Date of last revision: 21st of February, 2024
WEBSITE TERMS OF USE
BEFORE USING OR REGISTERING ON THE WEBSITE, YOU MUST READ THESE TERMS OF USE CAREFULLY AND BY USING THE WEBSITE YOU EXPRESSLY AGREE TO ACCEPT THEM. IF YOU DO NOT ACCEPT THESE TERMS OF USE, YOU MAY NOT USE THE WEBSITE AND/OR THE SERVICES.
1. About Valyuz
1.1. Valyuz, UAB, a private limited liability company, established and operating under Lithuanian law, legal entity code 304782929, Correspondence address: Konstitucijos ave. 7, Vilnius, Lithuania; Registered office address: Gedimino ave. 44A-201, Vilnius, Lithuania, is an electronic money institution authorized and supervised by the Lithuanian financial supervisory authority the Bank of Lithuania, legal entity code 188607684, address Gedimino st. 6, Vilnius, the Republic of Lithuania (webpage: www.lb.lt); in accordance with the Law on Electronic Money and Electronic Money Institutions of the Republic of Lithuania. You can review Valyuz EMI license here.
2. Definitions and Interpretation
2.1. Definitions
2.1.1. The following definitions when used in these Terms of Use have the following meanings:
2.1.1.1. Account or Valyuz Account has the meaning of the account created by Valyuz to the Client;
2.1.1.2. Electronic money has the meaning of electronically stored value corresponding to the par value of the funds stored in Valyuz clients’ bank account represented by a claim against Valyuz.
2.1.1.3. Client has the meaning of an individual or legal entity holding Valyuz Account;
2.1.1.4. Privacy Policy has the meaning of Valyuz policy governing the processing of personal data published on the Website;
2.1.1.5. Services has a meaning of any of the services, functions or features both collectively and individually offered on the Website and / or Valyuz App and which are specified in Art. 4 of these Terms of Use;
2.1.1.6. Terms of Use has the meaning of these Terms of Use published on the Website;
2.1.1.7. Token App has the meaning of the mobile application accessible through your mobile app that generates passwords required to authorize your payments (you can find Token App here );
2.1.1.8. Valyuz has the meaning prescribed in Art. 1.1 of these Terms of Use;
2.1.1.9. App or Valyuz App has the meaning of the mobile application accessible through your mobile phone in order to access Valyuz Account and to use the Services (you can find our App here: Google Play, Apple iTunes);
2.1.1.10. Website or Valyuz website has the meaning of the website available at www.valyuz.com;
2.1.1.11. We has the meaning of Valyuz;
2.1.1.12. You has the meaning of the Client.
2.2. Interpretation
2.2.1. References to Sections and Articles, unless stated or the context required otherwise, shall be construed as references to Sections and Articles of these Terms of Use.
2.2.2. References to legal acts (if any) shall include references to any amendment, modification, extension, consolidation, replacement or re-enactment of any such legal act.
2.2.3. In these Terms of Use:
2.2.3.1. words importing the masculine gender include the feminine and the neuter and vice versa;
2.2.3.2. words in the singular include the plural and vice versa;
2.2.3.3. references to persons shall include legal persons, unincorporated associations and partnerships, in each case whether or not having a separate legal personality;
2.2.3.4. words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
3. Scope of Terms of Use
3.1. These Terms of Use govern use of our Website as well as opening and use of your Valyuz Account. Together with Valyuz Privacy Policy, agreement regarding provision of Services between you and Valyuz and any other terms and conditions referred to therein or any other document (if any), they constitute legal relationship between you and us. You are advised to print or download and keep a copy of these Terms of Use for future reference. You can always view the current version of the Terms of Use on our Website or contact our Support Service to receive a copy by e-mail.
3.2. Persons that are not registered on the Website will have the opportunity to view and use only some part of the information on the Website and will not have the ability to use the Services. Such persons must in any event comply with these Terms of Use, Privacy Policy and other conditions and rules provided on the Website and all applicable laws.
3.3. Valyuz website and Valyuz App are the means of accessing to the Services and other functionalities referred therein. However, certain Services and functionalities which are accessible through the Website and / or through the App can be facilitated / provided by our partners and this will not constitute the breach of these Terms of Use. Where necessary, you will be informed of this and asked to read and / or to agree to any additional terms and conditions related to such Services or functionalities.
3.4. By accepting these Terms of Use you acknowledge that conclusion of these Terms of Use does not necessarily guarantee you will be entitled to use all Services or functionalities that are or may be accessible via the Website or the App, as in certain cases if you wish to use specific Services or functionalities within the Website and / or the App that are provided by us or by our partners, you may be asked to provide additional information and / or to perform additional actions to access such.
4. Description of Valyuz Services
4.1. To our Client we offer a payment account with a shared or dedicated IBAN. The payment account enables the Client with an extensive range of Services to support the Client’s daily financial operations, including:
4.1.1. Issuance and redemption of Electronic money, as well as services enabling withdrawals from the payment account and all operations required for operating a payment account.
4.1.2. Execution of payment transactions, including international, domestic and local transfers, as well as SWIFT and SEPA payments:
4.1.2.1. execution of direct debits, including one-off direct debits;
4.1.2.2. execution of payment transactions through a payment card or similar device;
4.1.2.3. execution of credit transfers, including standing offers;
4.1.2.4. we will be solely entitled to add other methods of transfer from time to time.
4.1.3. Online currency conversions.
4.1.4. Prepaid debit cards.
4.1.4.1. with prepaid debit card you spend money only when you’ve loaded onto it in advance.
4.2. There may be other functions or features accessible from time to time on our Website or App, which may be provided by us or by our partners (third parties).
5. Valyuz Account
5.1. General
5.1.1. Your Valyuz Account is the payment account which enables you to send and receive payments, as well as use other functionalities attached to your Valyuz Account. Valyuz Account is not a bank account. By accepting these Terms of Use you acknowledge that the Lithuanian deposit guarantee scheme (in accordance with the Law on Insurance of Deposits and Obligations to Investors of the Republic of Lithuania) does not apply to your Valyuz Account. Valyuz strictly adheres to the legal requirements under the European Union law and Lithuanian laws which are designed to ensure the safety and liquidity of the funds deposited for issuance of Electronic money.
5.1.2. Valyuz as electronic money institution operating under requirements of Law on Electronic Money and Electronic Money Institutions of the Republic of Lithuania, is required to implement safeguard measures to protect Clients’ funds. Valyuz has taken the appropriate step of safeguarding your and its other clients’ funds by segregating and placing them in protected clients’ funds bank account. You shall retain the ownership of the funds transferred to Valyuz for issuance of Electronic money. In the unlikely event that Valyuz becomes insolvent, your Electronic money may become valueless and unusable, and as a result you may lose your Electronic money. Nevertheless, funds placed on Valyuz clients’ funds bank account are protected against any claims made by creditors; therefore, you can be assured to suffer no losses should such situation occur.
5.1.3. Electronic money on your Valyuz Account belongs to the person which is registered as the Valyuz Account holder. No person other than the Valyuz Account holder has any rights in relation to the funds held in a Valyuz Account, except in cases of succession. You may not assign or transfer your Valyuz Account to a third party or otherwise grant any third party a legal or equitable interest over it.
5.1.4. You will not earn interest against the Electronic money held in your Valyuz Account.
5.1.5. You are entitled to withdraw funds from your Valyuz account any time by selecting one of the available methods for such a withdrawal in accordance with these Terms of Use and provisions of agreement regarding provision of Services. Your Valyuz Account may be subject to upload, payment and withdrawal limits, depending on your country of residence, the verification status of your Valyuz Account and other factors used by us to determine such limits from time to time at our sole discretion.
5.2. Opening Valyuz Account
5.2.1. To benefit from Valyuz Services you must first open Valyuz Account. You can register with us either online by entering your details on our Website, or offline by reaching to us by e-mail or phone following the instruction provided by us. As part of the registration process you will have to accept these Terms of Use, Privacy Policy and execute agreement regarding provision of Services and any other documents that may be necessary, taking into consideration the scope of Valyuz Services you intend to use, as well as to identify yourself under instructions of Valyuz based on applicable laws regarding prevention of money laundering and terrorist financing, including, but not limited to, filling out Valyuz application form and submitting it along with required documents.
5.2.2. You will have to verify your e-mail address and mobile number in accordance with the instructions provided to you by Valyuz. Failure to do so will result in unavailability of our Services.
5.2.3. In order to use some or all Services, including any or all functionalities or features of the Website / the App, we or our partners may, at our (or partner’s) sole discretion, require you to provide any kind of additional information or to perform any kind of additional actions that we may deem necessary. Any of the functionalities or features available within the Website or the App may be subject to a separate verification process to the extent we (or our partners) deem necessary to assess your eligibility to use the Services or certain parts of such.
5.2.4. To use Valyuz Services as an individual, you must be at least 18 years old to accept the documents indicated in Art. 5.2.1 and use Valyuz Services. We are entitled to set different age limits to different Services and/or products offered by us to the clients at our sole discretion.
5.2.5. You may only open one Valyuz Account unless we approve opening of additional accounts. Upon opening of your Valyuz Account you will be assigned an IBAN number and funds in your Valyuz Account will be denominated in euro. Should you require additional Accounts with assigned IBAN numbers and/or funds in your Valyuz Account to be denominated in other currencies (subject to availability), you have to specify this during the process of opening of the Account with us or, if such a need occurs once after your Valyuz Account has been opened, you should contact our Support Service.
5.2.6. Your corporate Valyuz Account will allow up to 4 (four) signatories who you will indicate during the process of opening of your Valyuz Account. If the need to add signatories to your corporate Valyuz Account will occur later, during the course of relationship with us, and/or you will require adding other special features to your corporate Valyuz Account, you should contact our Support Service. You understand that additional signatories and other features will be subject to the risks posed by you to us.
5.2.7. You may only open Valyuz Account if it is legal to do so in your country of residence. By opening Valyuz Account you represent and warrant to us that opening of your Valyuz Account does not violate any laws or regulations applicable to you. By accepting these Terms of Use you undertake to indemnify us against any losses we incur in connection with your breach of this provision.
5.2.8. By opening Account with us you represent and warrant that you are familiar with legal requirements of the country, tax payer of which you are, including, but not limited to, submission of information to state authorities and compulsory registration with state authorities, as well as your obligations in relation to your status as tax payer. By opening the Account, you represent and warrant that you are fully compliant with such requirements.
5.2.9. All information you provide during the process of opening your Valyuz Account or any time thereafter must be accurate and correct. By registering with the Website, you represent and warrant to us that the information and/or data and/or documents provided to Valyuz is accurate and up to date and will remain so each day until closing of your Valyuz Account. In addition, you undertake to inform Valyuz about any changes in the information and/or data and/or documents provided by you to us. If you fail to comply with the foregoing, Valyuz will not be held liable for the losses suffered by you in relation to such failure.
To ensure that the information and/or data and/or documents are accurate and correct, Valyuz has the right at any time to request you to confirm the accuracy of the information and/or data and/or documents provided by you to us or to provide additional information and/or data and/or documents to support the already obtained information, data and documents.
5.2.10. As an individual you will not be entitled to use your private Valyuz Account for business purposes. If you want to benefit from our Services for business purposes, you will have to request opening of the corporate Valyuz Account in advance. In the event, you are using your private Valyuz Account for business purpose, we will retain the sole right to apply to you the terms and conditions (including, but not limited to, fees) applicable to our business clients and request to open a corporate Valyuz Account with us or terminate your Account or apply other measures available to us. For the purpose of this provision, business related payments will mean any payments received in connection with your business activities.
5.2.11. Valyuz will retain the right to refuse to open Valyuz Account for you or to limit access to certain Services (including certain functionalities or features of such) at its sole discretion without providing you a reason.
5.3. Adding funds to your Valyuz Account
5.3.1. Balance of your Valyuz Account can be replenished by adding funds to your Valyuz Account as indicated below in this Art. 5.3 or by receiving payments from third parties in accordance with these Terms of Use and other contractual provisions applicable to you. If you wish to add funds to your Valyuz Account, you have to initiate payment from the bank account held in your name to your Valyuz Account.
5.3.2. Valyuz will have no responsibility over the funds in transit, i. e., until respective funds have been credited to Valyuz clients’ funds bank account. Electronic money will be issued only to your Valyuz Account, only after the respective amount of funds was credited to Valyuz clients’ funds bank account and only in the amount of funds received to Valyuz clients’ funds bank account.
5.3.3. Valyuz will retain a right to impose additional authorization for adding of funds to your Valyuz Account.
5.3.4. Valyuz will have a right, at its reasonable discretion, impose limits on the amount of the funds you will be allowed to add to your Valyuz Account. We may ask you additional information, data or documents to lift these limits.
5.3.5. You are solely responsible for the accuracy and completeness of the payment details entered for the purpose of adding funds to your Valyuz Account. In no event Valyuz will be held liable for any losses you may suffer as a result on inaccuracy of the payment details.
5.3.6. You understand and accept that your payment services provider may charge you fee for making a transfer to Valyuz clients’ funds account. You understand that Valyuz will not be responsible for the term within which the funds will be credited to Valyuz clients’ funds account.
5.4. Using Valyuz Account
5.4.1. You must take all reasonable steps to keep your Valyuz Account password safe at all times and never disclose it to anyone. Our personnel will never ask you to provide your password to us or to any third party. If you receive a request to disclose your password or other login information anywhere else than on the Website, you must not disclose your password or other login information at any event and must immediately report to us of such incident. Such a report can be made here info@valyuz.com.
5.4.2. We advise you to change your password regularly in order to reduce the risk of a security breach in relation to your Valyuz Account. We also advise you not to choose a password that is easily guessed from information someone might know or gather about you or a password that has a meaning. You must never allow anyone to access your Valyuz Account or watch you accessing your Valyuz Account.
5.4.3. If you have any indication or suspicion of your Valyuz Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised, you are advised to change your password. You must contact Valyuz without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of your Valyuz Account, login details, password or other security features. Any undue delay in notifying us may not only affect the security of your Valyuz Account but may result in you being liable for any losses as a result. If you suspect that your Valyuz Account was accessed by someone else, you should also contact your local police and report the incident.
5.4.4. You must take all reasonable care to ensure that your e-mail account (which you indicated in your Valyuz Account) is secure and only accessed by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your Valyuz Account. In case any of the e-mail addresses registered with your Valyuz Account during the term of our relationship are compromised, you should inform Valyuz without undue delay after becoming aware of this and also contact your e-mail service provider.
5.4.5. You must regularly review your transactions history and in the event of discrepancies, to clarify those with us or report to us, depending on the case may be.
5.4.6. Irrespective of whether you are using a public, a shared or your own computer to access your Valyuz Account, you must always ensure that your login details are not stored by the browser or cached or otherwise recorded. You should never use any functionality that allows login details or passwords to be stored by the computer you are using.
5.5. Sending/receiving payments within your Valyuz Account
5.5.1. You will be able to send/receive payments through your Valyuz Account. To do so, you will have to login into your Valyuz Account and initiate the payment in accordance with the instructions recorded on the Website. You will have to authorize each of the payment initiated by you with a password generated by the Token App.
5.5.2. You take full responsibility to enter correct payment details. In such an event, we completed payment initiated by you on the details provided by you and such payment was received by wrong payee, we will not be held liable for any losses you may suffer therewith.
5.5.3. Sending payments is subject to fees and currency conversion fees depending on the type of payment you make.
5.5.4. If you are willing to send a payment in different currency than your Account with us is denominated, you first have to exchange the respective amount of Electronic money into the required currency and then send a payment. Fees in relation to such payment will be set off in the currency the payment is being made and therefore, you are solely responsible to make sure that the amount of Electronic money in currency in which the payment will be made is sufficient to pay the respective fees. In the event, there is not enough Electronic money in your Account to set off the respective fees, we will not execute the payment and shall take no responsibility for such payment to be not executed.
5.5.5. We will use third party payment services providers to complete payment initiated by you. Due to the requirements imposed on us by the laws on prevention of money laundering and terrorist financing, we may request additional information regarding the payments initiated by you and suspend your payment until you satisfy our request. Failure to furnish us with the requested information, data and/or documents or failure to meet the terms introduced by us, will result in your payment to be not completed. We will not be held anyhow liable in the foregoing event.
5.5.6. Valyuz has a right at its sole discretion to refuse to execute any payment when execution of such payment violates or could violate the applicable law or the activities with your Valyuz Account are suspicious.
5.5.7. You will not use your Valyuz Account for any unlawful or illegal purpose. In the foregoing event, we may report you to relevant authorities.
5.5.8. You must monitor your Valyuz Account so there would be sufficient funds to make payments. Valyuz will be entitled to reject your payment in the event if the amount of the initiated payments exceeds the total amount in your Valyuz Account or if there are not enough funds to settle respective fees.
5.5.9. In the event, you received funds to your Valyuz Account which you do not own, you must immediately contact our Support Service and inform on the foregoing. Our Support Services will guide you in such a situation. If you claim ownership to the funds you are not entitled to, you will have to return such funds and reimburse the respective damages in relation thereto. Valyuz will be entitled to employ all measures, assigned to Valyuz by applicable law to claim debt and damages from you.
5.6. Fees
5.6.1. By accepting these Terms of Use you agree to pay us any fees for the Services. You acknowledge that the fees are determined at our sole discretion and that specific fees applicable to separate Clients may differ based on case-by-case circumstances (i.e., based on scope / type of Services provided to the Client, based on Client’s country of incorporation, business activity etc.).
5.6.2. You will be asked to conclude a separate fee schedule before starting to use our Services, where specific applicable fees for you shall be indicated. Based on your profile you will also be asked to conclude and familiarize yourself with other documents (i. e., Corporate Terms & Conditions) before being able to access our Services, which prescribe a details procedure in regards to applicable fees.
5.6.3. If you use any of our Services (i. e., certain functionalities or features available within the Website or the App) that are facilitated or provided by a third party, additional fees may apply and may be included in the total amount of fees payable by you to Valyuz or such fees may be asked to be paid directly to our partners.
5.6.4. You authorise us, or our designated payment services provider, or a third party which facilitates / provides respective functionalities or features available within the Website or the App, to charge or deduct your Account funds for any applicable fees owed in connection with your use of the Services or functionalities or features available within the Website or the App.
5.7. Redemption of Electronic money
5.7.1. If you wish to transfer Electronic money held with your Valyuz Account to the bank account held in your name, you will have to request to us to redeem your Electronic money. By redeeming your Electronic money, we will transfer your funds held in our Valyuz clients’ bank account to your bank account.
5.7.2. You can request to redeem part or all of Electronic money held with your Valyuz Account at any time, in accordance with these Terms of Use and other contractual provisions applicable to you. To do so, you must log into your Valyuz Account and follow the instructions provided therein.
5.7.3. You can place a request to redeem part or all of Electronic money held with your Valyuz Account to the bank account held in your name. Valyuz is solely entitled to add and respectively, to discontinue any redemption method at any time and Valyuz does not give a guarantee regarding any redemption method available on the Website at particular time, as long as at least one redemption method is available to you.
5.7.4. Your request to redeem Electronic money will be subject to submission of proof that the bank account Electronic money is opened under your name. Failure to do so will result in rejection of your request to redeem Electronic money.
5.7.5. Valyuz will have a right, at its reasonable discretion, to impose limits on the amount of Electronic money held with your Valyuz Account you be allowed to redeem. We may ask you additional information, data or documents to lift these limits.
5.7.6. Valyuz will not charge you for redemption of Electronic money, unless otherwise indicated in the agreement regarding provision of services. Nevertheless, since third party (i.e. payment services providers) performs the redemption request, redemption fees and currency conversion fees (if applicable) may be applied by such third party.
5.7.7. You are solely responsible for the accuracy and completeness of the payment details entered for the purpose of redemption of your Electronic money held with your Valyuz Account. In no event Valyuz will be held liable for redemption of your Electronic money held with your Valyuz Account to wrong bank account, if such was a result of wrong payment details. If Electronic money held with your Valyuz Account has been redeemed to wrong bank account, you may request Valyuz to assist you in reclaiming such Electronic money, however, Valyuz will charge you an administrative fee. Valyuz will give no guarantee that the reclaim efforts will be successful, nor assume any liability thereof.
5.7.8. Valyuz is not responsible for redemption of your Electronic money once the funds are received by your payment service provider as Valyuz is the payer and not the payment services provider for the purpose of redemption.
6. Data protection
6.1. The processing of your personal data is governed by Valyuz Privacy Policy which can be found on the Website. By accepting these Terms of Use, you also agree to the terms of the Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms of Use.
6.2. Subject to your consent, you can receive e-mail newsletters that shall inform you about new product features, events, promotions, special deals etc. If you do not wish to receive any newsletters from us, you can opt out at any time by contacting Valyuz. Any e-mail newsletter you receive shall also give you the option to unsubscribe from any future newsletter.
7. Confidentiality
7.1. We acknowledge that during provision of our Services, we will receive information that is of a personal, confidential and/or proprietary nature, including but not limited to, your personal data and/or any other information and documents provided by you, as well as the information related to your and Valyuz relations. We therefore agree to hold all confidential information in trust and strict confidence and agree that it will be used only for the purposes required to provide the Services, and will not be used for any other purpose, or disclosed to any third party.
7.2. The duty of confidentiality shall apply unless otherwise agreed and in cases where Valyuz will be required to disclose such information by law, regulation or a decision taken by public authority, or where the information in question shall be already publicly available.
8. Intellectual property
8.1. The contents of the Website, such as text, graphics, images, trademarks, service marks, logos and other material, are protected by copyright and other intellectual property laws under Lithuanian and European laws and are owned by Valyuz. Unauthorized use of the such content may violate copyright, trademark, and other laws. You may not sell, modify, reproduce, display, publicly perform, distribute, create derivative works or otherwise use or exploit the content of the Website in any way for any public or commercial purpose. The use of the contents of the Website on any other website or in a networked computer environment for any purpose is prohibited.
8.2. You acknowledge that Valyuz owns exclusive rights in Valyuz trademarks. You may not use Valyuz as part of any of product, service, domain or company name and may not take, nor authorize any action inconsistent with Valyuz exclusive trademark rights during the term of yours and Valyuz legal relationship, unless you obtained Valyuz’s consent in advance and in such an event, strictly to the extent provided within the consent. Nothing in these Terms of Use grants you ownership or any rights to the Website, other than necessary to enable you to access the Website and use Valyuz Services. You undertake not to adjust or try to circumvent or delete any notices, including, but not limited to, any intellectual property notices) contained on the Website and in particular any digital rights or other security embedded or contained within the Website.
9. Disclaimers
9.1. Valyuz does not warrant that the Website and/or the Services will operate uninterrupted or error-free or that the Services, the Website and its server are free of computer viruses and other harmful goods. Valyuz does not warrant and does not guarantee the absence of errors and failures in the operation of the Website and/or Services, including the correctness of work of the software and availability of the system. Valyuz will not be responsible for any service interruptions, including, but not limited to, system failures or other interruptions that may affect use of Services.
9.2. The Website and the Services are provided on an ‘as is’, ‘as available’ basis without warranties of any kind, whether express, implied or statutory. Valyuz, to the fullest extent permitted by law, disclaims all warranties.
10. Liability
10.1. Valyuz will not be liable for any disruption or impairment of the Services or for disruptions or impairments of intermediary services on which Valyuz relies for the performance of its obligations here under, provided that such disruption or impairment is due to circumstances beyond Valyuz’s reasonable control or the control of the intermediary affected. Valyuz shall not be held liable against you or any third party for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation resulting from the use or inability to use the Website and the Services (including those facilitated or provided by third parties), whether based on warranty, contract, tort, or any other legal theory, and whether or not the Client is advised of the possibility of such damages. The aggregate liability of Valyuz to you for all claims arising from the Website and the Services and the content is limited to the amount of 3 (three) months fees paid by you to us.
10.2. Valyuz will not be held liable against you or any third party for any losses arising from Valyuz or its partners’ compliance with legal and regulatory requirements.
10.3. Valyuz shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and any third party.
10.4. You agree to defend, reimburse or compensate Valyuz and hold Valyuz, its officers, directors, employees and agents harmless from any claims, actions or demands, including without limitation reasonable legal and accounting fees that Valyuz incurs or suffers due to or arising out of your use of the Website, the Services (including those facilitated or provided by third parties) and/or your breach of these Terms of Use, concluded services agreement or other agreements that govern our relationship, breach of any applicable law or regulation and/or use of the offered Services. This provision shall survive termination of the relationship between you and Valyuz. Valyuz will provide notice to you promptly of any such claim, suit or proceeding and shall assist you, at your expense, in defending any such claim, suit or proceeding.
10.5. When using the Services, you may view content provided by third parties. We do not control, endorse or adopt any third-party content and will have no responsibility for third-party content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third party. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of third-party content (including any features or functionalities provided by third party), and your interactions with third parties, is at your own risk.
11. Termination
11.1. Valyuz has the right to immediately terminate your and Valyuz legal relationship that arise from or that are related to these Terms of Use in one of the following events:
11.1.1. you fail to make any payment which is due in accordance with the executed agreement regarding provision of Services;
11.1.2. you are in breach of any relevant statute, law, regulation or instruction of public authority;
11.1.3. agreement regarding provision of Services executed between you and Valyuz becomes unlawful or illegal;
11.1.4. Valyuz discontinues its Services irrespective of the reason thereto;
11.1.5. you no longer meet our Client’s profile;
11.1.6. you have provided to us inaccurate information having of which beforehand we would have not accepted you as the Client;
11.1.7. you use your Valyuz Account for unlawful or illegal purposes;
11.1.8. Valyuz has a reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity; or
11.1.9. any other reason specified in the services agreement(s) concluded between Valyuz and you.
11.2. In case legal relationship between you and Valyuz are terminated, Valyuz may be entitled to deduct from your Account amount payable by you to us, state authorities or third parties (including, but not limited, our partners), any and all outstanding penalties, damages, losses and other amounts that Valyuz has suffered or paid due to your fault. The volume, grounds and explicit procedure for application of such deductions may defer based on specific type of Services we provide to you.
11.3. Valyuz may suspend the use of the Valyuz Account if Valyuz reasonably suspects your Valyuz Account has been used or are being used without your authorization or fraudulently. You and Valyuz are entitled to terminate the Valyuz Account, including the executed agreement regarding provision of Services with a prior 30 (thirty) days written notice.
12. Communication with you
12.1. To communicate with you, we will use two types of internal messages:
12.1.1. regular messages. Regular messages will be used for the any and all communication between you and us. Should you be willing to ask us a question, to solve an issue or to place a request (save for exceptions indicated in these Terms of Use), you should use the regular messages to approach us;
12.1.2. signed messages. Signed messages will be used only when requested by us. I.e. for whatever purpose we may request you to send us a signed message. If you received such a request, you should send us a signed message within the term specified by us.
For the purpose of clarity, you are not allowed to place any payment related request via internal messages (neither regular messages, nor signed messages). If you do so, your request will be reject and we will not accept any liability in relation to that and respectively you will not be entitled to claim any damages in relation to the payment you requested to be made via internal messages. Should you be willing to revoke or recall the payment initiated/made by you, you should send us the regular message.
12.2. We may also send you emails to the verified e-mail address indicated in your Valyuz Account. We can contact you by phone as well, at the number indicated in your Valyuz Account.
12.3. You are required to maintain at least one valid e-mail address in your Valyuz Account. You oblige to check that e-mail constantly. The email send to you by us will be deemed to be received at the same day if sent until 4 pm on business day and on the next business day if sent after 4 pm or not on business day.
12.4. All communication will be conducted in English.
12.5. When the applicable law requires us to provide you information on a durable medium, we will either send you an e-mail (with or without an attachment) or send you a notification referring you to information on the Website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference. You must keep copies of all communications we send or make available to you. You can request a copy of the current Terms of Use or any other contractual document relevant to you by contacting our Support Service.
12.6. You can contact us by e-mail or by phone. Please see our contact detail here.
13. Complaints
13.1. Should you be unsatisfied with Valyuz or our Services, you can address your complaint to Support Service. You should clearly indicate that you are wishing to file a complaint (for further details refer to Complaint Policy). This helps us to distinguish a complaint from a mere query. We will further process your complaint in accordance with our complaint policy.
14. Miscellaneous
14.1. Governing law. These Terms of Use, Privacy Policy, agreement on provision of Services and other documents (if any) are governed by and interpreted in accordance with the laws of the Republic of Lithuania. All disagreements arising out of or in relation to these Terms of Use, Privacy policy, agreement regarding provision of Services and other documents (if any) will be settled in accordance with the procedures indicated in the agreement regarding provision of Services (i. e., Corporate Terms & Conditions).
14.2. Assignments. Your Valyuz Account is personal and you may not assign or transfer in any way any rights under the Terms of Use to any third party.
14.3. Validity. These Terms of Use will be valid until you use the Website and/or Services. You will be subject to the edition of the Terms of Use that were valid at the time the respective Services were provided to you.
14.4. Amendments. These Terms of Use and any additional terms and conditions are subject to change. Valyuz may, at its sole discretion and without liability to you or any other third party, at any time, change, modify, remove or discontinue (temporarily or permanently) the use of the Website or the App, any part or all of the Services, functions, features and corresponding information from the Website or the App without indicating the reasons of such action, and you confirm that Valyuz will not be liable to you for any such change, modification, removal or termination. Information on pending changes will be made available to you on your Valyuz Account and by servicing you with an e-mail 30 (thirty) days prior such changes become effective. In case you disagree with the changes, you may terminate your Agreement with VALYUZ according to these Terms of Use or other agreements that govern our relationship.
14.5. Invalidity. If any provision of these Terms of Use is found by any court or legal authority to be invalid, unenforceable or illegal, the other provisions will remain valid and in force and, to the extent possible, the provision shall be modified to ensure it is valid, enforceable and legal whilst maintaining or giving effect to its commercial intention.
14.6. Enforce ability. No provisions of these Terms of Use shall be intended to be enforceable by any other person other than you and Valyuz.
