Transfez Service Agreement | Transfez

TRANSFEZ GENERAL TERMS AND CONDITIONS

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1. General

  1. The Transfez application (“Application”) and web portal (“Portal”), is provided by PT Indo Koala Remittance, a limited-liability Company established under the laws of the Republic Indonesia and licensed by Bank Indonesia as a payment and money transfer service provider (“We”, “Us”, or “Our”).
  2. By visiting Our Application or Portal, and/or clicking Agree in our Application and Portal from time to time, You are deemed to agree with the General T&C. We may, from time to time amend, revise or update these General T&C by publishing a revised version on Our Portal. Any variation or amendment shall come into effect on the date revised General T&C are published on Our Portal. You are obligated to always check if any amendment and/or addition is applied to this General T&C, and by continuing your ownership of Transfez account, you are deemed to agree to each amendment and/or addition as may be applied from time to time.
  3. We are a Payment Service Provider with license and registered in Bank Indonesia. Our Services include domestic and international fund transfer as well as payment collection and disbursement in Indonesia. We also provide other related-to-payment Services in which We engage and collaborate with third party account issuance, account information, payment initiation service, or acquiring service providers so far it is required and necessary for Us to perform our Services. (“Services”).
  4. This General T&C is a binding Agreement between You and Us.

2. Requirement to Legal or Business Entity Service Users

  1. If you use Our Services on behalf of an entity, company, and/or organization, You agree to these General T&C for and on behalf of such entity, company, and/or organization and warrant that You have authority to bind such entity, company, and/or organization to these General T&C. Under this provision “You” refers to the entity, company, and/or organization that You represent.
  2. You agree to use Services in accordance with these General T&C. You can use Services only if You have authority to enter into and approve a legal relationship with Us and are not prohibited by any law to do such.
  3. You must appoint Your company’s representative as an Administrator who shall be an intermediary between Your company and Us in relation to Services provision, including for communication, complaint, and other purposes (“Your Representative”). If Your Representative is an individual other than a member of the Board of Directors who shall have authority under Your corporate’s document, such appointment of Your Representative shall be stated in a power of attorney in the form satisfactory to Us. The power of attorney shall be deemed to be a valid authorization from You to Your Representative.

3. How to use Our Services

  1. Sign-Up and Create a Transfez Account
    1. You must sign up and create a Transfez account and provide all the accurate and complete information and documents required under the sign up form.
    2. You agree to keep Your password on the Transfez Account confidential and will be responsible for all use of Your Transfez account and password. You shall ensure that none of the password is disclosed to any person, except to Your Representative who shall be aware of the requirement to keep the password secure and confidential.
    3. With Our sole and absolute discretion, We have the rights to approve or reject Your application to create a Transfez account and We shall not be obliged to provide any reason or explanation for the decision.
    4. Our Services is provided to You on an “as is” basis and with Our absolute discretion, We have the right to modify, suspend or discontinue Our Services or any part thereof, from time to time, with prior notification to You.
  2. Security Process on You
    1. As required by the law and regulations, We must identify and verify Your identity, which includes but not limited to conduct additional security checks on You, before We can provide Our Services to You.
    2. You must provide any documents and/or information that We requested. We can not provide Our Services to You if You failed to provide the documents and/or information that We required.
    3. You represent and warrant that all documents and/or information submitted to Us pursuant to Your registration and account opening application are accurate, complete and valid; and that You will immediately notify Us of any change to or update in such documents and/or information.
    4. We may require to take a face-to-face meeting before you use our Services at the first time, in any time or place that suitable with you and Us after you submitted all the preliminary documents we asked.
    5. Security Check may take time. We will try in our best effort to escalate the time to process our security check. Nevertheless, should security check require a longer time, You shall release Us from any legal action, in connection, directly or indirectly, with the delay of Your transaction process.

4. Limitation of Liability and Indemnity

  1. We keep information and data related to the transaction We conducted based on Our Service for the period of 10 (ten) years after the completion of such transaction, and We reserve Our rights to delete from Our system, or destroy the information and data related to such transaction after the aforementioned period of time has passed.
  2. Except otherwise expressly stated on the following sub clause under this Article, We shall not be liable to You and any other party for any damages, including any costs, losses, and interests in whatsoever form, whether directly or indirectly, material or immaterial, arising from or otherwise relating to Our Services, which is caused by any whatsoever reason, including but not limited to any costs, losses, and interests caused by a bug or virus, and from Our website or from any external website which is linked to and from Our website.
  3. You indemnify, defend and hold Us harmless against all liabilities, claims and losses howsoever arising from or in connection with:
    1. any breach by You of the terms and conditions under this General T&C and/or any other terms and conditions We apply in relation with the utilization of Our product;
    2. any use by You of Our Services for purposes other than the permitted uses under prevailing laws and regulations;
    3. any of Your representations or warranties being untrue, inaccurate or misleading or Your breach of any of those representations and warranties;
    4. any negligent act or omission by You in connection with the use of Our Services;
    5. Your access or use of the Our Services (including any security breach), whether or not such access was authorized or whether it was due to any act or omission on Your part.
    6. Inaccurate or incomplete Transaction Order

5. Your Representation, Warranties, and Responsibilities

  1. You represent and warrant to Us that:
    1. You and Your Representative have full power to: (i) enter into this General T&C, (ii) perform Your obligation hereunder according to this General T&C, and (iii) to use Our Services. You shall, in any case, release Us from each claim, lawsuit, or loss in any form which might arise from invalidity of the power of attorney to Your Representative or unauthorization of Your Representative to act on behalf of You;
    2. Your use of Our Services will not breach any relevant applicable law and regulation, including but not limited to the Anti Money Laundering and Counter-Terrorism and Proliferation of Weapon of Mass Destruction Financing Laws under Indonesian or any other relevant applicable law. You warrant that the use of Services by You shall not be for the purpose of or transaction with provider of Prohibited Business;
    3. all information provided in connection with the use of Service is accurate in all material respects and You shall not omit or withhold any information which would make such information inaccurate in any material respect and each Payment Request submitted to Us relates to an underlying service.
    4. You use the Services only to transact for your own legitimate business and commercial purposes and not on behalf of any other person or entity.
    5. You know your Recipient very well or you know that your Recipient engaged in legitimate business.
  2. You are solely responsible for any costs, losses, and interests in whatsoever form which resulted from any misleading, false, and/or inaccurate information and documents that You provide to Us in connection to Our Services;
  3. You are solely responsible for any costs, losses, and interests in whatsoever form which resulted from and related to any agreement between You and Your fund recipient or any other parties We are not liable towards any form of loss, whether material or immaterial loss that You suffer, resulted from any fraud, deception, misunderstanding, or oversight that You do or experience in performing the transaction. You shall check and confirm that the purpose of transaction, including the fund recipients, beneficiary and other party who gain benefits from the performance of transaction is entitled, valid, accurate, and in accordance with the prevailing laws and regulations. Notwithstanding the foregoing, in the event You experience the loss provided hereunder, We will do Our best effort to contact the related parties in the performance of transaction to assist you in solving your problem.
  4. You shall notify Us immediately:
    1. in the event of any suspected or actual unauthorized use or breach of Your Transfez account. Notwithstanding such notification, You accept sole responsibility for all acts or omissions of any person that accesses Your Transfez account through password and agree to be bound by the terms of all transactions executed and placed through the Transfez account;
    2. if there is any change to Your Representative. Until We have been notified of such change and have had a reasonable opportunity to act on it, We shall be entitled to continue to regard the previously designated Admin Team as Your authorized representative and rely on all information and instructions provided by such Admin Team.

6. Intelectual Property Right

Transfez is the owner of any right and property including but not limited to the intellectual property rights which are provided in and related to, appearing on or contained within and, directly or indirectly in the Application, the Portal, and the Services, and including but not limited to the intellectual property right of the software, the Application, the Portal, our design, our trademarks, our logo, our code, and whatsoever provided in and related to, directly or indirectly with Our Services, whether the rights is registered or not. You may not, directly or indirectly, partially or wholly, infringe our rights thereof, including but not limited to distribute, transfer, give license, assign, lease, modify, copy, and/or temper any of our rights whatsoever.

7. Blocking

  1. At your request, We will block your Transfez account. In addition, if in Our opinion, things happen that are detrimental and/or can harm Us or You or other third parties, We will also do the blocking. However, We provide a complaint path for you to stop the blocking.
  2. Account blocking may occur including, but not limited to, the following events:
    1. Your report that Your mobile phone is lost or has been stolen or hacked;
    2. Blocking orders issued by government or monetary institutions or based on court orders;
    3. Use of a Transfez account in a manner that is contrary to these General T&C, Privacy Policy and any applicable law and regulations, including but not limited to fraud and use of fake document;
    4. Other reasons that harm You or Us, including fraudulent actions and fraudulent acts; or
    5. When Our system or our service provider partner catches a suspicious activity pattern.
  3. If Your Transfez account is blocked and You have strong evidence that nothing suspicious has happened You can file your complaint, We can determine to end or continue blocking Your Transfez account. Blocking will not continue unreasonably if We decide that the things that caused the blocking have ended.
  4. We have full discretion at any time to temporarily or permanently disable your access to your Transfez account on the Transfez Application and/or Portal.

8. Closing Account

  1. Your Transfez account may be closed for the following reasons:
    1. Request by You;
    2. Our policies that are based on applicable laws and regulations;
    3. Force Majeure which occurs for 3 (three) months or more in a row; and/or
    4. Other reasons in connection with account blocking.
  2. Your Transfez Account may be terminated automatically or temporarily disabled when you terminate or deactivate your Transfez account.

9. Force Majeure

Our Services may be interrupted by certain events or things beyond our authority and control (Force Majeure), which including but not limited to the natural disaster, pandemic, electricity disturbances, telecommunications disturbances, government policies, cybercrime, cyber terrorism, viruses, bugs, or if any authority or any of our partner or the recipient bank in relevant jurisdiction need to conduct any additional compliance process and security check which they deem necessary to comply with the law and regulations or if Our partner in relevant jurisdiction or the recipient bank reject or pending the transaction or fund or any other whatsoever matters beyond our authority and control whether it is natural or man made. You therefore agree to release us from any claims, if we are unable to fulfill your instructions through your Transfez account either partially or wholly due to Force Majeure.

10. Others

  1. We may amend or supplement this General T&C by posting the latest version on the Application or the Portal. Once it has been posted, the ammended version will be effective. We will notify you about the changes of the General T&C by email.
  2. We will give our best effort (but not guarantee) to make Our Services be available for You at all times. We are not responsible to You if for some reasons Our Services are unavailable for a certain period of time.
  3. In Our absolute discretion, We may, without prior notice and inform the reason to You, refuse Our Services to you, terminate your account, and/or we make a longer time to Security Check process, if:
    1. We find Your name matches with names listed on the sanctions list or politically-exposed person list;
    2. We find Your Recipient’s Name matches with names listed on the sanctions list or politically-exposed person list;
    3. We suspect, have a reason to believe, or are informed that you are engaged in illegal activities which including but not limited to money laundering, financing of terrorism, or financing of proliferation of weapon of mass destruction, and/or Prohibited Business;
    4. We suspect that your account is used by other unauthorized party.
    5. We are asked by the Government Officials to hold or refuse Your transaction and or terminate Your Account;
    6. You become insolvent; or
    7. there is a withdrawal or termination of any license, permission or authorization required to operate Your business.
  4. We do not have control over the security of Your bank account used to transact. Any losses incurred by Youarising from unauthorized use of Your account shall not become Our responsibility.
  5. Please see Our Privacy Policy. Our Privacy Policy shall be deemed as an integral part of this General T&C.
  6. If there is any article in or of part of this General T&C, which is held by any court or other competent authority to be void, illegal or unenforceable, under any prevailing law, such part or article shall not be deemed as part of the General T&C and all other parts or articles shall remain in effect.
  7. This General T&C has been prepared in both the English language and Bahasa Indonesia. In the event of a conflict between the English language version and the Bahasa Indonesia version of this General T&C, the Indonesian version shall prevail for all purposes and supersede all discrepancies in language.
  8. All disputes between You and Us arising out of this General T&C and/or other applicable terms and conditions related to Our products shall be finally resolved in the administrative office of South Jakarta District Court. However, You and Us are agreed that we will do everything necessary to settle any dispute in a proper amicable settlement.
PROHIBITED BUSINESSES
  1. Arm/Defense/Ammunition Business
  2. Private security firm and Private military contractor
  3. Counterfeit/pirated goods and sale of illegally imported or exported goods
  4. Dealers in precious metals, stones, and jewelry
  5. Embassies, Diplomatic Missions and Consulates
  6. Illegal Drugs and Narcotics, Marijuana Industry and other recreational drug Industries
  7. Drug paraphernalia
  8. Substances Designed to Mimic Illegal Drugs
  9. Goods with restrictions on use or controlled substances
  10. Hazardous products to human life and health (for instance, explosives, fireworks, radioactive materials, etc)
  11. Prostitution
  12. Adult Content and Services
  13. Lotteries and gambling, online or offline
  14. Rough diamond trade
  15. Shell Banks
  16. Unlicensed Financial Institutions, where licensing is required
  17. Products and services which are not legal/meet the regulatory requirement in the jurisdiction they are being offered/provided in or in any country that Transfez operates in.
  18. Intellectual property, copyright, patent, trademark, trade secret, proprietary rights infringement
  19. Platforms allowing the trading and/or exchanging of FX/CFD/options
  20. Trade of restricted and/or endangered animal species
  21. Multi-level Marketing
  22. Virtual currency or crypto currency
  23. Any other Illegal Activities.

Version 2.0

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Prudential Centre Lt 22
Kota Kasablanka
Jl Casablanca Raya Kav 88
Jakarta Selatan
Indonesia

Licensed & under the
supervision of:
Bank Indonesia & PPATK

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Member of the
association of:
ASPI & APPUI

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Transfez is a financial technology product from PT Indo Koala Remittance, a licensed remittance company in Indonesia. We are under the supervision of Bank Indonesia and PPATK under the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regulation: 19/10/PBI/2017 and regulated by Bank of Indonesia as a remittance company with license number: 13/77/DASP/30.