The Terms and Conditions set below, which shall be amendable from time to time shall constitute a binding agreement based upon which the Investment Account of the Client shall be managed by GoldenBridge Asset Management Company.
Terms and Conditions
Account Opening and Mandate - the Client has authorized and GAMCL has agreed to open and maintain an Investment Account on behalf of the Client.
Governing Law of Agreement – These Terms and Conditions and every other accompanying documents shall be governed by and construed in accordance with the Laws of the Federal Republic of Nigeria. The Client’s mandate is also subject to the rules and regulations as prescribed in the Investment and Securities Act 2007 and any other rules and regulations that may be in force on the operations of the Capital Market Operators.
Anti – Money Laundering – the client agrees that all his/her transactions will be subject to all relevant Anti – Money Laundering Laws and Regulations.
Correspondence – Any communication from GAMCL to the Client shall be deemed to be validly delivered to the Client once it is sent to the latest address in GAMCL record for that purpose. To this effect, the client commits to inform the company via written updates of any change in address or any other client-supplied data. In the case of electronic communication, the client assumes full responsibility for the safe custody of all print and electronic correspondence and incase of any unauthorized access, to immediately notify the company. Where, such notification is not given within a reasonable period, to free the company of any liability whatsoever from relying on the sanctity of the client’s records.
Reliability of Instruments – The Client assures GAMCL of the genuineness and reliability of all endorsements by the Client, appearing on all cheques, Orders, Bills, Notes, Negotiable Instruments, Share Warrants, Receipts and other documents deposited for Investment and in the event of any defect, the Client pledges to accept full responsibility.
Indemnity for Third-Party Instruments - The Client agrees that in consideration of GAMCL issuing or accepting third-party Bank cheques, Bank drafts and/or other negotiable instruments from time to time, the Client hereby irrevocably undertakes to fully indemnify GAMCL against all losses, expenses, costs, damages or otherwise, that may occur as a result of the issuance or acceptance of the said third-party cheques, draft and/or negotiable instrument.
Account Statements – the Client will receive monthly statement of accounts and at any time on Client’s request. The Client will also receive Contract Notes/Investment Certificate for every transaction undertaken by the company on his/her behalf. The Client however undertakes to report to the company any error in the Contract Note/Investment Certificate issued within three business days of receipt. Where no objection is raised within the period stipulated above, the statement and contract note/investment certificate shall be deemed acceptable by the Account Holder.
Termination - It is agreed that GAMCL shall terminate the operation of the Account upon receipt of the client’s written instruction. Either the client or GAMCL may terminate the operation of the Account upon receipt of 72 hours prior written notice. Pre-mature termination instruction from the Client shall attract a penalty of not less than 5% of the interest element of the account as pre advised.
Account Liquidation and Transfers – The Client may request the liquidation or transfer, in full or in part, of any funds, securities or other assets comprised in or attributable to the Account, by giving 3 business Days Notice in writing to that effect to GAMCL.
Force Majeure – The company shall not be held liable for any embargo, loss or diminution of any Investment fund due directly or indirectly to forces such as governmental action, exchange control restrictions, insurrection, strikes, market ruling, or any other such condition beyond the company’s control.
Goldenbridge Asset Management Company Limited (GAMCL) Account Holders Specifically agree that in consideration for the services rendered to the client, the Company shall be entitled to charge a pre-advised fee/commission which shall be set-of on the client’s account and which are amendable from time to time, in writing (including e-mail). The Client agrees to pay the fees and commissions as advised accordingly.
Goldenbridge Asset Management Company Limited (GAMCL) Account Holders Specifically agree that the company will execute his/her mandates promptly except where there is delay beyond the Company’s control occasioned by system failure, Force Majeure or otherwise. The client agrees that the Company will not honour any mandate unless the Company is satisfied that the client’s account is sufficiently funded for such a transaction.
Goldenbridge Asset Management Company Limited (GAMCL) Account Holders Specifically agree that GAMCL will accept no liability whatsoever for cash handed to members of its staff, especially outside office hours. Instructions received outside the business hours of 9.30am – 3.30pm will be effected as soon as is reasonably practicable on the next business day. The client further agree that GAMCL will continually attempt to execute his/her mandate, however if after ten (10) working days of continuous attempts to fulfil the mandate to no avail, the mandate must be revalidated by the client unless otherwise specified by the client. Where the Company is unable to execute the Client’s mandate for no fault of the Company, the Company is under no obligation to put the funds into any interest bearing account.
Goldenbridge Asset Management Company Limited (GAMCL) Account Holders authorizes GAMCL to honour all written instructions issued on the account provided such orders are in line with the account Mandate. The Client however understands that GAMCL may delay or decline acting on any client instruction(s) where such instruction(s) is/are unclear or in violation of any law, regulation, code, order or contractual obligation binding on GAMCL or the Client. Where such instruction(s) are unclear, further clarification in writing will have to be received from the Client.
Goldenbridge Asset Management Company Limited (GAMCL) Account acknowledges that any disputes arising from or in connection with these Terms and Conditions, the Account, the Form, and any other related documents shall be determined by Arbitration and in such manner as prescribed by the Arbitration and Conciliation Act (Cap Laws of the Federation of Nigeria 2004) as that Act may be amended or replaced from time to time.
Goldenbridge Asset Management Company Limited (GAMCL) Account Holders specifically agree that I am/we are at least eighteen (18) years old. I/We understand that due to the volatility of the stock market, the prices of quoted securities including some Mutual Funds may fall and also rise and that past performances are not entirely indicative of future performances. I/We understand that Mutual Funds are more suited for medium to long term investment. Short term investors may not fully realize the value of their investments at liquidation or redemption.