Terms and conditions

1. Legal Entity

Kimbo Corporate Pte. Ltd. uses the name of “kimbocorp" on the web site https://kimbocorp.com and https://kimbocorp.io. These names refer to the company kimbocorp Pte. Ltd., incorporated in Singapore with company registration number 201316594C.

2. Acceptance of Terms and Conditions

By placing an order with Kimbo Corporate Pte. Ltd. (kimbocorp), the User confirms that he/she has read and accepted the Terms and Conditions as stipulated in this text. Unless explicitly specified, these Terms and Conditions apply to all orders regardless of whether these are buy orders, sell orders, scrap orders, storage orders and regardless of whether the orders are placed through the website, in person, by telephone, by e-mail or otherwise. Unless explicitly specified, these Terms and Conditions also apply to all orders regardless of which location or jurisdiction products or services are offered. By placing an order with kimbocorp, the User agrees to the Terms and Conditions stipulated in this text.

3. Variation

kimbocorp may amend or vary these Terms and Conditions at any time by posting a revised version on its website. The revised version will be effective upon posting. If the revised version includes a substantial change, the User will be notified with 7 days prior notice using the e-mail on the User's kimbocorp account.

4. Interpretations

In these Terms and Conditions:

“Agreement” means the binding agreement entered into when a User places an Order with kimbocorp that a User enters into.

“Primary member“ refers to the person who is the main shareholder or director of a company created with kimbocorp and/or for which will be liable to pay corporate taxes, service fees, maintenance fees or any such fees to keep a company managed by kimbocorp.

“Paid service” refers to any paid plan or service which the primary member has paid for, including procurement of a company plan and one-off services. We would have discussed or communicated with you on any of our websites and digital platforms, or through meetings and/or through our other correspondences with you how our professional fees will be charged, and this will be set out from time to time to be communicated via means of communication to you.

“Advisory service” refers to provision of a company which the primary member or his/her associates would own, incorporated in an advanced economy like Singapore, generally including compliance and governance functions, such as appointment of corporate secretary and resident directors. The overall compliance management of this company would typically be covered under such a paid company plan. The rates for such a company plan would have been discussed or communicated with you, via any of kimbocorp's website or digital platforms, or through other correspondences and meetings, and these would be set out from time to time and be communicated to you.

“kimbocorp” means Kimbo Corporate Pte Ltd.

“kimbocorp Account” or “kimbocorp account” means an account maintained by kimbocorp on behalf of a User for transacting, holding and storing Products, Services and kimbocorp Account Balances.

“kimbocorp Account Balance” is a User’s pre-payment of money to kimbocorp for their purchase of Products and Services.

“Cryptocurrencies” mean digital currencies in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank such as e.g. but not limited to Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

“User” means a person that registers any account on any of kimbocorp’s Website, or transacts with kimbocorp on any Product or Service.

“Customer Due Diligence” or “CDD” both mean a due diligence enquiry on a User to obtain Know-Your-Customer information for the purpose of compliance with any regulatory regime or policy of kimbocorp which will include requests for information and documents relating to the User’’s identity and finances such as the User’s identification documents, income, source of wealth, and source of funds.

“GST” means the tax which is charged on the supply of goods and services and on the importation of goods in accordance with the GST Act.

"GST Act” means the Goods and Services Tax Act 1993.

“Item” or “items” means any an offer of a deposit of capital or paid-up capital, purchase of a service or product, or subscription to a plan, communicated to a User, either online, in person, via phone, via email or via any other method of communication that has been initiated by kimbocorp.

“Order” or “orders” means a deposit of capital or paid-up capital, purchase of a service or product, or subscription to a plan, placed by a User, either online, in person, via phone, via email or via any other method of communication that has been accepted by kimbocorp.

“Paid-up capital” refers to the amount of capital that will be deposited into a company account, in return for the company providing ownership to the person paying the capital. KIMBOCORP RESERVES THE RIGHT TO COLLECT PAID-UP CAPITAL FOR ANY COMPANY MANAGED BY KIMBOCORP

“Corporate income tax” refers to taxes payable to the Income tax department of Singapore or any country for which the company is a tax resident of. KIMBOCORP RESERVES THE RIGHT TO COLLECT CORPORATE TAXES PAYABLE FOR ANY COMPANY MANAGED BY KIMBOCORP

“NETS payment” means a payment made using the Singapore based Network for Electronic Transfers (NETS).

“Service”, “Product” or “Plan” means any item provided, sold, offered or carried by kimbocorp, whether on a Website or in a physical meeting, in or at whatever location or jurisdiction.

“Terms and Conditions” means the terms and conditions stipulated in this text as updated from time to time.

“Website”, “website” or ”web site” means any website or mobile app owned and registered by Kimbo Corporate Pte Ltd, including, but not limited to, www.kimbocorp.com and www.kimbocorp.io, and mobile apps on google playstore and apple appstore.

References to “includes,” “including,” “including but not limited to,” “including without limitation” and words or phrases of similar import shall be deemed to have the same meaning as the words “include(s)” and “including” and shall not be deemed to be terms of limitation but rather be deemed to be followed by the words “without limitation.” References to “such as” shall also not be deemed to be a term of limitation but rather also be deemed to be followed by the words “without limitation.”

Where the context so admits, words importing the singular number include the plural and vice versa and words importing gender include the masculine, feminine and neuter genders.

Save where the context otherwise requires, a reference to a person includes a reference to an individual, a firm, a body corporate and an unincorporated association. A reference to a person also includes a reference to the person’s permitted heirs, trustees, personal representatives, executors, administrators, directors, officers, employees, agents, partners, members, successors and assigns.

5. Terms and Conditions when a User is buying from kimbocorp

kimbocorp reserves the right to cancel, refuse or reject any Order for any reason whatsoever, including cases where:

(a) Payment for any current or previous Order of the User has not been made, or received by kimbocorp, in accordance with these Terms and Conditions.

(b) Extraordinary situations arise.

(c) Price, stock, delivery time or availability has been published erroneously due to computer-related problems or due to human factors.

(d) Deliveries and/or Approval from kimbocorp's stakeholders, including government agencies, have been delayed or canceled.

(e) The price or other information has been published erroneously.

(f) The order is deemed questionable, suspicious, abusive or of significant risk to kimbocorp.

Where kimbocorp deems it necessary to conduct a Customer Due Diligence (CDD) for a transaction: (a) the transaction is conditional upon kimbocorp completing the CDD to its satisfaction; (b) the User must provide all relevant information as requested by kimbocorp; (c) where the User fails to provide the requested information in a timely manner, kimbocorp shall have the right to discontinue the transaction whereupon the User warrants to immediately pay kimbocorp an administrative fee of SGD 200; and (d) where kimbocorp finds itself unable or unwilling to complete the transaction upon the completion of a CDD, the transaction will be deemed as never entered into and any payment made by the User will be returned to the User in accordance with this Agreement.

When purchasing from kimbocorp’s location in Singapore, www.kimbocorp.com or www.kimbocorp.io, some plans and services are exempted from GST in Singapore while others may include GST. In the event that kimbocorp offers items that are not exempted from GST, the price listed on the website will include GST.

6. Strictly No Refunds

kimbocorp operates under a strict No Refunds policy for any plan, service, or product that Kimbocorp has agreed to fulfill. Once kimbocorp has commenced the process of delivering the agreed service, refunds will not be provided under any circumstances, including but not limited to the following situations:

6.1 User Non-Conformance or Unwillingness: If the user fails to comply with requirements, refuses to provide necessary information, or is otherwise unwilling to proceed with the process.

6.2 Third-Party Rejections: If banks, financial institutions, or other third-party service providers decline to support the user’s business or associated activities for reasons beyond kimbocorp's control.

6.3 External Regulatory or Operational Barriers: If regulatory authorities, local jurisdictions, or unforeseen operational issues impede the service or product delivery.

kimbocorp is not responsible or liable for delays, rejections, or incomplete processes arising from circumstances beyond its reasonable control. Users are advised to ensure compliance with all requirements and conditions to facilitate smooth execution of services.

7. Location

kimbocorp may offer products, plans or services for sale in multiple countries. These Terms and Conditions apply to all orders regardless of which location or jurisdiction products or services are offered. kimbocorp does not have any permanent establishment in any country other than Singapore. The User agrees that kimbocorp may use an agent to fulfill order handling and administrative services as required in jurisdictions other than Singapore. The User's contractual counterparty is however always Kimbo Corporate Pte. Ltd.

The User is free to select the desired Website for viewing and ordering Items by clicking on the dropdown box to the right of 'Jurisdiction' (mobile: 'change Jurisdiction'). The User acknowledges that Products, Plans or Services ordered from any particular Website will be delivered from the jurisdiction that User has chosen.

8. Price for User Orders

Unless otherwise stipulated, the price for an item/items ordered by a User is locked in at the time an order is placed, specifically, at the time the User confirms the purchase by clicking "Confirm", “Place Your Order”, “Pay with card”, “Get transfer instructions”, “Pay with crypto” or similarly in the online checkout or when the User instructs an kimbocorp representative to place an order in the shop, via phone, e-mail or any other means of communication. When an order has been confirmed by the User in the checkout on the website, or via any other means of communication, an order confirmation is sent by e-mail. The formal invoice is sent to the User via e-mail when the Userr’s full payment has been registered by kimbocorp.

kimbocorp reserves the full unconditional right to determine the price to which kimbocorp offers to buy and sell products. kimbocorp reserves the right to charge different prices for products, plans and services depending on what payment method the User chooses. User orders for products, plans and services are binding. By placing an order, the User enters into a binding agreement as stipulated in these Terms and Conditions. All orders regardless of availability status, i.e. whether the items ordered are available or not, are binding and final.

9. Order Payment

In this section:

“Cost” means any cost, fee, expense, penalty, duty or charge including those for any reminder, collection, legal service, court application or court proceeding.

“Remaining balance” means the remaining balance of a product, service or plan, from the time of the order to the time as mentioned in the item description

“Price Loss” means the decrease in the price of an item in an order from the time of the order to the time when the order is aborted.

The payment for an order must be sent (initiated) within one banking day from the order placement for all payment methods except for online Credit/Debit card payments where the payment must be made within 24 hours and except for cryptocurrencies where the payment must be sent (initiated) within 20 minutes. If an order is placed during a non-banking day, the payment must be initiated the next banking day. In the case of a bank transfer, the order number, which is obtained when placing the order, should if possible be marked in the message field of the bank transfer form used for transmitting payment to the recipient/beneficiary, Kimbo Corporate Pte Ltd.

The funds must reach kimbocorp within four (4) banking days of placing the order. kimbocorp reserves the right to demand payment sooner than the above-mentioned time frame. In such a case, the User will be contacted after placing the order. The User bears any fee, charge or cost which the User’s bank or payment service provider may impose.

If the payment for an order is not initiated or completed within the stipulated timeframe, kimbocorp will have the right to abort the order on behalf of the User whereupon the User must immediately pay kimbocorp the Administrative Fee, any Costs incurred by kimbocorp for processing the aborted order, and, any Price Loss for the products ordered. The invoice for an aborted order, if not fully paid, may be handed over to a collection agency or to a court for collection. If the User has any unsettled invoice such as for items or Administrative Fees or Costs or Price Losses, any fund held by kimbocorp in the User’s favour will be allocated towards the settlement of such an invoice first starting with the earliest outstanding debt. As all orders are binding without exception, kimbocorp reserves the right to apply any and all funds held in favour of the User towards the payment for any of the User’s orders regardless of whether such orders have been aborted, or towards any outstanding Administrative Fee, Cost or Price Loss owing to the User’s order. If an order has been partially paid, kimbocorp will remind the User to settle the outstanding amount and when full payment has not been received within twenty-eight (28) days of the order placement, or unless otherwise agreed with the User, the terms and conditions of this paragraph, as well as the terms under Clause 11, applies equally as if payment has not been initiated or completed within the stipulated timeframe.

The User acknowledges that the User bears the full responsibility to send funds, including cryptocurrency funds, to the correct account number or cryptocurrency address as designated by kimbocorp on the order confirmation. For Bitcoin Cash, the User acknowledges that kimbocorp only accepts and sends coins from the Node chain and does not accept or send coins from the Bitcoin ABC chain or Bitcoin Cash SV chain.

The User acknowledges that kimbocorp reserves the right to return the funds, if possible, and/or terminate the order if there are doubts over the owner, identity or origins of the funds. kimbocorp reserves the right to conduct User Due Diligence (CDD) or Enhanced User Due Diligence (ECDD) on the User in accordance with the regulatory regime of Singapore. The CDD or ECDD may include requests for information verifying the User's identity by obtaining information about NRIC number, passport number, occupation, nationality, address, date of birth and contact number. The User may be required to show proof of identifying information which kimbocorp may copy. The CDD or ECDD may also include requests for information to establish the beneficial owner of funds or holding companies, questions and verification about income level, source of wealth and source of funds and whether the User is indeed the entity or representative of the entity behind the purchase. Where kimbocorp has not received adequate information for the conduct of CDD or ECDD as the case may be, or deems that it is unable to complete CDD or ECDD satisfactorily with the information made available to kimbocorp, kimbocorp reserves the right to cancel the order, place the order on hold, or terminate any and all transactions with the User whereupon the User shall release kimbocorp from all liabilities flowing from any consequential refusal to, delay in, or cancellation of transaction with the User. kimbocorp will not be responsible for any losses due to insufficient/unclear transaction or identification details provided by the User.

The User acknowledges that any unclaimed funds of unknown origin accrue to kimbocorp following a period of six years from the funds received by kimbocorp.

9.1 Bank Transfer/Crypto/Card Payment

For orders placed with kimbocorp, Singapore is the default location, the User may place an order online for cash, crypto or card payment as payment method. In the case where Users want to settle in-person, the User must strictly make an appointment with kimbocorp to meet at 151 Chin Swee Road, Manhattan house 02-24, Singapore 169876. No walk-ins are accepted.

kimbocorp reserves the right to conduct CDD or ECDD on a User paying cash generally and specifically in a case where the amount is above SGD 20,000 or equivalent in foreign currency. The CDD or ECDD may include requests for information verifying the User's identity by obtaining information about NRIC number, passport number, occupation, nationality, address, date of birth and contact number. The User may be required to show proof of identifying information which kimbocorp may copy. The CDD or ECDD may also include requests for information to establish the beneficial owner of funds or holding companies, questions and verification about income level, source of wealth and source of funds and whether the User is indeed the entity or representative of the entity behind the purchase. If no supporting information is provided, kimbocorp reserves the right to cancel the order or place the order on hold. If kimbocorp is unable to obtain the User's identifying information, after requesting for it, the User understands that regulations may prohibit kimbocorp from completing the transaction and that kimbocorp may have to terminate any other transaction entered into with the User.

kimbocorp reserves the right to change the payment method. kimbocorp will in such a case notify the User and may give the User a grace period to be able to transfer or deposit the funds to any of kimbocorp's bank accounts.

If any fund will be returned to the User’s credit card for any reason including the termination, cancellation, or modification of an order, kimbocorp will return such funds to the credit card in the same currency in which the fund was originally paid. The User acknowledges that the User shall be responsible for and agrees to bear all loss that may result from currency conversion or any fee, charge or cost which the User’s bank or payment service provider may impose.

9.2 Cryptocurrency Payments

Where a User makes a payment to kimbocorp in cryptocurrency for an order or commits to receiving payment from kimbocorp in cryptocurrency, the User hereby gives consent to kimbocorp to hedge the transaction on a best-effort basis (referred to as "Leg 1”). In the event that any part of the cryptocurrency or fiat amount needs to be returned due to the termination, cancellation, or modification of an order, or for any other reason, kimbocorp retains the right to unwind the hedged cryptocurrency or fiat amount from Leg 1 on a best-effort basis (referred to as “Leg 2”). The User acknowledges and agrees to bear any loss that may result from a price fluctuation between Leg 1 and Leg 2.

10. kimbocorp Account Balances

A User may place prepayments in various currency denominations on their kimbocorp account. These are reflected as kimbocorp Account Balances on the User’s kimbocorp account. The User can fund/top up their account to subsequently purchase Products and Services or withdraw such funds at any time. The User can keep their kimbocorp Account Balances indefinitely on their kimbocorp account but can only use them with kimbocorp to pay for kimbocorp’s Products and Services. kimbocorp does not charge any account maintenance fee. A User can request a partial or full withdrawal of funds from his/her kimbocorp Account Balance at any time via the kimbocorp website. kimbocorp does not charge any fee for receiving or sending funds, but the User will bear all bank charges for receiving and sending funds. kimbocorp Account Balances do not earn interest. kimbocorp Account Balances cannot be used to pay any third party and cannot be transferred between kimbocorp accounts.

10.1 Funding an kimbocorp Account

To fund a kimbocorp account, a User should first notify kimbocorp of the User’s intention to fund the account. This can be done by sending a notification through kimbocorp’s webapp or mobile app and sending a notification to kimbocorp admin via livechat, or by specifying the funding amount in the “Fund account” field in a user account. Fund notifications are not binding and will expire if the funds are not received by kimbocorp within 7 days of the notification.

Funds on a kimbocorp account can be held in the following currencies: Singapore Dollars and US Dollars. Funds in one currency on a User’s kimbocorp account cannot be transferred to another currency on that User’s kimbocorp account and cannot be transferred to another User or third party.

A User can fund an account using the following methods:

• Singapore Dollar: PayNow, domestic or international bank transfer
• US Dollar: International bank transfer

Funds will be kept on a User’s kimbocorp account until the User places an order settled by using the funds on account or until the User withdraws the funds. The minimum funding amount for a kimbocorp account is SGD/USD 100 per transaction. At the time of purchasing items from kimbocorp, Users can choose whether to use funds on their kimbocorp account or settle the order via any of the other payment methods available.

Should a User wants to use balances “kimbocorp account” as the payment method, the Usercan notify kimbocorp admin under the “messages” section of kimbocorp’s webapp or mobile app, and the purchase costs will immediately be withdrawn from the User’s kimbocorp account provided that there is sufficient credit balance in the account to fund that purchase. A User selling products to kimbocorp may elect to have the proceeds of a sell order credited to the User’s kimbocorp account for use towards future purchases of products, plans and services from kimbocorp, or for later withdrawal. Sales proceeds for items sold to kimbocorp will normally be credited to a User’s kimbocorp account within one banking day from the later of a) kimbocorp taking possession of the said items sold, or b) the User placing the sell order. In all cases, Users are required to provide the requisite User and bank information to kimbocorp in advance of any sales. In rare cases, the crediting of funds may take up to six banking days.

10.2 Withdrawing Funds from an kimbocorp Account

A User may withdraw funds from the User’s kimbocorp account at any time. A User withdrawal request is typically processed within one banking day provided the User has supplied kimbocorp with the necessary requested User and bank information. In rare cases, withdrawals may take up to six banking days or be further delayed if placed on hold for verification purposes or due to suspicions or abnormal account activity.

kimbocorp does not charge any fee for withdrawals although the Userbears any loss that may result from currency conversion or any fee, charge or cost which the User’s bank or payment service provider may impose. There is no maximum or minimum withdrawal limit.

A User can withdraw funds from the User’s kimbocorp account in the following ways:

• Singapore Dollar: PayNow, domestic or international bank transfer
• US Dollar: International bank transfer

​10.3 Miscellaneous Provisions Relating to the kimbocorp Account

If a User has an outstanding order, obligation or liability to kimbocorp, kimbocorp may use the funds on that User’s kimbocorp account, regardless of currency, to settle the outstanding order or invoice when the amount is overdue. Holding a negative balance on a kimbocorp account is prohibited. Where a User has multiple currency balances and a negative balance arises on one currency balance as a consequence of an order being amended, the User agrees that kimbocorp shall have the right to offset a negative balance in one currency by using funds maintained by the User in another currency. kimbocorp may also offset the negative balance with any funds subsequently added to that User’s account.

A User may only open one kimbocorp user account. In providing User information online or via any other means of communications, a User must provide true and correct User information to kimbocorp. For security reasons, transactions involving kimbocorp Account Balances can only be carried out by the User being logged in to the User account and not via telephone, e-mail or any other way of communication. The User acknowledges that any such transaction must be initiated from the User’s account.

A User who maintains a kimbocorp Account Balance must keep his information on the account updated. A User may be requested to further enter a PIN code, in addition to a password, both of which are required on the kimbocorp webapp and mobile app, every time the User initiates a transaction related to that kimbocorp account. A User can update the User’s account information anytime by logging into the kimbocorp webapp or mobile app. When placing orders with kimbocorp and/or utilizing an kimbocorp Account Balance, the User authorizes kimbocorp to make inquiries in regards to establishing User knowledge and/or to validate that User’s identity. This may include but not be limited to asking a User for a copy of the User’s identification, a copy of a utility bill, asking about the User’s occupation, background or purpose of transaction and source of funds. In cases where kimbocorp has requested such due diligence information but is unable to complete the verification process of the due diligence measures, kimbocorp shall not commence or continue the business relationship with the User. In case kimbocorp is unable to complete the verification process due to the User being unresponsive or the User refusing to provide any document or information requested by kimbocorp and kimbocorp will debit an administration fee of SGD 200. In the case of kimbocorp closing an kimbocorp account due to, for example, but not limited to, the User being unresponsive or refusing to send in requested documents and/or reply to the questions asked by kimbocorp or the User does not settle outstanding invoices despite repeated e-mail and mail reminders or the User abusing kimbocorp's system and kimbocorp cannot via phone, e-mail or mail reach the User, any assets or funds on the User's kimbocorp account will accrue to kimbocorp following a period of five years.

kimbocorp reserves the right to debit a fee of SGD 500 or SGD 100 per hour, whichever is higher, to reply to duly authorised requests for information, such as, but not limited to, court proceedings, divorce proceedings and bankruptcy proceedings.

11. Default of an advisory service specific to provision of a paid company plan

A default situation in relation to your advisory service and the provision of a paid company plan occurs if any of the following conditions are met, whichever occurs first:

Non-Payment: The primary member fails to send payment via the agreed payment method within one (1) month of the Billing Date of the paid company plan.

Non-Responsiveness: The primary member does not respond to three (3) payment requests sent via email, private message, mobile communication, live chat, or any other communication method on file specific to the paid company plan.

11.1 Consequences of Default

If any of the default conditions above are activated, the primary member is deemed to be in a default situation, under which the following actions may be undertaken by kimbocorp:

Company Striking Off or Winding Down: kimbocorp reserves the right to apply for the striking off or winding down of the company managed by kimbocorp.

Director Removal and Corporate Registrar Action: The primary member’s directorship may be removed via resignation, and the company may be struck off the corporate registrar.

Legal Capacity as Filing Agent: All such actions are executed under kimbocorp’s legal capacity as a registered filing agent of the company.

11.2 Revival of Company After Default Notice

The primary member may contact Kimbocorp within three (3) months after a default notice is sent to request the revival of the company. However, kimbocorp reserves the right to charge administration fees for processing and managing the revival request. The fees will depend on the complexity and scope of the work required to reinstate the company.

11.3 Indemnification Clause

kimbocorp, including its employees, agents, associates, and stakeholders, shall be fully indemnified against any and all financial losses, damages, claims, or liabilities incurred by the primary member, their employees, agents, associates, or stakeholders arising from actions taken under this default situation.

This clause ensures that kimbocorp is protected against any repercussions resulting from the default actions, as outlined above.

12. Authorization for kimbocorp to Act as Agent

The User authorizes kimbocorp’s employees, contractors, associates and consultants as a fiduciary, limited in scope, to arrange for the incorporation and statutory compliance of User’s holding companies, as deemed necessary in the situation. kimbocorp may sub-contract the incorporation and compliance of holding companies to other corporate service providers.

The User acknowledges and agrees that kimbocorp may act on behalf of the User’s holding companies for the creation of financial accounts, including banking, payment gateways, crypto accounts, as well as liaising with government authorities such as Income tax authority of Singapore (IRAS) and Monetary authority of Singapore (MAS).

kimbocorp reserves the right to publish names of holding companies created with kimbocorp on its websites. kimbocorp furthermore reserves the right to supply independent third party auditors with User particulars, for the purpose of creating financial accounts or liaising with government authorities.

13. Opening an Account

The User must open an account online to create, consult or invest in holding companies, or to maintain an account balance with kimbocorp. To open an account, the User must enter the User’s correct User information including an address and choose a password. At the time of placing the first order or transaction, the User must also select a PIN code consisting of a minimum of 4 digits. The User will have to re-enter the PIN code for certain subsequent transactions impacting a User’s kimbocorp Account Balance.

When the User has opened an account, the User will receive a confirmation sent to the User’s registered e-mail address. The User will also receive e-mail confirmations of User-initiated changes to the accounts, such as adding share capital, as well as e-mail notifications about funding and withdrawal activities on their kimbocorp Account Balances. The User shall notify kimbocorp immediately in the event the User finds any discrepancies on the User’s account or on any e-mail notifications, e-mail updates, e-mail statements, in any SMS text messages or in any other communication sent to the User’s registered e-mail address, registered mobile phone number or registered address.

To prevent abuse, each User is only allowed to create one user account with kimbocorp. Notwithstanding, each User is allowed to create multiple businesses with kimbocorp and advise any associated business. Any user found to have abused the system or holding multiple user accounts may be blacklisted and barred from future transactions with kimbocorp. kimbocorp reserves the right to retract the free Balance credited to the User account if the User is found to have abused the system. kimbocorp furthermore reserves the right to merge accounts if the User has opened multiple user accounts.

14. Account Suspension and Termination

kimbocorp reserves the right to suspend or terminate an kimbocorp account for any reason, including but not limited to events where:

(a) Orders have been placed from the account but where payment has not been initiated at all or has not reached kimbocorp within the time frames given by these Terms and Conditions

(b) The User has abused kimbocorp's system by e.g. but not limited to: opened several accounts and placed an excessive amount of small orders within a short time period leading to unreasonable administrative burden.

(c) The User has not responded to, been unwilling to respond, acted suspiciously or responded unsatisfactorily to a Know-Your-Customer, Due Diligence or Periodic Review request.

(d) kimbocorp suspects that the User is using his/her kimbocorp account for illegal or disallowed purposes.

(e) kimbocorp suspects that the User has attempted or conducted fraudulent activities.

(f) The User has outstanding debts with kimbocorp remaining unpaid following more than six (6) months of the last payment date.

(g) There is an ongoing dispute between kimbocorp and the User or an ongoing dispute between joint account holders or signatories of the User.

(h) The User has requested for the account to be locked or closed.

(i) The User has threatened, abused, insulted, harassed or acted unlawfully against kimbocorp or any of its personnel.

Where a User's account will be terminated and there is no other agreement with the User on asset liquidation and fund withdrawal upon or after termination, balance held by the User will be liquidated within 1 business day of account termination at the prevailing rate; liquidation will be in the currency which kimbocorp deems most appropriate; and funds will be remitted to the User’s bank account as notified by the Useror held by kimbocorp without interest in the absence of such notice.

Ownership in incorporated holding companies held by the User will continue to exist despite an account being terminated. Ownership in un-incorporated holding companies held by the User may be transferred back to the Creator or other Shareholders.

15. Death

A family member of a deceased User should notify kimbocorp promptly of the User's demise and provide a copy of the death certificate as soon as practicable.

The family member(s) of the deceased User should obtain from a Singapore court either (1) a Grant of Probate (if the deceased User left a will), or (2) a Grant of Letters of Administration (if the deceased User did not leave a will) (“Grant”). If a Grant has been obtained overseas, the family member(s) may obtain a Resealing of Foreign Grant from a Singapore court. These are usually done with the help of a lawyer in Singapore. The personal representative appointed by the Grant must then provide us with a certified true copy of the (1) Grant (or Reseal of Foreign Grant) and (2) identification document of every appointed personal representative.

It is important that the User’s name and address on the kimbocorp account match the same information on the Grant. Therefore, the User should ensure that his/her kimbocorp account bears his/her full name and address according to his/her primary identification document.

For a trust account held in the name of a deceased trustee, the succeeding trustee should provide us with a copy of his/her identification document and documentary evidence that he/she has replaced the deceased trustee. The documentary evidence can be a copy of a recent statement of the existing bank account of the trust reflecting the same account number and the name of the succeeding trustee as trustee of the account.

Once we have verified the documents and information, the personal representative will be able to access the deceased User’s account. We reserve the right to debit an administration fee.

16. Privacy Policy

This website uses cookies and session cookies to facilitate activities for individual users. The information is used for identification purposes and to fill in data fields to facilitate the accessibility of services on this website. Cookies are also used for statistical purposes. Session cookies are only used for the duration you are logged in to store session information. The information collected is anonymous. If you do not wish to accept cookies, your browser can be set to deny cookies. This however would affect the functionality that you would experience when using this website.

kimbocorp protects its Users personal integrity and processes User information with full confidentiality. Following the EU-regulation on General Data Protection Regulation, effective 25 May 2018, kimbocorp would like to inform you how the company handles personal information. Through its e-commerce system, kimbocorp collects the personal information that its users have supplied the company with. The following information is collected: name, e-mail, telephone number, address, post code, city and country. In some instances, including but limited to when a User has funds on his or her account with kimbocorp, kimbocorp collects additional Know-Your-Customer information such as e.g., but not limited to, the User's nationality, a copy of the User's identification and a copy of the User's proof of address. The collected information is used to assist registered account holders and Users with information and service. kimbocorp also uses personal information for marketing in the form of newsletters and promotional offers via e-mail or mail. It is possible to unsubscribe from the newsletters and promotional offers via the unsubscribe link that all such e-mails contain. kimbocorp is keen to protect its Users’ confidentiality and does not share or sell any personal information with the exception of information that the company is required to disclose under law. kimbocorp saves the Users personal information as long as there are legal obligations for the company to do so. As a User, you can at any time request us to supply you with the personal information registered about you. You can at any time request us to change incorrect information and you can at any time request us to delete your personal information provided that there are no legal obligations for us to retain it. kimbocorp's e-commerce system is rigorously constructed to protect your personal information. There's a limited number of staff members in managerial positions who have access to handle your personal information. If you have any questions concerning the treatment or collection of personal information, please contact kimbocorp at support@kimbocorp.com.

17. Law and Disputes

This Agreement shall be governed and interpreted according to the laws of Singapore. Any action by either party which does not comply with Singaporean laws shall be deemed void.

Any dispute arising out of, or in connection with this Agreement, shall primarily be subject to mediation between the parties and if not resolved be referred to and resolved by arbitration in Singapore in accordance with the arbitration rules of the Singapore International Arbitration Centre. The tribunal shall consist of one (1) arbitrator and the arbitration shall be held in the language of English.

18. General and Miscellaneous Provisions

a) The User guarantees that all representations made to kimbocorp are true. The User gives kimbocorp the warranty that none of the funds paid to kimbocorp under this Agreement is connected to any illegal activities.

b) All instances of fraud or attempted fraud will be reported by kimbocorp to the police.

c) The User is solely responsible for understanding and complying with all laws, rules and regulations in the jurisdictions applicable to the User.

d) The User must inform kimbocorp of any changes in the User's contact details and other information provided to us, including, but not limited to: postal address, e-mail address and mobile telephone number. kimbocorp may periodically contact the User to validate the information. If the information cannot be validated, kimbocorp reserves the right to lock the account until kimbocorp can verify the User’s information details.

e) Any notice communicated by kimbocorp shall, unless otherwise noted in this Agreement, be e-mailed to the User’s e-mail address provided by the User’s kimbocorp account. Any notice by kimbocorp will take effect on the next day of it being sent.

f) The Useror kimbocorp account holder agrees to kimbocorp sending out periodic e-mails with information about the market, products, events, promotions or similarly. The User can always choose to unsubscribe from these e-mails by clicking the unsubscribe link in such an e-mail.

g) In the event that the User fails to fulfill the obligations under this Agreement, kimbocorp reserves the right to assign a law firm or a debt collection company to act on kimbocorp’s behalf. Any costs or expenses incurred in relation to such an act shall be borne by the User.

i) Communicating with kimbocorp or reading material on kimbocorp’s website should not be taken as investment advice.

k) kimbocorp makes no representations about the advisability of purchasing items on our site as investment and does not give financial advice.

l) These Terms and Conditions are not a solicitation of any products, plans or services and are not targeting any specific country or market.

m) The User may not transfer the rights and obligations under this contract to anyone else.

19 Limitation of Liability

19.1 Transactions

kimbocorp cannot be held responsible for any loss or damage in the case the User has acted negligently in regard to the security of the User’s account generally, or password or PIN code specifically. kimbocorp can furthermore not be held responsible for any loss or damage in case the User has neglected kimbocorp's strong recommendation of enabling 2-factor authentication. Furthermore, kimbocorp cannot be held responsible for any User using an unsecured computer in accessing the User’s account.

kimbocorp will not be liable for any loss resulting from, but not limited to, inaccuracies in bank details, inaccuracies in cryptocurrency payment details such as incorrect cryptocurrency selected or inaccurate cryptocurrency address input or other incorrect User details supplied by the User. kimbocorp shall not be liable for any damages or losses, including direct, indirect, consequential or incidental damages, which the user may incur due to the use or termination of the website, or due to the fault or negligence of any entity furnishing any facilities, equipment or services used in connection with the website, or due to the failure or delays in transmission, malfunction of equipment, breakdown or failure of any telecommunications systems, software or hardware provided by any entity used to operate the website, or due to any other such similar causes beyond the reasonable control or anticipation of kimbocorp.

If it is determined that kimbocorp is held liable to the User with regard to any transaction consistent to this Agreement, kimbocorp’s liability to the User in relation or due to any transaction shall be limited to the amount paid by the User in such transaction. In no event shall kimbocorp be held liable for any indirect, consequential, or exemplary damages.

19.2 Force Majeure

kimbocorp is not liable for failure to perform its obligations if such failure is a result of a superior or irresistible force or Act of God that cannot be reasonably anticipated or controlled.

If kimbocorp asserts Force Majeure as an excuse for failure to perform its obligation, kimbocorp must prove that it took reasonable steps to minimize delay or damages caused by foreseeable events.

20. Confidentiality and Privacy

kimbocorp protects the confidentiality of its Users. kimbocorp will not divulge any User information relating to this Agreement or otherwise to any third party unless forced to do so under Singapore law. kimbocorp may however disclose User information to its employees, agents and contractors for them to fulfill the obligations and requirements as stipulated in this Agreement.

kimbocorp respects the privacy of its Users. kimbocorp's practices concerning the collection, storage, processing, analysis, transfer, and/or use of the User's personal information reflect kimbocorp's commitment and integrity in providing efficient and reliable services. The User information that is gathered by kimbocorp is used for Userservice purposes only.

21. Third Party Access

The User must not enable any third party to access the User’s kimbocorp account, open or operate an kimbocorp account on the User’s behalf, or access the User’s computer or mobile device from which the aforesaid can be performed. The User must not provide any information, document or any form of verification to any third party which may be used in relation to any account at or transaction with kimbocorp. If the User authorizes a representative to operate the User’s account at or transactions with kimbocorp, that representative must open an kimbocorp account in the representative’s own name and declare to kimbocorp whom the representative acts for.

Without prejudice to any of kimbocorp’s rights under this Agreement, where the User is in breach of any provision under this section: (a) the Userfully indemnifies kimbocorp for any loss, cost, expense, penalty and fee which kimbocorp may incur whether directly or indirectly in relation to the User’s breach (Costs); and (b) kimbocorp will have the right in respect of the User’s account to amend the payment terms of or invalidate any order. Where an order is invalidated under the provisions of this section, kimbocorp will return to the Userany payment made by the User towards the order after deducting Costs to the originating source of the payment, or where that is not possible then in the manner which kimbocorp deems most appropriate for that purpose.

22. Validity

kimbocorp reserves the right to limit, suspend, put on hold or close a User account and/or limit access to funds held on a User account if the User violates the Terms and Conditions in this document or in any other Agreement entered into with kimbocorp.

kimbocorp may terminate this Agreement upon fourteen (14) days' notice given to the User. In case of termination, kimbocorp will send a notice to the registered e-mail address of the User as provided on the User account with kimbocorp or alternatively send a notice to the User's registered postal mail. The User is responsible for the payment of all fees incurred for statutory maintenance of holding companies regardless of the reason for the termination.

kimbocorp may terminate this Agreement at any time if:

a) The User breaches any of the terms of this Agreement

b) The User goes into liquidation, or is declared bankrupt

c) The User is suspected to be using the service of the company for illegal activities, including but not limited to, money laundering and terrorism financing.

d) The User fails to make punctual payment of the fees in accordance with the provisions of this Agreement.