These Terms of Use govern your access to and use of the products and services offered by Silicon Silk Ltd. Please read them carefully before using our platform.
1. Acceptance of Terms
By accessing or using any service provided by Silicon Silk Ltd. ("Silicon Silk," "we," "us"), you agree to be bound by these Terms of Use and all applicable laws and regulations. If you do not agree, you may not access or use the services.
These Terms apply to every visitor, user, and business that accesses our website, dashboards, APIs, or any related service we provide.
2. Services Description
Silicon Silk provides cross-border payment processing, foreign exchange, global collections, and multi-currency business account services to qualifying business customers. Service availability, supported corridors, and currency pairs may change from time to time at our discretion.
We do not provide investment advice, tax advice, or banking services as a chartered deposit-taking institution.
3. Account Registration
To use our services, you must register a business account and provide accurate, complete information about your entity, beneficial owners, and authorized representatives. You are responsible for maintaining the confidentiality of your account credentials.
We reserve the right to refuse, suspend, or terminate any account at our sole discretion, including where information cannot be verified or where activity falls outside our risk policies.
4. Payment Processing
Payment instructions submitted through our platform are executed subject to cut-off times, partner availability, and applicable corridor rules. Settlement timelines are estimates and may vary based on intermediary banks, beneficiary jurisdictions, and compliance review.
You represent that all payment instructions are lawful, properly authorized, and that you hold all rights necessary to instruct the movement of funds.
5. Fees and Charges
Applicable fees, FX margins, and charges are disclosed in your service agreement, fee schedule, or in-platform quote at the time of transaction. Fees may be updated upon reasonable notice.
You are responsible for any third-party intermediary, beneficiary bank, or correspondent fees that may be deducted from a transfer outside of our control.
6. Compliance and Regulations
Silicon Silk operates as a Money Services Business registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). You agree to comply with all applicable anti-money laundering, counter-terrorist financing, sanctions, and tax reporting obligations.
We may request additional information or documentation at any time, and may delay, refuse, reverse, or report transactions where required to meet our regulatory obligations.
7. Limitation of Liability
To the maximum extent permitted by law, Silicon Silk shall not be liable for any indirect, incidental, consequential, or punitive damages arising out of your use of, or inability to use, the services.
Our aggregate liability for any claim related to the services shall not exceed the fees actually paid by you to Silicon Silk for the specific transaction or service giving rise to the claim.
8. Governing Law
These Terms are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard to conflict-of-laws principles.
Any dispute arising from these Terms or the use of our services shall be resolved exclusively in the courts located in Vancouver, British Columbia, Canada.
Continued use of Silicon Silk services after any update to these Terms constitutes acceptance of the revised Terms. We will provide notice of material changes through your account or the address on file.