Company Details Form - C - BMI

More documents

Recommendations

Info

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. <strong>Details</strong> 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.
Methods and Term of Dealing, Aggregation and Averaging The Bank may effect transactions through such agents or intermediaries, including connected parties, as it may from time to time select, but subject to any duty or liability which the Bank has under any regulatory system, it shall not be liable for any act or omission of any such agent, or intermediary, whether negligent, willful or otherwise. All transactions effected under this Agreement will be subject to the rules and customer of the exchange or market and/or any clearing house through which the transactions are executed and to any applicable law. In case of conflict between this Agreement and any such rules, customs and law, the latter shall prevail and be binding on the Client. The Bank may combine sales or purchases on behalf of the Client with sales or purchases on behalf of other clients or its own sales or purchases and where this results in a number of transactions at different prices, may average the prices obtained so that all the clients involved in the transactions pay or receive the same average price. Such combination may result in the Client obtaining sometimes a more and sometimes a less favourable price than what could have been achieved had the transactions been executed separately. Remedies and Waivers No delay or omission on the part of the Bank in exercising any right, power or remedy provided by law or under this Agreement shall impair such right, power or remedy or operate as a waiver thereof. Force Majeure In the event of any circumstances beyond reasonable control of the Bank including, but without limitation, any failure, interruption, or delay in the performance of its obligations resulting from breakdown, failure or malfunction of any telecommunications or computer system or service, the Bank shall not be deemed to be in breach of this Agreement or otherwise liable for any delay in performance or for any non-performance of any of its obligations under this agreement, nor shall it be liable or have any responsibility of any kind for any loss or damage thereby incurred or suffered by the Client. Termination This Agreement may be terminated by the Bank at any time upon giving written notice of the same to the Client. The Client may terminate this Agreement at any time upon giving 15 days prior notice to the Bank. Upon termination as aforesaid, the provisions of this Agreement shall nevertheless remain in effect with respect to all securities and other investments then held for the Client and in respect of all transactions previously executed hereunder and all orders given by the Client previously and accepted by the Bank and not otherwise cancelled pursuant to the express terms of this Agreement. Miscellaneous Provisions All dates and periods of time referred to shall be ascertained in accordance with the Gregorian calendar. This Agreement shall be governed by and constructed in accordance with English law and the parties agree to submit themselves to the non-exclusive jurisdiction of the Courts of England. Nothing contained in this Agreement shall limit the right of the Bank to take proceedings against the Client in any other court of competent jurisdiction, nor shall the taking of proceedings in one or more jurisdictions preclude the taking of proceedings in any other jurisdiction, whether concurrently or not, to the extent permitted by the law of such other jurisdiction. The Bank may at any time assign all or any part of its rights and benefits under this Agreement or giving not less then one months notice to the Client. The Client shall not assign all or any part of its rights or benefits under this agreement. Any notice, instruction or other communication given or made under or in connection with this Agreement shall be in writing. Any such notice, instruction or communication shall be given by registered letter or by facsimile (with original to follow by registered post) to the address or telefax number (as appropriate) of the parties shown in this Agreement (or such other address or telefax numbers which the parties shall notify). Place: _____________________ Authorized signatory Witness: _____________________________________ _____________________ Authorized signatory Witness: _____________________________________ Name: _____________________________________ Name: _____________________________________ Address: _____________________________________ Address: _____________________________________
Page 1 and 2: BMI Bank B.S.C.(c.), Bahrain World
Page 9 and 10: (c) Time Deposit - Interest on time
Page 11 and 12: 18.7 Exclusion of liability BMI Ban
Page 17 and 18: 6. Expense & Charges 6.1 The Bank s
Page 19: BMI Bank B.S.C.(c.), Bahrain World
Page 23 and 24: European & Latin America Capital Ma
Page 25: 2. Failing payment by me/us on dema

Company Details Form - C - BMI

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?