ACCEPTANCE OF TERMS AND CONDITIONS
You are deemed to have accepted Our Terms and Conditions contained herein and as amended from time to time upon registration and use of the Networktrader Platform.
The Website is intended for your personal or commercial use only. You may download information from the Website to your computer and print out a hard copy for your personal reference, provided that you agree not to remove any copyright, trademark or other notices contained therein
Network Capital Limited hereinafter referred to as “NETCAP” offers content from third-party providers on “Networktrader”. This content may include, but is not limited to, financial market data, quotes, news, analyst opinions and research reports (“Content”). NETCAP does not endorse or approve the Content, and we make it available to you only as a service and convenience. NETCAP will endeavour to ensure the accuracy and reliability of the content, materials and products included and made available to you. However due to the possibility of human and mechanical error including other factors, to the extent allowed by law, NETCAP does not, whether expressly, tacitly or implicitly, represent, warrant or in any other way guarantee the availability, truth, accuracy, completeness or reliability of such information or that it is always up to date. In addition, NETCAP does not guarantee the correct sequencing of the Content or warrant any results from your use or reliance on the Content.
This service and the content are provided “AS IS” and the company, “Disclaim” any and all representations and warranties, whether express or implied, including implied warranties of title or non-infringement. The company cannot guarantee and does not promise any specific results from use of the Networktrader Platform. The company does not represent or warrant that software, content or materials on the website or elsewhere are accurate, complete, reliable, current or error-free or that the service or any of the servers used to operate the service are free of viruses or other harmful components. Therefore, you should exercise caution in the use and downloading of any content or materials and use industry-recognized software to detect and disinfect viruses.
Without limiting the foregoing, you understand and agree that you download or otherwise obtain content, data or other material from or through the service at your own discretion and risk and that you will be solely responsible for the use thereof and any damages to your mobile device or computer system, loss of data or other harm of any kind that may result
You understand that all postings, messages, text, images or other materials (“Content”) posted or published on, uploaded to, transmitted through, or linked from (hereinafter, “post” or “posted”), the website are the sole responsibility of the person from whom such Content originated. You understand that NETCAP does not control, and is not responsible for, Content made available through the Networktrader, and that by using the Networktrader, you may be exposed to Content that is inaccurate or misleading.
NETCAP provides the content of the Website for informational, educational and commercial purposes. Although NETCAP may provide data, information and Content relating to investment approaches and opportunities to buy or sell securities, including mutual funds and exchange-traded funds, you should not construe any such information as investment, financial, tax, legal or other advice. You will bear the sole responsibility of evaluating the merits and risks associated with the use of any data, information or content on the Website before making any decisions based on such data, information or Content. In exchange for using such data, information or Content, you agree not to hold NETCAP or its third-party content providers liable for any possible claim for damages arising from any decision you make based on information made available to you through Networktrader.
MINIMUM ACCOUNT BALANCE
The Minimum Account opening Balance for New Networktrader Users is N2,000,000.00 (Two Million Naira Only). However, existing NETCAP customers need not have a minimum balance, as long as they maintain a portfolio with NETCAP worth N2,000,000.00 (Two Million Naira only)..
You agree to pay the scale of fees and commissions here under listed or as may be specified from time to time for each Transaction effected from your Account.
The applicable rates are as follows;
|BUY ORDER||SELL ORDER|
|SEC – 0.3% of Consideration||SEC – 0.0% of Consideration|
|NSE fee – 0%||NSE fee – 0.3%|
|NSE VAT – 0.0%||NSE VAT – 7.5%|
|CSCS – 0%||CSCS – 0.3%|
|CSCS VAT – 0%||CSCS VAT – 7.5%|
|Contract Stamp – 0.08%||Contract Stamp – 0.08%|
|Commission – 1.35%||Commission – 1.35%|
|VAT on Brokerage Commission – 7.5%||VAT on Brokerage Commission – 7.5%|
|Comm VAT – 7.5%||Comm VAT – 7.5%|
|SMS Alert – N4.000||SMS Alert – N4.00|
|VAT on SMS – 7.5%||VAT on SMS – 7.5%|
Kindly note that the above rates do not apply to users with pre negotiated rates agreement with NETCAP.
The current applicable scale of fees and commissions are published for your attention at http://networkcapitalltd.com.
Fees payable on each Transaction will be deducted from your Account by NETCAP on the conclusion of each Transaction and the contract note evidencing the Transaction will be sent to you by automated electronic mail provided that in the event that such contract notes are requested in hard copy, applicable rates shall apply. Such fees are subject to applicable levies and taxes at the then prevailing rates. All charges payable by you in connection with the use of the Services will be debited from your Account without further reference to you.
The Broker agrees to indemnify NETCAP and further undertakes to keep NETCAP fully indemnified against all damages or costs, proceedings, liabilities, claims, losses and expenses of any type arising out of or in any way connected to trades executed on the broker’s customer accounts for their customers on Networktrader or acting on behalf of and on the instructions of the Broker.
All Debit Transactions from your Account will be executed in accordance with the relevant NETCAP Service Policy.
You shall not be permitted to effect any Transactions from your Account in the event that you do not have sufficient balance in your Account to meet the value of the Transaction and Charges applicable thereto.
“Networktrader” will notify you of all Transactions executed on your Account via electronic mail, SMS and any other means of notification to you. Please note that such notification may attract charges. The Networktrader’s records will be taken as correct unless the contrary is proved. If no notification is received from you within twenty-four (24) hours of such electronic mail and/or SMS disclaiming any transaction specified in an electronic mail and/or SMS, then the transaction will be deemed to have been confirmed and accepted. Please note that transactions alert fee may apply.
Upon the occurrence of any Transaction on your account, Networktrader shall credit your user Account once the sum is actually credited to or transferred to your Account or debit your user Account further to the debit transaction.
Any Transactions executed using your PIN/Password shall be effected and charged to your Account. You acknowledge that, unless and until NETCAP receives notice from you that your PIN/Password is no longer secure, NETCAP is entitled to rely on the use of your PIN/Password as conclusive evidence that a Transaction was indeed authorized by you, even if it is actually made without your authorization. NETCAP shall not require any written confirmation of any Transaction.
You agree that you will only use the channels provided by NETCAP to access the Services. We shall not be liable for any loss or damage whether direct, indirect, arising from any Transactions not conducted through ”Networktrader” and the use of channels not provided by us to access the services.
You fully understand and acknowledge that your Mandate(s) and other information provided to NETCAP through ”NETWORKTRADER” will be provided over the internet which is an unsecure public domain. Consequently, you hereby acknowledge that due to the associated risks of unlawful interception, corruption, non-delivery or mis-delivery, NETCAP cannot guarantee that such Mandate(s) or other information will remain confidential or be free from interference or be delivered in a timely manner or at all.
SECURITY AND UNAUTHORIZED USE
You are to select a PIN/Password during your registration that MUST remain known ONLY to you. This PIN/Password is mandatory for the use of the Services as no Transaction is effected without entering and validating the PIN/Password. You have three (3) attempts to enter the right PIN/Password. If you enter the wrong PIN/Password on your 3rd attempt the Account will be temporarily disabled, until reactivated following the procedure provided in that regard by NETCAP.
Kindly note that we shall have no liability for, and shall be indemnified by you on full indemnity basis in respect of any damage, virus attack or loss of data or device and breach of your security profile.
You authorize NETCAP to execute any Mandate given through the use of your PIN/Password. Once NETCAP is authorized by means of your PIN/Password, NETCAP is entitled to assume that the relevant Mandate(s) are your valid instructions and to rely on same. NETCAP is exempted from any form of liability whatsoever for executing any or all Mandate(s) given by means of or authenticated using your PIN/Password, if by any means your PIN/Password becomes known to a third party or otherwise becomes compromised. Once your PIN/Password is given, it shall be sufficient confirmation of the authenticity of the instruction received by NETCAP. Accordingly, you hereby agree that NETCAP shall not be responsible for any fraudulent, duplicate or erroneous instructions given by means of your PIN/Password.
Where you discover or reasonably suspect that your PIN/Password is no longer secure or has been compromised kindly log on to NETWORKTRADER and change your password immediately.
You shall immediately notify the Help Desk at firstname.lastname@example.org in the instance that you request to lock or disable your account(s) and shall promptly implement the PIN/Password change protocol.
SUSPENSION/CLOSURE OF ACCOUNT
We may suspend, restrict or terminate the provision of the Services (in whole or in part) and/or close your Account without informing you and without any liability whatsoever under any of the following circumstances:
- Complaint/ report or have reasonable belief that user Account(s) is/are being used in an unauthorized, unlawful, improper or fraudulent manner or for criminal activities or in contravention of this Terms and Conditions (or has been so used previously);
- Failure to comply with any of the conditions relating to the Services including these Terms and Conditions;
- Failure to notify us of PIN/Password change due to loss or disclosure to any third party;
- Failure to do anything (or allow anything to be done) which we think may damage or affect the operation or security of the Services;
- When required to do so by regulatory authorities or in order to comply with provisions of any Applicable Law.
- Closure of account on user request.
You agree that all copyright, trademark and other intellectual property rights used as part of the Services, Software or contained on our documents are owned by NETCAP or its licensors. Reproduction of part or all of such protected material(s) is prohibited;
Users can access their account statements from the Platform at no cost to the customer.
FAILURE /MALFUNCTION OF EQUIPMENT
NETCAP shall not be responsible for any loss arising from any failure, malfunction or delay in any POS, mobile phone network, internet network provider and mobile phones or such other devices used to access “Networktrader”, the internet or terminals or any of its supporting or shared networks resulting from circumstances beyond our reasonable control.
NETCAP reserve the right to vary at any time and without prior notice to you these Terms and Conditions. Variations will be notified through the Website and or by using any other suitable means PROVIDED THAT you shall be deemed to have been notified of any such variations regardless that the same may not have actually come to your attention.
By continuing to use the Services you shall be deemed to have agreed to the said variations. If you do not accept any of the variations then you must discontinue all Transactions on the platform otherwise you will be deemed to have accepted same.
NETCAP collects customer information in order to administer individual accounts, update Networktrader” databases, provide user support, in compliance with statutory requirements. This information may include: your name, address, job title, telephone number, email address and financial information necessary to conclude contracts or implement your Mandates and enable administration and management of Services or products to which you intend to or have subscribed. NETCAP will only collect information that is necessary for the provision of the product or service that you have subscribed to or to comply with its statutory obligations. The type of information collected will depend on the nature of the product or service demanded.
NETCAP undertakes to use reasonable effort to keep Information collected secure and shall only hold such information for as long as is reasonably necessary in the circumstances you are registered or as required under relevant Applicable Law. NETCAP undertakes not to use the Information for any additional purposes without your prior consent. NETCAP will take all appropriate technical measures using recognized security procedures and tools in accordance with good industry practice to protect your personal information against loss, misuse and interception by third parties, but, to the extent allowed by law, NETCAP assumes no liability for any damages you may suffer as a result of interception, alteration or misuse of information transmitted over the Internet. Whilst we use all reasonable endeavors to protect your security in the manner described above, we consider that it is only appropriate to advise users that data transmission over the Internet and the World Wide Web cannot be guaranteed as 100% secure, and therefore that you use the Website at your own risk.
Save as provided hereunder or required by an Applicable Law, NETCAP will not share your personal information with unauthorized persons and adequate safeguards have been put in place to prevent unauthorized access and to ensure confidentiality of your personal information.
The user acknowledges that by using the Platform, some of your personal information may be passed on to third parties. You understand that NETCAP as part of its statutory obligations as a capital market operator is required to maintain records in relation to its operations and hereby consent to and authorize NETCAP to keep and compile records of your Transactions and Information provided pursuant to this agreement and to release same to relevant regulatory, governmental and security agencies as may be required under Applicable Laws.
The user accepts that NETCAP shall have the right to monitor your account usage and may disclose personal information to local law enforcement or investigative agencies or any competent regulatory or governmental agencies to assist in the prevention, detection or prosecution of money laundering activities, fraud or other criminal activities.
The user consents to us the right to make enquires of any credit record with any credit reference agency and any other party to confirm your details and to provide regular updates regarding the conduct of the Account to the credit reference agencies and allowing the credit reference agencies to in turn make the record and details available to other credit grantors.
The user consent to us the right to carry out identity and fraud prevention checks and to share information relating to this application with the Nigerian police or any fraud prevention or security agency. You also consent to us providing details to the Nigeria Police (or any other relevant security agency of any country) or any fraud prevention or security agency of any conduct on your account that gives us reasonable cause to suspect that the account is being used for improper purposes.
LIMITATION OF LIABILITY
Your use of the System is on an “as it is” basis and, to the maximum extent permissible by law, we exclude warranties and conditions of all kinds, either express or implied.
However, we cannot guarantee that the platform will be available at all times and we will not be responsible or liable for any loss whatsoever or howsoever arising as a consequence of any non-availability of the Services on the trade platform. Our Services are not fault free and factors including (but not limited to) acts of God, geographical topography, weather conditions, planned maintenance or rectification work on your Network Service Provider’s, failure of systems, damages to data transmission infrastructure system may interfere adversely with the quality and provision of the Services.
The confidentiality of your communications is not guaranteed. You are advised that for reasons beyond our control, there is a risk that your communications may be unlawfully intercepted or accessed by those other than the intended recipient. We cannot accept any liability for any loss, injury or damage whether direct or consequential arising out of any such compromise of confidentiality.
The customer agrees that this Agreement and any dispute in relation thereto shall be governed by the laws of Nigeria.
Any dispute shall be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act (Cap. A18) LFN 2004.