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Terms and Conditions

Terms and Conditions London Wolt LP


v15.08.2017

Definitions


In this document the following definitions apply:


Agreement:

the Agreement between the Client and London Wolt on the basis of which the Client will authorise and/or mandate London Wolt to collect the Claim, which is entered into when submitting the Claim by completion of the claim form on the London Wolt’s website www.forexregulator.com;


Broker:

the broker that provided investment services to the client and where client is unable to act with his/her funds, which were transferred to the Broker;


Claim:

the claim with the Broker on behalf of the Client, i.e. the Broker’s existing client or Broker’s ex-client, because of client’s inability for any reason to act (e.g., transfer, withdraw, etc.) with his/her funds, which client transferred to the Broker;

Such Client’s inability may exist for any reason, including but not limited to the following: funds are lost, the Broker is refusing to execute funds transfer order, etc.


Client:

the person who instructs London Wolt, also the client or ex-client of the Broker, i.e., investor, who holds a Claim against the Broker;


Debt Collection Process:

all activities undertaken by London Wolt, the submitting of the Claim with the Broker, the sending of a reminder to the Broker and the sending of a cover letter to the Broker after the enforcement authority's decision, but before the initiation of a Judicial Process, including the composing and sending of letters of default, letters before (court) action and debt collection letters by London Wolt;


Extrajudicial Process:

the composing and sending of letters (of default) as London Wolt sees fit or the collection of the Claim in any other way, including (settlement) negotiations with the Broker and reaching an amicable settlement with the Broker;


Judicial Process:

the legal proceedings initiated for the Claim by and/or on behalf of London Wolt, on their own account or that of the Client, including (but not limited to) the composing of a legal summons and/or the initiation of legal proceedings against the Broker, (settlement) negotiations with the Broker and reaching an amicable settlement with the Broker.


Legal office charge:

is an amount of money a client pays the London Wolt before the London Wolt begins working on the Client’s case. The payment solidifies the fact that the Client and London Wolt are working with one another, and it allows the London Wolt to meet the expenses of running the office, conducting legal research, investigating the Client’s case. Legal office charge may vary depending on the Client’s selected funds recovery plan, i.e., Legal assistant”, “Legal coverage” and “Full scale legal intervention” funds recovery plan.


Legal partners:

From time to time for the processing or/and collection of the Claim London Wolt, when it deems necessary, may cooperate with legal partners, i.e., law firms, professional services and collections firms or agencies or any other firms.


London Wolt:

London Wolt LP, registered under registration number SL029454, located at Suite 1, 44 Main Street, Douglas, Lanarkshire, ML11 0QW, Scotland;


Terms and conditions:

the present Terms and Conditions of London Wolt.



General


1. These terms and conditions are applicable to all agreements reached and entered into between London Wolt and the Client.


2. London Wolt offers several services, i.e., “Legal assistant”, “Legal coverage” and “Full scale legal intervention” funds recovery plan, that aim to assist in the claiming of the legal compensation in the event of a breach of investment services provision regulation of the Client’s residence country or territory and/or breach of Agreement for provision of investment services signed by and between the Client and the Broker.


3. If London Wolt decides to accept/process the Claim, it will make reasonable endeavours to collect the Claim from the Broker.


4. London Wolt will process the Client's (personal) data with care. The processing of the personal data is necessary for the provision of the London Wolt’s services to the Client. The Client hereby gives London Wolt permission for the processing of the personal data supplied by the Client, and for the use thereof in the context of London Wolt's usual operational management under Paragraph 1 and 2 Schedule 2 of the Data Protection Act 1998.


5. The Client gives permission to London Wolt to provide personal data to legal partners when necessary. The Terms and Conditions are also applicable to London Wolt’s legal partners and their actions and endeavours.


6. The Client will be advised of the chances of successful collection of the Claim where possible, by means of notifications in the claim calculator and advice from London Wolt's employees. This advice by London Wolt will be given on a provisional basis; no rights can be derived from this advice. London Wolt will not provide any guarantees about the Claim's success or outcome.


7. In addition to by email, London Wolt may also notify the Client of updates and news about the Claim and the collection by means of notifications and messages under 'Support'. London Wolt will notify the Client of each update or new message regarding the Claim via an email notification. London Wolt cannot be held accountable for any of the results of the Client's failure to (regularly) read notifications and messages placed in the Client's Account and where an email notification has been sent by London Wolt.


8. London Wolt will always be entitled to not accept the Claim for processing with or without providing reasons at its own discretion and/or to cease the collection of the Claim at any moment it sees fit, regardless of whether this occurs during the Extrajudicial Process or the Judicial Process. London Wolt will not be obligated to provide any further effort or service relating to the Claim from that moment on. The Client may terminate the Agreement at any moment it sees fit with providing reasons for the termination. The Client will then be held responsible for reimbursement of the expenses incurred as specified in article 41 of these Terms and Conditions.


9. This Agreement will be effective until the Claim is explicitly closed by London Wolt in writing, the Claim is successfully collected, or the Agreement is prematurely terminated by the Client. In the event the Client terminates the Agreement prematurely, the terms under article 41 will apply.


10. London Wolt shall have the right to transfer and/or assign, at its sole discretion, to a third party, whether or not affiliated with Londond Wolt, all or part of its rights and/or obligations under these Conditions, including without limitation the duties assumed by London Wolt hereunder, and the Client shall be deemed to accept such transfer and/or assignment. 



Termination of the Agreement


11. The Client may terminate the Agreement with London Wolt within 30 calendar days in advance by written notice to the London Wolt without the need to specify any reason(s) for the cancellation. London Wolt may request the client to specify the reason(s) for the cancellation, but may under no circumstance force the Client to inform London Wolt of the reason(s).


12. If the Client exercises the right to withdrawal, London Wolt must be unambiguously notified within the period mentioned in article 10. The burden of proof as to whether and when the right to withdrawal was properly exercised shall rest with the Client.


13. London Wolt shall have the right to terminate this Agreement at any moment by notice to the Client with immediate effect, if:

i)       the Client is late to pay for the provided services for more than twenty (10) days;

ii)      the Client fails to perform its obligations under this Agreement;

iii)    the Client refuses to co-operate with London Wolt (does not provide requested information, cannot be contacted for a long time by any means of communication indicated by the Client and in other cases, if such irresponsible behaviour of the Client poses a risk to carrying out of the assignment and the interests of the Client itself.

iv)    due to other important reasons and in other cases provided for in this Agreement and laws.


14. In other cases London Wolt shall have the right to terminate this Agreement unilaterally by at least a thirty (30) calendar days’ notice to the Client. The Parties to the Agreement shall fulfil all their obligations under this Agreement which have originated before the receipt of a written notice about the termination of the Agreement.


15. This Agreement shall expire if London Wolt has no active (uncompleted) Claims from the Client, and the Client does not provide any new Claims to the Office for a period longer than for 4 (four) months after the day of completion of the last Claim. If a new assignment is submitted after the expiry of the term specified in this paragraph and the London Wolt accepts the assignment, it shall be considered that this Agreement has been renewed and all its terms and conditions shall be valid to their full extent as of the moment London Wolt makes a written confirmation of the acceptance of the assignment and renewal of the Agreement.



Extrajudicial Process


16. The Client authorises and/or mandates London Wolt to collect the Claim in the Extrajudicial Process, and to do all that London Wolt deems to be useful for the collection of the Claim. The authorisation and/or mandate will be issued to London Wolt in a separate agreement or/and Power of Attorney.


17. In the event (a part of) the Claim is collected, the Client will always owe London Wolt a portion of 25% of the total amount collected.



Debt Collection Process


18. The decision of whether a Debt Collection Process will be initiated to collect the Claim will be at the discretion of London Wolt. The decision to start a Debt Collection Process will be made by London Wolt based on the documentation (made) available to London Wolt and the information about the cause of the Client’s lost funds with the Broker (made) available to London Wolt. London Wolt is permitted to refrain from initiating a Debt Collection Process if it believes it not to be expedient for any reason.



Judicial Process


19. The decision of whether a Judicial Process will be initiated to collect the Claim will be at the discretion of London Wolt. The decision to start a Judicial Process will be made by London Wolt based on the documentation (made) available to London Wolt and the information about the cause of the Client’s inability to act with his/her funds with the Broker (made) available to London Wolt. London Wolt is permitted to refrain from initiating a Judicial Process if it believes it not to be expedient for any reason. For the initiation of a Judicial Process by London Wolt (whether or not as a party to the proceedings), the Client will be required to give a separate mandate to London Wolt in which the Client agrees to initiation of the Judicial Process.


20. In the event London Wolt decides to initiate a Judicial Process, the Client mandates London Wolt to proceed to initiate legal proceedings as it sees fit (on London Wolt's own behalf and at its own risk) in order to collect the Claim, by, including but not limited to, the following means: legal proceedings, an amicable settlement or enforceable measures.


21. In the case London Wolt or a subsidiary of London Wolt is not permitted to initiate legal proceedings in the country where the Broker's head or branch office is located, these legal proceedings may if possible be initiated or carried out by a legal partner in the country in question (if needed by subdelegation through the power of attorney from the Client to London Wolt).


22. The Client is permitted to withdraw the instructions to initiate legal proceedings at any time. In that event, any legal expenses incurred will be charged to the Client in addition to the expenses mentioned in Article 41. This also applies to instructions given to London Wolt's legal partners.


23. The initiation of legal proceedings against the Broker is time barred after a period of 1 year. By agreeing with the applicability of the Terms and Conditions, the Client declares to have taken note of this deadline. London Wolt cannot be held accountable for damages resulting from the possible expiration of the Claim, in case the Client fails to provide London Wolt with all required documents in order to pursue the claim (these are: a power of attorney, a copy of an identification document and evidence of send funds to the broker and inability to act with funds because of his/her broker (e.g., copies of funds transfer statement to the Broker, P&L statement, charts), communication with the broker, etc.).



Funds Recovery and Fees


24. The amount billed to the Client and the Client must pay is dependent on the funds recovery plan. If the Client switches to a funds recovery plan which costs more London Wolt will invoice the Client at that time for marginally increased amount. If the Client switches a fuds recovery plan which costs less, London Wolt is not required to refund the amount by which the Client overpaid.


A.   In the case of the “Legal assistant” funds recovery plan, which includes reviewing of the Clients provided information, assistance in collecting of relevant evidence, offer of a recovery strategy and draft of complaint, which is performed by one legal assistant, non-refundable legal office charge is applied in amount of 50 USD (fifty US dollars only).

B.    In the case of the “Legal coverage” funds recovery plan, which includes which includes reviewing of the Clients provided information, collecting of relevant evidence, offer of a recovery strategy, legal opinion on a case, draft and submission of complaints, legal communication with Broker and legal assistance until the Claim is resolved, which is performed by one certified lawyer or attorney at law, non-refundable legal office charge is applied in amount of 200 USD (two hundred US dollars only) and 20% of the total amount collected to the Client.

C.    In case of the “Full scale legal intervention” funds recovery plan, reviewing of the Clients provided information, collecting of relevant evidence, offer of a recovery strategy, legal opinion on a case, draft and submission of complaints, legal communication with Broker, payment processor/bank, draft and submission of complaint to regulators, follow up communication and appellation of initial negative decision (if necessary), and legal assistance until the Claim is resolved, which is performed by two certified lawyers or attorneys at law, non-refundable legal office charge is applied in amount of 500 USD (five hundred US dollars only) and 20% of the total amount collected to the Client.


London Wolt reserves the right to change prices at any time.


25. All funds collected from the Broker after the Agreement has been entered into that relate to the Claim will be regarded as having been collected as a result of London Wolt's efforts and activities, regardless of whether the funds were collected (partly) due to the Client's efforts and activities. London Wolt will always be entitled to 20% of the claimed total with regard to funds received from the Broker, when the Client is with “Legal coverage” or “Full scale legal intervention” funds recovery plan.


26. Payments made directly to the Client by the Broker must be reported to London Wolt immediately and no later than 14 days from the date the payment is received by the Client. In case of failure to comply with this rule, any expenses incurred for the collection of the funds owed to London Wolt by the Client will be charged to the Client.


27. When the Client is with “Legal coverage” or “Full scale legal intervention” funds recovery plan, in case the Claim is (partly) collected, the Client will owe London Wolt 20% of the claimed total with regard to funds received from the Broker. In the event this amount is transferred directly to the Client's bank account by the Broker, London Wolt will charge 20% of the total amount collected to the Client.


28. The Judicial Process will be processed by London Wolt as it sees fit based on “Full scale legal intervention” funds recovery plan basis. No additional expenses will be charged if no form of compensation is collected from the Broker, unless article 41 of these Terms and Conditions applies.


29. All costs, expenses and charges, including legal interest, allowed by the courts that do not fall under the capital sum will go to London Wolt, unless otherwise agreed in writing.



Payment


30. The funds received by London Wolt intended for the Client will be paid to the Client no later than 60 days after the funds and the transfer details are received by London Wolt, provided that these funds can be connected to the Claim with a reference number. Payments to the Client will be made to the bank account or to other account by alternative method (e.g., electronic wallet, payment account or card, etc.) preferred by the Client, according to instruction provided to London Wolt by the Client. London Wolt cannot be held liable for any damages resulting from the provision of erroneous transfer details by the Client. If any foreign bank, payment service provider or system charges an additional fee for the transfer of the funds to the Client's account, these costs will be charged to the Client. London Wolt will deduct this amount from the compensation due.


31. If the Client fails to provide his or her transfer instruction details to London Wolt, the funds intended for the Client will be retained on London Wolt's funds (e.g., bank account, electronic wallet account, etc.) account for the duration of no more than one year after these funds are collected. This year will commence once the Client is informed of the receipt of the funds intended for the Client on the email address provided to London Wolt as the Client's contact email address. London Wolt will make at least three attempts to contact the Client at the email address provided to London Wolt. After this one-year period expires, the total claimed amount will become London Wolt's property.


32. If the Client fails to fulfil any payment owed to London Wolt, London Wolt will charge all costs associated with the collection of this payment to the Client.



Client Obligations


33. The Client declares that all information provided is accurate, complete and true.


34. By agreeing with these Terms and Conditions via London Wolt's website, the Client declares to have informed London Wolt of all correspondence previously sent to and received from the Broker, as well as offers and discounts given or done by the Broker regarding the Claim before this Agreement was entered into.


35. The Client will always follow London Wolt's instructions regarding the Claim. London Wolt cannot be held liable and/or responsible for the loss of time and/or the expiration of legal terms or limitation periods resulting from the Client's failure to do so.


36. The Client will refrain from communicating directly with the Broker once this Agreement has been entered into, and throughout the entire Extrajudicial Process and possible Judicial Process, unless expressly agreed upon with London Wolt in writing. London Wolt cannot be held liable for any damages resulting from the Client's own actions toward the Broker. 


37. The Client will always and immediately inform London Wolt of any news or developments regarding the Claim. London Wolt cannot be held liable for the Client's failure to follow this instruction or any consequences thereof.


38. If the Client's contact details change after the Agreement has been entered into, the Client will immediately inform London Wolt of these changes. London Wolt cannot be held liable and/or responsible for the loss of time and/or the expiration of legal terms or limitation periods or for any other negative consequences resulting from the Client's failure to provide accurate contact details or the failure to inform London Wolt of any changes.


39. The Client is not permitted to transfer the Claim to a third party at any time during the Extrajudicial Process and the Judicial Process, unless expressly agreed upon by London Wolt in writing.


40. In the event the Client fails to act according to article 41 of these Terms and Conditions, or accepts an offer from the Broker without express written consent from London Wolt, the Client will owe 25% of the Claim amount to London Wolt. This amount will be required to be transferred to London Wolt's bank account within 14 business days of the date of termination and/or transferal of the Claim.


40. In the event the Client fails to act according to article 41 of these Terms and Conditions, or accepts an offer from the Broker without express written consent from London Wolt, the Client with “Legal coverage” or “Full scale legal intervention” funds recovery plan will owe 20% of the Claim amount to London Wolt. This amount will be required to be transferred to London Wolt's bank account within 14 business days of the date of termination and/or transferal of the Claim.


41. The Client is allowed to terminate the Agreement prematurely;
- In the event the Client decides to terminate the Agreement before providing London Wolt with a signed power of attorney, such termination is free of charge.

- In the event the Client decides to terminate the Agreement after providing London Wolt with a signed power of attorney London Wolt has the right to charge 10% of the total claim amount to the Client with “Legal coverage” or “Full scale legal intervention” funds recovery plan, with a maximum of EUR 300.00 (three hundred Euros), as reimbursement for incurred expenses, if London Wolt has started funds recovery procedure, i.e., assessed and built the Client’s case, and London Wolt has the right to charge 20% of the total claim amount to the Client, if London Wolt has started extrajudicial process, i.e., communication with the Broker on funds recovery.


Legal office charge is non-refundable in all cases.


42. Payment of the invoice to the bank account or to other account by alternative method (e.g., electronic wallet, payment account or card, etc.) preferred by the Client needs to be done no later than 14 days after termination and/or completion of the Claim to the bank account of London Wolt.



Force Majeure


43. London Wolt cannot be bound to fulfil any responsibility toward the Client if it is hindered to do so as a result of force majeure or a circumstance beyond its power, including those responsibilities that would fall under London Wolt's accountability under the law, a legal transaction or generally accepted standards. Force majeure includes the following: all outside factors, anticipated or not anticipated, over which London Wolt does or did not have any control, but which cause London Wolt be unable to fulfil its responsibilities to the Client. London Wolt is also entitled to invoke force majeure if the circumstances hinder (further) fulfilment of the Agreement, irrespective of whether the circumstances causing force majeure occur prior to or after the time London Wolt's work for the Client should have been completed.


44. London Wolt will be permitted to suspend its obligations toward the Client while the force majeure persists.