Terms and Conditions

1. Services

CobbyPay may, at its discretion, provide or facilitate foreign exchange transactions, domestic and international money transfers, payment collection and payout services, merchant payment services, virtual currency purchase, sale, transfer or custody-related services, and related account, wallet or payment functionality.

The availability of any service is not guaranteed. We may refuse, delay, reverse, suspend, limit or discontinue any service or transaction where we consider it necessary or prudent to do so, including for legal, regulatory, compliance, operational, banking, liquidity, sanctions, fraud prevention, security or risk-management reasons.

Where any service depends on a bank, payment processor, liquidity provider, blockchain network, custodian, correspondent institution, virtual asset service provider or other third party, CobbyPay is not responsible for any delay, rejection, fee, suspension, loss or failure caused by that third party, except to the extent liability cannot be excluded under applicable law.

2. Client Eligibility and Authority

You may use the services only if you have legal capacity to do so and are not prohibited from using them under applicable law. If you act for a company, partnership, trust or other organization, you represent that you are duly authorized to bind that organization and to provide instructions on its behalf.

You must not use the services for any unlawful, fraudulent, deceptive, abusive or restricted purpose. You must not access or use the services for or on behalf of any person who is subject to sanctions, located in a prohibited jurisdiction, or otherwise restricted under Canadian law or any other law applicable to CobbyPay.

3. Client Identification, AML and Compliance

CobbyPay is subject to Canadian anti-money laundering and anti-terrorist financing obligations, including obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and related regulations administered by FINTRAC.

You agree to provide all information and documents requested by CobbyPay for identification, verification, beneficial ownership, source of funds, source of wealth, sanctions screening, transaction monitoring, risk assessment, tax, fraud prevention and other compliance purposes. Such information may include personal identification, corporate records, ownership and control information, bank statements, invoices, contracts, wallet information, transaction history, proof of address and explanations regarding the purpose and nature of a transaction.

CobbyPay may refuse to onboard a Client, decline a transaction, freeze or restrict access to services, request additional information, report activity to competent authorities, or terminate the relationship where information is incomplete, inaccurate, inconsistent, suspicious, outdated or not provided within the required time.

You acknowledge that CobbyPay may be legally prohibited from informing you of certain compliance actions, reports, reviews or investigations.

4. Instructions and Transactions

Any instruction submitted through your account, credentials, authorized email address, API key, electronic channel, signed document or other agreed method may be treated by CobbyPay as valid and authorized.

You are solely responsible for ensuring that all transaction information is accurate and complete, including beneficiary details, bank account information, payment references, currency, amount, wallet address, blockchain network and any supporting documentation. CobbyPay is not liable for loss arising from incorrect, incomplete, outdated or misleading instructions provided by you.

CobbyPay may process instructions only during applicable business hours and subject to cut-off times, liquidity, banking availability, blockchain network conditions, compliance review and internal approval. A transaction is not final merely because it has been submitted or acknowledged.

5. Foreign Exchange

Foreign exchange rates may change without notice. Any displayed or quoted rate is indicative unless expressly confirmed by CobbyPay as final. CobbyPay may apply a spread, margin or fee to an exchange rate.

Once an exchange transaction has been executed, it may not be cancelled, reversed or amended except with CobbyPay’s consent and subject to applicable costs, market movements and third-party charges. You bear the risk of exchange rate fluctuation between submission, review, approval and execution.

6. Money Transfers and Payment Services

Money transfers and payment services are subject to recipient bank rules, intermediary bank rules, payment network rules, local laws, sanctions controls and compliance review. CobbyPay does not guarantee that a payment will be received by a specific time unless expressly agreed in writing.

Payments may be delayed, rejected, returned or reduced by fees imposed by intermediary banks, recipient banks, payment schemes or other third parties. You remain responsible for all fees, charges, reversals, chargebacks, penalties and losses arising from payment instructions submitted by you.

7. Virtual Currency

Virtual currency involves significant risk. Prices may change rapidly and may be affected by market conditions, liquidity, technology failures, cyber incidents, forks, network congestion, validator or miner behavior, regulatory action and other events outside CobbyPay’s control.

Virtual currency transactions are generally irreversible once submitted to a blockchain network. You are responsible for verifying wallet addresses, destination tags, memos, blockchain networks and transfer instructions. CobbyPay is not liable for loss caused by sending virtual currency to an incorrect address, unsupported network or incompatible wallet.

CobbyPay does not provide investment, legal, tax or financial advice and does not represent that any virtual currency is suitable for you.

8. Fees

You agree to pay all applicable fees, spreads, margins, charges, network costs, banking costs, processing fees, compliance review fees and third-party charges associated with the services.

Fees may be disclosed in a fee schedule, transaction quote, invoice, platform notice or separate agreement. CobbyPay may amend fees from time to time. Unless otherwise required by law or expressly agreed in writing, fees are non-refundable.

9. Security

You must keep all account credentials, passwords, devices, API keys, two-factor authentication tools and security information secure and confidential. You must notify CobbyPay immediately if you suspect unauthorized access, compromise, fraud, loss of credentials or misuse of your account.

You are responsible for all activity conducted through your credentials unless and until CobbyPay has received notice of compromise and has had a reasonable opportunity to act.

10. Restricted Activities

You must not use the services in connection with money laundering, terrorist financing, sanctions evasion, fraud, scams, market manipulation, illegal gambling, weapons, human trafficking, exploitation, ransomware, darknet markets, unlicensed financial services, shell banks, cryptocurrency mixers, anonymity-enhancing services, or any business or activity prohibited by law or by CobbyPay’s risk policies.

CobbyPay may maintain and amend a list of prohibited jurisdictions, industries, persons and transaction types. CobbyPay may reject any transaction involving a jurisdiction, sector, person or activity that it considers high risk, even if not expressly listed.

11. Suspension and Termination

CobbyPay may suspend, restrict or terminate your access to the services immediately where required by law, where instructed by a competent authority, where you breach these Terms, where we suspect fraud, money laundering, terrorist financing, sanctions exposure, misuse, security compromise or unlawful activity, or where continued service would expose CobbyPay to unacceptable legal, regulatory, operational, financial or reputational risk.

You may request termination of your relationship with CobbyPay by written notice. Termination does not affect accrued rights, outstanding obligations, unpaid fees, pending investigations, reporting duties, recordkeeping obligations or provisions intended to survive termination.

12. Records and Privacy

CobbyPay may collect, use, disclose and retain personal information and business information as described in its Privacy Policy and as required for identification, verification, transaction processing, compliance, fraud prevention, reporting, audit, legal and regulatory purposes.

CobbyPay may retain records after the end of the relationship where required or permitted by Canadian law.

13. Limitation of Liability

To the maximum extent permitted by law, CobbyPay is not liable for indirect, incidental, special, punitive, exemplary or consequential damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of goodwill, market loss, loss arising from exchange rate movements, virtual currency volatility, blockchain failure, third-party service failure, payment network failure, banking delay, sanctions screening, compliance review or regulatory action.

Nothing in these Terms excludes liability that cannot be excluded under applicable law.

14. No Warranty

The services are provided on an “as is” and “as available” basis. CobbyPay does not warrant that the services will be uninterrupted, error-free, secure, timely or available in any particular jurisdiction.

CobbyPay does not warrant the performance, value, liquidity, legality or suitability of any currency, payment method, virtual currency, blockchain network or third-party service.

15. Complaints

Complaints may be submitted to CobbyPay at:

Email: support@cobbypay.com

CobbyPay will review complaints in accordance with its internal procedures and applicable Canadian legal and regulatory requirements.

16. Amendments

CobbyPay may amend these Terms from time to time by posting an updated version on its website or providing notice by other reasonable means. Continued use of the services after the effective date of an amendment constitutes acceptance of the amended Terms.

17. Governing Law

These Terms and any dispute, claim or controversy arising from or relating to them, the website, the platform or the services shall be governed by the laws of Canada and the laws of the province in which CobbyPay Ltd. is incorporated or principally operates, without regard to conflict of law rules.

Subject to any mandatory consumer protection law, the parties submit to the exclusive jurisdiction of the courts of that province.

18. General

If any provision of these Terms is found invalid, unlawful or unenforceable, the remaining provisions remain in full force and effect. No failure or delay by CobbyPay in exercising any right constitutes a waiver. You may not assign your rights or obligations without CobbyPay’s prior written consent. CobbyPay may assign or transfer its rights and obligations where permitted by law.

These Terms, together with the Privacy Policy and any applicable service agreement, constitute the agreement between you and CobbyPay concerning the services.