TERMS AND CONDITIONS
These Terms Of Use apply to the entire contents of the PaytoStudy Website and to any correspondence by e-mail between us (The Interpay Limited, and its subsidiary undertaking trading as 'PaytoStudy', incorporated and registered in Ireland with a company number 368136 whose registered office is IDA Business & Technology Park, Ring Road, Kilkenny, Ireland; referred to in these conditions as "PaytoStudy") and you the "Client/User". Please read these Terms of Use carefully before using the PaytoStudy. Using the Service Platform indicates that you accept these terms and foreign exchange Transactions using the Transaction Service are legally binding contracts. If you do not accept these Terms of Use, you will not be entitled to use the Transaction Service.
1. Introduction
1.1 Access to the Transaction Service is restricted to PaytoStudy approved and registered Users.
1.2 By accessing any part of the Website or Transaction Service, you will be deemed to have accepted these terms in full.
1.3 PaytoStudy grants you a limited license to access the Transaction Service which is in accordance with these terms.
1.4 PaytoStudy may revise these terms at any time by updating this posting from time to time in its sole discretion and without notice to you. You must review these terms periodically to ensure familiarity. Your continued use of the Transaction Service following any modification of these terms will constitute acceptance of such modifications. These changes will be effective and binding when they appear on the Website. Certain provisions of these terms may be superseded by expressly designated legal notices or terms located on particular pages on the Website.
2. Registration, Security & Fees
2.1 Each account User's registration is for that single User only. PaytoStudy does not permit the registered User to share and the registered user agrees not to share their username and password with any other person nor with multiple users on a network.
2.2 Upon opening a trading account, each user will be required to select a username and a password. The password must contain at least 8 characters and must contain both letters and numbers. Passwords are not case sensitive.
2.3 Upon logging into the Client's account, the username and the corresponding password will be requested, access will be granted to you and PaytoStudy will not be required to take any further steps to verify that the person accessing the Client account is the correct Client or that the person accessing the account is authorised to perform roles assigned by the administrator. By accepting these terms you are confirming that you have all necessary authority to use the Transaction Service.
2.4 If you forget your password, you must contact PaytoStudy and upon satisfactory completion of verification procedures PaytoStudy will issue a new password via email.
2.5 You have a responsibility to exercise reasonable care to prevent unauthorised access to the computer that you use to access the Transaction Service. You must not leave the computer unattended while you are online to the PaytoStudy.
2.6 In order to protect the security of the Client trading account the User must:
2.6.1 Never give the username and/or password to anyone else and must not write the password down anywhere.
2.6.2 Change the password regularly.
2.6.3 Watch out for fraudulent (or 'phishing') e-mails that claim to be from PaytoStudy that ask for personal information or security details. Never send personal details or accounts or passwords in an email. If the Client suspects a phishing attack, they must call PaytoStudy or alternatively forward the suspect e-mail to.
2.7 You represent and warrant that you have implemented and plan to operate and maintain appropriate protection in relation to the security and control of computer viruses, or other similar harmful devices, and you will not transmit to in any way whether directly or indirectly or expose PaytoStudy's Website or Transaction Service to any harmful material or device.
2.8 You represent and warrant that you will maintain a firewall on your computer to protect it from unauthorised access.
2.9 Online Transactions are subject to a minimum and maximum transaction value determined by PaytoStudy, who reserves the right to request further information before accepting any Transaction.
3. Privacy Policy
3.1 PaytoStudy collects and retains information about you that PaytoStudy believes is necessary in accordance with its Privacy Policy to help administer business between PaytoStudy and you and to keep you updated on improvements to PaytoStudy's products and services and to provide you with other relevant information. PaytoStudy collects two types of information:
3.2 Personal information is collected to meet both internal and external compliance requirements, and to enable PaytoStudy to open a foreign exchange trading account for you and to be in a position to commence business. Traffic pattern information is used to monitor pages accessed or visited and enables PaytoStudy to better meet the requirements and needs of our clients. Transactional information reflects the business you enter into with PaytoStudy and provides a historical record of business activity which is necessary as a means of monitoring and mitigating money laundering and terrorist financing and also enabling PaytoStudy to keep up to date with your foreign exchange needs.
3.3 You accept that your information may be shared between PaytoStudy's associated companies for the provision of foreign exchange services.
3.4 PaytoStudy does not sell, publish or freely give away personal or transactional information. Your personal information is treated strictly in accordance with the governing law and in particular to comply with the requirements of the Data Protection Acts 1988-2003 and regulations made thereunder.
3.5 PaytoStudy is bound to abide by Anti-Money Laundering legislation and will deal with such activity as outlined in the PaytoStudy Anti-Money Laundering Policy and assist all statutory authorities in investigations of suspicious activity.
4. Service access
4.1 While PaytoStudy endeavours to ensure that the Website is normally available 24 hours a day and its Transaction Service is available during its usual trading hours or such hours as displayed on the Website, PaytoStudy will not be liable if for any reason the Website is unavailable at any given time. PaytoStudy agrees to use reasonable efforts to give advanced notice of any scheduled interruption.
4.2 PaytoStudy is dependent on other external suppliers of services (i.e., web hosting, hardware supply and support, remote back-up and disk mirroring) in providing the PaytoStudy to you and you recognize that PaytoStudy can only rely on those suppliers pursuant to their individual terms and conditions and service level agreements but PaytoStudy will not however be responsible for any loss of any nature caused to you as a result of difficulties with any of the PaytoStudy suppliers.
5. Risks, Cancellation Policy and Telephone Contracts
5.1 You agree to use the Transaction Service at your own risk.
5.2 PaytoStudy recommends that you seek prior independent financial advice and consider carefully whether entering into specific foreign exchange Transactions is appropriate in terms of the your experience, financial objectives, needs and circumstances.
5.3 There are risks associated with utilising the Transaction Service including, but not limited to, the failure of hardware, software, and internet connections.
5.4 Each foreign exchange Transaction Contract undertaken by you using the Transaction Service is an individual Contract made between you and PaytoStudy, and is not transferable, negotiable or assignable to or with any third party.
5.5 Upon your selecting the 'Finish Transaction' button after making a foreign exchange Transaction, a legally binding Contract is formed between you and PaytoStudy. In the event of your having selected 'Finish Transaction' in error you must contact PaytoStudy immediately requesting the Contract to be cancelled and any loss arising on such cancellation will be charged to you and payable by you.
6. Intellectual Property and Limited Licence
6.1 You are permitted to print and download extracts from the Transaction Service for the Client's own use on the following basis:
6.1.1 No documents or related graphics on the Transaction Service are modified in any way.
6.1.2 No graphics on the Transaction Service are used separately from the corresponding text; and
6.1.3 PaytoStudy's copyright and trade mark notices appear in all copies.
6.2 The names, images and logos identifying PaytoStudy, their products and services, are proprietary marks of PaytoStudy. You acknowledge and agree that the content including without limitation the text, graphics, photographs or other material presented on the Transaction Service is protected by copyright, trademark, patents and other proprietary rights and laws. You are only to use the contents as authorised by PaytoStudy. For the purposes of these terms, any use of extracts from the Transaction Service other than in accordance with clause 6.1 for any purpose, is prohibited. Breach of these terms will result in immediate termination of your trading account whereby you must on request from PaytoStudy immediately destroy any downloaded or printed extracts from the Transaction Service.
6.3 Subject to clause 6.1, no part of the Transaction Service may be reproduced or stored in any other website or included in any public or private electronic retrieval system or service without PaytoStudy's prior written permission.
6.4 Derivative use of the Transaction Service is prohibited, including any use of data mining, robots or similar data gathering, reverse engineering and extraction tools with the intent of damaging the Transaction Service.
6.5 Any unauthorised use will terminate this license granted by PaytoStudy's. This license is conditioned on your continued compliance with these terms and any rights not expressly granted in these terms are reserved.
7. Disclaimer
7.1 None of the information contained in the Transaction Service constitutes, nor should be construed as foreign exchange advice.
7.2While PaytoStudy endeavours to ensure that the information on the Transaction Service is correct, PaytoStudy does not warrant the accuracy and completeness of the material on the Transaction Service. PaytoStudy may make changes to the material on the Website or Transaction Service, or to the products and prices described in it, at any time without notice. The material on the Website or Transaction Service may be out of date, and PaytoStudy makes no commitment to update such material.
7.3The material on the Transaction Service is provided "as is", without any conditions, warranties or other terms of any kind either expressed or implied. Accordingly, to the maximum extent permitted by law, PaytoStudy provides the Transaction Service on the basis that PaytoStudy excludes all representations, warranties, conditions and other terms (including, without limitation) the conditions implied by law of satisfactory quality, fitness for purpose and the use of reasonable care and skill which, but for this legal notice, might have effect in relation to the Transaction Service.
8. Liability
8.1 PaytoStudy, any other party (whether or not involved in creating, producing, maintaining or delivering the Website), and any of PaytoStudy's officers, directors, employees, shareholders or agents of any of them, exclude all liability and responsibility for any amount or kind of loss or damage that may result to your or a third party (including without limitation, any direct, indirect, punitive or consequential loss or damages, or any loss of income, profits, goodwill, data, contracts, or other loss or damages) arising from or connected in any way to business interruption, and whether in tort, contract or otherwise in connection with the Transaction Service in any way or in connection with the use, inability to use or the results of use of the Website, any websites linked to the Website or the material on such websites, including but not limited to loss or damage due to viruses that may infect your computer equipment, software, data or other property on account of your access to, use of, or browsing the Website or downloading of any material from the Website or any websites linked to the Website.
8.2 Nothing in these Terms will exclude or limit PaytoStudy's liability for;
8.2.1 death or personal injury caused by negligence, or
8.2.2 fraud; or
8.2.3 misrepresentation as to a fundamental matter; or
8.2.4 any liability which cannot be excluded or limited under applicable law.
8.3 If your use of material on the Transaction Service results in the need for servicing, repair or correction of equipment, software or data, you assume all costs thereof.
8.4 PaytoStudy is entitled to assume that all Transactions made using your username and password are authorised by you. PaytoStudy's will not be liable in any way for any direct, indirect or consequential loss suffered by you as a result of;
8.4.1 any Transaction conducted using the your username and password; or
8.4.2 any suspension, withdrawal or termination of your access to PaytoStudy; or
8.4.3 interruptions to the PaytoStudy.
8.5 You indemnify and hold PaytoStudy's harmless against any and all loss suffered by PaytoStudy, which may result from your misuse of PaytoStudy or breach of these terms.
8.6 Access to the Website or Transaction Service may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for reasons beyond PaytoStudy's control and PaytoStudy will incur no liability.
9. Market Information
9.1 PaytoStudy make available market information services generated internally containing, but not limited to financial market data, rates, news, charts or data. Market information provided on this Website or in email format is not intended as foreign exchange advice.
9.2 PaytoStudy does not guarantee the accuracy, timelessness, completeness or correct sequencing of the market information. PaytoStudy reserves the right to discontinue offering market information at any time without notice.
10.Cancellation of Client Access
10.1 PaytoStudy may suspend or withdraw your access to the Transaction Service at any time without prior notice if:
10.1.1 you have breached these terms or have acted fraudulently.
10.1.2 PaytoStudy learns; (a) of your death, bankruptcy or lack of legal capacity; or (b) that you have committed an act of bankruptcy or that a bankruptcy petition has been presented against you; or (c) if the Client is a company, that a liquidator or receiver has been appointed in respect of the Client's assets.
10.1.3 PaytoStudy otherwise deems such suspension or withdrawal necessary or appropriate, in its sole discretion.
10.2 You may cancel the User's access to the PaytoStudy Transaction Account at any time by giving PaytoStudy written notice. You will remain responsible for any Transactions made on your account through the Transaction Service up until access to your account is actually disabled.
10.3 Transactions in respect of which you have given PaytoStudy instructions and which are to be made after your access to the PaytoStudy Transaction Service is terminated or suspended will not be effected.
11. Governing law and jurisdiction
11.1 These Terms of Use and any disputes arising out of or related to the Transaction Service are governed by and interpreted by the laws of Ireland, and each party hereto irrevocably submits to the exclusive jurisdiction of the courts of Ireland. This is the case regardless of whether you reside or transact business with PaytoStudy elsewhere in the world.
11.2 Without limiting the foregoing, you acknowledge and understand that laws regarding foreign exchange contracts vary throughout the world, and it is your obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency with regards to the use of the Transaction Service. For avoidance of doubt, the ability to access to the PaytoStudy does not necessarily mean that the services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residence.
12. Brazilian Users
12.1 Regulation in Brazil states that this account can only be utilized for student course payments. A letter of offer from the education institution for each student must be submitted.
12.2 According to Article 60 of Law n. 12.249/10 the Brazilian Government requires a 15% tax to be applied to all international transfers over BRL 20,000 made in a calendar month. It is the student's responsibility to advise PaytoStudy of any additional international transfers made in a calendar month. Failure to do so will mean that the student will be held responsible for any investigation and costs incurred as a result.
13. Client Funds
All funds are held in trust for you, in "client accounts" at reputable credit institutions. If PaytoStudy, after making its best effort, cannot for what ever reason, make a lawful payment requested by you, it will return the funds to the originating account only. If PaytoStudy were to become insolvent, it has no rights to your funds.
These Terms Of Use apply to the entire contents of the PaytoStudy Website and to any correspondence by e-mail between us (The Interpay Limited, and its subsidiary undertaking trading as 'PaytoStudy', incorporated and registered in Ireland with a company number 368136 whose registered office is IDA Business & Technology Park, Ring Road, Kilkenny, Ireland; referred to in these conditions as "PaytoStudy") and you the "Client/User". Please read these Terms of Use carefully before using the PaytoStudy. Using the Service Platform indicates that you accept these terms and foreign exchange Transactions using the Transaction Service are legally binding contracts. If you do not accept these Terms of Use, you will not be entitled to use the Transaction Service.
1. Introduction
1.1 Access to the Transaction Service is restricted to PaytoStudy approved and registered Users.
1.2 By accessing any part of the Website or Transaction Service, you will be deemed to have accepted these terms in full.
1.3 PaytoStudy grants you a limited license to access the Transaction Service which is in accordance with these terms.
1.4 PaytoStudy may revise these terms at any time by updating this posting from time to time in its sole discretion and without notice to you. You must review these terms periodically to ensure familiarity. Your continued use of the Transaction Service following any modification of these terms will constitute acceptance of such modifications. These changes will be effective and binding when they appear on the Website. Certain provisions of these terms may be superseded by expressly designated legal notices or terms located on particular pages on the Website.
2. Registration, Security & Fees
2.1 Each account User's registration is for that single User only. PaytoStudy does not permit the registered User to share and the registered user agrees not to share their username and password with any other person nor with multiple users on a network.
2.2 Upon opening a trading account, each user will be required to select a username and a password. The password must contain at least 8 characters and must contain both letters and numbers. Passwords are not case sensitive.
2.3 Upon logging into the Client's account, the username and the corresponding password will be requested, access will be granted to you and PaytoStudy will not be required to take any further steps to verify that the person accessing the Client account is the correct Client or that the person accessing the account is authorised to perform roles assigned by the administrator. By accepting these terms you are confirming that you have all necessary authority to use the Transaction Service.
2.4 If you forget your password, you must contact PaytoStudy and upon satisfactory completion of verification procedures PaytoStudy will issue a new password via email.
2.5 You have a responsibility to exercise reasonable care to prevent unauthorised access to the computer that you use to access the Transaction Service. You must not leave the computer unattended while you are online to the PaytoStudy.
2.6 In order to protect the security of the Client trading account the User must:
2.6.1 Never give the username and/or password to anyone else and must not write the password down anywhere.
2.6.2 Change the password regularly.
2.6.3 Watch out for fraudulent (or 'phishing') e-mails that claim to be from PaytoStudy that ask for personal information or security details. Never send personal details or accounts or passwords in an email. If the Client suspects a phishing attack, they must call PaytoStudy or alternatively forward the suspect e-mail to.
2.7 You represent and warrant that you have implemented and plan to operate and maintain appropriate protection in relation to the security and control of computer viruses, or other similar harmful devices, and you will not transmit to in any way whether directly or indirectly or expose PaytoStudy's Website or Transaction Service to any harmful material or device.
2.8 You represent and warrant that you will maintain a firewall on your computer to protect it from unauthorised access.
2.9 Online Transactions are subject to a minimum and maximum transaction value determined by PaytoStudy, who reserves the right to request further information before accepting any Transaction.
3. Privacy Policy
3.1 PaytoStudy collects and retains information about you that PaytoStudy believes is necessary in accordance with its Privacy Policy to help administer business between PaytoStudy and you and to keep you updated on improvements to PaytoStudy's products and services and to provide you with other relevant information. PaytoStudy collects two types of information:
- Personal information such as names, addresses, email addresses, copies of photographic identification, incorporation documents etc.
- Traffic pattern information and transactional information on the Transaction Service.
3.2 Personal information is collected to meet both internal and external compliance requirements, and to enable PaytoStudy to open a foreign exchange trading account for you and to be in a position to commence business. Traffic pattern information is used to monitor pages accessed or visited and enables PaytoStudy to better meet the requirements and needs of our clients. Transactional information reflects the business you enter into with PaytoStudy and provides a historical record of business activity which is necessary as a means of monitoring and mitigating money laundering and terrorist financing and also enabling PaytoStudy to keep up to date with your foreign exchange needs.
3.3 You accept that your information may be shared between PaytoStudy's associated companies for the provision of foreign exchange services.
3.4 PaytoStudy does not sell, publish or freely give away personal or transactional information. Your personal information is treated strictly in accordance with the governing law and in particular to comply with the requirements of the Data Protection Acts 1988-2003 and regulations made thereunder.
3.5 PaytoStudy is bound to abide by Anti-Money Laundering legislation and will deal with such activity as outlined in the PaytoStudy Anti-Money Laundering Policy and assist all statutory authorities in investigations of suspicious activity.
4. Service access
4.1 While PaytoStudy endeavours to ensure that the Website is normally available 24 hours a day and its Transaction Service is available during its usual trading hours or such hours as displayed on the Website, PaytoStudy will not be liable if for any reason the Website is unavailable at any given time. PaytoStudy agrees to use reasonable efforts to give advanced notice of any scheduled interruption.
4.2 PaytoStudy is dependent on other external suppliers of services (i.e., web hosting, hardware supply and support, remote back-up and disk mirroring) in providing the PaytoStudy to you and you recognize that PaytoStudy can only rely on those suppliers pursuant to their individual terms and conditions and service level agreements but PaytoStudy will not however be responsible for any loss of any nature caused to you as a result of difficulties with any of the PaytoStudy suppliers.
5. Risks, Cancellation Policy and Telephone Contracts
5.1 You agree to use the Transaction Service at your own risk.
5.2 PaytoStudy recommends that you seek prior independent financial advice and consider carefully whether entering into specific foreign exchange Transactions is appropriate in terms of the your experience, financial objectives, needs and circumstances.
5.3 There are risks associated with utilising the Transaction Service including, but not limited to, the failure of hardware, software, and internet connections.
5.4 Each foreign exchange Transaction Contract undertaken by you using the Transaction Service is an individual Contract made between you and PaytoStudy, and is not transferable, negotiable or assignable to or with any third party.
5.5 Upon your selecting the 'Finish Transaction' button after making a foreign exchange Transaction, a legally binding Contract is formed between you and PaytoStudy. In the event of your having selected 'Finish Transaction' in error you must contact PaytoStudy immediately requesting the Contract to be cancelled and any loss arising on such cancellation will be charged to you and payable by you.
6. Intellectual Property and Limited Licence
6.1 You are permitted to print and download extracts from the Transaction Service for the Client's own use on the following basis:
6.1.1 No documents or related graphics on the Transaction Service are modified in any way.
6.1.2 No graphics on the Transaction Service are used separately from the corresponding text; and
6.1.3 PaytoStudy's copyright and trade mark notices appear in all copies.
6.2 The names, images and logos identifying PaytoStudy, their products and services, are proprietary marks of PaytoStudy. You acknowledge and agree that the content including without limitation the text, graphics, photographs or other material presented on the Transaction Service is protected by copyright, trademark, patents and other proprietary rights and laws. You are only to use the contents as authorised by PaytoStudy. For the purposes of these terms, any use of extracts from the Transaction Service other than in accordance with clause 6.1 for any purpose, is prohibited. Breach of these terms will result in immediate termination of your trading account whereby you must on request from PaytoStudy immediately destroy any downloaded or printed extracts from the Transaction Service.
6.3 Subject to clause 6.1, no part of the Transaction Service may be reproduced or stored in any other website or included in any public or private electronic retrieval system or service without PaytoStudy's prior written permission.
6.4 Derivative use of the Transaction Service is prohibited, including any use of data mining, robots or similar data gathering, reverse engineering and extraction tools with the intent of damaging the Transaction Service.
6.5 Any unauthorised use will terminate this license granted by PaytoStudy's. This license is conditioned on your continued compliance with these terms and any rights not expressly granted in these terms are reserved.
7. Disclaimer
7.1 None of the information contained in the Transaction Service constitutes, nor should be construed as foreign exchange advice.
7.2While PaytoStudy endeavours to ensure that the information on the Transaction Service is correct, PaytoStudy does not warrant the accuracy and completeness of the material on the Transaction Service. PaytoStudy may make changes to the material on the Website or Transaction Service, or to the products and prices described in it, at any time without notice. The material on the Website or Transaction Service may be out of date, and PaytoStudy makes no commitment to update such material.
7.3The material on the Transaction Service is provided "as is", without any conditions, warranties or other terms of any kind either expressed or implied. Accordingly, to the maximum extent permitted by law, PaytoStudy provides the Transaction Service on the basis that PaytoStudy excludes all representations, warranties, conditions and other terms (including, without limitation) the conditions implied by law of satisfactory quality, fitness for purpose and the use of reasonable care and skill which, but for this legal notice, might have effect in relation to the Transaction Service.
8. Liability
8.1 PaytoStudy, any other party (whether or not involved in creating, producing, maintaining or delivering the Website), and any of PaytoStudy's officers, directors, employees, shareholders or agents of any of them, exclude all liability and responsibility for any amount or kind of loss or damage that may result to your or a third party (including without limitation, any direct, indirect, punitive or consequential loss or damages, or any loss of income, profits, goodwill, data, contracts, or other loss or damages) arising from or connected in any way to business interruption, and whether in tort, contract or otherwise in connection with the Transaction Service in any way or in connection with the use, inability to use or the results of use of the Website, any websites linked to the Website or the material on such websites, including but not limited to loss or damage due to viruses that may infect your computer equipment, software, data or other property on account of your access to, use of, or browsing the Website or downloading of any material from the Website or any websites linked to the Website.
8.2 Nothing in these Terms will exclude or limit PaytoStudy's liability for;
8.2.1 death or personal injury caused by negligence, or
8.2.2 fraud; or
8.2.3 misrepresentation as to a fundamental matter; or
8.2.4 any liability which cannot be excluded or limited under applicable law.
8.3 If your use of material on the Transaction Service results in the need for servicing, repair or correction of equipment, software or data, you assume all costs thereof.
8.4 PaytoStudy is entitled to assume that all Transactions made using your username and password are authorised by you. PaytoStudy's will not be liable in any way for any direct, indirect or consequential loss suffered by you as a result of;
8.4.1 any Transaction conducted using the your username and password; or
8.4.2 any suspension, withdrawal or termination of your access to PaytoStudy; or
8.4.3 interruptions to the PaytoStudy.
8.5 You indemnify and hold PaytoStudy's harmless against any and all loss suffered by PaytoStudy, which may result from your misuse of PaytoStudy or breach of these terms.
8.6 Access to the Website or Transaction Service may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for reasons beyond PaytoStudy's control and PaytoStudy will incur no liability.
9. Market Information
9.1 PaytoStudy make available market information services generated internally containing, but not limited to financial market data, rates, news, charts or data. Market information provided on this Website or in email format is not intended as foreign exchange advice.
9.2 PaytoStudy does not guarantee the accuracy, timelessness, completeness or correct sequencing of the market information. PaytoStudy reserves the right to discontinue offering market information at any time without notice.
10.Cancellation of Client Access
10.1 PaytoStudy may suspend or withdraw your access to the Transaction Service at any time without prior notice if:
10.1.1 you have breached these terms or have acted fraudulently.
10.1.2 PaytoStudy learns; (a) of your death, bankruptcy or lack of legal capacity; or (b) that you have committed an act of bankruptcy or that a bankruptcy petition has been presented against you; or (c) if the Client is a company, that a liquidator or receiver has been appointed in respect of the Client's assets.
10.1.3 PaytoStudy otherwise deems such suspension or withdrawal necessary or appropriate, in its sole discretion.
10.2 You may cancel the User's access to the PaytoStudy Transaction Account at any time by giving PaytoStudy written notice. You will remain responsible for any Transactions made on your account through the Transaction Service up until access to your account is actually disabled.
10.3 Transactions in respect of which you have given PaytoStudy instructions and which are to be made after your access to the PaytoStudy Transaction Service is terminated or suspended will not be effected.
11. Governing law and jurisdiction
11.1 These Terms of Use and any disputes arising out of or related to the Transaction Service are governed by and interpreted by the laws of Ireland, and each party hereto irrevocably submits to the exclusive jurisdiction of the courts of Ireland. This is the case regardless of whether you reside or transact business with PaytoStudy elsewhere in the world.
11.2 Without limiting the foregoing, you acknowledge and understand that laws regarding foreign exchange contracts vary throughout the world, and it is your obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency with regards to the use of the Transaction Service. For avoidance of doubt, the ability to access to the PaytoStudy does not necessarily mean that the services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residence.
12. Brazilian Users
12.1 Regulation in Brazil states that this account can only be utilized for student course payments. A letter of offer from the education institution for each student must be submitted.
12.2 According to Article 60 of Law n. 12.249/10 the Brazilian Government requires a 15% tax to be applied to all international transfers over BRL 20,000 made in a calendar month. It is the student's responsibility to advise PaytoStudy of any additional international transfers made in a calendar month. Failure to do so will mean that the student will be held responsible for any investigation and costs incurred as a result.
13. Client Funds
All funds are held in trust for you, in "client accounts" at reputable credit institutions. If PaytoStudy, after making its best effort, cannot for what ever reason, make a lawful payment requested by you, it will return the funds to the originating account only. If PaytoStudy were to become insolvent, it has no rights to your funds.