Definitions
“Account” means the electronic money account you open and maintain with Forenxio through the Website;
“Account Services” means e money and payment services provided by Forenxio to you;
“Authorised Person” means any person authorised by you to give us instructions in relation to the Account and/or Payment Services and/or to conclude Orders on your behalf;
“Branded Payment Engine Services” means the deliverable FX / payments facility, deliverable FX liquidity and international payments processing service provided via a branded version of our Payment Engine provided by Forenxio;
“Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in England;
“Client” means you the person who is contracting with us for the provision of the Services;
“Client Help Centre” means the information which is available online at http://help.forenxio.com;
“Client Support” means our client support service which is available by calling our help desk at +1 647-945-8161 during UK office hours to speak with a support representative or by sending an email to [email protected];
“Close Out” means any any action we may take to close out, cover or reduce our exposure in relation to the relevant Contract such as unwinding any hedging arrangements and any other such action we reasonably consider appropriate in the circumstances;
“Commercial Agreements” means any one or more of the agreements between you and us setting out the commercial terms for the provision of one or more of the Services;
“Contracts” means any one or more of the agreements between you and us for the sale, purchase, and delivery of currency;
“Confidential Information” means confidential information of the other party concerning the other party\’s business, plans, customers, clients, technology, services and products and other information held in confidence by the other party including all information in tangible or intangible form that is marked or designated as confidential or that, under the circumstances of its disclosure, should be considered confidential. Our Confidential Information will include, but not be limited to, the Forenxio Technology, and your Confidential Information will include, but not be limited to End Customer data Information will not be deemed Confidential Information if such information: (i) is known to the receiving party prior to receipt from the disclosing party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (ii) becomes known (independently of disclosure by the disclosing party) to the receiving party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (iii) becomes publicly known or otherwise ceases to be secret or confidential, except through a breach of these Terms of Use by the receiving party; or (iv) is independently developed by the receiving party. The receiving party may disclose Confidential Information pursuant to the requirements of a governmental agency or by operation of law, provided that it gives the disclosing party reasonable prior written notice sufficient to permit the disclosing party to contest such disclosure and it is not itself unlawful to give such notice;
“Data Protection Legislation” means the Data Protection Act 1998 (as amended from time to time);
“Durable Medium” means a medium which allows you to store information in a way accessible for future reference for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored;
“End Customer” means any person other than us who contracts with you, including without limitation any client you engage in connection with the Branded Payment Engine Services;
“Fees” shall mean the charges payable by you to us for Services;
“FCA” means the Financial Conduct Authority of the United Kingdom whose address is 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom; further information on the FCA can be obtained on the FCA\’s website at http://www.fca.org.uk;
“Foreign Exchange Services” means the foreign exchange services provided by Forenxio;
“Forward Contracts” means any one or more Contracts under which currency is bought and sold for delivery at a fixed future time;
“Group Companies” means in relation to a company those companies which are subsidiaries, holding companies or subsidiaries of any holding company of such company, where the terms \”subsidiary\” and \”holding company\” bear the meaning given to them in section 1159 of the Companies Act 2006;
“Insolvency Event”means in relation to you, or any of your Group Companies, affiliates, shareholders successors and/or assignees:
- If such person dies, becomes of unsound mind, becomes insolvent or a bankruptcy petition is presented against any such person;
- Any steps are taken to appoint an administrator, judicial factor or similar officer to any such person or to commence the winding up or dissolution of any such person or to otherwise apply to the court for a moratorium or make a proposal to creditors for a voluntary arrangement or any such person grants a trust deed for creditors or takes any action with a view to the readjustment, rescheduling forgiveness or deferral of any part of any such persons indebtedness or any such person enters into any arrangement, compromise or composition with or assignment for the benefit of its creditors or any class of them (except for the purposes of a solvent reconstruction or amalgamation), or a receiver, receiver and manager, or other controller, administrator or similar officer to be appointed with respect to, or takes control of, the assets or
“Margin” a payment or payments made by you as a deposit to secure an Order, including additional margin and increased margin;
“Maturity Date” the date specified by us to you in the Contract note as the maturity date;
“Order” means the accepted commercial terms of a Contract (which will incorporate these Terms of Use);
“Payment Engine” means the Forenxio online dealer payment engine that provides the functionality and connectivity described in the document entitled “Description of Services – Terms of Use”
“Payment Engine Services” means the access to information and market data via the Payment Engine provided by Forenxio to you;
“Payment Services” means the execution of payment services on your behalf where such payment services are with the scope of the Regulations applicable to us and for the avoidance of doubt excluding own account payments made to you and by you in connection with the Foreign Exchange Services and withdrawals made by you from an Account;
“Portal” is either the “user interface” on the Website or the “API Links” depending on how you have registered with us to use the Services and in either case as such process or operating procedure may be amended or changed by us from time to time;
“Regulations” means the Electronic Money Regulations 2011 and the Payment Services Regulations as (as amended from time to time);
“Services” means the Account Services and/or the Payment Engine Services and/or Foreign Exchange Services;
“Website” shall mean the website available at www.forenxio.com;
“Terms of Use”, shall mean these terms and conditions including the schedules and any other terms and conditions referred to herein including the Commercial Agreement(s) and Privacy Policy and the Client Help Centre all asamended from time;
“You”, “your” shall mean you the person who is contracting with us for the provision of the Services.