ONLINE APPLICATION
Please make sure that you have a printer attached before you proceed.
1) Complete the BPI Trade Online Application Form.
    Please fill out all the required information (marked with asterisks) to ensure that your application is properly processed.
2) Download FATCA Questionnaire below and fill out the required details.
3) For US Persons, please download and fill out IRS Form W-9 below.
4) For Non US Persons with US Indicia (i.e. US. Place of Birth, US Resident/Mailing Address, US Telephone Number, Standing instruction to transfer funds to an account maintained in the US,
and/or Power of Attorney or Signatory Authority granted to a person with US Address; or “in care of” or “hold mail” address), please download and fill out IRS Form W-8BEN below.
5) Print the following BPI Trade Account Opening Forms.
6) Bring BPI Trade Account Opening Forms, original and photocopy of valid and unexpired IDs, and other documents required by FATCA to your BPI or BPI Family Bank Branch. Please note that you have to be an existing BPI or BPI Family
Bank account holder to register with our online trading facility.
7) Acceptable proof of identification are:
8) For clients within the Philippines :
9) For clients outside the Philippines :
10) To check the status of your BPI Trade account opening request, you may send an e-mail at bpitradeapplications@bpi.com.ph, or you may call us at 845-5617, 816-9724, or 816-9192 during Mondays to Fridays between 8:30AM to 5:30 PM.
 
*** DISCLAIMER ***
The brokerage services of BPI Securities Corporation are offered only where permitted. The services offered in this site are not intended to, and do not, constitute a solicitation of an offer to Buy or Sell securities in jurisdictions where such is not allowed. It is the responsibility of prospective investors who wish to trade with BPI Securities Corporation through its website to observe all securities laws and regulations of their relevant jurisdiction. The securities or services available in the website of BPI Securities Corporation are not being offered to persons residing in the United States.
GENERAL TERMS AND CONDITIONS
I understand that BPI Securities Corporation shall be acting as my Broker in connection with my trading activities. I hereby consent and agree to the terms and conditions of BPI Securities Corporation acting as my Broker, as stated below.
General Terms and Conditions
1. Definitions
"Access Code" means my/our User ID and Password.
"Agreement" means this agreement between myself, BPI Securities Corporation, the Online Equities Terms and Conditions, the Account Opening Form, and all other documents related thereto or executed pursuant to this agreement and the opening of my Account, as may be amended or supplemented from time to time.
"BPI" means the Bank of the Philippine Islands, a universal banking corporation organized and existing under the laws of the Philippines.
"BPI Sec" means BPI Securities Corporation, a corporation engaged in securities brokerage, organized and existing under the laws of the Philippines, by BPI Capital Corporation.
"BPI Direct Savings Bank" means the virtual savings bank wholly owned by the Bank of the Philippine Islands.
"BPI Family Savings Bank" means the savings bank wholly owned by the Bank of the Philippine Islands.
"BPI Trade Bank Account" means the bank account with BPI Direct Savings Bank which a Cash Client is required to open and maintain, in connection with his securities transactions pursuant to this Agreement, with the terms and conditions stated in paragraph 19 hereof.
"Cash Client" means a new client of BPI Securities Corporation and more specifically described in paragraph 17 hereof.
"Confirmation Notice" means the Purchase and/or Sales Confirmation Notice, as the context may require.
"Online Trading Service" means the service offered by BPI Securities Corporation allowing me to give orders for the purchase or sale of securities through the internet, or such other services which BPI Securities Corporation may later make available through the facility of the internet.
"PDIC" means the Philippine Deposit Insurance Corporation.
"Password" means my/our personal identification used in conjunction with my/our User ID.
"Php" means the Philippine Peso, the lawful currency of the Philippines.
"Purchase Confirmation Notice" means the document denominated by BPI Securities Corporation as such.
"Sales Confirmation Notice" means the document denominated by BPI Securities Corporation as such.
"SEC" means the Philippine Securities and Exchange Commission.
"Securities" means stocks, shares and other equity instruments, including warrants, options, related contracts, and other similar instruments or by a body corporate and which is listed in the PSE, except such instruments as BPI Securities Corporation are disallowed to buy or sell in under Philippine laws, rules and regulations.
"Securities Account" means my securities trading account opened and maintained by me with BPI Securities Corporation for purposes of effecting my securities transactions through BPI Securities Corporation.
"Services" means the brokerage services, the Internet trading services and such other services as BPI Securities Corporation may provide from time to time.
"Settlement Account" means for Cash Client, the BPI Trade Bank Account with BPI Direct Savings Bank which I/we am/are required to open and maintain, and into which the proceeds of my/our transactions with BPI Securities Corporation will be credited or debited; and for Trading Line Client, the bank account with BPI/BPI Family Bank/BPI Direct designated by me/us, into which the proceeds of my/our transactions with BPI Securities Corporation will be credited or debited.
"Beneficiary Account" means for Cash Client, the bank account with BPI/BPI Family/BPI Direct designated by me/us unto which amounts I/we will withdraw from my/our BPI Trade Bank Account will be credited.
"Trading Line" means the trading limit granted to me/us by BPI Securities Corporation, in its sole discretion, which allows me to purchase Securities on credit, subject to the provisions of paragraph 18 hereof.
"Trading Line Client" means the existing clients of BPI Securities Corporation who have previously been granted a Trading Line and more specifically described in paragraph 18 hereof.
"User ID" means my/our personal identification used in conjunction with my/our Password.
2. Interpretation. The headings in this Agreement are inserted for convenience only and shall not limit or affect the interpretation of the provisions hereof. Unless the context otherwise requires, (i) the provisions of this Agreement shall apply to both Cash and Trading Line Clients, (ii) words denoting the singular number shall include the plural and vice versa, and (iii) words denoting persons shall include individuals, corporations, partnerships, joint ventures, trusts, unincorporated organizations and any political subdivision, agency or instrumentality.
3. Warranty Of Information. I/We represent and warrant that all information provided by me/us pursuant to this Agreement, including the Account Opening Form, is true, complete and accurate. In case of any change in said information, I/we shall inform BPI Sec immediately. I/We also authorize BPI Sec to conduct such credit or background checks to verify any information provided by me, and to ascertain my/our financial situation and investment objectives. Finally, any and all injuries that any of my counterparties in this Agreement may suffer by virtue of any false and/or incomplete information I have given herein shall automatically make me liable either by compensation, reimbursement, or any other legal mode to satisfy my counterparties herein.
4. Legal Right. I/We hereby represent and warrant that I/we are of legal age and have full power to execute, deliver, and perform this Agreement and all necessary actions have been taken to authorize the execution, delivery, and performance and enforcement of the same.
5. Compliance With Orders And Processes. BPI Sec shall comply with all laws, writs or judicial or administrative orders, processes or regulations without obligation to confirm or question the legality or constitutionality of such order, process or regulation. In the case of orders and processes, BPI Sec shall be authorized to act on the basis of documents or copies which purport and which BPI Sec, at its discretion, believe to be genuine without any duty to ascertain their authenticity.
Where BPI Sec are of the opinion that BPI Sec will be subjected to any claim or demand for taxes, or be required to comply with any law, order, process or regulation, BPI Sec may withhold payment of any sums due to me until BPI Sec shall have received an order or a satisfactory ruling from administrative authorities or from the courts which would allow the release thereof under circumstances which in their opinion forecloses the possibility of liability attaching to BPI Sec. For this purpose, BPI Sec may, for my/our account, seek the assistance of any lawyer, accountant or other experts.
6. Governing Law. The Agreement and deposits and withdrawals of Securities pursuant hereto, shall be governed by and are subject to the laws of, and applicable rules and regulations in effect from time to time, in the Republic of the Philippines.
7. Failure/Delay in Exercise of Your Right, etc. No failure or delay on your part in exercising any right, power or remedy upon my/our breach or default of any provisions of this Agreement shall impair any right, power or remedy, nor shall it be construed as a waiver of any breach or default thereafter occurring nor shall any single or partial exercise of any such right or power preclude any further exercise thereof or the exercise of any other right or power hereunder, at law or otherwise.
8. Binding Effect Assignment. This Agreement shall be binding on me/us and BPI Sec and their respective successors and assigns except that the benefit and burden of this Agreement is personal to me/us and shall not be assigned by me/us to any other third person.
9. No Insurance or Guarantee. Securities are neither bank deposits nor PDIC-insured. These securities are not obligations of, nor are they, individually or collectively, guaranteed by BPI Sec, and are, therefore, subject to investment risks, including possible loss of the principal amount invested.
10. Special Power of Attorney. In every case provided or necessary in this Agreement, I/we hereby appoint BPI Sec, their officers, employees, successors-in-interest and/or assigns, as well as any sub-agent, broker or attorney-in-fact BPI Sec may appoint for those purposes, as my/our attorney-in-fact, with full power and authority to sign, execute and deliver such contracts, receipts or other documents, or otherwise perform other related acts for and in my/our behalf, including without limitation, the opening of a BPI Trade Bank Account (if applicable).
11. Severability. In case any one or more of the provisions of this Agreement is invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired.
12. Force Majeure. I/We agree that BPI Sec, their directors, officers, employees and other representatives will not be liable for any delay or failure to perform any obligation on their part, or for any losses caused directly or indirectly by any condition or circumstance over which BPI Sec, their directors, officers, employees and other representatives over which they do not have or, otherwise, exercise control, including but not limited to government restriction, exchange or market rulings, suspension of trading, failure of electronic or mechanical equipment or communication lines, telephone or other interconnection problems, unauthorized access, theft, war (whether declared or not), severe weather, earthquakes and strikes.
13. Notices. It is agreed that all communications relating to or in connection with this Agreement, whether by mail, internet, telegram, telephone, facsimile, electronic mail, messenger or otherwise, sent to me at the address appearing in their records shall constitute personal delivery to me; and that, in the event of my/our failure to notify BPI Sec in writing of any change in address, all communications shall be directed to my/our last known address appearing in their records. It is further agreed that all communications to such indicated address shall be conclusive on me as to their correctness, in the absence of any written objection from me within the applicable period. I/We shall notify BPI Sec in writing of any change in my/our address, residency, status or other information indicated in this Agreement.
14. Effectivity. This Agreement shall take effect upon the date of signing, as indicated below, and shall continue to be in full force and effect until terminated by me, or BPI Sec by giving the other at least fifteen (15) days prior written notice of termination.
15. Means of Obtaining Payment. BPI Sec shall have the discretion to resort to any other means of obtaining payment of any amount due without affecting any of their rights herein. BPI Sec may without notice to me/us set off or transfer any sum(s) from my/our Settlement Account and/or BPI Trade Bank Account with BPI Sec or their parent company, BPI or any of their subsidiaries or affiliates, in satisfaction of any or all of my/our liabilities to BPI Sec, BPI or any of their subsidiaries or affiliates. All remedies either under this Agreement or by law or otherwise afforded to BPI Sec shall be cumulative and not alternative.
16. Automatic Trading Restriction or Cancellation of Account. I/We understand and agree that BPI Sec have the sole discretion to restrict trading on my/our Account or to cancel the same, at any time and without need of prior notice to me.
17. Cash Clients - I/We understand that Cash Client accounts are for new clients of BPI Sec who apply for the BPI Trade online trading facility. I/We understand and agree that a Cash Client will be allowed to purchase Equities up to the Available Cash balance in his BPI Trade Bank Account. I/we also understand that all incoming cash into a Cash Client's account (e.g. sale proceeds, cash dividends, maturities, etc.) shall be credited to his BPI Trade Bank Account.
18. Trading Line Clients - I/We understand that Trading Line Client accounts are for existing clients or BPI Sec who apply for the BPI Trade online trading facility. I/We understand and agree that a Trading Line Client will be allowed to purchase Equities on credit.
In its absolute discretion, BPI Sec may effect my/our purchase instructions even if on credit, but in such case, I/we undertake to deposit the necessary amounts into my/our Settlement Account not later than three days after the date (T+3) of the purchase, or such earlier period, as may be designated by BPI Sec.
19. I/We also understand and agree that BPI Sec has the absolute right to refuse my/our application for a BPI Trade account or to terminate, reject, or decline the same for whatever reason(s) it may deem appropriate, without any obligation to divulge and/or explain the said reason(s) to me/us.
20. I/We hereby waive my/our rights under existing laws to the confidentiality of bank deposits with regard to our Settlement Account.
21. BPI Trade Bank Account Terms and Conditions.
a. I/We understand that as a prerequisite to my/our opening a Cash Client Securities Account with BPI Sec, I/we must open a BPI Trade Bank Account under the terms and conditions required in connection therewith. I/We understand that the following features will be applicable to my/our BPI Trade Bank Account:
    i. Regular savings account with BPI Direct Savings Bank;
    ii. Automatic teller machine capability not allowed;
    iii. BPI Express Phone banking capability not allowed;
    iv. Average daily balance requirement based on the prevailing ADB requirement (visit www.bpidirect.com for details).
    v. Balance to earn interest based on the prevailing rate (To view current Deposit Account Rates for Regular Savings Account please visit BPI Direct website at www.bpidirect.com);
    vi. Over-the-counter deposits allowed;
    vii. Over-the-counter withdrawals not allowed;
and such other features as I/we will be or have been informed will not be available with a BPI Trade Bank Account. I/We understand and agree that I/we will not be able to make withdrawals from my/our BPI Trade Bank Account, except in accordance with paragraph 19(d) below.
b. For the purpose of effecting this prerequisite, I/we hereby appoint BPI Sec, their officers, employees, successors-in-interest and/or assigns, as well as any sub-agent, broker or attorney-in-fact BPI Sec may appoint for those purposes, as my/our attorney-in-fact, with full power and authority to sign, execute and deliver such agreements, contracts, receipts or other documents, or otherwise perform other related acts for and in my/our behalf. I/We hereby represent and warrant that my/our specimen signature card(s) were personally signed by me/us, and the signature(s) appearing thereon, are my/our true and authentic signatures. I/We fully understand and agree to the terms and conditions of the BPI Trade Bank Account, including the unavailability of certain features of a regular bank account, all of which I/we acknowledge to have been fully disclosed to me. I/We hereby waive my/our rights under existing laws to the confidentiality of bank deposits with regard to my BPI Trade Bank Account.
c. The depositor's name(s) in my/our BPI Trade Bank Account must coincide with my/our BPI Sec Account name(s).
d. I/We understand and agree that I/we will not be able to make withdrawals from my/our BPI Trade Bank Account, except in accordance with the withdrawal procedure provided by BPI Sec (for withdrawal procedure, refer to FAQs) . I/We also understand and agree that my/our BPI Trade Bank Account is intended to secure my/our Securities Account with BPI Sec, and is earmarked to pay for my/our obligations to BPI Sec in connection with my/our said Securities Account. For purposes of effecting the withdrawal procedure as aforesaid, I/we hereby authorize and empower BPI Sec, their officers, employees, successors-in-interest and/or assigns, as well as any sub-agent, broker or attorney-in-fact BPI Sec may appoint for those purposes, as my/our attorney-in-fact for the purpose (without limitation) of withdrawing from my/our BPI Trade Bank Account, with full power and authority to sign, execute the bank withdrawal, or such other agreements, contracts, receipts or other documents, or otherwise perform other related acts for and in my/our behalf in connection with such withdrawal.
e. I/We hereby authorize BPI Sec to automatically debit my/our BPI Trade Bank Account as and when I/we purchase Securities through BPI Sec, or whenever I/we have any other amounts owing to BPI Sec, in such amounts as may be necessary to fully settle my/our account(s) with BPI Sec, including without limitation the purchase price for Securities purchased by me/us, commissions, taxes and other applicable fees, costs, levies or duties.
22. I/We understand that BPI Sec will provide me/us with Account statements (in such form as BPI Sec may determine) regarding my/our Securities Account. My failure to inform BPI Sec of any error in my/our Securities Account statement within fifteen (15) days from my/our receipt thereof shall constitute an admission by me/us of the correctness of all matters stated therein.
23. For Joint accounts:
a. I/We agree that if I/we hold this Securities Account jointly with another individual or individuals, this Securities Account shall be construed and legally treated as an "AND/OR" Securities Account.
    (i) For "AND / OR" Securities Account, each Joint Account holder have the right to bind the others to give instructions, orders, consents or authorizations, or to sign or execute alone any written instrument required by BPI Sec regarding the Securities Account. Provided, however, that instructions to add a new Account holder an original Account holder should be signed by ALL the Account holders. If BPI Sec, prior to acting on instructions, written or otherwise, received from any of us, receives contradictory instructions, written or otherwise, from another Joint Account holder, BPI Sec shall thereafter exercise its option to act only on the written instructions of all of us. In such cases, BPI Sec reserves the right to freeze the Securities Account and file any necessary action, including but not limited to, interpleader suits. Each of us agrees to hold BPI Sec free and harmless against any suit, loss, damage or liability which BPI Sec may incur as a result of the instructions given in the manner stated above. Furthermore, I/we agree that any liability arising hereunder shall be my/our joint and several liability with my/our Joint Account holders.
    (ii) Upon the death of any one of us, I/we understand that the "AND/OR" Securities Account shall become the sole and absolute property of the surviving Account holder(s), subject to such applicable provisions / requirements of law including, among others, payment of taxes, and any claims / debts which the BPI / BPI Sec or any heir or third party may have. I/We shall inform BPI Sec of the demise of my/our Joint Account holder(s) within 24 hours there from and to deliver and execute such documents as may be necessary to regularize my/our Securities Account. If the surviving Account holders fail to give such written notice of death and withdrawals from the Securities Account are made before receipt of said notice, it is deemed that the surviving Accountholders have exercised the right of survivorship.
b. I/We hereby represent that the Joint "AND/OR" Securities Account is owned in equal parts by all Joint Account holders, unless we otherwise advise BPI Sec jointly and in writing.
24. Online Trading Services:
a. I/We agree to use the Online Trading Service only in accordance with the terms of this Agreement.
b. I/We agree that I/we shall be the only user authorized to use the Online Trading Service under this Agreement. As such, I/we will be responsible for the confidentiality and use of the Password. I/We will be responsible for all instructions entered through the Online Trading Service using my/our Password.
c. I/We acknowledge that the Online Trading Service and your website (including the software and other contents thereof) are proprietary to BPI Sec. I/We warrant and undertake that I/we shall not nor shall I/we attempt to, tamper with, modify, decompile, reverse engineer or otherwise alter in any way, or attempt to gain unauthorized access to, any part of the Online Trading Service or website or any of the contents thereof. I/We also undertake to immediately notify BPI Sec if I/we become aware of any actions described above being perpetrated by another person or entity.
d. I/We agree that, as a condition of using BPI Sec Online Trading Service, I/we shall notify BPI Sec within twenty-four (24) hours if: (i) I/We placed an instruction through the Online Trading Service and I/we do not receive an accurate acknowledgment (in any acceptable form) of my/our instruction or its execution; (ii) I/We receive acknowledgment (in any acceptable form) of a transaction which I/we did not instruct or any similar occurrence; (iii) I/We become aware of any unauthorized use of my/our Access Code. I/We acknowledge and agree that If I/we fail to immediately notify BPI Sec when any of the above situation occurs, neither BPI Sec, their directors, officers, employees nor other representatives will have any liability to me/us, or to any other person whose claim arises from me/us.
25. Change in Address and Other Information. I/We shall promptly notify BPI Sec in writing, of any changes in my/our address, residency status or other information indicated in this Agreement. All communications whether by mail, internet, electronic mail, telegraph, telephone, messenger, or otherwise sent to my/our aforementioned address and following my/our instructions (if any) appearing on the face of this Agreement shall constitute personal delivery to me/us. Following this, all such communications sent thereto, except the Statement of Account shall be deemed correct, if BPI Sec shall not receive any objections from me/us within twenty-four (24) hours from delivery thereof.
26. Indemnity. I/We shall hold BPI Sec and their respective Board of Directors, officers, and staff free and harmless from any liability, obligation, loss, damage, penalty, claim, suit, action, judgment, expense or disbursement of whatever nature which I/we may suffer arising out of this Agreement or any sale, transfer, or assignment of Securities covered by the same, or the enforcement of any of the terms hereof, except to the extent caused by the willful misconduct or gross negligence of BPI Sec.
27. Attorney's Fees and Litigation Expenses. In the event of any controversy or litigation arising herein, I/we shall compensate BPI Sec for attorney's fees at the rate of ten percent (10%) of the purchase price of the Securities sold/purchased but no less than Php 20,000.00 plus reasonable litigation expenses. Venue of action for any litigation shall be in the proper courts of Makati City. The foregoing, however, shall not limit the right of BPI Sec to commence any action or proceeding in any venue or jurisdiction where my/our assets may be found.
28. Amendment. BPI Sec has the right to change any of the foregoing terms and conditions by giving written notice thereof. Such changes shall become effective and binding upon me/us in the event I/we do not object or reply to such notice within ten (10) days from service of notice in accordance hereof.
I/We acknowledge that I/we have read the provisions hereof and I/we are satisfied that they accurately reflect our intent and agreement. Consequently, I/we hereby hold BPI Sec free and harmless from any and all liabilities, obligations, losses, damages, penalties, actions, judgments, costs, suits, expenses, or disbursement of any kind and nature whatsoever which I/we may incur or sustain in any way relating to or arising out of this Agreement or the transaction contemplated hereby or the enforcement of any of the terms hereof.
ONLINE EQUITIES TRADING TERMS AND CONDITIONS
Brokerage Services
1. The Securities shall be held or disposed by BPI Sec in accordance with the terms and conditions of this Agreement and any other agreement between us relating to the Securities, or in the absence thereof, at their discretion, provided that BPI Sec shall have the right to retain the Securities which are deemed pledged hereunder or in which BPI Sec have any security interest until full payment of what may be due to BPI Sec by reason of this Agreement or otherwise. In case of any claims made upon the Securities by any third person, BPI Sec shall notify me of such claims and, at its discretion and without liability on its part, return the same or resort to the courts to interplead.
2. I/We agree that BPI Sec shall lodge the Securities which I/we purchase in the PCD. Absent my/our contrary written instructions, Securities purchased by me/us shall be registered in BPI Sec's name ("street form"). Provided that I/we have fully paid for the shares I/we purchased, I/we may instruct BPI Sec in writing to arrange for the issuance of the stock certificate in my/our name. All costs incidental to or arising from such issuance, such as but not limited to PCD charges, shall be borne by me/us. The issuance of the instrument shall be subject to the regular course of clearing.
3. I/We hereby agree that all of my/our Securities and/or any other kind of property (tangible or intangible) in my/our Account or Trading Account or which may hereafter come into your possession, custody or control for any purpose, or in the possession, custody or control of members of the BPI Unibank (including without limitation Bank of the Philippine Islands, BPI Family Bank, BPI Direct Savings Bank, BPI Capital Corporation, BPI Leasing Corporation), secure my/our liability to BPI Sec hereunder, and in their absolute discretion and without need of any notice to me, I/we hereby authorize and empower BPI Sec to apply my/our said property in payment of any of my/our obligations to BPI Sec or to any member of the BPI Unibank without thereby incurring any liability except to account for any security or proceeds thereof actually received.
4. I/We hereby irrevocably appoint and constitute BPI Sec, its officers, employees, successors-in-interest and/or assigns, as well as any sub-agent, broker or attorney-in-fact BPI Sec may appoint for those purposes, as my/our true and lawful attorney with full power and authority to buy, sell, lend or borrow Securities or otherwise act for me or any of my/our Account(s) (whether carried individually or jointly with others), to agree upon the price of said Securities, execute bills of sale, receipts, assignments of all rights, title and interest to the purchaser(s) thereof, or such other instruments in writing or documents as may be necessary and to deliver or accept delivery of the corresponding stock certificates, to open for and in my/our name such bank accounts as may be necessary under this Agreement under such terms and conditions as may be called for hereunder, and/or to do any other act(s) which BPI Sec may directly or indirectly do or cause to be done in accordance with the powers herein conferred all of which are hereby deemed ratified by me in all respects for this purpose. BPI Sec shall be entitled to rely on any instruments, notices and communications which BPI Sec believe to have originated from me and I/we shall be bound thereby.
5. I/We hereby authorize BPI Sec to accept my/our orders for the purchase or sale of Securities whether made orally (in person, through the telephone or other similar means), in writing (whether sent by messenger, fax, telex, electronic mail, etc.) or through another person. I/we will hold BPI Sec free and harmless from any loss or damage, which may be incurred by BPI Sec or me as a result of their reliance on my/our instructions given as aforestated where BPI Sec acted in good faith.
6. I understand that BPI Trade trading hours shall be governed by the Philippine Stock Exchange official trading hours and orders given by me outside of the usual PSE trading hours shall be queued upon receipt on the PSE trading board and executed in your best discretion.
7. I/We hereby unconditionally and irrevocably (i) authorize BPI Sec, in its absolute discretion, to record or cause the recording using any device which BPI Sec may deem appropriate or advisable including, without limitation, tape recorders and other recording instrument(s), any telephone communication or any communication or spoken word between my/our and any of their officers, employees, agents or representatives in the course of, or in connection with, any transaction or dealing hereunder of which may relate or pertain hereto, and any such recording or any part thereof shall be admissible as evidence in any proceeding and (ii) authorize BPI Sec and their officers, employees, agents or representatives to replay any such recording for any person or persons as BPI Sec shall in their discretion deem fit to communicate the contents thereof, either orally or in writing, or to provide transcriptions thereof, whether in whole or in part, to such other person or persons.
8. Any order by me for the purchase or sale of Securities shall bind BPI Sec only upon its issuance of the Purchase or Sales Confirmation Notice. BPI Sec does not warrant that any order placed by me can be or has been executed unless the Confirmation Notice is issued. The contents of Confirmation Notices sent to my/our address indicated herein shall be deemed conclusive upon me as to their correctness, unless within forty-eight (48) hours from my/our receipt thereof I/we serve my/our written objection upon BPI Sec. Further, I/we agree that the transactions contemplated herein are conditioned on their receipt of good and cleared funds or the instruments evidencing the Securities sold. Hence, notwithstanding issuance of any Confirmation Notice, it is my/our understanding and agreement that the transaction(s) subject of the Confirmation Notice shall be deemed automatically cancelled upon their failure to receive such good and cleared funds. I/We understand that the status of orders appearing on my/our computer screen do not serve as my/our Confirmation Notice.
9. In consideration for the foregoing, I hereby agree to pay BPI Sec (i) commissions at such rates as may be from time to time communicated to me/us, (ii) transfer or settlement fees upon actual transfer of the certificate(s) issued to me/us, (iii) documentary stamp taxes, (iv) the stock transaction taxes, (v) PCD fees and (vi) other levies and duties thereon. The amount due herein shall be delivered in full to you within the same period required under paragraph 10(c) hereof.
10. Instructions to Purchase Securities for Cash Clients
a. All Securities purchase transactions for my/our Securities Account will be in cash and automatically be earmarked versus the available cash balance of my/our BPI Trade Bank Account and debited from my/our BPI Trade Account on settlement date. I/We understand that before BPI Sec actually effect any purchase instructions from me/us, my/our BPI Trade Bank Account must have sufficient funds to cover the amount of the transaction plus the appurtenant commission, fees, taxes, levies and other duties.
b. Payment for my/our purchases, related amounts, and other amounts, which I/we may owe BPI Sec, shall be made from my/our BPI Trade Bank Account. My authorization for BPI Sec to debit my/our BPI Trade Bank Account is stated in paragraph 10.b hereof.
c. I/We hereby agree to pay for my/our purchase on or before three (3) Trading Days after such purchase was made.
d. I/We understand that deposits made by me into my/our BPI Trade Bank Account in the form of a check shall only be available for payment when cleared by the drawee bank.
11. Instructions to Purchase for Trading Line Clients
a. In their absolute discretion, BPI Sec may effect my purchase instructions even if on credit, but in such case, I/we undertake to deposit the necessary amounts into my BPI Trade Bank Account not later than three (3) Trading Days from the date of the purchase or such earlier period as may be designated by BPI Sec.
b. Until full payment of the aforestated amounts, Securities purchased on my behalf shall be registered in the name of BPI Sec (street form) or such other party designated by BPI Sec.
c. In the event my purchases are not liquidated within three (3) Trading Days or in the event of my death or whenever in its sole discretion BPI Sec consider it necessary for its own protection, I/we hereby specially authorize and empower BPI Sec to sell any or all Securities in my Securities Account (whether carried individually or jointly with others) and herein pledge the same as collateral for the payment of any and all of my liabilities to BPI Sec, which Securities are hereby guaranteed to be free from any and all liens and encumbrances, it being expressly understood that in the event that such liens unknown to BPI Sec as Broker prevent subsequent negotiation of the said Securities, BPI Sec may at their sole discretion buy back the sold Securities and collect from me/us whatever amount BPI Sec may be entitled to by reason of such buy back; buy any and all Securities to cover for any short selling in such account; transfer monies or Securities from any one of my/our accounts to another; and close any and all of my outstanding obligations. It is hereby agreed and understood that I/we shall at all times be liable for the payment of all unpaid balances of my Securities Account, if any, together with interest, penalties, commissions, taxes, fees and any other amounts due in connection therewith, as well as for the performance of other acts herein provided, and that I/we shall remain liable for any deficiency remaining in any such account in the event of liquidation.
12. Instructions to Sell
a. All Securities sale transactions for my Securities Account shall not be executed unless BPI Sec already have possession of the shares of stock to be sold or unless BPI Sec receive from me the certificate(s) evidencing said shares, and such shares of stock or certificate(s) are properly lodged with the PCD or pre-cleared with the proper stock transfer office for such share(s)/certificate(s). I/We understand and agree that prior to the effecting of any sale of Securities for me, I/we must deliver the corresponding share(s)/certificate(s) of stock to BPI Sec.
b. The proceeds of the sale of stocks/equity securities shall be net of the sums owing to BPI Sec and shall be delivered to me within three (3) working days from the date of sale or based on the market practice of "T+3", whichever is longer. BPI Sec shall not be bound to deliver such net proceeds unless I/we deliver to BPI Sec the instruments evidencing the Securities sold, properly endorsed, and until any and all amounts which I/we owe BPI Sec have been paid in full.
Custody and Safekeeping Services
13. I/We hereby appoint BPI Sec as Custodian for the safekeeping of my Securities subject to the following terms and conditions.
14. The Securities are deposited by me/us for the purpose herein stated only, and no other. In case of any discrepancy, I/we will notify BPI Sec within fifteen (15) days from receipt of my/our Account Statement. Any later objections are deemed waived by me/us and will not be considered by BPI Sec.
15. When required by BPI Sec, a charge in accordance with BPI Sec's prevailing safekeeping charges will be applied each month or fraction thereof during which the Securities are held.
16. I/We understand that BPI Sec will give the Securities the same degree of physical care that BPI Sec give its own property, but do not assume responsibility beyond that. BPI Sec shall not be liable for any loss or damage to the Securities or impairment in their value except those directly caused by acts amounting to fraud or gross negligence. BPI Sec shall not be responsible for any form of damages or other liability arising from its performance of this Agreement.
17. I/We hereby agree that the Securities purchased by BPI Sec on my/our behalf may be deposited by BPI Sec in the PCD or such other depository of the PSE. I/We agree to be bound by the Rules of the PCD, as may be amended, supplemented or modified from time to time, including: (a) Rule 2.5.2 regarding due authorization by me for you to lodge the Securities into the PCD and my agreement to abide by your instructions to PCD; and (b) Rule 5.3 regarding the limitation of my recovery against the PCD in case of any loss of the Securities, or which I may otherwise suffer due to PCD's fault. For such purpose, I/we hereby appoint BPI Sec as my agent for the sole purpose of dealing with the PCD with respect to the Securities purchased hereby, and to perform such other acts necessary or incidental in the operation of the PCD. I/We agree to hold BPI Sec free and harmless from any and all liability arising from the lodging of the Securities in the PCD except if due to BPI Sec's own fault. BPI Sec shall assist me/us, as far as legally allowable, in facilitating any request for information or filing any complaint or otherwise coordinating with the PCD in connection with the Securities purchased hereby.
18. The Securities will be held in custody at my/our sole risk as regards any laws, decrees, regulations or mandates, fortuitous events, and/or any act of war, warlike operation, seizure, destruction or impairment of property, promulgated and/or done by any government authority.
19. It is agreed that BPI Sec shall have no responsibility for the collection of coupons, interest or dividends on the Securities except as provided by law. BPI Sec also accepts no responsibility for the receipt and/or forwarding of any communication relative to the Securities. BPI Sec shall not be obligated to advance funds in my/our behalf in case of cash calls for stock rights pertaining to my/our shares.
20. All deposits and withdrawals of all, some or any of the Securities made by me/us from the custody of BPI Sec signed by myself, my agent or representative is conclusive evidence of the delivery or withdrawal of the certificates of stock therein specified.
21. BPI Sec has the right to change any of the foregoing terms and conditions by giving written notice thereof. Such changes shall become effective and binding upon me/us in the event I/we do not object or reply to such notice within ten (10) days from service of notice in accordance hereof.
22. The General Terms and Conditions for Online Trading is incorporated by reference herein and made an integral part hereof as if fully set forth herein.
I/We acknowledge that I/we have read the provisions hereof and I/we are satisfied that they accurately reflect our intent and agreement. Consequently, I/we hereby hold BPI Sec free and harmless from any and all liabilities, obligations, losses, damages, penalties, actions, judgments, costs, suits, expenses, or disbursement of any kind and nature whatsoever which I/we may incur or sustain in any way relating to or arising out of this Agreement or the transaction contemplated hereby or the enforcement of any of the terms hereof.