storage period of phone call records and cannot guarantee you that they will be saved or restored after the expiration of the storage period for such records.
17.5. You agree that Finadvant uses information about you and your transactions for statistical research and analytical reports. Information about you as a Finadvant client can also be used as an advertisement for our services. You agree that Finadvant may share your information to our partners – agents, distributors, suppliers. In addition, Finadvant informs you about the possible review of your accounts in order to improve the operation of our services and technical improvement of our information resources.
17.6. Finadvant informs you that we also accumulate information about how you and other customers use our services. We collect information about transactions related to your use of our services, including the type of service requested, the date and time the service was provided, the amount charged and other related transaction details.
17.7. By signing these Terms, you agree to all actions with your data and personal information described in this Section.
18. CLOSING AN ACCOUNT
18.1 Your account on the Finadvant client portal may be closed due to termination of the Agreement as provided for herein;
After the closure of your account, data about you and your transactions in Finadvant will be retained for six years. By accepting these Terms, you automatically give consent storage period for all your data on this period.
18.2. If there is a balance on your Finadvant account at the time of closing, you agree to withdraw your funds within a reasonable time during which your account will be used for the purpose of withdrawing the balance only. After the expiration of this period (information about the period to withdraw the balance after the account is closed), you cannot access your accounts, but you can withdraw any remaining funds within six years from the account closure. To do this, you will have to contact our support service. Refunds can be made in the following ways:
– bank transfer to any other account opened at your company name with authorised institution account.
At the same time, any fees or payments for carrying out this type of operation are deducted from the amount due to you to be returned.
18.3 You may not close your Finadvant Account to evade an investigation. If you attempt to close your Finadvant Account while Finadvant is conducting an investigation, it may freeze the account to protect all parties to the Finadvant Services, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your Finadvant Account even after it is closed.
19.1. These Terms may be terminated unilaterally with prior notice in following cases:
19.1.1 Finadvant may terminate these Terms unilaterally at any time by giving you two months’ notice of termination. Notification will be sent to you in writing through the client portal and / or to your email. The notification is considered sent from the day it is sent by the specified methods. In this case, Finadvant is not obliged to notify you of the reasons for the termination of the Terms. Termination of these Terms unilaterally from our side will not affect mutual rights or obligations, until the termination of the Terms and the Parties fulfilment of their obligations in full.
19.1.2 You may terminate these Terms unilaterally at any time by giving us two months’ notice. Notification must be sent in writing through the client portal and to our e-mail address firstname.lastname@example.org . Finadvant does not require you to indicate the reason for the unilateral termination of the Terms on your part, this is at your discretion. Termination of these Terms unilaterally on your part will not affect mutual rights or obligations, until the termination of the Terms and the Parties fulfilment of their obligations in full.
19.2 These Terms may be terminated unilaterally by either Party immediately in the following cases:
19.2.1 Either Party has committed a material violation of any provision of these Terms and it was not corrected within 15 working days after receiving written notification of such violation;
19.2.2 Any of the Parties is allowed to repeatedly violate any provision of these Terms in such a way that gives reason to consider the Party to be unable to comply with the provisions of these Terms;
19.2.3 One of the Parties is undergoing bankruptcy, liquidation, or there is another event indicating the impossibility of further continuing full cooperation;
19.2.4 The state of one of the Parties has adopted a law or an amendment to the existing law, the content of which prohibits any of the Parties from carrying out this type of activity in full or in part, or other authorized bodies have adopted or amended the existing regulatory and administrative documents, as a result of which further interaction of the Parties without violation of such regulatory and administrative documents becomes impossible.
19.3 These Terms may be terminated by Finadvant immediately unilaterally in the following cases:
19.3.1 The information you provide cannot be verified and confirmed in the prescribed manner.
19.3.2 Cooperation with you causes reputational or other damage to Finadvant, or adversely affects the operation of the software, other technical functionality that Finadvant uses in its activities.
19.3.3 You repeatedly violate the provisions of these Terms (more than once).
19.3.4 You do not take reasonable and timely measures to eliminate the violations committed within the time frame established for this.
19.3.5. You repeatedly allow a negative account balance (more than once).
19.3.6 We are no longer able to serve you due to the actions / inaction of a third party or for technical reasons.
19.4 Finadvant also has the right to partially terminate or suspend the provision of one or more services, if you violated the Terms or didn’t pay for the services. In the event of a partial termination or suspension of the provision of services to you, your email address will be sent the information with an indication of the time when you must eliminate this violation.
19.5 In the event of termination due to a violation of the law, information on the revealed facts of violation of the law will be transferred in the appropriate regulatory body and / or state department or to law enforcement agencies.
19.6 Termination of these Terms for any reason means the closure of any of your Finadvant accounts. The procedure for returning the balances on your account/accounts will be carried out in accordance with the provisions of Section18.
19.7 The termination of these Terms and the closure of accounts does not mean that the Parties are free from performance of their obligations that arose before the closure of the accounts. The relationship is considered completed only after the end of all mutual settlements. Any terms that, by their nature, remain in effect will remain in effect after termination of these Terms.
20.1 In the event that disagreements arise between the Parties, they resolve them through negotiations.
20.2 If the negotiations have not resolved the dispute that has arisen, the Parties have the right to go to court. The parties acknowledge that all disputes and disagreements are settled in England and are subject to the exclusive jurisdiction of the courts of England.
21.1 If any provision of the Terms is recognized as invalid, such provision is excluded from the Terms, while the Terms themselves do not lose their legal force.
21.2 These Terms are bilateral and are not intended to provide services to third parties, nor can they impose any obligations on third parties.
21.3. You can not transfer, assign or sell the rights, receive you in accordance with these Terms, to third parties.
21.4 In case of receipt of executive documents (judicial or tax) at the address of Finadvant, Finadvant takes off funds on such documents in an indisputable manner. Finadvant will send you messages about such take off to your e-mail and / in your personal account on the client’s box.
21.5 Finadvant independently determines the order of work of the client portal. Finadvant has the right, at its discretion, to change the portal appearance, to carry out periodic modernization, rebranding, and other procedures that it deems necessary.
21.6 Finadvant has the right to suspend the operation of the portal for a reasonable period in case of need for technical work. Messages about such works will be published on the site, personal mailing about this are not provided.
21.8 Finadvant notifies you that it does not provide consulting services, does not issue any recommendations, does not assess your activities or our services in relation to your activities. The statistical and / or analytical information that we publish on the client portal is not a recommendation or guide for building your business models. These articles are for informational purposes only. Finadvant is not responsible for the use of this kind of information in your activities.
21.9 Finadvant does not bear any responsibility and does not give advice on the choice of services to achieve your goals. You must independently assess the feasibility of performing this or that action when using Finadvant services.
21.10 Finadvant also does not bear any responsibility for fluctuations in currency exchange rates. You have to make a choice or currencies for storing your funds or making transactions you accept yourself.
21.11 Any supplement to these Terms is an integral part of it.
22. FINADVANT CLIENT PORTAL
22.1 Client portal Finadvant is an information resource located on the international Internet at the address: www.finadvant.com
The multi-user portal is designed so that our clients can independently use the services provided by Finadvant with maximum convenience, efficiency and security.
22.2 The Finadvant client portal consists of user (business account). After activating your account, all your personal data will be available in your personal account. Changes to your data are also made through your personal account, after providing documents confirming the changes that have occurred. Also, in your account, detailed information about your transactions will be available. In your personal account there is a functionality that allows you to make all transactions to which you have access to.
22.3 Finadvant has the right to restrict, suspend and even close your access to your personal account in the cases specified in Section 19 of the Terms.
22.4 Finadvant once again recalls the need to support up-to-date information. If Finadvant has reasonable suspicions that your information has lost its authenticity, we may request additional information and / or make for a second check. Finadvant is not liable for any losses incurred due to your late update of information.
23. FINADVANT SERVICES
23.1 Finadvant provides the following services for working with electronic money:
– exchange of electronic money;
– bank transfer of electronic money;
– receiving electronic money to your account.
– redemption of electronic money
23.1.1 Exchange of electronic money is the use of one currency to purchase another electronic currency. The internal Finadvant exchange rate is used for calculations. The currencies of electronic money that you purchase and store in your account are limited to the list of currencies presented on the Finadvant client portal. The list of available currencies is subject to change. Finadvant is under no obligation to notify you of such changes. You must check this list regularly yourself on Finadvant client portal. In addition, Finadvant informs you that the final exchange rate will depend on the amount of e-money you want to use for purchases and the amount of e-money you want to buy. The total cost of the transaction will be shown to you after completing all the required information. After you have read all the information, you need to confirm the transaction, for this you must click the exchange button. Finadvant strongly recommends that you carefully read the information about the general cost of the transaction before you confirm it. Finadvant is not responsible if you incur losses or do not get the expected result as a result of not reading the totals before the transaction. For the information about the cost of the e-money exchange transaction please refer to the Fees section and Schedule of Services of these Terms.
23.1.2 Electronic money bank transfer is the process of transferring electronic money from your account to a counterparty’s account, with or without a simultaneous conversion. A request for a bank transfer of electronic money is made through your personal account on the Finadvant portal. Please note that you are solely responsible for the correctness of the details that you must indicate. Finadvant recommends that you carefully check all the details before clicking on the confirmation of the transaction. Any mistake in the requisites means that your transfer will not take place or will be delayed. Finadvant is not responsible for any losses incurred by you due to incorrect input of the details necessary for the transfer. In addition, Finadvant strongly recommends that you familiarize yourself with the information about the cost of the scheduled transaction, which will also be indicated in your personal account after entering all the necessary data for the transaction you have chosen. In the process of making a transfer you will also need to confirm the entered data sent to your mobile phone by the Finadvant two-factor authentication system. Electronic money bank transfer can be with a simultaneous conversion or not, depending on whether the types of your currency and the currency that your contragent has to receive. If it is necessary to perform an exchange operation to complete a transaction, the exchange will be carried out at the internal rate of Finadvant, you need to familiarize yourself with the cost of such a transaction, taking into account the payment for the exchange and only after this you can confirm your transaction. Finadvant notifies you that it is not possible to revoke an electronic funds transfer transaction after it has been confirmed. After the completion of the transaction, all the initial data on it will be reflected in your personal account in the “transaction history” section.
If electronic money was not credited to the account you specified for any reason and was returned to Finadvant, it will be converted into the electronic money currency from which it was originally withdrawn. Finadvant notifies you that in this case, due to exchange rate differences, the amount of money that will be credited to your account may differ from the original amount both upwards and downwards. At the same time, Finadvant is not responsible and is not obliged to compensate for any types of losses that you may have in such cases. For the information about the cost of the electronic money transfer transaction please refer to the Fees section of these Terms.
23.1.3 Funding an e-money account is a procedure for increasing the amount of e-money stored in your account by bank transfer from your account or from a third party account. Finadvant notifies you that we have the right to set a limit on the amount of funds that can be transferred to your account at one time, Finadvant also has the right to set a limit on the total amount that can be held in your account. To lift this restriction, you must provide us with the additional information we could request.
23.2 For all successful transactions, Finadvant provides virtual receipts and they will be reflected in your personal account in the “Transaction History” section.
SCHEDULE OF SERVICE
International Trade Global
Trade Global Trade Premium
Account Opening Free From 20
GBP From 250 GBP
Monthly Maintenance Fee 9.99 GBP 29.99 GBP 59.99 GBP
Incoming GBP Faster Payments 0.39 GBP 0.39 GBP 0.39 GBP
Outgoing GBP Faster Payments 0.39 GBP 0.39 GBP 0.39 GBP
Incoming EUR SEPA 0.39 EUR 0.39 EUR 0.39 EUR
Outgoing EUR SEPA 0.39 EUR 0.39 EUR 0.39 EUR
Incoming International Payments in EUR and GBP(SWIFT) x 39.00 EUR/GBP 35.00 39.00 EUR/GBP
Outgoing International Payments in EUR and GBP(SWIFT) x 39.00 EUR/GBP 39.00 EUR/GBP
Outgoing International Payments in other 15 currencies(SWIFT) x x 39 GBP
Outgoing International Payments in USD(SWIFT) x x 39 GBP
FX conversion rate in other 15 currencies 0.6%
FX conversion rate USD, GBP, EUR 0.39% 0.39% 0.39%
Compliance fee 50 GBP per hour 50 GBP per hour 50 50 GBP per hour
Account closure fee FREE FREE FREE
Restricted List of Customer Jurisdictions
Perspective clients cannot operate, be owned by individuals or other entities within these jurisdictions or send/receive money to/from the below jurisdictions:
Crimea region, Cuba, Iran, North Korea, Syria, Sudan, Iraq, Libya, South Sudan
Perspective clients that operate, are owned by individuals or other entities within these jurisdictions or send/receive money to/from the below jurisdictions would require pre-approval:
Afghanistan, Albania, Barbados, Bahamas, Belarus, Botswana, Burkina Faso, Cambodia, Cayman Islands, Central African Republic, Democratic Republic of the Congo, Eritrea, Ethiopia, Ghana, Yemen, Lebanon, Liberia, Mali, Myanmar (formerly Burma), Mauritius, Nicaragua, Jamaica, Pakistan, Panama, Russian Federation, Republic of Guinea, Senegal, Somalia, Seychelles, Trinidad & Tobago, Uganda, Ukraine, Venezuela, West Bank (Palestinian Territory)
– Unregulated financial services (where licensing required)
– Pyramid or Ponzi scheme or multi-level marketing programs
– Un-licensed FX broker
– Binary options
– Debt restructuring, credit repair, debt settlement, providing credit, debt collections, (unless received a written pre-approval from PayrNet)
– Get rich quick scheme
– Activities aimed at circumventing security controls (software, hardware)
– Unregulated pharmaceuticals / food supplements (e.g.“nutraceuticals”) – Piracy or illegal streaming
– Counterfeit goods and violation of intellectual property, items that violates someone’s privacy
– Arms / dual use goods/ human organs
– Unlicensed charities
– Shell companies
– Companies formed of Bearer Shares
– Remittances funded in cash
– Offshore bank transactions/ Shell banks
– Adult services connected to human trafficking; intermediation of prostitution; production, visual broadcasting of pornography or striptease clubs (the approach does not include literature, toys, DVD’s, educational or scientific material or dating sites ) – Fourth party payment & multi-layered MSB arrangements
– Transactions for goods subject to export prohibition/restrictions
– Transactions with living animals (exceptions possible like for payments for horse riding, or dog classes)
– Political / religious organisations engaged in hate speech
– Sanctioned entities