INTRODUCTION
GENERAL INFORMATION
Information about us: We, Fast Cash Financial Services, facilitate
International Money Transfers and are registered with HM Customs & Excise as a Money
Service Business.
Our Capacity: We act as principal and not as agent on your behalf.
SCOPE AND APPLICATION
Scope of this Agreement:This Agreement sets out the basis on which
we will enter into International Money Transfers with you, and governs each transaction.
Commencement: This Agreement supersedes any previous agreement
between us on the same subject matter and takes effect when you signify your acceptance
of this Agreement.
NO ADVICE
Execution only: We deal on an execution only basis and do not advise
on the merits of particular Transactions.
Own judgment and suitability: In asking us to enter into any transaction,
you represent that you have been solely responsible for making your own independent
appraisal and investigations into the risks of the Transaction. You represent that
you have sufficient knowledge, professional advice and experience to make your own
evaluation of the merits and risks of any Transaction. We give you no warranty as
to the suitability of the products traded under this Agreement and assume no fiduciary
duty in our relations with you.
Incidental information: Where we do provide market commentary or
other information this is incidental to your dealing relationship with us. It is
provided solely to enable you to make your own decisions and does not amount to
advice. The accuracy or completeness of such we give no representation, warranty
or guarantee as to the information or as to the tax consequences of any transaction.
CHARGES AND REMITTANCES
Charges: You will pay our charges as agreed with you.
Transfer Charges to Sri Lanka:
£ 0 - £ 500 = £ 5.00
£ 501 - £ 5000 = £10.00
£ 5001 Above = £15.00
(Applicable to both bank transfers and Cash Payout)
Transfer Charges to All other destinations:
£ 10 for any amount
(Bank Account Transfer Only)
Payments: All payments to us under this Agreement shall be made
to the bank account designated by us for such purpose. We shall not be obliged to
process any money transfers until we have received cleared funds from you.
Bank Account Details:
BARCLAYS BANK PLC
HANOVER SQUARE BRANCH
SORT CODE 20 - 36 - 47
A/C 70713945
A/C NAME CEC LTD
Third party payments and receipts: We will not normally make payments
to or receive payments from third parties on your behalf. In the event that you
request us to make a payment to or receive a payment from a third party on your
behalf, we may do so at our own discretion. We will only do so if you have provided
us with sufficient documentary evidence of the purpose of the payment to or receipt
from a third party.
Default interest: If for whatever reason you fail to pay us any
amount when it is due, we will charge you interest on any such unpaid amount calculated
at the Bank Base rate (of each relevant currency) plus 6% per annum. Interest will
accrue on a daily basis and will be due and payable by you as a separate debt. In
the event that any payment made by or on behalf of you is dishonored, returned,
not met on first presentation or stopped for whatever reason, we shall be entitled
to an administrative charge of up to £200.00 in respect of each such event.
This administrative charge will become payable by you in addition to any other sums
due under these terms.
Currency indemnity: If we receive or recover any amount in respect
of an obligation of yours in a Currency other than that in which such amount was
payable, whether pursuant to a judgment of any court or otherwise, you shall indemnify
us and hold us harmless from and against any cost (including costs of conversion)
and loss suffered by us as a result of receiving such amount in a Currency other
than the Currency in which it was due.
PERSONAL DATA
Disclosure to others: We will treat all information we hold on
you as private and confidential even when you are no longer a customer. We will
not disclose any information we hold about you to others except:
- (i) to the extent we are required to do so by any applicable law;
- (ii) where there is a duty to the public to disclose;
- (iii) Where our interests require disclosure; or
- (iv) at your request or with your consent
Our use of information: You agree that we and other companies in
our group may hold and process by computer or otherwise any information we hold
about you and may use any of that information to administer and operate your account
and to provide any service to you, to monitor and analyse the conduct of your account,
to make any credit decision (as well as the interest rate, fees and other charges
to be applied to your account) and to enable us to carry out statistical and other
analysis. You agree that we may disclose that information to other companies in
our group for these purposes.
Disclosure of information: We may also disclose information we
hold about you to those who provide services to us or act as our agents, to any
person to whom we transfer or propose to transfer any of our rights or duties under
this Agreement and to licensed credit reference agencies or other organizations
that help us and others make credit decisions and reduce the incidence of fraud
or in the course of carrying out identity, fraud prevention or credit control checks.
In respect of a joint account, we may disclose to any of you information obtained
by us from any of you in relation to the account.
Marketing: Subject to information provided by you in the account
opening questionnaire we may analyse and use the information we hold about you to
enable us to give you information (by post, telephone, email or other medium, using
the contact details you have given us) about products and services offered by us,
which we believe may be of interest to you. If you do not wish to receive marketing
information, please let us know by contacting us in writing.
Access to information: You may have a right of access to some or
all of the information we hold about you, or to have inaccurate information corrected,
under the Data Protection Law. If you wish to exercise either of these rights, please
contact us in writing.
ORDER PLACEMENT
INSTRUCTIONS AND BASIS OF DEALING
Placing of instructions: You may give us instructions over the
phone or in writing (including fax), unless we tell you that instructions can only
be given in a particular way.
Authority: We shall be entitled to act for you upon instructions
given or purporting to be given by you or any person authorised on your behalf without
further enquiry as to the genuineness, authority or identity of the person giving
or purporting to give such instructions.
Cancellation of instructions: We can only cancel your instructions
if we have not acted upon those instructions.
Right not to accept orders: We may, but shall not be obliged to,
accept instructions to enter into Transactions. If we decline to enter into a proposed
Transaction, we shall not be obliged to give a reason.
Confirmations: Confirmations shall, in the absence of manifest
error, be conclusive and binding on you, unless we receive from period.
Performance and settlement: You will promptly deliver any money
deliverable by you under a Transaction in accordance with that Transaction.
Amendments: Once given, instructions may only be withdrawn or amended
with our consent.
Net exposure limits: We will require you to limit the net exposure
which you may have with us at any time, as advised to you from time to time. We
may in our sole discretion close out any one or more Transactions in order to ensure
that such net exposure limits are maintained.
COLLATERAL ARRANGEMENTS
Form of collateral: Collateral shall be provided by you in cash
or other form acceptable to us as determined by us in our absolute discretion.
REPRESENTATIONS, WARRANTIES AND COVENANTS
Representations and warranties: You represent and warrant to us
on the date this Agreement comes into effect and as of the date of each Transaction
that:-
- (a)you enter into this Agreement in pursuance of your requirement
to take delivery of the Currency purchased by you from us under each Transaction;
- (b)you have all necessary authority, powers, consents, licenses
and authorizations and have taken all necessary action to enable you lawfully to
enter into and perform this Agreement and such Transaction and to grant the security
interests and powers referred to in this Agreement;
- (c) the persons entering into this Agreement and each Transaction
on your behalf have been duly authorised to do so;
- (d)this Agreement, each Transaction and the obligations created
under them both are binding upon you and enforceable against you in accordance with
their terms (subject to applicable principles of equity) and do not and will not
violate the terms of any regulation, order, charge or agreement by which
you are bound;
- (e)any information which you provide or have provided to us in
respect of your financial position, domicile or other matters is accurate and not
misleading in any material respect;
- (f) except as otherwise agreed by us, you are the sole beneficial
owner of all monies you transfer under this Agreement, free and clear of any security
interest whatsoever.
Covenants: You covenant to us that:
- (a) you will at all times obtain and comply, and do all that is
necessary to maintain in full force and effect, all authority, powers, consents,
licenses and authorizations referred to in this clause;
- (b)upon demand, you will provide us with such information as we
may reasonably require to evidence the matters referred to in this clause.
DEFAULT AND TERMINATION
Default:At any time after we have determined, in our absolute discretion,
that you have not performed (or we reasonably believe that you will not be able
or willing in the future to perform) any of your obligations to us, we shall be
entitled without prior notice to you:
- (a)to sell such of your currency as is in our possession or in
the possession of any nominee or third party appointed under or pursuant to this
Agreement, in each case as we may in our absolute discretion select or and upon
such terms as we may in our absolute discretion think fit (without being responsible
for any loss or diminution in price) in order to realize funds sufficient to cover
any amount due by you hereunder, and/or
- (b) to close out, replace or reverse any transaction, buy, sell,
borrow or lend or enter into any other transaction or take, or refrain from taking,
such other action at such time or times and in such manner as, at our sole discretion,
we consider necessary or appropriate to cover, reduce or eliminate our loss or liability
under or in respect of any of your contracts, positions or commitments; and/or
- (c) to treat any or all Transactions then outstanding as having
been repudiated by you, in which event our obligations under such Transaction or
Transactions shall thereupon be cancelled and terminated.
Termination: Either party may terminate this Agreement (and the
relationship between us) by giving ten days written notice of termination on the
other. We may terminate this Agreement immediately if you fail to observe or perform
any provision of this Agreement or in the event of your insolvency. Upon terminating
this Agreement, all amounts payable by you to us will become immediately due and
payable including (but without limitation):
- (a)all outstanding fees, charges and commissions; and
- (b)any dealing expenses incurred by terminating this Agreement;
and
- (c) any losses and expenses realized in closing out any transactions
or settling or concluding outstanding obligations incurred by us on your behalf.
Existing rights: Termination shall not affect then outstanding
rights and obligations and Transactions which shall continue to be governed by this
Agreement and the particular clauses agreed between us in relation to such Transactions
until all obligations have been fully performed.
INDEMNITIES AND LIMITATION OF LIABILITY
EXCLUSIONS, LIMITATIONS AND INDEMNITY
General exclusion: Neither we nor our directors, officers, or employees
shall be liable for any direct or indirect losses, damages, costs or expenses incurred
or suffered by you under this Agreement (including any Transaction or where we have
declined to enter into a proposed Transaction) unless arising directly from our
or their respective gross negligence, wilful default or fraud. Nothing in this Agreement
will limit our liability for death or personal injury resulting from our negligence.
Changes in the market: Without limitation, we do not accept any
liability by reason of any delay or change in market conditions before any particular
Transaction is effected.
Force majeure:We shall not be liable to you for any partial or
non-performance of our obligations hereunder by reason of any cause beyond our reasonable
control, including without limitation any breakdown, malfunction or failure of transmission,
communication or computer facilities, industrial action, acts and regulations of
any governmental or supra national bodies, to perform its obligations.
Indemnity: You shall pay to us such sums as we may from time to
time require in or towards satisfaction of any debit balance on any of your accounts
with us and, on a full indemnity basis, any losses, liabilities, costs or expenses
(including legal fees), taxes, imposts and levies which we may incur or be subjected
to with respect to any of your accounts or any Transaction or as a result of any
misrepresentation by you or any violation by you of your obligations under this
Agreement (including any Transaction) or by the enforcement of our rights.
MISCELLANEOUS
Amendments:
We may amend this Agreement by not less than ten business days written notice to
you, except where it is impracticable in the circumstances. Such amendment will
become effective on the date specified in the notice. Any other amendment must be
agreed in writing between us unless otherwise agreed; an amendment will not affect
any outstanding order or Transaction or any legal rights or obligations which may
already have arisen.
Notices: Unless otherwise agreed, all notices, instructions and
other communications to be given by one of us to the other under this Agreement
shall be given to the address or fax number and to the individual or department
specified in the account opening form in respect of you and and/or by notice in
writing by either party.
- (a)Any notice, instruction or other communication shall be deemed
to take effect in the case of fax, on dispatch and, in the case of airmail or first
class pre-paid post, five Business Days after dispatch. Notices, instructions and
other communications made pursuant to this Agreement or any Transaction shall be
effective if given by electronic mail.
- (b)Each notice, instruction or other communication to you (except
confirmations of trade, statements of account, and margin calls) shall be conclusive
unless written notice of objection is received by us within five Business Days of
the date on which such document was deemed to have been received. You will notify
us in writing of any change of your address in accordance with this clause.
Assignment:
This Agreement shall be for the benefit of and binding upon us both and our respective
successors and assigns. You shall not assign, charge or otherwise transfer or purport
to assign, charge or otherwise transfer your rights or obligations under this Agreement
or any interest in this Agreement,without our prior written consent, and any purported
assignment, charge or transfer in violation of this clause shall be void.
Time of essence
: Time shall be of the essence in respect of all obligations of yours under this
Agreement (including any Transaction).
Joint and several liabilities:
If you are a business, or otherwise comprise more than one person, your liability
under this Agreement shall be joint and several. The rights and remedies provided
under this Agreement are cumulative and not exclusive of those provided by law.
Rights and remedies:
The rights and remedies provided under this Agreement are cumulative and not exclusive
of those provided by law. We shall be under no obligation to exercise any right
or remedy either at all or in a manner or at a time beneficial to you. No failure
by us to exercise or delay by us in exercising any of our rights under this Agreement
(including any Transaction)or otherwise shall operate as a waiver of those or any
other rights or remedies. No single or partial exercise of a right or remedy shall
prevent further exercise of that right or remedy or the exercise of another right
or remedy.
Set-off:
Without prejudice to any other rights to which we may be entitled we may at any
time and without notice to you set off any amount (whether actual or contingent,
present or future) at any time owing between you and us.
Partial invalidity:
If, at any time, any provision of this Agreement is or becomes illegal, invalid
or unenforceable in any respect under the law of any jurisdiction, neither the legality,
validity or enforceability of the remaining provisions of this Agreement nor the
legality, validity or enforceability of such provision under the law of any other
jurisdiction shall in any way be affected or impaired.
Our records
: Our records, unless shown to be wrong, will be evidence of your dealings with
us in connection with our services. You will not rely on us to comply with your
record keeping obligations, although records may be made available to you on request
at our absolute discretion.
Your records:
You agree to keep adequate records to demonstrate the nature of orders submitted
and the time at which such orders are submitted.
Third Party Rights: A person who is not a party to this Agreement
has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any
of this Agreement.
Co-operation for proceedings: If any action or proceeding is brought
by or against us in relation to this Agreement or arising out of any act or omission
by us required or permitted under this Agreement, you agree to co-operate with us
to the fullest extent possible in the defence or prosecution of such action or proceeding.
GOVERNING LAW AND JURISDICTION
governing law: This Agreement shall be governed by and construed
in accordance with English law.
Jurisdiction: Each of the parties irrevocably
- (a)for our benefit that the courts of England shall have
jurisdiction to settle any suit, action or other proceedings relating to this Agreement
("Proceedings") and irrevocably submits to the jurisdiction of such courts
(provided that this shall not prevent us from bringing an action in the courts of
any other jurisdiction); and
- (b)waives any objection which it may have at any time to the laying
of venue of any Proceedings brought in any such court and agrees not to claim that
such Proceedings have been brought in an inconvenient forum or that such court does
not have jurisdiction over it
- (c) Waives any objection which it may have at any time to the laying
of venue of any Proceedings brought in any such court and agrees not to claim that
such Proceedings have been brought in an inconvenient forum or that such court does
not have jurisdiction over it.