Terms and conditions

COMPANY INFO:

• Globalnest Capital Solutions. (trading as “Globalnest”) – Corporation No. 1000771090.
• Registered office: 234 Edgevalley Rd., London, Ontario, Canada, N5V 0E3.

TERMS AND CONDITIONS [Globalnest]

You should read these Terms and Conditions carefully and ensure you understand them. Please obtain independent advice or contact us if you have any questions.

1. About This Agreement
   • About

This Agreement (the “Agreement”) is a legal agreement between you and us and governs your access to and use of our Services. By accessing and using our Services, you agree to be bound by this Agreement. We use some words which start with capital letters in this Agreement. These are called Defined Terms and you can see what each of these words means in the Glossary at the end of this Agreement.

• How This Agreement Works
  • Each use of our Services will be treated as a separate Transaction. The specific details of each Transaction, including the currencies, the amounts and the Recipient Account, will be agreed separately each time you request a Transaction in the confirmation by email you receive. This is called a Deal Confirmation. Whilst each Transaction will be a separate Agreement in its own right, it will still incorporate the terms and conditions contained in this Agreement.
  • In this Agreement, we refer to other documents. Some of the documents we have listed below contain legal obligations for you and for us, so you should read them carefully to make sure you understand them. Please click on the hyperlinks below to read our:
    • Privacy Policy
    • Website Terms of Use
    • Cookie Policy
  • We may amend any of these documents from time to time. Such amendments will become effective as indicated in the updated document, when we post the revised policy or document on our Website or as per our communication of the changes to you. We will endeavour to provide notice as is required. If you continue to use our Services after the documents have been amended, you will be deemed as having accepted those changes. If you do not agree with any of the amendments, you may terminate your account with us. See Clause 17 (Changes to this Agreement) for full details.
  • In the event of any conflict or inconsistency between any of the documents we refer to, the following order shall prevail:
    • Deal Confirmation
    • Country-specific terms and conditions
    • Supplemental terms specific to the Services you use
    • This Agreement
    • Privacy Policy/Website Terms of Use/Cookie Policy
  • Copies
    • You can obtain a copy of this Agreement, or any other document referred to in this Agreement, at any time, from our Website at Globalnestcapital.ca, by calling the telephone numbers in the Contact Us section below, or by emailing us at info@globalnestcapital.ca.

1. Who This Agreement Affects
   • This Agreement applies to all Customers who use our Services through our Website, telephone, mobile applications, software, APIs or any other access channels.
   • In this Agreement,“we”, “us” or “our” means the relevant Globalnest company. “Customers” and “you” includes individual Customers.
   • Please read this Agreement carefully before you begin to use our Services. If you proceed to use our Services, you acknowledge that you understand this Agreement and have had the opportunity to obtain your own independent legal advice in relation to this Agreement.

1. E-Signatures
   • By selecting the “I agree” box or typing your name on any form we may ask you to sign, you agree that your electronic signature is your consent to be bound by this Agreement and any Transaction terms and conditions. Youfurther agree that we may accept your electronic signature as the legal equivalent of your manual/handwritten signature and that no third-party verification is necessary to validate your signature in any way.

1. About Our Services
   • What we Provide: We are an online money transfer company. We provide “FX Services”, that is buying and selling currency from you, for personal purposes. There are two main types: Spot Contracts and Forward Contracts. We also offer “Payment Services”, which can either be a same-currency Transaction or a cross-currency Transaction.
   • Not for Investment Purposes: We do not offer any form of investment or speculative trading facilities.
   • Exchange Rates: When you give us an Instruction, we will provide you with a quote for an indicative exchange rate that may apply to your Transaction. The exchange rate we quote is not the same as the market exchange rate and is not guaranteed until the Transaction is confirmed as rates can and do change frequently. The exchange rate that applies to your Transaction will be listed on the Deal Confirmation email you receive.
     • We do not enter into any kind of set-off arrangements that would allow you to receive or pay only the amount of any gain or loss you may have made as the result of exchange rate movements when a Transaction completes.
   • No Financial Advice: We do not provide you with personal financial advice. We do not take into account your specific financial circumstances or needs when we enter into a Transaction with you. Any advice we do provide will relate only to information that is already publicly available and/or to the mechanics of your Transaction. You must obtain your own financial advice and make your own assessment as to whether our Services are appropriate for your requirements and financial circumstances. Selection of the type and timing of each Transaction you enter into is for you to decide.
   • Fees: we do not charge any fees on a Transaction if the Transaction involves a currency conversion. Please be advised that your own bank or your Recipient’s bank may independently charge fees on the Transaction. You should consult directly with the bank for information regarding any fees they may charge. In our sole discretion, from time to time we may permit same currency-pair transfers that do not involve a conversion of currency. The fee for a same-pair currency transfer will be quoted to you at the time of booking and will be expressed either as a flat fee or a percentage of the transfer amount. Any fees charged by us in relation to a particular Transaction will always be shown on the Deal Confirmation email as well as the receipt we provide to you.
     • In certain circumstances, certain intermediary fees might be levied upon a Transaction.  Where possible, we will estimate the amount of such fees in the Deal Confirmation, but the Recipient Account may receive less than originally estimated.  You acknowledge and agree that third party intermediary fees may apply to your Transaction. We have no control over those, receive no part of them and they are you or your Recipient’s responsibility to pay (depending upon what may have been agreed between you).

1. Using our Services
   • Types of Accounts
     • Personal Accounts: Personal accounts are intended only to be used for Transactions related to personal, family or household purposes. Personal accounts may not be used for business, commercial or merchant transactions. Some features of our Services may not be available to personal account holders.
   • Identity Verification
     • To provide you with our Services, we must collect certain information about you and any Authorised User you may appoint to provide an Instruction on your behalf. This is so that we can verify your identity and also meet any regulatory or legal obligations we may have. The information may include, but is not limited to, details such as name, contact details, date of birth, proof of identity and/or financial affairs. If you are a business, it may also include information about the way you are set up, your directors or management body, the laws you may be subject to, and the ownership of your company or business. Without this information, or if we are not satisfied with it, we may not be able to provide you with our Services.
     • We may also carry out electronic database searches and credit reference agency searches to verify your identity and, if necessary, the identity and credit standing of the owners, principals, employees or directors of your business or any Authorised User of your business account. This may create a credit “footprint” on the relevant individual’s file with any such credit reference agency. When opening an account, you agree that we are permitted to leave a footprint on credit files as part of the performance of our Services. For more information see clause 16.3 (Consent to Credit Reference Reports).
   • Owner of the Money You are Transferring
     • For each Transaction, unless we agree otherwise, you, must be the beneficial owner of the money you intend to transfer or you are acting in your capacity as a trustee of trust money. We may request documentary evidence showing ownership of the funds. You may not enter into Transactions on behalf of third parties, unless you are expressly authorised to do so in accordance with this Agreement and can prove that to us if we ask you to.
     • We recognise that there may be situations where a third party is legitimately involved, while you are still the beneficial owner of the funds, including but not limited to: salary payment; from solicitor e.g. property sale, estate, trust; sale of shares where payment is from the investment firm; joint accounts; family member (to first party); pension payments; refund of a deposit on rental / holiday accommodation; inheritance payment, etc. In such circumstances we may ask you to provide us with additional documentary evidence so that we can meet our legal requirements.
   • Appointing Someone to Act on Your Behalf (Authorised Users)
     • If you are transacting with us as a Personal Customer, you may choose to appoint one or more Authorised Users if you would like us to take an Instruction from someone else acting on your behalf.
     • You can do this by signing an Authorised Signatory Form. An Authorised User may have unlimited authority to give us an Instruction on your behalf, or you may specify the stages of a Transaction you authorise them to undertake. We may contact you to confirm the details on any Authorised Signatory Form we receive from you.
     • We will rely on an Instruction received from any individual(s) authorised by you in accordance with this Agreement until such time as you withdraw or change that authority by giving us 48 hours’ notice in writing. If you wish to change or remove an Authorised User, you may do so by completing a Change of Authorised Signatory Form or otherwise by notifying us in writing.
     • This Agreement also applies to Authorised Users, but you remain responsible for their actions. We accept no liability for carrying out a Transaction that has been instructed by your Authorised User if you did not want the Transaction to proceed.
     • You, or an Authorised User, can give us an Instruction, consent to a payment or confirm the payment to the Recipient Account via our Secure Website, verbally by telephone, or by email (where we agree in advance to email Instructions).
   • Keeping Your Account Safe
     • We will issue, or you can choose, a username for your account with us. We will also ask that you provide personalised security details (such as a password or fingerprint) and answers to security questions. Together these are known as your Secure Detailsand they allow us to verify your identity so that you can give us an Instruction. We may accept any Instruction received, using the Secure Details, without performing any further checks on the identity of the user.
     • You must take all reasonable steps to keep your Secure Details secret and safe, and you must take all reasonable steps to prevent loss, theft or fraudulent misuse of them. We recommend that you do not write them down in a format that is recognisable, save them electronically, choose simple passwords, or let someone else know them unless they are an Authorised User.
     • If you know or suspect that your Secure Details have been lost, stolen or misappropriated, or that there has been unauthorised use of our Services or any other security breach, you must notify us immediately by calling us on the numbers in Contact Uswithin the Country Section at the end of this Agreement or by emailing us at info@globalnestcapital.ca. In such circumstances we may suspend your account to protect you and refer the matter to our fraud department.
   • Keeping Our People Safe
     • We do not tolerate hostile, aggressive, threatening or abusive language or behaviour towards our people and reserve the right to terminate a telephone call, cancel a Transaction, decline to provide you with Services or close your account in any circumstances where any of our people may feel threatened, alarmed, distressed or afraid.
     • Where there are extenuating circumstances and you wish to appeal our decision, you are entitled to raise a complaint in line with our Complaints Policy in the Country Section at the end of this Agreement.
   • Communicating With You
     • When we need to contact you, we will do so by email, text, telephone or mobile application using the most recent details you gave us.
     • We may record telephone calls for training, quality assurance and compliance purposes. By entering into this Agreement you consent to the electronic recording of all telephone conversations that take place between you and us without an automatic warning tone or message being given. In the event of any dispute between you and us, the recording or transcript of our telephone conversation may be used as evidence of the nature and purpose of the call and any details that were agreed between you and us in relation to the provision of any of Services.
     • You must ensure that all information provided to us is accurate and up-to-date at all times. You must tell us of any changes by calling us, updating your details on our Secure Website or mobile app. or emailing us, as soon as you can. If you do not, this may impact the Services that we can offer you.
     • By entering into this Agreement, together with the consents you gave when registering with us, you consent to receive communications from us, including e-mails and phone calls directed to the e-mail address and/or telephone number you provide when you registered for an account with us. Such communications may include, but are not limited to, Transaction details or Deal Confirmations and receipts, requests for additional documents or information and notifications regarding updates to your account.
     • You may also receive marketing or promotional messages where permitted or if you have agreed to this when you created your account with us. You may opt out of receiving promotional e-mail communications at any time by changing your preferences on your account page on our Secure Website, clicking the unsubscribe link included on the email or by contacting Customer Service. To continue using our Services, there are certain communications directly related to your Transactions and your account which you cannot opt out from receiving.

1. Transactions
   • Instructions
     • To give us an Instruction, we require that you provide us with the value of the transaction, the currencies you want to exchange and the Recipient Account you want to pay, as applicable.
     • When we receive an Instruction from you, we shall provide you, as applicable, with the exchange rate, information on the maximum time it will take for the Recipient Account to receive the money, any charges payable by you and a breakdown of such charges.
   • When the Transaction is Legally Binding
     • Transactions become legally binding once the booking process has been completed online or when your email, giving an Instruction, has been processed or when the telephone call, in which you place an Instruction, has concluded. We will then send you an email headed “Deal Confirmation” which is our written record of the Instruction you have given us. If you do not contact us within 24 hours of receipt of the Deal Confirmation, the Transaction details will be deemed to be correct. Even if no Deal Confirmation is received, the Transaction is still legally binding, unless we have made a mistake, and this can be evidenced by the emails we have exchanged with you, the data available on our Secure Website or the transcript of the telephone conversation during which it was booked.
   • Third Party Liability
     • We enter into Transactions directly with you or with you via your Authorised User. We have no responsibility to any third party. The agreement is personal to you and you cannot transfer any rights or obligations under it to anyone else.
     • Please be advised that if you book a Transaction through a mobile device, your wireless carrier’s standard charges, data rates and fees may apply. If you access the Services using a mobile application developed for Apple iOS, Android or Microsoft Windows, you agree that Apple Inc., Google Inc. and Microsoft Corporation are not parties to this Agreement and are not responsible for the provision or support of the Services. Your access to the Services using a mobile application is subject to such applicable third-party provider’s terms of service.
   • Changing or Cancelling a Transaction
     • An Instruction from you cannot be cancelled, withdrawn or changed once you have given it unless we have made a mistake and you inform us as such, after receiving your Deal Confirmation. In exceptional circumstances, we may agree to cancel or change an Instruction after it has been received. If you think that such circumstances exist you should contact us immediately by telephone.
   • Quotes Made in Error
     • If we quote you a rate that is clearly a mistake on our part, as the result of a technical or human error, it is not binding on us and we reserve our right not to process the Instruction. You must notify us by telephone or email as soon as the mistake comes to your attention and we will send a revised quote as soon as possible.
   • You Agree to Act Quickly
     • By entering into this Agreement, you acknowledge that exchange rates can fluctuate rapidly, so being able to access the rate we quote you depends on you promptly performing your agreed actions. We reserve the right to cancel or suspend a Transaction if you do not provide us with any requested information or funds promptly.
   • Service Notification
     • Once we have carried out a Service for you, we will send you a notification including a reference, amount of the payment in currency used, any charges and the date the order was received.  This information is also available on our Secure Website. If you decide to turn off e-mail notifications, it is your responsibility to check these regularly and print or save a copy of this information for your records.

1. FX Services
   • Spot Contracts: If you wish to enter into a Spot Contract, you may do so by giving us an Instruction online, by telephone, or by email, if we agree this with you in advance.
   • Forward Contracts
     • In jurisdictions where Personal Customers are able to enter into Forward Contracts.
     • In giving us an Instruction for a Forward Contract, you must also specify the date you want the exchange to occur.
   • Advance Payment (deposit): We may ask you to pay a deposit in full or part payment of a Forward Contract, at any point from the time you give us an Instruction until the Maturity Date. We will tell you whether a deposit is payable before you confirm the Forward Contract.  We will state the amount of any deposit/s that must be paid and tell you the date by which they must be paid.
   • Failure to Pay the Advance Payment: If you do not pay the deposit by the date required, we may cancel the Forward Contract.
   • Change to the Maturity Date: You may ask us to bring forward (pre-deliver) or to extend (roll over) the Maturity Date in relation to the whole or only part of your Forward Contract. Agreeing to such a request is entirely at our discretion. If we agree, the rate may be adjusted to account for the timing of the new Maturity Date and no profit on the adjusted Transaction will be payable by us.
   • Payment of Full Amount on Settlement: You must transfer the full amount of funds due for the Forward Contract Transaction (which is the total amount due, less any Advance Payment you have already paid) together with any applicable fees payable, on or before the Maturity Date. If we have not received funds by the Mat