Al Mulla International Exchange Company KSCC

Terms & Conditions of Al Mulla Exchange

Terms & Conditions

Al Mulla International Exchange Company offers many services and products to its valued customers through its network of branches located in the State of Kuwait. The services provided by Al Mulla International Exchange Company are represented in money transfer and foreign exchange services. The following terms and conditions apply to all Mulla International Exchange services and products:

Customer's request for Al Mulla International Exchange Services is an acknowledgment and consent to be bound by these Terms and Conditions which may be amended or changed by Al Mulla International Exchange from time to time. These Terms and Conditions apply to all customers dealing with Al Mulla International Exchange regardless of any terms and conditions. Especially to be agreed by the client.

  1. I have examined the instructions and details of the authorization acknowledged and acknowledged that they are all correct.
  2. I/We understand that all Bank account transfers once initiated to any of the destinations cannot be revoked/recalled/cancelled and return of funds is at the sole discretion of beneficiary bank and requires consent from the account holder
  3. I/We understand if this remittance remains unpaid for whatsoever reasons I/We can only claim from Al Mulla international Exchange Company K.S.CC (Hence forth and interchangeably known as AMIEC) the value thereof at the buying rate on the day the actual refund takes place. The refund will not take place unless I/We return this application form and AMIEC receiving definite advice from their correspondents that the remittance remains unpaid and after the completion of necessary formalities to the satisfaction of AMIEC Repayment/ Refund of the aforementioned claim/remittance is at the sole discretion of AMIEC and I/We hereby indemnify AMIEC and its employees against any liability whatsoever arising thereof.
  4. I/We hereby indemnify AMIEC against any liabilities or claims for damages arising for reasons beyond AMIEC's control (including and not limited to FORCE MAJEURE) or from unforeseen/unanticipated events (including but not limited to the change of laws or procedures in the country in which the remittance is payable. In any case I/We accept that AMIEC's liability is restricted to a maximum of refund of the amount transferred less the AMIEC charges and exchange adjustment. I/We am/are aware that I/We am/are not entitled to any exchange gain in case of refund.
  5. I/We fully indemnify AMIEC against any liability arising out of delays in the remittance for whatsoever reasons. AMIEC will not be held responsible for any delays in remittance transfer/delivery at the destination or for securing advice /receipt, or for any loss of interest or any other damages or for any other reasons that are beyond the control of AMIEC.
  6. Incase remittance got rejected due to any circumstances, and the transaction amount is more than KD 3000/- . In these cases refund amount will be credited back to the customer's same account through the banking channel. 7 Receipt is valid only with cashier's acknowledgment signature with cash received stamp and with the remitter's signature.
  7. I/We am/are aware that AMIEC is not liable for or any remittance done with the k-net of other person.
  8. AMIEC is not responsible for any collection charges/out of pocket charges levied by any third party bank from the proceeds paid to the beneficiary.
  9. the exchange rate determined by Al Mulla International Exchange for the same day of the transaction, which is subject to various factors such as the exchange rate of banks and other exchange companies, the time of the transaction, the value of the transaction, profit margin and others.
  10. Al Mulla international Exchange Company shall charge a Service Fee as commission for all money remittances processed on behalf of the Customer. The Service Fee shall vary from service to service. Al Mulla international Exchange Company reserves the right to change the Service Fee from time to time depending on Al Mulla international Exchange Company internal policies.
  11. The Customer is bound to provide any information requested from the banks before or after the funds have been credited to the beneficiary’s account. In case the information provided by the Customer is delayed or the funds are held or delayed by the banks, Al Mulla international Exchange Company shall not be held accountable for any losses incurred by the Customer. In case a fund remittance is withheld or blocked by a beneficiary or intermediary bank because of international and national financial regulations or sanctions, Al Mulla international Exchange Company shall not be held accountable for any losses incurred by the Customer.
  12. Al Mulla International Exchange shall not be liable for any incorrect information and / or documents provided by the Client and the Customer shall be solely responsible for verifying the accuracy of the information provided by him, including the beneficiary's information.
  13. The purchase and sale of currencies are subject to financial limits and financial exchange restrictions applied by the competent authorities and compliance with anti-money laundering rules. Customers should seriously note that any suspicious transactions will be reported to the relevant authorities in the relevant countries.
  14. Foreign currencies are bought and sold in accordance with any restrictions imposed by the regulators in the country of issue.
  15. Once a currency is bought or sold, it is only returned at the prevailing market rate.
  16. The exchange rate in the case of buying currencies differs from that in the case of sale and this is in accordance with the exchange rate displayed in the exchange rate board in the branches of Al Mulla International Exchange
  17. Currency exchange rates are flexible and subject to changes. Al-Mulla International Exchange is not responsible and does not compensate the customer for any loss that may occur due to these changes. Better or more available exchange rates.
  18. Currency exchange rates are flexible and subject to changes Al Mulla International Exchange is not responsible and does not compensate the customer for any loss that may occur as a result of these changes.   Al Mulla International Exchange does not provide any guarantees regarding the currency exchange rate you provide for any transaction and are not under any obligation to provide the best or most available exchange rates.
  19. Al Mulla International Exchange does not offer foreign coins exchange.
  20. 20 The client is obliged to verify the authenticity of Securities received before leaving Al Mulla International Exchange Company

Important Notice: The terms and conditions on which the service is provided are set out below. You are advised to read these terms and conditions, specially those restraining liability and data protection, before signing this form, in addition to the transfer fee, Western Union and it's agent also make money from the exchange of currencies. Please see further important information above regarding currency exchange and legal restrictions that may delay the transactions set out above of this form. PROTECT YOURSELF FROM CONSUMER FRAUD, CAREFUL WHEN A STRANGER ASKS YOU TO SEND MONEY. DO NOT DIVULGE THE DETAILS OF THIS TRANSFER TO THIRD PARTY.

If you are insured the claim should be filed within 90 days of the incident or will be considered void.

By signing this form, I : 1. Expressly consent to the transfer of my personal data entered above to WU affiliates located outside of the European Economic Area, including to the US for the purpose of providing the money transfer service to me undertaking the additional specified in the Data Protection Section of the terms and conditions. I have the right to withdraw my consent at any time.

I expressly agree to implement advertising and marketing campaigns

I confirm the correctness of the data provided by me and I acknowledge that I have read and accepted the terms and conditions of service in the back.

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