CLIENT CATEGORY Sample Clauses
The CLIENT CATEGORY clause defines the classification or type of client to which the agreement applies. This clause typically specifies whether the client is, for example, a retail customer, professional client, or eligible counterparty, and may outline the criteria or regulatory status required for each category. By clearly identifying the client category, the clause ensures that the appropriate legal protections, obligations, and disclosures are applied, thereby promoting compliance and reducing the risk of misunderstandings or regulatory breaches.
CLIENT CATEGORY. For the purposes of the Law, the Bank considers the Client to be a “Retail Client”. Retail Clients’ interests are protected by the broadest possible application of the legislative and regulatory framework to the Clients’ relationship with the Bank. In the event that the Client wishes to waive some of the said protection rights and be treated as a “Professional Client”, either in general or for one or more investment and/or ancillary services, the Client must request this of the Bank in writing, and such waiver shall apply provided that the relevant criteria apply and the process described in Section II of Annex II of the Law, as currently applicable, is followed, and under the condition that it is accepted by the Bank in accordance with legislation and the Policy on Customer Classification developed and applied by the Bank. The Bank’s right to accept the request for waiver from the protection of interests provided through change in Client category is exercised at the Bank’s sole discretion.