Terms of Use

Version 1.0

  1. The Client/Customer (as defined below in DEFENITIONS 2) wishes to enter into a Contract for the purchase, sale and delivery of currency with the Company  
  2. The Company (as defined below in DEFINITIONS 1) agrees to enter into a Contract for the purpose of supplying and delivering currency to the Customer
  3. Both parties agree to be bound by the Terms and Conditions ("Conditions") as set out below in the AGREEMENT

DEFINITIONS

  1. "Company", "Bidweg Ltd” means “Bidweg Ltd” trading as “Bidweg.com” whose registered offices are at;
  1. Victoria House, Desborough Street, High Wycombe, Buckinghamshire, HP11 2NF
  2. Company Registration Number 10890104
  1. "Client / Customer" shall mean the person, firm or organisation to which the Company provides services for the purchase or sale of cash currencies, having agreed to these terms and conditions. The “Client/Customer” are further defined and further referred to as “Sellers or the Seller” and “Buyer or the Buyer”
  2. "Payment Date" means the date agreed at inception of the transaction between the Client and the Company which is specified on the “Sell Note or Buy Note” when the Client must deliver his funds to the Company to ensure that the Company can attempt to meet the agreed Delivery Date for the Client's purchased currency
  3. "Platform" means the website, app, tablet or other electronic device, from which the Company advertises and trades
  4. “Account” means the registration section of the platform that allows the company to check the Client/Customer details
  5. "Delivery Date" means the date which the client prefers to have the currency funds they have purchased despatched to them
  6. "Business/Working Day" means from 09.00hrs to 16.00hrs from Monday to Friday, excluding weekends and all Bank Holidays
  7. "Currency" means the currency purchased at the agreed exchange rate
  8. "Contract" means the formal contract entered into between the Client and the Company for the foreign exchange transaction to sell or buy Currency at the agreed exchange rate on the dates quoted and to make the payment set out herein on and subject to these Terms and Conditions.
  9. "Questionable Transactions" means a transaction that raises concern where there are circumstances to suggest that a person or company might be money laundering or conducting other prohibited activities. It includes any activity which does not fit with the normal course of business
  10. “Sellers or the Seller” is defined as an individual or organisation who wishes to use the platforms provided by the company to sell cash currency at a predetermined rate and description between themselves and the company
  11. “Buyers or the Buyer” is defined as an individual or organisation who wishes to use the platforms provided by the company to purchase cash currency at a predetermined rate between themselves and the company
  12. “Sell Note” means the written confirmation given to the “Client/Customer” at the time of selling your cash currency to the company and then emailed to you detailing the agreed rate and any other details between both parties
  13. “Buy Note” means the written confirmation given to the “Client/Customer at the time of buying your cash currency from the company and then emailed to you, detailing the agreed rate and any other details between both parties

  1. AGREEMENT
  1. By accessing, using or browsing the Platform, you confirm that you are over 18 years old and have read and understood these terms and conditions, and agree to be bound by them and to comply with all applicable laws, rules and regulations
  1. MONEY LAUNDERING REGULATIONS
  1. The Company is licensing for Bureau de Change business with H.M Revenue & Customs
  2. The Company reserves the right at all times to refuse to process any Currency orders at any stage
  3. The Company has a legal obligation to report to HMRC and or National Criminal Agency any and all Questionable Transactions
  4. The Regulations require the Company to monitor any unusual or suspicious transactions of any size taking place where the Company believes the money is derived from illegal activity
  5. The Regulations also require us to keep full records together with copies of identification provided (where obtained) of all transactions. Our Anti Money Laundering policy may require us to select your transaction for enhanced verification. We will attempt to electronically verify you however should we be unsuccessful we will require documentation as follows:
    Acceptable forms of identification are detailed below in List 1 and List 2 and apply to UK/EEA/Swiss Nationals
  6. On occasions we may need 2 types of identification, 1 from LIST 1 and 1 from List 2. Both tables are as described below contain acceptable forms of identification acceptable to the Company. These forms of identification will be used as verification and identification of the Client/Customer
  1. List 1
  1. Acceptable photographic identity for UK/EEA/Swiss Nationals
  2. Valid UK/EEA/Switzerland Passport
  3. Valid UK Full Photocard Driving Licence
  4. Valid UK Provisional Photocard Driving Licence
  5. Valid EU member state National ID Photocard
  6. Valid firearms certificate or shotgun licence.
  7. All documents must include your full name

  1. List 2
  1. Acceptable non-photographic identity for UK/EEA and Swiss Nationals
  2. Valid non-photo UK Driving Licence
  3. HMRC documentation, PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill, issued in the last three months or valid for the current tax year. P45/P60s will not be accepted
  4. Notification correspondence from the Benefits Agency or Local Authority confirming your right to benefits (Department for Works and Pensions (including Jobcentre Plus), Benefits Agency or Veterans Agency), dated within the last 12 months
  1. All documents must include your current address and must contain a unique reference number to confirm your relationship with this provider
    Address documents can include:
  1. Current UK Full Photocard Driving Licence
  2. Current UK Provisional Photocard Driving Licence
  3. Current non-photo UK Driving Licence
  4. Council Tax bill valid for the current fiscal year, HMRC documentation, PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill, issued in the last three months or valid for the current tax year. P45/P60 forms will not be accepted
  5. HMRC documentation, PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill, issued in the last three months or valid for the current tax year. P45/P60 forms will not be accepted
  6. Notification correspondence from the Benefits Agency or Local Authority confirming your right to benefits (Department for Works and Pensions, Jobcentre Plus, Benefits Agency or Veterans Agency), dated within the last 12 months
  7. Current Tenancy Agreement, from a local council or a recognised letting agency
  8. Bank, Building Society, Credit Union statement, dated within the last 3 months
  9. Credit card statement dated within the last 3 months
  10. Mortgage statement from a recognised lender, dated within the last 12 months
  11. Life Assurance/Life Insurance Policy dated within the last 3 months but outside of cancellation period
  12. Motor Insurance Certificate, valid for the current year but outside of cancellation period. Cover notes will not be accepted
  13. Utility bill - gas, electricity, telephone or water, dated within the last 3 months
  14. Sky or cable TV bills dated within the last 3 months

  1. Please note we can only accept original documents. Documents printed off the internet will need to be authenticated by the issuing company.
    In line with Anti-Money Laundering regulations, on occasions, you may be required to prove the source of the funds you are using for your transaction. Should this be the case we will contact you, by whatever method we see fit specifically regarding this. This will most likely not be at outset of the transaction
  2. You agree that you will have available and provide to us the necessary documents in the format requested to prove these should we so request them and further agree that your failure to do so to our satisfaction may result in the cancellation of your transaction at your cost. Should you fail to provide the necessary evidence within seven days then we reserve the right to cancel the transaction as having failed the Anti Money Laundering process
  3. Should your order fail Anti Money Laundering checks then we reserve the right to cancel the transaction as per our cancellation policy
  1. ORDERING
  1. When placing an order, you confirm that you are acting on your own behalf, for a genuine reason and the currency that you wish to “Sell or Buy” is legally and beneficially yours, has not been obtained by illegal means nor in any way contrary to the rights of the legal owner and is not tainted in anyway by criminal activity. Furthermore, you also confirm to us that the information that you have provided is true and accurate in all respects and that you will not withhold any material information from us that we may reasonably require. Neither your placement of an order, our acknowledgement or receipt of the order, or your request for currency, or our receipt of your payment constitute acceptance of your order. Acceptance of an order is only declared by us upon despatch of the order to you
  2. The Company will only provide banknotes for non-speculative purposes. This means that the Company will not supply the Client if the Client is seeking to purchase banknotes as an investment or to profit by pure speculation on foreign exchange movements without having a genuine non-speculative reason for doing so that the Client/Customer can document if required in accordance with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
  3. You must provide all the requested information for us to process the order. We reserve the right to request further information from you, should it be required, at any time. You agree that we may take reasonable steps to verify your identification and you acknowledge and agree that we may not complete the requested order or transaction with you for any reason, at our discretion
  1. TELEPHONE ORDERS
  1. We do not accept orders by telephone

  1. TERMS OF PAYMENT 
  1. Buyer Order
  1. Payments will only be accepted via Debit or Credit card, through our online payment provider. We do not accept cash deposits, bank transfer or cheques payments. Should you attempt to or be successful in making a payment to us by any of these methods once this is identified it will be held on suspense and your order will not be processed. Any refund payable will be subject to both a £25.00 admin fee. All orders will be processed at the exchange rate provided to you at the time of the transaction and once you have agreed to sell or buy currency from the company, the exchange rate and equivalent figure shown in the local trading currency will be the one that is required for purchase of currency. These figures will include all commissions and costs for the transaction. Our website rates are indicative only and we are not bound by them.  In instances where a Bank Holiday is between your order date and your payment date we will allow extra time equivalent to the Holiday period. The minimum order value for currency is £100 and maximum value is £1000. The Company upon request will consider supplying larger sums upon application.
  1. Seller Order
  1. All payments to sellers will be made directly into the “Sellers” bank account with details provided at the time of account registration by direct bank payment upon confirmation and clearance of the funds the “Seller” has submitted to the Company for the Company to process. No payments will be made in cash and the figures shown will be the one that the seller receives after all deductions for commissions and charges have taken place. Minimum sell request will be valued at £40 (equivalent) in one currency. Maximum sell request will be valued at £1000 (equivalent) in one currency. Larger sums will be considered upon application.
  1. REFUNDS
  1. Any refund of a cancelled order, duplicate payment, rounding adjustment or any other type of refund will be subject to a £5.00 payment charge in addition to any other fees payable
  1. INCOMPLETE PAYMENTS (Selling)
  1. Orders that are not as described in the “Sell Note”, will be cancelled and subject to the Company’s cancellation policy. The Company will use reasonable endeavours to contact you via email using the address supplied advising you that your order has been cancelled due a shortage and or difference in the “Sell Note” and the received currency. Should the Company not receive any correspondence or notification from you regarding the cancellation of the order, the order will be deemed cancelled. The company will return the package via Royal Mail signature services with all costs and cancellation fees being deducted from the currency received and exchanged at the company’s preferential rate.
  2. In the event that the Company finds that the currency notes that have been tendered for the purposes of selling to the company for the purpose of re-sale are found to be illegal by the way of being forged, the company will be obliged to contact the local authorities within the territory that the request for sale was made. This will be done without prior notice to yourselves and your order will be deemed cancelled and all notes, materials and information about your person will be passed to the relevant authorities with your consent.
  3. Cash Payments Supplied.

All currency supplied will be supplied using the company’s existing stock. Requests for specific denominations cannot be guaranteed although the company will use its best endeavours to supply an even spread of currency requested. The condition of the currency supplied will be that of a used condition and supplied having been inspected and released that it is fit for its intended purpose. All currency will have also been checked and cleared for its legality

  1. DELIVERY (Outgoing)
  1. All deliveries are made to the residential or company address specified when registering for an account. No further addresses for delivery will be considered
  2. The Company does not recommend delivery to Business/Charity/Organisation [work] addresses but will do so upon request and agreement at the customer's own risk
  3. All orders are dispatched through the Royal Mail delivery services and are guaranteed and insured by the company
  4. Next day delivery is not guaranteed however the company will endeavour to deliver its product within 24/48 hours of notification of the dispatch email sent directly to the email address supplied at the time of account registration. We will not be held liable for any issues, expenses or costs arising from deliveries taking longer than the expected 24/48 hours the company expects to achieve
  5. We cannot accept any responsibility for fraudulent acts committed by a third party or non-delivery to a named person
  6. If you believe your order is in anyway incorrect then you must inform us with 48 hours of receipt by email to orders@bidweg.com
  1. DELIVERY (Incoming)
  1. Deliveries of your currency into the company will be free of charge providing you use the “FREEPOST” address supplied by the company and serviced by the Royal Mail. The envelope must be addressed as per the instructions on the “Sell Note”. All deliveries into the company are insured by the company and are expected to arrive within 24/48 hours from postal. Excluding weekends and Bank Holidays.
  1. DELIVERY (General)
  1. You accept that failed or missing deliveries will not be immediately refunded but dealt with under the terms of the Royal Mail’s claims procedure. Once their investigation and our subsequent insurance claim on your behalf (where appropriate) is complete only then will any refund be payable
  2. Delivery dates should not be placed for the 2 working days prior to your departure for your travels
  3. Where the delivery date falls on a Monday, your package may be dispatched on the Friday prior as Royal Mail do not collect from the Company on a Saturday/Sunday, therefore you may receive your package on the Saturday prior to your delivery date. This is dependent upon the local Royal Mail Delivery office's services where the package is being delivered to. In instances where the package does not arrive on the Saturday, your package may be delivered on the Monday. We do not do timed delivery services via the Royal Mail
  4. Where delivery is made at customer's request we can accept no direct responsibility or liability for safe delivery beyond including the secure handover of the currency to the chosen delivery address. For deliveries to addresses different to that in the account that has been registered will only be upon application and incur a delivery cost
  5. If the delivery address stipulated at the time of registration is a centralised reception or a building of multiple occupancy, be aware that Royal Mail may deliver to the reception or other delivery point only and not to the customer. Therefore, this will be deemed the delivery point
  6. We are not responsible for deliveries delivered to your address by Royal Mail but which you have not received
  7. Our delivery schedule is subject to variation for public holidays, weather conditions and force majeure
  8. We will not accept any responsibility for damaged packages
  9. We are not responsible for late-delivery where the Postal Service has failed to meet the requirements of the Royal Mail Delivery service
  10. Any losses which you incur, which are caused because of the delivery of your order to an address supplied by you in error will be deemed as your responsibility
  11. We only deliver to areas that are covered by the Royal Mail Delivery service
  12. Deliveries to areas specified by the Royal Mail under general exceptions will be subject to the Royal Mail's delivery schedule
  13. Returned or refused deliveries will be bought back by us at the prevailing rate on the day upon receipt at our offices unless prior arrangements have been agreed
  1. DELIVERY CHANGES
  1. Should the Client/Customer need to change the delivery address, this request must be done by email from the email address initially used to make the order and may not take effect until confirmed back to you in an email from the company
  1. CONFIDENTIALITY
  1. The “Client/Customer” agrees that the Company may carry out any check as to the financial status as the Company shall deem fit for verifications purposes only. The Client/Customer accepts that the Company will attempt to verify the Client's identity by checking the details supplied against those held on several specific databases that the Company has access to, for example information from the Electoral Register, and fraud prevention agencies. A record of this process will be kept, and the data held confidentially and only released to third parties who are authorised to receive such data such as the Police or Financial Conduct Authority or governing authorities within the territory of trade. The Company may also pass information to organisations involved in fraud prevention to protect the Company and other clients from theft and fraud. If the Client/Customer supplies false or inaccurate information and the Company suspect's fraud, the Company will record this and share this information with other organisations
  1. PERSONAL INFORMATION
  1. We will keep your personal information safe and secure
  2. When you give your personal information to us, we will process and use that data in accordance with our responsibilities under the General Data Protection Regulation (GDPR) - Regulation (EU) 2016/679) and other relevant legislation
  1. INDEMNITY
  1. The Client/Customer shall pay all legal fees or costs incurred in connection with the enforcement of these terms and conditions or legal fees incurred in connection with any dispute or difference arising under this agreement that is resolved in favour of the Company

  1. CANCELLATION POLICY
  1. The Company reserves the right to cancel any order at any time for any reason. In the event of the Company cancelling an order the Client/Customer will be reimbursed up to the full amount paid less any fees incurred by the company in circumstances that have shown that the Client/Customer has acted in a fraudulent manner. This being the case the Company is within its rights and in line with the Money Laundering Regulations to withhold currency and report the matter to the appropriate authorities
  2. Once a “Client/Customer” has entered a Contract for the currency, the order cannot be cancelled by the Client/Customer without incurring a fee. Should a Client/Customer request cancellation of their order/s a fee of £25.00 will be applied per order plus any associated costs and deducted, where applicable in the case of a “Seller” from the currency sent to the Company. In this case the Company will use its preferential rate to convert the monies owed and notified to the “Client/Customer”. In the case of the “Buyer” the Company will advise the Buyer by email that any admin fees that have been applied due to cancellation of the order will be applied before approving return of funds to a credit card or debit card.
  1. EXCLUSION CLAUSE
  1. The Company excludes all liability for any claim arising from any act undertaken for a “Client/Customer” unless the “Client/Customer” can prove that the Company caused the Client/Customer to suffer loss
  2. When determining if the Company has caused a “Client/Customer” to suffer loss, the “Client/Customer” accepts the actions of intermediaries not employed by the Company are the actions of third parties. The Company will not be responsible for any loss caused by a third party. This does not affect the “Clients/Customers” statutory rights
  3. The Company will make every effort to process orders placed via this service without any delay, however, delays can sometimes occur due to technical problems or matters out of our control. If this occurs, we will make every effort to deliver your order as soon as possible
  4. If we are in breach of our obligations under these Terms and Conditions, we will only be liable to you for the direct losses that you incur. Direct losses mean the value of the Currency purchased, pursuant to any Contract. You accept that this is a reasonable pre-estimate of the loss you may suffer resulting from any breach by us or of our obligations hereunder
  1.  COMPLAINTS POLICY
  1. Should you wish to make any complaint please email us directly at complaints@bidweg.com. All complaints must include the order number in the “Sell or Buy” note and a clear indication of the nature of the complaint. All complaints will receive an automated acknowledgement and we will use our best endeavours to investigate and resolve the complaint within 28 working days of receiving it

  1. DISCLAIMER
  1. None of the information contained in the company’s platforms constitutes, nor should be construed as Financial Advice. The Company provides information attempting to achieve accuracy, but this cannot be guaranteed
  2. The Company does not confirm this site's contents, and excludes any implied confirm, relating to exchange rates, market prices and data. The Company is showing rates as a general indication only updating in general on an hourly basis. We will not be held responsible for any human or machine error that causes a wrong rate to be published
  3. In the event of an incorrect rate quoted on any order, we will contact you to advise the correct rate and amend the order accordingly. You can then confirm if you wish to proceed with the amended order. Neither the Company, nor any entities from which they receive information, nor any entities with which their site is linked, shall be liable for any investment or other decisions made on the basis of the information provided
  1. PROPRIETARY RIGHTS AND COPYRIGHT
  1. The contents of this website are protected by copyrights, trademarks, patents and/or any other proprietary rights and laws. No part of this website can be reproduced without prior written consent
  1. GENERAL
  1. Any telephone calls between the Company and the “Client/Customer” may be recorded, in which case the recordings will be accepted by the “Client/Customer” as evidence of the instructions or communications recorded
  2. The “Client/Customer”, by accepting these terms and conditions, acknowledges and accepts that evidence of any such recordings may be referred to by the Company in respect of any dispute or difference between the parties
  3. The terms and conditions of this Agreement are the conditions in force at the date of this Agreement and shall not be superseded, amended or varied in any way whatsoever without the written consent of the Company
  4. No representation made orally by the Company, or agents shall be binding upon the Company or shall form part of this Agreement, unless they are agreed in writing by a Director of the Company
  5. Your obligations under these Terms and Conditions may not be assigned or transferred in any way to any other party. We shall have the right at any time to transfer and assign our rights under these Terms and Conditions to any other party as we deem fit. Any delay or failure on our part to exercise our rights shall in no way amount to or be deemed as a waiver or giving up of such rights by us, nor shall it prejudice any of our other rights under these Terms and Conditions
  6. A person who is not a party to the Trading Agreement has no rights under the contracts (Rights of Third Parties) Act 1999 to enforce any term of the Trading Agreement but this does not affect any right or remedy of a third party which, exists or is available under that Act
  7. Should any of these Terms and Conditions be deemed to be unenforceable or illegal, the remainder of the Terms and Conditions shall remain in full force and effect as if the unenforceable or illegal part has been removed. Should any of these Terms and Conditions be in conflict with any other documentation or information that we have provided to you in connection with any order, then these Terms and Conditions shall have priority unless specifically agreed by us in writing that such other documentation and information shall have priority in whole or in part

  1. GOVERNING LAW AND JURISDICTION
  1. These Terms and Conditions and any disputes or claims arising out of or in connection with them shall be governed by and construed in accordance with the laws of England and Wales and the English Courts shall have jurisdiction over any such dispute