Agreement
TERMS AND CONDITIONS
1. Reward Investments & Services Limited (Reward) office is open for business between 8:00am and 5:00 pm on each day that is designated a Business day in Nigeria.
2. Mandates can be forwarded to Reward Investments & Services Limited through our email
info@rewardinvestments.com. Mandates can be sent via text message to our mandate line 09091786259.
3. Mandates sent using the dedicated email address or contact telephone line should be explicit in stating price limits and duration for which the mandate is valid. In a case where a timeline for a mandate is absent, the mandate will be worked on for execution within duration of 10 working days only. Where the mandate cannot be executed due to market conditions within this period, the mandate must be revalidated by the client.
4. Reward will only execute transactions BUY or SELL on the floor of The Nigerian Stock Exchange where a mandate has been received through the channels mentioned in clause 2.
5. Mandates will be executed at the best market price at the time of execution on the floor of The Nigerian Stock Exchange.
6. Reward will endeavour to execute all mandates, however, execution of mandates cannot be guaranteed as this largely depends on market conditions. It is therefore possible for a mandate not to be executed even if the instruction received was to carry out the transaction at market price.
7. Buy mandates will only be executed if the clients’in-house account is funded and the available balance are sufficient to cover the cost of the transaction.
8. The proceeds from a sales mandate can be used in carrying out a buy mandate before settlement provided that the proceeds from the sale cover the cost of the buy mandate.
9. Clients will receive a contract note as soon as a transaction is executed on The Nigeria Stock Exchange. Client will receive daily emails confirming the status of their order stating if the mandate has been executed, cancelled or open.
10. Proceeds from sales will only be transferred to clients after settlement, currently, transaction day plusthree(3) days and upon request made by the client through the agreed channel(s). It should be noted that unless a request is received, the funds will remain in the clients non-interest bearing stockbroking account.
11. Mandates placed through the online portal are executed directly on the Nigerian Stock Exchange without any physical interference.
12. Withdrawal requests can be made by sending a mail to info@rewardinvestments.com. Funds shall only be transferred to account details provided at account opening in line with clients’account opening documentations.
13. Withdrawal request will be treated within 24 hours. Reward shall not be held liable for delays experienced as a result of lapses or delays by any Bank(s) as regards client’s withdrawal request.
14. Withdrawal requests will only be honored if the balance in the clients stockbroking account is sufficient to cover the amount being requested.
15. Reward shall not execute or honour any withdrawal requests to third party accounts.
16. Reward shall not accept pre-signed blank mandate from any client and clients are hereby prohibited from depositing such mandates.
17. Reward can be contacted via email: info@rewardinvestments.com, or via telephone: 08187478937.
CLIENT’S ONLINE PORTAL INDEMNITY
Access to and use of this website and portal is at the users or client’s own risk. Reward does not represent or warrant that the use of this site or any material downloaded from it will not cause damage to property, including but not limited to loss of data or computer virus infection.
No third party is permitted to link any other website to this site without obtaining prior written consent from Reward.
Reward shall not be responsible for theft or divulgence of password leading to any liability on the clients’ account.
Reward will make all reasonable endeavour to ensure the integrity and security of the server, however, Reward does not guarantee that the server will be free from unauthorized users or hackers. Reward shall not be liable for non-receipt of mis-routing of email or for any other failure of client(s) email.
I/We hereby agree to keep Reward Investments & Services Limited indemnified from and against all actions, proceedings, claims and demands which may be brought or made against Reward and all loses, costs, charges, damages and expenses which may be incurred or sustained or for which Reward may become liable by reason of honoring mandates received via recorded telephone lines, mandate line, e-mail and other electronic channels instructions, provided that Reward has taken all measures prescribed by this agreement irrespective of whether the instructions are in fact erroneous, fraudulent or issued otherwise in which Reward may be acting on client’s behalf or in accordance with clients instructions.
CONFIRMATION
I/We hereby confirm that I/We have read and agree to the above terms and conditions and indemnity.
Name of Account Holder: ………………………………………………………………………………………………………….
Authorized Signature: ………………………………………………………………………………………………………….
Authorized Signature: ………………………………………………………………………………………………………….
Dated this…………………………………………… day of …………………………………………………20…………………………………
