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The following Terms apply to the Regular Payments Plan and form an Addendum to the Caxton International Payments Terms and Condition that apply to you (You / Your) as a Caxton International Payments customer. You agree to this Addendum by ticking acceptance of the Terms and Conditions as identified in the Plan setup process online. Once agreed and entered into, the Regular Payments Plan cannot be changed without incurring charges.

This Addendum is intended to govern only the services regarding the Regular Payments Plan; all other provisions of the Caxton International Payments Terms & Conditions remain operative and shall govern all other Caxton services. <br><br>

1. Contact details

If there is anything You do not understand or agree with, please contact Caxton using the following details:

Telephone: 0333 123 1815 or 44 (0) 207 235 3435 from outside the UK;<br> Mailing address: Caxton FX Ltd 30 St Mary Axe, London, EC3A 8BF, UK;<br> Email: [email protected]<br> <br><br>

2. Regular Payments (Plan) options

The Regular Payments (Plan) gives you the option to make monthly payments to a UK recipient (a GBP Plan) or an International recipient (a Currency Plan). Under the terms of this Regular Payments Plan Addendum, You agree to making a series of monthly payments with the purpose of sending a fixed monthly sum to a fixed recipient. <br><br>

2.1 Currency Plan

When You set up a Regular Payments Plan in a non-GBP currency (Currency Plan) you choose the following parameters, all of which become fixed when You complete the set-up process; the Plan Currency; the number of monthly Plan Payments; and the Payment Day of the month You want Caxton to take and send the payment.

To provide the Currency Plan, Caxton buy a Forward Contract on the currency markets. By its nature, and under the terms of this Addendum, a Forward Contract is a binding agreement between You and Caxton to buy the Final Amount of currency at the future end date of the plan at an agreed rate of exchange. These Currency Plan arrangements are fixed. See the Changes section and the Cancellation section in this Addendum. <br><br>

2.2 GBP Plan

When You set up a Regular Payments Plan in GBP (GBP Plan) you choose the following parameters; GBP as the Plan Currency; the number of monthly Plan Payments; and the Payment Day of the month You want Caxton to take and send the payment. <br><br>

3. Plan Setup

To setup your Regular Payments Plan you must be a Caxton International Payments customer and must setup your Plan via Your online account. Once you have entered the required information online to define the Plan, a Plan Quote will be displayed showing any applicable rate of exchange (not applicable for a GBP Plan), the amount of each monthly Plan Payment and the total of the Plan Payments. The Plan Quote will be valid for a duration of 5 mins after which you will be alerted via the setup process that the Your Plan Quote has expired. To complete the setup You will be asked to confirm permission for Caxton to take the Plan Payments from the debit card registered against Your Caxton Account and to accept the Regular Payments Plan terms and conditions. <br><br>

4. Plan Payments

Under the terms of this Addendum, You are obliged to make the Plan Payments on the monthly Payment Day You defined when setting up Your Plan. Caxton will take Plan Payments on the monthly Payment Day from the debit card you authorised for payments in the setup process. The first Plan Payment will be taken when you sign up for the Plan. Thereafter, the Plan Payments will be taken the next and subsequent calendar months on the monthly Payment Day you have requested.

Should the debit card You authorised during the Plan Setup becomes invalid for any reason during the Plan Payment Period You must notify Caxton. If Caxton is unable to take a due Plan Payment from the debit card provided, Caxton will endeavour to contact You at the earliest opportunity. In the event of non-payment after 72 hours Caxton will cancel Your Plan and the Cancellation terms will apply; see the Cancellation section of this Addendum. <br><br>

5. Payment protection

CFX offers client money protection if the client sends money to CFX prior to a Payment Transaction taking place or if CFX is explicitly requested by the client to hold money for them after a transaction has been completed.

CFX holds all client money in accordance with the Financial Conduct Authority's (FCA) Client Money rules and the Payment Services rules for safeguarding. This means it holds clients' money separately from the firm's money in a designated Client Trust Account in an EU regulated credit institution. This arrangement is designed to ensure that client money is not a risk in the unlikely event of CFX getting into financial difficulties.

Neither Spot Foreign Exchange nor Payment Services are regulated investment products so do not fall under the Financial Services Compensation Scheme. <br><br>

6. Changes

Caxton is unable to permit changes to the Plan Currency, the Plan amount, the Plan Period or the monthly Payment Day. In the first instance you should contact Caxton. To amend or change Your Plan it will be necessary to cancel Your existing Plan and the relevant Cancellation terms will apply; see the Cancellation GBP Plan or Cancellation Currency Plan in this Addendum. <br><br>

7. Cancellation

Your Plan can be cancelled by You or by Caxton in the event of an unpaid Plan Payments after 72 hours. If You need to cancel Your Plan you must contact Caxton; Contact Details are provided in the Addendum. Please see below for the specific Cancellation terms for your Plan. <br><br>

7.1 Cancelling a GBP Plan

If you have a GBP Plan there are no cancellation charges. In the event of Cancellation of a GBP Plan, Caxton will cease taking payments from Your authorised debit card. If the cancellation is less than 5 days before the next Plan Payment is due, the Plan Payment may still be deducted from Your authorised debit card; in this case Caxton will contact you to discuss refund arrangements. <br><br>

7.2 Cancelling a Currency Plan

If you have a Currency Plan an Administration fee of £50 plus any applicable Reversal Loss will be due for payment by You.

The Reversal Loss is dependent on the exchange rate difference between when You setup Your Plan and the cancellation date applied to the currency You do not take delivery of. The Reversal Loss will be calculated and confirmed to You by Caxton.

If the cancellation is less than 5 days before the next Plan Payment is due, the Plan Payment may still be deducted from Your authorised debit card; in this case Caxton will contact you to discuss refund arrangements.

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