Client certification of obligation to observe national and international sanctions
Client does hereby affirms, confirms and agrees that within the framework of cooperation with the of GALAKSION GROUP SIA and GALAKSION LTD (hereinafter – the GALAKSION) he/she undertakes obligations:
1) to meet the legislation (including laws, regulations, decisions, resolutions) of the Republic of Latvia, the Republic of Cyprus, the European Union and the United Nations that includes and/or is related to the application of sanctions and other restrictions concerning a range of persons, jurisdictions and territories, including but not limited to: Afghanistan, Algeria, Bahrain, Bosnia and Herzegovina, Crimea, DPRK North Korea, Ethiopia, Iraq, Iran, Kuwait, Lebanon, Lybia, Myanmar (Burma), Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, South Sudan, Sudan, Syria, Uganda, Vanuatu, Yemen, Republic of Belarus, Russian Federation;
2) to meet the legislation of the USA that includes and/or is related to the application of sanctions and other restrictions when sending and receiving money transfers in the currency – US dollars, and when the Client makes transactions and deals with the financial instruments and securities denominated in US dollars and/or emitted by the issuers located at the USA and/or traded on the stock exchanges located at the USA and/or which are kept and accounted in a depository located at the USA and/or these financial instruments are in any manner whatsoever related to the USA in the understanding of the legislation of the USA, and/or other transactions in US dollars;
3) not to perform activities either intentionally or negligently, either directly or indirectly which violate or which might result in violation of the legal provisions, sanctions and restrictions mentioned in Clause 1 and 2 herein;
4) in the course of the activity either intentionally or negligently, either directly or indirectly not to use and not to allow any third party to use any account of the Client with the GALAKSION so that the GALAKSION in any manner whatsoever may be used or involved in violation of the legal provisions, sanctions and restrictions mentioned in Clause 1 and 2 herein;
5) not to enter, immediately terminate and not to support business relations with the persons who violate or may be involved in violation of the legal provisions, sanctions and restrictions mentioned in Clause 1 and 2 herein;
6) at the first request of the GALAKSION in a form set by the GALAKSION to immediately provide information and documents concerning the Client's business and professional activity, including documents related to the third persons directly or indirectly participating in the Client's transactions.
By signing this Certification below the Client recognises and confirms that in the event of violation of the above mentioned clauses of this Certification:
- the GALAKSION is entitled to reject and/or freeze any operations and accounts of the Client with the GALAKSION and immediately, unilaterally and without an approval by the Client, terminate all legal relations with the Client and take other actions stipulated by contractual relations between the GALAKSION and the Client;
- the Client is fully legally liable towards the GALAKSION and third parties and undertakes to reimburse the GALAKSION for all damages the GALAKSION incurs due to the Client's fault as a result of such violations;
- the rights of the GALAKSION mentioned in this Certification supplement other rights of the GALAKSION stipulated by GALAKSION and Client Agreement and Terms and Conditions of GALAKSION and Client Agreement, and other contractual relations between the GALAKSION and the Client and do not depend on other provisions of such documents. Failure by the GALAKSION to exercise its rights established under this Statement does not imply the GALAKSION's refusal to exercise such rights.