Terms of Service

Terms of Service: Verispect Ltd is a financial technology software provider, not a bank. Cross-border banking infrastructure services are securely provided by our licensed global banking partners.

Verispect Ltd is a technology orchestration layer, not a licensed commercial bank or deposit-taking institution. Global virtual ledger clearing routes, multi-currency collections, and localized settlement services are securely processed via our integrated, fully regulated Tier-1 banking partners and licensed regional payment gateways.

Balances shown in the platform represent your entitlement recorded on the Netract ledger against funds held with our banking partners. They are not bank deposits and are not covered by any deposit guarantee or insurance scheme.

The platform is available to business entities and registered sole traders engaged in the lawful export of technology and digital services. You must complete Know Your Business (KYB) verification before collection accounts are issued, and you must keep your registration, ownership, and contact records accurate.

You are responsible for safeguarding your credentials and API keys, and for all activity performed under them. Notify us immediately of suspected unauthorized access.

You may use Netract solely to invoice bona fide clients for services actually rendered, and to receive and localize the resulting proceeds. You may not use the platform for third-party payment processing on behalf of unrelated parties, for the collection of funds unrelated to your own services, or for any activity prohibited by our banking partners or applicable law.

Prohibited activity includes money laundering, terrorist financing, sanctions evasion, fraudulent invoicing, unlicensed money transmission, and any use designed to disguise the origin, destination, or purpose of funds.

Inbound collections and the retention of balances in hard currency carry no fee. A platform processing fee is applied to each settlement transaction at the rate published on our pricing page for your tier. Currency conversions are executed at a live floating reference rate captured at the moment you confirm a payout; the rate, fee, and net local amount are displayed before confirmation and recorded immutably on the resulting transaction.

Payout instructions are executed through licensed regional payment gateways. Availability of local rails, mobile wallet networks, and banking channels is outside our control, and settlement times are targets rather than guarantees. We may delay, decline, or reverse an instruction where required by law, by a partner institution, or by our compliance obligations.

You are responsible for the accuracy of payout beneficiary details. Transfers dispatched to a beneficiary identifier you supplied may be irreversible.

You agree to provide requested documentation regarding your business, its beneficial owners, your clients, and the underlying commercial relationship for any invoice. We may suspend collection accounts or withhold payouts pending completion of compliance review.

You are solely responsible for determining, reporting, and remitting all taxes, duties, and levies arising from your invoicing and receipts, in every relevant jurisdiction. Netract provides transaction records for your accounting but does not provide tax advice.

The platform is provided on an "as available" basis. To the maximum extent permitted by law, Verispect Ltd is not liable for indirect, incidental, or consequential losses, loss of profit, or loss of business opportunity. Our aggregate liability for any claim is limited to the platform fees you paid in the three months preceding the event giving rise to the claim.

Either party may terminate the relationship with notice. We may suspend or terminate access immediately where required by law or by a partner institution, or where we reasonably suspect prohibited activity. On termination you may instruct payout of remaining balances, subject to compliance clearance.

These terms are governed by the laws of England and Wales, and the courts of England and Wales have exclusive jurisdiction over any dispute arising from them.