This terms of service statement is binding on all current and prospective account opening individuals and organizations, as an account holder, you authorise that Heartbeat Investments Limited open an account in my /our name and at any time subsequently to open such further accounts as I/We may direct and in consideration.

I/We understand and agree that:

A. HEARTBEAT INVESTMENTS LIMITED offices are open for business between the hours of 8am and 5pm (Monday – Friday) on each day that is designated a Business Day in Nigeria (“Business Day”).

B. All payments are to be made into the HEARTBEAT INVESTMENTS LIMITED Client’s Account That is, in no circumstance should any client pay cash to the company’s Staff/People. Any client that pays cash to any of the aforementioned, does that at his/her own risk.

C. Client mandates should be sent physically to the HEARTBEAT INVESTMENTS LIMITED office, in Lagos or the representative office in Benin or via e-mail and SMS. The dedicated email address for mandate is

D. Where a mandate consists of a purchase instruction, it can only be processed if sufficient cleared funds are available to execute such instruction and at the prevailing market conditions.

E. HEARTBEAT executes transactions based on the ruling market prices of stocks on the floor of the Nigerian Exchange Ltd and NASD OTC Securities Exchange as the case may be.

F. The Client agrees that payments of proceeds of investments from his/her account shall only be made to the client. No 3rd party payments shall be instructed as HEARTBEAT is not obligated to honour such requests.

G. Termination: This relationship may be terminated by either party with or without cause upon written notice given to the other party, effective 48 hours after receipt of such notice by the addresses provided there are no outstanding issues or transactions to be settled on the client’s account, or such later date as may be specified in such notice.

The Client acknowledges that upon receipt by HEARTBEAT of its notice of termination, HEARTBEAT shall complete any outstanding obligations and commitments made on its behalf. The Client acknowledges and agrees that due to the processing time needed to disengage service (s) on its account after notice of termination is received; further transactions in its account may be made by HEARTBEAT. In the event of bankruptcy or liquidation, HEARTBEAT’s authority to continue to act on behalf of the Client account shall continue until such time as HEARTBEAT is notified in writing of termination due to bankruptcy or liquidation by the legal representative, receiver, or liquidator of the Client.

H. The arbitration proceedings shall take place in Lagos and shall be conducted in the English Language. The Client confirms that the information provided above to open an account with HEARTBEAT is complete and accurate. The Client hereby acknowledges that the funds and source of such funds are legitimate and not directly or indirectly the proceeds of any unlawful activity.

I. Best Execution: Heartbeat Investments Ltd promises to take all sufficient steps to obtain the best possible result under the relevant circumstances when executing transactions on clients’ behalf. Heartbeat Investments owes its clients a duty to seek the best execution when it executes trades on clients’ behalf in the types of Capital Market instruments set out in this Policy.

J. Email Indemnity: This deed of Indemnity is made to be legally binding on persons who open stockbroking account with Heartbeat Investment Limited upon persons (hereinafter referred to as the client’s which expression shall where the context so admits include its successors -in-title and resigns) in favour of HEARTBEAT INVESTMENTS LIMITED (hereinafter referred to as the “Broker” which expression shall where the context so permits include its successors-in-title and Broker).

Whereas; The client maintains account(s) with the Broker; The clients have requested and the Broker has agreed that the Broker should act on fax, internet, electronic, or scanned copies of documentation for stock transactions with the Broker and for any instructions in respect of the account(s) and/or its operations as if were originals and /or hard copies. Provided that the documentation and instructions are issued in line with the client’s mandate with the Broker.

It is hereby agreed as follows; In consideration of the Broker agreeing to accept that the broker should act on fax, internet, electronic copies of documentation for Stockbroking transactions and any instruction in respect of my/our account(s) and/or its operations. By reason of the completion of the account opening form irrespective of the form (online/offline), hereby irrevocably and unconditionally agree that all fax, internet, electronic scanned copies of any documentation and/or instructions issued by me/us in respect of my/our account(s) or dealings with the Broker shall be binding and enforceable against me/us.

I/we further agree to fully indemnify HEARTBEAT INVESTMENTS LIMITED against any proceedings, claims, expenses, and liabilities whatsoever which may be taken or made against or incurred by the broker by reason of the Broker accepting the fax, electronic, scanned, internet copies of the documentation and/or instruction. I/We further confirm that the Broker by reason of the Broker can set off any such expenses/cost incurred by it in respect of my/our obligations herein against any of my/our account(s) with the Broker. I/We agree to be fully bound by the terms of its indemnity.

K. The Money Laundering (Prohibition) Act 2022 requires all financial and nonfinancial institutions to obtain, verify, and record information that identifies the person who opens an account. In this regard, when you open an account with us at HEARBEAT, we will ask for your name, address, means of identification, occupation, and other information that will enable us to identify you and verify your identity on an ongoing basis.

Further to the Money Laundering (Prohibition) Act 2022, any single transaction, lodgment or transfer of funds in excess of N5,000,000.00 or its equivalent in the case of an individual or N10,000,000.00 or its equivalent in the case of a corporate body, and suspicious transactions shall be reported in writing within seven (7) days and (24) hours respectively to the Nigerian Financial Intelligence Unit (NFIU) and the Securities & Exchange Commission (as applicable).