These Terms and Conditions (the “Bonus T&Cs”) govern and apply to the bonus described hereinunder (the “Bonus”) to be conducted by Klips SA (Pty) Ltd, a registered financial services provider in terms of The Financial Advisory and Intermediary Services Act (37 of 2002) (“FAIS”) (FSP number 47742) hereinafter referred to as the “Company” and/or Klips. The Bonus T&Cs apply specifically to the Bonus and are to be read in conjunction with the Klips User Agreement and Client Mandate.
1. DEFINITIONS AND INTERPRETATIONS:
1.1. “Account” means the Client’s account with Klips.
1.2. “Allowable Territory” means South Africa.
1.3. “Bonus” is a discretionary award, made available by the Company, and at the Company’s sole discretion, and will only be made available to South African Clients of Klips SA (Pty) Ltd.
1.4. “Bonus Criteria” means the criteria the Client needs to fulfill in order to be eligible for the Bonus, as detailed in section 3 of these Bonus T&Cs.
1.5. “Bonus Period” means the period starting at Thursday the 21st of December at 14:00 (GMT+2) ending Saturday the 23rd of December 23:59 (GMT+2).
1.6. “Bonus Restrictions” means the restrictions detailed in section 5 of these Bonus T&Cs.
1.7. “Client” refers to the individual accepting the terms of this agreement and using the Company’s trading platform as described in the User Agreement and Client Mandate.
1.8. “Deposit” means any sum successfully deposited by the Client to his Klips account between the minimum deposit amount as described in the Klips User Agreement and Client Mandate.
1.9. “Double Deposit Bonus” refers to the type of Bonus offer provided by Klips to the Eligible Clients as described in these Bonus T&Cs.
1.10. “Eligible Client(s)” means the Clients as defined in section 3 of these Bonus T&Cs.
1.11. “Working Hours” Monday through Friday from 9:00 (GMT+2) to 17:00 (GMT+2).
Capitalized terms used in these Bonus T&Cs and not otherwise defined herein shall have the meaning assigned to them in Klips User Agreement and Client Mandate unless the context shall otherwise require.
2. GENERAL BONUS DESCRIPTION – the “Double Deposit Bonus”:
2.1. Upon an Eligible Client making a successful Deposit to his Klips Account, within the Bonus Period, upon meeting all Bonus Criteria(s) – the Company will double the Deposit amount (add 100% of the Deposit) and add such amount to the Client’s Klips Account, to be used for trading of the Client, subject to the Bonus Restrictions.
Example: if an Eligible Client makes a successful deposit of R2000 Rand within the Bonus Period, the Company will add to the R2000 Rand deposited by the Client, an additional 2000 Rand and the Client’s Account will reflect a total of R4000 Rand (2000 made by the Client and 2000 given to the Client by the Company) all with the Bonus Restrictions.
3. ELIGIBLE CLIENT AND BONUS CRITERIA:
3.1. All existing Clients, may participate in the Bonus and are considered to be, Eligible Clients under the following requirements:
a) clicking on the email invite sent to your email address associated with your Account.
b) completing the opening of your Klips Account, which is subject to the Company’s approval.
c) completing the Klips account registration and verification process which is subject to the Company’s approval.
d) be fully verified by Klips under all its policies and procedures.
e) accept and agree to the Klips User Agreement, Client Mandate and these Bonus T&Cs.
f) be a resident of the Allowable Territory (South Africa).
g) Make a Deposit within the Bonus Period.
3.2. Notwithstanding the foregoing, the following persons are prohibited from receiving the Bonus:
a) employees of the Company or any affiliate and members of their household; and/or
b) persons involved in any part of the administration and execution of this Bonus.
4. BONUS ACTIVATION
4.1. The Bonus will be credited to the Client’s Account, by the Company, within Working Hours.
4.2. The Company will endeavour to credit the Bonus in close proximity to the time the Client successfully made the Deposit but cannot guarantee immediate execution.
5. BONUS RESTRICTIONS:
5.1. The Company will provide a Double Deposit Bonus for Deposits made by Eligible Clients between the minimum deposit amount as described in Klips User Agreement & Client Mandate and up to a Deposit of R5000 Rand. The Company will not grant any Bonus above R5000 Rand, even if a Client makes a Deposit of a larger amount.
5.2. The Bonus will be only granted once to each Eligible Client.
5.3. The Bonus will be only granted to Clients that made a Deposit within the Bonus Period.
5.4. The Bonus is non-transferable and shall apply solely to the Account for which the Bonus was made available.
5.5. This offer is made to individual Clients only.
5.6. The Company reserves the right to modify the Bonus amount and related terms at its sole discretion.
5.7. The Company reserves the right to end the Bonus prior to the end of the Bonus Period at its sole discretion.
6. WITHDRAWAL RESTRICTIONS:
6.1. The Bonus and any profits generated from it are subject to standard withdrawal requirements, as defined by the Company’s User Agreement and Client Mandate.
6.2. The Client may withdraw the Bonus amount and any profits earned while trading with the Bonus when withdrawal preconditions are met as set out in the User Agreement and Client Mandate and only after a Client has made at least three (3) separate trades on the Klips trading platform.
7. TERMINATION AND AMENDMENT:
7.1. The Company reserves the right to terminate, amend, or suspend the Bonus offer at any time without prior notice, based on its sole discretion.
7.2. Klips may also extend the Bonus offer following the lapse of the Bonus Period.
7.3. In the event the Company has reasonable suspicion that a Client is acting or attempting to act in any improper or abusive manner or acts and/or trades, not in accordance with the Company’s User Agreement and Client Mandate the Company has the right, at its sole discretion to:
a) temporarily or permanently block, suspend or terminate the services under such Client’s account with Klips (or any portion thereof) and close of such Account;
b) remove and/or deduct any bonus/benefit which might have been granted to such Client (taking into account any loss sustained which will be fully recognized);
c) remove and/or deduct any profits gained by Client as a result of such manipulation or abuse, including the closure of any open positions in the applicable account(s) with Klips; and/or
d) deny, withhold or withdraw the Client from the Bonus offer and any future Company offers.
7.4. If any provision of these terms is held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions of this agreement.
8. ACCEPTANCE OF TERMS AND CONDITIONS
8.1. By accepting the Bonus offer, the Client acknowledges and agrees to abide by the terms and conditions outlined in this Bonus T&Cs.
8.2. In the event of any conflict or ambiguity between the Bonus T&Cs and the User Agreement and Client Mandate, the terms of the User Agreement and Client Mandate shall prevail.
9. ADDITIONAL TERMS
9.1. Eligibility to participate in the Bonus is limited to one Account per person/household or environment in which computers are shared.
9.2. Clients who have more than one Account are only eligible for one Bonus.
9.3. Persons opening or operating multiple Accounts to benefit from the Bonus will not be entitled to the Bonus.
9.4. For the purpose hereof, Klips may determine, in its sole discretion, that several Accounts maintained under the same household/control/ownership shall be considered a single Account.
9.5. The Promotion will be governed by the laws of South Africa.
In the event you have any questions or concerns, please contact our Customer Support team.