T&Cs and Privacy Policy

1. Introduction

1.1 The terms and conditions set out in this agreement (as amended in accordance with clause 26 from time to time) (“Terms”) shall apply as between Hermex International Limited (“HERMEX”) and the Client named above or the person named in any document
evidencing an order for Services (as defined in clause 2.1 below) or Payment Transactions (as defined in clause 6.1 below)to any such order, howsoever placed, where that order is accepted (whether expressly or impliedly, verbally or in writing) by
HERMEX (“Contract”) and shall prevail in the event of any inconsistency with the terms of any other agreement between the parties. 1.2 These terms contain three parts: 1.2.1 Part 1: Forwards & Spot Contracts (this Part applies to the provision
of our unregulated forwards and spot contract business); 1.2.2 Part 2: Payment Services (this Part applies to the provision by us of money remittance services); 1.2.3 Part 3: General Provisions (this Part applies to all services offered by us to you).
1.3 Should you need to contact us about any aspect of these Terms or make any notification in accordance with these terms please make such notification by writing in English to: Hermex International Ltd www.hermexfx.com Hermex International Ltd 13-14
Basinghall Street, EC2V 5BQ +44 (0)20 3026 4030 forex@hermexfx.com 1.4 These Terms shall come into force on the date set out above. 1.5 Any reference to HERMEX or the Client in these Terms shall be deemed to include that party’s officers, employees
and/or agents. 1.6 References to clauses are to the clauses and sub clauses of these Terms and the headings in these Terms are for convenience only and shall not affect the interpretation. 1.7 Any obligation in these Terms on a person not to do something
includes an obligation not to agree, allow, permit or acquiesce in that thing being done.

2. The Services

2.1 HERMEX’s services shall be limited to providing facilities for the sale, purchase and physical delivery of foreign currencies for use in connection with a trade or business or for other commercial (but not, for the avoidance of doubt, investment)
purposes only (the “Services”). Such Services include, without limitation to the foregoing, forward contracts, forward time option contracts, flexible forward contracts and limit orders. A description of the characteristics of these different forms
of contracts is contained on our website (www.hermexfx.com). 2.2 HERMEX shall record all Contracts in writing and send a copy to the Client at the time the Contract is concluded. 2.3 HERMEX shall unless otherwise agreed, contract as principal with
the Client for the delivery of the currency in question and deal with the Client on an execution only basis. 2.4 HERMEX may from time to time to time provide the Client with information concerning the foreign exchange markets, but will not at any
time offer advice to the Client on taxation, investment products or markets or the merits or otherwise of any currency transaction. The Client accepts that any such information does not constitute advice and does not form part of the Services and
agrees that it shall rely purely on its own judgement when entering into any Contract. 2.5 In providing the information referred to in clause 2.4 above, HERMEX makes no warranty or representation as to its accuracy, and hereby excludes to the fullest
extent possible any and all losses suffered by the Client in relying on such information. 2.6 The Client hereby warrants and represents that all orders are placed in pursuance of the Client’s usual trade or business; that the Client is not acting
for any third party; and that the transactions are for commercial purposes (in the case of businesses) and private purposes (in the case of individual clients) and, as such, do not amount to futures contracts under article 84 of the Financial Services
& Markets Act 2000 (Regulated Activities) Order 2001. 2.7 Each order shall stand as a separate Contract and the Client will take physical delivery of the purchased currency upon payment of the full amount of the sold currency as specified by HERMEX
on the occasion of each Contract.

3. Instructions

3.1 HERMEX may, at its absolute discretion, accept or refuse (without attributing any reason or being liable for any claims, loss of profits, loss of goodwill or damage (whether direct, consequential or anticipated) occasioned as a result) any order for
Services or any instruction relating to Services from any officer, employee or agent of the Client. Where only certain named personnel are authorised by the Client to place orders and give instructions to HERMEX, an “authorised personnel” list shall
be annexed to these Terms, and where such a list is annexed, HERMEX shall only deal with those authorised persons. 3.2 Orders may be placed and instructions may be given orally, in writing (by post or by electronic mail or facsimile (“electronic transmission”))
or through the HERMEX website at www.hermexfx.com, save that in the case of an oral order or instruction, HERMEX may at any time and for any reason (including, without limitation, to clarify an ambiguous order or instruction, to close the Client’s
account and/or to remit the Client’s funds to a third party), require the Client to confirm such order or instruction in writing in such form as HERMEX may specify from time to time. Alternatively, HERMEX may (but will not be obliged to) confirm the
order or instruction to the Client in writing (by post or by electronic transmission), which shall be final and conclusive evidence (in the absence of manifest error) of the order or the instruction. 3.3 Once an order or instruction has been accepted
by HERMEX it can be rescinded, withdrawn or amended by the Client only with the express written consent of HERMEX. 3.4 HERMEX will issue a contract note in respect of each Contract entered into with the Client. The contract note may be sent to the
Client by post or by electronic transmission and will not prejudice in any way the rights of either party. 3.5 Unless the Client notifies HERMEX of any error or omission within 24 hours of receipt of any contract note issued by HERMEX (time being
of the essence), the Client shall be deemed to have agreed and accepted the contents of that contract note and such contract note will be incorporated into the Contract and will be legally binding on the Client. 3.6 On accepting the first order from
a new Client, HERMEX will set up an account for that Client and may (at its absolute discretion and without any obligation to do so) set up separate accounts for separate Contracts for both new and existing clients. 3.7 For each account that HERMEX
operates in the Client’s name, HERMEX may, but shall not be obliged to, send the Client a monthly statement detailing the transactions that took place during the preceding calendar month.

4. Financial provisions

4.1 The Client shall facilitate payment of cleared funds into HERMEX’s Safeguarded Segregated Client Account , held at a bank chosen by HERMEX (the “transaction account”) to the value of the currency to be sold by the Client (the “sale currency”) in order
to secure payment. HERMEX may, in its absolute discretion and without assigning a reason there for, request a deposit from the Client in respect of any order for currency, in which case the deposit shall be payable immediately into the transaction
account. 4.2 The Client shall pay any outstanding amount of the sale currency into the transaction account in cleared funds prior to the specified value date set out in the contract note (being the date on which the currency becomes available and
the Client becomes obliged to pay). 4.3 Any funds held in a transaction account will be held as collateral for the purpose of securing or otherwise covering present or future actual or contingent or prospective obligations owed by the Client to HERMEX
or counterparty to a Contract. 4.4 In respect of any type of forward transaction HERMEX reserves the right to transfer any deposit paid into the transaction account to a non-segregated account held with any counterparty of HERMEX for the purpose providing
margin to cover forward transactions entered into by the Client. Monies held in any such non-segregated account shall not be subject to the same protections as monies held in the Safeguarded Segregated Client Account 4.5 HERMEX shall not be required
to settle any Contract or to pay to the Client, or to the Client’s order, any amount in respect of such Contract without HERMEX first having received from the bank where the transaction account is held or from any broker or dealer with or through
whom HERMEX executes currency transactions (the ‘broker’) notice to the effect that the amount of sale currency due and payable by the Client to HERMEX in respect of the Contract, has in fact been received. 4.6 Without prejudice to and notwithstanding
the rights of HERMEX set out in clause 6 below, where HERMEX has not received payment of any sale currency that is due in full from the Client, HERMEX may (but shall not be obliged to) delay any Contract between HERMEX and the Client until HERMEX
has received the sale currency, at which time HERMEX may sell such sale currency at the rate of exchange prevailing on the actual date of sale. 4.7 All payments due from the Client to HERMEX under these Terms shall be made in full without any set-off,
counterclaim, deduction or withholding whatsoever. HERMEX may deduct from any payment to be made to the Client such sum. As HERMEX is required by law to deduct or is otherwise obligated to pay in respect of taxation liabilities, broker transfer charges,
the Client’s failure to pay the sale currency due or any other costs incurred in the performance by HERMEX or non-performance (including, but not limited to, non-payment) by the Client of that Contract or any other contract between HERMEX and the
Client. 4.8 Banks have specified times of cut off for the receipt and dispatch of electronic payments. HERMEX accepts no responsibility or liability for any delay in onward payment attributable to the late arrival of funds or instruction of payment
relative to the cut off times of the designated bank. 4.9 Hermex will endeavour to execute transactions based on the exchange rate agreed when placing an order. However, Hermex reserves the right to execute transactions using an exchange rate that
is different to the exchange rate that had been agreed when placing an order. 4.10 In the event of any significant exchange rate fluctuations occurring between the date of Contract and the value date HERMEX may require the Client to provide additional
funds to maintain the value and level of the deposit at the stipulated percentage rate on the original contract note. Such funds shall be paid by the Client immediately and in full. Such funds relating to forward purchase contracts will be used as
collateral (deposit) and deposited into a separate segregated deposit account held for forward contracts. 4.11 The Client undertakes warrants and represents that all funds to be provided by the Client will be beneficially owned by the Client and will
not be subject to any charge, lien or other encumbrance, and the Client will not create or permit the creation of any charge, lien or other encumbrance over any funds so provided.

5. Limitation of liability and indemnity

5.1 Nothing in this clause 5 seeks to limit or exclude HERMEX’s liability to the Client for: any liability which cannot be excluded or limited under applicable law including without limitation fraud or fraudulent misrepresentation. 5.2 Subject to sub
clause 5.1 above and sub clause 5.3 below, HERMEX’s total aggregate liability to the Client in contract, tort or otherwise (including for negligence, breach of statutory duty and wilful default) for any loss arising out of or in connection with any
Contract shall be limited to damages of an amount equal to the direct loss incurred out of or in connection with such Contract, provided that HERMEX’s liability shall in no circumstances exceed the value of currency as at the Contract date to be purchased
by HERMEX from the Client. 5.3 HERMEX shall not under any circumstances be liable to the Client for loss of profits (whether direct or indirect) or loss of goodwill, anticipated savings, business opportunity or any type of special, indirect or consequential
loss (including loss or damage suffered by the Client as a result of an action brought by a third party) arising in connection with any Contract, even if such loss was reasonably foreseeable. 5.4 The Client will, on demand by HERMEX, indemnify HERMEX
and keep it indemnified against all losses, claims, proceedings, expenses, damages and costs (including reasonable legal costs) of any nature incurred or suffered by HERMEX including any costs suffered by HERMEX in covering, reducing or eliminating
its risk, howsoever arising out of or in connection with any breach by the Client of these Terms.

6. Default

6.1 In addition to the rights of HERMEX in clause 4.5 above, HERMEX shall have the right to close any Contract by entering into an equal but opposite contract or, at its absolute discretion, by any other actions deemed necessary without any further liability
for any loss or otherwise in the event of any of the following: 6.1.1 Any default of payment by the Client; 6.1.2 Any other material breach by the Client of any Contract; 6.1.3 the Client entering into any form of bankruptcy or insolvency procedure
(except for the purposes of solvent amalgamation or reconstruction and in such manner that the company resulting there from effectively agrees to be bound by or assume the obligations imposed on that other party under these Terms) or is unable to
pay its debts as they fall due (as defined in section 123 of the Insolvency Act 1986); 6.1.4 it becomes unlawful for HERMEX to give effect to any or all of its obligations to the Client under these Terms or where HERMEX or the Client is ordered to
close out a Contract by any governmental or regulatory body or by order of a court of competent jurisdiction; or 6.2 Where a Contract is closed out by HERMEX in accordance with paragraph 7.1, a contract note will be issued and dispatched to the Client
detailing the specifics of the closure and any loss suffered by HERMEX as a result of such closure. In the event that HERMEX suffers any loss as a result of such closure, the Client will indemnify and keep indemnified HERMEX in respect of that loss
and HERMEX shall be entitled to deduct that loss in accordance with clause 4.6 above.

7. Introduction & Charges

7.1 This Part is applicable when you use our money remittance service to transfer money to a third party through us (“Payment Transaction”). Hermex International Limited is authorised by the Financial Conduct Authority under the PSRs (534547) for the
provision of money remittance. 7.2 We draw your attention to clause 1.3 in these Terms regarding the method and language of communications, which shall apply to the provision of payment services. 7.3 We do not charge any commission for the purchase
or sale of foreign currency under properly executed Contracts in accordance with these Terms. You acknowledge that the exchange rate which we offer you under a Contract will not be the same as the one we obtain for ourself with market counterparties.
We derive a profit from the difference between these two exchange rates. 7.4 The following charges will be incurred by you (payable in advance) for the following methods of confirmation and/or transfer of funds: 7.4.1 Investigation Charge – £25 per
investigation. This is payable when a bank or payment services firm that you request us to transmit money to subsequently ask us to provide them with additional information. 7.4.2 Additional International Payment – £10 per recipient which is payable
when a Payment Transaction involves payments being made to more than one recipient. 7.4.3 Returned Payment Fee – £50 per payment when such payments are returned to us by an intended recipient’s bank or payment services firm in order to cover our reasonable
administrative costs associated with dealing with such payments. 7.4.4 Exchange rate charges imposed on us by our bank when if you incorrectly send a payment to an account of ours which is denominated in a different currency from your intended currency
and which consequently leads to an exchange rate charge when the currency is converted by our bank as set out in clause 13.1.

8. The Corporate Opt Out

8.1 Clause 8.2 applies to you only if you are not: 8.1.1 a consumer (a person acting for purposes other than a trade, business or profession); 8.1.2 a micro-enterprise (as defined in Article 1, and 2(1) and (3) of the Annex to Recommendation 2003/361/EC
(in summary, a micro-enterprise is a business which has fewer than 10 employees or a turnover not exceeding EUR 2 million); or 8.1.3 a charity with annual income of less than £1 million. 8.2 You agree that the following provisions of the Payment Services
Regulations 2017 (SI 2017/752) (the “PSRs”) and any other provisions of any law in any other jurisdiction implementing the equivalent articles of the Recast Payment Services Directive (2015/2366/EC) (“PSD 2”) do not apply to this Agreement: 8.2.1
Part 6 (Regulations 40 – 62 inclusive) PSRs (Title III PSD 2) (requirements as to the provision of information); and 8.2.2 the following regulations of Part 7 (Rights and Obligations in relation to the provision of payment services) PSRs (Articles
62(1), 64(3), 72, 74, 76, 77, 80 and 89 PSD 2: (i) 66(1): charges (refusals, revocations, incorrect unique identifiers). We will instead charge you for the fulfilment of our obligations under clauses 10.5, 16, 18.3 of these Terms; (ii) 67(3) and (4)
& 83: withdrawal of payer consent and revocation. Once given, you may not withdraw your consent to a Payment Transaction or revoke a Payment Transaction and clause 16 of these Terms do not apply to your agreement with us; (iii) 75: evidence of
authentication and execution of transactions. The onus of proving that the payment transaction was either unauthorised or incorrectly executed in clauses 11 and 12 of this Agreement lies instead with you rather than with us; (iv) 77: Payer’s liability
for unauthorised transactions. You, instead of us, are liable for all losses in respect of unauthorised Payment Transactions listed in clause 12 of these Terms; (v) 91: non-execution or defective execution of transactions initiated by payer. We shall
not be liable to you for the correct execution of a Payment Transaction and clause 18 of these Terms shall not apply; and (vi) 94: liability of payment services provider for charges/interest. We are not liable for charges and interest incurred as
a result of the non-execution or defective execution of a Payment Transaction.

9. Receipt of Payment Orders

9.1 An instruction to make a Payment Transaction (the “Payment Order”) will be received at the time that we receive and accept the Payment Order. Any acceptance of a Payment Order by us will be subject to and conditional on completion to our reasonable
satisfaction of relevant due diligence procedures. 9.2 Payment orders received after 2:30pm on a Business Day (ie any day other than a Saturday, Sunday or a national public holiday where banks are open for business in the UK) or on a non-Business
Day will be deemed to have been received by us on the following Business Day. 9.3 You may instruct us to execute a Payment Order on a specific future date. We will only execute the Payment Order if you have provided us with adequate funds. 9.4 You
may request details about the maximum execution time for the transaction, which may vary depending on the currency in question, and the charges payable (including, where applicable, a breakdown of those charges).

10. Consent

10.1 A Payment Transaction will be considered as authorised if you have given your consent to the execution of the Payment Transaction. 10.2 For individual transactions, “consent” for these purposes means that consent given by email which will be followed
by a telephone call from us to you. Consent will only be deemed to have been given by you following the successful completion by us of a mandatory call back to you to authenticate the proposed transaction. 10.3 For a series of transactions (e.g. for
standing orders), your consent to the transaction shall be given in writing in whichever form that we request, and verified by your signature followed by the successful completion of a mandatory call back from us to you. 10.4 Where no such consent
has been given (or where consent has been withdrawn in accordance with clause 16.2 of Part 2 of these Terms), the Payment Transaction will be considered as unauthorised. 10.5 If a payment transaction is refused, we shall inform you immediately within
the limits of applicable laws and where we are authorised to do so and, if appropriate, we shall explain why we refused to make the Payment Transaction and the procedure for correcting any factual errors that led to the refusal.

11. Correcting Unauthorised or Incorrectly Executed Payment Transactions

11.1 If you realise that an unauthorised or incorrectly executed Payment Transaction has been carried out, you must notify us without undue delay and, in any event, within 13 months of the debit date. Such notification should be made in accordance with
clause 1.3 of these Terms. If you fail to notify us within the 13 month time period you may not be entitled to have any errors corrected. 11.2 You shall bear all losses caused by unauthorised payment transactions if those losses result from a fraudulent
act on your part or gross negligence in carrying out your obligations to use any telephone arrangements or passwords (“Security Instrument”) in accordance with the Terms governing their use and to inform us without delay as soon as you becomes aware
of the loss or theft or of any unauthorised use thereof. 11.3 If, in accordance with clause 11.1, you notify us of an unauthorised Payment Transaction we will immediately (i.e. by the end of the next Business Day following your notification to us)
refund the amount of the unauthorised Payment Transaction. 11.4 If, in accordance with clause 11.1, you notify us of an incorrectly executed Payment Transaction we will investigate and without delay will refund the amount of the non-executed or defective
Payment Transaction immediately. 11.5 Where we consider that there is evidence to suggest you have acted fraudulently or have deliberately or grossly negligently failed to comply with your obligations in relation to the Security Instrument (set out
in clause 19 below), we reserve the right to investigate the claim before making any refund. If we decide to investigate the claim before making a refund, we will carry out our investigations as quickly as possible. Nothing in this clause 11 affects
our right to investigate the circumstances after a refund has been made. If we subsequently determine that a payment transaction was authorised (or you have deliberately or with gross negligence failed to comply with the obligations in relation to
the Security Instrument in clause 19), we reserve the right to reverse any refund previously made, on giving you reasonable notice of our intention to do so.

12. Your Liability for Unauthorised Payment Transactions

12.1 For lost and stolen Security Instruments or misappropriation where you have failed to keep any personal security feature, for example any PIN or password, safe, your liability for any unauthorised Payment Transactions will be capped at £35 per each
instance of loss, theft or misappropriation (not per Payment Transaction). You will not liable for any losses: (a) arising after you have notified us that the Security Instrument or your access details to any Security Instrument have been lost, stolen
or misappropriated (in accordance with clause 19); (b) if we have not provided a means for you to make the notification to us referred to in clause 19 (subject to the force majeure provisions in clause 21); (c) if we have not authenticated any of
your Payment Transactions in accordance with our obligations under regulation 100 of the PSRs; or (d) where the Security Instrument has been used in connection with certain distance contracts (other than excepted contracts), as defined in the Consumer
Contracts (Information, Cancellation and Additional Charges) Regulations 2013 . 12.2 Where any unauthorised Payment Transaction arises from you acting fraudulently, or you intentionally or with gross negligence fail to comply with the obligations
in clause 19 Security Instruments – Your Obligations, you will be liable for all losses (including our losses).

13. Exchange Rates

13.1 Where you transmit money for us to make a payment on your behalf but you incorrectly send a payment to an account of ours which is denominated in a different currency from your intended currency and where that consequently leads to an exchange rate
charge being imposed by our bank for converting the money to the correct currency you will be responsible for that charge. As an example, if you place UK Sterling into our Euro denominated account when you intend for us to make a payment in UK Sterling
the money deposited in our Euro account will have to be transferred by our bank to our UK Sterling account which will lead to an exchange rate loss and charges which will be passed to you.

14. Execution of Payment Orders – Time Limits and Value Dates

14.1 When you make a payment from your Current Account: 14.1.1 in Euros; or 14.1.2 in UK Sterling and both the payer and payee are based in the UK (a “UK National Sterling Transaction”); or 14.1.3 that involves one currency conversion between UK sterling
and euros and that currency conversion is carried out in the UK (and where the Payment Transaction is being made to a payee in another EEA state, the amount transferred is denominated in euro), to a payee whose payment services provider (e.g. bank)
is located in the EEA, we will execute the Payment Transaction on the same Business Day if received before 2.30pm, or on the following Business Day if received after 2:30pm or on a non-Business Day, and shall ensure that the payment amount will reach
the payee’s bank no later than the following Business Day. 14.2 When you make a payment: 14.2.1 in a currency of an EEA state other than Euros; and 14.2.2 which is not a UK National Sterling Transaction, to a payee whose payment service provider (e.g.
bank) is within the EEA we will execute the Payment Transaction on the same Business Day if received before 2:30pm, or on the following Business Day if received after 2:30pm or on a non-Business Day, and shall ensure that the amount of the Payment
Transaction will reach the payee’s bank no later than the fourth Business Day following the time we debit the payment amount from your Account. 14.3 For all other payments not covered by clauses 14.1 and 14.2 above, we will execute the Payment Transaction
as soon as we receive the Payment Order but you accept that the execution time for the payment transaction will depend on the regulations governing the functioning of the international payment systems and that we will not be required to comply with
the deadlines set out in clauses 14.1 and 14.2.

15. Funding Your Payment Transactions

15.1 You can only fund your Payment Transactions by transferring cash from a bank account held in your own name. 15.2 When you transfer cash to us for the execution of a Payment Transaction we will, subject to being provided with any anti-money laundering
documentation that we may request in accordance with clause 20, make it available for you to use immediately after we receive it.

16. Cancelling a Payment Order

16.1 When you are the payer you cannot revoke or cancel a Payment Order after it has been received by us. 16.2 You must notify us of any revocation or cancellation of a Payment Order in accordance with clause 1.3 of these Terms. We may ask you to provide
written confirmation of your revocation or cancellation. 16.3 After these deadlines, it is only possible to cancel a Payment Order if this is specifically agreed between us.

17. Transactions with a “Unique Identifier”

17.1 For the purpose of executing a regulated Payment Order, in the case of UK bank payments, in UK sterling, you must provide the sort code and account number of the payee’s account. For payments within the Single Euro Payments Area (or “SEPA”), then
you must provide us with the account number and sort code of the payee in IBAN format, together with the BIC (SWIFT). These are known as the “Unique Identifier”, although we may also request details of the name of the payee, or a reference number/invoice
number for the payment. 17.2 We are under no obligation to check the accuracy of the Unique Identifier given to us by you. If the Unique Identifier provided by you is incorrect, the Bank shall not be liable for the non-execution or incorrect execution
of the Payment Order under clause 18. We shall, however, make reasonable efforts to recover the funds involved in the payment transaction, for which we may charge you a fee.

18. Incorrect or Non-Execution of Payment Orders

18.1 This clause 18 is subject to the provisions in clause 17 regarding Unique Identifiers. 18.2 Where an authorised Payment Order given to us by you or the payee is incorrectly or not executed we will be liable to you unless we can show that: 18.2.1
where you are the payer, the payee’s payment services provider received the amount of the payment transaction on time. 18.2.2 the non-execution or defective execution is the result of a force majeure event (clause 21 of these Terms). 18.2.3 correct
execution of the Payment Order would result in us breaking any provisions of applicable national or EU law or regulation. 18.3 Where we are liable for the incorrect or non-execution of the Payment Order under clause 18.2 above, we will refund the amount
of the Payment Transaction to you without undue delay. This liability will extend to charges and interest incurred by you. 18.4 Where you request us to do so, we will make reasonable efforts to trace and recover an incorrect payment made by us on your

19. Security Instrument Details – Your Obligations

19.1 It is your responsibility to keep your details relating to your Security Instrument and the Security Instrument itself safe. This means that you should take all reasonable steps to avoid the loss, theft or misuse of your account, which we would
expect to include the following: 19.1.1 Not disclosing the Security Instrument details (such as a password or PIN) to anyone except where necessary to complete a Payment Transaction; and 19.1.2 Keeping your Security Instrument details (including passwords)
safe at all times. 19.2 You must immediately inform us of the loss, theft or possible fraudulent use of a Security Instrument issued by us using the following in clause 1.3 19.3 Once we receive a notification from you that your Security Instrument has
been lost/stolen or misappropriated, we shall prevent all further use of the Security Instrument.

20. Anti-Money Laundering

20.1 It is your responsibility to promptly supply us with all information and documentation which we may ask you for at anytime to enable us to comply with any legal requirements on us relating to our services including by the Money Laundering Regulations. This process may require sight of certain documentation to verify the identity and place of residence of the Client. We may also request that the Client inform us how any currency being exchanged was obtained/accumulated. If the Client provides false or inaccurate information and we suspect fraud or money laundering we will record this. We will not implement any transactions until our verification requirements have been met. We take no responsibility for any delay where money laundering verification is outstanding. In circumstances where sufficient verification is not received in a timely manner after we have received completed applications, the application(s) and any monies may be returned to the Client.

21. Force majeure

21.1 HERMEX shall not be deemed to be in breach of these Terms or otherwise have any liability to the Client on the occurrence of any:
(a) Abnormal or unforeseeable circumstances beyond HERMEX’s control, where the consequences would have been unavoidable despite all efforts to the contrary; or
(b) Obligations under other provisions of national or EU law or regulation (including, but not limited to, anti-money laundering legislation
(“Force Majeure Event”).
22.2 HERMEX shall notify the Client of the occurrence of a Force Majeure Event as soon as is reasonably practicable following such occurrence.
22.3 Where a Force Majeure Event occurs, HERMEX may (at its option), on the subsistence of such force majeure event for fourteen (14) consecutive days, and will, on the subsistence of such force majeure event for twenty-eight (28) consecutive days, cancel the Contract and refund any sale currency paid under that Contract to the Client. The Client shall not be entitled to compensation in respect of any force majeure event.

22. Duration, termination

22.1 The Client shall be entitled to terminate these Terms forthwith by written notice to HERMEX.
22.2 HERMEX shall be entitled to terminate these Terms by giving the Client two months’ written notice.
22.3 The termination rights given by this clause 22 shall be without prejudice to any other right or remedy of either party in respect of the breach concerned (if any) or any other breach.
22.4 Subject as otherwise provided in the Contract, upon the termination or expiry of these Terms for any reason and following the conclusion of any foreign currency transacted under these Terms, neither party shall have any further obligation to the other save for any rights, obligations and/or liabilities which have arisen under these Terms but have not been discharged prior to termination or expiry of the Contract.

23. Disputes

23.1 The Client shall provide HERMEX with written notice if at any time it is dissatisfied with HERMEX’s performance of these Terms or otherwise disputes the validity or enforceability of it. Without prejudice to their rights under these Terms, HERMEX and the Client shall attempt to resolve the dispute in good faith, save that where the dispute remains unresolved for a period of 28 days from the date of notice being served on HERMEX, either party may initiate court proceedings.
23.2 To register a complaint, please contact the Compliance Officer in writing at 13-14 Basinghall Street, London, EC2V 5BQ or by telephone on 020 3026 4030. We will acknowledge receipt of the complaint and will send you a copy of our complaints handling procedure. We will investigate the compliant, obtaining evidence and information about the circumstances as may be required. We may also ask you for further information if we think this is necessary, and may forward your complaint to a third party where we believe that they may be jointly or solely responsible for the matter complained about. We aim to resolve complaints at the earliest possible opportunity, but will (unless you have accepted our earlier response) formally respond to you within eight weeks of receiving your complaint or within 15 Business Days in the event that your complaint relates to a Payment Transaction which may in exceptional circumstances be extended to 35 Business Days. This will either be (i) a “final response”, setting out whether we accept or reject the complaint and whether we will provide any redress, or (ii) a “written response” explaining why we are not in a position to provide a final response and when we expect to be able to provide this. You will be provided with a copy of the Financial Ombudsman Services’ standard explanatory leaflet along with our response. If you are not satisfied with our findings, you may be entitled to refer it to the Financial Ombudsman Service if your complaint relates to a Payment Transaction, subject to certain time limits, unless you are a business, charity or trust with turnover/assets over EUR 2 million or at least ten employees.

24. Notice

Any notice, document or other information (“notice”) to be given by one party to the other under these Terms shall be in writing and shall be deemed to have been duly served if delivered by hand or by first class pre-paid recorded delivery post or sent by electronic transmission to the other party at such postal or electronic address or telecommunications number set out in these Terms or otherwise notified to the other party from time to time. Notice shall be deemed to have been received by the recipient: if delivered personally, when left at the proper address for that party; if sent by first class pre-paid recorded delivery post, at 10.00am on the second business day after posting; or if sent by electronic transmission, simultaneously with effective transmission.

25. Nature of agreement

25.1 Nothing in these Terms shall create, or be deemed to create, a partnership, joint venture or relationship of employer and employee between the parties.
25.2 These Terms, together with any contract note(s) or other documents referred to in these Terms or annexed hereto, contain the entire agreement between the parties and supersede all previous previous arrangements, agreements and understandings between the parties in respect of the Services.
25.3 Each party acknowledges that, in entering into these Terms, it does not rely on any statement, representation, assurance or warranty of any person (whether party to these Terms or not) except as expressly provided herein, and that all conditions, warranties or other terms implied by statute or common law are hereby excluded to the fullest extent permitted by law.
25.4 The Client shall not, without the prior written consent of HERMEX, assign, transfer or subcontract all or any of its rights or obligations under the Contract.
25.5 These Terms do not confer any rights on any person or party (other than the parties to these Terms) under the Contracts (Rights of Third Parties) Act 1999.
25.6 It is intended that these Terms shall be reasonable as between HERMEX and the Client having regard to the nature of them, but if any term of these Terms (or any part of any term) is found to be invalid or unenforceable, that term or part term shall to the extent required be deemed to be severed from and not affect nor impair the validity or enforceability of any other section of these Terms and the parties shall use all reasonable endeavours to replace that term or part term with a valid and enforceable substitute term or part term that gives effect (in so far as possible) to the intended meaning behind the severed provision(s).

26. Variation

26.1 HERMEX may vary these Terms by giving the Client two months’ notice.. Such changes shall be deemed to have been approved if the Client does not object to them by notifying HERMEX of its objection to the change. The notice of the change will also set out what will happen if the client does not object to the change

27. Data Protection

HERMEX is registered under the Data Protection Act. Information provided by the Client may be held, processed, disclosed and used by ourselves, professional advisers and any associated companies in servicing our relationship with the Client. However, strict confidentiality will be maintained at all times. It is understood that, unless the Client notifies us otherwise, the Client agrees to the storage, use and disclosure of such information. This information may be disclosed to third party product providers in the course of providing our analysis and servicing of our relationship with the Client. No information will be passed to another party without the Client’s prior consent unless we are legally obliged to do so. The Client also agrees that for the purposes described above data may be transferred to countries outside the European Economic Area (EEA). We may use and analyse the Client’s data, including the nature of transactions, to provide the Client with information by post, telephone fax or e-mail to service and update the Client, as well as informing the Client of new opportunities. To be excluded from these services, the Client should write to us at 13-14 Basinghall Street, London, EC2V 5BQ. Please be aware that telephone calls may be recorded and possibly monitored.

28. Governing Law and Jurisdiction

These Terms and any dispute or claim arising out of or in connection with them or the subject matter, whether of a contractual or non-contractual nature, shall be solely governed by and construed in accordance with the laws of England and Wales, and each party hereby submits to the exclusive jurisdiction of the courts of England and Wales.

29. Privacy Policy

This Privacy Policy governs the manner in which Hermex International Ltd collects, uses, maintains and discloses information collected from users (each, a “User”) of the www.hermexfx.com website (“Site”). This privacy policy applies to the Site and all products and services offered by Hermex International Ltd.Personal identification information
We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, register on the site, place an order, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, mailing address, phone number. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities.Non-personal identification information
We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service providers utilized and other similar information.

Web browser cookies
Our Site may use “cookies” to enhance User experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

How we use collected information
Hermex International Ltd may collect and use Users personal information for the following purposes:
– To improve customer service
Information you provide helps us respond to your customer service requests and support needs more efficiently.
– To personalize user experience
We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.
– To improve our Site
We may use feedback you provide to improve our products and services.
– To process payments
We may use the information Users provide about themselves when placing an order only to provide service to that order. We do not share this information with outside parties except to the extent necessary to provide the service.
– To send periodic emails
We may use the email address to send User information and updates pertaining to their order. It may also be used to respond to their inquiries, questions, and/or other requests. If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related product or service information, etc. If at any time the User would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.

How we protect your information
We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.
Sensitive and private data exchange between the Site and its Users happens over a SSL secured communication channel and is encrypted and protected with digital signatures.

Sharing your personal information
We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above. We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes provided that you have given us your permission.

Changes to this privacy policy
Hermex International Ltd has the discretion to update this privacy policy at any time. When we do, we will post a notification on the main page of our Site. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your acceptance of these terms
By using this Site, you signify your acceptance of this policy and terms of service. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

Contacting us
If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us at:
Hermex International Ltd
Hermex International Ltd,  13-14 Basinghall Street, EC2V 5BQ
+44 (0)20 3026 4030
This document was last updated on January 12, 2018

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