Client enters into this Account Application and Agreement (“Agreement”) with Castle Currency Exchange Inc, (“CCFX”) solely acting as an introducer and providing an electronic trading platform to connect to our trading partner, Corpay acting as the currency dealer as of the date this document is executed by Client. Client is also required to accept Corpay’s TERMS AND CONDITIONS.
1. DEFINITIONS
1.1. Whenever used in this Agreement, unless inconsistent with the subject matter or context, the following terms shall have the following meanings:
1.2. “CCFX” means Castle Currency Exchange Inc. CastleFX means the online platform of Castle Currency Exchange Inc.
1.3. “Corpay” means the Corpay group of related companies, including parents, subsidiaries and affiliates, including, without limitation, Corpay, Cambridge, AFEX ULC and AFEX Inc.
1.4. “Client” means the party entering into this Agreement with CCFX and Corpay.
1.5. “Services” means CCFX’s provision of an electronic trading platform and Corpay’s provision of various foreign exchange, settlement and delivery products and services, including without limitation, risk management and hedging services.
2. CONDUCTING BUSINESS WITH CCFX
2.1. Agreement. This Agreement shall apply to allowable currency transactions facilitated through the Castle Currency Exchange online platform or phone communications directly to our trading partner Corpay.
2.2. Provision of Services. CCFX is solely acting as an introducer and providing an electronic trading platform to facilitate a connection to our Partner Corpay. Corpay is responsible for the currency transactions and fund remittance.
2.3. NO SPECULATIVE TRADING or DERIVATIVES. Client acknowledges and agrees that it is forbidden to conduct any trades for speculative purposes. Additionally, trading of options or derivatives is strictly prohibited under this agreement.
2.4. Trade Summary. Upon Client’s execution and Corpay’s acceptance of an Order, CCFX may issue a Trade Summary to Client. The Trade Summary is for informational purposes, a Trade Confirmation may be sent directly from Corpay.
2.5. Fees. Client understands CCFX will receive a revenue sharing fee for facilitating the online platform and managing the client.
2.6. Errors and Discrepancies. CCFX’s role will be to assist client and Corpay in its efforts of any reported errors.
2.7. Terms & Conditions Applies to CCFX. Client acknowledges and agrees that the following Corpay Terms & Conditions also apply to CCFX:
- 2.7.1. Section 2.6 — No Advice
- 2.7.2. Section 2.7 — Information Sources
- 2.7.3. Section 12 — ERRORS AND DISCREPANCIES
- 2.7.4. Section 14 — Online System Note: The Online System will be provided by CCFX.
- 2.7.5. Section 15 — Online System Security
- 2.7.6. Section 16 — Intellectual Property
- 2.7.7. Section 18 — TERM, SUSPENSION AND TERMINATION
- 2.7.8. Section 19 — REPRESENTATIONS AND WARRANTIES
- 2.7.9. Section 21 — USE OF INFORMATION, PRIVACY AND DISCLOSURE Note: Privacy Policy is available on website at www.castlefx.com
- 2.7.10. Section 22.1 — LIMITATION OF LIABILITY Note: Liability for CCFX. CCFX and its representatives have no liability under this Agreement provided it has used its best efforts in providing its service.
- 2.7.11. Section 22.4 — Indemnity
- 2.7.12. Section 23 — COMMUNICATION AND NOTICES
- 2.7.13. Section 24 — DISPUTE RESOLUTION
- 2.7.14. Section 25 — TERMS OF MEDIATION
- 2.7.15. Section 26 — GENERAL TERMS AND CONDITIONS