This client agreement, together with any Policies and accompanying documents, as amended from time to time, (herein the “Agreement”) sets out the terms of the contract between you, the client (herein the “Client”, “your” or “you”) and Markets Bettors Ltd (herein the “Company”, “we” or “us”). By opening an account with us you acknowledge and agree to the Agreement thus we recommend that you read it carefully before applying for an account with us.
In this Agreement:
“Account Opening Application Form” shall mean the application form/questionnaire completed by the Client in order to apply for the Company’s Services under this Agreement and a Client Account, via which form/questionnaire the Company will obtain amongst other things information for the Client’s identification and due diligence, his categorization and appropriateness or suitability (as applicable) in accordance with the Applicable Regulations.
“Agreement” shall mean this document along with any other appendices added thereto and the following documents which are found on the Website of the Company
“Applicable Regulations” shall refer to the laws and regulations in the Republic of Georgia.
“Services” shall mean the services and activities offered by the Company.
Words importing the singular shall import the plural and vice versa. Words importing the masculine shall import the feminine and vice versa. Words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.
Paragraph headings are for ease of reference only and shall not affect interpretation of this Agreement.
Any reference to any act or regulation or Law shall be that act or regulation or Law as amended, modified, supplemented, consolidated, re-enacted or replaced from time to time, all guidance noted, directives, statutory instruments, regulations or orders made pursuant to such and any statutory provision of which that statutory provision is a re-enactment, replacement or modification.
This Agreement sets out the basis on which we will provide services to you. This Agreement governs each Transaction entered into or outstanding between us on or after the execution of this Agreement. This Agreement supersedes any previous agreement between you and us on the same subject matter and takes effect when you indicate your acceptance via our website. This Agreement shall apply to all Transactions contemplated under this Agreement.
The Agreement shall take effect and commence upon the receipt by the Client of:
- a notice sent by the Company informing the Client that he has been accepted as the Company’s Client or that a Client Account has been opened for him, and/or
- any other affirmation and/or action that lead to opening of a Client Account.
This Agreement is supplied to you in English and we will continue to communicate with you in English for the duration of this Agreement. However, where possible, we will communicate with you in other languages in addition to English.
You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone). Our contact details are can be found on our website at www.marketsbettors.com. The language of communication shall be English, and you will receive documents and other information from us in English. However, where appropriate and for your convenience, we will endeavor to communicate with you in other languages. Our website contains further details about us and our services, and other information relevant to this Agreement. In the event of any conflict between the terms of this Agreement and our website this Agreement will prevail.
III. LEGAL AGE
The Company’s services and products traded are only available to individuals who are at least 18 years old (and at least the legal age in your jurisdiction). You represent and warrant that if you are an individual, you are at least 18 years old and of legal age in your jurisdiction to form a binding contract, and that all registration information you submit is accurate and truthful. The Company reserves the right to ask for proof of age from you and your account may be suspended until satisfactory proof of age is provided. The Company may, in its sole discretion, refuse to offer its products and services to any person or entity and change its eligibility criteria at any time.
IV. OUR SERVICES
This Agreement covers the provision of the following Services offered by us to you through our online trading platform:
- Creation of contracts on the price difference of offered financial instruments with expiration
- Acceptance of contracts placed by other clients
- Facilitation of Transactions on the Client’s account (deposits/withdrawals)
- Usage of our social platform
It is understood that all of the aforementioned services are applicable only to Clients that have been approved for an account with the Company.
V. ACCOUNT OPPENING
After you complete and submit the online Account Opening Application Form together with all the required identification documentation required by the Company for its own internal checks, the Company will provide you with a notice informing you whether you have been accepted as a Client of the Company. It is understood that the Company is not to be required (and may be unable under Applicable Regulations) to accept a person as its Client until all documentation it requires has been received by the Company, properly and fully completed by such person and all internal Company checks (including without limitation anti-money laundering checks, appropriateness or suitability tests, as the case may be) have been duly satisfied. It is further understood that the Company reserves the right to impose additional due diligence requirements to accept Clients if the internal checks are not satisfactory and require further due diligence.
VI. BILATERAL CONTRACT SERVICE
The following rules govern the service of contract creation offered by the Company. It is noted that you will need to have sufficient funds in your account in order to create or accept a contract. Funds used in contracts are locked pending contract expiration.
When you create a contract you will be able to set the following:
- Select the related financial instrument
- Related amount
- Expiration price
- Expiration time
Once you confirm the aforementioned contract details, the contract made available for acceptance by other Clients. The timeframe of availability depends upon the selected expiration time.
You can accept any contract created by any other client within the timeframe of availability. Once a Contact has been accepted is considered final and shall be rectified upon expiration. Placed contracts that have not been accepted by other Clients within the available timeframe are automatically cancelled and the invested amount is returned to you.
Upon expiration the contracts are settled based on the financial instrument’s price at the expiry time. The related amount is then credited to the winning Client while debited from the losing Client.
4. Premature Manual Cancellation
You may choose to cancel a contract at any time prior expiration of available time for trading. You will be refunded the full contact amount minus cancelation fee of 1€ as long as the contract has not been accepted by any other Client. Accepted contracts cannot be canceled.
Only in case of closing account, all contracts can be terminated by your request. Terminating of accepted contracts will be treated as losing contracts, thus deducting the related amount from your account. By terminating offered contracts upon account deletion, you will be refunded the full contact amount.
VII. CLIENT TRANSACTIONS
Before you can place a contract with the Company, you must deposit sufficient clear funds in your account. We may, but shall not be obliged to, accept instructions to enter into a Transaction. If we decline to enter into a proposed Transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.
We accept only deposits through the following channels:
- Bank transfer
- Credit Card transfer
Once a deposit transaction has been successfully processed, the relative amount will be credited to your available account balance.
Withdrawal transactions are performed through the same channels as in deposits. The withdrawal amount cannot exceed the account available funds. To avoid any misinterpretation available funds is equal to your account balance minus any amount being used in unexpired contracts.
3. Transaction Cancelation
We can only cancel your transaction request if you explicitly request so, provided that we have not acted up to the time of your request upon those instructions. We cannot withdraw or amend an executed transaction. The Company shall have no liability for any claims, losses, damages, costs or expenses, including legal fees, arising directly or indirectly out of the failure of such order to be cancelled.
VIII. MESSAGES AND POSTING
As soon you open an account with us you will be able to post messages in our website and communicated with other Clients. You may post any content that does not violate any laws or regulations and the responsibility or promote harmful actions. While we will take all efforts to maintain a civil and ethical content on the website the responsibility of the content posted by you shall remain with your person and we accept no liability for any losses or harm you may suffer due to your posts. Any posts or messages that violate any laws or regulations shall be reported immediately to the relative authorities upon detection. It is noted that due to the volume of content and technical limitations we may not be able to detect post violations immediately. You have the right to flag any post you consider to violate the rules of this Agreement and we will evaluate compliance of the related post accordingly.
IX. COSTS, FEES AND CHARGES
We charge a commission fee upon winning a contract and a withdrawal fee of 5 €. You should be aware of the possibility that other charges may be imposed by third parties such as taxes or transaction fees which are not related to our services
You may terminate this Agreement at any time by selecting the related option through the account settings.
Upon termination of this Agreement, all amounts payable by the Client to the Company will become immediately due and payable including (but without limitation) all outstanding costs and any other amounts payable to the Company, any charges and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement. Further all Client’s remaining and outstanding balances shall be paid to the Client by the Company.
We reserve the right to terminate this Agreement immediately without prior notice to you, shall you violate any of the terms of this Agreement.
Termination by any Party will not affect any obligation which has already been incurred by either Party or any legal rights or obligations which may already have arisen under the Agreement.
XI. LIABILITY AND INDEMNITY
Without prejudice to any other terms of this Agreement, relating to the limitation of liability and provision of indemnities, the following clauses shall apply to our Services.
a) System errors
We shall have no liability to you for damage which you may suffer as a result of 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. You acknowledge that access to Electronic Services may be limited or unavailable due to such system errors, and that we reserve the right upon notice to suspend access to Electronic Services for this reason.
Neither we nor any third party software provider accepts any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to you in connection with an Electronic Service. We do not accept any liability in respect of any delays, inaccuracies or errors in prices quoted to you if these delays, inaccuracies or errors are caused by third party service providers with which we may collaborate. We shall not be obliged to execute any instruction which has been identified that is based on errors caused by delays of the system to update prices provided by the system price feeder or the third party service providers. We do not accept any liability towards executed trades that have been based and have been the result of delays as described above.
c) Unauthorized use
We shall not be liable for any loss, liability or cost whatsoever arising from any unauthorized use of our Services. You shall on demand indemnify, protect and hold us harmless from and against all losses, liabilities, judgments, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using our Services by using your designated passwords, whether or not you authorized such use.
We shall not be liable for any act taken by or on the instruction of an exchange, clearing house or regulatory body.
e) Suspension or permanent withdrawal with notice
We may suspend or permanently withdraw our Services, by giving you at least 24 hours written notice. Upon suspension or permanently withdraw of the service clause X – TERMINATION shall apply.
f) Immediate suspension or permanent withdrawal
We have the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use our Services, or any part thereof, without notice, where we consider it necessary or advisable to do so, for example due to your noncompliance with the Applicable Regulations, breach of any provisions of this Agreement, on the occurrence of an Event of Default, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of security. In addition, the use of an Electronic Service may be terminated automatically, upon the termination (for whatever reason) of:
- any license granted to us which relates to our Services; or
Should any part of this Agreement be held by any Court of competent jurisdiction to be unenforceable or illegal or contravene any rule, regulation or by law of any Market or regulator, that part will be deemed to have been excluded from this Agreement from the beginning, and this Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
XIII. INFORMATION DISCLOSURE
By accepting the Agreement and Terms of Business the Client hereby authorizes the Company to disclose such information relating to the Client as may be required by any law, rule or regulatory authority, including any applicable market rules, without prior notice to the Client. Moreover, the Company is entitled to disclose necessary and required information about the Client to third parties in the Republic of Georgia, or outside of it, to facilitate the transfer of funds from the Client’s credit card.
XIV. NON-EXERCISE OF RIGHTS
Either Party’s failure to seek redress for violations, or to insist upon strict performance, of any condition or provision of this Agreement, of its failure to exercise any or part of any of right or remedy to which that Party is entitled under this Agreement, shall not constitute an implied waiver thereof.
XV. COMPLAINTS AND DISPUTES
If you wish to report a complaint, you may do so by sending an email at firstname.lastname@example.org. The Company will try to resolve it without undue delay and according to the Company’s Complaints Procedure.
If a situation arises which is not expressly covered by this Agreement, the Parties agree to try to resolve the matter on the basis of good faith and fairness and by taking such action as is consistent with market practice.
The Client’s right to take legal action remains unaffected by the existence or use of any complaint’s procedures referred to above.
XVI. GOVERNING LAW AND APPLICABLE REGULATIONS
This Agreement is governed by the Laws of Georgia
If a settlement is not reached via the Company’s Complaint’s Procedure, all disputes and controversies arising out of or in connection with the Agreement shall be finally settled in court in Georgia.
All transactions on behalf of the Client shall be subject to Applicable Regulations and any other public authorities which govern the operation of the Company, as they are amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers necessary to ensure compliance with the Applicable Regulations, the relevant market rules. Any such measures as may be taken shall be binding on the Client.
Markets Bettors Ltd does not offer any investment advice or related investment services.
Content found on the website www.marketsbettors.com is only indeed for information purposes only and it is addressed to the general public and not to any specific recipient. It is not a substitution for professional advice or legal opinion and no liability will be accepted. One must not rely on it without executing their own investigation and analysis on the matters found in this material.
No responsibility can be accepted by the authors in respect of any actions, decisions or any losses arising directly or indirectly for the information found on the website.