Terms and definitions

1.1 This document, hereinafter referred to as the Agreement, uses the following terms and definitions:

" Affiliate " – in relation to the Company means any legal entity controlled by the Company or controlling the Company directly or indirectly, as well as any legal entity under common control with the Company directly or indirectly. "Control" here should be understood as the ownership of a controlling stake in the Company or the above-mentioned legal entities.

"Quote Database" – information about the Flow of quotes, which is stored on the Company's Server.

"Base Currency" – the currency indicated first in the Currency Pair at the exchange rate of which the Client buys or sells the quoted currency.

"Balance" – the total financial result of all completed deals and money transfer operations that are carried out on the Trading Account.

"Trading Account Currency" – the currency chosen by the Client at the time of opening the Trading Account.

"Quote Currency" – the currency specified by the second currency in the Currency Pair that the Client buys or sells to get the Base Currency.

A "Currency pair" is an object of a Trading Operation that is based on a change in the value of one currency in relation to another currency.

"Website" means the Company's website, as well as any other website that the Company recognizes as official and that it may periodically maintain for Customer access.

"Customer Data" means any data, documentation or other information received by the Company directly from the Customer or otherwise in relation to the Customer, his Account, providing or use of the Services.

"Data submission date" – each of the data submission dates agreed upon by the parties.

"Long position" – the purchase of an Instrument with the expectation of an increase in the exchange rate. Or, in the case of Currency Pairs, buying the Base Currency for the Quote Currency.

"Precious metal" or "Spot Metal" – cash, gold or silver.

"Request for quotation" or "Request " is the Client's instruction to the Company to receive a quotation, which is not the Client's obligation to make a deal.

"Indicative quote" – A Quote for which the Company has the right not to accept any instructions, not to execute any Orders.

"Instrument" means any financial assets offered by the Company for trading: currency pair, spot metals, contract for difference and others.

"The Company" – WhiteFleet

"Credit Leverage" or "Ratio between borrowed and own funds" – the ratio of 1:25, 1:50, 1:100, 1:200, 1:500, 1:1000 etc. between the Initial Margin and the Volume of the Trading Operation. In relation to opening a position, the ratio of 1:100 means that the Initial Margin is one hundred times less than the Volume of the Trading Operation. Other ratios may also be published on the Company's website.

"Client" means any eligible legal entity or individual, excluding individuals under the age of eighteen and stateless persons who have completed the Client Registration Form on the Company's website.

"Short position" – a deal for the sale of a currency that is profitable when market prices fall in relation to Currency pairs: the selling rate of the Base currency relative to the Quote Currency.

"Quote" – information about the current Rate of the Instrument, expressed in the form of Bid and Ask prices

"Rate" - in relation to a Currency Pair, means the value of a unit of the Base Currency, expressed in the Quote Currency. In the case of a Precious Metal, it means the price per troy ounce of the Precious Metal, expressed in the currency that is provided for this Instrument in the Contract Specification.

"Client terminal log file" – a file that creates a client terminal and that logs all requests and orders sent by the Client to the Company, up to the second.

"Server log file" – a file that the Server creates and that logs all requests and orders received from the Company's Client, as well as the results of their processing accurate to the second.

"Lot" – the standard deal sum, the amount of the Base Currency, troy ounces, Securities, Precious Metal on the Trading Platform.

"Locked positions" – positions of the same volume, Short and Long, including any trading and non-trading operations, but not limited to those opened by the Company for the same Instrument on the same Trading Account.

"Margin" or" Collateral " – the necessary guarantee funds specified in the Contract Specification for each Instrument to maintain Open Positions.

"Margin trading" – currency trading and other futures deals on the exchange market, in which the Client can perform Trading Operations. At the same time, it is allowed to have significantly less funds on the Trading Account than is necessary, based on the Volume of the Trading Operation.

"Illegal income" – means income received as a result of the occurrence of a Case of default, violation of any of the provisions of Regulatory Documents or incorrect quotation.

"Required Margin" – is the monetary security required by the Company to maintain open positions. Listed on the Company's Website in the Contract Specification for each Instrument.

"Normal market conditions" – a market where there are no significant gaps in the Flow of quotes on the Trading Platform, as well as rapid price movements and large Price gaps.

"Trading volume" – multiplying the lot size by the number of lots.

"Agreed procedure" – means any procedure related to a Dispute and agreed upon between the Parties, except for the Dispute Settlement Procedure, to which the Parties have the right to make changes.

"Order" – the Client's order to perform a trading operation (for example, to open or close a position when the price reaches the order level).

"Opened Position" – is a Short or Long Position that is not a full completed transaction.

"Erroneous quotes" – quotes that were received in the Client Terminal due to a system technical error.

"Initial Margin" – the margin that the Company requires to open a position.

"Floating profit", "Floating loss" – current profit or loss on Open Positions, which are calculated at current Quotes.

"Liquidity provider" – means a bank or electronic system for the purchase and sale of exchange-traded goods (ECN) that provides streaming prices to the Company. They can be used by the Company to hedge client's deals.

"Quote flow" – is the process of entering Quotes for each Instrument into the Trading Platform.

"Lot Size" – means the trading conditions of the Company specified in the Contract Specification: the number of Securities, units of Base Currency, base assets or troy ounces of Precious Metal in one Lot.

"Market conditions other than normal" – conditions that differ from Normal market Conditions by low liquidity, price gaps, and rapid price changes.

"Free Margin" – funds on the Trading Account that can be used to open a position. Calculated by the formula: Funds [minus] the Required margin.

"Server" – is a software product that: processes client requests and orders; provides the Client with information about trading on financial markets in real time and to the extent determined by the Company; keeps records of mutual obligations between the Client and the Company in accordance with the terms of Regulatory documents.

"Contract Specification" – the main trading conditions for Trading Instruments: Lot Size, Spread, Initial Margin, Hedged Margin, etc. Displayed on the Company's Website.

"Spread" – the difference in points between the Ask Price and the Bid Price.

"Funds" – the current state of the Client's account, determined by the formula: Balance [plus] Floating profit [minus] Floating loss.

"Third-party service provider" – a legal entity that will perform all or part of the operations for the corresponding position for both Parties and which is agreed by these Parties.

"Trading Account" – is a unique personalized system for registering and recording all trading operations with financial instruments performed by the Client: full completed transactions, Orders, Open Positions, transactions for depositing or withdrawing funds in the Trading Platform and other cash flows.

"Trading Operation" or "Deal " – means any deal concluded by or on behalf of the Client in accordance with the Agreement and the Rules of Operations.

"Trading Platform" – means all technical resources and programs provided by the Company, consisting of a Server and a Client Terminal, which allow: to carry out Trading Operations; to receive Quotes in real time; to place/ change / delete / execute Orders and to calculate all mutual obligations existing between the Client and the Company.

"Margin level" – the ratio of Funds to the Required Margin expressed as a percentage. Calculated using the formula: (Funds / Required margin) × 100%.

"Order level" – the price indicated in the Order.

"Services" – means the services provided by the Company to the Client specified in Paragraph 4 of this Agreement.

"Client registration form" – the form of the application, which he must fill out in the "Personal Cabinet" on the Company's Website for registration.

"Force majeure" – the meaning of this term is specified in Paragraph 16 of the Agreement.

"Hedged Margin" – is the margin required by the Company to open and maintain Positions with the opposite direction. A detailed description can be found in the Contract Specification.

"Demand Price" or ''Ask" – is the higher Quote price at which the Customer can buy the currency.

"Offer Price" or "Bid" – is the lower Quote price at which the Client can sell the currency.

"Price gap" means:

1) The current Ask is lower than the Bid at the previous Quote; or

2) The current Bid is higher than the Ask at the previous Quote.

"Stop Loss" – a Trading order that can be attached to a previously opened position to close it at a price less favorable to the Client than the current price at the time of placing the order.

"Stop Out" – an order generated by the Server to forcibly close all or part of previously opened positions. Closing is made in case of lack of funds to maintain an Open Position without the Client's consent and Prior notification of this.

"Take Profit" – a Trading order that can be attached to a previously opened position to close it at a price more favorable to the Client than the current price at the time of placing the Order.

2. General provisions

2.1 This Client Agreement (hereinafter referred to as the "Agreement" in the text) is concluded between the Company and the Client.

2.2 The Company should be known as WhiteFleet.

2.3 The terms and definitions used in the Agreement are specified in Paragraph 1 (hereinafter referred to as "Terms and Definitions").

2.4 The Agreement represents itself the full scope of arrangements between the Client and the Company in conjunction with the following documents listed on Web site in the section "Treaties and Regulations", which may be periodically have additions or changes (hereinafter collectively referred to as the "Regulatory documents"): Regulations on trading operations, Regulations on the implementation of the operations, the Regulations of the service "PAMM-account", a Statement of disclosure of risks and other regulatory documents.

2.5 The function of the Regulatory documents is to regulate the procedure for all trading and non-trading operations of the Client in the Company. They should be carefully reviewed by the Client, as they contain important information that the Company is required to provide to the Client in accordance with the applicable provisions of the Law.

2.6 In TheRegulatory Documents, including periodic changes and additions, set out the conditions under which the Company is entitled to carry out deals with the Client in relation of Instruments.

2.7 The Company does not act as an agent of the Client in relation to each Trading Operation of the Client, but as a direct participant of the agreement. Therefore, the Company will consider the Client as a Client in all respects, and the Client is obliged to bear full and direct responsibility for the execution of obligations under any Trading Operation carried out by him (in the absence of other agreements).

2.8 If the Client acts on his own behalf or in relation to any other person, regardless of whether the Client discloses his identity or not, the Company will not consider the above person an indirect client and will not bear any obligations to this person (unless otherwise agreed).

3. Entry into force

3.1 The Agreement is considered to be the initial agreement on the providing of services to the Client by the Company related to individual operations or a series of consecutive operations, including Trading Operations with Instruments.

3.2 This Agreement is concluded electronically and enters into force remotely. The Client does not have the right to cancel the Agreement only on the basis of that it is concluded remotely in electronic form.

3.3 The terms and conditions of the Regulatory Documents are recognized as accepted by the Client unconditionally on the date when the Client receives a notification from the Company in accordance with Paragraph 4.1 and are valid until they are terminated at the initiative of either Party.

4. Activation of Personal Cabinet and Trading Account

4.1 The Client's Personal Cabinet will be activated only after:

1) The Company will receive the completed Client's Registration Form from the Client;

2) The Client will accept the terms of the Regulatory Documents;

3) The Company will conduct verification of identification documents;

4) The Company will approve the methods of depositing and withdrawing funds by the Client;

5) The Company will notify the Client about the activation.

4.2 The Company has the right, at its sole discretion, to refuse to register the Client's Personal Cabinet on the basis of the documentation received from the Client, even if it is filled in by the Client properly and to the full extent.

4.3 In order for the Client to start using his Trading Account, he must make a minimum initial payment.

4.4 After activating the Personal Cabinet and Trading Account, the Client will be able to see the amount due to him as the account balance in the Personal Account at any time and will be entitled to withdraw it upon request.

5. Services

5.1 Services provided by the Company to the Client:

1)investment: execution of the Client's Orders regarding financial instruments at its own expense, receiving and transmission of orders;

2) foreign currency: in connection with the providing of Investment Services in accordance with Paragraph 5.1_1) of the Agreement;

3) responsible storage and control of financial instruments: including related, for example, cash management services described in Paragraph 7 of the Agreement. If applicable, they are provided at the Customer's expense;

4) to provide the Client with access to information: on the analysis of its investments, as well as any other information that is important to the Client in relation to its financial instruments;

5) deposit insurance: at the request of the Client, his account can be insured against partial or complete loss of funds;

6) on legalization of the profit received by the Client: assistance in opening an account in a foreign bank, registration of an offshore company for legalization of income.

7) on the conversion of funds: when they are withdrawn (at the Client's expense);

5.2 The Company provides the above-mentioned Services to the Client subject to the full execution of the Client's obligations that arise in accordance with the Regulatory Documents and taking into account other rights of the Company provided for in the Regulatory Documents. The Company provides the Client with the opportunity to make operations provided for in the Agreement and Regulatory Documents using the Tools of the Website and the capabilities of the Personal Account only if the Client fulfills all obligations under the above documents.

5.3 The Company carries out all Trading Operations with the Client on the principle of "execution only". The Company has the right to carry out Trading Operations, despite the fact that any of these operations may be unprofitable for the Client.

5.4 The Company has the right to provide the Client, and the Client has the right to request the Company to provide him with personal recommendations and investment advice in relation to any Trading Operations, as well as the opinions of the Company's experts who can motivate the Client to carry out any Trading Operation.

5.5 The Company has the right to provide information and recommendations at its discretion and on a periodic basis. The above information may be published as news on the Company's Website, provided to subscribers as a newsletter through the Website, or otherwise. Any recommendations or analytical reports of the Company can be published on one or more interfaces of its information services. In this case:

1) the above information is provided to the Client solely to enable him to make his own investment decisions and does not an investment recommendation or promotion of the Company's financial product that the Client has not requested;

2) The Company does not provide the Client with any guarantees and assurances regarding the tax consequences of any Trading Operation, as well as regarding the completeness and accuracy of the above information;

3) The Company does not make any statements regarding the period of receipt of the above information by the Client and does not guarantee that the Client will receive this information at the same time as other clients of the Company.

4) the above information, including market news and comments, may be changed or deleted by the Company at any time without notice to the Client.

5) the information does not necessarily take into account the laws or relevant regulations of the country of residence of the Client. It follows that it is the Client's responsibility to independently comply with the above provisions.

6) if any document of the Company contains any restriction regarding the person or category of persons for whom this document is not intended, the Client undertakes not to transfer this document to any of the above-mentioned person or category of persons;

5.6 The Company has no obligations (unless otherwise specified in the Regulatory Documents): monitoring any Trading Operation of the Client or notifying the Client of its status; closing any Open Positions of the Client; on the presentation of the margin requirements.

5.7 The Company does not provide physical delivery of the Underlying Asset of any Instrument in relation to any Trading Operation. The Client's gains or losses from foreign exchange differences in the course of any Trading Operation will be reflected in his Trading Account immediately after this Trading Operation is closed.

5.8 The Client is obliged to provide sufficient information on the Company's request about the experience and knowledge in the field of investment, so that the Company can assess whether a particular service or product is suitable for the Client. The Company will consider that the above information provided by the Client is accurate and will not bear any responsibility to the Client in the event that the information is incomplete or misleading, as well as in the event of its change or unreliability (except in cases where the Client notifies the Company of these changes).

5.9 The Client undertakes to transfer his / her personal data at the request of the Company registered as a data controller in accordance with the Law, for identification purposes, for administrative and business purposes, in order to fulfill his / her legal and contractual obligations in accordance with this and other agreements of the parties. The necessary information and documents about the Client must contain his full name, date and place of birth, address, jurisdiction of residence / registration, bank account number. The Client agrees to provide the necessary data to the Company with the right to transfer them to lawyers, auditors, financial consultants and other service providers and contractors with whom the Company enters into contracts.

5.10 The Company has the right at any time and at its sole discretion to refuse to provide Services to the Client without explanation of reasons. The Client agrees that the Company is not obliged to inform him of the reasons for its refusal, as well as that the Company reserves the right to suspend, postpone, change the terms of service in the event of Market Conditions that differ from normal.

5.11 The Company reserves the right to close, suspend or cancel any Trading Operation if it suspects any fraudulent or misleading activity on the Client's account (s). Such forms of activity may include, for example, arbitration transactions of purchase and sale, manipulative actions, any other fraudulent activity that is otherwise related to or related to any Trading Operations. The Company also reserves the right to close, suspend or cancel any Trading Operation that has occurred as a result of any technical error or incorrect configuration on the Server. In this case, the Company will not be responsible for the cancellation of the Trading Operation or income and for damages or losses that may arise as a result of the suspension, closure, or cancellation of the Trading Operation. The Company will be entitled to deduct any income that it considers to have been improperly received by the Client, and to charge the associated costs.

5.12 All Requests from the Client will be considered by the Company in terms of their size. If the size of the Request is greater than the Company can execute at the moment in accordance with current market conditions, the Order may be rejected or partially executed at the sole discretion of the Company.

5.13 The Client accepts and confirms that all trading and non-trading history stored in his Personal Account will be available for viewing and downloading at any time.

6. Exchange of information

6.1 The rules for the exchange of information between the Company and the Client are set out in the Regulations of trading operations, which are posted on the Company's Website in the section "Treaties and Regulations".

6.2 The Client agrees that he is obliged to provide Requests and Orders exclusively through the Client Terminal in accordance with the above-mentioned Regulations of Trading Operations.

7. Commissions and other costs

7.1 The Company is obliged to display all applicable commissions and other costs on the "Contract Specification" page, which is located on the Company's Website in the "Trading Conditions" section and has the right to make changes to them without the need to provide the Client with prior written notice. Proper notification of these changes will be considered the very fact of their publication on the Company's Website.

7.2 The Client is obliged to pay the Company the above-mentioned commissions, pay all stamp duties necessary for the implementation of Trading Operations and bear other costs provided for in this Agreement and Regulatory Documents.

7.3 The Company has the right to send, and the Client agrees to receive, notifications in case the Company pays any commissions or fees to any third party who provided the Company with this Client or acts on its behalf.

7.4 The Client is personally responsible for all reports and tax returns submitted by him on any Trading Operations that are subject to submission to any relevant state or other authority, as well as for payment of all taxes arising in connection with any Trading Operation, including, without limitation, value added tax and tax on the transfer of securities or property.

7.5 All Client funds are stored in the Company's accounts, including segregated accounts opened in the Company's name for storing Client's funds separately from their own.

7.6 Since the Company does not charge a commission for opening and maintaining an account when opening it, the Client has the right to withdraw the funds deposited by him no earlier than twenty banking days.

8. Conflict of interests and material interest

8.1 In cases where the Company carries out deals with or on behalf of the Client, the Company, as well as any related or affiliated person with the Company, may have an interest or agreement that is significant in relation to the Trading Operation or may be contrary to the interests of the Client. In these cases, the Company may:

1) to carry out deals with Instruments as a principal at its own expense through the purchase of the Instrument from the Client or the sale of the Instrument to the Client;

2) to hold a Long or Short Position and other deals with any Instrument that the Company offers to the Client;

3) to coordinate the Client's Trading Operations with himself or with another client, acting on behalf of the Client or on behalf of another Client;

4) to provide an advise and give various services to other clients of the Company or to any related parties that may be interested in the Underlying Assets or Investments of the Client, provided that such interest may conflict with the interests of the Client;

8.2 The Client authorizes the Company to carry out deals on behalf of the Client without prior notice in any manner that the Company considers appropriate, despite any conflict of interests or material interest of the parties in the Trading Operation;

8.3 Employees of the Company are obliged to comply with the independence policy and are obliged not to take into account any conflict of interests or material interest when providing advice to the Client.

9. Limitation of Responsibility and Compensation of Damages

9.1 The Client confirms that the Company is not responsible for the usage of the information, advice or recommendations provided. The Client confirms that the Company is not responsible for any expenses, losses, costs or damages suffered by the Client as a result of any inaccuracy or mistake in any information provided to the Client, including information related to any Trading Operations, excluding such losses that the Client has suffered as a result of malicious actions, fraud or gross carelessness on the part of the Company.

9.2 In view of the fact that the Company has the right to close or cancel any Trading Operation in the circumstances specified in the Regulatory Documents, this Trading Operation, after the mistake or inaccuracy specified in Paragraph 9.1, nevertheless remains valid and lays obligations in all respects on both the Company and the Client.

9.3 The Company will not be responsible for any losses or expenses inflicted by the Client, directly or indirectly arising in connection with:

1) trading operations carried out through the Client Terminal;

2) with any delay caused by the Client Terminal, or any failure in the operation of the Trading Platform;

3) any violation of the Company's obligations specified in the Regulatory Documents, which happened for reasons beyond its control;

4) carelessness or any other actions of any third party.

9.3 At the request of the Company, the Client have to compensate all costs, expenses, obligations or claims suffered by the Company as a result of direct or indirect nonfulfillment by the Client of any obligations assumed by him in accordance with Regulatory Documents.

9.4 Under no circumstances the Company will not be responsible to the Client for lost profits or benefits (including in relation to consecutive market movements), for any direct or indirect losses, costs, expenses or damages that the Client may suffer in accordance with Regulatory Documents, unless otherwise specified in the Regulations of Trading Operations.

10. Modification and Termination of the Agreement

10.1 The Company has the right to unilaterally make changes to the terms and conditions of Regulatory Documents at any time, and is obliged to provide the Client with a notification by e-mail or publish information about the above changes on its Website.

10.2 Each party has the right to terminate this Agreement by giving a Written Notice to the other party.

10.3 Upon termination of this Agreement, the Company has the right to stop providing the Client with access to the Trading Platform without prior notice.

10.4 Upon termination of the Agreement, all amounts, fees and commissions that the Client is required to pay to the Company will be immediately payable, including (but not limited to):

1) any operating expenses suffered by the Company in connection with the termination of this Agreement and in connection with the transfer of the Client's investment to another investment company;

2) any losses and expenses suffered by the Company in closing any Trading Operations of the Client and in settling or fulfilling any overdue obligations taken by the Company on behalf of the Client.

10.5 The Company has the right to deactivate the Client's account without prior notice if the Client places a deviating from standard number of erroneous Requests that have created an excessive load on the Company's servers and may lead to a negative trading experience for other clients using these servers. Erroneous requests may include (but are not limited to): a large number or exceeding the allowed values volume of Requests, applications with insufficient funds in the Client's account, incorrect processing of Trading operations or the system log, not valid steps or changes.

11. Use of the Trading Platform and security

11.1 When using the Trading Platform, the Client does not have the right to allow such a result of actions or omissions that may violate the security of the platform or lead to its improper work. The Client is not entitled to perform any actions that could potentially lead to unauthorized access or inappropriate use of the Trading Platform. The Company has the right, at its sole discretion, to terminate or restrict the Client's right of access to the Trading Platform, if it suspects him of having allowed such use of it or attempted to carry out the above actions.

11.2 The Client has the right to analyze, store, change, format, display and print information provided on the Company's Trading Platform. The Client does not have the right to publish, reproduce or transfer in any way part or all of the information provided on the Company's Trading Platform in any format to any third party without the consent of the Company. The Client does not have the right to change, delete or hide any references to trademarks and copyrights or any other rights presented on the Company's Trading Platform.

11.3 The Client is obliged to keep in secret and not disclose any Data of access to the Trading Platform to any person. The Client is obliged to immediately notify the Company if he suspects that his Access Data may have been disclosed to any unauthorized person.

11.4 The Client is obliged to assist the Company in any investigative activities of the Company that it may carry out in connection with the actual or estimated improper use of its Access Data.

11.5 The Client confirms that the Company will not be responsible if any unauthorized persons gain access to his personal information, which also includes: personal data, email addresses and correspondence, when this information is transferred via the Internet or other network communication means, by telephone or using other electronic means.

11.6 The Client confirms that he is solely responsible for any orders or instructions transferred and provided to the Company on the basis of his Access Data, and that any of the above orders or instructions will be considered to have been received by the Company from the Client.

11.7 If the Company supposes that fraud was committed, manipulative activities, swap-arbitrage or other forms of activities that mislead regarding the account (s) Client of the Company or unauthorized activity otherwise associated with any Trade, it shall have the right to close all Client's open positions and may add or deduct a penalty equivalent to the revenue from exchange and (or) incomes for all Trading operations in real time and (or) previously made on the account. Under the above assumptions, the Company also has the right to terminate all agreements with the Client, cancel all income received as a result of the above, and refuse to accept any future Requests from the Client for exemption from any swaps.

12. Personal data and recording of telephone conversations

12.1 The Company has the right to use, store and process the Client's personal data in connection with the providing of Services to him.

12.2 If the Client is an individual, the Company is obliged to provide the Client with a copy of the document with his personal data at the request of the Client and subject to payment for this service (if any).

12.3 The Client agrees to transfer his data by the Company to any third party for the effective providing of Services, or for execution of any operating function in favor of the Client (for example, refund the Client his money).

12.4 The Client agrees that any telephone conversations between him and the Company may be recorded, and the recordings will remain the exclusive property of the Company and will be accepted by the Client as final proof of his Orders / Requests or any other telephone conversations with the Company. The Client confirms that the Company has the right to provide copies of the transcripts of the above records to any regulatory authority, state authority, or court.

13. Consent to direct contact

13.1 The Client agrees that the Company has the right to contact the Client directly from time to time by telephone or other means of communication for the purpose of marketing its products or financial services.

14. Confidentiality and Refusal

14.1 The information about the Client held by the Company is confidential and therefore cannot be used for any other purpose than for the purpose of providing Services by the Company to the Client. Confidential information requires appropriate treatment, provided that it is not legally owned by the Company and at the time of its receipt by the Company, it was not subject to an obligation of confidentiality or non-disclosure, and also provided that the information is not publicly available. Confidential Information may be disclosed by the Company to a third party only in the following cases:

1) at the request of the courts, law enforcement authorities, regulatory authorities and similar authorities in the jurisdiction of which the Company is located or in accordance with the requirements of the Law.

2) in order to prevent or investigate illegal activities;

3) when the above information is required by the Company for the purpose of requesting or evaluating the loan amount, for identification purposes, for the purposes of related to providing Services, for the purpose of administering the Client's Trading Account;

4) when the above information is necessary for any third party or employees of the Company in connection with the provision of Services to the Client and (or) the execution of their official duties in accordance with Regulatory Documents;

5) when the above information is requested by the Client or any other person with the consent of the Client;

6) when the above information is required by the Company's lawyers, consultants or auditors, provided that in each particular case the relevant specialist is notified of its confidential nature and has assumed the above obligations for non-disclosure of confidential information about the Client transferred to him.

7) when the above information is required for court proceedings between the Client and the Company;

8) when the above information is necessary to resolve a public dispute between the Client and the Company.

15. Nonfulfillment of obligations

15.1 The following events are referred to the ''Cases of Default'':

1) the Client's failure to fulfill any obligation specified in the Regulatory Documents;

2) the Client's failure to submit the Initial and / or Hedged Margin or any other amount payable in accordance with Regulatory Documents;

3) if the Client is a natural person, the initiation of any court proceedings by any third party regarding his bankruptcy;

4) if the Client is a legal entity, the initiation by any third party of any court proceedings concerning its liquidation or for the appointment of a bankruptcy trustee or administrator in respect of the Client and /or any assets of the Client;

5) in cases 3) and 4) of Paragraph 15.1 of the Agreement, if the Client enters into a settlement agreement with its creditors, as well as if any procedural actions are initiated against the Client that are similar to any of the above actions and processes;

6) if any statement or any guarantee issued by the Client in accordance with Paragraph 17 of the Agreement is or becomes false;

7) if the Client is unable to repay the debts owed to the Company at the maturity date;

8) if the Client, being an individual, becomes incapacitated due to a mental disorder or dies;

9) if the Client makes any attempts to perform actions defined by the Company as manipulative, fraud, swap arbitration or other activities that are misleading or fraudulent in nature on any of the Client's accounts opened with the Company;

10) if the Client was trading: which can be classified as market fraud, which can be characterized as excessive trading in order to benefit from price changes in the market without legitimate intentions, through arbitration or relying on price lag;

11) in the event of any circumstances when the Company believes that the preferred solution is to take any measures specified in Paragraph 18.5 of this Agreement;

15.2 In the event of any of the Cases of Default specified in Clause 15.1, the Company has the right to take any of the following measures at any time without providing prior written notice to the Client:

1) to close any or all parts of the Client's Open Positions at the current Quotes;

2) to close any or all parts of the Client's Trading Accounts in the Company;

3) to write off the amounts due to the Company from the Client's Trading Account;

4) to reduce the Balance of the Client's Trading Account by the amount of income received illegally;

5) to refuse in opening a new Trading Account for the Client.

16. Force majeure

16.1 The Company has the right to determine, at its reasonable discretion, whether any Force Majeure Event has occurred. If a Force Majeure event occurs, the Company is obliged to take reasonable measures to notify the Client of this. Force majeure circumstances include, but are not limited to:

1) any events, actions or events that, at the Company's reasonable discretion, do not allow it to properly maintain market conditions for the Instruments, including (but not limited to): wars, strikes, mass and civil unrest, terrorist acts, natural disasters, storms, fires, floods, accidents, force majeure, failures of electronic or communication equipment, power supply failures, supplier failures, actions of state authorities, refusal of the employer to provide work for his subordinates;

2) closing, suspension or liquidation of any market; non-occurrence or cancellation of any of the events on which the Company's Quotes depend; imposition of restrictions, establishment of non-standard or special trading conditions in any of the above markets or in any event specified above.

16.2 If the Company reasonably believes that there is a Force Majeure event, it has the right to take any of the following measures without prior Written notice to the Client and at any time, but without causing damage to other rights arising in accordance with the Regulatory Documents:

1) to increase margin requirements;

2) to close Open Positions at prices that the Company reasonably considers appropriate;

3) to modify, suspend or freeze the application of any terms and conditions of Regulatory Documents to the extent that Force Majeure circumstances prevent or make it impractical for the Company to comply with them;

4) to take any other measures that the Company reasonably considers appropriate in the circumstances of Force Majeure in relation to the situation of the Company, the Client and other clients, or refrain from taking these measures.

17. Refusal to satisfy the claim

17.1 The Company has the right to refuse to satisfy the Client's claim.

17.2 If scheduled technical work has been carried out on the Server and the Company has notified the Client in advance by any means, then claims made by the Client in respect of any unexecuted Orders issued during the period of the above-mentioned work will not be accepted. The fact that the Client has not received the above notification does not serve as a basis for making a claim by the Client.

17.3 The Company will not accept claims based on the difference between the price of the underlying asset of the Contract for Difference and the price of execution of an Order or Order under the Contract for Difference.

17.4 No claims are accepted regarding the time of execution of an Order, regardless of the period of time required for its Execution and regardless of the time when the record of its execution appeared in the server Log File, except in cases when the execution of an Order placed in the queue was not carried out in accordance with the Rules of Trading Operations.

17.5 Claims regarding the cancellation of the financial results of Trading operations that were committed by the Client for additional margin generated in Trading account due to making profitable trades at the quote received by him due to obvious mistake of the Company and subsequently cancelled by the Company, or at non-market quote are not accepted.

17.6 The Client confirms that he will not be able to control open positions or give Orders to open new positions during the period of time when the Disputed Situation in relation to any contested position is under consideration by the Company, and that no claims on this issue will be accepted.

17.7 The Company has the right to cancel any Trading Operation if the relevant hedging trade was canceled by the Liquidity Provider and does not accept claims from the Client in this circumstance.

18. Dispute settlement procedure

18.1 When considering Disputable situations, any references of the Client to quotes of other information systems and companies are not taken into account and are considered illegal.

18.2 The Client confirms and takes all risks associated with the fact that the Company has the right not to notify him that the Dispute has been settled and the disputed position has been restored.

18.3 Following the settlement of the Dispute the Company is entitled to execute the Take Profit order or Stop Loss order contested positions depending on which of these orders would be chronologically, crossed by the price first, if the position was not closed because of a dispute.

18.4 In the event of any conflict situation when the Client reasonably believes that the Company as a result of any acts or omissions violated the provisions of the Regulatory documents, the Client is entitled to declare a claim within five working days after the dispute or conflict situation.

18.5 If the Parties fail to resolve Disputes through negotiation, they shall refer such Disputes to the Court of the Republic of Vanuatu after the application of pre-trial proceedings to resolve such Disputes in accordance with the laws of Vanuatu.

19. Risk recognition and notification of risks

19.1 The Client confirms that he is aware of the materiality of the risk of loss and damage resulting from the purchase or sale of any Instrument and that he takes the above risk upon himself.

20. Applicable law and jurisdiction

20.1 The provisions of the Agreement shall be interpreted in accordance with and regulated by the laws of the Republic of Vanuatu.

20.2 In the event of a Dispute between the parties in connection with the Agreement, the Client unconditionally acknowledges that they will first try to seek settlement of the Dispute in accordance with the Dispute settlement procedure specified in Paragraph 18 of this Agreement.