Terms and Conditions
Effective Date: 1st May 2023
1. Introduction
Welcome to the terms and conditions (“Agreement”) of Glide Finance Limited (“Glide,” “we,” “us,” or “our”). This Agreement sets forth the terms and conditions governing the use of our platform and the financial services we provide. By accessing or using our services, you, the user or company, agree to be bound by these terms. If you do not agree to these terms, please refrain from using our services.
- Parties Involved
This Agreement establishes a legally binding relationship between Glide Finance Limited and the Companies (“Company” or “Users”) that successfully complete our Know Your Business (KYB) process and access our platform. “Company” refers to any business entity, corporate body, or institutional investor that has completed the KYB process, registered, and utilizes our services. Please note that individual or retail customers are not covered by this Agreement, as we exclusively cater to corporate entities and institutional investors.
Before accessing our services, we encourage you to thoroughly review this Agreement, our Privacy Policy, and any other documents referenced herein. These documents outline the terms, conditions, and policies that govern your use of Glide’s platform and services.
- Purpose of the Agreement
The purpose of this Agreement is to:
- Define the relationship between Glide Finance Limited and the Users using our platform.
- Specify the terms, conditions, and limitations associated with the services we provide.
- Outline the responsibilities and rights of both Glide and the Users.
- Set forth the procedures for using our platform, conducting transactions, and ensuring compliance.
- Establish the framework for dispute resolution, should any issues arise.
- Reference to Website
This Agreement is an integral part of the user experience on our website, accessible at https://glide.co/home (“Website”). By using our Website, you acknowledge that you have read, understood, and agreed to comply with this Agreement. Additionally, you acknowledge that any services provided through our platform are governed by this Agreement and any supplementary terms or policies provided on our Website.
For clarity, this Agreement is the sole governing document for the relationship between Glide Finance Limited and Users, and its provisions supersede any prior discussions, understandings, or representations. To access and use our services, you must agree to be bound by the terms and conditions set forth herein.
2. Definitions
In this Agreement, the following terms, when used with their initial capitalization, shall have the meanings assigned to them herein:
2.1. Agreement: Refers to these terms and conditions, which constitute a legally binding agreement between Glide Finance Limited and the Users accessing our platform and services.
2.2. Company: Denotes any business entity, corporate body, or institutional investor that successfully completes our Know Your Business (KYB) process and is registered to use the Glide platform. This term does not encompass individual or retail customers, as our services exclusively target corporate entities and institutional investors.
2.3. KYB (Know Your Business): The comprehensive due diligence and verification process undertaken by Glide Finance Limited to identify, assess, and verify the legal identity, ownership, structure, and risk associated with a Company using our services. KYB ensures compliance with regulatory requirements and platform access eligibility.
2.4. Glide, We, Us, Our: Refers to Glide Finance Limited, a Canada registered Money Services Business (MSB) authorized to provide domestic and international money remittance and foreign exchange services. Our platform facilitates financial services exclusively to registered Users after successful KYB completion.
2.5. Services: Encompasses the financial services provided by Glide Finance Limited through its platform, including but not limited to domestic and international money remittance and foreign exchange services.
2.6. Platform: Refers to the digital infrastructure, website, and associated technologies developed and maintained by Glide. The platform allows registered Users to access and use our financial services.
2.7. Website: Denotes our online presence and user interface accessible at https://glide.co/home, where Users complete registration, access our services, and agree to the terms and conditions specified in this Agreement.
2.8. Financial Services: Entails the core offerings provided by Glide Finance Limited to Users, encompassing money remittance, foreign exchange, and associated financial transactions.
2.9. User, You, Your: Designates the Company accessing and using the Glide platform, thereby agreeing to be bound by the terms and conditions of this Agreement.
2.10. Parties: Refers to both Glide Finance Limited and the registered Users, collectively entering into this Agreement to govern the terms of platform usage and financial services provision.
2.11. Regulatory Compliance: Encompasses adherence to all applicable financial and regulatory laws, standards, and guidelines as prescribed by relevant authorities. Regulatory Compliance ensures that all parties involved, including Glide and the Users, operate within the legal framework.
2.12. Dispute Resolution: The mechanisms and procedures for addressing conflicts, claims, or disagreements that may arise between Glide Finance Limited and the registered Users during the course of platform usage or financial transactions.
3. Registration and Account
3.1. Eligibility
To access and use the services offered by Glide Finance Limited (hereinafter referred to as “Glide”), all Users are required to register for an account. Registration is restricted to corporate entities and institutional investors, as Glide exclusively caters to businesses.
By registering for an account on the Glide platform, you warrant that your Company meets the eligibility criteria for accessing our services. You confirm that you are a legal entity duly incorporated or registered under the laws of your jurisdiction and that you are authorized to represent the Company and accept these terms and conditions on its behalf.
3.2. Account Creation
Account registration with Glide is initiated by visiting our official website at https://glide.co/home. Here, you can create an account by following the provided instructions. During the registration process, we may collect various information from you, including but not limited to:
a. Company Name and Legal Structure
b. Contact Information (e.g., Email, Phone)
c. Business Address
d. Business Registration Documents
e. Identification and Contact Information of Company Representatives
To complete the registration process, you must provide accurate, current, and complete information. Glide reserves the right to verify the information submitted during registration.
Failure to provide accurate and verifiable information may result in the rejection of your registration request.
Upon successful registration, you will be provided with login credentials, including a username and password. These credentials are confidential, and you are responsible for maintaining their security.
3.3. KYB Process
Glide operates a Know Your Business (KYB) process that is mandatory for all registered Users. KYB involves a comprehensive due diligence and verification procedure to ensure regulatory compliance and risk assessment. This process includes:
a. Verification of Company Identity
b. Confirmation of Ownership Structure
c. Evaluation of Business Activities
d. Regulatory Compliance Checks
The KYB process is designed to assess your Company’s eligibility to use Glide’s services and ensure compliance with applicable regulatory requirements.
Glide reserves the right to request additional documentation or information to complete the KYB process.
3.4. Account Termination
Glide reserves the right to suspend or terminate your account at its discretion. Grounds for termination may include, but are not limited to:
a. Non-compliance with regulatory requirements
b. Provision of false or misleading information during registration
c. Suspicion of fraudulent activity
d. Violation of these terms and conditions
Account termination may result in the cessation of access to Glide’s services, and you may be required to close or withdraw your account balance.
3.5. Account Security
You are solely responsible for maintaining the confidentiality of your account credentials. Glide is not liable for any unauthorized access or use of your account.
In case of suspected unauthorized access to your account, you should immediately notify Glide to take necessary security measures.
4. Services
4.1. Service Description
Glide (hereinafter referred to as “Glide”) operates as a Money Services Business (MSB) authorized to provide money remittance services, both domestic and international, as well as foreign exchange to corporate entities and institutional investors. Glide exclusively caters to businesses, and our services are designed to facilitate financial transactions for Users in a secure and efficient manner.
Our services, as provided through our platform at https://glide.co/home, encompass the following:
a. Money Remittance: Glide allows registered Users to initiate domestic and international money remittance transactions. These transactions are primarily used for business-related purposes, such as supplier payments, payroll, and international business operations.
b. Foreign Exchange: Glide offers foreign exchange services to help Users manage currency exchange risk. Our platform provides access to competitive foreign exchange rates to support international business transactions.
4.2. Service Availability
Glide’s services are accessible to registered corporate entities and institutional investors. The availability of our services is contingent on the successful completion of the Know Your Business (KYB) process during registration.
Glide’s services are accessible online through our platform. We are not a physical currency exchange or remittance service, and all transactions occur electronically.
4.3. Transaction Limits and Fees
Transaction limits and fees are determined based on the specific arrangements made with each registered Company. Glide may establish transaction limits or fees that are suitable for the Company’s operational requirements.
Glide reserves the right to adjust transaction limits and fees at its discretion, subject to any contractual agreements in place with the Company.
4.4. Transaction Confirmation
Upon the initiation of a transaction on our platform, you will receive confirmation of the transaction, including transaction details and reference numbers. It is imperative to review and confirm the transaction details for accuracy.
4.5. Service Changes and Enhancements
Glide may make updates, changes, or enhancements to our services and platform to improve functionality and user experience. We will strive to provide notice of any significant changes that may affect your use of the services.
Glide is not liable for any temporary unavailability of services due to system maintenance or unforeseen circumstances. We will make reasonable efforts to minimize service disruptions.
Any updates or changes to the services will be subject to the terms and conditions provided herein.
4.6. Third-Party Service Providers
Glide may engage third-party service providers or financial institutions to facilitate certain aspects of our services, such as fund transfers or currency exchange. While Glide endeavors to collaborate with reputable service providers, we cannot guarantee the actions or performance of such third parties.
By using our services, you acknowledge that certain components of transactions may involve third parties and accept the associated risks.
4.7. Currency Exchange Rates
Foreign exchange transactions will be subject to prevailing currency exchange rates at the time of the transaction. Glide may apply a margin to these rates.
4.8. Compliance with Legal Requirements
Glide operates under the authorization and oversight of relevant regulatory bodies and complies with applicable laws and regulations. Users of our services must adhere to legal requirements, including those related to anti-money laundering (AML) and know your business (KYB) procedures.
Any violations of legal requirements may result in the suspension or termination of your account.
5. Fees and Exchange Rates
5.1. Transaction Fees
Glide offers transparent and competitive transaction fees for the services provided to corporate entities and institutional investors. These fees are subject to negotiation and are based on the specifics of the services requested by the Company.
Glide reserves the right to modify transaction fees at its discretion. Any fee adjustments will be communicated to the registered Company before the implementation of the new fee structure.
5.2. Currency Exchange Rates
Glide is committed to providing competitive foreign exchange rates to facilitate efficient international business transactions. The exchange rates applied to foreign exchange services are based on prevailing market rates and are subject to Glide’s rate margin.
Glide’s rate margin is an additional fee charged to the base exchange rate. The specific rate margin applied to each transaction may vary and will be disclosed at the time of the transaction confirmation.
5.3. Fee Payment
All transaction fees will be debited from the registered Company’s Glide account upon the completion of the transaction. You must ensure that your Glide account holds sufficient funds to cover any applicable fees.
5.4. Rate Confirmation
For foreign exchange transactions, the exchange rate applied to a specific transaction will be confirmed at the time of the transaction initiation. This rate will be used to calculate the transaction amount, which will be deducted from your Glide account.
5.5. Fee Disputes
If a registered Company believes that an incorrect fee or exchange rate has been applied to a transaction, it must notify Glide’s support team within seven (7) business days from the transaction date. Glide will investigate the claim and, if a discrepancy is found, will make the necessary corrections.
Glide’s decision regarding fee disputes is final and binding.
5.6. Currency Conversion Disclaimer
Glide makes every effort to provide accurate and competitive foreign exchange rates. However, you acknowledge that currency exchange rates can fluctuate, and variations may occur between the rate quoted at the time of transaction initiation and the rate applied at the time of settlement. Glide is not liable for such variations.
5.7. Tax Liability
Registered Users are responsible for any tax implications associated with their use of Glide’s services. Glide does not provide tax advice, and you are advised to consult with tax professionals for guidance on tax matters.
5.8. Regulatory Compliance
Glide operates in compliance with applicable financial regulations, including those related to currency exchange services. Any modifications to fees or exchange rates will be made in accordance with legal requirements.
6. Transactions
6.1. Transaction Execution
Glide facilitates domestic and international money remittance and foreign exchange transactions between corporate entities and institutional investors (“Users”).
Users may initiate transactions through Glide’s online platform at [https://glide.co/home].
6.2. Transaction Authorization
All transactions initiated by Users through the Glide platform are subject to authorization. Glide reserves the right to decline or suspend any transaction if it suspects fraudulent activity or non-compliance with applicable laws and regulations.
6.3. Transaction Limits
Transaction limits for each User may vary and will be determined on a case-by-case basis during the registration process. Glide may adjust these limits in consultation with the User.
6.4. Transaction Confirmation
Glide will provide a confirmation of each successful transaction, including the transaction amount, exchange rate (if applicable), and the respective fees charged. The confirmation will be sent to the User’s account email address.
6.5. Settlement
Glide will execute settlements of authorized transactions promptly. The settlement will be made according to the agreed terms between Glide and the User, and the applicable currency exchange rates.
6.6. Transaction Records
Glide maintains a record of all transaction details, including but not limited to transaction date, amount, parties involved, and applicable fees. Users can access transaction history through their accounts on the Glide platform.
6.7. Refunds and Cancellations
Users may request a refund or cancellation of a transaction subject to Glide’s Refunds/Dispute Policy. The policy can be found on the Glide website at glide.co
6.8. Transaction Disputes
In the event of a dispute concerning a transaction, Users must contact Glide’s support team within seven (7) business days of the transaction date. Glide will investigate the dispute and take appropriate action based on its findings.
6.9. Communication
Glide may communicate with Users regarding transaction updates, important notifications, or any other pertinent information through email or the internal messaging system on the Glide platform.
6.10. Regulatory Compliance
Glide operates in compliance with relevant financial regulations and standards. All transactions are executed with due diligence and in adherence to applicable laws.
6.11. Currency Exchange Disclaimer
Users should note that currency exchange rates can fluctuate, and variations may occur between the rate quoted at the time of transaction initiation and the rate applied at the time of settlement.
Glide is not responsible for these fluctuations and will not be liable for such variations.
7. Privacy
7.1. Data Collection
Glide may collect and process personal and transaction data in the course of providing its services. The types of data collected may include, but are not limited to, names, contact information, financial details, and transaction records.
7.2. Data Usage
Glide will use the collected data for the following purposes:
- To verify the identity of Users.
- To facilitate and execute transactions.
- To provide support and customer service.
- To ensure compliance with applicable laws and regulations.
- To enhance the overall user experience on the Glide platform.
7.3. Data Security
Glide is committed to safeguarding the security of the data it collects. The company employs industry-standard security measures to protect against unauthorized access, disclosure, alteration, and destruction of data.
7.4. Data Disclosure
Glide may disclose data to third parties only in the following scenarios:
- To comply with legal obligations or regulatory requirements.
- To prevent fraud or criminal activity.
- To execute transactions as requested by Users.
7.5. Consent and Communication
By agreeing to these terms and conditions, Users consent to receive communication from Glide via email or the platform’s messaging system for transaction updates, service notifications, and other relevant information.
7.6. Data Retention
Glide retains data for a period deemed necessary to meet the purposes outlined in this section and in accordance with legal and regulatory requirements.
7.7. Cookies and Tracking Technologies
The Glide platform may utilize cookies and other tracking technologies to enhance user experience and gather analytical information. Users can manage their cookie settings through their account preferences.
7.8. Updates and Changes
Glide may periodically update its privacy practices to reflect evolving legal and business requirements. Users will be notified of significant changes in the privacy policy.
7.9. Data Access and Control
Users have the right to access their personal data and request corrections or erasure. Requests can be made by contacting Glide’s support team.
7.10. User Responsibility
Users are responsible for keeping their login credentials confidential and for ensuring that their account data is accurate and up to date.
7.11. Compliance
Glide operates in compliance with applicable data protection laws and regulations. For inquiries related to data privacy, please contact Glide’s support team.
7.12. International Data Transfers
Glide may transfer data internationally for the purposes outlined in this section. These transfers will be executed in compliance with applicable data protection laws and standards.
8. Disclaimers
8.1. General Information
Glide provides services to Users for money remittance and foreign exchange. While Glide strives for the highest standards, users must acknowledge that foreign exchange rates and market conditions are subject to fluctuations.
8.2. Currency Exchange Risk
Glide provides foreign exchange services, and all currency exchange transactions are executed based on prevailing market rates. Users accept the risk of potential currency value changes during transactions.
8.3. Transaction Execution
Glide is committed to executing transactions promptly and efficiently. However, the completion of transactions may be subject to delays based on external factors, including but not limited to banking and payment system processes.
8.4. Regulatory Compliance
Glide operates in accordance with applicable financial regulations and licenses. Users must recognize that the legal and regulatory environment may evolve and that Glide’s services are subject to any relevant legal changes.
8.5. Limitation of Liability
To the fullest extent permitted by law, Glide disclaims all warranties and liabilities related to the use of its services, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement.
Glide’s liability, if any, shall be limited to direct damages resulting from a proven failure to meet industry standards or a breach of contractual obligations. Any indirect, consequential, or incidental damages are excluded from liability.
8.6. Website Content
Glide’s website (https://glide.co/home) may include information, news, and links to external sources. The company does not warrant the accuracy, completeness, or timeliness of such content and disclaims any responsibility for the actions taken based on it.
8.7. Force Majeure
Glide shall not be held liable for any failure or delay in service due to circumstances beyond its control, including natural disasters, acts of government, and external events.
8.8. Third-Party Services
Glide may offer links or access to third-party services or websites for the convenience of users. Glide is not responsible for the content, services, or security of third-party platforms.
8.9. User Responsibility
Users are responsible for ensuring the accuracy and completeness of transaction details and account information provided. Users must also maintain the confidentiality of login credentials.
8.10. Legal Jurisdiction
Glide operates under Canadian legal jurisdiction. Users agree to resolve any disputes or claims arising from these terms and conditions under Canadian law.
9. Intellectual Property
9.1. Ownership
Glide retains all intellectual property rights associated with its services, website (https://glide.co/home), and any proprietary software, including but not limited to trademarks, logos, trade secrets, databases, and content.
9.2. User Access and Usage
Users are granted a limited, non-exclusive, and non-transferable license to access and use Glide’s services for authorized purposes. This license does not grant rights to reproduce, modify, or distribute any part of Glide’s intellectual property without explicit consent.
9.3. Restrictions
Users are prohibited from:
a. Copying, reproducing, or distributing any content from the Glide website without permission.
b. Reverse engineering, decompiling, or disassembling any software used by Glide.
c. Engaging in any activity that may infringe upon Glide’s intellectual property rights.
9.4. Third-Party Rights
Glide respects the intellectual property rights of third parties. Users must also respect these rights and may not use Glide’s services to infringe upon third-party intellectual property.
9.5. User-Generated Content
Any content or information submitted by users, including feedback, comments, or suggestions, may be used by Glide for operational purposes without compensation.
9.6. Reporting Violations
Users are encouraged to report any instances of intellectual property infringement to Glide. Upon verification, Glide will take appropriate actions to address such violations.
9.7. Reservation of Rights
Glide reserves the right to take legal action against any parties who infringe upon its intellectual property rights.
9.8. Termination of Usage Rights
Glide may terminate or restrict user access if intellectual property rights are violated.
10. Termination
10.1. Termination by Users
Users may terminate their account with Glide at any time by following the provided account closure procedure. Upon account closure, the user’s access to the services will be terminated.
10.2. Termination by Glide
Glide reserves the right to terminate, suspend, or restrict user access to its services and the platform, with or without prior notice, for various reasons including but not limited to:
a. Violation of these Terms and Conditions.
b. Involvement in fraudulent or illegal activities.
c. Failure to complete the Know Your Business (KYB) process satisfactorily.
d. Security concerns, unauthorized access, or misuse of the platform.
e. Non-compliance with legal and regulatory requirements.
f. Business model changes, including discontinuation of services to specific sectors.
Glide shall not be liable to users or any third parties for the termination of services or account access.
10.3. Effect of Termination
Upon termination, users agree to immediately cease using Glide’s services and platform.
Any outstanding transactions and obligations shall remain in effect following termination.
Glide’s proprietary rights, intellectual property, and any obligations pertaining to privacy and data usage shall survive termination.
10.4. Data Retention
Glide retains the right to retain user data for a reasonable period after account termination in accordance with applicable laws and regulations.
11. Governing Law and Dispute Resolution
11.1. Governing Law
These Terms and Conditions shall be governed by and construed in accordance with the laws of Canada. Users agree that any legal action or proceeding between them and Glide shall be brought exclusively in the courts located within Canada, and users expressly submit to the personal and exclusive jurisdiction of these courts.
11.2. Alternative Dispute Resolution
In the event of any dispute arising out of or relating to these Terms and Conditions, users and Glide agree to first attempt to resolve the dispute informally. Users shall contact Glide’s customer support to discuss the issue.
11.3. Arbitration
If an amicable resolution cannot be reached through informal negotiation, the parties agree to resolve the dispute through arbitration, which shall be conducted in Canada and governed by the Canadian Arbitration Association.
11.4. Governing Law for Arbitration
The arbitration shall be conducted according to the rules of the Canadian Arbitration Association. The decision rendered by the arbitrator(s) shall be binding and final.
11.5. Costs of Arbitration
Each party shall bear their own costs, and the costs of the arbitration shall be borne equally between the parties.
11.6. Class Action Waiver
Users and Glide each waive their right to a jury trial and any participation in a class action or representative action.
11.7. Legal Costs
In the event that Glide is the prevailing party in the arbitration or any legal action, Glide shall be entitled to recover its legal fees and costs from the users.
12. Changes to Terms and Conditions
12.1. Modification Rights
Glide reserves the right to amend or modify these Terms and Conditions at its sole discretion. Any changes will become effective upon posting the revised Terms and Conditions on the Glide website.
12.2. Notice of Changes
Glide will make reasonable efforts to notify users of material changes to these Terms and Conditions, either through email or through prominent notice on the Glide website.
12.3. User’s Responsibility
Users are responsible for reviewing the Terms and Conditions periodically to ensure their continued compliance. By continuing to use the services after changes become effective, users agree to be bound by the revised Terms and Conditions.
12.4. Right to Reject Changes
If a user does not agree with the modified Terms and Conditions, they have the right to terminate their account and discontinue using the services.
12.5. Retroactive Changes
Changes to the Terms and Conditions will not apply retroactively and will only govern matters arising after the effective date of the modification.
12.6. Contact Information Updates
Users are responsible for ensuring that their contact information on the Glide platform is current, as Glide will use the contact information to provide notifications of any changes.
13. Miscellaneous
13.1. Entire Agreement
These Terms and Conditions, together with the Privacy Policy and any additional agreements you may enter into with Glide, constitute the entire agreement between you and Glide with respect to the subject matter herein.
13.2. Severability
If any provision of these Terms and Conditions is found to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions will not be affected or impaired.
13.3. Waiver
The failure of Glide to enforce any right or provision under these Terms and Conditions will not be deemed a waiver of such right or provision.
13.4. Assignment
You may not assign or transfer any rights or obligations under these Terms and Conditions without the prior written consent of Glide Finance Limited. Glide may assign or transfer its rights and obligations to a third party without your consent.
13.5. Contact Information
You agree to receive communications from Glide Finance Limited electronically and that all agreements, notices, disclosures, and other communications provided electronically satisfy any legal requirement that such communications be in writing.
13.6. Language
The parties have expressly requested that these Terms and Conditions and all related documents be drawn up in English. Les parties ont expressément demandé que ces conditions et tous les documents connexes soient rédigés en anglais.
13.7. Headings
Headings are included in these Terms and Conditions for convenience and will not be used to interpret the meaning or intent of any provision.
13.8. Contact Information
For questions or concerns related to these Terms and Conditions, please contact Glide Finance Limited at the contact information provided on the website.