Terms & Conditions
Please read these terms and conditions (the “Agreement”) carefully before using any of Statrys Global Account (“Statrys Services”). This Agreement shall govern the availability and use of the Statrys Services provided by us (Statrys and Statrys Group Entities). By accessing or using any or part of the Statrys Services, you (the “Client”, “you”/ “your”, “any authorized user”) agree to become bound by the terms and conditions of this Agreement. If you do not agree to all the terms and conditions of this Agreement, please do not access or use any of Statrys’ Services.
Notwithstanding the foregoing, you shall regularly review the terms and conditions of this Agreement. You may access the latest version of this Agreement at any time on our website (www.statrys.com).
This Agreement is effective and legally binding on the date when the Client creates a Statrys Account, affirmatively accepts the Agreement in writing or electronically, or otherwise uses the Services (“Effective Date”). Subsequently, the Agreement shall be continued until it is terminated in writing. Your acceptance of this Agreement serves as confirmation that you fully understand and accept these terms and conditions. If you do not understand any of these terms and conditions, please contact us or your account manager for more information.
1. Important Information
1.1. You acknowledge that you and your use of the Statrys Services are subject to the mandatory provisions of Applicable Law. You are solely responsible for understanding and complying with any and all laws, rules and regulations that may be applicable to you in connection with your use of the Statrys Services, including, but not limited to, laws and regulations governing payment services, anti-money laundering or terrorist financing requirements, consumer protection, data protection laws, anti-discrimination, gambling, false advertising, illegal sale or purchase or exchange of any goods or services, and those related to export/import activity, taxes or foreign currency exchange.
1.2. We may close, suspend or limit your access to your use of the Statrys Services in the event that you breach any of the terms and conditions in this Agreement or any other agreement you enter into with Statrys or pursuant to any proprietary monitoring used by Statrys when assessing the risk associated with your transaction activity. We may also limit your access to funds per the instructions of law enforcement or our regulators.
In the context of this Agreement, the following terms shall have the following meaning:
2.2 “Statrys Account” shall mean your online account where you register for Statrys Services and make ongoing use of the Statrys Services. Your Statrys Account is where you upload and maintain your contact and identity information, and other information related to such Client’s use of the Statrys Services.
2.4 “Statrys website” shall mean our website at www.statrys.com.
2.5 “Applicable Law” shall mean any law, regulation or generally accepted practices or guidelines in the relevant jurisdictions applicable to Statrys Services, including, but not limited to, laws governing payment services including anti-money laundering or counter-terrorist financing requirements, sanctions, consumer protection, data protection laws, anti-discrimination, gambling, false advertising, illegal sale or purchase or exchange of any goods or services, and those related to export/import activity, taxes or foreign currency transactions including, but not limited, to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, the Drug Trafficking (Recovery of Proceeds) Ordinance, the Organized and Serious Crimes Ordinance, the United Nations (Anti-Terrorism Measures) Ordinance, the United Nations Sanctions Ordinance and the Weapons of Mass Destruction (Control of Provision of Services) Ordinance and similar legislation in all jurisdictions in which Statrys operates.
2.7 “Business Day” shall mean a day other than a Saturday, Sunday or Public Holiday on which Statrys and its Affiliates (as applicable) are open for business in its registered place of business or a day on which banks and foreign exchange markets are open for business in the principal financial centers of the countries of the relevant currencies (as required).
2.8 “Client” shall mean you, the individual or legal entity who enters into this Agreement and in whose name the Statrys Account is registered.
2.9 “Fees” shall mean the charges payable by you to us for using the Statrys Services.
2.12 “Global Account” shall mean your Statrys multi-currency account.
2.13 “Restricted Person” shall mean a person that is (i) listed on, or owned or controlled by a person listed on sanctions list; (ii) located in, incorporated under the laws of, or owned or controlled by, or acting on behalf of, a person located in or organized under the laws of a country or territory that is the target of country-wide Sanctions; or (iii) otherwise a target of Sanctions.
2.14 “Sanctions” shall mean any economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced by: (i) Hong Kong; (ii) the United States; (iii) the United Nations; (iv) the European Union; (v) the United Kingdom; (vi) any other jurisdiction in which Statrys operates; or (vii) the respective governmental institutions and agencies of any of the foregoing, including without limitation, the Office of Foreign Assets Control of the U.S. Department of Treasury (“OFAC”) (together “Sanctions Authorities”).
2.15 “Sanctions List” shall mean the Specially Designated Nationals and Blocked Persons list issued by OFAC, the Consolidated List of Financial Sanctions Targets issued by Her Majesty’s Treasury, or any similar list issued or maintained or made public by any of the Sanctions Authorities.
2.16 “Service Providers” shall include banks, payment service providers, clearing networks and other third-party payment processing services used by Statrys in the course of supplying the Statrys Services.
2.17 “Special Companies” notably include:
- Companies registered in high-risk jurisdictions (such as the BVI or Cayman Islands);
- Companies whose directors, shareholders, and/or ultimate controllers include persons from high risks jurisdictions;
- Companies with complex ownership structures, for example with more than two (2) layers of shareholders between the Company and its ultimate controllers;
- Companies operating in high risk industries.
3. Data Protection
3.1 When using the Statrys Services, you or any third party authorized by you may submit content to Statrys. Any collection, use or processing of information by us shall be restricted to the purposes necessary for, or incidental to, the provision of the Statrys Service pursuant to this Agreement unless your prior consent is obtained.
3.3 You agree that Statrys reserves the right to access and/or disclose data we collect from you and any third party authorized by you in order to comply with requests from government and/or regulatory authorities. You further acknowledge that Statrys reserves the right to disclose personal data to third parties in the event that Statrys reasonably believes your use of the Statrys Services is deemed as a breach of the terms and conditions of this Agreement.
4.1 You may contact Client Support at any time by sending a message through the contact links on the Statrys Website or via e-mail at email@example.com.
4.2 You agree that Statrys may provide notice or other information to you by posting it on the Statrys Website(s) (including information which is only accessed by you by logging into your Statrys Account), emailing it to the email address listed in your Statrys Account, mailing it to the business address listed in your Statrys Account, calling you by phone, or sending you a “text” message. You shall have internet access and an e-mail account to receive communications and information relating to Statrys Services. You may request a copy of any legally required disclosures (including this Agreement) from us and we will provide this to you in so that you can store this document (for example, by e-mail) and you may refuse receiving such communications by contacting Statrys as described in paragraph 3.1 above. Statrys reserves the right to close your Statrys Account if you withdraw your consent to receive electronic communications.
5.1 All Fees that may be charged by Statrys are disclosed in your Statrys Account. The Fees are subject to adjustment at Statrys’ sole discretion. You agree to pay all Fees and your continued use of the Statrys Services indicates your continued acceptance of the Fees. When we adjust our Fees, we will publish the updated Fees in your Statrys Account portal and send you an email notification. If you have any questions or are unclear as to any Fees, you should contact Statrys.
5.2 Fees payable by you may be deducted from the settlement transaction at the time the settlement transaction is executed or charged separately. You hereby authorize us to so deduct such Fees.
6. Client Representations and Warranties
6.1 You represent and warrant that you are not acting on behalf of, or for the benefit of, anyone else, unless in case of a natural person, opening the account for and under the direction of the company or legal person or entity, that employs such a natural person.
6.2 You hereby undertake, until the term or termination of this Agreement, to communicate promptly to Statrys any change in your business ownership, management structure, business activities and contact details.
6.3 You shall obtain any necessary authorizations from data subjects for the required transfers of information within the scope of the Statrys Services. You are responsible for the legally compliant collation, storage and transmission of information (in particular personal data) to Statrys. You hereby represent and warrant that the data with respect to third parties that is communicated to Statrys by you or by the relevant platform and for the purpose of being read, kept or processed by Statrys (a) with respect to such data you hereby (i) are deemed to be and (ii) accept to be controller; (b) such data has been collected and received from the relevant party in full compliance with applicable data protection laws applicable to such third party as data subject and (c) such data has been communicated with the explicit and informed consent of such party to the communication and processing of this data.
6.4 You shall comply with this Agreement and all Applicable Laws and must not cause Statrys to breach any Applicable Law. You shall notify Statrys in the event that you become aware of any breach of Applicable Laws.
6.5 You shall comply with all Applicable Laws to which you may be subject. You undertake that you are not, and will procure that none of your directors, officers, agents, employees or persons acting on behalf of the foregoing is, a Restricted Person and do not act directly or indirectly on behalf of a Restricted Person. You must supply to us details of any claim, action, suit, proceedings or investigation against you or such persons with respect to Sanctions by any Sanctions Authority to the extent permitted by law, promptly upon becoming aware.
6.6 In the event of a breach of the above provisions, you shall be liable to Statrys for the resulting damages and indemnify Statrys in the internal relationship from any claims of third parties.
6.7 The Hong Kong Deposit Protection Scheme (“DPS”) does not apply to the funds sent, exchanged or received in connection with the Services. You acknowledge and agree that we are not a bank and do not provide you with a bank account, and so our Services are not covered by the DPS. You further agree that the Global Account is a ‘virtual account’ and is not a bank account and that you will not earn interest or be entitled to any interest on any funds.
6.8 To keep your funds safe, Statrys has implemented commercially reasonable administrative and technical measures to protect and safeguard the funds collected or received for you in connection with the Services. Statrys will hold such funds in designated bank accounts segregated from Statrys’s corporate funds, and will not use such funds for its own operating expenses.
7. Termination and Suspension
7.1 If you wish to terminate this Agreement or your Statrys Account, you may do so by sending us an email at firstname.lastname@example.org. The provisions of this Agreement relating to ownership provisions, warranty disclaimers, indemnity and limitations of liability shall survive termination of this Agreement.
7.2 When your Statrys Account is suspended or terminated, any further attempted use of the Statrys Service will result in your funds being rejected, and may warrant notification to appropriate authorities. You are solely responsible for any fees incurred in connection with the rejected payments.
8.1 Amendment to Agreement. Since we keep updating the Statrys Services, we may amend the terms of this Agreement from time to time. In the event of any amendment, we will send you an email notification two (2) weeks before the changes take effect. If you disagree with our changes, then you should stop using the Statrys Services and terminate this Agreement within the designated notice period. Otherwise, in absence of such notification before the proposed date of their entry into force, you will be deemed to have accepted those changes if you continue to use Statrys Services. Your continued use of our Statrys Services will be subject to the new terms. However, any transaction or dispute that arose before the changes shall be governed by the Agreement that was in place when the dispute arose.
8.2 Service Providers. Statrys shall be entitled to involve third parties in providing Statrys Services. Statrys may require that certain processing steps are carried out directly through such third parties, completely or partially.
8.3 Prevention of Money Laundering and Terrorist Financing. Statrys is subject to Applicable Law regarding the fight against money laundering and the financing of terrorism. As a result, Statrys reserves the right to obtain information from you, including, but not limited to, information about your identity, business transactions, business relationships, and/or financial information. In addition, Statrys must take all the steps necessary to identify you and, where appropriate, the beneficial owner of the Statrys Account linked to the Statrys Account. You acknowledge that Statrys may terminate or postpone, at any time, the use of login details, access to a Statrys Account or execution of a transaction in the absence of any sufficient information about its purpose or nature.
8.4 Severability. Should one or several provisions of this Agreement be or become invalid or prove to be unenforceable, this shall not affect the validity of the other provisions.
8.5 Indemnification. You agree to indemnify, defend, and hold harmless Statrys, its parent, affiliates, and their respective directors, officers, employees, and agents from and against any and all claims and expenses, including attorneys’ fees, arising out of your use of the Statrys Services, including but not limited to your violation of this Agreement.
8.6 Disclaimer of Warranties. We act as a service provider to you under this Agreement. Statrys does not act as a trustee, an escrow agent or stakeholder for you or your payer/payee. Statrys assumes no liability to or in respect of any products, services or any other part of your business.
8.6 Applicable Law. This Agreement shall be governed by Hong Kong law and any claim or dispute under this Agreement shall be subject to the exclusive jurisdiction of the Courts of Hong Kong.