31. Miscellaneous

31.1 Our appointment under this Agreement is given by you on behalf of your successors in title as well as yourself. Accordingly, if you being an individual should die and are not one of a number of joint holders as contemplated in clause 28 of this Agreement will continue in effect until terminated by us or your personal representatives in accordance with clause 12 or 25. We may (but prior to any grant of representation are not bound to) act on the instructions of your personal representatives.

31.2 This Agreement supersedes any previous agreement between the parties relating to the subject matter of this Agreement.

31.3 Each of the parties shall execute all deeds or documents (including any power of attorney) and do all such other things that may be required from time to time for the purpose of giving effect to this Agreement and the transactions contemplated hereby.

31.4 Each of the parties acknowledges and agrees that in entering into this Agreement, and the documents referred to in it, it does not rely on, and shall have no remedy in respect of, any statement, representation, warranty or understanding (whether negligently or innocently made) of any person (whether party to this Agreement or not) other than as expressly set out in this Agreement.

31.5 Nothing in this Agreement (or any of the arrangements contemplated hereby) shall be deemed to create a partnership between the parties.

31.6 Each of the parties shall pay the costs and expenses incurred by it in connection with negotiating and entering into this Agreement.

31.7 No failure to exercise or delay in exercising any right or remedy under this Agreement shall constitute a waiver thereof and no single or partial exercise of any right or remedy under this Agreement shall preclude or restrict any further exercise of such right or remedy. The rights and remedies contained in this Agreement are cumulative and not exclusive of any rights and remedies provided by law.

31.8 You agree to pay any amount payable in respect of any transaction executed with or through us on the due date regardless of any right of equity, set-off or counterclaim which you may have or allege against any of us or any Associate of ours or other person connected with us.

31.9 You authorise us to perform various actions in the account in accordance with the Relationship Manager’s instructions. If required by us (but we shall not be obliged) you will ensure that you sign such documentation as we may request in order to confirm any appointment of a third party as power of attorney.

31.10 We may (at our discretion) require additional documentation and information from you from time to time including without limit account details and evidence of identification. You agree to provide such information forthwith upon request. You agree that we shall (at our discretion) suspend your account and our obligations pending receipt.

30. Special Accounts for Religious Purposes

30.1 Islamic Accounts

It is clarified that an Islamic account (account which is not charged with premiums and/or rollovers and/or interest) is a benefit given solely for religious reasons to a person who is Islamic and cannot receive or pay interest due to his religion. It is strictly forbidden to abuse this benefit in any manner whatsoever or to use it in any manner except as foresaid. We reserve the right to cancel the aforesaid benefit at any time and take any actions necessary such as cancelling client transactions, adjusting client account balances etc, which might be required in our absolute discretion.

30.2 Jewish Accounts

For clients of the Jewish faith, this Agreement has been made in accordance with the terms of a religious transactional permit (Heter Iska) prepared and authorised in accordance with Jewish religious instructions (Halacha), the original of which is located at our offices and a copy of which can be provided upon request.

29. Distant Selling

29.1 In accordance with the distance selling of the FCA Rules: this Agreement is subject to the following disclosures:

29.1.1 The Provider is a trading name of Finotec. Finotec (Company Number 06039502) is authorised and regulated by the Financial Conduct Authority. Our registered office is at 35 Ballards Lane London N3 1XW. Our FCA registration number is 470392;

29.1.2 we are authorised to deal in investments as principal for Contract for Differences (including rolling spot forex contract), Future (including a commodity future and a rolling spot forex contract) and rights to or interests in investments (Contractually Based Investments);

29.1.3 our charges (including details of additional charges you may incur) are detailed in clause 18 above;

29.1.4 English law will govern our relationship with you both before and during this Agreement. The parties submit to the non-exclusive jurisdiction of the English Courts;

29.1.5 in addition to your rights under clause 25, you have the right to cancel this Agreement within 14 days of entering into it. If you cancel the Agreement you shall be liable for the settlement of all your outstanding transactions and all the sums and charges you owe us at the time of cancellation. To exercise your right you must notify us in writing within the 14 day period. Any notice should be sent in accordance with clause 23;

29.1.6 complaints and applications for compensation will be dealt with in accordance with clause 22 above;

29.1.7 This Agreement and the matters arising under or in accordance with it shall be undertaken in the English language. Any translation of this agreement into any other language is for informational purposes only and is not binding.

28. Joint accounts

28.1 This clause 28 applies only where you consist of more than one person such as joint account holders, trustees or personal representatives.

28.2 You shall be jointly and severally liable for the obligations of all and any of you under this Agreement or in any other dealings between you and us.

28.3 Unless and until we receive written notice signed by all of you withdrawing or varying the same so as to limit such authority to a specific named individual:

28.3.1 each joint holder will have authority on behalf of all the joint holders to deal with us as fully and completely as if it were the sole owner of the account without any notice to the other joint holders;

28.3.2 any of the joint holders may give us an effective and final discharge in respect of any of their obligations;

28.3.3 any notice or communication given to one joint holder shall be deemed to be given to all.

28.4 On the death of any of you, our Agreement will not terminate but remain binding on the other person(s) constituting our client and we may treat such survivor(s) as the only persons party to this Agreement with us.

28.5 Where you are trustees of a trust or personal representative of an estate, you undertake to give us notice forthwith of any change in trustees or personal representatives.

28.6 Where you are trustees of a trust, you undertake to supply us with copies of any documents now existing (or hereafter executed) limiting, extending or varying the powers of the trustees or amending the objects of the trust and any other documents or information we may reasonably require in connection therewith.

28.7 Notwithstanding the foregoing we reserve the right at our sole discretion:

28.7.1 to require joint instructions from some or all of the joint holders before taking any action under this Agreement; and

28.7.2 if we receive instructions from a joint holder which in our opinion conflict or are inconsistent with other instructions, to advise one or more joint holders of such conflict or inconsistency and/or take no action on any such instructions until we receive further instructions satisfactory to us.

27. Force majeure

27.1 Whilst we will endeavour to comply with our obligations in a timely manner we will incur no liability whatsoever for any partial or nonperformance of our obligations by reason of any cause beyond our reasonable control including but not limited to any communications, systems or computer failure, market default, suspension, failure or closure, or the imposition or change (including a change of interpretation) of any law or governmental or regulatory requirement and we shall not be held liable for any loss you may incur as a result thereof.

27.2 Without prejudice to the generality of clause 27.1, the following events shall be considered as an event of force majeure:

27.2.1 where we are (in our opinion) unable to maintain an orderly market as a consequence of civil unrest, terrorism, strikes, riots or power or communication failure;

27.2.2 excessive volatility in the financial markets;

27.2.3 suspension, closure or liquidation of underlying markets.

27.3 Without prejudice to the generality of clause 27.1, in the event of force majeure we will be entitled to:

27.3.1 alter trading times;

27.3.2 alter the Margin Requirement;

27.3.3 close or cancel any open Contracts.

26. Confidentiality

26.1 We shall be under no duty to disclose to you or in making any decision or taking any action in connection with the provision of the Services to take into account any information or other matters which come to our notice or the notice of any of our employees, directors, agents or Associates:

26.1.1 where this would or we reasonably believe that it would be a breach of any duty of fidelity or confidence to any other person; or

26.1.2 which comes to the notice of an employee, officer or agent of ours, but does not come to the actual notice of the account executive or other individual providing you with the Service in question.

26.2 The parties to this Agreement will at all times keep confidential any information of a confidential nature acquired in connection with this Agreement or the Services, except for information which they are bound to disclose under compulsion of law or by request of regulatory agencies or to their professional advisers or in our case in the proper performance of the Services. For the avoidance of any doubt, we are entitled to share your confidential information with the Relationship Manager.

26.3 We will act as data controller (and in certain circumstances, data processor) within the meaning of the Data Protection Act 1998 (the ‘Data Protection Act’). You hereby consent to the processing and use by us and our agents and Associates of personal data (as defined in the Data Protection Act) given by you under this Agreement for the provision of the Services, which may include the transfer of such data out of the European Economic Area (as defined in the Data Protection Act). Such data may also be used by us and our agents and Associates to update customer records and to advise you of other products and services.

26.4 You confirm that we may use the personal data given by you to us for the purposes of sending any and all promotional materials and advertising via facsimile, automated telecommunications systems, e-mail and/or SMS messages, and that you hereby consent to the receipt of such promotional materials and advertisements so delivered. For avoidance of doubt, it is hereby clarified that you may opt to refuse to allow us to send such materials by notifying us in writing or via e-mail at any time. It is further clarified that the provisions of and your consent pursuant to this Article 26.4 shall survive the termination of this agreement indefinitely or until such time as you send us notice of your refusal to allow us to send you such promotional materials and advertisements. For the avoidance of any doubt, we are entitled to share your personal data and Transaction Data (as defined below) with the Relationship Manager.

26.5 You agree that we will own any proprietary rights in or relating to the data generated by or connected to the transactions made and/or the Services provided to or used by you pursuant to this Agreement (“Transaction Data”). You agree and understand that it is part of the nature of the Services that the Transaction Data is accessible by third party suppliers with whom we have contracted, such as the providers of the trading platform, aggregator, CRM, risk management and other systems. Any Transaction Data accessed by or provided to suppliers shall be anonymised and shall not be capable of attribution to you or otherwise identify you as a party to any transactions. You agree that we may, at our option and sole discretion, grant rights to the Relationship Manager in respect of the non-anonymised Transaction Data.

26.6 You agree that we shall not be liable for any loss or damage howsoever caused connected to any use, sale, licensing, transfer or our making available the Transaction Data to any third party or to the Relationship Manager.

25. Termination

25.1 Either party may terminate this Agreement at any time by written notice to the other to take effect immediately or on such date as may be specified in such notice. Without limitation to the generality of the foregoing, on the basis that the role of the Relationship Manager is to provide relationship management services to you, whilst we shall endeavour to give you notice of termination, you acknowledge that we may terminate on short notice or without notice at any time if the Relationship Manager ceases to provide relationship management services to you on our behalf.

25.2 Termination of this Agreement pursuant to clause 25.1 shall be:

25.2.1 without prejudice to the completion of any transaction or transactions already initiated and any transaction or all transactions outstanding at the time of termination will be settled and delivery made. Without prejudice to the foregoing and to anything in clause 25.1 we reserve the right to close all open orders or transactions on termination without any further notice;

25.2.2 without prejudice to and shall not affect any accrued rights, or outstanding Obligations or any contractual provision intended to survive termination (including without limitation rights existing in our favour on an Event of Default, the Security, and any indemnity in our favour); and

25.2.3 without penalty or other additional payment save that you will pay:

(a) our outstanding fees and charges (pro-rated where appropriate to the date of termination);

(b) any expenses incurred by us in the provision of the Services or under this Agreement payable by you;

(c) any additional expenses incurred by us in terminating this Agreement;

(d) any losses necessarily realised in settling or concluding outstanding obligations; and

(e) any other outstanding Obligations.

24. Amendments

Any amendment to this Agreement shall be notified in writing and if made by us shall take effect on such date as we shall specify (being not less than 10 Business Days after the issue of the notice unless it is impracticable to do so). Any amendment proposed by you shall take effect when accepted in writing by us.

23. Notices, instructions and other communications

23.1 Without prejudice to the provisions of clauses 5 and 7 relating to the giving of dealing and similar instructions, any notification given to us under this Agreement shall be in writing and sent to the address stated above or such other address as may be notified by us to you and such notice to us shall take effect upon its actual receipt by us.

23.2 All written communications by us to you under this Agreement may be sent to the last postal address notified to us by you in writing.

23.3 We may record telephone conversations with you without the use of a warning tone, and may use the recordings as evidence in the event of a dispute. We will destroy any recordings or transcripts in accordance with our normal destruction policy in place at that time (currently 3 years).