Terms and Conditions

Welcome to Madkhol Financial. These terms and conditions outline the rules and regulations for the use of our services.

By accessing and using our services, you accept and agree to be bound by the terms and provision of this agreement.

1. Definitions:

2. General Information:

The Automated Advisor and the Investment Management service that Company provides to Users and Investors shall be subject to the Investment Account Opening Agreement concluded between Customer and Company. The user shall carefully read Customer’s agreements which provide details on the service provided by Company and contain the obligations and rights of both Company and the User. It shall be prohibited to use the Platform and benefit from Company’s services if all the terms and conditions provided for in Customer’s agreements are not understood.

3. Company’s Platform:

The Platform is an electronic platform that provides Automated Advisor service and Investment Management Activity. All information and standards set forth on the Platform shall be an integral part of Company. The Platform shall offer integrated Advisory Services and solutions to individual Investors, starting with the completion by the Investor of a ‘Know Your Customer’ form and conducting risk assessment. After that, Company shall propose, via the Platform, different strategies with various assets managed by specialized investment experts. Company shall not provide any guarantees or recommendations with regard to investment in the opportunities presented on the Platform. The information presented on the Platform shall not be intended to provide legal, tax or financial advice or recommendation to Customer. Customer shall not rely on any such information or materials, but shall rather obtain, in their own way, advice and guidance on any investment opportunities or recommendations offered to them.

4. Ownership, Intellectual Property and Copyright:

Company shall be the owner of all copyrights to the content available on the Website. These copyrights shall include, but are not limited to (a) all documents and materials relating to the services and products offered on the Platform; (b) all texts, information, data, drawings, plans, graphics, images, videos, fonts, music, sounds and HTML code as well as all interfaces on the Website; and (c) website designs, choices and arrangements. By submitting or forwarding, to Company, any material that contains any texts, information, data, graphics, graphs, graphic tools, images, videos, fonts, music or sounds (for the purposes set out in this paragraph), the user acknowledges the intellectual property rights permanently and exclusively granted by the law to Company. When submitting or forwarding any content to Company, the User shall (a) undertake that he has the full right to distribute or publish such content; (b) undertake to indemnify Company for all damages in case of objection, whether successful or not, by anyone to the User's distribution or publication of such content; (c) undertake that he is fully aware that Company has the right to maintain such information forwarded by him for reasons consistent with Company's privacy policy. In addition, the User’s provision of those rights to Company shall be on a permanent basis. The use of these services shall also comply with the laws applicable in KSA. These Terms and Conditions shall apply to all Users of the services owned by Company.

5. Permitted Uses:

Unless otherwise stated, the User shall be granted a non-exclusive and non-transferable, non-assignable right to access, use and display this Platform and all information that this Platform provides to the User for use and for the intended purposes. Downloading any content from the Platform shall not mean the grant of the right of ownership of that content in any way, nor the right to modify that content or use it for any other purpose that is not provided for. The rights of ownership of the content shall entirely remain with Company or parties authorized by it. Company shall also reserve all rights not expressly granted to the User. The rights to use Company's copyrighted material for purposes other than those provided for in these Terms and Conditions shall be granted on a case-by-case basis.

6. The Investors:

Company may accept all categories of Saudi nationals or expatriates, provided that the investments of individual Customers do not exceed SAR 500,000 (five hundred thousand Saudi riyals).

Each Customer using this Platform represents that they are 18 (eighteen) years of age or older. Any use of the Platform by any customer who is under the age of 18 (eighteen) shall be considered a violation of these Terms and Conditions.

Each Investor shall fulfill all of their legal duties and obligations, ask questions, receive answers, obtain additional information, and exercise due diligence on any investment they may make. All investments shall comply with the laws and regulations applicable in the place where the purchase, offer or sale of securities takes place.

The Platform shall be available only to Users who have the legal capacity to benefit from the services of the Platform. The User shall be solely responsible if it is proven otherwise.

7. Prohibited Uses:

1. Modifying, publishing, transmitting, distributing, displaying or showing the contents of the Platform, taking part in the transfer, sale or creation of secondary works or works derived by reference to the Platform or exploiting in whole or in part, in any way, the materials which are presented on the Platform and are protected by intellectual property rights, without the prior written consent of Company (except as expressly provided in these Terms and Conditions).

2. Using this Platform by foreign companies located outside KSA. The User shall be fully and personally responsible for any obligations under the law of his country.

3. Subletting, letting, selling, assigning, transferring, distributing, sharing the use of or granting rights to any rights provided by the service or any materials and documents made available on this Website, to/with any third party.

4. Providing the use of the Platform on computers designated for services, interactive cable network or TV or multi-CPU, organized cooperation of Users with users who are not authorized by Company, or exploiting, for commercial purposes, any aspect of access to the Platform, materials or documents that this Platform provides.

5. Using any information obtained through this Platform and investor contact information for any reasons not listed under the Article on the Purposes of Use herein.

6. Carrying out or attempting to carry out a sale or organizing a marketing attempt with investors, beyond communications related to investing in investment opportunity, for the purpose of promoting other investment opportunities or competing or communicating with investors for reasons other than those stated herein.

7. Communicating with investors, projects or business supporters to market other websites that provide services competing with Company’s services.

8. The prohibited uses listed herein shall result in the confiscation of the project or the project support account and the non-refundability of the fees paid in this regard. Company shall be also entitled to take any additional legal action to recover the intellectual property rights lost due to the prohibited uses.

9. All information and materials presented on this Platform as well as the terms, conditions and descriptions that are displayed on it are subject to change. Unauthorized use of Company's websites and systems, including, without limitation, unauthorized access to Company's system and misuse of passwords or information on the Website, are strictly prohibited. Users shall be permitted to print, download or save, on a temporary basis, extracts from Company's Website for their personal information only or while using Company's online services. Users shall not be entitled to use such extracts for any other purposes after obtaining Company's written consent.

10. Company's Website may involve other websites operated or made available by third parties. Company disclaims any liability for any information, materials, products or services made available on any third party’s website linked to Company's website. By linking to a third party’s website, Company's intent shall not be to recommend any of these services or products and Company shall not be responsible for the failure of any of them.

11. Any use of the Platform that results in a violation of the laws and regulations in force in KSA.

8. Trademarks:

Trademarks shall be used by the Platform depending on the service that the User wants to obtain. Accordingly, any use of the trademarks other than the one mentioned above shall be strictly prohibited without prior written consent from Company to use such trademarks. Each request for consent shall be processed separately.

9. Modifications:

Company, at any time and from time to time in its sole discretion, shall have the right to modify or discontinue the service (or any part of the service, including sending or transmitting related materials or documents) temporarily or permanently, with or without prior notice. In addition, Company, at any time and from time to time and in its sole discretion, shall have the right to change or cancel, without prior notice, any content or features on the Platform. The User also agrees that Company shall not be responsible vis-à-vis him or vis-à-vis any third party for any modification, suspension or discontinuation of the service, content or features available on the Platform.

10. Difficulties encountered by the system:

Company uses internal development systems for its services. These systems may encounter technical or other difficulties. Computers and communications systems may also experience some interruptions. Accordingly, Company is constantly enhancing and developing these systems to the extent that it keeps pace with the level of the Platform usage. Furthermore, Company may introduce additional features and functions to its services that may arise in a need to develop or license additional technologies. The increased use of the Platform service may result in an increase in the volume of transactions through special processing systems, or the provision of new services, features or functions that cause unexpected disruptions to the system, slow response, deterioration in the level of customer service, and delays in reporting accurate financial information.

11. Accurate information:

If a User registers for this service, he undertakes that all the information and data that he provides to the Platform or service shall be true, accurate, updated and complete. He also undertakes to maintain and update this information to keep it correct, accurate and complete while using the Platform. If a User provides the Platform and Company with incorrect, inaccurate, outdated or incomplete information, or Company finds - for reasonable grounds - that this information is incorrect, inaccurate, outdated or incomplete, Company shall have the right to suspend or terminate the User's account. It shall also have the right to reject all or part of the uses, both present and future, that the User may seek to make on the Platform or service

12. Privacy Policy:

Users of the Platform understand that Company requests and collects personal data of users, which includes, but is not limited to, identity information, business information, financial information, professional information and any other information of the User (“Personal Data”). Company shall collect, use, process and store personal data. If a User does not provide personal data or does not complete the provision of personal data to Company, the User's ability to register, obtain an account or use the services of the Platform shall be limited. In this case, an Investor shall not be able to comment on an investment opportunity or invest via the Platform. It shall be up to Investors to review, change or update their personal data through their account settings

All personal data shall be confidential. Company shall take reasonable steps and measures to ensure the confidentiality of personal data and shall undertake not to disclose personal data to third parties except as per the requirements of investment opportunities in cases permitted or required by the law. Company shall (a) undertake to process personal data in compliance with all applicable laws, and (b) take all appropriate technical and organizational measures against any unlawful processing of personal data and against any accidental loss, destruction, leakage or damage of/to personal data. Company shall regularly review its security procedures to consider new technologies and methods that are appropriate to maintain the confidentiality of personal data. It should be noted that no security measures are perfect or impervious to hackers.

13. Confidential information

All personal, commercial and project information shall be treated with strict confidentiality in Company. Users and Investors undertake to maintain the confidentiality of the information and data they provide, and Investors undertake to maintain the confidentiality of the information and data they receive from any party via the Platform. Investors and Users shall be also prohibited from disclosing, distributing, or otherwise sharing such data and information with a third party. Users shall (a) report directly to Company any unauthorized use of their username or password or any attempt to hack the security or the account (b) make sure that they are logged out each time they are done with the account. Accordingly, Company shall not be responsible for any losses or damages that occur due to non-compliance with these Terms and Conditions.

14. Account lockout:

To reduce the risk of account hacking, the User's account on the Platform shall be locked after six (six) failed login attempts for a period of 60 (sixty) minutes. After the expiry of the 60-minute time, the account shall be automatically unlocked.

15. Registration:

The services provided by Company may require payment of a usage fee. Registration and usage fees shall be subject to update and change without prior notice. If a confirmation e-mail is received, this shall not mean in any way that the registration request has been accepted. Company shall have the right to reject, without prior notice, the registration of any User. Company may require verification of information or data before accepting the registration request, including verification of credit card data and information. You can cancel the registration request by sending a message to contact@madkhol.com.

16. Securing Online Transactions:

Company shall make all necessary efforts to secure all transactions made via the Platform. Company shall use advanced public and private key security methods. A public key is used to encrypt information while a private key is used to decrypt information. After that, the User can start conducting secure transactions that ensure the integrity and privacy of messages. If a User discovers any activity that may be fraudulent on the credit card, please contact the bank that issued that credit card and inform them.

17. User Accounts Approval Policy:

Company shall have the right not to accept personal accounts that do not comply with Company's quality standards and policies. Company shall be notified of any change or update to any personal account, and it shall have the right not to accept the creation or update of any account. To avoid doubt, the use of the Platform shall be subject to the Terms and Conditions of Use, while the provision of Automated Advisor and Investment Management services shall be subject to the Investment Account Opening Agreement. In the event of contradiction between the Terms and Conditions of Use and the Investment Account Opening Agreement, the provisions of the Investment Account Opening Agreement shall apply.

18. Pricing and Payment:

Investment shall be priced based on the payment method the User chooses for the purpose of investment as shown on the campaign page. In exchange for the services provided by Company, the User shall be obligated to agree to pay the stipulated investment services amounts, including any subscription, redemption, management fees or any other fees as applicable.

19. Related Websites:

This Platform may include links to other pages or Websites that are owned or operated by third parties (“Related Websites”). Company shall have no right or responsibility to control or administer the terms and conditions of use or policies of such websites or pages. Company shall not endorse the content, advertisements, products, services or other materials provided by those websites or pages. The User acknowledges that Company shall not be responsible, directly or indirectly, for any damage or loss arising from or related to the use of or reliance on such content, advertisements, products, services or other materials offered by those external websites and pages. You must communicate with the administrators, supervisors or operators of those external pages and websites if you have any inquiries about their pages and websites.

20. Public Profile Information:

Company may share public user account information with third parties for marketing purposes. The third parties shall be subject to these Terms and Conditions when they use that information. Company shall be committed not to publish the user's public account information if they refuse to have their public account information published and shared with other parties

21. Page Security Rules:

All Users shall be prohibited from hacking or attempting to hack the security of this Platform. Acts of hacking or attempted hacking shall include, but are not limited to: (a) accessing information or data that does not belong to them or logging into an account that is not authorized to be logged in to; and (b) any attempt to inform, explore, or test the strength or weakness of a network system, or otherwise hack or attempt to hack a network security or authentication system without prior permission or authorization, or attempt to interfere with another user, host, or network. Violation of network or system security may result in criminal or civil liability. Company shall make all possible efforts to track and follow up on any violation of order or security and to apply laws to violators in cooperation with courts in their countries.

22. Safe e-commerce:

Online commerce and communication depend on the secure transmission of confidential information over via networks. Accordingly, Company may rely on licensed third-party encryption and authentication technology to provide security and authentication technology for secure transmissions of confidential information. There is no guarantee, even with advances in computer capabilities, new discoveries in the field of cryptography, or other developments and events, that the technology used by Company to secure customer transaction information will not be hacked. The security system used by Company shall not guarantee that no hacking will occur.

23. Violations Reporting:

Users undertake to report to Company every suspicious incident that includes access, disclosure, modification, loss, destruction or damage to information.

24. Censorship:

It shall be possible to monitor, check, save, read, copy, store or re-transmit all electronic communications and the presented content during the daily operations carried out by the authorized employees and agents of Company during the exercise of their duties and tasks, or by the competent statutory authorities that are requested to assist Company in investigations opened into potential violations. Electronic communications and content may be also examined via electronic screening means. Furthermore, Company shall have the full right to reject any electronic communications or content that it considers to be inconsistent with Company's policies and procedures.

25. Investments:

Company shall not provide any guarantees related to investments which are considered unsecured and likely to suffer loss. Company's past performance shall not constitute a guarantee of future results. Historical yields, expected returns and prospects forecast are provided for informational and illustrative purposes only, and do not reflect actual future performance. All investments are subject to risk, including the possibility of losing the money invested.

26. Suspension and Cancellation Policy:

If any User of the Platform is deemed to have violated any of these Terms and Conditions, Company shall have the right, in its sole discretion, to suspend or terminate the account, password (or any part related thereto) and accession to the Platform. The User agrees that termination or suspension of the User’s account or deletion of information relating to the User's account may take place without prior notice. In case of termination, the User agrees to destroy any copies that contain parts of the content made available on the Platform. Finally, the user agrees that Company shall not be liable vis-à-vis any user or third party for any suspension, termination or discontinuation of access to the service or the Platform, or for any deletion by you of any information relating to the User's account. All provisions relating to Company's disclaimer and compensation for damages stated in these Terms and Conditions of Use shall be valid even after the termination or expiry of the relationship with the User

27. Users’ responsibility to comply with the laws and regulations applicable in KSA:

When using this service, the User shall recognize and abide by all laws, rules and regulations applicable in KSA, including, but not limited to filling in and submitting all the necessary forms and papers required by CMA or any other official bodies, ensuring that those authorities are the ones responsible for the registration of investors, providing the necessary data and information that may be required by these authorities, providing the disclaimer related to communications with investors and taking other legal procedures stipulated under CMA’s rules and regulations. The User also declares that they are fully aware that Company is not an entity that provides legal, accounting or tax advice and that all the information provided by Company in relation to securities laws is only provided for the purpose of spreading legal culture and is not considered legal advice on which the User can depend. Each User also undertakes and represents that he has a legal advisor who provides them with legal advice before and during the use of the Platform or any content provided via it.

The User is also aware that Company is subject to CMA’s requirements in terms of compliance with all money laundering laws and regulations in force in KSA. As part of the efforts made in this regard, the User acknowledges and agrees that all funds, and any part thereof, used by them to fulfill their capital obligations regarding investment via this Platform have not been and will not be derived, directly or indirectly, or in connection with any activity that may violate the law. The User further acknowledges that they shall always be ready to provide any additional information that Company and/or Company to invest in may request to comply with applicable laws and regulations and any additional ‘Know Your Customer (KYC)’ inquiries made by Company.

28. Disclaimer:

Company disclaims any warranty or representation of any content in the service. This shall include, but not be limited to: (a) warranties relating to marketing or use for particular purposes including investment decisions, whether or not Company is aware of which, had reasons to be aware of them or had previously been advised in this regard; (b) there is no guarantee that any results will be obtained through the use of Company's service, content or data. It shall not be permissible in any way to interpret the content or services provided by Company as investment advice or opinions expressed by Company on the appropriateness of any investment project, and Company's content and services shall not be construed as a recommendation, marketing, solicitation or endorsement by Company of a particular offer to buy or sell securities in general. Company shall not be responsible for any investment decision based on or derived from the content, services or results derived or made available on the Platform. The content available on the Platform shall be for informational purposes only and shall not be adopted or relied upon alone without legal or commercial advice. The services have been collected based on past conditions and shall not be relied upon in predicting future conditions. Company shall not be responsible for any losses related to the content or services provided on the Platform and resulting from contractual liability, tort liability, … etc., whether directly or indirectly, including, but not limited to, loss of profits or revenue, or any economic or commercial loss incurred due to any decision made based on the content and services offered on the Platform; (c) there shall be no representation or warranty that each content on the Platform shall comply with the requirements and obligations stipulated in the regulations and laws such as CMA’s rules and regulations or other laws and regulations; and (d) the User also acknowledges and declares that Company shall not be responsible for any incorrect data provided on the Platform by third parties.

In no event shall Company be liable (whether contractual liability, tort liability or otherwise) for any direct, indirect, punitive, incidental or consequential damages arising out of the content or services available on the Platform, including, but not limited to, damages resulting from losses in profits or revenues, damages resulting from damaged or lost data, damages resulting from viruses and other harmful programs and data, damages resulting from Internet networks and pages, any damages resulting from economic or commercial losses, damages resulting from decisions taken by any party depending on the service; its content or results, any damages resulting from delay; failure; interruption or corruption of any data or information transmitted in connection with the use of the service, and any damages resulting from inaccurate information; errors or omissions related to the content and services provided on the platform.

In all cases, the total liability of Company, its employees, agents and representatives in relation to the content and services provided on the Platform shall not exceed the amounts of the registration fees and user fees paid for using the service, whether the liability is tort or contractual.

29. Indemnity:

Each User shall indemnify Company against any claims, actions, demands, obligations or settlements including, but not limited to, all legal and accounting fees resulting from the User's violation of these Terms and Conditions.

30. Conflict of Interest Policy

1. Conflict of Interest

a. Application of the conflict of interest policy: This policy is without prejudice to or substitute the provisions of the laws and regulations applicable in KSA in relation to the conflict of interest. Rather, this policy shall be considered complementary to these laws and regulations. This policy shall apply to cases of conflict of interest and related party transactions in accordance with the provisions set forth below.

b. Objectives of the conflict of interest policy: This policy aims to:

1. Protect the interests of Company, the Platform, and Customers by regulating potential and actual conflict of interest situations between Company, related parties and Customers

2. Take the Platform to the highest standards of transparency in order to gain the confidence of Customers and reduce cases of conflict of interest in Company’s activities and the Platform by regulating Company’s dealings with the related parties.

3. Avoid the influence of personal, family or professional interest of any related person on the fulfilment of their obligations vis-à-vis Company or Customers.

c. The concept of conflict of interest: an actual or potential conflict of interest shall occur in the following cases:

1. When the private interest of any related party conflicts with the general interest of Company or in a way that may affect the interests of Customers with Company in the course of Company’s business.

2. When any of the related parties take decisions or have interests that prevent them from performing their work objectively and effectively.

3. When any of the related parties receives personal benefits for their position in Company.

d. Cases of conflict of interest: It is not possible to list all cases that constitute cases of conflict of interest, but it is possible to list some of them as follows:

1. Acceptance by Company and the related parties of gifts from Customers.

2. Holding shares or having financial interests in any of Customers’ companies.

3. Having a controlling interest by Company or any of its employees in any independent entity that provides due diligence, evaluation or advice services to issuers.

4. In general, cases of conflict of interest may arise during the purchase or sale of corporate securities (including shares or other types of traded securities)

e. Addressing conflict of interest: If any of the previous conflict of interest cases arise, it shall be resolved and addressed as follows:

1. Disclosure by the related party to Company of the actual or potential conflict of interest situation and the impact of that situation on transactions affecting the public, before approving any investment opportunity and presenting it on the Platform.

2. Disclosure by Company to the public, on its website, of the actual or potential conflict of interest situation and the impact of that situation on any transactions affecting the public.

f. Application of the policy:

1. The Platform and Company's Board of Directors shall interpret and supervise this policy, ensure its implementation, work in accordance with its provisions and make the necessary amendments to it.

2. A person shall not be considered to be involved in a conflict of interest situation unless Company or the Platform decides that the situation involves a conflict of interest in connection with Company or Platform’s transactions with third parties.

3. The Platform or Company may, at their discretion, make a separate decision, on each situation involving a conflict of interest, regarding the exemption from responsibility for a conflict of interest that may arise, from time to time, in the context of a person’s usual activities and decisions, or that may arise in the course of their work with Company, whether in connection with financial interests or matters that hinder them from fulfilling their obligation to duly act in a manner that takes into account the interests of Company

4. Company shall have the right to impose, in accordance with this policy, penalties on the related parties or third parties who violate this policy. It shall also have the right to refer all violators – who may be its employees or others - to the competent authorities for the purpose of claiming compensation for damages that may result from their non-compliance with the provisions of the policy.

5. Company may notify CMA and the public of the Platform or Company’s contracts or dealings with any related party in accordance with the Companies Law, CMA’s rules and regulations and Company’s disclosure policy.

g. Obligations of the related parties in connection with the conflict of interest policy:

1. Review this policy and abide by its provisions, appendices and any updates thereto.

2. Not to use their position to achieve private interests, carry out their work, fulfil their obligations vis-à-vis Company independently and free from any actual or potential conflict between the interests of Company and their personal interests, and to always prioritize the interest of Company over any other interest in accordance with the requirements of this policy.

3. Avoid cases of conflict of interest as much as possible, and stick to the methods prescribed to address them if they occur.

4. Not to misuse Company's assets, facilities and property

5. Maintain the confidentiality of non-public or confidential information and not disclose or exploit it to achieve personal interests.

31. Territoriality:

Company shall not guarantee that the content presented on the Website will be appropriate to be presented outside KSA. Access to the content may be illegal in some countries and by certain persons in those countries. If any User accesses the content from any of those countries, they shall bear full responsibility for the damages and risks arising from this access. Each User shall be also responsible for complying with and applying the laws in force in the country where they are based.

32. The applicable laws and arbitration:

These Terms and Conditions shall be subject to the laws and regulations in force in KSA. An arbitration panel consisting of a single arbitrator based in the city of Riyadh, KSA shall hear any dispute arising out of these Terms and Conditions.

33. Invalidity of any of the Terms and Conditions:

If any provision of these Terms and Conditions is declared invalid or unenforceable shall not affect the remaining Terms and Conditions. If a part of one of these Terms and Conditions is declared invalid, that condition or term shall be considered null and shall not affect the remaining valid terms and conditions.

34. General Provisions:

a. These Terms and Conditions shall form the entire agreement between each User and Company and they shall govern the use of the Platform, Website and services provided by Company and supersede all prior oral or written agreements between the Users and Company.

b. The use of the Website shall be subject to our privacy and trademark policies.

c. The inability of Company to exercise any of its rights stipulated under these Terms and Conditions shall not be considered a waiver of that right or any other right based on it.

d. Company shall have the right to collect all expenses paid, including attorney fees, in order to implement its rights stipulated under these Terms and Conditions

e. By using this Website and the tools associated with it, the user agrees that all metrics are computer-generated, objective, not subjective, and not necessarily tailored to the User's investment criteria, risks or use needs.

f. The User undertakes to indemnify Company for any damages or losses resulting from his use of the Platform or investment decisions or for any other damages or losses related to the use of information or data.

g. An investment decision shall not be made solely on the basis of the material presented on the Platform.

h. All numbers are prepared by the issuing companies and are not subject to verification.

i. Investors shall be required to exercise due diligence while using the Website.

j. By using the Platform, the User undertakes that they are fully aware that the Platform is merely a website that provides presentational information only.