the purpose of the Terms & Conditions is to establish general principles governing the relations between COLIBRIX LIMITED (hereinafter – COLIBRIX) and the Customer and stipulating the rights and obligations of the Parties arising from Services provided by COLIBRIX, insofar as not provided for by the Contract on Services (special provisions) between the Parties on the use of the services provided by COLIBRIX;
the Terms & Conditions shall be applicable to Payment Transactions as well as other Services, provided specific aspects are not stipulated in the Contract on Services between the Parties or in the relevant provisions for Payment Transactions or other services provided by COLIBRIX they are ambiguous so that disputes or differences arise between the Parties regarding the contents, form and performance of services provided by COLIBRIX;
the Terms & Conditions form an integral part of every legal transaction between the Parties, including in provision of Services regulated by Contract on Services, and shall be binding on the both Parties after the Customer has accepted them;
the Terms & Conditions are the document of crucial importance which shall be carefully examined by the Customer before the Customer decides to register its Personal Profile in the System and use Services provided by COLIBRIX. Before entering into business relationship with COLIBRIX, the Customer shall confirm that it has read the Terms & Conditions in their entirety, agrees to them and admits them to be binding on it. Along with the Terms & Conditions, the relations between the Parties are governed by Contract on Services existing between the Parties, the Price List, as well as generally accepted fund transfer practices.
Agreement - an agreement between the Customer and COLIBRIX LIMITED consisting of these Terms & Conditions and a registration form completed by the Customer at the moment of registration of Personal Profile in the System. The Agreement may also include amendments to the aforementioned documents if such are issued by COLIBRIX.
Application - a mobile software linked with the Personal Profile supported by the System, installed and used on a mobile device which belongs solely to the Customer
Authorization - Customer’s granting of permission to the System for the provision of Services in the interests of the Customer, where the Customer identifies itself in the following ways:
a) accessing the Personal Profile installed on the Customer’s mobile device and providing its Personal identification number (PIN);
b) accessing the Personal Profile, providing its User ID, Password and Authorization code
Authorization code - a combination of numbers provided by COLIBRIX as an sms text message sent by COLIBRIX to Customer’s mobile phone number each time when Customer is participating in the Payment Transaction and/or accessing Customer’s Account by using Website, or other confirmation
Beneficial owner - a natural person who owns or controls, directly or indirectly, at least 25% of the Customer’s capital or voting shares or who exercises control in relevant manner, as well as owner of the funds held in the account, or a natural person in whose interest transactions are made
Business day - a day when COLIBRIX provides its services, set by COLIBRIX. COLIBRIX can set different business days for different services
Customer - a natural (private) or legal person or their authorized Representative who has registered in the System by creating a Personal Profile, including a person who has the intention to enter into a business relationship with COLIBRIX
Customer’s account - international account number that is assigned to every Customer when creating a Personal Profile and complies with the international standard of International bank account number (IBAN). IBAN is used to make Payment Transactions and receive other Services
Customer’s account remote administration - remote administration of the Customer’s Account by using the Application or Website
Customer’s account statement - a summary of transactions effected in the Customer’s Account over a certain period of time
Customer identification - Customer’s identity verification under the procedure specified by these Terms & Conditions and the System requirements
Commission fee - remuneration set in the Price List, which COLIBRIX levies on Services delivered by COLIBRIX. A commission fee may also be included in a Contract on Services with the Customer or in the Price List approved by the Customer
Consent - an exhaustive consent of the Customer to use the Services, which is given in the form of Authorization or other authorization tools allowed by COLIBRIX. A Consent, which is confirmed as described herein, shall be treated as having been fully confirmed by the Customer, and such a Consent shall have the same legal force and effect as a document signed in own hand by the Customer and shall be considered as a sufficient proof in dealing with any possible disputes between COLIBRIX and the Customer
Contract on services - an agreement between COLIBRIX and the Customer on the provision and use of separate Services provided by COLIBRIX. These Terms & Conditions form an integral part of the Contract on Services unless foreseen otherwise by the latter
Penalty - penalty for non-payment of fees due from the Customer to COLIBRIX not exceeding the established maximum by the regulatory enactments of the United Kingdom per day from the amount not paid in due time
Electronic money - money credited/transferred to and held on the Customer’s Account for executing Payment Transactions in the System
Funds reservation - Customer’s funds being made unavailable to the Customer based on the reservation from Recipient
Party - COLIBRIX or the Customer. If required, might be used in plural within the context of the Agreement
Password - a combination of numbers and letters created in the System and provided to the Customer initially by COLIBRIX when accessing the Services by Website
Payer - a natural (private) or legal person who submits a Payment order on behalf of the Customer
Payment - a Customer who submits a Payment Order using System
Payment Instrument - any personalized device and/or procedures agreed by Parties by which the System allows to link to the Customer’s Account and initiate a Payment Order
Payment transaction - Payment or Withdrawal initiated by the Customer or on his behalf or a Recipient
Payment order - an order from the Payer or the Recipient to COLIBRIX to execute a Payment Transaction
Personal data - any information relating to an identified or identifiable natural person directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier, etc.
Personal profile - the result based on data provided at the moment of registration in the System, during which the Personal Data are processed and the rights of the Customer in the System are defined
Personal identification number (PIN) - a combination of numbers created by Customer when registering in the Application, and which is used unambiguously for identification of the Customer participating in the Payment Transaction and/or access to the Customer’s Account used in the Payment Transaction. The PIN code can be changed at any time by the initiative of Customer
Price list - prices for Services and operations available www.COLIBRIX.uk
Recipient - a natural (private) or legal person indicated in the Payment Order as a recipient of the Payment
Representative - person having the relevant rights assigned by statute, proxy or otherwise to represent the Customer
Service - electronic services offered by COLIBRIX which includes:
- Services enabling cash placement on a Customer account
- Services enabling cash withdrawals from a Customer account
- Execution of payment transactions where funds are not covered by a credit line
- Execution of payment transactions where funds are covered by a credit line
- Issuing payment instruments or acquiring payment transactions
- Money remittance
- Issuing Electronic Money;
- as well as other services offered by COLIBRIX
System - a software solution provided by COLIBRIX through the Website or Application, developed by COLIBRIX and used for providing Services
Top-up - section in Customer’s Personal Profile for adding money to Customer’s Account using a Customer’s owned payment card or by bank transfer
User ID - a unique combination of numbers which COLIBRIX, as a provider of Services, provides to the Customer of Payments services, and which is used unambiguously for identification of the Customer when accessing Personal profile through Website or Application
COLIBRIX – COLIBRIX LIMITED, reg. No. 12578874, with registered office at Warnford Court, 29 Throgmorton Street, London, England, EC2N 2AT, registered in the Companies House of United Kingdom, e-mail info@COLIBRIX.io, licensed as an authorized electronic money institution, license No. 927920, issued on 21/12/2020 by the Financial Conduct Authority (https://www.fca.org.uk), its branches and representative offices or other affiliated companies, in dependence on the country of residence of the Customer, and other legal persons which may be involved by COLIBRIX LIMITED for provision of Services and which may be authorized to act on behalf of COLIBRIX LIMITED. All Services in the COLIBRIX System will be provided entirely by COLIBRIX LIMITED.
Withdrawal - Payment Transaction, whereby the Customer can receive cash by administering its Payment Instrument accordingly
FATCA - Foreign Account Tax Compliance Act. This United States tax legislation is aimed at identifying U.S. persons that hold account(s) or financial assets outside of the United States.
U.S. Person means a U.S. citizen or resident individual, a partnership or corporation organized in the United States or under the laws of the United States or any State thereof, a trust if:
- a court within the United States would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust; and
- one or more U.S. persons have the authority to control all substantial decisions of the trust, or an estate of a decedent that is a citizen or resident of the United States.
CRS - Common Reporting Standard issued by the Organization for Economic Co-operation and Development (OECD), under which countries that have signed an international agreement exchange tax payer information between jurisdictions.
TIN means Taxpayer Identification Number (or functional equivalent in the absence of a Taxpayer Identification Number).
Passive income – dividends, interest, rent, royalties, payments from life insurance, certain other insurance income, profits from the sale of assets that provide passive income, profits from commodity sales, foreign exchange earnings and profits from derivatives.
Related Legal Entity – a Legal Entity is a Related Legal Entity of another Legal Entity if either Legal Entity controls the other Legal Entity, or the two Legal Entities are under common control. For this purpose control includes direct or indirect ownership of more than 25% of the vote or value in a Legal Entity.
Politically exposed person (PEP) – a natural person who is or was during the past 12 months, entrusted with prominent public functions in the United Kingdom, the European Union, international or foreign state institutions as well as close members or close assistants of such person:
- Head of State, Heads of Government, minister, vice minister and deputy minister, secretary of the State, chancellor of Parliament, Government or Ministry;
- Member of the Parliament;
- Member of the Supreme Courts, the Constitutional Courts or any other judicial authority, against whose decisions there is no judicial remedy;
- Mayor of the municipality, municipality administration director;
- A member of the management body of the Supreme State Audit and Control Office or the Central Bank Chairman, Deputy Chairman or a member of the Management Board;
- An Ambassador, Chargés d‘affaires ad interim, The Chief of Defense of the United Kingdom, Commanders of the armed forces and units, Chief of Defense Staff or Senior Officer of Armed Forces of Foreign Countries;
- A member of the management or supervisory bodies of state enterprises, public limited liability companies and private limited liability companies whose shares or a part of shares carrying more than 1/2 of all the votes at the general meeting of shareholders of these companies are held by the right of ownership by the State;
- A member of the management or supervisory bodies of municipal enterprises, public limited liability companies and private limited liability companies whose shares or a part of shares carrying more than 1/2 of all the votes at the general meeting of shareholders of these companies are held by the right of ownership by municipalities and which are considered to be large undertakings under the Law of the United Kingdom on Financial Reporting by Undertakings;
- Leaders or deputies of an international intergovernmental organizations, Member of the Management or Supervisory body (international intergovernmental organizations could be United Nations, Council of Europe, Institution of European Union, Organization for Security and Co-operation in Europe, NATO and others);
- Head, deputy head or member of the management body of political party.
- A natural person who, together with the person who is/was entrusted with the above mentioned prominent public functions, participates in the same legal entity or maintains other business relations;
- A natural person who is the only owner of the legal entity set up or operating de facto with the aim of acquiring property or another personal benefit for the person who is/was entrusted with the above mentioned prominent public functions.
Close family members – the spouse, the person with whom partnership has been registered (hereinafter referred to as the “cohabitant”), parents, brothers, sisters, children and children’s spouses, children’s cohabitants.
Tax residence country – a country under whose laws and regulations the Customer shall be considered a tax resident of that country based on the location of the Customer, the Customer’s place of living/incorporation, or based on any other criteria which pursuant to the national law of the relevant country serves as the basis for considering the Customer as a resident for tax purposes in that country.
Beneficial owner – any natural person who ultimately owns or controls the customer and/or the natural person on whose behalf a transaction or activity is being conducted and includes at least:
- in the case of legal entities:
- the natural person who ultimately owns or controls a legal entity through direct or indirect ownership of 25 % or more of the shares or voting rights or ownership interest in that entity, including through bearer shareholdings, or through control via other means, other than a company listed on a regulated market that is subject to disclosure requirements consistent with Union law or subject to equivalent international standards. A shareholding of 25 % plus one share or an ownership interest of more than 25 % in the customer held by a natural person shall be an indication of direct ownership. A shareholding of 25 % plus one share or an ownership interest of more than 25 % in the customer held by a corporate entity, which is under the control of a natural person(s), or by multiple corporate entities, which are under the control of the same natural person, shall be an indication of indirect ownership.
- if there no persons under point a) the natural person who holds the position of senior managing official must be identified;
- in the case of trusts:
- the settlor(s);
- the trustee(s);
- the protector(s), if any;
- the beneficiaries, or where the individuals benefiting from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up or operates; e) any other natural person exercising ultimate control over the trust by means of direct or indirect ownership or by other means;
- in the case of legal entities such as foundations, and legal arrangements similar to trusts, the natural person holding equivalent or similar positions to those referred to this Section
Senior Managing Official – the natural person(s) who has significant authority over a legal person’s financial relationships (including with financial institutions that hold accounts on behalf of a legal person) and the ongoing financial affairs of the legal person (eg. CEO, CFO, managing or executive director, or president).
Terms and conditions
1. Registering And Use Of Personal Profile
1.1. Only the Customer who has completed an application for Personal Profile registration in the System and to whom a Customer’s Account has been assigned and who has simultaneously become acquainted with the Terms & Conditions of the Agreement and expressed its consent to comply with them, is entitled to use the Services offered by COLIBRIX in the System.
1.2.Prior to registration in the System and entering into the Agreement, the Customer shall confirm it complies and will always comply with the following criteria during the validity of the Agreement:
1.2.1. the Customer is a private individual or Representative of the legal entity;
1.2.2. the Customer is at least 18 years old;
1.2.3. pursuant to a judgment that has taken effect, the Customer does not have limited legal capacity due to disorders of mental nature;
1.2.4. The Customer shall acknowledge that, at the time of applying for Personal profile and at the moment of entering into the Agreement, he is fully legally capacitated and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances;
1.2.5. the Customer or its Beneficial Owner, if the Customer is a legal entity, is the ultimate beneficiary of the funds held in the Customer’s Account and the funds involved in the Payment Transactions are of legal origin and are not acquired as the result of a criminal offence, either directly or indirectly, or related to financing of terrorism or an attempt of such activities.
1.3. The Customer has provided correct data when completing the application and registering the Personal Profile in the System and, if there is a need for changing or adding data, the Customer will submit correct data only. The Customer shall bear any losses that may occur due to submission of invalid data. The Customer is entitled to register one Personal Profile.
1.4. In order for COLIBRIX to start the provision of Services, the Customer shall choose the appropriate Services that the Customer is intended to receive and additionally to Terms & Conditions of the Agreement shall confirm corresponding provisions of Contract on Services. The Customer identification procedure is performed according to the provisions of these Terms & Conditions, Contract on Services or established in the System.
1.5. Access to and use of the Personal Profile is possible when COLIBRIX has appropriately identified the Customer by means of identification indicated at the moment of submission of an application for Personal Profile registration. The Customer shall be entitled to change certain data used for access to the Personal Profile and Customer’s Account in compliance with the procedures foreseen in the System.
1.6. The Parties agree that Customer can confirm (sign) documents (e.g. agreements, consents, personal identification documents) by electronic means with a qualified electronic signature, having legal force in the European Union.
1.7. The Customer will receive a confirmation on registration of Personal Profile and opening of Customer’s Account via email address, which has been indicated when completing the application and registering the Personal Profile in the Webpage. If the Customer has used Application for registration of Personal Profile, the Customer will see the confirmation in Customer’s Personal Profile.
1.8. COLIBRIX is entitled to refuse registration of Personal Profile for a new Customer in the System without giving a reason for refusal.
1.9. The registration may be refused and Customer may be blocked, suspicious operations may be invalidated and the information may be transmitted to law enforcement institutions, if necessary.
2. Customer Identification
2.1. COLIBRIX is obliged to carry out the identification of the Customer by obtaining information and proof of identification on the Customer, Beneficial Owners (where applicable) and the Representatives (where applicable) in the following circumstances:
2.1.1. For Customers registered through Application:
18.104.22.168. when the Customer applies for Personal Profile and is assigned a Customer’s Account, the identification is performed by information provided by the Customer in the application form, in particular, name, surname, date of birth, mobile telephone number, e-mail address for communication and other information required;
22.214.171.124.if annual turnover of the Customer’s Account is anticipated to be up to EUR 1000.00 (on thousand euro), the Customer shall ensure that the first payment into the Customer’s Account is made from Customer’s bank account opened with a credit institution registered in a country to which the requirements arising from the European Union/European Economic Area (EEA) legislation for the prevention of money laundering and terrorism financing apply;
126.96.36.199.if annual turnover of the Customer’s Account is anticipated to exceed EUR 1000.00 (on thousand euro), the identification will be performed by on-line identification methods, using the application in-built interface and verifying such identification documents as valid passport or ID card as well as the photo contained therein with the real face of the Customer and source of funds/wealth.
For Customers registered through Website:
188.8.131.52.when the Customer applies for a Personal Profile on Website and is assigned a Customer’s Account, the identification is performed by information provided by the Customer in the application form (name, surname, date of birth, mobile telephone number, e-mail address for natural (private) person and company name, legal form of the entity, Representative’s name, surname, date of birth, representation rights (sole or joint representation) for legal entity). At the same time, the Customer shall complete the Customer’s questionnaire, which shall be signed by Customer’s Representative and sent to COLIBRIX in scanned form by email and original by post;
184.108.40.206.the identification will be performed by on-line identification methods, using video connection and verifying such identification documents as a copy of registration certificate, Articles of Association, document certifying the right of signature, valid passport, ID or residence permit for Representative of legal entity or actual printout from the business register certifying the right of signature and good standing of the company or the power of attorney to a third party for representing the Customer. The verification of the above-mentioned identification documents will be carried out on-line, which includes comparing the photo contained therein with the real face of the Customer;
220.127.116.11.Legal entities apply for a Personal Profile only on Website.
2.2.The power of attorney, if any presented, shall be notarized and apostilled if required by UK law. The power of attorney submitted to COLIBRIX shall be considered effective until revoked by the Customer or until its natural maturity.
2.3.In order to identify the Customer adequately, COLIBRIX may, at its sole discretion, at any time request the Customer to submit documents or information confirming the Customer's identity and unilaterally determine any additional requirements for the Customer’s identification and/or Beneficial Owners (if applicable), origin of funds and other equivalent requirements. COLIBRIX has the right to demand additional information and/or documents related to the Customer or operations executed by the Customer, and request the Customer to fill in and periodically (at least once a year) update the Customer's questionnaire. COLIBRIX has the right to request copies of the documents certified by a notary and/or translated into at least one of the languages acceptable to COLIBRIX. All documents and information are prepared and provided at the expense of the Customer. If the Customer does not provide additional information and/or documents within a reasonable time set by COLIBRIX, COLIBRIX has the right to suspend the provision of all or a part of the Services to the Customer.
Establishing Business Relationship And Entering Into Agreement
3.1. COLIBRIX shall have the right to choose, at its sole discretion, the circle of persons and entities (Customers) with whom to enter into a business relationship – offer Services or enter into the Agreement and Contract on Services. COLIBRIX reserves the right not to offer a person or entity any Services, enter into the Agreement or any Contract on Services, or comply with any instructions if the person or entity:
- has deliberately furnished COLIBRIX with any false or insufficient information (incl. any documents) or refuses to furnish the information required by COLIBRIX;
- has not furnished, upon COLIBRIX’s request, relevant and sufficient information (incl. any documents) necessary for due identification of that person or entity or for determination of that person’s or entity’s representation rights, as well as if the submitted documents do not satisfy the requirements laid down by COLIBRIX;
- has failed to discharge its obligations to COLIBRIX or any of its affiliated companies;
- has caused or may cause any direct/indirect loss or injury to the interests of COLIBRIX or its affiliated companies through any act or omission, direct or indirect, by that person or entity;
- has not furnished, upon COLIBRIX’s request, relevant and sufficient information (incl. any documents) about the origin of funds or suspicion exists about the person’s or entity’s potential connection with money laundering or terrorist financing;
- is or has been connected with, or reasonable suspicion exists about his/her connection with, organized crime, money laundering and/or terrorist financing according to information obtained by COLIBRIX from public sources (for instance, data bases, state authorities, international organizations, media);
- holds or has held significant positions in a country against which sanctions and/or restrictions are imposed by international organizations or by separate countries, or national sanctions of the United Kingdom, or the person is a subject of such sanctions;
- if, according to information at COLIBRIX’s disposal, the person or entity is active in an area which has an inherent high risk of money laundering or terrorist financing or performs certain operations without being duly registered or licensed to do so;
- COLIBRIX is in possession of information about the Customer’s reputation which may have a direct or indirect impact on the Services or may cause unfavourable implications for COLIBRIX or its affiliated companies.
3.2.COLIBRIX reserves the right to refuse to enter into business relationship and enter into the Agreement with a person or entity also in other cases not set out in preceding Section hereof if, in the opinion of COLIBRIX, there exists other material reason, especially material obstacles to commencing a business relationship.
3.3.The Customer shall ensure that all funds entering the Customer’s Account are of legal origin and if the Customer is not informed of the origin of funds that have entered her/his Account or if any doubt arises to the Customer about the legality thereof, the Customer shall promptly notify COLIBRIX thereof.
3.4.The Customer is prohibited from using the Customer’s Account or other Services for conducting any unlawful activities, including for money laundering or terrorist financing related operations, as well as for any activities aimed at circumventing international sanctions or prohibitions, or national sanctions or prohibitions of the United Kingdom.
3.5.COLIBRIX shall have the right to suspend execution of Services or Payment Transactions for a time period as may be necessary for obtaining and assessing the information and documents, for fulfilment of requirements of legislation governing the area of anti-money laundering and counter-terrorist financing or other legislation, as well as the requirements or restrictions imposed by correspondent credit/payment institutions.
3.6.When the Customer has completed an application at the time of registration of Personal Profile through Application and has read and accepted the Terms & Conditions by ticking the appropriate checkbox, and COLIBRIX has created Customer’s Personal Profile, these Terms & Conditions enter into effect and shall be valid until both Parties have fulfilled their financial and other obligations pursuant to the Agreement. In case the Customer is a legal entity, the Customer by signing questionnaire confirms that Customer agrees with these Terms & Conditions.
3.7.The Customer shall receive a notification about entering into the Agreement to the email address that has been indicated in the application when registering the Personal Profile on the Website. Both parties explicitly provide their consent that place of signing of the Agreement is London, United Kingdom.
3.8.By entering into this Agreement, the Customer also accepts the Price List, which is available on Website.
3.9.In case the Customer which is a consumer according to UK legislation does not agree with the Price List, it is entitled to terminate the Agreement according to the provisions established in this Agreement.
Customer’s Account Maintenance
4.1.The Customer’s Account is opened for the Customer in the System for an indefinite period of time.
4.2.The Customer’s Account may be a multicurrency account. The principal currency of the Customer’s Account is GBP, into which COLIBRIX converts all currencies not specified by the Customer as the permitted currencies at the end of the day at the COLIBRIX’s exchange rate in force. Balances of principal currencies of the Customer’s Account and permitted currencies of the Customer’s Account are included in a Customer’s Account statement. COLIBRIX Commission Fees are deducted always in GBP.
4.3.The Customer’s Account may be used by the Customer to deposit, transfer, keep funds in the Customer’s Account, as well as to receive money to the Customer’s Account, settle for goods and services, currency exchange and perform other operations directly related to funds transfers. All COLIBRIX Services may only be used by Customers who have registered a Personal Profile and undergone the identification procedures in accordance with the provisions established by these Terms & Conditions and the requirements of the System.
4.4.Money held on the COLIBRIX Customer’s Account is considered Electronic Money which COLIBRIX issues after the Customer transfers money to Customer’s Account. After the Customer transfers money to its Customer’s Account and COLIBRIX receives the money, COLIBRIX credits it to the Customer's Account, at the same time issuing Electronic Money at the nominal value. The Electronic Money is credited to and held on the Customer’s Account.
4.5.The specific method of transferring funds to the Customer’s Account is selected by the Customer in the Personal Profile by selecting the "Top-up" function, which contains instructions for depositing money for each method of Payment.
4.6.The nominal value of Electronic Money coincides with the value of money transferred to the Customer’s Account (after deduction of standard Commission Fee applicable to a particular payment method).
4.7.Electronic Money held on the Customer’s Account is not a deposit and COLIBRIX does not, in any circumstances, pay any interest for Electronic Money held on the Customer’s Account and does not provide any other benefits associated with the time period the Electronic Money is stored.
4.8.At the request of the Customer, Electronic Money held on Customer’s 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 Customer’s Account.
4.9.The Customer submits a request for redemption of Electronic Money by generating a Payment Order to transfer Electronic Money from Customer’s Account to any other account specified by the Customer (with a credit institution or electronic payment systems to which COLIBRIX can transfer money) or withdraw Electronic Money from Customer’s Account by other methods supported by COLIBRIX and indicated in the System. COLIBRIX has the right to apply limitations for redemption of Electronic Money.
4.10.No specific conditions for Electronic Money redemption that would differ from the standard conditions for transfers and other Payment Transactions performed on the COLIBRIX account shall be applied. Only freely accessible amount of Electronic Money on Customer’s Account can be redeemed/transferred.
4.11.No additional fee for Electronic Money redemption is applied. In the event of redemption of Electronic Money, the Customer pays the usual Commission Fee for a money transfer or withdrawal which depends on the method of Electronic Money transfer/withdrawal chosen by the Customer. Standard COLIBRIX Commission Fees for money transfer/withdrawal as established by the Price List are applied.
4.12.If the Customer terminates the Agreement and applies to COLIBRIX with a request to close Customer’s Account and deactivate its Personal Profile from the System, or COLIBRIX unilaterally terminates the provision of Services to the Customer and deactivates the Personal Profile of the Customer from the System in cases provided in the Agreement, money held on the Customer's account shall be transferred to the Customer's account opened with another credit institution or payment service provider indicated by the Customer or shall be transferred to the temporary account of COLIBRIX until further instructions from the Customer. COLIBRIX has the right to deduct from the repaid money the amounts that belong to COLIBRIX (Commission Fees for Services provided by COLIBRIX and expenses which have not been paid by the Customer, including but not limited to, fines and damages incurred by COLIBRIX due to a breach of the Agreement committed by the Customer, which have been imposed by international payment card organizations, other financial institutions and/or state institutions). In the event of a dispute between COLIBRIX and the Customer, COLIBRIX has the right to detain money under dispute until the dispute is resolved.
4.13.In case COLIBRIX fails to repay the money, described in preceding Section, to the Customer due to reasons beyond the control of COLIBRIX, the Customer shall be notified thereof immediately. The Customer shall immediately indicate another account or provide additional information necessary to repay the money (execute a payment).
Usage of Customer's Account and Payment Order
5.1.The Customer may manage the Customer’s Account remotely.
5.2.The Customer can manage the Customer’s Account and perform Payment Transactions from the Customer’s Account:
- via the Website by logging into its Personal profile;
- via the Application.
5.3.Payment Transfers from the Customer’s Account may be executed:
- to another user of the System;
- to the Single European Payment Area (SEPA) payment system members;
- to SWIFT accounts if the Customer is eligible for such Service;
- to accounts with other payment institutions specified in the System.
5.4.A Payment Transaction is considered authorized only if the Payer provides a Consent.
5.5.The Consent of the Customer (Payer) is submitted prior to execution of the Payment Order. Pursuant to the provisions of Contract on Services in some cases the Consent issued by the Customer to COLIBRIX for the Services requiring the Consent of the Customer may be given after execution of relevant Payment service.
5.6.The Customer is obliged to provide a Payment Order for the execution of the Payment Transaction in accordance with the instructions specified in the System and is valid at the moment of Payment Transaction. In case the Customer is the Recipient, the Customer is obliged 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 Customer is required to check and update the account details.
5.7.COLIBRIX shall have the right to set requirements in respect of provision of certain information (e.g. transfer amount, currency, Recipient’s name, legal name, or address, payment codes (such as S.W.I.F.T., BLZ, ABA, Sort Code), as well as other necessary information) that the Payer must provide in order for COLIBRIX to be able to cause due execution of the Payment Order. Requirements as to information are given in the Payment Order form, these Terms & Conditions, Contract on Services, Price List, Application or Website or by sending the Customer a separate notice concerning submission of the required information.
5.8.In case of transfers to credit institution accounts or payment systems not in SEPA countries and if COLIBRIX is indicated as a Payer, together with the Payment, the Recipient is also provided with information, which, depending on technical capabilities, can be provided by one or more of the following methods:
- detailed information about the Payer-Customer is given in the field of the primary Payer provided it is supported by the relevant e-banking or payment system;
- detailed information about the Payer-Customer is given in the field of payment purpose;
- along with the Payment the Recipient is given a link to a Website where the detailed information about the payment and the Payer is provided.
5.9.In order to execute a Payment via Website, the Customer shall fill a Payment Order in the System via its Personal Profile and submit it for execution, electronically confirming by Authorization code.
5.10.In order to execute a Payment by using the Application, the Customer shall fill a Payment Order in the System and submit it for execution, electronically confirming by PIN.
5.11.Submission and electronical confirmation of the Payment Order in the System is an agreement of the Customer to execute the Payment Transaction and cannot be cancelled. A Payment Order cannot be cancelled after COLIBRIX receives it by means of Customer’s Account remote administration. Cancellation of the Payment Order is only possible until the execution of the Payment Order has been started before confirming it electronically.
5.12.In case the amount of money on the Customer’s Account is insufficient to execute the Payment, the Payment is not executed, however, the System will attempt executing the Payment Order after the Payment Order receipt, should the Customer choose such option. If the amount of money on the Customer’s Account is insufficient in one currency, but there is a sufficient amount of money in another currency, the Payment Transaction shall not be executed until the Customer converts the other currency to the currency of the payment, except for cases, when the Customer has ordered an automatic currency exchange feature.
5.13.In case, when Customer’s account gets overdrawn as a result of Payment Transaction initiated by the Customer or related Commission Fees or Penalties applied by COLIBRIX, the Customer is obligated to reimburse the outstanding balance by topping up his Customer’s account immediately.
5.14.COLIBRIX shall have the right to transfer funds to the Recipient also based solely on the Recipient’s Account number specified in the Payment Order even if the Recipient’s name (incl. first name and surname) in the Payment Order does not match the indicated account number. COLIBRIX shall have the right but not an obligation to check whether the Recipient’s account number given in the Payment Order matches the Recipient specified in the Payment Order. COLIBRIX reserves the right not to execute a Payment Order if it has well-grounded doubts as to correspondence between the name of the Recipient and the Recipient’s account number contained in the Payment Order. The Payer shall directly contact the person who has received the transfer on the issue of returning the money.
5.15.In case when it is still impossible to identify the Recipient according to the indicated or corrected data, the funds are stored in the COLIBRIX 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 Customer’s Account of the 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.
5.16.If the Payer submits an incorrect Payment Order or indicates incorrect data for the Payment, but the Payment has not yet been executed by COLIBRIX, the Payer may request to correct the Payment Order. In this case the Commission Fee indicated in the Price List for the correction of the Payment Order might be applied.
5.17.The Customer, having noticed that money has been credited to its Customer’s Account by mistake or in other ways that have no legal basis, is obliged to notify COLIBRIX thereof. The Customer has no right to dispose of money that does not belong to Customer (in such cases COLIBRIX has the right and the Customer gives an irrevocable consent to deduct the money from its Customer’s Account without the Customer's Authorization).
5.18.If a credit institution or another electronic money transfer system applies fees for transferring money from the Customer's Account to the Customer's account with credit institution, card or a payment account of another electronic payment system, as well as for transferring money from a credit institution account, card or another electronic payment system to the Customer’s Account, the actual expenses shall be covered by the Customer.
5.19.Opening and maintenance of the Customer’s Account is charged according to the Price List.
5.20.Fees for COLIBRIX Services are deducted from the Customer's Account before execution of Payment Transaction or rendering any Service by COLIBRIX. In case the amount of money on the COLIBRIX account is less than the price of a payment service, the payment service may be not executed.
5.21.COLIBRIX shall have no liability for execution of orders given to COLIBRIX if the Customer’s Accounts lack the required amount of funds.
5.22.The Customer has the right to set up the Payment limits as well as to change limits on Payment Transfers for Customer’s Account by completing an additional confirmation in Personal Profile in accordance with the procedure established in the System.
5.23.The Customer may check the Customer’s Account balance and history by logging in to the Personal Profile and requesting to provide a Customer’s Account statement. There is also information about all applied fees deducted from the Customer’s Account during a selected period of time.
5.24.Any terms related to execution of Payments (incl. fee, sequence and time of execution) and not set out in these Terms & Conditions, shall be stipulated in the Price List or Contract on Services.
5.25.The Customer confirms that:
- incoming funds on its Customer’s Account are not obtained as a result of criminal activity;
- the Customer will not use Services provided by COLIBRIX for any illegal purposes, including actions and operations aimed at laundering the proceeds derived from criminal or illegal activity.
5.26.COLIBRIX reserves the right to suspend Payment Transactions in the Customer’s Account at any time:
- if reasonable doubt exists as to safety of funds in the Customer’s Account or there is suspicion of unauthorized or fraudulent transactions in the Customer’s Account;
- if the Customer is in breach of these Terms & Conditions;
- in the events set out in applicable legislation or Contract on Services.
5.27.In the events referred to in clauses 5.25, COLIBRIX shall notify the Customer in the manner set forth in the Terms & Conditions or Contract on Services or using other means of communication acceptable to COLIBRIX, including phone, email, or the Customer’s Account remote administration.
5.28.Access to Customer’s Account shall be disabled on the Customer’s initiative if the Customer gives a relevant instruction to COLIBRIX in writing or in other manner agreed between the Parties in Contract on Services.
5.29.COLIBRIX is not liable for losses incurred by the Customer due to suspension of Service provision, Funds Reservation, blockage of the Customer’s Account or other actions if such actions have been performed in accordance with the procedures stated in the Agreement or Contract on Services and under circumstances and on the basis specified in the mentioned documents.
Execution of the Payment Order
6.1.Provided the Customer is the Payer, the Payment Order is considered received by COLIBRIX (calculation of the time period of execution of such Payment Order starts) on the day of its receipt, or, if the moment of receipt of the Payment Order is not a Business Day, the Payment Order is considered received on the next Business Day of COLIBRIX.
6.2.If the Payment Order is received by COLIBRIX on a Business Day of COLIBRIX but not on business hours set by COLIBRIX, it is considered received on the next Business Day of COLIBRIX.
6.3.Payment Order in the System is executed immediately up to a few minutes, unless the Payment Transaction is suspended due to causes set forth in legal acts and these Terms & Conditions, regardless of business hours of COLIBRIX unless a maintenance period is in place.
6.4.Where Payment Order is executed in GBP in the United Kingdom or in EUR in EU member states registered credit institution or electronic money institution, COLIBRIX ensures that, after the point in time of receipt of a Payment order, the amount of the Payment Transaction is deducted on behalf of Recipient’s payment service provider’s account on the same Business day, provided that the point in time of receipt of the Payment Order is that Business day by 12 p.m. Where the point in time of receipt of the Payment Order is after 12 p.m., the COLIBRIX ensures that the amount of the Payment Transaction is deducted on behalf of the Recipient’s payment service provider’s account at the latest by the end of the next Business day.
6.5.COLIBRIX reserves the right to store information about any Payment Order submitted, as well as recording and storing information about any Payment Transactions executed. Records mentioned in this clause shall serve as an evidence confirming the submission of Payment Orders and/or executed Payment Transactions for the Customer and/or third parties, who have the right to receive such data under the basis established by the legislation.
6.6.Payment Order submitted by the Customer shall comply with requirements for submission of such Payment Order and/or content of the Payment Order set by the legislation or by COLIBRIX. Payment Orders submitted by the Customer shall be formulated clearly, unambiguously, shall be executable and contain a clearly stated will of the Customer. COLIBRIX assumes no liability for any incorrect Payment Orders submitted by the Customer/Payer. If the Payment Order submitted by the Customer does not contain enough data or contains deficiencies, COLIBRIX, 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.
6.7.COLIBRIX has the right but not an obligation to refrain from execution of a Payment Order in case of a reasonable doubt whether the Payment Order has been submitted by the Customer or its Representative, and/or whether the Payment Order or the submitted documents are legitimate. In such cases, COLIBRIX has the right to demand that the Customer additionally confirms the submitted Payment Order and/ or submits documents confirming the rights of persons to manage the funds held on the Customer’s Account or other documents indicated by COLIBRIX in a way acceptable to COLIBRIX at the expense of the Customer. In cases mentioned in this clause, COLIBRIX acts with the aim to protect legal interests of the Customer, COLIBRIX and/or other persons, thus COLIBRIX does not undertake the responsibility for losses which may arise due to refusal to execute the submitted Payment Order.
6.8.COLIBRIX shall not be responsible for execution of Payment Orders given to COLIBRIX if the Customer’s Account lacks the necessary amount of funds. The Customer shall ensure a sufficient amount of funds in a relevant currency on its Account to execute the Payment Order.
6.9.Before executing the Payment Order submitted by the Customer, COLIBRIX has the right to request from the Customer a proof (including documentary evidence) of documents which prove the legal source of funds/wealth related to the Payment Order. In case the Customer does not submit such documents, COLIBRIX has the right to refuse to execute the Payment Order.
6.10.COLIBRIX has the right to involve third parties to partially or fully execute the Payment Order of the Customer, if the Customer's interests and/or the essence of the Payment Order require so. In the event that the essence of the Payment Order of the Customer requires sending and executing the Payment further by another financial institution, but this institution suspends the Payment Order, COLIBRIX 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. COLIBRIX has the right to suspend and/or terminate the execution of the Payment Order of the Customer, if required by law or in case it is necessary for other reasons beyond control of COLIBRIX.
6.11.COLIBRIX reserves the right to refuse and not to execute a Payment Order if:
- execution thereof is not allowed under applicable legislation;
- this contravenes any restrictions laid down by COLIBRIX or COLIBRIX affiliates;
- this is related, directly or indirectly, to a country, territory, or person or entity (incl. institutions and organizations) that is subject to financial and other sanctions imposed by international organizations or individual states or the national sanctions of the United Kingdom.
6.12.COLIBRIX shall have the right to refuse execution of the Customer’s Payment Orders if the information supplied to COLIBRIX is not sufficient for fulfilment of the requirements of legislation governing the area of anti-money laundering and counter-terrorist financing or other legislation, or transaction in question is directly or indirectly related to a person or entity (incl. institutions and organizations) that is subject to international sanctions or the national sanctions of the United Kingdom related to a person or entity that is directly or indirectly affiliated with a person or entity (incl. institutions and organizations) that is subject to international sanctions or restrictions, or the national sanctions or restrictions of the United Kingdom.
6.13.If money transferred by the Payment Order is returned due to reasons beyond the control of COLIBRIX (inaccurate data of the Payment Order, the account of the Recipient is closed, etc.), the returned amount is credited to the Customer’s Account. Fees paid by the Payer for the Payment Order execution are not returned, and other fees related to returning of money and applied to COLIBRIX can be deducted from the Customer’s Account.
6.14.Payment Transfers initiated by COLIBRIX may be standard and urgent. The manner of the Payment is selected by the Customer. If the Customer does not select the Payment manner, it is considered that the Customer has initiated a standard Payment.
Acceptance Of Payment In Customer’s Account
7.1.COLIBRIX shall have the right to accept any payments in the Customer’s Account without their consent.
7.2. A payment received on a Business Day after the normal working hours of COLIBRIX shall be considered received on the next Business Day.
7.3.COLIBRIX reserves the right not to accept a Payment in the Customer’s Account if:
- the information supplied to COLIBRIX is not sufficient for fulfilment of requirements of legislation governing the area of anti-money laundering and terrorist financing prevention or other legislation;
- execution of Payment is prohibited under applicable legislation;
- execution is not possible due to reasons beyond reasonable control of COLIBRIX (because the correspondent credit/payment institution refuses to execute such Payment);
- this contravenes any restrictions laid down by COLIBRIX or COLIBRIX affiliates;
- this is related, directly or indirectly, to a country, territory, or person or entity (incl. institutions and organizations) that is subject to financial and other sanctions imposed by international organizations or individual states or the national sanctions of the United Kingdom.
Unauthorised or Incorrect Payments
8.1.The Customer shall have a duty to see and check the Customer’s Account statements at least once a month. A failure to inspect the Customer’s Account balance shall not release the Customer from performance of its duties.
8.2.The Customer shall immediately notify COLIBRIX of unauthorized or incorrect payments or other inconsistencies in the Customer’s Account, which the Customer has found not later than 60 days after the day when such unauthorized or incorrect payment was made. If the Customer fails to notify COLIBRIX of unauthorized or incorrect payments the payment shall be considered to be fully authorized by the Customer.
8.3.Having learned about an unauthorised Payment transaction COLIBRIX will return the amount of the unauthorized transaction immediately but no later than by the end of next banking day and will restore the account balance, unless there are grounds for suspecting fraud. COLIBRIX also ensures that Customer will not incur losses (in terms of interest payable or receivable) due to unauthorised payment transactions.
8.4.If Customer is a Payer and a Payment Order is initiated by the Recipient, then the Recipient‘s payment service provider is responsible for the due transmission of the payment order to COLIBRIX.
8.5.If Customer is a Payer and a Payment Transaction initiated by the Recipient or through the Recipient, for which the Recipient‘s payment service provider is not responsible, was not executed or executed with a delay, then COLIBRIX assumes responsibility for such non-execution or delayed execution. COLIBRIX will immediately repay the amount of such Payment Transaction to the Customer, restore the balance of the Account which had been debited, and ensure what the Customer do not incur losses in terms of interest payable or receivable to/from the payment service provider (compared with the situation in which the Payment transaction is duly executed).
8.6.The Customer undertakes to protect and not to disclose any Passwords, Authorization code or PIN created by Customer or provided to Customer under the Agreement or other personalized security features of Payment Instruments to third parties and not to allow other persons to use services under the name of the Customer. If the Customer has not complied with this obligation and/or could, but have not prevented it and/or performed such actions on purpose or due to its own negligence, the Customer fully assumes the losses and undertakes to reimburse the losses of other persons incurred due to the indicated actions of the Customer or its failure to act.
8.7.In the event of loss of Password, Authorization code or PIN by the Customer or disclosure of the Password/Authorization code/Passwords through no fault of the Customer or COLIBRIX, or in case a real threat has occurred or may occur to the Customer’s Account, the Customer undertakes to change the Passwords and PIN immediately or, if the Customer does not have a possibility to do that, notify COLIBRIX thereof immediately (not later than within one Business Day) via email, phone call or using communications options in Personal Profile COLIBRIX shall not be liable for consequences that have occurred due to the notification failure.
8.8.After COLIBRIX receives the notification from the Customer as indicated in clause 8.7., COLIBRIX shall immediately suspend access to the Customer’s Account and provision of COLIBRIX Services until a new Password/ Authorization code is provided/created for the Customer.
8.9.COLIBRIX may deny an Account information service provider or a Payment initiation service provider access to a Customer's account for objectively justified and duly evidenced reasons relating to unauthorised or fraudulent access to the Customer's account by that account information service provider or that payment initiation service provider, including the unauthorised or fraudulent initiation of a payment transaction. In such cases COLIBRIX shall inform the Customer that access to the Account is denied and the reasons therefore. COLIBRIX shall allow access to the Customer's account once the reasons referred to in this for denying the access of the account information service provider and/or of the payment initiation service provider to the Customer's account no longer exists.
8.10.COLIBRIX draws the attention of the Customer to the fact that the email linked to the Customer’s Personal Profile and also other instruments (e.g. mobile phone number), which are linked at the Customer's choice to its Personal profile with COLIBRIX, are used as instruments for communication or identification of the Customer, therefore these instruments and logins to them shall be protected by the Customer. The Customer is completely responsible for safety of its email passwords and all the other instruments it uses, such as Passwords, PIN and other private credentials. Passwords are secret information, and the Customer is responsible for their disclosure and for all operations performed after the Password is used by the Customer for a relevant Customer’s Account or another Payment Instrument is entered. COLIBRIX recommends to memorize Passwords and not to write them down or enter in any instruments where they may be seen by other persons.
Depositing and Withdrawal of Cash
9.1.COLIBRIX may provide the Customer with the right to deposit cash to the Customer’s Account.
9.2.COLIBRIX may provide the Customer with the right to withdraw cash from the Customer’s Account.
9.3.After the Customer has deposited cash to its Customer’s Account, the Customer may manage the money immediately after COLIBRIX receives it by the Customer’s Account remote administration.
Closing Of Customer’s Account
10.1.COLIBRIX shall have the right to close the Customer’s Account upon receipt of a written request from the Customer, as well as in other cases contemplated in the relevant Contract on Services and these Terms & Conditions.
10.2.COLIBRIX shall have a right to close the Customer’s Account without any prior notice to the Customer thereof if the Customer has not performed any operations in the Customer’s Account for more than 90(ninety) days and/or the Customer’s Account balance is not positive or is equal to 0 (zero).
10.3.COLIBRIX is authorized to close the Customer’s Account, to terminate other Services and refuse any Services to the Customer or a person related to the Customer (Representative under law or contract, Beneficial Owner, officer, or a person otherwise linked to the Customer, including any person having, or having had, a direct or indirect participation in the Customer’s equity), if the Customer or the person related to the Customer commits or has committed, in the opinion of COLIBRIX, an illegal, unfair or unethical act towards COLIBRIX, or compromises, insults, offends or libels COLIBRIX or its representatives, or otherwise gives grounds for COLIBRIX to consider further business relationship with the Customer or their Representatives as (potentially) disrespectful, unworthy, or harmful or even destructive to the good name and reputation of COLIBRIX, as well as in cases when COLIBRIX is misled at the time of opening of account by presenting false information or forged documents.
10.4.If Customer's Account holds a balance at the time of its closure, COLIBRIX shall ask Customer to withdraw Customer's funds within a reasonable period of time, during which Customer's Account will be accessible for the purpose of withdrawing the remaining balance only, or shall transfer Customer's funds to other Customer's account specified by Customer. Only when the balance of Customer's Account is zero, COLIBRIX closes the Customer's Account.
10.5.These Terms & Conditions and the Price List shall, in respect of claims between COLIBRIX and the Customer, survive the closing of the Customer’s Account.
10.6.The Customer shall be obliged to release COLIBRIX from all the obligations arising from Customer’s orders and to reimburse COLIBRIX for all expenses and losses incurred to COLIBRIX.
Payment for Services, Reimbursement for Expenses and the Currency of Services
11.1.Services provided by COLIBRIX to the Customer are paid services, for which payment is set as a Commission Fee in the form of fees, commission, interest, etc.
11.2.The amount and procedure of payment for Services rendered to the Customer are determined by the Price List in force at the time of rendering the Services, except where the amount and procedure of payment of such services is stipulated in contracts existing between the Parties.
11.3.The Customer confirms that it has carefully studied the prices and terms of Payment Transaction and other COLIBRIX Services that are applied and relevant to the Customer.
11.4.COLIBRIX has the right to deduct the Commission Fee for rendered Services from the Customer’s Account where the Payment Transaction has been performed or from any other Customer’s Account opened by the Customer with COLIBRIX.
11.5.The Commission Fee for rendered Services shall be paid in the currency indicated in the Price List and/or Contract on Services.
11.6.The Customer undertakes to ensure a sufficient amount of money on the Customer’s Account in order to allow to COLIBRIX to deduct it as the Commission Fee according to the Price List. If the amount of funds in the indicated currency is insufficient to pay the Commission fee, COLIBRIX has the right, but not the obligation, to exchange money on the Customer’s Account in another currency into a necessary currency by applying the COLIBRIX currency exchange rate published. If there is money in several different currencies, COLIBRIX may exchange it into the payable currency in alphabetical order of the international abbreviations of the currencies.
11.7.The Customer, having failed to pay COLIBRIX the remuneration for provided Services, at the demand of COLIBRIX must pay a penalty not exceeding the established maximum by the regulatory enactments of the United Kingdom for each day overdue.
12.1.The Customer using COLIBRIX Services is prohibited from:
- not complying with the Terms& Conditions, Contracts on Services, legislation and other legal acts, including but not limited to, anti-money laundering and counter-terrorist financing acts;
- violating the rights of COLIBRIX and third parties to trademarks, copyrights, commercial secrets and other intellectual property rights;
- providing false, misleading or incorrect information to COLIBRIX; refusing to provide information or undertake other actions that are reasonably requested by COLIBRIX;
- providing to third parties false, misleading or incorrect information about COLIBRIX and cooperation with COLIBRIX;
- executing or receiving transfers of illegally acquired funds, if the Customer is aware of or should be aware of it;
- using Services of COLIBRIX in a way which causes losses, liability or other negative legal consequences or damage to the business reputation of COLIBRIX or third parties;
- using COLIBRIX Services from countries that are not acceptable to COLIBRIX;
- 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 COLIBRIX;
- undertaking any other deliberate actions which could disturb the provision of COLIBRIX Services to the Customer or proper functioning of the System;
12.1.10.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 trade of tobacco products, alcohol, prescription drugs, steroids, weapons, narcotic substances and their attributes, pornographic production, unlicensed lottery, illegal software and other articles or products prohibited by the law;
12.1.11.without a prior written consent of COLIBRIX providing financial services and/or legally organizing 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 Customer intends to provide financial services using the Customer’s Account, the Customer shall have a valid license, 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;
12.1.12.without a prior written consent of COLIBRIX organizing legal gambling, lotteries, other specially licensed activities or activities requiring a permit. In case the Customer intends to provide the indicated services using the Customer’s Account, the Customer shall have a valid license, issued by a member state of the European Union and shall be monitored by the competent authorities with respect to compliance with these requirements;
12.1.13.registering a Customer’s Account by fictitious or someone else's name without having the power of attorney; registering a Customer’s Account using services of anonymous phone numbers or e-mail addresses provided by other individuals or websites;
12.1.14.providing services that are prohibited by the law or contradict public order and moral principles;
12.1.15.disclosing Authorization codes, Passwords, PIN and other authentication means to third parties and allowing other persons to use Services under the name of the Customer.
12.2.The Customer shall reimburse all direct damages, fines and other monetary sanctions applied to COLIBRIX due to non-observance or violation of the Terms& Conditions.
12.3.The Customer is responsible and undertakes to reimburse any losses incurred by COLIBRIX, other COLIBRIX Customers and third parties due to using COLIBRIX Services and violating these Terms & Conditions or Contracts on Services by the Customer.
Notifications by Parties and Amendments on Terms & Conditions and/or Price List and/or Contract
13.1.The Customer agrees that COLIBRIX will provide notifications to the Customer by placing them in the Customer’s Personal Profile and/or by sending them to the email address indicated by the Customer at the time of registration in the System, and/or by sending it to the address indicated by the Customer at the time of registration in the System, and/or by sending an SMS message. The Customer acknowledges that a COLIBRIX notification submitted in any of the above-mentioned ways shall be deemed as properly provided. If such notifications are not related to a substantive amendment to the Agreement, it shall be deemed that the Customer has received the notification within 24 hours from the moment it was posted in the Customer’s Personal Profile or sent to the Customer by e-mail or SMS message. If the notification is sent by post, it shall be deemed that the Customer has received it within 5 (five) Business Days after it was sent.
13.2.Unless agreed otherwise by COLIBRIX and the Customer, COLIBRIX reserves the right to amend these Terms & Conditions and/or Price List and/or Contract on Services at its sole discretion.
13.3.In case COLIBRIX notification relates to essential amendments to the Terms & Conditions or the Price List, or Contract on Services, the Customer shall be informed 60 (sixty) days in advance. The amendments to Terms & Conditions, Price List or Contract on Services come into force within 60 (sixty) days after the notification was published on the Website and/or reflected in the Customer’s Personal Profile and/or sent to the Customer by email or via any other means indicated by the Customer during registration.
13.4.The 60 (sixty) days notification period shall not be applied and notifications shall be provided if:
- the Terms & Conditions, Price List or Contract on Services are changed due to changes in mandatory requirements of the legislation;
- new service or a part of a service appears, which may be used or not used by the Customer at its own choice.
13.5.Non-essential amendments to 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 the Customer’s rights and do not increase the Customer’s liability or aggravate Customer's situation.
13.6.The Customer undertakes to check the indicated email and other instruments for receipt of notifications indicated in the Personal profile, as well as Website, on a regular basis, in order to notice notifications of amendments to the Terms & Conditions, Price List or Contract on Services in a timely manner. The Customer will be deemed to have accepted changes in the Terms & Conditions as well as Price List and Contract on Services unless he notifies in written form the COLIBRIX that she/he does not accept them before the date of their proposed date of entry into force. In case the Customer does not agree to amendments, the Customer has the right to refuse from COLIBRIX Services and terminate the Agreement, notifying COLIBRIX thereof 30 (thirty) days in advance.
13.7.COLIBRIX has the right to request the Customer to send the agreement by post with notarized signature of the Customer. Such agreement shall enter into force after the signed agreement is received and approved by COLIBRIX. COLIBRIX is not obliged to send the signed agreement back to the Customer.
13.8.All messages of the Parties shall be sent in the acceptable language or in the language in which the written Agreement was presented to the Customer to get acquainted with. The main language is English, unless agreed otherwise by COLIBRIX and the Customer.
13.9.The Customer undertakes to publish in the Personal Profile and, in case of amendments, immediately update the contact data (phone number, email address and post address), which COLIBRIX could use to urgently contact the Customer or its Representatives. In case the Customer does not update the contact data in the Personal profile, all consequences related on the failure of COLIBRIX to submit notifications to the Customer shall fall on the Customer.
13.10.In order to protect the Customer’s funds from possible illegal actions of third parties, the Customer undertakes to immediately inform COLIBRIX in writing (using communications options in Personal Profile or via email using secure electronic signature) about theft or loss of its personal identity document.
13.11.The Customer can receive a consultation regarding all issues related to the System and execution of the Agreement by sending its question from the email address registered in the System, calling to the Customer support or filling in a request in the Personal profile. The Customer messages related to the Agreement shall be sent to the email address provided on the Website or to the COLIBRIX post address indicated in the Agreement. All messages shall be sent to COLIBRIX regardless of who is the direct provider of COLIBRIX Services defined in the Agreement.
13.12.COLIBRIX shall notify the Customer in advance, in accordance with this procedure, of any known and possible technical failures of the System and systems or equipment of third parties involved by COLIBRIX in the provision of services, which have an impact on the provision of COLIBRIX Services.
13.13.COLIBRIX may change the solution for technical integration of services without constraint and at any time. Changes required by the Customer shall be made at the Customer’s expense.
13.14.The Parties shall immediately inform each other about any circumstances significant for execution of the Agreement. The Customer 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 Customer’s Account, initiation of bankruptcy proceedings against the Customer, etc.), whether this information has been already transferred to public registers or not.
13.15.COLIBRIX has the right to request the documents issued abroad to be translated, legalized or confirmed with an Apostille, except where legal acts state otherwise.
13.16.All costs for conclusion, submission, confirmation and translation of documents provided to COLIBRIX shall be covered by the Customer.
Termination of Agreement
14.1.The Customer has the right to terminate the Agreement unilaterally by notifying COLIBRIX thereof in writing (using communications options in Personal Profile or via email using secure electronic signature) 30 (thirty) calendar days in advance. In the case mentioned in clause 3.9 of the Agreement, the Customer is entitled to terminate the Agreement unilaterally by notifying COLIBRIX thereof in writing (using communications options in Personal Profile or via email using secure electronic signature) 7 (seven) calendar days in advance. If the Customer terminates the Agreement, the issued Electronic Money is returned to the Customer by its chosen means (indicated in the Agreement) in accordance with the limits of Payment Transactions specified in the Agreement.
14.2.COLIBRIX has the right to terminate the Agreement and the Contract on Services unilaterally and refuse to provide Services without indicating the reason, notifying the Customer thereof 60 (sixty) days in advance by means provided in clause 13.1 of the Agreement. COLIBRIX also has the right to terminate the Agreement and Contract on Services unilaterally and refuse to provide Services for the reasons stated in Section 13 of the Agreement, notifying the Customer thereof 30 (thirty) days in advance by means provided in clause 13.1 of the Agreement without reimbursing the Customer for any loss.
14.3.At the request of COLIBRIX, the Agreement and Contract on Services may be terminated immediately, in case no operations have been made on Customer’s account for more than one year.
14.4.COLIBRIX shall be entitled to withdraw from any contract existing between the Parties without any prior notice and without reimbursing the Customer for any loss, if:
- the Customer has failed to furnish or has furnished false, incorrect or incomplete information regarding its identity or financial standing, the origin of its welfare or funds;
- the Customer is, or has been, connected with or suspicions arises to COLIBRIX that the Customer is connected with money laundering and/or terrorist financing or conducting fraudulent activities;
- COLIBRIX has a suspicion that the Customer is using, has used or has attempted to use the Customer’s Account for Payment Transfers for conducting any unlawful activities, including for money laundering or terrorist financing related operations, as well as for any activities aimed at circumventing international sanctions, restrictions or prohibitions or national sanctions, restrictions or prohibitions of the United Kingdom;
- the Customers defaults on its obligations to COLIBRIX constitute the assumption that the Customer will not perform any of its obligations to COLIBRIX;
- the Customer has caused direct or indirect loss to COLIBRIX through any act or omission by the Customer;
- COLIBRIX is in possession of information about the Customer’s reputation that may have a direct or indirect impact on operations of COLIBRIX or may cause unfavourable implications for COLIBRIX;
- COLIBRIX’ supervisory authority, any state institution, international organization, correspondent credit/payment institution or any other credit/payment institution urges termination of the Agreement;
- the Customer does not furnish COLIBRIX with the information requested by COLIBRIX or required under the applicable legislation;
- the Customer is a subject of the Money Laundering Regulation (MLR) and the Customer’s internal control system does not comply with the requirements of the legislation governing the area of anti-money laundering and counter-terrorist financing;
14.4.10.in case after terminating the Agreement between COLIBRIX and the Customer, the Customer does not choose the means for Electronic Money redemption and/or does not complete an additional identification procedure for increasing the limits, COLIBRIX may (but is not obliged to) redeem the Customer ‘s Electronic Money by the means of Electronic Money redemption which is available at the moment of redemption.
Confidentiality and Data Protection
15.1.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 Agreement, and not transfer it to third parties without a written consent from the other Party or its legal Representatives.
15.2.The Customer agrees that COLIBRIX manages Customer’s Personal Data with an aim to provide Services to the Customer and execute other responsibilities under the Agreement. The Parties guarantee security of Personal Data received while executing the Agreement. Personal Data is used to the extent necessary to execute the Agreement. The above-mentioned Personal Data may not be disclosed to third parties without a consent from the subject of this data, except for cases stated by the law or the Agreement.
15.3.The period of data storage is 5 (five) years (from the moment of termination of the relationship between the Parties), except where the legislation requires a longer period of data storage. After the period of Personal Data processing expires, the Party destroys Personal Data at its possession.
15.5.COLIBRIX has the right to transmit all collected important information about the Customer and its activity to other law enforcement institutions, state authorities (State Tax Inspectorate, Data Protection Inspectorate, etc.) and other financial institutions, 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. The Customer explicitly agrees that COLIBRIX is entitled to process the data of the Customer, including collect, store, register, transfer, transmit, etc. and transfer and receive Customers data and other information from third parties, databases, accounting systems, and transfer data to other COLIBRIX affiliated companies or the data processors.
15.6.The Customer grants COLIBRIX the right to undertake necessary measures, including but not limited to, submitting requests to third parties directly or via third parties in order to determine the identity of the Customer and accuracy of other data submitted by the Customer.
15.7.COLIBRIX points out that in all cases COLIBRIX operates only as a service provider for the Customer, which sends money to the Recipient at the request of the Customer (money sender) and does not provide or offer any services to the Recipient until it becomes a Customer of COLIBRIX.
15.8.COLIBRIX has the right to record telephone conversations with the Customer. The Parties agree that telephone conversations and messages transferred via mail, email and other telecommunication instruments may be deemed evidence when settling disputes between the Parties. By the Agreement the Customer confirms that it understands and agrees to the recording of any telephone conversations with the Customer or the Representatives by COLIBRIX. COLIBRIX stores records of telephone conversations and other correspondence for its own needs and does not provide them to the Customer.
15.9.The Customer agrees that her/his Account number and Personal Data required for the Payment Transaction may be detected and displayed to another COLIBRIX user who intends to make a Payment to the Customer if another COLIBRIX user enters a confirmed identifier of the Customer (name, surname, bank account, e-mail address).
15.10.The Customer agrees that COLIBRIX will transfer Personal Data of the Customer to persons directly related to execution of the Payment Order, such as international payment card organizations, companies processing information about payments by payment cards, the provider of Services of the Recipient, the operator of the payment system for execution of the Payment Transaction, intermediaries of the provider of Services of the Recipient and the Recipient.
Liability of Parties
16.1.Each Party is liable for all fines, forfeits and other losses that 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. In all cases, liability of COLIBRIX under the Agreement is limited by the following provisions:
- COLIBRIX shall only be liable for direct damages caused by direct and essential breach of the Agreement by COLIBRIX, and only for damages which could have been foreseen by COLIBRIX at the time of breaching the Agreement;
- the amount of compensation for damages caused by violating the Agreement by COLIBRIX shall not exceed the average of Fees for the last 3 (three) months paid to COLIBRIX by the Customer for provided Services. This restriction is applied to the total amount of all violations in a month. In case the average of 3 (three) months cannot be calculated, the compensation may not exceed GBP 2000,00 (two thousand pounds);
- in all cases, COLIBRIX shall not be liable for non-receipt of profit and income by the Customer, loss of reputation of the Customer, loss or failure of the Customer's business, and indirect damages;
- limitations of COLIBRIX liability shall not be applied if such limitations are prohibited by the applicable law.
16.2.COLIBRIX does not guarantee uninterrupted System operation, because System operation may be influenced (disordered) by many factors beyond control of COLIBRIX. COLIBRIX shall put all efforts to ensure that the System operates as fluently as possible, however, COLIBRIX shall not be liable for any consequences occurring due to System operation disorders if such disorders occur through no fault of COLIBRIX.
16.3.The System may fail to operate due to reasons under control of COLIBRIX and COLIBRIX shall not provide any compensation for malfunctions if the System has been accessible for more than 99% (ninety nine percent) of all time, calculating the average of at least 3 (three) months.
16.4.The cases where COLIBRIX 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 COLIBRIX informs the Customer about such cases at least 2 (two) calendar days in advance, shall not be considered System operation disorders.
16.5.COLIBRIX is not liable for:
- money withdrawals and transfers from the Customer’s Account and for other Payment Transactions with funds held on the Customer's account if the Customer had not protected her/his Passwords, PIN and Authorization code , and as a result they have become known to other persons, and also for illegal actions and operations of third parties performed using counterfeited and/or illegal documents or illegally received data and the Customer did not informed COLIBRIX about that in the order set clause 8.7;
- errors and late or missed transactions made by credit institutions, billing systems and other third parties;
- consequences arising out of disturbances of fulfilment of any COLIBRIX obligations caused by a third party, which is beyond control of COLIBRIX;
- consequences occurring after COLIBRIX legally terminates the Agreement, cancels the Customer’s Account or limits access to it, also after reasonable limitation/termination of provision of a part of the Services;
- goods and services purchased using the Customer’s Account, and also for other party, which receives payments from the Customer’s Account, not complying with the terms of any agreement;
- a failure to fulfil its own contractual obligations and for damages, in case it was caused by the fulfilment of duties by COLIBRIX determined by the law.
16.6.The Customer assures that all actions of the Customer related to the execution of the Agreement will comply with the applicable law.
16.7.The Customer is fully liable for correctness of data, orders and documents submitted to COLIBRIX.
16.8.If the Customer denies authorizing the Payment Transaction which has been authorized or states that the Payment Transaction has been executed improperly, COLIBRIX is obliged to prove that the authenticity of the Payment Transaction has been confirmed, it has been registered properly and recorded into accounts, and it has not been affected by any technical or any other glitches.
16.9.If the Customer is a consumer, the Customer bears all the losses that have occurred due to unauthorized Payment Transactions for the amount of up to 150 (one hundred fifty) GBP if these losses have been incurred due to circumstances that the Customer had not protected his/her identity confirmation instruments, including Password, PIN, Authorization code.
16.10.If the Customer is not a consumer and the Payment Transaction is executed in the currency of a member state to/from a foreign country or in the currency of a foreign country, the Customer bears all the loses
16.11.These provisions of the Agreement, which are intended for consumers, are not applied to Customers who are not consumers and act under the Agreement and Contract on Services, pursuing aims related to their business, commercial or professional activity.
16.12.If the Customer does not timely perform any payment specified in this Agreement, Contract on Services and/or Price List, COLIBRIX may apply to the Customer the Penalty from each delayed payment amount for each day for all time until the corresponding amount is settled.
16.13.Penalty is calculated for the period from the next day following the due amount from the Customer until the date when this payment has been paid.
16.14.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 Customer shall notify COLIBRIX of such force majeure in writing (via email using electronic signature) within 10 (ten) calendar days after the day of occurrence of such circumstances. COLIBRIX shall notify the Customer of force majeure circumstances via email or in Personal Profile.
Settlement of Disputes Between the Customer and COLIBRIX
17.1.COLIBRIX aims to settle all disputes with the Customer amicably, promptly and on terms acceptable to both Parties, thus, in case of a dispute, Customers are encouraged to firstly address COLIBRIX directly. Disputes are solved by negotiation.
17.2.The Customer, believing that COLIBRIX has violated the Customer’s rights and/or interests protected by the laws related to the provision of financial services and/or concluded agreements, might refer to COLIBRIX by submitting a written complaint. With respect to the Customer, which is a consumer, such complaint shall be provided to COLIBRIX within 3 months from the date when the Customer, which is a consumer, has or should have become aware of the violation of the Customer’s rights and/or interests protected by the law.
17.3.The Customer may submit any claim or complaint regarding Services of COLIBRIX by sending a notification via email, calling the Customer support centre or sending a notification via Personal Profile.
17.4.The complaint shall contain a reference to circumstances and documents that served as a basis for the complaint. If the Customer justifies his/her complaint with documents which COLIBRIX does not possess, the Customer shall also submit such documents or their copies.
17.5.Terms of consideration of claims and complaints of Customers:
- In case the Customer is a consumer, COLIBRIX undertakes to analyse the claim or complaint of the Customer and inform the Customer about the decision within 14 (fourteen) days from the day of receipt, except where the legislation or other binding regulations related to the provision of Services of COLIBRIX (e.g. rules of international payment card organizations) provide fora different period of time;
- If the Customer is not a consumer, COLIBRIX shall examine the Customer's claim or complaint and notify the Customer of the decision not later than within 30 (thirty) days from the day of receipt, except where the legislation or other binding regulations related to the provision of Services of COLIBRIX (e.g. rules of international payment card organizations) provide fora different period of time.
17.6.If COLIBRIX is not able to provide an answer to the Customer’s complaint within the time period specified in clause 17.5, COLIBRIX shall inform the Customer about the reasons and indicate the time period in which the answer will be provided.
17.7.Analysis of the Customer’s complaints by COLIBRIX is free of charge.
17.8.If the Customer is not satisfied with the decision made by COLIBRIX, the Customer has the right to use other legal remedies to protect its rights. For instance, the Customer who is a consumer has the right to appeal to UK Information Commissioner’s Office (ICO), Wycliffe House, Water Ln, Wilmslow SK9 5AF, United Kingdom, phone 0303 123 1113, email: https://ico.org.uk/make-a-complaint/. The Customer, who is a consumer and has claims arising from loan, deposit, insurance and investment agreements as well as agreements on other financial services, has the right to appeal to Financial Conduct Authority, 12 Endeavour Square, London E20 1JN, United Kingdom, email: email@example.com.
17.9.In case of failure to settle a dispute amicably or by other extrajudicial methods of dispute resolution, 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 COLIBRIX office. If the Customer is a consumer, he/she has the right to appeal to customer dispute settlement institutions under the procedure set by the legislation.
17.10.The law of the United Kingdom is applicable to this Agreement, Price List and Contract on Services, and relations of the Parties that are not regulated by this Agreement, including cases when a dispute between the Customer and COLIBRIX falls within the jurisdiction of a court of another country.
18.1.Each Party confirms that it possesses all permissions and licenses required under the applicable law for the execution of the Agreement.
18.2.This Agreement is concluded in electronic form. COLIBRIX may send the Agreement in written form to the address indicated by the Customer upon the Customer's written request. The copy of the Agreement to be shipped shall not be signed by COLIBRIX. Titles of sections and articles of the Agreement are intended solely for convenience of the Parties and may not be used for interpretation of the provisions of the Agreement.
18.3.The Parties are independently liable to the state and other subjects for fulfilment of all tax obligations. COLIBRIX shall not be liable for execution of tax obligations of the Customer, calculation or transferring of taxes applied to the Customer.
18.4.COLIBRIX in all cases acts as an independent Party to the Agreement, which shall not control or undertake liability for products and services that are paid for using COLIBRIX Services. COLIBRIX does not undertake liability that the buyer, seller or another party will fulfil the terms of a bargain clinched with the Customer.
18.5.The Customer 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 COLIBRIX. COLIBRIX 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 Customer if such transfer of rights and obligations does not contradict the legislation.
18.6.If any provision of the Agreement becomes invalid, other provisions of this Agreement shall remain in force.
18.7.The Agreement shall come into force in accordance with clause 3.6 of the Agreement. The Customer may save the text of the Agreement at the time of registering of Personal Profile in the System.
18.8.This Agreement is provided in English. The Agreement applicable to the Customer is concluded in the language in which the Agreement was introduced to the Customer at the time of registration of Personal Profile.
18.9.Links to websites given in the Agreement and Contract on Services are integral part of this Agreement and are applied to the Customer from the moment it starts using the respective service.