Terms & Conditions for Remittance Services

Last updated: October 2024

Thank you for choosing Everpro Holdings Limited under the brand name “PARemit” (“Company”). The following General Terms & Conditions apply to our provision of remittance services.

1. Definitions
In this General Terms & Conditions, unless the context otherwise requires, the following words and expressions shall have the following meanings: 

1.1. “Affiliate” means (i) an entity or organization which is under the control or management of Company, (ii) any of Company’s directors or shareholders, and (iii) such individual and entity as Company may inform Client from time to time and “Affiliates” shall be construed accordingly;

1.2. “Agreement” means these General Terms & Conditions which govern Company’s provision of remittance services to Client; 

1.3. “Beneficiary” means the recipient identified by Client to receive Client’s remittance payment made pursuant to its Remittance Order and “Beneficiaries” shall be construed accordingly; 

1.4. “Client Approval Verification” means the verification of the authenticity and accuracy of a Client’s Remittance Order by Client generating OTPs using his/her Security Token and submitting the OTPs on Company’s online remittance platform; 

1.5. “Client” means the party identified at the onboarding process as the sender of the remittance to be made; 

1.6. “Company” means Everpro Holdings Limited, a private limited company incorporated in Hong Kong with company number 2298943; 

1.7. “Foreign Currency” means the currency in which a Beneficiary is to receive Client’s remittance payment pursuant to Client’s Remittance Order; 

1.8. “OTP” means a One Time Pin generated using the Security Token and “OTPs” shall be construed accordingly; 

1.9. “Rejected Transaction” means a remittance instruction from Client, including Remittance Order, which is rejected by Company; 

1.10. “Remittance Amount and Charges” means the aggregate amount in Source Currency to be paid by Client to Company (including any of Company’s fees and charges) in relation to a Remittance Order; 

1.11. “Remittance Details” includes particulars of the Beneficiary, Source Currency and amount to be converted, Foreign Currency and amount to be paid to Beneficiary and such other details and information as set out in the online Remittance Order by Client; 

1.12. “Remittance Order” means a remittance order by Client instructing Company to execute a remittance payment based on its Remittance Details; 

1.13. “Security Token” means a security token provided by Company to Client for the purposes of Client Approval Verification; 

1.14. “Source Currency” means the currency which Client proposes to make payment of the applicable Remittance Payment and Charges; 

1.15. “System Interruption” means an event which prevents or disrupts Client’s access to or use of Company’s online platform to submit its Remittance Order and as acknowledged by Company and “Systems Interruptions” shall be construed accordingly;

1.16. “Third Party Intermediary” means an intermediary or correspondent bank or financial institution, agent or other person or organization which enables or facilitates Company’s remittance services and “Third Party Intermediaries” shall be construed accordingly; 

1.17. “Transaction Amount” means the amount that you send from your credit card or bank transfer for a Remittance Order, minus any applicable fees prior to any foreign exchange conversion. 

1.18. “Website” means http://www.paremit.com or such other website designated by PARemit (powered by Everpro) to provide its remittance services. 

1.19. In these General Terms & Conditions, unless the context otherwise requires or permits: 

1.19.1. references to the singular number shall include references to the plural number and vice versa; 

1.19.2. clause headings are included for convenience and do not constitute terms of these General Terms & Conditions or affect their interpretation; 

1.19.3. references to natural persons shall include bodies corporate and vice versa; and words denoting any gender shall include all genders.

2. Service 

2.1. Company provides its remittance services to clients for the fulfillment of international payments. Company discourages the use of its services for speculative purposes and Company does not provide advisory services. 

3. Authorized Representatives 

3.1. Company shall be entitled to process, execute, proceed with and otherwise deal with Client’s remittance instructions and communicate with Client based on Client’s submitted onboarding documents when opening its merchant account. It is Client’s responsibility to make sure that Company is at all material times provided with complete, clear and accurate information and instructions for remittance instructions and communication purposes. Should any of such information and instructions change, please update Company immediately and until such update, Company shall proceed in accordance with the information and instructions last provided to Company. 

4. Submission of Remittance Instructions 

4.1. Company shall accept instructions for remittance of monies via Company’s online remittance platform only. 

4.2. Submission via Company’s online remittance platform: 

4.2.1. subject to the Client Approval Verification, Client shall submit its Remittance Order through the Company’s online remittance platform; 

4.2.2. Company’s online remittance platform shall indicate the status at each stage of the placing of the Remittance Order and the acceptance and execution of the Remittance Order, including the status of the Remittance Order until the Remittance Amount is received by the Beneficiary. 

5. Payment of Remittance Amount and Charges 

5.1. In relation to each Remittance Order, Client shall provide payment of the applicable Remittance Amount and Charges by online credit card payment or bank transfer. 

5.2. Client acknowledges and agrees that until full payment of the applicable Remittance Amount and Charges is received by company, company is unable to execute client’s order. 

5.3. All payments to be made by Client to Company under this Agreement shall be made in full without any set-off, counterclaim, and free and clear of and without any deduction unless Client is required by any application law to make a deduction, in which case the sum payable by Client (in respect of which such a deduction is required to be made) shall be increased to the extent necessary to ensure that Company receives a sum net of any deduction or withholding equal to the sum which it would have received had no such deduction been made or required to be made.

5.4. Notwithstanding anything to the contrary in this Agreement, the Client authorises Company to recover funds from the Client if any error (whether due to Company or any third party) results in the Client or any beneficiary receiving funds that the Client or the beneficiary is not entitled to receive (“Excess Funds”). The Client further authorises Company to set off such Excess Funds against any sum owed by Company to the Client and undertakes to provide reasonable assistance to Company to aid its effort in recovering such Excess Funds (including obtaining such consent from the beneficiary for the reversal of Excess Funds). 

6. Remittance of Monies to Beneficiary 

6.1. Upon receipt of the applicable Remittance Amount and Charges, Company shall execute Client’s Remittance Order and remit the monies depending on the time of receipt of the Remittance Order and the applicable Remittance Amount and Charges (Please see “CutOff Time” below). 

7. Rejected Transactions 

7.1. Company reserves its absolute right to reject any remittance instructions, including Remittance Order, without assigning any reason therefor. 

8. Third Party Charges and Fees 

8.1. Unless waived by Company, any and all third party charges and fees, including but not limited to bank charges and administrative fees imposed by banks, in relation to any transfer of monies arising out of or in connection with a Remittance Order (whether successfully processed, executed and completed or otherwise) shall be fully borne by Client. 

9. Exchange Rates 

9.1. We always specify the exchange rate applicable to your Remittance Order at the time you submit your requested Remittance Order, and this exchange rate will be locked-in (the “Locked-In Exchange Rate”) for a period of 24 hours from the time you initiate your payment (the “Specified Period”). We will convert the Transaction Amount at the LockedIn Exchange Rate, provided that your Transaction Amount is received by us within the Specified Period. 

9.2. If the Transaction Amount is received by us after the Specified Period, we will convert your funds at the Unlocked Exchange Rate, as defined below, which means that the exchange rate could be higher or lower than the Locked-In Exchange Rate. 

9.3. We, through PARemit, make reasonable efforts to align Unlocked Exchange Rates with the mid-market rate in global currency markets at the time of conversion. PARemit relies on aggregated third party information sources, and we do not guarantee that the rates match any particular benchmark source at any given time. We are not liable if the amount received by the Beneficiary is less than anticipated as a result of changes in the global currency markets. 

9.4. Neither we nor any of our service providers take any margin or spread on the exchange rate associated with your Remittance Order; hence, there are no buy and sell rates. The rate that you receive is exactly the same rate as your counterparty. The only fees you pay us for Remittance Orders are the charges in the Remittance Amount and Charges described in herein. 

9.5. For the avoidance of doubt, we do not currently offer the ability to make recurring payments or forward contracts as part of our services. 

10. Cut-Off Time

10.1. A Remittance Order shall be processed and executed within the same working day if such an instruction and payment of its applicable Remittance Amount and Charges are received before cut-off time on Monday to Friday (refer to Cut Off time Schedule). For Remittance Orders received after the Cut-Off Time or on Saturdays or Sundays, or Remittance Orders whose applicable Remittance Amount and Charges are received after the Cut-Off Time oron Saturdays or Sundays, such Remittance Orders will be processed within the next working day. Notwithstanding the above, the final Cut Off Time, processing and execution time shall be subject to our Third Party Intermediaries’ and the Beneficiary’s bank’s operations. 

11. Client’s Further Obligations 

11.1. Client shall disclose and supply to Company as soon as practicable all material information and documents as Company (acting reasonably) may request that is necessary or desirable for Company to provide its remittance services to Client. Without limiting the generality of the aforesaid, Client accepts that Company is obliged to comply with various anti-money laundering, anti-terrorist financing and Know-Your-Client rules. Company is obliged to take reasonable measures to ascertain and verify the identities of its clients and perform certain anti-money laundering and antiterrorist financing checks as soon as reasonably practicable and on an on-going basis during the course of acting for its clients. Accordingly, Client agrees to cooperate and provide Company, upon request, with such information and documents which independently verify the identity of Client, the subject matter of Client’s instructions and, under certain circumstances, Client’s business relationship with its Beneficiaries and the other parties to the subject transaction, and Client’s source of wealth and funds. 

11.2. Client shall not use Company’s services for any unlawful activity and Company reserves the right to investigate any suspicious activity, whether in response to any complaints or reported violations or otherwise. When investigating any such activity, Company reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data. 

11.3. Client shall take all care and precautions and have the appropriate internal control procedures and security arrangements to prevent fraud, forgery or any other unauthorized use or abuse of Company’s remittance services. 

12. Refund Policy If we allow Client to fund the liquidity by way of a card, Client agrees to the following terms: Refund Entitlement 

12.1. Client agrees that Client does not have the right to, and shall not, require PARemit to provide Client with a refund unless the relevant Remittance has been recalled or cancelled pursuant to the Clauses 12.2-12.7 below under the sub-heading “Recall or Cancellation of Remittance Request”. Recall or Cancellation of Remittance Request.

12.2. Client may only cancel a Remittance Order over the PARemit Platform if liquidity for the Remittance Order has not been provided, or in such other situations permitted on the PARemit Platform from time to time. 

12.3. In exceptional cases, Client may recall a Remittance Order by sending an email to [email protected] (“Recall Email”). PARemit shall use reasonable efforts to procure the recall or cancellation of such Remittance Order in accordance with the Recall Email, but does not guarantee that any recall of a Remittance Order would be successful. 

12.4. Client authorises PARemit to accept, rely and act upon any Recall Email. PARemit is under no obligation to check the authenticity or accuracy of any Recall Email received from Client and shall not be liable for any losses incurred or suffered by Client or any third party for complying with such Recall Email.

12.5. Prior to submitting a Recall Email to PARemit, Client shall ensure that all information contained in the Recall Email is complete and accurate. If Client subsequently learns of any error in the Recall Email, Client must immediately notify PARemit in writing.

12.6. If Client fails to provide timely, accurate and complete information in a Recall Email, PARemit may be unable to process such Recall Email or may have to delay the processing of such Instruction. PARemit shall not be liable for any losses incurred or suiered by Client or any third party as a result of such delay or failure in processing such Recall Email.

12.7. Any funds returned due to a recall or cancellation may be subject to charges and expenses and foreign exchange losses when converted at the prevailing exchange rate and Client agrees to indemnify PARemit in full against any and all losses incurred by PARemit in connection with such recall or cancellation. Incomplete or Unsuccessful Remittance Order 

12.8. If, for any reason, any Remittance Order is not completed or unsuccessful, any liquidity provided in respect of such uncompleted or unsuccessful Remittance Order will be returned to the Client via the same payment card number. 

13. Chargeback Policy 

13.1. Client waives all rights to raise a chargeback with the issuer of Client’s payment card and Client undertakes not to request a chargeback with respect to any liquidity. By proceeding with any transaction through PARemit, you explicitly waive your right to initiate a chargeback for any processed transactions and agree that any disputes shall be resolved directly with PARemit in accordance with our established policies and procedures. Breach of this Clause 13.1 shall be considered as a material breach not capable of being remedied entitling PARemit to terminate these Terms and Conditions with Client immediately.

13.2. Without prejudice to Clause 13.1 above, upon the occurrence of a chargeback in breach of these Terms and Conditions, such chargeback represents a debt due and payable by Client immediately on demand by PARemit. Each chargeback will be deducted from any funds held by PARemit on Client’s behalf or any sum owed by PARemit to Client from time to time. This Clause 13.2 survives termination of the Services or these Terms and Conditions. 

13.3. Furthermore, you agree that any chargebacks related to your selected pay-in method may incur an administrative fee of up to USD7.00. PARemit reserves the right to issue a separate invoice to recover any fees or charges incurred in connection with such disputes. You acknowledge that access to our services may be temporarily restricted until the conclusion of any investigation. In cases of serious concern, including, but not limited to, unusually high or frequent chargeback occurrences, PARemit may take appropriate actions, including, but not limited to, the termination of your PARemit App sender account.

14. Confidentiality 

14.1. Subject to Clause 

14.2, all communications between Client and Company and all information and other material supplied to or received by any of them from the other which is either marked “confidential” or is by its nature intended to be exclusively for the knowledge of the recipient alone and any information concerning the business transactions or the financial arrangements of Client or Company shall be kept confidential by the recipient unless or until compelled to disclose by judicial or administrative procedures or otherwise by any applicable law, or the recipient can reasonably demonstrate that it is or part of it is, in the public domain (other than by virtue of its actions and/or omissions) or that the information has also been received from a third party which, to the actual knowledge of the recipient is not subject to any confidentiality obligations with respect to such information whereupon, to the extent that it is public, this obligation shall cease. Provided that nothing herein shall prohibit any party from disclosing any information referred to in this Clause to its auditors or other professional advisers. 14.2. The Client agrees that the Company, along with its employees, directors, officers, agents, and Affiliates, may collect, maintain, and disclose information regarding the Client, the Company’s services provided to the Client, and the Client’s remittance instructions, including any Remittance Orders, to any Third Party Intermediaries deemed appropriate by the Company. Typically, to facilitate the execution of the Client’s Remittance Order, the Company will need to disclose the Client’s details to these Third Party Intermediaries.

14.3. The rights and obligations of Client and Company contained in this Clause 14 shall survive termination. 

15. Third Party Intermediaries 

15.1. In providing its remittance services to Client, Company may use such Third-Party Intermediaries as it deems appropriate. 

15.2. Client further accepts that Company and the Third-Party Intermediaries are required to act in accordance with any applicable laws, rules and regulations, including but not limited to such laws and regulations that relate to money laundering, terrorism funding and legislation or rules on sanctions.

16. Remittance Operations 

16.1. By accepting these Terms & Conditions, Client acknowledges and agrees that PARemit reserves the right to defer the processing of a Remittance Order under specific circumstances, including but not limited to the need to verify Client’s authorization of the transaction, conduct necessary verification checks, or perform due diligence reviews. Additionally, such deferral may occur in the event that payments made with Client’s card have been reversed. PARemit shall not be held liable for any delays resulting from such actions, provided that we have acted in a reasonable and prudent manner. 

17. Communications 

17.1. All process papers, notices, demands, or other communications to Company required or permitted to be given or made shall be in writing and delivered personally or sent by prepaid registered post with recorded delivery, or by facsimile or email transmission addressed to Company at the addresses specified below: Everpro Holdings Limited. Address: Room 43A, 21/F., On Hong Commercial Building, 145 Hennessy Road, Hong Kong Email: [email protected]. 

17.2. All process papers, notices, demands or other communications to Client required or permitted to be given or made shall be by posting notices on the Everpro and PARemit online remittance platform at http://www.everpro.com and http://www.paremit.com respectively. 

18. Amendments 

18.1. At any time, Company may amend, modify or revise this General Terms & Conditions. The revised version will be effective once posted the Company’s website. The Client is required to check the website from time to time for any updates to the Terms & Conditions and its use of any services after the effective date of an amendment or modification shall constitute acceptance of such amendment or modification. The Customer may terminate its use of any services if it does not agree with any modification or amendment. 

19. Disclaimer and Limitations 

19.1. Without prejudice to Clause 19.3, once a Remittance Order has been executed by Company, it cannot be reversed and Company shall not be liable in any way for any loss Client suffers or may suffer arising from or in connection with Company’s execution of the Remittance Order. 

19.2. Company’s services are of a remittance nature only, and Company shall take no decisions on behalf of Client and its management. All remittances are dispatched entirely at Client’s own risk. 

19.3. Save for gross negligence or willful default, under no circumstances will Company, its employees, directors, officers, agents and Affiliates be liable for any damages, losses or claims (including any indirect, punitive, exemplary, special or consequential damages) arising from or in connection with: 

19.3.1. client’s access to or use of Company’s remittance services, including any inability to access to or use Company’s online remittance platform; 

19.3.2. any unsuccessful execution of a Remittance Order; 

19.3.3. any wrongful or fraudulent access and/or use of Company’s online remittance platform using Client’s login identity, login password and/or Security Token;

19.3.4. client in any way being involved in fraud, forgery or any unlawful or unauthorized use of Company’s remittance services; 

19.3.5. Company’s compliance with any applicable law or regulation (including any order of court of any relevant jurisdiction, exchange controls or currency restrictions or sanctions legislation, anti-money-laundering or anti-financing-terrorism laws and regulations); or 

19.3.6. Company’s choice and use of any Third-Party Intermediaries to facilitate its remittance services, including any such Third-Party Intermediaries’ actions or failure to act. 

19.4. Company’s services are of a remittance nature only, and Company shall take no decisions on behalf of Client and its management. All remittances are dispatched entirely at Client’s own risk. 

19.5. Save for gross negligence or willful default, under no circumstances will Company, its employees, directors, officers, agents and Affiliates be liable for any damages, losses or claims (including any indirect, punitive, exemplary, special or consequential damages) arising from or in connection with: 

19.5.1. client’s access to or use of Company’s remittance services, including any inability to access to or use Company’s online remittance platform; 

19.5.2. any unsuccessful execution of a Remittance Order; 

19.5.3. any wrongful or fraudulent access and/or use of Company’s online remittance platform using Client’s login identity, login password and/or Security Token; 

19.5.4. client in any way being involved in fraud, forgery or any unlawful or unauthorized use of Company’s remittance services. 

20. Indemnity 

20.1. Client agrees to indemnify and hold Company, its employees, directors, officers, agents and Affiliates harmless from any and all claims, demands, actions, proceedings, liabilities (including statutory liability and liability to third parties), penalties, and costs (including without limitation, legal costs on a full indemnity basis), awards, losses and/or expenses, arising out of or in connection with: 

20.1.1. any dispute Client have or may have with its Beneficiaries; 

20.1.2. Company acting on the instructions of Client in relation to any remittance instructions, including the execution of any Remittance Order; or 

20.1.3. Client’s breach of any terms and conditions of the Agreement. 

21. Terms of Use 

21.1. Client agrees that for the purpose of remittance instructions to Company, Client shall access and use the platform provided at the website designated by Company, http://www.paremit.com. Client shall have a unique login identity and unique login password or such other form of approved user identification as to provide Client access to, and use of, the Website. 

21.2. Client shall be fully responsible for the use, protection and confidentiality of the login identity and login password as well as all transactions executed through the same. If Client (or any person) attempts to access the Website using an incorrect login identity and/or login password (whether once or within such number of attempts as Company may decide from time to time) Company shall be entitled (but shall not be obliged) to refuse access to and use of the Website and take such steps as Company may deem appropriate.

21.3. Client shall on becoming aware of any unauthorized access of the Website or loss or theft of its login identity and/or login password immediately provide such particulars as Company may reasonably require and, until actual receipt of such information and particulars by Company, all losses arising from any unauthorized access of the Website or the said loss or theft shall be borne solely by Client. For the avoidance of doubt, without prejudice to Clause 19, Company shall not be liable for any loss, cost, expense or damage arising from any unauthorized access of the Website or the loss or theft of Client’s login identity and/or login password.

22. General Provisions 

22.1. If the Agreement is translated into a language other than English and there is any difference or inconsistency between the two, the English version shall prevail. 

22.2. Nothing contained or implied in the Agreement or Client’s access to or use of Company’s online remittance platform shall constitute or be deemed to constitute a partnership between Company and Client and none of Company and Client shall have any authority to bind or commit the other party in any way. 

22.3. These General Terms & Conditions embodies all the terms and conditions agreed upon between Company and Client and supersedes, extinguishes and cancels in all respects any and all other drafts, previous agreements, undertakings, representations, warranties and arrangements of any nature whatsoever (if any) between the parties with respect to the subject matter hereof, whether such be written or oral. 

22.4. Company and Client shall not assign, transfer or novated all or any of its rights or obligations under the Agreement to any third party without the prior written agreement of the other party. 

22.5. If any provision of the Agreement is held to be illegal, invalid or unenforceable in whole or in part in any jurisdiction, the Agreement shall, as to such jurisdiction, continue to be valid as to its other provisions and the remainder of the affected provision; and the legality, validity and enforceability of such provision in any other jurisdiction shall be unaffected. 

22.6. Our engagement under the Agreement with you do not create any rights in or liabilities to any third party. A person who is not a party to the Agreement shall have no right under the Contracts (Rights of Third Parties) Ordinance (Cap 623) to enforce any of its terms. 

23. Governing Law

23.1. The Agreement shall be governed by, and interpreted in accordance with, Hong Kong law. 

24. Dispute Resolution 

24.1. Any dispute arising out of or in connection with the Agreement, including any question regarding its existence, validity, termination or interpretation, shall be referred to and finally resolved by arbitration in Hong Kong at the Hong Kong International Arbitration Centre in accordance with the Arbitration Rules for the time being in force, which rules are deemed to be incorporated by reference in this clause. The tribunal shall consist of one (1) arbitrator to be appointed by Company. The language of the arbitration shall be English. 

Everpro Holdings Limited is regulated by Hong Kong Customs and Excise 

Department Cut Off time Schedule: 15:00 Hong Kong Time on Mondays to Fridays.