a. EXIM Exchange Company (Canada) Limited applies charges in accordance with its
existing published tariff.
b. If you choose to have charges deducted from the remittance amount, the Bank will
remit the net amount to the beneficiary. If you choose not to have charges deducted
from the remittance amount, the Bank will add the charges to the amount you wish
to send and you will pay the remittance amount and the charges.
c. If beneficiary’s bank makes charges for handling the payment. EXIM Exchange Company
(Canada) Limited is not responsible for such charges.
2. Payment Delivery Timescales
a. EXIM Exchange Company (Canada) Limited’s Remittance System is designed to deliver
electronic payments to Bangladesh by the next business day. Remittances accepted
on Saturday after 2:00 PM or Sunday will not be processed until the next business
day in Canada.
b. Beneficiaries at outlying branches (Bangladesh) branches of other banks can expect
slightly increased delivery timescales but normal delivery can be expected within
four business days. If Beneficiaries bank EXIM Bank Ltd. Can expect delivery next
c. If the Remitter tenders a cheque or makes a credit transfer to the Bank in order
to cover the remittance, the remittance certificate will be issued by the Bank when
the cleared funds are received. This normally takes five working days but clearance
from offices other than EXIM Exchange Company, Flat - 1, 3096 Danforth Avenue, M1L
1B1, Toronto, Ontario, Canada may take six working days. The Canadian Dollar/Taka
conversion rate applicable will be that which applies on the date of remittance.
3. Cancellations and Queries
a. If you request EXIM Exchange Company (Canada) Limited to cancel a remittance payment
that has already been sent and received by a bank in Bangladesh, we will use all
reasonable endeavours to obtain the return of monies and you acknowledge that this
may require the authority of the beneficiary. Monies returned may also have charges
deducted by the beneficiary's bank to cover costs. Any charges made to make the initial
payment will not be refunded. The Bank reserves the right to make a cancellation
charge to recognise the cost of the work done in making recovery. For such refund,
prior Bangladesh Bank's approval will be required. Hence, the refund process could
take considerable time.
b. If you request us to investigate or amend an existing payment, the Bank will prepare
to do that with no charge.
c. These Terms and Conditions are without prejudice to your statutory rights.
a. EXIM Exchange Company (Canada) Limited is not responsible for checking details
of the remittance (including details of the beneficiary or the beneficiary's bank
provided by you.)
b. EXIM Exchange Company (Canada) Limited does not, unless it otherwise agrees, guarantee
funds will be credited to the beneficiary's bank within any particular period.
c. EXIM Exchange Company (Canada) Limited shall not be liable to the remitter or
beneficiary for any loss of profit, contracts or goodwill or any other loss or damage
including any indirect consequential loss (whether arising in contract, negligence
or otherwise and whether or not the possibility of such loss or damage was known
or brought to the attention of the Bank at the time it accepted the remittance instruction
to effect the relevant remittance transfer) provided always that EXIM Exchange Company
(Canada) Limited will, if requested by the customer, use all reasonable endeavours
to trace and recover (at the customer's cost and expense) the amount of any remittance
transfer not received at the beneficiary's bank.
d. EXIM Exchange Company (Canada) Limited shall only be liable for a delay in funds
being credited to the beneficiary's bank to the extent that EXIM Exchange Company
(Canada) Limited has been negligent, in which case, EXIM Exchange Company (Canada)
Limited shall be liable to compensate the remitter for loss of interest for the period
during which the payment has been delayed. In the event of the funds failing to be
credited to a beneficiary's bank, EXIM Exchange Company (Canada) Limited shall only
be liable if it has been negligent but shall not be liable to the remitter for any
loss of profit, contracts or goodwill or any other loss or damage including any indirect
or consequential loss.
e. EXIM Exchange Company (Canada) Limited shall not have any liability for any failure
to perform its obligations as a result of computer systems failure, telecommunications
malfunction, industrial dispute, or any circumstances beyond its reasonable control.
f. Under no circumstances shall EXIM Exchange Company (Canada) Limited be liable
for more than the principal sum of the remittance plus the charges in the event of
delay, non-delivery or underpayment of the remittance, due to fault, error or omission
of the Bank. In the event of non-delivery, the principal amount of the remittance
shall be refunded to the remitter once the funds have been returned to EXIM Exchange
Company (Canada) Limited. Insufficient or inaccurate information supplied by the
remitter may affect your statutory rights should the payment be delayed.
g. Remitters may not include conditions to be satisfied before payment can be released
to the beneficiary as neither EXIM Exchange Company (Canada) Limited nor beneficiary
banks can accept responsibility for policing such conditions.
5. Legal Jurisdiction
These Terms and Conditions will be governed by and construed in accordance with the
laws of Canada and EXIM Exchange Company (Canada) Limited and the remitter hereby
submit to the jurisdiction of English Courts.
a. By signing or submitting a remittance application, the individual(s) named are:
o Confirming that any details supplied are true and complete;
o Authorising EXIM Exchange Company (Canada) Limited when considering the remittance
application and at any time in the future to make credit reference, identity, fraud
and other enquiries, including information from the electoral register.
o It is understood that credit reference and fraud prevention agencies will maintain
a record of our search and the information we give them including whether you have
given us false or inaccurate information or we suspect fraud.
In making an remote transfer we are acting as your agent. You must comply with any
relevant local laws and you agree to hold us harmless against all obligations and
liabilities we incur as a result of acting for you.