These Terms of Service ("Terms") govern your use of services provided by Quick Forex Limited, a company incorporated under the Companies Act, 2013, holding RBI Authorised Dealer Category-II licence NDL-ADII-0021-2023.
By using our services, you agree to these Terms.
1. Eligibility
- You must be 18 years or older and a resident of India under FEMA
- You must provide accurate identity, address, and PAN details
- You must comply with the RBI's Liberalised Remittance Scheme (LRS) limits and the Foreign Exchange Management Act, 1999 (FEMA)
2. Services Offered
- Sale and purchase of foreign currency notes
- Outward remittances under LRS for permissible purposes
- Issue and reload of multi-currency forex travel cards
- Educational, medical, and family-maintenance remittances
- Corporate forex services (under separate agreement)
3. KYC & Documentation
You agree to:
- Submit valid PAN, Aadhaar, passport (where applicable)
- Provide purpose-of-remittance documentation (visa, admission letter, invoice, etc.)
- Complete an A2 Form/LRS declaration before fund release
- Submit any additional documents requested by us or our banking partners under FEMA / RBI guidelines
4. Pricing, Rates & Charges
- Exchange rates are dynamic and update periodically based on interbank pricing
- The rate displayed at lock-time is held for 10 minutes; payment must be initiated within this window
- GST is charged per CGST Rule 32(2)(b) — deemed value method
- TCS is collected per Section 206C(1G) of the Income Tax Act when applicable
- Bank charges (correspondent / SWIFT / nostro) may apply — disclosed before transaction
- All charges are clearly displayed before you authorise payment
5. Transaction Process
- Lock the rate by entering required details
- Complete KYC verification
- Pay via supported channels (NEFT/RTGS/IMPS/UPI)
- Funds are released to beneficiary after compliance review (typically 4–24 working hours)
6. User Obligations
- You will not use our services for unlawful, fraudulent, or money-laundering activity
- You will not exceed the LRS annual limit (USD 2,50,000) across all authorised dealers
- You will not provide false information or impersonate another person
- You will not attempt to interfere with or compromise our platform
7. Compliance & Reporting
We are required to report transactions to:
- RBI under FEMA reporting requirements
- Income Tax Department for TCS collection (Form 26AS)
- FIU-IND under PMLA for suspicious-transaction reporting
8. Limitation of Liability
To the maximum extent permitted by law:
- We are not liable for delays caused by banking partners, regulatory checks, or beneficiary-bank issues
- We are not responsible for incorrect beneficiary details provided by you
- Our total liability for any claim is capped at the transaction-fee component of the disputed transaction (excluding the FX principal)
9. Forex Risk Disclosure
Foreign exchange rates fluctuate based on global market conditions. Quick Forex does not guarantee any future rate. Once a rate is locked and payment is initiated, the rate is final. Any losses or gains arising from market movements after lock are borne by the customer.
10. Intellectual Property
The website, logos, content, and software are the property of Quick Forex Limited. You may not reproduce, distribute, or create derivative works without prior written consent.
11. Suspension & Termination
We may suspend or terminate your account if:
- You breach these Terms or applicable law
- You provide false KYC or transaction information
- Your transactions are flagged for compliance review
- Required by RBI / FIU-IND directive
12. Governing Law & Jurisdiction
These Terms are governed by Indian law. All disputes are subject to the exclusive jurisdiction of courts at New Delhi, India.
13. Amendments
We may modify these Terms from time to time. Updated Terms will be posted with a revised "Last updated" date. Continued use of services after changes constitutes acceptance.