General Terms and Conditions

1. About Us

1.1 We are Foren UK Ltd, a private limited company incorporated in England and Wales (registered number 12291057) whose registered office is at 77 Marsh Wall, London E14 9SH (“Foren”, “we”, “our”, “us”).

1.2 We are authorised and regulated by the Financial Conduct Authority (“FCA”) as an Electronic Money Institution (firm reference number 901074). We have permission to issue electronic money (“E-Money”) and provide payment services.

2. Foren Operations

2.1 We are required by regulation to inform you that; in order to access some of our products and services such as requesting a currency account, we may communicate details and information concerning you, your representatives and beneficial owners (in case of legal entities) to other entities in the Foren group or its banking partners, who provide these services.

2.2 We may communicate your information to the entity responsible for providing the corresponding product or service. These entities may be located in countries such as the UK, the European Economic Area, the United States of America, Canada, Nigeria, the EMEA and other jurisdictions where Foren has a presence. Accordingly, you will be subject to the relevant applicable regulations where the entity is domiciled. During the transfer, we shall implement appropriate technical and organisational measures to ensure the security of your personal data, including protection against a breach of security leading to accidental or unlawful destruction, loss, alteration, unauthorised disclosure or access.

2.3 You agree and accept that we may carry out such transfer and by continuing to use our services, you are deemed to have expressly instructed us to transfer such information without reservation as required by the relevant regulation.

3. Important Information

3.1 These General Terms and Conditions (the “General Terms”), along with the Privacy Policy, and any other terms that apply to all services that we make available to customers, including our website, mobile application and all other such products and Services and that we provide to you (“you”, “your”) constitute the entire agreement between you and us for the provision of the Services.

3.2 In addition to the General Terms, the Services we provide to you are also governed by:

3.2.1 any agreements you may enter into with a Third Party Supplier in relation to the Services that we provide to you (each being “Third Party Terms”). The provision of any such services through us is conditional upon your prior acceptance of the terms of the third party which will be disclosed to you prior to us providing any Services (as necessary) for your review and acceptance. These Third Party Terms will govern the basis on which the third party provides services to you and you should ensure that you read these carefully; and

3.2.2 all laws and regulations applicable to the Services,

which together form the entire Agreement between Foren and you (the “Agreement”).

3.3 These General Terms are important, and you should read them carefully. They govern your access to and use of our Services, including all of your obligations and responsibilities. We reserve the right not to provide any Services to you unless and until you have confirmed that you have read and accepted these General Terms.

3.4 By accessing and continuing to use our Services, you expressly agree that you have read, understood and accepted to be bound by the Generals Terms and any Third Party Terms in full.

3.5 You may request a copy of your Agreement at any time and without cost via email to help@Foren.co. These General Terms are also available at https://Foren.co.

3.6 Unless otherwise agreed between you and us, the language of all communications and the interpretation of this Agreement shall be English. Documents or communications in any other languages are for your reference and convenience and only versions in English language are official.

4. Definitions

4.1 The following definitions shall apply in these General Terms:

“Accepted Payment Methods” - means a payment by bank transfer, card payment or by any other payment method that is accepted by us;

“Application Form”- the application form provided by us, pursuant to which you apply for the provision of the Services. “Applicable Law” means any applicable: (a) statute, regulation, regulatory requirement, by law, ordinance, subordinate legislation or other law (regardless of its source) or mandatory guidance or code of practice (including in each case any judicial or administrative interpretation of it), in force from time to time in any applicable jurisdiction; (b) Card Network Rules; (c) judgment of a relevant court of law; or (d) sanction, directive, order or requirement of any relevant Regulatory Authority;

“Authorised User” means any individual authorised by you to operate the Services and have access to the Foren E-Money Account and/or Foren Platform on your behalf;

“Business Day” means a day other than a Saturday, Sunday or bank or public holiday in England on which banks are open for normal banking business in London, United Kingdom;

“Card” means virtual, one-time and standard physical debit cards issued by a Third Party Supplier to enable you to make payments, initiate transfer instructions and access funds in your Foren E-Money Account;

“Cardholder Agreement” means the terms and conditions between you and the Third Party Supplier of a Card in relation to their issuing of cards to you, which you enter into as part of the Services;

“Card Services” means the services we provide to have a Third Party Supplier issue a Card that you may use in conjunction with your Foren E-Money Account and to process your instructions made via that Card;

“charity” means a body meeting the relevant statutory definition for its jurisdiction of establishment and whose annual income is less than £1 million;

“consumer” means an individual who is acting for purposes other than a trade, business or profession;

“EEA” means the European Economic Area;

“Exchange Rate” means the Foren foreign currency spot exchange rate for buying or selling (as appropriate) the relevant currencies, as set by Foren and notified to you (and displayed on the Foren Platform);

“GMT” means Greenwich Mean Time;

“Fees” means the fees, charges, commissions, duties or other payments as described in these General Terms that are due from you to us;

“Foren E-money Account” means the electronic money account provided by us through which you can access the Services;

“Foren Platform” means an online platform, accessible via a website or application operated by us, where you may access and review your Foren Account(s), communicate with us, and submit instructions in relation to the Services;

“micro-enterprise” means any person engaged in an economic activity, irrespective of legal form, which at the time this Agreement is entered into (a) employs fewer than 10 persons; and (b) has a turnover or annual balance sheet that does not exceed €2 million;

“Payment Services” means arranging the execution of transactions on your Foren E-Money Account(s), and providing foreign currency exchange services, allowing you to convert e-money you hold in one currency into another available currency as part of making payments to other Foren E-Money Account(s) and/or third parties;

“Regulations” means the Payment Services Regulations 2017;

“Regulatory Authority” means a regulatory authority with jurisdiction over one or both of the parties in relation to the provision or receipt of the Services or performance of the parties’ obligations under this Agreement;

“Security Credentials” means the security measures used to access the Foren Platform for accessing the Services and the provision of instructions in relation to your Foren E-Money Account(s);

“Services” means arranging the provision of the Foren E-Money Account(s), the execution of instructions in relation to the Foren E-Money Account(s), the Card Services, the Payment Services and any other services that we may provide to you from time to time;

“Third Party Supplier” means a third party with whom we arrange to provide services to enable the provision of the Services to you;

“Transaction” means a transfer of funds to/from your Foren E-Money Account by means of instructions submitted via the Foren Platform;

5. Regulations

Unless otherwise stated in this Agreement, if you are not a consumer, a micro-enterprise or a charity, then to the extent that they may apply to the Services being provided, where permitted:

5.1.1 Part 6 and Regulations 66(1), 67(3), 67 (4), 75, 77, 79, 80, 83, 91, 92 and 94 of the Payment Services Regulations 2017 do not apply to the Agreement; and 5.1.2 Unless otherwise stated in this Agreement, a different time period will apply for the purposes of Regulation 74(1) Payment Services Regulations 2017.

5.2 If you are a consumer, micro-enterprise or charity none of the Payment Services Regulations 2017 are disapplied.

6. Commencement and Term

6.1 The Agreement shall commence on from the date that we notify you that your application to receive the Services has been accepted and shall be in effect for an indefinite period of time, meaning that it will not automatically terminate after a particular period of time until terminated in accordance with these General Terms.

7. Getting to Know You

7.1 In order to comply with legal and operational obligations relating to combating money laundering and terrorist financing, we must possess sufficient information about you and verify such information on an ongoing basis.

7.2 You agree to us conducting due diligence checks on you and on any Authorised Users, directors, shareholders, affiliates and ultimate beneficial owners as required during the Term of this Agreement. We may make, directly or through any third party, whatever steps we consider necessary to verify that information. We may keep records of the contents and results of any searches that we carry out on you in accordance with all current and Applicable Law.

7.3 You are responsible for providing and maintaining accurate information on the Foren Platform. Where we request information from you to complete our due diligence checks, you shall cooperate in good faith and promptly provide such information requested by us and agree to take all reasonable measures to notify us in timely manner as to any changes to the information you have previously supplied, in accordance with the terms of this Agreement. If you fail to do so, we are permitted to suspend the provision of the Services and inform any Third Party Supplier of this.

7.4 We may, upon request by any Third Party Supplier, financial institution, competent authority or any other party with a justified interest, disclose data that is necessary to identify and contact you for the purposes of our and/or their compliance with Applicable Law.

7.5 Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found in our privacy policy.

8. Our Responsibilities

8.1 We undertake to provide an electronic platform (the “Foren Platform”) through which we can, with reasonable care and skill:

8.1.1 arrange the opening of a Foren E-Money Account in your name with us;

8.1.2 provide functionality to allow you to operate your Foren E-Money Account, including instructing Transactions in respect of it;

8.1.3 subject to your request, arrange the opening of additional Foren E-Money Account(s) in your name, in currencies other than that attached to your country of residence or incorporation;

8.1.4 arrange the provision of foreign exchange services to allow outgoing payments from your Foren E-Money Account to be converted to one of the available currencies of your choosing; and

8.1.5 subject to your request, arrange the issue of a Card (or in the case of a legal entity, one or more Cards) in your name with a relevant Third Party Supplier in the local currency attached to your country of residence or incorporation, connected to your Foren E-Money Account to allow you to carry out Transactions that are initiated by use of the Card.

9. Your Warranties

9.1 You hereby represent and warrant that:

9.1.1 you are using the Services for your personal benefit and are not accessing them for or on behalf of another person;

9.1.2 you are resident in or have a permanent establishment and/or business registration in the country stated as your address during the application process;

9.1.3 you have, and shall continue to have, the full right, power and authority to enter into and carry out your obligations under this Agreement, and the provision of the Services will not result in a breach of any Agreement to which you are bound;

9.1.4 you shall perform your obligations under this Agreement with all due care and skill and in accordance with all Applicable Law and regulation and shall take such steps as may be required to ensure that in discharging or performing your obligations pursuant to this Agreement in compliance with Applicable Law;

9.1.5 you shall ensure that:

• (a) any instructions to us are made on the basis of your business and/or personal requirements and not for any speculative or investment purpose;

• (b) the person signing this Agreement is your duly authorised representative and that he/she has your authority to bind you to this Agreement; and

• (c) you have all requisite authorisations, licences, approvals and consents which have been imposed by any competent regulator or organisation in relation to its business relative to the Services.

• (d) you will pay all relevant taxes as required by Applicable Law relating to your use of the Services;

• (e) you will not use the Services for any fraudulent or illegal purposes and have appropriate systems and controls in place to prevent your use of the Services being used for the purposes of money laundering;

• (f) you will not use the Services for speculative or investment purposes;

• (g) you will comply with all requirements and rules of our Third Party Suppliers rules as in force from time to time and to the extent any requirements or rules require a change in the localisation of you or contracting entities, you undertake to comply with such requirements and will execute all such documents as required by us in order to ensure compliance with such requirements and rules or any Applicable Law. Such document(s) may include but are not limited to, the execution by you of a novation agreement replacing your legal entity with another entity, after a reasonable request provided by us; and

• (h) you shall, upon our request, provide evidence of compliance with the warranty and representations under this Clause. 9.2 We hereby warrant and represent to you that:

  9.2.1 we have, and shall continue to have, the full right, power and authority to enter into this Agreement and carry out our obligations under this Agreement and the execution of this Agreement will not result in a breach of any Agreement to which any member of our corporate group is bound;

  9.2.2 we shall perform our obligations under this Agreement in accordance with all Applicable Law;

  9.2.3 the person signing this Agreement is our duly authorised representative and that he/she has our authority to bind us to this Agreement; and

  9.2.4 we have all authorisations, licences, approvals and consents which have been imposed by any competent regulator or organisation in relation to its business relative to the Services.

  9.3 Except as expressly stated in this Agreement, we hereby exclude all other conditions, warranties and representations whatsoever whether expressed or implied statutory or otherwise which relate in any way directly or indirectly to the performance of our obligations under this Agreement.

10. Your Responsibilities

10.1 You undertake to:

10.1.1 adhere to and comply with the provisions of these General Terms;

10.1.2 adhere to and comply with any relevant Third Party Terms, as may be from time to time notified by us to you;

10.1.3 refrain from any conduct which is capable of damaging the reputation or goodwill of us or any Third Party Suppliers;

10.1.4 respond promptly to all requests for information under these General Terms and any Third Party Terms.

10.2 You are responsible for maintaining your own records related to the Services with the Foren Platform and other accounting records.

10.3 Upon the termination of the General Terms for whatever reason, we will have no obligation to retain, store or make available to you any data, records or other information in connection with any of the Services, beyond what is required by us under Applicable Law.

11. Security Credentials

11.1 Upon completion of the successful onboarding, we shall issue you with Security Credentials to access the Foren Platform. You will provide these Security Credentials when accessing the Foren Platform to authenticate yourself and to confirm your instructions in respect of the Services.

11.2 You are solely responsible for, and will establish and maintain appropriate security, technical and operational measures to ensure that there is no unauthorised use of the Security Credentials or of any other confidential information employed in the provision of the Services. 11.3 If you suspect that there may be, have been, or are aware that there has been unauthorised use of the Security Credentials or of any other confidential material or information used in the provision or use of the Services, you shall notify us via email to help@Foren.co without undue delay. We will use all reasonable endeavours to prevent unauthorised use of the Services upon receiving such notification.

11.4 You are solely responsible for establishing and applying adequate security systems and procedures:

11.4.1 to comply with the provisions of this Clause;

11.4.2 for monitoring all use of or access to the Services and Foren Platform to ensure that any Authorised User is using or accessing the within the limits of their authority and that no instructions have been submitted which would indicate that unauthorised persons are in possession of Security Credentials; and

11.4.3 in relation to data and information after it has been accessed via, printed or downloaded from the Foren Platform.

11.5 We shall not be liable for the fraudulent use by a third party of your actual or electronic signature, whether authentic, forged or in the case of abuse by an unauthorised person. Where we do not identify the abusive or fraudulent use of the authentic or forged signature, we shall, except in cases of gross negligence or violations of applicable laws and regulations, be released from its liability towards you. You must therefore keep your Security Credentials confidential and take all measures necessary to prevent unauthorised third parties accessing the Foren Platform.

11.6 We are not responsible for losses you suffer resulting from any unauthorised activity in connection with the Services or Foren Platform (including use of Security Credentials). You acknowledge and agree that we have a right to suspend the provision of the Services without limitation and/or take such other steps as we consider necessary if you have acted fraudulently, and either intentionally or negligently, failed to comply with the provisions of these General Terms (including failing to protect your Security Credentials under this Clause, or failing to notify us of unauthorised Transactions).

11.7 You shall inform us immediately via email to help@Foren.co of revocation of any Authorised User’s authority. You shall be liable for all actions of an Authorised User that are carried out within their authority until you notify us that they may no longer act on your behalf.

11.8 We may share any notifications under this Clause with our Third Party Suppliers where we, in our reasonable opinion, consider that the services you receive from them may be compromised.

12. Opening a Foren E-Money Account

12.1 Upon commencement of these General Terms, we will arrange for a Foren E-Money Account to be opened in your name with us in the currency local to your country of residence/incorporation at the date of commencement. We will communicate the details of your Foren E-Money Account to you upon it being opened.

12.2 We shall act as issuer of the E-Money for that Foren E-Money Account and shall be the provider of the Foren E-Money Account. We shall be the entity which provides the functionality of it to you.

12.3 You may have only one Foren E-Money Account in each available currency as part of the Services.

13. Payment Transactions From Your Foren E-Money Account

Submitting instructions

13.1 You, or any Authorised User, may submit instructions in relation to your Foren E-Money Account via the Foren Platform in accordance with these General Terms. As part of these, you may request that Transactions be executed. The Foren Platform shall specify the information required to complete a Transaction.

13.2 Any communications or instructions relating to Transactions or Services must be made via the Foren Platform in order to be valid. Unless as otherwise agreed between you and us, we are not obliged to accept or effect any instructions communicated by other means. Should we permit you to use an alternative method of communication by exception, this will be subject to the provisions of these General Terms.

13.3 Where you are a business or legal entity, you may authorise a number of persons such as officers, employees or agents to have access to your Foren E-Money Account as an Authorised User. In order to be an Authorised User, these person(s) are subject to the identity verification and due diligence procedures outlined at Clause 6 above. 13.4 You agree to inform us immediately in writing of any changes to any personal or identification information and/or that of any Authorised Users who give instructions on your behalf, and to provide any documentation relevant to these changes.

13.5 We may, in the event of such a change or in our absolute discretion, request additional information and/or documents from you as required to comply with anti-money laundering and counter terrorist financing obligations.

13.6 You agree to provide, without undue delay, all necessary documents and/or information that we may reasonably require. We reserve the right to decline to effect any instructions until our requests are resolved.

13.7 You accept that you will be solely liable for any damages caused by the transmission of false, inaccurate, misleading, outdated or incomplete data. Where it is necessary to translate, or verify the authenticity, accuracy, validity, and/or completeness of documents received in relation to our requests for additional information, you agree that we shall only be liable for gross negligence where we did not adequately fulfil these obligations.

Receipt of instructions

13.8 We shall be deemed to have received submitted instructions in accordance with the following principles:

13.8.1 if you and we mutually agree that execution of the Transaction is to take place:

• (a) on a specific day;

• (b) on the last day of a certain period; or

• (c) on the day on which you have put funds at our disposal, the time of receipt is deemed to be the day so agreed, unless it is not a Business Day in which case it will be deemed to be received on the next applicable Business Day.

  13.8.2 In all other cases:

• (a) if an instruction is submitted before 1300 GMT on a Business Day, it will be deemed to be received on that Business Day;

• (b) if an instruction is submitted after 1300 GMT on a Business Day, it will be deemed to be received on the next applicable Business Day; or

• (c) if an instruction is submitted on day that is not a Business Day, it will be deemed to be received on the next applicable Business Day; Revocation or cancellation of instructions

  13.9 You accept and agree that, because we commence processing instructions upon receipt, we are unable in most circumstances to cancel or amend an instruction that you give us. Where we do offer a service of attempting to do so, we may levy a charge for this, irrespective of whether it is successful or not. In all cases, if we are able to stop the payment instruction, we shall notify you of this in writing.

  13.10 Where we agree that the execution of a Transaction is to take place:

  13.10.1 on a specific day;

  13.10.2 at on the last day of a certain period; or

  13.10.3 on the day on which you place funds at the disposal of us,

you may cancel the payment instruction before 1300 GMT on the Business Day preceding the agreed date.

13.11 We may agree with you, in writing, to alter the date on which Transactions will be executed. Such mutual written consent will be deemed to be your consent to the revised Transaction(s).

Declining instructions

13.12 We can decline to act on any instruction you give us, if:

13.12.1 we have not been provided with all the requested information in respect of that Transaction;

13.12.2 there are insufficient funds in place to complete the Transaction;

13.12.3 we consider, in our absolute discretion, that you did not give us the instruction;

13.12.4 the instruction is unclear, incomplete or not in the required form;

13.12.5 we consider, in our absolute discretion, that executing the instruction may contravene Applicable Law;

13.12.6 we reasonably suspect that fraud or other criminality is taking place, or that executing the transaction would be contrary to our obligations in respect anti-money laundering or terrorist financing, or compliance with sanctions laws; or

13.12.7 we reasonably believe that carrying out the instruction may damage our reputation or that of a Third Party Supplier.

13.13 If we refuse to act on your instructions, we will notify you in writing, via e-mail or any other form of communication agreed between you and us, if permitted by Applicable Law. 13.14 Where permitted by Applicable Law or other circumstances beyond our control, you may obtain information about our refusal and, where appropriate, our reasons for refusing to act on your instructions, along with information on how to correct any errors that led to the refusal, by contacting us in writing or via e-mail.

Executing Instructions

13.15 Where we receive and accept your instruction relating to a Transaction from your Foren E-Money Account, this will be executed in accordance with the following timescales:

13.15.1 to another Foren E-Money Account: immediately upon receipt of the instructions;

13.15.2 transfer where the payee’s account is in the EEA and the transaction is in euro: the payment will be credited to the payee’s payment service provider’s account by the end of the Business Day following the time of receipt of the instruction;

13.15.3 transfer where the payee’s account is in the UK and the transaction is in sterling: the payment will be credited to the payee’s payment service provider’s account by the end of the Business Day following the time of receipt of the instruction;

13.15.4 transfer where the payee’s account is in the EEA or UK and the transaction involves only one currency conversion between the euro and sterling: the payment will be credited to the payee’s payment service provider’s account by the end of the Business Day following the time of receipt of the instruction, provided that:

• (a) the currency conversion is carried out in the UK; and

• (b) if the payee’s account is an EEA Member State, the transfer takes place in euro 13.15.5 any other circumstances where the transaction in carried out wholly in the UK: the payment will be credited to the payee’s payment service provider’s account by the end of the fourth Business Day following the conversion of the currency; and

  13.15.6 transfer where the payee’s account is in a country outside either the EEA or UK and the transaction involves currency conversions other than between the euro and sterling: different instruction and payment times may apply. The payment will be credited to the payee’s payment service provider’s account as soon as reasonably practicable following the time of receipt of the instruction. We will provide you with further information on request.

  13.16 For all other circumstances different instruction and execution times may apply. We will provide you with further information upon request/via the Foren Platform.

  13.17 When arranging the execution of a payment from your Foren E-Money Account we will select the method by which it shall be executed based on the characteristics of the payment (including its value and the location of the intended recipient). A list of the payment systems we utilise is detailed on the Foren Platform.

  13.18 If we have followed your instructions correctly, we may deduct the amount of any payment from your Foren E-Money Account immediately on executing the payment. We may rely on any information quoted in an instruction as correct.

General

13.19 Some laws, regulations or international payment systems require the person placing the order and the beneficiary to be identified. You agree and acknowledge that where an instruction relates to the transfer of funds we may have to disclose your personal data on the transfer documents.

13.20 We reserve the right to impose, at our sole and absolute discretion, certain transaction limits. If an instruction would breach a transaction limit, we are entitled to reject that instruction and deem it invalid.

13.21 You have a right to request an increase of the limits in writing or via e-mail. We, in our absolute discretion, may decide to increase or not to increase the transaction limits based on your request. We are not obliged to give you any reasoning for our decision. 13.22 When making an instruction to transfer a payment to a third party, you shall indicate in transfer instructions the beneficiary’s payment service provider, including the Bank Identifier Code (BIC), the International Bank Account Number (IBAN) or local account number, as well as the name, address of the person/entity deemed to be making the payment and the account number of the Foren E-Money Account from which the payment will be made, together with the value to the transaction to be made, the date on which it is to be executed and the currency in which it is to be executed. If the aforementioned information is not provided by you, we shall not bear any liability for any damage resulting therefrom and may decide not to proceed with the instruction.

14. Payment Transactions From Your Foren E-Money Account in Different Currencies

14.1 Where you submit an instruction to transfer funds either:

14.1.1 between Foren E-Money Accounts held in different currencies; or

14.1.2 to make a payment in a currency other than a currency other than the Foren E-Money Account(s) you hold.

we will execute this as follows:

14.1.3 firstly, as an instruction for a payment to be made to us for the purposes of a foreign exchange transaction, which we will convert the original amount of funds for the intended payment value into the equivalent amount in the desired currency; and

14.1.4 secondly, as an instruction to transfer the proceeds of the first transaction to the specific account.

14.2 Where the instruction is accepted, we will carry out a currency conversion as part of this foreign exchange transaction. It will be made using the Exchange Rate applicable at the point that this transfer is executed. The Exchange Rate(s) applicable at any specific point in time can be viewed on the Foren Platform. The exchange rate applicable to your specific transaction will be the Exchange Rate applicable at the point at which we are deemed to receive your instruction. The current applicable exchange rate shall be displayed to you on the Foren Platform prior to you submitting an instruction that will involve a currency conversion.

14.3 You acknowledge and agree that if there is a delay between you submitting an instruction and us receiving it, the applicable Exchange Rate may change. The exact rate at which your exchange was executed will be available to you on the Foren Platform following the execution of each transaction. The exchange rate applicable to your specific exchange can be found by instituting a transaction. Notwithstanding that an exchange rate is agreed at the time we accept your instructions we cannot guarantee the same rate of exchange will apply to any other instructions.

15. Payment Transactions to Your Foren E-Money Account

15.1 Payment Transactions to your Foren E-Money Account must be submitted in accordance with this Clause 14.

15.2 Where a Transaction is made otherwise than in accordance with this Clause, we reserve the right not to accept funds and may return them to the originating account, subject to any Applicable Law. We reserve the right to charge you a fee for this.

15.3 Where we decline to accept any Transaction, we will inform you as soon as reasonably practicable via email or telephone, where permitted by Applicable Law. You accept there may be circumstances where we are unable to notify you, and in those cases no such notification shall be provided.

15.4 Transactions into your Foren E-Money Account may only be made via an Accepted Payment Method.

15.5 Any funds credited to your Foren E-Money Account under this Clause shall be value dated no later than the business day on which the amount of the Transaction is credited to our account.

15.6 All relevant funds received by us for your E-Money Account will be safeguarded in accounts with authorised credit institutions in accordance with Applicable Law immediately upon receipt. Any fees payable will be deducted separately in accordance with this Agreement.

15.7 Safeguarded funds are held for the benefit of customers and are not the property of Foren. In the event of our insolvency, these safeguarded funds are protected in accordance with Applicable Law 15.8 You acknowledge and agree that funds that may be received into your Foren E-Money Account may be subject to taxes, duties, restrictions and other measures applied by the competent authorities of the relevant country from which a payment originates or is transferred via; we bear no responsibility, nor make any commitment towards you in relation to such measures or any other measures beyond our control.

15.9 You accept that we are subject to supervision by foreign authorities and foreign jurisdictions in connection with the Services, and that funds held by us for your benefit can be subject to investigations and measures, including information bans, freezing orders, seizures or sequestrations in foreign jurisdictions. You acknowledge and accept all consequences of such compulsory measures and that these may have the effect of there being a delay to funds being credited to your account and/or being blocked or debited from the Foren E-Money Account.

16. Fees and Charges

16.1 You agree to pay all interest, fees, commissions, duties, charges and other amounts that may be due, as well as any and all charges incurred by us on your behalf as a result of providing the Services. These are set out in the Schedule of Fees and Charges which is available on the Foren Platform.

16.2 All applicable fees, charges and other payments from you to us are due immediately and payable upon provision of the relevant Service, even if we have not expressly requested their payment. You agree and acknowledge that we have the right to execute, at any time, transactions on your behalf that are necessary to settle the debit balance.

16.3 Unless otherwise agreed between you and us, all fees, charges and other payments are exclusive of VAT and any other taxes due under Applicable Law. You agree that you are solely responsible for paying any and all applicable taxes.

16.4 Fees, debts, and charges remain due even if their payment is requested only after the closure of the account.

16.5 We reserve the right to amend and/or introduce new fees or charges, in accordance with the terms of this Agreement.

17. Cards

17.1 You may request that a Card (or in the case of business customers, multiple Cards) be issued in respect of your Foren E-Money Account. You may do this by logging into the Foren Platform and requesting a Card via the Card menu option.

17.2 We will consider your application in conjunction with our Third Party Suppliers. We may, in our absolute discretion, elect not to provide you with the Card Services. We are under no obligation to provide any explanation as to why we have elected not to provide you with a Card.

17.3 Where your application is approved, the Card shall be issued by a Third Party Supplier, and by requesting for a Card to be issued, you acknowledge and agree that you shall enter into and comply with the relevant Cardholder Agreement. This Cardholder Agreement is an Agreement between you and a Third Party Supplier who acts as the issuer of the Cards and governs your use of the Card.

17.4 Where a Card is issued to you by the Third Party Supplier under the Cardholder Agreement, this Card can be used to initiate payments from your Foren E-Money Account to settle your liabilities arising from Transactions with third parties.

17.5 The use of the Card will constitute you submitting an instruction for a transfer to be made from your Foren E-Money Account to the entity to whom you have presented the Card. This transaction shall be executed in accordance with these General Terms and settled in accordance with the terms of the Cardholder Agreement.

17.6 Where a Card is issued to you, you agree and acknowledge that the Card is the issuing Third Party Supplier’s property and shall be subject to cancellation at any time by the Third Party Supplier, at their discretion. We accept no responsibility or liability for their decision to cancel a Card.

17.7 Where you are informed that your Card has been cancelled, or upon termination of the Cardholder Agreement, you shall, at your expense:

17.7.1 immediately return such cancelled Cards in your possession to us;

17.7.2 notify any agent of yours currently in possession of a Card to return all such cancelled Cards in their possession to us; and/or

17.7.3 destroy any remaining unused Cards.

18. System Errors and Technical Malfunctions

18.1 We shall not be liable for any errors, omissions, or delays resulting from technical or system-related malfunctions, including but not limited to system outages, processing errors, or software bugs affecting our Services or those of any Third Party Supplier.

18.2 Where any Transaction has been incorrectly executed, duplicated, or otherwise affected due to such technical or system error, we reserve the right upon identification of such error to reverse the Transaction(s) and restore your Foren E-Money Account to the state it would have been in had the error not occurred. You acknowledge and agree that this may include reversing credit or debit entries, restricting access to affected funds, or other corrective action necessary to return the account to status quo.

19. Errors and Unauthorised Transactions

19.1 We are responsible for executing Transactions to and from your Foren E-Money Account.

19.2 Where we do not execute a Transaction correctly, (meaning we fail to execute it, execute it late, or do so in a defective manner, according to the instructions you provided to us), we will refund to the payer the amount of the Transaction and, as appropriate, restore the debited account to the state in which it would have been had that Transaction not taken place.

19.3 At your request, we will make immediate efforts to trace an incorrectly executed Transaction and will notify you of the outcome via email.

19.4 Where a Transaction from your Foren E-Money Account is unauthorised, i.e. that you did not give your consent for it, we will, subject to the terms of this Clause, refund the payment amount immediately and, where applicable, restore your Foren E-Money Account to the position it would have been in had the unauthorised Transaction not taken place.

19.5 In the event of an incorrectly executed or unauthorised Transaction from your account, you will be entitled to a refund only if you notify us in writing via email to help@Foren.co without undue delay, as follows:

19.5.1 If you are a consumer, micro-enterprise or charity: no later than thirteen 13 months after the payment was made, unless we have failed to provide you with information about the payment.

19.5.2 In all other cases – no later than two 2months after the payment was made, unless we have failed to provide you with information about the payment.

19.6 Where you have authorised a Transaction initiated by or through, you may receive a refund of that Transaction where:

19.6.1 your authorisation to debit your Foren E-Money Account did not specify the exact payment amount;

19.6.2 the amount debited exceeded the amount you had reasonably expected would be taken; and

19.6.3 your request for a refund is made within eight weeks from the date the payment is debited from your account.

19.7 You must provide us with such information as is reasonably necessary to check whether the above conditions have been satisfied.

19.8 Subject to the below, where unauthorised Transactions from your account arise from the use of a lost or stolen payment instrument (meaning your Security Credentials), you may only be liable for up to £35 for losses incurred in respect of those unauthorised Transactions.

19.9 You will be liable for all losses in respect of the unauthorised Transactions prior to you notifying us of the unauthorised Transactions if you:

19.9.1 have acted fraudulently; or

19.9.2 have deliberately, or with extreme carelessness, failed to keep your security information safe or

19.9.3 have deliberately, or with extreme carelessness, failed to notify us without undue delay of the loss/theft of your security information upon becoming aware of such a matter.

19.10 You can notify us of

19.10.1 unauthorised Transactions;

19.10.2 incorrectly executed Transactions; and/or

19.10.3 the loss/theft of your Security Credentials

via the Foren Platform or by contacting us via email at help@Foren.co.

19.11 Except where you have acted fraudulently, we will refund the full value of any unauthorised Transaction on your account:

19.11.1 arising after you notify us of the loss/theft of your security information; or

19.11.2 where we have failed to provide an appropriate method for you to give us that notice; or

19.11.3 relating to a distance contract. 19.12 If you fail to submit a complaint within the relevant timeframe, we have no obligation to accept a complaint that is made after this point, unless the error(s) is caused by our gross negligence or wilful misconduct. This provision does not affect any rights you may have under agreements with Third Party Suppliers.

19.13 You acknowledge and agree that funds may be subject to taxes, duties, restrictions and other measures applied by the authorities of the country from which a payment originates or is transferred; we bear no responsibility, nor make any commitment towards you in relation to such measures or any other measures beyond our control.

19.14 You acknowledge that we are subject to supervision by foreign authorities and foreign jurisdictions in connection with the Services and that funds held by us or a Third Party Supplier for your benefit can be subject to investigations and measures, including information bans, freezing orders, seizures or sequestrations in foreign countries. You accept all consequences of such compulsory measures and that these may have the effect of there being a delay to funds being credited to your account and/or being blocked or even debited from your Foren E-Money Account.

This does not affect our obligation to safeguard funds in accordance with Applicable Law.

20. Statements

20.1 We will provide a statement to you once per calendar month, or alternatively at a frequency agreed between us, showing all amounts credited to or taken from your Foren E-Money Account since the previous statement. You may request a copy of your statement at any time via the Foren Platform, but this may be subject to a charge.

21. Set Off

21.1 We are hereby authorised, from time to time, both without notice and before and after demand, to withhold and retain from you in whole or in part any of your liabilities to us under the Agreement or any other agreement, against any payment due to you or against any sums held by us or owed to you under these General Terms.

21.2 Any credit balance held as part of the Services will not be repayable, or capable of being disposed of, charged or dealt with until such liabilities from you to us and/or any Third Party Supplier have been met.

21.3 You are not entitled to any form of set-off in respect of any of our liabilities under the Agreement or any other agreement against any amounts due to us from you.

21.4 Any exercise of our rights under this Clause shall be without prejudice and in addition to any other rights or remedies available to us under the General Terms or otherwise.

21.5 Nothing in this clause shall permit the use of safeguarded funds in a manner inconsistent with Applicable Law.

22. Security

22.1 We may withhold, delay, freeze or place such restrictions as we consider appropriate on any or all funds representing proceeds of payments relating to your Foren E-Money Account and/or withhold any payments due to you under these General Terms, if, in our judgement you are, or may be (whether intentionally or otherwise) engaged in fraudulent or suspicious activity, and/or there is a risk that you will unwilling or unable to meet your contractual obligations under these General Terms.

Any such restriction shall not affect the safeguarding of relevant funds, which will continue to be held in accordance with Applicable Law. The funds, excluding deducted fees, will continue to be safeguarded until returned to the source or otherwise dealt with in accordance with applicable legal and regulatory requirements.

22.2 In addition to this Clause 20, we shall be entitled to take any further action we reasonably consider necessary for security reasons in order to combat the risk of fraudulent or suspicious activity, including but not limited to:

22.2.1 suspending or terminating the provision of Services to you;

22.2.2 refusing or rejecting instructions you provide in relation to the Services;

22.2.3 suspending or stopping payments to you; and

22.2.4 introducing additional authorisation procedures.

22.3 Provided we are permitted to do so under Applicable Law, we will give you notice of any suspension or restriction and the reasons for taking such action. If not permitted, we may notify you in writing of any action taken as soon as practicable after it has been taken, subject to Applicable Law. Any suspension or restriction will be lifted as soon as reasonably practicable after the reasons for the action have ceased to exist.

23. Safeguarding of Client Funds

23.1 Your funds are safeguarded in accordance with Applicable Law..

23.2 Where we receive funds from you, or from a third party on your behalf, in connection with your Foren account or services, such funds will be treated as relevant funds and safeguarded without undue delay in accordance with applicable regulatory requirements.

23.3 Safeguarding is achieved by holding relevant funds separately from our own funds in designated safeguarding or segregated accounts with authorised credit institutions or other permitted institutions, in accordance with Applicable Law.

23.4 Relevant funds may be held together with funds belonging to other customers in pooled or omnibus safeguarding accounts, where permitted under Applicable Law.

23.5 Safeguarded funds are held for the benefit of our customers and are not the property of Foren.

23.6 In the event of insolvency of the relevant Foren entity, safeguarded funds will be protected and returned to customers in accordance with the applicable safeguarding regime and Applicable Law in the jurisdiction in which the relevant services are provided.

23.7 Foren operates through licensed and regulated entities in multiple jurisdictions. Where you request or access services, accounts, wallets, payment products, or other services provided by a different Foren group entity, you acknowledge and agree that:

23.7.1 You may be onboarded as a customer of the relevant Foren group entity in order for services to be lawfully provided in that jurisdiction.

23.7.2 Your KYC, identification, onboarding, compliance, and other relevant customer information may be shared between Foren group entities for regulatory, compliance, fraud prevention, onboarding, operational, and risk management purposes, in accordance with applicable data protection laws.

23.7.3 The relevant Foren group entity providing the services will be responsible for safeguarding your funds in accordance with the laws and regulatory requirements applicable in that jurisdiction.

23.7.4 Your funds may therefore be safeguarded under a legal and regulatory framework different from that applicable in the jurisdiction where you were originally onboarded.

23.7.5 Where services are provided by another Foren group entity, that entity may become the regulated provider of those services and responsible for the applicable customer relationship, regulatory obligations, and safeguarding requirements relating to those services.

23.8 Our obligation to safeguard relevant funds applies to the full amount received and is not affected by any fees, charges or other amounts payable by you, which will be deducted separately in accordance with this Agreement.

23.9 Where funds are subject to any restriction, suspension, or investigation, including for security or regulatory reasons, they will continue to be safeguarded in accordance with Applicable Law.

23.10 Safeguarding accounts may be held with credit institutions located in the United Kingdom or in other jurisdictions.

23.11 Where safeguarding accounts are maintained outside the jurisdiction in which you were onboarded, the legal and regulatory framework applicable to those institutions and safeguarding arrangements may differ. Foren will ensure that any existing safeguarding arrangements are implemented in accordance with Applicable Law and applicable regulatory requirements in the relevant jurisdiction, including obtaining any required acknowledgements, confirmations, or protections where applicable.

24. Termination

24.1 You may terminate this Agreement at any time by giving us notice via the Foren Platform, our website communication channels or email.

24.2 (a) If you are a consumer, a micro-enterprise or a charity, we may terminate the Agreement at any time by giving you at least two months’ prior written notice for accounts opened before 28th April 2026 or 90 days prior written notice for accounts opened after 28th April 2026.

• (b) If you are not a consumer, a micro-enterprise or a charity, we may terminate the Agreement at any time by giving you at least one month’s prior written notice. 24.3 Without prejudice to the above or any other termination rights we have under the Agreement, we may terminate the Agreement immediately without giving you written notice:

  24.3.1 (a) if you breach our agreement in any material way;

• (b) to comply with our regulatory obligations;

• (c) if we suspect, or there has been, any fraudulent or criminal activity;

• (d) if doing so helps us protect the security and integrity of our operating systems 24.3.2 if one or more Third Party Suppliers terminate their relationship with you;

  24.3.3 if you prejudice in any way our rights in terms of these General Terms to debit your account with any sums/payments due by you;

  24.3.4 if any event or a series of events occur, which in our sole and absolute discretion may affect your ability or willingness to comply with any of his obligations under these General Terms or may damage our reputation or that of any Third Party Supplier;

  24.3.5 if, in our reasonably exercised judgement, you may be or are engaged in fraudulent or illegal activity;

  24.3.6 if we suspect fraudulent or unauthorised use of the Services for any restricted or prohibited activities;

  24.3.7 if you are a politically exposed person you do not or may not meet the requirements stipulated in the legal acts regulating the prevention of money laundering and terrorist financing;

  24.3.8 if there is a legal obstruction to validly contracting with you, such as restricted active legal capacity, lack of authorisation or ambiguous authorisation;

  24.3.9 if you have been prosecuted and/or convicted for a financial or economic crime, fraud or another crime with regard to abuse of trust;

  24.3.10 if you are in breach of your contractual obligations;

  24.3.11 if you have supplied insufficient or inaccurate information;

  24.3.12 if you did not answer our reasonable inquiries in a timely manner. In this instance, we reserve the right to freeze funds and/or withhold any payments due to you as per the Specific Terms;

  24.3.13 if you are insolvent or bankrupt, or go into or commence proceedings for liquidation or makes an agreement with its creditors generally;

  24.3.14 if we are of the opinion that by continuing its relationship with you may be subject to a liability claim;

  24.3.15 if your operations appear to be contrary to public policy or standards of decency;

  24.3.16 if you have failed in your duty of good faith;

  24.3.17 if you are a partnership, the partnership ends;

  24.3.18 if you are an individual, you pass away;

  24.3.19 if you are a legal entity, control of you or your business changes; and/or

  24.3.20 for any reason valid at law, including where we are requested or directed to do so by any competent Court of Law, government authority, or law.

  24.4 Where we intend to, or do, terminate the agreement, we will notify you by such means as we deem appropriate to the circumstances.

  24.5 Termination of these General Terms will not affect the liability of any of the parties towards the other party existing at such date of termination.

  24.6 Where these General Terms are terminated, we will also instruct each Third Party Supplier to terminate their Third Party Terms with you. The manner in which such terminations will occur shall be subject to those Third Party Terms.

  24.7 Where these General Terms end, you must promptly return to us all equipment and materials supplied by us and must immediately pay any and all amounts due under the General Terms. You must promptly give us appropriate instructions with respect to the Services within one month from the termination of the account relationship so as to conclude the Services and return all assets to you (subject to our legal obligations in relation to the prevention of money laundering, fraud and other financial crimes). We reserve the right to transfer the resulting balance by any means that we deem appropriate.

  24.8 Upon termination, you will no longer be able to use our website, the Foren Platform or our Services. On termination, for whatever reason, we will withdraw all rights granted to you in respect of the use of the Services and you must immediately remove the Foren Platform application and/or website from your devices.

25. Survival of Clauses Following Termination

25.1 Termination of the Agreement (howsoever occurring) shall not affect any party’s accrued rights or liabilities (including but not limited to the obligation to pay any fees) or affect the coming into force or the continuance in force of any provision which is expressly or by implication intended to come into or continue in force on or after termination.

26. Force Majeure

26.1 A party to this Agreement shall not be considered to be in default of its obligations under this Agreement to the extent that performance is prevented, hindered or delayed by circumstances beyond its reasonable control and which does not relate to its fault or negligence or that of its subcontractors, except to the extent that such events were not reasonably foreseeable and could not have been avoided had the party seeking relief under this provision taken all reasonable steps to avoid or mitigate the effects of the event) (a “Force Majeure Event). A Force Majeure Events includes each or any combination of:

26.1.1 war (whether declared or not), civil war, sabotage or riots, revolution and terrorism;

26.1.2 pandemic, quarantine or national/international curfew or lockdown;

26.1.3 natural disasters such as violent storms, earthquakes, tidal waves, floods and/or lightning;

26.1.4 explosions, fires and/or destruction of plant, machinery, and/or premises;

26.1.5 external power failures, external telephone network failures, serious crime and evacuations;

26.1.6 strikes and labour disputes of all kinds (except in case of each Party’s employees); and

26.1.7 non-performance by suppliers, assignees, sub-contractors or any other party which enters into an arrangement with us in respect of the provision of the Services, where such non-performance is (i) caused by a change in the regulatory status or licensing status of such party, or (ii) due to our reasonable belief that there is or will be a change in the regulatory status or licensing status of such party, or (iii) due to our reasonable concern about ability of such party to provide its service in a compliant and reliable manner.

26.2 A party that is prevented, hindered or delayed from or in performing any of its obligations under this Agreement by a Force Majeure Event, the Agreement shall remain in place but those obligations in question (and the other party’s corresponding obligations, if any, under the Agreement) shall be suspended for so long as the Force Majeure Event continues to the extent that it prevents, hinders or delays its performance of those obligations.

26.3 A party claiming relief under this provision due to a Force Majeure Event shall:

26.3.1 promptly notify the other party, and keep the other party fully informed, of all matters relevant to the Force Majeure Event (including the time period for which the first party expects the Force Majeure Event to impact its performance); and

26.3.2 take all reasonable steps available to it to minimise the effects of the Force Majeure Event (including by following its own business continuity plan and/or disaster recovery procedures, where applicable).

26.4 If the period of delay or non-performance arising due to a Force Majeure Event continues for a period longer than four (4) weeks then the Party not affected may terminate this Agreement by giving seven (7) calendar days’ written notice to the affected Party.

27. Communications

27.1 Subject to law or regulation, we may provide any information exclusively via electronic channels. By entering into the Agreement, you undertake to regularly review the app, our website and the email account connected to your Foren account to determine if we have notified you of any matters.

27.2 Unless an alternative method is required by Applicable Law, you agree that whenever the conditions for the provision of information to you via the app, our website or via email are fulfilled, we will be deemed to have properly notified you.

27.3 Where permitted by Applicable Law, we shall inform you electronically about any changes to such information by indicating the location of that information within the Foren Platform or website where you can have access to the modified information.

28. Notices

28.1 Any notice made by either party to the other under this Agreement shall be made via email or by post to an address used by that party. Any notice or communication shall be deemed to have been duly received on the next Business Day following its communication, apart from in the case of email, which shall be deemed received on the same Business Day, provided it has been communicated within normal working hours and if not, then the following business day.

29. Limitation of Liability and Indemnity

29.1 Both you and we agree that neither party to this Agreement, nor any of its officers, employees, agents or affiliates shall be liable for the acts or omissions of the other party, its officers, employees or agents.

29.2 Both you and we agree to indemnify and hold the other party harmless for any damages, losses, costs or expenses incurred arising from the acts or omissions of its officers, employees or agents.

29.3 You agree to indemnify and hold us harmless from, against and in respect of any and all losses, damages, costs, liabilities, expenses, whether foreseeable at the date of entering into the Agreement or not, whether resulting directly or indirectly, wholly or in part, or in connection in any way with, any breach of this Agreement.

29.4 You agree to indemnify us in full against any and all claims, expenses, liabilities, costs, losses and damages incurred or suffered by us, arising from or relating to:

29.4.1 any claims and any other legal actions brought against us by a competent authority or third party, to the extent such claims arise out of or in connection to or as a consequence of any breach of the requirements of failure by you to comply with these General Terms, any Third Party Terms, a Regulatory Authority’s requirements, or Applicable Law, and any reasonable steps taken by us in the protection of our interests in response to any such breaches.

29.4.2 any failure of you to comply with your obligations under any applicable anti-money laundering legislation and/or data protection laws in connection with your use of the Services;

29.4.3 enforcing or attempting to enforce these General Terms;

29.4.4 any reasonable steps taken in the protection of our interests in connection with any allegation of fraud made in relation to you; and

29.4.5 enforcing the indemnity set out in this Clause, (including without limitation reasonable legal fees and expenses) arising out of any breach by you of any provision such costs to be assessed by the Court on an indemnity basis in the absence of written agreement between the parties.

29.5 You agree that we shall not be liable for the acts or omissions of any third party, nor its officers, employees or agents, in relation to their performance of any services under any Third Party Terms.

29.6 Nothing in the Agreement will operate to limit either party’s or nor any of their officers’, employees’ or agents’ liability with respect to fraud or for death or personal injury resulting from negligence, in either case whether committed by that party or its officers, employees or agents.

30. Data Protection

30.1 When you visit this website or use Foren Services, you agree and accept that we may process personal information concerning you, your representatives and beneficial owners (in case of legal entities). By using our Services, you consent to such processing, and you commit to providing accurate information.

We may:

Communicate your personal information to third parties where such communication is required by Applicable Law or a Competent Authority.

Disclose information relating to you, your representatives and beneficial owners, to third parties, including public authorities and correspondent banks.

Authenticate your information for the purposes of performing Know your Customers (KYC) verification, anti-fraud, anti-terrorism and other safety and security reviews

Subject your personal information to processing by us and other specialised intermediaries, such as SWIFT (Society for Worldwide Interbank Financial Telecommunication). Such processing may take place in centres established in other EEA countries, in the United States of America and other countries pursuant to local regulations.

As part of this Agreement, you are deemed to expressly instruct us to communicate, disclose and transfer such personal information without reservation. You hereby expressly consent to all items of information required for the proper execution of instructions to be communicated to any relevant third parties connected to the performance of the Services.

30.2 Our Privacy Policy provides an overview of the Personal Information we collect about you or that you provide to us and how we store and use the information provided by you in line with applicable Data protection legislations. The policy is available at https://Foren.co.

31. Counterparts

31.1 The Agreement may be executed in any number of counterparts but shall not be effective until each party has executed at least one counterpart. Each counterpart when executed shall be an original, but all the counterparts together shall constitute one document.

32. Remedies Not Exclusive

32.1 Except as expressly provided under the Agreement, the rights and remedies contained in this Agreement are cumulative and are not exclusive of any other rights or remedies provided by law or otherwise.

33. Third Parties

33.1 A person who is not a party to this agreement shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any of its provisions unless the right of enforcement is expressly granted to them.

34. No Waiver

34.1 A failure or delay by either party to exercise or enforce any right or remedy under this Agreement shall not be construed or operate as a waiver of that right or remedy nor shall any single or partial exercise of any right or remedy preclude the further exercise of that right or remedy.

34.2 A waiver by either party of any breach of or default under the Agreement shall not be considered a waiver of a preceding or subsequent breach or default.

34.3 A purported waiver or release under the Agreement is not effective unless it is a specific authorised written waiver or release.

35. No Partnership

35.1 No action taken by either of the parties under the Agreement shall be construed as creating a partnership or joint venture of any kind between the parties or as constituting you becoming our agent for any purpose whatsoever.

36. Assignment, Subcontracting and Transfer of Rights

36.1 We may assign, transfer or subcontract any or all of our rights and/or obligations under this Agreement.

36.2 Notwithstanding Clause 34.1, neither party to this Agreement shall assign, subcontract, transfer, charge, create a trust over or otherwise deal in your or our rights and/or obligations under the Agreement (or purport to do so), in whole or in part, without the other’s prior written consent which shall not be unreasonably withheld or delayed.

36.3 Unless otherwise stated in the Agreement, neither your or our liability to each other shall be affected by any assignment, transfer, charge, subcontract, delegation, declaration of trust or other dealings.

37. Entire Agreement

37.1 The Agreement represents the entire Agreement between you and us in relation to its subject matter and supersedes and extinguishes any prior drafts, and all previous contracts, arrangements (including any usage or custom and any terms arising through any course of dealing), representations, warranties of any nature whether or not in writing relating to its subject matter.

37.2 Both parties acknowledge and agree that in entering into the Agreement on the terms set out in the Agreement that we are not relying upon (and shall have no remedy in respect of) any statement, representation, warranty, promise or assurance made or given by any other or any other person (whether negligently or innocently made), whether or not in writing, at any time prior to the execution of the Agreement which is not expressly set out in it. Nothing in this Clause shall operate to limit or exclude any liability for fraud.

38. Severability

38.1 If any of the provisions of this Agreement, is considered to be invalid, unlawful, unenforceable, obsolete or illegal as such by a law, a regulation or by a court of competent jurisdiction or relevant authority, as the case may be, the extent of such contravention of law, be deemed severable and the other provisions shall retain their binding force and scope. To and shall not affect any other provision of this Agreement or its validity.

38.2 Any provision which is acknowledged severable shall be modified to the least extent possible as to become valid and enforceable whilst affording us and you the intended rights and/or obligations.

39. Complaints and Dispute Resolution

39.1 If you have any complaints about us, our Services and/or the manner in which we have provided them, should be notified to us via email to help@Foren.co. 39.2 Foren has internal dispute resolution procedures for fairly and promptly resolving complaints in line with the requirements of the FCA. We will review each complaint and respond to you promptly on the possible resolution of the complaint. Please contact us via email to help@Foren.co for a copy of our complaint handling procedures.

39.3 If you are not satisfied with the way we have handled your complaint, or our response, you may be able to take your complaint to the Financial Ombudsman Service. This will depend on the type of customer you are and the Service you have received. If you do not make your complaint to us first, you won’t be entitled to complain to the Ombudsman.

39.4 The Financial Ombudsman Service can be contacted through the following means:

39.4.1 Phone: +44 300 123 9 123 or +44 800 023 4567 from 8am to 8pm Monday to Friday, and from 9am to 1pm on Saturdays;

39.4.2 E-mail: complaint.info@financial-ombudsman.org.uk; and

39.4.3 Online: https://help.financial-ombudsman.org.uk/help.

39.5 If you fall victim to APP fraud, you may be entitled to reimbursement up to £85,000 subject, provided the following exceptions do not apply:

39.5.1 payments which take place across other payment systems, other than Faster Payments or CHAPS

39.5.2 payments made before 7 October 2024

39.5.3 international payments

39.5.4 payments made for unlawful purposes

39.5.5 civil disputes, such as where you have paid a legitimate supplier for goods or services but have not received them, they are defective in some way, or you are otherwise dissatisfied with the supplier.

40. Governing Law and Jurisdiction

40.1 The relationship between you and us, this Agreement and any dispute or claim arising out of, or in connection with it, its subject matter or formation (including non-contractual disputes or claims) shall be governed by, and interpreted in accordance with, the Laws of England and Wales.

40.2 The relations between you and us shall only be regulated by the law of a foreign country if it is so prescribed by the law of the domicile of the Client or international agreement. In cases when the Client is a consumer, the laws of a foreign country may apply as well.

40.3 Any dispute or claim arising out of or in connection with the Agreement, its subject matter or formation (including non-contractual disputes or claims) shall be of the exclusive jurisdiction of the courts of England and Wales, unless otherwise agreed by you and us or provided otherwise in the law according to the applicable jurisdiction rules of the relevant European Regulation or applicable convention.

40.4 We reserve the right to make amendments to this Agreement as are necessary to comply with any laws and regulations that are applicable to the performance of our obligations under this Agreement where such laws and regulations are implemented and/or amended after the date of this Agreement, with or without notice to you. Any such amendments to this Agreement will come into effect immediately. If we receive no objection from you and you continue to use our Services and/or Website after these changes have come into effect, you are deemed to have agreed to be bound by the changes. All current versions of our Terms and Conditions will always be found on this page.

41. Changes to These General Terms and Conditions

41.1 If you are a consumer, a micro-enterprise or a charity, we reserve the right, at any time, to amend any part of the Agreement upon giving you at least two months’ notice before the date on which the amendments are to take effect.

41.2 Subject to Clause 37.1, we reserve the right to amend any part of the Agreement with one month’s notice and such amendments shall be binding upon you immediately on the expiry of such notice to you.

41.3 Where appropriate, the amendments may be made by way of a separate document which shall then form an integral part of the Agreement.

41.4 The amendment shall automatically take effect upon the expiry of the notice period communicated to you. If you do not notify us of your intention to refuse the amendments, you will be deemed to have accepted them and the relationship between you and us shall be governed by the new version of the Agreement. Where you wish to object to such amendments and/or additions or separate documents are entitled to terminate the relationship with immediate effect.