Note: These Terms have been updated. Please review the updated document carefully before using the Services. By following this link you can check the previous version of this document.

These Terms of Service (“Terms”) outline the terms governing the services provided by CRABSI PAYMENTS CORP., registered under number 1000491725, with its principal office at 80 Atlantic Ave, Toronto, Ontario, Canada, M6K1X9 (“Company,” “Crabsi Payments”, “Crabsi”), and Customer’s use of the Services that are displayed on https://crabsi.com (“Website”).

By registering as a Customer of Crabsi Payments or utilizing our Services, Customer acknowledges customer understanding and acceptance of all terms and conditions stated herein.

The following definitions clarify the terms used throughout these Terms between Crabsi Payments and the Customer. These definitions aim to ensure mutual understanding of rights, responsibilities, and expectations for both parties. Review these definitions carefully, as they will be referenced throughout these Terms. These capitalized terms are for reference purposes and may not encompass all possible interpretations or contexts.

• Account: An electronic money account created by the Customer with Crabsi Payments, where electronic funds are stored.
• Alternative Payment Method (APM): Any payment method, other than card payments, that Crabsi Payments can process and has been mutually agreed upon, including e-wallets, payments via phone accounts, or other accepted methods.
• Base currency: The currency selected by the Customer when opening an Account.
• Business day: A day when Crabsi Payments is operational and provides services, excluding public holidays, designated rest days in Canada, or any non-working days pre-announced by Crabsi Payments.
• Business relationships: The relationship established between Crabsi Payments and the Customer during the provision of services.
• Card: A payment card, such as Visa, Visa Electron, Mastercard, or Maestro, used as a payment method for Transactions.
• Customer: An individual or entity holding an Account with Crabsi Payments or applying to open one. This includes natural persons, sole proprietors, merchants, self-employed individuals, or other legal entities engaged in commercial activities and maintaining business relationships with Crabsi Payments.
• Communication: Any instruction, order, document, log, transaction, or other information intended to be shared between the parties.
• Crabsi E-Money System: the software / hardware complex, which includes a funds transfer system with formal and standardized arrangements and common rules for the processing, settlement of payment transactions, accessible through the website of Crabsi, including all programs and access points enabling the Customer to perform access to the Services, such as the Crabsi E-Money System, etc; 
• Deposit: Adding funds to a Customer’s Account by acquiring electronic money via designated deposit options.
• Electronic Money or E-Money: Monetary value stored electronically or magnetically, represented as a claim by the Customer on Crabsi Payments, issued upon receipt of funds from the Customer, and used for payment transactions within the Crabsi Payments E-Money System.
• Tariffs (“Fees”): Charges applied by Crabsi Payments for services provided, subject to amendments from time to time. Specific Fees or agreements with a Customer may override general Fees for particular services.
• Terms: These Terms of Service, along with any annexes related to Crabsi Payments’ services, the use of the Crabsi Payments E-Money System, and any associated website or interface which constitutes the full agreement between the Customer and Crabsi. The latest version is published on the Crabsi Payments Website.
• Services: Any services offered by Crabsi Payments, including but not limited to Account maintenance, E-Money issuance, payment instrument issuance, and payment transaction execution using E-Money via Crabsi Payments’ website.
• Transaction: Any act initiated by the Customer involving the placement, transfer, or withdrawal of funds, subject to applicable Fees. Transactions may involve financial operations with Cards or APMs, fund transfers, Account replenishments via Cards or APMs, and/or OCT services if offered by the merchant.
• Login authorisation data: All identification or verification details provided by Crabsi Payments for Customer login and account access, such as account numbers, passwords, login codes, or verification messages sent via email or mobile.
• Wallet: A sub-account within the Customer’s Account, denominated in the Base Currency selected by the Customer.
• Withdrawal: The process of transferring funds from the Customer’s Account using a method chosen by the Customer in the withdrawal section of their Account, achieved by redeeming Electronic Money.

By using our services, Customer acknowledges that Customer has carefully read, understood, and agreed to be bound by these Terms, along with any relevant laws and regulations that may apply. If Customer does not agree to these terms, Customer is prohibited from using our services.

• Non-Banking Status: Crabsi Payments is not a banking institution, and the Customer’s account is not a bank account.
• No Fiduciary Role: Crabsi Payments does not act as a trustee, fiduciary, or escrow holder for the E-Money in the Customer’s account.
• No Interest on Balances: E-Money held in the Customer’s account will not accrue interest, and Crabsi Payments will not pay interest on any balances in the Customer’s account.
• Authorized Use of E-Money: Crabsi Payments grants access to its E-Money system only to authorized customers. Authorized customers may use the system to purchase or redeem electronic money, make payments, and accept payments from third parties. Crabsi Payments operates as an independent service provider.
• Additional Terms and Updates: Crabsi Payments may publish specific terms on its Website or E-Money system, which may be amended from time to time (e.g., Terms & Conditions, Privacy Policy, Complaints Procedure, List of Restricted Activities, Non-serviced Countries, etc.). The Customer agrees to regularly review the Crabsi Payments website and the E-Money System for any changes.

• Authorized Customers:  Crabsi Payments offers its services solely to customers who have been duly authorized after completing the necessary approval process.
• Acceptance of Terms: As a condition of authorization, the Customer must accept these Terms and any specific terms published on the Crabsi Payments Website.
• Information Requirement: During the authorization process, Crabsi Payments may request specific information, and the Customer must provide such information within 4 (Four) business days. This includes, but is not limited to, identification verification. The Customer understands and agrees to supply any additional required information in compliance with anti-money laundering regulations. Failure to provide such information within the designated time frame may result in the suspension or closure of the Customer’s account.
• Discretionary Authorization: Crabsi Payments is under no obligation to accept any customer and may, at its sole discretion, determine the conditions of acceptance and the scope of information required from the Customer.
• Obligation to Maintain Updated Information: The Customer must ensure that all information provided to  Crabsi Payments remains accurate and up-to-date. Crabsi Payments reserves the right to request additional information periodically, and the Customer is obliged to comply. Failure to provide requested information may result in the immediate termination of the relationship with the Customer.
• Failure to Submit Documents: If the Customer fails to submit requested documents or information,  Crabsi Payments reserves the right to deactivate the Customer’s account and may determine whether to continue the relationship.
• Notification of Changes: The Customer agrees to notify Crabsi Payments within 4 (Four) business days of any changes in circumstances or information previously provided.
• Account Usage: Upon successful authorization, the Customer will be granted access to a personal account with Crabsi Payments. Only the Customer has the right to access and use this account, and only for the activities and purposes outlined in the Account application. Any change in purpose or activity will require a new application for review.
• Security of Account: The Customer is responsible for securing their login credentials (e.g., password, login code, user ID, etc.). The account should only be used in accordance with these Terms and the intended purpose.
• Single Account Policy: A Customer is permitted to have only one authorized account with Crabsi Payments. Any additional accounts or applications submitted will be linked to the sole approved account. If multiple accounts are identified, the Customer authorizes  Crabsi Payments to close one account and transfer any funds to the remaining account.
• Prohibited Activities: The Customer is prohibited from attempting to tamper with, hack, modify, or interfere with the security or functionality of the Crabsi Payments E-Money System. In the event of suspected unauthorized activities, Crabsi Payments may freeze the account and suspend transactions until the issue is resolved.
• Language of Communication: All communications and information will be provided in English. The Customer acknowledges that English will be the language used for these Terms and any further communication between the Customer and  Crabsi Payments.
• Telecommunication Risks: The Customer understands and accepts the inherent risks of using various communication methods (telephone, email, mobile applications, etc.), including potential failures of hardware, software, or communication infrastructure. The Customer assumes full responsibility for these risks and agrees to use these means of communication at their own risk.
• Limitation of Liability: Crabsi Payments is not liable for any issues arising from communication disruptions or errors, including those resulting from system failures, delays, or unauthorized interception of data.
• Recording of Communications: Crabsi Payments reserves the right to record and/or document all communications (e.g., phone calls, emails, chats) between the Customer and Crabsi Payments. These records may be used as evidence in any dispute or legal proceedings. The Customer understands and acknowledges that they cannot rely on the availability of such recordings.
• Notices and Communications:  Crabsi Payments may communicate with the Customer by posting notices on the Crabsi Payments website, emailing to the verified address associated with the Customer’s account, or by phone or SMS. The Customer agrees to regularly check these channels for notices. Notices are considered received 24 hours after being posted on the website or emailed. If sent by mail, the notice will be deemed received three 4 (Four) days after it is mailed.
• Requesting Disclosures: The Customer may request a copy of any legally required disclosures, including these Terms. Crabsi Payments will provide such disclosures in a durable medium (e.g., email). If the Customer withdraws consent to receive electronic communications, Crabsi Payments may charge a document request fee and reserves the right to close the Customer’s account.
• Communication with  Crabsi Payments: Any notices or communication intended for  Crabsi Payments must be sent via email to [email protected].
• Agreement Confirmation: By registering or using the Crabsi Payments Account, the Customer agrees to and accepts all these Terms. The use of the Account signifies the Customer’s unconditional acceptance of these Terms.

Login and Authorization

To use our services, Customer must create an account with Crabsi Payments by providing accurate and complete details. Customer agrees to keep  Customer account credentials, including Customer username and password (“Login credentials”), confidential. Customer is solely responsible for all activities under Customer account, and Customer must notify us immediately of any unauthorized use or security breaches.

To access Customer account, Customer can log in through the Crabsi Payments website or mobile application using Customer login credentials. If Customer experiences any issues with login authorization, Customer should contact Crabsi Payments for technical assistance.

Once Crabsi Payments verifies Customer login credentials, Customer will be able to access Customer account and initiate payment instructions.

If Customer believes that Customer login credentials have been compromised, Customer must notify Crabsi Payments immediately and request to have  Customer account blocked while an investigation is conducted.  Customer can contact us via phone or email for assistance.

Exclusive Right to Use the Account

Customer must maintain the confidentiality of Customer login credentials and take all necessary precautions to prevent unauthorized access. Customer is responsible for any loss or misuse of  Customer login credentials and agree to fully indemnify Crabsi Payments for any claims arising from unauthorized use.

Anyone accessing  Customer account using Customer’s login credentials will be treated as the account holder, unless Crabsi Payments requests additional verification to confirm identity.

If Customer suspect that Customer login credentials have been compromised, Customer may request that they be blocked. Only Customer can unblock Customer login credentials.

Customer acknowledge that the Crabsi Payments E-Money System is provided “AS IS” and “WITH ALL FAULTS.”

Creating and Maintaining Wallets in  Customer Account

Once Customer gain authorized access to Customer account, Customer can create electronic money wallets (also referred to as sub-accounts) in different currencies. These are recorded in the Crabsi Payments E-Money System as sub-accounts in the selected currency.  Customer are not required to maintain a balance in any wallet. If Customer do have a balance, funds are pooled and segregated with those of other customers, in accordance with legal requirements and Crabsi Payments’ policies.

Transactions: deposits, withdrawals, internal transfers and payments

In order to make a Transaction, the Customer will firstly need to fund his Account by purchasing electronic money to be credited to his Account or by receiving electronic money transferred via Crabsi E-Money System from other customers. 

Deposits:

The Customer may purchase E-Money by using one of the “Deposit” methods available to the Customer depending on certain criteria, e.g. country of residence, etc. The Customer must provide the information requested and pass all identity and security validation and verification checks prior to the receiving of acceptance by Crabsi, which shall allow depositing funds to the Account. For any Deposit, the Customer authorizes Crabsi to obtain and receive funds on behalf of the Customer from the payment source chosen by the Customer, less any applicable Fees, and to issue electronic money to the Customer’s Account. 

When depositing the funds, the Customer understands and expressly agrees that the funds he deposits in one chosen currency will be deposited by Crabsi into the Customer’s respective Wallet for immediate transfer by depositing the respective amount in electronic money corresponding to that particular currency in case the Customer possesses Wallet in that particular currency in his Account. The Customer further understands and agrees that in case, if the Customer does not possess a Wallet in the currency deposited by the Customer, Crabsi may automatically open, and the Customer expressly authorises and instructs Crabsi to do so, the Wallet in that currency and deposit these funds to that corresponding to the Customer’s depositing currency Wallet or it may be converted to another currency (at Crabsi discretion) and in its turn due to cross-border payments regulations in different regions an FX difference between the processed amounts and settlement amounts may occur. Customer acknowledges this fact and shall not raise any claims in relation to the mentioned conversio. 

The Customer understands, acknowledges and accepts that due to cross-border payment regulations in different regions and settlements an FX difference between the processed amounts and settlement-specific aspects amounts may occur, even though the Transaction currency and Account currency are the same. 

The Customer understands and accepts that Crabsi, upon its full discretion, may impose certain limits on amounts of purchased electronic money/ Virtual currency and/or impose special requirements and/or refuse to accept funds for electronic money/ Virtual currency purchase from the Customer at the sole discretion of Crabsi.

Withdrawals: 

The Customer may “Withdraw” electronic money by using one of the Withdrawal methods available to the Customer on the Account depending on certain criteria, e.g. country of residence, etc. The Customer must provide the information requested and pass all identity and security validation and verification checks prior to the withdrawal authorisation by Crabsi. For any Withdrawal, the Customer authorizes Crabsi to perform remittance from electronic money into Customer’s base currency via the withdrawal source chosen by the Customer less any applicable Fees, and to remit the electronic money back to Customer. 

The Customer understands and expressly agrees that Crabsi may only proceed with the Withdrawal of Customer’s funds into an account that is held in the Customer’s name (Customer is the account holder and beneficiary of the account) at a credit institution, i.e. bank or into an account that is held in Customer’s name at payment institution that has established cooperation with Crabsi.

The Customer understands and accepts that Crabsi may be requested by law to impose certain limits on amounts of Withdrawal of electronic money and/or impose special requirements and/or refuse to withdraw Customer’s funds until the information is submitted by the Customer and all requirements under the law are fully satisfied. 

Deposits and Withdrawals are subject to Fees and currency conversion fees depending on the method used according to the Fee Schedule available on Crabsi website, which the Customer agrees to constantly observe. Furthermore, Deposits and Withdrawals may be subject to the imposition of limits that correspond to the level of information provided by the Customer, and potential risk presented by the Customer and may also be imposed at the sole discretion of Crabsi. 

Payments within the Crabsi E-Money system: 

The Customer may make Payments to other customers and/or customers that accept Crabsi transfers by entering Crabsi E-Money System. The Customer is obliged to specify the purpose of the Payment, which shall conform with the specified nature of business in the Customer application for the Account opening. When all the fields are filled in Crabsi E-Money System will calculate and show the transfer Fees. 

By making Transaction the Customer expressly confirms that all the data entered is correct and shall bear the full responsibility if any mistake appeared in the entered data.

By making Transaction the Customer provides full authorisation to Crabsi to transfer the funds as instructed. Electronic Money will then be transferred within the Crabsi E-Money system to the destination indicated by the Customer. The execution of Transaction shall usually take place immediately, however, in case of technical malfunctioning the execution of Payment may delay, in which case Crabsi will make all efforts to fix the technical malfunctioning and proceed with the Payment execution within a reasonable time. 

The Customer fully acknowledges that after proceeding Transaction the Customer may no longer cancel or amend the Transaction. Thus, by making Transaction the Customer irrevocably gives instructions to Crabsi to proceed with it and does not intend to cancel or alter it. 

Internal transfers: 

The Customer may make “Internal transfers” between Wallets in different currencies. During the Internal transfer process spot exchange rate will be displayed, however, the Customer expressly accepts that he understands and acknowledges that the spot exchange rates are only indicative. After proceeding the Transaction, chosen by the Customer amount will be internally transferred between Wallets in different currencies. 

The Customer may make Internal transfers by specifying recipient’s (which is Crabsi’s customer as well) email and/or registered phone number in accordance with Crabsi E-Money System requirements. 

History of Transactions in the Account

All the history of Transactions including charges, fees and margins, shall be recorded in the History section of the Account and shall be available to the Customer at any time. The Customer shall also be able, for an additional fee described on the Crabsi website, to request Crabsi to confirm to the Customer any Transaction made and Crabsi will be obliged to confirm any Transaction made on the Customer’s Account. History also indicates statutes of the Transactions as completed, cancelled, or pending. 

Fees and charges 

The Customer expressly agrees to duly pay for any Services provided by Crabsi. 

The Customer acknowledges and understands that he is obliged to read and acknowledge Fees prior to instructing Crabsi to make any Transactions. The Fees document contains all applicable interest rates, commissions and fees for Services provided by Crabsi, thus the Customer shall observe these at all times. 

In case the Transaction initiated by the Customer requires a currency exchange, the current spot rate provided by the liquidity provider will be applied. 

The Customer agrees that any Fees that are due by the Customer to Crabsi shall be withdrawn by Crabsi directly from the Customer’s Account and/or Wallet at any time. 

Crabsi reserves the right to introduce new services and to, therefore, introduce new charges which the Customer obliges to pay in accordance with these Terms. New charges that are favourable to the Customer may be introduced without prior notice. 

Crabsi is entitled to unilaterally amend the Fees. Crabsi shall notify the Customer of these changes by setting the date when the new Fees take effect.

Crabsi reserves the right to deduct all the losses resulting Customer’s unauthorised actions. 

The Customer remunerates the Crabsi for opening, maintenance and closing of Accounts/Wallets, execution of the Transactions and other services in accordance with the Fees. The Customer is obligated to get itself acquainted with the Fees and/or exchange rates. 

Changes to exchange rates shall come into effect immediately without notice and the Customer shall not have the right to object to such a change.

Where insufficient funds are placed on the Customer’s Account or Wallet to pay any Fees or Deductions that are due hereunder, Customer will not be able to use its Account and Wallets until funds have been placed on the Payment Account to allow the outstanding Fees to be deducted by Crabsi. Crabsi has a right to invoice the Customer with the amount of such outstanding Fees and Deductions, and the Customer is obliged to pay such invoices immediately, but in no case later than within three (3) business days.

Where insufficient funds are placed on the Customer’s Account or Wallet to pay any Fees and Deductions that are due hereunder, Crabsi reserve the right to deduct any outstanding Fees and Deductions from other Accounts or Wallets operated by Customer that hold sufficient funds (or the foreign currency equivalent, based on the prevailing foreign exchange rates available to us) to meet some or all of any such outstanding fees and charges, and Customer expressly consent to such deduction.

Uncleared funds and payments, negative balance 

Certain electronic money purchase options may entitle the Customer to have electronic money credited to its account before payment for electronic money purchase and applicable fees are cleared by the Customer’s designated financial institution or association or other payment service provider. In that case, Crabsi may periodically present these uncleared payments to the Customer’s financial institution or association or other payment service provider, as applicable. In addition, Crabsi may debit insufficient funds and uncleared payments from Customer’s account, obtain them from Customer’s designated financial institution or association or other payment service provider, as applicable, or collect them from the Customer in other ways. Crabsi will tell Customer before Crabsi does this unless telling Customer would compromise reasonable security measures or otherwise be unlawful, in which case Crabsi will tell Customer when Crabsi is permitted to do so. 

Further, a negative balance on the Customer’s account is a situation when there is insufficient electronic money in the Customer’s account. A negative balance on the Customer’s account may occur for various reasons described in these Terms (for example, if Crabsi claim repayment of an ungrounded refund of electronic money Customer received from Crabsi). Any negative balance on the Customer’s account is the Customer’s debt to Crabsi with an immediate payment term. Crabsi may require and collect payment from Customer to cover an outstanding negative balance on Customer’s account at any time. Failure by Customer to make payment is a breach of these Terms. Crabsi may at any time send Customer reminders or take other debt collection measures, including, but not limited to, mandating a debt collection agency or solicitors, or pursuing a court claim. Crabsi may also charge Customer fees and expenses Crabsi reasonably incur in connection with debt collection or enforcement efforts. 

Crabsi Payments implements and maintains procedures and measures designed to safeguard Customer’s funds.  Crabsi Payments fully complies with the relevant safeguarding requirements of applicable laws, as well as directives and instructions of FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).

Particularly, Crabsi Payments safeguards Customers’ funds received in exchange for the issue of electronic money and funds received from Customers or via another payment service provider (including a credit institution/bank) for the execution of payment transactions, for the provision of payment services not connected to the issue of electronic money.

Crabsi Payments ensures that the funds received are legally protected in the interest of Customers, particularly holders of electronic money and users of payment services (including payment services not connected to the issue of electronic money), against demands from other creditors, particularly in the case of dissolution, liquidation or insolvency.

Crabsi Payments ensures and guarantees that in the event of its dissolution, and/or liquidation, the funds safeguarded will be distributed to the rightful owners in priority over the claims of other creditors of Crabsi Payments.

Crabsi Payments does not commingle safeguarded  Crabsi Payments deposits safeguarded funds in separate so-called customers’ accounts with credit institutions in Canada and the EU Member States:

In case of the provision of payment services not related with the issue of electronic money and in case Customers’ funds are held by  Crabsi Payments and not delivered to a payee or transferred to another payment services provider (including a credit institution/bank) by the end of the business day following the day when the funds have been received, Crabsi Payments deposits such funds in its customers’ accounts.

In case Crabsi Payments receives funds in the exchange for electronic money to be issued and until their redemption deposits such funds in its customers’ accounts.

The Customer must observe the condition of electronic money purchase. If the Customer chose a payment instrument for electronic money purchase that is subject to a chargeback right, the Customer agrees that it will not exercise the chargeback right and will not chargeback any electronic money purchase the Customer made by using that payment instrument and that was credited to Customer’s account other than on occasions where  Crabsi Payments did not fulfil obligations under these Terms, which would result in Customer having the right to a refund of electronic money purchased.

Without limiting  Crabsi Payments’s rights or remedies under these Conditions or any applicable law, if Customer cancels, chargebacks or reverses an electronic money purchase, the Customer is responsible for paying  Crabsi Payments funds equal to the par value of the electronic money purchased, plus applicable fees.  Crabsi Payments may, at its discretion, recover the amount of a cancelled purchase or chargeback of electronic money by reducing the balance on Customer’s account or otherwise collecting the amount from Customer.  Crabsi Payments may charge Customer the fees and expenses Crabsi Payments incur in connection with a chargeback and action undertaken to challenge the same.

Crabsi does not accept payments from or to sanctioned countries and territories in accordance with the laws, regulations and internal policies. 

Crabsi does not provide services to Customers, who are engaged in restricted activities. For the purposes of these Terms the restricted activities are: breach of these Terms; breach of law, statute, contract or regulation; breaches of  Crabsi Payments copyrights, patents, trademarks or any other intellectual property rights; provision of false, inaccurate or misleading information; failure to provide information as requested by  Crabsi Payments; send or submit to  Crabsi Payments documents that  Crabsi Payments reasonably believes to be fraudulent; attempt any action that might lead to unjust enrichment during the dispute; usage of anonymising proxy; use services provided by  Crabsi Payments that may result in dispute, claim, fines etc.; disclose information of other Customers to third parties; facilitate any viruses, Trojan horses, worms or other computer programming tools that may make damage to  Crabsi Payments E-Money system.

Crabsi Payments does not accept payments from or to sanctioned countries and territories in accordance with the laws, regulations and internal policies, including but not limited to Abkhazia, Afghanistan, Antarctica, Barbados, Burkina Faso, Cameroon, Chad, Congo (the Democratic Republic of the), Crimea, Cuba, Haiti, Iran (the Islamic Republic of), Iraq, Jamaica, Korea (the Democratic People’s Republic of), Mali, Mozambique, Myanmar, Pakistan, Palestine, State of Panama, Russian Federation (the), Somalia, South Ossetia, South Sudan, Syrian Arab Republic (the), Togo, Trinidad and Tobago, Vanuatu, Yemen.

It is the Customer’s sole responsibility to ensure that Crabsi Payments’ services are not used for any transactions that could be deemed illegal.

The Customer must refrain from engaging in the following actions:

• Using Crabsi Payments’ services to obtain a cash advance from a credit/debit card or assisting others in doing so;
• Using Crabsi Payments’ services in a way that could lead to abuse of a bank’s reversal process, credit card systems, or violation of credit card association rules;
• Using Crabsi Payments’ services for activities that contravene applicable laws, contracts, statutes, or regulations, including but not limited to laws related to money laundering, fraud, criminal activity, financial services, unfair competition, or consumer protection;
• Sending unsolicited emails or engaging in other forms of mass messaging (spam);
• Tampering with, hacking, modifying, damaging, or interfering with the security or functionality of Crabsi Payments’ services, or attempting to do so;
• Violating Crabsi Payments’ or third parties’ intellectual property rights;
• Refusing to cooperate with an investigation to verify the identity of the Customer, Customer representative, or beneficial owner, or refusing to provide any requested information or documents required by Crabsi Payments under applicable law or these Terms.

This list is not exhaustive, and it remains the Customer’s responsibility to avoid using Crabsi Payments’ services for any transactions or activities that may be considered illegal.

The Customer acknowledges that some transactions or options for receiving, purchasing, transferring, or redeeming electronic money may require different types of identity and security validation and verification checks, which may include third-party verification systems. The Customer agrees to submit to these checks when choosing options that require them.

Additionally, these transactions may be subject to specific minimum or maximum limits.

Crabsi Payments may validate and verify any information or data the Customer provides.

The Customer warrants and represents that:

• If the Customer is a registered entity (e.g., LLC), at least one director is domiciled in the place of incorporation and the registered address;
• The Customer will provide its Products/Services to customers without undue delay;
• The Customer’s Products/Services comply with the applicable laws in any jurisdiction where the Customer offers its goods and services;
• The Customer holds all necessary licenses and permits to advertise and provide its goods and services;
• The Customer is not involved in any illegal, fraudulent, deceptive, or manipulative practices and does not send or receive funds from illegal sources.

The Customer agrees to indemnify Crabsi Payments against any losses, costs, liabilities, or expenses (including attorney’s fees) arising from the Customer’s failure to comply with these Terms.

Crabsi Payments may deduct such losses and expenses at its discretion.

Crabsi Payments reserves the right to amend these Terms at any time by notifying the Customer. Such notice may be provided via email, posted on the Crabsi Payments website, or displayed when the Customer accesses their account. Any amendments will become effective as specified in the notice unless the Customer objects within 30 calendar days. If the Customer objects, it will be considered a notice of termination of the agreement, and the Customer may close their account. The parties may terminate the relationship in accordance with these Terms.

Crabsi Payments may also use its website to inform the Customer about changes to these Terms. Posting a notice on the website will be considered a valid notification. The Customer is encouraged to regularly review the website and/or check their online reporting for updates.

The Customer may close their account with one month’s notice to Crabsi Payments. The Customer must inform Crabsi Payments of their decision to close the account. Upon request, Crabsi Payments may agree to close the account immediately. The account will be closed immediately if the Customer disagrees with changes to these Terms.

When closing the account, the Customer is responsible for canceling pending transactions and any pending electronic money transfers.

Closing the account does not result in the deletion of data held by Crabsi Payments. Crabsi Payments will continue to retain this data, including transaction history, for a minimum of five years, or longer if required by law or Crabsi Payments’ Privacy Policy.

Crabsi Payments may also close the Customer’s account or any related payment services with 10 (ten) business days’ notice.

Crabsi Payments may suspend or restrict account functionality or close the account without prior notice for reasons including but not limited to:

• Suspected unauthorized or fraudulent use of the account;
• Compromise of login details;
• Persistent or serious breaches of these Terms;
• Inappropriate sharing of account access;
• Provision of false information or documents;
• Suspicion of unauthorized use of credit/debit cards or bank accounts;
• Abuse of reversal or chargeback processes;
• Refusal to cooperate with investigations or provide necessary identification information;
• Transactions that may be considered cash advances or assisting others with cash advances;
• Engagement in illegal or fraudulent activity, including receiving or transferring funds of suspicious origin;
• Security, credit, or fraud risks to Crabsi Payments;
• Compliance with anti-money laundering or anti-terrorist financing investigations;
• Abuse of Crabsi Payments staff or threatening behavior;
• Insolvency, bankruptcy, or suspension of commercial activities;
• Violation of laws applicable to the Customer’s use of Crabsi Payments services;
• Requirement by law or court order, or compliance with government authority instructions.

Unless informing Customer would compromise reasonable security measures or otherwise be unlawful,  Crabsi Payments will where practicable notify Customer in advance or immediately afterwards of the closing of Customer’s account or suspension or restriction of the functionality of Customer’s account and Customer’s right to request Transactions and receive electronic money transfers. If the reason for the suspension of Customer’s account can be reasonably cured or remedied,  Crabsi Payments will notify Customer of action to be taken to eliminate the reason and to restore the functionality of Customer’s account.

If  Crabsi Payments close Customer’s account,  Crabsi Payments will redeem any unrestricted or undisputed amount of electronic money in Customer’s account according to these Terms.

If  Crabsi Payments suspects that Customer is engaging in an activity referred to these Terms,  Crabsi Payments may contact the relevant government authority, recognised crime prevention body and other third parties and disclose details of any prohibited activities, under  Crabsi Payments Privacy Policy or any applicable law and/or take legal action against Customer.

If Customer does not access Customer’s account for 9 (nine) months,  Crabsi Payments will close it. After closure  Crabsi Payments will attempt to notify Customer using the last contact details Customer gave  Crabsi Payments to try to send Customer any funds for redemption in Customer’s account. If that information is not correct and  Crabsi Payments are unable to complete the payment to Customer, then the available balance on Customer’s account.

By accepting these Terms, the Customer also agrees to the Crabsi Privacy Policy. 

Customer is fully responsible for Customer’s compliance with the applicable data and privacy laws, including obtaining all consents that may be necessary to provide personal information to Crabsi or third parties. 

Customer shall have its own independently determined privacy policy, notices and procedures for personal information Customer processes as a data controller. In complying with the applicable data and privacy laws Customer and Crabsi shall each separately without limitation: 

• implement and maintain at all times all appropriate technical and organisational security measures in relation to the processing of personal information; 
• maintain a record of all activities on the processing of personal information carried out; 
• provide information as may be reasonably requested by the other party to demonstrate compliance with obligations under the applicable data and privacy laws; 
• not knowingly do anything to permit anything to be done which might lead to a breach by the other party of the data and privacy laws applicable to that party. 

The Customer acknowledges and accepts that: 

• for quality assurance, security and fraud detection purposes, when speaking to members of Crabsi customer support service, the Customer’s call may be monitored and/or recorded; 
• for fraud and security purposes Crabsi keeps personal information submitted by Customer even after Customer’s account is closed if so requested by the applicable law, these Terms or Crabsi Privacy Policy; 
• for identity validation and verification purposes Crabsi may make the following information available to other business entities and users to which Customer transfers electronic money or from which Customer receives electronic money transfers: Customer’s name, account number, legal jurisdiction, address, email address and/or IP address. 

The Customer further acknowledges and undertakes to maintain the confidentiality of information, including the confidentiality of technical and financial information, Customer receives while using or receiving Crabsi services about other business entities, users or Crabsi, or Crabsi’s technology and Customer undertakes to use this information only in connection with Crabsi services. 

Neither party shall disclose to any person (unless required to do so by any applicable law or by any regulatory or supervisory authority or by any other person entitled by law to require such disclosure) any information relating to the business, transactions, finances or other matters of confidential nature of the other party which it may in the course of its duties or otherwise become aware, and each party shall use all reasonable endeavours to prevent any such disclosure; 

By adhering to these Terms, the Customer acknowledges, understands and accepts that its data such as, including but not limited to, email and/or phone number may be processed by Crabsi and may be demonstrated to another Crabsi Customer in the frame of using Crabsi E-Money System, as a result of Crabsi recommendations to the Customer in relation to different Transaction methods within the Crabsi E-Money System. 

By adhering to these Termst, the Customer authorizes Crabsi to disclose such information relating to the Customer as may be required by any law, rule, counterparties, or regulatory authority without prior notice to the Customer.

The rights and remedies contained in these Terms shall be cumulative and not exclusive of any rights or remedies provided by law. No delay or omission of Crabsi in exercising any right, power or remedy provided by law or under these Terms, or partial or defective exercise thereof, shall: 

• impair or prevent any further or other exercises of such right, power or remedy; or 
• operate as a waiver of such right, power or remedy;

No waiver of a breach of all or part of these Terms shall (unless expressly agreed in writing by the waiving party) be construed as a waiver of any future breach of the same or as authorizing a continuation of a particular breach. 

The Customer shall indemnify Crabsi and keep Crabsi indemnified against all Deductions, losses, taxes, expenses, costs, and liabilities whatsoever (present, future, contingent or otherwise, and including reasonable legal fees) which may be suffered or incurred by Crabsi as a result of or in connection with: 

• Any breach of these Terms, applicable laws and the Regulations by the Customer; 
• As a result of illegal actions performed by the Customer using Crabsi services. 

The Customer acknowledges that a breach of some provisions of these Terms may cause irreparable harm to Crabsi. Taking into consideration the complexity of such harm, its indefinite duration and dependance on the third parties, the Parties hereby agree that for the admitted aggregation (which isn’t declared in the Customer Application and does not comply with the Customer’s stated goods and services type or any Transaction made on behalf another entity without Crabsi’s approval) the Customer shall pay, as liquidated damages, 150 000,00 EUR (one hundred and fifty thousand euro and 00 cents) for each revealed case of such violation. The Parties confirm that this sum represents a genuine pre-estimate of Crabsi’s damages suffered as a result of that particular breach. The above shall not exclude the Crabsi’s right to claim damages in excess of the liquidated damages in accordance with the general provisions of applicable law, moreover, the payment of such liquidated damages does not release the Customer from reimbursement/indemnification against any costs, interests, fees, charges, penalties, assessments and fines subsequently caused by such violation.

The Customer acknowledges that a breach of some provisions of these Terms may cause irreparable harm to Crabsi. Taking into consideration the complexity of such harm, its indefinite duration and dependance on the third parties, the Parties hereby agree that in case any of the banks, APM Systems, their agents or the third-party facilitators terminates the business relations (fully or partially) with Crabsi because of the actions of the Customer under these Terms, the Customer shall pay, as liquidated damages, 100 000,00 EUR (one hundred thousand euro and 00 cents) for each bank, APM System, its agent or third-party facilitator. The Parties confirm that this sum represents a genuine pre-estimate of Crabsi’s damages suffered. The above shall not exclude the PSP’s right to claim damages in excess of the liquidated damages in accordance with the general provisions of applicable law, moreover, the payment of such liquidated damages does not release the Customer from reimbursement/indemnification against any costs, interests, fees, charges, penalties, assessments and fines subsequently caused by such violation.

The Customers hereby warrants that it is not located in and will not use the Services in relation to any of these prohibited jurisdictions:

Afghanistan, Cuba, Iran, North Korea, Syria, Russian Federation, Belarus, Regions of Ukraine: Crimea, Donetsk and Luhansk, Myanmar (Burma), Central African Republic, China, Congo DR, Lebanon, Libya, Mali, Nicaragua, Somalia, Sudan, Venezuela, Yemen.

The list provided above is non-exhaustive and may be updated at any time without prior notice.

The Customer and Crabsi shall make every endeavour to amicably resolve any dispute, in good faith and in a constructive manner. The Customer acknowledges and agrees that threats and blackmailing towards Crabsi are prohibited and constitute a valid ground for interrupting negotiations and for immediate termination of any business relationships; 

In carrying out any activities under these Terms, the Parties shall observe the laws of Canada. 

In the first instance, the Customer shall raise any complaint relating to the services provided under these Terms with Crabsi. 

The Parties shall endeavour to settle all disputes and discrepancies arising from these Terms and relating to execution, validity and abrogation of these Terms via negotiations. If such negotiations last for more than 20 (Twenty) Business Days this dispute and discrepancy shall be submitted, at the discretion of any Party to the Courts of Canada. Crabsi may also sue the Customer in connection with these Terms in the jurisdiction in which that respective Party has its registered office (if different). 

These Terms are governed by the laws of Canada. 

In carrying out any activities under these Terms, the Parties shall observe applicable laws and Regulations. 

No term of these Terms is intended to confer a benefit on or to be enforceable by, any person who is not a party of these Terms. 

None of the Parties shall assign or transfer these Terms or any or all of their rights and/or obligations under these Terms nor any part of it, nor any benefit nor interest in or under it, to any third party without the prior written consent of the other Party which shall not be unreasonably withheld; provided, however that Crabsi may assign these Terms without the consent or approval of Customer to Crabsi parent or subsidiary or associated companies, in connection with a merger, reorganization, recapitalization or sale of all of or substantially all of Crabsi stock, business or assets. Any attempt to assign these Terms other than as permitted herein shall be null and void. Subject to the foregoing, these Terms will be fully binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns.

No failure or omission by any Party to carry out its obligations or observe any of the stipulations or conditions of these Terms shall give rise to any claims against the party in question or be deemed a breach of these Terms, if such failure or omission arises from a cause of force majeure, such as acts of God, war or warlike hostilities, civil commotion, riots, blockades, embargos, sabotage, strikes, lockout, shortage of labor, delay in deliveries of whatsoever from sub-contractors or machine failure caused by force majeure, or any other event beyond the control of the party in question.

Any notice to be given by either of the Parties hereto to the other in connection with this Terms shall be in writing and shall be delivered to the address stated in this Terms or Customer application or to such other address as either party may notify to the other for such purpose unless provision of notice is explicitly stipulated otherwise by these Terms.

Customer while using  Crabsi Payments software such as an API, reporting system, software developer’s toolkit or other software application that Customer have downloaded to Customer computer, device, or other platform then  Crabsi Payments and its licensors grant Customer a limited nonexclusive license to use the software in accordance with the documentation, including all updates, upgrades, new versions and replacement software, as described herein for Customer personal use only. Customer may not rent, lease or otherwise transfer his rights in the software to a third party. Customer must comply with the implementation and use requirements contained in all documentation, together with any instructions provided by  Crabsi Payments from time to time accompanying the  Crabsi Payments services (including, without limitation, any implementation and use requirements  Crabsi Payments impose on Customer to comply with applicable laws and card scheme rules and regulations).

If Customer does not comply with  Crabsi Payments instructions, implementation and use requirements Customer will be liable for all resulting damages suffered by Customer,  Crabsi Payments and third parties. Customer agrees not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code which is derived from the software. Customer acknowledges that all rights, title and interest to  Crabsi Payments’s software are owned by  Crabsi Payments. Any third party software application Customer use on  Crabsi Payments website is subject to the license Customer agreed to with the third party that provides Customer with this software.