1. GENERAL SECTION
Terms&Conditions
1.1. These Terms & Conditions (hereinafter referred to as the “Terms”) of Hawex Operators (as defined below) regulate relations between Hawex Operators and individuals, corporate persons, personal companies and their analogues to whom Hawex Services (as defined below) are rendered, or who have applied to the Hawex (as defined below) for its services. Hawex Operators and the Client hereinafter are jointly referred to as the Parties.

1.2. Upon entering into business relations with Hawex, the Client certifies that it has studied the Terms, provisions of the respective agreements entered into with Hawex, the Hawex’s Fees and the general currency exchange rates set by Hawex, agrees thereto and recognizes the same as binding upon itself with regard to all Transactions.

1.3. The Terms shall constitute an integral part of all Transactions and agreements between the Parties. The Terms have the same legal force as other conditions of agreements concluded between the Parties. In case of any discrepancy between the norms of the Terms and the norms stipulated in any agreement between the Parties, the norms stipulated in the agreement between the Parties shall apply.

1.4. Current versions of the Terms, Fees, general currency exchange rates and interest rates set by Hawex Operators are available for the Client at the website hawex.com.

1.5. The Parties shall be entitled to conclude Transactions electronically in cases and in accordance with procedures stated by Hawex.

1.6. The headings and table of contents provided herein are for convenience of reference only and shall not affect construction or interpretation of these Terms.

1.7 Definitions

The terms listed below shall have the same meaning throughout this document
Beneficiary or Beneficial Owner
The person concerned receiving all interest and other benefits resulting from the Transactions
Charge
The remuneration for services rendered to the Client by Hawex Operators
Clients
The clients of Hawex Operators to whom Hawex Operators provides its services in line with these Terms
Closely Related Clients
Mean any persons to whom one or more of the following conditions apply: a. one of the persons controls, directly or indirectly, another person in connection with decisive influence, on the basis of an agreement on interest, concern agreement or similar relations; b. the persons are closely related to a person to which provisions a) of this paragraph applies; c. the persons have a common Beneficiary
Currency List
A list of currencies utilized by Hawex Operators
Current Account
The Current Account opened by the Client with Hawex Operators in line with these Terms
Hawex
refers to an ecosystem comprising Hawex websites (whose domain names include but are not limited to https://www.hawex.com), mobile applications, clients, applets and other applications that are developed to offer Hawex Services, and includes independently-operated platforms, websites and clients within the ecosystem. In case of any inconsistency between relevant terms of use of the above platforms and the contents of these Terms, the respective applicable terms of such platforms shall prevail. Hereinafter Hawex can be used in the meaning of the operating entity on a par with Hawex Operators under this Terms
Hawex Operators
refer to all parties that run Hawex, including but not limited to legal persons (including Hawex Group Ltd, incorporated in the United Kingdom of Great Britain and Northern Ireland with Company number 13502374, having its registered office at Unit 111470, Second Floor, 6 Market Place, London, Fitzrovia, W1W 8AF, United Kingdom;
Alsaqr Payment Services Provider, incorporated in the United Arab Emirates, Dubai, with license number 1087709, Mainland having registered office at Liberty Building, Land Area Al Garhoud, Plot №161-0, Land DM №214-505, Makani №32731 93073, Office № M3-0300, Dubai, United Arab Emirates;
Credex Multipay UAB, incorporated in the Republic of Lithuania with Company number 306072123, having its registered office at Eisiskiu Sodu 18-oji g.11, LT-02194 Vilnius, Republic of Lithuania), unincorporated organizations and teams that provide Hawex Services and are responsible for such services. For convenience, unless otherwise stated, references to “Hawex” and “we” in these Terms specifically mean Hawex Operators. UNDER THESE TERMS, HAWEX OPERATORS MAY CHANGE AS HAWEX’S BUSINESS ADJUSTS, IN WHICH CASE, THE CHANGED OPERATORS SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS. ADDITIONALLY, THE SCOPE OF HAWEX OPERATORS MAY BE EXPANDED DUE TO THE PROVISION OF NEW HAWEX SERVICES, IN WHICH CASE, IF YOU CONTINUE TO USE HAWEX SERVICES, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TERMS WITH THE NEWLY ADDED HAWEX OPERATORS. IN CASE OF A DISPUTE, YOU SHALL DETERMINE THE ENTITIES BY WHICH THESE TERMS ARE PERFORMED WITH YOU AND THE COUNTERPARTIES OF THE DISPUTE, DEPENDING ON THE SPECIFIC SERVICES YOU USE AND THE PARTICULAR ACTIONS THAT AFFECT YOUR RIGHTS OR INTERESTS
Hawex Services
refer to various services provided to you by Hawex Operators that are based on Internet and/or blockchain technologies and offered via Hawex websites, mobile applications, clients and other forms (including new ones enabled by future technological development). Hawex Services include but are not limited to such Hawex ecosystem components as Digital Asset Trading Platforms, the financing sector, consulting services and novel services to be provided by Hawex Operators
Internetbank
Internetbank means a system that allows Client to receive services provided by Hawex Operators via the Internet (through Website or mobile application) e.g., make fund transfers, pay bills, etc. Client can access the Internet Bank from a computer, tablet, smartphone simply through a browser. Internetbank considered to be secure communication channel between Hawex Operators and Client
FATF
The Financial Action Task Force
FATF Monitored Jurisdictions
The jurisdictions being monitored by the FATF
Notices
The notices sent by the Client to Hawex Operators in terms of clause 8.1 of these Terms
OFAC
The Office of Foreign Asset Control
Technical Overdraft
An overdraft for discharging the Client’s payment obligations to Hawex
Terms
These Terms and Conditions
Transaction
All transactions between the Client and Hawex Operators subject to these Terms
User
The authorized representative of the Client who shall be entitled to access the services on behalf of the Client
2. Amendment of Terms
2.1. Hawex Operators is entitled to unilaterally amend the Terms. Hawex will notify Client of any such amendments to Terms at the website hawex.com (publishing the text of the Terms). Hawex shall be entitled to inform Client of such amendments to Terms individually by means of a respective notice via Internetbank.

2.2. Amendments to the Terms shall enter into effect and become binding upon Client on 31st day from the date of notification at the website hawex.com, unless such amendments to the Terms or legal enactments of the applicable law provide for a different term of entering into effect. Hawex shall not be responsible for the Client’s losses or other expenses, should the Client fail to familiarize itself with amendments to Terms.

2.3. Amendments to the Terms shall not apply to the Transactions that have been executed and completed before the date on which amendments to the Terms enter into effect.

2.4. Should the Client fail to submit its objections to Hawex before the day on which amendments to the Terms become effective, the Client shall be deemed to agree to amending legal relations between the Parties as stated in amendments to the Terms. Should the Client disagree to the amendments, it shall be entitled to terminate its business relations with Hawex that are affected by the proposed amendments immediately, before the day on which amendments become effective, without penal sanctions applied. Should the relations be terminated, the Client shall submit all required documents to Hawex and take all required steps to discharge the obligations arising out of the legal relations between the Parties.
3. Representations
3.1. Client represents that:
a. Client has full legal capacity and ability to act in order to execute and perform Transactions;
b. Client has all rights, permissions, licenses and authorizations in order to execute and perform Transaction;
c. Transaction and all its consequences are binding upon the Client and do not cause infringements of the applicable laws;
d. The Client shall be deemed to be the Beneficiary of the Transactions with Hawex unless the Client has supplied Hawex with data on a different beneficiary of the Client;
e. All information supplied by the Client to Hawex, including information on its Beneficiary, activities, financial condition, and location, is true and is not misleading. All documents and Notices supplied by Client to Hawex are true and valid. Client has been informed of criminal responsibility for supplying Hawex with false information;
f. The Client has not offered, promised or given something or any preference to any Hawex’s employee, directly or indirectly, for the latter to act or abstain from any action in infringement of his duties;
g. The Client is not engaged in money laundering, that is, concealing or disguising the criminal origin of funds or other estate obtained as a result of criminal offence, or in terrorism financing, and the Client’s funds on deposit at Hawex have not been obtained through unlawful means;
h. The Client, the Client's authorized official or Beneficial Owner is not a citizen or resident of any FATF Monitored Jurisdictions, such as Iran, Democratic People's Republic of Korea (North Korea), or any other country or territory when according to FATF is considered or will be considered prohibited for cooperation. In case the Client, the Client's authorized official or Beneficial Owner is citizen or resident of FATF Monitored Jurisdictions or any of high risk third countries, Hawex AML department will take a decision regarding the possible termination with such Client. If the Client, the Client's authorized official or Beneficial Owner is citizen or resident of countries or territories with military actions (e.g., war) or political instability, or client's business activity is located or related to countries or territories with military actions or political instability, the Hawex AML department will also need to monitor such a relationship with the Client for money laundering risks which may result in the termination of the Client;
i. The Client, the Client's authorized official or Beneficial Owner or Client's related legal entity is not included in OFAC, United Nations sanctions regime;
j. the Client does not cooperate with the Iran, Democratic People's Republic of Korea (North Korea), or any other prohibited for cooperation country or territory included in financial sanctions regime, and does not cooperate with any individual or company included in the OFAC, United Nations sanctions regime;
k. Client is not a national or resident of Iran, Iraq, Democratic People's Republic of Korea (North Korea), Cuba, Syria, the Crimea, Donetsk and Luhansk regions, or any other country included in the OFAC, United Nations sanctions regime;
l. the Client does not cooperate with the Iran, Iraq, Democratic People's Republic of Korea (North Korea), Cuba, Syria, the Crimea, Donetsk and Luhansk regions or any other country, individual or company included in the OFAC, United Nations sanctions regime.

3.2. The Client’s representative, concluding the Transaction on behalf of Client, certifies that it is duly authorized and entitled to conclude the Transaction, sign documents of the Transaction, and carry out other actions required to perform the Transaction or related to the same. Should such certification be false, the Client’s representative concluding the Transaction on behalf of the Client assumes all obligations of the Client against Hawex.

3.3. Hawex shall be entitled to verify the representation and certification and other information supplied by the Client at any time. During such verification Hawex is entitled to abstain from performing any Transaction with the Client.
4. Client and its Representatives’ Identification and Authentication
4.1. Hawex shall identify the Client and its representatives, beneficiaries in accordance with the applicable law in relation to the prevention of Money Laundering and Financing of Terrorism and the requirements of Hawex. During customer registration, customer must specify his valid phone number and valid e-mail address to receive confirmation code via SMS and confirmation link via e-mail to proceed with account verification. The Client shall be obliged to supply Hawex with requested information and documents that certify authenticity of supplied information.
During clients - individuals verification Hawex shall request:
I. Identification documents such as passports or ID cards;
II. A photo of Client's facial image.
Hawex may request the recent confirmation of the actual address (e.g., utility bill, bank statement, bank reference letter, etc.) will be requested. Actual address confirmation document must be dated within last 3 (three) months from the document uploading date. If Client wants to increase limits, he will be asked to specify reasons for limits increasing in the Internetbank and to provide the source of funds confirmation and actual address confirmation document, if the documents were not provided before.
Depending on client registration country, additional questions regarding verification may be requested by the Hawex AML department.
For customers - legal entities verification Hawex shall request from the Client:
I. Legal entity foundation documents (e.g., Certificate of Incorporation, Articles of Association and any other document which may be requested at the discretion of Hawex);
I. Legal entity status confirmation documents (actual statement from business register, certificate of good standing, certificate of incumbency);
III. Legal entity's authorized representative identification document;
IV. Authorized representative selfie (where Client's authorized representative is holding the identification document);
V. Authorized representative recent confirmation of the actual address (e.g., utility bill, bank statement, bank statement, bank reference letter, etc.) and;
VI. Representative authority confirmation documents.
During legal entity verification all Beneficial Owners and authorized officials must be also verified. For Beneficial Owners and directors (or other authorized officials) verification, Hawex asks to upload;
I. Each person's ID documents; and
II. Actual address confirmation documents (e.g., utility bill, bank statement, bank reference letter, etc.). Actual address confirmation document must be dated within last 3 (three) months from the document uploading date.
Depending on legal entity complexity, additional questions regarding verification may be requested by the Hawex AML department which documents shall be requested at the sole and absolute discretion of Hawex.
4.2. The Client shall be entitled to remotely enter into Transactions or submit Notices by using the authentication means issued by Hawex (hereinafter referred to as the authentication means) following the procedure set by Hawex.
4.3. In these Terms, according to the context, the authentication means shall denote any or all of the following: the Internetbank user ID and password, authorization tools, authorization codes, mobile device unique identifier, Current Account password, payment card password, and other data used for the Client authentication pursuant to these Terms.
4.4. Hawex shall make the authentication means available to the Client or the Client’s representative authorized to act on behalf of the Client according to the Client’s power of attorney submitted to Hawex, who shall be the User. If the same individual is both the User and the Client or the User is the authorized representative of the Client–legal entity, Hawex shall authenticate such User as the Client proper.
4.5. The Client and the User recognize that any Transaction or Notice confirmed by using the authentication means of the User shall be true and binding upon the Client, the User, and Hawex, as well as shall have equal legal force as a Transaction or Notice bearing manual signature.
4.6. If the authentication means issued to the Client or the User become known to a third party, the Client shall be responsible for all consequences until the moment of notifying Hawex of the same in accordance with the form and procedures set by Hawex.
5. Confidentiality
5.1. Hawex acknowledges that all information related to Client, the Transaction and Client’s relations with third persons, and supplied by Client to Hawex, is confidential and shall not be disclosed to third persons without Client’s consent, except the information that:
a. Is publicly available, or
b. Is disclosed to an assignee on the rights of claim assigned, or is disclosed to third parties with regard to entering into partnership agreements or other financing agreements, or
c. Is required for financial institutions involved in execution of the Transaction applied for by Client, at their request, or
d. Might be evidence of a criminal offence or the Client’s breach under Transactions, or is necessary for detecting and investigating such, or
e. Is disclosed to third parties that supervise and audit Hawex’s operations, or
f. is provided to competent authorities for performing their functions pursuant to legal enactments, or
g. Is provided to tax administration authorities pursuant to provisions of the cooperation agreements made between Hawex and the tax administration authorities;
h. Is provided to the Hawex’s outsource service providers, personal data operators and attorneys, or
i. Is provided to Hawex’s cooperation partners that provide services to Hawex or with whom Hawex otherwise cooperates for the sake of execution of the Client’s Orders, Hawex’s transactions or functions, or for complying with the requirements set forth in the applicable legal acts, or
j. Is provided to foreign supervisory institutions pursuant to the provisions of applicable legal acts, or
k. Is provided to foreign tax administration authorities pursuant to the provisions of applicable legal acts, or
l. Is provided to the court, court of arbitration, or for the sake of out-of-court dispute resolution pursuant to the provisions of applicable legal acts, or
m. Was provided at Hawex’s discretion with regard to the Client or the persons related to the same, following the request from a correspondent bank and involved in execution of the Client’s payment order, or
n. Is the Client information (name, surname, identity No., and other identification data of the Client) supplied to the beneficiary of the payment applied for by the Client, according to the requirements of the payment processing schemes. The Client consents that on the instances mentioned in subparagraphs c–m of this paragraph 5.1, Hawex shall be also entitled to transfer information outside the country, complying with the procedure set forth in the applicable normative acts.

5.2. Confidential information is Hawex’s secret and is not to be disclosed. Confidential information may only be disclosed in compliance with the applicable law and these Terms.

5.3. The Client shall agree to Hawex being entitled to record and keep all intercommunication without prior notification and to unilaterally choose technical means for recording the same. The Client shall agree to Hawex being entitled to use intercommunication records as evidence for protecting its interests in settling disputes and in court.
Hawex shall not be obliged to store intercommunication records for the benefit of the Client.
6. PROXY
6.1. The Client shall be entitled to authorize a third person, including another Client of Hawex, provided Hawex’s prior written consent is obtained, to perform a Transaction on behalf of the Client. Such authorization shall be executed in writing, with the Client making such authorization in accordance with Hawex’s requirements. Hawex shall be entitled to refuse to conclude a Transaction with Client in case such authorization is executed in default of Hawex’s requirements, or Hawex has reason to believe such authorization is not valid. Hawex shall verify execution of the authorization; however, Hawex shall not be responsible for other conditions of validity.

6.2. A power of attorney submitted to Hawex shall be considered valid in relations between Client and Hawex until the moment when Client submits a written revocation of such power of attorney to Hawex. The rights of representation or attorney of the Client’s representatives are revoked from when Hawex accepts such revocation submitted by the Client, or validity of such power of attorney expires. Hawex shall not be responsible for losses or other additional expenses of Client, where a power of attorney is revoked and Hawex has not been notified accordingly in writing. Where a Client’s representative acts on the basis of substitution of Client’s representative (assignment), powers of such Client’s representative shall be considered extended, if the powers of the primary attorney have been extended, or where a power of attorney of similar content has been issued to the primary attorney and the assignment has no stated term of validity.

6.3. Client is obliged to ensure in compliance with Hawex requirements that Hawex is in constant possession of documents certifying powers of the Client’s representatives to act on behalf of the Client and identifying the Client’s representatives. Unless Client supplies Hawex with such documents, Hawex shall be entitled to immediately refuse to perform the Transaction in whole or in part.

6.4. Where another Client of Hawex is authorized to perform the Transactions on behalf of the Client, the representatives of such attorney shall be entitled to act on behalf of the principal, according to the card of specimen signatures submitted to Hawex by the attorney.

6.5. In case the Client’s outstanding payment liabilities to Hawex arising out of the Transactions between the Client and Hawex become due, Hawex is authorized to perform any of the actions listed below, at Hawex’s discretion without incurring any liability of any kind towards the Client:
a. Debit the amount of funds required for discharging the Client’s liabilities to Hawex from any account of the Client with Hawex;
b. Perform currency exchange Transactions with regard to the funds on any account of the Client with Hawex.
7. Data of an Individual
7.1. If Client, the Client’s representative or Beneficiary are individuals, the Client, the Client’s representative and Beneficiary, establishing business relations with Hawex, agree that Hawex is entitled to process all personal data of Client, the Client’s representative and Beneficiary in accordance with provisions of the applicable law, including person’s identity data. The reason and purpose of processing of personal data is for use in the needs of rendering the Hawex’s services and ensuring of Hawex’s activities and performance of Hawex’s functions. Hawex shall be entitled to request, to receive and to process personal data of Client and the Client’s representative from other sources, including from private systems for personal data processing and those of government and municipal institutions.

7.2. In cases of disclosure of Client’s information stated in these Terms, the data of individuals available to Hawex may be disclosed to third parties that render services to Hawex or represent Hawex’s interests, entrusted by Hawex with fulfilment of liabilities stated in these Terms, or with whom Hawex otherwise cooperates in securing its activities and performing its functions. The Client, Client’s representative and Beneficiary shall agree to persons that are provided individuals’ data on instances of disclosing the Client’s information pursuant to these Terms being entitled to process all personal data of the Client, Client’s representative and Beneficiary, including sensitive data and person’s identity numbers.

7.3. An individual on written application to Hawex is entitled to review such individual’s processed personal data available to Hawex and the individual may amend or correct same according to normative acts applicable on protection of personal data of individuals.

7.4. If Client and the Client’s representative are individuals, Hawex is entitled to use available personal data of such Client and the Client’s representative, in order to supply Client orally, by post or by electronic means with information on Hawex’s products and services.
8. Notices and Information Exchange
8.1. Any information, orders, applications, instructions, notices, complaints and requests arising out of the business relations between the Parties may be submitted in person, sent in writing through a postal operator, subject to Hawex’s prior consent also in electronic form — by email, via the Internetbank.
A Notice sent by the Client to Hawex by e-mail pursuant to prior arrangement with Hawex shall be valid only provided the same contains the Client’s authorization code calculated according to requirements of Hawex or the Notice is signed with a secure electronic signature. Notices to Hawex may be delivered orally as well in cases explicitly stated in these Terms or on instances defined as mandatory in the applicable law. All Notices submitted to Hawex shall be completed without corrections, deletions, erasures or lapsus calami, and shall be clearly legible and complying with the requirements set herein. All Notices shall bear the Client’s own signature, be signed with a secure electronic signature or confirmed with the Client’s authentication means ensured by Hawex.

8.2. Notices to Hawex that are sent through a postal operator shall be sent to the registered address of respective legal entity, and those shall be deemed received by Hawex upon they are recorded in Hawex’s document registry. Notices by the Client sent by e-mail shall be deemed received by the Hawex after Hawex confirms their receipt. Notices to the Client shall be sent through a postal operator to the Client’s registered address (for legal entities) or residential address (for individuals), or to another contact address last communicated by the Client. Hawex shall not be responsible for losses or expenses incurred by the Client or a third party in case the Client has not notified Hawex of change of address for sending of Notices, or has provided inaccurate or incorrect address designated for sending the Notices, and consequently has not received the Notices from Hawex, or has not received them in due time. Hawex shall also be entitled to send Notices to the Client following some other procedures set by Hawex, including communicating them via the Internetbank or other electronic means and orally.

8.3. If a Notice is sent to the Client through a postal operator, the same shall be considered received on the third working day after service to the postal operator, regardless of its actual receipt. In case a Notice is sent to the Client by electronic means of communication, the same shall be considered received at the moment of being sent, regardless of its actual receipt. Hawex shall not be responsible for losses or other additional expenses of the Client, which the Client may sustain due to transmission failure, delay or misuse of information. The Client authorizes all its representatives, as well as other persons being at the address where the Notices are sent to, to receive such Notices. In case any such authorized representative receives a Notice, the Client shall be considered to have received such Notice. Hawex is entitled to record oral Notices. The Client acknowledges such recordings of Hawex to constitute written Notices received.

8.4. Hawex’s seal and the signature of Hawex’s employee on Notice submitted by Client constitutes acceptance of such Notice for processing but does not trigger Hawex liability for execution of Notice. Execution of the Transaction is only evidenced by the Transaction being booked to the Client’s account or by a confirmation of its execution processed by Hawex.

8.5. Notices in English language only shall be legally valid. The Client shall agree on the language for receiving Account statement or the Client’s Notice which shall be the language in which such communication shall be received. In case receipt of Account statement has not been applied for, Hawex shall be entitled to send Notices to the Client in the language of the Client’s Notice submitted to Hawex. Client is obliged to make a Notice clear and certain. Hawex is entitled to refuse to execute an unclear Notice at its own discretion in full or partially. In case figures in the Notice are stated both in words and in numbers simultaneously, figures stated in words are valid in case of discrepancies.

8.6. If Hawex considers there to be potential inadequacies in the Client’s Notice, including with respect to its authenticity or validity, or has doubts concerning the document content, Hawex is entitled to request that the Client should repeat the Notice according to the form specified or request that the Notice should be translated into the English language and legalized. Hawex is entitled to refuse execution of the Notice until a repeat Notice is received.

8.7. The Client’s order submitted to Hawex is valid for 6 business days of Hawex from the date of submission of such order to Hawex.

8.8. Hawex shall process Notices on working days (that is on all days except Saturdays, Sundays and holidays) during normal working hours. If the Hawex has accepted a Notice at any other time, the following working day shall be considered the date of acceptance of the Notice for execution.

8.9. Hawex shall be entitled to send on its own initiative any Notices to the Client about services provided by Hawex via texts (SMS) or e-mail to the Client’s mobile telephone numbers and e-mail addresses confirmed by the Client, also signing the Notices with a secure electronic signature.
9. The Client’s Obligation of Cooperation and the Compliance Requirements
9.1. The Client is obliged to immediately notify Hawex of changes in personal and registration data of the Client and its representatives, data of identity documents, address, other contact information, legal capacity and ability to act, important changes in its financial condition, as well as of amendments to or termination of powers of attorney submitted to Hawex, and of the Transaction Beneficiaries. Such obligation of notice shall apply even if changes in Client information submitted to Hawex are included in public registers.

9.2. Hawex shall provide the Client with all information on the Transactions booked to the account through access to an electronic account report in Internetbank. The Client shall be entitled to receive other types of account statements or reports by special request, paying the Charge stated in the Fees. In case of discrepancies between the information of the Client and Hawex about the state of the Client's account, account balance, transactions and other information related to payment transactions on the Client's account, the information of Hawex shall prevail.
It shall be the Client’s sole responsibility to monitor Transactions booked to the account and check whether they correspond to those actually performed. The Client shall agree that for the purposes of these Terms an account statement / report shall be deemed primary evidence of the Transactions performed by the Client, constituting sufficient grounds for ascertaining the respective fact. The Client shall agree that, unless stated otherwise herein, should the Client fail to immediately, within ten (10) calendar days from the date of receipt of the statement / report inform Hawex of deficiencies, the Client shall be considered to have confirmed that the account statement / report is correct and complete. Immediately replying to Hawex's request, the Client shall supply Hawex with all documentary evidence of, and information on Transactions booked to the account, those Transactions actually performed, and any Transactions not authorized by the Client.

9.3. If Client’s account has been credited with funds or financial instruments through Hawex’s error, Hawex shall be entitled to debit Client’s account with such funds or financial instruments without acceptance.

9.4. The Parties agree that Clients are not entitled to assign their claims against Hawex to third persons without Hawex’s written consent.

9.5. The Client shall be obliged to inform Hawex of any facts and events known to the Client that may be evidence of and/or lead to unfair gain for the Client and/or cause losses for Hawex.

9.6. The Client is obligated to immediately provide to Hawex all requested information, explanations and/or documents on:
I. The business activity of the Client or its business partners;
II. Transactions, which are executing using the Current account in Hawex;
III. The purposes of Hawex’s operations requested from Hawex or the origin of funds, which have been obtained as a result of Hawex’s operations;
IV. Compliance of Hawex’s operations in regards to the business activity of the Client or the Client’s business partners;
V. Client’s representatives and beneficiaries;
VI. Any other information necessary for Hawex to duly fulfill requirements regarding the prevention of money laundering and terrorism and proliferation financing, as well as sanctions violation.
It shall be the Client’s obligation to supply Hawex with requested information and documents.
The Client will be informed about the determination of the tax residence of the Client and its Beneficiary as well as the classification of the Client (active or passive nonfinancial organization, financial institution, international organization, or central bank) done by Hawex. The Client shall also be informed on the reporting on the Client’s accounts and Beneficiary to the relevant tax authorities, unless prohibited by law, performed by Hawex on instances set forth in external normative acts. The Client shall supply up-to-date and complete information about the tax residence of the Client and its Beneficiary and classification of the Client on the Client’s own initiative and following Hawex request.

9.7 The Client shall be liable for the losses that might be incurred by Hawex where the Client fails to timely provide up-to-date and complete information on the Client’s own initiative or following Hawex request, due to which the tax residence of the Client and Beneficiary and classification of the Client are not determined properly and incorrect or unnecessary information about the Client or its Beneficiary is supplied by Hawex to the respective authorities.
10. Charges. Payments to Hawex
10.1. Client shall pay the relevant Charges to Hawex according to the procedures and to the amount stated in the Terms and Hawex’s respective Fees stated at the website hawex.com. Depending on the type of commercial activity and turnover of the Client other fees may be applied than those stated at the website hawex.com.
The Fees that are valid as of the time of rendering the service shall set the amount and procedures of payment of the Charges. Hawex shall be entitled to unilaterally amend the Fees. Such amendments shall enter into effect on the 31st day after adoption of same, unless the amendments or the applicable law states otherwise. Hawex shall inform the Client of amendments to the Fees by means of publication at the website hawex.com. Hawex shall additionally inform the Client individually of the amendments to the Fees on instances stipulated in the applicable law only. Hawex shall also be entitled to inform Client of amendments to the Fees individually by means of a respective notice via Internetbank. Should the Client fail to submit its objections to Hawex before the day on which amendments to the Fees become effective, the Client shall be deemed to agree to those amendments.
Should the Client disagree to the amendments, it shall be entitled to refuse being rendered a corresponding service by Hawex and to terminate its business relations with Hawex that are affected by the proposed amendments immediately, before the day on which amendments become effective at the latest, without penal sanctions applied. Should the relations be terminated, the Client shall submit all required documents to Hawex and take all required steps to discharge the obligations arising out of the legal relations between the Parties.

10.2. The general currency exchange rates and reference interest rates (the rates used by Hawex to calculate the interest applicable to the Transaction, which the Client can check using publicly available source) set by Hawex shall not be included in the Fees and shall be stated at the moment of rendering the respective service. Unless stated otherwise in the agreements between the Parties, the Client consents that the general currency exchange rates and reference interest rates set by Hawex may be changed any time without prior notification, also during working day, considering currency exchange rate and reference interest rate fluctuations in financial markets. Those amendments shall become effective upon the Client is notified about them, i.e., upon publishing the changes at the Hawex’s website hawex.com. The Client shall agree that the general currency exchange rate published by Hawex may differ from the currency exchange rate applied to a particular Transaction, and Hawex shall be entitled to inform the Client of the same only after execution of the Transaction by means of account statement / report. The Client is required to familiarize itself with the Fees, currency exchange rates and reference interest rates before applying for any service with Hawex. Hawex is entitled to unilaterally state and cancel discounts for Client. Hawex is entitled to state the Charges for services that are not included in the Fees at its own discretion. Such Charges are valid from the moment when the Client receives a respective Notice.

10.3. The Charges must be paid before execution of the service, unless Hawex has stated different procedures of payment of Charges. Unless Client has paid Charges to Hawex for Hawex’s service, Hawex is entitled to cease rendering such service to Client or refuse rendering the service without any notice. If Hawex terminates or refuses rendering the service to Client because of the reasons mentioned in the previous sentence, Hawex shall not be responsible for Client’s losses or other additional expenses of Client. Hawex shall be entitled to continue rendering the service at Hawex’s own discretion in case the Client has not paid the Charges for Hawex’s service, Hawex consequently acquiring the corresponding rights of claim towards the Client of the amount equal to the Charge.

10.4. If taxes, duties or similar payments are levied on Charges, Hawex shall be entitled to withhold such payments from the Client, with the Charge amount being increased accordingly.

10.5. Hawex is entitled to debit any account (Client’s Current Account is the first to be debited) of Client with amount of any claim due under the Transactions the Client applied for (including amounts of payments applied for by the Client, Charges, forex transactions, taxes, duties, etc.) that the Client has undertaken to perform and/or Hawex is entitled to under the Terms without acceptance by Client. Unless a sufficient balance in the payment currency is available in Client’s account at the moment when such payment is to be made, Hawex shall be entitled to debit the amount of its claim in a different currency at the general currency exchange rate stated by Hawex effective as of the moment of debiting the claim amount.

10.6. If Client defaults on its liabilities against Hawex in full or in part, or if Client’s insolvency proceedings, legal protection proceedings or Client’s liquidation process has been initiated, Hawex shall be entitled to use Client’s funds available at Hawex for decreasing the amount of the Client’s liabilities or discharging those completely.

10.7. Prior to the beginning of the Transaction, Client can see an updated currency exchange rate in its profile and, by accepting the Transaction, Client shall simultaneously agree with this currency exchange rate.
11. Security of Hawex’s Claims against the Client
11.1. All Client’s funds (money, etc.) and/or the Client’s rights of claim on repayment of such funds against Hawex, that are or will be held in the Client’s accounts with Hawex, shall serve as financial collateral for the fulfilment of obligations of the Client and its closely related Clients (paragraph 11.3 of the Terms below) against Hawex and shall be pledged with Hawex as the Financial Pledge. Financial Pledge shall secure all obligations of Client and its closely related Clients (paragraph 11.3 of the Terms below) against Hawex, including future obligations. Hawex shall only be liable for losses caused to Financial Pledge by Hawex’s wrongful intent. Hawex shall be entitled to use Financial Pledge and its future parts thereof as security. Remuneration for such use shall be paid by Hawex, in case it is provided for in Fees.

11.2. Hawex shall be entitled to satisfy all Hawex’s claims against Client by enforcing the Financial Pledge even before due date of performance of obligations and without any prior Notice to Client on the following instances:
• the Client, a client closely related to the same, or another Client, in respect of obligations of which surety is provided for, defaults on its obligations to Hawex in full or in part, or
• the Client or the person acting as a surety in respect of the Client’s obligations has filed an application for initiating legal protection proceedings of the Client, or
• insolvency proceedings of the Client or the person acting as a surety for the performance of obligations of the Client have been initiated in accordance with the procedure specified in normative acts, or
• reorganization or liquidation process of the Client or the person acting as a surety for the performance of obligations of the Client have been initiated,
• restrictions are set on the rights and activities of the Client rendering financial, management and/or insurance services or the rights and activities of the person acting as a surety in respect of the Client’s obligations and rendering financial, management and/or insurance services, including complete or partial suspension of the rendering of financial services, appointment of the authorized person of supervisory authority, or license cancellation.
In cases where Financial Pledge constitutes funds, Hawex shall be entitled to debit (transfer) the amount due from any Client’s account with Hawex or from funds otherwise due to Client. Financial Pledge in possession of Hawex shall be considered to have been transferred to Hawex in connection with all Hawex’s claims against Client, Client’s debt to Hawex and subsequent debts of Client to Hawex are payable from such Financial Pledge, and Hawex is entitled to exercise a lien upon the Financial Pledge and to alienate or use it without any Notice or special reminder to Client. Hawex shall be entitled to exercise detainer rights on Financial Pledge. Hawex shall be entitled to use Financial Pledge replacing it with a pledge of equal value.

11.3. Client is jointly responsible for all liabilities to Hawex of other Clients who are closely related to Client, as the debtor proper. The Client is liable for the liabilities of Closely Related Clients, if such Clients were closely related at any moment during the period of time of the existence or continuation of such liabilities.

11.4. The provisions of this section concerning the security of Hawex’s claims against the Client shall not restrict Hawex’s right to exercise the power set forth in clause 6.5 of the Terms above.
12. Responsibility
12.1. The Party at fault for default of the term of any payment shall pay to the other Party a penalty of one tenth per cent of the outstanding amount per day of delay, however not more than ten per cent (10%) of the outstanding amount, unless stated otherwise in the normative acts, Fees or other section of the Terms with regard to the respective financial service. Payment of the penalty shall not release the Parties from the requirement of fulfilment of their liabilities not discharged in due time or unduly discharged timely.

12.2. Payment of the penalty shall include reimbursement for all the Client’s losses. Hawex shall be responsible for losses of the Client sustained in connection with the Transaction between the Parties, only if such losses are due to Hawex’s wrongful intent. In case of Hawex’s wrongful intent, Hawex shall only reimburse Client for direct losses sustained.

12.3. Hawex shall not be responsible for default of its liabilities in whole or in part, provided such default has arisen due to circumstances beyond Hawex’s control, including acts of terror, war, fires, explosions, civil unrest, strikes, acts of God, acts issued by government institutions, actions of third persons, break-downs, faults or errors of computers or other means of communication.

12.4. In no event shall Hawex be liable in any way for any indirect damages of any kind, including loss of profits, loss of business, loss of future earnings and any other kind of indirect damages.

12.5 Without prejudice to any other provision contained in these Terms, Hawex’s total liability for any one breach under these Terms shall in no event exceed the amount of Fees charged in one (1) calendar year.
13. Termination and Restriction of the Transaction
13.1. Unless stated otherwise in the agreement between the Parties or in these Terms, any agreement entered into by the Parties shall be deemed to be of indefinite duration.

13.2. Each Party hereto shall be entitled to unilaterally terminate all or individual contractual relations existing between the Parties hereto, servicing a Notice of termination of contractual relations stated therein to the other Party hereto at least thirty (30) calendar days before the date of termination of such contractual relations, unless stated otherwise or in special conditions and in other laws.

13.3. Hawex shall be entitled to unilaterally refuse, or abstain from, execution of a Transaction in full or in part, suspend or terminate any Transaction, change the term of executing the Transaction, set restrictions on any Transaction, inter alia, freezing or attach the funds and assets, limiting the availability of Hawex’s products or services to the Client, as well as restrict, suspend or terminate any contractual relations with the Client without serving a Notice to the Client and without reimbursing the Client for any losses or additional expenses in the following cases:
a. The Client has defaulted on the present Terms or the Client’s certification appears to be false;
b. A person who is not validly identified or authorized is suspected of acting on behalf of the Client;
c. Suspected involvement of the Client in money laundering, terrorism financing, or attempted money laundering or terrorism financing;
d. Fraud is suspected or the Client is suspected to allow a legally punishable, dishonest or unethical action, or if Hawex has reason to consider that further cooperation with the Client is to the detriment of Hawex’s honor, credit or reputation;
e. Suspicion of the death of a Client who is an individual or liquidation of a Client who is a legal entity;
f. The Client fails to supply Hawex with the requested information and documents in the cases specified in paragraph 9.6 of the Terms above, or Hawex suspects such supplied information or documents to be inconsistent with actual circumstances;
g. If during the agreement period Hawex finds out that the Client has provided Hawex with false information or, if Hawex suspects that the information which has been provided is false;
h. It is conditioned by the necessity to meet the requirements of the financial institutions or organizations involved in execution of the Transaction applied for by Hawex;
i. The Transaction is suspected to result in direct or indirect violation of sanctions set by the United Nations Organization or other international organization whose recommendations Hawex is obliged to follow;
j. The Transaction contradicts Hawex’s internal Client or risk management policies;
k. The Client cancels the use of the Internetbank;
l. Hawex considers the same to be necessary in order to secure Hawex's right to the Financial Pledge;
m. Hawex considers some default on the Client's obligations to have occurred or to possibly occur.

13.4. Hawex is entitled to close unilaterally without prior notice the Client’s account if the Client does not utilize its account for Transactions for more than six (6) months in succession.

13.5. Termination of the agreement entered into by the Parties shall not entail termination of their non-discharged obligations established before the agreement termination. All non-discharged obligations of the Parties established before terminating the agreement shall be discharged in accordance with the Terms and provisions of the agreements entered into.
In case of terminating the agreement:
a. In the case of Transaction entered into by the Parties, regardless the reasons for such termination, the Client shall be required to adhere to all obligations arising out of the agreement
b. In the case of Transaction being terminated, the relevant Charges shall become due, and the Client shall be obliged to pay Charges, cover incurred losses and discharge all obligations that arise out of the agreement
c. In the case of Transaction being terminated in full to Hawex, the Client shall remain liable to comply with the provisions of the agreement and these Terms, as well as to provide adequate collateral, if so requested by Hawex.
The Client shall be obliged to discharge the obligations assumed by the Client pursuant to the agreement, Transaction provisions and these Terms also after termination of the agreement or Transaction, until the Client’s obligations to Hawex are discharged in full, and shall also pay Hawex a penalty or overdue interest for delaying payments under the Client’s principal obligation in accordance with these Terms. Documents submitted by the Client for the sake of conclusion of an agreement or Transaction and performance of Hawex’s operations shall not be returned to the Client.

13.6. In the event of the death of the Client, Hawex shall be entitled to abstain from execution of the Notices of the Client’s representatives for the purpose of protection of the Client’s estate. Where the Client’s Beneficiary has died and the Client fails to provide the information and documents about the new Beneficiary or about an uncompleted inheritance process to Hawex, Hawex shall be entitled to abstain from execution of the Client’s Transactions. The heirs shall be obliged to submit a document certifying their respective rights to Hawex in order to dispose of the deceased Client’s estate, as well as shall provide instructions on further disposal of such estate.

13.7. The Client shall discharge all liabilities arising out of the contractual relations with Hawex on the day of terminating the contractual relations at the latest.

13.8. If the Client’s account with Hawex is closed following Hawex’s initiative or the Client fails to supply Hawex with instructions on transfer / outpayment of the account balance, the account balance shall be kept with Hawex, no interest shall be accrued on the same, and, in line with the Terms, the account balance shall be paid out upon the Client’s request pursuant to the respective application made in accordance with Hawex’s requirements. Hawex shall be entitled to withhold charge for keeping the account balance after the account closure in accordance with the Rates and Charges. Before paying the balance out, Hawex shall be entitled to perform identification of the Client following the procedure set forth in section 4 above.
14. Applicable Legal Enactments and Procedures of Disputes Resolution
14.1. Business relations between the Parties shall be subject to the legal acts applicable to the respective Hawex Operator, international banking practice and customary practices. Hawex shall apply special legal norms set forth in the normative acts on consumer rights protection to business relations with the Clients that are recognized as consumers under the normative acts on consumer rights protection applicable to the respective Hawex Operator.

14.2. Disputes between the Client and Hawex may be resolved by the Parties through mutual negotiations.

14.3. Any Client grievance or claim (hereinafter referred to as the “Claims”) against Hawex shall be resolved out-of-court on the following basis: a. the Client shall address its Claim to Hawex; b. Hawex shall register the Client’s Claim and consider the same within thirty days of submission of such Claim and all documents requested by Hawex in this connection. However, should preparation of a response require additional time, Hawex shall be entitled to extend the term of the Claim consideration, notifying the Client accordingly.

14.4. Any dispute, discord or Claim ensuing from business relations of the Parties hereto, or the default, termination, lawfulness, validity or translation thereof shall be resolved at the discretion of the claimant at the courts at the place of the respective Hawex Operator.

14.5. Should any clause of these Terms become void because of amendments to the normative acts, the other clauses of these Terms shall remain in full force and effect, and this being the case the Parties shall apply the Terms in accordance with the requirements of the effective normative acts.
Terms & Conditions
  1. GENERAL SECTION
Terms&Conditions
1.1. These Terms & Conditions (hereinafter referred to as the “Terms”) of Hawex Operators (as defined below) regulate relations between Hawex Operators and individuals, corporate persons, personal companies and their analogues to whom Hawex Services (as defined below) are rendered, or who have applied to the Hawex (as defined below) for its services. Hawex Operators and the Client hereinafter are jointly referred to as the Parties.

1.2. Upon entering into business relations with Hawex, the Client certifies that it has studied the Terms, provisions of the respective agreements entered into with Hawex, the Hawex’s Fees and the general currency exchange rates set by Hawex, agrees thereto and recognizes the same as binding upon itself with regard to all Transactions.

1.3. The Terms shall constitute an integral part of all Transactions and agreements between the Parties. The Terms have the same legal force as other conditions of agreements concluded between the Parties. In case of any discrepancy between the norms of the Terms and the norms stipulated in any agreement between the Parties, the norms stipulated in the agreement between the Parties shall apply.

1.4. Current versions of the Terms, Fees, general currency exchange rates and interest rates set by Hawex Operators are available for the Client at the website hawex.com.

1.5. The Parties shall be entitled to conclude Transactions electronically in cases and in accordance with procedures stated by Hawex.

1.6. The headings and table of contents provided herein are for convenience of reference only and shall not affect construction or interpretation of these Terms.

1.7 Definitions

The terms listed below shall have the same meaning throughout this document
Beneficiary or Beneficial Owner
The person concerned receiving all interest and other benefits resulting from the Transactions
Charge
The remuneration for services rendered to the Client by Hawex Operators
Clients
The clients of Hawex Operators to whom Hawex Operators provides its services in line with these Terms
Closely Related Clients
Mean any persons to whom one or more of the following conditions apply: a. one of the persons controls, directly or indirectly, another person in connection with decisive influence, on the basis of an agreement on interest, concern agreement or similar relations; b. the persons are closely related to a person to which provisions a) of this paragraph applies; c. the persons have a common Beneficiary
Currency List
A list of currencies utilized by Hawex Operators
Current Account
The Current Account opened by the Client with Hawex Operators in line with these Terms
Hawex
refers to an ecosystem comprising Hawex websites (whose domain names include but are not limited to https://www.hawex.com), mobile applications, clients, applets and other applications that are developed to offer Hawex Services, and includes independently-operated platforms, websites and clients within the ecosystem. In case of any inconsistency between relevant terms of use of the above platforms and the contents of these Terms, the respective applicable terms of such platforms shall prevail. Hereinafter Hawex can be used in the meaning of the operating entity on a par with Hawex Operators under this Terms
Hawex Operators
refer to all parties that run Hawex, including but not limited to legal persons (including Hawex Group Ltd, incorporated in the United Kingdom of Great Britain and Northern Ireland with Company number 13502374, having its registered office at Unit 111470, Second Floor, 6 Market Place, London, Fitzrovia, W1W 8AF, United Kingdom;
Alsaqr Payment Services Provider, incorporated in the United Arab Emirates, Dubai, with license number 1087709, Mainland having registered office at Liberty Building, Land Area Al Garhoud, Plot №161-0, Land DM №214-505, Makani №32731 93073, Office № M3-0300, Dubai, United Arab Emirates;
Credex Multipay UAB, incorporated in the Republic of Lithuania with Company number 306072123, having its registered office at Eisiskiu Sodu 18-oji g.11, LT-02194 Vilnius, Republic of Lithuania), unincorporated organizations and teams that provide Hawex Services and are responsible for such services. For convenience, unless otherwise stated, references to “Hawex” and “we” in these Terms specifically mean Hawex Operators. UNDER THESE TERMS, HAWEX OPERATORS MAY CHANGE AS HAWEX’S BUSINESS ADJUSTS, IN WHICH CASE, THE CHANGED OPERATORS SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS. ADDITIONALLY, THE SCOPE OF HAWEX OPERATORS MAY BE EXPANDED DUE TO THE PROVISION OF NEW HAWEX SERVICES, IN WHICH CASE, IF YOU CONTINUE TO USE HAWEX SERVICES, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TERMS WITH THE NEWLY ADDED HAWEX OPERATORS. IN CASE OF A DISPUTE, YOU SHALL DETERMINE THE ENTITIES BY WHICH THESE TERMS ARE PERFORMED WITH YOU AND THE COUNTERPARTIES OF THE DISPUTE, DEPENDING ON THE SPECIFIC SERVICES YOU USE AND THE PARTICULAR ACTIONS THAT AFFECT YOUR RIGHTS OR INTERESTS
Hawex Services
refer to various services provided to you by Hawex Operators that are based on Internet and/or blockchain technologies and offered via Hawex websites, mobile applications, clients and other forms (including new ones enabled by future technological development). Hawex Services include but are not limited to such Hawex ecosystem components as Digital Asset Trading Platforms, the financing sector, consulting services and novel services to be provided by Hawex Operators
Internetbank
Internetbank means a system that allows Client to receive services provided by Hawex Operators via the Internet (through Website or mobile application) e.g., make fund transfers, pay bills, etc. Client can access the Internet Bank from a computer, tablet, smartphone simply through a browser. Internetbank considered to be secure communication channel between Hawex Operators and Client
FATF
The Financial Action Task Force
FATF Monitored Jurisdictions
The jurisdictions being monitored by the FATF
Notices
The notices sent by the Client to Hawex Operators in terms of clause 8.1 of these Terms
OFAC
The Office of Foreign Asset Control
Technical Overdraft
An overdraft for discharging the Client’s payment obligations to Hawex
Terms
These Terms and Conditions
Transaction
All transactions between the Client and Hawex Operators subject to these Terms
User
The authorized representative of the Client who shall be entitled to access the services on behalf of the Client
2. Amendment of Terms
2.1. Hawex Operators is entitled to unilaterally amend the Terms. Hawex will notify Client of any such amendments to Terms at the website hawex.com (publishing the text of the Terms). Hawex shall be entitled to inform Client of such amendments to Terms individually by means of a respective notice via Internetbank.

2.2. Amendments to the Terms shall enter into effect and become binding upon Client on 31st day from the date of notification at the website hawex.com, unless such amendments to the Terms or legal enactments of the applicable law provide for a different term of entering into effect. Hawex shall not be responsible for the Client’s losses or other expenses, should the Client fail to familiarize itself with amendments to Terms.

2.3. Amendments to the Terms shall not apply to the Transactions that have been executed and completed before the date on which amendments to the Terms enter into effect.

2.4. Should the Client fail to submit its objections to Hawex before the day on which amendments to the Terms become effective, the Client shall be deemed to agree to amending legal relations between the Parties as stated in amendments to the Terms. Should the Client disagree to the amendments, it shall be entitled to terminate its business relations with Hawex that are affected by the proposed amendments immediately, before the day on which amendments become effective, without penal sanctions applied. Should the relations be terminated, the Client shall submit all required documents to Hawex and take all required steps to discharge the obligations arising out of the legal relations between the Parties.
3.1. Client represents that:
a. Client has full legal capacity and ability to act in order to execute and perform Transactions;
b. Client has all rights, permissions, licenses and authorizations in order to execute and perform Transaction;
c. Transaction and all its consequences are binding upon the Client and do not cause infringements of the applicable laws;
d. The Client shall be deemed to be the Beneficiary of the Transactions with Hawex unless the Client has supplied Hawex with data on a different beneficiary of the Client;
e. All information supplied by the Client to Hawex, including information on its Beneficiary, activities, financial condition, and location, is true and is not misleading. All documents and Notices supplied by Client to Hawex are true and valid. Client has been informed of criminal responsibility for supplying Hawex with false information;
f. The Client has not offered, promised or given something or any preference to any Hawex’s employee, directly or indirectly, for the latter to act or abstain from any action in infringement of his duties;
g. The Client is not engaged in money laundering, that is, concealing or disguising the criminal origin of funds or other estate obtained as a result of criminal offence, or in terrorism financing, and the Client’s funds on deposit at Hawex have not been obtained through unlawful means;
h. The Client, the Client's authorized official or Beneficial Owner is not a citizen or resident of any FATF Monitored Jurisdictions, such as Iran, Democratic People's Republic of Korea (North Korea), or any other country or territory when according to FATF is considered or will be considered prohibited for cooperation. In case the Client, the Client's authorized official or Beneficial Owner is citizen or resident of FATF Monitored Jurisdictions or any of high risk third countries, Hawex AML department will take a decision regarding the possible termination with such Client. If the Client, the Client's authorized official or Beneficial Owner is citizen or resident of countries or territories with military actions (e.g., war) or political instability, or client's business activity is located or related to countries or territories with military actions or political instability, the Hawex AML department will also need to monitor such a relationship with the Client for money laundering risks which may result in the termination of the Client;
i. The Client, the Client's authorized official or Beneficial Owner or Client's related legal entity is not included in OFAC, United Nations sanctions regime;
j. the Client does not cooperate with the Iran, Democratic People's Republic of Korea (North Korea), or any other prohibited for cooperation country or territory included in financial sanctions regime, and does not cooperate with any individual or company included in the OFAC, United Nations sanctions regime;
k. Client is not a national or resident of Iran, Iraq, Democratic People's Republic of Korea (North Korea), Cuba, Syria, the Crimea, Donetsk and Luhansk regions, or any other country included in the OFAC, United Nations sanctions regime;
l. the Client does not cooperate with the Iran, Iraq, Democratic People's Republic of Korea (North Korea), Cuba, Syria, the Crimea, Donetsk and Luhansk regions or any other country, individual or company included in the OFAC, United Nations sanctions regime.

3.2. The Client’s representative, concluding the Transaction on behalf of Client, certifies that it is duly authorized and entitled to conclude the Transaction, sign documents of the Transaction, and carry out other actions required to perform the Transaction or related to the same. Should such certification be false, the Client’s representative concluding the Transaction on behalf of the Client assumes all obligations of the Client against Hawex.

3.3. Hawex shall be entitled to verify the representation and certification and other information supplied by the Client at any time. During such verification Hawex is entitled to abstain from performing any Transaction with the Client.
3. Representations
4. Client and its Representatives’ Identification and Authentication
4.1. Hawex shall identify the Client and its representatives, beneficiaries in accordance with the applicable law in relation to the prevention of Money Laundering and Financing of Terrorism and the requirements of Hawex. During customer registration, customer must specify his valid phone number and valid e-mail address to receive confirmation code via SMS and confirmation link via e-mail to proceed with account verification. The Client shall be obliged to supply Hawex with requested information and documents that certify authenticity of supplied information.
During clients - individuals verification Hawex shall request:
I. Identification documents such as passports or ID cards;
II. A photo of Client's facial image.
Hawex may request the recent confirmation of the actual address (e.g., utility bill, bank statement, bank reference letter, etc.) will be requested. Actual address confirmation document must be dated within last 3 (three) months from the document uploading date. If Client wants to increase limits, he will be asked to specify reasons for limits increasing in the Internetbank and to provide the source of funds confirmation and actual address confirmation document, if the documents were not provided before.
Depending on client registration country, additional questions regarding verification may be requested by the Hawex AML department.
For customers - legal entities verification Hawex shall request from the Client:
I. Legal entity foundation documents (e.g., Certificate of Incorporation, Articles of Association and any other document which may be requested at the discretion of Hawex);
I. Legal entity status confirmation documents (actual statement from business register, certificate of good standing, certificate of incumbency);
III. Legal entity's authorized representative identification document;
IV. Authorized representative selfie (where Client's authorized representative is holding the identification document);
V. Authorized representative recent confirmation of the actual address (e.g., utility bill, bank statement, bank statement, bank reference letter, etc.) and;
VI. Representative authority confirmation documents.
During legal entity verification all Beneficial Owners and authorized officials must be also verified. For Beneficial Owners and directors (or other authorized officials) verification, Hawex asks to upload;
I. Each person's ID documents; and
II. Actual address confirmation documents (e.g., utility bill, bank statement, bank reference letter, etc.). Actual address confirmation document must be dated within last 3 (three) months from the document uploading date.
Depending on legal entity complexity, additional questions regarding verification may be requested by the Hawex AML department which documents shall be requested at the sole and absolute discretion of Hawex.
4.2. The Client shall be entitled to remotely enter into Transactions or submit Notices by using the authentication means issued by Hawex (hereinafter referred to as the authentication means) following the procedure set by Hawex.
4.3. In these Terms, according to the context, the authentication means shall denote any or all of the following: the Internetbank user ID and password, authorization tools, authorization codes, mobile device unique identifier, Current Account password, payment card password, and other data used for the Client authentication pursuant to these Terms.
4.4. Hawex shall make the authentication means available to the Client or the Client’s representative authorized to act on behalf of the Client according to the Client’s power of attorney submitted to Hawex, who shall be the User. If the same individual is both the User and the Client or the User is the authorized representative of the Client–legal entity, Hawex shall authenticate such User as the Client proper.
4.5. The Client and the User recognize that any Transaction or Notice confirmed by using the authentication means of the User shall be true and binding upon the Client, the User, and Hawex, as well as shall have equal legal force as a Transaction or Notice bearing manual signature.
4.6. If the authentication means issued to the Client or the User become known to a third party, the Client shall be responsible for all consequences until the moment of notifying Hawex of the same in accordance with the form and procedures set by Hawex.
5. Confidentiality
5.1. Hawex acknowledges that all information related to Client, the Transaction and Client’s relations with third persons, and supplied by Client to Hawex, is confidential and shall not be disclosed to third persons without Client’s consent, except the information that:
a. Is publicly available, or
b. Is disclosed to an assignee on the rights of claim assigned, or is disclosed to third parties with regard to entering into partnership agreements or other financing agreements, or
c. Is required for financial institutions involved in execution of the Transaction applied for by Client, at their request, or
d. Might be evidence of a criminal offence or the Client’s breach under Transactions, or is necessary for detecting and investigating such, or
e. Is disclosed to third parties that supervise and audit Hawex’s operations, or
f. is provided to competent authorities for performing their functions pursuant to legal enactments, or
g. Is provided to tax administration authorities pursuant to provisions of the cooperation agreements made between Hawex and the tax administration authorities;
h. Is provided to the Hawex’s outsource service providers, personal data operators and attorneys, or
i. Is provided to Hawex’s cooperation partners that provide services to Hawex or with whom Hawex otherwise cooperates for the sake of execution of the Client’s Orders, Hawex’s transactions or functions, or for complying with the requirements set forth in the applicable legal acts, or
j. Is provided to foreign supervisory institutions pursuant to the provisions of applicable legal acts, or
k. Is provided to foreign tax administration authorities pursuant to the provisions of applicable legal acts, or
l. Is provided to the court, court of arbitration, or for the sake of out-of-court dispute resolution pursuant to the provisions of applicable legal acts, or
m. Was provided at Hawex’s discretion with regard to the Client or the persons related to the same, following the request from a correspondent bank and involved in execution of the Client’s payment order, or
n. Is the Client information (name, surname, identity No., and other identification data of the Client) supplied to the beneficiary of the payment applied for by the Client, according to the requirements of the payment processing schemes. The Client consents that on the instances mentioned in subparagraphs c–m of this paragraph 5.1, Hawex shall be also entitled to transfer information outside the country, complying with the procedure set forth in the applicable normative acts.

5.2. Confidential information is Hawex’s secret and is not to be disclosed. Confidential information may only be disclosed in compliance with the applicable law and these Terms.

5.3. The Client shall agree to Hawex being entitled to record and keep all intercommunication without prior notification and to unilaterally choose technical means for recording the same. The Client shall agree to Hawex being entitled to use intercommunication records as evidence for protecting its interests in settling disputes and in court.
Hawex shall not be obliged to store intercommunication records for the benefit of the Client.
6. PROXY
6.1. The Client shall be entitled to authorize a third person, including another Client of Hawex, provided Hawex’s prior written consent is obtained, to perform a Transaction on behalf of the Client. Such authorization shall be executed in writing, with the Client making such authorization in accordance with Hawex’s requirements. Hawex shall be entitled to refuse to conclude a Transaction with Client in case such authorization is executed in default of Hawex’s requirements, or Hawex has reason to believe such authorization is not valid. Hawex shall verify execution of the authorization; however, Hawex shall not be responsible for other conditions of validity.

6.2. A power of attorney submitted to Hawex shall be considered valid in relations between Client and Hawex until the moment when Client submits a written revocation of such power of attorney to Hawex. The rights of representation or attorney of the Client’s representatives are revoked from when Hawex accepts such revocation submitted by the Client, or validity of such power of attorney expires. Hawex shall not be responsible for losses or other additional expenses of Client, where a power of attorney is revoked and Hawex has not been notified accordingly in writing. Where a Client’s representative acts on the basis of substitution of Client’s representative (assignment), powers of such Client’s representative shall be considered extended, if the powers of the primary attorney have been extended, or where a power of attorney of similar content has been issued to the primary attorney and the assignment has no stated term of validity.

6.3. Client is obliged to ensure in compliance with Hawex requirements that Hawex is in constant possession of documents certifying powers of the Client’s representatives to act on behalf of the Client and identifying the Client’s representatives. Unless Client supplies Hawex with such documents, Hawex shall be entitled to immediately refuse to perform the Transaction in whole or in part.

6.4. Where another Client of Hawex is authorized to perform the Transactions on behalf of the Client, the representatives of such attorney shall be entitled to act on behalf of the principal, according to the card of specimen signatures submitted to Hawex by the attorney.

6.5. In case the Client’s outstanding payment liabilities to Hawex arising out of the Transactions between the Client and Hawex become due, Hawex is authorized to perform any of the actions listed below, at Hawex’s discretion without incurring any liability of any kind towards the Client:
a. Debit the amount of funds required for discharging the Client’s liabilities to Hawex from any account of the Client with Hawex;
b. Perform currency exchange Transactions with regard to the funds on any account of the Client with Hawex.
7. Data of an Individual
7.1. If Client, the Client’s representative or Beneficiary are individuals, the Client, the Client’s representative and Beneficiary, establishing business relations with Hawex, agree that Hawex is entitled to process all personal data of Client, the Client’s representative and Beneficiary in accordance with provisions of the applicable law, including person’s identity data. The reason and purpose of processing of personal data is for use in the needs of rendering the Hawex’s services and ensuring of Hawex’s activities and performance of Hawex’s functions. Hawex shall be entitled to request, to receive and to process personal data of Client and the Client’s representative from other sources, including from private systems for personal data processing and those of government and municipal institutions.

7.2. In cases of disclosure of Client’s information stated in these Terms, the data of individuals available to Hawex may be disclosed to third parties that render services to Hawex or represent Hawex’s interests, entrusted by Hawex with fulfilment of liabilities stated in these Terms, or with whom Hawex otherwise cooperates in securing its activities and performing its functions. The Client, Client’s representative and Beneficiary shall agree to persons that are provided individuals’ data on instances of disclosing the Client’s information pursuant to these Terms being entitled to process all personal data of the Client, Client’s representative and Beneficiary, including sensitive data and person’s identity numbers.

7.3. An individual on written application to Hawex is entitled to review such individual’s processed personal data available to Hawex and the individual may amend or correct same according to normative acts applicable on protection of personal data of individuals.

7.4. If Client and the Client’s representative are individuals, Hawex is entitled to use available personal data of such Client and the Client’s representative, in order to supply Client orally, by post or by electronic means with information on Hawex’s products and services.
8. Notices and Information Exchange
8.1. Any information, orders, applications, instructions, notices, complaints and requests arising out of the business relations between the Parties may be submitted in person, sent in writing through a postal operator, subject to Hawex’s prior consent also in electronic form — by email, via the Internetbank.
A Notice sent by the Client to Hawex by e-mail pursuant to prior arrangement with Hawex shall be valid only provided the same contains the Client’s authorization code calculated according to requirements of Hawex or the Notice is signed with a secure electronic signature. Notices to Hawex may be delivered orally as well in cases explicitly stated in these Terms or on instances defined as mandatory in the applicable law. All Notices submitted to Hawex shall be completed without corrections, deletions, erasures or lapsus calami, and shall be clearly legible and complying with the requirements set herein. All Notices shall bear the Client’s own signature, be signed with a secure electronic signature or confirmed with the Client’s authentication means ensured by Hawex.

8.2. Notices to Hawex that are sent through a postal operator shall be sent to the registered address of respective legal entity, and those shall be deemed received by Hawex upon they are recorded in Hawex’s document registry. Notices by the Client sent by e-mail shall be deemed received by the Hawex after Hawex confirms their receipt. Notices to the Client shall be sent through a postal operator to the Client’s registered address (for legal entities) or residential address (for individuals), or to another contact address last communicated by the Client. Hawex shall not be responsible for losses or expenses incurred by the Client or a third party in case the Client has not notified Hawex of change of address for sending of Notices, or has provided inaccurate or incorrect address designated for sending the Notices, and consequently has not received the Notices from Hawex, or has not received them in due time. Hawex shall also be entitled to send Notices to the Client following some other procedures set by Hawex, including communicating them via the Internetbank or other electronic means and orally.

8.3. If a Notice is sent to the Client through a postal operator, the same shall be considered received on the third working day after service to the postal operator, regardless of its actual receipt. In case a Notice is sent to the Client by electronic means of communication, the same shall be considered received at the moment of being sent, regardless of its actual receipt. Hawex shall not be responsible for losses or other additional expenses of the Client, which the Client may sustain due to transmission failure, delay or misuse of information. The Client authorizes all its representatives, as well as other persons being at the address where the Notices are sent to, to receive such Notices. In case any such authorized representative receives a Notice, the Client shall be considered to have received such Notice. Hawex is entitled to record oral Notices. The Client acknowledges such recordings of Hawex to constitute written Notices received.

8.4. Hawex’s seal and the signature of Hawex’s employee on Notice submitted by Client constitutes acceptance of such Notice for processing but does not trigger Hawex liability for execution of Notice. Execution of the Transaction is only evidenced by the Transaction being booked to the Client’s account or by a confirmation of its execution processed by Hawex.

8.5. Notices in English language only shall be legally valid. The Client shall agree on the language for receiving Account statement or the Client’s Notice which shall be the language in which such communication shall be received. In case receipt of Account statement has not been applied for, Hawex shall be entitled to send Notices to the Client in the language of the Client’s Notice submitted to Hawex. Client is obliged to make a Notice clear and certain. Hawex is entitled to refuse to execute an unclear Notice at its own discretion in full or partially. In case figures in the Notice are stated both in words and in numbers simultaneously, figures stated in words are valid in case of discrepancies.

8.6. If Hawex considers there to be potential inadequacies in the Client’s Notice, including with respect to its authenticity or validity, or has doubts concerning the document content, Hawex is entitled to request that the Client should repeat the Notice according to the form specified or request that the Notice should be translated into the English language and legalized. Hawex is entitled to refuse execution of the Notice until a repeat Notice is received.

8.7. The Client’s order submitted to Hawex is valid for 6 business days of Hawex from the date of submission of such order to Hawex.

8.8. Hawex shall process Notices on working days (that is on all days except Saturdays, Sundays and holidays) during normal working hours. If the Hawex has accepted a Notice at any other time, the following working day shall be considered the date of acceptance of the Notice for execution.

8.9. Hawex shall be entitled to send on its own initiative any Notices to the Client about services provided by Hawex via texts (SMS) or e-mail to the Client’s mobile telephone numbers and e-mail addresses confirmed by the Client, also signing the Notices with a secure electronic signature.
9. The Client’s Obligation of Cooperation and the Compliance Requirements
9.1. The Client is obliged to immediately notify Hawex of changes in personal and registration data of the Client and its representatives, data of identity documents, address, other contact information, legal capacity and ability to act, important changes in its financial condition, as well as of amendments to or termination of powers of attorney submitted to Hawex, and of the Transaction Beneficiaries. Such obligation of notice shall apply even if changes in Client information submitted to Hawex are included in public registers.

9.2. Hawex shall provide the Client with all information on the Transactions booked to the account through access to an electronic account report in Internetbank. The Client shall be entitled to receive other types of account statements or reports by special request, paying the Charge stated in the Fees. In case of discrepancies between the information of the Client and Hawex about the state of the Client's account, account balance, transactions and other information related to payment transactions on the Client's account, the information of Hawex shall prevail.
It shall be the Client’s sole responsibility to monitor Transactions booked to the account and check whether they correspond to those actually performed. The Client shall agree that for the purposes of these Terms an account statement / report shall be deemed primary evidence of the Transactions performed by the Client, constituting sufficient grounds for ascertaining the respective fact. The Client shall agree that, unless stated otherwise herein, should the Client fail to immediately, within ten (10) calendar days from the date of receipt of the statement / report inform Hawex of deficiencies, the Client shall be considered to have confirmed that the account statement / report is correct and complete. Immediately replying to Hawex's request, the Client shall supply Hawex with all documentary evidence of, and information on Transactions booked to the account, those Transactions actually performed, and any Transactions not authorized by the Client.

9.3. If Client’s account has been credited with funds or financial instruments through Hawex’s error, Hawex shall be entitled to debit Client’s account with such funds or financial instruments without acceptance.

9.4. The Parties agree that Clients are not entitled to assign their claims against Hawex to third persons without Hawex’s written consent.

9.5. The Client shall be obliged to inform Hawex of any facts and events known to the Client that may be evidence of and/or lead to unfair gain for the Client and/or cause losses for Hawex.

9.6. The Client is obligated to immediately provide to Hawex all requested information, explanations and/or documents on:
I. The business activity of the Client or its business partners;
II. Transactions, which are executing using the Current account in Hawex;
III. The purposes of Hawex’s operations requested from Hawex or the origin of funds, which have been obtained as a result of Hawex’s operations;
IV. Compliance of Hawex’s operations in regards to the business activity of the Client or the Client’s business partners;
V. Client’s representatives and beneficiaries;
VI. Any other information necessary for Hawex to duly fulfill requirements regarding the prevention of money laundering and terrorism and proliferation financing, as well as sanctions violation.
It shall be the Client’s obligation to supply Hawex with requested information and documents.
The Client will be informed about the determination of the tax residence of the Client and its Beneficiary as well as the classification of the Client (active or passive nonfinancial organization, financial institution, international organization, or central bank) done by Hawex. The Client shall also be informed on the reporting on the Client’s accounts and Beneficiary to the relevant tax authorities, unless prohibited by law, performed by Hawex on instances set forth in external normative acts. The Client shall supply up-to-date and complete information about the tax residence of the Client and its Beneficiary and classification of the Client on the Client’s own initiative and following Hawex request.

9.7 The Client shall be liable for the losses that might be incurred by Hawex where the Client fails to timely provide up-to-date and complete information on the Client’s own initiative or following Hawex request, due to which the tax residence of the Client and Beneficiary and classification of the Client are not determined properly and incorrect or unnecessary information about the Client or its Beneficiary is supplied by Hawex to the respective authorities.
10.1. Client shall pay the relevant Charges to Hawex according to the procedures and to the amount stated in the Terms and Hawex’s respective Fees stated at the website hawex.com. Depending on the type of commercial activity and turnover of the Client other fees may be applied than those stated at the website hawex.com.
The Fees that are valid as of the time of rendering the service shall set the amount and procedures of payment of the Charges. Hawex shall be entitled to unilaterally amend the Fees. Such amendments shall enter into effect on the 31st day after adoption of same, unless the amendments or the applicable law states otherwise. Hawex shall inform the Client of amendments to the Fees by means of publication at the website hawex.com. Hawex shall additionally inform the Client individually of the amendments to the Fees on instances stipulated in the applicable law only. Hawex shall also be entitled to inform Client of amendments to the Fees individually by means of a respective notice via Internetbank. Should the Client fail to submit its objections to Hawex before the day on which amendments to the Fees become effective, the Client shall be deemed to agree to those amendments.
Should the Client disagree to the amendments, it shall be entitled to refuse being rendered a corresponding service by Hawex and to terminate its business relations with Hawex that are affected by the proposed amendments immediately, before the day on which amendments become effective at the latest, without penal sanctions applied. Should the relations be terminated, the Client shall submit all required documents to Hawex and take all required steps to discharge the obligations arising out of the legal relations between the Parties.

10.2. The general currency exchange rates and reference interest rates (the rates used by Hawex to calculate the interest applicable to the Transaction, which the Client can check using publicly available source) set by Hawex shall not be included in the Fees and shall be stated at the moment of rendering the respective service. Unless stated otherwise in the agreements between the Parties, the Client consents that the general currency exchange rates and reference interest rates set by Hawex may be changed any time without prior notification, also during working day, considering currency exchange rate and reference interest rate fluctuations in financial markets. Those amendments shall become effective upon the Client is notified about them, i.e., upon publishing the changes at the Hawex’s website hawex.com. The Client shall agree that the general currency exchange rate published by Hawex may differ from the currency exchange rate applied to a particular Transaction, and Hawex shall be entitled to inform the Client of the same only after execution of the Transaction by means of account statement / report. The Client is required to familiarize itself with the Fees, currency exchange rates and reference interest rates before applying for any service with Hawex. Hawex is entitled to unilaterally state and cancel discounts for Client. Hawex is entitled to state the Charges for services that are not included in the Fees at its own discretion. Such Charges are valid from the moment when the Client receives a respective Notice.

10.3. The Charges must be paid before execution of the service, unless Hawex has stated different procedures of payment of Charges. Unless Client has paid Charges to Hawex for Hawex’s service, Hawex is entitled to cease rendering such service to Client or refuse rendering the service without any notice. If Hawex terminates or refuses rendering the service to Client because of the reasons mentioned in the previous sentence, Hawex shall not be responsible for Client’s losses or other additional expenses of Client. Hawex shall be entitled to continue rendering the service at Hawex’s own discretion in case the Client has not paid the Charges for Hawex’s service, Hawex consequently acquiring the corresponding rights of claim towards the Client of the amount equal to the Charge.

10.4. If taxes, duties or similar payments are levied on Charges, Hawex shall be entitled to withhold such payments from the Client, with the Charge amount being increased accordingly.

10.5. Hawex is entitled to debit any account (Client’s Current Account is the first to be debited) of Client with amount of any claim due under the Transactions the Client applied for (including amounts of payments applied for by the Client, Charges, forex transactions, taxes, duties, etc.) that the Client has undertaken to perform and/or Hawex is entitled to under the Terms without acceptance by Client. Unless a sufficient balance in the payment currency is available in Client’s account at the moment when such payment is to be made, Hawex shall be entitled to debit the amount of its claim in a different currency at the general currency exchange rate stated by Hawex effective as of the moment of debiting the claim amount.

10.6. If Client defaults on its liabilities against Hawex in full or in part, or if Client’s insolvency proceedings, legal protection proceedings or Client’s liquidation process has been initiated, Hawex shall be entitled to use Client’s funds available at Hawex for decreasing the amount of the Client’s liabilities or discharging those completely.

10.7. Prior to the beginning of the Transaction, Client can see an updated currency exchange rate in its profile and, by accepting the Transaction, Client shall simultaneously agree with this currency exchange rate.
10. Charges. Payments to Hawex
11. Security of Hawex’s Claims against the Client
11.1. All Client’s funds (money, etc.) and/or the Client’s rights of claim on repayment of such funds against Hawex, that are or will be held in the Client’s accounts with Hawex, shall serve as financial collateral for the fulfilment of obligations of the Client and its closely related Clients (paragraph 11.3 of the Terms below) against Hawex and shall be pledged with Hawex as the Financial Pledge. Financial Pledge shall secure all obligations of Client and its closely related Clients (paragraph 11.3 of the Terms below) against Hawex, including future obligations. Hawex shall only be liable for losses caused to Financial Pledge by Hawex’s wrongful intent. Hawex shall be entitled to use Financial Pledge and its future parts thereof as security. Remuneration for such use shall be paid by Hawex, in case it is provided for in Fees.

11.2. Hawex shall be entitled to satisfy all Hawex’s claims against Client by enforcing the Financial Pledge even before due date of performance of obligations and without any prior Notice to Client on the following instances:
• the Client, a client closely related to the same, or another Client, in respect of obligations of which surety is provided for, defaults on its obligations to Hawex in full or in part, or
• the Client or the person acting as a surety in respect of the Client’s obligations has filed an application for initiating legal protection proceedings of the Client, or
• insolvency proceedings of the Client or the person acting as a surety for the performance of obligations of the Client have been initiated in accordance with the procedure specified in normative acts, or
• reorganization or liquidation process of the Client or the person acting as a surety for the performance of obligations of the Client have been initiated,
• restrictions are set on the rights and activities of the Client rendering financial, management and/or insurance services or the rights and activities of the person acting as a surety in respect of the Client’s obligations and rendering financial, management and/or insurance services, including complete or partial suspension of the rendering of financial services, appointment of the authorized person of supervisory authority, or license cancellation.
In cases where Financial Pledge constitutes funds, Hawex shall be entitled to debit (transfer) the amount due from any Client’s account with Hawex or from funds otherwise due to Client. Financial Pledge in possession of Hawex shall be considered to have been transferred to Hawex in connection with all Hawex’s claims against Client, Client’s debt to Hawex and subsequent debts of Client to Hawex are payable from such Financial Pledge, and Hawex is entitled to exercise a lien upon the Financial Pledge and to alienate or use it without any Notice or special reminder to Client. Hawex shall be entitled to exercise detainer rights on Financial Pledge. Hawex shall be entitled to use Financial Pledge replacing it with a pledge of equal value.

11.3. Client is jointly responsible for all liabilities to Hawex of other Clients who are closely related to Client, as the debtor proper. The Client is liable for the liabilities of Closely Related Clients, if such Clients were closely related at any moment during the period of time of the existence or continuation of such liabilities.

11.4. The provisions of this section concerning the security of Hawex’s claims against the Client shall not restrict Hawex’s right to exercise the power set forth in clause 6.5 of the Terms above.
12. Responsibility
12.1. The Party at fault for default of the term of any payment shall pay to the other Party a penalty of one tenth per cent of the outstanding amount per day of delay, however not more than ten per cent (10%) of the outstanding amount, unless stated otherwise in the normative acts, Fees or other section of the Terms with regard to the respective financial service. Payment of the penalty shall not release the Parties from the requirement of fulfilment of their liabilities not discharged in due time or unduly discharged timely.

12.2. Payment of the penalty shall include reimbursement for all the Client’s losses. Hawex shall be responsible for losses of the Client sustained in connection with the Transaction between the Parties, only if such losses are due to Hawex’s wrongful intent. In case of Hawex’s wrongful intent, Hawex shall only reimburse Client for direct losses sustained.

12.3. Hawex shall not be responsible for default of its liabilities in whole or in part, provided such default has arisen due to circumstances beyond Hawex’s control, including acts of terror, war, fires, explosions, civil unrest, strikes, acts of God, acts issued by government institutions, actions of third persons, break-downs, faults or errors of computers or other means of communication.

12.4. In no event shall Hawex be liable in any way for any indirect damages of any kind, including loss of profits, loss of business, loss of future earnings and any other kind of indirect damages.

12.5 Without prejudice to any other provision contained in these Terms, Hawex’s total liability for any one breach under these Terms shall in no event exceed the amount of Fees charged in one (1) calendar year.
13. Termination and Restriction of the Transaction
13.1. Unless stated otherwise in the agreement between the Parties or in these Terms, any agreement entered into by the Parties shall be deemed to be of indefinite duration.

13.2. Each Party hereto shall be entitled to unilaterally terminate all or individual contractual relations existing between the Parties hereto, servicing a Notice of termination of contractual relations stated therein to the other Party hereto at least thirty (30) calendar days before the date of termination of such contractual relations, unless stated otherwise or in special conditions and in other laws.

13.3. Hawex shall be entitled to unilaterally refuse, or abstain from, execution of a Transaction in full or in part, suspend or terminate any Transaction, change the term of executing the Transaction, set restrictions on any Transaction, inter alia, freezing or attach the funds and assets, limiting the availability of Hawex’s products or services to the Client, as well as restrict, suspend or terminate any contractual relations with the Client without serving a Notice to the Client and without reimbursing the Client for any losses or additional expenses in the following cases:
a. The Client has defaulted on the present Terms or the Client’s certification appears to be false;
b. A person who is not validly identified or authorized is suspected of acting on behalf of the Client;
c. Suspected involvement of the Client in money laundering, terrorism financing, or attempted money laundering or terrorism financing;
d. Fraud is suspected or the Client is suspected to allow a legally punishable, dishonest or unethical action, or if Hawex has reason to consider that further cooperation with the Client is to the detriment of Hawex’s honor, credit or reputation;
e. Suspicion of the death of a Client who is an individual or liquidation of a Client who is a legal entity;
f. The Client fails to supply Hawex with the requested information and documents in the cases specified in paragraph 9.6 of the Terms above, or Hawex suspects such supplied information or documents to be inconsistent with actual circumstances;
g. If during the agreement period Hawex finds out that the Client has provided Hawex with false information or, if Hawex suspects that the information which has been provided is false;
h. It is conditioned by the necessity to meet the requirements of the financial institutions or organizations involved in execution of the Transaction applied for by Hawex;
i. The Transaction is suspected to result in direct or indirect violation of sanctions set by the United Nations Organization or other international organization whose recommendations Hawex is obliged to follow;
j. The Transaction contradicts Hawex’s internal Client or risk management policies;
k. The Client cancels the use of the Internetbank;
l. Hawex considers the same to be necessary in order to secure Hawex's right to the Financial Pledge;
m. Hawex considers some default on the Client's obligations to have occurred or to possibly occur.

13.4. Hawex is entitled to close unilaterally without prior notice the Client’s account if the Client does not utilize its account for Transactions for more than six (6) months in succession.

13.5. Termination of the agreement entered into by the Parties shall not entail termination of their non-discharged obligations established before the agreement termination. All non-discharged obligations of the Parties established before terminating the agreement shall be discharged in accordance with the Terms and provisions of the agreements entered into.
In case of terminating the agreement:
a. In the case of Transaction entered into by the Parties, regardless the reasons for such termination, the Client shall be required to adhere to all obligations arising out of the agreement
b. In the case of Transaction being terminated, the relevant Charges shall become due, and the Client shall be obliged to pay Charges, cover incurred losses and discharge all obligations that arise out of the agreement
c. In the case of Transaction being terminated in full to Hawex, the Client shall remain liable to comply with the provisions of the agreement and these Terms, as well as to provide adequate collateral, if so requested by Hawex.
The Client shall be obliged to discharge the obligations assumed by the Client pursuant to the agreement, Transaction provisions and these Terms also after termination of the agreement or Transaction, until the Client’s obligations to Hawex are discharged in full, and shall also pay Hawex a penalty or overdue interest for delaying payments under the Client’s principal obligation in accordance with these Terms. Documents submitted by the Client for the sake of conclusion of an agreement or Transaction and performance of Hawex’s operations shall not be returned to the Client.

13.6. In the event of the death of the Client, Hawex shall be entitled to abstain from execution of the Notices of the Client’s representatives for the purpose of protection of the Client’s estate. Where the Client’s Beneficiary has died and the Client fails to provide the information and documents about the new Beneficiary or about an uncompleted inheritance process to Hawex, Hawex shall be entitled to abstain from execution of the Client’s Transactions. The heirs shall be obliged to submit a document certifying their respective rights to Hawex in order to dispose of the deceased Client’s estate, as well as shall provide instructions on further disposal of such estate.

13.7. The Client shall discharge all liabilities arising out of the contractual relations with Hawex on the day of terminating the contractual relations at the latest.

13.8. If the Client’s account with Hawex is closed following Hawex’s initiative or the Client fails to supply Hawex with instructions on transfer / outpayment of the account balance, the account balance shall be kept with Hawex, no interest shall be accrued on the same, and, in line with the Terms, the account balance shall be paid out upon the Client’s request pursuant to the respective application made in accordance with Hawex’s requirements. Hawex shall be entitled to withhold charge for keeping the account balance after the account closure in accordance with the Rates and Charges. Before paying the balance out, Hawex shall be entitled to perform identification of the Client following the procedure set forth in section 4 above.
14.1. Business relations between the Parties shall be subject to the legal acts applicable to the respective Hawex Operator, international banking practice and customary practices. Hawex shall apply special legal norms set forth in the normative acts on consumer rights protection to business relations with the Clients that are recognized as consumers under the normative acts on consumer rights protection applicable to the respective Hawex Operator.

14.2. Disputes between the Client and Hawex may be resolved by the Parties through mutual negotiations.

14.3. Any Client grievance or claim (hereinafter referred to as the “Claims”) against Hawex shall be resolved out-of-court on the following basis: a. the Client shall address its Claim to Hawex; b. Hawex shall register the Client’s Claim and consider the same within thirty days of submission of such Claim and all documents requested by Hawex in this connection. However, should preparation of a response require additional time, Hawex shall be entitled to extend the term of the Claim consideration, notifying the Client accordingly.

14.4. Any dispute, discord or Claim ensuing from business relations of the Parties hereto, or the default, termination, lawfulness, validity or translation thereof shall be resolved at the discretion of the claimant at the courts at the place of the respective Hawex Operator.

14.5. Should any clause of these Terms become void because of amendments to the normative acts, the other clauses of these Terms shall remain in full force and effect, and this being the case the Parties shall apply the Terms in accordance with the requirements of the effective normative acts.
14. Applicable Legal Enactments and Procedures of Disputes Resolution