Last updated: (August 2019)
Thank you for visiting our APP/website. Before you go any further it is important that you read and understand the conditions under which you'll use this APP/website.
1. TERMS AND DEFINITIONS
1.1.The following terms are used in this Agreement with the following meanings:
1.2.The Company: refers to MBA Forex and Capital Investment Limited
1.3.The Investor: refers to any person for the purpose of deriving interest from the company invests/ makes any transaction with the company.
1.4.ROI: refers to Returns On Investment.
1.5.Base Currency - the first currency in the quote Currency pair which is the Underlying Asset of any individual trade.
1.6.Balance - the total amount on Investor's Account after the last trade at the time of a completed trade and transactions to deposit and withdraw funds.
1.7. Quote Currency - the second currency in the currency pair.
1.8.Account Currency - the currency selected by the Investor when he opens an account at the Company or after opening an account.
1.9.Currency Pair - a type of Underlying Asset consisting of two currencies (the Base Currency and the Quote Currency).
1.10.Current Laws, Rules and Regulations - all applicable laws, rules and regulations that are in effect when the trades are made, executed and cancelled in the relevant jurisdiction.
1.11.Commission - the fee charged by the Company for the Investor's carryover at 21:00 GMT and/or for the Investor's opening position.
1.12.Quote - the current Underlying Asset price displayed on the Trading Terminal.
1.13.Force majeure - any of the circumstances listed in clause 16.8 of this Agreement.
1.14.Investment amount - the amount of money in the account currency invested by the Investor into a Trade
1.15.Trade volume - the volume of investments multiplied by the Multiplier.
1.16.Written notice - a written notice is considered a notice sent by the Company to the Investor in the following ways: by e-mail, by commercial courier service, by airmail, through the Company's Website. A written notice sent by the Investor to the Company is deemed a notice if given in thefollowing ways: by email, by fax, by mail, by a commercial courier service.
1.17.Payment confirmation - a message from the Company confirming that a payment has been received.
1.18.Rules - laws, rules, regulations, procedures and standards that are currently in effect.
1.19.Rules in respect to the investor funds - regulations governing actions with respect to the Investor's funds.
1.20.Working Day - any day except Saturdays, Sundays, 1 January and any other public holiday of the country of incorporation of the Company and any international public holiday.
1.21.Registration Form - the form that the Investor fills out for the purpose of receiving Services under this Agreement and with which the Company, among other things, receives data necessary to identify the Investor and verify his/her information.
1.22.Market Order - an Order executed immediately at the best available market price.
1.23.Account (Investor’s account, Trading account) - any personal trading account which the Company opens for the Investor to trade, in which funds transferred by the Investor to make trades are posted; from which the trade amount is debited when a trade is made; and to which income is credited when a trade is closed and the material terms of a trade are met. The Investor has the right to have only one Investor’s account. In case of violation of this rule, the Company has the right to refuse the Investor in further service (rendering of services), to terminate this agreement, and to block further possibility to carry out operations without explanation and without payment of funds from the Investor's account. It is not a violation of this clause of the Agreement when the Company, if possible and unilaterally, grants the Investor the right to use several currencies within the Investor's account, as well as the right to use the Investor's account between the Company and the Investor, which are governed simultaneously by this Agreement and other agreements, agreed between the Company and the Investor, for which the Company has the discretion to grant the Investor the right to use the Investor's account to engage in trading transactions which are not prescribed in this Agreement.
1.24.Authorized Person - any legal entity to which the Company may transfer authority within the framework of this Agreement.
1.25.Services - services provided by the Company under this Agreement.
2.1.These conditions become effective when you access the site for the first time and constitute a binding agreement between us (MBA FOREX and Capital Investment Limited) and yourself, which will always prevail. The current version of these conditions will govern our respective rights and obligations each time you access this site. Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.
2.2. By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service.
3.1. If you wish to invest or purchase any product or service made available through these Terms, you may be asked to supply certain information relevant to your investment/Purchase including, without limitation, your full names, addresses, contact details, phone numbers, email and account details.
4.1. Our Service allows you to post, link, store, share and otherwise make available certain information, text, graphics, videos, or other material.
5.0. PERSONAL DATA
6.0. TRANSMISSION OF INFORMATION
7.0. LINKS TO OTHER WEB SITES
7.1. Our Service may contain links to third-party web sites or services that are not owned or controlled by MBA Forex and Capital Investment Limited.
7.2. While we try to provide links only to reputable websites, we cannot accept responsibility or liability for the information provided on other websites. A link from our site to any other website does not mean that we have scrutinised or endorsed the owners or administrators of the websites or their business or security practices and operations.
7.3. MBA Forex and Capital Investment Limited has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that MBA Forex and Capital Investment Limited shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.
8.0.NO WARRANTIES OR REPRESENTATIONS
8.1. MBA Forex and Capital Investment Limited do not warrant that the site or online services will be error-free or will meet any particular criteria of accuracy, completeness or reliability of information, performance or quality.
8.2. MBA Forex and Capital Investment Limited expressly disclaim all implied warranties, including, without limitation, warranties of merchantability, title, fitness for a particular purpose, non-infringement, compatibility, security and accuracy.
8.3. DISCLAIMER AND LIMITATION OF LIABILITY
8.3.1. Although MBA Forex and Capital Investment Limited have taken care to ensure that the content on this site is accurate and that you suffer no loss or damage as a result of your use of this site, this site and the online services are provided "as is".
8.3.2. Use of this site and the online services is entirely at your own risk. You assume full responsibility for the risk or loss resulting from your use of this site and your reliance on the material and information contained on it.
8.3.3. The Company and our affiliates, shareholders, agents, consultants or employees are not liable for any damages whatsoever relating to your use of this site or the online services or the information contained on this site or your inability to use this site or the online services. This includes, without limitation to any direct, indirect, special, incidental, consequential or punitive damages, whether arising out of contract, statute, delict or otherwise and regardless of whether we were expressly advised of the possibility of such loss or damage.
8.3.4. Without derogating from the generality of the above, MBA Forex and Capital Investment Limited will not be liable for:
8.3.5. Any interruption, malfunction, downtime or other failure of the site or online services, our system, databases or any of its components, for whatever reason;
8.3.6. Any loss or damage arising from your orders, investment decisions, purchases or disposal of goods and services, including financial instrument(s) or currency, from third parties, based on the information provided on this site;
8.3.7. Any loss or damage with regard to customer data or other data directly or indirectly caused by malfunction of our system, third party systems, power failures, unlawful access to or theft of data, computer viruses or destructive code on our system or third party systems; programming defects; negligence on our part or caused by the year 2000 computer problem;
8.3.8. Any interruption, malfunction, downtime or other failure of goods or services provided by third parties, including, without limitation, third party systems;
8.3.9. Any event over which we have no direct control.
9.0.CLAIMS AND DISPUTE RESOLUTION
9.1. MBA Forex and Capital Investment Limited agrees that they will make reasonable effort to settle all disputes between the Company and all parties related to investments, transactions, payments of Returns on Investment, pay outs and other actions hereunder by means of Arbitration/ negotiations.
9.2. If a dispute arises, the investor may submit a claim/complaint to the Company and send a statement or notice to the Company. All claims/complaints/statements/ notices related to transactions performed by the investor must be submitted in accordance with the following requirements:
9.2.1. Claims/complaints/statements/notices must be submitted in writing;
9.2.2. Claims/complaints/statements/notices must contain the following information: Surname, first name, middle name (if any), Investor’s e-mail, Investor’s Account Number, date and time of investment, date/time of the dispute, brief description of the dispute, Investor’s demands; claimed amount and justified calculation thereof (if the claim can be valued in money); circumstances that are the grounds for the claim and evidence supporting those circumstances, including investors investment form (if any), investor transaction receipt, investor account statement (where applicable), reference to the clause of this Agreement (annexes hereto) that were breached in the Investor’s opinion; a list of documents and other evidence attached to the claim (complaint) authenticated by the Investor and any other information necessary to settle the dispute;
9.2.3. Claims /complaints/statements/notices must be sent by the Investor within five (5) business days after the event that was the basis for submission of the relevant claim (complaint).
9.2.4. The Investor agrees that a delay in submission of the claim (complaint) is grounds for refusal to consider it.
9.2.5. Claims/complaints/statements/notices may be sent by e-mail to email@example.com by registered or certified mail.
9.2.6. Claims/ complaints/statements/notices may also be sent by courier service to; Head, Legal Services MBA FOREX And Capital Investment Limited Plot 1245,Ademola Adetokunbo Crescent, Wuse II, FCT, Abuja, Nigeria.
9.3. Claims/complaints/statements/notices must not contain:
9.3.1. An emotional evaluation of the dispute;
9.3.2. Offensive statements addressed to the Company;
9.4. To respond to a claim/complaint/statement/notice, the Company may request additional documents and information from the Investor.
9.5. A claim/complaint/statement/ notice will be reviewed on the basis of data provided by the Investor and log entries from the Company server. Log entries from the Company Server always prevail over other evidence and proof.
9.6. The Company assumes no liability for incomplete trades and will not compensate any financial damages or moral harm suffered by the Investor with respect to what the Investor considers to be lost profit.
9.7. When considering disputes, the Investor’s references to information from other companies and websites are not considered.
9.8. The Company may reject a claim/complaint/statement/notice if the terms of this section are violated.
9.9. The Company must consider a claim/complaint/application/appeal within no more than 10 working days after the submission date. This term does not include time for provision of additional documents by the Investor upon the Company’s request.
9.10. If the Investor’s claim/complaint/statement/notice has not been settled by the Company by the above dispute settlement procedure, the Investor and the company may submit the claim/complaint/statement/notice to arbitration/ Negotiation
9.11. In addition to provision set forth in clauses 9.2 – 9.10 of the dispute resolution procedure, the Investor may file a claim to a court, provided that he/she has first submitted the claim to the Company in accordance with this dispute resolution procedure and all efforts at Arbitration/Negotiation has failed, or proved abortive.
9.12. The claim procedure for dispute resolution will be deemed followed if:
a) the form and content of the claim meet the requirements of clauses ….
b) the claim is sent to the Company’s registration address by registered or certified mail;
c) the Investor has a confirmation of claim receipt by the Company;
d) the deadline for responding to the claim has expired. Claim response time – sixty (60) calendar days after it is received by the Company.
9.13. In case of any disputes, the Company reserves the right to fully or partially block transactions in the Investor's Account until the dispute is settled or until the Parties come to an interim agreement.
9.14. Subject to the relevant service terms, all disputes arising as a result of your use of the site or on the interpretation of these terms or any matter which in terms of the conditions requires agreement by the parties, (other than where an interdict is sought or urgent relief may be obtained from a court of competent jurisdiction), will be submitted to and decided by the company in the manner set out above and further submitted to arbitration where the method employed by the company fails.
9.15. Arbitration will be held with only the parties and their representatives at a location to be decided by both parties.
9.16. The arbitration will be governed by the rules of the Arbitration Law as applicable in Nigeria and will be heard by an arbitrator or arbitrators appointed by both parties.
9.17. Either party will be entitled to have the award made an order of court of competent jurisdiction. The parties will keep the evidence in the arbitration proceedings and any order made by any arbitrator confidential unless otherwise contemplated. The arbitrator will have the power to give default judgment if any party fails to make submissions on due date and/or fails to appear at the arbitration.
10.0. CAPACITY TO ENTER INTO AGREEMENTS
10.1. You hereby warrant to us that you have the required legal capacity to enter into and be bound by contractual terms.
10.2. Minors must be assisted by their legal guardians when reading these conditions. If you are unsure whether you have the legal capacity to enter into agreements, contact someone able to provide you with this information before you continue using this site.
11.0. MODIFICATION/ CHANGES
12.0. TERMINATION, SUSPENSION AND LIMITATION
12.1 We may modify, suspend or discontinue the site, whether temporarily or permanently, without notice. We may also impose limits or conditions on the right to certain services, features or functions and we may restrict access to parts of or all of the services on the site and We may terminate or suspend your access to our Service immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.
12.2 All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation to ownership provisions, warranty disclaimers, indemnity and limitations of liability.
13.0. TERMS AND TERMINATION OF THE AGREEMENT
13.1. This Agreement comes into force when it is made (the Investor's registration on the website or in the Company's trading terminal) and is valid for as long as the website/APP is in use.
13.2. Either Party may terminate this Agreement unilaterally
13.3. The Agreement will be deemed terminated at the initiative of the Company as of the date indicated in the notification sent by the Company to the Investor;
13.4. The Agreement will be deemed terminated at the Investor's initiative 30 (thirty) working/business days after the Company receives the Investor's written notification containing the declaration of termination of the Agreement, provided that the Investor has no outstanding obligations under this Agreement. The Investor must send notification of termination of the Agreement to the Company's address set forth in clause 9.2.6 of the Agreement or to firstname.lastname@example.org
13.5. This Agreement will be deemed terminated in respect to the Parties when the Investor and Company fulfill their mutual obligations on previous transactions and each Party has paid all debts.
13.6. Our address for notices and service of legal process is: Head, Legal Services , MBA FOREX And Capital Investment Limited Plot 1245,Ademola Adetokunbo Crescent, Wuse II, FCT, Abuja, Nigeria.
14.0. THE LAW GOVERNING OUR RELATIONSHIP
14.1. These Terms/conditions will be governed and construed in accordance with the law of the Federal Republic of Nigeria without reference to any conflict of law provisions.
15.0. NO REDISTRIBUTION RIGHTS.
15.1. You agree that you will not redistribute, copy, amend, or commercially exploit any materials found on the Web Site or the Tools without MBA Forex and Capital Investment Limited’s express written permission, which permission may be withheld in MBA Forex and Capital Investment Limited’s sole discretion.
16.0. GENERAL PROVISIONS
16.2. Where any dates or times need to be calculated in terms of the conditions, the international standard time: GMT plus one hours shall be used.
16.3. No failure or delay by us to exercise any of our rights will be construed as a waiver of any such right, whether this is done expressly or implied, nor will it affect the validity of any part these conditions or prejudice our right to take subsequent action against you.
16.4. If any of these terms, conditions or provisions are held to be invalid, unlawful or unenforceable; the term, condition or provision will be deleted from the remaining terms, conditions and provisions which will continue to be valid to the full extent permitted by law.
16.5. Amendments and additions made by the Company to the Agreement and its annexes in connection with the change of laws and regulations governing the subject of this agreement and the rules and agreements of trading systems used by the Company to discharge its obligations under the Agreement come into force simultaneously with the entry into force of the changes in the said documents.
16.6. When amendments and additions made by the Company come into force, they will apply equally to all Investors, including those that entered into the agreement before the effective date of the amendments.
16.7. To ensure that the Investor that entered into the Agreement is familiar with amendments and additions before they come into force, the Investor must visit the Company website or trading platform at least once a week on its own or through authorized persons for information about any amendments and/or additions that have been made.
16.8. By providing the Company with his personal information in any form and in any way (in case of any actions on the Company's website, through the Company's contractors, etc.), the Investor thereby gives the consent to the Company and its partners for automated and unautomated processing of the personal information provided by it for the purpose of performing this Agreement, running advertising campaigns, providing him with advertising, informational, and marketing materials, and information about the Company's offers and events, and for other purposes defined by the Company, including: to take actions to collect, record, systematize, accumulate, store, clarify (update, modify), extract, use, transfer (distribute, grant access to), depersonalize, block, delete, destroy, and transfer personal information across borders. Consent is given for the period of 75 years (or until the expiration of the retention period for the relevant information or documents that contain this information as defined in accordance with the current legislation of the Company's location). Consent is withdrawn in accordance with the legislation by contacting the Company at the location of the Company. Contact information is available on the Company's website. The Company guarantees the confidentiality of personal information provided by the Investor, except in cases established by applicable law and force majeure events including but not limited to wars, earthquakes, natural disasters, flood, and tsunami.
16.9. The Company may fully or partially transfer the rights and obligations under this Agreement and the annexes hereto to a third party if such person undertakes to fulfil the terms hereof. This transfer of rights and obligations does not require prior notification of the Investor by the Company and shall be made at the time the adequate information is published on the Company’s website.
16.10. The Investor may not assign his rights, impose his duties, or carry out any other act of transfer of rights or obligations under this Agreement without having the prior written consent of the Company. If this condition is breached, any such assignment, imposition, or transfer will be considered invalid.
16.11. The Company, its partners, and any other affiliates thereof may have material benefit, a legal relationship, or an agreement in respect to any transaction in the trading platform or in the dashboard, or material benefit, the legal relationship, or an agreement that conflicts with the interests of the Investor. As an example, the Company may:
(a) act as a counterparty in respect to any trading transaction in respect to any financial asset;
(b) propose another partner of the Company as a counterparty in the trading transaction;
c) make recommendations and provide services to its partners or other Investors of the Company in the trading transactions in which they have an interest, even though it conflicts with the interests of the Investor.
16.12. The Investor agrees and grants the Company the authority to act in respect to the Investor and for the Investor as the Company sees fit, notwithstanding possible conflict of interests or the existence of some financial interest in respect to any transaction on the trading terminal or in the dashboard without prior notice to the Investor. The existence of a conflict of interest or financial benefit in respect to any transaction on the trading terminal or dashboard will not affect the Investor service by Company employees. The Company may act on behalf of the Investor from time to time with those with whom the Company or any other affiliated party has an agreement to receive goods or services. The Company guarantees that such agreements are concluded as far as possible in the best interests of the Investor, for example, such agreements allow access to information or other services that would otherwise be inaccessible.
16.13. The Company has the right to prepare and use the texts of the Agreement and its annexes in languages other than English. If there is a contradiction between the text of this Agreement and its annexes in English and the relevant texts in other languages, the English text will prevail. The text of the agreement published on the Company's website will prevail over the text of the Agreement published elsewhere.
If you have any questions or do not understand anything in these conditions please send an email to email@example.com and we will respond to you as soon as possible.