The parties to this agreement are: Candace finance and the client


1.2 The Client wishes to enter into a contract or contracts with candace finance for assistance of the purchase and redemption of electronic money, the purchase, sale and delivery of currency and for money remittance. The Client agrees with candace that all transactions shall be carried out on the terms and conditions set out below (the ‘Terms’). The Terms shall come

1.3 It is important that the Client reads and understands these Terms, which will apply to all dealings between the Client and Candace finance. I'f there are any terms that the Client does not understand or does not wish to agree to, the Client should discuss it with candace finance before proceeding. The Client should only proceed or accept the Terms if the Client agrees to be bound by these Terms.

1.4 Please note that foreign currency exchange rates are subject to fluctuations outside the control of candace finance, Historical prices are not a reliable indicator of future prices.


2.1 candace finance may in its absolute discretion provide, or continue to provide, the following services to the Client: (a) Electronic Money Services: candace finance may enter into transactions for the issuance and redemption of electronically stored monetary value as represented by a claim against candace finance(‘Electronic Money’) with the Client (“Electronic Money Contracts”) in accordance with an instruction by the Client (such an instruction being an ‘Electronic Money Order’). Electronic Money Contracts may include Uploads and Withdrawals; (b) Foreign Exchange Services: candace finance may enter into transactions for the sale, purchase and delivery of currency with the Client (“FX Contracts”) in accordance with an instruction by the Client (such instruction being an ‘FX Order’). FX Contracts may include spot contracts, fixed forward contracts, open forward contracts, limit orders and stop orders (as detailed on the candace finance website).

(c) Payment Services: Following the execution of a FX Contract or if the Client holds Electronic Money and subject to these Terms, candace finance may transfer the converted currency or the funds corresponding to Electronic Money after redemption of the Electronic Money to the bank account of a third party (the ‘Payee’) in accordance with an instruction by the Client (such instruction being a ‘Payment Instruction’ and the onward transfer being an ‘Onward Payment’).

candace finance will always contract as principal with the Client and deal with the Client on an execution only basis, or simply referring the client to another provider for the provision of currency services.

candace finance provides agent only facilities for the Client to enter into FX Contracts. If the FX Contract:

(a) a decission to accept or deny a client is to be concluded within 7 Business Days of the Client entering into the FX Contract, then that FX Contract can be for any purpose;

(b) payment of our deposit fees is to be made in advance, in the form requested.

(i) facilitating a means for the Client to pay for identifiable goods and/or services; or

(ii) facilitating direct investment by the Client.

2.5 The Client confirms that: (a) if it places an Order with candace finance to enter into an FX Contract, of the type described, its purpose is for facilitating payment for identifiable goods and/or services or direct investment,

(b) it is acting on its own account and not on behalf of any other person.


3.1 The Client may provide instructions (including Electronic Money Orders, FX Orders and Payment Instructions) and other communications to candace finance:

(a) at candace finance website;

(b) by telephone to candace finance at +44 (0)7949375227;

(c) by email via your designated account manager; or

(d) using the online system provided by candace finance (the ‘Online System’) in accordance

(a) for Payment Instructions only, using a payment initiation service provider where the Client has Electronic Money held with candace finance which it can view using the Online System (the Online being referred to in these Terms as the ‘Online Resources’); or

(b) automatically, by entering into a Limit Order Contract,

(c) automatically, by setting a Rule (as defined in the addendum) on an Electronic Money Account as set out in the addendum.

Unless a Clause provides otherwise, if instructions are required to be provided “in writing”, then the Client must provide such instructions either by fax, email or, where made available to the Client, using the Online System. The Client may authorise another named person (an ‘Authorised Person’) to give Electronic Money Orders and / or FX Orders and/or Payment Instructions to candace finance on behalf of the Client by providing written instructions to candace finance in accordance.

candace finance is entitled (but not obliged) to act upon instructions which are or reasonably appear to be from the Client or any Authorised Person. In particular, an Order received from an e-mail address or telephone number, set out by the Client in the Account Opening Form or otherwise used by the Client or an Authorised Person to communicate with candace finance, shall be sufficient to authenticate an Order as being from the Client and shall be deemed authorised by the Client pursuant to these Terms and the PS Regulations. In addition, candace finance shall be entitled to act upon Orders and instructions received from communication channels used by the Client or an Authorised Person to communicate with candace finance.

candace finance may contact the Client or their Authorised Person by telephone, fax, email or by post at the contact details provided by the Client in the Account Opening Form or, where made available to the Client, by the Online System. It shall be the Client’s responsibility to inform candace finance of any changes to the Client’s or Authorised Person’s contact details.

All communications between candace finance and the Client (including information and notifications which candace finance is required to provide to the Client in relation to the Payment Services) shall be in English.



The Client or its Authorised Person may from time to time provide an Electronic Money Order to candace finance. Following receipt of an FX Order, T candace finance shall, if it is willing to accept the Electronic Money Order, agree with the Client the terms on which it is willing to enter into the Electronic Money Contract.

4.2 An Electronic Money Order and an Electronic Money Contract may consist of: (a) the Client sending TOR money in exchange for candace finance issuing Electronic Money to the Client (“Upload”); or

(b) the Client redeeming Electronic Money contained in an Electronic Money Account (“Withdrawal”) and send the corresponding funds to the Client’s Bank Account.


candace finance accepts the Electronic Order for an Upload, the Client shall pay candace finance the full amount by electronic transmission (or by such other means as agreed with candace finance in any particular case) in cleared funds into a bank account nominated by candace finance for this purpose (‘Segregated Bank Account’) and candace finance shall issue Electronic Money to the Client to be held in the appropriate Electronic Money Account. candace finance does not accept payments in physical cash (coins and banknotes) from any Client.

The Client and candace finance (on the Client’s behalf) are able to redeem this Electronic Money and use the corresponding funds when the Client enters into FX Contracts and/or Onward Payments.


When the Client has been issued Electronic Money by candace finance, it will be held in a virtual account (an ‘Electronic Money Account’) of the same currency as the funds which were sent to candace finance. The Client can hold Electronic Money Accounts in different currencies. The currencies of Electronic Money Accounts available will vary from time to time. The Client should contact candace finance if it would like an up to date list of the currencies which it can hold Electronic Money in.

The Client can view the amount of Electronic Money it holds in each of its Electronic Money Accounts at any time by logging onto the Online System or through the candace finance


The Client can enter into a Withdrawal, when it holds Electronic Money, by issuing a Payment Instruction to candace finance selecting its own Bank Account as the Payee Bank Account.



When candace finance holds Electronic Money on the Client’s behalf, candace finance holding the funds corresponding to the Electronic Money is not the same as a Bank holding money in that: (a) candace finance cannot and will not use the funds to invest or lend to other persons or entities; (b) the Electronic Money will not accrue interest; and (c) the Electronic Money is not covered by the Financial Services Compensation Scheme.


candace finance charges in relation to Foreign Exchange Services will be as set out in the Deal Confirmation. The Client understands that because candace finance deals as principal the exchange rate it offers the Client will not be the same as the rate candace finance obtains itself.


The Client may use the money purchased in an FX Contract (Purchase Monies) to enter into an Onward Payment. If the Client wishes to so do, then it must notify candace finance not less than 2 Business Days before the Maturity Date of the FX Contract of the details of the beneficiaries of Onward Payment.


candace finance may agree in writing to purchase and exchange into Sterling or another currency a non-Sterling cheque or a non-Sterling bank draft (a “Draft”) which the Client has received in the name of the Client and applies to all such purchases and exchanges.


candace finance may refuse to perform or may close out all or any part of any FX Contract, without incurring any liability to the Client for losses that may be sustained as a result and without giving notice to the Client or receiving any instructions from it, upon or at any time after the happening of any of the following events:

suspicion of fraud, fraud, missing or incorrect documentation


In addition to any limitation on liability under Clause 21 below which may apply to the Foreign Exchange Services, candace finance shall not be liable to the Client:

(a) for any delay or failure to perform its obligations under these Terms relating to Foreign Exchange Services or any FX Contract by reason of any cause beyond the reasonable control of candace finance, but candace finance shall try to perform those obligations as soon as it reasonably can in any event



The Client or its Authorised Person may from time to time provide a Payment Instruction to candace finance. Such Payment Instruction must confirm the details of the proposed Payee including its full name, account details for payment and any unique identifier confirmed to the Client by the Payee. The provision of a Payment Instruction by the Client to candace finance is deemed, under these Terms, to be the Client’s consent for candace finance to execute the corresponding Onward Payment in accordance with Regulations.


Subject to the remainder, where it is established that an Onward Payment was not authorised by the Client, or an Onward Payment was not correctly executed by candace finance and that Client has notified candace finance using the contact details set out in a timely manner , any money held will be returned:



Where candace finance receives funds for the purpose of issuing Electronic Money, the funds corresponding to Electronic Money will be held in one or more Segregated Bank Accounts, which are bank accounts separate from the bank accounts upon which candace finance own funds are held, in accordance with the provisions of the Electronic Money Regulations 2011. Where candace finance :

(a) receives funds directly from the Client for the purpose of using those funds; or

(b) redeems the Client’s Electronic Money for the purpose of using the corresponding funds to pay any monies owing to candace finance under any FX Contract, including any Security Payment or Margin Call, candace finance will hold those monies in an account specifically for this purpose (Transaction Account), which is not a Segregated Bank Account or candace finance bank account where it holds its own funds, until the FX Contract is executed.


If the Client fails to make any payment required under these Terms (including under any FX Contract or Payment Instruction) when it falls due, interest will be charged on the outstanding sum at a rate of three per cent per annum over the base rate of the Bank of England (or of such monetary authority as may replace it). Such interest shall accrue and be calculated daily from the date payment was due until the date the Client pays in full and shall be compounded monthly. candace finance may receive and retain or apply for its own benefit any interest which arises in respect of any sum held by candace finance in its Segregated Bank Accounts and Transaction Accounts.

26. CHANGES TO THESE TERMS candace finance may amend these Terms insofar as they relate to Foreign Exchange Services by notice in writing or on its website to the Client at any time and such amendments shall take effect from the date specified by candace finance but may not affect any rights or obligations that have already arisen and will not be retrospective.


If a Client is dissatisfied with any aspect of the services provided by candace finance , the Client may inform candace finance . All complaints should in the first instance be made in writing to candace finance marked for the attention of the CEO. candace finance will endeavour to review each complaint carefully and promptly.


31.1 The Client authorises candace finance to collect, use, store or otherwise process any personal information provided by the Client or from the searches by Clause (‘Personal Information’) to enable candace finance and/or members of candace finance to provide and/or improve its services. This may mean passing Personal Information to individuals or organisations which may be located in countries outside the EEA. Where the Client’s Personal Information is transferred outside the EEA, candace finance will take steps to ensure that it is appropriately protected.

candace finance may also use the Personal Information to provide the Client with news and other information on candace finance services and activities which may be useful to the Client, subject to the Client’s consent. If the Client would prefer its Personal Information not to be used for such purposes, it should contact candace finance at the above address.


33.1 These Terms and any relationship between candace finance and the client shall be governed by English law and subject to the exclusive jurisdiction of the English courts. 34. THE DIRECT DEBIT SCHEME GUARANTEE

34.1 This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. 34.2 If there are any changes to the amount, date or frequency of the Client’s Direct Debit candace finance will notify the Client 10 Business Days in advance of the Client’s account being debited or as otherwise agreed. If the Client requests candace finance to collect a payment, confirmation of the amount and date will be given to the Client at the time of the request.

34.3 If an error is made in the payment of the Client’s Direct Debit, by candace finance or the Client’s bank or building society, the Client is entitled to a full and immediate refund of the amount paid from its bank or building society. 34.4 If the Client receives a refund it is not entitled to, the Client must pay it back when candace finance asks it to.

34.5 The Client can cancel a Direct Debit at any time by simply contacting its bank or building society. Written confirmation may be required by that bank or building society. A copy of any written confirmation should be sent to candace finance.

1.Candace finance is not liable in any way for an agent's debts or disputes that may arise as a result of an agent's own mistakes.

2.Terms and Conditions 1. Important (a) These terms and conditions form part of your agreement with Candace finance ("Candace finance") and must be read carefully, since they apply as soon as you submit your application. We cannot accept responsibility for you failing to read them.�

3.Inde terms may be amended by us at any stage without prior notice.

26.Subject Access You have the right to access and the right to rectify your personal data by sending us a written request to the address given below: Candace finance 179c clarence road, E5 8EE. United Kingdom

27.Use of Third Party Services, Any third party to whom we provide access to your Personal Data shall be required to process your Personal Data in accordance with English law (including the Data Protection Act 1998) or in accordance with equivalent standards regardless of the data protection standards applicable in relation to that third party.

28.Changes to Privacy Policy, We reserve the right to change the Policy at any time. If we do so we will place an updated version on the Website you should ensure that you review the Policy on a regular basis. �

29.if you make a claim for a refund, we will refund any amount due to you, within 180 days subject to already stated conditions or amendment to them.

30. Exclusions (a) We shall not be liable for any breach of obligation to you by any bank, counterpart, intermediary or other third party with whom you do business. You will be liable for any loss you suffer as a consequence of you providing inaccurate information. If there is any partial non-performance of our obligations, provided we have made reasonable efforts to perform them you must give us full credit for doing so. We will incur no liability for any loss arising from non-performance law or regulations affecting how we normally operate.�

31.In the event that any of these terms (each of which is serviceable) is for any reason illegal, by us which is caused by something beyond our reasonable control including changes in the invalid or unenforceable, such provision is to be deemed modified sufficiently to render it enforceable, legal and valid and of similar effect as we intended. Apart from provisions expressly covering associate companies, nothing in these terms is enforceable by anyone who is not a party to them.�

32.Except for the rights expressly granted herein, this agreement does not transfer from Candace finance! to you any Candace finance! developed, licensed, or owned technology, and all rights, title, and interest in and to such technology will remain solely with Candace finance! the parties agree that they will not, directly or indirectly, reverse engineer, decompile, disassemble, or otherwise attempt to derive source code or other trade secrets from the other party.

33.Notwithstanding anything to the contrary in this agreement, you will not attempt to prohibit or enjoin Candace finance! at any time from utilizing any skills or knowledge of a general nature acquired during the course of providing the services, including, without limitation, information publicly known or available or that could reasonably be acquired in similar work performed for another customer of Candace finance!

34.You will not use Candace finance!'s name or any language, pictures, or symbols that could, in Candace finance!'s sole judgement, imply Candace finance!'s identity in any (i) written or oral advertising or presentation, or (ii) brochure, newsletter, book, or other written material of whatever nature, without Candace finance!'s prior written consent. you agree that any and all press releases and other public announcements related to this agreement and subsequent transactions between Candace finance! and you, including the method and timing of such announcements, must be approved in advance by Candace finance! in writing, which approval may be withheld in its sole discretion.

Any violation of your obligation regarding public announcements shall be a material breach of this agreement.