TERMS AND CONDITIONS

“You are advised to thoroughly consider your investment objectives, the risks expenses and charges involved in Investing in the Nigerian stock market. Kindly note that the same manner profits is made in the market, losses can also be incurred. A good knowledge of the market is required before actively investing in the stock market. Please carefully read through the resources available on the LeadTrader’s website which will educate you on how to maximize profits in the stock market”.

Trading volumes, Market volatility and system performance and other factors may delay system access and response times. Price, Execution speed and liquidity are affected by many factors, including market volatility, size and type of order.

Please read these Terms and conditions carefully. You are required to read and understand them before proceeding on this website or this product. If you do not accept these terms, please do not use this website or the services provided by us as described on this website.

By ordering this service, you are agreeing to our terms and conditions.

ACCOUNT OPENING

Every client must fill an account opening form with the requisite documents from our website www.leadtraderng.org. Every client would be required to provide valid means of identification such as utility bill, drivers’ license and /or international passport. Lead Securities and Investment shall not be liable for the integrity of any of the documents provided.

Active bank account details must be provided.

In the event that the client wishes to change any significant information (such as address, phone number, email address e.t.c.) with which the account was opened, he must supply the new details through the platform and by mail to custormerservice@leadcapitalng.com

The name the client utilizes in opening the account must correspond with the name in the bank details provided. Clients may open account by moving stocks from another house to Lead Securities & Investment Limited However, the responsibility for moving those accounts would rest solely on the client. Upon filling this form and submission of same, subject to verification by Lead Securities & Investment Limited, log in details including a temporary password shall be sent to the email address provided on the Account Opening Form. The client is required to change the temporary password provided by providing a permanent password. Lead Securities & Investment Limited shall not be liable for any errors/omissions or loss arising in the process of forwarding the login details including the temporary password to the client, or where the password is received by an un-intended recipient, PROVIDED THAT Lead Securities & Investment Limited sends the login details to the email address provided by the client on the Account Opening Form.

Clients agree to take responsibility for protecting and ensuring the safety of their user login profile (userId and password) at all times. Registration for LeadTrader is for a single user only. Clients must not permit other persons to use their login profile nor disclose their detail to third parties. Lead Investments & Securities Limited shall not be liable for any losses arising from unauthorized access to, or use of the clients account arising from Client’s negligence or failure to safeguard and protect their login details or any other client information protection device provided by Lead Securities & Investment Limited to facilitate confidentiality, integrity, and accuracy of client’s data and online transactions.

CUSTOMER DECLARATION

YOUR AGREEMENT WITH US: By signing below I am; (i) applying to Lead Securities & Investment Limited for the opening of a stock broking account; (ii) confirming that all details supplied are true and complete; (iii) I shall be solely responsible for all orders entered including but not limited to trade qualifiers, the number of trades entered, the suitability of any trade(s), investment strategies, and risks associated with each trade and Lead Securities & Investment Limited and its officers, directors, employees, agents and affiliates shall have no liability financial or otherwise or expense which shall include but not be limited to attorneys’ fees and disbursements as incurred as a result of any losses or damages in respect of any such decisions, instructions, transactions or strategies employed; ; (iv) in the case of Sub-broker relationship, I hereby absolve Lead Securities & Investment Limited of any liabilities on  transaction(s) that has occurred with the sub-broker or anomalies in cash balance prior to on-boarding to Lead Securities & Investment Limited; (v) agreeing to be bound by the terms and conditions governing the operation for the account as set hereinafter.

ACCOUNT OPERATIONS

Clients shall fund their account for trading purposes by paying value into all designated banks and /or through e-payment modules on the website.

Unexecuted mandates without price limits would be carried forward until filled except client objects through the appropriate transaction medium.

  • All Mandates must come in through the web- enabled jobbing book, registered email address.
  • Clients would bear all the charges involved in all online payments.
  • Clients are responsible for initiating payment request through transaction medium.
  • Payment from client accounts would be done electronically to the clients bank account provided.
  • Payments cannot be made to 3rd parties but only to the clients bank account provided.
  • This retail service will not permit other encumbrances such as moving account to Lead Securities & Investment Limited or changing of address in registrar, following up on missing certificates or dividend warrants.

REGULATORY COMPLIANCES

Dealings with clients and agents on the LeadTrader platform would be in strict compliance with the policies, codes, conducts, ethics and regulations of the Securities & Exchange Commission (SEC) and Nigerian Stock Exchange (NSE).

INFORMATION TECHNOLOGY

Access to and use of this website is at the users own risk and Lead Securities & Investment Limited do not represent or warrant that the use of this site or any material downloaded from it will not cause damage to property, including but not limited to loss of data or computer virus infection.

Price may fluctuate at entry and execution points.

Third party payment card cannot be used to fund Client’s account.

Lead Securities & Investment Limited would not be responsible for any loss, omission, which may arise due to Information Technology or network downtime.

Whilst Lead Securities & Investment Limited will exercise due skill and diligence and ensure that the system operates as advertised. We make no guarantees that our fully automated systems will correctly carry out all the functions they were set up to carry out.

While we will use every reasonable endeavor to ensure the integrity and security of the server, we do not guarantee that the server will be free from unauthorized users or hackers and we shall be under no liability for non-receipt or misrouting of email or for any other failure of email.

Clients’ access to LeadTrader may be suspended at any time without notice to maintain the integrity of this service or in instances of system maintenance or failure, or for any reason beyond Lead Securities & Investment Limited control. Lead Securities & Investment Limited also reserves the right to temporarily or permanently change, modify, or discontinue this service at any time without notice. Client agrees that Lead Securities & Investment Limited will not be liable to Client or any third party for the exercise of these rights of suspension, modification or discontinuation.

ACCOUNT CLOSURE

Clients can terminate their contract with Lead Securities & Investment Limited either through an inter member transfer to another brokerage house or through outright sales.

DISCLAIMER

Lead Securities & Investment Limited will not be responsible for the eccentricities and fluctuations of the stock market and the consequent diminution in the value of the holdings of clients. Lead Securities & Investment Limited expressly disclaims all and provides no representations or warranties in respect of this website, its contents and the services provided by us. We do not represent or warrant that the information accessible on or via this website is accurate, complete or current.

SEVERABILITY

If any provision or part of a provision of these terms and agreement of these terms and conditions are found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force. If any invalid, unenforceable or illegal provision would be valid enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.

COPYRIGHT

Copyright LeadTrader 2014. All rights reserved. Copyright in the pages and the screens displaying the pages and in the information and material therein and their arrangement is owned by Lead Securities & Investment Limited unless otherwise indicated.

The LeadTrader network and all other designs and software applications deployed on this website and for the use of this product are copyrighted material under the laws of NIGERIA and international treaty provisions. These applications regardless of the form or medium in which the original or copies may exist are the sole and exclusive property of Lead Securities & Investment Limited. These applications including the source and object codes, logic and structure, constitute valuable trade secrets of Lead Securities and Investment Limited. Lead Securities & Investment Limited may in its sole discretion change, terminate, suspend or discontinue any aspect of the application, including but not limited to contents, features, or hours of availability.

TRADEMARK

The trademarks, service marks, logos, trade dress, URLs and domain names appearing on this site are the property of Leads Securities & Investment Limited its affiliates or other third parties who have given Lead Securities & Investment Limited license to use the marks. You may not use, copy, download or display any of the marks without the consent of Lead Securities & Investment Limited first sought and obtained.

INDEMNITY

The Client hereby agrees to indemnify and to keep Lead Securities & Investment Limited fully and effectively indemnified against any action, liability, cost, claim, loss, damage, proceeding or expense (including legal fees, costs and expenses on a full indemnity basis) suffered or incurred by Lead Securities &Investment Limited arising from or which is directly or indirectly related to the content herein.

MODIFICATION

Lead Securities & Investment Limited reserves the right and discretion to change at any time without prior warning or notice any information or material contained on the LeadTrader website and is entitled to from time to time amend the Terms and Conditions under which the LeadTrader Website is used without prior notice to the Client. If the Client continues to access to the LeadTrader Website after such modification, the Client is deemed to have agreed to be bound by such modified information, material, and Terms and Conditions.

CONFIDENTIALITY

The Client hereby agrees that Lead Securities and Investment Limited shall not be under any obligation of confidentiality to the Client regarding any such information or material submitted to it using the LeadTrader Website unless agreed otherwise in a separate direct contract between the Client and Lead Securities & Investment Limited or required by applicable laws.

Lead Fixed Income Fund – Terms and Condition

These terms and conditions shall apply to the operation of all Lead Asset Management Accounts (the Accounts) and form an integral part of the Agreement with the client.

  1. Account Opening

The client has irrevocably requested and Lead Asset Management has agreed to open an Investment Account (the Account) on behalf of the client.

  1. Authenticity of Instruments

I/We agree to assume full responsibility for the genuineness, correctness and validity of all endorsement appearing on all cheques, orders, bills, notes, negotiable instruments, share warrants, receipts and other documents deposited for investment purposes

  1. Safe Operation of Account

The client agrees to safely operate the account.

The client agrees to assume full responsibility and ensure safe custody of all print and electronic correspondence issued to/or by Lead Asset Management regarding the account.

The client agrees to notify Lead Asset Management immediately whenever he/she knows or has any reason to suspect that an unauthorized person has access to any print or electronic correspondence issued to or by Lead Asset Management regarding the account

The client agrees to indemnify Lead Asset Management against any loss.

  1. Instructions

The client authorizes Lead Asset Management to honor all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client.

  1. Instructions

The client authorizes Lead Asset Management to honour all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client. 5.0 Third-Party enquiries The client agrees and authorizes Lead Asset Management without reservation to make third-party enquires about his/her person and business now or at any time in the future prior to considering any request of the client for investment services or credit facilities. The client agrees and authorizes Lead Asset Management without reservation to make third-party enquiries about him/her person and business now or at any time in future in order to satisfy all required Know your Customer (“KYC”) obligations statutorily imposed from time to time on Financial Institutions in the Federal Republic of Nigeria.

  1. Variation
    1. The client agrees that Lead Asset Management in its sole discretion may at any time suspend or vary the terms and conditions of the operation of the Account. Lead Asset Management will however promptly notify the client of any suspension of service, changes regarding the operation of the Account of applicable charges and tarrifs payable by the client.
  2. Law

These terms and conditions agreed between the client and Lead Asset Management shall be read and interpreted in accordance with the laws of the Federal Republic of Nigeria.

  1. Termination

It is agreed that Lead Asset Management shall terminate the operation of the Account upon receipt of the client’s written instruction. Either the client or Lead Asset Management Asset Management may terminate the operation of the Account upon receipt of 72 hours prior written notice.

  1. Data

The client agrees that Lead Asset Management may use the information disclosed to it by the client in connection or as a result of operating the Account (Data) for assessment and analysis and to identify products and services (including those supplied by third parties) which may be relevant to the client. We may disclose data: a) To credit reference agencies, any person who may assume our rights under this Agreement, a member of FBN Holdings Group, or

b) If we have a right or duty to disclose or are compelled to do so by law.

  1. Contact details

The client agrees that Lead Asset Management will use the address and any other details given on the Account opening documentation to contact the client. The client agrees to immediately inform Lead Asset Management of any changes or additions to those details. All notices and correspondence required to be provided by Lead Asset Management to the client will be forwarded to that address until Lead Asset Management receives a written notification of the clients change of address this should be renumbered to Clause 12.0, and a new Clause 11.0 inserted as follows:

  1. Fees and Charges

The client agrees that Lead Asset Management shall set-off against the account any pre-advised charge(s), tariff(s), deductions or costs associated with the operation of the account by the client.

  1. Operation of Account
    1. 1 The client agrees that the operation of the account is subject to compliance by Lead Asset Management with all laws, regulations, administrative rules and orders which may from time to time be authorized by the Federal Government of Nigeria and/or any other regulatory authorities in Nigeria.
    2. 2 In consideration of Lead Asset Management allowing the client to operate the account from time to time, the client hereby undertakes to hold Lead Asset Management harmless and keep Lead Asset Management indemnified from all losses, costs, or damages Lead Asset Management may sustain or be put to.
    3. 3 The client agrees that Lead Asset Management is under no obligation to honour any withdrawal order on the account unless there are sufficient funds in the account to cover the value of the said withdrawal thereby rendering such instruction or order invalid and of no effect.
    4. 4 The client agrees that Lead Asset Management will accept no liability whatsoever for funds handed to members of its staff outside office hours or outside the Lead Asset Management office premises, except those officers have been pre-authorized by Lead Asset Management. Lead Asset Management shall from time to time communicate in writing to the client the names of officers authorized to receive funds on its behalf.
    5. 5 The client agrees that in the absence of clear disposal instruction, the invested principal amount and interest/income at maturity will be liquidated and Lead Asset Management may at its discretion hold the funds in a non-interest bearing account pending further instructions from the client.
    6. 6 The client agrees that Lead Asset Management shall not be liable for any loss or damages sustained by him/her by reason of the operation of the investment provided such loss or damages was not caused or facilitated by Lead Asset Management or any of its staff action on its instruction.
  2. Indemnity for Third-Party Instruments

The client agrees that in consideration of Lead Asset Management issuing or accepting third-party Bank cheques, Bank drafts and/or other negotiable instruments from time to time, the client hereby irrevocably undertakes to fully indemnify Lead Asset Management against all losses, expenses, costs, damages or otherwise, that may occur as a result of the issuance or acceptance of the said third-party cheques, draft and/or negotiable instrument.

  1. Right of Set-off

The client agrees that in addition to any general lien or similar right to which Lead Asset Management may be entitled by law, Lead Asset Management may at any time and without prior notice to the client combine or consolidate all or any of the client’s accounts without liabilities to Lead Asset Management or any other account or in any other respect whether such liabilities be actual or contingent, primary or collateral and several or joint.

  1. Investment Risk Warning

1 The client agrees that Lead Asset Management shall have no responsibility or any liability to the client for any diminution of the client’s investment due to any future governmental order, levy, law, tax, embargo, moratorium or imposts or depreciation in value of funds due to inflation or the unavailability of funds due to exchange restrictions on convertibility, requisitions, involuntary transfers, seizure of any character, exercise of military or usurped powers, or other similar causes beyound the control of Lead Asset Management and that any or all funds standing to the credit of the account will be payable only in such local currencies as may then be as in circulation in the Federal Republic of Nigeria.

2 The Client by entering into this agreement hereby understands the risks inherent in investments of this nature and that the value of investments may fall as well as rise and the past performance of investments is not a guide to future performance

  1. Acceptable funds transfer Instructions

The client agrees that all instructions on the account shall be duly signed according to the account mandate. The client hereby acknowledges that the use of facsimile, untested telexes, photocopied letters, electronic mails (on the letter head or otherwise) or other unsecured means of communication to convey instructions for funds transfers of any other such instructions not backed by a duly signed original letter from the client, whatever the case may be, is associated with additional risks of fraud exposure. The client shall execute an indemnity form in consideration of Lead Asset Management agreeing to accept and act upon any such instructions, communication and documents by facsimile, untested telexes, electronic mails or photocopied letters issued according to the account mandate unaccompanied by an original copy of the clients duly signed letter, irrevocably undertaking to indemnify Lead Asset Management and hold it harmless from and against all cost (including but without limitation to legal fees and expenses, claims, losses, liabilities and damages. Lead Asset Management shall have absolute discretion, for any reason whatsoever, to act or not to act, upon documentation received by facsimile, untested telex, electronic mail or photocopied letter unaccompanied by a duly signed original copy of a letter issued by the client and / or to request verification of documents received by such means.

TERMS AND CONDITIONS

“You are advised to thoroughly consider your investment objectives, the risks expenses and charges involved in Investing in the Nigerian stock market. Kindly note that the same manner profits is made in the market, losses can also be incurred. A good knowledge of the market is required before actively investing in the stock market. Please carefully read through the resources available on the LeadTrader’s website which will educate you on how to maximize profits in the stock market”.

Trading volumes, Market volatility and system performance and other factors may delay system access and response times. Price, Execution speed and liquidity are affected by many factors, including market volatility, size and type of order.

Please read these Terms and conditions carefully. You are required to read and understand them before proceeding on this website or this product. If you do not accept these terms, please do not use this website or the services provided by us as described on this website.

By ordering this service, you are agreeing to our terms and conditions.

ACCOUNT OPENING

Every client must fill an account opening form with the requisite documents from our website www.leadtraderng.org. Every client would be required to provide valid means of identification such as utility bill, drivers’ license and /or international passport. Lead Securities and Investment shall not be liable for the integrity of any of the documents provided.

Active bank account details must be provided.

In the event that the client wishes to change any significant information (such as address, phone number, email address e.t.c.) with which the account was opened, he must supply the new details through the platform and by mail to custormerservice@leadcapitalng.com

The name the client utilizes in opening the account must correspond with the name in the bank details provided. Clients may open account by moving stocks from another house to Lead Securities & Investment Limited However, the responsibility for moving those accounts would rest solely on the client. Upon filling this form and submission of same, subject to verification by Lead Securities & Investment Limited, log in details including a temporary password shall be sent to the email address provided on the Account Opening Form. The client is required to change the temporary password provided by providing a permanent password. Lead Securities & Investment Limited shall not be liable for any errors/omissions or loss arising in the process of forwarding the login details including the temporary password to the client, or where the password is received by an un-intended recipient, PROVIDED THAT Lead Securities & Investment Limited sends the login details to the email address provided by the client on the Account Opening Form.

Clients agree to take responsibility for protecting and ensuring the safety of their user login profile (userId and password) at all times. Registration for LeadTrader is for a single user only. Clients must not permit other persons to use their login profile nor disclose their detail to third parties. Lead Investments & Securities Limited shall not be liable for any losses arising from unauthorized access to, or use of the clients account arising from Client’s negligence or failure to safeguard and protect their login details or any other client information protection device provided by Lead Securities & Investment Limited to facilitate confidentiality, integrity, and accuracy of client’s data and online transactions.

ACCOUNT OPERATIONS

Clients shall fund their account for trading purposes by paying value into all designated banks and /or through e-payment modules on the website.

Unexecuted mandates without price limits would be carried forward until filled except client objects through the appropriate transaction medium.

  • All Mandates must come in through the web- enabled jobbing book, registered email address.
  • Clients would bear all the charges involved in all online payments.
  • Clients are responsible for initiating payment request through transaction medium.
  • Payment from client accounts would be done electronically to the clients bank account provided.
  • Payments cannot be made to 3rd parties but only to the clients bank account provided.
  • This retail service will not permit other encumbrances such as moving account to Lead Securities & Investment Limited or changing of address in registrar, following up on missing certificates or dividend warrants.

REGULATORY COMPLIANCES

Dealings with clients and agents on the LeadTrader platform would be in strict compliance with the policies, codes, conducts, ethics and regulations of the Securities & Exchange Commission (SEC) and Nigerian Stock Exchange (NSE).

INFORMATION TECHNOLOGY

Access to and use of this website is at the users own risk and Lead Securities & Investment Limited do not represent or warrant that the use of this site or any material downloaded from it will not cause damage to property, including but not limited to loss of data or computer virus infection.

Price may fluctuate at entry and execution points.

Third party payment card cannot be used to fund Client’s account.

Lead Securities & Investment Limited would not be responsible for any loss, omission, which may arise due to Information Technology or network downtime.

Whilst Lead Securities & Investment Limited will exercise due skill and diligence and ensure that the system operates as advertised. We make no guarantees that our fully automated systems will correctly carry out all the functions they were set up to carry out.

While we will use every reasonable endeavor to ensure the integrity and security of the server, we do not guarantee that the server will be free from unauthorized users or hackers and we shall be under no liability for non-receipt or misrouting of email or for any other failure of email.

Clients’ access to LeadTrader may be suspended at any time without notice to maintain the integrity of this service or in instances of system maintenance or failure, or for any reason beyond Lead Securities & Investment Limited control. Lead Securities & Investment Limited also reserves the right to temporarily or permanently change, modify, or discontinue this service at any time without notice. Client agrees that Lead Securities & Investment Limited will not be liable to Client or any third party for the exercise of these rights of suspension, modification or discontinuation.

ACCOUNT CLOSURE

Clients can terminate their contract with Lead Securities & Investment Limited either through an inter member transfer to another brokerage house or through outright sales.

DISCLAIMER

Lead Securities & Investment Limited will not be responsible for the eccentricities and fluctuations of the stock market and the consequent diminution in the value of the holdings of clients. Lead Securities & Investment Limited expressly disclaims all and provides no representations or warranties in respect of this website, its contents and the services provided by us. We do not represent or warrant that the information accessible on or via this website is accurate, complete or current.

SEVERABILITY

If any provision or part of a provision of these terms and agreement of these terms and conditions are found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force. If any invalid, unenforceable or illegal provision would be valid enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.

COPYRIGHT

Copyright LeadTrader 2014. All rights reserved. Copyright in the pages and the screens displaying the pages and in the information and material therein and their arrangement is owned by Lead Securities & Investment Limited unless otherwise indicated.

The LeadTrader network and all other designs and software applications deployed on this website and for the use of this product are copyrighted material under the laws of NIGERIA and international treaty provisions. These applications regardless of the form or medium in which the original or copies may exist are the sole and exclusive property of Lead Securities & Investment Limited. These applications including the source and object codes, logic and structure, constitute valuable trade secrets of Lead Securities and Investment Limited. Lead Securities & Investment Limited may in its sole discretion change, terminate, suspend or discontinue any aspect of the application, including but not limited to contents, features, or hours of availability.

TRADEMARK

The trademarks, service marks, logos, trade dress, URLs and domain names appearing on this site are the property of Leads Securities & Investment Limited its affiliates or other third parties who have given Lead Securities & Investment Limited license to use the marks. You may not use, copy, download or display any of the marks without the consent of Lead Securities & Investment Limited first sought and obtained.

INDEMNITY

The Client hereby agrees to indemnify and to keep Lead Securities & Investment Limited fully and effectively indemnified against any action, liability, cost, claim, loss, damage, proceeding or expense (including legal fees, costs and expenses on a full indemnity basis) suffered or incurred by Lead Securities &Investment Limited arising from or which is directly or indirectly related to the content herein.

MODIFICATION

Lead Securities & Investment Limited reserves the right and discretion to change at any time without prior warning or notice any information or material contained on the LeadTrader website and is entitled to from time to time amend the Terms and Conditions under which the LeadTrader Website is used without prior notice to the Client. If the Client continues to access to the LeadTrader Website after such modification, the Client is deemed to have agreed to be bound by such modified information, material, and Terms and Conditions.

CONFIDENTIALITY

The Client hereby agrees that Lead Securities and Investment Limited shall not be under any obligation of confidentiality to the Client regarding any such information or material submitted to it using the LeadTrader Website unless agreed otherwise in a separate direct contract between the Client and Lead Securities & Investment Limited or required by applicable laws.

Lead Fixed Income Fund – Terms and Condition

These terms and conditions shall apply to the operation of all Lead Asset Management Accounts (the Accounts) and form an integral part of the Agreement with the client.

  1. Account Opening

The client has irrevocably requested and Lead Asset Management has agreed to open an Investment Account (the Account) on behalf of the client.

  1. Authenticity of Instruments

I/We agree to assume full responsibility for the genuineness, correctness and validity of all endorsement appearing on all cheques, orders, bills, notes, negotiable instruments, share warrants, receipts and other documents deposited for investment purposes

  1. Safe Operation of Account

The client agrees to safely operate the account.

The client agrees to assume full responsibility and ensure safe custody of all print and electronic correspondence issued to/or by Lead Asset Management regarding the account.

The client agrees to notify Lead Asset Management immediately whenever he/she knows or has any reason to suspect that an unauthorized person has access to any print or electronic correspondence issued to or by Lead Asset Management regarding the account

The client agrees to indemnify Lead Asset Management against any loss.

  1. Instructions

The client authorizes Lead Asset Management to honor all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client.

  1. Instructions

The client authorizes Lead Asset Management to honour all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client. 5.0 Third-Party enquiries The client agrees and authorizes Lead Asset Management without reservation to make third-party enquires about his/her person and business now or at any time in the future prior to considering any request of the client for investment services or credit facilities. The client agrees and authorizes Lead Asset Management without reservation to make third-party enquiries about him/her person and business now or at any time in future in order to satisfy all required Know your Customer (“KYC”) obligations statutorily imposed from time to time on Financial Institutions in the Federal Republic of Nigeria.

  1. Variation
    1. The client agrees that Lead Asset Management in its sole discretion may at any time suspend or vary the terms and conditions of the operation of the Account. Lead Asset Management will however promptly notify the client of any suspension of service, changes regarding the operation of the Account of applicable charges and tarrifs payable by the client.
  2. Law

These terms and conditions agreed between the client and Lead Asset Management shall be read and interpreted in accordance with the laws of the Federal Republic of Nigeria.

  1. Termination

It is agreed that Lead Asset Management shall terminate the operation of the Account upon receipt of the client’s written instruction. Either the client or Lead Asset Management Asset Management may terminate the operation of the Account upon receipt of 72 hours prior written notice.

  1. Data

The client agrees that Lead Asset Management may use the information disclosed to it by the client in connection or as a result of operating the Account (Data) for assessment and analysis and to identify products and services (including those supplied by third parties) which may be relevant to the client. We may disclose data: a) To credit reference agencies, any person who may assume our rights under this Agreement, a member of FBN Holdings Group, or

b) If we have a right or duty to disclose or are compelled to do so by law.

  1. Contact details

The client agrees that Lead Asset Management will use the address and any other details given on the Account opening documentation to contact the client. The client agrees to immediately inform Lead Asset Management of any changes or additions to those details. All notices and correspondence required to be provided by Lead Asset Management to the client will be forwarded to that address until Lead Asset Management receives a written notification of the clients change of address this should be renumbered to Clause 12.0, and a new Clause 11.0 inserted as follows:

  1. Fees and Charges

The client agrees that Lead Asset Management shall set-off against the account any pre-advised charge(s), tariff(s), deductions or costs associated with the operation of the account by the client.

  1. Operation of Account
    1. 1 The client agrees that the operation of the account is subject to compliance by Lead Asset Management with all laws, regulations, administrative rules and orders which may from time to time be authorized by the Federal Government of Nigeria and/or any other regulatory authorities in Nigeria.
    2. 2 In consideration of Lead Asset Management allowing the client to operate the account from time to time, the client hereby undertakes to hold Lead Asset Management harmless and keep Lead Asset Management indemnified from all losses, costs, or damages Lead Asset Management may sustain or be put to.
    3. 3 The client agrees that Lead Asset Management is under no obligation to honour any withdrawal order on the account unless there are sufficient funds in the account to cover the value of the said withdrawal thereby rendering such instruction or order invalid and of no effect.
    4. 4 The client agrees that Lead Asset Management will accept no liability whatsoever for funds handed to members of its staff outside office hours or outside the Lead Asset Management office premises, except those officers have been pre-authorized by Lead Asset Management. Lead Asset Management shall from time to time communicate in writing to the client the names of officers authorized to receive funds on its behalf.
    5. 5 The client agrees that in the absence of clear disposal instruction, the invested principal amount and interest/income at maturity will be liquidated and Lead Asset Management may at its discretion hold the funds in a non-interest bearing account pending further instructions from the client.
    6. 6 The client agrees that Lead Asset Management shall not be liable for any loss or damages sustained by him/her by reason of the operation of the investment provided such loss or damages was not caused or facilitated by Lead Asset Management or any of its staff action on its instruction.
  2. Indemnity for Third-Party Instruments

The client agrees that in consideration of Lead Asset Management issuing or accepting third-party Bank cheques, Bank drafts and/or other negotiable instruments from time to time, the client hereby irrevocably undertakes to fully indemnify Lead Asset Management against all losses, expenses, costs, damages or otherwise, that may occur as a result of the issuance or acceptance of the said third-party cheques, draft and/or negotiable instrument.

  1. Right of Set-off

The client agrees that in addition to any general lien or similar right to which Lead Asset Management may be entitled by law, Lead Asset Management may at any time and without prior notice to the client combine or consolidate all or any of the client’s accounts without liabilities to Lead Asset Management or any other account or in any other respect whether such liabilities be actual or contingent, primary or collateral and several or joint.

  1. Investment Risk Warning

1 The client agrees that Lead Asset Management shall have no responsibility or any liability to the client for any diminution of the client’s investment due to any future governmental order, levy, law, tax, embargo, moratorium or imposts or depreciation in value of funds due to inflation or the unavailability of funds due to exchange restrictions on convertibility, requisitions, involuntary transfers, seizure of any character, exercise of military or usurped powers, or other similar causes beyound the control of Lead Asset Management and that any or all funds standing to the credit of the account will be payable only in such local currencies as may then be as in circulation in the Federal Republic of Nigeria.

2 The Client by entering into this agreement hereby understands the risks inherent in investments of this nature and that the value of investments may fall as well as rise and the past performance of investments is not a guide to future performance

  1. Acceptable funds transfer Instructions

The client agrees that all instructions on the account shall be duly signed according to the account mandate. The client hereby acknowledges that the use of facsimile, untested telexes, photocopied letters, electronic mails (on the letter head or otherwise) or other unsecured means of communication to convey instructions for funds transfers of any other such instructions not backed by a duly signed original letter from the client, whatever the case may be, is associated with additional risks of fraud exposure. The client shall execute an indemnity form in consideration of Lead Asset Management agreeing to accept and act upon any such instructions, communication and documents by facsimile, untested telexes, electronic mails or photocopied letters issued according to the account mandate unaccompanied by an original copy of the clients duly signed letter, irrevocably undertaking to indemnify Lead Asset Management and hold it harmless from and against all cost (including but without limitation to legal fees and expenses, claims, losses, liabilities and damages. Lead Asset Management shall have absolute discretion, for any reason whatsoever, to act or not to act, upon documentation received by facsimile, untested telex, electronic mail or photocopied letter unaccompanied by a duly signed original copy of a letter issued by the client and / or to request verification of documents received by such means.

TERMS AND CONDITIONS

“You are advised to thoroughly consider your investment objectives, the risks expenses and charges involved in Investing in the Nigerian stock market. Kindly note that the same manner profits is made in the market, losses can also be incurred. A good knowledge of the market is required before actively investing in the stock market. Please carefully read through the resources available on the LeadTrader’s website which will educate you on how to maximize profits in the stock market”.

Trading volumes, Market volatility and system performance and other factors may delay system access and response times. Price, Execution speed and liquidity are affected by many factors, including market volatility, size and type of order.

Please read these Terms and conditions carefully. You are required to read and understand them before proceeding on this website or this product. If you do not accept these terms, please do not use this website or the services provided by us as described on this website.

By ordering this service, you are agreeing to our terms and conditions.

ACCOUNT OPENING

Every client must fill an account opening form with the requisite documents from our website www.leadtraderng.org. Every client would be required to provide valid means of identification such as utility bill, drivers’ license and /or international passport. Lead Securities and Investment shall not be liable for the integrity of any of the documents provided.

Active bank account details must be provided.

In the event that the client wishes to change any significant information (such as address, phone number, email address e.t.c.) with which the account was opened, he must supply the new details through the platform and by mail to custormerservice@leadcapitalng.com

The name the client utilizes in opening the account must correspond with the name in the bank details provided. Clients may open account by moving stocks from another house to Lead Securities & Investment Limited However, the responsibility for moving those accounts would rest solely on the client. Upon filling this form and submission of same, subject to verification by Lead Securities & Investment Limited, log in details including a temporary password shall be sent to the email address provided on the Account Opening Form. The client is required to change the temporary password provided by providing a permanent password. Lead Securities & Investment Limited shall not be liable for any errors/omissions or loss arising in the process of forwarding the login details including the temporary password to the client, or where the password is received by an un-intended recipient, PROVIDED THAT Lead Securities & Investment Limited sends the login details to the email address provided by the client on the Account Opening Form.

Clients agree to take responsibility for protecting and ensuring the safety of their user login profile (userId and password) at all times. Registration for LeadTrader is for a single user only. Clients must not permit other persons to use their login profile nor disclose their detail to third parties. Lead Investments & Securities Limited shall not be liable for any losses arising from unauthorized access to, or use of the clients account arising from Client’s negligence or failure to safeguard and protect their login details or any other client information protection device provided by Lead Securities & Investment Limited to facilitate confidentiality, integrity, and accuracy of client’s data and online transactions.

ACCOUNT OPERATIONS

Clients shall fund their account for trading purposes by paying value into all designated banks and /or through e-payment modules on the website.

Unexecuted mandates without price limits would be carried forward until filled except client objects through the appropriate transaction medium.

  • All Mandates must come in through the web- enabled jobbing book, registered email address.
  • Clients would bear all the charges involved in all online payments.
  • Clients are responsible for initiating payment request through transaction medium.
  • Payment from client accounts would be done electronically to the clients bank account provided.
  • Payments cannot be made to 3rd parties but only to the clients bank account provided.
  • This retail service will not permit other encumbrances such as moving account to Lead Securities & Investment Limited or changing of address in registrar, following up on missing certificates or dividend warrants.

REGULATORY COMPLIANCES

Dealings with clients and agents on the LeadTrader platform would be in strict compliance with the policies, codes, conducts, ethics and regulations of the Securities & Exchange Commission (SEC) and Nigerian Stock Exchange (NSE).

INFORMATION TECHNOLOGY

Access to and use of this website is at the users own risk and Lead Securities & Investment Limited do not represent or warrant that the use of this site or any material downloaded from it will not cause damage to property, including but not limited to loss of data or computer virus infection.

Price may fluctuate at entry and execution points.

Third party payment card cannot be used to fund Client’s account.

Lead Securities & Investment Limited would not be responsible for any loss, omission, which may arise due to Information Technology or network downtime.

Whilst Lead Securities & Investment Limited will exercise due skill and diligence and ensure that the system operates as advertised. We make no guarantees that our fully automated systems will correctly carry out all the functions they were set up to carry out.

While we will use every reasonable endeavor to ensure the integrity and security of the server, we do not guarantee that the server will be free from unauthorized users or hackers and we shall be under no liability for non-receipt or misrouting of email or for any other failure of email.

Clients’ access to LeadTrader may be suspended at any time without notice to maintain the integrity of this service or in instances of system maintenance or failure, or for any reason beyond Lead Securities & Investment Limited control. Lead Securities & Investment Limited also reserves the right to temporarily or permanently change, modify, or discontinue this service at any time without notice. Client agrees that Lead Securities & Investment Limited will not be liable to Client or any third party for the exercise of these rights of suspension, modification or discontinuation.

ACCOUNT CLOSURE

Clients can terminate their contract with Lead Securities & Investment Limited either through an inter member transfer to another brokerage house or through outright sales.

DISCLAIMER

Lead Securities & Investment Limited will not be responsible for the eccentricities and fluctuations of the stock market and the consequent diminution in the value of the holdings of clients. Lead Securities & Investment Limited expressly disclaims all and provides no representations or warranties in respect of this website, its contents and the services provided by us. We do not represent or warrant that the information accessible on or via this website is accurate, complete or current.

SEVERABILITY

If any provision or part of a provision of these terms and agreement of these terms and conditions are found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force. If any invalid, unenforceable or illegal provision would be valid enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.

COPYRIGHT

Copyright LeadTrader 2014. All rights reserved. Copyright in the pages and the screens displaying the pages and in the information and material therein and their arrangement is owned by Lead Securities & Investment Limited unless otherwise indicated.

The LeadTrader network and all other designs and software applications deployed on this website and for the use of this product are copyrighted material under the laws of NIGERIA and international treaty provisions. These applications regardless of the form or medium in which the original or copies may exist are the sole and exclusive property of Lead Securities & Investment Limited. These applications including the source and object codes, logic and structure, constitute valuable trade secrets of Lead Securities and Investment Limited. Lead Securities & Investment Limited may in its sole discretion change, terminate, suspend or discontinue any aspect of the application, including but not limited to contents, features, or hours of availability.

TRADEMARK

The trademarks, service marks, logos, trade dress, URLs and domain names appearing on this site are the property of Leads Securities & Investment Limited its affiliates or other third parties who have given Lead Securities & Investment Limited license to use the marks. You may not use, copy, download or display any of the marks without the consent of Lead Securities & Investment Limited first sought and obtained.

INDEMNITY

The Client hereby agrees to indemnify and to keep Lead Securities & Investment Limited fully and effectively indemnified against any action, liability, cost, claim, loss, damage, proceeding or expense (including legal fees, costs and expenses on a full indemnity basis) suffered or incurred by Lead Securities &Investment Limited arising from or which is directly or indirectly related to the content herein.

MODIFICATION

Lead Securities & Investment Limited reserves the right and discretion to change at any time without prior warning or notice any information or material contained on the LeadTrader website and is entitled to from time to time amend the Terms and Conditions under which the LeadTrader Website is used without prior notice to the Client. If the Client continues to access to the LeadTrader Website after such modification, the Client is deemed to have agreed to be bound by such modified information, material, and Terms and Conditions.

CONFIDENTIALITY

The Client hereby agrees that Lead Securities and Investment Limited shall not be under any obligation of confidentiality to the Client regarding any such information or material submitted to it using the LeadTrader Website unless agreed otherwise in a separate direct contract between the Client and Lead Securities & Investment Limited or required by applicable laws.

Lead Fixed Income Fund – Terms and Condition

These terms and conditions shall apply to the operation of all Lead Asset Management Accounts (the Accounts) and form an integral part of the Agreement with the client.

  1. Account Opening

The client has irrevocably requested and Lead Asset Management has agreed to open an Investment Account (the Account) on behalf of the client.

  1. Authenticity of Instruments

I/We agree to assume full responsibility for the genuineness, correctness and validity of all endorsement appearing on all cheques, orders, bills, notes, negotiable instruments, share warrants, receipts and other documents deposited for investment purposes

  1. Safe Operation of Account

The client agrees to safely operate the account.

The client agrees to assume full responsibility and ensure safe custody of all print and electronic correspondence issued to/or by Lead Asset Management regarding the account.

The client agrees to notify Lead Asset Management immediately whenever he/she knows or has any reason to suspect that an unauthorized person has access to any print or electronic correspondence issued to or by Lead Asset Management regarding the account

The client agrees to indemnify Lead Asset Management against any loss.

  1. Instructions

The client authorizes Lead Asset Management to honor all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client.

  1. Instructions

The client authorizes Lead Asset Management to honour all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client. 5.0 Third-Party enquiries The client agrees and authorizes Lead Asset Management without reservation to make third-party enquires about his/her person and business now or at any time in the future prior to considering any request of the client for investment services or credit facilities. The client agrees and authorizes Lead Asset Management without reservation to make third-party enquiries about him/her person and business now or at any time in future in order to satisfy all required Know your Customer (“KYC”) obligations statutorily imposed from time to time on Financial Institutions in the Federal Republic of Nigeria.

  1. Variation
    1. The client agrees that Lead Asset Management in its sole discretion may at any time suspend or vary the terms and conditions of the operation of the Account. Lead Asset Management will however promptly notify the client of any suspension of service, changes regarding the operation of the Account of applicable charges and tarrifs payable by the client.
  2. Law

These terms and conditions agreed between the client and Lead Asset Management shall be read and interpreted in accordance with the laws of the Federal Republic of Nigeria.

  1. Termination

It is agreed that Lead Asset Management shall terminate the operation of the Account upon receipt of the client’s written instruction. Either the client or Lead Asset Management Asset Management may terminate the operation of the Account upon receipt of 72 hours prior written notice.

  1. Data

The client agrees that Lead Asset Management may use the information disclosed to it by the client in connection or as a result of operating the Account (Data) for assessment and analysis and to identify products and services (including those supplied by third parties) which may be relevant to the client. We may disclose data: a) To credit reference agencies, any person who may assume our rights under this Agreement, a member of FBN Holdings Group, or

b) If we have a right or duty to disclose or are compelled to do so by law.

  1. Contact details

The client agrees that Lead Asset Management will use the address and any other details given on the Account opening documentation to contact the client. The client agrees to immediately inform Lead Asset Management of any changes or additions to those details. All notices and correspondence required to be provided by Lead Asset Management to the client will be forwarded to that address until Lead Asset Management receives a written notification of the clients change of address this should be renumbered to Clause 12.0, and a new Clause 11.0 inserted as follows:

  1. Fees and Charges

The client agrees that Lead Asset Management shall set-off against the account any pre-advised charge(s), tariff(s), deductions or costs associated with the operation of the account by the client.

  1. Operation of Account
    1. 1 The client agrees that the operation of the account is subject to compliance by Lead Asset Management with all laws, regulations, administrative rules and orders which may from time to time be authorized by the Federal Government of Nigeria and/or any other regulatory authorities in Nigeria.
    2. 2 In consideration of Lead Asset Management allowing the client to operate the account from time to time, the client hereby undertakes to hold Lead Asset Management harmless and keep Lead Asset Management indemnified from all losses, costs, or damages Lead Asset Management may sustain or be put to.
    3. 3 The client agrees that Lead Asset Management is under no obligation to honour any withdrawal order on the account unless there are sufficient funds in the account to cover the value of the said withdrawal thereby rendering such instruction or order invalid and of no effect.
    4. 4 The client agrees that Lead Asset Management will accept no liability whatsoever for funds handed to members of its staff outside office hours or outside the Lead Asset Management office premises, except those officers have been pre-authorized by Lead Asset Management. Lead Asset Management shall from time to time communicate in writing to the client the names of officers authorized to receive funds on its behalf.
    5. 5 The client agrees that in the absence of clear disposal instruction, the invested principal amount and interest/income at maturity will be liquidated and Lead Asset Management may at its discretion hold the funds in a non-interest bearing account pending further instructions from the client.
    6. 6 The client agrees that Lead Asset Management shall not be liable for any loss or damages sustained by him/her by reason of the operation of the investment provided such loss or damages was not caused or facilitated by Lead Asset Management or any of its staff action on its instruction.
  2. Indemnity for Third-Party Instruments

The client agrees that in consideration of Lead Asset Management issuing or accepting third-party Bank cheques, Bank drafts and/or other negotiable instruments from time to time, the client hereby irrevocably undertakes to fully indemnify Lead Asset Management against all losses, expenses, costs, damages or otherwise, that may occur as a result of the issuance or acceptance of the said third-party cheques, draft and/or negotiable instrument.

  1. Right of Set-off

The client agrees that in addition to any general lien or similar right to which Lead Asset Management may be entitled by law, Lead Asset Management may at any time and without prior notice to the client combine or consolidate all or any of the client’s accounts without liabilities to Lead Asset Management or any other account or in any other respect whether such liabilities be actual or contingent, primary or collateral and several or joint.

  1. Investment Risk Warning

1 The client agrees that Lead Asset Management shall have no responsibility or any liability to the client for any diminution of the client’s investment due to any future governmental order, levy, law, tax, embargo, moratorium or imposts or depreciation in value of funds due to inflation or the unavailability of funds due to exchange restrictions on convertibility, requisitions, involuntary transfers, seizure of any character, exercise of military or usurped powers, or other similar causes beyound the control of Lead Asset Management and that any or all funds standing to the credit of the account will be payable only in such local currencies as may then be as in circulation in the Federal Republic of Nigeria.

2 The Client by entering into this agreement hereby understands the risks inherent in investments of this nature and that the value of investments may fall as well as rise and the past performance of investments is not a guide to future performance

  1. Acceptable funds transfer Instructions

The client agrees that all instructions on the account shall be duly signed according to the account mandate. The client hereby acknowledges that the use of facsimile, untested telexes, photocopied letters, electronic mails (on the letter head or otherwise) or other unsecured means of communication to convey instructions for funds transfers of any other such instructions not backed by a duly signed original letter from the client, whatever the case may be, is associated with additional risks of fraud exposure. The client shall execute an indemnity form in consideration of Lead Asset Management agreeing to accept and act upon any such instructions, communication and documents by facsimile, untested telexes, electronic mails or photocopied letters issued according to the account mandate unaccompanied by an original copy of the clients duly signed letter, irrevocably undertaking to indemnify Lead Asset Management and hold it harmless from and against all cost (including but without limitation to legal fees and expenses, claims, losses, liabilities and damages. Lead Asset Management shall have absolute discretion, for any reason whatsoever, to act or not to act, upon documentation received by facsimile, untested telex, electronic mail or photocopied letter unaccompanied by a duly signed original copy of a letter issued by the client and / or to request verification of documents received by such means.

Terms and Condition

These terms and conditions shall apply to the operation of all Lead Asset Management Accounts (the Accounts) and form an integral part of the Agreement with the client.

A. Account Opening

The client has irrevocably requested and Lead Asset Management has agreed to open an Investment Account (the Account) on behalf of the client.

B. Authenticity of Instruments

I/We agree to assume full responsibility for the genuineness, correctness and validity of all endorsement appearing on all cheques, orders, bills, notes, negotiable instruments, share warrants, receipts and other documents deposited for investment purposes

C. Safe Operation of Account

The client agrees to safely operate the account.

The client agrees to assume full responsibility and ensure safe custody of all print and electronic correspondence issued to/or by Lead Asset Management regarding the account.

The client agrees to notify Lead Asset Management immediately whenever he/she knows or has any reason to suspect that an unauthorized person has access to any print or electronic correspondence issued to or by Lead Asset Management regarding the account

The client agrees to indemnify Lead Asset Management against any loss.

D. Instructions

The client authorizes Lead Asset Management to honor all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if:

  1. It doubts the authenticity of the instruction or does not consider it to be sufficiently clear.
  2. It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client.

E. Instructions

The client authorizes Lead Asset Management to honour all written instructions issued on the Account provided such orders are executed in accordance with the Account mandate. The client agrees that Lead Asset Management may refuse to act on any instruction if: a) It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. b) It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lead Asset Management or the client. 5.0 Third-Party enquiries The client agrees and authorizes Lead Asset Management without reservation to make third-party enquires about his/her person and business now or at any time in the future prior to considering any request of the client for investment services or credit facilities. The client agrees and authorizes Lead Asset Management without reservation to make third-party enquiries about him/her person and business now or at any time in future in order to satisfy all required Know your Customer (“KYC”) obligations statutorily imposed from time to time on Financial Institutions in the Federal Republic of Nigeria.

F. Variation

  1. The client agrees that Lead Asset Management in its sole discretion may at any time suspend or vary the terms and conditions of the operation of the Account. Lead Asset Management will however promptly notify the client of any suspension of service, changes regarding the operation of the Account of applicable charges and tarrifs payable by the client.

G. Law
These terms and conditions agreed between the client and Lead Asset Management shall be read and interpreted in accordance with the laws of the Federal Republic of Nigeria.

H. Termination
It is agreed that Lead Asset Management shall terminate the operation of the Account upon receipt of the client’s written instruction. Either the client or Lead Asset Management Asset Management may terminate the operation of the Account upon receipt of 72 hours prior written notice.

I. Data

The client agrees that Lead Asset Management may use the information disclosed to it by the client in connection or as a result of operating the Account (Data) for assessment and analysis and to identify products and services (including those supplied by third parties) which may be relevant to the client. We may disclose data:

  1. To credit reference agencies, any person who may assume our rights under this Agreement, a member of FBN Holdings Group, or
  2. If we have a right or duty to disclose or are compelled to do so by law.

J. Contact details

The client agrees that Lead Asset Management will use the address and any other details given on the Account opening documentation to contact the client. The client agrees to immediately inform Lead Asset Management of any changes or additions to those details. All notices and correspondence required to be provided by Lead Asset Management to the client will be forwarded to that address until Lead Asset Management receives a written notification of the clients change of address this should be renumbered to Clause 12.0, and a new Clause 11.0 inserted as follows:

K. Fees and Charges

The client agrees that Lead Asset Management shall set-off against the account any pre-advised charge(s), tariff(s), deductions or costs associated with the operation of the account by the client.

L. Operation of Account

  1. 1 The client agrees that the operation of the account is subject to compliance by Lead Asset Management with all laws, regulations, administrative rules and orders which may from time to time be authorized by the Federal Government of Nigeria and/or any other regulatory authorities in Nigeria.
  2. 2 In consideration of Lead Asset Management allowing the client to operate the account from time to time, the client hereby undertakes to hold Lead Asset Management harmless and keep Lead Asset Management indemnified from all losses, costs, or damages Lead Asset Management may sustain or be put to.
  3. 3 The client agrees that Lead Asset Management is under no obligation to honour any withdrawal order on the account unless there are sufficient funds in the account to cover the value of the said withdrawal thereby rendering such instruction or order invalid and of no effect.
  4. 4 The client agrees that Lead Asset Management will accept no liability whatsoever for funds handed to members of its staff outside office hours or outside the Lead Asset Management office premises, except those officers have been pre-authorized by Lead Asset Management. Lead Asset Management shall from time to time communicate in writing to the client the names of officers authorized to receive funds on its behalf.
  5. 5 The client agrees that in the absence of clear disposal instruction, the invested principal amount and interest/income at maturity will be liquidated and Lead Asset Management may at its discretion hold the funds in a non-interest bearing account pending further instructions from the client.
  6. 6 The client agrees that Lead Asset Management shall not be liable for any loss or damages sustained by him/her by reason of the operation of the investment provided such loss or damages was not caused or facilitated by Lead Asset Management or any of its staff action on its instruction.

M. Indemnity for Third-Party Instruments

The client agrees that in consideration of Lead Asset Management issuing or accepting third-party Bank cheques, Bank drafts and/or other negotiable instruments from time to time, the client hereby irrevocably undertakes to fully indemnify Lead Asset Management against all losses, expenses, costs, damages or otherwise, that may occur as a result of the issuance or acceptance of the said third-party cheques, draft and/or negotiable instrument.

M. Right of Set-off

The client agrees that in addition to any general lien or similar right to which Lead Asset Management may be entitled by law, Lead Asset Management may at any time and without prior notice to the client combine or consolidate all or any of the client’s accounts without liabilities to Lead Asset Management or any other account or in any other respect whether such liabilities be actual or contingent, primary or collateral and several or joint.

O. Investment Risk Warning

  1. The client agrees that Lead Asset Management shall have no responsibility or any liability to the client for any diminution of the client’s investment due to any future governmental order, levy, law, tax, embargo, moratorium or imposts or depreciation in value of funds due to inflation or the unavailability of funds due to exchange restrictions on convertibility, requisitions, involuntary transfers, seizure of any character, exercise of military or usurped powers, or other similar causes beyound the control of Lead Asset Management and that any or all funds standing to the credit of the account will be payable only in such local currencies as may then be as in circulation in the Federal Republic of Nigeria.
  2. The Client by entering into this agreement hereby understands the risks inherent in investments of this nature and that the value of investments may fall as well as rise and the past performance of investments is not a guide to future performance

P. Acceptable funds transfer Instructions

The client agrees that all instructions on the account shall be duly signed according to the account mandate. The client hereby acknowledges that the use of facsimile, untested telexes, photocopied letters, electronic mails (on the letter head or otherwise) or other unsecured means of communication to convey instructions for funds transfers of any other such instructions not backed by a duly signed original letter from the client, whatever the case may be, is associated with additional risks of fraud exposure. The client shall execute an indemnity form in consideration of Lead Asset Management agreeing to accept and act upon any such instructions, communication and documents by facsimile, untested telexes, electronic mails or photocopied letters issued according to the account mandate unaccompanied by an original copy of the clients duly signed letter, irrevocably undertaking to indemnify Lead Asset Management and hold it harmless from and against all cost (including but without limitation to legal fees and expenses, claims, losses, liabilities and damages. Lead Asset Management shall have absolute discretion, for any reason whatsoever, to act or not to act, upon documentation received by facsimile, untested telex, electronic mail or photocopied letter unaccompanied by a duly signed original copy of a letter issued by the client and / or to request verification of documents received by such means.