12.1. Written notification in the Agreement denotes one of the following means of communication:
12.1.1. email
12.1.2. the Company News page on the Company's website.
12.2. The IB agrees that the Company may use the IB's contact information, such as an address, email, and other personal information to send the IB newsletters, emails, and proposals.
12.3. Any correspondence (documents, announcements, notifications, confirmations, statements, or similar) shall be deemed received by the IB:
12.3.1. one hour after being sent via email
12.3.2. one hour after the announcement is posted on the Company News page on the Company's website.
12.4. The IB shall unconditionally and under all circumstances, without exception, act solely on behalf of its own. Conducting any business under the name of the Company is a violation of the Agreement and shall lead to immediate termination of the Agreement and the cancellation of any IB Commission or any other payment payable to the IB.
12.5. If the reader hereof does not agree to be bound by the terms of this Agreement, please do not use, or try, or access any of the Company's services whatsoever.
12.6. This Agreement has been drawn up in the English language. In case of discrepancies between the English version of this Agreement and any translation, the English version shall prevail.
12.7. Dispute Resolution. Any dispute, controversy or claim arising under, out of or relating to this Agreement and any subsequent amendments of this Agreement, including, without limitation, its formation, validity, binding effect, interpretation, performance, breach or termination, as well as non-contractual claims, shall be settled by the Parties by means of negotiations. If the Parties cannot reach an agreement within two calendar weeks following the initiation of the negotiations by a Party, any Party may submit the dispute for final settlement in accordance with Clause 12.8.1.
12.8. Governing law. This Agreement shall be governed by and construed in accordance with the laws of the Union of the Comoros, or, where applicable and more appropriate based on the circumstances of the dispute, the laws of the jurisdiction where the Introducing Broker (IB) is domiciled or incorporated. The applicable law shall be selected by the claimant Party and interpreted in good faith, giving due regard to the Parties' intentions and the nature of the relationship.
12.8.1. Any dispute, controversy, or claim arising out of or in connection with this Agreement shall be submitted to the non-exclusive jurisdiction of:
the courts of the Union of the Comoros or
the courts of the jurisdiction where the IB is domiciled or incorporated, provided that such
jurisdiction, in the Company's reasonable assessment, offers fair, impartial, and enforceable
commercial dispute resolution procedures.
The claimant Party may elect the forum. Each Party irrevocably waives any objection to the chosen jurisdiction on the grounds of forum non conveniens or similar.
12.9. No Waiver. The waiver or failure of either Party to exercise any right provided in this Agreement shall not be deemed a waiver of any other right or remedy to which the Party may be entitled.
12.10. Severability. If any provision of this Agreement is invalid, illegal, or unenforceable, the remainder of this Agreement shall remain in full force and effect.
12.11. Appendices A and B form an integral part of this Agreement. In the event of a conflict between the body of this Agreement and any Appendix, the terms of the relevant Appendix shall prevail with respect to the subject matter it governs.
Appendix A - Fee Schedule
This Appendix forms part of the Introducing Broker Agreement.
IB Tiers and Commission Structure:
Tier Upgrade Requirements:
To qualify for promotion to the next tier, an IB must meet the required client & trading volume criteria within a 90-day evaluation period.
If the IB fails to meet the requirements for promotion, they will remain in their current tier until the next evaluation.
Tier changes will follow a one-step progression system.
A grace period of up to one month will be granted to IBs to meet their requirements after receiving a warning about underperformance.
After the grace period, if the IB brings in a lower volume than their current tier requirements, they will be moved to a lower tier that aligns with their performance.
Any activity that violates company policy, the terms of engagement, or leads to non-performance will result in an immediate downgrade to the Silver Tier.
Notes:
"Active Clients" are clients who have executed at least 3 qualifying closed lots within the past 90 days.
Only trades that meet all the following criteria will qualify for IB Commission:
-Trade duration of at least 180 seconds.
The Company reserves the right to amend the Fee Schedule and shall notify the IB in writing of any changes.
The Company reserves the right, at its sole and absolute discretion, to:
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Suspend, reduce, or entirely withhold IB Commission payments if it determines that the IB has failed to meet the requirements of this Appendix.
Reclaim any previously paid commissions if it is later found that the IB was not in compliance at the time such payments were made;
Terminate the Agreement in the event of repeated or material non-compliance.
Nothing in this Appendix shall be construed as limiting the Company's other rights or remedies under the Agreement or applicable law.