Company Details Form - C - BMI

Investment Valuation
A list of the securities held by the Bank for account of the Client
will be prepared and forwarded to the Client at periodic intervals
which will be normally at monthly intervals.
Fees and Expenses
The Client shall pay the Bank:
- A commission for executing each transaction concerning
the acquisition and disposal of securities, in an amount
which shall be as agreed.
- An administration and custodial fee and such other fees
as agreed.
- All costs, liabilities and expenses incurred by the Bank
including but not limited to brokerages, commissions, stamp
duties, taxes, registration and custodian fees which may be
incurred by the Bank in the course of transacting or dealing
in, or carrying out the Client’s instructions.
The Client will indemnify the Bank against any and all liabilities
with respect to or resulting from any delay, or failure on the part
of the Client to pay such duties or taxes. The Bank may share
dealing charges with associated companies or third parties,
or receive remuneration from them in respect of transactions
carried out on behalf of the client. Details of such remuneration
or sharing shall not be disclosed.
Lien and Power of Sale
All securities, deposits and other investments including any
proceeds thereof which are held by the Bank for the Client
shall be subject to a general lien with a power of sale for the
discharge of all the Client’s obligations of the Bank.
The Bank may close-out the Client’s position without prior notice
to the Client after it has determined at its sole discretion that
the Client has not performed any of its obligations to the Bank,
or after the Bank has reasonably determined that the Client may
not be able or willing in the future to perform its obligations to
the Bank or there has been a material adverse change in market
or economic conditions. The Bank shall in particular, be entitled
but not obliged to take the following action (but shall not be
limited to such action for closing out the Client’s position):
- to treat all investment dealing transactions then outstanding
as having been terminated or cancelled and/or
- to sell such of the Client’s investments as the Bank may in
its discretion select in order to realize funds to cover any
outstanding amount and/or
- to close out, replace or reverse any such transaction, enter into
such other transaction, or take, or refrain from taking, such
other action at such time or times and in such manner as, at
its sole discretion, the Bank considers necessary or appropriate
to cover, reduce, or eliminate any loss or liability under or in
respect of any contracts, positions or commitments.
any credit balance in any such account or other accounts of the
Client, all accounts of the Client with the Bank for this purpose
being treated as single, integral and indivisible.
Liabilities and Indemnities
The Client acknowledges and agrees that the Bank shall have no
obligation to or in respect of any person on behalf of whom the
Client is acting as trustee, agent or intermediary.
The Client acknowledges and accepts that he is aware of and
understands the risks involved in transactions which the Bank
may enter into at his instance and on his behalf. The Client
herby agrees to indemnify the Bank and to accept full liability
for any losses arising out of such transactions.
The Bank will not be responsible for any error of fact or
judgement or for any action lawfully taken or omitted to be
taken under this agreement, except through its own negligence
or willful default.
The Bank will not be responsible for any loss of opportunity
whereby the value of the investments could have been increased
or for any diminution or decline in the value of the investments
and the Client hereby acknowledges and agrees that the sole
responsibility for all investment decisions vests in him.
The Bank shall not be responsible for the solvency of any bank,
clearing house, broker, intermediary or other agent employed
by the Bank in good faith and with due care and diligence for the
performance of such other parties’ duties. The risk with respect
to agreements and transactions entered into and investments
deposited with any such person or institutions by the Bank
on behalf of the Client shall be for the account of the Client,
whether or not such agreements and transactions were entered
into, and whether or not such investments were deposited in
the name of the Client, provided that the books of the Bank
show that such agreements or transactions were entered into
and/or such deposit was made for the account of the Client.
Representation and Warranties
By entering into this agreement, the Client represents and
shall be deemed to confirm for the bank’s benefit that it has
the power lawfully to conduct business upon the terms and
conditions set forth herein, and to enter into this agreement
validily and lawfully and that the conduct of such business
has been duly authorized by appropriate corporate or other
action and that all necessary approvals or consents have been
obtained. The signatories hereto on behalf of the client hereby
indemnify the bank for acting on this representation.
The Client warrants and represents that he is the legal and
beneficial owner of the securities, cash and other investments
and that no other person has any legal or beneficial interests in
the same.
In the event that the Client should fail to pay on the due date
any sum due to the Bank in terms of this Agreement, the Bank
is irrevocably authorized and instructed by the Client, without
prior notice or reference, to debit any account or accounts of
the Client with the Bank and to set-off any such amount against
The Client has the authority, power and legal capacity to enter
into and perform the obligations under this agreement and this
agreement constitutes a valid and legally binding obligation on
the Client.