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General business terms of EWALLETEX LTD OÜ
General business terms of EWALLETEX LTD OÜ (hereinafter referred to as „MyWalletEx “), as amended (hereinafter referred to as “GBT”) regulate basic terms under which MyWalletEx provide its clients with services concerning credit transactions especially with payment transactions.
MyWalletEx provides the client with services based on a general contract and one-time contracts – orders concluded between MyWalletEx and the client – and GBT which are an integral part of the Contract. If not arising otherwise from the Contract, provisions of the Contract take precedence over GBT.
Information about MyWalletEx: name EWALLETEX LTD OÜ, registered office Roosikrantsi tn 2-638K, 10119, Tallinn, Estonia
Registered in the Companies Register managed by the Municipal court in Estonia, Registration code: 14561558, email: support@mywalletex.com
The client declares that he got acquainted with content of the Contract before providing services by MyWalletEx, with GBT and the Pricelist, data about the entity of MyWalletEx, basic information about services providing, eventually with other important information about terms of services providing (hereinafter referred to as “important information”). All important information is published on websites of MyWalletEx
The client agrees that he will be informed about each change of important information or about other changes, mainly via websites of MyWalletEx or via email communication. The client declares that he has access to the Internet service, he uses this service regularly and has the possibility to get acquainted with information mentioned on websites of MyWalletEx before each providing of a service.
The client and MyWalletEx agreed upon email communication as a common way of communication and transmission of information related to the Contract. MyWalletEx will send email communication to an email address provided by the client. The client gives MyWalletEx and corporations of the group, where he is a member, his consent for sending email and paper business messages related to an offer of services.
Definition of terms
For purposes of GBT and the Contract, the following is defined:
Client – physical or corporate entity which entered into a Contract with MyWalletEx, based on which services are provided.
Contract – General contract which part create GBT, the Pricelist and individual payment transactions.
Payment service or service – payment service MyWalletEx is entitled to provide such a service based on a USD exchange and EUR ewallet license of the Estonia.
Transaction, spot transaction – firmly agreed credit transaction with foreign currency; pecuniary means are purchased or sold during this transaction in one currency for a certain amount of pecuniary means in another currency, at an exchange rate actual in the financial market at the moment of transaction (spot foreign exchange) whereas the client pays pecuniary means immediately and MyWalletEx settles the transaction immediately after receiving client’s payment, but within the 2nd working day after the transaction was agreed at the latest.
Exchange rate – value for which MyWalletEx offers sale or purchase of foreign currency.
Day of settlement of a transaction – working day when pecuniary means should be paid in agreed currencies between MyWalletEx and the client.
Parameters of a transaction – sale currency, purchase currency, amount of currency for one transaction, exchange rate in the financial market, identification of MyWalletEx including a bank account number to which the client shall pay for the transaction, client’s identification including his bank account number to which MyWalletEx shall send a payment, date of settlement of a payment transaction, payment instructions, price of a service, charges and possible other parameters of a transaction.
Confirmation – confirmation of a transaction between the client and MyWalletEx
Certificate of settlement of a transaction – confirmation of settlement of a transaction agreed between the client and MyWalletEx
Working day – day when banks in the Estonia are open; a system of payments can be made among such banks.
Market disorder – unforeseeable event causing that neither MyWalletEx nor the client shall be able to gain information about a market exchange rate decisive for the given transaction in the appropriate market or if transactions in the appropriate market are stopped or limited or if there is another market disorder of a system of payments.
Order – conditional impulse in which the client defines an exchange rate; if the exchange rate is reached, MyWalletEx should be contacted. The client orders this exchange rate for a definite period.
Politically exposed person – physical person who has in an important public function with national competency, e.g. head of state, prime minister, minister, deputy or secretary minister, member of the parliament, member of the Supreme Court, Constitutional Court or another higher judicial authority against which decision it is generally not possible to use, with exceptions, discretionary remedies; it can e also a member of the Court of Auditors, supervisory authority of the central bank, high-ranking officer in armed forces or corps, a member of administrative, governing or auditing body of a company in state possession, ambassador or chargé d'affaires, physical entity who has similar functions in bodies of the European Union or other international organizations for the period of this function performance and also
for the period of one year after termination of this function; a person who has his permanent address outside the Estonia or has such an important public function outside the Estonia; and related persons.
Closing the Framework Agreement
The Framework Contract may be concluded personally, by correspondence, electronically or online via the MyWalletEx‘s website.
In case of the conclusion of a Framework agreement via the MyWalletEx‘s website the Framework Agreement is concluded at the moment of fulfilment following conditions:
2.1. The Client is familiar with the GBT and he confirmed it on the MyWalletEx‘s website;
2.2. The Client filled in all data required under the Framework Agreement;
2.3. MyWalletEx received all IDs verifying the identify of the Client.
Correspondence to the conclusion of a framework agreement is maintained if a signed signature of the .pdf and other required documents is delivered to the support@mywalletex.com e-mail address.
The electronic way is maintained if the framework contract is signed by electronic means according to the valid legal regulations, ie by a secured electronic signature, or the framework contract is delivered by e-mail, from which it is possible to determine unequivocally the identification of the acting person (the e-mail is, for example, Name and surname of the client).
In connection with the conclusion of a framework agreement, client identification is performed in accordance with the applicable legal regulations. The client is obliged to provide MyWalletEx with the necessary co-operation and to provide identification documents.
Settlement period, information obligation
Transaction will be settled without undue delay after receiving pecuniary means defined for a payment transaction from the client to a bank account of MyWalletEx or to client’s bank account. The client undertakes to pay the entire liability from a transaction within next working day at the latest (D+1) after a transaction is agreed. If the client doesn’t meet this liability, MyWalletEx is entitled to withdraw from the transaction and eventually invoice the client the incurred loss. After the client pays his liability from a payment transaction towards MyWalletEx, MyWalletEx is obligated to enter a payment order to make the required transaction without undue delay so that it is made within periods whereas the maximum is D+1. This period can be prolonged because of the client if he doesn’t have sufficient coverage at his bank account to make the entered order or if the client didn’t announce MyWalletEx all necessary parameters of his payment order.
MyWalletEx meets an information obligation arising from provisions towards clients via email messages sent to clients to their email addresses on file of MyWalletEx Information is sent within the end of next working day after settlement of a transaction at the latest.
The client is obligated to notify MyWalletEx of information about the alienation of access authorizations (profile) enabling payment transactions via MyWalletEx or about possible unauthorized transactions immediately after such finding.; in case it is announced during working hours, it is possible to use also the email address support@mywalletex.com. After MyWalletEx receives the information, the profile will be blocked. Since MyWalletEx has been reported as a loss, theft or unauthorized use of access rights MyWalletEx is liable for the misuse.
The payer is liable for the loss arising from non-authorized payment transaction: 1) up to the amount of 150 EUR if such loss was caused by
a) use of a lost or stolen payment instrument b) if the payer has failed to keep the personalised security features safe, from the misappropriation of a payment instrument; 2) in a full extent, if such loss was caused by a payer´s fraudulent conduct or
whether intentionally or through gross negligence on his/her part, omits any of duties. The previous sentence shall not apply in cases where the payer has neither acted fraudulently and a loss occurs after payer notifies the MyWalletEx the loss, theft or misuse of a payment instrument, ort he provider fails to provide the payer with sufficient means to notify anytime the loss, theft or misuse or unauthorised use of a payment instrument.
III. Claims and complaints
In case that the client is convinced that MyWalletEx didn’t meet properly its liabilities arising from the Contract, he is entitled to lodge a claim/complaint at MyWalletEx The client is obligated to lodge a claim/complaint before he takes any other measures in terms of services which are subjects of a claim/complaint. A claim/complaint has to be in writing and include client’s signature and identification data, at least his name, surname, permanent address and contact address as regards physical entities, and name, ID-No., registered office, contact address and name and surname of persons authorized to act on behalf of the company as regards corporate entities. To settle a claim properly and on time, is has to be clear what its subject is (e.g. type and number of a transaction, act of a particular employee, etc.). The client delivers a claim/complaint to MyWalletEx without undue delay in writing to the address of MyWalletEx or to the email address support@mywalletex.com At the request, MyWalletEx issues a confirmation of takeover of a claim/complaint for the client.
Claims/complaints are settled by managers of departments of MyWalletEx, who are affected by the claim/complaint. The client is obligated to provide MyWalletEx with necessary cooperation when settling the claim. MyWalletEx is obligated to settle client’s claim/complaint within 30 days, in more difficult cases within 60 days, after its delivery and send the client a written statement of the way of settlement during this period. MyWalletEx keeps a list of claims/complaints which is administrated by a Compliance officer. The compliance officer is responsible for the coordination of settlement of claims/complaints and together with executives he checks the way of settlement.
IV. General and final provisions
MyWalletEx is entitled to reject providing of a particular service, mainly making a deal, if the contracting parties don’t agree upon all terms of its providing or if the client doesn’t provide MyWalletEx properly and on time with all information and documents necessary for proper providing of a service or if it is stipulated by legislation.
MyWalletEx isn’t obligated to accept a document if MyWalletEx doubts about its originality, completeness or accuracy and considers it as necessary for proper providing of a required service and in such a case MyWalletEx is entitled to ask the client to provide further information and documents which MyWalletEx considers as necessary to prove originality, completeness or accuracy of the information or document in question.
MyWalletEx shall make only such transactions and realize such client’s requests which are complete, correct, definite, understandable and made in compliance with terms set by the Contract, GBT.
The client isn’t entitled to assign, stop or encumber receivables from MyWalletEx in another way.
Non-usage of any right arising from this contract or transaction or default in utilization of such a right by any contracting party won’t be interpreted as a waiver of such a right.
MyWalletEx is entitled to ask providing of an appropriate security or additional security of its receivables from the client, also during the period of providing a service. If such a security or additional security isn’t provided, it is considered as a fundamental infringement of the contract by the client and in this case MyWalletEx has a right to terminate providing of any service, mainly to withdraw from a transaction or from the Contract.
All communication between MyWalletEx and the client is in the English language or if agreed with MyWalletEx, it is in other language.
MyWalletEx is entitled to withhold taxes from payments made based on the contract, according to valid legislation. If the client is affected by contracts for the abolition of double taxation, the client is obligated to advise MyWalletEx of this fact when agreeing upon a transaction.
Persons who were authorized by the client in the Contract are entitled to make transactions, use other services set by the contract and sign confirmations on client’s behalf and at his expense and within the scope and in the way mentioned in the Contract. These persons are entitled to act individually if not agreed otherwise. These persons aren’t entitled to change, complete or cancel the contract if they aren’t entitled to it based on the special power of attorney granted by the client.
If the client doesn’t claim any data mentioned in documents of MyWalletEx without undue delay after their receipt, it is considered that the client agrees with all data mentioned in documents.
Cancellation of a transaction or payment order at client’s instance has to be handed over to MyWalletEx personally or sent in writing per email to the address support@mywalletex.com. Cancellation can’t be made after a phone agreement upon a transaction.
Payer’s request to refund eventually the sum of an authorized payment transaction at recipient’s instance.
If not mentioned expressly otherwise in the contract or if not agreed between the contracting parties, it is possible to agree upon providing of a service or to provide a service, mainly to make a transaction, exclusively on working days during the time from 08.00 to 17.00 CET, the time valid in the territory of the Estonia. The moment close to the end of working hours is 17.00.
In case there is a market disorder or another event considered as force majeure and having an influence on fulfilment under the contract or on an already made transaction and it isn’t possible to meet conditions of a transaction, the contracting parties are obligated to agree in good will either upon termination of a transaction and refund of eventual fulfilment affected by a market disorder or by an event considered as force majeure, or upon continuation of this transaction under terms possible after removal of obstructions of force majeure or a market disorder.
GBT were approved by the board of directors of MyWalletEx These GBT are valid and effective since October 2018.