Terms of Service

TERMS AND CONDITIONS OF SERVICE

ONE. GENERAL PROVISIONS

  1. These Terms and Conditions of Service (“Terms”) govern the provision of electronic money remittance services by Chu Pay Pty Ltd (hereinafter referred to as the “Company”) to individuals and legal entities (hereinafter referred to as the “User”) through its mobile application, and define the rights and obligations of the parties.
  2. The Company reserves the right to amend these Terms independently. The User shall review and familiarize themselves with these Terms prior to using the services provided by the Company.

TWO. DEFINITIONS

For the purposes of these Terms, the following terms shall have the meanings set out below:

  1. “Application” means the electronic platform operated by the Company for providing money remittance services through electronic means.
  2. “Service Fee” means the service charge predetermined by the Company and applicable to the services requested by the User.
  3. “Exchange Rate” means the foreign currency conversion rate determined by the Company for the purpose of conducting international money transfers.

THREE. RIGHTS AND OBLIGATIONS OF THE USER

  1. The User shall be responsible for maintaining the security and confidentiality of their username, password, and one-time verification codes used to access the Application and shall not disclose such information to any third party.
  2. For the purpose of protecting their account and personal information, the User shall log out of the Application after completing the use of the services. The Company shall not be liable for any risk, loss, or damage to the User's personal or other information resulting from the User's own negligence or actions.
  3. If the User believes that their access credentials have been lost, disclosed, transferred to another person, or that an unauthorized person has accessed their personal information or account, the User shall promptly change their password and take appropriate security measures.
  4. The User has the right to submit feedback, complaints, and inquiries regarding the services.
  5. The User shall provide accurate, complete, and truthful information when registering for the Application and when using the services and shall be responsible for the accuracy and completeness of such information.
  6. The User shall strictly comply with the Law of Mongolia on Combating Money Laundering and Terrorist Financing, the Law of Mongolia on Currency Regulation, the requirements and regulations of the Australian Transaction Reports and Analysis Centre (AUSTRAC), and all other applicable laws, regulations, and requirements.
  7. In accordance with the Law of Mongolia on Combating Money Laundering and Terrorist Financing, if a User's transaction is classified as suspicious, or if the aggregate amount of one or more related transactions conducted within a 24-hour period exceeds MNT 20,000,000, the Company may request additional information and supporting documents as required by applicable law. The User shall provide such information and documents upon request.

FOUR. RIGHTS AND OBLIGATIONS OF THE COMPANY

  1. If the User fails to comply with the obligations stipulated in these Terms or fails to provide information necessary for the provision of the remittance service, the Company shall have the right to refuse or suspend the provision of the service.
  2. The Company shall take reasonable measures to ensure the security and reliability of the User's personal information collected and processed in connection with the services and shall not use such information for purposes other than those related to the provision of the remittance service or disclose it to third parties, except where disclosure is required or permitted by applicable law.
  3. The design, operating principles, software, database structure, and other elements of the Application are protected by applicable intellectual property and copyright laws.
  4. The Company shall provide the services in accordance with its predetermined operating hours and service schedule.
  5. The system may be partially or completely suspended temporarily for scheduled maintenance, upgrades, or other technical work. Where reasonably practicable, information regarding scheduled maintenance shall be communicated to Users in advance.
  6. The Company shall make reasonable efforts to identify and rectify system failures, restore reliable system operation, and cooperate with Users to process and complete remittance transactions as promptly as reasonably practicable.
  7. The Company shall provide information relating to the User's remittance transactions to legally authorized authorities in Mongolia and Australia, including, where applicable, the Financial Information Unit of Mongolia and AUSTRAC, in accordance with the applicable laws and regulations of the relevant jurisdiction.
  8. If the Company reasonably determines that a remittance transaction or requested service may violate the Law of Mongolia on Combating Money Laundering and Terrorist Financing, the Law of Mongolia on Currency Regulation, Australian AML/CTF laws and regulations, AUSTRAC requirements, or any other applicable law or regulation, the Company shall have the right to refuse, suspend, or cancel the service or transaction.
  9. Where required by applicable laws, regulations, or compliance requirements, the Company may request additional information, documents, explanations, or clarification from the User in relation to a transaction or the purpose or source of funds.

FIVE. PRIVACY AND INFORMATION SECURITY

  1. The Application shall enable the User to access and review their personal information, transaction history, active service requests, and the status or progress of such requests.
  2. The Company shall not be liable for any failure, delay, loss, or other consequence arising from inaccurate, incomplete, incorrect, or misleading information or data entered or provided by the User.
  3. The Company shall store the User's personal information, documents relating to service requests, transaction records, and other relevant data electronically in accordance with applicable laws and regulations and shall take reasonable measures to maintain the security of such information.

SIX. SERVICE FEES AND TRANSACTION CALCULATION

  1. The Company shall calculate and deduct the applicable Service Fee from the amount submitted by the User for remittance, and the remaining amount shall be processed as the remittance amount.
  2. After creating a remittance request, the User shall transfer the exact requested remittance amount to the Company's designated bank account in a single transaction. If the User wishes to transfer the amount in multiple installments, the User shall create a separate remittance request for each transfer, and the applicable Service Fee shall be calculated and deducted for each individual request.
  3. The User shall be solely responsible for any consequences arising from transferring an incorrect amount when using the service. If the User places the transaction into a cancellation status through the Application, the User shall contact the bank through which the funds were transferred and independently request the return or reversal of the transferred funds.

SEVEN. PROHIBITED USE AND LIABILITY

  1. The service shall not be used for any of the following purposes:
    1. Financing terrorism;
    2. Money laundering;
    3. Any other activity prohibited by applicable law.
  2. Any feedback, complaint, issue, or dispute arising in connection with the services shall, where possible, be resolved through mutual consultation and agreement between the parties. If the dispute cannot be resolved through mutual agreement, it shall be resolved in accordance with the applicable laws and regulations of the country in which the User resides.