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CB Payments Service - Terms and Conditions

In order to protect your rights and interests, please read the terms of this Agreement carefully before signing this Agreement (especially those with boldface headings or boldface type). If you do not agree to all or part of this Agreement, please do not sign this Agreement.


1. Important Notice


1.1 By clicking the "I Agree" button below this Agreement, you are fully aware of and fully understand the content and meaning of this Agreement and are willing to be bond by it. after you click "agree" and approved by CB Payments,you will become our customer. This agreement is effective between you and CB Payments.

1.2 The obligations under this Agreement are subject to our acceptance of you as our customer and we have the right to decide unilaterally whether or not to accept you as our customer.

1.3 We may translate these clauses into other languages.In the event of any dispute or misunderstanding as to the interpretation of the language or terms of this Agreement, the English version shall prevail.

1.4 We will inform you in a timely manner of any significant changes to these terms and conditions by electronic methods, you are also obliged to consult them on a regular basis. you can view our current latest terms and conditions on our website at any time.

1.5 You acknowledge that CB Payments is an independent legal entity, not a branch of CBiBank. The account that you open with CB Payments is a payment account, and CB Payments will not pay any interest on any funds in it.

1.6 You acknowledge that you are not signing this agreement and using CB Payments services as a consumer, instead, you are in a professional or commercial personnel to use the services. You shall be solely responsible for understanding and complying with the laws and regulations of your country, as well as the laws and regulations that may apply to you in relation to your use of CB Payments services, including but not limited to, laws and regulations related to the following area or payment services: anti-money laundering and anti-terrorist financing requirements, consumer protection, privacy protection, anti-discrimination, gambling, false advertising, illegal sale or purchase or trading of any goods or services, and related import and export activities, taxes or foreign exchange transactions.

1.7 If you violate this Agreement or any other agreement signed with CB Payments, or if the risks were inspected when we checking your trading activities, we may close, suspend or restrict your use of CB Payments services. We can also limit your access to the funds according to the instructions of the related government agencies.

1.8 Protecting your privacy is an important task for us. please read our privacy policy carefully in order to understand our commitment to protect your privacy and to use or disclose your information.

2. Definition


In this Agreement, the following terms have the following meanings:

2.1 "Agreement" means terms and conditions, as well as attachments and any reference documents or appendix, including privacy policy.

2.2 "Customer" means any corporate body or organization in which “You”- who signed this Agreement and registered the CB Payments account in its name.

2.3 "Fees" means the amount of money that you pay us for the use of CB Payments services.

2.4 "Remitting" means the funds that transmit from the approved platform or payer to the designated payment account.

2.5 "Remittance" means the funds that transmit from the designated payment account to the approved platform or the payee/recipient.

2.6 "Remittance Order" means any order issued by the customer to the CB Payments requesting the transfer of funds to the approved recipient/payee.

2.7 "Approved payee/recipient" means a natural or legal individual/entities authorized by CB Payments.

2.8 "CB Payments"" or" We "or "us" are your partners.

2.9 "CB Payments Account" means the account that enable you to register and use the services of CB Payments.

2.10 "CB Payments account balance" means the amount of funds shown in your CB Payments account.

2.11 "CB Payments service certificate" refers to the certificate of the Receiving Account (including bank account, route number, IBAN, etc.) provided for the use of the service of CB Payments.

2.12 “CB Payments Services”or The service of CB Payments” means all payment-related services provided by CB Payments under this Agreement.

2.13 "Service providers" include banks, payment service providers, clearing networks and other third-party payment service providers used during the CB Payments service process.

3. Overview of CB Payments Services


3.1 CB Payments provide the following services for you, the customer;

(a) Receiving payments from the approved platform or payer to your CB Payments account;
(b) paying from your CB Payments account to the approved platform or recipient.

3.2 Depending on the following factors, CB Payments services may be limited or unavailable in a particular jurisdiction:

(a) the location of you, the platform and/or the payer;
(b) Regulatory requirements applicable to the areas under the jurisdiction of accounts;
(c) other similar factors reasonably determined by CB Payments.

3.3 In order to provide CB Payments services, CB Payments may rely on their own group, financial institutions, third-party banking institutions and/or payment providers, all of which are subject to abide by the local laws and regulations.


3.4 CB Payments is a payment company registered in Delaware, United States, under FinCen’s supervision.


3.5 CB Payments is an "independent Party that provides CB Payments services to its customers.CB Payments will not act as your trustee trustor or escrow. For the financial services providing to you, CB Payments only act as your agent, i.e. the recipient or payer.


4. CB Payments account


4.1 Eligibility. Opening a CB Payments account shall meet all the requirement bellowing:

(a) you can only use CB Payments services for commercial and business related activities.CB Payments services are intended to facilitate conduct related to commercial and business activities and are not applicable to use between individuals or private persons. to have a CB Payments account, you shall use it in the course of carrying out your own business, trade or profession, not for personal or family purposes or as a consumer. you hereby confirm and indicate that you are using our services for commercial purposes when using CB Payments services.

(b) You guarantee that you have full legal capacity to sign contracts. if you register CB Payments services on behalf of an enterprise or business organization, you guarantee that you have been legally authorized under the format documents of that business organization and/or under the laws of your country and have the right to agree to and accept this agreement.

4.2 Duties of CB Payments. except for our limited responsibilities in facilitating certain collection and payment under this agreement, we are not involved in any potential transactions between you and the buyer, platform, supplier, payer or recipient. You authorize us to hold, receive and issue funds according to your receipt and payment instructions or request. within this limited scope, we are neither a trustee nor a buyer or seller of your product or service, nor a party to a potential contracting parties. We can use the services of one or more group/companies and/or service providers to provide CB Payments services and issue transactions.


4.3 Validation. Your use of the CB Payments service must go through CB Payments' "KYC" ("KYC") and the approval process at the time of registration. We have the right to request you to provide (including but not limited to) your identity information, business information, and shareholder information for registering CB Payments account. You agree that CB Payments can take the necessary means to check and verify the information you provide, including by using a third-party mediation or information base to verify your identity. before or during the use of CB Payments services, we may require you to provide additional relevant business information and documentation, including but not limited to the identification documents, address or ownership certificates and other company documents that allow CB Payments to verify your individual or organizational shareholders. you agree to provide CB Payments with any information CB Payments require you to comply with their performance obligations within eight (8) natural days. Failure to provide information on such requirements may result in our refusal to provide you with CB Payments services. Under no circumstances shall we provide or be deemed to provide any tax amount, legal opinion, approval or proposal and its amount and time related to the payment of the bill, or any tax or legal opinion or other opinion regarding your relationship with the payee, or tax administration, or your tax, legal or business status or circumstances.


4.4 Account operation history. We will provide you with a summary of your CB Payments account activities through the CB Payments account website/app.

(a) Information on the settlement of recorded payments, fees and exchange rates will be displayed on the online transaction record of your CB Payments account.Please confirm the above information. If any errors are found, please check all transaction information and immediately notify CB Payments to request correction. If you did not notify CB Payments within 3 months from the date of the transaction is available, it will constitute your acceptance of the transactions listed in the CB Payments account.

(b) Unless otherwise required by law, you are solely responsible for (a) summarizing and keeping all transactions and other information related to your CB Payments account, as well as permanent records of your use of CB Payments services, and checking all collection and payment activities from your CB Payments account to ensure that they are authorized. CB Payments is not obliged to store, retain, report or otherwise provide any copies of records, documents or other information related to your CB Payments account and any transactions you submit through CB Payments services, except as provided in the applicable law after the termination of this agreement.

4.5 Processing and rejection. We will deal with transactions that we consider legitimate and authorized. you acknowledge and accept that, be compliance with anti-money laundering regulations or internal risk management decisions, CB Payments has the right to refuse payment, restrict payment or suspend the use of CB Payments accounts against you at any time. You are aware that transactions conducted within the framework of this Agreement may be subject to the authority of the United States Intelligence Community to require disclosure. You may consult all disclosed information relevant to you in accordance with applicable law, provided that your acquisition does not affect the purpose of combating money laundering and terrorist organization financing. You may not bring any legal actions against us or take any professional actions for reporting information to the relevant authorities on the basis of reasonable suspicion by CB Payments company directors and employees.


4.6 Restrictions on use. You agree that you will not:

- breach of this Agreement, Privacy Policy and any other agreement applicable to you;
- Violation of any applicable law and any laws or regulations of the country/region where your products or services are manufactured, purchased, stored or sold;
- engaging in illegal business or activities;
• Infringement or misappropriation of CB Payments or any third party's intellectual property rights, public rights or privacy;
- The sale of imitations that infringe the intellectual property rights of third parties;
• Providing false, inaccurate or misleading information;
• Refuse to cooperate in the investigation or confirmation of your identity or any information you provide to us;
• Sending or receiving funds that CB Payments reasonably believe which may involve money-laundering, terrorist financing or other illegal activities.

If CB Payments believe that you have any of the above restricted behaviors, we may at our own discretion to suspend or terminate your CB Payments account or refuse to provide you with any CB Payments services in the future.

4.7 A court order or regulatory action. If CB Payments have received court orders, regulatory orders or similar legal or government notices that may affect your CB Payments account, we may temporarily or permanently withhold, freeze, or even release to a third party, all or part of the funds in your CB Payments account as required.CB Payments will decide on our own discretion. Unless otherwise required by a court order, applicable law, regulatory requirements or other legal proceedings, we shall inform you of the above actions.CB Payments have no obligation to defend or appeal against any court order or legal proceedings involving you or your CB Payments account.


5. Remitting


5.1 Only the platforms or payments which is approved by CB Payments may be made to your CB Payments account for CB Payments’ permitted purposes. The approval of the platform or payment shall be decided by CB Payments's sole discretion. The payments without CB Payments’ approval may be rejected. Any costs and expenses related to the rejected payment shall be borne by your own cost(if applicable). You undertake that the funds which is receiving through CB Payments services does not violate the agreement with the platform.


5.2 You can charge with USD and other currencies.


5.3 After you open your CB Payments account, you can provide the account information to the platform or recipient that you wish to receive payment through CB Payments services. please note that you are not allowed to perform any activities beyond the scope of CB Payments services.


5.4 CB Payments services only accept wire transfer, the services of remitting and remittance do not support cash, credit card payments.


6. Remittance


6.1 You should ensure that the information should include the following list when the remittance are initiated:


a) Currency type and the amount of remittances;
b) Recipient’s Account name and account number;
c) Receiving bank information, including receiving bank’s name, bank address, bank code (such as Swift number, ABA, IBAN, etc.);
d) other information required by CB Payments Inc to make remittances as required by law

6.2 If the information provided by the customer is incomplete or incorrect due to technical problems, CB Payments may refuse to execute the remittance instruction.


7. Foreign Exchange Settlement and Withdrawal Services


7.1 CB Payments foreign exchange Settlement and Withdrawal Services. After your receiving account receives the relevant transaction funds, (i) you can submit a corresponding withdrawal request ("Foreign Exchange Settlement and Withdrawal Instructions") to CB Payments, and instruct CB Payments to pay part or all of your transaction funds (after deducting related service fees) to your designated bank account; (ii) CB Payments will remit your corresponding foreign currency transaction funds through a cooperative third party (including a bank or payment company, if applicable) which within and outside China, to your designated bank account, in accordance with your Foreign Exchange Settlement and Withdrawal Instructions. Meanwhile, in the process of funds processing, carry out the corresponding balance of payments declaration and comply with other relevant national and regional laws and regulations (if any). The above services are collectively referred to as "CB Payments Foreign Exchange Settlement and Withdrawal Services".


7.2 You understand and agree that, for the purpose of using CB Payments Foreign Exchange Settlement and Withdrawal Services, CB Payments will synchronize your identity information and transaction information to CB Payment’s cooperative third parties in real time. You also agree that CB Payment’s cooperative third parties will handle the balance of payments declaration for you in accordance with the procedures required by relevant laws and regulations(if applicable).


7.3 CB Payment will urge the cooperative third party to remit the funds to your designated bank account within a reasonable period after receiving your transaction funds. Meanwhile, CB Payment will also settle your transaction funds to your designated bank account through a cooperative third party (if applicable) after receiving your Foreign Exchange Settlement and Withdrawal Instructions and the corresponding transaction funds. You agree that if the time of receiving your Foreign Exchange Settlement and Withdrawal Instructions by CB Payments or the cooperative third party or the time for settlement of funds is non-working time of the local bank, CB Payments or the third party will postpone the work to the next working day of the local bank.


7.4 You understand and agree that when CB Payments remits your transaction funds to your designated domestic (China) bank account in accordance with your Foreign Exchange Settlement and Withdrawal Instructions, and it may be necessary to enter the foreign exchange settlement and sales information and related income and expenditure information (if any) involved in your transaction into the corresponding foreign exchange administration system according to Chinese laws and regulations and/or regulatory requirements. In addition, if transaction funds cannot be remitted, cannot be exchanged, or money after exchange cannot be settled to your designated bank account due to restrictions of laws, regulations and government policies, CB Payments will not be responsible for any responsibility. If the settlement amount corresponding to any of your Foreign Exchange Settlement and Withdrawal Instructions does not comply with the relevant cross-border settlement laws and regulations, CB Payments has the right not to execute this instruction. You shall bear the exchange losses that may occur due to the exchange rate difference between the two exchanges before and after the settlement funds, as well as the relevant bank fees and/or the corresponding handling fees (if any) paid by CB Payments.


7.5 You must ensure that your Foreign Exchange Settlement and Withdrawal Instructions, including but not limited to your designated bank account and the settlement and withdrawal amount, are accurate. If occurs the relevant fund transfer error due to your Foreign Exchange Settlement and Withdrawal Instructions, CB Payments will not take any responsibility. If the remittance or the withdrawal of foreign exchange is rejected due to your Foreign Exchange Settlement and Withdrawal Instructions (including the situation where your Foreign Exchange Settlement and Withdrawal Instructions are rejected due to non-compliance with laws and regulations or regulatory requirements), you will bear all the expenses incurred, and you agree to CB Payments has the right to deduct the corresponding fees directly from your receiving account balance.


7.6 You understand and agree that your Foreign Exchange Settlement and Withdrawal Instructions are irrevocable once issued.


8. Cost


8.1 CB Payments may charge all the fees listed in CB Payments website and CB Payments account.CB Payments have the right to act reasonably and inform you that CB Payments may adjust the standard of costs or add any new kind of fees. You acknowledge that your continued use of CB Payments service means you accept all the fees and agree to pay all the fees. When we adjust the standard of the fees, we will release the updated cost in your CB Payments account and send the notice. If you have any questions or are not clear about any fees, you can contact CB Payments to obtain the customer support.


8.2 The amount of the remittance and the costs arising from the transaction will be directly deducted from your account.


9. Termination and suspension


9.1 If you wish to terminate this Agreement or your CB Payments account, you can stop using CB Payments services. The terms and conditions of this Agreement, warranty, disclaimer, liability and limitation of liability shall remain in full force even after the termination of this Agreement.


CB Payments can suspend or terminate some or all of the CB Payments services to you at any time for any reason. If possible, we will give at least one (1) month's notice by email, unless exceptional circumstances or regulatory circumstances (including but not limited to court or government orders) result in CB Payments must take immediate action, e.g.,(a) you providing false, misleading, incomplete or inaccurate information or other dishonest conduct;(b) you violate this agreement or any other agreement ;(c) your CB Payments account is damaged or for other security reasons; (d) you engage in fraud, money laundering, terrorist financing or other illegal activities, or we have the above reasonable suspicion ;(e) you use CB Payments services in accordance with the applicable law involving illegal acts or fraud, or we have the above reasonable suspicion; or (f) we have other suitable reasons. We will send notice of termination / suspension of service, and we will also provide instructions on how to withdraw the remaining funds if the applicable law does not prohibit.

9.2 When your CB Payments account is suspended or terminated, any continued attempt to use CB Payments services will result in your funds being rejected and returned to the platform and may be notified to the relevant department as required. You are solely responsible for any expenses related to the rejected payment.


10. Use CB Payments Services In Safety


10.1 You should properly protect your CB Payments account, password and service certificate, as well as computers, mobile phones or other equipment from any risk of loss, embezzlement, unauthorized use.


10.2 If any of the following occurs, please contact Us immediately:

(a) if you find any loss, theft, embezzlement or unauthorized use of your CB Payments account;
(b) within 3 months after the date of debit/loan, you find any unauthorized or incorrect settlement request or transaction.

10.3 CB Payments will keep you informed in the appropriate manner.


11. Limited liability


11.1 CB Payments or its service provider are not responsible for any of the bellowing, nor are we responsible for any contractual liability, negligent liability, strict liability or other legal or equitable principle:(i) any special, incidental or indirect damage;(ii) purchase costs of alternative services ;(iii) interruption of use, or loss or damage of information; or (iv) amounts exceeding the full amount that you paid to CB Payments under this Agreement within 12 months prior to the appearance of the cause of action; any failure or delay which is beyond the reasonable control.


11.2 For any credited/recorded payment, you hereby exempted the corresponding payment liability of the Platform, i.e. the related payment CB Payments received from the Platform and will be settled to you through CB Payments in the future.


11.3 Payment orders may be executed only if they meet the regulatory requirements. CB Payments shall not bear any damage that may result from the inaccurate, incomplete or incorrect information (provided by you) which caused CB Payments fails or mistakenly executes the billing instructions. In the case of VAT payment in the European Economic Area, the payment instruction is executed in accordance with the relevant approved payee’s International Bank Account Number (IBAN), provided that such bank account is held by the EEA’s bank (“unique identifier”) ). If the unique identifier provided by you is different from any other information, CB Payments only rely on the unique identifier to execute the instruction without any liability. In this case, the funds under the relevant payment instructions transmitted by you will be deemed to have been transferred to the intended beneficiary. If the unique identifier provided by the customer is incorrect, as long as CB Payments execute the instruction according to the unique identifier shown, the CB Payments will not be liable for any damage that may result from the failure or incorrect execution of the billing payment instruction, you will bear full responsibility on your own risks.


11.4 You acknowledge that CB Payments may provide CB Payments services by using facilities which may be provided by banks, payment service providers, clearing networks and other third-party payment processing services. There is no business agreement between the service provider and you, so each service provider does not take any direct responsibility for you.


11.5 You shall be fully responsible for reporting all funds used for CB Payments services to the relevant government tax authorities, and paying any related taxes applicable to such payments and fulfilling any other relevant reporting requirements, including but not limited to: any customs or foreign exchange controls.


11.6 Neither party shall be deemed to be in breach of contract or liable for breach of contract due to force majeure resulting in delay in performance or non-performance of the obligations.


12. Other agreements


12.1 Obtain this Agreement. the terms of this agreement have been provided to you before the agreement become effective and are thereafter available on our website.During the terms of the contractual relationship, you have the right to receive and accept the terms and conditions of this agreement at any time.


12.2 Change of agreement. we may update CB Payments services, which means that sometimes we have to change the terms and conditions of this agreement.CB Payments may at its own discretion to amend, modify or update this Agreement. If we make any important changes, we will inform you by email or otherwise. If you disagree with the changes, then you should stop using CB Payments service immediately. Your continue using of CB Payments Services will be deemed as you agree with the updated agreement. However,any transaction or dispute that occurred before the agreement has been changed, it shall be subject to the agreement which is already signed when the transaction or dispute occurred.


12.3 Service providers.CB Payments have the right to allow third parties to provide CB Payments services.CB Payments may require that complete or partial service procedures be handled directly through these third parties, as stated in the privacy policy.


12.4 Anti-Money Laundering & Anti-terrorist Financing Compliance. CB Payments is bound by the applicable law on anti-money laundering and anti-terrorist organization financing. CB Payments therefore reserve the right to obtain information from you, including but not limited to, information about your identity, business transactions, business relationships, and/or financial information. Moreover, CB Payments must take all necessary steps to confirm you and (if applicable) the beneficial owner of the CB Payments account and/or any recorded payments related to the CB Payments account. you acknowledge that even without sufficient information about its purpose or nature, CB Payments can terminate or delay the use of login information at any time, access accounts or execute transactions.


12.5 Severability. Invalidity or unenforceability of one or more provisions of this Agreement shall not affect any other provision of this Agreement. If possible, any unenforceable provision within this Agreement will be modified to reflect the parties’ original intention of interest. The same approach applies to the case of regulatory gaps.


12.6 Compensation. you agree to indemnify, defend and protect any third party against the claims of directors, officers, employees and agents of CB Payments’ parent company or subsidiaries and their companies as a result of your use of CB Payments services to exempt CB Payments from any compensation and expenses (including attorney fees). You agree to compensate CB Payments for any fees or taxes levied from CB Payments due to your business activities, or any fees associated with the services that CB Payments provide to you. You authorize CB Payments to recover any such government fees or taxes from your CB Payments account.


12.7 Disclaimer. CB Payments and its service providers hereby declare that they do not undertake any express or implied warranties, including but not limited to warranties of marketability, specific use and non-infringement.CB Payments and their service providers do not guarantee that there will be no errors in the service or that access rights will remain continuous and uninterrupted. You understand the content or service you have decided to download or otherwise obtain through our CB Payments service is at your own risks.


13. Jurisdiction


13.1 Application of Law. this agreement is governed by and construed in accordance with the laws of the United States and the State of Delaware, regardless of the principle of conflict of law that it may requires, the laws of the United States and the State of Delaware apply to all matters relating to the legal existence of CB Payments, corporate powers, rights and other corporate affairs.


13.2 Dispute. You hereby agree that any dispute, claim or argument arising under this agreement or with our services, regardless of the nature of the alleged cause of action,it shall be negotiated at first. In the absence of friendly negotiation, the dispute shall be settled by the State Court of Delaware, which reserves the right to waive the jury trial. Any cause of action shall commence within one year from the filing of the claim/motion or filing for an appeal.