Terms and conditions for Customers
These Terms and Conditions are legally binding on Crossborder Payments (Private) Limited (Crossborder) and each Customer (as hereinafter defined) and shall govern the use of Marx App provided by Crossborder to Customers.
By using the Marx App, the Customer accepts and confirms to the terms and conditions set out herein and agree to be bound by the terms and conditions herein:
The Terms and Conditions, together with the instructions, specifications and limitations set out in the Marx Website /Marx App which are incorporated herein by reference; govern the provision of the Marx Services by Crossborder to the Customer and the use of the same by the Customer. The Customer agrees to access the Marx Website for further details relating to the provisions of the Marx Services to the Customer and to contact Marx Hotline in the event that the Customer requires further information. In particular, and amendments or supplements to the Terms and Conditions shall be published on such Websites and notified to the Customer via an electronic message.The Terms and Conditions, together with the instructions, specifications and limitations set out in the Marx Website /Marx App which are incorporated herein by reference; govern the provision of the Marx Services by Crossborder to the Customer and the use of the same by the Customer. The Customer agrees to access the Marx Website for further details relating to the provisions of the Marx Services to the Customer and to contact Marx Hotline in the event that the Customer requires further information. In particular, and amendments or supplements to the Terms and Conditions shall be published on such Websites and notified to the Customer via an electronic message.
1. Definitions
In this document and pertaining to the use of the Marx Services, unless otherwise specified:
I. “Crossborder” means Crossborder Payments (Private), a limited liability company incorporated under the Companies Act, No.7 of 2007 bearing registration no. PV00220704.. and licensed by Central Bank of Sri Lanka, and shall function its successors and permitted assigns.
II. “Customer” means a customer who subscribes to the Marx App by accepting these Terms and Conditions and by downloading and installing the Marx App.
III. “Daily Limit” means the maximum monetary value of transactions made through the Marx App during one day, where a day is a period of 24 hours commencing from 00.00 as per Sri Lanka Standard Time, which said amount may be notified by Crossborder from time to time and is Subject to change at the sole discretion of Crossborder.
IV. “Max Account” means the user account (and not any bank account or other Payment Instrument) created by the Customer on Marx App, for the purposes of accessing the Marx Services and utilizing the Marx Services.
V. “Marx Hotline” means the customer assistance contactable on phone number +94 115 400 500 and via email at support@marx.lk established by Crossborder for the purposes of Crossborder.
VI. “Marx App” means the proprietary mobile application owned and operated by Crossborder available for download on android devices on its Play Store and on IOS devices on its App Store through which Mark offers its services to its customers.
VII. “Marx Services” means the Marx Financial Services and the Marx Non-Financial Services designed by Crossborder to Customers through Marx App.
VIII. “Marx Financial Services” means the financial services that are offered to Customers through the Marx App, comprised of Fund Receipts and Payment Transactions.
IX. “Marx Non-Financial Services” means the non-financial services that are offered to Customers through the Marx App, including the following and which shall very specifically exclude the Marx Financial Services:
a. Viewing of marketing information
b. Viewing promotions and an introduction demo
c. Such other transactions as may be notified by Crossborder from time to time
X. “Marx Website” means support@marx.lk
XI. “Fund Receipts” means the receipt of monies into and out of the Payment Instruments either by fund transfers, top ups through Merchants or the redemption of Tokens or in such other manner as may be notified via Marx App from time to time.
XII. “Merchant Limit” means the maximum monetary value of the aggregate of (l) Fund Receipt’s via top ups through Merchants; and (2) Payment Transactions through Merchants or Services Providers that a Customer can make through the Customer’s Max Account during one day, where a day is specified as period of 24 hours commencing from 00.00 as per Sri Lanka Standard Time, which said amount may be notified via Marx App from time to time and is subject to change at the sole discretion of Crossborder.
XIII. “Merchants” means the Suppliers of goods and/or services who choose to utilize the functions available in Marx App for the purposes of the business, by registering with Marx App.
XIV. “Mobile Device” means a mobile phone, tablet or such other mobile device that has the ability to connect to mobile telecom network and has internet connectivity; subject always to such specification requirements as may be notified via Marx App from time to time.
XV. “Mobile Number” means the mobile number of the Customer that is registered with Marx App or has otherwise been provided by the Customer when subscribing to Marx App as a contact number to communicate with Crossborder.
XVI. “Payment Amount” means the Sri Lankan Rupee amount (or, where applicable, the foreign currency amount) of a Payment Transaction, together with related fees, other charges and taxes, as applicable.
XVII. “Payment Instruments” mean the Max Account and such other bank accounts, credit cards and/or debit cards acceptable to Crossborder, which the Customer has opted to register on the Max Account, In order to conduct Payment Transactions.
XVIII. “Payment Transaction” means the processing of a payment that results in the debiting, charging or other related transaction of the Payment Amount, to the relevant Payment Instrument of the Customer in relation to the following transactions, further details (including limitations, where relevant) of which are set out In the Marx App:
• Payments made by the Customer to/ at Merchants that accept Crossborder payment services
• Payments made by Customers to Service Providers registered with Crossborder
• Online payments
• Such other transactions as may be
XIX. “Service Provider” means supplier of goods and/or services who choose to utilize the functions available in Marx App for the purposes of their business, by registering to provide products and Services using Marx App.
XX. “Registration Information” means the Information and supporting evidence provided by the Customer via Marx App for the purposes of satisfying the requirements applicable to the registration of a Max Account, as set out herein.
XXI. “Terms and Conditions” means these terms and conditions, as may be supplemented, substituted, amended or replaced by Crossborder from time to time.
XXII. “Token”/ “Reward Points” means an issue coupon codes which is automated for any discount or free offer and/or points rewarded by Crossborder for usage of the App.
XXIII. “Transaction Limit“ means where applicable, the maximum monetary value that can be spent for each Payment Transaction from the Max Account during one day, where a day is a period of 24 hours commencing from 00.00 as per Sri Lanka Standard Time, which said amount may be notified by Crossborder from time to time and is subject to change at the sole discretion of Crossborder.
XXIV. “User Credentials” means user lDs, PlNs, passwords and biometric data registered by a Customer for the purposes of accessing the Customer’s Max Account and/or utlising the Marx Financial Services.
2. Commencement of Marx Services
I. Subject to the Terms and Conditions herein, a Customer who downloads the Marx App by agreeing to the Terms and Conditions would be entitled to commence using the Marx Services.
II. The Customer is responsible for providing accurate and genuine Registration information that relates to only such Customer and no other person. The Customer is responsible for keeping such Registration information up to date, or notifying Crossborder in the event of any change. Change of Sri Lankan residence status of a Customer would result in the Customer being ineligible to utilize the Marx Services.
III. In order to use the Marx Financial Services, the Customer must complete all Information elements required on the Marx App where a Customer registers a Payment Instrument in the Max Account.
IV. The Customer authorizes Marks to confirm that the Payment Instruments are in good standing with the issuing financial institution.
3. Types of Customers
I. The nature and extent of Marx Services offered by Crossborder to a Customer caries with the type of Customer. Not all Marx Services would be available to all Customers. The types of Customers and the Corresponding Marx Services available to such Customer are set out In the Marx App and on the Marx Website.
II. The Customer is advised to contact Marx Hotline or access the Marx Website to clarify which of the Marx Services are available to a specific Customer.
4. Requirements to Register for the Marx Services
I. Not withstanding the satisfaction of the foregoing requirements, Crossborder shall have the sole discretion in approving the registration of any person as a Customer.
II. A Customer must satisfy the following requirements for the purposes of registering for the Marx Services:
a. Be a resident of Sri Lanka;
b. Be over 18 years of age;
c. Possess a Mobile Device with software conforming to the requirements set out on the Marx App prerequisites;
d. Provide a Mobile number registered in the name of the Customer (or permission to use such Mobile Number where it is in the name of a person other than the Customer)
e. Fulfill all legal requirements inclusive of anti-money laundering requirements of Crossborder and regulatory authorities.
III. The Customer shall provide Crossborder with sufficient Registration Information in order to support the satisfaction of the aforesaid registration requirements. The Registration Information shall be provided in the manner prescribed by Crossborder from time to time, which shall include the submission of the Registration Information digitally via the Marx App. Crossborder reserves the right to verify the Registration information with third parties, if the need arises.
IV. For the purposes of satisfying continuing anti-money laundering requirements of Crossborder, Crossborder reserves the right to request for additional documentation and supporting information from time to time, even after completion of the Registering of a Customer’s Max Account. Crossborder may at its sole discretion block or close the Customer’s Max Account in the event of a failure to provide satisfactory documentation and supporting information following a request for the same from Crossborder. Crossborder is entitled to close the Customer’s Max Account In the event of a failure to provide satisfactory documentation and supporting information following a request for the same from CROSSBORDER.
V. The Customer is responsible for providing accurate and genuine Registration information that relates to only such Customer and no other person. The Customer is responsible for keeping such Registration information up to date, or notifying CROSSBORDER in the event of changes. Change of Sri Lankan residence status of a Customer would result In the Customer being ineligible to utilize the Marx Financial Services.
5. Marx Services
I. Marx Services must be used only for the purpose of completing domestic transactions in Sri Lankan Rupees.
II. Marx Services must be used only for lawful and legitimate purposes and only for conducting the permitted transactions as specified in these Terms and Conditions and on the Marx App.
III. Once the Customer’s Payment Instrument has been authorized, the relevant Payment Transaction is deemed completed and discharged. Payment Transactions conducted through Payment Instruments are subject to the terms and conditions between the Customer and the relevant financial institution and/or the issuer (In the case of a debit or credit card).
IV. The Customer is responsible for any charges and fees that maybe imposed under the Payment Instrument terms and conditions, as a result of the Customer’s use of a Payment Instrument.
V. The Customer is solely responsible for updating and renewing the Payment Instruments in a truthful manner, in order to have uninterrupted use of the Marx Financial Services.
VI. All Transactions processed through Crossborder are non-refundable to the Customer and are non-reversible by the Customer through Marx App. Subject to the provisions herein below, the Customer may have additional refund, reversal or charge-back rights under the terms and conditions governing the relevant Payment Instruments.
VII. Crossborder has the right to monitor and supervise transactions that take place using the Customer’s Max Account and Payment Instruments linked thereto. In the event Crossborder is of the view that there are suspicious or unintended transactions taking place through the Max Account and/or the Payment Instruments linked there to Marx App, Crossborder reserves the right to reverse or suspend such transactions, including the right to suspend the availability of the Max Account, without giving notice to the Customer. Crossborder shall not be liable for restricting access to the Max Account in such circumstances.
VIII. Crossborder has the right to report suspicious transactions to the Financial intelligence Unit (“FIU“) established under the Financial transactions Reporting Act Number 6 of 2006 and any other law enforcement authorities and other regulators as the case maybe. In the event the FIU/authority/regulator instructs Crossborder not to carry out any transaction, Crossborder will suspend the transaction in order to allow the FIU/ authority/regulator to make necessary inquires. The Customer will not be entitled to be informed of any action taken by Crossborder in relation to the above and Crossborder will not be liable or responsible to the Customer in respect of any such action taken by Crossborder.
IX. Crossborder is required to report to the FIU in such manner as maybe prescribed by the FIU, every cash transaction and electronic fund transfers in any manner (including inward and outward remittances, SLIP transfers, RTGS transactions. credit Card transactions, debit Card transactions and transactions relating to NRFC and RFC accounts) exceed the sum specified by regulation.
X. The Customer will not be entitled to be informed of any action taken by Crossborder in relation to the above and Crossborder will not be liable or responsible to the Customer in respect of any such action taken by Crossborder.
XI. Customer will be subject to and shall comply with the applicable Merchant Limit, Transaction Limit and Daily Limit as maybe imposed by Crossborder.
XIII. The Customer will be rewarded Rewards Points for transaction made through the Marx Account. Such Rewards Points shall be offered at the discretion of Crossborder who will determine the mechanism of reward and its computation.
6. Undertakings of the Customer
In addition to the undertakings set out elsewhere in these Terms and Conditions
II. The Customer shall maintain the confidentiality and security of Crossborder and the Customer’s Max Account which shall include the following actions:
a. Storing the Mobile Devices in a secured manner;
b. Keeping User Credentials safe and confidential; and
c. Keeping the IMEI codes/One Time Passwords (OTPs) used to access Marx Services in a separate place from the User Credentials be responsible for the security of same.
III. The Customer shall immediately report the loss of and Mobile Device to Crossborder by calling Marx Hotline and following the instructions provided by Crossborder.
IV. In the event of the loss of any Mobile Device and/or where the confidentiality and security of the Customer’s Max Account is likely to have been or potentially will be compromised, it is the sole responsibility of the Customer to bring such instances to the notice of Crossborder immediately via the Marx Hotline. Without prejudice to any other clauses in these Terms and Conditions, the Customer acknowledges that the Customer shall be responsible for any transactions which have been done by any unauthorized person through the Customer’s Max Account by reason of the Customer failing to maintain the confidentiality and security of the Customer’s Mobile Device and/or Max Account.
V. All transactions completed using the applicable User Credentials of a particular Customer’s Max Account on Marx App are conclusive and binding on such Customer and the Customer shall be liable in respect of such transactions. It is the Customer’s responsibility to ensure that no other person has access to the Customer’s Max Account/App and/or the related User Credentials.
VI. The Customer shall be responsible for any and all transactions by persons that the Customer allows to access the Customer’s Max Account/App or that other wise use the User Credentials, and for any and all consequences of use or the related User Credentials.
VII. It is the responsibility of the Customer to confirm the accuracy of all information entered into Marx App so as to ensure that it is the Customer’s intended transactions that are being carried out.
VIII. Crossborder need not seek further confirmation on the authenticity of and transactions effected through the Max Account and Crossborder will not be held liable for carrying out instructions that are validated by the applicable User Credentials of a Customer.
IX. Without prejudice to any other provision in these Terms and Conditions, the Customer specifically acknowledges that Crossborder shall not be liable in and manner whatsoever for the Customer’s failure to complete a transaction on Crossborder in the following instances and in any other instance specified in applicable laws:
a. Marx Services provided to the specific Customer;
b. ln its absolute discretion, Crossborder is of the view that the transaction is suspicious or illegal;
c. the transaction breaches the Merchant Limit, the Daily Limit or the Transaction Limit;
d. a Merchant or Service Provider refuses to honour the transaction;
e. the Customer does not have enough funds available in the relevant Payment Instrument to affect the transaction;
f. If the Mobile Device used by the Customer is incompatible with Marx App or is in anyway defective or fails to meet the required specifications for using Marx App;
g. If a Merchant’s equipment or a Service Provider’s mobile application through which the transaction is being or attempted to be processed is not working properly;
h. failure to renew any Payment Instrument
i. if the transaction information supplied by the Customer or a third party is incorrect or untimely; or
j. if Marx App is unavailable for use at any time, due to Circumstances beyond Crossborder’s control.
X. The Customer acknowledges that all Payment Transactions conducted through Marx App are effected in real time. Accordingly, other than expressly specified in the terms and conditions applicable to the individual Payment Instruments, Crossborder does not undertake to stop or reverse any Payment Transaction once the Customer has entered into it.
XI. The Customer will not hold Crossborder liable for any transaction which the Customer has entered into with Merchants or Service Providers using Marx App. It is the responsibility of the Customer to take steps to confirm the completion of all aspects of transactions as at the point of such transaction (that is, the physical payment or acceptance of cash or the provision of goods/service must be carried out simultaneously with the respective transaction being carried out through the Marx App).
XII. Crossborder shall not accept any liability for the quality of goods and services provided by a Merchant.
XIII. Crossborder shall be entitled to promote any of its products or any third-party products to the Customer through Marx App.
XIV. Crossborder reserves the right to display Crossborder’s marketing material electronically on Marx App.
7. Payment Instruments
I. The Customer may link Payment Instruments from other banks/financial institutions to the Customer’s Max Account, in accordance with Crossborder’s specifications as shall be set out on the Marx App. Once a Payment Instrument has been successfully linked to the Customer’s Max Account, Crossborder will store the relevant amount/card numbers as may be required to provide Marx Services to the Customer. The Customer acknowledges that Crossborder is not a party to any agreement between the Customer and such other bank/financial instrument in relation to the Payment Instruments and is not involved in issuing credit or determining eligibility for credit. Crossborder does not make any representation or verify that any of such Payment Instruments are in good standing or that relevant bank/financial institution will authorize or approve any Payment Transaction carried out through Marx App.
II. The Customer’s use of Marx Services with a given Payment Instrument is governed by these Terms and Conditions as well as the applicable terms / Privacy Policy from the bank/financial institution where the relevant Payment Instrument is opened/issued. Nothing in these Terms and Conditions modifies such terms or Privacy Policy. In the event of any inconsistency between the Terms and Conditions and the relevant bank/financial institution’s terms, these Terms and Conditions will govern the relationship between the Customer and CROSSBORDER with respect to Crossborder, and the bank/financial institution’s terms will govern the relationship between the Customer and such bank/financial institution.
III. The Customer agrees that by nominating the Payment Instruments to be linked to the Customer’s Max Account, the Customer is consenting to Crossborder debiting and crediting Payment Instruments for the purposes of utilizing the Marx Services. The Customer represents, warrants and undertakes to Crossborder that the Customer will ensure that operating instructions relating to the Payment Instruments will be consistent with the Customer’s use of the Marx Services.
IV. By choosing to link Payment instruments the Customer’s Max Account, the Customer acknowledges and consents to Crossborder passing details of such Payment Instruments and related Information to a third party for that third party to charge the same for goods or services to be supplied to the Customer. In such cases, after passing on such details to that third party, Crossborder will have no further involvement in the transaction with that third party. Crossborder is not responsible for any issues arising from such third-party transaction. In the case of disputes, the Customer should contact the third party or financial institution at which such Payment Instrument has been opened or issued.
V. The Customer is responsible for the maintenance of accurate information regarding the Payment Instruments in the Max Account(such as expiration dates, updated card nos.etc).The Customer represents and warrants to Crossborder that the Customer has all rights and authority to register the Payment Instruments with the Customer’s Max Account.
X. The Customer acknowledges that all Payment Transactions conducted through Marx App are effected in real time. Accordingly, other than expressly specified in the terms and conditions applicable to the individual Payment Instruments, Crossborder does not undertake to stop or reverse any Payment Transaction once the Customer has entered into it.
XI. The Customer will not hold Crossborder liable for any transaction which the Customer has entered into with Merchants or Service Providers using Marx App. It is the responsibility of the Customer to take steps to confirm the completion of all aspects of transactions as at the point of such transaction (that is, the physical payment or acceptance of cash or the provision of goods/service must be carried out simultaneously with the respective transaction being carried out through the Marx App).
XII. Crossborder shall not accept any liability for the quality of goods and services provided by a Merchant.
XIII. Crossborder shall be entitled to promote any of its products or any third-party products to the Customer through Marx App.
XIV. Crossborder reserves the right to display Crossborder’s marketing material electronically on Marx App.
8. Fees
I. The Customer must bear charges and fees (if any) relating to the use of Marx App (including any fees and charges on termination) (collectively referred to as “Charges”),as contained in Crossborder’s tariff rates to be, published on the Marks website(link) and/or on the Marx App. Crossborder reserves the right to amend the Charges from time to time.
II. The Customer must pay or reimburse to Crossborder, all taxes, stamp duty and/or other levies(collectively referred to as “Levies”) which may be payable as a result of the Customer’s use of Marx Services/App.
III. The Customer shall be responsible for all fees and charges that may be charged by third parties in the course of the utilization of the Marks Service by the Customer. For the avoidance of doubt, the Customer shall be responsible for all fees and charges levied by carriers (telecom operators) and the banks/financial institutions relating to the linked Payment Instruments.
9. Notifications, Instructions and Prescribed Manner
I. Notifications by Crossborder in relation to Marks App (including changes to the Terms and Conditions, publication of fees and charges and operational instructions for the use of Marx App may be made/given by Crossborder from time to time by way of text message to the mobile Number, email to the Customer’s registered email address, notifications through the Marx App, publication on the Marx Website or in any other manner deemed appropriate by Crossborder at its sole discretion. Notifications will be binding on the Customer immediately upon being published. The Customer agrees and consents to receive such notifications electronically and it is the Customer’s responsibility to open and review such notifications of Crossborder through the methods described above. The Customer’s continued use of Crossborder Services shall be deemed to be acceptance by the Customer of any amendments to the Terms and Conditions effected from time to time.
II. Instructions, requests or notifications (collectively “instructions”) sent by the Customer to Crossborder through the Marx App, shall be binding on the Customer and the Customer here by authorises Crossborder to act on such instructions. Crossborder reserves the discretion to refuse to act on such instructions and/or to verify such instructions in a manner which Crossborder deems suitable.
III. Any instructions to block, modify, vary or recommence the operations of the Max Account shall take place only after such instructions have been verified by Crossborder.
IV. Crossborder will provide instructions and information through Marx Hotline as to the prescribed manner and format in which the Customer is to notify Marks of specified events including but not limited to the reporting of lost mobile devices and termination of services notifications.
V. Statements:
(I) Unless otherwise agreed with Crossborder, Crossborder will provide access on the Marx App for reports of transactions.
(II) Any objection the Customer may have concerning the incorrectness or incompleteness of a transaction by the Customer must be raised promptly and be received by Crossborder in writing within thirty (30) days following receipt of such transaction by the Customer, in the absence of which such transaction will be deemed to be correct and binding on the Customer.
10. Dispute Resolution
I. Crossborder will establish Marx Hotline for the purposes of responding to customer inquiries, disputes and receive complaints (together referred to as a “Disputes”).
II. In the event of there being a Dispute with regard to the Marx Services, the Customer shall report same to Crossborder by calling Marx Hotline. A reference number will be assigned to each Dispute and the Dispute will be forwarded to the relevant department or division of Crossborder for inquiry and further action. All complaints will be monitored and duly followed up by Crossborder.
III. Crossborder will respond to the Customer on the Dispute within three (3) working days of the date of the Dispute being reported. In the event that Crossborder is unable to conclude the finality into the Dispute within this time period, then, Crossborder will within such period of three (3) working days provide the Customer with an interim response and inform the Customer of the date by which Crossborder will revert to the Customer with a final response. In the event Crossborder concludes that the Customer’s Dispute is legitimate, Crossborder will in such response inform the Customer of the steps taken to resolve the Dispute. Crossborder may respond to a Dispute verbally or in writing. All Disputes will be responded to in the same language as the language in which it was reported.
IV. The Marx Services are subject to the jurisdiction of the courts of Sri Lanka.
11. Suspension or Termination
I. If the Customer wishes to deactivate the Max Account, the Customer may do so by logging on to the Marx App or by contacting Marx Hotline and following the instructions provided therein. If the Customer wishes to terminate the Crossborder Amount, Customer may do so by contacting Marks Hotline and following the instructions provided therein. If the Customer wishes to deactivate or remove a Mobile Device, the Customer may do so by logging onto the Marx App and following the instructions provided therein.
II. If the Customer wishes to deactivate or remove any Payment Instrument from the Max Account, the Customer may do so by contacting Marx Hotline and following the instructions provided therein.
III. The Customer shall pay any outstanding Charges and/or Levies, prior to activation or termination of the Max Account.
IV. Crossborder shall have the right, in its sole and absolute discretion without liability to the Customer or any third party, to suspend or terminate anyone or more of the Marx Services, including the Max Account any given time and for any reason what so ever by giving ten (10) days’ notice or at anytime at its discretion without prior intimation, for reasonable cause.
V. Termination or suspension of anyone or more of the Marx Services including the Max Account, will not affect the Customer’s liability in respect of and transactions and any other obligations under these Terms and Conditions. On termination, Crossborder reserves the right to prohibit access to the Marx Services’, including without limitation, by deactivating the User Credentials and to refuse future access to the Marx Services.
VI. Crossborder reserves the right, in its sole and absolute discretion without liability to the Customer or any third party, to impose general practices’ and limitations concerning the use of the Marx Services, including to restrict access to some or all of the Marx Services.
VII. In the event that the Marx Services are terminated for any reason OTHER THAN for breach of the Terms and Conditions by the Customer or contravention of applicable laws and regulations (including but not limited to anti money laundering legislation) by the Customer, Crossborder will disburse any funds lying to the credit of the Customer’s Bank Account(less and Charges or Levies)by way of a transfer to such account as may be specified by the Customer(and costs relating to such transfer being borne by the Customer) or in cash.
VIII. In the event that the Marx Services are terminated by reason of breach of the provisions of the Terms and Conditions by the Customer or by reason of contravention of applicable laws and regulations (including but not limited to anti-money laundering legislation) by the Customer, Crossborder may in its absolute discretion without prior notice refuse to provide access to the Customer to create a new Max Account in the future, In the event that Crossborder is of the view that the Max Account is being used for Illegal or unauthorized activities and/or purposes.
12. Indemnity
The Customer shall indemnify, defend and hold harmless Crossborder and its subsidiaries and other affiliates, and its and their directors, officers, owners, agents, co-branders or other partners, employees, Information providers, licensors, licensees, consultants, contractors and other applicable third parties(including without limitation, Merchants, Service Providers, other financial institutions and other Customers) (collectively “Indemnified Parties”) from and against any and all claims, losses, demands, causes of action, debt or liability, including without limitation reasonable attorney’s fees and costs incurred by the indemnified Parties arising out of, related to, or which may arise from:
a. the Customer’s use of the Marx Services;
b. the Customer s negligence or default in using the Marx Services;
c. any breach or non-compliance by the Customer of any term of the Terms and Conditions
d. any dispute or litigation caused by the Customer’s actions or omissions; and/or
e. the Customer’s violation or alleged violation of and applicable laws or rights of a third parties.
13. Disclaimers and Limitations of Liability
I. The Marx Services, including all content, software, functions, materials, and information made available on, provided in connection with or accessible through Marks App, are provided “as is”. To the fullest extent permissible by law, Crossborder and its subsidiaries and other affiliates, and their agents, co-branders or other partners, including but not limited to, device manufacturers( collectively, “Crossborder parties”),make no representation or warranty of any kind what so ever for the services or the content, materials, information and functions made accessible by the software use don or accessed through Marks, or for any breach of security associated with the transmission of sensitive information through Marx App. Each Crossborder party disclaims without limitation, any warranty of any kind with respect to the Services, non-infringement, merchantability, or fitness for a particular purpose. The Marks parties do not warrant that the functions contained in Marx App will be uninterrupted or error free. The Crossborder Parties shall not be responsible for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of payment transactions, p2p payments on Marx App.
II. The Crossborder parties are not responsible for the accuracy of any information relating to any payment Instrument, including, without limitation, whether such information is current and up-to-date. Without limiting the generality of the preceding sentence, the Customer expressly acknowledges and agrees that such information is reported by the issuer as of a particular time established by the issuer and may not accurately reflect the Customer’s current transactions, available balance, or other account or program details at the time they are displayed to the Customer through Crossborder or at the time the Customer makes a purchase or redemption. The Customer may incur fees and other charges as a result of such transactions and/or or the Customer’s attempt to make a purchase or redemption may not be successful.
III. In no event shall any Crossborder party be responsible or liable to the Customer or any third party under any circumstances for any indirect, consequential, special, punitive or exemplary, damages or losses, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses which could be incurred in connection with any Crossborder Party or Crossborder, or any goods, services, or information purchased, received, sold, or paid for by way of Marx App, regardless of the type of claim or the nature of the cause of action, even if Crossborder Party has been advised of the possibility of such damage or loss. In no event shall Crossborder Parties total cumulative liability arising from or relating to the Terms and Conditions exceed the value of the Payment Transaction relating to the claim.
IV. In no event shall any Crossborder party be responsible or liable to the Customer or any third party under any circumstances for any indirect, consequential, special, punitive or exemplary, damages or losses, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses which could be incurred in connection with any Crossborder Party or Crossborder, or any goods, services, or information purchased, received, sold, or paid for by way of Marx App, regardless of the type of claim or the nature of the cause of action, even if Crossborder Party has been advised of the possibility of such damage or loss. In no event shall Crossborder Parties total cumulative liability arising from or relating to the Terms and Conditions exceed the value of the Payment Transaction relating to the claim.
14. Miscellaneous
I. Incorrect entries to the Max Account may be reversed, corrected or cancelled by Crossborder through a further entry (“reverse entry“).
II. If Crossborder is holding funds due to the Customer arising from a transaction processed using any services described herein, and Crossborder is unable to contact the Customer and has no record of the Customer’s use of the service for a period determined by applicable law, Crossborder may be required to report and ultimately hand over these funds to regulators such as the Central Bank of Sri Lanka as unclaimed or abandoned property. Crossborder reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable laws.
III. The reporting and payment of and applicable taxes arising from the use of Marx App shall be the Customer’s responsibility. The Customer shall comply with any and all applicable tax laws in connection with the use of Marx App.
IV. The Customer hereby authorizes and consents to Crossborder recording and/or disclosing information regarding the Customer, and transactions of the Customer and/or and Payment Instruments, for such purpose/s, as Crossborder in its sole discretion deems fit.
V. Crossborder may from time to time introduce various products and services to Marks App, which may be subject to separate terms and conditions, in addition to these Terms and Conditions.
VI. The Customer may not assign the Max Account or and rights or obligations under the Terms and Conditions, by operation of law or otherwise, without Crossborder’s prior written approval and any such attempted assignment shall be void. Crossborder reserves the right to freely assign the Terms and Conditions and the rights and obligations here under, to any third party without notice or consent. Subject to the foregoing, these Terms and Conditions shall be binding upon and inure to the benefit of the parties hereto, their successors and permitted as signs.
VII. The provisions of Marks Services to the Customer and these Terms and Conditions will be governed by Sri Lankan law.
