By requesting Local Account Details and/ or providing your Local Account Details to any third party, you (“it” or the “Business”) appoint Technologies Singapore Pte Ltd (“Revolut”) as your true and lawful agent in respect of the foregoing and instruct Revolut as follows:
(Instruction): To effect the transfer of any money paid to it through or using the Local Account Details, in the currency which such transfer is made in, to the corresponding currency pocket of its Revolut Business Account held in Singapore.
The Business acknowledges and agrees that:
- Capitalised terms used but not defined in this Standing Instruction will have the meaning(s) ascribed thereto in the Local Account Details Terms or the Business Terms (as applicable).
- Revolut is appointed as its agent for the purposes of receiving money via Local Account Details and doing any and all things necessary to give effect to the Instruction on the Business’s behalf.
- Revolut will give effect to the Instruction after money is paid to the Business using its Local Account Details.
- Revolut may determine any order or priority of payment of any money paid to the Business using its Local Account Details.
- While Revolut will endeavour to effect the Instruction, Revolut shall not be liable for any delays , failures or losses arising from or out of the foregoing to make the payment as a result of any circumstances outside of Revolut’s reasonable control.
- Revolut may terminate the Instruction as to future transactions at any time by providing notice in writing to the Business. This notice may be delivered via the chat function in the Revolut Business app or through such other method as Revolut may in its sole discretion decide.
Revolut agrees to follow the Instruction in its capacity as agent for the Business on the terms and conditions set out herein. The Business agrees that by using the Local Account Details service and/or providing its Local Account Details to a third party, it has read, understood and agreed to this agreement.
This Standing Instruction and the Local Account Details service are subject to the Local Account Details Terms and the Business Terms.