Business IBKR Template

Business IBKR Template

This General Business Agreement (the Agreement) is entered into as of effective date: by and between the parties identified below.

Parties

Recitals

WHEREAS, Service Provider provides introducing, advisory and administrative services related to execution and clearing arrangements on the IBKR trading and clearing platform, and has expertise in onboarding, compliance coordination, and account servicing for institutional and business clients; and

WHEREAS, Client desires to engage Service Provider to perform certain services in connection with Client's business relationship with the IBKR platform and related brokerage or clearing arrangements, and Service Provider is willing to provide such services on the terms and conditions set forth in this Agreement; and

WHEREAS, the parties intend to set forth herein the scope, compensation, confidentiality and other terms governing their relationship.

Scope of Work

Service Provider shall perform the services described below and any additional services agreed in writing by the parties. Service Provider shall exercise commercially reasonable efforts and will comply with applicable laws, rules and the operational procedures of any clearing or brokerage platform when performing services on behalf of Client.

Payment Terms

Client shall pay Service Provider the fees set forth below in consideration for the services rendered. All fees are payable in the currency specified on the applicable invoice and are exclusive of any taxes which shall be paid by Client where applicable.

Invoices are due within the payment term set forth in the Payment Schedule. Overdue amounts shall accrue interest at the rate specified above or, if no rate is specified, at the lesser of 1.5% per month or the maximum rate permitted by applicable law. Client shall also reimburse Service Provider for reasonable collection costs and attorneys' fees incurred to collect overdue amounts.

Term and Termination

This Agreement shall commence on the Commencement Date and continue until the Expiration Date unless earlier terminated in accordance with this Section. Commencement Date: ; Expiration Date:

Either party may terminate this Agreement for convenience upon written notice to the other party given at least days prior to the effective date of termination. Either party may terminate immediately for material breach by the other party if such breach is not cured within thirty (30) days after written notice specifying the breach. Termination shall not relieve Client of its obligation to pay fees for services performed through the effective date of termination.

Confidentiality

Each party acknowledges that during the term of this Agreement it may have access to Confidential Information of the other party. “Confidential Information” means non-public information that is designated as confidential or that reasonably should be understood to be confidential. Each party shall: (a) protect Confidential Information using at least the same degree of care it uses to protect its own confidential information but no less than a reasonable degree of care; (b) use Confidential Information solely to perform its obligations under this Agreement; and (c) not disclose Confidential Information to any third party except to its employees, agents, advisors or subcontractors who have a need to know and who are bound by confidentiality obligations no less protective than those contained herein. Confidential Information shall not include information that is or becomes publicly known other than by breach of this Agreement, that was rightfully in the receiving party’s possession prior to disclosure, or that is independently developed by the receiving party without reference to the disclosing party’s Confidential Information.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state of without regard to conflict of law principles. The parties submit to the exclusive jurisdiction of the courts located in that state for disputes arising under or in connection with this Agreement.

Representations and Warranties

Each party represents and warrants that it has full power and authority to enter into this Agreement and to perform its obligations hereunder, and that the execution, delivery and performance of this Agreement will not violate any applicable law or contract to which it is a party.

Entire Agreement

This Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral, relating to such subject matter. Any amendment or modification of this Agreement must be in writing and signed by authorized representatives of both parties.

Notices

Notices under this Agreement shall be in writing and delivered to the addresses set forth below, and shall be deemed given when delivered personally, sent by confirmed overnight courier, or three (3) business days after deposit in the mail, postage prepaid.

The parties acknowledge that the terms of this Agreement are the result of negotiation and that any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply.

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