Client Agreement
Last updated on 22nd of April 2024.
1. Introduction
This Client Agreement (“Agreement”) is entered into between LYBT Capital (referred to as “LYBT Capital”, “LYBT”, “we”, “us”, or “our”) and you (referred to as “client”, “you”, or “your”).
The Agreement constitutes a legally binding document that delineates our obligations to you and your obligations to us. It comprehensively addresses important issues that may arise between you and us.
The Agreement becomes effective on the date (“Effective Date”) when you consent to its terms by submitting a correctly filled account opening form. We reserve the right to modify, rescind existing provisions, or add new provisions to this Agreement.
By continuing to use your account or not closing it, you accept the terms of the revised Agreement and are legally bound by all its terms and conditions, including any new or modified terms or conditions.
2. Appointment as Investment Manager
Client hereby engages LYBT Capital, and we agree to provide investment management services (“services”) concerning client assets held in their LYBT Capital investment account, in accordance with the terms and conditions outlined below.
3. Investment Discretion:
LYBT Capital will offer services on a discretionary basis. This implies that we will act as your agent and are not obligated to provide advance notice or seek your consent for any investment activities conducted with the assets in your account. LYBT Capital is authorized to utilize client capital in day trading by engaging in future contracts held for less than 24 hours. LYBT Capital also has the authority to employ assets in your account for overnight collateralized lending. We will monitor your account continuously and conduct periodic reviews.
4. Custody of Assets:
Your assets are stored in cold storage accounts managed by a qualified custodian selected by LYBT Capital (“Custodian”). Ledger serves as the custodian for all our assets under management.
5. Accuracy of Account Information
You warrant and represent that:
You have reached the age of majority.
You have provided accurate information in your account opening form.
Additionally, you agree to promptly notify us in writing of any significant changes in the information provided on the account opening form. Specifically, you agree to notify us if there are significant alterations to the net worth, income level, or employment status listed on the account opening form.
6. Confidential Relationship
Information received from you will be kept confidential in accordance with applicable laws and our privacy policy, which you acknowledge receiving. All information or advice provided by us to you shall be treated as confidential.
7. Fees
LYBT Capital charges a performance fee of 20% on profits earned on your invested capital.
8. Dividend & Interest
Client agrees to retain all investment returns at the custodian. If not withdrawn, these returns will be reinvested into your account on the first week of each calendar month. Investment returns will not be automatically disbursed to the client unless requested as a withdrawal.
8.1 Deposits
Client agrees to conduct all deposits to its investment account via USDT. A minimum deposit amount of $1,000 applies at all times, and no fees are charged for deposits into your investment account.
8.2 Withdrawals
Client agrees to execute all withdrawals from its investment account via USDT. A minimum withdrawal amount of $100 applies at all times, and no fees are charged for withdrawals from your investment account. At our discretion, enhanced due diligence may be requested for withdrawals exceeding a certain amount. Enhanced due diligence involves an advanced KYC process for further risk investigations, designed to handle high-risk clients and larger transactions.
8.3 Lock-up Period
To promote sustainable practices, we implement a 3-month lock-up period on newly funded investment accounts. This means a new client can initiate withdrawals 3 months after the initial deposit.
9. Consent to Electronic Communications
Client consents to the electronic delivery of required disclosure documents and other communications by LYBT Capital. Information will be transmitted via interactive website, email, in text, PDF, HTML, or other formats that can be readily viewed, printed, and saved. Client acknowledges potential costs associated with electronic delivery, such as computer equipment and internet access charges.
10. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the British Virgin Islands.
11. Venue
Any disputes, claims, or controversies arising from this Agreement or otherwise between you and LYBT Capital shall be resolved through arbitration in accordance with the rules of the British Virgin Islands International Arbitration Centre. The arbitration shall be final and binding, with judgment on the award enforceable in any court having jurisdiction. By agreeing to arbitration, you waive the right to seek remedies in court.
12. Severability
If any provision of this Agreement becomes inconsistent with present or future laws, rules, or regulations, it shall be rescinded or modified accordingly. The Agreement shall otherwise remain in full force and effect.
13. Termination
You may close your LYBT Capital account at any time by providing notice. We reserve the right to close your account or terminate any or all services under the account agreement at our discretion and for any reason. Account closure or service termination will not affect our obligations prior to closure or termination.
14. Notifications
All notifications for LYBT Capital shall be sent to legal@lybtcapital.com. Client notifications will be sent to the email address on record. You are responsible for updating LYBT Capital of any changes in your email address.
15. Communications about Your Account
Your primary point of contact for account inquiries is your client service manager, reachable via email at clientservice@lybtcapital.com.
16. Trusted Contact Person and Temporary Holds on Your Account
A Trusted Contact Person ("TCP") is someone you designate whom we may contact if we suspect you may be subject to financial exploitation or if we have concerns about your well-being. Designating a TCP is optional and solely your decision.
By electing a TCP, you authorize LYBT Capital to contact the TCP at our discretion and disclose any relevant information about your account to address potential financial exploitation or confirm your current contact information, mental and physical health status, or the identity of any legal representative. You may change or remove your TCP at any time by providing written notice. A TCP is not authorized to make investment decisions or withdraw funds from your account.
You authorize us to place temporary holds on fund disbursements or transactions if we suspect financial exploitation or in other circumstances deemed necessary for your protection. We may also report suspected financial exploitation or other circumstances necessary for your protection to law enforcement agencies.
17. Separability
If any term of this Agreement is found to be invalid or unenforceable, all other provisions shall remain in full force.
18. No Legal or Tax Advice
LYBT Capital does not provide legal or tax advice. While we may offer general tax and estate planning information and principles, these do not apply to your specific circumstances. You agree to consult your own tax or legal advisor for personalized assistance.