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1. Parties to the Agreement
This Introducing Broker Agreement("Agreement") is entered into between the Introducing Broker whose name and signature appear at the end of this Agreement("IB") and Land Prime Ltd.("Company"), with a registered address of Glenville Drive, Kingstown, P.O. Box 2744, St. Vincent and the Grenadines.
2. General provisions
2.1. This Agreement sets forth the relationship between the IB and the Company. All the possible interaction, relationship and cooperation between the IB and the Company shall be governed by this Agreement solely.
2.2. In case a situation arises that is not covered by the Agreement, the Company will resolve the matter on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice. The IB agrees that such Company’s decision will be final.
2.3. The Agreement becomes effective as soon as the IB opens an IB account and agrees to the terms of this Agreement by opening such account. The Agreement is deemed valid, signed and functional after the IB account is opened.
2.4. This Agreement does not imply employment. An IB Is under no circumstances a Company’s representative, nor the Company bears any responsibility for IB’s actions (or failure to act).
3. IB rights
IB has a right to:
3.1. Promote the Company’s services, website, promotions, special offers and other relative information.
3.2. Perform any actions compatible with IBs country legislation and business ethics to attract clients.
3.3. Open accounts for Clients using IB’s referral link.
3.4. Receive IB commission for Client’s trades.
3.5. Provide clients with Company’s information, news releases, updates, etc.
4. IB obligations
IB is obliged to:
4.1. Perform his/her activities in full compliance with his/her local and international legislation.
4.2. Inform the Company immediately of any interference with his/her activities.
4.3. Put forth maximal effort into acquiring clients to the Company.
4.4. Save confidentiality regarding any information which becomes available to the IB.
4.5. Inform the Company of any facts or circumstances, which might lead to any potential risks to the Company in case an IB becomes aware of them.
4.6. Let a client know about the risks of forex trading and CFDs prior to opening a live account.
4.7. Inform each potential client of his/her IB status and privileges prior to entering any agreements of relationship.
4.8. Inform the Company immediately of any changes in the IB’s contact information.
5. IB restrictions
IB is prohibited to:
5.1. Use any dishonest or fraudulent advertizing and trading means to promote the Company’s services. Such may include (but not limited to):
5.1.1. APS (Active Promotion Systems);
5.1.2. Advertise on indecent (including pornographic) websites;
5.1.3. Advertise on websites, not complying to the IB’s country legislation;
5.1.4. Spam and spamdexing;
5.1.5. Advertise containing misleading or distorted services description, or failure to explain the risks and services to the customers;
5.1.6. Any other activities which might harm the Company’s positive image;
5.1.7. Any other ways of fraudulent advertisement and trading;
5.2. Register and/or use domains containing Company’s name or branding or other subjects of intellectual property.
5.3. Incorporate and/or use a legal entity containing Company’s name or branding or other subjects of intellectual property.
5.4. Act as a Company representative.
5.5. Use the Company’s URL directly in any PPC systems (Google, Yahoo!, Live, etc) as well as his/her referral link. Redirects or any other ways of forced (fraudulent) attracting customers to Company’s website are also prohibited.
5.6. Assume any responsibility on behalf of the Company or place the Company under any obligations.
5.7. Open live or demo accounts or register in Land-FX Personal Area on behalf of the Client, save, store or disclose Client’s access data or any Client’s personal information.
5.8. Provide any advice for the Client regarding trading strategies, or in any other way influence the clients’ decisions. The Company bears no responsibility for the consequences of such advices.
5.9. Publish or participate, or cooperate in publishing any materials in mass media; issue any newsletters, or assist in issuing or creating any content in newspapers, magazines or other mass media, blogs, Internet forums, social networks, etc, which may harm the positive image of the Company.
5.10. Undertake any commitments in the name of the Company, or bind the Company with any commitments.
5.11. Provide any guarantees and/or promises, make any statements regarding any payouts or any agreements set by the Company.
5.12. In case of a lawsuit(s) filed against the Company due to the IB’s breach of the terms and conditions of these Regulations (including unauthorized actions or statements made by the IB), the IB shall be held liable for all losses incurred by the company. Losses shall be understood as expenses the Company has incurred or will incur restoring its rights and interests (real losses), as well as the revenue the Company would have earned under normal business conditions (lost profit), damage of property interests or the Company’s business reputation as a result of the IB’s failure to fulfill its obligations. The IB has no right to dispute the amount the Company claims for damages.
5.13. In case an IB breaches the terms and conditions of the Agreement (fully or partially), the Company reserves the right to block the IB’s accounts (whether IB or real) and exclude Clients from the IB’s client list until the IB compensates the losses suffered from the breach of the Agreement. The Company is entitled to charge the losses inflicted by the IB with money payable to the IB under the IB Agreement and also under the Client Agreement and its corresponding regulations.
5.14. IB him- or herself, his relatives or any other affiliated parties cannot act as the Clients of an IB. Should any data of the IB match the data of any Client (such as passport data, address, birth date,
telephone, email, IP addresses, etc.), the Client’s login shall be removed from the IB’s client list and compensation based on this Client will not be paid. Accounts that share a same IP address MAY be considered as one active account. Should the IP address of a Client be the same as that of the IB, they MAY be considered affiliated and compensation on the account will not be paid. Such behavior shall be deemed “Auto-referral activity“.
5.15. In case a Client(s) file any complaints against the activities of an IB, the IB shall independently address all such complaints.
6. IB compensation
6.1. The Company pays commission based on trading of clients attracted by the IB as Appendix 1.
6.2. The commission shall be paid once in every month for each client’s trading with limitations applicable as described further in the Agreement. But the date of payment can be changed.
6.3. The IB commission shall be paid to IB account at Land-FX only and paid to IB's trading account monthly. An IB cannot claim to receive any other kind of compensation
6.4. IB commission shall be paid to his IB account is US Dollars only regardless of the currencies of his referral accounts.
6.5. The IB acknowledges that the fact of the IB commission conditions can be changed according to Company's policy.
6.6. The following client orders SHALL NOT be qualified as valid and SHALL NOT BE PAID FOR:
6.6.1. Unfair or fraudulent trading and any trading abusing Company's policy(but not limited to);
6.6.2. In case the fact that an IB uses any fraudulent acquisition method is revealed;
6.6.3. In case customer cause Company any harm using any abnormal method.
7. Company rights
Company reserves a right to:
7.1. Perform control over the IB’s activities under the provisions of the Agreement.
7.2. Request a detailed report from the IB on the latter’s fulfillment of the provisions of the Agreement.
7.3. Void the Agreement in case the IB fails to attract 5 active clients within 90 days since registration.
7.4. Void the Agreement in case the IB’s clients’ total deposits are lower than 1,000 USD within 3 months.
7.5. Exclude client(s) from the IB’s referrals (clients) list.
7.6. Modify commission and payout conditions. Such modifications are subject to prior written notification.
7.7. Inform the clients, registered under an IB, that the IB receives commission for their trades (without disclosing any IB data such as any personal information and/or information related to the amount of commission earned/paid out).
7.8. Void the Agreement in case of the IB’s failure to meet its provisions.
7.9. In case an IB uses fraudulent customer acquisition methods or customer(s) use any fraudulent methods, the Company reserves a right to void the Agreement and cancel (partially or completely) the IB commission. All the IB’s clients in this case become direct clients of the Company.
7.10. In case the IB commission amount from single client exceeds 30% of the total IB commission, the Company reserves a right to cancel such compensation.
8. Company obligations.
Company is obliged to:
8.1. Provide the IB with all the necessary assistance to fulfill the obligations set forth in the Agreement.
8.2. Pay out IB commission under the conditions of the Agreement.
8.3. Provide the full range of Company’s services as stated in the Customer Agreement for the clients attracted by an IB.
8.4. Provide execution for IB clients’ orders and corresponding calculations for the IB Account. The Company, however, does not provide statements of client transactions.
9. Limitation of liability
Under no circumstances shall the company be liable or bear any responsibility for IB’s actions, failure to act or any consequences thereof.
10. Force Majeure
10.1. Neither Party hereof shall be held liable for the complete or partial failure to fulfill its obligations should this failure result from a force majeure event or circumstance (including but not limited to fire, earthquake and other natural disasters, war or other military operations, blockades, acts of God, government regulations and other extraordinary and unavoidable circumstances beyond either Party’s control).
10.2. The Party for whom it becomes impossible to fulfill its obligations is obliged to inform the other Party through written notification of the onset, estimated duration and cessation of the above-mentioned circumstances within five business days from the moment of their onset and cessation.
10.3. The facts set out in the notification should be confirmed by a competent authority or organization of the respective country. The delay or absence of notification by the Party concerned deprives said party of the right to cite any of the above-mentioned circumstances as grounds for release from responsibility for the failure to fulfill its obligations.
10.4. Should the inability to either completely or partially fulfill obligations last more than three months, the Agreement will automatically be terminated.
11. Acceptance
Upon acceptance of the Agreement, the IB confirms that:
11.1. IB is familiar with the terms and conditions of the Agreement;
11.2. IB completely understands and agrees to all terms and conditions set forth by the Agreement;
11.3. No circumstances might prevent the adoption of the Agreement.
12. Miscellaneous
12.1. Written notification in the Agreement denotes one of the following means of communication:
12.1.1. Email;
12.1.2. webpage at the Company’s website;
12.2. The IB agrees that the Company may use the IB’s contact information, such as address, email and other personal information to send the IB letters and proposals.
12.3. Any correspondence (documents, announcements, notifications, confirmations, statements and etc.) shall be deemed received by the IB:
12.3.1. One hour after being sent by email;
12.3.2. One hour after the announcement is posted on the webpage at the Company’s website;
12.4. IB shall unconditionally and under all circumstances, without exception, act solely on behalf of his/her own. Conducting any business under the name of the Company is a violation of the Agreement and will lead to immediate termination of the Agreement and the cancellation of any commission payable to the IB.
12.5 In case you do not agree to be bound by the terms of this Agreement, please DO NOT USE OR ACCESS OR TRY any of Land-FX services whatsoever.
