These Terms & Conditions contain very important information about your investment, privacy and security as well as the terms associated with investments. I understand that the terms and conditions of this Agreement govern all aspects of my relationship with Sonoma International Limited. The terms set forth below have the following meanings as used in the Agreement:
Parties
You agree that the parties to this Agreement shall consist of us and you. If this is a joint account (including a community property account), the term “you” refers to each account holder. Except as disclosed in writing to us, no person other than you has any interest in the account. If this is a joint account, each account holder has full authority to act on behalf of the account and you authorize us to follow the instructions of any account holder as if such person were the sole account holder. All obligations arising hereunder are joint and several and may be enforced by us against any or all account holders. Notwithstanding the foregoing, we may require joint action by all account holders with respect to any matter concerning the account, including the giving or cancellation of orders, and the withdrawal of monies, securities or other property. In the event of the death of either or any of the joint account holders, the surviving joint account holder(s) shall immediately give us written notice thereof, and we may, before or after receiving such notice, take such action, require such papers and inheritance or estate tax waivers, retain such portion of and/or restrict transactions in the account as we may deem advisable. The surviving joint account holder(s) and the estate of the deceased joint account holder shall be jointly and severally liable to us for any net debit balance or loss in the account in any way resulting from transactions initiated prior to the receipt by us of the written notice of the death or incurred in the liquidation of the account or the adjustment of the interests of the respective parties.
Laws governing joint ownership of property vary from jurisdiction to jurisdiction. Generally, however, for joint tenants with rights of survivorship, in the event of the death of either tenant, the entire interest in the joint account shall be vested in the surviving joint tenant(s) on the same terms and conditions. For tenants in common, the interest in the tenancy shall be equal unless specified and in the event of death of either tenant, the interest in their share of the tenancy shall vest in the decedent’s legal representative. State laws regulating community property vary. Consult your own legal adviser.
Account: Each Account is established in my name alone, in my name together with others or in which I have a beneficial interest.
Account Application: The application I prepare and submit to open an Account and as part of which I consent to the terms and conditions of this Agreement, including all information provided by me in connection with the opening or maintenance of my Account.
Account holder: This shall mean the person, corporation, partnership, trustee, custodian or other entity in whose name the Account is opened. The singular of Account holder where appropriate shall include the plural.
Service: Any service or facility that Sonoma International Limited may provide, including through electronic means.
Settlement Date: The day on which a transaction is to be settled. On this day you are required to pay for purchases and sellers are required to deliver funds or credit buyer’s account.
Business Days: Monday to Friday. Although we may conduct business on bank holidays, bank holidays are not considered Business Days for purposes of settlement periods.
Market Data: Quotations, transactions and last sale information disseminated by Data Providers and all information based on such information.
Securities: This includes stocks, IPOs and other financial investments and related contracts, whether certificated or un-certificated, registered or unregistered and whether for present or future delivery, and all rights and entitlements thereto. This definition includes the securities and other property and the proceeds thereof currently or in the future held, carried or maintained by us or any third party, in the possession or control of any such third party, for any purpose, in and for any of my current or future Accounts, including any Account in which I have a beneficial interest.
Restricted Securities: Securities owned or under purchase rights subject which are restricted or control securities, or securities owned under restricted transferability due to an agreement with the owner and the issuer.
Advice: Unless otherwise specified in writing, Sonoma International Limited do not and will not provide me with any legal, tax, estate planning or accounting advice. Unless otherwise specified, any information provided through the Service will not be used or considered by me as a recommendation that I buy, sell or hold a particular security or pursue any particular investment strategy. Sonoma International Limited neither assumes responsibility for nor guarantees the accuracy, currency, completeness or usefulness of information, commentary, recommendations, advice, investment ideas or other materials that may be accessed by me through the Service. If I choose to rely on such information, I do so solely at my own risk. I under-stand that the research, analysis, news or other information made available is not personalized or in any way tailored to reflect my personal financial circumstances or investment objectives and the securities and investment strategies discussed may not be suitable for me.
Fees and Charges.
You understand that we will charge commissions and other fees for clearing, execution, custody, storage, delivery or any other service furnished to you and you agree to pay such commissions, fees and interest on monies owed to us at our then-prevailing rates. You understand further that such commissions, fees and interest rates may be changed from time to time. You will also be charged a fee for positions transferred to another broker. We may receive remuneration for directing orders to a particular broker or dealer or market center for execution. Such remuneration is considered compensation to us. We may pay a portion of fees and commissions charged to your Account to third-parties that have introduced your account to us or serviced your account. You understand that we or an affiliate may act as principal in certain transactions with you, including but not limited to, cash market transactions, forward contracts, or exchanges of physicals for futures (“EFPs”).
IMPORTANT: BY COMPLETING THE ACCOUNT REGISTRATION PROCESS YOU AGREE TO BE BOUND BY THESE TERMS. IF YOU ARE DISSATISFIED WITH ANY PRODUCTS, SERVICES, CONTENT, OR OTHER INFORMATION AVAILABLE FROM US, THEN YOU MUST REFER TO THIS AGREEMENT. YOUR AGREEMENT WITH US REGARDING COMPLIANCE WITH THESE TERMS OF USE BECOMES EFFECTIVE IMMEDIATELY UPON COMMENCEMENT OF YOUR TRADING ACCOUNT.
“force majeure” (e.g., flood, extraordinary weather conditions, earthquake or other act of God, fire, war, insurrection, riot, communications or power failure, equipment or software malfunction) or any other cause beyond the reasonable control of Us.
If you fail to immediately notify us regarding any of the above, neither ourselves nor our affiliates or assigns can or will be held responsible or liable to you, or to any other person whose claim may arise through or against us, for any claims for damages of any sort, including both actual and consequential damages, with respect to the handling, mishandling, or any act or failure to act, as regards your account or instructions to act.
(“Advisory Account”). I may also contract with other Authorized agent(s)/Adviser(s) that I independently identify to manage my Advisory Ac-count. Sonoma International Limited will have no responsibility or liability for any advice, recommendation or trading by such Authorized agent(s)/Adviser(s). I understand that Sonoma International Limited will maintain an Advisory Account for me and buy, sell or exchange securities or other products in accordance with instructions from me or my Authorized agent(s)/Adviser(s).
I understand that this Agreement governs my Advisory Account and my relationship with Sonoma International Limited without limiting any other provision of this Agreement, I understand and agree that as among me, my Authorized agent(s)/Adviser(s) and Sonoma International Limited. I have selected my Authorized agent(s)/Adviser(s) based on criteria that I deem appropriate for my investment needs and will not hold Sonoma International Limited responsible for my decision to hire the Authorized agent(s)/Adviser(s). All decisions relating to my investment or trading activity shall be made solely by me or my Authorized agent(s)/Adviser(s) identified by me to Sonoma International Limited. Sonoma International Limited is authorized to accept and act upon the instructions of my Authorized agent(s)/Adviser(s) with respect to my Advisory Account in accordance with this Agreement until Sonoma International Limited receives my written notice revoking such authority. This authorization shall be applicable to all assets I hold in the specified Advisory Account.
No Authorized agent/Adviser, whether or not it is affiliated with Sonoma International Limited, is authorized to act or make representations on behalf of Sonoma International Limited. I shall indemnify and hold harmless Sonoma International Limited its directors, employees, agents and affiliates from and against any and all losses, claims or financial obligations that may arise from any act or omission of my Authorized agent(s)/adviser(s) with respect to my Advisory Account.
Securities may open for trading at prices substantially higher or lower than the previous closing price or the anticipated price. If I place a market order (whether during normal market hours or when the market is closed), I agree to pay or receive the prevailing market price at the time my market order is executed.
You agree that we may modify the terms of this Agreement at any time upon prior written notice to you. By continuing to accept services from us, you will have indicated your acceptance of any such modification. If you do not accept any such modification, you must notify us thereof in writing and your account may then be terminated, but you will still be liable thereafter to us for all remaining liabilities and obligations. Otherwise, this Agreement may not be waived or modified absent a written instrument signed by an authorized representative of ours. No oral agreements or instructions purporting to amend this Agreement will be recognized or enforceable.
If any provision hereof is or should become or be deemed to be inconsistent with any present or future law, rule or regulation of any court, arbitral body, sovereign government or regulatory body having jurisdiction over the subject matter of this Agreement, such provision shall be deemed to be rescinded or modified in accordance with any such law, rule or regulation. In all other respects, this Agreement shall continue to remain in full force and effect.
You shall have no claim against us or any of our affiliates for any loss, damage, liability, cost, charge, expense, penalty, fine or tax caused directly or indirectly by: (a) any law, regulation, rule or order; (b) suspension, or termination of trading; (c) war, civil or labor disturbance; (d) any delays or inaccuracies in the transmission or reporting of orders or other information due to a breakdown or failure of any transmission or communication facilities for any reason; (e) failure or delay for any reason of any broker, bank, depository or custodian to fulfill its obligations or to pay in full any amounts owed to us; (f) failure or delay by any entity which, consistent with applicable regulations, is holding customer segregated funds, securities or other property, to pay or deliver same to us; or (g) any other causes beyond our control.
We will execute your transactions solely as your agent. In executing transactions on an exchange, we may use floor brokers (who may be our employees or other agents of ours), but we will not be responsible to you for negligence or misconduct of an independent floor broker if, at the time the floor broker was selected, the floor broker was authorized to act as such under the rules of the relevant exchange and the appropriate regulatory agency. We will not be responsible to you in the event of error, failure, negligence or misconduct on the part of any intermediary, commodity trading advisor or other person acting on your behalf and, without limitation, we have no obligation to
investigate the facts surrounding any transaction in your Account(s) which is introduced by such intermediary, commodity trading advisor or other person. You will indemnify us and hold us harmless from and against any and all liabilities, penalties, losses and expenses, including legal expenses and attorneys’ fees, incurred by us as a result of any error, failure, negligence or misconduct on the part of any such intermediary, commodity trading advisor or other person acting on your behalf. We shall only be liable for actions or inactions by us which amount to negligence, willful misconduct or fraud. You also agree that we shall not be liable to you for any losses, costs, expenses or other damages sustained by you in the event of any failure or delay by any exchange, market, clearing house, bank or other depository institution where any of your funds or other assets are maintained, or a failure or delay by any member, bank or agent of any of the foregoing, or a failure or delay by any of the foregoing to enforce its rules, to fulfill its obligations or to make any payment, for any reason whatsoever. You waive any claim, cause of action or right as against us, our employees or agents that may arise or occur as a result thereof.
Copyright © 2021 | Sonoma International Limited. CR No.2405828 | All Rights Reserved.
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