Terms & Conditions

1. Definitions

• Application - The registration form on the MAXNAM website that must be completed to apply for an account.
• Business Day - Any day other than a Saturday, Sunday, or statutory holiday in the Province of British Columbia, Canada, on which banks are generally open for business.
• Client Account - The non-bank current account held with us, which you use to access our Services.
• Client Identification - The Know Your Customer (KYC) and due diligence procedures we perform to verify your identity, as required by anti-money laundering (AML) and counter-terrorist financing (CTF) laws.
• Authorized Representative - A person you have duly authorized to act on your behalf in dealings with us, supported by appropriate legal documentation.
• Compliance - Adherence to all applicable laws, regulations, and our internal policies, including those related to AML, CTF, data privacy, and security.
• Customer Support - Our team you can contact via the email address provided on our Website.
• Login Credentials - Your username, password, one-time passwords (OTPs), and any other security features used to access your Client Account.
• FINTRAC - The Financial Transactions and Reports Analysis Centre of Canada, our primary regulator for anti-money laundering compliance. Further information is available at https://fintrac-canafe.canada.ca/intro-eng.
• Fee Schedule - The document outlining all charges for using our Services, provided to you separately.
• Cookies Policy - The policy governing our use of cookies on the Website, available online.
• Payment Order - An instruction you give us, via email, to execute a Payment Transaction.
• Payer - The person or entity initiating a payment to you.
• Payee - The person or entity you designate to receive funds from a Payment Transaction.
• Payment Instrument - The method used to fund your Client Account or initiate payments, such as electronic funds transfers or card payments.
• Payment Transaction - The movement of funds into or out of your Client Account.
• Personal Information - Information about an identifiable individual, as defined in PIPEDA. Its handling is detailed in our Privacy Policy.
• Privacy Policy - Our policy explaining how we collect, use, and protect your Personal Information, available on the Website. It is based on PIPEDA and follows best practices regarding personal data protection. The statutory text is available at https://laws-lois.justice.gc.ca/ENG/ACTS/P-8.6/index.html.
• Services - The payment, transfer, and related services we provide, as described in these Terms.
• Service Providers - Third-party banks, payment processors, and other partners we engage to help provide our Services.
• Strong Customer Authentication (SCA) - An authentication method requiring at least two independent elements to verify your identity for a transaction. The method is based on guidance from the Canadian Centre for Cyber Security, available at https://www.cyber.gc.ca/en/guidance/use-strong-user-authentication, and is aligned with PSD2 principles implemented across EU member states.
• Transaction - Any action involving the movement of funds or virtual currency in or out of your Client Account.
• Website - Our website located at https://www.maxnam.com/.
• Business Hours - The hours from 6:00 AM to 4:00 PM GMT on Business Days when we process Payment Orders.
• Withdrawal - The transfer of funds from your Client Account to an external bank account you hold.

2. Scope of These Terms

2.1 These Terms govern your access to and use of our Services, including opening, maintaining, and closing a Client Account and executing Payment Transactions.

2.2 The agreement between us is formed when you submit a complete Application and we approve and open your Client Account.

2.3 By using our Services, you confirm your ongoing acceptance of these Terms. You should review the most current version on our Website regularly. Updates are effective on the date specified by us and future amendments are incorporated by reference.

2.4 These Terms, together with the Privacy Policy, Cookies Policy, Fee Schedule, and any other referenced documents, constitute the entire agreement between you and MAXNAM.

2.5 If you have any questions about these Terms, please contact us before using our Services.

2.6 You are encouraged to download and retain a copy of these Terms for your records. The current version is always available on our Website.

2.7 These Terms and all related communications will be in English.

3. Nature and Use of the Client Account

3.1 Your Client Account is a current account for holding stored value, referred to as funds, money, or virtual currency, and for sending and receiving Payment Transactions. The Client can check the balance and view transaction history via email.

3.2 Funds in your Client Account do not constitute a deposit. We do not pay interest on balances or provide benefits related to storing funds in the account.

3.3 We may hold and transfer funds in any currency we support.

3.4 Funds in the Client Account do not expire, subject to the account closure provisions in Section 12.

3.5 You may withdraw funds at any time, subject to identity verification and applicable withdrawal fees. There is no minimum withdrawal amount, but your balance must be sufficient to cover the fees.

3.6 We may set limits on account activity based on your risk profile and applicable legal requirements. These limits may be revised from time to time.

3.7 Your Client Account is not a bank account. MAXNAM is not a credit institution. The funds are not insured by the Canada Deposit Insurance Corporation (CDIC). We are legally required to safeguard funds by holding them in segregated accounts with authorized financial institutions, and in the event of our insolvency those segregated funds are protected from claims by our general creditors.

3.8 The funds in your account belong solely to you. You may not assign or transfer your Client Account to any third party.

3.9 We offer Individual and Corporate Client Accounts. Both require the submission of specific identification and verification documents as detailed in our Application process. Failure to provide valid documentation will result in the application being rejected.

3.10 Both account types require personal identification information including name, surname, date of birth, country of residence, citizenship, cell phone number, email address, a high-quality audiovisual recording for identification purposes, a high-quality photo or scanned copy of a valid ID document or passport, and a scanned copy of proof of address dated within the last three months.

3.11 During document verification, MAXNAM ensures that the document is valid, shows no obvious signs of forgery such as smears or damage, and meets legal quality standards for content, clarity, and accuracy. Applications will not be processed further if required pages are missing.

3.12 The Client confirms that the submitted document includes all necessary pages, grading scales, legends, and translations, and that the file is complete, correctly oriented, readable, and shows all four corners of the document.

3.13 If proof of identity or proof of address cannot be accepted for any reason, such as a non-genuine ID image, MAXNAM reserves the right to deny the application and cease further processing.

3.14 MAXNAM reserves the right not to report to authorities at this initial stage of establishing a relationship with a potential Client because it may be unable to determine whether the failure to meet standards stems from legal non-compliance or refusal to collaborate.

4. Applying for and Opening an Account

4.1 To use our Services, you must first submit an Application form, whether individual or corporate. We may require payment of an account opening fee and reserve the right to refuse services to residents of sanctioned countries or countries identified as high risk by regulatory bodies and sanctions lists.

4.2 The Client must be at least 18 years old to open an account. By applying, you declare that you meet this age requirement.

4.3 To become a Client, you must provide all necessary information during the registration process on the Website. All information provided during signup or at any time thereafter must be accurate, complete, and truthful.

4.4 We are legally required to perform identity, security, and due diligence checks. You agree to cooperate with these procedures, which may include requests for additional information or documents at your own expense.

4.5 We may use third-party services to verify your information. You consent to this use of your Personal Information for verification purposes and agree to provide requested information in a language and format acceptable to MAXNAM.

4.6 You may open an account only if it is legal for you to do so in your jurisdiction of residence. You agree to indemnify us against losses resulting from a breach of this representation.

4.7 MAXNAM may make inquiries to validate and verify the information you provide, directly or through third parties. Relevant records may be left on your file with third parties and also held by MAXNAM. We may also require authorization to request and receive information or documents from other institutions or payment service providers.

4.8 You may add only Payment Instruments for which you are the legal holder. Any violation will be treated as a fraudulent act.

4.9 You may not be able to use your Client Account or access services until you have passed all identification, security validation, and verification checks and provided the information required under AML/CFT regulations.

4.10 For additional account opening requests, the Client must contact Customer Service. MAXNAM reserves the right to refuse the opening of additional accounts.

5. Maintaining Your Account

5.1 Your account is opened for an indefinite period, subject to termination as outlined in these Terms.

5.2 You are responsible for keeping your account information up to date. Failure to do so may result in losses for which we are not liable. We may periodically ask you to confirm or update your information.

5.3 You must notify us of changes to your personal, business, or contact information within seven (7) Business Days and provide supporting documentation.

5.4 We may block your account if documents are outdated, unreadable, or appear invalid. You will have seven (7) Business Days to provide corrected documents. We will typically unblock the account within two (2) Business Days of receiving acceptable documents.

5.5 We will communicate with you primarily via the email address associated with your account. You are responsible for monitoring that email account.

5.6 You should regularly review your transaction history. Unauthorized or incorrect transactions must be reported without undue delay, and no later than three (3) months after the transaction date to remain eligible for a refund. The right to dispute a transaction is lost six (6) months after the debit date.

5.7 You must maintain a positive balance. If a negative balance occurs, for example because of a reversal or fee deduction, you owe that amount to us and must replenish your account immediately.

6. Keeping Your Account Secure

6.1 You are solely responsible for maintaining the confidentiality and security of your Login Credentials. Any transaction authorized using your credentials will be considered valid and binding.

6.2 You must notify us immediately if you suspect your Login Credentials have been compromised or if you notice unauthorized activity.

6.3 We may require Strong Customer Authentication (SCA) for certain transactions to enhance security.

6.4 Authorized Representatives may be granted access to your account, but you remain fully liable for all account activity.

7. Prohibited Activities

7.1 MAXNAM has identified specific activities that are restricted or prohibited in connection with the use of its Services. These restrictions align with these Terms, applicable laws, regulations, directives, and guidelines issued by MAXNAM or relevant jurisdictions.

• Opening an account under a fictitious name, in another person's name without authorization, or using anonymous contact information.
• Using the account for activities that violate applicable laws, including money laundering, terrorist financing, fraud, or the purchase or sale of illegal goods.
• Using the Services to benefit activities that MAXNAM has identified as restricted or that are related to sanctioned entities.
• Violating any applicable law, regulation, directive, statute, or contract, including AML laws, consumer protection laws, and personal data regulations, including refusal to provide identity verification.
• Acting in an offensive, harassing, or demeaning manner toward other clients, MAXNAM, its partners, or third parties.
• Using the Services in a manner that violates banking or payment service provider standards, contradicts public order, or breaches moral principles.
• Providing false, incorrect, or misleading information.
• Engaging in transactions involving unauthorized or fraudulent funds.
• Failing to cooperate with MAXNAM's requests for additional information to verify the nature of the Client's business or transactions.
• Refusing to confirm the Client's identity or submit information reasonably requested by MAXNAM for compliance purposes.
• Using tools or mechanisms to conceal the Client's identity and location, such as proxies or anonymizing techniques.
• Operating multiple accounts with close links, such as shared control, funding sources, or beneficial ownership.
• Engaging in activities that present an increased risk of fraud or credit exposure to MAXNAM.
• Engaging in activities that may result in complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties, or adverse legal consequences for MAXNAM, other Clients, or third parties.
• Disclosing personal and identity authentication data to third parties or allowing unauthorized use of the account.
• Tampering with, hacking, modifying, or interfering with MAXNAM's Services, or attempting to do so.
• Infringing on MAXNAM's or third-party trademarks, copyrights, or intellectual property rights.
• Maintaining a negative balance in the Client Account.
• Using the Services in ways that deviate from these Terms.

7.1 Geographic Restrictions and Enforcement

7.2 The Client may not use MAXNAM Services if they reside in any country listed on the FATF blacklist, the OFAC Sanctions List, or other countries mentioned in sanctions lists or recommendations from regulatory authorities against cooperation. This list is not exhaustive, and MAXNAM may discontinue or restrict services in other countries at any time without prior notice.

7.3 The use of the Client's account for illegal purposes, including fraud and money laundering, is strictly prohibited. MAXNAM will report suspicious activity to the relevant law enforcement agencies.

7.4 If the Client conducts or attempts to conduct a transaction in violation of Section 7, MAXNAM may reverse the transaction, close or suspend the account, report the transaction to the relevant law enforcement agency or regulatory body, claim damages from the Client, and charge a fee according to the applicable Fees Schedule.

7.5 It is the Client's responsibility, not MAXNAM's, to ensure that they send or receive transactions only in connection with goods and services they are legally permitted to provide or receive under applicable law. It is also the Client's responsibility to enter bank account details correctly to avoid transaction errors and related charges.

8.1 Submitting a Payment Order

8.1.1 You must submit Payment Orders via email using our official form. You are responsible for the accuracy of all information provided.

8.1.2 The Client must verify that the information in the payment order is correct before submission. Errors such as an incorrect IBAN or account number may result in the payment not being executed, being executed incorrectly, or being returned to MAXNAM. We are not obligated to verify that the payee's name matches the account number provided.

8.1.3 Submitting a Payment Order constitutes your irrevocable authorization for us to execute it, provided sufficient funds are available. Once submitted, an order cannot be withdrawn.

8.1.4 If we fail to execute a correct order or execute it incorrectly, we will investigate the matter free of charge upon your request.

8.2 Limits

8.2.1 For AML and security reasons, MAXNAM may impose limits on the amounts that can be transferred to or from a Client Account or impose special requirements based on its own criteria. MAXNAM is not obliged to disclose those criteria.

8.2.2 The Client may request an increase or decrease in those limits by contacting MAXNAM by email. MAXNAM will consider such requests based on each Client's risk profile, and any adjustment may be permanent or temporary.

8.3 Execution of Payment Orders

8.3.1 The timeframe for executing a payment order begins on the day the Client submits and confirms it. If MAXNAM receives the payment order after 2 p.m. GMT on a Business Day, or on a non-business day, MAXNAM will process it on the following Business Day.

8.3.2 SEPA payments within the UK and EEA member states in EUR or GBP are typically executed within one (1) Business Day. SWIFT payments may take up to five (5) Business Days.

8.3.3 These timeframes may be extended due to checks by us, our Service Providers, the payee's institution, or technical issues. We are not liable for delays caused by third parties.

8.3.4 If the Client is the payee, MAXNAM will credit the funds to the Client's account on the date the payment is received.

8.3.5 If an incoming payment lacks one or more key identifiers, such as payee or account details, or if such information is unclear or inconsistent, MAXNAM will not credit the amount to the Client's account and will request clarification from the payer. If satisfactory clarification is not provided within ten (10) Business Days from the first request, MAXNAM will return the payment to the payer and deduct the applicable return and investigation fee from the amount repaid.

8.3.6 If an incoming transaction is deemed unacceptable or MAXNAM cannot credit the incoming funds because of AML concerns, MAXNAM will return the transaction amount to the sender within two (2) Business Days and may charge fees for returning the funds.

8.3.7 The Client acknowledges that funds received in the Client's account may be subject to reversal if they do not rightfully belong to the Client. MAXNAM may deduct the amount from the Client's account without prior instruction if the funds were reversed by the sender or a relevant payment service provider, or if the funds were transferred by fraud, mistake, or another circumstance lacking legal basis.

8.3.8 If the Client's account balance is insufficient to cover a reversal, the Client must unconditionally compensate MAXNAM for the difference upon request.

8.3.9 Before processing an incoming or outgoing transaction, MAXNAM may review transactions that appear to carry higher-than-average risk, including cases where restricted or prohibited activity is suspected. MAXNAM may also limit the source of funds for an incoming transaction to manage risk and will inform the Client of limitations before approving the transaction where appropriate.

8.3.10 MAXNAM may request documentation to verify the legal basis of a transaction, such as source of funds and purpose of the transaction, or other information related to the Client's activity. All required documentation must be prepared and submitted by the Client at their own expense and in the form requested by MAXNAM, including language, legalization, and apostille requirements where applicable.

8.3.11 For compliance or due diligence purposes, MAXNAM may require the Client to submit specific data in the form and manner requested and at the Client's own expense.

8.3.12 MAXNAM's requests may involve identity and security validation and verification checks, including the use of third-party verification systems, and the Client agrees to such checks as part of the due diligence process.

8.3.13 MAXNAM may refuse to execute incoming or outgoing transactions if the Client fails to provide requested documents on time, if the documents are false or illegitimate, if there are doubts about whether the payment order was submitted by the Client or an authorized representative, if MAXNAM identifies irregularities in the transaction, if the transaction violates these Terms, or if technical malfunctions, extraordinary market conditions, or unacceptable risk affect execution.

8.3.14 Payment execution is subject to the applicable Fees Schedule, including any currency conversion margins, depending on the type of payment and the type of account held by the Client.

8.4 Incoming Payments

8.4.1 We credit incoming payments to your account on the day we receive them, provided all required information is clear and correct.

8.4.2 If an incoming payment has missing or inconsistent information, we will seek clarification from the payer and may not credit it until the issue is resolved. If the issue is not resolved within ten (10) Business Days, we may return the payment and deduct a fee.

8.4.3 We may refuse to credit an incoming payment if it violates AML regulations. In such cases, we will return it within two (2) Business Days, and fees may apply.

8.4.4 We reserve the right to reverse funds credited to your account if they were sent by mistake, fraudulently, or are otherwise invalid. You agree to cooperate and repay any shortfall if your balance is insufficient.

8.5 Refusal of Transactions

8.5.1 We may refuse to execute a transaction if we suspect prohibited activity, if you fail to provide requested information, if the transaction violates these Terms, or if we are required to do so by law. We will notify you of the refusal and the reasons where legally permissible.

8.6 Returned Payments

8.6.1 If a payment is returned to MAXNAM for reasons beyond its control, the amount will be credited back to the Client's account within two (2) Business Days, but fees paid for executing the payment will not be refunded.

8.6.2 If a payment is returned due to an error by MAXNAM, the Client will be refunded the payment amount and all associated fees without delay.

8.7 Payment Cancellation

8.7.1 The Client may cancel a payment order before confirming it, but once the payment has been initiated it cannot be canceled.

8.7.2 If an incorrect payment order has been submitted, the Client may request MAXNAM to cancel it, but this is possible only if the payment has not yet been processed and remains subject to MAXNAM's discretion. Fees may apply for such corrections.

9. Unauthorized and Incorrect Payments

9.1 You must review your account statements and report unauthorized or incorrectly executed transactions within six (6) months of the transaction date. Failure to do so will be considered acceptance of the transaction.

9.2 If you report an unauthorized transaction, we will investigate it. We will refund the amount if our investigation confirms it was unauthorized, or provide justification if we deny the claim.

9.3 If you provide incorrect payment details, such as the wrong account number, the payment will be considered correctly executed based on those details. We are not liable for the loss. We may assist in attempting to recover the funds, but cannot guarantee success and may charge a fee for those efforts.

9.4 We may charge a fee for investigating transactions at your request, as outlined in the Fee Schedule.

9.5 If a payment is returned to us for reasons beyond our control, such as incorrect details provided by you, we will credit it back to your account but will not refund the execution fee. If the return is due to our error, we will refund both the amount and the fee.

10. Currency Conversion

We do not provide currency conversion services. All transactions must be funded and paid out in the same currency.

11. Suspension and Restriction of Services

11.1 MAXNAM may, at its sole discretion and without prior notice, apply one or more measures to protect itself, third parties, and the Client from sanctions, losses, and other adverse consequences.

• Decline the Client's Application for any Service.
• Suspend, reverse, or withhold any transaction or payment.
• Fully or partially block, suspend, or prohibit the provision of Services to the Client.
• Restrict the Client's access to the profile, account, and associated funds.
• Detain Client funds that are subject to dispute.
• Return frozen funds from the Client's account to the original sender.
• Terminate the Services.

11.1 Grounds for Restriction

11.2 MAXNAM may apply those measures in exceptional cases, including a request from the Client, reasonable concerns regarding the security of the Client profile, authentication data, OTP, device, or account, suspected fraud, money laundering, terrorism financing, sanctions violations, or other criminal or illegal activity, suspicion that funds were obtained illegally, or suspicion that Services are being used for restricted or prohibited activities.

11.2 Additional grounds include false information provided during onboarding or the business relationship, justified reasons to believe the Client is in breach of applicable law or regulation, a direction from a court or government authority, prosecution or conviction for financial or economic crime, risk grouping outside MAXNAM's risk appetite, changes to or termination of third-party Service Providers, failure to provide requested documents, actions that cause or may cause damage to MAXNAM or third parties, non-payment of outstanding fees, prolonged inactivity, bankruptcy or winding-up proceedings, the Client's death, and other cases stated in these Terms.

11.2 Notices, Duration, and Dormancy

11.3 MAXNAM will promptly notify the Client via the registered email about any intention to limit the Services and the reasons for such action. If prior notice is not possible, MAXNAM will notify the Client immediately after the blocking unless doing so would jeopardize the safety of funds, weaken security measures, or be prohibited by law.

11.4 If MAXNAM blocks the Client's profile or Client Account at the Client's request, MAXNAM will cancel the block only after receiving a written request from the Client and completing necessary identification procedures.

11.5 Suspension of Services continues until the reasons for suspension no longer exist.

11.6 Suspension or restriction of Services does not exempt the Client from obligations to MAXNAM that arose before the restriction.

11.7 MAXNAM is not liable for losses incurred by the Client due to limitation measures if MAXNAM acted in compliance with applicable legislation and the circumstances specified in these Terms.

11.8 If the Client Account has been inactive for the last six (6) months, it will be classified as dormant, and dormant accounts will be charged fees according to the applicable Fees Schedule.

12.1 Termination by the Client

12.1.1 You may close your account at any time by providing ten (10) Business Days' written notice by email.

12.1.2 Before terminating the relationship and closing the Client Account, the Client must pay any outstanding fees, including transaction fees, service fees, or any other fees specified in the Fee Schedule. If the balance is insufficient to cover those costs, the Client must transfer the remaining difference to the Client Account.

12.1.3 When closing the Client Account, the Client must transfer any positive balance remaining in the Client Account to another credit institution, financial institution, or payment service provider of the Client's choice.

12.1.4 The Client remains liable for liabilities arising from the use of the Client Account while it was active, even after closure.

12.1.5 The Client Account cannot be closed while it is under investigation for fraud, money laundering, terrorism financing, sanctions violations, or other criminal or illegal activity. MAXNAM may hold the balance in the Client Account during the investigation to protect itself and third parties against potential liabilities.

12.1.6 The Client may request account statements before closure. If the Client does not do so, MAXNAM will treat that as a decision not to receive the documentation. MAXNAM may also delay or refuse closure if the account is under investigation for suspected illegal activity.

12.2 Termination by MAXNAM

12.2.1 We may terminate this agreement and close your account by providing at least one (1) month's notice, unless exceptional circumstances, such as suspicion of illegal activity, require immediate action.

12.2.2 Upon termination, we may deduct all outstanding fees and costs from your balance. You must pay any remaining difference within five (5) Business Days.

12.2.3 Together with the termination notice or at any time thereafter, MAXNAM may provide reasonable instructions on how to withdraw remaining funds, except for MAXNAM fees and other obligatory payments, unless MAXNAM is prohibited from performing the transfer due to legal requirements.

12.2.4 Termination of the relationship and closure of the Client Account do not relieve either party of financial commitments or affect legal rights and responsibilities that arose under these Terms before or at the time of termination.

12.3 Post-Closure

12.3.1 If a balance remains after closure, you may request its transfer to an external account in your name for up to three (3) years. After that, MAXNAM may handle the funds in accordance with applicable unclaimed property laws.

12.3.2 Closing the Client Account does not mean that MAXNAM deletes the personal data it holds about the Client. MAXNAM will continue to store such data, including the Client's transaction history, for a minimum of five (5) years, as required by law.

13. Fees and Charges

13.1 The Fee Schedule forms part of these Terms and is provided to the Client before the relationship is established and the Client Account is opened. The Client acknowledges that they must read and accept the fees before using the Services.

13.2 For non-standard services not listed in the Fee Schedule, MAXNAM may agree individual fees with the Client and will provide the necessary information for confirmation.

13.3 We may change the Fee Schedule at MAXNAM's sole discretion. MAXNAM will notify the Client of any changes, and the Client has the right to terminate the relationship without penalty before those changes take effect.

13.4 You must ensure that sufficient funds are available for fees. We will deduct fees from your account balance as they become due.

13.5 If you owe fees and your balance is negative, we may suspend your account, deduct fees from future incoming payments, exercise a right of set-off, or take other legal action to recover the debt. The Client is also responsible for taxes or costs applicable to transactions where MAXNAM is not responsible for collection.

13.6 The Client cannot borrow funds from MAXNAM. If the Client Account balance becomes negative, the Client must top up the account to remedy that balance.

13.7 If the Client owes MAXNAM service fees and does not top up the account, MAXNAM may suspend the Client Account, deduct funds from the Client Account once it has funds, including by installments, exercise a right of set-off, or take other legal steps to recover the money.

13.8 If MAXNAM exercises any of those rights, the Client may be required to pay the associated costs incurred by MAXNAM.

13.9 Fees payable by the Client will be deducted from the Client Account balance, and the Client authorizes MAXNAM to do so. Transaction fees will be charged when the transaction is executed. If the Client Account balance is insufficient to cover the fees, MAXNAM may refuse to execute the transaction.

13.10 If the Client does not have sufficient funds in the relevant Client Account to cover the fees and does not immediately upload sufficient funds, MAXNAM may deduct the required amount from any of the Client's accounts.

14. Complaints Handling

14.1 Complaints must be submitted in writing by email to support@maxnam.com and should include details of the issue, relevant dates, transaction numbers, and all other information necessary to describe the nature of the complaint.

14.2 We will investigate and respond within fifteen (15) Business Days. If the complaint is complex and requires additional investigation time, MAXNAM will notify the Client accordingly.

15. Confidentiality and Data Protection

15.1 We will both keep confidential information received from the other party confidential, except as required by law or with the other party's consent.

15.2 The Client agrees that we may share information with our Service Providers as necessary to provide the Services.

15.3 The obligation of confidentiality does not apply to information that is public and freely available, disclosed to a third party with the Client's prior consent, lawfully possessed by the receiving party before disclosure, or disclosed in compliance with a lawful order of a court, governmental authority, or regulatory authority.

15.4 Our collection, use, and disclosure of Personal Information are governed by our Privacy Policy, which is based on PIPEDA. By accepting these Terms, you consent to that processing.

15.5 You agree to receive occasional email newsletters from us. You may opt out at any time by contacting Customer Support or using the unsubscribe link in the email.

16. Limitation of Liability

16.1 Each party is liable for documented fines, penalties, and other direct losses caused by its material breach of these Terms, to the extent that those losses were reasonably foreseeable.

16.2 You are liable for ensuring your compliance with these Terms, the accuracy of your information, and all consequences of your account activity.

16.3 We are liable for properly executing your valid Payment Orders and for direct damages caused by our fraud, gross negligence, or wilful default.

16.4 We are not liable for losses caused by errors or inaccuracies in your Payment Orders, the quality or legality of goods or services you buy or sell, disputes between you and other parties, actions by third parties using fraudulently obtained data, our compliance with legal or regulatory obligations, or technical failures, internet issues, and events beyond our reasonable control.

16.5 We are not responsible for determining or paying taxes applicable to your transactions.

16.6 You agree to indemnify and hold us harmless from claims, losses, or expenses, including legal fees, arising from your breach of these Terms or applicable laws.

16.7 Nothing in these Terms limits our liability for fraud, gross negligence, or death or personal injury caused by our negligence.

17. Amendments to These Terms

17.1 We may amend these Terms from time to time. We will provide at least two (2) months' written notice of material changes by publishing them on our Website or sending them to your registered email.

17.2 If you disagree with the amendments, you may close your account without penalty before they take effect. Continued use of the Services after the effective date will be deemed acceptance of the changes.

17.3 Shorter notice may apply if required by law, for non-material changes such as clarifications or stylistic corrections, or for changes that are beneficial to you, such as fee reductions or new features.

17.4 MAXNAM may also be unable to provide two (2) months' notice if the changes are required by mandatory law, are non-essential stylistic or structural adjustments, are required for reasons beyond MAXNAM's control, do not adversely affect the Client's obligations, reduce fees, introduce more favorable terms, launch a new optional service, add extra functionality, or implement technical adjustments to address a security threat.

17.5 The Client undertakes to review the legal sections of MAXNAM's Website regularly and periodically check the registered email where relevant information may be published.

17.6 MAXNAM is committed to informing the Client about known and potential technical failures of MAXNAM's systems, or of third-party systems involved in providing MAXNAM Services, that could affect the stability and availability of Services.

17.7 The Client does not have the right to unilaterally amend the Terms and Services; however, the Client and MAXNAM may agree on additional conditions through a separate written agreement.

17.8 The new version of the Terms replaces the existing Terms unless otherwise agreed.

18. Governing Law and Dispute Resolution

18.1 These Terms and any dispute or claim arising out of or in connection with them are governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to conflict of law principles.

18.2 We encourage you to contact us first to resolve any dispute informally. If a dispute cannot be resolved through negotiation within thirty (30) Business Days, the Parties agree to submit to the exclusive jurisdiction of the courts of Ontario, Canada.

18.3 Documents and communications authenticated using your Login Credentials have the same legal effect as a signed document and may be used as evidence in any dispute.

19. Communication

19.1 We will communicate with you in English, primarily by email, but also by phone, SMS, registered address, popular messaging apps, or notices on our Website.

19.2 The Client confirms acceptance of these communication methods and acknowledges that notices sent by any of those methods are deemed appropriately given. The Client agrees to provide accurate contact details, including email address, telephone number, and physical address.

19.3 Email notices are deemed received on the same day if delivered before 3 p.m. GMT on a Business Day, or on the next Business Day if delivered later or on a non-business day. Postal notices are deemed received within five (5) Business Days for domestic mail in Canada and within seven (7) Business Days for international mail. SMS notices are deemed received on the same day.

19.4 The Client should contact MAXNAM through the support emails provided for urgent matters such as compromised or unauthorized accounts, unlawful use of Services, or security threats.

19.5 Electronic messages from the Client, such as requests, complaints, or claims, are deemed received on the day of submission if sent by 3 p.m. GMT, and on the next Business Day if sent later. Other notices are deemed received according to the timeframes specified in MAXNAM's notifications.

19.6 Because MAXNAM relies on the contact details previously provided by the Client, the Client must immediately inform MAXNAM of changes to telephone number, email address, or registered address. The Client bears all consequences arising from a failure to provide that update.

19.7 Only communications sent to and from our official email addresses ending in @maxnam.com or through official phone numbers will be considered legally binding on us. You use any other form of communication at your own risk.

19.8 Where legislation requires MAXNAM to provide information on a durable medium, MAXNAM will send an email, with or without attachments, so the Client can retain the information in print or another permanent format for future reference. The Client is responsible for keeping copies of all communications sent or made available by MAXNAM.

20. Force Majeure

20.1 Neither party is liable for failure to perform its obligations under these Terms if the failure is caused by an event or circumstance beyond its reasonable control, including acts of God, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, strikes, or failures of internet or telecommunications infrastructure.

20.2 The affected party must notify the other party in writing within ten (10) Business Days of the force majeure event. If the event continues for more than thirty (30) Business Days, either party may terminate the agreement.

21. General Provisions

21.1 Each party represents that it has the authority to enter into and perform its obligations under these Terms.

21.2 You may not assign your rights or obligations under these Terms without our prior written consent. We may assign our rights and obligations to a third party without your consent, provided this does not materially reduce your rights.

21.3 Each party agrees to comply with all applicable anti-bribery and anti-corruption laws.

21.4 The Parties are independent contractors. These Terms do not create a partnership, joint venture, or agency relationship.

21.5 If any part of these Terms is found to be invalid or unenforceable, the remainder will continue in full force and effect.

21.6 Our failure to enforce any right under these Terms is not a waiver of that right.

Last updated: March 20, 2026. (c) 2026 MAXNAM SOLUTIONS LTD. All rights reserved.