Common use of Currency of Transactions Clause in Contracts

Currency of Transactions. Retail Repurchase Agreements may be supported by underlying securities that are denominated in Jamaican Dollars or United States Dollars or such other foreign currency as JMMB may offer from time to time. Where the underlying securities are denominated in a foreign currency, the Repurchase Price that will be payable by JMMB to the client will be in the underlying currency, and as such the client will not bear currency risk. Associated Risks Entering into a Retail Repurchase Agreement may involve a number a risks including the following: • Market Risk – the underlying securities may come from a crosssection of markets. The prices or values of the securities are determined by market forces. Each market has its own characteristics and risks. Any assessment of future value of the securities should not be based solely on historical performance as the current value may bear little or no relation to the historical price or value of the securities. • Credit Risk – the creditworthiness of the issuer, whether actual or perceived, including actual or anticipated upgrades or downgrades by credit agencies may affect the value of the purchased securities. • Inflation Risk – this will occur when there is a general increase in prices and fall in the purchasing value of money. Inflation risk may exist in that the returns to your investment may not be sufficiently higher than inflation to allow you to meet your financial goals. • Liquidity Risk – this is the risk that JMMB as seller may not be able to pay the repurchase price in a timely manner. • Legal Risk – there is no guarantee that in the event of insolvency the courts will treat the transaction as a sale and repurchase and not a secured loan. This is so because JMMB may retain the rewards (coupon payments) and risks (credit risks) during the life of the Retail Repurchase Agreement. Fees, Charges and Penalties Various fees and expenses such as establishment fees, contribution fees, withdrawal fees, service fees and termination fees may apply to Retail Repurchase Agreements. These fees and costs may affect the amount of monies paid to the client when the securities are repurchased. Also, under Retail Repurchase Agreements there are various penalties and associated fees if various covenants of the agreement are broken by the client, including an early redemption to which clause 3(7) of JMMB’s client Contract will apply. Fees, costs and potential penalties will be posted on xxx.xxxx.xxx.

Currency of Transactions. Retail Repurchase Agreements may be supported by underlying securities that are denominated in Jamaican Dollars or United States Dollars or such other foreign currency as JMMB may offer from time to time. Where the underlying securities are denominated in a foreign currency, the Repurchase Price that will be payable by JMMB to the client will be in the underlying currency, and as such the client will not bear currency risk. Associated Risks Entering into a Retail Repurchase Agreement may involve a number a risks including the following: • Market Risk – the underlying securities may come from a crosssection cross- section of markets. The prices or values of the securities are determined by market forces. Each market has its own characteristics and risks. Any assessment of future value of the securities should not be based solely on historical performance as the current value may bear little or no relation to the historical price or value of the securities. • Credit Risk – the creditworthiness of the issuer, whether actual or perceived, including actual or anticipated upgrades or downgrades by credit agencies may affect the value of the purchased securities. • Inflation Risk – this will occur when there is a general increase in prices and fall in the purchasing value of money. Inflation risk may exist in that the returns to your investment may not be sufficiently higher than inflation to allow you to meet your financial goals. • Liquidity Risk – this is the risk that JMMB as seller may not be able to pay the repurchase price in a timely manner. • Legal Risk – there is no guarantee that in the event of insolvency the courts will treat the transaction as a sale and repurchase and not a secured loan. This is so because JMMB may retain the rewards (coupon payments) and risks (credit risks) during the life of the Retail Repurchase Agreement. Fees, Charges and Penalties Various fees and expenses such as establishment fees, contribution fees, withdrawal fees, service fees and termination fees may apply to Retail Repurchase Agreements. These fees and costs may affect the amount of monies paid to the client when the securities are repurchased. Also, under Retail Repurchase Agreements there are various penalties and associated fees if various covenants of the agreement are broken by the client, including an early redemption to which clause 3(7) of JMMB’s client Contract will apply. Fees, costs and potential penalties will be posted on xxx.xxxx.xxx.

Currency of Transactions. Retail Repurchase Agreements may be supported by underlying securities that are denominated in Jamaican Dollars or United States Dollars or such other foreign currency as JMMB may offer from time to time. Where the underlying securities are denominated in a foreign currency, the Repurchase Price that will be payable by JMMB to the client will be in the underlying currency, and as such the client will not bear currency risk. Associated Risks Entering into a Retail Repurchase Agreement may involve a number a risks including the following: •  Market Risk – the underlying securities may come from a crosssection cross- section of markets. The prices or values of the securities are determined by market forces. Each market has its own characteristics and risks. Any assessment of future value of the securities should not be based solely on historical performance as the current value may bear little or no relation to the historical price or value of the securities. •  Credit Risk – the creditworthiness of the issuer, whether actual or perceived, including actual or anticipated upgrades or downgrades by credit agencies may affect the value of the purchased securities. •  Inflation Risk – this will occur when there is a general increase in prices and fall in the purchasing value of money. Inflation risk may exist in that the returns to your investment may not be sufficiently higher than inflation to allow you to meet your financial goals. •  Liquidity Risk – this is the risk that JMMB as seller may not be able to pay the repurchase price in a timely manner. •  Legal Risk – there is no guarantee that in the event of insolvency the courts will treat the transaction as a sale and repurchase and not a secured loan. This is so because JMMB may retain the rewards (coupon payments) and risks (credit risks) during the life of the Retail Repurchase Agreement. Fees, Charges and Penalties Various fees and expenses such as establishment fees, contribution fees, withdrawal fees, service fees and termination fees may apply to Retail Repurchase Agreements. These fees and costs may affect the amount of monies paid to the client when the securities are repurchased. Also, under Retail Repurchase Agreements there are various penalties and associated fees if various covenants of the agreement are broken by the client, including an early redemption to which clause 3(7) of JMMB’s client Contract will apply. Fees, costs and potential penalties will be posted on xxx.xxxx.xxx.