Forex Account Management Agreement

FOREX JOINT ACCOUNT MANAGEMENT AGREEMENT
This agreement is made between Jonah Samupfawa referred to as, (“The Trader”) and, Banele Mandaza
(hereinafter referred to as “The Partner”) on this 30th day of December, 2023.
WHEREAS, the Partner desires and is permitted to engage in speculative trading in over-the-counter
foreign exchange market, represents that she has speculative capital for the principal purpose of trading
in Forex Transactions and has been informed and is fully cognizant of the possible high risks associated
with such investments.
As used in this Agreement, “Forex Transaction” shall mean any transaction involving the purchase and
sale of foreign currencies in the inter-bank market. WHEREAS, the partner desires to have the trader to
direct transactions on behalf of the partnership involving the purchase and sale of foreign currencies,
NOW THEREFORE, in consideration of the above recitals, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
The Trading Account
The Partner shall deposit an amount of One Thousand Five Hundred U.S. dollars as part of the
contribution towards the opening on an initial account of five thousand U.S. dollars ($5,000.00) with
Deriv Ltd as the prime broker.
The initial deposit, subsequent deposits and profit sharing shall be subject to this Foreign Exchange
Management Agreement. Partner may add to the case balance of the Account at any time. All provisions
of this Agreement between The Trader and The Partner shall remain in full force and effect until the end
of year 2024.
Authorization Of Managers
The Partner authorizes the Trader to enter orders on behalf of the Joint Account for Forex Transactions.
Further, The Partner agrees to execute a Limited Trading Authorization with our prime broker thus
authorizing Jonah Samupfawa as trader the authority to transact Foreign Transactions in the Joint
Account. The Trader shall have discretionary authority to make all trading decisions for the Account
without prior consultation with the Partner and/or without prior notice or approval from the Partner
with respect to such trading decision. The Partner will not enter any orders in the Account and will not
authorize or permit any other person to do so unless such person is appointed by the Trader.
Trading Strategy
In managing the Account, the Trader agrees to use his best technical analysis knowledge, judgment and
efforts for the benefit of the partnership. However, the parties agree that the we shall bear all risk of
gain or loss in the Account and all expenses of the Account. No assurance can be given that the Trader’s
execution of trades will result in profits or will not result in losses for the Joint Account. If the realized
and/or unrealized losses exceed 80% of the partner's deposit(s) to the account with our prime broker, as
at any given time during the period of the Agreement, the trader will cease trading in that account
immediately and contact the Partner for instructions. The Trader may use stop-loss orders; however, in
the event that a stop-loss order is placed, there can be no assurance that the stop-loss order will protect
the Account against losses.
Compensation/ Profit Share
The Partners shall share an agreed percentage of profits made according to the capital contribution at
the end of this partnership agreement or when realized profits exceed 100% of the deposits made
whichever comes first. The balance of the remaining profits shall be added as retained profits incase of
continuity of this agreement beyond the stipulated end date.
Standard Of Liability and Indemnity.
The Trader shall not be liable to the Partner or to any third party except by reason of acts that constitute
gross negligence, bad faith or intent to defraud. The Partner will indemnify, hold harmless, and defend
the Trader against any liability, loss, cost, damage, or expense and any amount paid in settlement thereof
to which any of them may become subject to in acting pursuant to or in furtherance of this Agreement
or in connection with any transaction for the Account.
Term Of Agreement.
Either party may terminate this Agreement at any time upon at least thirty business days’ prior written
notice to the other. Upon receipt of a notice of termination from the Partner on verbal or written, or if
the Trader gives notice of termination to the Partner, The Trader shall work in good faith to use his best
efforts to assure to the extent practicable that there is an orderly wind-down of positions in the Account.
Once notice of termination is received, The Trader shall liquidate all Account positions as promptly as
practical.
Notices.
All notices or other communications shall be delivered personally or sent by registered mail.
Waivers And Amendments.
None of the provisions of this Agreement may be amended or waived except by a written instrument
duly executed by the party to be charged therewith. No waiver of any right or remedy or any breach of
or default under any provision of this Agreement shall constitute a waiver of any other right or remedy
for any breach of or default under any other provision or of any other breach of or default under the
same provision.
Acceptance Of the Agreement.
This Agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the
parties hereto.
Principal Partner (The Trader) Joint Partner (The Partner)

Name Jonah Samupfawa Name Banele Mandaza
National ID 50-2000360 P50 National ID
Address F75 Njube, Bulawayo Address
Email [email protected] Email
Cell +263774848477/ +263781651539 Cell
Signature Signature

Forex Account Management Agreement

Uploaded by

Copyright:

Available Formats

Forex Account Management Agreement

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Forex Account Management Agreement

Uploaded by

Copyright:

Available Formats

FOREX JOINT ACCOUNT MANAGEMENT AGREEMENT

The Trading Account

Standard Of Liability and Indemnity.

Waivers And Amendments.

Acceptance Of the Agreement.

Principal Partner (The Trader) Joint Partner (The Partner)

You might also like