by placing an order through internet system, the customer accepts unconditionally and irrevocably the resulting executed deal with the securities markets and deliver any documents and to pay or receive cash amounts and to take any decision that may be deemed necessary or appropriate by the Company in order to give effect to the deals assumed by virtue of the execution of the order.
1-2 Order means:
Orders shall be sent to the trading system of the Abu Dhabi/ Dubai Securities Market directly through the Company's web site except when the order is made in written via mail, express courier or hand delivery accompanied with a telephone call.
1-3 Purchase of Securities:
So as to execute orders of the purchase of securities it is necessary that the Customer's account includes the authority of purchase before the implementation of the order. Any order accepted and executed inattentively without the existence of the sufficient authority of purchase shall be subject to cancellation and clearance at the company's discretion after obtaining the approval of the General Manager of the market, however, the Customer shall be responsible over all of his/her orders including any orders in excess of the available cash limit in his/her account, and in case the order is executed while the limit intended is not available in his/her account, the Customer shall add the required amount into his/her account with the company under a personal check, cash check, bill of exchange or a transfer from him to the account or by any other means within two days from the date of trade. The same shall be subject to notification as far as the laws of money laundering in United Arab Emirates and the directions of the Securities and Commodities Authority are concerned. The payments thereof shall be collected at or prior to the settlement date, otherwise the Customer's position may be subject to liquidation after taking the approval of the general manager of the market without any notice, and in case of the liquidation of the Customer's account, the Customer shall be committed to pay any losses resulting therefrom in addition to all the related charges incurred by the Company.
1-4 Receipt of Orders:
the subscriber shall acknowledge that the time limit when he/she is allowed to send trading instructions to the Company are the ordinary trading hours, and any applications sent to the Company after the ordinary trading hours or in the public off days shall be inconsiderable and shall have no legal effect upon the Company until the first working day after such off day.
2- Trading Limit:
If a limit was determined upon the Customer's account with the Company, such limit shall not be exceeded through this service.
3- Exposure to Risks:
the Customer shall acknowledge that he/she accepts all the related risks of these services such as:
• The securities risks related to the breach of system by the computer pirates or any third party.
• Risks related to the loss of password or the use of password by unauthorized third party.
• Risks related to a trouble in the trading system, delays in the execution, or while placing orders in the markets or loss of orders through communications.
• Refusal or negligence of the order by the markets or by the Company.
• Risks of dualism or deliberate recurrence of the given order via the system by the Customer.
• Risks related to computer viruses on the part of the service supplier or the Company's system or the systems of the Customer.
• Risks of the possibility that the Customer's systems may not suit the trading system.
• Any risks related to another system not mentioned above and which may be detected usually by internet technicians.
• In case of an internet interruption or a trouble, it is kindly requested to send the Customer's orders via the usual means to the Company observing to complete the process successfully.
4- Determination of the Company's Responsibility:
The Company, any other subsidiary company or any of its officials, employees or agents shall not be held responsible towards the Customer for any losses, damages, costs or other liabilities incurred by the Customer due to his/her use of the trading system provided by the company, which shall include but not limited to:
• The intervention of breach of system by computer pirates or by any third party resulting into the modification or submission of the Customer application on a false basis, and all the orders submitted by having access to the system and the Customer's password shall be deemed binding and final and the Company shall not bare any compensation responsibility thereof.
• The Customer shall be deemed responsible alone over the use of his password as of the date of receipt of password on ---- / ---- / --------, and shall incur all the liabilities resulting from the loss thereof or the use thereof by third party or by persons not allowed thereto- or as a result to any trouble in the trading system such as the inactivation of programs or troubles on the part of the service supplier or virus attack or any other accidents that may lead to a delay or failure in the execution, modification, termination or loss of an order through communication.
• If the customer doubts that somebody is manipulating their accounts through the service or that the user name and the password were known by a third party, they shall inform Vision Capital Brokerage Co. immediately thereof, and confirm the same in written, and the customer shall remain responsible over all the amounts and any other obligations resulting from the use of their user name and password until the end of the day when the customer delivers the written notice to Vision Capital.
• The Company shall reserve the right to refuse any order if it interprets it as being inappropriate, liable to expose the company's financial position to danger or as being in contradiction with stock markets laws and regulations.
5- Other Terms and Conditions:
• The Company may alone withdraw, cease or ban the service temporarily for accidental circumstances without giving a prior notice to the Customer while the company shall assume no legal liability against the same.
• The books, registers and documents of Vision Capital Brokerage Co. and its other documents executed under the present agreement shall be deemed as strong evidence and shall be relied on in solving any dispute related to figures, transactions, data, expenses, fees, documents, instructions or any other affairs which constitute a dispute between the customer and Vision Capital.
• Both the Customer and Vision Capital Brokerage Co. may revoke the subscription to the service. However, if the customer wishes to revoke the subscription, he/she is obligated to submit a written request therefore
6- Original Agreement:
The original agreement to open the account concluded between the two parties shall remain ruling and governing the relation between them, and the terms and conditions included in this agreement shall be the terms and conditions of the use of the additional online trading service provided by the Company to its customers interested therein.