General Business Terms of INFORMATIK CONSULTING (Prague) s.r.o.

I. General Provisions

  1. General business terms of INFORMATIK CONSULTING (Prague) s.r.o. (hereinafter referred to as the „Company“), issued in terms of § 1751 et seq. of the Act no. 89/2012 Coll., Civil Code, as amended (hereinafter referred to as “GBT”) regulate basic terms under which the Company provide its clients with services concerning conducting non-cash foreign currency transactions and payment transactions.
  2. The Company provides services to the client base on a framework contract and one-time contracts – orders concluded between the Company and the client – and the GBT, which are an integral part of the Contract. Unless otherwise stipulated in the Contract, the provisions of the Contract shall take precedence over the GBT.
  3. Information about the Company: name INFORMATIK CONSULTING (Prague) s.r.o., with its registered office at Vlkova 532/8, Žižkov, 130 00 Praha 3, incorporated in the Commercial Register of the Municipal Court in Prague, Section C, Insert 42432, email:
  4. The Company is a holder of a license for the activities of a small-scale payment service provider under the Payment System Act (PSA), which was issued by the Czech National Bank. The company is entitled to provide payment services according to § 3 section 1 let. c) and f) of Act No. 370/2017 Coll., on Payment System (hereinafter referred to as “PSA”).
  5. The client declares that he got acquainted before providing services by the Company with the content of the Contract, GBT and Price List, information about the Company, basic information about the provided services, or other important information regarding the conditions of providing services (hereinafter also „important information”). All important information is in the Internet interface of the Company, see
  6. The client agrees that he will be informed of any substantial change in important information or other changes, in particular via the Company’s Internet interface, or via e-mail communication. The Client declares that he has access to the Internet service, uses this service regularly, and has the opportunity to become acquainted with the information provided on the Company’s Internet interface before each service is provided.
  7. The client and the Company have agreed on e-mail correspondence as a common method of communication and a common way of transmitting information in connection with the Contract. E-mail correspondence will be sent by the Company to the e-mail address provided by the client. The client gives the Company and the corporations of the group of which the Company is a member, consent to the sending of e-mail and letter business messages related to the offer of services.


II. Definition of Terms

For purposes of GBT and the Contract, the following is defined:

  1. Client – a physical or corporate entity that entered into a Contract with the Company, based on which services are provided.
  2. Contract – Framework contract which includes the GBT, Price list, and individual payment transactions, or one-time contracts concluded for the purpose to execute a payment transaction.
  3. Payment service or service – payment service according to § 3, section 1 c) Payment System Act; the Company is entitled to provide such a service based on a licence of the Czech National Bank.
  4. Transaction, spot transaction – firmly agreed credit transaction with (foreign) currency; pecuniary means are credited to the Client´s Payment Account and upon Client´s order are debited from this Payment account and send to the external bank account, within the 2nd working day after the transaction was agreed at the latest; pecuniary means also can be purchased or sold during this transaction in one currency for a certain amount of pecuniary means in another currency, at an exchange rate actual in the financial market at the moment of the transaction (spot foreign exchange) whereas the client pays pecuniary means immediately and the Company settles the transaction immediately after receiving client’s payment, but within the 2nd working day after the transaction was agreed at the latest.
  5. Internet interface – access for clients through which they provide the Company with additional information for the execution of a payment transaction. This is a method of transmitting a payment order, not a means of payment to the Company.
  6. exchange rate – the value at which the Company offers the sale or purchase of foreign currency.
  7. trade parameters – purchase currency, sale currency, amount of currency in one trade, the exchange rate on the financial market, identification of the Company including the account number to which the trade will be paid by the client, client identification, including the account number to be paid by Company, the date of settlement of the payment transaction, payment instructions, the price of the service, fees and any other parameters of the transaction.
  8. Working day – day when banks in the Czech Republic are open; a system of payments can be made among such banks.
  9. Market disorder – an unforeseeable event causing that neither the Company nor the client shall be able to gain information about a market exchange rate decisive for the given transaction in the appropriate market or if transactions in the appropriate market are stopped or limited or if there is another market disorder of a system of payments.
  10. Politically exposed person – physical person who has in an important public function with national competency, e.g. head of state, prime minister, minister, deputy or secretary minister, member of the parliament, member of the Supreme Court, Constitutional Court or another higher judicial authority against which decision it is generally not possible to use, with exceptions, discretionary remedies; it can e also a member of the Court of Auditors, supervisory authority of the central bank, high-ranking officer in armed forces or corps, a member of administrative, governing or auditing body of a company in state possession, ambassador or chargé d’affaires, physical entity who has similar functions in bodies of the European Union or other international organizations for the period of this function performance and also for the period of one year after termination of this function; a person who has his permanent address outside the Czech Republic or has such an important public function outside the Czech Republic; and related persons.
  11. PSA – Act no. 370/2017 Coll., on Payment System.


III. Conclusion of a Framework Contract

  1. The framework Contract may be concluded in person, by correspondence, or electronically via the Internet interface.
  2. In the case of the conclusion of a Framework Contract, it shall be concluded when the following conditions are met:
  3. the client gets acquainted with the GBC and the Price List and that he indicates it by the consent in the appropriate manner to the Company,
  4. the client fills in all data required in the Framework Contract,
  5. documents verifying the client’s identity will be delivered to the Company.
  6. Correspondence to the conclusion of a Framework Contract is maintained if a scan of the signed contract in the .pdf and other required documents is delivered to the e-mail address.
  7. The electronic way is maintained if the Framework Contract is signed by electronic means according to the valid legal regulations, ie by a secured electronic signature, or the Framework Contract is delivered by e-mail, from which it is possible to determine unequivocally the identification of the acting person (the e-mail is, for example, provided with the name and surname of the client).
  8. If the technical equipment of the Company allows it when signing the Framework Contract the client’s signature on the Framework Contract can also be personally replaced by electronic means (electronic pencil, biometric elements).
  9. In connection with the conclusion of the Framework Contract, the client identification is performed under applicable legal regulations. The Client is obliged to provide the necessary cooperation to the Company and to submit documents for identification.


IV. Provision of payment services

  1. The Company shall open a payment account for the Client (hereinafter „Account“) after the conclusion of the Framework Contract. The Account serves as a record of the payment funds entrusted to the Company in connection with record keeping of payment transaction provided by the Company for the Client under the Contract and orders for the execution of payment transactions. The company also provides payment services without the use of the Account.
  2. The Company provides payment services consisting of the execution of non-cash payment transactions with possible currency conversion. When providing payment services, the Company proceeds according to the Client’s instructions and under the conditions agreed in the Framework Contract and according to the orders for the execution of payment transactions.
  3. Orders for the execution of payment transactions will be entered by clients via the internet interface, each such order will be entered and processed by an employee of the Company. The relevant employee handles transactions according to the client’s instructions. The settlement of transactions will be checked by the relevant employee of the Company.
  4. Procedure for arranging a currency conversion transaction:
  5. the client indicates the parameters of the transaction via the internet interface,
  6. an employee of the Company shall verify the legal requirements of the transaction,
  7. in the case of using a payment service with an Account, the employee shall verify the sufficiency of financial means on this Account,
  8. in the case of using a payment service without an Account, the client sends the funds to the Company’s account according to the employee’s instructions,
  9. the employee processes this transaction.
  10. The Company is not responsible for cases where the method of negotiating a trade or transaction described in this provision cannot be used for reasons beyond the Company’s control.
  11. The Contracting Parties agree that the Company is not entitled to dispose of funds deposited by the Client under this Contract other than in a manner leading to the implementation of payment services pursuant to the Contract.
  12. The Contracting Parties undertake to provide each other with the maximum possible cooperation and to fulfill their obligations without undue delay so that each payment transaction is settled properly and on time.
  13. In the event of non-execution of a payment transaction for any reason, the Company is obliged to inform the client of this fact and settle with the client the liabilities already incurred from this non-executed payment transaction.
  14. The Company is entitled to remuneration from the Client for the provision of payment services. The price for account maintenance as well as the prices for individual payment transactions are listed in the Price List, which is an appendix to the Framework Contract.


V. Settlement period, the information obligation

  1. Transaction will be settled without undue delay after receiving pecuniary means defined for a payment transaction from the client to a separate bank account of the Company or client’s bank account. The client undertakes to pay the entire liability from a transaction within the next working day at the latest (D+1) after a transaction is agreed. If the client does not meet this liability, the Company is entitled to withdraw from the transaction and eventually invoice the client the incurred loss. After the client pays his liability from a payment transaction towards the Company, the Company is obligated to enter a payment order to make the required transaction without undue delay so that it is made within periods set by PSA whereas the maximum is D+1. This period can be prolonged because the client if he does not have sufficient coverage at his bank account to make the entered order or if the client did not announce to the Company all necessary parameters of his payment order.
  2. The Company meets an information obligation arising from provisions of PSA towards clients via email messages sent to clients to their email addresses on the file of the Company. Information is sent within the end of the next working day after settlement of a transaction at the latest.
  3. The client is obligated to notify the Company of information about the alienation of access authorizations (profile) enabling payment transactions via the Company or about possible unauthorized transactions immediately after such finding. It is possible to announce information on phone number +420 773 633 303; in case it is announced during working hours, it is possible to also use the email address . The Client is fully responsible for their possible misuse, until the moment he reports to the Company their loss, theft, or unauthorized use by third parties. After the Company receives the information, the profile will be blocked. Since the Company has been reported as a loss, theft, or unauthorized use of access rights the Company is liable for the misuse.
  4. The payer is liable for the loss arising from non-authorized payment transactions up to the amount of 50 EUR if such loss was caused by the use of a lost or stolen payment instrument. The payer is liable for the loss arising from a non-authorized payment transaction in full if he caused this loss by his fraudulent conduct or by intentionally or through gross negligence violating any of his obligations specified in § 165 of the PSA. The provisions of the preceding sentences shall not apply if the payer did not act fraudulently and the loss arose after the payer reported the loss, theft or misuse of the payment instrument or the provider did not ensure that the user had the appropriate means to report the loss, theft, misuse, or unauthorized use of the payment instrument.
  5. Furthermore, the Client is obliged to immediately notify the Company of incorrectly executed payment transactions in the manner specified in paragraph 3 of this Article.
  6. The Company informs the client in case of suspected unauthorized or fraudulent use of the means of payment through e-mail communication or by publishing the information on the website.
  7. In the event of incorrect execution of the client’s payment order through the fault of the Company, the Company is obliged to restore the status of the client’s payment account to the state before the error occurred.
  8. Protection of pecuniary means entrusted to the Company. Pecuniary means, which are entrusted to the Company for a payment transaction, are kept separately from own pecuniary means of the Company and pecuniary means of other persons, except for pecuniary means of clients. Pecuniary means of clients are kept on separate bank accounts of the Czech banks. Pecuniary means of clients are not part of the assets of a bankrupt payment institution. If a decision on the bankruptcy of a payment institution was given, a special insolvency administrator is obligated to provide clients with pecuniary means which were entrusted to a payment institution for purpose of a payment transaction.
  9. Protection of client’s property in case of bankruptcy of a bank managing a separate bank account of a payment institution. Pecuniary means of clients registered on a separate bank account of the Company are a receivable from the deposit with a special regime, according to § 41f, Act no. 21/1992 Coll., on Banks. The Company met its legal duty according to § 41f, section 2, Act on Banks, and notified banks, where its separate bank accounts are conducted, in writing of the fact that separate bank accounts contain pecuniary means representing a receivable of more persons. In case of bank bankruptcy, compensation of receivable from deposit with a special regime is provided to clients of the Company in the same amount in which it would be provided if each client had pecuniary means on his bank account. In case of bankruptcy of a bank, where a separate bank account of a payment institution is conducted, each client of the Company receives a financial settlement from the Deposit Insurance Fund in the number of financial means registered on a separate bank account, the maximum is, however, the amount of EUR 100.000.
  10. Correcting settlement: the Company restores the debited payment account to the state in which it would have been had the defective payment transaction not taken place. The complaint may be filed within three months of the occurrence of the error.


VI. Claims and complaints

  1. In case that the client is convinced that the Company did not meet properly its liabilities arising from the Contract, he is entitled to lodge a claim/complaint at the Company. The client is obligated to lodge a claim/complaint before he takes any other measures in terms of services that are subjects of a claim/complaint. A claim/complaint must be in writing and include the client’s signature and identification data, at least his name, surname, permanent address and contact address as regards physical entities, and name, ID-No., registered office, contact address and name and surname of persons authorized to act on behalf of the company as regards corporate entities. To settle a claim properly and on time, it has to be clear what its subject is (e.g. type and a number of a transaction, an act of a particular employee, etc.). The client delivers a claim/complaint to the Company without undue delay in writing to the address of the Company or the email address At the request, the Company issues a confirmation of takeover of a claim/complaint for the client.
  2. Claims/complaints are settled by managers of departments of the Company, who are affected by the claim/complaint. The client is obligated to provide the Company with the necessary cooperation when settling the claim. The Company is obligated to settle the client’s claim/complaint within 15 working days after its delivery. If an obstacle independent of will of the Company obstructs dealing with claim/complaint within 15 working days, The Company is obliged to inform the Client about the obstacle and settles a claim/complaint within 35 working days. The Company is obliged to send the client a written statement of the way of settlement during this period. The Company keeps a list of claims/complaints, which is managed by the relevant employee. The relevant employee is responsible for coordinating the handling of claims/complaints and, together with the managing director, controls the manner of their handling.
  3. The Client has a possibility to appeal with his complaint regarding the manner of providing services to the Company’s supervisory authority, the Czech National Bank, with its registered office at Na Příkopě 28, Prague 1.
  4. The client has a possibility to appeal with his complaint of the way of providing payment services to a financial arbiter, registered office in Legerova 1581/69, 110 00 Praha 1, financial arbiter is entitled to an extrajudicial settlement of arguments of the contracting parties, related to payment services.


VII. General and Final Provisions

  1. The Company is entitled to reject providing of a particular service, mainly making a deal, if the contracting parties don’t agree upon all terms of its providing or if the client doesn’t provide the Company properly and on time with all information and documents necessary for proper providing of a service or if it is stipulated by legislation.
  2. The Company is not obligated to accept a document if the Company doubts about its originality, completeness or accuracy and considers it as necessary for proper providing of a required service and, in such a case the Company is entitled to ask the client to provide further information and documents which the Company considers as necessary to prove originality, completeness, or accuracy of the information or document in question.
  3. The Company is entitled to require verification of the client’s signature on all contractual documents or documents for transactions.
  4. The Company shall make only such transactions and realize such client’s requests which are complete, correct, definite, understandable, and made in compliance with terms set by the Contract, GBT, and PSA.
  5. The client is not entitled to assign, pledge, or otherwise encumber receivables from the Company without the prior written consent of the Company.
  6. Failure to exercise any right arising from this contract or transaction or delay in exercising such right by either party shall not be construed as a waiver of such right.
  7. The Company is entitled to request the provision of adequate security or security of its receivables from the client, even during the provision of the service, failure to provide such security or additional security, is a material breach of contract by the client and the Company has the right to terminate providing of any service, mainly to withdraw from a transaction or the Contract.
  8. All communication between the Company and the client is in the Czech language or if agreed with the Company, in the English language.
  9. The Client acknowledges and agrees to the rights and obligations of our partner Wallester as stated in the “Wallester Terms and Conditions“.
  10. The Company is entitled to withhold taxes from payments made based on the contract, according to valid legislation. If the client is affected by contracts for the abolition of double taxation, the client is obligated to notify the Company of this fact when agreeing upon a transaction.
  11. Persons who were authorized by the client in the Contract are entitled to make transactions, use other services set by the contract on the client’s behalf and at his expense and within the scope and in the way mentioned in the Contract. These persons are entitled to act individually if not agreed otherwise. These persons are not entitled to change, complete, or cancel the contract if they are not entitled to it based on the special power of attorney granted by the client.
  12. If the client does not claim any data mentioned in documents of the Company without undue delay after their receipt, it is considered that the client agrees with all data mentioned in the documents.
  13. Cancellation of a transaction or payment order at the client’s instance has to be handed over to the Company personally or sent in writing per email to the address Cancellation cannot be made after a phone agreement upon a transaction.
  14. The payer’s request for a possible refund of the amount of an authorized payment transaction at the initiative of the payee is governed by § 176 ZPS.
  15. Unless expressly stated otherwise in the contract or agreed between the contracting parties, the provision of the service may be arranged or the service may be provided, especially trade, exclusively on working days from 8:30 to 16:30 hours valid in the Czech Republic. The moment close to the end of working hours is 16:15.
  16. The Client is entitled to obtain from the Company, base on a written (email) request, the content of the Contract, and other information specified in the ZPS. Upon receipt of the application, the Company will send a copy of the Contract, the GBT, and the Price list, or other information requested by the client to the client’s email address without undue delay.
  17. In the event of a market failure or other event countable as force majeure affecting the performance of the contract or a transaction already made, and therefore it is not possible to meet the terms of the transaction, the parties are obliged to agree in good faith either to terminate the transaction and return of eventual performance affected by a market failure or event countable as force majeure or to agree to continue such trading under conditions possible after the removal of obstacles to force majeure or market failure.
  18. The Company is entitled to unilaterally change the GBT, especially in connection with changes in legislation, the introduction of new services, change in the method of providing services etc. In such a case, the Company will notify the Client of the change in the GBT, which will contain the text of the new GBT, and at the same time on the Company’s website, at least 2 months in advance before it takes effect. Error correction is not considered a change. The client undertakes to acquaint himself with the new wording of the GBT. If the client does not notify the Company in writing of his disagreement with the proposed changes to the GBT no later than the day before the proposed change takes effect, then the changes so notified shall be binding on the client from the date of publication on the website. If the Client rejects the company’s proposal to amend the Contract, he has the right to terminate the Contract free of charge and with immediate effect before the day on which the GBT is to take effect.
  19. The GBT was approved by the statutory body of the Company. This GBT are valid and effective for existing clients from 1.1.2021 until further notice and replace all previous GBT, for new clients they are effective from the date of handover.