Please read these Terms carefully. By accessing or using any Avermo service, you confirm that you have read, understood, and agree to be bound by these Terms of Service and our Privacy Policy. If you do not agree, do not use our services.
These Terms of Service ("Terms") govern your access to and use of the services provided by Avermo Financial Services Inc. ("Avermo", "we", "us", "our"), a company incorporated in Canada, including our FX Exchange, Virtual Accounts, Crypto Exchange, Payment Gateway, website, and related tools and APIs (collectively, the "Services").
We reserve the right to modify these Terms at any time. Material changes will be communicated with at least 14 days' notice. Continued use of the Services after the effective date of changes constitutes acceptance.
To use Avermo's Services you must:
Avermo does not offer services to natural persons for personal, family, or household purposes. Our services are exclusively for business clients.
To access Avermo's Services, you must complete our Know Your Customer (KYC) process, which includes:
You are responsible for keeping your account information accurate and up to date. You must notify us promptly of any material changes to your business, ownership, or risk profile. Failure to do so may result in account suspension or termination.
Avermo reserves the right to refuse or terminate any account at its sole discretion, including for compliance reasons, without obligation to disclose the basis of such refusal.
Avermo provides real-time foreign exchange conversion between supported currency pairs. Exchange rates are based on live interbank data plus a disclosed spread. All FX transactions are final once confirmed. Avermo does not guarantee rate availability and may pause or restrict conversions during periods of extreme market volatility or system maintenance.
Avermo provides virtual bank account details (IBAN, ACH/Fedwire, UK Sort Code, CLABE, NUBAN, AED) that allow you to receive and hold funds in multiple currencies. Virtual accounts are not deposit-taking accounts and funds held are not insured by CDIC or any equivalent deposit protection scheme.
Avermo provides business accounts for holding USDT and USDC stablecoins and converting them to fiat currencies (and vice versa). Cryptocurrency markets are volatile and Avermo does not guarantee rates for crypto-to-fiat conversions beyond what is disclosed at the time of transaction confirmation.
Avermo provides payment acceptance infrastructure for processing card payments and local payment methods. Transaction approvals and fund availability are subject to network rules, card issuer decisions, and Avermo's fraud controls.
You agree not to use Avermo's Services for any of the following:
Violation of these prohibitions may result in immediate account termination, reporting to FINTRAC, and/or legal action.
Fees for Avermo's Services are disclosed before transaction confirmation and in your account agreement. By confirming a transaction, you authorize Avermo to deduct applicable fees from your account balance.
All fees are non-refundable except where required by applicable law or as explicitly agreed in writing. Avermo reserves the right to update its fee schedule with reasonable notice (minimum 14 days) to existing clients.
You are responsible for any taxes, levies, or duties arising from your use of the Services in your jurisdiction. Avermo is not responsible for withholding or remitting taxes on your behalf.
To the maximum extent permitted by applicable law, Avermo's total liability for any claim arising out of or related to these Terms or the Services shall not exceed the fees paid by you to Avermo in the three (3) months preceding the event giving rise to the claim.
Avermo is not liable for:
The Services are provided "as is" and "as available" without warranty of any kind, express or implied.
All content, software, trademarks, logos, and materials on the Avermo platform � including but not limited to the Avermo name and "AV" logo � are the property of Avermo Financial Services Inc. and are protected by applicable intellectual property laws.
You are granted a limited, non-exclusive, non-transferable license to access and use the platform solely for your authorized business purposes. You may not copy, modify, distribute, or create derivative works without our express written consent.
Either party may terminate the account relationship with 30 days' written notice. Avermo may suspend or terminate your account immediately without notice if:
Upon termination, any remaining fiat balances will be returned to your verified bank account within a reasonable timeframe, subject to AML clearance and deduction of outstanding fees. Crypto balances will be handled in accordance with applicable regulatory requirements.
These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to conflict of law principles.
Any disputes arising out of or relating to these Terms or the Services shall first be attempted to be resolved through good-faith negotiation. If negotiation is unsuccessful, disputes shall be resolved by binding arbitration in Toronto, Ontario, under the rules of the ADR Institute of Canada, unless either party elects to pursue a claim in Small Claims Court (where applicable).
You waive any right to participate in a class action lawsuit or class-wide arbitration against Avermo.
For questions about these Terms or to submit a complaint:
Complaint response SLA: We acknowledge all complaints within 5 business days and aim to resolve within 30 business days.