Terms and Conditions

In requesting ZARCO (Zarco Exchange Company Private Limited) to make the telegraphic transfer, the Applicant agrees to the following terms and conditions:

1. ZARCO is at liberty to send the telegraphic transfer either literally or in cipher entirely at Applicant’s risk. ZARCO shall not be liable for any loss, delay, error, omission which may occur in the transmission of the message or for its misinterpretation when received or any delay caused by the clearing system of the country in which the payment is to be made or any act default or negligence of the beneficiary’s Bank in collecting the remittance. In no event shall ZARCO under any circumstances be liable for any loss of profits or contracts or special indirect or consequential loss or damages.
2. In the absence of specific instructions, the telegraphic transfer will be affected at the sole discretion of ZARCO and customer will not have any objection on that.
3. All charges/commission outside Pakistan are on beneficiary’s account unless specified.
4. ZARCO reserves the right to send this telegraphic transfer from a different place other than the one specified by the remitter.
5. Where ZARCO is unable to provide a firm exchange rate quotation, ZARCO shall affect the remittance on the basis of a provisional exchange rate which shall be subject to adjustment when the actual exchange rate is ascertained. Any difference between the provisional rate and the actual rate shall be received from/paid to customer.
6. Encashment of the remittance is subject to any exchange control or other restrictions which may be imposed by the rules and regulations of the country where encashment is to be made. Neither ZARCO nor its correspondents or agents shall be liable for any loss or delay caused by any such rules and regulations.
7. If a refund of the remittance amount is desired from ZARCO by the Applicant, ZARCO shall, at its discretion make the payment to the applicant at the prevailing buying rate for the relevant currency less all charges and expenses.
8. ZARCO is to collect all telegraphic transfer charges and other charges including those charged by ZARCO’s correspondent bank from the customer.
9. ZARCO reserves the right to revise all telegraphic transfer charges from time to time without prior notice.
10. ZARCO is responsible only for direct dealings through authorized persons at owned Branches. And does not take any responsibility of any dealings by the unauthorized persons and/or Franchisee and/or Payment Booth.
11. Confirmation regarding authorized persons can be obtained from VP (Finance, Accounts and Audit) through Telephone No.+92-42-6301253 & 6301977 Ext.148 or email ghaffar@zarcoexchange.com