Examples of ICBCIF in a sentence
Unless the Client expressly notifies ICBCIS or ICBCIF to the contrary in writing, ICBCIS or ICBCIF will treat the Client as acting as principal and not as agent for others.
Where such set-off, consolidation, combination or transfer requires the conversion of one currency into another, such conversion shall be calculated at the rate of exchange conclusively determined by ICBCIS or ICBCIF to be applicable.
ICBCIS or ICBCIF is authorized to conduct credit enquiries on the Client to verify the information provided or check on the Client's purpose of ascertaining any information provided by the Client and the Client's financial situation and investment objectives.
Margin calls must be met on demand (or such other time limit as may be specified by ICBCIF from time to time but, in any event shall not be later than the time the relevant Exchange or Clearing House requires client margin to be met).
The Client shall be fully responsible for all the losses, costs, charges and expenses whatsoever incurred as a result of any omissions for closing out any open position, the Client shall be responsible for the aforesaid charges and shall fully indemnify ICBCIF as such.
ICBCIS, ICBCIF or any ICBC International Group Member may be the counterparty to any Transaction effected by ICBCIS or ICBCIF on the Client's behalf.
Without prejudice to the provisions of Clause 3 in this Part, failure to meet such calls may result in ICBCIF being entitled or obliged by the rules or regulations of the relevant Exchange and/or Clearing House to close out the Open Contracts held on behalf of the Client in respect of which calls have not been met, and/or to notify the relevant Exchange, Clearing House, clearing member or broker particulars of such Open Contracts.
The Agreement and all the related documents referred to in the Agreement collectively supersede all prior arrangements between the Client and ICBCIS and/or ICBCIF (as the case may be) and any such prior arrangements or agreements are and shall be of no effect.
Without prejudice to any other rights and remedies available to ICBCIS or ICBCIF, the Client agrees that ICBCIS or ICBCIF may dispose or initiate a disposal by an Associated Entity of ICBCIS or ICBCIF of any of the client securities and securities collateral from time to time received or held on the Client's behalf in settlement of any liability owed by the Client or on the Client's behalf to ICBCIS or ICBCIF, its Associated Entity or a third person.
The Client will notify ICBCIS or ICBCIF in writing as soon as there are any changes in the trustee(s).