Terms of Use

Monea payment services agreement

1. Terms used

1.1. Confirmed Monea Payment - Monea Payment with respect to which the User has issued to the Company a payment order and which the User has authorized in accordance with the terms of this Agreement. 

1.2. Card Account - anaccount held by the User with the  User’s Card Bank. Funds which are in the Card Account are used to execute a Monea Payment order issued by User to the Company, as well as to pay charges imposed by the Company for services rendered. 

1.3. Commission Fee – charge payable to Company for Monea Payment.

1.4. User - a natural person, who has registered as a Monea user, upon whom the terms and conditions of this Agreement are binding, and who may act as Payer or Payee when using Monea.

1.5. User’s IBAN Bank - credit institution which has opened the User’s Registered Account.

1.6. User’s Card Bank - credit institution which has opened the User’s Card Account. 

1.7. User’s Unique Identifier - User’s Registered Telephone Number, User’s Registered Email Address, User’s Registered Twitter Account Username. User shall indicate  the User’s Unique Identifier in order to identify unambiguously the other User involved in performing the Monea Payment.

1.8. Law - Law on Payment Services and Electronic Money.

1.9. Agreement - this legally binding Monea payment services agreement between User and Company on the rights, obligations, representations and warranties that User and Company both undertake and provide each other with in relation to use of Monea, and which governs the mutual relationship between User and Company, during the entire period of use of Monea. 

1.10. Mobile Device - a device operating on any of the following operating systems: iOS8, Android 4.x or any later version of the relevant operating system. 

1.11. Monea – a set ofpayment services consisting of making Monea application available to User and Monea Payment,  as well as Monea application.

1.12. Monea application - application which is a payment instrument according to the Law, which is released by the Company and which  enables Users inter alia to issue to the Company an order to execute Monea Payment and authorize Monea Payment. During the term of this Agreement, Company may update or change the functionality of Monea application in order to improve the quality of Monea Payment without acquiring User’s prior consent.

1.13. Monea Payment - payment service (money remittance) provided by the Company to User in accordance with terms of this Agreement,  whereby the Company executes an order issued by User to Company to carry out an authorized payment by transferring to Payee the amount of money specified by Payer without opening a payment account held by either the Payer or the Payee.

1.14. Payer - User who issues an order to make a Monea payment in accordance with the terms of this Agreement. 

1.15. Beneficial owner - natural person for whose benefit or in whose interests a business relationship with Company is established, or for whose benefit or in whose interests Monea is being used.

1.16. Personal Identification Number - personal identification number granted to User by the Office of Citizenship and Migration Affairs of Republic of Latvia. 

1.17. PIN Code - Personal Identification Code, a 4-digit code created by User during registration, known solely to User and intended for authorization of Monea Payments and other activities carried out by User in Monea application.

1.18. Politically Exposed Person - a person who: 

a) is entrusted or has been entrusted with prominent public functions during the last year in another EU member state or  a third country, including a person who is entrusted or has been entrusted with one of the following positions in another country: the head of the state, a member of the  parliament, the head of the government, a minister, a deputy minister or an assistant deputy minister, a state secretary or another high rank official in the government, a judge of the supreme court or a member of another high-level judicial institution whose decisions are not appealed, a judge of the constitutional court, a member of the  council or of the board of the court of auditors, a member of the council or of the board of a central bank, an ambassador, a chargé d’affaires, a high-ranking military officer, a member of the council or of the board of state-owned enterprise or another high rank person, a prominent official in a political party;

b) a parent, spouse or a person equivalent to spouse, child, his/her spouse or a person equivalent to spouse of a person referred to in Paragraph (a). A person shall be treated as equivalent to a spouse provided that the laws of the respective country contain a provision for such status;

c) is publicly known to have a business relationship with any person  referred to in Paragraph (a) hereof or a joint ownership with any such person of the share capital in a commercial company, and a natural person that is a sole owner of a legal arrangement that is known to be established for the de facto benefit of any person referred to in Paragraph (a) hereof.

1.19. Party - User or Company. 

1.20. Parties - User and Company referred to together. 

1.21. Registered Card - a VISA or MasterCard payment card issued to User with User’s name and surname imprinted on it, which the User has right to use and which is used under this Agreement by Company charging a particular amount of money required to execute Monea Payment order issued by User to the Company and to pay charges imposed by the Company for provision of payment services. 

1.22. Registered Account - an account held by the User with the User’s IBAN Bank, whose IBAN (International Bank Account Number) account number has been provided by User during registration. Whenever User is a Payee, Company transfers the amount of money specified by a Payer in the Monea Payment order to that account upon execution of the Monea Payment.

1.23. Registered Information - information submitted by User to Company in accordance with Chapter 3 of the Agreement. 

1.24. Registered Telephone Number – atelephone number of national numbering plan for use of voice telephony services, which is indicated by the User during registration, and granted and activated by an electronic communications merchant which is established in the Republic of Latvia and which, according to the information published on the following Company's website http://www.monea.me/lv-en/help-for-clients/faq/, is capable of supporting comprehensive use of Monea at the time when this Agreement becomes affective and whenever Monea is used. 

1.25. Company - Limited Liability Company Monetizator, Reg.No. 40103744993, registered address: Blaumaņa iela 5A - 10, Rīga, LV-1011, Latvia. Company is registered in licenced payment institution registry (licence No.534).  Company’s provision of payment services is supervised by Financial and Capital Market Commission of Republic of Latvia, located in Riga, Kungu iela 1, LV-1050.

1.26. Payee - User who has been specified by Payer in accordance with this Agreement as a person to whom the amount of money indicated in Payer’s Monea Payment order is to be transferred.

2. Subject-matter of the Agreement

2.1. Subject to terms and conditions of this Agreement, Company provides user a possibility to: 

2.1.1. Use Monea Application; and

2.1.2. Make Monea Payments between Monea Users. 

3. Registration

3.1. Prior to becoming a Monea User, familiarization with contents of this Agreement is mandatory. The current version of the Agreement is published on Company’s website http://www.monea.me/lv-en/terms-conditions/

3.2. In order to become a Monea User, a person must register by taking the following consecutive steps:

3.2.1. Download Monea application to Mobile Device, thus creating your Monea application profile;

3.2.2. Once again familiarize yourself with the terms and conditions of this Agreement and by pressing “I Agree” option, explicitly accept the terms and conditions of the Agreement and acknowledge them as binding upon you;

3.2.3. By using Monea application, indicate the following true information, which thus becomes an integral part of this Agreement: 

3.2.3.1. your name and surname using letters of Latvian alphabet; 

3.2.3.2. your Registered Account;

3.2.3.3. your Personal Identification Number;

3.2.3.4. your Registered Telephone Number;

3.2.4. After completion of the activities referred to in Articles 3.2.1-3.2.3, Company sends an SMS to the Registered Telephone Number with a code. You shall either manually enter the code in the appropriate dialogue box in your Monea application profile or the code will be entered automatically, depending on operating system used on the particular Mobile Device. 

3.2.5. Create a four digit PIN Code in your Monea application profile, which you shall use hereafter to access your Monea application profile as well as to authorize activities performed in Monea application, including authorization of Monea Payments;

3.2.6. Submit the following true information by using payment service provider’s payment site, which ensures confidentiality of payment card data by isolating the entering and processing of payment card data from Monea application:

3.2.6.1. Name and surname as indicated on the Registered Card;

3.2.6.2. Number of the Registered Card;

3.2.6.3. Expiry date of the Registered Card; 

3.2.6.4. CVC2 or CVV2 code of the Registered Card.

3.2.7. Person agrees that after successful completion of activities referred to in Articles 3.2.1-3.2.6., Company will charge 0.10 EUR (10 cents) from the Registered Card for purposes of verification of personal identity and prevention of risk of a fraud;  

3.2.8. After Company has received the amount referred to in Article 3.2.7. in the Company’s bank account held with a credit institution operating in Latvia, Company transfers the said amount of money to the person’s Registered Account within 1 (one) working day;

3.2.9. After successful completion of activities referred to in Articles 3.2.1-3.2.8., Company sends an SMS to the Registered Telephone Number with the following content: “Congratulations! You have successfully registered for the use of MONEA! Monea's payment service agreement comes into force-You can start transferring and receiving money”. Person becomes a User as soon as Company sends the aforementioned SMS. 

3.3. Having regard for  the obligations of Company in the area of prevention of money laundering and terrorism financing as stipulated by laws and regulations, as well as considering the technical and safety requirements, Company retains the rights to refuse registration of a new User (i.e., a right to withhold sending SMS referred to in Article 3.2.9.) even if the person has taken all the steps set out in Chapter 3 of the Agreement, without an obligation to substantiate refusal of a registration. 

3.4. If the User wishes to indicate his/her User email address as the Unique Identifier in addition to Registered Telephone Number, User:

3.4.1. Enters his/her email address using section “Settings” in User’s Monea application profile. After entering the email address, Company sends to that email address an activation link which the User must activate. The email address entered by User is considered User’s Registered Email Address as soon as information about it appears in the “Settings” section  of User’s Monea application profile.

3.5. If the User wants to indicate his/her Twitter account username as the Unique Identifier in addition to Registered Telephone Number, User: 

3.5.1. In the “Settings” section of the User’s Monea Application profile, selects an option to add Twitter account username. Depending on OS used on Mobile Device, Twitter account username which is already in use on the said Mobile Device will be either automatically indicated as User’s Twitter account username or the User must manually enter his/her Twitter account username and password in the appropriate dialogue box in Monea application profile.  User’s Twitter account username is considered User’s Registered Twitter Account Username as soon as information about it appears in section “Settings” of User’s Monea application profile.

3.6. User may at any time make changes related to Registered Information on User’s name and surname, Registered Account, or Registered Card by using User’s Monea application profile. User agrees that upon performing any of the aforementioned changes, every time such a change is made, Company charges 0.10 (10 cents) from the Registered Card  for purposes of verification of personal identity and prevention of risk of a fraud. After Company has received the said amount of 0.10 EUR in the Company’s bank account held with a credit institution operating in Latvia, Company shall transfer the said amount of 0.10 EUR to the person’s Registered Account within 1 (one) working day. User may resume using Monea as soon as information about successful payment of the 0.10 EUR referred to in this Article of the Agreement has appeared in section “Statement” of User’s Monea application profile. 

3.7. User may at any time renew his/her PIN Code by using User’s Monea application profile. User agrees that every time the PIN Code is renewed, Company charges 0.10 EUR (10 cents) from the Registered Card for purposes of verification of personal identity and prevention of risk of fraud. After Company has received the said amount of 0.10 EUR in the Company’s bank account held with a credit institution operating in Latvia, Company shall  transfer the said amount of 0.10 EUR to the person’s Registered Account within 1 (one) working day. User may finalize renewal of the PIN Code and resume using Monea when, as the result a successful transfer of 0.10 EUR, he/she has received the code indicated by Company in the relevant payment order and has entered it in the appropriate dialogue box of Monea application. 

3.8.User may at any time change User’s Registered Email Address by using User’s Monea application profile.  User must enter the new email address using section “Settings” in User’s Monea application profile. Once the new email address has been entered, Company shall sendto that email address an activation link, which the User must activate. The new email address entered by User is considered User’s Registered Email Address as soon as information about it appears in the “Settings” section of User’s Monea application profile.

3.9. If the User’s name and/or surname is changed, User must immediately make the relevant changes in Registered Information by using his/her Monea Application profile as provided in Article 3.6 of this Agreement.

3.10. If User wishes to change User’s Registered Telephone Number and/or Personal Identification Number and/or Registered Twitter Account Username, User must either apply in person at Company’s registered address presenting a personal identification document, or fill out a respective form provided by the Company, sign it with User’s secure e-signature and send it to Company’s  email address. 

3.11. Changes made in relation to Registered Information shall become an integral part of this Agreement.

3.12. Taking into consideration Company’s obligations in areas including but not limited to prevention of money laundering and terrorism financing as stipulated by laws and regulations, Company retains the right to contact the User at any time, before completion of registration as well as after the registration, and request additional information stating the deadline and procedure for submission of information. If User fails to submit the information requested by Company in the manner and scope indicated by Company, the Company retains the right to block User’s possibility to use Monea in accordance with Article 6 of the Agreement and/or terminate this Agreement unilaterally in accordance with Article 15. 

3.13. At the time of registration as well as during the entire period of validity of this Agreement, the Registered Account and Card Account must be held with a credit institution which is capable of supporting comprehensive use of Monea in accordance with this Agreement and which is listed on the following Company’s website http://www.monea.me/lv-en/help-for-clients/faq/.  If User’s Registered Account and/or Card Account are held with a credit institution which is no longer listed in the aforementioned list of credit institutions published on Company’s website, Company shall immediately inform User. In order to continue using Monea, User must make changes to Registered information on Registered Account and/or Card Account. Company ensures that User’s rights to execution of a Monea Payment confirmed in accordance with this Agreement are not violated. 

4. Entry into force and duration of the Agreement

4.1. Agreement shall enter into force as soon as the Company, pursuant to a successful Registration, has sent the following SMS to User’s Registered Telephone Number: “Congratulations! You have successfully registered for the use of MONEA!”. Company has no obligation to enter into Agreement with a person even when the person has performed all the activities referred to in Chapter 3 of the Agreement, and Company is under no obligation to substantiate a refusal to enter into Agreement. 

4.2. Articles 3, 11, 13, and 14 come into force as soon as person has downloaded Monea application. 

4.3. Agreement is valid for an indefinite period. 

5. REPRESENTATIONS AND WARRANTIES 

5.1. USER PROVIDES THE FOLLOWING REPRESENTATIONS AND WARRANTIES WHICH MUST BE VALID AND TRUE AT THE TIME OF REGISTRATION AND DURING THE ENTIRE PERIOD OF USE OF MONEA AND VALIDITY OF THIS AGREEMENT:  

5.1.1. USER IS A NATURAL PERSON, RESIDENT OF THE REPUBLIC OF LATVIA WITH A PERSONAL IDENTIFICATION NUMBER ISSUED BY THE OFFICE OF CITIZENSHIP AND MIGRATION AFFAIRS OF THE REPUBLIC OF LATVIA;

5.1.2. USER IS THE OWNER AND/OR LAWFUL USER OF THE REGISTERED ACCOUNT, REGISTERED CARD, AND CARD ACCOUNT;

5.1.3. USER IS THE LAWFUL POSSESSOR OF THE PARTICULAR MOBILE DEVICE USED TO DOWNLOAD MONEA APPLICATION;

5.1.4. USER IS THE LAWFUL USER OF THE REGISTERED TELEPHONE NUMBER; 

5.1.5.USER IS THE BENEFICIAL OWNER IN RELATION TO USE OF MONEA;

5.1.6. USER IS NOT A POLITICALLY EXPOSED PERSON. IF, HOWEVER, USER IS A POLITICALLY EXPOSED PERSON AT THE TIME OF ENTERING INTO THIS AGREEMENT OR BECOMES A POLITICALLY EXPOSED PERSON DURING THE TERM OF VALIDITY OF THIS AGREEMENT, THEN USER SHALL IMMEDIATELY NOTIFY COMPANY ABOUT IT IN WRITING AND SHALL SUBMIT ANY ADDITIONAL INFORMATION REQUESTED BY COMPANY;

5.1.7. USER IS AT LEAST 16 (SIXTEEN) YEARS OLD;

5.1.8. USER POSSESSES THE LEGAL CAPACITY AND AT THE MOMENT OF REGISTRATION IS NOT UNDER INFLUENCE OF ANY ALCOHOLIC, NARCOTIC, PSYCHOTROPIC OR TOXIC SUBSTANCES;

5.1.9. USER DOES NOT AND SHALL NOT USE, AND AS FAR AS POSSIBLE WILL ENSURE THAT THIRD PARTIES DO NOT AND SHALL NOT USE MONEA FOR ILLEGAL PURPOSES INCLUDING MONEY LAUNDERING AND TERRORISM FINANCING;

5.1.10. USER SHALL NOT USE MONEA IN CONNECTION WITH ECONOMIC ACTIVITY OR TO PAY FOR GOODS AND/OR SERVICES;

5.1.11. USER WILL USE MONEA SOLELY FOR MUTUAL PAYMENTS BETWEEN PRIVATE INDIVIDUALS FOR PRIVATE PURPOSES WITHIN THE LIMITS OF THE AMOUNT AND INTENSITY OF MONEA PAYMENTS SET BY COMPANY.  

5.2. In order enable Company to verify that aforementioned representations and warranties are valid not only at the time of Registration, but also during the entire period of validity of this Agreement:

5.2.1. User is obligated to give representations and warranties referred to in Article 5.1 at least once during the calendar year upon receiving a respective request from the Company. Unless the Company has indicated in the request a specific manner in which the representations and warranties should be given (for example, by performing certain activities in a dialogue box), the User may give representations and warranties by using any of the communication methods stated in Article 12 of the Agreement. 

5.2.2. User agrees that Company charges 0.10 EUR (10 cents) from person’s Registered Card at least once, but not more than four times during a calendar year in order to ensure Company’s compliance with the obligations stipulated in rules and regulations in area of prevention of money laundering and terrorism financing.  After Company has received the said amount in the Company’s bank account held with a credit institution operating in Latvia, Company shall transfer the said amount to the person’s Registered Account within 1 (one) working day.

5.3.If User fails to comply with requirements of Article 5.2.1 of the Agreement or the Company is unable to perform steps referred to in Article 5.2.2 of the Agreement, Company has a right to block User’s possibility to make Monea Payments until User has complied with Article 5.2.1 and / or Company has been able to perform steps referred to in Article 5.2.2 of the Agreement, or to terminate Agreement unilaterally with immediate effect without being obliged to compensate losses possibly incurred by the User. 

6. User’s authentication, confirmation of transactions and other security measures

6.1. Every time when User starts using Monea application profile or the User’s Monea Application profile has been idle for at least 15 minutes, the User must perform authentication by entering in the respective Monea application dialogue boxesthe following User’s authentication factors: User’s Registered Telephone Number and PIN Code created in accordance with Article 3.2.5 of the Agreement.

6.2. Similarly, after initial User’s authentication in accordance with Article 6.1.,  the User must confirm all activities performed with Monea application, including but not limited to issuing a Monea Payment order to the Company in accordance with Article 9.1 of Agreement, by entering PIN Code created in accordance with Article 3.2.5 of Agreement in the respective dialogue boxes of Monea application. Effect of entering PIN Code while using Monea is equal to User’s signature, providing User’s consent to any and all activities performed by User with Monea application. As soon as correct PIN Code has been entered by the User, any User’s activity with Monea application is binding upon the Parties. 

6.3. If User has acted in accordance with Articles 6.1 and 6.2 of the Agreement, Company, to the extent permitted by the existing applicable legislation, has the right to believe that User has been authenticated and usage of Monea application has been authorized, including but not limited to considering Monea Payment order issued by User as authorized.

6.4. Unless it is explicitly provided in the Agreement otherwise and as far as permitted by the existing applicable legislation, if the User denies having issued a Monea Payment order and/or authorizing an executed Monea Payment or any other activity performed or initiated with Monea application, the proof at Company’s disposal that User has performed steps referred to in Articles 6.1 and 6.1 of the Agreement serves to the extent permitted by applicable laws and regulations as evidence that User has been authenticated and has authorized a Monea Payment or any other activity performed or initiated with Monea application, or serves as proof that User has acted unlawfully, or knowingly (deliberately) or with gross negligence failing to comply with one or more obligations envisaged in this Agreement in relation to usage and storing of authentication factors and/or Mobile Device and/ or SIM card of the Registered Telephone Number. 

6.5. PIN Code created in accordance with Article 3.2.5 of this Agreement is confidential information, and User undertakes to store it carefully and not to disclose it to third parties, as well as to make every effort to prevent PIN Code becoming available to third parties. It is User’s duty to keep PIN Code safek, including a duty to ensure that PIN Code is not stored in the Mobile Device or the SIM card of the Registered Telephone Number, or together with the Mobile Device or the SIM card of the Registered Telephone Number, as well as a duty to change the PIN Code regularly but not less frequently than requested by the Company. 

6.6. It is User’s duty to ensure that, as a result of his/her actions or failure to act, third parties have not gained access to User’s Monea application profile or have had the opportunity to confirm Monea Payments by using User’s Monea Application profile and/or User’s authentication factors.

6.7. It is User’s duty to ensure that Mobile Device to which Monea application has been downloaded, as well as SIM card of the Registered Telephone Number used on the Mobile Device do not come into possession of third parties without User’s consent, which might result in unlawful usage of Monea by third parties. If User personally allows third party access to his/her Mobile Device or SIM card of the Registered Telephone Number used on the Mobile Device, it is User’s duty to ensure that the said third party cannot use User’s authentication factors referred to in Article 6.1 or perform activities in User’s Monea Application profile, including but not limited to issuing orders to Company to execute Monea Payments and/or authorize Monea Payments.

6.8. It is User’s duty to ensure that third parties do not have the opportunity to use User’s Registered Email Address and/or User’s Registered Twitter Account Username. If User grants a third party rights to use User’s Registered Twitter Account Username or User’s Registered Email Address, it is User’s duty, prior to granting such rights, to change information about User’s Registered Email Address and User’s Registered Twitter Account Username in accordance with Chapter 3 of this Agreement. 

6.9. It is User’s duty to familiarize him/herself at least once a month with the information in the “Statement” section of User’s Monea Application profile as well as with the information provided by User’s Card Bank in the form of a Card Account statement or overview, as well as with the information provided by User’s IBAN Bank in the form of User’s Registered Account overview or statement, and to notify Company immediately in accordance with Article 6.10 about every incorrectly or defectively executed Monea Payment or suspected unlawful usage of Monea. 

6.10. User is obligated to immediately inform the Company by phone: +371 27679708, or by electronically filling in and submitting the problem reporting form which is published in Company’s website http://www.monea.me/lv-en/help-for-clients/faq/ in any of the following cases:

6.10.1. User’s PIN Code has become known or might have become known to a third party; 

6.10.2. User’s Monea application profile has become or might have become accessible to third party as a result of but not limited to loss, theft or any other illegal activity;

6.10.3. User’s Mobile Device or SIM card of Registered Telephone Number has become or might have become accessible to third party without User’s authorization as a result of but not limited to loss, theft or any other illegal activity; 

6.10.4. Unauthorized use of Monea  has occurred or is reasonably suspected to have occurred or is reasonably suspected to occur in the future; 

6.10.5. Usage of Monea for fraudulent intents has occurred or is reasonably suspected to have occurred or is reasonably suspected to occur in the future. 

6.11. Upon receiving information referred to in Article 6.10., the Company immediately blocks User’s Monea application profile. 

6.12. Company retains rights to block User’s Monea application profile on its own initiative: 

6.12.1. If Company suspects an unauthorized use of Monea or use of Monea for illegal purposes including, but not limited to Company suspecting that User’s PIN Code has become known or might have become known to third parties, or suspecting that User’s Mobile Device or SIM card of the Registered Telephone Number or User’s Monea application profile has come or might come into possession of third parties, including but not limited to a situation when a wrong PIN Code has been entered for 5 (five) consecutive times when either performing User authentication or authorizing an individual transaction;

6.12.2. If it is necessary in order to ensure the security, immunity, and confidentiality of transactions executed by User and/or other Monea Users, as well as in order to prevent the future losses of Company, User or other Monea Users;

6.12.3. If it is necessary in order to ensure security of Monea application; 

6.12.4. If User does not comply with provisions of Agreement.

6.13. If Company has exercised the right to block User’s Monea application profile according to Articles 6.11. and 6.12. of this Agreement, Company, whenever it is possible,  notifies User about blocking the Monea application profile and reasons thereof prior to blocking of the Monea application profile, except for cases when such notification would endanger objectively justified security considerations or is prohibited in accordance with the laws and regulations of Republic of Latvia.

6.14. Company is not liable for loss incurred by User as a result of blocking User’s Monea application profile in accordance with provisions of this Agreement.  

6.15. Company unblocks User’s Monea  profile as soon as Company has made sure that grounds for blocking User’s Monea profile no longer exist  and respective instructions have been received from the User. User can submit such instructions either in person at Company’s registered address (presenting a personal identification document) or electronically by sending to Company instructions signed with User’s secure electronic signature.

7. Fees payable for the use of Monea

7.1. Use of Monea application in accordance with this Agreement is free of charge for the Users. 

7.2. Payer pays to the Company a Commission Fee for every confirmed Monea Payment in the amount stipulated at that moment of confirmation of the particular Monea Payment in the following Company’s website  http://www.monea.me/lv-en/help-for-clients/transfers/, which is an integral part of this Agreement. 

7.3. As soon as User has confirmed Monea Payment in accordance with this Agreement, Company charges Commission Fee from User’s Registered Card. 

7.4. If Company, after requesting the said amount of money from User’s Registered Card in accordance with Article 7.3 of this Agreement, is not able to retrieve an amount of money equivalent to a Commission Fee from the Registered Card because, among other things, there are insufficient funds in Card Account, Company retains rights not to execute the confirmed Monea Payment. Company will indicate reasons for not executing the payment in User’s Monea Application profile section “Statement”, and the particular Monea Payment shall not considered as non-executed or incorrectly executed payment.    

7.5. Upon confirming Monea Payment in accordance with this Agreement, the User gives its irrevocable consent to the amount of Commission Fee as set out in Article 7.2 of the Agreement, and gives its irrevocable consent to Company to charge and receive the Commission Fee from User’s Registered Card as soon as User has confirmed the Monea Payment. Unless this Agreement states otherwise, by confirming Monea Payment in accordance with this Agreement, User’s obligation to pay Commission Fee becomes unalterable and irrevocable and, unless Parties agree in writing otherwise, it is not subject to netting and cannot be affected by events and circumstances which occur after confirming Monea Payment, including but not limited to the fact that User’s obligation to pay Commission Fee remains valid if Company has performed all the necessary activities to execute a Monea Payment confirmed by User, but Monea Payment cannot be executed within 2 (two) working days for reasons unrelated to Company’s actions.   

7.6. Company reverts the Commission Fee to the Payer within 4 (four) working days by transferring it to User’s Registered Account, if the person indicated by Payer as Payee is not a User at the moment of confirmation of Monea Payment and does not become a User within 3 (three) working days after confirmation of Monea Payment.

7.7. Company reverts the Commission Fee to the Payer immediately by transferring it to User’s Registered Account in cases referred to in Article 10.1 of the Agreement.

7.8. Commission Fee is the only and complete reimbursement to Company for execution of Monea Payment and it covers all charges applied by User’s (both Payee’s and Payer’s) Card Bank and/or IBAN Bank in relation to execution of Monea Payment, as well as taxes applicable to execution of Monea Payment, should there be any. 

7.9. User agrees that Company retains rights to change the amount of Commission Fee unilaterally by notifying the User 2 (two) months in advance.  Company may disregard the notification period if the changes of Commission Fee amount are favourable to the User. Setting a Commission Fee for new services that have not been previously rendered by the Company are not considered as changes unfavourable to the User. 

8. Limits of the amount and intensity of Monea Payment 

8.1.  Limits of the amount and intensity of Monea Payment set by the Company and displayed in section “Settings”, subsection “Security” of the User’s Monea application profile at the moment of confirmation of the particular Monea Payment are binding to Monea Users. 

8.2. User is entitled to set his/her personalized limits of the amount and intensity of Monea Payment by using User’s Monea Application profile, provided that these limits do not exceed the limits of the amount and intensity of Monea Paymentset by the Company. Limits of the amount and intensity of Monea Payment set by the User enter in force as soon as these limits are displayed in section “Settings”, subsection “Security” of the User’s Monea application profile. 

8.3.If the limits set by User in accordance with Article 8.2. no longer comply (i.e. they exceed) the limits of the amount and intensity of Monea Payment, limits set by the User are immediately automatically changed to ensure their compliance with limits of the amount and intensity of Monea Payment. Changes made in relation to limits of the amount and intensity of Monea Payment do not apply to Monea Payments, which have already been confirmed. 

8.4. User  of Monea, filling in the Customer Questionnaire, has the opportunity to increase the daily and monthly limits of the amount and intensity of Monea Paymentset by the Company (above the standard maximum limits set by the Company: the maximum daily limit is EUR 250.00 and the maximum monthly limit is EUR 500.00). To fill in the Customer's questionnaire, User of Monea have to contact the Company by phone +371 27679708 or by electronically filling in and submitting the information reporting form which is published in Company’s website http://www.monea.me/lv-en/help-for-clients/faq/.

9. Execution of Monea Payments

9.1. Monea Payment is executed in accordance with the following procedure:

9.1.1. By using User’s Monea application profile, User issues an order to the Company to execute a certain payment: to transfer an amount of money indicated by Payer to the Payee, providing in that order the following information, which is entered in the respective dialogue boxes of Monea Application profile:

9.1.1.1. Monea Payment Payee’s Registered Telephone Number or Registered Email Address or Registered Twitter Account Username, which is considered as Payee’s Unique Identifier;

9.1.1.2. The amount of money, which User, acting as a Payer, wishes to transfer to Payee;

9.1.1.3. A description of the relevant Monea Payment intended for the Payee, if the User, which is acting as Payer, wishes to provide such information to the Payee. To the extent permitted by the applicable legislation, Company is not liable for content such information. 

9.1.2. By issuing an order to the Company to execute a Monea Payment in accordance with Article 9.1.1,  User, within the scope of issuing an order (before actual execution of Monea Payment) gives his/her consent (authorizes) Monea Payment, confirming the respective Monea Payment by entering the PIN Code as provided for in the Article 6.2. above. For the purposes of this Agreement, the moment of authorization of Monea Payment coincides with moment of receipt of Monea Payment order.

9.1.3. A Monea Payment in relation to which all the steps referred to in Articles 9.1.1 and 9.1.2 have been performed by User, is considered a confirmed Monea Payment and cannot be revoked by User.

9.1.4. In order to execute a confirmed Monea Payment, Company, by using Payer’s Registered Card, charges from Payer’s Card Account an amount which is the total sum of the amount which User acting as Payer wishes to transfer to Payee as set out in Article 9.1.1.2, and Commission Fee which User undertakes to pay to Company as set out in Article 7.2.  By accepting this Agreement during registration, User gives an irrevocable authorization to Company for the entire period of validity of this Agreement to instruct User’s Card Bank to withdraw from the User’s (Payer’s) Card Account an amount, which is equal to the total sum in relation to confirmed Monea Payment as set out in this Article. 

9.1.5. Upon receiving a confirmation from User’s Card Bank that there are sufficient funds in User’s Card Account to execute a Monea Payment confirmed by the User (including Commission Fee), Company transfers the amount of money equivalent to amount referred to in Article 9.1.1.2. to Payee’s Registered Account.

9.2. User agrees that Company may transfer the amount referred to in Article 9.1.1.2 to Payee’s Registered Account immediately after Company has received the confirmation from User’s Card Bank referred to in Article 9.1.5, before the Company has actually received the total sum referred to in Article 9.1.4 to Company’s account held with a credit institution. If Company transfers the amount of money to Payee’s Registered Account before the total sum referred to in Article 9.1.4 has been actually received in the Company’s bank account held with a credit institution, Company acquires rights of claim against the User (Payer) in the amount equal to the sum of the money that Company has transferred to Payee’s Registered Account and Commission Fee minus the actual amount of money received by Company from User in Company’s bank account in relation to the execution of the relevant Monea Payment. 

9.3. By using Monea application profile, User may send Monea Payment request to another User or a person not yet registered as User, requesting the relevant User or person to transfer a certain amount of money to User by using Monea Payment. Receiving a Monea Payment request is not considered a payment initiated by payee or direct debit within the meaning of Law and does not create obligations and duties to its receiver in relation to execution of the particular Monea Payment request. If receiver of Monea Payment request chooses to execute the particular Monea Payment request, he/she must create a Monea Payment in accordance with the procedure of Article 9.1 of Agreement. 

9.4. Monea Payment can only be made between Monea Users, and it is the User’s duty to make sure that the particular person is a Monea User prior to confirming Monea Payment. Person who has become a User can be identified by Monea icon visible next to User’s telephone number, Twitter account username or email in the address book of Registered Telephone Number or Mobile Device in which the Registered Telephone Number is used. 

9.5. If User wishes to make a Monea Payment to or request a Monea Payment from a person who is not a Monea User, then User has the option to invite this particular person to become a Monea User via User’s Monea application profile. Since a person who is not a Monea User has not been granted the User’s Unique Identifier and, accordingly, Company has not identified this particular person, Company, to the extent permitted by applicable laws and regulations, does not incur any liability, including liability for non-executed or incorrectly executed payment which might have occurred as a result of User being mistaken about the identity of person invited. 

9.6. If User issues an order to the Company to execute a payment to a person who has not become a Monea User and this person fails to become a Monea User within 3 (three) working days after the User has confirmed Monea Payment, Company shall transfer the total amount referred to in Article 9.1.4. to the User who had issued Monea Payment order within 4 (four) working days after Monea Payment confirmation, and this particular Monea Payment is not deemed to be non-executed or incorrectly executed, and to the extent permitted by applicable laws and regulations, the Company shall not incur any liability in connection with such Monea Payment order.  

9.7. Company ensures execution of Monea Payments solely in EUR (euro). Company does not perform currency conversion of the payment amount. If total amount of money referred to in Article 9.1.4 is on User’s Card Account in a currency other than EUR, the currency conversion can be performed by User’s Card Bank based on existing agreement between User and User’s Card Bank. 

9.8. The maximum time of execution of Monea Payment is two working days from the moment of receipt of Monea Payment order.

9.9. Monea Payment order is considered received at the moment when Monea Payment has become a confirmed Monea Payment in accordance with Article 9.1.3 of the Agreement. User may not revoke a received Monea Payment order.  

9.10. Company is obligated to execute only confirmed Monea Payment. 

9.11. Company executes Monea Payment solely based on the User’s (Payee’s) Unique Identifier indicated in the Monea Payment. If the User has been mistaken when indicating Payee’s Unique Identifier, Company   shall not be liable for non-executed or incorrectly executed Monea payment or any other losses incurred by User, including but not limited to Company not being obligated to reimburse to the User (Payer) either the amount of money indicated in Article 9.1.1.2 or the Commission Fee.

9.12. It is User’s duty to ensure the correctness of information supplied in accordance with Articles 9.1.1.2. and 9.1.1.3. of the Agreement, and Company is not liable for any loss and/or damages User might have incurred as a result of issuing to the Company a Monea Payment order containing errors in aforementioned information. 

9.13. If User has been mistaken while supplying information referred to in Article 9.1.1., Company shall endeavour to retrieve the non-executed or incorrectly executed Monea Payment, and it is User’s duty to pay the expenses incurred by the Company while trying to retrieve the non-completed or incorrectly executed Monea Payment, within two weeks after receiving a respective invoice issued by the Company. 

9.14. Monea Payment is considered to be executed when the amount of money referred to in Article 9.1.1.2. of the Agreement has been transferred to Payee’s Registered Account regardless of whether Payee’s payment service provider has made the said amount available to Payee. 

9.15. Company retains the right   to refuse to execute a Monea Payment confirmed by the User in the following cases: 

9.15.1. Non-compliance with terms of the Agreement, including but not limited to: 

9.15.1.1. Company has not received from the User’s Card Bank a confirmation referred to in Article 9.1.5 of Agreement regarding sufficiency of funds in User’s Card Account for the execution of the Monea Payment confirmed by the User (including Commission Fee). 

9.15.1.2. The amount of money indicated by User in Monea Payment order as provided in Article 9.1.1.2 of Agreement exceeds the applicable limits of the amount and intensity of Monea Payment;

9.15.1.3. Execution of the Monea Payment order would result in exceeding of the limits of the amount and intensity of Monea Payment as set by the User; 

9.15.2. Company blocks User’s Monea application profile in accordance with Chapter 6 of the Agreement.

9.15.3. Applicable laws and regulations prohibit execution of Monea Payment or it is not possible to execute the particular Monea Payment because of Company’s obligations in area of prevention of money laundering and terrorism financing.  

9.16. Information about the reasons for refusal to execute Monea Payment as well as information about the procedure of correction errors that served as a basis for refusal to execute Monea Payment is provided by the Company to Payer no later than within the deadline stipulated in Article 9.8 in section “Statement” of User’s Monea Application profile.

9.17. If Company has refused to execute Monea Payment order in any of the cases described in Article 9.15, Monea Payment order is not considered confirmed. 

9.18. At least once a month Company shall provide User with a report on his/her Monea Payments. Such report is made available in the “Statement” section  of User’s Monea Application profile.

9.19. To the extent permitted by applicable laws and regulations, Company does not guarantee or take responsibility for continuous operation and/or availability of User’s Monea application profile, enabling user to issue Monea Payment orders to Company.

10. Liability for losses and conditions excluding liability

10.1. Where the User notifies Company that a Monea Payment has been executed incorrectly, is non-executed or has not been authorized in accordance with this Agreement: 

10.1.1. Company shall take all the steps necessary to clarify whether User’s assertion is well-founded, verifying among other things, whether Monea Payment has been authenticated, correctly registered and recorded in accounts, as well as whether technical errors or other deficiencies might have affected it; 

10.1.2. Where, as the result of performing steps referred to in Article 10.1.1, the Company ascertains that Monea Payment has been executed incorrectly and / or has not been authorized and / or is non-executed, and if the User has notified Company of such Monea Payment, in relation to which the User had information at its disposal to the extent and in the manner provided for in the Agreement, no later than 13 (thirteen) months after money has been withdrawn from the User’s Card Account, the Company shall without delay compensate User for direct losses by refunding the amount of the unauthorized and / or incorrectly executed and / or non-executed payment or by restoring the state of User’s Registered account to the state in which it was before the unauthorized payment and / or in which it would have been had the incorrect payment transaction not taken place;

10.1.3. Where the Payee’s payment service provider has received the amount of money transferred by Company in the course of execution of the relevant Monea Payment, Payee’s payment service provider, and not the Company, shall be liable for non-executed and/ or incorrectly executed Monea Payment. 

10.2. Where the User has suffered loss in connection with unauthorized payments as a result of loss, theft or otherwise unlawful misappropriation of Monea application (also the User’s Monea Application profile), including the User's Mobile Device or SIM card of the Registered Telephone Number, or where the User has failed to keep the personalized security features referred to in Section 6 of the Agreement and / or the Mobile Device and SIM card of the Registered Telephone Number safe and therefore permitting misappropriation of User’s Monea application (including User’s Monea application profile), the Company shall not compensate User losses of up to EUR 150 (one hundred and fifty euros) to the User. The said limitation of Company’s liability shall not apply to losses suffered by User after the User had notified Company in accordance with Article 6.10 or where the Company had failed to provide User with a possibility to notify Company regarding circumstances referred to in Article 6.10, unless the User had acted unlawfully. 

10.3. Company shall not compensate losses suffered by User in connection with unauthorized payments where the User has acted unlawfully, or:

10.3.1. The User knowingly (deliberately) or as the result of gross negligence:

10.3.1.1. Has used Monea contrary to the terms of this Agreement on use of Monea, including but not limited to acting contrary to provisions of Articles 6.5, 6.6 or 6.7 of the Agreement; and/or

10.3.1.2. Has failed to inform the Company about the occurrence of circumstances referred to in Article 6.10 in accordance with the Agreement. 

10.4. To the extent permitted by applicable laws, Company is not liable for loss or damage suffered by User as a result of Monea Payments, which are non-executed or incorrectly executed due to the fault of a third party, including but not limited to technical issues of User’s IBAN Bank or User’s Card Bank.

10.5. Company shall not incur liability prescribed by Law or this Agreement in the event abnormal unforeseeable circumstances beyond the Company’s control the consequences of which could not have been avoided by the Company because of but not limited to: 

10.5.1. occurrence of force majeure;

10.5.2. measures implemented by public authorities;

10.5.3. war or threat of war, riots or unrest;

10.5.4. disruptions of postal operations,  operation of automatic data processing, data transmission and other electronic means of communication or power supply outages beyond Company’s control;

10.5.5. occurrence of fire or similar natural disaster;

10.5.6. issues of a technical nature affecting functioning of Monea application;

10.5.7. industrial activities, such as strikes, lockouts, boycotts and blockades, regardless of whether Company participates in them.

10.6. In any event, regardless of the legal basis for damages claim and extent of the damages, to the maximum extent permitted by applicable law, liability of Company shall be limited to direct damages suffered by User and the maximum amount of Company’s liability shall under no circumstances exceed EUR 150 (one hundred and fifty euros).  

10.7. To the maximum extent permitted by applicable law, none of the Parties to this Agreement is liable for indirect, incidental, special, punitive or consequential damages, loss of profits and revenue or any other damages unless liability for such damages is explicitly provided for by this Agreement, except for:

10.7.1. Where the representations and warranties given by the User in accordance with Article 5 of this Agreement are false at the moment of conclusion of the Agreement or become false during the period of validity of the Agreement, as well as where the User has submitted false information to Company within the process of registration or while using Monea, User is liable for any and all losses incurred by third parties or the Company. 

11. Processing of personal data

11.1. At the time of registration as well as during the entire period of validity of this Agreement, the User personally submits his/her personal data to Company as well as Company can, pursuant to a User’s consent, obtain User’s personal data from third parties (credit institutions, payment institutions, and others). 

11.2. Company, pursuant to Article 11.1., obtains at least the following personal data:

11.2.1. User’s name and surname;

11.2.2. User’s Personal Identification Number; 

11.2.3. IBAN number of the User’s Registered Account;

11.2.4. User’s Registered Telephone Number;

11.2.5. Name and surname as indicated on the Registered Card. 

11.3. User consents that Company, pursuant Article 11.1., obtains and processes his/her personal data, including but not limited to consenting to Company’s rights to record any information (including telephone conversations) obtained in accordance with this Agreement, as well as rights to register and store the information on activities performed by User under this Agreement, and the rights to use these records to justify and prove, amongst other, execution of Monea Payments, if necessary.

11.4. User consents that Company is entitled to transfer User’s personal data at its disposal to third parties involved (or potentially involved) in execution of Monea Payments (for example, to International card organisations, Payee’s payment service provider, technical provider of payment systems, intermediary bank, etc.). 

11.5. User consents that User’s Card Bank and/or User’s IBAN Bank transfer to Company the data necessary for identification of User, as well as data obtained during User’s due diligence, which have lawfully come at the disposal of the aforementioned credit institutions, i.e., by establishing business relationships between that credit institution and User and during business relationships between that credit institution and the User. 

11.6. Company is allowed to notify the User about changes, improvements or any other issues related to use of Monea by calling, sending SMS to User’s Registered Telephone Number, as well as by sending a mail to User’s electronic mail address or by sending information to User’s Monea application profile.

11.7. User confirms that he/she, prior to inviting a new User to register with Monea,  has received consent from the relevant data subject (the invited new User) regarding transferring his/her data to Company. 

12. Communication between Parties  

12.1. Unless this Agreement states otherwise, User submits notifications, complaints and any other information to Company using one of the following options of his/her choosing: in writing, sending a registered mail to Company’s registered address or by courier (receiving confirmation on receipt of mail, signed by the Company), or mailing electronically to Company’s email signed with User’s secure electronic signature.

12.2. Company publishes its registered address and email on the following Company’s website  http://www.monea.me/lv-en/help-for-clients/faq/.  Where the registered address or email address has been changed, Company immediately makes the relevant changes on the aforementioned website. Whenever communicating with Company as provided in Article 12.1 of the Agreement, it is User’s duty to verify Company’s registered address and/or email by visiting the Company’s website referred to in this Article. 

12.3. Unless this Agreement states otherwise, Company may submit notifications, complaints and any other information to User using one of the following options of its choosing: sending to the section “Notifications” of User’s Monea application profile, sending an SMS to User’s Registered Telephone Number, mailing electronically to User’s Registered Email Address signed with secure electronic signature, or by sending a popup notification or through a dialogue box on User’s Registered Telephone Number.

13. Trademarks, design and patents

13.1. This Agreement does not grant User any rights to trademarks, design and/or patents related to Monea, or the rights to register or submit for registration trademarks, design and/or patents related to Monea in his/her own name or on behalf of any other person, unless User has received a prior written consent from Company. 

13.2. User is not entitled to use, submit registration and/or register trademarks, design and/or patents which might create a false impression about, among others, User’s rights to Monea, origin of User’s goods, products and services or User’s relationship with Company, including use of such trademarks, design and/or patents in connection with name of User’s product or service, or the User’s company name or domain name.

13.3. Company reserves the right to register in Latvia and other countries all trademarks, designs  and patents as well as reserves the right to make unfettered use of any and all trademarks, design and patents associated with Monea irrespectively of whether such exist or have been registered on the effective date of this Agreement or not.

13.4. During period of validity of this Agreement or after its termination, User shall do nothing which may adversely affect the validity or enforceability of Company’s trademarks, design and/or patent, or which may restrict Company’s right to freely make use of and to gain the benefit of any trademarks, designs and/or patents.

13.5. User shall immediately inform the Company about any improper, illegal or wrongful use of the trademarks, designs and/or patents. Pursuant to a written request by Company and at Company’s cost, User shall assist in taking all steps to defend the rights of Company including any actions which Company may deem necessary to commence for the protection of any of its rights in respect of the trademarks, designs and/or patents.

14. Other limitations 

14.1. Company retains all rights not directly transferred to User by this Agreement, including but not limited to ownership and personal and economic intellectual property rights to Monea application and contents of Company’s website www.monea.me.

14.2. User is not permitted to:

14.2.1. Use Monea in a manner contrary to what is set out in this  Agreement;

14.2.2. Reverse engineer, decompile or disassemble  Monea application, unless such rights are explicitly granted to User by Law;

14.2.3. Split or separate the components of Monea application, including but not limited to doing so with a view to operate them on hardware units or software or distribution to other persons;

14.2.4. Remove or modify any Monea application markings or notices, including but not limited to notice on Company as owner of Monea application;

14.2.5. Carry out activities which might be detrimental to the operation of Company’s activities negatively, including but not limited to causation of damages to Company;

14.2.6. Use Monea for illegal purposes. 

14.3. User shall take all reasonable measures to ensure that other persons shall not conduct the above mentioned activities and if User becomes aware of any such activities, User shall inform the Company without delay.

 15. Termination of the Agreement

15.1. Unless it is provided in this Agreement otherwise, any Party to the Agreement may terminate it unilaterally by notifying the other Party, without an obligation to compensate losses related to termination of the Agreement. User must notify Company about termination of the Agreement 1 (one) month in advance, while Company must notify User about termination of Agreement at least 2 (two) months in advance. 

15.2. Company is entitled to terminate Agreement with immediate effect without compensating any losses, if:

15.3. User has provided to Company false, incomplete or inaccurate information;

15.4. User has failed to provide the information requested by Company; 

15.5. User has violated a material term of this Agreement;

15.6. User has caused losses to Company or there is a reason to believe that User might cause losses to Company in the future;

15.7. Company has reasonable grounds to believe that User might be involved in money laundering and/or terrorism financing; 

15.8. Where the Agreement is terminated by User, the duty of notification set out in Article 15.1 shall be fulfilled as follows:

15.8.1. By filling out and submitting the relevant electronic form published on Company’s website  http://www.monea.me/lv-en/help-for-clients/faq/ and receiving Company’s confirmation regarding termination of Agreement to User’s Registered Email Address. If User does not have a Registered Email Address, Company will request the User to create a Registered Email Address in a manner prescribed by this Agreement, and to fill out and submit the aforementioned electronic form once again after a Registered Email Address has been created; or

15.8.2. By sending to Company’s email a respective notice of termination of the Agreement signed with User’s secure electronic signature; or

15.8.3. By visiting Company’s registered address in person, presenting User’s personal identification document and filling out respective notification form.

15.9. Termination of Agreement in accordance with this Article 15 does not relieve Party from an obligation to make payments to the other Party, should such payments be payable in accordance with provisions of the Agreement, or to compensate damages, as well as to fulfil all the obligations arising from the Agreement which are outstanding at the time of termination of the Agreement, including but not limited, where the User, acting either as a Payer or Payee,  at the time of termination of this Agreement in accordance with Article 15.1. has confirmed Monea payments, which have not been executed yet, the Company shall, unless it is provided in this Agreement otherwise, execute such Monea Payments as provided in with Article 9 of the Agreement.

15.10. Where the Agreement is terminated in accordance with Article 15, User is obliged to delete Monea application from his/her Mobile Device.

15.11. Provisions that survive termination of Agreement are those relating to  limitation of liability and other provisions which by their nature are intended to survive the termination of the Agreement.

16. User’s complaints, dispute resolution and supervisory authorities

16.1. Any complaints and claims related to unauthorized or incorrectly executed Monea Payments must be submitted to Company immediately, and in any event no later than 13 (thirteen) months after money has been withdrawn from User’s Card Account.

16.2. Company considers the complaint and/or claim and responds without delay, and in any event no later than within 15 (fifteen) working days from day when the complaint was received.

16.3. Any dispute arising out of or relating to the use of Monea that cannot be solved by negotiations shall be settled, by choosing of claimant, in either the courts of Republic of Latvia or Court of Arbitration of the Association of Commercial Banks of Latvia in accordance with its articles of association and regulations. Agreement is subject to laws of Republic of Latvia.

16.4. In order to protect User’s interests, the User can approach Ombudsman of the Association of Commercial Banks to resolve disputes related to the use of Monea.

16.5. Supervision of User’s as consumer’s rights is performed by Consumer Rights Protection Centre, located in 55 Brīvības iela, Rīga, LV-1010, to which User may turn in relation to complaints regarding services rendered by Company. 

17. Other provisions

17.1. The Agreement is drawn up and available in English language. By agreeing to terms and conditions of this Agreement, User acknowledges that he/she has been informed and consents that any communication in connection with the use of Monea will be in Latvian language.

17.2. By agreeing to terms and conditions of this Agreement during registration, User acknowledges  that he/she has fully understood the terms and conditions of Agreement, unconditionally accepts them and undertakes to comply with them. User consents that this Agreement is a written evidence to a lawfully concluded transaction between User and Company, and that provisions of this Agreement will be a valid legal basis for solving any issues between Parties to the Agreement.

17.3. Company reserves right to unilaterally amend this Agreement. User shall be informed on any amendments to the Agreement at least 2 (two) months prior to these amendments taking effect. Where the User does not accept the proposed amendments, he/she notifies the Company on his/her objections in connection with these amendments, and he/she is entitled to unilaterally terminate this Agreement in accordance with Article 15 prior to the date on which these amendments take effect without incurring any additional charges or penalties. If User notifies Company about his/her objections to the proposed amendments but, however, fails to terminate the Agreement by the date these amendments take effect, Company is entitled to unilaterally terminate the Agreement with immediate effect without incurring an obligation to compensate the User for any losses. Where the Agreement is terminated according to this Article, Company ensures that User’s rights to execution of a Monea Payment authorized in accordance with this Agreement are not violated. Where the User has not exercised his/her rights to unilaterally withdraw from the Agreement according to this Article, it shall be presumed that User has accepted the amendments to Agreement as binding.  

17.4. In the event that any provision of this Agreement are or become invalid, the validity of the other provisions of this Agreement shall not be affected by the invalid provision. In such case, the invalid provision shall be deemed replaced by its legally valid interpretation which comes as close as possible to the intention of the Parties as contemplated by this Agreement reflecting the economic purpose and effect of the invalid provision.

17.5. User has a right to obtain the draft Agreement in paper form or on any other durable medium by contacting the Company by telephone. Draft Agreement shall be forwarded to User’s Registered Email Address or issued to User in person at Company’s registered office located in Blaumaņa iela 5A - 10, Rīga, LV-1011, by prior agreement regarding a mutually acceptable meeting time.

Accord No. 1

Annex to Monea payment services agreement

1. Terms used

Terms used in this Accord have the meaning set out in the Agreement, unless this Accord sets out otherwise.

In addition to the terms used in the Agreement, this agreement uses the following terms:

1.1. Monea defined payment – a payment service provided to the User (Payer) by the Company – money remittance, whereby the Company, without opening a payment account held by either the Payer or the Service provider, executes a Monea defined payment order issued and confirmed by User by transferring to the Service provider the amount of money specified by Payer. Unless this Accord sets out otherwise, the Monea defined payment shall be considered the Monea Payment within the meaning of the Agreement.

1.2. Monea payment to an Unregistered payee – a payment service provided by the Company to the User (Payer) – money remittance, whereby the Company, without opening a payment account held by either the Payer or the Unregistered payee, executes Monea payment to an Unregistered payee issued and confirmed by User, by transferring to the Unregistered payee the amount of money specified by Payer. Unless this Accord sets out otherwise, a Monea payment to an Unregistered payee shall be considered a Monea Payment within the meaning of the Agreement.

1.3. Unregistered payee – a natural person or a legal entity which is not a Monea User and to which Company transfers an amount of money specified by the Payer, based on the Payer’s order issued to the Company in accordance with Article 5 of the Accord. Unless this Accord sets out otherwise, an Unregistered payee shall be considered a Payee within the meaning of the Agreement.

1.4. Unique identifier of the Unregistered payee – IBAN account number, which has to be assigned by a credit institution referred to in Article 3.13 of the Agreement.

1.5. Service provider – a legal entity to which User (Payer), using services provided by the Company, makes payments to pay up invoices issued to the User by the Service provider, or makes payments to pay for the services used by the User. Unless this Accord sets out otherwise, a Service provider shall be considered a Payee within the meaning of the Agreement.

1.6. Unique identifier of the Service provider – an IBAN account number, which has to be assigned by a credit institution referred to in Article 3.13 of the Agreement.

1.7. Accord – this Accord No.1, lawfully entered into between the User and the Company on the rights, obligations, representations and warranties of the User and the Company, which the User and Company undertake and provide to each other in relation to the use of Monea, and which governs mutual relationship of the User and Company for its entire duration, and which becomes an integral part of the Agreement as of its entry into force.

2. Subject-matter of this Accord

2.1. The Company, subject to the terms and conditions of this Accord, provides User a possibility to:

2.1.1. Make Monea defined payments;

2.1.2. Make Monea payments to Unregistered payees.

3. Application and commencement of usage

3.1. The Company provides User with an opportunity to use the services referred to in Article 2.1. of this Accord in the bills section of the Monea application.

3.2. A User who already has an effective Agreement with the Company begins to use the services of the Company referred to in Article 2.1. of this Accord in the following manner:

3.2.1. Upon selecting the bills section in the User’s Monea application profile, a pop-up window appears, which contains a link to this Accord. User must familiarize himself with the text of the Accord. Current edition of the Accord is also available on the following Company’s web page http://www.monea.me/lv-en/terms-conditions/

3.2.2. By using the pop-up window, User may either accept the Accord or delay its acceptance. If the User, upon thorough examination of the provisions of the Accord, accepts the contents of the Accord, the User, by using the respective pop-up window in its Monea application profile, presses the button, which confirms the User’s acceptance, thereby explicitly expressing his acceptance of the terms and conditions of the Accord and acknowledging them as binding upon himself.

3.2.3. After the User has performed the actions set out in Articles 3.2.1 and 3.2.2 of this Accord, the Company provides the User with a possibility to use in the Monea application services set out in Chapter 2 of this Accord. Namely, the Company provides User with the access to the bills section of the Monea application and the User may begin using the Company’s payment services referred to in Article 2.1 of this Accord.

3.2.4. Taking into consideration Company’s obligations as stipulated by laws, including, but not limited to those in the anti-money laundering and terrorism financing prevention area, as well as taking into consideration the technical and security requirements related to the use of Monea, the Company retains the right to deny the User an opportunity to use Company’s payment services referred to in Article 2.1 of this Accord (that is, to deny the User access to the bills section of the Monea application) without an obligation to substantiate such a refusal.

3.2.5. If the User, upon a thorough examination of the contents of the Accord, does not wish to accept the terms and conditions of the Accord as binding upon himself, the User presses the respective button in his Monea application profile. In such case, the User does not have a right to use Company’s services set out in Article 2.1 of this Accord, and the User is redirected back to the main menu of the Monea application.

3.3. A User who does not have an effective Agreement with the Company begins to use the Company’s services set out in Article 2 of the Agreement and Article 2.1 of the Accord by accepting terms and conditions of the Agreement and this Accord, which forms and integral part of the Agreement, as binding upon himself in the manner set out in Article 3 of the Agreement. The Agreement, including this Accord, shall enter into force in the manner set out in Article 4 of the Agreement.

4. Monea defined payments

4.1. The procedure for the execution of Monea defined payments is set out in Chapter 4 of this Accord, and Chapter 9 of the Agreement shall not apply to the execution of Monea defined payments. Whenever a reference to Article 9.1 of the Agreement is made in the Agreement, it shall be treated as a reference to Article 4.4 of the Accord for the purpose of applying this Accord in relation to execution of Monea defined payments, whereas reference to Chapter 9 of the Agreement shall be treated as a reference to Chapter 4 of this Accord.

4.2. In order to execute a Monea defined payment, the User, using the bills section of his Monea application profile, selects from the list of Service providers offered by the Company the Service provider to which the User wishes to make payment. As the result, the respective payment order form opens in the User’s Monea application profile.

4.3. With the help of User’s Monea application profile, User issues an order to the Company to execute a Monea defined payment – to transfer a specified sum of money to the Service provider, by entering the following information in the respective Monea defined payment order form:

4.3.1. information required by the mandatory fields (dialog boxes), including, but not only, information about the amount of money to be transferred to the Service provider;

4.3.2. information intended for the Service provider: description of the respective Monea defined payment. Such information is entered by User if User wishes to provide it to the Service provider and if the Service has chosen to receive such information. To the extent permitted by the applicable legislation, Company is not liable for the content of such information.

4.4. By issuing an order to the Company to execute a Monea defined payment in the manner set out in Article 4.3 of the Accord, within the scope of issuing an order (before actual execution of the Monea defined payment), the User gives his consent (authorizes) Monea defined payment, confirming the respective payment in question by entering PIN Code as provided for in Article 6.2 of the Agreement. For the purposes of the Agreement, including this Accord, the moment of authorization of a Monea defined payment coincides with moment of receipt of Monea defined payment order.

4.5. A Monea defined payment in relation to which the User has performed all the steps set out in Articles 4.3 and 4.4 of the Accord is considered a confirmed Monea Payment and cannot be revoked by the User.

4.6. In order to execute a confirmed Monea Payment, the Company, by using Payer’s Registered Card, charges from Payer’s Card Account an amount which is the total sum of the amount which the User acting as a Payer wishes to transfer to Service provider pursuant to Article 4.3.1 of this Accord, and the Commission Fee which User undertakes to pay to Company as set out in Article 7.2 of the Agreement. By accepting this Accord in accordance with Article 3 of this Accord, User gives an irrevocable authorization to Company for the entire period of validity of this Accord to instruct User’s Card Bank to withdraw from the User’s (Payer’s) Card Account an amount, which is equal to the total sum in relation to confirmed Monea Payment as set out in this Article.

4.7. Upon receiving confirmation of the User’s Card Bank that there are sufficient funds in the User’s Card Account to execute Monea Payment confirmed by the User (including Commission Fee), Company transfers to the Service provider’s IBAN account number, which has been indicated as the Unique identifier of the Service provider, a sum of money which is equal to the amount referred to in Article 4.3.1 of the Accord.

4.8. User agrees that Company may transfer the amount referred to in Article 4.3.1 of the Accord to the IBAN account number of the Service provider referred to in Article 4.7 of this Accord immediately after the Company has received the confirmation from the User’s Card Bank referred to in Article 4.7 of the Accord, before the Company has actually received the total sum referred to in Article 4.6 of the Accord to Company’s account held with a credit institution. If Company transfers the amount of money to the IBAN account number of the Service provider referred to in Article 4.7 of the Accord before the total sum referred to in Article 4.6. of this Accord has been actually received in the Company’s bank account held with a credit institution, Company acquires rights of claim against the User (Payer) in the amount equal to the sum of money that Company has transferred to Service provider’s IBAN account number referred to in Article 4.7. of this Accord in relation to the execution of the relevant Monea Payment confirmed by the User and Commission Fee, minus the actual amount of money received by Company from User in Company’s bank account in relation to the execution of the relevant Monea Payment.

4.9. Company ensures execution of Monea Payment only in the EUR (euro) currency. The Company does not perform currency conversion of the payment amount. If total amount of money referred to in Article 4.6 of the Accord is on User’s Card Account in a currency other than EUR, the currency conversion may be performed by the User’s Card Bank, based on existing agreement between the User and the User’s Card Bank.

4.10. The maximum time for executing a Monea Payment is 2 working days from the moment of receipt of Monea Payment order.

4.11. Monea defined payment order is considered received at the moment Monea defined payment becomes a confirmed Monea Payment in accordance with Article 4.5 of the Accord. User may not revoke a received Monea Payment order.

4.12. The Company is obliged to execute only confirmed Monea Payment.

4.13. Information about the business name of the Service provider and Unique identifier of the Service provider is automatically included in the Monea defined payment order form and User may not change this information. User is obliged to check accuracy of this information before authorizing the Monea defined payment. The Company is obliged to ensure that Unique identifier of the Service provider shown in the Monea defined payment order form corresponds to said Service provider.

4.14. The Company executes a Monea defined payment order based only and solely on the Unique identifier of the Service provider contained therein. If the User has not made sure that he wishes to transfer the particular sum of money to the particular Service provider indicated in the Monea defined payment order form and to the particular Unique identifier of the Service provider indicated in the Monea defined payment order form, the Company shall not be liable for non-executed or incorrectly executed Monea defined payment or any other losses the User may have incurred, including but not limited to Company not being obligated to reimburse to the User (Payer) either the amount of money indicated in Article 4.3.1 of the Accord or the Commission Fee.

4.15. It is User’s obligation to ensure the accuracy of the information supplied in accordance with Articles 4.3.1 and 4.3.2 of this Accord, and the Company is not liable for any losses and/or damages incurred as a result of User issuing to the Company Monea defined payment order containing errors in aforementioned information. Amongst other, User agrees that in order to execute Monea defined payment, User may be required, in accordance with Article 4.3.1 of the Accord, to enter client number, invoice number or any other information identifying the User as specified by the Service provider. User acknowledges that entering incorrect user number, invoice number or other information referred to in Article 4.3.1. of the Accord may prevent the Service provider from identifying and processing the User’s payment.

4.16. If the User has made a mistake while entering the information referred to in Articles 4.3.1 and/or 4.3.2 of the Accord, the Company, upon receipt of a corresponding request from the User, makes effort to retrieve the amount of money related to the respective Monea defined payment. User is obliged to cover expenses of the Company incurred in the process of attempting to retrieve said amount of money within 2 weeks after receipt of a respective invoice issued by the Company.

4.17. Monea Payment is considered executed when the amount of money referred to in Article 4.3.1 of the Accord has been transferred to the Service provider’s account with the IBAN account number referred to in Article 4.7 of the Accord, regardless of when and if the Service provider’s payment service provider makes said amount available to the Service provider.

4.18. The Company retains the right to refuse to execute a confirmed Monea Payment in the event of the following:

4.18.1. non-compliance with terms of this Accord and/or the Agreement, including, but not limited to:

4.18.1.1. Company has not received from the User’s Card Bank a confirmation referred to in Article 4.7 of the Accord regarding sufficiency of funds in User’s Card Account for the execution of the User’s confirmed Monea Payment (including the Commission Fee);

4.18.1.2. The amount of money indicated by User in the Monea Payment order in accordance with Article 4.3.1 of this Accord exceeds the applicable amount limits of the Monea Payment;

4.18.1.3. Execution of the Monea Payment order would result in exceeding of the limits of the intensity of Monea Payment or the limits of the amount of Monea Payment as set by the User.

4.18.2. The Company blocks the User’s Monea application profile in accordance with Chapter 6 of the Agreement.

4.18.3. Execution of the Monea Payment is prohibited by the applicable law or is impossible due to the Company’s anti-money laundering and terrorism financing prevention obligations.

4.19. Information about the reasons for refusal to execute Monea Payment as well as information about the procedure of correction of errors that served as a basis for refusal to execute Monea Payment is provided by Company to Payer no later than within the deadline stipulated in Article 4.10 of the Accord in the statements section of User’s Monea application profile.

4.20. If Company has refused to execute Monea Payment order in any of the cases described in Article 4.18 of the Accord, Monea Payment order is not considered confirmed.

4.21. The Company immediately provides the User with a report of his Monea Payments in the statements section of his Monea application profile.

4.22. To the extent permitted by applicable law, Company does not guarantee or take responsibility for uninterrupted operation and availability of Monea application and/or User’s Monea application profile for issuing of payment orders to the Company in relation to execution of Monea defined payments.

4.23. The Company may unilaterally change (reduce or increase) the list of those Service providers, whose invoices can be paid with Monea defined payments.

4.24. The User understands and agrees that Company executes Monea defined payment order issued by the User solely in accordance with the law, the Agreement and the Accord. This Accord does not amend or terminate the mutual legal relationship of the User and the Service provider or the content of the said relationship. Including, but not only, this Accord does not affect the User’s right and/or obligation to make payment to the Service provider, as well as amount and terms of said payment (including payment deadlines). User understands and agrees that Company has no obligation and that it will not participate in resolving any disagreement, dispute or misunderstanding between the User and the Service provider, including, but not only, in the event of the Service provider being unable to identify the payment made by the User because the User made a mistake while entering information referred to in Article 4.3.1. Upon receipt of a respective written request from the User, the Company, in addition to what has been said in Article 4.21, may supply the User with information about execution of the Monea defined payment.

5. Monea payment to an Unregistered payee

5.1. The procedure for the execution of Monea payment to an Unregistered payee is set out in Chapter 5 of this Accord, and Chapter 9 of the Agreement shall not apply to the execution of Monea payment to an Unregistered payee. Whenever a reference to Article 9.1 of the Agreement is made in the Agreement, it shall be treated as a reference to Article 5.4. of the Accord for the purposes of applying this Accord in relation to execution of Monea payment to an Unregistered payee, whereas reference to Chapter 9 of the Agreement shall be treated as reference to Chapter 5 of this Accord.

5.2. In order to execute a Monea payment to an Unregistered payee, the User, using the bills section of his Monea application profile, selects an option to add a new payment. As the result, a new payment order form (a model) opens in the User’s Monea application profile, and User can save it as his defined payment.

5.3. With the help of User’s Monea application profile, User issues an order to the Company to execute a Monea payment to an Unregistered payee – to transfer a specified sum of money to a person which has not become a client of the Company, by entering the following information in the Monea payment order form:

5.3.1. Name, surname and identity number (if the payee is a natural person) or business name and registration number (if the payee is a legal entity) of the Unregistered payee;

5.3.2. Unique identifier of the Unregistered payee;
5.3.3. Amount of money that User wishes to transfer to the Unregistered payee;

5.3.4. A description of the respective Monea payment to an Unregistered payee intended for the Unregistered payee. Such information is entered by User if User wishes to provide it to the Unregistered payee. To the extent permitted by the applicable legislation, Company is not liable for the content of such information.

5.4. By issuing an order to the Company to execute a Monea payment to an Unregistered payee in the manner set out in Article 5.3 of the Accord, within the scope of issuing an order (before actual execution of the Monea payment to an Unregistered payee), the User gives his consent (authorizes) the Monea payment to an Unregistered payee, confirming the payment in question by entering PIN Code as provided for in Article 6.2 of the Agreement. For the purpose of the Agreement, including this Accord, the moment of authorization of a Monea payment to an Unregistered payee coincides with the moment of receipt of Monea payment to an Unregistered payee order.

5.5. Monea payment to an Unregistered payee in relation to which the User has performed all the steps set out in Articles 5.3 and 5.4 of the Accord is considered a confirmed Monea Payment and cannot be revoked by the User.

5.6. In order to execute a confirmed Monea Payment, the Company, by using Payer’s Registered Card, charges from the Payer’s Card Account an amount which is the total sum of the amount which the User acting as a Payer wishes to transfer to Unregistered payee pursuant to Article 5.3.3 of this Accord, and the Commission Fee which User undertakes to pay to Company as set out in Article 7.2 of the Agreement. By accepting this Accord in accordance with Article 3 of this Accord, the User gives an irrevocable authorization to Company for the entire period of validity of this Accord to instruct User’s Card Bank to withdraw from the User’s (Payer’s) Card Account an amount, which is equal to the total sum in relation to confirmed Monea Payment as set out in this Article.

5.7. Upon receiving confirmation of the User’s Card Bank that there are sufficient funds in the User’s Card Account to execute the Monea Payment confirmed by the User (including Commission Fee), Company transfers to the Unregistered payee’s IBAN account number, which has been indicated as the Unique identifier of the Unregistered payee, a sum of money which is equal to the amount referred to in Article 5.3.3. of the Accord.

5.8. User agrees that Company may transfer the amount referred to in Article 5.3.3 of the Accord to the IBAN account number of the Unregistered payee referred to in Article 5.7 of this Accord immediately after the Company has received the confirmation from the User’s Card Bank referred to in Article 5.7 of the Accord, before the Company has actually received the total sum referred to in Article 5.6 of the Accord to Company’s account held with a credit institution. If Company transfers amount of money to the IBAN account number of the Unregistered payee referred to in Article 5.7 of the Accord before the total sum referred to in Article 5.6 of the Accord has been actually received in the Company’s bank account held with credit institution, Company acquires rights of claim against the User (Payer) in the amount equal to the sum of money that Company has transferred to the Unregistered payee’s IBAN account number referred to in Article 5.7 of this Accord in order to execute the relevant Monea Payment confirmed by the User and Commission Fee, minus the actual amount of money received by the Company from User in the Company’s bank account for the execution of the Monea Payment in question.

5.9. Company ensures execution of Monea Payments only in the EUR (euro) currency. The Company does not perform currency conversion of the payment amount. If total amount of money referred to in Article 5.6 of the Accord is on User’s Card Account in a currency other than EUR, currency conversion may be performed by the User’s Card Bank, based on an existing agreement between the User and the User’s Card Bank.

5.10. The maximum time for executing a Monea Payment is 2 working days from the moment of receipt of Monea payment to an Unregistered payee order.

5.11. Monea payment to an Unregistered payee order is considered received at the moment Monea payment to an Unregistered payee becomes a confirmed Monea Payment under Article 5.5 of the Accord. User may not revoke a received Monea Payment order.

5.12. The Company is obliged to execute only confirmed Monea Payment.

5.13. The Company executes a Monea payment to an Unregistered payee based only and solely on the unique identifier of the Unregistered payee contained therein. If the User has not made sure that the Unique identifier of an Unregistered payee is correct, the Company shall not be liable for non-executed or incorrectly executed Monea payment to an Unregistered payee, or any other losses the User may have incurred, including but not limited to Company not being obliged to reimburse the User (Payer) either the sum of money set out in Article 5.3.3. of the Accord or the Commission Fee.

5.14. It is User’s obligation to ensure the accuracy of the information supplied in accordance with Articles 5.3.1 – 5.3.4 of the Accord, and the Company is not liable for any losses and/or damages incurred as the result of User issuing to the Company a Monea payment to an Unregistered payee order containing errors in the aforementioned information.

5.15. If the User has made a mistake while entering the information referred to in Articles 5.3.1 – 5.3.4 of the Accord, the Company, upon receipt of a corresponding request from the User, makes effort to retrieve the amount of money related to the respective Monea payment to an Unregistered payee. User is obliged to cover expenses of the Company incurred in the process of attempting to retrieve said amount of money within 2 weeks after receipt of a respective invoice issued by the Company.

5.16. Monea Payment is considered executed when the amount of money referred to in Article 5.3.3 of the Accord has been transferred to the Unregistered payee’s account with the IBAN account number referred to in Article 5.7 of the Accord, regardless of when and if the Unregistered payee’s payment service provider makes said amount available to the Unregistered payee.

5.17. The Company retains the right refuse to execute a confirmed Monea Payment in the event of the following:

5.17.1. non-compliance with terms and conditions of this Accord and/or the Agreement, including, but not limited to:

5.17.1.1. Company has not received from the User’s Card Bank the confirmation referred to in Article 5.7 of the Accord regarding sufficiency of funds in User’s Card Account for the execution of the User’s confirmed Monea Payment (including the Commission Fee);

5.17.1.2. The amount of money indicated by User in the Monea Payment order under Article 5.3.3 of this Accord exceeds the applicable limits of Monea Payment amount;

5.17.1.3. Execution of the Monea Payment order would result in exceeding of the limits of the intensity of Monea Payment or the limits of the amounts of Monea Payment as set by the User.

5.17.2. The Company blocks the User’s Monea application profile pursuant to Chapter 6 of the Agreement.

5.17.3. Execution of the Monea Payment is prohibited by the applicable law or is impossible due to the Company’s anti-money laundering and terrorism financing prevention obligations.

5.17.4. Company has reasonable suspicion that the account with the respective IBAN account number referred to in Article 5.7 of the Accord is opened in the name of a natural person or legal entity, whose business name and/or registration number, or name, surname and/or identity number does not match the information that the User entered pursuant to Article 5.3.1 of the Accord.

5.18. Information about the reasons for refusal to execute a Monea Payment as well as information about the procedure for correction of errors that served as a basis for refusal to execute Monea Payment is provided by Company to Payer no later than within the deadline stipulated in Article 5.10 of the Accord in the statements section of User’s Monea application profile.

5.19. If Company has refused to execute a Monea Payment in any of the cases described in Article 5.17 of the Accord, the Monea Payment order is not considered confirmed.

5.20. The Company immediately provides the User with a report of his Monea Payments in the statements section of his Monea application profile.

5.21. To the extent permitted by applicable law, Company does not guarantee or take responsibility for uninterrupted operation and availability of Monea application and/or User’s Monea application profile for issuing of payment orders to the Company in relation to execution of Monea payment to an Unidentified payee.

5.22. By accepting terms and conditions of this Accord, User acknowledges that he is aware of the fact that the services covered by this Chapter 5 of the Accord (Monea payment to an Unregistered payee) may not be available immediately upon execution of the Accord. Without regard for above, the terms and conditions of this Accord, which apply to Monea payments to Unregistered payees, become automatically binding immediately upon the service becoming available in the Monea application.

6. Service fee

6.1. As consideration for the services provided by Company to the User pursuant to this Accord, the User pays to the Company a Commission Fee in the amount set out in Chapter 7 of the Agreement and in the manner set out in the Agreement and this Accord.

6.2. For the avoidance of any doubt, Article 7.6 of the Agreement shall not apply to provision of the payment services set out in Article 2.1 of this Accord.

7. Processing of personal data

7.1. User agrees that in addition to the provisions of the Agreement, Company processes User’s personal data also in accordance with Chapter 7 of this Accord.

7.2. For the purpose of performing obligations arising from this Accord, and with the goal of providing to the User services referred to in Article 2.1 of the Accord, the Company, in addition to data set out in the Agreement, also processes the following data:

7.2.1. Information about the User’s agreements with Service providers (agreement number, invoice number, client number, amount payable etc.).

7.2.2. User agrees that Company receives from Service providers and processes User’s personal data, which is set out in Article 7.2.1 of this accord and which is required to render services governed by this Accord.

7.3. In order to ensure execution of Monea defined payment and, in particular, to ensure that the Service provider can contact the User concerning Monea defined payment, the User agrees that Company transfers to the Service provider, to whom the User has transferred funds using Monea defined payment, the following personal data of the User:

7.3.1. User’s name and surname, of which the User has informed the Company under Article 11.2.1 of the Agreement;

7.3.2. User’s identity number, of which the User has informed the Company under Article 11.2.2 of the Agreement;

7.3.3. User’s Registered phone number, of which the User has informed the Company under Article 11.2.4 of the Agreement;

7.3.4. The User’s unique identifier;

7.3.5. Information which the User has entered into the payment description field (Article 4.3.2. and Article 5.3.4. of the Accord).

7.4. The Company processes the User’s personal data in accordance with the Company’s Personal data protection policy, which can be accessed electronically at: http://www.monea.me/lv-en/data-protection/, and which shall be considered an integral part of the Agreement and this Accord.

8. Representations and Warranties

8.1. User provides the following representations and warranties, which must be valid and true at the time of this Accord becoming effective as well as for the entire period of validity of the Accord:

8.1.1. The Unregistered payee is a resident of Latvia;

8.1.2. User shall use the Monea defined payment only to pay invoices issued by the Service provider to the User and/or to pay for services received or used by the User;

8.1.3. User has, pursuant to applicable law or an agreement, acquired a right to pay invoices, which have not been issued by the Service provider to the User, as well as User undertakes to perform every formality set out in applicable law, including, but not only, the notification obligation related to payment of such an invoice;

8.1.4. The User shall not use Monea for commercial purposes and shall not use Monea to pay for goods and/or services, except with respect to execution of Monea defined payments;

8.1.5. The User shall use Monea solely for private payments among private persons, excluding use of Monea defined payments, and shall not exceed Monea payment amount and intensity limits set by the Company.

8.2. Immediately upon entry into force of this Accord, the representation and warranty set out in Article 5.1.10 of the Agreement shall be expressed in line with Article 8.1.3 of the Accord, and the representation and warranty in Article 5.1.11 of the Agreement shall be expressed in line with Article 8.1.4 of the Accord. Other representation and warranties in Chapter 5 of the Agreement shall not be affected by this Accord.

8.3. For the avoidance of doubt, Article 5.2 – 5.3 of the Agreement shall apply to the representations and warranties set out in Chapter 8 of this Accord.

9. Accord’s entry into force, duration and termination

9.1. This Accord shall enter into force as soon as the User has performed the steps set out in Article 3.2. of the Accord and the Company has provided the User with access to the “Invoices” section of his Monea application profile, except in the event set out in Article 3.3 of the Accord, which shall cause the Accord to enter into force in the manner set out in the Agreement.

9.2. Upon its entry into force this Accord becomes an integral part of the Agreement and shall remain in force for the entire duration of the Agreement between the User and the Company.

9.3. Upon the Accord’s entry into force the term “Agreement” (as it is used throughout the Agreement) shall also encompass this Accord.

9.4. The Parties may terminate this Accord in the manner set out in Chapter 15 of the Agreement. For the avoidance of any doubt, this Accord may be terminated pursuant to Chapter 15 of the Agreement without terminating the Agreement itself.

10. Other provisions

10.1. The Company renders to the User and the User uses payment services set out in Article 2.1 of the Accord in accordance with the rights, duties, obligations and warranties, which the User and the Company have undertaken and given to each other and which are contained in the Agreement and this Accord, which is an inseparable part of the Agreement.

10.2. Unless stated otherwise in this Accord, the services set out in Article 2 of this Accord are rendered in accordance with the provision of Agreement, abiding rights, duties, obligations and warranties of the User and the Company, which the User and the Company have undertaken and given to each other in relation to use of Monea and which are contained in the Agreement.

10.3. Unless stated otherwise in this Accord, nothing in this Accord shall be interpreted to the effect of restricting or amending any provision of Agreement, and/or preventing application of any provision of the Agreement.

10.4. In matters which are not expressly governed by this Accord, the relationship between the User and the Company shall be governed by the provisions of the Agreement.

10.5. Where a matter is governed by both the Agreement and this Accord, the provisions of this Accord shall prevail, if the matter relates to services set out in Article 2 of this Accord.

10.6. The User is liable for the validity, accuracy and compliance with provisions of the Agreement and the Accord of all the information and data, which the User has provided to the Company in accordance with this Accord or in the process of performing this Accord.

10.7. The names of the menu particulars of the Monea application used in this Accord have merely informative character, and the User agrees that the Company can unilaterally and without any restrictions change names of the menu particulars and dialog boxes.

Current version of Agreement has been prepared on 15 September 2016. Updated on July 25, 2018.