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Terms of Use

Terms of Use

Terms and Conditions
  1. Payment against this remittance is subject to laws prevailing in either countries, i.e. UAE, or the payee country at the time of application and payment of remittance proceeds. The customer understands and accepts that Wall Street Exchange Centre LLC shall not be liable for any anticipatory loss or loss of profit, special consequential, punitive, exemplary, incidental, or indirect damages of any kind resulting from any delay /non-payment/ under-payment or non-delivery.
  2. Wall Street Exchange is not responsible for any incorrect information in the application once the remittance is released by cashier. Wall Street Exchange reserves the right to charge the customer for any change done thereafter.
  3. In case of courier drafts, it I understood by the customer/applicant that while Wall Street Exchange shall take responsible steps as necessary to ensure the delivery of draft, the courier is sent on behalf of and at the sole risk of the customer/ applicant. No liability is undertaken by Wall Street Exchange on account of non-delivery, wrong delivery, misplacement, damage, loss, or confiscation of the couriered document.
  4. In case the DRAFT/TT remains unpaid, the customer can only reclaim the value thereof at the Exchange's buying rate of the day when the refund takes place, or the original rate at which the transaction was made, which ever is lesser. The reclaim shall only be for the principle amount (excluding charges) and will not exceed the original amount paid by the customer.
  5. Any claim of refund cannot be effected until:
    • The customer produces a valid ID to prove that he is the remitter and
    • The customer returns the original DD/TT application counterfoil and
    • The Exchange has received definite advice from their correspondents that the DD/ TT is unpaid and th e original instructions have been cancelled and
    • If such delay/ non-payment is not due to any of the following circumstances:
    • If through no fault of the Exchange, i.e. if the customer does not have enough collected funds to make the transfer,
    • If circumstances beyond the control of the company (including but not limited to the acts of Force Majure and/ or technical computer breakdowns, and / or Computer Virus within our company and/or any correspondent) delay the transfer, despite the maintenance of reasonable procedures by the exchange to avoid such delays. Computer Virus within our company and/or any correspondent delays the transfer, despite the maintenance of reasonable procedures by the exchange to avoid delays.
    • If the Exchange has not received proper authorization and notices.
    • If the Exchange had\s been prevented from doing so by the court order, or other Governmental actions of originating institution /correspondent institution/paying institution.
  6. The customer confirms that funds for this remittance are made available from legal sources, allowed as per the UAE laws. This remittance is not used to finance any kind of terrorism/ money laundering activity.
  7. This remittance is committed to applicable due diligence measures advised by the Central Bank of the UAE. The Customer undertakes to provide further relevant support details/ documents if required during course of future audits/ investigations.

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