Agility Forex (UK) Ltd.

Terms & Conditions

  1. Introduction
    1. The terms and conditions contained in this document are important.
    2. Your business relationship with Agility Forex (UK) Ltd is based on them. You must read and accept them before we will execute any Transactions with you. You must signify your acceptance by signing them or confirming in your registration that you have read and understood them. Your use of our Services shall in any event constitute your acceptance of these terms and conditions.
    3. Words in the singular shall include the plural and vice versa. References to one gender shall include a reference to all other genders. References to “include”, “including” or any similar term shall be construed as illustrative and shall not limit the sense of any preceding words, phrases or descriptions. References to any law or regulation shall include a reference to the law or regulation as may be amended or restated from time to time.
    4. Nothing in the Agreement shall exclude or limit any duty or liability which cannot be excluded or limited under applicable law.
    5. Agility Forex (UK) Ltd(‘‘we’’, “us” and “our”) is a company incorporated in England and Wales (12992671) Registered Office: 24 Old Queen Street, London, United Kingdom SW1H 9HP
    6. Agility Forex (UK) Ltd is authorised by the Financial Conduct Authority (FCA) under the Payment Service Regulations 2017 for the provision of payment services, FCA API number 942039.
  2. Definitions

    Account – means a uniquely identified account held by us on your behalf for your currency transactions

    Agreement – means these terms and conditions, the application form, any and all instructions issued by you and any associated correspondence.

    Authorised Person – means any person authorised by a Corporate Client to give instructions on their behalf for the execution of currency transactions.Such a person must be authorised in writing by you and is subject to the same Customer Due Diligence.

    Beneficial owner – means a person who controls or owns over 25% of the shares or voting rights, ultimately controls or owns over 25% of the shares or voting rights, exercises ultimate control over the management and/or controls the body corporate in the case of Corporate clients

    BST – means British Summer Time

    Business Day – means any day other than a Saturday, Sunday or an official bank holiday, when banks are generally open for business.

    Contract Note – means an email or other communication confirming relevant details in relation to a transaction.

    Corporate Client – means any legal person wheresoever incorporated or howsoever incorporated and includes LLPs, Partnerships Charities, Trusts and informal partnerships.

    Currency transaction – means a transaction for the sale or purchase of a specific quantity of currency.

    CDD – means Customer Due Diligence

    DPA – means the Data Protection Act 2018

    Force Majeure event – means any act beyond our reasonable control, an Act of God, flood, earthquake, windstorm or other natural disaster, epidemic or pandemic, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, breaking off of diplomatic relations or similar actions, terrorist attack, civil war, civil commotion or riots, strike, industrial action or lockout any law or government order, rule, regulation or direction, or any action taken by a government or public authority, any communications, systems or computer failure, market default, suspension, failure or closure, interruption or failure of utility service.

    GMT – means Greenwich Mean Time

    Instruction – means any order or instruction given by you to us to execute or amend a Transaction or take any action in relation to a Transaction.

    LLP – means Limited Liability Partnership

    MLR – means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

    Obligations – means all obligations owed by you to us to perform any legally binding obligation whether arising under the Agreement or otherwise, and whether actual or contingent.

    Online system – means our proprietary online system used for the provision of our services to you.

    Private Client – means a real person acting on their own behalf

    PSR – means the Payment Services Regulations 2017

    Security information – means any and all such information as we require from you to allow access to our online system.

    Spot transaction – means a transaction for the sale or purchase of foreign currency where the value date is within two business days.

    Transaction – means any currency transaction or any transaction between us as may be agreed in writing from time to time.

  3. Our Obligations to You
    1. We agree to provide you with facilities to buy and sell currency. We do not make, nor do we have any duty to give any investment advice or personal recommendations. Each and every Transaction is entered into by you solely at your own discretion and pursuant to your own judgment. Any discussion in relation to the terms, performance or characteristics of a potential Transaction does not amount to advice on the general commercial, legal or tax implications of such potential Transaction.
    2. We are authorised by you to do anything which we consider necessary or appropriate either to provide the Services or to comply with any applicable laws or regulations as may be appropriate. You accordingly ratify everything lawfully done in the exercise of such discretion.
    3. We will treat you, and only you, as our client and we have no obligation and accept no liability to any other person for whom you may be acting as an agent, intermediary or fiduciary and your obligations to us shall not be diminished in any way by reason of your so acting.
    4. All of your funds will be held in a segregated bank account created for that purpose and opened in a reputable Credit Institution in the United Kingdom.
    5. We will not be obliged to effect any Transaction nor do anything else which we reasonably believe would breach any law or regulation.
    6. We are entitled to take all steps as we deem necessary, in our absolute discretion, to ensure all Transactions or other actions we take are carried out in accordance with the relevant laws or regulations. Including the application of Customer Due Diligence (CDD) and Beneficial Ownership steps to ensure our compliance with relevant law and regulation. We may from time to time at our discretion request re-validation of information supplied to us by you for the purposes of CDD. We may from time to time request further information from you in addition to CDD information to comply with our legal obligations.
  4. Your obligations to us
    1. By acceptance of these terms and conditions you confirm that:-
      1. You have all necessary power, consent and authority to enter into and deliver the Agreement, each Transaction and any other related documentation. All information provided by you to us at any time is true, complete, accurate and not misleading in any respect.
      2. You will provide any and all such information as we require in order to comply with our legal and regulatory obligations.
      3. All Instructions are placed in pursuance of your usual trade or business in the case of Corporate clients. All Instructions will be for Commercial Purposes or personal use (only in the case of Private clients) and not for currency speculation.
      4. You are acting as principal, not on behalf of a third party and there are no current, pending or threatened legal proceedings affecting your business as a corporate client.
      5. You agree that all funds paid by you are beneficially owned by you.
  5. Transactions
    1. Immediately your account is opened, you, or in the case of Corporate clients an Authorised Person may submit instructions in accordance with the terms and conditions of the Agreement.
    2. Instructions may be given by electronic mail or via the Online System or such other method as we may agree from time to time.
    3. Please ensure that all information contained in the Instruction is clear, complete and accurate in all respects. Once we receive your Instruction you will be bound by such Instruction and its contents. An Instruction can only be amended or cancelled with our explicit consent.
    4. We may at our absolute discretion refuse to accept or act in accordance with all or part of any Instruction, without being under any obligation to give any reasons to you. If we decline or refuse to accept an Instruction, we will take reasonable steps to notify you promptly of this.
    5. Subject to this we will not be liable to you or anyone else for any failure to accept or act on such Instruction.
    6. If we receive an Instruction after 4:00pm GMT/BST (whichever is applicable) on any Business Day, we may treat this as being received by us on the following Business Day. If we receive an Instruction on a day that is not a Business Day, we will treat this as received on the next Business Day.
    7. For the avoidance of doubt Transactions will be made and be binding upon the parties once we have executed the relevant Instruction whether or not a Contract Note has been issued.
    8. The contents of the Contract Note shall be deemed, to be conclusive evidence of the Transaction.
    9. Once a Transaction has been entered into, and whether or not a Contract Note has been issued, such Transaction cannot be altered, cancelled or rescinded without our written consent.
    10. You shall promptly (and in any event within any time limit requested by us) give any further Instruction we may reasonably request to enable us to execute a Transaction.
    11. If you do not do so, we may in our sole discretion take any steps, at your cost, as we consider appropriate for our or for your protection including, for the avoidance of doubt, not executing the Transaction. We shall not be liable to you for any loss, damage, cost or expense suffered by you as a result of our taking such steps.
    12. For each executed Transaction, a Contract Note will be sent to you within 1 Business Day of execution. If you do not receive a Contract Note within 2 Business Days of giving us an Instruction, you will contact us immediately by telephone to request a further copy. You will immediately notify us of any error or inaccuracy in any Contract Note.
    13. The Contract Note will be deemed to have been accepted, unless you contact us and will form part of the Agreement. Non or delayed receipt of a Contract Note shall not impair, cancel or otherwise amend any contractual obligation between us.
  6. Payments
    1. Payment must be made in full before execution of any transaction.
    2. All payments made by you under the Agreement shall be made in cleared funds and in such currency and into such bank account as may be set out in the respective Contract Note, demand or as is otherwise communicated to you in writing from time to time.
    3. All payments under the Agreement shall be made by you free from and without set-off, withholding, counterclaim or deduction whatsoever You undertake that all funds paid by you pursuant to the Agreement will be beneficially owned by you.
  7. Charges
    1. You acknowledge and accept that some intermediary or correspondent banks may levy a receiving or routing charge on any payment made to you or to a third-party beneficiary on your behalf. We accept no liability for any direct or indirect losses that may arise as a result of such charges being levied.
  8. Account management
    1. If for whatever reason including suspected fraudulent use or unauthorised access it becomes necessary to block your access to our online system we will inform you of this without delay. We may also at our discretion refuse to credit to you any funds which are the consequence of currency fluctuations and result in a benefit to you, if we believe the transaction was entered into by you for the purposes of currency speculation.
    2. We reserve at our absolute discretion the right to close your account and terminate our business relationship with you if we consider our legitimate business interests or reputation is at risk by the continuance of our relationship with you.
  9. Complaint Procedure
    1. In the unlikely event of your dissatisfaction with our service in the first instance you should communicate your complaint in writing to us by hard copy for the attention of the complaints department at our address above. Or by email to [email protected]
    2. Within 48 hours of receipt of your complaint we will provide you with an acknowledgement and a written procedure document to progress your complaint.
    3. Should you be dissatisfied with our handling of your complaint you may be eligible to escalate the matter to the Financial Ombudsman Service. Our written procedure document will provide you with the procedure and contact details to escalate the matter.
  10. Confidentiality
    1. We will keep confidential any information relating to you acquired in connection with this Agreement, except for information which we are bound to disclose by law.
    2. You will keep confidential any information acquired in connection with this agreement except for information you are bound to disclose by law.
    3. We are a Data Controller for the purposes of the DPA.
    4. Other than where you upload your personal data (as defined in the DPA) we do not accept any liability for any loss suffered by you as a result of your transmitting personal data to us by way of the internet including by way of email.
    5. We may in the course of business record telephone conversations with you or any authorised person. Such recordings will be made without notice.
  11. General
    1. Nothing in this agreement shall be deemed to create a partnership, agency or joint venture. This agreement and all communications between you and us will be in English. Any dispute between you and us will be subject to the laws of England and Wales. The courts of England and Wales shall have sole jurisdiction to settle any dispute or claim arising out of this agreement.
    2. We may change any provision of these Terms and Conditions from time to time either in whole or in part.
    3. We will notify you in writing at least one month before we make any changes to these Terms and Conditions. You will be deemed to have accepted any such change if you do not notify us to the contrary before the date on which any such change comes into effect. However, if you choose not to accept any such change, our notice of change shall be deemed to be notice of termination given under clause of these Terms and Conditions and our agreement pursuant to these Terms and Conditions will terminate the day before any change comes into effect.
    4. If we have made a major change or a lot of minor changes in any one year, we will give you a copy of the new terms and conditions or a summary of the changes.
    5. If we agree to fix any condition for a certain time, we will not change it during that time.
    6. When we tell you about a change we will do so by letter, email, text or message or in any other way which is sent to you individually or will do so in a way that we reasonably believe is likely to come to your attention and which satisfies legal and other regulatory requirements.