Agreement of Fund Automatic Investment Plan
The Automatic Investment Plan Agreement (“Agreement”) is a valid contract between Long Bridge HK Limited ((the "Company") and clients of the Company (“you,“ “Investor” or “Client”) with regards to matters related to Automatic Investment service. By clicking Confirmation in the App or on the webpage, or by accepting this Agreement in other ways (including but not limited to with signature or seal), you have entered into a contract with the Company and consented to all the content in this Agreement and related regulations, page notices, operation flow, announcements and notifications made in the past or future (collectively referred to as “Agreement” from now on).
Before consenting to this Agreement, you shall read the content of this Agreement in full and in detail. In the case that you disagree with any part of this agreement or are unable to accurately comprehend the Company’s interpretation of the terms, please do not proceed. Once you use the services under this Agreement, you have agreed to be bound by this Agreement and related regulations, pages notices, operation flow, announcements, and notifications.
1. Definitions
Unless otherwise specified in this Agreement, the following terms are defined as below:
“Automatic Investment Plan” Service: refers to fixed term and fixed amount fund(s) subscription services. Following the acceptance of this Agreement, the Company will provide the services according to the Automatic Investment instruction and standing authorities (including but not limited to fund(s) that are subscribed in fixed term and fixed amount, Debit channel(s), Debit Cycle, Debit Date, Debit amount, etc.), that Designated Investment Amount from Designated Debit Account is used to for the subscription of the fund(s) on designated Debit Day in the Debit Cycle (postponed to the next working day in case of non-working days).
“Designated Debit Account”: the account provided by the Client at the commencement of the Automatic Investment Plan service. It can be a securities/bank account in the Client’s name and is based on the Automatic Investment instruction selected by the Client on the page.
“Designated Credit Account”: the securities account designated to be credited when the Client has designated a bank account as the debit account. There will be no Designated Credit Account when a securities account is designated the debit account.
“Designated Automatic Investment Fund”: fund or fund portfolio designated for regular investment by the Client.
“Automatic Investment Amount”: The Automatic Investment amount that the Company subscribes on your behalf on the Debit Date based on your Automatic Investment Plan instruction. Monies in securities accounts used in Automatic Investment Plan may come from an external deposit, currency exchange, sales of stock, or fund transactions, but frozen and pending amounts will not be used in Automatic Investment Plan. Actual debit will be made based on the specific business scenario of what the Company and its collaborating financial institution funds support, specifically it will be based on page prompts as you set up the Automatic Investment Plan service, as well as other regulations and notifications are shown.
“Debit Day”: The day on which the Company charges Automatic Investment Plan monies from your Designated Debit Account and subscribes designed Automatic Investment Plan funds.
“Debit Cycle”: The cycle that you designate an Automatic Investment Plan amount for investment in an Automatic Investment Plan. You may choose the frequency of daily, weekly or monthly as well as designate specific dates. Specifically, it will be based on the notification on the Automatic Investment Plan page. In the case that the date is a Saturday or Hong Kong Public Holiday (including Sunday), or the market is closed due to bad weather or other reasons or holiday, the planned execution day will be postponed to the next working day.
2. Specific Terms and Conditions
(1) Investors who have opened a fund account and approved by the Company as a qualified investor for Automatic Investment service will be able to commence Automatic Investment Plan service. By using this service, you hereby confirm that it is out of your true intention, and that you accept full responsibility for the authenticity and validity of instructions in the process of using this service, the instructions in using this service will be seen as the expression of your true intention and cannot be changed or canceled. You acknowledge that you accept all risks involved in the Company’s operation based on your instructions.
(2) You understand and agree that, upon acceptance of this Agreement, you consent to the Company to debit the amount from your Debit Account according to your Standing Authority and Automatic Investment amount in your Automatic Investment instruction, in order to complete subscription of your Automatic Investment funds. the Company’s execution of the related debit order will be decided in conjunction with the actual business scenario supported by the Company, for more details, please refer to the page when you set up Automatic Investment Plan service.
(3) You hereby designate the Company to debit your Designated Debit Account on the Debit Day, according to the Automatic Investment instruction you set up. When the debit is successful, the amount will be used to subscribe to the Automatic Investment fund(s) on the Debit Day. In the case that your Designated Debit Account does not have a sufficient amount set aside for Automatic Investment, the Company reserves absolute rights of discretion to suspend or terminate your Automatic Investment instruction without notifying you, and the losses and liabilities incurred will be borne solely by you.
(4) You understand and agree to the Company in deciding on Automatic Investment business scenarios supported by Automatic Investment service based on the actual situation.
(5) You understand and agree to the Company in reserving the rights to decide on business scenarios supported by the real-time debit according to the actual situation. In the case of monies deposited for a real-time debit business scenario that the Company cannot support, the Company will not execute the debit order, and may not be able to complete a subscription of financial products on your behalf, it will be based on the notification shown on the page.
(6) You understand and agree that the setting up, amendment, termination of, or other actions made relating to the Automatic Investment service will be governed by notifications and regulations related to Automatic Investment service posted by the Company on its the Company site, its App or business scenario page. Clients will be able to open, amend or terminate investment in individual Automatic Investment fund(s). Unless otherwise specified, the deadline of application for all new, amendments, termination of specific Automatic Investment service will be at least one Hong Kong working day (inclusive) before the debit date. Any application submitted after the deadline (inclusive of the deadline day) will be regarded as an application on the next debit date.
(7) You understand and agree that the Company is the executor of the Automatic Investment instruction you set up. Unless the Company fails to operate according to your Automatic Investment instructions, or the operation order was an error, the Company assumes no responsibility for any losses incurred by the Automatic Investment service. Those losses shall be born solely by you.
(8) You understand and agree that the Company merely provides Automatic Investment service according to your instruction and standing authority. The obligation and liabilities of the fund products you purchase through Automatic Investment service and the calculation of return on capital shall be according to the related agreement signed between you and the financial institutions related to the fund products (including but not limited to fund contract and other fund sales documents), the Company plays no part in any dispute between you and the other financial institutions associated with the fund products.
(9) You understand and agree that the Company reserves the rights to unilaterally terminate the Automatic Investment service provided to you through this Agreement based on circumstances (including but not limited to suspension of Automatic Investment service designated by you, when Automatic Investment fund faces major investment risks e.g. the loss of return, loss of capital, changes in your risk-tolerance which becomes inconsistent with the risk of the fund, laws, and regulations, governing authorities requirements, changes in the policies). The Company will notify you through any means agreed in this Agreement before the above actions are taken and is not required to notify you separately, and shall not be responsible for any of your losses as a result of those actions (including but not limited to loss of investment opportunities and investment income).
(10) You agree and promise not to use this service for any actions that are illegal, contradictory to the purpose of this Agreement or detrimental to third-party interests. Otherwise, the Company reserves the right to unilaterally terminate this service with immediate effect and cannot be held responsible in any way; if your actions lead to losses on the Company’s part, you shall accept all compensation liabilities.
(11) You understand and agree that Automatic Investment instructions set up directly or indirectly through authorization is the sole instruction for the Company to provide Automatic Investment service in accordance with the designated manner in this Agreement. The instruction will be treated as your own instruction and you shall accept responsibility for the faithful execution of the above instructions by the Company.
(12) You understand and agree that in case of abnormal status of your account or other designated account (including but not limited to closure, report of lost, stop payment, freezing) resulting in failure to debit and unable to complete Automatic Investment service, the Company will not be responsible in any way.
(13) You understand and agree that once you have implemented the Automatic Investment function, it may lead to insuffucuent funds in your securities account and/or Designated Account(s) for other payment requirements, and any losses (including but not limited to other incomplete payment requirements that may cause losses of fund income) will be your own responsibility, the Company will not be responsible in any way.
(14) You understand and agree that if you intend to set up a bank account as a Designated Debit Account, you must firstly set up and complete authorization in electronic direct debit services for that bank account.
(15) You have read all the offering documents of your Automatic Investment Plan, including but not limited to the related fund prospectus, key facts statement, and annual reports and you agree to all terms on the offering documents. You fully understand and are aware of the terms on the fund offering documents, including but not limited to risks related to investing in this fund. All the above information is provided to you in your chosen language (English, traditional Chinese, or simplified Chinese).
(16) You fully understand that the related offering documents must be relied upon neither as tax, legal, or accounting advice, nor as assessment of the fund’s reputation and other aspects, or as security or guarantee on the fund’s expected return (if any). You shall consult your own tax, legal, accounting, investment, financial, and/or other advisors.
(17) You fully understand that the prices of fund units may rise or fall within a small period of time, investors may lose all of the capital invested, and past performance is not indicative of future performance.
(18) The Company has offered you the relevant documents, opportunities to ask questions and to take independent advice. You have agreed to the content of this agreement and declare that you will fully accept and be responsible for the loss incurred by investing in this fund.
(19) You hereby confirm that you are not the person(s), or entity (including its representative(s)) , prohibited from purchasing or holding fund units listed in the aforesaid offering documents. You guarantee that you are not a citizen or resident of countries listed as prohibited to buy or hold this fund. You promise to notify the Company as soon as you become a citizen or resident of such countries. In that case, you may be required to redeem fund units.
(20) You understand and agree that the Company uses the money in your account to subscribe to related funds based on the Automatic Investment amount set by you. Funds may have a minimum Automatic Investment amount (if any), for more details, please refer to the relevant page.
(21) You fully understand and agree that those fund units are not bank savings and are not guaranteed by the Company or any other related companies.
(22) You confirm that in case you click on “agree” to this Agreement, you have received copies of the related Agreement and all other relevant documents e.g., fund offering documents, fund prospectus and key facts statement. You consent to the content of these documents and state, and you will fully accept and be responsible for the risks created from investing in this fund.
(23) You confirm that if your account balance is in Hong Kong Dollar, your account balance can only be used to purchase funds that are calculated in Hong Kong Dollar; if your account balance is in US Dollar, your account balance can only be used to purchase funds that are calculated in US Dollar.
(24) You understand and agree that the Company reserves the right to cancel or withdraw any discounts to service charges and/or handling fees and/or redemption fees.
(25) You understand and agree that the Company acts as your agent. You understand and accept the fees, charges, and expenses in this instruction. You hereby authorize the Company to accept or reserve any commission, rebate, brokerage, interest and/or other benefits stemming from or related to the above transaction at its own discretion.
(26) You understand and agree that the setting and confirmation of Automatic Investment instruction is final and is legally binding to you, but this is subject to the acceptance by the Company and the final transaction made.
(27) The confirmation, description, guarantee, and authorization shall apply to and be considered effective every time the fund is purchased through this Automatic Investment service. The Company will follow your instruction in this Automatic Investment service. The consent, confirmation, declaration and guarantee are all applicable and are considered applied repeatedly every time the Company may subscribe designated Automatic Investment funds based on your instruction.
3. Standing Authorization
The standing authorizations aim to apply to Automatic Investment service which authorize the Company to perform the following:
(1) Applicable only to Clients who have selected a bank account as a designated debit account:
The Company shall issue a debit order to the bank account on the Debit Day, in accordance with the Automatic Investment amount you have set, and transfer the amount from the bank account to the designated credit account, and then transfer those amount to the fund account (if the Designated Credit Account is a securities account) for the subscription of your Automatic Investment fund. When you redeem the fund, the Company will automatically transfer the amount from the redemption to your securities account.
(2) Applicable only to Clients who have selected a securities account as a designated debit account:
The Company shall issue a debit order to the securities account on the Debit Day, in accordance with the Automatic Investment amount you have set, and transfer the amount from the designated securities account to the fund account for the subscription of your Automatic Investment fund. When you redeem the fund, the Company will automatically transfer the monies from the redemption to your securities account.
4. Information Disclosure on Commission and Fund Sales
(1) The Company will charge a specific percent (generally 1%) of the net fund investment amount annually for the whole duration of the investment period, the exactly details according to the content of Automatic Investment Plan.
(2) The Company acts as an agent, unless otherwise noticed specifically, all the product issuers are third-party issuers and have no relation to the Company. The Company is not an independent intermediary for the below reasons:
a) The Company receives fees, commissions, or other monetary benefits from other parties (which may include product issuers) in relation to the Company’s distribution of the funds to you. For details, please refer to the relevant disclosure the Company provides to you before or when setting up any investment products; and/or
b) The Company receives non-monetary benefits from other parties, or has close relations or other legal or economic relationships with issuers of the funds that the Company may distribute to you.
(3) The Company offers Clients, who have concluded fund transactions with a 100% discount in subscription and redemption of funds, the duration of the discount subject to announcements made by the Company.
5. Communication and Notification
Any communication or notice related to the terms of this Agreement and other agreements, notices or notifications related to your use of the fund services are to be made or given electronically or in writing, including but not limited to: email to the email address you provided, post to the correspondence address provided by the investor in registered mail, on this website, in this App or partner site, mobile phone text, and telephone. You shall ensure that the above electronic mail address, correspondence address, mobile phone, telephone remain correct; If there is a change, you should make the change in accordance with the method specified by the Company . The above communication or notice will be deemed received once sent.
6. Amendments
The Company reserves the right to unilaterally revise the rights and duties in this Agreement at any time. The updated Agreement will be effective immediately upon notification and will be applicable to existing Clients when the changes become effective. The Company will notify you by the agreed means. In the case that you disagree with the changes made to this Agreement, you shall stop using this service immediately. Otherwise, you are deemed to have agreed and accepted the updated Agreement after changes.
7. Limitation of Liability
The Company is not liable for loss, damage, or expense of any kind which the Client or any other person may incur or suffer arising from or in connection with the use of the Automatic Investment service, or related to or stemming from processing or executing your instructions or demands related to Automatic Investment service, except to the extent that any loss, damage or expense incurred or suffered is direct and reasonably foreseeable arising directly and solely from the negligence or willful default or that of the Company or the Company’s personnel, employee or agent.
In the case of Force Majeure events which result in failure to perform the Automatic Investment service, the Company shall notify the parties in this agreement and related parties promptly and take active measures to mitigate the situation, but will not be liable for any losses. Force Majeure events include but are not limited to natural disasters, extraordinary social events, and technical risks that cannot be reasonably foreseen, avoided, or overcome, such as war, fire, earthquake, flood, labor strike, network outage, system failure.
8. Legal and Jurisdiction Matters
The Agreement shall be governed by and construed in all aspects accordance with the laws of Hong Kong, the People’s Republic of China as well as the Company’s bylaws, regulations, and usual practices that are regularly posted, advertised, or by other means published to be effective or updated, formulated or approved. The Client should submit to the non-exclusive jurisdiction of the Hong Kong Courts and their decisions, execution, and judgment on all disputes and claims incurred by and related to the above matters. Disputes in connection with the execution of this Agreement shall be settled through friendly negotiations; in case no settlement can be reached, the case should then be submitted for judgment to the Hong Kong court.
9. Severability
In the case that any provision of the Agreement becomes illegal, invalid, or unenforceable, the remaining provisions will still be valid and enforceable.
10. Miscellaneous
Other terms and related provisions, announcements (including regular amendments) posted on the Automatic Investment service page, once published in the App or website of the Company’s platform, and constitutes an inseparable part of the “Automatic Investment Agreement”, becomes legally effective. In case the Client does not consent to the terms and related provisions, the Client should stop using the Automatic Investment service immediately. By continuing to use the Automatic Investment service, you are deemed to have agreed to be bound by Miscellaneous terms and regulations including the latest versions after regular updates.
If there is any inconsistency or ambiguity among the English version, the Traditional Chinese version, and the Simplified Chinese version, the Traditional Chinese version shall prevail.