Common use of Master Terms and Conditions Clause in Contracts

Master Terms and Conditions. Financial Institution Institution which collects funds from the public and places them in financial assets, such as deposits, loans, and bonds, rather than tangible property. Foreign Exchange Foreign Exchange is the trade of one national Currency for another and takes place “over the counter" and centrally on an inter-bank system. Foreign Exchange Rate The rate at which one Currency may be converted into another. Also known as rate of exchange or exchange rate or Currency exchange rate. Hedging A transaction undertaken for the purpose of mitigating currency risk associated with legitimate commercial or business activity, such as to cover expenses incurred and payable in a foreign currency. Margin Deposit A security deposit provided by the client. Order Form Means the Spot Transaction Form which VBCE requires to be completed for each transaction entered into with a Client. Parties Means VBCE and the Client collectively and the Parties shall be referred to individually as a “Party”. Payee An individual who receives a form of payment (i.e. cash, cheque, money order, or promissory note). Services Means the Services provided by VBCE as defined in Part 4 of these Master Terms and Conditions. Settlement The finalizing of the sale of a Currency, as its title is transferred from the seller to the buyer. Also known as closing. Settlement Date The date by which an executed transaction must be settled, by paying for a purchase or by delivering a sold asset. Speculation Speculation is the practice of purchasing an asset including the Services (exposing one’s self to risk) with the intention of profiting from price fluctuations that occur in the asset (Currency). Spot Transaction Any transaction that does not occur in the forward market and that is intended to be completed at the present market value and be settled on a current basis or within a few days (usually one, two, or three).

Master Terms and Conditions. Financial Institution Institution which collects funds from the public and places them in financial assets, such as deposits, loans, and bonds, rather than tangible property. Foreign Exchange Foreign Exchange is the trade of one national Currency for another and takes place “"over the counter" and centrally on an inter-bank system. Foreign Exchange Rate The rate at which one Currency may be converted into another. Also known as rate of exchange or exchange rate or Currency exchange rate. Hedging A transaction undertaken for the purpose of mitigating currency risk associated with legitimate commercial or business activity, such as to cover expenses incurred and payable in a foreign currency. Margin Deposit A security deposit provided by the client. Order Form Means the Spot Transaction, Forward Transaction or Option Transaction Form which VBCE AFX requires to be completed for each transaction entered into with a Client. Parties Means VBCE AFX and the Client collectively and the Parties shall be referred to individually as a “Party”. Payee An individual who receives a form of payment (i.e. cash, chequecheck, money order, or promissory note). Services Means the Services provided by VBCE AFX as defined in Part 4 of these Master Terms and Conditions. Settlement The finalizing of the sale of a Currency, as its title is transferred from the seller to the buyer. Also known as closing. Settlement Date The date by which an executed securities transaction must be settled, by paying for a purchase or by delivering a sold asset. Speculation Speculation is the practice of purchasing an asset including the Services (exposing one’s 's self to risk) with the intention of profiting from price fluctuations that occur in the asset (Currency). Spot Transaction Any transaction that does not occur in the forward market and that is intended to be completed at the present market value and be settled on a current basis or within a few days (usually one, two, or three).. Transaction Confirmation Means the Transaction confirmation as defined in Section 5.01 of these Master Terms and Conditions. Wire Transfer An electronic transfer of funds. Wire transfers can be done by a simple bank account transfer, or by a transfer of cash at a cash office. Part 2 – Scope of the Agreement

Master Terms and Conditions. Financial Institution Institution which collects funds from the public and places them in financial assets, such as deposits, loans, and bonds, rather than tangible property. Foreign Exchange Foreign Exchange is the trade of one national Currency for another and takes place “over the counter" and centrally on an inter-bank system. Foreign Exchange Rate The rate at which one Currency may be converted into another. Also known as rate of exchange or exchange rate or Currency exchange rate. Hedging A transaction undertaken for the purpose of mitigating currency risk associated with legitimate commercial or business activity, such as to cover expenses incurred and payable in a foreign currency. Margin Deposit A security deposit provided by the client. Order Form Means the Spot Transaction Form which VBCE PCE requires to be completed for each transaction entered into with a Client. Parties Means VBCE PCE and the Client collectively and the Parties shall be referred to individually as a “Party”. Payee An individual who receives a form of payment (i.e. cash, cheque, money order, or promissory note). Services Means the Services provided by VBCE PCE as defined in Part 4 of these Master Terms and Conditions. Settlement The finalizing of the sale of a Currency, as its title is transferred from the seller to the buyer. Also known as closing. Settlement Date The date by which an executed transaction must be settled, by paying for a purchase or by delivering a sold asset. Speculation Speculation is the practice of purchasing an asset including the Services (exposing one’s self to risk) with the intention of profiting from price fluctuations that occur in the asset (Currency). Spot Transaction Any transaction that does not occur in the forward market and that is intended to be completed at the present market value and be settled on a current basis or within a few days (usually one, two, or three).