1. Overview
To use the Tiger Vault and Auto-Sweep services, the Client (hereinafter referred to as "you") acknowledged that you have read this Tiger Vault and Auto-Sweep Service Agreement (hereinafter referred to as the, this “Agreement") between you and Tiger Brokers (NZ) Limited (hereinafter referred to as "Tiger Brokers"), and this Agreement shall govern your relationship with Tiger Brokers under the Auto-Sweep services, and Tiger Brokers shall provide you with Tiger vault and Auto-Sweep services pursuant to this Agreement.
You acknowledge that Tiger Brokers may from time to time modify this Agreement and a notice thereof will be sent by email or Tiger Trade APP or after you log in, and that your continued use of Tiger Vault and Auto-Sweep services after such modification will be deemed to have accepted the modified Agreement. You shall not be entitled to use Tiger Vault and Auto-Sweep services unless you accept all of the terms of this Agreement.
Please read the Tiger Brokers’ Client Service Agreements in conjunction with this Agreement.
If you click "Confirm" or otherwise elect to accept this Agreement, you shall be deemed to have understood and accepted this Agreement.
2. Definitions
2.1 You: means the Client who applies for the Tiger Vault and Auto-Sweep services and the use of Tiger Vault and Auto-Sweep services.
2.2 Auto-Sweep: shall have the meaning thereto in Clause 5.
2.3 Auto Redemption: shall have the meaning thereto in Clause 6.
2.4 T : shall mean the day of your transaction whether it is a subscription in or redemption, taking into consideration Singapore gazette holidays.
2.5 T + n : shall mean the nth business Day (excluding T) from T.
2.6 T – n: shall mean the nth business day (excluding T) before T.
2.7 Available Cash: refer to free cash balances in your account (consolidated from security segment and fund segment).
2.8 Funds: shall have the same meaning ascribed in the Fund Mall Service Agreement
2.9 Transaction(s): shall have the same meaning ascribed in the Fund Mall Service Agreement
2.10 Tiger Vault: means Tiger Brokers’ Cash Management Solution that provides Customers yield on their idle funds. Funds subscribed through Tiger Vault can be used as collaterals/purchasing power to invest in stocks, options, funds and participate in IPO on Tiger Brokers when client enrolled with Auto-Sweep services.
3. Enrolling Auto-Sweep Services
3.1 Qualifications
You shall be an investor who complies with the requirements of applicable laws and regulations relating to the transactions hereunder:
3.1.1 Natural Person: has reached the age of 18; has full capacity for civil rights and capacity for civil conduct; has sufficient knowledge and experience to understand the nature of and risks of the product to be traded.
3.1.2 Corporate Organization: full qualified of being the subject of legal person, and has full capacity for civil rights and civil liability; the proposed account holder is the legal representative or has legal and valid authorization or permit of the legal person; and has sufficient knowledge and experience to understand the nature and risks of the product to be traded.
3.2 Account opening and Enrolling Auto-Sweep Services
3.2.1 You agree that for the purpose of Agreement, all transactions shall be credited into or debited from your existing Securities account opened and maintained with Tiger Brokers. If you do not have an existing account with Tiger Brokers will be required to open a Securities account before entering into any transactions under this Agreement. The reference to “Account” in this Agreement shall refer to any such existing securities account or new securities account to be opened.
3.2.2 The Account shall be governed by Tiger Broker’s prevailing Client Service Agreements. In the event of any inconsistency between the Client Service Agreements and this Agreement, this Agreement shall prevail to the extent of such inconsistency.
3.2.3 It is assumed that all instructions received for your account through the trading platform “Tiger Trade” are instructions given by you to Tiger Brokers, and therefore Tiger Brokers shall not be liable for any legal consequences arising from the execution of such instructions. Such instructions include the Auto-Sweep instructions and all subsequent transactions performed through the Auto-Sweep function.
3.2.4 When you turn on or suspend the Auto-Sweep function, you will receive a prompt from the system for authentication purposes and other validation actions, and Tiger Brokers will process your transaction based on successful validation of the results.
4. Multi-currency function within Auto-Sweep
You agree that Tiger Brokers defines Auto-Sweep services based on the following currency: USD, SGD and HKD.
5. Auto-Sweep
5.1 If you, at any time enrols and opts in for the Auto-Sweep facility offered by Tiger Brokers, you shall be subject to the terms and conditions under Clause 5 and/or any other terms and conditions as may be imposed by Tiger Brokers.
5.2 You agree and acknowledge that the Auto-Sweep facility authorize Tiger Brokers to invest your available cash in your pre-selected funds. Your account will be evaluated on each business day between 5am to 6am Singapore/ time and Auto-Sweep will incur if your available cash is in surplus.
5.3 If you, at any time, perform manual redemption on your Auto-Sweep fund(s), Auto-Sweep will temporarily suspend for 3 business days. Auto-Sweep will resume automatically after the 3rd business day.
6. Auto-Redemption
6.1 You agree and acknowledge that Tiger Brokers will automatically redeem funds subscribed through Tiger Vault for you when available cash in your account is in deficit. Your account will be evaluated on each business day between 5am to 6am Singapore time and Auto-Redemption will incur if your available cash is less than 0.
6.2 You acknowledge that Auto-Redemption function cannot be terminated after you have turned on the Auto-Sweep function and Auto-Redemption will continue regardless the status of Auto-Sweep.
7. Risk warning
As with any form of investment, there could be a partial loss of your principal amount. The historical data of any investment does not guarantee its future performance and return. In addition, there are special trading risks outside normal trading hours, including low liquidity risk, high volatility risk, price change risk, unconnected markets, news announcements and larger spreads. You fully comprehend and are aware of the risks associated with this investment, and before enrolling with Auto-Sweep services, and made an objective judgment on your financial status, investment objective and investment amount.
You recognized and accept the risk of the transaction with Auto-Sweep services.
8. Non-provision of Advice on Investment, Taxation or Transaction
Tiger Brokers and any of its representatives does not, have not and will not be providing any product advice, solicitation or otherwise.
9. Default Events
9.1 "Default" occurs automatically, without notice upon: (i) your breach/repudiation of any agreement with Tiger Brokers; (ii) your failure to provide assurance satisfactory to Tiger Brokers of performance of an obligation, after request from Tiger Brokers; (iii) proceedings by/against you under any bankruptcy, insolvency, or similar law; (iv) assignment for the benefit of your creditors; (v) appointment of a receiver, trustee, liquidator or similar officer for you or your property; (vi) your representations being found to be untrue or misleading when made or later becoming untrue; (vii) you are legal incompetence; (viii) proceeding to suspend your business or license by any regulator or organization; (ix) Tiger Brokers having reason to believe that any of the foregoing is likely to occur imminently.
9.2 You unconditionally agree that, upon a Default, Tiger Brokers may terminate any or all its's obligations to you and shall have the right in its discretion, but not the obligation, without prior notice, to freeze all or any part of your funds, at any time and any manner. You shall reimburse and hold Tiger Brokers harmless for all actions, omissions, costs, fees (including, but not limited to, attorney's fees), or liabilities associated with any Default or any transaction undertaken by Tiger Brokers upon Default.
10. Suspicious Acts
If Tiger Brokers at its sole discretion believes that you have been involved in any fraud or crime or violation of laws or regulations, or has been accessed unlawfully, or is otherwise involved in any suspicious activity (whether victim or perpetrator or otherwise), it may suspend or freeze the account or any privileges of the account, may freeze or liquidate funds or assets, or may utilize any of the remedies in this Agreement for a "Default".
11. Disclaimer
11.1 Tiger Brokers has no obligation of investigating the truthfulness of the identity of the registered mobile phone number’s owner and will not take any responsibility for any loss arising from registering an account on Tiger Brokers’ platform with stolen, fraudulently used or misuse of individual mobile phone number.
11.2 All Clients registering and opening an account at Tiger Brokers should obey the relevant laws and regulations and the rules for using Tiger Brokers’ platform and should not release politics-related harmful information, pornographic contents, false advertisement, bloodiness and violence, insulting or slandering comments, disclosure of individual privacy and any other information against the laws and regulations, nor should they engage in activities which infringe a third party’s intellectual property right and other legal rights and interests. Otherwise, you shall bear all the losses arising therefrom and indemnify Tiger Brokers for any losses. Tiger Brokers reserves the right to demand compensation for all direct and indirect losses as a result of your actions causing damage to Tiger Brokers.
11.3 Under any circumstances, Tiger Brokers is not liable for any punitive, indirect, occasional, special or associated loss or damage, including but not limited to indirect personal damage, loss of business profit, interruption in trade, loss of business information or loss of any other financial interests.
11.4 Since investment in securities or financial products has risk of loss, Tiger Brokers will not be responsible for the profit and loss and risk related to your investment.
11.5 Tiger Brokers and its affiliates cannot guarantee the absolute reliability and accuracy of such information they provide as market quotation, diagram and comment, and Tiger Brokers and its affiliates shall not be liable for the loss arising from the inaccuracy or omission of any contents of the market.
11.6 Tiger Brokers shall not be liable for interruption, pause, delay or data fault of trading instructions which might occur due to malfunction, break-off, delay or other factors of Internet data transmission.
11.7 Tiger Brokers shall not be liable if your trading account and password are let out or its identity is counterfeited due to its neglect.
11.8 As there is possibility of malicious hacks on the Internet and the web server may have malfunction and other unpredictable factors, the market information and other securities-related information may be faulted or delayed, Tiger Brokers shall not be liable for these situations.
11.9 Your NTE and software system may suffer from illegal attack or virus infection, leading to failure of order for commission or commission failure, Tiger Brokers shall not be liable for these situations.
11.10 Your NTE and software system are incompatible with Tiger Brokers’ online transaction system, causing failure of order for commission or commission failure. In this case, you may dial Tiger Brokers’ telephone to report such circumstance and acquire technical support but not Tiger Brokers’ economic compensation.
11.11 Tiger Brokers shall not be liable for failure of commission or commission fault is caused by your improper operation.
11.12 Tiger Brokers shall not be liable for the loss arising from any circumstances where your account and password, personal information, or trading information are let out or its identity is counterfeited due to its personal reasons.
11.13 Tiger Brokers shall not be liable for your uses of the service provided by Tiger Brokers to conduct any illegal activity or any act infringing other’s rights and interests, thus causing loss to you and a third party.
11.14 Due to network failure, when operating on Tiger Brokers’ platform, your NTE shows that its commission succeeded while Tiger Brokers’ transaction server does not receive your commission instruction, which leads to the risk of your failing to transfer-in or transfer-out funds; since your NTE shows that its commission does not succeed, you send another commission order, which results in Tiger Brokers’ transaction server receiving two commission instructions, thus your risk of making repeated transactions arises, Tiger Brokers shall not be liable for these situations.
11.15 Tiger Brokers shall not be liable for the emergency caused by the major change of law and policy or the factors unpredicted and uncontrolled by Tiger Brokers.
11.16 Tiger Brokers shall not be liable if the functions of Tiger Brokers’ platform fail due to force majeure such as war, communication fault, natural disaster, strike and the actions taken by the government department, leading to your economic loss.
11.17 Tiger Brokers’ designated website and products will publish or transport such contents as news and information provided by its cooperating corporation, with the information provider being noted. Tiger Brokers does not carry out substantive censor or revision of the contents provided by its cooperating corporation and does not guarantee the authenticity thereof, which should be judged by you and for which Tiger Brokers is not responsible.
12. Miscellaneous
12.1 This Agreement is governed by New Zealand Law and the terms hereof in confliction with the law provisions will be void. High Court of New Zealand has the exclusive right of jurisdiction over the dispute related to this Agreement, except regulated by arbitration rules. In the resolutions to all judicial acts, arbitrations or disputes, the parties hereto waive any right of being indemnified against damage.
12.2 Dispute Resolution: upon agreed by both parties in consensus, the dispute arising from your use of the trading services on Tiger Brokers’ platform should be solved through negotiation in priority.
12.3 Tiger Brokers may terminate this Agreement or terminate providing services to you at any time.
12.4 You authorize Tiger Brokers directly or through a third party to inquire you about the information required as held by Tiger Brokers for carrying out business activities with you. The inquiry may include credit report and other credit examination requested when you breach this Agreement or break the obligation hereunder or verification of the information provided by you to the third-party database.
12.5 Tiger Brokers enjoys the right of interpreting and modifying this Agreement. In case of any terms hereof being fully or partially ineffective or unenforceable due to whatever reason, the other terms hereof shall remain valid and binding.