Common use of GUARANTEE DEPOSIT Clause in Contracts

GUARANTEE DEPOSIT. 2.1. When an order to conclude a deal for Contracts For Differences (CFD) and other OTC derivatives on a margin basis, clients must provide a security/guarantee deposit. The guarantee deposit serves to cover the risk of losses in case of an adverse movement in the price of traded financial instruments. The minimum guarantee deposit for each position is calculated individually depending on the type of financial instrument and / or the client (non-professional, professional or eligible counterparty). 2.2. The guarantee deposit is blocked immediately as a prerequisite for opening a position in Contracts For Differences (CFDs) or other derivative instruments by the client and the client cannot use the blocked amount for other purposes until the closure of the open position it guarantees. BenchMark Finance may refuse to execute submitted by the client order to open a position in Contracts For Differences (CFDs) or other derivative instruments, if the funds on the client's trading account are insufficient to cover the minimum required margin for the respective position. 2.3. The amount of the guarantee deposit (margin requirement for opening positions in various financial instruments) is expressed as a percentage of the value of the open position. Margin requirements for different types of instruments are indicated on the BenchMark Finance website according to the type of client (non-professional, professional or acceptable counterparty). In determining the amount of the guarantee deposit requirements, BenchMark Finance complies with the requirements set by the Financial Supervision Commission (FSC), the European Securities and Markets Authority (ESMA) and/or by the supervisory authorities of other Member States of the European Union, if such requirements exist (if the case). In case of change of the regulatory requirements and/or setting of new requirements by FSC, ESMA and/or supervisory bodies of other Member States of the European Union, BenchMark Finance changes the amount of the minimum required guarantee deposit/margin, both for certain financial instruments and for individual clients. 2.4. The guarantee deposit covers the risk of possible losses from exchange rate and price differences realized as a result of transactions concluded at the client's expense, accrued interest rate swap costs for transferring the client's positions for the next business day, deducted dividend payments or other expenses. The guarantee deposit covers these risks, including the value of cash and financial instruments on the client's accounts with BenchMark Finance. The client may enter into transactions provided that the balances on the account with BenchMark Finance are sufficient to maintain already opened positions (if any) and to open new positions that the client wishes to open. 2.5. BenchMark Finance has the right to close one or all open positions of the client without notice, at its discretion in the hypotheses described in the General Terms and Conditions of BenchMark Finance and the Policy for execution of client orders, as well as if there is a danger of realization or has already been realized a negative balance on one or more client’s accounts. In the cases when the client has more than one account opened with BenchMark Finance and has realized a negative balance on one of them, BenchMark Finance has the right to use at its discretion all money and/or financial instruments available on the other accounts of the client, respectively to carry out any management and/or disposal actions in order to limit or cover the amount of losses incurred by the client and the obligations of the client, due to those losses, towards BenchMark Finance. 2.6. Upon reduction of the available amount in the trading account to the value indicated on the BenchMark Finance website by the required margin for maintaining open positions, the client pays in (deposit) the amount to cover his/her shortage of funds as soon as possible. The client has an obligation to monitor his/her positions in the financial instrument and the margin required for their retention and to take action to deposit/pay in funds when necessary. 2.7. Upon reduction of the available amount in the trading account, the client is notified by receiving a margin call for additional deposit so that BenchMark Finance be able to maintain (keep) the open positions to protect the client from losses or risk of losses in connection with already open positions/concluded transactions or future open positions/transactions of the client. Margin call can be placed/received by the client by phone (via a recordable telephone line), by e-mail or in the electronic trading platform, including through an automatically generated message. In case of a margin call sent to the client, the client is obliged to immediately pay to BenchMark Finance the respective requested amount of money in order to meet the margin requirement specified in the terms of trading with the various financial instruments on the investment intermediary's website. If the client does not provide the required margin deposit (guarantee amount) due in connection with the maintenance of open position (s) or transaction (s), BenchMark Finance may close any of its open positions / transactions, in part or in full, without prior notice to the client, under the conditions, price (quotation), timing (moment), at the time such action being undertaken at the discretion of BenchMark Finance. 2.8. General margin requirements of BenchMark Finance for opening positions in various financial instruments are specified on the intermediary's website. BenchMark Finance reserves the right to set specific margin requirements and obligations for specific financial instruments and transactions. 2.9. In cases where the client and BenchMark Finance have a dispute in relation to open or closed margin positions (transaction) or alleged open margin positions (transaction) or margin deals related instructions, BenchMark Finance shall have the right, at its sole discretion and without prior notice, to close ex officio that position of the client (margin transaction) or an alleged position/margin transaction if it reasonably (with reason) considers such action as desirable in order to limit the maximum amount subject to the dispute with the client. BenchMark Finance is not responsible for future changes in the quotations and has no obligation to the client in connection with subsequent fluctuations in the quotation of the financial instrument on the closed disputable client’s position/margin transaction. If BenchMark Finance closes a client's margin transaction under this clause (in the event of a dispute), BenchMark Finance may, at its discretion, take or may take no actions to limit the client's ability to open new margin positions, including in the same financial instrument. 2.10. In all cases of an official closing of the positions, the client unconditionally agrees with the price levels at which BenchMark Finance has closed the client's positions. Regardless of the actions taken by BenchMark Finance to close the positions, if as a result the balance on the client's account is negative (loss is realized), the client should pay to BenchMark Finance an amount equal to the realized negative cash balance, and such case the (point) (item) art. 4.4, art. 4.5 and art. 4.6. of this contract shall apply:

GUARANTEE DEPOSIT. 2.1. When an order to conclude a deal for Contracts For Differences (CFD) and other OTC derivatives on a margin basis, clients must provide a security/guarantee deposit. The guarantee deposit serves to cover the risk of losses in case of an adverse movement in the price of traded financial instruments. The minimum guarantee deposit for each position is calculated individually depending on the type of financial instrument and / or the client (non-professional, professional or eligible counterparty). 2.2. The guarantee deposit is blocked immediately as a prerequisite for opening a position in Contracts For Differences (CFDs) or other derivative instruments by the client and the client cannot use the blocked amount for other purposes until the closure of the open position it guarantees. BenchMark Finance may refuse to execute submitted by the client order to open a position in Contracts For Differences (CFDs) or other derivative instruments, if the funds on the client's trading account are insufficient to cover the minimum required margin for the respective position. 2.3. The amount of the guarantee deposit (margin requirement for opening positions in various financial instruments) is expressed as a percentage of the value of the open position. Margin requirements for different types of instruments are indicated on the BenchMark Finance website according to the type of client (non-non- professional, professional or acceptable counterparty). In determining the amount of the guarantee deposit requirements, BenchMark Finance complies with the requirements set by the Financial Supervision Commission (FSC), the European Securities and Markets Authority (ESMA) and/or by the supervisory authorities of other Member States of the European Union, if such requirements exist (if the case). In case of change of the regulatory requirements and/or setting of new requirements by FSC, ESMA and/or supervisory bodies of other Member States of the European Union, BenchMark Finance changes the amount of the minimum required guarantee deposit/margin, both for certain financial instruments and for individual clients. 2.4. The guarantee deposit covers the risk of possible losses from exchange rate and price differences realized as a result of transactions concluded at the client's expense, accrued interest rate swap costs for transferring the client's positions for the next business day, deducted dividend payments or other expenses. The guarantee deposit covers these risks, including the value of cash and financial instruments on the client's accounts with BenchMark Finance. The client may enter into transactions provided that the balances on the account with BenchMark Finance are sufficient to maintain already opened positions (if any) and to open new positions that the client wishes to open. 2.5. BenchMark Finance has the right to close one or all open positions of the client without notice, at its discretion in the hypotheses described in the General Terms and Conditions of BenchMark Finance and the Policy for execution of client orders, as well as if there is a danger of realization or has already been realized a negative balance on one or more client’s accounts. In the cases when the client has more than one account opened with BenchMark Finance and has realized a negative balance on one of them, BenchMark Finance has the right to use at its discretion all money and/or financial instruments available on the other accounts of the client, respectively to carry out any management and/or disposal actions in order to limit or cover the amount of losses incurred by the client and the obligations of the client, due to those losses, towards BenchMark Finance. 2.6. Upon reduction of the available amount in the trading account to the value indicated on the BenchMark Finance website by the required margin for maintaining open positions, the client pays in (deposit) the amount to cover his/her shortage of funds as soon as possible. The client has an obligation to monitor his/her positions in the financial instrument and the margin required for their retention and to take action to deposit/pay in funds when necessary. 2.7. Upon reduction of the available amount in the trading account, the client is notified by receiving a margin call for additional deposit so that BenchMark Finance be able to maintain (keep) the open positions to protect the client from losses or risk of losses in connection with already open positions/concluded transactions or future open positions/transactions of the client. Margin call can be placed/received by the client by phone (via a recordable telephone line), by e-mail or in the electronic trading platform, including through an automatically generated message. In case of a margin call sent to the client, the client is obliged to immediately pay to BenchMark Finance the respective requested amount of money in order to meet the margin requirement specified in the terms of trading with the various financial instruments on the investment intermediary's website. If the client does not provide the required margin deposit (guarantee amount) due in connection with the maintenance of open position (s) or transaction (s), BenchMark Finance may close any of its open positions / transactions, in part or in full, without prior notice to the client, under the conditions, price (quotation), timing (moment), at the time such action being undertaken at the discretion of BenchMark Finance. 2.8. General margin requirements of BenchMark Finance for opening positions in various financial instruments are specified on the intermediary's website. BenchMark Finance reserves the right to set specific margin requirements and obligations for specific financial instruments and transactions. 2.9. In cases where the client and BenchMark Finance have a dispute in relation to open or closed margin positions (transaction) or alleged open margin positions (transaction) or margin deals related instructions, BenchMark Finance shall have the right, at its sole discretion and without prior notice, to close ex officio that position of the client (margin transaction) or an alleged position/margin transaction if it reasonably (with reason) considers such action as desirable in order to limit the maximum amount subject to the dispute with the client. BenchMark Finance is not responsible for future changes in the quotations and has no obligation to the client in connection with subsequent fluctuations in the quotation of the financial instrument on the closed disputable client’s position/margin transaction. If BenchMark Finance closes a client's margin transaction under this clause (in the event of a dispute), BenchMark Finance may, at its discretion, take or may take no actions to limit the client's ability to open new margin positions, including in the same financial instrument. 2.10. In all cases of an official closing of the positions, the client unconditionally agrees with the price levels at which BenchMark Finance has closed the client's positions. Regardless of the actions taken by BenchMark Finance to close the positions, if as a result the balance on the client's account is negative (loss is realized), the client should pay to BenchMark Finance an amount equal to the realized negative cash balance, and such case the (point) (item) art. 4.4, art. 4.5 and art. 4.6. of this contract shall apply: