Simulated Trading Agreement

1. BACKGROUND

1.1) Comit Capital operates as a proprietary trading firm, providing Clients access to simulated trading environments for training, evaluation, and performance assessment purposes.

1.2) Clients who successfully complete Comit Capital’s evaluation process, a trading challenge, receive an allocation of virtual assets from Comit Capital, and become “funded”.

1.3) In provision of the Services, Comit Capital grants Clients’ access to simulated trading environments wherein a Client may utilise such virtual assets to execute Trades in instruments representing CFDs.

1.4) The Client, by engaging the Services made available by Comit Capital, expressly accepts, acknowledges, agrees, understands and warrants the understanding that: –

1.4.1) No financial product or service, as defined in the FAIS Act, is offered in terms of this Agreement;
1.4.2) Comit Capital does not render Advice, as defined in the FAIS Act;
1.4.3) The Client is not a ‘client’, nor may the Client be deemed a ‘client’ as defined in the FAIS Act;
1.4.4) No product, service, contract, Trade, or otherwise, arising out of this Agreement or any associated term or condition, offered by Comit Capital is regulated in terms of the FAIS Act;
1.4.5) Simulated trading engaged in any Challenge provided by Comit Capital uses market data but does not involve real trades during a Challenge and simulated balances cannot be withdrawn, therefore You are not owed any compensation for “profits” you generate in simulation, and you do not owe us for simulation “losses”;
1.4.6) Comit Capital may, at its sole discretion, extend to you a Funded Account;
1.4.7) Comit Capital does not provide investment advice, trading recommendations, or portfolio management;
1.4.8) Since the Services provided to the Client in this Agreement are not regulated by, nor fall within the remit of the FSCA and/or the FAIS ombudsman, and the Client shall be held liable for damages suffered by Comit Capital as a result of frivolous and vexatious claims, complaints and submissions to the Financial Sector Conduct Authority and/or the FAIS ombudsman;

1.5) Upon the Effective Date, the Client expressly agrees that they have read, understood and accepted all terms and conditions set out herein, together with all legal documentation, FAQs and policies which may be amended from time to time, as made available to the Client by Commit Capital on its Website, all of which form part of this Agreement.

1.6) The Client, from the date they acquire and/or access any Challenge provided by Comit Capital, agrees to be legally bound by the terms and conditions set out in this Agreement.

1.7) This Agreement constitutes the sole record of the Agreement between Comit Capital and the Client and neither Party to this Agreement shall be bound by any undertaking, representation or warranty, save and
except for as is otherwise specifically provided for in this Agreement.

2. INTERPRETATION

2.1) In this Agreement, unless the context clearly indicates otherwise, the following words and expressions shall have the meanings assigned to them below:

2.1.1) “Advice” means “advice” as defined in section 1 of the FAIS Act;
2.1.2) “Agreement” means this means this document, as amended from time to time, read together with all annexures and appendices to this document, if any, including and without limitation any other documentation, policies, FAQs, and terms and conditions located on the Website and/or Client portal;
2.1.3) “Challenge” means Comit Capital’s evaluation stage, wherein a Client trades in a simulated environment under predefined rules and their performance is assessed for discipline and risk management;
2.1.4) “Challenge Account” means Comit Capital’s evaluation stage account, purchased by the Client;
2.1.5) “Comit Capital” or “We” means Comit Capital (Pty) Ltd, a company incorporated within the Republic of South Africa with company registration no.: 2024/361276/07, having its registered office at 50 Katherine Street, Sandton, Gauteng, Johannesburg;
2.1.6) “Daily Drawdown Limit” means the maximum allowable % loss in a single calendar day;
2.1.7) “Client Portal” your secure portal on the Website where you can access account metrics, initiate Rescue and request payouts;
2.1.8) “Client”, “You” and/or “Your” shall mean the individual who signs this document and accepts Comit Capital’s terms and conditions for the purpose of utilising the Services;
2.1.9) “Day” shall mean a business day being any day other than a Saturday, Sunday, or any other day which is officially declared a public holiday in the Republic of South Africa;
2.1.10) “Effective Date” shall mean the earlier of the date upon which the Client hereto places a Trade or commences Trading, with or via Comit Capital, and, the date of signature of this Agreement by the last party signing;
2.1.11) “FAIS Act” shall mean the Financial Advisory and Intermediary Service Act No. 37 of 2002, as amended, and includes any regulations, Codes of Conduct and other subordinate legislation made under that Act;
2.1.12) “Fees and Charges” shall mean the commissions, fees and charges payable by the Client in terms of this Agreement;
2.1.13) “Funded Account” or “Live Account” means a Company-funded trading account that may be offered to you after successful completion of a Challenge and Verification. You do not own the virtual
capital and you are granted limited trading access;
2.1.14) “FSCA” means the Financial Sector Conduct Authority of South Africa;
2.1.15) “Hard Breach Rule/s” means the rule/s when breached may result in immediate termination of the Services, an account have access to, or in serious instances, Your relationship with Comit Capital;
2.1.16) “Initial Capital” the notional starting balance assigned to your simulated account in the Challenge;
2.1.17) “Rescue” means the reset feature made available after a Hard Rule breach. The Client may, within the allowed window, pay a fee to restore the same account number and continue their use of the Services;
2.1.18) “Overall Drawdown Limit” means the maximum allowable % loss from peak to trough for the entire account;
2.1.19) “Profit Split” the agreed percentage of net realised trading profits from the Funded Account that may be paid out to you;
2.1.20) “Party” shall mean either, the Client or Comit Capital as the context suggests; and “Parties” shall mean the Client and Comit Capital jointly;
2.1.21) “Services” means the services described in Clause 4, simulated CFD trading and, any and all forms of services rendered by Comit Capital to its Clients emanating from this Agreement;
2.1.22) “Trade” or “Trading” means any simulated trade placed by the Client whilst utilising the Services
2.1.23) “Verification” means Comit Capital’s verification stage wherein You validate your identity through straightforward Know-Your-Customer processes; and,
2.1.24) “Website” means www.comitcapital.com or any other URL owned or controlled by Comit Capital connecting the public with Comit Capital.

2.2) In this Agreement:

2.2.1) A reference to one gender includes a reference to the other two genders.
2.2.2) Words in the singular shall include the plural and vice versa, as context dictates.
2.2.3) The headings in this Agreement are inserted for convenience only and do not affect its interpretation.
2.2.4) If any provision in a definition is a substantive provision conferring rights or imposing duties on any Party, notwithstanding that it is only in the definition and interpretation clause, effect shall be given to it as if it were a substantive provision of this Agreement.
2.2.5) When this Agreement prescribes any number of days, they must be reckoned exclusively of the first and inclusively of the last day. If the last day falls on a day that is not a Business Day, it will be deemed to fall on the next Business Day.
2.2.6) References to “include” and “including” shall be interpreted as meaning “include without limitation” and “including without limitation”.
2.2.7) References to any statute including any regulations or other subordinate legislation issued under any statute shall be deemed to include references to such statute, regulations or other subordinate legislation as from time to time amended, supplemented, extended or replaced.

3. PURPOSE AND LEGAL NATURE

3.1) This Agreement governs the following:

3.1.1) The Client’s access to and use of the Services made available by Comit Capital;
3.1.2) The Client’s eligibility for allocation of a Challenge or Funded Account;
3.1.3) Any payout rights pursuant to a Profit Split;
3.1.4) The Client’s ongoing duties, conduct requirements, and restrictions; and,
3.1.5) Comit Capital’s rights to suspend, terminate, scale, or refuse to provide the Services.

4. SERVICES PROVIDED

4.1) The Services made available to the Client may include, but are not limited to:

4.1.1) Access to one or more trading challenges or evaluation programs designed to assess the Client’s trading skill, discipline, and risk management capabilities;
4.1.2) Verification processes;
4.1.3) Execution of Simulated trading activities using virtual balances and trading conditions that emulate real-market environments without the use of actual financial capital provided by the Client;
4.1.4) Access to Analytics, dashboards, reports, and performance tracking tools, including metrics related to profit targets, drawdown, consistency, and overall trading behaviour; and
4.1.5) Access to regulated broker infrastructure, and trading platforms through which simulated trades are executed and monitored, subject to the operational arrangements of Comit Capital and its partners.

4.2) At the sole discretion of Comit Capital, and upon the Client’s successful completion of all applicable requirements, including, but not limited to, passing the Challenge phase, completing Verification, and complying fully with the Hard Breach Rules and Simulated Trading Policies, the Client may be offered a Funded Account.

4.3) A Funded Account represents an opportunity for the Client to trade a virtual balance under live-simulated market conditions with profit-sharing privileges as determined by Comit Capital.

4.4) The allocation, structure, and continued maintenance of any Funded Account remain strictly at the discretion of Comit Capital, which reserves the right to amend, suspend, or revoke such accounts at any
time in accordance with this Agreement.

5. ELIGIBILITY, ACCOUNT SETUP, AND KYC

5.1) You confirm you are 18+ and that accessing these Services is legal in your country.

5.2) You may not use the Services if you are in a restricted or sanctioned jurisdiction or subject to international sanctions, or if you have a criminal record for financial crime or terrorism.

5.3) We may limit how many concurrent Challenges you can run under that Client Section and how much total Initial Capital you can access.

5.4) You agree to provide accurate and current information. You must update changes promptly. We may conduct AML / CDD checks. We may suspend or terminate access if you provide false, incomplete, outdated, or misleading information.

5.5) You must keep your login credentials secret. You may not share account access, resell access, or let someone else trade on Your behalf.

6. FEES, PAYMENT AND REFUNDS

6.1) The Client shall be required to pay the quoted fee to obtain access to a Challenge or to the Services provided under such Challenge.

6.2) The fee shall depend on the specific Challenge and/or account type selected by the Client and will be clearly displayed on the Website at the time of selection and checkout. Fees may vary based on account size, program structure, or other variables determined by Comit Capital.

6.3) The fee shall be payable in South African Rand (ZAR) or United States Dollars (USD), as quoted on the Website at the time of purchase.

6.4) All fees paid to Comit Capital are non-refundable, except in the instance the Client has paid a fee for a Challenge and is offered a Funded Account. The fee paid for the Challenge may be refunded however, Comit Capital will not offer refunds to Client’s who have purchased a Rescue prior to being offered a Funded Account.

6.5) Fees quoted are inclusive of applicable taxes. The Client is responsible for declaring and paying any tax obligations arising from payouts received.

7. THE CHALLENGE

7.1) Comit Capital offers a range of Challenges designed to evaluate the Client’s trading ability, discipline, and adherence to risk management principles. All available Challenge programs, including account types and associated parameters, are displayed on the Website and may be selected by the Client at their discretion.

7.2) Each Challenge includes a detailed description of the applicable rules, trading objectives, and behavioural standards, all of which must be strictly observed by the Client. Participation in a Challenge signifies full understanding and acceptance of these rules and any supplementary guidelines published on the Website,
the FAQs or Client Portal.

7.3) A Challenge shall be deemed to commence on the date the Client executes their first simulated trade on a Challenge Account. From that moment, this Agreement, all relevant trading conditions, limits, and evaluation metrics become fully binding.

7.4) Even for the purpose of a Challenge, the Client shall ensure their actions do not constitute a Hard Breach Rule violation.

7.5) Any breach of a Hard Breach Rule shall be deemed an automatic failure of the Challenge. Comit Capital reserves the right, at its sole discretion, to disqualify the Client, terminate the Challenge, and discontinue all associated Services without refund.

7.6) At Comit Capital’s sole discretion, a Client who has breached a Hard Breach Rule may be offered the opportunity to continue participation through a Rescue option.

7.7)
If a Rescue is granted by Comit Capital:

7.7.1) The Client will receive an automated notification and a Rescue account option will appear within the Client Portal;
7.7.2) The Client may be required to pay a fee for a Rescue account, as displayed at the time of activation;
7.7.3) The Client’s existing account number will be reinstated, and trading will resume from the same Challenge phase; and
7.7.4) All Hard Breach Rules remain in effect in perpetuity. Repeated or subsequent breaches will result in permanent disqualification and loss of eligibility for further participation.

8. FUNDED ACCOUNT

8.1) Successful completion of the Verification process does not automatically entitle the Client to a Funded Account. The provision of a Funded Account or proprietary capital allocation remains at the sole discretion of Comit Capital, which may offer or decline such allocation without obligation or explanation.

8.2) A Funded Account represents a discretionary opportunity to trade virtual capital under the Comit Capital’s proprietary structure and does not constitute an investment account, portfolio management mandate, or employment arrangement.

8.3) All virtual capital, balances, and funds associated with any Funded Account remain the exclusive property of Comit Capital.

8.4) The Client acts solely as an independent trader and shall not, under any circumstances, be deemed an employee, agent, fiduciary, or representative of Comit Capital.

8.5) Trading authorisation is conditional and may be monitored, restricted, suspended, or revoked at any time at the Comit Capital’s sole discretion. The Client acknowledges that such authorisation does not create any right to continued participation or remuneration beyond what is expressly stipulated in this Agreement.

8.6) At the sole discretion of Comit Capital, Clients demonstrating consistent and compliant trading performance may become eligible for scaling, or incremental capital allocation.

8.7) Scaling terms, which may include vitual allocations of up to USD 1 000 000 and a Profit Split of up to eighty-five to ninety percent (85–90%) are indicative only, subject to change, and contingent upon continuous adherence to all risk parameters, trading rules, and Company performance standards.

9. PROFIT SHARE, PAYOUTS & TAX

9.1) Once the Client successfully completes all evaluation requirements and is formally granted Funded Account, they shall become eligible to receive a Profit Split. In relation to any Profit Split, the Client is limited to a cap of 80% (eighty per cent) of the total account value of such Funded Account.

9.2) For all Funded Accounts, the applicable Profit Split ratio and percentage allocation between the Client and Comit Capital shall be as displayed on the Website and in the Client Portal at the time of account activation. The Client acknowledges that all Profit Split entitlements are subject to ongoing compliance with this Agreement.

9.3) Comit Capital reserves the right, at its sole discretion, to amend or revise the Profit Split ratio, payout frequency, or related terms from time to time. Where such changes materially affect existing Funded Accounts, the Client shall be notified through the Client Portal or by email prior to implementation.

9.4) The Client acknowledges and agrees to trade strictly below the daily profit cap, determined by account size, as follows:

9.4.1) 10% for R 500 000 / USD 25 000 accounts;
9.4.2) 5% for R 1 000 000 / USD 50 000 accounts;
9.4.3) 3% for R 2 000 000 / USD 100 000 accounts; and
9.4.4) 2% for R 4 000 000 / USD 200 000 accounts.

9.5) Provided that the Client has adhered to all trading and risk parameters, realised profits on the Funded Account shall be distributed in accordance with the Profit Split ratio specified for the relevant account type in the Client Portal.

For illustration:

If the applicable profit split is 75/25, seventy-five percent (75%) of the net realised profit shall be payable to the Client, and twenty-five percent (25%) shall be retained by Comit Capital as a performance and capital-provision fee. The only actual monetary flow occurs through the payment of the Client’s share of realised profits; all other allocations remain notional within the Funded Account.

9.6) If more than one (1) withdrawal request is submitted from the Client’s profile within any single calendar week, any subsequent withdrawal made during that same week shall be subject to a reduced outflow, whereby only fifty percent (50%) of the eligible payout amount shall be disbursed to the Client and the
remaining fifty percent (50%) retained by Comit Capital.

9.7) All payouts remain subject to verification of compliance with this Agreement, including anti-money laundering and counter-terrorist financing (AML/CTF) requirements. Comit Capital reserves the right to delay, reduce, or deny a payout where:

9.7.1) A breach or suspected breach of a Hard Breach Rule has occurred;
9.7.2) There is reasonable suspicion of misconduct; or
9.7.3) It is required to do so by law, regulation, or competent authority.

9.8) All verified payout requests shall be processed within five (5) business days, subject to internal compliance review, risk assessment, and completion of any required anti-money-laundering (AML) or counter-terrorism-financing (CTF) procedures. Payouts shall be effected via supported payment methods, including bank transfer or cryptocurrency, net of applicable transaction fees and processing costs.

9.9) In such circumstances, Comit Capital may, at its discretion, withhold payment pending investigation or permanently deny payout if a violation is confirmed.

9.10) The Client acknowledges that all payouts received under this Agreement may constitute taxable income in the Client’s jurisdiction. The Client shall be solely responsible for declaring, reporting, and remitting all applicable taxes. Comit Capital reserves the right to withhold, deduct, or report such amounts to relevant authorities as required by law.

10. HARD BREACH RULES & SIMULATED TRADING POLICIES

10.1) Simulated-Trading frequency, Inactivity & Percentages

The Client shall engage in trading activity on a minimum of three (3) separate trading days within each calendar month, ensuring that at least one (1) position is opened on each such day. Failure by the Client to open a position within thirty (30) consecutive days from account activation, or within thirty (30) consecutive days following the closure of the last open position, shall constitute inactivity. In such circumstances, Comit Capital reserves the right, at its sole discretion, to suspend or terminate the trading account and this Agreement due to inactivity.

10.2) Risk Management

The Client shall manage all trading activity in a prudent and responsible manner and shall ensure that the maximum daily aggregated loss on the Funded Account does not exceed the percentage stipulated for the specific account type as published on the Client Portal. The daily aggregated loss shall include all open and closed positions for the trading day. Exceeding the permitted daily loss threshold constitutes a material breach of this Agreement.

10.3) Capital Maintenance

The Client shall at all times maintain the value of the Funded Account at not less than ninety percent (90%) of the initial virtual capital assigned to the account. This calculation shall include all open and closed
positions, as well as any applicable commissions, swaps, or fees. A breach of this minimum equity requirement shall be deemed a violation of the trading parameters and may result in immediate termination of the trading account without refund.

10.4) Trading Hours

The Client shall only execute trades on the Funded Account during the official trading hours of the relevant instrument as determined by the underlying market. Trading outside of these hours is strictly prohibited, except during the standard two-hour rollover period that occurs on weekdays. Trades executed outside permitted trading hours may be invalidated or result in disciplinary action.

10.5) Macroeconomic Releases

The Client shall refrain from opening positions within five (5) minutes before, and five (5) minutes after, the scheduled release of any macroeconomic or high-impact economic announcement.
For illustrative purposes, if a release is scheduled for 14:30, the Client shall not enter trades between 14:25 and 14:36. Any trades executed in violation of this clause may be voided, and profits derived therefrom may be cancelled at Comit Capital’s discretion.

10.6) Scalping Prohibited

The Client shall not engage in scalping practices, defined as the opening and closing of trades, held for less than ten (10) minutes during active market times. Scalping activity is strictly prohibited under all circumstances. Any profits identified as originating from scalping shall be subject to reversal or cancellation, and the trading account may be terminated immediately with forfeiture of any accumulated profits.

10.7) Daily and Overall Drawdown Limits

The following maximum drawdown parameters shall apply to the respective account types:
- One-Step Challenge: Daily drawdown limit of four percent (4%) and overall drawdown limit of six percent (6%);
- Two-Step Challenge: Daily drawdown limit of five percent (5%) and overall drawdown limit of ten percent (10%); and,
- Instant Funding: Daily drawdown limit of three percent (3%) and overall drawdown limit of five percent (5%);

breaching any of the above drawdown limits constitutes a material breach of this Agreement and shall result in the immediate termination of the trading account without refund or reinstatement.

10.8) Consistency Rule

The Client shall conduct all trading activity in a consistent manner such that no single Trading day’s net profit exceeds forty (40) percent of the total net profit achieved since the Client’s last withdrawal.
- For example, if the total net profit generated on your account since you began trading is R50,000, your largest single-day profit may not exceed R20,000 (R50,000 × 40%). Likewise, if the total net profit
  generated on your account since your last withdrawal or payout is R50,000, your maximum permitted single-day profit remains R20,000 (R50,000 × 40%).
  To promote safe and responsible trading practices, any violation of this rule will attract the following consequences:
First Violation: The trading account may be terminated or fined an amount equivalent to the percentage by which the 40% threshold was exceeded.
- Example: If your consistency ratio is 60%, you will be fined 20% (the portion above 40%) of the withdrawable profit.
Second Violation: The trading account will be terminated without eligibility for a refund or reset to the challenge stage.

10.9) One-Sided Accumulation

The Client shall not engage in one-sided accumulation, meaning the opening or holding of multiple positions in the same direction on a single instrument or correlated instruments for the purpose of amplifying exposure beyond reasonable trading risk. All trading activity must reflect balanced position management consistent with controlled and responsible trading practices. Any instance of one-sided accumulation shall be deemed a breach of trading conditions and may result in the termination of the trading account or forfeiture of profits at the Company’s discretion.

10.10) Gap Trading

The Client shall not engage in gap trading, being the practice of opening or holding positions immediately before market close or during illiquid periods with the intention of exploiting potential price gaps at market open. Trading activity of this nature is strictly prohibited. Any profits resulting from gap trading may be invalidated, and the account may be terminated or penalised at Comit Capital’s discretion.
- For example: Placing Trades within one (1) hour before market close, to take advantage of a gap at market open.

10.11) If Comit Capital determines, in its sole discretion, that the Client has breached a Hard Rule, it may, without prior notice and without any obligation to issue a refund, exercise one or more of the following sanctions:

10.11.1) Deem the Client’s Challenge have failed;
10.11.2) Exclude any violating trades from performance or profit calculations;
10.11.3) Withhold or recover any payouts, profits, or withdrawals derived from such trades;
10.11.4) Reduce or amend the leverage available to the Client;
10.11.5) Suspend, restrict, or permanently terminate the Client’s Challenge, Funded Account, or access to the Client Portal; and/or
10.11.6) Prohibit the Client from any future participation in a Challenge or engagement with Comit Capital’s Services.
10.12) Manipulation
10.13) The Client shall not engage in, whether alone or in concert with any other person, any trading behaviour the purpose or effect of which is to manipulate simulated market conditions, distort performance metrics, or circumvent the design of the Challenge or Funded Account.
10.14) Without limitation, manipulation includes:
- 10.14.1) coordinating trades between multiple accounts, whether held by the Client or by connected persons;
- 10.14.2) simultaneously or sequentially entering opposite positions across different accounts;
- 10.14.3) placing trades intended to artificially generate or neutralise profit or loss; and
- 10.14.4) engaging in any scheme, pattern, or arrangement which, in Comit Capital’s sole discretion, constitutes gaming, manipulation, or abuse of the simulated trading framework.

11. DISPUTE RESOLUTION

11.1) Any dispute between the Parties arising out of this Agreement will, on written demand by either party, be submitted to arbitration in Cape Town in accordance with the Arbitration Foundation of Southern Africa (“AFSA”) rules.

11.2) Any Party to the arbitration may review the decision of the arbitrator or arbitration in terms of the AFSA rules for arbitration.

11.3) Any arbitration in terms of this clause shall be conducted in camera and will be treated as confidential details of the dispute submitted to arbitration, the conduct of the arbitration proceedings and the outcome of the arbitration.

11.4) This clause shall continue to be binding on the Parties despite the termination or cancellation of this Agreement.

12. DISCLAIMER OF WARRANTIES

12.1) The Client acknowledges and agrees that all Services, platforms, tools, data, and related content are provided on an “as is” and “as available” basis, inclusive of any faults, errors, or omissions. The use of such Services and content is entirely at the Client’s own risk. To the maximum extent permitted by applicable law, Comit Capital disclaims all statutory, contractual, express, or implied warranties of any kind, including but not limited to warranties of quality, merchantability, fitness for a particular purpose, and non-infringement of third-party rights.

13. LIMITATION OF LIABILITY

13.1) To the fullest extent permitted by law, Comit Capital shall not be liable for any loss or damage of any nature whatsoever arising out of or in connection with the use of, or inability to use, the Services, including but not limited to any indirect, incidental, special, punitive, or consequential damages; loss of profits or revenue;
loss of data; personal or non-monetary harm; or property damage. Comit Capital further accepts no liability for any products, services, applications, or other third-party content accessed or utilised by the Client in connection with the Services.

14. SERVICE MODIFICATIONS

14.1) Comit Capital reserves the right, at any time and without prior notice or compensation, to modify, update, replace, suspend, or remove any aspect, functionality, or component of the Services. Such modifications shall not constitute a breach of this Agreement and shall not give rise to any claim for damages or restitution.

15. FORCE MAJEURE

15.1) Comit Capital (Pty) Ltd shall not be liable or deemed in breach of this Agreement for any delay or failure in performance resulting from circumstances beyond its reasonable control, including but not limited to technical or operational disruptions, natural disasters, acts of war or terrorism, insurrection, civil unrest, pandemics, government actions, regulatory changes, or other events of force majeure. In such cases, Comit Capital may suspend or terminate the provision of Services without liability or obligation to refund.

16. TERMINATION

16.1) Comit Capital may immediately and without notice terminate the Services if:

16.1.1) the Client provides false or misleading information;
16.1.2) the Client harms or attempts to harm, directly or indirectly, Comit Capital’s reputation; and/or
16.1.3) the Client is located in or becomes associated with a restricted jurisdiction, sanction list, or financial-crime risk.

16.2) A Party to this Agreement may at any time terminate this Agreement by giving 30 (thirty) Days’ notice in writing to the other Party.

16.3) Without prejudice to any other rights that the Parties may have in law, the Parties shall be entitled to terminate this Agreement by written notice having immediate effect if –

16.3.1) a Party is in material breach of this Agreement and either such material breach is incapable of remedy or, if the breach is capable of remedy, the defaulting party has failed to remedy such breach within 48 (forty-eight) hours of receiving written notice requiring it to do so;
16.3.2) required by law, rule, a competent authority, or a government body to do so;
16.3.3) a Party is in breach of this Agreement, and fails to remedy such breach within 10 (ten) Days after having been given notice to do so by the other;
16.3.4) a Party commits any fraudulent act or omission or is found guilty of any crime involving dishonesty.

16.4) Should this Agreement terminate for the reason of any breach of a material term by the Client, the Client shall not be entitled to receive any refunds in respect of the Fees and Charges for any Services rendered
during any term of this Agreement.

17. INDEMNITY

17.1) In addition to and without prejudice to any other indemnity or obligation contained or contemplated in this Agreement, the Client hereby indemnifies Comit Capital, its directors, partners, officers, employees, representatives and agents and holds them so indemnified and harmless in full against any claim, including but not limited to legal costs incurred in defending any third-party claims or enforcing this indemnity, by any third party against Comit Capital, attributable to or arising, whether directly or indirectly, from the Client’s fault or negligence or default in respect of any of its obligations in terms of this Agreement or attributable to or arising from any act or omission on the part of Comit Capital.

18. WHOLE AGREEMENT AND AMENDMENTS

18.1) Comit Capital reserves the right to make changes to this Agreement and shall be entitled to update, modify, amend, or suspend all or any part of its Services and other Policies as located on the Website, as necessary, and may do so either with or without prior notice to the Client.

18.2) Save as aforesaid, this Agreement constitutes the entire Agreement between the parties regarding the subject matter hereof and neither Party shall be bound by any undertakings, representations, warranties, or the like not recorded herein.

18.3) Comit Capital shall not be bound by any undertaking, representation, declaration, statement, confirmation, acknowledgement, warranty or the like by the Client contained in any application for an investment by a Client or prospective Client or other documentation relating to an investment made by a Client.

18.4) Subject to any specific provision to the contrary in this Agreement, no other amendment of, variation or addition to or deletion from this Agreement shall be of any force or effect, unless recorded in writing and signed by a duly authorised official of Comit Capital.

19. GOVERNING LAW AND JURISDICTION

19.1) This Agreement shall be governed by and be construed in accordance with the laws of the Republic of South Africa.

19.2) The Client hereby consents to the jurisdiction of the Magistrate’s Court in connection with any action or suit arising from or in connection with this Agreement or the cancellation thereof.

19.3) No legal proceedings relating to the Agreement shall be instituted or commenced against Comit Capital until 14 (fourteen) Days have expired after the delivery such notice to Comit Capital at its domicilium citandi et executandi of a written statement giving particulars and the amount of the claim against it.

20. DOMICILIUM AND NOTICES

20.1) The Parties choose their registered company address or residential address as their respective domicilium citandi et executandi for the purposes of the giving of any notice, the payment of any sum, the serving of any process and for any other purpose arising from this Agreement.

21. CONFIDENTIALITY

21.1) The Client may be provided with information of a confidential, sensitive and proprietary nature.

21.2) The Client acknowledges that the foregoing are valuable confidential and proprietary property and concepts belonging to and/or conceived by Comit Capital and that the Client has no proprietary interests whatsoever therein.

21.3) The Client further acknowledges that by receiving access to such information, it is entering into a relationship of trust and confidence with Comit Capital. Accordingly, during the term of this Agreement and after the termination hereof, however arising, the Client shall hold in strictest confidence all proprietary information and confidential information which the Client might be given access to during the course of his relationship with Comit Capital and shall only use any such information in a manner strictly required in terms of this Agreement or agreed to by Comit Capital in writing.

21.4) Should the Client breach the confidentiality requirements and trust relationship described above, or in any other way whatsoever, such breach shall be a material breach and Comit Capital may without prejudice to any other right that it may have in terms of this Agreement or in law, be entitled to summarily terminate this Agreement, notwithstanding any other provision of this Agreement.