TERMS OF USE
Please take note that the site you are about to access (“Site”) is intended only for clients of the African Alliance Group (the “Intended Investors”).
The Site is not intended or permitted to be accessed or used by any other person who is not an Intended Investor, including any person (natural or juristic) who is located in or is resident of the United States of America.
The information contained in or on the Site does not constitute an offer or an invitation to subscribe for or make use of any service or investment by a person, whether natural or legal, which is resident or situated in any jurisdiction where such offer or invitation would be unlawful, or in any jurisdiction in which African Alliance, or the African Alliance Group, including all of its subsidiaries, is not qualified to make such offer or invitation, or to persons to whom it would be unlawful to make such offer or invitation.
By clicking “REGISTER” below, you -
1. confirm that you are not an investor located in or resident of the United States of America; and
2. consent to all of the terms and conditions governing the use of this Site.
TERMS AND CONDITIONS
You acknowledge and agree that use of this Site is governed by these Conditions. By using the Site, you indicate that you have read and understood these Conditions and that you accept that these Conditions are binding on you.
Please read these Conditions carefully. If you do not accept these Conditions and do not agree to be bound by them, please do not make use of the Site.
For the avoidance of doubt, it is recorded that these Conditions do not affect your statutory rights, including any rights that may be accorded to you under applicable consumer laws, that cannot be altered by contract.
1. DEFINITIONS
1.1. Unless the context indicates otherwise, the following terms shall have the following meanings:
1.1.1. "African Alliance" means the investment manager registered and licensed to manage the Funds in the Jurisdiction;
1.1.2. "African Alliance Group" means the African Alliance Group of companies, details of which are available on request;
1.1.3. "Business Days" means all days except Saturdays, Sundays and national public holidays in the Jurisdiction;
1.1.4. "Conditions" means these African Alliance Online Service terms and conditions as well as any other terms and conditions governing the use of the Site, including Privacy Policy and the Website Terms and Conditions;
1.1.5. “Funds” means the funds on this Site, managed and operated by African Alliance;
1.1.6. “Jurisdiction” means the jurisdiction in which the Funds are registered;
1.1.7. "One-Time PIN number" means a unique personal identification number sent by African Alliance to a User via SMS or email registered with African Alliance, which number, upon its entry by the User onto the Site, shall enable the User to access and use the Service;
1.1.8. "Service" means the African Alliance Online Service, which is the functionality of the Site enabling Users to view investment statements, capture investment instructions and update personal details of the User or representative of the User;
1.1.9. "Service Registration Form" means the electronic application form for the use of the Service;
1.1.10. "Site" means this website of the African Alliance Group, which includes all the online services and functionalities offered by and/or accessible through it;
1.1.11. "SMS" means a short message service provided through a telecommunication system; and
1.1.12. "User" means an investor, or representative of an investor, that holds an investment account with African Alliance and authorised by African Alliance to use the Service.
1.2. Wording importing one gender shall include the other genders, words in the singular shall include the plural and vice versa and natural persons shall include created entities.
2. APPLICATION OF THESE CONDITIONS
2.1. You acknowledge and understand that these Conditions apply to all Users.
2.2. At present, the Service is rendered only to investors in the Funds, however, African Alliance shall, in its absolute discretion, have the right from time to time to add or delete other products or services offered as the Service and to which these Conditions will apply.
2.3. Parties to all transactions in connection with the Service shall be the User and African Alliance. No other party, including any entity within the African Alliance Group, shall be a party to any such transaction nor shall any such party bear any obligations to the User and the User shall not have any rights against any such party in respect of such transactions.
3. AMENDMENTS TO THESE CONDITIONS
3.1. Users acknowledge that African Alliance may amend these Conditions from time to time, at African Alliance’s sole discretion. If African Alliance elects to amend these Conditions, the revised version will be posted on the Site. Users undertake to check the Site regularly for any changes that African Alliance may have made since any previous visit to the Site, since any such changes will be binding on Users. By using the Site, after African Alliance has changed or amended these Conditions, the Users acknowledge that they have accepted those changes and amendments.
4. USING OF SERVICE
4.1. The Service is only available to the existing clients of African Alliance.
4.2. Users acknowledge and understand that the investment management services rendered to them by African Alliance are subject to such terms and conditions as applicable from time to time to the Funds, and that these Conditions are only applicable to the Service available through the Site.
4.3. Investors further acknowledge and understand that African Alliance, acting reasonably, shall have the right to reject any application for its services, including the Service.
4.4. An investor User shall be responsible for updating Users authorised to represent it on the Site.
5. DEALING IN UNIT TRUSTS
5.1. You acknowledge and understand that instructions by Users in connection with the Service may only be given on Business Days. Any instructions given on days other than Business Days shall be deemed to have been given at the commencement of business on the following Working Day
5.2. When dealing online through the Service, the User shall apply electronically to invest in, switch or redeem from the Funds in accordance with the provisions of the Fund’s offering document at the prevailing purchase price, at the close of business on the date of instruction. The cut-off time for the receipt of investment instructions on any Business Day is 11h00. If any instruction is received after the cut-off time, the ruling price prevailing at the close of business on the following Business Day shall be used to calculate the purchase value of the investment.
5.3. The cut-off time in clause 5.2 above also applies to redemptions and switches.
5.4. Users acknowledge and understand that all purchases are subject to a 14-day clearance period in respect of subsequent redemptions and receipt of distribution payments.
6. FORMALITIES OF TRANSACTIONS
6.1. The User authorises African Alliance to act upon its instructions in connection with the Service in terms of these conditions.
6.2. The User acknowledges and understands that African Alliance shall not be liable for any transfer, payment or other act done in accordance with such instructions notwithstanding it subsequently being shown that a particular instruction acted on by African Alliance was not in fact sent or effected by the relevant User, except where African Alliance acts grossly negligently.
6.3. Users further acknowledge and agree that any authorisation received by African Alliance from them, or what purports to be from them, shall remain in force until written notice of the termination of such authorisation by the relevant User is received by African Alliance, and that any termination notice shall not affect the completion of transactions already initiated in terms of this authorisation and prior to African Alliance’s receipt of such termination notice.
7. PROCESSING OF INSTRUCTIONS AND TRANSACTIONS
7.1. Unless otherwise specified, an instruction shall be deemed to have been submitted once the User has positively indicated their verification of the instruction by means of the functional option available on the Site. The User's instructions shall become irrevocable once submitted to African Alliance.
7.2. Notwithstanding clause 7.1 above, African Alliance reserves the right to reject, reverse or suspend the execution of a User's instruction at any time on reasonable grounds, such as where African Alliance reasonably suspects that the value or frequency of transactions is contrary to the course of normal transactions. If a User's instructions are either rejected or suspended, African Alliance shall contact the User within a reasonable period of time to verify the instruction by such means as African Alliance may in its sole discretion determine from time to time.
7.3. In the event that African Alliance reverses a transaction, the User shall have no claim against African Alliance for any losses, damage, claims or costs including, without limitation, any lost profits, arising from the reversal of the transaction, except where such reversal was effected as a result of gross negligence or willful misconduct on African Alliance’s part.
7.4. Each transfer of units shall constitute a completed transaction and ownership of the units shall pass to the User as soon as African Alliance has, subject to clause 7.2, accepted the instruction.
8. INTELLECTUAL PROPERTY
8.1. All information displayed on the Site is subject to the copyright of African Alliance, the African Alliance Group or their licensors.
8.2. All trademarks, logos and designs, whether registered or not, used on this Site are the property of African Alliance or the African Alliance Group.
8.3. The copyright in all material, trademarks, logos and design information vesting in the African Alliance Group and all its subsidiaries, published on this Site, shall continue to vest in African Alliance. Without detracting from this, African Alliance authorises Users to print a copy of the information contained on the Site for Users’ personal use only, including (for the avoidance of doubt) a copy of these Conditions and a copy of the full record of any instruction provided by a particular User to African Alliance and/or a full record of any transaction executed by African Alliance pursuant to such an instruction. Users and Investors may not reproduce or distribute the text or graphics to others or substantially copy the information onto their own servers or links to this Website, without the prior written permission of African Alliance.
8.4. Except as otherwise stated in these Conditions, no party has any right to use any copyright material, trademarks, logos or design information without the written permission of African Alliance. The name African Alliance and its logos, trademarks and designs may not be used in any way including, but not limited to copying, reproduction, transmission, distribution, dissemination, sales, publications, broadcasting, advertising or exploitation, without the prior written permission of African Alliance.
9. SUSPENSION AND/OR TERMINATION OF THE SERVICE
9.1. African Alliance shall have the right to suspend or terminate the use of the Service and/or the Site by a User at any time and without notice where such User commits a material breach of these Conditions or in any other manner interacts with the Site in an unlawful or unauthorised manner.
9.2. African Alliance shall have the right to temporarily suspend the Service and/or the Site for modification or maintenance of the Site, or on any other reasonable ground, and shall use all reasonable endeavours, where possible, to provide Users with advance notice of such suspension.
9.3. African Alliance shall further have the right to permanently suspend, terminate or shut down the Service and/or the Site altogether, on the provision of 15 (fifteen) Business Days’ written notice to Users.
10. SECURITY
10.1. While African Alliance takes reasonable care to ensure that transactions are conducted in a secure environment, you acknowledge that it is impossible to guarantee, and that African Alliance does not guarantee, the security of all transactions.
10.2. African Alliance shall not be liable to any User in respect of any loss, damage, claims or costs arising from the interception, monitoring, modification or other interference with communications or transactions between a User and African Alliance, except where same is caused by African Alliance’s gross negligence or willful misconduct.
10.3. A User shall be solely responsible for his/her use of the Service and for the safe-keeping of his/her One-Time PIN number and password. African Alliance shall not be liable for any loss or damage arising from the unauthorised use of a User's One-Time PIN number and password, except where any unauthorised use stems from African Alliance’s gross negligence or willful misconduct.
10.4. In the event that a User becomes aware of a breach of the confidentiality of a One-Time PIN number or password, this shall be immediately communicated by the User to African Alliance in writing. The User will be sent a new One-Time PIN number or password.
10.5. Users are obliged to log-off from the Service before exiting from a session. Failure to log-off could result in unauthorised transactions for which Users acknowledge that African Alliance will not be held liable.
10.6. African Alliance may, in its sole discretion, and for any reason, issue a User with a new One-Time PIN number and/or require a User to change his/her password for security purposes.
10.7. Users acknowledge and understand that African Alliance shall have the right to accept that all instructions apparently emanating from a User are the instructions of a User, provided that the correct email, One-Time PIN number and password have been used and/or given, and that African Alliance shall not be liable for any loss or damage arising from unauthorised use of the One-Time PIN number or password, except where such unauthorised use stems from African Alliance’s gross negligence or willful misconduct.
11. PRIVACY
11.1. African Alliance respects Users’ rights to privacy and confidentiality and consequently undertakes not to sell or exchange Users’ personal information to or with any third party outside of the African Alliance Group for any purpose other than the purposes disclosed and detailed in African Alliance’s Privacy Policy, which outlines African Alliance’s commitment to your privacy.
12. LIABILITY
12.1. Due to the nature of certain of the information posted on the Site, some of the information may become outdated rapidly. African Alliance accepts no liability of any sort resulting from reliance being placed upon outdated information contained on this Site by any User or other person.
12.2. Whilst every reasonable effort is made to represent accurate financial and technical information on an ongoing basis, inadvertent errors and typographical inaccuracies may occur. Information, laws, rules and regulations may also change from time to time. Information contained on the Site is therefore made available without any express or implied representation or warranty whatsoever, and African Alliance disclaims liability for any expense incurred, or any damages, claims or costs sustained by Users arising from use of the Service or reliance being placed upon any information or representations contained in this Site.
12.3. Without derogating from clause 12.1 and 12.2:
12.3.1. Various third parties supply part of the information contained on the Site to us. While we do take reasonable care in selecting such third parties and while we do have service level agreements in place with them, the receipt of such information is dependent largely on such third parties and complex infrastructures for delivery over which African Alliance has no control. Users acknowledge and understand that African Alliance shall not be liable for losses of any nature arising out of delays or failures in the delivery of such information.
12.3.2. Where information consists of pricing or performance, the data contained therein has been obtained from company reports, financial reporting services, periodicals and other sources reasonably believed to be of a reliable nature. Although carefully verified, data computations are not guaranteed.
12.4. Users are urged to obtain professional advice before acting upon the information supplied.
12.5. African Alliance reserves the right to alter and update information from time to time, without prior notification on the Site, in order to correctly reflect such information. The information made available on the Site should not in any way be construed to be financial, investment, retirement or legal advice.
12.6. All services and information offered on the Site must be confirmed and verified prior to finalisation of any transaction.
12.7. The use of this Site is entirely at the User's own risk. The User hereby authorises African Alliance to make payments in respect of redemptions to the Client’s bank account. Accordingly, African Alliance shall bear no liability of any sort for the losses sustained by Users arising out of their use of the Site or the Service.
12.8. While we take reasonable care to provide links only to reputable third party websites, we have no control over the content of and on such websites and we cannot be responsible for such content, or for the content of any further links contained in linked sites.
12.9. African Alliance accepts no liability for any loss, damage, costs or expenses suffered by any User or any other person as a result of any downtime or unavailability of the Website or Service as a result of planned or unplanned maintenance or any event beyond the reasonable control of African Alliance.
13. APPLICABILITY OF INFORMATION AND SERVICES
13.1. Users and Investors acknowledge that all information regarding all products and services offered, including information in respect of their applicable terms and conditions and any other information, is subject to change without notice.
13.2. For the avoidance of doubt, the information contained in these pages does not constitute an offer or an invitation to use the Service in any jurisdiction where such offer or invitation is unlawful, or any jurisdiction in which African Alliance is not qualified to make such offer or invitation, or to persons to whom it is unlawful to make such offer or invitation. Users and Investors resident outside the Jurisdiction are advised to consult legal and/or investment specialists before making use of the Service.
13.3. Users and Investors are cautioned, and acknowledge that they have been so cautioned, that the products, services and information displayed on the Site have been developed within the legislative, tax and financial framework of the Jurisdiction, and hence may not necessarily be appropriate or fall within the legal framework of other jurisdictions.
14. GOVERNING LAW AND JURISDICTION
14.1. Use of the Service and all transactions and interactions conducted on or through this Site, whether in whole or in part, shall be subject to laws of the Jurisdiction and only courts in that Jurisdiction shall have jurisdiction to hear disputes arising therefrom or from these Conditions. These Conditions do not, however, restrict, or purport to restrict, a User’s right to submit a complaint to any other body in terms of applicable law, including consumer laws which cannot be altered by contract.
14.2. African Alliance does not subscribe to any alternative dispute resolution code which is applicable to transactions and interactions conducted on or through this Site. In the event that African Alliance elects to subscribe to any such code in the future, we will make such code electronically accessible to Users / Investors.
15. INDEMNITY
15.1. The User indemnifies African Alliance against any claims, losses, costs or damage resulting from the use of the Service by the User irrespective of how such claim, loss, damage or cost arises, other than in respect of any claim, loss, damage or cost arising from the gross negligence or willful misconduct of African Alliance.
16. TRANSMISSION OF INFORMATION
16.1. Users acknowledge and accept that information transmitted via the internet, including e-mail, is susceptible to unlawful access or monitoring. Users shall bear all risk of transmitting such information in this manner and under no circumstances will African Alliance be liable for any loss, harm or damage suffered by such Users as a result. African Alliance reserves the right to request independent verification of any information transmitted via the Site or e-mail.
