Know Your Business (KYB) Form – Comprehensive Disclosure, Third-Party Reliance, Data Processing, and Limitation of Liability
Important Notice: This document constitutes a legally binding disclosure and consent. By completing, executing, or submitting this KYB form, you (the "Applicant", "You", or "Your") expressly acknowledge, represent, warrant, and agree to be bound by the terms set out below.
1. Definitions
For the purposes of this disclosure:
- "SpacePay" means SpacePay and its affiliates, group companies, successors, and assigns.
- "Third Parties" means any regulated or unregulated third-party entities engaged by SpacePay, including but not limited to financial institutions, electronic money institutions, payment service providers, acquiring banks, card schemes, identity verification providers, compliance vendors, fraud prevention services, blockchain analytics providers, auditors, legal advisors, regulators, and subcontractors.
- "Applicable Laws" means all laws, regulations, rules, regulatory guidance, and codes of practice applicable to SpacePay and/or any Third Party, including but not limited to anti-money laundering (AML), counter-terrorist financing (CTF), sanctions, fraud prevention, and data protection laws (including the UK GDPR and Data Protection Act 2018).
2. Express Consent to Collection, Processing, and Sharing
You hereby provide your explicit, informed, unconditional, and irrevocable (to the fullest extent permitted by law) consent to SpacePay to:
- Collect, receive, verify, store, analyse, and otherwise process any and all information, documentation, and data provided in connection with this KYB form ("KYB Information");
- Share, transfer, disclose, or otherwise make available such KYB Information to Third Parties in any jurisdiction worldwide, including jurisdictions that may not provide an equivalent level of data protection as your home jurisdiction;
- Permit Third Parties to further process, analyse, retain, and share such KYB Information as required for their own legal, regulatory, and operational purposes.
You acknowledge that such processing may involve automated decision-making, profiling, risk scoring, and ongoing monitoring.
3. Purpose and Scope of Disclosure
You acknowledge and agree that KYB Information may be used and disclosed for purposes including, without limitation:
- Identity verification, beneficial ownership determination, and corporate structure analysis;
- AML, CTF, sanctions screening, fraud detection, and risk assessment;
- Transaction monitoring (both pre- and post-onboarding);
- Onboarding, account provision, and service enablement;
- Facilitation of services that SpacePay does not itself directly provide, including but not limited to regulated payment services, custody, settlement, and fiat or digital asset processing;
- Compliance with Applicable Laws, regulatory reporting obligations, and lawful requests from competent authorities.
4. Third-Party Reliance and Service Provision
You expressly acknowledge and agree that:
- SpacePay may, at its sole discretion, rely on Third Parties to perform all or any part of the services requested by you;
- Certain services may be provided exclusively by Third Parties where SpacePay is not authorised, licensed, or operationally capable of providing such services directly;
- Your relationship in respect of such services may be directly or indirectly with such Third Parties, and you may be subject to their separate terms, conditions, policies, and regulatory obligations;
- SpacePay makes no representation, warranty, or guarantee as to the availability, suitability, or continuity of any Third-Party services.
5. No Agency; Independent Contractors
Nothing in this KYB process or any related interaction shall be construed as creating any partnership, joint venture, fiduciary relationship, or agency relationship between SpacePay and any Third Party. All Third Parties act as independent contractors.
6. Extensive Limitation of Liability
To the fullest extent permitted by Applicable Laws, you agree that SpacePay shall not be liable (whether in contract, tort (including negligence), misrepresentation, statutory duty, or otherwise) for:
- Any acts, omissions, errors, delays, refusals, or decisions made by any Third Party;
- Any denial, suspension, or termination of services by a Third Party;
- Any loss of business, revenue, profits, opportunity, goodwill, or anticipated savings;
- Any indirect, consequential, incidental, special, or punitive damages;
- Any loss or damage arising from regulatory action, account freezing, transaction blocking, or enhanced due diligence measures undertaken by SpacePay or any Third Party;
- Any inaccuracies, deficiencies, or outdated information arising from Third-Party data sources or verification systems.
This limitation shall apply even where SpacePay has been advised of the possibility of such losses.
7. Regulatory Disclosure and Compelled Sharing
You acknowledge that SpacePay and/or any Third Party may disclose your KYB Information:
- To regulators, supervisory authorities, law enforcement agencies, tax authorities, or courts;
- In response to subpoenas, court orders, or other legal processes;
- For the purposes of investigations, enforcement actions, or regulatory inquiries;
- Without prior notice to you where such notice is prohibited or impracticable.
8. Data Retention and Cross-Border Transfers
You acknowledge and agree that:
- KYB Information may be retained for as long as required to satisfy legal, regulatory, contractual, or operational requirements, including after termination of any relationship;
- Such information may be transferred, stored, and processed outside the United Kingdom or European Economic Area;
- Appropriate safeguards may be implemented where required, but equivalent data protection standards cannot be guaranteed in all jurisdictions.
9. Warranties and Undertakings
You represent, warrant, and undertake that:
- All KYB Information provided is true, accurate, complete, and not misleading;
- You have obtained all necessary consents, authorisations, and permissions from any individuals whose personal data is included;
- You will promptly notify SpacePay of any changes to the information provided;
- You will cooperate fully with any requests for additional information, documentation, or verification.
10. Right to Refuse, Suspend, or Terminate
SpacePay and/or any Third Party reserves the absolute and unfettered right, at any time and without liability, to:
- Refuse onboarding or provision of services;
- Suspend or terminate any relationship;
- Request additional information or enhanced due diligence;
- Take any action deemed necessary to comply with Applicable Laws or internal risk policies.
11. No Reliance
You acknowledge that:
- You do not rely on SpacePay to provide regulated financial, legal, or compliance services beyond its expressly stated scope;
- SpacePay does not provide legal, tax, or regulatory advice;
- You are solely responsible for obtaining independent professional advice where required.
12. Indemnity
You agree to fully indemnify, defend, and hold harmless SpacePay from and against any and all claims, liabilities, losses, damages, costs, and expenses (including legal fees on a full indemnity basis) arising out of or in connection with:
- Any breach of this disclosure;
- Any inaccuracy or omission in the KYB Information;
- Any act or omission by you or your representatives;
- Any Third-Party reliance on the information provided.
13. Severability and Enforceability
If any provision of this disclosure is held to be invalid or unenforceable, such provision shall be severed, and the remaining provisions shall remain in full force and effect.
14. Governing Law and Jurisdiction
This disclosure and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with the laws of England and Wales. The courts of England and Wales shall have exclusive jurisdiction.
15. Acceptance
By submitting this KYB form, you confirm that you have read, understood, and agree to be legally bound by this disclosure in its entirety.
If you do not agree to these terms, you must not submit this KYB form.
Disclosure Version 1.0 — Effective 30 March 2026