Provision of "eBroker' Service by "Emirates International Securities L.L.C." for execution of share trading transactions in approved Financial Markets in the UAE via the Internet is subject to the following Terms & Conditions:
In these Terms & Conditions:
• "Broker": means Emirates International Securities L.L.C. (EIS)
• "Bank": means Emirates Bank International (EBI)
• "E-Broker": means the online services provided by Emirates International Securities to carry out share trading transactions via the Internet.
• "Customer"or "User": means any natural or corporate person, or their authorized representative, who opens an account under his/her/their name with the Broker for share trading purposes and subscribes to "eBroker" Service.
• "Service":means “Ebroker” Service provided by the broker for execution of share trading transactions via the Internet.
Share trading transactions via the Internet shall only include those services the Broker shall determine, from time to time, in its sole discretion, to be covered by the Service. The Service does not constitute an offer for, or solicitation to, the Customer to subscribe to any of the investment services provided by the Broker.
The Customer hereby authorizes the Broker to accept and act upon electronic instructions submitted via the Internet and to respond to any Customer inquiries so received.
The Broker will charge the Customer the agreed fees (in consideration for subscription, availability and utilization of the Service) as the Broker may prescribe from time to time. The Broker reserves the right to revise the fees at anytime immediately after notification, and the Customer hereby authorizes the Broker to charge the revised fees to any of the Customer accounts held with the Bank.
The Broker reserves the right, in its sole discretion, to refuse to provide the Service to a Customer, and/or to refuse to act upon or respond to any Customer's instructions or queries received via the Internet without having to state the reason for such refusal.
The Customer acknowledges that any equipment made available by the Broker to the Customer is and shall remain the exclusive property of the Broker. The Customer agrees and undertakes to return such equipment to the Broker immediately on demand in their original "as received" condition.
The Customer authorizes the Broker to send Service related advices, notices and/or correspondence in the manner the Broker deems fit. The Customer shall be responsible for the confidentiality of all Broker generated Customer advices, notices and correspondence.
The Customer acknowledges that any software and associated technical documentation made available to it by the Broker is licensed to the Customer on a non-exclusive, non-transferable basis, only for the duration and for the sole purposes of the Service. The Customer further warrants that it shall not copy reproduce or amend any software, pages or documents provided by the Broker, and that it shall not download or divert the Service software from any computer or electronic device to any other computer or electronic device.
The Customer acknowledges and agrees that the Broker does not accept any liability for failure to execute an order within a specified time.
The Broker reserves the right, in its sole discretion, to refuse to execute any transaction, and shall not incur any liability to the Customer by reason of such refusal.
Any costs incurred towards Internet usage to logon to the Service shall be for the Customer's exclusive account.
. The Customer acknowledges and agrees that the Broker has advised it, and that the Customer has taken note, of the current technology restrictions and limitations, and of the limitations and restrictions of any approved Financial Market in the UAE Service utilization; and that the Service availability depends on technology applications and level of compliance with the restrictions on Service utilization. Accordingly the Broker shall not incur any liability to the Customer as a result of any interruption of the Service and/or the Customer's inability to use the Service, for any reason whatsoever.
TThe Customer further acknowledges and agrees that the Broker does not guarantee that the provision of the Service will be uninterrupted or error-free or that all errors will be corrected.
The Customer shall keep strictly confidential the Customer's unique USER ID and Password(s), and undertakes to never disclose such USER ID or password to any third party including employees of the Broker. Accordingly, the Broker does not accept liability for any claim or loss resulting from disclosure of the Customer's User ID or Password or transactions registered in the Customer's account that are not performed by the Customer. If the Customer suspects that any person has knowledge of the Customer's Password(s), the Customer must immediately notify the Broker by telephone, and confirm such notification in writing within 24 hours. The Customer will be solely responsible for all instructions and inquiries actually made or which may be made until the Broker receives written confirmation, and acknowledges receipt, of such notification.
The Customer recognizes that the Broker and/or the Bank are the rightful registered owners of the trademarks EIS, EBI, eBroker service and of such other trademarks of the Broker and/or the Bank, and that any right which may be created by the use of the Service and/or the Trademarks belongs exclusively to the Broker and/or the Bank, which shall solely and exclusively benefit from any and all goodwill arising from the use of the Service or the Trademarks by the Customer. For the purposes hereof, "Trademarks" shall mean the trade name and trademark EIS, EBI, eBroker service and any other trademark, trade name, sign, logo or other intellectual property right of the Broker and/or the Bank.
The Customer may, upon written notice to the Broker, terminate the subscription to the Service, such termination to become effective upon receipt by the Broker of the Customer's written notice. The Broker may, at any time, notify the Customer of the termination of the Service with immediate effect, without incurring any liability to the Customer on account of such termination.
The Broker does not accept liability for any losses, damages, costs or expenses whatsoever or howsoever incurred or sustained by the Customer as a result of breach of any of these terms and conditions.
The Broker does not accept liability for any errors, losses or damages resulting from delayed or failed instructions, including:
a.Insufficient balance in the Customer's bank account or account with the Broker to permit execution of the instructions; b.Insufficient instructions to execute a transaction; c.Failure to comply with the Broker's instructions or guidance, or in the event of unclear or incomplete Customer d.Delay or any technical fault of the Broker or any external agency with which the Broker does business; e.Disruptions to the Service caused by any reason beyond the Broker's control, or a Force Majeure event, including the unavailability of power supply, electricity, Internet connections, or any similar causes.
Failure or delay by the Broker to exercise any rights or remedy under these Terms & Conditions shall not operate as a waiver of such right or remedy, nor will any partial exercise of any right or remedy preclude any subsequent exercise of such right or remedy fully. Rights and remedies provided herein are supplementary and additional to any other rights or remedies provided under the applicable law.
Under no circumstances will the Broker or the Bank or employees of both these companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the Service, logon to the site or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even when the Broker and/or the Bank, or representatives thereof, are advised of the possibility of such damages, losses or expenses.
The Broker reserves the right to alter these Terms & Conditions at anytime, but will notify the Customer of any alternation in advance of the effective date. Continued utilization of the Service by the Customer constitutes acceptance and agreement of such alterations.
The customer acknowledges that the Broker may need to reject, suspend or leave pending an order in situations including, though not limited to, the system being unable to verify available funds in a customer's account or where a customer's order is in excess of a pre-determined threshold (where applied). In such instances, the customer agrees to indemnify and hold the Broker and/or the Bank and their respective directors, officers or employees free and harmless from or against all losses, damages, costs, claims, expenses (including legal expenses) incurred or suffered by reason of any act or omission of the Broker or such other person relating to the order or transaction.
The Customer further agrees to reimburse the Broker and/or the Bank any costs, expenses or other losses incurred by the Broker as a direct result of the Customer's non-compliance with these Terms & Conditions, or as a result of fraud, negligence or any failure on the part of the Customer and/or its authorized representatives.
The Customer shall indemnify and hold the Broker and/or the Bank harmless against any and all claims that may arise in connection with the improper use of the Trademarks by the Customer, or in a manner inconsistent with the purposes and effects of these Terms & Conditions.
These Terms & Conditions are supplementary to, and shall be governed by, any related terms, conditions and/or agreements executed by the Customer, present or in the future with the Broker or with the Bank.
These Terms & Conditions are subject to and shall be governed by the laws of the United Arab Emirates as applied in the Emirate of Dubai.