Terms and Conditions

  1. Definitions
    1. "The Company" means Secure Currencies Limited (company number: 05062377) whose registered office is American House 102 High Street West Wickham Kent BR4 0NF.
    2. "Contract Note" means a note produced by the Company which sets out the details relating to the purchase by the Client of Foreign Currency
    3. "The Client" means any person or company that places an Order for Foreign Currency with the Company
    4. "Client Payment" means payment made the Client to the Company for the purchase of Foreign Currency
    5. "Foreign Currency" means any currency that the Company can purchase on behalf of the Client
    6. "Order" means a request from the Client asking the Company to provide Foreign Currency whether orally or in writing.
    7. "Value Date" means the date on which the Company delivers the Foreign Currency and the date on which the Client pays the Client Payment
  2. Services to be provided
    1. The Company provides the following services ("the Services"):
      1. At the Client's request and on payment of the Client Payment the Company shall provide Foreign Currency to the Client.
      2. At the Client's request and on payment of the Client Payment the Company shall provide Foreign Currency to the Client for delivery at a specified future date under a Forward Contract.
    2. No Client shall be entitled to use the Services until they have opened a client account with the Company. In order to open an account each Client will be obliged to produce evidence of their identity in a form acceptable to the Company.
  3. Clients Obligations
    1. The Client shall provide the Company with a fully completed and correct Order, which details the type, amount and date for delivery of Foreign Currency. The Company may require written confirmation of any Order made orally.
    2. The Client maybe required to pay a non-returnable 10% deposit at the request of the Company at the time the Client places an Order.
    3. The Client will be required to pay the Client Payment (less deposit, if any) on the Value Date. The Client will be informed by the Company of the details of an account to which the Client Payment is to be made.
    4. The Client shall pay the full amount of the Client Payment and the Client agrees to pay promptly without demand, deduction or set-off.
    5. On receipt of the Contract Note the Client shall sign and return the Contract Note to the Company within [24] hours of receipt. The Client will notify the Company within [24] hours of any error of discrepancy in the Contract Note.
  4. Company's Obligations
    1. On receipt of an Order from a Client the Company will create a Contract Note. The Contract Note shall be sent to the Client.
    2. The Company shall deliver to the Client the Foreign Currency as set out in the Contract Note on the Value Date. The Company shall be under no obligation to deliver the Foreign Currency unless it is in receipt of the Client Payment.
    3. The Company shall be entitled to deduct from the Foreign Currency any transfer charges or any other amount that it is required to pay by law or regulatory authority.
  5. Warranties
    1. The Client warrants that:
      1. they have the authority to take the actions required to comply with these terms and conditions and are acting as principal and not an agent for any other person;
      2. they have read and accepted these terms prior to placing an order;
      3. they have complied with all law and regulations applicable to the Client and the Order; and
      4. they will provide any information to the Company that the Company reasonably requires.
  6. Termination
    1. The Company shall be entitled to terminate any transaction that is subject to these terms in the event that:
      1. The Client does not make the Client Payment on the Value Date or breaches any other term in these terms.
      2. The Client fails to return the signed Contract Note within [24] hours of receipt.
      3. The Client convenes any meeting of creditors or passes a resolution for winding up or suffers a petition for winding up; or
      4. The Client has an administrative receiver or receiver appointed over the whole or part of its assets or suffers the appointment of an administrator;
      5. being an individual has a bankruptcy order made against him or compounds with his creditors or comes to any arrangements with any creditors; or
      6. being an individual dies or becomes incapable by reason of mental incapacity.
    2. The Client agrees to notify the Company forthwith of if any of the events listed in clause 6.1 occur.
    3. Failure by the Company to enforce any condition of these terms at any time or for any period shall not waive that term or condition or the right at any time subsequently to enforce all terms and conditions of this agreement.
    4. In the event that the Client is late making any payment due under these terms and the Company elects not to terminate the agreement, the Client shall be liable to pay interest at a rate of 4% per annum above the base rate, from time to time, of Barclays Bank plc on the outstanding sum.
  7. Limitation of Liability
    1. Neither the Client nor the Company shall be liable for any failure or delay in performance of any Order which is caused by circumstances beyond the reasonable control of either party.
    2. Except in the case of death or personal injury caused by the Company's negligence, the Company's liability under or in connection with these terms, whether arising in contract, tort, negligence, breach of statutory duty or otherwise, shall not exceed a sum equal to the additional direct costs incurred by the Client in acquiring the Foreign Currency from another source on the open market.
    3. The Company shall not be liable to the Client in contract, tort, negligence, breach of statutory duty or otherwise for any loss, damage, costs or expenses of any nature whatsoever incurred or suffered by that other party of an indirect, special or consequential nature including without limitation any economic loss or other loss of turnover, profits, business or goodwill.
    4. The Client agrees to indemnify and keep indemnified the Company from and against any and all loss, damage or liability (whether criminal or civil) suffered and legal fees and costs incurred by the Company resulting from a breach of these terms by the Client.
  8. 8. Time of the Essence
    1. Time shall be of the essence for the purposes of any provision of these terms.
  9. General
    1. An Order shall be deemed to be on offer by the Client. The offer to purchase Foreign Currency shall be accepted and a binding contract shall be formed when the Company sends the Contract Note to the Client.
    2. These terms shall apply to all transactions between the Client and the Company and shall take precedence over any other terms and conditions.
    3. No variation in these terms and conditions shall be valid unless agreed in writing by the Company.
    4. The Client acknowledges that once the Contract Note has been issued provision of the Services has begun and the Client has no right to cancel, withdraw or terminate the Order or agreement between the parties.
  10. Telephone Calls
    1. The Client accepts that the Company may record telephone conversations between the Client and the Company and that such recordings may be used to determine any dispute between the Client and the Company.
  11. Governing Law
    1. These terms shall be governed by and construed in accordance with the law of England and Wales and each party agrees to submit to the exclusive jurisdiction of the courts of England and Wales.