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Terms and conditions

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SOLIDUS GEAR PTE. LTD. SVF Terms and Conditions

These terms and conditions (“Terms and Conditions”) forms part of the contract between you and SOLIDUS GEAR PTE. LTD. (the “Company”), a company incorporated in the Republic of Singapore, and governs your use of SOLIDUS GEAR (the “Services”). Using the Services means that you accept all the Terms and Conditions contained herein and in other agreements which constitute the contract between you and the Company. You should read all these terms and conditions carefully.

Consumer advisory – The SOLIDUS GEAR wallet facility (“Facility”) is regarded as a stored value facility under Singapore law. The Company, the holder of SOLIDUS GEAR stored value facility (“SVF”), does not require the approval of the Monetary Authority of Singapore. Consumers (users) are advised to read the terms and conditions carefully.

1. SOLIDUS GEAR Services

1.1 Services. Your will be provided with a SOLIDUS GEAR wallet facility, which will give you access to the SOLIDUS GEAR payment facility.

1.2 Fees.

1.2.1 SOLIDUS GEAR Fees – The detailed fee structure is available when you are processing the payment.

1.2.2 Third-Party SVF Processing Fees – SOLIDUS GEAR may, at its sole discretion, use the facilities and/or services of an external vendor, such as a regulated bank, credit card issuer, Stored Value Service provider, etc, to facilitate the transaction. Additional charges may apply which will be updated on our website.

1.3 Account Status.

1.3.1 UNVERIFIED ACCOUNT – To register an UNVERIFIED account, you must provide to SOLIDUS GEAR the following:

After you have successfully registered with SOLIDUS GEAR for an unverified account, said unverified account is designated as “UNVERIFIED”. This unverified status is subject to restrictions such as limits on the account balance and the quantum of transactions. To remove the restrictions, you will have to register with SOLIDUS GEAR for a verified account. (see VERIFIED ACCOUNT below).

1.3.2 VERIFIED ACCOUNT – For account verification, you must provide detailed information about the account holder, as required by SOLIDUS GEAR AML/KYC PROCEDURES. Save for restrictions on VERIFIED account in these Terms and Conditions, VERIFIED accounts have no limits on the account balance and quantum of transactions.

1.4 Account Balance. Once your SOLIDUS GEAR e-wallet is opened, you will be able to make transfers of money from your own bank account or using other payments methods (Credit/debit card) to your SOLIDUS GEAR ewallet. The transfer will be made to a Company bank account. The details of the Company bank account will be provided together with a reference number for each of the money transfers. Please note that without the reference number on the subject of your bank transfer, we will be unable to identify the SOLIDUS GEAR e-wallet to which such money is to be transferred.

SOLIDUS GEAR will hold your funds in ring-fenced (funds allocated for client accounts) separate from its corporate funds, and the company will not use your funds for its operating expenses or for any other corporate purposes.

SOLIDUS GEAR will not voluntarily make your funds available to its creditors in the event of bankruptcy. You will not receive interest or other earnings on the amounts in your balance. SOLIDUS GEAR may receive interest on amounts that SOLIDUS GEAR holds on your behalf. You agree to assign your rights to SOLIDUS GEAR for any interest derived from your funds.

1.5 Eligibility. To be eligible to use the SOLIDUS GEAR Services, you must be at least 18 years old or above, based on the age of your jurisdiction, and a citizen and/or resident of one of the countries listed on the SOLIDUS GEAR Country List page. During the registration process you must provide a valid mobile phone number and an e-mail.

Please note that American and American Green Card holders are eligible after additional approval by our site and completing the FACTA special questionnaire.

You must list your current country of residence in your SOLIDUS GEAR e-wallet and provide a proof-ofaddress. This Agreement applies only to Users who are residents of one of the countries listed on the SOLIDUS GEAR Country List.

The Company reserves the right to reject you if your details are incomplete.

1.6 Information and Record Keeping. In order to open and maintain a SOLIDUS GEAR e-wallet, you must provide SOLIDUS GEAR with correct and up-to-date information.

(a) Your Contact Details. It is your responsibility to keep your email address up to date so that SOLIDUS GEAR can communicate with you electronically. You understand and agree that if SOLIDUS GEAR sends you any electronic communications but you do not receive it because your email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic communications, SOLIDUS GEAR will be deemed to have provided the communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add SOLIDUS GEAR to your email address book so that you will be able to receive the communications we send to you. If your email address becomes invalid such that electronic communications sent to you by SOLIDUS GEAR are returned, SOLIDUS GEAR may deem your account to be inactive, and you will not be able to transact any activity using your SOLIDUS GEAR e-wallet until we receive a valid, active email address from you. You will be able to update your contact details at any time by logging into the SOLIDUS GEAR website.

(b) Identity Verification. You authorize SOLIDUS GEAR, directly or through third parties, to make any enquiries we consider necessary to validate your identity as part of our “Know Your Customer” (KYC) processes. This may include asking you for further information or documentation, requiring you to provide a taxpayer or national identification number or supporting documentation as a proof of your current address, requiring you to take steps to confirm ownership of your email address or financial instruments or verifying your information against third party database or through other sources.

(c) Further Details. You authorize SOLIDUS GEAR, directly or through third parties, to make any additional enquiries we consider appropriate to exercise Customer Due Diligence (CDD) or Enhanced Due Diligence (EDD), if necessary, or SOLIDUS GEAR has reasonable doubts about the veracity or adequacy of any information previously obtained.

(d) You authorise SOLIDUS GEAR to obtain and record information relating to you, including but not limited to the following:

(i) Full name, including any aliases;

(ii) Unique Identification Number (such as that of an identity card number, birth certificate or passport number, or where you are not a natural person, the company registration or business registration number);

(iii) Existing residential address, registered or business address (as may be appropriate) and contact telephone number(s);

(iv) Nationality or place of incorporation or registration (as may be appropriate);

(v) Contact details, including but not limited to, email address(es) and telephone number(s).

(e) Where the customer is a company or partnership, SOLIDUS GEAR is authorised to request and record details of the directors of the company and details of the partners, respectively, to understand the ownership and control structure of the customer. Should the user by any other body corporate or unincorporated, SOLIDUS GEAR is authorised to request and record details of the person(s) / individuals having executive authority in that body corporate or unincorporated. SOLIDUS GEAR will retain the above information as follows:

(i) For a period of seven years following the termination of business relations with you for customer identification information and other documents relating to the establishment of business relations, includingaccount files;

(ii) For a period of five years following the completion of the transaction for records relating to a transaction, including any information needed to explain and reconstruct the transaction. 

1.7 Beneficial Owner. You must be the beneficial owner of the SOLIDUS GEAR e-wallet and conduct business only on behalf of yourself. Please note that a beneficial owner in relation to a SOLIDUS GEAR e-wallet means the natural person, who ultimately owns or controls a customer or the person on whose behalf a transaction is being conducted.

2. Payments

2.1 Currency. When you make a transaction through the SOLIDUS GEAR e-wallet you must select the currency you would like to use for each of your transactions: USD or EUR.

2.2 Third Party SVF as Payment Method. By using third party’s facility as a payment method, you are providing SOLIDUS GEAR with continuous authority to automatically charge your SOLIDUS GEAR e-wallet the relevant funds as a payment method pursuant to this Agreement.

2.3 Topping-Up your SOLIDUS GEAR account, using third-party not-named and non-identified SVF (e-wallets, e-coins, bitcoins, etc.) is prohibited.

3. Withdrawals

You may withdraw funds from your SOLIDUS GEAR e-wallet by electronically transferring them to your local bank account. Depending on the country of residence or in which your local bank account is opened, the currencies in which you may withdraw your funds to your local bank account may be limited. The applicable fees are set out in Section 1.2 above.

4. Closing Your SOLIDUS GEAR Account

You may close your SOLIDUS GEAR Account at any time by following the instructions on your profile. You must withdraw your balance prior to closing your SOLIDUS GEAR Account. We will require a formal request to close your SOLIDUS GEAR Account sent to [EMAIL_ADDRESS] and a letter of authorisation bearing your name and signature. Your SOLIDUS GEAR Account will be closed within fifteen (15) working days upon receipt of the requested documents. You may not evade an investigation by closing your SOLIDUS GEAR Account. If you close your SOLIDUS GEAR
Account while we are conducting an investigation, we may hold your funds to protect SOLIDUS GEAR or a third party against the risk of claims, fees, fines, penalties, or any other liabilities. You will remain liable for all obligations related to your SOLIDUS GEAR Account even after the account is closed.

5. Errors, Unauthorised Transactions and Activities

5.1 Notification Requirements. You should immediately notify SOLIDUS GEAR if you believe:

(a) there has been an unauthorised transaction or unauthorised access to your SOLIDUS GEAR e-wallet;

(b) there is an error in your SOLIDUS GEAR e-wallet history or in your transaction confirmation sent to  you by email; or

(c) your password has been compromised.

When you notify us, please provide us with the following information:

(a) your name and email address registered to your SOLIDUS GEAR e-wallet;

(b) a description of any suspected errors, unauthorised transactions or activities and an explanation as to why you believe it is incorrect or why you need more information to identify the transaction; and

(c) the amount of any suspected error, unauthorised transaction or activity.

5.2 SOLIDUS GEAR’s Actions. Once you notify us of any suspected errors, unauthorised transactions or activities, we will do the following:

(a) conduct an internal investigation to determine whether there has been an error, unauthorised transaction or activity that is eligible for protection;

(b) complete the investigation within ten (10) working days of the date SOLIDUS GEAR received your notification of the suspected error, unauthorised transaction or activity. Should any more time be required, you will be notified so immediately;

(c) inform you of the results of our investigation within three (3) workings days upon completion of the internal investigation. Should you have received less than the correct amount to which you are entitled, SOLIDUS GEAR shall credit your SOLIDUS GEAR e-wallet for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, SOLIDUS GEAR will debit the extra funds from your SOLIDUS GEAR e-wallet. If you erroneously send a payment to the wrong party, or send a payment for the wrong amount (based on a typographical error, for example), your only recourse will be to contact the party to whom you sent the payment and ask them to refund the payment. SOLIDUS GEAR will not reimburse you or reverse a payment that you have made in error.

6. Restricted Activities

In connection with your use of our website, your SOLIDUS GEAR e-wallet, the Services, or in the course of your interactions with SOLIDUS GEAR, other users or third parties, you will not:

(a) breach this Agreement or any other policy that you have agreed to with SOLIDUS GEAR;

(b) violate any law, statute, ordinance or regulation;

(c) infringe SOLIDUS GEAR’s or any third-party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;

(d) act in a manner that is defamatory, threatening or harassing to SOLIDUS GEAR, its third parties or users;

(e) provide false, inaccurate or misleading information;

(f) engage in potentially fraudulent or suspicious activity and/or transactions, including money laundering and financing of terrorism;

(g) refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

(h) receive or attempt to receive funds from both SOLIDUS GEAR and the transferor for the same transaction during the course of a dispute;

(i) use the Services in a manner that results in or may result in complaints, disputes, fees, fines, penalties
and other liability to SOLIDUS GEAR, other users, third parties or you;

(j) use your SOLIDUS GEAR e-wallet or the Services in a manner that SOLIDUS GEAR or any other electronic funds transfer network reasonably believes to be an abuse of the payment system or a violation of payment association or network rules;

(k) allow your SOLIDUS GEAR e-wallet to have a negative balance;

(l) access the Services by a national or resident of any of the countries which are not listed in Section 1.3 above;

(m) disclose or distribute another SOLIDUS GEAR customer’s information to a third party, or use the information for marketing purposes unless you receive the customer’s express consent to do so;

(n) facilitate any viruses or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information; and

(o) take any action that may cause us to lose any of the services from our internet service providers or other suppliers.

7. SOLIDUS GEAR’s Actions

If SOLIDUS GEAR, in its sole and absolute discretion, believes that you may have engaged in any Restricted Activities under Section 6 above, SOLIDUS GEAR may take various actions to protect SOLIDUS GEAR and/or its subsidiaries (if any), other users, other third parties or you, from claims, fees, fines, penalties and any other liability. The actions SOLIDUS GEAR may take include but are not limited to the following:

(a) close, suspend or limit your access to your SOLIDUS GEAR e-wallet or the Services;

(b) refuse to provide the Services to you now and in the future;

(c) hold your funds for a period of time reasonably needed to protect against the risk of liability to SOLIDUS GEAR or a third party, or if we believe that you may be engaging in potentially fraudulent or suspicious activity and/or transactions;

(d) report to the competent authorities of transactions suspected of being connected with money laundering or terrorism financing;

(e) terminate the Services, access to the SOLIDUS GEAR e-wallet for any reason and at any time upon notice and payment to you of any unrestricted funds held in your balance to the bank account provided by you upon notification of termination of this Agreement. You acknowledge that SOLIDUS GEAR’s decision to take certain actions, including limiting access to your SOLIDUS GEAR e-wallet or placing holds, may be based on confidential criteria that is essential to our risk management and security policies. You agree that SOLIDUS GEAR is under no obligation to disclose to you the details of its risk management and security policies.

8. Indemnity

You hereby agree to indemnify and save SOLIDUS GEAR harmless against all damages, losses, expenses and costs (including legal costs) suffered or incurred by SOLIDUS GEAR in connection with or arising from:

(a) your access of this website and/or the use of Services;

(b) any other party’s access of this website and/or use of the online services using your user id and/or

(c) your breach of this Agreement; and

(d) any other party’s breach of any of this Agreement where such party was able to access this website
and/or use the Services by using your user id and/or password.

9. Copyright and Trademark Notices

Except as otherwise expressly stated herein, the copyright and all other intellectual property in the contents of this website (including, but not limited to, all design, text, sound recordings, images or links) are the property of SOLIDUS GEAR and/or its subsidiaries, if any. As such, they may not be reproduced, transmitted, published, performed, broadcast, stored, adapted, distributed, displayed, licensed, altered, hyperlinked or otherwise used in whole or in part in any manner without the prior written consent of SOLIDUS GEAR. Save and except with SOLIDUS GEAR’s prior written consent, you may not insert a hyperlink to this website or any part thereof on any other website or “mirror” or frame this website, any part thereof, or any information or materials contained on this website or any other server, website or webpage.

All trademarks, service marks and logos used on this website are the property of SOLIDUS GEAR, its subsidiaries and/or the respective third-party proprietors identified on this website. No license or right is granted and your access to this website and/or use of the Services does not grant any license or right to use any trademarks, service marks or logos appearing on the website without the prior written consent of SOLIDUS GEAR. No such trademark, service mark or logo may be used as a hyperlink or to mark any hyperlink to any SOLIDUS GEAR’s site or any other site, without the prior written consent from SOLIDUS GEAR.

10. Governing Law and Jurisdiction

By accessing this website and/or using the Services, you agree that such access and/or use, as well as these Agreement, shall be governed by, and construed in accordance with, the laws of Singapore. Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SAIC Rules”). The arbitration will be in English.

(UEN: 201722668H)