The framework that governs a client relationship. Specific services are governed by the documentation you sign for them; where the two differ, the signed documentation prevails.
These terms apply to services provided by R.R. Verantis as a branch of ENOR SECURITIES, S.A. de C.V., to the extent each service is authorised in the relevant jurisdiction. They are supplemented by the account agreement, the standing mandate, and any product documentation.
You are classified at onboarding as a professional, institutional or otherwise eligible client. Your classification determines which products you may access and the protections that apply. You must tell us if anything changes that classification.
We are required to verify identity, beneficial ownership, tax residence, source of wealth and source of funds before providing services, and to keep that information current. We may decline, suspend or terminate a relationship where we are unable to satisfy these requirements, and we are not always permitted to explain why.
We act on instructions from authorised signatories notified to us in writing. Instructions above the limits you set require a second signature. We may refuse or delay an instruction where compliance, sanctions or legal review requires it.
Client assets are held in accordance with applicable law and segregated from our own assets. Where a third-party custodian, sub-custodian, exchange or settlement system is used, it is disclosed to you, and our liability for its acts is limited to our own negligence in selecting and monitoring it.
Multi-currency holding, conversion and settlement are effected through the network maintained by ENOR SECURITIES, and the legal mechanism differs by region. In the United States, settlement is effected through a trustee arrangement with [ trustee to be confirmed ], under which assets are held by the trustee for the benefit of the client. In Europe, settlement is effected through correspondent banking accounts held with [ correspondent institution to be confirmed ]. Other regions are served through the correspondent or trustee arrangement disclosed to you for that route.
These are legally distinct mechanisms. Under a trustee arrangement the trustee holds legal title and the client holds beneficial interest; under a correspondent arrangement funds sit in an account of ENOR SECURITIES at the correspondent institution. Which mechanism applies to a given transaction is disclosed to you before it settles, and on the contract note. The network determines which currencies and routes are available at any given time; availability can change and a route may be suspended without notice for reasons outside our control, including correspondent or trustee policy, sanctions screening, or closure of a local market.
We take reasonable steps to obtain the best result available to us on the relevant venues, taking into account price, cost, speed, likelihood of execution and settlement, and size. Venues, brokers and counterparties used are named on your contract note.
All fees, spreads and third-party costs applicable to you are set out in your fee schedule before any service is provided. Where we receive any payment from a third party in connection with your business, it is disclosed to you.
We maintain a conflicts policy and a register. Where a strategy, structure or counterparty is affiliated with us or with ENOR SECURITIES, the nature of that affiliation and any resulting conflict is disclosed in writing before you commit. Where a conflict cannot be managed, we decline the business.
You receive periodic statements, contract notes for each transaction, and consolidated performance and risk reporting. You should check them and tell us promptly of any discrepancy.
Write to your relationship manager first. If the matter is not resolved, escalate to compliance at the address in the footer, and thereafter to the Superintendencia del Sistema Financiero of El Salvador.
Either party may terminate on written notice. On termination we will transfer or realise assets on your instruction, subject to settlement of outstanding obligations and to any legal or regulatory restriction. Record-keeping obligations survive termination.
Tell us what you hold today and what you want it to do. A partner reads it and replies personally, usually within two business days.