Crypto - Terms and Conditions

Terms and Conditions

The Client agrees to the terms and conditions set out in this document, which effectively form part of the agreement. The agreement stipulates that CanAm and The Client will be entering one or more exchange transactions as stipulated.

Section 1: Definitions:

Bank: A state or federal government entity receiving time and demand deposits, paying interest as such and providing loans. They invest in securities based on such deposits.

Bank Draft: A check drawn against deposited funds by a bank, into another bank account at another institution. This authorizes the second bank to transfer funds to the individual thusly named in the draft.

Certified Check: A check a bank guarantees payment on.

Currency: Paper notes, coins or any other form of money used for public circulation purposes and originally issued by the government.

Financial Institution: They collect funds in the form of financial assets including loans, deposits and bonds (as opposed to physical property)

Foreign Exchange: Trading one form of national currency for another. This occurs over-the-counter, or on an inter-bank system located centrally.

Foreign Exchange Rate: Otherwise known as the rate of exchange. This refers to currency that can be converted into another.

Margin Deposit: This refers to the client providing a security deposit.

Parties: Each individual entity – CanAm or the client are both parties.

Payee: The individual that receives a payment.

Services: The service offerings provided by CanAm.

Settlement: Sale finalization of a currency – also referred to as a closing.

Speculation: Purchasing an asset such as services, with an intention of making a profit from fluctuations in pricing. This is taken at one’s own risk.

Wire Transfer: Funds that are transferred electronically.

Section 2: Scope of Agreement

2.01: These terms and conditions control the parameters for any client performing foreign exchange transactions with CanAm.

Section 3: Representations/Warranties

3.01: The client hereby agrees and acknowledges that:

(a) They are entering this agreement and will adhere to all obligations when it comes to each foreign exchange transaction entered.

(b) The client authorizes this agreement.

(c) This is a binding agreement, free from confliction or violation.

(d) The client is not entering this agreement on behalf of any third party.

(e) There is no event of default present.

3.02: The client agrees that all information provided to CanAm is accurate and true. The client further warrants to the bringing of any information changes to CanAm’s attention.

3:03: Both parties agree that all warranties made will be true at the time they enter this agreement.

Section 4 – Services Offered by CanAm

4.01: The client, taking on the role of customer of CanAm, maybe eligible to gain access to the following services:

1: Trading Services

1b: International Wire Transfers

1b: Foreign exchanges for immediate delivery

1d: Foreign Currency Drafts

1e: Any other services that may be offered by CanAm

2: Risk Management Tools and Programs

4:02: CanAm acknowledges that the client may provide various instructions to CanAm, aligning with procedures stipulated in section 5 of this agreement. The Client can provide either a cash deposit or irrevocable letter of guarantee. This is 100% payable to CanAm, and must emanate from a financial institution that CanAm has authorized. The letter’s maturity date must reflect a minimum of 10 business days following the date of delivery (or settlement date) as stipulated per the transaction.

4.02(a) Should money be owed to CanAm by the Client under any authorized transaction confirmation, CanAm will duly provide the Client with notice in regards to the outstanding amounts. The Client shall have until 17h00 the following business day to fulfil the requirements set out in the payment notice.

4.02(b) Any deposits received by the Client from CanAm will be at CanAm’s sole discretion against payable settlement amounts, or any other amounts owed by the Client.

4.02(c) CanAm will hold funds such as these until the settlement/closing date.

4.02(d) CanAm will continuously use reasonable efforts to process transactions on the day of authorization, though the Client agrees and accepts that this is without any form of guarantee. CanAm cannot be held accountable for how long it takes other various unrelated financial institutions to complete a transaction.

4.02(e) Should the Client wish to cancel, adjust or reverse any transaction for any reason, this can only be done by contacting CanAm in a direct manner. CanAm will do everything in its power as per commercial reasonability to follow through with the Client’s wishes: all costs becoming the responsibility of the Client, who agrees that a cancellation, amendment or reversal may not always be possible. CanAm is not required to cancel anything that has already been accepted and agreed upon by the Client.

Section 6 – Record Keeping

6.01: The client acknowledges that CanAm is entitled to keep a record of all information the Client provides. This information will be further tracked throughout their use of CanAm’s services; however, it shall be solely assigned to internal business use.

6.02: Such records are binding for both parties in the event of any dispute that may arise.

Section 7 – Confidentiality

7.01: CanAm will always take commercially-reasonable caution to keep the Client’s private information confidential. CanAm is entitled to the collection, usage and disclosure of such information, in alignment with CanAm’s privacy policy.

7.02: CanAm is entitled to disclose the Client’s confidential information internally at their own discretion, inclusive but not limited to, employees, agents, officers, and other various affiliate service providers. Should providing of confidential information to a third party, governmental body or agent be required to effectively fulfil the services offered to the Client by CanAm, the Client agrees that this will be allowed, aligning with all legalities and various legal matters.

Section 8 – Credit Check Consent

8.01: The client agrees to provide CanAm with all required banking information to fulfil the services agreed upon by the parties. The client further consents to CanAm contacting the client’s bank if required to verify the validity, accuracy and trueness of any information provided. CanAm is further entitled to obtain a credit report with regards to the client, from a third-party provider, including payment history to establish settlement terms for transactions.

Section 9 – Laundering

9.01: The Client hereby grants CanAm the exclusive right to refuse instructions from the client for any services that CanAm suspects that they are:

(a) In breach of any law or regulation of the jurisdictions the transaction applies to

(b) Following unlawful conduct.

9.02: The client hereby agrees to cooperate with CanAm, providing the company with all information the company reasonably requests to guarantee legislation compliance; in regards to money-laundering and the transmission of any funds that have resulted from a crime of any kind. Failure to cooperate in this regard shall constitute an Event of Default.

9.03: The client acknowledges that law enforcement agencies (or other various regulatory bodies) are entitled to inspect the client’s transactions on any given occasion if cause for suspicion arises. The client accepts that CanAm has the right to disclose information regarding the client’s transactions if they are legally required to do so.

Section 10 – No Interest

10.01: When monies are received that are not needed as margin deposit or for contract settlement, the client accepts that CanAm may on occasion hold such funds. The client agrees that the company shall not be liable to pay any interest on any money that is hold for the client, who further acknowledges that CanAm may hold such funds in the company’s general accounts. The client is entitled to direct payments/fund application by CanAm, but is not entitled to request a return if the funds are already being held for an existing transaction or on margin.

Section 11 – Termination

11.01: CanAm holds the right to terminate this contract at any time with no notice provided.

11.02: The client may only terminate this agreement by providing notice to CanAm.

11.03: If no Event of Default occurs, any transactions entered into before contract rumination will still be carried out to their stage of completion. This agreement shall fail to terminate until all existing transactions are successfully completed.

11.04: An Event of Default is defined as:

(a) An event whereby the client fails to perform obligations on time.

(b) An event whereby the client misrepresents any of the representations or warranties as set out in section 3 of this agreement.

( c ) Any event whereby the client makes a false statement to CanAm.

(d) An event whereby the client becomes bankrupt, insolvent or commits a bankruptcy act.

11.05: Should the client commit an Event of Default, CanAm reserves the right to withhold any further services. The client further acknowledges that CanAm may additionally terminate this contract effective immediately, relieving both parties of any previously agreed upon obligations. CanAm shall provide written notice to the client in such an event.

Section 12 – Right of Set Off

12:01: Should the client owe CanAm monies, CanAm reserves the right to apply all such funds held by the company for the client against this debt. The client accepts that CanAm is not required to provide any notice in this regard of set-off right.

12:02: The client acknowledges that CanAm is further entitled to set-off any amount of money that the client owes to the company, against any amounts that CanAm owes to the client. In this case, no written notice will be required for CanAm to follow through with this.

Section 13 – Limitation of Liability

13.01: CanAm shall not be held liable for any losses/damages the client may suffer while bound to the terms and conditions of this agreement – to an extent that is permitted by all applicable laws. An exception shall occur when any losses/damages are a direct cause of gross negligence/misconduct on CanAm’s behalf.

13.02: The client accepts that CanAm’s liability to them shall be limited to the transaction value the claim arises from at all times.

13.03: CanAm shall at all times use commercially responsible efforts to guarantee payment of funds to meet the client’s requests as soon as humanly possible. However, the client agrees that CanAm shall not be held liable for any losses/damages suffered by the client if the cause is a delay in money received.

13.04: The client hereby agrees that all warranties/representations provided by them will be used and relied on by CanAm in order to effectively determine the client’s eligibility to be granted access to the services offered by the company.

13.05: The client agrees that CanAm will not be held liable for any losses/damages/liabilities caused by a breach of representation or warranty of the client. The parties held harmful include the company and all of its respective directors, employees, officers, security holders and agents.

Section 14 – Terms and Conditions Amendments

14.01: The client agrees that CanAm holds the right to make changes/adjustments/amendments to this agreement at any time.

14.02: Any changes made shall be implemented effective immediately as soon as the client have been provided with notice.

Section 15 – Notice

15.01: The client agrees that CanAm may provide notice to the client using any of the following methods:

(a) By mail/courier to the address provided by the client in this agreement.

(b) By facsimile to the number provided by the client within this agreement.

(c) Via electronic mail to the email address provided by the client within this agreement.

15.02: When a notice is sent on a certain date, the client accepts that CanAm deems that the notice has been received on that date. Notice sent via fax/email shall be deemed by CanAm to have been received on the date of sending. This is under the provision that there is no sign of interruption in service at the time of sending.

Section 16 – Miscellaneous

16.01: The client agrees that they may not assign they’re interest in this agreement without written consent from CanAm.

16.02: The client acknowledges that, should any transaction occur whereby the effective control of the client changes, this change shall be seen as an assignment as mentioned in 16.03. The client agrees that CanAm may assign this agreement without providing any prior notice. This agreement is binding, guaranteeing that the contract along with all interested in transactions shall benefit the company.

16:04. All correspondence between all parties shall take place in English.

16.05: Should any provisions in this agreement be held invalid, illegal or unenforceable in any regard, the provision in question shall only become ineffective to the extent of the invalidity. The remaining provisions shall remain active.

16:06: Agreement headings are for reference purposes only.

16.07: Times in this agreement shall always remain at the essence of this contract.

16.08: This contract comprises the agreement as a whole between both parties.

16.09: This agreement shall be governed by all laws in the province of Ontario and all Canadian federal laws. Both parties acknowledge that the courts of Ontario reserve exclusive jurisdiction for actions/disputes between the involved parties.

16.10: Neither party shall be held liable for failure to uphold their part of the agreement if such failure is caused by an act of God, war, terrorism, civil unrest or other circumstances that are beyond the parties reasonable control.

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