General Payment Services Agreement

1.1.This General Agreement sets out the rights and obligations of the Client and the Institution with regard to the Payment Services provided by the Institution. In addition to this General Agreement, the relationship between the Client and the Institution is governed by agreements concluded between the Client and the Institution, the Law on Payments of the Republic of Lithuania, the Law on Electronic Money and Electronic Money Institutions of the Republic of Lithuania and other applicable legal acts.

1.2.The present General Payment Services Agreement (the “General Agreement”) is concluded with company PAYMONT, UAB, legal entity code 305673740, with registered office at Gynėjų g. 14-65, Vilnius, Republic of Lithuania, data about the Institution is collected and stored in the Register of Legal Entities of the Republic of Lithuania (the “Institution”) and the Client.

1.3.The Client shall carefully read this General Agreement prior to concluding the Payment Account Agreement and using the Payment Services provided by the Institution. This General Agreement together with its Supplements defining certain risks arising when using the products and services provided by the Institution and provides instructions for the safe use of the Payment Services of the Institution.

1.4.The General Agreement determines the main terms and conditions between the Client and the Institution when the Client opens an Account and uses Services provided by the Institution.

1.5.The Client is responsible for the configuration of their information technology, computer programs and platform in order to access Institution´s Services, open an Account, and other.

1.6.Definitions of terms used in this General Agreement:

2.1.The Institution hereby undertakes to issue, hold and redeem Electronic Money, provide the Client with the opportunity to submit Payment Orders, manage funds in an Account and use other Payment Services. Unless otherwise specified in the Agreement, the Client, who has entered into this General Agreement, shall be entitled to use Payment Services provided by the Institution if the Institution permits such actions.

3.1.Before starting using the Payment Services, the Client shall register in the System and create a Profile or register for the use of Payment Services in person under the requirements set by the Institution. Client’s authentication and registration in the System shall be carried out in accordance with the requirements of the applicable legal acts. In order for the Client to be properly authenticated and logged in to the System, the Client may be requested to provide the login information known only to him (knowledge factor) or to provide additional code generated solely by the Client's own mobile device (possession factor) or to confirm any biological traits the Client has (inherence factor) each time when logging to the System.

3.2.Application for the Payment Account is allowed for natural persons who are at least 18 years of age or older if a higher minimum age limit is prescribed by applicable laws. The head of a legal entity or another representative of the Client who has the powers specified in legal acts and (or) other documents shall be entitled to apply for the Payment Account on behalf of the Client. By applying on behalf of the Client that is legal entity, the head or another representative of the Client confirms that they have been duly appointed and that the legal entity they represent is properly established and operating legally. The Client, the head of the Client that is legal entity or another representative of the Client shall properly identify themselves in accordance with the procedures set forth by the Institution by submitting the information and (or) documents specified and required by the Institution.

3.3.The prices of setting up and maintaining the Profile are specified in the Price List available in the System as well as on the website of the Institution. The prices may be set out in a special Supplement between the Institution and the Client which takes prevalence over the Price List.

3.4.The Client agrees with the provisions of the General Agreement by indicating it in the System and hereby the Client is considered familiar with the terms of this General Agreement and undertakes to comply with them. Upon the proper completion of all registration procedures in the System (i.e., the proper registration in the System), the General Agreement shall be deemed to have been concluded. The General Agreement may also be concluded in written form and signed by the Client and the Institution.

3.5.The Client ensures that only correct data about the Client and its representatives is provided to the Institution (especially during the application and onboarding procedure, any subsequent amendments or completions).

3.6.The Institution shall have the right to request from the Client any data and (or) documents necessary to identify the Client and (or) obtain material information about the Client for the proper provision of the Payment Services. The Institution shall have the right to ask the Client to perform the following actions and the Client shall perform such actions:

3.7.The Client undertakes to be deemed properly identified if he has been authenticated at the beginning of the communication session in accordance with General Agreement and other applicable Agreements and (or) legal acts.

3.8.The Client's login name, password and other Client’s authentication information (Means of Identification) shall be considered as confidential information and the Client (as well as their representatives) undertakes to protect such information, not to disclose it to any third party, and to notify the Institution immediately upon discovering or suspecting that third parties have gained access to such information.

3.9.The Client shall immediately notify the Institution about any changes in their details.

4.1.If a Client opens an Account using the Profile or a Client opens an Account in person in the presence of a representative of the Institution, the Account is opened for an indefinite period of time and functions under the procedure laid down in the General Agreement.

4.2.The Client is allowed to receive and keep funds in their Account, transfer the funds from the Account using different payment channels, exchange currency when making Payment Transactions and perform other related actions.

4.3.Funds held in the Client's Account are considered Electronic Money, which is issued by the Institution after the Client transfers funds to the Institution. Having received such funds, the Institution issues Electronic Money at the nominal value to the fiat currency (the nominal value of Electronic Money to be issued coincides with the nominal value of funds transferred to the Institution) and credits it into the Client’s Account in real time.

4.4.The Client hereby confirms their understanding that Electronic Money held in the Account is not a deposit. Therefore, the Institution is not obliged, in any circumstances, to pay any interest for the Electronic Money held in the Account and does not provide any other benefits associated with the time period the Electronic Money is stored.

4.5.The Electronic Money held in the Account shall be redeemed at their nominal value at any time at the request of the Client, except for cases, when the Institution applies limitations to the Account (such limitations shall be specified on the Client’s Profile in the System). The Client submits a request for redemption of Electronic Money by generating a Payment Order to transfer Electronic Money from the Account to any other account specified by the Client (an account of the Client opened with another payment service provider, or an account of a third person (Recipient) opened with another payment service provider). The amount of redeemed or transferred Electronic Money is chosen by the Client. The Institution initiates Client’s Electronic Money transfer to other account specified by the Client.

4.6.No specific conditions for the redemption of Electronic Money that would differ from the standard conditions for Payment Transactions performed in the Account shall be applied. In the event of redemption of Electronic Money, the Client pays the usual Commission Fee which depends on the Payment Transaction carried out by the Client.

4.7.When redemption of Electronic Money is requested by the Client on or up to one year after the date of the termination of the General Agreement, the total monetary value of the Electronic Money held by the Client shall be redeemed.

4.8.When redemption of Electronic Money is requested by the Client who is not a consumer, the different conditions may be set in separate Supplement.

5.1.In order to make Payment Transactions the Client shall authorize each Payment Transaction by giving a prior Consent. Generally, the Consent of the Client may be given by submitting a Payment Order:

5.2.To execute the Payment Transaction, the Institution has the right to determine the mandatory information that shall be submitted to the Institution. The Payment Order shall comply with the requirements established by the Institution, the Agreements concluded between the Institution and the Client and the legal requirements for the submission of the Payment Order and (or) its content. The Client’s Payment Order shall be worded clearly, unambiguously, executable, and it shall clearly express the will of the Client. The Institution is not liable for any errors, inconsistencies, repetitions and (or) contradictions contained in the Client’s Payment Order, including, but not limited to, the accuracy of the Client’s details.

5.3.The Payment Order is deemed received by the Institution (the countdown for the execution of such Payment Order begins) on the day it is received, and if the day of the receipt of the Payment Order is not a Business Day, it shall be presumed that the Payment Order has been received on the next Business Day. Other specific conditions, cut off times and deadlines for processing payment orders are set out in a separate Notification regarding processing of payments.

5.4.The Payment Order cannot be cancelled after the Institution has received it, except for the cases provided in the Agreement or applicable legal acts.

5.5.If the Payment Transaction has been initiated by the Recipient, via the Recipient or by a payment initiation service provider, the Payer cannot cancel the Payment Order after the Payment Order has been submitted for execution, the Payer has granted the payment initiation service provider the Consent to initiate the Payment Transaction or the Payer has granted the Recipient the Consent to perform the Payment Transaction.

5.6.Upon expiry of the term stipulated in the Clauses 5.3.-5.5. of the General Agreement, a Payment Order may be cancelled only in case the Client (Payer) and the Institution agree on it. In the cases stipulated in the Clause 5.5. of the General Agreement, the Consent of the Recipient is also necessary.

5.7.When a Payment Transaction is initiated by the Recipient or through the Recipient, and when the exact amount of the Payment Transaction is unknown at the time when the Payer gives the Consent to execute the Payment Transaction, the Institution may reserve the funds in the Payer’s Account only provided the Payer gives the Consent to reserve a specific amount. Upon receipt of the information on the exact amount of the Payment Transaction, the Institution shall immediately, and not later than immediately upon receipt of the Payment Order, remove the reservation from the Payer’s Account.

6.1.Prior to the execution of the Payment Transaction initiated by the Client the Institution shall provide the Client with information on the maximum execution time for the Payment Transaction, payable Commission Fee and indicate how the Commission Fee is distributed.

6.2.Before executing the Payment Order submitted by the Client, the Institution has the right to require the Client to provide documents proving the lawfulness of the origin of funds related to the Payment Order and (or) the circumstances related to the basis of such Payment Transaction. In case the Client fails to submit such documents, the Institution has the right to refuse to execute the Payment Transaction. The Client declares to comply with the lawfulness of the origin of funds related to the Payment Order by signing the Agreement.

6.3.The Institution has the right to involve third parties in executing a Payment Order of the Client partially or in full if the Client's interests and (or) the essence of the Payment Order require so. In cases where the Payment Order of the Client requires further processing and execution of the Payment Order through third-party financial institution and this institution suspends, delays, stops or makes an error during processing of the Client’s Payment Order, the Institution is not responsible and may not be liable for such actions of the third-party financial institution.

6.4.The Institution and the Client may agree on a limit of the Payment Transactions, which shall also be indicated in the Profile. The Institution has also the right to unilaterally, without the Client’s consent, impose limits on the Account, Payment Transactions and other Payment Services provided by the Institution.

6.5.The Institution has the right to refuse to execute the Payment Transaction in accordance with the Payment Order and to start the inspection of the Payment Transaction and funds intended to be used for such Payment Transaction if the Institution has any reasonable suspicions that the Payment Order and (or) the Payment Transaction may violate any Agreement between the Client and the Institution and (or) legal acts, or there is a reasonable suspicion that the Payment Order was not submitted by the Client or representative of the Client, illegal funds may be used for execution of the Payment Transaction, there are insufficient data or other deficiencies in the Payment Order, as well as in the case of failure of interbank and (or) other financial systems, other unusual market conditions, important technical or other grounds, or the risk associated with the execution of the Payment Transaction is too high and unacceptable to the Institution. The Institution does not undertake the responsibility for losses which may arise due to refusal to execute a submitted Payment Order.

6.6.The Institution has the right to record and store Payment Orders submitted by the Client and to record and store information about all Payment Transactions executed in accordance with the Payment Orders submitted by the Client. The Institution may provide the records referred to in this Clause to the Client and (or) those third persons who have a statutory basis to gain access to such data as evidence of the submitted Payment Orders and (or) executed Payment Transactions.

6.7.The Institution grants the possibility for the Client to use the funds received in the Account as soon as this amount is credited to the Institution’s account opened in a financial institution and the Institution receives all the information necessary for that, provided that the funds are received before the latest time for crediting funds if any is provided in this General Agreement or other documents.

6.8.The Client shall at least once a month check the information in the Profile about Payment Transactions executed and to inform the Institution in writing about any unauthorized or inappropriately executed Payment Transactions. The Client’s notification shall be submitted promptly, but not later than within 13 months from the day the Institution has executed the Payment Transaction which is indicated by the Client as unauthorized or improperly executed. In such case, the Institution shall return to the Client all funds debited as a result of unauthorized or inappropriately executed Payment Transaction. If the Client does not submit any such notifications by the specified time, the Client shall be deemed to have unconditionally agreed with the Payment Transactions executed.

6.9.The Institution, upon receipt of the Client's notification in accordance with Paragraph 6.10. or upon discovery of an unauthorized Payment Transaction, shall promptly and no later than at the end of the next Business Day, refund the amount of the unauthorized Payment Transaction to the Client and restore the balance of the Account from which the amount was subtracted to a state where the unauthorized Payment Transaction had not been performed, except cases where the Institution has reasonable grounds to suspect that fraud has occurred. This does not apply in cases under this General Agreement where the Client is responsible for the unauthorised Payment Transaction.

6.10.The Institution has the right, but is not obliged, to verify whether the Unique Identifier provided in the Payment Order corresponds to the Recipient’s number of the payment account opened within another financial services provider (IBAN). If the Institution performs the abovementioned verification and discovers a mismatch between the Unique Identifier provided by the Client and the data specified in this Clause of the General Agreement, the Institution shall have the right not to execute such Payment Transaction. In this case, the Client will be informed in an appropriate form about the non-executed Payment Transaction and the reason for the rejection of the Payment Order.

6.11.If the Client specifies the Unique Identifier of the Recipient for the execution of a Payment Order, such Payment Order shall be deemed to be a duly executed with such Unique Identifier. In the event when the Recipient's Unique Identifier specified by the Client is incorrect, the Institution shall not be liable for the non-execution or defective execution of the Payment Transaction, but shall use its best efforts to trace the Payment Transaction and seek to recover the funds from the Payment Transaction. When no refund is possible, the Institution will, upon Client's request, provide the Client with any information that is relevant to the Client so that he could take appropriate legal actions.

6.12.In all cases, for the execution of the Payment Order, the Institution shall be able to identify at least the account number of the Recipient (Unique Identifier of the Recipient). If necessary and (or) required by the authorities of another state, the Institution shall have the right to determine additional information that shall be provided to the Institution for the proper execution of the Payment Transaction.

6.13.Payment Transactions where the funds are covered by the Overdraft Facility are executed in accordance with the terms of this General Agreement unless otherwise provided in the Overdraft agreement concluded between the Client and the Institution.

6.14.The Institution has the right to debit the funds incorrectly credited to the Client’s Account. If the Account does not have enough funds to debit the incorrectly credited funds, the Client undertakes, without any reservation, to return to the Institution the funds credited incorrectly within 3 (three) Business Days from the day the Institution’s request is received.

6.15.The Client (the Payer), who is a consumer, has a right to receive back from the Institution the full amount of an authorized and already executed Payment Transaction initiated by the Recipient or via the Recipient, provided that all following conditions are met:

6.16.The client, who is not a consumer, has no right to receive back from the Institution the amount of an authorized and already executed Payment Transaction initiated by the Recipient or via the Recipient under Clause 6.17.

6.17.The Client (the Payer), who is a consumer, has no right to receive back the amount of Payment Transactions initiated by the Recipient or via the Recipient according to the Clause 6.17., if the Client (the Payer) has given the Institution Consent to execute the Payment Transaction and where applicable, the information about the future Payment Transaction was provided or made available in an agreed manner to the Payer for at least four weeks before the due date by the Institution or by the Recipient.

6.18.The Institution, upon receipt of an application for refund of the Payment Transaction according to the Clause 6.17., shall refund the full amount within 10 (ten) Business Days or indicate the reasons for which it refuses to refund it, and if the Client (the Payer) is a consumer, the Institution shall specify the procedure for appeal of such refusal.

6.19.If the amount specified in the Payment Order is refunded due to reasons beyond the control of the Institution, the amount to be refunded shall be credited to the Client’s Account or another account specified by the Client. Fees paid by the Client for the execution of the Payment Order are not returned to the Client, and the fees and expenses of the Institution related to the refund of money may be debited from the Client’s Account.

6.20.All information on Electronic Money and Payment Transactions, their data, terms of execution, fees, etc. is available to the Client at any time, except for temporary System maintenance, by logging into the System on Client’s Profile. By logging into the System, the Client may also receive an Account Statement with this information.

6.21.Other specific conditions, cut off times and deadlines for processing payment orders are set out in a separate Notification regarding processing of payments.

7.1.If the Client suspects that their Account or any personalized security features are being lost, used without their authorization, stolen, or otherwise compromised, the Client must contact the Institution immediately and make all necessary acts, except the change of password in the System. Any undue delays in notifying the Institution may affect the security of the Client Account and result in the Client being responsible for financial losses.

7.2.The Institution shall reserve the right to restrict or suspend access to the Client Account temporary or permanently if it is required for security reasons. The Client may be informed of such restriction.

7.3.For Security reasons the Client has no right to unilaterally authorize third parties the access to the System or to initiate Payment Transactions from the Client’s Account, without consent of the Institution.

7.4.If the Client thinks there may be financial harm caused to the funds held in their Account due to a Payment Transaction that the Client did not authorize, the Client must inform the Institution immediately (no later than one calendar day) as soon as the Client notices such event. The Institution is prepared to use all available methods to investigate and (or) suspend the Payment transaction and (or) return the funds to the Client Account. The Institution shall not be liable for any losses of the Client’s funds that resulted from fraud or the Client´s negligence.

7.5.If the Institution is aware of any security breaches, the Institution will contact the Client within the shortest possible time, complying with specific security and regulatory requirements.

7.6.If the Client does not follow the instructions of security and authorization indicated in the Agreement, the Client shall be responsible for any and all lost funds and damages in relation thereto.

8.1.The Client has the right to terminate the General Agreement unilaterally, notifying the Institution thereof in writing 30 (thirty) calendar days in advance. If the Client terminates the General Agreement, the total monetary value of Electronic money is returned to the Client by their chosen means (indicated in the Agreement), in accordance with the limits of Payment Transfers specified in the General Agreement.

8.2.The Institution has the right to terminate the General Agreement and its Supplements unilaterally and refuse to provide Services without indicating the reason, notifying the Client thereof 2 months in advance.

8.3.In case of the termination of the General Agreement, the Institution deducts funds from the Client Account in the amount payable for Services provided to the Client by the Institution as well as fines, forfeits, losses, and other amounts paid to third parties or the state, which the Institution has incurred due to the actions of the Client. The Institution shall unilaterally set off all claims against the Client. In case the amount of funds in the Client Account is insufficient to cover all payable amounts specified in this clause, the Client undertakes to transfer the provided amounts to their Account within 3 (three) Business Days. In case the Institution regains a part of amounts paid to third parties, the Institution undertakes to return the regained amounts to the Client immediately.

8.4.The termination of the General Agreement does not exempt the Client from appropriate execution of all liabilities to the Institution that were applicable towards the Client before the termination. The beneficial owner and shareholder of the Client are surety for these liabilities under the terms of applicable law.

8.5.After the termination of the General Agreement between the Institution and the Client, the monetary value of Electronic Money in the Client Account shall be returned to the bank account from which the Client transferred the funds to the Account or in a manner pursuant to a special arrangement between the Institution and the Client. In case the identification level of the Client does not comply with the level necessary to return all total monetary value of Electronic Money, the Client shall choose another identification level and perform the required actions to change the identification level. The Client agrees to perform the actions necessary to redeem Electronic Money and understands that by such means, the Institution aims to reduce the risk of fraud and seeks to comply with anti-money laundering and other legal requirements.

8.6.In case, after the termination of the General Agreement between the Institution and the Client, the Client does not choose means for Electronic Money redemption and (or) does not complete an additional identification procedure for increasing the limits, the Institution may (but is not obligated to) redeem the Electronic Money of the Client by the means of Electronic Money redemption, that is available at the moment of redemption.

9.1.The Client undertakes to protect and not disclose to third parties any passwords or other personalized security features (Means of Identification) created, provided to the Client or used by the Client under this General Agreement and to prevent other persons from using the Payment Services on behalf of the Client. The Client undertakes to share this requirement and apply it to all of its representatives who have or will have access to the Client's Account in the future. If the Client fails to comply with the obligation referred to in this Clause, the Client assumes full liability for the resulting losses and undertakes to award damages to any injured persons, and the Institution is entitled to demand a payment of a contractual penalty in the amount of up to 5 000 EUR.

9.2.If the Client or its representative loses the password, other Means of Identification or any Means of Identification becomes disclosed to third persons through no fault of the Client or the Institution or if there is or may be a real risk of unauthorized access to the Client's Account, the Client or its representative shall immediately change the respective password (if possible) or notify the Institution immediately (but no later than within one calendar day). The Institution shall not be liable for any consequences arrising from the Client‘s failure to do so.

9.3.The Institution shall immediately suspend access to the Client's Account and Payment Services upon receipt of the Client's notice according to Clause 9.2. until new Means of Identification is provided / created.

9.4.The Client is informed that the Institution is a controller of Personal Data of the Client (and (or) representatives or employees of the Client). Such Personal Data of the Client (and (or) representatives or employees of the Client) received by the Institution shall be processed for the proper performance of the Agreement. More information about the processing of Personal Data of the Client (and (or) representatives or employees of the Client) can be found in the Privacy Policy of the Institution (published on Institution’s webpage).

9.5.The Client is informed that the Institution may send direct marketing messages to the Client by e-mail providing the Client with relevant information about other (related) Services provided by the Institution and all entities consolidated under the Institution´s group holding. The Client may opt-out of these messages at any time (in advance or at any time thereafter) by clicking the appropriate link on the direct marketing message received or by notifying the Institution by e-mail (support@paymont.eu).

9.6.The Client agrees that the Institution will use and process Personal Data of natural persons in its possession provided by the Client or third parties for the purpose of performing the Agreement, improving the quality of Services, debt management and other purposes.

9.7.By signing this General Agreement, the Client confirms that they have become familiar with the Institution’s Privacy Policy.

9.8.The Institution will comply with the terms of the Privacy Policy and the General Data Protection Regulation (EU) 2016/679 while performing Agreement. The Institution guarantees the security of Personal Data received while performing this Agreement.

9.9.The Client agrees that the Institution shall transfer the Client´s and the persons closely connected to the Client (natural persons) Personal Data to partners (data processors), payment service providers and other third parties to exercise the Institution’s and (or) the Client’s rights and obligations under the Agreement. The Client confirms that they have the right to give such consent to the Institution.

9.10.The Client agrees not to disclose the existence or contents of the Agreement to any third party without the prior written consent of the Institution except: (i) to their advisors, attorneys or auditors who have a legal need to know such information, (ii) as required by law or court order (e.g. law enforcement institutions, state authorities, financial institutions, etc.).

9.11.The Institution has the right to transmit all collected important information about the Client and their activity to other law enforcement institutions, state authorities (State Tax Inspectorate (VMI), Social Insurance Fund (SODRA)), and other financial institutions, if such duty is determined by the legislation and in order to identify whether the Agreement and relevant legislation have not been or will not be violated.

9.12.The Client agrees that the Institution is entitled to record telephone conversations with the Client representatives in accordance with the law. Any data transferred via e-mail, post and other telecommunication instruments may be considered evidence in resolving disputes between the Parties.

10.1.The Client using the Institution Services is prohibited from:

11.1.The Client using the Institution Services commits:

11.2.The Institution shall be entitled:

12.1.The Institution has the right to unilaterally amend and (or) change the conditions of the Agreement. The Institution notifies the Client at least 2 (two) months before the date of the change or the amendment comes into effect.

12.2.The Client has no right to unilaterally change and (or) amend the conditions of the Agreement.

12.3.The Client has the right to disagree with the amendments or changes prior to the suggested effective date, notifying the Institution thereof in advance. If the Client fails to notify the Institution about their disagreement, it shall be deemed that the Client accepts the amendments or changes, and the amendments or changes shall enter into force on the specified day of their entry into force. If the Client informs the Institution about their disagreement with the amendments or changes, the Client thereby terminates the Agreement on the day immediately preceding the date on which the amendments or changes were to be effective.

12.4.Where an amendment to the Agreement is required by law or relates to the addition of a new Service, extra functionality of the System, or any other change that neither reduces the Client’s rights nor increases the Client’s responsibilities, the amendment may be made without prior notice to the Client and shall be effective immediately.

12.5.Supplements to the Agreement are amended according to the procedure laid down in the respective Supplement. If no amendment procedure is laid down in the Supplement, the procedure for the amendment and the procedure for informing about the amendment stated in this General Agreement shall apply.

12.6.The Parties may agree on additional conditions which are not provided in the Agreement or the Supplements, or other conditions which are not stated in the Agreement or Supplement, by a separate written agreement. Such agreement shall become an integral part of the Agreement. Upon a request from the Client, a draft agreement shall be prepared by the Institution and sent to the Client by fax or e-mail (the agreement may also be concluded in the form of a declaration). If the Client agrees with the draft provided, the Client shall sign the draft and send back a scanned copy of the document to the Institution by fax or e-mail. The Institution has the right to require the Client to send the agreement by post with the original signature of the Client. Such agreement shall enter into force after the signed agreement has been sent to the Institution, i.e. the signature of the Institution on the agreement is not required and the Institution is not obliged to send the signed agreement back to the Client.

12.7.Any amendments and Supplements shall be deemed to be an integral part of the Agreement and shall have the same legal power as the Agreement and, in the event of conflict, shall prevail over the General Agreement.

13.1.The Institution, at its own discretion and without any explicit reason and taking into consideration a specific situation, giving preference to execution of legal acts applied to the activity of the Institution, and interests of the Client, has the right to unilaterally and without prior notice suspend the Payment Services. The Payment Services may be suspended especially if:

13.2.The Institution will lift the suspension and (or) the restriction as soon as practicable after the reasons for the suspension and (or) restriction are no longer applicable.

13.3.The Institution is not liable for losses incurred by the Client due to suspension of service provision, blockage of the Account and (or) Payment Instrument, or other actions, if those actions have been performed in accordance with the procedures stated in the Agreement or its Supplements and under circumstances on the basis specified in the mentioned documents.

14.1.Each Party shall be liable for any damage incurred by the other Party as a result of a breach of the Agreement by defaulting Party. The defaulting Party undertakes to compensate the injured Party for the loss suffered as a result of the breach of the Agreement. The liability of the Institution under the Agreement shall in all cases be governed by the following:

14.2.The Institution does not ensure uninterrupted operation of the System, as many factors beyond the control of the Institution may affect (interrupt) the operation of the System. The Institution shall endeavour to ensure the smoothest possible operation of the System, however, the Institution shall not be liable for any consequences of a malfunction of the System if such failures are not attributable to the Institution (for the sake of clarity, the Institution shall not be liable for, inter alia, data center, internet supply, cloud frame interruptions, etc.).

14.3.The Institution shall not be found liable for:

14.4.The defaulting Party shall be released from liability for non-performance of the Agreement if it proves that the Agreement has not been performed due to force majeure circumstances as it is provided by law. The defaulting Party shall inform the injured Party about the force majeure circumstances.

14.5.In the event of a reasonable suspicion that money laundering, terrorist financing, or other criminal activity is being perpetrated through the Client or the Account of the Client, the Institution has the right to partially or completely suspend provision of Payment Services to the Client for a period of 30 (thirty) calendar days with the right to extend it to an unlimited period of time until the suspicion is fully refuted or confirmed.

14.6.The Client may bear all their losses that have arisen due to unauthorized Payment Order if these losses have been incurred due to the use of lost, stolen or illegally misappropriated security details (incl. personalized security features, etc.) of the Client. If the Client is a consumer, he may bear losses for the amount of up to 50 (fifty) euro.

14.7.The Client shall bear all their losses related to unauthorized Payment Orders if the Client has suffered a loss due to their own misconduct or gross negligence or wilful misconduct when using the Services and (or) did not report the loss, theft or misappropriation of the security details to the Institution.

14.8.The Client is liable for any direct and indirect damages and losses caused to the Institution due to a breach of the Agreement or legislation or good faith.

14.9.The Institution is entitled to demand payment of a contractual penalty in the amount of up to 5 000 EUR for each breach of the Agreement.

15.1.The Institution strives to resolve any and all claims and disputes with Clients in a peaceful, prompt and mutually acceptable manner. Therefore, in all situations, the Client is encouraged to contact the Institution first so arising complaints and disputes could be resolved amicably by negotiation.

15.2.Disputes between the Client and the Institution shall be resolved as follows:

15.3.If the Client is a consumer, he has the right to receive information on the activities of the Supervisory Authority, submit a proposal, express an opinion or submit a request/complaint to the Supervisory Authority. The request/complaint may be provided to the Supervisory Authority by electronic means of communication with identity verification or without identity verification; by filling in the Consumer Application Form or a free-form application and sending it to the Supervisory Authority (Žalgirio St. 90, LT-09303 Vilnius, Lithuania, e-mail frpt@lb.lt or Totorių St. 4, LT-01121 Vilnius, Lithuania, info@lb.lt). More information about provision of request/complaints could be found here: https://www.lb.lt/lt/kontaktai#group-464.

15.4.Clients who have reasonable suspicions that the Institution’s activities violate applicable financial market legislation, the Client’s rights or legitimate interests shall have the right to complain to the Supervisory Authority (Bank of Lithuania). Written complaints to the Supervisory Authority (Bank of Lithuania) shall be submitted to the Bank of Lithuania with the following requisites: Totorių St. 4, LT-01121 Vilnius, Lithuania, e-mail info@lb.lt or Žalgirio St. 90, LT-09303 Vilnius, Lithuania, e-mail frpt@lb.lt.

15.5.More information on the possibility to file complaints with the Bank of Lithuania is available here: https://www.lb.lt/en/our-contacts#group-1608.

16.1.This General Agreement is concluded between the Institution and the Client.

16.2.The Agreement shall be governed by the legislation of the Republic of Lithuania. Any dispute arising out of or in connection with the Agreement shall be referred by a relevant court of Lithuania.

16.3.The General Agreement is always concluded by the signing of the Payment Account Agreement by the Client. The Agreement is concluded for an indefinite period of time. The General Agreement shall enter into force and become valid for an indefinite period of time at a time determined by the Institution.

16.4.The Institution shall unilaterally set off all of the Institution´s claims to all claims of the Client to the Institution. The Client has no right to set off the claims of the Client to the Institution´s claims.

16.5.The Institution shall communicate with the Client via e-mail, in the System (website), post service or any standard method of communication. The Client shall communicate with the Institution via registered e-mail, in the System (website) or post service.

16.6.Notices, information or documents submitted by the Client are deemed received by the Institution when the Institution confirms to the Client that the relevant notice, information or document has been received. All notices, information or documents shall be deemed to have been delivered to the Client on the third day following their sending by the Institution.

16.7.The Parties hereby agree that the language of the Agreement shall be English.

16.8.The Parties confirm that they are entitled to execute the General Agreement. They have read the text of the General Agreement before signing it, they are aware of the terms and conditions laid down herein, their contractual duties and entered into the General Agreement voluntarily.

16.9.The Client does not have the right to assign their rights and obligations arising out of the Agreement to third parties without a prior written consent from the Institution. The Institution reserves the right to assign its rights and obligations arising out of the Agreement to third parties at any time without a consent from the Client.

16.10.If any provision of the Agreement becomes invalid, other provisions of the Agreement remain in force.