THE CREATION OF AN ACCOUNT MEANS USER ACCEPTS ALL THE TERMS & CONDITIONS OF
THIS AGREEMENT.
This User Agreement ("Agreement") between GTC and You is part of the entire GTC
REGULATORY ACTS. The Agreement sets forth the terms and conditions by which You
will receive certain electronic services ("Services"), including electronic access
to your Investment Account(s) through GTC Company's World Wide Web site ("Site")
on the Internet ("www.gulft-c.com"). It also defines the terms, conditions and your
obligations and rights regarding all investment transactions that Gulf financial
co permits You to enter through its proprietary on-line order entry system ("System")
on the Site.
By creating an account(s) you evidence your acceptance of this binding Agreement
and your agreement to comply with all rules or restrictions posted by GTC on the
Site; including the conditions specified in the Disclaimer and Privacy Policy pages
published elsewhere on this Site.
1. Definition of Terms
1.1. "The Service" means every GTC Services .
1.2. "Customer" means any user accessing the GTC with permissions granted by The
Service.
1.3. "Personal Account" means an account registered by Customer at www.gulft-c.com
for investment purposes.
1.4. "Deposit account means the act of transferring value of KD by Customer to The
Service for investment purposes.
1.5. "Security Information" means a series of characters, known only to Customer,
deemed of suitable complexity as determined from time to time by The Service.
For purposes of this agreement, E-pin also refers to other authentication mechanisms
to which The Service and Customer mutually agree.
1.6. "Customer Service" means the entity or entities appointed by the Service to
operate website, investments, payment transactions and or database servers and to
maintain their physical and network security.
1.7. "Investment Period" means 18, 21, 24, 27, 30 calendar months from the moment
of Investment.
2. Terms of Use
2.1. Customer acknowledges that The Service is not a bank or GTC member, Investment
Accounts are not insured by any government agency and/or GTC. The Service is just
an corporate intermediary between GTC brokers and Customers.
2.2. Customer agrees that all Customer obligations under this Agreement are the
joint and several obligations of all the Customers with greater than read-only access
to a Investment Account.
2.3. Customer must provide The Service with valid and accurate identifying information
as determined from time to time by The Service. Due to the International Anti Money
Laundering Act, 1996 (Act 8 of 1996) The Service has the right to check validation
of any Customer contact information and suspend the Investment Account for violating
this rule while verification process is accomplished.
2.4. Irrevocability of Investments
2.4.1. Customer agrees that all Investments initiated by Customer are final and
not reversible.
2.4.2. Customer is responsible for all Investments from Customers' Investment Account,
even if the instructions provided by Customer are incorrect.
2.5. Any disputes that arise between Customers are not the responsibility of The
Service.
2.6. Protection of Password, Member ID, E-pin
2.6.1. Customer is responsible for the protection of Customer's Information that
grants access to Customer's Investment Account.
2.6.2. Customer agrees that, in case of the loss or misuse of Customer's E-pin,
The Service disclaims all liability for such loss.
2.6.3. Customer shall indemnify and hold harmless The Service for relying on transactions
authorized using Customer's E-pin prior to such time as Customer notifies the Service
that Customer's E-pin has been compromised.
2.6.4. Customer acknowledges and accepts that in the case of a claim of unauthorized
activity, the presumption shall be that all activity is authorized by and are the
liability of the Customer.
2.6.5. Customer must not divulge Customer's E-pin to anyone else, nor may Customer
use anyone else's E-pin. Customer agrees that The Service will treat any person
accessing Customer's account using Customer's E-pin as the Customer.
2.6.6. The Service is not responsible for losses incurred by Customer as the result
of Customer's misuse of a E-pin.
2.6.7. Customer agrees that any action taken by any person using Customer's E-pin
shall be binding on Customer and all other parties with an interest in that Investment
Account.
2.7. Customer agrees to indemnify and hold harmless The Service, its staff and any
other employees from any claim or demand whatsoever relating to or arising out of
Customers' use of The Service services, except for any loss caused by negligence
or willful misconduct of The Service.
3. The Rights and Duties of the Parties
3.1. Reserve Requirement
3.1.1. All investments with The Service in circulation are 100% backed by KD in
allocated storage at all times.
3.1.2. Under no circumstances will The Service abrogate its obligation to back all
Bank guaranty with (at least) 100% reserve of physical KD.
3.2. The Service will ensure that a secure online Account System is made available.
3.3. The Service obligates to payout 10-17% variable dividends' rates monthly (every
first day of month) during whole Investment Period or compounded profit after the
whole Investment Period (for compounded investments).
3.4. Privacy
3.4.1. The Service will produce and maintain a Privacy Policy, which will be publicly
available at the Site. In the case of any conflict between the Privacy Policy and
this Agreement, the terms of this Agreement will control.
3.4.2. The Service otherwise approved by Customer or ordered by a court or arbitration
body of acceptable jurisdiction, as determined by The Service, shall not reveal
Customers' contact or identifying information or transaction history to any third
party.
3.4.3. The Service will not store E-pin in plaintext. No employee of The Service
will ever ask for Customers' E-pin.
3.5. The Service does not charge any additional or hidden fees from the Customer
for the services.
3.6. Account Suspension
3.6.1. The Service has the right to suspend Investment Account based on the sufficiency
of the identifying information provided by Customer.
3.6.2. The Service may restrict Customers' ability to use more than one Personal
Account in an attempt to circumvent this limit.
3.6.3. To protect financial stability of The Service and its investors, Customer
agree:
a) to resolve all technical, financial or any other questions and problems with
Customer Service only.
b) not to leave negative statements about The Service on any public resources before:
contact Customer Service, receive response to his request from the Customer Service
earlier than 7 business days after sent a contact request.
3.7.6. Customer has no rights to distribute any false, calumny materials or information
not confirmed by any official acts (Decision of Court or the Arbitration Commission).
In case of the violation of these rules The Service has the right to terminate Customer's
Investment Account after an internal investigation without refunding.
3.7.7. The Service also can request the Customer/Visitor to compensate a material
damage suffered by the company in Court as a result of the wrongful actions described
above.
3.8. The Service will not escheat inactive Deposit Accounts. An inactive account
with a balance shall remain dormant forever, other than continued assessment of
fees, unless and until an heir presents valid documentation entitling the heir to
inherit the account.
3.9. Force Major
3.9.1 The Service will not be responsible for delays of dividends' payments or failures
in the transmission, receipt or execution of orders, payments, deliveries or information
due to events beyond its control. The obligations of this contract precede any Kuwait
government enactment.
3.9.2 The Service has the right to change dividends' rates or an investment term
if this will be caused by any force major circumstances, which can put under risk
principal investments of existing investors or make The Service business unprofitable.
3.10. The Service reserves the right to refuse service to particular individuals
or entities, at its sole discretion.
3.11. The Service has no right to suspend any active Customer's Personal Account
without any case if Customer does not broke rules of The Service.
3.12. The Service will suspend the Investment Account of Customer if Customer uses,
or attempts to The Service in connection with tampering, cracking, spamming, modifying
or otherwise corrupting the security or functionality of the Service system. Additionally,
Customer will be subject to damages and other penalties, including criminal prosecution
where available and the notification of the general public of Customer's actions,
at the sole discretion of The Service.
3.13. The Service retains all right, title, and interest in and to trademarks. Customer
shall only use The Service trademarks with the express permission of Customer. Customer
shall not use the trademarks in any manner that is disparaging to The Service. Under
no circumstances Customer may alter, modify, or change The Service's trademarks.
4. Waiver
4.1. Failure to exercise or delay in exercising any right, power or remedy hereunder
by The Service shall not operate as waiver thereof, nor shall any single or partial
exercise of any right, power or remedy of The Service hereunder preclude any other
or future exercise thereof or the exercise of any other right, power or remedy.
5. Severability
5.1. In the case of any provisions of this Agreement shall be determined by an arbitration
body or a court of competent jurisdiction to be unenforceable in any jurisdictions,
such provision shall be unenforceable in that jurisdiction and the remainder of
this Agreement shall remain binding upon the parties as if such provisions were
not contained therein. The enforceability of such provision shall otherwise be unaffected
and remain enforceable in all other jurisdictions.
6. Assignment
6.1. The provisions of this Agreement shall be continuous and shall inure to the
benefit of The Service, its successors and assigns, and shall be binding upon Customer
and/or the estate, personal representatives, administrators and successors of Customer.
The Service may assign its rights and delegate its duties as to any or all transactions
under this Agreement. Customer shall not delegate any obligations hereunder without
the prior written consent of a duly authorized officer of The Service and any attempt
at such delegation without such consent shall be void.
7. Jurisdiction
7.1. This Account Agreement is governed by the laws of KUWAIT as such laws are applied
to agreements entered into and to be performed entirely within KUWAIT by KUWAIT
residents.
8. Entire Agreement
8.1. This Agreement constitutes the entire and whole Agreement between Customer
and The Service and is intended as a complete and exclusive statement of the terms
of the Agreement. This Agreement shall supersede all other communications between
the parties. This Agreement may be amended only upon execution of a subsequent agreement
or upon Customer's failure to object within 3 days to modifications posted on The
Service's website.
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