Terms & Conditions
Funds & Asset Recovery Services (“FARS”) specializes in assisting individuals and companies across the United States to recover unclaimed monies and/or lost financial assets that they are legally entitled to from various government bodies and financial institutions.
These Terms & Conditions (“Terms”) form the Agreement under which FARS will supply their Services, as outlined at www.FundsARS.com (“Site”). Prior to the purchase of our Services, please read the Terms carefully and contact us at Cherise@FundsARS.com should you have any questions.
Within the Terms, “FARS”, “we” or “us” refers to Funds & Asset Recovery Services, its successors and assignees. “You” and “your” means the person, organisation or entity that purchases Services from us.
1. Definitions
In this Agreement, unless the context otherwise requires: "Service Fees" refers to, in the case of Recovered Money and/or Recovered Asset, 20% (for individual beneficiaries) and 25% (for commercial or trust beneficiaries), of the total value of Recovered Money and/or Recovered Asset (as the case may be) that will be payable by you to us; "Recovered Money" means all monies directly recovered by us; "Recovered Asset" means all financial assets directly recovered by us; "Services" means Unclaimed Money Services and Unclaimed Asset Services provided by us; “Third Party” means any outside person, group, broker, government body or financial institution; "Unclaimed Money Services" means our services in locating unclaimed monies belonging to you and arranging their return to you; "Unclaimed Asset Services" means our services in locating unclaimed financial assets belonging to you and arranging their return to you.
2. Contract
Your purchase from us indicates that you have had sufficient opportunity to access the Terms and contact us, that you have read, accepted and will comply with the Terms, that you have legal capacity to enter into a contract for sale, and that you are eighteen (18) years of age or older, or alternatively if you are younger than eighteen (18) years of age you have the approval of your parent or guardian to order Services from us. If you do not agree to the Terms, please do not purchase Services from us. Once you have accepted the Terms, you may not withdraw from our Services to process your claim without payment of the applicable Service Fees for our Unclaimed Money Services and/or Unclaimed Asset Services.
3. Amendment
The Terms may be amended from time to time, without prior notice. Your purchase of Services from us following any such amendments will be deemed to be confirmation that you accept those amendments. We recommend reading the current Terms located at our Site before the purchase of our Services. Our agents, employees and Third Parties do not have authority to change the Terms.
4. Other Terms and Conditions
The Privacy Policy available at our Site sets out how we collect, use and protect your personal information. The Terms take priority over any other terms and conditions, for the subject matter of the Terms.
5. Authority to Act on Your Behalf
You hereby engage FARS to act on your behalf so that we may provide our Services to you. You hereby authorize FARS to do whatever is necessary so that we may fulfil our obligations and provide our Services to you and this shall include, but is not limited to, authority to engage with and contact Third Party organisations on your behalf. You also acknowledge that we may engage Third Party organisations to assist us with the Unclaimed Money Services and/or Unclaimed Asset Services. By accepting the Terms, you hereby authorize FARS to engage such Third Party organizations for these purposes. You authorize FARS to direct any Recovered Money or proceeds from Services provided by us to be deposited into the FARS trust account and for Service Fees to be deducted as per the calculation and provision dealing with such deductions in this Agreement.
6. Duties of FARS
FARS will: Provide the Services in a timely and professional manner; Ensure that its conduct and the conduct of its employees are ethical and honest; At your request, make available its records and provide you with copies of documents to allow you to be satisfied that FARS has met its obligations under the Terms; Otherwise comply with its duties and obligations under the Terms; Comply at all times with Privacy legislation, guidelines, code of conducts, regulations and other legislation relevant to the Services, and will ensure that its employees, agents, subcontractors and servants receive appropriate training and remain conversant with such requirements.
7. Your Duties
You agree that you will: Provide FARS with all identification documentation including any necessary certified copies of such identification, to allow us to deliver our Services; Provide FARS with other such information depending on the nature of your claim, such as your Tax File Number and financial asset identification details; Complete all necessary claim and authority forms required to process your claim in order to recover your unclaimed monies and/or unclaimed financial assets, pay proceeds into your nominated bank account, and arrange for such forms to be witnessed and/or certified as required; Comply with Privacy legislation, guidelines, code of conducts, regulations and other legislation relevant to the Services in respect of any personal information provided or disclosed by you to FARS. You also agree to cooperate with FARS in the resolution of any disputes, complaints or investigations in relation to personal information provided or disclosed by you to us; Immediately inform FARS if you receive payment of, or settlement of, unclaimed monies and/or unclaimed financial assets owing you from a Third Party that might have otherwise been recovered through use of our Services. You acknowledge that payment of our Services shall still be owing to us in this instance.
8. Delivery of Services
We shall make reasonable efforts to ensure that any Recovered Money and/or Recovered Asset (including proceeds of) owing to you are returned to you within ten (10) weeks from receipt of all information and documentation requested by us. However, we accept no responsibility for any delays in providing the Services to you, including in relation to the processing of your claim. You acknowledge that you are responsible for supplying FARS with correct information and documentation in a timely manner, and that incorrect information and documentation or delays in providing such, may result in delays in us processing your claim and recovering your unclaimed monies and/or unclaimed financial assets.
9. Payment
You shall pay to us: Service Fees upon recovery of any Recovered Money and/or Recovered Asset; Brokerage fees (in the case of recovered shares), which we would have notified you of the amounts in advance of such fees being incurred; Goods and Services Tax (GST) Amount (as applicable); All external expenses reasonably incurred by us in the performance of the Services, where we have first obtained your approval to incur such external expenses; You acknowledge and agree that payment (being the Service Fees plus any external expenses approved by you), is still owed by you to us in the event of termination of this Agreement for whatever reason, excluding where this Agreement is terminated due to non-recovery of your unclaimed monies and/or unclaimed financial assets. Please refer to Clause 17 of the Terms for further information on Termination; You hereby authorize FARS to deduct and pay to ourselves from the Recovered Money, all Service Fees including any applicable GST Amounts, and any other amounts, expenses and charges due and payable to us under this Agreement; You agree that in the event of you being paid in error by a Third Party, you will refund the full amount of the transaction within seven (7) days of receipt of a notice of demand from ARC or the Third Party; All payments will be made in United States Dollars; No payment is required by you if we are unsuccessful in recovering your unclaimed monies and/or unclaimed financial assets.
Pricing of our Service Fees and/or payment methods may be amended from time to time at our sole discretion.
10. Goods and Services Tax
All amounts payable to FARS under this Agreement do not include Goods and Services Tax (GST) and when applicable will be itemized separately in invoices issued by us.
11. Trust Account
All Recovered Money will be paid into a trust account operated by a third party financial institution and FARS will arrange the remittance of Recovered Money to you in accordance with this Agreement. FARS shall be responsible for all bank fees, government taxes and duties arising from the operation of the trust account.
12. Direction for use of Recovered Money and/or Recovered Asset
This Agreement shall be deemed to constitute a written direction from you to us for the use and application of all Recovered Money and/or Recovered Asset in the manner provided for in this Agreement or as otherwise directed by you from time to time.
13. Confidentiality
We agree that this Agreement, Recovered Money and Recovered Asset are confidential and sensitive commercial information. Unless otherwise agreed between you and us, or unless disclosure is permitted or required by law, FARS and you will keep this Agreement, Recovered Money and Recovered Asset, and the information relating to them confidential. However, nothing in this clause prevents FARS from disclosing information where it is necessary to do so for the purposes of providing the Services.
14. Intellectual Property Rights
You acknowledge and agree that all rights, title and interest (including all future copyright and other intellectual property rights) in and to all information provided by you to FARS under or in connection with this Agreement (whether provided before or after the date of this Agreement), including all information provided to us, is assigned to FARS at the time that information is provided to FARS. You acknowledge that, as a consequence of the assignment, FARS may retain and use all information supplied to us by you for any purpose authorised by law. You must do everything required (including executing further documents) to give effect to this assignment.
15. Limitation of Liability
You use our Services at your own risk. We exclude all implied conditions and warranties except for your Rights, to the extent permitted by law, including but not limited to: FARS expressly disclaims any implied or express guarantees, warranties, representations or conditions of any kind, which are not stated in the Terms; FARS does not warrant that the Site or your access to the Site will be error free, that any defects will be corrected or that the Site or the server which stores and transmits material to you are free of viruses or any other harmful components; FARS takes no responsibility for, and will not be liable for, the Site or the Services being unavailable or delayed for any reason whatsoever; FARS accepts no liability for your failure or inability or delay in supplying the information or forms or other documentation (in particular for the purposes of identification) required to complete a claim for unclaimed monies and/or unclaimed financial assets; FARS accepts no liability or responsibility for the failure of Third Party organisations (including government bodies and financial institutions) to respond satisfactorily or at all to any claims made to such organisations on your behalf; FARS will not be liable for any loss, damage, costs including legal costs, or expense whether direct, indirect, incidental, special, consequential and/or incidental, including loss of profits, revenue, production, opportunity, access to markets, goodwill, reputation, use or any indirect, remote, abnormal or unforeseeable loss, or any loss or damage relating to business interruption, loss of programs or other data on your information systems or costs of replacement goods, or otherwise, suffered by you or claims made against you, arising out of or in connection with the Site, inability to access or use the Site, the Services, the late supply of Services, or the Terms, even if FARS was expressly advised of the likelihood of such loss or damage; Our total liability arising out of or in connection with the Services, or the Terms, however arising, including under contract, tort (including negligence), in equity, under statute or otherwise, will not exceed the total price paid by you for the purchase of Services under the Terms; This limitation of liability reflects the allocation of risk between you and us. The limitations specified in this section will survive and apply even if any limited remedy specified in the Terms is found to have failed of its essential purpose. The limitations of liability provided in the Terms inure to the benefit of FARS.
16. Indemnity
You agree to defend and indemnify and hold us (and our officers, directors, contractors, employees and agents) harmless from and against any claims, actions, suits, demands, damages, liabilities, costs or expenses (including legal costs and expenses on a full indemnity basis), including in tort, contract or negligence, arising out of or connected to the information provided by you in relation to the Services, your use of or access to our Services; any breach by you of the Terms; any wilful, unlawful, deceitful or negligent act or omission by you; and any violation by you of any applicable laws or the rights of any third party. We reserve the right to assume the exclusive defence and control of any matter otherwise subject to indemnification by you, in which event you will cooperate in asserting any available defenses. This defence and indemnification obligation will survive the Terms and your use of the Services. The Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by us without restriction.
17. Termination
We reserve the right to refuse supply of the Services ordered by you, terminate your account, and terminate our contract with you, without incurring any liability to you; The provision of Services may be terminated by you or us at any time so long as the terminating party provides the other party with no less than seven (7) days written notice.
FARS may terminate this Agreement with immediate effect by giving notice to you if: You fail to pay any amounts due and payable to us; You breach: (i) any provision of the Terms and that breach is not capable of remedy; or (ii) any provision of the Terms which is capable of remedy but fails to remedy that breach within seven (7) days after receiving notice from us to do so; This Agreement terminates if we are unsuccessful in recovering unclaimed monies and/or unclaimed financial assets owing to you. We shall give you written notice of this termination. We require no payment from you if the Agreement is terminated for this reason, and if you have not been in breach of any of your duties under the Terms (in particular relating to the provision of correct information and documentation in a timely manner). If payment has already been made, we shall provide a refund to you within seven (7) days; Upon termination of this Agreement by either party, you must pay us any outstanding balance within seven (7) days as notified by us to you; Termination does not affect any accrued rights or remedies of either party. Each indemnity or any obligation of confidence in the Terms survives termination. Any other term that by its nature is intended to survive termination survives termination including terms related to intellectual property rights and privacy.
18. General
While we endeavour to keep the information up to date and correct, we make no representations, warranties or guarantee, express or implied, about the completeness, accuracy, reliability, suitability or availability of any information, images, products, services, or related graphics contained on the Site for any particular purpose. You hereby acknowledge that such information and materials may contain mistakes, inaccuracies or errors and we expressly exclude any liability for such to the fullest extent permissible by law;
We will not be liable for any delay or failure to perform our obligations under the Terms if such delay is due to any circumstance beyond our reasonable control. If we are delayed from performing our obligations due to such a circumstance for a period of at least eight (8) weeks, we may terminate our agreement with you by giving you seven (7) days written notice;
Any notice in connection with the Terms will be deemed to have been duly given when made in writing and delivered or sent by email, facsimile or post to the party to whom such notice is intended to be given or to such other address, email address or facsimile number known for the party;
Any failure by a party to insist upon strict performance by the other of any provision in the Terms will not be taken to be a waiver of any existing or future rights in relation to the provision. No waiver by us of any of the Terms shall be effective unless we expressly state it is a waiver and we communicate this in writing to you;
You must not assign any rights and obligations under the Terms whether in whole or in part without our prior written consent;
If any of the Terms are determined by any competent authority to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law;
The Terms, your use of the Site and any dispute arising out of your use of it is subject to the laws of New South Wales, and subject to the exclusive jurisdiction of the New South Wales courts. The Site may be accessed throughout Australia and overseas. ARC makes no representation that the content of the Site complies with the laws (including intellectual property laws) of any country outside Australia. If you access the Site from outside Australia, you do so at your own risk and are responsible for complying with the laws in the place where you access the Site;
The Terms and any document expressly referred to in the Terms represent the entire Agreement between you and ARC and supersede any prior agreement, understanding or arrangement between you and us, whether oral or in writing.