Argentex General Terms Sample Clauses
Argentex General Terms. 4.1 The Client acknowledges that Argentex is not a deposit taking business and that all funds received by Argentex from the Client with respect to the Services are for the purposes of (a) the issuance and redemption of Electronic Money, in which case the funds corresponding to Electronic Money will be held in accordance with Clause 18; (b) foreign exchange for a commercial purpose; and/or (c) Payment Services. No interest will be paid by ▇▇▇▇▇▇▇▇ to the Client in respect of any funds received from the Client with respect to the Services including Initial Margin and Variation Margin or in return for the issuance of Electronic Money.
4.2 Argentex will make available, upon request, details of the currencies the Client may hold in a Currency Account, the currencies which may be purchased and sold and the currencies which may be used as collateral to satisfy requirements for Initial Margin and Variation Margin.
4.3 Argentex will only enter into a Forward Contract with the Client, pursuant to these Terms, for the purpose of:
(a) facilitating a means of payment for identifiable goods and/or services; or
Argentex General Terms. 4.1 The Client acknowledges that Argentex is not a deposit taking business and that Argentex is not licensed to hold Stored Value (as defined in GEN) and that all funds received by Argentex from the Client with respect to the Services are for the purposes of (a) Foreign Exchange Services for a non-speculative purpose (and whether a Client trades in a manner that is speculative remains within the sole determination of Argentex); and/or (b) the provision of Payment Services.
4.2 No interest will be paid by Argentex to the Client in respect of any funds received from the Client with respect to the Services, including in relation to Initial Margin and Variation Margin.
4.3 Argentex will make available, upon request, details of the currencies the Client may temporarily hold in a Currency Account, the currencies which may be purchased and sold and the currencies which may be used as collateral to satisfy requirements for Initial Margin and Variation Margin.
4.4 Argentex will always contract directly with the Client when entering into FX Contracts. Argentex does not act on the Client’s behalf or as an agent when purchasing currency from its counterparties.