1.About Us

1.1. Remsea Pte. Ltd. is a Singapore private limited company (Company registration number: 201725880E), with its registered office at 230 Victoria Street, Bugis Junction Towers #15-00, Singapore 188024.

1.2. Remsea is licensed by the Monetary Authority of Singapore (“MAS”) as a Major Payment Institution (License No. 20200321) under the Payment Services Act 2019 (PSA) to carry on cross-border payment business.

1.3. Customers may obtain information about the addresses and hours of operation of the agents and local representatives by sending WhatsApp messages to this telephone number: +65 8399 6693. REMSEA can also be contacted by email sent to info@remsea.com.

2.Our Services

2.1. Remsea offers cross-border payment services nationally and internationally, merchant acquisition services under the regulated Payment Service Act. You must be at least 18 years old and resident in Singapore to use the Remsea Service. Each cross-border payment is given an individual transaction number.

2.2. By completing and consenting to the information required to make a cross-border payment and by accepting these Terms and Conditions, the Fund Originator instructs Remsea to execute a specific cross-border payment. Every individual money order constitutes a separate agreement between Remsea and the Fund Originator, which is limited to the execution of a specific cross-border payment. At no moment in time is a framework agreement concluded between Yourself and Us, which obliges Us to execute individual and subsequent cross-border payments. The Fund Originator shall inform the Beneficiary of the cross-border payment accordingly.

2.3. Subject to statutory or regulatory requirements, Remsea undertake to make funds available for collection by the Beneficiary at the latest at the end of such day following the day on which the funds were received (“Day of Receipt”). The moment of receipt is such moment when Remsea receives the funds to be transferred and the fees associated with said transfer. Account-based transfers generally take up to 5 business days, though mobile wallets are often available within minutes. For regular cross-border payment the funds are normally available for collection within minutes, subject to the business hours of the respective agent location. For some countries, the service may be delayed or other restrictions may apply. If You require further information, please contact the telephone number stated in Item 1.2 of these Terms and Conditions.

2.4. The Service provides various options to receive funds including cash at an agent location, direct to a bank account or to a mobile phone, where available.

2.5. For transactions to a bank account REMSEA will transfer the funds to the account information provided by the Sender. In the event of an inconsistency between the holder of the account number (including mobile phone numbers for mobile phone accounts) and the name of the intended Beneficiary, the transfer will be credited to the account number provided by the Sender.

2.6. Applicable law prohibits money transmitters from doing business with certain individuals or countries; REMSEA is required to screen all Transactions against lists of names provided by the governments of the countries and territories in which We do business, including the US Treasury Department’s Office of Foreign Assets Control (OFAC), the European Union and the Monetary Authority of Singapore. If a potential match is identified, Remsea researches the Transaction to determine if the name matched is indeed the individual on the relevant list. For this purpose, REMSEA is entitled to request from the Sender or the designated Beneficiary additional details and proof of identification which may cause the Transaction to be delayed. This is a legal requirement for all Transactions processed by Remsea (including transfers that originate and terminate outside of Singapore). Remsea may, in certain circumstances also be required to freeze the amount of moneys received, where any refund of moneys received would constitute a violation of any applicable law (including regulations aimed at preventing fraud, money laundering or financing terrorism).

2.7. Transfer Fees refers to information explaining how REMSEA charges the Fund Originator for making a cross-border payment is available on the Remsea Website and is shown to the Beneficiary prior to completion of the payment order.

2.8. Cross-border payment payments will normally be made in the currency of the destination country (in some countries payment is available only in an alternative currency). All currency is converted at Remsea’s then current rate of exchange. Remsea calculates its rate of exchange based on commercially available interbank rates plus a margin. Most exchange rates are adjusted several times daily in line with the relevant closing rates of global financial markets. The exchange rate applicable to your cross-border payment will be communicated to you through the designated communication channels established between you and Remsea.

2.9. The currency will be converted at the time of the transfer and the Receiver will receive the foreign currency amount shown during the transfer process. However, in some countries local regulations require cross-border payments to be converted only when they are paid out. If the Sender is sending the funds to one of these countries, the exchange rate noted above is only an estimate, and the actual exchange rate will be determined at the time of payment.

2.10. Remsea’s services are intended for use in jurisdictions where we are permitted to operate. We do not solicit or market our services in jurisdictions where our offerings may be considered unlawful or require regulatory approval.

3.Anti-Money Laundering and Counter-Terrorist Financing Obligations

Remsea adheres to strict Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) standards as required by MAS and international regulatory frameworks. Remsea will request Users to provide supporting documents such as but not limited to:

• Valid identification
• Proof of address
• Proof of source of funds and source of wealth
• Documentation validating ownership of sending or receiving accounts
• A digital wallet address over which the User has demonstrable control, such as through verification or linked custodial access

Remsea reserves the right to reject, suspend, or terminate services where compliance information is insufficient or inconsistent.

4.Our Responsibility to You

4.1. We declare Our willingness to provide to You the money transfer services and the respective information in accordance with these Terms and Conditions in the form of individual payments and to exercise reasonable care.

4.2. We do not assume any liability for:

4.2.1. goods or services which You pay for using the Remsea Service, and here in particular their delivery;

4.2.2. malfunctions in communication facilities over which We have no control;

4.2.3. the loss of data or the delay in transmissions caused by using an Internet service provider or a browser or other software over which We have no control;

4.2.4. viruses originating from third parties;

4.2.5. errors on the Remsea Site or with the Remsea Service that are the result of incomplete or wrong information that You or a third party provided;

4.2.6. the unauthorised use or interception of information prior to reaching the Website; or

4.2.7. the unauthorised use of or unauthorised access to data in conjunction with Yourself or Your Transactions which We process unless such use or such access is the result of negligence on Our behalf.

4.3. We are under no obligation towards You to initiate or execute a cross-border payment if:

4.3.1. errors on the Remsea Site or with the Remsea Service that are the result of incomplete or wrong information that You or a third party provided;

4.3.2. the unauthorised use or interception of information prior to reaching the Website; or

4.3.3. the unauthorised use of or unauthorised access to data in conjunction with Yourself or Your Transactions which We process unless such use or such access is the result of negligence on Our behalf.

We do not assume any liability for loss or damages caused to You or any third party from the non-payment or late payment of a cross-border payment to a Beneficiary or if the Service fails or declines to execute a Transaction by reason of any of these matters.

4.4. We have the right, in our sole discretion, to refuse to provide the Service to You either partially or in full or to cancel or suspend a Transaction if such use constitutes a violation against Remsea regulations (including regulations aimed at preventing fraud, money laundering or financing terrorism), these Terms and Conditions and/or against applicable law, a court order or requirements of a regulatory or government authority or any other body having jurisdiction over us or, if We consider such a step necessary to protect Our own interests. If We refused to provide the Service (partially or in full) to You for any of the above reasons, We will notify You accordingly if possible and give reasons for Our refusal unless We are prevented from doing so for legal reasons. It is a breach of these Terms and Conditions to use the Service for any Prohibited Purpose.

4.5. We may, in our absolute discretion, impose limits on the Transaction amount, either on a per Transaction basis or on an aggregated basis.

4.6. We are entitled to either partially or fully cease operating the Remsea Website or the Remsea Service if circumstances that are beyond Our control compel Us to take such action and which We therefore consider appropriate (“Force Majeure”). If the services provided on the Remsea Website or by the Remsea Service should be interrupted for whatever reason (whether by Us, a third-party provider or in any other manner), We shall take adequate measures to keep the duration of this interruption as short as possible.

4.7. Our communication with You is normally conducted via the Internet and by e-mail. However, this has no effect on Your right to contact Us in any other form (see clause 1.2 above) if circumstances require this.

4.8. Safeguarding of assets – Before depositing any assets with Remsea, you agree that:

4.8.1. the currency assets you deposited will be held by Remsea on behalf of you in a trust account with a safeguarding person;

4.8.2. currency assets will be deposited and held together with other customers of Remsea;

4.8.3. You will be exposed to the following risks:

I. Counterparty risk – you may face delays or losses in recovering your currency assets If the safeguarding person becomes insolvent

II. Operational risk – you may encounter errors in record-keeping, reporting, and reconciliation due to the complexity of managing pooled accounts

III. Liquidity risk – you may experience difficulty in liquidating assets promptly if needed

To ensure risk can be reduced to the lowest possible level where adverse outcomes are minimised, Remsea will ensure the following terms and conditions will be included in the contractual agreement with the safeguarding person; and thereby requires the safeguarding person to agree:

a. Custodial arrangements – Clear agreements on how and where the assets will be held

b. Transparency and unobstructed access to trust account(s) – Unobstructed access to assets held in custody, transactions, and valuations to provide customers with visibility into their funds. Including defined processes for customers to access or withdraw their assets, including timeframes and any associated costs.

c. Compliance with regulations – Remsea will require safeguarding person to adhere to applicable laws, regulations, and standards to ensure the safety and proper management of assets.

d. Clear dispute resolution mechanism – Define clear procedures for resolving disputes, including jurisdiction and arbitration clauses.

e. Termination clause – Provisions for the termination of the relationship, including the return of assets to customers and the transition to an alternative safeguarding arrangement.

5.Your Responsibility Towards Us

5.1. You agree and declare that You will pay to Us Our fees (see also Item 2.6 above) for every cross-border payment which You initiate via the Remsea Service.

5.2. You must settle the basic amount of a cross-border payment plus Our fees with a Your bank account. You consent to the basic amount of the cross-border payment plus Our fees for the respective Transaction that this amount is transferred from Your bank account, to Us, prior to Us executing the transfer or any other Transaction. Prior to the final authorisation of the Transaction You will be notified of the precise amount which We will debit from Your bank account.

5.3. You consent to and acknowledge the following:

5.3.1. The information provided in order to effect an online cross-border payment is true, accurate, current and complete;

5.3.2. You will provide Us with any identity, verification or further information or documents as may be requested by Us;

5.3.3. You must share the transaction data (amount of money, Your name, Your country, name of Beneficiary and Transaction ID with the Beneficiary only). You are obligated to ensure that no third party can gain unauthorised access to this information. We recommend that You transfer money only to beneficiaries that You know personally;

5.3.4. You shall not provide false, inaccurate or misleading information;

5.3.5. You shall not use any anonymizing tool that attempts to make your activities untraceable;

5.3.6. You shall not use the Remsea Service for Prohibited Purposes; and

5.3.7. Within the framework of the Remsea Service You will not request cross-border payments which violate these Terms and Conditions or any other restrictions of use or terms of use as set forth on the Remsea Website.

5.4. In the event of loss, theft, copy or the misuse of the transaction data (see above Item 4.3.2) You must immediately call +65 8399 6693 and notify Us. Until the moment when Remsea has been notified You will be liable to Us for damages resulting from the improper use of the transaction data if You have passed such information to any person other than the Beneficiary of the money payment or if You have facilitated the improper use of the payment instrument with fraudulent intent or violated Your duty of care intentionally or with gross negligence. Upon receipt of the notification by Remsea You are released of any further liability unless You contributed towards the misuse with the intent to defraud. You shall equally notify Us immediately upon learning of a cross-border payment which You did not authorise or which was executed erroneously.

5.5. You consent to and acknowledge that We may forward any particulars about You and the Beneficiary and about the services that We provided to You if necessary to regulatory or government authorities or their bodies if:

5.5.1. we are obligated by law to do so; or

5.5.2. we are of the opinion that such a disclosure may assist in the prevention of fraud, money laundering or other crimes.

5.6. It is your responsibility to ensure all details are accurate before you submit a Transaction request. Once a Transaction request has been submitted, it is not normally possible to amend details of that request. You will have the opportunity to review and confirm all Transaction details before submission.

6.Customer Service

If You detect errors or encounter problems on the Remsea Website or with the Remsea Service, please contact Us by e-mail at cs@remsea.com.

7.Disclosing Information to Third Parties

Remsea will use and process your personal information as described in Our Privacy Statement and you explicitly consent thereto. Click here for Our Privacy Statement. We are entitled to amend Our Privacy Statement at any time.

8.No Warranties

This Website is provided "as is" with all faults, and Remsea express no representations or warranties of any kind related to this Website or the materials contained on this Website. Also, nothing contained on this Website shall be interpreted as advising you. While we may use reasonable efforts to include accurate and up-to-date information on this Site, we make no warranties or representations as to its accuracy, timeliness or completeness.

We do not warrant that this Site will always be accessible, uninterrupted, timely, secure, error-free or free from computer virus or other invasive or damaging code or that this Site will not be affected by any Acts of God or other force majeure events, including inability to obtain or shortage of necessary materials, equipment facilities, power or telecommunications, lack of telecommunications equipment or facilities and failure of information technology or telecommunications equipment or facilities.

9.Liability

9.1. We are liable to You for the proper execution of the cross-border payment order in accordance with these Terms and Conditions. This means that we will refund the amount to be transferred and the service fees as stipulated by law to You if a cross-border payment failed or was faulty. Insofar as You did not authorise a cross-border payment order We shall equally refund the amount that You were charged. The requirement for Our refund liability is, however, that You did not disclose the transaction details pursuant to Item 4.3.3 of these Terms and Conditions to third parties and immediately informed Us pursuant to Item 4.4 of these Terms and Conditions as soon as You learned of the loss, theft, copying or misuse of the transaction data in respect of the unauthorised or failed execution of a cross-border payment order.

9.2. We assume liability for the execution of a cross-border payment order in the event of the fault of an employee or vicarious agent acting on Our behalf, pursuant to the provisions set forth under Singapore law. The liability of Remsea, Remsea affiliates and foreign agents is excluded for cases of negligence. This exclusion does not apply in the case of death, bodily injury or impairment of health, nor in the case of violating major contractual obligations. In the case of violating ancillary contractual obligations through negligence Our liability is limited to replacing the typical and reasonably foreseeable damage up to the maximum amount of SGD 100 (in addition to the transferred amount and the fees charged).

9.3. Every claim for damages which You assert must be substantiated with the full available and relevant documentation.

9.4. Subject to applicable law, in any event We do not assume liability for damage that is due to any unusual and unforeseeable events over which Remsea has no control and whose consequences, in spite of exercising due care, Remsea could not have avoided (caused, for example by Force Majeure, failure of telecommunication lines, civil unrest, war or other events such as industrial action or lockouts over which We have no control). This applies equally to cases in which Remsea is bound by any applicable Singapore legislation, national, court, administrative or regulatory orders stating otherwise.

9.5. Remsea shall not be held liable for any direct, indirect, or consequential losses resulting from Service interruptions or processing delays, Changes in law or regulation, Cyberattacks or data breaches involving third-party providers or Market volatility impacting digital token value.

9.6. Except in cases of wilful misconduct, gross negligence, death or personal injury You consent to no Remsea affiliate owing You any duty of care when such an affiliate assumes tasks which otherwise would have to be executed by Remsea in accordance with their contractual relationship with You.

9.7. Neither are You liable to Us, nor is Remsea liable to You for damage caused by the proper exercise of Your or Our rights pursuant to these Terms and Conditions.

9.8. Remsea does not guarantee the delivery or suitability of any goods or services paid for by means of a Remsea cross-border payment. The Sender’s transaction data is confidential to him and should not be shared with any other person other than the Beneficiary. The Sender is cautioned against sending money to any person he does not know. In no event shall Remsea be liable if the Sender communicates transactional data to any person other than the Beneficiary. Subject to applicable law, in any event Remsea shall not be liable for any indirect, special, incidental, or consequential damages. The foregoing disclaimer shall not limit Remsea’s liability for damages resulting from Remsea’s gross negligence or intentional misconduct in those jurisdictions where such a limitation of liability is void.

10.Framework for Compensating Losses

REMSEA has implemented a compensation framework to address customer asset losses resulting from proven fraud or gross negligence by the company. This framework is subject to the following conditions and limitations:

• It only covers incidents directly linked to the actions of REMSEA Financial and does not include losses caused by external factors or third-party failures.
• Customers must adhere to specified procedures for filing claims within a defined timeframe.
• REMSEA will conduct a reasonable investigation and provide a resolution based on its findings.
• Any compensation awarded will be subject to specific limits and may not encompass all potential losses.
• If insurance is in place, it will only cover certain types of incidents, with exclusions and limitations detailed in the policy.
• Customers will be notified if their assets are stored outside of Singapore, and REMSEA will not be liable for any delays or complications in asset recovery due to differing legal frameworks in foreign jurisdictions.

11.Intellectual Property

Remsea’s Website and the Remsea Service, their content and all intellectual property pertaining thereto and contained therein (including copyrights, patents, database rights, trademarks and service marks) are the property of Remsea, of Remsea affiliates or of third parties. All rights to Remsea’s Website and Remsea Service remain Our property and/or the property of the third party. Remsea’s Website and Remsea Service must be used only for the purposes permitted by these Terms and Conditions or as described on the Website. You are exclusively entitled to display and save a copy of the pages of the Remsea Website for Your personal use. Without Our express written approval You are not entitled to duplicate, publish or modify the Remsea Website, the Remsea Service or parts thereof, or to create derivative works from the same, to participate in their assignment or sale, to publish them in the World Wide Web or use them in any other form for any public or commercial purpose. You are not entitled:

• to selling, sub-licensing and/or otherwise commercializing any Website material;
• to using this Website in any way that is or may be damaging to this Website;
• to using this Website in any way that impacts user access to this Website;
• to using this Website contrary to applicable laws and regulations, or in any way may cause harm to the Website, or to any person or business entity;
• to use a robot, spider, scraper or any other automated programme to access the Remsea Website or the Remsea Service, and/or
• remove or modify information related to copyrights and trademarks or proprietary information published on the Remsea Website (or printed pages of the Website).

The name Remsea and all other names as well as proprietary designations of Remsea products and/or services named on the Remsea Website are exclusive brands of Remsea or of other third parties. Other product, service or company designations appearing on the Website may be the trademarks of their respective owners.

12.Links to Other Websites

The Remsea Website may contain links and pointers to other World Wide Web Internet sites and resources (the “Linked Sites”). Links to any Linked Site do not constitute an endorsement by Us or Our association with any third party resources or their contents. Links do not imply that Remsea is affiliated or associated with third parties or is legally authorised to use any trademark, trade name, logo or copyright symbol displayed in or accessible through a link, or that any Linked Sites are authorised to use any trademark, trade name, logo or copyright symbol of Remsea. You should direct any concerns regarding any Linked Site to such Linked Site’s site administrator or webmaster. Remsea does not represent or endorse the accuracy or reliability of, and expressly disclaims, any advice, opinion, statement, or other information displayed or distributed through any Linked Site. You hereby acknowledge that reliance upon any opinion, advice, or information displayed on or otherwise available through any Linked Site shall be at Your sole risk.

13.Right to Rescind or Cancel a Cross-Border Payment

13.1. You have the right to rescind a cross-border payment order issued through writing to cs@remsea.com within 14 days. The rescission must be declared to Us expressly and in writing by e-mail or via Whatsapp +65 8399 6693. However, this right of rescission does not apply if We have already paid out the funds to the Beneficiary before We received Your notice of rescission. When exercising Your right of rescission prior to Our having paid out the funds to the Beneficiary, We will refund the amount of the transfer to You and do not charge any fees.

13.2. You may rescind a cross-border payment order in writing by e-mail or Whatsapp +65 8399 6693 sent to Us provided that We have not as yet paid out the funds to the Beneficiary prior to receiving Your notice of rescission. In this case We will refund to You the amount of the cross-border payment at the Remsea exchange rate valid at the moment of the refund, however at least at the nominal value of the transfer amount insofar as the funds have not been paid out to the Beneficiary within 45 days. In this case the transfer fees will not be refunded. If We do not make the funds available for collection by the Beneficiary within three business days, We will refund in the event of Your justified notice of rescission the amount of the cross-border payment plus all transfer fees paid (subject to statutory or regulatory restrictions).

14.Entire Agreement

These Terms and Conditions, jointly with all other contractual items referred to in these Terms and Conditions, constitute the entire agreement between You and Us and supersede any prior agreements which may exist between You and Us.

15.Severability Clause

If one or several of the provisions to these Terms and Conditions are invalid, unlawful or unenforceable, then this does not affect the validity of the remaining provisions.

16.No Waiver

Our failure to exercise or enforce any right or provision of the Terms and Conditions shall not constitute a waiver of such right or provision.

17.Modification

We may modify these Terms and Conditions from time to time without notice to You, except as may be required by law. You can review the most current version of the Terms and Conditions at any time by reviewing Our Website. You may terminate your use of the Remsea Service if you do not agree with any modification or amendment. If you use the Remsea Service after the effective date of an amendment or modification, you shall be deemed to have accepted that amendment or modification.

18.Third Party Rights

A person who is not a party to any agreement governed by these Terms and Conditions has no rights under the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore.

19.Assignment

We shall have the right to assign and transfer these Terms and Conditions (including all of Our rights, titles, benefits, interests, and obligations and duties in these Terms and Conditions) to any of Our affiliates and to and to any successor in interest. We may delegate any of Our rights and responsibilities under these Terms and Conditions to our affiliates, independent contractors or third parties. You may not assign, in whole or in part, these Terms and Conditions to any person or entity.

20.Complaints, Applicable Law, Jurisdiction

These Terms and Conditions shall be governed and construed in accordance with the laws of the Republic of Singapore and the parties submit to the exclusive jurisdiction of the courts of the Republic of Singapore. Any disputes shall be resolved through arbitration administered by the Singapore International Arbitration Centre (SIAC).

For questions regarding our licence or regulatory status, please contact info@remsea.com.