Common use of Use of Passwords Clause in Contracts

Use of Passwords. 6.1 The Client acknowledges, represents and warrants that: 6.1.1 the Client has received a number, code or other sequence which provides access to the Services (the “Password”); 6.1.2 the Client is the sole and exclusive owner of the Password; 6.1.3 the Client is the sole and exclusive owner of any identification number, code or other sequence which allows access to the Services via computerised online service (the “ID”); 6.1.4 the Client accepts full responsibility for use and protection of the Password and the ID as well as for any Transaction occurring in an account opened, held or accessed through the ID and the Password; 6.1.5 the Client must not disclose the Password or the ID to, or for use by, any other person or Party, for any purpose; 6.1.6 the Client shall be legally bound by any electronic order entry and account access agreement with SKANESTAS upon clicking the “I Accept” button (or other similar indicia of acceptance) after entering the required Password or ID; 6.1.7 any individual who has possession of any Password or ID is the Client’s duly authorised representative, having power and authority to legally bind the Client in this manner, whether or not such usage was authorized by the Client. Such acceptance shall be deemed to be as effective as a written signature performed manually by the Client and shall be deemed to satisfy any writings requirements of any applicable law despite being written and accepted electronically. SKANESTAS’s electronically stored record of the date on which the Client accepts such an agreement shall be conclusive evidence as to the effective date. The Client shall accept and settle unreservedly all Transactions, initiated through the Services, which were carried out using its identification number; and 6.1.8 the Client shall not use any Password or ID which has been supplied to it by SKANESTAS for clearing any transaction with another broker.