AOA Page 1 AOA Page 2 Mr. /Ms. /M/s. _______________________________ Age: ________ years, Occupation:________________ Residing/Office at: ____________________________ ________________________________________________ PUNE – 411 PAN No.: _______________________________ The person/s specified as the “CLIENT”, (Hereinafter called the “CLIENT” (which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include (if the CLIENT is individual) his/her heirs, executors, administrators and legal representatives and permitted assigns; (if the CLIENT is a Partnership Firm), the partners for the time being of the said firm, the survivor or survivors of them and their respective heirs, executors, administrators and legal representatives/its successors and permitted assigns; (where the CLIENT is a WGC or a body corporate) its successors and permitted assigns; (where the CLIENT is the Karta of a Hindu Undivided Family), the members for the time being of the said Hindu Undivided Family and their respective heirs, executors, administrators and assigns; (where the CLIENT is the Trust), the principal trustee or the board of trustees or the trustees or person authorized by the Board of Trustees for the time being and from time to time (where the CLIENT is the governing body of a society), the respective successors of the members of the governing body for the time being and from time to time and any new members elected or appointed) of the OTHER PART… Parties mean WGC and the CLIENT; and Party shall be construed accordingly. AOA Page 3 WHEREAS: 1. WGC is engaged in the business of FOREX TRADING, EDUCATION SERVICES and SOFTWARE PROJECTS. 2. The CLIENT is desirous of obtaining Investment Advisory Services from WGC. 3. The CLIENT has satisfied itself that WGC possesses requisite level of knowledge and competence to provide Investment Advisory Services. 4. WGC has satisfied and shall continuously satisfy itself about the genuineness and financial soundness of the CLIENT and investment objectives relevant to the Investment Services Advisory to be provided. 5. WGC has taken steps and shall take steps to make the CLIENT aware of the precise nature of WGC’s liability for business to be conducted including any limitations on that liability under the capacity in which it acts. 6. The CLIENT appoints WGC as an Investment Advisor subject to the terms and conditions detailed herein: 1. INTRODUCTION This Agreement, as well as any legally binding document entered into between WGC and the CLIENT, all as amended from time to time (together: the “Agreement”), set out the terms upon which AOA Page 4 WGC will deal with the CLIENT in respect to placing and executing foreign exchange rates and other financial instrument transactions orders, on WGC’s trading platform (“FOREX TRADING”), and any other valuable service made available by WGC to the CLIENT (the “Services”). 2. FUNDS i. WGC has as and by way of security of the principal amount, issued to the CLIENT, Ch.No./Demand Draft No. _______________________, dated _________________ drawn on __________________________ Bank, ____________________________ (Rupees Only). security Branch, for Rs. XXXX/- The CLIENT agrees to deposit the said cheque/demand draft with his banker/s for realization only after written consent from WGC. ii. The lock-in period for the funds amount to be withdrawn by the CLIENT is 180 days i.e six months. At any point of time, funds amount cannot be withdrawn by the CLIENT before the said lock-in period. At the time of funds amount being withdrawn by the CLIENT, the CLIENT shall surrender this AGREEMENT in original and the security cheque issued by WGC. iii. The commission rate/benefit is mutually agreed between WGC and the CLIENT and is fixed at the rate of X.X% per month of the total funds amount invested with WGC. iv. WGC shall be at liberty to utilize the funds for the full term for any business mentioned here above. WGC shall also be AOA Page 5 at liberty to refund/repay the funds before the expiry of the term at its own will and the CLIENT shall not raise any objection/dispute thereon. v. WGC shall have privilege to assess the market trend and in the event of any change in the Government Policies/Natural Calamities or any other event beyond the control of humans and economic recession/crunch in economic conditions and depending on such assessment, WGC shall have right to proportionately reduce the risk and have absolute discretion to revise the benefits payable to the CLIENT and of terms of this Agreement. vi. The CLIENT shall always have an option to accept the offer of WGC as mentioned in the above clause OR terminate this Agreement subject to the lock-in period and in such event; WGC shall repay the funds amount so invested to the CLIENT. vii. The CLIENT shall only be concerned with the regular payment of commission rate/benefit as agreed hereinabove and shall not be concerned for the funds invested by WGC, save and except the business profile of WGC. viii. WGC shall keep informed the CLIENT in the event of change of address (if any) of WGC at all times. ix. The CLIENT shall not be concerned with the constitution of Proprietorship/Partnership of WGC. AOA Page 6 x. The Funds deposited with WGC by the CLIENT, together with any profit or other benefits, the CLIENT may be entitled to according to a specific Agreement with WGC, shall be used as security to any Transaction, including Trading Losses, Commission and any other Fee or debt owed by the CLIENT to WGC, which will be automatically deducted from the CLIENT's equity in the Trading Account. The CLIENT's Funds shall not accumulate any interest or any other benefits (except for rollover/swap calculation, as defined below). Trading in CFD's, binary options or other trading methods that relate to a reference security shall not grant the CLIENT any right to dividends, voting, allocations or any other Benefits, but may be subject to adjustments according to financial events which affect the reference security, such as distribution of dividends, splits etc. xi. The CLIENT may transfer funds to WGC with different methods of payment as permitted by WGC from time to time and in any currency (acceptable by WGC), and such funds will be converted and managed in the Trading Platform in US Dollars or Euro, as applicable, according to an exchange rate determined by WGC's according to the known rates at the Market. xii. When making a bank transfer, the CLIENT must send WGC an authentic SWIFT confirmation, stating full bank account details and proof that the bank account is registered under its name. Non-delivery of the SWIFT confirmation or the details not conforming to the CLIENT's details registered at WGC may result in the funds not being credited to the AOA Page 7 CLIENT’s Trading Account and the return of the funds transferred to WGC. xiii. When making a funds transfer to WGC by cheque or any other method permitted by WGC in accordance with Applicable Regulations, the CLIENT will be required to identify itself according to WGC’s regulations and any Applicable Regulations. WGC does not accept transfers of cash. The CLIENT is required to provide such further full and true information and sign any document required by WGC to enable proper operation of the Trading Account. xiv. Whenever the CLIENT transfers funds to WGC, those funds belong to WGC and will be treated by it as its own for the purpose of securing or covering the CLIENT's present, future, actual, contingent or prospective obligations, subject only to any contractual obligation of WGC to pay or return money to the CLIENT according to the terms of this Agreement. The CLIENT will not have a proprietary claim over money transferred to WGC, and WGC can deal with it in its own right. In determining the amount of collateral and the amount of WGC's obligations to pay or return money to the CLIENT, WGC may apply such methodology (including judgments as to the future movement of markets and values), as WGC considers appropriate. xv. Repayment of any funds by WGC to the CLIENT will be in the same currency and to the same account/credit card from which the funds were originally transferred, unless WGC has decided, by its own discretion, to return the funds to a different account of the CLIENT. AOA Page 8 xvi. The CLIENT declares that all funds that it transfers to WGC do not derive from any criminal or other illegal activity and without any violation of any applicable anti money laundering laws and regulations. xvii. The CLIENT will have no claim against WGC and will not hold WGC responsible for any delay and/or differences originating from a credit WGC's rates calculation and/or commission and/or any other debit, including credit companies’ identification regulations and any other demand. In addition, the CLIENT will have no claim against WGC and will not hold WGC responsible for any delay and/or differences and/or any commission etc. originating from banking system. xviii. If the CLIENT gives an instruction to withdraw funds from the Trading Account, WGC shall pay the specified amount (less any transfer charges, if applicable) within Seven (7) Business Days once a duly instruction has been accepted and at the moment of payment, the CLIENT’s margin requirements have been met. WGC may cancel the CLIENT withdrawal order, if, according to WGC's discretion, the remaining funds (after the withdrawal) shall not be sufficient to secure open Position(s) in the Trading Account. xix. WGC shall debit the CLIENT’s Trading Account for all payment charges. If the CLIENT has the obligation to pay any amount to WGC which exceeds the amount held in the CLIENT’s Trading Account, the CLIENT shall immediately pay such amount upon WGC's request. AOA Page 9 xx. WGC shall not provide physical delivery in relation to any transaction. As mentioned above, profit or loss is credited to or debited to or from the Trading Account (as applicable) once the Transaction is closed. 3. FEES & CHARGES i. WGC does not charge brokerage fees or commissions for executing trades. WGC derives revenue from the spread on Transactions (i.e. the difference between buy/sell prices quotes offered by the Trading Platform to the CLIENT). It is the CLIENT’s responsibility to decide whether or not it wishes to trade at such prices. ii. WGC charges a fee for transfers of funds standing to the credit of a Trading Account from WGC to the CLIENT at its prevailing transfer rate, and this amount will be a deducted from the CLIENT’s Trading Account. iii. WGC may levy an additional charge(s) on transfers of funds to be credited to a Trading Account made by debit card or credit card. iv. WGC may introduce additional fees and charges, and may change any existing fees and charges, at any time by giving the CLIENT not less than 10 Business Days' notice of such changes. 4. TRADING AOA Page 10 i. The Trading Platform supplied by WGC enables trading in foreign exchange rates of different currencies, commodities, CFD's and any other financial instruments made available by WGC (all hereof: "Financial Instruments"). The Trading Platform displays Indicative Quotes of exchange rates of different financial instruments pairs, based on different financial information systems, as the most updated exchange rates in the international FOREX markets. For determining the exchange rates for different time periods, the platform is making mathematical calculations according to known and accepted FOREX markets formulas. It is acknowledged by both Parties that due to different calculation methods and other circumstances, different trading platform and/or markets may display different price quotes. ii. WGC's Trading Services are available during regular FOREX trading hours, Monday-Friday. Transactions are automatically renewed (“rolled over”) from the day the transaction is opened until the transaction is closed. iii. A Trade is ended in any of these events: (A) the CLIENT closes the transaction; (B) The transaction meets with stop loss, take profit or other predefined criteria set by the CLIENT or WGC under this Agreement; (C) the Transaction expires according to the expiration time set by the CLIENT or WGC, if applicable; (D) The CLIENT does not have sufficient funds in their Trading Account to hold that transaction open. AOA Page 11 iv. WGC does warrant that trading in the Trading Account will be available at all times. 5. PLACING ORDERS a) Orders may be submitted to WGC by WGC's electronic Trading Platform via the internet, or by Email, fax or telephone, unless WGC informs the CLIENT that particular orders can only be given in a particular way. If any order is received by WGC by telephone, computer or other way, WGC may ask the CLIENT to confirm such order in writing. WGC shall be under no obligation to act upon such order until such confirmation is received. Orders for the simultaneous sale and purchase of a financial instrument on behalf of the same beneficial owner may not be given under this Agreement (one shall cancel another). b) The CLIENT authorizes WGC to rely and act on any order, request, instruction or other communication given or made (or purporting to be given or made) by the CLIENT or any person authorized on the CLIENT's behalf, without further enquiry on the part of WGC as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request, instruction or other communication. The CLIENT will be responsible for and will be bound by all obligations entered into or assumed by WGC on behalf of the CLIENT in consequence of or in connection with such orders, requests, instructions or other communication. AOA Page 12 6. CANCELLATION/WITHDRAWAL OF ORDERS BY THE CLIENT i. If the CLIENT requests cancellation of any order, WGC can only cancel such order if WGC has not acted upon such order, or if otherwise agreed by WGC. ii. WGC has the right, but not the obligation, to set, at its absolute discretion, limits and/or parameters to control the CLIENT's ability to place orders or to restrict the terms on which a Transaction may be made. Such limits and/or parameters may be amended, increased, decreased, removed or added to by WGC and may include (without limitation): (i) controls over maximum order amounts and maximum order sizes; (ii) controls over total exposure of WGC to the CLIENT; (iii) controls over prices at which orders may be submitted (including, (without limitation, controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to WGC’s order book); (iv) controls over any electronic services provided by WGC to the CLIENT (including ,without limitation, any verification procedures to ensure that any particular order or orders has come from the CLIENT); or (v) any other limits, parameters or controls which WGC may be required to implement in accordance with Applicable Regulations. WGC may in addition require the CLIENT to limit the number of open Transactions which the CLIENT may have with WGC at any time. WGC shall notify the CLIENT of the limits and restrictions applicable prior to CLIENT placing an order. iii. WGC does not allow actions or non-actions based on arbitrage calculations based on different systems or platforms in the FOREX markets. AOA Page 13 iv. WGC is entitled, by its own discretion, to cancel any trade that has been executed due or in connection with an error, system malfunction, breach of the Agreement by CLIENT, etc. WGC's record will serve as decisive evidence to the correct exchange rates in the world markets and the wrong rate quote given to the CLIENT, and WGC is entitled to correct or cancel any trade based on the correct exchange rates. v. Trade Reporting- CLIENT can see his open trades ("positions") and guarantee funds situation at any time by accessing his Trading Account in WGC's platform and viewing past trade's reports generated by WGC. vi. Promotional Offers and Benefits - WGC may, from time to time and upon a specific agreement with CLIENT, credit benefits or bonus amounts to a Trading Account and a CLIENT will be entitled to use such amounts to make trades and satisfy any margin requirements under this Agreement, but will not belong to the CLIENT and will could be withdrawn from the Trading Account, unless specifically agreed with Company. 7. PRIVACY AND DATA PROTECTION i. Due to the nature of WGC's business and relations with the CLIENT, WGC shall hold some personal CLIENT information. All data collected, whether it is on paper or on a computer is safeguarded in order to maintain the CLIENT Privacy. AOA Page 14 ii. WGC shall be permitted to use and/or disclose the CLIENT Information (a) For internal use, including with affiliated entities; (b) As permitted or required by law; (c) For protection against or prevent actual or potential fraud or unauthorized transactions or behavior (d) For computerized supervision of CLIENT's use of the Services, review and/or supervision and/or development and/or maintenance of the quality of Services; (e) to protect WGC's rights or obligation to observe any applicable law. iii. The CLIENT hereby grants WGC his/her permission to make use of his/her user details in order to provide updates and/or information and/or promotion or marketing purposes through the CLIENTs e-mail address or other contact information. Cancellation of this consent shall be performed by providing written notice to WGC, and shall apply to new publications that have not been sent. iv. The CLIENT agrees that WGC may record all conversations with the CLIENT and monitor (and maintain a record of) all emails sent by or to WGC. All such records are WGC’s property and can be used by WGC, amongst other things, in the case of a dispute between WGC and the CLIENT. v. Affiliation- WGC may share commissions and charges with its associates, introducing brokers or other third parties or receive remuneration from them in respect of contracts entered into by WGC. Such affiliates of WGC may be disclosed with CLIENT’s information. AOA Page 15 vi. WGC's Trading Platform, Website or other Services may require and use of 'Cookies'. 8. ADVICE, INFORMATION & TAX i. WGC does not advise its CLIENTs in regard to the expected profitability of any trading action or non-action, and any tax or other consequences. The CLIENT represents that it has been solely responsible for making its own independent appraisal and investigations into the risks of the Transaction. The CLIENT represents that it has sufficient knowledge, market sophistication and experience to make its own evaluation of the merits and risks of any Transaction. The CLIENT acknowledges that he has read and understood the Risk Disclosure Document which sets out the nature and risks of Transactions to which this Agreement relates. ii. Where WGC does provide market commentary or other information: (a) this is incidental to the CLIENT’s relationship with WGC. (b) It is provided solely to enable the CLIENT to make its own investment decisions; (c) that the information, at the time it has been received by CLIENT, is still updated. iii. WGC shall not be responsible for the consequences of the CLIENT acting upon such trading recommendations, market commentary or other information. iv. The CLIENT acknowledges that WGC shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by AOA Page 16 the CLIENT arising from any inaccuracy or mistake in any information given to the CLIENT. v. WGC is under no obligation to assess the appropriateness of any Transaction for a CLIENT under the Applicable Regulations, to assess whether or not the CLIENT has the necessary knowledge and experience to understand the nature of and risks associated with the Transactions. All risks related to the above are under the sole responsibility of the CLIENT. vi. Trader's Tax Allocations - Any tax applying on the CLIENT and/or results from the CLIENT's trading activity, including trading profits and/or trading losses and/or any charges and/or deductions made from the CLIENT's Deposit or CLIENT's Equity, shall be under the CLIENT's full and sole responsibility. The CLIENT shall personally report and pay any personal, federal, state and local tax liability he is obligated to, if applied. WGC serves as a mediator only and does not collect deduct, pay or withhold tax from the CLIENT. WGC reserves the right, if ordered by an official entity, to deduct tax from the CLIENT and deliver it to the proper tax authority as ordered by the official entity. 9. CLOSING AN ACCOUNT AND CANCELLATION OF THE AGREEMENT i. Either party may terminate this Agreement by giving 10 (Ten) days written notice of termination to the other subject to the lock-in period mentioned above in Clause No. 3 (ii). Upon AOA Page 17 terminating notice of this Agreement, CLIENT shall be under the obligation to close all open positions, otherwise, the notice shall become void, or WGC shall have the right to close all open positions without assuming any responsibility. ii. Upon termination, all amounts payable by either party to the other party will become immediately due. iii. Termination shall not affect any outstanding rights and obligations according to the applicable law and the provisions of this Agreement. 10. INDEMNITIES & LIMITATIONS OF LIABILITY i. THE SERVICES OF WGC ARE PROVIDED "AS IS" AND "AS AVAILABLE", AND COMPANY MAKES NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE. WGC DOES NOT WARRANT THAT COMPANY WEBSITE(S), SERVERS, OR EMAIL COMMUNICATION ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. WGC WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF TRADING PLATFORM OR WEBSITE(S), INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES. ii. CLIENT acknowledges and agrees that the Trading Platform follows the relevant market, whether the CLIENT is in front of his computer or not, and whether the CLIENTs computer AOA Page 18 is switched on or not, and will exercise the order left by the CLIENT if applicable. iii. The CLIENT shall, upon first demand by WGC, compensate WGC from and against all liabilities, damages, losses and costs (including reasonable legal costs), duties, taxes, charges, commissions or other expenses incurred by WGC. iv. WGC shall have the right to set-off any amount owed by WGC to the CLIENT, against any debt or other obligation of the CLIENT towards WGC. In any event of Default of CLIENT (voluntary or involuntary insolvency procedures against the CLIENT) all debts, future debts and other obligations of the CLIENT towards WGC shall become immediately due. 11. GENERAL PROVISIONS i. WGC has the right to amend the Agreement without obtaining any prior consent from the CLIENT. If WGC makes any material change to the Agreement, it will give at least 10 (Ten) Business Days' notice of such change to the CLIENT. Such amendment will become effective on the date specified in the notice. Unless otherwise agreed, an amendment will not affect any outstanding order or Transaction or any legal rights or obligations which may already have arisen. ii. Partial invalidity - If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of AOA Page 19 such provision under the law of any other jurisdiction shall in any way be affected or impaired. iii. Joint Trading Account- If the Trading Account is a joint Account (on the name of more than one entity), and then each of the entities in the Account shall be authorized to represent the other entities towards WGC, with no requirement of any prior notice or approval from the other entities. Each of the entities in the Trading Account agrees that any notice or instruction given by WGC to any of the entities shall be considered as given to all the entities. In case of contradiction between instructions given to WGC by different entities, then the last instruction received by WGC will prevail. iv. Language, Notices and Complaints - All communications between WGC and the CLIENT will be in English or in any Language, suitable both to the CLIENT and WGC. v. Unless otherwise agreed, all notices, instructions and other communications to be given by WGC shall be given to the address or fax number provided by the CLIENT, or via e-mail or other electronic means, details of which are provided by the CLIENT to WGC. Any complaint shall be directed to WGC's CLIENT services department, who will investigate the complaint and make every effort to resolve it. vi. Governing Law- These Terms and any relationship between WGC and the CLIENT shall be governed by law applicable in the Republic of India and subject to the exclusive jurisdiction of the Republic of India courts. WGC shall have AOA Page 20 the right, in order to collect funds owed to WGC by CLIENT or to protect WGC's rights such as good-name, intellectual property, privacy etc., to immediately bring legal proceedings against CLIENT, in the CLIENT's residency and according to the CLIENT's residency applicable law. vii. No Right to Assign- No rights under this Agreement shall be assignable nor any duties assumed by another party except to/by an affiliate of WGC. Upon assignment to an Affiliate of WGC, the terms of this Agreement may be amended to fit any applicable regulation effective upon the assignee, and CLIENT hereby consent in advance to such regulatory modifications to this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors heirs of the CLIENT. viii. Dormant Trading- If the CLIENT will not perform any trading activity or his trading activity will be in very low volume, for the time period defined by WGC, or if the CLIENT does hold minimum funds in his Trading Account, defined by WGC, WGC may charge the Trading Account with Dormant Trading commission, at a rate to be determined by WGC from time to time. IN WITNESS WHEREOF, THE PARTIES HAVE SIGNED THIS AGREEMENT AS OF THE DATE HEREOF. CLIENT -------------- AOA WGC ----------------------------- Page 21 RECEIPT Received from the CLIENT, M/s. / Mr. /Ms. ______________________________ an amount of Rs. _______________________/- (Rupees ________________________________________Only) by cash / cheque / net banking of ___________________________________Bank, Branch ________________________, dated ____________________________, cheque / transaction no. _________________, by WGC. For M/s. WEALTH GLOBAL CONSULTANCY AUTHORIZED SIGNATORY I say, I received Rs. ________________________/- (Rupees ___________________________________Only) AOA Page 22 ANNEXURE WGC shall make the payment of commission amount as described in Clause 3 (iii) of this Agreement dated ____________________ in the following manner: S.NO. CHEQUE DATE NO. AMOUNT BANK BRANCH (Rs.) 1 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- 2 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- 3 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- 4 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- 5 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- 6 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- 7 XXXXXX ??/??/2014 RS.XXXX/- ---------- ----------- SIGNED AND SEALED BY WGC SIGNED AND SEALED BY THE CLIENT M/s. WEALTH GLOBAL CONSULTANCY M/s. / Mr. / Ms. ____________________ AUTHORIZED SIGNATORY _____________________________________ AOA Page 23
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