General Terms and Conditions

A. Applicable law and competent judicial authority

All disputes between the company and the client, in particular disputes arising directly or indirectly from the application of this Agreement or from this relationship, are governed by Lebanese applicable laws.

Despite any provision in the applicable law, the "client" agrees that any dispute arising from errors in his account or any error in his relationship with the company of any kind that he did not review the company within two weeks of the date of the issue, the client undertakes not to file any judicial complaint or hold the company liable for any damage resulted from this error.

This agreement and its related annexes, constitute the full agreement between the company and the "client” and replaces all other related discussions and communications.

B. Communication

"Client" may be contacted by mail, fax, e-mail, or by any other acceptable means on its current address set out in the Company's database. The company is required to record all telephone calls made between "client" and the company that includes an order or instruction related to a transaction. The "client" acknowledged that such calls must be recorded and agreed to the waiver of any right he may have to object on the use of such recordings as evidence in any legal disputes between himself and the company. The company is not allowed to erase such recordings before 10 years after the date of the call. In order to carry out business operations/transactions in the client's interest, the company may rely on any instructions, notices or communications, whether oral or written, by BBCorp Trader, or provided by the client himself or by his agent “has written authorization”, after company verification.

The client is deemed to waive his right to object after two weeks from receiving a written notification from the company for transactions made by himself. In this case, the company is exempted and shall not be liable to any responsibilities, penalties, losses, expenses, charges (judicial inclusive) that may incur as a result. Thus, "the company" bears no responsibility for client’s trade of commodities and investments.

The company does not act as trustee, principal manager, manager of a common goods fund, or adviser for trading in commodities or investments, related to any account/accounts opened in the name of "client". "client" will also not be involved in any transaction with the company and will not hold the company liable for any losses that may arise as a result of trading in commodities and investments. Noting that the company does not grant cash loans or provide financial facilities in any transaction to cover margins, nor the company carry an arrangement with another party for the purpose of providing facilities to its customers for the purpose of investing in financial instruments.

C. Suitability and risk management

The company shall refrain from providing any advising services to the client, or to the management of the account, or collecting guarantees to its own account unless it has reasonable grounds to consider the transaction to be suitable to the client, on the basis of the facts and investment objectives disclosed, and on other facts concerning the client that the company is aware of.

In reviewing the suitability of the transaction for the client, the company considers:

• The extent to which the customer has undertaken, knowledge and understanding of the financial instruments and markets that are the subject of the process, and the risks involved.
• The client's financial position, including net income and portfolio value, based on information disclosed by the client.
• Client's experience in investing in financial instruments markets and his frequency of trading in financial instruments.
• The size and nature of the trading compared to other transactions carried out for the client.
• Client’s Investment objectives, including time horizon and risk tolerance.
• Personal status of the client, including age and number of dependents.

If the company makes it clear to the client that the transaction is not appropriate and nevertheless the clients decide to proceed, it is up to the company to accept a purchase or sale order from the customer, provided that the company documents the provided review to the client as a record. The company has full powers under article 3313 of the Business Conduct Regulation.

D. Record keeping

Beirut Brokerage Corporation maintains all records by appropriate means for a period of 10 years in accordance with the regulations unless the Financial Markets Authority decides otherwise.

E. Providing the best conditions for execution

Beirut Brokerage Corporation takes in account the standards of honesty, transparency, integrity, and the best interest of the client. The company also commits to provide follow-up and maintains accuracy, experience, and knowledge in dealing, and to avoid any conflict of interest between the company and the client or between the client and different client.

Beirut Brokerage Corporation protects the confidentiality of the information obtained from the client relevant to his account, as well as the information concerning his transactions, and the company is prohibited from using this information for its own benefit or for the benefit of another person unless the company discloses to the client this use and obtain his consent. (This protection does not apply to the Financial Markets Authority, which is entitled to request information).

F. Risks of financial investments

The company warns the client that dealing and trading in financial instruments and derivatives may be highly risky and likely to expose him to losses which may exceed the amounts deposited by him for this purpose and expose him to substantial financial claims, therefore the client must fully understand the extent of those risks and search for the general market situation and related risks, as well as potential profits and losses, and understand all market risks that may expose him to such potential losses.

The company is required to deposit client’s money in a separate account in a commercial bank licensed by BDL and to separate company’s money and assets from those of the client’s. Therefore, the creditors of the company, including the depositing bank, have no right or claim over the customer's money and assets.

Client's funds and assets shall not be considered as assets of the company for any purpose unless the required margins of the "client" are required to be covered under as per agreement.