Document Terms and Conditions

Terms of Use for Business Customers

Effective date: April 1st, 2024

PLEASE READ THESE TERMS OF USE CAREFULLY BEFORE USING THE WEBSITE OR ANY SERVICES OFFERED THROUGH THE WEBSITE.

GENERAL
1. These Terms of Use are entered into by and between you TXN SERVICES, UAB of Žalgirio g. 88-101, LT-09303 Vilnius, Lithuania, registration number 306702732, a public limited company creating and existing under the laws of the Republic of Lithuania ("Company", "We" or "Us").
2. The following terms and conditions, together with any documents they expressly incorporate by reference (collectively, these "Terms of Use"), govern your access to and use of https://txn.pro (a "Website", also referred to as txn.pro) including any associated applications ("Applications") and Your access to and use of any content, functionality and services offered on or through the Website and Applications, and Your access to and use of all and any related sites and services. The Website, the Applications, and all and any other content, functionality, products and services offered by Us or through Us, are referred to as the "Product".
3. In addition to the Terms of Use, relations between the Parties are regulated by existing legal provisions of the Republic of Lithuania, Service Agreement, Cookie Policy, Privacy Policy, KYC/AML Policy, and the other agreements.
RELIANCE ON INFORMATION POSTED
1. The information presented on or through the Website and any Products is made available solely for general information purposes. We do not warrant the accuracy, completeness or usefulness of this information. Any reliance you place on such information is strictly at Your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by You or any other visitor to the Websites, or by anyone who may be informed of any of its contents.
2. The Website and the Products are not in any manner or in any form or part intended to constitute or form the basis of any advice (professional or otherwise) or to be used in, or in relation to, any investment or other decision or transaction.
AMENDMENT
1. We may amend these Terms of Use, the Cookie Policy, the Privacy Policy and the KYC/AML Policy unilaterally by publishing the amended conditions on our Website and in some instances via e-mail or in any other manner. Amendments shall be effective at the time of publishing. If You continue to use the Services after We publish such amendments, You shall be deemed to have accepted those amendments and You have no claims against Us as regards the amendments made to the Terms of Use, the Cookie Policy, the Privacy Policy and the KYC/AML Policy. If You do not agree to the amended conditions, You must discontinue the use of the Service(s).
ORDINARY TERMINATION
1. You shall have the right to terminate these Terms of Use and close Your Account unilaterally and for any reason at any time.
2. We shall have a right to terminate these Terms of Use and deactivate Your Account unilaterally at any time and for any reason by giving you one (1) month’s notice unless it is considered there were exceptional circumstances.
EXTRAORDINARY TERMINATION
1. We have the right to close Your Account and extraordinarily terminate these Terms of Use without giving advance notice if there are exceptional circumstances or if You materially violate a contractual obligation or otherwise behave maliciously. A material violation of a contractual obligation is, above all, if You violate an obligation, the due performance of which is a precondition to Our continuing performance of the agreement.
REPRESENTATIONS AND WARRANTIES
1. Applying for opening of an account and accepting these Terms of Use, as well as any their revised version, You represent and warrant to Us on an ongoing basis that You:
  1. Are of sound mind, legally competent and at least 18 years of age (or a higher age limit, if so required by the applicable law). We may request from You any information, documents or other evidence to prove Your age or legal competence;
  2. Account opening and use of txn.pro Services is legal in Your country of residence and You have all permissions and licenses required under the law for using Our Services and Products;
  3. Act in Your own name and not on the name of any third party unless You notify Us in writing about otherwise and receive Our written consent;
  4. Are not subject to bankruptcy, insolvency, restructuring, reorganization, liquidation or other similar proceedings or procedures;
  5. Act through a duly authorised Representative, who has sufficient powers to enter and execute Service Agreement;
  6. Follow all laws and regulations applicable to You when open and use txn.pro Services, including without limitation anti-money laundering (AML) and countering financing of terrorism (CFT) requirements;
  7. Accept that You will need to complete, to Our satisfaction, due diligence procedures carried out by Us in order to identify, check and verify Our clients, as well as their businesses and operations, and agree to provide Us with true, accurate, complete and up to date information, documents and other evidence requested by Us for these purposes.
2. Representatives of legal persons shall be identified based on personal identification documents that are in accordance with legislation and accepted by Us.
3. A legal person shall be identified based on a valid extract of the register and/or the documents accepted by Us.
4. The document certifying the right of representation shall be formalized and submitted pursuant to the procedure stipulated in the legislation and in accordance with Our requirements.
5. We may demand that a legal person's documents including the document certifying the right of representation must be notarized or certified in an equivalent manner. We may demand to be presented with the original documents or their copies if they are notarized or equally certified. We may require that documents issued abroad be legalized or certified with an apostille unless prescribed otherwise in a treaty between the countries.
6. If documents are in a foreign language, We may require that the documents be translated into English or another language understandable to Us. The translation must be certified by a sworn translator.
7. We may refuse to provide the Service(s) on the basis of a document certifying the right of representation, which does not explicitly and clearly reflect the Customer’s will.
8. We shall deem the document certifying the Business Customer’s right of representation valid until We have received documents that confirm the amendment of the Business Customer’s right of representation. You shall notify Us immediately of the withdrawal and invalidation of the authorization.
KNOW YOUR CUSTOMER (KYC) AND KNOW YOUR BUSINESS (KYB) PRINCIPLES
1. We shall apply both Lithuanian and international measures for the prevention of money laundering and terrorist financing as well as the measures of the application of sanctions. Therefore, we must have an overview of our Customers, the persons considered as connected persons, and also the activities and the origin of the assets of the Customer.
2. Based on the abovementioned We shall have the right and obligation to:
  1. check the identification information of the representative of a legal person on a regular basis and receive from You additional documents and data (incl. citizenship, owners of the legal person, actual beneficiaries, founders, and members of the management board);
  2. regularly ask for documents and data regarding the activities of You, including data regarding the connected persons, data regarding the purpose and essence of transactions/activity, and the legal origin of the assets of You or of the assets used in transactions;
  3. ask for the documents constituting the basis for the transactions from You (e.g. sales, lease, and supply agreements etc.) and also data or documents regarding the counterparty, actual beneficiary of the transaction, or any other person involved in or related to the transaction;
  4. monitor how You use the Service(s);
  5. refuse Services (including refusing to establish a Business relationship or make transfers) or to impose permanent or temporary restrictions on the use of a Service (e.g. block an Account or Service fully or partially, freeze assets, set limits based on Services, transactions, or Customers, or change existing Limits, including lower Limits than the standard Limits) above all if the person or a person connected with them:
  6. fails to present the documents and data, requested by Us, which are necessary for complying with the diligence measures, arising from law or for verifying and updating the documents and data, gathered in the course of applying the diligence measures, or present false data;
  7. despiteOur efforts, We are still not able to verify the data and documents used for the identification of the Customer and fulfillment of other diligence measures during a reasonable period of time;
3. For more details on the measures we apply and the documents requested as part of the anti-money laundering and counter-terrorist financing requirements, please refer to the KYC/AML Policy.
PROHIBITED USES
1. You may use the Websites and any Product only for lawful purposes and in accordance with these Terms of Use. You agree not to use the Websites and any Product:
  1. In any way that violates any applicable national, regional, local or international law or regulation (including, without limitation, any laws regarding the export of data or software to and from the EU or other countries).
  2. For the purpose of exploiting, harming or attempting to exploit or harm minors in any way by exposing them to inappropriate content, asking for personally identifiable information or otherwise.
  3. To send, knowingly receive, upload, download, use or re-use any material which does not comply with these Terms of Use.
  4. To transmit, or procure the sending of, any advertising or promotional material without our prior written consent, including any "junk mail", "chain letter" or "spam" or any other similar solicitation.
  5. To impersonate or attempt to impersonate the Company, a Company employee, another user or any other person or entity (including, without limitation, by using email addresses or screen names associated with any of the foregoing).
  6. To engage in any other conduct that restricts or inhibits anyone's use or enjoyment of the Websites and any Products, or which, as determined by Us, may harm the Company or users of the Websites and any Products or expose them to liability.
2. Additionally, You agree not to:
  1. republish, redistribute or re-transmit any data from any of Our communications, analytics, and other Products without Our permission;
  2. copy or store any of our Products other than for Your own personal non-commercial use and as may occur incidentally in the normal course of use of Your browser or mobile device;
  3. store any Products (including pages of a Website) on a server or other storage device connected to a network or create a database by systematically downloading and storing any data from the Website or the Product;
  4. remove or change any content of any Product or attempt to circumvent security or interfere with the proper working of the Product or any servers on which it is hosted;
  5. create links to a Website from any other website, without Our prior written consent, although you may link from a website that is owned and operated by You provided that (a) the link is not misleading or deceptive and fairly indicates its destination, (b) You do not state or imply that We endorse You, Your website, or any products or services You offer, (c) You do not create any misimpression or confusion among users with respect to sponsorship or affiliation, (d) You link only to the homepage of the Website and (e) the linked website does not contain any content that is unlawful, threatening, abusive, libelous, pornographic, obscene, vulgar, indecent, offensive or which infringes on the intellectual property rights or other rights of any third party;
  6. use the Websites or any Products in any manner that could disable, overburden, damage, or impair the site or interfere with any other party's use of the Websites and any Products, including their ability to engage in real time activities through the Website and through any Products;
  7. use any robot, spider or other automatic device, process or means to access the Websites for any purpose, including monitoring or copying any of the material on the Websites;
  8. create (whether for Yourself or someone else) any financial product or service which seeks to match the performance of, or the capital or income value of which is related to, any of Our Product or services;
  9. use any manual process to monitor or copy any of the material on a Website or for any other unauthorized purpose without Our prior written consent.
  10. use any device, software or routine that interferes with the proper working of a Website.
  11. introduce any viruses, trojan horses, worms, logic bombs or other material which is malicious or technologically harmful.
  12. attempt to gain unauthorized access to, interfere with, damage or disrupt any parts of a Website, the server on which the Websites are stored, or any server, computer or database connected to any Website.
  13. attack any Website via a denial-of-service attack or a distributed denial-of-service attack.
SUSPENSION OF SERVICES
1. We may withhold or suspend any Services (including your access to the Account) or any part of its functionality, where it knows or reasonably suspects that the providing one or more Services:
  1. is fraudulent or involves any criminal activity;
  2. is money laundering or relates to money laundering activities; or
  3. is otherwise in breach of applicable law.
  4. You fail to provide on request such documentation as We (or any third party whose services We use in providing the Services to You under Service Agreement) reasonably requires in order to comply with its obligations under applicable money laundering laws and regulations or otherwise to ensure the verification of your identity and/or funding sources to Our satisfaction;
  5. We reasonably believes that it is necessary or desirable to do so in order to protect the security of the Account, including circumstances where any Account details may have been lost or stolen; or
  6. it is obliged to do so as a result of any law or regulation or the direction of any competent authority or regulatory body.
  7. We reasonably suspect that you have provided us with false information or fabricated documents.
TRANSACTION LIMIT
1. We may impose daily, monthly, and annual transaction volume limits per Account. If You wish to make a transaction over the limit you may be required to provide additional information and documentation.
2. The transaction will not be approved until all required documentation has been reviewed and the accuracy and authenticity of the information have been confirmed.
3. Assignment of limits has a personalised approach to each client.
APPLICABLE FEES
1. We will charge you a fee (if any) which is fixed in the Service Agreement and which is in force at the time the chargeable action/function is performed.
THIRD-PARTY LINKS
1. You may be able to access other websites, mobile applications, or resources through links accessed on the Services. Because We have no control over such websites or mobile applications You acknowledge and agree We are not responsible for the availability of such external websites, mobile applications, or resources accessible from those third parties, and do not endorse and are not responsible or liable for any content, advertising, products, services, or other materials available from such websites or mobile applications, nor do We endorse any such websites, mobile applications or resources, or the products or services assessable on such websites or mobile applications.
PRIVACY AND DATA PROTECTION
1. To enable You to use Our Service(s), We collect, use, store and otherwise process information about You under the legal acts of the Republic of Lithuania, the EU General Data Protection Regulation (EU 2016/679), and other legal acts.
2. All information We collect on this Website is subject to Our Privacy Policy. By using the Website, You consent to all actions taken by Us with respect to Your information in compliance with the Privacy Policy.
3. We process information about You as described in our Privacy Policy available at https://txn.pro/privacy-policy/ and updated from time to time, as well as other provisions of these Terms of Use. You must familiarize Yourself with the Privacy Policy prior to accepting these Terms of Use.
4. We disclose information to persons who, to perform their duties arising from law, may obtain information from Us or to whom We are entitled or required by law to disclose information, in particular:
  1. courts, pre-trial investigation authorities, prosecutor’s office, tax authorities, and other persons (e.g. to the Financial Intelligence Unit); and
  2. to Lithuania and foreign Providers for the purpose of preventing money laundering and terrorist financing or imposing sanctions or to other obligated persons for the purpose of preventing money laundering and terrorist financing or imposing sanctions within the limits and to the extent prescribed by law.
CONFIDENTIALITY
1. Each party will hold the other’s Confidential Information in confidence and not make the other’s Confidential Information available to any third party unless that third party is subject to an equivalent duty of confidentiality. Neither party will use the other’s Confidential Information for any purpose other than the implementation of the Service Agreement.
2. Each party will take all reasonable steps to ensure that the other’s Confidential Information to which it has access is not disclosed or distributed by its employees, agents or independent contractors in breach of the terms of Service Agreement.
3. When using the Website or any Products, data may be transmitted over an open network which may allow such communications to be intercepted by third parties. As a result, We cannot guarantee the confidentiality or security of any communication or data that you may transmit to Us through the Website.
LINKING TO THE WEBSITE AND SOCIAL MEDIA FEATURES
1. You may link to Our homepage, provided You do so in a way that is fair and legal and does not damage Our reputation or take advantage of it, but You must not establish a link in such a way as to suggest any form of association, approval or endorsement on Our part without Our express written consent.
2. If the Website contains links to other sites and resources provided by third parties, these links are provided for Your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources and accept no responsibility for them or for any loss or damage that may arise from Your use of them. If You decide to access any of the third-party websites linked to any Website, You do so entirely at Your own risk and subject to the terms and conditions of use for such websites. We reserve the right to withdraw linking permission without notice.
COMPLAINTS
1. If You want to submit a complaint about our Service(s), send an e-mail to [email protected]
2. We shall respond to the filed complaint in writing the latest within one month of the day of receiving the complaint. As a rule, We respond to a complaint related to the fulfillment of transactions within 15 Business Days. If before preparing an answer it is necessary to ascertain and verify the circumstances more thoroughly, We may prolong the term of answering.
FORCE MAJEURE
1. No party will be in breach of this Agreement nor liable for any failure to perform its obligations under this Agreement if that failure results from circumstances beyond its reasonable control.
COMMUNICATION OF NOTIFICATIONS
1. All communications between You and Us shall be made by e-mail ([email protected]).
DISPUTE RESOLUTION AND JURISDICTION
1. These Terms of Use are subject to the laws of the Republic of Lithuania unless stated otherwise.
2. All disputes, arising from a Terms of Use, shall be resolved by negotiation. In the event of a failure in negotiations, disputes shall be resolved in courts of Lithuania.
FINAL PROVISIONS
1. Upon the termination of these Terms of Use for whatever reason:
  1. all rights granted herein shall terminate immediately;
  2. any provision of these Terms of Use that by its very nature or context is intended to survive any termination, cancellation, or expiration hereof, shall so survive;
  3. all other performance obligations of both Parties under these Terms of Use shall cease.
2. We shall not be held liable for consequences arising after we legally suspend or restrict Your use of our Service(s) or terminate these Terms of Use.
3. The termination of the Terms of Use shall also mean the termination of Your access to Our Product.

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