WebMoney

Wiki

Agreement on Using Checks in the Electronic Form

Agreement on Using Checks in the Electronic Form

OOO WMR represented by V. N. Sharko, Director General acting on the basis of the By-Laws, hereinafter referred to as the Check Issuer, on the one part, and any other party that has accepted this Agreement hereinafter referred to as the Owner, on the other part, collectively referred to as the “Parties” have concluded this Agreement (hereinafter referred to as the Agreement) as follows:

1. Warranty Liability of the Check Issuer

1.1. The Check Issuer shall hereby warrant to pay the amount indicated at the electronic check payable to bearer, to any person holding and using electronic checks payable to bearer ("ECB") issued by the Check Issuer by means and in the format of WebMoney Transfer system, upon presenting such check to the payer’s Bank (hereinafter referred to as the “Bank”). The electronic check payable to bearer shall be approved for payment by the Bank in case of positive result of authorization when presenting the electronic check payable to bearer. Liabilities of the Check Issuer shall be terminated the moment the amount corresponding to the electronic check payable to bearer is written off the Check Issuer account based on presenting the electronic check payable to bearer.

2. Subject of the Agreement

2.1. At any time, for a fee, and in accordance with the terms and conditions specified by the Agreement, the Check Issuer shall undertake to split one electronic check payable to bearer presented to the Check Issuer, and instructing to pay a certain amount into multiple electronic checks payable to bearer instructing to pay smaller amounts that collectively make up the amount indicated in the check to be split.

2.2. Every electronic check payable to bearer shall be issued via and circulate within WebMoney Transfer system.

2.3. The check for a certain amount shall be recorded to the purse of R type belonging to the Owner in WebMoney Transfer system.

2.4. Transferred Checks can be combined with similar Checks of other Owners.

3. Check Issuer Obligations

3.1. Pursuant to WebMoney Transfer procedure, and at any time upon the Check Owner request, the Check Issuer shall herby undertake to split one electronic check payable to bearer instructing to pay a certain amount into the required number of electronic checks payable to bearer instructing to pay smaller amounts that collectively make up the amount indicated in the check to be split.

4. Owner Obligation

4.1. In case it is necessary to transfer a part of the electronic check payable to bearer to third parties, the Check Owner shall pay for Check Issuer's services related to the electronic check split. The Check Issuer fee shall equal to 0.8% of the amount of the electronic check transferred to a third party (VAT included), but not less than 0.01 ruble and not more than 1500 rubles (VAT included). The fee shall be paid in the form of the electronic check payable to bearer the moment a part of the electronic check nominal is transferred to third parties.

5. Special Terms and Conditions

5.1. The Parties shall hereby acknowledge and accept that electronic documents made up using WebMoney Transfer system tools (namely acts/statements of acceptance/delivery, purchase agreements, accounts, account statements) and signed with handwritten signature equivalent (in accordance with point 2 of Article 160 of the Civil Code of the Russian Federation) have legal effect equal to that of respective documents executed in simple writing form. The Owner is identified with the unique WebMoney Transfer identification number, key and user password.

6. Special Terms and Conditions of the Agreement Execution

6.1. For the purpose of concluding this Agreement, the Owner shall be obliged to provide his/her true and valid details. The Check Issuer shall have the right to unilaterally refuse executing the Agreement in case the Owner does not provide true and correct information about some of the material details that are used to verify the Owner's identity in accordance with the existing legislation of the Russian Federation and that are established by the existing legislation of the Russian Federation as details that are obligatory for concluding such kinds of agreements.

6.2. The electronic check payable to bearer stored at the Owner’s purse of R type belongs to the Owner. The Owner is solely responsible for usage of his/her electronic checks payable to bearer in accordance with the existing legislation of the Russian Federation and/or the country of Owner's stay, including administrative, criminal and other liability for any unlawful actions committed by him/her using a purse of R type and/or electronic checks payable to bearer.

6.3. All transactions pursuant to this Agreement shall be performed online via WebMoney Transfer system and in accordance with its rules and procedures covering electronic documents and their execution. In connection with the above, the Owner must formally accept:

  • WebMoney Transfer rules ensuring full material safety of transactions performed pursuant to the Agreement;
  • that documents and formalized messages transferred via WebMoney Transfer system are true, valid and have equal legal effect to those executed in accordance with the traditional procedure (in public, in hard copy, on the physical media), while actions performed via WebMoney Transfer system using R purse are voidable actions performed by the appropriate parties in accordance with the bilaterally accepted special procedure solely within this special bilateral agreement procedure.