TERMS & CONDITIONS

1. Scope and Binding Nature

This KYC Policy & Customer Agreement (“Agreement”) forms an integral part of the Client Agreement between the Client and BAB MARKETS (PTY) LTD (“the Company”). By submitting an Application Form, opening an account, or transacting with the Company, the Client agrees to be bound by the provisions of this Agreement. The Client acknowledges that compliance with applicable South African regulatory frameworks, including FSCA requirements and FICA, takes precedence over any conflicting obligations.

2. Client Representations and Warranties

The Client represents and warrants that:

1. All information and documents provided are true, complete, and accurate;
2. Funds deposited originate from lawful sources;
3. The Client is not acting on behalf of undisclosed third parties;
4. The Client will promptly notify the Company of any material changes in relevant information.

Misrepresentation or failure to provide required information constitutes a material breach of the Client Agreement.

3. Account Approval and Transaction Restrictions

The Company does not accept cash deposits or disburse cash. The Company may refuse, block, or delay transactions if there are reasonable grounds to suspect money laundering, terrorist financing, fraud, or other criminal activity. Clients will not be notified of any statutory or regulatory reports submitted to authorities regarding suspicious activity.

The Company may refuse to open an account, restrict transactions, or terminate the Client relationship if:

• Valid identification is not provided;
• Documents cannot be verified;
• Requested documentation is refused;
• Circumstances increase risk of money laundering or terrorist financing.

4. Regulatory Disclosure

The Client authorizes the Company to disclose Client information, account data, and transaction history to the Financial Sector Conduct Authority (FSCA), the Financial Intelligence Centre (FIC), or other relevant law enforcement authorities as required by South African law. The Company is not liable for any loss arising from such disclosures.

5.  Limitation of Liability and Indemnity

The Company is not liable for losses, delays, or damages resulting from:

1. AML/CTF or FICA investigations;
2. Transaction blocking or freezing;
3. Account suspension or termination;
4. Regulatory reporting or sanctions compliance.

The Client agrees to indemnify the Company against any losses, claims, or expenses arising from the Client’s breach of this Agreement, FSCA regulations, or applicable AML/CTF laws.

6. Amendments

The Company may amend or update this Agreement at any time to reflect changes in FSCA regulations or business operations. Amendments become effective upon publication on the Company’s website or notice to the Client. Continued use of the Company’s services constitutes acceptance of amendments.

7. Governing Law and Jurisdiction

This Agreement is governed by the laws of the Republic of South Africa, as specified in the Client Agreement. Any disputes shall be subject to the exclusive jurisdiction of the South African courts or the designated dispute resolution forums specified therein.