The USER hereby expressly states the acceptance of the Terms and Conditions for Use of Software named "Institutional Custody Services" (all versions), of which the company (based in Panama) INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. is its unique creator and developer. Access to and use of the credentials and applications, as well as any functionality of this platform is subject to the acceptance of the following Terms and Conditions. In case of discrepancy between the text in english and any other language of these Terms and Conditions shall prevail the document in english.
INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. reserves the right to modify these Terms and Conditions in its sole discretion and at any time without prior advisor.
USERS may know any changes to these Terms and Conditions through the publication that will be made in advance on our website. Using the platform after any change means the express acceptance by the User of the new Terms and Conditions.
The Software Named "Institutional Custody Services" is a Viewer Portfolio which allows a USER to log in with your User, Password and a Virtual Token sent to your email, it can perform the following operations: Review your portfolio, account statements, generate orders to Transfers Assets and Funds.
Unauthorized use by the USER will be grounds for immediate deactivation. The conditions of use of the software are detailed in these terms and conditions.
This information is structured based on the vision of the owner of the system and its accuracy will directly depend on the external sources that supply the information to the system. Any action that is taken through the system will be effective through the human interaction of the administrator / custodian of the portfolio. The system will reflect only these actions.
The reports will be available 24 hours a day, 7 days a week and can be downloaded at any time. Except for certain periods of time that the system must be offline for periodic testing of stability and security. All reports will have monthly cuts; your data will not be accurate because they are tied to the variability of the market at the time.
The developer recommends using Linux, Windows XP SP1 or higher or Mac OS X operating systems and browsers such as Chrome version 50 or higher, Firefox version 46 or higher and Safari 9.1 or higher.
The system is used freely and voluntarily by the USER who acknowledges that no computer system is perfect and therefore this software is also likely to fail, so renounces claim INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. or its associates any compensation for misuse or bad operation of the software. Its expressly stated that for the proper functioning of the application USER hardware must meet certain technical requirements (stability internet connection and minimum hardware and software) which are the sole responsibility of the user is allowed to provide.
INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. can periodically change the information contained in the platform without prior notice. Under no circumstances shall be liable for losses, damages and / or damages that may allegedly arise from the use of the platform. Users must use this platform under their own risk. INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. or its affiliates will never be liable for damages and / or losses even if they could have been warned, and also will not be liable for any loss or damage that may arise or relate to the use or failure of the platform, even in cases arising from inappropriate, improper or fraudulent use. The platform makes no warranties of any kind regarding any computer virus infection or any other program that can affect the operation of computers or systems.
The use of the platform and its systems and applications by the USER implies his acceptance and the obligation to compensate INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. or personal or associated for any action, claim, damage, loss and / or expense (including attorney’s fees) arising out of such use.
The USER acknowledges that whenever actions are taken by the system, they involve the prior interaction by the Administrator or Custodian of the portfolio, these actions will become effective within the next working hours, so that he waives his right to present any claims against INSTITUTIONAL CUSTODY SERVICES (ICS) SA or its employees or associated with implementation delays.
Any discrepancy in the information that the USER enters in the system will be under his sole responsibility therefore also waiver of any claim against INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. for errors or type o´s in the system operation.
INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. reserves the right to legally operation to stop any infringement or violation of these Terms and Conditions.
INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. reserves the exclusive right to terminate or limit the access to any USER to the system (which involves turning off the system) for the infringement or breach of these Terms and Conditions.
INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. will make its best efforts to prevent that through this system are performed illegal actions that are contrary to these Terms and Conditions. However, if the USER believe that any information contained on the platform or materials could be infringing their rights of himself or third parties, including, without limitation, intellectual property rights, he should contact INSTITUTIONAL CUSTODY SERVICES (ICS) S.A. sending a detailed description of the alleged violation to the following address: Beatriz M. de Cabal, Proconsa Building, 8th Floor.
All content, trademarks, logos, drawings, documentation, software or any other element of that can be protected by the intellectual property law, which are accessible or shown on the Software belong exclusively to the company or its legitimate owners and all their rights are expressly reserved and registered. Creating hypertext links (links) to any component of the web pages of the Portal without the authorization of the company is expressly prohibited.
In any case, the company has reserved all rights on the content, information and data services shown there. The company does not grant any license or authorization to use to the USER about its contents, data or services, other than what´s expressly detailed in the general conditions of use of the system.
In case of any dispute arising from this contract, first, it shall be settled by mediation, if a mediation agreement is not reached, the parties submit to the decision of an Arbitral Tribunal in Panama City. The Arbitral Tribunal shall consist of a referee who will rule in law, in a period not exceeding thirty non-extendable days since its declaration of competence; will also have the power to implement precautionary measures. The parties may not modify its claim, counterclaim or defense to any of them. Once the claim or counterclaim answered the Director of the Arbitration Center not summon the parties to the mediation and specify the day and time for the draw the match referee and his alternate. Once drawn the arbitrators, and within the same diligence, will be notified of their appointment by any means, in order to gain their acceptance or, if not accept the position, perform the new draw immediately, following the same procedure notification. The arbitration will be confidential and will be held in the english language.
The applicable law is the Law of the Republic of Panama.