Cosmos Currency Exchange Terms & Conditions
1. Introduction
These Terms and Conditions (“Terms”) govern the relationship between Cosmos Currency Exchange (“Cosmos”, “we”, “us”) and their client (“Client”, “you”).
2. Regulated Services and Disclosures
The Cosmos payment and foreign currency exchange services (the “Services”) are provided by certain third-party non-bank foreign exchange and international payments institutions (the “Fulfilment Provider”), each being a regulated money service business (“MSB”). Cosmos Currency Exchange acts as the programme manager for the Fulfilment Provider.
By engaging Cosmos and conducting transactions through the Fulfilment Provider’s online platforms, you acknowledge and agree to these Terms.
3. The Role of Cosmos
3.1 Cosmos acts solely as an introducing broker and programme manager in relation to the Services provided to you by the Fulfilment Provider.
3.2 Cosmos may:
• Assist with onboarding the Client, including collection and submission of Client documents and information to the Fulfilment Provider.
• Provide Client support and communication in relation to the Services.
• Relay Client instructions and, when authorised, execute transactions on the Fulfilment Provider’s platform on behalf of the Client.
3.3 Cosmos does not:
• Hold or manage Client funds.
• Provide investment, legal, or tax advice.
• Assume or accept any responsibility for the delivery of the Services including, without limitation, the execution or settlement of transactions, where responsibility rests solely with the Fulfilment Provider as the regulated MSB.
4. Fulfilment Provider’s Role
4.1 The Fulfilment Provider is the exclusive provider of the Services to you, including all payment and foreign currency exchange transactions, together with all related financial services.
4.2 Except for the responsibilities of Cosmos specifically provided herein, your contractual relationship for the Services you receive is direct with the Fulfilment Provider. The Fulfilment Provider is responsible for execution, settlement, safeguarding of funds, and all regulatory compliance obligations applicable to the Services as per their Terms & Conditions.
4.3 Cosmos does not guarantee any aspect of the delivery of the Services to you by the Fulfilment Provider.
5. Client Responsibilities
5.1 You agree to provide accurate and complete information to Cosmos as required for the proper onboarding of you as a Client of the Fulfilment Provider and in connection with ongoing compliance purposes.
5.2 You may execute transactions and payments directly through the Fulfilment Provider’s online platform. Cosmos may, when instructed by the Client or an authorised representative of the Client, execute transactions and payments on the Fulfilment Provider’s platform on their behalf. Any such instruction given to Cosmos shall carry the same authority and effect as if the Client had executed the transaction directly within the Fulfilment Provider’s platform. Cosmos does not accept responsibility for the execution of such instruction. For compliance and record-keeping purposes, all Client instructions must be communicated via email or recorded telephone calls.
5.3 Disclaimer
Notwithstanding that Cosmos executes transactions on the Client’s behalf within the Fulfilment Provider’s online platform, the regulated entity responsible for carrying out those transactions is the Fulfilment Provider. All contractual and regulatory obligations in relation to execution, settlement, and safeguarding of Client funds rests solely with the Fulfilment Provider.
6. Limitation of Liability
6.1 Cosmos will act with reasonable care in performing its role as introducing broker and programme manager.
6.2 Cosmos shall not be liable for any losses, damages, costs, or claims arising from the Fulfilment Provider’s actions or omissions in connection with the provision of the Services, including but not limited to execution of transactions or safeguarding of funds.
6.3 In no event shall Cosmos be liable to the Client, its representatives or to any third party, for any indirect, consequential, incidental, special, punitive or exemplary damages, of whatsoever nature (including, but not limited to, lost business, lost profits, damage to goodwill or reputation) whether arising out of breach of contract, warranty, tort (including negligence, failure to warn or strict liability), contribution, indemnity, subrogation or otherwise.
7. Data Protection
7.1 Cosmos may collect and share your personal or business information with the Fulfilment Provider solely for onboarding, compliance, and servicing purposes.
7.2 Cosmos will handle your information in accordance with the applicable data protection laws in force.
8. Governing Law
These Terms shall be governed by and construed in accordance with the law of England and Wales. Disputes will be resolved in English and Welsh courts, but we may act in foreign jurisdictions if necessary. The parties hereby irrevocably attorn to the jurisdiction of the English and Welsh courts with respect to the adjudication of any matter relating to these Terms.
9. Deemed Acknowledgement and Acceptance
By engaging in any payment and/or foreign currency exchange transaction conducted on a Fulfilment Provider’s platform, you are deemed to have accepted these Terms.