These General Terms and Conditions (hereinafter "T&C") govern the contractual relationship between:
GBH Canada (OCN registration number 1000765365), located at 80 Birmingham St, Unit C6, Toronto, Ontario, Canada, M8V 3W6, regulated by the Bank of Canada (MSB registration: C100000033), provider of Financial Services under the KViTKA brand (hereinafter "the Company", "GBH Canada", "we" or "us").
Global Business Hub France SAS, registered with the Metz Trade and Companies Register under number 888 935 202, VAT No. FR 41 888 935 202, whose registered office is located at 8 Rue Graham Bell, 57000 METZ, FRANCE, acting as manager and representative of GBH Canada in France (hereinafter "GBH France").
Any legal entity or individual entrepreneur who has opened a Corporate Account with KViTKA (hereinafter "the Client" or "you").
GBH Canada is a licensed Money Services Business providing foreign exchange dealing, products, services, and technology, as well as transaction processing and payment infrastructure to individuals and corporate organizations across various sectors, via licenses and authorizations in specific regions or through partnerships with licensed/authorized partners.
You expressly agree to the terms of the Agreement and will also treat your access to and use of our Services as acceptance of the terms of the Agreement. This Agreement is legally binding and will take effect upon the date on which you agree to its terms.
This Agreement is governed by and interpreted in accordance with the laws of Canada and applicable provincial regulations.
Important: The Services are provided under GBH Canada's Money Services License (MSB), which is regulated by the Bank of Canada. GBH France acts only as a manager and point of contact in France.
Definitions
Corporate Account: A professional multi-currency payment account opened in the name of the Client with GBH Canada.
Services: Financial services provided by GBH Canada under the KViTKA brand, including account opening and maintenance, wire transfers, corporate cards, foreign exchange, and related financial services.
Partners: Third-party providers (banks, PSPs, card issuers, payment systems) involved in the provision of the Services by GBH Canada.
Authorized User: Any natural person designated by the Client to access and manage the Account with GBH Canada.
Platform: All interfaces (www.kvitka.fr website, mobile application, API) allowing access to GBH Canada's Services.
Available Funds: The amount of funds in the GBH Canada Account that are available for trading.
Eligibility and Jurisdiction
Eligibility Criteria
Opening an Account with GBH Canada is reserved for:
Companies legally registered in their jurisdiction.
Individual entrepreneurs with a recognized legal status.
Legally constituted organizations.
Geographic Restrictions
GBH Canada's Services are available to clients located in jurisdictions permitted by Canadian regulations. GBH Canada reserves the right to deny access to the Services in certain jurisdictions in accordance with its regulatory obligations.
Acceptance Criteria
GBH Canada may refuse an application to open an Account without having to provide any justification, in particular in the event of:
Incomplete or inaccurate information.
Activity considered risky according to Canadian standards.
Non-compliance with GBH Canada's acceptance criteria.
Regulatory Verification and Compliance (KYC/AML/CFT)
Obligations of the Client
The Client undertakes to provide GBH Canada with complete, accurate, and up-to-date information to allow:
Verification of the identity of the company and its representatives.
Compliance with Canada's anti-money laundering and anti-terrorist financing (AML/CFT) obligations.
Required Documents
GBH Canada may require (non-exhaustive list):
Incorporation documents or equivalents.
Identity documents of legal representatives and beneficial owners.
Proof of address and activity.
Articles of association of the company.
Any document justifying the activity according to Canadian standards.
Ongoing Audits
GBH Canada may at any time require additional documentation and conduct periodic audits in accordance with Canadian regulations.
Monitoring and Reporting
GBH Canada continuously monitors transactions for suspicious activity according to Bank of Canada standards. In the event of false, incomplete, or suspicious information, GBH Canada may refuse to open, suspend, or close the Account, and inform the relevant Canadian authorities in accordance with legal obligations.
Services Provided by GBH Canada
Core Services
GBH Canada provides the following Services under the KViTKA brand:
Opening and managing multi-currency accounts (fiat and crypto).
Domestic and international transfers (SEPA, SWIFT, etc.).
Corporate cards (virtual and physical).
Inbound and outbound payments.
Foreign exchange services.
APIs and integrations.
Reporting and transaction histories.
Safeguarding
In accordance with Canadian money services regulations, GBH Canada safeguards Client funds according to the following principles:
Backup Accounts
Clients' funds are held in segregated bank accounts (safeguarding accounts) separate from GBH Canada's own funds.
These accounts are opened with regulated and supervised first-tier banking institutions.
The names of the accounts clearly identify that they contain Client funds.
Segregation of Assets
Complete legal separation between Client funds and GBH Canada's assets.
Inability of GBH Canada's creditors to seize Clients' funds.
Separate posting and daily balance reconciliation.
Partner Banks
Safeguard accounts are opened with banks selected according to strict criteria:
Institutions regulated by recognized banking authorities.
High financial rating (minimum A- or equivalent).
Location in stable jurisdictions (Canada, European Union, United States).
Coverage by the applicable Deposit Guarantee Schemes.
Deposit Insurance
Funds may benefit from the protection of deposit guarantee schemes depending on the jurisdiction of the partner bank.
Information on coverage levels available upon request.
Allocation of funds between several institutions if necessary to optimize protection.
Controls and Monitoring
Daily reconciliation of Customer balances and backup accounts.
Annual external audit of the compliance of safeguarding arrangements.
Regular reporting to the Canadian competent authorities.
Ongoing monitoring of the financial health of partner banks.
Regulatory Limitations
The Services are subject to the limitations and restrictions imposed by:
Canadian Money Services Regulations.
GBH Canada's Internal Policies.
The requirements of the financial partners.
Availability of the Services
GBH Canada's Services are available 24/7, subject to scheduled maintenance notified in advance and Canadian regulatory constraints.
Terms of Use
Permitted Use
The Client agrees to use the GBH Canada Services only for its legitimate business purposes, in compliance with Canadian laws and its jurisdiction.
Activities Prohibited by GBH Canada
It is strictly prohibited to use the Services for activities prohibited by Canadian law, including:
Fraud, money laundering, terrorist financing.
Crypto assets not authorized by Canadian authorities.
Illegal gambling under Canadian law.
Sale of prohibited goods or services.
MLM activities or pyramid schemes.
Circumvention of international sanctions.
GBH Canada Monitoring and Measurement
GBH Canada reserves the right to:
Block any suspicious transaction according to its criteria.
Request additional supporting documents.
Report to the appropriate Canadian authorities.
Temporarily or permanently suspend access to the Services.
Access and Security
GBH Canada Safety Standards
Access to GBH Canada's Services requires authentication in accordance with Canadian standards (strong two-factor authentication required).
Responsibilities of the Client
The Customer is responsible for:
The confidentiality and security of its access credentials to the GBH Canada Services.
Managing the access of its Authorized Users.
Immediate notification to GBH Canada of any security incident.
GBH Canada Security Measures
GBH Canada implements:
Canadian-standard data encryption.
24-hour monitoring of systems.
Compliance with the security standards required by the Bank of Canada.
Regular safety audits.
Presumption of Authenticity
Any transaction carried out with the identifiers will be deemed to have been carried out by the Client to GBH Canada, unless proven otherwise.
Pricing and Billing
GBH Canada Fee Schedule
The Services are invoiced according to GBH Canada's current fee schedule, available on www.kvitka.fr and communicated to the Client prior to the opening of the Account.
Tariff Changes
GBH Canada may change rates with 30 days' notice in accordance with Canadian regulations. Continued use of the Services constitutes acceptance of the new rates.
Billing and Sampling
Fees are automatically debited from the Client's Account at GBH Canada:
Monthly billing for recurring charges.
Immediate charge for introductory and transaction fees.
In the event of insufficient funds, GBH Canada may suspend the Services.
Dispute
Any billing disputes must be made to GBH Canada within 60 days.
Responsibilities and Guarantees
Responsibility of the Client
The Client is responsible to GBH Canada for:
The accuracy of the information provided.
All operations initiated through its Authorized Users.
Compliance with applicable laws in its jurisdiction and Canadian regulations.
Securing access to the Services.
GBH Canada's Liability
GBH Canada is committed to:
Execute trades within the limits of available funds.
Meet Canadian regulatory turnaround timelines.
Maintain the security of systems according to Canadian standards.
Ensuring compliance with Bank of Canada regulations.
Protect Clients' funds in accordance with the safeguarding obligations described in Article 5.2.
Maintain segregation of client assets in accordance with regulations.
Limitations of Liability
GBH Canada is not responsible for:
Indirect or consequential losses.
Delays attributable to banking partners.
Temporary downtime due to maintenance.
Decisions of regulatory authorities (Canadian or foreign).
Force majeure.
Protection of Personal Data
Applicable Legal Framework
GBH Canada processes data in accordance with Canadian legislation on the protection of personal data and applicable international standards.
Purposes of the Processing by GBH Canada
The data is processed by GBH Canada to:
Opening and managing accounts.
Financial services execution.
Compliance with Canadian legal obligations (KYC/AML).
Fraud prevention according to Canadian standards.
Data Transfers
GBH Canada may transmit the data:
To its financial partners for the performance of the Services.
To the relevant Canadian and foreign authorities in connection with legal obligations.
To technical service providers under contract in accordance with Canadian standards.
GBH France as part of its management functions.
Rights of the Client
The Client's rights regarding its data processed by GBH Canada are exercised in accordance with applicable Canadian law and the terms and conditions set out in our Privacy Policy.
Data Retention
GBH Canada retains the data for the time necessary for the purposes of the processing and in accordance with Canadian legal obligations.
Term and Termination
Duration of the Contract with GBH Canada
T&Cs apply from the moment the Account is opened with GBH Canada and remain in effect until it is finally closed.
Termination by the Client
The Client may terminate its Account with GBH Canada:
Anytime with 30 days' notice.
Subject to the settlement of all ongoing transactions.
After transferring or withdrawing available funds.
Termination by GBH Canada
GBH Canada may suspend or close an Account:
In the event of non-compliance with these T&Cs.
For suspected fraud or illegal activity.
If there is a Canadian legal or regulatory obligation.
For business reasons with 30 days' notice.
Effects of Termination
In the event of termination:
GBH Canada's Services are immediately discontinued.
Available funds are returned within 15 working days to a bank account designated by the Client.
Continued protection: funds remain protected in backup accounts until fully returned.
Data is retained in accordance with Canadian legal obligations.
Current fees are deducted before the balance is returned.
Complaints and Dispute Resolution
GBH Canada Internal Procedure
In the event of a complaint regarding the Services, the Client may contact:
Send a letter to GBH Canada's head office: 80 Birmingham St, Unit C6, Toronto, Ontario, Canada, M8V 3W6.
Completion Times
GBH Canada is committed to:
Acknowledge receipt within 48 hours.
Respond within 15 working days.
Escalate internally if necessary.
Mediation and Arbitration
In the event of a persistent dispute with GBH Canada, the Client may refer to:
Competent Mediation Authorities under Canadian Law.
Any dispute resolution mechanism provided for in the regulations applicable to money services in Canada.
Changes to T&Cs
GBH Canada may amend these T&Cs:
With 30 days' notice for substantial changes.
Notification by email and on the Platform.
Your continued use of the Services constitutes acceptance of the changes.
The Customer may terminate in the event of disagreement with the changes.
Force Majeure
GBH Canada is not responsible for delays or non-performance due to force majeure events affecting its operations in Canada or internationally:
Natural disasters.
Major cyberattacks.
Armed conflicts, social unrest.
Canadian or foreign government decisions.
Widespread infrastructure outages.
Miscellaneous Provisions
Severability of Clauses
If a clause is declared invalid by a competent court, the other provisions remain applicable.
Non-waiver
GBH Canada's failure to exercise a right does not constitute a waiver.
Assignment
The Customer may not assign its rights and obligations to GBH Canada without prior written consent.
Language and Interpretation
In the event of a translation, the English version shall prevail for the interpretation of the relationship with GBH Canada.
Applicable Law and Jurisdiction
Applicable Law
These T&Cs and the contractual relationship with GBH Canada shall be governed by the laws of Canada, Province of Ontario.
Jurisdiction
Any dispute relating to the Services provided by GBH Canada shall be subject to the exclusive jurisdiction of the courts of Toronto, Ontario, Canada, unless otherwise applicable to the Customer by public policy.
Severability Clause
If the law of the Client's country imposes the application of a different law or a different jurisdiction for certain aspects of the contractual relationship, these provisions will apply to the extent strictly necessary to comply with the law.