Limitations of Association’s Liability and Consideration of Disputes
- The Association is not liable before the members of the Association for the facts and acts which can arise in connection with the electronic communication, except for the cases of negligence or willfull violation by the Association of its authorised (declared) activities within the frame of the present Rules & Regulations.
- The Association is not liable for any loss caused by applicant’s/member’s legal incapacity or by applicant’s/member’s attorneys, assignees, liquidators or other authorised parties until the Association receives the written notice which proves such legal incapacity.
- Prospective applicant/member undertakes to secure the Association and prevent damages, losses, charges, claims, actions and other obligations or amounts of money paid by Association as a result of actions, made by the Association when performing the instructions or inquiries dealing with the way of payment or sending information as it is specified by applicant/member in the given application or the subsequent instructions through the communication.
- The official language of the application, binding documents and communication is English.
- The application, binding documents and any other subsequent applications or documents are exclusively governed by Laws of Cyprus and any claim should be submitted to the exclusive jurisdiction of competent courts of Cyprus.
- Prospective Applicant/Member supports objectives and activities of the Association and they gave voluntary and truthfully requested information in the application in order to become the member.
- Prospective Applicant/Member agrees that if the documents required by the laws and regulations in the field of money laundering are not provided with the application, the request of membership can be suspended until these documents are received by the Association.
- The Association and its counterparts guarantee the confidentiality of the information provided by the applicant/member in communication with the Association.
- The Association is obliged to send documents to the applicant/member in electronic form via e-mail address stated in the application.
- Association will not be liable for any loss caused by the fact that applicant/member will not use provided e-mail address for communication.
- The Association has the right to record telephone conversations with the applicant/member which can be used later as a proof in case of conflicts.
- The situation where the record cannot be taken or kept cannot be used against the Association.
Reliability of the Information Provided by the Applicant/Member
- The Association does not bear any liability for not full, inaccurate, wrong or erroneous information required within the frame of the communication.
- Applicant/Member undertakes to inform the Association about all possible changes in the information described in the application through regular communication with the Association.