Finstrum Terms and Conditions

Version: July 2010

1. General Provisions
   1. Please read these Terms and Conditions carefully as these are the terms upon which you must use the Finstrum voucher whichever is applicable ("Voucher"). These Terms and Conditions govern the relationship between you and us.
   2. Your Voucher will be issued and operated by Finstrum International S.A. ("we", "us") whose registered office is at Panama, county of Bella Vista, Urbanization of EL CANGREJO, PASENDA PRIMERA street, Building PARK STUDIOS, office 1B.
   3. We operate our service under a money processing and factoring licensees and are authorized and regulated by the government of Panama. Legal notice regarding Voucher operations and guarantees are presented in Addendum #1 to these Terms and Conditions.
   4. By using a Voucher you are agreeing to be bound by these Terms and Conditions and Public Offer (Addendum #1).
   5. We may change these Terms and Conditions if we reasonably consider it necessary to do so. If we do we shall give 60 days notice before such change is made. All notices and changes will be posted on www.finstrum.com (the "Website"). You should check the Website regularly for such notices and changes. Your use of a Voucher following a change shall be considered as your acceptance of the amended Terms and Conditions. If you do not accept any such change that we make, you may cancel your Voucher prior to the change being made. For further information see Section 7 (Cancellation).
   6. Our Retail Outlets (see section 3 below) will provide you with a copy of our Terms and Conditions at the time you purchase a Voucher. You can download a copy of these Terms and Conditions at any time from our Website.
2. Fees
   We do not charge any fees for all Voucher operations including checking your balance on the Website. If we decide to increase or impose any new fees, these will be shown on the Website at least 60 days before any changes take effect.
3. Buying a Finstrum voucher
   1. We have a relationship with a number of Retail Outlets ("Retail Outlets"), where the Vouchers can be purchased.
   2. You must be 18 years old or older to purchase our Voucher.
   3. The Voucher will only be issued by a Retail Outlet upon payment by you of the initial value ("Voucher Value").
   4. Each Voucher is allocated its own unique ID Number, Personal Identification Number ("PIN") and CVC-code. When you purchase a Voucher, the Retail Outlet will issue you with a receipt showing your ID, PIN and CVC. If the Retail Outlet is an electronic retailer, the receipt showing your ID, PIN and CVC will be in electronic form, and you should print this out for safekeeping. Each Voucher with a positive balance is valid for an indefinite period of time commencing on the date it was purchased.
4. Using a Finstrum Voucher
   1. You may use our Vouchers with those online retailers and service providers listed on our Website ("Webshops"). Once you have purchased a Voucher you can use it to purchase products and services in these Webshops.
   2. You may use your Voucher as often as you like to purchase goods or services up to a total of the Voucher Value.
   3. When you pay using your Voucher you will be asked to enter the Vouchers's ID and PIN.
   4. Upon entering the ID and PIN, you irrevocably authorise the Webshop to deduct the funds immediately from your Voucher for the relevant product/service.
   5. All debits from the Voucher shall be in proper currency, depending on the denomination of the Voucher. If you are paying for goods and services in another currency, the amount payable shall be converted at the published exchange rate on the Website on the day of the transaction. The applicable exchange rate will also be shown at the time of the transaction.
   6. Our Vouchers are transferable which means that you can give a Voucher to a friend or someone else to use in a Webshop.
   7. You can check the balance of your Voucher at any time on the Website.
   8. If you find that your Voucher is defective, you should tell us immediately, either by phone (+507 263-1042) or by e-mail (support@finstrum.com). If it is not possible to remedy the defect, we will issue you with a new Voucher.
5. Your right to a refund
   1. You may request a refund of the funds on your Voucher. To do so, send us an e-mail to info@finstrum.com requesting a refund. Before we can refund the funds to you we will need you to provide us with the ID of the Voucher, the value left on your Voucher, CVC-code, your full name, email address and a contact number as well as your personal bank account details where you would like us to transfer the money. To enable us to comply with our legal obligations, we may ask you to provide us with certain other information before we can process your refund request.
   2. You may also request a refund of the funds on your Voucher by cash in a number of our authorized Retail Outlets.
6. Cancellation
   1. Subject to Section 5, you have a legal right to cancel your Voucher anytime from the date you purchase it without being charged any cancellation fee. If you cancel a Voucher we will block it the next working day (Monday to Friday) so it cannot be used.
   2. You will not be entitled to a refund of money that you have already spent on goods or services.
   3. If you cancel a Voucher, subject to Section 5 above, we will arrange for any unused funds to be refunded to you.
   4. We may block or cancel a Voucher immediately if we suspect any fraud or misuse of a Voucher occurring, if we have other security concerns or we need to do so to comply with the law. We will issue you with a replacement Voucher if you contact us and if we believe such circumstances no longer apply.
7. Currency
   1. Our Vouchers are issued in different currencies, depending on the operating territory and Retail Outlets.
8. Your duty to take due care, security and Voucher protection
   1. You must check your receipt or your Voucher confirmation has an ID, PIN and a CVC-code. If you cannot read your PIN and a CVC-code or you believe confirmation is corrupted in any way then you must inform us by phone (+507 263-1042) or by e-mail (support@finstrum.com) stating the ID of the Voucher. We will then send you a new Voucher. If you are unable to read the ID, PIN and CVC-code of the Voucher then you must send us a copy of the print out by fax (+507 263-1042). Once we have verified that your requisites are illegible we will send you a new Voucher.
   2. You must keep your Voucher safe and protect it from access by unauthorized third parties. Do not give your ID, PIN or CVC to any unauthorized third party. When purchasing Vouchers using your mobile or online, you must make sure that no one can see your screen whilst the Voucher details are displayed. Only print the Voucher details when you are sure you are the only person with access to the printer and if you choose to send the Voucher details via SMS to your mobile phone, you must not in any circumstances allow other people access to that text.
   3. If you lose your Voucher it will not be replaced.
   4. You should treat your Voucher like cash in a wallet. If it is lost or stolen you may lose some or all of your money on the Voucher in the same way you could lose cash in your wallet.
   5. If you believe your Voucher has been stolen, you must inform us immediately. In either case you can notify us or inform us by phone (+507 263-1042) or by e-mail (support@finstrum.com) so that any remaining balance on the Voucher can be blocked. To enable us to block a Voucher we will require the Voucher details. It may take up to one working day from the time we are informed of the abuse/theft for us to successfully block a Voucher.
   6. Unless we have reason to suspect fraud, deliberate or negligent behavior on your part and as long as your claim is made within the time limit specified in 8.5 above, we will issue a new Voucher for the amount under investigation.
   7. Before we issue you with a new Voucher you must provide us with proof of purchase of the stolen/abused Voucher. In the case of a stolen Voucher you may also be required to provide us with the crime reference number issued by the police.
9. Complaints
   If you are unhappy in any way with our Vouchers or the way our service is managed, tell us by e-mailing support@finstrum.com so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly.
10. Disputes with retailers
    If you have any disputes about purchases you have made with your Voucher, you should settle these with the relevant Webshop. We are not responsible for the quality, safety, legality or any other aspect of any goods or services purchased with a Voucher. Remember that once you have used a Voucher to make a purchase we cannot stop that transaction.
11. Liability
    1. If you are affected by something which is our fault, we will only be responsible for loss you suffer as a direct result up to a maximum of the balance on the Voucher and not for any other loss (for example, loss of reputation).
    2. If you have acted fraudulently or if you do not use a Voucher in accordance with these Terms and Conditions you will be responsible for all losses on the Voucher. If you act without reasonable care and this causes losses, you may also be responsible for this.
    3. We accept no responsibility or liability for a Webshop refusing to honour a transaction on a Voucher or failing to cancel an authorization.
    4. We are not liable to you for any losses caused by acts of God, riots, war, natural disasters or other occurrences which are beyond our reasonable control.
    5. We do not guarantee the permanent availability of the Finstrum system, in particular the availability of the systems of Retail Outlets or Webshops.
12. Data Protection
    We do not collect any personal data when you purchase or use a Voucher from a Retail Outlet.
13. Assignment of the Contractual Relationship
    We may assign the benefit and burden of these Terms and Conditions to another company at any time, on giving your at least 60 days prior notice of this. If we do this, your rights will not be affected.
14. These terms and conditions are governed by the law of Panama Republic.

Addendum #1

CONTRACT OF ASSIGNMENT

(public offer)

Finstrum International S.A., hereinafter referred to as «PROVIDER», from the one part, and any physical body accepted this offer, hereinafter referred to as «CREDITOR», from the other part, collectively referred to as – «PARTIES», entered into this agreement («Agreement») as follows:

1. TERMS AND DEFINITIONS
   1. Property rights (hereinafter referred to as "PR") mean the right to claim a credit institution, which concluded a bank account agreement with OPERATOR (hereinafter referred to as the "BANK"), the actual accounts receivable, expressed as the sum of the balance of OPERATOR in a bank account. PR shall be transferred (ceded) in accordance with the laws of the Republic of Panama.
   2. Finstrum System (hereinafter referred to as the "SYSTEM") - an automated system used by the Parties in order to fulfill their obligations under the Contract for the quantitative estimation of PR, held by CREDITOR. Description, terms of use and other information in respect to the System is located on the official web site www.finstrum.com.
   3. Finstrum electronic check (hereinafter referred to as the “e-check”) means the keeper of the nominal value of PR, containing information on the number of CREDITOR’S PRs (the balance of e-check).
2. SUBJECT OF THE CONTRACT
   1. OPERATOR agrees under the conditions set forth herein, to assign PR to CREDITOR.
   2. In accordance with and under the terms of this Contract, OPERATOR confirms that CREDITOR has the right of claim and provides him with all necessary documents proving CREDITOR’S rights of claim to the BANK, as well as issues and transfers the e-check to CREDITOR.
   3. OPERATOR undertakes pursuant to the conditions set forth herein, at the request of CREDITOR to redeem PR, owned by CREDITOR, at par value.
3. CREDITOR’S RIGHTS AND OBLIGATIONS
   1. Prior to acceptance of this Offer, CREDITOR shall become a registered user of the System by accepting “The Terms of Use of Finstrum System”.
4. OPERATOR’S RIGHTS AND OBLIGATIONS
   1. OPERATOR undertakes to confirm that CREDITOR possesses PR in the amount equal to the nominal value of PR per the e-check balance of CREDITOR.
   2. OPERATOR warrants providing documents certifying PR for each e-check, upon a written request of CREDITOR, sent to OPERATOR and containing the following information on CREDITOR: last name, first name, patronymic, passport data, registration address, the nominal value of PR, the information stored in e-check as well as information on the payment of postal fees for a written response to CREDITOR.
5. MISCELLANEOUS
   1. The Contract is automatically dated with the current real time of acceptance (acceptance of the Offer) by CREDITOR and recorded under an individual number of e-check of CREDITOR.
   2. This Contract is governed and enforced in accordance with the laws of the Republic of Panama.

General Information