Transactional Terms and Conditions
Effective for the following forms/transactions: ACAT Only Transfer, Closely Held Acknowledgement Letter, Depository Transfer, Digital Currency Sale, General Buy Direction Letter, General Sale, Internal Account Transfer, Mutual Fund Exchange, Note Amendment Extension & Modification, Precious Metals purchase, Precious Metals Exchange, Precious Metals Sales, Publicly Traded Securities Conversion, Real Estate purchase, and Transfer Form.
Terms:
I confirm that I am directing New Direction Trust Company (NDTCO), the Custodian, to complete this transaction as specified above. I understand that my account is self-directed, and I take complete responsibility for any investment I choose for my account, including the investment specified in this Form. I understand NDTCO does not sell or endorse any investment products, and that the Custodian is not affiliated in any way with any investment provider. I understand that the role of NDTCO is limited, and its responsibilities do not include investment selection for my account. I certify that I have done my own due diligence investigation prior to instructing NDTCO to make this investment for my account. I understand that acceptance of Custodial Assets by NDTCO should not be construed as a favorable opinion as to the prudence or suitability of the investment for the Account Holder’s IRA. NDTCO’s review of any asset the Account Holder desires to purchase and hold in their Custodial Account should in no way be construed as a “due diligence” review. I understand NDTCO does not determine whether this investment is acceptable under the Employee Retirement Income Securities Act (ERISA), the Internal Revenue Code (IRC), or any applicable federal, state, or local laws, including securities laws.
I understand that it is my responsibility to review any investments to ensure compliance with these requirements. I acknowledge that the Custodian has not provided or assumed responsibility for any tax, legal or investment advice with respect to this investment, and I agree that Custodian will not be liable for any loss which results from my decision to purchase the investment. I understand that in processing this transaction NDTCO is only acting as my agent, and nothing will be construed as conferring fiduciary status on them. I agree that NDTCO will not be liable for any investment losses sustained by me or my account as a result of this transaction. I agree to indemnify and hold NDTCO harmless from any and all claims, damages, liability, actions, costs, expenses (including reasonable attorneys’ fees) and any loss to my account as a result of any action taken in connection with this investment transaction or resulting from serving as the Custodian for this investment, including, without limitation, claims, damages, liability, actions and losses asserted by me.
Arbitration of Claims—ARBITRATION OF DISPUTES. PLEASE READ THIS ARBITRATION PROVISION CAREFULLY. IT PROVIDES THAT ANY CONTROVERSY OR DISPUTE BE RESOLVED BY BINDING ARBITRATION. ARBITRATION REPLACES THE RIGHT TO GO TO THE COURT, INCLUDING THE RIGHT TO A JURY AND THE RIGHT TO PARTICPATE IN A CLASS ACTION OR SIMILAR PROCEEDING.
Agreement to Arbitrate. The depositor and NDTCO and/or NDIRA agree that either the depositor or NDTCO and/or NDIRA may, without the other party’s consent, require that any claims between them be submitted to mandatory, binding arbitration.
Claims Subject to Arbitration included but are not limited to: Any controversy arising out of or relating to this agreement or the breach thereof, or to the IRA or any transactions authorized by the depositor and/or their agent as well as any claim that may arise regarding your Custodial Assets.
Arbitration location, finality, procedures, waiver of jury trial, class action or any representative action. The depositor agrees that Arbitration will occur in Johnson County, Kansas according to the commercial rules of the American Arbitration Association. The depositor agrees that Arbitration is final and binding on both parties. The depositor and NDTCO and/or NDIRA are voluntarily waving their right to seek remedies in court, including their right to a jury trial. Claims made as part of a class action or other representative action, and the arbitration of such Claims must proceed on an individual, non-class, and non-representative, basis. If the depositor or NDTCO and/NDIRA require arbitration of a particular Claim, neither party nor any other person, may pursue the Claim in any litigation, whether as a class action, private attorney general action, or other representative action. Pre-arbitration discovery is limited than and different from court proceedings. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions will nevertheless remain in force.
LIMITATION ON LIABILITY; WAIVER OF PUNITIVE DAMAGES. IN NO EVENT SHALL ANY PARTY HAVE A REMEDY OF, OR BE LIABLE TO THE OTHER FOR, (1) INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES OR (2) PUNITIVE OR EXEMPLARY DAMAGES. THE SAME OF THE PARTIES HEREBY EXPRESSLY WAIVES ANY RIGHT OR CLAIM TO PUNITIVE OR EXEMPLARY DAMAGES THEY MAY HAVE OR WHICH MAY ARISE IN THE FUTURE IN CONNECTION WITH ANY SUCH PROCEEDING, CLAIM OR CONTROVERSY, WHETHER THE SAME IS RESOLVED BY ARBITRATION, MEDIATION, JUDICIALLY OR OTHERWISE.
I understand that if this Form and any accompanying documentation are not received as required, or if received are unclear in the opinion of NDTCO, or if there are insufficient undirected funds in my account to fully comply with my instructions to purchase the investment and to pay all fees, they will not process this transaction until proper documentation, sufficient funds, and/or clarification is received, and NDTCO will have no liability for loss of income or appreciation due to the delay in processing.
I understand that all communication regarding this transaction must be in writing and acknowledged by me or by my authorized agent on my behalf, and that no oral modification of my instructions will be valid. I understand that no person at NDTCO has the authority to modify any of the foregoing provisions. I certify that I have examined this Form and any accompanying documents or information, and to the best of my knowledge and belief, it is all true, correct, and complete.
I understand transactions with insufficient funds will not be processed until sufficient funds are received. If fees are being deducted from my account, the full amount of the transaction plus fees must be available before the transaction can be processed.