Terms and Conditions for Opening an Electronic Account

Article 1: Conditions for Opening an Account

1. This account is subject to the regulations, instructions, and laws issued by the Syrian Securities and Exchange Commission, the Damascus Securities Exchange, and the Anti-Money Laundering and Terrorism Financing Commission.
2. The company is obligated to activate the account for the client after completing all requirements, and the company bears no responsibility to the client until the client is notified of the account opening.
3. The company assigns a trading number to each client for all securities transactions, and the client is responsible for disclosing their account number to any third party.
4. No more than one trading account can be opened with the same national ID number and mobile phone number.
5. The maximum deposit limit for clients with electronic accounts is 1,000,000 SYP per day, and the total deposit ceiling is 5,000,000 SYP under all circumstances.
6. Clients with electronic accounts cannot place orders exceeding 1,000,000 SYP (buy or sell), and this account cannot be used to sell securities not purchased through it.
7. The client commits that they are the original account holder and the sole beneficiary of opening the account and that they do not deal with any unknown funds or fictitious names.
8. The client is solely responsible for safeguarding their account login information, and the trading number is considered as the password for identifying the client.
9. The client must notify the company in case of losing, misplacing, or having their device or account information stolen.
10. Ethical conduct principles and rules are an integral part of the account opening terms.
11. All current and future regulations issued by the Syrian Securities and Exchange Commission or the Damascus Securities Exchange are considered part of these terms.
12. The company is not responsible for any failure in the electronic trading service.
13. The electronic account will be frozen if no trading transactions are made by the client for one year from the date of opening the account.

Article 2: Broker's Rights and Duties towards the Client

1. The broker is obligated to execute the client's instructions accurately and faithfully.
2. The broker must inform the client of the full details of executed transactions for their account.
3. The broker may not execute any instructions from the client using methods not approved by the company.
4. The broker must ensure there is no conflict of interest between their interests and the client's interests.
5. The broker must inform the client of the risks associated with trading securities.
6. The broker is obligated to maintain the confidentiality of the information received from the client.
7. The broker is legally responsible if they act on the client's account in violation of the terms.
8. The broker may not stop, freeze, or modify the account except in accordance with the regulations.
9. The broker must deliver the amounts due to the client after deducting commissions on the settlement day.
10. The broker is obligated to pay all commission amounts related to the transaction to the relevant authorities.

Article 3: Client's Rights and Duties towards the Broker

1. The client is obligated to provide all requested information in accordance with the applicable regulations.
2. The client has the right to request any information or records related to their account within 7 days from the request.
3. The client may not deal with another broker without informing the current broker.
4. The client bears full responsibility for any losses resulting from failure to settle amounts due.
5. The client authorizes the broker to perform offsetting between rights and obligations.
6. The client commits not to give sell orders for securities they do not own.
7. The client has the right to claim compensation for damages resulting from the broker's failure to meet their obligations.
8. The client is obligated to cover any shortfall in the value of purchased securities.
9. The client authorizes the broker to disclose trading information to regulatory authorities upon request.
10. The client has the right to modify any unexecuted orders using the approved methods.

Article 4: Client's Declarations

1. I declare that I am of full legal capacity and sound mind and that I am over 18 years of age.
2. I declare that I accept the company’s request for electronic services and the sending of passwords via phone.
3. I declare that the company is not responsible for any losses or errors resulting from system malfunctions.
4. I declare that I have reviewed the risk statement related to electronic trading.
5. I declare that the buy and sell transactions I undertake are at my sole responsibility.
6. I declare that the software and applications used are the property of the company.
7. I declare that I am not listed on any blacklists.
8. I declare that I have reviewed all the terms and conditions related to the account.

Article 5: Broker's Commissions and Fees

1. The broker receives commissions and fees from the client within the regulatory limits.
2. The broker has the right to modify these commissions with prior notice to the client.
3. The commission is directly deducted from the client's account when transactions are executed.

Article 6: Termination of the Agreement

1. The terms of this agreement are subject to change by the commission or the exchange without prior notice.
2. The broker has the right to terminate the agreement if the client fails to comply with the terms.
3. The broker is prohibited from entering into new transactions after terminating the agreement except for settlement purposes.