[Consultation] Drafting Terms of Use for Overseas Money Transfers and Currency Exchange Services]
Article posted in 2022-03-14 09:07:30 | VEAT
Law firm Veat provides overseas remittance and currency exchange services for a client of A, and provided legal advice regarding the terms of service.
A, which develops and operates a small overseas remittance and currency exchange service application, requested legal advice regarding overseas remittance business and related terms of service.
Accordingly, Law firm Veat reviewed whether A’s small overseas remittance business complied with the obligations under the Foreign Exchange Transaction Act, and assisted in drafting terms of service to align with A’s currency exchange policies while operating as a small overseas remittance business.
When operating a business that involves transferring funds or exchanging currency overseas, it is necessary to provide members with key information related to overseas remittance business in accordance with the Enforcement Decree of the Foreign Exchange Transactions Act (Article 15(4) of the Enforcement Decree of the Foreign Exchange Transactions Act).
Law firm Veat is assisting you to operate your business stably while complying with the obligations under the Foreign Exchange Transactions Act regarding overseas remittance business and related terms of service. If you need legal advice regarding overseas remittance business, the Foreign Exchange Transactions Act, and terms of service, please contact Law firm Veat.
Thank you.