PRELIMINARY INFORMATION AND GENERAL TERMS AND CONDITIONS APPLICABLE TO PAYMENT TRANSACTIONS

ONE.- About RIA

Ria Payment Institution E.P., S.A.U. (hereinafter, RIA), incorporated under Spanish law with registered office in Calle Cantabria 2, 28108, Alcobendas, Madrid (España)and with registration number (CIF) A- 80696792 is authorised by the Ministry of Economy and Treasury of Spain as a Payment Institution on 28 July 2011. RIA holds license number 6842 with Bank of Spain (RIA´s license details can be accessed at www.bde.es). RIA may be contacted by post at its head office address indicated herein, by phone (+34 91 7613760) or by email at TitularServicioCliente@riafinancial.com.

The purpose of these General Terms and Conditions is to establish the rights and essential obligations between RIA and its customers in the provision of payment services regulated in Act of 25 June 1999 No. 46 on Financial Contracts and Financial Assignments (hereinafter the "FA Act"), to allow the execution of Payment Transactions by signing, where appropriate, the respective individual contracts establishing the specific conditions applicable to the specific payment service in question (hereinafter, the "Individual Payment Orders").

TWO.- Definitions

The following terms used throughout these Terms and Conditions shall have the meaning and scope indicated below:

“Beneficiary” means a person intended to receive funds from a Sender.

"Business Day" means any day on which, for the purposes necessary for the execution of a Payment Transaction, the Sender  or Beneficiary's payment service providers involved in the execution of the Payment Transaction are open for business.

“Customer” means, (i) in the context of a "consumer", a natural person who, in payment service contracts, acts for purposes unrelated to his economic, commercial or professional activity; and (ii) in the context of a "non-consumer", a natural or legal person who, in payment service contracts, acts in the development of his economic, commercial or professional activity.

“Money Remittance” means a payment service that allows funds to be received from a Sender without creating a payment account in the name of the Sender or the Beneficiary, for the sole purpose of transferring an equivalent amount to a Beneficiary or to another payment service provider that acts on behalf of the Beneficiary, or funds to be received on behalf of the Beneficiary and making them available to the Beneficiary;

“Payment Transaction” means an action, initiated by the Sender or by the Beneficiary, as the case may be, consisting of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the two; and

“Sender” means a person who gives a Payment Transaction instruction for the payment of funds to a Beneficiary.

THREE.- Scope of application

These General Terms and Conditions apply to the following payment services that are provided in Norway:

·         Money Remittance.

FOUR.- Actions of the Customers

When contracting any product or service associated with Payment Transactions, the Customer shall be considered a “consumer” or “non-consumer” as provided by applicable regulations..

FIVE.- Information obligations prior to the issuance of a Payment Transaction

The information that the Sender must provide to RIA, as determined by RIA from time to time, may include without limitation the following:

Data relating to the Sender:

Natural persons: Full name, surnames, Norwegian national identity number, D number or, if the Customer does not have such number, some other unique, valid and in force identification number (residence card, ID card, passport or valid and in force identification document of the country of origin that includes photograph and signature), nationality, profession, date of birth, place of birth, sex, valid postal address, telephone and purpose for which the Payment Transaction is made. Data relating to the identity of the Sender must be verified by the personal appearance and presentation of valid identification papers by the natural person concerned, or by other means as determined by RIA from time to time. In the event that a Sender who is a natural person acts through an agent or representative, the data listed in this paragraph must also be provided as regards the agent or representative, and the current power of attorney of the representative must be documented in a manner deemed appropriate by RIA.

Legal persons: Articles of Association and a Certificate of Registration from the Norwegian Companies Registry (no. Firmaattest) documenting the business name, form of organisation, business registration number, address and name of CEO and directors or persons in equivalent positions. When beginning the relationship, information will be requested on the shareholding and control structure of the company. In addition to the above, natural persons representing the legal person must provide and verify to RIA the data listed in the previous paragraph and a document proving the current power of attorney of the representative.

The Sender undertakes to verify the accuracy and integrity of the data relating to the Payment Transactions it orders RIA to perform, the execution of any of the payment services described in Section Three of these Terms and Conditions, especially as regards the identification details of the Beneficiary and the economic terms of the Individual Payment Order, an order that will have a unique number for future tracking or a unique identifier. Such Individual Payment Order together with these Terms and Conditions form, for the purposes of the FA Act, the individual contract that will govern that Payment Transaction.

When a Payment Transaction is executed in accordance with the instructions received from the Sender and recorded in the Individual Payment Order, it will be considered to have been correctly executed in relation to the specified Beneficiary. Therefore, should any of the data provided by the Sender be incorrect, RIA will not be responsible for the non-execution or defective execution of the Payment Transaction.

In accordance withSection 30 of the FA Act, RIA will store the copies of the identification documents of the Customers for five years after the relationship has been terminated or the Individual Payment Order has been processed, in optical, magnetic or electronic format to guarantee their integrity, the correct reading of the data, the impossibility of their manipulation and their adequate conservation and localisation.

RIA may request at any time for the amount of the Payment Transaction to be credited into a bank account held by RIA

Furthermore, enhanced due diligence measures for the identification and better knowledge of the Customers will be adopted in Payment Transactions whose amount, either individually or accumulated, exceeds the amount and period determined by RIA from time to time.

In the event that you have at any time selected digital delivery of your receipt, you can change this option to receive your receipt in paper form at the time of submitting an Individual Payment Order.

SIX.- Expenses and applicable fees

For RIA's provision of payment services, including Money Remittance, the Customer, whether acting as Sender or as a Beneficiary, must pay RIA the expenses and commissions applicable to the Payment Transaction in question in accordance with the settlement that is carried out in the Individual Payment Order.

The Beneficiary of a Payment Transaction will be paid the net amount recorded in the Individual Payment Order delivered to the Sender, after deducted, if applicable, any expenses and taxes that may have been applicable to the Payment Transaction in the destination country.

The expenses and commissions accrued in favour of the payment service provider of the other party involved in the Payment Transaction will be borne by the latter, so that the Beneficiary must only bear those expenses that were required, as the case may be, by payment service provider in destination.

For Payment Transactions in which the Customer is the Beneficiary, RIA may deduct its expenses from the amount transferred before paying it, except for those Payment Transactions initiated through RIA, in which case the total amount of the Payment Transaction will be paid, without any deduction.

In the event that three (3) months have elapsed since the receipt of funds for Payment Transactions without the payment order having been executed and the funds being returned to the Sender, RIA may charge a monthly fee to said funds for the purpose of managing the balance. The maximum fees applicable by RIA for those costs incurred by RIA as provided herein are set out in the fees table at the end of these Terms and Conditions.

Information regarding the Terms and Conditions for RIA's provision of payment services, including Money Remittance, is provided free of charge to the Customer. However, RIA may pass on to the Customer the expenses caused by the revocation of Payment Transactions and those that arise from the recovery of funds for Payment Transactions with an incorrect beneficiary identifier.

The exchange rates applicable, as the case may be, to the currency conversion implicit in the Individual Payment Order will be made available to Customers along with the commissions applicable to the Payment Transaction from time to time and will be accepted by the Customer with the signature of each Individual Payment Order.

SEVEN.- Consent, irrevocability and cancellation of Payment Transactions.

Consent:

The consent of the Sender to the execution of a Payment Transaction is provided by signing the corresponding Individual Payment Order.

RIA is not responsible for the loss or misuse by the Customer for the document evidencing the Individual Payment Order as provided by RIA unless otherwise provided by applicable regulations.

Irrevocability:

The Sender may not revoke a Payment Transaction order after received by RIA and sent to the payment service provider of the Beneficiary.

When the Payment Transaction has been initiated by or through the Beneficiary, the Sender may not revoke the Payment Transaction once the Payment Transaction or consent to the Payment Transaction has been transmitted to the Beneficiary.

Cancellation of Payment Transactions:

The Sender may withdraw consent at any time prior to the dates of irrevocability indicated above. RIA may charge expenses for the revocation of the Sender's consent as agreed with the Sender for any Individual Payment Order.

Payment Transactions may not be executed if the Sender was unable or refused to provide the required information and/or documentation or when this was necessary under the internal control procedures of RIA or in compliance with applicable laws and regulations.

When a Sender wishes to cancel a Payment Transaction in person, he/she must appear at the establishment where he/she ordered it with the respective Individual Payment Order receipt. Only after verifying that the Payment Transaction has not been paid at the destination country to a Beneficiary, RIA shall proceed with the cancellation.

If a Payment Transaction is cancelled, RIA will reimburse the funds to the Sender through an agent or through a deposit into the Sender's bank account as agreed with RIA.

EIGHT.- Execution of payment transactions

8.1. Receiving Payment Transactions

The time of receipt of a Payment Transaction shall be that at which it is received by RIA. If the time of receipt is not a Business Day for RIA, the Payment Transaction will be deemed to have been received the following Business Day.

Payment Transactions will be executed when the Sender has placed sufficient funds at the disposal of RIA.

RIA reserves the right to refuse the execution of a Payment Transaction if, prior to the execution of a Payment Transaction, the Sender does not provide RIA with all funds, including where the Sender lacks of sufficient funds in the payment account for the execution thereof. In the event that RIA rejects the execution of a Payment Transaction, it will notify the Sender of said refusal and, if possible, the reasons for it, as well as the procedure to rectify possible errors that led to such refusal, unless any applicable law or regulation prohibits such notification.

Payment Transactions rejected will not be considered as received for the purposes of Section 8.2, below.

Payment Transactions initiated on paper shall be deemed received on the following Business Day.

8.2. Term of execution and value date

a) Scope of application.- it is expressly agreed that the provisions regarding the execution period and value date will only be applied to Payment Transactions made (i) in Norwegian kroner; (ii) in euros where both the Sender's and the Beneficiary's payment service provider is established in the European Economic Area; or (iii) Payment Transactions in the European Economic Area that only involve one currency conversion between euro and Norwegian kroner where the currency conversion is carried out in Norway and any cross-border transfer takes place in euro.

b) Payment Transactions in which the Customer is the Sender. In relation to Payment Transactions in which the Customer acts as Sender, RIA will ensure that the amount of the Payment Transaction is paid into the account of the Beneficiary's payment service provider, at the latest, at the end of the Business Day following the time of receipt of the Payment Transaction order. For domestic Payment Transactions in Norwegian kroner, such amount shall also be credited to the Beneficiary's payment service provider on the same day as the Sender's account is debited. If the time of receipt is not a Business Day, the Payment Transaction will deemed to have been received during the following Business Day. These terms will be extended by one Business Day in the case of Payment Transactions processed on paper.

c) Payment Transactions in which the Customer is the Beneficiary. In the case of Payment Transactions in which the Customer is the Beneficiary, RIA will make available the funds of the Payment Transaction no later than the Business Day on which the funds of the Sender's payment service provider have been received.

Payment Transactions which do not fall into the scope of application of this Section 8.2, are not subject to the above provisions regarding execution date and value date unless otherwise provided herein. In these cases, the execution deadlines will depend on the Beneficiary's payment service provider, with RIA undertaking to perform the transaction (only as the Sender's payment service provider) within a maximum period of three Business Days from the Business Day following the receipt of the Payment Transaction order.

8.3. Impossibility of executing a Payment Transaction

In the event that funds received from Senders or received through another payment service provider to be paid to the Beneficiary are in RIA's possession at the end of the Business Day following the day they were received, they will be deposited in a separate account in a credit institution or will be invested in safe, liquid and low risk assets as established by applicable laws and regulations.

NINE.- Payment Transactions involving currency conversion and currency exchange services

RIA will make available to its Senders the currency exchange rates applicable to Payment Transactions. In any event, the exchange rates shall be communicated to Senders prior to the Sender's acceptance to issue a Payment Transaction order and will be included in the Individual Payment Order that includes the settlement thereof.

Payment of the amount to the Beneficiary of the Payment Transaction ordered by the Sender will be made in cash or by crediting the amount to the account in the corresponding currency according to the country of destination, unless due to the agreement with the Sender and/or commercial relationship that RIA maintains with the Beneficiary's correspondent or payment service provider it may be paid using a different payment method and/or in a currency different from that of the destination country.

At any event, RIA reserves the right to reject any Payment Transactions that, in accordance with its internal regulatory controls, requires additional verifications and prevents the immediate execution thereof.

TEN.- Payment Transactions not authorised or executed improperly

When the Customer is aware that an unauthorised or improperly executed Payment Transaction has taken place, it must communicate this fact without undue delay to RIA in order to proceed with the correction.

When acting as payment service provider of the Sender, RIA will immediately refund the amount of the unauthorised Payment Transaction in all those cases in which it is not possible for RIA to demonstrate that (i) the Payment Transaction was authenticated, accurately recorded and accounted for, or (ii) affected by a technical failure or any other deficiency.

ELEVEN.- Data Protection

RIA's Privacy Policy (available by clicking on the “Privacy Policy” link on www.riafinancial.com) sets out the terms on which RIA processes any personal data collected from Customers, or that Customers otherwise provide or have provided to RIA.

TWELVE.- Applicable legislation

The legal relationships detailed in these Terms and Conditions are governed by their own clauses and the individual agreements reflected in the Individual Payment Orders and, for matters not provided for therein, by the FA Act and any other applicable Norwegian law and regulation.

For any questions or concerns about a Payment Transaction executed with RIA or these Terms and Conditions, you may contact RIA´s Customer Service at:

RIA CUSTOMER SERVICE:

Schweigaards gate 6, 0185,
Oslo, Norway
Tf 0047-23960260
E-mail infono@riafinancial.com

Customers must submit their complaints for addressing any dispute, in writing (i) in person at any of the offices of RIA PAYMENT INSTITUTION, E.P., S.A.U; (ii) by post to the attention of the Customer Service Representative of RIA PAYMENT INSTITUTION, E.P., S.A.U., Calle Cantabria 2, 28108, Alcobendas, Madrid (España); or (iii) by e-mail to TitularServicioCliente@riafinancial.com.

The Customer Service Department will reply to the complaints submitted by Customers within a maximum period of fifteen (15) Business Days of receipt of the complaint, unless for exceptional circumstances (to be notified by RIA to the Customer within such period) the deadline of the final reply needs to be extended to no more than one (1) month from the receipt of the complaint.

In the event that the complaint filed with the Customer Service Representative of RIA was rejected or the above mentioned period to reply has elapsed without the aforementioned Customer Service Department having answered, the Customer may submit its claim to the Banking Services Customer Service Ombudsman (through the Claims Department) by post to Banco de España, Departamento de Conducta de Mercado y Reclamaciones, C/ Alcalá 48, 28014 Madrid; or through the Virtual Office of the Bank of Spain (site www.bde.es).

MAXIMUM FEES

The current fees of RIAare the MAXIMUM and apply to all Customers, both consumers and non-consumers, with RIA reserving the right to apply lower fees to its Customers for any of the items outlined.

 1.- ADDITIONAL SERVICES

Cancellation, modification or return of money remittances (Note 1)

Fees: The expenses that arise for RIA will be passed on to the respective Customer.

Money Remittances with insufficient or incorrect data (Note 2)

Fees: The expenses that arise for RIA will be passed on to the respective Customer

Balance management (Note 3)

Fees: € 3.00/month (or its equivalent in Norwegian Krone)

Note 1. Cancellation, modification or return of Momeny Remittances.

RIA will take the necessary steps to execute a Payment Transaction order issued by the Sender in order to cancel, modify or attempt to withdraw a Payment Transaction order.

If the actions carried out involve expenses charged by third parties, these will be passed on to the respective Customer even if said actions were unsuccessful for reasons not attributable to RIA.

Note 2. Payment Transactions with insufficient or incorrect data.

The omission of any of the data necessary for executing a Payment Transaction will not entail charging an additional fee to the respective Customer thereof, although the costs incurred by RIA for any steps taken to obtain the details necessary to payout the Payment Transaction will be passed on to the respective Customer, even if the said steps are unsuccessful for reasons not attributable to RIA, as well as the expenses that arise for RIA for the recovery of the funds if it is not finally possible to pay the Payment Transaction or if RIA decides not to locate the non-existent, incomplete or incorrect data and return the funds to the respective Customer or its payment service provider.

Note 3. Balance management.

In the event that funds received from Customers are in RIA's possession at the end of the Business Day following the day they were received, they will be deposited in a separate account in a credit institution or will be invested in safe, liquid and low risk assets as established by applicable laws and regulations. For carrying out these procedures, and after a period of three (3) months from the receipt of funds without the Payment Transaction being executed or returning the funds to the respective Customer, RIA may charge a monthly commission against such funds.