Parthian Securities Limited – Terms & Conditions
PLEASE READ THESE TERMS AND CONDITIONS ("Terms") CAREFULLY. THESE TERMS FORM A LEGAL AGREEMENT BETWEEN PARTHIAN SECURITIES LIMITED AND YOU. BY CLICKING ON "I ACCEPT" OR "I AGREE" OR BY DOWNLOADING, INSTALLING OR OTHERWISE USING THE SERVICES, YOU ACCEPT AND AGREE TO THE TERMS CONTAINED HEREIN. IF YOU DO NOT AGREE TO THESE TERMS, DO NOT CLICK "I ACCEPT" OR "I AGREE" OR DOWNLOAD, INSTALL OR USE THE SERVICES
For this Agreement, the term “the Company, we, us and our” shall mean Parthian Securities Limited and its affiliates while the term “you, your” shall mean the Client/Customer.
General Provisions
These Terms and Conditions contain and constitute the entire understanding and agreement between us in connection with and about the subject matter of these Terms and Conditions and supersede all earlier and other agreements and understandings between us and all earlier representations by either of us about such subject matter. Any prior representations, warranties, statements, and assurances which are not expressly set out in these Terms and Conditions will be of no effect. Each party warrants that there is no representation, warranty, promise, term, condition, obligation or statement upon which they have relied in entering into these Terms and Conditions and which is not expressly set out in these Terms and Conditions and no such representation, warranty, promise, obligation, statement or any other term or condition is to be implied in them whether by virtue of any usage or course of dealing or otherwise (including by statute or common law) except as expressly set out in these Terms and Conditions.
In the event of a lack of clarity on the interpretation of one or multiple provisions of these general Terms and Conditions, interpretation must adhere to ‘the spirit’ of these provisions.
If a situation were to occur between the parties that is not covered by these general Terms and Conditions, the situation will have to be assessed while adhering to the spirit of these general Terms and Conditions.
The Company reserves the right to reject use of the services or registration without having to state reasons or to make an agreement conditional on certain other requirements being met. If the Company decides to reject use of the services or registration, the Company shall notify the person who submitted the registration within 10 working days after receiving the registration.
Account Opening
Every client shall complete and submit the account opening documentation from our website: www.parthiansecuritesng.com
Every client is required to provide valid means of identification such as driver’s license, National Identity Card and /or international passport for Individual Account Opening with the Company and Company Registration documents such as Certificate of Registration, List of directors of company CAC FORM CAC 7 and CAC FORM 2. Other documents such as a Board Resolution authorizing the opening of the account with the Company; valid identification of authorized signatories for Corporate Account Opening. the Company shall not be liable for the integrity of any of these documents provided. Additionally, proof of address such as a utility bill or bank account statement showing the same address as listed on the account opening form is required.
Furthermore, Active bank account details shall be required to be provided by the you. The name used in opening the account must correspond with the name provided in the bank account details. Any other requirements as may be provided by law or any regulation from time to time may also be required and communicated to the you.
If the client wishes to change any significant information (such as address, phone number, email address e.t.c.) with which the account was opened, the client shall be required to supply the new details by mail to clientadmin@parthiansecuritiesng.com or info@parthiansecuritiesng.com
You may open an account(s) with the Company by inter-member transfer of stocks from another stockbroking firm. However, the responsibility, costs, and risk of moving the accounts shall rest solely on the client.
The Company shall in addition to any right of set-off or similar right prescribed by law be entitled without notice to combine or consolidate all or any of the client’s account with us to set off any amount owed by the client(s) to the Company against any money which we may hold for the client’s account whether the account is held in Naira or in any foreign currency.
You hereby FREELY waive your right to be issued share certificate(s) under section 171 of the Companies & Allied Matters Act 2020 and under the Memorandum and Article of Association of the listed companies for your benefit. You further DECLARE that you shall accept as sufficient certification of your shareholding any memorandum to that effect delivered to the client by the listed company(ies) or the CENTRAL SECURITIES CLEARING SYSTEM LIMITED acting on your behalf as the satisfaction of your right under the law and under the Memorandum and Article of Association aforementioned.
Account Operations
Your mandates shall be required to come in through the e-trade portal, your registered email address and/or a dedicated mandate line.
Unexecuted mandates without period limits would be valid for just a day except you object through the appropriate transaction media.
You may fund your account for trading purposes by paying value into the designated bank and / or through e-payment modules on the website.
You are responsible for initiating payment request through transaction media, and shall bear all the charges involved in all online payments
Payment from your accounts with the Company would be done electronically to your bank account provided or nominated by you pursuant to any agreement or information provided by you in that regard. Payments shall not be made to 3rd parties but only to bank account provided or nominated by you.
This retail service shall not permit other requests such as moving account to Parthian Securities Limited or changing of address in registrar, following up on missing certificates or dividend warrants except where Client is interested in our VAS (Value Adding Service).
Information Technology
Access to and use of this website and other platforms is at the users own risk. The Company does not represent or warrant that the use of this site or any material downloaded from it will not cause damage to property, including but not limited to loss of data or computer virus infection.
Third parties are not permitted to link any other website to this site without obtaining prior written consent from the Company.
Parthian Securities Limited shall not be responsible for any loss, omission or damage that may arise due to IT or network downtime. This shall include theft or divulgence of password leading to any liability on the account
The responsibility for the security of clients’ password shall remain with the client and shall at no point shift to the Company.
While the Company would make all reasonable attempts to ensure the system operates effectively, Parthian Securities Limited makes no guarantees that the fully automated systems will correctly perform all the functions optimally.
Parthian Securities Limited will use every reasonable endeavor to ensure the integrity and security of the server. However, the Company does not and cannot guarantee that the server will be free from unauthorized users or hackers and shall not be under liability for non-receipt of funds or instructions/trade mandate or misrouting of email or for any other network failure.
Short Messages / facsimiles and or e-mails are an insecure transmission medium and are subject to call-back procedures. The Company shall not be liable for any loss, liability or damage as well as costs, charges and expenses arising out of or by reason of our honoring such items, be it erroneous, fraudulent or otherwise drawn as aforesaid.
Indemnity
The Company is hereby authorized to honor for the stockbroking account and to your debit each trade instruction (whether buy or sell) and/or funds withdrawal or transfer request in client’s name from client’s stockbroking account(s) with the Company bearing or purporting to bear Client’s Short Messages / or facsimile signature(s) from recognized phone numbers as herein registered or bearing or purporting to bear e-mail name and address as herein registered. Or such other signatures which resemble(s) the specimen(s) thereof at any time(s) filed with Parthian Securities Limited; that the honoring of any such items drawn as aforesaid is hereby rectified, confirmed and approved by you.
That all instruction given by you to the Company now governing the operation of your account(s) with the Company is/are hereby continued in full force and effect, except as the same may be supplemental or modified by the foregoing part of this instruction.
That the Company may rely upon this instruction unless and except to the extent that this instruction be revoked or modified by the subsequent instruction from you and such subsequent instruction received by the Company.
You understand that short Messages/facsimiles and or emails are insecure transmission medium and are subject to call-back procedures and hereby indemnify the Company against any loss, liability, or damage as well as costs, charges, and expenses which the Company may suffer or incur however arising by reason of the Company honoring such items, be it erroneous, fraudulent or otherwise drawn.
Regulatory Compliances
All dealings with clients and agents on the Parthian Securities Limited website shall be in strict compliance with the policies, codes, conducts, ethics and regulations of the Securities and Exchange Commission (SEC), FMDQ Exchange, and Nigerian Stock Exchange (NSE).
You may terminate this contract either through an inter- member transfer to another brokerage house or through outright sales.
The Company shall not be responsible for the vagaries of the stock market and the consequent diminution in the value of the holdings of our clients.
The Company expressly disclaims all and provides no representations or warranties in respect of our website, its contents and the services provided by us. We do not represent or warrant that the information accessible on or via this website is accurate, complete, or current.
If any provision or part of a provision of this agreement is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force. If any invalid, unenforceable or illegal provision is deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.
Copyright and Trademark
Copyright in the pages, screens, information, and all material in their arrangement, included on the Site is owned by or licensed to us unless otherwise noted.
Parthian Securities Limited network and all other designs and software applications deployed on this website and other platforms and for the use of this product are copyrighted materials under the laws of the Federal Republic of Nigeria and applicable international treaties. These applications regardless of the form or medium in which the original or copies may exist are the sole and exclusive property of Parthian Securities Limited. These applications including the source and object codes, logic, and structure, constitute valuable trade secrets of Parthian Securities Limited. We may in our sole discretion change, terminate, suspend, or discontinue any aspect of the application, including but not limited to contents, features, or hours of availability without notice to its users.
The trademarks, service marks, logos, trade dress, URLs and domain names appearing on this site are the property of Parthian Securities Limited, its affiliates or third parties who have granted us permission to use the marks. The Client shall not use, copy, download or display any of the marks herein mentioned. Any unauthorized use of the Company’s trademark is STRICLTY PROBIHITED. Other products and company names mentioned in the site may be the trademarks of their respective owners.
You may not use the Site for any purpose which is unlawful, abusive, libelous, obscene, or threatening. The Company shall not be liable, jointly or severally for any unlawful, abusive or other wrongful use of the website or other platforms.
Confidentiality and Data Security
You are the owner of all data entered and stored in our System by. You are solely and exclusively responsible for the reliability and accuracy of the data.
During the Registration process, you shall be required to share and upload personal data on the electronic form. Personal data shall include personal information including but not limited to your name, e-mail address, bank accounts, and other information required by us during registration and may pass as personal information under the Nigeria Data Protection Regulation (NDPR) 2019 (“Personal Information”).
You agree that the Personal Information shall always be accurate, correct and complete. As part of the Services, you authorize us to import your details and Personal Information dispersed over Third Party Platforms. You understand and acknowledge that we may periodically request for updates on such Personal Information, and we may receive such updated information from Third Party Platforms.
We collect, store, and use the data stored in compliance with the NDPR 2019, hence you hereby, expressly out of your own free will and without any undue influence, coercion, fraud, mistake, misrepresentation provide your consent to Parthian Securities Limited to use, access, modify, store, download, upload or take any other action in relation to any data stored.
The personal data provided during the registration is stored by the Company for your convenience. You understand and acknowledge that by accepting these Terms and Conditions, you authorize us to track, fetch and use the personal data, including but not limited to your Personal Information, for the purpose of authentication and any updates with regards to your credentials.
The Company agrees to make a daily back-up of data entered by the Customer to save the data and prevent data loss. Back-ups will be retained for 60 days and then deleted automatically.
The Company is not allowed to use information submitted by you for any purposes other than the purpose for which it is obtained and stored. If you terminate the Agreement, your data will no longer be available.
You guarantee compliance with all requirements with respect to legitimate processing of the data entered or provided by the you and processed and hosted by the Company. You also guarantee towards the Company that the data is not illegitimate and does not breach third-party rights. You indemnify the Company against any third-party claims on any grounds in relation to this data or the performance of the agreement.
A Data Processing Agreement is a standard part of a subscription to our services. When taking out a subscription to our services, you accept the Data Processing Agreement. For further details on the processing of personal data, reference is made to the Privacy Policy.
DISCLAIMER OF WARRANTIES
You expressly understand and agree that your use of the Services is at your sole risk. The Services are provided on an “as is” and “as available” basis. The Company expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. Any material downloaded or otherwise obtained through the access or use of the website or other platform is at your own discretion and risk and that you will be solely responsible for any damage to your computer system, electronic data or loss of data that results from the download of any such material.
No advice or information, whether verbal or written, obtained by you from the Company, for the Services or through any of the Company’s platform shall create any warranty not expressly stated in these Terms.
You shall be solely responsible for the use, misuse, improper usage of the Services and any of the Company’s platform. The Company shall not be liable for any damages accruing out of the use of the Services which have not been expressly stipulated under these Terms. The Company makes no warranty, including implied warranty, and expressly disclaims any obligation not expressly provided herein or in any agreement between the Company and you.