1. General Information
Remitify is a platform designed to connect buyers and sellers of fiat currencies. In every transaction, one party is an exchange office and the
other is an
individual. The platform
facilitates transactions based on account numbers and the specific needs of the parties involved when placing an order. It is important to note that Remitify is not a payment
platform and does not intervene in the payment process between buyers and sellers. By using our platform, you agree to the following terms and conditions.
2. Accuracy and Responsibility
- Ensure accuracy when entering your account number or the recipient's account number.
- Only the account holder can define the account number or payment and receipt method on the platform.
- Customer-provided account numbers must be accurate, as Remitify does not have access to personal accounts. To ensure accuracy and prevent errors, review your provided account
number in each transaction.
- Users must have the capability to fulfill their financial commitments and place orders accordingly.
- If a user places a disruptive order and fails to meet their commitments, the platform reserves the right to suspend the account pending a thorough investigation.
3. Pricing and Order Placement
- Pricing on Remitify is peer-to-peer, with an exchange office on one side and an individual on the other. The platform does not set prices but suggests average or trending
market prices based on completed transactions. Therefore, you can set your suggested price.
- When setting a price, specify its validity period. If market prices change and you do not update your price in the panel, you are obligated to complete the transaction if a
contract is closed.
- Users are responsible for providing accurate and up-to-date exchange rates for transactions and must monitor and adjust their prices accordingly.
- Direct communication with buyers or sellers is not possible; therefore, ensure the accuracy of your specified prices.
- In case of any transaction issues or requests for clarification, users must respond to questions within the specified timeframe in their panel to submit and review claims.
- Unforeseen issues may arise during monetary exchanges. Users must cooperate with the panel admin to resolve any potential problems regarding received and paid funds.
4. Transaction Security
- The exchange platform primarily serves individuals without access to international accounts. Users must fulfill their requests and avoid providing fraudulent documents, which
will result in account suspension.
- Users must protect the security and privacy of others' information and adhere to confidentiality protocols, avoiding sharing exchange information with others.
- Customers must be fully aware of their payments and comply with anti-money laundering measures before using any funds to avoid transfer issues, as the platform has no access
to the source of funds. Therefore, customers are responsible for ensuring their payment accounts comply with national and international regulations to avoid fines and activity
suspensions.
- If a customer uses illicit funds, leading to the suspension of others' accounts, the responsible party is liable for the error due to their knowledge of their funds'
source.
5. Price Changes and Market Volatility
Prices in monetary markets are not fixed and fluctuate based on supply and demand. Since transactions always involve an exchange office and an
individual, consider the
following:
- Sudden and unfavorable currency rate changes can reduce currency asset values. Once a transaction is accepted, neither party can cancel it.
- Market volatility may affect currency transactions. Users should be aware of this and declare their proposed prices accordingly.
- Failure to pay debts by individuals or trading partners can result in financial losses. Once a transaction is closed, both parties must complete it.
- Liquidity shortages may cause payment and transaction issues. Users should exchange according to their liquidity and avoid short selling or buying.
- Customers must compensate for any financial losses resulting from their mistakes, inaccuracies, or misconduct in transactions. This includes refunding lost funds or covering
losses from incorrect rates, transfers to wrong accounts, or intentional violations.
6. Important Operational Points
- The platform connects buyers and sellers of fiat currencies, with one side being an exchange office and the other an individual. Financial exchanges inherently involve
issues, and the platform often acts as a dispute resolution authority, informing both parties of violations with evidence to correct them.
- The platform is not responsible for obtaining necessary permits from relevant regulatory and financial authorities, such as the central bank or financial oversight
organizations, for monetary exchanges between users. The platform's role is merely matchmaking between the exchange office and the user.
- Monetary exchanges on the platform involve only the currencies listed. Other types of money and quasi-money, such as bank guarantees and checks, are not exchanged.
- The platform provides tools for customers to monitor transactions at all times. Therefore, customers must pay attention to messages and closed transactions and ensure timely
completion to avoid leaving any transaction open beyond its stipulated time.
- Users should avoid off-platform exchanges. The platform is not liable for any off-platform transactions.
- For in-person delivery or receipt, individuals must carry the identity documents specified on the platform for the exchange to verify.
By using Remitify, you acknowledge that you have read, understood, and agree to abide by these terms and conditions. The platform reserves the
right to modify these terms at any
time, and continued use of the platform signifies acceptance of any updated terms.
