Terms of Use

Ceylon Exchange Terms of Use 

 General

1. The website www.ceylonexchange.com.au is owned by Ceylon Exchange Pty Ltd. This website is offered to you on the condition that you accept without modification the terms, conditions, disclaimers and privacy policies contained herein. Your use of the website constitutes your consent to all such disclaimers, privacy policies, and other terms & conditions.
2. The website will include our customer portal which allows you to book transactions, enter beneficiary account details and access information about your account online, and any other services associated with it. You may also obtain some or all of the services by telephone or email, in which case the terms and conditions will also apply to the extent that they are relevant.
3. Ceylon Exchange reserves the right at all times to disclose any information necessary to satisfy any applicable law, regulation, legal process or governmental request. We also reserve the right to edit, refuse to post or to remove any information or materials, in whole or in part, at Ceylon Exchange’s sole discretion.
4. By accessing, registering with and requesting to use the Service, you agree to be bound by these Terms and Conditions. You do not have a standing arrangement to make Transactions; we can decide at our discretion whether or not to permit any Transaction you request. If you do not wish to be bound by the Terms and Conditions do not access, register with, or use the Service.

 Conditions of Service

5. In order to access and use the website and avail of any facility you must be an individual of at least 18 years of age who can enter into legally binding contracts under applicable law, or an authorized person of a company, trust, incorporated or unincorporated association which can enter into legally binding contracts under applicable law
6. Your request to Ceylon Exchange to effect a remittance is an acknowledgement on your part to pay all applicable charges. In addition to the charges of Ceylon Exchange our affiliate banks in the beneficiary country may also deduct their charges before making the payment or crediting Beneficiary’s account. You have access to current charges upon request or through our website
7. Payments in currencies other than Australian Dollars would be made using the exchange rate current at the time of processing the transaction by Ceylon Exchange. The applicable exchange rate would be determined by Ceylon Exchange.
8. Ceylon Exchange reserves the right to claim any payment made to you following presentation of a counterfeit note or notes. It is your responsibility to bring back any such payments.
9. We undertake to process payments during business hours as stated on our website once we have the confirmation of receipt of money in Ceylon Exchange accounts and on receipt of complete payment instructions from duly registered customers of Ceylon Exchange. Payment of money over-the-counter or crediting beneficiary’s account will take place within the time specified by Ceylon Exchange, subject to the hours of operation of affiliated banks for this service and other special conditions.
10. Ceylon Exchange will only process payments once satisfied without any ambiguity of identity of the depositor or remitter of a credit to our account. Therefore, the onus is with you to provide depositor’s details such as Ceylon Exchange customer reference number or unique transaction reference number when money is deposited.
11. Payments will be processed as per the instructions received by Ceylon Exchange by fax, email, through its website or oral instructions over the telephone. Such instructions received at Ceylon Exchange or taken down by its employees would be the basis for processing payments. Ceylon Exchange will not process payments if minimum required data is not received and will not be responsible for delays. However, Ceylon Exchange will communicate this to you if the customer is unidentifiable.

Communication and Electronic Delivery of Future Disclosures

12. Ceylon Exchange will communicate with you in the process of effecting payment instructions, forwarding marketing information and for all other future disclosures through the contact details available to Ceylon Exchange. You agree to accept all such subsequent communication and disclosures between you and Ceylon Exchange at the primary contact details provided by you during registration. Our primary contact method would be your telephone number and email address. In the event that your primary contact details change, you must notify Ceylon Exchange and ensure your details are updated.

Risk Disclosure Clause

13. Transactions involving bullion or foreign currency carry inherent risks, including but not limited to:
    • Price Volatility: The value of precious metals and foreign currency may fluctuate due to market conditions, geopolitical events, and economic factors.
    • Liquidity Risk: The ability to sell bullion or foreign currency at a favourable price is not guaranteed and may be subject to market demand.
    • Counterparty Risk: Delays or failures by third parties (such as banks or bullion providers) may impact the completion of transactions.
    • Regulatory and Legal Risks: Changes in government policies, taxation, or financial regulations may affect the value or legality of transactions.

Customers acknowledge and accept these risks before proceeding with any transaction with Ceylon Exchange.

Refunds and Overpayments

14. Ceylon Exchange, its director/s, employees, agents and affiliates will take utmost care to process customer transactions as per the instructions received on time, without negligence on their part. In the event such payments have not been processed as per the advertised guidelines, due to an omission or error on the part of Ceylon Exchange, the Company agrees to refund the fees charged to you. Ceylon Exchange will take prompt action to resolve such matters on its own or liaising with its affiliates to minimize the effect to the customer and the beneficiary.
15. In the event of overpayment by either party, the overpaid party agrees to refund such amount back to the other party. If the customer overpays us erroneously, the customer should send us a refund request in writing and refund can take up to 3 working days.
16. If the recipient doesn’t receive the money, customer should contact us within 30 days after the date of the transaction and allow us 7 days to investigate the reason for the delay
17. After the funds are made available for collection by the recipient, we may not be able to successfully cancel the order as cancellation procedures with our partners differ in length and complexity. If the customer chose to cancel the transaction in such events, Ceylon Exchange will have the right to retain the fees and losses arising from exchange rate losses to receive such funds back from the partners
18. Customers cannot cancel or reverse any foreign currency exchange or bullion transactions once the transaction is completed and paid. Price fluctuations do not warrant refunds or buybacks, as currencies and bullion prices are subject to live market rates. Ceylon Exchange is not liable for any loss in value after the transaction is completed.

Anti-Money Laundering and Counter-Terrorism Financing Compliance

19. Ceylon Exchange abides with the requirements under Anti-Money Laundering and Counter-Terrorism Financing regulations currently in force in Australia and requirements of our Affiliates in other countries as per their own laws and regulations. In meeting these requirements, we would provide details of your transactions to the Regulatory Authorities as per their guidelines. For this purpose and the business requirements of Ceylon Exchange, you agree to provide true, accurate, complete and current information and documents to Ceylon Exchange. You shall indemnify Ceylon Exchange for any loss caused to them due to your provision of such untrue, inaccurate, incomplete or not current information and Ceylon Exchange will not be responsible for any damages, losses or claims made against them.
20. Transactions may be delayed, blocked, frozen or cancelled where we have reason to believe processing such Transaction requests would violate anti-money laundering or counter-terrorism financing laws and regulations including sanction laws of destination country. We may from time to time require additional information from you to assist us in the compliance process. You shall indemnify us against any potential losses arising from any breach by you of such undertakings.

Taxing and Reporting Obligations on Bullion Transactions

21. Customers engaging in foreign exchange or bullion transactions with Ceylon Exchange are responsible for understanding and complying with any applicable taxation laws in their respective jurisdictions. This includes, but is not limited to:
    • Goods and Services Tax (GST): Certain transactions may attract GST, depending on the nature of the service.
    • Capital Gains Tax (CGT): Any gains or profits derived from currency or bullion transactions may be subject to CGT under Australian tax laws.
    • Regulatory Reporting Requirements: Ceylon Exchange may be required to report transactions to relevant tax or financial authorities under Australian law or international agreements.

Customers are encouraged to seek independent tax advice regarding their specific obligations.

Intellectual Property

22. The website, the content, and all intellectual property pertaining thereto and contained therein (including but not limited to copyrights, patents, database rights, trademarks and service marks) are owned by Ceylon Exchange or third parties, and all right, title and interest therein and thereto shall remain the property of Ceylon Exchange and/or such other third parties. This website and the services offered by it may be used only for the purpose permitted by these Terms and Conditions. You are authorized solely to view and retain a copy of the pages of the website your own personal, non-commercial use.

Limitation of Liability

23. Ceylon Exchange has endeavoured to ensure that all the information on the website is current and correct, but Ceylon Exchange neither warrants nor makes any representations regarding the accuracy or completeness of any data or information contained therein. Ceylon Exchange disclaims any liability, responsibility or any other claim, whatsoever, with respect of any loss, whether direct or consequential, to any user or any other person, arising out of or from the use of the website or the information contained on the Ceylon Exchange website.
24. Ceylon Exchange and its owners, employees, partner websites, agents and other affiliates shall not be liable for delay, non-delivery, non-payment or underpayment of a remittance whether caused by error, omission or negligence on the part of its employees or agents, to the maximum extent permitted by Law.
25. Ceylon Exchange does not guarantee the delivery or suitability of any goods or services paid for by means of a remittance. Your transaction data is confidential to you and should not be shared with any other person other than the receiver. You are cautioned against sending money to any person you do not know. In no event shall Ceylon Exchange, its owners, directors, employees, agents or affiliates be liable if you communicate transactional data to any other person other than the receiver, or other party relevant to the remittance.
26. If any of the terms and conditions is not acceptable to you having gone through the same in the website or received manually, or you disagree with any material on the website, your sole and exclusive remedy is to discontinue the use of the website or the services of Ceylon Exchange.

Force Majeure

27. Ceylon Exchange shall not be liable for any failure or delay in performing its obligations under these Terms and Conditions if such failure or delay is due to circumstances beyond its reasonable control. These circumstances include, but are not limited to:
    • Acts of God (earthquakes, floods, fires, etc.)
    • War, terrorism, civil unrest, or political instability
    • Pandemics, or public health emergencies
    • Cyber attacks, power failures, or internet disruptions
    • Regulatory changes, government actions, or legal restrictions
    • Economic crises, market disruptions, or currency restrictions

In such cases, Ceylon Exchange reserves the right to suspend or terminate services without notice until normal operations can resume.

Dispute Resolution

28. If any dispute arises between you and Ceylon Exchange during your use of the website or thereafter, in connection with the validity, interpretation, implementation or alleged breach of any provision of the Terms of Use or the privacy policy, our goal is to understand and address your concerns.

If the dispute is not resolved, it shall be referred to arbitration under applicable arbitration rules. The place of arbitration shall be Sydney, NSW. The arbitration proceedings shall be in the English language. The Terms and Conditions shall be governed and construed in accordance with the laws of Australia.

Indemnity

29. You agree to fully indemnify, defend and hold harmless Ceylon Exchange, and all its officers, directors, owners, agents, employees, affiliates, in respect of any damages, losses, liabilities resulting from your use of the website, including the services offered, without limitation, and/or your violation of these Terms and Conditions.

 Disclaimer of Warranty

30. Ceylon Exchange expressly disclaims any representation or warranty that the website will be free from errors, viruses or other harmful components, that communications to or from the site will be secure and not intercepted, that the services and other capabilities offered from the site will be uninterrupted, or that its content will be accurate, complete or timely. Any material downloaded is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
31. Other than those warranties which, under the laws applicable to these terms, are implied by laws, and are incapable of exclusion, restriction or modification, Ceylon Exchange expressly disclaims all warranties and conditions, including implied warranties, fitness for a particular purpose, title, non-infringement, and those arising by statute or otherwise in law.
32. The website may contain links to other website which are not maintained or controlled by Ceylon Exchange. We make no representations or warranties whatsoever about any third party site. The Website provides these links as a convenience only. A link does not imply endorsement of, sponsorship of, or affiliation with the linked site.

 Modification of Terms and Conditions

33. Ceylon Exchange may with or without giving notice, change the terms, conditions and notices under which the Ceylon Exchange website is offered, including but not limited to the charges associated with the use of the Ceylon Exchange services. We request the user to regularly review these terms and conditions.

Contact Information

34. If you have any questions or concerns about these terms or if you need further assistance with respect to access to or use of the site or the services offered by Ceylon Exchange, you may contact us directly at:

Ceylon Exchange
1/1 Station Street
Auburn NSW 2144
Australia
Phone: 0297497775

Last Updated: March 2025