Berg Business Account Customer Agreement
PURPOSE OF THIS AGREEMENT
This Agreement sets out the terms and conditions governing the Electronic Money Services and Foreign Exchange provided by Berg Money to You and Your use of those services.
These together with our Privacy and Cookies Policies, all other policies govern our company and all terms and conditions referred to therein, establishes the legal relationship between You and us. This Agreement contains 30 sections listed below. The headings are for reference only. Included is the list of Definitions and Terminologies (in Section 3 below), to assist You while reading this Agreement. Underlined words in this Agreement contain hyperlinks to further information.
We strongly recommend that You read and retain a copy of this Agreement for Your records, so that You may refer to it at your convenience. For this purpose, we have made a copy of it available to you in a Durable Medium. We will notify You if and when we make any changes to this Agreement, providing you with an updated copy for your records on each occasion, as applicable. In addition, the latest version will always be available to You to view on our website at https://berg.money/business.
ACKNOWLEDGEMENT AND ACCEPTANCE
By choosing to open a Berg Money Account and/or transact with us, You acknowledge and accept this Agreement and affirm that You fully understand and accept these Terms and Conditions without reservation. Should there be anything contained herein that You do not fully understand, please contact us for further information and/or take independent legal advice from a qualified solicitor or other competent authority.
DEFINITIONS AND TERMINOLOGIES
- “Account Profile” means Your account profile accessible via the Client Portal on the Website and our mobile application (App).
- “Agreement” means these general terms and conditions forming the Agreement.
- “App” means the mobile application software, the data supplied with the software and the associated media.
- “Authorities” includes any judicial, administrative, public or regulatory body, any government, any Tax Authority, court, central bank or law enforcement body, or any of their agents with jurisdiction over Berg Global Limited.
- “Berg Money” means a trading name of Berg Global Limited, a company incorporated in England and Wales, (company number 14048523) whose registered address is 3-8 Bolsover Street, London W1W 6AB, England. Berg Money means the trading name of Berg Global Limited. In these and in PayrNet’s terms we, us, Berg Global Limited and Berg Money have equal meaning.
- “Berg Money Account” means Your Berg Money account, whereby You benefit from the Berg Money Services and make Berg Money Transactions.
- “Berg Money Services” means the provision of access to the Client Portal through the Website, followed by the completion (independently or through our operators) of transactions according to the list of services presented in section Berg Money Services hereof.
- “Berg Money Transaction” means any inbound or outbound financial transaction (including card transactions) related to Your Berg Money Account.
- “Business Day” means a day on which commercial banks are open for business in England excluding Saturdays, Sundays, and bank holidays.
- “Chargeback” means a Client payment that is reversed by the bank.
- “Client” means a customer, together with (if relevant) its subsidiaries, affiliates, successors and/or assignees, as well as where relevant its officers, directors, employees, and agents, who has registered, opened, and been approved for a Berg Money Account.
- “Client Bank Account” means a bank account owned by You.
- “Client Bank Transfer” means a transfer to and from Your bank account into Your Berg Money Account.
- “Client Portal” means an electronic resource owned by Berg Money and accessible via the Website or mobile app, which provides access to Berg Money Services. You must activate an Account Profile to gain full access to the Client Portal.
- “Compliance Obligations” means obligations of Berg Global Limited to comply with Laws, regulations, international guidance, internal policies or procedures, requests and/or demands from Authorities such as reporting and/or disclosure obligations and laws requiring us to verify the identity of our customers and carry our customer and transactional due diligence.
- “Confidential Information” means any and all information of whatever nature or form that is disclosed (whether in writing, verbally or otherwise), obtained or created, under or in connection with these Terms, which is of a confidential or proprietary nature including the following information relating to any of the parties: (i) information regarding their business, affairs and business plans; (ii) price lists, pricing structures, sales and marketing plans; (iii) information about employees, officers and other personnel; (iv) information about current and prospective clients, customers and suppliers; (v) know-how, trade secrets, inventions, products, operations, processes, product information and unpublished information relating to Intellectual Property Rights and (vi) any other commercial, financial or technical information.
- “Contract Year” means the period of one year from the date on which Your Subscription Plan starts and each anniversary of such date.
- “Counterparty” means any party that receives funds from or sends funds to Your Berg Money Account.
- “DPA” means the Data Protection Act 2018.
- “Durable Medium” means a medium which allows You to store information in a way accessible for future reference for a period of time adequate for the purpose of the information and which allows the unchanged reproduction of the information stored.
- “Electronic Money” (e-money) means an electronic store of monetary value that exists in banking computer systems that may be used to facilitate electronic transactions.
- “EMD agent” means a person/entity who provides payment services on behalf of an electronic money institution (as defined in the EMR 2011). Berg Global Limited is an EMD agent and authorised to provide associated payment services alongside PayrNet Limited e-money account services.
- “EMI” means electronic money institution.
- “Exchange Rate” means the exchange rate set by Berg Money in accordance with Berg Money internal policy.
- “FCA” means the Financial Conduct Authority of the United Kingdom, which is located at 12 Endeavor Square, London, E20 1JN, United Kingdom; more information about the FCA can be found on the official website https://www.fca.org.uk/.
- “FCA Rules” means the FCA Handbook or rules and guidance.
- “Financial Crime” means money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, evasion of sanctions (economic or trade), and/or any acts or attempts to circumvent or break any Laws relating to the services provided under this Agreement.
- “Fees” means the fees for the Subscription Plans as set out here: https://berg.money/business
- “Force Majeure Event” means any event or sequence of events beyond a party’s reasonable control and which prevents it from, or delays it in performing its obligations, including; (a) actions or restrictions of the government or state bodies; (b) any cause or event arising out of or attributable to war, revolution, civil commotion, terrorist activity (or threat thereof); (c) labour dispute including strikes, industrial action, lockouts or boycott; (d) an act of God, fire, explosion, flood, storm, earthquake, or other natural disaster which causes significant destruction, including to infrastructure systems; (e) power outages, blockages, or internet or telecoms failure; (f) any epidemic or pandemic, including the COVID-19 pandemic and compliance with any applicable governmental guidelines designed to prevent the spread of the relevant disease; (g) bank delays, mail delays, failure or delay of any electronic transmission.
- “Insolvency Event” means in relation to You, Your subsidiaries, affiliates, successors and/or assignees, as well as Your officers, directors, employees and agents:
- a party proposes a voluntary arrangement within the meaning of Section 1 or Section 253 of the Insolvency Act 1986; or
- a party proposes or is subject to any arrangement or restructuring plan under Part 26A of the Companies Act 2006; or
- an interim order is made in relation to it under Section 252 of the Insolvency Act 1986; or
- any other steps are taken or negotiations commenced by it or any of its creditors with a view to proposing any kind of composition, compromise or arrangement involving it and any of its creditors; or
- a party is deemed to be unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986; or
- a party calls a meeting for the purpose of passing a resolution to wind it up, or such a resolution is passed; or
- a party presents, or has presented, a petition for a winding up order; an application to appoint an administrator is made in respect of a party or a notice of intention to appoint an administrator is filed in respect of a party; or
- a party has an administrator, administrative receiver, or receiver appointed over all or any part of its business, undertaking, property or assets; or
- a party takes any steps in connection with proposing a company voluntary arrangement or a company voluntary arrangement is passed in relation to it; or
- a party ceases, or appears in the reasonable opinion of the party wishing to terminate likely to cease, or is threatening to cease, to trade; or
- a party suffers or undergoes any procedure analogous to any of those specified above.
- “Instruction” means any instruction or request given email, trough Berg Money Client Portal or an app relating to the execution of Berg Money Services.
- “Intellectual Property Rights” means all intellectual property rights in whatever media whether or not registered including: copyright, database and compilation rights, patents, trademarks, service marks, trade names, domain names, goodwill, designs, all other industrial commercial or proprietary rights and any applications for the protection or registration of those rights and all renewals, revivals and extensions existing in any jurisdiction.
- “Laws” means any local or foreign law, regulation, judgment, court order or sanctions regime.
- “Online Service” means all the services available to You on our platform (website and the app), accessed via internet, including but not limited to setting up, registering an account with us, accessing Your account, initiating payments, viewing transactions history etc.
- “Restricted Countries” means countries in or from which You cannot trade, be managed and/or owned by other entities and from which You cannot send or receive money. Restricted Countries are listed in Appendix 2, such list may be updated from time to time and is Your responsibility to keep Yourself informed about any updates.
- “Security Credentials” means without limitation, a username, password, items of memorable information and any other security requirement we may require from time to time.
- “Subscription Plan” means one of the two types of subscription plan available to You (Basic and Plus as set out here: https://berg.money/legal/schedule-of-fees
- “Terms” means these Berg Money Terms and Conditions including any appendices, annexes, schedules, as may be amended from time to time.
- “Third Party Bank Transfer” means the receipt of funds into Your Berg Money Account from a third party or an outgoing transfer by You from Your Berg Money Account to a third party.
- “Website” means https://berg.money/business.
- “You” means a company customer who has agreed to these Terms and Conditions.
These Terms and Conditions set out the general terms and conditions for Your use of Berg Money Services and are between You and Berg Money. No other terms or conditions apply except as may be stated by us.
Before You use Berg Money Services, You must:
- read these and the PayrNet Terms and Conditions found here https://www.railsr.com/terms-of-use
and accept and agree to both sets of terms by ticking the relevant box on creating an Account Profile.
- provide Berg Money with such documentation, photographs and information as we may reasonably request to comply with our regulatory obligations, as well as all applicable laws including laws against money laundering, terrorist financing and other prohibited activities.
By accepting these Terms and Conditions, You agree to and accept our Fees.
By accepting these Terms and Conditions, You also agree to the terms of our third party service providers. Berg Money is not responsible for and expressly disclaims all warranties of any kind with respect to third-party content, products and services unless otherwise set forth in an applicable agreement between You and Berg Money.
Access to the Berg Money Services is subject to You (i) fulfilling the requirements set out in these Terms and Conditions and (ii) passing our internal verification procedures.
Where the information provided by You to Berg Money at Section General, point (ii) is no longer accurate, You undertake to immediately notify Berg Money of this in writing to [email protected] and will at the same time provide Berg Money with details of the updated information. Berg Money will not be liable for any losses arising from Your provision of any invalid, incorrect or inaccurate information.
Where Berg Money believes, or has reason to believe, that the information provided by You to Berg Money at Section General, point (ii) is inaccurate, Berg Money has the right to immediately cease providing the Services to You and terminate any agreement with You. Berg Money will not be liable for any costs or losses incurred by You in connection with the cessation of the Berg Money Services and any agreements with You.
Berg Money may, at any time, request additional information reasonably required to provide Berg Money Services or to comply with Berg Money obligations under these Terms and Conditions or any applicable law.
The Issuance of Electronic Money and payment services is provided by PayrNet Limited (PayrNet), a company incorporated in England and Wales, (company number: 09883437) whose registered office is at 138 Holborn, London, EC1N 2SW, UK.
PayrNet is authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 (register reference number 900594) for the issuing of Electronic Money. PayrNet has appointed Berg Global Limited (Berg Money) as a Distributor. As such, Berg Money is authorised to provide associated payment services alongside PayrNet’s e-money account services.
Berg Money brings You the Client Portal which enables You to access Your money. Berg Money does not hold Your money but collaborates with PayrNet Limited, who provide a "Safeguarded" e-money account where Your funds are held (Your account). Your agreement with PayrNet is listed here: PayrNet Terms and Conditions.
Berg Money is subject to the Payment Services Regulations 2017.
BERG MONEY SERVICES
Berg Money provides the following services for working with Electronic Money:
(i) exchange of Electronic Money;
(ii) bank transfer of Electronic Money;
(iii) receiving Electronic Money to Your Berg Money Account; and
(iv) redemption of Electronic Money.
Exchange of Electronic Money is the use of one electronic currency to purchase another electronic currency. The Exchange Rate is used for exchange calculations. The currencies of Electronic Money that You purchase and store in Your Berg Money Account are limited to the list of currencies presented on the Client Portal. The list of available currencies is subject to change. Berg Money is under no obligation to notify You of such changes. You must check this list regularly on the Client Portal. The Exchange Rate will depend on the amount of Electronic Money You want to use for purchases and the amount of Electronic Money You want to buy. The total cost of the transaction will be shown to You after completing all the required information. After You have read all the information, You need to confirm the transaction, for this You must click the “exchange” button. Berg Money strongly recommends that You carefully read the information about the general cost of the transaction before You confirm it. Berg Money is not responsible if You incur losses or do not get the expected result, as a result of not reading all relevant information before the transaction. For the information about the cost of the Electronic Money exchange transaction, please refer to the Fees clause listed on our website: https://berg.money/business
Electronic Money bank transfer is the process of transferring money from Your Berg Money Account to a Counterparty’s account, with or without a simultaneous conversion. A request for a bank transfer of Electronic Money is made through Your Berg Money Account. You are solely responsible for the correctness of the details that You must indicate. Berg Money recommends that You carefully check all the details before clicking on the confirmation of the transaction. Any mistake in these details means that Your transfer will not take place or will be delayed. Berg Money is not responsible for any losses incurred by You due to incorrect input of the details necessary for the transfer. In addition, Berg Money strongly recommends that You familiarize Yourself with the information about the cost of the scheduled transaction, which will also be indicated in Your Berg Money Account after entering all the necessary data for the transaction You have chosen. In the process of making a transfer You will also need to confirm the entered data sent to Your mobile phone by the Berg Money two-factor authentication system. Electronic Money bank transfer can be with a simultaneous conversion or not, depending on whether the types of Your currency and the currency that Your counterpart has to receive. If it is necessary to perform an exchange operation to complete a transaction, the exchange will be carried out at the Exchange Rate. You need to familiarize Yourself with the cost of such a transaction, taking into account the payment for the exchange and only after this, You can confirm Your transaction. Berg Money notifies You that it is not possible to revoke an Electronic Money transfer transaction after it has been confirmed. After the completion of the transaction, all the initial data on it will be reflected in Your Berg Money Account in the “transaction history” section.
If Electronic Money was not credited to the account You specified for any reason and was returned to Berg Money, it will be converted into the Electronic Money currency from which it was originally withdrawn. In this case, due to exchange rate differences, the amount of money that will be credited to Your Berg Money Account may differ from the original amount both upwards and downwards. Berg Money is not responsible and is not obliged to compensate for any types of losses that You may have in such cases. For the information about the cost of the Electronic Money transfer transaction, please refer to the Fees clause of these Terms and Conditions.
Funding an Electronic Money account is a procedure for increasing the amount of Electronic Money stored in Your Berg Money Account, by bank transfer from Your Berg Money Account or from a third party account. Berg Money has the right to set a limit on the amount of funds that can be transferred to Your Berg Money Account at one time. Berg Money also has the right to set a limit on the total amount that can be held in Your Berg Money Account. To lift this restriction, You must provide us with any additional information we request.
For all successful transactions, Berg Money provides virtual receipts and they will be reflected in your personal account in the “Transaction History”section.
Berg Money offers Business accounts. In order to use the e-money services offered by Berg Money You are required to register a Berg Money Account. During the registration process You may be required to provide information about Yourself and Your company. You agree that the information You provide to us is accurate and that You will keep it accurate and up-to date at all times.
Berg Money reserves the right to decline or reject the opening of Berg Money Account in our sole discretion and for any reason whatsoever.
Confirmation of successfully creating a Berg Money Account will be sent to the email address You provided on registration and through Your Berg Money Account.
Once Your Berg Money Account is created, this will be active until Berg Money Services are completed or the Terms are terminated by either party.
GETTING TO KNOW YOU
In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 we are required by law to carry out all necessary security and customer due diligence (CDD) checks on any individual who owns or controls (in each case whether directly or indirectly) shares or voting rights of more than 25% or who exercises ultimate control over the management of a corporate entity or otherwise controls the entity. You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, You agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information You provide to us, including checking commercial databases or credit reports. You authorise us to obtain one or more of Your credit reports, from time to time, to establish, update, or renew Your Berg Money Account with us and/or in the event of a dispute relating to this Agreement and activity under your Berg Money Account.
We may conduct enhanced due diligence (EDD) on You where appropriate (including Directors and Ultimate Beneficial Owners) and reserve the right to make reasonable requests for further information if there is reasonable cause to do so.
You agree to cooperate with all requests made by us or any of our third-party service providers on our behalf in connection with your Berg Money Account, to identify or authenticate Your identity or validate Your funding sources or Berg Money Transactions. This will also include verifying the identity of any of Your Directors, partners and/or Ultimate Beneficial Owners (UBO).
We reserve the right to close, suspend, or limit access to your Berg Money Account and/or the Berg Money Services in the event we are unable to obtain, verify such Information or You do not comply with our requests under Getting To Know You section of these Terms and Conditions.
You must notify us immediately and in any event within two (2) Business Days of any changes to Your Directors or Your Ultimate Beneficial Owners.
We have a duty to monitor our customer relationships on an ongoing basis and reserve the right to do this periodically. This may require us to make requests to You for information. You agree to comply with all reasonable requests for information relating to our ongoing monitoring obligations.
You confirm that neither You nor (where applicable) any of Your Directors or Beneficial Owners are:
(i) listed on or targeted by a list of specifically designated or targeted persons, including without limitation, the Consolidated List of Financial Sanctions Targets (Asset Freeze Targets and Investment Ban Targets lists) maintained by HM Treasury, the consolidated list of persons, groups and entities subject to EU financial sanctions, the Specially Designated Nationals and Blocked Person list (SDN) maintained by OFAC, the Entity List maintained by the US Bureau of Industry and Security, the UN Security Council Consolidated List or any similar list of persons subject to comprehensive assets freezes or similar measures maintained by any other relevant jurisdiction (a "Designated Person"); and/or
(ii) owned or controlled by, or (to your knowledge) acting on behalf, or at the direction, of, any person listed on any of the lists referred to at (i).
YOUR BERG MONEY ACCOUNT
Your Berg Money Account allows You to perform online payments (send and receive), initiate bank transfers, cross-border transfers, foreign exchange services, manage cards and hold electronic money in your Berg Money Account.
You may transact in any currencies that we support from time to time.
Certain limits may be placed on Your Berg Money Account depending on verification checks or other legal considerations. Please contact us if You have any questions about these limits.
The electronic money held on Your Berg Money Account belongs to the legal entity, which is registered as the Berg Money Account holder.
Unless You have our (Berg Money) consent in writing, You must not allow anyone to operate Your Berg Money Account on Your behalf.
By using our services You will be able to obtain information relating to the balance and transactions on Your Berg Money Account.
When activating our services, You will be asked to set up Your unique Security Credentials and any other security requirements we may require from time to time.
We may change the minimum specification required to access Online Services and make operational changes to and alter the services currently available, at any time. We will always notify You of such change by either placing a message on our website, through the mobile app or by emailing You.
We may suspend the ability for You to access the Berg Money Account if it conflicts with applicable laws or if we reasonably believe it is necessary for security reasons. We may ask You to change or update Your Security Credentials at any time and You agree change or update Your Security Credentials if we ask You to.
It is important that You take care when issuing any Instructions. You will be liable for all Instructions made when using Berg Money Services including instances of any misuse, fraud or abuse by You or where You have disclosed Security Credentials to a third party.
You are responsible for obtaining, maintaining and ensuring compatibility of Your own equipment when using Berg Money Services.
We will not be responsible for any loss of or damage to Your data, software, computer, telecommunications or other equipment caused by Your use of any of Berg Money Services unless such loss or damage is directly and solely caused by our negligence or deliberate default.
You are responsible for ensuring that Your equipment is free from viruses and other malware and we will not be responsible for any losses incurred by Your failure to do this.
We are not able to guarantee that Your access to any of the Berg Money Services will be uninterrupted, continuous or error free.
We shall use reasonable endeavours to keep all Berg Money Services free from viruses and corrupt files but we cannot guarantee that they will be free from infection by viruses or anything else with contaminating or destructive properties.
You must not misuse any Berg Money Services by knowingly introducing viruses, Trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to any of the Berg Money Services or any server, computer or database connected to Berg Money Services. You must not attack Online Services via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, You would commit a criminal offence. We may report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing Your identity to them. In the event of such a breach, Your right to use any and all Berg Money Services will cease immediately. We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect Your equipment.
CLIENT PORTAL AND ACCOUNT PROFILE
The Client Portal is designed so that our clients can independently use the Berg Money Services with maximum convenience, efficiency and security.
The Client Portal consists of user business accounts. After activating Your Berg Money Account, all Your personal data will be available in Your Account Profile. Changes to the information we hold on You will also be made through Your Account Profile, after You provide documents confirming the changes that have occurred. Also, Your Account Profile will set out detailed information about Your Berg Money Transactions. On Your Account Profile there is a functionality that allows you to make all Berg Money Transactions to which You have access to.
Berg Money has the right to restrict, suspend and even close Your access to Your Account Profile in the cases specified in Sections Confidentiality, Closing Your Berg Money Account and Termination of the Terms and Conditions, as updated from time to time.
Berg Money once again recalls the need to support up-to-date information. You are obliged to ensure that Your contact details are valid, as we may contact You regarding this Agreement and Your obligations hereunder, and/or Berg Money Services by e-mail and/or phone. Given the electronic nature of Berg Money business and online platform, by agreeing to these Terms and Conditions, You confirm that You have regular stable access to the internet and e-mail and are able to store and retrieve information sent to You by electronic means in an accessible Durable Medium.
If Berg Money has reasonable suspicions that Your information is not accurate, Berg Money may request additional information and/ or make for a second check. Berg Money is not liable for any losses incurred due to Your late update or inaccurate update of information.
You must take all reasonable measures to ensure the security of Your personal data, as well as to prevent unauthorised use of Your Berg Money Account, including:
(i) logging out of the Client Portal when not in use;
(ii) keeping antivirus software up to date and using anti-spyware software and a personal firewall to keep Your personal computer secure
(iii) using a strong password;
(iv) regularly changing Your password;
(v) not storing Your passwords in easily accessible places;
(vi) not disclosing or allowing use by others of Your log-in or password;
(vii) creating a separate email address for Berg Money correspondence;
(viii) not accessing Client Portal from any computer or mobile device connected to a wireless or local area network (LAN) such as a public internet access device;
(ix) not accessing Berg Money website from a link in an email and entering Your security details, always accessing Client Portal via https://berg.money/business; and
(x) being sure that You know the person or the company You are sending money to.
In the event that You receive communication requesting that You provide personal data or other information relating to Your access to the Client Portal after Your Berg Money Account is activated, do not provide this information and immediately contact Berg Money customer support service via the Client Portal or at: [email protected].
(i) You must immediately notify Berg Money customer support service by contacting us using any of the communication channels available.
(ii) You have reason to believe or suspect that Your personal data has become known to third parties; or
(iii) Your devices that You used to access Your Berg Money Account have been stolen, or lost.
Berg Money Transactions are processed automatically, so any third party gaining access to Your personal data or Berg Money Account may use this to conclude Berg Money Transactions without Your permission. Berg Money is not liable in any way if such transactions cause You any damage and shall not be liable for any costs or losses (whether direct or indirect) suffered by You in connection with such transactions.
If You dispute that You have carried out a Transaction we will investigate and shall expect You to co-operate with us and local law enforcement in any investigation.
RESTRICTIONS OF THE USE OF YOUR BERG MONEY ACCOUNT
You must not use Berg Money Services in the following circumstances:
(i) for any illegal purposes, including fraud, money laundering, sponsoring terrorist and other prohibited organizations. In the event that Berg Money reasonably believes that any Berg Money Transactions are being carried out in order to achieve such goals, Berg Money has the right to block such Berg Money Transaction. Berg Money will report any suspicious activity to the relevant law enforcement or regulatory authorities, providing them with all the necessary information, even where this relates to personal data;
(ii) in violation of any applicable law;
(iii) to evade restrictions or obligations imposed by law or established by third parties;
(iv) in breach of any copyright, patent, trademark, trade secrets or any other intellectual property right or confidentiality obligations;
(v) where Your use contributes, or is likely to contribute, to the incitement of racial or religious hatred, intimidation, threats of any nature or other infringement of the rights of the individual;
(vi) for the purpose of debt collection;
(vii) for currency trading for speculative purposes;
(viii) where You are, or You are controlled or associated with, other entities or individuals who have participated in any of the prohibited activities specified in Appendix 1;
(ix) in violation of these Terms or any agreement with Berg Money;
(x) where Your use may lead to complaints, disputes, cancellations, chargebacks, fees, fines or other negative obligations to Berg Money on the part of third parties or on Your part;
(xi) where You have a negative account balance;
(xii) where Your actions pose a threat to the Berg Money system’s performance, including deliberately creating a disproportionately large load on the Berg Money infrastructure; the spread of any viruses or other malicious computer programs that threaten the Berg Money system’s performance.
(xiii) any unauthorized monitoring or copying of any part of the Berg Money Client Portal;
(xiv) where Your actions result in, or may result in, reputational loss for Berg Money, or may cause negative consequences in the form of losses to suppliers, employees and / or supplying organizations;
(xv) for the creation of multiple accounts;
(xvi) where You have used personal data of other individuals;
(xvii) to harass Berg Money employees, agents or customers, including with the intention of persuading them to take illegal actions. Where Berg Money becomes aware of such behaviour, Berg Money will immediately report You to the police;
(xviii) where You have refused to provide any additional information reasonably requested by Berg Money; or
(xix) where You take any other actions, which may have substantially similar effect to those actions listed in this Section Restrictions Of The Use Of Your Berg Money Account.
FINANCIAL TRANSACTION RESTRICTIONS
Berg Money reserves the right to block or reject any financial transaction if it is deemed to be in violation with these or PayrNet’s Terms and Conditions or any applicable law. Berg Money shall not be liable to You for such restriction.
SUSPENSION OF BERG MONEY SERVICES
Berg Money reserves the right to change, suspend or terminate the operation of the Client Portal or the Berg Money Services at any time when deemed necessary by the circumstances, including but not limited to, where PayrNet changes, suspends or terminates its own services to You in accordance with the PayrNet Terms and Conditions, without prior notice and without any obligation to You, including where PayrNet suspends or terminates its service in accordance with its terms.
Berg Money shall not be in any way liable to You for such actions or inactions and shall not cover any damages or losses, which may occur owing to such actions or inactions of Berg Money or any third party.
Suspension or termination of one or more Berg Money Services may mean that You are unable to access funds or otherwise use the Services. Please ensure that You have ready access to alternative funds or means of payment.
FUNDS RECEIVED BY YOU IN ERROR
In any event that qualifies for compensation or reimbursement (including any technical errors of Berg Money staff or technical failures in the Client Portal or Berg Money systems that caused or causes funds to be mistakenly credited to Your Berg Money Account), Berg Money is entitled to collect any such erroneously received amount. It can be withheld as a whole or partially, as a single or as a repetitive transaction – until the full amount of the erroneous transfer to the Berg Money Account is reimbursed. The withholding is carried out on any transaction, including in the following ways at the discretion of Berg Money:
(i) the required amount is withheld in whole or in part from the amount that You have transferred to Berg Money in any other Berg Money Transaction;
(ii) Berg Money will initiate a refund for a Berg Money Transaction that resulted in a negative balance in Your Berg Money Account or an erroneous receipt of funds into Your Berg Money Account;
(iii) Berg Money has the right to contact a debt collection agency, legal firms, or to take legal actions if no other means of obtaining a compensation is possible. At the same time, Berg Money reserves the right to charge all costs that would reasonably be incurred in connection with the above steps.
If the amount to be debited is in a currency other than the currency held in Your Berg Money Account, the funds will be converted automatically at the current Exchange Rate. Berg Money is not required to notify You of the need for an exchange transaction.
Berg Money is not responsible where:
(i) Berg Money Transactions are made in error by You or caused by You. Berg Money will take all reasonable steps to return the funds relating to such Berg Money Transaction for an additional fee. Berg Money may also withhold the equivalent of fees charged by intermediary banks and / or the recipient’s bank for their assistance in the process of tracking and returning Your funds;
(ii) the recipient of Your Berg Money Transactions is a fraudster or a participant in other illegal actions, or other events occur that do not allow You to cancel Your Berg Money Transactions, or complete it in the manner intended.
(iii) the actions or inactions of the recipient of Your funds have caused You any damages. Berg Money will provide You with full information about the time of the Berg Money Transaction when requested in writing by You;
(iv) there is a delay or failure to comply with any of its obligations under these Terms and Conditions, where such delay or failure is caused by a Force Majeure Event;
(v) losses incurred by You as a result of obligations imposed on Berg Money by the Payment Service Rules 2017 or the Electronic Money Rules 2011, or by our obligations under the laws of any country in the European Union, England and Ireland;
(vi) the incorrect functioning or disruption of the Client Portal or Berg Money Services, delays or interruptions in the provision of the Berg Money Services, damage caused by the penetration of viruses or other malicious software, which occurred when accessing the Client Portal or Berg Money Services has caused You any losses.
In the event of a transaction using Electronic Money (electronic money exchange or currency exchange), it is Your responsibility to make Yourself aware of any restrictions on Your liability in relation to unauthorized or incorrectly performed payment transactions set forth in the Payment Services Regulations 2017 do not apply for losses of this type.
You shall fully indemnify and keep Berg Money fully indemnified against all liabilities, claims, actions, proceedings, loss, damage, costs and expenses suffered or incurred by Berg Money, its affiliates, employees, contractors, agents and representatives in consequence or arising out of any breach or non-performance of all or any of the warranties, representations, obligations, undertakings or agreements on Your part contained in these Terms and Conditions.
You acknowledge that subject to Section Liability of these Terms and Conditions, Berg Money’s maximum aggregate liability to You under or in connection with these Terms and Conditions, however arising, whether in contract, tort or otherwise shall not, in respect of each Contract Year exceed a sum equal to [the amount of the Fees paid or payable by You in respect of that Contract Year].
Subject to Section Liability of these Terms and Conditions, neither party shall have any liability to the other whatsoever, whether such liability arises in: contract; tort (including negligence); breach of statutory duty; or otherwise for any:
- direct or indirect
(a) loss of profits;
(b) loss of business;
(c) loss of contract;
(d) depletion of goodwill or similar losses;
(e) loss of revenue;
(f) damage to or loss or data; or
- any special, exemplary, or indirect or consequential loss or damage, even if that party has been advised of the possibility of such damages or losses arising.
Nothing in this Agreement shall limit or exclude liability for: personal injury or death caused directly by negligence; fraudulent misrepresentation or fraud or any other liability to the extent such liability may not be excluded or limited as a matter of law.
CUSTOMER SUPPORT AND COMPLAINTS
Berg Money is responsible for monitoring and improving the quality of the Berg Money Services. For constant communication with You, Berg Money has a dedicated customer support service. If You have any questions or problems of a technical nature, You need to contact our support service for the corresponding request by e-mail [email protected], or by sending a request through the built-in service on the Client Portal. Your request will be considered as soon as possible and You will receive the answer to the email address registered with Your Berg Money Account, or through the built-in service on the Client Portal. To reduce the processing time for Your request, Berg Money ask You to describe the problem that You have encountered as clearly and fully as possible and indicate Your current contact information.
In the event that You need a copy of these Terms and Conditions or any documents listed in Schedule 4 of the Payment Service Regulations 2017 and Appendix 4 of the 2017 Payment Services Rules, You can also send a corresponding request to Berg Money customer support. The requested documents will be sent to You as soon as possible.
If You have any complaints about Berg Money Services or any services from the employees of Berg Money, please send such a request to a special e-mail box at the following address: [email protected]. Berg Money will consider each complaint sent to this address in accordance with the approved grievance procedure. If You need to obtain a copy of this document, You must send a request to customer support.
Berg Money aims to consider all complaints within 15 to 35 working days (depending on the complexity of the situation). The persons authorized to prepare a response to Your complaint may contact You for additional information if necessary. If the response to Your complaint does not satisfy Your requirements or expectations, You have the right to contact with the Financial Ombudsman Service.
You can submit a complaint in writing to the Financial Ombudsman at the Financial Ombudsman Service (FOS), https://www.financial-ombudsman.org.uk/faqs;
Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by phone at 0800 023 4567 (a free call if the call is made from a landline phone) or 0300 123 9123 (recommended for calls from a mobile number) or 44 20 7964 0500 (this number is recommended to be used by persons who are outside England and Ireland).
You are fully responsible for complying with all relevant tax legislation. Berg Money is not responsible for late or incomplete payment of taxes, incorrect submission of tax returns, or the correct calculation of the amount of tax payments. Nothing in these Terms and Conditions should be construed as comments or advice from Berg Money on how to comply with Your tax regime.
NOTICES AND COMMUNICATIONS
Berg Money notifies You and You agree to receive correspondence in electronic form, which will be sent to Your e-mail and/ or to Your Berg Money Account.
Any changes concerning the complaint services or rules, regulatory changes and other important information are published on the Website and sent out vie e-mail to the primary email address registered to Your Berg Money Account. Physical address dispatch of this information is not provided.
Berg Money is not responsible if You did not timely familiarize Yourself with the changes that are essential for provision of Berg Money Services.
In order to avoid disputes and possible losses, You are obliged to regularly review the Client Portal, as well as the e-mail address You gave for Berg Money correspondence.
You are also required to review Your notifications and Berg Money Transaction history and immediately report any questions, obvious errors, or unauthorised transactions to Berg Money support team at [email protected].
Berg Money once again draws Your attention to the fact that delay in contacting the support team may lead to the loss of funds, important rights or other losses, the risk of which lies entirely with You.
In case of changes in Your contact information, You are obliged to immediately inform Berg Money about it at [email protected]. You are solely responsible for keeping Your personal information of Your Berg Money Account Profile up to date.
Where legislation requires Berg Money to provide information to You on a Durable Medium, we will send You an email (with or without attachment) and/or notification to Your Berg Money Account pointing You to information on Website in a way that enables You to retain the information in print format or other format that can be retained by You permanently for future reference. Do keep copies of all communication Berg Money sends or makes available to You.
This Agreement is made in the English language. Documents and communications will be in English.
AMENDMENTS TO THESE TERMS AND CONDITIONS
Berg Money will notify You of proposed unilateral amendments to these Terms and Conditions on Berg Money’s part. Berg Money will notify You about upcoming changes to these Terms and Conditions at least one (1) month in advance. If You do not agree with the changes, You must inform Berg Money in writing before the changes come into force. If Berg Money does not receive such written notice from You, Berg Money will deem that You accept all amendments. If You notify us of Your disagreement with the changes, this notice is considered a notice of termination of these Terms and Conditions and these Terms and Conditions will be considered terminated from the moment the amendments take effect.
The closure of Your Berg Money Account and the return of the balances of Fees will be made in accordance with the procedure set forth in Section Closing Your Berg Money Account.
If the amendments are made in connection with the requirements of the law or in connection with the addition of a new service or the new functionalities, as well as in the event of a decrease in the Fees or other changes, which does not reduce Your rights and does not increase Your obligations, they take effect immediately. Berg Money doesn’t have any obligation to notify You of such changes.
The Fees for Berg Money Services are set out on our webpage: https://berg.money/business You should always familiarize Yourself with them before making any Berg Money Transaction. We will notify You in advance of any changes to the Fees via e-mail. Berg Money strongly recommends that You keep track of the information coming to Your e-mail address in a timely manner.
Berg Money will start to collect the monthly subscription Fees after You fulfil the requirements specified in Section General, as well as after Berg Money internal verification of the accuracy of the information You provided.
Berg Money collects account opening and monthly maintenance fees from Your account balance in Your Berg Money Account. The collection of these fees is made in pounds sterling. If Your Berg Money Account does not have enough funds in pounds sterling but there are funds in other currencies or electronic means of payment, Berg Money will carry out the exchange operation using the Exchange Rate.
Berg Money reserves the right to suspend Your access to the Berg Money Services in case of delay in payment of the Fees. The suspension of the Berg Money Services does not relieve You of the obligation to pay all sums owed to Berg Money.
Berg Money does not guarantee that the Berg Money Services will run smoothly and without errors. Berg Money is not responsible for any interruptions in the Berg Money Services, including system failures or interruptions that may affect the receipt, processing, execution, completion or settlement of Berg Money Transactions.
Berg Money is not responsible for goods or services paid for using Berg Money Services.
Berg Money’s Intellectual Property Rights belong directly to Berg Money or are licensed to Berg Money from their respective owners and licensors.
Berg Money expressly reserves all Intellectual Property Rights and Your use of the Client Portal and the Berg Money Services are subject to the following restrictions:
(i) You must not copy any Beg Money Intellectual Property Rights, except where such copying is incidental to normal use of the Client Portal or the Berg Money Services;
(ii) sub-licence or otherwise make available the Berg Money Intellectual Property Rights in whole or in part (including any object and source code), in any form to any person without Berg Money prior written consent;
(iii) remove any copyright or other proprietary notices contained in any materials provided by or belonging to Berg Money;
(iv) use any materials in any manner that may infringe any of Berg Money’s Intellectual Property Rights or the intellectual Property Rights of a third party;
(v) use any Berg Money materials in any way that might be illegal or breach these Terms;
(vi) reproduce, modify, edit, display, perform, publish, distribute, disseminate, broadcast, frame, communicate to the public or circulate to any third party or exploit the Berg Money Intellectual Property Rights, Client Portal and/or any Berg Money materials in any way for any commercial purpose, without Berg Money prior written consent;
(vii) disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the Berg Money Intellectual Property Rights or attempt to do any such thing; or
(viii) use the Berg Money Intellectual Property Rights or Berg Money materials in any way that is in contravention of any applicable law or regulation, or in any manner that will violate the privacy, publicity or personal rights of others or in any defamatory, obscene, threatening, abusive or hateful material, including without limitation using the Berg Money Intellectual Property Rights or any Berg Money materials in connection or association with any obscene, defamatory, illegal, pornographic material or in relation to products and services that relate to firearms, gambling, pharmaceuticals, pornography or tobacco or otherwise than in accordance with normal standards of decency.
Nothing in these Terms and Conditions shall be used as permission to use the Berg Money Intellectual Property Rights in whole or in part without Berg Money’s prior written consent.
Berg Money prohibits any actions that can be used to change any Berg Money Intellectual Property Rights in whole or in part, including digital rights, the means of protection are used by Berg Money for the security of the Client Portal. Any attempt to make changes will be considered an infringement of Berg Money Intellectual Property Rights. Responsibility for compensation of any kind damage arising as a result of such actions is entirely on You.
By asking Berg Money to provide You with the Berg Money Services under these Terms and Conditions, You will be providing information which includes personal data within the meaning of the DPA, which Berg Money as a data controller, collect, store and process in accordance with the principles of the DPA.
Berg Money keeps a record of all of Your personal data, as well as information about Your Berg Money Transactions. This information could be passed on to state bodies and financial institutions, if it will be necessary or required at law. Berg Money as well could use all this information for the purposes of internal audit, including to monitor compliance with these Terms and Conditions.
When You provide Your mobile phone number in any possible way (filling out a questionnaire, filling out a profile in Your Berg Money Account on the Client Portal, etc.), You automatically agree to receive information messages related to our business relationship that have arisen as a result of signing these Terms and Conditions in any available format, including SMS, MMS, voice messages, etc. We will not use the number for personal or marketing purposes.
Berg Money notifies You that any telephone conversations with employees of Berg Money may be recorded without prior notice to You. The recording of the conversation Berg Money performs, among other things, for the purpose of quality control of the services provided to You, for conducting internal audits, for staff training, as well as in order to ensure its interests in case of disputes. At the same time, Berg Money notifies You that our company does not permanently record all company calls. This procedure is carried out selectively and is carried out on an ad hoc basis. Thus, Berg Money cannot provide You with any specific telephone conversation recording at Your request. Berg Money also notifies, You about the limited storage period of phone call records and cannot guarantee You that they will be saved or restored after the expiration of the storage period for such records, You that Berg Money uses information You have provided and information about Your Berg Money Transactions for statistical research and analytical reports. Information about You as a Berg Money client can also be used as an advertisement for our Berg Money Services. You agree that Berg Money may share Your information to our partners – agents, distributors, suppliers. In addition, Berg Money informs You about the possible review of Your Berg Money Accounts in order to improve the operation of the Berg Money Services and technical improvement of Berg Money information resources.
Berg Money informs You that Berg Money also accumulates information about how You and other customers use the Berg Money Services, including the type of service requested, the date and time the service was provided, the amount charged and other related transaction details.
By signing these Terms and Conditions, You agree to all actions with Your data and personal information described in this clause, except where prior written consent is required.
You warrant and undertake that You will respect and preserve the confidentiality of all Confidential Information.
You will not without Berg Money express prior written consent, communicate or make available the Confidential Information to any third party and/or use the Confidential Information for any purpose, other than strictly as necessary for the performance of Your obligations under these Terms and Conditions.
At our request, You will immediately return all physical materials containing any Confidential Information in Your power, possession or control and so far as is practical, delete all copies from any electronic store, disc or memory.
You acknowledge and agree that if the terms of this Section Confidentiality are breached, damages would not be an adequate remedy and equitable remedies (such as specific performance or an injunction) would be appropriate.
You may disclose Confidential Information which would otherwise be subject to this Section Confidentiality, only to the extent that You can demonstrate that:
(i) such disclosure is required by law or by any securities exchange or regulatory or governmental body having jurisdiction over it wherever situated and whether or not the requirement has the force of law, provided that any such disclosure shall not be made without prior notice to the party from whom the Confidential Information was obtained;
(ii) the Confidential Information was lawfully in Your possession prior to its disclosure (as evidenced by written records) and had not been obtained from us; and
(iii) the Confidential Information has come into the public domain other than as a result of Your breach of Your obligations under this Agreement.
The restrictions contained in this Section Confidentiality shall survive the termination or expiry of these Terms and Conditions.
CLOSING YOUR BERG MONEY ACCOUNT
Your Berg Money Account may be closed due to termination of the Terms and Conditions, as provided in Section Termination.
After the closure of Your Berg Money Account, Your personal data and information about Your Berg Money Transactions will be retained for six (6) years. By accepting these Terms and Conditions, You consent to the storage period for Your personal data and account information for this period.
If there is a balance on Your Berg Money Account at the time of closing, You agree to withdraw Your funds within a reasonable time, during which Your Berg Money Account will be used for the purpose of withdrawing the balance only. After the closing of Your Berg Money Account, You cannot access the rest of Your Berg Money Account but You can withdraw any remaining funds within six (6) years from the account closure. To do this, You will have to contact Berg Money support service at [email protected]. The remaining funds will be transferred to the account specified by You in writing, which must be in the company’s name and with a recognised institution. We will need to confirm that this account belongs to You by requesting bank statement or any other documentation which proves that You are the owner of this bank account.
At the same time, any fees or charges applicable to Berg Money for carrying out the services in clause will be deducted from the amount due to be returned to You. An account closure fee of £100 will be applied as set out in the Fees Schedule. If You do not transfer the remaining funds within two weeks after we inform You about the account closure, Your Berg Money Account will be charged a monthly fee of £60 for each following month of keeping Your remaining balance in the account. We will send You reminding emails every month.
You may not close Your Berg Money Account to evade an investigation. If You attempt to close Your Berg Money Account while Berg Money is conducting an investigation, it may freeze the Berg Money Account.
You will remain liable for any obligations related to Your Berg Money Account, even after it is closed.
Berg Money may terminate these Terms and Conditions at any time by giving You one (1) month's written notice. Notification will be sent to You in writing through the Client Portal and/ or to Your e-mail. The notification is considered delivered from the day it is sent by the specified method. In this case, Berg Money is not obliged to notify You of the reasons for the termination of the Terms and Conditions.
You may terminate these Terms and Conditions at any time by giving Berg Money two (2) months’ written notice. Notification must be sent in writing through the Client Portal and to [email protected]. The notification is considered delivered from the day it is sent. Berg Money does not require You to indicate the reason for the unilateral termination of the Terms and Conditions.
These Terms and Conditions may be terminated by either party immediately in the following cases:
(i) the other party has committed a material breach of any provision of these Terms and Conditions which is irremediable (or, if such breach is remediable, the other party fails to remedy that breach within 15 working days after receiving written notification of such breach);
(ii) the other party repeatedly violates any provision of these Terms and Conditions;
(iii) the other party suffers an Insolvency Event;
(iv) the state of one of the parties has adopted a law or an amendment to the existing law, the content of which prohibits any of the parties from carrying out the types of activity covered under these Terms in full or in part, or other authorized bodies have adopted or amended the existing regulatory and administrative documents, as a result of which further interaction of the parties without violation of such regulatory and administrative documents becomes impossible.
These Terms and Conditions may be terminated by Berg Money immediately in the following cases:
(i) the information You provide cannot be verified and confirmed in the prescribed manner;
(ii) co-operation with You causes reputational or other damage to Berg Money, or adversely affects the operation of Berg Money software, other technical functionality that Berg Money uses in its activities;
(iii) You do not take reasonable and timely measures to eliminate the violations committed within the time frame established for this;
(iv) You repeatedly allow a negative account balance (more than once);
(v) Berg Money is no longer able to serve You due to the actions/ inaction of a third party or for technical reasons;
(vi) PayrNet terminates its agreement with You under the PayrNet Terms and Conditions.
Berg Money also has the right to partially terminate or suspend the provision of one or more Berg Money Services, if You breach these Terms and Conditions. In the event of a partial termination or suspension of the provision of Berg Money Services to You, Your e-mail address will be sent the information with an indication of the time when You must remedy this breach.
In the event of termination due to a violation of the law, information on the revealed facts of violation of the law will be transferred in the appropriate regulatory body and/ or state department or to law enforcement agencies.
Termination of these Terms and Conditions for any reason means the closure of any of Your Berg Money Accounts.
The procedure for returning the balances on Your account/accounts will be carried out in accordance with the provisions of Section Closing Your Berg Money Account.
Termination or expiry of these Terms and Conditions shall not affect:
(i) the rights or liabilities of either party accrues prior to and including the date of termination or expiry; and/or
(ii) the continued existence and validity of the rights and liabilities of the parties under those clauses that are expressed to (or by implication are intended to) survive termination or expiry.
TRANSFER AND ASSIGNMENT
You cannot transfer, assign or sell the rights, received by You in accordance with these Terms and Conditions to the third parties.
Berg Money reserves the right to transfer or assign all of its rights and obligations under these Terms and Conditions to any third party. Such transfer of rights or assignment shall only take place if this will not significantly affect Your rights under the Terms and Conditions or if this necessary for legal or regulatory purposes. This does not affect Your rights to close Your Berg Money Account under the Section Closing Your Berg Money Account. In the event that we assign our rights in accordance with this clause, You agree to the transfer of all relevant funds held for You to the assignee.
GOVERNING LAW AND JURISDICTION
In the event that disagreements arise between the parties, the parties will first seek to resolve them through good faith negotiations.
If the negotiations do not resolve the dispute within 28 days, the parties have the right to go to court.
Subject to Section Governing Law and Jurisdictions, the parties irrevocably agree that the courts of England and Wales will have exclusive jurisdiction to settle any dispute which may arise out of or in connection with this Agreement.
These Terms and Conditions and any dispute or claim arising out of or in connection with them shall be governed by and construed in accordance with the laws of England and Wales.
OTHER IMPORTANT TERMS
If any provision of the Terms and Conditions is recognized as invalid, such provision is excluded from the Terms and Conditions, while the Terms and Conditions themselves do not lose their legal force.
These Terms and Conditions are bilateral and are not intended to provide services to third parties, nor can they impose any obligations on third parties.
In case of receipt of executive documents (judicial or tax) at the address of Berg Money, Berg Money will take off funds requested in such documents in an indisputable manner. Berg Money will send You messages about such take off to Your e-mail and in Your personal account on the client’s box.
Berg Money will in accordance with the Regulations provide, make available, communicate and inform You of certain information relating to Electronic Money Services provided by Berg Money. Berg Money will do this in accordance with the Regulations and where applicable in a Durable Medium. Your attention is drawn to Section Client Portal and Account Profile, where You confirm that You have regular access to the internet and email and that You are able to store information sent to You by email and other electronic means in a Durable Medium.
Berg Money independently determines the order of work of the Client Portal. Berg Money has the right, at its discretion, to change the Client Portal appearance, to carry out periodic modernization, rebranding and other procedures that it deems necessary.
Berg Money has the right to suspend the operation of the Client Portal for a reasonable period, in case of need for technical work. Messages about such works will be published on the Website, personal mailing about this are not provided.
Berg Money notifies You that it does not provide consulting services, does not issue any recommendations, does not assess Your activities or Berg Money Services in relation to Your activities. The statistical and/ or analytical information that Berg Money publishes on the Client Portal is not a recommendation or guide for building Your business models. These articles are for informational purposes only. Berg Money is not responsible for the use of this kind of information in Your activities.
Berg Money does not bear any responsibility and does not give advice on the choice of services to achieve Your goals. You must independently assess the feasibility of performing this or that action when using Berg Money Services.
Berg Money also does not bear any responsibility for fluctuations in currency exchange rates. You have to make a choice of currencies for storing Your funds or making transactions and You accept this responsibility Yourself.
All Berg Money Services contemplated by this Agreement are provided on an execution-only basis.
Any amends or supplements to these Terms and Conditions are considered incorporated within them.
This is the current list of Restricted Activities for which the Distributor Business may not be used:
(a) to facilitate any illegal purpose, or in violation of any national, or international law, including, without limitation, laws governing intellectual property, taxation and other proprietary rights and data protection and privacy;
(b) to send or receive fraudulent funds;
(c) in a manner that results in or may result in Complaints, disputes, reversals, chargebacks, fees, fines, penalties and other liability to Payrnet, a third party or you;
(d) to collect or contribute money for something that may be deemed harmful, false, misleading, unlawful, obscene, defamatory, libellous, threatening, pornographic, harassing, hateful, or racially or ethnically offensive;
(e) to control an account that is linked to another account that has engaged in any of the foregoing activities;
(f) to collect payments that support pyramid or ponzi schemes, matrix programs, other “get rich quick” schemes or certain multi-level marketing programs;
(g) to sell or provide:
(i) items that may infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
(ii) items that require a license, reseller's permit or franchise agreement to sell;
(iii) “payday loans” or other lending services;
(iv) items that may be counterfeit including but not limited to: designer handbags, clothing and accessories and consumer electronics;
(v) items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
(vi) items that encourage, promote, facilitate or instruct others to engage in illegal activity;
(vii) items that promote, support or glorify acts of violence or harm towards self or others;
(viii) drugs or drug paraphernalia;
(ix) activities that involve gambling or a prize draw;
(x) items that are obscene or pornographic.