Terms and Conditions
THIS AGREEMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH PAXUM INC. (Paxum) WILL PROVIDE ITS ACCOUNT SERVICES. THIS AGREEMENT DESCRIBES USE AND CLOSURE OF YOUR PAXUM ACCOUNT AS WELL AS USER'S RIGHTS AND OBLIGATIONS WHEN USING THESE SERVICES. USER MUST READ THE AGREEMENT CAREFULLY AND BE SURE USER UNDERSTANDS THESE TERMS AND CONDITIONS. CREATION OR USE OF A PAXUM ACCOUNT MEANS USER ACCEPTS ALL THE TERMS AND CONDITIONS OF THIS AGREEMENT. FOR THE USE OF ADDITIONAL SERVICES YOU MAY HAVE TO ACCEPT ADDITIONAL TERMS AND CONDITIONS. THE PARTIES TO THIS AGREEMENT ARE PAXUM AND THE USER.
- "E-Wallet" a service that
provides Users with a convenient way to make electronic commerce transactions;
1.1 Paxum is a provider of E-Wallet Service. You agree that:
(a) Paxum is not a bank;
1.2 In order to use services provided by Paxum, User must meet rules listed below:
(a) You must be at least eighteen (18) years old to use services by Paxum. By opening an account with Paxum you declare that you are 18 years or older;
1.3 Paxum does not allow accounts opened by residents from the following countries:
Cuba; Iran, Islamic Republic of; Iraq; Libyan Arab Jamahiriya; Myanmar; Liberia; Sudan; Syrian Arab Republic; Zimbabwe; Rwanda; Vietnam; Cote D'ivoire; Congo; Somalia; Angola; Ethiopia; Yemen; Korea, Democratic People's Republic of; Congo, The Democratic Republic of the
2. OBLIGATIONS OF PAXUM
2.1 Paxum shall not disclose the PIN only reset the said PIN to cardholders for
whose use it has been issued.
3. OBLIGATIONS OF USERS
3.1 User must use the Card
in accordance with these terms and conditions and any amendment thereof.
(a) Any unauthorized Card Transactions;
3.3 User must:
(a) sign the Card with a ball point pen as soon as he receives
3.4 Paxum Users must not use Paxum for accepting and sending
payments for transaction involving:
(a) Gambling and/or gaming activities, including but not limited to
payment or the acceptance of payments for wagers, gambling debts or gambling
winnings, regardless of the location or type of gambling activity (including
online and offline casinos, sports wagering and office pools);
3.5 Paxum Users should not engage in any illegal activity including but not restricted to money laundering, terrorism, identity theft, etc. Suspicion of such activity will result in a full investigation and disclosure of User's information with all law enforcing agencies.
3.6 Exchange services (business or personal) are responsible for their KYC, and are held responsible for all incoming and outgoing transactions. Funds present in any account at any time are always the responsibility of the account owner and should be aware of their origin/provenance as he is responsible for their legitimacy. Paxum reserves the right to reverse transactions and seize funds in cases of proven fraud.
3.7 Transactions involving or related to Bitcoins or any other alternative currency or assets are prohibited due to our banking agreements. Any user found to be in violation of this condition will have the account revoked and the funds seized.
3.8 It is the user's responsibility to keep up to date with all terms and conditions, as found on the website. Users must periodically verify the terms and conditions for changes and/or additions. The terms included herein are subject to change at any time and without further notice.
3.9 A Paxum account contains confidential information and is not transferable to any other person or entity. The Paxum username can be transferred pending a verification of a contract between two parties. A company may also be transferred; for it to be accepted by Paxum, the new owner must present the updated registration showing the new owner(s), and the old owner must advise of the change for it to be approved.
3.10 Paxum is not responsible for fraudulent activity performed by its users. However, Paxum reserves the right to take legal action against users involved in fraudulent activity that brings prejudice to Paxum, monetarily or otherwise. In the case of legal action, Paxum's legal fees will be born by the users.
4.1 Paxum has the right to debit Current and Prepaid card account of the User with charges, commissions and fees listed on the Website. In the event of review of any of the above charges, commissions and fees, the reviewed fees shall appear on the Website or shall be notified to the User in any other way. The User agrees to visit the Website at least once a month, in order to obtain a copy of the amended fees.
5. Collection of Information
5.1 All transactions processed by Paxum are subject to the regulations governing the jurisdiction in which the transaction is processed. Paxum must adhere to the defined KYC and Anti-Money Laundering requirements of these regulations.
5.2 It is Paxum's responsibility to verify the User's identity prior to allowing access to its services. Paxum will require, among others, the following information from the Client:
(a) Full Name
5.3 Users must submit their identity papers electronically through Paxum's Account Center for verification by Paxum Verification Department. Your identity documents must contain your full name, address, and date of birth. Identity information submitted to Paxum must information registered under your Paxum Account.
5.4 Identity Documents submitted to Paxum must be issued by a Government Authority of the country of User's residence. Accepted Identity Documents By Paxum:
(a) Valid Passport;
5.5 In the case a bank-issued credit card is used to deposit funds, Paxum reserves the right to request a copy of both front and verso of the aforementioned card before approving any transaction. For the same type of transactions, Paxum reserves the right to reject any transaction it deems to be out of the ordinary and/or presents a risk.
6. ACCOUNT TERMINATION
6.1. Paxum reserves the right to terminate this agreement with the User for reasons below:
(a) Receipt of potentially fraudulent funds;
6.2 Paxum reserves the right to close and take further action against accounts involved in fraudulent activities, which includes, but not limited to: seizure of funds and providing information to the local or international authorities.
Should a disagreement or conflict arise, that could not be resolved through negotiations within reasonable delay, all disputes, controversy or claims arising out of or in connection with or in relation to this Agreement, including but not limited to any question regarding its existence, validity, interpretation, performance, enforcement or termination, shall be submitted to and be subject to the jurisdiction of the courts of Belize which shall have sole exclusive jurisdiction in the event of any dispute under this Agreement. The parties irrevocably submit and attorn to the jurisdiction of such courts to finally adjudicate or determine any suit, action or proceedings arising out of or in connection with this Agreement. Paxum Inc, a duly incorporated Belize company with its headquarters located at Blake Building, Eyre Hutson St Suite 102, Ground Floor, Belize City, Belize is the sole beneficiary of the E-Wallet and card operations.
8. Force Majeure
Paxum will not be responsible for delays or failures in the transmission, receipt or execution of orders, payments, and deliveries of information due to events beyond its control. The obligations of this contract precede any government enactment.
Last update: 07 November 2012