FOR USE OF any UAB "DSBC Financial Europe's" Service and Product, with the approval from Monetary Authority of Lithuania. Users are advised to read the terms and conditions carefully.
1.1. The following expression shall have the meanings as set out:
these Terms and Conditions together with the Vendor Application Form;
any relevant taxes chargeable to the Vendor including without limitation Goods and Services Tax;
any company, which is in relation to any other company, its parent or subsidiary or a subsidiary of its parent company or any other person controlled by or under the same control direct or indirect;
the authorization of a Transaction in accordance with this Agreement and subject to the Payment Card Scheme Rules;
an electronic or mobile phone request of an Authorisation for a Transaction generated at the point of sale evidencing the purchase/refund of goods or services by a Cardholder from the Vendor and/or the Nominated Content Provider;
the Bank specified in the Vendor Application Form;
the day on which banks are open for business, excluding Saturdays, Sundays and public holidays.
a person to whom a Payment Card is issued or is authorized to use such Payment Card.
the fee to which a Payment Card Scheme provider may charge from time to time in respect of invalid transactions.
the date of acceptance by the Vendor of these Terms and Conditions or such date mutually agreed between the Parties for commencement of the Payment Services.
any customer of the Vendor and/or the Nominated Content Provider using the Payment Services
the fees and DSBC Financial Europe Transaction Charges as set out in Vendor Fee Form payable by the Vendor to DSBC Financial Europe in accordance with Clause 5 for the provision of the Payment Services
all and any intellectual property rights including without limitation patents, trademarks, service marks, trade names, rights in designs, copyrights, trade secrets and Know-how, whether or not registered, whether or not in existence on the date of this Agreement and including applications for any such right, matter or thing or registration thereof together with any related goodwill.
the Software interface which may be amended or altered by DSBC Financial Europe from time to time. The purpose of such interface being the linking of the Payment Services to the Vendor’s website or the mobile phone device in order to facilitate the processing of the Transactions
such skills, knowledge, experience, technical information or techniques of whatsoever nature utilised by DSBC Financial Europe in the performance of this Agreement
any company, partnership, individual or any other entity that contracts with DSBC Financial Europe for the provision of the Payment Services
"Vendor Application Form"
either an online or paper based application for the provision by DSBC Financial Europe of Payment Services which refer to these Terms and Conditions to be completed by the Vendor prior to any Payment Services being provided;
“Nominated Content Provider”
any vendor supplying content to the Vendor and nominated by the Vendor as notified by the Vendor to DSBC Financial Europe and approved by DSBC Financial Europe in writing
a credit card, or charge card, or debit or prepaid card which DSBC Financial Europe may process from time to time;
“Payment Card Agreement”
a valid and existing agreement between the Vendor and a Bank or card scheme provider (in the case Visa and MasterCard) that provides credit card, or charge card facilities authorizing the Vendor to process credit card, or charge card payments;
“Payment Card Schemes”
any card scheme as notified to the Vendor by DSBC Financial Europe from time to time
“Payment Card Scheme Rules”
the industry standard rules relating to the use of Payment Cards
Secured end-to-end Transaction processing services provided by DSBC Financial Europe between the Vendor, the Nominated Content Provider or the Customer and the Bank via the suite of applications that reside on distributed server-network.
reimbursement of any sum due from the Vendor and/or a Nominated Content Provider to a Cardholder
computer programs, protocols and object codes, source codes and other forms of the same and or algorithms, logic, tools, formats, designs, methods and processes associated with such computer software provided by DSBC Financial Europe to the Vendor, the Nominated Content Provider and/or their Customers, which enables the Vendor, the Nominated Content Provider and/or their Customers to use the Payment Services
a payment, pre-authorization of a payment, refund or reversal made by the Vendor, the Nominated Content Provider or their customer, conducted on the internet or via mobile devices, using a credit card, or charge card, or debit or prepaid card as applicable.
the transaction charge as set out in Vendor Fee Form
the transmission of authorization and settlement transaction messages between the Vendor, the Nominated Content Provider or their Customers and the Bank in a secure manner and in formats compatible with the Payment Gateway System.
the checks on the Payment Cards carried out by the Bank from time to time to check whether a Payment Card is valid for Authorisation of a Transaction.
either the DSBC Financial Europe website owned, operated and maintained by DSBC Financial Europe or the Vendor Website owned, operated and maintained by the Vendor or by a third party on behalf of the Vendor.
1.2. Headings in this Agreement are only for convenience and shall not affect its construction.
1.3. All obligations given or entered into by more than one person are given to or entered into jointly and severally unless otherwise specified.
1.4. Any reference in this Agreement to a paragraph or a schedule is a reference to a paragraph or schedule of this Agreement.
1.5. Any reference to a statute or statutory provision shall be construed as a reference to the same as from time to time amended, consolidated, modified, extended, re-enacted or replaced.
2.1. In consideration of the Fees payable by the Vendor and subject to the Vendor complying in full with its obligations in this Agreement, UAB "DSBC Financial Europe" agrees with effect from the Commencement Date to provide the Payment Services to the Vendor and the Nominated Content Provider(s) for the purpose of processing Transactions via the Payment Gateway System. The Vendor acknowledges that DSBC Financial Europe is not providing the function of a settlement institution but is merely providing a technology infrastructure support. All settlements are to be carried out by the Bank.
2.2. The Vendor shall accept payments through the Payment Services for goods or services provided by it and/or its Nominated Content Providers to any Cardholders or Customers who so wishes to effect such payment and shall indemnify and keep DSBC Financial Europe and the Bank indemnified from and against any liabilities, losses and other consequences arising from any such refusal.
2.3. The Vendor agrees that DSBC Financial Europe in providing the Services does not act as principal but acts as facilitator on behalf of the Vendor to enable the Vendor and/or its Nominated Content Providers to enter into Transactions with its Customers. The Vendor further agrees to allow DSBC Financial Europe to act as facilitator on behalf of the Vendor for the purpose of processing Authorisation Requests. The Vendor waives any claims against DSBC Financial Europe, and fully indemnifies and keeps indemnified DSBC Financial Europe against any claims by its Nominated Content Providers which the Vendor and/or the Content Providers may have whether for the performance or non-performance of any Transaction entered into as a consequence of DSBC Financial Europe’s acceptance of an Authorisation.
2.4. DSBC Financial Europe reserves its right to accept or reject any Vendor Application Form submitted by the Vendor. The Vendor shall also submit an online form to DSBC Financial Europe in the form and manner as determined and notified by DSBC Financial Europe to the Vendor (“Nominated Content Provider Application Form”) in the event the Vendor is desirous of utilizing the Payment Services for any Nominated Content Provider. DSBC Financial Europe reserves its right to accept or reject any Nominated Content Provider Application Form submitted by the Vendor.
2.5. If the Vendor is using DSBC Financial Europe’s vendor ID, the Vendor will be required to place a deposit in the amount as solely and absolutely determined by DSBC Financial Europe. Any dates provided by DSBC Financial Europe for the provision of the Services will be approximate only and DSBC Financial Europe shall not be liable for any delay in completion of the Services howsoever caused.
2.6. DSBC Financial Europe shall process via the Payment Gateway System Transactions made using:
2.6.1. MasterCard Card issued by a member or affiliate of MasterCard International Inc, on which the MasterCard or MasterCard II marks appear, and any other card conforming to the Standards established by MasterCard International Inc.;
2.6.2. American Express Card issued by a member or affiliate of American Express Company, on which the American Express marks appear, and any other card conforming to the Standards established by American Express Company.;
2.6.3. Visa Card issued by a member or affiliate of Visa International, on which the Visa marks appear, and any other card conforming to the Standards established by Visa International; subject to a valid Payment Card Agreement as applicable, being in place in respect of each type of Transaction to be processed.
2.7. Notwithstanding this Clause 2, DSBC Financial Europe does not make any representation, express or implied about the suitability of the Payment Services for the Vendor’s and/or the Nominated Content Provider’s business.
3.1. The Vendor shall comply with all UAB "DSBC Financial Europe" security protocols and security advisories in effect during the terms of this Agreement. The Vendor shall be solely responsible for verifying the accuracy and completeness of all Transactions submitted and processed by DSBC Financial Europe associated with the Vendor’s account and verifying that all corresponding funds are accurately processed. The Vendor acknowledges and agrees that DSBC Financial Europe shall not be liable for any improperly processed or unauthorized Transactions or illegal or fraudulent access to the Vendor’s account, data or Transaction Data. DSBC Financial Europe’s liability for improperly processed or unauthorized Transactions solely attributable to the negligence of DSBC Financial Europe is limited pursuant to Clause 15.
3.2. The Vendor agrees that DSBC Financial Europe will collect, retain and disclose information and data collected from the Vendor and their customers for the purposes of providing the Payment Services. DSBC Financial Europe will use commercially reasonable efforts to safeguard data and Transaction Data transmitted while using the Payment Services.
3.3. The Vendor shall be solely responsible for compiling and retaining permanent records of all Transaction and data for the Vendor’s own reference. Except as otherwise provided herein, at no time shall DSBC Financial Europe have an obligation to store, retain, report or otherwise provide any copies of or access to any records of Transactions or Data collected or processed by DSBC Financial Europe.
4.1. DSBC Financial Europe will maintain the confidentiality of each Transaction and will not collect or otherwise deal in commercially sensitive information, except to the extent necessary for the purposes of this Agreement.
5.1. Save as otherwise expressly provided herein, the Vendor must pay to DSBC Financial Europe the Fees within 30 days of invoice date. The Transaction Charges and related fees laid out in Vendor Fee Form shall be paid at the following times and in the following manner:- (i) for transactions and fees by Vendor and Nominated Content Providers using DSBC Financial Europe’s vendor identification, a deduction of the Transaction Charges shall be made by DSBC Financial Europe from payment received and held in trust by DSBC Financial Europe, which the Vendor hereby irrevocably authorizes DSBC Financial Europe to deduct, (ii) for any remaining charges and fees that after deducting from the Vendor’s account with DSBC Financial Europe within 30 days of invoice date. DSBC Financial Europe is not obliged to refund any portion of the Fees in the event that the Vendor’s business is terminated for any reason. For the avoidance of doubt, the Fees shall apply to each and every Transaction whether by the Vendor or the Nominated Content Provider.
5.2. The Vendor shall be responsible for the acts, defaults, neglect or omission of any of its Nominated Content Provider as fully as if they were the acts defaults neglects or omissions of the Vendor. The Vendor shall procure.
5.3. DSBC Financial Europe reserves the right to charge interest on all outstanding amounts owed to DSBC Financial Europe and not paid in accordance with this Agreement at a rate of 1.5% per month calculated on a daily basis, from the day after expiry of the date the payment is due till full settlement thereof, before and after any judgment. If the Vendor disputes any charge made it must inform DSBC Financial Europe in writing within 7 days of receipt of the relevant invoice. Interest shall accrue notwithstanding termination of this Agreement for whatever reason. The Vendor shall also be responsible for all reasonable legal fees and any other costs incurred by DSBC Financial Europe in connection with collecting or recovering amounts owed by the Vendor under this Agreement (save for any amounts which are subject of a bona fide dispute between the parties).
5.4. Payment of all sums due to DSBC Financial Europe by the Vendor shall be made without any set-off or deduction whatsoever.
5.5. DSBC Financial Europe reserves the right to suspend any of the Services in its sole and absolute discretion and without notice and/or terminate this Agreement in accordance with Clause 13 if the Vendor does not pay any of the amounts due to DSBC Financial Europe from time to time within the period specified in this Clause
5.6. If your transaction involves a currency conversion, it will be completed at a foreign exchange rate which is determined by a Credit Card Issuing Bank. Please note that it is being adjusted regularly based on market conditions. The exchange rate may change without prior notice and may be applied immediately. In the event of any losses incurred due to whatever circumstances, DSBC Financial Europe will not be held responsible and/or liable to such dispute.
6.1. All refunds shall be processed by the Vendor. In the event that the Vendor is unable to process its own refunds and wishes DSBC Financial Europe to process refunds on behalf of the Vendor, DSBC Financial Europe will levy a charge as set out in Vendor Fee Form.
6.2. DSBC Financial Europe shall not be responsible for any Chargebacks. The Vendor agrees and acknowledges that the Vendor will deal with any and all Chargebacks directly with DSBC Financial Europe.
6.3. The Vendor agrees and undertakes to provide DSBC Financial Europe with details of any and all Chargebacks so that DSBC Financial Europe can record such Chargebacks.
7.1. DSBC Financial Europe reserves the right to suspend or terminate the Vendor’s right of access to the Payment Services if
7.1.1. the Vendor is or appears to DSBC Financial Europe to be in breach of any of the provisions of this Agreement including without limitation, the provision of false information submitted on the Vendor Application Form or any other misuse of the Payment Services;
7.1.2. the Vendor ceases to be a party to a binding Payment Card Agreement;
7.1.3. advised to do so by any Bank, Visa or MasterCard.
7.1.4. fraud or the inability of the Vendor to meet the Chargeback is suspected;
7.1.5. if the Vendor is suspected of not meeting security standards set out by the Bank or Payment Card Scheme providers; or
7.1.6. a service upon which the Payment Services System relies is unavailable.
8.1. DSBC Financial Europe here by grants to the Vendor a non-exclusive non-transferable license to use the Software for the duration of this Agreement upon the terms and conditions set out in this Clause 8.
8.2. The licence granted hereunder shall be deemed to incorporate and include all Software, which is supplied from time to time to the Vendor or its Customers by DSBC Financial Europe. This Clause 8 is without prejudice to DSBC Financial Europe’s right to charge the Vendor for the supply of any bespoke software.
8.3. The licence hereby granted and the Vendor’s rights to use the Software are subject to the following restrictions:
8.3.1. the Software shall be used only by the Vendor for the purposes of this Agreement and in relation to the Vendor’s Website;
8.3.2. the Vendor shall not assign sub-license charge or otherwise dispose of or grant rights over the licence hereby granted or the Software and shall not attempt to do any such thing, without the prior written consent of DSBC Financial Europe;
8.3.3. the Vendor shall not attempt to ascertain or list the source programs or source code relating to the Software;
8.3.4. the Vendor shall not decompile or translate the Software into any other computer language or attempt to do so;
8.3.5. the Vendor undertakes that it shall not without the prior written consent of DSBC Financial Europe use the Software for any business purpose not approved by or acceptable to DSBC Financial Europe.
8.4. DSBC Financial Europe reserves its rights to make any improvements, substitutions or modifications in the specification of any element or part of the Software.
9.1. The Vendor authorizes DSBC Financial Europe, its Associated Company, partners, suppliers and/or their agents/contractors, the Bank and any other required party to:
9.1.1. discuss any matter that relates to the establishment of the Vendor Account, the provision of the Payment Services and the Vendor’s Obligations,
9.1.2. complete and/ or correct any details in this Vendor Application, and
9.1.3. provide where necessary a copy of this Vendor Application as evidence of the granting of such authority.
10.1. The Vendor warrants and undertakes that:
10.1.1. All representations and statements made by the Vendor in this Agreement or in any other document relating hereto is true, accurate and complete in all material respects;
10.1.2. It has the necessary authority to agree to these Terms and Conditions and is not by virtue in contravention of any provision of any contracts or its association or constitutional document;
10.1.3. It is in the legitimate business of supplying services and/or selling goods in the market for which it is entitled to receive payment or collect fees or other duties and are duly licensed to conduct such business under the laws of all jurisdictions in which it conducts business
10.1.4. it will comply with all laws, policies, guidelines, regulations, ordinances or rules applicable to the Vendor, this Agreement the Vendor’s business or the Transactions including without limitation (a) the Credit Card Association rules and regulations, expressly including the Payment Card Industry Data Security Standard (b) any regulatory body or agency having jurisdiction over the subject matter here of;
10.1.5. It has open and maintain at all times during the term of its services, an account in its name with one of the banks which participate in the clearing and settling of the payments arising from its use of this Payment Gateway Service;
10.1.6. It provides and will continue to provide, throughout its use of this Payment Services, an adequate level of service to users and cardholders.
11.1. Without limiting the Vendor’s obligations under this Agreement, the Vendor will:
11.1.1. pay any and all Fees in accordance with Clause 5;
11.1.2. comply with all reasonable directions of DSBC Financial Europe relating to the Payment Services including only implementing an Interface exactly to the specification set by DSBC Financial Europe;
11.1.3. comply with all technical, security and privacy standards set out by the Bank and the Payment Card Scheme Rules and provide evidence of compliance to DSBC Financial Europe upon request;
11.1.4. immediately notify DSBC Financial Europe upon any malfunction or breakdown of any part of DSBC Financial Europe Payment Gateway System;
11.1.5. not make any warranty or representation whatsoever in relation to the Payment Services which may bind DSBC Financial Europe liable of any way whatsoever;
11.1.6. if applicable, display the DSBC Financial Europe logo and any associated text on its Website in which the Payment Services are used and further agrees and undertakes to incorporate a hypertext link to the appropriate DSBC Financial Europe Website in a form agreed between the parties. The Vendor further agrees and undertakes to amend the DSBC Financial Europe logo, any associated text, and hypertext link within seven (7) days of a written request from DSBC Financial Europe;
11.1.7. provide DSBC Financial Europe with accurate information regarding the Vendor’s designated bank account;
11.1.8. not use the Payment Services in any manner whatsoever which constitutes a violation of any law or regulation or which may cause DSBC Financial Europe to be subject to any investigation, prosecution or legal action or for any type of business which in the opinion of DSBC Financial Europe is unacceptable;
11.1.9. describe accurately on the Vendor’s Website the procedure for entering into a Transaction by making clear what is being sold on the Vendor’s Website, the price and the action, which must be taken in order to enter into a legally binding contract;
11.1.10. immediately notify DSBC Financial Europe of any technical alterations made to the Vendor’s Website or any other third party services and software that is/are required by the Vendor for the effective delivery of its business operation over the Internet. Under any of these circumstances, DSBC Financial Europe may reassess the Vendor and subject to such reassessment may charge an additional fee or terminate this Agreement with immediate effect.
11.2. For the avoidance of doubt, in the event of termination howsoever caused the Vendor agrees and undertakes to remove any such hypertext link and/or DSBC Financial Europe logo from its Website immediately.
12.1. DSBC Financial Europe will use its reasonable skill and care in providing the Vendor’s Payment Services Solution but will have no liability whatsoever for any and all direct, indirect or consequential loss arising from any delay or failure to provide all or any loss of data which may be sought from delays, failure to provide all or any loss of data which may be sought from delays, failure to deliver or service interruptions outside the control of DSBC Financial Europe including without limitation those arising from errors or omissions on the part of the Vendor or from levels of use which are unusually large and which have the effect of causing disruption or delays in the Payment Services.
12.2. The preceding warranty will not apply if (a) any Payment Services or products provided hereunder are used in material variation with this Agreement or the applicable documentation; (b) any Payment Services or Software have been modified without the prior written consent of DSBC Financial Europe; or a defect in any Payment Services or Software has been caused by any of Vendor’s malfunctioning equipment or software.
12.3. DSBC Financial Europe does not warrant that the Payment Services and/or Software are error free or will operate without interruption or are compatible with all equipment and software configurations. DSBC Financial Europe gives no warranty whatsoever as to the quality of information received through the Services and/or Software.
12.4. DSBC Financial Europe shall use commercially reasonable efforts to remedy material interruptions and will provide adjustments, repairs and replacements, within its capacity, that are necessary to enable the Payment Services to perform their intended function in a reasonable manner. The foregoing shall constitute your sole remedy, and DSBC Financial Europe’s sole liability in the event of interruption, outage or other delay occurrences in the Payment Services. DSBC Financial Europe does not warrant the services of any third party, including without limitation, the Vendor Service Provider, bank or any third party processor.
12.5. The warranty provisions under this Clause 12 shall be subject to the Vendor complying with its obligations under this Agreement and all other relevant agreements and to the Vendor having used the Payment Services strictly in accordance with the instructions of DSBC Financial Europe and in accordance with this Agreement.
13.1. This Agreement shall commence on the Commencement Date and shall continue to be in force for an initial period of 36 months subject always to the provisions for earlier termination contained in this Agreement. The Vendor may request for an extension or renewal of this Agreement for a further period of 36 months by giving 30 days prior notice in writing before the expiry of the initial term subject to terms and conditions being mutually agreed upon between the parties.
13.2. Without prejudice to any other provisions of this Agreement, this Agreement may be terminated by either party:
13.2.1. on giving written notice to the other party if the other party is in breach of this Agreement and shall have failed either to remedy the breach or in the case of an irremediable breach, to pay reasonable compensation to the other party in either case within 30 days of receipt of a written request from the other party to remedy the breach or pay reasonable compensation; or
13.2.2. on giving written notice to the other party if the other party shall have a receiver, manager, administrator, administrative receiver or liquidator appointed or shall pass a resolution for winding up (otherwise than for the purpose of solvent amalgamation or reconstruction) or a court shall make and order to that effect or if the other party shall enter into any composition or arrangement with the creditors.
13.3. Without prejudice to any other provisions of this Agreement, DSBC Financial Europe may terminate this Agreement by giving to the Vendor not less than 30 days written notice of termination. In the event of DSBC Financial Europe giving notice pursuant to this clause 13.3 the parties will discuss arrangements for the orderly completion of any work in hand. For the avoidance of doubt, the parties obligations (including the obligation of the Vendor to pay the Fees to DSBC Financial Europe nhereunder in accordance with Clause 5 for all Payment Services provided up to the date of termination) shall continue during such 30 day notice period.
13.4. Any notice given under Clause 13.2.1 or 13.2.2 shall state the date when such termination shall take effect, such date not to be greater than 7 days after the date of such notice. For the avoidance of doubt, any such notice may be stated to take effect forthwith.
13.5. DSBC Financial Europe may terminate this Agreement with immediate effect by notice in writing in the event that:
13.5.1. any Bank declines to offer or continue to provide the Vendor with services for any reason whatsoever; or
13.5.2. where the Vendor wishes to use the Payment Services to support a business which is contrary to any applicable laws or prohibited under the Payment Scheme Rules; or
13.5.3. if the Vendor is unable to pay its debts when due; or
13.5.4. if the Vendor ceases or threatens to cease carrying on its business
14.1. Any termination of this Agreement howsoever occasioned shall not affect any accrued rights or liabilities of either party nor shall it affect coming into force or the continuance in force of any provision hereof which is expressly or by implication intended to come into or continue in force on or after such termination.
14.2. In respect of the period if any between the date that notice of termination is given and the effective date of termination (“the Termination Date”) the following provisions shall have effect:
14.2.1. DSBC Financial Europe shall continue to provide the Payment Services until the Termination Date;
14.2.2. on the Termination Date DSBC Financial Europe shall cease to provide the Payment Services; and
14.2.3. the Vendor shall pay all Fees due in accordance with Clause 5 up to and including the Termination Date.
14.3. In the event of termination of this Agreement for whatever reason, the Vendor shall:
14.3.1. immediately return to DSBC Financial Europe all material, documentation or otherwise relating to the Payment Services; and shall not thereafter use the DSBC Financial Europe trademarks or derivatives thereof; and
14.3.2. permit DSBC Financial Europe access to the Vendor’s premises to remove all materials, documentation supplied by DSBC Financial Europe for the provision of the Payment Services.
15.1. DISCLAIMER. Except as otherwise provided in this agreement, the vendor expressly agrees that DSBC Financial Europe shall not be liable for any loss (however occurring, including negligence) arising from or relating to : (a) the vendor’s failure to properly activate, integrate or secure the vendor’s account; (b) fraudulent transactions processed through your payment gateway account(s); disruption of DSBC Financial Europe services, systems, server or website by any means, including without limitation software viruses, Trojan horses, worms, time bombs or any other technology; (d) actions or inactions by any third party, including without limitation, a vendor service provider or bank; or (e) unauthorised access to (i) data, customer data, transaction data or personal information belonging to DSBC Financial Europe, vendor or any third party or (ii) the Payment Services or any system or programme associated therewith; or (f) the limitation of the functioning of any DSBC Financial Europe services or software, hardware or equipment associated therewith or (g) rejection of payments or any dispute arising between the vendor and the cardholders or customers.
15.2 THIRD PARTY PRODUCTS AND SERVICES. DSBC Financial Europe makes no representations, warranty or guarantee whatsoever in relation to third party products or services. Your use of third party products and services is at your own risk. DSBC Financial Europe assumes no responsibility and expressly disclaims any liability for claims of loss and/or fraud incurred resulting from the use of or conclusions drawn from any third party product or service, regardless of whether or not DSBC Financial Europe is a reseller or referral agent for such product or service.
16.1. This Vendor Application is conditional upon the Vendor being granted a Payment Card Agreement as applicable, and DSBC Financial Europe’s written acceptance of the Vendor Application by a duly authorized representative.
17.1. The Vendor acknowledges and agrees that all Intellectual Property rights in and relating to the DSBC Financial Europe logo, DSBC Financial Europe trademarks and Software are owned by DSBC Financial Europe or its affiliates. The Vendor may only use such Intellectual Property rights in accordance with DSBC Financial Europe’s written instructions from time to time.
18.1. Both parties will keep confidential and will ensure that its employees and subcontractors keep confidential and will not use or disclose or attempt to use or disclose to any person any Confidential Information which comes to the knowledge of the Parties during this Agreement.
18.2. The term “Confidential Information” extends to all knowledge and information relating to the trade, business activities, operations, organization, finances, processes, dealings, specifications, methods, designs, formulae, computer software and technology of and specifically concerning any of the parties, customers or suppliers.
18.3. The restriction contained in Clause 18.1 shall apply both during and after the termination of this Agreement but shall cease to apply to information or knowledge which:
18.3.1. has in its entirety become public knowledge otherwise than through any unauthorized disclosure or other breach of such restriction;
18.3.2. has already come into the possession of either party or independent third party without breach of any obligation of confidentiality;
18.3.3. either party has consented in writing to it being disclosed; and
18.3.4. is or has been independently developed by either party without reference to or use of the Confidential Information.
18.4. All Confidential Information (howsoever stored) concerning either party supplied by either party or prepared by or on behalf of either party for the purposes of this Agreement and all copies and extracts of it made or acquired by or on behalf of either party shall be used only for the purposes of this Agreement and shall be the property of the party to whom such Confidential Information relates to and shall be returned to the party upon termination of this Agreement.
19.1. This Agreement is personal to the Vendor and the Vendor may not without the prior written consent of DSBC Financial Europe assign or dispose of it, part with any interest in it or grant any sub-license or delegate any of the rights conferred by it. DSBC Financial Europe shall be entitled to assign and/or sublicense this Agreement in whole or in part.
19.2. DSBC Financial Europe further reserves the right to fulfill any of its duties and powers under this Agreement by using agents and subcontractors.
20.1. The formation, construction, performance, validity and all aspects whatsoever of this Agreement shall be governed by the laws and regulations of The Republic of Lithuania. The parties hereby submit themselves to the exclusive jurisdiction of the courts of The Republic of Lithuania.
21.1. The Vendor shall not involve DSBC Financial Europe in any dispute or claim that may arise between the Customers or Cardholders and the Vendor unless:
21.1.1. Such dispute or claim relates specifically to the use of the Payment Services; and
21.1.2. Such dispute or claim is notified to DSBC Financial Europe within thirty (30) days of the date of occurrence of the dispute or claim; and
21.1.3. Such dispute or claim arises from a Transaction through the Vendor’s URL registered with DSBC Financial Europe for the use of the Payment Services; and
21.1.4. The Vendor has furnished to DSBC Financial Europe all materials and information relating to the said dispute or claim which DSBC Financial Europe may reasonably request for the purpose of its investigations.
21.2. It shall be the sole responsibility of the Vendor to deal with all complaints made by the Customers or Cardholder in respect of the goods or services supplied under the Payment Services in like manner as if such goods or services had been supplied by the Vendor under other forms of payment acceptable to the Vendor.
21.3. In the event of a dispute or claim of whatever nature arising from payment through the Payment Services, the records of detailed transactions available from the Vendor and DSBC Financial Europe shall be used as a reference and shall be the sole basis of settling the aforesaid dispute or claim. In the event where there are discrepancies between the records of DSBC Financial Europe and of the Vendor, the discrepancies shall be jointly investigated by DSBC Financial Europe and the Vendor using information from both parties whenever appropriate, and proper adjustments (if necessary) shall be made accordingly but where the discrepancies cannot be reconciled, the records of DSBC Financial Europe shall prevail.
21.4. The Vendor agrees that where multiple payments have been affected by or on behalf of a Customer or Cardholder in respect of any transaction, whether through the Payment Services or through any other existing system of payment, the Vendor shall refund or reimburse such Customers or Cardholder for such excess payments made and shall fully indemnify and keep indemnified DSBC Financial Europe against any claim related to such excess payments.
22.1. Any notice or other communication required to be given hereunder shall be given by post or facsimile address to the parties at the address contained in this Agreement or such other addresses as shall have been notified to the other for the purposes of this Agreement. Any notice so given by post shall unless the contrary is proved, be deemed served at the expiry of three days after it is posted and in proving such posting it shall be sufficient to prove that the envelope containing the notice was properly addressed and posted as a pre-paid letter. Any notice given by facsimile shall, unless the contrary is shown, be deemed to have been served when in the ordinary course of transmission it would first be received by the addressee in normal business hours.
23.1. If any terms or provision of this Agreement shall be held to be illegal or unenforceable in whole or in part, under any enactment or rule of law, such term or provision or part shall to the extent be deemed not to form part of this Agreement but the validity and enforceability of the remainder of this Agreement shall not be affected.
24.1. No amendment, modification or change to any provision of this Agreement, nor consent to any departure by either party therefrom, will in any event be effective unless the same shall be in writing and signed by the other party, and then such consent will be effective only in the specific instance and for the specific purpose for which given. Notwithstanding the foregoing, DSBC Financial Europe may amend this Agreement at any time upon written or electronic notice to the Vendor of not less than ten (10) days prior to the effective date of such amendment, provided that the addition or change of Fees will become effective upon at least thirty (30) days’ notice. If the Vendor does not agree to such amendments, the Vendor’s sole remedy is to immediately terminate this Agreement upon written notice to DSBC Financial Europe.
25.1. The Agreement represents the entire agreement and understanding between the parties relating to the subject matter of this Agreement and supersedes any and all prior agreements, arrangements, statements and understandings, except for any fraud or fraudulent representation by either party.
25.2. If any provision of this Agreement is held to be invalid or unenforceable for any reason, the remaining provisions will continue in full force and effect without being impaired or invalidated in any way.
25.3. No forbearance, delay or indulgence by either party in enforcing the provisions of this Agreement shall prejudice or restrict the rights of that party nor shall any waiver of its rights operate as a waiver of any subsequent breach.
If you have any questions, please contact us by email or regular mail at the following address: