System Use and Management Service Agreement (English)
SPS Global PTE., LTD. (hereinafter referred to as 'A') and _________ (hereinafter referred to as 'B') agrees as follows.
Article 1 (Purpose)
The purpose of this contract is to provide guidelines necessary for the use and management of transaction assistance systems (S/W, H/W) for exchange rate arbitrage trading for various currency pairs and derivative financial products such as metals, oil and grains.
Article 2 (Revenue and Guarantee)
(1) 'A' does not promise principal guarantee or fixed income of the balance of the futures company account held by 'B'. Also, we do not guarantee future returns based on past returns.
(2) If 'B' has heard an explanation of the contents contrary to paragraph (1) from 'A''s related person or other member before the conclusion of this contract, 'A' must be notified of the fact before the conclusion of this contract.
I understand that no principal or fixed income is guaranteed through the use of this system and management of the service. (Handwritten entry)
Article 3 (Risk Warning and Disclaimer)
'B' recognizes the risk of trading derivatives described in Article 1 and applies for this contract and confirms that the applicant is responsible for any transaction loss.
Article 4 (Contract Period)
The contract period is from the date of transaction start after application for service until the request for early termination by one party reaches the other party. However, the liquidation method shall be governed by Article 5.
Article 5 (Premature Termination and Settlement)
After the transaction has commenced, it may be terminated in the middle upon request by either party. Both parties acknowledge that a loss may occur if the service is terminated while using the system, and the rules for liquidating and settling accounts are as follows.
(1) When 'B' applies for early termination
① For matters received in writing by the end of the month in which the application was made, the following procedures shall be followed.
a) When requesting equity liquidation
- Liquidation is carried out with the amount corresponding to the equity of the first trading day after the closing date.
b) When requesting balance liquidation
- Liquidation is carried out with the amount equivalent to the balance of the first trading day after the closing date.
- Both parties are aware that it is difficult to specify a liquidation date when liquidation is requested with an amount equivalent to margin in a highly liquid market environment.
- 'A' will complete the liquidation process as soon as possible based on the principle of good faith.
② The service usage fee is settled after deduction by the end of the month in which the cancellation application is received.
③ The margin of the account that has completed the liquidation procedure remains in the account and is managed by 'B'.
(2) When 'A' decides to terminate early
① 'A' may notify 'B' of the reason for the early termination, and after 7 days from the date 'B' received the notice, stop the service at any time and proceed with the account liquidation. In this case, the liquidation proceeds with the larger amount of 'B''s balance and equity.
② In the case of subparagraph ①, 'B' may express his/her intention not to close the account within 7 days from the date of receiving the notice of termination in the middle of the service. In this case, the account is managed by 'B'.
③ The service usage fee is deducted by the end of the month in which the service termination is notified.
Article 6 (Settlement and payment of service usage fees)
For the usage fee and management service cost of the system (server hosting, program, computer, etc. hardware and software) provided by 'A', 'A' deducts it from 'B''s account as follows based on the last day of service and ‘B' agrees to the automatic withdrawal.
(1) The service usage fee for one month is $220 per account ($5,000 Balance).
(2) If the rate of return for one month is less than the service fee, it is calculated based on percentage.
Article 7 (Foreign exchange loss, foreign exchange gains and fees, etc.)
(1) Exchange loss or exchange gain may occur due to the exchange rate at the time of account deposit or withdrawal.
(2) The fees charged for deposit and withdrawal are irrelevant to 'A' and are borne by 'B' according to the fee policy imposed by the service subject.
Article 8 (Supplier Relations)
(1) 'A' has a contractual relationship with a number of partners for smooth operation of this service, and there may be changes in contract details or changes in partners.
(2) Prior to or after the occurrence of the change in (1), 'A' notifies the contents of the change.
Article 9 (Work Regulations)
(1) For matters not specified in this contract, the terms and conditions of 'A' shall be followed.
(2) 'A' can set rules for the public interest of members using this service, and it takes effect with notice.
(3) 'B' understands and implements the Terms of Use and the rules of Paragraph (2).
Article 10 (Management of Personal Information)
'B' submits personal information and documents necessary for account transactions to 'A', and 'A' is entrusted with this to transact and manage 'B''s account, and does not use it for any purpose other than the purpose of this agreement .