Citisec Agreement - CitisecOnline.com, Inc. S T O C K B R O...

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This formalizes and confirms my/our application to open an Online Securities Trading Account (“OSTA”) with CITISECONLINE.COM, INC. (“COL”) in order to buy and/or sell stocks in the Philippine Stock Exchange (“PSE”) via the internet and the electronic facility services of COL subject to the prevailing rules of the PSE, the regulations of the Securities and Exchange Commission (“SEC”) and other government agencies, and I/we hereby agree to be bound by the following terms and conditions: 1. ONLINE BROKERAGE SERVICE COL, an SEC licensed broker in securities providing clients with online brokerage services, shall act as my/our broker for the sale and/ or purchase of securities listed in the PSE. 2. COL AS ATTORNEY-IN-FACT For the purpose of selling, buying, or performing other acts stated herein, I/we hereby irrevocably appoint and constitute COL, its officers, employees, or successors-in-interest and/or assigns, as my/our true and lawful attorney-in-fact with full power and authority to execute my/our buy or sell orders, lend or borrow securities, execute bills of sale, receipts, assignments of all my/our rights, title and interests to the purchaser/s thereof, and to deliver or accept delivery of the corresponding stock certificates, and to do all other acts which COL may do or cause to be done in accordance with the powers herein conferred, all of which are hereby deemed ratified by me/us in all respects for this purpose. COL shall be entitled to rely on any instruments, notices and communications which COL believes to have originated from me/us and I/we shall be bound thereby. 3. ONLINE SECURITIES TRADING ACCOUNT (OSTA) I/We shall open and maintain an online securities trading account (“OSTA”) with COL which will enable me/us to personally execute my/our buying and selling of stocks listed in the PSE subject to the terms and conditions and limitations provided in this Agreement. I/We agree to place a minimum deposit of PhP25,000.00 for regular account or PhP5,000.00 for an EIP account. 4. TRADING FEES In consideration of the foregoing, I/we hereby agree to pay COL the following: 4.1 Commission at the rate of 1/4 of 1% of the amount purchased or sold via the internet. For buy or sell orders executed through a broker over the phone, the commission rate shall be 1/2 of 1%. In no case, however, shall the commission be less than the amount of PhP20.00 per executed order. I/We acknowledge that the commission rate is set solely by COL and I/we agree that COL may change the commission structure at any time upon reasonable notice given; 4.2 Transfer or settlement fees; 4.3 Depository or custodianship fees; 4.4 Transaction fees; 4.5 Documentary stamps tax and stock transaction tax; 4.6 VAT on commission, and other levies and duties thereon.
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This note was uploaded on 10/02/2011 for the course ECONOMICS 101 taught by Professor Galang during the Spring '11 term at East Los Angeles College.

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Citisec Agreement - CitisecOnline.com, Inc. S T O C K B R O...

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