Client Funds. 8.1 We treat funds received from you or held by us on your behalf in accordance with the requirements of the Applicable Regulations. In particular, funds belonging to you that will be used for trading purposes will be kept in an account with any bank or financial institution or in any other manner used to accept funds which Demeterer will specify from time to time and will be held in Demeterer's name, or on the name of payment institution which servers for Xxxxxxxxx’s client’s custody deposit accounts.
8.2 By accepting this Agreement, you authorize Demeterer to make any necessary reconciliation transfers in order for the bank account balance to match the trading account balance, including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Agreement and all amounts which are payable by or on behalf of the Customer to Demeterer or any other person. It is understood that any amount payable by Demeterer to you, shall be paid directly to you to a bank account the beneficial owner of which is you. Fund transfer requests are processed by Demeterer within the time period specified on Demeterer's official website and the time needed for crediting into your personal account will depend on your bank account provider.
8.3 You agree that any amounts sent by you in the Demeterer's bank accounts, will be deposited to your trading account at the value date of the payment received and net of any charges/fees charged by the bank account providers or any other intermediary involved in such transaction process. In order for Demeterer to accept any deposits by you, the identification of the sender must by verified and ensure that the person depositing the funds is you. If these conditions are not met, Demeterer reserves the right to refund the net amount deposited via the method used by the depositor.
8.4 You, the client, acknowledge and confirm that no interest will be received on the balance of your Trading account.
8.5 You agree that we may cease to treat your funds as client funds if there has been no movement on your balance for six years. We shall write to you at your last known address informing you of our intention of no longer treating your balance as client funds and giving you 28 days to make a claim.
8.6 You agree that we shall not be liable for any default of any counterparty, bank, custodian or other entity which holds funds on your behalf or with or through whom transactions are conducted.
8...
Client Funds. 19.3.1. Client represents and warrants that it is acting as a principal and has legal title to all funds used in connection with the Orders, and that any Order is being undertaken in accordance with applicable law.
19.3.2. Client further represents and warrants that each use of the Services by Client is for the sole purpose of hedging or mitigating commercial risk exercised in connection with Client’s line of business.
Client Funds. All client funds shall be handled by the Purchaser or Protective Payee. The Provider shall not handle client funds.
Client Funds. 12.1. All amounts handed over by the Client to the Execution Venue, for the provision of Investment Services as in Clause 9 above, shall be held in an omnibus account named as Client Account together with money of other Clients, but not with company money, and/ or in the name of the Execution Venue on behalf of the Client in an account with an authorised credit institution or a bank or any electronic payment providers/processors which the Company shall specify from time to time (“the ‘Bank Account”) and separately from any accounts used to hold funds belonging to the Execution Venue. The Company will not be liable for any failure or insolvency of any bank or third party; however, applicable investor compensation or deposit protection schemes may protect a proportion of Client Funds with any bank or third party.
12.2. Unless the Client notifies the Execution Venue in writing or otherwise, the Execution Venue may allow a third party, such as an exchange, a clearing house or an intermediate broker to hold all control Client Funds where the Execution Venue transfers the Client Funds
(a) For the purposes of a transaction for the Client through or with that person; or
(b) To meet Clients obligations to provide collateral for a transaction (e.g. an initial margin requirement for a derivative transaction).
12.3. The Client authorises the Execution Venue to make any deposits and withdrawals from the Client’s Account on his/ her behalf including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Terms and all amounts which are payable by or on behalf of the Client to the Execution Venue or any other person.
12.4. Unless the Parties otherwise agree, in writing, any amount payable by the Execution Venue to the Client, shall be paid directly to the Client.
12.5. The Execution Venue may at its discretion from time to time and without Client’s authorisation set off any amounts held on Client’s behalf against the Client’s obligation to the Execution Venue and/ or merge any Accounts of the Client with the Execution Venue.
12.6. The Client has the right to withdraw the funds which are not used for margin covering, free from any obligations (Free Margin) from his/ her Account without closing the said Account.
12.7. Money transfer request (withdrawal from Trading Account) is processed within three Business Days after receiving from the Client transfer request instructions. Then the transferring amount red...
Client Funds. The client agrees that its monies and the monies of other clients of the Company will be combined and deposited by the Company in a Client Bank Account or Payment Service Providers. The client acknowledges that all monies credited to the Client Bank Account maintained by the Company may be used by the Company to meet the default on any account of the client with the Company.
Client Funds. Client funds and assets are not held by Graybridge. Graybridge requires that Client funds and assets be held at one of our designated Custodians. Graybridge will assist you in establishing an Account with the Custodian it selects. The agreements that the Client signs when opening their Account will govern their relationship with the Custodian. At any time throughout the term of this Agreement, Graybridge may remove or replace the Custodian. The Custodian will hold the Client's funds and assets, as well as document transactions that occur throughout the duration of the Service. The Client acknowledges that Graybridge is not liable for the obligations of the Custodian or any successor custodian, and that Graybridge and the Custodian have separate agreements with you allocating separate rights and obligations. Clients recognize that the services they get through the Service are sufficient consideration for them to sign into this Agreement and that it is their obligation to keep their Account in good standing. All investment checks must be made payable to the Custodian and transmitted through their website. The transmission of ACH, wire, or other investment funds to Graybridge is prohibited. Graybridge is not liable for the Custodian's actions, conduct, or omissions. Graybridge may not transfer Client funds or assets under the terms of this Agreement except as expressly permitted. If fees are deductible, Graybridge will have restricted custody.
Client Funds. Funds belonging to you that will be used for business purposes will be held in an account with any bank or financial institution used to accept funds, which the Company will specify from time to time and will be held in the name of the Company. The Company shall exercise due skill, care and diligence in the selection, appointment and periodic review of the credit institution, bank, money market fund, PSP and liquidity provider with which it collaborates, in order to ensure the safeguarding of client funds. The Company will also take into account the market reputation of such institutions to ensure the protection of client funds. It is understood that the Company will hold funds on your behalf in a bank. The legal and regulatory regime applicable to such a bank may be different from the legal and regulatory regime of St. Xxxxxxx and the Grenadines and, in the event of insolvency or any other analogous event in relation to that bank, its funds may be treated differently from the treatment that would apply if the funds were held in a bank in St. Xxxxxxx and the Grenadines. The Company shall not be liable for the insolvency, acts or omissions of any third party referred to in this clause. It is commonly understood that any amount payable by the Company to you, will be paid directly to you, to the same account that was used by the client to deposit money with the Company for the account opening process, of which the ultimate beneficiary is you. In case of a positive cash balance in the retail client's trading account, the Company will process the client's request to withdraw funds on the same day the request to withdraw funds was made, or the next business day if the client's request is received outside normal trading hours. And the time needed to make the credit to your personal account will depend on your bank account provider. The Company reserves the right of set-off and may, at its discretion, from time to time and without your authorization, set off any amounts withheld on your behalf and/or credit against your obligation to the Company. Unless otherwise agreed in writing by the Company and you, this Agreement will not give rise to credit facility rights. You have the right to withdraw funds that are not used for margin hedging, free of any obligation from your Account without closing such Account. The Company reserves the right to reject a withdrawal request if the request is not in accordance with certain conditions mentioned in this Agreement or delay ...
Client Funds. All development funds will be held in a Trust Bank Account with the Bank of Scotland. This account will be interest bearing and the interest will be credited to the development account. In no circumstances will the bank account be allowed to be overdrawn and in the event that during the course of the year essential expenditure results in us operating significantly beyond the budget a further service charge will be issued to proprietors. All reserve / contingency funds collected are non-refundable should a proprietor sell.
Client Funds. 13.1 All funds, handed over by the Client to the Company, intended for the provision of Investment Services, as in Clause 3 above, will be held in separate client accounts named as Client Account together with money of other Clients segregated from the funds belonging to the Company.
13.2 Unless the Client informs the Company in writing or otherwise, the Company may allow a third party, such as an exchange, a clearing house or an intermediate broker to hold or control Client Funds. In this case the Company transfers the Client Funds (a) for the purposes of a transaction for the Client through or with that person; or (b) to meet Clients obligations to provide guarantee for a transaction (e.g. an initial margin requirement for a derivative transaction).
13.3 The Client authorizes the Company to make any deposits and withdrawals from the Client’s Account on his behalf including withdrawals for the settlement of all transactions undertaken under the Terms and all amounts which are payable by or on behalf of the Client to the Company or any other person.
13.4 Unless the Parties agree otherwise, in writing, any amount payable by the Company to the Client, will be paid directly to the Client.
13.5 The Company may at its discretion from time to time and without Client’s consent set off any amounts held on Client’s behalf against the Client’s obligation to the Company.
13.6 The Client has the right to withdraw the funds which are not used for margin covering, free from any obligations (Free Margin) from his Account without closing the said account. For the withdrawal to be processed the Client must have satisfied the full KYC and Compliance of the company by submitting full documentation. Client agrees to pay additional withdrawal fee if volume requirements of 3 lots traded are not met prior to withdrawal request. If the Client meets the requirement of 3 lots traded before withdrawal, he is released from the obligation to pay additional fees to the Company (this does not include any transfer or third-party payment fees imposed by payment providers).
13.7 Money transfer request (withdrawal from trading account) is processed within three Business Days after receiving the Client's request. The transferred amount reduces the balance of the Client's sub‐account. The Company reserves the right to reject a withdrawal request if the request is not in accordance with Clause 15 below, or delay the processing of the request if not satisfied on full documentation of the Client...
Client Funds. When necessary, client funds shall be handled by the Agency. The Contractor shall not handle client funds.
