Terms of service
These terms and conditions shall apply to all Capital Plus Management Limited Investment Accounts and form an integral part of the Agreement with I/We.
1.0 Account Opening
I/We have irrevocably requested and Capital Plus Management Limited has agreed to open an investment Account (the account) on behalf of I/We.
2.0 Authenticity of instrument
I/We to assume full responsibility for genuineness, correctness and validity on all cheques or other document deposited for investment.
3.0 Law
I/We to assume full responsibility for genuineness, correctness and validity on all cheques or other document deposited for investment.
by facsimile, untested telexes, photocopied letters, electronic mail issued according to the account mandate unaccompanied by an original copy of I/We duly signed letter, irrevocably undertaking to indemnify Capital Plus Management Limited and hold it harmless from and against all cost (including but without limitation to legal fees and expenses, claims, losses, liabilities and damages.
4.0 Instructions
I/We authorized Capital Plus Management Limited to honour all written instructions issued on the Account Mandate. Capital Plus Management may refuse to act on any instruction if the instruction authenticity is in doubt.
5.0 Acceptable Fund Transfer Instruction
I/We agree that all instructions on the account shall be duly signed according to the account mandate. I/We hereby acknowledge that the use of facsimile, untested telexes, photocopied letters, electronic mail (on the letterhead or otherwise) or other unsecured means of communication to convey instructions for fund transfers of any other such instructions not backed by a duly signed original letter from I/We, Whatever the case may be, is associated with additional risks of fraud. I/We shall execute an indemnity form in consideration of Capital Plus Management Limited agreeing to act upon any such instructions, communication and document by fascile
6.0 Fees and Charges
I/We agree that Capital Plus Management Limited shall set -off against the account any pre-advised charge(s), tariff(s), deductions and costs associated with the operation of the account by I/we.
7.0 Right to set off
I/We agree that in addition to any general lien or similar right to which Capital Plus Management Limited may be entitled by law, Capital Plus Management Limited may at any time and without prior notice to I/We combine or consolidate all or any of I/We accounts without liabilities to Capital Plus Management Limited or any other account or in any other respect whether such liabilities be actual or contigent,primary or collateral and several or joint.
8.0. Regulatory Disclosure
I/We agree that Capital Plus Management Limited to disclose any or all of information in compliance with any regulatory disclosure obligations statutorily imposed from time to time on Financial Institutions operating in the Federal Republic of Nigeria.
9.0 Know Your Customer (KYC)
9.1 I/We acknowledge and accept that the following KYC documentation has been provided, (or will be provided prior to opening the Account) to its relationship Manager or Capital Plus Management Limited representative:
- Duly completed and signed account opening form with all relevant fields competed.
- Board or Partnership Board resolution letter.
- Two (2) clear passport-size photographs of each signatory with names written on the reverse side.
- The Sighted, Notarized or Certified copy of Certificate of Registration.
- The Sighted, Notarized or Certified copy of the Memorandum and Article of Association.
- The Sighted, Notarized or Certified copy of the Particulars of the Directors or its equivalent.
- The Sighted, Notarized or Certified copy of the particulars of the Shareholders or it equivalent.
- The Sighted, Notarized or Certified copy of proof of registered address of the company.
- The Sighted, Notarized or Certified copy of the means of identity and proof of address of all signatories to the account
- The Sighted, Notarized or Certified copy of Certificate issued by the Special Control Unit against Money Laundering (SCUML).
- Tax Identification Number (TIN)
- The Sighted, Notarized or Certified copy of the regulatory or supervisory license to operate, if any.
9.2 I/We understand and agree that if ALL of the relevant KYC documents indicated in 7.1 above together with the duly completed and signed application form are not provided to Capital Plus Management Limited within fifteen (15) days of receipts of payments by Capital Plus Management Limited in any of its stipulated account, Capital Plus Management Limited shall:
- In the case of payments made electronically into Capital Plus Management Limited, investment actions will not be taken on such account.
- In the case of payment which were made by cheque or cash deposits over the counter in the name of the issuer of the cheque, or the name of the depositor as the case may be, which cheques/cash shall be retained in Capital Plus Management Limited possession until picked by I/We.
For the avoidance of doubt, no returns or interest shall be earned on the funds in respect of (a) and (b) above.
9.3 I/We understand and agree that no Account shall be opened where incomplete KYC/documentation has been provided by I/We. For the avoidance of doubt, the Account shall only be opened, upon receipt of COMPLETE KYC documentation.
10.0 Indemnity for Third Party Instruments
I/We agree that in consideration of Capital Plus Management Limited issuing or accepting third-part Bank cheques, Bank draft and/or other negotiable instruments from time to time, I/We hereby irrevocably undertake to fully indemnify Capital Plus Management Limited against all losses, expenses, costs, damages or otherwise, that may occur as a result of the issuance or acceptance of the said third-party cheque, draft and/or negotiable instrument.
11.0. Disruption of Service(s)
I/We agree that Capital Plus Management Limited have no liability for failure to provide any agreed service(s) due to reason beyond its reasonable control. These reasons include but not limited to industrial action, failure of electricity supply, riots, civil commotion, political unrest or armed insurrection.
