TERMS OF SERVICE
These Terms of Service (hereinafter referred to as the “Terms” or the “Agreement”) are effective as of 01 May 2024.=
1. Introduction
These Terms represent an agreement between you (hereinafter referred to as “You”, “Yourself” or “User”) and Advanced Payment Solutions Canada Inc., a company incorporated under the laws of Canada, British Columbia, under its incorporation number BC1356972, operating as a Money Services Business authorised and regulated by FINTRAC with license number M22483616, (hereinafter referred to as “APS” or “We” or “Us”).
This Agreement will govern the use of the Services provided by APS. By using the APS Services, You agree to be bound by the Terms. If You do not agree to any of the terms in this Agreement, or any subsequent modification to this Agreement, You will not be permitted to use the Services and Your APS Account with Us will be closed. This Agreement will come into effect when You confirm electronically that You agree to it.
You understand, acknowledge and accept the following DISCLAIMERS:
Use of Virtual Currency(ies) may be illegal in some jurisdictions. It is Your responsibility to know the regulatory requirements concerning transactions with Virtual Currency(ies) in Your jurisdiction before using the APS Services.
The risk of loss in trading or holding any Virtual Currency(ies) can be substantial. You should therefore carefully consider whether trading or holding Virtual Currency(ies) is suitable for You in light of Your financial condition. In considering whether to trade or hold Virtual Currency(ies), You should be aware that the price or value of Virtual Currency(ies) can change rapidly, decrease, and potentially even fall to zero.
You acknowledge that APS is not responsible for safeguarding or holding your Virtual Currency(ies), or any private keys or other security information to access your Virtual Currency(ies) and that APS is not responsible for any loss of Virtual Currency(ies) resulting from theft, loss, or mishandling of Virtual Currency(ies) private keys or other security information outside its control.
Every purchase and sale of Virtual Currency(ies) is effected on and confirmed by the respective network of that Virtual Currency(ies).
APS does not provide investment or any other financial advice.
2. Terms and Definitions. Interpretation
2.1. In these Terms:
“APS Account” means an online account created by You in order to access the APS Services;
“APS Fees” means the fees charged by APS for providing APS Services;
“APS Services” means payment processing services that enable Users to receive Virtual Currency(ies) and/or Fiat Currencies and payment related services via APS Account as described herein;
“APS Website” means the official website of APS www.aps.money;
“Business Day” means any calendar day, except Saturday and Sunday, or any other day defined by APS and in duly manner notified to the User;
“CAD” means Canadian Dollars, the lawful currency of Canada;
“DD” and “KYC Verification” means measures applied by APS for the purposes of prevention of money laundering and terrorism financing subject to mandatory binding requirements of applicable Anti-Money Laundering and Counter Terrorism Financing (“AML/CTF”) acts and regulations;
“Deposit” means initiation of purchasing Virtual Currency(ies) using supported Fiat Currency via APS Account;
“E-Wallet” means a secured digital facility in which Fiat Currency or Virtual Currency(ies) are held;
“Fiat Currency” means money that a government has issued and declared to be legal tender but that is not backed by a physical commodity like gold (which means that its value is not derived from the material from which it is made);
“FINTRAC” means the Financial Transactions and Reports Analysis Centre of Canada that is the Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor;
“GDPR” means Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation);
“KYT” means a process used by APS to monitor and track financial transactions in order to detect and prevent fraudulent or criminal activity, such as money laundering or terrorist financing;
“Liquidity Partner” means a legal entity that supplies a decentralized finance platform with capital in the form of Fiat Currency(ies) and/or Virtual Currency(ies);
“Order” means the instruction given by You to APS via the APS Account or email or instant message for the purpose of carrying out a Transaction;
“Partner” means any third party who refer You to APS in order to use APS Services;
“Partner Platform” means any Partner’s mobile application, website, any other platform;
“Payment Method” means a payment option available to the User to make relevant payments for the Transaction to be completed;
“PCMLTFA” means Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17) in Canada;
“Personal Information” has the meaning provided in the Privacy and Cookie Policy published on the APS Website;
“PIPEDA” has the meaning provided in the Privacy and Cookie Policy published on the APS Website;
“Price” means an amount that the User shall pay to an account and/or E-Wallet and/or any other online platform and/or online and/or bank account designated by APS and that consists of an exchange rate notified by APS to the User and APS Fees;
“Privacy and Cookie Policy” means APS internal privacy procedures regarding Personal Information established based on the PIPEDA and published on the APS Website;
“Risk Factor(s)” means any irregularities detected during DD and/or KYC Verification and/or KYT, including but not limited to User related red flags, transaction related red flags, transaction pattern red flags, source of funds or wealth red flags, anonymity related red flags, geographic risk-related red flags, etc.;
“Transaction” means Deposit or Withdrawal;
“User” means a natural person who meets the requirements specified in section 4 on whose name the APS Account is opened;
“User Authentication” means a procedure, that also includes DD and KYC Verification (where applicable), which allows APS to verify the identity of the User and/or the validity of the use of APS Services;
“User Registration” means the creation of APS Account by the User;
“Virtual Currency(ies)” mean a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology;
“Withdrawal” means initiation of selling Virtual Currency(ies) to receive Fiat Currency via APS Account.
2.2. Interpretation
In these Terms, unless the context otherwise requires:
(a) headings do not affect interpretation;
(b) a reference to a word includes the singular and the plural of the word and vice versa;
(c) if a word or phrase is defined, then other parts of speech and grammatical forms of that word or phrase have a corresponding meaning;
(d) reference to legislation or to any provision of any legislation including any amendment and/or modification or re-enactment thereof, any legislative provision substituted thereof and all regulations and statutory instruments issued thereunder or pursuant thereto;
(e) a provision must not be construed against a party only because that party drafted the provision or put the provision forward;
(f) a reference to a document includes a reference to that document as amended, novated, supplemented, varied or replaced;
(g) references to time means time in Canada, British Columbia (GMT-7);
(h) the meaning of general words or provisions shall not be limited by references to specific matters that follow them (for example, introduced by words such as “including” or “in particular”) or precede them or are included elsewhere in these Terms.
3. APS Services and Regulation
3.1. APS is a payment services provider that allows Users to send and receive Transactions using the app, the website, or by giving instructions to APS staff over email or instant message. Transactions may be conducted in both Fiat Currency and/or Virtual Currency(ies).
3.2. APS does not provide:
(a) ATM services;
(b) Cash services in any form;
(c) Custody of Virtual Currency(ies);
(d) Listing of Virtual Currency(ies);
(e) Interaction with privacy tokens in any form;
(f) Crypto tumbler/mixer services in any form, or
(g) Any service other than payment and remittance services.
3.3. APS, acting as a payment service provider, facilitates the acceptance and transfer of Fiat Currency and Virtual Currency(ies) that are supported by Our Liquidity Partners and not specifically regulated/forbidden by regulatory authorities in jurisdictions that We have a presence in.
3.4. APS is subject to Canadian laws as a Money Services Business and global regulations, and guidelines. In addition, We embrace and strive towards best practices in related fields such as e-commerce guidelines, those administered by fiat currency payment schemes and regulatory agencies, and our own internal risk appetite. Specifically, APS has reporting and identification guidelines under FINTRAC in Canada for activities undertaken by our Canadian entity. This includes client identification, monitoring, and reporting of any eligible transactions. For any card transactions that fund our wallet or app products, APS acts as Merchant of Record when processing payments and as such is subject to best practices as an e-commerce retailer, note that there is no governing body or payment scheme governing the activities of e-commerce merchants accepting Virtual Currency(ies) as a payment method. We strive to adhere to best practices identified in e-commerce in traditional finance.
Additionally, APS abides by the Privacy and Cookie Policy, and global privacy legislation such as the GDPR with regard to data subjects and their personally identifying information.
4. Eligibility
To be eligible to use APS Services, any User shall:
(a) be at least 18 years old;
(b) have sufficient capacity to enter into legally binding contracts;
(c) reside in a country where APS Services are legit and accessible, and
(d) be willing to provide APS any necessary documents for DD and/or KYC Verification.
5. User Registration and Authentication
5.1. The User who wants to start using APS Services shall create an APS Account by providing User’s name, email address, phone number and/or any other information/documentation requested by APS. The User shall accept the Terms and the Privacy and Cookie Policy prior to using the APS Services.
5.2. The User shall receive a notification about confirmation of the APS Account via the email address which has been specified during the User Registration. This email address should be considered as registered User’s email, and APS shall conduct all further communication via this email. In case the User communicates with APS by means of another email address, APS reserves the right to recognize such communication as null and void, till the new email address is notified and registered with APS in proper manner.
5.3. The APS Account is personal and only its owner, i.e., the User, has the right to use it. By using APS Services, You agree and represent that You will use the APS Services only for Yourself, and not on behalf of any third party. Upon successful completion of the registration process, APS will establish Your Account. You are fully responsible for all activity that occurs under Your APS Account. APS may, at its sole discretion, refuse to open an APS Account for You, or limit the number of APS Accounts that You may hold or suspend or terminate any APS Account, and are not required to provide You with the reasons for taking any such action.
5.4. You shall provide APS with the information that is requested for the User Authentication purposes and permit APS to keep a record of such information. You shall complete the User Authentication process before You are permitted to start using the APS Account.
5.5. The information APS requests within the Authentication process may include certain personal information including, but not limited to, Your name, date of birth, postal address, verified email address, occupation, telephone number, identification document number, proof of residence/address and other necessary information. The nature and extent of the information You are required to provide may differ based on the APS Services provided to You, the means of payment You use, the Transaction amount and/or any other relatable factors.
5.6. In providing APS with the indicated information or any other information that may be required, You confirm that the information is accurate and correct, and You agree to keep Us updated if any of the information You provide changes. We will treat this Personal Information in accordance with the Privacy and Cookie Policy.
5.7. APS has the right to demand for the submitted copies of the DD or KYC Verification documents to be certified by a notary/certifying officer and/or to be certified with apostille and translated into English. All documents and information are prepared and provided at the expense of the User.
5.8. You authorise APS to make enquiries, whether directly or through third parties, that APS considers necessary to verify Your identity or protect You and/or APS against fraud or other financial crime, and to take action APS reasonably deems necessary based on the results of such inquiries. When APS carries out these enquiries, You acknowledge and agree that Your Personal Information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to APS enquiries in full. This is an identity check only and should have no adverse effect on Your credit rating.
5.9. Failure to provide any DD or KYC Verification information within a reasonable time specified by APS that APS reasonably requests from You pursuant to PCMLTFA or any other applicable (AML/CTF) acts and regulations after You have become a User allows APS to suspend the provision of APS Services to You (including access to your APS Account) and/or to terminate this Agreement.
5.10. Where You are referred to APS by our Partners via Partner Platforms, You will still be required to register for an APS Account and this Agreement will apply in full irrespective of any other terms You sign up to with our Partners.
6. Enhanced DD
6.1. The use of all APS Services is subject to a limit on the volume, stated in CAD or other Fiat Currency you may transact or transfer in a given period.
6.2. Transaction limits may vary depending on the payment method, KYC Verification steps You have completed and other factors.
6.3. APS reserves the right to change applicable limits as APS deems necessary and where possible will provide advance notice to You, although in some cases this will not be possible, and You will be informed after any changes to the applicable limits have taken place.
6.4. APS may require You to submit additional information about Yourself (including but not limited to financial information, information about the country of residence, etc.) if:
(a) the cumulative volume of the Transactions of the User is 100,000.00 CAD (one hundred thousand Canadian Dollars) or more; or
(b) the volume of one Transaction is 100,000.00 CAD (one hundred thousand Canadian Dollars) or more; or
(c) APS identifies any Risk Factor; (“Enhanced DD”).
7. APS Account Operation
7.1. APS Account Opening
(a) APS has an obligation to identify the Users in line with the PCMLTFA in Canada. As such, at APS Account opening We require DD and KYC Verification information as indicated in sections 5 and 6 of the Terms.
(b) APS Account is opened for an indefinite period of time.
7.2. APS Account Maintenance
(a) APS Account allows Users to initiate Transactions by submitting Orders in the manner indicated in Section 8 of the Terms.
(b) APS may impose, at its sole discretion and with or without notice to You, limits and caps on Your Transaction processing including transaction size limits, both minimum and maximum, daily processing volumes, velocity controls, automated Virtual Currency(ies) forensics and others.
(c) APS Account interface allows the User to check APS Account balance and transaction history, including fees and charges applied. The User is advised to pay careful attention to the list of Transactions executed.
(d) You are solely responsible for the security of Your APS Account credentials. We recommend You choose a unique and strong password that You do not use for any other service. Additionally, We recommend that You change Your password regularly and implement two factor authentication where possible.
(e) If You believe that Your APS Account has been compromised and any Orders and/or Transactions were not requested/conducted by You it is Your responsibility to notify APS immediately. You acknowledge that You are responsible for all Orders requested and all Transactions conducted on Your APS Account. APS accepts no liability, financial or otherwise, for any Orders and/or Transactions that are requested and/or conducted due to Your inability or unwillingness to employ safe computing and access practices.
7.3. APS Account Suspension and Termination
(a) We may close Your APS Account at any time at Our sole discretion with or without notice to You. If Your APS Account, and activity, is placed under review and investigation by Our Risk or Compliance teams You are required to comply with requests under said investigation. Failure to comply with requests from our Compliance team will result in immediate suspension and/or termination of Your APS Account.
(b) Similarly, Your APS Account may be closed if You carry a negative balance and do not make efforts to rectify this. Additionally, abuse of Our staff is not tolerated under any circumstances and will result in immediate termination of Your APS Account.
(c) You have the right to request to close Your APS Account at any given time.
(d) Closing Your APS Account does not eliminate or absolve You of responsibility for APS Fees, non-circumvention, non-disclosure, or other obligations under this Agreement.
(e) If Your APS Account is closed for any reason with a balance and You do not contact Us or respond to Our attempts to contact You for a period of 365 (three hundred sixty-five) days from the date of Your APS Account closure, Your balance may be liquidated without further notice to You.
(f) Where Your APS Account has been dormant for a period of 730 (seven hundred thirty) days without a login attempt, Order, Transaction, correspondence with Us or reply to Our correspondence and contact attempts to You, Your balance may be liquidated without further notice to You. In instances of liquidation of balances, We will adjust Your APS Account to a zero balance, close Your APS Account if not already closed and add the funds to Our revenues/treasury.
8. Transaction Process and Transaction Monitoring
8.1. In order to initiate either a Deposit or a Withdrawal the User shall submit the Order through APS Account or over email or instant message.
8.2. Once APS receives the Order, APS shall notify the User of the following:
(a) for Deposits, an exchange rate for Fiat Currency to Virtual Currency(ies) (plus any APS Fees), and
(b) for Withdrawals, an exchange rate for Virtual Currency(ies) to Fiat Currency (plus any APS Fees).
8.3. APS may change or cancel any Order that is not confirmed by the User within 5 (five) minutes from the moment APS notified the Price to the User. By confirming the Order, the User authorizes APS to execute the Order and process the Transaction at the Price.
8.4. In order for APS to process the Transaction the User shall immediately transfer the Price to an account and/or E-Wallet and/or any other online platform and/or online and/or bank account designated by APS and notified to the User through APS Account or over email or instant message.
8.5. Once the Price is transferred and the relevant payment confirmation is received by APS, APS shall process the Transaction and enable the Virtual Currency(ies) and/or Fiat Currency to be deposited to an account and/or E-Wallet and/or any other online platform and/or online and/or bank account designated by the User and notified to APS through APS Account or over email or instant message.
8.6. APS will provide the User either through APS Account or via email or instant message, with a transaction confirmation/transaction report, detailing the particulars of the respective transaction.
8.7. APS may, at any time, cancel or deny processing any Order and/or Transaction, with immediate effect, for any reason, including where APS:
(a) is required to do so by law;
(b) reasonably believes that APS needs to do so in order to protect APS interests; or
(c) reasonably suspects the Order or Transaction involves illegal activity including money laundering, terrorist financing, fraud, or any crime (financial or otherwise).
8.8. You acknowledge and agree that Your Transactions are monitored. In case APS identifies any Risk Factors after the Transaction is completed, APS reserves the right to terminate this Agreement with immediate effect.
9. Cancellation and Refunds
9.1. You acknowledge and agree that any Order or Transaction that is considered confirmed or completed cannot be canceled, changed, or reversed unless otherwise provided in these Terms.
9.2. Unsuccessful payments
(a) If your Payment Method is declined, whether due to insufficient funds or deemed unsuccessful for any other reason, APS may:
– cancel the Transaction;
– fulfil a portion of the Transaction; or
– use alternative Payment Methods provided by You, in the amount necessary to complete a pending Transaction.
(b) If APS cancels the Transaction and/or fulfils a portion of the Transaction, You may be requested to confirm an account and/or E-Wallet and/or any other online platform and/or online and/or bank account in order for APS to proceed with a refund.
9.3. APS does not provide any refunds on confirmed Orders or completed Transactions.
9.4. Please also note that Transactions are irreversible. It is Your sole responsibility to be vigilant of any fraud or mistake. APS will not take responsibility to issue refunds, regardless of whether You were the victim of fraud and/or mistake or any other circumstances beyond control of APS.
9.5. You acknowledge and agree that fees incurred via third parties (e.g., Your bank, for certain transfers such as wire transfers; or Our service providers, e.g., for certain processing fees) may not be capable of being refunded, either in whole or in part, by Us in the case of a cancellation or refund under this Section.
10. Use of APS Services
10.1. Prohibited Uses
APS does not knowingly engage with, support, or otherwise facilitate payments for any illegal or illicit purpose at any time. This list will be updated on a regular basis and, where an activity that You engage in becomes regulated or illegal APS may suspend or terminate Your access to APS Services at any time. Prohibited and forbidden uses of our services are determined by Us in our sole discretion and any cessation, suspension, or termination of APS Services due to prohibited products or activities is final.
(a) Illegal Activity: Services or products which are expressly prohibited in Your jurisdiction.
(b) DDoS, Doxxing, or Similar Services: We expressly forbid payments for services of this nature as they target infrastructure and systems of organizations or persons. Additionally, these actions may constitute crimes and may deprive the targets of the use of their infrastructure and/or place them at risk of physical harm.
(c) Defamation, Libel, Harassment, Stalking, or “Spyware”: Products or services that violate the privacy of others or make statements which may be untrue and/or harmful are explicitly prohibited.
(d) Fraud: Any action or service which operates under false pretense or false representation to enrich the User, entity or person at the expense of others.
(e) Copyright Infringement, Replicas, Pirate Software: Any product or service which distributes software counter to licensing agreements, infringes on copyrights, or creates false/fraudulent replicas of replica and/or name brand products is explicitly prohibited.
The above specific types of use are representative, but not exhaustive, of Prohibited Uses. If You are unsure as to whether Your use of any APS Services involves a Prohibited Use, or have any questions about how these requirements apply to You, please contact Us. By accessing or using any APS Services, You confirm that You will not use any APS Services for a Prohibited Use.
10.2. Prohibited Business Types
The following products and industries are precluded from access to APS Services in any ways:
(a) Illicit drugs including pharmaceuticals;
(b) Marijuana, psilocybin and other drugs except where licensed by the Federal government in your jurisdiction;
(c) Guns, ammunition, and other weapons;
(d) Chemicals including “research chemicals”, “peptides”, “bath salts” and other products of this nature;
(e) Illegal pornography;
(f) Child abuse material including products that sexualize minors;
(g) Multi level marketing;
(h) Financial services that require a license where the User does not have the license required;
(i) Credit repair;
(j) Debt collection;
(k) Government grant assistance;
(l) Travel and work visa assistance;
(m) Peer to peer transactions;
(n) Binary options;
(o) Contracts for difference;
(p) Shell banks;
(q) Incorporation services.
The above specific types of business are representative, but not exhaustive, of Prohibited Business Types. If You are unsure as to whether Your business is a Prohibited Business or have any questions about how these requirements apply to You, please contact Us. By accessing or using any APS Services, You confirm that You will not use any APS Services for Prohibited Business Types.
10.3. Restricted Business Types
The following business types are only accepted after the completion of Enhanced DD and only with express written approval of APS executive. Note that any businesses of the below types will be subject to probationary controls including processing caps, settlement restrictions and ongoing monitoring.
(a) Charities;
(b) Low income housing development;
(c) Religious organizations;
(d) Money services businesses;
(e) Online financial services such as e-Wallets, prepaid credit cards, financial applications and others;
(f) Currency exchange;
(g) Licensed financial activities such as Virtual Currency(ies) exchanges;
(h) Lotteries and gaming;
(i) eSports;
(j) Fantasy sports;
(k) Legal services.
The above specific types of business are representative, but not exhaustive, of Restricted Business Types. If You are unsure as to whether Your business is a restricted Business or have any questions about how these requirements apply to You, please contact Us. By accessing or using any APS Services, You confirm that You will not use any APS Services for Restricted Business Types without the completion of Enhanced DD and express written approval of APS executive.
These Terms of Service (hereinafter referred to as the “Terms” or the “Agreement”) are effective as of 01 May 2024.=
1. Introduction
These Terms represent an agreement between you (hereinafter referred to as “You”, “Yourself” or “User”) and Advanced Payment Solutions Canada Inc., a company incorporated under the laws of Canada, British Columbia, under its incorporation number BC1356972, operating as a Money Services Business authorised and regulated by FINTRAC with license number M22483616, (hereinafter referred to as “APS” or “We” or “Us”).
This Agreement will govern the use of the Services provided by APS. By using the APS Services, You agree to be bound by the Terms. If You do not agree to any of the terms in this Agreement, or any subsequent modification to this Agreement, You will not be permitted to use the Services and Your APS Account with Us will be closed. This Agreement will come into effect when You confirm electronically that You agree to it.
You understand, acknowledge and accept the following DISCLAIMERS:
Use of Virtual Currency(ies) may be illegal in some jurisdictions. It is Your responsibility to know the regulatory requirements concerning transactions with Virtual Currency(ies) in Your jurisdiction before using the APS Services.
The risk of loss in trading or holding any Virtual Currency(ies) can be substantial. You should therefore carefully consider whether trading or holding Virtual Currency(ies) is suitable for You in light of Your financial condition. In considering whether to trade or hold Virtual Currency(ies), You should be aware that the price or value of Virtual Currency(ies) can change rapidly, decrease, and potentially even fall to zero.
You acknowledge that APS is not responsible for safeguarding or holding your Virtual Currency(ies), or any private keys or other security information to access your Virtual Currency(ies) and that APS is not responsible for any loss of Virtual Currency(ies) resulting from theft, loss, or mishandling of Virtual Currency(ies) private keys or other security information outside its control.
Every purchase and sale of Virtual Currency(ies) is effected on and confirmed by the respective network of that Virtual Currency(ies).
APS does not provide investment or any other financial advice.
2. Terms and Definitions. Interpretation
2.1. In these Terms:
“APS Account” means an online account created by You in order to access the APS Services;
“APS Fees” means the fees charged by APS for providing APS Services;
“APS Services” means payment processing services that enable Users to receive Virtual Currency(ies) and/or Fiat Currencies and payment related services via APS Account as described herein;
“APS Website” means the official website of APS www.aps.money;
“Business Day” means any calendar day, except Saturday and Sunday, or any other day defined by APS and in duly manner notified to the User;
“CAD” means Canadian Dollars, the lawful currency of Canada;
“DD” and “KYC Verification” means measures applied by APS for the purposes of prevention of money laundering and terrorism financing subject to mandatory binding requirements of applicable Anti-Money Laundering and Counter Terrorism Financing (“AML/CTF”) acts and regulations;
“Deposit” means initiation of purchasing Virtual Currency(ies) using supported Fiat Currency via APS Account;
“E-Wallet” means a secured digital facility in which Fiat Currency or Virtual Currency(ies) are held;
“Fiat Currency” means money that a government has issued and declared to be legal tender but that is not backed by a physical commodity like gold (which means that its value is not derived from the material from which it is made);
“FINTRAC” means the Financial Transactions and Reports Analysis Centre of Canada that is the Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor;
“GDPR” means Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation);
“KYT” means a process used by APS to monitor and track financial transactions in order to detect and prevent fraudulent or criminal activity, such as money laundering or terrorist financing;
“Liquidity Partner” means a legal entity that supplies a decentralized finance platform with capital in the form of Fiat Currency(ies) and/or Virtual Currency(ies);
“Order” means the instruction given by You to APS via the APS Account or email or instant message for the purpose of carrying out a Transaction;
“Partner” means any third party who refer You to APS in order to use APS Services;
“Partner Platform” means any Partner’s mobile application, website, any other platform;
“Payment Method” means a payment option available to the User to make relevant payments for the Transaction to be completed;
“PCMLTFA” means Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17) in Canada;
“Personal Information” has the meaning provided in the Privacy and Cookie Policy published on the APS Website;
“PIPEDA” has the meaning provided in the Privacy and Cookie Policy published on the APS Website;
“Price” means an amount that the User shall pay to an account and/or E-Wallet and/or any other online platform and/or online and/or bank account designated by APS and that consists of an exchange rate notified by APS to the User and APS Fees;
“Privacy and Cookie Policy” means APS internal privacy procedures regarding Personal Information established based on the PIPEDA and published on the APS Website;
“Risk Factor(s)” means any irregularities detected during DD and/or KYC Verification and/or KYT, including but not limited to User related red flags, transaction related red flags, transaction pattern red flags, source of funds or wealth red flags, anonymity related red flags, geographic risk-related red flags, etc.;
“Transaction” means Deposit or Withdrawal;
“User” means a natural person who meets the requirements specified in section 4 on whose name the APS Account is opened;
“User Authentication” means a procedure, that also includes DD and KYC Verification (where applicable), which allows APS to verify the identity of the User and/or the validity of the use of APS Services;
“User Registration” means the creation of APS Account by the User;
“Virtual Currency(ies)” mean a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology;
“Withdrawal” means initiation of selling Virtual Currency(ies) to receive Fiat Currency via APS Account.
2.2. Interpretation
In these Terms, unless the context otherwise requires:
(a) headings do not affect interpretation;
(b) a reference to a word includes the singular and the plural of the word and vice versa;
(c) if a word or phrase is defined, then other parts of speech and grammatical forms of that word or phrase have a corresponding meaning;
(d) reference to legislation or to any provision of any legislation including any amendment and/or modification or re-enactment thereof, any legislative provision substituted thereof and all regulations and statutory instruments issued thereunder or pursuant thereto;
(e) a provision must not be construed against a party only because that party drafted the provision or put the provision forward;
(f) a reference to a document includes a reference to that document as amended, novated, supplemented, varied or replaced;
(g) references to time means time in Canada, British Columbia (GMT-7);
(h) the meaning of general words or provisions shall not be limited by references to specific matters that follow them (for example, introduced by words such as “including” or “in particular”) or precede them or are included elsewhere in these Terms.
3. APS Services and Regulation
3.1. APS is a payment services provider that allows Users to send and receive Transactions using the app, the website, or by giving instructions to APS staff over email or instant message. Transactions may be conducted in both Fiat Currency and/or Virtual Currency(ies).
3.2. APS does not provide:
(a) ATM services;
(b) Cash services in any form;
(c) Custody of Virtual Currency(ies);
(d) Listing of Virtual Currency(ies);
(e) Interaction with privacy tokens in any form;
(f) Crypto tumbler/mixer services in any form, or
(g) Any service other than payment and remittance services.
3.3. APS, acting as a payment service provider, facilitates the acceptance and transfer of Fiat Currency and Virtual Currency(ies) that are supported by Our Liquidity Partners and not specifically regulated/forbidden by regulatory authorities in jurisdictions that We have a presence in.
3.4. APS is subject to Canadian laws as a Money Services Business and global regulations, and guidelines. In addition, We embrace and strive towards best practices in related fields such as e-commerce guidelines, those administered by fiat currency payment schemes and regulatory agencies, and our own internal risk appetite. Specifically, APS has reporting and identification guidelines under FINTRAC in Canada for activities undertaken by our Canadian entity. This includes client identification, monitoring, and reporting of any eligible transactions. For any card transactions that fund our wallet or app products, APS acts as Merchant of Record when processing payments and as such is subject to best practices as an e-commerce retailer, note that there is no governing body or payment scheme governing the activities of e-commerce merchants accepting Virtual Currency(ies) as a payment method. We strive to adhere to best practices identified in e-commerce in traditional finance.
Additionally, APS abides by the Privacy and Cookie Policy, and global privacy legislation such as the GDPR with regard to data subjects and their personally identifying information.
4. Eligibility
To be eligible to use APS Services, any User shall:
(a) be at least 18 years old;
(b) have sufficient capacity to enter into legally binding contracts;
(c) reside in a country where APS Services are legit and accessible, and
(d) be willing to provide APS any necessary documents for DD and/or KYC Verification.
5. User Registration and Authentication
5.1. The User who wants to start using APS Services shall create an APS Account by providing User’s name, email address, phone number and/or any other information/documentation requested by APS. The User shall accept the Terms and the Privacy and Cookie Policy prior to using the APS Services.
5.2. The User shall receive a notification about confirmation of the APS Account via the email address which has been specified during the User Registration. This email address should be considered as registered User’s email, and APS shall conduct all further communication via this email. In case the User communicates with APS by means of another email address, APS reserves the right to recognize such communication as null and void, till the new email address is notified and registered with APS in proper manner.
5.3. The APS Account is personal and only its owner, i.e., the User, has the right to use it. By using APS Services, You agree and represent that You will use the APS Services only for Yourself, and not on behalf of any third party. Upon successful completion of the registration process, APS will establish Your Account. You are fully responsible for all activity that occurs under Your APS Account. APS may, at its sole discretion, refuse to open an APS Account for You, or limit the number of APS Accounts that You may hold or suspend or terminate any APS Account, and are not required to provide You with the reasons for taking any such action.
5.4. You shall provide APS with the information that is requested for the User Authentication purposes and permit APS to keep a record of such information. You shall complete the User Authentication process before You are permitted to start using the APS Account.
5.5. The information APS requests within the Authentication process may include certain personal information including, but not limited to, Your name, date of birth, postal address, verified email address, occupation, telephone number, identification document number, proof of residence/address and other necessary information. The nature and extent of the information You are required to provide may differ based on the APS Services provided to You, the means of payment You use, the Transaction amount and/or any other relatable factors.
5.6. In providing APS with the indicated information or any other information that may be required, You confirm that the information is accurate and correct, and You agree to keep Us updated if any of the information You provide changes. We will treat this Personal Information in accordance with the Privacy and Cookie Policy.
5.7. APS has the right to demand for the submitted copies of the DD or KYC Verification documents to be certified by a notary/certifying officer and/or to be certified with apostille and translated into English. All documents and information are prepared and provided at the expense of the User.
5.8. You authorise APS to make enquiries, whether directly or through third parties, that APS considers necessary to verify Your identity or protect You and/or APS against fraud or other financial crime, and to take action APS reasonably deems necessary based on the results of such inquiries. When APS carries out these enquiries, You acknowledge and agree that Your Personal Information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to APS enquiries in full. This is an identity check only and should have no adverse effect on Your credit rating.
5.9. Failure to provide any DD or KYC Verification information within a reasonable time specified by APS that APS reasonably requests from You pursuant to PCMLTFA or any other applicable (AML/CTF) acts and regulations after You have become a User allows APS to suspend the provision of APS Services to You (including access to your APS Account) and/or to terminate this Agreement.
5.10. Where You are referred to APS by our Partners via Partner Platforms, You will still be required to register for an APS Account and this Agreement will apply in full irrespective of any other terms You sign up to with our Partners.
6. Enhanced DD
6.1. The use of all APS Services is subject to a limit on the volume, stated in CAD or other Fiat Currency you may transact or transfer in a given period.
6.2. Transaction limits may vary depending on the payment method, KYC Verification steps You have completed and other factors.
6.3. APS reserves the right to change applicable limits as APS deems necessary and where possible will provide advance notice to You, although in some cases this will not be possible, and You will be informed after any changes to the applicable limits have taken place.
6.4. APS may require You to submit additional information about Yourself (including but not limited to financial information, information about the country of residence, etc.) if:
(a) the cumulative volume of the Transactions of the User is 100,000.00 CAD (one hundred thousand Canadian Dollars) or more; or
(b) the volume of one Transaction is 100,000.00 CAD (one hundred thousand Canadian Dollars) or more; or
(c) APS identifies any Risk Factor; (“Enhanced DD”).
7. APS Account Operation
7.1. APS Account Opening
(a) APS has an obligation to identify the Users in line with the PCMLTFA in Canada. As such, at APS Account opening We require DD and KYC Verification information as indicated in sections 5 and 6 of the Terms.
(b) APS Account is opened for an indefinite period of time.
7.2. APS Account Maintenance
(a) APS Account allows Users to initiate Transactions by submitting Orders in the manner indicated in Section 8 of the Terms.
(b) APS may impose, at its sole discretion and with or without notice to You, limits and caps on Your Transaction processing including transaction size limits, both minimum and maximum, daily processing volumes, velocity controls, automated Virtual Currency(ies) forensics and others.
(c) APS Account interface allows the User to check APS Account balance and transaction history, including fees and charges applied. The User is advised to pay careful attention to the list of Transactions executed.
(d) You are solely responsible for the security of Your APS Account credentials. We recommend You choose a unique and strong password that You do not use for any other service. Additionally, We recommend that You change Your password regularly and implement two factor authentication where possible.
(e) If You believe that Your APS Account has been compromised and any Orders and/or Transactions were not requested/conducted by You it is Your responsibility to notify APS immediately. You acknowledge that You are responsible for all Orders requested and all Transactions conducted on Your APS Account. APS accepts no liability, financial or otherwise, for any Orders and/or Transactions that are requested and/or conducted due to Your inability or unwillingness to employ safe computing and access practices.
7.3. APS Account Suspension and Termination
(a) We may close Your APS Account at any time at Our sole discretion with or without notice to You. If Your APS Account, and activity, is placed under review and investigation by Our Risk or Compliance teams You are required to comply with requests under said investigation. Failure to comply with requests from our Compliance team will result in immediate suspension and/or termination of Your APS Account.
(b) Similarly, Your APS Account may be closed if You carry a negative balance and do not make efforts to rectify this. Additionally, abuse of Our staff is not tolerated under any circumstances and will result in immediate termination of Your APS Account.
(c) You have the right to request to close Your APS Account at any given time.
(d) Closing Your APS Account does not eliminate or absolve You of responsibility for APS Fees, non-circumvention, non-disclosure, or other obligations under this Agreement.
(e) If Your APS Account is closed for any reason with a balance and You do not contact Us or respond to Our attempts to contact You for a period of 365 (three hundred sixty-five) days from the date of Your APS Account closure, Your balance may be liquidated without further notice to You.
(f) Where Your APS Account has been dormant for a period of 730 (seven hundred thirty) days without a login attempt, Order, Transaction, correspondence with Us or reply to Our correspondence and contact attempts to You, Your balance may be liquidated without further notice to You. In instances of liquidation of balances, We will adjust Your APS Account to a zero balance, close Your APS Account if not already closed and add the funds to Our revenues/treasury.
8. Transaction Process and Transaction Monitoring
8.1. In order to initiate either a Deposit or a Withdrawal the User shall submit the Order through APS Account or over email or instant message.
8.2. Once APS receives the Order, APS shall notify the User of the following:
(a) for Deposits, an exchange rate for Fiat Currency to Virtual Currency(ies) (plus any APS Fees), and
(b) for Withdrawals, an exchange rate for Virtual Currency(ies) to Fiat Currency (plus any APS Fees).
8.3. APS may change or cancel any Order that is not confirmed by the User within 5 (five) minutes from the moment APS notified the Price to the User. By confirming the Order, the User authorizes APS to execute the Order and process the Transaction at the Price.
8.4. In order for APS to process the Transaction the User shall immediately transfer the Price to an account and/or E-Wallet and/or any other online platform and/or online and/or bank account designated by APS and notified to the User through APS Account or over email or instant message.
8.5. Once the Price is transferred and the relevant payment confirmation is received by APS, APS shall process the Transaction and enable the Virtual Currency(ies) and/or Fiat Currency to be deposited to an account and/or E-Wallet and/or any other online platform and/or online and/or bank account designated by the User and notified to APS through APS Account or over email or instant message.
8.6. APS will provide the User either through APS Account or via email or instant message, with a transaction confirmation/transaction report, detailing the particulars of the respective transaction.
8.7. APS may, at any time, cancel or deny processing any Order and/or Transaction, with immediate effect, for any reason, including where APS:
(a) is required to do so by law;
(b) reasonably believes that APS needs to do so in order to protect APS interests; or
(c) reasonably suspects the Order or Transaction involves illegal activity including money laundering, terrorist financing, fraud, or any crime (financial or otherwise).
8.8. You acknowledge and agree that Your Transactions are monitored. In case APS identifies any Risk Factors after the Transaction is completed, APS reserves the right to terminate this Agreement with immediate effect.
9. Cancellation and Refunds
9.1. You acknowledge and agree that any Order or Transaction that is considered confirmed or completed cannot be canceled, changed, or reversed unless otherwise provided in these Terms.
9.2. Unsuccessful payments
(a) If your Payment Method is declined, whether due to insufficient funds or deemed unsuccessful for any other reason, APS may:
– cancel the Transaction;
– fulfil a portion of the Transaction; or
– use alternative Payment Methods provided by You, in the amount necessary to complete a pending Transaction.
(b) If APS cancels the Transaction and/or fulfils a portion of the Transaction, You may be requested to confirm an account and/or E-Wallet and/or any other online platform and/or online and/or bank account in order for APS to proceed with a refund.
9.3. APS does not provide any refunds on confirmed Orders or completed Transactions.
9.4. Please also note that Transactions are irreversible. It is Your sole responsibility to be vigilant of any fraud or mistake. APS will not take responsibility to issue refunds, regardless of whether You were the victim of fraud and/or mistake or any other circumstances beyond control of APS.
9.5. You acknowledge and agree that fees incurred via third parties (e.g., Your bank, for certain transfers such as wire transfers; or Our service providers, e.g., for certain processing fees) may not be capable of being refunded, either in whole or in part, by Us in the case of a cancellation or refund under this Section.
10. Use of APS Services
10.1. Prohibited Uses
APS does not knowingly engage with, support, or otherwise facilitate payments for any illegal or illicit purpose at any time. This list will be updated on a regular basis and, where an activity that You engage in becomes regulated or illegal APS may suspend or terminate Your access to APS Services at any time. Prohibited and forbidden uses of our services are determined by Us in our sole discretion and any cessation, suspension, or termination of APS Services due to prohibited products or activities is final.
(a) Illegal Activity: Services or products which are expressly prohibited in Your jurisdiction.
(b) DDoS, Doxxing, or Similar Services: We expressly forbid payments for services of this nature as they target infrastructure and systems of organizations or persons. Additionally, these actions may constitute crimes and may deprive the targets of the use of their infrastructure and/or place them at risk of physical harm.
(c) Defamation, Libel, Harassment, Stalking, or “Spyware”: Products or services that violate the privacy of others or make statements which may be untrue and/or harmful are explicitly prohibited.
(d) Fraud: Any action or service which operates under false pretense or false representation to enrich the User, entity or person at the expense of others.
(e) Copyright Infringement, Replicas, Pirate Software: Any product or service which distributes software counter to licensing agreements, infringes on copyrights, or creates false/fraudulent replicas of replica and/or name brand products is explicitly prohibited.
The above specific types of use are representative, but not exhaustive, of Prohibited Uses. If You are unsure as to whether Your use of any APS Services involves a Prohibited Use, or have any questions about how these requirements apply to You, please contact Us. By accessing or using any APS Services, You confirm that You will not use any APS Services for a Prohibited Use.
10.2. Prohibited Business Types
The following products and industries are precluded from access to APS Services in any ways:
(a) Illicit drugs including pharmaceuticals;
(b) Marijuana, psilocybin and other drugs except where licensed by the Federal government in your jurisdiction;
(c) Guns, ammunition, and other weapons;
(d) Chemicals including “research chemicals”, “peptides”, “bath salts” and other products of this nature;
(e) Illegal pornography;
(f) Child abuse material including products that sexualize minors;
(g) Multi level marketing;
(h) Financial services that require a license where the User does not have the license required;
(i) Credit repair;
(j) Debt collection;
(k) Government grant assistance;
(l) Travel and work visa assistance;
(m) Peer to peer transactions;
(n) Binary options;
(o) Contracts for difference;
(p) Shell banks;
(q) Incorporation services.
The above specific types of business are representative, but not exhaustive, of Prohibited Business Types. If You are unsure as to whether Your business is a Prohibited Business or have any questions about how these requirements apply to You, please contact Us. By accessing or using any APS Services, You confirm that You will not use any APS Services for Prohibited Business Types.
10.3. Restricted Business Types
The following business types are only accepted after the completion of Enhanced DD and only with express written approval of APS executive. Note that any businesses of the below types will be subject to probationary controls including processing caps, settlement restrictions and ongoing monitoring.
(a) Charities;
(b) Low income housing development;
(c) Religious organizations;
(d) Money services businesses;
(e) Online financial services such as e-Wallets, prepaid credit cards, financial applications and others;
(f) Currency exchange;
(g) Licensed financial activities such as Virtual Currency(ies) exchanges;
(h) Lotteries and gaming;
(i) eSports;
(j) Fantasy sports;
(k) Legal services.
The above specific types of business are representative, but not exhaustive, of Restricted Business Types. If You are unsure as to whether Your business is a restricted Business or have any questions about how these requirements apply to You, please contact Us. By accessing or using any APS Services, You confirm that You will not use any APS Services for Restricted Business Types without the completion of Enhanced DD and express written approval of APS executive.
11. APS Fees
11.1. Your use of the APS Services will usually require payment of APS Fees.
11.2. APS Fees are made clear to You at the point of Order confirmation, and on this point, You will be asked to confirm that You are clear about the APS Fees and that in proceeding You agree to the APS Fees prior to APS processes the Transaction.
11.3. APS reserves the right to pursue any financial losses suffered due to You filing a chargeback procedure with Your bank. These can include administration fees levied by the card acquirer and card schemes as well as the monetary value of the Virtual Currency(ies).
12. Indemnification
You agree to indemnify APS, its affiliated and related entities, and any of its officers, directors, employees and agents from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind (including, without limitation, costs, expenses, and reasonable attorneys’ fees) arising out of, relating to, or incurred in connection with any claim, complaint, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises or relates to any actual or alleged breach of your representations, warranties, or obligations set forth in these Terms.
13. Warranties and Representations
13.1. By agreeing to these Terms, You represent, warrant, and undertake to Us that:
(a) You have full power and authority to enter into this Agreement;
(b) You will fulfill Your obligations under these Terms;
(c) You will only use the APS Services in a legal way that is in line with the letter and spirit of these Terms;
(d) You will not sell, transfer, or otherwise provide a third party with access to Your APS Account or the APS services without Our express written permission;
(e) You understand and acknowledge that We do not warrant that any of the APS Services available through Your APS Account are suitable or appropriate for Your needs and that You must take Your own independent legal and other advice on such APS Services;
(f) You are entering into this Agreement as principal and not on behalf of any third party;
(g) You will not violate any applicable laws by entering into this Agreement or receiving the APS Services provided under it;
(h) You will not provide false, misleading or inaccurate information;
(i) You will not facilitate any viruses, malware, worms, trojan horses or some other computer programming routines that may damage, corrupt, disrupt, misuse or gain unauthorized access to any data, system information or APS Services;
(j) any Fiat Currency and/or Virtual Currency(ies) transferred to any account and/or E-Wallet and/or any other online platform and/or online and/or bank account have been acquired lawfully;
(k) You will not use an anonymizing proxy; use any, other automatic devices, spider or manual process to copy or monitor APS Website without Our prior written permission;
(l) You will not harass and/or threaten Our employees, agents, or other Users;
(m) You understand and acknowledge that while We make reasonable endeavours to ensure the accuracy of the information that We provide, and which in turn, is provided to You, neither We nor any of Our directors, employees or agents make any representation or warranty, express or implied, as to the accuracy or completeness of such information;
(n) any information provided by You to APS under this Agreement is true, complete, accurate, up to date and not misleading, and
(o) You shall provide all assistance reasonably requested by APS to enable APS to comply with its obligations under this Agreement.
13.2. Except as otherwise set forth in this Agreement, We provide APS Services on an “as is” and “as available” basis, and Your use of the APS Services is at Your own risk. To the maximum extent permitted by applicable law, We provide the APS Services without warranties of any kind, whether express or implied (including, without limitation, warranties of merchantability, fitness for a particular purpose, or non-infringement). Without limiting the foregoing, We do not warrant that the APS Services (and APS Website, or APS Account): will operate error-free or that defects or errors will be corrected; will meet Your requirements or will be available, uninterrupted or secure at any particular time or location; are free from viruses or other harmful content. We do not endorse, warrant, guarantee or assume responsibility for any product or service offered or advertised by a third party through the APS Services or through the APS Website, and We will not be a party to nor monitor any interactions between You and third-party providers of products or services.
13.3. APS makes no representation or warranty that the APS Services are applicable or appropriate for use by the Users in all jurisdictions and it is Your responsibility to ensure compliance with the laws of any relevant jurisdiction of Your residence.
14. Limitation of Liability
Except as otherwise set forth in this Agreement, in no event will We be liable for any indirect, special, incidental, consequential, exemplary or punitive damages or any loss, theft, disappearance, or damages for lost profits, lost revenues, lost data or other intangible losses that result from the use of, inability to use, or unavailability of the APS Services, regardless of the form of action and whether or not We knew that such damage may have been incurred. For Users contracting with APS while this limitation of liability disclaims lost profits and other indirect damages, APS does not otherwise exclude its liability for its gross negligence or willful misconduct.
In no event will We be liable for any damage, loss or injury resulting from hacking, tampering, virus transmission or other unauthorized access or use of the APS Services, Your APS Account, or any information contained therein.
In no event will Our liability for any damages arising in connection with the APS Services or these Terms exceed the APS Fees earned by Us in connection with Your use of the APS Services during the 6 (six) month period immediately preceding the event giving rise to the claim for liability. The foregoing limitations of liability shall apply to the fullest extent permitted by applicable law.
15. Tax
Users are solely responsible for declaring, charging, and remitting taxes in their jurisdiction. APS will comply with any valid process, subpoena, production order or similar from taxation authorities including disclosing account transaction history and settlement history.
16. Assignment
You may not transfer or assign Your APS Account or obligations to these Terms, or any rights granted by these Terms. You agree and acknowledge that We may assign or transfer these Terms.
17. Severability
Should any provision of the Terms be determined to be invalid or unenforceable under any law, regulation, or court order, such determination will not affect the validity or enforceability of any other provision of the Terms.
18. Waivers
A party’s failure to assert any right or provision in the Terms shall not constitute a waiver of such right or provision, and no waiver of any term shall be deemed a further or continuing waiver of such or other term.
19. Governing Law
Primarily the governing law of the Agreement and the APS Services is the laws of British Columbia, Canada.
20. Updates
We may update our Terms at any time. Where possible We will endeavor to notify You of updates to this Agreement in writing to the contact designated by You or via Your APS Account. Updates to these Terms may be made at any time, with or without notice to You, and You acknowledge this and accept responsibility for checking these Terms on a regular and ongoing basis.
21. Force Majeure
Neither party will be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, non-performance of our vendors or suppliers, acts of God, pandemics, or other causes over which the respective party has no reasonable control; provided that the party has procedures reasonably suited to avoid the effects of such acts.
22. Notices
22.1. All notices and communication pursuant or in connection with this Agreement:
(a) must be in writing and in English; and
(b) must be delivered and/or sent to APS to 490-4 Bow Valley Square 3 255 5 Ave SW Calgary AB T2P 3G6 and payments@cad.aps.money; and
(c) will be delivered or sent to You at the postal address or email address that You have notified or provided to Us in connection with this Agreement.
22.2. The parties acknowledge that any notice or other communication will be deemed to be given as follows:
(a) If delivered, at the time and on the date of delivery if delivered during a Business Day, or at the start of the next Business Day if delivered at any other time;
(b) If sent by post to and from a place within Canada, at the start of the second Business Day after it was put in the post;
(c) If sent by post to or from a place outside Canada, at the start of the fifth Business Day after it was put in the post; or
(d) If sent by email, at the time and on the date of transmission if transmitted during normal office hours (09:00-17:30) on a Business Day (local time at the place of receipt) and, in any other case, at the start of the Business Day following the date of transmission.
22.3. This clause will not apply to the service of any proceedings or other documents in any legal action by the parties. APS will not accept service of proceedings or any legal action by way of email by you or any third party.
22.4. We may (where allowed to do so by law) communicate with You by posting information in Your APS Account or on the APS Website, in which case the information will be treated as received by You when it is posted by Us.
22.5. The User has the right to file a complaint via APS Account or email or instant message. APS is bound by the following when a complaint is received:
(a) Acknowledging the complaint, in writing, within 10 days of receipt from the User;
(b) Providing a final response to the User within 30 days of the receipt of the complaint; and
(c) Providing a path for the User to escalate the complaint if necessary.
11.1. Your use of the APS Services will usually require payment of APS Fees.
11.2. APS Fees are made clear to You at the point of Order confirmation, and on this point, You will be asked to confirm that You are clear about the APS Fees and that in proceeding You agree to the APS Fees prior to APS processes the Transaction.
11.3. APS reserves the right to pursue any financial losses suffered due to You filing a chargeback procedure with Your bank. These can include administration fees levied by the card acquirer and card schemes as well as the monetary value of the Virtual Currency(ies).
12. Indemnification
You agree to indemnify APS, its affiliated and related entities, and any of its officers, directors, employees and agents from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind (including, without limitation, costs, expenses, and reasonable attorneys’ fees) arising out of, relating to, or incurred in connection with any claim, complaint, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises or relates to any actual or alleged breach of your representations, warranties, or obligations set forth in these Terms.
13. Warranties and Representations
13.1. By agreeing to these Terms, You represent, warrant, and undertake to Us that:
(a) You have full power and authority to enter into this Agreement;
(b) You will fulfill Your obligations under these Terms;
(c) You will only use the APS Services in a legal way that is in line with the letter and spirit of these Terms;
(d) You will not sell, transfer, or otherwise provide a third party with access to Your APS Account or the APS services without Our express written permission;
(e) You understand and acknowledge that We do not warrant that any of the APS Services available through Your APS Account are suitable or appropriate for Your needs and that You must take Your own independent legal and other advice on such APS Services;
(f) You are entering into this Agreement as principal and not on behalf of any third party;
(g) You will not violate any applicable laws by entering into this Agreement or receiving the APS Services provided under it;
(h) You will not provide false, misleading or inaccurate information;
(i) You will not facilitate any viruses, malware, worms, trojan horses or some other computer programming routines that may damage, corrupt, disrupt, misuse or gain unauthorized access to any data, system information or APS Services;
(j) any Fiat Currency and/or Virtual Currency(ies) transferred to any account and/or E-Wallet and/or any other online platform and/or online and/or bank account have been acquired lawfully;
(k) You will not use an anonymizing proxy; use any, other automatic devices, spider or manual process to copy or monitor APS Website without Our prior written permission;
(l) You will not harass and/or threaten Our employees, agents, or other Users;
(m) You understand and acknowledge that while We make reasonable endeavours to ensure the accuracy of the information that We provide, and which in turn, is provided to You, neither We nor any of Our directors, employees or agents make any representation or warranty, express or implied, as to the accuracy or completeness of such information;
(n) any information provided by You to APS under this Agreement is true, complete, accurate, up to date and not misleading, and
(o) You shall provide all assistance reasonably requested by APS to enable APS to comply with its obligations under this Agreement.
13.2. Except as otherwise set forth in this Agreement, We provide APS Services on an “as is” and “as available” basis, and Your use of the APS Services is at Your own risk. To the maximum extent permitted by applicable law, We provide the APS Services without warranties of any kind, whether express or implied (including, without limitation, warranties of merchantability, fitness for a particular purpose, or non-infringement). Without limiting the foregoing, We do not warrant that the APS Services (and APS Website, or APS Account): will operate error-free or that defects or errors will be corrected; will meet Your requirements or will be available, uninterrupted or secure at any particular time or location; are free from viruses or other harmful content. We do not endorse, warrant, guarantee or assume responsibility for any product or service offered or advertised by a third party through the APS Services or through the APS Website, and We will not be a party to nor monitor any interactions between You and third-party providers of products or services.
13.3. APS makes no representation or warranty that the APS Services are applicable or appropriate for use by the Users in all jurisdictions and it is Your responsibility to ensure compliance with the laws of any relevant jurisdiction of Your residence.
14. Limitation of Liability
Except as otherwise set forth in this Agreement, in no event will We be liable for any indirect, special, incidental, consequential, exemplary or punitive damages or any loss, theft, disappearance, or damages for lost profits, lost revenues, lost data or other intangible losses that result from the use of, inability to use, or unavailability of the APS Services, regardless of the form of action and whether or not We knew that such damage may have been incurred. For Users contracting with APS while this limitation of liability disclaims lost profits and other indirect damages, APS does not otherwise exclude its liability for its gross negligence or willful misconduct.
In no event will We be liable for any damage, loss or injury resulting from hacking, tampering, virus transmission or other unauthorized access or use of the APS Services, Your APS Account, or any information contained therein.
In no event will Our liability for any damages arising in connection with the APS Services or these Terms exceed the APS Fees earned by Us in connection with Your use of the APS Services during the 6 (six) month period immediately preceding the event giving rise to the claim for liability. The foregoing limitations of liability shall apply to the fullest extent permitted by applicable law.
15. Tax
Users are solely responsible for declaring, charging, and remitting taxes in their jurisdiction. APS will comply with any valid process, subpoena, production order or similar from taxation authorities including disclosing account transaction history and settlement history.
16. Assignment
You may not transfer or assign Your APS Account or obligations to these Terms, or any rights granted by these Terms. You agree and acknowledge that We may assign or transfer these Terms.
17. Severability
Should any provision of the Terms be determined to be invalid or unenforceable under any law, regulation, or court order, such determination will not affect the validity or enforceability of any other provision of the Terms.
18. Waivers
A party’s failure to assert any right or provision in the Terms shall not constitute a waiver of such right or provision, and no waiver of any term shall be deemed a further or continuing waiver of such or other term.
19. Governing Law
Primarily the governing law of the Agreement and the APS Services is the laws of British Columbia, Canada.
20. Updates
We may update our Terms at any time. Where possible We will endeavor to notify You of updates to this Agreement in writing to the contact designated by You or via Your APS Account. Updates to these Terms may be made at any time, with or without notice to You, and You acknowledge this and accept responsibility for checking these Terms on a regular and ongoing basis.
21. Force Majeure
Neither party will be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, non-performance of our vendors or suppliers, acts of God, pandemics, or other causes over which the respective party has no reasonable control; provided that the party has procedures reasonably suited to avoid the effects of such acts.
22. Notices
22.1. All notices and communication pursuant or in connection with this Agreement:
(a) must be in writing and in English; and
(b) must be delivered and/or sent to APS to 490-4 Bow Valley Square 3 255 5 Ave SW Calgary AB T2P 3G6 and payments@cad.aps.money; and
(c) will be delivered or sent to You at the postal address or email address that You have notified or provided to Us in connection with this Agreement.
22.2. The parties acknowledge that any notice or other communication will be deemed to be given as follows:
(a) If delivered, at the time and on the date of delivery if delivered during a Business Day, or at the start of the next Business Day if delivered at any other time;
(b) If sent by post to and from a place within Canada, at the start of the second Business Day after it was put in the post;
(c) If sent by post to or from a place outside Canada, at the start of the fifth Business Day after it was put in the post; or
(d) If sent by email, at the time and on the date of transmission if transmitted during normal office hours (09:00-17:30) on a Business Day (local time at the place of receipt) and, in any other case, at the start of the Business Day following the date of transmission.
22.3. This clause will not apply to the service of any proceedings or other documents in any legal action by the parties. APS will not accept service of proceedings or any legal action by way of email by you or any third party.
22.4. We may (where allowed to do so by law) communicate with You by posting information in Your APS Account or on the APS Website, in which case the information will be treated as received by You when it is posted by Us.
22.5. The User has the right to file a complaint via APS Account or email or instant message. APS is bound by the following when a complaint is received:
(a) Acknowledging the complaint, in writing, within 10 days of receipt from the User;
(b) Providing a final response to the User within 30 days of the receipt of the complaint; and
(c) Providing a path for the User to escalate the complaint if necessary.