Terms and Conditions

1. Introduction

These Terms and Conditions (“Terms”) govern access to and use of the Sika platform, website, APIs, and related services (collectively, the “Platform”) provided by Sika Box US Inc. and its affiliates (“Sika”, “we”, “us”, or “our”). These Terms apply specifically to the use of Sika’s technology infrastructure, including access to the platform, onboarding processes, and general service interaction. Certain financial services, including foreign exchange (FX) transactions, settlement services, or liquidity provision, may be governed by separate agreements (including but not limited to FX Agreements, Service Agreements, or Partner Agreements). In the event of any conflict, such specific agreements shall prevail over these Terms. By accessing or using the Platform, you acknowledge that you have read, understood, and agreed to be bound by these Terms.

2. Nature of Services

Sika operates as a financial technology infrastructure provider and does not, in all jurisdictions, act as a bank, deposit-taking institution, or licensed remittance provider. Our Platform is designed to facilitate the orchestration, coordination, and monitoring of transactions across multiple jurisdictions. Rather than executing cross-border transfers directly, Sika enables transactions to be carried out through localized settlement mechanisms. This means that each leg of a transaction is executed within its respective jurisdiction by either:

  • A licensed Sika entity; or
  • A regulated financial institution, liquidity provider, or payment partner

Sika’s role is limited to providing the technological layer that connects participants, ensures compliance checks, and enables transaction visibility and coordination.

3. Contracting Entity and Structure

Unless otherwise specified in a separate agreement, access to the Platform is provided by: Sika Box US Inc., a company incorporated in Delaware, United States. Clients contract with Sika Box US Inc. for access to the Platform and related infrastructure. However, the execution of transactions may involve other entities within the Sika group or third-party partners, depending on the jurisdiction and nature of the transaction. Nothing in these Terms shall be interpreted as Sika acting as principal in all transactions.

4. Regulatory Status

Sika operates across multiple jurisdictions under a combination of registrations, licenses, and regulated partnerships. This includes:

  • Registration as a Money Services Business (MSB) in the United States with FinCEN
  • Registration as a Money Services Business (MSB) and Payment Service Provider (PSP) in Canada
  • Participation in African markets through No Objection Letters (NOCs) and regulated local partners in jurisdictions including Kenya, Nigeria, and Ethiopia

Regulatory permissions, requirements, and limitations may vary depending on the jurisdiction in which services are accessed or transactions are executed.

5. Platform Access vs Financial Services

Access to the Sika Platform is distinct from the provision of financial services. Use of the Platform enables clients to:

  • Configure transaction parameters
  • Access infrastructure and APIs
  • Interact with counterparties
  • Initiate transaction instructions

However, the execution of financial transactions (including FX trades, payouts, or settlements) is subject to separate contractual arrangements and may involve third-party regulated entities. Clients acknowledge that:

  • FX transactions are governed by specific FX Agreements or trading terms
  • Settlement timelines and execution depend on external counterparties
  • Sika does not guarantee execution, liquidity, or pricing

6. Client Obligations

By using the Platform, you agree that:

  • You are duly incorporated and authorized to operate in your jurisdiction, and you have full authority to enter into these Terms and any related agreements.
  • You will provide accurate, complete, and up-to-date information at all times, including for onboarding, compliance, and transaction monitoring purposes.
  • You will not use the Platform for any unlawful purpose, including but not limited to fraud, sanctions evasion, or prohibited business activities.
  • You will comply with all applicable laws and regulations, including AML, CFT, and sanctions requirements.

7. Transaction Execution and Risk

Transactions initiated through the Platform are subject to a number of dependencies outside Sika’s direct control. Execution may be affected by:

  • Market conditions and FX volatility
  • Liquidity availability
  • Counterparty performance
  • Regulatory or compliance interventions

Sika does not guarantee that any transaction will be executed, completed within a specific timeframe, or processed at a particular rate. All transactions are undertaken at the client’s own risk.

8. Fees and Pricing

Sika operates on a transparent pricing model, which may include spreads, service fees, or partner-related charges. Pricing is typically communicated prior to execution. However, final execution may be impacted by market conditions or third-party fees.

9. Third-Party Providers

Sika collaborates with a network of regulated third-party providers, including banks, payment institutions, liquidity providers, and compliance vendors. These providers may be responsible for executing transactions or performing certain regulatory functions. Sika shall not be liable for any failure, delay, or error attributable to third-party providers.

10. Limitation of Liability

To the maximum extent permitted by law, Sika shall not be liable for any indirect, incidental, or consequential damages, including loss of profits, revenue, or business opportunities. Sika’s liability is limited to its role as a technology provider and does not extend to failures in external systems or partner infrastructure.

11. Suspension and Termination

Sika reserves the right to suspend or terminate access to the Platform where necessary, including:

  • For compliance or regulatory reasons
  • Where suspicious or prohibited activity is identified
  • In case of breach of these Terms

12. Data Protection

All personal data is handled in accordance with our Privacy Policy.

13. Governing Law

These Terms are governed by the laws of the State of Delaware, United States.

14. Amendments

We may update these Terms from time to time. Continued use of the Platform constitutes acceptance of any changes.

15. Contact

For any questions, please contact: [email protected]