The Silverbird Partner Program
The Silverbird Partner Program is governed by a separate set of terms which can be found at: https://silverbird.com/partner-program-agreementLimits on and restrictions of use of Services
Silverbird has the right to establish amount limitations for certain Operations. The Client has the right to request increase of the limitations established by Silverbird to the extent and pursuant to the terms and procedures established by Silverbird.Prevention of money laundering and terrorism financing
Silverbird at all times adheres to its Know-Your-Customer (KYC) principles upon the establishment of and during the business relationship with the Client. Under the KYC principles, the Client must be identified and the appropriateness of transactions must be assessed based on the Client’s principal business and/or prior pattern of transactions. Silverbird has the right to request additional information (e.g. documents serving as grounds for the transaction) from the Client to allow it to comply with its anti-money laundering obligations (e.g. information concerning the owners and ultimate beneficiaries of the Client and the Client’s business activity, including data on the contractual partners, turnover, the share of cash and non-cash transactions, frequency of transactions, etc.). The Client agrees to immediately comply with and without any undue delay grant all needed information and documents related to any request for further information that Silverbird reasonably requires. If the Client, regardless of the respective request, does not submit to Silverbird the documents and relevant information requested by Silverbird, the Client shall be deemed to have fundamentally breached the Service Agreement and Silverbird may, without following the terms of prior notification, extraordinarily terminate the Service Agreement and any other agreement which serves as a basis for the business relationship.Product and Service fees
Silverbird shall have the right to receive and the Client shall be obliged to pay for the rendered Service fees, established in the General Terms and Conditions and/ the Price List. The Client shall be obliged to keep a sufficient amount of money on the Payment Account so that Silverbird can debit the Payment Account with all service fees and other sums and arrears payable. If Payment Account as a consequence of any action undertaken by the Client has a negative balance, the Client shall immediately without requirement of any notification from the side of Silverbird correct such balance, so it would be more or equal to zero. Silverbird may send notifications or take any other reasonable actions to recover such negative balance from the Client, including but not limited to employing debt collection services or instituting a legal action. Silverbird may charge the Client for reasonable costs incurred subsequently to any measures undertaken in this respect.
After the 30 days trial period ends (if applicable), Silverbird debits the monthly fee once a month in advance for the upcoming fee period. The fee period is 30 consecutive calendar days, based on a 360 day calendar year. For example, if the trial period ends on February 2nd, then the monthly fee will be charged on the same day. From then on, Silverbird will charge the monthly fee on 2nd date each month.
The Price List in force at any given time is available via Silverbird’s Electronic Channels. Silverbird may unilaterally amend the Price List at any time. The Client shall be notified of the amendment in accordance with the “Notices to the Client” section. The amendment enters into force on the date set out in the notice.Termination of the business relationship
The Client has the right to terminate the business relationship with immediate effect at any time by means of notice to Silverbird in accordance with the “Notices to the Client” section.
Silverbird has the right to terminate the business relationship for convenience at any time by giving one (1) month notice to the Client.
Silverbird has the right to terminate the business relationship with immediate effect in the event that:
· Silverbird suspects the Client of money laundering or terrorist financing;
· the Client has submitted incorrect, misleading or insufficient data or documents to Silverbird or refuses to submit the requested data or documents in due time;
· Silverbird suspects the Client of using Services in any restricted or prohibited activities or other illegal activities;
· the Client has intentionally or due to gross negligence failed to perform its obligation arising from the General Terms and Conditions;
· Silverbird is requested or directed to do so by any competent court, governmental authority, public agency or law enforcement agency;
· the Client has not used the Payment Account (i.e. given the orders to use the funds for payment transaction) in 60 consecutive calendar days.Settlement of complaints
The Client may submit a complaint about Silverbird, any payments, payment products, services or actions directly to Silverbird by:
· Phone: from 8am to 8pm Monday to Friday, and from 9am to 1pm on Saturdays.
· E-mail: [email protected]
· Online: https://silverbird.com/contact-us
· Mailing address: Level39, One Canada Square, Canary Wharf, London, E14 5AB.
For the most up to date contact details and forms visit www.silverbird.com
Any disputes between Silverbird and the Client shall be solved immediately by means of negotiations after the dispute arises. If the dispute cannot be settled, a claim shall be sent to the other party in accordance with the Section Communication between Silverbird and the Client. The claim shall specify the circumstances behind the claim and refer to the legal act or document on the basis of which the claim is submitted. If the document which provides the basis for the claim is not freely available to the other party, and the law does not provide otherwise, the party who submits the claims shall add the document or a copy of the document to the claim.
Silverbird shall review the complaint and notify the Client who is an individual within 15 business days of the possible resolution of the complaint. Clients who are legal persons shall receive a corresponding notification within 30 business days of receiving the complaint. In general, written complaints from the Client will be given a written or electronic response, unless an oral response is made to a written complaint from the Client and there is reason to believe that the Client does not express consent to receive a written response.
Client may choose to complain about Silverbird, its products, services or actions to the Financial Services Ombudsman http://www.financial-ombudsman.org.uk/consumer/complaints.htm
· Phone: +44 300 123 9 123 or +44 800 023 4567 from 8am to 8pm Monday to Friday, and from 9am to 1pm on Saturdays.
· E-mail: [email protected]
· Online: https://help.financial-ombudsman.org.uk/helpRestricted activities
In connection with the use of the Electronic Channels or the Services, or in the course of the Client’s interactions with Silverbird, the following activities are restricted at all times:
· causing a disproportionate number of claims that have been closed in favour of the claimant regarding the Client’s activities;
· using the Services in connection with illegal products or services and/or stolen goods including digital and virtual goods;
· transactions with sanctioned counterparties;
· any activity or omission that violates any law, statute, ordinance, regulation or good faith;
· any activity or omission that violates the terms and conditions established by Silverbird.Suspending the use of Services
Silverbird reserves the right to change, suspend or discontinue any aspect of the Services at any time, including, but not limited to hours of operation or availability, Third Party Services, or any feature, without any notice and not subject to any liability. Where it is possible Silverbird shall notify Client in a timely manner regarding such change, suspension or discontinuance of any aspect of Services.No warranty
The Services of Silverbird are provided on an “as is”, “as available” basis and without any representation or warranty, whether express, implied or statutory. Silverbird does not warrant that the Services will be uninterrupted or error free (except where required by law).Responsibility for loss or damage
Silverbird does not exclude or limit any liability where it would be unlawful to do so, it includes instances of death or personal injury caused by negligence, fraud and/or misrepresentation.
Silverbird is responsible for loss or damage that Client suffers that is a foreseeable result of Silverbird breaking these General Terms and Conditions. Silverbird shall bear no liability and shall not be liable for any loss or damage that is not foreseeable. The foreseeable loss or damage as understood under these General Terms and Conditions is any loss or damage that was obvious to occur consequently to actions or gross negligence.
Silverbird cannot be held liable for inability to deliver or for delay as a result of things which are outside of Silverbird’s control.
Silverbird shall not be held liable for any interruption to the provision of Services which occurred subsequently to Silverbird following with its legal obligations.
If the Client uses Services for any commercial or business purpose Silverbird shall not be liable towards the Client for any loss of profit, loss of anticipated savings, loss of reputation, loss of business, business interruption, or loss of business opportunity.
In case of an unauthorised payment or mistake due to Silverbird’s error, Silverbird shall at the request of the Client immediately refund the payment amount including all fees deducted by Silverbird. This shall not apply to the situations where:
· The Client has acted fraudulently, in which case Silverbird shall not refund the Client in any circumstances. In such a case the Client shall be solely liable for all losses;
· The Client did not notify Silverbird in a timely manner of security issues with Payment Account (e.g. loss of Payment Instrument), the Client remains liable for any losses incurred up to the time when the notification was received by Silverbird;
· The payment was unauthorised but the Client either with intent or gross negligence had compromised the security of the Payment Account or failed to comply with its obligations for use of the Payment Account in the manner set out in these General Terms and Conditions; or
· The Client did not notify Silverbird about the unauthorised or incorrectly completed transaction within 13 months from the date of the Operation. In such a case the Client shall be solely responsible for all losses.
It is the responsibility of the Client to regularly monitor its Payment Account and to inform Silverbird of any unauthorised transactions, inconsistencies or concerns.
Silverbird assumes no responsibility for the content of any third party websites which can be linked to and from Silverbird’s web page and/or any loss or damage that may arise from their use.
Silverbird shall not be liable for any loss or damage caused by any malware, virus, or other technological attacks or harmful material that may infect the Client’s computer equipment, computer programs, phone, other portable electronic devices, data or other proprietary material related to the use of Services.
The Client is liable for breaking these General Terms and Conditions and/or applicable laws and/or regulations. In case of loss or claims or damages or costs and expenses arising out of its breach of these General Terms and Conditions, any applicable law or regulation and/or use of Services, the Client agrees to compensate Silverbird and hold Silverbird harmless.
Without prejudice to other limitations of liability in these General Terms and Conditions, any applicable law or regulation and/or use of Services, if Silverbird is liable for non-performance or defective execution of a Payment Transaction, it will refund to the Client the amount of that transaction without delay, or immediately credits the corresponding amount in the Beneficiary Client’s account, as the case may be.
If the Client identifies an unauthorized or incorrectly executed Payment Operation, he will notify Silverbird in order to correct it, as soon as possible, but not later than 3 (three) months from the date of debiting the respective Payment Operation.
Silverbird is liable only in case of gross negligence or intentional infringement of its obligations and only within the limit of the effective direct loss suffered by the Client as a result of failing to perform the Payment Operation.Severability
Any Section, Clause and/or provision of these General Terms and Conditions operates separately. If any Section, Clause and/or provision in any way contravenes the law of any country, state or province, or the laws of any sovereignty or government in which these General Terms and Conditions are in effect shall, in such country, state or province, or sovereignty or government, as the case may be, to the extent of such contravention of law, be deemed severable and shall not affect any other Section, Clause and/or provision herein or the validity hereof. If any court or relevant authority decides that any Section, Clause and/or provision is in such contravention, the remaining Clauses, Sections, and/or paragraphs will remain in full force and effect while affording intended rights and/or obligations.DefinitionsAccount Information Service Provider (AISP):
third party service provider which collects customer and account data for analysis and aggregation purposes, by means of Open API.Payment Account:
a Payment Account opened by Silverbird for the Client on the basis of the Payment Account Agreement for executing a payment transaction.Payment Account Agreement:
an agreement for the use of the Payment Account.Client:
a natural or legal person who uses, has used or has expressed his, her or its wish to use the Services of Silverbird.Services:
a service rendered by Silverbird to a Client (incl. any payment service, Payment Account and Payment instrument).Service Agreement:
the agreement regulating the terms and conditions applicable to a certain Service.Third Party Services:
third party services made available to Client through the Silverbird Electronic Channels.Electronic Channels:
electronic channels developed and managed by Silverbird or its subsidiaries which allow the Client to make Operations or manage its Payment Account (e.g. website, mobile application, another digital interface and/or electronic channels)Client Credentials:
the username and the password chosen by the Client or other credentials granted for the Client by Silverbird or a third person.'Payment instrument'
means any personalised device and/ or set of procedures agreed between the Client and Silverbird and used to initiate a Payment Order; Payment Operation:
action initiated by the payer/ beneficiary of the payment, in order to deposit, transfer or withdraw funds, independent of any subsequent obligation between the Payer and the Beneficiary; Payment Order:
instruction given by the payer/ beneficiary to the requesting the execution of a Payment Operation; Price List:
valid price list or pricing page established by Silverbird: https://silverbird.com/pricingSilverbird’s Homepage:
Silverbird’s website available at www.silverbird.com Security Elements
represent personalised features provided by Silverbird the users of Payment instruments with remote access of internet-banking for the purposes of authentication, consisting in information and/or devices (such as, but not limited to codes, passwords, PIN code/ Security Code/ OTP); Personal API Key:
is a code calling an Open API to identify the Client.Payment Initiation Service Provider (PISP):
third party service provider which offers transaction initiation services by means of Open API.Operation:
the use of the assets on the Payment Account (e.g. drafting, confirming and submitting payment orders), the use of functions, concluding any agreement, granting any authorisation, exchanging information and documents, establishing limits and Restrictions and using any other services or functions of, or made available by Silverbird or a third party.Open API:
the access to the application programming interface which allows Client to submit orders or view transaction history with the help of Personal API Key.Restriction:
the restriction on the use of the Services based on specific parameters (device, connection, location, time, amount limitation or other).