Any failure of systems or equipment (whether or not provided by us) including telecommunications services and facilities save in the case of negligence, wilful misconduct or fraud on the part of the Bank;Our acceptance of any unauthorised instructions which appear (or which we believe) to be from you, however, we will verify the validity of your user id and login password;Delays in the implementation of instructions from you to the extent that such was outside our reasonable control;Delays in despatch or delivery of, or failure to despatch or deliver, any notice or information provided or requested via i-Banking or the Electronic Trading Service or any inaccuracy, error or omission in or from any such notice or in or from any information contained in any such notice to the extent that such was outside our reasonable control;Your failure to use i-Banking or the Electronic Trading Service in accordance with these Internet Terms or any relevant agreement between yourself and Shanghai Commercial Bank Limited;Your reliance, use or otherwise acting upon any information or materials provided via i-Banking or the Electronic Trading Service.
LEGAL NOTICE, RISK DISCLOSURE, DISCLAIMER AND INTELLECTUAL PROPERTY
(altogether, the "Notice")
(B) We control and maintain this website from Hong Kong and we make no representation that the material and information contained in this website is appropriate or available for use in other locations or jurisdictions. The provisions contained in this Notice are governed by Hong Kong law and any dispute shall be subject to the non-exclusive jurisdiction of the Hong Kong courts.
(C) The distribution of this website's materials may be restricted by law in certain jurisdictions. It is your responsibility to find out what those restrictions are and observe them.
(D) The information and material on this website shall not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments securities or any other instrument or bank product of ours or any other issuer.
(E) Use of the products or services described at this website may not be permitted in some countries and if in doubt, you should check with your local legal advisor, regulator or authority before requesting information. The Bank does not possess any licensing or regulatory status in any jurisdiction other than Hong Kong and the Bank will not offer any of its products or services described herein to persons or entities resident in countries where licensing or registration under their local law is required for its provision of such products or services.
(F) Products and services are available only at our discretion, subject to the products and services individual contractual terms and conditions on which they are offered and such products and services may be withdrawn or amended at any time without notice. The full range of products or services may not be available in all locations.
(G) We may terminate your access to this website and use of our i-Banking service (i) for cause at any time with immediate effect by notice to you at the time of such termination or as soon as practicable thereafter; or (ii) with written notice to you of not less than thirty (30) days (or such shorter period as the Bank may at its reasonable discretion determine if such termination is due to circumstances beyond the Bank's reasonable control).
(H) We reserve the right in our discretion to change without prior warning or notice any information or material contained on this website and the provisions under which this website is used provided that any such change which affects fees and charges payable by you and/or your liabilities or obligations hereunder shall take effect only thirty (30) days after such change has been notified to you (whether by posting on this website or otherwise).
By requesting the Bank to provide the Services to you, you acknowledge and agree that you have read, fully understand and agree to the following risk disclosure statements.
Risk of Securities Trading
The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.
Risk of Trading Growth Enterprise Market Stocks
Growth Enterprise Market (GEM) stocks involve a high investment risk. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. GEM stocks may be very volatile and illiquid. You should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Current information on GEM stocks may only be found on the internet website operated by The Stock Exchange of Hong Kong Limited. GEM Companies are usually not required to issue paid announcements in gazetted newspapers. You should seek independent professional advice if you are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of GEM stocks.
Risk of Trading Nasdaq-Amex Securities at The Stock Exchange Of Hong Kong Limited
The securities under the Nasdaq-Amex Pilot Program (PP) are aimed at sophisticated investors. You should consult the relevant professional advisers and become familiarised with the PP before trading in the PP securities. You should be aware that the PP securities are not regulated as a primary or secondary listing on the Main Board or the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited.
Risk of Trading Futures and Options
The risk of loss in trading futures contracts or options is substantial. In some circumstances, you may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore study and understand futures contracts and options before you trade and carefully consider whether such trading is suitable in the light of your own financial position and investment objectives. If you trade options you should inform yourself of exercise and expiration procedures and your rights and obligations upon exercise or expiry.
Risk in relation to Electronic Trading Service
You acknowledge that the Internet or other electronic or telecommunications media are, due to unpredictable traffic congestion and other reasons, inherently unreliable media of communication and that transactions conducted over the Internet or via other electronic or telecommunications media are subject to (a) possible failure or delays in the transmission and receipt of instructions for any or all transactions in securities or other information, and (b) possible failure or delays of execution or execution at prices different from those prevailing at the time when your instructions were given. You acknowledge that there are risks associated with the system, including the failure of hardware and/or software, and that the result of any such system failure may be that your instruction for any or all transactions in securities is not executed. You acknowledge that there are risks of transmission interruption, distortion, omission or blackout, interception of instructions for any or all transactions in securities as well as of misunderstanding or errors in any communication. You acknowledge that it is not usually possible to cancel an instruction for any or all transactions in securities after it has been given. You accept all the above risks and other risks associated with conducting transactions in securities over the Internet or via other electronic or telecommunications media.
Risk of Trading in Derivative Products
A Derivative Product incorporates a derivative element. Changes in market conditions may cause great changes in the value of such derivative. As a consequence, your related exposure to price or market risk may be significantly higher in connection with a Derivative Product than with other non-derivative financial instruments with which you may be familiar. Derivative Transactions are not suitable for many members of the public as they can be complex and carry with them substantial risk of loss. This notice does not purport to disclose or discuss all of the risks and other significant aspects of any Derivative Product or any Derivative Transaction entered into by you through the Bank as agent. You should, therefore, consult with your own legal, tax, financial and other relevant professional advisers prior to entering into any particular transaction. It is important for you to determine whether any transaction is suit able for you or (where applicable) your operations, business or organisation in light of your own experience, circumstances, objectives and resources, and you should be aware that this is your sole responsibility.
Risk of Trading Equity-Linked Instruments
The return component of Equity-Linked Instruments is based on the performance of a single equity security, a basket of equities securities, or an equity index. You may suffer capital loss should the price of the underlying shares go against your view. In extreme cases, you may lose your entire capital. The maximum return on investment is usually limited to a predetermined amount of cash as specified in the Equity-Linked Instruments. So even if your view of the direction of the underlying stock price is correct, you will not gain more than the specified amount. The return payable for the Equity-Linked Instruments is determined at a specified time on the valuation date, irrespective of the fluctuations in the underlying stock price before or after the specified time. Unlike traditional time deposits, there is no guarantee that you will get a return on your investment or any yield. There is also a possibility that n note issuers default on their obligation in returning you the purchase principal or in selling you the underlying stocks. When you buy Equity-Linked Instruments for higher returns, you must be prepared to take higher risks. You should, therefore, consult with your own legal, tax, financial and other relevant professional advisers prior to entering into any particular transaction. It is important for you to determine whether any transaction is suitable for you or (where applicable) your operations, business or organisation in light of your own experience, circumstances, objectives and resources, and you should be aware that this is your sole responsibility.
Risk of Trading Foreign Shares
You should only undertake trading of foreign shares if you understand the nature of foreign shares trading and the extent of your exposure to risks. You should carefully consider whether such transactions are suitable for you in light of your experience, objectives, financial resources, risk profile, and other relevant circumstances. You are also recommended to seek independent professional advice where necessary.
Risk of Shares Overdraft Facilities (SOF)
The risk of loss in financing a transaction by deposit of Securities as collateral is significant. You may sustain losses in excess of the aggregate value of the Securities deposited as collateral with the Bank. Market conditions may make it impossible to execute contingent orders, such as "stop-loss" or "stop-limit" orders. You may be called upon at short notice to provide the Bank with cash or other additional securities to settle the deficit or interest payment of the overdraft account. If the required deficit sum or interest payment is not made within the prescribed time, the Securities held in your Securities Account may be sold or disposed of without your consent. Moreover, you will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such a financing arrangement is suitable in light of your own financial position and investment objectives.
Risk of Client Assets Received or Held Outside Hong Kong
Your assets received or held by us outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap. 571) and the rules made thereunder. Consequently, your assets may not enjoy the same protection as that conferred on your assets received or held in Hong Kong.
Risk of Providing an Authority to Hold Mail
If you provide the Bank with an authority to hold mail, it is important for you to promptly collect in person all contract notes and statements of your account and review them in detail to ensure that any anomalies or mistakes can be detected in a timely fashion.
DISCLAIMER & LIMITATION OF LIABILITY
1. We make no representation or warranty of any kind, express, implied or statutory regarding i-Banking, the Electronic Trading Service and this website or the information or materials contained or referred to in this website or otherwise provided via i-Banking or the Electronic Trading Service. To the fullest extent permitted by law, we hereby expressly exclude and disclaim any condition, representation, warranty or responsibility of any kind relating to i-Banking, the Electronic Trading Service and/or such information and materials, whether express or implied, by statute or otherwise, including without limitation any such condition, representation, warranty or responsibility regarding the title, fitness for a particular purpose, merchantability or standard of quality of i-Banking and the Electronic Trading Service and/or such information and materials, that they will be accurate or free of errors or omissions, that they will not infringe any third party rights, that they will be available and uninterrupted at any particular time, free of computer viruses, trojan horses, worms, software bombs or similar items or processes arising from your use of this website, adhere to any particular performance standards or that any instruction to or information requested from this website and/or via our i-Banking service or the Electronic Trading Service will be acted upon, delivered to or received by you in any time or at all.
2. The information and materials contained on this website or otherwise provided via our i-Banking services or the Electronic Trading Service is provided for information only and should not be used as a basis for making business decisions. Any advice or information received via this website or otherwise provided via our i-Banking services or the Electronic Trading Service should not be relied upon without consulting primary sources of information and obtaining specific professional advice. We accept no liability for any loss or damage arising directly or indirectly from action taken, or not taken, in reliance on information or materials contained on this website or otherwise provided via our i-Banking services or the Electronic Trading Service. In particular, no warranty is given that economic reporting information, materials or data is accurate, reliable or up to date.
3. To the fullest extent permitted by law, we shall not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential loss or damage) from your use of this website, the i-Banking services and the Electronic Trading Service including any loss, damage or expense arising from, but not limited to, any defect, error, fault, mistake or inaccuracy with this website, its contents, our i-Banking services or the Electronic Trading Service, or due to any unavailability of the website or any part thereof or any contents or our i-Banking services or the Electronic Trading Service where such loss or damage is caused by your negligence; by your failure to comply with this agreement; or by any reason or circumstance beyond our reasonable control.
4. We provide hyperlinks from this website to other sites for information purposes only. We accept no liability for any loss or damage arising directly or indirectly (including consequential loss) from the accuracy or otherwise of information or materials contained in such sites or loss arising directly or indirectly from defects with such sites. Our inclusion of hyperlinks to sites does not imply any endorsement by us of the material on such sites.
5. We do not guarantee that any communications from or to this website and/or via our phone-stocktrading services will be sent to you or received by us nor do we warrant the privacy and/or security of such communications during transmission. We will encrypt sensitive information such as personal information during transmission through the Internet (but not email messages as we are unable to encrypt email messages).
6. You acknowledge that there are risks inherent in using i-Banking or the Electronic Trading Service but agree that the benefits justify these risks and you waive any claim you might have against us because of:
7. Our liability for any particular incident or series of related incidences shall, in any event, not exceed the amount of the relevant transaction, instruction or direction (or series of relevant transactions, instructions or directions) or the amount of direct damages suffered by you, whichever is less.
All contents of this website including, but not limited to the text, graphics, links and sounds are the copyright of Shanghai Commercial Bank Ltd. and may not be copied, downloaded, distributed or published in any way without our prior written consent.
In relation to any information or materials which you submit to us using this website, you hereby grant us a worldwide royalty-free perpetual licence of the copyright and intellectual property rigths in such information or materials for any purpose including, without limitation, the copying, transmission, distribution and publication thereof, unless restricted by applicable law. You agree that we shall not be under any obligation of confidentiality to you regarding any such information or materials submitted to it using this website and/or via other electronic or telecommunications means unless agreed otherwise in a separate direct contract between you and us or required by law.
© 2005 Shanghai Commercial Bank Ltd. All Rights Reserved.