57984c89bf389 (BPI CAP) Account Opening Form and Client Agreement 04-06-2016
57984c89bf389 (BPI CAP) Account Opening Form and Client Agreement 04-06-2016
06
DESIGNATED 3RD PARTY CUSTODIAN / REGISTRY: Philippine Depository & Trust Corp. Bureau of Treasury
Others (Please specify)
By affixing my/our specimen signatures below, I/we and/or the company herein represented agree (singly, jointly, collectively,
hereinafter referred to as the "Client") hereby (i) appoint the BPI Capital Corporation ("BPI Cap") to sell securities (hereinafter
referred to as the "Broker / Selling Agent") in accordance with and under the terms and conditions specified in the Client
Agreement, which the Client read and fully understood after these were explained to him by the Broker / Selling Agent; and (ii)
authorize BPI/BPI Family Bank (BPIFB) / BPI Direct to debit and/or credit the settlement amounts designated herein, as and when
needed to service transactions with the Broker / Selling Agent. This authority shall be valid and continuing unless the Broker /
Selling Agent has received the Client' written revocation thereof. The Client holds the Broker / Selling Agent free and harmless
from whatever claims or damages arising by virtue of their implementation hereof.
-- -- -- --
CA/SA No. FCDU NO.
A. The Signatories named below shall bind the Customer herein represented in all transactions with the Broker / Selling Agent including
among others the payment of funds/transactions on our account and the designation of representatives. This authority shall remain
valid until revoked by the Client in writing.
1.
1. 1.
2. 2. 2.
3. 3. 3.
* PRIMARY INVESTOR: In case of 2 or more individual accountholders, the risk profile of the Primary Investor shall be followed. The Client
Suitability Assessment form signed solely by the Primary Investor shall be binding on all other accountholders.
B. The following representative(s) is/are authorized to transact any and all business for and in the Client’s behalf vis-à-vis the Broker/
Selling Agent.
AUTHORIZED REPRESENTATIVE(S) SPECIMEN SIGNATURE(S) SPECIMEN SIGNATURE(S)
1. 1. 1.
2. 2. 2.
3. 3. 3.
It is clearly agreed that the Broker / Selling Agent has the right to depend on the representations of all the above-named
authorized signatory(ies) and representative(s) and is not duty-bound to ascertain their respective authorities, as the case may
be, by virtue of the designation(s) herein made. In any case, the Client is obliged to immediately inform the Broker / Selling Agent
through a written notice of any change in the name(s) of the duly authorized signatory(ies)/representative(s). Until such time
said notice is sent and properly received by the Broker / Selling Agent, the designation(s) herein shall bind the Client.
Page 1 of 15
6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
Page 2 of 15
6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
1. INTRODUCTION
This Client Agreement sets out the essential terms and conditions that govern the operation of your account.
These terms and conditions are incorporated into and form a part of the contract between you and BPI Capital
Corporation, in its capacity as Broker and/or Selling Agent of fixed income securities (“Broker / Selling Agent”,
“we”, “our”, or “us”). By opening an account with any member bank of the BPI Group, you agree to be bound
by these terms and conditions.
2. PARTIES
This Client Agreement is Executed by and between:
BPI Capital Corporation, an Investment House duly organized and existing under and by virtue of the laws of
the Philippines, duly licensed by the Securities and Exchange Commission (SEC) as a Broker / Selling Agent in
securities, with principal place of business at BPI Building, Ayala Avenue corner Paseo de Roxas, Makati City,
hereinafter referred to as “Broker / Selling Agent”
- and –
________________________________, of legal age, [nationality];
with address indicated in the Account Opening Form, hereinafter referred to jointly as “Client”.
3. AUTHORIZED SIGNATORIES
The person(s) specified by the Client in the Account Opening Form or thereafter notified by the Client to the
Broker / Selling Agent in accordance with this Agreement shall be the Client’s “Authorized Signatory/ies” who
shall have authority to issue Instructions, notices and/or other communications with respect to the opening,
maintenance, and/or operation of Client’s Account.
The Client shall immediately notify the Broker / Selling Agent in writing of any change in the Authorized
Signatory/ies and any change of address or any other information previously provided to the Broker / Selling
Agent, and shall deliver to the Broker / Selling Agent all relevant documents detailing such change(s) as the
Broker / Selling Agent may reasonably request.
(C) Disclosure of Client Information. Information obtained from the Client about his financial situation,
investment experience, and investment objectives regarding the services to be provided by the Broker /
Selling Agent, shall be treated with utmost confidentiality and shall not be disclosed to unauthorized persons
unless required by law, relevant rules, or by lawful order of a court / government agency / quasi-judicial body
of competent jurisdiction.
Such treatment of confidentiality SHALL NOT APPLY to the Securities and Exchange Commission (Commission),
Self-Regulatory Organizations (SRO), Exchanges, clearing agencies, depositories and their authorized
representatives that exercise regulatory and supervisory responsibilities, or to any order issued by the
Commission pursuant to SRC Rule 30.2.9 on Done Through Transactions (DTT).
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
i. THE BROKER / SELLING AGENT AND CLIENT HEREBY AUTHORIZE THE COMMISSION’S DULY
AUTHORIZED REPRESENTATIVES, TO EXAMINE AND REQUIRE THE SUBMISSION OF CLIENT RECORDS,
ACCOUNTS, ORDERS, TRADES, POSITIONS, TRADING ACCOUNT CODES AND THE NAMES OF CLIENTS
CORRESPONDING TO SUCH TRADING ACCOUNT CODES AND ANY OTHER INFORMATION THAT THE
COMMISSION MAY NEED AT ANY TIME.
ii. THE CLIENT HEREBY AUTHORIZES THE BROKER / SELLING AGENT TO SUBMIT AND PROVIDE HIS
FINANCIAL SITUATION, INVESTMENT EXPERIENCE, AND INVESTMENT OBJECTIVES TO THE SELF-
REGULATORY ORGANIZATIONS (SRO), EXCHANGES, CLEARING AGENCIES, DEPOSITORIES AND THEIR
AUTHORIZED REPRESENTATIVES THAT EXERCISE REGULATORY AND SUPERVISORY RESPONSIBILITIES
OVER THE BROKER DEALER, OR TO COMPLY WITH ANY ORDER ISSUED BY THE COMMISSION PURSUANT
TO SRC RULE 30.2.9 ON DONE THROUGH TRANSACTIONS (DTT).
(B) THE BROKER / SELLING AGENT AND CLIENT HEREBY UNDERTAKE TO NOTIFY THE OTHER PROMPTLY IN
THE EVENT OF ANY MATERIAL CHANGE TO THE INFORMATION HEREIN PROVIDED.
(C) THE CLIENT AGREES AND UNDERSTANDS THAT SECURITIES PURCHASED AND/OR HELD IN CUSTODY
UNDER THIS AGREEMENT, EXCEPT FOR LONG-TERM NEGOTIABLE CERTIFICATES OF TIME DEPOSIT, ARE
NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE CORPORATION.
(D) THE CLIENT HEREBY REPRESENTS AND WARRANTS THAT HE HAS THE LEGAL RIGHT AND FULL POWER TO
EXECUTE, DELIVER AND PERFORM THIS AGREEMENT AND ALL NECESSARY ACTIONS HAVE BEEN TAKEN
TO AUTHORIZE THE EXECUTION, DELIVERY AND PERFORMANCE AND ENFORCEMENT OF THE SAME. IF A
CORPORATION, CLIENT REPRESENTS FURTHER THAT IT IS A CORPORATION DULY ORGANIZED, VALIDLY
EXISTING AND IN GOOD STANDING UNDER THE LAWS OF THE PHILIPPINES AND OTHER JURISDICTION
WHERE IT IS CONDUCTING BUSINESS.
THE CLIENT’S EXECUTION AND DELIVERY OF THIS AGREEMENT WILL NOT VIOLATE ANY PROVISIONS,
PERMITS, OR LICENSES OF THE CLIENT AS WELL AS ALL APPLICABLE LAWS OR REGULATIONS. NEITHER
THE EXECUTION / DELIVERY OF THIS AGREEMENT NOR THE PERFORMANCE OF HIS OBLIGATIONS
HEREUNDER WILL BREACH OR RESULT IN DEFAULT OR VIOLATION IN THE PERFORMANCE OR
FULFILLMENT OF ANY OBLIGATION, COVENANT OR CONDITION IN ANY AGREEMENT TO WHICH THE
CLIENT IS A PARTY OR IS BOUND.
____________________________________ __________________________________
Client Signature over Printed Name / Date BPI Capital Representative Signature
over Printed Name/Date
6. PAYMENT OF FEES
The Client agrees that the Broker / Selling Agent’s obligations under the Agreement are conditional upon the
Client paying in full to the Broker / Selling Agent such fee(s) as stipulated by the Broker / Selling Agent from
time to time. The Client hereby authorizes the Broker / Selling Agent to debit or cause the debit of such fees
directly from the Client’s nominated Settlement/Cash Account with a member bank of the Bank of the
Philippine Islands (BPI) Group.
For all purposes, including any legal proceedings, a certificate issued by any officer of the Broker / Selling
Agent as to the sums and liabilities for the time being due or incurred to the Broker / Selling Agent by the
Client shall, in the absence of manifest error, be conclusive evidence thereof against the Client.
7. CLIENT CLASSIFICATION
Broker / Selling Agent classifies and assesses its clients on a best effort basis according to (A) Financial
Sophistication and (B) Risk Tolerance based on information provided by the Client in order to determine the
product that is suitable to the client’s needs, financial situation, and objectives; consistent with the client’s
mandate, risk tolerance and constraints.
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
For a list of product-specific disclosures, please refer to the Product Disclosure Statement in Annex “A”.
(A) Risk of Securities Trading. THE PRICE OF SECURITIES CAN AND DOES FLUCTUATE, SOMETIMES
DRAMATICALLY. THE PRICE OF A SECURITY MAY MOVE UP OR DOWN, AND MAY EVEN BECOME VALUELESS.
IT IS AS LIKELY THAT LOSSES WILL BE INCURRED RATHER THAN PROFIT MADE AS A RESULT OF BUYING AND
SELLING SECURITIES. THIS IS A RISK THAT THE CLIENT IS PREPARED TO ACCEPT.
(B) Investment Risk: Debt and similar securities are not the same as Savings or Time Deposits. The returns
and the principal investment in these products are not insured nor are guaranteed. An investor may suffer
losses and as a result, there is no guarantee that an investor will get back his/her principal investment.
(C) Credit Risk: An investor is directly/solely exposed to the risk of the Issuer (e.g. The Phil. Govt. for Phil
Bonds, the Phil. Corporation who issued the security, etc.) defaulting on its obligations in respect to the
security up to the full amount of the principal subscribed plus interest.
(D) Liquidity Risk: There may be a lack of buyers and sellers to allow the investor to readily buy or sell
investments. This exposes the investor to the risk of having to hold security investments until maturity unless
there is a third party willing to purchase the same.
(E) Volatility/Market Risk: Volatility refers to the degree of unpredictable change over time of a certain
variable such as the price or yield of an investment. The prices of securities fluctuate, sometimes dramatically.
(F) Currency Risks: The profit and loss in transactions in foreign currency-denominated contracts (will be
affected by fluctuations in currency rates where there is a need to convert from the currency denomination of
the contract to another currency.
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
This risk disclosure does not purport to disclose all the risks and other significant aspects of investing in these
securities. The Client should undertake his own research and study on the trading of high risk securities before
commencing any trading activity.
Where:
PDEx Fee
If > 1 year (365 days) tenor = Face Amount * 0.000025
If < 1 year (365 days) tenor = Face Amount * 0.000025 * Actual /365
PDTC Fee
= Face Amount * 0.00001 (Note: PDTC has a ceiling fee of P100)
(C) Ad Hoc Fees. The Broker / Selling Agent shall also charge fees for Other Services, in addition to any broker's
commission or fees that pertain to the purchase and sale of Securities. Fees are on a per security basis and are
in addition to any fees charged by the Registry or Custodian.
(D) The Client agrees that the Broker / Selling Agent’s obligations under the Agreement are conditional upon
the Client paying in full to the Broker / Selling Agent such fee(s) as stipulated by the Broker / Selling Agent
from time to time. The Client hereby authorizes the Broker / Selling Agent to debit such fees directly from the
Client's Settlement Account with any member bank of the BPI Group.
(E) Without prejudice to any other rights under the Agreement, if any of the fees and expenses referred to
herein or incurred or owing pursuant to the Agreement remain outstanding after they have become due and
payable:
(i) The Broker / Selling Agent shall be entitled to debit automatically and/or offset against any account
of the Client with any member bank of the BPI Group in or towards settlement;
(ii) The Broker / Selling Agent shall have a lien over the Securities which shall stand as security for such
fees and expenses with power to sell, by public or private sale on such conditions as the Broker /
Selling Agent thinks fit, any such Securities in or towards settlement and any proceeds of sale may be
applied in or towards payment of the said fees and expenses.
The Broker / Selling Agent’s rights pursuant to this Clause shall be in addition to and not in substitution for any
other rights of a similar nature enjoyed by the Broker / Selling Agent.
(F) The Client accepts and understands that the above fees are subject to change by (a) regulators thru the
issuance of the relevant memorandum, circular, or rule, as the case may be; (b) the Exchange; (c) Self-
Regulatory Organization; (d) third-party service providers such as custodian/depository/registry; (e) and
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
others that may affect the provision of services by the Broker / Selling Agent under this Agreement.
12. PRICES
(A) Any price of any Security quoted by the Broker / Selling Agent in response to any enquiry by the Client is
for reference only and shall not be binding on the Broker / Selling Agent or any of its market information
providers. The Broker / Selling Agent shall be entitled to act on any Instruction for the sale and purchase of
any Security even if the price of such Security has altered to the disadvantage of the Client between the time
of receipt of such Instruction and the time at which the Broker / Selling Agent or its agent completes any such
sale or purchase, as long as the executed price is as favorable as possible under prevailing market conditions.
(B) The Broker / Selling Agent, is understood to be acting as broker/selling agent and as such understood to
quote a selling /buying price similarly acceptable to the Broker / Selling Agent, acting as Principal, and which
price shall be based on market information accordingly received in good faith.
(C) While the Broker / Selling Agent and its market information providers endeavor to ensure the accuracy and
reliability of prices quoted, no guarantee as to their accuracy is given and no liability (whether in tort or
contract or otherwise) is accepted by the Broker / Selling Agent for any loss or damages arising from any
inaccuracies or omissions.
(D) No Client who has obtained quotes of the prices of any Securities from the Broker / Selling Agent shall:
(i) disseminate such quotes (or any part thereof) to any other person;
(ii) use or permit the use of such quotes (or any part thereof) for any illegal purpose;
(iii) use such quotes (or any part thereof) other than for the Client’s own personal use; or
(iv) use such quotes (or any part thereof) in relation to any trading or dealing of Securities otherwise than
through the Broker / Selling Agent.
In the event the Client wishes to sell the security/instrument, the Broker / Selling Agent will not repurchase
the same but may, on a best efforts basis, sell the same on behalf of the Client at prevailing market rates.
(B) Without prejudice to any other provision herein, the Client hereby agrees to hold harmless and fully
indemnify the Broker / Selling Agent and its officers, employees and agents against any and all losses,
liabilities, claims, obligations, damages, taxes, duties, penalties, actions, costs, expenses and disbursements of
any kind and nature whatsoever (including legal fees and expenses) which any of them may reasonably incur
or suffer pursuant to or in connection with:
(i) any act or omission by any of them in the performance of the Client’s obligations hereunder, save
where due solely to the gross negligence or willful fault of the Broker / Selling Agent or any of its
officers, employees or agents; or
(ii) any failure by the Client to observe the provisions of, or perform his obligations under the Agreement.
(C) The Client shall hold the Broker / Selling Agent and its stockholders, Board of Directors, officers and staff
free and harmless from, and shall indemnify them for any liability, obligation, loss, damage, penalty, claim,
suit, action, judgment, expense or disbursement of whatever nature, arising from or in connection with this
Agreement, which the Client may suffer arising out of this Agreement or any sale, transfer, or assignment of
securities/instrument covered by the same, or the enforcement of any of the terms hereof, except to the
extent caused by the willful misconduct or gross negligence of the Broker / Selling Agent.
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
(D) The Client agrees, at his own expense and when requested by the Broker / Selling Agent, to promptly do
and execute, or cause to be done and executed, such acts and documents as may, in the Broker / Selling
Agent’s reasonable opinion, be necessary or desirable to give full effect to all rights, remedies or powers
conferred upon the Broker / Selling Agent hereunder.
(E) The Client confirms that his right to the securities purchased under this Agreement is subject to the receipt
of cleared funds by the Broker / Selling Agent. Payment of securities purchased shall be debited from
good/cleared funds in the Client’s settlement account. All checks/drafts or other instruments delivered to the
Broker / Selling Agent or deposited in the settlement account as payment for the purchase of
securities/instruments are accepted subject to clearing and final payment. If the same is subsequently
returned unpaid, the Client is obligated to return to the Broker / Selling Agent the corresponding Confirmation
Advice or any document confirming payment/investment which shall be considered of no force and effect
from the beginning.
(F) The Broker / Selling Agent is authorized but not obligated to automatically reinvest in the Client’s name
the proceeds of any maturing placement, under such terms or conditions that the Broker / Selling Agent
deems appropriate, unless the Client issues to the Broker / Selling Agent before such maturity a written
investment instruction which specifies acceptable placement terms.
(B) The Client agrees that BPI Capital Corporation as Broker, may perform its duties under this Agreement
through third parties, including any member of the BPI Group, including branches, subsidiaries, or affiliates
engaged in broker functions or other third parties who may be acting as agent or as principal. Neither the
Broker nor such third party is obliged to account to the Client for any commission, fees or other benefits
obtained in connection therewith. In particular, the Client agrees that the Broker may execute the Instructions
through such brokers as it may deem necessary in its sole discretion decide.
16. COMPLAINTS
Any disputes or complaints (with all relevant details) must be made in writing and should be referred in the
first instance to the Broker / Selling Agent’s Customer Experience Unit via email to
[email protected] or via regular / registered mail or personal service to BPI Capital
Corporation, 8/F, BPI Head Office, Ayala Ave. Cor. Paseo De Roxas, Makati City Attention: Customer Support
and if not resolved to the Client’s satisfaction, may be referred formally to the Broker / Selling Agent’s
Compliance Department through thru email at [email protected].
You may also contact us through the BPI Customer Service Hotline: 89-100 for Metro Manila; 1-800-188-89100
for domestic toll-free calls (available to PLDT subscribers); and 63+2+89-10000 for mobile phone and
international access.
The Broker / Selling Agent hereby warrants to act for and on behalf of the Client at all times in the purchase
and sale of financial products/instruments/ securities or in rendering any service under this Agreement, and
only upon receipt of a lawful order, in writing, or oral orders after the same has been confirmed in writing by
the Client, and duly received by the Broker / Selling Agent.
In the event that an order was made or a transaction was entered into by the Broker / Selling Agent for or on
behalf of the Client without the latter’s express directive, confirmation, or affirmation in writing, the Client
shall report the said unauthorized order or transaction pursuant to Section 16 hereof.
18. EVENTS OF DEFAULT AND TERMINATION
(A) Any one of the following events shall constitute an event of default:
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
(i) the Client’s failure to pay any amount payable to the Broker / Selling Agent or submit to the Broker /
Selling Agent any documents or deliver any assets to the Broker / Selling Agent hereunder, when
called upon to do so or on due date;
(ii) breach of this Agreement by the Client;
(iii) the filing of a petition in bankruptcy or the commencement of any analogous proceedings against
any of the Clients;
(iv) the levying of any attachment against the Account or any other accounts maintained with any
member bank of the BPI Group;
(v) any information, declaration representation or warranty made by the Client to the Broker / Selling
Agent in this Agreement being or becoming incorrect or misleading;
(vi) the death of the Client (if the Account is not a joint account); and
(vii) any other matter or event including any regulatory requirements or the nature of the instructions
given by the Client to the Broker / Selling Agent which the Broker / Selling Agent in good faith
believes may expose or lead the Broker / Selling Agent to any actions, claims, proceedings, losses,
damages, costs, expenses or liabilities of whatever nature.
(B) Either the Broker / Selling Agent or the Client shall have the right, at any time upon giving reasonable
notice, to close the Account without assigning any reason therefore. The Broker / Selling Agent shall be
entitled to close the Account without giving reasonable notice to the Client if an event of default set out above
occurs or in the event of exceptional circumstances (such as when the Account is being used for criminal
activities) and also notwithstanding that the Account is in credit.
(C) In the event that the Account is closed and/or this Agreement is terminated in accordance with Section
18(A) above, to the extent permitted under applicable laws and regulations but without any prejudice to any
other rights and remedies the Broker / Selling Agent may have, the Broker / Selling Agent shall be entitled to:
(i) close out all or any open positions held by the Broker / Selling Agent for the Client in any account
with any member bank of the BPI Group;
(ii) to the fullest extent permitted by law, dispose of any securities, collateral or other assets comprising
the Portfolio/Securities; and
(iii) cancel any outstanding Instructions in order to suspend or close the Account, and apply all and any
cash held by the Broker / Selling Agent and/or the proceeds in satisfaction of all or any amounts
owing to the Broker / Selling Agent (including without limitation, amounts due in respect of
settlement, fees, commissions and interest).
(D) The Broker / Selling Agent reserves the right to combine all or any other accounts opened with any
member bank of the BPI Group in the name of the Client and to consolidate the balances in such accounts and
to set off such balances between the Client and the Broker / Selling Agent.
(E) Without prejudice to the foregoing, the Client shall pay to the Broker / Selling Agent on demand any
replacement or other costs which may arise as a consequence of the premature liquidation of the investments
of the Portfolio /Securities provided that such costs are reasonably incurred. The Client irrevocably authorizes
the Broker / Selling Agent to deduct all such costs from the proceeds of the liquidation of the
Portfolio/Securities.
(F) The Client authorizes the Broker / Selling Agent to transfer or appropriate without his prior notice or
consent the balances in any of the nominated deposit accounts held in any of the member bank of the BPI
Group in his name to set off the balances still owing to the Broker / Selling Agent notwithstanding that the
deposit or any part thereof may be subject to a period of notice.
(G) Subject to the provisions of this Agreement and after deduction of all monies and liabilities due by the
Client to the Broker / Selling Agent, the Broker / Selling Agent shall, as soon as practicable, remit the proceeds
of the liquidation of the Portfolio/Securities or, if requested by the Client, return such securities or other
property as from time to time constitute part or whole of the Portfolio/Securities to the order and at the risk
of the Client.
(H) The Client and the Broker / Selling Agent acknowledge that closing the Account, terminating the Broker /
Selling Agent’s services or this Agreement, will not affect the rights and obligations of either party already
accrued and/or incurred prior thereto.
(I) The Broker / Selling Agent shall not in any way be responsible for any diminution of value of the
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
investments/securities or part thereof by reason of termination of this Agreement for whatever reason and
the Client shall in such event bear all losses, penalties or expenses arising from the sale, transfer, disposal or
liquidation of the Portfolio or part thereof.
(J) In order to secure payment of the Client’s obligation under this Agreement, the Client hereby pledges and
grants to the Broker / Selling Agent a continuing lien and security interest in, and right of set-off against, all of
the Client’s right, title and interest in and to the settlement accounts and the securities, including proceeds
thereof, money and other property now or hereafter held by the Broker / Selling Agent. In this regard, the
Broker / Selling Agent shall be entitled to all the rights and remedies of a pledgee and secured creditor under
applicable laws, rules or regulations in effect.
(i) The Client is a natural person. Cooling-off is not applicable to corporations, partnerships, and
associations; and
(ii) The financial transactions covered are financial instruments whose remaining term of is equal to or
beyond one (1) year.
This right shall not apply where there has been a drawdown of a credit facility and the Broker / Selling Agent
shall be able to recover any loss arising from an early withdrawal of a fixed rate term deposit which loss arises
because of a difference in interest rates. This shall be in addition to any reasonable administrative fees
associated with the closure of the term deposit.
Any request to exit an Agreement or Contract must be submitted in writing, signed, and in original form to the
Client’s broker representative.
Provided that, the Broker / Selling Agent shall not be obliged to repurchase the security subject of the exercise
of the Cooling Off period, but shall, on a best efforts basis, sell the same on behalf of the Client at prevailing
market rates.
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6768 Ayala Avenue
Makati City 1226
Philippines
CLIENT AGREEMENT Tel (632) 8185541 to 48
BPI Express Phone 89-100. (632) 89-100
www.bpiexpressonline.com
The Client hereby authorizes the Broker / Selling Agent to debit the Client’s account for any excess of payment
or miscredit, for whatever reason.
All taxes, fees, expenses or charges arising out of this Agreement and/or attendant to the purchase, sale,
transfer or assignment, in whole or in part, of the securities/instruments covered by this Agreement, including
custodianship of the securities, shall be for the Client’s exclusive account.
24. WAIVER
(A) Waiver of any right under this Agreement must be made in writing and signed by the party waiving such
right. The Broker / Selling Agent will not be regarded as having waived any right under this Agreement if it fails
or delays in exercising such right. Any single or partial exercise of any right under this Agreement will not
preclude any further exercise of such right or the exercise of any other rights.
(B) A party who waives any breach of any provision of this Agreement will not be regarded as having waived
any subsequent breach of that provision or any other provision.
(B) The Client shall promptly notify the Broker / Selling Agent, in writing, for any changes in the Client’s
address, residency status or other information indicated in this Agreement and its attachments, including the
Client Information Sheet. All communication whether by courier, facsimile transmission, telephone,
messenger or otherwise sent to the Client’s aforementioned address, which instruction is clearly indicated by
the Client on the face of this Agreement, shall constitute personal delivery to the Client. Following this, all
such communications sent thereto shall be deemed correct, if the Broker / Selling Agent shall not receive any
objection from the Client within twenty four (24) hours from delivery thereof.
The Client acknowledges that he has read the provisions hereof and that he is satisfied, after these terms have
been explained to him by the Broker / Selling Agent representative, that these terms accurately reflect the
Client’s intent and agreement.
____________________________________ ________________
Client Signature over Printed Name Date
Page 11 of 15
ANNEX A
PRODUCT DISCLOSURE STATEMENT
GOVERNMENT SECURITIES (PHP)
· Subject to Withholding Tax, currently at 20%, Brokers Commission, and other Fees &
Charges (see Section 11 of Client Agreement)
· Transactions involving GS are settled on the next banking day after the transaction
(T+1)
PRIVATE SECURITIES
Page 12 of 15
ANNEX A
PRODUCT DISCLOSURE STATEMENT
· Redeemed at par on maturity date.
Corporate · Regular bonds issued by corporations.
Bonds
· Tenor: longer than one (1) year
· Subject to Withholding Tax, currently at 20%, Brokers Commission, and other Fees &
Charges (see Section 11 of Client Agreement)
· Transactions involving GS are settled on the next banking day after the transaction
(T+1)
Page 13 of 15
ANNEX A
PRODUCT DISCLOSURE STATEMENT
Treasury · Bonds issued by the United States Department of the Treasury.
Bonds
(T-bonds) · Tenor: 20-30 years.
· Subject to Brokers Commission, and other Fees & Charges (see Section 11 of Client
Agreement)
· Transactions involving GS are settled on the next banking day after the transaction
(T+1)
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ANNEX A
PRODUCT DISCLOSURE STATEMENT
unit of the base currency.
· Subject to Withholding Tax, currently at 20%, Brokers Commission, and other Fees &
Charges (see Section 11 of Client Agreement)
By signing below, the Client acknowledges that (i) the contents of this Product Disclosure Statement have
been explained to the Client by the Broker / Selling Agent representative; (ii) the Client understood the same,
including the risks involved in investing in these products and (iii) the Client has received a copy of this Product
Disclosure Statement.
____________________________ ________________________
Client Signature over Printed Name Date
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