Terms And Conditions

Asian Pay General Agreement

A. Definition

The terms of use in matter define specific terms as follows:

B. Account Structure

C. Identification

Asian Pay Limited. confirms all client ID documents when clients apply for an Asian Pay, adhering to identification procedures it determines, including information of client name, address, date of birth, sex and other identification items. In the case there is either default or false information, or when Asian Pay Limited. consider to be obliged to, Asian Pay Limited. has the authority to reject the Asian Pay opening or close the account without notification to the clients. Asian Pay Limited. also has the authority to request additional identification documents from the clients.

Asian Pay Limited. may request additional identification documents for confirmation purposes in the Asian Pay opening stage, after opening stage or closing stage. Asian Pay Limited. will contact clients through client’s registered Email address or phone number. If clients do not submit the required documents within the time limit Asian Pay Limited. determines, Asian Pay Limited. may freeze or terminate client’s Asian Pay.

Asian Pay Limited. does not cover the loss or damage whatsoever clients might receive through clients’ identification procedure, contacts, Asian Pay freezing or termination.

Clients are to consent to the agreement that all information submitted and entered are correct, and that Asian Pay Limited. has all the authorities to confirm the information by all means. If there is any change to the information as registered, clients must notify Asian Pay Limited. immediately.

D. Dormant Account

Asian Pay Limited. will freeze the client’s Asian Pay if there is no activity within Asian Pay for 6 months since the last transaction. If client does not activate Asian Pay within 6 months, the client's Asian Pay will be forced to be terminated. Should there be application of products or Asian Pay balance left, Asian Pay Limited. has the ownership of them as long as there is no written document from the client within 12 months of compulsory cancellation.

E. Asian Pay Fees

Fee schedule associated with Asian Pay are determined apart from this Terms and Conditions. Asian Pay Limited. is in charge of fee renewal, revision and has the authority to withdraw fees from any currency account without prior notification. Any renewal or revision of fee schedule will be updated on Asian Pay Limited. official website. In case clients do not cancel the Asian Pay, Asian Pay Limited. will assume clients agreed to the revised or renewed fees.

Should clients trade more than certain amount of money, Asian Pay Limited. may charge certain percentage of additional fee of the total transaction amount.

F. Transaction Date and Business Day

The transactions that clients make through Asian Pay will be executed on Asian Pay Limited’s business days/hours. Any transaction submitted apart from business hours will be reflected to the Asian Pay on the next business day.

G. Refund

Asian Pay Limited. will follow certain procedures to operate a refund when possible refund balance is in the Asian Pay’s Saving Account. Asian Pay Limited. is not responsible for refunds that excess the amount of possible refund balance. Asian Pay Limited. has the right to make decisions whether which case should be refunded when total amount of refund is more than the capacity and there are multiple refund requests. Asian Pay Limited. has no liability to the clients for the costs and responsibilities caused when there are disputes between the clients who has requested for a refund and other third parties.

H. Transaction History

Client’s Asian Pay transaction history will be shown on Asian Pay’s Banking System (https://asianpay.net/). Such history includes transaction details, settlements with Asian Pay Limited’s affiliated financial organizations, clients and venders. Asian Pay Limited. will not issue certificate of deposit or any bank letter to clients even upon request.

I. Receival of Deposit

Management of deposit Asian Pay Limited. has the right, if required, to cancel the deposit without notification to clients when there is a cancellation request on the account of multiple or false serve of deposit to Asian Pay from affiliated financial organizations.

Should there be any differentiation between the written currency and the transferred currency as clarified; Asian Pay Limited. will deposit the incoming remittance to the client’s Asian Pay at the certain exchange rates which Asian Pay Limited. specifies.

J. Anti-money Laundering & Anti-Terrorist Funding

In accordance with relevant New Zealand law, Asian Pay Limited. will disclose its information if requested by the authorities with intention to anti-money laundering and anti- terrorist funding measures.

Asian Pay Limited. has the right to request evidentiary transaction document support or investigation support from clients regarding to international transfer. If there is no submission support, Asian Pay Limited. has the right to refuse or limit the transactions of clients. Asian Pay Limited. has no obligation whatsoever to compensate or owe responsibility to those clients. Asian Pay Limited. may suspend trades or cancel Asian Pay on its own decision making in accordance with demand from authorities concerning halting money laundering, terrorist funding, all types of warranted individual, funding incorporates and such. Asian Pay Limited. does not have the responsibility to compensate these losses. Moreover, the clients are responsible for supplementing damages or loss received from Asian Pay Limited.

K. Cancellation

Freezing accounts or compulsory cancellation of Asian Pay will take place if clients were not able to withdraw specified fees by specified time period.

Asian Pay Limited. will cancel Asian Pay when Asian Pay Limited. cannot confirm remittance or other remittance of other transfer methods within 30 days of client’s login authentication.

Clients are allowed to cancel Asian Pay or its subsidiary products according to the terms of use or respective account terms. Clients are required to submit specific documents Asian Pay Limited. demands in cancellation. Also, credit cards, debit cards or cash cards corresponding to Asian Pay should be returned to Asian Pay Limited. Clients will pay costs generated by cancellation.

Asian Pay Limited. has the right to cancel Asian Pay without prior notification to the following clients:

L. Prohibiting Disposition and Pledge

Clients are prohibited to handover Asian Pay or the corresponding services or set up their right to third parties for their usage.

M. Process of (Registered) Information Changes

Clients shall notify Asian Pay Limited. of updates on the registered information when clients lose the Asian Pay Username, Login Password, or Withdrawal Password. Or if there are changes in the registered information such as name (corporation name), address (office address), phone number, mobile phone number, E-mail address, or any other changes. The renewed registered information will be valid from the point the Asian Pay contents are notified to Asian Pay Limited.

Asian Pay Limited. will notify or send documents to the clients’ registered Email address and name. Asian Pay Limited. is to limit the client’s Asian Pay usage when Asian Pay Limited. receives those notifications or documents back. This solution is also applied when the registered Email address is invalid.

Asian Pay Limited. has no responsibility to the damages which clients have caused for not notifying Asian Pay Limited..

Cases when clients delay or refuse posts or Emails to registered address or Email address by clients because of delivery faulty, Asian Pay Limited. will also assume that those posts or Emails are delivered by normal time and date. Asian Pay Limited. do not hold any responsibilities regarding the loss caused by this case.

N. Balancing Out Client’s Credit Obligation

Asian Pay Limited. has the right to balance out at their command when clients are not following their owing debts even before the deadline of credit obligation, using the deposit or credit obligation clients remitted to Asian Pay Limited.

Quoting the above statement, time interval for calculation of interest rate, discount rate, delay costs are to be on the executed date of calculation, where obligation credit debt interest rate and percentage rate are to be determined rationally by Asian Pay Limited. Furthermore, the foreign exchange rate is determined by the market rate on the execution date with interest rate of the execution date.

Asian Pay Limited. might, if necessary, collect debts through specific debt collectors of third parties.

O. Matters Related to Disclaimer

Asian Pay Limited. will execute its clients' Asian Pay transactions through affiliation with other banks with care. Transactions executed by clients' Asian Pay will be assumed as trades executed by its genuine users, which means Asian Pay Limited. does not have the liability to any loss or damage caused by fraudulent users, access abuse or other cases of abuse regardless of any reason. Asian Pay Limited. also has no liability to its clients regarding irrelevant causes from Asian Pay Limited. such as forced transfer, war, disaster, riot, economic sanction, legal restrictions or orders. The same goes with effects from deliberate or delinquent accidents, defaults, bankruptcy of affiliated financial organizations, or orders from the New Zealand government or relevant authorities. Asian Pay Limited. also does not take any responsibility from the loss or damage of its failure of service to clients when there are unavoidable reasons for inconvenience with communication equipment, lines, server failures, software failures or outages. Clients are to agree to Asian Pay Limited. transaction value records as correct unless there is evident discrepancy with Asian Pay Limited. client record and clients's own record proved by written document of transaction records. Asian Pay Limited. will assume the clients have agreed to the trading history in Asian Pay as correct when there is no contact from clients within 14 days of presented trade history date.

Asian Pay Limited. does not deal with changes or cancellation of executed transactions after six months of the execution date.

P. Management of Client Information

  1. Client Information is to be managed subdued to the privacy policy Asian Pay Limited. individually determines.
  2. Asian Pay Limited. has the right to run its business including outsourcing management of client information to a third party according to the privacy policy noted above. Also Asian Pay Limited. will disclose its client information when there is request from affiliated financial organizations, New Zealand law department, court command, or the government.

Q. Applicable Laws and Court of Jurisdiction

Clients are to comprehend transactions, every relevant clause within this terms and conditions of Asian Pay Limited. through applicable laws of New Zealand.

R. Change of Transaction Terms and Conditions

  1. This Terms and Conditions are updated continuously with Asian Pay Limited. decisions and will be valid from the updated date. Asian Pay Limited. is to determine all the terms, regulations and procedures concerning transactions that are not mentioned in this article.
  2. Asian Pay Limited. will change and notify its clients about the Terms and Conditions content through Asian Pay Limited. official website including the Asian Pay website. After the amendments of this article, clients are to follow the renewed article assuming clients have consented to the changes in the services, transactions and Asian Pay unless they apply for cancellation.

S. Other Notes

< Risk >
Clients are to comprehend the risks of marginal gain or loss within Asian Pay, since it is a multi currency account and therefore it is affected by foreign exchange rates fluctuations..
< Trade Limits >
Asian Pay Limited. has its arbitrary right to stop or limit the Asian Pay service for clients depending on rapid market fluctuations or global economic volatility. Asian Pay Limited. does not have the liability to clients to cover for the loss caused in this case.
< Asian Pay Limited. Official Website >
Asian Pay Limited. offers clients foreign exchange rate, interest rate and financial information intended for client awareness as reference, and not recommendation or assuring trades based on the information provided.

AP Money Transfer Service Terms and Conditions

A. Matters Concerning Security

  1. Clients are to strictly protect information such as Username, Login Password, and Withdrawal Password. Also they are not allowed to disclose information to Asian Pay Limited. certified Official Agent, Asian Pay Limited. customer support or any other third parties.
  2. When logging into Asian Pay system, Asian Pay Limited. may freeze the client's Asian Pay service if the client uses fault Username or Password as registered for multiple times. Please contact customer support for re-activation.
  3. If clients lose their Username, Login Password or Withdrawal password on their own or on account of others, notify Asian Pay Limited. immediately and request Asian Pay freezing. Afterwards with certain method, Username, Login Password and Withdrawal Password will be issued again to your registered Email address.
  4. Asian Pay Limited. does not have the liability to cover for the damage before completion of necessary procedures, unless there is deliberate or critical delinquency on Asian Pay Limited..

B. Business Hours

  1. Transaction hours of Asian Pay are to be determined for 24 hours per day, every day of the week. However, Asian Pay Limited. will determine each transaction hours of Asian Pay services apart from this article.
  2. Asian Pay Limited. does not have the liability regarding the loss or damage caused by stop of service for system failure, repair or maintenance without prior notice, regardless as mentioned in the above.

C. Limit to the Amount upon Using the Asian Pay

Limit to using amount of Asian Pay is to be determined by Asian Pay Limited.

D. Username and Password

Clients are to set up username, login password and withdrawal password with the Asian Pay application.

Clients are open to logging in to Asian Pay by using their username, login password for accessing to Asian Pay system and transaction history and etc.

Using overseas transfer or internal transfer in Asian Pay system, clients are required to enter their withdrawal password to login.

Asian Pay Limited. identifies the clients based on their information such as username, login password and withdrawal password registered on the Asian Pay system. Asian Pay Limited. will assume Asian Pay users to be accessed by its proper clients as long as the username, login password and withdrawal password matches the registered information. Asian Pay Limited. has no liability whatsoever to its clients to cover the loss or damage when username, login password or withdrawal password is fabricated, forged, stolen, abused or is under any other violation. Clients are to consent to the identification procedure as stated in this article and protect their login information of Asian Pay without presenting to a third party.

Clients are to contact Asian Pay Limited. immediately if the username, login password or withdrawal password are doubtful.

E. Request for Deposit, Money Transfer and International Transfer

  1. Foreign Currency Transfer refers to the money transfer between available currencies within an Asian Pay nominee's Saving Account.
  2. Internal Transfer refers to the money transfer between Asian Pay Limited's Asian Pay holders.
  3. Overseas Transfer refers to the remittance from Asian Pay Limited. to financial organizations other than those of which Asian Pay Limited. is affiliated with.
  4. Transfer to Affiliated Financial Organizations refers to transfer to the corporations affiliated with Asian Pay Limited. and own Asian Pay.
  5. Clients must enter the correct information for transfer within their accounts, internal transfer, overseas transfer and transfer to affiliated organizations. Clients will request for execution by clicking on the ‘Submit' button after entering their required information items. After execution of their requests, clients are to consent that they do not have the right to make objections whatsoever and that they are valid. Asian Pay Limited. does not have any liability to its clients even when execution of their requests failed or was postponed because of errors or defaults in their request information.
  6. Clients are open to making use of transfer within Asian Pay, internal transfer, overseas transfer or transfer to affiliates under the limit of transaction amount per day or per transaction. Asian Pay Limited. has the right to change the transaction limit without prior notice to the clients.
  7. Clients can check their transaction history about internal and international transfer, etc. on our Asian Pay user interface. Furthermore, clients are to confirm Asian Pay Limited. when they cannot view the screen or there is error in the transaction information after transaction requests were made. Clients are to agree to the condition that transaction requests are not always processed right after the request or within the same day requests were made. Asian Pay Limited. does not have the liability for late response to process transaction requests.
  8. When there is failure of transfer within the same account, internal transfer, overseas transfer or transfer to affiliated corporates to specified accounts because of errors, defaults or other reasons, Asian Pay Limited. will refund the clients to their accounts. Fees occurred by this event will not be refunded to clients without exception. Asian Pay Limited. also has no liability to any damage that clients receive.
  9. Transfer within the same account, internal transfer, overseas transfer and transfer to affiliated corporations cannot be cancelled once the clients' request is final. If the balance of account is short of the requests, Asian Pay Limited. will not execute them. Asian Pay Limited. does not have any liability for the damage caused by this event.

Online Money Transfer Terms and Conditions

A. Transaction Management

Online money transfer provided through Asian Pay deal with multi currency (USD,GBP,EUR,CAD,AUD,NZD,HKD,JPY,CHF,SGD,CHY) as mentioned in product manual.

B. Acceptance of deposit through transfer

Asian Pay Limited. will reflect its clients' Asian Pay as follows when there is transfer from other financial institutions.

C. Terms and Conditions

This Terms and Conditions (this English version) are to be prioritized to the general terms of use if there are contradictions between them.