THE TERMS AND CONDITIONS OF BUSINESS STATED BELOW EXPLAIN YOUR (“the Sender”) RESPONSIBILITIES TO US (“Access Forex (Pty) Limited”), THE RESPONSIBILITIES AND OBLIGATIONS OF ACCESS FOREX (PTY) LIMITED (hereinafter referred to as “Access Forex”) TO YOU THE SENDER, HOW AND WHEN THE CONTRACT WITH THE SENDER CAN BE TERMINATED AND THE EXTENT OF LIABILITY TO THE SENDER. YOU MUST READ AND ENSURE THAT THE TERMS AND CONDITIONS ARE UNDERSTOOD BEFORE ACCEPTANCE. BY AGREEING TO USE ACCESS FOREX’s MONEY TRANSFER SERVICES, YOU ARE ACCEPTING THAT YOU HAVE READ AND UNDERSTOOD THE TERMS AND CONDITIONS AND THAT YOU ACCEPT THEM IN THEIR ENTIRETY.

  1. DEFINITIONS

“Access Forex (Pty) Limited” refers to the South African registered private company that will be offering money transfer services and hereinafter referred to as “ACCESS FOREX”

“Bank Card” refers to a Visa or MasterCard credit card, or a debit card.

“Business Day” means any day on which Access Forex is open for business for the execution of Transaction Requests and/or Payment Requests.

“Destination Country” means the country in which the Payee receives money.

“Instruction” means a Payment Request and/or a Transaction Request.

“Payee” means someone who receives money through the Service.

“Payout Amount” means the amount paid out, after any foreign exchange conversion, to the Payee’s account exclusive of the Service Fee.

“Recipient” means a Payee.

“Sender” means someone who uses the Service to send money.

“Service” means online money transfer.

“Service Fee” means Access Forex fee plus any additional charges or Local Taxes applicable to each Transaction.

“Service Provider” means a local bank, money exchange house, or other third-party service providers (e.g. mobile network operators) in the Destination Country with whom Access Forex works to provide the Service.

“Transaction” means the transfer of money.

“Transaction Amount” means the amount of money that the Sender wishes to send to the Payee as a Transaction, excluding any applicable Service Fee and prior to any foreign exchange conversion.

“Transaction Data” means all information furnished by the Sender in carrying out the transaction request including but not limited to the name of the payee, sender’s own name, county of residence, contact details.

“Transaction History” means the record of your Transactions on our website which you may access using your email and password registration details.

“Transaction Request” means a specific instruction from the Sender to use the Service.

 

  1. OUR OBLIGATIONS

Subject to these Terms and Conditions, Access Forex shall use reasonable care and skill in providing the remittance service.

  • Access Forex reserves the right to modify or discontinue the Service or any part of the Service without notice, at any time and from time to time. The Sender acknowledges that the Service may not be available, in whole or in part, in certain regions, countries, or jurisdictions.
  • Delivery times quoted on our service levels notifications or elsewhere on our website are merely indicative and representative of the “normal” / average service and are not a guarantee of an individual Service or Transaction time. Access Forex shall not be liable in the event that the particular Service deviates from the quoted delivery times.
  • Unless a later date is specified in the application, Access Forex shall seek to execute the transaction on the business day that the Bank receives the transaction request., The Sender acknowledges that any Transaction may be delayed or canceled for a number of reasons including but not limited to: our efforts to verify your identity; to validate the Sender’s Transaction instructions; to contact you, or due to variations in business hours and currency availability; or otherwise to comply with applicable laws.
  • Upon the Sender’s request, Access Forex shall use reasonable efforts to cancel or stop a Transaction. The acceptance of the cancellation instructions shall not be a guarantee that Access Forex will be able to stop the transaction. Access Forex and other service providers as defined in this agreement shall not be responsible if the transaction is completed after the receipt of the cancellation instructions. Cancellation or other return of funds may involve a currency conversion, and the Sender shall bear any related loss, charges, costs, and expenses of any kind resulting from such currency conversion.
  • The Sender bears responsibility for the accuracy of the instructions given. Access Forex and/or any of its Service Providers may act on incomplete or inconsistent instructions if it is reasonably believed that it can complete or clarify such information without referring to the Sender. Should the Sender suffer any loss in consequence thereof, Access Forex and/or the Service Provider shall not be liable to the Sender.
  • Access Forex may send and receive notifications in relation to Transactions by email, SMS, or another instant messaging platform it may choose at its discretion. Information will be provided after receipt of a Transaction Request enabling the Sender to identify the Transaction, along with details of the amount of the Transaction in the currency used in the Transaction Request.
  • Access Forex will endeavor to provide the Sender and Recipient/(s) with up-to-date information regarding the location and opening hours of our Service Providers by means of information on the website. However, the Sender agrees that Access Forex shall not be held responsible for any inaccuracies that may appear in that information or any consequential loss that may result from incorrect or incomplete information
  • Access Forex reserves the right to accept or reject (with no obligation to provide reasons), any instruction to execute any Transaction and it will not be liable in any way for declining any such instruction or for withdrawing, terminating, or restricting our services to the Sender in any way. These Terms and Conditions shall, however, apply to any instruction which Access Forex chooses to accept.
  • Access Forex does not assume any liability for the loss of data or the delay in transmissions caused by using an Internet service provider or a browser or other software over which it has no control or the services provided by the Sender’s Card Issuer;
  • Notwithstanding any prior agreement to initiate a money transfer, Access Forex is under no obligation towards the Sender to initiate or execute a money transfer (and shall have no obligation to disclose the reasons thereof) if:
    1. Access Forex is unable to obtain sufficient evidence of the Sender’s identity;
    2. Access Forex has reason to believe that the Transaction information is incorrect, unauthorized, or forged;
    3. the Sender provided wrong or incomplete information, or the Transaction information is not received in a timely manner in order to guarantee the timely execution of the requested money transfer;
    4. the Sender’s Card Issuer does not authorize the use of the Bank Card to pay for the Transaction and Access Forex’s fees;
    5. Access Forex reasonably believes that the Transaction is in breach of any law or may be prohibited or result in Access Forex being in breach of any law, rule of practice, conditions of its registration, or obligations under any agreement with third parties; or for any other valid reason.
  1. YOUR RESPONSIBILITY TOWARDS US
  • The Sender undertakes to pay the fees and charges due to Access Forex for every money transfer which is requested to be initiated through the remittance service.
  • The Sender undertakes to settle the basic amount of a money transfer plus any fees due with a Bank Card or from the Sender s bank account. The Sender consents to the basic amount of the money transfer plus Our fees for the respective Transaction being cleared by its Card Issuer, or alternatively for the amount to be transferred from the Sender s bank account, to Access Forex, prior to Access Forex executing the transfer or any other Transaction. Prior to the final authorization of the Transaction, the Sender will be notified of the precise amount which Access Forex will clear with the Sender s Card Issuer or which Access Forex will debit from the Sender s bank account.
  • The Sender acknowledges the following:
    1. The information provided in order to effect an online money transfer is true, accurate, current, and complete;
    2. All Transaction data (amount of money, Sender s name, Sender s country, name of Recipient) must only be shared with the Receiver only and no other person. The Sender shall ensure that no third party can gain unauthorized access to this information. It is recommended that the Sender transfers money only to beneficiaries that are known personally to the Sender;
    3. The Sender shall not use the Access Forex Online Service for illegal purposes nor violate any laws in the

Sender s jurisdiction;

  1. The Sender shall not use the Access Forex Online Service for Prohibited Purposes;
  2. Within the framework of the Access Forex Online Service the Sender will not request money transfers that violate these Terms and Conditions or any other restrictions of use or terms of use as set forth on the Access Forex Website; and
  3. The Sender is responsible for maintaining the security of the password where one is given. Access Forex will not be liable for any loss or damages from failure to comply with this security obligation. The Sender consents to and acknowledges that Access Forex may make efforts to verify the Sender s identity and ʼ may make such inquiries as it may deem appropriate in its entire discretion.
  • If the Sender finds out that the remittance has not been received by the Recipient within reasonable and acceptable time frames communicated by Access Forex, the Sender shall inform Access Forex immediately in order for Access Forex to track the funds and inform the Sender of the result of the investigation in due course.
  • The Sender consents to and acknowledges that Access Forex may forward any particulars about the Sender, as well as information concerning the Services rendered to the Sender, if necessary, to regulatory or government authorities or their bodies if:
    1. the law requires Access Forex to do so; or
    2. Access Forex reasonably believes that such disclosure may assist in the prevention of fraud, money laundering, or other crimes.
  1. APPLICABLE LAW
  • These Terms and Conditions and the entire relationship between us are governed by and shall be interpreted in accordance with the South African Law. Any dispute between us relating to the Terms of the Contract will be dealt with in the courts in South Africa.
  • Access Forex shall be entitled to recover from the Sender all its legal costs, on an attorney and client scale, incurred in the investigation, defending, attending to any regulatory inquiries or any legal proceedings arising from the Service provided by Access Forex to the Sender.
  1. LEGAL AND REGULATORY COMPLIANCE
  • Access Forex and other service providers are subject to the laws, orders, requests, and guidelines of various governmental and self-regulatory authorities and also to the respective policies and procedures adopted and governing the Service Providers relating to, without limitation anti-money laundering, counter-terrorism financing, security, diplomatic, trade, financial, economic and other embargoes and sanctions; court orders; investigations; taxes; transaction review and monitoring; and reporting requirements. In seeking to comply with such regulations and policies, Access Forex may suspend, reject or block the remittance; restrain, deduct impound, and/or turn over to authority the Sender s funds in respect of the transaction; report the transaction, its details, and those of the Sender to one or more authorities; and take or forbear from taking any other action. The Sender shall bear the risk of any delay or losses relating to any and all actions or forbearance from action and shall indemnify Access Forex.
  • In order to maintain compliance with anti-money laundering controls and laws, Access Forex may, at its sole discretion, request additional information pertaining to the source of funds, prior to the funds being sent. Failure to comply with the request may result in the Sender s Transaction Request being declined.
  1. FORCE MAJEURE
  • Access Forex may suspend or terminate the execution of the remittance as a result of any force majeure event, which, without derogating from its meaning as used in commercial terms, shall include, without limitation to any change in regulation or in the interpretation or enforcement of any regulation; act, order or request of any authority; restriction or impending restriction on the availability, convertibility, credit or transferability of any currency; malfunction of a computer system; failure or default of a vendor to the Institution; any failure in the transmission of or miscommunication with respect to the transaction request; or any event beyond the reasonable control of Access Forex and the service providers.
  • The sender shall bear the risk of any delay and losses relating to a force majeure event.
  1. DISCLOSURE

The Sender consents to Access Forex disclosing to its affiliates, Service Providers, insurers, and professional advisors, and as required by regulation, the information that the Sender furnished in the Transaction Request.

  1. LIMITATION OF LIABILITY
  • Access Forex shall not be liable to the Sender for any loss that the Sender may incur or otherwise suffer, however arising or described and whatever the legal basis of the liability in connection with Access Forex sʼ provision of the Service unless the loss was caused by fraud, gross negligence or willful misconduct on Access Forexs’ part.
  • Access Forex shall not be liable for any indirect or consequential loss or loss of profit whether or not they were foreseeable. Access Forex shall not be responsible for any loss the Sender may suffer or incur in connection with any act or omission of a Service Provider. Where Access Forex is liable, its liability shall not exceed the amount of the remittance made by the Sender plus any fees or charges paid to Access Forex.
  • The Sender indemnifies Access Forex and its service providers against any and all losses that Access Forex may incur or otherwise suffer in connection with the Service, except to the extent that the losses resulted from fraud, gross negligence, or willful misconduct on its part.
  1. CHANGE IN SERVICE AND PRICE
  • Access Forex reserves the right at any time, and from time to time to modify, discontinue, temporarily, or permanently any part of the Service with or without notice.
  • Prices, fees, and charges may change at any time. The notice shall be posted on the online service platform, or on the website of Access Forex. The Sender must regularly change for the updated information.
  • Access Forex shall not be liable to the Sender or any third party for any modification, price change, suspension, or discontinuance of the Service.
  1. CHANGE IN THE TERMS AND CONDITIONS

Access Forex reserves the right to update and change these Terms and conditions without notice. Any such change or update shall be uploaded to the website of Access Forex. The Sender is required to read these terms and conditions each time the Sender intends to use the Service to familiarise himself/herself with the Terms and Conditions. 10.2 None of the employees, agents, contractors, or Service Providers of Access Forex have any power or authority to waive or suspend any part of these Terms and Conditions set out herein. Any such waiver or suspension of the operation of these Terms and Conditions shall be of no force and effect.