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The responsibility of Infrabanx Agency or its duly appointed Infrastructure/Independent Financial Services Agency/Agent (“IFSA-HC”) or a processing agent ("PA") of Infrabanx Network!™ to further economic development by encouraging growth of the host country and the emerging market enterprises therein through the implementation and fulfillment of its mandate. In carrying out this purpose, The Agency from time to time: |
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(a)
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Provide Infrabanx’ products and services within the Territory, in accordance with the prevailing laws of the Territory; |
(b)
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Pay all its expenses for the implementation of marketing research, telex, fax, telephone, postage, travel, promotion, advertising, the cost of all personnel and independent contractors employed or engaged in the implementations of its marketing plan and the underwriting, funding, and/or facilitating duly incurred in providing the products and services within the Territory; |
(c)
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Use its best efforts to maintain good commercial relations with clients and potential clients of the products and services in the Territory, and promote the interests of Infrabanx Corporation in the Territory. In this regard, The Agency shall make prompt deliveries of completed directive (s), provide adequate staff and trained analysts for the purposes of client service in the Territory, and provide to clients such assurances as may be reasonable required by a financial institution or other qualified entity within the Territory, subject to Infrabanx Corporation’s prior approval; |
(d)
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Maintain continuous and adequate client service through trained analysts who will travel or be stationed in designated provinces, territories, municipalities and/or cities; |
(e)
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Ensure that any registration or notification required by the laws of the Territory will be carried out in a timely manner; |
(f)
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Comply with all laws and regulations as may apply within the Territory, as applicable to this constitution and all transactions and activities contemplated or to be performed under this constitution, and shall procure and maintain all approvals, licenses, permissions, permits and immunities necessary to the performance of its business and in the conduct of its affairs in a manner so as to not bring discredit upon the reputation of the products and services; |
(g)
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Compliance with United Nations Resolutions: The Agency shall ensure that it does not take any action, which will cause it to be in violation of any law of any jurisdiction in the Territory, including but not limited to United Nations Resolutions and/or the Corruption of Foreign Public Officials Acts (Canada), and other sponsoring countries equivalent Act; |
(h)
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Risk Assumption: The Agency shall ensure that its clients carry and assume all risks of credit, currency devaluation, blocked currency, confiscation, expropriation, rebellion, revolution, war and all other risks of the transactions that are being facilitated from time to time; and |
(i)
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Fees and Charges. Provide its products and services at such fees or charges and on such terms of credit as may be reasonable under the conditions of the markets involved, in order to expand and hold the trade or otherwise; |
