Wealth & Investment Online Terms and Conditions

1.1 The rights of Guests shall be limited to accessing and viewing such information provided on the Website for which no Access Code is required, however the provisions of clauses 12,13,14,17 and 18 shall apply to both Investors and Guests.

1.2 This Agreement supersedes and substitutes any agreement between the parties or their predecessors in title in respect of Online Trading or any part thereof.

1.3 This Agreement is confined to Online Trading and, unless otherwise provided for, does not apply to the Offline Business.

2.1 These Online Trading Terms are hereby deemed to be incorporated by reference into the Standard Terms of Business, notwithstanding the provisions of clause 29.1 of the Standard Terms of Business.

2.2 As far as may be required by law to give effect to the foregoing, Investec and the Investor hereby agree that clause 29.1 of the Standard Terms of Business is deemed to be amended by the addition of: "save for the terms governing online trading, which online terms are hereby incorporated by reference" at the end of the clause.

2.3 Whenever inconsistencies arise between the interpretation of the Standard Terms of Business and the provisions of these Online Trading Terms, the provisions of the Standard Terms of Business shall prevail.

2.4 For ease of use, Investec has included hyperlinks in the electronic display of this Agreement to text elsewhere in this Agreement or on the Website. These links are indicated herein by underlined text and the cursor should change into a hand or other pointer when held over this text. Any hyperlinked text is deemed to be incorporated into this Agreement by reference.

3.1 This Agreement is concluded between the parties on the occurrence of the first of the following events:

a) completion of any mandate relating to Online Trading;

b) submission of the Online registration form, if any; or

c) reliance on or use of Online Trading in any manner or form.

3.2 Without affecting the validity of deemed acceptance in terms of clause 3.1 and without imposing any duty on Investec to do so, Investors may be required to Submit acceptance of the Agreement and/or Amendments, from time to time. The provisions of clause 8 shall apply with regard to acceptance of Amendments.

3.3 Whenever contractual terms, disclaimers or notices are displayed or hyperlinked on the Website or emails sent to Investors, such contractual terms, disclaimers or notices shall be deemed to be accepted by the Investor on commencement of an Online Session unless the Investor immediately ends the Online Session without submitting any Instruction.

4.1 The Investor will be supplied with an Access Code by such means and in such format as Investec may determine from time to time. All Online Trading are subject to Investec having issued an Investor with an Access Code.

4.2 The Investor undertakes to ensure that the Access Code is neither easily accessible nor disclosed to anyone. Storing the Access Code on a computer or network will be regarded as prima facie negligent for purposes of evidence with regard to unauthorised transactions.

4.3 The Investor shall be obliged to log-off from Online Trading before exiting an Online Session. Failure to log-off could result in unauthorised Transactions for which Investec will not be held liable.

4.5 Investec may, in its sole discretion and for whatever reason, require an Investor to change his/her Access Code from time to time and the Investor undertakes to comply with such requirement unconditionally.

4.6 The Investor acknowledges that the Access Code may enable the Investor to access some or all online services of Investec and, accordingly, unauthorised use of the Access Code could expose an Investor to fraudulent transactions on other accounts held with Investec.

5.1 The Investor hereby designates the Access Code as the Investor’s signature for purposes of all subsequent actions performed or Instructions given during an Online Session.

5.2 In as far as a signature is required for each Instruction in terms of the Agreement or applicable legislation, the Investor hereby designates each Submission of an Instruction as his written signature.

5.3 Whenever required in the Agreement or applicable legislation, the Submission of the Access Code, together with the Submission of an Instruction shall, collectively, constitute and have the same effect as a written, signed authority.

6.1 Investec shall be entitled to regard all Instructions as actually originating from or authorised by the Investor and to act on such Instruction. Under no circumstances shall Investec be held liable for any actions taken on unauthorised Instructions.

6.2 Unless otherwise provided for in the Standard Terms of Business:

6.2.1 An Instruction becomes irrevocable once submitted to Investec.

6.2.2 Investec shall not be liable for the Investor executing the same Instruction more than once and neither Instruction shall be reversible.

6.2.3 If an Instruction sent by e-mail is not acknowledged by Investec, the Investor shall not re-submit or send the same Instruction before contacting Investec. This is because the initial Instruction may still be processed and re-sending the Instruction may lead to a double Transaction for which Investec shall not be held liable.

7.1 The Investor hereby grants Investec authority to issue notifications required in terms of the Agreement, legislation or regulation, as the case may be, by posting such notification on the Website or sending such notification by email.

7.2 Any notices so issued by Investec, shall as far as they contain contractual terms pertaining to Online Trading, also form part of the Agreement.

7.3 A certificate signed by the administrator responsible for the maintenance of the information system (whose authority it shall not be necessary to prove) shall be prima facie proof of the first date of publication, withdrawal or contents of a notification.

8.1 This Agreement may be amended by Investec from time to time. The Investor acknowledges that by accessing the Website from time to time, he/she shall become bound to the current version of the Agreement (the "current version") and, unless otherwise stated in the current version, all previous versions shall be superseded by the current version. Investors undertake to view the then current version each time use is made of Online Trading.

8.2 Without derogating from the aforegoing and without imposing any obligation on Investec whatsoever, Investec reserves the right to give Investors notification of amendment of the Agreement either by electronic mail or by posting a notice on the Website. On notification of the existence of the amended terms, Investors are obliged to visit the Website and view the then current version of the Agreement. Unless the Investor notifies Investec otherwise, the amended Agreement will be deemed to have been perused and accepted by the Investor whenever the Investor makes use of Online Trading.

8.3 A certificate signed by the administrator responsible for the maintenance of the Website shall be prima facie proof of the date of publication and content of the current version and all previous versions of the Agreement. The same provisions apply with regard to notices and disclaimers posted on the Website.

9.1 Investec shall at all times and for whatever reason, have the sole and exclusive right to suspend or terminate Online Trading without any prior notification or giving any reasons for such termination or suspension.

9.2 Investors acknowledge and accept that Online Trading may become unavailable from time to time due to various circumstances, including: technical failure or problems with the Investec System; technical failure or problems with third party information technology systems; unavailability of telecommunication or electricity services; or other circumstances beyond the control of Investec.

9.3 Without derogating from the provisions of clause 21, Investors undertake to limit their potential losses by utilising Investec’s Offline Business for the duration of the unavailability of Online Trading.

10.1 The Investor warrants to Investec that he/she: (a) has the requisite legal capacity to make use of Online Trading; (b) has complied with all applicable statutory provisions; and (c) has read, understood and accepted the terms of this Agreement.

10.2 This Agreement evidences the sole terms and conditions governing Online Trading. Investors acknowledge and agree that any warranties, statements or representations of whatever nature and in whatever form, including promotional materials, granted or made by Investec, its employees, agents or advisors which are not evidenced in the Agreement shall not be valid and enforceable and Investors shall not hold Investec liable to any such warranty or representation, whether made prior to, during or after concluding the Agreement.

The Investor hereby indemnifies Investec for all losses and/or all expenditures which Investec may incur on his/her behalf due to: (a) non-payment; (b) any Instruction exceeding the amount available in the Investor’s bank account; or (c) unauthorised Instructions executed which are not due to Investec’s negligence.

12.1 Investec does not act as financial advisor. All material published on the Website (the "material") is only intended to provide general information regarding Investec and its Investments and does not constitute professional advice of whatever nature. All material including, without limitation, research, opinions, figures, prices, projections or other content are provided "as is" and Investors shall not place reliance thereon in taking actions which might affect their personal finances without consulting Investec directly.

12.2 The Website may from time to time contain certain statements or information with respect to:

a) the projection of revenues, income, earnings per share, capital expenditures, dividends, capital structure, or other financial items;

b) the plans, objectives and/or projections of Investec for future operations, including those relating to the services of Investec; or

c) future economic performance; and Investec wishes to caution Investors that such projections are only predictions and that actual events or results may differ materially.

Unless clearly otherwise stated, no material should be construed as an offer of whatever kind made by Investec. All material on the Website merely constitutes an invitation to do business with Investec.

14.1 The logos and marks displayed on the Website are registered and unregistered trademarks of Investec and/or third parties. Nothing contained on the Website should be construed as granting any licence or right to use any trademark without the written permission of Investec and/or such third parties.

14.2 Investors are hereby authorised to view, download one copy to a local hard drive or disk, print and make copies of such printouts, provided that:

14.2.1 such material is used for purposes of using or considering using Online Trading and no other commercial purposes;

14.2.2 any reproduction of Investec proprietary material from the Website or portion thereof must include this notice in its entirety.

15.1 Investors are required to use and maintain only hardware and software of sufficient quality and performance capability and to use only the Specified makes and versions of internet browser software. Failure to use a Specified browser may result in a higher security risk and/or cause some or all of the functionality of the Website not to operate properly or at all and Investec shall not be held liable in this regard.

15.2 Software, if any, made available for download on or via the Website is governed by licence conditions establishing a legal relationship with the licensor. Investors indemnify Investec against any breach of such licence conditions.

15.3 Investec gives no warranty and makes no representation, whether express or implied, as to the quality or fitness for purpose or use of such software.

15.4 No warranty, whether express or implied is given that any files, downloads or applications available via the Website are free of viruses, or any other data or code which has the ability to corrupt or affect the operation of Investors’ systems.

Information transmitted via the Internet, including e-mail, is susceptible to unlawful access or monitoring. Investors shall bear all risk of transmitting such information in this manner and under no circumstances will Investec be liable for any loss, harm or damage suffered by them as a result thereof. Investec reserves the right to request independent verification of any information transmitted via the Website or e-mail. Investec will not intentionally deviate from its privacy policy as published on the Website from time to time.

Investec may use the services of certain third parties to provide information on the Website from time to time. Investec has no control over this information and makes no representations or warrantees of any nature as to the accuracy, appropriateness or correctness of such information. Investors agree that such information is provided "as is" and Investec shall not be directly or indirectly liable for any damages that may arise from the Investor’s reliance on such information.

18.1 External hyperlinks may be provided for convenience. These web pages are beyond the control of Investec and no representation or endorsement is made as to their content.

18.2 No person shall be entitled to link a website or any web pages to any web pages of the Website without the prior written consent of Investec.

18.3 No person shall be entitled to send search-software (crawlers) to retrieve information from the Website for reproduction or processing, in any manner or form, without the prior written consent of Investec.

18.4 No person shall be entitled to use Investec’s name or that of any of its proprietary products or services for purposes of metatagging without the prior written consent of Investec.

Investec makes Online Trading available to Investors subject to the principle of technology neutrality, which principle Investors hereby accept. The principle of technology neutrality means that, unless otherwise stated in the Agreement:

19.1 Online Trading is subject to the same business fundamentals and principles governing Investec’s Offline Business;

19.2 Online Trading is subject to the same processing turn-around times and performance criteria as applied by Investec in its Offline Business;

19.3 any reference to words in the Agreement, legislation or regulations traditionally associated with a non-electronic or non-Online environment, including the terms "writing", "document" or "signature", shall include electronic or Online forms thereof;

19.4 documents or displays viewed or printed by Investors via an information system shall prima facie be deemed to be "true copies" of the original.

20.1 Online Trading is only available to: (a) persons domiciled or of permanent residence in the Republic of South Africa ("RSA"); (b) corporate or other legal entities or organisation domiciled and incorporated in terms of the laws of the RSA; and (c) RSA citizens resident outside the RSA provided such residents appoint an RSA agent and use funds held in an RSA bank account.

20.2 Any use or attempted use of Online Trading by any person or entity other than those specified in this clause 20 could result in civil action or criminal prosecution. Without prejudice to the foregoing, the use or attempted use of Online Trading by residents of the United States of America, the United Kingdom, China; Australia, Germany or Hong Kong is hereby expressly prohibited.

Investors may be required to complete and Submit an Online registration form and/or complete any other documents or provide any other information as may be required by Investec from time to time. Investec, in its sole and absolute discretion and without stating reasons therefore, shall have the right to reject any application for Online Trading.

22.1 Investec may, in its sole discretion, provide Investors with the facility to post messages on the Website (the "message board").

22.2 Investec reserves the right to evaluate ("screen") message contents ("Content") prior to posting them on the message board but Investors accept and acknowledge that screening shall not cause Investec to be regarded as having exercised content control over the message board and, as such, does not guarantee the accuracy, integrity or quality of such Content.

22.3 Investors agree not to use the message board to:

22.3.1 upload, post, email or otherwise transmit any Content that is unlawful, harmful, threatening, abusive, harassing, tortuous, defamatory, vulgar, obscene, libellous, invasive of another's privacy, hateful, or racially, ethnically or otherwise objectionable;

22.3.2 impersonate any person or entity, including, but not limited to, a Investec official, forum leader, guide or host, or falsely state or otherwise misrepresent your affiliation with a person or entity;

22.3.3 forge message headers or otherwise manipulate identifiers in order to disguise the origin of any Content transmitted through the message board;

22.3.4 upload, post, email or otherwise transmit any Content that you do not have a right to transmit under any law or under contractual or fiduciary relationships (such as inside information, proprietary and confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements);

22.3.5 upload, post, email or otherwise transmit any Content that infringes any patent, trademark, trade secret, copyright or other proprietary rights ("Rights") of any party;

22.3.6 upload, post, email or otherwise transmit any unsolicited or unauthorized advertising, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of solicitation, except in those areas (such as shopping rooms) that are designated for such purpose;

22.3.7 upload, post, email or otherwise transmit any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment;

22.3.8 interfere with or disrupt the message board or servers or networks connected to the message board, or disobey any requirements, procedures, policies or regulations of networks connected to the message board;

22.3.9 intentionally or unintentionally violate any applicable local, state, national or international law;

22.3.10 "stalk" or otherwise harass another; or22.3.11 collect or store personal data about other Investors.

22.4 The Investor hereby indemnifies and holds Investec harmless from any claim or demand including attorneys' fees, made by any other Investor or third party due to or arising out of the content the Investor submits, posts to or transmits through the message board.

23.1 The website and online trading are provided "as is" and Investec makes no express or implied representations or warranties with regard thereto. Without limiting the generality of the foregoing:

23.1.1 Investec does not warrant that the website or online trading will be error-free or will meet any particular criteria of accuracy, completeness or reliability of information, performance or quality.

23.1.2 Investec expressly disclaims all implied warranties, including, without limitation, warranties of merchantability, title, fitness for a particular purpose, year 2000-compliance, non-infringement, compatibility, security and accuracy.

23.2 Neither Investec, any company in the Investec group, its shareholders, agents, consultants or employees will be liable for any damages whatsoever relating to the use of the website, online trading or the information contained therein, including, without limitation, any direct, indirect, special, incidental, consequential or punitive damages, whether arising out of contract, statute, delict or otherwise. Without derogating from the generality of the foregoing, Investec shall not be liable for:

23.2.1 Any interruption, malfunction, downtime or other failure of the website or online trading, the Investec system, databases or any component part thereof for whatever reason;

23.2.2 Any loss or damage with regard to investor data or other data directly or indirectly caused by malfunction of the Investec system, power failures, unlawful access to or theft of data, computer viruses; programming defects; negligence on the part of Investec or caused by the year 2000 computer problem;

23.2.3 Any interruption, malfunction, downtime or other failure of goods or services provided by third parties, including, without limitation, the public switched telecommunication service providers (currently Telkom), internet service providers, electricity suppliers (currently Eskom), local authorities and certification authorities;

23.2.4 An event of vis major or any other event over which Investec has no direct control.

In these Online Trading Terms the following terms shall have the following meaning:


Access Code - means the Investor specific code or codes required to initiate an Online Session and includes any component part of such Access Code such as an Investor ID or PIN


Agreement - means these Online Trading Terms read with the Standard Terms of Business;


Electronic Signature - means an electronic signature as defined in the Electronic Communications and Transactions Act and includes the identifier/s provided for in clause 5


Guest - means a guest of the Website who has not registered to use Online Trading and has accessed the Website for informative purposes


Hyperlink - means any graphic, icon or text on the Website linked to any other website or web page, whether on the Website or any other website


Information System - means a system for generating, sending, receiving, storing, displaying or otherwise processing Instructions and includes the Internet, telephone voice recognition, Short Messaging System (SMS) and Wireless Application Protocol (WAP) communications


Instruction - means an instruction given Online or otherwise by an Investor, to Investec, for Investec to perform Online Trading


Investec System - means the information technology infrastructure of the information system underlying Online Trading, owned, leased or managed by Investec


Investor - means a user, duly registered and authorised to use Online Trading


Offline Business - means the products and/or services provided by Investec otherwise than via the Online medium


Online - means via any information system used for Online Trading, from time to time


Online Trading - means the services provided Online by Investec to Investors or Guests


Investment - means the Online products or services offered from time to time, including, without limitation, packaged products, unit trusts and international valuations


Online Session - means the uninterrupted period during which the Investor has access to Online Trading, from time to time
Specified - means displayed on or via the Website


Submit - means the submission of information by the Investor to Investec through the Investec System and includes the clicking of any icon or hyperlink on the Website or functionality on the Investor’s Internet browser which transmits information to Investec


Standard Terms of Business - means the Investec Standard Terms of Business applicable to Investments, a copy of which is available by clicking here


Website - means the website (including all its constituent web pages) on which Investec provides its Online Trading from time to time