Principal Dealing Sample Clauses
The Principal Dealing clause defines the circumstances under which a party may act as a principal, rather than as an agent, in transactions covered by the agreement. In practice, this means that the party is trading on its own behalf and assumes the associated risks and benefits, rather than merely facilitating trades for a client. This clause clarifies the roles and responsibilities of the parties in each transaction, ensuring transparency and helping to prevent misunderstandings about who bears the risk and reward in any given deal.
Principal Dealing. ▇▇▇▇▇▇ is authorised to deal as principal in the investments listed at paragraph 1 above. Where we act as principal in a transaction, that fact will be stated on the relevant contract note.
Principal Dealing. You agree and acknowledge that, unless we agree to trade with you as an agent or trustee and we inform you of any other arrangements applying thereto, we shall treat only you as our client and counterparty. It is agreed and acknowledged that, in the context of this Agreement:
2.7.1 all trading undertaken by the Principal is as principal;
2.7.2 we shall have no relationship with, or owe any duty (including but not limited to any duty of best execution) to, any of your customers, regardless of whether or not such customers have been notified by you of the existence of this Agreement;
2.7.3 none of your customers shall have any recourse to us or any of our affiliates;
2.7.4 we shall not communicate with, or take any instructions from, any of your customers; and
2.7.5 you are and shall continue to be responsible for all of your dealings with your customers and for complying with all applicable laws and regulations in respect thereof. Without derogation from the generality of the foregoing, you will not represent or suggest to any of your customers or to any other person that we have any liability in connection with, or is responsible for (whether individually or jointly), such dealings between you and your customers.