TERMS AND CONDITIONS OF CUSTOMER DEVELOPMENT POLICY - Pinetree Securities

TERMS AND CONDITIONS OF CUSTOMER DEVELOPMENT POLICY

Customer Development Program

TERMS AND CONDITIONS OF CUSTOMER DEVELOPMENT POLICY

(Applicable to referred customers)

I. PARTICIPANTS:

New customers – who have never opened a securities trading account at Pinetree or who already opened a securities trading account but had no transaction within at least 06 months from the date of being introduced to Pinetree by the partner.

II. CUSTOMER DEVELOPMENT ACTIVITIES

  1. By registering to participate in this Policy, Customer agrees to receive the followings supports:

a. To be introduced and provided fully by the Partner the following information:

  • Pinetree’s information, including address, telephone, website, brand name, prestige, etc.; 
  • Information that Pinetree is having/providing products, services and policies from time to time.

b. Customer’s feedback about products, services and/or policies of Pinetree will be heard, collected by Partner to provide Pinetree.

c. To be supported by the Partner to inform Pinetree and request Pinetree to deal with any claims, arising matters in relation to Customers and/or transactions of Customers at Pinetree.

d. To be provided by the Partner with information, explanation (upon Customer’s request) on the rights, benefits, and expenses arose when being introduced to trade at Pinetree according to this Policy.

2. When participating in this Policy, the Partner will be provided with an ID code or a link customized to that partner so that the partner can provide to Customers to record the introduction, supports by Partner.

III. REQUIREMENTS ON THE RECOGNITION OF CUSTOMERS INTRODUCED BY PARTNERS

  1. The Customer will no longer be recognized as being introduced and supported by the Partner in any of the following cases:

a. The Partner or the Customer requests Pinetree to terminate the supporting activities between the Partner and the Customer.

b. The Customer closes the Customer’s securities account at Pinetree or transfers all money and securities deposited at Pinetree to another depository member.

c. The Partner breaches partner’s obligations or commitments under the contract between the Partner and Pinetree relating to the customer referral activities.

d. The Partner has been recognized as the Customer’s introducer, but Pinetree has its reasonable evidence to determine that the Customer is not aware of such introduction and has not been provided with information about Pinetree’s products and services by the Partner.

e. Customer development cooperation activities between Pinetree and the Partner is terminated in accordance with relevant agreements and policies.

2. If any of the above cases arises, the Partner’s participation in this Policy will be terminated, and as a result, the securities trading account of that customers will be applied a trading fee and interest rate scheme similar to normal customers at Pinetree.

IV. THE FEE SCHEME

Throughout the time participating in this policy, the Customer irrevocably agrees that relevant transactions of Customer shall be automatically applied the trading fee and/or interest rate specifically applicable to the Customer participating in the Policy which is announced or notified by Pinetree from time to time in any method in accordance with the securities trading account opening contract entered into between the Customer and Pinetree and the law.

V. GENERAL PROVISIONS

When Customer participates in this Policy, Customer’s registrations, terms and conditions related to this Policy are considered an integral part of the securities trading account opening contract entered into between the Customer and Pinetree.

Pinetree has the full right to actively amend, supplement and apply the Policy at any time by announcing or notifying Customer in any method in accordance with the securities trading account opening contract entered into between Customer and Pinetree without any consent or confirmation of Customer. The Customer confirms that by continuing using products and services provided by Pinetree without requesting to stop participating in the Policy, the Customer is deemed as unconditionally accept such amendments and/or supplements of Pinetree.

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CUSTOMER DEVELOPMENT POLICY

I. PARTICIPANTS:

  • Customers already opened securities trading account at Pinetree and want to introduce other customers to use Pinetree’s products and services, agree to participate in the policy by signing the Cooperation agreement on customer acquisition (partners). Customers are not an employee of Pinetree and/or relatives and/or related persons of Pinetree’s employees (including biological father, biological mother, father-in-law, mother-in-law, wife, husband, biological children, adopted children, siblings of Pinetree employees or organizations or businesses where Pinetree employees have labor relations or holding the position of enterprise manager according to the provisions of the Enterprise Law).
  • Introduced customers: new customers – who have never opened a securities trading account at Pinetree or customers who already opened a securities trading account but had no transaction within at least 06 months from the date of being introduced to Pinetree by the partner.

II. CUSTOMER DEVELOPMENT ACTIVITIES

  1. When participating in this program, a partner will implement the following activities to recommend and develop customers at Pinetree, and is entitled to a remuneration based on his introduced customers according to this policy:

a. To introduce and provide domestic Customers and/or foreign Customers fully the following information:

  • Pinetree’s information, including address, telephone, website, brand name, prestige, etc.; 
  • Information that Pinetree is having/providing products, services and policies from time to time.

b. To collect and provide Pinetree with any feedbacks of Customers about products, services and/or policies of Pinetree.

c. To support and cooperate with Pinetree upon Pinetree’s requirements, if any, to deal with any matters arising in relation to Customers and/or transactions of Customers.

d. To clarify for customers (upon request) on the rights, benefits, and expenses arose when introducing the customer to trade at Pinetree according to this policy.

e. To do other works allowed under the Cooperation Contract on Customer Acquisition.

2. When participating in this policy, the partner will be provided an ID code or a link attached to that partner so that the partner can provide to customers to record his introduction as required in Section III below.

III. REQUIREMENTS ON THE RECOGNITION OF CUSTOMERS INTRODUCED BY PARTNERS

  1. Conditions of successful customer introduction

A customer is considered successfully introduced and supported by the partner if satisfying the below conditions:

  • (i) successfully opened and activated a securities trading account at Pinetree, or (ii) has resumed trading after at least 06 months of not trading, according to the record at Pinetree; and
  • customer has signed and sent to Pinetree the confirmation of being introduced and supported by the partner using Pinetree’s form and Pinetree already confirmed of receiving such information.

From the time the introduction is considered successful and throughout the recorded period of being supported by the partner, the customer’s account will be automatically applied the trading fee and interest rate scheme as stated in this policy specified in Section IV below.

2. The customer will not be recognized as being introduced and supported by the partner in any of the following cases:

a. The partner or the customer requests Pinetree to terminate the supporting activities between the partner and the customer.

b. The customer closes the customer’s securities account at Pinetree or transfer all money and securities deposited at Pientree to another depository member.

c. The partner breaches its obligations or commitments under the Cooperation agreement on customer acquisition.

d. The partner has been recognized as the customer’s introducer, but Pinetree has its reasonable evidence to determine that the customer is not aware of such introduction and has not been provided with information about Pinetree’s products and services from the partner.

3. The partner is considered to terminate/relinquish the participation in this policy when one of the following cases arises:

a. The partner closes his securities account at Pinetree or transfer all money and securities deposited at Pientree to another depository member.

b. The Cooperation agreement on customer acquisition between the partner and Pinetree is terminated.

4. When any case specified in Clause 2 and 3 arises, the partner’s participation in this policy will be terminated, and thus the securities trading account  of that partner’s customers will be applied a trading fee and interest rate scheme similar to normal customers at Pinetree

IV. THE FEE SCHEME AND REMUNERATION

  1. The trading fee and margin interest rates applied to the introduced customers:

Througout the time participating in this policy, the customer will be applied the below trading fee and interest rate: Biểu phí

* Other fees not listed above are applied according to the policy and fee schedules published by Pinetree from time to time. The above scheme is not applied for sub-account PineFolio and/or other Pinetree’s particular sub-accounts/products/services (if any) according to the decision of General Director from time to time.

Service fees are inclusive of VAT (but exclusive of other taxes, if any, as prescribed by the State competent authorities from time to time).

In addition to the above service fees, Pinetree may apply other fee policies for high-networth customers in accordance with registration and/or agreement from time to time.

2. Remuneration:

a. Throughout the time participating in this policy, the partner is entitled to the remuneration related to the customers recorded as being introduced and supported by the partner, when those customers successfully perform stock/fund certificate/covered warrant transaction(s) and/or or derivatives recorded by Pinetree’s system and in accordance with Pinetree’s stock/fund certificate/covered warrant and/or derivatives trading regulations from time to time.

The remuneration is calculcated as below:

Stocks/Fund certificates/Covered warrants

Remuneration = Total net stocks/fund certificates/covered warrants trading fee paid by customers (total trading fee paid by customers excluding the fees paid to the stock exchange) * Stock/Fund certificates/Covered warrants remuneration ratio

In which:

  • Total net stocks/fund certificates/covered warrants trading fee does not include transactions in sub-account PineFolio (PF)
  • The Stock/ Fund certificates/Covered warrants remuneration ratio is determined in one of the following two cases:
Total net stocks/fund certificates/covered warrants trading fee/monthStocks/Fund certificates/Covered warrants remuneration ratio (*)
< VND 15 mil60%
≥ VND 15 mil70%

* The remuneration ratio is applied on total net stock/fund certificates/covered warrants trading fee.

  • The Derivatives remuneration ratio is determined in one of the following two cases:
Total derivatives trading contracts/monthDerivatives remuneration ratio (*)
< 1500 contracts60%
≥ 1500 contracts 70%

* The remuneration ratio is applied on total derivatives trading fee of total contracts.

b. In case the partner is an individual, the remuneration paid to the partner mentioned above includes personal income tax and will be directly deducted by Pinetree in accordance with the law before payment to the partner.

c. Remuneration payment:

  • Pinetree will pay the remuneration to partners on a monthly basis according to the principle that the remuneration arising in the month (if any) will be paid no later than the 8th working day of the following month and in accordance with the Cooperation agreement in customer acquisition.
  • The remuneration payment is made to the partners’ securities trading account opened at Pinetree.
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