This is the AcexPay account opening agreement in full. Please read it before signing below.
This Agreement is made between AcexPay trading under SendNaa Inc. and the Client (the individual or corporate entity entering into this Agreement) (“Client”). Together, AcexPay trading under SendNaa Inc. and the Client are referred to as the “Parties”.
Recitals
- A. AcexPay operates a global online payment system providing payments, remittance, FX, card, and related financial services.
- B. The Client wishes to access and use these Services.
- C. These Terms and Conditions govern the Client’s use of the online payment system and all related Services.
“These are our general terms and conditions for all Clients… they form the terms of the agreement between you and AcexPay…”
1. Definitions
1.1 Capitalised terms used in this Agreement have the meanings set out below:
- “Online Payment System” – AcexPay’s proprietary platform and APIs used to deliver Services.
- “Client Access Methods” – Unique credentials issued to the Client.
- “Holding Balance” – Funds held by AcexPay as nominee for the Client pending Instructions.
- “Instruction” – Any request submitted by the Client for AcexPay to provide Services.
- “Foreign Currency Transaction” – Any FX purchase or sale executed pursuant to Client Instructions.
- “Settlement” – Total amount owed by the Client for a Transaction, including fees.
- “Services” – All financial and non-financial services provided by AcexPay.
2. Order of Precedence
2.1 In the event of conflict, the following order applies:
- (a) Written terms separately agreed between the Parties;
- (b) Specific service-level terms;
- (c) These General Terms and Conditions.
2.2 Where inconsistencies remain unresolved, AcexPay’s interpretation prevails.
“If there is any inconsistency… the most recent version available on the AcexPay website will prevail.”
3. Account Establishment
3.1 Upon registration, AcexPay shall issue Client Access Methods and establish a Holding Balance.
3.2 The Client shall ensure all information provided is complete, accurate, and updated within thirty (30) days of any change.
3.3 AcexPay may rely on any Instruction reasonably believed to be issued by the Client or its authorised representatives.
4. Instructions and Processing
4.1 A Transaction becomes binding once a transaction identification number is generated.
4.2 AcexPay shall initiate electronic transfers upon receipt of Settlement.
4.3 Fees may be amended at AcexPay’s discretion with notice.
4.4 AcexPay may refuse, suspend, or interpret Instructions where they appear fraudulent, unclear, unlawful, or expose AcexPay to risk.
5. AML / CFT Compliance
5.1 AcexPay shall act in accordance with all applicable laws relating to anti-money laundering, counter-terrorist financing, and sanctions.
5.2 AcexPay may delay, block, or refuse payments and may intercept or investigate any communication or transaction.
“AcexPay may intercept and investigate any payment… and may delay, block or refuse to make any payment…”
5.3 AcexPay shall not be liable for losses arising from compliance actions.
6. Foreign Currency Transactions
6.1 The Client must deposit full transferable funds prior to execution of any FX transaction.
6.2 FX transactions are non-refundable and cannot be reversed once executed.
“Client understands that a Foreign Currency Transaction… cannot be terminated or reversed.”
6.3 No rollovers are permitted.
6.4 If the Client requests cancellation prior to execution, AcexPay may unwind the transaction and deduct any resulting losses from the Holding Balance.
7. Licence to Use Online Payment System
7.1 AcexPay grants the Client a non-exclusive, non-transferable, non-sublicensable licence to use the Online Payment System solely for accessing Services.
7.2 The Client shall not reverse-engineer, decompile, distribute, or tamper with any part of the Online Payment System or API.
7.3 AcexPay may terminate access with 30 days’ notice, or immediately where required by law or due to misuse.
8. Security Obligations
8.1 The Client is solely responsible for safeguarding Client Access Methods.
8.2 Any Instruction submitted using the Client Access Methods shall be binding on the Client.
8.3 AcexPay may lock access upon detection of unauthorised attempts.
9. Holding Balances
9.1 Funds paid to AcexPay may be credited to a Holding Balance and commingled with other client funds.
9.2 AcexPay may deduct any amounts owed by the Client (including fees, losses, or liabilities) from the Holding Balance without prior notice.
“AcexPay may satisfy any liability… out of the Client’s funds… without prior notification…”
9.3 The Client remains liable for any outstanding amounts if the Holding Balance is insufficient.
10. Intellectual Property
10.1 All intellectual property in the Online Payment System, API, software, documentation, and related materials remains the exclusive property of SendNaa.
10.2 The Client may not reproduce, distribute, modify, or disclose any AcexPay IP except as expressly permitted.
11. Data Privacy and Confidentiality
11.1 AcexPay may collect, use, and disclose Confidential Information in accordance with its Data Privacy Notice and applicable laws.
11.2 AcexPay may disclose information to related companies, financial institutions, regulators, law enforcement, service providers, and authorised parties.
12. Indemnity and Limitation of Liability
12.1 The Client shall indemnify AcexPay for losses arising from breach, fraud, misuse, or failure to comply with this Agreement.
12.2 AcexPay’s liability is limited to the USD value of the relevant transaction or the fees paid for that transaction.
12.3 Nothing in this Agreement excludes liability where unlawful to do so.
13. Taxes
13.1 The Client is responsible for all applicable taxes relating to payments or Services.
13.2 GST/VAT may be charged where required by law.
14. Representations and Warranties
14.1 The Client warrants that it uses the Services for lawful business purposes, is not engaged in prohibited activities, has authority to enter this Agreement, and will comply with AML/CFT requirements.
14.2 AcexPay may terminate Services immediately for regulatory non-compliance or suspected illegal activity.
15. Dispute Resolution
15.1 Disputes shall first follow AcexPay’s Complaints Policy.
15.2 Unresolved disputes shall be referred to arbitration under the SIAC Rules, seated in Singapore, with one arbitrator and English as the governing language.
16. Miscellaneous
16.1 AcexPay may request beneficial ownership information at any time.
16.2 Confidentiality and licence obligations may be enforced through injunctive relief.
16.3 The Client may not assign this Agreement without AcexPay’s consent.
16.4 AcexPay may modify this Agreement at any time with notice.
16.5 Force Majeure events relieve AcexPay of liability.
16.6 Either Party may terminate this Agreement with notice.
16.7 The Parties are independent contractors.
16.8 This Agreement is governed by the laws of Canada
Your pricing schedule is provided with your quote.
