Cassiopay's Terms and Conditions

‍IMPORTANT INFORMATION: This terms and conditions and all its annexes, and schedules (collectively the “Agreement”) govern the use of the Payment Services defined in Clause 1, which are provided in Canada by Cassiopay Limited, whose details are in Clause 2 (“Cassiopay”, “we”, “us”, “our”) to any person or legal entity whose application we approve (“Customer”, “you”, “your”). Words that begin with a capital letter have the meaning given where they first appear either in this Agreement or in Clause 1.

By applying for your Account, you agree that you have read and understood the terms of this Agreement (a copy of which you may download at any time). This Agreement shall commence upon the submission of your application and continue unless cancelled under Clause 10 or terminated under Clause 12. We reserve the right to change this Agreement by giving 60 days’ notice to you in accordance with Clause 18. If we do this, you may terminate this Agreement immediately before the proposed changes take effect. Otherwise, by using the Payment Services, you: (1) acknowledge that you have read and understood this Agreement; (2) represent that you are 18 years of age or older and of legal age to enter into a binding agreement; and (3) accept this Agreement and agree that you are legally bound by them. However, you agree that changes to the Applicable Exchange Rate may be applied immediately and at the rate quoted via the Payment Services at the time of the relevant Transaction. Please also read the conditions of redemption in Clause 11 before applying for your Account.

Key information relating to your Transactions will be provided to you at the email address you register with us and/or in your Account. You may access, download, and print this information at any time by logging in to your Account. In addition, you agree that we may provide notices or other information to you from time to time by posting it in your Account, emailing it to your registered email address, mailing it to your registered physical address, calling you by phone or sending you mobile messages. Notices to you by email or mobile messages shall be deemed given 24 hours after the email or mobile message is sent, unless the sending party is notified that the email address is invalid. Notices sent by registered mail shall be deemed to have been received three days after the date of mailing. If you do not wish to receive update messages and/or marketing communications from us, you may opt-out by following any instructions included in the communication or by contacting us at support@cassiopay.ca. Please be aware that although you may opt-out of update messages and/or marketing communications, we reserve the right to email you administrative notices regarding the Payment Services, as permitted under Canada’s anti-spam legislation (CASL) and other applicable laws. We will make commercially reasonable efforts to respond to opt-out requests as quickly as possible, in accordance with applicable law.

1. Definitions & Interpretation - In this document, if we use words that start with a capital letter, that means the word has been defined in this “Definition & Interpretation” section.
   • “Access Codes” - a set of username, password and a second authentication factor in the form of a single use code used to access your Account and/or initiate a Payment for the purpose of executing a Transfer;
   • "Account" or “E-Wallet” - a data account in our systems where we record your Available Balance, Transaction Data and other information from time to time;
   • “Account Information Service” - an online service to provide consolidated information on one or more  payment accounts held by the payment service user with another payment service provider or with more than one payment service provider;
   • “Account Information Service Provider” or “AISP” - the supplier of an Account Information Service;
   • “Authorised Person” - any person to whom you authorize us to access your Account, contingent upon his approval thorough the Customer Due Diligence process;
   • "Available Balance" - the amount of E-money issued by us to you but not yet spent or redeemed;
   • “Business Day" - Monday to Friday, 9:00 AM to 5:00 PM PST, excluding public holidays in Canada;
   • “Customer Due Diligence” - the process we are required to go through to verify the identity of our Customers;
   • “Customer Funds Account” - the segregated bank account where we hold relevant funds corresponding to your Available Balance in accordance with the safeguarding provisions of the Retail Payment Activities Act;
   • “E-money” - monetary value issued by us to your Account on receipt of funds on your behalf in our Customer Funds Account equal to the amount of funds received;
   • “Exchange Rate” - the exchange rate which is presented in your Account and is applied when you request to convert a certain currency to another currency;
   • “Fees” - the fees payable by you for the Payment Services;
   • “IBAN” - International Bank Account Number (“IBAN”) used to identify bank accounts to a specific account holder for the purposes of local and international payments;
   • “Payment” - a payment through an Account, using any payment method supported by Cassiopay for which funds are either received or sent by us on your behalf of any Authorized Person;
   • “Payment Initiation Service” - an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider;
   • “Payment Initiation Service Provider” or (“PISP”) - a payment service provider who supplies a Payment Initiation Service;
   • "Payment Services" - the services supplied by us to you under this Agreement, including Accounts; and executing Transactions;
   • “Cassiopay IBAN” - a virtual IBAN issued by our bank service provider that we allocate to your Account which can be used for the purpose of sending and/or receiving a Transaction;
   • "Transaction" - Payment resulting in a credit or debit of Account, along with associated Fees;
   • “Transfer” - a transfer of E-money from one Account to another Account within Cassiopay ecosystem.
2. Contact and Regulatory Information
   1. Your Account can be managed online at www.cassiopay.com or via email to support@cassiopay.ca.
   2. Cassiopay utilizes a variety of payment network providers as the issuer for Your Cassiopay IBAN and provider of the Payment Services. To receive specific details related to payment network provider for your account, please contact us through our platform messaging channel, live chat, or email via support@cassiopay.ca
3. Type of Service, Eligibility and Account Access
   1. You will have only one Account where your Available Balance is located.
   2. Your Payment Services may not be activated unless we have been provided with the required information so that we may identify you and can comply with all applicable Customer Due Diligence requirements. We shall keep records of such information and documents in accordance with all applicable legal and regulatory requirements.
   3. You agree, represent and warrant that all information you provide to us, including but not limited to any contact information or registration information, is truthful, accurate, and up to date. You further agree to maintain the accuracy of your Account information and to inform us promptly of any changes to your information, including but not limited to any changes to your email address. To learn more about how your personal information is collected, used, disclosed, and otherwise handled, please consult our Privacy Policy.
   4. Reference to a currency (e.g., Dollars) shall mean that amount or the local currency equivalent in which your Account is denominated.
   5. Any Transaction on your Account in a currency other than the currency in which your Account is denominated, will require a currency conversion using an Applicable Exchange Rate.
   6. The Available Balance on your Account will not earn any interest and may be charged with a negative interest rate calculated based on the Available Balance in your Account and the applicable rate at the end of each month.
   7. The Payment Services are prepaid payment services and not a credit or bank product, you must therefore ensure that you have a sufficient Available Balance from time to time to pay for your Transactions and applicable Fees. If for any reason a Transaction is processed, and the Transaction amount exceeds the Available Balance, you must repay us the amount of such excess immediately and we shall be entitled to stop any existing or subsequent Transactions from proceeding.
   8. This Agreement does not give you any rights against any third party.
   9. Only persons over 18 years of age and which reside in one of our acceptable jurisdictions, are entitled to register for the Payment Services. Only companies, partnerships, and sole traders registered in one of our acceptable jurisdictions are entitled to register for the Payment Services. You may receive the full list of requirements by contacting us upon application submission. We maintain the right to refuse service for any reason even if you fulfil the above.
   10. Each time you seek access to your Account, we will ask for your Access Codes. If the correct Access Codesare entered, we will assume that you are the person giving instructions and making Transactions and you will be liable for them, except to the extent provided for in Clause 8. We can refuse to act on any instruction that we believe: (i) was unclear; (ii) was not given by you; (iii) might cause us to breach a legal or other duty; or (iv) if we believe the Payment Service is being used for an illegal purpose.
   11. We will do all that we reasonably can to prevent unauthorized access to the Account. As long as you have not breached the other terms contained in this Clause 3 or Clause 8, we will accept liability for any loss or damage to you resulting directly from any unauthorized access to the Account pursuant to Clauses 14 and 15 of this Agreement.
4. Service Limits & Transfers
   1. Transactions may be restricted by Account type, individual usage patterns and payment risk profiles. For anti-money laundering and anti-fraud reasons, we reserve our rights to change particular payment restrictions (including from those published or included herein) without notice and to the extent required to meet our regulatory obligations.
   2. We cannot be held liable for the payment process or fees associated with bank(s) and or intermediary bank(s) to process payments from you to us. Any fee(s) charged by third parties, not limited to receiving, processing, or crediting a payment for you will be deducted by us before crediting the remaining balance to you.
   3. You are responsible for checking and confirming payment details and fees before making a Payment from your Account.
   4. Cassiopay will credit Payments received to your Account at least once a day and before the end of the Business Day. Amounts received after the cut off period will be processed the next Business Day and you will hold Cassiopay and/or any of its payment network providers free and clear from any responsibility is this regard.
   5. You may be asked to provide us with evidence of source of funds for us to meet our regulatory requirements, in which case you agree to provide that evidence promptly. You represent and warrant to us that the evidence you provide to us is up to date, complete and accurate.
   6. You will be responsible for ensuring that the correct details are provided in any Payment created for you or any Authorized Person. You must ensure at all times that you have a sufficient balance on your Account to allow for the funds to be debited from your Account. You are responsible for checking the terms and conditions that have been provided to you by us. Cassiopay and any of our providers, vendors, and related third parties reserve(s) the right to decline or terminate any Payment instruction(s) that you have requested for any reason, which we are not obligated to provide the reason.
   7. You may incur a charge for incoming Transfers if there are not enough funds in your Account to pay the associated Fees related to incoming Transfers.
5. Use of the Payment Services
   1. You may access your Account information by logging into your Account through our website at https://www.cassiopay.com. From here, you will be able to view details on your Transactions, including dates, currencies, charges, or exchange rates applied. This information is accessible at any time and can be stored and reproduced as necessary.
   2. You can use the Payment Services up to the amount of the Available Balance for Transactions.
   3. The value of each Transaction and the amount of any Fees payable by you under this Agreement will be deducted from the Available Balance.
   4. Once a Transaction is authorized, the relevant payment order may not be withdrawn (or revoked) by you after the time it is received.
   5. A Transaction will be deemed to have been received by us at the time you authorize the Transaction as it has been received by us at the time it is issued by you via the Account, or if the Transaction was done by email request, then within the time the Payment confirmation email was sent. You may, however, request for a recall of the Transfer.
   6. Where a recall of a Transfer is requested by you and agreed between us and you, we may charge a fee for the recall of the Transfer.
   7. We will ensure that the amount of a Transfer is credited to a payee as soon as possible and in any event as required by applicable law. You may inquire us about the expected time for the Transfer to arrive to the payee via customer service email or via your Account.
   8. In order to protect you and us from fraud, third parties may seek electronic authorization before processing any Payment. If a third party is unable to get an electronic authorization, they may not be able to authorize your Payment.
   9. We may refuse to authorize any use of the Payment Services which could breach this Agreement or if we have reasonable grounds for suspecting that you or a third party have committed or are planning to commit fraud or any other illegal or un-permitted use of the Payment Services.
   10. Your ability to use or access the Payment Services may occasionally be interrupted, for example if we need to carry out maintenance on our Systems. Please contact Customer Services via our website to notify us of any problems you are experiencing using your Account and we will endeavor to resolve any problem.
   11. Where applicable, you may apply to us for additional Authorized Persons, for use of your Account. Additional Authorized Persons, for whom you are legally responsible, must be 18 years of age or older. It is your responsibility to authorize the Transactions incurred by each additional Authorized Persons on the relevant Account and to ensure that the additional Authorized Persons keep to the provision of this Agreement. You are responsible for their use of the Account and for paying any amounts they add to your Account even if the additional Authorized Persons do not keep to the provisions of this Agreement. We accept no responsibility or liability of any kind whatsoever for use of the Account by any Authorized Persons for Transactions not authorized by you. If you successfully register an additional Authorized Person, we will provide that Authorized Person with a separate access credentials, for which we will charge you an additional application fee. Upon receipt of the registration request for additional Authorized Person, we will require the following:
       • you are providing them with the copy of this Agreement (by using the Account, the additional Authorized Person consents to the terms of this Agreement, which will then bind you and the Additional Authorized Person in relation to the use of the Account);
       • you continuing to hold the Account;
       • you are informing the additional Authorized Person that you are still able to use the Account;
       • us obtaining such further information and documentation in order to enable us to comply with all applicable Customer Due Diligence anti-money laundering requirements in relation to the additional Authorized Person.
   12. You will remain responsible for the use of the Payment Services and for any Fees and charges incurred by the Authorized Person(s), and you will continue to be regarded as the holder of any funds already or subsequently loaded on the Account. The use of an Account in relation to which an Authorized Person has been registered will be regarded as confirmation that you have provided the Authorized Person with this Agreement.
   13. You or any Authorized Person may ask us to remove another Authorized Person. An Authorized Person may not request to add additional Authorized Person, as this will need to be requested only by you as the principal holder of the Account.
   14. You agree that we may give information about your Account to each Authorized Person and restrict what an Authorized Person can do in relation to your Account.
   15. Except as required by law, we shall not be responsible, and you will be solely responsible, for compiling and retaining your own copy of the data in your Account and your activities in connection with this Agreement. Upon the termination of this Agreement for any reason, we shall have no obligation to store, retain, report, or otherwise provide any copies of, or access to, the Transaction data or any records, documentation, or other information in connection with any Transactions or the Account.
   16. You agree to only use the Payment Services for lawful purposes and to always adhere to all laws, rules, and regulations applicable to the use of the Payment Services, including the terms of this Agreement.
   17. You may not use the Payment Services to receive or transfer any funds on behalf of any other natural person or legal entity.
6. Access by Third Party Providers
   1. You may consent to regulated third party providers (PISPs or AISPs) accessing your Account online to make payments or obtain information about balances or Transactions on your Account.
   2. The PISPs and/or AISPs must be appropriately registered and authorized in accordance with the relevant authorities. You should check with the regulatory authority of the relevant country before giving consent to the relevant PISP/AISP. We will not liable or responsible for any action made by the PISP or AISP on your account based on your relationship with it.
   3. Any consent you give to a third-party provider is an agreement between you and it, we will have no liability for any loss whatsoever, as a result of any such agreement.
   4. Before giving consent, you should satisfy yourself as to what degree of access you are consenting to, how it will be used and who it may be passed on to.
   5. You should make yourself aware of any rights to withdraw the consent of access from the third-party provider and what process it has in place to remove access.
   6. To the extent permitted by law or regulation and subject to any right to refund you may have under this Agreement, between you and us, we are not responsible for any actions that the relevant third party takes in relation to suspending or terminating your use of their service or for any resulting losses. We are also not responsible for, or a party to, any agreement that you enter into with any relevant third party. You should make sure that you read and comply with such agreement or other applicable policies and note that this Agreement will continue to apply between us, including to any Payment Services and our Fees as stated continue to apply.
   7. Where appropriate, we may deny access to your Account to any third party where we consider such access to be a risk of money laundering or terrorism financing, fraud or other criminal activity. Should we need to take these actions and where possible, we will give reasons for doing so unless restricted by law or for internal security reasons.
7. Refusal of Acceptance by Third Parties
   1. Some third parties may not accept to receive funds or to send funds using our Payment Services. It is your responsibility to check the policy with each third party you intend to pay or receive payment. We accept no liability if a third party refuses to accept payment using our Payment Services or refuses to send a payment to your Account using our Payment Services.
   2. In relation to any dispute between you and a third party in this regard, provided you are able to satisfy us that you have already made all efforts to resolve the dispute with the relevant third party, we will attempt to assist you so far as is reasonably practicable. We may charge you a recall fee for any such assistance we may give you with any dispute. If there is an un-resolvable dispute with a third party in circumstances where the Account has been used for a Payment to or from that third party, you will be liable for the Payment and will have to resolve this directly with the relevant third party.
8. Managing & Protecting Your Account
   1. You are the sole responsible for the safekeeping of your Access Codes for your Account.
   2. Do not share your Access Codes with anyone. You must keep your Access Codes safe and separate from your Account credentials or any record of your Account number and not disclose it to anyone else. This includes:
      • memorizing your Access Codes as soon as you receive it, and destroying the post mail or other authorized communication used to transmit it to you;
      • never writing your Access Codes on anything you do not have exclusive access to;
      • keeping your Access Codes secret at all times, including by not using your Access Codes in a manner which may allow any third party to access, copy, use or see them;
      • not disclosing your Access Codes to any person.
   3. If you disclose the Access Codes to any Authorized Person, you are responsible and liable for their access, use or misuse of the Account, their breach of the terms of this Agreement or disclosure of the Access Codes
   4. The Payment Services may only be used by you and each Authorized Person. You must not allow any other person to use the Payment Services except Authorized Persons.
   5. Failure to comply with Clauses 8.2 and/or 8.3 and/or 8.4 may affect your ability to claim any losses under Clause 14 in the event that we can show that you have intentionally or negligibly failed to keep the information safe, or you have acted fraudulently with undue delay or with gross negligence. In all other circumstances, your maximum liability shall be as set out below at Clause 15.
   6. If you believe that someone else knows your Access Codes details, you should contact us immediately in accordance with Clause 13.
9. Identity Verification
   1. You must notify us within 7 days of any change in the Account identity details or the Account contact details. You can notify us by contacting Customer Services who may require you to confirm such notification in writing. You will be liable for any loss that directly results from any failure to notify us of such a change as a result of undue delay, your gross negligence or fraud. We will need to verify your updated Account details and shall request the relevant supporting documents from you, as we may deem necessary.
   2. We reserve the right, at the time of your application or at any time in the future, to satisfy ourselves as to the Account identity details, Account contact details, and any details relating to you or any Authorized Person, and to request relevant supporting documents in any manner which may be deemed necessary by our compliance team, and to the request of any third party our service is provide through.
   3. You authorize us to perform electronic identity verification checks directly or using relevant third parties.
   4. Any cost associated with the production of the supporting documents required by us shall be borne solely by you, even if such supporting documents do not satisfy our requests.
   5. To learn more about how your personal information is processed, collected, used, disclosed and otherwise handled, please consult our Privacy Policy.
10. Right to Cancel (“Cooling-Off”)
    1. You have a right to withdraw from this Agreement within 14 days from the day you applied for ourPayment Services under the following conditions (the “Cool Off Period”):
       • You must inform us that you wish to withdraw from this Agreement, and you must not use the Payment Services. We will then cancel your Account Payment Services and reimburse the amount of Available Balance on the Account to you. However, we reserve the right to hold the Available Balance for up to 30 business days from receipt of your instructions before returning the Available Balance, to ensure that details of all Transactions have been received and that the Payment Services have not been used fraudulently.
       • The Application Fee shall not be refundable.
    2. After the Cooling Off Period, you may only terminate the Payment Services as described in Clause 12.
11. Expiry & Redemption
    1. Your funds are available for redemption by contacting us at any time or using the Account by online means. We reserve the right to request identification documentation in order to ensure redemption is performed in strict accordance with applicable law.
    2. Your funds are available for redemption by contacting us at any time or using the Account by online means. We reserve the right to request identification documentation in order to ensure redemption is performed in strict accordance with applicable law.
    3. We shall have the absolute right to close your Account and submit a wire recall claim for the relevant Transactions if your Account is in negative standing for more than 30 days. If our wire recall is successful, funds paid to your Account may only be used to satisfy the negative balance of your Account, and your Account will remain closed. The remainder of the amount, if any shall remain, shall only be paid to an account under your name once we receive your account details.
    4. If your Account is inactive (including, without limitation, no access have been made to the Account or payment of a Transaction have been made) for at least 3 consecutive months and has an Available Balance, we may (but we are not obliged to) notify you by sending an e-mail to your registered e-mail address and give you the option of keeping your Account open and maintaining or redeeming the Available Balance. If you do not respond to our notice within thirty (30) days, we will automatically close your Account and initiate a Transfer of your Available Balance to the last payment account notified by you to us which belongs to you (your “Nominated Bank Account”). In case you do not have a Nominated Bank Account, the Available Balance shall be kept in a segregated account which will incur Fees for the monthly safe keeping of the funds, negative interest rate, and any other fee that might be levied by us or on us by any third party.
12. Termination or Suspension of Your Account and/or Processing of Transactions
    1. We may terminate this Agreement and your use of the Payment Services with prior notice of at least 30 days, for any reason.
    2. This Agreement and your use of the Payment Services will also end when your ability to initiate Transactions ceases.
    3. We may terminate or suspend, for such period as may reasonably be required, your use of the Payment Services in whole or in part at any time or the processing of any Transaction(s) if:
       • there is any fault or failure in the relevant data processing system(s);
       • we reasonably believe that you have used or are likely to use the Payment Services, or allow them to be used, in breach of this Agreement or to commit an offence;
       • any Available Balance may be at risk of fraud or misuse;
       • we suspect that you have provided false or misleading information;
       • we are required to do so by law, the police, a court or any relevant governmental or regulatory authority;
       • we are required to fulfil our legal obligations in relation to the fight against money laundering and financing of terrorism;
       • there is suspicion of unauthorized or fraudulent access to or use of your Account or that any of its security features have been compromised, including the unauthorized or fraudulent initiation of a Transaction;
       • we have reasonable grounds to believe you are carrying out a prohibited or illegal activity;
       • we are unable to verify your identity or any other information pertaining to you, your Account or a Transaction.
    4. If any Transactions are found to have been made using your Account after expiry, you must immediately repay such amounts to us.
    5. Where it is practicable and lawful for us to do so or would not compromise reasonably justified security reasons, we will notify you via email of the suspension or restriction and the reasons for it before such measures take place or immediately thereafter.
    6. We will reinstate your Account or execute the relevant Transaction(s) as soon as practicable after the reasons pursuant to Clause 11.4 no longer apply or exist.
    7. If you wish to terminate the Payment Services at any time, you must request termination and the return of your Available Balance by email from the email address registered in your Account. Our Customer Services department will then suspend all further use of your Payment Services.
    8. Once we have received all the necessary information from you (including any Customer Due Diligence) and all Transactions and applicable Fees and charges have been processed, we will refund to you any Available Balance less any Fees and charges payable to us, provided that:
       • you have not acted fraudulently or with gross negligence or in such a way as to give rise to reasonable suspicion of fraud or gross negligence; and
       • we are not required to withhold your Available Balance by law or regulation, or at the request of the police, a court or any regulatory authority.
    9. If, following reimbursement of your Available Balance, any further Transactions are found to have been credited or debited or Fees incurred using the Account or we receive a reversal of any prior Transaction, we will notify you of the amount and you must immediately repay to us such amount on demand as a debt.
13. Loss or Theft of Your Card or Misappropriation of Your Account
    1. If you think someone is using your Account and/or Access Codes without your permission, you must contact us as soon as possible and you must provide us with your Account details and/or Account number and either your Username or some other identifying details acceptable to us so that we can be sure we are speaking to you.
    2. Once we have been notified of any loss or theft, we will suspend the Payment Services as soon as we are able, to limit any further losses (see Clause 14). We can only take steps to prevent unauthorized use of the Payment Services if you can provide us with the Account number and Username and any other information we require from you, and if you can produce sufficient details to identify yourself and the relevant Account.
    3. By applying for the Payment Services provided to you by us, you hereby agree to help us, our agents, regulatory authorities and the police if your Account Access Codes are lost, stolen or if we suspect that the Payment Services are being misused.
14. Liability for Unauthorized or Incorrectly Executed Transactions
    1. Subject to Clauses 14.2, 14.3, 14.5 and 14.6, we will do our best effort in order to reimburse you in full for all unauthorized Transactions sent from your Account after noting or being notified of the unauthorized or incorrect Transaction (except where we have reasonable grounds for suspecting fraud), provided that you have informed us of the unauthorized Transaction without undue delay after becoming aware of the Transaction.
    2. You may be liable for losses relating to any unauthorized Transactions resulting from the use of lost or stolen Access Codes or the misappropriate use of your Account, unless the loss, theft or misappropriation was announced to us prior to Transactions taking place and not acted upon by us (except where you acted fraudulently) or was caused by acts or lack of action of our employee, agent, branch or service provider.
    3. You are liable for any losses incurred by an unauthorized Transaction if you have acted fraudulently or failed either intentionally or through gross negligence, to use your Account in accordance with the terms of this Agreement or to keep your Access Codes confidential and secure in accordance with Clause 8.
    4. You shall not be liable for losses incurred by an unauthorized Transaction which takes place after you have notified us of a compromise of your Access Codes according to Clause 8, unless you have acted fraudulently, or where we have failed to provide you with the means to notify us in the agreed manner without delay on you becoming aware of the loss, theft, misappropriation or unauthorized use of your Account.
    5. We shall not be liable for a refund or losses incurred by an incorrectly or non-executed payment Transaction if the details of the payee’s account provided by you were incorrect or if we can prove that the full amount of the Transaction was duly received by the payment service provider of the payee.
    6. We shall not be liable for any unauthorized or incorrectly executed Transactions in case the Transaction was affected by abnormal and unforeseeable circumstances beyond our reasonable control or where we acted in accordance with a legal obligation.
    7. Where we are liable for the incorrect execution of a Payment that you receive under this Agreement, we shall immediately place the amount of the Transaction at your disposal in accordance and credit the corresponding amount to your Account no later than the date on which the amount would have been value dated, had the Transaction been correctly executed.
    8. Where we are liable for the incorrect execution of a Payment by you as payer, we shall, without undue delay, refund to you the amount of the non-executed or defective Transaction, and, where applicable, restore the debited Account to the state in which it would have been had the defective Transaction not taken place.
    9. In the case of a non-executed Payment by you as payer, we shall, regardless of whether we are liable, on request, make immediate efforts to trace the Transaction and notify you of the outcome, free of charge.
    10. In the case of an executed Payment by you as payer, we shall, regardless of whether we are liable, on request, make immediate efforts to trace the Transaction and notify you of the outcome for which a fee will be charged in accordance with our fee schedule.
    11. The right to a refund under this Clause 14 does not apply where you have given consent directly to us for the Payment to be made and, if applicable, information on the Payment was provided or made available to you by us or the payee in an agreed manner for at least four weeks before the due date.
    12. If you are not satisfied with the justification provided for refusing the refund or with the outcome of your claim for a refund, you may submit a complaint to us or contact the complaints authority as described in Clause 16.
    13. If at any time we have incorrectly deducted money from your Available Balance, we shall refund the amount to you. If we subsequently establish that the refunded amount had been correctly deducted, we may deduct it from your Available Balance and may charge you a Fee. If you do not have sufficient Available Balance, you must repay us the amount immediately on demand.
    14. Where any request, Transaction, disputed Transaction, arbitration or reversed Transaction involves third party costs, you remain liable for these, and they will be deducted from your Account or otherwise charged to you.
    15. EXCEPT AS OTHERWISE REQUIRED BY APPLICABLE LAW, THIS SECTION 14 PROVIDES YOUR SOLE AND EXCLUSIVE REMEDIES FOR ALL CLAIMS, DAMAGES, LOSS OR INJURIES (WHETHER DIRECT, INDIRECT, EXEMPLARY, SPECIAL, PUNITIVE, CONSEQUENTIAL OR INCIDENTAL) BASED ON OR ARISING FROM ANY DEFECT, FAILURE, MALFUNCTION, BREACH OF WARRANTY OR ANY OTHER PERFORMANCE, NONCONFORMANCE OR NONPERFORMANCE OF ANY PRODUCT, SOFTWARE OR SERVICE, WHETHER THE CLAIM IS IN CONTRACT, EQUITY, INDEMNITY, INFRINGEMENT, WARRANTY, TORT (INCLUDING NEGLIGENCE, STRICT LIABILITY) OR OTHERWISE AND HOWEVER INSTITUTED.
15. General Liability
    1. Without prejudice to Clause 14 and subject to Clause 15.4:
       1. neither party shall be liable to the other for indirect or consequential loss or damage (including without limitation loss of business, profits or revenues), incurred in connection with this Agreement, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise;
       2. we shall not be liable:
          1. if you are unable to use the Account or Payment Services for any valid reason stated in this Agreement;
          2. for any fault or failure beyond our reasonable control relating to the use of the Payment Services, including but not limited to, a lack of Available Balance or fault in or failure of data processing systems;
          3. for any loss, fault or failure relating to the use of a Third-Party Provider as stated in Clause 6.3, 6.6 and 6.7 of this Agreement,
          4. if a third party refuses to accept a Payment from your Account or make a Payment to your Account or fails to cancel an authorization or pre-authorization;
          5. for any dispute you might have with a third party or other user of the Payment Service where you acted with:
             • 15.1.2.5.1. undue delay;
             • 15.1.2.5.2. fraudulently; or
             • 15.1.2.5.3. with gross negligence (including where losses arise due to your failure to keep us notified of your correct personal details).
    2. You agree that you will not use the Payment Services in an illegal manner, and you agree to indemnify us against all actions, costs, damages, demands, expenses, liabilities, losses, claims or proceedings brought about by such illegal use of the Payment Services by you, your Authorized Person(s) and Additional Cardholder(s).
    3. You are solely responsible for your interactions with third parties sending or receiving funds from your Account through our Payment Services or additional Authorized Persons using the Account. We reserve the right, but have no obligation, to monitor or mediate such disputes.
    4. To the fullest extent permitted by relevant law, and subject to Clause 14 and Clause 15.5, our total liability under or arising from this Agreement shall be limited to repayment of the amount of the Available Balance.
    5. We make no warranty that access to and use of the Payment Services will be uninterrupted or error free.
    6. Nothing in this Agreement shall exclude or limit either Party's liability in respect of death or personal injury arising from that party's negligence or fraudulent misrepresentation.
    7. No party shall be liable for or be considered in breach of this Agreement on account of any delay or failure to perform as required by this Agreement as a result of any causes or conditions which are beyond such party's reasonable control.
    8. EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION 15, CASSIOPAY MAKES NO OTHER WARRANTY ORREPRESENTATION TO YOU, EITHER EXPRESS OR IMPLIED, AND TO THE FULLEST EXTENT PERMITTED BY LAW, CASSIOPAY SPECIFICALLY AND EXPRESSLY DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, ANY IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, SATISFACTORY QUALITY, TITLE, ENJOYMENT OF QUIET POSSESSION, ANY OTHER WARRANTIES ARISING FROM OR OUT OF ANY COURSE OF DEALING, USAGE OF TRADE, SPECIFICATION, PROPOSAL, PERFORMANCE OR CUSTOM, AND ANY STATUTORY WARRANTY ON HIDDEN OR LATENT DEFECTS.
16. Dispute Resolution
    1. We are committed to providing an excellent customer experience for all our end users. In the event you feel you have been mistreated, kindly have your initial communication with our account managers who can be contacted by email to support@cassiopay.ca. Our account managers will listen to your needs and will do their best to resolve the issue promptly and fairly.
    2. You must provide us with all receipts and information that are relevant to your claim.
17. Your Personal Data
    1. In order for us to provide you with the services relating to your Account, we are required to collect and process personal data about you, and any additional Authorized Persons, with your consent or on a legal basis to meet our obligations for Anti-Money Laundering legislation or another governmental organization, legislation, and regulation.
    2. Your consent will be sought for collection of your data and you have the right to agree or decline. We will consider your permission has been given upon you submitting an application for using the Payment Services. Where you decline consent for the collection and processing of your data, we reserve our right to discontinue service due to our obligations as a financial services institution.
    3. We may disclose or verify your personal data with other organizations and obtain further information about you in order to verify your identity and comply with applicable money laundering and governmental regulations. A record of our enquiries will be left on your file.
    4. We may disclose your personal data to third-party service providers contracted by Cassiopay in the course of dealing with your Account and providing you with the Payment Services. Any third parties that we may share your data with are obliged to keep your details secure, and to use them only to fulfil the service they provide us in relation to you. Where we transfer the personal data to a third country or international organization, we ensure this is done securely and that they meet the required standard of data protection in accordance with the applicable Canadian privacy legislations and regulations.
    5. Subject to such restrictions as are permitted or required by applicable law, you have the right to receive information concerning the personal data we hold about you and to rectify such data where it is inaccurate or incomplete. You also have the right to object to or withdraw any consent you have given for certain types of processing such as direct marketing, subject to such restrictions as are permitted or required by applicable law.
    6. Your data will be retained for as long as necessary to fulfil the purposes for which it was collected or until you withdraw your consent, where your data will be destroyed in compliance with the requirements of The Personal Information Protection and Electronic Documents Act.
    7. In the event that you wish to make a complaint about how your personal data is being collected, used, disclosed or otherwise processed by Cassiopay (or third parties as above), or how your complaint has been handled, you have the right to lodge a complaint directly to Cassiopay by emailing our Privacy Officer at support@cassiopay.ca. In case you are not satisfied with your complaint handling by Cassiopay, you may escalate your complaint with the Officer of the Privacy Commissioner of Canada by visiting https://www.priv.gc.ca/en/report-a-concern/file-a-formal-privacy-complaint/file-a-complaint-' about-a-business/ or submitting your complaint via the online form.
    8. Our Privacy Policy provides full details of your rights as a data subject and our obligations as a data processor. Please read this document carefully and ensure you understand your rights. In any case of discrepancy between this section 17 and our Privacy Policy, the latter shall prevail.
18. Changes to the Terms and Conditions - We may update or amend these terms and conditions (including our Fees & Limits Schedule). Notice of any changes will be given on our website, or by e-mail notification, or by SMS at least 60 days in advance. By continuing to use the Payment Services after the expiry of the 60 days’ notice period, you acknowledge that you indicate your acceptance to be bound by the updated or amended terms and conditions. If you do not wish to be bound by them, you should stop using the Payment Services and terminate this Agreement in accordance with Clause 10 before the changes take effect.
19. Miscellaneous
    1. We may assign or transfer our rights, interest or obligations under this Agreement to any third party (including by way of merger, consolidation or the acquisition of all or substantially all of our business and assets relating to the Agreement) upon 30 days’ written notice. This will not adversely affect your rights or obligations under this Agreement.
    2. Nothing in this Agreement is intended to confer a benefit on any person who is not a party to it, and therefore no such person shall have any right under Canadian legislation, but this Clause do not affect a right or remedy of a third party which exists or is available apart from that Legislation.
    3. Any waiver or concession we may allow you, will not affect our strict rights and your obligations under this Agreement.
    4. This Agreement and the documents referred to in it, constitute the entire agreement and understanding of the parties and supersede any previous agreement between the parties relating to the subject matter of this Agreement.
20. Funds Protection - All relevant funds corresponding to your Available Balance are segregated from our funds and held in a segregated clients funds account in accordance with the safeguarding requirements of the Retail Payment Activities Act and all applicable laws and regulations. In the event that we become insolvent, those funds are protected against claims made by any of our creditors in line with the applicable laws.
21. Regulation & Law
    1. The Payment Services and Account are payment services and not deposit, credit or banking products and are not covered by a compensation scheme.
    2. This Agreement shall be governed by and interpreted in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein. In case a dispute has arisen between you and us concerning this Agreement and/or the Payment Services, the parties agree that the dispute, controversy or request arising as a result or in relation to this Agreement (including any dispute regarding its conclusion, execution or termination), will be resolved through non-binding mediation by a mediator approved by both parties. The province or arbitral courts are competent only after the failure of the mediation procedure. In case of such a failure, the dispute shall be conducted exclusively by the competent courts in Vancouver, Canada.