Transfez Service Agreement | Transfez

Transfez Service Agreement

1. Important

  1. Please review this Transfez Service Agreement (“Agreement”) carefully before using Our Services (as defined below).
  2. The transfez.com application (the “Application”) or business.transfez.com portal (the “Portal”) provided by PT Indo Koala Remittance, a Company established under the laws of the Republic Indonesia and licensed by Bank Indonesia as a fund transfer operator non-Bank institution (“We”, “Us”, or “Our”).
  3. By visiting our Portal, using our Services, download and/or visiting our Application, and/or click Agree in our Portal or Application from time to time, you agree of this Agreement. If you do not agree to the terms of this Agreement and/or if you wish to discontinue using Our Services, please delete your Transfez account.
  4. As fund transfer operator non-Bank Institution, We provide Services related to the international fund transfer, from Indonesia to this countries. (“Services”).
  5. This Agreement is legal agreement between you and Us.

2. Eligibility who can use or Service

  1. If you are Individual Person: You are at least 17 years old and by using the Services, you represent and warrant that you are 17 years old.
  2. If you are Legal Person: You have authority to bind into this Agreement and to use Our Services and by agree of this Agreement and/or using Our Services, you represent and warrant that you have the authority to bind into this Agreement and to use Our Services.

3. How to use Our Services

  1. Sign Up and Create a Transfez Account
    1. To start using Our Services, 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. Further, We will ask you to accept this Agreement. If you do not agree to the terms of this Agreement, you shall not continue the sign up process.
    2. You agree to keep your password confidential and will be responsible for all use of your Transfez account and password.
  2. Security Process on You
    1. As required by the law, we have procedures to identifying and verifying your identity, which including but not limited to conduct any necessary security checks on you. It is a compulsory procedure before we can provide any Services to you.
    2. On the other hand, you must agree to provide any documents and/or information that we requested. If you failed to provide the documents and/or information that We inquired about accurately, we have absolute discretion not to proceed our Services to you.
    3. Further, you are agree and authorize us to obtain any information which given by the third party, including but not limited from the government.
    4. If you are a Legal Person, We may require to take a face-to-face meeting before you use our Services at the first time. We will hold this face-to-face meeting in any time or place that suitable with you and Us after you submitted all the preliminary documents we asked.
    5. We may carry out Our Security Process procedure to you from time to time if we think it is necessary. However, in general the Security Process to you may take only 1 (one) time before you use our Services at the first time. The provision on paragraph ii of this Sub-Clause b shall apply on this paragraph.
    6. Security Check may take time. We will try in our best effort to escalate the time to process our security check. Rarely, it may take a long time to process the security check. But, in any event of the situation happens, you shall release Us from any legal action, in connection, directly or indirectly, with the delay of your transaction process.
  3. Setting up your transaction order
  4. You must accurately and completely set up your payment order from your Transfez Account which including but not limited to:

    1. If the Recipient is Individual Person:

      – The Recipient first name
      – The Recipient last name
      – The Recipient's Bank
      – The Recipient's Bank Account
      – Recipient's destination country

    2. If the Recipient is Legal Entity

      – The named representative
      – Registered Name
      – Trading Name if different
      – Registered Address
      – Principal Address of Business if different
      – Country of Incorporation
      – The Recipient's Bank
      – The Recipient's Bank Account

  5. Fees and Exchange Rates
    1. Our Fees may differ from one country to another country. Please see the Fees on the Transfez currency converter. If you are a Legal Entity, Fees can be seen in the Price Appendix table submitted by us.
    2. Our Exchange Rates may be differ from time to time. After you set up your transaction order, the exchange rates will be locked for. some time according to the information on our Application and/or Portal.
  6. Payment Instruction

    After we received and verified your Transaction Order, we will issue a Payment Instruction. Accordingly, you are required to pay the exact amount of money to the Bank Account that designated in the Payment Instruction. Please be noted that you are required to pay the exact amount from your own Bank Account. At the soonest after we received your payment, we will process your Transaction Order. On the contrary, we will not process your Transaction Order if:

    1. the payment is not from your Bank Account and you do not provide the documents and/or information that we inquired regarding the owner of the Bank Account (Beneficial Owner);
    2. you failed to pay the exact amount as required in the Payment Instruction; and
    3. you failed to pay the exact amount within specified time period as notified in the Application and/or Portal.
  7. Notice on Settlement of Transaction

    At the soonest, we will let you know if the Transaction has been succeeded. The notice shall include (but not limited to) the Recipient, the Recipient Bank, and the amount transferred. Please report immediately if our system fails to transferred the exact amount to the Recipient. We help you to fix such issue as soon as you contact us.

  8. Your transaction order may be delayed or may not be settled

    We will try in our best effort to process or settle your transaction order in a timely manner, which under a normal time, it can take maximum 5 working days after we received your payment (but it is almost impossible taking this long). But, for some reason, your transaction order may be delayed or may not be settled. In any event of the situation happens, we will let you know at the soonest. Further, to the extent that permitted by the law, you agree that we are not required to convey you the reason of the situation.

4. Our Liability

  1. Except otherwise expressly stated on the following sub clause under this Article, We are not 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 the Our Services, which caused by any whatsoever reason, including costs, losses, and interests caused by a bug or virus, and website which linked to and from our website.
  2. We are only liable to you for damages if:
    1. after we received your fund, we cannot deliver your transaction within the maximum time as stipulated under the article 3.f of this Agreement, and
    2. you have prove that the event as stipulated on the point (a) above happening because of our negligence.
  3. Without prejudice to the provision of sub clause ii.b above, there is no negligence if:
    1. we are asked by the Government Officials to hold or cancel your transaction;
    2. we, under our discretion, believe that it is necessary to make additional security process to comply with the law and regulation;
    3. the availability of the monies are delayed or canceled due to act or omission of Recipient’s Bank;
    4. the delay or failure of settlement is caused by any misleading, false, and/or inaccurate information and documents that you provide to us in connection to Our Services;
    5. any event out of our authority and control, which including but not limited to the natural disaster, telecommunication failures, cybercrime, cyber terrorism, viruses, bugs, or if any authority or any of our partner in relevant jurisdiction need to conduct any additional compliance process and security check which they deemed necessary to comply with the law or any other whatsoever matters or events beyond our authority and control whether natural or man-made; or
    6. we execute our absolute discretion to perform Article 7.vi of this Agreement.
  4. If our liability under provision of Sub-Clause ii above exists, we must refund the remaining amount that we failed to transfer (for the purposes of this clause shall be defined as “Remaining Amount”). To avoidance of doubt, we can not bear liability to refund your fund which has been delivered to your Recipient nevertheless we cannot meet the maximum time as stipulated under the article 3.f of this Agreement.
  5. Subject to provision of sub-clause ii and iv above, beside our liability to refund the Remaining Amount, in any event:
    1. We shall only liable for damage interest, i.e. late performance interest at the rate of 0,01% of Remaining Amount per day, which calculated from 7 (seven) days after your refund request; and
    2. Our maximum liability to your damage is limited to Rp. 2,000,000.

5. Your Representation, Warranties, and Responsibilities

  1. You represent and warrant to Us that:
    1. You have full power to: (i) enter into this Agreement, (ii) perform your obligation hereunder according to this Agreement, and (iii) to use Our Services;
    2. You only use Our Services for your direct use and not on behalf for another person;
    3. You know your Recipient very well or you know that your Recipient engaged in legitimate business;
    4. The use of Our Services may not breach any relevant applicable law and regulation, including but not limited to the Anti Money Laundering Laws under Indonesian or any other relevant applicable law;
    5. e.You are not using Our Services for engaged and transaction in and in relation with: (i) Arm/Defense Business; (ii) private security firm and Private military contractor; (iii) counterfeit/pirated goods; (iv) Dealers in precious metals, stones, and jewelry; (v) Embassies, Diplomatic Missions and Consulates; (vi) Marijuana Industry and other recreational drug Industries; (vii) virtual currency; (viii) prostitution; (ix) lotteries and gambling, online or offline; (x) Rough diamond trade; (xi) Shell Banks; (xii) Unlicensed Financial Institutions, where licensing is required; (xiv) Any other Illegal Activities.
    6. If you are Legal Person, you have taken all necessary legal actions to allow your personnel or other people to use your access to Our Services and/or to carry out other obligations under this Agreement.
  2. You are solely responsible for any costs, losses, and interests in whatsoever form which:
    1. Resulted from any misleading, false, and/or inaccurate information and documents that you provide to us in connection to Our Services;
    2. Resulted from Your breach of this Agreement;
    3. Resulted from and related to any agreement between You and Your Recipient or any other parties;
    4. Which not covered as Our Liability as stipulated under Article 4 of this Agreement.

6. Intelectual Property Right

  1. You acknowledge that Transfez and/or its licensors is/are the owner of any right and property including but not limited to the intellectual property rights which 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, the Application the Portal, and the Services, whether the rights is registered or not. Further, you acknowledge that the applicable law protects the ownership, including the Intellectual Property Rights.
  2. Therefore, you may not, except as expressly permitted in these Agreement, 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. Any Other Important Clause

  1. Amendment of this Agreement
  2. We may amend this Agreement by posting the latest version on the Application or the Portal. Once it has been posted, the amendment version will be effective. We will notify you about the changes of the Agreement by email. In the case you do not agree with the amendment version of the Agreement, please terminate your Transfez account and discontinue to use our Services. It is your responsibility to periodically review this Agreement to stay informed of updates. You will be subject to, and will be deemed to have been made aware of and to have accepted, the changes in any revised Agreement by your continued use of Our Services after the date such revised Agreement are posted.

  3. The availability of Our Services
  4. We will give our best effort (but not guarantee) to make our Services will always be available for you. We are not responsible to you if for some reasons our Services are unavailable for a certain periods of time.

  5. We do not have control of Virus and Bugs
  6. Therefore, We will not guarantee that Our Application, Our Website, and/or Our System is free from viruses and bugs. You are solely responsible to make available in every protection necessary, including but not limited to antivirus in your devices.

  7. We do not have control over the security of your bank account
  8. Therefore, any losses arising from unauthorized use of your account are not our responsibility.

  9. Transaction News Column
  10. We cannot guarantee that the transaction news columns that you enter in the Application and/or Portal (if any) can be forwarded and/or read by the Recipient. By using our services, you already know and agree to this and release us from all legal claims related to this matter.

  11. Right of Refusal and Termination
  12. In our absolute discretion, we may, without prior notice and tell 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 you listed on the relevant restricted or sanctioned list or relevant political exposure person list;
    2. We find Your Recipient listed on the relevant restricted or sanctioned list or relevant political exposure person list;
    3. We suspect have a reason to believe that you are engaged in illegal activities which including but not limited to money laundering and terrorism operation;
    4. We suspect that your Transfez Account is used by any other parties;
    5. We are asked by the Government Officials to hold or refuse your transaction and or terminate you your account.
  13. Privacy Policy. Please see Our Privacy Policy. Our Privacy Policy shall be deemed as an integral part of this Agreement. Article 1 Sub Clause iii of this Agreement shall apply on Our Privacy Policy.
  14. No Transfer Right and Obligation Without Our Approval: Your rights and obligations under this Agreement may not be transferred to other person, unless we have agreed in writing.
  15. Severability: If there is any article in or of part of this Agreement, 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 Agreement and all other parts or articles shall remain in effect.
  16. Governing Language: This Agreement 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 Agreement, the Indonesian language version shall prevail for all purposes and supersede all discrepancies in language.
  17. Dispute Resolution: All disputes between you and Us arising out of this Agreement shall be finally resolved in the administrative office of Pengadilan Negeri Jakarta Selatan. However, You and Us are agreed that we will do everything necessary to settle the case in a proper amicable settlement.
  18. Cancelation Policy: You agree that you cannot cancel your Transaction Order after you pay the exact amount to the Bank Account that designated in the Payment Instruction. Therefore, we warn you to double-check every Transaction Order that you have made before you pay to the Bank Account that designated in the Payment Instruction.
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Prudential Centre Lt 22
Kota Kasablanka
Jl Casablanca Raya Kav 88
Jakarta Selatan
Indonesia

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Questions/partnerships:
hello@transfez.com

Licensed & under the
supervision of:
Bank Indonesia & PPATK

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Member of the
association of:
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.