Common use of Confirmation and Account Statements Clause in Contracts

Confirmation and Account Statements. In respect of every transaction of sale, purchase or exchange of Derivatives entered into by GTJAF for the Account in Hong Kong, GTJAF will (unless otherwise provided by the SFO) make out a contract note which will contain all the necessary information required by the SFO, and shall deliver the contract note to the Client within the time limit specified in the SFO. In respect of all other transactions, GTJAF will as soon as practicable after effecting such transactions, confirm the essential features of the transactions to the Client either orally or in writing. GTJAF will provide the Client with a statement of account in relation to the transactions and dealings, which GTJAF has entered into in relation to the Account on a monthly basis. The contract notes, statements of account and any confirmations in writing of execution of transactions for the Account which GTJAF sends to the Client shall be conclusive in respect of all information set out therein, and shall be deemed to have been accepted by the Client, in the case of contract notes, if not objected to by the Client in writing, within twenty-four (24) hours after delivery to the Client, and in the case of statements of accounts and confirmations in writing, within five (5) Business Days after posting thereof to the Client by ordinary mail.