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Money Transfer Terms of Service as of May, 2011

1. ACCEPTANCE OF TERMS OF SERVICE

This Agreement sets forth the terms and conditions governing your use of the Service and provides important disclosures required by law. The Service is offered by Sonali Exchange Co. Inc. These Terms of Service are generally between you (also referred to as “Sender" or "User") and Sonali Exchange Co. Inc., each of which may rely on and enforce this Agreement. Please read this Agreement carefully. Use of the Service constitutes acceptance of these terms.

2. ELECTRONIC COMMUNICATIONS

A.        General Consent; Categories of Records
The Service is an electronic, Internet-based service. Therefore, you understand and agree that this Agreement will be entered into electronically, and that, in accordance with applicable law, the following categories of information ("Communications") may be provided by electronic means:

  • This Agreement and any amendments, modifications or supplements to it.
  • Your records of Payments and other transactions through the Service, including without limitation your history of Payments and e-mail confirmations of each individual transaction.
  • Any initial, periodic or other disclosures or notices provided in connection with the Service, including without limitation those required by applicable law. This may include verification of information provided by you to Sonali Exchange Co. Inc., to ensure that all Payment requests are compliant with applicable laws and regulations.
  • Any customer service communications, including without limitation communications with respect to claims of error or unauthorized use of the Service.
  • Any other communication related to the Service.

Although Sonali Exchange Co. Inc., reserves the right to provide Communications in paper format at any time, you agree that it is under no obligation to do so. All Communications in either electronic or paper format will be considered to be "in writing" and in accordance with applicable law. You should print a paper copy of this Agreement and any electronic Communication that is important to you and retain the copy for your records. Due to the concern of identity theft, Sonali Exchange Co. Inc., will never obtain your personal information from you by sending you an e-mail or through any internet link. Such information will be faxed by you to Sonali Exchange Co. If you do not wish to receive this Agreement or the Communications electronically, you may not use the Service.

B.         Hardware and Software Requirements
In order to access and retain Communications, you must have:

  • An Internet browser that supports 128-bit encryption, such as Netscape Navigator version 4.0 or above or Internet Explorer version 4.0 or above.
  • An e-mail account and e-mail software capable of interfacing with standard mail protocols.
  • A personal computer, operating system and telecommunications connection to the Internet capable of supporting the foregoing.
  • Sufficient electronic storage capacity on your computer's hard drive or other data storage unit.
  • A printer that is capable of printing from your browser and e-mail software.

C.        Delivery of Electronic Communications
Subject to applicable law, Communications may be posted on the Service's pages within Sonali Exchange Co. Inc., website or other website disclosed to you and/or delivered to the e-mail address you provide. All electronic Communications will be deemed to have been received by you no later than five (5) business days after Sonali Exchange Co. Inc., sends it to you by e-mail or posts the Communication on Sonali Exchange Co. Inc., website, whether or not you have received the e-mail or retrieved the Communication from Sonali Exchange Co. Inc., website. An electronic Communication by e-mail is considered to be sent at the time that it is directed by the Sonali Exchange Co. Inc., email server to the e-mail address provided by you. An electronic Communication by posting to Sonali Exchange Co. Inc., website is considered to be sent at the time it is publicly available. You agree that these are reasonable procedures for sending and receiving electronic Communications.

D.        How to Withdraw Consent
If you wish to withdraw your consent to have Communications provided in electronic form, you must cancel any pending Payments and stop using the Service. To cancel pending Payments, you must use the screens at Sonali Exchange Co. Inc's website. As detailed below, you may cancel Payments only within certain time frames. There may be fees to cancel a Payment.

E.         How to Update Your Records
You agree to promptly update your Service records if your email address or other information changes. You may update your records, such as your e-mail address, at the Service's "Modify Profile" pages within Sonali Exchange Co. Inc's website.

3. OVERVIEW OF SERVICE.

A.        Description
The Service allows you, the Sender, to transmit money to individuals or businesses in Bangladesh using an Internet interface (each, a "Payment").
References in this Agreement to a "Recipient" apply to the person or entity to whom you are sending a Payment. All currency references are to U.S. dollars, although Recipients shall usually receive funds in local currency. All funds will be exchanged from U.S. dollars to local currency prior to delivery to Recipient. The exchange rate will be posted on Sonali Exchange Co. Inc's Website and will be accessible to you from such website prior to your initiation of a Payment. You should consult this exchange ratio on each occasion you send a Payment. Exchange rate at the time of processing a transaction is indicative. Actual exchange rate may be different depending on the fluctuations. Recipients may receive funds in US Dollars, provided Recipients maintain foreign currency account in US Dollars. However, withdrawal of funds shall be subject to the laws and rules of Bangladesh.

B.         Eligible Users
In order to use the Service, (i) you must be a registered user of Sonali Exchange Co. Inc., website; (ii) you must be an individual person at least 18 years of age and able to form legally binding contracts under applicable law; (iii) you must have a postal mailing address (not a P.O. Box) in the United States and a valid and active e-mail address; (iv) you must have a valid deposit account, with checking facilities, with a U.S.-based financial institution; and (v) your mailing address must match the billing address for your deposit account. The Service will verify information provided to it and reserves the right to suspend your ability to use the Service if you do not satisfy these requirements.

C.        Registration
Sender registers with the Service and initiates a transaction by logging on to Sonali Exchange Co. Inc's website and clicking on the [Service] icon. Sender enters required information required about the Recipient and Sender. Funds are then debited by Sonali Exchange Co. Inc., or its authorized agent from Sender's checking account and held in one or a series of master stored value accounts for the benefit of each Sender (collectively, the "Account") [Such Accounts are not FDIC-INSURED.] Although funds will first be held at the Bank, prior to receipt by the Recipient, they will pass through one or more other banks as they move to the country of the Recipient. At Sonali Exchange Co. Inc's discretion and subject to local laws, Recipients may receive funds either (i) electronically or (ii) in the form of a paper check issued upon a local bank.

D.        Funding your Payments
You make a Payment by entering the required information requested on Sonali Exchange Co. Inc's website and agreeing to the terms of this Agreement. You can make a Payment as follows:

  1. Electronic Transfers (ACH)
    You can pay for your Payment with an electronic draft -- an automated clearing house ("ACH") debit to a deposit account you maintain at a United States-based depository institution. The address of record on the deposit account you use must be the same as the U.S. postal mailing address you furnish us prior to your use of the Service, and you must properly respond to any notice Sonali Exchange Co. Inc. sends to that address. If you choose to initiate your Payment with an electronic draft, you are consenting to the following:
    "I hereby authorize my existing bank, herein after called COMPANY, to initiate credits to an account established by Sonali Exchange Co. Inc., for the benefit of others, herein after referred to as DEPOSITORY, and to debit the same plus any applicable fees from my account at the bank I designate. I acknowledge that my request to credit Sonali Exchange Co. Inc., must comply with all applicable provisions of U.S. law."
  2. Miscellaneous
    Payments may not be initiated by cash or wire transfer.

E.         Processing Time.
Receipt of funds by a Recipient is dependent upon when Sonali Exchange Co. Inc., receives good funds and upon local laws and bank and clearing system regulations applicable in the country where Recipient resides. Sonali Exchange Co. Inc., does not guarantee the timing of a Recipient's receipt of funds initiated pursuant to a Payment request from you.

F.         Records.
You may access records of all Payments at any time the Service is available in the manner specified in the instructions posted on the website. Such access shall constitute “periodic" notice with respect to your obligation to notify Sonali Exchange Co. Inc., of any improper transaction.

G.        Funds Availability.

1.         Electronic Transfers (ACH)
Funds from an ACH debit transaction are available for making Payments as soon as Sonali Exchange Co. Inc., receives final (e.g., not provisional) payment.

H.         Refused or Unclaimed Payments.

  1. Payment not processed
    If an attempted payment for the Service is returned unpaid or charged back for any reason, you authorize Sonali Exchange Co. Inc., in its discretion, to resubmit the transaction to your deposit account and consent to the applicable service fees. Sonali Exchange Co. Inc., reserves the right to limit your use of the Service, including the number and amounts of Payments you initiate.
  2. Payment not Deliverable or Refused.
    If a Payment is undeliverable, or if it is rejected by the Recipient, or if the Recipient does not deposit the check within one (1) year of delivery, the Payment will be canceled. Generally, the funds will be returned to you, minus a small fee. However, because of certain laws in effect in Bangladesh, it may not be possible to return an unclaimed or refused Payment to you if the funds have been converted into a local currency. If this occurs, you will be notified of the inability to deliver the Payment to the Recipient and will be given the opportunity to designate a new Recipient in the same country. Sonali Exchange Co. Inc., will then use its best efforts to direct that the funds be made available in the local currency to the new Recipient you designate. If a Payment is canceled, you will be notified by an e-mail which will describe the status of those funds and you will have an option to get the refund of payment in U.S. dollars on the prevailing exchange rate, at the time of refund, from Taka to U.S. dollars.

I.          Canceling Payments.
YOU DO NOT HAVE A RIGHT TO CANCEL A PAYMENT AFTER TRANSFER OF THE FUNDS IS COMPLETED.
Once the Recipient receives the Payment, you may not reclaim the Payment through the Service, regardless of any dispute you may otherwise have with the Recipient regarding a transaction to which the Payment relates. You agree to pursue any such claims directly with the Recipient and agree that Sonali Exchange Co. Inc., is not responsible or liable in any manner for any claims that you may have, or any claims made against you by any person, arising out of any dispute you may have with a Recipient.

J.         Fees
Senders will be charged fees with respect to each Payment, as set forth in the Service Fee Schedule. Fees will be subtracted from the amount you authorize to transmit to the Recipient. Confirming a transaction in accordance with the directions on Sonali Exchange Co. Inc.'s website signifies your concurrence with the current fee schedule. Fees are subject to change upon prior notice to you by any method permitted under this Agreement.

K.         Aggregate Limits and Geographic Limits on the Use of Service
Use of the Service is limited. You cannot transfer more than $1000.00 in your single transaction. You cannot transfer more than $5,000.00 during any month. Users may not maintain multiple accounts through Sonali Exchange Co. Inc. For purposes of these limitations, Sonali Exchange Co. Inc., will aggregate funds from the same deposit account, regardless of the name of the User. Moreover, funds initiating from the same address or being received at the same address are subject to aggregation and these limitations. Sonali Exchange Co. Inc., reserves the right to change the foregoing limits at any time.

L.         Consumer Reports
User agrees that consumer reports may be obtained in connection with their use of the Service. Upon User's request, Sonali Exchange Co. Inc., will inform User as to whether such a report was requested, and if so, the name and address of each agency which furnished such a report.

4. ERRORS OR QUESTIONS.
In case of errors or questions about your electronic transactions, write to Customer Service at compliance@sonaliexchange.com  as soon as you can, if you think your on-line transaction history is wrong or if you need more information about a transfer listed in your on-line transaction history.

  • Tell Customer Service your name, user ID, and Service transaction receipt numbers for the items in question.
  • Describe the error or transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
  • Tell Customer Service the dollar amount of the suspected error.

Sonali Exchange Co. Inc. must hear from you no later than sixty (60) days after we post a statement, on our website, on which the problem or error appeared. Sonali Exchange Co. Inc., will determine whether an error occurred within ten (10) business days after it hears from you and will correct any error promptly.
For errors involving new accounts, Sonali Exchange Co. Inc., may take up to ninety (90) days to investigate your complaint or question.
Sonali Exchange Co. Inc. will tell you the results within three (3) business days after completing its investigation. If it decides that there was no error, it will send you a written explanation via e-mail. You may obtain copies of documents used in its investigation for a fee.

A.        Password Protection
You must use your user ID and password, which are adopted by Sonali Exchange Co. Inc., for your security, to access the Service. You agree that your password has the same effect as your written signature and can be used to authorize Payments. You agree not to divulge your password to any other person, and you agree not to use another person's Sonali Exchange Co. Inc., user name or password. If, notwithstanding the foregoing prohibition, you give your password to another person, you will be deemed to have authorized them to use that password for any and all purposes, without limitation. You agree that Sonali Exchange Co. Inc., will not have any responsibility or liability to you or any other person for any losses or damages which you or anyone else may suffer if you disclose your password to any other person, including any losses or damages arising out of the-disclosure of this information by the recipient to another person.

B.         Your Liability for Unauthorized Payments
Inform Sonali Exchange Co. Inc., AT ONCE, via email at [Sonali should fill in its email address], if you believe that your password for the Service has been lost, stolen or compromised in any way or that someone has transferred or may transfer money without your permission. E-mailing to [Sonali should fill in its email address] is the best way of keeping your possible losses down and stopping an unauthorized person from accessing your deposit or credit card accounts.

5. LIABILITIES AND RESPONSIBILITIES

A.        Your Financial Obligations
If a transaction used to fund a Payment is reversed or you initiate a charge back, you promise to pay any negative balance immediately. You authorize Sonali Exchange Co. Inc., without notice to you, to charge any deposit account you have used to fund your Payment in the amount of any such negative balance. Sonali Exchange Co. Inc., also has the right to collect from you the amount of any uncollected or reversed Payment, plus any collection expenses, court costs and reasonable attorneys' fees. You agree to hold Sonali Exchange Co. Inc., harmless from any losses, costs, expenses or damages either of them may incur in connection with collecting any negative balance, or in defending any of the foregoing actions, including court costs and attorneys' fees. You acknowledge that transactions may be reported to a collection agency or credit bureau if you do not pay Sonali Exchange Co. Inc., in accordance with this Agreement. Sonali Exchange Co. Inc's making of any Payment without receiving sufficient funds shall not create any obligation on the part of Sonali Exchange Co. Inc., to make any such Payment in the future.

B.         Your Obligation to Provide Complete and Accurate Information
You represent and warrant that all information you provide to Sonali Exchange Co. Inc., in connection with the Service, including but not limited to your application information and all data entered in connection with any Payment or other transaction, will be complete and accurate in all respects. Sonali Exchange Co. Inc., is entitled to rely on any information you provide, and you agree to update your personal information if it changes. Sonali Exchange Co. Inc., also reserves the right to take steps to verify the information you provide, although they are not required to do so. IF YOU PROVIDE FALSE INFORMATION, YOUR ABILITY TO USE THE SERVICE MAY BE TERMINATED AND ANY PENDING PAYMENTS MAY BE CANCELLED. IN ADDITION, YOU MAY BE SUBJECT TO CIVIL AND CRIMINAL PENALTIES. Furthermore, you represent and warrant in connection with any Payment that:

1. the Payment information, including the name, address and e-mail address (if appropriate) of the Recipient, is accurate,
2. you have authority to access the account from which your payment is being initiated and such account has a sufficient balance to complete the requested transaction;
3. the method for funding your Payment (e.g., deposit account at a depository institution) has a sufficient balance to make the Payment, and
4. the Payment is lawful. You are solely responsible for ensuring that the Payment has been addressed to the correct Recipient at the correct address. DO NOT SEND A PAYMENT IF YOU ARE UNSURE OF THE RECIPIENT'S ADDRESS. Sonali Exchange Co. Inc., is not responsible for payments made to unintended recipients caused by incorrect information provided by you. Moreover, Sonali Exchange Co. Inc., is not responsible for verifying the identity of Recipients.

C.        Indemnification
You agree to indemnify and hold Sonali Exchange Co. Inc., its shareholders, subsidiaries, affiliates, directors, officers, employees, agents, suppliers and subcontractors harmless from any claim or demand, including but not limited to reasonable attorneys' fees, made by any third party due to or arising out of your use of the Service.

D.        Disclaimers and Warranties
YOU EXPRESSLY AGREE AND UNDERSTAND THAT THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. SONALI EXCHANGE CO. INC., EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.

E.         Liability; Limitations
If, after receiving a timely, complete and accurate Payment request, a Payment is not completed in the correct amount, Sonali Exchange Co. Inc., will be liable only for your proximately caused actual damages as set forth below, to the extent required by applicable law. Without limiting the generality of the preceding sentence, Sonali Exchange Co. Inc., will not be liable if (i) through no fault of Sonali Exchange Co. Inc., the deposit account from which you wish to transfer funds is not open or does not have a sufficient available balance to make the Payment or funds transfer; (ii) you attempt to transfer funds in excess of the transaction limits set forth in this Agreement; (iii) the Service was not working properly and you knew or had been advised about the malfunction before you completed the transaction; (iv) you did not follow all Service instructions properly; (v) Sonali Exchange Co. Inc., does not correctly receive your instructions due to a telecommunications failure or otherwise;(vi) you provided an incorrect address for the intended Recipient; (vii) you improperly cancelled the Payment; (viii) the account you have designated to fund the Payment(s) has been closed or suspended for one of the reasons set forth in this Agreement, is invalid or you are not authorized to access such; (ix) a Recipient has refused to accept a Payment or fails to deposit or cash the check within the time frame set forth in this Agreement; (x) circumstances beyond Sonali Exchange Co. Inc's control prevent any Payment from reaching the Recipient; or (xi) upon the occurrence of any other facts representing an exception to Sonali Exchange Co. Inc's liability as stated in this Agreement.
If Sonali Exchange Co. Inc., is deemed liable to you in connection with any Payment or other transfer of funds made or not made in accordance with this Agreement, the maximum aggregate liability of Sonali Exchange Co. Inc., shall be the amount of the Payment or transfer, without interest, unless otherwise required by applicable law. YOU EXPRESSLY UNDERSTAND AND AGREE THAT SONALI EXCHANGE CO. INC., SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, EVEN IF SONALI EXCHANGE CO. INC., HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
NOTE: SONALI EXCHANGE CO. INC., IS NOT A PARTY TO THIS AGREEMENT ONCE THE FUNDS REPRESENTING YOUR PAYMENT ARE TRANSFERRED TO ANOTHER INSTITUTION. AT ALL TIMES UNDER THIS AGREEMENT, SONALI EXCHANGE CO. INC'S LIABILITY SHALL BE LIMITED TO ACTIVITIES WHICH OCCUR IN THE UNITED STATES AND ARE EFFECTED IN AN ATTEMPT TO DELIVER A PAYMENT TO A RECIPIENT OUTSIDE OF THE UNITED STATES.

6. MORE IMPORTANT INFORMATION

A.        General Information
This Agreement constitutes the entire agreement between you and Sonali Exchange Co. Inc., regarding the use of the Service and supersedes any prior agreements between you and Sonali Exchange Co. Inc., to the extent that they might otherwise apply to the Service. Otherwise, any such other agreements remain in full effect in accordance with their terms. You may also be subject to additional terms and conditions that may apply when you use related services or third-party software. This Agreement and the relationship between you and Sonali Exchange Co. Inc., shall be governed by the laws of the State of New York without regard to its conflict of law provisions. You agree to submit to the jurisdiction of the courts located within the State of New York. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of this Agreement remain in full force and effect. You agree that, to the extent any statute or law to the contrary may be modified hereby, any claim or cause of action arising out of or related to the use of the Service or this Agreement must be filed within one (1) year after such claim or cause of action arose or it will be forever barred.

B.         Termination
The Sonali Exchange Co. Inc., reserves the right to terminate your ability to use the Service for any reason and may cancel any pending Payment. Suspension or termination may occur if in Sonali Exchange Co. Inc's sole determination(i) you have not properly funded a requested transaction; (ii) you attempt to initiate a Payment from an account that does not belong to you;(iii) you use the Service, directly or indirectly, for any unlawful or improper purpose; (iv) you provide incorrect or false information about yourself, your accounts or about a Recipient; (v) you use or attempt to use the Service for tampering, hacking, modifying or otherwise corrupting the security or functionality of Sonali Exchange Co. Inc., or any other website; (vi) Sonali Exchange Co. Inc., receives conflicting claims regarding ownership of, or the right to use, an account used to fund Payments; (vii) Sonali Exchange Co. Inc., receives a garnishment, levy or other legal process that affects Payment; (viii) you have breached a term or condition of this Agreement, or any representation or warranty that you make under this Agreement is false; or (ix) Sonali Exchange Co. Inc., determines, in its discretion, that you are no longer actively using the Service. You agree that Sonali Exchange Co. Inc., will not be held responsible or liable to you, any Recipient or any other person for such termination. Moreover, you understand the Sonali Exchange Co. Inc., may report suspicious activity to appropriate law enforcement organizations.
To voluntarily terminate your ability to make Payments, you must access the Service and follow the corresponding directions.
Upon the termination of your ability to make Payments for any reason, all your pending Payment requests will be terminated. If you have no outstanding obligations in connection with the Service, Sonali Exchange Co. Inc., may credit any balance to the deposit account you used to fund Payments. Termination of this Agreement will not affect your liability related to acts or omissions prior to termination, including your liability for any Payment.

C.        System Malfunctions
Sonali Exchange Co. Inc., is not liable for any loss resulting from a cause outside their direct control, including the failure of electronic or mechanical equipment or communication lines, telephone or other interconnection problems, computer viruses, “hacking," unauthorized access, theft, operator error, severe weather, earthquakes, natural disasters, strikes or other labor problems, wars, terrorist attack or government restrictions, or for any information lost due to malfunction or loss of any e-mail systems.

D.        Changes to this Agreement
This Agreement may be modified or amended by Sonali Exchange Co. Inc., from time to time without notice, except as may be required by law. You can review the most current version of the Agreement at any time by reviewing the Service site. You may terminate your use of the Service if you do not agree with any modification or amendment. If you use the Service after the effective date of an amendment or modification, you will be deemed to have accepted that amendment or modification. You agree that you will not modify this Agreement and acknowledge that any attempts by you to modify this Agreement shall be void.

E.         Use of Information and Disclosure to Others
The Privacy Policy describes Sonali Exchange Co. Inc's policies regarding disclosure and use of that information. You consent to have your name and e-mail address made available as identification to any Recipient or any person who has sent you funds through the Service.

F.         Assignment
You may not assign this Agreement to any other party. Sonali Exchange Co. Inc., may assign this Agreement or delegate certain of their rights and responsibilities under this Agreement to third parties without notice to you.

G.        No Waiver
Sonali Exchange Co. Inc., shall not be deemed to have waived any of its rights or remedies under this Agreement unless such waiver is in writing and is signed by the party alleged to have waived. The delay or failure of Sonali Exchange Co. Inc., to exercise or enforce any right or remedy in connection with this Agreement shall not constitute a waiver of such right or remedy or any other rights or remedies. A waiver on any occasion shall not be construed as a bar or waiver of any rights or remedies on any other occasion.

H.         Business Days
Some provisions of this Agreement make reference to "business days." For purposes of those provisions, "business days" are Monday through Friday, excluding federal holidays in the United States and Saturday through Thursday, excluding government holidays in Bangladesh. However, the Service is available on-line even on days that are not business days.
Any controversy or claim arising out of or relating to this Agreement or the provision of services Sonali Exchange Co. Inc., shall be settled by binding arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any such controversy or claim shall be arbitrated on an individual basis. The arbitration shall be conducted in New York City and judgment on the arbitration award may be entered by any court having jurisdiction thereof. Irrespective of the location, the arbitrator shall be appointed by JAMS (www.jamsadr.com). Either you or Sonali Exchange Co. Inc., may seek any interim or preliminary relief from a court of competent jurisdiction in New York as necessary to protect  rights or property of you, the Sonali Exchange Co. Inc., (or Sonali Exchange Co. Inc's agents, suppliers or subcontractors) pending the completion of arbitration. You and Sonali Exchange Co. Inc., shall sign all documents and do all other things necessary to submit any such matter to arbitration and further agree to submit to arbitration and to abide by the decision rendered in arbitration.

I. Right to Refund and, or Service Problems Not Resolved

II.
a. California.
The following applies only to Transactions that are submitted by Senders in California.

RIGHT TO REFUND:

You, the customer, are entitled to a refund of the money to be transmitted as the result of this agreement if Sonali Exchange Inc. Co. does not forward the funds received from you within 10 days of the date of its receipt, or does not give instructions committing an equivalent amount of funds to the person designated by you within 10 days of the date of the receipt of the funds from you unless otherwise instructed by you.
If your instructions as to when the funds shall be forwarded or transmitted are not complied with and the funds have not yet been forwarded or transmitted you have a right to a refund.
If you want a refund, you must fax your written request to Sonali Exchange Co. Inc.  at 212-808-0791; or mail it to Sonali Exchange Co.Inc. , Attn: Customer Service Manager, 211 E. 43rd Street, Suite 1503, New York, NY 10017, USA. If you do not receive your refund, you may be entitled to your money back plus a penalty of up to $1,000 and attorney's fees pursuant to Section 1842 of the California Financial Code.

III. General. Please do tell us if you have any problems with our   services. You can contact us using the e-mail address and, or contact information in this document or our website’s home page. Residents of certain jurisdictions may also consider the following:

    1. California. If you have complaints with respect to any aspect of the money transmission activities conducted at www.sonaliexchange.com, you may contact the California Department of Financial Institutions at its toll-free telephone number, 1-800-622-0620, by email at consumer.complaint@dfi.ca.gov, or by mail at Department of Financial Institutions, Consumer Services, 1810 13th Street, Sacramento, CA 95811.
    2. Maryland. The Commissioner of Financial Regulation for the State of Maryland will accept questions or complaints from Maryland residents regarding Sonali Exchange Co. Inc.   at: Commissioner of Financial Regulation, Attention Complaint Unit, 500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, toll-free telephone number: 1-888-784-0136.
    3. New York.  Unresolved consumer complaints can be mailed to the NY State Banking Department Consumer Service Division, One State Street
      New York, NY 10004-1417 or by calling 1-877-226-5697, or by email at consumer@banking.state.ny.us.
    4. New Jersey.  If you have any unresolved complaints with respect to any aspect of the money transmission activities conducted at www.sonaliexchange.com, you may contact the State of  New Jersey  Department  of Banking and Insurance  at Telephone:   609-292-7272 or its Consumer Hotline: 1-800-446-7467.

IV. Refunds. In general, we will refund your money upon your written request.  We will consider your written request for a refund (submitted by email, fax, or U.S. mail) using the contact information below.   Please provide the sender's full name, address, and phone number, together with the transaction reference number, transaction amount, and the reason for your refund request.

If we do provide you a refund, we will only refund the transaction amount if the transaction was not paid out to the recipient; in which case we will also cancel your pending transaction. The service fees will be deducted from your refund, if the cancellation is not caused by us; refunds will be paid by check to the name of the sender only or refunded using the same payment Instrument used to pay for the transaction. Refunds are only made in U.S. dollars. Refund amounts will not be adjusted to account for changes in the value of the U.S. dollar or foreign currency from the time your transaction was submitted. Notwithstanding the foregoing, residents of certain jurisdictions should read the statements above pertaining to their respective states.

 

Customer Inquiries and Comments

For customer inquiries or comments, please write to:
Sonali Exchange Co. Inc. , Attn: Customer Service Manager, 211 E. 43rd Street, Suite 1503, New York, NY 10017, USA.

FOR TELEPHONE CUSTOMER SERVICE, PLEASE CALL 1-212-808-0790