The “Cash Plus” Automatic Redemption Service Agreement (hereinafter referred to as the “Service Agreement”) is a legal contract entered between Moomoo Financial Singapore Pte. Ltd. (hereinafter referred to as “moomoo SG”) and its customers (hereinafter referred to as “you” or “investor” or “customer”) in relation to matters relating to the automatic redemption service of “Cash Plus”. Investors who proceed by clicking “confirm” or “agree” or otherwise choose to accept the service agreement via the moomoo platform page, mean that you and moomoo SG have reached an agreement and agree to accept all the terms and conditions of the service agreement (including revisions and updates from time to time) and related services. The rules, page prompts, operation procedures, announcements and notices and help center related to the agreement and automatic redemption of currency funds that have been published or may be published on the moomoo platform and may be revised and updated from time to time (hereinafter collectively referred to as “this agreement”).
Interpretation
1.1 Terms in this agreement, unless otherwise specified, shall have the same meaning as defined in moomoo SG’s “Client Agreement” (see https://support.futusg.com/topic69 for details) (hereinafter referred to as the “Client Agreement”).
1.2 In this Agreement, unless otherwise specified, the terms have the following meanings:
“Cash Plus Fund Automatic Redemption Service”/“This Service”: means when moomoo SG evaluates and finds that the customer’s account positions hit the trigger condition, the system initiates an application for the customer’s automatic redemption of “Cash Plus”, and the proceeds from the redemption will be sent to the customer’s securities margin account.
“Trigger Condition”: refers to the following situations in the customer’s securities margin account. When the client purchases any product or conducts any transaction, the funds in his account are not sufficient to pay the purchase amount.
“Automatic redemption application”: means that the system initiates a redemption application for “Cash Plus Fund” shares that are equivalent to the amount owed in the customer’s securities margin account from the customer’s fund account (excluding the fund invested by the customer into the fund portfolio).
“Assessment period”: refers to the time at which moomoo SG assesses whether the customer’s securities margin account meets the trigger conditions at the time specified by it from time to time. The specific time is subject to the time announced by moomoo SG on the platform.
“moomoo platform”: refers to the platform or application that moomoo SG provides services or transactions (including this service) to its customers or is clearly identified as moomoo SG on relevant pages to provide services or transactions (including this service) and/or the official website of moomoo SG.
“Unified Purchasing Power”: means that moomoo SG will gather the customer’s assets in different accounts within the moomoo platform, and calculate the maximum purchasing power available to the customer after evaluation, which can support SG stocks, HK stocks, US stocks, A shares, funds, etc. For more information, please refer to the introduction and announcement on the unified purchasing power page in the moomoo platform (which may be revised and updated from time to time).
Terms of Service
2.1 The customer acknowledges and agrees for moomoo SG to assess the customer’s securities margin account at the assessment time. The customer authorizes moomoo SG, if the trigger conditions are met, to initiate an automatic redemption application for the customer, and deposit the proceeds from the redemption into the customer’s securities margin account. The customer also authorizes that moomoo SG will from time to time have the sole discretion to determine its daily assessment time, the order of redemption of funds in the customer’s account and the processing rules for automatic redemption applications (collectively referred to as the “standing authority”).
2.2 The customer understands and agrees that this service constitutes a part of the customer’s unified purchasing power. When the customer clicks to confirm through the moomoo platform page or otherwise chooses to agree to activate the unified purchasing power, it means that the customer agrees to this agreement.
2.3 The standing authorization will continue to be valid until the customer exits/closes the service. The customer’s withdrawal/closure of the service will be deemed to notify moomoo SG to terminate the standing authorization.
2.4 The customer understands that due to the processing of the fund company, market factors or any other factors, the automatic redemption applications may not be fully executed. The customer acknowledges and agrees that if the automatic redemption application is not fully executed, there may be fees/ interest incurred on the customer’s securities margin account, and the customer should pay moomoo SG for the applicable interest and/or fees incurred from the account.
2.5 The customer understands and agrees that the opening and closing of the automatic “Cash Plus” redemption service and other operations and services are subject to the various rules and pages related to the automatic currency fund redemption service published by moomoo SG on the moomoo platform page. Tips, operating procedures, announcements and notices and the legal constraints of the Help Center, and must be strictly followed. Customers can apply to open and close this service. If the customer closes the unified purchasing power, the service will also be closed. Once the service is closed, it will be deemed to terminate this agreement. If the customer has triggered the automatic redemption service before terminating this agreement, all services will continue to be executed until the settlement of the redemption amount of the (batch) fund is completed.
2.6 The customer understands and agrees that moomoo SG shall not be liable for any failure to provide the services of this Agreement due to the abnormal status of your moomoo SG universal account or other designated accounts (including but not limited to cancellation, loss reporting, freezing, etc.).
2.7 The customer confirms that the use of this service is based on your own free will, and you are fully responsible for the authenticity and validity of the instructions issued during the use of this service. All instructions will be regarded as your own free will and cannot be changed or revoked. You undertake that all risks of moomoo SG operating in accordance with your instructions shall be borne by you.
Notification
3.1 Regarding the terms contained in this agreement and the terms of the agreement, notices or other notices about your use of the service recorded on any moomoo platforms, Moomoo SG will notify you electronically or in writing, including but not limited to sending emails based on the email address you have provided, send registered mail according to the address you have provided, publish on moomoo platform or partner websites, or send SMS and other notifications. You should ensure that the above email address, contact address, mobile phone and other contact information are always up to date; if there is any change, you should change it in the way specified in moomoo SG’s Client Agreement. The above notice will be deemed to have been effectively given once it has been transmitted or posted.
Modification of Agreement
4.1 Moomoo SG has the right to revise the rights and obligations related to you in this agreement at any time. Once the revised agreement is delivered, it will take effect immediately, regardless of whether you use the service before or after the revision of the terms takes effect. Services shall be bound by this revised and updated agreement. Moomoo SG will notify you via the methods mentioned in this agreement. If you do not agree to amend this agreement, you should immediately stop using this service. Otherwise, your continued use of this service will be deemed that you have agreed and accepted the revised agreement.
Limitation of Liability
5.1 Moomoo SG assumes no responsibility for any customer or any other person that may arise or suffer as a result of the direct or indirect use of the automatic “Cash Plus” redemption service and/or the processing or execution of your instructions or requests in relation to the automatic “Cash Plus” redemption service on any loss, damage or expense of any kind, unless any such loss, damage or expense is directly and reasonably foreseeable and caused directly and exclusively by the gross negligence or willful misconduct of moomoo SG or a moomoo SG officer, employee or agent.
If the automatic redemption service of currency funds cannot be provided normally due to a force majeure event, moomoo SG shall promptly notify other parties to the agreement and relevant parties and actively take measures to resolve it, but shall not be liable for any compensation arising therefrom. Force majeure events include, but are not limited to, natural disasters (such as typhoons), wars, fires, earthquakes, floods, strikes, government actions, epidemics or epidemics, network failures, system failures, changes in regulatory policies, etc. that cannot be reasonably foreseen, unavoidable and insurmountable natural disasters, social anomalies, technical risks, policy risks, etc.
Governing Law and Jurisdiction
6.1 This Agreement shall be governed by, and construed in all respects in accordance with, the laws of Singapore. Each of the Parties hereto hereby irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of Singapore for all purposes in relation to this Agreement and waives any objection on the ground of venue or forum non conveniens or on similar grounds.
Severability
7.1 If the terms contained in this agreement become illegal, invalid or unenforceable due to changes in applicable laws and regulations, it will not affect the validity of the remaining terms and the normative nature of the terms, and the other terms will continue to be binding and effective.
Terms and Conditions
8.1 Once the other terms or relevant rules on the relevant pages of the automatic “Cash Plus” redemption service are publicized on the moomoo platform, they will constitute an integral part of this ““Cash Plus” Automatic Redemption Service Agreement” and will take legal effect. If you have any objection to the terms or relevant rules contained in this service, you should immediately stop using the automatic “Cash Plus” redemption service. If you continue to use the automatic “Cash Plus” redemption service, you are deemed to have agreed to accept the terms and conditions contained in this service agreement. moomoo SG may change or modify the terms and rules contained in this service from time to time.