VouWallet Documentation

TECTRIX SERVICE DMCC operates under the VouWallet brand. This Agreement is concluded between TECTRIX SERVICE DMCC ("VouWallet", "Company", "we", "our") and you ("User", "You", "Your").

VouWallet operates a licensed technical platform to provide Services, and TAKING INTO ACCOUNT that User intends to use Services provided by the Company and has completed all the steps necessary to open an account in accordance with the description given in this Agreement.

In this Agreement, unless otherwise provided by the context, the definitions have the meaning provided for in the section "Definitions". Any definition used in this Agreement and not otherwise interpreted has the meaning assigned to it by Law and/or by any Directive.

Сlause headings are used solely for the convenience of creating links to individual parts of the document and do not affect the content and interpretation of the Agreement. Unless otherwise indicated in the context, the singular implies the plural and vice versa, and one gender implies the other. A reference to any agreement (including this Agreement) or to any other document is considered to include references to them, subject to amendments, additions and revisions, as well as to all agreements and documents, including additional agreements or annexes.

This Agreement includes references to the Acceptable Use Policy, Privacy Policy, and other Company documents ("Rules") that contain terms of service related to the use of the Service.

This Agreement, as well as other documents and information that, according to the law, must be provided to you as a user of the Company's Services, are always available on the Company's website https://vouwallet.io/en_documents (usually in the "Legal information" section). This information may also be sent to you by e-mail or displayed on the Company's website or in some other interface when you use the Services. Any changes/updates to this Agreement and the Rules are published in the "Legal Information" section on the Company's website, and the date of their entry into force is indicated in each separate update. Certain regulatory conditions apply.

To use Company's Services (including transferring and receiving payments) you need to open a VouWallet Account. When registering to access the Services (Account Registration), you must read, agree and accept all the terms and conditions contained in this Agreement by clicking the button under the Account registration form. We recommend that you print or save a copy of the Agreement (including the Rules) in electronic form for your personal archive. Regardless of whether you have followed the above recommendation, you acknowledge that any use of the services by you means your acceptance of the Agreement and Terms of Service. To complete the registration, you need to complete the authorization procedure for the phone number that you specified in the registration form. When executing authorization, follow the instructions given in the appropriate fields of the form on the Company's website. If you fail to complete the authorization procedure, the registration of a VouWallet Account will be rejected.

IMPORTANT NOTIFICATION AND WARNING

You are strongly advised to read and understand this Agreement before accepting its terms and conditions. It is your sole responsibility to understand and comply with all laws, rules and regulations in force in your region of residence that may apply in connection with your use of the services. Request legal advice if you are not sure that you have understood this Agreement correctly. Consider all aspects of this Agreement, Rules, relevant laws and regulations when deciding on the use of the Services. Certain restrictions provided by your local legislation that may apply to you may include, but are not limited to, foreign currency transfers, the import or export of certain goods and/or services, duties, taxes and customs regulations.

Definitions

"Account" or "VouWallet Account" means a Personal account. In the text of this agreement, this definition can mean both a user account when registering in the system, and an electronic wallet (e-wallet) reflecting the balance of electronic money (balance), depending on the context.

"Agreement" means this agreement, including all subsequent amendments and any additional documentation accompanying it, which the User should follow when working with the service.

"Balance" means any electronic funds held in your VouWallet Account.

"Working Days" means days (other than Saturdays, Sundays or public holidays/bank holidays) when banks in Dubai, UAE, are open (except for the sole purpose of round-the-clock electronic banking).

"Calendar year" means the period of each year from January 1 to December 31 inclusive.

"Chargeback" means a reparation of loss by the credit card issuer for damages from a fraudulent or disputed transaction by a Supplier of goods (services).

"Claim" means a disputing against a payment made by the person who transferred the payment directly to the Company.

"Dispute" means a dispute filed directly with the Company.

"Electronic money" means the monetary value presented as a claim to the Company, located on an electronic device, issued upon receipt of funds and accepted as a means of payment by persons other than the Company. Definitions "Electronic money", "money" and "funds" in this Agreement are interchangeable.

"Payment Method" means the payment method used to complete the transaction in accordance with the Agreement.

"Supplier of goods (services)" means an entrepreneur or a legal entity that sells goods and/or services online through its website(s) and accepts Electronic money from Users using Company's platform.

"Payment Order" means a valid payment transaction order sent to us by User.

"Payment service provider" means a payment system, a payment institution, or a financial company.

"Personal data" means any information related to a designated person who can be directly or indirectly identified in accordance with the requirements of the legislation on personal data.

"Company website(s)" means any website, for example, https://vouwallet.io/en_documents, through which we provide Services to you.

"Rules" means any rule and other agreement between you and Company entered into by you on the Company's website(s), or in connection with your use of the Services.

"Restricted activities" means the activities set out in section 11 of this Agreement.

"Services" means all products, services, content, features, technologies offered by Company (including E-Wallet services), as well as all related sites, applications and services.

"Unauthorized Transaction" and "Unauthorized Access to the Account" have the meaning specified in Section 12 of this Agreement.

"User, you, your" means you and any other person entering into this Agreement with Company or using the Services.

"Verified" means that the User has passed the data verification procedure provided by the Company, as a result of which confirmation of the User's identification data has been received.



1. Basis for the provision of Services

1. VouWallet - the brand under which Company offers its services.

Main activity of Company is the issuance of Electronic money and the provision of services directly related to the issuance of Electronic money.

Company gives you the opportunity to make payments to third parties, including Suppliers of goods (services), and accept payments from third parties, including Suppliers of goods (services).

Company also allows you to keep funds (balance) in the account, which cannot be considered either as deposits or investments and are not subject to protection in accordance with the deposit protection plan. No interest is accrued on the balance of User's funds, since VouWallet accounts are not deposit accounts.

Company does not control and is not responsible for the quality of the goods or services that you pay for using the Service, since in this case Company acts as an independent intermediary (Payment Service Provider). Lack of control means that the Company cannot guarantee that Suppliers of goods (services) fulfill their obligations to you and does not assume obligations and potential liability arising from transactions related to the purchase of goods (services) paid for by you using Company's Services.

In addition, Company cannot guarantee the authenticity of User's identification data, as well as guarantee that the transaction between the contracting parties will be successfully completed. Thus, there are natural risks associated with the inability to guarantee the authenticity of User identification data in cases where the User provides deliberately false information. This circumstance may lead to the fact that Services can be used by persons under the age of 18 (minors), despite the Company's requirement that access to the Service is prohibited for users under the age of 18.

2. Protecting your privacy is of great importance to the Company. Please read our Privacy Policy (published on our website) to understand how we intend to protect and use your personal data. Any personal data that we may use will be collected, processed and stored in accordance with the provisions of applicable law.

3. Company's brand, its website(s), URL(s), logos associated with the name, products and services described/used on electronic and paper media are copyrighted or are registered trademarks and other intellectual property of Company or its licensors. In addition, all page titles, customized graphics, button icons and scripts that are copyrighted, trademarks belong to Company. Copying, modification, corrections of any kind are strictly prohibited unless the Company has given its consent to such actions. You are prohibited from changing or modifying the material provided to you in any way, as well as using it in a manner that gives the impression that you are a sponsor of company, or company is your sponsor, changing logos, using them in any way that has a negative impact on Company or Services. All rights to the Company's website and any materials contained on the Company's website are the exclusive property of the Company and its licensors.

When providing us with content or posting content online (in each case for publication, online or offline) in the process of using the Services, you grant the Company a non-exclusive, non-territorial, permanent, irrevocable, royalty-free right to use copyrights, advertising rights, trademarks, rights to the database and other intellectual property rights that you own in relation to the content, on any media currently known or that will be known in the future. In addition, you (to the maximum extent permitted by applicable law) waive your non-proprietary copyrights (the right to authorship) and undertake not to claim such rights against the Company or its legal successors. You represent and warrant that none of the following violates any proprietary right:

• your provision of content to us
• your posting of content using the Services
• the use of such content by the Company (including any works derived from it) in connection with the provision of Services.

4. Official language of interaction is English. Translation of documents or other information into other languages will be available on the Company's website and may be updated periodically by the Company. You agree that the information will be provided to you in the following ways:

• Company's website (including posting information available to you after logging into your account)
• e-mail message to the e-mail address provided by you in your account (to receive such an e-mail message, you need to have access to the Internet and to your e-mail account)
• by mail to the postal address specified in your account

Such notification is deemed to have been received by you within 24 hours of posting on the Company's website(s) or sending you an email. If the notification is sent by mail, we will consider it received by you five Working days after sending. These deadlines do not include notifications related to changes to the Agreement. You have the right to request from us a copy of any legally required information (including this Agreement), and we will provide it to you in a form that allows its storage and reproduction.

Notifications to the Company concerning this Agreement must be sent by e-mail to: support@vouwallet.io.

5. Your transaction history and account balance can be obtained after logging into your account in the "My Transactions" section. Company will not send you transaction reports either by mail or by e-mail. You hereby confirm and agree to view your transaction history through your Account and the corresponding section of the transaction history. If for any reason (for example, limited access) it is not possible to access your transaction history through your account, you can contact our Company representatives with an appropriate request by e-mail support@vouwallet.io.

6. Transferring your account to a third party is strictly prohibited. You may transfer or assign any rights or obligations arising from this Agreement to third parties only with the prior written consent of the Company. Company has and reserves the right to transfer and assign any right or obligation under this Agreement (or this Agreement as a whole) to third parties at any time without your consent. Of course, this right does not prohibit you from closing your account with the Company and terminating this Agreement in accordance with the termination section set out below.


2. Accounts

1. Persons, who entitled to use our services are:

1. Residents of any of the countries listed on the Company's website, with the exception of the UAE, Afghanistan, Iran, North Korea, CAR, DR of Congo, Mali, Somalia, Yemen, Libya, Sudan and South Sudan.
2. Individuals (natural persons) aged 18 and over
3. Persons (exclusively individuals) who have the legal right to conclude an agreement

Shared accounts and nominee accounts are prohibited, and when opening an account, User assures and guarantees that he/she is the sole beneficiary of the account, as well as that all actions executed in relation to the account are undertaken personally by User. A new account can only be opened by using User's name.

2. Company offers an exclusively Personal account type. Users have the right to open only one Personal account.

3. Opening an account with an unverified status allows you to transfer electronic money ("e-money"), receive electronic money and/or withdraw money from the account, taking into account the established limits. Status of an unverified user is assigned to you immediately after you open an account and fill out a form on the Company's website. To upgrade your status to verified and increase your limit, you need to follow these steps:

• For account holders who are citizens of other countries: provide (i) a scanned color copy of an official document confirming your identity with your photo; and (ii) a document confirming your permanent residence (for example, a scanned utility bill, bank confirmation, internal passport or other official document that will be considered By the Company as acceptable for customer identification purposes ("know your customer", KYC)). To confirm your identity and address of residence, you must submit two different documents.

Company has the right to change or amend the Rules and offer you other ways or procedures to obtain verified user status. Such methods will be published on the Company's website. By indicating your status as verified, Company only confirms your new status, which does not mean, does not make it mandatory and does not guarantee the execution of the transfer.

In addition, Company has the right to request additional documents from you during the verification process. List of a relevant documents will be provided to you by the Company.


3. Money transfer

1. In accordance with the terms of this Agreement, you agree that the Company will execute your payment order by debiting funds from your account and crediting funds to the account of the person to whom you transfer electronic money issued by the Company on the same day. Payment order can be executed through your account on the Company's website or on the website of a Supplier of goods (services) integrated with the Company's platform. If the recipient's account is with another payment service provider, payment will be executed as quickly as possible, taking into account the conditions provided to the Company by such a provider, which is usually one working day from the date we receive your payment order.

You cannot cancel or revoke a payment order that has already been received by us, just as you cannot revoke your consent to the execution of the transaction. User can cancel the payment order only in the case of a recurrent payment, or if the order to cancel the payment is submitted at least before the end of the workin day preceding the next recurrent payment. Under no circumstances is the Company obliged to execute a payment order if User does not have enough funds in the account. Company reserves the right not to make a payment until it receives a reparation for this payment from the payment service provider (this also means, without limitation, that Company is not obliged to make a refund until it receives a reparation).

2. Certain restrictions (limits) may apply to transactions on your Account due to the requirements of anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, in order to limit the risk of fraud or credit risk). In no case may such restrictions (limits) exceed the maximum permissible limits provided for by the legislation on the prevention of money laundering, or any other legislation or directive of the regulatory authority. Specified restrictions (limits) can be viewed in your account.

3. A number of transfer limits are imposed on all accounts. In order to increase your initial transfer limit, you need to follow the steps below to obtain a verified status. Procedures by which Company will require you to change your status and increase your limits may change from time to time. At the same time, information about these changes will be provided to you.

4. Transactions will be executed only if there is an available balance in your VouWallet account. In order to ensure that there is an available balance, you need to check your account balance and, if necessary, replenish your account by transferring funds using any of the payment methods available to you. After receiving the funds, Company will issue electronic money and save it as a balance on your account or transfer electronic money to the recipient, in each case – according to your instructions and in accordance with the terms of this Agreement.

5. You can choose the payment method at your discretion when replenishing your account balance, when making a regular payment, or when granting a third party the right to debit future payments from your VouWallet account. Your balance will be continuously used as the source of your next payment transaction.

6. Company may limit the payment methods available to you when depositing funds to your account. The reason why Company may impose such a restriction is to manage the potential risk that may result from a payment transaction. Any such restriction will be notified to you before the payment transaction is completed, at which point you will be asked to specify an alternative payment method (for example, another electronic wallet instead of a credit/debit card). Although Company may allow you to continue using the payment method that originally posed a risk, such an action will be executed with your consent and may limit your right to challenge the transaction (you may not be able to challenge the transaction due to the limitations of the payment method).

7. You cannot replenish your VouWallet account using a payment method (bank card, e-wallet or other) that you are not the owner of. Company takes violations of this kind very seriously and will consider any attempt to replenish the account with other people's payment methods as fraud. In case of detection of such actions, or attempts of such actions, your Account will be blocked, and the account balance will be frozen until the investigation of the case is completed.

8. Replenishment of the account with cash is strictly prohibited.

9. It is possible to replenish your VouWallet account using several methods: transfer to a card, cryptocurrency and Binance Pay. User chooses any convenient payment method and follows the instructions provided by the VouWallet service. In order to use the transfer to the card using the provided details, copy the details for the transfer, make a transfer to the required amount and wait for the deposit to be credited. Payment details change with each new deposit. Funds must be sent strictly by intrabank transfer, sending and receiving bank must be the same. Otherwise, the transfer of payment is not guaranteed. In order to execute this operation, you agree that:

1. When making any transfer, you must remember that you are solely responsible for following the instructions provided, which may change from time to time. Please make sure (or ask a third party making a bank transfer for help) that when making a user's bank transfer or a third-party bank transfer, the correct bank card details provided are entered, and make sure that after making the transfer, the money is credited to your balance.
2. Company does not accept any electronic transfers initiated in banking institutions registered in countries that are classified as high-risk in accordance with the regulatory requirements of FATF, EU, USA and/or United Nations in relation to aiding money laundering and financing of terrorism, including: Afghanistan, Iran, North Korea, Central Asia, DR of Congo, Mali, Somalia, Yemen, Libya, Sudan, South Sudan and UAE. Thus, any transfer initiated from the banking institutions of these countries will be blocked, and the funds will be returned to the banking institution that initiated the transfer.
3. Electronic money transfer is not an analogue of online payment. In this regard, the transferred funds will be reflected in your VouWallet e-wallet only after the funds are credited to the Company's bank account.
4. Company has the right to charge fees or commissions for making bank transfers in accordance with the tariffs indicated on the Website. Keep in mind that the banking organizations involved in the transaction may charge an additional fee for the execution of this transaction. Company does not control the establishment and collection of such commissions and fees and, therefore, is not responsible for their establishment and collection.
5. Maximum amount of each transfer is limited by limits (daily or annual), set depending on the level/type of your VouWallet account. Thus, if the amount transferred exceeds the limit set for your e-wallet, you will be asked to go through the verification procedure. If you refuse to undergo the verification procedure, or if the amount of funds transferred exceeds the established limits, the bank transfer will not be accepted by the Company, and funds will be returned to your bank account at the servicing bank. Please keep in mind that your servicing bank may charge additional fees for such transactions.

10. When using an e-wallet provider to replenish your account balance and execute a payment transaction, you request an electronic transfer from your e-wallet account to your VouWallet account. To execute this operation, you agree that you need to instruct your e-wallet provider to make a payment to the VouWallet account. You contact your e-wallet provider directly in the manner specified by your provider and instruct him to make a payment to the VouWallet account using the provided details, as you would do when making any other payment using an e-wallet.

11. When using a payment service provider (aggregator) of a mobile operator to replenish your VouWallet account, you request a transfer from the payment service provider's account to your VouWallet account. To execute this operation, you agree that in order to replenish your balance, you need to instruct your payment service provider to make a transfer to your VouWallet account. You directly contact the payment service provider using the method established by your provider and instruct him to make a payment using the provided details, as you would do when making any other payment using an electronic wallet.

12. When using a credit or debit card to replenish your VouWallet account, you request a transfer from your credit/debit card issuer's account to your VouWallet account. To execute this operation, you agree that in order to transfer money to the VouWallet account, you need to transfer an order to the issuing bank of your card through our acquiring agent using a token. You contact the issuer of your credit/debit card not directly, but through the acquiring partner of the Company, in the manner and in the manner established by the provider, and instruct him to transfer funds to your VouWallet account. Acquiring agent uses the Token Terminal program, which is one of the ways to tokenize credit/debit card information using cryptographic technology in order to protect your personal data and card data. Company will not store any of your credit/debit card details and will not require their disclosure. Tokens are reusable and can be used to make and receive payments before their expiration date, which is linked to the expiration date of the issuer's credit/debit card.

13. Recipient is not obliged to accept the electronic money transferred to him/her, despite the availability of such an opportunity. Company cannot control such actions, and you agree not to make claims against Company for any damage resulting from the recipient's decision not to accept a payment made through the Company's service. For these purposes, Company may:

1. Refund any rejected or reparation payment to your VouWallet account;
2. Refund any payment not claimed by the recipient to your VouWallet account from the date you gave order to the Company to execute the payment.

14. Currencies in which the user can make transactions are currently euros, US dollars and russian rubles. Other currencies may be added to this list, and relevant information will be posted on the Company's website. Company has the right to add or remove currencies from the list of allowed ones at its discretion. If the currency in which the user had a balance has been removed from the allowed list, the balance is stored in the specified currency until the user withdraws these funds using any of the available methods. However, this balance cannot be used for payments. For certain currencies, there may be restrictions on transfers to certain regions.

15. Upon receipt of funds sent to us using any payment method you choose, we will issue electronic money for the appropriate amount in your VouWallet Account. If we receive funds in a currency other than the Account currency you have chosen, we will not be responsible for your possible losses or expenses if our servicing bank is forced to convert currencies to exchange accepted funds into the currency of your Account.

4. Receiving money

Transfer of funds to the VouWallet account from any source of the User's funds and using any means of payment provided for in the terms of this Agreement is considered final and irrevocable from the moment the balance of funds (balance) on your VouWallet account increases. From the moment of successful transfer of funds (increase in the balance) to your VouWallet account, Company's obligation to transfer the payment amount is fulfilled in full and cannot be disputed or claimed.

1. Your VouWallet account may be subject to a limit on the amount of incoming funds from time to time in accordance with the anti-money laundering laws or at our reasonable discretion (for example, without limitation, in order to limit the risk of fraud or credit risk). In no case will such limits exceed the maximum permissible limits established by the anti-money laundering laws, as well as any other law or directive related to the jurisdiction of the Company. All current limits can be viewed in your account information.

2. There are at least two limits on the amount of incoming funds imposed on all accounts. In order to increase your initial limit on the amount of incoming funds, you need to execute the following procedures to change your status. Procedures by which Company will require you to change your status and increase your limits may change from time to time. Relevant information about updating the procedures will be provided to you.

3. Company has the right to review all payment transactions and will be entitled to do so in all cases when it considers that there is an operational risk. Such actions will be executed if Company has a reasonable suspicion that the payment transaction may be related to restricted or prohibited activities, or for other reasons determined by the Company. When reviewing the payment, Company will execute User's order for the payment, but at the same time suspend the issuance of electronic money in favor of the specified recipient. This operation means that the specified payment amount will be debited from User's account, but the corresponding amount will not be credited to the recipient's account, resulting in a balance with a deferred obligation. If the transaction involves the purchase of goods, Company will notify the seller of the need to hold the goods until Company completes the verification of the transaction and authorizes the transaction.

If the transaction is deemed unacceptable, Company will reject the payment and return the electronic money to the sender's account. Company will notify you by e-mail. Payment is subject to approval for the sole purpose of minimizing the risk of Company, as well as the risk of transactions of its Users. At the same time, Company does not intend to influence the business relations of the interested parties, their reputation, or discredit the participants in the transaction in any way.

4. Upon receipt of funds, Company increases the balance of electronic funds in the account and makes it available for other payment transactions or debit operations. Notifications from Company that you are the recipient of electronic money are confirmation that balance of electronic funds has been increased and has become available for transactions. You confirm and agree that the payment transaction has been executed and the funds have been received by you upon receipt of the relevant notification from Company, even if the transaction is subject to cancellation for the reasons set out in this Agreement. If funds were credited to your account by mistake, you can contact Company's Support Service to cancel the operation and receive further instructions.

Invalidity of a transaction as a result of cancellation, abolition or suspension does not release you from liability to Company, and you continue to be responsible for any amount owed to Company plus any fees associated with payments.

5. Recipient can receive funds in any currency allowed by the Company, regardless of the currency in the account at the time of the transaction, if the payment is accepted. In this case, Company will credit the amount to your account in the currency in which it was sent. You confirm and agree that if you have accounts in several currencies open at the time of debiting funds, it may be necessary to convert funds in the currency of your account into the currency of the account of another payment method during the transaction.

This may entail additional fees unrelated to Company and its Services, for which Company is not responsible. Contact your payment method provider directly and request information about such potential fees and its currency conversion policy.

6. Company is not responsible for the accrual of any taxes related to your transaction, as well as for the collection, filing of reports and payment of taxes that are levied on any transaction. You agree that it is your sole responsibility to record taxes related to the transaction, as well as to further collect, report and pay taxes related to any transaction to the appropriate tax authority.

5. Information about account balances and transactions

1. User can check his account balance and information about the history of his transactions (including currency exchange transactions) at any time by logging into his account. To do this, you need to log in to your account using your credentials (username and password). After that, you will be asked to enter an SMS code, which you will receive on your mobile phone, for further authorization and access to your account and credentials. Balance will be permanently displayed in the left corner of your account interface. Transaction history contains information about the service, transaction number, currency, transaction amount, fees associated with each transaction, and transaction status.

After logging into your account, you can print hard (paper) copy of the transaction history registry or export the registry in CSV/XLS format. Online operation history for the last 24 months is available to you. If you want to receive an extract for a period earlier than the last 24 months, you need to contact customer support to receive an extract offline. In offline mode, it is possible to receive an extract for a period within the last 60 months (five years), and you may be charged a commission for such a request. Information about the possible collection will be sent to you before you send us an order.

2. Account balance will be displayed continuously, even if it is zero. No interest is paid on the positive balances, since the balance is expressed in electronic money, and account is not a deposit account, therefore no interest is accrued on the account balances.

3. You agree that Company may debit any amounts owed to the Company from the amounts of your VouWallet account. Company will seek to repay any debt owed by User to the Company in euros. If User has a debt to the Company, but does not have an account in euros, Company has the right to use other payment methods. You agree that such potential ways are:

1. Retention from the amount credited to your account
2. Retention from the amount requested for debiting
3. Using the amount in another currency in your account. When using this method, you agree to pay any fees related to currency conversion.

Any amounts owed to the Company for a period of more than 15 (fifteen) working days will be automatically debited from any balance in any currency on your account. Company has the right to transfer this amount in euros with the payment of conversion fees at your expense.

4. As security for any potential amounts owed by User to the Company, User agrees to grant the Company a pre-emptive right of claim ("right of retention") in respect of balances and receipts on your account.

5. Currencies in which Company allows you to carry out transactions are not linked to any other currency, and their exchange rate fluctuates daily. Maintaining accounts in multiple currencies can be risky and lead to potential loss (or profit), which will become apparent on the day you decide to withdraw the account balance in a currency other than your account currency. Company prohibits the maintenance of accounts in several different currencies for the purpose of speculation (playing on exchange rates). You agree not to commit such actions and assume the risk associated with maintaining accounts in multiple currencies.


6. Debiting/repayment of electronic money

1. Debiting is actually a requirement to repay electronic money in your account and convert it into real money. Users can send an order to Company to partially or completely debit the account balance in the currency in which the account is contained, if payment method you choose can accept payments denominated in the currency of your account. Debiting can only be made to a valid payment method that has been confirmed as your own.

2. Debiting limits may be set for your account from time to time to comply with the requirements of anti-money laundering laws and regulations or at our reasonable discretion (for example, without limitation, in order to limit the risk of fraud or credit risk). In no case will such limits exceed the maximum permissible limits established by anti-money laundering laws or any other law or directive related to the jurisdiction under which Company is granted rights. Such limits can be viewed in your personal account.

3. At least two debiting limits are imposed on your accounts. In order to increase your initial debiting limit, you need to follow the steps below in order to obtain the status of a verified user. Procedures during which Company will require you to change your status and raise your limits may change from time to time. Relevant information about updating the procedures will be provided to you.

4. Company has the right to verify all debit transactions from the account and will do so in cases where the probability of risk increases. Such checks will be carried out when Company has a reasonable suspicion that the debiting operation may be related to restricted or prohibited activities, or for another reason, at the discretion of Company. When checking the debit from the account, Company will consider your debiting/repayment order as a future payment order. After Company decides that there is no longer a risk for making a debiting/repayment, it will fulfill it within the time limits provided for in this Agreement. You agree that if your debiting/repayment order is executed, this order will be executed one working day after the restriction is lifted.

5. When using a bank transfer for debiting of electronic funds from your VouWallet account, you need to initiate a bank transfer from your e-wallet to your bank account opened with the servicing bank. To execute such an operation, you agree that:

1. In order to transfer funds from your VouWallet account, you must place a corresponding request through the VouWallet system for making a transfer from Company's account to your account with the servicing bank. Details of our bank account, as well as detailed instructions on how to make a bank transfer, will be provided to you via the VouWallet website. Thus, before executing any bank transfer, you are solely responsible for following the instructions provided, which may be supplemented from time to time. Company can save your bank account details.
2. Company does not accept for execution any orders on bank transfers in favor of banking institutions registered in countries that are classified as high-risk in accordance with the regulatory requirements of FATF, EU, USA and/or United Nations in relation to aiding money laundering and financing of terrorism. Thus, any order to make a transfer in favor of the banking institutions of these countries will be blocked and will not be accepted for execution.
3. Bank transfer is not an analogue of an online payment. In this case, the operation of debiting funds from your VouWallet e-wallet will be reflected in it as soon as the corresponding order is placed in the VouWallet system.
4. Minimum allowable amount of a bank transfer is indicated on the Company's Website. Maximum amount of each transfer is limited by limits (daily or annual), set depending on the level/type of your VouWallet account. Thus, if the amount transferred exceeds the limit set for your e-wallet, you will be asked to go through the verification procedure. If you refuse to undergo the verification procedure, or if the amount of funds transferred exceeds the established limits or the amount of the current balance of your account plus the amount of any possible bank fees and/or commissions, and/or any commissions charged by the Company for the transaction specified in Section 9 of this Agreement, the transaction will not be carried out. Funds will remain in our customer account until the verification procedure is completed. Please keep in mind that you have the right to cancel the operation before funds are debited from the Company's customer account. Company has the right to charge commissions in the amount indicated on the Company's website.

7. Term and termination of the Agreement - Closing your Account

1. This Agreement begins to take effect from the moment when the potential user receives an electronic message about the e-wallet number, and is valid indefinitely until its termination or termination due to the impossibility of execution.

2. Company reserves the right to make changes to any part of the Agreement, especially if Company considers that such changes are necessary according to the statement of the regulatory authority of the competent jurisdiction or the need to change the list or terms of Service. Thus, User must be notified fifteen (15) working days prior to the application of such changes in writing (including by e-mail) or via the Company's website, and User has the right to accept or reject such changes, except in cases where such amendments are based on the requirement of the law and enter into force immediately or within the period specified in the law. It should be borne in mind that User's consent is not required for the changes to take effect.

3. User reserves the right to terminate this agreement within 15 (fifteen) working days from the date of announcement of changes in accordance with clause 7.2. by sending a notification by registered mail to the Company's Head Office or by e-mail (to the e-mail address specified by the Company in your user profile), provided that User has no outstanding transactions on the account and no obligations to the Company.

4. User reserves the right to terminate this agreement for any reason, except for the case specified in clause 7.3., by sending a written notification to the Company's Head Office 7 (seven) working days in advance by registered mail, provided that User has no unfinished transactions on the account of outstanding obligations to the Company.

5. Company may terminate this Agreement by sending a written notice to the User at least 15 (fifteen) working days in advance indicating the date of termination.

6. User agrees that Company reserves the right to block the account, as well as terminate the Agreement immediately by sending him a written notification, in the event:

1. Violations of any part of the Agreement by or on User's behalf
2. Filing an application to the court, issuing an order, decision or other declaration of bankruptcy of User
3. Company has reason to believe that the current record of Company's service belongs to you and is used to carry out illegal actions, legalization (laundering) of proceeds from crime, theft/concealment of funds or financing of terrorism; In this case, Company has the right, in addition to terminating the agreement, to report the violation to law enforcement agencies, as well as disclaims responsibility for any actions of User in view of violation of the terms of this Agreement.
4. Death of User (in case of an individual user)

7. Termination of this Agreement does not cancel any responsibility of User; the latter, as before, bears obligations to the Company for payment:

1. Any amount owed to the Company
2. Any expenses incurred by the Company as a result of termination of the Agreement
3. Any damage caused by the conclusion of an agreement or settlement

8. Upon termination of this Agreement, Company immediately transfers to User the amount available in his e-wallet account, minus the amount owed by User to the Company and taking into account the Company's debt to the User.

9. If clause 7.6. is implemented, Company reserves the right to abolition any transactions that are contrary to the interests of Company or User. If User's e-wallet account is not used for 365 (three hundred and sixty-five) days, Company reserves the right to charge a fine for non-use of the wallet in the amount set on the Company's website (if applicable).

10. If the amount in User's e-wallet account is less than 10 euros (or the equivalent in another currency), Company reserves the right to close the account, notifying the User accordingly, and withhold the appropriate commission.

11. Account cannot be closed if transactions on it have signs of fraud, and Company is conducting an appropriate investigation or for other reasons requiring such actions. Company has the right to withhold the balance on your account for 120 (one hundred and twenty) calendar days from the day when you intend to close your account in order to protect yourself and any third party from potential liability of any kind related to the use of your account or the reasons identified as a result of the investigation. You agree that even after your account is closed, you are obligated to fulfill any obligations related to the use of your account while it was in operation.


8. Fees

1. All stipulated fees charged to Users (commission fee), as well as applicable restrictions (limits) are listed on Company's website.

2. Currently, Company provides a currency conversion service that provides you with the opportunity to transfer funds between your accounts in different currencies. You can find detailed information about this service at any time in the on-screen menu of your VouWallet Account.

9. User responsibility

1. Users are responsible for the following actions (or other actions that Company may periodically inform you about):

1. Using Company's services in a manner that causes complaints, disputes, claims, cancellations, chargebacks, fees, fines, penalties and other types of liability to the Company, User or a third party. In this case, you agree to reimburse the Company, User or a third party for any damage caused by your actions and settle with Company for any amounts owed from the available balance on your account. If the amount in your account is insufficient to cover the debt, you agree that Company can use any proceeds to the account from the transaction, and if such amounts do not cover the debt, allow the Company to recover the amount by other legal means.
2. In case of disputed amounts related to customer claims, cancellation of a payment received by you or a chargeback, Company will block part of your account funds to cover the full amount of the claim. Blocking will not affect your ability to use the account if your account balance exceeds the disputed blocked amount. If the dispute is resolved in your favor, Company will restore full access to your account and unlock the disputed amount. On the contrary, if the dispute is resolved in favor of the disputing party, the blocked amount will be debited from your account to repay the disputed amount..

10. Company Rights

1. Company has the legal right (and in certain cases the obligation) to take actions necessary to eliminate the consequences of User's actions. Company will take measures to protect its interests, as well as the interests of its Users, dependents and other third parties who may be affected as a result of possible restricted or prohibited activities. List of basic compensation measures includes the following actions:

1. Company may suspend, block partially or completely any transaction, restrict use, revoke access or close your account completely. Such a measure will limit or suspend:

Access to funds on your account balance, your ability to withdraw or transfer funds to your payment methods

• Funds transfer
• Receiving funds
• Debiting/repayment of funds
• Making changes to your account details; and/or
• Access to your account history.

Company's policy provides for sending notifications of such actions, however, you agree that Company is not obliged to send notifications and has every reason to do so (for example, notifications may not be sent to a person suspected of money laundering in order not to warn him that an investigation is underway against him, as well as other situations that create a threat to the security of the Company's infrastructure)

1. Company may suspend a payment transaction if there is a reasonable suspicion that it violates the rules regarding limited activities and/or our policy related to the acceptable use of the Company's system/services.
2. Company has the right to reject any payment transaction for any reason without limitation. Unless prohibited by applicable law, Company is obliged to provide information on the reasons for taking measures, as well as, if possible, any legal remedies that the affected party has the right to take in order to remove the restriction.
3. Company has the right to refuse to provide any of the services at any time.
4. In accordance with the law, any information necessary to identify the user must be up-to-date. Company has the right to request that you update the information if it considers it outdated or insufficient. In addition, Company has the right to require that you provide the information necessary to verify your identity, even without your request to increase the limit on transfer, receipt or debit from your account.
5. In order to prevent prohibited activities, Company has the right to disclose information related to such activities to third parties, while following the terms of the Rules.
6. Company has the right to block the necessary balance of your funds for a period of time, which in any case cannot exceed 180 working days (unless otherwise provided by law, decree or decision of the court/management body), for reasons of protection against the risk of liability.
7. Company has the right to bring a lawsuit against you in any competent court..

2. Company may suspend a payment transaction if there is a reasonable suspicion that it violates the rules regarding limited activities and/or our policy related to the acceptable use of the Company's system/services.

3. If user violates the requirements of the law or this Agreement, Company has the right to block User VouWallet account without prior notice and at any time..

4. Suspension of a payment transaction:

1. You hereby agree that Company has the right to suspend a payment transaction if, according to the Company, the risk from this transaction exceeds the permissible one. You will be informed about such actions by the Company.
2. When security threat is eliminated, Company will resume actions to execute the payment transaction. If the suspension of the operation is not related to acceptable levels of risk or operational risk, but is related to the actions provided for in clause 11.1.1, Company may suspend the operation until the dispute is resolved..
3. Company has the right to close the VouWallet account and terminate this Agreement if User objects to the suspension of the operation. In addition, User also has the right to close the VouWallet account if he/she objects to the suspension of any operation. You agree that Company may reasonably request information from you that will reduce or eliminate the risk of suspension of account transactions. If you refuse to provide such information, Company has the right to close your account and terminate the agreement. In case of account closure, Company has the right to block an amount equal to the amount of the corresponding payment transaction in order to cover any potential obligations arising from this transaction.

5. Unless otherwise instructed by the Company, you have no right to use or attempt to use your account during the period when transactions on it are suspended or when the account is closed. You must ensure that all agreements with any third parties involving payments initiated by third parties (including recurring payments) from your Account are abolished immediately after termination, suspension of account transactions or account closure. You are responsible in accordance with the Agreement for all fees and other amounts accrued as a result of using your account at any time, regardless of termination, suspension or closure of the account..

6. In order to comply with anti-money laundering laws, Company may require you to provide additional information necessary to identify your identity and determine your financial situation. Set of requested information is more than is usually required when opening an account, however, you agree to fulfill such requests and provide Company with the necessary information by e-mail, fax and any other means and in any form that may be requested. Such information may include identification documents confirming your identity and registration address, as well as (if necessary) provide us with information about your sources of income at your expense. Any personal data that we may use will be collected, processed and stored in accordance with the provisions of the laws of Dubai, UAE.

7. Customer does not have the right to make any changes to the Wallet software and/or any part of it on his own or with the involvement of third parties, as well as use any means of automated access to the Wallet, unless otherwise agreed; does not have the right to execute actions aimed at or resulting in disruption of the normal functioning of equipment and software of the Company's website, does not have the right to use programs and apply other measures that allow Customer to hide technical characteristics of connection to the Internet for using the Wallet from Company.

8. User is obliged to ensure the storage of Authorization data in a way that excludes the possibility of obtaining access to them by third parties, in particular, not to record Authorization data in such a way that it is possible to determine what these Authorization data relate to, not to save them electronically, including in special programs for storing passwords. User is obliged to independently take all necessary measures to preserve confidentiality, prevent unauthorized use and protect his Wallet from unauthorized access by third parties.

9. User is obliged to:

1. Ensure the antivirus security of the device used to access VouWallet
2. Do not use other people's computers or other devices to access VouWallet
3. Before entering the password, make sure that it is not monitored, including using technical means

11. Errors and unauthorized operations

1. Company acknowledges that unauthorized or erroneous transactions are possible, and emphasizes that you need to regularly monitor your account by reviewing your transaction history.

List is not exhaustive:

1. Access to your account was executed by a person who does not have access rights
2. Operation was processed incorrectly
3. Your account has been used to make a transaction that you have not confirmed
4. Your password has been compromised

If these incidents are detected, User has the right to contact VouWallet Support Service.

2. If you have any questions or difficulties using VouWallet, you can contact Support Service by sending your request to the email address support@vouwallet.io. You can also use Telegram bot @Wallet_Help_bot, which will be able to answer some questions related to using VouWallet.

3. Company will review the submitted reports and report on the results of the investigation within 15 (fifteen) working days from the date of User's initial request. If the initial request was made by phone, the day of registration of the complaint will be considered the day Company submits a description of the problem in writing. Depending on the complexity of the investigation, Company may take up to 3 (three) additional months for a more complete review of the appeal before coming to a reasonable conclusion. Company will try to correct any error caused by its actions as soon as possible in order to allow User to fully use the account.

After the investigation is completed, the results will be communicated to you in writing by registering the incident in the Company's system and sending it to you. The message will contain the results of the investigation and explanations of the established facts that led to the final results. If Company has previously recognized the transaction as erroneous and credited the corresponding amount to your account, but as a result of the investigation it was found that there was no error, Company has the right to retain the same amount from your account as if the transaction was never considered erroneous. Users who have reported an error can request copies of the materials used for the investigation.

4. Company will correct all errors that may be caused by incorrect operation of its system. Errors are usually detected during the reconciliation of calculations. In the event that a smaller amount was mistakenly credited to your account than the amount that is owed to you, Company will deposit the missing difference to your account. Conversely, if an amount exceeding the required amount has been credited to your account, Company will debit the difference from your account. Company will be responsible for reparation of funds for any transaction that was carried out for an incorrect amount or untimely, as well as for any losses and damages directly related to this transaction, except in cases where:

1. There were insufficient funds in your account to complete the transaction for a reason independent of Company's actions
2. You attempted to execute an operation during a period when Users were aware that Company's system was functioning incorrectly due to maintenance or technical problems;
3. Due to circumstances beyond the control of the Company (such as natural disasters or technical problems, for example, with an Internet connection), the operation could not be carried out properly, despite the best efforts of the Company

5. Company will not be responsible for any incomplete/failed operations if User does not report such incomplete/failed operations to Company within 360 calendar days from the date when he/she became aware of the incomplete/failed operation.

12. Disputes and dispute resolution

1. Company understands that disputes may arise between Company and User in connection with the services provided. Company's goal is to resolve disputes in an effective manner, as a result of which Users will be satisfied with their cooperation with Company as a whole. Company also understands that some disputes are difficult to resolve without the participation of an independent party, and in certain cases – without using a special dispute resolution mechanism.

2. If you have any claims related to your account, contact Customer Support and report the problem. Customer support service reviews claims upon your request. You can also file a complaint to Customer Support by e-mail. Detailed information about the procedure for reviewing applications is published on Company's website.

3. In any way you contact Customer Support, you will need to state the essence of the problem in writing.

4. If you have received a response from Customer Support Service, but you believe that the complaint requires additional consideration, you can ask Customer Support Service to forward your complaint to a regulatory compliance department.

5. Company complies with the directives of local regulatory bodies regarding business activities.

6. Following these complaint procedures will not affect your legal rights.

7. Governing law and jurisdiction. This Agreement and the relationship between Company and Users are governed by the laws of Dubai, UAE.

8. Any inaction of Company in connection with User's violation of the terms of this Agreement should not be interpreted as a waiver of Company's right to take action in case of similar or subsequent violations.

9. If it is considered that Company has violated the Agreement, which has led to losses or direct damage to User, its liability will have the following limits:

1. Company, its associates, branches and other affiliated structures acting on its behalf, as well as persons with whom Company has concluded contracts, will in no case be liable for any of the following types of losses or damages in connection with this Agreement or otherwise:

• Any loss or damage, directly unrelated to Company's violation of this Agreement; or
• Any lost profits, profits, business activities, intangible assets, contracts or savings, even if Company has been informed of such a possibility; or
• Any loss or distortion of data; or
• Any loss or damage directly related to Company's violation of this Agreement.

1. Сompany provides Services to User in strict accordance with this Agreement, without any additional guarantees. Company does not guarantee uninterrupted or secure access to any Services, nor is it responsible for any delay or inability to provide services under this Agreement. Company may carry out maintenance and/or repair of its systems, while User's access to the account may be limited. Company assumes that such scheduled or unscheduled maintenance may continue for a certain period of time, while access to Company's system (including its website) will be limited.
2. Company cannot guarantee that the parties entering into a transaction through the Company's services will comply with its terms. Company also does not exercise any control over products and services that are paid for through the Company's services.
3. Company will make every possible effort to ensure the accuracy of the information it provides to Users. However, Company cannot guarantee the accuracy of such information, and we warn and urge Users not to rely solely on such information in the decision-making process. User is responsible for knowing and complying with any laws, rules and regulations of his/her specific jurisdiction that may apply to him/her in connection with the use of Service.
4. Users agree to protect and release from liability Company, its employees, branches, associates and any persons authorized to act on its behalf for any claims or demands (including legal costs) that may be brought by or against any third party as a result of violation of this Agreement by Users, their employees branches, associates or agents, as well as violations by them of any applicable law and/or rules of use of Services.
5. This Agreement (including any Application) as a whole forms the basis of the relationship between Company and its Users. If any provision of this agreement is found to be invalid or unenforceable, it shall be deemed inapplicable to the extent necessary to eliminate such invalidity or unenforceability, and all other provisions of this agreement will remain in full force and effect.

13. Software Rights and Licenses

1. Company and, where applicable, its Licensors grant you a limited, non-exclusive license to use any software applications that you access or download to your personal computer, mobile device or platform, including Application Programming Interface (API) or Developer tools, as appropriate. In accordance with this Agreement, this software is intended for your personal use only. Transfer of your rights to use or lease this software is strictly prohibited. Any such action serves as the basis for termination of this Agreement, and may also cause further lawsuits by Company. In addition, you agree not to modify, reproduce, adapt, distribute, display, publish, decompile, broadcast, or otherwise attempt to recreate any source code derived from software product. You hereby confirm that all rights to this software belong exclusively to Company or a third-party provider, depending on the contractual relationship between Company and third-party provider.


14. Our website and mobile application

1. General information. The content of our website and mobile application is provided solely for informational purposes. Any information should not be considered as advice or a guide to action. You need to consult with a professional consultant before executeing certain actions or refusing to execute such actions based on the information contained on the website or in the mobile application. Although we take appropriate and reasonable measures to keep the information on the site or in the mobile application up to date, we do not provide any representations or warranties (either express or implied) that any information on the site or in the mobile application is complete and up-to-date.

2. Changes on the website and in the mobile application.

1. We have the right to update or modify our website and mobile application from time to time when products, business priorities and customer needs change.
2. We will strive to send you timely notifications of upcoming major changes, reserving the right to suspend the operation of the website or mobile application.
3. Our website and mobile application are provided free of charge.
4. We do not guarantee that our website, mobile application or any content will be available at any time and will work smoothly. We have the right to suspend, terminate or restrict the operation of our website (in whole or in part) for operational reasons or due to business necessity. We will strive to inform you in a timely manner about possible suspensions in the operation of the site.
5. You are obliged to ensure that all persons who access our website or mobile application using your Internet connection are familiar with and accept the terms of this User Agreement.

3. We are not responsible for the content of websites linked to which may be present on our site.

If our site contains links to third-party websites and information resources, then such links are for informational purposes only. Psresence of such links should not be interpreted by you as our confirmation of the accuracy of the information posted on these links. We are not responsible for and do not control the content of third-party websites and information resources.

15. Reparation

1. User guarantees reparation at the request of Company, of any costs incurred in issuing electronic money or ancillary services, including, without limitation, (i) violation of this Agreement by User; or (ii) false or misleading information provided by User to Company.


16. General provisions

Non-waiver: the inability or delay of either party in using the rights or remedies established by this Agreement or the law does not constitute a waiver of this (or any other) right or legal remedy and does not prevent its further use. No one-time or partial use of such right or legal remedy shall prevent or restrict the further use of this (or any other) right or legal remedy and shall not be interpreted as a waiver of a right or claim in connection with any subsequent violation or non-performance of the same or any other provisions of this Agreement.

Completeness of the Agreement: This agreement, its annexes and all its constituent documents and documents referred to in this agreement constitute the entire agreement between the parties with respect to its subject matter, replace and cancel all previous agreements, agreements and discussions between them, both oral and written, with respect to this subject matter.

Divisibility: All provisions of this agreement are independent and divisible. If any provision of the Agreement (or part of any provision) is found by a court or other authority of competent jurisdiction to be invalid, unenforceable or illegal, this does not detract from the validity of this agreement and does not affect the other provisions that remain in force.

A person who is not a party to the Agreement has no right to demand fulfillment of the terms of the Agreement.

Regulatory legislation: Agreement and all matters arising in connection with it, as well as any dispute arising between parties in connection with the Agreement, shall be governed by and interpreted in accordance with the laws of Dubai, UAE. Competent courts of Dubai, UAE, have exclusive jurisdiction over legal proceedings arising out of or related to this Agreement, and the parties to this Agreement unconditionally submit to such exclusive jurisdiction. However, this does not deprive the Company of the opportunity to initiate any claim in a court of any other jurisdiction for judicial or similar protection.

Language: When we provide you with a translation of the English version of the agreement, privacy policy or any other document, you agree that the translation is provided only for your convenience and does not change the English version, and you agree that the English version regulates our relationship. Both parties agree to conduct all correspondence related to this Agreement in English. If we send or receive correspondence in another language, this is done only for your convenience and does not constitute a departure from the above or a precedent for further correspondence.

TECTRIX SERVICE DMCC, a company incorporated in Dubai, UAE, with registration number DMCC196324 and registered address at Unit No: BA1170 DMCC Business Centre, Level № 1 Jewellery & Gemplex 3, Dubai, United Arab Emirates.