These Terms of Service govern access to and use of the Silicon Silk platform and all related services provided by SILICON SILK LTD., a Money Services Business registered with FINTRAC in Canada.
This platform, together with the website located at siliconsilk.ca and all associated interfaces, portals, and services, is owned and operated by SILICON SILK LTD., a corporation registered as a Money Services Business under MSB Registration No. C100000527.
SILICON SILK LTD. is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and is subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations.
Registered address: 5307 Victoria Drive, Suite 851, Vancouver, BC V5P 3V6, Canada.
Please read these Terms of Service carefully before using the Platform. They constitute a binding legal agreement between you and SILICON SILK LTD.
By accessing, browsing, registering for, or otherwise using the Platform or any Service offered by SILICON SILK LTD. (the "Company", "we", "us", or "our"), you acknowledge that you have read, understood, and agree to be bound by these Terms of Service (the "Terms"), together with our Privacy Policy and any supplementary product terms, schedules, or service agreements that we may provide to you.
If you are entering into these Terms on behalf of a company, partnership, or other legal entity, you represent and warrant that you have full authority to bind that entity, and references to "you" or "User" include that entity.
If you do not agree with any part of these Terms, you must not access or use the Platform or the Services.
For the purposes of these Terms, the following definitions apply:
The Services are provided for commercial and business purposes. To be eligible to use the Services, you must:
The Company may, at its sole discretion and without obligation to provide reasons, decline to establish or continue a business relationship with any applicant or User where doing so would be inconsistent with Applicable Law or the Company's risk appetite.
To access most Services, you must complete the Company's registration and onboarding process. During registration, you agree to provide accurate, current, and complete information regarding your business, its ownership and control structure, its directors and authorised representatives, the nature and purpose of the intended business relationship, and the expected volume and nature of Transactions.
Account opening is subject to successful identity verification and Know Your Client ("KYC") checks. We may request corporate documents, identification documents, proof of address, beneficial ownership declarations, source of funds evidence, and supporting trade or commercial documentation, both at onboarding and at any time thereafter.
You are responsible for maintaining the confidentiality of your Account credentials and for all activity conducted under your Account. You must notify us immediately at info@siliconsilk.ca if you suspect any unauthorised access, loss of credentials, or other security incident affecting your Account.
You must keep your Account information up to date and notify us promptly of any material change to your business, including changes in beneficial ownership, control, registered address, business activity, or regulatory status.
Subject to these Terms, Applicable Law, and the availability of Partner infrastructure, the Company may make the following Services available to you:
The Company is a registered Money Services Business. It is not a bank, and balances held in connection with the Services are not deposits. Balances are not insured by the Canada Deposit Insurance Corporation or any equivalent deposit insurance scheme, and no interest is payable on any balance unless expressly agreed in writing.
Service availability, supported currencies, corridors, and limits may change from time to time. Settlement and processing times are estimates only and depend on Partners, correspondent banks, payment networks, cut-off times, currency, and compliance review. The Company does not warrant uninterrupted or error-free operation of the Platform.
All Transactions are subject to compliance screening. We may delay, hold, decline, reverse, return, or refuse to process any Transaction where required by Applicable Law, where a Partner declines to process it, where information or documentation is incomplete, or where we identify a compliance, sanctions, fraud, or risk concern.
Fees applicable to your use of the Services are set out in the fee schedule, pricing confirmation, or commercial agreement provided to you during onboarding or subsequently made available through the Platform.
The Company may amend its fees by providing notice in accordance with Section 14. Continued use of the Services after the effective date of a fee change constitutes acceptance of the revised fees.
You agree that, in connection with your use of the Platform and the Services, you will:
You must not use the Platform or the Services to:
Any breach of this Section may result in immediate suspension or termination of your Account and, where applicable, reporting to competent authorities.
As a Money Services Business registered with FINTRAC under MSB Registration No. C100000527, SILICON SILK LTD. maintains a compliance program in accordance with the PCMLTFA and associated regulations. By using the Services, you acknowledge and agree to the following:
We are required to identify and verify our clients, identify beneficial owners and persons exercising control, understand the nature and purpose of the business relationship, conduct ongoing monitoring, and apply enhanced due diligence to higher-risk relationships and Transactions. You agree to cooperate fully with such measures and to provide requested information within the timeframes specified.
We are obliged to report certain Transactions and activity to FINTRAC and other competent authorities, including suspicious transaction reports, large cash transaction reports, large virtual currency transaction reports where applicable, electronic funds transfer reports, and terrorist property reports. Where we file such a report, we are prohibited by law from disclosing that fact, and nothing in these Terms requires us to do so.
Users, beneficial owners, counterparties, and Transactions are screened against applicable sanctions and watch lists, including lists maintained under Canadian law and by other relevant authorities. We may freeze, block, decline, or report funds and Transactions as required.
We retain identification, Transaction, and compliance records for the periods prescribed by Applicable Law, which generally require retention for at least five (5) years. Further detail is set out in our Privacy Policy.
We may disclose information relating to you, your Account, and your Transactions to regulators, law enforcement, tax authorities, courts, Partners, and correspondent institutions where required or permitted by Applicable Law.
All rights, title, and interest in and to the Platform, including its software, source code, design, structure, interfaces, text, graphics, logos, trade marks, trade names, and documentation, are and remain the exclusive property of SILICON SILK LTD. or its licensors. The "SILICON SILK" name and logo are proprietary marks of the Company.
Subject to your compliance with these Terms, the Company grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the Platform solely for the purpose of using the Services for your own business operations.
You must not copy, modify, distribute, sell, licence, publish, frame, scrape, create derivative works from, or reverse engineer any part of the Platform, nor remove or obscure any proprietary notice, except to the extent such restriction is prohibited by Applicable Law.
Any feedback or suggestions you provide regarding the Services may be used by the Company without restriction or obligation to you.
To the maximum extent permitted by Applicable Law:
Where liability cannot lawfully be excluded, the Company's aggregate liability arising out of or in connection with the Services, whether in contract, tort, or otherwise, shall not exceed the total fees actually paid by you to the Company in respect of the Services during the three (3) months immediately preceding the event giving rise to the claim.
You agree to indemnify and hold harmless the Company, its directors, officers, employees, and Partners against all claims, losses, liabilities, and reasonable costs arising from your breach of these Terms, your breach of Applicable Law, or the inaccuracy of information you have provided.
Nothing in these Terms excludes or limits liability for fraud, fraudulent misrepresentation, or any other liability that cannot lawfully be excluded or limited.
You may terminate your relationship with the Company at any time by providing written notice to info@siliconsilk.ca, subject to settlement of outstanding Transactions and fees.
The Company may suspend, restrict, or terminate your Account or access to all or part of the Services, with or without prior notice, where:
Upon termination, any remaining balance will be returned to a verified account in your name, subject to deduction of outstanding fees and to any legal, regulatory, or Partner restriction, hold, or freezing requirement. Sections relating to compliance, intellectual property, limitation of liability, dispute resolution, and governing law survive termination.
If you have a complaint or dispute, you should first contact us at info@siliconsilk.ca with a description of the issue and any relevant Transaction references. We will acknowledge your complaint and work in good faith to resolve it promptly.
If the matter is not resolved to your satisfaction, it may be escalated in writing to the Company's compliance function at its registered address for formal internal review.
Any dispute, controversy, or claim arising out of or relating to these Terms or the Services that is not resolved through the process above shall be referred to and finally determined by arbitration seated in Vancouver, British Columbia, conducted in the English language in accordance with the rules of the British Columbia International Commercial Arbitration Centre (operating as the Vancouver International Arbitration Centre), unless the parties agree otherwise in writing. Notwithstanding the foregoing, either party may seek injunctive or other equitable relief from the courts of British Columbia, and the Company may bring proceedings for the recovery of amounts owed to it in any court of competent jurisdiction.
To the extent permitted by Applicable Law, disputes shall be resolved on an individual basis and not as part of any class, collective, or representative proceeding.
These Terms and any dispute or claim arising out of or in connection with them, including their existence, validity, interpretation, performance, breach, or termination, are governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard to conflict of law principles.
Subject to Section 12, you irrevocably submit to the exclusive jurisdiction of the courts of the Province of British Columbia, Canada.
Your use of the Services does not relieve you of any obligation to comply with the laws of your own jurisdiction, and you are responsible for determining whether your use of the Services is lawful where you are located.
The Company reserves the right to amend these Terms at any time in order to reflect changes in Applicable Law, regulatory expectations, Partner requirements, the Services, or its business practices.
Where an amendment is material, we will provide notice by posting the revised Terms on the Platform with an updated effective date, and where appropriate by email or in-portal notification. Unless a longer period is required by Applicable Law, material amendments take effect thirty (30) days after notice is given. Amendments required for legal, regulatory, or security reasons may take effect immediately.
Your continued access to or use of the Platform or the Services after the effective date constitutes acceptance of the revised Terms. If you do not accept them, you must cease using the Services and may terminate your Account in accordance with Section 11.
Questions, notices, and requests relating to these Terms should be directed to:
Formal legal notices must be provided in writing to the registered address above, with a copy by email.