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This Customer Agreement ("Agreement") sets forth the terms and conditions for the use of the KoboTrade Services (from now on referred to as the "Services") provided by KoboTrade Inc. (starting now referred to as the "KoboTrade," "we," "us," and "our"), Kobotrade web application, referred to as Kobotrade App.
By opening, registering, or using a KoboTrade account ("Account"), or by otherwise using the Services, Customers (from now on referred to as "you," "your," or the "Customer") agree to be bound by this Agreement and consent to receive communications related to the Services or your Account in electronic format. In addition, customers are asked to carefully read the terms and conditions outlined in this Agreement when registering to use the Services. Finally, KoboTrade recommends you print out a copy of this Agreement to retain as a reference.
Please read carefully the terms of these policies and the other agreements that apply to you. Your use of sure of the Services may be subject to additional terms and conditions, as communicated by us to you through the Service, and such other terms and conditions are incorporated into this User Agreement. This Agreement contains several sections, and you should read them carefully. The headings are for reference only. In addition, some capitalized terms have specific definitions defined in the Agreement.
KoboTrade is a money service business registered with the Financial Transactions Reports Analysis Centre of Canada ("FINTRAC"), registration number M21379367. KoboTrade provides foreign exchanges and money remittance services to customers resident in Canada.
To be eligible for our Services, you must be at least 18 years old or the age of majority in your province or territory of residence. You further represent and warrant that if you are an individual and open an account with us, you act exclusively for your benefit and do not act on behalf of any third-party principal or third-party beneficiary. Therefore, you must only use the Services to transact on your Account and not on behalf of any other person or entity.
Opening an Account
To use some or all of the Services, you must first open an Account by providing certain information. For legal reasons, all information you provide during the signup process or any time after that must be complete, accurate, and truthful. In addition, you are responsible for keeping your mailing address, email address, telephone number, and other contact information up-to-date in your Account profile(on the transaction dashboard).
Account Security and Privacy
You, not KoboTrade, are responsible for maintaining adequate security and control of all customer IDs, passwords, or any other details you use to access your Account and the Services. However, you must never disclose your account password or customer reference number. We will never ask you to provide your password to a third party or us. Let us know if anyone asks for your password, and contact Customer Support if you are unsure about this or any other security-related aspect of your Account. You must never let anyone access your Account or watch you accessing your Account. If you require assistance, kindly contact our customer service line on 587-287-1362 Monday-Friday, 9 am-6 pm. A live associate will be available to help you.
Suppose you suspect your Account, login details, password, or other security features are stolen, lost, or compromised. In that case, you are advised to change your password and contact customer support immediately if you believe your credentials have been compromised or you are suspicious about the security of your password or any other security features. The compromise of your credentials could enable bad actors to access your Kobotrade account and attempt transactions not authorized by you. Don't hesitate to get in touch with us at once if your transaction history for your Account shows transactions that you did not initiate. You can contact our Customer Support at 587-287-1362.
We rely on you to regularly check the transaction history of your Account and to contact Customer Support immediately in case you have any questions or concerns. We may (but are not obligated to) suspend your Account or otherwise restrict its functionality if we have concerns about the security of the Account or any of its security features or potential unauthorized or fraudulent use of your Account.
You must make sure that your email account(s) are secure and only accessible to you, as your email address may be used to reset passwords or to communicate with you about the security of your Account. Let Customer Support know immediately if your email address becomes compromised. Never utilize any functionality that allows login details or passwords to be stored by the computer or browser you are using or being cached or otherwise recorded. Additional products or Services you use may have other security requirements, as notified to you by us, and you must familiarize yourself with those requirements.
KoboTrade reserves the right to refuse the creation of duplicate accounts for the same user due to security and client identification requirements. If duplicate accounts are detected, KoboTrade reserves the right to close or merge these duplicate accounts without notification to you.
Upon opening a Kobotrade account, we shall permit you to transact a maximum amount of CAD$950; You will be required to verify your identity to transact higher volumes; regulatory obligations require that we verify your identity before you can conduct higher volumes of remittances. In addition, you will be able to remit up to CAD$3,000 equivalent daily after verification. The total volume of transactions/remittances a month for each verified Customer is CAD$10,000.However, note that after 90 days of on boarding as a customer on the Kobotrade website or application, we may request you verify your identity.
KoboTrade reserves the right to access third-party identification services to verify your identity during on boarding as a customer. KoboTrade reserves the right to close, suspend, or limit access to your Account and the Services if we cannot obtain or verify your identity.
KoboTrade, in its sole discretion, reserves the right to suspend or terminate your access to or use of our Website, software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf or some or all of the Services for any reason and at any time upon notice to you.
Reasons we may close your Account include, but are not limited to:
We are requested or directed to do so by any competent court of law, government authority or agency, or law enforcement agency;
We have reason to believe you are in violation or breach of any applicable law or regulation;
We have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing, or other criminal or illegal activity.
We may also suspend your Account if it has been compromised or used for other security reasons or is being used without your authorization or fraudulently.
If we close your Account or terminate your use of the Services for any reason, we'll notify you of our actions. You are responsible for all fees, fines, penalties, and other liability incurred by KoboTrade, other KoboTrade Customers, or a third party caused by or arising out of a breach of these Terms and your use of the Services. You agree to reimburse KoboTrade, any KoboTrade customer, or any third party for any such liability.
On termination for any reason, all rights granted to you in connection with our software application ("App") shall cease, and you must immediately delete or remove the web application or App from your devices.
If you do not log in to your Account for 48 months, KoboTrade may close your Account.
You may send remittances through the KoboTrade Website ("Website") or Mobile App. You are responsible for ensuring the instructions you submit are accurate and complete. Once KoboTrade has executed the transaction, the transaction cannot be canceled or reversed. However, we will not be liable in any way for any loss or delay resulting from any transactional error committed by you while using the kobotrade web application.
Transactions to send money are limited to three thousand (3,000) Canadian dollars per 24-hour period for verified customers.
Error and Unauthorized Transactions
To protect yourself from errors and unauthorized activity, you should regularly log into your Account and review your account transaction page on your dashboard. KoboTrade will notify you of each transaction by emailing your primary email address on file. In addition, you should review these transaction notifications to ensure that each transaction was authorized and accurately completed.
We will rectify any errors that we discover. For example, if the error results in you:
Receiving less than the correct amount to which you were entitled, we shall reimburse you for the shortfall.
Receiving more than the correct amount you were entitled to, if reported before our audit, we shall give you time to pay the overage.
An Unauthorized Transaction occurs when money is sent from your Account that you did not authorize and did not benefit you. For example, if someone steals your password, uses the password to access your Account, and sends a payment from your Account, an Unauthorized Transaction has occurred.
Suppose you give someone access to your Account (by giving them your login information), and they use it without your knowledge or permission. In that case, any transaction resulting from that access will not be considered an Unauthorized Transaction. Therefore, you are responsible for all transactions made in this situation.
Any transactions conducted using your login details and credentials are regarded as your transaction, and we shall not be held liable if your account details were compromised.
We must provide certain information via email, online notification, and SMS. By accepting this Agreement, you agree that we can communicate with you electronically, either by email or posting notices on the Website.
We may call or texts message you at the telephone number(s) you provided. We may place such calls or texts to
provide notices regarding your Account or Account activity,
Investigate or prevent fraud
We may share your phone number(s) with service providers with whom we contract to assist us in providing you services but will not share your phone number(s) with third parties for their purposes without your consent.
Collecting Personal Information
Verifying Personal Information
Canadian law requires that we obtain, verify, and record information about you. In addition, we may require that you provide us with non-public, personal, identifying information. In addition, you authorize us to make any inquiries necessary to validate your identity, including requesting photo ID, proof of residence, and using third-party identification services.
You may link to our Website, provided that you comply with the terms and conditions of this Agreement and follow specific rules. You may link to our Website, provided:
You do so in a way that is fair and legal and does not damage our reputation or take advantage of it;
You do not suggest any form of association, approval, or endorsement on our part where none exists;
You do not frame our Website on any other website;
You do not refer to any of our Services as "banking" services; and
The Website linking to our Website complies with our Acceptable Use Policy.
We reserve the right to revoke such withdrawal linking permission without notice and for any reason.
In consideration of your agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive license to use the App on your device subject to this Agreement and the App Store Rules. We reserve all other rights. However, from time to time, updates to the App may be issued through App Store or Google Play. Depending on the update, you may only be able to use our Services via the App once you have downloaded the latest version of the App and accepted any new terms.
You are responsible for configuring your information technology, computer programs, and platform to access our Services. It would be best if you used your virus protection software. However, you must not misuse our Services by introducing viruses, trojans, worms, logic bombs, or other malicious or technologically harmful materials. However, you must not attempt to gain unauthorized access to the Services, our Website, our servers, computers, or databases. You must not attack the Services, including via our Website, with any denial-of-service attack. You would commit a criminal offense under applicable law by breaching this provision. We may report any such breach to the relevant law enforcement authorities and cooperate with them by disclosing your identity or other information. In the event of such a breach, your right to access and use our Website and our Services will cease immediately without notice, and you must immediately terminate all such access and use.
You acknowledge and agree that the Company may engage third-party partners and providers to deliver the Services. Specific Web site or App functionality may make available access to information, products, services, and other materials made available by third parties ("Third Party Materials") or allow for the routing or transmission of such Third Party Materials, including via links. Finally, you are directing us to access, route, and transmit the applicable Third Party Materials to you using such functionality.
We neither control nor endorse, nor are we responsible for, any Third Party Materials, including the accuracy, validity, timeliness, completeness, reliability, integrity, quality, legality, usefulness, or safety of Third Party Materials or any intellectual property rights therein. Certain Third Party Materials may, among other things, be inaccurate, misleading, or deceptive. Nothing in this Agreement shall be deemed a representation or warranty by us concerning any Third Party Materials. We have no obligation to monitor Third Party Materials, and we may block or disable access to any Third Party Materials (in whole or part) through the Website or App at any time. In addition, the availability of any Third Party Materials through the Website or App does not imply our endorsement of, or our affiliation with, any provider of such Third Party Materials, nor does such availability create any legal relationship between you and any such provider.
Your use of Third Party Materials is at your own risk. It is subject to any additional terms, conditions, and policies applicable to such Third Party Materials (such as terms of service or privacy policies of the providers of such Third Party Materials).
Please note that email communications will not necessarily be secure. Accordingly, you should not include credit card or other sensitive information in your email correspondence.
Limitation of liability
In any other case, you expressly understand and agree that in no event shall we (including, for greater certainty, our parent and affiliates), and the officers, directors, agents, joint ventures, employees, and suppliers of kobotrade be liable for lost profits or any special, incidental, indirect, or consequential, or punitive damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our Website, the services, or this Agreement (however arising, including negligence).
Our liability (including, for greater certainty, the liability of our parent and affiliates) and our (and their respective) officers, directors, agents, joint venture's, employees, and suppliers to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, kobotrade (including for greater certainty our parent and affiliates) and our (and their respective) officers, directors, agents, joint venture's, employees, and suppliers are not liable, and you agree not to hold these parties responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from:
your use of or your inability to use kobotrade's websites and services
delays or disruptions in kobotrade's websites and services
viruses or other malicious software obtained by accessing kobotrade's sites or services or any website or service linked to kobotrade's websites or services
glitches, bugs, errors, or inaccuracies of any kind in kobotrade's websites or services or in the information and graphics obtained from them
the content, actions, or inactions of third parties
suspension or other action taken with respect to your Account
You as the customer need to modify practices, content, or behaviour, or your loss of or inability to do business, as a result of changes to this agreement or kobotrade's policies. Kobotrade reserves the right to modify its policies and this customer agreement at any time consistent with the provisions outlined herein.
This Agreement, along with any applicable policies incorporated herein and made available on the Website, constitutes the entire Agreement between you and KoboTrade(the "Parties") concerning its subject matter and supersedes all prior agreements, correspondence, negotiations, and understandings concerning that subject matter, both written and oral.
Suppose any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction. In that case, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render such term or condition unenforceable in any other jurisdiction.
KoboTrade may change or modify the terms and conditions of this Agreement from time to time at its sole discretion. KoboTrade agrees to notify you of such changes or modifications by:
If required by law, sending a notice of such change or a copy of the amended Agreement to your last address or email address shown in our records; or
Suppose required by law, posting a notice on our Website. However, prior notice of changes may only be given when such information is required by law or when an immediate change is necessary for security purposes.
By continuing to use the Services after any such change, you agree to be bound by this Agreement's changed terms and conditions as of the effective date of such changes.
All intellectual property rights, including copyrights, patents, patent disclosures, inventions (whether patentable or not), trademarks, service marks, trade secrets, know-how, and other confidential information, trade dress, trade names, logos, corporate names, and domain names, together with all of the goodwill associated in addition to that, derivative works, and all other rights (collectively, "Intellectual Property Rights") in and to all documents, work product, and other materials that are delivered to Customer under this Agreement or prepared by or on behalf of KoboTrade in the course of performing the Services shall be owned by KoboTrade. In addition, KoboTrade, as a result of this, grants Customer a license to use all Intellectual Property Rights free of additional charge and on a non-exclusive, worldwide, non-transferable, non-sub licensable, fully paid-up, royalty-free, and perpetual basis to the extent necessary to enable Customer to make reasonable use of the Services.
You agree to indemnify and not hold KoboTrade, its shareholders, subsidiaries, affiliates, directors, officers, employees, agents, representatives, suppliers, third-party service providers, successors and assigns, and related companies harmless from any claim or demand, including reasonable legal fees, made by any third party due to or arising out of your use of the Service, your connection to the Service, your violation of the Agreement, or your violation of any rights of another.
Law and jurisdiction
This Agreement is subject to and shall be construed under the laws of the Province of Alberta and the federal law of Canada. Each of the Parties with this consents to the exclusive jurisdiction of the courts of Alberta concerning any dispute arising under it.
You shall not assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of KoboTrade. Any purported assignment or delegation violating this section is null and void. No assignment or delegation will relieve you of your obligations under this Agreement.
No relationship formed
The relationship between the Parties is that of independent contractors. Nothing in this Agreement shall be construed as creating any agency, partnership, joint venture, or other forms of joint enterprise, employment, or fiduciary relationship between the Parties. Neither party shall have the authority to contract for or bind the other party in any manner whatsoever.
Except as expressly provided herein, the Service is provided to you on an "as is" basis. Kobotrade makes no warranty whatsoever concerning the services, including:
warranty or condition of merchantability
warranty or condition of fitness for a particular purpose
warranty of title
Warranty against infringement of intellectual property rights of a third party, whether express or implied by law, course of dealing, course of performance, usage, of trade, or otherwise.
No waiver by KoboTrade of any of the provisions of this Agreement is effective unless explicitly outlined in writing and signed by KoboTrade. No failure to exercise, or delay in exercising, any rights, remedy, power, or privilege arising from this Agreement operates or may be construed as a waiver thereof. No single or partial exercise of any right, remedy, power, or privilege hereunder precludes any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.
Protection of KoboTrade -
KoboTrade shall not be liable for any damage, cost, or loss of profit of the Customer arising from a failure by KoboTrade to comply with its obligations under this Agreement, where that failure is attributable to fire, flood, storm, strike, riot, any terrorist act, any act of war (whether or not declared), or of any government or other similar entity exercising de facto sovereignty for the time being in any relevant jurisdiction, including any embargo or restriction upon shipping or transport.
Forces beyond Reasonable Control -
KoboTrade shall not be liable or responsible to Customer, nor be deemed to have defaulted or breached this Agreement, for any failure or delay in fulfilling or performing any term of this Agreement when and to the extent such failure or delay is caused by or results from acts or circumstances beyond the reasonable control of Service Provider including, without limitation, acts of God, flood, fire, earthquake, explosion, governmental actions, war, invasion or hostilities (whether war is declared or not), terrorist threats or acts riot, or other civil unrest, national emergency, revolution, insurrection, epidemics, pandemics, lock-outs, strikes, or other labour disputes (whether or not relating to either party's workforce), or restraints or delays affecting carriers or inability or delay in obtaining supplies of adequate or suitable materials, materials or telecommunication breakdown, or power outage.
Collection of Information and Data
We collect your Personal Information and other information when you provide it to us, when you use our services and when you register to use the services of KoboTrade. We may collect the following Personal Information from you: your name, mailing address, email address, phone number, occupation, personal description and photograph. The need for collection of this data is:
to comply with any applicable legal and/or regulatory requirements, including laws outside your country of residence
to comply with legal process
to respond to requests from public and government authorities, including public and government authorities outside your country of residence, upon demonstration of lawful authority
to enforce our Customer Agreement with you
as part of our efforts to keep our Services safe and secure, including to protect our rights, privacy, safety or property, and/or that of our affiliates, you or others, and to investigate, prevent, detect or suppress fraud
We have partnered with a reputable identity verification company called Veriff, who will provide personal identity verification services to all KoboTrade customers. Through this medium may collect and Process, among other data, the following Personal Data:
Your personal information, which mainly consists of information extracted from the identification document, for example name, sex, personal identification code, date of birth, eye color, weight and height, as well as the historic data.
Your document details, such as the name of the document, issuing country, number, expiration date, information embedded to document barcodes (may vary depending on the document) and security features.
Facial recognition data, such as photos, videos and sound recording, photographs taken from you and your document and video and sound recording of the verification process.
Contact details, such as address, e-mail address, telephone numbers, IP address and, if relevant utility bills.
technical data (Device Signature), including but not limited to information about the date, time and your activity in the Services, your IP address and domain name, your software and hardware attributes as well as your general geographic location (e.g. city, state, country);
Biometric data, such as facial identifiers;
Publicly available relevant data, e.g. information about being a politically exposed person (PEP) and checks in public sanction lists.
We may also collect Technical Information from you, including: details of the transactions you carry out on our Website or when using our Services, including geographic location from which the transaction originates; technical information, including the Internet Protocol (IP) address used to connect your computer to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform; information about your visit, including the full Uniform Resource Locators (URL) click stream to, through or from our Website (including date and time); products you viewed or searched for; page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-over's), and methods used to browse away from the page and any phone number used to call our Customer Support number.
Information from other sources
We may receive information about you if you use any of the other websites we operate or the other services we provide. We are also working closely with third parties and may receive information about you from them for example, banks and payment service providers you use to transfer money to us; banks and payment service providers of your recipient; business partners; sub-contractors in technical, payment and delivery services; advertising networks; analytics providers; search information providers; and credit reference agencies; public databases; and social media platforms.
Third Party Advertisers
We may use third-party advertising companies to serve advertisements regarding products and services that may be of interest to you when you access and use the Services and other websites, apps or online services, based on information relating to your access to and use of the Services and other websites, apps or online services on any of your devices. To do so, these companies may place or recognize a unique cookie on your browser (including through use of pixel tags). They may also use these technologies, along with information they and we collect about your online use, to recognize you across the devices you use, such as a mobile phone and a laptop.
Some of our Third-Party Service Providers may be located outside Canada, and may not be subject to Canadian privacy laws. We only share your Personal Data with a Third-Party Service Provider if that provider agrees to our privacy standards as set out in our Non disclosure agreement. Your Personal Data will never be transferred to other third parties without your approval or consent.
Use and disclosure of the information
We may use your Personal Information in the following ways:
To carry out our obligations relating to your contracts and transactions with us and to provide you with the information, products and services that you request from us, as well as related customer service;
To notify you about changes to our Services or to send you other administrative information;
As part of our efforts to keep our Services safe and secure;
to administer our Services and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
To improve our Website and to ensure other Services are presented in the most effective manner.
to measure or understand the effectiveness of advertising we serve and to deliver relevant advertising to you;
To allow you to participate in interactive features of our Services, if you desire.
To facilitate social sharing functionality;
consistent with choices that may be available to you, to provide you with information about other similar goods and services we offer; and
To provide you, or permit selected third parties to provide you, with information about products or services we feel may interest you.
We may disclose and share your Personal Information with selected third parties including:
affiliates, business partners, joint marketers, suppliers and sub-contractors for the performance of any contract we enter into with them or you;
advertisers and advertising networks solely to select and serve relevant advertisements to you and others;
to third party service providers that connect to your bank account(s) with bank account login credentials provided by you in order for us to perform Services and confirm availability of funds; and
Analytics and search engine providers that assist us in the improvement and optimization of our site.
Your Personal Information may also be disclosed:
consistent with choices that may be available to you, to permit selected third parties to provide you with information about goods or services;
By you, on message boards, chat, profile pages and blogs and other services to which you are able to post information and materials. Please note that any information you post or disclose through these services will become public and may be available to other users and the general public;
if you open or access your KoboTrade Account directly on a third-party website or via a third-party application, with the provider of the third party website or application;
to explore and/or undertake a corporate transaction, including any reorganization, merger, sale, joint venture, assignment, transfer or other disposition of all or any portion of our business, assets or stock (including in connection with any bankruptcy or similar proceedings);
if we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply our User agreement and other applicable agreements; or to protect the rights, property, or safety of KoboTrade, our customers, or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction;
to assist us in conducting or co-operating in investigations of fraud or other illegal activity, or to respond to requests from public and government authorities (including those outside your country of residence), upon demonstration of lawful authority;
To prevent and detect fraud or crime.
In response to a subpoena, warrant, court order, or as otherwise required by law.
to assess financial and insurance risks, and to protect our operations and those of any of our affiliates;
to allow us to pursue available remedies or limit the damages that we may sustain; to recover debt or in relation to your insolvency; and
To develop customer relationships, services and systems.
Updating Your Personal Information
It is important that the information contained in our records is both accurate and current. You can access, modify, delete, or update your Personal Information submitted to our website by [logging in to account your account, emailing customer support and customer profile.
Access to Your Personal Information
You have the following rights regarding your Personal Information in our possession or under our control:
Upon request, be informed of the existence, use and disclosure of your Personal Information and be given access to that information.
Challenge the accuracy and completeness of your Personal Information and have it amended as appropriate. Depending on the nature of the information, amendment may involve the correction, deletion or addition of information.
Withdraw your consent to the collection, use or disclosure of your Personal Information.
You may contact us at email@example.com to make a request. The Privacy Officer will respond to a request as soon as reasonably practicable. We may need to verify your identity before addressing your request. An access request may be subject to a fee. If the request is unfounded, unlawful or excessive, we may refuse the request.
Please note that we may need to retain certain information for recordkeeping purposes, to comply with our obligations under applicable laws and regulations, including but not limited to our anti-money laundering obligations, and/or to complete any transactions that you began prior to requesting a change or deletion.
Storage and Security of Data
Your Personal Information is protected by security safeguards appropriate to the level of sensitivity of the information through data encryption, secure servers and organizational measures such as due diligence in transferring Personal Information to third-party processors.Kobotrade may transfer your Personal Information to a third-party service provider for processing and storage.All customer information are stored in a secured world class cloud data base vault of our Data storage and security partners in Los Angeles California USA.As we engage a third-party service provider, we ensure that the information is properly safeguarded at all times at a comparable level of protection.
Your Personal Information may be stored and processed in any country where we have facilities or in which we engage service providers, and by using the services you consent to the transfer of information to countries outside of Canada, including the United States, which may have different data protection rules. In the event that your Personal Information is transferred outside of Canada, the government, courts or law enforcement or regulatory agencies of that jurisdiction may be able to obtain disclosure of your Personal Information through the laws of that jurisdiction if need be.
www.kobotrade.com and we shall also send communications by email to you when any updates are done.