Date: ___________________________
I, ______________________________________________________________, have had a company formed by United Offshore Services, Ltd., and arranged a loan to enter into the FOREX Market, and wish to earn fees when presenting new clients to FOREX Program.
I understand that the company, United Offshore Services, Ltd., will pay to my company a fee of $500 for each new prospect who becomes a client. The company will pay my company $250 for each new client who has a trust established. The fees will be paid out of funds collected in repayment of the loan out of earnings of the FOREX account established for the new client’s company. Further, I will be paid an amount equal to 1/3 of the gross amount United Offshore Services, Ltd., earn as the manager of the client company’s account. This, too, will be paid once the initial loan amount has been paid. Each year upon renewal of the client companies, I will be paid $75 for each client company I brought to the Program and $50 for each client brought to the program who had a trust established.
United Offshore Services, Ltd., will pay my company the amounts due by the 15th day of each month and such payments will be shown on my on company’s account as having been added to the FOREX account of my company. No taxes will be withheld and no reports will be made to anyone but to me or to whom I designate, to my Company or to the Trustee of the Trust of which I am a beneficiary, if my company is owned by a trust.
I understand that I am to use only the material received from United Offshore Services, Ltd., and that I am to make no promises of earnings and not provide any projections of earning to prospective clients. I further understand that while the FOREX program is not a security, there are rules. All funds will go to the trader’s bank directly and must be sent by the principal. I am not to accept funds for the trader or for United Offshore Services, Ltd.
I am not an employee or agent for the trader or United Offshore Services, Ltd., and cannot sign on behalf of either. I am an independent contractor, properly licensed or otherwise permitted in my home jurisdiction to present the program to prospects.
I have read and understand the Disclaimer of United Offshore Services, Ltd., which is as follows: Everyone of us is responsible for his own decisions. We are not tax advisors, nor do we hold ourselves out as Investment Advisors, Financial Planners or Estate Planners. We provide offshore services and we risk our own money. We can tell you what others do. Potential clients and clients should look to their own experience, the assistance of professionals in law, tax reporting and investing for advice and guidance in those fields. We do not have employees who offer our services other than those who are on the staff in our offices. Anyone who represents themselves as our employees or as agents empowered to act for us are misstating the facts. We make no promises. We do not handle your funds. We act only on the orders of the companies or individuals, authorized managers or trustees who retain us to provide administrative services. We do not take deposits and are in no way in a position to act upon a demand for funds in any account or accounts of the companies or the trusts for which we provide administrative services.
The companies formed by us or upon our instruction or on our behalf and referred to as Offshore Companies or International Business Companies do not pay taxes. What you do about reporting income in your home jurisdiction is a matter entirely up to you. The companies and trustees are not required by law in the jurisdictions where they are formed to report to anyone or any agency. Confidentiality of the affairs of the companies and trusts is afforded by law.
Unless I am properly prepared and have credentials as a Tax Specialist, Investment Advisor, Financial Planner, Licensed Insurance Broker/Salesperson or Professional Estate Planner, I will not represent myself as either. The FOREX Program is available only for those with Cash and account must be settled each day. Funds may be requested from the Trader at any time once the loan has been paid. The leverage arranged by the trader with the bank is in the name of my Company and I am not personally liable. I have accepted 30% risk on my capital account and will make it clear to clients that that is a real risk. The leverage is necessary to allow for smaller amounts to trade profitably in the FOREX market and have authorized the arrangement of the leverage.
By signing this Memorandum of Understanding, I accept the rules United Offshore Services, Ltd., has outlined with the trader and will abide by those rules as the exist and might be amended in the future.
Signed:______________________________________
Company: _______________________________________