Terms and Conditions

Last updated: January 2025

This Customer Agreement (this "Customer Agreement") sets forth the terms and conditions for the use of the RemitLand services (the "Services"), which include the use of mobile applications, websites, software and other products we offer, provided by RemitLand Fintech Inc. ("RemitLand", "we", "us", and "our").

By opening, registering, or using a RemitLand Account, or by otherwise using the Services, customers ("you", "your" or "Customer") agree to be bound by this Customer Agreement and consent to receive communications related to the Services or your RemitLand Account in electronic format. If you do not accept this Customer Agreement, you will not be able to use the Services.

Regulatory Status

RemitLand Fintech Inc. is registered in Canada with the Financial Transactions and Reports Analysis Centre of Canada ("FINTRAC") as a money services business, registration number C100000615, and is registered with the Bank of Canada as a payment services provider under the Retail Payment Activities Act ("RPAA"), PSP registration number RPS0011612. RemitLand is able to provide foreign exchange dealings and money transfer services to customers resident in Canada.

Eligibility and Your Account

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. In order to use some or all of the Services, you must first open a RemitLand Account by providing certain information. For compliance and legal reasons, all information you provide during the signup process or any time thereafter must be complete, accurate and truthful. You are responsible for keeping your contact information up to date in your RemitLand Account profile.

Your passwords are stored on RemitLand servers in encrypted form. We do not disclose your personal information except when required to do so by applicable laws and as specified in our Privacy Policy. You may appoint an Authorized User to act on your behalf to conduct certain transactions. RemitLand reserves the right to refuse the creation of duplicate accounts for the same user due to security and client identification requirements.

Identity Verification

If you open a RemitLand Account and use certain Services, applicable laws require that we verify some of your information. You authorize RemitLand to make any inquiries we consider necessary to validate your identity, either directly or through third parties, including checking commercial databases or credit reports.

Account Types

RemitLand offers two accounts: (a) Business Accounts; and (b) Personal Accounts. Business Accounts can be opened after know-your-business verification and have access to a broader set of Services, including invoice-based settlement, corporate tools, and higher currency conversion or transaction limits. Personal Accounts are limited-feature accounts which cannot be used for business purposes and are subject to lower currency conversion or transaction limits.

Money, Balances and Transfers

You may upload money in supported currencies into your RemitLand Account in order to (i) convert the currency, (ii) send it to another person or to your own account, or (iii) hold a balance for use later. Money you hold with RemitLand is not insured by any deposit protection scheme (including CDIC) and represents an unsecured claim against RemitLand. Your RemitLand Account is subject to withdrawal and send money limits. We reserve the right to delay, freeze or hold any transactions for any reason, including AML reviews, sanctions screenings, fraud investigations, and banking partner compliance checks.

Currency Conversion

Our Services include the ability to convert currencies. A conversion fee will apply when we perform a currency conversion. We reserve the right to refuse any currency conversion order. We will let you know the exchange rate when you place a guaranteed-rate conversion order, or when we have received your payment for a non-guaranteed-rate conversion order. RemitLand is not a currency trading or investment platform; you should not use our Services for currency trading, investment, or speculation.

Fees

Fees for withdrawing and sending money, and currency conversion, will be disclosed when you place an order and prior to confirming the transaction. The fee structure on the RemitLand website forms part of this Customer Agreement and is subject to change.

Closing Your Account

You may end this Customer Agreement and close your RemitLand Account at any time by contacting Support. If you still have money in your RemitLand Account at the time of closure, you must withdraw your money within a reasonable period of time. RemitLand may suspend or terminate this Customer Agreement and access to the Services for any reason and at any time upon notice to you.

Reversals and Chargebacks

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by RemitLand caused by or arising out of your breach of this Customer Agreement and/or your use of the Services. If your RemitLand Account balance becomes negative for any reason, that negative balance represents an amount you owe to RemitLand and you promise to repay it immediately without notice.

Liability and Warranties

To the extent permitted by applicable law, RemitLand is not liable for lost profits or special, incidental, indirect, consequential or punitive damages arising out of or in connection with the Website, Services, or this Customer Agreement. Except as expressly provided, Services are provided "as is" and without warranties or conditions, express, implied or statutory, subject to applicable law and provincial/territorial restrictions (including Quebec).

Governing Law

The provision of the Services and disputes are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein, and are subject to the non-exclusive jurisdiction of the courts of the Province of Ontario. Certain disputes may be referred to and finally determined by a single arbitrator in Toronto, Ontario, in English, under the ADRIC Arbitration Rules and subject to the Arbitration Act (Ontario).

Changes to These Terms

We may change the terms (including fees) by giving 30 days' prior written notice, and you may refuse changes during the notice period by providing written notice of termination. Some changes may be made immediately where required by law or relating to new services or extra functionality.

For questions or complaints regarding the Services, please contact RemitLand Support at admin@remitland.com.