1. Account Opening: The Applicant authorizes the opening of an account with SHiFT Connect Ltd. (SHiFT) for foreign currency exchange and/or global payment services.
2. Order Process: In consideration of SHiFT’s establishment of an account with the Applicant, it is further agreed the Applicant is responsible for all transactions conducted on the account. The Applicant, by its signature of this Agreement, authorizes SHiFT to accept and rely on all orders and instructions, whether oral or written, from anyone that SHiFT reasonably believes to be Client’s authorized representative. The contract for each transaction arises upon the original booking (“Deal Date”); return of signed Deal Confirmation form merely represents written confirmation of the contract already made. SHiFT may, from time to time, provide market information to assist the Applicant to make informed decisions, however SHiFT will not conduct discretionary trading in the form of advice, judgment, persuasion, or decision execution on behalf of the Applicant. The Applicant agrees that SHiFT may electronically record all telephonic conversations between them and that any such recordings may be submitted in evidence to any court or in any Proceedings for the purpose of establishing any matter pertinent to the Agreement.
It is understood that if SHiFT approves this account application and subsequently establishes an account for Applicant, SHiFT will rely on the accuracy of the information disclosed in this application. Applicant agrees to reimburse SHiFT for any charges, costs, or fees, including legal fees on a solicitor client basis, incurred in the event that any dispute arises under this agreement, or any transaction conducted pursuant thereto, including but not limited to costs of collection, insufficient funds, returned check charges, or any other cost incurred in the pursuit or resolution of the matter.
3. Privacy & Confidentiality: We obtain such information only to carry out our services and for compliance reasons. We do not provide this information to unaffiliated third parties. The Applicant acknowledges and agrees that SHiFT may disclose the Applicant’s name and other personal and financial information about the Applicant to those employees who need to know that information to provide products or services to you, officers, agents, and affiliates, as well as to a governmental entity or self-regulatory authority, or any other third party agent or service provider for any purpose related to offering, providing, administering or maintaining the SHiFT Connect Ltd. services, or to comply with applicable laws, rules, regulations, orders, subpoenas or other legal process. In the event we must disclose non-public personal information received from your Application or other forms, or transactions with us, our affiliates or others, we do so only under strict confidentiality and non-disclosure restrictions set out in a written undertaking that such consultant(s) are required to sign in advance.
We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your non-public personal information.
4A. Authorized Transaction Representative: The following person(s) are authorized to book deals with, negotiate and conclude the terms of such deals, and to instruct SHiFT to transact foreign exchange transactions for the Applicant as to its account with SHiFT . SHiFT is required (under section 4.3 of FINTRAC’s Record Keeping and Client Identification Requirements for Foreign Exchange Dealers Guideline) to confirm the identity of any client’s employee who carries out a transaction on behalf of the client. Once this information is obtained and confirmed any further trades requested by that employee will not require them to confirm their identification again. This identification is required for any trade of $3,000 CAD or greater. Should any future trades involve a different employee, then that new individual will also have to provide their identification at the time of the trade and a record of that information placed in the client’s file.
4B. Inquiries: For questions regarding the Account Operation and Ongoing Service Agreement, please contact our Compliance Department at email@example.com or at (403) 269-5402.