This website is owned and operated by Budrigan Ltd.
Budrigan Ltd, hereinafter referred to as the Company registered at Suite 305, Griffith Corporate Center, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines, offers trust management services in the Forex market, CFDs of stocks, indices and metals, to any natural or legal person (hereinafter referred to as the Client), as defined in this Agreement (Offer). English shall be the main language of the offer among the other language options on the website.
The offer shall come into force from the moment of the Client account registration and transfer of moneys to the account/ accounts of the Company for trust management.
1. Method of Settlement
1.1. The client shall replenish the trading account within 30 calendar days from the date of the account registration. The amount of replenishment shall not be less than the one determined by the terms of investment.
1.2. The company shall have the right to delete the account if, within 30 days, the Client has not made a deposit replenishment.
1.3. The client shall have the right to withdraw from his/her trading account an amount that is not used to cover the margin requirement of the open trading positions.
1.4. The client shall apply for money withdrawal in electronic form (to be sent using the interface of the Company’s website). All applications for withdrawal must be confirmed by a unique check code which is sent only to the Client’s registered e-mail address. The Company shall not be not responsible for the access of third parties to the Client’s e-mail address, and to the applications executed in connection with this. Upon receipt of an application from the Client, the withdrawn amount is deducted from the balance of the trading account or safe deposit box of the Client. Payments on executed applications are not subject to appeal or return.
1.5. Money is transferred within five banking days after receiving an application from the Client, if there are no open trading positions. In the event that there are open trading positions at the time of application, the Company shall have the right to hold the application for up to 30 business days to close trading positions at a better price than they were at the time of the Client’s application for withdrawal, having previously notified the Client.
1.6. The client shall receive the Company’s banking details for the transfer in order to replenish the trade balance via the company’s website or shall apply for replenishment in electronic (to be sent using the interface of the Company’s website) or written form.
1.7. When replenishing his/her account, the Client shall use the Company’s current banking details received on the Company’s website only and effective on the payment date. Current banking details mean details received within 24 (twenty-four) hours prior to payment. The Company cannot be held responsible for the moneys which the Client transfers to accounts and using banking details different from current, and does not offer search and refund of Client’s payment and cannot credit these moneys to the Client’s trading balance. Trading deposit replenishment orders may be issued, and current banking details may be received in the appropriate section of the trader’s account on the payment day.
1.8. Deposit/withdrawal costs shall be payable by the Client.
1.9. The company shall have the right to reject an application for withdrawal of moneys in the event of discrepancy between the payment systems of depositing and withdrawing, and process only the request to withdraw moneys to that payment system, from which deposit was done. Herewith profit from trust management can be withdrawn to the payment systems (on the Client’s request) that were not initially used when replenishing the account, but only after the total amount of moneys will be withdrawn from the account. The payment system may be changed by prior agreement between the Company and the Client.
1.10. When the trading account balance is replenished using direct bank transfer (Bank Transfer), credit of moneys shall be made upon their arrival in the Company’s account. The Client who replenishes the account using direct bank transfer shall have the right to order the funds withdrawal only to the account from which the payment was made. When transferring moneys, commission is charged (for international bank transfer).
1.11. If the withdrawal of funds from the trading account or safe deposit box provisionally replenished using a payment card, is made earlier than 30 days after the account was replenished, the company’s security department shall be entitled to request a color scan of both sides of the payment card with the holder’s signature (only the first 6 and the last 4 digits of its number, as well as its expiry date, name and surname of the holder must be visible, whereas CCV number should be hidden) and the cardholder’s passport for verification. The withdrawal of moneys to the same payment card or payment system is possible by prior agreement between the Company and the Client.
1.12. The Company shall reserve the right to reject a request for withdrawal in case of an explicit intention to exchange customer moneys from one payment system to another.
1.13. Replenishing the account balance using credit cards of third parties is prohibited.
1.14. The company shall have the right to accept for processing the application for withdrawal only by international bank wire transfer to the personal bank account of the Client if total profit is equivalent to more than 10000 USD.
1.15. The Client shall confirm that he/she has read the terms and conditions of the service.
1.16. The Client shall confirm that he/she is familiar with the legislation of the country of which he/she is a resident on the payment for goods and services on the Internet using payment cards.
2. Client and Company Liabilities
2.1. The Company shall not be liable for non-fulfillment of any obligations involving the quality of information passing via the Internet to the Client’s terminal or in relation to the use of information, software, as well as interfaces of websites which do not belong to the Company.
2.2. The Client shall be aware that:
• a) any payments which the Client makes using the banking details received earlier than 24 hours prior to the payment time or not in the appropriate sections of the Company’s website which differ from the company’s current banking details do not entail the Company’s liability or obligations concerning the search, refund or credit of this payment to the Client’s trading balance.
• b) any actions committed by the Client or third parties (through the Client’s fault or with the Client’s participation), which destabilize the business of the Company, its services, equipment, or software may result in the Company’s denial (on the basis of private law) of servicing the Client’s current trading account and cancellation of orders, with full payment of the current account moneys. The Company must notify the Client of the reasons for this decision. The Company may also refuse this client in the subsequent registration and service of a new trading account.
2.3. The Client shall represent and guarantee that:
• -the Client is of sound mind, adult, and financially sound;
• - Information which the Client provided to the Company is true and correct. The Client shall notify the Company of any and all changes in this information within a day after the change took place.
– An E-mail address specified by the Client is not an e-mail address of general, group, or joint use with third parties. Any and all notices, requests, claims, and information received from this address are considered to be received from the Client and to be accurate.
2.4. The Company shall have the right to request from the Client the confirmation of authenticity of the personal data in the account for the purposes of Due Diligence procedure, as well as in the event of withdrawal of funds. The Company may require a notarized copy of the Client’s identity document and the document proving his/her place of residence.
2.5. The Client undertakes to provide all documents, notices, ensure registration of documents, and take all other actions which the Company may deem necessary or desirable at its own discretion in accordance with the Anti-Money Laundering Policy.
2.6. In the event that double registrations of the same Client with different e-mail addresses are detected, the Company shall have the right to cancel such additional registrations.
3. Shared Risks and Benefit.
3.1. The Client shall be informed on additional risks associated with the specifics of e-trade system functioning and on the problems of Internet communication nodes.
3.2. The Client shall bear the full responsibility for the risks associated with the storage of trading account access data, and must ensure that third parties cannot access the trade terminals. The Client’s losses and risks associated with the restoration of access to the trading account shall not impose any obligation on the Company, other than the provision of new access data to the Client upon sufficient and unambiguous identification of the Client as the holder of this account.
3.3. The Client agrees that the Company shall not be liable for the Client’s losses caused, directly or indirectly, by the government restrictions, currency or market rules, suspension of trading, hostilities, or other conditions usually called the ‘force-majeure circumstances’ which lie beyond the Company’s control.
3.4. The Company shall not be liable before the Client for losses on open and closed trading positions received from trust management, in the event that the term for transferring the Client's moneys to the Company for trust management is less than 180 calendar days.
3.5. The Company shall assume all responsibility for the Client’s moneys transferred to the Company for trust management, in case the investment term is more than 180 calendar days. In the event of losses related to trust management by the Company, the Company undertakes to reimburse all losses to the Client within 30 calendar days from the date of issuance of the Claim for losses.
3.6. The Company undertakes, at the request of the Clients, to provide a report on trading positions in the Client’s account after closing orders within three business days.
3.7. The company undertakes to prevent a drawdown in trading positions by more than 5% of the deposit amount.
3.8. The company shall withhold a commission in its account in the amount of 30% of the profit received from trust management. The remaining 70% of the profit shall be transferred to the Client’s trading account in his/her user account, after closing the trading positions
4.Inquiries, Claims and Disputes
4.1. The parties shall try to settle all disputes by negotiation and correspondence. The Company may consider the Client’s claims, in the event that these claims were submitted in writing.
4.2. All the inquiries of the Client shall be deemed official and regarded as written inquiries, provided that these inquiries were submitted via the Company’s website interface, e-mail to the addresses of the company’s services concerned, or by regular mail. Inquiries submitted using online communication apps, such as ICQ or similar, cannot be deemed as written inquiries.
4.3. The Claim of the Client shall contain:
• - Full name;
• - E-mail;
• - the description of the claim;
4.4. The Company shall have the right to refuse to consider a claim in the following cases:
• - if the claim contains obscene language and/or insults to the Company or its employees;
• - if the claim contains threats against the company or its employees;
• - if the Client uses the threat of defamation of the character of the company in social networks and other resources as an argument.
4.5. The Company shall consider the Client’s claim within ten business days after receiving from the Client all necessary and sufficient information which concerns this claim and is indispensable to settle it.
4.6. In the event of failure to reach an agreement through negotiations and correspondence within 3 (three) months from the date of the beginning of the dispute its further consideration will take place in a judicial proceeding in accordance with the local laws of the country in which the Company is incorporated.
5. Confirmation of Client’s Identity
5.1. The verification procedure is obligatory for the Client to carry out financial transactions.
5.2. The Company is entitled to demand the confirmation of the Client’s identity and information provided upon registration in his/her account. For this purpose, the Client must provide an electronic or notarized copy of his/her passport (at the discretion of the Company), as well as the document confirming the Client’s place of residence.
5.3. In the event that any registration data (name, address or telephone number) of the Client has been changed, the Client shall immediately notify the Company’s Client Service of this and ask for changing this data.
5.4. The Client shall acknowledge that the registration data specified by him/her for the purpose of opening an account can be used by the Company as part of fight against money laundering.
5.5. The Client shall be responsible for the authenticity of submitted documents (their copies) and recognize the right of the Company, in the event of doubt concerning their authenticity, to contact the law enforcement agencies of the country issuing the document to verify its authenticity and, in the event that it detects forge of the document, to hold the client liable in accordance with the legislation of the country issuing the document.
5.6. For verification, the Company shall have the right to request additional documents and photos confirming the Client’s identity, as well as conduct video verification via Skype.
6. Communication of Company with Clients
6.1. The Company can use to communicate with the Client:
• - E-mail;
• - Phone number;
• - Postal items;
• - Viber; Telegram
The Company will use the Client’s details specified by him/her upon opening an account for which purpose the Client shall notify the Company of any changes in contact information.
6.2. Any correspondence (documents, announcements, notifications, confirmations, reports, etc.) shall be considered as received by the Client:
• - one hour after being sent to his/her e-mail address;
• - Immediately after the telephone conversation;
– 7 calendar days from the date of sending a postal item;
– immediately after sending a message via Viber, Telegram.
7. Termination of Agreement
7.1. This agreement shall be terminated if the following occurs:
• - in the event that one of the parties express the desire to terminate this Agreement;
• - in the event of complete withdrawal of moneys from the Client’s trading account, which leads to the termination of relations governed by the Agreement;
• - in the event of breach by the Client of the terms specified in the Agreement, the Company is entitled to terminate this Agreement unilaterally by notifying the Client of such termination and returning in full the Client’s moneys from his/her trading account at the time of the termination of the Agreement.
7.2. In the event that the Company terminates the activities regulated by the Agreement:
• - the Company shall warn the Client a month before such termination;
• - The Company shall pay to the Client the Client’s moneys on the trading account at the time of termination.
7.3. In the event of death of the Client:
• - the right to demand withdrawal of moneys from the Client’s trading account is transferred to the successors of the corresponding line and to the heirs by devise;
• - the right to use the trading account and right to conduct transactions in the financial markets is not transferred by inheritance.
7.4. The Client shall agree that the Company reserves the right, at its own discretion, to suspend or terminate, in whole or in part, the Client’s access to the Company’s Services, followed by notification by means of communication. In this case, this Agreement shall be deemed to be terminated from the date of termination of the provision of services to the Client.
