Common use of Chargeback Clause in Contracts

Chargeback. (a) If we receive a chargeback from your credit card issuer or with respect to any other payment method for any reason, you acknowledge that we have the right, to: (i) immediately close any and all of your open positions whether a loss or a profit and liquidate your Account with or without any notice; and/or (ii) immediately place restrictions on your Account with or without any notice, including but not limited to: the restriction on making deposits using any payment method to your Account, even in cases of Margin Call, restrictions on requesting withdrawals, restrictions on opening new positions with the duration of the restriction to be set at the Company’s discretion; and/or (iii) terminate the Client Agreement. (b) Mitrade cannot be held liable for any loss, cost, or charge incurred directly or indirectly from the exercise of our rights to place restrictions on your Account as provided in Clause 17(6)(a)(ii). You further agree that the exercise of our rights under this Client Agreement does not affect, diminish, influence or alter in any way our rights to make Margin Calls under this Client Agreement.

Appears in 10 contracts

Samples: Client Agreement, Wholesale Client Agreement, Client Agreement

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Chargeback. (( a) If we receive a chargeback from your credit card issuer or with respect to any other payment method for any reason, you acknowledge that we have the right, to: (( i) immediately close any and all of your open positions whether a loss or a profit and liquidate your Account with or without any notice; and/or (( ii) immediately place restrictions on your Account with or without any notice, including but not limited to: the restriction on making deposits using any payment method to your Account, even in cases of Margin Call, restrictions on requesting withdrawals, restrictions on opening new positions with the duration of the restriction to be set at the Company’s ’ s discretion; and/orand/ or (( iii) terminate the Client Agreement. (( b) Mitrade UDMarkets cannot be held liable for any loss, cost, or charge incurred directly or indirectly from the exercise of our rights to place restrictions on your Account as provided in Clause 17(6)(a)(ii). You further agree that the exercise of our rights under this Client Agreement does not affect, diminish, influence or alter in any way our rights to make Margin Calls under this Client Agreement.

Appears in 1 contract

Samples: Client Agreement

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