Terms and Conditions

(Effective as of 15 July 2020) Note:These Terms and Conditions, the Gold Manager and the relevant Product Key Facts Statement should be issued and read in conjunction with each other.

To:TIPS Dollar (Hong Kong) Limited (“tiips”), whose registered office address is Lion Rock 72, 1/F, Innocentre, 72 Tat Chee Ave, Kowloon Tong, Hong Kong, a financial technology company.

  1. These terms are supplementary to and not in substitution for any provisions in the “Terms and Conditions for Accounts and Services”. In case of inconsistency between these terms and the “Terms and Conditions for Accounts and Services”, the provision in these terms shall prevail insofar as they relate to the tiips’s gold scheme, “Gold Manager”.

  2. I may (at my sole risk) request tiips to establish a non-interest bearing account (“Gold Manager Account”) for me to hold units of Gold Manager which I have attained, the unit price of which shall be valued in H.K. dollars, with reference to spot gold price. Any sale or purchase of units of Gold Manager shall be for such quantity as may be stated in the current Principal Brochure for Gold Manager, from time to time.

  3. Transactions in units of Gold Manager may be subject to a quantity requirement as imposed by tiips, from time to time.

  4. No physical deposit, withdrawal or delivery of physical gold to or from the Gold Manager Account is allowed. Gold Manager does not involve any physical holding or delivery of gold. I acknowledge and agree that I do not have any rights, ownership and possession of any physical gold. The allocation of units in my Gold Manager Account is notional.

  5. No interest shall be payable on my Gold Manager Account.

  6. tiips undertakes to use all reasonable efforts and take all reasonable steps to execute my order for the sale and purchase of units of Gold Manager. However, tiips may refuse to accept my order for the sale and purchase of units of Gold Manager upon such reasonable grounds as it deems fit and shall not be liable for my loss arising out of the same. In particular, tiips may refuse to accept any purchase order if I fail to make available to tiips sufficient cleared funds for the payment of the purchase price together with the relevant fees and charges at the time of execution of the order or if my sale or purchase order does not meet the transaction quantity requirement specified by tiips.

  7. The price per unit for the sale or purchase of units of Gold Manager shall be such price as may be quoted by tiips from time to time taking into account the prevailing market price for spot gold and tiips’s profit margin.

  8. I will make available to tiips such amount as may be required to effect payment of the purchase price and the relevant fees and charges at the time of execution of an order for the purchase of units of Gold Manager.

  9. I understand that currently no tax is payable by me in Hong Kong in connection with the sale and purchase of units of Gold Manager (save where I carry on the business of trading in units of Gold Manager). However, if any tax is imposed at any time, I shall (on demand) pay and indemnify tiips against any tax or other levy arising out of any transactions for the sale and purchase of units of Gold Manager effected through my Gold Manager Account. I shall also be responsible for any tax imposed on me arising out of any such transactions.

  10. tiips may terminate Gold Manager by giving not less than 30 calendar days prior notice to me. tiips may also terminate or close my Gold Manager Account at any time immediately without prior notice to me where there is any change of law which prohibits or renders illegal the maintenance or operation of Gold Manager or the terms and conditions governing Gold Manager.

  11. Upon termination of Gold Manager or my Gold Manager Account pursuant to clause 10 above or upon termination of my Currency Manager Account maintained with tiips, tiips may on my behalf sell any balance of units of Gold Manager standing to the credit in my Gold Manager Account at such prices and on such terms as it deems fit and repay to me the net sale proceeds by depositing the same to any of my Accounts maintained with tiips or sending a cheque to me after deduction of all amounts payable by me to tiips.

  12. tiips is not liable for any failure or delay to meet its obligations due to any causes beyond its control which shall include fire, typhoon, storms, acts of God, riots, strikes, lockouts, wars, governmental control, restriction or prohibition whether local or international, technical failure of any equipment, power failures, black-outs or any other cause which results or is likely to result in the erratic behaviour of the gold or commodity prices, the closure of international gold markets or any other material cause affecting the operation of Gold Manager.

  13. In the absence of negligence or wilful default on the part of tiips, tiips shall not be liable to me for any loss or damages suffered by me as a result of having entered into any transaction for the sale or purchase of units of Gold Manager.

  14. tiips may by notice to me from time to time delete, replace, add or change any terms of these terms. Such amendments will become effective and binding on me on a date specified in the notice, which shall not be less than 30 calendar days or such shorter period as may be approved by the Securities and Futures Commission if the amendments will affect my rights and obligations. Risk Disclosure Statement

I understand all the risks of investing in units of Gold Manager including (without limitation) all such risks set out in the Principal Brochure for Gold Manager and the relevant Product Key Facts Statement.

Gold Manager is not backed by physical gold and tiips has total discretion within such Scheme to determine its own gold hedging arrangements.

I should seek independent financial and legal advice should I have any questions regarding the features and risks of Gold Manager.

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Address

  • [email protected]
  • Lion Rock 72, 1/F, InnoCentre,

    72 Tat Chee Avenue, Kowloon Tong,

    Hong Kong

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