Location:  Home > User Agreement

User Agreement

  • 1.  Introduction

    1.1. These Terms and Conditions, including the Service Specific Terms applicable to a service (this “Agreement”), constitute a legal agreement between you (the “User”, or “ you ”, or in the possessive form “your”) and Skyee Pte Ltd (“Skyee”, “we”, “us”, or in the possessive form “our”). By accessing and using our Services (as defined below), you agree that you have read, understood, accepted, and agreed with this Agreement. If you do not agree with this Agreement, please do not continue to access or use our Services.

    1.2. Subject to this Agreement, Skyee will provide the following services to Users: -

    1.2.1. a digital account for Users to initiate a payment order and/or to execute a payment transaction (“Skyee Account”);

    1.2.2. a virtual and/or physical card, reloadable with monies, for the payment of goods and services (“Skyee Card”);

    1.2.3. a collection facility to receive domestic and cross-border payments (“Inbound Payment Service”);

    1.2.4. a payment facility to make domestic and cross-border payments (“Outbound Payment Service”); and

    1.2.5. a currency exchange service to exchange one currency to another currency (“Currency Exchange Service”); and

    1.2.6. a payment processing service to merchants (“Merchant Acquisition Service”),

    Each, a “Service” and collectively, the “Services ”.

    1.3. This Agreement shall commence on the day that Skyee confirms to you that your Skyee Account has been approved and shall continue until terminated in accordance with clause 17 (Termination).

    1.4. This Agreement may be translated to other languages. In the event of any conflict or inconsistency between a translated version of this Agreement and the English version, the English version will prevail.

    1.5. Certain clauses only apply to specific services (“Service Specific Terms”) and for Business Entities only. The Service Specific Terms for our Inbound Payment Service, Outbound Payment Service, and Currency Exchange Service are as provided in Schedules A, B, and C respectively.
    One or more companies within our corporate group (each a “Contractual Entity”) may provide one or more of the Services to you. By accessing and using our Services, you, and the Contractual Entity (or Contractual Entities) enter into this Agreement.

    1.6. If you register for or use multiple Services, you enter into an agreement for each Service. By way of example, if you register for or use our Inbound Payment Service and Currency Exchange Service, you enter into an agreement with the Contractual Entity (or Contractual Entities) that provides the Inbound Payment Service to you, and you enter into another agreement with the Contractual Entity that provides the Currency Exchange Service to you.

    The following table lists the Services, the Contractual Entities engaged in providing the Services, and the Service Specific Terms that apply to the Services.

    Service Contractual Entities Service
    Contractual Entities
    Skyee Hongkong Company Ltd.
    and
    Skyee Pte. Ltd.
    or
    Global M2C Company Ltd.
    and
    Skyee Pte. Ltd.
    or
    Skyee Japan Company Ltd.
    and
    Skyee Pte. Ltd.
    or
    Skyee Canada Payments Ltd.
    and
    Skyee Pte. Ltd.
    or
    Skyee Pte. Ltd.
    		Schedule A
    Currency Exchange Service Skyee Pte Ltd. Schedule B
    Outbound Payment Service Skyee Pte Ltd. Schedule C

  • 2.   Issuance of a Skyee Account

    2.1. Our Services are intended to facilitate payments arising from the ordinary course of business for Business Entities and personal payments (transfers to and from bank accounts in your name) and school payments for Students.

    2.2. In order to use any of our Services, you must first register a Skyee Account. Your Skyee Account enables you to access our Services, such as to initiate payment orders and/or to execute payment transactions, and information such as information regarding inbound and outbound payments, account balances, fees, and settlement of funds to your Beneficiary Account (defined below).

    2.3. Only an entity or business incorporated or registered in Singapore or in jurisdictions not included in Skyee’s List of Prohibited Countries and is not dormant, de-registered, in liquidation, or struck-off (a “Business Entity”), or a natural person of at least 18 years of age and who has been accepted by an educational institution to pursue full-time study in Singapore, or a Singapore citizen of at least 18 years of age and who has been accepted by an educational institution to pursue full-time study outside of Singapore (a “Student”), is eligible to apply for a Skyee Account.

    2.4. Eligibility. To be eligible to (i) register for a Skyee Account or (ii) to use our Services, you must, at the time of registration and at all times thereafter, meet the following requirements: -

    2.4.1. Individual. If you are registering for a Skyee Account on behalf of a Business Entity (“Representative”), or in your personal capacity as a Student, you must be 18 years or older and have legal capacity to enter into contract with us.

    2.4.2. Business Entity. If a Business Entity is registering for a Skyee Account, you must have legal capacity to enter into contract with us and your Representative must satisfy the requirements set out in clause 2.4.1 above and be authorized under your formation documents and/or the laws of the jurisdiction where you are organized, or otherwise authorized by you, to provide the information described in clause 2.5.2 on your behalf and bind you to this Agreement.

    2.4.3. By accessing and/or using the Services, you are representing and warranting to Skyee that you are eligible to use the Services.

    2.5. In order to access and/or use the Services, you must first register an account with Skyee which will require you to provide us with data relating to you, including but not limited to: -

    2.5.1. For a natural person: -

    (a) Your full name, including any aliases;

    (b) Your unique identification number (such as an identity card number, birth certificate number or passport number);

    (c) Your residential address;

    (d) Date of birth;

    (e) Nationality;

    (f) Contact details, including an email address and telephone number at which you can be contacted at; and

    (g) Other information as may be required to allow Skyee to comply with its anti-laundering and countering the financing of terrorism obligations under the applicable laws (“AML/CFT laws”).

    2.5.2. Business: -

    (a) Your full name, including any former name(s);

    (b) Your unique identification number (such as the incorporation number or business registration number);

    (c) Your registered or business address (if these are different addresses, the principal place of business);

    (d) Date of establishment, incorporation or registration;

    (e) Place of incorporation or place of registration;

    (f) the identity of the beneficial owner of your business entity (if any); your business, including, but not limited to your products and services, business relationships (e.g., counterparties), and the business transaction underlying the transfer of funds or currency exchange;

    (g) Contact details, including an email address and telephone number at which you can be contacted at; and

    (h) Other information as may be required to allow Skyee to comply with AML/CFT laws.

    2.5.3. For a Student, in addition to the information required to be provided to us under clause 2.5.1 above, please provide us with:

    a. Name of educational institution;

    b. Student Number;

    c. Country of study;

    d. Start date with the educational institution;

    e. Expected end date with the educational institution; and

    f. Student visa number or equivalent.;

    2.5.4. You will be required to submit documentation proof on the details provided in clause(s) 2.5.1 and 2.5.2, and/or 2.5.3.

    2.6. You are solely responsible for ensuring that any data, documents or other information, whether electronic or otherwise, that you submit to Skyee, Skyee’s corporate affiliates (“Affiliates”), or any of our third-party service providers: - (a) Is accurate, true and complete in any respect at all times;

    (a) Is accurate, true and complete in any respect at all times;

    (b) Where applicable, is provided within reasonable time;

    (c) Is not false, misleading or deceptive in any respect at all times; and

    (d) Does not omit anything that affects or is likely to affect the meaning of significance of such data, document or other information in any respect at all times.

    2.7. You agree to cooperate with all requests made by us, our Affiliates, or any of our thirdparty service providers in relation to your Skyee account to verify or authenticate your identity or validate your funding sources or transactions through our Services.

    2.8. Skyee reserves the right to close, suspend, or limit access to our Services if we are unable to obtain, verify the information requested in clause 2.5.

    2.9. You must not open a Skyee account, or otherwise access and/or use the Services unless you consent to the collection, use and disclosure of data by Skyee as set out in its Personal Data Protection Policy (the “Privacy Policy”). Please refer to clause 8 below and the Privacy Policy.

    2.10. We may use third party databases and services to assist us in reviewing your application and you agree that we are authorized to share the information and/or documentation you provided with such third parties for identity verification and name and sanctions screening purposes.

    2.11. Your application is subject to our approval. We reserve the right to approve or to deny your application for a Skyee Account at our sole discretion and for any reason, including but not limited to failure to provide requested information and/or documentation or for reasons related to legal compliance or internal risk management decisions. We will inform you of our decision with respect to your application in writing.

    2.12. You must not use the Services to transact on behalf of any other person or business entity, except in cases where you have obtained our written approval. To request approval to use our services to transact on behalf of another person or business entity, you must: -

    (a) provide us with written authorization from the person or business entity on whose behalf you are acting; and

    (b) provide us with information and/or documentation, as requested by us, regarding the identity of such person or business entity for compliance purposes.

    2.13. By accessing and/or using the Services, you expressly acknowledge and represent that you have carefully read, understood, and accepted this Agreement in its entirety as a legally binding agreement between yourself and Skyee. You should immediately stop accessing and/or using the Services if you do not accept this Agreement.

    2.14. Upon approval of your application, we will activate your Skyee Account, which will enable you to access our services on our proprietary online platform using your login credentials, i.e., your username and password. You are responsible for keeping your login credentials safe. You should not disclose your login credential to any unauthorized persons. If you authorize any person to access or use your Skyee Account, you will be responsible for any transaction conducted by such person.

  • 3.  Skyee Account and Skyee Card

    3.1. You are able to store multiple currencies in your Skyee Account. These currencies are subject to change from time to time.

    3.2. When Skyee holds money for you, it is not the same as a bank holding money for you in that:-

    (a) We cannot and will not use the monies to invest or lend to other persons or entities;

    (b) Your money is held for purposes of future payments to be made by you and is not a deposit;

    (c) Your money will not accrue interest; and

    (d) Your money is not covered by the Deposit Insurance Scheme of Singapore. The monies will be held in one or more segregated bank accounts separately from our own funds.

    3.3. As required by the Payment Services Act 2019, we safeguard the Users’ monies in trust account held with our Safeguarding Institution, [DBS Bank Ltd.]. Your money is commingled with other customers’ monies. A trust account means that your money in such an account cannot be claimed by creditors in the event of the insolvency of Skyee.

    3.4. The following restrictions apply to a personal Skyee Account (“Personal Skyee Account”), being a payment account used as a means of executing payment transactions other than in the course of business:

    3.4.1. Each Personal Skyee Account has a maximum stored value of S$5,000.00 or its foreign currency equivalent.

    3.4.2. In any period of one year, the total currency equivalent of monies transferred from a Personal Skyee Account cannot exceed S$30,000, except in the following cases:

    (a) Domestic transfers to a personal deposit account held in your own name;

    (b) Domestic transfers to another person’s personal deposit account; and;

    (c) Cross-border transfers to a personal deposit account held in your own name.

    Notice for non-Singapore residents.

    Skyee is licensed by the Monetary Authority of Singapore to provide e-money issuance services. Please note that this does not mean you will be able to recover all the money you paid to Skyee if Skyee’s business fails.

    3.5. Once your application for a Skyee Account has been approved, you may opt for a Skyee Card issued by a Service Provider (defined below) or a third-party. The Skyee Card will be issued in the Skyee Account holder’s name and is non-transferable.

  • 4.  Affiliates and Service Providers

    4.1. To provide services to you, Skyee relies on the services of (i) its Affiliates and (ii) on financial institutions, including banks, payment service providers, clearing networks, and other intermediary financial institutions (“Service Providers”). You acknowledge and agree that the Affiliates and Service Providers may be engaged in providing services to you.

    4.2. Guangzhou Gao Fu Information Technology Co. Ltd. (“Gao Fu”) provides operations support to Skyee. Gao Fu provides Skyee with, among other things, support in marketing, IT, administration, and customer service. Even though this Agreement is between you and Skyee, you acknowledge and agree to any Service provided to you by Gao Fu as Skyee’s delegate.

    4.3. You acknowledge and agree that Service Providers facilitate the provision of Services to you. No agreement exists between the Service Providers and you with respect to the Services. You agree to avoid any direct communication with Skyee’s Service Providers regarding the Services. Any direct contact with a Service Provider regarding the Services may result in immediate termination of your access to the Services.

  • 5.  Bank Accounts

    5.1. To support its services, Skyee has established accounts at licensed financial institutions for the purpose of receiving, holding, and transferring funds on behalf of its customers (“Bank Accounts”). Skyee is the named holder of the Bank Accounts. Skyee holds its customers’ fund together in its Bank Accounts. Skyee will account to each customer the amount of funds held by Skyee on the customer’s behalf.

  • 6.  Settlement to Beneficiary Account

    6.1. Beneficiary Account.

    6.1.1. The “Beneficiary Account” is a bank account that you have designated to receive funds from Skyee.

    6.1.2. To bind a Beneficiary Account to your Skyee Account, you must submit the requested Beneficiary Account information to Skyee. You must ensure that the Beneficiary Account information that you submit is correct and complete.

    6.1.3. If the Beneficiary Account information is incorrect or incomplete, funds transmitted using such information may be rejected or misdirected. If your funds are rejected due to incorrect or incomplete Beneficiary Account information and need to be resent, you may incur additional financial services charges. Such additional financial services charges will be taken from your funds prior to the transfer of the funds to the Beneficiary Account.

    6.1.4. If your funds are misdirected due to incorrect or incomplete Beneficiary Account information, we will take commercially reasonable measures to help you recover the funds. However, you are solely responsible for any funds that cannot be recovered.

    6.1.4. If your funds are misdirected due to incorrect or incomplete Beneficiary Account information, we will take commercially reasonable measures to help you recover the funds. However, you are solely responsible for any funds that cannot be recovered.

    6.1.5. The Beneficiary Account must also be in good standing and able to receive funds. If the Beneficiary Account is not in good standing, fund transfers by Skyee to the Beneficiary Account may be rejected

    6.1.6. The binding of the Beneficiary Account is subject to review and approval by Skyee. We have the right to deny your request to bind the Beneficiary Account to your Skyee Account for legal compliance and risk management reasons. We also have the right to revoke any previously approved binding of the Beneficiary Account.

    6.2. Settlement Order

    6.2.1. To transfer available funds in your Skyee Account to the Beneficiary Account, you must submit a settlement order through your Skyee Account.

    6.2.2. Upon receipt of the settlement order, Skyee will initiate a transfer of funds in the amount and currency you specified, less any applicable fees, to the Beneficiary Account. You are solely responsible for the payment of any fees charged by the bank of the Beneficiary Account.

    6.2.3. Once Skyee accepts your settlement order, the settlement order cannot be revoked by you. Unless the funds were transferred to the Beneficiary Account in error, you are not permitted to refund the funds back to Skyee.

    yee has the right to refuse to accept the settlement order and/or to stop the execution of any previously accepted settlement order. We may exercise such right: - (a) if

    (a) if we find that the balance in your Skyee Account is insufficient to cover the settlement order;

    (b) if we find that the Beneficiary Account is not in good standing or if the Beneficiary Account information is incorrect or incomplete; or

    (c) for legal compliance and risk management reasons. Subject to our obligations under applicable AML/CFT laws and other applicable laws and regulations, we will use commercially reasonable efforts to resolve issues with the settlement of funds to your Beneficiary Account.

    6.3. Settlement

    6.3.1. Skyee will settle funds to the Beneficiary Account pursuant to the accepted settlement order. You authorize Skyee to use the services of its Affiliates and Service Providers to facilitate the settlement of the funds. To improve your liquidity, Skyee may permit the settlement of funds, which have been received by Skyee on your behalf but not yet credited to your Skyee Account or to the Beneficiary Account. Once the aforementioned funds have been credited to the Skyee Account, you authorize Skyee or its Affiliates to apply such funds to the repayment of any funds advanced to you in the settlement process.

  • 7.  Service Fee and Right to Set-Off

    7.1. In consideration for Skyee’s services, you agree to pay fees for services received (“Service Fee”). Our Service Fee schedule is published on our website and also available through your Skyee Account.

    7.2. In the event that we adjust the Service Fee schedule (including introducing new fees), we will update the Service Fee schedule and notify you via email or through your Skyee Account. You are deemed to have received the notice after we have sent the notice to the email address associated with your Skyee Account or made the notice available through your Skyee Account. Your continued use of our services indicates that you accept the fees in the updated Service Fee schedule.

    7.3. From time to time, we may offer promotional rates to select qualified customers, in which case the applicable Service Fee will be based on separate written agreement between Skyee and you.

    7.4. Skyee has the right to charge the Service Fee prior to or after delivering service to you. You authorize Skyee to collect payment of the Service Fee due by deducting it from funds received, transferred, or exchanged or by deducting it from your Skyee Account.

    7.5. Information regarding the services provided and the Service Fee charged are available on you Skyee Account. If you have any questions, you should contact our customer support.

    7.6. Skyee and its Affiliates have the right to set off any amount owed by you to Skyee from any funds due to you, including but not limited to any fees payable under this Agreement. You authorize Skyee to exercise this right by deducting funds from your Skyee Account.

  • 8.  Data Protection

    8.1. Skyee will only use your data as permitted by this Agreement, our Privacy Policy, agreements entered between you and Skyee, or as otherwise directed or authorised by you. Skyee will protect all data received through the provision of its Services and will not disclose or distribute any such data unless required by relevant authorities and/or to ensure compliance with applicable laws and regulations.

    8.2. Protection of personal data is important to Skyee. Our Privacy Policy explains how and for what purposes we collect, use, retain, disclose, and safeguard the data you provide to Skyee. By continuing to access and/or use the Services, you agree to the terms of our Privacy Policy, which we update from time to time. You confirm that you are, and will continue to be, compliant with all applicable laws governing the privacy, protection, and your use of data that you provide to us or access through your use of the Services.

    8.3. This clause supplements our Privacy Policy. In the event of conflict between this clause and the Privacy Policy, this clause prevails.

    8.4. Our Affiliates and Service Providers require certain identity, business, and financial information about you for the provision of services to you. Our Affiliates and Service Providers are subject to AML/CFT Laws and other laws and regulations of the jurisdictions where they conduct business. As such, they require your information for compliance purposes and to respond to requests by government authorities. Government authorities may also require us to share your information for regulatory, investigative, and other legal purposes.

    8.5. In the event that Skyee, its Affiliates, and/or its Service Providers store, transfer or otherwise process Personal Data outside of Singapore, Skyee shall take steps to ensure that the Personal Data continues to receive a standard of protection which is at least comparable to the standards provided under the Personal Data Protection Act 2012.

    8.6. You agree and accept that in the event your Skyee Account has been terminated in accordance with clause 19.4 (Amendments) and clause 17 (Termination), Skyee will store personal data about you and your transactions executed by your Skyee Account for a period of 5 years.

    8.7. You acknowledge and consent to share your information, including but not limited to Compliance Information, with Skyee’s Affiliates, Service Providers and relevant government authorities. Furthermore, Skyee is authorized to provide a copy of this Agreement and information about your identity and the business transaction underlying the payment of funds to any payer or payee that request such information.

  • 9.  Intellectual property

    9.1. Skyee reserves and retains all right (including copyrights, trademarks, patents as well as any other intellectual property right) in relation to the products, services and all content and data contained in or provided on or via the electronic platform at (https://sg.skyee360.com/) that is owned and operated by Skyee (including all texts, graphics, and logos).

  • 10.  Legal Compliance and Restricted Use

    10.1. Anti-Money Laundering and Counter Terrorist Financing. To comply with such AML/CFT laws, Skyee has implemented policies and procedures to combat money laundering and terrorist financing.

    10.2. Skyee reserves the right to obtain information or documentation from you on the background and purpose of the transaction. Skyee further reserves the right to obtain information about you from e-commerce marketplaces, payment companies through which you conduct business, and third-party data bases. You agree to authorize Skyee to access the aforementioned e-commerce platforms, payment companies, and third-party data bases to obtain such information.

    10.3. If Skyee believes that providing services to you would risk the violation of AML/CFT laws or suspicious of unauthorised use or fraudulent or illegal use, Skyee has the right, at its sole discretion, to: -

    (a) terminate this Agreement;

    (b) terminate or suspend your access to your Skyee Account;

    (c) stop or suspend the execution of any transaction; or

    (d) restrict or deny services to you.

    10.4. Restricted Use. In connection with your use of the Services, you must NOT: -

    (a) violate any AML/CFT laws;

    (b) send or receive funds that potentially involve money laundering, terrorist financing, or other illegal activities;

    (c) send or receive fund to/from to persons or entities in jurisdictions set forth in the Prohibited Country List, as amended from time to time, and incorporated by reference into this Agreement (The Prohibited Country List is published on Skyee’s website. Skyee has the right to amend the list at its sole discretion.);

    (d) violate any other laws of the jurisdictions where you conduct business or engage in unlawful activity, including but not limited to (i) infringing on intellectual property rights; or (ii) selling or buying counterfeit goods;

    (e) engage in the transaction of goods or services set forth in the Prohibited Products and Services List, as amended from time to time, and incorporated by reference into this Agreement (The Prohibited Products and Services List is published on Skyee’s website. Skyee has the right to amend the list at its sole discretion.);

    (f) breach this Agreement and any other agreements that apply to you;

    (g) provide false, inaccurate, or misleading information to us; and

    (h) refuse to cooperate with us in any investigation or refuse provide information to us regarding your identity and your business.

    10.5. If Skyee believes that you have engaged in any restricted use of the Services as stated in clause 10.4 above, then Skyee has the right, at its sole discretion, to: -

    (a) terminate this Agreement;

    (b) terminate or suspend your access to your Skyee Account;

    (c) stop or suspend the execution of any transaction;

    (d) restrict or deny services to you; and/or

    (e) report you to the relevant government authorities and/or freeze part or all your monies in your Skyee Account, pending further instructions from government authorities.

    10.6. Skyee reserves the right to treat two or more transactions suspected to be related, linked, or the result of a deliberate restructuring of an otherwise single transaction into smaller transactions to evade AML/CFT laws, as a single transaction and aggregate their values for the purpose of compliance with AML/CFT laws.

    10.7. Court Order or Regulatory Action. Skyee may be required to withhold, freeze, or release to another person or entity some or all of the money in your Skyee Account pursuant to notice of a court order, regulatory action or equivalent government process. To the extent permitted by law, we will notify you of these actions. Skyee has the right to decide on the action to take in response to such notice. Skyee is not obligated to contest or appeal such court order or regulatory action.

  • 11.  Tax Reporting and Payments

    11.1. You are solely responsible for the reporting and payment to relevant government authorities of all applicable taxes and fees that arise from the underlying commercial transaction in connection with the funds received or sent by Skyee on your behalf. Skyee, its Affiliates, and their Service Providers are not responsible for the reporting or the payment of such taxes and fees.

    11.2. If Skyee, its Affiliates, or their Service Providers are required by government authorities to freeze your funds, withhold taxes or fees from your funds, or make any tax or fee payments for you, you authorize each of them to comply with such request and make payment of any taxes or fees using funds held on your behalf.

  • 12.   Customer’s Representations and Obligations

    12.1. Representations

    12.1.1. You state that you meet the eligibility requirement set forth in Clause 2.4 above.

    12.1.2. You state that your use of Skyee’s Services will be in strict accordance with this Agreement and in compliance with all applicable laws and regulations in the jurisdiction where you operate or reside, including without limitation any laws or regulations regarding online conduct, acceptable content, and the transmission of data from the United States, E.U, Japan, China (including Hong Kong) or any other country in which you conduct business or reside.

    12.1.3. You state that your use of Skyee’s Services does not breach any agreement between you and any other person or entity, including any agreement between you and the payer or payee.

    12.1.4. You state that your use of Skyee’s Services will not infringe or misappropriate the intellectual property rights of any other person or entity.

    12.2. Obligations

    12.2.1. You are obliged to ensure that the representations in this clause remain true not only at the time they were made, but at all times during the term of this Agreement.

    12.2.2. You are obliged to promptly notify Skyee in writing no more than five working days after any of the following occur:

    (a) Voluntary or involuntary bankruptcy or insolvency petition or proceeding, or similar action;

    (b) Any change(s) in your information and documentation required under clause(s) 2.5.1, 2.5.2, 2.5.3., and/or 2.5.4.

    (c) Any change to your Beneficiary Account; and

    (d) Any other information that may affect Skyee’s delivery of services to you.

    12.3. For clarity, the representations and obligations listed in this Clause are not exhaustive. You are subject to all your representations and obligations in this Agreement whether or not they are specified in this clause.

  • 13.   Warranties

    Skyee’s Services are provided on an “as is” basis. Skyee, its Affiliates and its Service Providers hereby disclaim all warranties of any kind, express or implied, including, without limitation, the warranties of merchantability, fitness for a particular purpose and noninfringement. Skyee, its affiliates, and its Service Providers do not make any warranty that our Services will be error free or that access thereto will be continuous or uninterrupted. You understand that you use our services at your own discretion and risk.

  • 14.  Limitation of our Role

    14.1. With respect to our Inbound Payment Service and Outbound Payment Service, we serve as your agent to receive, hold, and transfer funds. With respect to our Currency Exchange Service, we serve as a service provider to you.

    14.2. Except for our limited roles in the facilitating of payment or currency exchange pursuant to the terms of this Agreement, Skyee is not involved in underlying transaction between you and the payer or payee. We are not a party to the underlying contract between you and the payer or payee.

    14.3. You affirm that you are solely responsible for the nature and quality of the products or services you provide, and for delivery, support, refunds, returns, and for any other ancillary services you provide to your customers.

    14.4. We also do not act as fiduciary, trustee, or escrow holder on behalf of you or on behalf of the payer or payee.

  • 15.   Limitation of Liability

    15.1. With respect to any currency exchange, outbound payment, or settlement order, Skyee, and its Affiliates are not liable for claims or any damages of any kind that result from the non-execution or defective execution of the order where such nonexecution or defective execution is because you have provided information that was inaccurate or incomplete. Furthermore, Skyee and its Affiliates are not liable for any claims or damages of any kind arising from any failure or delay due to events beyond its reasonable control.

    15.2. Skyee and its Affiliates are not parties to the underlying commercial transaction between you and the payer/payee or any other party. It is your responsibility to perform your obligations with respect to the underlying commercial transaction, to take all necessary steps to prevent any unauthorised transactions using or involving your Skyee Account, and to comply with applicable laws and regulations. Skyee and its Affiliates are not liable for any claims or damages of any kind arising from any underlying commercial transaction between you, the payer/payee, or any other party, and from any unauthorised transactions.

    15.3. Skyee and its Affiliates are not liable for claims or damages of any kind that arise from action taken pursuant to Clause 10.

    15.4. Skyee and its Affiliates provide services to you using Service Providers. No agreement exists between the Service Providers and you with respect to our services and each of the Service Providers will accordingly have no liability to you.

    15.5. In no event shall Skyee or its Affiliates be liable to you for any matter arising from this Agreement, under any theory of contract, negligence, strict liability or other legal or equitable theory, for: -

    (a) any special, incidental or consequential damages, including but not limited to any damages resulting from business disruption;

    (b) the cost of procuring substitute services; or

    (c) any amount that exceeds fees paid by you to Skyee under this Agreement during the twelve (12) month period prior to the cause of action.

  • 16.   Indemnification

    16.1. You shall indemnify, defend and hold harmless Skyee and its Affiliates and their respective directors, officers, employees, and agents from any and all liabilities, damages, losses, claims, suits, judgments, costs and expenses, including reasonable attorney fees, arising out of your use of Skyee’s services, including but not limited to (i) your violation of this Agreement and/or (ii) any claims by the payer/pay

    16.2. You shall indemnify Skyee and its Affiliates for any government taxes or fees charged to Skyee in connection with your business activities. You authorize Skyee and its Affiliates to recover any such government taxes or fees from fund held on your behalf. This remedy is not exclusive.

  • 17.   Termination

    17.1. You have the right to terminate the Agreement at any time with or without cause. To terminate the Agreement, you must issue written notice of termination to Skyee. You are deemed to have issued the notice of termination when we have received the notice. The notice of termination should specify the effective date of termination. If no such date is specified, then the Agreement is terminated when Skyee receives the notice from you.

    17.2. Skyee has the right to terminate this Agreement and your access to Skyee’s services at any time with or without cause. To terminate the Agreement, we will send to you a notice of the termination via email. You are deemed to have received the notice when we have sent the notice to the email address associated with your Skyee Account. The notice of termination will specify the effective date of termination. In the most cases, we will set the effective date of termination to be one month from the date of notice. However, in some case, the termination is effective upon the date of notice. Such cases include, but are not limited to the following:

    (i) upon order by law enforcement, regulatory authorities, court, or other government authorities;

    (ii) we discovered that you have provided false, misleading, incomplete or inaccurate information to us or otherwise acted dishonestly in your dealings with us;

    (iii) you breached this Agreement or any other agreement that you entered into with us;

    (iv) your Skyee Account has been compromised or for other security reasons;

    (v) we suspect that you have engaged in fraud, money laundering, terrorist financing or other illegal activities;

    (vi) we suspect that you used Skyee’s services illegally or fraudulently in violation of the laws; or

    (vii) other grounds that we consider appropriate;

    17.3. Unless we are prohibited by law from permitting you to withdraw your funds prior to the effective date of termination, you may settle funds to the Beneficiary Account. After the effective date of termination, if there’s any remaining monies in your Skyee Account, we will make reasonable efforts to contact you to ascertain your instructions with respect to the disposition of the remaining funds by sending notice to you via email. You are deemed to have received the notice after we have sent the notice to the email address associated with your Skyee Account. If you do not respond within one month of the date of the notice, your funds will be considered unclaimed. We have the right to charge an administrative fee on any unclaimed funds, which will continue to apply and taken from your remaining money in your Skyee Account until it is depleted. Unclaimed funds may also be subject to escheatment to the government under applicable law.

    17.4. Following the termination of this Agreement, your Skyee Account would be terminated and you would not be able to access our services.

  • 18.   Inactive Account

    18.1. We deem your Skyee Account to be inactive if you have not used Skyee’s services for a consecutive twelve (12) month period.

    18.2. We will send to you notice that your Skyee Account has reached inactive status. You are deemed to have received the notice after we have sent the notice to the email address associated with your Skyee Account. The notice will provide you information on how to re-activate your Skyee Account and the deadline by which such action must be taken. If you don’t take the action required to re-activate your Skyee Account within one month of the date of the notice, we reserve the right to send you a notice of termination and to terminate this Agreement and your access to our services.

  • 19.   General Provisions

    19.1. Relationship. Skyee and its Affiliates engaged in providing services to you are independent contractors.

    19.3. Governing Laws and Forum for Dispute Resolution. This Agreement is governed by the laws of Singapore. Skyee and you shall submit to the exclusive jurisdiction of the courts of Singapore for the adjudication of any dispute(s).

    19.4. Amendments. From time to time, Skyee may amend the terms under which its Services are offered. Only Skyee has the right to amend this Agreement. We will post the latest revised version of this Agreement on our website at https://sg.skyee360.com/. If we make changes that are material, we will let you know via e-mail or notice via your Skyee Account before the changes take effect. You are deemed to have received the notice after we have sent the notice to the email address associated with your Skyee Account or made the notice available through your Skyee Account. If you disagree with the proposed changes, then you should stop using our services. Your continued use of our services will be subject to the latest version of Agreement. However, any dispute that arose before the changes will be governed by the version of the Agreement that was in place when the dispute arose. This Agreement may also be amended if Skyee and you enter into a separate written agreement to amend this Agreement that is signed by authorized representatives of both parties.

    19.5. You may activate and de-activate your physical Skyee card from your Skyee Account. You are solely responsible for the safeguarding and use of your Skyee Account and Skyee Card (as the case may be), including the disabling of such Skyee Card. upon becoming aware of it being lost or stolen. Skyee shall not be liable for any damages arising from the loss or unauthorised use of your Skyee Card or the unauthorised use of your Skyee Account.

    19.6. Successors and Assigns. This Agreement will be binding upon and will inure to the benefit of the parties, their successors and permitted assigns. You are NOT permitted to assign your rights or delegate your obligations under this Agreement without Skyee’s written consent. Skyee is permitted assign its rights and delegate its obligations under this Agreement without condition.

    19.7. Waiver. No failure of delay to exercise or enforce any right conferred upon Skyee under this Agreement shall be deemed to be a waiver of any such rights or operate so as to bar the exercise or enforcement thereof at any subsequent time or times. Any waiver by either party as to any of the term or condition of this Agreement or any breach thereof in one instance shall not operate as a waiver of the same term or condition or any subsequent breach hereof or prevent the enforcement of any of the terms or condition hereof in any other instance.

    19.8. Severability. If any provision of this Agreement is determined to be void, invalid, illegal or unenforceable by any legislation to which it is subject or by a decision of a court of competent jurisdiction (“Affected Provision”), the Affected Provision shall be rendered void, invalid, illegal or enforceable only to that extent and it shall in no way affect or prejudice the enforceability of the remainder of the Affected Provision or the other provisions of the Terms.

    19.9. Survival. The following provisions survive the termination of this Agreement:

    • Clause 7 Right to Setoff
    • Clause 8 Data Protection
    • Clause 10.7, which relates to court orders
    • Clause 11 Tax Reporting and Payment
    • Clause 13 Warranties
    • Clause 15 Limitation of Liability
    • Clause 16 Indemnification
    • Clause 17.3, which relates to the disposition of your funds post termination.

    19.10. Electronic signature

    19.10.1. You agree that your, or your authorised representative’s, electronic consent to this Agreement is intended to authenticate the writing herein and to have the same force and effect as wet-ink signatures.

    19.10.2. You agree that any agreement, notice or any other document signed, accepted or executed using electronic signatures by you or your authorised representatives is intended to authenticate the writing therein and to have the same force and effect as wet-ink signatures.

    19.11. Captions. The descriptive headings of the clauses and subclauses of this Agreement are for convenience only, do not constitute a part of this Agreement, and do not affect this Agreement’s construction or interpretation.

    19.12. Number and Gender. Any reference in this Agreement to the singular includes the plural where appropriate, and any reference in this Agreement to the masculine gender includes the feminine and neuter genders where appropriate.

    19.13. Merger. This Agreement constitutes the final agreement between Skyee and you. This Agreement is the complete and exclusive expression of the parties’ agreement on the matters contained therein. All prior and contemporaneous negotiations and agreements between the parties on the matters contained in the Agreement are expressly merged into and superseded by the Agreement. The provisions of the Agreement cannot be explained, supplemented or qualified through evidence of trade usage or a prior course of dealings. In entering into the Agreement, neither party has relied upon any statement, representation, warranty or agreement of the other party except for those expressly contained in the Agreement. There are no conditions precedents to the effectiveness of the Agreement, other than those expressly stated in the Agreement.

  • Schedule A

    The following, together with the User Agreement, comprise the terms and conditions that govern the availability and use of our Inbound Payment Service.

    A-1. Contractual Entity

    For Skyee’s Inbound Payment Service, the Contractual Entity (or Contractual Entities) is each company within our corporate group that receive, hold, and/or transfer funds on your behalf. The Payment Account Credential assigned to you determines the Contractual Entity (or Contractual Entities) engaged in providing services to you.

    A-1.1. Group A Service Provider. If the Payment Account Credential is provided by (Skyee Hongkong Company Ltd.), the Contractual Entities are (Skyee Hongkong Company Ltd.) and (Skyee Pte. Ltd.). (“Group A Service Provider”).

    A-1.2. Group B Service Provider. If the Payment Account Credential is provided by (Global M2C Company Ltd.)., the Contractual Entities are (Global M2C Company Ltd.). and (Skyee Pte. Ltd.). (“Group B Service Provider”).

    A-1.3. Group C Service Provider. If the Payment Account Credential is provided by (Skyee Japan Company Ltd.) the Contractual Entity is (Skyee Japan Company Ltd.). and (Skyee Pte. Ltd.). (“Group C Service Provider”).

    A-1.4. Group D Service Provider. If the Payment Account Credential is provided by (Skyee Canada Payments Ltd.) the Contractual Entity is (Skyee Canada Payments Ltd.). and (Skyee Pte. Ltd.). (“Group D Service Provider”).

    A-1.5. Group E Service Provider. If the Payment Account Credential is provided by (Skyee Pte. Ltd.) the Contractual Entity is (Skyee Pte. Ltd.). (“Group E Service Provider”).

    A-2. Our Role

    Skyee serves as your agent to receive funds in payment of goods and services on your behalf and to remit the funds to you.

    A-3. Release of Payer from Payment Obligation

    You acknowledge that the receipt of funds by Skyee on your behalf satisfies and discharges the payer’s corresponding payment obligations to you and that the payer is released from such liability for payment when the funds are received by Skyee on your behalf and not as of later when Skyee settles the funds to you.

    A-4. Payment Account Credentials

    You may apply for credentials to use our Payment Accounts (“Payment Account Credentials”) during the Skyee Account registration process or subsequently thereafter by providing us requested information. Upon our approval of your application, we will provide you with Payment Account Credentials, which you may provide to payers to send funds. Unless otherwise authorized by Skyee, you are only permitted to use the Payment Account Credentials to receive funds. If you cause any person or entity to debit funds from the Payment Account, without our prior approval, you will be liable to Skyee for the amount debited.

    A-5. Service Overview

    The following is an overview of Skyee’s Inbound Payment Service:

    A-5.1. Group A Service Provider. Skyee Hongkong Company Ltd. provides you with the Payment Account Credentials to receive funds in payment for goods and services. Skyee Hongkong Company Ltd. serves as your agent to receive the funds on your behalf, to hold the funds in its Payment Account, and then to settle the cleared funds to your agent Skyee Pte. Ltd. Skyee Pte. Ltd. serves as your agent to receive funds from its affiliate Skyee Hongkong Company Ltd and hold the funds in its Payment Account. Upon your request, Skyee Pte. Ltd. will then convert the funds to another currency, settle the funds to your designated Beneficiary Account, and/or transfer the funds to another payee in payment for goods and/or services or for other permitted purposes.

    A-5.2. Group B Service Provider. Global M2C Company Ltd. provides you with the Payment Account Credentials to receive funds in payment for goods and services. Global M2C Company Ltd. serves as your agent to receive the funds on your behalf, to hold the funds in its Payment Account, and then to settle the cleared funds to your agent Skyee Pte. Ltd. Skyee Pte. Ltd. serves as your agent to receive funds from its affiliate Global M2C Company Ltd and hold the funds in its Payment Account. Upon your request, Skyee Pte. Ltd. will then convert the funds to another currency, settle the funds to your designated Beneficiary Account, and/or transfer the funds to another payee in payment for goods and/or services or for other permitted purposes.

    A-5.3. Group C Service Provider. Skyee Japan Company Ltd. provides you with the Payment Account Credentials to receive funds in payment for goods and services. Skyee Japan Company Ltd. serves as your agent to receive the funds on your behalf, to hold the funds in its Payment Account, and then to settle the cleared funds to your agent Skyee Pte. Ltd. Skyee Pte. Ltd. serves as your agent to receive funds from its affiliate Skyee Japan Company Ltd. and hold the funds in its Payment Account. Upon your request, Skyee Pte. Ltd. will convert the funds to another currency, settle the funds to your designated Beneficiary account, and/or transfer the funds to another payee in payment for goods and/or services or for other permitted purposes.

    A-5.4. Group D Service Provider. Skyee Canada Payments Ltd. provides you with the Payment Account Credentials to receive funds in payment for goods and services. Skyee Canada Payments Ltd. serves as your agent to receive the funds on your behalf, to hold the funds in its Payment Account, and then to settle the cleared funds to your agent Skyee Pte. Ltd. Skyee Pte. Ltd. serves as your agent to receive funds from its affiliate Skyee Canada Payments Ltd. and hold the funds in its Payment Account. Upon your request, Skyee Pte. Ltd. will convert the funds to another currency, settle the funds to your designated Beneficiary account, and/or transfer the funds to another payee in payment for goods and/or services or for other permitted purposes.

    A-5.5. Group E Service Provider. Skyee Pte. Ltd. provides you with the Payment Account Credentials to receive funds in payment for goods and services. Skyee Pte. Ltd. serves as your agent to receive the funds on your behalf and to hold the funds in its Payment Account. Upon your request, Skyee Pte. Ltd. will convert the funds to another currency, settle the funds to your designated Beneficiary account, and/or transfer the funds to another payee in payment for goods and/or services or for other permitted purposes.

    A-6. Approved Payers and Permitted Purposes

    You are only permitted to use your Payment Account Credentials to receive funds from payers that are acceptable to Skyee and for the purposes of receiving funds in payment for goods and/or services or other purposes permitted under this Agreement. Skyee has the right to determine, at its sole discretion, whether to permit funds to be credited to the Payment Account. Funds from non-permitted payers or for non-permitted purposes may be rejected by Skyee.

    A-7. Currency

    You may only use the Payment Account Credentials to receive funds in currency supported by Skyee. Please note that each Payment Account Credential supports receiving funds in specific currencies. When we assign a Payment Account Credential to you, we will inform you of the currencies that can be received. You are responsible for ensuring that incoming funds is in the currency that can be accepted using the Payment Account Credential. Funds that do not correspond to the currency acceptable using the Payment Account Credential may be rejected or converted to another currency and received into the Payment Account. You are solely responsible for any consequence resulting from the rejection of the funds or the exchange of the funds into another currency, including the payment of any expenses associated with the rejection of the funds or any currency exchange.

    A-8. Methods of Electronic Fund Transfer

    You are only permitted to use the Payment Account Credential to receive funds transmitted by methods of electronic fund transfer supported by Skyee. Skyee does not accept funds transmitted via cash, checks, debit or credit card for the Inbound Payment Service. Please note that each Payment Account Credential can receive funds sent via specific types of electronic fund transfer. When we assign a Payment Account Credential to you, we will inform you of the types of electronic fund transfer that the Payment Account Credential supports. You are responsible for ensuring that the incoming funds are sent via an electronic fund transfer is supported by the Payment Account Credential. Funds transmitted via an electronic fund transfer that is not supported by the Payment Account Credential may be rejected and additional costs could be incurred. You are solely responsible for any consequence resulting from the rejection of the funds and the payment of any expenses associated with the rejection of the funds.

    A-9. Acceptance of Incoming Funds

    Skyee reserves the right to accept or to reject incoming funds, in part or in whole, at its sole discretion at any time. Skyee has the right to reject the incoming funds for any reason, including the reasons cited in the clauses above but also for other reasons, including legal compliance and risk management reasons. Skyee is not obligated to disclose the reasons for the rejection of incoming funds.

  • Schedule B

    The following, together with the User Agreement, comprise the terms and conditions that govern the availability and use of our Currency Exchange Service.

    B-1. Contractual Entity

    With respect to the Currency Exchange Service, the Contractual Entity is Skyee Pte. Ltd.

    B-2. Our Role

    Skyee serves as a provider of currency exchange services.

    B-3. Service Overview

    Skyee’s Currency Exchange Service exchanges one currency to another currency.

    B-4. Currencies and Exchange Rates

    The currencies and exchange rates offered by us, at any time, are available through your Skyee Account.

    B-5. Electronic Fund Transfer

    For its Currency Exchange Service, Skyee only accepts funds transmitted via electronic funds transfer. We do not accept funds in cash, check, or debit or credit card.

    B-6. Currency Exchange Order

    To use our service, you must issue a Currency Exchange order with us, which must contain the following information, including but not limited to – (i) the amount of funds to be exchanged; (ii) the foreign currency purchased; and (iii) acceptance of the offered exchange rate. In addition to the Currency Exchange order, we may request that you provide additional information and/or documentation, including that related to the underlying business transaction.

    B-7. Acceptance of Order

    Skyee reserves the right to accept or to refuse the Currency Exchange order. Skyee has the right to refuse to accept the order, including but not limited to, if (i) information in the order is incorrect or incomplete; (ii) you failed to provide the requested information and/or documentation; or (iii) for legal compliance and/or risk management reasons.

    B-8. Restrictions

    B-8.1. Skyee reserves the right to treat two or more transactions suspected to be related, linked, or the result of a deliberate restructuring of an otherwise single transaction into smaller transactions in order to evade AML/CFT laws, as a single transaction and aggregate their values for the purpose of compliance with AML/CFT laws.

    B-8.2. Where the value of an Currency Exchange Order equals to or exceeds SGD$20,000 (or its equivalent in a foreign currency), Skyee may further require information or documents on the background and purpose of said Currency Exchange Order.

  • Schedule C

    The following, together with the User Agreement, comprise the terms and conditions that govern the availability and use of our Outbound Payment Service.

    C-1. Contractual Entity

    With respect to the Outbound Payment Service, the Contractual Entity is Skyee Pte. Ltd.

    C-2. Our Role

    Skyee serves as your agent to make outbound payments on your behalf.

    C-3. Service Overview

    Skyee’s Outbound Payment Service transfers funds on your behalf to designated payees in payment of goods and/or services or for other purposes permitted by Skyee. Pursuant to your Outbound Payment order, Skyee will transfer funds in the amount and currency you designate from your Skyee Account to your designated payee. With the approval of Skyee, you may also transfer additional funds to your Skyee Account.

    C-4. Permitted Purposes

    You are only permitted to use Skyee’s Outbound Payment Service to send funds to designate payee in payment for goods and/or services or for other purposes permitted by Skyee.

    C-5. Electronic Fund Transfer

    For the Outbound Payment Service, Skyee only transfers funds to the designated payee via electronic fund transfer. Furthermore, Skyee will only accept funds transmitted to Skyee via electronic fund transfer. We do not accept funds in cash, check, or debit or credit card.

    C-6. Outbound Payment Order

    To use our service, you must issue an Outbound Payment Order, which must contain the following information, including but not limited to - (i) the amount and currency of the funds to be transferred; (ii) the name of the payee; and (iii) the payee’s bank account information. In addition to the Outbound Payment Order, we may request that you provide additional information and/or documentation, including that related to the underlying business transaction.

    C-7. Acceptance of Order

    Skyee reserves the right to accept or to refuse the Outbound Payment order. Skyee has the right to refuse to accept the order, including but not limited to, if (i) information in the order is incorrect or incomplete; (ii) you failed to provide the requested information and/or documentation; (iii) if the funds are not for the permitted purposes; or (iv) for legal compliance and/or risk management reasons.