ACCOUNT TYPES. You understand that you are responsible for selecting the Account type (e.g., Individual Joint Corporate), that is appropriate for your investment criteria.
ACCOUNT STATUS. Strathaven Holdings Limited (SHL) agrees to accept and maintain for the undersigned Account Holder(s) one or more Accounts and to act as broker dealer for Account Holder(s) in the execution and clearance of orders for transactions involving the purchase and sale of financial securities. The Account Holder(s) hereby confirms that all responses made in connection with the
Account Agreement are complete and correct, and that SHL will be informed of any material change in such data, including financial information. Account Holder(s) warrants to SHL that if Account Holder is an individual or if this is a Joint Account, Account Holder is of legal age and of sound mind. Unless otherwise indicated in the Account Holder’s Application no one except the Account Holder(s) identified in the Account Application has an interest in the Account(s). Account Holder(s) agrees to permit verification of relevant information by SHL through third parties (including credit reporting entities). In any event, this Account Holder’s Agreement and the Account(s) permitted hereunder become effective only upon acceptance by an authorized representative of SHL at its principal office.
ACCURACY OF NEW ACCOUNT APPLICATION AND CREDIT INFORMATION. The information that you have provided SHL is current, accurate, truthful and complete. No one except the person(s) listed on the Account Application (Form) has any interest in the Account being applied for.
IDENTITY VERIFICATION FOR ANTI-MONEY LAUNDERING PURPOSES. We are required by law to verify the identity of each Account owner. SHL requires you to provide 1 valid form of government issued identification upon submission of your Account Application form.
APPROVAL OF TRANSACTIONS. All transactions as agreed to with your Investment Representative are deemed to be final. All transactions receive the approval of a Compliance Officer and consent of the Account Holder prior to being processed.
RISKS. You are aware that all investments involve risk. In particular, investments in speculative securities and initial public offerings may entail an increased risk of loss and may not be suitable for all investors. Investments can result in the loss of all capital invested. Additionally, the past performance of a security does not guarantee future results or returns. You understand that all orders entered by you are based upon your investment decisions and are your sole responsibility and you will not hold nor seek to hold any of our officers, directors, employees, agents, subsidiaries or affiliates liable for any trading losses or other losses incurred by you.
COMMISSIONS, FEES & OTHER COSTS. Account Holder(s) agrees to pay all commissions, fees and other costs charged by SHL. Furthermore, SHL is authorized to convert funds in Account Holder’s Account(s) into and from the relevant foreign currency at the rate of exchange plus appropriate fees incurred by SHL.
TAPE RECORDING. You hereby authorize SHL to record telephone conversations between Account Holder(s) and SHL regardless of whether a periodic tone signal is used. You consent to the use of such tape recording in any forum in connection with resolving any disputes.
EXCHANGE RULES. All transactions handled by SHL on the Account Holder’s behalf shall be subject to the constitution regulations, customs and interpretations of each exchange or market (and its clearing house if any), on which the trades are executed and to all applicable international governmental regulations. SHL shall not be liable to the Account Holder(s) as a result of any action taken by SHL to comply with such rules.
PROCEEDS OF TRANSACTIONS. No Proceeds from the sale of any shares through any transaction will be remitted to the Account Holder(s) if there is any outstanding debit balance within the Account. Any shares liquidated or sold resulting in proceeds from the said sale of shares will be utilized to reduce or eliminate any outstanding margin balances a client’s Account may have.
CONSENT TO JURISDICTION. Accounts Holder(s) agree that all dispute claims, actions or proceedings arising directly, indirectly or otherwise in connection with or without or related to, or from this Agreement shall be arbitrated only in an arbitration forum agreed with the SHL Account Holder(s) consent and submits to the jurisdiction of any international court.
AMENDMENTS AND GUARANTEES. This Agreement reflects the entire agreement between SHL and the Account Holder(s) and supersedes all prior oral and written agreement between the parties relating to the subject matter hereof and no provisions hereof shall in any respect be waived augmented or modified by any other party unless in writing and signed by an official authorized at SHL headquarters. No one (including SHL’s, Associated Persons introducing Brokers, Fund Managers, Commodity Trading Advisors or Pool Operations) can guarantee profits in the absence of losses. Account Holder(s) agrees to promptly notify the SHL Compliance Department if any such guarantee is suggested.
MARGIN. The Account Holder(s) acknowledges that he/she is borrowing money from the value of the securities that are held within his/her Account and that Account Holder(s) understands the requirements and risks associated with a margin position.
PURCHASES AND SALES. To execute purchase orders. SHL generally requires that your Account has available funds equal to or greater than the purchase price of the securities. To execute sell orders, SHL generally requires that securities belong in the Account Holder’s Account. Account Holder(s) agree that any purchase or sell order accepted (inadvertently or otherwise) by SHL without sufficient funds or negotiable securities, respectively, in your Account, will be subject to liquidation in the case of a purchase order, or buy in the case of a sell order, at the Account Holder’s expense. In the event that full funds are not available in Account Holder’s Account when a purchase order is executed, the Account Holder(s) promises to pay the full amount due SHL’s preferred method of payment on or before settlement date for the purchases. In the event a sale order is executed and the securities sold are not in the Account Holder’s
Account, Account Holder(s) promises to deliver all securities sold on or before settlement date. If such funds or securities are not received on or before the settlement date, SHL may liquidate Account Holder’s Account and Account Holder(s) will be liable for any resulting losses and all associated costs that could be incurred by SHL.
VERBAL AUTHORIZATION. SHL may execute any transaction upon verbal authorization by the Account Holder(s) on any market (public or private) where such business is transacted. Account Holder(s) understands that SHL does not provide Account Holder(s) with direct access to the marketplace. Account Holder(s) understands, whether Account Holder(s) places an order, Account Holder(s) will receive the price at which the order is quoted to Account Holder(s). However, particularly during periods of high volume, liquidity, fast movement or volatility in the marketplace or the placement of large orders, the execution price Account Holder(s) receives may differ from the quote published at the time of order entry and Account Holder(s) may receive partial executions at different prices.
REPORTS AND NOTICES. Should inaccuracies or discrepancies appear on an Account Holder’s statement of account, the Account Holder(s) agrees that it is the Account Holder’s responsibility to inform, whether by telephone or email immediately upon receipt of the statement. All reports of inaccuracies must be made to SHL within 48 hours. If the Account Holder(s) does not respond immediately, executed orders and statement reports shall be considered accurate, in doing this, SHL relieves itself of all responsibility. Account Holder(s) has the responsibility to maintain contact with SHL at all times that Account Holder(s) has market positions or has placed orders but is not available at Account Holder’s regular address or telephone number to receive reports. Details of trades and any other similar information or notices sent to Account Holder(s) shall be conclusive and binding.
DEBIT BALANCES. All monies, securities, negotiable instruments, open positions in contracts, options premiums, commodities or other property now or at any future time on deposit or in safekeeping with SHL shall constitute as security for an Account Holder’s obligations hereunder and Account Holder(s) grants SHL, the right to sell or use such security to offset and credit any of those obligations not promptly paid. Account Holder(s) understands that Account Holder is liable to SHL for any deficit (“debit”) balance in the Account(s) remaining after any such offset. If Account Holder(s) does not promptly pay a debit in Account Holder’s account(s) and SHL deems it necessary to take collection action, Account Holder(s) will hold SHL harmless for all losses and expenses and will be accountable or liable to SHL for the debit and all costs incurred, including reasonable attorney’s fees in connection with such collection actions.
SIGNED DOCUMENTATION. SHL requires that all Account Holders have an original Account Holder’s Agreement with original signatures on the file with the Accounts Department. However, at the sole discretion of SHL, documents signed and transmitted by email may be accepted as original documents. The signature of any person or entity thereon, is to be considered as an original signature and the documents transmitted is to be considered as an original signature and the document transmitted is to be considered to have the same.
I Hereby Acknowledge That I Have Read and Understand This Agreement Statement.
For the purposes of this Online Account Opening & Agreement Form, by entering my full name where required below, I acknowledge that I have received and read a copy of the attached Account Agreement. I acknowledge that this Account and my relationship with SHL will be governed by the Account Agreement and all incorporated agreements and disclosures, including but not limited to the Account Agreement. I understand that there are fees associated with establishing, maintaining, engaging in transactions and transferring assets out of this Account. I also acknowledge that if I trade “on margin”, I am borrowing money from the value of the securities that are held within my Account and that I understand the requirements and risks associated with a margin. I also acknowledge that SHL is relying on this information in approving my Account and extending my credit and that all such information is true and correct.
