Payments International Inc.
Client Terms and Conditions

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1. Introduction

These Terms and Conditions (“Terms”) govern the relationship between Payments International Inc. (“Payments International”, “we”, “us”) and the undersigned client (“Client”, “you”). 

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2. Regulated Services and Disclosures

Payments International’s payment and foreign currency exchange services (the “Services”) are provided by certain third party non-bank foreign exchange and international payments institutions (the “Fulfillment Provider”), each being a regulated money service business (“MSB”).  Payments International acts as the programme manager for the Fulfillment Provider. By engaging Payments International and conducting transactions through the Fulfillment Provider’s online platforms, you acknowledge and agree to these Terms.

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3. Our Role

3.1 Payments International acts solely as an introducing broker and programme manager in relation to the Services provided to you by the Fulfillment Provider.

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3.2 Payments International may:

• Assist with onboarding the Client, including collection and submission of Client documents and information to the Fulfillment Provider.
• Provide Client support and communication in relation to the Services.
• Relay Client instructions and, when authorised, execute transactions on the Fulfillment Provider’s platform on behalf of the Client.

3.3 Payments International does not:

• Hold or manage Client funds.
• Provide investment, legal, or tax advice.
• Assume or accept any responsibility for the delivery of the Services including, without limitation the execution or settlement of transactions, which responsibility rests solely with the Fulfillment Provider as the regulated MSB.

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4. Fulfillment Provider’s Role

4.1 The Fulfillment Provider is the exclusive provider of the Services to you, including all payment and foreign currency exchange transactions, together with all related financial services.

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4.2 Except for the responsibilities of Payments International specifically provided herein, your contractual relationship for the Services you receive is direct with the Fulfillment Provider. The Fulfillment Provider is responsible for execution, settlement, safeguarding of funds, and all regulatory compliance obligations applicable to the Services.

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4.3 Payments International does not guarantee any aspect of the delivery of the Services to you by the Fulfillment Provider.

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5. Client Responsibilities

5.1 You agree to provide accurate and complete information to Payments International as required for the proper onboarding of you as a Client of the Fulfillment Provider and in connection with ongoing compliance purposes.

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5.2 You may execute transactions and payments directly through the Fulfillment Provider’s online platform. Payments International may, when instructed by an authorised representative of the Client, execute transactions and payments on the Fulfillment Provider’s platform on their behalf. Any such instruction given to Payments International shall carry the same authority and effect as if the Client had executed the transaction directly within the Fulfillment Provider’s platform. Payments International does not accept responsibility for the execution of such instruction. For compliance and record-keeping purposes, all Client instructions must be communicated via email or recorded telephone lines.

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Disclaimer: Notwithstanding that Payments International executes transactions on the Client’s behalf within the Fulfillment Provider’s online platform, the regulated entity responsible for carrying out those transactions is the Fulfillment Provider. All contractual and regulatory obligations in relation to execution, settlement, and safeguarding of Client funds rests solely with the Fulfillment Provider.

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6. Limitation of Liability

6.1 Payments International will act with reasonable care in performing its role as introducing broker and programme manager.

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6.2 Payments International shall not be liable for any losses, damages, costs, or claims arising from the Fulfillment Provider’s actions or omissions in connection with the provision of the Services, including but not limited to execution of transactions or safeguarding of funds.

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6.3 IN NO EVENT SHALL PAYMENTS INTERNATIONAL BE LIABLE TO THE CLIENT, ITS REPRESENTATIVES OR TO ANY THIRD PARTY, FOR ANY INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES, OF WHATSOEVER NATURE (INCLUDING, BUT NOT LIMITED TO, LOST BUSINESS, LOST PROFITS, DAMAGE TO GOODWILL OR REPUTATION) WHETHER ARISING OUT  OF  BREACH OF CONTRACT, WARRANTY, TORT (INCLUDING  NEGLIGENCE, FAILURE TO WARN OR  STRICT  LIABILITY), CONTRIBUTION, INDEMNITY, SUBROGATION OR OTHERWISE.

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7. Data Protection

7.1 Payments International may collect and share your personal or business information with Fulfillment Provider solely for onboarding, compliance, and servicing purposes.

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7.2 Payments International will handle your information in accordance with applicable data protection laws.

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8. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Province of Ontario, Canada.  The parties hereby irrevocably attorn to the jurisdiction of the courts of the Province of Ontario located in Toronto, Ontario with respect to the adjudication of any matter relating to these Terms.

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Deemed Acknowledgement and Acceptance

‍By engaging in any payment and/or foreign currency exchange transaction conducted on a Fulfillment Provider’s platform, you are deemed to have accepted these Terms.

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