Okoora Financial Services Agreement - Okoora - Currency Simplified.

Financial Services Agreement

Financial Services Agreement

This Agreement is one of the separate Agreements referred to in Okoora Framework Agreement and constitutes an integral part of the Framework Agreement. This Agreement sets the terms for the receipt of services with respect to financial assets between the Client and Horizon Trading Rooms Ltd., Company Reg. No. 513906958 (the "Company"), which is licensed to provide services in financial assets, in compliance with the Financial Services (Regulated Financial Services) Law, 5776-2016
  1. General
    • The terms of this Agreement shall apply to the provisions of services with respect to financial assets by the Company (the "Services").
    • Some features of the Services shall be subject also to the provisions additional documents, forms, orders etc. executed by the Client.
    • The Company relies on the Client's representation that the Client is permitted to receive the Services and/or perform actions in accordance with the Services, and that the Client is not subject to any restriction under any law or agreement, (including incorporation documents, to the extent that the Client is a corporation), to engage in transactions offered by the Company as part of the Services.
  2. The Services
    • The Company shall provide the Client with currency conversion services, receipt, payment, and hedging services, including through purchase and/or sale and/or writing of futures transactions, options transactions and transactions in foreign exchange derivatives (but not contracts for differences and other financial instruments), interest rates, commodities, indices and financial derivatives. As mentioned, the Company does not provide services in connection with a "financial instrument" as the definition of this term in the Securities Law, 5728-1968 (the "Securities Law").
  • Instructions for carrying out orders may be given by the Client through an online information system ("the System"), by telephone, e-mail, or by any other configuration, at the sole discretion of the Company, and subject to the terms of use of the system or other configuration, as may be from time to time.
  • The provision of the Services is conditional upon the Client's compliance with the identification and documents requirements, as these shall be from time to time, in accordance with the provisions of the law and the Company's procedures, and the existence of collateral as specified in this agreement.
  1. Conversions & Payment Services
    • The Company shall provide the Client with currency conversion services and/or payment execution services (the "Operations") on national and international business days only
    • Deposit and/or transfer of funds to the Company by bank transfer shall be deemed to have been made on the date on which confirmation is received from the Company's Bank that the funds have been deposited and/or actually transferred to the Company's bank account.
    • The Client undertakes to notify the company of any deposit and/or transfer of funds. The Client represents that he/she/it is aware that the Company shall not be liable for any damage and/or loss and/or monetary loss and/or expense caused to them in respect of and/or in connection with the failure to provide the said notice.
    • A transfer confirmation issued by the Company itself and/or by a third party, as the case may be, shall constitute final and absolute approval of the transfer of payments to the destination account as required. It is the Client's responsibility to ensure receipt of the amounts in the payee account to which the payments are to be transferred (the "Destination Account ") and the Client undertakes to notify the Company, no later than 2 business days of the date of receipt of funds in the Destination Account. The Company shall make every reasonable effort to assist the Client with locating the funds if they were not received in the destination account, but the Company shall not bear any responsibility in connection with delays and/or loss of funds etc. originating in the local and/or global banking system and the Client shall have no claim and/or demand and/or a suit against the Company and / or anyone on its behalf.
    • Receipt and transfer of payment services by third parties are subject to the Company's approval in relation to the sender and / or recipient of the payment, in accordance with any law, but the Company shall have no responsibility regarding the destination account and/or beneficiary, including the funds themselves, their holding, use and all matters related. The Company is not and shall not be a party to the transaction and/or any dispute between the Client and the beneficiary/s and shall not be responsible in any way for the quality of the transaction, the products and/or services for which the payments are transferred at the Client's request.
    • The Client must notify the Company of any error found or suspected to be found in the Clients account. The Company reserves the right to freeze the account and to correct any error in the account, including funds deposited to the account by mistake, transactions executed in the account by mistake or based on funds deposited by mistake etc., including the withdraw of any funds from the account to correct such error or mistake, by giving notice to the Client without the need for the Client's approval and without assuming any liability towards the Client or any third party. In case there are no sufficient funds in the Client's account to correct such error, the Client shall owe the Company such funds. The Company may freeze the Account and/or the Services until the resolution of the case according to the Company's discretion.
  2. Transactions in Financial Assets
    • The Company shall provide the Client with the purchase and/or sale and/or holding of financial assets in accordance with the instructions of the Client and/or the proxy acting on their behalf (the “Transactions"). The Company does not provide investment consulting and / or investment marketing services and / or investment portfolio management, as defined in the Investment Advising, Investment Marketing and Investment Portfolio Management Regulation Law, 5745-1995 and does not operate a "trading platform" as defined in the Securities Law.
  3. Clients Instructions
    • The Client shall be permitted to submit requests and / or instructions to the Company by telephone, e-mail, in accordance with the Company's forms and procedures as these may be from time to time. Direct engagement with the Company's trading room, including the submission of requests and/or instructions of any kind by the Client, shall be conditional upon obtaining the Company's approval, in advance, and/ or in any other way approved by the Company in advance and in writing, and during the Company's trading room's working hours only. The Company may, in its sole discretion, revoke the Client's direct engagement by delivering a notice that takes immediate effect to the Client.
    • The Company may, but does not have to, refuse to carry out an instruction given to it by the Client, if such instruction is not feasible, inter alia, due to being contrary to the provisions of any law and/or to the best of the Company's knowledge, executing the Client's instruction will result in insufficient collateral and/or insufficient funds to cover the expenses incurred by the Company for the execution of the instruction and / or to ensure the execution of any obligations the company undertakes (except in the case of the Client providing sufficient collateral to the satisfaction of the Company), and / or if the execution of the instruction is not possible within a reasonable period of time and / or if the instruction is not clear and / or if the instruction is of the type of instructions that the Company does not usually carry out. If the Company carries out the Client's instruction, even if it does not have to do so, this shall not constitute a precedent and shall not oblige the Company regarding instructions and/or additional actions and/or shall impair the Client's obligation to cover any outstanding balance created for the Client.
    • The Client shall not be entitled to condition the execution of an order and/or transaction in the execution of another order and/or another transaction, and that the Client's instruction to perform an order and / or transaction shall be considered as a single instruction that is not conditional upon the execution of any other order and / or transaction or the execution of any other instruction, even if the Client had notified the Company that the instructions they gave or will give to the Company are related or conditional.
    • The Client is aware that giving a consent to carry out an order and/or transaction, it will not be possible to cancel them, and therefore it is their responsibility to verify the details of the operations and / or transactions they intend to carry out, before instructing the Company to carry them out. The company shall not be obliged to notify the Client of the non-execution of any order and/or transaction in the event that any of the Client's instructions are not carried out, in whole or in part, and the Client undertakes to be proactive follow up after the execution or non-execution of his instructions.
    • If the Client asks to cancel an order and / or transaction after giving his consent and before they are completed, or if it is a request to perform an order and / or transaction on a specific date that is not the request date, the Client declares and confirms that he knows the Company may not be able to cancel the order and / or transaction, and hereby waives any claim and / or complaint and / or demand in the matter. If the Company has managed to cancel the order and / or transaction, and as stated this does not constitute an obligation or consent by the Company to cancel, the Company shall be entitled to charge the Client a sum of 0.25% of the amount of the order and / or transaction the Client seeks to cancel.
    • The Client hereby undertakes to carry out regular and daily monitoring of the execution of the orders and / or transactions and to be updated with regards to the scope of his liability and the overall exposure thereunder.
  4. Fees, Payments and Reimbursement of Expenses
    • In respect of the execution of the orders and / or transactions for the Client, the Company shall be entitled to receive from the Client commissions, premiums and other payments or any other rate to be agreed upon between the parties, prior to the execution of the action and / or transaction. Accordingly, the Company shall charge a fee, at the rate specified on the Company's website, from the scope of any transaction made This payment shall be paid from the Client's account or by directly charging the Client, plus VAT as required by law.
    • The Company may, at its discretion, change the commission rate from time to time, as well as charge commissions, premiums and additional payments (together: "the Fees"), provided that such changes and/or commissions and payments are brought to the Client's notice prior to the action or transaction, including by posting an update about the Fees on the website.
    • It is hereby agreed that the Company shall be entitled to reimbursement of any expenses it incurred in connection with the services it provides to the Client under this Agreement and which can be directly attributed to the services provided to the Client, and the Client hereby undertakes to pay the Company, at its first demand, all expenses incurred, or to be incurred by the Company, for the purpose of carrying out the actions and / or transactions for the Client and / or as a result of their execution.
    • In addition to Fees and payments to the Company, the Client shall bear all commissions and / or expenses charged and collected by the banks from the Company, including but not limited to, payments involving the creation of financial assets, purchase and / or sale of foreign currency, trading in commodities, indices and currencies, commissions and / or the expenses that will be charged by third parties and / or the party receiving the payment as part of payment services abroad, as well as the interval, if any, between the transaction price that the Client is required to pay and the price of a corresponding transaction that the Company will make.
    • To the extent that as a result of a change in the provisions of the law or as a result of the fulfillment of an obligation, demand or request addressed to the Company by a competent authority, the Company will be obligated to hold and / or deposit any amounts for any transaction performed for the Client and/or if a tax, levy or payment of any obligation, whether in Israel or abroad, will be imposed on the Company in respect of the said transaction, and the Company determines that subsequently, its costs will increase in connection with the continued existence of the transaction, the Client undertakes to pay the Company, upon its first demand, an amount of compensation, as determined by the Company, which shall compensate the Company for the increase in the Company's cost and expenses.
    • It is hereby agreed that as long as the Client has not paid off all his obligations and liabilities to the Company, all funds and all assets and financials and rights that are and / or will be with the Company from time to time, including the proceeds due, or that will be due, to the Client as a result of using those assets, shall be used as additional collateral beyond the existing collateral, and they will be deposited with the company and mortgaged or encumbered in its favor, and the Client hereby expressly grants the Company a right of lien on them and a right to their set-off by the Company, for the purpose of the full settlement of all the charges and obligations of the Client towards the Company. Without derogating from the above, the Client undertakes to ensure that there is a sufficient financial balance in their account to cover all of the Client's undertakings to the Company.
    • To the extent that the execution of a particular Client order and / or transaction, in whole or in part, creates a debit balance in the account, the Company shall be entitled, but not obligated, not to carry out the instruction or order (in whole or in part), without the need to provide prior notice, and the Clients dismiss the Company from any liability for damage or loss caused to them as a result, and all without prejudice to the Company's right to take other measures to collect the said outstanding balance.
  5. Collaterals & Credit Line
    • The execution of the orders and / or transactions and / or the provision of the credit line by the Company may be conditional, prior to the execution of the operation and / or transaction, during and / or close to its closure, upon the depositing of a minimum amount as a deposit to ensure the fulfillment of the Client's obligations to the Company (the "Collateral"). The Company may also use collateral for the purpose of providing collateral to third parties and / or other entities through which the Company will execute the transactions for the Client. The collateral must be free, at all times, from any foreclosure and / or lien and / or pledge and / or mortgage and / or another right of any third party.
    • In accordance with the above, the Client undertakes, on his own initiative and without the Company having to demand, to ensure that at all times, his account will have sufficient collateral.
    • The Company may, at its sole discretion, change from time to time the collateral rate required by it in relation to the existing types of orders and / or transactions and to set required collateral rates in relation to new types of orders and / or transactions and that the Company may demand from the Client , at any time and in order to maintain a certain level of position, additional collateral of any kind and type, in the short and / or long term, at the sole discretion of the Company, and the Client hereby undertakes to immediately provide the Company with the aforementioned additional collateral, and within two business days of the Company's first demand.
    • The Company shall be permitted, but not obligated, in its sole discretion, to take all measures available to it, including but not limited to refraining from carrying out instructions for orders and / or transactions given by the Client and / or reducing the scope of the position and / or closing the position, including by buying and / or selling and / or writing an option and / or making a reverse transaction, in any case in which, at the sole discretion of the Company and / or the third parties through which the actions and / or transactions are carried out, there are not enough funds in the Client's account to carry out the orders and / or transactions and / or if the Client had not provided the full collateral, including additional collateral as stated above, as required by the Company. For the avoidance of doubt, the Company may also refrain from following the Client's instructions to perform orders and / or transactions that have not yet been performed, even if the Company has previously given its consent to their execution, and the Client hereby waives a final and absolute waiver of any claim and / or demand and/or suit against the Company due to any damage and / or loss and / loss of investment and / or loss of profits caused to it, if and to the extent that they are caused, as a result of an order to close the transaction by the Company and / or the Company's refusal to carry out the Client's provisions as aforementioned.
    • If the Client has a debit balance and the Client does not provide the Company with sufficient collateral and / or in any situation where, at the Company's sole discretion, there is exposure to risk for the Company's, the Company may realize and / or sell financial assets and / or close open positions belonging to the Client, without giving the Client notice / notification prior to the before realization, selling and / or closing the position, as the case may be, and / or refraining from allowing the client to take any action, all with the intention to offset the outstanding balance or reduce or close the Company's exposure to risk. The Client undertakes that if despite the above the Client remains in debt, he/she shall pay off the said debt immediately and within a period of time not exceeding two business days as of the Company's first demand
    • The Client warrants that that amounts deposited by the Client from time to time and which will be used as collateral shall not bear any yield, interest, linkage differences, etc., and that if the Company returns these funds to the Client it shall do so at their nominal value.
    • Subject to the provisions of the law and at its sole discretion, the Company may provide the Client with a credit line for carrying out orders and / or transactions, which will be for the amount and period as agreed upon between the Company and the Client from time to time ("the Credit Line"). The credit line shall reflect the maximum exposure in respect of the execution of the orders and / or transactions, which will be approved for the Client by the Company, including subject to the provision of appropriate collateral and the satisfaction of the Company by the Client.
    • If the Company has made such a credit line available to the Client, the Client undertakes to have his exposure rate in respect of the orders and / or transactions not exceed at any time the amount of the credit line. For the avoidance of doubt, it is clarified that this section does not, in any way, detract from the Client's obligations to the Company regarding orders and / or transactions for which the exposure exceeds the amount of the credit line and / or establish liability to the Company that the Client does not exceed the aforementioned amount.
    • Utilization of the credit line shall be calculated by the Company while taking into account changes that have applied or may apply to currency exchange rates and / or the volatility of the financial markets and / or according to the method of scenarios and / or any other method, as determined and / or amended from time to time by the Company, at its sole discretion, and / or according to any other case in which the Company believes that, inter alia, based on the Company's calculations and revaluations of the balance of the Client's contingent liabilities in respect of the actions and / or transactions, there is a concern of an increase in the Client's exposure.
    • The Company reserves the right, at its discretion, to reduce the credit line or cancel the unused balance, for whatever reason, by a 7 business days' notice or, alternatively, immediately and without giving the Client prior notice, in cases where the Company believes, at its discretion, due to the deterioration of the Client's financial situation that there is a real risk to the Company's ability to collect the amounts it is entitled to receive from the Client or with the formation of additional conditions requiring an immediate reduction or cancellation of the unutilized credit balance or in any other case permitted by law. The Company shall notify the Client of the reduction of the credit line or cancellation of the unused credit balance shortly after the reduction or cancellation has been made, as the case may be.
    • In respect of any delay in the transfer of the funds of the action performed, where the Company carried out the action at its discretion without receiving prior to its execution the action's funds and / or additional collateral as required by the company and / or the loss amount and / or outstanding balance due to the Company from the Client, and/or in respect of any delay in making a payment and/or reimbursement of expenses to the Company, the Company may charge arrears interest at the maximum rate permitted by law, as of the date on which the Client was required to make such transfer and / or payment and / or reimbursement of expenses until their actual repayment.
    • The Client hereby represents and confirms that if he/she transfers funds to the Company for the purpose of performing an order and / or transaction, but ultimately does not request to carry out the order and / or transaction, whatever the reason, he may request to receive the funds and these shall be returned to him/her, pursuant to the Company's procedure, at their nominal value only and less 0.1% of the amount.
    • For the avoidance of doubt, it is clarified that the Company does not provide credit to the Client and shall not provide him with credit of any kind.
  6. Term & Termination
  • This Agreement term and termination are subject to the term of the Framework Agreement. In addition, the Company may, at its sole discretion, terminate the contract between the parties immediately and / or reduce and / or close positions and / or reduce the credit line and / or cancel the remaining unused credit line and / or cancel the credit line altogether and / or realize all the guarantees and collateral that the Client has given to the Company, in whole or in part, and / or perform any other order and / or transaction that it deems appropriate, and charge the Client with the premiums, commissions, interest and all expenses incurred by the Company in this regard, upon the occurrence of one or more of the cases listed below ("Client Terminating Event"):
    • If the Company has discovered, in its sole discretion, that an asset against any collateral lost, or is likely to lose, a substantial portion of its value; or that there has been, or may be in the future, an adverse change in the value of the collateral.
    • If the company discovers, at any time until the date of delivery, that there have been changes in the exchange rates and / or interest rates and / or the index and / or commodity prices in such a way that the currency value of the purchase amount has changed compared to the currency value of the sale amount and / or in the value of the collateral and / or that there have been changes in the rates of any transaction in a manner in which, at the Company's sole discretion, created for the Company a risk or possibility of the formation of exposure that is not backed by collateral.
    • If the Company believes that the Client's exposure in respect of the transactions exceeds the amount of the credit line.
    • If the Company suspects of any misuse, or attempt to misuse, the Services or the Client's account.
  1. Quotes
    • The company shall quote for the client foreign exchange rates and financial assets. After receiving the Client's approval to execute the transaction, the Company shall act, at its discretion, to execute the transaction, and even contract with third parties for the purpose of executing the transaction. The Company's quotes of the prices and exchange rates and the results of the transaction shall bind the Client for all intents and purposes. The Client represents and agrees that he/she is aware that in addition to fees, payments and reimbursement of expenses, as specified above, the company may, in its sole discretion and without prior notice, charge additional and variable consideration up to 4% as part of the quotation to the Client. The Client represents that he knows that the price and / or conditions for performing an order and / or transaction (above and below: "execution rate") change all the time, and that any information the Client receives from the Company, if received, regarding any terms of order or transaction prior to their execution, does not bind the Company, except for the execution rate and the data that the Company shall notify the Client shall be final when the actual execution of the transaction and / or order takes place. The rates shall be set solely by the Company, and at its sole discretion, and shall not necessarily be the same or similar to other rates of other sources. The execution rates to be recorded in the Company's records shall bind the Client for all intents and purposes, even if different rates, including better ones, were recorded on the day of execution or purchase or realization or sale and the Client shall have no claim, assertion and / or demand against the Company in connection with the aforesaid in relation to the rate of execution and its setting.
  2. Using the services of Third Parties
    • The Client represents that he/she is aware that the transactions may be carried out through and / or with stock exchange agents and / or banks and / or brokers and / or investment companies and / or financial bodies and / or other entities, both in Israel and abroad ("the third parties"), at the sole discretion of the Company, and that in such a case, the financial assets and the above transaction documents, including the ownership documents (all of which together: "Client Property"), may be held by the third parties and not by the Company itself.
  • The Client is aware and agrees that the issuance of instructions by them does not guarantee the actual implementation of said instructions, and such execution depends on all that is stated in this Agreement along with other conditions, including conditions that are not under the Company's control, and the Client absolutely and completely waives any claim and / or demand against the Company with respect to the non-execution of an instruction and / or its partial execution, provided that the non-execution and / or partial execution as aforesaid are not the result of criminal negligence and / or malicious intent of the Company and / or anyone on its behalf.
  • The Client hereby authorizes the Company to contract with the third parties or any of them, at its sole discretion, in all matters relating to the execution of the transactions, and he/she releases the Company from any responsibility in connection with the selection of the third parties and / or the contract with them abroad and / or in Israel, and / or of liability for any damage and / or expense and / or loss of funds and / or loss caused to it, if any, due to the operations of the third parties abroad or in Israel.
  • The Client agrees that the Company will comply with the requirements and instructions of the third parties, even if these requirements and / or instructions are not brought to the Client's intention, and that the Company will comply with the instructions of various authorities, both in Israel and abroad, as applicable from time to time, even if these provisions have not been brought to the Client's intention, and in the event that the third parties or any of them liquidates and / or goes bankrupt and / or a receivership order is issued against them and / or is in a state of insolvency (all together: "third party insolvency event" ), there is a possibility that the Client will not be able to receive their property, in whole or in part, and the Client's property shall be used to settle the debts and liabilities of the relevant third parties. The Client is aware that in such a case, there is a possibility that even if the Client's property or the value thereof is not completely lost, the Client will receive only a minimal amount from the value of the property. The Client represents and agrees that the Company's liability in the event of a third party insolvency event is limited to the consideration paid by the Client to the Company within a period of 12 months. It is clarified that such consideration is limited to a period of 12 months and is not accruable.
  • The Client agrees that if a third party insolvency event occurs, the only claim the Client shall have against the Company shall be for the same amount that the Company is to receive, if and to the extent received, from third parties abroad and / or in Israel, including those who come in their stead, for the Client's property, and the Client hereby waives in advance and expressly any claim and / or demand and / or other suit that they may consequently have against the Company.
  • Notwithstanding the Company's duty of maintaining information confidentiality in connection with providing information about its Clients, provision of such information by the Company, in any of the following cases, shall not be considered a breach of its duty of confidentiality or any other obligations the Company may have towards the Client:
    • In accordance with the requirement of the Securities Authority and/or of any other competent authority, or in accordance with the provisions of any law.
    • At the request of the relevant tax authority, in Israel or abroad, any report and any information requested by it, pursuant to the information available to the Company.
  1. Limitation of Liability
    • The Client hereby releases the Company, and / or anyone on its behalf, from any liability for any damage, loss, loss of profits, expenses and payments that may be caused to them, directly or indirectly, as a result of one of the following:
      • Execution of an order and / or transaction, or any other action under this agreement, whether at the request of the Client and / or their proxy or not at the request of any of them or as a result of failure to perform an action in those cases where the company is permitted not execute an action, in whole or in part in compliance with the provisions of this Agreement.
      • Circumstances over which the Company has no control, such as inability to carry out an action and / or transaction and / or inability to close a transaction as a result of sanctions, strikes, disruptions or incidents, etc. of the Company's employees, in whole or in part, and / or third parties, or as a result of regulations, decisions, requirements or guidelines of any competent authority.
      • The Company's reasonable use of various means of communication such as: mail, telephone, e-mail, fax and / or any other method of communication and as a result of any loss, disruption, delay, misunderstanding or error due to such use; or the Company's reliance on a person who presented themselves as authorized to charge the Client even though they were not authorized to do so and / or an error in the delivery of the instruction by the Client and / or by someone on their behalf.
  • In any case where the Company and / or anyone on its behalf is held liable for any reason for such damage, loss, expense or payment, the Company shall indemnify it solely for such damage, loss, expense or direct payment, and the Company's cumulative liability shall be limited to the total sum of the fees, premiums and the payments made by the Client to the Company in respect of the action and / or transaction subject to the damage, loss, expense or payment.
  • In any case, the Company shall not bear any responsibility for damage and / or loss of funds and / or loss of property and / or prevention of profits and / or expenses of any kind, incurred by the Client for actions performed according to their instructions and / or the instructions of their proxy and / or in respect of failure to perform actions of any kind in compliance with this document, provided that such non-performance is not the result of criminal negligence and / or malicious intent by the company and / or anyone on its behalf.
  • The Client shall be liable and shall compensate and / or indemnify the Company for damages and / or losses and / or failure and / or deprivation of profits and / or expenses of any kind that incurred by the Company due to breach of their obligations under this Agreement, including reimbursement of reasonable collection expenses due to breach of the client's obligations under this agreement, including, inter alia, handling fees, reasonable investigation expenses, attorneys' fees in connection with the said collection proceedings, deliveries, as well as court and execution office fees.
  • The Client represents that he/she is aware that the Company will not insure the Client against losses.
  1. Taxation
    • Any tax, levy, witholding or other mandatory payment that applies or will apply to the transactions and / or orders performed for the Client in compliance with this agreement, in compliance with any law and / or in compliance with the provisions of a competent authority and / or in an agreement between the Company and a competent authority, shall apply to the Client and shall be paid by them. In the event that the actions and / or transactions or any part of them are subject to a legal obligation to withhold tax or to pay any other obligatory payment, the Client hereby gives a direct and irrevocable authorization to the Company to charge and / or withhold and / or pay the said amount from the Client's funds, at the appropriate value for the withholding date as required, unless the Client furnishes the Company with a certificate from the competent authority regarding the relevant exemption.
  • The Client hereby undertakes that if the Company, for any reason, does not withhold tax and / or any other mandatory payment as applicable to the Client, where it should have done so, the Client shall pay the Company immediately upon its first demand, the required withholding amount, at the value that is appropriate for the deduction date, as required.
  • The provisions of this section are general and do not present a complete and detailed picture of the applicability of the tax on the actions and / or transactions that the Client will perform using the Company under this Agreement. The Client is aware that when considering carrying out actions and / or transactions through the Company, they must consult experts regarding the consequences of the taxes, if and to the extent they exist, on the action and / or transactions they wish to carry out.
  1. Records, Recordings, and Messages
    • Client's details are stored in the System, as well as every financial operation performed, which includes, among other things, the date of the operation, the type of operation, the instruction document for performing the operation and accompanying business correspondence between the service provider and the service recipient. In the System, all the documents and instructions regarding the execution of the operation reported to the Authority and the report itself is kept. The System allows retrieval of said data for a period of at least 7 years. Company may use the services of, and disclose the relevant client's information to, third parties for KYC and AML procedures, such as compliance, liveness test, screening against persons lists etc.
  • The entries in the Company's books shall be considered correct and shall serve as ostensible proof of everything stated in them and all their details. A certificate of the Company on a copy of the above records or on any section of the said copy or on the last page of such copy or a certificate on a separate document, shall serve as proof of the existence of these records and the correctness of all details specified in the said copy.
  • The term "Company Books" means - including, inter alia, any record or copy of a record, whether printed or handwritten, including a photocopy and a computer record or by any other means, of any book, notebook, account bank statement, card, sheet, spool, any means of storing computer data as well as any other means of data storage.
  • The Company's written approval regarding the Client's commissions, expenses, and other charges shall serve as ostensible proof of what is stated therein.
  • The existence of a copy of a notice in the Company's files shall serve as alleged proof that it was sent to the Client on the date specified therein.
  • The Client hereby gives his/her consent to the fact that at the sole discretion of the Company and subject to the law, the Company may record and retain all of the Client's and / or the proxy's inquiries with the company. If the Company decides to make such a recording, any documentation presented by the Company shall constitute conclusive proof to the Client regarding the content of the said documentation. The provisions of this section do not impose on the Company any obligation to record its conversations with the Client and/or their proxy.
The Client must check the records and registration in their account and any notice and any document regarding an action and / or transaction that will be sent to him and / or delivered to him by the Company, and they must submit their comments about them, if any, in writing and within seven days of sending or delivery by the company. Failure to convey the Client's comments to the Company within the said period of time, shall be considered as giving their approval for the correctness of any detail included in a copy of such bank statement, notice or document.
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