1.1. ” Business Day ” means a day on which the banks in both the Source Currency’s issuing country and the Target Currency’s issuing country are open.
1.3. ” Covercy Account ” means Covercy’s bank account, the details of which are provided to you for the purpose of executing the Transaction.
1.4. ” Credit Card ” means any credit card, debit card, or other applicable payment methods as may be indicated on the Website.
1.5. “Days” means calendar days.
1.6. “Deposit” means the transfer of the necessary amount in Source Currency to the Covercy Account in order to execute the Transfer Order and to cover the applicable Fees.
1.7. ” Fixed Source Transaction ” has the meaning given in Section 4.1 ii.
1.8. ” Fixed Target Transaction ” has the meaning given in Section 4.1 i.
1.9. “Fees” means those amounts stated in the Fees List, or the fees presented to you on the Website in the course of submitting the Transfer Order, which shall supersede those in the Fee List.
1.10. ” Fees List ” means the list of Fees located at www.covercy.com/pricing.
1.11. “Force Majeure” means events or causes including, but not limited to, the following: an act of God, war (whether declared or not), sabotage, riot, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, flood, cyclone, earthquake, landslide, explosion, power or water shortage, failure of a transmission or communication network, epidemic, quarantine, strike or other labor difficulty or expropriation, restriction, prohibition, law, regulation, decree or other legally enforceable order of a government agency, breakage or accident, change of International or State law or regulation or any damage of Covercy’s machinery or systems or technical and other malfunctions (such as, but not limited to, viruses, worms, Trojan horses, problems and/or disruptions in the operation of telecommunications lines and of remote control equipment, and the like), which might have an impact on the operation of the Website or the provision of the Services, which Covercy has no control and is unable to predict or foresee.
1.12. “Recipient ” means the person to whom a Transaction is sent.
1.13. ” Registered User ” means a User who has completed the registration process and has an active account with Covercy.
1.14. ” Restricted Territories ” shall mean the following countries: Afghanistan, Algeria, Iran, Palestinian Authority, the Gaza Strip, Libya, United Arab Emirates, Malaysia, Morocco, Sudan, Somalia, Pakistan, Tunisia, Lebanon, Egypt, Syria, Sadia Arabia, the Kingdom of Jordan, Iraq, Yemen, and any additional jurisdictions blocked by Covercy at its sole discretion. This list may be amended by Covercy, at its sole discretion, from time to time.
1.15. “Services” means all money transfer services and related products available through the Website(s).
1.16. ” Source Currency ” means the type of currency Deposited into the Covercy Account.
1.17. ” Target Currency ” means the type of currency into which the Source Currency is converted and transferred to the Recipient.
1.18. “Terms” means these Terms including all subsequent amendments.
1.19. “Transaction” means the execution of the Transfer Order.
1.20. ” Transfer Flow ” means all the Transfer Order details presented on the Website at the time you submit the Transfer Order.
1.21. ” Transfer Order ” means an instruction validly made by you to Covercy requesting the execution of an exchange of money from Source Currency into a Target Currency and its transfer to a recipient’s bank account.
1.22. “User,” “you” or “your” means you and any other person or entity entering into these Terms with us or using the Service.
1.23. “Website(s)” means any URL, such as Covercy.com, owned and operated by Covercy that we use to provide the Services to you.