1.2 In the definitions included in this article (1) the singular shall be deemed to include the plural and vice versa.
2.1 These Terms and Conditions apply to all legal relationships between Systems2follow and Client. Systems2follow declares these Terms and Conditions applicable to any offer from Systems2follow to Customer and, whether or not resulting therefrom, Agreements entered into by these parties with each other.
2.2 These Terms and Conditions also apply to all agreements with Systems2follow, the implementation of which requires the involvement of third parties.
2.3 Systems2follow has the right to unilaterally amend these Terms and Conditions during the term of a current agreement with Client. Such amendments shall apply from the time Systems2follow has declared the new version applicable in writing and sent it to the Client.
2.4 The applicability of any purchasing or other conditions of Client is expressly rejected.
2.5 In case these General Terms and Conditions and the Agreement contain contradictions, the terms contained in the Agreement shall prevail.
2.6 If one or more provisions of these general terms and conditions are void or destroyed, the remaining provisions of these general terms and conditions remain in full force. Systems2follow and Customer shall then consult to agree on new provisions to replace the invalid or void provisions, whereby if and insofar as possible the purpose and intent of the original provision are observed.
3.1 Through the platform of Systems2follow Client can subscribe to a Trading System of his choice. Once Client has paid the subscription fee, he/she will receive a right to use the Software during the subscription period.
3.2 Logged in to the platform of the Software, Client can connect himself/herself to the Trading System of his/her choice. Client hereby grants permission for the Trades resulting from the chosen Trading System to be automatically copied and executed on his/her trading account with the Broker.
3.3 The Software only works if the Client has an investment account with the Broker. If the Client has taken out a Subscription to a Trading System, the Client must therefore see to it himself that the account is actually opened. Restitution of subscription fees is not possible.
3.4 It may happen that Systems2follow has to switch affiliated Broker, for example because the Broker stops offering the relevant services. In this case, Systems2follow will look for a comparable broker as soon as possible to continue the Subscription. During the period when orders cannot be executed, the Subscription will be frozen. This means that open positions are maintained, but temporarily no new Trading Signals can come in. The subscription will be renewed free of charge for the duration of this period.
3.5 If Client uses our services to provide investment orders, he/she provides those orders to the Broker and not to us. We only offer Client the possibility to use our services as a tool.
3.6 If a Trader decides to discontinue his/her Trading System due to personal reasons, health, poor results or if Systems2follow decides to stop offering the Trading System because it no longer works or no longer produces results, Systems2follow will offer a suitable alternative. Refund of the subscription fee is not possible. The remaining subscription term can be used by the subscriber to follow the alternative system, or the subscriber can choose to pause the subscription term and re-join at a later time.
4.1 By taking out a subscription and using our services, the Client declares that he/she is 18 years or older and will not use the Subscription to invest funds professionally. If the Customer does so, he/she shall be in default by operation of law and shall forfeit to Systems2follow for each violation an immediately payable penalty of € 10,000, - per violation, as well as a penalty equal to € 1,000, - for each day that the violation continues, after notification of its discovery by Systems2follow, without prejudice to the right of Systems2follow to claim full compensation instead.
4.2 Client has full control over his/her securities account with the Broker and is therefore logically responsible for it at all times.
4.3 Client must ensure that he/she has sufficient funds in his/her account to follow the Trading Signals. For each Trading System it is clearly indicated how much money must be available in order to participate. Insufficient funds available may result in Trades not being able to be executed on his/her trading account. Not having sufficient funds in the account may cause Client to miss out on returns. This is at his/her own expense and risk.
4.4 The Client should ensure that the Trading Permissions are set so that the Trades of the trader are authorized in his/her account. Example: if a Trading System trades in 'futures America', then a Client must ensure that he/she has permission on his/her trading account to trade in 'futures America'. These trading permissions can be set up on the securities account with the Broker himself.
4.5 Client is free to link with and disconnect from the Trading System to which he/she has a subscription during the subscription period. Disconnection does not entitle Client to renew the subscription period.
4.6 The Client may disconnect at any time during the subscription period at its own discretion. The Client must indicate this via the Software in accordance with the instructions in the Software manual. Intervening means that he/she can close positions taken, or stop new positions himself/herself. This allows the Client to keep full control over his/her trading account.
4.7 If a Client no longer wishes to use Trading Signals, he/she can pause or deregister. Unsubscribing or pausing does not entitle the Client to a refund of the subscription fee. Should there be a profit fee, it will be calculated based on the High-Water Mark principle. If Client stops tracking early then this will be at his own expense. If a Client does not pay the profit fee invoice within 14 days, he/she will automatically be put on pause until payment is received.
4.8 The Client is not permitted to make his/her login details available to others or to provide them with access to the Services.
5.1 Client already gives Systems2follow the right in advance, without needing the express consent of Client, to transfer all or parts of the Agreement.
6.1 The Agreement between Systems2follow and Customer is entered into for a definite period, unless the content, nature or scope of the Agreement indicates otherwise or the parties expressly agree otherwise in writing.
6.2 The Subscription starts at the time the Customer has paid the price for the Subscription, unless a different start date is explicitly agreed upon.
6.3 If the Client no longer wishes to use the Trade Signals, he/she can deregister/ pause the Trade Signals on the platform of the Software. This will not affect the (continued) subscription and the subscription price due.
7.1 The costs of a Subscription for each Trading System are stated on the Website. For concluded Subscriptions the first payment is due in advance. Any price increases of the Trading System will only apply to the Agreement as of (automatic) renewal or as of the conclusion of a new Agreement.
7.2 The subscription costs may be fixed and/or variable, depending on the choice of the Trading System. Variable costs consist of a profit fee, which is calculated on a High-Water Mark principle.
7.3 The profit fee is calculated by Systems2follow on a monthly basis on the first day of each calendar month according to the High-Water Mark principle. Here the profit realized since the last calculation is taken into account. If a profit has been achieved, the Client receives an invoice and/or request for payment. The Client is obliged to pay this invoice within the payment period specified in Article 8. Upon termination of the Subscription, the profit fee on the termination date will be pro-rated based on the profit realized since the last calculation, regardless of the size of that profit.
7.4 The amounts stated in the Agreement and the Website are exclusive of any fees incurred by Client with the Broker. The agreement between Client and the Broker is separate from the Agreement.
8.1 Payment of the invoice sent by Systems2follow must be made, without deduction, discount or set-off, within 14 days of the invoice date. Payment must also be made in Dutch currency by deposit in favor of a bank account designated by Systems2follow. Objections to costs due do not suspend the payment obligation of Client.
8.2 If Client fails to pay within the set period, then the Client is legally, without further notice, in default. The Client shall then owe statutory interest, or statutory commercial interest (for commercial transactions). The interest on the amount due and payable shall be calculated from the day the Client is in default until the day of payment in full.
8.3 The subscription fee is payable in advance over the agreed subscription period.
8.4 Systems2follow is entitled in the first place to the payments made by Client to reduce the costs, then to reduce the interest cases and finally to reduce the principal and accrued interest. Systems2follow may, without thereby being in default, refuse an offer of payment if the Client designates a different sequence of attribution.
8.5 Systems2follow can refuse full repayment of the principal if this does not include the cases and accrued interest and costs.
9.1 If the Customer is a consumer and after the expiration of the first payment period has not or not fully complied with the payment obligation, Systems2follow sends a written reminder to the Customer for payment of the outstanding amount and the statutory interest thereon within a second period of 14 days, giving notice of the extrajudicial collection costs according to the scale of extrajudicial collection costs (BIK). If the Customer has not or not fully complied with the payment obligation within the second term, the extrajudicial collection costs shall be due, as well as the statutory interest on the extrajudicial costs from the day they are due.
9.2 If Client is not a consumer and has not or not fully complied with the payment obligation after the expiry of the first payment period, as mentioned in article 8 paragraph 1, the actual extrajudicial collection costs, as well as the legal interest on the extrajudicial costs from the day they are due, are due.
9.3 Systems2follow sends a written summons to Client for payment of the outstanding amount, the interest due on the outstanding amount, the extrajudicial collection costs and the statutory interest thereon. This shall be done within the deadline of 7 days.
9.4 If after expiration of the deadline Customer has not or not fully complied with its payment obligation, Systems2follow will be able to bring a legal claim against Customer. All judicial and / or execution costs incurred by Systems2follow as a result of the non-compliance by the Customer will then also be borne by the Customer.
10.1 The Agreement entered into for a definite period cannot be terminated prematurely by Customer. The Client may terminate the Subscription for a definite period with due observance of a notice period of 14 days before the end of the agreed subscription period.
10.2 If Client is not a consumer, the following applies: after the expiry of the agreed subscription period, the Subscription will be automatically renewed for the same period at the then current subscription price for the same product, unless Client cancels the Subscription subject to a notice period of 14 days before the expiry of the agreed subscription period.
10.3 If Client is a consumer, the following applies: after expiry of the agreed subscription period, the Subscription will be automatically renewed for an indefinite period of time at the then current subscription price for the same product, unless Client cancels the Subscription subject to a notice period of 14 days before expiry of the agreed subscription period. After renewal, the Client may terminate the Subscription at any time subject to a notice period of 14 days. If the Client validly terminates the Subscription before the end of the payment period, the subscription fee already paid will be refunded for the remaining payment period from the end date of the Subscription.
10.4 Termination of a Subscription can be done electronically (via an unambiguous e-mail to info@systems2follow.com) or by post. Hereby, the moment of receipt of the notice is considered the moment against which the termination is made.
10.5 Systems2follow is entitled to terminate a Subscription subject to the same notice period that applies to the Client in question.
10.6 If the Subscription is terminated by Client without observing the notice period, Systems2follow is entitled to 100% of the subscription price over the subscription period.
10.7 By entering into the Agreement, the Client expressly agrees to an ongoing subscription, which will be automatically renewed after the initial period in accordance with the preceding paragraphs. Systems2follow will notify the Client at least fourteen (14) days prior to the renewal date by email of the impending renewal and the then current subscription price.
10.8 If the Client has provided a direct debit authorization, Systems2follow is entitled to automatically debit the fees due. Should this direct debit fail or be reversed, the Client is obliged to pay the amounts due within the period specified in article 8 .
11.1 Systems2follow is authorized to suspend the fulfillment of the obligations with immediate effect, without obligation to any compensation, or to dissolve the Agreement, if:
11.2 If the Agreement is dissolved, the claims of Systems2follow on the Customer are due immediately. If Systems2follow suspends the fulfillment of its obligations, Systems2follow retains its claims under the law and Agreement.
11.3 Systems2follow always retains the right to claim damages.
12.1 Systems2follow accepts no liability for any damages suffered by Customer or third parties, such as lost profits or losses, in any way or on any basis whatsoever, arising from the use (or inability to use), reliance on or actions taken as a result of use of our services.
12.2 If the above exclusion of liability has no effect, then this liability is limited to what is regulated in this provision.
12.3 Systems2follow is not liable for damages of any kind, where Systems2follow is based on any incorrect and / or incomplete information provided by the Customer, unless such inaccuracy or incompleteness should have been known to Systems2follow.
12.4 Damage means only: damage to persons, damage to property and direct property damage. Systems2follow is never liable for indirect damages, including but not limited to: consequential damages, lost profits, lost savings and damage due to business stagnation.
12.5 Systems2follow has at all times the right to prevent or reduce as far as possible the damage suffered or to be suffered by Customer.
12.6 The liability of Systems2follow is in any case limited to a maximum of twice the invoice amount of the relevant Agreement, at least that part of the Agreement to which the liability relates.
12.7 The exclusions and/or limitations of liability for damages included in these Terms and Conditions do not apply if the damage is due to intentional or equivalent gross negligence of Systems2follow or its subordinates.
12.8 The Client waives the right to hold persons or legal entities, employed by or affiliated with Systems2follow, liable for breach of contract or tort. The limitations of liability laid down in these General Terms and Conditions are also stipulated for the benefit of persons or third parties engaged by Systems2follow, who therefore have a direct claim to these limitations of liability as a result.
13.1 Parties are not obliged to fulfill any obligations if they are hindered as a result of a circumstance that is not due to debt, nor under the law, a legal act or generally accepted for their account.
13.2 Force majeure in these terms and conditions means, in addition to what is understood in the law and jurisprudence, all external causes, foreseen or unforeseen, which Systems2follow can not influence, but which Systems2follow is unable to fulfill its obligations, such as a failure.
13.3 Systems2follow also has the right to invoke force majeure if the circumstance preventing (further) fulfillment occurs after Systems2follow should have fulfilled its obligations.
13.4 During the period of force majeure, the parties may suspend the obligations under the Agreement. If this period lasts longer than two months, each party is entitled to terminate the Agreement, without obligation to pay damages to the other party.
14.1 Within the framework of the Agreement it is necessary for Systems2follow to process personal data of the Customer, such as name, e-mail address, telephone number and IBAN number. We handle the personal data of Customers with care. We do so in compliance with the General Data Protection Regulation (AVG).
14.2 Systems2follow informs Client as soon as possible about the discovery of a data breach involving personal data of Client. Systems2follow will then keep Client informed of new developments surrounding the data breach.
14.3 When the Agreement between Systems2follow and the Client ends, Systems2follow will return to the Client and/or destroy the personal data it has processed in the performance of the Agreement, unless a legal retention obligation prevents this.
15.1 All intellectual property rights shall remain with Systems2follow. Nothing in the Agreement or these Terms is intended to transfer any intellectual property rights to Client. Customer only obtains a limited right to use our services.
15.2 All products/services provided by (or through) Systems2follow are intended exclusively for use by Client and may not be reproduced, published, exploited or disclosed to third parties by him/her without the prior written permission of Systems2follow, unless the nature of the documents provided otherwise implies. If the Customer does so without prior written consent, he / she is legally in default and he / she will forfeit to Systems2follow for each violation an immediately payable penalty of € 10,000, - per violation, and a penalty equal to € 1,000, - for each day that the violation, after notification of its discovery by Systems2follow, continues, without prejudice to the right of Systems2follow instead to claim full compensation (including lost profits).
16.1 Investing involves costs and risks. Client may lose (part of) his/her deposit. The use of our services is entirely at the expense and risk of the Client. Past performance is no guarantee for the future.
16.2 Systems2follow is a software company that provides solutions in the field of financial information. Systems2follow is not a financial services or investment firm and doesnot provide financial advice. We are not supervised by the Financial Markets Authority (AFM) and are not subject to licensing. The Brokers linked to our platform are of course supervised by the relevant authorities.
16.3 Systems2follow is not responsible for the quality / practices of the Trader. Communications from us or third parties such as Traders do not contain investment advice on the purchase or sale of securities. These communications are always intended to be general in nature and are not tailored to the personal situation of Client. It is up to the Client to decide whether and how he/she wants to use notices or Trading Signals. Client is solely responsible for his/her choice of Trading System.
16.4 The information on the Website and in the Software is compiled with care, but it remains human work. Systems2follow is not liable for obvious clerical errors.
16.5 Systems2follow will do everything within its power to keep its services and the Software always available online and to avoid errors, but can not be held liable for damages resulting from any defects in it. This is because the Software is highly dependent on third parties. Systems2follow will try to remedy any defects as soon as possible.
16.6 If warranted, we may - at our discretion - develop the services we offer. In particular, we are entitled to make updates and modify or remove Trading Systems from our platform. We will communicate changes affecting the use by Client. Systems2follow shall not be liable for any resulting (indirect) damages and such changes to the Services shall not entitle Client to terminate the Agreement.
16.7 Systems2follow is not responsible for the correct, timely and complete transmission of the content of any e-mail or other messages sent, nor for the timely receipt thereof.
17.1 If Customer is a consumer and the Agreement is subject to the right of withdrawal, Customer may within a period of 14 days after the conclusion of the Agreement without giving any reason to revoke the Agreement concluded with Systems2follow.
17.2 To exercise the right of withdrawal, Customer must notify us of the decision to withdraw from the Agreement by an unambiguous statement (e.g. in writing by mail or e-mail). Customer can use the model withdrawal form available on our Website for this purpose, but is not obliged to do so. Our contact details can be found by Client on the Website and in these general terms and conditions.
18.1 Unless otherwise provided in these Terms and Conditions, claims and other powers of Customer, on any basis whatsoever, against Systems2follow in connection with the performance of work by Systems2follow expire at least 1 year after the time when Customer became aware or could reasonably be aware of the existence of these rights and powers.
19.1 Systems2follow contact details: