Terms And Conditions

Terms of service are the legal agreements between a service provider and a person who wants to use that service. The person must agree to abide by the terms of service in order to use the offered service. Terms of service can also be merely a disclaimer, especially regarding the use of websites.

Overseas Remittance Service User Agreement

Article 1 (Scope of These Terms and Conditions) These Terms and Conditions shall apply between Japan Remit Finance Co., Ltd. (hereinafter referred to as the "Company") and customers who use the Small Amount Overseas Remittance Service provided by the Company (hereinafter referred to as the "Service") (hereinafter referred to as the "Customer").

Article 2 (Real-Name Transactions) The Customer shall conduct all small amount overseas remittance transactions with the Company under the Customer's real name.
If the Company requests documents or other necessary materials for the purpose of verifying the Customer's real name, the Customer shall comply with such request.

Article 3 (Limitations on remittance) The remittance limits applicable to the Customer when using this Service shall be governed by Article 3-4, Paragraph 1 of the latest Foreign Exchange Transactions Regulations, as amended from time to time.

Article 4 (Designated Account) ① The Company may disburse funds to the Customer or receive funds from the Customer only through an account opened in the name of the Company with a financial institution, which was designated at the time of registration (including any amended registration) as a Small Amount Overseas Remittance Business Operator for use in conducting small amount overseas remittance business (hereinafter referred to as the "Designated Account").
② The Company shall disclose information regarding the Designated Account on its website or through other appropriate means and shall maintain such information in an up-to-date manner.

Article 5 (Fees) ① Upon receiving an application from the Customer to use the Service, the Company shall provide the Customer with detailed information regarding the fees payable by the Customer (hereinafter referred to as the "Fees"), specifying each component separately, including but not limited to exchange fees, remittance fees, and fees payable to foreign partner institutions.
② The Company shall disclose information regarding the Fees on its website or through other appropriate means and shall maintain such information in an up-to-date manner.

Article 6 (Applicable Exchange Rates) ① Upon receiving an application from the Customer to use the Service, the Company shall provide the Customer with information regarding the exchange rate applicable to the transaction.
② The Company shall disclose information regarding the applicable exchange rate on its website or through other appropriate means and shall maintain such information in an up-to-date manner.

Article 7 (Amounts Paid and Received) ① When the Customer applying for the Service deposits funds into the Designated Account, the Company shall deduct the applicable Fees, convert the remaining amount into foreign currency, and remit such amount to the recipient designated by the Customer.
② Upon receiving an application from the Customer to use the Service, the Company shall provide the Customer with information regarding the amounts to be paid and received, expressed both in Korean Won (KRW) and in the applicable foreign currency.

Article 8 (Processing Time) ① Upon receiving an application from the Customer to use the Service, the Company shall provide the Customer with information regarding the estimated time required for payment or receipt of funds.
② The Company shall disclose information regarding the estimated processing time for payment or receipt of funds on its website or through other appropriate means and shall maintain such information in an up-to-date manner.

Article 9 (Amendment or Cancellation of Remittance) ① The Customer may request an amendment or cancellation of a remittance transaction by telephone or by visiting a branch office, provided that the remittance has not yet been completed, including cases where the funds have not been successfully credited to the recipient’s account.
However, once the remittance transaction has been completed, including successful crediting to the recipient's account, the Customer may not request any amendment or cancellation.
② Upon receiving a request from the Customer for amendment or cancellation of a remittance transaction, the Company shall process such request and notify the Customer of the result.

Article 10 (Notification of Remittance Results) When a remittance transaction has been completed, including successful crediting to the recipient's account, the Company shall promptly notify the Customer of the result through the contact information registered in advance by the Customer.

Article 11 (Compensation for Damages) If damage is incurred by the Customer due to reasons attributable to the Company, the scope of the Company's liability for damages shall include ordinary damages as prescribed under the Civil Act (Korean law).
Compensation for special damages arising from special circumstances shall be limited to cases where the Company knew or could have known of such special circumstances.

Article 12 (Refund) ① If a remittance transaction is not completed within fifteen (15) days from the date on which the Customer deposited funds into the Designated Account after applying for the Service, and such failure is not attributable to the Customer, the Customer may request a refund from the Company.
② Upon receiving a refund request under Paragraph 1, the Company shall, except in cases of special circumstances, pay to the Customer the amount originally deposited into the Designated Account and any applicable amount under Article 11 (Compensation for Damages).

Article 13 (Dispute Resolution) ① The Company shall establish procedures for reflecting legitimate opinions or complaints raised by Customers in connection with the small amount overseas remittance business and for compensating Customers for damages incurred in relation thereto (hereinafter referred to as the "Dispute Resolution Procedure").
② The Company shall provide Customers with information regarding: the method of filing disputes (including the designation and contact details of the officer in charge of dispute resolution and relevant personnel), the dispute resolution procedures (separately distinguishing between simple complaints and claims for compensation for damages), and the notification of dispute resolution results to Customers (including the processing period and method of notification).
③ If the Customer has any objection regarding the processing of a small amount overseas remittance transaction, the Customer may request resolution through the Company's dispute resolution body (including the officer in charge of dispute resolution and relevant personnel). The Company shall investigate the matter and notify the Customer of the result within the processing period specified under Paragraph 2.
④ The Company shall disclose on its website or through other appropriate means the designation and contact details of the officer in charge of dispute resolution and relevant personnel, and shall maintain such information in an up-to-date manner.

Article 14 (Retention of Transaction Records) The Company shall retain records of payment and receipt transactions with the Customer for five (5) years in accordance with the Foreign Exchange Transactions Act (Korean law) and other applicable laws and regulations.

Article 15 (Confidentiality) ① The Company shall not provide to any third party, disclose, or use for purposes other than its business operations any and all customer information obtained in the course of conducting the small amount overseas remittance business, including but not limited to personal information, account information, and details and records of remittance transactions with the Company (hereinafter referred to as "Customer Information"), except as otherwise provided under applicable laws and regulations or with the Customer's consent.
② If the Company violates Paragraph 1 or if theft or leakage of Customer Information occurs due to reasons attributable to the Company, including negligence in management, the Company shall be liable to compensate the affected Customer for damages. However, the Company may be exempt from liability if it proves that there was no willful misconduct or negligence on its part.

Article 16 (Provision and Explanation of the Terms and Conditions) ① When the Company establishes or amends these Terms and Conditions, it shall publicly disclose them on its website or through other appropriate means and shall clearly indicate the Terms and Conditions when entering into a contract with a Customer in connection with the small amount overseas remittance business.
② The Company shall provide a copy of the Terms and Conditions to the Customer by means of electronic transmission (including transmission by e-mail), facsimile transmission, postal mail, or direct delivery.
③ If the Customer requests an explanation of the contents of the Terms and Conditions, the Company shall explain the material terms and conditions to the Customer by any one of the following methods:
1. Providing a direct explanation of the material terms and conditions to the Customer;
or
2. Displaying the material terms and conditions in a manner that is easily understandable to the Customer through electronic devices and receiving, through such electronic devices, the Customer's confirmation that he or she has sufficiently understood such contents.

Article 17 (Applicable Laws) Matters not provided for in these Terms and Conditions shall be governed by the Foreign Exchange Transactions Act (Korean law) and other relevant laws and regulations.

Article 18 (Governing Law and Jurisdiction) Any dispute arising in connection with these transactions shall, in principle, be resolved by mutual agreement between the parties.
However, if the parties are unable to reach an agreement and litigation is initiated in connection with these transactions, the competent court shall be determined in accordance with the Civil Procedure Act (Korean law).

Effective Date
These Terms and Conditions shall take effect on January 1, 2020.

** These Terms and Conditions are originally drafted in the Korean language. The English version is provided for convenience only. In the event of any conflict, discrepancy, or difference in interpretation between the Korean version and the English version, the Korean version shall govern and prevail.