As a part of our continued effort to make your investing experience convenient and compliant we have updated our Terms & Conditions.
Key changes include:
Change of Company Name
We have changed the name of our Singapore corporate entity that you are transacting with from “Endow.Us Pte. Ltd.” to “Endowus Singapore Pte. Ltd.”.
Rectification of Errors and Effecting of Corporate Actions
Your express authorisation of Endowus as your attorney to effect corporate actions in relation to your investments such as attending meetings of shareholders and exercising voting rights in respect of your units, to correct any errors or omissions (including to debit your account to reverse any erroneous transaction) and where necessary, to comply with applicable laws.
Transparency on Fees Payable
To bolster transparency on the fees payable in respect of the services we provide to you, we will state on www.endowus.com/pricing or otherwise inform you separately from time to time details of such fees, which may include any commissions, service charges, processing or administrative fees levied by banks or other service providers.
Addition of Introduction or Referral Terms and Conditions
New means of serving our clients are coming your way. We have now created specific terms and conditions that will automatically be applicable when you have been introduced or referred to Endowus by a third party, or where we provide you with services together with our related, associated or affiliated corporations. For the avoidance of doubt, this does not affect our existing services.
We have clarified in the updated Terms & Conditions that we will have discharged our liability to all joint account holders if we fulfil our obligations to any one or more of such joint account holders.
Opening of Account as Trust or as Nominee
We now facilitate the opening of accounts as part of a trust where you may act in the capacity of a trustee or where you are a nominee. Should you be opening an account with us as a trustee or as a nominee, specific terms and conditions have been created under the updated Terms & Conditions which shall apply to you.
To better provide our services in respect of recurring investments made through our platform, we have set out our terms and conditions which will apply in respect of your recurring investments under Clause 7.10 of the General Terms & Conditions.
Brokerage and Custody Arrangements
Due to our potential reliance on third parties, including brokers, custodians and other intermediaries in delivering our services to you, we have included more detailed provisions that set out the terms governing such arrangements, including but not limited to your responsibility to reimburse Endowus for expenses incurred by Endowus or its intermediaries in its provision of services to you, your acknowledgment that assets in your portfolio and any cash balance may be held in SGD and/or USD terms (or such other currencies as Endowus may deem appropriate) and that your investments may be held by a broker and/or custodian in an omnibus account intermingled with investments of other customers, as well as the risks of such arrangement. We will however, maintain records of your assets and furnish you with periodic statements in respect of your investments or assets. Please note also that Endowus shall not be responsible for any losses suffered or incurred by you as a result of any act, omission, default, insolvency, error or negligence of such intermediaries.
Instructions (including Email Instructions)
To streamline our processing of instructions from clients and transactions on our platforms, we have included specific terms and conditions and set out procedural matters that will apply to your provision of instructions to us and in particular, instructions communicated to us via emails. We draw your attention to the risks of providing instructions to us via email and in particular, Endowus shall be indemnified for any loss, liability or damage suffered by you or any third party arising from such email instructions.
Client Knowledge Assessment
We have refined the process for clients wishing to invest in unlisted Specified Investment Products (as defined in the MAS Notice FAA-N16 on Recommendations on Investment Products) but do not meet the relevant knowledge or experience requirements as determined by us in accordance with regulatory requirements.
We have updated our processes to render your account dormant if there has been no activity therein for a period of 2 years and the provisions in the Terms & Conditions relating to dormant accounts shall apply thereafter accordingly.
Termination of our services
As part of our ongoing efforts to adhere to regulatory standards and best practices, we have extended our rights to terminate your account or our provision of services to you where, inter alia, there are changes in any applicable laws or regulations or if in our opinion, the performance of our obligations or provision or continued provision of our services shall be illegal, might constitute a breach of our policy, or not in accordance our usual business practice and procedure.
General update to comply with regulatory requirements
We have done a thorough review of the Terms and Conditions to ensure legal and regulatory compliance. This includes additional warranties we require from our clients that:
you are not a U.S. Person as defined under Regulatory S under the United States Securities Act of 1933;
you nor any person who may make investment decisions in relation to your account is located in the European Economic Area; and
if you are not resident in Singapore, you have sought the provision of services under the Terms & Conditions from Endowus and you have not been solicited, targeted or marketed to by Endowus in relation to the provision of such services.
You don’t have to do anything to accept these changes. Continued use of Endowus from 22 November 2022 constitutes acceptance and understanding of our updated Terms and Conditions, which you can find in full here. The above sets out and summarises key changes which we consider may be of interest to you and we would recommend that you read our updated Terms and Conditions for full details on the provisions that may apply to you.
If you have any further questions, please reach out to our Client Experience Team by email at email@example.com.