Terms and Conditions
By agreeing to the terms and conditions set forth, you have understood and acknowledged privacy, bonus, trade, refund, payment, AML & KYC and all other relevant information subject to this Agreement. It is also understood and acknowledged that the client has read and understood the content of this Agreement. In the case where the client disagrees with the terms and conditions, the client should not create and use the account and applications on the company’s website. If the client continues to use the company’s services, it will be acknowledged that the client has agreed to the terms and conditions set forth.
“Account” shall mean the identification required to use the company’s site and platform.
“Service” shall mean the act of providing the use of the company’s site and platform to the client.
“Site” shall mean the proprietary site of the company www.ucommers.com and the application that is available from the Android and iOS app store on smart phones and tablets.
All Agreement documents, including Agreements or Agreement related documents between parties (not limited to this Agreement) shall be retained by the company during the term of the Agreement.
- Scope of this Agreement
This Agreement provides the foundation for the company to provide services to the client.
- Purpose of this Agreement
This Agreement will be effective from the day the client agrees to the terms and conditions on the company’s website.
- The parties, hereby agree as follows
- The company does not provide a segregated trust fund account services to the client;
- The company shall not engage in transactions or other solicitation in respect to the operations performed by the client;
- The company is obligated to process orders for the client even if the client is profitable or not;
- The company shall not be liable for any losses by the client as a result of its operations with respect to the client’s funds held by the company was directly involved in the loss due to material negligence, willful default, or fraud;
- The company is not responsible for any default on the other party, bank, custodian or other entity of the client for the reason that it has funds on behalf of the client.
- The client is solely responsible for the use of the services and failure to comply with any of its obligations under the Agreement.
- Client acknowledges that it is aware of the following:
All provisions of this Agreement shall be construed in full with client’s interactions, and client shall carefully read and agree.
- The client is solely authorized by the company to use the services and cannot assign rights and obligations to any other party to the legal relationship between client and company arising from the performance of this Agreement;
- You cannot delegate your rights to anyone and you cannot add this contractual obligation to a third party;
- If the client has a Canadian, Australian, New Zealand, UK, EU countries (Austrian, Belgium, Bulgarian, Croatian, Cyprus, Czech Republic, Denmark, Estonian, Finnish, French, German, Greece, Hungarian, Irish, Italian, Latvian, Lithuanian, Luxembourg, Malta, Dutch, Pole, Portuguese, Romanian, Slovakian, Slovenian, Spanish, Swedish) Israeli, Democratic People’s Republic of Korean citizenship or is a resident, any activities performed by the client on the site in accordance with the applicable laws of that country may be defined as illegal, invalid or not valid;
- A person other than the client is not authorized to operate the client’s account on the site, in which case the company will not be held responsible;
- The information that the client provides to the company is true, and the company will not be held responsible if it is false;
- Client acknowledges that financial risks may arise while using the service and the company is not liable for any loss resulting from the client’s operations.
- The rights and obligations of both parties
- The client has the following rights:
- Clients can place orders through the company’s site to enable the company to perform/proceed with the operation of client accounts;
- If the client believes that there is a controversy in respect to this Agreement, clients have the right to make an assertion by e-mail to the company with evidence;
- The client has the right to terminate this Agreement at any time without liability to the company.
- Client obligations
- Clients must comply with the terms and conditions of this Agreement when you receive services from the company to conduct your site operations;
- The client must keep their account information safe and not delegate it to third parties in order to use the site;
- If there is a change in the client’s personal information (contact, address etc.) the client shall notify the company of any changes via e-mail within seven (7) days from the date of the change;
- Only one account can be made per client.
- Company obligations
- If the client breaches any of its obligations under this Agreement, the company has the right to immediately terminate services; otherwise, the company has to notify the client 3 business days prior to the termination of the Agreement.
- Depending on changes in the foreign exchange market, you can change profit margins and returns, change the maximum and minimum option amounts and types, change/add or add expiration dates for multiple assets or for all assets. The company reserves the right to limit the maximum amount of the purchase option for all periods (1 minute, 1 hour, 1 day or otherwise) appearing on the trading platform.
- The company has to notify the client 1 week prior to any amendments or partial amendments made.
- In case of force majeure, the company may temporarily suspend the provision of services to the client and may notify the cause at a later date.
- In the case the client breaches the agreement; the company has the right to amend the obligations of the client under the obligations of the company.
- If the client’s account is dormant for a period of 6 months, the company may suspend the account without any notice. In the case where there is balance remaining, the company will notify the client by e-mail and ask to request the suspension of the account.
- If the client tries to deposit over $3000 or tries to deposit over 10 times, with the trying to deposit the above, and there is no information of the payment being made, the company has the right to decline all of the transactions. In this case, the company will refund the deposited amount to the registered bank account
- If the client has a technical issue with the payment system, the company will quickly try and resolve the issue. If the issue was not a technical issue but caused by the client due the lack of knowledge of the payment system, the company will not be held responsible for any losses. In the case of technical issues, The company will close the accounts temporarily to find and resolve the error.
- If the amount traded is less than the deposit amount, 10% of the transactional fees will be deducted.
- If an incident occurs which is not included in this agreement and there is a problem in the operation of the client’s account and provision of the company’s service, the company will provide the service in the discretion of the business and existing practice.
- Company’s obligations
- The company shall provide the services of the site to the client in accordance to the terms and conditions of this Agreement.
- The company shall provide the services in the best of their capability to perform its obligations under this Agreement.
- Applicable laws
- The terms and conditions are governed by the laws of Vanuatu.
- In the event of any dispute arising from the performance of this Agreement, it shall be settled in Vanuatu Courts (Island Courts)
- Responsibilities and waiver
- Both parties shall faithfully fulfill their obligations under this Agreement and shall be liable to indemnify the other party for any damages incurred by the other party in breach of contractual obligations.
- The company shall be liable to compensate for the damages caused by the violation of the laws and the Agreement or neglect of the business to the client. However, the company shall not be liable for any damages arising out of the instructions of the client or in the case where the company has paid considerable attention to the client.
- The company shall not be liable for the losses caused by the client’s decision.
- The company shall not be liable for any losses or damages arising from the execution of transactions on behalf of a client such as trader, bank, custodian, or any other third parity of the client.
- The company does not provide investment advice. From time to time, news, references or links to websites or other information provided by the company are not investment advice to the client and the company shall not be liable for the loss resulting from client’s reliance thereon.
- Orders other than the client’s orders placed through the site platform or company-approved mobile apps are not valid orders and the company will be exempted from any action taken.
- The company shall not be liable for any errors or damages of the client caused by natural disasters or deviations.
- The company shall not liable to the client for any losses or damages incurred by clients due to delays in communications, network failures, etc. caused by reasons other than company’s negligence.
- Minors cannot use this service. The company must go through the process of confirming that the client joining the server is not a minor for the use of this service. The company shall not be liable for any losses or damages incurred by a minor if the account is operated by some else’s information.
- The company shall have no liability whatsoever for any losses or damages incurred by the client in the event that the company cancels the clients transaction and blocks the client’s account due to false information or breach of this Agreement.
- The company will not be liable for any loss or damages from countries which are mentioned in 3.2.ii.