Terms & Conditions

Chapter 1. General Provisions

Article 1 Purpose

These Terms & Conditions are intended to specify the matters pertaining to the rights, obligations, responsibilities of Cashmallow Hong Kong Limited, under a money service operator license number 18-03-02352 granted by the Hong Kong Customs and Excise Department, (hereinafter referred to as the “Company”) and the Member, and procedure for the Member’s use of the Service hereunder in connection with the Local Business Partners’ ATM or business branch Exchange Withdrawal & Conversion the Service and Remittance Transactions(hereinafter referred to as the “Service”) provided by the Company through small amount overseas remittance method via the Cashmallow mobile application(hereinafter referred to as “Cashmallow App”) or Website(hereinafter referred to as “Cashmallow Homepage”).

Article 2 Specification & Revision of Terms & Conditions

The Company specifies, delivers and explains these Terms & Conditions in accordance with Article 25.
The Company may amend these Terms & Conditions to the extent that such amendment does not breach the related laws, including, without limitation, the money service operator business regulations under the Money Services Operators Ordinance, the relevant regulations of the Hong Kong Customs and Excise Department and the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance as mandated by the laws of Hong Kong and any other rules and regulations regarding the Anti-Money Laundering and Counter-Terrorist Financing.
If the Company intends to amend these Terms & Conditions, the Company makes public notice by posting concerned details of amendment, date of effectiveness of amendment, reason for amendment, and current Terms & Conditions on the initial screen of the Company’s website or its linked screen or notifies the Member of the same by email, text message, SMS, etc., from seven(7) days in advance(30 days in advance for any change disadvantageous to users or for any significant change) until the day before the date of effectiveness of the amendment.
The Member is considered to have agreed to the amended Terms & Conditions if the Member does not express his/her intention to reject the amendment explicitly despite the unambiguous public notice issued at the announcement of the amended Terms & Conditions pursuant to the foregoing Clause, stating that the Member would be considered to have expressed his/her intention should he/she fail to express intention within thirty (30) days.
If the Member expressed intention explicitly that the Member does not agree to the amended Terms & Conditions, the Company should not apply the amended Terms & Conditions, and in such a case, the Member may terminate the Service Use Contract. Provided, if it is difficult to apply existing Terms & Conditions in terms of technology and operation, the Company may make compensation for damage caused by the Member and terminate the Service Use Contract.

Article 3 Definition

Member: The Member refers to the person who agrees to these Terms & Conditions, concludes the Service Use Contract with the Company, and uses the Service provided by the Company.
ID: ID refers to the combination of numbers and characters set by the Member and approved by the Company for identification of the Member and use of the Service.
Password: Password refers to the combination of characters, numbers and special characters set by the Member and approved by the Company to verify the identity of the Member and protection of the Member’s information.
Designated Account: Designated Account refers the account designated to be used for remittance transaction and currency exchange services.
Remittance Transactions: Remittance Transactions refers to the Service of the Company that when a Member deposits money into a Designated Account, the amount minus the Commission is converted into foreign currency and remitted to the recipient designated by the Member.
Local Withdrawal Exchange Service Using the Overseas Remittance Method: Local Withdrawal Exchange Service Using the Overseas Remittance Method refers to the Service of the Company that when a Member deposits to a Designated Account, the amount minus the fee is converted into foreign currency and deposited in the Member’s Traveler’s Wallet in the form of E-Money, and the Company supports the withdrawal of foreign currency corresponding to the E-Money deposited to the ATM or branch office of a Local Business Partner.
E-Money: E-Money refers to the virtual confirmation certificate proving the foreign currency exchange, which is issued by the Company for the foreign currency amount converted at the Applied Exchange Rate deposited after the Company confirms the Member’s application for currency exchange and the payment of the remittance principal and Commission.
Traveler’s Wallet: Traveler’s Wallet refers to the software that can store the E-Money issued by the Company.
OTP CODE: OTP CODE refers to the single-use certification number or QR code which is randomly created and issued at the Withdrawal Request made by the Member.
Local Business Partners: Local Business Partners refer to the bank, ATM corporations, currency exchange franchise group, which enter into partnership agreement with local corporations to provide support to the Members for local withdrawal of foreign currency.
Remittance Request: Remittance Request refers to a request of the Member to the Company for conversion a certain amount of money into foreign currency serviced by the Company and request a remittance to the recipient designated by the Member.
Currency Exchange Request: Currency Exchange Request refers to the request of the Member to the Company for conversion of certain amount of money into foreign currency which then can be withdrawn from Local Business Partners’ ATM or branch.
Withdrawal Request: Withdrawal Request refers to the request made by the Member selecting the ATM or branch of Local Business Partners via the Cashmallow App or Cashmallow Homage for withdrawal of E-Money held in Traveler’s Wallet. Withdrawal Request is available during the business hour of each Local Business Partners.
Business Day: Business Day refers to a day on which business is conducted normally in the Republic of Korea, excluding the public holidays, weekends, and alternative holidays.
Applied Exchange Rate: Applied Exchange Rate refers to the exchange rate applied by the Company for the Service use and Re-Exchange Refund. When using the Service, you can confirm Applied Exchange Rate on the Cashmallow App or Cashmallow Homepage.
Commission: Commission refers to certain amount of money charged to the Member for the use of the Service provided by the Company. When using the Service, you can confirm the Commission on the Cashmallow App or Cashmallow Homepage.
Re-Exchange Refund: Re-Exchange Refund refers to the procedure that, if the Member requests re-exchange the amount of E-money the Member already had completed the request of exchange to the currency that the Member had deposited or the Service Use Contract is terminated by the Member or terminated by the Company at the Member’s fault, the Member’s remaining E-Money is refunded in the currency that the Member had deposited. In case of Re-Exchange Refund, the amount applied by the exchange rate at the time of application for Re-Exchange Refund or termination of the Service Use Contract minus the commission for the Re-Exchange Refund is paid to the account in which the member registered.
Cancellation Refund: Cancellation Refund refers to the procedure that the Member receives the full amount deposited for the use of the particular service to the account in which the member registered when such service cannot be provided by the Company’s or Local Business Partners’ fault.
Refusal Refund: Refusal Refund refers to the procedure that the Member is refunded full amount deposited for the use of particular service when the Company rejects the transaction due to suspicion of a Member’s service request as money laundering or terrorist fund transaction. In the event of a Refusal Refund, if actual expenses such as bank transfer fees occur, the Member will be refunded after deducting such amount.

Article 4 Provision of Information & Publication of Advertisements)

The Company may run the advertisements in the Service to maintain the Service, etc. The Members may be exposed to advertisements when they use the Service.
The Company will not be held responsible for any loss or damage arising from participation by the Member in any advertisements referred to in the foregoing Clause 1, which are run by the Company for any third-party advertiser, or arising from communication or transaction by the Member in connection with such advertisements.
The Company may use the personal information collected from the Member with his/her prior consent in sending the advertisements, referred to in the foregoing Clause 1, via SMS, smartphone alert, email, and text message for the purpose of the Service as agreed by the Member. User may opt out at any time if he/she does not want to receive them.

The company processes the following items of personal information.
1. Name, ID, password, mobile phone number, email address, birthday, bank account number (for signing up)
2. Service usage records and device information (for sanction and prevention of misuse)
3. (For domestic) Name, HKID number, copy of identification card, contact information, bank account information (for identification to financial transactions)
4. (For foreigner) name, copy of passport, nationality, number of passport, expiry date of passport, birthday, bank account information (for identification to financial transactions)
5. Service usage record (the type and number of transactions served, etc.), access log, cookie, access IP information (for identification to financial transactions)
6. Service usage records and device information (for new service development, marketing and advertising)
In the process of using the Service, IP information, cookies, service usage records, mobile device information, etc. may be automatically generated and collected.

Chapter 2. The Service Use Contract

Article 5 The Service Use Contract

The Service Use Contract (hereinafter referred to as the “Service Use Contract”), which pertains to the Service provided by the Company, will become valid when the Company accepts the Service application submitted by the person who wants to use the Service.
Only those who are 18 years or older can sign up for the Membership.
The Service application should be made under real name. Any person, who signs up for the Membership, using any name other than his/her real name or any information stolen from others, will not be allowed to use the Service provided by the Company. The Member should comply with the request of the Company for presentation of necessary materials, including the copy of his/her identification card, passport, and other real name verification materials for verification of real name.
Each Member is, in principle, allowed to use one (1) ID.

Article 6 Acceptance for The Service Application

In principle, the Company accepts the Service application upon completion of real name verification, when the applicant has filled out correctly the mandatory information required by the Company, and has agreed upon these Terms & Conditions.
The Company may refuse to accept the Service application in any of the following cases:
(1) If the Service application is made any person younger than 18 years old
(2) If the results of real name verification show that the application for transaction was submitted by any person other than the applicant himself/herself or under any name other than the applicant’s real name
(3) If the membership application form was filled out with false information, regarding the essential information required
(4) If the use of the Service constitutes or is very likely to constitute the breach of the laws other than the laws of Hong Kong which are effective in the place of residence of the Member
(5) If the Service application is found to contravene these Terms & Conditions or violate the laws or considered fraudulent.
The Company may withhold its acceptance of the Service application in any of the cases specified below. In such cases, the Company should notify the Service applicant, either by email or by posting on concerned the Service screen, of the withdrawal of acceptance and related information, including, without limitation, the reason for withdrawal of the acceptance, time at which the Service application can be accepted later, or the additional information necessary for acceptance of the Service application.
(1) If there is no room for facilities
(2) If there is any technological disruption
(3) If it is considered necessary based on reasonable judgment of the Company

Article 7 Management of Account

This Service supports only one (1) account for each the Member.
Each account may be used only by the Member himself/herself. In no case, the Member may allow other persons to use his/her own account.
The Member should manage his/her ID and password, etc., directly, to ensure that his/her account is not used by other persons. The Member should be solely responsible for the consequences of not managing his/her ID and password properly, unless they were caused by intent or negligence of the Company.
The Member should immediately report to the Company upon becoming aware that his/her ID has been used fraudulently, and then follow the guidance and instructions of the Company.
In any cases corresponding to the foregoing Clause 4, the Company will not be held responsible for any disadvantages arising from the failure of the Member to report to the Company or to follow the guidance and instructions of the Company thereafter.
If the account and password, etc., of the Member exactly match those that the Member registered with the Company, the Company considers the person as the Member without separate identity verification procedure.
In the event of any change in the information provided to the Company at the Service application, the Member should revise concerned information directly in the Service or make request, either by email or through the Member Support Center, for update of information, so that his/her information is kept up-to-date. the Company will not be held responsible for any disadvantages arising from the failure of the Member to revise his/her information.
The Company immediately revises the personal information of the Member after being notified by the Member of the changes pursuant to Article 7 above.

Article 8 Termination of The Service Use Contract

The Member may terminate the Service Use Contract at any time by notifying the Company of its intention to terminate the Contract. the Company should provide the procedure for terminating the Service Use Contract via the Cashmallow App and Cashmallow Homepage. The Service Use Contract is terminated when the intention of the Member to terminate the Contract is conveyed to the Company. The Member who terminated the Contract may re-register the Membership in accordance with the Membership registration procedure specified by these Terms & Conditions and pursuant to related provisions.
At the termination, the Service Use Contract as specified in the Clause 1 above, the personal information of the Member will be processed in accordance with the Personal Information Processing Policy of the Company.
The Company may terminate the Service Use Contract in any of the cases specified below. In such a case, the Company should notify the Member of its intent to terminate the Contract, specifying the reason for termination by SNS, email, phone or by other means. At this time, the Company should provide the Member with an opportunity for stating his/her opinion in advance with respect to the circumstances for termination. The Service Use Contract is terminated when the intention of the Company to terminate the Contract is conveyed to the Member.
(1) If the Company is considered to have reason to refuse to accept the Service application as stipulated in Clause 2, Article 6
(2) If the Member was involved in any behavior contravening these Terms & Conditions and has failed to cure the breach even after the Company requested the Member to cure the breach within certain period
If the Member holds any remaining E-Money when the Service Use Contract is terminated pursuant to this Article, the Company shall request the Member to enter the account information, etc. for the Re-Exchange Refund of remaining e-money within a minimum period of 30 days to the contact information entered by the Member when joining the Service. In case of Re-Exchange Refund, the amount applied by the exchange rate at the time of termination of the Service Use Contract minus the commission for the Re-Exchange Refund decided by the Company is paid to the account in which the member designated. Member can confirm the commission for the Re-Exchange Refund on the Cashmallow App or Cashmallow Homepage when using the Service. If the Member does not enter information for Re-Exchange Refund within the period request by the Company and the extinctive prescription is completed, the remaining E-Money will be dissolved.

Chapter 3. Rights & Obligations of the Company and the Member

Article 9 Obligation of the Company

The Company does not and will not be involved in any behavior prohibited by related laws and these Terms & Conditions and always exerts the best efforts to provide the Service in a continuous and stable manner.
The Company is equipped with the security system necessary for protection of personal information in accordance with the laws governing the protection of personal information to ensure that the Member can use the Service safely, and publishes and complies with the Personal Information Protection Policy.

Article 10 Obligation of The Member & Restrictions Imposed for Breach

The Member should not be involved in any of the following behaviors:
(1) If the Member signed up for the membership, using the falsified personal information or under the name other than his/her real name
(2) If the Member uses as he/she were other persons, or entrusts other persons with the use of the Service
(3) If the Member causes disruption to other Members in their use of the Service
(4) If the Member modifies the Cashmallow App or Cashmallow Homepage without authorization or is involved in any behavior that threatens the system, like hacking of the server
(5) If the Member causes damage to reputation or credibility of the Company, Local Business Partners or any third party by disseminating false information, fraudulent or deceptive methods or by other means
(6) If the Member breaches its obligation under Terms & Conditions or violates the laws
If any of the following in Clause 1 occurs, the Company may, without prior notice, terminate the Service Use Contact and disqualify for the Membership permanently. In such a case, the Company may preclude re-registration of the membership. Also, the Company may report the event to the related authority in accordance with related laws.
If the Member holds any remaining E-Money when the Service Use Contract is terminated pursuant to the foregoing Clause 2, the Company shall request the Member to enter the account information, etc. for the Re-Exchange Refund of remaining e-money within a minimum period of 30 days to the contact information entered by the Member when joining the Service. In case of Re-Exchange Refund, the amount applied by the exchange rate at the time of termination of the Service Use Contract minus the commission for the Re-Exchange Refund decided by the Company is paid to the account in which the member designated. Member can confirm the commission for the Re-Exchange Refund on the Cashmallow App or Cashmallow Homepage when using the Service. If the Member does not enter information for Re-Exchange Refund within the period request by the Company and the extinctive prescription is completed, the remaining E-Money will be dissolved.
If any of the following in Clause 1 occurs, the Company may impose restriction on the use of the Service (prohibiting the use of the Service for a certain period), instead of terminating the Contract.

Chapter 4. Use of the Service

Article 11 Details of the Service

The Company offers the following Services:

Remittance Transactions (hereinafter referred to as “Remittance” in this Chapter); and
Local Withdrawal Exchange Service Using the Overseas Remittance Method (hereinafter referred to as “Exchange” in this Chapter)

Article 12 Apply for Service

The Member may Remittance or Exchange the money through the Service provided by the Company within the range of payment and receipt per transaction and within the range of annual payment and receipt, as notified by the money service operator business regulations under the Money Services Operators Ordinance, the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance and the other relevant laws. The Company notifies the Member of related details on the initial screen or public notice screen of Cashmallow App or Cashmallow Homepage.
After completing the personal identity verification by uploading or sending a copy of his/her real name verification material and other necessary materials to the Cashmallow App or Cashmallow Homepage, the Member may make request for Remittance or Exchange by entering the amount of money for Remittance or Exchange, desired currency for payment, desired area/region for withdrawal, etc. When using Local Withdrawal Exchange Service Using the Overseas Remittance Method, only the Member who requested for such service can withdraw the money exchanged through the service, and the Member must sign an online self-withdrawal consent provided by the Company to apply for the service.
After completing the application for service, the Member should deposit the amount requested for Remittance or Exchange, along with the commission (hereinafter referred to as the “Commission”) to the designated account by the Company. In this case, the transfer should always be made under the real name of the Member (same name as the Member’s name in real name verification material).
In cases where name of account holder who remitted concerned amount does not match the name indicated on the copy of real name verification material submitted by the Member or where the name of the account holder who remitted concerned amount cannot be verified, the Company may require the Member to submit the copy of bankbook bearing the evidence of remittance.
When the Company is requested for the use of service from the Member, the Company shall provide matters concerning the amount paid and received by the Member in HKD and foreign currency, and the expected period for the payment or receipt of the money.
The Member may use the Service, made available by the Company, for 24-hours per day and 365-days per year. However, the Company may restrict the use of the Service with a prior notice to the Member, specifying the reason and period of restriction, if such restriction is unavoidable for reason of the Service overhaul, etc.

Article 13 Designated Account

In case of Remittance Transactions, the Company can pay money to the Members and receive money from the Members through the Designated Account.
The Company’s Local Withdrawal Exchange Service Using the Overseas Remittance Method. The Company can pay foreign currency to the Members through the ATM or branch of a Local Business Partner.

Article 14 Notice on Completion of Currency Exchange & Obligation of the Member to Check

Upon completion of Exchange or Remittance, the Company shall notify the Member of the details of currency exchange by email, SNS, Cashmallow App notice or text message.
In the event of discrepancy between the details of Exchange or Remittance requested by the Member and the details of the notice on completion made by the Company, the Member should notify the Company of such discrepancy forthwith and request the Company to verify concerned fact.
The Company shall notify the Member of the verified details of fact and solution to the discrepancy within two (2) weeks after it was requested by the Member as specified in the foregoing Clause 2.

Article 15 Commission & Foreign Exchange Rate, Etc.

The Company shall post the details related to Commission on the Cashmallow App or Cashmallow Homepage and keep them up-to-date.
If the Company is requested the Service use from the Member, the Company shall offer the information related to the Applied Exchange Rate. The Company shall post the details related to Applied Exchange Rate on the Cashmallow App or Cashmallow Homepage and keep them up-to-date.
The Company should retain the information on the Member’s Remittance or Exchange request, details of withdrawal request, details of actual withdrawal, etc., for the period specified by the related laws.

Article 16 Restriction & Refusal Refund on Abnormal Transaction, Etc.

If any transaction is suspected to be an abnormal transaction different from normal transaction, money laundering or fund for terrorism transaction, and other transactions suspected to breach related laws such as the money service operator business regulations under the Money Services Operators Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, or if such illegal transactions are likely to occur, the Company may notify and may temporarily restrict the Member from using the Service or rejects the transaction until the transaction is verified.
If the Company rejects the transaction pursuant to clause 1, the Company may perform Refusal Refund the amount deposited by the Member. In the case of such Refusal Refund, the Company may return the amount minus actual expenses, such as bank transfer fee, if such expense occurs.
If there was a reason for suspicion of an abnormal transaction, money laundering or fund for terrorism transaction, or other transactions in violation of related laws and regulations, the Company shall not be liable for the restriction of Service use and refusal of transaction.

Article 17 Change, Cancel and Withdrawal of Remittance Transactions

The Member may apply for change or cancellation of Remittance Transactions through telephone, visit to a branch office, or through the Cashmallow App until the Member applies for the Remittance Transactions and completes the deposit to the Company’s Designated Account. Provided, it is impossible to cancel or change Remittance Transactions after the deposit to the Company’s Designated Account is completed.
The Member may apply for withdrawal of remittance to the Company if the remittance process is not completed within fifteen (15) days from the date the Member completed deposit to Designated Account for the Remittance Transactions.
When the Company receives the request for withdrawal of remittance under Clause 2 from the Member, the Company shall pay the amount deposited by the Member into the Designated Account and the applicable amount for compensation for damages in accordance with Article 21 to the Member except that there are extraordinary circumstances. Provided, if the request for withdrawal of remittance is made because the remittance process is not completed due to reasons attributable to the Company or Local Business Partner, the Company shall refund the Member by the means of Cancellation Refund.

Chapter 5. Local Withdrawal Exchange Service Using the Overseas Remittance Method

Article 18 Exchange Request

After the deposit from the Member and identity verification are completed, the Company shall generate E-Money equivalent to the amount of foreign currency requested to Exchange, applied by the Applied Exchange Rate at the time of application for Exchange, to the Member’s Traveler’s Wallet (hereinafter referred to as “Complete the Exchange”). In this case, the Company generates E-Money only if the sum of the amount the Member requested for Exchange and Commissions matches the amount actually deposited by the Member. If the deposit is not confirmed within a period designated by the Company, the transaction may be terminated with the in-app notification to the Member.
If the Member does not deposit the amount of the Member requested for Exchange and Commissions to the account designated by the Company within the period designated by the company after the completion of request for Exchange, the application for Exchange will be canceled (hereinafter referred to as “Cancellation of Exchange Request”).

Article 19 Withdrawal Request

The Member can withdraw foreign currency exchanged via the Cashmallow App through ATMs or branches of Local Business Partners. The amount of withdrawal is limited to the amount of foreign currency equivalent to the E-Money stored in the Member’s Travel Wallet.
The Member can withdraw the amount requested for withdrawal from the ATM that the Member had requested for withdrawal by entering the OTP code granted when the withdrawal request is made, passport number etc. After the completion of withdrawal, the amount of E-Money equivalent to the amount of withdrawal will be deducted from the Member’s Traveler’s Wallet.
The Member may withdraw the amount requested for withdrawal by entering the QR code given from the branch office of the Local Business Partners when the withdrawal request is made, passport number etc. After the completion of withdrawal, the amount of E-Money equivalent to the amount of withdrawal will be deducted from the Member’s Traveler’s Wallet.

Article 20 Re-Exchange Refund Request of Exchange Amount

After the Exchange request is made and before the withdrawal request is made, the Member can get Re-Exchange Refund for the Exchange amount using Cashmallow App. When the Member applies for Re-Exchange Refund, the Company returns the amount applied by the exchange rate at the time of application for Re-Exchange Refund minus the Commission to the account in which the Member designated upon the request for Re-Exchange Refund. The Commission is determined by the Company, considering the transfer fee of the designated account, the fee charged by the Local Business Partner, and the fee for Re-Exchange Refund notified in advance by the Company.

Article 21 Cancellation Refund

If the local withdrawal and exchange service cannot be provided by the Company’s or Local Business Partners’ fault, the Member may cancel the Exchange request. In this case, the Company shall do the Cancellation Refund which refunds full amount deposited by the Member for the Exchange.

Chapter 6. Liability for Compensation, Etc.

Article 22 Compensation for Damage

The Company is responsible for making compensation for damage caused to the Member as a result of any of the following incidents with the fault of the Company. The scope of compensation will be limited to the extent of the general compensation specified by the Civil Law. For the compensation arising from special circumstances, the Company is only responsible for the damages that the Company was aware of or could be aware of such circumstances.
(1) Any incident caused due to falsification or alteration of the access media
(2) Any incident caused in the course of electronic transmission or processing of Currency Exchange Request and Withdrawal Request
(3) Any incident caused by the use of the access media obtained through falsified or fraudulent methods by infiltrating the electronic system or the Company’s information network used for providing the Service
Notwithstanding the Clause 1, the Company may hold the Member responsible in whole or in part by considering the rate of negligence of the Member in any of the following cases:
(1) If any incident was caused by the Member’s willful misconduct or gross negligence
(2) If the Member failed to immediately notify the Company although he/she was aware of the occurrence of incident
(3) If the Member leased his/her the Member ID or password to any third party or entrusted any third party with the use of his/her the Member ID or password
(4) If the Member leaked or exposed his/her ID and has done nothing to prevent such leakage or exposure, although the Member was actually aware or could be easily aware that any unauthorized third party could use his/her ID and password to use the Service provided by the Company
(5) If the Member causes damage to the Company by violating Article 10
If the Company incurs damage pursuant to Item (5) of Clause 2, the Company may offset the E-Money held by the Member to the extent of the same amount of the damage claimable by the Company against the Member.

Article 23 Special Exception for Foreign Users

The Company may restrict the Member, who has the permanent resident other than that of Hong Kong, from the use of the Service in whole or in part pursuant to related laws applicable in connection with this Service.
If any Member, who has the permanent resident other than that of Hong Kong, uses the Service, the Member should use the Service in a manner consistent with the laws of the country and orders of the government of the country, which are applicable in connection with the use of the Service. In the event that the Member with the permanent resident other than that of Hong Kong uses or is likely to use the Service in a manner that contravenes this Article, the Company may restrict the Member from the use of the Service in whole or in part.

Article 24 Dispute Handling Procedure

The Company sets forth the procedures (hereinafter referred to as “Dispute Handling Procedure”) separately for reflecting fair opinions or complaints presented by the Members in respect of the Service and for making compensation for damage caused to the Member in connection with the Service.
The Company discloses to the Members the method for accepting the disputes (including the details related to appointment of dispute handling officer and dispute handling manager, and their contact information), dispute handling procedures (which are specified for handling simple complaints and for compensation requirements, separately), and details pertaining to notification to the Members on the results of dispute handling.
The Member, who has disagreement or objection over the Service handling, may demand the dispute handling organization (dispute handling officer and dispute handling manager, etc.) of the Company for resolution of concerned issues. The Company conducts investigation into such matters and notify the Member of the results within the ‘period of handling’ specified referred to in Clause 2.
The Company posts the details related to dispute handling officer, dispute handling manager, their contact information, etc., on the website of the Company and keeps such details up-to-date.

Article 25 Indemnification of The Company

The Company will not be liable for the damage related to any of the cases specified below. In such cases, the Company notifies the Members of such fact by posting concerned details on the Cashmallow App or Cashmallow Homepage or by other means.
(1) If any damage was caused due to the force majeure event such as fire, earthquake, flood, lightning, war, riot, insurrection, national emergency, natural disaster, etc.
(2) If any damage was caused without the fault of the Company due to DDoS (Distributed Denial of the Service) attack, IDC failure, telecommunication the Service failure, system malfunction and disablement
(3) If service failure is occurred unavoidably due to defective communication service, regular server inspection performed by infrastructure provider or other similar causes.
The Member should indemnify and hold harmless the Company at the responsibility and cost of the Member from and against any objection, including, without limitation, any thirty party claim or litigation, which is raised to the Company by any third party other than the Member as a result of the Member’s misconduct or breach of these Terms & Conditions or any laws in the course of use of the Service.
The Company will not be responsible for the failure of the Service or the consequences which were caused with the fault of the Member, except to the extent that the Member has a legitimate reason.

Chapter 7. Miscellaneous

Article 26 Issuance and Explanation of Terms and Conditions

If the Company changes these Terms and Conditions, the Company will disclose the revised Terms and Conditions through the Company’s website etc.
When the Company enters into a contract related to small amount overseas remittance business with the Member, these Terms and Conditions and the revised Terms and Conditions are applied.
The Company reserves the right to edit the Term and Conditions in sole discretion. The company is entitled to review and edit the Terms and Conditions at any time. Customer shall read and accept the effective Terms and Conditions at the time before browsing our Website. Customer is deemed to have accepted the Terms and Conditions once browsing our Website or using any services. Your continued use of the Website following any such modification, shall be deemed acceptance of such modification and you are thereby bound by all such modification.
When the Member requests an explanation of the contents of these Terms and Conditions, the Company must explain the important contents of these Terms and Conditions to the Member in either one of the following ways:
(1) Directly explaining the important contents of these Terms and Conditions to the Member; or
(2) Delivering the explanation of the important contents of these Terms and Conditions in an easy-to-understand manner for the Member through an electronic device, and receive an expression of intention that the Member has sufficiently recognized the content through the electronic device.

Article 27 Retention of Transaction Records

The Company retains the records of transactions for five (5) years, which occur under these Terms & Conditions, in accordance with the money service operator business regulations under the Money Services Operators Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance.

Article 28 Governing Law & Competent Court

These Terms & Conditions and the Service Use Contract executed between the Company and the Member are governed by and construed in accordance with the laws of the Hong Kong. Any dispute, arising in connection with these Terms & Conditions and the Service Use Contract, should be referred to and settled by the court specified by the laws of Hong Kong and related laws as the court of the first instance.

Article 29 Relationship with Related Applicable Laws

Matters not specified in these Terms and Conditions or individual terms and conditions should be dealt with in accordance with the money service operator business regulations under the Money Services Operators Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance thereof, etc. and other related laws and regulations.

Addendum

(Date of Effectiveness)
These Terms & Conditions take effect from 3rd December, 2020.