Last updated on 02 February, 2024
APP Integration - Terms and Conditions
This document is an electronic record generated by a computer system and does not require any physical or digital signatures.
This document is to publish the rules and regulations, Privacy Policy and Terms for access to or usage of www.transak.com.
The domain name www.transak.com, including the related mobile site and mobile application (hereinafter referred to as Platform) is owned and operated by Transak group (hereinafter referred to as 'Transak').
For the purpose of the Terms (hereinafter referred to as “Terms”), wherever the context so requires, ‘you’ and ‘your’ shall relate to any natural or legal person who has agreed to become a partner (‘Partner’) on the Platform by providing registration data to us.
Your use of the Platform and the features therein is governed by the following terms and conditions (‘Agreement’) including applicable policies available on the Platform, notifications and communications sent to you on the Platform which are incorporated herein by way of reference. By mere use of the Platform you shall be contracting with Transak, and these terms and conditions including the policies constitute your binding obligations to Transak.
When you use any current or future services provided by us through the Platform you will be subject to the rules, guidelines, policies, terms and conditions applicable to such services and they shall be deemed incorporated into the ToU and considered a part and parcel of the ToU. We reserve the right, at our sole discretion, to change, modify, add, or remove portions of the Terms at any time. We will notify you through any of the communication modes as mentioned in this Terms in case of any changes or updates to the Terms that materially impact your use of the Platform. Your continued use of the Platform following the changes or updates will mean that you accept and agree to the revisions. As long as you comply with the ToU, we grant you a personal, non-exclusive, non-transferable, and limited privilege to enter and use the Platform.
ACCESSING, BROWSING, OR OTHERWISE USING THE PLATFORM INDICATES YOUR AGREEMENT WITH ALL THE TERMS AND CONDITIONS UNDER THE TERMS AS AMENDED FROM TIME TO TIME. PLEASE READ THE TOU CAREFULLY BEFORE PROCEEDING.
When you use the Platform or send emails, other data, information, or communication to us, you agree and understand that you are communicating with us through electronic records and you consent to receive communications via electronic records from us periodically or as and when required. We may communicate with you by email or any other mode of communication, electronic or otherwise.
This Agreement provides a general description of the Services that Transak may provide to You and Your customers (“End-Users”), to receive cryptocurrency to fiat on ramp and off ramp services (the “Payment Processing Services”), to list Your Token and make it available to End-Users and other users of the our services (the “Token Listing Service”) as well as other payment, data, technology and analytics services offered by Transak and its affiliates (each, a “Service” or “Services”) as may be applicable.
We provide you with a more detailed description of the Services through published software libraries and application programming interfaces (“API”) that may be used to access the Services and additional resources We make available to you on Our Website.
Before using the Services, You must register with Transak and create an account (“Transak Partner Account”).
Registration and Permitted Activities: Only businesses (including sole proprietors), bona fide registered charitable organizations, and other entities are eligible to apply for a Transak Partner Account to use the Services described in this Agreement.
Upon signing-up for a Transak Partner Account, You will have access to the testing/development environment API keys, along with limited access to the production environment API keys.
Until You have submitted, and We have reviewed and approved, all information required or requested by Us as part of the application process, Your Transak Partner Account will be available to You on a preliminary basis only, and We may terminate it at any time at our sole discretion.
To obtain full access to the Services, You or the person or people submitting the application (Your “Representative”) must provide Us with Your business or trade name, physical address, email, phone number, business identification number, URL, the nature of Your business or activities, and any other information about You that We reasonably request. We will also need to collect personal information (including name, birthdate, and government-issued identification number) about Your directors, company officers and senior staff, ultimate beneficial owners, principals, and Your Partner Account administrator. You should do so by completing the Know Your Business (“KYB”) form (KYB FORM).
You and Your Representative individually affirm to Transak that Your Representative is authorised to provide the information on Your behalf and to bind You to this Agreement. We may require You or Your Representative to provide additional information or documentation demonstrating Your Representative’s authority. Without the express written consent of Transak, neither You nor Your Representative may register or attempt to register for a Transak Partner Account on behalf of a User Transak previously terminated from use of the Services.
You agree to keep the information in Your Transak Partner Account current. You must promptly update Your Transak Partner Account with any changes affecting You, the nature of Your business activities, Your Representatives, beneficial owners, principals, or any other pertinent information. We may suspend Your Transak Partner Account or terminate this Agreement if You fail to keep this information current.
You also agree to promptly notify Us in writing no more than three days after any of the following occur:
Transak will provide the Services to Your End-Users at the rates and for the fees (“Fees”) described on the Transak Pricing page, linked here and incorporated into this Agreement unless a different fee schedule is agreed between Transak and the partner in writing (email permitted).
The Fees’ charged by Transak are exclusive of blockchain protocol specific transaction costs (such as gas fees on the Ethereum blockchain). We may revise the Fees at any time. Additionally, You have the ability to charge Your own fee from Your End-Users (“Partner Fees”) additively to the fees described above through Your Transak management dashboard (“Dashboard”).
You are also obligated to pay all taxes, fees and other charges imposed by any governmental authority, including any value-added tax, goods and services tax, sales tax and applicable indirect and transactional taxes (“Taxes”) on the Services provided under this Agreement.
We will provide a smoother onboarding experience by resolving all your integration and product-related queries. Our Integration team offers the best support to unblock all your huddles by recommending the proper integration guidelines through the partner dashboard chat option. This includes resources, feature updates, announcements, and documentation. If You still have questions, please get in touch with us via the partner dashboard chat option or click here to start support chat.
Our fees are exclusive of any applicable Taxes, except as expressly stated to the contrary. You have sole responsibility and liability for: (i) determining what, if any, Taxes apply to the sale of Your products and services, acceptance of donations, or payments You receive in connection with Your use of the Services; and (ii) assessing, collecting, reporting, and remitting Taxes for Your business to the appropriate tax and revenue authorities. If We are required to withhold any Taxes, or We are unable to validate any tax-related identification information You provide to Us, We may deduct such Taxes from amounts otherwise owed and pay them to the appropriate taxing authority. If You are exempt from payment of such Taxes, You must provide Us with an original certificate that satisfies applicable legal requirements attesting to Your tax-exempt status. Upon Our reasonable request, You must provide Us with information regarding Your tax applicability.
We may refuse, condition, or suspend any Transactions that We believe: (i) may violate this Agreement or other agreements You may have with Transak; (ii) are unauthorised, fraudulent or illegal; or (iii) expose You, Transak, or others to risks unacceptable to Transak. If We suspect or know that You are using or have used the Services for unauthorised, fraudulent, or illegal purposes, We may be required by law to share information related to such activity with the appropriate authorities and We reserve the right to share such information where the applicable Law does not require Us to do so at Our discretion.
Transak has developed a Web Widget and provides access to the API that may be used to access the Services. You may use the API solely as described in the Documentation to use the Services on Websites and through the applications identified in Your Transak Partner Account.
You may manage Your Transak Partner Account, connect with other service providers, and enable additional features through the Dashboard. Transak will use the Dashboard to provide You with information about Your Transak Partner Account. Transak will also provide You with access to summary reports which will include all Your Transak Partner Account activity, up to the most recent full day.
You may not use the API for any purpose, function, or feature not described in the Documentation or otherwise communicated to You by Us. Due to the nature of the Services, We will update the API and Documentation from time to time, and may add or remove functionality. We will provide You Notice in the event of material changes, deprecations, or removal of functionality from the API so that You may continue using the Services with minimal interruption.
We will make staging and production API keys available to You through the Dashboard. You are responsible for securing Your secret keys. You agree not to publish or share them with any unauthorised persons. Failure to secure Your secret keys will increase the likelihood of fraud on Your Transak Partner Account and potential losses to You or Your End-Users’. You should contact Us immediately if You become aware of any unauthorised use of Your secret key or any other breach of security regarding the Services.
As between You and Transak, Transak and its licensors exclusively own all rights, title, and interest in the patents, copyrights (including rights in derivative works), moral rights, rights of publicity, trademarks or service marks, logos and designs, trade secrets, and other intellectual property embodied by, or contained in the API, Services, Dashboard, and Documentation (collectively, “Transak IP”) or any copies thereof. Transak IP is protected by copyright, trade secret, patent, and other intellectual property Laws, and all rights in Transak IP not expressly granted to You in this Agreement are reserved.
You may choose to or We may invite You to submit comments or ideas about improvements to the Service, Our API, Our platform, or any other component of Our products or services (“Ideas”). If You submit an Idea to Us, We will presume that Your submission was voluntary, unsolicited by Us, and delivered to Us without any restrictions on Our use of the Idea. You also agree that Transak has no fiduciary or any other obligation to You in connection with any Idea You submit to Us, and that We are free to use Your Ideas without any attribution or compensation to You.
You are granted a non-exclusive and non-transferable licence to electronically access and use the Transak IP only in the manner described in this Agreement and the Documentation provided to You by Transak. Transak does not sell to You, and You do not have the right to sublicense the Transak IP. We may make updates to the Transak IP or new Services available to You automatically as electronically published by Transak, but We may require action on Your part before You may use the Transak IP or new Services (including activation through the Dashboard, or acceptance of new or additional terms). Transak may revoke or terminate this licence at any time if You use Transak IP in a manner prohibited by this Agreement.
You may not: (i) claim or register ownership of Transak IP on Your behalf or on behalf of others; (ii) sublicence any rights in Transak IP granted by Us; (iii) import or export any Transak IP to a person or country in violation of any country’s export control Laws; (iv) use Transak IP in a manner that violates this Agreement or Laws; or (v) attempt to do any of the foregoing.
We may make certain Transak logos or marks (“Transak Marks”) available for use by You and other Users to allow You to identify Transak as a service provider. Transak may limit or revoke Your ability to use Transak Marks at any time. You may never use any Transak Marks or Transak IP consisting of trademarks or service marks without Our express permission, or in a manner that may lead people to confuse the origin of Your products or services with Ours.
During the term of this Agreement, You may publicly identify Us as the provider of the Services to You and We may publicly identify You as a Transak User. If You do not want Us to identify You as a User, please Contact Us. Neither You nor We will imply any untrue sponsorship, endorsement, or affiliation between You and Transak. Upon termination of Your Transak Partner Account, both You and Transak will remove any public references to Our relationship from Our respective Platforms.
You agree not to engage in any form of marketing or promotional activity that relates to the Transak Services without prior written approval of any such marketing or promotional activity by Transak.
From time to time We may offer You additional features or services that may be subject to additional or different terms of service. All such additional features and services form part of the Services, and You may not use these additional services unless You agree to the applicable agreement or terms (if any) for those services.
We may also provide You access to services identified as “beta” or pre-release services. You understand that these services are still in development, may contain bugs or errors, may be feature incomplete, may materially change prior to a full commercial launch, or may never be released commercially. We provide beta services AS IS, and without warranty of any kind, and Your use of, or reliance on beta services is at Your own risk.
Transak works with various Transak affiliates, Payment Method Providers and Payment Method Acquirers to execute transactions with the End-Users’.
The following terms used in this Agreement relate to Your use of Payment Methods:
“Charge” means a credit or debit instruction to capture funds from an account that an End-User maintains with a bank or other financial institution they use in connection with a Transaction.
“Dispute” means an instruction initiated by a End-User for the return of funds for an existing Charge (including a chargeback or dispute on a Payment Method)
“Fine” means any fines, levies, or other charges imposed by Us, a Payment Method Provider or a Payment Method Acquirer, caused by Your violation of Laws or this Agreement, or as permitted by the applicable Payment Method Rules.
“Payment Method Rules” means the guidelines, bylaws, rules, and regulations imposed by the Payment Method Providers and Payment Method Acquirers that operate Payment Methods supported by Transak (including the payment card network operating rules (“Network Rules”) for the Visa, Mastercard, and American Express networks; and the CHAPs and SEPA operating rules).
“Payment Method” means a type of payment method that Transak accepts as part of the Payment Processing Services, such as credit card, debit card, SEPA payments, GBP Faster payments, Unified Payments Interface (“UPI”), etc.
“Payment Method Acquirer” means a financial institution that is authorised by a Payment Method Provider to enable the use of a Payment Method by accepting Charges from End-Users on behalf of the Payment Method Provider, and routing these Charges to the Payment Method Provider.
“Payment Method Provider” means the provider of a Payment Method, such as Visa, Mastercard, and American Express.
“Refund” means an instruction initiated by You to return funds to an End-User for an existing Charge.
“Return” means an instruction initiated by You, an End-User, a Payment Method Provider or a Payment Method Acquirer to return funds unrelated to an existing Charge.
“Reversal” means an instruction initiated by a Payment Method Provider, a Payment Method Acquirer or Us to return funds for an existing Charge. Reversals may result from (i) invalidation of a charge by a Payment Method Provider or a Payment Method Acquirer; (ii) funds settled to You in error or without authorisation; and (iii) submission of a Charge in violation of the applicable Payment Method Rules, or where submission of the Charge or Your use of Payment Processing Services violates this Agreement.
We are responsible for handling disputes, refunds and reversals for the End Users where We are the sole payment processor, and Our affiliates, the Payment Method Providers and Payment Method Acquirers are responsible for handling disputes, refunds and reversals for purchases processed by them. Notwithstanding any other provisions in this agreement, Transak shall not bear liability for any losses incurred by the Partner or the end user arising from a failure of service by the Partner or any third-party services or systems utilized by the Partner. Transak's liability is expressly limited to handling disputes, refunds, and reversals as outlined in this clause. The Partner acknowledges and agrees that it is responsible for the quality, availability, and performance of the services it offers to its customers. Any losses, damages, or claims resulting from a failure of the Partner's services, systems, or any third-party services integrated by the Partner, shall not be the responsibility of Transak. The Partner shall indemnify and hold Transak harmless from any claims, demands, or actions brought against Transak by the Partner's customers or any third parties related to the Partner's services or any failures thereof.
You may request Us to list a cryptoasset (hereafter referred to as a “Token” or “cryptocurrency”) as one of the cryptocurrencies available to acquire in exchange for fiat currency via the Payment Processing Services provided by Transak to the End-Users or other users of the Transak Services (the “Token Listing Service”).
Protecting, securing, and maintaining the information processed and handled through the Services is one of Our top priorities, and it should be Yours too. This section describes Our respective obligations when handling and storing information connected with the Services. The following terms used in this section relate to data provided to Transak by You or Your End-User, or received or accessed by You through Your use of the Services:
“Payment Account Details” means the Payment Method account details for an End-User, and includes, with respect to credit and debit cards, the cardholder’s account number, card expiration date, and CVV2.
“Payment Data” means Payment Account Details, information communicated to or by Payment Method Providers or Payment Method Acquirers, financial information specifically regulated by Laws and Payment Method Rules, and any other information used with the Payment Processing Services to complete a Transaction.
“Personal Data” means information that identifies a specific living person (not a company, legal entity, or machine) and is transmitted to or accessible through the Services.
“Transak Data” means details of the API transactions over Transak infrastructure, information used in fraud detection and analysis, aggregated or anonymized information generated from Data, and any other information created by or originating from Transak or the Services.
“Partner Data” means information that describes Your business and its operations, Your products or services, and orders placed by End-Users.
The term “Data” used without a modifier means all Personal Data, Partner Data, Payment Data, and Transak Data.
Transak processes, analyses, and manages Data to: (a) provide Services to You, other Transak Users, and End-Users; (b) mitigate fraud, financial loss, or other harm to Users, End-Users and Transak; and (c) analyse, develop and improve Our products, systems, and tools. Transak provides Data to third-party service providers, including Payment Method Providers, Payment Method Acquirers, and their respective affiliates, as Well as to Transak’s affiliates, to allow Us to provide Services to You and other Users. We do not provide Personal Data to unaffiliated parties for marketing their products to You. You understand and consent to Transak’s use of Data for the purposes and in a manner consistent with this Agreement.
We may also provide You with Data regarding the possibility or likelihood that a Transaction may be fraudulent. We may incorporate any subsequent action or inaction by You into Our fraud model, for the purpose of identifying future potential fraud. You understand that We provide this Data to You for Your consideration, but that You are ultimately responsible for any actions You choose to take or not take in relation to such Data.
We may revise these terms from time to time. Any updates, revisions, supplements, modifications, and additional rules, policies, terms, and conditions will be posted on the Platform and will be effective immediately after such posting and we recommend that you periodically check these Terms on the Platform for such revised terms. Your continued use of the Services and/or the Platform will be deemed to constitute your acceptance of any and all such revised terms.
You may not assign this Agreement, any rights or licences granted in this Agreement, or operation of Your Transak Partner Account to others without Our prior written consent. If You wish to make such an assignment, please contact Us. If We consent to the assignment, the assignee must agree to assume all of Your rights and obligations owed by You related to the assignment, and must agree to comply with the terms of this Agreement. Transak may assign this Agreement without Your consent or any other restriction. If We make an assignment, We will provide reasonable Notice to You.
If We believe that a security breach, leak, loss, or compromise of Data has occurred on Your systems, Website, or app affecting Your compliance with this Agreement, We may require You to permit a third-party auditor to conduct a security audit of Your systems and facilities, and You must fully cooperate with any requests for information or assistance that the auditor makes to You as part of the security audit. The auditor will issue a report to Us which We may share with Our Payment Method Providers and Payment Methods Acquirers.
Except as expressly stated in this Agreement, nothing in this Agreement serves to establish a partnership, joint venture, or other agency relationship between You and Us, or with any Payment Method Provider. Each party to this Agreement, and each Payment Method Provider and Payment Method Acquirer, is an independent contractor. Unless a Payment Method Provider or Payment Method Acquirer expressly agrees, neither You nor We have the ability to bind a Payment Method Provider or Payment Method Acquirer to any contract or obligation, and neither party will represent that You or We have such an ability.
We may reference or provide access to third-party services, products, and promotions that utilize, integrate, or provide ancillary services to the Services (“Third-Party Services”). These Third-Party Services are provided for Your convenience only and do not constitute Our approval, endorsement, or recommendation of any such Third-Party Services for You. You access and use any Third-Party Service based on Your own evaluation and at Your own risk. You understand that Your use of any Third-Party Service is not governed by this Agreement. If You decide to use a Third-Party Service, You will be responsible for reviewing, understanding and accepting the terms and conditions associated with its use. We expressly disclaim all responsibility and liability for Your use of any Third-Party Service. Please also remember that when You use a Third-Party Service, Our Privacy Policy is no longer in effect. Your use of a Third-Party Service, including those that have a link on Our Website, is subject to that Third-Party Service’s own terms of use and privacy policies.
Neither party will be liable for any delays in processing or other non-performance caused by telecommunications, utility, failures, or equipment failures; labour strife, riots, war, or terrorist attacks; non-performance of Our vendors or suppliers, fires or acts of nature; or any other event over which the respective party has no reasonable control. However, nothing in this section will affect or excuse Your liabilities or Your obligation to pay Fees, Fines, Disputes, Refunds, Reversals, or Returns under this Agreement.
Without limiting, and in addition to, any other obligation that You may owe under this Agreement, You are at all times responsible for the acts and omissions of Your employees, contractors and agents, to the extent such persons are acting within the scope of their relationship with You.
You agree to defend Transak, Our affiliates (each a “Transak Entity”) against any claim, suit, demand, loss, liability, damage, action, or proceeding (each, a “Claim”) brought by a third party against a Transak Entity, and You agree to fully reimburse the Transak Entities for any Claims that result from: (i) Your breach of any provision of this Agreement; (ii) your breach of any applicable laws and rules (iii) negligent or wilful misconduct of Your employees, contractors, or agents; or (iv) infringement of intellectual property rights.
Transak agrees to defend you, your affiliates, (each a “Partner Entity”) against any claim, suit, demand, loss, liability, damage, action, or proceeding (each, a “Claim”) brought by a third party against Partner Entity, and agree to fully reimburse the Partner Entities for any Claims that result from: (i) Transak breach of any applicable laws (ii) infringement of intellectual property rights.
By accepting the terms of this Agreement, You represent and warrant that: (a) You are eligible to register and use the Services and have the authority to execute and perform the obligations required by this Agreement; (b) any information You provide Us about Your business, products, or services is accurate and complete; (c) any Charges represent a Transaction for permitted products, services, or donations, and any related information accurately describes the Transaction; (d) You will comply with all Laws applicable to Your business and use of the Services; (e) Your employees, contractors and agents will at all times act consistently with the terms of this Agreement; (f) You will not use Payment Processing Services for personal, family or household purposes, for peer-to-peer money transmission, or (except in the normal course of business) intercompany Transactions; and (g) You will not use the Services, directly or indirectly, for any fraudulent or illegal undertaking, or in any manner that interferes with the normal operation of the Services.
WE PROVIDE THE SERVICES AND TRANSAK IP “AS IS” AND “AS AVAILABLE”, WITHOUT ANY EXPRESS, IMPLIED, OR STATUTORY WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, OR ANY OTHER TYPE OF WARRANTY OR GUARANTEE. NO DATA, DOCUMENTATION OR ANY OTHER INFORMATION PROVIDED BY TRANSAK OR OBTAINED BY YOU FROM OR THROUGH THE SERVICES — WHETHER FROM TRANSAK OR ANOTHER TRANSAK ENTITY, AND WHETHER ORAL OR WRITTEN — CREATES OR IMPLIES ANY WARRANTY FROM A TRANSAK ENTITY TO YOU.
YOU AFFIRM THAT NO TRANSAK ENTITY CONTROLS THE PRODUCTS OR SERVICES THAT YOU OFFER OR SELL OR THAT YOUR END-USERS PURCHASE USING THE PAYMENT PROCESSING SERVICES. YOU UNDERSTAND THAT WE CANNOT GUARANTEE AND WE DISCLAIM ANY KNOWLEDGE THAT YOUR END-USERS POSSESS THE AUTHORITY TO MAKE, OR WILL COMPLETE, ANY TRANSACTION.
THE TRANSAK ENTITIES DISCLAIM ANY KNOWLEDGE OF, AND DO NOT GUARANTEE: (A) THE ACCURACY, RELIABILITY, OR CORRECTNESS OF ANY DATA PROVIDED THROUGH THE SERVICES; (B) THAT THE SERVICES WILL MEET YOUR SPECIFIC BUSINESS NEEDS OR REQUIREMENTS; (C) THAT THE SERVICES WILL BE AVAILABLE AT ANY PARTICULAR TIME OR LOCATION, OR WILL FUNCTION IN AN UNINTERRUPTED MANNER OR BE SECURE OR DATA. YOUR USE OF SERVICES IS DONE AT YOUR OWN RISK — YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR PROPERTY, LOSS OF DATA, OR ANY OTHER LOSS THAT RESULTS FROM SUCH ACCESS OR DOWNLOAD. YOU UNDERSTAND THAT THE TRANSAK ENTITIES MAKE NO GUARANTEES TO YOU REGARDING TRANSACTION PROCESSING TIMES OR PAYOUT SCHEDULES.
NOTHING IN THIS AGREEMENT OPERATES TO EXCLUDE, RESTRICT OR MODIFY THE APPLICATION OF ANY IMPLIED CONDITION, WARRANTY OR GUARANTEE, OR THE EXERCISE OF ANY RIGHT OR REMEDY, OR THE IMPOSITION OF ANY LIABILITY UNDER LAW WHERE TO DO SO WOULD: (A) CONTRAVENE THAT LAW; OR (B) CAUSE ANY TERM OF THIS AGREEMENT TO BE VOID.
Under no circumstances will any Transak Entity be responsible or liable to You for any indirect, punitive, incidental, special, consequential, or exemplary damages resulting from Your use or inability to use the Services or for the unavailability of the Services, for lost profits, personal injury, or property damage, or for any other damages arising out of, in connection with, or relating to this Agreement or Your use of the Services, even if such damages are foreseeable, and whether or not You or the Transak Entities have been advised of the possibility of such damages.
The Transak Entities are not liable, and deny responsibility for, any damages, harm, or losses to You arising from or relating to hacking, tampering, or other unauthorised access or use of the Services, Your Transak Partner Account, or Data, or Your failure to use or implement anti-fraud measures, Security Controls, or any other data security measure. The Transak Entities further deny responsibility for all liability and damages to You or others caused by (a) Your access or use of the Services inconsistent with the Documentation; (b) any unauthorised access of servers, infrastructure, or Data used in connection with the Services; (c) interruptions to or cessation of the Services; (d) third-party content provided by You; or (e) the defamatory, offensive, or illegal conduct of others.
You agree to limit any additional liability not disclaimed or denied by the Transak Entities under this Agreement to Your direct and documented damages; and You further agree that under no circumstances will any such liability exceed in the aggregate the amount of Fees paid by You to Transak during the three-month period immediately preceding the event that gave rise to Your claim for damages.
These limitations on Our liability to You will apply regardless of the legal theory on which Your claim is based, including contract, tort (including negligence), strict liability, or any other theory or basis.
Transak may respond to and comply with any writ of attachment, lien, levy, subpoena, warrant, or other legal order (“Legal Process”) that We believe to be valid. We or any Payment Method Provider (or, where applicable, the Payment Method Acquirer for the Payment Method) may deliver or hold any funds or, subject to the terms of our Privacy Policy, any Data as required under such Legal Process, even if You are receiving funds or Data on behalf of other parties. Where permitted by Law, We will make reasonable efforts to provide You Notice of such Legal Process by sending a copy to the email address We have on file for You. Transak is not responsible for any losses, whether direct or indirect, that You may incur as a result of Our response or compliance with a Legal Process.
The terms of this Agreement are in addition to the End User Terms of use, Privacy Policy and other relevant documentation including any modification, alterations or updates located at transak.com. This Agreement and all policies and procedures that are incorporated by reference constitute the entire agreement between You and Transak for provision and use of the Services. Except where expressly stated otherwise in a writing executed between You and Transak, this Agreement will prevail over any conflicting policy or agreement for the provision or use of the Services. This Agreement sets forth Your exclusive remedies with respect to the Services. If any provision or portion of this Agreement is held to be invalid or unenforceable under Law, then it will be reformed and interpreted to accomplish the objectives of such provision to the greatest extent possible, and all remaining provisions will continue in full force and effect.
The rights and remedies of the parties under this Agreement are cumulative, and either party may enforce any of its rights or remedies under this Agreement, along with all other rights and remedies available to it at Law, in equity or under the Payment Method Rules. No provision of this Agreement will be construed against any party on the basis of that party being the drafter. Unless expressly stated otherwise, the use of the term “including” or “such as” is not to be interpreted as limiting the generality of the text preceding the term. The failure of either party to enforce any provision of this Agreement will not constitute a waiver of that party’s rights to subsequently enforce the provision.
All provisions of this Agreement that give rise to a party’s ongoing obligation will survive termination of this Agreement.
Both Parties agree to comply with the provisions set forth by the Financial Conduct Authority pertaining to financial promotion (‘Rules’). The following terms will apply to Partners registered in the United Kingdom and/or Partners registered outside the United Kingdom but serving to End Users in the United Kingdom.
a. Defined terms
You agree to the following definitions within these Terms:
“Financial Promotion” means an invitation or inducement to engage End-Users in the purchase of cryptocurrency.
“Inducement” means as a link in a chain where the chain is intended to ultimately lead to an agreement to engage in an investment activity.
“Incentive” means any monetary or non-monetary benefit that encourages End-Users to purchase cryptocurrency and is included but not limited to:
“Real Time Communication” means a communication made in the course of a personal visit, telephone conversation, chats, emails or other interactive dialogue.
“Non-Real Time Communication” means a communication that is not a Real Time Communication. Communications made by letter or e-mail or in a publication as a newspaper, journal, magazine or other periodical publication, a website, a television or radio programme or a teletext service) are non-real time communications.
“Relevant Financial Promotion” means a Financial Promotion where references are made to Transak and/or where there is an Inducement present to encourage an End User to purchase cryptocurrency with Us.
“Engaging in investment activity means” "entering or offering to enter into an agreement the making of which by either party constitutes a controlled activity as defined within the Financial Services and Markets Act 2000.
“Controlled activity means buying, selling, subscribing for or underwriting … qualifying cryptoassets … as principal or agent .
b. Requirements for communications of Relevant Financial Promotions: You agree to the following:
c. Fair, clear and not misleading: You shall not host, display, upload, or share any information or image which is false, inaccurate or misleading.
d. Incentivising End Users to purchase cryptocurrency: You will not offer incentives to End-Users residing in the United Kingdom: You will not offer any Incentive to End-Users based in the United Kingdom to purchase crypto assets via Transak. Incentive is defined in these Terms.If You offer any incentive to End-Users who are not residing in the United Kingdom, You must take appropriate steps to ensure End-Users based in the United Kingdom cannot benefit from the incentive
e. Monitoring Rights: Transak reserves the right to monitor the Partner platform to ensure compliance with the Rules. You agree to cooperate fully with Transak in the monitoring process. This includes providing access to relevant information, documents and any other information to facilitate compliance verification.
f. Amendment or removal of Relevant Financial Promotions: You agree to remove or amend any Relevant Financial Promotions at Transak’s request immediately within 48 hours following the request from Transak.
g. Risk Warnings: Transak reserves the right and its sole discretion to require You to post static risk warnings in accordance with the Rules as and when provided by Transak from time to time. Failure to agree could result in Transak requiring the removal of the Relevant Financial Promotion in accordance with these Terms.
h. Indemnity: The Partner shall indemnify, defend and hold harmless Transak and any directors, officers, employees and members of Transak from and against all claims, demands, proceedings, suits, and actions and all liabilities, losses, expenses, and cost (including legal and accounting fees and expenses) arising out of or in connection with or relating to any claim or dispute brought against Transak due to breach of Partner’s obligation under this section (Compliance with Rules).