Terms and Conditions for Prime Exchange Co Pte Ltd® Online Money Transfer Services Labelled as ‘RemitPrime’

CAUTIONARY STATEMENT

IT IS IMPORTANT FOR YOU TO READ AND UNDERSTAND OUR TERMS AND CONDITIONS BEFORE YOU ACCEPT THEM. THEY CONTAIN LIMITATIONS ON THE SCOPE OF OUR OBLIGATIONS TO YOU, AS WELL AS LIMITATIONS AND EXEMPTIONS FROM OUR LIABILITY TO YOU FOR ANY DAMAGE AND LOSSES THAT MAY ARISE OUT OF, OR IN CONNECTION WITH THE USAGE  OF THE PRIME EXCHANGE CO PTE LTD - ONLINE MONEY TRANSFER SERVICE- RemitPrime. THE RESPECTIVE PROVISIONS ARE HIGHLIGHTED IN BOLD. IN USING THE PRIME EXCHANGE CO PTE LTD ONLINE MONEY TRANSFER SERVICE - RemitPrime YOU AGREE TO COMPLY WITH THESE TERMS AND CONDITIONS AS WELL AS ANY OTHER APPLICABLE LAWS.

Prime Exchange Co Pte Ltd is licensed by the Monetary Authority of Singapore to carry on remittance business and cross-border money transfer servicesiness. Please note that such licensing does NOT guarantee the performance of the remittance licensee and You (as defined below) take the risk of any damages and losses that may arise out of or in connection with the usage of the remittance business.

1. DEFINITIONS AND INTERPRETATION

In these Terms and Conditions, unless a different intention is expressed or the context otherwise requires, the following terms (as subsequently modified by applicable legislation) shall have the following definitions
  1. “Applicable Laws” means all laws, codes of practice, regulations, policies, guidelines, instructions or other instruments having the force of law in whatsoever form that any competent regulatory, governmental or judicial authorities may issue from time to time relating to the Services (as defined below) or otherwise;
  2. "Bank Card" refers to a Visa® or MasterCard® credit card, or a debit card;
  3. "Card Issuer" refers to the issuer and the owner of a Bank Card;
  4. “Intellectual Property” refers to trademarks, service marks, trade names, domain names, rights in designs, patents, database rights of unfair extraction and reutilization, copyrights (including rights in computer software), rights in know-how and other intellectual or industrial property rights (whether registered or unregistered and including applications for the registration of any of the foregoing) and all rights or forms of protection having equivalent or similar effect to any of the foregoing which may subsist anywhere in the world;
  5. "Payment Method” refers to the options available to the Sender to fund a money transfer through the Prime Exchange Co Pte Ltd Online Service - RemitPrime, which may vary from country to country and may include but is not limited to use of a Bank card, bank account, eNETs, Internet Banking and other such methods;
  6. “Prohibited Purpose" refers to any unlawful purpose, including but not limited to making or receiving payments for gambling services, gambling chips or gambling credits, or sending a payment to yourself as the Receiver (as defined below) in order to evidence financial soundness or sending or receiving money on behalf of someone else;
  7. "Receiver" refers to the person named as the beneficiary of the money transfer (regardless of whether this transfer was initiated by a Sender via  RemitPrime or by a person through another Prime Exchange Co Pte Ltd -Money Transfer service);
  8. "Sender" refers to the person who initiated a money transfer through RemitPrime;
  9. "Transaction" refers to every money transfer that You initiate through RemitPrime;
  10. “Prime Exchange Co Pte Ltd ", "We", "Our" or "Us" refers to Prime Exchange Co Pte Ltd. (“PEC”) and Our affiliates or agents. For the avoidance of doubt, all money transfer services in Singapore are provided by PEC;
  11. "Prime Exchange Co Pte Ltd." refers to money transfer services which We provide through the Prime Exchange Co Pte Ltd Website or the Prime Exchange Co Pte Ltd Mobile Application;
  12. "Prime Exchange Co Pte Ltd Website" or "Website" refers to the Website which We operate in order to provide money transfer services and to the Prime Exchange Co Pte Ltd Mobile Application; and
  13. "You”, “Yours” or “Your" refers to any person using the Prime Exchange Co Pte Ltd Website as a Sender.

2. ABOUT US

  • PEC Online Service- RemitPrime is offered by PEC, a private limited company incorporated in Singapore (Company registration number: 200600315K), with its registered office at 2A Desker Road (2nd Floor) Singapore 209549. PEC is a subsidiary company of PRIME BANK LTD, a leading private commercial Bank with registered offices at Adamjee Court Annex Building 2, 119-120, Motijheel C/A, Dhaka-1000, Bangladesh.
    You may obtain information about the addresses and hours of operation of the agents and local representatives of PEC by calling this telephone number: +65 63924996 and by email sent to ceo@primexchange.com.sg.  or main_mo@primexchange.com.sg
    PEC is licensed by the Monetary Authority of Singapore to carry on remittance business and cross-border money transfer services.

3. OUR SERVICES

The PEC Online Service – RemitPrime offers cross border money transfer services (“the Service”) nationally and internationally, specifically from Singapore to Bangladesh, India and the Philippines.
You, as the Sender, agree to set up and use a savings account with PEC to remit money to the Receiver, who will receive the monies via account credit, as cash or as payment to their electronic wallet.
You must be at least 18 years old and currently resident in Singapore to use the PEC Online Service.
Each money transfer is given an individual transaction number, the T.T Number or “T.T No".

4. YOUR OBLIGATIONS

You are to ensure that You provide complete, correct, honest and current information as required by PEC for the purposes of Your registration.

If You provide any personal data that is untrue, inaccurate, not current or incomplete, or if there are reasonable grounds to suspect that the information provided by You is untrue, inaccurate, not current or incomplete, PEC reserves the right to suspend, terminate, or refuse  Your current or future use of the PEC Online Service.

5. REGISTRATION REQUIREMENTS

You are required to register in order to use RemitPrime. You must provide the requested information, to the Bank/ Merchant to validate their identity and have authorization for the usage of the Bank Card(s) for Transactions on RemitPrime System.
PEC reserves the right to disallow You from registration and/or usage of the PEC Online Service in case the information provided by You is incorrect and/or false. You assure that all information entered in the Online system is true and that they are legally entitled to use the cards to execute the Transaction(s) on the Online System.
For all queries related to the Online System, call the registered numbers or contact the email address(es) provided above.
PEC may enhance the security features etc. of the Online solution from time to time. These Terms and Conditions may be modified for revised features in the future. By accepting of these Terms and Conditions, You agree to abide by   any future versions of the Terms and Conditions of the PEC Online System.

6. AUTHENTICATION

During registration of the RemitPrime service, Your usage will be authenticated via OTP (One Time Password) sent to your registered mobile number
You can only  successfully register for the RemitPrime service after You have successfully completed an entire online Transaction for the first time.
By registering for RemitPrime, You agrees to the use of RemitPrime to evidence Your identity, including the authorization of Transactions  in advance to recur at substantially regular intervals.

7. CONFIDENTIALITY AND SECURITY OF REGISTRATION INFORMATION

You are solely responsible for maintaining the confidentiality of Your registration information, such as Your Member Number,Password and all other security details.
You will be solely responsible for any and all activities that occur using the Customer’s registration information or other verification information supplied to or established You with respect to PEC. .
You shall be  solely responsible  to ensure that there is no sharing of any information which enables access/ usage of the PEC Online System by any third party.
You should immediately notify the bank of any unauthorized use of your Customer Access to the PEC Online System & Verification on information, or any other breach of security.
You agree that PEC will not be liable for any losses or damages arising out of or in connection with the   Your failure to comply with these terms and conditions.

8. CONFIDENTIALITY OF YOUR INFORMATION

Your registration information will not be shared with any online merchant establishments by which the PEC Online Services are used.
You agree to permit Us to store Your registration information in their databases and are permitted to disclose such information  if required to do so by Applicable Law, in good faith believing that such preservation or disclosure is permitted by Applicable Law, or as reasonably necessary to (i) comply with legal process or (ii) enforce these Terms and Conditions.

9. ACCESS TO AND USAGE OF THE PEC ONLINE SERVICES

The PEC Online Services are only made available to You if:
You are above the age of 18, have full capacity for civil conduct and have opened a saving accounts with PEC; and
Youagree to  use this PEC Online Service pursuant to the Terms & Conditions mentioned herein;
Potential customers intending to consult PEC about Our products and services.

10.CUSTOMER RESPONSIBILITIES

As a PEC Online Service user, You acknowledge and agree to the following:
You will -
  1. a.   Ensure confidentiality of Member ID and not reveal it to any third party;
  2. b.   Keep the OTP required during the registration process totally confidential and not reveal it to any third party;
  3. c.   Ensure the password entered during registration must not be related to any readily accessible personal data such as name, address, telephone number, driver license, etc.;
  4. d.   Ensure the Member ID, Password should not be written or stored physically or in soft form. The same should be memorized.
  5. e.  Take necessary precautions to ensure that the computer device or other device accessing RemitPrime during Transactions is guarded from all unauthorized access.

You are prohibited from:

  1. Accessing or allowing access to the PEC Online Service, RemitPrime with false/fake id or attempt or allow impersonation of any kind;
  2. Hampering the functioning of the PEC Online Service, RemitPrime   by causing  any manner of hardware, software or other malfunction by use of software viruses or any other programs or applications;
  3. Intentionally overloading the RemitPrime platform to hamper the PEC Online Service;
  4. Infringing  the Intellectual Property rights of the RemitPrime Online solution by attempting to re-create or re-engineer the solution or any part of it or the software used in connection with RemitPrime;
  5. Removing any copyright, trademark, or other proprietary rights or notices contained in RemitPrime;
  6. Re-creating or using any part of the RemitPrime Online service without PEC’s prior written authorization;
  7. Attempting to data mine, unlawfully obtain information specific to the RemitPrime Online System solution using any application, or other manual or automatic device or in any way re-engineer or duplicate the user experience similar to RemitPrime Online service;
  8. Interfering with the functioning of RemitPrime Online System or its associated hardware/ software by any means;
  9. to adhere to any applicable governing law, regulation, guidelines or any Terms and Conditions advised by PEC in connection with use of the PEC Online Service, RemitPrime; and
  10. Using or allowing the usage of the PEC Online Service, RemitPrime, for any Prohibited Purpose

11. RULES OF LIABILITY

PEC assumes  no liability for the performance  or usage of Your internet access device or password obtaining device (such as computer or mobile phones etc.) or proper functioning of its hardware or software before, during or after the use of RemitPrime.
PEC will in its best efforts make the web service as secure as possible. However, PEC will not take liability for any viruses or unlawful downloads that the Customer’s system may be exposed to while he accesses the internet for using RemitPrime.
PEC does not assume any liability for Transactions which fail or are incomplete due to any reason.

12. INTERNET FRAUDS

The Internet per se is susceptible to a number of frauds, misuses, hacking and other actions which could affect use of RemitPrime. Whilst PEC shall aim to provide security to prevent the same, there cannot be any guarantee from such Internet frauds, hacking and other actions which could affect the use of the RemitPrime. You shall separately evaluate all risks arising out of the same.

13. OPERATIONAL ISSUES

Every effort is made to keep the website up and running smoothly. However, Wetake no responsibility for, and will not be liable for, the website being temporarily unavailable due to operational issues beyond Ourcontrol.

14. INDEMNITY

PEC shall be indemnified by You against all losses and damages that may be caused as a consequence of breach of any of the PEC Online Service Terms and Conditions.

15. TERMINATION

PEC, subject to Applicable Laws, reserves the right to suspend at its absolute discretion for such period as We may consider appropriate or terminate the Services at any time.

16. ENTIRE AGREEMENT

These Terms and Conditions constitute the entire agreement between the parties hereto with respect to the matters dealt with therein and supersedes any previous agreement between the parties hereto in relation to such matters.

17. INCONSISTENCY

17.1   In the event of any conflict or inconsistency between the terms of any document (including application forms) and these Terms and Conditions, such conflict or inconsistency shall, in the absence of any express agreement to the contrary, be resolved in a manner most favourable to PEC, to the fullest extent permissible under Applicable Laws.

18. AMENDMENTS

To the fullest extent permissible under Applicable Laws, We may at any time, amend supplement or otherwise vary these Terms and Conditions, or make any changes to the Services. You will be given reasonable advance notice (which may include but is not limited to advertisement, statements, letters, postings on the Website) of such amendments which shall constitute good and sufficient to You. Your continued use of the Services after such notice shall be deemed to be acceptance of such amendments, and You shall be bound by the Terms and Conditions as amended.

19. WAIVER & SEVERABILITY

No delay or failure by Us to exercise or enforce Our rights under these terms shall operate as a waiver thereof nor shall such delay or failure in any way prejudice or affect Our rights at any time.

In the event that any of the provisions contained in these Terms and Conditions are found to be invalid or unenforceable, such provisions shall be deemed to be deleted, while the validity and enforceability of all remaining provisions shall continue unimpaired.

20. ASSIGNMENT

You shall not assign or transfer any or all of your rights, interest and obligations under these Terms and Conditions without PEC’s prior written consent.

21. THIRD PARTY RIGHTS

A person who is not a party to these Terms and Conditions shall not be entitled to enforce any provision of these Terms and Conditions under the Contracts (Rights of Third Parties) Act (Chapter 53B of Singapore).

22. NOTICES AND CORRESPONDENCE

All notices, communication and correspondence by Us (“ Communication”) may be sent to You by hand, post, email, facsimile transmission or any other means deemed appropriate by us. Such Communication may be sent to Your address or email as maintained in Our records or from which We have received any communication from the Customer. Any such Communication addressed and sent to You shall be deemed to have been received by the You:
a.) If delivered by hand, on the date and at the time it was delivered to (or left at) Your address; b.) If transmitted by way of email, immediately at the time of transmission by Us; c.) If sent by post within Singapore, one (1) calendar day after it was posted, and if sent by post outside of Singapore, seven (7) calendar days after it was posted by Us.

Any communication by You to Us shall be in writing in the English language unless We specify otherwise. We reserve the right at Our absolute discretion to regard any communication from You as invalid or ineffective if we have not confirmed receipt of such communication to You.

23. GOVERNING LAWS

These Terms and Conditions are subject to and will be construed in accordance with the laws of Singapore and the Customer hereby irrevocably agrees to submit to the non-exclusive jurisdiction of the courts of Singapore.