This page provides the definitions for terms marked with an asterisk (*) in Section E (Commercial Terms) of your Master Services Agreement (MSA) with BVNK Malta. These definitions are incorporated by reference into the Agreement, updated from time to time.
The following terms are defined as part of Section E (Commercial Terms) in the Agreement:
| Term | Definition |
| “B2B” | means a payment to or from a legal entity; |
| “B2C” | means a payment to a consumer; |
| “B2B2C” | means a payment allocated as being from a Customer Virtual Account to a consumer; |
| “B2B2B” | means a payment allocated as being to/from a Customer Virtual Account from/to a business organisation; |
“Conversion All-In Rate” (previously "Conversion All-In Exchange Rate”) | means the total cost for the Conversion, including BVNK’s Fees, which may be provided in the relevant quote or instruction. |
"Rate" (previously "BVNK Rate") | means the conversion rate that has been generated by BVNK's integration with liquidity providers, such as exchanges, market makers and OTC trading platforms that provide rates for conversions between digital assets and/or fiat currencies. |