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OFX PLN – Supplementary Terms and Conditions

These supplementary terms are in addition to and must be read in conjunction with:

a) OFX’s Customer Agreement;

b) OFX’s Global Currency Account Terms; and

c) OFX’s Privacy Policy,

(together, “OFX Terms”).

Terms used but not defined in these supplementary terms shall have the meaning given to them in the OFX Terms.  To the extent of any inconsistency between the OFX Terms and these supplementary terms, the supplementary terms shall prevail.

OFX is happy to provide you with a PLN-denominated Global Currency Account (“PLN GCA”) on the following basis:

  1. You consent to use the PLN GCA in accordance with these supplementary terms.
  1. You acknowledge that the PLN GCA does not support incoming split-VAT payments made in accordance with Article 1081 of the Polish VAT Act of 11 March 2004 (Journal of Laws of 2022 position 931 with further changes) (“Polish VAT Act”).
  1. Your use of the PLN GCA can only be used for the receipt of funds from marketplaces and payment gateways.
  1. When selling your products to customers and using OFX as payment service provider: 
    1. you will ensure that your customers are consumers, and not businesses; and 
    2. you will not issue the details of the PLN GCA directly to your customers.
  1. If you do sell a product to a customer that is a business, you undertake to: 
    1. obtain the bank account details of that customer; and
    2. return any funds representing value-added tax to that customer,

in each case to ensure compliance with Polish VAT Act. 

  1. You represent and warrant that you are duly authorised to agree to these supplementary terms and by doing so you do not breach any contract or agreement by which you are bound.
  1. You agree to indemnify, defend and hold harmless OFX and its successors, assigns, directors, officers and employees against all losses, claims, costs and expenses, including legal costs, arising from or in connection with: 
    1. all disputes or claims by a marketplace or any other person claiming an interest in the funds held in the PLN GCA; 
    2. any breach of your representations or obligations under this agreement; and
    3. any regulatory actions, fines and penalties applied by any Polish governmental or regulatory body relating to OFX’s compliance with the Polish VAT Act.

These supplementary terms shall be interpreted in accordance with the laws of Ireland. Both you and we submit to the exclusive jurisdiction of the courts of Ireland, except for an action for injunctive relief, which may be brought in any appropriate jurisdiction.