Authorised Financial Service Provider FSP 45262 011-315-1000 hello@quicktrade.co.za

NON DISCRETIONARY FSP MANDATE

made and entered into by and between QuickTrade (Pty) Ltd (hereinafter referred to as the FSP) and the client (in terms of subsection 5.1 of the Code of Conduct for Discretionary FSP’s)

  1. INTRODUCTION

1.1 The FSP warrants that it is the holder of a Category I FSP License and is authorised to render intermediary services of a non-discretionary nature in respect of investment products residing under the financial product subcategories indicated in hereunder.

– Category 1, Subcategory 1.8 Securities and Instruments: Shares.

– Category 1, Subcategory 1.11 Securities and Warrants, certificates and other instruments.

– Category 1, Subcategory 1.13 Securities and Instruments: Derivative instruments excluding warrants.

1.2 Prior to entering into this Mandate the Client provided the FSP, which obtained from it, information with regards to the Client’s financial circumstances, needs and objectives and such other information necessary to enable the FSP to render suitable intermediary services to the Client in terms hereof.

  1. RISK DISCLOSURE

2.1 The Client’s risk profile is determined considering the Client’s current set of information and circumstances and the Client acknowledges that these circumstances and information may change over time.

2.2 The Client warrants the on-going accuracy and correctness of the Client’s investment objectives, and any other information that has been provided to the FSP in order to conclude this Mandate.

2.3 The Client acknowledges that there is a risk associated with investing in the financial products involved. The value of the investments and income may rise as well as fall, and there is a risk that the Client may suffer financial losses.

2.4 The Client acknowledges that it has been made aware by the FSP of risks pertaining to the investments which may result in financial loss to it and acknowledges that it accepts such risks and the FSP or its staff will not be liable or responsible for any financial losses.

2.5 The Client hereby irrevocably indemnifies the FSP and holds it harmless against all and any claims of whatsoever nature that might be made against it howsoever arising but not limited to any loss or damage which might be suffered by the Client in consequence of any depreciation in the value of the investments from whatsoever cause arising.

2.6 When investing in foreign investment products it is important to be aware of the following risks:

2.6.1 Obtaining access to investment performance information may be more difficult than South African based investments;

2.6.2 Investments are exposed to different tax regimes which may change without warning and which may influence investment returns;

2.6.3 Exchange control measures may change in the country of investment and it may influence accessibility to the invested capital;

2.6.4 The value of the Rand has deteriorated over the last number of years. However, it is important to understand that should the Rand exchange rate strengthen against the exchange rate of the foreign currencies in which the Client’s funds are invested, it may create a loss of capital or reduced returns when the money is returned to South Africa in Rand.

  1. REGISTRATION

    OF INVESTMENTS

3.1 All investments managed by the FSP in terms of this Mandate shall, at the FSP’s election, be registered from time to time in the name of:

3.1.1 The Client, or,

3.1.2 A Nominee company as the custodian thereof for the benefit of the Client, or

3.1.3 A Nominee company of a member of the relevant stock or securities exchange, or

3.1.4 In the case of a discretionary LISP, the independent custodian

3.2 The Client warrants and undertakes that all investments entrusted and/or delivered by it, or under its authority, to the FSP in terms of or for the purposes of this Mandate, are not and will not be subject to any lien, charge or other encumbrance or impediment to transfer and that the same shall remain free to any such lien, charge, encumbrance or impediment whilst subject to the FSP’s authority pursuant to this Mandate.

  1. TREATMENT OF FUNDS

4.1 The FSP shall forthwith deposit all funds received from the Client for the purpose of managing the investments as defined in the Mandate, directly into the bank account of the investment company or their nominee company where such funds are to be placed for the future management of the investment.

4.2 The FSP shall, forthwith on receipt thereof, deposit all cash moneys, including interest, dividends, proceeds of disposal and cash received in connection with the investments which are to be paid out to the Client into the Client’s nominated bank account as they accrue and fall due. The nominated bank account having been completed overleaf on the Online Application Form.

  1. DECLARATION REGARDING FUNDS & INVESTMENTS

5.1 The Client warrants, declares and undertakes that all investments entrusted and/or delivered by it, or under its authority, to the FSP in terms or for the purposes of this Mandate are derived from legitimate sources and do not constitute the “proceeds of unlawful activities” either as defined in the Prevention of Organised Crime Act No. 121 of 1998, as amended , or at all.

5.2 The Client further warrants that, where required, all funds entrusted to the FSP in terms or for the purpose of this Mandate are duly declared in terms of the Income Tax Act of 1962 and that the Client has obtained all necessary approvals from the South African Reserve Bank for foreign funds, assets or investments owned by the Client.

  1. REPORTING

6.1 The FSP may furnish the Client with electronic reports provided that the Client can access the reports.

6.2 The reports shall contain such information as is reasonably necessary to enable the Client to:

6.2.1 Produce a set of financial statements;

6.2.2 Determine the composition of the financial products comprising the investments and any changes therein over the period to which such report relates;

6.2.3 Determine the market value of such financial products and any changes therein during the period to which such report relates.

6.2.4 The FSP shall, on request in a comprehensible and timely manner, provide to the Client any reasonable information regarding the investments, market practices and the risks inherent in the different markets and products.

  1. REMUNERATION

7.1 In consideration for the management by the FSP of the investments, the Client shall make payment to the FSP by an initial administration fee of 0% based on the market value of the portfolio of the Client at the outset, payable upfront and an annual management fee of 0% based on the market value of the portfolio of the Client. Such management fee will be calculated on the market value of the portfolio at the end of each month.

7.2 The FSP will not receive the following commission / incentives, fee reductions or rebates from a LISP, collective investment scheme for placing the Client’s funds with them: 0%.

7.3 In the event of the FSP being remunerated by the Life Assurance or Investment Companies, this fact will be disclosed to the Client and the parties may elect to negotiate a different fee structure.

  1. DISPUTES

8.1 If any dispute or difference arises as to the validity, interpretation, effect or rights and obligations of either party under this Mandate, either party shall have the right to require that such dispute or difference be referred for a decision to arbitration before a single arbitrator.

8.2 The arbitration shall be held in an informal manner at [________________] and the identity of the arbitrator shall be mutually agreed upon between the parties within a period of 5 (five) days from the date that the arbitration is called for or, failing such mutual agreement within 5 (five) days, as nominated by the Chairman for the time being of the [________________] Bar Council or the President of the [________________] Law Society (or its successor). The arbitrator shall be an attorney or advocate of 10 (ten) years’ standing or more with experience and knowledge of insurance law and with no interest in the proceedings.

8.3 The parties agree to keep the arbitration, its subject matter and evidence heard during the arbitration confidential and not to disclose it to any other person.

8.4 The decision of the arbitrator shall be final and binding upon the parties and not subject to appeal.

8.5 The arbitrator shall include in his award an order as to the costs of the arbitration and who shall bear them.

8.6 The arbitrator shall at his sole discretion decide on the formulation of the dispute for arbitration but shall at all times be guided by the requirements of the Financial Advisory and Intermediary Services Act 2002 and all applicable ancillary legislation.

8.7 The inclusion of this arbitration clause shall not prevent a party from applying to court for urgent relief in the appropriate circumstances.

8.8 The parties agree that all the terms of this Mandate are material.

  1. TERMINATION OF MANDATE

9.1 The FSP or the Client shall be entitled to terminate this Mandate by furnishing, the one to the other, not less than fourteen (14) calendar days written notice of such termination.

9.2 The FSP shall not initiate any market transactions in respect of any investments on behalf of the Client after receipt of notice of termination by the Client of this Mandate unless specifically instructed otherwise by the Client.

9.3 Upon receipt from the Client of any such notice of termination of this Mandate, all outstanding fees owing to the FSP in terms of or arising from the Mandate shall forthwith thereupon be and become due, owing and payable. In this regard the Client irrevocably authorises and empowers the FSP to deduct such fees either from the cash standing to the credit of the investments portfolio or from the sale of any securities or financial instruments forming part of the investments if such cash balance is insufficient to enable payment of such fees to be made.

9.4 Notwithstanding any other provision in this Mandate, the FSP’s appointment shall immediately cease without prejudice to the rights and obligations of the FSP and the Client if its status as an authorised financial services provider is finally withdrawn in terms of the FAIS Act or any other provision of applicable legislation.

  1. ADMINISTRATIVE ARRANGEMENTS

10.1 Any amendment of any provision of this mandate shall be in writing and shall be by means of a supplementary or new agreement between the FSP and the Client.

10.2 The FSP may make use of the services of its staff and/or that of another authorised financial services provider to execute certain administrative functions in the course of rendering intermediary services to the Client.

10.3 The parties choose as their respective domicilium citandi et executandi: The FSP at: Woodmead Estate Office Park, 1 Woodmead Drive, Woodmead. The FSP’s e-mail address and facsimile number: Email: support@quicktrade.co.za. The Client at the physical address and email stipulated overleaf on the Online Application Form.

SUMMARY FEE SCHEDULE

Terminal Fee: R95.00 Charged on the 15th of every month

Withdrawal Fee: R20, pay and clear R85.

Minimum Deposit : Onshore Account: ZAR 5000.00, Offshore Account: $500.00.

SA INSTRUMENTS :

SAFEX ** : ALSI : Onshore Account ZAR 25.00 per contract , Margin Requirement 6-8%. ALMI: Onshore Account ZAR 15.00 per contract , Margin Requirement 6-8%.

SA Equity CFD’s *** : Onshore Account 0.57% (Minimum R30.00 per Trade), Margin Requirement 5-25%.

INTERNATIONAL INSTRUMENTS :

International Equity CFD’s : N. America Onshore/Offshore Account ZAR 0.04 per share, Margin Requirement from 5%. UK/Europe Onshore/Offshore Account 0.10-0.45%, Margin Requirement from 5%. Australasia Onshore/Offshore Account 0.10-0.30%, Margin Requirement from 5%.

Index CFD’s Onshore/Offshore Accounts Commission, Margin Requirement from 1%. Commodity CFD’s Onshore/Offshore Account Commission Free, Margin Requirement from 1-3%. Margin FX Onshore/Offshore Accounts Commission Free, Margin Requirement 1%.

Financing International Instruments Onshore/Offshore Account 3.5% (long and short positions) . Financing SA Instruments Safey +/- 3% pa . (* Excludes Strate and FSP Levy, excludes STT and VAT, ** Includes VAT, Clearing and Settlement, *** Includes Strate and FSP Levy.)

SCHEDULE LIMITED DISCRETION I hereby restrict the FSP’s discretion in the management on my behalf. The FSP’s right to purchase and sell investments on my behalf may only be exercised by the FSP: On my instruction and prior consent All cash accurals received in respect of investments including interest and dividends shall be: Paid into the Clients trading account

* Risk preference is determined considering the current set of information and circumstances of the Client but may change over time

Please visit https://sacoronavirus.co.za for more information regarding the Coronavirus in South Africa.
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