In consideration of IA Commodities, (hereinafter referred to as" IA Commodities ") acting as broker and accepting one or moreaccounts in futures trading or any other product approved for trading by IACommodities regulatory authorities (collectively, "(Futures Trading")for the undersigned ("Customer"), it is agreed with respect to allaccounts, whether upon margin or otherwise, which Customer now has or may atany future time have with IA Commodities , including accounts from time to timeclosed and then reopened, as follows:
9. AUTHORIZATION
Customer authorizes IA Commodities to purchase and sell futurescontracts for Customer's account in accordance with Customer's oral or writteninstructions. Customer hereby waives any defense that any such instructionswere not in writing as may be required by any law, rule, or regulation. Theauthority hereby conferred shall remain in force until written notice of itsrevocation signed by Customer.
10. GOVERNMENTAL AND OTHER RELATED RULES
All transactions shall be subject to the constitution, by-laws,rules, regulations, customs, usages, rulings and interpretations of theexchange, board of trade, contract market or other market (and its clearinghouse, if any) where executed and to all applicable federal and state laws andregulations. If any statute, rule, or regulation shall hereafter be adopted byany governmental authority, exchange, board of trade, clearing house, or selfregulatory organization which shall be binding upon IA Commodities and shallaffect in any manner or be inconsistent with any of the provisions hereof, theaffected provisions of this agreement shall be deemed modified or superseded,as the case may be, by the applicable provisions of such statute, rule, orregulation, and all other provisions of this agreement and provisions so modifiedshall in all respects continue in full force and effect. This paragraph issolely for IA Commodities protection and IA Commodities failure to comply withany such statute, rule or regulation shall not be a breach of this agreement orotherwise impose liability upon IA Commodities to Customer nor relieve Customerof any obligations under this agreement.
11. MARGINS
Customer shall provide to and maintain with IA Commoditiesmargin in such amounts and in such form as IA Commodities, in its sole discretion,from time to time may determine. Such margin requirements established by IACommodities may exceed the margin required of IA Commodities by an exchange. IACommodities may change margin requirements in its sole discretion at any time.If IA Commodities determines that additional margin is required, Customeragrees to deposit with IA Commodities such additional margin when and asrequired and demanded by IA Commodities, and will promptly meet all margincalls in such manner as IA Commodities shall designate in its sole discretion.Notwithstanding any demand for additional margin, IA Commodities at any timemay proceed in accordance with paragraph 5 below, and any failure to proceedshall not be deemed a waiver of any rights by IA Commodities. No previousmargin shall establish any precedent. IA Commodities shall not be liable toCustomer for the loss of any margin deposits which is the direct or indirectresult of the bankruptcy, insolvency, liquidation, receivership, custodianship,or assignment for the benefit of creditors of any bank, another clearingbroker, exchange, clearing organization, or similar entity.
12. SECURITY AGREEMENT AND TRANSFER AUTHORIZATION
(a) All funds, securities, commodities, open futures contracts,and other property of the Customer which IA Commodities at any time may becarrying for Customer (either individually, jointly with others, or as aguarantor of the account of another person) or which at any time may be in IACommodities possession or control or carried on its books for any purpose,including safekeeping, are to be held by IA Commodities as security and subjectto a general lien and right of set-off for all liabilities of Customer to IACommodities or any affiliate of IA Commodities. From time to time, IACommodities in its sole discretion, without prior notice to Customer may, applyor transfer any funds (including segregated funds) or other propertyinterchangeably between any of Customer's accounts at IA Commodities or anaffiliate of IA Commodities as may be necessary for margin or to satisfy orreduce any deficit or debit balance in any such account. Within a reasonabletime after any such transfer, IA Commodities will confirm the transfer inwriting to Customer.
(b) Customer will not be permitted to make or change an electionconcerning account type. Subject to such requirements, Customer hereby grantsto IA Commodities the right to pledge, repledge, hypothecate, rehypothecate, orinvest, either separately or with the property of other customers, anysecurities or other property held by IA Commodities for the accounts ofCustomer or as collateral therefore, including without limitation to anyexchange or clearing house through which trades of Customer are executed. IA Commoditiesshall be under no obligation to pay to Customer or account for any interest,income or benefit derived from such property and funds or to deliver the samesecurities or other property deposited with or received by IA Commodities forthe account of Customer. IA Commodities may deliver securities or otherproperty of like or equivalent kind or amount.
(c) Any rights IA Commodities has under this agreement forpurposes of cross-collateralization and Customer default may be exercised byany affiliate of IA Commodities in connection with property and positions ofCustomer with such IA Commodities affiliate. As security for the payment of allCustomer's obligation and liabilities to a IA Commodities affiliate, each IACommodities affiliate shall have a continuing priority security interest in allproperty in which Customer has an interest held by or through a IA Commoditiesaffiliate. In order to satisfy and outstanding liability or obligation ofCustomer at a IA Commodities affiliate, such affiliates, at any time andwithout prior notice, may use, apply or transfer any such property andcollateral interchangeably between and among themselves. In the event of abreach or default under this agreement or any other agreement Customer may havewith a IA Commodities affiliate, each IA Commodities affiliate shall have allrights and remedies available to a secured creditor under any applicable law inaddition to the rights and remedies provided herein.
13. LIQUIDATION OF ACCOUNTS
In the event of (a) the death or judicial declaration ofincompetency of Customer, (b) the filing of a petition in bankruptcy, or apetition for the appointment of a receiver, by or against Customer, or any oneof the Customers if this is a joint account, (c) the filing of an attachmentagainst any of Customer's accounts carried by IA Commodities, (d) insufficientmargin as determined by IA Commodities in its sole discretion, or IACommodities determination that any collateral deposited to protect one or more accountsof Customer is inadequate, regardless of current market quotations, to securethe account, or (e) any other circumstances or developments that IA Commoditiesdeems to require action necessary for its protection, IA Commodities is herebyauthorized, according to its judgment and in its sole discretion, to take oneor more or any portion of the following actions: (1) satisfy any obligationCustomer may have to IA Commodities, either directly or by way of guaranty orsurety ship, out of any of Customer's funds or property in the custody orcontrol of IA Commodities; (2) sell any or all futures contracts held orcarried for Customer carried as a short position for Customer; and (3) cancelany or all outstanding orders, contracts, or any other commitments made onbehalf of Customer. Any of the above actions may be taken without demand formargin or additional margin, without prior notice of sale or purchase or othernotice or advertisement to Customer, his personal representatives, heirs,executors, administrators, legatees, or assigns, and regardless of whether theownership interest shall be solely Customer's or held jointly with others. Inliquidating Customer's long or short position, IA Commodities, in its solediscretion may sell or purchase in the same contract month or initiate new longor short positions in order to establish a spread or straddle which in IACommodities judgment may be necessary or advisable to protect existingpositions in Customer's account. Any sales or purchases hereunder may be madeaccording to IA Commodities judgment and at its discretion on any exchange orother market where such business is then usually transacted or at publicauction or at private sale, and IA Commodities may purchase the whole or anypart thereof free from any right of redemption. It is understood that, in allcases, a prior demand, call, or notice of the time and place of a sale orpurchase shall not be considered a waiver of IA Commodities right to sell orbuy without demand or notice as herein provided. Customer at all times shall beliable for the payment of any debit balance upon demand by IA Commodities, andshall be liable for any deficiency remaining in Customer's account(s) in theevent of the liquidation thereof in whole or in part by IA Commodities or byCustomer. In the event the proceeds realized pursuant to this authorization areinsufficient for the payment of all liabilities of Customer due to IACommodities, Customer promptly shall pay, upon demand, the deficit and allunpaid liabilities, together with interest thereon and all costs of collectionincluding reasonable attorneys' fees. Customer agrees to pay all expenses,including attorneys' fees, incurred by IA Commodities to collect any debitbalances in Customer's account or to defend any unsuccessful claim Customer maybring against IA Commodities.
14. ROLL OVER INSTRUCTIONS
(a) Liquidating instructions on open positions maturing in acurrent expiry must be given to IA Commodities at least five (5) business daysprior to the first notice day in the case of long positions and, in the case ofshort positions, at least five (5) business days prior to the last trading day.Alternatively, sufficient funds to take delivery or the necessary deliverydocuments must be delivered to IA Commodities within the same periods describedabove. If neither instructions, funds, nor documents are received, IACommodities without notice may either liquidate Customer's position or rolloverat last MOC on behalf of Customer upon such terms and by such methods which IACommodities deems feasible.
(b) If at any time Customer fails to deliver to IA Commoditiesany property previously sold by IA Commodities on Customer's behalf or fails todeliver property, securities or financial instruments in compliance withfutures contracts, or IA Commodities shall deem it necessary (whether by reasonof the requirements of any exchange, clearing house or otherwise) to replaceany securities, futures contracts, financial instruments, or other propertypreviously delivered by IA Commodities for the account of Customer with otherproperty of like or equivalent kind or amount, Customer authorizes IACommodities in its judgment to borrow or to buy any property necessary to makedelivery thereof or to replace any such property previously delivered and todeliver the same to such other party to whom delivery is to be made. IACommodities may repay subsequently any borrowing thereof with propertypurchased or otherwise acquired for the account of Customer. Customer shall payIA Commodities for any cost, loss and damage from the foregoing (includingconsequential damages, penalties and fines) which IA Commodities may berequired to incur or which IA Commodities may sustain from its inability toborrow or buy any such property.
15. CHARGES
Customer agrees to pay such commission and account charges andfees as IA Commodities may establish and change from time to time. Customeragrees to be liable to IA Commodities for interest on amounts due from Customerto IA Commodities at the rates customarily charged by IA Commodities. In theevent Customer's account is having to transactions the whole month, customeragrees to pay monthly account fee of us dollars fifteen per month.
16. STATEMENTS AND CONFIRMATIONS
Customer acknowledges that Customer is bound to the actualexecutions of transactions to either market maker, and understands that allreports of execution, price quotations and other market information are subjectto change and errors as well as delays in reporting. Customer agrees thatreliance upon such information is at his own risk.
Confirmations of trades and any other similar notices, including but notlimited to purchase and sale statements, sent to Customer shall be conclusiveand binding unless Customer notifies IA Commodities to the contrary, (i) wherea report is made orally, at the time delivered to Customer, or (ii) where areport or notice is in writing, prior to the opening of trading on the next dayfollowing delivery of the report on which the relevant Exchange is open forbusiness. Customer's account shall be conclusive and binding unless Customernotifies IA Commodities to the contrary immediately upon delivery to theCustomer. ANY OBJECTION OF CUSTOMER TO A TRADE CONFIRMATION OR SIMILARNOTICE OR A MONTHLY STATEMENT MUST BE MADE IN WRITING AND DIRECTED TO IACOMMODITIES COMPLIANCE DEPARTMENT AT COMPLIANCE@IACOMMODITIES.COM OR VIAFACSIMILE TRANSMITTED TO +924235750805-6-7 , WITHIN THE TIME PERIOD SET FORTHABOVE. THE FAILURE OF CUSTOMER TO PROVIDE SUCH TIMELY WRITTEN OBJECTION IN THEMANNER SPECIFIED SHALL CONSTITUTE RATIFICATION OF ALL ACTIONS TAKEN BY IACOMMODITIES OR ITS AGENTS.
17. COMMUNICATIONS
Reports, statements, notices and any other communications may betransmitted to Customer at the address given in the Account Application, or tosuch other address as Customer may from time to time designate in writing. Allcommunications so sent, whether by mail, fax, air courier, messenger email,internet access, or otherwise, shall be deemed transmitted when deposited inthe United States mail, or when received by a transmitting agent, and deemeddelivered to Customer, whether actually received by Customer or not.
18. COMMUNICATION DELAYS
IA Commodities shall not be held responsible for delays in thetransmission or execution of orders due to a breakdown or failure oftransmission or communication facilities, or for any other cause beyond IACommodities control.
19. CURRENCY FLUCTUATION RISK
If Customer directs IA Commodities to enter into any transactionto be effected in a foreign currency: (a) any profit or loss arising as aresult of a fluctuation in the exchange rate affecting such currency will beentirely for Customer's account and risk; (b) all initial and subsequentdeposits for margin purposes shall be made in Pak Rupees in such amounts as IACommodities in its sole discretion may require; and (c) IA Commodities isauthorized to convert funds in Customer's account into and from such foreigncurrency at an exchange rate determined by IA Commodities in its solediscretion on the basis of the prevailing exchange rates at that particulartime. Transactions on markets in other jurisdictions, including marketsformally linked to a domestic market, may expose you to additional risk. Suchmarkets may be subject to regulation that may offer different or diminishedinvestor protection. Domestic regulatory authorities will be unable to compelthe enforcement of the rules of regulatory authorities or markets in otherjurisdictions.
20. TRADING RECOMMENDATIONS
Customer acknowledges that (a) any market recommendations andinformation communicated to Customer by IA Commodities do not constitute anoffer to sell or the solicitation of an offer to buy any commodity or futurescontract; (b) such recommendations and information, although based uponinformation obtained from sources believed by IA Commodities to be reliable,may be incomplete and may not be verified; and (c) IA Commodities makes norepresentation, warranty or guaranty as to and shall not be responsible for,the accuracy or completeness of any information or trading recommendationfurnished to Customer. Customer understands that IA Commodities officers,directors, affiliates, stockholders, employees, or representatives may have aposition in and may intend to buy or sell commodities or futures contractswhich are the subject of market recommendations furnished to Customer, and thatthe market position of any such officer, director, affiliate, stockholder,employee, or representative may or may not be consistent with therecommendations furnished to Customer by IA Commodities. IA Commodities makesno representation, warranty, or guaranty with respect to tax consequences ofCustomer's transactions.
21. CUSTOMER REPRESENTATIONS
Customer represents that the information contained in theAccount Application is true, correct, and not misleading in any respect, andagrees that he will promptly notify IA Commodities in writing if any of theinformation or representations contained therein materially changes or ceasesto be true and correct in any material respect. Customer further representsthat he is of legal age and sound mind and that, except as disclosed in writingto IA Commodities, no one except Customer has an interest in any account oraccounts carried for Customer by IA Commodities. Customer further representsthat he is not an employee of any exchange, any corporation in which anyexchange owns a majority of the capital stock, any member of any exchange, anyfirm registered on any exchange, any futures commission merchant, anyintroducing broker, or any bank, trust, or insurance company. In the event thatCustomer becomes so employed, he will promptly notify IA Commodities in writingof such employment. Customer further represents that he has full power andauthority to enter into this agreement and to engage in transactions in futurescontracts of the kind contemplated herein and that execution of this agreement,performance of duties hereunder, and the trading of futures contracts bycustomer are not prohibited by any law, rule, regulation, agreement orotherwise.
22. TRADING LIMITATIONS
IA Commodities at anytime in its sole discretion may limit thenumber of positions which Customer may maintain or acquire through IACommodities. Customer agrees not to exceed the position limits established bythe PMEX or any contract market, whether acting alone or with others, and topromptly advise IA Commodities if Customer is required to file any reports onpositions. Moreover Online Trading Platform has the auto built in capability toliquidate the extra open positions in case of worst market move against theclient’s open positions.
23. CONSENT TO CROSS TRANSACTIONS
This consent is being provided in order to comply with exchangerules regarding cross trade procedures and the execution of trades in which afloor broker or brokerage firm may be directly or indirectly involved as aprincipal to a transaction on any exchange that, from time to time, adoptsrules requiring customer consent for these transactions. Customer herebyconsents that IA Commodities,("IA Commodities"), its agents, or floorbrokers handling IA Commodities orders, may, without prior notice, executeCustomer's orders in which IA Commodities, its directors, officers, employees,agents, or the floor broker, may directly or indirectly, become the buyer toCustomer's sell order or the seller to Customer's buy order, provided that suchexecutions are made in accordance with exchange rules and any applicable provisionsof the Commodity Exchange Act or regulations of the Commodity Futures TradingCommission. This consent shall be continuous and remain in effect until revokedin writing by Customer.
24. NO WAIVER OR AMENDMENT
No provision of this agreement may be waived or amended unlessthe waiver or amendment is in writing and signed by an authorized officer of IACommodities. No waiver or amendment of this agreement shall be implied from anycourse of dealing between the parties or from any failure by IA Commodities orits agents to assert its rights under this agreement on any occasion or seriesof occasions. No oral agreements or instructions to the contrary shall berecognized or enforceable.
25. GOVERNING LAW / PARTIAL INVALIDITY
This agreement and its enforcement shall be governed by theinternal laws of the State of Illinois without reference to conflict-of-lawsprinciples. Wherever possible, each provision of this agreement shall beinterpreted in such a manner as to be valid and effective under applicable law,but if any provision of this agreement shall be prohibited by or invalid undersuch law, such provision shall be ineffective to the extent of such prohibitionor invalidity, without invalidating the remainder of such provision or theremaining provisions of this agreement.
26. BINDING EFFECT
This agreement shall be continuous and shall cover, individuallyand collectively, all accounts of Customer at any time opened or reopened with IACommodities, irrespective of any change or changes at any time in the personnelof IA Commodities or its successors, assigns, or affiliates, for any causewhatsoever; shall inure to the benefit of IA Commodities and its successors andassigns, whether by merger, consolidation or otherwise; and shall be bindingupon Customer and the estate, executors, administrators, legal representatives,successors and assigns of Customer. Customer hereby ratifies all transactionswith IA Commodities effected prior to the date of this agreement, and agreesthat the rights and obligations of Customer in respect thereto shall begoverned by the terms of this agreement, which supersedes all other customeragreements between IA Commodities and Customer.
27. TERMINATION
This agreement shall continue in effect until terminated and maybe terminated by Customer at any time when Customer has no positions and noliabilities held by or owed to IA Commodities or at any time whatsoever by IACommodities; provided, however, that any such termination shall not affect anytransactions theretofore entered into and shall not relieve either party of anyobligations in connection with any debit or credit balance or other liabilityor obligation incurred prior to such termination.
28. INDEMNIFICATION
Customer agrees to indemnify IA Commodities and hold IACommodities harmless from and against any and all liabilities, losses, damages,costs and expenses, including attorneys' fees, incurred by IA Commoditiesbecause any of the Customer's representations and warranties shall not be trueand correct or the agreements made herein by Customer shall not be fully andtimely performed. Customer also agrees to pay promptly to IA Commodities alldamages, costs and expenses, including attorneys' fees, incurred by IACommodities in the enforcement of any of the provisions of this agreement.
29. RECORDING
(a) Customer understands that IA Commodities in its solediscretion may record, on tape or otherwise, any telephone conversation betweenIA Commodities and Customer. Customer hereby agrees and consents to suchrecording and waives any right Customer may have to object to the admissibilityinto evidence of such recording in any legal proceeding between Customer and IACommodities or in any other proceeding to which IA Commodities is a party or inwhich IA Commodities records are subpoenaed.
(b) Absent a separate written agreement with Customer or anadvisor duly authorized to act on Customer's behalf, IA Commodities in its solediscretion may, but shall not be obligated to, accept futures contracts fromother brokers executed by such brokers for clearance and maintenance inCustomer's account. If IA Commodities and Customer enter into a separategive-up agreement, this agreement will control in the event of any conflictbetween such agreements.
30. TERMS AND HEADINGS
The term "IA Commodities" shall be deemed to include IACommodities, and its agents, successors and assigns; the term"Customer" shall be deemed to refer to the party or parties executingthis agreement. All pronouns shall be deemed to refer to the feminine or themasculine, as the gender of Customer requires. If this is a joint account, thesingular shall mean, where appropriate, all owners of an account and thestatements, agreements, representations and warranties set forth herein shallbe deemed to have been made by each owner of the account. The paragraphheadings in this agreement are inserted for convenience of reference only andare not intended to limit the applicability or affect the meaning of any of itsprovisions.
31. JOINT ACCOUNT PROVISIONS
(a) If this account is held by more than one (1) person, all ofthe joint holders are jointly and severally liable to Broker for any and allobligations arising out of transactions in the account and agree to be bound byall terms and conditions of the Customer Agreement signed by each party. Brokeris authorized to accept instructions and to send confirmations to any one ofthe joint owners, and the Customer hereby further appoints any and all of saidjoint owners as Customer's agent for receipt of confirmations and hereby waivesany right to receive confirmations otherwise. Any one or more of the jointowners shall have full authority for the account and risk in the name of thejoint account.
(b) If this account is a joint account, in the event of thedeath of any of the Customers, the survivor(s) shall immediately give IACommodities written notice thereof, and IA Commodities, before or afterreceiving such notice, may take such action, institute such proceedings, requiresuch papers, retain such portion of the account, and restrict transactions inthe account as IA Commodities may deem advisable to protect IA Commoditiesagainst any tax, liability, penalty, or loss under any present or future lawsor otherwise. The estate(s) of any of the Customers who shall have died shallbe liable, and the survivor(s) shall continue to be liable, to IA Commoditiesfor any debit balance or loss in the account in any way resulting from thecompletion of transactions initiated prior to the receipt by IA Commodities ofthe written notice of the death of the decedent, or incurred in the liquidationof the account, or the adjustment of the interests of the respective parties.
(c) If this account is held by tenants in common, then, in theevent that the account is closed or upon receipt of a certified documentevidencing death or legal incapacity of any tenant, the account shall bedivided in equal shares unless Broker is otherwise notified, in writing, signedby all joint owners of the amounts to be distributed to the individual jointowners.
(d) If this account is held by the parties as joint tenants withrights of survivorship, then, upon receipt of a certified document evidencingdeath or legal incapacity of one of the parties, the remaining party or partiesshall continue this account in their name as sole or joint owners with all theterms and conditions of said account continuing in full force and effect.
32. PARTNERSHIP PROVISION
Where Customer is a partnership, the event of the dissolution orthe termination of the Customer or the dissolution, termination or withdrawalof a general partner of the Customer by death, retirement, or for any otherreason, the remaining partners immediately shall give IA Commodities writtennotice thereof and IA Commodities may, before or after receiving such notice,close the account(s) of Customer and proceed in accordance with paragraph 5above and take such action, institute such proceeding, require such papers,retain such portion of the account(s) or restrict transaction in the account(s)as IA Commodities may deem advisable to protect IA Commodities against anyliability, tax, or penalty under any present or future laws or otherwise. The estateof any of the general partners who shall have died shall be liable, and eachsurvivor shall continue to be liable to IA Commodities for any debit balance orloss in said account(s) resulting from the completion of transactions initiatedprior to receipt by IA Commodities of such written notice or incurred in theliquidation of the account(s) or the adjustment of the interests of therespective parties.
33. JURISDICTION, VENUE, WAIVER OF JURY TRIAL AND SHORTENING OFLIMITATIONS PERIOD
Customer agrees that any civil action, arbitration or otherlegal proceeding between IA Commodities or its employees or associated persons,on one hand, and Customer, on the other hand, arising out of or relating tothis agreement on Customer's account shall be brought, heard and resolved onlyby the Head office located in Lahore, Pakistan and Customer hereby waives theright to have such proceeding transferred to any other location. In addition,Customer hereby waives trial by jury in any such action or proceeding. Noaction, regardless of form, arising out of or relating to thisagreement or transactions hereunder may be brought by Customer more than twomonths after the cause of action arose. Customer hereby submits and consents topersonal jurisdiction in any court in Lahore and appoints and designates IACommodities (or any other party whom IA Commodities may from time to timehereinafter designate) as Customer's true and lawful attorney-in-fact and dulyauthorized agent for service of legal process, and agrees that service of suchprocess upon IA Commodities or such other party shall constitute personalservice of such process upon Customer; provided, that IA Commodities or suchother party shall, within five days after receipt of any such process, forward thesame by air courier or by certified or registered mail, together with allpapers affixed thereto, to Customer at Customer's last known mailing address.
34. RISK ACKNOWLEDGEMENT
i) Customer acknowledges that investment in Futures Trading isspeculative, involved a high degree of risk due to high leverage provided andother volatility reason due to high volume and is suitable only for persons whocan assume risk of loss in excess of their margin deposits. Customerunderstands that because of the low margin normally required in futurestrading, price changes in futures contracts may result in significant losses,which losses may substantially exceed Customer's margin deposits. Customerrepresents that Customer is willing and able, financially and otherwise, toassume the risks of futures trading, and in consideration of IA Commoditiescarrying Customer's account(s), Customer agrees not to hold IA Commoditiesresponsible for losses incurred through following its trading recommendationsor suggestions or those of its employees, agents or representatives. Customerrecognizes that guarantees of profit or freedom from loss are impossible ofperformance in futures trading, acknowledges that Customer has received no suchguarantees from IA Commodities or from any of its representatives, and has notentered into this agreement in consideration of or in reliance upon any suchguarantees or similar representations.
ii) Mark to market settlement resulting in losses: Lossesincurred at the end of trading day will be first deducted from the respectivefunds available with the exchange in the form of margin deposits, aftercovering up the minimum margin required at the end of the trading day. If thebalance available to the credit of the account holder(s) is not adequate tocover the loss incurred by the broker or account holder(s) a variation margincall will be generated to cover the amount of loss. Variation margin callamount will be collected from each account holder(s). The account holder(s)will be required to pay to the exchange 100% of the amount of variation margincall in cash. Variation margin calls (Losses) at the end of each day will bepaid to the clearing house latest by the exchange determined cutoff time on thesame trading day.
35. Anti-Money Laundering
Important Information About Procedures for Opening a NewAccount: To help the government fight the funding of terrorism and moneylaundering activities, Federal law requires all financial institutions toobtain, verify, and record information that identifies each person who opens anaccount. What this means for you: When you open an account, we will ask foryour name, address, date of birth and other information that will allow us toidentify you. We may also ask to see your driver's license or other identifyingdocuments.
36. ACCEPTANCE. This agreement shall not be deemed to be accepted by IACommodities or become a binding contract between Customer and IA Commoditiesuntil approved by IA Commodities new accounts department.
