General Terms and Conditions

 

1. Purpose and function of these General Terms and Conditions
The following terms and conditions are intended to clearly regulate the mutual relations between customers and VPZ Vermögens Planungs Zentrum AG. They are deemed subsidiary against the special agreements between customers and VPZ Vermögens Planungs Zentrum AG.

The following terms and conditions also apply – if applicable mutatis mutandis – to non-customers who maintain business relations with VPZ Vermögens Planungs Zentrum AG or would like to establish business relations. Accordingly, these terms and conditions are publicized on the website of VPZ Vermögens Planungs Zentrum AG where explicit reference is made to this circumstance.

The following General Terms and Conditions are intended for all services, particularly advice, calculations, rates and other data and are fully accepted by the customer on appending his signature to the mandate agreement. By using the service offerings of VPZ Vermögens Planungs Zentrum AG, these terms and conditions are deemed accepted. Any General Terms and Conditions of customers or third parties which would conflict with or deviate from these General Terms and Conditions are not applicable.

2. About VPZ Vermögens Planungs Zentrum AG
VPZ Vermögens Planungs Zentrum AG has been licensed by the Swiss Financial Market Supervisory Authority (FINMA) as a distributor of collective capital investments and is entered in the public register as an independent broker (FINMA Broker No. 13,954). Information on these licenses can be viewed on the website of FINMA via the Internet at any time. VPZ Vermögens Planungs Zentrum AG Furthermore, VPZ is also engaged in the Financial Services Standards Association (SRO/VQF), is an active member of the Association of Swiss Financial Advisors (SFBV), and a certified member of Cicero.

VPZ Vermögens Planungs Zentrum AG provides financial services in Switzerland and, for this purpose, is only licensed in Switzerland. It does not advertise its services to persons resident abroad unless solicited and does not recommend any specific financial investments unless solicited.

VPZ Vermögens Planungs Zentrum AG has no exclusivity or preference obligations towards one or more insurance companies either as a distributor or as an independent broker. The investment and provision solutions offered are regularly checked for their competitiveness. VPZ Vermögens Planungs Zentrum AG is free to no longer offer any of the investment and provision solutions offered without prior notice. Upon request, customers are given information about the respective partner companies of VPZ Vermögens Planungs Zentrum AG.

3. Making contact
In case a contact is made (online, via e-mail, via form, by telephone, in writing, by fax or any other means of communication), VPZ Vermögens Planungs Zentrum AG is authorised – until written notice of revocation has been received – to make contact with the person placing the enquiry, by telephone or by using the same means of communication which the person placing the enquiry had used, and to send him/her information material.

4. Power of disposition
The signature regulations or the power of representation communicated to VPZ Vermögens Planungs Zentrum AG in writing are valid in relation to VPZ Vermögens Planungs Zentrum AG only and until written notice of revocation has been submitted to VPZ Vermögens Planungs Zentrum AG, irrespective of any deviating entries in the Commercial Register and publications. Any signature regulations or powers of representation communicated to VPZ Vermögens Planungs Zentrum AG are not terminated by death or the loss of capacity to act.

5. Verification of signature and identity
VPZ Vermögens Planungs Zentrum AG undertakes, according to circumstances, to verify the identity of customers, their representatives and other persons. The customer bears any loss arising from the undetected absence of proof of identity or forgeries, provided VPZ Vermögens Planungs Zentrum AG has acted with due diligence. The customer undertakes to provide all documents and information which VPZ Vermögens Planungs Zentrum AG would require to comply with the respective due diligence obligations, without delay and without being solicited.

6. Lack of capacity to act
The customer bears any loss arising from the lack of capacity to act of his own person or third parties, unless VPZ Vermögens Planungs Zentrum AG would have been advised of this by way of written information submitted by third parties to VPZ Vermögens Planungs Zentrum AG.

7. Transmission errors
The customer bears any loss arising from the use of the postal services, telefax, telephone, e-mail or other means of communication and transport, namely due to loss, delay, misunderstandings, mutilations or duplicate copies, provided there has been no gross negligence on the part of VPZ Asset Planning AG.

8. Notifications by VPZ Vermögens Planungs Zentrum AG
Notifications by VPZ Vermögens Planungs Zentrum AG are deemed transmitted if they have been sent to the last address provided by the customer. The date of the copies or mailing lists held by VPZ Asset Planning AG will be deemed the time of dispatch. Any post to be retained poste restante or at the bank or, on the basis of a corresponding agreement, at VPZ Asset Planning AG will be deemed delivered upon expiry of 14 days from the date indicated in it.

9. Reclamations and complaints by customers
All reclamations and complaints are to be addressed to VPZ Vermögens Planungs Zentrum AG directly. Reclamations by a customer due to execution or non-execution of orders of any kind or complaints about invoices or the processing of orders and any other communications are to be submitted immediately upon receipt of the respective information but not later than 30 calendar days. If the information to be expected is not received, the complaint has to be lodged in a way as if the information had been sent to the customer by normal postal delivery service. Any later complaints are excluded.

In case of correspondence being retained at VPZ Vermögens Planungs Zentrum AG – on the basis of a corresponding agreement with the customer – the complaint period is 30 days from the date of the respective information. Upon expiry of this date, the respective confirmations of an order, credit, debit or balance are deemed authorized in any case, and a corresponding complaint is excluded.

Each customer can complain about the activity of VPZ Vermögens Planungs Zentrum AG as an insurance broker to Swiss Financial Market Supervisory Authority FINMA.

10. Improper execution of orders and liability
If any damage arises due to non-execution or improper execution of orders, VPZ Vermögens Planungs Zentrum AG will be liable only for any loss of interest, unless, in individual cases, it had been advised of the impending danger of ensuing damage. Liability exists only if a damage can be attributed to gross negligence or intentionally culpable action or omission on the part of VPZ Vermögens Planungs Zentrum AG. VPZ Vermögens Planungs Zentrum AG cannot be held liable for any transmission errors and/or communication errors resulting from the consultation. Customers can view his/her documents at any time and request corrections. On no account will VPZ Vermögens Planungs Zentrum AG assume liability for any information based on incorrect or incomplete data. All offers are subject to change and non-binding.

11. Remuneration of and services by third parties to VPZ Vermögens Planungs Zentrum AG
VPZ Vermögens Planungs Zentrum AG concludes with its customers a written mandate agreement regarding the remuneration due and the payment terms. If the fee claim of VPZ Vermögens Planungs Zentrum AG is based on expenditure of time, the fee rate applicable for each unit of time is fixed in the agreement. VPZ Vermögens Planungs Zentrum AG keeps records of the expenditure of time. By appending his/her signature to a corresponding agreement, the customer accepts such records as the basis for the fees due.

The customer is aware that VPZ Vermögens Planungs Zentrum AG, as a professional consulting company, may, in connection with its brokerage activities, also receive services from third parties, particularly from financial institutions, such as insurance companies, banks and asset management companies, which form an integral part of an adequate remuneration of the activity of VPZ Vermögens Planungs Zentrum AG by the customer. The customer is not entitled to these services or to any crediting to the amounts payable by him/her to VPZ Vermögens Planungs Zentrum AG, particularly any fees. Further details are specified in the agreements between customers and VPZ Vermögens Planungs Zentrum AG. Customers will be informed about the corresponding services prior to conclusion of the agreement.

12. Obligation of VPZ Vermögens Planungs Zentrum AG in relation to employees and agents
Employees and agents of VPZ Vermögens Planungs Zentrum AG are not authorised to issue any binding statements on behalf of VPZ Vermögens Planungs Zentrum AG. VPZ Vermögens Planungs Zentrum AG is only obligated on the basis of a joint signature of two.

13. Outsourcing of business areas
VPZ Vermögens Planungs Zentrum AG can outsource individual areas in whole or in part to heads of services in Switzerland or in a member state of the European Economic Area. The respective heads of services will be contractually bound by the duty of confidentiality.

14. Termination of the business relation
VPZ Vermögens Planungs Zentrum AG as well as the customer can terminate the existing business relations with immediate effect at any time, and can, in particular, refuse the execution of orders already placed. In this case, the claims of VPZ Vermögens Planungs Zentrum AG become due immediately, unless otherwise agreed in writing.

15. Applicable law / Severability clause
All legal relations between the customer and VPZ Vermögens Planungs Zentrum AG are subject to Swiss law. Should one or more provisions of these General Terms and Condition be invalid or void, this does not affect the validity of the remaining provisions.

In this case, the void or invalid provisions of these General Terms and Conditions are to be replaced by valid provisions that would correspond to the sense and purpose of these General Terms and Conditions.

16. Place of performance and of jurisdiction
Place of performance, of debt enforcement for customers resident abroad and place of jurisdiction for all legal proceedings arising out of or in connection with the business relations between VPZ Vermögens Planungs Zentrum AG and customers is Kloten ZH. VPZ Vermögens Planungs Zentrum AG has the right to prosecute customers at the competent court of their place of residence or at any other competent court and at any other permissible place of debt enforcement.

17. Amendments to these General Terms and Conditions
VPZ Vermögens Planungs Zentrum AG can make amendments to these General Terms and Conditions at any time. These will be notified to customers by post and any other appropriate means and will be deemed accepted unless objections are submitted within a period of one month and, from expiry of such period, will form an integral part of the agreement between VPZ Vermögens Planungs Zentrum AG and its customers.

Kloten, 1st February 2018