Terms & Conditions

General Payment Service Agreement for Business Clients

  1. General provisions
    1. The present agreement is concluded between Coxi, UAB (the COXIPAY) and the Client.
    1. Object of the agreement: the present agreement determines the main terms and conditions between the Client and COXIPAY when the Client is registered in the system, an account in Client’s name is opened at COXIPAY and the Client uses other services provided by COXIPAY. Conditions of separate services provided by COXIPAY are set under the supplements to the agreement, other agreements and rules which are an integral part of the present agreement. These conditions are applicable to the Client after the Client has been introduced to the terms of the agreement and starts using respective services.
    1. The present agreement is a document of significant importance which shall be carefully examined by the Client before the Client is registered in the system, an account in Client’s name is opened at COXIPAY and the Client uses other services provided by COXIPAY. Please read the terms of the present agreement carefully before you decide to agree with them.
    1. The supplements to the agreement are agreements, under which the Client and COXIPAY agree on the usage of respective services specified in the supplements. Conditions set in the supplements are special provisions which prevail over other provisions of the agreement. When the Client starts using services, which have not been used before, the respective additional supplements to the agreement shall apply. In case there is a need in additional identity confirmation or additional documents of the Client are required for the provision of newly selected services, the services shall only be activated after the Client performs all the actions specified by COXIPAY.
    1. Definitions of key terms used in the Agreement:

Acceptable language – English and Lithuanian.

Account – the result of registration in the computer system, during which personal data of the registered Client is saved, a login name is assigned and the rights of the Client in the system are defined.

Agreement – an agreement between the Client and COXIPAY which includes the present general payment services agreement and any other conditions and documents (supplements, agreements, rules, declarations, etc.), including but not limited to the information on the websites, which is referenced in the present general payment services agreement.

Business day – a day, when COXIPAY provides its services, set by COXIPAY. COXIPAY can set different business days for different services.

Client – a legal person or an undertaking that does not enjoy the status of a legal person but is acting in such capacity and is registered in COXIPAY’s system and holds an account. The Client must always be acting for purposes relating to his trade, business, craft or profession.

Client’s representative – a natural (private) person duly representing the Client. Validity of representation is examined by COXIPAY before establishing business relationship.

Client identification – proving the identity of the Client under procedure specified in the system.

Commission fee – a fee charged by COXIPAY for a payment operation and/or related services. 

Consent – a consent of the payer to perform the payment operation. 

Electronic money – monetary value as represented by a claim on the issuer which is issued on receipt of monetary funds by the electronic money issuer from a natural or a legal person and has the following characteristics:

  •  stores electronically, including magnetically;
  •  is issued for the purpose of making payment transactions;
  •  is received by the persons other than electronic money issuers.

COXIPAY account or account – an account opened in the system in the name of the Client and used to make payments and other payment operations.

COXIPAY – Coxi, UAB. All payment services will be provided by Coxi, UAB (legal entity code 304604766, registered legal entity address at Perkūnkiemio str. 13-91, LT-12114 Vilnius, email address: [email protected], data about the company is collected and stored at the Register of Legal Entities of the Republic of Lithuania; Electronic Money Institution licence No. 21, issued on 8 December 2017; issuing and supervisory body is the Bank of Lithuania (www.lb.lt)).

Password (passwords) – any code of the Client created in the system or provided to the Client by COXIPAY for the access to the COXIPAY account or initiation and management of separate services provided by COXIPAY and/or initiation, authorisation, implementation, confirmation and reception of payment operations.

Party – COXIPAY or the Client.

Payer – a natural (private) or legal person who submits a payment order.

Payment instrument – any payment instrument which the system allows to link to the COXIPAY’s account and perform payment transfers using this payment instrument.

Payment order – an order (payment transfer) from the payer or the recipient to the provider of payment services to execute a payment operation. 

Payment operation – a money transfer, payment or withdrawal initiated by a payer or a recipient, regardless of the position of the payer and the payee on which the operation is based.

Payment services – (i) payment operations, including transfer of money held on the payment account opened in the institution of the provider of payment services of the user of payment services or in another payment institution; (ii) payment operations when money is given to the user of payment services under a credit line: payment operations using a payment card or a similar instrument and/or credit transfers, including periodic transfers; (iii) issuance and/or acceptance of payment instruments; (iv) money remittances; (v) payment operations when the consent of the payer to execute the payment operation is given using telecommunications terminal devices, digital or IT devices and the payment is performed to an operator of telecommunications network or IT system, who is only a mediator between the provider of goods and the user of payment services.

Payment transfer – a payment service when money is transferred (electronic money is redeemed) to the payment account of the client at the initiative of the payer.  

Personal data – any information related to the natural (private) person who’s identity is known or can be directly or indirectly determined by using personal code (national ID number) and one or more physical, physiological, psychological, economic, cultural or social features specific to the individual.

Pricing – prices for COXIPAY’s services and operations confirmed by COXIPAY in accordance with the established regulations.

Recipient – a natural (private) or legal person indicated in the payment order as a recipient of the payment.

Service – the service of issuance and redemption of electronic money and other services provided by COXIPAY. 

Statement – a document prepared and provided by COXIPAY, which includes information about payment operations executed during the specific period of time.

Supplement – an agreement between COXIPAY and the Client on provision and usage of separate services provided by COXIPAY. The supplement can be identified as an agreement, rules, declaration, plan or in any other way. The supplement is an integral part of the present agreement.

System – a software solution on COXIPAY’s website, developed by COXIPAY and used for provision of COXIPAY’s services.  

Unique identifier – a combination of letters, numbers or symbols which COXIPAY, as a provider of payment services, provides to the user of payments services, and which is used for identification of the user of payment services participating in the payment operation and /or an account of the user used in the payment operation.

  • Registering in the system and creating an account
    • In order to start using COXIPAY’s services, the Client has to be registered in the COXIPAY’s system. COXIPAY has the right to refuse to register the new Client without indicating the reasons, however, COXIPAY assures that the refusal to register will always be based on significant reasons which COXIPAY does not have to or does not have the right to reveal.
    • When registering in the system, an account is created for the Client. The account is personal and only its owner, i.e. only the Client, including the Client’s representatives, have the right to use it. Once the Client has registered in the system and an account has been created, a COXIPAY’s account for the Client is opened automatically. The COXIPAY’s account operates according to the principle described in section 4 and 5 of the present agreement. 
    • The Client shall possess one account only.
    • The agreement shall enter into force and become valid indefinitely when the Client has been registered in the system, introduced to the terms and conditions of the agreement and expressed its consent to comply with its terms and conditions.
    • The Client’s registration in the system shall not be finalised until it ticks the respective box confirming it has been introduced to the terms and conditions of the present agreement and the agreement has been downloaded to its device.
    • The Client’s registration in the system is a confirmation of the Client that the Client expresses consent with the terms of the agreement and undertakes to adhere to them. By registering in the system, the Client confirms that it holds full legal capacity necessary to establish legal relationship. It is prohibited to use COXIPAY services for legal persons that does not satisfy the aforementioned condition.
    • The Client confirms that it has provided the correct data when registering in the system and, if there is a need in changing or adding data, the Client will submit correct data only. The Client shall bear any losses that may occur due to submission of invalid data.
    • In order for COXIPAY to start or continue provision of services, the Client shall confirm the account, provision of a new service or a part of a service and perform Client identification procedure under circumstances and procedures set out in the agreement or in the system. Client identification procedure, confirmation of the account and provision of new services is performed in order to ensure protection of the interests of the Client and COXIPAY.
    • COXIPAY has the right to demand data and/or documents that would help COXIPAY to identify the Client and/or receive significant information necessary for proper provision of COXIPAY’s services to the Client. Specific data and/or documents to be submitted shall be indicated in the message to the Client about the necessity to perform the identification procedure.
    • In order to perform an identification procedure, COXIPAY has the right to demand from the Client to provide original documents and/or their copies and/or copies of documents certified by a notary or any other person authorised by the state.
    • The Client identification procedure is specified in the AML Policy Principles of COXIPAY that are published on its website.
    • In separate cases, when performing duties established by the legislation or if it is required due to the type of the document (e.g., the original of the document has to be provided), COXIPAY has the right to demand from the Client to perform the Client identification procedure by a specific method indicated by COXIPAY.
    • The parties agree that the Client can confirm (sign) documents (e.g., agreements, consents, etc.) by electronic means (including, but not limited to, significant with a qualified e-signature). 
    • COXIPAY has the right to demand additional information and/or documents related to the Client or Client’s representative, or operations executed by them and request the Client or Client’s representative to fill in and periodically update the Client’s questionnaire. COXIPAY has the right to demand copies of the documents certified by a notary and/or translated at least into one of the acceptable to COXIPAY languages. All documents and information are prepared and provided at the expense of the Client. If the Client does not provide additional information and/or documents within reasonable time set by COXIPAY, COXIPAY has the right to suspend provision of all or a part of the services to the Client. 
    • The Client shall receive a notification about confirmation of the account, provision of a new service or renewed provision of suspended services via the email address, which has been indicated when registering in the system, or via SMS message, if the Client has specified only a mobile telephone number.
    • The Client is prohibited from having more than one account in the system and providing incorrect data when registering in the system. If the Client provides incorrect data, it is obliged to correct it. If due to inaccurate data the Client has created several accounts, it shall inform immediately COXIPAY about it, so that all created accounts would be merged into one account. In case of a breach of this provision, the Client may be blocked, illegal operations invalidated and the information transmitted to law enforcement institutions, if necessary.
  • Prices of COXIPAY’s services and settlement procedure
    • Prices of COXIPAY’s services are stated in the respective section of the present agreement or the supplement dedicated to a specific service.
    • If COXIPAY reduces the general prices of the services, the new prices will be applied without regard to whether the Client has been informed, but only if the prices have not been changed in the manner stated in section 11 herein.
    • COXIPAY commission fees are deducted:
      • for a COXIPAY operation;
      • if commission fees were not deducted when executing a COXIPAY operation, COXIPAY has the right to deduct them later, but not later than within 1 (one) month after the execution of the payment operation;
      • the commission fee for the operation is indicated to the Client before the COXIPAY operation (unless otherwise stated in the rules of the particular payment instrument or service). 
    • The Client confirms that it has been introduced to the prices and terms of payment transfers and other COXIPAY’s services that are applied and relevant to the Client.
    • COXIPAY has the right to deduct the commission fee from the account of the Client where the payment operation has been performed or from any other COXIPAY account opened by the Client.
  • The Client undertakes to ensure a sufficient amount of money on its account to pay/deduct the commission fee. If the amount of funds in the indicated currency is insufficient to pay the commission fee, COXIPAY has the right, but not the obligation, to exchange money on the account in another currency to a necessary currency by applying COXIPAY currency exchange rate published on its website. If there is money in several different currencies, COXIPAY may exchange it to the payable currency by the alphabetical order of the international abbreviations of the currencies. 
    • The Client, having failed to pay COXIPAY the remuneration for provided services, at the demand of COXIPAY must pay 0,05% interest for each day overdue.
  • COXIPAY account opening. Terms of issuance and redemption of electronic money
    • Under the present agreement, a COXIPAY account is opened for the Client in the system for an indefinite period of time.
    • COXIPAY account allows the Client to deposit, transfer, keep funds in the account for transfers, local and international money transfers executions, contribution payments, also receive money to the account, settle for goods and services, and perform other operations directly related to money transfers. All COXIPAY’s services may only be used by Clients who have performed identification procedures in accordance with the rules established in the system.
    • Money held on the COXIPAY Client’s account is considered electronic money which COXIPAY issues after the Client transfers or deposits money to its COXIPAY account. After the Client deposits/transfers money to its COXIPAY account and COXIPAY receives the money, COXIPAY credits it to the Client’s account, at the same time issuing electronic money at the nominal value. The electronic money is credited to and held on the Client’s COXIPAY account. 
    • The specific method of depositing/transferring funds to the COXIPAY account is selected by the Client in the account by selecting the “Add money” function, which contains instructions for depositing money for each method of payment.
    • The nominal value of electronic money coincides with the value of money deposited/transferred to the COXIPAY account (after deduction of standard commission fee applicable to a particular payment method).
    • Electronic money held on the COXIPAY account is not a deposit and COXIPAY does not, in any circumstances, pay any interest for electronic money held on the COXIPAY account and does not provide any other benefits associated with the time period the electronic money is stored.
    • The Client can create and have multiple COXIPAY accounts on the same personal account and use them at its discretion (however, the Client can have only one personal account).
    • At the request of the Client, electronic money held on its COXIPAY account shall be redeemed at their nominal value at any time, except for cases set forth in the agreement when limitations are applied to the account of the Client.
    • The Client submits the request for redemption of electronic money by generating a payment order to transfer electronic money from its COXIPAY account to any other account specified by the Client or withdraw electronic money from its COXIPAY account by other methods supported by COXIPAY and indicated in the system.
    • No specific conditions for electronic money redemption, that would differ from the standard conditions for transfers and other payment operations performed on the COXIPAY account, shall be applied. The amount of redeemed/transferred electronic money is chosen by the Client.
    • No additional fee for electronic money redemption is applied. In the event of redemption of electronic money, the Client pays the usual commission fee for a money transfer or withdrawal which depends on the method of electronic money transfer/withdrawal chosen by the Client. Standard COXIPAY commission fees for money transfer/withdrawal are applied.
    • Provided that the Client terminates the agreement and applies with the request to close its COXIPAY account and delete its account from the system, or COXIPAY terminates the provision of COXIPAY account services to the Client and deletes Client’s account from the system in cases provided in the agreement, money held on the COXIPAY Client’s account shall be transferred to the Client’s bank account or to the account in another electronic payment system indicated by the Client. COXIPAY has the right to deduct from the repaid money the amounts that belong to COXIPAY (fees for services provided by COXIPAY and expenses which have not been paid by the Client, including but not limited to, fines and damages incurred by COXIPAY due to a breach of the agreement committed by the Client, which have been imposed by international payment card organisations, other financial institutions and/or state institutions). In the event of a dispute between COXIPAY and the Client, COXIPAY has the right to detain money under dispute until the dispute is resolved.
    • In case COXIPAY fails to repay the money to the Client due to reasons beyond the control of COXIPAY, the Client shall be notified thereof immediately. The Client shall immediately indicate another account or provide additional information necessary to repay the money (execute a payment).
  • Usage of COXIPAY account
    • The Client may manage the COXIPAY account via the internet by logging in to its account with its login name and password.
  • to another user of the system;
  • to accounts in other electronic payment systems specified in the system.
    • After the Client has submitted a payment order to perform an international payment transfer, the supplement “Conditions of execution of international payment transfers” is applicable in addition to the present agreement.
    • Funds may be held on COXIPAY account in different currency. Keeping funds in different currency, the Client undertakes responsibility for possible depreciation of money due to changes in exchange rates. Currency exchange is based on the exchange rate of COXIPAY, which is valid at the moment of conversion and is constantly updated and published on its website.
    • Opening and maintenance of COXIPAY account is free of charge, except for cases defined in the agreement and its supplements. If no operations have been performed on the account of the Client for at least a year COXIPAY shall communicate to the Client in an agreed form that COXIPAY:
      • may close its bank account due to inactivity;
      • applies commission and specify what commission is applicable;
      • upon Client’s request may close or transfer the account.
    • A bank or another electronic money transfer system may apply fees for transferring money from COXIPAY Client’s account to the Client’s bank account, card or a payment account of another electronic payment system, as well as for transferring money from a bank account, card or another electronic payment system to COXIPAY account. 
    • Fees for COXIPAY’s services are deducted from the Client’s COXIPAY account. In case the amount of money on the COXIPAY account is less than the amount of the payment transfer and the price of the COXIPAY service, the payment transfer is not executed. 
    • When a different than SEPA or TARGET2 transfer is performed and the Client transfers money from its COXIPAY account to accounts in banks or other electronic payment institutions, COXIPAY is indicated as the payer. Together with the payment transfer the recipient is given the following information which in dependence on technical options can be transferred in one or several of the below indicated ways:
  • In case the payer indicates incorrect data of the recipient and the payment order is executed according to the data provided by the payer (e.g. the payer indicates a wrong account number), it shall be considered that COXIPAY has fulfilled the obligations properly and shall not repay the transferred amount to the payer. The payer shall directly contact the person, who has received the transfer, on the issue of returning the money.
    • The Client is obliged to provide a payment order for the execution of the payment transaction in accordance with the instructions specified in the system and valid at the moment of transfer. In case the Client is the recipient, it is obligated to provide detailed and precise information to the payer so that the payment order for the payment transaction in all cases complies with the instructions in the system and valid at the moment of transfer. Before sending a payment order for the execution of a payment transaction or sending information to another payer, the Client is required to check and update the instructions on filling in the account.
    • If the payer submits an incorrect payment order or indicates incorrect data for the payment transfer, but the payment transfer has not been executed yet, the payer may request to correct the payment order.
    • If COXIPAY cannot credit funds indicated in the payment order to the recipient due to errors of the payer made in the payment order, but the payer requests to return the funds indicated in the payment order, the payment order may be cancelled and funds may be returned to the payer, but only under a written request of the payer and if the recipient agrees to return the funds to the payer (if the recipient can be identified). In such a case fees for cancellation of the payment order indicated in the system are applied.
    • In all cases, when COXIPAY receives a payment order but funds cannot be credited due to errors in the payment order or insufficiency of information, and neither the payer nor the recipient has contacted COXIPAY for specification of the payment order or return of the funds, COXIPAY undertakes all possible measures to track the payment operation in order to receive accurate information and execute the payment order. To track the payment operation, the following measures may be used:
      • if COXIPAY has contact details of the payer (email address or phone number), COXIPAY contacts the payer for the payment order specification;
      • if COXIPAY does not have contact details of the payer and neither the payer nor the recipient contacts COXIPAY regarding the funds indicated in the payment order, COXIPAY contacts the provider of payment services of the payer which has sent the funds indicated in the payment order with a request to contact the payer for the information specification. This measure is applied if there are possibilities to contact the provider of payment services of the payer by electronic means:
    • In all cases specified in article 5.13, the fee for specification of the payment order indicated in the system is applied by debiting it from the amount of the transfer before crediting the transfer to the account of the Client – recipient.
    • In case it is impossible to apply neither of the measures listed in clause 5.13 for tracking the payment operation and in other cases when it is still impossible to identify the recipient according to the indicated or corrected data, the funds are stored in COXIPAY system until the payer or the recipient contacts and additional data allowing to credit the funds to the recipient is provided (after debiting the fee for specifying/correcting the payment order from the transferred amount before crediting it to the account of the Client – recipient). Such funds may also be returned to the payer under a written request of the payer. In this case the fee for returning the funds, which is indicated in the system, will be debited from the transferred amount before returning it to the payer.
    • The Client, having received money that has been credited to its COXIPAY account by mistake or in other ways that have no legal basis, is obliged to notify COXIPAY about it. The Client has no right to dispose of money that does not belong to it. In such cases COXIPAY has the right and the Client gives an irrevocable consent to deduct the money from the its COXIPAY account without the Client’s order. If the amount of money on the COXIPAY Client’s account is insufficient to debit the money credited by mistake, the Client unconditionally commits to repay COXIPAY the money credited by mistake in 3 (three) business days from the receipt of such request from COXIPAY.
    • The Client has the right to change limits on payment transfers for the payment account by completing an additional account confirmation in accordance with the procedure established in the system and setting other limits for transfers that will come into force after 12 hours after the additional verification procedures. The Client may set the limits at his own discretion, however COXIPAY has the right to limit the size of the limits. The Client may check the applied limits in the system. The Client will be notified about the limit’s entry into force by email.
    • The Client may check the account balance and history by logging in to the account. There is also information about all applied commission fees and other fees deducted from the account of the Client during a selected period of time.
    • The Client confirms that:
      • incoming funds on its COXIPAY account are not obtained as a result of criminal or other illegal activity;
      • the Client will not use services provided by COXIPAY for any illegal purposes, including actions and operations in order to legalise money received for a criminal or illegal activity.
    • The Client can manage the COXIPAY account and perform payment operations from the COXIPAY account:
      • via the internet, by logging in to its personal account;
      • by payment instruments linked to the COXIPAY account (the supplement “Payment Instruments” is applied after the Client has agreed to conditions of the supplement);
      • by other instruments indicated by COXIPAY after the Client has agreed to conditions of using such instruments. 
    • Client’s confirmations, orders, requests, notifications and other actions performed through websites of third persons or other places by logging in to its COXIPAY account and identifying itself in this way are treated as conclusion of a deal confirmed by electronic signature.
    • Managing COXIPAY account via the internet:
      • in order to execute a payment operation via the internet, the Client must fill in a payment order in the system and submit it for execution, electronically confirming in the system its consent to execute the payment order.
      • submission of the payment order in the system is an agreement of the Client to execute the payment operation and cannot be cancelled (cancellation of the payment order is only possible until the execution of the payment order has been started – status of the payment order and possibility of cancellation are visible on the account of the client).
      • in case the payment order has been filled in incorrectly, the payment transfer is not executed, unless COXIPAY at its own initiative in exceptional cases corrects the payment order or has a sufficient amount of information to determine the correctness of information to execute the payment order under a regular procedure.
  • Reception of the payment order, requirements applied to the payment order and refusal to execute the payment order
    • Provided the Client is the payer, the payment order is considered received by COXIPAY (calculation of the time period of execution of such payment order starts) on the day of its reception, or, if the moment of reception of the payment order is not a business day of COXIPAY, the payment order is considered received on the nearest business day of COXIPAY.
    • The payment order was received by COXIPAY on a business day of COXIPAY but not on business hours set by COXIPAY, is considered received on the nearest business day of COXIPAY.
    • Payment orders inside the COXIPAY system are executed immediately (up to a few minutes, unless the payment operation is suspended due to cases set forth by legal acts and the present agreement), regardless of business hours of COXIPAY.
    • COXIPAY has the right to record and store any payment orders submitted by any of the means agreed on with COXIPAY, and to record and store information about all payment operations performed by the Client or according to payment orders of the Client subject to the provisions of the Data Protection and Sensitive Data Storage Policies of COXIPAY. Records mentioned in the present clause may be submitted by COXIPAY to the Client and/or third persons, who have the right to receive such data under the basis set forth in the legislation, as evidence confirming the submission of payment orders and/or executed payment operations.
    • Payment orders submitted by the Client shall comply with requirements for submission of such payment order and/or content of the payment order set by the legal acts or by COXIPAY. Payment orders submitted by the Client shall be formulated clearly, unambiguously, shall be executable and contain clearly stated will of the Client. COXIPAY does not undertake responsibility for errors, discrepancies, repetitions and/or contradictions in payment orders submitted by the Client, including but not limited to, correctness of requisites of the payment order submitted by the client. If the payment order submitted by the Client does not contain enough data or contains deficiencies, COXIPAY, regardless of the nature of deficiencies in the payment order, can refuse to execute such payment order, or execute it in accordance with data given in the payment order.
    • COXIPAY has the right to refuse to execute a payment order in case of a reasonable doubt that the payment order has been submitted by the Client or a Client’s representative, payment order or the submitted documents are legitimate. In such cases, COXIPAY has the right to demand from the Client to additionally confirm the submitted payment order and/or submit documents confirming the rights of persons to manage the funds held on the account or other documents indicated by COXIPAY in a way acceptable to COXIPAY at expense of the Client. In cases mentioned in this clause COXIPAY acts with the aim to protect legal interests of the Client, COXIPAY and/or other persons, thus, COXIPAY does not undertake the responsibility for losses which may arise due to refusal to execute the submitted payment order.
    • The Client shall ensure a sufficient amount of money in a relevant currency on its account to execute the payment order. 
    • Before executing the payment, order submitted by the Client, COXIPAY has the right to demand from the Client documents which prove the legal source of money related to the payment order together with any other documentation as per AML Policy and relevant AML laws. In case the Client does not submit such documents, COXIPAY has the right to refuse to execute the payment order of the Client.
    • COXIPAY has the right to involve third parties to partially or fully execute the payment order of the Client if the Client’s interests and/or the essence of the payment order require so. In the event that the essence of the payment order of the Client requires sending and executing the payment further by another financial institution, but this institution suspends the payment order, COXIPAY is not responsible for such actions of the financial institution but makes attempts to find out the reasons for the suspension of the payment order. COXIPAY has the right to suspend and/or terminate the execution of the payment order of the Client, if required by law or in case it is necessary for other reasons beyond control of COXIPAY.
    • In case COXIPAY has refused to execute the payment, order submitted by the Client, COXIPAY shall immediately inform the Client thereon or create necessary conditions for the Client to get introduced to such notification, except when such notification is technically impossible or forbidden by legal acts. 
    • COXIPAY shall not accept and execute payment orders of the Client to perform operations on the account of the Client if funds on the account are arrested, the right of the Client to manage the funds is otherwise legally limited, or in case operations are suspended by applicable legal acts.
    • If money transferred by the payment order is returned due to reasons beyond the control of COXIPAY (inaccurate data of the payment order, the account of the recipient is closed, etc.), the returned amount is credited to the account of the Client. Fees paid by the payer for the payment order execution are not returned, and other fees related to the returning of money and applied to COXIPAY can be deducted from the account of the Client.
    • . The manner of the payment transfer is selected by the Client. If the Client does not select the payment transfer manner, it is considered that the Client has initiated a standard payment transfer.
  • Providing and cancellation of the consent, cancellation of the payment order
    • The payment transaction is considered authorised only if the payer provides a consent. The consent for payment given to COXIPAY intermediary is considered to be given to COXIPAY. The Client (payer) may provide consent in the manner determined by COXIPAY or agreed upon with the Client. The consent submitted in writing must be signed by the Client or his legal representative. The consent may also be confirmed by electronic signature, password, codes and/or other identity verification means. In all cases stipulated in this clause, the consent shall be deemed duly approved by the Client (payer), having the same legal validity as the paper document (the consent) signed by the Client (his representative), is permissible as a mean of proof in resolving disputes between COXIPAY and the Client in courts and other institutions. The Client shall not be entitled to contest the payment operation executed by COXIPAY if the payment order has been approved by the consent provided in the manner set out in this clause.
    • The consent of the Client (payer) is submitted prior to execution of the payment operation. Under an agreement between the Client (payer) and COXIPAY the payment operation may be authorised, i.e. such consent of the Client may be given after execution of the payment operation.
    • The Client agrees that COXIPAY will transfer personal data of the Client to persons directly related to execution of the payment operation, such as international payment card organisations, companies processing information about payments by payment cards, the provider of payment services of the recipient, the operator of the payment system for execution of the payment operation, intermediaries of the provider of payment services of the recipient and the recipient.
    • The procedure of cancellation of the payment order:
      • a payment order cannot be cancelled after COXIPAY receives it, except for cases provided in the agreement or laws;
      • if the payment operation had been initiated by the recipient or via the receiver (e.g. a payment via a payment card), the payer cannot cancel the payment order after the payment order has been sent or the payer has given the consent to the recipient to perform the payment operation;
      • upon expiry of the terms stipulated in clauses 7.4.1-7.4.2 of the agreement, the payment order may be cancelled only in case the Client (payer) and COXIPAY agree on this. In the cases stipulated in clause 7.4.2 of the agreement, the consent of the recipient is also necessary.
    • COXIPAY has the right, but not an obligation, to check whether the unique identifier given in the payment order received by COXIPAY corresponds to the name and surname (title) of the account owner. In case the mentioned unique identifier is given to COXIPAY to debit money from or credit money to the account, the payment order is deemed executed appropriately if it has been executed by the indicated unique identifier. If COXIPAY verifies the payment order and establishes an obvious discrepancy between the unique identifier provided to COXIPAY and the name and surname (title) of the account owner, COXIPAY has the right to refuse to execute such payment operation.
    • Provided COXIPAY receives a payment order to transfer money to the payment account of another provider of payment services, such payment operation is performed by COXIPAY according to the unique identifier provided in the received payment order – the account number of the recipient in IBAN format, except when the provider of payment services does not use the IBAN account format. COXIPAY does not hold the responsibility if the unique identifier is not provided in the payment order or it is incorrect, and/or the provider of payment services of the recipient has set a different unique identifier for appropriate execution of such payment operation (crediting of money to the payment account of the recipient).
    • If necessary and/or required by institutions of another states, COXIPAY has the right to receive an additional information (e.g. name and surname/title of the recipient, a payment code) required for the appropriate execution of the payment order.
    • When executing payment orders initiated by the client, COXIPAY shall transmit to the payment service provider the information (including personal data of the Client) specified by the recipient in the payment order.
  • Prohibited Activities
    • Client using COXIPAY services is prohibited from:
      • not complying with the terms of the agreement, the supplements to the agreement, legislation and other legal acts, including but not limited to, anti-money laundering and counters-terrorist financing acts;
      • violating the rights of COXIPAY and third parties to trademarks, copyrights, commercial secrets and other intellectual property rights;
      • providing false, misleading or incorrect information to COXIPAY; refusing to provide information or undertake other actions that are reasonably requested by COXIPAY;
      • providing to third parties false, misleading or incorrect information about COXIPAY and cooperation with COXIPAY;
      • executing or receiving transfers of illegally acquired funds, if the Client is aware of or should be aware of it;
      • using services of COXIPAY in a way which causes losses, responsibility or other negative legal consequences or damage to business reputation of COXIPAY or third persons;
      • using COXIPAY’s services from countries that are not acceptable to COXIPAY;
      • spreading computer viruses and undertaking other actions that could cause system malfunctions, information damage or destruction and other damage to the system, equipment or information of COXIPAY;
      • undertaking any other deliberate actions which could disturb provision of COXIPAY’s services to the Client or third parties or proper functioning of the system;
      • organizing illegal gambling, illegal trading of stocks, indices, raw materials, currency (e.g. Forex), options, exchange-traded funds (ETF); providing of trade, investment or other services on currency exchanges, Forex markets and other electronic currency trading systems; engaging in illegal trades of tobacco products, alcohol, prescription drugs, steroids, weapons, narcotic substances and its attributes, pornographic production, unlicensed lottery, illegal software and other articles or products prohibited by the law;
      • without a prior written consent of COXIPAY providing financial services and/or legally organising trading in stocks, indices, raw materials, currencies (e.g. Forex), options, exchange-traded funds (ETFs), providing trade, investment or other services on currency exchanges, Forex markets and other electronic currency trading systems. In case the Client intends to provide financial services using the account, it must have a valid licence, issued by a member state of the European Union or a third country that has imposed equivalent or substantially similar requirements and is monitored by the competent authorities with respect to compliance with these requirements;
      • without a prior written consent of COXIPAY to organise legal gambling, lotteries, other specially licenced or activities requiring a permit. In case the Client intends to provide the indicated services using the account, it must have a valid licence, issued by a member state of the European Union and monitored by the competent authorities with respect to compliance with these requirements;
      • having more than one account; registering an account by fictitious or someone else’s name without having the power of attorney; registering an account using services of anonymous phone numbers or email addresses provided by other individuals or websites;
      • providing services that are prohibited by the law or contradict public order and moral principles;
      • logging in to the system as an anonymous user (e.g. via proxy servers);
      • disclosing passwords and other personalised safety features of payment instruments to third persons and allowing other persons to use services under the name of the client.
    • The Client shall reimburse all direct damages, fines and other monetary sanctions applied to COXIPAY due to non-observance or violation of the terms, including but not limited to, clause 8.1 of the present agreement due to fault of the Client.
    • The Client is responsible and undertakes to reimburse any losses incurred by COXIPAY, other COXIPAY Clients and third parties due to using COXIPAY’s services and violating the present agreement or its supplements by the Client.
  • Sending notifications by the parties, communication and consultation of Clients
    • The Client confirms that agrees that COXIPAY notifications will be provided to the Client by placing them on the website of the system and by sending an email, which was indicated by the Client at the time of registration in the system, or by sending it to the address, indicated by the Client at the time of registration in the system, or by sending an SMS message in cases where the Client has indicated only a mobile phone number. The Client acknowledges that COXIPAY notification, submitted in any of the above-mentioned ways, shall be deemed as properly provided. Notifications by post or SMS messages are sent only if the Client has not indicated its email address. If such notifications are not related to the substantive amendment to the agreement, it shall be deemed that the Client received the notification within 24 hours from the moment it was posted on the website of the system or sent to the Client by email or SMS message. If the notification is sent by post, it shall be deemed that the Client received it within 5 (five) business days after it was sent, unless the Client actually receives the notification later than in terms specified in this part of the agreement.
    • In case a party of the agreement consists of plurality of persons (holders of a joint account, etc.), COXIPAY has the right to address notifications to any of the persons involved. The person who has received the information shall transmit the information to other persons indicated in the agreement.
    • In case COXIPAY notification relates to essential amendments to terms of the agreement, the Client shall be informed 60 (sixty) days in advance. It shall be deemed that the Client has received the notification and the amendments to terms of the agreement come into force within 60 (sixty) days after the notification has been published on the website of the system, sent to the Client by email or via any other mean that had been indicated by the Client during registration (post or SMS message with a link to a respective web page).
    • The 60 (sixty) days notification period shall not be applied and notifications shall be provided in accordance with order laid down in clause 9.1, if:
      • the terms of the agreement are changed due to changes in mandatory requirements of the legislation;
      • the prices of services are reduced;
      • the prime cost of provided services increases which leads to increase in prices of COXIPAY services;
      • a new service or a part of a service appears, which may be used or not used by the Client at its own choice.
    • Non-essential amendments of the agreement are style and grammar corrections, paraphrasing and moving a sentence, a clause or a section of the agreement for the sake of better understanding; provision of examples for articles and other changes which do not reduce or limit rights of the Client and do not increase liability of the Client or aggravate its situation.
    • The Client undertakes to check its email and other instruments for reception of notifications indicated on the account, as well as websites of the system, on a regular basis, i.e. at least once a business day, in order to notice notifications about amendments to the agreement in a timely manner.
    • All messages of the parties shall be sent in the acceptable language or in language in which the written agreement was presented to the Client to get introduced to.
    • The Client undertakes to publish on its account and, in case of amendments, immediately update the contact data (telephone number, email address and post address), which COXIPAY could use to urgently contact the Client or Client’s representatives. In case the Client does not update the contact data on its account, all consequences due to the failure of COXIPAY to submit notifications to the Client shall fall on the Client.
    • In order to protect funds of the Client from possible illegal actions of third persons, the Client undertakes to immediately inform COXIPAY in writing about theft or loss of its account information.
    • The Client can receive a consultation regarding all issues related to the system and execution of the agreement by sending its question via email given on COXIPAY website, contacting the Client support or filling in a request on the account. Client messages related to the present agreement shall be sent to the email address given on COXIPAY website or to the COXIPAY post address indicated in the agreement. All messages shall be sent to COXIPAY regardless of who is the direct provider of COXIPAY services defined in the agreement.
    • COXIPAY shall notify the Client in advance, in accordance with the procedure stated in clause 9.1. of the agreement, about known and possible technical failures of the system and systems or equipment of third parties involved by COXIPAY in provision of services, which have an impact on provision of COXIPAY services.
    • COXIPAY may change the solution for technical integration of services without constraint and at any time. Notification about any changes which require corrections in the software of the client shall be sent at least 90 (ninety) days in advance. Changes, required from the side of the Client, shall be made at expense of the Client.
    • The parties shall immediately inform each other about any circumstances significant for execution of the agreement. The Client shall submit documents confirming such circumstances (e.g. changes in name, surname, signature, address, phone number, other contact data, personal document or persons who have the right to manage funds on the Account, initiation of bankruptcy proceedings against the client, etc.), whether this information has been already transferred to public registers or not.
    • COXIPAY has the right to demand the documents concluded abroad to be translated, legalised or confirmed with an apostille, except when legal acts state otherwise.
    • In case the Client has provided to COXIPAY documents which do not comply with requirements set by the legal acts and/or COXIPAY or COXIPAY has reasonable doubts concerning the authenticity or correctness of the submitted documents, COXIPAY has the right to refuse to execute payment orders submitted by the Client, suspend provision of other services and/or demand from the Client to submit additional documents.
    • The Client has the right to consult valid amendments to the agreement, its supplements and pricing on COXIPAY website at any time.
  • Amendments to the agreement
    • COXIPAY has the right to unilaterally amend and/or supplement conditions of the agreement according to procedure set forth in clauses 10.2-10.5 of the present agreement. 
    • The Client has no right to unilaterally change and/or amend the conditions of the agreement. 
    • In case the Client does not agree to amendments or supplements to the agreement, it has the right to refuse COXIPAY services and terminate the agreement, notifying COXIPAY thereof 30 (thirty) days in advance.
    • Using COXIPAY services after the amendments or supplementation of conditions of the agreement have come into force shall deem that the Client agrees with the amendments or supplements of the conditions of the agreement.
    • Supplements to the agreement are amended according to the procedure laid down in the respective supplement. If no amendment procedure is laid down in the supplement, the procedure of amendment and amendment notification procedure stated in this agreement shall apply.
    • The parties may agree on additional conditions which are not provided in the agreement or supplements, or other conditions which are not stated in the agreement or supplement, by a separate written agreement. Such agreement shall become an integral part of the agreement. Upon a request of the Client, a draft agreement shall be prepared by COXIPAY and sent to the Client by fax or email (the agreement may also be concluded in a form of a declaration). If the Client agrees with the draft provided, the Client shall sign the draft and forward the scanned copy of the document to COXIPAY by fax or email. COXIPAY has the right to require the Client to send the agreement by post with the original signature of the Client. Such agreement shall enter into force after the signed agreement has been sent to COXIPAY, i.e. the signature of COXIPAY on the agreement is not required and COXIPAY is not obliged to send the signed agreement back to the Client.
  • Suspension of service provision. Termination of the agreement (deleting the account)
    • COXIPAY, at its own discretion and taking at consideration the specific situation, giving preference to execution of legal acts, applied to the activity of COXIPAY, and interests of the Client, has the right to unilaterally and without a prior notice apply one or several of the following measures:
      • to suspend execution of transfers;
      • to suspend provision of all or part of services to the Client;
      • limit Client’s access to the account;
      • to detain the Client’s funds that are a matter of dispute;
      • to block the account (i.e. fully or partially suspend payment operations on the account) and/or the payment instrument (i.e. fully or partially prohibit to use the payment instrument);
      • to refuse to provide services;
      • to return arrested funds from the account of the Client to the primary sender of funds.
    • Measures indicated in clauses 11.1.1-11.1.7 of the agreement may be applied only in the following exceptional cases:
      • if the Client essentially violates the agreement or its supplements, or a real threat of essential violation of the agreement or its supplements by the Client arises;
      • if activities of the Client using COXIPAY account have a potential to harm COXIPAY business reputation;
      • if the Client fails to complete necessary identification procedures, or submit the required by COXIPAY information, or observe the requirements set forth in section 8 of the agreement;
      • if due to further provision of services and activity of the Client, justified interests of third parties may be harmed;
      • if due to objectively justified reasons related to safety of funds on the account and/or the payment instrument, unauthorised or fraudulent use of money on the account and/or the payment
      • if COXIPAY finds out about theft or loss of the payment instrument, suspects or finds out about illegal purchase or unauthorised usage of the payment instrument, also in case of facts or suspicions that personalised safety features of the payment instrument (including identity confirmation instruments) have become known or may be used by third persons, COXIPAY has reasonable suspicions that funds or the payment instrument may be illegally used by third persons or the account and/or the payment instrument may be used for illegal activity;
      • if COXIPAY receives substantiated information about liquidation of the Client or bankruptcy case;
      • in cases specified by legislation;
      • in other cases stated in the agreement or its supplements.
    • The measure, specified in clause 11.1.7 of the agreement, may be applied to the Client in the event that COXIPAY has reasonable suspicions that the Client is engaged in fraudulent activities. In this case, at first the funds of the primary payers on the account of the Client are frozen and, if the Client does not perform the necessary actions (complete an additional identification procedure, provide the requested documents) or provide a reasoned explanation of the specified case in time, the frozen funds may be returned to primary payers. This measure is also applied in cases where COXIPAY has a law enforcement order to return frozen funds to the primary payer.
    • The purpose of limitations set forth in clause 11.1 of the agreement is to protect COXIPAY, other third persons and the Client from potential monetary sanctions, losses and other negative consequences.
  1. In case of reasonable suspicion by COXIPAY that the account or COXIPAY account of the Client has been hacked, COXIPAY has the right to partially or completely suspend provision of services to the Client without prior notice. In such case, COXIPAY will inform the Client about the suspension and provide further information on actions that have to be performed by the Client in order to resume provision of services to the Client.
    1. COXIPAY cancels blockage of the account and/or payment instrument (or replaces it with a new payment instrument) when causes for blockage of the account and/or payment instrument cease to exist.
    1. The account and/or the payment instrument may be blocked at the initiative of the Client if the Client submits an appropriate request to COXIPAY and informs COXIPAY that the payment instrument of the Client has been stolen or lost, or funds on the account and/or the payment instrument are used or may be used illegally. COXIPAY has the right to demand from the Client to later confirm the orally submitted request to block the account and/or payment instrument in written or another acceptable to COXIPAY way. If the account and/or the payment instrument has been blocked at the initiative of the Client, COXIPAY has the right to cancel blockage only after receiving a written request from the Client, unless the agreement states otherwise. COXIPAY has the right to replace the blocked payment instrument with a new one.
    1. COXIPAY is not liable for losses incurred by the Client due to suspension of service provision, blockage of the account and/or payment instrument or other actions if those actions have been performed in accordance with the procedures stated in the agreement or its supplements and under circumstances and on the basis specified in the mentioned documents. 
    1. Following the procedure set forth by the law, COXIPAY has the right to withhold money of the payment operation for up to 10 (ten) business days or for a longer period of time stated by the law, the agreement or its supplement. 
    1. The Client has the right to terminate the agreement unilaterally without appealing to the court, notifying COXIPAY thereof in writing 30 (thirty) calendar days in advance. If the Client terminates the agreement, the issued electronic money is returned to the Client by its chosen mean (indicated in the agreement) in accordance with the limits of payment transfers specified in the present agreement.
    1. COXIPAY has the right to terminate the agreement and its supplements unilaterally and refuse to provide services without indicating the reason, notifying thereof the client 60 (sixty) days in advance by means provided in section 10 of the present agreement. COXIPAY also has the right to terminate the agreement and its supplements unilaterally and refuse to provide services for the reasons stated in clause 11.2 of the present agreement, notifying thereof the Client 30 (thirty) days in advance by means provided in the present agreement.
    1. Under a request of COXIPAY, the agreement and its supplements may be terminated immediately, in case no operations have been made on the account of the Client for more than one year.
    1. In case of termination of the agreement, COXIPAY deducts from the account of the Client money amounts, payable for COXIPAY services provided to the Client, also fines, forfeits, losses and other amounts paid to third parties or the state, which COXIPAY has incurred due to the fault of the Client. In case the amount of money on COXIPAY account (or accounts) of the Client is insufficient, the Client undertakes to transfer provided amounts to the account of COXIPAY within 3 (three) business days covering all amounts indicated in the present clause. In case COXIPAY regains a part of amounts paid to third parties, COXIPAY undertakes to return the regained amounts to the Client immediately.
    1. Termination of the general agreement does not exempt the Client from appropriate execution of all liabilities to COXIPAY that were applicable towards the Client before the termination.
    1. After terminating the agreement between COXIPAY and the Client, the Client shall choose a mean for redemption of electronic money from the account of the Client. In case the identification level of the Client does not comply with the level necessary to redeem all electronic money, the Client shall choose another identification level and perform required actions to change the identification level. The Client agrees to perform actions necessary to redeem electronic money and understands that by such means COXIPAY aims to reduce the risk of fraud and seeks to comply with anti-money laundering and other legal requirements.
    1. In case after terminating the agreement between COXIPAY and the Client, the Client does not choose a mean for electronic money redemption and/or does not complete an additional identification procedure for increasing the limits, COXIPAY may (but is not obligated to) redeem the electronic money of the Client by the mean of electronic money redemption which is available at the moment of redemption.
  2. Confidentiality and data protection
    1. The parties undertake to keep technical and commercial information of each other secret, except for publicly available information which has become known to them while executing the present agreement, and not transfer it to third parties without a written consent from the other party or its legal representatives. 
    1. The Client agrees for COXIPAY (as a data controller) to manage its personal data with the following purposes:
      1. to provide payment services;
      1. provide service-related information the Client requests;
      1. for marketing purposes*, e.g. providing customised advertisements and sponsored content and sending promotional communications; assessment and analysis of COXIPAY’s market, clients, products and services (including asking for Client’s opinions on COXIPAY’s products and services, carrying out Client surveys, running competitions or promotions, as permitted by law);
      1. to understand the way people use COXIPAY’s online services so that COXIPAY can improve them and develop new content, products and services;
      1. to protect COXIPAY’s interests before any court or any other institution;
      1. otherwise with Client’s consent.

* the Clients may opt out of direct marketing communications from COXIPAY at any time. If it prefers not to receive COXIPAY’s direct marketing communications, it shall inform COXIPAY by sending an email to [email protected] or clicking on the opt-out link appearing in the newsletter.

  1. The parties shall take all reasonable measures to guarantee security of personal data received while executing the present agreement. COXIPAY may disclose personal data to the following entities:
    1. companies that provide services for COXIPAY;
    1. banks/companies that provide payment services;
    1. companies assisting with organising competitions/games/promotions;
    1. other carefully selected business partners;
    1. other parties, when so required under law or necessary in order to protect our legitimate interests.
    1. The period of storage of personal data related to payment transactions is 10 (ten) years from the relevant payment transaction, except when the legislation requires a longer period of data storage. Personal data not related to payment transactions shall bet kept for the period of 3 years.  After the period of personal data processing expires, COXIPAY destroys personal data at its possession.
    1. The Client undertakes to protect and not disclose any passwords, created by it or provided to it under the present agreement, or other personalised security features of payment instruments to third persons and not to allow other persons to use services under the name of the Client. If the Client has not complied with this obligation and/or could but have not prevented it and/or performed such actions on purpose or due to own negligence, the Client fully assumes the loses and undertakes to reimburse the loses of other persons incurred due to the indicated actions of the client or its failure to act.
    1. In the event of loss of an account password or other passwords by the Client or the password/passwords are disclosed not due to the fault of the Client or COXIPAY, or in case of a real threat has occurred or may occur to the account of the Client, the Client undertakes to change the passwords immediately or, if the Client does not have a possibility to do that, notify COXIPAY thereof immediately (not later than within one calendar day) by means indicated in section 9. COXIPAY shall not be liable for consequences that have originated due to the notification failure.
    1. After COXIPAY receives the notification from the Client as indicated in clause 12.6, COXIPAY shall immediately suspend access to the account of the Client and provision of COXIPAY services until a new password is provided/created for the Client.
    1. COXIPAY draws the attention of the Client to the fact that the email linked to the COXIPAY account and also other instruments (e.g. mobile telephone number), which under Client’s choice are linked to its COXIPAY account, are used as instruments for communication or identification of the Client, therefore, these instruments and logins to them shall be protected by the Client and any changes of the email and instruments must be reported to the COXIPAY within 3 calendar days. The Client is completely responsible for safety of its email passwords and all the other instruments used by it and their login passwords. Passwords are secret information, and the Client is responsible for its disclosure and for all operations performed after the password used by the Client for a relevant account or another payment instrument is entered. COXIPAY recommends to memorise passwords and not to write them down or enter in any instruments where they may be seen by other persons and to change passwords frequently (e.g. once in a few months).
    1. Issues of protection of the Client’s personal data are also regulated by the supplement to the agreement “Data Privacy Policy”, that is published in the COXIPAY website and which the Client has read and undertakes to observe. 
    1. COXIPAY has the right or a statutory obligation to transmit all collected important information (including personal data) about the Client, Client’s representatives and their activity to law enforcement institutions, state authorities (State Tax Inspectorate (VMI), Social Insurance Fund (SODRA), Financial Crime Investigation Service), and other financial institutions as well as supervisory authorities, if such duty is determined by the legislation, and in order to identify whether this agreement and relevant legislation have not been or will not be violated.
    1. The Client is informed that COXIPAY might undertake necessary measures, including but not limited to, submitting requests to third persons directly or via third parties in order to determine identity of the Client and accuracy of other data submitted by the Client (KYC procedure).
    1. COXIPAY points out that in all cases COXIPAY operates only as a service provider for the Client, which sends money to the recipient under the request of the Client (money sender) and does not provide or offer any services to the recipient until it has become a Client of COXIPAY.
  1. The Client is informed that its account number and personal data required for the payment transfer may be detected and displayed to another COXIPAY user who intends to make a payment transfer to the Client if another COXIPAY user enters a confirmed identifier of the Client (name, surname, bank account, email address).
  2. Liability of the parties
    1. Each party is liable for all fines, forfeits and other losses which the other party incurs due to violation of the agreement by the guilty party. The guilty party undertakes to reimburse direct damage incurred due to such liability to the affected party.
    1. The liability of the Parties is established in accordance with the laws and case law of the courts of the Republic of Lithuania. COXIPAY is not liable for the Client’s losses resulted through the Client’s fault and/or from lawful actions of the Customer.
    1. Nothing in this Agreement shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.
    1. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation, unless otherwise expressly indicated in the laws
    1. COXIPAY shall only be liable for direct damages caused by direct and essential breach of the agreement made by COXIPAY, and only for damages which could have been foreseen by COXIPAY at the time of breaching of the agreement;
      1. the amount of compensation for damages caused by violating the agreement by COXIPAY shall not exceed the average of commission fees for the last 3 (three) months paid to COXIPAY by the Client for provided services. This restriction is applied for the total amount of all violations of the month. In case the average of 3 (three) months cannot be calculated, the compensation cannot exceed EUR 2,000 (two thousand); 
      1. in all cases, COXIPAY shall not be liable for non-receipt of profit and income by the Client, loss of reputation of the Client, loss or failure of Client’s business, and indirect damages;
      1. limitations of COXIPAY liability shall not be applied if such limitations are prohibited by the applicable law.
      1. COXIPAY does not guarantee uninterrupted system operation, because system operation may be influenced (disordered) by many factors beyond control of COXIPAY. COXIPAY shall put all efforts to secure as fluent system operation as possible, however, COXIPAY shall not be liable for consequences originating due to system operation disorders if such disorders occur not due to the fault of COXIPAY.
    1. The system may not operate due to reasons under control of COXIPAY and COXIPAY shall not provide any compensation for malfunctions which do not depend on the actions of COXIPAY.
    1. Cases, when COXIPAY limits access to the system temporarily, but not longer than for 24 (twenty-four) hours, due to the system repair, development works and other similar cases, and if COXIPAY informs the Client about such cases at least 2 (two) calendar days in advance, shall not be considered system operation disorders.
    1. COXIPAY is not liable for:
      1. money withdrawal and transfer from the COXIPAY account and for other payment operations with funds held on the Client’s COXIPAY account if the Client had not protected its passwords and identification instruments, and as a result they have become known to other persons, and also for illegal actions and operations of third persons performed using counterfeited and/or illegal documents or illegally received data;
      1. consequences arising after COXIPAY legally terminates the agreement, cancels Client’s account or limits access to it, also after reasonable limitation/termination of provision of a part of the services;
      1. goods and services purchased using COXIPAY account, and also for other party, which receives payments from the COXIPAY account, not complying with terms of any agreement;
      1. for a failure to fulfil its own contractual obligations and damages in case it was caused due to COXIPAY fulfilling duties determined by the law.
    1. The Client assures that all actions of the Client related to the execution of the agreement will comply with the applicable law.
    1. The Client is fully liable for correctness of data, orders and documents submitted to COXIPAY.
    1. If the payment operation is executed in the currency of a member country to/from a foreign country or in the currency of a foreign country, the Client bears all the losses incurred due to the usage of a lost or stolen payment instrument; illegal acquisition of a payment instrument if the client had not protected personalised security features (including identity confirmation instruments).
    1. The Client bears any losses incurred due to unauthorised payment operations if the Client has suffered the losses as a result of acting dishonestly or due to its gross negligence or intentionally not fulfilling one or several of the duties indicated below:
      1. to comply with the rules regulating issuance and usage of the payment instrument provided in the present agreement or its supplements, when using the payment instrument;
      1. if the Client finds out about a loss, theft, illegal acquisition or unauthorised usage of the payment instrument, about facts and suspicions that personalised security features of its payment instruments have become known to or can be used by third persons, the Client shall notify COXIPAY or the subject indicated by COXIPAY immediately, in accordance with the rules regulating issuance and usage of the payment instrument provided in the present agreement and its supplements;
      1. to undertake all possible measures to protect personalised security features of the payment.
    1. The party is relieved from the liability for failure to comply with the agreement in case the party proves that the agreement has not been executed due to circumstances of force majeure which are proven in accordance with the procedure established by the law. The Client shall notify COXIPAY about the force majeure in writing within 10 (ten) calendar days after the day of occurrence of such circumstances. COXIPAY shall notify the Client about force majeure circumstances via email or websites of the system.
  3. Settlement of disputes between the client and COXIPAY
    1. COXIPAY aims to settle all disputes with the Client amicably, promptly and on terms acceptable to both parties, thus, in case of a dispute, clients are encouraged to firstly address COXIPAY directly. Disputes are solved by negotiation. 
    1. The Client may submit any claim or complaint regarding services of COXIPAY by sending a notification via email, calling the client support centre or sending a notification via the account.
    1. The complaint shall contain a reference to circumstances and documents that served as a basis for the complaint. If the Client bases its complaint on documents which COXIPAY does not possess, the Client shall also submit such documents or their copies.
    1. Terms of consideration of claims and complaints of Clients:
      1. COXIPAY shall examine Client’s claim or complaint and notify the Client about the decision not later than within 30 (thirty) days from the day of receipt, except when the legislation or other binding regulations related to provision of services of COXIPAY (e.g. rules of international payment card organisations) indicate a different period of time.
      1. if COXIPAY is not capable to provide the answer to the complaint of the Client within the time period specified in the clause 14.4.1, COXIPAY shall inform the Client about the reasons and indicate the time period in which the answer shall be provided.
    1. Analysis of complaints of the client by COXIPAY is free of charge.
    1. If the Client is not satisfied with the decision made by COXIPAY, the Client has the right to use other legal remedies to protect its rights and submit claim to the Bank of Lithuania, contacts:
      1. E-mail: [email protected];
      1. Tel.: 8 5 268 05 01 (02).
      1. Address: Zirmunu str. 151, Vilnius, Lithuania.
    1. In case of failure to settle a dispute amicably or in other extrajudicial methods of dispute resolution specified in the clause 14.6 herein, the dispute shall be settled by the courts following the procedure established by the law. A court shall be chosen according to the location of COXIPAY office.
    1. This agreement, its supplements, and relations of the parties that are not regulated by this agreement, including cases when a dispute between the client and COXIPAY falls within jurisdiction of a court of another state, shall be construed and interpreted in accordance with the laws of the Republic of Lithuania.
  4. Final provisions
    1. Each party confirms that possesses all permissions and licences required under the applicable law that are necessary for the execution of the present agreement.
    1. Titles of sections and articles of the agreement are intended solely for convenience of the parties and cannot be used for interpretation of the provision of the present agreement.
    1. The parties are independently liable to the state and other subjects for fulfilment of all tax obligations. COXIPAY shall not be liable for execution of tax obligations of the Client, calculation or transferring of taxes applied to the Client.
    1. COXIPAY in all cases acts as an independent party of the agreement that shall not control or undertake liability for products and services which are paid for using COXIPAY services. COXIPAY does not undertake liability that the buyer, seller or another party will fulfil the terms of a bargain clinched with the Client.
    1. The Client does not have the right to assign its rights and obligations arising out of this agreement to third parties without a prior written consent from COXIPAY. COXIPAY reserves the right to assign its rights and obligations arising out of this agreement to third parties at any time without a consent from the Client if such transfer of rights and obligations does not contradict the legislation. COXIPAY informs the Client on such assignment within 10 days after the assignment,
    1. If any provision of the agreement becomes invalid, other provisions of this agreement remain in force.
    1. The agreement shall come into force in accordance with clause 2.4 of the present agreement. The Client may save the text of the agreement at the time of registering in the system.
    1. This agreement is provided in the system in English language. The Client agrees that communication in English is acceptable.
    1. Links to websites given in the agreement and supplements regulating provision of separate services are integral part of this agreement and are applied to the Client from the moment it starts using the respective service.

Acceptable language – English and Lithuanian.

Account – the result of registration in the computer system, during which personal data of the registered Client is saved, a login name is assigned and the rights of the Client in the system are defined.

Agreement – an agreement between the Client and GNI which includes the present general payment services agreement and any other conditions and documents (supplements, agreements, rules, declarations, etc.), including but not limited to the information on the websites, which is referenced in the present general payment services agreement.

Business day – a day, when GNI provides its services, set by GNI. GNI can set different business days for different services.

Client – a legal person or an undertaking that does not enjoy the status of a legal person but is acting in such capacity and is registered in GNI’s system and holds an account. The Client must always be acting for purposes relating to his trade, business, craft or profession.

Client’s representative – a natural (private) person duly representing the Client. Validity of representation is examined by GNI before establishing business relationship.

Client identification – proving the identity of the Client under procedure specified in the system.

Commission fee – a fee charged by GNI for a payment operation and/or related services. 

Consent – a consent of the payer to perform the payment operation. 

Electronic money – monetary value as represented by a claim on the issuer which is issued on receipt of monetary funds by the electronic money issuer from a natural or a legal person and has the following characteristics:

  •  stores electronically, including magnetically;
  •  is issued for the purpose of making payment transactions;
  •  is received by the persons other than electronic money issuers.

GNI account or account – an account opened in the system in the name of the Client and used to make payments and other payment operations.

GNI – GlobalNetint, UAB. All payment services will be provided by GlobalNetint, UAB (legal entity code 304604766, registered legal entity address at Lvovo str. 25-104, Vilnius, the Republic of Lithuania, email address: [email protected], data about the company is collected and stored at the Register of Legal Entities of the Republic of Lithuania; Electronic Money Institution licence No. 21, issued on 8 December 2017; issuing and supervisory body is the Bank of Lithuania (www.lb.lt)).

Password (passwords) – any code of the Client created in the system or provided to the Client by GNI for the access to the GNI account or initiation and management of separate services provided by GNI and/or initiation, authorisation, implementation, confirmation and reception of payment operations.

Party – GNI or the Client.

Payer – a natural (private) or legal person who submits a payment order.

Payment instrument – any payment instrument which the system allows to link to the GNI’s account and perform payment transfers using this payment instrument.

Payment order – an order (payment transfer) from the payer or the recipient to the provider of payment services to execute a payment operation. 

Payment operation – a money transfer, payment or withdrawal initiated by a payer or a recipient, regardless of the position of the payer and the payee on which the operation is based.

Payment services – (i) payment operations, including transfer of money held on the payment account opened in the institution of the provider of payment services of the user of payment services or in another payment institution; (ii) payment operations when money is given to the user of payment services under a credit line: payment operations using a payment card or a similar instrument and/or credit transfers, including periodic transfers; (iii) issuance and/or acceptance of payment instruments; (iv) money remittances; (v) payment operations when the consent of the payer to execute the payment operation is given using telecommunications terminal devices, digital or IT devices and the payment is performed to an operator of telecommunications network or IT system, who is only a mediator between the provider of goods and the user of payment services.

Payment transfer – a payment service when money is transferred (electronic money is redeemed) to the payment account of the client at the initiative of the payer.  

Personal data – any information related to the natural (private) person who’s identity is known or can be directly or indirectly determined by using personal code (national ID number) and one or more physical, physiological, psychological, economic, cultural or social features specific to the individual.

Pricing – prices for GNI’s services and operations confirmed by GNI in accordance with the established regulations.

Recipient – a natural (private) or legal person indicated in the payment order as a recipient of the payment.

Service – the service of issuance and redemption of electronic money and other services provided by GNI. 

Statement – a document prepared and provided by GNI, which includes information about payment operations executed during the specific period of time.

Supplement – an agreement between GNI and the Client on provision and usage of separate services provided by GNI. The supplement can be identified as an agreement, rules, declaration, plan or in any other way. The supplement is an integral part of the present agreement.

System – a software solution on GNI’s website, developed by GNI and used for provision of GNI’s services.  

Unique identifier – a combination of letters, numbers or symbols which GNI, as a provider of payment services, provides to the user of payments services, and which is used for identification of the user of payment services participating in the payment operation and /or an account of the user used in the payment operation.

  • Registering in the system and creating an account
    • In order to start using GNI’s services, the Client has to be registered in the GNI’s system. GNI has the right to refuse to register the new Client without indicating the reasons, however, GNI assures that the refusal to register will always be based on significant reasons which GNI does not have to or does not have the right to reveal.
    • When registering in the system, an account is created for the Client. The account is personal and only its owner, i.e. only the Client, including the Client’s representatives, have the right to use it. Once the Client has registered in the system and an account has been created, a GNI’s account for the Client is opened automatically. The GNI’s account operates according to the principle described in section 4 and 5 of the present agreement. 
    • The Client shall possess one account only.
    • The agreement shall enter into force and become valid indefinitely when the Client has been registered in the system, introduced to the terms and conditions of the agreement and expressed its consent to comply with its terms and conditions.
    • The Client’s registration in the system shall not be finalised until it ticks the respective box confirming it has been introduced to the terms and conditions of the present agreement and the agreement has been downloaded to its device.
    • The Client’s registration in the system is a confirmation of the Client that the Client expresses consent with the terms of the agreement and undertakes to adhere to them. By registering in the system, the Client confirms that it holds full legal capacity necessary to establish legal relationship. It is prohibited to use GNI services for legal persons that does not satisfy the aforementioned condition.
    • The Client confirms that it has provided the correct data when registering in the system and, if there is a need in changing or adding data, the Client will submit correct data only. The Client shall bear any losses that may occur due to submission of invalid data.
    • In order for GNI to start or continue provision of services, the Client shall confirm the account, provision of a new service or a part of a service and perform Client identification procedure under circumstances and procedures set out in the agreement or in the system. Client identification procedure, confirmation of the account and provision of new services is performed in order to ensure protection of the interests of the Client and GNI.
    • GNI has the right to demand data and/or documents that would help GNI to identify the Client and/or receive significant information necessary for proper provision of GNI’s services to the Client. Specific data and/or documents to be submitted shall be indicated in the message to the Client about the necessity to perform the identification procedure.
    • In order to perform an identification procedure, GNI has the right to demand from the Client to provide original documents and/or their copies and/or copies of documents certified by a notary or any other person authorised by the state.
    • The Client identification procedure is specified in the AML Policy Principles of GNI that are published on its website.
    • In separate cases, when performing duties established by the legislation or if it is required due to the type of the document (e.g., the original of the document has to be provided), GNI has the right to demand from the Client to perform the Client identification procedure by a specific method indicated by GNI.
    • The parties agree that the Client can confirm (sign) documents (e.g., agreements, consents, etc.) by electronic means (including, but not limited to, signing with a qualified e-signature). 
    • GNI has the right to demand additional information and/or documents related to the Client or Client’s representative, or operations executed by them and request the Client or Client’s representative to fill in and periodically update the Client’s questionnaire. GNI has the right to demand copies of the documents certified by a notary and/or translated at least into one of the acceptable to GNI languages. All documents and information are prepared and provided at the expense of the Client. If the Client does not provide additional information and/or documents within reasonable time set by GNI, GNI has the right to suspend provision of all or a part of the services to the Client. 
    • The Client shall receive a notification about confirmation of the account, provision of a new service or renewed provision of suspended services via the email address, which has been indicated when registering in the system, or via SMS message, if the Client has specified only a mobile telephone number.
    • The Client is prohibited from having more than one account in the system and providing incorrect data when registering in the system. If the Client provides incorrect data, it is obliged to correct it. If due to inaccurate data the Client has created several accounts, it shall inform immediately GNI about it, so that all created accounts would be merged into one account. In case of a breach of this provision, the Client may be blocked, illegal operations invalidated and the information transmitted to law enforcement institutions, if necessary.
  • Prices of GNI’s services and settlement procedure
    • Prices of GNI’s services are stated in the respective section of the present agreement or the supplement dedicated to a specific service.
    • If GNI reduces the general prices of the services, the new prices will be applied without regard to whether the Client has been informed, but only if the prices have not been changed in the manner stated in section 11 herein.
    • GNI commission fees are deducted:
      • for a GNI operation;
      • if commission fees were not deducted when executing a GNI operation, GNI has the right to deduct them later, but not later than within 1 (one) month after the execution of the payment operation;
      • the commission fee for the operation is indicated to the Client before the GNI operation (unless otherwise stated in the rules of the particular payment instrument or service). 
    • The Client confirms that it has been introduced to the prices and terms of payment transfers and other GNI’s services that are applied and relevant to the Client.
    • GNI has the right to deduct the commission fee from the account of the Client where the payment operation has been performed or from any other GNI account opened by the Client.
  • The Client undertakes to ensure a sufficient amount of money on its account to pay/deduct the commission fee. If the amount of funds in the indicated currency is insufficient to pay the commission fee, GNI has the right, but not the obligation, to exchange money on the account in another currency to a necessary currency by applying GNI currency exchange rate published on its website. If there is money in several different currencies, GNI may exchange it to the payable currency by the alphabetical order of the international abbreviations of the currencies. 
    • The Client, having failed to pay GNI the remuneration for provided services, at the demand of GNI must pay 0,05% interest for each day overdue.
  • GNI account opening. Terms of issuance and redemption of electronic money
    • Under the present agreement, a GNI account is opened for the Client in the system for an indefinite period of time.
    • GNI account allows the Client to deposit, transfer, keep funds in the account for transfers, local and international money transfers executions, contribution payments, also receive money to the account, settle for goods and services, and perform other operations directly related to money transfers. All GNI’s services may only be used by Clients who have performed identification procedures in accordance with the rules established in the system.
    • Money held on the GNI Client’s account is considered electronic money which GNI issues after the Client transfers or deposits money to its GNI account. After the Client deposits/transfers money to its GNI account and GNI receives the money, GNI credits it to the Client’s account, at the same time issuing electronic money at the nominal value. The electronic money is credited to and held on the Client’s GNI account. 
    • The specific method of depositing/transferring funds to the GNI account is selected by the Client in the account by selecting the “Add money” function, which contains instructions for depositing money for each method of payment.
    • The nominal value of electronic money coincides with the value of money deposited/transferred to the GNI account (after deduction of standard commission fee applicable to a particular payment method).
    • Electronic money held on the GNI account is not a deposit and GNI does not, in any circumstances, pay any interest for electronic money held on the GNI account and does not provide any other benefits associated with the time period the electronic money is stored.
    • The Client can create and have multiple GNI accounts on the same personal account and use them at its discretion (however, the Client can have only one personal account).
    • At the request of the Client, electronic money held on its GNI account shall be redeemed at their nominal value at any time, except for cases set forth in the agreement when limitations are applied to the account of the Client.
    • The Client submits the request for redemption of electronic money by generating a payment order to transfer electronic money from its GNI account to any other account specified by the Client or withdraw electronic money from its GNI account by other methods supported by GNI and indicated in the system.
    • No specific conditions for electronic money redemption, that would differ from the standard conditions for transfers and other payment operations performed on the GNI account, shall be applied. The amount of redeemed/transferred electronic money is chosen by the Client.
    • No additional fee for electronic money redemption is applied. In the event of redemption of electronic money, the Client pays the usual commission fee for a money transfer or withdrawal which depends on the method of electronic money transfer/withdrawal chosen by the Client. Standard GNI commission fees for money transfer/withdrawal are applied.
    • Provided that the Client terminates the agreement and applies with the request to close its GNI account and delete its account from the system, or GNI terminates the provision of GNI account services to the Client and deletes Client’s account from the system in cases provided in the agreement, money held on the GNI Client’s account shall be transferred to the Client’s bank account or to the account in another electronic payment system indicated by the Client. GNI has the right to deduct from the repaid money the amounts that belong to GNI (fees for services provided by GNI and expenses which have not been paid by the Client, including but not limited to, fines and damages incurred by GNI due to a breach of the agreement committed by the Client, which have been imposed by international payment card organisations, other financial institutions and/or state institutions). In the event of a dispute between GNI and the Client, GNI has the right to detain money under dispute until the dispute is resolved.
    • In case GNI fails to repay the money to the Client due to reasons beyond the control of GNI, the Client shall be notified thereof immediately. The Client shall immediately indicate another account or provide additional information necessary to repay the money (execute a payment).
  • Usage of GNI account
    • The Client may manage the GNI account via the internet by logging in to its account with its login name and password.
  • to another user of the system;
  • to accounts in other electronic payment systems specified in the system.
    • After the Client has submitted a payment order to perform an international payment transfer, the supplement “Conditions of execution of international payment transfers” is applicable in addition to the present agreement.
    • Funds may be held on GNI account in different currency. Keeping funds in different currency, the Client undertakes responsibility for possible depreciation of money due to changes in exchange rates. Currency exchange is based on the exchange rate of GNI, which is valid at the moment of conversion and is constantly updated and published on its website.
    • Opening and maintenance of GNI account is free of charge, except for cases defined in the agreement and its supplements. If no operations have been performed on the account of the Client for at least a year GNI shall communicate to the Client in an agreed form that GNI:
      • may close its bank account due to inactivity;
      • applies commission and specify what commission is applicable;
      • upon Client’s request may close or transfer the account.
    • A bank or another electronic money transfer system may apply fees for transferring money from GNI Client’s account to the Client’s bank account, card or a payment account of another electronic payment system, as well as for transferring money from a bank account, card or another electronic payment system to GNI account. 
    • Fees for GNI’s services are deducted from the Client’s GNI account. In case the amount of money on the GNI account is less than the amount of the payment transfer and the price of the GNI service, the payment transfer is not executed. 
    • When a different than SEPA or TARGET2 transfer is performed and the Client transfers money from its GNI account to accounts in banks or other electronic payment institutions, GNI is indicated as the payer. Together with the payment transfer the recipient is given the following information which in dependence on technical options can be transferred in one or several of the below indicated ways:
  • In case the payer indicates incorrect data of the recipient and the payment order is executed according to the data provided by the payer (e.g. the payer indicates a wrong account number), it shall be considered that GNI has fulfilled the obligations properly and shall not repay the transferred amount to the payer. The payer shall directly contact the person, who has received the transfer, on the issue of returning the money.
    • The Client is obliged to provide a payment order for the execution of the payment transaction in accordance with the instructions specified in the system and valid at the moment of transfer. In case the Client is the recipient, it is obligated to provide detailed and precise information to the payer so that the payment order for the payment transaction in all cases complies with the instructions in the system and valid at the moment of transfer. Before sending a payment order for the execution of a payment transaction or sending information to another payer, the Client is required to check and update the instructions on filling in the account.
    • If the payer submits an incorrect payment order or indicates incorrect data for the payment transfer, but the payment transfer has not been executed yet, the payer may request to correct the payment order.
    • If GNI cannot credit funds indicated in the payment order to the recipient due to errors of the payer made in the payment order, but the payer requests to return the funds indicated in the payment order, the payment order may be cancelled and funds may be returned to the payer, but only under a written request of the payer and if the recipient agrees to return the funds to the payer (if the recipient can be identified). In such a case fees for cancellation of the payment order indicated in the system are applied.
    • In all cases, when GNI receives a payment order but funds cannot be credited due to errors in the payment order or insufficiency of information, and neither the payer nor the recipient has contacted GNI for specification of the payment order or return of the funds, GNI undertakes all possible measures to track the payment operation in order to receive accurate information and execute the payment order. To track the payment operation, the following measures may be used:
      • if GNI has contact details of the payer (email address or phone number), GNI contacts the payer for the payment order specification;
      • if GNI does not have contact details of the payer and neither the payer nor the recipient contacts GNI regarding the funds indicated in the payment order, GNI contacts the provider of payment services of the payer which has sent the funds indicated in the payment order with a request to contact the payer for the information specification. This measure is applied if there are possibilities to contact the provider of payment services of the payer by electronic means:
    • In all cases specified in article 5.13, the fee for specification of the payment order indicated in the system is applied by debiting it from the amount of the transfer before crediting the transfer to the account of the Client – recipient.
    • In case it is impossible to apply neither of the measures listed in clause 5.13 for tracking the payment operation and in other cases when it is still impossible to identify the recipient according to the indicated or corrected data, the funds are stored in GNI system until the payer or the recipient contacts and additional data allowing to credit the funds to the recipient is provided (after debiting the fee for specifying/correcting the payment order from the transferred amount before crediting it to the account of the Client – recipient). Such funds may also be returned to the payer under a written request of the payer. In this case the fee for returning the funds, which is indicated in the system, will be debited from the transferred amount before returning it to the payer.
    • The Client, having received money that has been credited to its GNI account by mistake or in other ways that have no legal basis, is obliged to notify GNI about it. The Client has no right to dispose of money that does not belong to it. In such cases GNI has the right and the Client gives an irrevocable consent to deduct the money from the its GNI account without the Client’s order. If the amount of money on the GNI Client’s account is insufficient to debit the money credited by mistake, the Client unconditionally commits to repay GNI the money credited by mistake in 3 (three) business days from the receipt of such request from GNI.
    • The Client has the right to change limits on payment transfers for the payment account by completing an additional account confirmation in accordance with the procedure established in the system and setting other limits for transfers that will come into force after 12 hours after the additional verification procedures. The Client may set the limits at his own discretion, however GNI has the right to limit the size of the limits. The Client may check the applied limits in the system. The Client will be notified about the limit’s entry into force by email.
    • The Client may check the account balance and history by logging in to the account. There is also information about all applied commission fees and other fees deducted from the account of the Client during a selected period of time.
    • The Client confirms that:
      • incoming funds on its GNI account are not obtained as a result of criminal or other illegal activity;
      • the Client will not use services provided by GNI for any illegal purposes, including actions and operations in order to legalise money received for a criminal or illegal activity.
    • The Client can manage the GNI account and perform payment operations from the GNI account:
      • via the internet, by logging in to its personal account;
      • by payment instruments linked to the GNI account (the supplement “Payment Instruments” is applied after the Client has agreed to conditions of the supplement);
      • by other instruments indicated by GNI after the Client has agreed to conditions of using such instruments. 
    • Client’s confirmations, orders, requests, notifications and other actions performed through websites of third persons or other places by logging in to its GNI account and identifying itself in this way are treated as conclusion of a deal confirmed by electronic signature.
    • Managing GNI account via the internet:
      • in order to execute a payment operation via the internet, the Client must fill in a payment order in the system and submit it for execution, electronically confirming in the system its consent to execute the payment order.
      • submission of the payment order in the system is an agreement of the Client to execute the payment operation and cannot be cancelled (cancellation of the payment order is only possible until the execution of the payment order has been started – status of the payment order and possibility of cancellation are visible on the account of the client).
      • in case the payment order has been filled in incorrectly, the payment transfer is not executed, unless GNI at its own initiative in exceptional cases corrects the payment order or has a sufficient amount of information to determine the correctness of information to execute the payment order under a regular procedure.
  • Reception of the payment order, requirements applied to the payment order and refusal to execute the payment order
    • Provided the Client is the payer, the payment order is considered received by GNI (calculation of the time period of execution of such payment order starts) on the day of its reception, or, if the moment of reception of the payment order is not a business day of GNI, the payment order is considered received on the nearest business day of GNI.
    • The payment order was received by GNI on a business day of GNI but not on business hours set by GNI, is considered received on the nearest business day of GNI.
    • Payment orders inside the GNI system are executed immediately (up to a few minutes, unless the payment operation is suspended due to cases set forth by legal acts and the present agreement), regardless of business hours of GNI.
    • GNI has the right to record and store any payment orders submitted by any of the means agreed on with GNI, and to record and store information about all payment operations performed by the Client or according to payment orders of the Client subject to the provisions of the Data Protection and Sensitive Data Storage Policies of GNI. Records mentioned in the present clause may be submitted by GNI to the Client and/or third persons, who have the right to receive such data under the basis set forth in the legislation, as evidence confirming the submission of payment orders and/or executed payment operations.
    • Payment orders submitted by the Client shall comply with requirements for submission of such payment order and/or content of the payment order set by the legal acts or by GNI. Payment orders submitted by the Client shall be formulated clearly, unambiguously, shall be executable and contain clearly stated will of the Client. GNI does not undertake responsibility for errors, discrepancies, repetitions and/or contradictions in payment orders submitted by the Client, including but not limited to, correctness of requisites of the payment order submitted by the client. If the payment order submitted by the Client does not contain enough data or contains deficiencies, GNI, regardless of the nature of deficiencies in the payment order, can refuse to execute such payment order, or execute it in accordance with data given in the payment order.
    • GNI has the right to refuse to execute a payment order in case of a reasonable doubt that the payment order has been submitted by the Client or a Client’s representative, payment order or the submitted documents are legitimate. In such cases, GNI has the right to demand from the Client to additionally confirm the submitted payment order and/or submit documents confirming the rights of persons to manage the funds held on the account or other documents indicated by GNI in a way acceptable to GNI at expense of the Client. In cases mentioned in this clause GNI acts with the aim to protect legal interests of the Client, GNI and/or other persons, thus, GNI does not undertake the responsibility for losses which may arise due to refusal to execute the submitted payment order.
    • The Client shall ensure a sufficient amount of money in a relevant currency on its account to execute the payment order. 
    • Before executing the payment, order submitted by the Client, GNI has the right to demand from the Client documents which prove the legal source of money related to the payment order together with any other documentation as per AML Policy and relevant AML laws. In case the Client does not submit such documents, GNI has the right to refuse to execute the payment order of the Client.
    • GNI has the right to involve third parties to partially or fully execute the payment order of the Client if the Client’s interests and/or the essence of the payment order require so. In the event that the essence of the payment order of the Client requires sending and executing the payment further by another financial institution, but this institution suspends the payment order, GNI is not responsible for such actions of the financial institution but makes attempts to find out the reasons for the suspension of the payment order. GNI has the right to suspend and/or terminate the execution of the payment order of the Client, if required by law or in case it is necessary for other reasons beyond control of GNI.
    • In case GNI has refused to execute the payment, order submitted by the Client, GNI shall immediately inform the Client thereon or create necessary conditions for the Client to get introduced to such notification, except when such notification is technically impossible or forbidden by legal acts. 
    • GNI shall not accept and execute payment orders of the Client to perform operations on the account of the Client if funds on the account are arrested, the right of the Client to manage the funds is otherwise legally limited, or in case operations are suspended by applicable legal acts.
    • If money transferred by the payment order is returned due to reasons beyond the control of GNI (inaccurate data of the payment order, the account of the recipient is closed, etc.), the returned amount is credited to the account of the Client. Fees paid by the payer for the payment order execution are not returned, and other fees related to the returning of money and applied to GNI can be deducted from the account of the Client.
    • . The manner of the payment transfer is selected by the Client. If the Client does not select the payment transfer manner, it is considered that the Client has initiated a standard payment transfer.
  • Providing and cancellation of the consent, cancellation of the payment order
    • The payment transaction is considered authorised only if the payer provides a consent. The consent for payment given to GNI intermediary is considered to be given to GNI. The Client (payer) may provide consent in the manner determined by GNI or agreed upon with the Client. The consent submitted in writing must be signed by the Client or his legal representative. The consent may also be confirmed by electronic signature, password, codes and/or other identity verification means. In all cases stipulated in this clause, the consent shall be deemed duly approved by the Client (payer), having the same legal validity as the paper document (the consent) signed by the Client (his representative), is permissible as a mean of proof in resolving disputes between GNI and the Client in courts and other institutions. The Client shall not be entitled to contest the payment operation executed by GNI if the payment order has been approved by the consent provided in the manner set out in this clause.
    • The consent of the Client (payer) is submitted prior to execution of the payment operation. Under an agreement between the Client (payer) and GNI the payment operation may be authorised, i.e. such consent of the Client may be given after execution of the payment operation.
    • The Client agrees that GNI will transfer personal data of the Client to persons directly related to execution of the payment operation, such as international payment card organisations, companies processing information about payments by payment cards, the provider of payment services of the recipient, the operator of the payment system for execution of the payment operation, intermediaries of the provider of payment services of the recipient and the recipient.
    • The procedure of cancellation of the payment order:
      • a payment order cannot be cancelled after GNI receives it, except for cases provided in the agreement or laws;
      • if the payment operation had been initiated by the recipient or via the receiver (e.g. a payment via a payment card), the payer cannot cancel the payment order after the payment order has been sent or the payer has given the consent to the recipient to perform the payment operation;
      • upon expiry of the terms stipulated in clauses 7.4.1-7.4.2 of the agreement, the payment order may be cancelled only in case the Client (payer) and GNI agree on this. In the cases stipulated in clause 7.4.2 of the agreement, the consent of the recipient is also necessary.
    • GNI has the right, but not an obligation, to check whether the unique identifier given in the payment order received by GNI corresponds to the name and surname (title) of the account owner. In case the mentioned unique identifier is given to GNI to debit money from or credit money to the account, the payment order is deemed executed appropriately if it has been executed by the indicated unique identifier. If GNI verifies the payment order and establishes an obvious discrepancy between the unique identifier provided to GNI and the name and surname (title) of the account owner, GNI has the right to refuse to execute such payment operation.
    • Provided GNI receives a payment order to transfer money to the payment account of another provider of payment services, such payment operation is performed by GNI according to the unique identifier provided in the received payment order – the account number of the recipient in IBAN format, except when the provider of payment services does not use the IBAN account format. GNI does not hold the responsibility if the unique identifier is not provided in the payment order or it is incorrect, and/or the provider of payment services of the recipient has set a different unique identifier for appropriate execution of such payment operation (crediting of money to the payment account of the recipient).
    • If necessary and/or required by institutions of another states, GNI has the right to receive an additional information (e.g. name and surname/title of the recipient, a payment code) required for the appropriate execution of the payment order.
    • When executing payment orders initiated by the client, GNI shall transmit to the payment service provider the information (including personal data of the Client) specified by the recipient in the payment order.
  • Prohibited Activities
    • Client using GNI services is prohibited from:
      • not complying with the terms of the agreement, the supplements to the agreement, legislation and other legal acts, including but not limited to, anti-money laundering and counters-terrorist financing acts;
      • violating the rights of GNI and third parties to trademarks, copyrights, commercial secrets and other intellectual property rights;
      • providing false, misleading or incorrect information to GNI; refusing to provide information or undertake other actions that are reasonably requested by GNI;
      • providing to third parties false, misleading or incorrect information about GNI and cooperation with GNI;
      • executing or receiving transfers of illegally acquired funds, if the Client is aware of or should be aware of it;
      • using services of GNI in a way which causes losses, responsibility or other negative legal consequences or damage to business reputation of GNI or third persons;
      • using GNI’s services from countries that are not acceptable to GNI;
      • spreading computer viruses and undertaking other actions that could cause system malfunctions, information damage or destruction and other damage to the system, equipment or information of GNI;
      • undertaking any other deliberate actions which could disturb provision of GNI’s services to the Client or third parties or proper functioning of the system;
      • organizing illegal gambling, illegal trading of stocks, indices, raw materials, currency (e.g. Forex), options, exchange-traded funds (ETF); providing of trade, investment or other services on currency exchanges, Forex markets and other electronic currency trading systems; engaging in illegal trades of tobacco products, alcohol, prescription drugs, steroids, weapons, narcotic substances and its attributes, pornographic production, unlicensed lottery, illegal software and other articles or products prohibited by the law;
      • without a prior written consent of GNI providing financial services and/or legally organising trading in stocks, indices, raw materials, currencies (e.g. Forex), options, exchange-traded funds (ETFs), providing trade, investment or other services on currency exchanges, Forex markets and other electronic currency trading systems. In case the Client intends to provide financial services using the account, it must have a valid licence, issued by a member state of the European Union or a third country that has imposed equivalent or substantially similar requirements and is monitored by the competent authorities with respect to compliance with these requirements;
      • without a prior written consent of GNI to organise legal gambling, lotteries, other specially licenced or activities requiring a permit. In case the Client intends to provide the indicated services using the account, it must have a valid licence, issued by a member state of the European Union and monitored by the competent authorities with respect to compliance with these requirements;
      • having more than one account; registering an account by fictitious or someone else’s name without having the power of attorney; registering an account using services of anonymous phone numbers or email addresses provided by other individuals or websites;
      • providing services that are prohibited by the law or contradict public order and moral principles;
      • logging in to the system as an anonymous user (e.g. via proxy servers);
      • disclosing passwords and other personalised safety features of payment instruments to third persons and allowing other persons to use services under the name of the client.
    • The Client shall reimburse all direct damages, fines and other monetary sanctions applied to GNI due to non-observance or violation of the terms, including but not limited to, clause 8.1 of the present agreement due to fault of the Client.
    • The Client is responsible and undertakes to reimburse any losses incurred by GNI, other GNI Clients and third parties due to using GNI’s services and violating the present agreement or its supplements by the Client.
  • Sending notifications by the parties, communication and consultation of Clients
    • The Client confirms that agrees that GNI notifications will be provided to the Client by placing them on the website of the system and by sending an email, which was indicated by the Client at the time of registration in the system, or by sending it to the address, indicated by the Client at the time of registration in the system, or by sending an SMS message in cases where the Client has indicated only a mobile phone number. The Client acknowledges that GNI notification, submitted in any of the above-mentioned ways, shall be deemed as properly provided. Notifications by post or SMS messages are sent only if the Client has not indicated its email address. If such notifications are not related to the substantive amendment to the agreement, it shall be deemed that the Client received the notification within 24 hours from the moment it was posted on the website of the system or sent to the Client by email or SMS message. If the notification is sent by post, it shall be deemed that the Client received it within 5 (five) business days after it was sent, unless the Client actually receives the notification later than in terms specified in this part of the agreement.
    • In case a party of the agreement consists of plurality of persons (holders of a joint account, etc.), GNI has the right to address notifications to any of the persons involved. The person who has received the information shall transmit the information to other persons indicated in the agreement.
    • In case GNI notification relates to essential amendments to terms of the agreement, the Client shall be informed 60 (sixty) days in advance. It shall be deemed that the Client has received the notification and the amendments to terms of the agreement come into force within 60 (sixty) days after the notification has been published on the website of the system, sent to the Client by email or via any other mean that had been indicated by the Client during registration (post or SMS message with a link to a respective web page).
    • The 60 (sixty) days notification period shall not be applied and notifications shall be provided in accordance with order laid down in clause 9.1, if:
      • the terms of the agreement are changed due to changes in mandatory requirements of the legislation;
      • the prices of services are reduced;
      • the prime cost of provided services increases which leads to increase in prices of GNI services;
      • a new service or a part of a service appears, which may be used or not used by the Client at its own choice.
    • Non-essential amendments of the agreement are style and grammar corrections, paraphrasing and moving a sentence, a clause or a section of the agreement for the sake of better understanding; provision of examples for articles and other changes which do not reduce or limit rights of the Client and do not increase liability of the Client or aggravate its situation.
    • The Client undertakes to check its email and other instruments for reception of notifications indicated on the account, as well as websites of the system, on a regular basis, i.e. at least once a business day, in order to notice notifications about amendments to the agreement in a timely manner.
    • All messages of the parties shall be sent in the acceptable language or in language in which the written agreement was presented to the Client to get introduced to.
    • The Client undertakes to publish on its account and, in case of amendments, immediately update the contact data (telephone number, email address and post address), which GNI could use to urgently contact the Client or Client’s representatives. In case the Client does not update the contact data on its account, all consequences due to the failure of GNI to submit notifications to the Client shall fall on the Client.
    • In order to protect funds of the Client from possible illegal actions of third persons, the Client undertakes to immediately inform GNI in writing about theft or loss of its account information.
    • The Client can receive a consultation regarding all issues related to the system and execution of the agreement by sending its question via email given on GNI website, contacting the Client support or filling in a request on the account. Client messages related to the present agreement shall be sent to the email address given on GNI website or to the GNI post address indicated in the agreement. All messages shall be sent to GNI regardless of who is the direct provider of GNI services defined in the agreement.
    • GNI shall notify the Client in advance, in accordance with the procedure stated in clause 9.1. of the agreement, about known and possible technical failures of the system and systems or equipment of third parties involved by GNI in provision of services, which have an impact on provision of GNI services.
    • GNI may change the solution for technical integration of services without constraint and at any time. Notification about any changes which require corrections in the software of the client shall be sent at least 90 (ninety) days in advance. Changes, required from the side of the Client, shall be made at expense of the Client.
    • The parties shall immediately inform each other about any circumstances significant for execution of the agreement. The Client shall submit documents confirming such circumstances (e.g. changes in name, surname, signature, address, phone number, other contact data, personal document or persons who have the right to manage funds on the Account, initiation of bankruptcy proceedings against the client, etc.), whether this information has been already transferred to public registers or not.
    • GNI has the right to demand the documents concluded abroad to be translated, legalised or confirmed with an apostille, except when legal acts state otherwise.
    • In case the Client has provided to GNI documents which do not comply with requirements set by the legal acts and/or GNI or GNI has reasonable doubts concerning the authenticity or correctness of the submitted documents, GNI has the right to refuse to execute payment orders submitted by the Client, suspend provision of other services and/or demand from the Client to submit additional documents.
    • The Client has the right to consult valid amendments to the agreement, its supplements and pricing on GNI website at any time.
  • Amendments to the agreement
    • GNI has the right to unilaterally amend and/or supplement conditions of the agreement according to procedure set forth in clauses 10.2-10.5 of the present agreement. 
    • The Client has no right to unilaterally change and/or amend the conditions of the agreement. 
    • In case the Client does not agree to amendments or supplements to the agreement, it has the right to refuse GNI services and terminate the agreement, notifying GNI thereof 30 (thirty) days in advance.
    • Using GNI services after the amendments or supplementation of conditions of the agreement have come into force shall deem that the Client agrees with the amendments or supplements of the conditions of the agreement.
    • Supplements to the agreement are amended according to the procedure laid down in the respective supplement. If no amendment procedure is laid down in the supplement, the procedure of amendment and amendment notification procedure stated in this agreement shall apply.
    • The parties may agree on additional conditions which are not provided in the agreement or supplements, or other conditions which are not stated in the agreement or supplement, by a separate written agreement. Such agreement shall become an integral part of the agreement. Upon a request of the Client, a draft agreement shall be prepared by GNI and sent to the Client by fax or email (the agreement may also be concluded in a form of a declaration). If the Client agrees with the draft provided, the Client shall sign the draft and forward the scanned copy of the document to GNI by fax or email. GNI has the right to require the Client to send the agreement by post with the original signature of the Client. Such agreement shall enter into force after the signed agreement has been sent to GNI, i.e. the signature of GNI on the agreement is not required and GNI is not obliged to send the signed agreement back to the Client.
  • Suspension of service provision. Termination of the agreement (deleting the account)
    • GNI, at its own discretion and taking at consideration the specific situation, giving preference to execution of legal acts, applied to the activity of GNI, and interests of the Client, has the right to unilaterally and without a prior notice apply one or several of the following measures:
      • to suspend execution of transfers;
      • to suspend provision of all or part of services to the Client;
      • limit Client’s access to the account;
      • to detain the Client’s funds that are a matter of dispute;
      • to block the account (i.e. fully or partially suspend payment operations on the account) and/or the payment instrument (i.e. fully or partially prohibit to use the payment instrument);
      • to refuse to provide services;
      • to return arrested funds from the account of the Client to the primary sender of funds.
    • Measures indicated in clauses 11.1.1-11.1.7 of the agreement may be applied only in the following exceptional cases:
      • if the Client essentially violates the agreement or its supplements, or a real threat of essential violation of the agreement or its supplements by the Client arises;
      • if activities of the Client using GNI account have a potential to harm GNI business reputation;
      • if the Client fails to complete necessary identification procedures, or submit the required by GNI information, or observe the requirements set forth in section 8 of the agreement;
      • if due to further provision of services and activity of the Client, justified interests of third parties may be harmed;
      • if due to objectively justified reasons related to safety of funds on the account and/or the payment instrument, unauthorised or fraudulent use of money on the account and/or the payment
      • if GNI finds out about theft or loss of the payment instrument, suspects or finds out about illegal purchase or unauthorised usage of the payment instrument, also in case of facts or suspicions that personalised safety features of the payment instrument (including identity confirmation instruments) have become known or may be used by third persons, GNI has reasonable suspicions that funds or the payment instrument may be illegally used by third persons or the account and/or the payment instrument may be used for illegal activity;
      • if GNI receives substantiated information about liquidation of the Client or bankruptcy case;
      • in cases specified by legislation;
      • in other cases stated in the agreement or its supplements.
    • The measure, specified in clause 11.1.7 of the agreement, may be applied to the Client in the event that GNI has reasonable suspicions that the Client is engaged in fraudulent activities. In this case, at first the funds of the primary payers on the account of the Client are frozen and, if the Client does not perform the necessary actions (complete an additional identification procedure, provide the requested documents) or provide a reasoned explanation of the specified case in time, the frozen funds may be returned to primary payers. This measure is also applied in cases where GNI has a law enforcement order to return frozen funds to the primary payer.
    • The purpose of limitations set forth in clause 11.1 of the agreement is to protect GNI, other third persons and the Client from potential monetary sanctions, losses and other negative consequences.
  1. In case of reasonable suspicion by GNI that the account or GNI account of the Client has been hacked, GNI has the right to partially or completely suspend provision of services to the Client without prior notice. In such case, GNI will inform the Client about the suspension and provide further information on actions that have to be performed by the Client in order to resume provision of services to the Client.
    1. GNI cancels blockage of the account and/or payment instrument (or replaces it with a new payment instrument) when causes for blockage of the account and/or payment instrument cease to exist.
    1. The account and/or the payment instrument may be blocked at the initiative of the Client if the Client submits an appropriate request to GNI and informs GNI that the payment instrument of the Client has been stolen or lost, or funds on the account and/or the payment instrument are used or may be used illegally. GNI has the right to demand from the Client to later confirm the orally submitted request to block the account and/or payment instrument in written or another acceptable to GNI way. If the account and/or the payment instrument has been blocked at the initiative of the Client, GNI has the right to cancel blockage only after receiving a written request from the Client, unless the agreement states otherwise. GNI has the right to replace the blocked payment instrument with a new one.
    1. GNI is not liable for losses incurred by the Client due to suspension of service provision, blockage of the account and/or payment instrument or other actions if those actions have been performed in accordance with the procedures stated in the agreement or its supplements and under circumstances and on the basis specified in the mentioned documents. 
    1. Following the procedure set forth by the law, GNI has the right to withhold money of the payment operation for up to 10 (ten) business days or for a longer period of time stated by the law, the agreement or its supplement. 
    1. The Client has the right to terminate the agreement unilaterally without appealing to the court, notifying GNI thereof in writing 30 (thirty) calendar days in advance. If the Client terminates the agreement, the issued electronic money is returned to the Client by its chosen mean (indicated in the agreement) in accordance with the limits of payment transfers specified in the present agreement.
    1. GNI has the right to terminate the agreement and its supplements unilaterally and refuse to provide services without indicating the reason, notifying thereof the client 60 (sixty) days in advance by means provided in section 10 of the present agreement. GNI also has the right to terminate the agreement and its supplements unilaterally and refuse to provide services for the reasons stated in clause 11.2 of the present agreement, notifying thereof the Client 30 (thirty) days in advance by means provided in the present agreement.
    1. Under a request of GNI, the agreement and its supplements may be terminated immediately, in case no operations have been made on the account of the Client for more than one year.
    1. In case of termination of the agreement, GNI deducts from the account of the Client money amounts, payable for GNI services provided to the Client, also fines, forfeits, losses and other amounts paid to third parties or the state, which GNI has incurred due to the fault of the Client. In case the amount of money on GNI account (or accounts) of the Client is insufficient, the Client undertakes to transfer provided amounts to the account of GNI within 3 (three) business days covering all amounts indicated in the present clause. In case GNI regains a part of amounts paid to third parties, GNI undertakes to return the regained amounts to the Client immediately.
    1. Termination of the general agreement does not exempt the Client from appropriate execution of all liabilities to GNI that were applicable towards the Client before the termination.
    1. After terminating the agreement between GNI and the Client, the Client shall choose a mean for redemption of electronic money from the account of the Client. In case the identification level of the Client does not comply with the level necessary to redeem all electronic money, the Client shall choose another identification level and perform required actions to change the identification level. The Client agrees to perform actions necessary to redeem electronic money and understands that by such means GNI aims to reduce the risk of fraud and seeks to comply with anti-money laundering and other legal requirements.
    1. In case after terminating the agreement between GNI and the Client, the Client does not choose a mean for electronic money redemption and/or does not complete an additional identification procedure for increasing the limits, GNI may (but is not obligated to) redeem the electronic money of the Client by the mean of electronic money redemption which is available at the moment of redemption.
  2. Confidentiality and data protection
    1. The parties undertake to keep technical and commercial information of each other secret, except for publicly available information which has become known to them while executing the present agreement, and not transfer it to third parties without a written consent from the other party or its legal representatives. 
    1. The Client agrees for GNI (as a data controller) to manage its personal data with the following purposes:
      1. to provide payment services;
      1. provide service-related information the Client requests;
      1. for marketing purposes*, e.g. providing customised advertisements and sponsored content and sending promotional communications; assessment and analysis of GNI’s market, clients, products and services (including asking for Client’s opinions on GNI’s products and services, carrying out Client surveys, running competitions or promotions, as permitted by law);
      1. to understand the way people use GNI’s online services so that GNI can improve them and develop new content, products and services;
      1. to protect GNI’s interests before any court or any other institution;
      1. otherwise with Client’s consent.

* the Clients may opt out of direct marketing communications from GNI at any time. If it prefers not to receive GNI’s direct marketing communications, it shall inform GNI by sending an email to [email protected] or clicking on the opt-out link appearing in the newsletter.

  1. The parties shall take all reasonable measures to guarantee security of personal data received while executing the present agreement. GNI may disclose personal data to the following entities:
    1. companies that provide services for GNI;
    1. banks/companies that provide payment services;
    1. companies assisting with organising competitions/games/promotions;
    1. other carefully selected business partners;
    1. other parties, when so required under law or necessary in order to protect our legitimate interests.
    1. The period of storage of personal data related to payment transactions is 10 (ten) years from the relevant payment transaction, except when the legislation requires a longer period of data storage. Personal data not related to payment transactions shall bet kept for the period of 3 years.  After the period of personal data processing expires, GNI destroys personal data at its possession.
    1. The Client undertakes to protect and not disclose any passwords, created by it or provided to it under the present agreement, or other personalised security features of payment instruments to third persons and not to allow other persons to use services under the name of the Client. If the Client has not complied with this obligation and/or could but have not prevented it and/or performed such actions on purpose or due to own negligence, the Client fully assumes the loses and undertakes to reimburse the loses of other persons incurred due to the indicated actions of the client or its failure to act.
    1. In the event of loss of an account password or other passwords by the Client or the password/passwords are disclosed not due to the fault of the Client or GNI, or in case of a real threat has occurred or may occur to the account of the Client, the Client undertakes to change the passwords immediately or, if the Client does not have a possibility to do that, notify GNI thereof immediately (not later than within one calendar day) by means indicated in section 9. GNI shall not be liable for consequences that have originated due to the notification failure.
    1. After GNI receives the notification from the Client as indicated in clause 12.6, GNI shall immediately suspend access to the account of the Client and provision of GNI services until a new password is provided/created for the Client.
    1. GNI draws the attention of the Client to the fact that the email linked to the GNI account and also other instruments (e.g. mobile telephone number), which under Client’s choice are linked to its GNI account, are used as instruments for communication or identification of the Client, therefore, these instruments and logins to them shall be protected by the Client and any changes of the email and instruments must be reported to the GNI within 3 calendar days. The Client is completely responsible for safety of its email passwords and all the other instruments used by it and their login passwords. Passwords are secret information, and the Client is responsible for its disclosure and for all operations performed after the password used by the Client for a relevant account or another payment instrument is entered. GNI recommends to memorise passwords and not to write them down or enter in any instruments where they may be seen by other persons and to change passwords frequently (e.g. once in a few months).
    1. Issues of protection of the Client’s personal data are also regulated by the supplement to the agreement “Data Privacy Policy”, that is published in the GNI website and which the Client has read and undertakes to observe. 
    1. GNI has the right or a statutory obligation to transmit all collected important information (including personal data) about the Client, Client’s representatives and their activity to law enforcement institutions, state authorities (State Tax Inspectorate (VMI), Social Insurance Fund (SODRA), Financial Crime Investigation Service), and other financial institutions as well as supervisory authorities, if such duty is determined by the legislation, and in order to identify whether this agreement and relevant legislation have not been or will not be violated.
    1. The Client is informed that GNI might undertake necessary measures, including but not limited to, submitting requests to third persons directly or via third parties in order to determine identity of the Client and accuracy of other data submitted by the Client (KYC procedure).
    1. GNI points out that in all cases GNI operates only as a service provider for the Client, which sends money to the recipient under the request of the Client (money sender) and does not provide or offer any services to the recipient until it has become a Client of GNI.
  1. The Client is informed that its account number and personal data required for the payment transfer may be detected and displayed to another GNI user who intends to make a payment transfer to the Client if another GNI user enters a confirmed identifier of the Client (name, surname, bank account, email address).
  2. Liability of the parties
    1. Each party is liable for all fines, forfeits and other losses which the other party incurs due to violation of the agreement by the guilty party. The guilty party undertakes to reimburse direct damage incurred due to such liability to the affected party.
    1. The liability of the Parties is established in accordance with the laws and case law of the courts of the Republic of Lithuania. GNI is not liable for the Client’s losses resulted through the Client’s fault and/or from lawful actions of the Customer.
    1. Nothing in this Agreement shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.
    1. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation, unless otherwise expressly indicated in the laws
    1. GNI shall only be liable for direct damages caused by direct and essential breach of the agreement made by GNI, and only for damages which could have been foreseen by GNI at the time of breaching of the agreement;
      1. the amount of compensation for damages caused by violating the agreement by GNI shall not exceed the average of commission fees for the last 3 (three) months paid to GNI by the Client for provided services. This restriction is applied for the total amount of all violations of the month. In case the average of 3 (three) months cannot be calculated, the compensation cannot exceed EUR 2,000 (two thousand); 
      1. in all cases, GNI shall not be liable for non-receipt of profit and income by the Client, loss of reputation of the Client, loss or failure of Client’s business, and indirect damages;
      1. limitations of GNI liability shall not be applied if such limitations are prohibited by the applicable law.
      1. GNI does not guarantee uninterrupted system operation, because system operation may be influenced (disordered) by many factors beyond control of GNI. GNI shall put all efforts to secure as fluent system operation as possible, however, GNI shall not be liable for consequences originating due to system operation disorders if such disorders occur not due to the fault of GNI.
    1. The system may not operate due to reasons under control of GNI and GNI shall not provide any compensation for malfunctions which do not depend on the actions of GNI.
    1. Cases, when GNI limits access to the system temporarily, but not longer than for 24 (twenty-four) hours, due to the system repair, development works and other similar cases, and if GNI informs the Client about such cases at least 2 (two) calendar days in advance, shall not be considered system operation disorders.
    1. GNI is not liable for:
      1. money withdrawal and transfer from the GNI account and for other payment operations with funds held on the Client’s GNI account if the Client had not protected its passwords and identification instruments, and as a result they have become known to other persons, and also for illegal actions and operations of third persons performed using counterfeited and/or illegal documents or illegally received data;
      1. consequences arising after GNI legally terminates the agreement, cancels Client’s account or limits access to it, also after reasonable limitation/termination of provision of a part of the services;
      1. goods and services purchased using GNI account, and also for other party, which receives payments from the GNI account, not complying with terms of any agreement;
      1. for a failure to fulfil its own contractual obligations and damages in case it was caused due to GNI fulfilling duties determined by the law.
    1. The Client assures that all actions of the Client related to the execution of the agreement will comply with the applicable law.
    1. The Client is fully liable for correctness of data, orders and documents submitted to GNI.
    1. If the payment operation is executed in the currency of a member country to/from a foreign country or in the currency of a foreign country, the Client bears all the losses incurred due to the usage of a lost or stolen payment instrument; illegal acquisition of a payment instrument if the client had not protected personalised security features (including identity confirmation instruments).
    1. The Client bears any losses incurred due to unauthorised payment operations if the Client has suffered the losses as a result of acting dishonestly or due to its gross negligence or intentionally not fulfilling one or several of the duties indicated below:
      1. to comply with the rules regulating issuance and usage of the payment instrument provided in the present agreement or its supplements, when using the payment instrument;
      1. if the Client finds out about a loss, theft, illegal acquisition or unauthorised usage of the payment instrument, about facts and suspicions that personalised security features of its payment instruments have become known to or can be used by third persons, the Client shall notify GNI or the subject indicated by GNI immediately, in accordance with the rules regulating issuance and usage of the payment instrument provided in the present agreement and its supplements;
      1. to undertake all possible measures to protect personalised security features of the payment.
    1. The party is relieved from the liability for failure to comply with the agreement in case the party proves that the agreement has not been executed due to circumstances of force majeure which are proven in accordance with the procedure established by the law. The Client shall notify GNI about the force majeure in writing within 10 (ten) calendar days after the day of occurrence of such circumstances. GNI shall notify the Client about force majeure circumstances via email or websites of the system.
  3. Settlement of disputes between the client and GNI
    1. GNI aims to settle all disputes with the Client amicably, promptly and on terms acceptable to both parties, thus, in case of a dispute, clients are encouraged to firstly address GNI directly. Disputes are solved by negotiation. 
    1. The Client may submit any claim or complaint regarding services of GNI by sending a notification via email, calling the client support centre or sending a notification via the account.
    1. The complaint shall contain a reference to circumstances and documents that served as a basis for the complaint. If the Client bases its complaint on documents which GNI does not possess, the Client shall also submit such documents or their copies.
    1. Terms of consideration of claims and complaints of Clients:
      1. GNI shall examine Client’s claim or complaint and notify the Client about the decision not later than within 30 (thirty) days from the day of receipt, except when the legislation or other binding regulations related to provision of services of GNI (e.g. rules of international payment card organisations) indicate a different period of time.
      1. if GNI is not capable to provide the answer to the complaint of the Client within the time period specified in the clause 14.4.1, GNI shall inform the Client about the reasons and indicate the time period in which the answer shall be provided.
    1. Analysis of complaints of the client by GNI is free of charge.
    1. If the Client is not satisfied with the decision made by GNI, the Client has the right to use other legal remedies to protect its rights and submit claim to the Bank of Lithuania, contacts:
      1. E-mail: [email protected];
      1. Tel.: 8 5 268 05 01 (02).
      1. Address: Zirmunu str. 151, Vilnius, Lithuania.
    1. In case of failure to settle a dispute amicably or in other extrajudicial methods of dispute resolution specified in the clause 14.6 herein, the dispute shall be settled by the courts following the procedure established by the law. A court shall be chosen according to the location of GNI office.
    1. This agreement, its supplements, and relations of the parties that are not regulated by this agreement, including cases when a dispute between the client and GNI falls within jurisdiction of a court of another state, shall be construed and interpreted in accordance with the laws of the Republic of Lithuania.
  4. Final provisions
    1. Each party confirms that possesses all permissions and licences required under the applicable law that are necessary for the execution of the present agreement.
    1. Titles of sections and articles of the agreement are intended solely for convenience of the parties and cannot be used for interpretation of the provision of the present agreement.
    1. The parties are independently liable to the state and other subjects for fulfilment of all tax obligations. GNI shall not be liable for execution of tax obligations of the Client, calculation or transferring of taxes applied to the Client.
    1. GNI in all cases acts as an independent party of the agreement that shall not control or undertake liability for products and services which are paid for using GNI services. GNI does not undertake liability that the buyer, seller or another party will fulfil the terms of a bargain clinched with the Client.
    1. The Client does not have the right to assign its rights and obligations arising out of this agreement to third parties without a prior written consent from GNI. GNI reserves the right to assign its rights and obligations arising out of this agreement to third parties at any time without a consent from the Client if such transfer of rights and obligations does not contradict the legislation. GNI informs the Client on such assignment within 10 days after the assignment,
    1. If any provision of the agreement becomes invalid, other provisions of this agreement remain in force.
    1. The agreement shall come into force in accordance with clause 2.4 of the present agreement. The Client may save the text of the agreement at the time of registering in the system.
    1. This agreement is provided in the system in English language. The Client agrees that communication in English is acceptable.
    1. Links to websites given in the agreement and supplements regulating provision of separate services are integral part of this agreement and are applied to the Client from the moment it starts using the respective service.