Terms & Conditions

 

Last Revised: June 12, 2018
Covercy provides certain money exchange services on or through the Website as defined below. All content and services made available through the Website that were not made available as of the “Last Revised” date above, shall automatically be deemed to be part of the Services when first made available through the Website. You are deemed to accept these terms and conditions by any of the following: (a) selecting “I Agree” to these Terms; (b) completing the registration process; (c) using the Website in any way; or (d) browsing the Website; and thereby enter into a legal and binding agreement with Covercy.
Certain areas of the Website and your access to certain Services may be subject to different terms and conditions, which may be posted or may require you to agree with and accept additional terms and conditions. If there is a conflict between these Terms and the terms and conditions posted for a specific area of the Website or for specific Services, the latter terms and conditions shall take precedence with respect to your use of or access to that area of the Website or Services. We strongly recommend that prior to using the Services you carefully read through these Terms and any linked documents, including the Privacy Policy.
Covercy reserves the right to amend the Terms at its sole discretion and any modifications shall be effective immediately upon posting the revised terms on the Website . We will announce any such change by posting the revised draft of the Terms on the Website. You can determine when the Terms were last revised by referring to the “Last Revised” legend at the top of this page. By continuing to use the Website following such changes, you will be deemed to have agreed to such changes. If you do not agree with the Terms or any changes thereto, you may not continue using this Website.
These are the Terms of Business of the Covercy Group, whose two principal entities provide certain money exchange services on or through the Website.
1. Contracting parties, law and jurisdiction
   1.1 For the purposes of these Terms:
   1.1.1 If you are a resident of the State of Israel, your agreement is deemed to be with Covercy Technological Trading Limited, referred to in these Terms as “Covercy Israel”, and these Terms will be subject to Israeli law and to the exclusive jurisdiction of the courts of Israel.
   1.1.2 If you are resident in the United Kingdom, your agreement is deemed to be with Covercy Europe Limited, referred to in these Terms as “Covercy Europe” and these Terms will be subject to English law and to the exclusive jurisdiction of the courts of England; and
   1.1.3 If you are resident in any other jurisdiction, your agreement is deemed to be with Covercy Europe and these Terms will be subject to English law and to the non-exclusive jurisdiction of the courts of England.
   1.2 References In these Terms to:
   1.2.1 “the Covercy Group” are to Covercy Israel and Covercy Europe together; and
   1.2.2 “Covercy” are to either or both of Covercy Israel or Covercy Europe, depending on the context and to which provision in clause 1.1 applies to you as Covercy’s customer.
   1.3 Covercy Israel is a licensed currency services provider pursuant to Israel’s Anti Money Laundering Law 2000.
   1.4 Covercy Europe is regulated in the United Kingdom with the FCA as an Authorised Payment Institution subject to the terms of the PSRs. Its reference number with the FCA is 675000.
   1.5 The main business for the Covercy Group is money transfer and provision of services for making foreign currency payments internationally.
   1.6 The Covercy Group communicates with all its customers in English, and you are expected to communicate with Covercy in English.
   1.7 If you are contracting under these Terms with Covercy Europe, then these Terms are deemed to be provided to you in accordance with the obligations of Covercy Europe under regulation 49 of the PSRs, and you will have the opportunity to review them in full before agreeing to be bound by them.
   1.8 IMPORTANT – these Terms are periodically updated, and the version currently in force is identified by the date at the top of page on the Website where these Terms are displayed. The Covercy Group may amend these Terms at any time. You will receive notice of any such amendment and Covercy will give you as much notice as is reasonable in the circumstances. However, occasionally an amendment needs to be made for legal or regulatory reasons under circumstances that do not allow for much if any advance notice.
   1.9 IMPORTANT – please carefully read through these Terms and any linked documents before using the Services. You may find it useful to keep a printed copy or to download a PDF of these Terms to your computer.
2. Definitions and Interpretation
   2.1 The following expressions are used in these Terms with these meanings
Applicable Jurisdiction refers to the jurisdiction whose law and courts apply to these Terms under 1.1 above;
Business Day a day on which banks in both the Source Currency’s issuing country and the Target Currency’s issuing country are routinely open for non-automated business.
Covercy is defined at 1.2.2 above;
Covercy Account means Covercy’s bank account, the details of which are provided to you for the purpose of executing the Transaction.
Covercy Europe refers to Covercy Europe Limited, a private limited company registered in England and Wales under company number 09447723 whose registered office is located at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD;
Covercy Group is defined at 1.2.1 above;
Covercy Israel refers to Covercy Technological Trading Ltd., a company registered in Israel under company number 515200657;
Credit Card refers to any credit card, debit card or other applicable and broadly equivalent payment methods as may be indicated on the Website;
Day means a calendar day;
Deposit means the transfer of the necessary amount in Source Currency to the Covercy Account in order to enable Covercy to execute the Transfer Order and to cover the applicable Fees (and “Deposited” shall be understood accordingly);
FCA the UK’s Financial Conduct Authority, with whom Covercy Europe is registered for the purposes of the PSRs;
Fees means those amounts stated in the Fees List (or the fees presented to you on the Website in the course of submitting a Transfer Order, which shall apply in place of the Fees List)
Fees List means the list of Fees located at www.covercy.com/pricing
Fixed Source Transaction is defined at 5.4;
Fixed Target Transaction is defined at 5.3;
Force Majeure in accordance with regulation 96 of the PSRs, abnormal and unforeseeable circumstances beyond the control of the person who claims to be affected by them, the consequences of which would have been unavoidable despite all efforts to the contrary
GDPR refers to the General Data Protection Regulation of the European Union 2016/679/EU
PSRs refers to the UK’s Payment Services Regulations 2017, which apply directly to these Terms where the Applicable Jurisdiction is the United Kingdom;
Recipient means the person to whom a Transaction is sent.
Registered User means a User who has completed the registration process and has an active account with Covercy.
Restricted Territories means any countries, territories or jurisdictions blocked by Covercy at its sole discretion, details of which will be published and updated from time to time on the Website.
Services means the money transfer services and related products or services available from time to time through the Website.
Source Currency means the type of currency Deposited into the Covercy Account.
Suspicion of Improper Activity refers to Covercy’s suspicion that the account of a Registered User is being used for any of the following purposes:
   (a) the laundering proceeds of crime;
   (b) any criminal or fraudulent purpose;
   (c) the financing of terrorism;
   (d) the circumvention of any applicable sanctions;
   (e) the provision of moneys to persons in Restricted Territories; or
   (f) the evasion of the Registered User’s or any other person’s responsibility to account for taxation in any relevant jurisdiction
Target Currency means the type of currency into which the Source Currency is converted and transferred to the Recipient.
these Terms means these Terms including all subsequent amendments.
Transaction refers to the process of execution of a Transfer Order.
Transfer Flow means all the Transfer Order details presented on the Website at the time you submit the Transfer Order in question.
Transfer Order means an instruction validly provided by you to Covercy requesting the execution of an exchange of money from a Source Currency into a Target Currency and its transfer to a recipient’s bank account.
the Website refers primarily to www.covercy.com, but also to each and every other Website from which Covercy provides the Services (or any of them) from time to time.
we, us, our, ours refer to Covercy;
you, your, yours, the User refers to you, as a customer of Covercy, permitted to use the Services subject to these Terms.
   2.2 In these terms:
   2.2.1 use of the masculine gender implies use of the feminine and neuter genders;
   2.2.2 use of the singular implies the plural and vice versa, other than where this would clearly be incorrect in the context;
   2.2.3 references to a requirement that something be “in writing” or “written” shall include email (and all matters attached to or embedded in an email) but shall not include the use of social media platforms.
3. Entering into these Terms
   3.1 You may only register to be a User of the Services by warranting to Covercy that you comply with all of the following conditions:
   3.1.1 You are at least 18 years old, or the legal age as determined by the laws of the country where you live (whichever is higher);
   3.1.2 You represent and warrant to us that:
   3.1.2.1 if you are an individual and you open an account with us, you are not acting on behalf of an undisclosed principal or a third party beneficiary;
   3.1.2.2 if you act on behalf of a legal entity, you are duly authorized to act on its behalf (and Covercy reserves the right to ask for proof to support this status).
   3.1.3 You will not be in violation of any law or regulation as a result of using the Services.
   3.1.4 You are not a resident of any of the Restricted Territories.
   3.1.5 If contracting for the Services to be provided by Covercy Israel, you are a signatory on an Israeli bank account and, if you are providing a Credit Card, this is linked to that bank account.
   3.1.6 You are not a citizen or resident of the United States of America (unless you are a corporate entity that is regulated in the United States of America at Federal or State level to provide services materially the same as those which Covercy provides).
Each of these warranties applies at all times that you remain a Registered User, and if Covercy becomes aware that any is not true (or never was true), Covercy is entitled to terminate these Terms without notice.
   3.2 To enter into these Terms, please complete the Covercy Group’s on-line registration process (and provide such further information or materials regarding yourself as that process requires) and select the “I Agree” option when prompted to indicate that you agree and accept these Terms.
   3.3 IMPORTANT – Before enabling you to use the Services, we have to perform mandatory identity verification checks. For these purposes we require you to provide:
   3.3.1 photographic evidence of your identity, such as a copy of your passport; and
   3.3.2 certain additional supporting documentation,
all as detailed in the registration pages of the Website. These materials may be uploaded to the registration page, or forwarded to Covercy by fax or email. We may require you to attend a face to face meeting with us. Covercy also reserves the right to access various government and private databases so as to verify the information that you provide to us. Covercy is under legal and regulatory obligations to ensure that it has properly identified each person applying to do business on the Website, and conclusion of this process may take time, during which period you will not yet be permitted to place transactions through the Covercy Group systems.
   3.4 Please also note that Covercy has the right to refuse to accept your application to do business under these Terms on the Website, and is not required to provide any reason for such refusal.
   3.5 Subject to completion of your registration process and of all processes that Covercy is required to conclude before conferring upon you the status of Registered User, these Terms come into force on the date which Covercy notifies to you and remain in force until terminated in accordance with 8 below.
   3.6 Duplicate Accounts – Covercy reserves the right to refuse the creation of duplicate accounts for the same User; this is part of Covercy’s obligations in case of Suspicion of Improper Activity. If Covercy detects a duplicate account we reserve the right to close or merge these duplicate accounts without notification. 
   3.7 Covercy will notify you once it has processed your application and confirm to you that you may commence transactions on the Website subject to these Terms and your use of your two-factor identification which would normally include your email address and unique password.
   3.8 Access to certain areas of the Website and to certain Services may be subject to further specific terms and conditions. If there is a conflict between these Terms and the terms and conditions posted for a specific area of the Website or for specific Services, the latter terms and conditions shall apply.
4. Transfer Orders
   4.1 Transfer Orders may be given as the following types:
   4.1.1 Fixed Target Transaction. Transfer Orders, where you require Covercy to transfer a fixed amount of the Target Currency to the Recipient.
   4.1.2 Fixed Source Transaction. Transfer Orders, where you order to convert a fixed amount of Source Currency and transfer the resulting amount of Target Currency to the Recipient
   4.2 As part of any Transfer Order that you place, you must provide accurate information to enable Covercy to properly identify the Recipient and the bank account of the Recipient to which the relevant moneys are to be transferred. If you do not have all of the information available, you may notify Covercy of the Recipient’s email address and Covercy will request the Recipient to complete the information.
   4.3 Covercy reserves the right to refuse to execute any Transfer Orders or to delay their performance without being required to provide any reason or explanation.
   4.4 Transfer Orders will only be executed upon receipt of the Deposit of Source Currency into the Covercy Account. Upon receipt of the Deposit, the Transaction will normally be completed within 3 Business Days.
   4.5 As part of the Transfer Order, Covercy will notify you of the amount of the Deposit to be made (in order to perform the Transaction and cover all associated Fees) and provide you with the Covercy Account details.
   4.6 If your Transfer Order or the Deposit are received by 5:00pm (Israel Time) on a Business Day in Israel, these are deemed to have been received on that Business Day. Otherwise these are deemed to have been received as at 5.00pn (Israel Time) on the next day that is a Business Day in Israel. For avoidance of doubt, this provision applies regardless of which Covercy Group entity you have contracted with.
   4.7 Within one (1) Business Day of a Transfer Order, Covercy will provide you with a “Confirmation Notice” by e-mail which shall include a reference enabling you to identify the Transaction and, if appropriate, information relating to the Recipient. The Confirmation Notice shall also summarize the terms of the Transaction (including the Source Currency, the Target Currency, the amount of each currency, the applicable exchange rate, the amount of the Transaction following the currency conversion, and the amount of any Fees).
   4.8 The Confirmation Notice is provided to you for record keeping purposes only and does not form part of your Transaction or Transfer Order. If you have not received the Confirmation Notice, you must notify us at the latest within 2 Business Days of placing the Transfer Order. Otherwise, our record of your Transfer Order shall be definitive. Please note, however, that no change to any cancelation will be permitted after the Source Currency amount has actually been converted into the Target Currency amount.
   4.9 You may check the status of a Transfer Order or review your Transaction history on the Website.
   4.10 Transfer Limits – Depending on the currencies involved in a Transaction, there may be restrictions on the upper or lower transaction limit permitted. Such limits will be indicated if applicable.
   4.11 IMPORTANT – You are responsible for ensuring the details you provide in relation to each and every Transfer Order you place are accurate. Once a Transfer Order has been executed by Covercy it cannot be reversed and Covercy will not be liable in any way for any loss you suffer as a result of a Transaction being carried out in accordance with incorrect or incomplete instructions provided by you.
   4.12 IMPORTANT – In the unlikely event that you notice an error in either the Transfer sent or received as a result of using the Services, then you should immediately notify us at support@covercy.com. If you become aware that you have received a Transfer of more than the amount that you were expecting, you must immediately notify us of this so that arrangements can be made to immediately return any overpayment.
5. Your rights and our obligations in relation to disputed Transactions
   5.1 If it comes to your attention that:
   5.1.1 we have executed a Transfer Order for your account that you did not instruct; or
   5.1.2 we have manifestly incorrectly executed a Transfer Order for your account,
then we accept responsibility (which is in accordance with the relevant provisions of regulations 74 – 76 of the PSRs if the Applicable Jurisdiction is the United Kingdom) to investigate this matter and to rectify it at our expense, provided that you have drawn this to our attention as soon as reasonably possible (and at any rate not later than 13 months following the value date for the disputed Transfer Order).
   5.2 As a matter of general principle (and in accordance with regulation 91 of the PSRs where the Applicable Jurisdiction is the United Kingdom), Covercy will be responsible at our cost for correctly and promptly executing any Transfer Order which you believe not to have been correctly executed (or not executed at all), or where for some reason execution is no longer possible then for refunding to you the value thereof, except where Covercy can show that the intended recipient financial institution (representing the Recipient that you have indicated to us) has in fact received the moneys that were the subject of the Transfer Order.
   5.3 The provisions of 5.1 and 5.2 are suspended in the event of Suspicion of Improper Activity.
   5.4 Also overriding the provisions of 5.1 and 5.2, please note that Covercy is not liable (where the Applicable Jurisdiction is the United Kingdom, in accordance with regulation 77(2) of the PSRs) and you will be exclusively liable, where loss arises from your fraud or negligence.
6. Exchange Rates
   6.1 Covercy makes reasonable efforts to execute Transactions at exchange rates aligned to the mid-market rates for relevant currencies as quoted on global currency markets at the time of execution. Covercy relies on aggregated third party information sources, and we do not guarantee that the rates match any particular benchmark source at any given time.
   6.2 Any exchange rate presented on the Website is accurate only at the time of its presentation and serves only as an indicative rate for your use of the Services. Covercy shall not be liable for any fluctuations of the exchange rate which may affect the worthwhileness of the Transaction or the amount of Target Currency. Covercy is entitled to change quoted exchange rates without notice to you.
   6.3 Fixed Target Transaction
   6.3.1 If you request a Fixed Target Transaction and the Website informs you that your Transfer Order is eligible for it, the exchange rate applicable to the Transaction will be locked in at the time you initiate your Transfer Order (the “Locked-In Exchange Rate”) for the Rate Guarantee Period, as defined in 6.3.2 below. If your Transfer Order is ineligible for a Fixed Target Transaction at that time, Covercy will offer you a Fixed Source Transaction. Such ineligibility to lock in an exchange rate may be due to your Transfer Order being made
   6.3.1.1 outside of a Business Day; or
   6.3.1.2 after 5:00 pm (Israel Time) on a Business Day.
   6.3.2 Subject to 6.3.3, the Rate Guarantee Period shall mean the earlier of:
   6.3.2.1 a period which we show you in the Transfer Flow (please note that such period may vary for different currencies); and
   6.3.2.2 the period that ends at the point in time in which the market rate for the relevant currency goes above or below (as the case may be) the rate that we present to you in the Transfer Flow (the ”Stop Rate“).
   6.3.3 Covercy reserves the right to extend the Rate Guarantee Period, and you hereby waive any claims against Covercy with respect to such extension. You will be notified of any extension of a Rate Guarantee Period that applies to your Transaction. Following the lapse of the Rate Guarantee Period, Covercy has the right to cancel the Transfer Order and to charge you all or a part of the Security Fee. You hereby waive any claims against Covercy with respect to such cancellation.
   6.3.4 To initiate a Fixed Target Transaction, you are required to provide a valid Credit Card to be used as security for the Transfer of the Deposit and to authorize us to charge your verified Credit Card a Security Fee, if you do not complete or you cancel the Transaction.
   6.3.5 Prior to the exchange rate for the relevant currency reaching the Stop Rate, Covercy has the right to notify you that the Rate Guarantee Period is due to expire due to fluctuations in the spot exchange rate. In such a case, in order to continue to secure the Locked-In Exchange Rate, you will be required to authorize Covercy to charge your verified Credit Card a new or increased Security Fee. Should you not consent to such an increase in the Security Fee, the Transfer Order will be cancelled and you will be charged with the applicable non updated Security Fee.
   6.3.6 We will convert the Source Currency amount at the Locked-In Exchange Rate provided that the Deposit reaches the Covercy Account within the Rate Guarantee Period, regardless of the actual mid-market rate at the time of the conversion.
   6.3.7 Where the Deposit reaches or is deemed to reach the Covercy Account after the Rate Guarantee Period has lapsed, then the Locked-In Exchange Rate will no longer apply. We will notify you of this and ask for further instructions based on market conditions at that time. If your instructions are to place a Transaction, such instructions will be considered to be a new Transfer Order.
   6.3.8 Without derogating from 6.3.7above, should the Deposit not reach the Covercy Account within the Rate Guarantee Period, your Credit Card will be charged the relevant Fees
   6.4 Fixed Source Transaction
   6.4.1 If you request a Fixed Source Transaction, or fail to provide a valid Credit Card for a Fixed Target Transaction, the Effective Rate applicable to the Transaction will be set on the Business Day your Deposit is received (or deemed to be received) in the Covercy Account. Covercy is not liable if the Target Currency amount after the exchange is less than anticipated as a result of changes in the global currency markets.
   6.4.2 In any Fixed Source Transaction, in order to protect you from negative volatility in the global foreign exchange markets, Covercy automatically applies a 3% rate limit (the ”Automatic Rate Limit“) to all Transactions in any currency. This means that should the conversion rate move negatively against you beyond the Automatic Rate Limit, then Covercy will suspend the execution of the Transaction and contact you for further instructions.
   6.4.3 Covercy will pass on any improvements in exchange rates to the Recipient. Any rate limits will only apply to limit negative rate movements.
7. Cancellation of a Transaction
   7.1 You may withdraw consent a Transaction at any time before the Deposit reaches (or is deemed to reach) the Covercy Account, by contacting us or canceling online (if such option is available). This has the effect of cancelling the Transaction. If your Transfer Order was a Fixed Target Transaction, your Credit Card will be charged the Security Fee as detailed in the Fee List. For the purposes of Registered Users contracting under these Terms with Covercy Europe, the provisions of this 7.1 comply with the relevant provisions in regulations 67 and 83 of the PSRs.
   7.2 If a Transaction that you placed is cancelled by you or refused by Covercy, then Covercy will promptly return the Deposit to the original source of funds from which the Deposit was paid. In this case you may be liable for a Fee, which will be deducted from your Deposit.
   7.3 Once the Deposit is deemed to have reached the Covercy Account, you lose the right to cancel the relevant Transaction (though in applicable circumstances Covercy may still cancel it). For more, see transaction cancellation policy.
8. Termination of Registered User status
   8.1 You may terminate your status as a Registered User at any time by submitting notice on the Website. Termination shall not affect the status of any pending Transfer Order, which will be completed in accordance with these Terms.
   8.2 Covercy may terminate your password, account (or any part thereof) or use of the Services and the Website, for any reason, including, without limitation, if we believe that you have violated or acted inconsistently with the letter or spirit these Terms. We may also terminate your Registered User status upon receiving information we believe to be reliable concerning your commission of (or suspicion of commission of) any criminal offence:
   8.2.1 the nature of which involves allegations of dishonesty; and/or
   8.2.2 which carries or is capable of carrying a custodial sentence upon conviction in the jurisdiction in which you are based,
and will cooperate with law enforcement agencies on such matters without reference to you.
9. Termination or modification of the Services etc.
   9.1 Covercy is entitled at any time to discontinue providing the Services, or any part thereof, to you or generally, with or without notice, and is not required to provide any reason for doing so.
   9.2 Any termination of your access to the Website under any provision of these Terms may be effected without prior notice, and your account and all related information and files in your account may accordingly be deleted or deactivated, and/or further access to such files or the Services may be withheld. We shall not be liable to you or any third party for any action to which this 9.2 relates. Covercy needs to possess these rights in order to comply with its legal obligations in various countries in relation to combating financial crime, terrorist financing and money laundering activities, and it is confirmed that Covercy will not generally consider using the powers under this 9.2 for other purposes.
   9.3 We reserve the right, at any time and from time to time, temporarily or permanently, in whole or in part, to:
   9.3.1 modify or discontinue any or all of the Services, including, but not limited to
   9.3.1.1 restricting the times of day that the Services are available,
   9.3.1.2 restricting the amount of use of the Services permitted (to you or generally), and
   9.3.1.3 restricting or terminating any User’s right to use the Services, with or without notice;
   9.3.2 modify the basis upon which we charge the Fees in connection with the use of the Services;
   9.3.3 modify and/or waive any Fees charged in connection with the Services; and/or
   9.3.4 offer opportunities to some or all Users of the Services.
Neither we nor any of our affiliates shall be liable to you for any such modification, suspension or discontinuance of the Services or of any service, content or feature offered through the Website.
    9.4 We may revoke your registration privileges and/or take any other appropriate measures to enforce these Terms if we reasonably believe that you have acted in breach of your obligations under these Terms.
   9.5 If Covercy has Suspicion of Improper Activity in relation to your Registered User status, we will make contact with you using such device or means of contact as we have agreed with you as part of your registration process with Covercy, in order to alert you to our suspicions and indicate what if any remedial action we propose, or it is possible for us, to take in the circumstances. This is without prejudice to all other rights we have under 9.1 to 9.4 above, and to our rights or obligations (without notice to you) to inform appropriate law enforcement agencies.
10. Taxation
   10.1 Covercy shall withhold from payments otherwise due to you any amounts if so required by law to be withheld and accounted for in the form of any taxation or similar imposition.
   10.2 As a Registered User, you are responsible for ascertaining your personal tax status in relation to the Services and to pay any taxes associated with any Transaction that you instruct.
11. Fees, charges and third party costs
   11.1 For its Services, Covercy will charge you Fees as detailed in the Fees List. The Fees List may be updated from time to time, and will be republished on the Website. Covercy will use reasonable efforts to give Registered Users reasonable notice of any changes to the Fees List, but is not bound to provide any notice.
   11.2 You are solely responsible for all fees charged to you by your own bank in relation to your placement of Transactions.
   11.3 Covercy gives notice that it is not liable to meet any fees or costs in respect of any Recipient of funds to which any Transaction of your relates.
   11.4 Covercy’s responsibility is to remit the precise amount (of Source Currency or Target Currency, as the case may be) that you request in each Transfer Order that you place. However, intermediaries (such as correspondent banks) or the beneficiary bank may deduct their own charges from this amount. We will use our reasonable efforts to avoid these charges arising or being set against the amount that you wish to remit, failing which we will similarly use our reasonable efforts to ensure that such charges are disclosed in the Fees. However, it is not always possible for such charges to be determined in advance of the execution of a Transaction, and in such circumstances you agree for such charges to be netted off of the amount instructed for Transfer.
12. Copyright
   12.1 The Website and the content contained therein including the Website design, drawings, diagrams, illustrations, photographs, pictures, text, graphics, etc. (the “Information”) are protected by the copyright laws of the State of Israel, international treaties, and copyright laws in other countries.
   12.2 The Information is the property either of Covercy or of third parties that allow Covercy to publish the Information on the Website.
   12.3 You are not permitted to change, copy, publish, distribute, broadcast, present, photocopy, issue a license, produce derivative works, or sell any part of the Information without the prior written consent of Covercy. Nor may you make any commercial use of the Information or change or alter the Information or any part thereof. For avoidance of doubt, breach by you of this provision entitles Covercy:
   12.3.1 immediately and without notice to terminate these Terms; and
   12.3.2 to take such proceedings against you in the Applicable Jurisdiction (for damages, injunctive or other relief as the case may be).
13. Hyperlinks
   13.1 The Website may include hyperlinks to internet websites that are not operated by a Covercy Group entity. These hyperlinks are intended for the User’s convenience and interest only. Covercy has no control over the form, content or purposes for any third party internet websites and it is not responsible for any aspect thereof.
   13.2 The inclusion of hyperlinks to other websites does not attest to Covercy’s support of the content of those websites, nor any other connection to those websites or their operators. Covercy is not responsible for the proper functioning of the hyperlinks. Covercy in particular does not warrant that services or investments offered at such third party websites are suitable for your purposes. You progress to any such third party website entirely at your own risk.
   13.3 Covercy is entitled at its own discretion to remove any such hyperlink from the Website and/or add additional hyperlinks.
14. Limitation of Liability
   14.1 The information contained on the Website and the Services are provided “as-is”. Accordingly, Covercy, including its representatives, employees, directors, managers, shareholders, and/or agents will not be held liable for any damage (direct or indirect) that you suffer (or claim to suffer) as a consequence of using the Services or for any delay in or failure of the Services.
   14.2 The following provisions in this apply to the general informational content of the Website (as opposed to specific information provided for you to track the execution of your Transactions):
   14.2.1 While Covercy intends that all general information on the Website will be and remain correct and accurate, there is a possibility that general information is incomplete or not updated or rendered inaccurate through technical or other errors. Covercy will not be responsible for omissions, errors, lack of updates, or imprecision of the general information presented on the Website.
   14.2.2 General information contained in the Website is for general and informative purposes only and is not a recommendation, opinion or an offer to purchase any product or service of Covercy.
   14.2.3 Any reliance on figures, declarations, opinions, advice, or any other information presented as general information on the Website will be at your risk.
   14.2.4 General information that originates from third parties is believed by Covercy to be factually correct or to represent reasonably held opinions; but Covercy is not responsible for any such third party information in any respect. In the event of a discrepancy and/or contradiction between general information on the Website and the information specific to you and your use of the Services provided to you by Covercy or its employees, the latter shall prevail.
   14.3 You are solely responsible for the use that you make of the Website and the Services. Covercy is not liable to you for any malfunction, error, or omission of the Website and/or the Website’s content or for any delay in or failure of the Services due to any such malfunctions. Covercy is not responsible for any damage to your computer, communications or equipment of yours (or to any software present thereupon) resulting from your visiting or downloading from or uploading to the Website.
   14.4 Covercy is not responsible for any consequences of a disclosure of your personal information as provided to Covercy for the purposes of your Registered User status in the event that such information is unlawfully accessed by a third party through a “hacking” of Covercy’s systems.
   14.5 If we are unable to perform our obligations under these Terms because of Force Majeure, we will notify you as soon as is reasonably practicable and will use reasonable endeavors to secure the return of any money paid by you in respect of which we have been unable to discharge our obligations under these Terms. We will not have any liability to you where we are unable to perform our obligations.
   14.6 The provisions of 14.1 – 14.5 are qualified in their entirety:
   14.6.1 in circumstances where any such limitation or exclusion of liability is illegal, inadmissible or contrary to public policy in the Applicable Jurisdiction;
   14.6.2 where you suffer loss occasioned by Covercy’s fraud; or
   14.6.3 in relation to death or personal injury that results directly from actions taken or inaction of Covercy.
15. Indemnification and claims
   15.1 You agree to indemnify and hold Covercy and its shareholders, subsidiaries, affiliates, officers, agents, employees, co-branders or other partners, and licensors harmless from any claim or demand, including reasonable legal professional fees, due to or arising out of your use of the Website and the Services, your connection to the Website and the Services, any dealings between you and anyone else advertising or promoting via the Website or your breach of the Terms.
   15.2 Covercy has exclusive right to enforce an indemnity claim to which 15.1 relates.
   15.3 To the extent that any provision of these Terms or the law in the Applicable Jurisdiction provides you with a right to sue or seek other redress under these Terms, you agree that such claim for suit or redress shall be brought against Covercy only.
16. Privacy and Data Policy
  16.1 Covercy Europe is obliged directly to comply with GDPR, and Covercy Israel has chosen to abide by standards of data processing and privacy that correspond with those in GDPR.
   16.2 The GDPR-compliant data use and privacy policy in use within the Covercy Group is accordingly posted to the Website, and applies in relation to any and all use that we make of your personal data in providing the Services. You should consult this policy, which can be found at <this hyperlink>.
17. User Conduct
  17.1 You agree not to access or attempt to access the Website by any means other than the interface provided by Covercy or to circumvent any access or use restrictions put into place by Covercy to prevent certain uses of the Website.
  17.2 You agree to use the Website and Services in good faith and in accordance with these Terms and not to use, or to encourage others or permit others to use, the Website to:
   17.2.1 impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity;
   17.2.2 access or use the Website in any manner that could damage, disable, overburden, or impair any Covercy server or the networks connected to any Covercy server;
   17.2.3 interfere with or disrupt the Website or violate any laws related to the access to or use of the Website, violate any requirements, procedures, policies, or regulations of networks connected to the Website, or engage in any activity prohibited by these Terms;
   17.2.4 disrupt or interfere with the security of, or otherwise cause harm to, the Website, accounts, passwords, servers, or networks connected to or accessible through the Website or any affiliated or linked sites;
   17.2.5 disrupt, interfere with, or inhibit any other person (whether or not a Registered User) from using and enjoying the Website or other affiliated or linked sites, platforms, or content;
   17.2.6 reproduce, sell, trade, resell or exploit for any commercial purpose, any, use of the Website, or access to the Website;
   17.2.7 defraud, defame, or otherwise violate the legal rights (such as rights of privacy and publicity) of other persons using the Website;
   17.2.8 engage in any other conduct which, in Covercy’s sole discretion, is considered inappropriate, unauthorized or objectionable;
   17.2.9 use any automated methods or tools to crawl, robot, scrape, spider or otherwise monitor or extract data from any part of the Website (note that we may use robot exclusion headers within the Website and you agree to comply with any such headers);
   17.2.10 decipher, decompile, disassemble, reverse-engineer or otherwise attempt to derive any of the source code or underlying ideas or algorithms of any part of the Website, except to the limited extent that applicable laws specifically prohibit such restrictions;
   17.2.11 post or send any unauthorized or unsolicited advertising, promotional materials, marketing email or spam;
   17.2.12 forge any TCP/IP packet header or any part of the header information in any email or posting, or in any way use the Services, deceptive or false source-identifying information;
   17.2.13 mirror or frame any part of the Website on any other website;
   17.2.14 use any meta-tags or other hidden text or metadata containing any Covercy trademark, URL or product name without our express prior written permission;
   17.2.15 use any Covercy trademark, URL, product name or logo in any way that incorrectly suggests our affiliation with or endorsement of any person, entity, product or service; or use any other trademarks, service marks, trade dress, designs or logos that are confusingly similar to any Covercy trademark, product name or logo or to the look and feel of the Services; or
   17.2.16 assist or encourage any third party to do any of the above activities prohibited in 17.2.1 – 17.2.15or to otherwise violate any term of these Terms or any Covercy policy.
   17.3 In addition, you agree to comply will all applicable laws, regulations, and ordinances in the Applicable Jurisdiction as a condition of use of the Services and/or the Website.
  17.4 In order to permit us to protect the quality of our products and services, you hereby consent to our employees and representatives being able to access your account and records for any reason, in our sole discretion. We also reserve the right, but do not assume the responsibility, to monitor or review your conduct while using the Services and the Website.
   17.5 Your use of the Services and the Website is subject to all relevant laws and regulations in the Applicable Jurisdiction. Further, you acknowledge that you are responsible for obtaining or providing all access lines, telephone and computer equipment (including modem), or other devices, necessary to access the Website, and paying all charges related thereto.
   17.6 You agree not to use the Services for any unlawful activity and Covercy reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, Covercy reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data.
18. Third Party Services
   18.1 Covercy may engage third parties in order to deliver you the Services. By using the Services, you agree to be bound by any user agreements that such third parties have with Covercy. Covercy acts as agent of any such third party and has no liability for its actions or omissions.
19. Communications
   19.1 We are required to provide certain information to you in writing. By accepting these Terms, you agree that we can communicate with you electronically either by email or by posting notices on the Website.
   19.2 Please note that, regardless of which Covercy Group entity provides Services to you under these Terms:
   19.2.1 all communications provided to you will be in English; and
   19.2.2 you are required and expected to communicate with Covercy in English.
   19.3 Placement of instructions for Transactions shall be made only via the dedicated pages for this purpose on the Website.
   19.4 For any questions regarding the Terms, the Services or the Website, please contact us as follows: support@covercy.com
20. Entire Agreement and Amendments
   20.1 These Terms and any document expressly referred to in them constitute the whole agreement between us and supersedes any previous discussions, correspondence, arrangements or understandings between us (including previous versions of these Terms).
   20.2 Covercy reserves its right to amend these Terms at any time, in its absolute and exclusive discretion. You will be notified of any changes to these Terms prior to the changes coming into effect. If you do not wish to be bound by such amendment you must notify Covercy via the Website or via email, and such notification shall be treated by Covercy as equivalent to notice to terminate these Terms under 8 above.
21. Complaints and dispute resolution
   21.1 For the purposes of Registered Users for whom the Applicable Jurisdiction is the United Kingdom, the following provisions are framed in compliance with regulation 101 of the PSRs.
   21.2 If you have a complaint concerning the services of Covercy, please refer this to us in writing, in English, to complaints@covercy.com:
   21.3 Covercy accepts responsibility to all Registered Users for the timely investigation of all such complaints, and will normally provide a written response to you within 15 Business Days of receipt of full particulars of the complaint in question (other than where regulations 101(6) and (7) of the PSRs apply).
   21.4 Any Registered User in the United Kingdom are entitled to refer cases of dispute to the UK Financial Ombudsman Service, provided that he is classified according to FCA Rules as an “eligible complainant”, a term which usually is limited to natural persons. Further information on the scope of the jurisdiction of the Financial Ombudsman Service is given at Covercy’s website and can also be obtained from www.financial-ombudsman.org.uk. Please note that generally the Financial Ombudsman Service has a jurisdiction to make awards capped at £100,000.
   21.5 There is no statutory regime in the United Kingdom for resolution of disputes in the case of corporate or commercial Registered Users. In cases of dispute with corporate or commercial Registered Users (or individual Registered Users whose claim of loss or damage exceeds the jurisdictional cap of the Financial Ombudsman Service), Covercy Europe will be amenable to an independent form of dispute resolution, where a chartered accountant registered with the Institution for Chartered Accountants in England & Wales and nominated for the purpose by the president thereof will act as an independent expert, consider the dispute and make a determination that Covercy Europe and you will accept as final and binding in the absence of manifest error.
   21.6 If you are a Registered User contracting with Covercy Europe from outside the United Kingdom, or with Covercy Israel, the Covercy Group undertakes to provide access to dispute resolution mechanisms which:
   21.6.1 in the case of Covercy Europe, are broadly equivalent in the country or jurisdiction in question to that of the UK Financial Ombudsman Service; and
   21.6.2 in the case of Covercy Israel, are structured in a similar fashion to those described at 21.5 above, though with reference to a chartered accountant in Israel appointed by the president of [name of the Israeli accountancy regulator].