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Terms & Conditions

Introduction 

The customer hereby declares that in order to be able to trade online via the website (www.hcestox.com) or the (Price Screen) program he must sign and accept all conditions and provisions of the e-Trading Contract. He shall after comply after entering the website or the said program by entering the username, the password and any other data that the company requires. The company may request adding some new data after notifying the customer of the foregoing.


Terms of Contract 


The customer hereby declares the following :


*  That he is fully knowledgeable and aware of all terms and provisions of this contract and that he shall comply with them all.


*  That he will not be permitted to trade via the company online except after fulfilling and signing the account opening contract that authorizes the company to open a trade account in the name of the customer.


That the username and the password that allows the customer to enter the website of the company or the Price Screen Program (Mist Desktop) online are confidential data which the customer must ensure that they are not obtained by any person as he shall be fully responsible for them. If they are obtained by any person even by mistake, the customer shall be exclusively responsible for any damage that may occur to him. In such case, the company shall not be responsible for any fraud or error resulting from the loss of such data or their use by any other person, even if it was not the customer or one of its mandataries.


 * That he will notify the company as soon as his username or the password is lost or if he gains knowledge that they were obtained by third party. In such case, he shall be fully responsible for any damage that he may sustain till the time of the notice.


That the company shall deal with any instructions that it receives from the customer through the “Online Trading” via his private account as if sent by the customer as long as the “Online Trading” was accessed using the customer’s username and password. The company shall be restricted to such instructions within the scope of not exceeding any limits of competency laid down for the “Online Trading” by the customer, by the company or by the Egyptian Financial Supervisory Authority.


*  That he shall be solely responsible for any instructions sent through the “Online Trading” including any errors, omission or repetition in the instructions of the customer by the foregoing.


*  That the company or any party authorized by it shall be entitled to assume that the customer’s instructions are free from errors and that it or any party authorized by it may proceed in light of the customer’s instructions if they include sufficient information for the company or any party authorized by it to start implementing the order as long as it is within the limits of competency of the customer and as long as the balance of his account covers all expenses.


*  That he has read “The Online Risk Statement” listed on the e-Trading Contract, accepts it and is aware of all risks related to the systems of entering via the Internet, including the probable risk of hacking the customer’s secret transactions, the probability of the intervention of third party and any other security risks described in the e-Trading Contract. 


*  That the company shall not be responsible towards the customer for any damage that he sustains as a result of using the online trading whenever the reasons for this damage are totally or partially attributable to third party.


*  That in order for him to trade online, his cash account must permit the purchase, or that he would be among the margin trading customers and acquire a purchasing power that permits the purchase in case of purchase, and a securities account that permits sale in case of sale.


*  That the company shall not operate in any consulting capacity and consequently will not provide consulting services with regards to the trading transactions, that the decision on selling or purchasing any securities is attributed to the customer solely and that his decision shall be independent and attributed his personal will only and is not based on any recommendation from the company.


*  That although the investment in securities involves the probability of gain, yet it bears the risk of loss that may include the loss of the whole investment amount of the customer.


* That under specific circumstances in the market, it may become hard or impossible to settle or liquidate his portfolio.


* That the company upon implementing the trading transactions, it does not endorse under any circumstance his investment decision, that it is not the duty of the company to provide any suggestion in connection with approving such sale or purchase and that it does not support or recommend any consulting advice mentioned in any consulting reports on investment, whether issued by the company or third party.


*  That he may not be able to implement his order for reasons, among which for example without limitation the nonconformity of the price to the minimum and maximum line of trading and suspending the trade of the share by the management of the Stock-Exchange.


*  That the company may add other appendices or introduce other amendments into this contract such as additional terms and provisions, provided that the customer would be furnished with them in advance; as long as such appendices or amendments conform to the provisions of the laws in force.


That if the customer purchases and sells on the same day using the advantage of settling in cash a rate of the value of securities purchased, he shall be obligated to sell on the same day or settle the remaining value of the securities purchased; otherwise, the company shall be entitled to settle the indebtedness by sale within the last 30 minutes of the session.


That the company shall be entitled to reject any trading transaction that does not conform to the terms of this contract.


*  That before sending any instructions, the customer must ensure that all information mentioned in the instructions are correct; for example without limitation (1) the name of the security, (2) the quantity of securities to be traded, (3) the determined price or the market price by virtue of which the customer desires the order to be implemented ... etc.


* That the company may keep e-files for all instructions that it receives from the customer via the online trading.


*  That all trading transactions implemented via the online trading are considered binding to the customer and that the outcome of selling the security will not be delivered to the customer except after the lapse of the settlement period.


*  That the company shall be entitled to reject the implementation of any trading transaction if – according to the assessment of the company – the credit balance in the cash account is insufficient or will become insufficient on the day of completing this trading transaction, and that if the company believes at any time that the customer needs to protect himself, it may according to its discretion ask the customer to deposit any cash amount to achieve such protection.


*  That the customer shall be prohibited from issuing any orders that involve imaginary speculation or that attempts to deliberately affect the trading prices of securities in breach to the laws and rules in force pertaining to the rules of trading and listing on the Stock-Exchange.


Statement of Internet risks :


The customer hereby declares that he accepts all risks involved in using the Internet to implement the trading transactions and their relevant information communications. Such risks involve for example with limitation the following categories of general risks :

*  The hacking of third party including the interception of messages or sending them by imposters, such as the ability of some persons to survey websites without tampering with them or accessing such websites and tampering with them and introducing programs and systems including computer viruses, computer meddling and infiltration programs and the like that could intertwine with or damage the communications or cause damage to the customer’s computer system whether devices or programs.


*  The breakdown of the communications network including the occurrence of intermittent malfunction, delay or disconnection that could lead to not implementing the trading and banking transactions then and by the required speed.


*  The internal violation of the customer’s computer system by its employees (in case the customer is a juristic person) and other mandatary users (in all cases).


*  The negligence in dealing with sensitive information by persons who use the customer’s computer system, the data stored in it or that are printed or in using another method to extract them from it.


*  The possible exposition of the encryption systems to the means of intervention by irrational force and other types of attacks.


*  Any other risks resulting from using the Internet.


The customer hereby declares that the security technique and the methods of complicating the means by which persons are able to hack and access websites and tamper with them, other third party and those who seek intercepting or hacking the online communications are growing tremendously by time and that it might be essential to follow up updating the security technique and procedures continuously and improve the online communications and the banking transactions implemented via the Internet.


The customer hereby declares that the firewalls, the encrypting systems, the passwords and the other access control mechanisms to minimize the risks of using the Internet in communications and in implementing the transactions are provided. He also declares that each one of  these safe mechanisms shall only be powerful by the amount of force of the weakest link in the system and that implementing, following up, updating and applying the internal security rules must be carried out in an appropriate manner to guarantee the maximum effectiveness from such systems.


The customer hereby declares that the number of persons who are granted different levels to access the e-Trading system (actual and logical access) with regards to computer systems must be kept at the lowest level required to operate the computer systems effectively.