Common use of Fund Deposit Clause in Contracts

Fund Deposit. The Client agrees to deposit the Client’s own funds for the purpose solely of making securities investment. The Client further agrees not to deposit or transfer, and uSMART SG is not obliged to accept for deposit, into the Client’s Account any Securities, cheques, bank drafts or other property which are not in the Client’s name. Should uSMART SG decide to accept such deposit, the Client shall indemnify uSMART SG for all Losses that may be sustained or incurred, whether directly or indirectly, as a result of or in connection with the aforementioned.