You acknowledge and agree that your use of the investnation mobile application as defined below (being this application and any updates) for account opening and onboarding is at your own risk, and therefore FH Capital P.J.S (“FH Capital”) shall not bear any responsibility or liability in this respect in any event. Neither FH Capital’s directors, officers, or employees nor any of FH Capital’s, group entities, affiliates (“Group Entities”) and/or any of their respective directors, officers, or employees are responsible for any loss or damage arising directly or indirectly from any malfunction or failure of the investnation mobile application. The investnation mobile application is provided by FH Capital on an “as is” basis. Under no circumstances shall FH Capital, its employees, and/or its contractors be liable for any direct, indirect, incidental, special, punitive, or consequential damages that may result in any way from their reliance on the information you will provide hereunder.

As part of the Discretionary Portfolio Management Account opening process with FH Capital, you hereby certify that the information that you provide as part of the investnation mobile application is true and accurate. You understand that providing false information, withholding relevant information, or responding in a misleading way may result in the rejection of your application and/or other appropriate action taken against you. By proceeding with this investnation mobile application and by providing us with your information, you acknowledge and agree that FH Capital may share your information with third parties, and you understand and agree that FH Capital may be required to make disclosures in relation to the information that you provide to the relevant government authorities and/or other regulatory local or global authorities. You irrevocably permit FH Capital to make such disclosures to any such authorities without obtaining further prior written or oral consent from you.

You agree that FH Capital reserves its right to reject the application at its sole discretion without providing any reason whatsoever.

TERMS AND CONDITIONS (PREPAID CARD)

These terms and conditions form the Agreement governing the use of the prepaid card issued by Finance House LLC (“Finance House” the “Issuer”) in the United Arab Emirates which shall be referred to as the (“Agreement” or “Prepaid Card Terms and Conditions”).

We reserve the right to amend this Agreement at any time, by adding, deleting, or changing provisions of this Agreement. All amendments will comply with the applicable notice requirements in the United Arab Emirates that are in effect at that time.

Your prepaid card (the “Card”) is issued by Finance House pursuant to a license MasterCard Payments Services LLC holds a license from the Central Bank of UAE and shall provide you with the Card Services as mentioned in the present Terms and Conditions.

By requesting for issuance of and /or using the Card issued by us, you confirm and agree that you understand, accept and shall comply with these Terms and Conditions, and you understand and agree that the issuance of the Card to you is subject to your identity being successfully identified by us in accordance with the policy and procedures notified to you at the time of issuance of the Card. Your Card is non-transferable, and it may be cancelled, repossessed, or revoked at any time without prior notice subject to applicable law or non-compliance of the Card Terms and Conditions.

Definitions and Interpretation

In these Terms and Conditions, the following terms shall have the following meanings:

“Additional Terms” means the specific Terms and Conditions, which may apply to prepaid cards as described herein for such Card.

“AED” means United Arab Emirates Dirhams, currency of United Arab Emirates.

“AED” means United Arab Emirates Dirhams, currency of United Arab Emirates.

“App” means investnation mobile Application, which is offered by FH Capital and provides Cardholders the ability to apply for the issuance of the card, and other services and functionalities that may include managing the Card Funds and undertake certain transactions in accordance with the App and terms and conditions.

“ATM” means Automated Teller Machine.

“Card Funds” means the available balance in the Card and through the investnation mobile application that is available for utilization or withdrawal, as reduced by any Transaction amounts which have been reserved, blocked, and pending or have otherwise not been processed or released.

“Base Currency” refers to the default currency and any Transaction performed by you in a currency not available on the Card will be converted into the Base Currency. The Base Currency for your Cards is Emirati Dirhams (AED).

“Card” means each prepaid card issued by Finance House to you, whether it is a physical Card or a virtual Card. We may offer different types of prepaid Cards, which may be subject to Additional Terms and Conditions. Any references to ‘Card’ also include any Replacement Card, and/or any Supplementary Technology deployed by us for use with your Card where appropriate.

“Card Number” means the unique sixteen-digit number printed or embossed on the face or reverse of the Card, or as displayed on the App.

“Card Services” means any services provided by us, our third-party service providers in connection with the Card, including call centre services.

“Cardholder” means the person whose name is on the Card in reference.

“Charges” means amounts (including any Fees or Charges) payable by you arising from usage of the Card under these Terms and Conditions and are subject to change from time to time.

“Conversion Rate” means the rate of exchange applied to a transaction not in the base currency.

“Country” means The United Arab Emirates (UAE).

“Currency” means any amount of Emirati Dirhams (AED) that we may make available in connection with the Card from time to time and includes, without limitation, all Transaction Fees, service Charges, additional expenses, damages, legal costs, and disbursements.

“E-commerce website” means internet websites where merchant (Retailer) accepts the Card for purchase of goods and services.

“Identification Checks” means checks carried out in order to obtain, verify and record information that identifies each person who purchases or loads funds onto a Card. We may ask you for your name, address, date of birth, and other information, directly or indirectly, that will allow us to reasonably identify you. We will ask to see your ID and/or other identifying documents where required.

“Issuer/Finance House” means Finance House LLC.

“Limit” means the limit set by us for usage on the Card for cash withdrawal or purchase of goods and services, subject to the Available Funds. We may change the set limit on the Card at any time at our sole discretion.

“Load” “Loaded” “Loading” means to add money to the Card, and ‘Loaded’ and will be construed accordingly.

“Merchant” means any establishment, retailer, corporate entity, person, or other virtual establishment, supplying goods and/or services, which accepts/honors the Card as a mode of payment.

“Partner” means the App provider FH Capital P.J.S.

“Personal Data” means any information and data in any form that relates to a natural person, which either directly or indirectly, in combination with other information available or likely to be available with us, is capable of identifying such person (e.g., telephone number, name, address, transaction history etc.).

“PIN” means a unique Personal Identification Number allocated to each Card.

“Primary Cardholder” means the name used to issue the Card.

“POS Terminal” means Point of Sale or an electronic terminal available at Merchants whether local or international, capable of processing Transactions.

“Replacement Card” means a substitute Card, which may be issued to you in the event of the loss or theft of your Card.

“Restricted Use” means countries and regions in which the use of the card is currently prohibited. Countries and regions with restrictions include Iran, North Korea, Crimea, Sudan. Restricted use may also apply to certain Merchant Category Codes (MCCs). These restrictions may be amended from time to time.

“Shortfall” occurs in certain circumstances when the Available Funds and/or in the case of the Card a particular currency drops below zero (0).

“Tokenization” means any technologies or devices that we may introduce for use together with, or as a replacement for, your Card and which may include without limitation, wristbands, and mobile wallets.

“Transaction” means transactions made by using the Card, whether with or without use of the Card Number, PIN or signature, and regardless of whether any slip or other voucher was signed by you and includes any cash withdrawal made available by you or the amount charged (or otherwise debited to the Card) by us or a Merchant for any goods, service or benefit (whether or not such service was utilized by you) obtained by the use of the Card, the Card Number or the PIN or in any other manner, including mail, telephone, facsimile or internet orders.

“we,” “us,” “our” Issuer/Finance House; and any other partner or third party we may work with in respect to the issuance, management, or distribution of Cards.

“Website” means the website at the URL or any future URL applicable to your Card.

“Business Day” means Monday to Friday from 8 AM to 5 PM, excluding any day in the UAE that is officially declared as a bank holiday, unless otherwise stipulated.

“you,” “your” means the owner of the Cards and the person legally responsible for all Cards issued.

1.  The Card

1.1.To apply for a Card as a Primary Cardholder, you must be at least eighteen (18) years old and a United Arab Emirates (UAE) resident. We may ask to see evidence of who you are and your address. We may ask for documentary evidence to prove this and/or we may carry out checks on you electronically.

1.2. When we perform electronic checks, personal information provided by you may be disclosed and processed by the Partner and a third-party service provider who may keep a record of that information. By purchasing or requesting a Card, you agree to your Personal Information being passed to such agencies for this purpose. 

1.3.The Card allows You or the Cardholder to access the Available Funds which You or the Card holder have loaded on to the Card and can be used to buy goods and services in-person and online, and to withdraw cash at cash machines, including other supported functions which may be subject to transaction limits and/or validity periods as determined by the Issuer.

1.4.The spending capacity of the Available funds is conditional upon the limits set by the Issuer.

1.5.This Card is not connected to checking, savings, or other bank account.

1.6.Your Card is a prepaid card and is not a debit card or credit card.

1.7.There will be no interest earned on any Available Funds on the Card.

1.8.Your Card will be issued to you on the basis that the required information that you have provided is accurate and valid. You agree to update us of any changes to your personal information when such change occurs, or as we may request of you to confirm or update from time to time.

1.9.  The approval of the Card is subject to successful verification of your identity by the Issuer. 

1.10.Activation of your Card will be affected after successful onboarding and KYC check.

1.11.Various limits may apply to the Card in respect of individual Transactions, as well as daily and weekly transacted amounts as determined by the Issuer.

1.12.The use of the Card for making any Transaction shall constitute an agreement by you to pay any and all fees, commission, and charges on such Transaction as prescribed from time to time. You confirm that you have read and agreed to the schedule of fees, commission, and charges for usage of the Card for any Transaction. The Card is provided to you subject to our schedule of fees, charges, and limits as amended and notified to you.

1.13.As the applicant, you are responsible for all Cards issued to you under the Agreement and for any fees or charges that these Cards may incur.

1.14.We may at our sole discretion issue / restrict /withdraw any number of Cards that relate to you.

 

2. Using the Card

1.   

2.   

2.1.If the Card holder wants to make a Transaction using their Card or Card details, they will need to authorize it by using their Card, a PIN number, your signature or other security code, password, biometric data or other personal identifier, or a combination of these. Where contactless payments are available, they can also authorize a Transaction by touching the payment terminal with their card or device. We cannot cancel or stop a Transaction once they have authorized it.

2.2.The Card may only be used in accordance with the Agreement, and we have the right to restrict the services/facilities provided pursuant to the issue/usage of the Card at our sole discretion and terms.

2.3.Subject to sufficient Available Funds and any restrictions in the Agreement, the Card can be used worldwide at ATMs, POS Terminals or E-commerce website or any card operated machine or device, where logos appearing on the Card are displayed/ accepted and any other services so authorized on the Card by us. The Card may also be used at any Merchant location that accepts the Transaction for processing or displays the logo appearing on the Card. The Card may be used for retail purchases, cash withdrawals, purchase of goods and services via the internet, telephone, facsimile, and mail order or for any other services approved by us, for Transaction values not exceeding the Limit (subject always to sufficient Available Funds) from time to time and/or transferring the available balance to other bank accounts..

2.4.The Available Funds will be reduced by the full amount of each Transaction plus any applicable Charges.

2.5.Due to restrictions, the Card may not operate in some countries and may not be accepted at some Merchant locations which are not in compliance with either our internal policies or those whose MCC’s have been blocked by us. 

2.6.Merchants that accept the Card are required to seek authorization from us or through any appointed payment processor for all Transactions that are made, and we cannot stop a Transaction once authorized. Some Merchants may not be able to authorize the Card Transaction if they cannot obtain an online authorization from us.

2.7.Some Merchants may place a hold on an amount greater than the value of Transaction that the Cardholder wishes to make, which requires a pre-authorization for such an amount. This requires the Cardholder to have Available Funds greater than the value of the expected Transaction. This extra amount will be reserved to cover things like tips/gratuities, temporarily reducing the balance available on the Card. However, the Card will only be charged for the actual and final amount of the Transaction you make. Excess amounts held beyond the final Transaction amount will be released within 21 days.

2.8.The Card is only meant for the Cardholder’s use and expires on the date on the front of the Card and may be extended for a limited period subject to the Agreement. Upon expiry, you may be able to transfer the remaining funds to a new Card in accordance with our prevailing policy.

2.9.You agree that the Card will not be used in any manner that could damage, disable, overburden, or impair the Card. You also agree that the Card will not be used for money transfers, accessing, or purchasing goods from adult or gambling locations or internet sites, or for any other unlawful activity or other restricted merchants as applicable.

2.10. You must comply with all applicable laws and regulations (including any foreign exchange controls) with respect to the Card in the issuing country and the country of use. We reserve the right to suspend the Card, terminate this Agreement and exercise any other remedies available to Us due to your failure to comply with any part of this provision. You agree that we have no obligation to monitor, review or evaluate the legality of your Transactions and that such actions shall be your sole responsibility. We are not liable for any prohibited use or misuse of the Card whatsoever. The Card can only be used if it has sufficient Available Funds, and the Cardholder is solely responsible for ensuring that there are sufficient Available Funds for an intended Transaction. If, for any reason whatsoever, an intended Transaction causes the Card to be debited in excess of the Available Funds (whether by use of the Card or towards any fees or charges), You are responsible for any shortfall on the Card.

2.11. We are entitled to set off any sum of money on the Card due from you to us against any positive balance in the Card held by you with us.

2.12. Our record of any Transaction shall be final and binding. You will not be provided with a printed statement (through App) and can check your Available Funds via the App. You may also be able to make a balance enquiry at some ATMs, although availability is dependent on the country and the ATM used and there may be a fee payable (to the ATM operator) for balance enquiries. It is your responsibility to keep track of the Available Funds. You acknowledge that the amount stated on the ATM screen, or a printed slip or receipt advice shall not for any purpose whatsoever be taken as a conclusive or up to date statement of the Card.

2.13. You acknowledge that the available balance in the Card may be different from the balance amount as displayed through any channel, due to pending Transactions or other blocked amounts (being amounts transacted but not processed) relevant to the Card.

3. Loading and Re-loading

3.   

3.1.The Card can be loaded through a wire transfer through any channel as and when made available by us.

3.2.Your Available Funds are safeguarded in a card management system with Finance House and will only be used for settling any spend on your Card and any applicable fees and charges.

3.3.Until the expiry of the Card or termination of the Agreement, you can load additional funds to the Available Funds through the supported channels or through other methods made available by us from time to time, subject to certain Limits and fees.

3.4.Unless stated otherwise, the Loaded amounts will be credited to the Available Funds when the Issuer receives such amounts directly or indirectly through the permitted channels.

3.5.If the Load amount exceeds the maximum balance permitted by us from time to time, then at our discretion such excess amounts shall not be loaded and shall be returned to its point of origin.

3.6.We are authorized to withhold any Load and will not release the funds in relation to such Load if we have reasonable grounds to believe that such funds are from suspicious, illegal, or illegitimate sources. We will contact you for further information and such other necessary proof (to our satisfaction) on the source of such Loads. If we are not satisfied with such information or proof, we are authorized to surrender such amounts without any further notice to you, to the relevant law enforcement authorities for further investigation and/or legal action

3.7.You give us irrevocable authorization to recover any funds erroneously loaded to your Card. If an authorized reload to your Card has an error or if you require additional information, you must contact us immediately.

 

4. Keeping your Card and PIN secure

4.   

4.1.You may be required to sign the back of the Card as soon as you receive it if it has a signature strip on the back.

4.2.You and the Cardholder must do all that you reasonably can to keep the Card safe and the PIN and other security details secret and safe at all times and not disclose them to any third party. 

4.3.You must never; (i) allow anyone else to use the Card, PIN, or other security details; (ii) write down the PIN or any other security information together with the Card; or (iii) give the PIN to anyone, authorized or unauthorized.

4.4.We will never ask you to reveal Your PIN.

4.5.The PIN may be disabled if an incorrect PIN is entered three (3) times. If the PIN is disabled, please contact us. If the PIN is disabled, or if a Merchant does not accept Chip and PIN, you will be required to sign for any Transactions at Merchants, provided that this is supported by and acceptable to the Merchant.

4.6.You must promptly notify us of any loss or theft of the Card or PIN. We will suspend the Card to prevent further use. If a lost Card is subsequently found, it must not be used unless we confirm it may be used. We will not be liable for any misuse of the Card or unauthorized withdrawal arising out of the loss, theft or misuse of the Card or the PIN. You can avail for a Replacement Card in the event of loss or theft of your Card subject to you providing the necessary documents and information. Issuance of a Replacement Card is subject to a Fee.

4.7.You will be required to confirm details of any loss, theft, or misuse to us in writing or through the call centre and you must assist us, the police, and any other official investigation authority in any enquiries.

4.8.We may refuse to approve a Transaction and/or suspend the Card, with or without notice, if we think the Card has been or is likely to be misused or if you have breached the Agreement, including if we suspect any illegal use of the Card. If we do suspend the Card, we will inform you of our decision, unless such disclosure is prohibited by law or would otherwise compromise fraud prevention or security measures.

4.9.We may suspend the Card, at any time, with or without notice, if we think the Card has been or is likely to be misused, or if you breach any important term or you repeatedly breach any term and fail to remedy it, or if we suspect any illegal use of the Card. We may also suspend the Card upon request of the card scheme or any authorized regulator. If we do suspend the Card, we will inform you of our decision, unless such disclosure is prohibited by law or would otherwise compromise fraud prevention or security measures.

5.   Unauthorized Transactions

5.   

5.1.You must notify us of any unauthorized Transactions through our Card Services number without undue delay or through the Partner dispute handling email [please insert the email] and in any event no later than one month (1) month of the Transaction debit date. We will request that you provide additional written information concerning any such Transaction and you must comply with such request.

5.2.Cardholders have the option to temporarily block their Card from the App. Following this action, You may request permanent suspension of the Card by sending an email to [support@investnation.com] or through other means provided by us and then apply for the issuance of a new Card.

 

5.3.You will be liable for all losses in respect of the Card if you have (i) acted fraudulently; (ii) failed to use the Card in accordance with the Agreement; (iii) have failed to notify Us without undue delay on becoming aware of the loss, theft or misuse of the Card; or (iv) have failed to take all reasonable steps to keep the Card’s security features safe.

5.4.Any disputes arising from Unauthorized Transactions will be in accordance with the Payment Network Rules.

5.5.You should check your Transaction history regularly. If you notice an error or a card Transaction that You do not recognize, you must tell us as soon as possible and no later than (1) month from the date of the Transaction debit date. 

We may also ask for additional information to help us investigate. We will not refund any unauthorised Transaction if we think that: 

· You have acted fraudulently.

· You have intentionally or with gross negligence failed to use the card in accordance with these Terms and Conditions. 

· You have intentionally or with gross negligence failed to take reasonable steps to keep the personalised security details safe; or 

· You have failed to notify us without undue delay. 

Even if we have refunded you for any unauthorised Transaction, we may later deduct the amount refunded from your Card if we conclude after further investigation that you authorised the Transaction or you were not entitled to a refund or you acted fraudulently.

5.6.Merchant Disputes: If you have a dispute concerning the quality of goods or services bought with the Card. We will not be able to refund you unless the Merchant (retailer) agrees to it. If you have agreed that a retailer can take payment from your card, we will only be able to initiate your claim if all the following conditions apply: 

· the amount charged exceeds the amount you reasonably expected and agreed to pay; and 

· You did not receive the purchased item(s). 

5.7.You must also give us any additional information that We ask for that is reasonable, for us to investigate whether you are entitled to a refund or not.

6.   Transactions, Fees and Limits

6.   

6.1.Fees and Limits apply to the Card, as indicated in the Fee Schedule. The Fees we charge are subject to change from time to time, in accordance with this Agreement.

6.2.You agree to pay and authorize us to debit the Available Funds for the fees set out in the Fee Schedule. These Fees may be debited from the Available Funds as soon as they are incurred.

6.3.From time to time, we may limit the amount you can load on the Card, or the amount you can withdraw from ATMs or spend at Merchants over certain time periods. Some ATM operators also impose their own limits on the amount that can be withdrawn or spent over a specific time period.

6.4.Certain Merchants may charge an additional Fee if the Card is used to purchase goods and/or services. The Fee is determined and charged by the Merchant by including it in the Transaction amount and is not retained by us.

6.5.For instance, you withdraw cash from an ATM that dispenses a currency other than that of the country where the ATM is located, the merchant or ATM operator may convert the cash being withdrawn into the domestic (local) currency before converting it back to the cash being dispensed. It might occur even though the cash being dispended is the same as that of one of your Card. Thus, amount debited or reflecting in your account statement may be higher than the amount which is dispensed by the ATM. Not every ATM operator informs of the exact amount to be debited to your Card before you withdraw cash from their ATM.

6.6.The foreign currency equivalent for the above-listed amounts will be determined based on the Conversion Rate or MasterCard Conversion Rate, as applicable.

6.7.For this section, a “day” is defined as a 24-hour period commencing at 12am (UAE Time).

7. Foreign Currency Transactions

7.   

7.1.A foreign exchange rate will apply in the following instances: (i) initial load or reload(s) using the card for a Transaction in a currency which is different to the Base Currency available on the Card; (ii) POS Terminal Transactions where the Transaction is in a currency other than that available on the Card; (iii) ATM withdrawals where the withdrawal currency is not available on the Card.

7.2.If a foreign exchange conversion takes place, the conversion will be undertaken at the prevailing exchange rate determined when loading or reloading your Card.

7.3.Foreign exchange rates are subject to variation and the rate that applies one day will not necessarily be the same on any other day.

7.4.Additional margins may apply in respect of foreign exchange conversions.

8. Tokenization

8.   

8.1.We may make Tokenization available to you for use in conjunction with the Card, which may include wristbands and mobile wallets.

8.2.All Transactions using Tokenization will be subject to the Agreement.

9. Closing your Card

9.   

9.1.To close your Card, you can do so through the App.        

9.2.At your option, you can spend your Available Balance by withdrawing funds at an ATM, spend the funds by transacting at a merchant through one of your Cards or, if applicable, you can request your Available Balance to be returned via bank transfer, with any applicable fees charged by the bank, which will be deducted from the final amount. The transfer will be sent within 7 days.

9.3.All returns may be net of fees, and uncollected Transactions. 

9.4.We will pay you your Available Balance on the closing date. Upon closure of your Card, you may be asked to destroy or return the Card to us. In any event, the Card will be automatically cancelled.

10.  Redemption: Redeeming Unspent Funds

10.  

10.1. You may redeem the balance of any unspent funds into your Bank account. Payment will only be made to a UAE bank account. Redeeming the balance of unspent funds will be in AED.

10.2. A cash out fee may be charged for redeeming unspent funds on the Card at the purchase location or through Card Services if: (i) you redeem unspent funds on the Card before the termination date; or (ii) you redeem unspent funds on the Card and end this Agreement or (iii) you redeem unspent funds on the Card after a period of twelve (12) months from the termination date.

11.  Termination of the Agreement

11.  

11.1. The Agreement shall terminate on the expiry of the Card issued to you under the Agreement, but the termination of the Agreement will not affect any of our rights and outstanding payments.

11.2. We may end this Agreement suspend or block the Card at anytime without the need for a prior written notice.

11.3. You may end this Agreement prior to the termination date at any time by writing to or emailing us.

11.4. Upon ending this Agreement in accordance with the terms and conditions, you will no longer be able to use the Card. The ending of this Agreement will not affect your right (if any) to redeem unspent funds in accordance with the terms and conditions.

11.5. Upon ending the Agreement in accordance with this clause 11, you will no longer be able to use the Card. Where applicable, the ending of the Agreement will not affect your right (if any) to redeem unspent funds in accordance with clause 10 stated in this Agreement.

11.6. This Agreement will not be considered terminated should you cancel your subscription, if there is a period remaining as part of said subscription. This Agreement will terminate when said subscription expires without renewal, or when the total time of the subscription ends.

12.  Changing the Terms and Conditions

12.  

12.1. You are deemed to have read, understood, and agreed to be bound by the present Agreement. At any time, we may change, add, amend, supersede, or supplement any or all of the provisions of this Agreement. Such amendments will be available on the App and will be effective from the date of implementation of such change. Such changes are deemed to be binding on you whether or not you have received specific notice in person of such amendments.

12.2. We may amend the Agreement from time to time, in order to comply with applicable laws and regulations or as needed for our business.

12.3. We will notify you of changes at least two (2) weeks before the change is implemented on the App, with exception that changes that need to be implemented immediately by law. 

13.  Personal Data

13.  

13.1. We protect, control, process and retain Our Customer’s Personal Data for the purposes of providing payment services to you or otherwise to fulfil this Agreement. in accordance with the local applicable data protection laws and regulations including but not limited to the Protection of Personal Data issued by the Central Bank of UAE dated 25/11/2020 (Circular No. 8 – 2020), the UAE Federal Decree Law No. 45/2021 on (the “PDPL”).

13.2. We take all the necessary measures to protect your Personal Data against unauthorized or unlawful processing, accidental disclosure, loss, destruction, or damage. This includes legal, organizational, technical, and physical security measures.

13.3. Your Personal Data will be processed if:

a) You have given consent to the processing of your Personal Data for one or more specific purposes.

b) processing is necessary for the performance of a contract to which you are a party or in order to take steps at your request prior to entering into a contract.

c) processing is necessary for compliance with a legal obligation to which we are subject to; and

d) processing is necessary for the purposes of the legitimate interests pursued by us.

13.4. Why do we collect your Data?

a) Identity establishment and verification, anti-money laundering and terrorist financing measures, provision of Card Services, execution of contractual and other legal obligations

b) Information We may collect: your name, surname, nationality, personal number, date of birth, number of your ID document, a copy of your ID document, address, a photo, email address, phone number, payment account number, IP address, occupation and other information necessary to comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) requirements and to provide You with Card Services.

c) We collect this data directly from You and/or from third parties including but not limited to identity verification service providers and financial sanctions databases.

d) We will store your data for 5 years after expiry of our business relationship. 

e) We can provide this data to supervising institutions, credit, financial, payment and (or) electronic money institutions, courts, law enforcement institutions, tax authorities, payment receivers, lawyers, auditors, other subjects with a legal access to this information and subjects with whom we have a contract but only if you give your consent.

f) Storage and processing of your Personal Data are governed by the laws of the UAE and these User Terms and Conditions. If you refuse to provide this data and or/information or withdraw your consent, we retain the right not to enter into or terminate this Agreement with you and to refuse to provide you with our Card Services.

13.5. We may contact you by telephone, letter, SMS, or email at the contact details you provide us. You must let us know immediately if you change your name, address, phone number or email address. 

13.6. You confirm that you have provided complete and correct information and data about yourself and that afterwards, when changing or adding any data, you will enter only correct data. We will not tolerate invalid, false, incomplete, or incorrect data and will pursue actions in accordance with its legal obligations. You shall bear any losses that occur with regard to the submission of invalid, false, incomplete, or incorrect data.

13.7. By requesting the issuance of or using the Card Services, you authorize Us to disclose and furnish to our authorized representatives, subsidiaries, associates, branches, assignees, agents, or other connected parties and/or our third-party advisors) such information as we deem fit concerning you, including but not limited to, the Card Services governed by this Agreement.

13.8. Your Personal Data may be processed outside of the country where the Card is issued, but we are required to have adequate safeguards in place to protect your Personal Data provided that such processing is approved by the UAE Data Protection Applicable Laws and Regulations.

14.  Liability

14.  

14.1. The Card is issued entirely at your risk. We shall bear no liability whatsoever for any loss or damage arising from the issuance of the Card, however caused. Use of the Card for any Transaction shall be at your sole risk. By requesting the issuance of or using the Card, you confirm assuming any and all financial risks incidental to or arising out of the Card’s usage with no further liability to us.

14.2. You agree to fully indemnify us and hold us harmless against any and all actions, proceedings, costs, losses, or damages (including legal costs) we may suffer in connection with the usage of the Card any misuse of the Card, PIN and/or other facilities provided to you in relation to the Card. This includes any liability arising from your failure to maintain safe custody of the Card at any time before the Card is cancelled.

14.3. You hereby agree to fully indemnify and hold us, our officers, employees or agents harmless against any liability, loss, charge, demand, proceedings, cost (including legal fees), or expense, which We may suffer, pay or incur as a result of Us, Our officers, employees or agents acting upon or delaying or refraining from acting upon instructions of you or purporting to be from You or which We believe have been issued by or for You or in any way in connection with the Card or the Agreement, or in enforcing these Terms and Conditions and in recovering any amounts due to Us or incurred by Us in any legal proceedings of any nature.

14.4. We will not be liable to you for: delays or mistakes resulting from any circumstances beyond Our control, including, without limitation: (i) acts of governmental authorities, national emergencies, insurrection, war, or riots; (ii) the failure of Merchants to accept or honor the Card; (iii) the failure of Merchants to perform or provide services or goods; (iv) communication system failures; (v) interception of communications; or (vi) mechanical defects, failures or malfunctions attributable to Your equipment, any internet service, or any payment system.

14.5. We are not responsible for ensuring that ATMs and POS Terminals will accept the Card, or for the way in which a Merchant processes a Transaction. We will not be liable to you for any non- acceptance of the Card, for disputes concerning the quality of goods or services purchased on the Card or any additional fees charged by the operators of these terminals (for example, when You withdraw currency from an ATM, the ATM operator may charge You an additional fee for the service).

14.6. Information sent over the internet may not be completely secure and the internet and the online systems are not controlled or owned by us. Therefore, we cannot guarantee that they will function at all times, and we accept no liability for unavailability or interruption, or for the interception or loss of any information or other data.

14.7. We will not be liable under any of the following circumstances:

a) If, through no fault of ours, there are insufficient funds available on the Card to complete a transaction.

b) If the Card is not honored, is declined, is damaged or is confiscated at any ATM or POS Terminal for any reason.

c) If the Card is not honored or is declined at any Internet Merchant location for any reason.

d) If an ATM where you are making a cash withdrawal does not have enough cash.

e) If an electronic terminal where you are making a Transaction does not operate properly.

f) If a Load has been declined due to our discretion.

g) If access to the Card has been blocked after you have reported the Card lost or stolen.

h) If there is a hold or your funds are subject to legal process or another encumbrance restricting their use.

i) If we (in our sole discretion) have reason to believe the requested Transaction is unauthorized.

j) If circumstances beyond our control (such as fire, flood or computer or communication failure) prevent the completion of the Transaction, despite reasonable precautions that we have taken.

k) Any consequential damages, extraordinary damages, special or punitive damages; and

l) Any other exception stated in this Agreement.

 

14.8. In the event that we are held liable to you, you will only be entitled to recover your actual damages. In no event shall you be entitled to recover any indirect, costs (including legal costs) consequential, exemplary, or special damages (whether in contract, tort or otherwise), even if you have advised us of the possibility of such damages. This provision shall not be effective to the extent otherwise required by law. To the extent permitted by law, you agree that your recovery for any alleged negligence or misconduct by Us or service agents shall be limited to the available balance on the Card.

15.  Disclaimers

15.  

15.1. We shall be absolved of any liability in case:

a) You fail to avail the usage of the Card due to force majeure conditions including but not limited to natural calamities; legal restraints or any technical lapses in the telecommunication network or any other reasons beyond our actual control. Also, we are herein absolved of any kind of liability arising due to a loss; direct or indirect incurred by you or any other person due to any lapse in the facility owing to the above-mentioned reasons.

b) not being in the required geographical range. 

c) there is any unauthorized use of the PIN, or for any fraudulent, duplicate, or erroneous Transaction instructions given by use of the PIN (unless confirmed by us to you that the Card is blocked or cancelled).

d) there is loss of any information during processing or transmission or any unauthorized access by any other person or breach of confidentiality.

e) there is any lapse or failure on the part of the service providers or any third party affecting the usage of the Card (and for this purpose, we make no warranty as to the quality of the service provided by any such provider).

f) any loss or damage whether direct, indirect or consequential, including but not limited to loss of business, contracts, or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by you or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error by us in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from your telecommunication equipment and the network of any service provider and our system or any breakdown, interruption, suspension or failure of your telecommunication equipment, our system or the network of any service provider and/or any third party who provides such services as is necessary to provide.

15.2. We shall not be involved in or in any way liable to you for any dispute between you and a cellular services provider or any third-party service provider (whether appointed by us in that behalf or otherwise).

15.3. We shall not be held liable for any loss incurred by you due to use of the Card by any other person with your express or implied permission. We shall not be held responsible for the confidentiality, secrecy, and security of the personal or Card information being transmitted for effecting your instructions.

15.4. We shall not be held liable for any loss suffered by you due to disclosure of the personal information to a third party by us, for reasons inclusive but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for statistical analysis or for credit rating.

15.5. We will endeavor to make sure the Card continues to function, but its operation may be subject to interruptions and/or require periodic modifications and improvements; and to help reduce the risks, we may from time to time set revised limitations on the Transaction size, Loading amounts and other features of the Card.

16. Communication and Notices

16.  

16.1. If you have any queries regarding the Card, please refer to the App otherwise call printed on the back of your card.

16.2. You agree that we may communicate with you by email or SMS or through the App for issuing any notices or information about the Card and therefore it is important that you ensure that you keep your email address or mobile phone number updated and regularly check the App.

16.3. We may record and shall keep a record of your application form, identification documents, and request forms as well as any electronic, written, or verbal communications for as long as we consider appropriate. This information will be kept secure as per data protection law requirements in the UAE.

16.4. You agree that all the telephone calls between you and us may be tape recorded by Us and that such recording may be submitted in evidence in any proceedings.

16.5. Save as otherwise provided in this Agreement, any demand or communication made by us under the Agreement will be in writing in English and/or Arabic and

16.6. Any notice sent by either party under this Agreement by email shall be deemed given on the day the email is sent; and if by post, shall be deemed given three (3) Business Days after the date of posting at the address provided by you (or such other address as you may notify us from time to time).

17.  General Provisions

17.  

17.1. In addition to any general right to set-off or other rights conferred by the law to us, you agree that we may in our absolute discretion at any time and without notice combine and consolidate all or any amounts in any Card or any Wallet of yours regardless of currency to set-off or transfer any amount in such Card in or towards discharge of all amounts due to us under any Card or Wallet with us whether in local currency or any other currency and may do so notwithstanding that the balances on such Cards or Wallets and the sums due may not be expressed in the same currency and you hereby authorize us to offset any such combination, consolidation, set-off or transfer with the necessary conversion at our prevailing exchange rates which shall be determined by us at our absolute discretion.

17.2. No forbearance, neglect, or waiver by us in the exercise or enforcement of any right or remedy arising from this Agreement will prejudice our right thereafter to strictly enforce the same.

17.3. No waiver by us will be effective unless it is in writing.

17.4. If any provision in this Agreement is found to be unenforceable, invalid, or illegal, such provision will be deemed to be deleted and the remainder of these Terms and Conditions will be unaffected by such unenforceability, invalidity, or illegality.

17.5. We shall not be liable for our inability to pay due to restrictions on convertibility or transferability, requisitions, involuntary transfers, acts of war or civil strife or other similar causes beyond our control. In such event no other office, branch, subsidiary, or affiliate of ours shall be responsible or liable to you.

17.6. We are entitled to record all communication and conversations (including telephone conversations) with you and/or any authorized representative of yours and messages and/or instructions sent to us whether by telephone, in person, voice, use of a touch-tone keypad, electronically or otherwise and Transactions conducted by or through any such medium. Our record of all such communications, conversations, instructions, messages, and Transactions will be conclusive and binding on you for all purposes.

17.7. We may assign any of our rights and obligations under the Agreement, without your prior consent, to any third party, subject to such party continuing the obligations in the Agreement to you. You are not permitted to assign your rights and obligations under the Agreement to any third party.

18.  Law, Jurisdiction

18.  

18.1. The Agreement and any disputes, which arise under it, shall be governed by the laws of the issuing country and applicable federal laws of the United Arab Emirates (UAE), and is submitted irrevocably to the non-exclusive jurisdiction of the courts of Abu Dhabi, United Arab Emirates.

 

INVESTNATION GENERAL TERMS AND CONDITIONS

1. Client’s Relationship with FH Capital

1.1.  FH Capital is a financial institution duly licensed by the Securities & Commodities Authority (“SCA”) to conduct, inter alia, the business of securities portfolio management activities under the Second Category (Dealing in Investment) of SCA licensing categories.

 

1.2. The Client is desirous to appoint an investment manager with discretionary power (without Client’s intervention) in relation to certain investments in stocks, shares, derivatives, bonds, warrants, securities, commodities, moneys and/or other investment instruments as may be made available through the investnation mobile application; and

 

1.3. FH Capital is willing to act as an investment manager for the Client in the manner determined hereunder.

1.4. These Terms and Conditions, as amended from time to time, are the general terms governing your relationship with FH Capital through the investnation mobile application and shall apply to all Services to be provided to you by FH Capital subject to any express agreements to the contrary. For your own protection, you should read these Terms and Conditions carefully before accepting them. If you do not understand anything in these Terms and Conditions, please consult with your own legal advisor. The legal and contractual relationship between you and FH Capital is determined by these Terms and Conditions and any additional terms and conditions specific to a service (“Additional Terms”) or to a Third Party Service, the Discretionary Portfolio Management Account offered through the investnation mobile application, and any additional document(s) you are required to sign to implement the provisions of either these Terms and Conditions or to incorporate any special arrangements agreed between you and FH Capital as may be applicable to you. 

1.5. By accepting these Terms and Conditions, you agree and confirm that you have read and understood the provisions hereof and you have agreed for yourself and any successors to be bound by these General Terms and Conditions and any other arrangements applicable to you through the investnation mobile application.

1.6. We reserve the right to modify or amend these Terms and Conditions at any time without prior notice. Your continued use of the Services through the investnation mobile application following our posting of changes to the Terms and Conditions will mean you accept those changes. It is recommended that you review these Terms and Conditions periodically for any updates or changes.

2. Definitions and Interpretation

“App” means investnation mobile application

“Client” means any person to whom FH Capital provides the Services herein.

“Client Agreement” means any and all agreements entered into between FH Capital and the Client in connection with the relationship through the investnation mobile application between FH Capital and the Client, including, without limitation, these General Terms and Conditions, Additional Terms, the Privacy Policy, the Discretionary Portfolio  Management Account and any other documents annexed or related to any of them, as amended from time to time, which are to be construed as one document together constituting the agreement between the parties.

“Client Portfolio”: means the type of discretionary accounts that each Client select based on his/her investment capacity and preference through the investnation mobile application.

“FH Capital” or “FHC” means FH CAPITAL P.J.S, a private joint stock company duly organized and incorporated in Abu Dhabi, UAE under Commercial Registration Number CN-1012067 and licensed by SCA, license no. 603043 to undertake the activities of Investment Management – Portfolio Management under Category 2 (Dealing in Investment), and having its principal place of business at: FH Cube – 842 Hazza Bin Zayed The First St – Al Nahyan Zone 1 Abu Dhabi, Email: support@investnation.com (“Registered Address”) or any successor or nominee, acting in any capacity in the provision of the Services.

“General Terms and Conditions/ or Terms and Conditions” mean these General Terms and Conditions as they relate to the provision of the Services to the Client by FHC, as amended or restated and notified, when needed, to the Client from time to time through the investnation mobile application.

“Discretionary Portfolio Management Account (“DPMA”)” means the account with FHC that the Client deposit funds as may be required to enable FHC to perform its duties under these Terms and Conditions.

Discretionary Portfolio Management Account Services (“DPMAS”): means the services provided by FHC under the Discretionary Portfolio Management Account through the investnation mobile application.

“investnation” means the mobile application, which FHC provides its product and services.

“SCA” means the Securities & Commodities Authority in the UAE.

“Services” collectively mean, all the services that may be undertaken by FHC to and for the Client and/or provided by FHC from time to time in accordance with the Client Agreement, including without limitation:

· Prepaid card.

· Discretionary Portfolio Management Account Services (*) through the investnation mobile application.

“Third Party Services”

means any services provided by a third party whether directly or indirectly offered through any of the Services.

“Third Party Provider”

means any third party providing any services whether directly or indirectly offered through any of the Services.

“UAE” means the United Arab Emirates.

“we/us/our” means FH Capital or FHC.

“you/your/yourself” means the Client, or any successor or nominee or personal representative, acting in any capacity in the receipt of Services and, where the context requires, including any person(s) to whom we provide Services pursuant to the Client Agreement.

1.    

2.    

2.1. Capitalized terms, which are not otherwise defined in these General Terms and Conditions shall have the meanings given to them in the remaining documents of the Client Agreement through the App.

2.2. In these General Terms and Conditions, the following general rules of interpretation shall apply unless the context otherwise requires:

(a) words importing the male gender shall be deemed to include the female gender and vice versa, where the context so requires.

(b) singular words shall be deemed to include the plural and vice versa, where the context so requires.

(c) references to persons shall be deemed to include natural persons, bodies corporate, unincorporated associations, and partnerships, or two or more of the foregoing; and

(d) any ambiguity shall be construed in favor of FHC.

3.  Access to the investnation Mobile Application

3.  

3.1. These Terms and Conditions through the App shall apply throughout our relationship. Where you choose to obtain products and services from us or Third-Party Services, which are not covered under these Terms, we will provide you with additional terms that will apply to those specific products and services. In the event of conflict or inconsistency between terms, these Terms and Conditions shall take precedence unless otherwise specified.

3.2. By downloading, accessing, or using our App, you agree to be bound by these Terms and Conditions, which establish a contractual relationship between you and FHC. If you do not agree to these Terms and Conditions, you may not access or use the App. These Terms and Conditions and the Client Agreement expressly supersede prior agreements or arrangements with you.

4. Representations and Warranties

4.    

4.1. At the time of accepting these Terms and Conditions through the App, you represent and warrant to us that you are:

a) duly authorized to enter into these Terms and Conditions.

b) over the age of 18 and having a valid Emirates ID.

c) the sole owner of the funds invested into the DPMA, and the only person entitled to the funds and/or assets held in your DPMA.

d) eligible to enter a legally binding agreement with us in accordance with the laws governing the jurisdiction applicable to you.

e) you will only access and use our Services for your own personal benefit.

f) you have the sufficient experience and understanding of the relevant financial market, products, or transactions to be able to evaluate the merits and risks of entering into the Client Agreement.

g) neither the entry into these Terms and Condition, or use of the Services, nor the giving of any other instruction will violate any law, rule, or regulation applicable to you.

h) all money that you use and invest through the Services do not originate in any way from drug trafficking, abduction, terrorist activity, or any other criminal activity that is unlawful or could be considered unlawful by any relevant authority.

i) you have not and will not upload or transmit any malicious code to the App or otherwise use any electronic device, software, algorithm, and / or dealing method or strategy that aims to manipulate any aspect of the App or the Services.

f) you will use the Services offered by us pursuant to the Client Agreement honestly, fairly, and in good faith; and

g) you will promptly notify us if any of these representations and warranties cease to be true.

4.2. If you breach any warranty or representation made under these Terms and Conditions, we may close or freeze your DPMA through the App.

5. Appointment

5.    

5.1. The Client hereby appoints FHC, and FHC hereby accepts, to act as:

(a) An investment manager with discretionary power and agent of the Client to carry out the powers set out in the Authorization (as defined in clause 8.1 below); and

(b) a custodian for the purpose of holding certain investments on behalf of the Client.

5.2. In performing its functions under these Terms and Conditions, FHC shall have absolute discretion with respect to the acquisition, retention, and/or disposition of assets for the Client whether such assets be stocks, shares, derivatives, bonds, warrants, securities, commodities, moneys, deposit instruments and/or other investment instruments as FHC sees fit (referred to as “Investments”) through the App.

6. DPMA

6.   

6.1.  The Client shall open a DPMA with FHC through the App and deposit such funds in the DPMA vide the prepaid card issued as may be required to enable FHC to perform its duties under these Terms and Conditions, or through Third Party Provider and the Client.

6.2.  FHC shall have full power and authority to operate and administer the DPMA through the App in the performance of these Terms and Conditions and the Client Agreement.

7. Third Party Services

investnation may refer to you, make available certain Third-Party Services through our mobile application or otherwise provide information on Third Party Services. You agree to receive such information and acknowledge that we may receive fees from the Third-Party Providers in return for our marketing or making available to the Third-Party Services on their behalf through our App.

Third Party Services are provided subject to additional terms and conditions of the Third-Party Providers and may be subject to additional fees which we will disclose to you in accordance with applicable law. You agree to comply with all such additional terms and conditions. All Third-Party Services will be accepted by you “as is” at your own risk. We make no representations and provide no warranties whatsoever, expressed, or implied, and we will not have any Liability whatsoever, in respect of: (i) the scope, quality, merchantability, suitability or fitness for any use or purpose of any Third-Party Services; or (ii) any offers, representations or commitments made to you by any Third-Party Providers.

You agree that our role is limited to marketing or making a referral and we will not be responsible for the provision of Third-Party Services or any Liability arising out of your relationship with the Third Party Providers of the Third-Party Services, including for any negligence, breach of any statutory or other duty, or failure to comply with the terms and conditions of such Third Party Services, by the Third Party Provider and/or any other party associated in any way, directly or indirectly, with such Third-Party Services.

You expressly acknowledge that you will only have recourse against the Third-Party Providers, and you will have no right of set-off or any other recourse against us. If there is any dispute between you and the Third-Party Provider in relation to any Third-Party Service, your obligations to us will not in any way be affected by such dispute or any opposing claim or right of set-off that you may have against such Third-Party Provider. You must raise any claims, complaints and/or disputes in relation to any Third-Party Services directly with the relevant Third-Party Providers. We will not, at any time, be deemed to be the supplier or issuer of any Third-Party Services and unless otherwise expressly stated by us, we will not be deemed to be the agent or representative of any third party providing the Third-Party Services.

You understand that Third Party Services are offered by third parties and outside of our control.

We make no promises about any Third-Party Service, including without limitation its reliability, availability, or ability to meet your needs. We provide Third Party Services “as is” We cannot and do not ensure continuous availability of Third-Party Services. You understand and agree that a Third-Party Service can change or be discontinued at any time without notice to you.

8. Authorization by Client

7.    

8.    

8.1. To enable FHC to act as the Client’s investment manager with discretionary power, the Client hereby authorizes and appoints FHC as its agent, with absolute discretion, and without prior notice to the Client:

(a) To buy, hold, sell, exchange or otherwise effect transactions in Investments for the account of the Client, and generally to manage the Client’s portfolio with discretionary power; and

(b)  to receive on behalf and for the Client all profits, dividends, returns, capital gains or otherwise, earned by the Investments, and generally to exercise all rights and perform all obligations related to the holding of any such Investments. (Together shall be referred to as the (“Authorization”)

8.2. You acknowledge that an investment carries with it the risk of loss to your capital invested. Furthermore, the Services provided by FHC give no assurance or guarantees that the value of Investments in your DPMA will not go down or that the Investment held in your DPMA will generate either profits or income, or that any Investment or savings goals you may have (even where you notified us of them) will be achieved.

8.3. The Services provided by FHC do not provide you with any taxation, administration, legal, or accounting services or advice.

8.4. Except as set out in these Terms and Conditions, FHC shall not be required to take account of the Client”s personal circumstances.

8.5. Client’s Obligations:

(a) It is your responsibility to ensure that information or documentation provided by you to FHC through the App is correct, accurate, complete, up-to-date, and not misleading in any respect and that you have notified FHC through the App of any information that could be relevant to the performance of FHC’s duties and Services under these Terms and Conditions. You will indemnify us and hold us harmless from any liability arising out of any failure by you to provide us with any information or documents that we request, as well as for any error, omission, inadequacy, or inaccuracy in any information and/or documents that you provide to us.

(b) You acknowledge that FHC (without verification, further inquiry, or investigation) will be relying on the information or documents provided by you through the App. You will promptly advise FHC of any material change in your financial circumstances. Until such time that FHC is advised of these changes, you acknowledge that FHC shall rely on the existing information.

(c) You will be responsible for all tax returns, filings, and reports on any transactions undertaken pursuant to these Terms and Conditions and the Client Agreement and for the payment of all unpaid capital calls, taxes, or other liability arising out of, or in connection with, the Investments held in your DPMA through the App.

(d) You will provide FHC with any documents and information that it may require to comply with the requirements of relevant Anti Money Laundering (“AML”) laws as well as for anti-fraud measures or any other related internal procedures) or clarifications to information and/or documents which you have provided to us. In the event that new AML regulations are enacted or that FHC changes its internal procedures, you may be asked to supply additional information and/or documentation. Failure to provide such documentation may lead to FHC suspending and/or terminating your DPMA through the App until such time as you provide the requested information and/or documents.

(e) We reserve the right to request additional information and/or documentation in order to be satisfied that your dealings with us, including, but not limited to deposits and withdrawals are legitimate and/or for any other reason to comply with our regulatory obligations. You understand and accept that under such circumstances, there may be a delay in processing the transaction, and/or the transaction may be rejected.

9. Lending, Borrowing and Dealing in Investments

9.    

9.1. FHC shall neither lend to a third party any Investments of the Client nor create security over any such Investments.

9.2. FHC shall not commit the Client to supplement the Investments by borrowing on the Client’s behalf or by committing the Client to a contract which may require it to supplement such Investments.

9.3. While undertaking Services for the Client through the App, FHC shall provide the best execution when it agrees or decides in the exercise of its sole discretion to execute a transaction with or for the Client and may deal with such third parties as it sees fit.  All such transactions shall be affected in accordance with the rules and regulations of the relevant jurisdiction, and FHC shall take such steps as may be required or permitted by such rules and regulations and/or by best market practice.

9.4. FHC will act in good faith and with due diligence in its selection and use of third parties.

9.5. Subject to the Terms and Conditions stated herein, FHC may affect transactions in options, futures and contracts for differences and may settle or close out such transactions without reference to the Client and may apply proceeds of Investments to pay or supplement any deposit or margin in support of such transaction.

10.   Material Interests

10. 

10.1.Subject to the duty to achieve best execution pursuant to Clause 9.3 above, FHC may, during the course of its management of the Investments, avoid effecting transactions in which it or an affiliate/ associate has, directly or indirectly, a material interest or a relationship of any description with another party, which may involve a potential conflict with FHC’s duty to the Client, and may avoid receiving a profit, commission or remuneration from or by reason of such transactions or any connected transactions. 

10.2.The potential conflict of interests or duties events may include, inter alia, the following:

(a) any of FHC’s directors or employees, or those of an associate, is the owner of, or a director of a company which owns, the asset in which the Client is to invest.

(b) FHC or an associate undertakes investment business for other clients.

(c) The transaction is in relation to an asset owned by a client of an associate to FHC.

(d) The transaction is in relation to an investment in respect of which FHC or its associate may benefit from a commission, fee, mark-up, or mark-down payable otherwise than by the Client, and/or FHC or its associate may also be remunerated by the counterparty to any such transaction.

(e) FHC deals on behalf of the Client with its associate.

(f) FHC acts as an agent for the Client in relation to transactions in which it is also acting as an agent for the account of other customers and its associates.

(g) FHC may effect transactions involving assets with its associate who may be acting as principal or receiving an agency commission.  Associates of FHC may retain any agency commission or discount or other benefit (including directors’ fees) that accrues to them; and

(h) The transaction is in assets of a type or in a location in respect of which FHC or its associate, or a director or employee thereof is contemporaneously interested in its own account.

10.3.FHC will notify the Client immediately after it becomes aware of the existence of any conflict of interest to which it is subject in relation to the Investments and will ensure that all transactions are effected on terms that are not less favorable to the Client than if the potential conflict had not existed.

10.4.Any of FHC’s employees who make any Investment recommendation or any Investment decision under these Terms and Conditions and the Client Agreement is required to avoid any interest (the “Independence Requirement”), although the Independence Requirement is subject to any legal or regulatory obligation of either FHC or any of its associates.

10.5.FHC will normally act as the agent of the Client, which will therefore be bound by its actions under these Terms and Conditions and the Client Agreement.  Nevertheless, none of the Services to be provided under these Terms and Conditions and the Client Agreement nor any other matter will give rise to any fiduciary or equitable duties which would prevent or hinder FHC or any of its associates in transactions for the Client, acting as both market-maker and broker, principal, or agent, dealing with other associates and other customers, and generally effecting transactions under these Terms and Conditions and Client Agreement.

11.   Custodian

11.   

11.1.The Client agrees and acknowledges that certain Investments which FHC holds on the Client’s behalf may be registered in the name of FHC or a third-party custodian or nominee and held in an account or collective account with a third-party custodian appointed by FHC until the Liquidation Request (as defined in clause 16.1 below) is issued or these Terms and Conditions are terminated. FHC shall act in its name but on behalf of and on the responsibility of the Client.

11.2.FHC’s duty to hold the Investments in safe custody for the Client shall commence only on actual receipt by or delivery of the relevant Investment to FHC or its appointed custodian as stated in these Terms and Conditions and the Client Agreement.

11.3.FHC and/or its appointed custodian will not commingle the Investments with its own property and assets. FHC and/or its appointed custodian may, however, commingle the Investments with investments held for other clients, referred to as (“Pooling”). Where Pooling takes place, the Client shall be considered the owner of such proportion of the relevant investments as the number of the Client’s Investments bears to the total number of investments held, and the Client shall not be entitled to require that the specific Investments deposited with FHC and/or its appointed custodian be returned to it. The Client shall be entitled, on re-delivery, to investments of the same quantity, class, denomination, and issues as the Investments originally deposited with FHC and/or its appointed custodian.

11.4.The Client authorizes FHC to perform all deeds and give all instructions to its appointed custodians as necessary for the proper and safe custody of the Investments.

11.5.FHC may declare it is acting in its capacity of custodian to any third party with whom it transacts business in relation to the Investments, without disclosing the Client’s name, unless the competent authorities require disclosure.

12.   Delegation

12.    

12.1. FHC is authorized at its sole discretion and on such terms as it sees fit, to delegate parts or all of its duties under these Terms and Conditions and the Client Agreement as applicable, to appoint on behalf of the Client, sub-agents, brokers, dealers, custodians, other institutions, persons or fund managers. FHC will charge the Client any fees or costs charged to it by such third parties. Such charges shall be in addition to the fees payable to FHC under these Terms and Conditions and the Client Agreement as applicable.

12.2. FHC shall not, after notifying the Client, be responsible for the solvency or the due and proper performance of the obligations of any sub-agents, brokers, dealers, custodians, other institutions, persons or fund managers or other service providers appointed or employed by FHC in good faith hereunder, as provided in Clause 12.1, but FHC shall, at its discretion, make available to the Client such rights as FHC may have against any such persons in relation to the Investments.

13.   FHC’s Liability

13.    

13.1. Neither FHC nor any of its officers, directors, shareholders, advisers, or employees shall be liable to the Client for any decrease or diminution in the value of any of the Investments or for any failure to secure any specific level of return on any of the Investments or for any losses, damages, expenses, or liabilities incurred by the Client other than those arising as a direct result of FHC’s gross negligence, fraud, or willful default in the management of the relevant Investment.

13.2. Under no circumstances shall FHC or any associate, affiliate of FHC, or any of FHC’s or its affiliates” respective directors, officers, employees, or agents, be liable to the Client for indirect or consequential losses, including any failure to realize any profit, advantage, or opportunity.

14.   Statement of DPMA

14.   

14.1.Periodically, FHC shall make available to the Client through the App, a statement of account. The statement of account shall include the following information:

(i) Name, number and type of the security or financial products owned by the Client.

(ii) The total value of securities or financial products that the Client owns in its DPMA.

(iii) The volume and value of executed trading orders in the Client’s DPMA, the details, dates, and timing of these transactions.

(iv) Details of payments (if any) and withdrawals, and the market value at the date of preparing the statement.

(v) Cash in and out of the Client’s DPMA, and the total cash available in it.

 

14.2.The Client agrees that any valuation that FHC provides through the App may contain prices or rates that are obtained from sources other than FHC itself and that these prices and rates are indicative only and do not represent the actual price or rate at which a transaction can actually be effected.

15.   FHC’s Fees and Commission

15. 

15.1.to the extent applicable, any fees payable for the Services provided to you by FHC are exclusive of any VAT or other similar taxes, which will be payable by you.

15.2.Any sums due to FHC or to any other person in respect of fees or otherwise pursuant to these Terms and Conditions and Client Agreement as applicable (including any applicable VAT) may be withdrawn from the DPMA, and you authorize the Custodian/Intermediary to make payment of fees to FHC. Further, we may debit your DPMA with the full amount of any fees payable by you, or any other monies owed by you to us pursuant to any liability of any nature arising in respect of the DPMA or otherwise. For this purpose, we may withdraw and collect uninvested cash in your DPMA and/or sell your assets and collect the proceeds from such sale for such purpose.

15.3.Fees payable to FHC shall be in accordance with the Portfolio Fact Sheet available through the App. FHC may amend its fees (if any) in its sole discretion and provide you 60 days prior in-app notification of the changes unless it is impractical to do so.

15.4. The Portfolios (Flex/ Saver and Growth) available through the App has a built-in management fee of 0.50% charged on a per annum basis; accrued daily and deducted monthly based on the NAV of the portfolio to cover the costs of managing your investments. There are no additional or upfront fees charged to investnation customers.

16.   Liquidation of Investment

16. 

16.1.The Client may at any time and from time to time, by sending a (“Liquidation Request”) to FHC substantially through the App, instruct FHC to liquidate all or any part of the Investments held by FHC. For the avoidance of doubt, if the relevant Investment has a maturity date, the Client may not issue a Liquidation Request in respect of such Investment. FHC shall be considered automatically relieved from its obligations regarding such Investment(s) by the transfer of the Investment(s) to the Client, or the beneficiaries or heirs, as the case may be.

16.2.Upon receipt of a Liquidation Request received through the App, FHC shall use its reasonable endeavors to comply with the instructions set out in the Liquidation Request in an orderly fashion over the course of a reasonable period and such period shall depend on the value of the Investment and the nature of the underlying investment. FHC shall be relieved to comply with such requirements in case of force majeure, pandemic, or similar events (the “Liquidation Period”).

16.3.Immediately upon the expiry of the Liquidation Period, FHC shall account to the Client, the beneficiaries, or the Client’s heirs as the case may be, with the proceeds, if any, of the liquidation of the relevant part of the Investments (the “Proceeds”) by crediting the DPMA or prepaid card issued with such Proceeds. FHC shall as soon as practicable thereafter provide the Client with a detailed report of all transactions undertaken by FHC in undertaking that liquidation.

16.4.The Client hereby also agrees to indemnify FHC on demand (whether before or after the termination of these Terms and Conditions) and to hold harmless FHC’s officers, directors, shareholders, advisers and employees from any and all losses, costs, expenses (including legal fees), indebtedness, claims and liability of any kind which may be incurred by FHC as a direct or indirect result of FHC acting pursuant to these Terms and Conditions and Client Agreement through the App as applicable.

17.   Set-off

Notwithstanding anything to the contrary in these Terms and Conditions and the Client Agreement as applicable, FHC shall be entitled, at any time to – Debit the DPMA with any amount which may from time to time be due to it from the Client (the “Due Amount”) and the Client hereby irrevocably authorizes FHC to carry out such set-off as FHC deems appropriate.

18.   Disclosure of Risk

The following is a summary of some of the risks of investing. Please note that this list is not exhaustive and has been provided as an indication of the factors that can affect the value of your investments.

You are voluntarily using our DPMA services through the App at your own risk. You are aware of the possible risks associated with the use of our platform which may include but are not limited to the risks detailed below.

Despite all known and unknown risks, you hereby expressly and voluntarily remise, release, acquit, satisfy and discharge us and agree to hold us harmless of and from all, and all manner of action and actions or omissions, cause and cause of action, suits, debts, dues, sums of money, accounts, bonds, bills, damages, judgments, executions, claims, and demands, including but not limited to, any and all claims which allege negligent acts and/or omissions committed by us, whether the action arises out of any damage or loss of capital invested while availing of any of the Services provided through the App or as a result of us executing your approved Client Portfolio/instructions:

1. General:  All Investments are subject to risk and the degree of risk is a matter of judgment and cannot be accurately pre-determined. The value of your investments can go down as well as up and positive returns of both capital and income are not guaranteed. Past performance is not a reliable guide to future performance. FHC gives no assurance or guarantees that the value of Investments in your DPMA will not go down or that the Investment held in your DPMA will generate either profits or income, or that any Investments or savings goals you may have (even where you notified us of them) will be achieved. FHC does not guarantee any returns or positive results.

2. Credit Risk:  A fixed income security, like a bond, is essentially a promise to pay interest and repay a specified amount at a later time. The probability that the issuer of the fixed-income security will fail to honor that promise is called credit risk. Credit rating agencies give investors an idea of how much of a credit risk an issuer represents. If a company or government has a high credit rating, the credit risk tends to be low. A lower credit rating means more credit risk.

3. Interest Rate Risk: A change in general interest rates is one of the biggest factors affecting fixed-income securities. A bond, for example, pays interest based on the level of interest rates prevailing when the bond is issued. Generally, if interest rates fall, the value of the bond rises. This is because the interest rate on the existing bond will be higher than the rate on newer bonds. On the other hand, when general interest rates rise, the price of existing bonds is expected to drop because they pay less than newer bonds.

4. Inflation Risk: This is the risk of decline in the purchasing power of your savings due to a general rise in prices.

5. Liquidity Risk: Liquidity refers to the speed and ease with which an asset can be sold and converted into cash.

a) Most securities can be sold easily and at a fair price. In highly volatile markets, certain securities may become less liquid, which means they cannot be sold as quickly or easily. Some securities may be illiquid because of legal restrictions, the nature of the investment, or certain other features such as guarantees, or a lack of buyers interested in the particular security or market. Difficulty in selling securities may result in a loss or reduced return for a client.

b) FHC does not control the market and is not liable in the event of a lack of demand on the market for that specific asset.

6. Price Volatility: Price volatility is used to describe price fluctuations of an asset.

a) You acknowledge that the price of any asset can and does fluctuate and that any individual asset may experience downward movements and may under some circumstances even become valueless. You appreciate therefore that there is an inherent risk that, as a result of buying and selling assets, losses may be incurred rather than profit made. This is a risk you are prepared to accept.

b) Unless otherwise indicated or agreed upon any prices shown on our platform are indicative at the time shown based on data that is subject to constant change. The execution price is that which is confirmed to you after your order is executed, although this price may in certain cases differ from the price appearing on the screen at the time the transaction was placed.

c) You acknowledge that any quotations published by us may deviate from the price of the underlying asset/instrument when the transaction goes through. In the event this price difference leads to a negative balance in your Investment Account, then you would need to satisfy any deficiency or debt incurred within three (3) days.

d) Any order made after the markets are closed will be filled on the next business day once the markets reopen. You acknowledge that the purchase or sell price of the asset as seen before the market close is not guaranteed to be the same once the market reopens. Note that our broker”s endeavor is to give you the best available bid/offer price on the market.

7. System Errors:

a) System errors through the App may result from the temporary malfunction of FHC’s system or that of the third-party intermediaries (“Intermediaries” or “Intermediary”) it collaborates with. FHC will endeavor to make the software and any other systems accessible when you need them, but we cannot always guarantee uninterrupted accessibility to them for various reasons including those listed below.

i) Failures and/or errors, including those of a technological nature which may affect the access to and the use of the software, and go beyond our reasonable control.

ii) Service interruptions brought on by upkeep, maintenance, repairs, updates, developments, and

iii) other issues beyond our control.

b) We will exercise reasonable efforts to conduct these activities outside regular business hours. If this proves to be difficult, we will try to inform you in advance.

c) FHC shall not be liable for your loss of earnings and/or profits and/or losses caused by the interruptions or delays in the transmission of data due to reasons beyond our control and liability. In particular, you may not make a claim against us that due to a fault in the functioning of technical infrastructure, you could not place the transaction order, submit the instruction, or obtain information regarding your Accounts.

d) Neither we nor any Intermediary or third-party software provider accept any liability in respect of any delays, inaccuracies, errors, or omissions in any data provided to you via our App or any transactions completed pursuant to such data.

e) We shall not be liable for any claims, losses, damage, costs, or expenses, caused directly or indirectly, by any breakdown or failure of any transmission or communication system or computer facility belonging to us (including, but not limited to transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions or other deficiencies on the part of internet service providers), nor for any loss, expense, cost or liability suffered or incurred by you as a result of instructions being given, or any other communications being made, via the internet. You acknowledge that access to the App may be limited or unavailable due to such system errors and that we reserve the right upon notice to suspend access to our App for this reason.

8. Website:  The content of the Website (www.investnation.com) and/or your App dashboard, and any Client Portfolio, is only intended to provide you with general information and is neither an offer to sell nor a solicitation of an offer to purchase any security and may not be relied upon for investment purposes. Any commentaries and information contained on the Website (www.investnation.com)  and/or and through the App dashboard, and any Client Portfolio account, should not be considered personal investment advice.

19.   Duration and Termination

17.    

18.    

19.    

19.1. These Terms and Conditions attested and available through the App shall continue for a period of 12 months and thereafter shall be automatically renewed for similar periods, unless either party gives to the other, at least 30 days prior to the end of any such period, an email request of its desire not to renew may be sent vide an in app notification or alternate party may send an email to support@investnation.com or WhatsApp at +971 569955100.

19.2.  Either party may terminate its obligation under these Terms and Conditions immediately, if the latter commits any breach of the Client Agreement and these Terms and Conditions which is incapable of remedy, or, if capable of remedy is not remedied after the affected party notifies the breaching party in a manner that is deemed reasonable.

19.3. Termination of the associated App Terms and conditions and the issuance of the prepaid card may be done basis the following –

a)On account of any internal policy decisions and/ or compliance concerns if noted.

b) Instructions received from law enforcement authority, court order and any regulatory instructions as received.

c) You remain as an inactive customer.  

d) Non submission of KYC documents after expiry

e) Fraud or Attempted fraud charges

f)  Force Majeure noted

 

19.4. Upon termination of these Terms and Conditions for any reason, FHC shall transfer the Investments to the Client or to his order; however, if the Client so directs, or if FHC is unable to transfer the Investments to the Client, FHC shall proceed to liquidate any non-cash Investments and hold all cash amounts on deposit to the Client”s order.

19.5. On termination of the appointment of FHC under the provisions of this clause 19, FHC shall be entitled to receive all fees and other moneys accrued due up to the date of such termination and costs necessarily incurred in giving effect to this clause 19.4 but shall not be entitled to compensation in respect of such termination. FHC shall deliver to the Client, or as it shall direct, all books of account, records, registers, correspondence, and E-documents relating to the affairs of or belonging to the Client in the possession of or under the control of FHC (which shall remain the exclusive property of the Client) and take all necessary steps to vest in the Client or any new investment manager any assets previously held in the name of or to the order of the Client. Termination is without prejudice to transactions already initiated through the App on the basis of advice under these Terms and Conditions will be dealt in accordance with the terms of the contract governing the transaction with the relevant third party. 

20.   Notices & Language Translations

20. 

20.1.All notices and correspondence between FHC and the Client shall be raised through the App or by email initiating the correspondence or replying to one. Emails from FHC shall only emanate from the domain address of FHC. Likewise, emails from the Client shall only emanate from the email address(s) expressed in its address. The Client undertakes to promptly inform FHC upon changing its address. The Client acknowledges that FHC shall rely on such information and sent instructions as described above, and the Client shall bear all the consequences of sending a wrong instruction, or any instruction it wishes to retract at a later stage.

20.2.English is the exclusive language used through the App and the website for the applicable Terms and Conditions with the potential of adding more languages in the future.

21.   Services of FHC not to be Exclusive

21. 

21.1.The Services of FHC to the Client hereunder are not to be deemed exclusive and FHC shall be free to render similar services through the App to others so long as its Services hereunder are not impaired thereby, and to retain for its own use and benefit fees or other moneys payable thereby and FHC shall not be deemed to be effected with notice of or to be under any duty to disclose to the Client any fact or thing which may come to the notice of FHC in the course of FHC rendering similar Services through the App to others or in the course of its business in any other capacity or in any manner whatsoever otherwise than in the course of carrying out its duties hereunder.

21.2.In connection with its activities hereunder, FHC shall have no duty:

(a) to ascertain whether any director, officer, or employee of FHC possesses any information which has not been publicly disclosed and which, if generally known, might have a significant impact on any decision whether to acquire, retain, dispose of, develop, or otherwise deal with any property in connection with these Terms and Conditions; or

(b) to take into account any such information in making a recommendation as to the sale, purchase or development of any Investments.

 

22.   Confidentiality

22.    

22.1. Neither of the parties hereto shall (except under compulsion of law), either before or after the termination of these Terms and Conditions, disclose to any person not authorized by the other party to receive the same, any confidential information relating to such party or to the affairs of such party of which the party disclosing the same shall have become possessed during the period of these Terms and Conditions and each party shall use all reasonable endeavors to prevent any such disclosure as aforesaid. Neither party shall knowingly do or suffer any act or matter or thing which would or might reasonably be expected to prejudice materially or bring into disrepute the business or reputation of the other party.

22.2. The Client hereby undertakes to preserve and keep confidential and in trust all the information related to products, Services, investment strategy, and transactions that are concluded, introduced, referred to, executed, or to be executed (which the Client becomes aware of) by virtue of these Terms and Conditions through the App.  The Client further undertakes to FHC to deal with all such confidential information including this provision in strict confidence and will not, directly, or indirectly use, copy, divulge, publish, furnish, or make accessible any confidential information referred to under this provision to any person other than to FHC staff or as required by law.

22.3. FHC is subject to applicable Anti-Money Laundering and Combatting the Financing of Terrorism (“AML/CFT) laws and regulations. If FHC becomes aware or suspects that the Investments may be being used to process the proceeds of a crime, it is obliged to report the fact and nature of its knowledge or suspicions to the Anti-Money Laundering Financial Information Unit of the UAE. Further, in case of any orders issued against or in relation to the Client, the Investment, or the Investment Account to implement AML/CFT laws and regulations, FHC is obliged to implement such orders from time to time.

23.   Severance

You agree that invalidity, illegality, or unenforceability of any provision in these Terms will not affect or prejudice the other provisions of these Terms.

24.    No Waiver, Assignment and Variation

23.   

24.   

24.1.  A waiver by us of any provision of these Terms and Conditions will only be effective if given through the App and only to the extent that it is expressly given. If we fail to exercise or delay exercising any power or right, that failure or delay will not operate as a waiver, and we can choose to exercise that power or right at a later time.

24.2.  The Client cannot transfer any of your rights and/or obligations under these Terms and any Additional Terms to any party without our prior consent.

24.3.  These Terms and Condition through the App are subject to the change or amendment at the sole discretion of FHC. FHC will notify the Client of any amendment or updates to these Terms and Conditions through the App or any other mode of communication and such amendments shall become effective 30 days from date of notice to the Client.

25.   Delegation and Relationship on the usage of third Parties

25. 

25.1.FHC may appoint any affiliate or person, delegate, or agent of a third party to perform part or all of any of FHC obligations under these Terms and Conditions, provided that in doing so FHC’s responsibility to you for these obligations shall not be reduced.

25.2.In performing its obligations to you, FHC may appoint or use the services of certain Third-Party Service Providers, including a) price, market, or valuation information or assessment services and b) broking, dealing, or registrar services. FHC shall not be responsible or liable to you for the performance by these parties or their services provided that FHC has exercised reasonable care and diligence in their selection of the same.

25.3.Nothing in these Terms and Conditions shall constitute a partnership, joint venture, collective investment scheme, or mutual trust between any of the parties.

26.   Warranties and Undertakings

The Client warrants and undertakes that, at all times during the term of these Terms and Conditions acknowledged through the App:

26. 

26.1.has full power to appoint FHC and enter into transaction and investment on the terms of these Terms and Conditions and has taken all corporate action necessary to approve such appointment and action.

26.2.The Investments are and will continue to be beneficially owned by the Client and to be free of all liens, charges, or other encumbrances.

26.3.Any information which the Client has provided to FHC in relation to these Terms and Conditions, its status, the Investments, or any other matter was complete and correct when provided and any material change to such information will be advised to FHC promptly following the occurrence of such change; and

26.4.has sufficient experience and understanding of the relevant financial markets, products, or transactions so as to be able to evaluate the merits and risks of entering into the transactions and/or Investments as contemplated in these Terms and Conditions.

26.5.Investing involves risk, including the potential loss of principal. Past performance does not guarantee future results. The information provided is for informational purposes only and should not be considered as investment advice. Always do your own research and consult with a qualified financial advisor before making any investment decisions

26.6.The information provided through the App does not constitute financial advice, investment recommendation, or an offer to buy or sell any securities. The content is for informational purposes only and is subject to change without notice.

26.7.Investing in financial markets carries inherent risks, and past performance is not indicative of future results. The value of investments can fluctuate, and investors may lose the entire principal amount invested. There is no guarantee that any investment strategy or portfolio will achieve its objectives or that any investment returns will be achieved. It is essential to carefully consider your financial situation, risk tolerance, and investment objectives before making any investment decisions.

27.   Dispute Resolution Mechanism & Complaint Resolution

27.   

27.1. FHC’s records in relation to any transactions and/or Investments are conclusive in the absence of manifest error.  Any certification or documentation by FHC of an amount due by the Client to FHC will be conclusive.

27.2. No failure on the part of either party to exercise, and no delay on its part in exercising, any right or remedy under these Terms and Conditions will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy preclude any other or further exercise thereof or the exercise of any other right or remedy.  The rights and remedies provided in these Terms and Conditions are cumulative and not exclusive of any rights or remedies provided by law. These Terms and Conditions do not create any right that is enforceable by any person who is not a party to it.

27.3. The illegality, invalidity, or unenforceability of any provision of these Terms and Conditions under the law of any jurisdiction shall not affect its legality, validity, or enforceability under the law of any other jurisdiction nor the legality, validity, or enforceability of any other provision.

27.4. In case the Client has a complaint against FHC and the App in particular or any of its employees, associates or directors, the Client may submit a written clarification of the complaint to:

Email: complaints@investnation.com or

WhatsApp: +971 56 9955100 or

     Upon filing the complaint with FHC as clarified above, the Client shall receive a confirmation of receiving the complaint within one business day. Following this, FHC will review the complaint and communicate with the Client to solve the complaint and reach an amicable solution with the Client.

       If the Client is not satisfied with the solution suggested by FHC, the Client shall have the right to approach SCA through the relevant channels to file a complaint against FHC or any of its employees.

27.5. You understand that in order to receive electronic deliveries, you must have access to a computer or Mobile Device with Internet access, a valid e-mail address, and the ability to download the App to which you have access. You also understand that if you wish to download, print, or save any information you wish to retain, you must have access to a printer or other device in order to do so.

27.6. In the event of your death, disability or physical or mental incompetence, there will be no automatic termination or change to these Terms and Conditions. Your respective successors, executors, administrators, or guardians or controllers acting on your behalf, should contact us to determine the appropriate procedure for the ongoing administration or appropriate closure of your DPMA.

28.   Data Protection

28.    

28.1. FHC may collect, use, and store the personal information that you provide from time to time including Personal Data and Sensitive Personal Data within the meaning given to the terms in the SCA Data Protection Regulations (as amended) (“Personal Data”). Personal Data may include information provided for the purpose of compliance with AML regulations and information deriving from transactions that FHC carries out on your behalf.

28.2. You consent to us using and holding your Personal Data in accordance with our Privacy Policy.

28.3. In particular, FHC may use the Personal Data that it collects: a) to process and implement the Client Portfolio and open your DPMA and enable related arrangements; b) to supply the Services; c) to meet FHC’s obligations under SCA Rules and other applicable law; d) for Client service, analysis and market research purposes; e) to undertake credit and reference checks and/or to recover a debt or for the purposes of legal proceedings; and/or f) for general account administration purposes.

28.4. You agree that FHC may share your Personal Data in the following circumstances: a) where FHC uses your Personal Data to assess your eligibility for the Services and to verify your identity; b) FHC may share Personal Data with its affiliates and with third parties who may administer and operate the DPMA from time to time. FHC will always take appropriate measures and meet its legal obligations to ensure that any Personal Data transferred to such third parties is kept securely; c) on an assignment of the obligation and rights under these Terms and Conditions, or if FHC restructures its business or the whole or any part of its business is sold then FHC may transfer your information to the relevant third party provided this is in line with statutory data protection requirements; and d) FHC may share your Personal Data with UAE and overseas law enforcement agencies or regulatory authorities and other relevant bodies for crime prevention purposes.

28.5. FHC will retain copy records for a period stipulated by us in accordance with SCA Rules and other applicable laws from the date of termination of your Client Agreement. The App may scan and retain all hard copy documentation including Personal Data within our data storage system indefinitely. Retained data may be archived off-site and may usually be retrieved within three working days. investnation may seek to recover reasonable expenses for retrieval of any data after the termination date.

28.6. You authorize us and any of our affiliates to record any telephone conversation or any electronic communication, activities, and transactions conducted between you and us or our personnel, to retain such recordings and use them in such manner as we consider appropriate. The recordings shall be admissible in evidence in legal proceedings and shall have the same probative value as a written original document. You shall not challenge or dispute the admissibility, reliability, accuracy, or authenticity of the contents of such records, and you hereby waive any right (if any) to so challenge or dispute. You agree that the recordings made by us shall be conclusive evidence of the contents and shall be binding on you. These records will be our sole property.

29.   Applicable Law and Jurisdiction

29. 

29.1.These Terms and Conditions shall be governed by and construed in accordance with the Federal Laws of the United Arab Emirates.

29.2.Any dispute, controversy or claim arising out of or in connection with this Client Agreement shall be referred to and finally settled by the courts of the Emirate of Abu Dhabi, United Arab Emirates provided that FHC may, if it deems appropriate, bring proceedings in any other jurisdiction, inside or outside the United Arab Emirates.

By creating an account OR signing up/ acknowledging to the App and to any of the products offered through the App, you acknowledge that you have read, understood, and agree to the aforesaid Terms and Conditions.