WorldFirst Reward Promotion Terms & Conditions

These terms and conditions (these “Terms and Conditions”) govern the Promotion (as defined below). By participating in the Promotion, you confirm that you accept these Terms and Conditions and agree to comply with them.

1. Definitions and Interpretation

In these Terms and Conditions, the following words and expressions shall have the following meanings:

1.1 “Rakuten” means Rakuten France S.A.S. with company registration number 432 647 584 and whose registered office is 92 Rue Réaumur, 75002 Paris, France;

1.2 “FX Transaction” shall have the meaning given to such term in clause 4.1;

1.3 “ICC” means the International Chamber of Commerce;

1.4 “Monthly Transaction Threshold” shall have the meaning given to such term in clause 4.1;

1.5 “Participant” shall have the meaning given to such term in clause 2;

1.6 “Promotion” shall have the meaning given to such term in clause 2;

1.7 “Promotion Period” shall have the meaning given to such term in clause 3;

1.8 “Reward” shall have the meaning given to such term in clause 5.1;

1.9 “Reward Criteria” shall have the meaning given to such term in clause 4.1;

1.10 “WorldFirst” means World First Netherlands B.V.; and

1.11 “World Account Terms” means the terms and conditions, including the privacy policies, governing the World Account service provided by WorldFirst.

2. Description of the Promotion

A participant in the Promotion (a “Participant”) that satisfies the Reward Criteria during the Promotion Period may be eligible to receive the Reward (the “Promotion”).

3. Promotion Period

The “Promotion Period” is the period beginning on 09 August 2024 and ending on 31 December 2024 (both days, inclusive).

4. Reward Criteria

4.1 A Participant may be eligible to receive a Reward provided such Participant:

a. was not, and has not been, a customer of World First prior to the Promotion Period;

b. during the Promotion Period, successfully registers for a World Account using registration code: RAKEXP and completes WorldFirst’s onboarding process;

c. prior to, or during, the Promotion Period, successfully registers for a Rakuten’s Expert Package and completes the onboarding process; and

d. uses its World Account to successfully complete one or more cross-currency transactions (each, an “FX Transaction”) of an aggregate value of at least €1,000 per month (or an equivalent amount in an alternative currency) (the “Monthly Transaction Threshold”),

(together, the “Reward Criteria”).

5. Reward

5.1 Participants who meet the Monthly Transaction Threshold in a specific month will receive a reward of €49 for that month which is to be credited towards the cost of the Rakuten Expert Package (the “Reward”). Eligible Participants may receive the reward up to six times where the Monthly Transaction Threshold is satisfied in six separate months.

5.2 Participants may be eligible to receive the Reward for up to twelve months from the eligibility.

5.3 The Reward shall be credited into the relevant Participant’s Euro denominated sub-account of its World Account (subject to the Participant satisfying the Reward Criteria and successfully passing WorldFirst’s review process) on a quarterly basis. Such Euro sub-account must be valid, open and functioning, and must not be suspended, cancelled, and/or terminated at the time the Reward is credited to such sub-account.

5.4 Participants who do not meet the Monthly Transaction Threshold shall not receive the Reward and will be responsible to paying for the cost of the Expert Package for that month.

5.5 WorldFirst has the sole discretion to delay the crediting of the Reward for any reason that it deems appropriate, including for the purposes of assessing the eligibility of the relevant Participant.

5.6 The Reward is not transferable or exchangeable for cash, credit, products, or privileges or other benefits or payments in kind, whether in full or in part, and is not refundable or replaceable.

5.7 A Reward cannot be used in conjunction with other discounts or promotions, unless otherwise stated.

5.8 Should WorldFirst determine, in its sole discretion, that a Participant is not eligible to receive the Reward or to participate in the Promotion for any reason (including but not limited to a breach of these Terms and Conditions or any applicable laws or regulations, improper use of any information relating to the Promotion, fraud, attempted fraud, or any other illegal or illegitimate activity), or where WorldFirst has knowledge of events which would mean that the Participant would not have been entitled to receive the Reward (including but not limited to where the transactions of such Participant were or will be reversed or refunded), WorldFirst has the right to disqualify such Participant and shall not be liable to any such Participant. WorldFirst further reserves the right to claw back the Reward or to deduct the value of the Reward from the Participant’s World Account.

6. Further Terms

6.1 WorldFirst shall not be responsible for settling any amounts owed or payable between the Participant and Rakuten.

6.2 WorldFirst reserves the right to, in its sole discretion, determine and/or decide all matters relating to or arising in connection with the Promotion and/or these Terms and Conditions without prior notice. Any such determination and/or decision will be final and binding.

6.3 To the extent permitted by applicable law, WorldFirst reserves the right to amend the terms of the Promotion, and/or to suspend or cancel the Promotion at any time, without liability to any party. WorldFirst also reserves the right to extend the Promotion Period, or any other deadline herein, in its discretion and these Terms and Conditions shall apply to any such extended Promotion Period or deadline, as applicable. Any amendments to the Promotion will be published on the Promotion webpage and/or notified to participants in an appropriate manner. Following any change or amendment to these Terms and Conditions, your continued participation in the Promotion constitutes your acceptance of the amended Terms and Conditions and the Promotion in force at that time.

6.4 All FX Transactions are subject to standard compliance and due diligence requirements.

6.5 Each Participant in the Promotion warrants that:

6.5.1 it is legally able to participate in the Promotion according to the laws and regulations applicable to it, and is fully authorised to do so;

6.5.2 to the best of its knowledge, all information disclosed by it to WorldFirst is complete, true and accurate;

6.5.3 it consents to participate in the Promotion in the capacity of participant;

6.5.4 it consents to the use and sharing of its personal data by WorldFirst in accordance with WorldFirst’s Privacy Policy and applicable laws, and the sharing of its personal data between WorldFirst and Rakuten, for the purposes of this Promotion; and

6.5.5 it will not use the Promotion in any way that WorldFirst (in its sole and absolute discretion) considers to be unreasonable, unethical, excessive, or in bad faith; or in any way that breaches any applicable local, national, or international law or regulation, or that is in any way unlawful, fraudulent, or wrongful, or has any unlawful, fraudulent, or wrongful purpose or effect.

6.6 The Participants shall bear all expenses and/or taxes arising from and/or in connection with participating in the Promotion.

6.7 Any clauses in these Terms and Conditions determined by any court or other competent authority to be unlawful and/or unenforceable will be treated as severed from these Terms and Conditions and will not invalidate other clauses of these Terms and Conditions which will continue in full effect.

6.8 These Terms and Conditions are for the benefit of WorldFirst and the participants in the Promotion, and are not intended to benefit any third party or be enforceable by any third party.

6.9 WorldFirst reserves the right, at its sole discretion, to refuse a claim in connection with the Reward if it has reasonable grounds to suspect that the relevant Participant has:

6.9.1 breached these Terms and Conditions;

6.9.2 misused WorldFirst’s intellectual property rights including trademarks and/or materials;

6.9.3 made any misrepresentations (negligently or fraudulently);

6.9.4 abused the Promotion; and/or

6.9.5 engaged in any illegal or criminal activity (including fraud) in connection with the Promotion or any application for WorldFirst services.

6.10 The World Account Terms shall apply to each user of the World Account service provided by WorldFirst and are to be read together with these Terms and Conditions. In the event of any conflict or inconsistency between these Terms and Conditions and any of the World Account Terms, these Terms and Conditions shall prevail only to the extent of matters relating to the Promotion. In the event of any conflict or inconsistency between these Terms and Conditions and any terms set out in any marketing materials prepared for the Promotion, these Terms and Conditions shall prevail. While all information provided herein is believed to be correct and reliable at the time of printing, publishing or posting online, WorldFirst makes no representation or warranty whether expressed or implied, and accepts no responsibility or reliability for its completeness or accuracy.

6.11 To the fullest extent permitted by applicable law, under no circumstances will WorldFirst or any of its affiliates be liable under any theory of tort, contract, strict liability or other legal or equitable theory for lost profits, indirect, incidental, special, consequential, exemplary, or punitive damages, each of which is excluded by agreement of WorldFirst and you regardless of whether such damages were foreseeable or whether WorldFirst or any person has been advised of the possibility of such damages. Notwithstanding anything in these Terms and Conditions to the contrary, WorldFirst’s cumulative liability, including for claims, expenses, damages or indemnity obligations under or in connection with its obligations under these Terms and Conditions, will not exceed US$500,000. In no event shall WorldFirst, its affiliates, agents, representatives, directors, officers, or employees be liable for any act or omission resulting from circumstance beyond their reasonable control. To the fullest extent permitted by applicable law, you hereby waive any and all rights to bring any claim or action related to this Promotion beyond one (1) year from the first occurrence of the act, event, condition or omission on which such claim or action is based.

6.12 These Terms and Conditions and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with them shall be governed by and construed in accordance with the laws of the Netherlands.

6.13 All disputes arising out of or in connection with these Terms and Conditions, including any question regarding their existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the ICC in accordance with the Rules of Arbitration of the International Chamber of Commerce for the time being in force, which rules are deemed to be incorporated by reference into this clause. The number of arbitrators shall be one. The seat, or legal place, of arbitration shall be Paris, France. The language to be used in the arbitral proceedings shall be English.

6.14 For any questions, please call us on +31 20 299 4960. Phone lines are open from 08:30 to 17:30 (Amsterdam time) on Monday to Friday (excluding public holidays).