Legal

Note

All Fairexpay services are processed in strict compliance with the Reserve Bank of India (RBI) guidelines, the Liberalised Remittance Scheme (LRS), and the Foreign Exchange Management Act (FEMA). For any legal queries, please reach out to our support team.

1. Regulatory Recognised

Fairexpay is recognised under the Reserve Bank of India's Sandbox Cohort II. We operate as a digital cross border payments platform, facilitating outward remittances under the Liberalised Remittance Scheme (LRS) in compliance with FEMA guidelines.

All remittances on the Fairexpay platform are:

• Processed under the Liberalised Remittance Scheme (LRS) as defined by the RBI
• Governed by the Foreign Exchange Management Act (FEMA)
• Capped at USD 2,50,000 per individual per financial year, as mandated under the LRS

2. Certifications

ISO 27001 Certified: Fairexpay holds ISO 27001 certification — the internationally recognised standard for Information Security Management Systems (ISMS). This certification confirms that all customer data, transaction records, and sensitive financial information are managed through a comprehensively audited and structured security framework.

SOC 2 Type II Certified: Fairexpay is SOC 2 Type II certified — a rigorous, independent security standard specifically designed for service organisations that handle sensitive customer data. This certification validates that Fairexpay's systems, processes, and controls meet the highest benchmarks for security, availability, and data confidentiality.

Interpretation and Definitions

Interpretation: The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.

Definitions: For the purposes of this Privacy Policy:

• Account means a unique account created for You to access our Service or parts of our Service.
• Affiliate means an entity that controls, is controlled by or is under common control with a party, where "control" means ownership of 50% or more of the shares, equity interest or other securities entitled to vote for election of directors or other managing authority.
• Company (referred to as either "the Company", "We", "Us" or "Our" in this Agreement) refers to Fairex Solutions Private Limited, 1579, 4th Floor, 27th Main Road, 26th Cross, Sector 2, HSR Layout, Bengaluru, Karnataka 560102.
• Cookies are small files that are placed on Your computer, mobile device or any other device by a website, containing the details of Your browsing history on that website among its many uses.
• Country refers to: Karnataka, India
• Device means any device that can access the Service such as a computer, a cellphone or a digital tablet.
• Personal Data is any information that relates to an identified or identifiable individual.
• Service refers to the Website.
• Service Provider means any natural or legal person who processes the data on behalf of the Company. It refers to third-party companies or individuals employed by the Company to facilitate the Service, to provide the Service on behalf of the Company, to perform services related to the Service or to assist the Company in analyzing how the Service is used.
• Usage Data refers to data collected automatically, either generated by the use of the Service or from the Service infrastructure itself (for example, the duration of a page visit).
• Website refers to Fairexpay, accessible from www.fairexpay.com
• You means the individual accessing or using the Service, or the company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable.

Collecting and Using Your Personal Data

Types of Data Collected

Personal Data: While using Our Service, We may ask You to provide Us with certain personally identifiable information that can be used to contact or identify You. Personally identifiable information may include, but is not limited to:

• Email address
• First name and last name
• Phone number
• Address, State, Province, ZIP/Postal code, City
• Usage Data

Usage Data: Usage Data is collected automatically when using the Service.

Usage Data may include information such as Your Device's Internet Protocol address (e.g. IP address), browser type, browser version, the pages of our Service that You visit, the time and date of Your visit, the time spent on those pages, unique device identifiers and other diagnostic data.

When You access the Service by or through a mobile device, We may collect certain information automatically, including, but not limited to, the type of mobile device You use, Your mobile device unique ID, the IP address of Your mobile device, Your mobile operating system, the type of mobile Internet browser You use, unique device identifiers and other diagnostic data.

We may also collect information that Your browser sends whenever You visit our Service or when You access the Service by or through a mobile device.

Tracking Technologies and Cookies

We use Cookies and similar tracking technologies to track the activity on Our Service and store certain information. Tracking technologies used are beacons, tags, and scripts to collect and track information and to improve and analyze Our Service. The technologies We use may include:

• Cookies or Browser Cookies: A cookie is a small file placed on Your Device. You can instruct Your browser to refuse all Cookies or to indicate when a Cookie is being sent. However, if You do not accept Cookies, You may not be able to use some parts of our Service. Unless you have adjusted Your browser setting so that it will refuse Cookies, our Service may use Cookies.
• Web Beacons: Certain sections of our Service and our emails may contain small electronic files known as web beacons (also referred to as clear gifs, pixel tags, and single-pixel gifs) that permit the Company, for example, to count users who have visited those pages or opened an email and for other related website statistics (for example, recording the popularity of a certain section and verifying system and server integrity).

Cookies can be "Persistent" or "Session" Cookies. Persistent Cookies remain on Your personal computer or mobile device when You go offline, while Session Cookies are deleted as soon as You close Your web browser.

We use both Session and Persistent Cookies for the purposes set out below:

Necessary / Essential Cookies

Type: Session Cookies

Administered by: Us

Purpose: These Cookies are essential to provide You with services available through the Website and to enable You to use some of its features. They help to authenticate users and prevent fraudulent use of user accounts. Without these Cookies, the services that You have asked for cannot be provided, and We only use these Cookies to provide You with those services.

Cookies Policy / Notice Acceptance Cookies

Type: Persistent Cookies

Administered by: Us

Purpose: These Cookies identify if users have accepted the use of cookies on the Website.

Functionality Cookies

Type: Persistent Cookies

Administered by: Us

Purpose: These Cookies allow us to remember choices You make when You use the Website, such as remembering your login details or language preference. The purpose of these Cookies is to provide You with a more personal experience and to avoid You having to re-enter your preferences every time You use the Website.

Use of Your Personal Data

The Company may use Personal Data for the following purposes:

• To provide and maintain our Service, including to monitor the usage of our Service.
• To manage Your Account: to manage Your registration as a user of the Service.
• For the performance of a contract: the development, compliance and undertaking of the purchase contract for the products, items or services You have purchased or of any other contract with Us through the Service.
• To contact You: To contact You by email, telephone calls, SMS, or other equivalent forms of electronic communication regarding updates or informative communications related to the functionalities, products or contracted services, including security updates.
• To provide You with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or enquired about unless You have opted not to receive such information.
• To manage Your requests: To attend and manage Your requests to Us.
• For business transfers: We may use Your information to evaluate or conduct a merger, divestiture, restructuring, reorganization, dissolution, or other sale or transfer of some or all of Our assets.
• For other purposes: We may use Your information for other purposes, such as data analysis, identifying usage trends, determining the effectiveness of our promotional campaigns and to evaluate and improve our Service.

We may share Your personal information in the following situations:

• With Service Providers: We may share Your personal information with Service Providers to monitor and analyze the use of our Service, to contact You.
• For business transfers: We may share or transfer Your personal information in connection with, or during negotiations of, any merger, sale of Company assets, financing, or acquisition of all or a portion of Our business to another company.
• With Affiliates: We may share Your information with Our affiliates, in which case we will require those affiliates to honor this Privacy Policy.
• With business partners: We may share Your information with Our business partners to offer You certain products, services or promotions.
• With other users: when You share personal information or otherwise interact in the public areas with other users, such information may be viewed by all users and may be publicly distributed outside.
• With Your consent: We may disclose Your personal information for any other purpose with Your consent.

Retention of Your Personal Data

The Company will retain Your Personal Data only for as long as is necessary for the purposes set out in this Privacy Policy. We will retain and use Your Personal Data to the extent necessary to comply with our legal obligations, resolve disputes, and enforce our legal agreements and policies.

The Company will also retain Usage Data for internal analysis purposes. Usage Data is generally retained for a shorter period of time, except when this data is used to strengthen the security or to improve the functionality of Our Service, or We are legally obligated to retain this data for longer time periods.

Transfer of Your Personal Data

Your information, including Personal Data, is processed at the Company's operating offices and in any other places where the parties involved in the processing are located. It means that this information may be transferred to — and maintained on — computers located outside of Your state, province, country or other governmental jurisdiction where the data protection laws may differ than those from Your jurisdiction.

Your consent to this Privacy Policy followed by Your submission of such information represents Your agreement to that transfer.

The Company will take all steps reasonably necessary to ensure that Your data is treated securely and in accordance with this Privacy Policy and no transfer of Your Personal Data will take place to an organization or a country unless there are adequate controls in place including the security of Your data and other personal information.

Delete Your Personal Data

You have the right to delete or request that We assist in deleting the Personal Data that We have collected about You.

Our Service may give You the ability to delete certain information about You from within the Service.

You may update, amend, or delete Your information at any time by signing in to Your Account, if you have one, and visiting the account settings section that allows you to manage Your personal information. You may also contact Us to request access to, correct, or delete any personal information that You have provided to Us.

Please note, however, that We may need to retain certain information when we have a legal obligation or lawful basis to do so.

Disclosure of Your Personal Data

Business Transactions: If the Company is involved in a merger, acquisition or asset sale, Your Personal Data may be transferred. We will provide notice before Your Personal Data is transferred and becomes subject to a different Privacy Policy.

Law enforcement: Under certain circumstances, the Company may be required to disclose Your Personal Data if required to do so by law or in response to valid requests by public authorities (e.g. a court or a government agency).

Other legal requirements: The Company may disclose Your Personal Data in the good faith belief that such action is necessary to:

• Comply with a legal obligation
• Protect and defend the rights or property of the Company
• Prevent or investigate possible wrongdoing in connection with the Service
• Protect the personal safety of Users of the Service or the public
• Protect against legal liability

Security of Your Personal Data

The security of Your Personal Data is important to Us, but remember that no method of transmission over the Internet, or method of electronic storage is 100% secure. While We strive to use commercially acceptable means to protect Your Personal Data, We cannot guarantee its absolute security.

Children's Privacy

Our Service does not address anyone under the age of 13. We do not knowingly collect personally identifiable information from anyone under the age of 13. If You are a parent or guardian and You are aware that Your child has provided Us with Personal Data, please contact Us. If We become aware that We have collected Personal Data from anyone under the age of 13 without verification of parental consent, We take steps to remove that information from Our servers.

Links to Other Websites

Our Service may contain links to other websites that are not operated by Us. If You click on a third party link, You will be directed to that third party's site. We strongly advise You to review the Privacy Policy of every site You visit.

We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.

Changes to this Privacy Policy

We may update Our Privacy Policy from time to time. We will notify You of any changes by posting the new Privacy Policy on this page.

We will let You know via email and/or a prominent notice on Our Service, prior to the change becoming effective and update the "Last updated" date at the top of this Privacy Policy.

You are advised to review this Privacy Policy periodically for any changes. Changes to this Privacy Policy are effective when they are posted on this page.

Contact Us

If you have any questions about this Privacy Policy, You can contact us:

• By email: support@fairexpay.com
• By visiting this page on our website: www.fairexpay.com/privacypolicy
• By phone: +91 9611092116

1. Fees and Charges

AD1/AD2 can set and revise its own fees and charges for facilities (including the Remittance Facility) at any time. AD1/AD2 shall provide a 30-day prior notice for implementing changes in fees and charges. Fairexpay does not control and is not responsible for any fees or charges imposed by any AD1/AD2 involved in the international wire transfer, including correspondent or Beneficiary AD1/AD2, or any other third parties in connection with the wire transfer.

Registered Users acknowledge that Fairexpay would affect the conversion at the applicable exchange rate prevailing on the day of conversion, subject to availability. Neither the Registered User nor the Beneficiary/recipient will be entitled to any interest for the period during which the funds are with AD1/AD2, are in the course of remittance, or for any other period.

2. Eligible Users

To access and use the product and avail the Remittance Facility, the Registered User must be at least 18 years of age and capable of entering into legally binding contracts under the applicable law. The Registered User must be a resident individual holding an AD1 account with any AD1 in India and must possess a PAN card and Aadhaar card. Customers with accounts previously classified as delinquent are not eligible for the Remittance Facility.

3. Registration Information

Limited access to www.fairexpay.com is available to non-Registered Users. Non-Registered Users cannot avail the Remittance Facility. To obtain increased access and avail the Remittance Facility, one must register on www.fairexpay.com as a Registered User.

The Registered User must provide true, accurate, current, and complete information as prompted by the registration form on www.fairexpay.com and update this information to keep it true, accurate, current, and complete at all times.

4. Acceptable Use

A Registered User/Visitor Shall Not:

• Illegal Activities: Use or access www.fairexpay.com to perform, facilitate, or support activities that violate Facility T&C or jurisdictional regulations, including money laundering, illegal gambling, fraud, or funding terrorist organizations.
• Restriction and Inhibition: Restrict or inhibit any other person from accessing, using, and enjoying www.fairexpay.com or the facilities.
• Intellectual Property: Modify, copy, distribute, transmit, display, perform, publish, license, create derivative works from, transfer, or sell any information, designs, logos, trademarks, software, facilities, products, or services obtained through www.fairexpay.com without proper permission.
• Unlawful Content: Post or transmit any unlawful, fraudulent, libelous, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, offensive, or otherwise objectionable content.
• Harmful Software: Post or transmit information or software containing viruses, trojan horses, worms, or other harmful components.
• Security Subversion: Attempt to hack into www.fairexpay.com or subvert any security measure.

5. Limitations of Offering

• Non-Advisory Role: AD1/AD2 does not assess the prudence of instructions or transactions by Registered Users. Registered Users should seek professional advice before making decisions.
• User Errors: AD1/AD2 is not responsible for errors or omissions made by Registered Users in providing necessary information for the Remittance Facility.
• Non-revocability: Registered Users cannot amend, cancel, or revoke transaction requests after submission.
• Third-Party Services: AD1/AD2 is not responsible for the quality, safety, legality, or delivery of third-party goods or services paid for using www.fairexpay.com facilities.

6. Disclaimers

• As-Is Basis: www.fairexpay.com, its information, and facilities are provided "as is" without warranties of any kind.
• Security: Despite appropriate security measures, AD1/AD2 does not guarantee immunity from denial of service attacks, unauthorized access, or other security breaches.
• Third-Party Delays: AD1/AD2 disclaims responsibility for delays or failures caused by actions of international AD1/AD2s and Service Providers involved in wire transfers.
• Liability Limitation: AD1/AD2 is not liable for any direct, indirect, incidental, punitive, or consequential damages arising from or related to www.fairexpay.com or facilities.

7. Facilities Provided by Third Parties

Some facilities require third-party services, and AD1/AD2 makes no warranty on their behalf. Users may be charged by third parties and must follow their terms and conditions. AD1/AD2 is not responsible for the performance, quality, or any other aspect of third-party services.

8. Terms of Specific Facilities

8.1 Alerts: AD1/AD2 will endeavour to send alerts as instructed but is not liable for delays or non-receipt.

8.2 Remittance Facility:

• Subject to regulatory approvals and other terms, users can initiate outward remittances.
• Users must pay the total remittance amount, including charges and taxes.
• AD1/AD2 processes requests upon receipt of clear funds and sends a SWIFT message for remittance.
• Maximum remittance transaction value is limited to USD 250,000 per financial year, subject to third-party transfer limits.
• AD1/AD2 is not liable for funds impounded by regulatory authorities in the relevant country.

9. Others

The Registered User acknowledges that submitting a request does not guarantee the transaction will be processed. The AD1/AD2 reserves the right to reject transactions based on regulatory and internal guidelines.

By using www.fairexpay.com and its facilities, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions. If you do not agree to these terms, please do not use our services.

2. Transaction Rejections by the Bank

In the event of a transaction being rejected by the bank, the following conditions shall apply:

• Refunds will be credited to the source account within 48 working hours from the date of rejection.
• Only payment gateway charges will be deducted from the refund amount.

3. Funds Not Accepted by the Beneficiary Bank

If funds are remitted but not accepted by the beneficiary bank for any reason, the following conditions shall apply:

• Refunds will be credited to the source account within 7 working days.
• The refund amount will be credited after deducting handling charges and the applicable Forex rate prevailing on the day of the refund.

4. Handling Charges and Forex Rates

Handling charges will be deducted for any transactions where funds are not accepted by the beneficiary bank.

The applicable Forex rate on the day of the refund shall be utilized to determine the final refund amount.

5. Bank Account Proof

In certain instances, the remitter may be required to provide proof of their bank account to facilitate the refund. Such proof may include:

• A cancelled cheque of the account from which the funds were transferred, or
• A bank statement evidencing the debit entry of the transfer.

6. Refund Process

Customers are not required to take any action to initiate a refund.

Upon transaction rejection, the refund shall be processed by the bank and credited to the source account of the remitter within the specified timeframe.

7. Contact Information

For inquiries or concerns regarding refunds, please contact our customer support team at:

Email: support@fairexpay.com

Alternatively, customers may raise a ticket from our Webapp for any refund-related concerns.

8. Amendments

Fairexpay reserves the right to amend this Refund Policy at any time. Such amendments shall be posted on our website and will take immediate effect.

Note

Fairexpay is committed to maintaining the highest standards of regulatory compliance. This page reflects current regulatory requirements and company certifications. For the most current information, please contact our compliance team.