1. THE LOYALTY SCHEME: This scheme is offered by Spread Co Limited (“Spread Co”) in accordance with the scheme Terms and Conditions (the “Scheme Terms”) to existing and new clients of Spread Co (“You” or “Your”) (the “Scheme”).
2. BINDING AGREEMENT: You agree that by participating in the Scheme, You will be bound by the Scheme Terms as well as the Spread Co terms of business that apply to Your Account (“Spread Co Terms”). In the event of any conflicts or inconsistency between Spread Co Terms and these Scheme Terms, Spread Co Terms shall prevail.
3. ELIGIBILITY: To be eligible to take part in the Scheme, You must:
3.1. hold a live GBP, USD or EUR SPREAD BETTING account with Spread Co (“Account”); and
3.2. be over eighteen years of age;
3.3. not be categorised as anything other than a Retail Client of Spread Co and/or any of the affiliates of this company
3.4. be a UK resident
3.5. hold at least the minimum account valuation, less any margin requirements, as specified in clause 5.1
4. DURATION: The scheme starts on 28/07/2018
5. HOW TO PARTICIPATE: All GBP, USD and EUR spread betting accounts are automatically enrolled onto the scheme, so there is no requirement for You to register or apply.
5.1. The minimum account valuation, less any margin requirement, that must be held on the account to earn interest is:
- GBP 10,000 for GBP accounts; or
- USD 10,000 for USD accounts; or
- EUR 10,000 for EUR accounts.
5.2. If your account valuation less margin requirement falls below this level, you will not earn interest for that period.
5.3. The maximum amount eligible for interest is:
- GBP 20,000 for GBP accounts; or
- USD 20,000 for USD accounts; or
- EUR 20,000 for EUR accounts.
6. PAYMENT OF INTEREST:
6.1. You, satisfying the eligibility criteria in clause 3, will earn 2% per annum, or any other amount of interest to be determined by Spread Co in its sole and absolute discretion.
6.2. Interest on the account valuation, less any margin requirement, is paid monthly, on the first business day after month’s end.
6.3. The 2% per annum interest is paid out based on the daily account valuation, less any margin requirement, on your account. Interest will not be payable on any notional credits or any bonus amounts. The interest amount payable is calculated daily and paid monthly, with interest paid for each day the Account was open and eligible to receive interest.
6.4. The Account must be open and not subject to any dispute or default on the date the interest falls due to Your Account.
7.1. To the maximum extent permitted by law, You indemnify and agree to keep indemnified Spread Co at all times from and against any liability, claims, demands, losses, damages, costs and expenses resulting from any act, default or omission by You and/or a breach of any representation and warranty by You set forth herein. To the maximum extent permitted by law, You indemnify and agree to keep indemnified Spread Co at all times from and against any liability, actions, claims, demands, losses, damages, costs and expenses for or in respect of which Spread Co will or may become liable by reason of or related or incidental to any act, default or omission by You under these Scheme Terms including without limitation resulting from or in relation to any breach, non-observance, act or omission whether negligent or otherwise, pursuant to these Scheme Terms by You. To the maximum extent permitted by law, You agree to hold Spread Co, its directors, officers, employees and assigns harmless for any injury or damage caused or claimed to be caused by Your participation in the Scheme.
7.2. To the extent permitted by law, your rights to litigate, to seek injunctive relief or to any other recourse to judicial or any other procedure in case of disputes or claims resulting from or in connection with this Scheme are hereby excluded, and You expressly waive any and all such rights.
8. GENERAL CONDITIONS:
8.1. Interest payments are transferable to other Spread Co Accounts.
8.2. The scheme is limited to one account per customer and one account per household. Multiple account holders will have to nominate the account they wish to receive interest on, and any changes will be effective in the next calendar month.
8.3. Spread Co reserves the right to refuse any Qualifying Person from participating in this scheme, where they are believed to be in breach of the Scheme Terms and/or Spread Co Terms. In the event that such Qualifying Person or a non-Qualifying Person (the “Unauthorised Participant”) takes part in the scheme, Spread Co reserves the right, without prejudice to any other rights under the Scheme Terms and/or Spread Co Terms, to immediately withdraw the Account from the Scheme and/or demand the immediate return of the aggregate interest payments which will be deemed a debt lawfully owed by the Unauthorised Participant to Spread Co.
8.4. Spread Co reserves the right at its sole discretion to alter, amend, modify, suspend or terminate this Scheme, or any aspect of it without prior notice. In such event, Spread Co will make reasonable efforts to notify You by email.
8.5. If the Scheme cannot be executed as planned, including any problems or technical malfunction beyond our control, we shall incur no liability and the interest will not be paid.
8.6. All former and current employees, interns and contractors of Spread Co (the “Staff”), and each of its affiliates and subsidiaries and the Staff’s immediate family members and persons with whom such employees are domiciled are prohibited from participating in the Scheme.
8.7. Qualifying Persons are solely responsible for the payment of any and all taxes.
8.8. If any provision(s) of these Scheme Terms is held to be invalid or unenforceable, all remaining provisions hereof will remain in full force and effect.
8.9. Unless the context otherwise requires, references to any gender include all genders and use of the singular includes the plural and vice versa.
8.11. This Scheme is subject to a fair use policy, and consequently, we have the right to withhold interest otherwise payable under the Scheme when we have reasonable belief that the Scheme is being abused in any way. This includes, but is not limited to, co-operation, collusion or any such acts/omissions that have the impact of causing the Scheme to be abused. In such situations, Spread Co reserves the right, without prejudice to any other rights under the Scheme Terms and/or Spread Co Terms, to immediately withdraw the Account from the Scheme and/or demand the immediate return of the aggregate interest payments which will be deemed a debt lawfully owed by You to Spread Co.
9. GOVERNING LAW AND VENUE: The validity, construction and performance of the Terms and Conditions shall be governed by and interpreted in accordance with the laws of England and parties hereby submit irrevocably to the exclusive jurisdiction of the English courts.