Newbit solutions

Welcome

Thank you for visiting our platform. By accessing and using our services, you agree to be legally bound by these Terms and Conditions. Please read them carefully. If any term is unacceptable to you, please do not use our services. Use of "we," "us," "the Company," or "our" refers to our organization and its affiliates operating in Singapore.

1. Using Our Services

You represent that you have the legal capacity to enter into these Terms and Conditions and agree to be legally bound by them. By logging into your account or using our services following any change to these Terms, you constitute your agreement to the amended Terms. You agree to read these Terms regularly. If you do not agree to be bound by these Terms, you should not access or use our services. Should you disagree with these Terms, please immediately suspend usage and close your account in accordance with the Account Closure section.

2. Applicable Laws and Regulations

Your conduct on the platform is subject to the laws, regulations, and rules of Singapore, including but not limited to: Singapore's Payment Services Act, Personal Data Protection Act 2012 (PDPA), applicable anti-money laundering regulations, relevant tax authority regulations, and guidance from the Monetary Authority of Singapore (MAS). You agree to act in compliance with and be legally bound by these Terms and all applicable Singapore laws and regulations. Your transactions and any disputes will be governed by Singapore law.

3. Account Management

Your account enables you to view balances, initiate card payments, and manage approved payment methods. Account balances are maintained by our partner financial institutions in safeguarded accounts in accordance with Singapore regulations and our service scope. If you notice any suspicious activity, notify us immediately. We will process transactions promptly; however, your selected payment method may be authorized before your account balance reflects a completed transaction.

4. Transactions and Disclaimers

BY USING OUR SERVICES, YOU AGREE NOT TO HOLD US RESPONSIBLE FOR ANY LOSS AND/OR DAMAGE RESULTING FROM ANY TRANSACTION. PAYMENT TRANSACTIONS MAY BE IRREVERSIBLE ONCE AUTHORIZED. WE HAVE NO CONTROL OVER TRANSACTIONS HANDLED BY THIRD-PARTY PROCESSORS. WE CANNOT MAKE WARRANTIES REGARDING TRANSACTIONS, INCLUDING PRICING OR TERMS SET BY THIRD PARTIES. You acknowledge that you have not relied upon any other statement or agreement with respect to your use of our services.

5. Refunds and Settlements

If a transaction is not correctly matched or settled (for example, incorrect transaction information is provided), we may, at our sole discretion, refund your transaction or credit the corresponding amount to your account. You may be liable for processing fees or exchange rate fluctuations as applicable. User funds are safeguarded in segregated accounts by our partner institutions. Payout requests, refunds, or settlements are processed in accordance with partner timelines and typically complete within standard settlement timeframes.

6. Prohibited Activities

The platform does not permit use for any prohibited activity, including but not limited to: use on illicit marketplaces, ransomware, services designed to obscure the source of funds, or illegal activity that would violate Singapore laws and regulations or involve proceeds of unlawful activity. We have the right to immediately (i) suspend your account, (ii) freeze funds and assets, and (iii) suspend your platform access if we suspect violation of our Prohibited Activity policy.

7. Anti-Money Laundering Compliance

To meet Singapore regulatory requirements and protect your assets, we verify your identity information and documents in accordance with the Monetary Authority of Singapore guidelines. If you fail to complete verification as required, you will not be able to use our services. You commit that: all your assets are legitimate and legally owned; there are no assets related to terrorist financing, money laundering, or criminal activities; you will not use our platform for illegal activities. We reserve the right to re-verify your information and impose account restrictions if suspicious activity is detected.

8. Know-Your-Customer (KYC)

In accordance with Singapore regulations, we conduct KYC procedures. For individuals, we collect: (a) Basic personal information: name, address, date of birth, nationality; (b) Identity documents: passport, NRIC, or government-issued ID; (c) Photo verification holding identity document; (d) Contact information: phone number and email address. For corporate entities, we collect: (a) Company registration certificates and articles of association; (b) Ownership structure and board resolution; (c) Identity documents of directors and major shareholders; (d) Business address and mailing address; (e) Additional documentation as required under Singapore AML regulations.

9. Account Security

Please use 2-factor authentication when logging in and keep your password secure. You are responsible for all actions using your account credentials. If you discover unauthorized use of your account, notify us immediately. We will take action within a reasonable time, but are not liable for consequences that occurred prior to such action. You shall not transfer your account to others without our consent.

10. Service Restrictions

We reserve the right to suspend or terminate services to users who do not comply with international anti-money laundering standards, breach these Terms, or are identified as politically exposed persons (PEPs). We reserve the right to refuse service to residents from sanctioned jurisdictions as determined by Singapore authorities and international bodies. The restricted jurisdictions list is subject to amendments with or without notice.

11. Fraud Prevention

To protect your financial security, we may implement ID confirmation processes, especially for vulnerable individuals. We use third-party tools to combat social engineering, device takeover fraud, and imposter fraud. You are required to verify account details and payee information before making payments. We are not liable for losses resulting from fraud or similar activities where reasonable precautions have not been taken by you.

12. Limitation of Liability

WE WILL NOT BE LIABLE FOR LOSSES OR DAMAGES ARISING FROM: (A) ANY INACCURACY, DEFECT, OR OMISSION OF DATA; (B) ANY ERROR OR DELAY IN DATA TRANSMISSION; (C) INTERRUPTION IN DATA OR SERVICES; (D) SCHEDULED OR UNSCHEDULED MAINTENANCE; (E) DAMAGES INCURRED BY OTHER USERS' ACTIONS OR VIOLATIONS; (F) DAMAGES CAUSED BY ILLEGAL ACTIONS OF THIRD PARTIES. Our liability is limited to the extent permitted under Singapore law.

13. Monitoring and Recording

In the interest of security and compliance, we reserve the right to record all telephone conversations, internet conversations including chat, and meetings between you and us. We may monitor your use of services for internal business purposes and regulatory compliance.

14. Governing Law and Jurisdiction

These Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of the Courts of Singapore. If any provision is found unenforceable, it shall be reduced in scope only to the extent necessary to render it reasonable and enforceable.

15. Regulatory Framework

Our services operate under the regulatory oversight of the Monetary Authority of Singapore (MAS). We are committed to compliance with Singapore's Payment Services Act and related regulations. This regulatory foundation ensures that all our services comply with applicable legal standards and offer transparency, security, and trust to our users.

16. Changes to Terms

We reserve the right to modify these Terms at any time. Changes will be posted on our website with the effective date. Your continued use of our services after changes are posted constitutes acceptance of the modified Terms. We recommend reviewing these Terms periodically.

17. Contact Information

For questions about these Terms or our services, please contact us at CS@newbitsolutions.site. We are committed to addressing your inquiries promptly in accordance with Singapore service standards.