By completing the Currency Index registration form, clients agree to the following terms and conditions (Framework Contract regarding Currency Index services).
Terms and Conditions of Business
1. INTRODUCTION TO CURRENCY INDEX, INFORMATION ON HOW TO CONTACT US AND ON HOW WE WILL CONTACT YOU
1.1. "Currency Index" is a trading name of A Place In The Sun Currency Limited. Where these terms refer to “we”, “us” or “our”, this means “A Place In The Sun Currency Limited”, a limited company in England and Wales (company number: 06586857) with its head office and registered address at Unit 1 Hollybush House, 5a New Road, Croxley Green, Rickmansworth, Hertfordshire, England, WD3 3EJ. Our websites are at www.currencyindex.co.uk and aplaceinthesuncurrency.com.
1.2. How you can contact us:
|Write to us||Unit 1 Hollybush House, 5a New Road, Croxley Green, Rickmansworth, Hertfordshire, England, WD3 3EJ|
|Call us||0800 043 2623
1.3. We are authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (register reference 504353) for the provision of payment services. We are authorised by Her Majesty’s Revenue and Customs for the purposes of compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, with registration number XMML00000167797.
1.4. “you” and “your” in these terms means you, being the individual(s) that wishes to use our services and has therefore agreed to these terms and satisfied our onboarding requirements. Please note that you must be over 18 to use our services.
1.5. How we can contact you:
|Write to you||The address you provide us with when being onboarded as a client, as same is updated by you from time to time.|
|Call you or text you||The telephone number you provide us with when being onboarded as a client, or as updated by you from time to time.|
|Email you||The email address you provide us with when being onboarded as a client, or as updated by you from time to time.|
|In the event of security threats or fraud||We will contact you via telephone and/or email (depending on the circumstances) using the details set out in this table.|
1.6. It is essential that you notify us as soon as any of your contact details change. You can do this by calling or emailing us. We will not be liable for any losses you incur as a result of your contact details having changed where you have failed to inform us that they have changed.
1.7. All communications between you and us shall be in English only.
2. INFORMATION ON THESE TERMS
We have drafted these terms in a question and answer format so that they are easy to read and understand. However, if you have any queries at all, please contact us using the details set out in clause 1.2.
2.1. Why should you read these terms? You should read these terms carefully as they apply to the services we can provide you. They explain your responsibilities to us and our responsibilities to you, how and when these terms can be terminated and the extent of our liability to you. You should accept these terms only if you agree to be bound by them.
2.2. How do you accept these terms? You can accept to these terms by:
(a) ticking the relevant box online; or
(b) confirming that you accept them via email, telephone; or
(c) acting like you accept them by sending money to us or entering into foreign exchange contracts or payment contracts with us, having been:
- provided with a copy of these terms by us (probably by email);
- directed to the part of the website where a copy of these terms is able to be viewed; or
- provided with a summary of the main provisions of these terms via telephone, with the full set of these terms being sent shortly thereafter.
2.3. When do these terms come into force and when do they end? These terms come into force when we confirm to you that you are our client and shall remain in force indefinitely, unless and until terminated.
2.4. How can these terms be terminated? You can terminate these terms at any time by emailing us or calling us. We can terminate these terms at any time by providing you with 2 months’ notice via e-mail. Please note these terms being in force does not oblige us to accept any orders from you to enter into foreign exchange contracts or payment contracts.
2.5. What happens if these terms are terminated? If these terms are terminated:
(a) foreign exchange contracts and payments contracts which are still “live” at the date of termination of these terms shall remain in force and subject to these terms until such time as the relevant contracts are completed, closed-out or terminated;
(b) you will no longer be able to enter into foreign exchange contracts and payment contracts with us.
2.6. On agreeing to these terms and onboarding you as a client, what are our obligations to you? We will give you an account number (which is your unique reference for identification) and the contact details of your dedicated sales trader.
2.7. Is there anything else you should be aware of when reading these terms? Yes:
(a) we work with partners which introduce potential customers to us. If one of these partners introduced you to us, then we, most likely, will provide transaction information to this partner and may pay them commission;
(b) these terms are concluded in English – if you are reading a non- English version, please note that this is provided for reference only and the English version is the version which applies;
(c) when we refer to a business day, we mean a day other than a Saturday or Sunday or bank holiday in England.
3. WHEN WE SAFEGUARD YOUR MONEY
3.1. What is safeguarding? Safeguarding means that we shall place your money in specifically designated accounts which we hold with mainstream banks that only hold client money and not our own money. The reason we safeguard your money is so that, in the unlikely event that we get into financial difficulties, the money which we safeguard will be protected from the claims of our creditors and it should be returned to you in full, less the insolvency practitioner’s fees incurred in sending out money which has been safeguarded.
3.2. In what circumstances do we safeguard and in what circumstances do we not safeguard?
We safeguard money which we hold on your behalf, that is pending execution of a payment. This includes money that you have purchased from us under a foreign exchange contract which is to be sent on to a beneficiary, other than you, pursuant to a payment contract.
We do not safeguard:
(a) money once we have executed a payment on your behalf and the money is on its way to your desired beneficiary;
(b) money received by us from you, or from another person but for your benefit, which is going to be used to fulfil a foreign exchange contract; or
(c) money that you have purchased from us under a foreign exchange contract, which is to be sent to an account in your name.
4. FOREIGN EXCHANGE (GENERAL TERMS)
4.1. What are our foreign exchange services? Our foreign exchange services allow you to purchase money in different currencies from us. Once purchased, this money will either be returned to you or will be subject to a payment and sent to someone other than you.
4.2. How can you find out what our foreign exchange rates are? You can find out our live exchange rates by calling us or by emailing us. Our overall Pricing Policy can be obtained on request.
4.3. Are you able to request that we enter into a foreign exchange contract with you at the time we are able to provide you with your desired exchange rate? Yes, with our prior consent. We will notify you when we are able to provide your requested foreign exchange rate, at which stage you will have entered into a foreign exchange contract with us. It is therefore essential when you make such a request to us that you intend to pay in full when your desired exchange rate becomes available. Please note that this service is offered on a ‘no liability basis’, i.e. we will not be held liable if we fail to notify you that we were able to offer you the specific foreign exchange rate. You are able to cancel the request at any time before we notify you that we are able to provide you with the requested foreign exchange rate and that we have entered into the foreign exchange contract with you.
4.4. How do you place a foreign exchange order with us? You can do this verbally via phone or in writing via email. Once we accept the foreign exchange order, a foreign exchange contract will be formed between us.
4.5. Can you refuse a foreign exchange order? Yes. We are under no obligation to accept any foreign exchange order made by you despite having provided you with a foreign exchange rate which we indicated we would accept.
4.6. How do you receive the money you have purchased? The money you purchase will either be sent to an account in your name or subject to a payment and sent to the account of a third party at your instruction.
4.7. Will we send you a confirmation of foreign exchange contract(s) you have entered into and, if so, what information will this confirm? Yes. Once we have entered into a foreign exchange contract with you, we shall send you a “contract note” via email which will set out, where relevant:
(a) the amount and currency of money you are required to pay us to satisfy your obligations;
(b) the dates that you are required to pay us the money referred to in clause 4.7(a);
(c) details of the bank account you should send money to, to satisfy clause 4.7(a);
(d) the foreign exchange rate;
(e) a transaction number for the foreign exchange contract;
(f) the amount and currency of the money you have agreed to purchase;
(g) the date that the money you purchase will be available to send back to an account in your name or send to a third party;
(h) the date of the foreign exchange contract; and
(i) a breakdown of the fees payable by you relating to the foreign exchange contract, if any.
4.8. What if you don’t receive a contract note? If you do not receive the contract note within 2 hours of placing a foreign exchange order, you should notify us immediately. Please note that the foreign exchange contract is binding upon you, whether or not you receive the contract note.
4.9. What if the contract note is wrong? If you believe there is an error in the contract note, you must contact us as soon as possible, and in any event within one business day of the contract note being issued. If we receive no objection to the contract note within one business day of it being issued, we will deem the contract note to be an accurate reflection of the relevant contract.
4.10. If you enter into a foreign exchange contract, can you change the date upon which the money you have agreed to purchase is sent to an account in your name or to a third party? Yes, this is possible with our consent and subject to the terms which we will make you aware of, please speak to a member of our staff if this is a requirement.
4.11. Are there any other terms which you should be aware of? Yes. We are entitled to treat:
(a) requests to enter into contracts;
(b) other communications,
made via email, telephone or secure online form, which appear to be from you, as having come from you. Accordingly, you should take all reasonable steps to ensure that email addresses and telephone lines used to communicate with us are secure.
4.12. How do you pay to fulfil a foreign exchange contract? You pay us directly into the account we stipulate when you enter into the foreign exchange contract. This account will be stipulated in the contract note we email to you. You are required to ensure that you have sent us enough money in the agreed currency at the time money is due to us. You have to allow enough time for money to clear into our account.
4.13. When are you obliged to pay us? We will always inform you of the dates you are required to pay us before agreeing the foreign exchange contract. These dates will also be set out in the contract note we email to you.
4.14. What happens if we don’t receive enough money in cleared funds in the sale currency at the time you owe monies to us? If you have not sent us enough money in the sale currency at the appropriate time, we may terminate the foreign exchange contract. Please see clause 6 for information on the consequences of a foreign exchange contract being terminated.
5. FOREIGN EXCHANGE (FORWARD CONTRACTS)
5.1. What do you mean by a forward contract? A forward contract is a foreign exchange contract where the money you purchase will not be made available to you within 2 business days of you entering into the foreign exchange contract.
5.2. Example use case for a “forward contract”:
- · You want to purchase a house for €200,000 in three months’ time;
- · You are not yet able to raise enough money in sterling to purchase the house;
- · You know that foreign exchange rates are constantly changing so that the price of the house in sterling will change between now and the proposed completion date of the house;
- · You would prefer to know the cost of the house in sterling now rather than take the risk that the price of the house in sterling is more on its completion date.
In this case, you might want to enter into a forward contract.
5.3. Are there any limitations you need to be aware of when entering into a forward contract? Yes, the money you purchase can only be used to facilitate a means of payment for identifiable goods and/ or services or direct investment. We may require evidence from you that this is the case.
5.4. Are there any additional terms you need to be aware of when entering into a forward contract? Yes, instead of paying us all of the money you are due to pay us up front, you will pay us in stages. We will usually ask you for:
(a) an initial payment (generally known as margin) within two business days after entry into the forward contract; and
(b) a final balance payment for the remainder of the monies owing on a day prior to or on the completion date of the forward contract.
5.5. In addition, we may request money from you between the dates that the initial payment is due and the final balancing payment is made if we are concerned that, if the forward contract were to be terminated, we would incur losses in unwinding the forward contract which would exceed the amount of margin you have already provided to us. We refer, in these terms, to this additional request for money as a “margin call” and the money requested as “additional margin”. The balancing payment you have to make will take into account any additional margin you have paid.
5.6. How do we make a margin call? We may make a margin call via telephone or email. It is a term of each forward contract that, up until the time that the forward contract is complete:
(a) you make yourself available to take a call on the telephone number(s) you have provided us with during normal business hours in the UK;
(b) you check your emails and text messages regularly during normal business hours in the UK.
5.7. You are deemed to have received the margin call at the time we speak to you on the phone, at the time we send you an email or at the time we send you a text message (as applicable and whichever is the earliest). We will always try to call you to speak with you to ensure that you have received a margin call sent via email or text however accept no liability if you do not answer our call(s) or if we are unable to connect to your phone.
5.8. When do you have to pay the additional margin by? Additional margin must be paid to us by 4:00 pm on the business day following the day on which a margin call is made, unless we inform you that it is due at a different time.
5.9. What happens if you don’t pay you the additional margin on time? We can terminate the foreign exchange contract. Information on the consequences of termination of the foreign exchange contract is set out in clause 6.
5.10. When you pay margin and additional margin, is this money safeguarded by us on your behalf? No. When margin and additional margin are paid to us, it becomes our money and is not safeguarded by us on your behalf. This means that in the unlikely event that:
(a) we become insolvent between the forward contract being entered into and it being completed; and
(b) the forward contract is not completed after we go insolvent,
to get the margin you have paid us back, you will need to add your name and details to the list of creditors in our insolvency. In this circumstance you may not receive all of your margin back.
6. FOREIGN EXCHANGE (TERMINATION AND CONSEQUENCES OF TERMINATION OF FOREIGN EXCHANGE CONTRACTS)
6.1. Will we ever terminate a foreign exchange contract? Yes, we can terminate a foreign exchange contract in the following circumstances:
(a) if you haven’t sent us enough money in the correct currency at the required time to fulfil the foreign exchange contract;
(b) where we reasonably determine that there was an obvious mis-quote or mistake with the foreign exchange rate we provided to you;
(c) you die or in our reasonable suspicion become of unsound mind;
(d) you become bankrupt, enter into any arrangement with creditors or an individual voluntary arrangement;
(e) you fail in any respect to fully and promptly comply with any obligations set out in these terms;
(f) if it becomes or may become unlawful for us to maintain or give effect to all or any of the obligations under these terms or otherwise to carry on our business;
(g) if we or you are requested not to perform or to close out a foreign exchange contract (or any part thereof) by any governmental or regulatory authority whether or not that request is legally binding;
(h) we consider it necessary to do so:
- if we suspect illegal activities, fraud or money laundering;
- to protect ourselves from your potential default;
- to protect ourselves from market failure;
- to protect ourselves from adverse or volatile market conditions.
6.2. Can you terminate a foreign exchange contract? Yes, however only with our consent and on the terms which we stipulate whereby you cover any losses we incur, including the costs of unwinding the foreign exchange contract.
6.3. What happens on termination of a foreign exchange contract? If, as a result of us unwinding the terminated foreign exchange contract, as a result of you not satisfying a margin call or for any other reason:
(a) margin you have paid us (if any) covers us for losses we have incurred in unwinding the foreign exchange contract, we will use this margin to cover our losses and send any leftover money to you;
(b) margin you have provided us (if any) does not cover us for losses we have incurred, we will send you an invoice for monies outstanding and:
- deduct any monies we hold for you to pay monies you owe us; and/or
- use any margin we hold in relation to any other foreign exchange contracts you have entered into to make up some or all of the shortfall, in which case you will owe us more money under that different foreign exchange contract; and/or
- you will have arrange for the appropriate amount of money to be paid directly to us; or
(c) we end up with a profit as a result of foreign exchange currency movements, we shall keep this profit as we are wary of being deemed to be providing an ‘investment service’, which is outside the scope of the regulatory permissions we hold with the Financial Conduct Authority.
6.4. For the purposes set out in clause 6.3(b), we are entitled to convert money into the currency we require and such conversion shall be at a standard rate of exchange available to us. If you fail to pay us money on time, you may be charged interest. Please see clause 9.4 for more details.
7. PAYMENTS (GENERAL)
7.1. What is a payment? A payment is us sending money you have purchased from us via a foreign exchange contract to the bank account of a third party.
7.2. Is completing a foreign exchange contract a payment? Please note that if you purchase money from us under a foreign exchange contract and we send this money to an account in your name, this is not deemed by us to be a “payment”, rather it is us completing the foreign exchange contract by sending the money you have purchased to you.
7.3. When we refer to a “beneficiary” in these terms, who do we mean? A beneficiary means the person who will receive the payment. The beneficiary account is the account held by the beneficiary that you want the money to be sent to.
7.4. How do you make a request for a payment to be executed? Just call us or email us or use the secure online form and let us know:
(a) the amount and currency of the payment you wish to make;
(b) the name of the person you want to send the money to; and
(c) the account’s sort code and account number or for international payments the account’s BIC and IBAN or account number and any other information we request from you.
7.5. If you request that we execute a payment to a person that you have not paid before, then we shall call you or send you a link to our secure online form to confirm the instruction, in which case the telephone call or secure online form (whichever is relevant) will be deemed to be you requesting that we execute the payment on your behalf.
7.6. If the payment is an international payment, you may provide us with the details of your preferred intermediary or routing bank. If you do not provide us with those details:
(a) we shall use our own intermediary or routing bank;
(b) we will not be liable for any losses that you incur from us using our own intermediary or routing bank.
7.7. We call the request to execute a payment a “payment order” in these terms.
7.8. We may request that you send us details of a payment order via email for the purpose of us having a written note of the payment details, however this will not be deemed by us to be a payment order.
7.9. Do we confirm the details of each payment order placed? Yes, after a payment order is processed, we will send you a document confirming the details of the payment via email.
7.10. What if you receive a payment confirmation email for a payment order you did not place? If you receive a confirmation for a payment order you did not place with us, you must contact us as soon as possible via telephone or email.
7.11. Will we ever refuse a payment order? Yes. If we do so, we shall, unless it would be unlawful for us to do so, notify you of the refusal and the reasons for that refusal. We will also let you know the procedure for rectifying any factual errors that led to that refusal.
7.12. What if you think that a payment has been executed incorrectly or without your authorisation? If this is the case, you must contact us as soon as possible and in any event within 13 months of the date of the payment by telephone or by email using the contact details set out in clause 1.2.
7.13. Can you cancel a payment once you have agreed it with us? You may cancel a payment at any time prior to the end of the business day before the payment is due to be executed by calling us.
7.14. How long will it take for the money to reach the beneficiary’s bank? We are obliged by the Payment Services Regulations 2017 to tell you the maximum amount of time it is allowed to take for money subject to a payment to arrive with the beneficiary’s bank. In most cases, it will take less time than this. If you want details of the amount of time it is likely to take, please call us. Please note that if you have instructed us to execute a payment after completion of your foreign exchange contract, then your payment order will be deemed to be received at the time the foreign exchange contract has been completed.
|Payment type||If you provide your payment order at this time…||The it is allowed to take for money to arrive with the beneficiary’s bank|
|Payment in euro or sterling||Before 4 pm on a business day||By the end of the business day after we receive your payment order|
|Payment in euro or sterling||After 4 pm on a business day or not on a business day||By the end of the second business day after we receive your payment order|
|Payment not in euro or sterling where the beneficiary account is in the European Economic Area||Before 4 pm on a business day||By the end of the fourth business day after we receive your payment order|
|Payment not in euro or sterling where the beneficiary account is in the European Economic Area||After 4 pm on a business day or not on a business day||By the end of the fifth business day after we receive your payment order|
|Payment not in euro or sterling and beneficiary’s account is outside the European Economic Area||At any time||There is no time limit. The amount of time it will take varies. You can ask us for an estimate at the time you place your payment order|
7.15. How are payments funded? For a payment to be executed, you must have completed a foreign exchange contract so that we hold an appropriate amount of money in the purchased currency to execute the payment.
7.16. What if you don’t hold enough of money with us in the relevant currency at the time the payment is due to be executed? Your payment will not be executed.
8. WHAT HAPPENS IF SOMETHING GOES WRONG?
8.1. What should you do if:
(a) money sent by us via a payment has been sent to the wrong account; or
(b) money sent by us via a payment has been sent without your authorisation?
If you think that this is the case, you must contact us as soon as possible, and in any event within 13 months of the date of the payment, by email or telephone using the contact details set out in clause 1.2.
8.2. When might you be entitled to a refund? You are entitled to a refund where:
(a) money sent via a payment has been sent to the wrong account; or
(b) money sent via a payment has been sent without your authorisation,
and you have notified us within the timeframe set out in clause 8.1.
8.3. Are there any circumstances where you are not entitled to any refund in accordance with clause 8.2? Yes:
(a) we won’t refund you any money if you have acted fraudulently;
(b) we are not liable for a payment not being credited to the beneficiary’s bank account on time, if we can prove to you that the beneficiary’s bank received the amount of the payment on time – in this case you or the beneficiary may be able to recover any losses from the beneficiary’s bank.
8.4. If you are entitled to a refund in accordance with clause 8.2, how long will this take? We will refund you by the end of the business day following the day we become aware, unless we suspect fraud and notify the appropriate authorities.
8.5. What happens if you give us the wrong beneficiary account details? In this case, we will not issue you with a refund, but we will try to trace the payment for you. We may charge you a reasonable fee for tracing this payment.
8.6. What if it takes longer than it should for money to be deposited in the beneficiary account? Please let us know and we can make a request to the beneficiary’s account provider to treat the payment as if it was made on time.
8.7. What happens if these terms are terminated before you realise that you might be entitled to a refund? If this happens, both you and we shall still be entitled to rely on this clause.
9. HOW WE MAKE A PROFIT, FEES AND INTEREST
9.1. How do we make money on foreign exchange contracts? For foreign exchange contracts, the rate which we offer you is different to the rate we are able to obtain from the wholesale market. Accordingly, we make a profit from selling you currency.
9.2. Do we charge any fees? Yes, we charge fees for executing some payments on your behalf. These fees are set out in our Pricing Policy which can be obtained on request. In addition, by agreeing to these terms, you agree to indemnify us for all of our losses suffered (without limitation) including all reasonable legal/professional costs and our management time (at a reasonable hourly rate) arising out of or in connection with your breach of these terms or negligent performance or non-performance of your obligations under these terms and the enforcement of these terms. This indemnity shall apply whether or not we have been negligent or at fault.
9.3. Are there any third-party fees you should be made aware of? Yes, in some circumstances a number of financial institutions may be involved in an international transfer of money, and such financial institutions may charge fees and expenses. The charges will in most cases (but not always) be deducted prior to delivery. For example, in the event that you want to send €5,000 to an overseas bank account, €5,000 will leave our accounts but the beneficiary’s bank and other banks which handle the money on its way to the beneficiary ’s bank might deduct their own charges and perhaps only €4,950 will arrive in the beneficiary’s account. Please let us know if a specific amount must arrive in the beneficiary account and we shall try our best to calculate these fees. Euro payments to the European Economic Area are sent from our bank accounts in Germany to reduce or eliminate these fees in most cases.
9.4. What happens if you fail to pay us on time? Without limiting the other clauses in these terms, if you fail to pay us on time, we reserve the right to charge interest on the outstanding sum at 4% per annum above the base rate, from time to time in force, of the Bank of England. Such debt shall be compounded monthly and we shall be entitled to claim from you the reasonable costs in recovering any sums overdue. Amounts due under this clause may at our reasonable discretion be converted to pounds sterling or any other currency at a rate to be reasonably determined by us.
10.1. How do you make a complaint about the service we have provided to you? If you feel that we have not met your expectations in the delivery of our services or if you think we have made a mistake, please let us know. You may let us know by telephone using the contact details provided in clause 1.2 or email firstname.lastname@example.org. We have internal procedures for handling complaints fairly and promptly. A copy of our complaints procedure is available upon request.
10.2. What if you are still not happy once we have responded to your complaint? If you are still not happy once we have responded to your complaint, there are options open to you. If you are an eligible complainant and your complaint falls within the Financial Ombudsman Service’s jurisdiction, you may be able to take your complaint to the Financial Ombudsman Service. Eligibility criteria and information on the procedures involved are available on the following weblink (http://www.financial-ombudsman.org.uk). If you are not an eligible complainant or your complaint does not fall within the Financial Ombudsman Service’s jurisdiction or you do not wish to refer your complaint to the Financial Ombudsman Service, you may refer your complaint to the courts in accordance with clause 14.10, should you not be satisfied with our final response to your complaint.
11. WHERE CAN YOU GET INFORMATION ON HOW WE HANDLE PERSONAL DATA?
12. OUR DUTY OF CONFIDENTIALITY
12.1. What are your obligations of confidentiality? We shall keep your confidential information (such as your name and address and details of contracts you have entered into) confidential and shall not use such confidential information except for the purpose of exercising or performing our rights and obligations under these terms.
12.2. Please note that we may disclose confidential information to:
(a) our staff and advisers (for example legal and compliance firms) and any partners we work with (including the person who introduced us to you for the purposes of reporting), provided that we ensure they keep it confidential;
(b) the extent required by law or by any governmental or other regulatory authority or by a court or other authority of competent jurisdiction;
(c) the bank we use to provide us with banking facilities in the normal course of business.
13. INFORMATION WE REQUIRE AND CHECKS WE CARRY OUT WHEN ONBOARDING YOU AS A CLIENT AND THROUGHOUT THE TERM OF OUR RELATIONSHIP
13.1. Do we require any documentation or information from you prior to us being able to provide you with our services? Yes, before we can provide you with our services we will ask for documentation and/or information about you including where the money you send us comes from. We do this to comply with our legal and regulatory obligations.
13.2. We may require additional documentation and information from you during the lifetime of these terms. If you do not provide us with the information or documentation we require, we may withhold our services including not returning your purchased currency to you or not executing your payments until we receive the documentation or information that we require.
13.3. We reserve the right to carry out all and any necessary money laundering, terrorist financing, fraud or other illegal activity checks including due diligence in relation to the beneficiary before fulfilling a foreign exchange contract or executing a payment.
13.4. Do we carry out electronic verification checks? Yes, we or someone acting for us may carry out an electronic verification check in order to verify your identity. This will leave a soft footprint on your credit history. By agreeing to these terms, you consent to such searches being carried out on you and any other parties you specify. You agree to inform such parties of this clause.
14. OTHER IMPORTANT TERMS
14.1. Do you provide advice? No. We may provide you with information about foreign exchange markets, however, this is not advice. You must rely entirely on your own judgement or the judgement of separate advisers when using our services.
14.2. Can these terms and associated contracts be transferred to another person? Yes. We may transfer our rights under these terms and associated contracts to another organisation without your consent. We shall let you know in advance before doing so. You cannot transfer your rights under these terms unless we confirm that you can in writing.
14.4. Can you obtain a copy of these terms? Yes. A copy is always available on our website or by emailing us.
14.5. What if we or you delay in taking action under these terms? If we or you have breached these terms and the non-breaching party doesn’t enforce its rights, or delays in enforcing them, this will not prevent the non-breaching party from enforcing those or any other rights at a later date.
14.6. What if something unexpected happens? We shall have no liability to you if we are prevented from or delayed in performing our obligations under these terms by acts, events, omissions or accidents beyond our reasonable control provided that you are notified of such an event and its expected duration.
14.7. If a court finds part of these terms illegal, will the rest continue in force? Yes. Each of the clauses of these terms operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
14.8. Will we ever make changes to these terms? Yes. We can change these terms by giving you two months’ notice via email. We shall assume that you are happy with the changes unless you tell us that you want to close your account before the changes come into force.
14.9. Which laws govern these terms? These terms are governed by the laws of England.
14.10. Where can legal proceedings be brought in relation to these terms? Legal proceedings can be issued in the courts of England & Wales. In addition:
(a) if you live in Scotland, legal proceedings can be issued in the Scottish courts;
(b) if you live in Northern Ireland, legal proceedings can be issued in the Northern Irish courts.
14.11. What if you open an account with us, jointly with someone else? If you sign up to these terms jointly with one or more other persons, then:
(a) a reference to “you” in these terms is a reference to you and each such other person;
(b) each person which signed up to these terms with you:
- can issue orders binding all the persons which signed up to the terms jointly; and
- is fully liable for the actions taken by all the persons which signed up to the terms jointly and not just their own “share”.
Our previous terms and conditions, which apply to currency orders up to number 347500, can be found here.