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投資服務之條款及細則
投資服務之條款及細則
第一部份 投資服務之一般條文
1. 定 義
1.1 在本條款及細則中，除非在上下文另有規定，否則下述的文字及詞語將具有下列所述的含意：-
「帳戶」 | 指閣下現在或將來以閣下名義在本司開立的一個或多個 或全部的現金帳戶或保證金帳戶或同類型帳戶。 |
「帳戶指令”」 | 指由本司指定的公司、合夥企業、獨資、個人或聯名帳戶開戶表格、印鑑卡及其他關於帳戶及/或投資帳戶運作 或使用服務的文件。 |
「協議」 | 指閣下與本司就關於投資帳戶所訂立及不時修改、更改、修訂、補充關於服務及帳戶的書面協議，包括但不限於帳戶指令、本條款及細則及閣下就服務簽署予本司 的其他所有文件。 |
「適用法律」 | 指所有適用於服務及交易，不論在香港或其他地方，之 法律、規則、規例、指引、守則、指令、指引照會及通函。 |
「聯營公司」 | 指本司位於香港或其他地方的直接或間接的控股公司、 附屬公司、關聯公司或其他分行。 |
「認可財務機構」 | 與該條例項下的認可財務機構釋義相同。 |
「授權人員」 | 指閣下委任及不時變更的並為本司接納的有權為操作帳 戶或使用服務的任何事項而發出指示的授權人員。 |
「營業日」 | 指香港持牌法團營業的任何一天(不包括星期六及星期 日)，於相關交易或服務另有規定者除外。 |
「現金帳戶」 | 指閣下與本司開立，任何根據開戶指令中指明為現金帳 戶並可買賣證券的帳戶，就此本司不會提供該融資。 |
「中央結算系統」 | 指由中央結算設立及營運的中央結算及交收系統。 |
「中央結算系統保管人」 | 指中央結算委任以提供中央結算系統保管人和存管人服 務的人士。 |
「中央結算系統代理人」 | 指中央結算的代理人公司或中央結算委任提供中央結算 系統代理人服務的其他人士。 |
「結算所」 | 就聯交所而言，是指中央結算；就任何外地證券交易所 而言，則指向該外地證券交易所提供類似中央結算服務的結算所。 |
「客戶款項規則」 | 指香港法例第571 I 章證券及期貨(客戶款項)規則。 |
「客戶證券規則」 | 指香港法例第571 H 章證券及期貨(客戶證券)規則。 |
「有關抵押品」 | 指現在及將來本司或其他人士代本司持有、託管或控制 |
所有由閣下向本司提供、本司代閣下購買或收取或以其 他任何形式獲得的任何證券、款項或其他財產，而該等財產已根據保證金帳戶抵押予本司作為押記。 | |
「業務代理」 | 指代表本司在香港或其他地方執行交易或結算的代理 人，包括但不限於交易所或結算所的任何成員。 |
「電子交易服務」 | 指由本司提供的，使閣下能透過其發出電子指示進行買 賣、處理或以其他方式處置證券的任何設施和接連資訊服務。 |
「合資格證券」 | 指中央結算不時指定和接受以在中央結算系統存放、交 收及結算的證券。 |
「交易所」 | 指聯交所和任何外地證券交易所。 |
「交易規則及規例」 | 指交易所或結算所不時頒佈適用於服務及/或交易的規則 及規例，及相關交易所或結算所的市場慣例。 |
「FATCA」 | 指美國《海外帳戶稅收合規法案》。 |
「外地證券交易所」 | 指獲准於一個國家或地區運作的證券交易所。 |
「中央結算」 | 指香港中央結算有限公司。 |
「香港」 | 指中華人民共和國香港特別行政區。 |
「使用者密碼」 | 指與通行密碼一併使用的進入本司提供予閣下的電子交易服務、互動音頻回應服務、流動電話交易服務及任何 其他電子服務的私人身份密碼。 |
「保證金」 | 指本司不時以保證金(包括但不限於，首筆保證金和追加保證金)、變價調整、現金調整或其他方式，向閣下要求的款額(不論是現金或非現金抵押物)，以保障本司免受就保證金融資下取得的款項或閣下合約有關的現在、未來或預期的保證金融資或其他和/或閣下合約的責任所引致任何損失或虧損風險，包括但不限於相關的結算所保證金( 如適用)。 |
「保證金帳戶」 | 指閣下與本司開立，任何根據帳戶指令中指明為可買賣 證券的保證金帳戶，並且本司會提供保證金融資。 |
「保證金融資」 | 指由本司向閣下提供的受本司絕對酌情決定的條款所規 管的保證金融資。 |
「保證金要求」 | 指由本司不時指定關於保證金收取及規範的要求，包括 但不限於，由本司絕對酌情決定及通知適用於證券的保證金比率。 |
「場外交易市場」 | 指櫃檯交易市場。 |
「通行密碼」 | 指與使用者密碼一併使用的進入本司提供予閣下的電子交易服務、互動音頻回應服務、流動電話交易服務及任 何其他電子服務的私人密碼。 |
「風險披露聲明」 | 指由本司就有關交易或產品相關風險及特性而向閣下提 供的風險披露聲明，最新版本載列於本條款及細則第9部份。 |
「證券」 | 與該條例項下的證券釋義相同。 |
「聯交所」 | 指香港聯合交易所有限公司。 |
「證監會」 | 指《證券及期貨事務監察委員會》。 |
「該條例」 | 指《證券及期貨條例》(香港法例第 571 章)。 |
「服務」 | 指根據本條款及細則提供的服務，包括但不限於證券買 賣及電子交易服務。 |
「簽署安排」 | 指閣下指定的及不時變更及由本司接納的一套關於有權 操作帳戶或使用服務的人士的簽署安排。 |
「簽字式樣」 | 指有權操作帳戶或使用服務的人士的簽署式樣。 |
「結構性產品」 | 與該條例項下的結構性產品釋義相同。 |
「結構性產品交易」 | 指閣下根據本條款及細則進行的結構性產品項下的交 易。 |
「交易」 | 指關於購入、認購、出售、交換或以其他方式處置任何種類或所有種類證券的交易，包括（但不限於）證券保管、提供相關代理人或託管證券及在協議項下或依據本條款及 細則而施行的其他交易及結構性產品交易。 |
「美國人士」 | 指任何於 FATCA 項下被定義為美國人的人士，及包括下述任何一類或多類的人士：- (i) 美國公民或居民； (ii) 並非美國公民或國民，但已符合《1986 年國內收入法》(經修訂)及/或任何其他適用的法律、規則及規例規定下的「綠卡」測試或在相關曆年「在境內逗留相當長時間」測試的人士； (iii) 選擇作為美國稅務居民的人士；及 (iv) 不論其入息來源，須就其全球範圍內的入息繳納美國聯邦入息稅的任何其他人士。 |
1.2 本條款及細則之標題僅為方便閱讀而添加，並不影響本條款及細則的解釋及無法律效力。
1.3 除非另有說明，在本條款及細則中，凡提及條款及分條款，即指本條款及細則內的條款及分條款。
1.4 在本條款及細則中，除非上下文有不同的要求，否則表示單數之詞語同時亦含複數之意思，反之亦然。表示其單一性的詞語包括任何性別之意思。
1.5 在本條款及細則中所指之任何一方當事人均被視作包括其繼承人及容許的受讓人。
1.6 在本條款及細則中所指的條例，均被視作包括不時修訂、延展、重新制定的法例及其規則及規例。
1.7 在本條款及細則中所指的「本條款及細則」或其他文件，除非另有規定，均視作包括對本條款及細則或其他文件的不時加以任何方式修訂、延展、代替、取代及/或補充的版本及就本條款及細則或其他文件不時進行修訂、延展、代替、取代及/或補充的文件。
1.8 在本條款及細則中，凡提及「本司」即指「第一金和昇證券有限公司」；在本條款及細則中，凡提及「閣下」，即指不時於「第一金和昇證券有限公司」開立投資帳戶或使用投資服務的閣下。
2. 服 務 的 提 供
2.1 本司可絕對酌情根據本條款及細則、適用法律及交易規則及規例向閣下提供任何服務。
2.2 服務將於本司絕對酌情權決定的營業時間內提供。
2.3 於適用法律容許的範圍內，本司毋須於事先通知閣下的情況下，有權於任何時候部份或全部地撤回、取消或撤銷服務。
3. 指 示
3.1 閣下同意根據不時由閣下提供予本司的帳戶指令、簽字式樣及簽署安排就帳戶、服務及交易的所有事項或附帶的事項發出指示。
3.2 本司可按絕對酌情權拒絕接受或執行指示而毋須作出任何解釋。倘若指示被拒絕，本司將採取一切合理行動儘速通知閣下，但前提是本司毋須對未能儘速通知閣下承擔責任。
3.3 所有閣下給予本司的指示，應根據本條款及細則及受適用法律及交易規則及規例被遵循及執行。
3.4 關於閣下就服務或交易的指示，除非本司發出與此相反的通知，否則本司將作為閣下的代理人或主事人(於協議中注為相關交易或其他方式)。
4. 授 權 人 員
4.1 閣下須以書面通知本司及向本司提供授權人員的詳細資料及簽字式樣連同附有其他由本司規定的資料。除非本司與閣下另有書面協議，授權人員被授權可根據帳戶指令、簽字式樣及簽署安排就帳戶及服務的所有事項發出指示，但下列事項除外：-
(i) 申請開立新戶口或設立新服務；
(ii) 更改 授權人員或簽署安排；及
(iii) 更改 帳戶持有人的地址、聯絡號碼或其他個人資料。
4.2 除非本司與閣下另有書面協議，任何授權人員及/或簽字式樣及/或簽署安排的任何更改、增加或撤銷均不會被視作生效除非及直至本司已實際收到令本司滿意的關於上述更改、增加或撤銷事項的文件及/或書面授權及有合理的機會就上述各項作出回應。
4.3 除非本司與閣下另有書面協議，任何有效的關於授權人員及/或簽字式樣及/或簽署安排的更改、增加或撤銷均適用於所有帳戶、服務或交易。
5 . 責 任 彌 償 與 保 證
5.1 於適用法律容許的範圍內，本司因疏忽或失責而需對閣下承擔的責任將不包括非直接、相關、懲罰性的損害、支出、損失或成本及利潤的賠償。
5.2 閣下向本司xx與保證(此等xx與保證將被視作於根據協議而進行的交易或根據協議提供的服務的當天由閣下重新作出)：-
(i) 閣下有全面的權力執行及交付協議及其他任何有關之文件，有全面的權力履行協議下的義務及每項交易，並且已採取一切必要的行動授權上述各項的執行、交付及履行；
(ii) 任何上述條文提及的執行、交付及履行將不會違反或違背任何適用於或對閣下具約束力的法律，或迫使閣下的資產產生了留置權、擔保權益或產權負擔；
(iii) 閣下就協議需取得所有政府、監管機構或其他方面的同意已取得並完全有效。所有上述同意的全部條件亦已經遵守；
(iv) 協議下的義務對閣下構成合法、有效及具約束力的義務並可按其條款付諸執行；
(v) 閣下將遵守所有不時適用於本司及閣下的任何相關司法管轄區、交易所、市場或監管機構的法律 、規則 、規例 、指引 、通函 、守則及披露要求；
(vi) 閣下須即時提供或設法提供予本司所需的相關資料及協助以便本司可履行及遵守協議下的義務；及
(vii) 當帳戶是客戶帳戶時，閣下設有可靠的制度去確認客戶的身分及有適當的制度及控制對將存放於已混合的戶口的款項再分配予背後的個別客戶。另外，閣下對用於開立帳戶及存入帳戶的款項的來源有確切的了解。
5.3 於適用法律容許的範圍內，閣下保證及承諾按本司的要求追認及確認任何本司合理地履行本條款及細則的責任或義務時合法地所作出的行為、契據、事項或作為。
5.4 於適用法律容許的範圍內，閣下保證及承諾全部及有效地彌償本司及本司的代理人及員工因本司行動而產生的所有成本、費用、責任及支出。
6. 違 約 事 件
6.1 任何下列事件均會構成違約事件：
(i) 閣下未能繳付任何根據協議應付的款項；
(ii) 閣下違反任何協議下的條款及細則；
(iii) 繼續履行協議下的條款及細則會變成非法或被任何監管機構指為非法；
(iv) 本司獲通知閣下死亡或神智不清；
(v) 閣下無力清償債務或出現暫停償還到期債務；閣下已被申請破產或清盤或有關的決議已通過；或閣下被扣押資產；或法院就閣下或其中一位或閣下的重要資產委任接管人；及
(vi) 當本行根據合理的意見認為已經發生或持續發生危害本司利益的情況，而需要採取行動以保障本司。
6.2 在違約事件發生後，本司有權(但非必要)，在未通知閣下及不影響本司其他權利及補救方法及並無解除閣下任何責任的情況下，執行以下全部或任何其中一項的權力：
(i) 即時結清投資帳戶及/或終止投資服務；
(ii) 終止協議之全部或任何部分；
(iii) 取消任何或全部未執行之買賣指令或任何其他代閣下作出的承諾；
(iv) 終止本行與閣下之間的任何或全部合約，在交易所或場外交易市場購入證券或其他資產扎平閣下之空倉，或者在相關交易所或場外交易市場出售證券或其他資產將閣下之任何持倉變現；
(v) 處置本司及/或聯營公司代閣下持有的任何或所有證券、資產或財產，並將其所得款項以及任何結存現金用於償付對本司的所有尚未償還的欠款，包括但不限於本行在轉讓或出售帳戶項下全部或任何證券、資產或財產，及完善權益過程中所合理地衍生的全部成本、費用、法律費用及支出，印花稅、佣金和經紀費等支出；
(vi) 借入或購入任何證券或其他資產以應付代閣下出售的任何證券或資產的交收；及
(vii)按照第一部份第[7]條款結合、併合和抵銷閣下之任何或全部帳戶。
7. 留 置 權 抵 銷 與 併 合
7.1 除本司根據法律有權享有的一般留置權、抵銷或相類似的權利外及在不影響上述各項的前提下，本司可以為其本身及作為聯營公司代理人，在毋須事前通知閣下的情況下：-
(i) 結合或併合閣下在本司或聯營公司內開立的不論是個人或聯名的全部帳戶。本司可以將任何此等戶口內之全部或任何證券、資產、款項或其他財產抵銷或轉撥，用以解除閣下對本司及 /或任何聯營公司拖欠的債務，不論此等義務或責任是實有或或然、主要或附屬、有抵押或 無抵押、共同或分別的；
(ii) 若閣下有任何款項到期而未付，保存所有或任何存放於或由本司及/或聯營公司以其他方式代閣下或以閣下名義持有的證券、資產、款項或任何其他財產，不論上述證券、資產、款項或其他財產是屬於保管或其他性質。同時，本司可將上述證券、資產、款項或 其他財產或其任何部份以本司決定的價格及方式出售。為此，本司可聘用代理或經紀並可將所得款項於扣除本司所有費用及支出後，用以抵銷協議下的任何或所有欠款或拖欠。
7.2 本司可於任何時候毋須通知閣下酌情將帳戶內或服務下的款項以合法途徑按記項當天由本司決定的兌換率兌換成任何貨幣以達到結合、合併或抵銷的目的。
7.3 如果任何該等抵銷或合併需要將一種貨幣兌換為另一種貨幣，該兌換應按在進行合併或抵銷時本司在其正常業務運作中就該等貨幣所用的匯率(由本司決定，並在一切方面對客戶有約束力)計算。
8. 不 得 扣 減
8.1 所有由閣下付予本司的款項必須以約定貨幣或本司指定的貨幣支付。該等款項不得扣除任何現時或將來之稅項、徵費、費用、收費或預扣。同時，並不得進行任何抵銷、反索償或扣減。
9. 收 費 與 利 息 等
9.1 本司有權就閣下操作或保持任何帳戶或提供任何服務而按照本司不時公佈的收費、費用及佣金表收取或徵收任何收費、費用及/ 或佣金。惟本司有權於給予閣下不少於30天的事先書面通知後，修改、修訂或更改費率或計算基準。上述的費用表可於閣下要求時提供。
9.2 閣下須按本司不時規定的利率，支付需付予本司的款項所衍生的利息。利息由款項到期支付日起計算直至實際付款日為止及根據本司現行的對有關幣值的實務按實際天數以365天為一年或360天為一年計算。
10. 結 單 及 確 認 書
10.1 閣下有責任審閱及核對本司就任何交易及/或其他附帶事項發出的通知書、結單或確認書上的每項記項之準確性，如閣下認為任何記項有錯誤、異常及/或未經授權，閣下必須立即以書面通知本司。除非本司在列載有關記項的通知書、結單或確認書發出之日期起計7天內或其他本司規定的時限內實際上收到上述通知，否則所有顯示於此等通知書、結單或確認書上的記項均被視作正確、正常及已獲恰當授權。
10.2 儘管 上述第10.1分條款的規定，閣下就下列事項享有提出追索的權利：-
(i) 由於任何第三者偽冒或詐騙而引致的未經授權的交易，而本司對該等交易未能採取合理謹慎及合理技巧加以識破；
(ii) 由於本司的任何僱員或代理人偽冒或詐騙而引致的未經授權的交易；及
(iii) 由於本司疏忽或故意失責而引致的其他未經授權的交易。
11. 不 可 推 翻 的 證 據
11.1 除非存在明顯的偏差，由本司保存有關於任何帳戶及/或服務的帳冊、紀錄及筆記(包括但不限於，錄音帶、由本司員工或代理與閣下交往期間手寫的資料)
將會於所有作為中，成為不可推翻的證據。
12. 聯 名 及 合 夥 帳 戶
12.1 除非另有規定，本第12條條款將適用於帳戶持有人或服務使用者多於一個人的情況，例如聯名帳戶持有人、信託人或遺產代理人或服務使用者。
12.2 當帳戶或服務使用者多於一個人時，所有帳戶持有人或服務使用者均須共同及分別地承擔協議項下的所有或任何義務或責任。
12.3 除非本司與閣下另有書面協議：-
(i) 每一個聯名帳戶持有人或服務使用者均有全面及完全的權力在毋須通知其他聯名帳戶持有人或服 務使用者的情況下與本司進行業務；
(ii) 任何一個聯名帳戶持有人或服務使用者均可有效地及最終地解除對本司的義務或責任；及
(iii) 任何本司給予聯名帳戶其中一名持有人或其中一名聯名服務使用者的通知或通訊均會被視作送達予全部聯名帳戶持有人或服務使用者。
12.4 當任何一位帳戶持有人或服務使用者身故，協議不會因而終止，並保持有效及對其他在世的聯名帳戶持有人或服務使用者仍有約束力。並且，帳戶及服務項下的所有權利及權益將按照生存者取得權的規則施行並歸賦於帳戶或服務的生存者。
12.5 儘管上述條文，本司保留下列權利：-
(i) 於採取任何行動前，向所有或多於一位的聯名帳戶持有人或服務使用者尋求共同指示；及
(ii) 倘若本司收到其中一名聯名帳戶持有人或服務使用者的指令與其他指示有衝突及不一致，本司有權通知一個或多個聯名帳戶持有人或服務使用者此等衝突及不一致及/或不執行有關指示直至本司收到認為恰當的進一步指示為止。
12.6 倘若閣下是合夥企業，下列條文將會適用：-
(i) (ii) | 除非本司另行同意，閣下的合夥協議不會對本司構成任何約束力(無論 x司是否知悉該合夥協議 )，而閣下的帳戶將受本條款及細則規管； 所有合夥人將共同及分別地承擔協議項下的義務及責任； | |
(iii) | 即使合夥人的組成有任何變動，其餘合夥人仍可繼續處理聯名帳戶或 | |
(iv) | 使用服務，直至本司收到實 際的變更通知為止；及 除非本司另行同意，閣下於組織變更時，將向本司提供新的帳戶指令 | |
及開立新戶口。 | ||
13. | 保密 |
13.1 本司應對涉及帳戶及/或服務的資料予以保密，但在受所有適用法律及交易規
則及規例規限的前提下，本司可在未經閣下事先同意的情況下，於被要求時將任何該等資料提供給監管機構或執法機構，又或可不時提供給本司的分行及/或聯營公司以便其向閣下提供服務。
14. 利 益 衝 突 與 披 露
14.1 本司及/或聯營公司與閣下可能會直接或間接在交易中，有利益、關係、安排或責任上的衝突(下稱「重大利益」)。本司會採取一切合理步驟，並根據所有適用法律令閣下於該等交易中得到公平的對待。
14.2 儘管存在重大利益，本司有權在受所有適用法律規管的前提下為閣下就交易提供意見或提議或進行交易，又或以閣下的代理人身分行事或提供其他服務,而本司無責任向閣下披露由上述服務而產生的利益。
14.3 在受所有適用法律規管的前提下，(本司除須向閣下通知所收取的有關收費或佣金外)無責任向閣下解釋或披露本司在為交易提供服務上收取的任何利益、佣金或報酬(不論從閣下身上或因重大利益或其他方面獲得)。
15. 收 帳
15.1 本司有絕對權利聘用催收代理人以收取閣下在協議下到期未付的任何款項。閣下同意並確認已被忠告，於適用法律容許的範圍內，閣下須以全額賠償基準賠償本司在聘用催收代理人所合理地產生的全部費用、收費及支出。
16. 不 可 抗 力
16.1 本司同意竭盡所能地以及時的方式履行本司的義務，但倘若本司由於超越其合理控制範疇的原因，包括但不限於，通訊、系統或電腦故障、市場失效、暫停、故障或關閉、或任何法律或政府或其他監管要求的實施或改變(包括釋義的更改)而不能或需延遲履行責任，則本司不須對此承擔責任。本司亦毋須對閣下因上述原因而遭受的損失或損害負責。
17. 寬 免
17.1 本司不行使或執行或遲延行使或執行協議下的任何權利、補救方法、權力或特權不應視為放棄有關權利、補救方法、權力或特權。單一地或部份地行使或執行不應視為放棄有關權利、補救方法、權力或特權。單一地或部份地行使或執行有關權利、補救方法、權力或特權應不排除進一步行使或執行或以任何其他方式行使或執行任何其他有關權利、補救方法、權力或特權。協議賦予本司的權利、補救方法、權力和特權是累加的，將不會取代法律或本司持有 的其他文件所賦予本司的權利、補救方法、權力或特權。
18. 承 繼 及 轉 讓
18.1 協議對協議的當事人及其承繼人及其容許的受讓人均具約束力，有關繼承人及容許的受讓人均享有協議項下的權益。
18.2 閣下不可轉讓任何協議下的權利、權益、權力、義務或責任。
18.3 本司可以隨時轉讓協議下的所有或部份權利或利益，而受讓人應有與本司相同的權利或利益，猶如受讓人是協議的當事人一樣。閣下通過本18.3分條款放棄及寬免質疑此等轉讓的有效性的權利。
19. 條 款 的 獨 立 性
19.1 倘若協議的某些條文於任何時候被禁止或被法庭裁定不合法、無效或在法律上不能執行，此等條文將被視作從協議中分割出去及變得無效，但不會因此而修改了協議的其他條文，而協議的其他情況、合法性及可執行性均不受影響。
20. 修 訂
20.1 閣下同意及接受，在受所有適用法律規管的前提下，本司可於任何時候通過張貼有關書面通知於本司營業地點的顯眼處或其他本司酌情認為合適的方式單方面修改本條款及細則的條款及細則。
21. 通 知
21.1 本司就任何根據協議由本司發出的通知或付款要求可以以郵遞、專人送遞、電報、電傳、電郵或圖文傳真方式送達。如以郵遞方式發出，則於投寄翌日已視作有效地送達(儘管其後該郵件由於未能送達而被退回)；如以專人送遞、電報、電傳、電郵或圖文傳真方式發出予閣下、其法律代表或遺產代理人於本司記錄所載及最後所知的地址，則在該專人送遞、電報、電傳、電郵或圖文傳真送發或發出當日已視為有效地送達。
21.2 閣下或閣下的法律代表或遺產發出或提出的通知可採用郵遞、專人送遞、電報、電傳或圖文傳真方式將其送達至本司註冊地址或閣下或上述人士最後獲知的本司地址。除非及直至本司實際上收到該郵遞、專人送遞、電報、電傳或圖文傳真，否則不應被視為有效送達。
22. 時 間 要 素
22.1 就協議項下的任何條款而言，時間為協議的要素。
23. 提 供 及 變 更 資 料
23.1 閣下確認及承認，閣下提供予本司的資料為真實、全面、準確及最新的。閣下同意於任何主管當局不 時作出適當要求時，閣下會提供進一步資料。
23.2 閣下及本司承諾，倘若根據協議項下所提供之資料有任何重大變動，將通知對方。特別是，閣下及本司同意：-
(i) 倘本司業務出現任何重大變動，而該等變動可能影響本司向閣下提供之服務，則本司將會通知閣下有關變動；及
(ii) 閣下將通知本司有關姓名、地址、詳細資料或其他資料之任何變動，並按本司合理之要求提供證明文件。
24. 貨 幣 風 險
24.1 對於帳戶項下或關於服務的以外幣進行的交易，閣下承認由於匯率的波動，此等業務有可能導致盈虧，該等盈虧須全部由閣下承擔。
25. 合 適 性
25.1 假如本司向閣下招攬銷售或建議任何金融產品，該金融產品必須是本司經考慮閣下的財政狀況、投資經驗及投資目標後而認為合理地適合閣下的。本條款及細則的其他條文或任何其他本司可能要求閣下簽署的文件及本司可能要求閣下作出的聲明概不會減損本條款的效力。
25.2 以第25.1條款為目的，「金融產品」指任何該條例所界定的證券、期貨合約或槓桿式外匯交易合約。
26. 第 三 方 權 利
26.1 於不損害第26.3條條款的情況下，當一名人士並非本條款及細則的當事人，則其於《合約(第三者權利)條例》(香港法律第623章)(下稱「第三者條例」)項下並無權力執行或享有本條款及細則任何條文的利益。
26.2 儘管本條款及細則的任何條文，於任何時候撤銷或修訂本條款及細則毋須取得非本條款及細則的當事人之同意。
26.3 任何本司的董事、主管人員、員工，附屬機構或代理可以，憑藉第三者條例，依賴明確賦予該等人士的權利或權益之任何本條款及細則項下的條文(包括但不限於，任何彌償、限制或責任的豁免)。
27. 稅 務 身 份
27.1 閣下謹此證明及確認，閣下並非美國人士，亦並非需繳交美國稅項的人士。特別是，但不限於，閣下亦非一所根據美國或其州份或其政治分支(包括哥倫比亞特區或任何其他美國州份)的法律成立或組成的可課稅法團或合夥公司。閣下謹此同意，本行或任何聯營公司於必要時分享或發放閣下的資料及訊息予本地及海外監管、稅務或其他主管當局以確立閣下於任何司法管轄區的稅務責任。閣下確認及同意，本行或任何聯營公司被授權可應本地及海外監管、稅務或其他主管當局的不時要求，並根據適用法律，包括但不限於， FATCA，從帳戶中預扣款項。如稅務身份有任何變動，閣下謹此承諾即時以書面告知本行或任何聯營公司。
28. 適用法律及司法管轄權
28.1 協議各方面均受香港法律管轄並按香港法律解釋。協議各方當事人不可撤銷地接受香港法院的非專屬管轄權所管轄，但本司有權在本司選擇的其他有司法 管轄權的法院強制執行協議。
第二部份 證券服務之特別條文
x特別條文須與證券服務之一般條文一併閱讀。倘若該等條文與本特別條文存在差異
，則以本條文為準。
1. 授 權
1.1 本司被授權根據所有適用法律、交易規則及規例受其他不時的場外交易市場的市場慣例進行交易及提供服務。所有以此進行的交易及已提供的服務均對閣下具約束性。
1.2 本司有不受約束的權力指示業務代理進行交易，閣下並承認業務代理的商業條款及交易規則及規例或場外交易市場關於有關交易的市場慣例。上述各項對閣下均具約束性。就業務代理的償付能力，本司不會給予任何保證，且無須對閣下因業務代理的破產所遭受或招致的任何損失或損害承擔任何責任。
1.3 閣下確認及同意，適用法律及交易規則及規例可能禁止本司以閣下名義落盤出售客戶並不持有的證券 (“賣空指令”)。閣下承諾及保證，在發出賣空指令前，其已訂立了確保有關證券於指定交收日交付的合法及有效證券借貸或本司可以接受及根據交易規則及規例的其他形式安排。再者，在執行前述賣空指令前，閣下將向本司提供關於保證前述賣空指令已有如本司所明確規定的證券借貸安排文件。
2. 交 易 規 則
2.1 於進行交易時，本司有權根據所有適用法律、交易規則及規例及市場慣例的要求或準許採取行動。本司有權按本司認為是否合適而採取或不採取行動以符合所有適用法律、交易規則及規例及市場慣例的要求。上述的行動對閣下均具約束力。
2.2 於進行交易時，本司會以代理人身分或當事人身分按照條款及細則行事。除非另有書面規定，本司將以閣下代理人身分進行交易或為閣下提供服務。
3. 交 收
3.1 當本司須為閣下的任何一項交易進行交收的期限屆滿，但本司仍未有收到相關款項、證券或資產；或閣下未有採取所有必須的行動去確保適當和及時交收此等交易；又或閣下即將未能或本司真誠地相信閣下未能履行閣下對本司或第三者的責任，則本司有權（但非必要）於給予閣下合理預先通知（口頭或書面），按本司絕對酌情認為合適的價格及方式取消、結清、終止或冲銷所有或任何交易，買入證券或資產對冲閣下的空倉及賣出、套現、押記、抵押或以其他方式處理本司及／或聯營公司為閣下持有或有權代閣下收取或控制的款項、證券或其他資產，而本司毋須為虧損或價格的減少而負責。同時，本司可進行或不進行其他交易或事項（包括運用為閣下持有的款項）以減低或了結閣下已許諾的任何交易、倉量或承擔下的責任。上述行動產生的費用及開支均由閣下負責。
3.2 倘若根據所有適用法律、交易規則及規例及市場慣例，貸記予閣下的現金、證券或 其他資產須予以沖銷，則本司有權將其予以沖銷。
3.3 閣下所有於本條款及細則項下的交易均須通過由本司絕對酌情指定的帳戶進行結算。
4. 客 戶 款 項
4.1 閣下於賬戶中款項 ( 在解除閣下欠本司的所有債務後 ) 所獲取的對待及處理須符合該條例及客戶款項規則的規定。本司代閣下於香港收取並持有的有關款項 ( 在解除閣下欠本司的所有債務後）( 包括但不限於，由交收有關交易所引 致的債務 ) 將被存入本司在認可財務機構或獲證監會批准的任何其他人士處在香港維持並指明為信託賬戶或客戶賬戶的獨立賬戶。
4.2 只要閣下仍欠本司任何債項時，本司有權拒絕閣下提取款項的要求，以及閣下在未獲本司事先同意時，無權提取任何款項。
4.3 除非有相反指示，否則賬戶內所有款項 ( 扣除應付本司的佣金、收費、費用及其他款項後 )，將由本司因應個別情況，選擇於認可財務機構或證監會為執行客戶款項規則而批准的其他人士設立及存置的一個或以上獨立客戶賬戶，代表閣下持有，風險由閣下自行承擔。
4.4 除非另有相反指示，否則有關在香港以外地區交收的交易款項，將由本司在交易交收國家內揀選一家銀行持有。
4.5 除非本司與閣下以書面方式提出相反協議，否則閣下知悉及同意，於任何獨立客戶賬戶內持有屬於閣下的任何款額，將不會產生任何以閣下為受益人的應計利息，而本司則有權享有因保留為閣下持有的任何款項在該等賬戶內而產生 的利息。
4.6 本司概不就任何財務機構（包括任何銀行、機構或其他經本司挑選的人士，而彼等持有屬於閣下而由本司代閣下支付予該第三方的款項）違約而承擔任何法律責任。
4.7 本司獲授權，可於任何時候毋須通知閣下：
(a) 根據本條款及細則而提供服務或執行交易，可全權酌情決定認為適當或必要的情況下，於任何獨立客戶賬戶內存款及提款；
(b) 轉撥備取資金及/或證券至閣下於任何聯營公司開立的賬戶內，以完成閣下發出買賣證券的任何指示；及
(c) 指示任何聯營公司將閣下於該聯營公司存置的任何賬戶內的資金結餘，轉撥至閣下於本司存置的任何賬戶，以完成閣下發出買賣證券的任何指示。
4.8 根據客戶款項規則第 8 條，閣下於第 4.7 條給予的授權應被視作閣下給予本司的常設授權，可於第 4.1 條所述的獨立賬戶存入、支付、轉移或以其他方式提取客戶款項，以達致第 4.7 條所述目的。除非閣下撤銷常設授權，此等常設授權為期 12 個月有效(由批准開設賬戶當天起計)；其後若本司在此等常設授權即將屆滿時給予閣下不少於 14 天書面通知，而閣下於常設授權期限屆滿後未有對續期提出反對，常設授權即被視為按相同條款與條件續期 12 個月
。本司須於常設授權上一期限屆滿後一星期內，向閣下發出確認常設授權續期的書面通知。
4.9 閣下可隨時給予本司書面通知，撤銷根據第 4.7 條給予的授權。然而，撤銷授權僅會在本司實際收訖該書面通知及本司有合理時間處理通知時，方會生效。於本司實際收訖閣下撤銷授權書面通知前，根據前述授權而進行的交易對閣下具約束力。
5. 客 戶 證 券
5.1 本司獲委任為閣下的託管人，為閣下提供證券託管服務。閣下同意在沒有得到本司書面同意前，不會對構成任何賬戶部份的任何證券和資金進行按揭、抵押、出售、發行認股權或以其他方式進行買賣。
5.2 對於本司在香港代閣下保管而持有的任何證券，本司可按其酌情權決定進行以下處置：
(a) ( 對於可註冊證券 ) 以閣下的名義或本司代名人的名義登記；或
(b) 以安全保管方式存放於認可財務機構、核准保管人或另一獲證監會發牌進行證券交易的中介人在香港開立的獨立賬戶，而該賬戶是指定為信託賬戶或客戶賬戶的獨立賬戶。
5.3 若本司按本條款為安全保管而持有證券，本司或促使本司委任的代名人或託管人可以 :
(a) 為閣下賬戶收取該證券帶來的任何股息或其他收益，並存入閣下賬戶或按照與閣下議定的方式支付予閣下。當該證券為代公司的客戶持有的同一大量證券的一部份時，閣下有權根據該證券在本司持有的全部此種證券中所佔的份額，在持股產生的收益中得到相應的份額。當股息以現金股息或其他形式派發時， 如閣下沒有事先書面提出不同的指示，本司有權代表閣下選擇及接受現金股息；及
(b) 在有足夠的時間作出相應安排的前提下，本司可按閣下的指示，行使該等證券附有或授予的投票權和其他權利。如果該行使需要支付有關該行使的任何費用或支出，除非及直至本司收到有關行使所需的全部費用，否則本司或其代名人將毋須遵從閣下的任何指示。
5.4 本司及其代名人向閣下交還的證券不必與從閣下處收取或代表閣下收到的證券完全同一，而可以在閣下開戶的本司辦事處向閣下交還類同數量、種類和名稱的證券。
5.5 本司根據本條款為閣下保管的證券之風險將由閣下完全承擔，及本司將不會對閣下所遭受的任何損失和損害承擔責任或義務，除非這類損失或損害是由本司的疏忽或本司方面的欺詐行為直接導致的。
6. 確 認
6.1 本司於交易執行後會(i)儘速以電話或圖文傳真；或(ii)於法定時間內發送予閣下交易確認書或帳戶結單，通知閣下有關的交易。本司會向閣下發出一份顯示當月交易摘要的月結單，當月無交易紀錄者除外。
6.2 閣下有責任小心審閱交易確認書、 帳戶結單及月結單，並於本司發出上述文件的 7 日或本司絕對酌情指定的期限內，將於該等文件內的錯誤、失誤或異常項目以書面通知本司。如果閣下未有於上述期限內以書面提出異議，則交易確認書、帳戶結單及月結單的內容均被視作正確及具終局性，並對閣下具約束力。
7. 現 金 帳 戶
7.1 本司的現金帳戶是根據投資服務之一般條文及證券服務之特別條文（如適用
）而開立。
7.2 本司不必向閣下交還原本從閣下處收取或代表閣下收到的證券完全同一，而可以向閣下交還類同種類、面值、數量、名稱及級別的證券。
7.3 在不損害賦予本司任何其他權力及補債的原則下，及受限於適用法津及交易規則及規例前提下，有司獲授權處理任何不時收取或代閣下持有的證券，以作清償閣下欠本司或第三者的任何責任。
8. 保 證 金 帳 戶
8.1 本司的保證金帳戶是根據投資服務之一般條文及證券服務之特別條文（如適用）而開立。
8.2 保證金融資是根據證券服務之特別條文及其他所有由本司不時規定的條款提供予閣下。
8.3 閣下同意依照本司的要求維持保證金，並於本司要求時及在規定的時間內(可能於當天)支付追加及/或追補保證金，以保障本司免受因現行、將來或預期的交易所產生的損失或損失的風險的影響。
8.4 儘管當閣下未能應本司要求支付保證金、追加及/或追補保證金時，本司有權結清部份或全部閣下的持倉及/或將其視作違約事件。但是，本司無義務結清任何交易或對根據閣下指示開立的或產生的持倉採取任何行動。特別是，閣下未能按照付款要求支付保證金、追加及/或追補保證金並不促使本司必須結清此等交易。
8.5 閣下根據證券服務之特別條文須向本司繳付的所有保證金及其他款項，必須以已結算款項支付及存入本司不時指定的戶口。如閣下根據適用法津及交易規則及規例，因稅務或其他要求須扣減或預扣款項，閣下有責任向本司繳付令本司收取淨額等同於全數的款項，猶如未有扣減或預扣一樣。
8.6 閣下根據證券服務之特別條文須向本司支付的任何款項，可於閣下的任何資產中扣除，但須以書面通知閣下。本司有權出售、變現或處置資產(包括任何保證金、已押記及保管的資產)及用變現所得的款項付清該等欠款並對資產擁有追索權。
8.7 本司可絕對酌情不時地更改保證金要求。閣下將獲得本司提供按所持抵押品市值的某一百分比作為額度的保證金融資。該百分比由本司不時酌情決定。過往的保證金要求不可視作為不變之先例，而經更改的保證金要求一旦被確定，將適用於現有持倉以及受該更改所影響的合約下新的持倉。
8.8 為保證閣下履行證券服務之特別條文的義務，閣下以第一固定法定押記形式將下列各項以持續抵押方式押記予本司：-
(i) 所有閣下就不時貸記帳戶的證券、現金及其他資產所擁有的權利、所有權、特權及權益；
(ii) 閣下於證券服務之特別條文下的所有權利，包括但不限於，閣下的所有現金交付、證券或其他資產的權利；
(iii) 所有當時存放於本司或由本司持有的證券或其他資產或其證書或所有權證明文件；
(iv) 所有由本司代閣下持有的款項、所有不時存放該等款項的戶口的權益及閣下所有關於該等款項或戶口的信託項下的權利、所有權及權益；及
(v) 所有及任何本條文載列的資產的或由該等資產衍生的產權及其他權利，包括但不限於任何對託管人、銀行或其他人士的權利。
8.9 本投資服務之條款及細則項下所訂立的押記是一項持續抵押及延續到保證金帳戶項下的所有義務的最終的結餘，不論有任何中期還款或全部或部份解除
。有關抵押品亦是獨立於其他由本司現在或以後就證券服務之特別條文項下的義務所持有的任何其他抵押、擔保或彌償以外。有關抵押品亦不受任何其他存放於本司或由本司持有的抵押、押品、擔保或彌償的影響而受損害或失效，並且仍持續及具十足效力及作用直至本司解除為止。此外，有關保證金融資文件內任何條款或任何提供予本司的其他抵押、彌償或擔保如有違法、無效或不可執行或有失缺，或者任何提供予本司的抵押、彌償或擔保超越權限，並非符合有關人士的利益或未獲正式授權、未有妥為簽署或交付或存在其他促使其違法、無效或不可執行或有缺失的原因，有關抵押品都不會受損害或變得無效。
8.10 只要根據本投資服務之條款及細則仍有未償還的債務，本司有權在未事先通知或獲得閣下同意前，行使其絕對酌情權以其認為適合的條款及方式保障其利益，處置或以其他方式處理任何部份有關抵押品，用以償還未償還的債務以保障本司利益，尤其閣下未能依本司要求提供有關抵押品或保証金時或市場價格發生重大波幅時。如出售有關抵押品後，仍有缺欠，閣下須即時向本司支付，用以彌補該不足之數。
8.11 閣下須按要求向本司即時支付或償還所有與執行或保障本司根據證券服務之特別條文項下享有的任何權利有關的費用 ( 包括追收欠款收費及以足額彌償為基準的法律費用 ) 及開支。
8.12 除本投資服務之條款及細則另有規定外，本司在未有獲得閣下根據適用法律及交易規則及規例所作出之書面授權的情況下，不得將閣下的任何證券為任何目的而移轉、借出、抵押、再抵押或以其他方式處理。
8.13 在受適用法律及交易規則及規例規管的前提及在不損害本投資服務之條款及細則項下條文的一般性的原則下，本司獲授權為以下目的而處置閣下並非押記予本司的證券。同時，本司絕對酌情決定處置閣下那一種證券：-
(i) 履行閣下就證券業務對本司負有的責任，而該責任是指本司將已作為有關抵押品的資產作處置後，閣下仍有未履行的責任；或
(ii) 履行閣下就本司向其提供的保證金融資對本司負有的責任，而該責任是指本司將已作為有關抵押品的資產處置後，閣下仍有未履行的責任。
8.14 在受適用法律及交易規則及規例規管的前提及在不損害本投資服務之條款及細則項下條文的一般性的原則下，本司獲授權為以下目的處置閣下已押記予本司證券。同時，本司可絕對酌情決定 處置那一種證券：-
(i) 履行閣下維持保證金水平的義務；或
(ii) 履行閣下償還或解除由本司所提供的保證金融資的法律責任；或
(iii) 履行閣下就某交易進行交收的責任，而閣下已就該責任提供有關抵押品；或
(iv) 履行閣下證券業務而對本司負有的責任；而該責任是指在本司已將屬於有關抵押品的所有其他資產處置後仍未履行的法律責任。
8.15 就任何證券而言(根據客戶證券規則的條文不適用的證券除外)，閣下謹此授權公司，可用其酌情權以其認為適合的任何方式及用途 ( 包括但不限於作為提供予本司之財務通融之抵押品 ) ，根據所有適用法律，存放、轉讓、借出
、質押、再質押或其他方式處理該等證券。
8.16 買家或其他與本司有業務往來的人士不須查詢任何權力的行使或聲稱的權力的行使的理據是否已出現或該等權力是否變得可以行使，義務是否仍然未履行或行使權力或聲稱的權力的行使的適當性或有效性。同時，此等買家的所有權及地位不會受到質疑。
8.17 閣下以提供抵押的方式不可撤銷地委託本司及由本司不時指定的任何人作為閣下的獲授權人士，擁有完全的替換權力及有權以閣下的名義行事，簽署文件及採取所有需要的行動及步驟以便執行有關抵押品。
8.18 閣下同意不時(費用由閣下自行支付)應本司要求簽署文件及採取由本司所要求的行動及步驟以完善抵押品的權益或保障抵押品，及訂立全新或進一步的抵押利益以便執行有關抵押品。
9. 新 上 市 申 請
9.1 閣下同意遵守，所有規管新上市及/或新發行的證券及其申請及在該新上市及/或新發行的證券的招募書及/或發售文件以及申請表或任何其他相關文件中已載列的條款及細則。閣下並且同意在閣下與本司進行的任何有關交易中均受上述條款及細則的約束。
9.2 閣下承認並理解，關於新上市證券申請的法律和監管要求及市場慣例均會不時作出變更。閣下承諾，會根據上述法律和監管要求及市場慣例向本司提供必要的資料，採取必要的額外行動，作出必要的額外xx、保證和承諾。
9.3 倘若閣下要求本司代 閣下申請新上市證券， 閣下向本司xx、保證及同意：
-
(i) (倘若有關申請是代表證券買賣帳戶提出)閣下絕不再為證券買賣帳戶提出申請，或由任何以閣下代理人身分行事的人士，或其他任何人士為證券買賣帳戶提出申請；
(ii) （倘若閣下以代理人身分代表其他人士之帳戶提出申請)閣下絕不再以代理人身分代表該人士或其帳戶提出申請，而該人士或任何其他以該人士代理人身分行事的人士亦不可再提出申請；
(iii) 該項申請項下之申請人可全權提出申請及持有所申請之證券，且不會由於或因為提出申請或取得該等申請之批准而產生或導致違反世界任何地方之法律、規例或其他規定；及
(iv) 本司有全權代表閣下簽署申請。
9.4 閣下承認及確認，凡屬於除證券買賣外並無任何其他業務且受閣下控制的非上市公司所提出的申請應被視作是為閣下的利益而提出的申請。
9.5 閣下同意及承認，本司會依賴上述之xx及/或保證為閣下提出申請，而發行證券的公司亦會依賴該等xx及保證，決定是否就該項申請分配股份。
10. 託 管 服 務
10.1 根據本司與閣下的協議及本投資服務之條款及細則，閣下委任本司為閣下的託管人從而為閣下提供證券託管服務。 閣下同意在未經本司書面同意前，不會將證券抵押、押記、出售、授予選擇權或以其他方式處理。
10.2 本司會根據所有適用法律及交易所及結算所市場慣例安排將證券以閣下或本司名義進行登記或以託管方式存放。另外，本司將酌情決定的合資格證券數額，交付中央結算系統保管人處保管，或以中央結算或中央結算系統代理人的名義登記或重新發行。
10.3 本司會在獲得知會及閣下有權收取的前提下，代閣下收取股息、利息、付款或其他收益，並於扣除稅款及徵費後盡快將其匯交予閣下或貸記證券買賣帳戶。
10.4 除非本司與閣下另有書面協議，本司毋須出席證券持有人的會議或行使任何權利。
10.5 提取或轉讓證券的指示將受到本司所指定的通知、數量限制、繳款及程序的規管。本司可能需要向出售人或託管人提取證券或按照所有適用法律及市場慣例完成轉讓證券予閣下，另外，由本司不時指定收取證書或文件的地方。
10.6 本司不會對根據本第 10 條條款由本司代閣下持有及保管的證券有關的損失或損害負責。
11. 投 資 顧 問 服 務
11.1 就下述各項，閣下可委任本司為投資顧問：-
(i) 本司接受為提供顧問服務不時交付或存放於帳戶的一切證券；
(ii) 由閣下指明及獲本司接受為提供顧問服務所不時存入帳戶的一切款項；及
(iii) 根據本本投資服務之條款及細則，由投資帳戶或其他戶口所持有的證券產生的一切款項(下稱「投資組合」)。
11.2 本司於接受閣下委任後可不時應閣下要求或主動向閣下提供市場資料、數據
、市場觀點、調研產品、 投資意念、對特定投資項目及風險管理機會的意見
、或投資建議(以下統稱為「投資資訊」)，閣下可自行判斷全部或部份接納或不接納。本司提供任何投資資訊給閣下時，須考慮閣下的財務狀況、投資的目標、投資經驗及投資組合的限制。
11.3 閣下xx及確認(此等xx及確認將被視作於根據協議而進行的交易的當天由閣下重新作出)：-
(i) 投資組合並非由本司管理或監督，閣下須負上管理及監督投資組合的全責；
(ii) 本司無責任更新或復查已提供給閣下的任何投資資訊。在投資資訊提供給閣下後才發生的事件，可能影響投資資訊的準確、正確及適合性。本司並不保證該等證券的走勢會與投資資訊相符；及
(iii) 閣下指示本司進行的交易，可能出現列載於風險披露聲明中的任何或一切風險。
11.4 如本司就任何特定產品，包括但不限於結構性產品，向閣下提供投資意見或其他服務，本司將應閣下要求，向閣下提供有關該等結構性產品的發行機構發佈的產品規格、描述及招募書或其他發售或章程文件。本司對從第三者(包括任何結構性產品發行機構或交易對手)處獲得或發放並提供給閣下的任何資訊，不論是產品規格、描述、招募書、發售或章程文件或其他的資訊的準確性及正確性不承擔任何責任。
11.5 本司對投資組合的表現或利潤不作任何保證。
11.6 本司於法律容許的範圍內，毋須對後述各項承擔責任：失去令投資組合增值的機會、投資組合減值、在事實或判斷上有錯誤或法律錯誤；投資組合出現投資虧損；或在執行協議上的任何作為或不作為。
12. 結 構 性 產 品
12.1 於所有結構性產品交易中，本司可以代理人或當事人身分與閣下進行交易或為閣下提供服務。除本司另以書面聲明外，本司會以當事人身分與閣下進行交易或提供服務。
12.2 在不影響及獨立於所有前述的xx、保證及承諾的前提下，閣下向本司進一步xx、保證及承諾(此等xx、保證及承諾將被視作於根據協議而進行的交易的當天由閣下重新作出)，閣下現在或將來：-
(i) 對結構性產品的投資及其他相關事宜有充分的知識、經驗及了解，能夠評估相關的結構性產品的交易所受到的規管及本司可能不時訂立的法律方面的條款及細則；及
(ii) 有財務資源足以承受因進行結構性產品交易所引致的投資虧損及風險。
12.3 就任何結構性產品交易，本司可應閣下請求及受限於適用法律，向閣下提供清單或摘要，載明有關結構性產品的描述、規格、特性、詳細資料及其他有關細節或其風險(下稱「結構性產品摘要」)。閣下同意、承認及確認，本司毋須對從第三者(包括但不限於，任何衍生或結構性產品的發行機構或交易對手)處獲得或發放並提供予閣下的結構性產品的規格、描述、招募書、發售或章程文件或其他文件的準確性及正確性承擔任何責任。
12.4 閣下謹此同意及聲明將會及被視作於進行結構性產品交易前已細閱有關的結構性產品摘要(如有向閣下提供)，同時充分明白結構性產品的描述、規格、特性、詳細資料及其他有關細節以及涉及的風險。
12.5 閣下確認及同意，閣下如認為合適及有需要，會就結構性產品或其交易尋求獨立及專業的意見。
12.6 閣下同意在閣下發出指示執行結構性產品交易時，須確保帳戶或指定帳戶中有足夠的已結算款項支付交易價值。即使上文另有規定，本司有權(但非必要
)在毋須再行通知閣下的情況下，按閣下的指示進行或執行該項結構性產品交
易，儘管在閣下發出指示時，帳戶的已結算款項不足以支付交易價值。在此情況下，閣下在發出有關指示後應盡快將足夠的款項存入帳戶或由本司同意的其他戶口以支付交易價值。
12.7 閣下根據協議通過本司進行的每項結構性產品交易，將獲本司發給確認書(下稱「交易確認書」)，以確認結構性產品交易的協定條款。交易確認書載有足夠的詳細資料或其他細節以確定有關的結構性產品交易。交易確認書將構成協議就有關結構性產品交易的補充及組成部份。就特定的結構性產品交易而言，如交易確認書的條文與其他證明有關交易條款及細則的文件存在差異，以交易確認書的條文為準。
12.8 閣下有責任小心審閱所有載列於交易確認書的資料及資訊。在本司發出交易確認書 3 日或由本司不時酌情指定的期限內簽署交易確認書副本並將之送回本司以確認有關衍生或結構性產品交易的準確性。倘若本司在 3 日或由本司酌情指定的期限內未收到閣下就交易確認書內的結構性產品交易的條款或細則提出異議，則交易確認書內所有資料及資訊將被視為準確、最終及對閣下具約束力。
12.9 閣下明白及確認，閣下就結構性產品交易須於交易交收日(下稱「交收日」)以現金或相關資產交收。
12.10 就任何到期的結構性產品交易，除非於交收日就結構性產品交易採取適當的贖回行動，否則以下規定將適用：-
(i) 閣下有全責了解閣下在結構性產品交易中的權利及交易條款，以及就結構性產品交易的贖回採取適當行動；
(ii) 如閣下未能在交收日前至少3個營業日或由本司酌情指定的期限內發指示給本司：-
(a) 如結構性產品交易的贖回並非強制性的，則視閣下已不可撤銷地放棄與結構性產品交易的贖回有關的一切權利及應佔權益；及本司有權以本司認為適當的方式處理或以其他方式處置該結構性產品交易；或
(b) 如結構性產品交易的贖回是強制性的；本司可全權酌情出售或轉讓帳戶中任何的證券或其他資產或所有款項、資產、財產或其他存放於或由本司及/或聯營公司代閣下持有的上述各項，以履行閣下的交收責任。如本司因轉讓或出售證券、資產或財產及因與此直接或間接有關的事情；或因閣下未有履行交收責任，以致蒙受或承受任何損失、損害、利息、行動、要求、申索、法律程序等及所有本司合理招致的 一切費用及支出，閣下須對本司作出全數彌償；及
(iii) 如閣下在交收日前至少3個營業日或由本司酌情指定的期限內，指示本司就結構性產品交易的贖回採取適當行動，本司毋須執行指示，除非本司在閣下發出指示時，收到足夠的已結算款項或以適當方式存放
的相關資產(視情況而定)，否則上述第12.10(ii)(b)分條款的規定將適用，猶如閣下未有及時發指示予本司一樣。
12.11 如結構性產品交易規定以現金或相關資產進行交收，則於交收日進行交收時
，閣下向本司xx 、保證及承諾：-
(i) 如該結構性產品交易規定在交收日以現金進行交收，閣下須在交收日前，向本司提供足夠的已結算款項，令本司得以代閣下完全履行交收責任。如交收日已屆，但閣下未有履行交收責任，本司獲授權轉讓或出售帳戶中任何的證券或其他資產或所有款項、資產、財產或其他存放於或由本司及/或聯營公司代閣下持有的上述各項，以履行閣下的交收責任。如本司因出售證券；或因與此直接或間接有關的事情；或因閣下未有履行交收責任，以致蒙受或承受任何損失、損害、利息、行動、要求、申索等及所有本司合理招致的一切費用及支出，閣下須對本司作出全數彌償；及/或
(ii) 如結構性產品交易規定以交付相關資產的形式進行交收，閣下須在交收日前，向本司交付指定數量的相關資產或以其他本司同意的方式進行交收。如閣下未有在交收日或之前履行交收責任，本司獲授權代閣下買入必需的資產以履行閣下的交收責任。如本司因買入資產； 或因與此直接或間接有關的事情；或因閣下未有履行交收責任，以致蒙受或承受任何損失、損害、利息、行動、要求、申索、法律程序等及所有本司合理招致的一切費用及支出，閣下須對本司作出全數彌償。本司獲授權自閣下交付本司及/或聯營公司或存放於本司及/ 或聯營公司的資產或財產中，撥用、提取及/或運用有關數量的適當資產或財產，以就結構性產品交易進行交收。
12.12 除非本司與閣下另有協議，本司毋須不時通知閣下交收日將屆，或代閣下採取任何行動。
12.13 於交收日，本司有權自帳戶或其他指定帳戶中支取結構性產品交易的整筆應付款項（包括但不限於買入價、收費、費用、佣金、印花稅、稅項、徵費及其他所有合理招致的支出）。
12.14 結構性產品交易在扣除一切經紀佣金、佣金、費用、印花稅、收費及其他合理的支出後的所得淨款項，應首先用於償還(不論全部或部份)在協議下結欠本司的一切債項，如有餘款，則存入帳戶或其他戶口。
12.15 閣下同意，不論閣下的帳戶有多少已結算款項，閣下仍須對本司根據閣下的指示執行的任何結構性產品交易所產生的一切交收及其他承擔責任。此外，閣下同意倘若本司按照本司合理的意見認為閣下無法或可能無法或不願意履行閣下對結構性產品交易的交收或其他責任，本司有不受約束的酌情權，隨時結清本司代閣下執行的任何或一切結構性產品交易合約，在聯交所、其他有關交易所或場外交易市場買入相關資產以扎平短倉，或在聯交所、其他有關交易所或場外交易市場賣出結構性產品以扎平長倉，或就有關結構性產品交易採取本司酌情認為適當的其他行動。
13. 電 子 交 易 服 務
13.1 本司向閣下發給其使用者密碼及通行密碼後，即可啟動電子交易服務，而本司將會通知閣下。
13.2 閣下同意及知悉：-
(i) 根據本條款及細則使用電子交易服務；
(ii) 其為電子交易服務的唯一授權用戶，除非本司同意其他；
(iii) 須單獨及個人對其使用者密碼及通行密碼保密性和使用負責；
(iv) 須單獨及個人對使用其使用者密碼及通行密碼而通過電子交易服務輸入的所有指示負責；而本司對所收到的任何指示及其時間及形式，均會被視為是由閣下發出；
(v) 若得悉其使用者密碼及通行密碼遺失、盜用或未經授權而被使用，將會立即通知本司；
(vi) 若其錯誤地輸入使用者密碼及通行密碼超過三次，本司有權暫停其電子交易服務；
(vii) 若閣下使用電子交易服務，閣下同意將其電郵地址提供予本司，並同意若其電郵地址有任何變更，將會從速通知本司，以及在其指定的電郵地址接收本司向其發出的電子通訊；
(viii) 就本司以電子交易服務向閣下提供任何通知、結單、交易確認書及其他通訊，閣下通過電子交易服務所作出的同意是對閣下具有最終約束力的；及
(ix) 於使用電子交易服務的各個期間結束後，閣下應立即退出電子交易服務。
13.3 於收到閣下的指示後，本司會發出一項本司指定的指示認收。閣下同意，其收到一項指示認收並不保證其指示將獲得執行。若閣下通過電子交易服務輸入指示後 5 分鐘內仍未收到指示認收，或倘若所收到指示認收存有誤差，閣下應立即通知本司，以確認本司收到其指示。閣下進一步同意，其未能收到指示認收並不一定表示本司不會執行其指示。倘本司向閣下確認已執行其指示但未有發出指示認收，閣下仍須負責結算該項交易。
13.4 閣下承認並同意，其通過電子服務發出指示後，將難以修訂或取消該指示，且僅在本司尚未執行指示的情況下，才可修訂或取消該項指示。在這情況下
，本司將盡最大努力修訂或取消該項指示，但儘管閣下收到關於修訂或取消指示的一項指示認收，也不保證本司將會作出該項修訂或取消。若本司沒有修訂或取消閣下原本的指示，閣下仍須對該項指示負責。
13.5 本司可通過電子交易服務向閣下傳遞市場資訊(下稱「資訊」)。閣下須就資訊支付費用。閣下理解，本司會從交易所、結算所、市場及傳遞資訊的第三方（統稱“資訊提供者”）取得資訊。
13.6 資訊屬本司、資訊提供者或其他人士的財產，且受版權保護。閣下承擔及保
證，閣下除使用資訊在認可用途外，不得在其他方面使用資訊或其任何部份
。
13.7 閣 下 同 意
(i) 未經本司及有關資訊提供者事先以書面方式明確表示同意，不會複製
、再傳遞、傳播、出售、分發、發佈、廣播、傳閱或在商業上利用資訊作非法用途；
(ii) 不會就任何非法目的使用資訊；
(iii) 不會將資訊或其任何部份用於設立、維持或提供或協助設立、維持或提供買賣場地或買賣服務，以便買賣在聯交所上市的證券；及
(iv) 不會向第三方傳播資訊。
13.8 閣下同意遵守本司以書面發出的合理要求，以保障資訊提供者和本司在資訊及電子交易服務中的有關權利。
13.9 閣下須遵守本司不時就核准使用資訊而合理地發出的指示。
13.10 閣下確認，電子交易服務和其所含的軟件屬本司專有財產。閣下保證並承諾
，其不應並且不應試圖纂改、更改、取消編纂、逆轉設計或其他方式更改電子交易服務的任何部份或其所含的任何軟件，亦不應在未獲批准的情況下試圖存取電子交易服務的任何部份或其所含的任何軟件。閣下同意，若閣下在任何時候違反本保證和承諾，或本司在任何時候合理地懷疑閣下已違反本保證和承諾，本司有權終止本電子交易服務。
13.11 閣下確認，其通過電子交易服務取得的資訊或市場資料，可能是第三方專有的資訊或資料。閣下同意，除非事先取得此等權利的擁權人的批准，閣下不會上載、錄製、複製或分發受版權或其他知識產權(以及宣傳和私隱權)保護的任何資訊、軟件或其他材料。
13.12 對於閣下在本司不能合理地控制的情況下所招致的任何損失、費用、開支或責任，本司、其業務代理人及資訊提供者概不負責，該情況包括但不限於：-
(i) 在不受本司控制範圍之電話、電子或其他系統而延遲、未能或不準確地處理向本司發出的或從本司收到的通訊；
(ii) 第三方所進行的研究和分析以及其已準備的市場資料及其他資訊有延誤、不準確或遺漏之處，或其未能進行該等研究和分析，及未能準備該等市場資料及其他資訊；
(iii) 未經授權進入通訊系統，包括未經授權使用閣下的使用者密碼、通行密碼及/或賬戶號碼；及
(iv) 戰爭或軍事行動、政府限制、勞資糾紛、任何市場或交易所關閉或其正常交易秩序中斷、惡劣天氣狀況以及天災。
13.13 對於因閣下違反協議、適用法律、交易規則及規例、或侵犯任何第三方的權利，包括但不限於侵犯任何版權、所有權權利及私隱權而引致的任何及所有索償、損失、責任、費用和開支(包括但不限於律師費)，閣下同意為本司、
其業務代理人和資訊提供者抗辯，並向其作出彌償，使其免受損失。此項義務在電子交易服務終止後仍然有效。
13.14 本司保留可基於任何原因全權酌情決定終止閣下存取電子交易服務或其任何部分的權利，而無須向閣下發出通知及不受任何限制；該等原因包括但不限於未經授權使用閣下的使用者密碼、通行密碼及/或賬戶號碼、違反協議或本條款及細則、本司未能繼續從任何資訊提供者取得任何資訊或本司與資訊提供者所簽訂的一項或多項協議受到終止。
13.15 倘若本司終止閣下電子交易服務，資訊提供者及本司對閣下將不會負上任何法律責任；但若本司在沒有基於任何原因而終止電子交易服務，本司將按比例向閣下退回自作出該項終止日期起閣下已繳付但未獲提供的某部份電子服務的任何費用。
13.16 閣下承認並接受使用電子交易服務須承擔下述風險：-
(i) 若閣下通過電子交易服務進行交易，閣下須承擔與電子服務系統有關的風險，其中包括硬件和軟件故障、因任何系統發生故障而導致未能根據閣下的指示執行其買賣盤，或未能完全執行其買賣盤；
(ii) 基於難以預計的通訊擁塞及其他原因，電子交易服務可能不可靠；而通過電子交易服務所進行的交易可能受制於在傳遞和收取閣下指示及其他訊息方面出現延誤、在執行閣下指示方面出現延誤、或執行閣下指示時的證券價格不同於發出指示時的當時價格、傳遞中斷或訊號消失；須承擔的風險是在通訊上可能出現誤解或錯誤的情況；以及在一般情況下難以取消經已發出的指示。對於閣下因該等中斷或延誤或第三方存取資訊而可能招致的損失，本司概不負責。若閣下並不準備承擔該等中斷或延誤的風險，閣下不應向本司透過電子途徑發出任何指示；及
(iii) 通過本司的電子交易服務向閣下所提供市場資料及其他資訊可能由本司從第三方取得。雖然本司相信此等市場資料或資訊可以信賴，但本司和該第三方均不保證此等市場資料或資訊是準確、完整或適時的。
TERMS AND CONDITIONS OF SECURITIES SERVICE
TERMS AND CONDITIONS OF SECURITIES SERVICE
PART I
GENERAL PROVISIONS FOR SECURITIES SERVICE
1. DEFINITIONS AND INTERPRETATIONS
1.1 In these Terms and Conditions, the following words and expressions shall, unless the context otherwise requires, have the following meanings:-
“Account” | means any one or more or all of the Cash Account or the Margin Account or other forms of accounts now or hereafter maintained in your name with us. |
“Account Mandate” | means account opening forms, signature card(s) and all other documents for corporation, partnership, sole proprietorship, individual or joint account in the form prescribed by us in connection with the operation of the Account and/or using the Service. |
“Agreement” | means the agreement for the Service and the Account in writing as varied, modified, amended or supplemented from time to time, including, without limitation, the Account Mandate, these Terms and Conditions and other documents signed by you to us in respect of the Service. |
“Applicable Laws” | means all laws, rules, regulations, guidelines, codes of conduct, directives, guidance and circulars applicable to the Service and the Transaction whether in Hong Kong or elsewhere. |
“Associate” | means a company or body corporate which is our direct or indirect holding companies, subsidiaries, affiliated companies or our other branches in Hong Kong or elsewhere. |
“Authorized Financial Institution” | has it meanings as given under the SFO. |
“Authorized Person” | means the person authorized and empowered by you and accepted by us to give instruction to deal with all matters in connection with the operation of the Account or the using the Service subject to such change as may be agreed by us from time to time. |
“Business Day” | means any day upon which licensed corporation in Hong Kong are open for business excluding Saturday and Sunday, unless otherwise provided in the relevant Transaction or Service. |
“Cash Account” | means any such account for trading securities on cash settlement basis and as specified in the Account Mandate established with us. |
“CCASS” | means the Central Clearing and Settlement System established and operated by HKSCC. |
“CCASS Depository” | means such person appointed by HKSCC to perform the depository and custodian services in CCASS. |
“CCASS Nominee” | means the nominee company of HKSCC or such other person appointed by HKSCC to provide the nominee services in CCASS. |
“Clearing House” | means HKSCC in relation to SEHK and, in relation to any other Foreign Stock Exchange, the clearing house providing services similar to those of HKSCC to such Foreign Stock Exchange. |
“Client Money Rules” | means the Securities and Futures (Client Money) Rules (Cap. 517I), Laws of Hong Kong. |
“Client Securities Rules” | means the Securities and Futures (Client Securities) Rules (Cap. 517H), Laws of Hong Kong. |
“Collateral” | means all securities, money and any other properties or assets provided by you to us or purchased or received by us for you or otherwise which come to our possession, custody or control as security for your liabilities and obligations under the Margin Account. |
“Correspondent Agent” | means anyone who acts as our agent in effecting transactions or clearing the same in Hong Kong or elsewhere, including, without limitation, any member of an Exchange or a Clearing House. |
“Electronic Trading Service” | means any facility provided by us facilitating you to give electronic instructions to purchase, sell, deal with or otherwise dispose of Securities and access to information services. |
“Eligible Securities” | means such securities which is from time to time designated and accepted by HKSCC for deposit, clearance and settlement in CCASS. |
“Exchange” | means SEHK and any Foreign Stock Exchange. |
“Exchange Rules and Regulations” | means rules and regulations promulgated by the Exchange or the Clearing House from time to time applicable to the Service and/or the Transaction as well as the market practice in the relevant Exchange or the Clearing House. |
“FATCA” | means the Foreign Account Tax Compliance Act. |
“Foreign Stock Exchange” | means a stock exchange which is permitted to operate in a country or territory. |
“HKSCC” | means the Hong Kong Securities Clearing Company Limited. |
“Hong Kong” | means the Hong Kong Special Administrative Region of the People’s Republic of China. |
“Login Name” | means your personal identification used in conjunction with the Password to gain access to the Electronic Trading Service, the Interactive Voice Response |
Service, the Mobile Phone Trading Service and other electronic services rendered to you by us. | |
“Margin” | means the amount or property (whether cash or non- cash) as may from time to time be demanded by us from you by way of margin (including without limitation the initial margin and additional margin), variation adjustments or cash adjustments or otherwise in respect of the amount drawn under the Margin Facility for the purpose of safeguarding us from and against any loss or risk of loss on obligations (whether present, future or contingent) arising from the Margin Facility including and not being less than amount of margin required by the relevant Clearing House (if applicable). |
“Margin Account” | means any such account trading securities on margin financing basis and specified in the Account Mandate and with Margin Facility granted by us to you. |
“Margin Facility” | means the margin facility granted by us to you subject to and upon the terms as we may at our absolute discretion determine. |
“Margin Requirements” | means the requirements prescribed by us in relation to the collection and specifications of the Margin from time to time, including, without limitation, margin ratio applicable to the Securities as notified and determined by us in our absolute discretion. |
“OTC Market” | means the over-the-counter market. |
“Password” | means your personal password used in conjunction with the Login Name to gain access to the Electronic Trading Service, the Interactive Voice Response Service, the Mobile Phone Trading Service and any other electronic services rendered to you by us. |
“Risk Disclosure Statement” | means the risk disclosure statement provided by us to you in relation to risks associated with and characteristics of the trade or products with its current version annexed to Part 9 hereof. |
“Securities” | has its meaning as given under the SFO. |
“SEHK” | means the Stock Exchange of Hong Kong Limited. |
“SFC” | means the Securities and Futures Commission of Hong Kong. |
“SFO” | means the Securities and Futures Ordinance (Cap. 571), Laws of Hong Kong. |
“Service” | means the services contemplated under these Terms and Conditions including, without limitation, service relating to dealing in securities and the electronic trading. |
“Signing Arrangement” | means the signing arrangement of person(s) with authority to operate the Account and/ or use the |
Service subject to change from time to time and accepted by us. | |
“Specimen Signature” | means the signature specimen of the person(s) with authority to operate the Account or use the Service. |
“Structured Product” | has its meaning as given under the SFO. |
“Structured Product Transaction” | means any transaction of the Structured Product entered into by you pursuant to these Terms and Conditions. |
“Transaction” | means any transactions contemplated hereunder including, without limitation, the purchase, subscription, sale, exchange or other disposal of and dealings in any and all kinds of the Securities, safe-keeping of securities and the nominee or custodian service therefor, the Structured Product Transaction and all other transactions undertaken under or pursuant to these Terms and Conditions. |
“US Person” | means any person who is defined as a United States person under the FATCA and include any one or more of the following:- (a) a citizen or resident of the United States; (b) a person that is not a citizen or national of the United States and who meets either the “green card” test or the “substantial presence” test under the Internal Revenue Code of 1986, as amended, and/or any other applicable laws, rules and regulations for the calendar year; (c) a person electing to be treated as a tax resident of the United States; and (d) any other person that is subject to the United States federal income taxation on his worldwide income regardless of its source. |
1.2 The clause headings in these Terms and Conditions are for convenience only and shall not affect the interpretation or construction of these Terms and Conditions and have no legal effect.
1.3 References in these Terms and Conditions to clauses and sub-clauses are, except where the context otherwise requires, to be construed respectively as references to clauses and sub-clauses to these Terms and Conditions.
1.4 References in these Terms and Conditions to the singular shall include references to the plural and vice versa and references to the genders shall include the other and the neutral genders as the context requires.
1.5 References in these Terms and Conditions to any party hereto shall be deemed to be references to or to include their respective successors or permitted assigns.
1.6 Reference in these Terms and Conditions to any enactment shall be deemed to include references to such enactment as amended, extended or re-enacted from time to time and the rules and regulations thereunder.
1.7 References in these Terms and Conditions to “these Terms and Conditions” or any other documents shall, except otherwise expressly provided, include references to these Terms and Conditions or such other documents as amended, extended, novated, replaced and/or
supplemented in any manner from time to time and/or any document which amends, extends, novates, replaces and/or supplements these Terms and Conditions or any such other documents.
1.8 References in these Terms and Conditions to “we” or “us” are to be construed as references to “First Worldsec Securities Limited” and references to “our” are to be construed accordingly. References in these Terms and Conditions to “you” are to be construed as references to the client(s) who maintain(s) the Account with or use (s) the Service provided by “First Worldsec Securities Limited” from time to time and references to “your” are to be construed accordingly.
2. PROVISION OF SERVICE
2.1 We shall in our absolute discretion provide you with the Service upon and subject to these Terms and Conditions and in accordance with the Applicable Laws as well as the Exchange Rules and Regulations.
2.2 The Service shall be provided to you within the office hours as determined by us from time to time in our absolute discretion.
2.3 To the extent permitted by the Applicable Laws, we are at liberty to withdraw, cancel or revoke the Service at any time in whole or in part without prior notice to you.
3. INSTRUCTIONS
3.1 You agree to give instructions to deal with all the matters relating or incidental to the Account, the Service and the Transaction in accordance with the Account Mandate, the Specimen Signature and the Signing Arrangement from time to time provided to us by you.
3.2 We may in our absolute discretion refuse to accept or act in accordance with any instruction without giving any reason therefor. If an instruction is declined, we will take all reasonable steps to notify you promptly of this provided that we will not be liable for any failure to do so.
3.3 All instructions given to us by you shall be followed and executed in accordance with these Terms and Conditions and subject to the Applicable Laws and the Exchange Rules and Regulations.
3.4 In relation to your instructions as to the Service or the Transaction, we shall act as your agent or as principal except where we give notice (in the contract note for the relevant Transaction or otherwise) to you to the contrary.
4. AUTHORIZED PERSON
4.1 You are required to notify us in writing and provide us with the Authorized Person’s particulars and the Specimen Signature(s) together with all other information as prescribed by us. Unless otherwise agreed between you and us in writing, the Authorized Person is authorized to give instruction to deal with all the matters or transactions in connection with the Account and the Service in accordance with the Account Mandate, the Specimen Signature and the Signing Arrangement except for:-
(a) the application for opening of new account or new services;
(b) any change of the Authorized Person or the Signing Arrangement; and
(c) any change of the correspondence address, contact number or other personal particulars of the account holder(s).
4.2 Unless otherwise agreed between you and us in writing, any change in, addition to or revocation of the Authorized Person and/or the Specimen Signature and/or the Signing Arrangement shall take effect as and when we shall have actually received such documents and/or authorizations in the form and substance satisfactory to us and reasonable opportunity to respond thereto.
4.3 Unless otherwise agreed between you and us in writing, any effective change in, addition to or revocation of the Authorized Person and/or the Specimen Signature and/or the Signing Arrangement shall apply to all of the Account, the Service or the Transaction.
5. LIABILITY INDEMNITY AND WARRANTY
5.1 To the extent permitted by the Applicable Laws, our liability to you for any neglect or default on the part of us shall not extend to any indirect, consequential or exemplary damages, expenses, losses or costs and any damages for loss of profit.
5.2 You represent and warrant (which representations and warranties shall be deemed to be repeated by you on each date on which Transaction is entered into or the Service is provided under the Agreement) that:-
(a) you have full power and authority to execute and deliver the Agreement, and any other documentation relating thereto, and to perform your obligations under the Agreement and each transaction and have taken all necessary actions to authorize such execution, delivery and performance;
(b) any such execution, delivery and performance will not violate or conflict with any law applicable to or binding on you or oblige you to create any lien, security interest or encumbrance on your asset;
(c) all governmental, regulatory and other consents that are required to have been obtained by you in relation to the Agreement have been so obtained and are in full force and effect and all conditions of any such consents have been compiled with;
(d) the obligations under the Agreement constitute your legal, valid and binding obligations, enforceable in accordance with their respective terms;
(e) you will comply with all laws, rules, regulations, guidelines, circulars, codes of conduct and disclosure requirements of any relevant jurisdiction, Exchange, market or regulatory authority which apply in respect of you and us from time to time;
(f) you will promptly give or procure to be given to us such information and assistance as we may require to enable us to assist or achieve compliance with any of the obligations under the Agreement; and
(g) where the Account is a client account, you have put in place reliable system to verify client identity and proper systems and controls to allocate funds in the pooled account to the individual underlying clients. Further, you are satisfied as to the source of the funds used to open the Account or passing through the Account.
5.3 To the extent permitted by the Applicable Laws, you warrant and undertake to ratify and confirm at our request any act, deed, thing or matter lawfully done or caused to be done by us in the proper performance of our duties or obligations hereunder.
5.4 To the extent permitted by the Applicable Laws, you warrant and undertake to keep us and our agents and employees fully and effectively indemnified against all costs, charges, liabilities and expenses whatsoever incurred by us pursuant to or in connection with our lawful acts hereunder.
6. EVENT OF DEFAULT
6.1 Any of the following events shall constitute an event of default:-
(a) the failure of you to pay any sum of whatever nature under the Agreement;
(b) breach by you of any terms and conditions contained in the Agreement;
(c) the continuing performance of any terms and conditions of the Agreement becomes
illegal or is claimed by any regulatory authority to be illegal;
(d) notice to us of the death or mental incapacity of you;
(e) you will become insolvent or generally suspend payment of debts when the same become due or a bankruptcy petition or a winding-up petition is being presented against you or a resolution is being passed for the winding-up of you; or you shall suffer any distraint or levy of execution of any kind; or a receiver is being appointed over you or any of you or any substantial part of the property of you; and
(f) circumstances shall have arisen or continued which, in our reasonable opinion, may jeopardize our position and require us to take such action as may be necessary for the protection of us.
6.2 Upon the occurrence of any of the events of default, we shall be entitled (but not obliged) to, without prior notice to you and without prejudice to the other rights and remedies of us and without releasing you from any liability, exercise all or any of the following powers to:-
(a) immediately close the Account and/or terminate the Investment Service;
(b) terminate all or any part of the Agreement;
(c) cancel any or all non-executed orders or any other commitments made on behalf of you;
(d) close any or all contracts between you and us, cover any short position of you through the purchase of Securities or other assets on the Exchange or the OTC Market or liquidate any long position of you through the sale of Securities or other assets on the relevant Exchange or the OTC Market;
(e) dispose of any or all Securities, assets or property held by us and/or Associate for or on behalf of you and to apply the proceeds thereof together with any cash deposit(s) to settle all outstanding balances owing to us including, without limitation, all costs, charges, legal fees, expenses, stamp duties, commissions and brokerages properly incurred by us in transferring or selling all or any of Securities, assets or property in the Account or the Service or in perfecting title thereto;
(f) borrow or purchase any of Securities or assets required for delivery in respect of any sale effected for you; and
(g) combine, consolidate and set-off any or all accounts of you in accordance with clause 7 of Part I hereof.
7. LIEN SET-OFF AND CONSOLIDATION
7.1 In addition and without prejudice to any general lien, right to set-off or similar rights to which we are entitled by law, we for ourselves or as agent for any of Associate may at any time and without notice to you:-
(a) combine or consolidate all the Account either individually or jointly with others, maintained with us and/or Associate and we may set off or transfer all or any Securities, assets, monies or other property in any such accounts to honour obligations or satisfy liabilities on your part due and owing to us or any of Associate, whether such obligations and liabilities are actual or contingent, primary or collateral, secured or unsecured, or joint or several; and
(b) if any sum is due but remains unpaid hereunder, retain all or any Securities, asset, monies or other property whatever and wherever situate which may be deposited with or otherwise held by us and/or Associate for or in your name whether for safe custody or otherwise and sell the same or any part thereof at such price and in such manner as we shall determine and, for this purpose, we may retain such agent or broker and apply
the proceeds thereof to set off any or all sums due and owing under the Agreement after full deduction of all costs and expenses.
7.2 We may at any time in our absolute discretion convert any sum in the Account or under the Service into any currency by any lawful means and at the prevailing rate of exchange as determined by us on the day of passing the entry for the purpose of combination, consolidation or set off without reference to you.
7.3 Where any such set-off or combination requires the conversion of one currency into another, such conversion shall be calculated at the rate of exchange (as determined by us and conclusively binding in all respects upon you) adopted by us in our ordinary course of business for such currencies at the time of the combination or set-off.
8. NO DEDUCTION
8.1 Any sums payable by you to us under the Agreement shall be paid to us in the contracted currency or otherwise as we may from time to time prescribe in full clear of and free from any of present or future taxes, levies, charges, fees or withholding and without set off, counterclaim or deduction whatsoever.
9. FEES, INTEREST AND ETC.
9.1 We have rights to impose or levy such fees, charges and/or commissions for the operation of any of the Account or provision of any of the Service to you at such rate as prescribed by us in any schedule of fees, charges and commissions published by us from time to time provided always that we may vary, revise or amend the rate or the basis of calculation thereof upon not less than 30 days prior written notice to you. Such schedule of fees, charges and commissions shall be made available to you upon your request.
9.2 You shall pay to us all interest accrued on all sums payable by you to us calculated from the due date to the date of actual payment at such rate as prescribed by us and the interest shall be computed on the basis of the actual number of days elapsed in a 365-day year or a 360-day year in accordance with our prevailing practice for the relevant currency.
10. STATEMENTS AND CONFIRMATIONS
10.2 Notwithstanding the provisions of the preceding clause 10.1, you have right of recourse against:-
(a) unauthorized transaction arising from forgery or fraud by any third party and in relation to which we have failed to exercise reasonable care and skill;
(b) unauthorized transaction arising from forgery or fraud by any of our employees or agents; and
(c) other unauthorized transactions arising from negligence or wilful default on the part of us.
11. CONCLUSIVE EVIDENCE
11.1 Except for manifest error, the books, records and notes kept by us (including, without limitation, tape recording and any handwritten information recorded by our employees or agents in the course of their dealing with you) in respect of the Account and/or Service shall be conclusive
evidence for all purposes.
12. JOINT AND PARTNERSHIP ACCOUNT
12.1 Unless otherwise provided, this clause 12 shall apply where the account holder or the user of the service consists of more than one person such as joint account holders, trustees or personal representatives.
12.2 Where the Account consists of more than one person or the users of the Service is more than one person, all of account holders or service users will be jointly and severally liable for all or any of the obligations or liabilities under the Agreement.
12.3 Unless otherwise agreed between you and us in writing:-
(a) each joint account holder of the Account or user of the Service will have sole authority on behalf of all the joint account holders or service users to deal with us fully and completely without any notice to the other joint account holders or service users;
(b) any of the joint account holders or service users may give us an effective and final discharge in respect of any of our obligations or liabilities hereunder; and
(c) any notice or communication given to one of the joint account holders or service users shall be deemed to be given to all.
12.4 On the death of any of the account holders or the service users, the Agreement will not terminate but remain in full force and effect and binding on the surviving account holder or the service users unless otherwise agreed between you and us in writing. Further, all rights and interests of and in the Account and the Service will be vested in the survivor under the Account or the Service by operation of the rule of survivorship.
12.5 Notwithstanding the foregoing provisions, we reserve our right:-
(a) to require joint instructions from some or all of the joint account holders or the service users before taking any action under the Agreement; and
(b) if we receive instructions from any one of the joint account holders or the joint service users which are not consistent with other instructions, to advise one or more joint account holders or service users of such conflict or inconsistency and/or take no action on any such instructions until we receive further instructions in the form and substance satisfactory to us.
12.6 If you are a partnership, the following provisions shall apply:-
(a) unless otherwise agreed by us, your partnership agreement, if any, will not bind us regardless of whether or not we have notice thereof and the operation of a partnership account are governed by and subject to these Terms and Conditions;
(b) all partners will be jointly and severally responsible for their obligations and liabilities under the Agreement;
(c) notwithstanding any change in your constitution, the remaining partners will have full power and authority to deal with the Account or use the Service until we shall have actually received the notice of change; and
(d) unless otherwise agreed by us, you will give us a new Account Mandate and open a new account upon any change of constitution.
13. CONFIDENTIALITY
13.1 We shall keep confidential all information relating to the Account and/or the Service provided
that, subject to the Applicable Laws and the Exchange Rules and Regulations, we may disclose any such information incidental thereto to the regulators or law enforcement agency as and when required and to any of our branches and/or Associate for the purpose of providing services to you from time to time without any prior consent from you.
14. CONFLICT OF INTEREST AND DISCLOSURE
14.1 In relation to any transaction, we and/or Associate may have an interest, relationship, arrangement, or duty which is material or which gives or may give rise to a conflict of interest with your interest(s) in relation to transaction directly or indirectly (the “Material Interest”). We shall take reasonable steps to ensure fair treatment for you in relation to any of such transaction subject to the Applicable Law.
14.2 Subject to the Applicable Laws, we shall be entitled to give advice or make recommendation to you or enter into the Transaction for or with you or act as your agent or provide the Service and any other service notwithstanding the Material Interest and shall not be under a duty to disclose to you any profit arising therefrom.
14.3 Subject to the Applicable Laws, we shall not be liable to account to you for or (save in respect of fees or commissions charged to you) to disclose to you any profit, commission or remuneration made or received (whether from you or by reason of any of the Material Interest or otherwise) by us by reason of any services provided for transaction.
15. DEBT COLLECTION
15.1 We have unfettered right to engage debt collection agent to collect any sum due to be paid to us by you under the Agreement. You are hereby warned that, to the extent permitted by the Applicable Laws, you shall indemnify and keep us indemnified on a full indemnity basis from and against all costs, fees and expenses which we may reasonably incur in engaging the debt collection agent.
16. FORCE MAJEURE
16.1 While we agree to use our best endeavour to honour our obligations in a timely manner, we will not be liable for any failure or delay in performance of the Agreement which is caused by circumstances beyond our reasonable control including but not limited to any communication, systems or computer failure, market default, suspension, failure or closure, or the imposition or change (including a change of interpretation) of any law or governmental or regulatory requirement and we shall not be held liable for any loss you may incur as a result thereof.
17. WAIVER
17.1 No failure to exercise or enforce and no delay in exercising or enforcing on the part of us of any right, remedy, power or privilege under the Agreement shall operate as waiver thereof, nor shall any single or partial exercise or enforcement of any right, remedy, power or privilege hereunder operate as a waiver thereof, nor shall any single or partial exercise or enforcement of any right, remedy, power or privilege preclude any other further exercise or enforcement thereof, or the exercise or enforcement of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative to and not exclusive of any right, remedy, power and privilege provided by law or other documents held by us.
18. SUCCESSORS AND ASSIGNS
18.1 The Agreement shall be binding upon, and enure to the benefit of, the parties to the Agreement and their respective successors and permitted assigns.
18.2 You agree that you will not assign any of your rights, interest, powers, obligations or liabilities under the Agreement.
shall have the same rights or benefits against you as he would have had as if the assignee had been a party hereto and you waive and renounce all your rights, if any, to challenge the validity of any such assignment by way of this clause 18.3.
19. SEVERABILITY
19.1 If at any time any provision of the Agreement is prohibited by law or judged by court to be illegal, void, invalid or unenforceable in any respect, that provision shall, to the extent required, be severed from the Agreement and rendered ineffective without modifying the remaining provisions of the Agreement and shall not in any way affect any other circumstances of or the validity or enforcement of the Agreement.
20. AMENDMENT
20.1 You agree and accept that, subject to the Applicable Laws, we may unilaterally amend the terms and conditions of these Terms and Conditions upon giving you a notice of the changes in writing by way of displaying the same in a prominent position of our office premises or such other manner as we shall in our absolute discretion consider fit.
21. NOTICE
21.1 A notice or demand by us under the Agreement may be served by post, personal delivery, cable, telex, electronic mail or facsimile transmission and shall be deemed to have been duly served if by post on the day following the day of posting (its subsequent return or non-delivery notwithstanding) and if by personal delivery, cable, telex, electronic mail or facsimile transmission at the time on the day of such personal delivery, cable, telex, electronic mail or facsimile transmission if addressed to you or the legal or personal representative(s) of you at the last known address according to our record.
21.2 A notice by you or your legal representative(s) or your estate may be served by post, personal delivery, cable, telex or facsimile transmission at the registered office or last known address of us but shall not be deemed to have been duly served unless and until actual receipt of such post, personal delivery, cable, telex or facsimile transmission by us.
22. TIME OF ESSENCE
22.1 Time shall be of the essence for the purposes of any provision of the Agreement.
23. PROVISION AND CHANGE OF INFORMATION
23.1 You confirm and acknowledge that any information which you provide to us is true, complete, accurate and updated and you agree to provide any further information properly required by any competent authority from time to time.
23.2 You and we undertake to inform each other of any material change to the information provided in the Agreement. In particular, you and we agree that:-
(a) we shall notify you of any material change to our business which may affect the Service rendered to you by us; and
(b) you will notify us of any change of name, address, particulars and information and provide such supporting documents as reasonably required by us.
24. CURRENCY EXPOSURE
24.1 For any transaction undertaken under the Account or in relation to the Service in foreign currencies, you acknowledge that profits or losses may arise as a result of a fluctuation in exchange rates, which shall be entirely for your account and at your own risk.
25. SUITABILITY
25.2 For the purpose of clause 25.1, Financial Product means any securities, any futures contract or any leveraged foreign exchange contract as defined in the SFO.
26. THIRD PARTY RIGHTS
26.1 Without prejudice to sub-clause 26.3, a person who is not a party to these Terms and Conditions has no right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623 of the Laws of Hong Kong) (the “Third Parties Ordinance”) to enforce or to enjoy the benefit of any term of these Terms and Conditions.
26.2 Notwithstanding any provision contained herein, the consent of any person who is not a party to these Terms and Conditions is not required to rescind or vary these Terms and Conditions at any time.
27. TAX STATUS
27.1 You hereby certify and acknowledge that you are not a US Person and are not subject to the tax of the United States of America. In particular, without limitation, you are also not an entity taxable as a corporation, or a partnership created or organized in or under the laws of the United States of America or any state or political subdivision thereof or therein, including the District of Columbia or any other states of the United States of America. You hereby consent for us or any of the Associate to share or release your information and data with or to domestic and overseas regulators, tax or other competent authorities (if necessary) to establish your tax liability in any jurisdiction. You consent and agree that we or any of the Associate is authorized to withhold from the Account such amounts as the domestic or overseas regulators, tax or other competent authorities may from time to time require in accordance with the Applicable Laws, including, and without limitation, the FATCA. In the event of any change of the tax status, you hereby undertake to notify us or any of the Associate in writing forthwith.
28. GOVERNING LAW AND JURISDICTION
28.1 The Agreement shall be governed by and construed in all respects in accordance with the laws of Hong Kong. The parties to the Agreement irrevocably submit to the non-exclusive jurisdiction of the Hong Kong Courts but we shall be entitled to enforce the Agreement in courts of other competent jurisdiction as we may select.
PART II
SPECIFIC PROVISIONS FOR SECURITIES SERVICE
These Specific Provisions should be read in conjunction with the General Provisions for Securities Service. In the event of any difference between those provisions and these provisions, the provisions herein shall prevail.
1. AUTHORIZATION
1.1 We are authorized to execute the Transaction and provide the Service in accordance with all Applicable Laws, the Exchange Rules and Regulations and the market practice of the OTC Market from time to time and all the Transactions so executed and the Service so provided shall be conclusively binding on you.
1.2 We have unfettered right to retain Correspondent Agent to execute the Transaction and you acknowledge that the terms of business of such Correspondent Agent and the Exchange Rules and Regulations or the market practice of the OTC Market relevant to such Transaction shall be binding on you. We give no warrant as to the solvency of the Correspondent Agent and shall not be liable to any loss or damages suffered or sustained by you arising out of the insolvency of the Correspondent Agent.
1.3 You acknowledge and agree that the Applicable Laws and the Exchange Rules and Regulations may prohibit us from placing a sale order on your behalf when the order relates to the Securities which you do not hold (the “Short Sell Order”). You undertake and warrant that prior to placing a Short Sell Order, you will have entered into a lawful and effective securities borrowing arrangement or other form of cover acceptable to us and in accordance with the Applicable Laws and the Exchange Rules and Regulations to ensure that the Securities in issue will be delivered on the prescribed period. Further, prior to execution of such a Short Sell Order, you will provide us with such documentary assurance that any of Short Sell Order is so covered as we shall specify upon our request.
2. DEALING RULES
2.1 In executing the Transaction, we may take all such steps as may be required or permitted by the Applicable Laws, the Exchange Rules and Regulations as well as the market practice. We will be entitled to take or not take any action as we consider fit in order to ensure compliance with the same and all such actions so taken or not taken will be binding on you.
2.2 In executing the Transaction, we may act either as your agent or the principal subject to the terms and conditions contained herein. Unless otherwise provided in writing, we shall act as your agent to enter into the Transactions or provide the Service for you.
3. SETTLEMENT
3.1 If we do not receive cash, assets or the relevant Securities for settlement purpose when due in respect of any of Transaction which we are to settle or effect with or for you, or you do not take all steps necessary to secure the due and prompt settlement of any of the Transaction, or you fail and/or neglect to meet or our form a view that you are about to fail to meet any other liability to us or any third party we may (but not obliged to) on giving you reasonable prior notice thereof (either verbally or in writing) and at your own costs cancel, close out, terminate or reverse all or any of the Transaction, buy in to settle or close any short position created by you, and sell, realize, charge, pledge or otherwise dispose of any of the Securities cash or other assets held for you or which we may be entitled to receive or control on your behalf at such terms and in manner as we consider fit in our absolute discretion (without being responsible for any loss or diminution in price) and may at your own costs enter into any other transactions or do or not do anything (including the application of your money held for you) which would or could have the effect of reducing or eliminating liability under any of the Transaction, position or commitment undertaken by or for you.
3.2 Any crediting to you of cash, Securities or other assets is subject to reversal if, in accordance with the Applicable Laws, the Exchange Rules and Regulations and market practice, the delivery
of cash, Securities or other assets giving rise to the credit is reversed.
3.3 All the Transactions entered into for or with you under these Terms and Conditions shall be settled through the account as prescribed by us in our absolute discretion.
4. CLIENT ’S MONEY
4.2 For so long as you remain indebted to us, you acknowledge and agree that we may refuse any withdrawal of money in the Account and you shall not without our consent withdraw any such money.
4.3 Unless otherwise instructed, all money for the Account (less commission, charges, fees and other amounts payable to us) will be held on your behalf at your own risk in one or more segregated client accounts established and maintained by us with an Authorized Financial Institution or other person approved by the SFC for the purposes of the provisions of the Client Money Rules and in each case as selected by us.
4.4 Unless otherwise instructed, money relating to the Transaction with settlement outside Hong Kong will be held at a bank selected by us in the country where the Transaction is to be settled.
4.5 Unless otherwise agreed between you and us in writing, you acknowledge and agree that no interest will accrue for your benefit in respect of any sums belonging to you and held in any of the segregated account and we are entitled to all amounts derived by way of interest from the retention in such accounts of any money held for you.
4.6 We shall not be liable to any loss or damages suffered or sustained by you arising out of the default of any financial institution, including, but not limited to, any bank, institution or other person selected by us to hold money belonging to you and which has been paid to the third party by us on your behalf.
4.7 We are authorized, at any time and without notice to you, to:
(a) make such deposits with and withdrawals from any of the segregated accounts as are deemed appropriate or necessary (in our sole and absolute discretion) by our carrying out the Service or execution of the Transaction;
(b) transfer any available funds and/or the Securities in any of segregated accounts held with us to any of the segregated accounts held with any Associate for the purpose of effecting any instructions to deal in the Securities given by you; and
(c) instruct any Associate to transfer any funds standing in any account maintained by you with such Associate to any of the Account maintained by you with us for the purpose of effecting any instructions to deal in Securities given by you.
4.8 Your authorization given in clause 4.7 shall be treated as a standing authority given by you pursuant to section 8 of the Client Money Rules for the deposit, payment, transfer or otherwise withdrawal of client money from the segregated accounts referred to in clause 4.1 for the purposes set out in clause 4.7. Unless revoked by you, the standing authority herein shall be valid for a period of 12 months commencing from the date hereof and shall thereafter be deemed to have been renewed upon its current terms and conditions for subsequent 12-month periods if not less than fourteen days written notice of the impending expiry of such standing authority is given to you and you shall not have opposed to the renewal of the standing authority upon its expiration. A written notice confirming the renewal of the standing authority shall be issued by
us to you within one week from the date of expiry of the previous term.
4.9 Your authorization given under clause 4.7 may be revoked by you at any time by written notice to us. No revocation shall take effect unless and until our actual receipt of the written revocation notice by us. The Transaction undertaken before revocation as aforesaid remains binding on you.
5. CLIENT’S SECURITIES
5.1 We are appointed as custodian for you to provide custody of your securities. You agree not to pledge, charge, sell, grant an option or otherwise deal in any Securities or money forming part of any Account without our prior written consent.
5.2 In relation to the Securities held by us and in Hong Kong for safekeeping purpose on your behalf, it may, at our discretion, be:-
(a) (in the case of registrable Securities) registered in the your name or in our nominee’s name; or
(b) deposited in safe custody in a segregated account which is designated as a trust account or client account with an Authorized Financial Institution, an approved custodian or another intermediary licensed by the SFC for dealing in securities in each case in Hong Kong.
5.3 Where the Securities are held by us for safekeeping pursuant to this clause, we shall or shall procure any designated nominee or custodian to:-
(a) collect and credit any dividends or other benefits arising in respect of such Securities to the Account or make payment to you as agreed with you. Where the Securities form part of a larger holding of identical Securities held for you, you are entitled to the same share of the benefits arising on the holding as your share of the total holding. In the event that the dividend is distributed, either in cash or otherwise, we are authorized to elect and receive on your behalf cash dividend unless otherwise instructed in advance; and
(b) comply with any directions, which is received in a timely manner by us, as to the exercise of any voting or other rights attaching to or conferring on such Securities provided that if any payment or expense is required to be made or incurred in connection with such exercise, neither we nor our nominee nor custodian shall be required to comply with any directions received from you unless and until moneys as may be necessary to exercise such rights are received by us in full.
5.4 We and our nominee are not obligated to redeliver to you the identical Securities received from or for you and is entitled to redeliver to you, at our office at which the Account is kept, Securities of like quantity, type and description.
5.5 Securities held by us for you pursuant to this clause are held by us at your sole risk and we shall not be responsible for or liable in respect of any loss or damage suffered or sustained by you in connection thereof unless such loss or damage has been caused as a direct consequence of a gross act of negligence or fraud on our the part.
6. CONFIRMATION
6.1 We will report to you execution of transactions (a) promptly by telephone calls or facsimile; or (b) by sending to you hard copy of the transaction confirmation or account statement within the statutory prescribed period. We shall send you a monthly statement demonstrating a transaction summary for the month except for the month during which no transaction is recorded.
6.2 You will have a duty to examine the transaction confirmation, the account statement and the monthly statement carefully and to notify us in writing of any error, mistake or irregularity therein within 7 days of the date of issuance by us of the same or such other period of time as may be specified by us from time to time in our absolute discretion. Unless objection in writing reaches us
within the said prescribed time limit, the transaction confirmation, the account statement and the monthly statement are considered to be correct, conclusive and binding on you.
7. CASH ACCOUNT
7.1 The Cash Account established with us is subject to the General Provisions for Securities Service and the Specific Provisions for Securities Service (if applicable).
7.2 We are not obliged to return the securities originally delivered or deposited by you but may return securities of the same class, denominations and nominal amount and ranking to you.
7.3 Without prejudice to any other rights and remedies available to us and subject to the Applicable Laws and the Exchange Rules and Regulations, we are authorized to dispose of any of the Securities from time to time received from or held on your behalf in settlement of any liability owed by you or on your behalf to us or a third person.
8. MARGIN ACCOUNT
8.1 The Margin Account established with us is subject to the General Provisions for Securities Service and the Specific Provisions for Securities Service (if applicable).
8.2 The Margin Facility is extended to you in accordance with the provisions set out in these Specific Provisions and all other terms as determined by us.
8.3 You agree to maintain the Margin and shall on demand pay such sum by way of additional and/or supplemental margin within such time limit (which may be within the same day) as may be determined by us for the purpose of protecting us against loss or risk of loss on present, future or contemplated Transaction.
8.4 While failure to pay the Margin when required within the period prescribed by us from time to time will entitle us to close out some or all of the your positions and/or call an event of default, we are under no obligation to close out any of the Transaction or take any other action in respect of positions opened or acquired on the your instruction and in particular, no failure by you to pay the Margin when demanded will require us to close out any such Transaction.
8.5 All the Margins and other payments due by you to us pursuant to these Specific Provisions shall be made in cleared funds and to such bank account(s) as we may from time to time specify. If you are, in accordance with the Applicable Laws and the Exchange Rules and Regulations, required to make any deduction or withholding in respect of taxes or otherwise, then you will be liable to pay such sum to us as will result in our receiving a net amount equivalent to the full amount which would have been received had no such deduction or withholding been required.
8.6 Any sums due to us from you pursuant to these Specific Provisions may be deducted on notice in writing to you from any assets and we may have recourse against and sell realize or dispose of the assets (including any margin, charged assets and safe custody assets) in order to realize proceeds which may be applied in the discharge of such sum.
8.7 We shall be entitled to revise the Margin Requirements from time to time in its absolute discretion. You shall be granted the Margin Facility to an extent of up to such percentage of the market value of the Collateral maintained with us as may be determined by us in our absolution discretion from time to time. No previous the Margin Requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the contracts affected by such revision.
8.8 As security for the performance of the your obligations under these Specific Provisions, you hereby charge to us by way of first fixed legal charge and as a continuing security:-
(a) all your rights, title, privilege and interest in respect of Securities, cash and any other assets from time to time credited to the Account;
(b) all your rights under these Specific Provisions including but not limited to all your rights to delivery of cash, the Securities or other assets;
(c) all the Securities or other assets and properties which, or the certificates or title documents to which, are for the time being deposited with or held by us;
(d) all sums of money held by us for you, the benefit of all accounts in which any such money may from time to time be held and all your rights, titles and interest under any trust relating to such money or to such accounts as aforesaid; and
(e) all and any property and other rights in respect of or derived from the assets referred to in this clause, including, without limitation, any rights against any custodian, banker or other person.
8.9 The charge created hereunder is a continuing security and will extend to the ultimate balance of all the obligations, regardless of any intermediate payment or discharge in whole or in part. The Collateral is additional to any other security, guarantee or indemnity now or subsequently held by us in respect of the obligations under these Specific provisions and the Collateral is not in any way prejudiced or invalidated by any of other security, collateral, guarantee or indemnity now or hereafter deposited with or held by us and shall remain in full force and effect until discharged by us. Further, the Collateral shall not be prejudiced or invalidated by the illegality, invalidity or unenforceability of, or any defect in, any provision of any documents relating to the Margin Facility or any security, indemnity or guarantee provided to us whether on the ground of ultra vires, not being in the interest of the relevant person or not having been duly authorized, executed or delivered by any person or for any other reason whatsoever.
8.10 Whenever there is any obligation hereunder which is outstanding, we have the right, without prior notice or reference to or consent from you, to dispose of or otherwise deal with any part of the Collateral at our absolute discretion upon such terms and in such manner we think fit for settlement of the outstanding obligations to protect our interest, in particular for your failure in meeting any call for the Collateral or margin call made by us or significant fluctuation in market prices. In event of any deficiency after the sale of the Collateral, you shall make good and pay on demand to us such deficiency.
8.11 You shall pay or reimburse us immediately upon demand all costs (including collection expenses and legal costs on a full indemnity basis) and expenses in connection with the enforcement or preservations of any of our rights under these Specific Provisions.
8.12 Except as otherwise provided hereunder, we shall not, without your written authority under the Applicable Laws and the Exchange Rules and Exchange, transfer, lend, pledge, re-pledge or otherwise deal with any of the Securities for any purpose.
8.13 Subject to the Applicable Laws and the Exchange Rules and Regulations and without prejudice to the generality of the provisions herein, we are authorized to deal with the Securities which are not charged to us and we shall have absolute discretion to determine which Securities are to be disposed of for the purpose of discharging any liability owed by you to us for:-
(a) dealing in the Securities which remains after we have disposed of all other assets designated as the Collateral for securing the settlement of that liability; or
(b) the Margin Facility provided by us to you which remains after we have disposed of all other assets designated as the Collateral for securing the settlement of that liability.
8.14 Subject to the Applicable Laws and the Exchange Rules and Regulations and without prejudice to the generality of the provisions herein, we are authorized to dispose of the Securities and we shall have absolute discretion to determine which Securities which are charged to us are to be disposed of in settlement of:-
(a) your obligation to maintain the Margin; or
(b) any of your liability to repay or discharge the Margin Facility provided by us; or
(c) any of your liability to settle the Transaction against which liability Collateral has been provided by you; or
(d) any liability owed by you to us for dealing in the Securities which remains after we have disposed of all other assets designated as the Collateral for securing the settlement of that liability.
8.15 In respect of any of the Securities other than those to which the Client Securities Rules are not applicable, you authorize us in our discretion to deposit, transfer, lend, pledge, re-pledge or otherwise deal with such of the Securities to any other parties in whatsoever manner and for any purpose (including without limitation as security for financial accommodation provided to us) we think fit in accordance with the Applicable Laws.
8.16 No purchaser from or other person dealing with, we shall be concerned to enquire whether any of the powers exercised or purported to be exercised has arisen or become exercisable, whether obligations remain outstanding or to the propriety or validity of the exercise or purported exercise of any power and the title of such a purchaser and the position of any such person shall not be impeachable.
8.17 You irrevocably appoint by way of security us and any person from time to time nominated by us as your attorney with full power of substitution for you and in your name and on your behalf and as your act and deed to execute documents and take such other acts and steps as may be required to facilitate the enforcement of the Collateral.
8.18 You agree that you shall (at your own costs) from time to time on request execute documents and take such other acts and steps as we may require to perfect or preserve the Collateral and to create new or further security interest over the same, to facilitate the enforcement of any of the Collateral.
9. NEW ISSUE APPLICATION
9.1 You agree to comply with all the terms and conditions governing Securities of the new listing and/or issue and the application for such new Securities set out in any prospectus and/or offering document and the application form or any other relevant documents in respect of such new listing and/or issue and you also agree to be bound by such terms and conditions in any such transaction you may have with us.
9.2 You recognize and understand that the legal, regulatory requirements and market practice in respect of application for new Securities may vary from time to time. You undertake to provide us with such information and take such additional steps and make such additional representations, warranties and undertakings as may be required in accordance with such legal, regulatory requirements and market practice.
9.3 When you ask us to apply for new issues on your behalf, you represent and warrant to and agree with us that:-
(a) (if the application is made for the securities trading account) no other application is being made for the securities trading account by you or by anyone applying as your agent or by any other person;
(b) (if the application is made by you as agent for the account of another person) no other application is being made by you as agent for or for the account of that person or by that person or by any other person as agent for that person;
(c) the applicants under such applications are fully entitled to make such application and hold Securities applied for and no breach of any law, regulation or other requirement in any part of the world will arise or result from the making or approval of any such application; and
(d) we have due authority to sign an application on your behalf.
9.4 You acknowledge and confirm that, if an application is made by an unlisted company that does not carry on any business other than dealing in shares and in respect of which you exercise control, such an application shall be deemed to be an application made for your benefit.
9.5 You agree and acknowledge that the foregoing representations and/or warranties will be relied on by us in making the application, and by the issuer in deciding whether it will make allotment to such application.
10. CUSTODY SERVICE
10.1 You engage us to act as custodian for you to provide custody of Securities subject to our agreement and also subject to the terms and conditions herein. You agree not to pledge, charge, sell, grant an option or otherwise deal in any of Securities without our written consent.
10.2 We shall arrange for Securities to be registered in the name of you or in the name of us or held in safe custody in accordance with the Applicable Laws and market practice of Exchange or Clearing House. Further, we shall deposit such amount of Eligible Securities as we in our absolute discretion determine in the CCASS Depository either in the form deposited or registered or re-issued in the name of HKSCC or in the name of the CCASS Nominee.
10.3 We shall collect any dividends, interest, payments or other entitlements to which you may be entitled and of which we are notified and shall remit the same to you as soon as possible after deduction of any taxes and duties payable or credit the same to the securities trading account.
10.4 We have no obligation to attend meetings of holders of Securities or exercise any rights unless otherwise agreed with you in writing.
10.5 Instructions to withdraw or transfer Securities are subject to such notices, quantity restrictions, payments and procedures as we may determine. We may need to take delivery from the seller or custodian or complete a transfer to you in accordance with the Applicable Laws and market practice and the place for collection of any certificates or documents shall be designated by us from time to time.
10.6 Securities held by us as custodian for you under and pursuant to this clause 10 are so held at your sole risk and we shall not be responsible for or liable in respect of any loss or damage suffered by you in connection therewith.
11. INVESTMENT ADVISORY SERVICE
11.1 You may appoint us as your investment adviser in relation to the followings:-
(a) all Securities from time to time deposited or held in the Account and accepted by us for advisory service hereunder;
(b) all monies from time to time deposited into the Account or such other accounts specified by you and accepted by us for advisory service hereunder; and
(c) all monies arising from Securities held in the Account or such other accounts with us (the
“Portfolio”) subject to and upon the terms and conditions contained herein.
11.2 We may, having accepted your appointment hereunder, provide you with market information and data, market views, research products, investment ideas, advice in regard to specific investment and risk management opportunities, or investment recommendations (collectively the "Investment Advice"), which you may accept or reject, in whole or in part. In providing you with the Investment Advice, we shall have due regard to your financial position, investment objectives, experiences and restrictions relating to the Portfolio as illustrated by you to us from time to time.
11.3 You represent and acknowledge (which representations and acknowledgements shall be repeated
by you on each date on which transaction is entered into under the Agreement) that: -
(a) the Portfolio is not managed or supervised by us, and that we accept no responsibility for managing and supervising the Portfolio;
(b) we are not obliged to update or review any of the Investment Advice that may have been made to you. Events occurring subsequent to the Investment Advice being given may prejudice the Investment Advice’s correctness, appropriateness and suitability and that we give no undertaking or warranty that Securities will perform in accordance with the Investment Advice; and
(c) transactions that you instruct us to enter into shall be subject to any or all of the risks described in the risk disclosure statements.
11.4 Where we provide you with investment advice or other services in relation to any specific product including, without limitation, any Structured Product, we may supply you with the issuers' product specifications, descriptions and any prospectus or other offering or constitution documents relating to such Structured Product. We accept no liability for the accuracy or correctness of any information, whether in the relevant product specifications, descriptions, prospectus, offering or constitution documents or otherwise, obtained or originated from third parties (including the issuer or counterparty of any Structured Product) which may be provided to you.
11.5 We give no undertaking or warranty as to the performance or profitability of the Portfolio.
11.6 To the extent permitted by the Applicable Laws, we shall not be liable for any loss of opportunity resulting in the increase in the value of the Portfolio, any decline in the value of the Portfolio, any error of fact or judgment mistake of law, any loss arising out of any of the investments of the Portfolio or any act or omission in the execution of the Agreement.
12. STRUCTURED PRODUCT
12.1 In executing the Structured Product Transaction, we may act as your agent or the principal subject to the terms and conditions contained herein. Unless otherwise provided in writing, we shall act as the principal to enter into transactions with you or provide the Service for you.
12.2 Without prejudice and in addition to all representations, warranties and acknowledgments in the foregoing provisions given by you, you hereby further represent and warrant to and undertake with us (which representations, warranties and undertakings shall be repeated by you on each date on which transaction is entered into under the Agreement) that you have or will have:-
(a) sufficient knowledge, experience and understanding relating to the investment and all other related matters and you are capable of evaluating the Structured Product, the regulatory treatments of transactions which you enter into and such legal terms and conditions as we may provide from time to time; and
(b) the financial resources to absorb the risk of any loss that may be associated with the entry into of the Structured Product Transaction;
12.3 In regard to any of the Structured Product Transaction, we shall, upon your request and subject to the Applicable Laws, provide you with a statement or summary demonstrating the descriptions, the specifications, the features, the particulars or otherwise relating to the relevant Structured Product or the risk associated therewith (the “Statement of Structured Product”). You agree, confirm and acknowledge that we accept no liability for the accuracy or correctness of any information, whether in the relevant specifications, descriptions, prospectus, offering or constitution documents or otherwise, obtained or originated from third parties (including but not limited to the issuer or counterparty of any of the Structured Product) which may be provided to you.
12.4 You agree and declare that you will and are deemed to have read the Statement of Structured
Product (if made available to you) prior to your entry into any of the Structured Product Transaction and will fully understand the descriptions, specifications, features, particulars and other relevant details of the Structured Product as well as the risks associated therewith.
12.5 You acknowledge and agree that you will seek independent and professional advice on the Structured Product to be dealt with or the Structured Product Transaction to be entered into by you if you consider fit and necessary.
12.6 You agree to ensure that, at the time you give your instructions to enter into the Structured Product Transaction, you have deposited sufficient cleared funds in the Account or such other accounts for payment of the relevant value under the Structured Product Transaction. Notwithstanding the foregoing, we may (but not obliged to) enter into the Structured Product Transaction for or with you despite that, at the time of your entry into the relevant transaction, you do not have sufficient cleared funds in the Account or other accounts for payment of the relevant value without further notice to you. In that event, you shall forthwith place sufficient cleared funds into the Account or such other accounts as agreed by us as soon as possible for the purpose of payment of the relevant value.
12.7 Each of the Structured Product Transaction entered into hereunder will be confirmed in writing by us as to the agreed terms of the Structured Product Transaction and which confirmation will set out sufficient details or particulars for identifying the Structured Product Transaction (the “Structured Product Confirmation”). The Structured Product Confirmation constitutes a supplement to and forms an integral part of the agreement in relation to the Structured Product Transaction. In respect of a particular Structured Product Transaction, in the event of any difference between the provisions of the relevant Structured Product Confirmation and the other documents evidencing the terms and conditions thereof, the provisions of the Structured Product Confirmation shall prevail.
12.8 You have a duty to carefully examine all information and particulars set out in the Structured Product Confirmation and acknowledge the correctness of the Structured Product Confirmation by countersigning the duplicate copies thereof and return them to us within 3 days of the date of issuance of the Structured Product Confirmation or such other time limit as may be specified by us from time to time in our absolute discretion. If no objection to us in writing is raised by you within 3 days of the date of issuance of the Structured Product Confirmation or such other time limit as may be specified by us from time to time in our absolute discretion, all or any part of information data and particulars in the Structured Product Confirmation are considered to be correct, conclusive and binding on you.
12.9 You understand and acknowledge that you are obliged to settle the Structured Product Transaction in cash or delivery of the specified underlying asset upon settlement on the specified settlement day (the “Settlement Date”).
12.10 Where the Structured Product Transaction may expire unless appropriate action in connection with the redemption of the Structured Product Transaction is taken on the Settlement Date, the following provisions shall apply:-
(a) it is your sole responsibility to understand the rights and terms of all of the Structured Product Transaction and you are required to take all necessary actions in connection with the redemption of the Structured Product Transaction;
(b) if you fail or omit to instruct us at least 3 Business Days before the Settlement Date or such other time limit as may be specified by us:-
(i) where the redemption of the Structured Product Transaction is not obligatory, it shall be conclusively deemed that you have irrevocably waived forgone or renounced all your rights and entitlements regarding the redemption of such Structured Product Transaction and we are entitled to deal with or otherwise dispose of such Structured Product Transaction in the manner as we shall consider fit; or
(c) if you instruct us at least 3 Business Days or such other time limit as may be specified by us before the Settlement Date to take appropriate action for the redemption of the Structured Product Transaction, we are not obliged to follow your instruction to redeem unless and until sufficient cleared funds or specified underlying assets in an appropriate form (as the case may be) have been deposited with us when you give your instruction and, in default thereof, the provisions of clause 12.10(b)(ii) above shall apply as if you have failed to give us instruction in a timely manner.
12.11 Where Structured Product Transaction provides for settlement in cash or delivery of the specified underlying asset upon settlement on the Settlement Day, you represent and warrant to and undertake with us that:-
(a) where the Structured Product Transaction provides for settlement in cash on the Settlement Date, you shall make available to us sufficient cleared funds to enable us to fully satisfy on your behalf your settlement obligations in respect of such Structured Product Transaction before the Settlement Date. If you fail or omit to fulfil your settlement obligations hereunder by the Settlement Date, we are authorized and empowered to sell or transfer any Securities or other assets in the Account or all cash, asset or property otherwise deposited with or held by us and/or Associate in satisfaction of your settlement obligations. You shall fully indemnify and keep us indemnified from and against all losses, damages, interest, actions, demands, claims whatsoever which we may suffer or sustain and all costs and expenses reasonably incurred by us as a result of effecting such a sale and matters directly or indirectly relating thereto or otherwise to your default in performance of your settlement obligations; and/or
(b) where the Structured Product Transaction provides for settlement by way of delivery of the specified underlying asset, you shall deliver the specified quantity of such assets in an appropriate form to us or otherwise settle such trade before the Settlement Date. If you fail or omit to fulfil your settlement obligations by the Settlement Date, we are authorized and empowered to execute on your behalf the purchase or acquisition of such specified underlying assets as are necessary to satisfy your settlement obligations hereunder. You shall fully indemnify and keep us indemnified from and against all losses, damages, interest, actions, demands, claims, legal proceedings whatsoever which we may suffer or sustain and all costs and expenses reasonably incurred by us as a result of effecting such a purchase or acquisition and matters directly or indirectly relating thereto or otherwise to your default in performance of your settlement obligations. We are also authorized and empowered to appropriate, withdraw and/or apply the relevant quantity of the appropriate assets from the assets you deposited with or held by us and/or the Associate so as to enable us to settle the Structured Product Transaction.
12.12 Unless otherwise agreed between you and us, we are not obliged to notify you of any upcoming Settlement Date from time to time or to take any action on your behalf.
12.13 Upon the Settlement Date, we shall be entitled to debit the entire amount payable for the Structured Product Transaction (including, without limitation, the purchase price, all fees, charges, commissions, stamp duties, taxes or levies incurred and all other reasonable expenses) from the Account or such other accounts.
12.14 The net proceeds of the Structured Product Transaction after deducting all brokerages, commissions, charges, stamp duties and fees incurred and all other reasonable expenses shall first be applied towards payment and discharge (whether in whole or in part) of all indebtedness, if any, due and owing to us hereunder and the surplus, if any, shall be credited into the Account or such other accounts.
12.15 You agree that you are and remain fully responsible for all settlement and all other obligations in relation to any of the Structured Product Transaction entered into by you, regardless of the amount of cleared funds in the Account or such other accounts. In addition, you agree that we are at any time entitled to close out any or all contracts or agreements relating to the Structured Product Transaction effected by us for or with you, cover any short position of you through the purchase of the specified underlying assets on SEHK, other relevant Exchange or the OTC Market or liquidate any of your long position through the sale of the Structured Product on SEHK, other relevant Exchanges or the OTC Market, or take any other action as we may in our absolute discretion consider fit in relation to the relevant Structured Product Transaction if, in our reasonable opinion, we consider that you are or may be unable or unwilling to comply with any of your settlement or other obligations under the Structured Product Transaction entered into.
13. ELECTRONIC TRADING SERVICE
13.1 Upon the issuance by us to you of the Login Name and Password, the Electronic Trading Service shall be activated and we will notify you.
13.2 You agree and acknowledge that:-
(a) the Electronic Trading Service shall be activated and used by you in accordance with these Terms and Conditions;
(b) you shall be the only authorized user of the Electronic Trading Service unless otherwise agreed by us;
(c) you shall be solely and personally responsible for the confidentiality and use of the Login Name and Password;
(d) you shall be solely and personally responsible for all instructions entered through the Electronic Trading Service using the Login Name and Password and any instructions so received by us shall be deemed to be made by you at the time received by us and in the form received;
(e) you shall immediately inform us if you become aware of any loss, theft or unauthorized use of your Login Name or Password;
(f) we are at liberty to suspend the Electronic Trading Service if an incorrect Login Name and Password are entered on more than 3 occasions or such occasions as prescribed by us;
(g) if you use the Electronic Trading Service, you agree to provide us with your e-mail address, promptly provide us with any changes to your e-mail address and accept electronic communications from us at the e-mail address so provided;
(h) any consent you give through the Electronic Trading Service for us to provide any notices, statements, trade confirmations and other communications to you solely via Electronic Trading Service shall be conclusive binding on you; and
(i) you are obliged to logoff the Electronic Trading Service immediately following the completion of each Electronic Trading Service session.
13.3 Upon such receipt of electronic instructions from you, we shall send an instruction acknowledgement in the form prescribed by us. You agree that your receipt of an instruction acknowledgement is not a guarantee as to your instructions will be executed. If you do not
receive an instruction acknowledgement within 5 minutes following you entering instructions into the Electronic Trading Service, or if you receive an instruction acknowledgement with error, you are responsible for immediately notifying us. You further agree that non-receipt by you of the instruction acknowledgement do not necessarily mean your instructions will not be executed. In the event that you receive confirmation from us that the instructions have been executed but not in instruction acknowledgement, you shall still be responsible for the relevant trade.
13.4 You hereby acknowledge and agree that you may be prohibited from amending or cancelling an instruction in whole or in part once it is electronically sent to us and that an instruction may only be amended or cancelled if it has not been executed by us. In such circumstances we will diligently follow your instruction to amend or cancel the instruction. Notwithstanding any receipt by you of an instruction acknowledgement relating to the amendment or cancellation, we give no guarantee that the amendment or cancellation have actually effected. If the instruction is not amended or cancelled, you shall liable for the original instruction.
13.5 We may convey to you by the Electronic Trading Service the market information (the “Information”). You may be charged a fee for the Information. You understand that we obtain the Information from the Exchange, the Clearing House, the markets and third-parties that transmit the Information (collectively called the “Information Providers”).
13.6 The Information is our property, or the property of the Information Providers or others and is protected by copyright law. You undertake and warrant that you shall not use the Information or any part thereof for any purpose other than the authorized purposes.
13.7 You agree not to:-
(a) reproduce, retransmit, disseminate, sell, distribute, publish, broadcast, circulate or commercially exploit the Information for any illegal purposes or in any manners without our and the relevant Information Provider(s) express written consent;
(b) use the Information for any unlawful purpose;
(c) use the Information or any part thereof to establish, maintain or provide or to assist in establishing, maintaining or providing a trading floor or dealing service for trading in securities listed on the SEHK; and
(d) disseminate the Information to third parties.
13.8 You agree to comply with reasonable written requests by us to protect the Information Provider’s and our respective rights in the Information and the Electronic Trading Service.
13.9 You shall comply with such reasonably directions as we may give from time to time concerning permitted use of the Information.
13.10 You acknowledge that the Electronic Trading Service, and the software comprised in it, is proprietary to us. You warrant and undertake that you shall not, and shall not attempt to, tamper with, modify, decompile, reverse engineer or otherwise alter in any way, and shall not attempt to gain unauthorized access to any part of the Electronic Trading Service or any of the software comprised in it. You agree that we shall be entitled to terminate the Electronic Trading Service if at any time you breach, or if we at any time reasonably suspects that you have breached, this warranty and undertaking.
13.11 You acknowledge that the Information or market data made available to you through the Electronic Trading Service may be proprietary to third parties and you agree that you will not upload, post, reproduce or distribute any Information, software or other material protected by copyright or other intellectual property right (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights.
13.12 We, our Corresponding Agent and the Information Providers shall not be responsible for any losses, costs, expenses or liabilities suffered by you resulting from circumstances beyond our
reasonable control including, without limitation:-
(a) delays, failure or inaccuracies in transaction of communications to or from us through telephone, electronic or other system that are not under our control;
(b) delays, inaccuracies or omission in or unavailability of research, analysis, market data and other Information prepared by third parties;
(c) unauthorized access to communications systems, including unauthorized use of your Login Name, Password and/or account numbers; and
(d) war or military action, government restrictions, labor disputes or closure of or disruption to orderly trading on any market or Exchange, severe weather conditions and disaster.
13.13 You agree to defend, indemnify and hold us, our Corresponding Agent and the Information Providers harmless from and against any and all claims, losses, liability costs and expenses (including but not limited to attorney’s fees) arising from your violation of the Agreement, the Applicable Laws, the Exchange Rules and Regulations, or any third party’s rights, including but not limited to infringement of any copyright, violation of any proprietary right and invasion of any privacy rights. This obligation will survive the termination of the Electronic Trading Service.
13.14 We reserve the right to terminate your access to the Electronic Trading Service or any portion of them in our sole discretion, without notice and without limitation, for any reason whatsoever, including but not limited to the unauthorized use of the Login Name, the Password and/or account number(s), breach of the Agreement or these Terms and Conditions, discontinuance of our access to any Information from any Information Provider or termination of one or more agreements between us and Information Providers.
13.15 In the event of termination by us, the Information Providers, and we shall have no liability to you; provided, however, that if the termination is without cause we will refund the pro rata portion of any fee that may have been paid by you for the portion of the Electronic Trading Service not furnished to you as of the date of such termination.
13.16 You acknowledge and accept the risks of using the Electronic Trading Service which include, without limitation, the following risks:-
(a) if you undertake the Transaction via the Electronic Trading Service, you will be exposed to risks associated with the Electronic Service system including the failure of hardware and software, and that the result of any system failure may be that your order is either not executed according to your instructions or is not executed at all;
(b) that due to unpredictable traffic congestion and other reasons, the Electronic Trading Service may not be reliable and that the Transactions conducted via the Electronic Trading Service are subject to delays in transmission and receipt of your instructions or other Information, delays in execution or execution of your instructions at prices different from those prevailing at the time your instructions were given, transmission interruption or blackout, that there are risks of misunderstanding or errors in communication, and that there is also usually not possible to cancel an instruction after it has been given. We accept no responsibility for any loss which may be incurred by you as a result of such interruptions or delays or access by third parties. You should not place any instruction with us by electronic means if you are not prepared to accept the risk of such interruptions or delays; and
(c) market data and other Information made available to you through the Electronic Trading Service may be obtained by us from third parties. While we believe such market data or Information to be reliable, neither we nor such third parties guarantees the accuracy, completeness or timeliness of any such market data or information.