Common use of Limitations on the Receipt of Funds Clause in Contracts

Limitations on the Receipt of Funds. 5.1. The Portal is intended to contain a list of the countries into which We are able to send Invoices on Your behalf and also the available currencies. While We make reasonable efforts to manage this listing, We do not warrant that this listing is current or accurate at all times. 5.2. In some circumstances, We may not be able to collect from a country or in a currency notwithstanding what has been set out onthe Portal, or We may be prohibited from dealing with a particular Payer as set out in Clause 3.3.5 of this Schedule. We hereby reserve Our right to bring this limitation or restriction to Your attention after the Receivables Contract has been entered without incurring any liability on Our part, and as such Our ability to fulfil the Receivables Contract is conditional on Us being able to receive funds froma proposed Payer or from a Payer’s country or denominated in a specific currency from the time the Receivables Contract is entered until the funds from the Payer have been received by Us. 5.3. In some countries there are regulatory or export restrictions on the frequency and value of funds that can be remitted from that country at one time in a single transaction. TransferMate continually monitors these restrictions and makes reasonable efforts to notify You prior to entering the Receivables Transaction where the limit may impact on Our ability to perform the Receivables Contract. However where We are prevented by such restriction from performing the Receivables Contract, We shall have no liability to You for any loss or damage You may incur as a result. We shall notify You of the restriction and offer You the option to cancel the Receivables Transaction or amend the amount being sought. It is always Your obligation to be aware of the Applicable Law and restrictions attaching to the remittance of funds from the Payer and the Payer’s country of residence.