user agreement

This Agreement is made and entered into by and between the following Parties:

Acetop Precious Metals Limited is an OTC precious metal dealing company incorporated under Companies Ordinance (Chapter 32) of the Laws of Hong Kong Special Administrative Region(HKSAR) with a registered address at 19/F., the Toy House, 100 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong (hereinafter referred to as “Acetop Precious Metals”);

And

Client (referring to as the other Party to this Agreement, details of which are listed in the Account Application Form). The Parties hereby agree as follows:

Whereas:
1. Client desires to open a transaction account with Acetop Precious Metals for OTC precious metal transaction, and has already asked Acetop Precious Metals to open and maintain its transaction account in Acetop Precious Metals for the aforesaid purpose and execute the transaction instructions of Client.

2. Acetop Precious Metals agrees to permit Client to open a transaction account pursuant to the following terms and conditions ,from time to time as required by Client and in the absolute discretion of Acetop Precious Metals ,and maintain Client’s account according to the specific or designated ac count name, account number or by other means ,. Acetop Precious Metals agrees to execute all instructions issued by Client or the authorized person(s) for conducting OTC precious metal transaction s pursuant to the following terms and conditions set forth in this Agreement.

1. Definitions and interpretations

1.1 Unless otherwise specified in this Agreement, the words and expressions below shall have the following meanings:

Acetop Precious Metals: including Acetop Precious Metals Limited, its successors and transferees thereof.

Client: in case of an individual, includes Client and its executor and administrator; in case of a sole proprietorship firm, including the sole proprietor, its executor and administrator, as well as the successors of its business; in case of a partnership firm, including the partners of the firm, their respective executors and administrators during the course of above mentioned Client account maintenance period, as well as any other persons who will become or have become the partners of the firm at any time thereafter, their respective executors and administrators, and the successors of such partnership business; and in case of a company, including the company and its successors.

Agreement: including this Agreement, annexed Notice to Clients, Risk Disclosure Statement, Account Application Form, declarations of Client, and all the other agreements entered into or letters of attorney issued by Client at any time for maintaining its Acetop Precious Metals account as well as all annexes, lists, supplements and amendment to the abovementioned documents issued by Acetop Precious Metals in writing from time to time.

Account:referring to the transaction account opened by Client with Acetop Precious Metals.

Acetop Precious Metals network service:referring to the online transaction service provided by Acetop Precious Metals, as well as any information contained in this service system and the software which constitutes the system.

Initial margin: referring to the money deposited by Client in Acetop Precious Metals as the minimum amount for the security of all transactions when or before each transaction instruction is given, and such amount may be stipulated by Acetop Precious Metals from time to time in its discretion.

In writing or written:unless otherwise as expressly specified in this Agreement, including any written, printed, telex message, e-mail, fax, as well as other legible reproductions of texts or pictures, and in respect of Acetop Precious Metals, including the information published by Acetop Precious Metals on its official website.

Maintenance margin:referring to the minimum balance to be maintained for each placement of order after Client has deposited the initial margin. Such amount may be stipulated by Acetop Precious Metals from time to time in its discretion.

OTC: referring to “Over The Counter”.

OTC precious metal: referring to precious metal (including gold / silver) transactions over the counter.

Password:referring to the Client private password assigned by Acetop Precious Metals to Client and used in conjunction with Client user name to connect to the service.

Service: referring to any service or OTC precious metal transaction facilities provided by Acetop Precious Metals and / or provided on behalf of Acetop Precious Metals. Such facilities allow Client give instructions through the internet or otherwise to buy and / or sell OTC precious metals, receive account information and accept related services.

Intermediary:referring to the middleman or introducer who introduces the Client to open an account with Acetop Precious Metals for opening an account, with the status as an independent third party rather than the employee or agent of Acetop Precious Metals.

SFC:referring to Securities and Futures Commission established under the Securities and Futures Ordinance .

Securities and Futures Ordinance:referring to Chapter 571 Securities and Futures Ordinance of the Laws of Hong Kong which is revised or updated from time to time.

User Name:referring to the private user name for identification assigned by Acetop Precious Metals to Client and used in conjunction with Client password to connect to the service, account information and other related services.

1.2 The headings are added for the convenience of reference only and shall not interfere with the interpretation of this Agreement.

1.3 In this Agreement, any singular form of words shall include the plural form thereof, vice versa; and words denoting one gender shall include the other genders, vice versa.

In this Agreement, paragraph headings are added for the convenience of reference only and shall not limit or affect the applications and meanings of provisions in paragraph form.

2. Client declaration

When signing this Agreement and applying for the opening of an account, Client shall acknowledge that it has been informed that Acetop Precious Metals is a registered member of the Chinese Gold and Silver Exchange Society (CGSE), holding the Gold and Silver Exchange Society member license, the business operation of which shall comply with the standards of the CGSE, and that currently OTC precious metal trading is not a regulated activity under the Securities and Futures Ordinance, and acknowledge that it has already read this Agreement carefully, understood, agreed with and accepted the content and transaction terms hereof, and shall agree to be bounded by the terms and conditions of this Agreement, especially those of the annexed Notice to Clients and Risk Disclosure. When signing this Agreement, Client has already known the nature of such transaction and the risk to be undertaken.

3. Account opening and cancellation

3.1 If Client marks the “I accept this Client Agreement” in the Account Application Form on Acetop Precious Metals website, it means that this Client Agreement has equal legal force and effect as the original has been signed. Acetop Precious Metals will not send out the Client Agreement by mail, and Client shall attend the office of Acetop Precious Metals in person to sign and collect the original copy of the Client Agreement.

3.2 Acetop Precious Metals only accepts the opening of a transaction account by persons holding valid identification documents or valid passport. Each person shall only open one transaction account by the number of each of the identification document. If it is found that an investor is having multiple accounts with Acetop Precious Metals at the same time, Acetop Precious Metals reserves the right to cancel the other accounts of the investor.

3.3 If Client desires to close the account, it shall fill out an Account Cancellation Application Form; in the case where Client has closed out positions, Acetop Precious Metals shall handle the application within two working days upon the receipt of it.

4. Fund Deposit and withdrawal

4.1Client may deposit fund to the transaction account of Client according to the fund deposit manner provided on the Acetop Precious Metals website. Unless Acetop Precious Metals has confirmed its receipt of the fund deposited by Client, Acetop Precious Metals will not hand let he fund deposit procedure for Client. If Client makes a fund deposit by way of bank transfer, the handling fees incurred arising there from shall be borne by Client. All fund deposited shall be subject to the confirmation of Acetop Precious Metals as to its receipt of the funds deposited by Client. Client shall not hold Acetop Precious Metals liable for instructions about placing an order or closing a position which fails to be accepted or confirmed by Acetop Precious Metals due to reasons of fund depositor any other aspects.

4.2 Before opening an account or withdrawing money for the first time, it is necessary to submit the identity documentation or valid passport as well as the bank card photocopy of Client;otherwise, Acetop Precious Metals will not handle the application of Client for opening an account or withdrawing money. For the security of Client’s fund, Client must tie-in the Client’s identity document when opening an account and open the bank account opened using its real name, whereby it may only withdraw money, and he may with draw money only through such tied-in bank account.

4.3For reasons attributable to the third party, the speed of a bank to process the money may be difficult for Acetop Precious Metals to control and predict; therefore it may be the case that Client would not be able to receive the money with drawn with in the predicted time.

4.4 Acetop Precious Metals reserves the right to adjust the handling fees for fund deposit and fund withdrawal at any time and reserves all relevant rights of explanation.

5. Authorization of transaction

5.1 Acetop Precious Metals may match the orders and/or place market orders with regard to part or all of the Client's transaction orders. Acetop Precious Metals is authorized to buy or sell OTC precious metals pursuant to Client’s verbal, written or computerized instructions for Client's account(s) with a third party, such as a bank or financial institution.

(i) Where Acetop Precious Metals is authorized to execute the instructions, it may consider such instructions as given by Client or its authorized person without having to enquire into the validity thereof;

(ii)In no event shall Acetop Precious Metals be required to verify the validity of written instructions or the signatures in any particular case;

(iii) Provided that Acetop Precious Metals has acted in good faith and without gross negligence, Client will bear the risk of all the unauthorised instructions given, and liable for all the losses, costs, fees, damages, expenses, claims or demands,Client also warrants that it shall make no claim for liabilities or damages against Acetop Precious Metals, and that Acetop Precious Metals will not suffer losses from any of the above mentioned cases, including those relating to or arising from Acetop Precious Metals acting upon, delaying in acting upon or refusing to act upon any instruction or information offered to Acetop Precious Metals by Client, including improper, unauthorized, false or fraudulent instructions given by Client, even if such instructions were not authorized by Client;

(iv)Acetop Precious Metals reserves the right to limit the total number for each order placed and to limit the amount and/or total number of positions acquired or held by Client. Acetop Precious Metals will perform the selected and accepted orders according to the instructions of Client, Client’s instructions for order placement (including instructions for closing a position) may not be performed or accepted by Acetop Precious Metals, or may not be performed or accepted for other reasons. Acetop Precious Metals shall not be responsible for instructions of order placement or instructions of position closing not accepted or performed;

(v) Acetop Precious Metals has the right to refuse to accept any order. Acetop Precious Metals shall neither guarantee that Client can revise the stop loss or stop gain settings, nor be responsible for any loss or damage caused by event which may not be controlled directly or indirectly by Acetop Precious Metals, or acting or non acting,such cases including but not limited to any loss or damage caused by any inaccurate or delayed order or information transmission due to failure in transmission or communication facilities. In respect of transaction procedures, if for any reason,the desired setting for the stop loss or stop gain cannot be performed, and the old instructions are still performed, then Acetop Precious Metals shall not be responsible for the loss incurred there from, and Client knows and accepts that such kind of transaction risks have to be taken in using of network transaction platform.

5.2 On some occasions the quote shown on the transaction platform of Acetop Precious Metals may not accurately reflect the real-time price for reasons of delays of the internet and connection, as well as quoting errors. On some occasions the closing price may not be the same price as shown on the transaction platform when Client places an order;Client hereby accepts and agrees that all the final transaction prices shall be based on the closing records in the transaction system of Acetop Precious Metals.

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