|
FINESSE FINANCIALS is in the business of managing accounts with
funds that are used to take positions in the currency exchange
market through third-party currency traders (hereinafter referred
to as “currency traders”). It is fully understood and
accepted that FINESSE FINANCIALS only manages accounts and does
not practice currency trading or make any decisions that influence
how Client’s funds are traded in the foreign exchange market.
Whereas both FINESSE FINANCIALS and the Client are desirous of
entering into a relationship which will be provided on the terms
and conditions set forth:
IT IS HEREBY AGREED AND DECLARED AS FOLLOWS:
1. Definitions and Interpretation
In this Agreement unless the context otherwise requires:-
1.1 “Margin” shall
mean any sums invested by the Client under the terms of this agreement;
1.2 “Services” shall
mean administratively managing funded accounts that the currency
traders use to take margin leveraged speculative currency positions;
1.3 Words expressed in any gender
shall where the context so requires or
permits include any other gender;
1.4 In this Agreement words importing
persons shall include bodies corporate
and partnerships and other incorporated bodies and vice versa;
1.5 In this Agreement words expressed
in the singular shall where the context
so requires or permits include the plural and vice versa;
1.6 The headings and clauses in
this Agreement are inserted for ease of
reference only and shall not affect the construction of this Agreement.
2. Contractual Relationship
2.1 In connection with opening
an account the Client acknowledges that the
Client has been advised by their relevant financial advisor and
understands the following factors concerning the services offered
pursuant
to this contract:
2.2 Currency trading carries a
high degree of risk. The Client will be entirely responsible for
the risk associated with the provision of services
By FINESSE FINANCIALS.
2.3 All sums invested pursuant
to this Agreement will be used as a margin for
taking margin leveraged speculative currency positions. All gains
on trade will be added to this margin and all losses subtracted.
Further, losses may arise as a result of fluctuations in the exchange
rates which will in turn affect currency prices.
2.4 The minimum amount trading under this Agreement is One Thousand
United States Dollars (US$1,000.00).
2.5 Margins will be invested 3
working days after receipt by the currency trader. Margin leverage
on trades will vary in a range of 10:1 to 50:1. Under normal market
condition trades will be executed at margin leverage levels of
20:1.
2.6 The currency trader reserves
the right to alter the margin leverage at
any time.
2.7 FINESSE FINANCIALS reserves
the right to refuse membership to any individual or entity.
2.8 The Client acknowledges and
accepts that it is the Client’s responsibility
to report their earnings/gains to the relevant authorities in whatever
country/territory/region for tax purposes. FINESSE FINANCIALS
is not responsible for reporting any earnings/gains to any tax
authority save for those that constitute revenue directly and solely
earned by FINESSE FINANCIALS.
2.9 Notwithstanding paragraph
2.8 above, the Client hereby authorizes FINESSE FINANCIALS or a
duly appointed agent thereof to deduct from the margins or gains
held by FINESSE FINANCIALS on the Client’s behalf any taxes
and fees payable by FINESSE FINANCIALS or its officers in respect
of any transactions relating thereto.
3. Authorization to Transfer Funds
Except with the specific written permission of the Client FINESSE
FINANCIALS will not transfer funds from or among Client’s
accounts.
4. Withdrawals
All withdrawal requests will be honoured in accordance with the
policy more particularly described in the Scheduled hereto annexed
(Click
here to view New Withdrawal Request Policy).
5. Warranties and Guarantees
5.1 FINESSE FINANCIALS makes
no expressed or implied warranties save and except for those contained
in this Agreement regarding the service provided by it. Neither
FINESSE FINANCIALS nor its representatives shall be liable for
any interruption, inaccuracy, error, or omission, regardless of
cause in the service provided.
5.2 The Client warrants that
no Margins, or any part thereof has been sourced or involved in
any way whatsoever in money laundering, drug trafficking or any
other form of illegal activity.
6. Communication
Statements will be provided on a monthly basis regarding the Client’s
account by the posting of same at the web portal for which the
Client has received log-in credentials. The Client is responsible
for providing FINESSE FINANCIALS with updated contact information
at all times. The Client agrees that FINESSE FINANCIALS will not
be responsible for any delays in the transmission.
7. Liability
The Client agrees to waive all liabilities of FINESSE FINANCIALS
which arise out of this Agreement, save and except for any actions
or inactions of FINESSE FINANCIALS which are proven by a court
of competent jurisdiction to amount to fraud with intent to deceive
or gross negligence.
8. Termination
This Agreement shall be in effect on the date hereof and shall
continue until such time as either of the parties hereto issues
written notice to the other party hereto of its intention to terminate
this Agreement. On termination of this Agreement, the Client will
be paid in a manner consistent with the withdrawal policy described
in the Schedule hereto annexed (Click
here to view New Withdrawal Request Policy).
9. Force Majeure
The Client shall hold harmless FINESSE FINANCIALS and its officers
from and against any losses, costs, expenses, claims, damages and
liabilities to which such Indemnified Party may become subject
under any applicable law, or any claim made by any third party,
or otherwise, to the extent they relate to or arise out of any
failure in the performance of any obligations of FINESSE FINANCIALS
under this Agreement, where such failure results from circumstances
outside the direct control of FINESSE FINANCIALS.
10. Variation
No amendment or waiver of any provision of this Agreement, or
consent to any departure by the Client from such provision, shall
be effective unless the same shall be in writing and signed by
the parties hereto, and, in any case, such amendment waiver or
consent shall be effective only in the specific instance and for
the specific purpose for which given.
11. Notice
11.1 Any and all notices hereunder shall, in
the absence of receipted hand delivery, be deemed duly given when
mailed, if the same shall be sent by registered or certified mail,
return receipt requested, and the mailing date shall be deemed
the date from which all time periods pertaining to a date of notice
shall run. Notices shall be addressed to the parties at the
addresses specified in Item 1(a) of the Schedule hereto.
11.2 Notices hereunder may be sent by electronic
mail in which event said notices shall be addressed to, and received
from the addresses specified in Item 1(b) of the Schedule hereto
and shall be deemed to be received after the expiration of three
(3) working days after said notice is sent.
12. Assignment
This Agreement and the rights of the parties hereto shall not
be assigned without the prior written consent of the parties hereto;
provided, however, that FINESSE FINANCIALS may assign or transfer
its duties or interests hereunder to an authorized affiliate at
the sole discretion of FINESSE FINANCIALS.
13. Law
This Agreement is to be interpreted in accordance with the laws
of the British Virgin Islands. As consideration for FINESSE FINANCIALS
granting this Agreement, the exclusive jurisdiction and venue for
all disputes shall be in the courts of the British Virgin Islands.
If any portion of this Agreement is held to be invalid, unenforceable,
or illegal, the validity, enforceability, or legality of the remainder
of this Agreement will not be impaired. The Client represents that
he/she has read and understands his/her obligations under this
Agreement and agrees and acknowledges that the Agreement will control
the Client’s relationship with FINESSE FINANCIALS.
14. Non-Solicitation
The client warrants that the terms and conditions contained in
this Agreement are accepted by, and binding on, the Client, and
that the Client has entered hereinto freely and not under inducement
or solicitation by any director, officer or other such representative
of FINESSE FINANCIALS.
| 