DMS-Banking Investment Associates
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DMS-Banking Investment Associates
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DMS
- Banking Investment
Associates THE FOLLOWING IS A LEGAL BINDING CONTRACT
BETWEEN ME AND DMS - BANKING AND GOVERNS MY USE OF ITS CONTENT AND SERVICES AND
MY ACCOUNT WITH DMS - BANKING. In this Agreement, "I", "me",
"my" and "we", "us", "our" refer to the
individuals, corporations or parties who are the account owners, have an
interest in the account(s), and consent to be bound by the terms of this
Agreement. "DMS" refers to "DMS - Banking S.A." it's
employees, representatives, officers, directors, agents, successors and assigns. My relationship with DMS - Banking The terms and conditions of this
Agreement apply to DMS and me.
Certain provisions, as indicated, will also apply to Information Providers,
Service Providers, affiliates of DMS and
me. In consideration of DMS opening one or more accounts on my behalf, I
understand and agree to the following. 1. My account(s) with DMS is self -
directed. I acknowledge that I am solely responsible for any and all orders
placed to my account(s). DMS does provide me with investment advice; therefore,
any investment decision that I make or investment strategy that I utilize is
done so at my will, sole discretion and at my own risk. I further acknowledge
that while I may be able to access certain third - party financial or investment
information or services through DMS, the availability of such information does
not constitute a recommendation by DMS to invest in any investment strategy
discussed therein. 2. DMS employees are not authorized to
give investment, tax or other financial advice, and I will not solicit or reply
upon such advice from DMS. 3. I understand that all investments
involve risk. I am responsible for knowing the terms of all investments
through my account(s) and for monitoring the occurrence of any reorganizations
or other events, involving my investments. DMS is obligated to notify me of
reorganizations or other events affecting my investment(s), without specific
instructions from me, to take any actions on my behalf with respect to such
events. 4. In all investment fund transactions,
DMS is acting as my agent, except when DMS discloses to me in writing, at or
before the completion of a particular transaction. DMS may act as a principal in
investment transactions and will disclose to me in writing, at or before the
completion of the particular transaction, that it is acting as a principal. 5. DMS and any affiliate or subsidiary (cumulatively
"DMS Entity") that carries any of my accounts for which DMS acts as
Investment Associate, may accept instructions concerning any of my accounts or
the property in any of my accounts, without inquiry or investigation, unless the
DMS Entity receives prior written notice to the contrary from me. About the Applicant(s) 6. I have the required legal capacity and
I am authorized to enter into this Agreement. 7. I represent that no one except me (us)
has an interest in the account(s). 8. I warrant and represent that the
citizenship and residency status that I have indicated on my Account Application
is true and correct. I agree to notify in a writing signed by me of any change
in my citizenship and residency status within 30 days of such change, and such
notice will include all relevant new information regarding my citizenship and
residency. I release and agree to indemnify and hold harmless DMS from any loss
of expense, including attorneys' fees, if I have not provided accurate
information about my citizenship and residency status or if I fail, refuse or
neglect to provide the notice described within this paragraph. DMS is reasonably
justified in relying upon all information I have provided. 9. If DMS extends, updates or renews my
investments through my account(s), I agree that DMS may request
new Initial and Service fees without providing any further notice to me. 10. If more than one individual has
signed this Agreement, our obligations under this Agreement shall be joint and
several. Any joint account will be held jointly with rights of survivorship
unless I notify you and provide such documentation as you require. If there is
more than one account owner, each of us has the authority, acting alone, to take
any action with respect to the account(s), including, without limitation,
authority to (1) buy and sell other property in the account(s) and receive and
dispose of money in the account(s); (2) receive confirmations, statements and
communications relating to the account(s) ; and (3) generally deal with DMS as
if each of us alone was the sole owner of the account(s), all without notice to
the others. DMS may follow the instructions of any of us concerning the
account(s) and may deliver property in connection with account transaction to
any of us, or in accordance with the directions of any of us, except to
unrelated third parties, without notice to or inquiry to the rest of us. We
agree that notice to any of us shall be deemed to be notice to all of us. 11. If the individuals who sign this
Agreement are husband and wife and legal residents of a community or martial
property state, any purchase through DMS will be registered in our respective
names, as shown on the account, followed by the words "husband and wife as
community property" or "community property". 12. Any joint account owner, other than
in a joint tenancy with right of survivorship account, agrees that, upon the
death or disability of either party, the remaining undersigned shall immediately
prove written notice of such event to DMS. We understand that all transactions
thereafter affecting non-survivorship account(s) must be at the joint direction
and upon the joint signatures of a legal representative of the affected party
and the remaining undersigned. DMS shall not be liable for transfers, payments
or other transactions that occur in our account(s) prior to receipt of such
written notice. DMS shall be held harmless and free from any liability by reason
of its compliance with any notice or direction mentioned in this paragraph. 13. Any fiduciary (including, but not
limited to, a UGMA or UTMA custodian, a trustee, a conserver, a guardian, a
personal representative, an administrator, an executor, an attorney-in-fact, or
an investment adviser) to an account or for an account owner is responsible for:
(1) collecting, holding, managing,
investing and reinvesting account property; (2) dealing with the account under
the applicable "prudent person" or other standard of care; (3) keeping
account property separate and distinct from all other property; (4) keeping
records of all transactions with respect to such property; and (5) otherwise
performing his or her fiduciary duties. DMS may act on instructions from, or
otherwise deal with, any person purporting to act as a fiduciary to an account,
and are not responsible for determining the validity of such person's fiduciary
status or capacity, the property of or the authority for any act of or by such a
person, the validity or propriety under governing statutes or other law of any
instrument or instructions executed or given by such a person, or the propriety
of the application of any property of the person on whose behalf the fiduciary
purports to act. Additional documentation may be required by DMS to permit
fiduciaries on accounts. The account owner and fiduciary release and agree to
indemnify and hold harmless DMS for any loss to the account owner as result of
any act, error or omission of the account owner or fiduciary which causes or may
cause any loss, damage or harm to the account owner. 14. Regarding UTMA or UGMA accounts, any
instructions received from the minor or any dealing with the custodial property
in such accounts by the minor-including, but not limited to, using or attempting
to use a custodian's password to the account, taking delivery or attempting to
take delivery of assets of the account-shall be conclusively deemed to be the
actions of the custodian for which DMS shall not be held liable. The custodian,
the transferor and the minor release and agree to indemnify and hold harmless
DMS for any loss, cost, judgment, penalty, claim, action, damage, expense or
attorneys' fees which may result from any to the minor as a result of any act,
error or omission of the minor or custodian which causes or may cause any loss,
damage or harm to the minor. 15. I shall promptly notify DMS in
writing within 10 days if there is any material change in the facts set forth in
my Account Application, including any financial information. In particular, but
without limitation, I shall inform DMS in writing if I become a director, 10%
shareholder, or policy-making officer of a public traded company, or if I become
affiliated with or employed by any securities firm, bank or trust company. Account Policy 16. DMS will maintain adequate procedures
to ensure the confidentiality of all account information within its possession.
All my account numbers, personal identification numbers (PIN) and passwords are
confidential, and I agree to be fully responsible for my account and
identification numbers and for all activities under my account number, PIN, or
password. 17. DMS may justifiable rely that any
order or instructions received through any electronic systems and placed under
my account number, PIN, or password where placed or authorized me. I will
immediately notify DMS if any of the following occur: (1) the loss or theft of
my account number, PIN, or password; (2) or should I become aware of any
unauthorized use of my account number, PIN, or password. 18. Any telephone conversation with DMS
may be monitored and/or recorded upon at there option. 19. DMS shall send all mail to my address
(mailing address, electronic mail
address or facsimile number) as it appears on my account or at any other address
as I may direct. Any such communication sent by mail, e-mail, telegraph,
messenger or otherwise, will be considered personally delivered, whether or not
I actually receive it. 20. DMS prepares quarterly account
statements for all active accounts. Account statements will include all
financial transactions through the last Friday of the current month, or December
31. 21. Statements of accounts shall be
conclusive and binding upon me unless I submit a written objection within ten
days after DMS has sent the statement of account to me by mail or otherwise. 22. DMS shall not be liable for loss
caused directly or indirectly by any government restrictions, or any "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 cause beyond the reasonable control of
DMS. 23. DMS reserves the right at any time to
amend, change, revise, add, or modify the terms and conditions set forth in this
Agreement without prior notice to me. DMS will sent such amendments, changes or
modifications to me electronically or otherwise. My continued account
activity, after the amendments, changes or modifications to these terms
and conditions, constitutes my agreement to be bound by such amendments, changes
or modifications to these terms and conditions, regardless of whether I have
actually read them. DMS may justifiable rely upon such account activity as
evidence of the acceptance of any such
amendments, changes or modifications. DMS shall not be bound by any verbal
statement that seek to amend the terms and conditions set forth in this
Agreement. 24. This Agreement and its provisions
shall be continuous, cover individually and collectively all accounts which I
may open or reopen with DMS, and inure to the benefit of DMS. The Agreement
shall be binding upon me and my estate, executors, personal representatives,
administrators, successors and assigns. 25. I acknowledge that DMS is engaged in
the investment business at its principal place of business in Barahona,
Dominican Republic; and that I am transacting business in thee Country of
Dominican Republic. Any court action against DMS by me or on my behalf shall be
exclusively venued in the Country of Dominican Republic and shall be governed by
the law of the Country of Dominican Republic. I hereby submit to personal
jurisdiction within the Country of Dominican Republic. This paragraph does not
limit my ability to file any claim in arbitration nor does it limit or
contradict any rules of investment banking, such as those relating to the
location of an arbitration hearing. |
E-mail to: [email protected]
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