Applicable Laws means the laws, regulations, policies, guidelines, rules and requirements (whether or not having the force of law) in the relevant jurisdiction governing Merchantrade and/or the User (as may be applicable), including but without limitation to Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, Money Services Business Act 2011, Personal Data Protection Act 2010 and shall include such other requirements that Merchantrade stipulates from time to time.

Branch Collection means collection of purchased Foreign Currency by the User at Merchantrades selected locations and at the time and date as specified by Merchantrade in the eForex System.

eforex or eForex or Services collectively refers to an online money changing service offered by Merchantrade which facilitates Users purchase of Foreign Currency at prevailing exchange rates.

eforex System or eForex System means Merchantrades proprietary online money changing/money exchange system accessible by the User via the Website or mobile devices or such other electronic devices which are capable of supporting the eForex Services application for the purposes of carrying out the Transaction.

FPX refers to Financial Processing Exchange, a national online payment gateway, which is jointly developed by financial institutions and is owned by the Malaysian Electronic Payment System (MEPS).

Loss includes loss, damage, claim, costs, subscription fees, charges, damages and/or expenses of whatsoever nature without limitation arising from contract, tort, equity or any other principles of law or legal theory (including any loss of profits, lost of savings, loss of data, loss of opportunity, loss of goodwill, special, incidental, punitive or exemplary losses and consequential damages ) and howsoever arising whether direct, indirect, joint, several, actual, contingent or otherwise (including legal fees on a full indemnity basis), and includes without limitation claims made by third parties and claims for defamation, infringement of intellectual property rights, death, bodily injury, wrongful use of computers and unauthorised or illegal access to computers (including but not limited to hacking), property damage or pecuniary losses howsoever arising.

Merchantrade refers to Merchantrade Asia Sdn Bhd (Co. No: 410591-T), a company incorporated under the laws of Malaysia with a corporate office at Suite 1632, 16th Floor, Lobby 7, Block A, Damansara Intan, No. 1 Jalan SS20/27, 47400 Petaling Jaya, Selangor Darul Ehsan and includes its successors and assigns.

Privacy Notice means Merchantrades policies and principles pertaining to the collection, use and storage of personal information of the User as may be amended from time to time and made available in

Password means an alpha-numeric access code with at least one (1) uppercase, one (1) lowercase, alpha-numeric and one (1) special character opted by the User with a minimum of eight (8) characters for the purpose of gaining access to the eForex System to:-

(a) Access the Users Account to carry out money exchange transaction.

(b) Initiate change in address, view previous transaction records and ascertain status of current transaction.

(c) Perform such other acts as permitted by eForex System from time to time.

Premium Delivery Service means delivery services provided by Merchantrade for Foreign Currency purchased by the User subject to (i) availability of the Premium Delivery Service, (ii) payment of Service Charge by User, and (iii) User meeting the minimum Transaction value as determine by Merchantrade from time to time.

Rate Table means a table displaying foreign exchange rates vis–vis RM within the eForex System and are subject to change from time to time by Merchantrade according to the prevailing market condition.

Rate Alert means an inbuilt feature in the eForex System which allows User to receive an auto email alert should his preferred preset foreign currency rate against RM corresponds with the eForex System rate at any given time.

Service Charge collectively refers to fee, charges, costs, expenses, etc. as determined and imposed by Merchantrade upon User in circumstances described under clause 3.1.

Travel Reminder means an inbuilt feature in the eForex System which allows the User to preset reminder trigger to his designated email address registered within the eForex System for his future Foreign Currency purchase date.

User/You/Your means a person, any corporation, partnership, limited liability Company, Association or any other entity of any kind, including currency wholesalers, money changers, banks licensed by the Central Bank of Malaysia, or any government or governmental agency or authority, whose application for the Services has been accepted and registered with Merchantrade.

Users Account refers to the facility provided to the User upon registration for identifying the User of the Services and for accessing the Services including Transaction records.

(a) reference to a particular gender shall be deemed to include a reference to the other gender.

(b) reference to singular shall include the plural and vice versa.

(c) reference to word include or including, wherever appearing in these Terms shall be read as if the word without limitation is inserted thereafter.

A Visitor who accesses the Website or avail the Services acknowledges that he may be violating the Applicable Laws and agrees to be solely and absolutely liable for any liabilities arising therefrom and undertakes to indemnify Merchantrade against any Loss incurred by Merchantrade pursuant thereto.

(a) Premium Delivery Service subscribed by the User through the eForex System where the Service Charge shall be deemed forfeited in the event of unsuccesful delivery of the purchased Foreign Currency due to an act or omission of the User.

(b) Purchase of Foreign Currency which remains uncollected by the User for more than fourty five (45) days from the intended collection date for purchased Foreign Currency.

(c) Change to Branch Collection location for collection of purchased Foreign Currency at Users request.

(d) Change to the collection date for purchased Foreign Currency at Users request.

(e) Request made by the User for an early collection of the purchased Foreign Currency via Branch Collection or Premium Delivery Service subject to the availibility of such services.

(f) Request made by the User on the Users prefered denomination for the purchased Foreign Currency subject to availibility of such denomination.

With reference to clause 3.1, the User confirms and acknowldges that the Service Charge amount is subject to be revised by Merchantrade from time to time at its sole and absolute discretion.

User warrants that all particulars and information provided to facilitate approval and registration for Services are true, accurate, current, complete and not misleading and the User undertakes to forthwith notify Merchantrade of any changes to the personal particulars supplied by the User, in writing, by way of prepaid registered post, e-mail and by producing original identification documents for verification at any of Merchantrades branches.

User undertakes to indemnify Merchantrade, its employees, directors, officers, representatives, affiliates, subsidiaries and agents for any Loss caused to Merchantrade arising from the User providing untrue, inaccurate, out-of-date, incomplete or misleading information or particulars.

User shall take all such measures and steps as may be necessary (including but not limited to changing Users password from time to time) to protect Users password and to prevent unauthorised use of Users Account or unauthorised disclosure of Users password. User acknowledges that it is the Users sole and absolute responsibility to maintain secrecy and confidentiality of the Users password and the User shall be fully and absolutely liable for all transactions and activities that occur under the Users username and password including unauthorised use and misuse.

User shall notify Merchantrade either in writing or by way of email through the Users designated email, if the User becomes aware of, or reasonably believe that, there is any unauthorised use of the Users Account or any other breach of security, and to co-operate with Merchantrade in all such investigations. This shall include (i) unauthorised usage of username and password; (ii) receipt by User of any transaction confirmation and/or such other activities that User did not authorise; or (iii) any inaccurate information in Users current Transaction or transaction history.

User shall be responsible and liable for any third party gaining access to the eForex System through the use of the Users username and password, and in such event, the User shall hold Merchantrade, its employees, directors, officers, representatives, affiliates, subsidiaries and agents harmless against any Loss arising from any such unauthourised access. Any transaction and/or activity arising from usage of the Users username and password will be deemed the Users transaction and/or activities, and Merchantrade is under no obligation whatsoever to verify authenticity of such transactions and/or activity.

User shall take all such measures and steps as maybe necessary to ensure that at the time of receiving the Foreign Currency from Merchantrade whether by way of Branch Collection or Premium Delivery Service, that any such Foreign Currency is (i) fit and recognised as legal tender for transactions; (ii) genuine currency notes; and (iii) correct in terms of currency, amount and denominations and verified against the order receipt. Upon the Users acknowledging receipt of the Foreign Currency, Merchantrade will not be liable for any claims by the User for fake/forged Foreign Currency, shortage in amount or incorrect Foreign Currency denominations.

(a) the User shall refund any amount of Foreign Currency in excess of the purchased Foreign Currency as per order receipt upon demand by Merchantrade within fourteen (14) days from the order receipt.

(b) if the User is unable to receive the purchased Foreign Currency on first instance by way of Premium Delivery Service due to the Users default and if the User requests for a subsequent Premium Delivery Service, the User shall be subject to the Service Charge for each Premium Delivery Service by Merchantrade at its sole discretion.

(c) the User shall adhere to such requirements, process and procedure stipulated in the eForex System for the Services.

(d) for Branch Collection/Premium Delivery Service made by/to any other persons other than the User, then the User shall furnish Merchantrade with necessary details of such recipient through the eForex System. Merchantrade reserves the right to refuse collection of the purchased Foreign Currency by any person other than the User without assigning any reason thereto. User is not entitled to nominate any person to collect/receive Foreign Currency purchased unless:- (i) the amount transacted is equivalent to RM20,000 and below; and (ii) the User has been cleared of Customer Due Diligence requirements imposed by Merchantrade.

(e) Merchantrade reserves sole and absolute discretion to determine and impose limits for the transactions performed through eForex System whether in amount, frequency or otherwise e-Forex End-User Agreement in accordance to the Applicable Laws and that Merchantrade reserves absolute rights to vary such limitations subject to requirements/amendments to the Applicable Laws.

(f) Merchantrade may restrict, decline or refuse Users request for carrying out Transaction at any time at Merchantrades sole discretion without assigning any reasons thereto.

(g) Merchantrade shall only comply to the laws of Malaysia for the implementation and/or use of the Services.

(h)the User must specify in the relevant column/field provided in the eForex System, the Users source of fund and purpose of each Transaction.

(i) Merchantrade may rely on the registration information provided by the User to Merchantrade. Any errors in the information provided by the User for the Transaction shall be at the Users sole responsibility and risk. The User undertakes to hold Merchantrade harmless from all losses and damages arising from any Merchantrades act or omission in reliance upon any such erroneous information.

(j) without limitation, the User must maintain an internet banking facilities account with FPX participating local bank(s) in Malaysia to use this Service.

(k) the Rate Alert and Travel Reminder features are provided on reasonable effort basis. Merchantrade will not be liable for any Loss arising from failure of Rate Alert and Travel Reminder functions whether or not such failure results from Merchantrades or any other parties willful default, negligence or mistake.

(l) in addition to these Terms, the Services is subject to availability of FPX services. FPX is a separate legal entity and use of FPX services is subject to terms, requirements and restrictions imposed by FPX, and charges FPX imposes on the User. Merchantrade is neither liable nor responsible for any Loss incurred by the User or any other person arising from the Users use of the FPX services. User shall ascertain and update himself of such applicable terms, requirements and restrictions imposed by FPX.

(m) all charges imposed by FPX pursuant to any Transaction initiated by the User pursuant to or incidental to these Terms shall be borne by User.

(n) the currency and/or currency denominations requested by User through the eForex System is subject to availability of such currency and/or currency denominations by Merchantrade and the Applicable Laws.

Any cancellation of Transaction by the User must be initiated through the eForex System within 3 hours after the Transaction is performed. The refund arising from such cancellation will be credited by Merchantrade via online transfer to the Users designated bank account (limited to commercial banks in Malaysia) within fourteen (14) bank business days. Such cancellation shall be subject to Service Charge.

User is not permitted to cancel any Transaction after a lapse of 3 hours from the time a Transaction is sucessfully performed through the eForex System.

In the event the User fails to collect the purchased Foreign Currency after a lapse of 45 days from the intended collection date, the RM amount received from the User will be transfered to Merchantrades unclaimed moneys account and will be subject to Merchantrades Policy on unclaimed moneys.

Merchantrade reserves sole and absolute discretion to decline any Transaction performed by the User without assigning any reasons thereto. In such event, Merchantrade shall refund the RM e-forex End-User Agreement amount received to the Users designated bank account (limited to commercial banks in Malaysia) within fourteen (14) bank business days from the date the Transaction is declined. Merchantrade will not be liable for any charges, costs or expenses of whatsoever nature (including FPX or bank charges) incurred by the User in relation to such Transaction.

(a) use the Services in any way which will deprive other User(s) of their legitimate right to use the Services.

(b) use the Website for unlawful purposes in any jurisdiction or in breach of these Terms.

(c) use the Services for any unlawful or illegal activity or in breach of any Applicable Laws.

(d) modify, copy, distribute, reproduce, transmit, display, perform, publish, upload, post, license, create derivative works from, transfer or sell any information, designs, logos, trademarks, software or services obtained from the Website.

(e) post or transmit any unlawful, fraudulent, libelous, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, offensive, or otherwise objectionable information or statement of any kind without limitation, any information or statement constituting or encouraging conduct that would tantamount to criminal offence, give rise to civil liability and/or violates any Applicable Laws.

(f) post or transmit any messages that amount to advertising material, touting or sale of, or offer to sell, any product or service.

(g) transmit or disseminate advertising material, chain letters, spam, junk mail or other type of unsolicited messages.

(h) post or transmit or disseminate viruses, worms, Trojan horses or other harmful, disruptive or destructive files.

(i) post, publish, transmit, reproduce, distribute, or in any way exploit any information, software or other material obtained from or through the Website for commercial purposes.

(j) attempt to decompile or reverse engineer any software available in the Website.

(k) attempt to hack into the Website or otherwise attempt to subvert any firewall or other security measure of the Website.

In the event the Website contains bulletin boards, chat rooms, access to mailing lists or other communication facilities, you are only to send and receive messages that are proper and related to the particular subject forum/purposes only.

User shall comply with and shall not contravene Applicable Laws, without limitation laws of such jurisdiction relating to the use of the Services.

The Services is only available in Malaysia. If for any reason User uses the Services outside Malaysia, Merchantrade may not support the Services and Users use of the Services is at the Users own risk including the risk that the use thereof violates local laws in the country/jurisdiction.

Merchantrades liability to the User under these Terms is strictly limited to refund of the full RM amount received from the User by Merchantrade for the purchase of the Foreign Currency (excluding charges, costs or expenses of whatsoever nature including FPX or bank charges the User may have incurred) in the event Merchantrade fails to avail collection or delivery of the purchased Foreign Currency to the User (subject always such failure is not contributed by any act or omission of the User).

Except for Merchantrades refund obligation under clause 7.1, under no circumstances Merchantrade will be liable for any Loss to the User whether or not such Loss is due to willful act, omission, neglect, default or non-performance on the part of Merchantrade, its directors, shareholders, employees or agents or such other person(s)/entity(ies) engaged by Merchantrade to facilitate the Services.

Subject to and without prejudice to clause 7.1 and clause 7.2 or any other provision under these Terms to the contrary, Merchantrades cumulative liability for all losses, claims, suits, controversies, breaches or damages for any cause whatsoever (including, but not limited to those arising out of or related to this Agreement) and regardless of the form of action or legal theory SHALL NOT EXCEED RM100-00.

Without limitations to Clause 7 of these Terms, Merchantrade shall not be responsible or liable for any Loss incurred or suffered by the User or any third party arising from:-

(a) Users inability to perform any of the transactions due to limits set by Merchantrade from time to time; or

(b) any intrusion or attack by any person or party on any hardware, software, the eForex System through the internet, mobile, tablet devices and/or such other electronic devices (capable of supporting the eForex Services application) including but not limited to viruses, Trojan Horses, malware and /or macros or other harmful components or disabling devices that may suspend, disrupt or disable the eForex System or any part thereof.

Due to the inherent hazards of electronic distribution, User agrees and accepts that Services may be unavailable from time to time due to required maintenance, electronic or other systems failures or interruptions (whether of Merchantrade or any third party) or other disruptions. Merchantrade, its suppliers and their respective affiliates, officers, distributors and employees shall not be liable to the User for any Loss suffered by the User as a result thereof. Merchantrade does not guarantee that Services will be uninterrupted, secure, error-free, free from viruses or other harmful components.

Merchantrade cannot and does not endorse or review, and cannot be responsible for, the messages, views, opinions and recommendations of third parties, User and organisations of deemed interest. Merchantrade does not advocate any commercial dealings in any third party products or investments. The inclusion in Services of a link to other web site(s) or resources does not imply any form of endorsement by Merchantrade. Any User seeking recourse shall do so against such party providing such advice, products or services. However, Merchantrade requires all Users to comply with all relevant laws, as well as the rules set out in the Website, and ensure that the law and the rules are observed and complied with. Without limitation, User acknowledges that Merchantrade is not responsible for the privacy and confidentiality of any personal information provided by the User to the other linked websites in any manner whatsover.

Merchantrade reserves absolute discretion without notice to the User, to introduce changes to the features appearing in the Website from time to time without limitation to add, modify or remove such features.

In amplification to any provisions of these Terms, Merchantrade does not guarantee storage of any data stored by the User in the eForex System and excludes all liability for loss of data.

User shall indemnify Merchantrade, its directors, officers, its suppliers, their employees, subsidiaries, related corporation, associates, distributors and affiliates against any and all Loss suffered by Merchantrade, its directors, officers, its suppliers, its employees, subsidiaries, related corporation, associates, distributors and affiliates to any person as a result of any breach of these Terms.

All notices are deemed served on the User immediately after it is posted on the Website or sent to the Users designated e-mail address (despite evidence to the contrary) as set out in the Application Form or to the amended e-mail address as provided by the User within the eForex System.

Merchantrade shall not be responsible to the User for any delay in performance or non-performance due to causes beyond the control of Merchantrade (including but not limited to Acts of God, devaluation of major currencies, non-availibility of currencies, Governmental mandates or Laws).

If any legal proceeding arising out of or connected with the use of the Services is instituted by Merchantrade, the User agrees that the process by which such proceedings are begun and other court documents which require service shall be deemed to have been given if served on the User and/or personally or sent to him by prepaid ordinary post accompanied by a Certificate of Posting or left at the address stated in the his Application Form or at the Users usual or last known business or private address. Any such Writ of Summons or originating process sent by post shall be conclusively deemed to have been received by the User within three (3) days after the date of such posting despite evidence to the contrary. The User further agrees that Merchantrade may at its own absolute discretion institute such legal proceedings in Malaysia or in any other place whose courts have the jurisdiction to hear and determine any such legal proceedings.

These Terms between Merchantrade and the User shall be deemed to have been made and executed at Merchantrade office in Petaling Jaya and any breach of the terms and conditions stated herein shall be deemed to have arisen in Petaling Jaya irrespective of where the User may reside, carry out business or where the Transaction may have taken place.

The User hereby agrees that Merchantrades rights to the Users information and disclosure will be in accordance with Merchantrades Privacy Notice. User further consents to holding, collection and e-forex End-User Agreement use of all personal data provided by the User arising from the Services in accordance with the Privacy Notice as may be amended from time to time.

In amplification and not in derogation to clause 15.1 above of these Terms, Merchantrade reserves the right to disclose part or all information concerning the User at such time and in such manner as is permitted or required by the Applicable Laws to the relevant authorities.

Time wherever mentioned shall be the essence of these Terms and no failure to exercise and delay in exercising on the part of Merchantrade of any right, power or privilege under these Terms shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.

The applicable foreign exchange rates vis-a-vis RM are based on the latest Rate Table provided by Merchantrade and are subject to change without prior notice at Merchantrades sole and absolute discretion.

The latest foreign exchange rates shall be applicable immediately after being posted on the Website. Such rates are also accessible through mobile/electronic devices which are capable of supporting eForex Service.

If any provision in these Terms is found or held to be invalid or unenforceable, then the meaning of such provision shall be construed to the fullest extent allowed by law so as to render the provision valid and enforceable, and if no such construction is possible, the invalidity or unenforceability of such provision shall not affect the other provisions of these Terms.

Merchantrade reserves the right to vary, alter and amend any or all of these Terms herein and announce changes to its Services and to post them on Users continued use of the Services offered by Merchantrade after such variation, alteration and amendments have been posted constitutes Users agreement to be bound by them. The User shall have no recourse whatsoever against Merchantrade for any Loss as a result of such variation, alteration, amendment or otherwise.

No rule of construction applies to the disadvantage of Merchantrade as Merchantrade was responsible for the preparation of this Agreement or any part of it.

In the event these Terms are translated into a language other than English, it is done solely for convenience purpose, with only the English version of these Terms shall be valid and binding.

In the event there is conflict or discrepancy between any of the provisions of these Terms and such other terms appearing elsewhere in the Website, these Terms to the extent of such discrepancy and/or conflict shall take priority and precedence for all intents and purposes.

The titles and headings of clauses of these Terms are solely for convenience of reference and will not be used in interpreting or construing these Terms.