Inactive and Dormant Accounts. 37.1. A trading account shall be classified as Inactive Account where you have not proceeded with any transactions such as deposits, withdrawals and/ or any trading activity ( open/ close positions and place trades) for a period of at least 60 days or more. 37.2. The Company reserves the right, to charge a monthly inactivity fee of ten (10) USD (“Inactivity Fee”) on your Trading Account in return for the maintenance, administration and compliance management of such Inactive Accounts. Any Inactive Accounts, holding zero balance/ Equity, shall be turned to Dormant ("Dormant Account"). 37.3. The monthly inactivity fee shall be charged in basis of the following mechanism: a) Where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account; b) Where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is active, no Inactivity Fee shall apply even where one or more of your other Trading Accounts are Inactive Accounts; and c) Where the balance of any Inactive Account to which Inactivity Fee is applicable as per the definition above is less than ten (10) USD, then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We retain the right to charge the Inactivity Fee post factum for any month where for technical reasons no inactivity fees were charged. 37.4. You agree that you are liable to and will pay the applicable fee as notified to you from time to time and that we may deduct such fee from any funds held by us on your behalf. 37.5. We retain the right to proceed with cancellation, without any written notice of any pending orders of an account which is classified as Inactive. 37.6. If you wish to re activate a Dormant account, you must contact us and inform us about your request of a reactivation. 37.7. In case you proceed with a request of a reactivation we have the right to request you to submit again all necessary documents and information regarding your identity, knowledge, experience and economic profile in order for us to determinate whether we shall proceed with the reactivation or not.
Appears in 2 contracts
Samples: Client Services Agreement, Client Services Agreement
Inactive and Dormant Accounts. 37.141.1. A trading account shall be classified as Any Trading Account(s), held with us where you have:
a) not placed a trade;
b) opened or closed positions; and/or Inactive Account where you have not proceeded with any transactions such as deposits, withdrawals and/ or any trading activity ( open/ close positions and place trades) for a period of at least 60 days or more.
37.2. The Company reserves the right, relating to charge a monthly inactivity fee of ten (10) USD (“Inactivity Fee”) on your Trading Account in return for the maintenance, administration and compliance management of such Inactive Accounts. Any Inactive Accounts, holding zero balance/ Equity, which charge shall be turned to Dormant ("Dormant Account").
37.3. The monthly inactivity fee shall be charged apply in basis of accordance with the following mechanismcriteria:
a(i) Where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account;
b(ii) Where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is active, no Inactivity Fee shall apply even where one or more of your other Trading Accounts are Inactive Accounts; and
c(iii) Where the balance of any Inactive Account to which Inactivity Fee is applicable as per the definition above under this Clause 41.2 is less than ten (10) USD, then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We retain reserve the right to charge the Inactivity Fee post factum retroactively for any month where in which we had the right to charge it but did not do so for technical reasons no inactivity fees were chargedreasons.
37.441.3. You agree It is at all times your responsibility to monitor the status of your account and in case that you are liable to and will pay the applicable fee as notified to you from time to time and that we may deduct such fee from any funds held account is classified by us on your behalf.
37.5. We retain as an Inactive Account in accordance to the criteria available in clause 41.2, then you have the right to proceed with cancellationappropriate actions as deemed necessary by you. The Company has no responsibility to inform you of the change of the status of your account nor will be sending any notification prior the charge of the first Inactivity Fee.
41.4. Inactive Accounts will be subject to a monthly charge of ten (10) USD or its equivalent in the currency of the account (or if the account balance is less than an equivalent of 10 USD, the charge shall be equal to the actual amount of funds in the account), relating to the maintenance, administration and compliance management of such Inactive Accounts. Any Inactive Accounts, holding zero balance/Equity, shall be turned to Dormant ("Dormant Account").
41.5. Inactivity Fee in accordance with the provisions of clause 41.1 does not apply if you are a resident domiciled in Denmark. We reserve the right to change this exemption at any time without any written notice of notice. For further information, please speak to us, our contact details are available at Clause 38(“Communication”).
41.6. We reserve the right to cancel any pending orders of Orders on an account which is classified as InactiveInactive Account without notice.
37.641.7. If you wish to re activate a For re-activation of Dormant accountAccounts, you must contact us and inform us about of your request of a reactivation.
37.7. In case you proceed with a request of a reactivation we have the right wish to request you to submit again all necessary documents and information regarding your identity, knowledge, experience and economic profile in order for us to determinate whether we shall proceed with the reactivation or not.reactivate
Appears in 1 contract
Samples: Investment Services Agreement
Inactive and Dormant Accounts. 37.141.1. A trading account shall be classified as Any Trading Account(s), held with us where you have:
a) not placed a trade; Inactive Account where you have not proceeded with any transactions such as deposits, withdrawals and/ or any trading activity ( open/ close positions and place trades) for a period of at least 60 days or more.
37.2. The Company reserves the right, relating to charge a monthly inactivity fee of ten (10) USD (“Inactivity Fee”) on your Trading Account in return for the maintenance, administration and compliance management of such Inactive Accounts. Any Inactive Accounts, holding zero balance/ Equity, which charge shall be turned to Dormant ("Dormant Account").
37.3. The monthly inactivity fee shall be charged apply in basis of accordance with the following mechanismcriteria:
a(i) Where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account;
b(ii) Where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is active, no Inactivity Fee shall apply even where one or more of your other Trading Accounts are Inactive Accounts; and
c(iii) Where the balance of any Inactive Account to which Inactivity Fee is applicable as per the definition above under this Clause 41.2 is less than ten (10) USD, then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We retain reserve the right to charge the Inactivity Fee post factum retroactively for any month where in which we had the right to charge it but did not do so for technical reasons no inactivity fees were chargedreasons.
37.441.3. You agree We reserve the right to cancel any pending Orders on Inactive and Dormant Accounts without notice.
41.4. It is at all times your responsibility to monitor the status of your account and in case that you are liable to and will pay the applicable fee as notified to you from time to time and that we may deduct such fee from any funds held account is classified by us on your behalf.
37.5. We retain as an Inactive Account in accordance to the criteria available in clause 41.2, then you have the right to proceed with cancellation, without appropriate actions as deemed necessary by you. The Company has no responsibility to inform you of the change of the status of your account nor will be sending any written notice notification prior the charge of any pending orders of an account which is classified as Inactivethe first Inactivity Fee.
37.641.5. If you wish Inactive Accounts will be subject to re activate a monthly charge of ten (10) USD or its equivalent in the currency of the account (or if the account balance is less than an equivalent of 10 USD, the charge shall be equal to the actual amount of funds in the account), relating to the maintenance, administration and compliance management of such Inactive Accounts. Any Inactive Accounts, holding zero balance/Equity, shall be turned to Dormant account, you must contact us and inform us about your request of a reactivation("Dormant Account").
37.741.6. In case Inactivity Fee in accordance with the provisions of clause 41.1 does not apply if you proceed with are a request of a reactivation we have resident domiciled in Denmark. We reserve the right to request you change this exemption at any time without notice. For further information, please speak to submit again all necessary documents and information regarding your identityus, knowledge, experience and economic profile in order for us our contact details are available at Clause 38(“Communication”).
41.7. We reserve the right to determinate whether we shall proceed with the reactivation or not.cancel any pending Orders
Appears in 1 contract
Samples: Investment Services Agreement
Inactive and Dormant Accounts. 37.136.1. A trading account shall be classified as Inactive Account where you have not proceeded with any transactions such as deposits, withdrawals and/ or any trading activity ( (open/ close positions and place trades) for a period of at least 60 days or more.
37.236.2. The Company reserves the right, to charge a monthly inactivity fee of ten (10) USD (“Inactivity Fee”) on your Trading Account in return for the maintenance, administration and compliance management of such Inactive Accounts. Any Inactive Accounts, holding zero balance/ Equity, shall be turned to Dormant ("Dormant Account").
37.3. a) The monthly inactivity fee shall be charged in basis of the following mechanism:
a) : Where you have more than one (1) Trading Account and all of such Trading Accounts are Inactive Accounts, Inactivity Fee shall be charged separately for each Inactive Account;
b) Where you have more than one (1) Trading Account, and at least one (1) of your Trading Accounts is active, no Inactivity Fee shall apply even where one or more of your other Trading Accounts are Inactive Accounts; and
c) Where the balance of any Inactive Account to which Inactivity Fee is applicable as per the definition above is less than ten (10) USD, then the Inactivity Fee for such Inactive Account shall be equal to the amount of the remaining balance on such Inactive Account. We retain the right to charge the Inactivity Fee post factum for any month where for technical reasons no inactivity fees were charged.
37.436.3. You agree that you are liable to and will pay the applicable fee as notified to you from time to time and that we may deduct such fee from any funds held by us on your behalf.
37.536.4. We retain the right to proceed with cancellation, without any written notice of any pending orders of an account which is classified as Inactive.
37.636.5. If you wish to re activate a Dormant account, you must contact us and inform us about your request of a reactivation.
37.736.6. In case you proceed with a request of a reactivation we have the right to request you to submit again all necessary documents and information regarding your identity, knowledge, experience and economic profile in order for us to determinate whether we shall proceed with the reactivation or not.
Appears in 1 contract
Samples: Client Service Agreement
