Terms and Conditions

TERMS AND CONDITIONS

Last updated: 24 November 2021

1.   Acceptance of terms

Thank you for choosing iMoneyXchange. The following Terms and Conditions and the Privacy Policy (together, the “Terms”) apply to any person that registers for and/or opens a iMoney Xchange Account through imoneyxchange.com or any associated mobile applications, website, or APIs (together, the “iMoney Xchange Site”).

The Terms constitute a legally binding agreement between you and iMoney Xchange, which is a company incorporated under the laws of South Africa as iMoney Technology. For further information on the different iMoney Xchange group companies, please see the company information page on the iMoney Xchange website. For the purposes of these Terms, any reference to “we” “us” “our” “iMoney Xchange” and/or any similar term shall be construed as reference to iMoney Technology (Pty) Ltd.

By registering for and opening a iMoney Xchange Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them. You also accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live that may be applicable to your use of the iMoney Xchange Site and/or your iMoney Xchange Account, including but not limited to, those related to export or import activity, taxes or foreign currency transactions. Depending on your country of residence, you may not be able to use all the functions of the iMoney Xchange Site.

Please read these Terms carefully before using the iMoney Xchange Site because they affect your legal rights and obligations.

2.   Amendment of terms

iMoney Xchange may amend the Terms from time to time. You should visit the iMoney Xchange website regularly to check when the Terms were last updated (as displayed at the top of this document) and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the iMoney Xchange Site, or sent by email to the address associated with your iMoney Xchange Account.

The continued use of your iMoney Xchange Account, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using theiMoney Xchange Site and youriMoney Xchange Account.

3.   Eligibility

By opening a iMoney Xchange Account, you expressly warrant and represent that:

o    You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the iMoney Xchange Site;

o    You will not open, or attempt to open, a iMoney Xchange Account under any name except your own; or use your iMoney Xchange Account to carry out transactions on behalf of a third party;

o    You will follow the iMoney Exchange account opening process if you seek to open and use a iMoney Xchange Account for a non-individual legal entity (e.g. a company, trust or partnership);

o    You will not have more than one iMoney Xchange Account; use or access any iMoney Xchange Account other than your own; or assist any other person in obtaining unauthorized access to any iMoney Xchange Account;

o    You will provide security for transactions carried out through your iMoney Xchange Account by ensuring that you have either (i) deposited enough there is sufficient Local Currency into a iMoney Xchange bank account to acquire sufficient credit in your iMoney Xchange Wallet or (ii) hold sufficient cryptocurrency, (as the case may be) in your iMoney Xchange Account Wallet in advance of any transaction;

o    You will not allow or facilitate the deposit of Local Currency into your iMoney Xchange Account unless that deposit is made in accordance with the Deposit Requirements.

o    You will not allow or facilitate the withdrawal of Local Currency from your iMoney Xchange Wallet to a bank account held in the name of a third party;

o    You will not use your iMoney Xchange Account for or in relation to any illegal activity, any Prohibited Activity in violation of any laws, statutes, ordinances or regulations, or in breach of iMoney Xchange’s Export Controls and Sanctions requirements;

Any capitalised terms used in this Eligibility section shall have the meaning given to them in these Terms. Reference in these Terms to “Local Currency” means fiat or government issued currency, which in South Africa is Rand (ZAR).

By opening a iMoney Xchange Account you accept and agree thati Money Xchange may, without further notice and in its sole discretion, terminate, suspend or restrict the account of any customer who uses, or who we reasonably suspect may be using, the iMoney Xchange Site or any iMoney Xchange Account in a manner that is inconsistent with the letter or spirit of these Terms.

4.   Risks

Before using the iMoney Xchange Site, you should ensure that you understand the risks involved in buying, selling or trading cryptocurrencies. Cryptocurrency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets. This market volatility and other risks involved in buying, selling or trading cryptocurrencies are explained on the Risk Warning page of the iMoney Xchange website. There may be additional risks not identified in these Terms or in the Risk Warning.

You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling or trading cryptocurrency. You accept and agree that you are solely responsible for any decision to buy, sell, trade or otherwise hold or deal with cryptocurrency, and that iMoney Xchange does not, and will not, offer you any financial advice in connection with your use of, or transactions you conduct on, iMoney Xchange’s platform.

5.   Electronic communications

You accept and agree that:

o    any communications, agreements, notices and/or any other documents (together “Communications”) relating to your iMoney Xchange Account or your use of iMoney Xchange’s services will be provided to you electronically by posting them on the iMoney Xchange Site, emailing them to the email address you have provided to us, or through any other form of electronic communication. You consent to receiving all Communications electronically;

o    you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address;

o    you assume full responsibility for providing iMoney Xchange with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by signing-in to your iMoney Xchange Account and accessing the Settings page.

You may at any time withdraw your consent to receiving Communications electronically by contacting support@imoneyxchange.com . You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your iMoney Xchange Account at risk (see Account Security) and that iMoney Xchange reserves the right to close your iMoney Xchange Account in the event you fail to give, or withdraw, your consent to the receipt of Communications electronically.

6.   Identity verification

iMoney Xchange implements and maintains the highest standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing.

To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening a iMoney Xchange Account (“Identity Verification”). The nature and extent of the Identity Verification required will depend upon which of our supported countries you are resident in, and the deposit and withdrawal limits that you wish to apply to your iMoney Xchange Account. In certain circumstances, iMoney Xchange may also perform enhanced due diligence (“EDD”) procedures in relation to your iMoney Xchange Account. You accept and agree that you will remain subject to such procedures at all times.

 

iMoney Xchange reserves the right to, at any time:

o    restrict or suspend your iMoney Xchange Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or

o    terminate your iMoney Xchange Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.

You accept and agree that there may be delays in accessing your iMoney Xchange Account, or in carrying out transactions through your iMoney Xchange Account, while we undertake any Identity Verification and/or EDD procedures.

Retention of information. iMoney Xchange is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with iMoney Xchange. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to iMoney Xchange may be retained by us, including following the closure of your iMoney Xchange Account.

7.   The iMoneyXchange wallet

The iMoney Xchange Wallet allows you to send, receive and store cryptocurrency (together, “iMoney Xchange Wallet Transactions”).

Supported Cryptocurrencies. The iMoney Xchange Wallet is only available in relation to the cryptocurrencies that iMoney Xchange, in its sole discretion, decides to support (“Supported Cryptocurrency” or “Supported Cryptocurrencies”). Information about the Supported Cryptocurrencies can be found on the Supported Crypto Currency page on the iMoney Xchange website. The Supported Cryptocurrencies may change from time to time. Under no circumstances should you attempt to carry out a iMoney Xchange Wallet Transaction in relation to a cryptocurrency other than a Supported Cryptocurrency. In particular, but without limiting the generality of the foregoing, you accept and agree that you will have no access, entitlement or claim:

o    to any cryptocurrency sent to a receive address associated with your iMoney Xchange Wallet where that cryptocurrency is not a Supported Cryptocurrency; or

o    to any cryptocurrency sent to a receive address associated with your iMoney Xchange Wallet, where that receive address is associated with another cryptocurrency. For example, you will have no access, entitlement or claim to any Bitcoin Cash (BCH) sent to a Bitcoin (BTC) receive address.

Supplemental Protocols Excluded. Unless specifically announced on the iMoney Xchange Site or other official public statement of iMoney Xchange, Supported Cryptocurrencies exclude all other protocols and/or functionality which supplement or interact with the Supported Cryptocurrency. This exclusion includes (without limitation): metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a Supported Cryptocurrency. You acknowledge that you should not use your iMoney Xchange Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such protocol as iMoney Xchange is not configured to detect, secure, or process these transactions or functionality. Any attempted transactions in such items will result in loss of the relevant item. You acknowledge and agree that supplemental protocols are excluded from Supported Cryptocurrency and that iMoney Xchange shall bear no liability for any losses related to supplemental protocols.

Local Currency deposited to acquire a credit in your iMoney Xchange Wallet. Local Currency deposited into a iMoney Xchange bank account in order to acquire a credit in your iMoney Xchange Wallet (see Deposits) may be utilised solely for (1) the purchase of Supported Cryptocurrencies and/or (2) Withdrawal to an approved bank account (see Withdrawals). In certain countries we may also allow you to purchase specific goods and/or services from selected third parties using the credit reflected in your iMoney Xchange Wallet. You accept and agree that any such purchase will be subject to these Terms.

Proceeds from the sale of Supported Cryptocurrencies will increase the credit in your iMoney Xchange Wallet, less any applicable fees (as explained in Fees, and on the Fees page of the iMoney Xchange website). No interest can accrue on the credit reflected in your iMoney Xchange Wallet. Any Local Currency Deposited into a iMoney Xchange bank account for purposes of acquiring a credit in your iMoney Xchange Wallet, may accrue interest in favour of iMoney Xchange. You accept and agree that you have no claim or entitlement to any such interest earned by iMoney Xchange

Transaction instructions. iMoney Xchange will process iMoney Xchange Wallet Transactions according to your instructions. You accept and agree that iMoney Xchange does not:

Funds received in error. In the event you know, suspect, or should reasonably know or suspect, that any Local Currency has been deposited into a iMoney Xchange bank account or cryptocurrency has been credited to your iMoney Xchange Wallet (or to any bank account) in error, you must immediately notify iMoney Xchange of the error by submitting a ticket through the Help Center. You accept and agree that you have no claim or entitlement to any Local Currency or cryptocurrency received in error, and must immediately return such funds in accordance with the instructions received from iMoney Xchange.

o    guarantee the identity of any user, receiver, or other party to a iMoney Xchange Wallet Transaction. You are solely responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to iMoney Xchange;

o    have any control over, or any liability in relation to, the delivery, quality or any other aspect of any goods or services that you may buy from or sell to any third party. iMoney Xchange shall not be responsible for, and will take no action in relation to, ensuring that any buyer or seller you transact with using your iMoney Xchange Wallet completes the relevant transaction or has the requisite authority to do so.

Receiving cryptocurrency. You may receive Supported Cryptocurrency into your iMoney Xchange Wallet by providing the sender with a receive address generated in your iMoney Xchange Wallet. Your iMoney Xchange Wallet will only be credited with Supported Cryptocurrency sent to a receive address generated through your iMoney Xchange Wallet and associated with that Supported Cryptocurrency. For example, your iMoney Xchange Wallet will be credited with ETH when it is sent to an ETH receive address generated through your iMoney Xchange Wallet.

Funds received in error. In the event you know, suspect, or should reasonably know or suspect, that any Local Currency or cryptocurrency has been credited to your iMoney Xchange Wallet (or to any bank account) in error, you must immediately notify iMoney Xchange of the error by submitting a ticket through the Help Center You accept and agree that you have no claim or entitlement to any Local Currency or cryptocurrency received in error, and must immediately return such funds in accordance with the instructions received from iMoney Xchange.

8.   Deposits

Where your identity has been verified (in accordance with the Identity Verifcation requirements), you acquire credit for your iMoney Xchange Wallet by depositing Local Currency into a iMoney Xchange bank account (a “Deposit”). When you make a Deposit you are giving up ownership of the Local Currency which you have deposited in favour of iMoney Xchange. In return you will receive, subject to these Terms, a credit in your iMoney Xchange Wallet which represents a right against iMoney Xchange to (i) repayment of an amount equal to the credit in your iMoney Xchange Wallet when you instruct iMoney Xchange that you wish to terminate your account; or (ii) require iMoney Xchange to pay to the seller of Supported Cryptocurrency an amount equal to the purchase price of any Supported Cryptocurrency which you have purchased in reduction of the credit in your iMoney Xchange Wallet.

Details of the iMoney Xchange bank account into which you must make the Deposit will be provided to you by iMoney Xchange, and any such bank account will be held and operated by a iMoney Xchange operating entity in your country or region (for more information on these entities, see the Company Information page on thei Money Xchange website). You accept and agree that any information you provide to iMoney Xchange may be shared with such local entity, which will process Local Currency transactions in accordance with iMoney Xchange’s instructions.

The payment methods by which you may Deposit Local Currency will depend upon the country you are in, and are set out on the Fees page of the iMoney Xchange website (for the purposes of these Terms, the “Supported Deposit Methods”). Where you have made a Deposit using a Supported Deposit Method, and have adhered to the Deposit Requirements (explained below), your Deposit will purchase credit to be allocated to your iMoney Xchange Wallet.

Due to legal and operational constraints, you must strictly adhere to the following Deposit requirements (the “Deposit Requirements”):

o    you may only make a Deposit from a Supported Deposit Method held in your own name. You must not allow any third party to make a Deposit on your behalf in order to acquire credit for your iMoney Xchange Wallet;

o    you may only Deposit Local Currency using a Supported Deposit Method compatible with the deposit methods available in your country or region;

o    except in the case of a SEPA transfer, you may only make Deposits denominated in the Local Currency associated with your iMoney Xchange Wallet. For example, if you have a ZAR wallet, you must only make Deposits in South African Rand;

o    where you make a Deposit using a credit or debit card, you authorize iMoney Xchange to facilitate the debiting of the funds from your bank account in order to complete the Deposit;

o    you must not use cash or cheques to make a Deposit. iMoney Xchange reserves the right to refuse any Deposit made by cash or cheque. Should iMoney Xchange decide, in its sole discretion, to allow a Deposit by cash or cheque on an exceptional basis, the allocation of credit acquired with such Deposit will be delayed to allow fraud and compliance checks to take place, and a Cash Deposit Penalty (see the Fees page of the iMoney Xchange website) may be deducted from it. If you make more than one cash or cheque deposit into a iMoney Xchange bank account, iMoney Xchange may, in it’s sole discretion, suspend your iMoney Xchange Account indefinitely.

You agree to abide by the Deposit Requirements and agree and accept that failure to do so may cause delay in or failure of any credit acquired with the Deposit reflecting in your iMoney Xchange Wallet, and/or restriction, suspension or termination of your iMoney Xchange Account.

Allocation of deposits. When you request to make a Deposit to acquire credit through your iMoney Xchange Wallet, you will be provided with a Reference Number or Unique Deposit Amount. To permit timely and successful allocation of credit acquired with your Deposit to your iMoney Xchange Wallet, you must use the Reference Number or Unique Deposit Amount when you make a deposit using a Supported Deposit Method. iMoney Xchange will not be responsible for any delay in or non-allocation of credits acquired with Deposits to your iMoney Xchange Wallet where you fail to specify the required Reference Number or Unique Deposit Amount.

Credit acquired with Deposits may take time to reflect in your iMoney Xchange Wallet due to bank processing times, operational processes, and/or failure by you to adhere to the Deposit Requirements. Under no circumstances will iMoney Xchange have any liability to you in relation to any delay in or failure of credit reflecting in your iMoney Xchange Wallet.

iMoney Xchange will make all reasonable efforts to allocate credit in respect of Deposits that do not meet the Deposit Requirements. However, any Deposits less than the Minimum Unallocated Deposit Amount that cannot be allocated within a one month period will be retained by iMoney Xchange and you accept and agree that you shall not receive any credit in your iMoney Xchange Wallet in respect of such amount and shall have no further claim or entitlement to such funds. The Minimum Unallocated Deposit Amount shall until otherwise determined by iMoney Xchange be USD10.00 or the equivalent in your Local Currency.

9.   Withdrawals

Where you have added your bank account details to your iMoney Xchange Account, you may request a withdrawal of funds in reduction of the credit in your iMoney Xchange Wallet to your bank account (a “Withdrawal”).iMoney Xchange will process Withdrawals in accordance with your instructions. You are solely responsible for ensuring that any Withdrawal instructions provided to iMoney Xchange, including the relevant bank account number, are complete and correct and you accept and agree that under no circumstances will iMoney Xchange be under any obligation to reverse or amend any Withdrawal.

iMoney Xchange will make all reasonable efforts to process Withdrawals each business day, in accordance with the Deposit and Withdrawal Schedule on the iMoney Xchange website, but you accept and agree that iMoney Xchange provides no guarantee in relation to the Withdrawal processing period.

iMoney Xchange will make all reasonable efforts to process requests for Withdrawals each business day, in accordance with the Deposit and Withdrawl Schedule on the iMoney Xchange website, but you accept and agree that iMoney Xchange provides no guarantee in relation to the Withdrawal processing period.

Withdrawals to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any Withdrawal of funds in reduction of the credit in your iMoney Xchange Wallet to the bank account of a third party and accept that any such request for Withdrawal may be refused and/or result in the restriction, suspension or termination of your iMoney Xchange Account.

10.                     Instant buy or sell

iMoney Xchange Wallet holders may use the Instant Buy or Sell service to buy or sell a chosen amount of Supported Cryptocurrency at the quoted exchange rate.

In using the Instant Buy or Sell service, you accept and agree that:

o    When you make an Instant Buy or Sell order, iMoney Xchange will match your order with open orders on the iMoney Xchange Exchange or other cryptocurrency exchanges available to us. iMoney Xchange will facilitate the trade, in accordance with your instructions;

o    iMoney Xchange is not acting as your broker, intermediary, agent, adviser or in any fiduciary capacity in relation to an Instant Buy or Sell transaction, and no information or communication provided to you by iMoney Xchange in relation to an Instant Buy or Sell transaction will constitute advice;

o    when you place an order to buy or sell Supported Cryptocurrency, we will provide you with a quoted exchange rate. iMoney Xchange is unable to, and will not, specify the percentage of the quoted exchange rate that reflects iMoney Xchange’s facilitation of the relevant trade, as it will vary with market conditions. The quoted exchange rate may differ from rates seen elsewhere on the iMoney Xchange site, or on external sources, and you acknowledge that the quoted exchange rate is the rate that will apply to your order;

o    By proceeding with your Instant Buy or Sell transaction, you confirm that you accept the quoted exchange rate, including its components;

o    a volume limit per transaction will apply to any Instant Buy or Sell order (see the Fees page of the iMoney Xchange website); and

o    iMoney Xchange does not guarantee the availability of, or that there will be no delays or interruptions in or to, the Instant Buy or Sell service.

Before confirming any Instant Buy or Sell transaction, you must ensure that the amount of Supported Cryptocurrency to be bought or sold is correct and that you agree to the quoted exchange rate. iMoney Xchange cannot reverse an executed order.

iMoney Xchange reserves the right to delay or refuse any Instant Buy or Sell transaction if, in our sole discretion, we perceive there to be a risk of fraud or illegal activity, or where we have reasonable grounds on which to suspect an error may have been made. iMoney Xchange shall have no liability to you in connection with any delay in or non-completion of an Instant Buy or Sell transaction.

11.                     The iMoneyXchange Platform

The iMoneyXchange platform is an order book exchange platform for cryptocurrencies that is intended for use by customers with experience in and/or knowledge of similar platforms. Any person using iMoney Xchange  does so entirely at their own risk.

The iMoney Xchange platform is not offered to customers in all jurisdictions. This section of the Terms applies to you if you access and/or use  iMoney Xchange. In accessing and/or using iMoney Xchange  for any purpose, you agree and accept that:

o    all trades executed on the iMoney Xchange platform are executed automatically, based on the parameters of your order instructions, and cannot be reversed. In the case of technical issues affecting iMoney Xchange’s internal systems, iMoney Xchange may, where possible and in its sole discretion, take steps to reverse or otherwise amend a trade;

o    all trading on the iMoney Xchange platform is subject to iMoney Xchange’s fee structure, as set out on the Fees page of the iMoney Xchange website. By using iMoney Xchange, you accept and agree to all applicable fees;

o    iMoney Xchange makes no guarantee that the iMoney Xchange platform will be available without interruption; that there will be no delays, failures, errors, omissions or loss of transmitted information; or that any order will be executed, accepted, recorded, or remain open.

iMoney Xchange may, at any time and in our sole discretion, refuse any trade, impose limits on the trade amount permitted, or impose any other conditions or restrictions upon your use of iMoney Xchange that we deem necessary. We may, for example, limit the number of open orders that you may establish or restrict trades from certain locations. iMoney Xchange reserves the right to take such action without prior notice.

12.                     Fees

The fees applicable to transactions undertaken on the iMoney Xchange Site can be viewed on the Fees page of the iMoney Xchange website. iMoney Xchange reserves the right to change our fees at any time and will update the Fees page accordingly. In certain circumstances, and at our sole discretion, iMoney Xchange may notify selected customers of a specific fee change, where we consider a change to be of particular relevance to such customers.

Send and Receive fees. You may be charged a fee to send Supported Cryptocurrency from your iMoney Xchange Wallet and/or to receive Supported Cryptocurrency into your iMoney Xchange Wallet. Fees will apply where Supported Cryptocurrency is sent to or received from a Supported Cryptocurrency address (e.g. a Bitcoin address); no fees will apply where Supported Cryptocurrency is sent to or received from a mobile telephone number or email address. Please see the Fees page of the iMoney Xchange website for further information on send and receive fees.

Deposit and Withdrawal fees. All requests for Withdrawals from your iMoney Xchange Wallet will incur a fee. Such fees differ by country and are set out on the Fees page of  the iMoney Xchange website. Some Deposits made to acquire credit in your iMoney Xchange Wallet using a Supported Deposit Method may incur a fee, as set out on the Fees page. Such fees will be displayed in your transaction history upon completion of the transaction.

Instant Buy and Sell fees. The quoted exchange rate in relation to any buy or sell order placed using the Instant Buy and Sell service will include an amount to reflect iMoney Xchange’s facilitation of the relevant trade, the percentage of which will vary with market conditions (see Instant buy or Sell ).

Trade fees. iMoney Xchange applies a Maker / Taker fee structure for customers using the iMoney Xchange platform, which is explained in the iMoney Xchange Help Center. Please consult the Fees page of the iMoney Xchange website for further information on applicable Maker and Taker fees. iMoney Xchange will, at the time of any transaction on the iMoney Xchange Exchange, notify you of any fees that will apply to the transaction. By proceeding with any transaction, you accept and agree to the applicable fees. Such fees will also be displayed in your transaction history upon completion of the transaction.

13.                     Account security

iMoney Xchange takes security very seriously and the measures we have in place to protect your iMoney Xchange Account are explained on the Security Page of the iMoney Xchange website. However, you are solely responsible for:

o    maintaining adequate security and control over your iMoney Xchange Account sign-in details, including but not limited to any passwords, personal identification numbers (PINs), API keys, or any other codes associated with your iMoney Xchange Account;

o    enabling any additional security features available to you, including the activation of two factor authentication on your iMoney Xchange account (see the iMoney Xchange Help Center);

o    keeping your contact details up to date so that you can receive any notices or alerts we may send to you in relation to security (see Electronic Communications);

o    maintaining security and control over the email mailbox, phone number and two-factor authentication applications or devices associated with your iMoney Xchange Account.

Failure to take the above measures, and any other security measures available to you, may result in unauthorised access to your iMoney Xchange Account and the loss or theft of any cryptocurrency held in your iMoney Xchange Wallet or any linked bank account(s) and/or saved credit or debit card(s).iMoney Xchange shall have no liability to you for or in connection with any unauthorised access to your iMoney Xchange Account, where such unauthorised access was due to no fault of iMoney Xchange, and/or any failure by you to act upon any notice or alert that we send to you.

The security of your iMoney Xchange Account may be compromised, or interruption caused to it, by phishing, spoofing or other attack, computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment. iMoney Xchange strongly recommends that you regularly use reputable virus screening and prevention software and remain alert to the fact that SMS, email services and search engines are vulnerable to spoofing and phishing attacks.

Care should be taken in reviewing messages purporting to originate from iMoney Xchange and, should you have any uncertainty regarding the authenticity of any communication, you should log in to your iMoney Xchange Account through the iMoney Xchange website (specifically, www.imoneyxchange.com), and not any other domain name or website purporting to be, or to be related to, iMoney Xchange) to review any transactions or required actions.

To the maximum extent permitted by applicable law, you accept and agree that you have full responsibility for all activity that occurs in or through your iMoney Xchange Account and accept all risks of any unauthorised or authorised access to your iMoney Xchange Account.

Private keys. iMoney Xchange securely stores all Supported Cryptocurrency private keys (“Private Keys”) associated with any iMoney Xchange Account. You accept and agree that iMoney Xchange shall retain full ownership and control of the Private Keys associated with your iMoney Xchange Account and that you shall have no control of, access to, or the ability to use, such Private Keys. For example, but without limiting the generality of the foregoing, iMoney Xchange will not:

o    accept or adhere to any instruction to sign any data with a Private Key;

o    give access to any funds associated with your private keys, other than those of the Supported Cryptocurrency associated with your cryptocurrency wallet;

o    allow the creation of any receive addresses associated with a Private Key other than receive addresses created through your iMoney Xchange Wallet. iMoney Xchange will not credit to youri Money Xchange Wallet any cryptocurrency associated with a Private Key other than where such funds have been received via a receive address generated through your iMoney Xchange Wallet.

14.                     Service availability

While we will do everything we can to provide continuous operations, iMoney Xchange does not provide any warranty in relation to the availability of the iMoney Xchange Site or your iMoney Xchange Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to the iMoney Xchange Site or your iMoney Xchange Account and make no representation that the iMoney Xchange Site, iMoney Xchange API, your iMoney Xchange Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.

15.                     Transactions on cryptocurrency networks

When you use your iMoney Xchange Account to send or receive cryptocurrency, the transaction must be confirmed and recorded in the public ledger associated with the relevant cryptocurrency network (e.g. the Bitcoin network or the Ethereum network). That cryptocurrency network is solely responsible for verifying and confirming any such transactions. iMoney Xchange cannot confirm, cancel or reverse transactions on a cryptocurrency network, other than confirming to you that the network has completed the transaction. You accept and agree that:

o    Once submitted to a cryptocurrency network, a transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the network. A transaction is not complete while it is in a pending state. Funds associated with transactions that are in a pending state will be designated accordingly, and will not be included in your iMoney Xchange Wallet balance or be available to you to conduct transactions;

o    When you send cryptocurrency from your iMoney Xchange Account, you are authorising us to submit your transaction request to the relevant cryptocurrency network. Once a transaction request has been submitted to the relevant cryptocurrency network, the network will automatically complete or reject the request and neither you or iMoney Xchange will be able to cancel or otherwise modify your transaction.

o    Cryptocurrency networks are operated by decentralised networks of independent third parties. They are not owned, controlled or operated by iMoney Xchange so we cannot ensure that any transaction details you submit will be confirmed by the relevant cryptocurrency network. You agree that any transaction details you submit may not be completed, or may be substantially delayed, by the cryptocurrency network used to process the transaction.

Network protocols and operating rules. The underlying software protocols that govern the operation of the Supported Cryptocurrencies are open source. Accordingly, anyone can use, copy, modify, and distribute them and iMoney Xchange has no ownership of or control over these protocols. By using the iMoney Xchange Site, you accept and agree that:

o    iMoney Xchange is not responsible for the operation of any cryptocurrency network’s underlying software protocols and makes no guarantee as to their availability, security, or functionality;

o    the underlying software protocols are subject to sudden changes in operating rules (known as “forks”), and that such forks may materially affect the value, function, and/or name of any cryptocurrency you store in your iMoney Xchange Account. Should a fork occur, iMoney Xchange may, with or without notice to you, temporarily suspend our operations and, in our sole discretion, decide whether or not to support either branch of the forked protocol entirely; and

o    in the event iMoney Xchange decides not to support a branch of a forked protocol, you will not be given access to the assets on that fork. Those assets will be securely held by iMoney Xchange and we will not buy or sell them.

16.                     Account inactivity

Credit in your iMoney Xchange Wallet may only be reduced by the purchase of Supported Cryptocurrencies and/or a request for Withdrawal to an approved bank account (see The iMoney Xchange Wallet). You must not use your iMoney Xchange Wallet to store credit. Where any credit in your iMoney Xchange Wallet is not used for a period exceeding three months, iMoney Xchange may charge and obtain from you an Inactivity Fee of USD2.00 per month (or the equivalent in your Local Currency), which shall be debited against the credit in your iMoney Xchange Wallet. Should we have reasonable grounds on which to suspect you are using your iMoney Xchange Wallet primarily for the purpose of storing credit, iMoney Xchange reserves the right to restrict, suspend or terminate your iMoney Xchange Account.

Unclaimed property. In the event there is a credit in your iMoney Xchange Wallet(s) and iMoney Xchange has no record of any use of your iMoney Xchange Account for several years, and we are unable to contact you, the law in your jurisdiction may require us to report and deliver such funds to the relevant authorities as unclaimed property. To the extent permitted by applicable law, iMoney Xchange reserves the right to deduct a dormancy fee or other administrative charges against such unclaimed credit.

17.                     Closure of your account

You may close your iMoney Xchange Account by submitting a closure request via the Help Centre. iMoney Xchange will action such requests once (i) the credit and cryptocurrency balances in your iMoney Xchange Wallet(s) is below the Minimum Closure Amount; and (ii) no transactions have taken place in your iMoney Xchange Account for a period of at least 30 days. Such requirements are designed to protect you from loss and iMoney Xchange will not action a closure request until they are satisfied.

You accept and acknowledge that, once your iMoney Xchange Account is closed:

o    you will have no further access to it;

o    iMoney Xchange will be under no obligation to notify you of, or provide to you, any cryptocurrency sent to any receive address associated with your iMoney Xchange Account; and

o    iMoney Xchange reserves the right (but has no obligation) to delete all of your information and account data stored on our servers, and also reserves the right to retain any information that is required for legal or operational reasons.

If at the date of closure of your account any credit or cryptocurrency remains in your iMoney Xchange Wallet(s) (i.e. credit amounting to less than the Minimum Closure Amount), you accept and agree that iMoney Xchange shall retain such credit and that you shall have no further claim to them. The Minimum Closure Amount shall be credit equal to USD10.00 or the equivalent in your Local Currency.

You accept and agree that iMoney Xchange shall not be liable to you or any third party in relation to the closure of your iMoney Xchange Account, the termination of access to your iMoney Xchange Account, or for the deletion of your information or iMoney Xchange Account data.

 

18.                     Restriction, suspension and termination

iMoney Xchange reserves the right to restrict, suspend or terminate your iMoney Xchange Account where:

o    we reasonably suspect your iMoney Xchange Account to be the subject of an operational or other error, in which case we may be required to suspend access to your account until such time as the error is rectified;

o    we reasonably suspect your iMoney Xchange Account has been or is being used in relation to any unlawful, fraudulent or Prohibited Activity, or in breach of these Terms;

o    we reasonably suspect you or your iMoney Xchange Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;

o    we reasonably suspect you of taking any action that iMoney Xchange considers to be a circumvention of iMoney Xchange’s controls, including but not limited to opening multiple iMoney Xchange Accounts;

o    we reasonably suspect your involvement in any attempt to gain unauthorised access to any iMoney Xchange Account;

o    your iMoney Xchange Account is or appears to be the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance associated with your iMoney Xchange Account;

o    we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority; or

o    we reasonably conclude that you, or any person or geography with whom you transact, are / is the subject of any governmental sanctions.

iMoney Xchange will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your iMoney Xchange Account, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise iMoney Xchange’s security and/or risk management procedures. You accept and agree that iMoney Xchange is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your iMoney Xchange Account, and shall have no liability to you in connection with the restriction, suspension or termination of your iMoney Xchange Account.

Account termination. Where iMoney Xchange elects to terminate your iMoney Xchange Account in accordance with the above, we shall (except where legally obligated not to) return your available cryptocurrency and/or credit balance to you pursuant to the procedure set out below:

o    Cryptocurrency. If you have an available balance of Supported Cryptocurrency in your iMoney Xchange Account above the Minimum Threshold, we will liquidate the cryptocurrency and pay an amount equal to value realised from the liquidation into your bank account, provided that we are satisfied that such bank account is valid and in your name. The Minimum Threshold is USD10.00, or its equivalent in any applicable Supported Cryptocurrency calculated on the day on which the liquidation is performed. We will not send your Supported Cryptocurrency to an alternative cryptocurrency wallet address. Any risk of a negative exchange rate fluctuation shall rest with you and you shall have no claim against iMoney Xchange for any losses you may suffer as a result of the liquidation of your available balance of Supported Cryptocurrency.

o    Local Currency. We shall return to you an amount no greater than the credit in your iMoney Xchange Account. Payment shall only be made to you following submission to us of valid bank account details in your name. We shall not transfer Local Currency to any bank account in the name of a third party.

Death of Account Holder. Should we receive legal documentation confirming your death or any other information leading us to believe that you have died, we reserve the right to restrict or suspend your iMoney Xchange Account for security purposes and, during this time, for no transactions to be completed until such time as: (i) we receive instructions from your designated executor / fiduciary; or (ii) we receive proof in a form satisfactory to us that you have not in fact died.

If we have reason to believe you may have died but we do not have proof of your death in a form satisfactory to us, you authorize us to make all inquiries as may be necessary, whether directly or through third parties, in order to ascertain whether or not you have died. Upon receipt by us of proof satisfactory to us that you have died, the executor / fiduciary that you have designated in a valid Will or similar testamentary document may instruct us in writing to: (i) sell the applicable cryptocurrency for Local Currency and withdraw that Local Currency to a bank account nominated in writing by the executor / fiduciary; or (ii) transfer the applicable cryptocurrency to another cryptocurrency wallet nominated in writing by the executor / fiduciary.

If you have not designated an executor / fiduciary, then we reserve the right to treat as your executor / fiduciary any person who is entitled to inherit your iMoney Xchange Account under applicable law. iMoney Xchange reserves the right to demand all documentation that we, in our sole and absolute discretion, may deem necessary or appropriate in order to satisfy ourselves as to the identity and authenticity of such person, including (but not limited to) an order designating an executor / fiduciary from a court having competent jurisdiction over your estate. In the event that we determine, in our sole and absolute discretion, that there is uncertainty regarding the validity of the executor / fiduciary designation, then we reserve the right to require an order resolving such an issue from a court of competent jurisdiction before taking any action relating to your iMoney Xchange Account.

19.                     Use of iMoney Xchange API

This section 19 applies to any use of iMoney Xchange’s Application Programming Interface and any associated documentation or materials (together, the “IMoney Xchange API”, see the iMoney Xchange API page of the iMoney Xchange website). Any use of thei Money Xchange API is subject to this section and, for the avoidance of doubt, the Terms in their entirety.

Any use of the iMoney Xchange API is entirely at your own risk. It is your responsibility to keep any API keys, passwords or other credentials relating to your use of the iMoney Xchange API secure, and you accept and agree that you take full responsibility for any and all requests made over the API, whether authorised by you or not.

iMoney Xchange sets and enforces limits on your use of the iMoney Xchange API (e.g. limiting the number of requests per second). You accept and agree that any circumvention of, or attempt to circumvent, these limits, or any use of the iMoney Xchange API that may adversely affect other users of the iMoney Xchange Site, may result in iMoney Xchange, at its sole discretion, revoking your API access.

Where market data is provided to you through the iMoney Xchange API, you are not permitted to redistribute or sell such data without the prior written consent of iMoney Xchange.

20.                     Financial Advice

Under no circumstances does any information contained on the iMoney Xchange Site, or provided to you through your iMoney Xchange Account or by any employee, agent or affiliate of iMoney Xchange, constitute financial, investment or other professional advice.

You are solely responsible for any decision to store, buy or sell cryptocurrency, and such decision should take into account your risk tolerance and financial circumstances. For more information on the risks involved, see Risks and the Risk Warning on the iMoney Xchange website. You should consult your legal or tax professional in relation to your specific situation.

21.                     Taxes

You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your iMoney Xchange Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.

22.                     Export controls and sanctions

Your use of the iMoney Xchange Site is subject to international export controls and economic sanctions requirements. By undertaking any activity on the iMoney Xchange Site or through your iMoney Xchange Account, including but not limited to sending, receiving, buying, selling, storing or trading any cryptocurrency, you agree that you will at all times comply with those requirements. In particular, and without any limitation to the generality of the foregoing, you may not open, use, or have access to any iMoney Xchange Account if:

o    you are in or under the control of, or resident of, any country subject to United States embargo, UN sanctions, the HM Treasury financial sanctions regime, or if you are on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime; or

o    you intend to supply any acquired or stored cryptocurrency, or transact with people or businesses operating in any country subject to United States embargo or HM Treasury's financial sanctions regime, or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime.

23.                     Prohibited activities

You must not use your iMoney Xchange Account to undertake any of the activities or categories of activity set out in this section (each a “Prohibited Activity”):

o    violation of any laws, statutes, ordinance or regulations;

o    undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;

o    abusive activity, including but not limited to:

o     

§  imposing an unreasonable or disproportionately large load on iMoney Xchange’s infrastructure, or otherwise taking any action that may negatively affect the performance of the iMoney Xchange Site or iMoney Xchange’s reputation;

§  attempting to gain unauthorised access to the iMoney Xchange Site or any iMoney Xchange Account;

§  transmitting or uploading any material to the iMoney Xchange Site that contains viruses, Trojan horses, worms, or any other harmful programmes; or

§  transferring your iMoney Xchange Account access or rights to your iMoney Xchange Account to a third party, unless as required by law or with iMoney Xchange’s prior consent.

o    paying in to or otherwise supporting pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes, multi-level marketing programmes or high-yield investment programmes;

o    fraudulent activity, including but not limited to taking any actions that defraud iMoney Xchange or a iMoney Xchange customer, or the provision of any false, inaccurate, or misleading information to iMoney Xchange;

o    transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance; are considered obscene; or may be stolen goods or the proceeds of crime;

o    transactions involving TOR markets, online gambling sites or mixers;

o    sale or purchase of narcotics or controlled substances;

o    intellectual property infringement.

By opening a iMoney Xchange Account, you confirm that you will not use your account to undertake any of the above-listed Prohibited Activities or any similar or related activity.

Activities subject to the prior written approval of iMoney Xchange. Unless you have obtained the prior written approval of iMoney Xchange, you accept and agree that you will not use your iMoney Xchange Account to conduct or operate any of the following business activities or categories of activity:

o    money services, including but not limited to money or cryptocurrency transmission, currency or cryptocurrency exchange or dealing, payment service providers, e-money or any other financial services business;

o    gambling or gaming services;

o    charitable or religious / spiritual organisations;

o    consumer lending services, including but not limited to secured and unsecured loans, cash advances, payday lending;

o    investment funds, asset management, or brokerage services.

We reserve the right to restrict, suspend or terminate your iMoney Xchange Account if we suspect, in our sole discretion, that you are using, or have used, your iMoney Xchange Account in association with any of the activities listed above, or any similar or related activity, without having obtained the prior written approval of iMoney Xchange.

24.                     Disclaimer of warranties

The iMoney Xchange Site, your iMoney Xchange Account and any related products or services are offered on a strictly “as-is” and “where-available” basis and iMoney Xchange expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the iMoney Xchange Site, your iMoney Xchange Account, and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.

Some jurisdictions do not allow the disclaimer of implied terms in consumer contracts, so some or all of the disclaimers in this section may not apply to you.

25.                     Limitation of liability

In no event shall iMoney Xchange, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the iMoney Xchange Site and/or your iMoney Xchange Account, including without limitation any damages caused by or resulting from any reliance upon any information received from iMoney Xchange, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to iMoney Xchange’s records, programmes or services.

In no event will any liability of iMoney Xchange, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the iMoney Xchange Site or your iMoney Xchange Account, exceed (in aggregate) the fees earned by iMoney Xchange in connection with your use of your iMoney Xchange Account in the six month period immediately preceding the event giving rise to the claim for liability.

The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction. Because some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages, some of the limitations in this section may not apply to you.

26.                     Indemnity

To the maximum extent permitted by law, you agree to indemnify iMoney Xchange, its operating entities or any other affiliates (including their respective directors, members, employees and/or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the iMoney Xchange Site and/or your iMoney Xchange Account, or from your violation of these Terms.

27.                     USDC

You may elect to purchase or sell USD Coin ("USDC") through iMoney Xchange. USDC is governed by Centre, a membership-based consortium founded by Circle Internet Financial Limited (“Circle”) that sets technical, policy and financial standards for USDC (“Centre”). By acquiring USDC, you acknowledge that you will become the owner of the balance held in your USDC wallet and that, accordingly, you agree to abide by any rules or technical standards set by Centre and/or the applicable USDC issuer, including (without limitation) the Circle USDC. For the avoidance of doubt ,iMoney Xchange is not the issuer of USDC, does not hold US Dollars on reserve for USDC holders, and has no obligation to repurchase or redeem your USDC for any fiat currency. Any redemption of USDC should be done against the issuer directly. iMoney Xchange reserves the right to change, suspend, or discontinue any service in relation to USDC at any time, without notice and without attracting any liability therefore.

 

 

 

28.                     Repeat-Buy

You may initiate recurring transactions to or from your iMoney Xchange Wallet(s) (“Repeat-Buy”). If you initiate a Repeat-Buy, you acknowledge and undertake that:

o    your Repeat-Buy transaction will be executed at the prevailing market price offered on the iMoney Xchange Exchange at the time that we execute the relevant Repeat-Buy order;

o    you authorize us to initiate recurring electronic payments against the credit in your iMoney Xchange Wallet in accordance with your selected Supported Cryptocurrency and any corresponding Supported Deposit Method, such as debiting of the funds from your bank account or other payment account and consequentially increasing the credit in your iMoney Xchange Wallet to fund the purchase of your selected Supported Cryptocurrency in accordance with your Repeat Buy. Your Repeat-Buy transaction will occur in identical, periodic installments, based on your selection (e.g. daily, weekly, monthly), until either you or iMoney Xchange cancels the Repeat Buy;

o    where you have set up Repeat-Buy to execute against the credit in your iMoney Xchange Wallet, the Repeat-Buy transaction will be executed against the positive credit balance available in your applicable iMoney Xchange Wallet (i.e. this does not include any credit which is provisioned for any open orders on the iMoney Xchange exchange) (“Available Credit”) . You must ensure that you have sufficient Available Credit in your iMoney Xchange Wallet to pay for your Repeat-Buy on the scheduled payment date;

o    if any Repeat-Buy fails 3 (three) consecutive times, then we shall have the right to cancel or pause your Repeat-Buy; and

o    we may charge you a Repeat-Buy fee which will be charged in addition to any other fees and costs listed on our Fees page.

 

 

29.                     Disputes

You and we agree to notify the other party in writing of any claim or dispute that arises in relation to the iMoney Xchange Site, your iMoney Xchange Account or these Terms, within 30 days of such claim or dispute arising. You and we further agree to attempt informal resolution of any Dispute prior to bringing a claim in any court or other body.

Governing law and jurisdiction. This agreement shall be governed by and construed in accordance with South African law. You and we agree to submit all disputes, claims or controversies (including non-contractual Disputes, claims or controversies) arising out of or in connection with these Terms, or the breach, termination, enforcement or interpretation thereof (together, Disputes), to the non-exclusive jurisdiction of the courts of South Africa.

Class or representative action waiver. To the maximum extent permissible by law, you and iMoney Xchange each agree that each may bring any Dispute against the other only in your or its individual capacity, and you and it waive any right to commence or participate in any class action or other representative action or proceeding against the other. Further, where permissible by law, unless both you and iMoney Xchange agree otherwise, no court may consolidate any other person’s claim(s) with your Dispute, and may not otherwise preside over any form of representative or class proceeding.

For the avoidance of doubt, if this Class or representative action waiver is found by any court of competent jurisdiction to be invalid, void or unenforceable, the remainder of this Disputes clause shall remain valid and enforceable.

30.                     Miscellaneous

Entire agreement. These Terms constitute the entire agreement and understanding between you and iMoney Xchange with respect to their subject matter and supersede any and all prior discussions, agreements and understandings of any kind between you and iMoney Xchange (including but not limited to any prior versions of these Terms).

Severability. If any provision of these Terms, as amended from time to time, is determined to be illegal, invalid or unenforceable, in whole or in part, under any law, such provision or part thereof shall to that extent be deemed not to form part of these Terms but the legality, validity and enforceability of the other provisions in these Terms shall not be affected and everything else in these Terms will continue in full force and effect.

In the event any provision or part thereof of these Terms is determined to be illegal, invalid or unenforceable, that provision or part thereof shall be replaced by the parties with a legal, valid and enforceable provision or part thereof that has, to the greatest extent possible, a similar effect as the illegal, invalid or unenforceable provision, given the content and purpose of these Terms.

Assignment. You may not assign or transfer any of your rights or obligations under these Terms without iMoney Xchange’s prior written approval. You give iMoney Xchange your approval to assign or transfer these Terms in whole or in part, including but not limited to: (i) a parent company, subsidiary, affiliate, or other “group company” (“Group company” shall, in this context, refer to any entity which is under common control with iMoney Xchange, and “control” in this context refers to the direct or indirect ability to exercise a majority of the voting rights in such an entity); (ii) an acquirer of iMoney Xchange’s equity, business or assets; or (iii) a successor by merger.

Change of control. In the event that iMoney Xchange is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

Force Majeure. iMoney Xchange shall not be liable for any delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control.

Survival. All provisions of these Terms that by their nature extend beyond the expiry or termination of these Terms, including but not limited to, sections relating to the suspension or termination of your iMoney Xchange Account, use of the iMoney Xchange Site, disputes with iMoney Xchange and general provisions, shall survive the termination of these Terms.

Headings. Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.

English language controls. Notwithstanding any other provision of these Terms, any translation is provided solely for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretation in the English language. Any translation provided may not accurately represent the information in the original English.

 


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