Definitions

1. Account — the Client's and/or Company's account maintained with a bank/payment service provider, which contains personal data and is used to carry out operations.
2. Purpose — a description of the purpose of the transfer operation, in which it is desirable to indicate "Conversion".
3. Amount to be converted — the amount participating in the currency exchange operation that the Client transfers to the Company to receive the corresponding amount in the desired currency.
4. Currency exchange — the exchange of foreign currency into the national currency and/or into any other foreign currency, and/or the exchange of the national currency into foreign currency.
5. Website — an information platform where exchange rates, working hours, and these Terms are published.
6. Client/User — an individual, individual entrepreneur, legal entity, or organizational formation that carries out a currency exchange operation through the website.
7. Service — a non-cash currency exchange operation.
8. Personal data — information that allows the direct or indirect identification of an individual (name, surname, identification number, electronic communication data, etc.).
9. Registered user — a Client who has registered on the website, made a transfer with a conversion request, and whose registration data matches the information accompanying the transfer.
10. Business day — any day other than Saturday, Sunday, and official holidays, or a day when the Company does not operate (subject to prior notification).
11. Business hours — from 10:00 to 19:00, during which the Company provides uninterrupted service. Outside business hours, the Company provides customer support through a remote operator available via online messaging.
12. Noteworthy rate — an exchange rate where: the difference between buying and selling rates exceeds 3%, or the buying and/or selling rate differs by 3% or more from the official exchange rate in effect for that day.
13. Hybrid conversion — a type of conversion where the Client requests a non-cash transfer of the amount to be converted to the Company's account and a cash withdrawal of the converted amount from the Company's cashier.

Service Procedure

By using the Company's website, the Client may use both the registered user services and services available without website registration.

1. Without website registration, the Client may initiate a currency exchange operation only using a multi-currency account, which means that the converted amount will be received in the corresponding currency account of the same bank/payment service provider from which the amount to be converted was transferred to the Company.
2. If registered on the website, the Client will be able to transfer from one bank/payment service provider account registered in their name to the Company's account and request the converted amounts to be transferred to the same or another bank/payment service provider account registered in their name.

The Client is entitled to use the service available on the Company's website multiple times, without restriction.

Service Content

The Company ensures the exchange of the desired currency by receiving funds into the Client's bank/payment service provider account and transferring the corresponding amount in the requested currency, which includes the following stages:

1. The conversion order is registered in accordance with the instructions posted on the website, by transferring funds from the Client's account to the Company's bank/payment service provider account. Accordingly, for conversion purposes, the exchange rate is fixed at the exchange rate prevailing at the moment of the Client's transfer of funds to the Company.

After the transfer, the Company registers the Client's order and, no later than 30 minutes, carries out the corresponding operation by transferring the requested currency to the same bank/payment service provider account, or to another bank/payment service provider account specified by the Client, if the conversion order was made using the Client's registered user account.

1. Upon the Company's transfer of the corresponding funds to the Client's account, the Client will receive a corresponding notification. The Company does not assume responsibility for the timeframes of crediting the transferred funds to the Client's bank/payment service provider account.

Commissions

The currency exchange service does not entail additional commissions, and the cost of the corresponding currency exchange rate is limited to the amount posted on the website. Information about the currency exchange rate is posted on the website and is available before requesting the service. The rate does not exceed the noteworthy rate threshold.

Rights and Obligations

Company Rights

The Company is entitled to:

• Request additional information about the Client if required by law;
• Transmit Client information (IBAN, identification number, address) to third parties for transaction execution;
• Record and retain communication information on a legal basis;
• Refuse/decline service if required by law or if circumstances are beyond the Company's control;
• Refuse/decline service if the requested amount does not fall within established limits (if such limits exist);
• Refuse/decline service if any other objective circumstance exists;
• Suspend services if the Client violates the requirements/obligations provided by the Agreement or applicable Georgian legislation;
• In the event that a registered Client requests a hybrid conversion, the conversion application shall be deemed confirmed only if confirmed by the Company within 15 (fifteen) minutes of receiving the said application.

The Company is obligated to:

• Prominently display all necessary information on the website:
  • National Bank registration certificate;
  • Transaction cancellation rules (within 30 minutes, if the amount does not exceed 5,000 GEL);
  • Currency names;
  • Exchange rates to the nearest thousandth;
  • Commission amounts (if any);
  • Noteworthy rate (if applicable);
• Follow the Client's instructions;
• Not use the Client's funds for purposes other than those provided by applicable legislation and the Agreement;
• In case of transaction rejection/non-provision of service, return the corresponding funds to the Client immediately;
• Ensure that users are informed about technical disruptions to the website's operating system.

Client Rights and Obligations

The Client is entitled to:

• Use the services posted on the website and accessible to them;
• Register a conversion order and cancel it in accordance with the procedure provided by this Agreement;
• Notify the Company of any disruption or defect.

The Client is obligated to:

• Comply with the rules provided by this Agreement and Georgian legislation;
• Not provide the Company with misleading and/or false/improper information/documentation;
• Not intentionally/deliberately damage the Company's reputation;
• Respect the Company's copyright to all elements posted on the website;
• Compensate the Company for all losses incurred as a result of rule violations;
• Initiate conversion orders from a multi-currency account or using a registered user account;
• Maintain confidential information.

By agreeing to this Agreement, the Client expresses consent to the following:

• The Company is entitled to process their personal data in accordance with the rules and conditions established by the Company's Privacy Policy;
• They are aware and accept that they will not be able to cancel a conversion order if:
  • 30 minutes have passed since the order was registered;
  • The order amount exceeds 5,000 GEL.
• They are aware that the continuous operation of the system depends on many different factors.

Limitation of Liability

The Company takes maximum measures to develop security mechanisms; however, it is not responsible for:

• Unauthorized access to data stored on the website;
• Damage caused by third parties;
• Continuous availability of the website;
• Software defects, viruses, or errors.

By registering, the User confirms that they are 18 years of age or older, legally competent, and use the website at their own will and risk.

The Company excludes both its own and its employees' liability in the event of a breach of the Agreement and legislation by the Client.

In the event liability is established by a court, the Company's liability is limited to the value of the disputed operation.

Agreement Validity and Amendments

The terms provided by the Agreement are effective upon its publication on the website and remain in force until it is terminated or amended. The parties may additionally confirm the Agreement by signing a printed version. Termination of the Agreement does not release the User from fulfilling assumed obligations.

The Company is entitled to amend the terms of the Agreement at any time by posting information on the website. Amendments to the Agreement constitute an integral part thereof and enter into force upon publication.

Force Majeure

Neither party is liable for non-performance of obligations if caused by force majeure circumstances.

Force majeure circumstances include:

• Natural disasters;
• Fire;
• Interruption of electricity supply;
• Equipment malfunction;
• Software damage;
• Military operations;
• Administrative-legal acts;
• Operational disruptions of banking institutions/payment service providers;
• Other insurmountable circumstances.

In the event of force majeure circumstances, the party is obligated to notify the other party within 3 (three) banking days and take measures to mitigate negative consequences.

Governing Law and Dispute Resolution

Complaint:

The Client may submit a complaint regarding the quality of service to the Company's information email: fxhub@foresight.ge by sending a corresponding notification.

Dispute Resolution:

The parties agree that for the resolution of any dispute arising from this Agreement, they will first use mediation and for this purpose will apply to the LEPL Georgian International Arbitration Centre. The language of mediation is Georgian. The place of mediation is Tbilisi, Georgia.

In the event that a mediation settlement is not reached within 60 days of the submission of the mediation request, the dispute shall be resolved through arbitration.

Governing Law:

The Agreement is drafted and governed in accordance with the applicable legislation of Georgia.