Mashreq Securities

Account Opening Form

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Application Date:

Do you have Market Investor No?

Yes

DFM Investor No.:

Yes

ADX Investor No.:

Yes

Investor Type:

Individual

Company

Guardian

Account Type:

Individual

Company

Joint Account

Authorized

Affiliations

Subscribe to Mashreq Securities Online Trading:

Yes

Already Mashreq Securities Client :

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INDIVIDUAL DETAILS


Name(As on passport) *:

Occupation/Position*:

Employer & Business Address*:

Passport No.* :		Driving License No.:
Marital Status* :		Date of Birth* :

Nationality *:

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Full Address


Physical Address *:

Country *:

City *:		P. O. Box *:

Mobile *:		Fax:

Res Telephone *:		Office Tel *:

Email Id *:

Trade Confirmation Preference *:

P O Box

SMS

FAX

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Settlement account Details

Mashreq Account No. *:

Please print, fill in and sign the following applications.

No Objection Letter-1

No Objection Letter-2

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Financial Worth & Investment Goals


Previous Investment Experience *:	None Bonds Stocks	Mutual Funds Savings Acnts & Term Deposits
	Others
Expected duration of securities trading *:
Monthly Income :
Statement which appropriately describes your risk appetite and investment return:

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FINANCIAL LIABILITIES DETAILS

Do you have Financial Liabilities?

Loans /finances/ Mortgage*	Name of Lender*	Amount*	Currency*






To add more liabilities, please attach a signed separate sheet to the application form

DECLARATION
I (we) the undersigned do hereby apply to open an account with your firm and acknowledge that all the information provided in this application and the entire document thereto are legitimate, accurate and correct. I (we) undertake to abide by the rules and regulations as set by the Emirates Securities & Commodities Authority, and authorize the above mentioned brokerage firm to sell and buy any securities traded in the market. I (we) request with my (our) request, and such acknowledgment and undertaking shall be irrevocable and unchallengeable by me (us) or any other agency. I (we) the undersigned do hereby acknowledge that the prices of securities do change and fluctuate, and any securities value and price may go upward or downward movements, and may even become of no value. There is a risk that losses may be incurred rather than profits gained as a result of buying and selling securities. I (we) do hereby grant the above mentioned brokerage firm the right to take all the actions or procedures it deems appropriate in accordance with the Rules and Regulations of the Emirates Securities & Commodities Authority, including sale of my (our) securities relating to all my (our) accounts with them if I (we) fail to settle my (our) financial obligations, and shall undertake to pay all commissions, fees, fines and any difference in securities prices resulting from there from. I (we) do hereby also authorize and my (our) irrevocable consent to the brokerage firm recording and archiving all telephone and verbal orders, requests and conversations made by me/us in respect of the sale or purchase of securities traded in the above mentioned markets. I (we) have received, read and understood the client agreement letter and in witness hereof I (we) have signed. I (we) acknowledge and understand that the risk profile herein above has been provided to me for informational purposes pursuant to the rules of Abu Dhabi Securities Exchange so that I may evaluate my risk profile. This risk profile shall not govern or in any way affect any of the services offered by Mashreq Securities nor constitute any representation by Mashreq Securities that the rate of return on securities held by Mashreq Securities shall match my risk profile and investment objectives. I shall obtain independent financial advice in order to determine whether my investment decisions are consistent with my investment objectives, financial resources and risk appetite. I fully understand and acknowledge the risks associated with this decision. I (we), the undersigned do hereby acknowledge that the price of securities can and does fluctuate and any individual security may experience upward or downward movements and even become of no value. I (we) further acknowledge that there is an inherent risk that losses may be incurred rather than profit as a result of buying and selling securities and securities purchased may become illiquid. I (We) also understand that (i) investments should be made in light of careful analysis and only to the extent an investor can reasonably afford, (ii) the Customer must assure himself of his Broker’s honesty and competence otherwise the Customer risks his investment being made inappropriately or even that they may be misappropriated and he may not get back the full amount originally invested.
I hereby confirm that I have read, understood, and agree to the above mentioned Declaration. Open Declaration

BROKERAGE SERVICES AGREEMENT
Brokerage Services Agreement This Brokerage Services Agreement (the “Agreement”) is entered by and between: Mashreq Securities L.L.C., P.O. Box 1250, Dubai, United Arab Emirates (UAE), a company duly organized and existing under the laws of U.A.E. (hereinafter referred to as the “Broker”) and the Customer whose details are provided in the Account Opening Form (“Customer”). (each a “Party” and together as the “Parties”) In consideration of mutual understanding and covenants as set forth in this Agreement, the parties hereto have agreed to the following terms and conditions: 1. Definitions 1.1 In this Agreement, unless the context otherwise requires: (a) “ADX” means Abu Dhabi Exchange; (b) “Assets” means present and future properties, securities, financial securities, monies, revenues and rights of every description; (c) “Authority” means the Securities and Commodities Authority, established under the Authority Law, in particular and any other relevant authority of the markets, in which the Broker is licensed and/or eligible to trade; (d) “Authority Law” means Federal Law No 4 of 2000 relating to the UAE Securities and Commodities Exchange and Authority in particular and any other applicable law governed by the relevant authority(ies) under the jurisdiction(s) in which the Broker is licensed and/or eligible to trade; (e) “Brokerage Services” means, the act of executing sale or purchase orders received by the broker from clients; as prescribed by the rules and regulations of the relevant Authority and Market(s); (f) “Customer” or “Investor” means the person in respect of whom the Broker carries out brokerage services and whose name, details and Investor Number are set out on the account opening application form enclosed with this Agreement; (g) “DFM” means Dubai Financial Market; (h) “Financial Securities” means, shares, currencies, financial securities, derivatives, bonds of shareholding companies established or to be established in the UAE and other jurisdictions and/or bonds issued by public, financial market, federal and local government organizations in the UAE and other jurisdictions wherein the Broker is authorized and/or eligible to trade and deal; (i) “Indemnified Parties” means, the Broker, its associates, affiliates, successors, transferees, assigns, directors, officers, agents and employees; (j) “Instruction” means, any orders or directions received by the Broker by hand, telephone or through any electronic means of communication acceptable to the Broker, which the Broker believes in good faith to have been given by the Customer or his/her authorized person(s) pursuant to the terms and conditions which the Broker may specify; (k) “Investor Number” means a unique identification number allocated to the Customer by ADX, DFM or any other market(s), as a pre-condition for trading of Securities by the Customer in the relevant Market(s); (l) “Losses” means and shall include claims, losses, liabilities, penalties, damages, demands, costs (including costs of enforcing the terms and conditions of this Agreement and/or any rights or remedies hereunder), fees (including reasonable legal fees and expenses), expenses, charges, actions, proceedings, disbursements, judgments, etc. (m) “Market” means the market for buying and selling of securities operated by ADX, DFM or any other market in any jurisdiction, recognized by the relevant authorities, within which the Broker is authorized and/or eligible to trade or deal; (n) “Rules” means rules of the market operated by ADX and DFM as prescribed by its Boards from time to time, in particular, and the rules and regulations prescribed by other relevant apex as well as front-line regulatory authorities, applicable to the Broker; (o) “System” means the computerized trading system for the Market utilized by ADX and DFM in particular and other eligible markets within the jurisdiction(s) relevant to the Broker, if in direct use of the Broker; (p) “Trading Account” means the Securities trading account within the System held with the Broker. 1.2 Interpretation Clause Unless otherwise stated, the following shall apply: (a) “Person” may, depending upon the context, include an individual, any form of corporate or business association in any state or form of governmental or official body, whether having a distinct legal entity or not. (b) The clause headings and subheadings are used in this Agreement only to make it easier to read. They are not intended to affect its meaning. (c) The schedules and cover page(s) shall form part of this Agreement. (d) Single shall include plural and vice versa. (e) References to the masculine shall include where appropriate references to the feminine and vice versa. (f) References to any statute, regulation or statutory instrument shall be deemed to be references to that statute, regulation or statutory instrument as from time to time amended or re-enacted or as the context permits substituted therefor from time to time. (g) The words “written” or “in writing” include facsimile reproductions or any other means of communication resulting in permanent visible reproduction. (h) Unless stated otherwise references to monetary amounts are to United Arab Emirate currency. 2. Broker Warranties 2.1 The Broker warrants to the Customer that it holds the following valid and subsisting licenses and registrations where applicable and necessary: (1) Broker’s Access License issued by the relevant Market(s) pursuant to its governing laws; (2) Registration in the Register of Brokers maintained by the relevant Market(s); (3) Broking license issued by the Authority and the Broker is in full compliance with the terms of the above. 2.2 The Broker undertakes to apply to the relevant Authority for a Broking License and for registration of the Register of Brokers maintained by such Authority when requested to do so by the relevant Market(s) and to fulfill all the other applicable regulatory and procedural requirements for its eligibility to trade and deal in other Market(s), as and when required. 3. Nature of Services 3.1 The Broker shall provide full brokerage services to the Customer including administration of their trading account opened with the Broker for trading and dealing in Financial Securities. 3.2 The Broker may hold any Financial Securities and funds on behalf of the Customer subject to applicable laws and procedure, pertaining to the provision of such services. 3.3 All such services shall be provided to the Customer by the Broker, subject to fulfillment of all regulatory and procedural requirements by the Customer, in a manner as prescribed by the Broker and as deemed necessary by it to protect the interests of both the Parties. Fulfillment of such requirements shall include return of the duly signed account opening form, customer agreement along with the requisite documents attached thereto, deposit of requisite funds in the Broker’s account(s) and return of the signed indemnity to the Broker. 4. Customer’s General Rights and Obligations 4.1 The Customer hereby warrants that it holds a valid Investor Number as set out on the Account Opening application form. 4.2 The Customer shall not be entitled to open more than one Trading Account with the Broker. 4.3 The Customer shall deliver to the Broker a duly signed power of attorney in the form prescribed by the relevant Market from time to time in favour of the Market or such other persons as the Market may prescribe from time to time under which it authorizes such persons to execute share transfer forms on its behalf. 4.4 The Customer acknowledges that Services from the Broker shall be available to him, only subject to compliance with requirements as prescribed in sub-clause 3.3 above. 4.5 The Customer acknowledges that once a Buy or Sell Order placed by the Broker on behalf of the Customer is executed on the System, the Customer shall thereby enter into a legally binding and Page 4 of 12 enforceable, unconditional contract in respect of that transaction. The Customer shall do all things and execute all documents required to give effect to that contract and the underlying transaction. 4.6 The Customer authorizes the Broker to disclose any information concerning the Customer and its transactions to the Authority(ies) concerned and any Market(s) on which the Broker is authorized to trade on behalf of the Customer, as per their request. 5. Instructions: 5.1 The Customer undertakes to provide names and specimen signatures of persons authorized to give and/or sign instructions on his behalf (“Authorized Persons”) and shall keep the Broker updated in this regard. The Broker is entitled to rely on the latest list of Authorized Persons on record, as provided by the Customer. Subject to the Risk Disclosure statement contained herein, the Customer may issue instructions to the Broker in writing, fax, e-mail, verbally over the telephone, through electronic instructions acceptable to the Broker or in person to or at the address or number set out on the cover page of this Agreement or such other address, numbers or electronic mode as the Broker shall specify for the purpose by written notice to the Customer. Instructions for the purposes of this Agreement shall be deemed to have been received upon receipt by the Broker during regular Market hours on a normal business day. 5.2 All instructions from the Customer shall specify (1) No. of securities to be bought or sold, (2) details of securities to be bought or sold, (3) buying/selling price, (4) duration/time period for validity of the instructions. 5.3 The Broker shall, subject to compliance with the Rules and the applicable law, use its best endeavors to comply with the instructions of its Customer to buy or sell Securities which appear to the Broker to be lawful and not in breach of the constitutional documents of any Listed Company as soon as possible, during the trading hours of the Market. 5.4 Any instructions delivered to the Broker in a prescribed format, may thereafter be confirmed from the Brokerage firm. 5.5 The Broker shall be entitled to treat all dealing instructions which he reasonably believes to have been received from the Customer, as genuine and duly authorized, without further investigation or enquiry as to the identity of the person giving or purporting to give such instructions. The Customer acknowledges that the Broker, its officials, assigns or employees would not be held liable for acting on any such instructions in good faith. 5.6 The Customer shall supply the Broker with all information which the Broker may require in order to verify the identity of the Customer or the validity of his/her instructions. 5.7 The Customer shall have no right to give any instruction to trade if the Financial Securities are not fully owned by them and are negotiable. 5.8 The Market(s) and/or the Broker are hereby duly authorized by the Customer to record all telephone conversations and/or instructions by the Customer in any form, either electronically, by writing or by any other method. Such record maintained by the Broker shall be conclusive and binding on the Customer. 5.9 The Broker, without any liability on its part, shall be entitled at its absolute discretion to refuse to comply with any instructions in which its opinion are, without limitation, unclear or ambiguous, Page 5 of 12 impracticable or in conflict with other instructions received or which would or might cause the Broker to contravene any law or regulation. All instructions shall continue in full force and effect unless cancelled or superseded with reasonable notice prior to execution in manner which is acceptable to the Broker. 5.10 It shall be the sole responsibility of the Customer to review and bring any discrepancies in execution of instructions to the attention of the Broker, within one business day of execution, after which the instructions and trade execution will be conclusive and binding and the Broker shall not be liable for any discrepancies in connection thereof. 5.11 Notwithstanding any other remedy or indemnity, of whatsoever nature, which may now or hereafter be available to the Broker, the Customer hereby undertakes to fully protect, defend, indemnify and hold harmless, the Broker and the Indemnified Parties from and against any and all losses of any kind or nature, in whatsoever matter, arising directly or indirectly out of anything done or omitted pursuant to any instructions given or arising out of or in connection with this Agreement directly or indirectly. 6. Trade Execution, Settlement and Custody 6.1 The Customer shall not request the Broker to sell any Securities on the Market unless the Customer has been notified by the Broker that the Securities are available in the System for delivery on the settlement due date. 6.2 The Customer shall not issue any instruction to the Broker in respect of any Securities which would if carried out or executed and settled be contrary to the provisions of the memorandum and articles of the issuer of those Securities or the law. The Customer hereby indemnifies the Broker in respect of any claims, damages or losses suffered by the Broker arising out of a breach of this clause. 6.3 The Customer shall not be entitled to receive the proceeds of any trade undertaken by the Broker on his/her instructions until such trade has been executed and settled in the System. 6.4 The Broker shall hold all funds of the Customer in a bank account segregated from the Broker’s own bank accounts (“Customer Account”) and no Broker funds shall be deposited in such account. 6.5 The Customer agrees that any share or other certificates shall be held by the relevant Market on behalf of the Customer unless there is a reasonable need for the Customer to hold the certificate in order to undertake a transaction relating to the Security. If such a need arises and the Customer wishes to receive a share or other certificate in relation to any Securities lodged in its Trading Account with the Broker, it shall follow the procedures prescribed by the relevant Markets, from time to time including paying to the Broker such fees as may be prescribed by the Markets or the relevant Authority(ies). 6.6 In the event that the Customer is not entitled to have Securities, the subject of an executed buy order registered in its name, the Customer acknowledges that the relevant Market may sell such Securities on behalf of the Customer and the Customer hereby indemnifies the Broker for any loss suffered by it in respect of such sale. Any profits arising after deduction of expenses, fees and purchase price shall be paid to such Market. 7. Trade Confirmation 7.1 The Broker shall issue to the Customer a written confirmation of every instruction executed on the day of execution. Issuance of such confirmations by the broker shall be made on Customers’ request made Page 6 of 12 in any of the following manners, subject to the applicable terms and conditions or as prescribed by the Broker from time to time: (a) Confirmation through Fax – All clients have this facility to get registered for fax confirmations, which are delivered to the clients on daily basis. (b) Confirmations through SMS – All clients have this facility to get registered for receiving trade confirmations. This facility is provided to the clients on a real time basis, i.e. the confirmation SMS is sent to the client as soon as the trades are executed. (c) Confirmation Access through E-Trade – All clients have access to the E-Trade Facility, whereby, the clients can logon to their online account status sheet electronically and can view their account status at any time. (d) Call Centre Information – All clients have access to this facility, whereby, they can obtain trade confirmations and any other account related information from Broker’s Call Centre over the telephone. 7.2 The Customer shall be responsible for immediately informing the Broker: (A) If he has not received confirmation from the Broker that the Broker has received its instructions to sell or buy and/or carried them out within 48 hours of placing them; (B) If the Customer receives confirmation of a trade which it did not place or which took place other than in accordance with his instruction. 8. Default of Payment by the Customer 8.1 If the Customer defaults in the payment to the Market(s) of any amount owing by the Customer to the Broker in relation to an executed trade of Securities, the Broker shall, with the consent of the relevant Market, be entitled to sell the Securities which were the subject of such trade. The proceeds of such sale shall be offset against the debt owing by the Customer to the Broker and the Broker shall account to the Customer for the balance of the proceeds of sale within 5 days after the Broker received such proceeds. The Customer shall have no rights against the Broker in respect of any loss incurred by it as a result of the sale. Any profits arising after deducting expenses, fees and the purchase price shall be paid to the relevant Market, if applicable. 9. Reference Check 9.1 The Broker reserves the right to check the balance in the Customer’s Account at any time before executing instructions given by the Customer unless the Customer has put the Broker in sufficient funds to undertake the transaction. 9.2 Following any check carried out under the provisions of the sub-clause above, the Broker reserves the right to refuse to execute the instruction and/or to impose a dealing limit in relation to instructions received from the Customer as it deems fit. 9.3 The Customer also agrees that the Broker may obtain non-public information about him during the course of carrying out its obligations hereunder. This may include without limitation, information on his credit rating, financial goals, assets and liabilities as part of its “Know Your Customer” procedures. 10. Amounts Due 10.1 The Customers hereby undertake to pay all the applicable fees, as determined by the Broker at its sole discretion. The Broker expressly reserves the right to make any change therein on providing written notice to the Customer of the changes made therein. 10.2 The Customer hereby undertakes that he/she shall pay or reimburse to the Broker all costs, fees, charges, commissions, expenses or any and all amounts due from the Customer to the Broker, including any or all the losses of any kind or nature whatsoever, arising out of or in connection with this Agreement. 11. Payments 11.1 Subject to the following clauses, the Customer shall ensure that sufficient funds are been put in with the Broker to effect an execution prior to an instruction being placed. 11.2 Customer’s funds shall be held in a bank account segregated from Bank accounts of the Broker, subject to the settlement of any outstanding commitments in accordance with the other relevant clauses as contained in this Agreement. 11.3 Notwithstanding clause 14.1 above, the Broker shall have discretion to accept instructions from the Customer either where it has been put in partial funds or where the Customer has failed to provide funds. Where the Broker exercises such discretion, this is to be noted in writing in the trade confirmation. 11.4 All trades executed in accordance with clause 14.3, shall be settled by the Customer, including any and all outstanding amounts owed to the Broker within 24 hours of receipt of confirmation of the execution, by any of the methods as prescribed by the Broker. 11.5 Unless otherwise instructed by the Customer in writing, where the Broker sells securities on behalf of the Customer, the Broker shall ensure that the Customer receives the proceeds to its account with the Broker within 24 hours of settlement, less any fees charges and commission including fees payable to relevant Market and the Authority(ies), if applicable. 11.6 Where the Customer fails to make payment of monies owed to the Broker, the Broker reserves the right to retain any funds or securities due to the Customer and to take such action as is necessary to offset any and all liability incurred on behalf of the Customer. This right shall not affect any legal rights open to the Broker. 11.7 The Customer hereby authorize the Broker to debit his/her account with the Broker for any amounts due at its sole discretion as determined by it. 11.8 The Customer hereby undertakes to pay any and all mounts due to the Broker on the due date, time, mode and amount as specified by the Broker in the event that the balance in the Customer’s account is insufficient to cover payment of the amounts due. 11.9 The Customer shall be liable to maintain sufficient funds in the account maintained with the Broker as and when required by it from time to time. 11.10 All payments made by the Customer to the Broker shall be calculated and made without any set-off, tax of counterclaim and any other deductions of any kind or nature. 11.11 Unless specified by the Broker, currency of account maintained with the Broker, payment and receipt of any sums due from the Customer and vice versa, shall be Arab Emirates Dirham (AED). 11.12 The Customer hereby agree and acknowledge that the Broker has the right and is hereby authorized to liquidate, apply, appropriate and set-off without any notice, at any time and from time to time, all or any part of his assets (including but not limited to any credit in any account(s) maintained with the Broker) in or towards full or partial satisfaction, as the case may be, of his total obligations and liabilities owed to the Broker, whether such obligations and liabilities are actual, contingent, primary or collateral, several or joint, and whether arising hereunder or elsewhere without the need for further consent or subsequent agreement or a court order or any other procedure of whatsoever nature. The Broker is also authorized to withhold delivery of any securities to the Customer against any matured obligation from his side towards the Broker. 11.13 The Customer undertakes that he shall be solely responsible and liable for payment of any reclaims, refunds and credits, where applicable, of all tax assessments, duties, fees, governmental charges (including interest and penalties) in respect of their investment under this Agreement. Where the Broker is required to make payment of such charges under any law or regulation for the Customer, the Broker shall be authorized to debit Customer’s account for the same. 12. Broker’s Charges and Commission 12.1 The Customer hereby acknowledges that that commission and charges on transactions executed through the Broker, as imposed by the relevant Authority(ies) from time to time, shall be paid by the Customer without any objection thereon. 12.2 Payment of all the fees and charges shall be made by the Customer to the Broker, as prescribed by the Broker. The Customer hereby acknowledges and warrants that any and all changes made in the fees and charges made by the Broker from time to time and notified in writingshall be acceptable to him/her. 12.3 Out of such amount, the Broker shall pay certain applicable percentage to the relevant Market and relevant Authority(ies) and shall be entitled to retain the balance. 13. Broker’s Records 13.1 The Broker shall keep, whether in paper or electronic form records of all transactions entered into on behalf of the Customer, including but not limited to the following: (A) Copies of all instruction forms signed by the Customer and confirmations sent to the Customer; (B) Records of any and all telephone conversations entered into with the Customer pertaining to the placement of instructions; (C) Copies of all communications with the Customer made by fax or electronic mail. 13.2 The Customer shall be entitled to copies of each of the above at the cost of the Customer. 13.3 The Customer accepts that in the event of a dispute between the parties, the Broker will be entitled to use these records as evidence against the Customer and records of the Broker shall constitute conclusive evidence as to the correctness of matters to which they relate. The parties agree that any of the following shall be sufficient evidence to prove that the Broker has authorization of the Customer in respect of any order entered into the System by the Broker on behalf of the Customer: (A) The signature of the Customer on the relevant order; (B) A recording of the telephone conversation between the Customer and the Broker during which relevant verbal authorization was given by the Customer to the Broker. (C) Receipt by the Broker of an e-mail or fax instruction from the Customer which was confirmed by the Broker to the Customer on the day of execution of the instruction. 14. Statements of Accounts 14.1 The Broker shall provide the Customer with a statement of any and all money and securities held on its behalf every quarter or when requested by the Customer. 15. Confidentiality 15.1 Subject to the sub-clause below, the Broker shall be responsible for maintaining confidentiality of all details relating to the Customer which have been submitted or obtained in connection with this Agreement, including but not limited to personal details, trading activities and securities holdings and the Broker shall not disclose these details to third parties without prior written consent of the Customer. 15.2 The Customer hereby acknowledges that nothing in this clause shall affect the Broker’s duties of disclosure to any relevant Authority(ies) and/or performance of its obligations under any applicable laws or regulations. 16. Risk Disclosure Statement The Customer accepts that the price of Securities can and does fluctuate and any individual security may experience upward or downward movements and even become valueless. There is an inherent risk that losses may be incurred rather than profit as a result of buying and selling Securities. Securities purchased may become unsellable. Investments should be made in light of careful analysis and only to the extent an investor can reasonably afford. The Customer must assure himself of his Broker’s honesty and competence otherwise the Customer risks his investment being made inappropriately or even that they may be misappropriated and he may not get back the full amount originally invested. The Customer also accepts that all trading activity shall be based on his own analysis of the prospective benefits and losses and shall not be a result of any representation or inducement or advice from the Broker. 17. Disclaimer of Liability 17.1 The Customer hereby acknowledges and agrees that: i. this Agreement does not constitute distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction; ii. the Broker shall not act as investment consultant or advisor for any matter concerning financial securities; iii. implementation of any Customer instructions does not constitute an endorsement by the Broker of Customer’s trading decision; iv. the Customer should consult, to the extent necessary, his own independent, competent, legal and/or financial advisor to ensure correctness of his trading decisions as per his circumstances and financial position; v. the Broker shall have no liability for losses incurred by the Customer or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid financial securities and delays in payment instructions given by the Customer. 18. Amendments to be in Writing 18.1 The parties may enter into amendments to this Agreement from time to time, provided that such amendments are in written form and signed by both parties. 19. Termination 19.1 This Agreement shall continue in full force and effect until terminated by either Party. 19.2 The Customer shall have the right to terminate this Agreement by giving not less than thirty days’ prior written notice to the Broker. 19.3 Without prejudice to the above sub-clause, the Customer hereby acknowledges and warrants that he/she understands and agree that the Broker may terminate this Agreement at any time, a its sole and absolute discretion without assigning any reason thereto, by serving a written notice on the Customer, from the end of which period this Agreement shall stand automatically terminated, without the need of a court order or any other procedure of whatsoever nature. 20. Consequences of Termination 20.1 Termination of this Agreement shall be without prejudice to all rights and obligations arising prior to its termination and to the completion of any transactions in respect of the Financial Securities and the terms of this Agreement will continue to apply during any period of notice. 20.2 Upon termination: (A) This Agreement will remain in force in respect of any outstanding commitments incurred by the Broker on behalf of the Customer. (B) No new commitments will be entered into by the Broker unless and to the extent necessary to end outstanding commitments. 21. Notices 21.1 Any notice to be given to either party under this Agreement shall be made in writing, may be through e-mail, fax or letter to the parties at the addresses set out on the account opening application form or such address subsequently notified to the other party in writing. Customer shall be liable to notify the Broker of any change in contact details. Latest contact details available in Broker’s records shall be deemed as valid contact details for correspondence. 21.2 A notice served by post shall be deemed to have been served forty-eight hours after posting. A notice served by delivery or e-mail shall be deemed to have been served forthwith upon delivery or the sending of the e-mail, as appropriate. A notice sent be fax shall be deemed to have been given when dispatched, subject to confirmation of uninterrupted transmission by a transmission report and provided that any notice dispatched by fax after 17:00 hours on any day shall be deemed to have been received at 08:00 on the next business day. 21.3 In proving service of notices, it will be sufficient in the case of a notice served by post, that such letter was properly addressed, stamped and placed in the post, in the case of a notice served by delivery, that such notice was properly addressed and handed to the addressee or any of its agents and in the case of notice served by e-mail, that the written confirmation was properly, stamped and placed in the post within 24 hours of the relevant e-mail being sent. 21.4 Any notice or document given under or in connection with this Agreement must be in English or if not in English, must be accompanied by a certified English translator and in this case, the English translation will prevail unless the document is a constitutional, statutory or other official document. 22. Assignment 22.1 Neither party may assign, sub-contract, license or in any way dispose of its rights or obligations under this Agreement without the prior written consent of the other. The Customer undertakes not to assign, transfer or pledge any right or interest in the securities without the prior consent of the Broker. 23. Miscellaneous 23.1 This Agreement (including all schedules and attachments), together with any documents referred to in it, constitutes the whole agreement between the parties relating to its subject matter and supersedes and extinguishes any prior drafts, agreements, undertakings, representations, warranties and arrangements of any nature, whether in writing or oral, relating to such subject matter. This Agreement may be executed in any number of counterparts, which shall have the same effect as if the signatures on the counterparts were on a single copy of this Agreement. The Customer duly undertakes that he has read, understood and agreed to all the terms and conditions and is voluntarily executing this Agreement. 24. Governing Law and Jurisdiction 24.1 Without prejudice to the Broker’s right to submit to any other applicable law or jurisdiction, this Agreement and all documents attached shall be construed in accordance with and governing Federal Laws of the United Arab Emirates and the laws of the Emirate in which the Market on which the Broker is licensed to trade on behalf of the Customer, is situated and each Party agrees to submit to the exclusive jurisdiction of the courts of UAE. 24.2 Notwithstanding the above provisions, the Broker shall not be prevented from taking proceedings relating to any matter arising out of or ancillary to this Agreement, in any other Court and from any concurrent proceedings in any number of jurisdictions. 24.3 If, at any time, any provision of the Agreement is or becomes illegal, invalid or unenforceable in any respect under any law or any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired. 25. General 25.1 Both the Parties hereby acknowledge and warrant to comply with all the relevant laws, rules and regulations of the Market(s), as amended from time to time. 25.2 In addition to any other rights or remedies as set out hereunder, the Customer acknowledges and warrants that he/she understands and agree that the Broker has a first and general lien on all his/her assets pursuant to this Agreement to secure repayment of amounts due and/or other obligations owed to the Broker, with a right to withhold delivery of the Financial Securities to the Customer and the right to sell or otherwise realize the value of the Financial Securities and to apply the proceeds in or towards satisfaction of any amounts due and/or other obligations owed to the Broker. 25.3 The Customer further understands and agrees that the Broker shall have the right to set off against any credit held in the Customer’s account in any currency for any amounts due and/or other obligations owed to the Broker from time to time arising out of or in connection with this Agreement. 25.4 No failure to exercise, nor any delay in exercising on the part of the Company, any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 25.5 In the event that the Customer consists of more than one party/persons, the liabilities as set forth in this Agreement shall be joint and several for all such Parties.
I hereby confirm that I have read, understood, and agree to the above mentioned Brokerage Services Agreement. Open Brokerage Services Agreement

ONLINE TRADING TERMS & CONDITIONS
AGREED TERMS 1. INTERPRETATION 1.1. The definitions and rules of interpretation in this Clause 1 apply in this Agreement. "ADX" means Abu Dhabi Securities Exchange. "Business Day" means any day other than Friday and Saturday during which businesses in the UAE are open for the conduct of general business. "DFM" means Dubai Financial Market. "Effective Date" means the date on page one (1) of this Agreement. "Markets" means ADX and DFM. "Mashreq Securities Website" means the Mashreq Securities online website at www.mashreqsecurities.com through which the Customer may access the Markets for the purposes of executing Trading Transactions. "SCA" means the Securities and Commodities Authority established under Federal Law No. 4 of 2000. "Security Code" means an additional confidential code unique to the Password used in correlation with the User ID to properly identify the Customer and provide access to Mashreq Securities Website. "Services" means the services to be provided by Mashreq Securities under this Agreement, as set out in Clause 3 (Services). "Trading Transactions" means placing an order to buy and/or sell securities listed in the Market. "On-Line Trading System" means the system provided by the Broker, which enables its customers to enter buy and/or sell orders of Securities directly over the worldwide web. Upon receipt of such orders, the Online Trading System will immediately process the order for execution in the electronic trading system of the Markets; "UAE" means the United Arab Emirates. "User ID" means the identification code provided by Mashreq Securities to the Customer to access Mashreq Securities Website. "Password" means the confidential code used in correlation with the User ID to properly identify the Customer and provide access to Mashreq Securities Website. 1.2. Clause headings shall not affect the interpretation of this Agreement. 1.3. References to Clauses or Schedules are to the clauses and schedules of this Agreement. 1.4. Words in the singular shall include a reference to the plural. 1.5. A reference to one gender shall include a reference to other genders. 1.6. Any references to a Party shall include a reference to that Party’s successors, representatives and permitted assigns. 2. Commencement and Duration Mashreq Securities shall provide the Services from the Effective Date in accordance with the terms of this Agreement and shall continue to provide the Services, unless terminated by either Party in accordance with Clause 13 (Termination). 3. Services 3.1. Mashreq Securities grants the Customer a single, non-exclusive, non-transferable and limited personal license to access and use the Mashreq Securities Website. 3.2. Mashreq Securities shall provide the Customer with a User ID, Password and Security Code to access the online trading platform provided through Mashreq Securities Website in order for the Customer to execute Trading Transactions and any other services provided by Mashreq Securities, from time to time, at its sole and absolute discretion. 3.3. Mashreq Securities reserves the right to refuse to provide the Services to the Customer for any reason whatsoever and the Customer agrees not to hold Mashreq Securities liable for any such refusal. 4. On-Line Trading Fees Mashreq Securities shall not charge the Customer any fees in relation to the provision of the Services; however it reserves the right to do so at any time in its sole discretion. In the event that, Mashreq Securities exercises its right to charge any fees it shall first notify SCA and then notify the Customer in writing at least twenty (20) Business Days prior to the application of such fees. If no objections are raised by the Customer within ten (10) days from the date of such notice, Mashreq Securities will assume that such fees are accepted by the Customer. 5. Mashreq Securities Website Terms and Conditions The Customer shall, in addition to the terms of this Agreement, comply with the terms and conditions related to the use of the Mashreq Securities Website found on the Mashreq Securities Website. 6. Customer Obligations 6.1. The Customer shall be solely responsible for ensuring that: (i) the User ID, Password and Security Code is used by and known only to the Customer; and (ii) all Trading Transactions made and any actions taken or omitted with respect to the Services are by means of the User ID, Password and Security Code. 6.2 The Customer will promptly notify Mashreq Securities first verbally and then by written notice in accordance with Clause 24 (Notices), if, at any time: (i) the User ID, Password and Security Code are accessible by any other person that is not the Customer; (ii) the Customer becomes aware of any loss, theft or unauthorized use of the User ID, Password and Security Code; and (iii)the Customer has reason to believe that the confidentiality of the User ID, Password and Security Code has been compromised, and the Customer shall remain responsible and liable for any Trading Transactions executed or any other actions taken by the means of the compromised User ID, Password and Security Code prior to the issuance by Mashreq Securities of a new User ID, Password and Security Code to the Customer. 6.3 The Customer shall return and/or disable all equipment, software and applications provided to it by Mashreq Securities for the purposes of the Services immediately upon demand and shall ensure that the equipment is in the same condition it was when provided by Mashreq Securities. 6.4 The Customer shall maintain the confidentiality of any advice, notices and/or correspondences provided by Mashreq Securities in relation to the Services. 7. Mashreq Securities Obligations Upon receipt of a written notice from the Customer pursuant to Clause 6.2, Mashreq Securities will as soon as practicable cancel the User ID, Password and Security Code and issue a new User ID, Password and Security Code to the Customer. 8. Representation and Warranties 8.1. Each of the Parties hereby represents and warrants that: (i) it is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or incorporation; (ii) it has the power to execute this Agreement and to perform its obligations under this Agreement and has taken all necessary action to authorize such execution and performance; (iii)the execution and performance of this Agreement does not violate or conflict with any applicable law, any proviso of its constitutional documents, any order or judgment of any court or other agency or government applicable to it or any of its assets, or any contractual restriction binding on or affecting it or any of its assets; and (iv) its obligations under this Agreement constitute its legal, valid, and binding obligations, enforceable in accordance with its terms. 8.2 The Customer represents and warrants that it is acting as a principal under this Agreement. The Customer shall notify Mashreq Securities in writing in advance if it intends to enter into Trading Transactions through the Mashreq Securities Website as an agent on behalf of third parties. 8.3 Mashreq Securities makes no warranty whatsoever, express or implied, as to the Customer’s ability to access or trade through the Mashreq Securities Website. 9. Customer Acknowledgments The Customer acknowledges that: (i) the Services are provided on an "as is" basis at the Customer’s sole risk and Mashreq Securities expressly disclaims any implied warranties of merchantability or fitness for a particular purpose, including without limitation, the accuracy or completeness of any information provided on the Mashreq Securities Website and any warranty regarding the performance, use or results of using the Services; (ii) Mashreq Securities is not responsible to maintain Mashreq Securities Website or to verify, correct, complete or update any information displayed therein; (iii)there may be circumstances, including, but not limited to, those arising from applicable law, regulation, technical reasons, other agreements between Mashreq Securities and Customer, market suspensions, trading halts, the failure of any exchange system, Mashreq Securities Website or any other system of Mashreq Securities or its affiliates, or any connectivity or communication failures/performance, when Mashreq Securities suspends access to the Mashreq Securities Website to the Customer or when Mashreq Securities cannot implement or comply with the Customer’s Trading Transactions; (iv) certain Trading Transactions may not be executed through Mashreq Securities as a result of restrictions and limitations placed by the Markets’ rules and regulations and the Customer releases Mashreq Securities from any and all liability which may arise as a result of the Customers inability to execute the Trading Transactions as a result of such restrictions and limitations; (v) the User ID, Password and Security Code are confidential information and shall not be used for or by any person or entity other than the Customer and agrees not to hold Mashreq Securities liable for any claim or loss resulting from the unauthorized disclosure of the User ID, Password and Security Code; (vi) any Trading Transaction made through the Mashreq Securities Website shall constitute a confirmation of such Trading Transactions and shall have the same force and effect as a confirmation physically executed on behalf of Mashreq Securities and the Customer; (vii) the risks related to executing placed orders online due to price fluctuation resulting from the mechanism of supply and demand in the relative market; and (viii) any violation of the relative Market or SCA rules and regulations shall be subject to fines and that such fines may be deducted by Mashreq Securities from the Customer’s account held with Mashreq Securities in the event of such a violation without prior notice. 10. Use of Third Party Service Providers Mashreq Securities may use third party service providers to assist in providing the Services without notice to the Customer (each a "Third Party Service Provider"). Mashreq Securities may also change Third Party Service Providers or may itself provide the Services without the assistance of such third party. The Customer consents and authorizes Mashreq Securities to delegate the authorizations the Customer provides to Mashreq Securities to its Third Party Service Provider as Mashreq Securities deems necessary to provide the applicable Services to the Customer. The Customer agrees that the terms and conditions of this Agreement and any other terms, conditions, warranty, disclaimers and liability disclaimers incorporated into this Agreement, inure to the benefit of such Third Party Service Providers. 11. Use of Mashreq Securities Website The Customer hereby undertake not to: (i) use any electronic communication feature on Mashreq Securities Website for any purpose that is unlawful, tortuous, abusive, intrusive on another’s privacy, harassing, libelous, defamatory, embarrassing, obscene threatening or hateful; (ii) collect or store personal data on other users; (iii)to use any of the Services for any commercial purpose not expressly approved by Mashreq Securities in writing; (iv) upload, post, email or otherwise transmit any advertising or promotional materials or any other form of solicitation or unauthorized communication; (v) nor will it permit any third party to, take any action which may impair the use of or integrity of the Mashreq Securities Website; and (vi) not copy, reproduce or amend the Mashreq Securities Website software or any documents related thereto nor download or divert the Mashreq Securities Website software from any computer or electronic device to any other computer or electronic device. 12. Hyperlinks Mashreq Securities may make available links from the Mashreq Securities Website to third party sites or services providers that are not affiliated with Mashreq Securities. Mashreq Securities does not control these other sites or services, and Mashreq Securities makes no representation or endorsements whatsoever concerning those sites or services. The fact that Mashreq Securities has provided a link to a site is not an endorsement, authorization, sponsorship or affiliation with respect to such site, its owners or its providers. The Customer agrees that under no circumstances will it hold Mashreq Securities liable for any loss or damage caused by the use of or reliance on any content, goods or services available on other sites. 13. Termination 13.1. Without prejudice to any other rights or remedies which the Parties may have, either Party may terminate this Agreement by providing the other a fifteen (15) Business Days written notice of the termination. 13.2 Clause 8 (Representation and Warranties), Clause 9 (Customer Acknowledgments) and Clauses 10 through 26 shall survive the termination of this Agreement. 14. Modifications, Suspensions and Terminations of the Services 14.1 Mashreq Securities reserves the right to modify or discontinue temporarily or permanently the Service with or without notice. The Customer agrees that Mashreq Securities will not be liable to the Customer or to any third party for any modifications, suspension or discontinuance of the Services. The license granted under this Agreement will terminate if Mashreq Securities believes that any information provided by the Customer, including the Customer’s contact information is no longer current or accurate or if the Customer fails to otherwise comply with any term or condition of this Agreement or the Markets or SCA rules and regulations and upon such violation the Customer agrees to terminate access to the Services. 15. IP Rights Mashreq Securities Website, any trademarks and trade names used in conjunction with Mashreq Securities Website and any such information are the property of Mashreq Securities or its licensors and are protected by applicable copyright, patent, trademark and other intellectual property law. The Customer may not reproduce, provide access to, modify, or commercially exploit in whole or in part the Mashreq Securities Website or any information provided through the Mashreq Securities Website in any manner whatsoever. 16. Liability Mashreq Securities will have no liability, contingent or otherwise, to the Customer or to any third parties, for: (i) any errors or omissions in entry, transmission, execution or reporting of Trading Transactions; (ii) the Customer’s inability to execute Trading Transactions as a result of insufficient funds in the account of the Customer, incomplete/unclear Trading Transaction instructions and/or or the Customer’s failure to comply with the instructions provided by Mashreq Securities on how to use the Services; (iii) the failure of any connection or communication service; (iv) the Customer’s inability to access Mashreq Securities Website, or for any delay or interruption or disruption of such access or any erroneous communications between Mashreq Securities and Customer regardless of whether the connection or communication services is provided by Mashreq Securities or a Third Party Service Provider; (v) the capacity, accuracy, timeliness, completeness, reliability, performance or continued availability of the Mashreq Securities Website; (vi) the existence of any viruses or other malicious computer code on the Mashreq Securities Website; (vii) damages, including without limitation, any direct, special, indirect, incidental or consequential damages, resulting from the use of Mashreq Securities Website even if Mashreq Securities has been advised of the possibility of such damages; and (viii)its failure to perform its obligations under this Agreement due to any event beyond its reasonable control. 17. Indemnification The Customer agrees to indemnify and hold Mashreq Securities and its affiliates, agents, employees and licensors (including Third Party Service Provider) harmless from any claim, demand, loss, costs, or expenses, including legal fees, arising out of the Customer’s infringement of any copyright, violation of any proprietary rights, breach of this Agreement, breach of any Market or SCA rules and regulations, use of Mashreq Securities Website, placing and/or executing Trading Transactions fraudulently, negligently or in willful default. 18. Disclaimer of Advice Mashreq Securities is acting in the capacity of a provider of the Services and not as a financial advisor or fiduciary. Mashreq Securities does not purport to provide any financial, investment, tax, accounting or legal advice to the Customer and no information published or provided through Mashreq Securities Website constitutes a recommendation or representation on the suitability of any financial instrument or transaction. Furthermore, the Services do not constitute an offer for or a solicitation to the Customer to subscribe to any of the investment services provided by Mashreq Securities. 19. Consent to Disclosure The Customer hereby consents to the communication and disclosure of any and all information related to the Trading Transactions made pursuant to this Agreement and this Agreement by Mashreq Securities, including any of its officers, agents or employees, to: (i) all other affiliates of Mashreq Securities; and (ii) all government and regulatory authorities, including SCA and the Markets, as and when required by such government and regulatory authorities, provided that Mashreq Securities limits such disclosure to the extent possible, and legally permissible, to what is necessary. 20. Entire Agreement 20.1. This Agreement constitutes the entire agreement and understanding of the Parties with respect to its subject matter and supersedes all oral communication and prior writings with respect thereto. Each Party acknowledges that it has not been induced to enter into this Agreement by any representation or warranty made by or on behalf of the other Party that is not set forth in this Agreement. 20.2. This Agreement is additional to any other agreements the Customer has entered into with Mashreq Securities. In the event of any conflict between this Agreement and any such other agreement, this Agreement shall prevail in respect of the Customer’s access to Mashreq Securities Website. 21. Waiver and Amendments No amendment or waiver of any provision of this Agreement shall be effective unless made in writing by both Parties. Any amendment or waiver shall be effective only in the specific instance and for the specific purpose for which it is given. Notwithstanding the foregoing, Mashreq Securities reserves the right to amend the terms of this Agreement at any time by providing the Customer a ten (10) day prior written notice. 22. Assignment Neither this Agreement nor any interest or obligation in or under this Agreement may be transferred or assigned by the Customer without the prior written consent of Mashreq Securities. Any transfer or assignment that is not in compliance with this Clause 22 will be void. 23. Severability In the event any provision of this Agreement or any portion thereof is held invalid, illegal or unenforceable, the remaining provisions shall be unimpaired and the invalid, illegal or unenforceable provision shall be enforced to the extent possible. 24. Notices Any notice under this Agreement must be given in writing to the recipient at the address appearing on page one (1) of this Agreement (or such other address or recipient as it has previously provided to the other Party in writing). 25. Compliance with Applicable Law The Customer acknowledges that its use of Mashreq Securities Website may be restricted or limited as a result of applicable law or regulations or rules of regulatory or self regulatory organization and agrees that it will act in accordance with such laws, regulations and rules and any terms and conditions established for the use of the Mashreq Securities Website, whether set forth in this Agreement or in any other document communicated to the Customer. 26. Governing Law This Agreement shall be governed by the federal laws of the UAE and the Emirate of Dubai. The Parties agree that the courts of Dubai shall have jurisdiction to resolve any dispute arising from this Agreement. By signing this Agreement, the Customer expressly acknowledges: (i) that Trading Transaction may not be processed immediately due to the procedural system implemented by the Market; (ii) the risks related to executing Trading Transactions online due to price fluctuation resulting from the mechanism of supply and demand in the Markets; (iii) that loss may occur as a result of delays in the execution of Trading Transactions or the non execution thereof due to technical reasons; and (iv) that it shall bear all liability arising from the use of the Services. The Customer solely liable and responsible for all orders executed by the Customer through the Online Trading System.
I hereby confirm that I have read, understood, and agree to the above mentioned Trading Terms and Conditions. Online Trading Terms & Conditions Form


Brokerage Services & Fees
The Broker will provide full brokerage services for financial securities to the Customer including sale and purchase of securities and administration of customer accounts and all other activities the broker is authorized to perform as a Broker.
Information about rules and regulations of the Markets and guidelines issued by ESCA for investors can be accessed at the following URLs:
http://www.adx.ae/English/EducationCenter/Pages/RulesRegulations.aspx
http://sca-mo1.sca.ae/English/legalaffairs/Pages/default.aspx
http://www.dfm.ae/pages/default.aspx?c=806



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Mashreq Securities L.L.C.

7th Floor, Al-Ghurair Office Tower No. 4, Deira, Dubai, United Arab Emirates P.O. Box 1250, Dubai – U.A.E., Telephone:+971 4 363 2222, Fax. +9714 424 7322, Email. info@mashreqsecurities.com. www.mashreqsecurities.com.

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ADX Investor Number:____________

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