TorFX EU partner terms & conditions

Our EU services are provided by Currencies Direct Spain, EDE, S.L. as outlined in these terms and conditions.

Definitions

In this Agreement, the following words shall have the following meanings:

'Foreign Currency Transaction(s)' shall mean any foreign exchange transaction entered into on behalf of a client.

'active' means partner has referred a qualifying customer within the last 365 days;

'margin' means the profit made by Currencies Direct on any completed currency transactions, net of costs.

'effective introduction(s)' means any introduction of a new, qualified customer by the Partner to Currencies Direct that Currencies Direct does not already have on its Database.

'profit' means the sterling equivalent of (i) the Group’s revenue (amount of currency purchased by the Qualifying Customer under a Qualifying Trade less the cost of that currency to Currencies Direct), less (ii) any costs, expenses and fees incurred by Currencies Direct (as determined by Currencies Direct in its absolute discretion and without being required to produce evidence thereof) in acquiring and delivering the currency together with any associated services; provided however that where the Profit yields a number less than zero, the Profit will be deemed to be zero;

'The Company' or “Currencies Direct” means Currencies Direct Spain, EDE, S.L., Avenida del Mediterráneo, 341, 04638 Mojácar, Almería. Registered in Spain under N.I.F.: B04897930. Currencies Direct Spain is authorised by the Bank of Spain (“BoS”) as an Electronic Money Institution under Law 21/2011 of 26 July on electronic money. Our BoS Firm Code number is 6716.

Conditions

 You, the partner, have conducted a thorough search in the money transfer marketplace and have chosen Currencies Direct not only for commission payments, but instead/also for the value we add to your clients’ experiences.

  1. Currencies Direct will pay a percentage of turnover, ‘profit’ or a combination of both to the introducing ‘active’ partner, as per this agreement. Any payments made by Currencies Direct to the Introducer pursuant to this Agreement shall be inclusive of all applicable taxes (including, without limitation, value added tax). The Introducer acknowledges that it shall be responsible for paying all associated taxes and national insurance contributions and making any other necessary deductions in relation to payments received from Currencies Direct under this Agreement for itself and its personnel.

The recipient is responsible for accounting for and paying any taxes to the relevant authorities, including (but not limited to) income tax, VAT and other local taxes, and by signing this agreement you confirm that these obligations have been met and will be met in respect of all payments made to you by Currencies Direct.

For the avoidance of doubt, Currencies Direct does not condone tax evasion and has a zero tolerance policy in relation to the facilitation of tax evasion.

  1. Where the introducing partner introduces a second tier introducing partner at a lesser commission rate they will receive the differential between the two rates on the second tier customers' trading. This payment will also be paid inclusive of applicable taxes, as per point 2 above.
  2. Currencies Direct agrees to keep true and accurate records and books of accounts containing all data necessary for the determination of the initial and ongoing commissions.
  3. It is a general duty on Currencies Direct to act at all times in good faith towards the partner.
  4. The parties expressly agree that should any provision contained in this Agreement be held to be invalid under any applicable rule of law it shall to that extent be deemed omitted but the remainder of this Agreement shall continue in full force and effect.
  5. This Agreement shall be governed in every particular including formation and interpretation in accordance with the Laws of England and Wales and will be subject to the jurisdiction of the Courts of England in respect of any proceedings arising out of or in connection with this Agreement.
  6. The partner has read, understood and agrees to be bound by the Currencies Direct Partner Content Terms in their entirety at all times. Failure to adhere to the terms will result in termination of this partner agreement. On the termination of this agreement for any reason the introducing partner agrees to return, remove, or delete all information and or content referring to, supplied by or on behalf of Currencies Direct.
  7. Currencies Direct reserves the right to change the terms of this agreement in which event the partner will be notified in writing.

Currencies Direct Partner Content Terms

The following terms must be followed by all partners of Currencies Direct as confirmed in the Currencies Direct partner agreement.

Independence of the parties

The relationship between Currencies Direct and the partner arising from these conditions is a relationship between independent contracting parties. The parties acknowledge that these terms and conditions do not create any type of employment, corporate, agency or franchise relationship, factual or at law, between the parties. The parties may not act or appear before third parties as if it were the case. Consequently, the partner will not be entitled under any circumstances to receive compensation for the clientele contributed to Currencies Direct in the development of this agreement.

Branding

You must respect the intellectual property rights of Currencies Direct. These rights include, among others, trademarks and service marks, copyright and related rights, trade names and domain names, patents and utility models, rights to goodwill or to use in passing off and rights in confidential information owned by or licensed to Currencies Direct (“Currencies Direct Intellectual Property Rights”).

Logos

The Currencies Direct logo may only be used with prior express written permission from a Currencies Direct representative following Current Direct’s instructions. Any unauthorised alteration to the Currencies Direct logo is strictly prohibited.

Partners must not use third party logos to promote Currencies Direct without prior express written permission from a Currencies Direct representative.

Bank of Spain (BoS) – Partners are strictly not permitted to promote Currencies Direct with the use of the BoS logo under any circumstances. However, partners may refer to Currencies Direct’s regulatory status using the following wording only: “Currencies Direct Spain, EDE, S.L. is authorised by the Bank of Spain as an Electronic Money Institution under Law 21/2011 of 26 July on electronic money. Our BoS Firm Code number is 6716.”

Offline Marketing

All advertising or editorial design released by a partner which incorporates information regarding Currencies Direct must have written approval from a Director of Currencies Direct prior to publication.

Email Marketing

If you wish, you may, with the prior written consent of Currencies Direct, send direct marketing emails promoting the Currencies Direct business to an opt-in subscription email list, but only where the customer has provided a valid consent for you to specifically market Currencies Direct products and services to them.

This consent would need to meet the same criteria as ‘Consent to Contact’ below. Prior to sending any such promotional email, a copy of such email must be sent to Currencies Direct for approval by a Currencies Direct representative. It must be clear that any such email promotion has been sent by the partner and does not state or imply that the email is from Currencies Direct.

You shall ensure that any emails you send promoting Currencies Direct shall contain an unsubscribe link.

Consent To Contact (Referrals)

New EU data privacy regulations (the GDPR) mean that we are allowed to accept a referral from you only if the person you are referring (‘the referee’) has given their consent, either verbally or in writing, for you to pass their details to us. If you pass to us (or anyone else) details of people who have not given their consent, then you are breaking EU law and we are not permitted to contact the referee.

When you identify someone you would like to refer to us, you must ask them the following question, either verbally, in writing or by email:

‘Would it be okay for me to share your name and contact details with Currencies Direct so they can contact you about their money transfer service?’[1]

We will ask the client to confirm this consent whenever we contact a client referred by you. Only if the referee confirms they gave consent will we be able to continue the conversation.

From time-to-time we may ask you to provide tangible evidence that referees have provided consent. Note that the standard for recording verbal consent is for you to keep a log of meetings where consent was captured, including the names of those present, the date, time and place.

Repeated referee rejections may indicate that referrals are unsafe and result in suspension or termination of the affiliate relationship.

Data protection and information society services indemnity

You must comply with all data protection and information society services and e-commerce applicable obligations when sending these direct marketing emails so that Currencies Direct is allowed to process the personal data with the purposes detailed in this policy without the need of complying with any further data protection obligation. You will indemnify Currencies Direct from and against any damages, liabilities, expenses, claims, fines and losses of any type, without limitation, in connection with your failure to comply with the abovementioned obligations and with the applicable data protection and information society services and e-commerce regulations.

Privacy Policy

Currencies Direct handles any personal data you provide to us in accordance with our Privacy Policy. Please review the Policy and contact us if you have any questions about it.

Personal data

Personal data of the legal representatives of this Agreement or of other persons (such as the employees) who act in the name of Currencies Direct or the partner, as well as any other personal data in connection with which the receiving party becomes the data controller, will be processed by the other party to carry out, manage and monitor the contractual relationship and to comply with their legal obligations. The processing of these data is required and the legal bases of this processing are (i) the execution and development of the contractual relationship, (ii) the legitimate interest to process personal data of the partner’s employees by Currencies Direct in order to manage and execute the contractual relationship, and (iii) to comply with legal duties.

Personal data will be processed whilst the Agreement is in force and, after this, for six years, or, exceptionally, for the period during which any kind of liability may arise from a legal or contractual obligation applicable to Currencies Direct and the partner.

With regard to the processing for which Currencies Direct and the partner is responsible, the data subjects may exercise their right of access, rights to rectification, erasure, objection, data portability, restriction of processing and any other right recognised by the applicable regulations from time to time, by sending a request to dataprotection@torfx.com, attaching a copy of the ID card or any other document that proves identity. Data subjects may file any claim or request related to their data protection rights with the relevant Data Protection Authority.

Before Currencies Direct or the partner discloses to the other any personal data of third parties, the disclosing party must previously inform the data subjects of the content of the preceding paragraphs and comply with any other mandatory requirements that may be applicable for the lawful disclosure of the data to the receiving party, so that the latter is not obliged to carry out any additional act vis-à-vis the data subjects.

Online Content

Currencies Direct operate a strict policy for online content.

Your website should not:

  1. a) Promote illegal activities, violence, discrimination based on race, sex, sexual orientation, age, religion, nationality or disability or display any information or material which harasses, annoys or disrupts any third party, is unlawful, threatening, abusive, defamatory, obscene, vulgar, pornographic, profane or indecent or infringes the rights of any other person.
  2. b) Under any circumstances duplicate or create any kind of links to content from the Currencies Direct news site (www.CurrenciesDirect.com/news). This includes the duplication of page titles, blog post titles and imagery.
  3. c) Currencies Direct Partners are not permitted to use Currencies Direct’s brand name as part of a domain or in a website URL, this includes misspellings and variations. Example: www.currenciesdirectnews.com.
  4. d) Operate so as to transmit or send viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation to any person.
  5. e) Use or in any way duplicate or link to any content obtained directly from any of the Currencies Direct’s websites[2] (“Currency Direct Websites”). Partners are encouraged to create their own unique content to improve SEO and customer experience.
  6. f) Copy or resemble the "look and feel" or layout of the Currencies Direct Websites, including the colours and structure used in the Currencies Direct Websites, or otherwise represent to users that your website is representing the Company and/or the Currencies Direct Business.
  7. g) Misrepresent or embellish the relationship between themselves and the company Currencies Direct.

You should ensure that your website complies with all terms and conditions, and guidelines issued by Currencies Direct including those contained in this document.

You shall be solely responsible for the development, operation, and maintenance of your website and for all materials and links that appear on your website.

Any content used by Currencies Direct Partners to promote Currencies Direct must first be approved in writing by a Currencies Direct representative prior to publication in any form. Under no circumstances can the content appear online without approval from Currencies Direct.

Unauthorised copying or re-wording of or linking to the content from any Currencies Direct Websites is strictly prohibited. The Intellectual Property Rights of this content is owned by Currencies Direct Ltd. Any unauthorised copying or re-wording or linking of the Currencies Direct Websites will constitute an infringement of Currencies Direct Intellectual Property Rights and may result in termination of the partner agreement as described below, as well as in the judicial or extrajudicial claim of any damages suffered by Currencies Direct from such infringement.

Currencies Direct may in its sole discretion monitor Partner’s websites and shall notify you of any aspect of your website that the Company reasonably considers to be unacceptable with respect to the partner agreement and the Currencies Direct Partner Content Terms. On notification of such an infringement you agree to change your website to remove any such unacceptable content as soon as reasonably practicable and in any event, no later than 7 days after being notified by the Company. Failure to do so may result in termination of the partner agreement as described below.

Currencies Direct may provide the partner with content for publication on the partner’s website(s). Content may include (but will not be limited to) market commentary, editorial design and copy, promotional copy, images, tools, widgets and data feeds. All rights content provided by Currencies Direct to partners for publication on the partner’s website(s) remains the Intellectual Property of Currencies Direct and must be removed from the partner’s website(s) if requested by Currencies Direct in its sole discretion, and in any case upon termination of the partner agreement by either party as per the partner agreement.

Cookie Period

Currencies Direct employs Cookies to monitor each user’s activity on the Currencies Direct Websites. Each Cookie shall be valid for a period of 30 Days. You will find further information in our Cookies Policy.[3]

Natural Search

Partners should not optimise to appear above CurrenciesDirect.com in natural search listings for brand keywords.

Social Media

If you operate within social environments you must communicate under your partner name so there is clarity that you are not passing yourself off as Currencies Direct and so customers understand you operate separately to Currencies Direct.

Pay-per-click / Paid Search (“PPC”) Restrictions

You shall not without the prior written consent from Currencies Direct: a) Engage in any PPC advertising where such advertisements include any trade mark owned by Currencies Direct or its Group or any brand terms, brand permutations and misspellings.
b) Use Vanity URL’s which include any trade mark owned by Currencies Direct or its Group or any brand terms, brand permutations and misspellings.

You shall:

a) Use reasonable endeavours to ensure that your advertisement does not appear above any advertisement of Currencies Direct that appears in response to the same search term.
b) Not copy any element of any PPC search-listing text used by Currencies Direct.
c) Perform negative match checks on Currencies Direct brand terms unless otherwise given permission.

Brand Guidelines

You shall display your own trade mark (word and/or logo) prominently on your website and shall ensure that a customer browsing your website is given enough information to convey the message that your website is not operated by or on behalf of Currencies Direct, including and particularly any page where you capture details that you will send to us under the affiliate scheme.

You shall ensure that any written statement promoting Currencies Direct displayed on your website is written from a third party perspective. By way of example only, you should not use terms such as “our services” in respect of Currencies Direct services.

Intellectual Property

Currencies Direct grants its partners a non-exclusive, royalty-free, revocable and non-transferable licence to use and display for the duration of the Partner Agreement the trade marks and content owned by Currencies Direct (“Currencies Direct Trade Marks” and “Currencies Direct Content”) on your website solely for the purpose of promoting Currencies Direct and creating links to the Currencies Direct Website following Currencies Direct’s instruction, provided that such promotion of Currencies Direct by you is in accordance with the terms and conditions of the Partner Agreement and the Currencies Direct Partner Content Terms.

Nothing in this document shall grant to you any right to use any of the Currencies Direct Trade Marks as part of your corporate or trading name or any of your domain names, and you undertake not to do so or to otherwise to hold yourself out as being an agent of Currencies Direct.

You acknowledge that all content on the Currencies Direct Website is proprietary to or licensed by Currencies Direct and may not be reproduced, modified, transmitted, displayed, published or distributed without the prior written consent of Currencies Direct. You shall comply with these terms at all times.

Noncompliance of the terms of this clause will constitute an infringement of Currencies Direct’s Intellectual Property Rights and may result in termination of the Partner Agreement as described below, as well as in the judicial or extrajudicial claim of any damages or losses caused to Currencies Direct and derived from such infringement.

Any other infringement by the partner of Currencies Direct Intellectual Property Rights will cause the termination of the Partner Agreement by Currencies Direct as described below, as well as the eventual judicial or extrajudicial claim of any damages or loses suffered by Currencies Direct from such infringement.

Furthermore, the partner undertakes to indemnify and hold harmless Currencies Direct from any damages or losses, claims, demands, costs and expenses of any nature arising from or relating to any claim brought against Currencies Direct deriving from any infringement by Currencies Direct of any third party rights or the applicable legislation to intellectual property.

The Whole Agreement

Currencies Direct shall be entitled to perform ad hoc checks from time to time of Partner Websites to ensure that they are complying with all the terms of this Agreement.

Infringement of any of these terms may result in suspension of the partner from the partner agreement in which case the partner will forfeit any outstanding commission that would otherwise be due to the partner at the date of termination and any future commissions otherwise accruing.

If for any reason the partner agreement is terminated by either party, the partner agrees to remove all content provided to the partner by Currencies Direct from its website(s) within 7 days of the notice to terminate the Partner Agreement being delivered by either party to the other.

For more information, or further clarification on whether your activity would contravene any of the above Terms and Conditions please contact partners@currenciesdirect.com

The partners must comply with all applicable laws and regulations in connection with the services provided under this agreement, including having all required permits and authorisations. Currencies Direct will not be liable for the breach of any of the legal obligations of the partners and the partners will indemnify Currencies Direct from and against any damages, liabilities, expenses, claims, fines and losses of any type, without limitation, in connection with your failure to comply with any applicable regulations.