1. WELCOME TO AZASEND
This contract is a legally binding agreement between you and Azasend (operated by RETECH LABS) (“Azasend,” “we,” “us,” or “our” as applicable) and covers all aspects of your use of our Services, which include the website, app, and any other materials produced by Azasend. These terms apply in full force. By registering for and opening an Azasend Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them. You also accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations, and requirements of the jurisdiction in which you live that may be applicable to your use of the Azasend Services and/or your Azasend Account.
Azasend reserves the right to amend or update these Terms at any time by posting the revised version on its website. Continued use of the Services after such posting shall constitute your acceptance of the revised Terms.
2. SCOPE OF AGREEMENT
This Terms of Service is an Agreement between you and Azasend. It sets forth the terms and conditions that shall govern the use of the Platform and the services. It details Azasend’s obligations to you.
Our Services permit you to move money in supported currencies, send or receive money into your Azasend Balance, keep amounts in your Azasend Balance, convert currency balances to balances in other supported currencies, pull out funds held in your Azasend Balance, and send funds to recipients. We carry the sole authority to refuse to accept any user or to complete any command to transmit, receive, send, withdraw, or convert money held in your Azasend Account at any time.
3. RISKS
You should also ensure that you understand the risks involved in money transfers and financial transactions. You accept and agree that you are solely responsible for any decision to use your Azasend Account. Azasend does not, and will not, offer you any financial advice in connection with your use of, or transactions you conduct on, our platform. There may be additional risks not identified in these Terms.
Such risks include, without limitation, market volatility and price fluctuations, changes in laws and regulatory frameworks, cyber threats, fraud, phishing attacks, technological failures, blockchain vulnerabilities, and other operational risks that may impact your transactions or your use of the Services.
4. REGISTRATION
To use Azasend, you have to create an Azasend account by registering. To register, you will provide us with certain information such as your email, first name, last name, business name, and phone number, and we may seek to verify your information (by ourselves or through third parties), after which we will approve your account unless deemed risky. You permit us to do all these.
In the event that you change any information provided to us at registration, including your business name, address, financial institution, mode of payments, or the products and services you offer, or where a corporate restructuring occurs, you agree to notify us within 14 days of such change. We may be unable to respond if you contact us from an address, telephone number, or email account that is not registered with us. Azasend reserves the right to suspend or restrict your account until updated information is verified if you fail to notify us of changes in a timely manner.
5. IDENTITY VERIFICATION
Azasend implements and maintains the highest standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing.
To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening an Azasend Account. The nature and extent of the Identity Verification required will depend on your transaction limits. In certain circumstances, Azasend may also perform enhanced due diligence (“EDD”) procedures in relation to your Azasend Account. You accept and agree that you will remain subject to such procedures at all times.
Azasend reserves the right to, at any time:
- restrict or suspend your Azasend Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or
- terminate your Azasend Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.
You accept and agree that there may be delays in accessing your Azasend Account or in carrying out transactions through your Azasend Account while we undertake any Identity Verification and/or EDD procedures. Failure to comply with verification or AML/CTF requirements, including requests for information or documentation, may result in permanent suspension or termination of your account.
6. ACCOUNT SECURITY
You are solely responsible for maintaining adequate security and control of any email IDs, passwords, or other details you use to access your Azasend Account and Services. You agree not to allow anyone else to have or use your password details and comply with all reasonable instructions regarding account access and security instructions. In the event you share your password details, Azasend will not be liable to you for losses or damages. You will also take all reasonable steps to protect the security of the personal electronic device through which you access Azasend’s services (including, without limitation, enabling 2FA, using PIN and/or password-protected personally configured device functionality to access Azasend’s services and not sharing your device with other people). Immediately change your password and contact Azasend customer support if:
- anyone asks for your password, OTP, or any other security-related aspect of your Azasend Account.
- your email address becomes compromised.
- you suspect your Azasend Account or login details, including your password or any other security features, are stolen, lost, used without authorization, or otherwise compromised.
- Your transaction history for your Azasend Account shows transactions that you did not initiate.
We may suspend your Azasend Account or otherwise restrict its functionality if we have concerns about the security of the Azasend Account or any of its security features; or potential unauthorized or fraudulent use of your Azasend Account or any of its security features.
7. AGE RESTRICTION
Our website and services are directed to people aged 18 and above. Therefore, you are only permitted to use the Services if you are 18 or older. We do not knowingly engage people younger than the age of 18.
8. SOFTWARE LICENSE
For businesses, we hereby grant you a revocable, non-exclusive, non-transferable license to use Azasend’s APIs, developer’s toolkit, and other software applications (the “Software”) in accordance with the documentation accompanying the Software. This license grant includes all updates, upgrades, new versions, and replacement software for your use in connection with Azasend’s services. If you do not comply with the documentation and any other requirements provided by Azasend, then you will be liable for all resulting damages suffered by you, Azasend, and third parties. Unless otherwise provided by applicable law, you agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the Software. Upon expiration or termination of this Agreement, you will immediately cease all use of any Software.
All intellectual property rights in the Platform and Software remain the exclusive property of Azasend.
9. WARRANTIES AND REPRESENTATIONS
You represent and warrant to Azasend that:
- You have the full power, authority, regulatory approval, and corporate authorization to enter into, execute, deliver, and perform this Agreement.
- You are duly organized, authorized, and in good standing under the laws of any state, region, or country of your organization. You are duly authorized to do business in all other states, regions, or countries in which your business operates.
You further represent and warrant that you are not subject to sanctions or restrictions administered by any government or international body, including but not limited to OFAC, the United Nations, or the European Union.
10. CHARGES AND FEES
You agree to pay us for the services we render. Our Fees will be calculated as demonstrated on the Pricing page on the website. Subject to the terms of this Agreement, Azasend will send to your designated bank or card settlement account (“Bank Account”) all amounts settled and due to you from your transactions, minus our stated fees, any Reversals, Invalidated Payments, Chargebacks, Reversals, Refunds, or other amounts that you owe to Azasend under this Agreement (“Payout”). Should either Party in good faith have cause to dispute any amount appearing on an invoice submitted by the other Party pursuant to this Agreement (“Affected Invoice”), the affected Party shall, within forty-eight (48) hours of receipt of the Affected Invoice, notify the other Party in writing, of such dispute.
Azasend reserves the right to revise its Fees from time to time. Any changes will be published on our website and shall take effect immediately upon posting. Your continued use of the Services constitutes acceptance of such updated Fees.
11. LIMITATION OF LIABILITY FOR HACKING, CYBER INCIDENTS, AND THIRD-PARTY BREACHES
To the fullest extent permitted by applicable law, Azasend and its affiliates, directors, officers, employees, agents, and service providers shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of funds, data, profits, or other intangible losses, arising out of or in connection with:
- Unauthorized access, hacking, cyber-attacks, or security breaches affecting your Azasend Account, the Services, or any cryptocurrency or financial transactions conducted through the Platform, including but not limited to malware attacks, phishing, distributed denial-of-service (DDoS) attacks, consensus-based attacks, or vulnerabilities in third-party software, networks, or blockchains.
- Any loss or theft of cryptocurrencies or funds due to your failure to maintain the security of your account credentials, private keys, or devices, including failure to enable two-factor authentication (2FA) or follow other recommended security measures.
- Technological failures, network forks, software bugs, or vulnerabilities in the Azasend Platform or underlying blockchain networks that are beyond Azasend’s reasonable control.
- Actions or omissions of third parties, including but not limited to exchanges, wallet providers, or other service providers, that interact with your Azasend Account or the Services.
- Losses, damages, delays, or disruptions (including but not limited to frozen accounts, withheld payouts, or blocked transactions) arising from or related to hacking incidents, breaches, or unauthorized access affecting third-party financial institutions (such as banks, payment service providers, or settlement agents) used in connection with the Services. In the event that assets originating from such third-party institutions are identified as compromised or linked to fraudulent or unauthorized activity, Azasend reserves the right, in its sole discretion, to suspend, freeze, or block any related transactions or accounts in compliance with applicable anti-money laundering (AML) and counter-terrorist financing (CTF) obligations.
Azasend implements security measures consistent with international standards to protect the Platform and your account but does not guarantee that the Services will be uninterrupted, error-free, or immune to cyber threats. You acknowledge that the nature of cryptocurrencies and blockchain technology involves inherent risks, including but not limited to volatility, cybercrime, and regulatory uncertainty, and you assume all such risks when using the Services.
Azasend shall only be liable for losses resulting directly from its gross negligence or willful misconduct, as determined by a court of competent jurisdiction or, where applicable, through arbitration. You agree to indemnify and hold harmless Azasend and its affiliates from any claims, losses, or damages arising from your use of the Services in a manner inconsistent with these Terms or applicable law.
Any disputes arising from or related to this Section shall be resolved through binding arbitration in accordance with the rules of the International Chamber of Commerce (ICC), with the seat of arbitration in Singapore, unless otherwise required by applicable law. The arbitration shall be conducted in English, and the decision of the arbitrator shall be final and binding.
12. TERMINATION AND SUSPENSION
Azasend reserves the right, in its sole discretion, to suspend, restrict, or terminate your Account or access to the Services at any time, with or without notice, if: (i) you have violated these Terms; (ii) your activities pose a risk to Azasend, other users, or third parties; (iii) required by applicable law, regulation, or governmental authority; or (iv) necessary to protect the integrity and security of the Platform. Termination does not affect Azasend’s rights or remedies under law or equity.
13. NO INVESTMENT ADVICE
You acknowledge and agree that Azasend does not provide investment, financial, tax, legal, or accounting advice. All content and materials provided through the Services are for informational purposes only. You are solely responsible for evaluating the merits and risks of any transaction and for obtaining independent professional advice where appropriate.
14. FORCE MAJEURE
Azasend shall not be liable or responsible for any failure or delay in performance resulting from events beyond its reasonable control, including but not limited to acts of God, natural disasters, pandemics, war, terrorism, riots, labor disputes, power failures, technical breakdowns, changes in laws or regulations, or the actions of governmental or regulatory authorities.
15. TAXES
You are solely responsible for determining, reporting, and paying any applicable taxes arising out of your use of the Services, including but not limited to income, value-added, sales, use, or similar taxes. Azasend shall not be responsible for determining whether taxes apply to your transactions, nor for collecting, reporting, or remitting any taxes, except where explicitly required by law.
16. INDEMNIFICATION
You agree to indemnify, defend, and hold harmless Azasend, its affiliates, directors, officers, employees, agents, and service providers from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys’ fees) arising out of or related to: (i) your violation of these Terms; (ii) your violation of any applicable law or regulation; (iii) your negligent or willful misconduct; or (iv) your infringement of the rights of any third party.
17. GOVERNING LAW AND DISPUTE RESOLUTION
These Terms and any disputes or claims arising out of or in connection with them shall be governed by and construed in accordance with applicable law, without regard to conflict of law principles. Unless otherwise required by applicable law, any dispute, controversy, or claim shall be referred to and finally resolved by arbitration under the Rules of the International Chamber of Commerce (ICC). The seat of arbitration shall be determined by Azasend in its sole discretion, and the arbitration shall be conducted in English. The arbitral award shall be final and binding. Nothing in this clause shall prevent either party from seeking interim or injunctive relief in any competent court, where necessary to protect rights pending completion of the arbitration process.
18. CLASS ACTION WAIVER
To the fullest extent permitted by applicable law, you agree that any dispute resolution proceedings will be conducted only on an individual basis and not as part of a class, consolidated, or representative action. You hereby waive any right to participate in a class action lawsuit or class-wide arbitration against Azasend or its affiliates. This waiver shall not apply where prohibited by applicable law.
19. MISCELLANOUS
Entire Agreement: These Terms constitute the entire agreement between you and Azasend.
Severability: If any provision is found invalid, the remaining provisions remain enforceable.
Assignment: You may not assign or transfer your rights under these Terms without Azasend’s consent. Azasend may assign its rights without restriction.
Waiver: Failure to enforce any right shall not constitute a waiver of that right.
