Compliance

TERMS OF USE - INTERNATIONAL MONEY TRANSFER SERVICES AGREEMENT

THE FOLLOWING DESCRIBES THE TERMS ON WHICH CAMBIOREAL INCORPORATED OFFERS INTERNATIONAL MONEY TRANSFER SERVICES.

This agreement ("Agreement") constitutes a legal agreement between any person or entity (“User”)  and CambioReal Incorporated ("CambioReal") and applies to your use of the CambioReal money transfer service (“Services”) and any related products and services available through www.CambioReal.com. By soliciting and/or using the Services, the Customer agrees to be bound by the conditions of this Agreement as all other terms, policies, FAQ, and guidelines, including but not limited to our Privacy Policy, made available on the CambioReal website (www.CambioReal.com). If you do not agree to these terms, please do not access or use our Services.

For additional information about the Services, please also consult the CambioReal FAQ page or email CambioReal Customer Support Department directly at suporte@cambioreal.com.

Cambioreal Inc. is a registered company in the United States under registration number 31000220103748 with FINCEN (Financial Crimes Enforcement Network). The company is headquartered at 30 Prestbury Sq, Suite 323 / Newark, DE 19713.

This Agreement was last modified on February, 19 2024.

1. DEFINITIONS

“Money Transfer” means a direct transfer of funds paid by the Sender, from the US to countries served by CambioReal;

“Recipient” means one that receives funds through the Services;

“Reversed Payments” mean any payment that for any reason is refunded, reversed, withdrawn or refused, for any reason.

“Sender” means one that send money through the Services;

“Services” mean international money transfer services provided by CambioReal.

2. DESCRIPTION OF THE SERVICES

1. CambioReal is a registered company in the United States and provides Money Transfer Services to Users interested in sending money abroad.

2. The Services allow Users to send international money transfer from the US to other countries served by CambioReal.

3. In order to use the Services, the User, when acting as a sender, must register for an account. Users may only hold one account.

4. CambioReal acts as a facilitator to help the User accept funds from and provide funds to third parties. CambioReal acts based upon the User direction and requests to use the Services.

5. CambioReal will at all times hold User’s funds separate from its corporate funds, will not use User’s funds for its operating expenses or any other corporate purposes, and will not voluntarily make funds available to its creditors in the event of bankruptcy or for any other purpose.

6. The User acknowledges that (i) CambioReal is not a bank and the Services are payment processing services rather than banking services, and (ii) CambioReal is not acting as a trustee, fiduciary or escrow with respect to User’s funds, but is acting only as a custodian.

7. The User will not receive interest or other earnings on the funds that CambioReal handles. CambioReal may earn interest on those funds, or may receive a reduction in fees or expenses charged for banking services by the banks that hold User’s funds.

8. CambioReal is only a money remittance service provider. CambioReal acts as a money remittance service provider by creating, hosting, maintaining and providing our Services via the Internet. CambioReal does not have any control over any products or services that are paid for with the Services.

3. ELIGIBILITY

1. The Services are only available to individuals or businesses that can form legally binding contracts under applicable law. 

2. The Services are not available to minors (under 18), persons or businesses that are suspended from CambioReal services (regarding the ones described in these terms or in any other services provided by CambioReal), or to persons or businesses that present an unacceptable level of credit or compliance risks.

3. User may not submit or receive a Money Transfer on behalf of another person or entity.

4. If CambioReal identifies that a User has more than one account, CambioReal reserves the right to merge or terminate one or more of the accounts, limit the User's use of the Services, or refuse their continued use of the Services.

4. PAYMENTS AND TRANFERS

1. In order to send payments through CambioReal’s Services the User is required to provide CambioReal with a number of forms of identification as further described and protected in our Privacy Policy. CambioReal requires this information to authenticate User’s identity and to determine how much User may send with their account. Additional information may be required depending the User’s location and other factors. Based on the information provided, CambioReal will determine the maximum daily amount the User may send using the Services. 

2. With each Money Transfer the User submits they are agreeing to pay CambioReal a service fee ("Service Fee"), in addition to the Transfer amount. All Service Fees will be displayed before the Transfer confirmation. If User submits a transaction that results in CambioReal being charged NSF fees, chargeback fees, or other similar costs, you agree to reimburse CambioReal for all such fees.

3. In order for CambioReal to process the Money Transfer the User authorizes CambioReal to charge any of the payment instruments included in User’s payment profile. If the payment fails User authorizes CambioReal to re-try one or more times using the same Payment Instrument. User warrants that they are an authorized and lawful user of the payment instrument(s).

4. Other Charges. CambioReal is not responsible for fees that may be imposed by financial institutions associated with User’s payment instruments. CambioReal  is not responsible for any NSF fees, chargeback fees, or other, similar charges that might be imposed on the User by their bank, credit card issuer, or other provider.

5. Refused Payments. When the Sender sends a payment to a third party through the Services, the Recipient is not required to accept the payment, even if the Recipient is already registered with CambioReal. The recipient may return the payment or, in some cases, use the CambioReal Service to deny payments. Any payments sent through CambioReal that are denied or unclaimed by a Recipient will be returned to you on the earlier of: (a) the date of such denial, or (b) 30 days after the date the payment is sent. Applicable Fees will not be returned.

6. Electronic Transfers. When User makes a payment through CambioReal that is funded with Instant Transfer, and when User initiate an "Add Funds" transaction, User is requesting an electronic transfer from User’s bank account. Upon such request, CambioReal will make electronic transfers via the Automated Clearing House (ACH) system from User’s U.S. bank account in the amount they specify. User agrees that such requests constitute your authorization for such transfers. CambioReal will never make transfers from User’s bank account without your authorization.

7. CambioReal will complete your payment transfer by first debiting User’s balance (if any). If at the time User authorizes the payment User has sufficient balance to make the payment, CambioReal will, at this time, debit an amount equal to the payment from User’s balance and highlight the transaction as pending. If User does not hold a sufficient amount in their balance at the time the payment is authorized, CambioReal will complete the payment transfer by firstly debiting User’s balance (if any) at the time User made the authorization. The transaction will be highlighted as pending. CambioReal will subsequently obtain the remaining amount by debiting User’s registered bank account, which User specify at the time of authorization as their back up funding source at the time the payment is processed.

5. COMPLIANCE AND SECURITY

1. In order to use the Services,  the User is required to comply with this Agreement. By using the Services, the User acknowledges and agrees to adhere to all provisions outlined herein.

2. Upon submission of the User's application, CambioReal’s compliance team will evaluate the provided information and documentation to ensure compliance with internal policies and applicable laws and regulations.

3. Identity Authentication. CambioReal uses many techniques to identify the Users when they register on our site. Verification of Users is only an indication of increased likelihood that a User's identity is correct. The User authorize CambioReal, directly or through third parties, to make any inquiries considered necessary to validate User’s registration. This may include ordering a credit report and performing other credit checks or verifying the information User provides against third party databases. However, because User verification on the Internet is difficult, CambioReal cannot and does not guarantee any User's identity.

4. CambioReal may exercise its discretion to deny services either during the application process or after the User’s register has been activated. In such cases, CambioReal shall promptly notify the User of its decision and provide reasons for the denial, to the extent feasible and permissible under applicable laws and regulations.

5. The User agrees not to use the Services to offer, sell, or promote any products or services that are prohibited, illegal, or restricted by applicable laws, regulations, or the terms of this Agreement. This includes, but is not limited to, products or services that involve illegal substances, counterfeit goods, weapons, gambling, adult content, or any other activity or content that violates legal or ethical standards. CambioReal reserves the right to determine the eligibility of specific products or services and may request additional information or documentation from the User to ensure compliance. Any violation of this clause may result in the immediate suspension or termination of the User's account and the withholding of funds.

6. Credit Report. User agrees that CambioReal may order and review your credit report with the sole purpose of assessing your fitness to hold a CambioReal account and/or your ability to use the Service or features thereof.

6. REPRESENTATIONS AND WARRANTIES

1. The User declares that the transmitted funds are not proceeds of money laundering, financing of terrorist activities, or other activities prohibited by domestic and international law. CambioReal works in conjunction with authorities in the United States and Brazil to prevent attempts of financial fraud. CambioReal will spare no efforts to bring to justice all those responsible for any attempt of financial fraud. In the United States, fraudsters will be prosecuted civilly for any damages caused and criminally for the crime of financial fraud; in Brazil, recipients of fraudulent remittances will be prosecuted civilly for any damages caused and criminally for the crimes of fraud, conspiracy, and crimes against the financial system.

2. In the event that User have a dispute with one or more Users, the User release CambioReal (and it’s officers, directors, agents, subsidiaries, joint ventures and employees) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.

3. No Warranty. CAMBIOREAL, ITS PARENT, SUBSIDIARIES, EMPLOYEES, AGENTS AND AFFILIATES PROVIDE THE SERVICES "AS IS" AND WITHOUT ANY WARRANTY OR CONDITION, EXPRESS, IMPLIED OR STATUTORY. CAMBIOREAL, IT’S PARENT, SUBSIDIARIES, EMPLOYEES, AGENTS AND AFFILIATES SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.

4. Limitation of Liability: IN NO EVENT SHALL CAMBIOREAL BE LIABLE TO THE MERCHANT FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOST PROFITS, LOSS OF BUSINESS, OR LOSS OF DATA, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE USE OF THE SERVICES, EVEN IF CAMBIOREAL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. CAMBIOREAL’S LIABILITY, AND THE LIABILITY OF IT’S PARENT, SUBSIDIARIES, EMPLOYEES AGENTS AND AFFILIATES, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT  DAMAGES.

5. CAMBIOREAL ACTS AS A PAYMENT FACILITATOR AND SHALL NOT BE HELD RESPONSIBLE OR LIABLE FOR ANY SERVICES NOT PROVIDED OR PRODUCTS THAT ARE NOT DELIVERED OR ARE RETAINED BY CUSTOMS FOR ANY REASON.  CAMBIOREAL SHALL NOT BE LIABLE FOR ANY LOSSES, DAMAGES, OR LIABILITIES ARISING FROM NON-DELIVERY OR CUSTOMS RETENTION OF PRODUCTS.

6. Indemnification. User agrees to indemnify and hold CambioReal, its parent, subsidiaries, agents, affiliates, officers, directors and employees harmless from any claim or demand (including attorneys' fees) made or incurred by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party relating to your use of the Service.

7. By using the Services in a manner that violates this Agreement, User’s account will be subject to limitation or immediate termination.

8. If User uses the Services in a manner that violates this Agreement, CambioReal may incur substantial liability and/or suffer significant damages, including (without limitation) fines and other related expenses from its payment processors and service providers. By buying or selling goods or services (including access to content), or in any way acting, in contravention of this Agreement, including the Restricted Activities section of this Agreement, the User acknowledge liability to CambioReal for any and all damages suffered by CambioReal. Without limiting the foregoing, User agrees to reimburse CambioReal for any and all costs, expenses, and fines levied on CambioReal by its payment processors, service providers, regulatory agencies, and/or any other third party as a result of your activities.

9. User agrees that, if either you or CambioReal commence litigation or arbitration in connection with this Agreement, the prevailing party is entitled to recover reasonable attorneys’ fees and any other costs incurred in such proceeding in addition to any other relief to which the prevailing party may be entitled.

7. THIRD-PARTY SERVICE PROVIDERS

1. CambioReal may utilize third-party services, including payment processors, to facilitate transactions and process payments on behalf of the User. The Useracknowledges and agrees that CambioReal may share necessary data with these third-party service providers to the extent strictly required for the provision of the Services.

2. CambioReal shall not be liable for any actions, omissions, failures, or damages caused by third-party service providers, including payment processors. The User understands and agrees that third-party service providers have their own privacy policies, terms of service, and security practices for which the payment facilitator is not responsible.

3. The User acknowledges that third-party service providers may collect, store, and process Personal Data of end-users, including payment information and other transaction-relevant information. 

4. The User agrees to indemnify and hold CambioReal harmless from any damages, losses, claims, or liabilities arising out of or related to the services provided by third-party service providers. CambioReal shall not be responsible for any issues, failures, or interruptions in the services of third-party service providers.

5. When Transfer are being processed by Cybrid, you agree with the following Terms: https://20592480.fs1.hubspotusercontent-na1.net/hubfs/20592480/Legal/Cybrid_User_Agreement_25OCT2023.pdf

8. MISCELLANEOUS

1. Termination or Closing Accounts. Users may close their accounts at any time by submitting a written request to CambioReal’s Customer Support Department at suporte@cambioreal.com. Upon closure of an account, any pending transactions will be cancelled and any balances will be forfeited. Any funds that are being held in custody at the time of closure, less any applicable fees, will be paid to User by any method provided by CambioReal, assuming all withdrawal related authentication requirements have been fulfilled (for example, Users may not use closure of your account as a means of evading withdrawal limits on new unverified Users). Users may not use closure accounts as a means of evading investigation - if an investigation is pending at the time User closes their account, CambioReal may continue to hold their funds for up to 180 days as appropriate to protect CambioReal against the risk of reversals. If User are later determined to be entitled to some or all of the funds in dispute, CambioReal will release those funds to the User. The User will remain liable for all obligations related to their account even after such account is closed. If User does not access their account for a period of three years, it will be terminated. After the date of termination, CambioReal will use the information User provided to try to send the User any funds that we are holding in custody for them. If that information is not correct, and we are unable to complete the payment to the User, the funds will be subject to applicable state laws regarding escheat of unclaimed property.

2. Without limiting other remedies, CambioReal may update inaccurate or incorrect information provided to us, contact User by means other than electronically, immediately warn our community of User’s actions, place a hold on funds in User’s account, limit funding sources and payments, limit access to an account and any or all of the account's functions (including but not limited to the ability to send money or making withdrawals from an the account), limit withdrawals, indefinitely suspend or close your account and refuse to provide our Services to you if: (a) User breaches this Agreement or the documents it incorporates by reference; (b) CambioReal is unable to verify or authenticate any information User provide to us; (c) CambioReal believes that User’s account or activities pose a significant credit or fraud risk; (d) CambioReal believes that User’s actions may cause financial loss or legal liability for them, our users or CambioReal; or (e) User’sr use of their CambioReal account is deemed by CambioReal, Visa, MasterCard, American Express, or Discover to constitute abuse of the credit card system or a violation of credit card rules, including (without limitation), using the CambioReal system to test credit card behaviors. Even if they have been recorded as completed in the Recent Activity or History Transaction Log of User’s CambioReal account, transactions are not considered completed until the funds have been charged to the customer's funding source (for payments) or posted to the customer's bank account (for withdrawals). In addition, CambioReal reserves the right to hold funds beyond the normal distribution periods for transactions it deems suspicious or for accounts conducting high transaction volumes to ensure integrity of the funds. If CambioReal closes an account, CambioReal will provide you notice and pay the User all of the unrestricted funds held in their account. Additionally, to secure User’s performance of this Agreement, User grants to CambioReal a lien on and security interest in your account. In addition, User acknowledges that CambioReal may setoff against any CambioReal accounts User owns for any negative balance in your other CambioReal accounts, at any time and for any reason allowed by law. These obligations include both secured and unsecured debts, and debts you owe individually or together with someone else.

9. SEVERABILITY CLAUSE

1. If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision in any other respect or under the law of any other jurisdiction will be affected or impaired in any way.

10. MODIFICATION

1. CambioReal reserves the right to modify any of the terms and conditions contained in this Agreement at any time and in their sole discretion by posting a change notice, revised Agreement, or revised policy on the CambioReal’s website or the Platform, or by sending notice of such modification to you by email to the primary email address then-currently associated with the User’s account. The effective date of such change will be the date specified. THE USERS CONTINUED PARTICIPATION IN THE SERVICES FOLLOWING THE EFFECTIVE DATE OF SUCH CHANGE WILL CONSTITUTE THE ACCEPTANCE OF THE MODIFICATIONS.

11. FORCE MAJEURE

1. Neither Party shall be liable for any failure or delay in the performance of its obligations under this Agreement, if such failure or delay is due to circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, war, terrorism, civil unrest, strikes, labor disputes, government actions, or any other event that is unforeseeable and beyond the control of the party. The affected Party shall promptly notify the other Party of the force majeure event and take all reasonable steps to mitigate the effects of such event. The Party affected by the force majeure event shall be excused from performance of its obligations for the duration of the event, and the time for performance shall be extended for a period equal to the duration of the force majeure event.

12. NOTICES

1. The User agrees that this Agreement constitutes "a writing signed by the User" under any applicable law or regulation. To the fullest extent permitted by applicable law, this Agreement and any other agreements, notices or other communications regarding the User’s Account and/or the use of the Services ("Communications"), may be provided to the User electronically and the User agrees to receive all Communications from CambioReal in electronic form. Electronic Communications may be posted on the pages within the CambioReal website and/or delivered to the Users e-mail address. All Communications in either electronic or paper format will be considered to be in "writing," and to have been received no later than five (5) business days after posting or dissemination, whether or not the User has received or retrieved the Communication. CambioReal reserves the right but assumes no obligation to provide Communications in paper format.

13. GOVERNING LAW

1. This Agreement and any disputes shall in all respects be exclusively governed by and interpreted in accordance with the laws of New Castle County, Delaware in the United States and the parties hereto agree to submit to the jurisdiction of the Supreme Court of New Castle County, DE.