This remittance amount (the “Remittance”), including any previous Renminbi ("RMB") remittance(s) that the beneficiary received within this year, will not exceed his/her annual settlement limit of USD 50,000 (subject to the prevailing rules and regulations governing the same in People’s Republic of China).

Any excess in this limit will result in return of the entire Remittance by the receiving bank (the “Recipient Bank”) and the returned amount will be subject to changes in exchange rate and service fees.

Furthermore, you acknowledge and confirm that you cannot dispute with Industrial and Commercial Bank of China (Canada) (the “Bank”) in this regard. You acknowledge that you are responsible for ensuring that all information related to the intended recipient (the “Recipient”) and the bank at which the Recipient should receive the Remittance(s) (the “Recipient Bank”) that our Bank may require, is correct.

Our fee is non-refundable. Additional fees and/or taxes may be deducted from the Remittance amount by the Recipient Bank.

We make no representations or warranties on the timing of delivery of the Remittance(s) to the Recipient.

Once you request our Bank to send the Remittance(s)and the funds/fees have been withdrawn from your account (the “Account”), the Remittance(s) may not be cancelled.

If you request that the Remittance(s) be made in a currency other than that of your Account (the “Requested Currency”), we will convert the funds into the Requested Currency after withdrawal from your Account. The rate of exchange will be our rate, established at the time the funds are converted. We make no representations or warranties that the Remittance(s) will be received by the Recipient in the Requested Currency. You accept all risk of all fluctuation of exchange rates between the date we accept your Remittance(s) request and the date of payment to the Recipient or date of refund to you. If payment cannot be made for any reason in the Requested Currency, you authorize payment in the currency of the place of payment at either the Recipient Bank’s spot rate of exchange for its sale of currency of the place of payment in exchange for the Requested Currency (such exchange, a “Local FX Conversion Transaction”). We derive income from the difference (the spread) between the prices we bid to buy and offer to sell foreign currency. Our spreads may differ from time to time across currencies and can widen (without prior notice) due to volatile market conditions for example. The spread is reflected in the price we quote for the Requested Currency of the Remittance(s) you request. The price of any Local FX Conversion Transaction will also include a spread charged by the Recipient Bank.

If the Remittance(s) is/are declined or unclaimed by the Recipient, or is/are not completed, we will attempt to obtain a refund at your request from the Recipient Bank. If the funds are returned in the same currency as the Remittance(s), we will convert the funds into Canadian dollars first at the same exchange rate that was applied to send the Remittance(s). If funds are returned in a different currency than the Remittance(s), the rate of exchange will be our rate, established at the time the funds are converted, which will include a spread. We shall not be liable to refund you any amount which was not refunded to us.

You agree that your request for the Remittance(s) and our ability to complete it will be subject to Settlement Rules and Applicable Laws and that the Bank may take any steps they consider necessary to comply with the Settlement Rules or Applicable Laws. “Applicable Laws” means laws, regulations, orders, guidelines, undertakings, memoranda of understanding or directives of foreign or domestic governmental authorities or regulatory bodies that apply to the Bank, whether or not these have the force of law. “Settlement Rules” means the rules, procedures, internal policies, standards or bylaws used by the Bank, or to which the Bank may be subject.

To comply with the Settlement Rules or Applicable Laws, our Bank may disclose any information about you and the Recipient to a foreign or domestic government authority or regulatory body. On behalf of you and the Recipient, you i) consent to such disclosure, and ii) acknowledge that the confidential information may be accessed by foreign or domestic authorities or regulatory bodies as a result. You confirm that you have the authority to make such consent and acknowledgements on behalf of the Recipient.

We may suspend or cancel your ability to use the Remittance service (the “Service”) or decline to complete the Remittance(s) for any reason without notifying you in advance.

We may change any of the terms of this Agreement, fees, and / or Service features or terminate this Agreement for any reason at any time with or without prior notice.

You will not use the Service for any illegal, fraudulent or improper purposes.

You understand and agree that, except as otherwise provided in this Agreement, and in addition to those limitations on the Bank’s liability set out elsewhere in this Agreement, we are liable to you only for direct damages resulting from our gross negligence, fraud or willful misconduct arising directly from our performance of our obligations under this Agreement; we will not be liable to you for any other direct damages. In addition, we will not under any circumstances be liable to you for any other damages, including, without limitation, indirect, incidental, special, punitive or consequential losses or damages, loss of profits, loss of revenue, loss of business opportunities, or any other foreseeable or unforeseeable loss resulting directly or indirectly out of this Agreement or the Service provided to you, even if we were advised of the possibility of damages or were negligent. These limitations apply to any act or omission of the Bank, its affiliates, agents or suppliers, whether or not the act or omission would otherwise give rise to a cause of action in contract, tort, statute or any other doctrine of law. Gross negligence in this paragraph means conduct (whether through action or inaction, or through words or silence) which is (i) a marked and flagrant departure from the conduct ordinarily expected of a reasonable and prudent person in the position of the Bank, or (ii) so wanton and reckless as to constitute an utter disregard for harmful, foreseeable and avoidable consequences.

This Agreement will be governed by and interpreted in accordance with Canadian law and the laws of the province or territory in which you live or, if you do not live in Canada, the applicable laws of the province of Ontario. You agree to submit to and be bound by these laws and the courts of that province or territory in the event of any disputes arising in connection with the Service or this Agreement.

Our failure to exercise or delay in exercising any rights does not waive any default or prevent us from enforcing those rights later.

If you continue this transaction, that means you accept the above Terms and Conditions.