Email or Other Electronic Communication Indemnity
Welcome to MAVEN Asset Management Limited (“MAVEN”). This page outlines the terms under which we process and act upon instructions received via electronic mail (“email”) or other electronic communication channels for the operation of your investment account with us.
By continuing to engage with us and by sending instructions via email or other electronic means, you acknowledge and accept the terms stated below.
Authority to Act on Email Instructions
MAVEN Asset Management Limited is authorized, at its sole discretion, to consider and act upon instructions received via email from addresses provided during your account opening or subsequently updated by you. We may act on such instructions without requiring an original signature, further confirmation, or verification of authority or identity beyond the email received, provided we act in good faith.
We may treat any email instruction as fully authorized by and binding upon you, whether it relates to payment instructions, securities purchases or sales, or any other transaction, regardless of the transaction amount. However, we may, at our discretion, request that a scanned copy of an email instruction be duly signed in line with your existing mandate with us.
Indemnity
You agree to indemnify and hold MAVEN Asset Management Limited harmless against all losses, claims, actions, proceedings, demands, costs, and expenses incurred or sustained by us in connection with acting upon your email instructions, provided that we act in good faith.
This indemnity remains in effect until MAVEN receives written notice of termination from you. Termination will not release you from liability for actions taken by MAVEN in accordance with this indemnity before the termination date.
General Conditions
Client Definition
“Client” refers to any individual, joint account holders, or corporate entities for whom MAVEN Asset Management Limited maintains an account.
Statements and Reports
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Quarterly statements of account will be issued.
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Half-yearly investment performance reports will be provided.
Taxes
Any taxes or duties levied on your holdings or related securities shall be borne by you, even if the demand for payment arises after the account is closed.
Approval of Statements
Objections to statements or reports must be made immediately upon receipt and must reach MAVEN within six weeks of issuance. After this period, statements will be deemed approved.
Correspondence
Communications sent to your last known address will be deemed delivered. Unless otherwise instructed, MAVEN will retain correspondence and may destroy them, including cheques or instruments returned unpaid, three years after issuance.
Security Interest
MAVEN has a pledge over securities, funds, or property held in your account to secure all claims by MAVEN, whether due or not. MAVEN may realize pledged assets to recover debts if obligations are not fulfilled.
Credit Facilities
MAVEN may, at its discretion, extend credit facilities to clients for investments, subject to agreed collateral requirements.
Payment of Indebtedness
You remain liable for any indebtedness on your account and for any costs of collection, including legal fees, as permitted by law.
Transmission Risks
MAVEN shall not be liable for losses or damages arising from using postal, telegraph, telephone, telex, or other transmission methods, provided MAVEN has acted prudently.
Foreign Currency Accounts
Foreign currency investments are made in the name of MAVEN but at the client’s risk, subject to local laws and restrictions in relevant jurisdictions.
Signatures
Signatures will be compared with specimen signatures on file, and further verification is not required unless gross negligence is evident. Clients must promptly notify MAVEN of changes in authorized signatories.
Custody
Securities may be held in MAVEN’s vaults, with appointed agents, or with authorized custodians at no additional cost to the client.
Securities Lending
To maintain credit facilities, MAVEN may lend securities from client portfolios to third parties where legally permissible, with clients acknowledging potential limitations on voting rights.
Joint Accounts
Obligations of joint account holders under this agreement are joint and several.
Withdrawals
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7 days’ notice is required for withdrawals not exceeding 10% of the market value of your portfolio.
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21 days’ notice is required for withdrawals exceeding 10% but not amounting to a full liquidation.
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Delays may occur in emerging markets due to liquidity conditions.
Capacity to Contract
Clients represent that no other party has an interest in their account unless previously disclosed.
Confidentiality and Disclosure
MAVEN maintains confidentiality of client account information but will disclose such information to regulatory authorities if required by applicable laws.
Important Notes
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Always quote your CSCS Account Number when submitting buy or sell mandates to ensure accurate processing.
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For all account-related correspondence or mandate instructions, please use the designated support email:
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You may join our customer WhatsApp group to receive timely market updates. [Insert link if available].
By proceeding with electronic communications and instructions with MAVEN Asset Management Limited, you acknowledge that you have read, understood, and accepted the terms above.
For any inquiries or clarifications, please contact us at support@maml.com.ng.