TRADING FACILITY AGREEMENT INTERNET TRADING FACILITY

Transcription

1 TRADING FACILITY AGREEMENT INTERNET TRADING FACILITY The Facility This letter sets out the terms on which we are prepared to offer the Facility. Please read the terms carefully and ensure that you fully understand them. Trading through an electronic trading system may differ from trading through an exchange, the interbank market, ECN s, or other forms of OTC trading and electronic trading systems. 1. Our offer of the Facility shall be conditional upon all the following conditions being satisfied: In the case of a corporation: (i) Your providing us with a certified true copy of your Memorandum & Articles of Association. Chapter or constitution (Whichever is appropriate):and (ii) Your providing us with a certified true copy of corporate resolution. (b) Your furnishing us with such other information or documents as we may require for the purpose of deciding on the feasibility or suitability of our offer of the Facility. Your authorizing us (if we require) to contact such persons including any bank or financial institution as we may deem appropriate for the purpose of deciding on the feasibility of our offer of the Facility. 2. Scope Unless otherwise notified in writing to you, the terms of this letter are to apply to all forms of trading transactions with us in respect of such contracts or instruments determined at our sole discretion. The conclusion of any order placed by and/for the acceptance of any instruction from you for any contract or instrument to which the terms of this letter apply is subject to our sole discretion and is not dependent on whether you have otherwise satisfied your obligations undertaken pursuant to the terms of this letter. All contracts and instruments are entered into on the understanding and to the intent that each shall constitute an integral part of a single agreement between us and not as distinct and separate transactions. 3. Settlement All contracts and/ or instruments shall be cash settled and there shall be no delivery in any of the available contracts and/ or instruments.

2 4. Dealing and Execution In any transaction or contract, PLOTIO may trade as agents for any party or parties, and disclose your positions to the same. (b) Any order from you may be executed at any relevant market directly or indirectly through any broker, agent or correspondent without the need of notifying you. PLOTIO shall not be liable for any act, default, negligent, commission or neglect on the part of any broker, agent or correspondent. You shall observe and accept all rules and regulations, margin deposit requirements, trading facts, and time table(s) for placing/executing order(s) and / or other matters relating to the online internet trading as prescribed by PLOTIO. (d) You shall recognize that contract or instrument prices may vary from institution to institution and from second to second. Therefore, you agree to accept prices quoted by PLOTIO as the best prices then available. (e) All charges (taxes, levies, etc.) and all other related expenses in of any transactions or contract shall be borne by you who shall indemnify. (f) It is in the absolute discretion of PLOTIO to accept or decline any instructions to act in accordance upon your instructions. If PLOTIO in its absolute discretion declines or accepts your instructions, PLOTIO will not in any circumstance whatsoever be liable for any loss, loss of profit or gain, damage, liability, costs or expenses suffered or incurred by you arising out of or in connection with PLOTIO declining or accepting to act upon your instructions or omitting so to notify you. (g) It is understood that you make your judgment and decisions with respect to any transaction. PLOTIO hereby declares and you acknowledge that none of the agents, employees or representatives of PLOTIO is authorized on the behalf of PLOTIO to give any advice on trading any of the contracts of instruments to you and that if such advice is given, the same is only a personal opinion beyond the scope of authority and duty of the agents, employees or representatives concerned. You confirm and declare that you will in no event hold the person giving the advice or any other person liable for any loss resulting from your reliance upon such advice. 5. Deposits, Margin and Charges As long as your account shows open interest, that is contracts/ or instruments that has not been liquidated, you shall maintain the necessary margin required by PLOTIO shall liquidate/close any or all open positions as may be required to restore margin levels to at least but not limited to 30% of the necessary margin. You irrevocably accept that in carrying out such act(s) as aforementioned, PLOTIO owes no duty or obligation of obligation of whatever nature to you to eliminate or minimize your loss.

3 (b) At its sole discretion PLOTIO may change margin requirements at any time it deems appropriate, and shall apply to all existing and new positions. You shall agree to pay certain fees or change for all your trading (purchase or sale of contract / or instrument) transactions. 6. Closing Out Notwithstanding any provision in this letter or otherwise, you hereby irrevocably authorize us to close out any or all of your Contract(s), without prior notice to you or your agents, whenever: i) PLOTIO at our sole discretion deem it advisable for our protection; ii) You are in breach or default of any your obligations to us whether pursuant application of the terms of this letter or otherwise; iii) In our opinion your financial or business condition has materially or adversely changes since the date hereof; iv) A petition is filed or any steps are taken with a view to or which would result in your bankruptcy, winding-up or liquidation or any steps are taken with a view to or which would result in the appointment of an official assignee receiver or manager (including a judicial manager) in relation to you or your assets as the case may be; 7. Force Majeure Not with standing any provisions to the contrary in this letter, PLOTIO and it s employees, agents representatives and subsidiaries shall be exempt from liability due to or arising out of any failure (total or partial) to perform all or any of the obligations arising from or by reason of any cause beyond the control of PLOTIO. Which shall include, but not be limited to fires, storms, acts of God, riots, strikes, wars, governmental control, restrictions whether local or international, technical failure of any equipment, power failure, black-out market conditions or any other causes which result or likely to result in the behavior of market price, the closure of international and local market or any causes affecting the operation of PLOTIO and any act force majeure. 8. Warranties and Undertakings You warrant and undertaking to PLOTIO that: You posses the necessary powers and authority to comply with the terms of this letter and to perform the transactions envisages thereby;

4 (b) You have obtained and will maintain in effect all necessary consent of any governmental or other regulatory body or authority applicable to each contract or instrument and that you will comply to the terms of the same and all applicable laws, regulations and directives of such bodies as we may reasonably require, No steps have been taken or being taken to appoint a receiver official assignee and / or manager or liquidator or judicial manager over or in relation to you or your assets or with a view to your bankruptcy or winding-up. 9. Communications, Statements and Reports In the event of any dispute or difference arising between you and PLOTIO, you shall accept and agree and agree that any on-line audit and telephone communication between you or your authorized person and PLOTIO in the course of business be recorded on the recording system operated by the company or any copies or computer printouts of PLOTIO s trading records shall be conclusive truth of the proof of the contents thereof and shall be admissible in the court of law or arbitration without further or proper proof thereof. (b) All provisions hereof shall survive any change or succession in PLOTIO Business and shall be binding after the Client s death. Upon the Client s death or this representative, and if the Client is a company upon it s successor(s) and assign(s). PLOTIO may at its sole discretion close all or any of your account(s) without awaiting the appointment of a representative for the estate of the Client and without notification to such representative, if any. In the event of a Client s death or winding-up, all open contract(s) shall be deemed cancelled and PLOTIO shall not be responsible for such actions prior to the actual receipt by PLOTIO s authorized representative or executives, written notice of a Client s death or winding-up. 10. Termination PLOTIO may terminate the Facility at any time either in writing or verbally provided such termination: Does not affect the rights or liabilities in respect of transactions for which an instruction or order has already been given by you or in respect of which there is an outstanding liability and shall without prejudice to PLOTIO s right against you until such time all outstanding liabilities have been discharged. (b) Shall not affect any warranties, undertakings and indemnities given by you under or arising as a consequence of the terms of this letter applying, which shall survive such termination

5 11. Governing Law and Submission to Jurisdiction This agreement and all right, obligations and liabilities to which this letter applies shall be governed by and construed in accordance with the laws of the Hong Kong. In the case of dispute between the client and PLOTIO such dispute shall be resolved through binding arbitration using the rules and laws of the Hong Kong. The sole venue having over any such dispute shall be at the sole discretion of PLOTIO. The Client / Company agrees no court action shall be brought. 12. Variation You may be notified in writing and shall agree that we may vary the terms herein from time to time and such varied terms shall thereafter apply to all Contracts and / or Instruments entered into after the date of notification of such variation. 13. Definition In this letter, unless the context requires otherwise: Contract means any contract, spot, deferred spot or CFD s entered into from to time to time between you and PLOTIO for purchase of precious metals or any other financial instrument. (b) Close Out here in this letter means for the purchase of a particular of a Contract, and to enter into an offsetting Contract for the sale of the same amount and type of Contract or instrument, and for the sale of a particular Contract, and to enter into an offsetting Contract for the purchase of the same amount and type of Contract or instrument, and Closing Out shall be construed accordingly. Trading Limit means the value of the total amount payable by you under all Contracts. 14. Electronic Trading Trading on an electronic trading system may differ from trading through an exchange. If you undertake transactions on an electronic system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of system failure may be that your order is either not executed according to your instruction or is not executed at all. (b) Some fault may happen to the electronic trading system and some wrong price may appear on it, in this case, PLOTIO has no responsibility to the successful trading results occur at this price. You agree this absolutely.

6 Disclaimers (i) Internet failures: Since PLOTIO does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for the communications, failures or delays when you trade on-line (via Internet). (ii) Password Protection: You are obliged to keep your password secret and ensure that third parties do not obtain access to the trading facilities. You will be liable to PLOTIO for trades executed by means of your password even if such use is wrongful. (iii) Quoting Error: Should quoting error result in a mistype, such as but not limited to a wrong big figure quote. PLOTIO will not be liable for the errors resulting in the account balances. PLOTIO reserves the right to make necessary changes and / or adjustments on the account involved. 15. Commission Agent or Representative Where applicable you acknowledge and agree that the person or entity whom you have introduced to us and authorized by you to perform the sale or purchase of trading Contracts on your behalf is your Commission Agent or Representative, and that PLOTIO is in no way responsible for his/her/their actions or any warranties or representations he/she/they may have added whether expressly on our behalf or not, and that pursuant to his/her/their having introduce you to PLOTIO. PLOTIO will not be liable or responsible if your agent or representative abuses the authority that you may have conferred on him/her/them. This will be regarded as a private matter between you and your agent or representative. You further acknowledge that for our own protection and commercial purpose, you are aware of the terms of the trading agreement between the commission agent or representative and PLOTIO where the commission agent or representative is to trade for you. In the event of conflicts between the English version and the Chinese version of this Agreement, the English version prevails.