Disclaimer VP Bank e-banking —

Terms of use and legal notices

Detailed information about the risks involved in securities trading can be found in the Liechtenstein Bankers’ Association brochure (2008 edition).

Stock exchange trades in general

Stock exchange trades are subject to the opening hours of VP Bank and of the other institutions and systems involved, such as stock exchanges, settlement and clearing systems, etc. The client bears sole responsibility for the completeness and accuracy of all data relating to a stock exchange trade. The client bears the full risk of misdirected or returned orders and of the resulting non-execution of a stock exchange trade. 

The client assumes responsibility for monitoring stock exchange orders (e. g. limited orders). VP Bank does not warrant the actual execution of orders issued by the client. SMS contract notes regarding stock exchange orders will only be sent for orders that have been wholly or partially executed. The client acknowledges that the sending of such contract notes may be subject to delay. No acknowledgement will be sent regarding cancelled or expired stock exchange orders.

VP Bank accepts no liability for the accuracy and completeness of the data, information and communications which it transmits. These and all other statements regarding information in the public domain, such as stock exchange prices and exchange rates, are provisional and non-binding.

Trading hours

Stock exchange orders issued via e-banking cannot be processed either directly or at all times, as the trading days and hours on the relevant stock exchanges and the Bank’s trading hours (8 to 22 hours) must be taken into account in mind.

Stock exchange orders issued outside trading hours will be processed as follows:

• Same-day orders will not be executed.
• Orders which are valid for several days will be placed on thenext trading day of the relevant stock exchange.

Other orders will be executed in accordance with stock exchange dealing practice. All times indicated are Central European Time (CET).

Stock exchange orders

The client acknowledges that no advice is given on stock exchange orders placed via e-banking and, in placing an order in this way, waives any such advisory service by VP Bank. The client shall ensure that all stock exchange orders are commensurate with his personal financial status and shall bear the potential risk of loss associated with the investment instruments he has chosen. The Bank does not verify that stock exchange orders placed via e-banking are consistent any investment goals agreed upon and accepts no liability for any damages arising from the client’s investment activity via e-banking. 

VP Bank is entitled to reject or cancel stock exchange orders placed by the client if they are not consistent with the relevant standards which apply to the transaction and stock exchange in question or with the other provisions and agreements between VP Bank and the client.

Terms of Use for e-mail

Scope

These Terms of Use apply provided that you have confirmed one or more e-mail addresses with the Bank via the client portal. The Terms of Use apply to business relationships in which you are the account holder, excluding and/or account relationships (hereinafter: business relationship).

Any agreements with the Bank regarding the use of e-mail for general communication, as set out in the ‘Application to Open a New Business Relationship’ and in the ‘Signature Card (UK) for natural persons and power of attorney (VM)’, remain valid irrespective of these Terms of Use. The same applies if you have concluded an e-mail agreement with the Bank.

Content of e-mail communication

By confirming an e-mail address, you give your consent for the Bank to communicate with you via this address. This includes, in particular, the Bank being permitted to contact you unsolicited and to send you information and documents (e.g. push notifications, contractual documents, forms, bank statements and marketing materials) by e-mail. Furthermore, you authorise the Bank to execute any directives relating to a business relationship that it receives from this e-mail address. The placing of payment and trading orders, as well as changes to delivery channels (post, e-Post and retained correspondence), is excluded. This is without prejudice to an instruction for the one-off dispatch of additional documents to existing recipients.

The bank may regard documents signed by you and sent by e-mail, in particular the bank’s own forms, as binding. However, it is under no obligation to do so and may, amongst other things, require the submission of a signed physical document.

Limited verification of identity

The Bank’s verification of identity is limited to comparing the e-mail address provided to the Bank with the e-mail address confirmed by you. If the e-mail addresses match, the content of the e-mail shall be deemed to be your directive.

The Bank is entitled at any time to contact you by means other than e-mail and, at its discretion, to require you to prove your identity by other means, in particular by means of a signature verification. You shall bear any delays arising from such contact and any resulting losses.

Processing of Incoming E-mails

E-mails received by the Bank are processed exclusively during normal opening hours applicable at the Bank’s location. You acknowledge and agree that the processing of incoming e-mails may not always be prompt and that delays may occur in the processing of your directives.

Risks of e-mail communication / the Bank’s disclaimer

E-mails are transmitted via a publicly accessible network, unencrypted and across national borders, and are therefore, in principle, visible to third parties. There is a risk that third parties may infer the existence of a business relationship between the Bank and you and may receive information about it.

The content of e-mails (text, attachments, email address and other information relating to the sender) may be altered and misused by third parties. Furthermore, e-mails drafted by third parties may be sent from an e-mail address confirmed by you or from one belonging to the Bank.

Finally, the transmission of e-mails may be delayed or permanently prevented as a result of errors, technical faults, interruptions, malfunctions, unlawful interference by third parties, network overloads or other causes.

By confirming your e-mail address, you agree that the risks associated with e-mail communication as set out above are your responsibility and that the Bank shall not be liable for any loss or damage you may incur as a result of these risks.

Reporting unauthorised access

Should you have reason to believe that third parties have gained unauthorised access to an e-mail address you have confirmed, you shall report this to the Bank without delay.

Repeal and amendment of the Terms of Use

These Terms of Use shall apply for as long as you have confirmed an e-mail address with the Bank. The Bank reserves the right to amend the Terms of Use at any time, and shall notify you of such amendments in an appropriate manner.

General Terms and Conditions

These Terms of Use are supplemented by the Bank’s General Terms and Conditions, in their current version. In the event of any conflict between these Terms of Use and the General Terms and Conditions, these Terms of Use shall take precedence.