The Summary in this column explains the terms of this Agreement in layman terms. The Summary is not legally binding. You should read and understand the terms of this Agreement which governs our relationship with you. In the event of any conflict between the provisions of the Agreement and the Summary, the Agreement will prevail.
means the SquirrelSave account set up for you pursuant to this Agreement;
has the meaning ascribed to it in clause 17 of this Agreement;
means all applicable local or foreign laws, applicable statutes, rules, acts, regulations, subsidiary legislation notices, notifications, circulars, by-laws, policies, orders, licence conditions, directions, requests, requirements, guidelines, directives, codes, information papers, practice notes, demands, guidance and/or decisions of any national, state or local government, any agency, exchange, regulatory or self- regulatory body, law enforcement body, court, central bank or tax revenue authority or any other authority whether in Singapore or elsewhere, whether having the force of law or not, as may be amended from time to time;
means all monies, cash, securities, or other financial instruments or products, and other properties, including all your Investments held with us or through us;
has the meaning as defined in clause 5 of this Agreement;
means a day, other than a Saturday or Sunday or Public Holiday, on which we are open for business (from 9am to 5pm Singapore time), and in the context of Instructions and Transactions involving a foreign element, a day, other than a Saturday or Sunday, when we and the relevant financial markets and institutions in the country concerned are open for business;
“Customer Knowledge Assessment and Financial Needs Analysis”
has the meaning as defined in clause 4.3 of this Agreement;
means the Financial Advisers Act (Chapter 110) of Singapore;
means the financial objective of your investment decision;
means any communication, instruction, order, message data or information received by us through or pursuant to the SquirrelSave System or otherwise referable to your User Access, and any information delivered to us offline by any methods as we may agree;
means any securities or financial instruments which we may purchase or sell on your behalf pursuant to this Agreement;
means Inland Revenue Authority of Singapore;
means the Monetary Authority of Singapore;
has the meaning as defined in the Personal Data Protection Act (2012) of Singapore;
means our policy on the privacy and protection of Personal Data;
means an evaluation of your willingness and ability to take risks for the purpose of determining a suitable investment asset allocation;
means the sub-account of your Account which holds the cash component of your Assets;
means the hardware, software, digital communication links including our online platforms such as our website and/or mobile applications or other relevant instruments operated by us for the purpose of providing you Services pursuant to this Agreement;
means any services provided by us pursuant to this Agreement;
means the Securities and Futures Act (Chapter 289) of Singapore;
means transactions in such Investments carried out on your behalf pursuant to this Agreement;
means any user identification, passwords and other security credentials assigned to you and required to access and use the SquirrelSave System using your Account.
This section explains the meaning of words and expressions used in the Agreement.
If you wish to use our Services, you must give us certain information that we ask of you.
We have the right not to offer you our Services.
Your account must not be used by anyone else. You cannot use it for someone else.
By your use of Services or Account access, you confirm you agree to our terms and conditions.
We will monitor your activities. You will use our Services lawfully and cooperate with requests.
We offer personalized investment management services.
You agree to provide us with information so that we can assess your investment knowledge, experience and other relevant information to ensure that the Services are suitable for you.
You are responsible to ensure that the information you provide are accurate and up-to-date. Else, we have the right to stop offering you our Services.
We may ask you to take certain actions to ensure that it is appropriate for you to use our Services.
We make investment recommendations based on information you provide, and you may accept, change or reject any recommendations.
You agree that any such actions by you means you accept full responsibility should the investments be unsuitable for you.
You agree to allow us to proceed with any changes that we may recommend to your investments based on the latest information we have about you without obtaining further consent from you.
You permit us to take all necessary actions on your behalf such as transactions with respect to any buying or selling of investments in your Account.
You permit us to aggregate sales and purchases of investments that we execute on your behalf with other clients. You accept that there will be variations between the intended proportion of various assets and what is actually achieved.
You agree to remit and hold your monies in a bank account specified by us, together with funds from other clients.
All inward and outward money transfers can only be made with a bank account bearing your name. Else, we may be required by Applicable Law to withhold such monies.
You will bear all costs related to the inward and outward movement of monies from and to your Account.
You agree that we can execute sales and purchases of investments on your behalf through our account held with a broker of our choice.
You agree that we may aggregate sales and/or purchase of similar investments for you with other clients, including the matching of sales and purchases between our clients, with the main aim of lowering transaction costs.
In so doing, you acknowledge that we will do so in good faith and you agree to indemnify us from any outcomes that may not be in your favour.
You accept the risk that our chosen broker(s) may use the investments held by us to satisfy any outstanding claims, which may in turn affect the value and composition of your investments.
You agree that your investments can be held together with our other clients in appropriate and suitable providers, whether in-house or external, and without direct ownership, so long as there is proper attribution and accounting for your share of the investments. However, we shall not be held liable for actions of any such providers, local or overseas, that result in losses to you.
You acknowledge that investments carry many risks.
You agree that these investments may suffer capital loss, and all indicated past returns have no certainty that they will continue into the future.
You accept that our investment decisions may not produce intended results, and we are not liable for any losses that may arise in your investments.
You must pay fees and charges specified at www.squirrelsave.com.sg.
Any taxes or lawful charges are payable by you.
You permit us to deduct any outstanding fees and charges before remitting any proceeds to you.
You confirm that you are the proper, lawful and ultimate beneficiary of this Account.
You acknowledge that we do not provide any tax or legal advice.
You agree that we may take all necessary actions in compliance with the laws of Singapore, even if such actions may be detrimental to you.
You agree that we have the right to ask all necessary information for us to provide our Services in accordance with applicable laws, professional and/or compliance requirements.
You give us full authorisation to do the actions listed in para 14.1 (a) to (c).
We will send you reports via your registered email and you may view your records via our website.
You agree to inform us of any errors or omissions within 14 days. Thereafter, we have the sole discretionary right to consider the details as confirmed without further change.
An overseas-listed investment product* is subject to the laws and regulations of the jurisdiction it is listed in. Before you trade in an overseas-listed investment product or authorise someone else to trade for you, you should be aware of:
These and other risks may affect the value of your investment. You should not invest in the product if you do not understand or are not comfortable with such risks.
*An “overseas-listed investment product” in this statement refers to a capital markets product that is listed for quotation or quoted only on overseas securities exchange(s) or overseas futures exchange(s) (collectively referred to as “overseas exchanges”).
You acknowledge that you have received a copy of the Risk Warning Statement and understand its contents.
Last updated on 12 April 2019.