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Public offer agreement Drake Chambers |
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Agreement
on trading operations procedures |
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1. Corsa
Capital Investments, Corp., herein after referred to as the “Company”
provides arbitrage transactions on foreign exchange market for individuals
and legal entities, hereinafter referred to as the “Client” in the form and
under conditions provided by the present agreement. 2. The Company and the Client understand that
mutual rights and liabilities limited by the present agreement are based on
exact and prompt implementation of the Client’s requests. The Company does
not advise the Client on any issues and is not capable of changing or affecting
these decisions regarding the rights on the Client within the limits of the
present agreement. 3. Full and unconditional compliance with
conditions of the present agreement means that the Client takes the following
actions: a) registers and opens account with the Company
via filling the form available on the internet at: https://corsacapital.org/account-open.aspx b) deposits money to
this account during 30 days starting the day when account was opened. 4. The place of conclusion of the agreement is
the place of incorporation of the Company. The Company legal address is: Drake Chambers, P.O. Box 3321, Road Town,
Tortola, British Virgin Islands The Company postal address is: Drake Chambers, P.O. Box 3321, Road Town,
Tortola, British Virgin Islands 5. Glossary. Base
currency – currency unit wherein
the Client’s account is nominated. All commissions, fees and payments are
calculated in base currency. Maturity
of the option – the time when quotes of
financial instrument are fixed in order to verify option terms completion. Active
option – the option that the
Client has bought and that has not yet reached the maturity date. Company – legal entity that provides conditions for
making transactions and all the necessary payments for the Client according
to the present Agreement. Client – individual of full age or properly
incorporated legal entity, that opens an account and makes arbitrage
transaction described in the paragraph 8. Completed
option – option that has
completed terms by maturity date. Uncompleted
option – option that does not
have completed terms by maturity date. Non-trade
operations – money deposit and
withdrawal from the account requested by the Client. Option – arbitrage transaction with fixed maturity
and prices for transaction completion that the Client makes via operations
with personal account in trading system. Sub
account – special personal
account used for internal records that displays mutual liabilities between
the Company and the Client that arise from the Client’s trade and non-trade
operations. Trading
system – a combination of means
of access to the Client’s account that allows making arbitrage transactions.
Trading system constitutes the Client’s personal page on the Company’s website. Trading
instruments – currency pairs and
other contracts that are available for making transactions. Trading
operations – arbitrage transactions
made according to the paragraph 6. Option
terms – sequence of events
that lead to option completion. The sequence and comparison of the events
required for option completion is determined by the Client according to the
paragraph 6. 6. Principles of arbitrage transactions with
financial instruments. 6.1. Those Clients who have an electronic access are
capable of making operations to purchase options available in trading system. 6.2. Option terms for every particular option are
effective until maturity date and can not be changed. 6.3. Results of option completion can be
reconsidered in favor of the Company or the Client if non-market quotes,
technical problems or other force majeure circumstances are observed. 6.4. The Client can not delete an active option if
such action is not foreseen by the option terms. 7. All transactions made using the Client’s
personal data (login, password) from his account are unconditionally
considered made by account owner. 8. Using personal account, the Client can make
arbitrage transactions via purchase of relevant options available in the
Clients’ section of the corporate web site. 9. Procedures required to open
an account. 9.1. The Client fills in the registration form
available at: https://corsacapital.org/account-open.aspx 9.2.
The Client deposits money to
his account within 30 calendar days starting the date when account was
opened. If no deposit was made by the end of the mentioned period the Company
reserves the right to close the Client’s account without prior notification. 9.4.
The Client can make arbitrage transactions right after deposit was
transferred to the account. 9.5. Base currency is USD. 10.
Rights and
responsibilities of the Client and the Company. 10.1.
The Client is aware and
agrees that the Company is not responsible for the Client’s actions or
failure to act in making arbitrage transactions from his personal account. 10.2.
The Client bears personal responsibility for his trading account and
confirms that the following statement is effective for all period of
relationship between the Client and the Company, provided by the present
agreement. 10.3.
The Company is not
responsible for the Client’s money transfers that do not reach the Company’s
account. 10.4.
The Company reserves the
right to change or modify the present agreement, with prior notification of
the Client 5 days in advance before changes become effective via means of
communication according to the paragraph 11. 10.5. The present rights of the Company are long
lasting subject that entirely remains in force and will be effective until
receipt of written notification of agreement cancellation and account closing
submitted by the Client. 10.6. In case of disputes regarding account
balance, the parties consider notes on account operations printed out from
the data available from the Company database. 10.7. The Client is aware of the fact that any
market recommendations or other information regarding arbitrage transactions
with financial instruments, provided to the Client by the Company or
representatives of the Company, have exceptionally informational purpose and
by no means indicate required action to make transactions. 10.9.
The Client guarantees
that: - he is of sound mind, is not under distress
or restrain, full age and financially sound; - he is capable of working on financial
markets and has the necessary qualification; - all personal information provided to the Company
is full, correct and valid; all changes in this data should be submitted to
the Company immediately; - accounts (bank accounts or special accounts
provided by electronic payment systems) that the Client uses for payments
belong to him, and money on these accounts have legal origin. 10.10. In case of death of one or several owners of
the account, the Company should get a written notification with attached copy
of certificate of death. 11. Means of communication. 11.1. Main means of
communication are: a)
news page available at: https://corsacapital.org/gen-news.aspx b)
e-mail address, indicated
when opening an account; c)
phone number, indicated
when opening an account; 11.2.
Any notification sent via
means of communication indicated in paragraph 11.1.à and 11.1.b, is considered received
by the Client at the end of 1 day after notification was sent. 12. Risk exposure
notification 12.1. Risk of trading on foreign exchange market
may be rather big and may cause considerable financial losses. When the Client
opens an account with Corsa capital he acknowledges the risks and bears
personal responsibility of risk monitoring and minimization. 12.2. The Client understands all risks that may
occur due to incorrect software operation, problems with hardware that the Company
owns when it is impossible to restore the latter, as well as other
consequences of wrong software set up (internet browser, fire wall) that the Client
might have. 12.3. The Company is not responsible for losses
caused by direct or indirect limitations set by the state, foreign exchange
or market regulations, trading stops, military actions or other events out of
control of the Company. 12.4. Remote access trading can differ from trading
on interbank market, as well as from trading via other trading systems. If
the Client uses electronic trading system, he is exposed to risks connected
with electronic trading system operation, including potential problems with
software. 12.5. In case of errors in quoting, the Company
reserves the right to make the necessary adjustments and settle disputes when
the error occurs. 12.6. This risk exposure notification does not
cover all possible risks of conversion arbitrage transactions on financial
markets. 13. Procedures for consideration of claims and
disputes. 13.1. Parties try to settle all disputes via
negotiations, providing the necessary basis for making claims. 13.2. All issues related to making quotes of
financial instruments are the sole right of the Company; all references that
the Client makes to the other trading and information systems are not
relevant. 13.3. All claims that follow from the present
agreement are accepted by the Company only in writing no later than 3
calendar days from the day when dispute arose. 13.4. The time to consider the claim of the
Client’s does not exceed 10 working days. |
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Corsa
Capital Investments, Corp. |
08.10.2007 |