Terms & Conditions
Introduction
GENERAL INFORMATION
Information about us: We, Best Exchange, facilitate International
Money Transfers and Foreign Currency Exchange are registered with HM Customs & Excise
as a Money Service Business.
Our Capacity: We act as principal and not as agent on your behalf.
SCOPE AND APPLICATION
Scope of this Agreement: This Agreement sets out the basis on which we will enter
into International Money Transfers and Foreign Currency Exchange with you, and governs
each transaction.
Commencement: This Agreement supersedes any previous agreement
between us on the same subject matter and takes effect when you signify your acceptance
of this Agreement.
NO ADVICE
Execution only: We deal on an execution only basis and do not advise
on the merits of particular Transactions.
Own judgment and suitability: In asking us to enter into any transaction,
you represent that you have been solely responsible for making your own independent
appraisal and investigations into the risks of the Transaction. You represent that
you have sufficient knowledge, professional advice and experience to make your own
evaluation of the merits and risks of any Transaction. We give you no warranty as
to the suitability of the products traded under this Agreement and assume no fiduciary
duty in our relations with you.
Incidental information: Where we do provide market commentary or
other information this is incidental to your dealing relationship with us. It is
provided solely to enable you to make your own decisions and does not amount to
advice. The accuracy or completeness of such we give no representation, warranty
or guarantee as to the information or as to the tax consequences of any transaction.
CHARGES AND REMITTANCES (TO SRI LANKA)
Charges: You will pay our charges as agreed with you.
Transfer Charges to Sri Lanka:
£ 0 - £ 500 = £ 5.00
£ 501 - £ 5000 = £10.00
£ 5001 Above = £15.00
(Applicable to
both bank transfers and Cash Payout)
Transfer Charges to All other destinations:
£ 10 for any amount
(Bank Account Transfer Only)
Payments: All payments to us under
this Agreement shall be made to the bank account designated by us for such purpose.
We shall not be obliged to process any money transfers until we have received cleared
funds from you.
Bank Account Details:
BARCLAYS BANK PLC
HANOVER SQUARE BRANCH
SORT
CODE 20 - 36 - 47
A/C 03345815
A/C NAME CEC LTD
Third party payments and receipts:
We will not normally make payments to or receive payments from third parties on
your behalf. In the event that you request us to make a payment to or receive a
payment from a third party on your behalf, we may do so at our own discretion. We
will only do so if you have provided us with sufficient documentary evidence of
the purpose of the payment to or receipt from a third party.
Default interest: If
for whatever reason you fail to pay us any amount when it is due, we will charge
you interest on any such unpaid amount calculated at the Bank Base rate (of each
relevant currency) plus 6% per annum. Interest will accrue on a daily basis and
will be due and payable by you as a separate debt. In the event that any payment
made by or on behalf of you is dishonoured, returned, not met on first presentation
or stopped for whatever reason, we shall be entitled to an administrative charge
of up to £200.00 in respect of each such event. This administrative charge will
become payable by you in addition to any other sums due under these terms.
Currency
indemnity: If we receive or recover any amount in respect of an obligation of yours
in a Currency other than that in which such amount was payable, whether pursuant
to a judgment of any court or otherwise, you shall indemnify us and hold us harmless
from and against any cost (including costs of conversion) and loss suffered by us
as a result of receiving such amount in a Currency other than the Currency in which
it was due.
PERSONAL DATA
Disclosure to others: We will treat all information we hold on you as private and
confidential even when you are no longer a customer. We will not disclose any information
we hold about you to others except:
- (i) to the extent we are required to do so by any applicable law;
- (ii) where
there is a duty to the public to disclose;
- (iii) Where our interests require disclosure;
or
- (iv) at your request or with your consent
Our use of information: You agree that we and other companies in our group may hold
and process by computer or otherwise any information we hold about you and may use
any of that information to administer and operate your account and to provide any
service to you, to monitor and analyse the conduct of your account, to make any
credit decision (as well as the interest rate, fees and other charges to be applied
to your account) and to enable us to carry out statistical and other analysis. You
agree that we may disclose that information to other companies in our group for
these purposes.
Disclosure of information: We may also disclose information we hold
about you to those who provide services to us or act as our agents, to any person
to whom we transfer or propose to transfer any of our rights or duties under this
Agreement and to licensed credit reference agencies or other organizations that
help us and others make credit decisions and reduce the incidence of fraud or in
the course of carrying out identity, fraud prevention or credit control checks.
In respect of a joint account, we may disclose to any of you information obtained
by us from any of you in relation to the account.
Marketing: Subject to information
provided by you in the account opening questionnaire we may analyse and use the
information we hold about you to enable us to give you information (by post, telephone,
email or other medium, using the contact details you have given us) about products
and services offered by us, which we believe may be of interest to you. If you do
not wish to receive marketing information, please let us know by contacting us in
writing.
Access to information:
You may have a right of access to some or all of
the information we hold about you, or to have inaccurate information corrected,
under the Data Protection Law. If you wish to exercise either of these rights, please
contact us in writing.
ORDER PLACEMENT
INSTRUCTIONS AND BASIS OF DEALING
Placing of instructions:
You may give us instructions
over the phone or in writing (including fax), unless we tell you that instructions
can only be given in a particular way.
Authority: We shall be entitled to act for
you upon instructions given or purporting to be given by you or any person authorised
on your behalf without further enquiry as to the genuineness, authority or identity
of the person giving or purporting to give such instructions.
Cancellation of instructions:
We can only cancel your instructions if we have not acted upon those instructions.
Right not to accept orders: : We may, but shall not be obliged to, accept instructions
to enter into Transactions. If we decline to enter into a proposed Transaction,
we shall not be obliged to give a reason.
Confirmations: Confirmations shall, in
the absence of manifest error, be conclusive and binding on you, unless we receive
from period.
Performance and settlement: You will promptly deliver any money deliverable
by you under a Transaction in accordance with that Transaction.
Amendments: Once
given, instructions may only be withdrawn or amended with our consent.
Net exposure
limits: We will require you to limit the net exposure which you may have with us
at any time, as advised to you from time to time. We may in our sole discretion
close out any one or more Transactions in order to ensure that such net exposure
limits are maintained.
COLLATERAL ARRANGEMENTS
Form of collateral: Collateral shall be provided by you in cash or other form acceptable
to us as determined by us in our absolute discretion.
COLLATERAL ARRANGEMENTS
Representations and warranties: You represent and warrant to us on the date this
Agreement comes into effect and as of the date of each Transaction that:-
- (a) you enter into this Agreement in pursuance of your requirement to take delivery
of the Currency purchased by you from us under each Transaction;
- (b) you have all
necessary authority, powers, consents, licenses and authorizations and have taken
all necessary action to enable you lawfully to enter into and perform this Agreement
and such Transaction and to grant the security interests and powers referred to
in this Agreement;
-
(c) the persons entering into this Agreement and each Transaction
on your behalf have been duly authorised to do so;
- (d) this Agreement, each Transaction
and the obligations created under them both are binding upon you and enforceable
against you in accordance with their terms (subject to applicable principles of
equity) and do not and will not violate the terms of any regulation, order, charge
or agreement by which you are bound;
- (e) any information which you provide or have
provided to us in respect of your financial position, domicile or other matters
is accurate and not misleading in any material respect;
- (f) except as otherwise
agreed by us, you are the sole beneficial owner of all monies you transfer under
this Agreement, free and clear of any security interest whatsoever.
Covenants: You covenant to us that:
- (a) you will at all times obtain and comply,
and do all that is necessary to maintain in full force and effect, all authority,
powers, consents, licenses and authorizations referred to in this clause;
- (b) upon
demand, you will provide us with such information as we may reasonably require to
evidence the matters referred to in this clause.
DEFAULT AND TERMINATION
Default: At any time after we have determined, in our absolute discretion, that you
have not performed (or we reasonably believe that you will not be able or willing
in the future to perform) any of your obligations to us, we shall be entitled without
prior notice to you:
- (a) to sell such of your currency as is in our possession or in the possession
of any nominee or third party appointed under or pursuant to this Agreement, in
each case as we may in our absolute discretion select or and upon such terms as
we may in our absolute discretion think fit (without being responsible for any loss
or diminution in price) in order to realize funds sufficient to cover any amount
due by you hereunder, and/or
- (b) to close out, replace or reverse any transaction, buy, sell, borrow or lend
or enter into any other transaction or take, or refrain from taking, such other
action at such time or times and in such manner as, at our sole discretion, we consider
necessary or appropriate to cover, reduce or eliminate our loss or liability under
or in respect of any of your contracts, positions or commitments; and/or
- (c) to treat any or all Transactions then outstanding as having been repudiated
by you, in which event our obligations under such Transaction or Transactions shall
thereupon be cancelled and terminated.
Termination: Either party may terminate this Agreement (and the relationship between
us) by giving ten days written notice of termination on the other. We may terminate
this Agreement immediately if you fail to observe or perform any provision of this
Agreement or in the event of your insolvency. Upon terminating this Agreement, all
amounts payable by you to us will become immediately due and payable including (but
without limitation):
- (a) all outstanding fees, charges and commissions; and
- (b) any dealing expenses incurred by terminating this Agreement; and
- (c) any losses and expenses realized in closing out any transactions or settling
or concluding outstanding obligations incurred by us on your behalf.
Existing rights: Termination shall not affect then outstanding rights and obligations
and Transactions which shall continue to be governed by this Agreement and the particular
clauses agreed between us in relation to such Transactions until all obligations
have been fully performed.
INDEMNITIES AND LIMITATION OF LIABILITY
EXCLUSIONS, LIMITATIONS AND INDEMNITY
General exclusion: Neither we nor our directors,
officers, or employees shall be liable for any direct or indirect losses, damages,
costs or expenses incurred or suffered by you under this Agreement (including any
Transaction or where we have declined to enter into a proposed Transaction) unless
arising directly from our or their respective gross negligence, wilful default or
fraud. Nothing in this Agreement will limit our liability for death or personal
injury resulting from our negligence.
Changes in the market: Without limitation,
we do not accept any liability by reason of any delay or change in market conditions
before any particular Transaction is effected.
Force majeure: We shall not be liable
to you for any partial or non-performance of our obligations hereunder by reason
of any cause beyond our reasonable control, including without limitation any breakdown,
malfunction or failure of transmission, communication or computer facilities, industrial
action, acts and regulations of any governmental or supra national bodies, to perform
its obligations.
Indemnity: You shall pay to us such sums as we may from time to
time require in or towards satisfaction of any debit balance on any of your accounts
with us and, on a full indemnity basis, any losses, liabilities, costs or expenses
(including legal fees), taxes, imposts and levies which we may incur or be subjected
to with respect to any of your accounts or any Transaction or as a result of any
misrepresentation by you or any violation by you of your obligations under this
Agreement (including any Transaction) or by the enforcement of our rights.
MISCELLANEOUS
Amendments: We may amend this Agreement by not less than ten business days written
notice to you, except where it is impracticable in the circumstances. Such amendment
will become effective on the date specified in the notice. Any other amendment must
be agreed in writing between us unless otherwise agreed; an amendment will not affect
any outstanding order or Transaction or any legal rights or obligations which may
already have arisen.
Notices: Unless otherwise agreed, all notices, instructions
and other communications to be given by one of us to the other under this Agreement
shall be given to the address or fax number and to the individual or department
specified in the account opening form in respect of you and and/or by notice in
writing by either party.
- (a) Any notice, instruction or other communication shall be deemed to take
effect in the case of fax, on dispatch and, in the case of airmail or first class
pre-paid post, five Business Days after dispatch. Notices, instructions and other
communications made pursuant to this Agreement or any Transaction shall be effective
if given by electronic mail.
- (b) Each notice, instruction or other communication to you (except confirmations
of trade, statements of account, and margin calls) shall be conclusive unless written
notice of objection is received by us within five Business Days of the date on which
such document was deemed to have been received. You will notify us in writing of
any change of your address in accordance with this clause.
Assignment: This Agreement shall be for the benefit of and binding upon us both
and our respective successors and assigns. You shall not assign, charge or otherwise
transfer or purport to assign, charge or otherwise transfer your rights or obligations
under this Agreement or any interest in this Agreement, without our prior written
consent, and any purported assignment, charge or transfer in violation of this clause
shall be void.
Time of essence : Time shall be of the essence in respect of all
obligations of yours under this Agreement (including any Transaction).
Joint and
several liabilities: If you are a business, or otherwise comprise more than one
person, your liability under this Agreement shall be joint and several. The rights
and remedies provided under this Agreement are cumulative and not exclusive of those
provided by law.
Rights and remedies: The rights and remedies provided under this
Agreement are cumulative and not exclusive of those provided by law. We shall be
under no obligation to exercise any right or remedy either at all or in a manner
or at a time beneficial to you. No failure by us to exercise or delay by us in exercising
any of our rights under this Agreement (including any Transaction)or otherwise shall
operate as a waiver of those or any other rights or remedies. No single or partial
exercise of a right or remedy shall prevent further exercise of that right or remedy
or the exercise of another right or remedy.
Set-off: Without prejudice to any other
rights to which we may be entitled we may at any time and without notice to you
set off any amount (whether actual or contingent, present or future) at any time
owing between you and us.
Partial invalidity: If, at any time, any provision of
this Agreement is or becomes illegal, invalid or unenforceable in any respect under
the law of any jurisdiction, neither the legality, validity or enforceability of
the remaining provisions of this Agreement nor the legality, validity or enforceability
of such provision under the law of any other jurisdiction shall in any way be affected
or impaired.
Our records : Our records, unless shown to be wrong, will be evidence
of your dealings with us in connection with our services. You will not rely on us
to comply with your record keeping obligations, although records may be made available
to you on request at our absolute discretion.
Your records: You agree to keep adequate
records to demonstrate the nature of orders submitted and the time at which such
orders are submitted.
Third Party Rights: A person who is not a party to this Agreement
has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any
of this Agreement.
Co-operation for proceedings: If any action or proceeding is
brought by or against us in relation to this Agreement or arising out of any act
or omission by us required or permitted under this Agreement, you agree to co-operate
with us to the fullest extent possible in the defence or prosecution of such action
or proceeding.
GOVERNING LAW AND JURISDICTION
governing law: This Agreement shall be governed by and construed in accordance with
English law.
Jurisdiction: Each of the parties irrevocably
- (a)for our benefit that the courts of England shall have jurisdiction to settle
any suit, action or other proceedings relating to this Agreement ("Proceedings")
and irrevocably submits to the jurisdiction of such courts (provided that this shall
not prevent us from bringing an action in the courts of any other jurisdiction);
and
- (b)waives any objection which it may have at any time to the laying of venue of
any Proceedings brought in any such court and agrees not to claim that such Proceedings
have been brought in an inconvenient forum or that such court does not have jurisdiction
over it
- (c) Waives any objection which it may have at any time to the laying of venue
of any Proceedings brought in any such court and agrees not to claim that such Proceedings
have been brought in an inconvenient forum or that such court does not have jurisdiction
over it.
HOLIDAY MONEY - TERMS AND CONDITIONS
Best Exchange Corporation offers a currency delivery service for customer who
are unable to come to our branch, at a charge of £5 for every £2500 worth of order
placed of holiday money for delivery and insurance.
All you have to do is follow
the instructions below.
Call 0207 355 3800 and place an order according to your
requirements Mon - Fri b/w 10 am - 5pm. We will confirm the cost of the order.
If
you agree to process this order please ensure that you make BACS, CHAPS or FASTER
PAYMNETS payment into our account.
We will post the currency by Royal Mail Special
delivery guaranteed for next day.
|
Payment Received |
Order delivered |
|
Before 2pm noon - Monday to Thursday |
Next working day before 1pm* |
|
After 2pm noon - Monday to Wednesday |
Second working day before 1pm* |
|
After 2pm noon Thursday and before 2pm noon Friday
|
Monday before 1pm
|
|
After 2pm noon - Friday and anytime Saturday or Sunday |
Monday before 1pm
|
We only accept electronic payments 'BACS, CHAPS or
Faster Payments' Internet bank
transfers from your account to our account (N.B. our account details are below).
Please ensure that you do not deposit any cash into our account.
When you make a payment If your bank is offering
Faster Payments service, we will
receive your payment within 2 hours. If payment for your order is received by 12
Noon, we will then despatch your order the same day for next working day delivery
whilst you can expect delivery within 2 working days.
Click here to see if your bank is offering Faster Payments Service
If your bank is not offering
Faster Payments service,
we will receive your payment
within 3 working days, and we will despatch your order on the same day your funds
clear our account, you can expect delivery within 3 - 4 working days.
Please ensure you state your order number as a reference on the payment advice.
If you DO NOT state your order number,
you will not receive your money on time.
Terms and Conditions
When placing an order you warrant that you are acting on your own behalf, for a
genuine reason and the currency/travellers cheques that you wish to buy/sell is
legally and beneficially yours, has not been obtained by illegal means nor in any
way contrary to the rights of the legal owner and is not tainted in anyway by criminal
activity. You also warrant to us that the information that you provide to us is
true and accurate in all respects that you will not withhold any material information
from us and you will provide us with any information that we may reasonably require.
You must provide all the requested information for us to process the order. We reserve
the right to request further information from you should it be required at any time.
We will acknowledge receipt of your order, but this acknowledgement shall not constitute
our acceptance of your order. Currency availability may be subject to monetary limits,
currency exchange restrictions and to customers complying with Anti-Money Laundering
regulations. * (We are unable to supply foreign coins).
Delivery
Where delivery is made at customer's request, Best Exchange Corporation can
accept no direct responsibility or liability for safe delivery beyond ensuring the
secure handover of payment to the chosen delivery address. Customers must refuse
to accept any damage packages delivered by Royal Mail. Best Exchange Corporation
will not accept any responsibility for damaged packages.
Royal mail undertake to deliver packages by 1.00pm the next working day. Track and
trace on packages can be made from 1.30PM Please note that in some circumstances
the delivery will be after 1.00PM and in the case of outer districts for example
Scotland and Northern Ireland this may take two working days.
* Please Note that this service may be affected as result of influences on the ability
of our delivery company Royal Mail to complete its service.
If you are not at home (or the delivery address) you will be requested to collect
the package at your local sorting office.
No delivery can be guaranteed on Saturdays or Sundays. Orders placed on Friday after
12:30pm or during the weekend will be delivered on Tuesday.
It is essential that you have a person you trust available at the delivery address
to receive and sign for your delivery, as Best Exchange Corporation will not
accept any liability for fraudulent acts committed by such third party signatories.
Please note the delivery charge includes insurance against loss / theft in transit.
Limitation on Best Exchange Corporation Liability
Best Exchange shall make every effort to process orders placed via
this Service without any delay. However, you agree that delays can sometimes occur
due to technical problems or matters out of Best Exchange control.
Best Exchange uses reasonable care and skill in providing this Service.
However, Best Exchange does not warrant that access to this Service
shall be continuous, uninterrupted, secure, error free or free from viruses. Best Exchange shall not be liable to you for the following:
- If Best Exchange is unable to perform any of its obligations to
you due to the failure of any technical systems or for any other reason beyond Best Exchange reasonable control including amongst other things, war, terrorism,
government action, natural disaster and industrial dispute.
- Best Exchange excludes all liability for any claim arising from
any act undertaken for a Customer unless the Customer can prove that Best Exchange
caused the Customer to suffer loss.
- When determining if Best Exchange has caused a Customer to suffer
loss, the Customer accepts the actions of intermediaries not employed by Best Exchange are the actions of third parties. Best Exchange
will not be responsible for any loss caused by a third party. This does not affect
the customers' statutory rights.
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Welcome to CEC
