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Requirements

Terms of Use

With the Costra FX Service, clients of Costra Enterprises Ltd. can independently make real-time currency trades on the Forex market by using software specifically created for currency exchanges and which Costra FX makes freely available to its clients as part of the service provided.

With the Costra FX Service, the client performs currency trades through Costra Enterprises Ltd. using the balance of their own client account; the trading activities of the client are therefore executed against a collateral security. The balance of the secured client account consists of the client's provided capital and the current floating profit or loss of the client's outstanding market positions. With the Costra FX Service, the client can open a position in which the size of the realised trade exceeds their current client account balance, causing the client to avail of a so-called "leverage" facility which allows a large profit or loss in relation to the opened position to be bound to a collateral. The available collateral of the Costra FX Service's client changes thus, if the open position develops positively in regard to the client, their available collateral increases. Similarly, if the opened position develops negatively in regard to the client, their available collateral decreases and there is the risk of losing the whole collateral. If the value of the available collateral of the client falls below the collateral requirements of their open positions, or the then-current valid minimum collateral requirements, all of their open positions are automatically closed at the current market price.

Currency transactions, as with other investments, are always high risk ventures that the client should understand before making the decision to start exchange trading, which is not suitable for all investors. The client should always carefully consider their investment objectives, their level of experience and risk tolerance and understand that in the pursuit of high returns, there are always high risks as high leverage can work both for or against the client depending on market developments. With the Costra Trading Service, the service provider does not provide buying or selling recommendations and neither do the services provide general information or other such information intended to guide the investment process of the client so the client must form their own view of the market or use the investment advice of specialists, taking into account that investment operations always come with high risk such as the loss of all invested capital. The Costra Trading Service retains the right to close positions in regards to the framework of the valid collateral margin terms.

If you have any questions related to the Costra FX Service or its terms of use, Costra Enterprises Ltd. may be contacted at the e-mail address below: This email address is being protected from spambots. You need JavaScript enabled to view it. .

1. Terms of agreement and creating of an agreement

The website ( www.costra-fx.net) of Costra Enterprises Ltd. (Business ID: 5289721, 189 Greenhithe Rd., Auckland, 0632, New Zealand hereinafter known as "Costra") or other Costra managed websites and/or other free or paid services represent the e-services described within Costra's aforementioned service description (hereinafter known as "Services"), the use of which (including access to / browsing of the site, the downloading of software or other material from the pages and its use as well as the utilisation of other materials provided by Costra) are subject to the general terms and conditions (hereinafter referred to as "Terms Of Use") of Costra.

Use of the Costra Service requires that the user is an adult and accepts and complies with (i) the Terms Of Use and (ii) is accepted as a Service user ("User") when registering according to the Costra Services data protection description, after which the User can utilise the services according to the valid Terms Of Use.

By registering as a user and using the Services, the user agrees to comply with the then valid Terms Of Use. Costra may, from time to time, make changes to the Terms Of Use so the user should regularly acquaint themselves with these conditions. If you do not accept these terms, we encourage you not to use these Services.

2. Responsibility for the content of the services

Costra is responsible for the legality of the content and that it is provided in accordance with good practice, in addition to requirements related to copyrights and other intellectual property rights.

The general information, guidance or advice provided by the Services are not intended to be a legal, commercial, or similarly Costra-binding source of information, guidance or advice, and should not be relied upon by the user. On this basis, demands can not be presented to Costra. Costra accepts no responsibility for any damages caused to the user through the use of incorrect, incomplete or ambiguous data.

Costra is responsible for the services and their accuracy, quality and the functioning of related data in accordance with the applied mandatory legislation.

3. Functionality of the Services and changes in the Services

Costra's Services operate, in principle, 24 hours per day unless, for a single service, a different usage has been notified. Costra will do their best to ensure that the Services are continually available to the User and without disruption. Costra cannot, however, warrant that the Service will be uninterrupted, timely or immune from error. Further, Costra is not responsible for interruptions caused by technical failures, maintenance or installation work to the Services or any changes or loss to the content of the Services or other third party problems, failures or interruptions to the data transfer unless otherwise compelled by legislation or the Terms Of Use.

Costra holds the right to suspend the Services, or parts of, due to changes or reformation of the service offers or due to any connected technical reasons or for reasons of repairing, installation or maintenance work of the data communication network or for any other such reason required by legislation and authorities. Costra will attempt to limit the duration of these interruptions to the minimum possible. Wherever possible, notice of planned interruptions will be provided.

4. No guarantees

THE SERVICES OF COSTRA SERVICES ARE PROVIDED "AS ARE" AND COSTRA DISCLAIMS ANY EXPRESS OR IMPLIED GUARANTEES. ALL UTILISATION OF THE SERVICES TAKES PLACE AT THE SOLE RISK OF THE USER.

THE USER IS SOLELY RESPONSIBLE FOR DAMAGES ARISING FROM THE INFORMATION SYSTEM OR LOSS OF DATA RESULTING FROM DOWNLOADING THE CONTENT (INCLUDING VIRUSES AND MALWARE) OF THE SERVICE. NO ADVICE OR INFORMATION, WRITTEN OR VERBAL, WHICH THE USER MAY RECEIVE FROM COSTRA OR THROUGH THE SERVICE SHALL CREATE ANY LEGALLY BINDING COUNSEL OR GUARANTEE UNLESS OTHERWISE EXPRESSLY STATED IN THESE TERMS OF USE.

COSTRA DOES NOT GUARANTEE THAT (i) THE SERVICES OR THE MATERIAL RECEIVED THROUGH THE SERVICES CORRESPONDS TO THE USER'S EXPECTATIONS, (ii) THE SERVICES ARE AVAILABLE UNINTERRUPTED OR TIMELY, RELIABLY OR FLAWLESSLY, OR (iii) THE ACCURACY AND QUALITY OF THE INFORMATION WHICH THE USER HAS RECEIVED THROUGH THE SERVICES, IS ERROR-FREE, OR OTHERWISE MEETS THE EXPECTATIONS OF THE USER.

NOTHING IN THIS AGREEMENT SHALL LIMIT THE STATUTORY RIGHTS OF THE CONSUMER.

5. Limitation of the liability

COSTRA (INCLUDING ITS POSSIBLE SERVICE PROVIDERS) ARE NOT RESPONSIBLE FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING DELAYS, DAMAGES CAUSED BY UNUSED SERVICE POSSIBILITIES, LOSS OF INCOME, GOODWILL, USER RIGHTS, OR DATA OR OTHER ECONOMICAL LOSSES, RESULTING FROM (i) USE OF THE SERVICES OR BECAUSE THESE COULD NOT BE USED; (ii) COSTS ARISING FROM ACQUIRING A SUBSTITUTE SERVICE, (iii) DATA OR INFORMATION RECEIVED THROUGH THE SERVICES OR A MESSAGE WHICH HAS BEEN RECEIVED THROUGH THE SERVICES; (iv) UNLAWFUL DATA TRANSMISSIONS OR UNLAWFUL ALTERATIONS TO THESE, OR (v) OTHER CONDITIONS CONNECTED TO THE SERVICES.

6. Service rates and the payment of taxes

The Services provided by Costra may be provided free of charge or for a fee. For each individual service, a report is made in so far as it is a question of a paid service. The use of a paid service requires the payment of its connected indicated price and other charges. A payment service may include a connection fee and determined by its use, a time bound, or otherwise determined payment plus additional individual charges connected to the service.

The valid prices and pricing basis are shown on the relevant web page of each specific service.

The client is personally responsible for all officially required declarations and the payment of all applicable taxes which are resultant from trade using the Services provided by Costra.

7. Payment

Costra holds the right to examine the credit information of the user during registration for the services. Costra has the right to prevent the user from using the Services if, during the clarification of the credit records, payment defaults are identified or other valid reasons become justified. Costra has the right to take necessary steps to investigate and prevent money laundering and the financing of terrorism in compliance with (503/2008) laws.

8. User liability

The user is obligated to reimburse Costra for damages caused by use of Services which are either unlawful or contrary to these Terms Of Use. The user must provide Costrawith the required personal information and other information required for using the Services. The user is responsible for the accuracy of the reported information and is obligated to inform Costra of any changes made to the information provided. The contact information supplied by the user is also used to identify the user at certain times i.e. when a password is changed. The user is responsible for any errors or delays resulting from the fact that information provided by the user is incomplete or outdated.

In so far as the Services require user-specific identification and passwords, the user is responsible for the retention of the identification and password details and to ensure that these do not become known to a third party. The identification and password details are used to identify the correct user and, due to this, the user is responsible for all business operations and other functions which are performed through the Service with the relevant identification and password. If the user notices and / or suspects that their identification and password are being used without permission by a third party, the user must immediately notify Costra. Additionally, the user must change their password on a regular basis to improve account security.

9. Data security

The data networks and the services which are provided through them are not completely safe. The user is responsible for the proper handling of the information and security of their own information systems. The user is also responsible for the equipment required to use the Services, the acquisition and operational condition of the links and software and to ensure that they do not cause damage or disruption to Costra or a third party.

10. Force majeure

A force majeure releases Costra from any such obligations connected to its services, in so far as events prevent the functioning of its service or parts thereof or causes undue harm to it. Such events considered to be a force majeure are fires, earthquakes, floods, explosions, strikes and other cessations of work, the orders of officials, disturbances concerning the supply of energy, shortages of raw materials or equipment, war, civil unrest, externally caused by external sources resultant cable or data communication disturbances or other such reasons which were not previously known and for which prior preparation was not possible.

Costra will inform users of a force majeure via the pages of the service as soon as possible after the event has occurred, in so far as an announcement is possible.

11. Governing law and jurisdiction

These Terms Of Use, the Services and Privacy policy covered by these Terms Of Use, in addition to other matters connected to the services, are governed by New Zealand's law.

Resolution of any dispute connected to the services, the Terms Of Use or the Privacy policy description must initially be attempted through negotiations between the relevant parties. Where this proves unsuccessful, disputes are to be primarily resolved in the district court of Auckland. A retail client, however, has the right to instigate a lawsuit against Costra in the general lower court of justice of their own place of domicile. A retail client also has the right to request a recommendation from the consumer complaint board in regards to a dispute.

12. The validity and changes to the Terms of use

These Terms Of Use come into effect as of 1st of April 2011 and shall be considered valid until further notice. These Terms Of Use shall apply to the Services unless otherwise agreed in writing. Costra may change these Terms of use at any time and without prior notice. Costra will attempt to inform users of changes to these Terms Of Use in connection with the Services. Changes to the Terms Of Use will take effect at a time indicated by Costra. By using the Services or by express recognition, the user accepts any and all changes as binding. If the user does not accept any change to the Terms Of Use then they must cease use of the Services immediately.

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