Common use of Categorization Clause in Contracts

Categorization. In accordance with the regulations, the Bank has a duty to classify its clients into one of the f ollowing categories: “Non-Business Client”, “Business Client” or “Eligible Counterparty” in accordance with Articles D.533-11 et seq. of the French Monetary and Financial Code. A letter will be sent to the Client to inform it of its categorisation and the consequences of such categorisation as well as the possibility of a change of category, with the understanding that the Bank is not obliged to grant the Client’s request. Each category has a degree of protection appropriate to the level of competence and knowledge of financial products, services and markets.

Categorization. In accordance with the regulations, the Bank has a duty to classify its clients into one of the f ollowing following categories: “Non-Business Client”, “Business Client” or “Eligible Counterparty” in accordance with Articles D.533-11 et seq. of the French Monetary and Financial Code. A letter will be sent to the Client to inform it of its categorisation and the consequences of such categorisation as well as the possibility of a change of category, with the understanding that the Bank is not obliged to grant the Client’s request. Each category has a degree of protection appropriate to the level of competence and knowledge of financial products, services and markets.