AGREEMENT

This is an Agreement dated:____________________________,199_______, by and between

 

_______________________________________________________________
"the Client"

and

UNITED OFFSHORE SERVICES, LTD., Limited
5 King Street, PO Box 1759
Belize City, Belize, C.A.,
"the Service Company"
 

Wherein it is Agreed:

That the Client has caused to have an International Business Company formed and has paid the fee of one thousand five hundred United States dollars ($1,500).

The Client wishes to retain the Service Company for certain services attendant to opening and operating a FOREX currency trading account (the Account).

The Account will be held in United States dollars and the Broker/Trader is to be given the authority to operate the account with a maximum risk factor as described in the Traders documents at 30% of the capital in the Account.

The Account will be opened with a minimum of one thousand, five hundred United States dollars ($1,500) which the Service Company agrees to advance the Client under conditions as follows:

The Service Company will receive from the Client the Power and Instructions to operate the Account until such time as the profits on the account are sufficient to reimburse the Service Company for the said amount advanced, without interest or other charges whatever.

To secure payment and reimbursement, the Client agrees that the Service Company shall hold the shares of the company until such time as the money that has been advanced has been recovered by the Client, at which time the shares will be delivered to whom and to where the Client instructs.

The Service Company will arrange for the Broker/Trader company, though their bank, to arrange for a line of credit or margin account equal to no more than one hundred (100) times the capital amount in the Account. The terms and conditions of that line of credit are the subject of and included in the agreement with the Broker/Trader.

The Service Company will instruct the Broker/Trader on any wishes put to him, the Service Company, in writing by the Client as relates to the degree of risk, the currency to be traded in, withdrawals, distributions or closing of the account.

The Client may make additional contributions to the account whenever he desires. Except for the initial amount required to open the account, all funds will go directly from the Client to the Broker/Trader. The Service Company, without any charges except for actual expenses, will forward any funds to the Broker/Trader which the Client might prefer of find convenient for adding to the account.

The Broker/Trader company will be provided with the authority to operate the account in accord with the rules and procedures outlined in the material which the Client has reviewed.

The Client agrees that so long as the account is active, the Broker/Trader will report to the Service Company as to the status of the Account.

The Service Company agrees to notify the Client in a prompt manner details of the account shortly after such reports are received.

It is agreed that the fee to be earned by the Service Company for providing the services called for under this Agreement shall be equal to thirty percent (30%) of the total earnings as reported by the Broker/Trader company to the Service Company.

The Service Company agrees that the services rendered herein shall be compensated for out of earnings and will not receive any funds out of capital.

The Service Company agrees that all transactions for and service rendered to the Client are to be held in strict confidence as the Laws of Belize provide, relating to International Business Companies. No information will be provided any third party until and unless the Client has specifically instructed the Service Company to provide same.

The Client acknowledges that the services provided by the Service Company are provided for economy of operation, confidentiality and to minimize administrative activity of the international Business Company.

Further, it is understood by both parties, that the monetary transactions are a matter between the Broker/Trader and the International Business Company named herein and that is the responsibility of the Service Company to provide such services as to provide for the efficient operation of the Offshore Business Company.

The Client acknowledges that he is aware that the Service Company will pay to the party who recommended the Client to the Service Company a fee of Five Hundred United States dollars ($500), such amount to be paid out of the earnings of the Service Company and not out of the earnings of the Client. As well, the Client acknowledges that he is aware that the party earning the said five hundred dollars will receive on a continuing basis an amount equal to 1/3 of the fee earned by the Service Company, such amount to be paid out of the fees received by the Service Company an not the earnings of the Client.

The Service Company agrees that The Client will receive for each party referred to the Service Company who becomes a client the same fee and distribution of the Service Company’s fees as indicated above for others who refer clients. These fees will be added to the Account and duly reported at the time they are paid into the Client’s Account.

It is understood and agreed that no fees will be paid by the Service Company until and unless the earnings on the Account have been and are such as to allow the Service Company to recover the advanced sum of Fifteen Hundred United States dollars ($1,500) or whatever actual amount has been advanced.

The Client acknowledges and agrees that the Service Company will not report any transactions to any governmental agency anywhere. The services provided to the Client do not include tax return preparation, tax reports, legal services or legal opinions or auditing reports. The Client agrees that the Service Company is not contracted to provide such services and has not offered nor has the Service Company rendered such services.

The Client acknowledges that he/she is a knowledgeable investor capable of making decisions related to their personal or corporate finances; that they understand the risks of leveraging and the risks in foreign exchange trading; that they know it is not realistic to look at the past as any sort of guarantee as to what will happen in the future in foreign currency trading.

The Client confirms that he/she has been given the Name of the Broker/Trader, the phone number of same, the representative of same and background material provided by the same.. The Client knows he can call at any time to talk to the Trader about the general market conditions but accepts that for detailed information about his account, he must talk to the Service Company. The Client understands that there are limits to the amount of time the Trader can personally give to the client whose account is below the minimum starting balance. Therefore, the Client understands the need to allow the Service Company to serve as the principal contact with the Trader.

The Client understands that if he prefers to have an account with a minimum opening balance as required by the Trader, he may access the Trader directly and receive daily activity reports on his account. At the time of this agreement, the minimum opening balance as put forth by the Broker/Trader is Thirty-five Thousand States dollars (US$35,000).

This Agreement shall be subject to the Laws of the Country where the International Business Company in question has been established.

AGREED:

__________________________________________________________

 

For the Client: (Company)________________________________________

 

Witness:_________________________________________________________

 

Address:_________________________________________________________

 

_________________________________________________________________

 

___________________________________________________________________
United Offshore Services, Ltd., the Service Company
Company Seal

 

 

 

Date Seals applied:______/______/______

 

Copyright © United Offshore Services, Ltd. 1997. All rights reserved.
 
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