Common use of Instructions and Transactions Clause in Contracts

Instructions and Transactions. 25.1 Unless otherwise agreed by Charterprime, all dealing instructions must be given to Charterprime electronically through the Client’s Trading Platform. 25.2 A dealing instruction given by the Client shall not take effect until actually received by the Company. In the absence of fraud, gross negligence or wilful misconduct on the Company’s part, the Company shall be entitled to act on the behalf of the Client upon instruction given or purporting to be given by the Client or any other person on the Client’s behalf without further inquiry as to the genuineness, authority or identity of any such person giving or purporting to give such instructions. 25.3 Charterprime may, in our sole and absolute discretion, refuse to accept any dealing instructions from the Client but will endeavour to notify the Client of any such refusal, without giving any reasons, promptly following receipt of the Client’s instructions. In addition, a dealing instruction that for any reason is not received by Charterprime in a manner in which it can be processed shall be deemed rejected by us. 25.4 Charterprime may cancel any instructions previously given by the Client provided that Charterprime have not acted on the Client’s instructions. Neither Charterprime, our affiliates, nor any of their directors, officers, employees and agents shall be liable for any loss or damage (including direct, indirect or consequential loss or loss of profits) suffered by the Client or any third party in connection any action or inaction under this Section, except to the extent that such loss or damage results directly from their fraud, gross negligence or wilful misconduct. 25.5 Execution of a dealing instruction by Charterprime shall constitute a binding agreement by the Client and Charterprime to a transaction between Charterprime on the terms of such instruction.