Terms & Conditions

Instructions from Clients must be issued to the appropriate representative of AIB-AXYS in writing and delivered via hand, registered post, telephone, or email. Electronic communications must be confirmed as received by AIB-AXYS to be considered validly instructed. Clients accept the risk of misunderstandings or errors in transmission of instructions and will notify AIB-AXYS in a timely manner.

Notwithstanding any provision in these Terms and Conditions, acting on instructions by AIB-AXYS shall be sufficient evidence of receipt of instructions notwithstanding that AIB-AXYS did not respond to any such communication.

AIB-AXYS shall not be liable for errors or to compensate the Client by mere fact that an error occurred. AIB-AXYS will undertake reasonable efforts to verify oral instructions and reserves the right to request such verification and to refuse to act on unclear or impractical instructions or instructions not provided through the proper channels.

Phone conversations may be recorded for compliance and evidence subject to internal privacy and data protection policies. Clients must verify transaction details upon receipt and notify AIB-AXYS of any discrepancies within 48 hours.

Instructions received after normal trading hours will be treated as received on the next day on which the NSE is open for trading.

AIB-AXYS aims to secure the best execution prices in the market but may aggregate client orders with others to the extent permitted by law. Where there is a limited supply or market for a security, AIB-AXYS makes no assurance for equality among all client accounts, but will use its best efforts to fairly allocate opportunities among all accounts

The Client acknowledges that the systems used in the market by the NSE and AIB-AXYS are vulnerable to disruption or malfunction which may result in instructions not being executed or being delayed due to unforeseeable circumstances. The Client releases AIB-AXYS from liability for any loss, damage or liability suffered by reason of or in connection with such disruption or system. All transactions are subject to regulatory compliance.

Client funds, including deposits, dividends, and proceeds from disposals, will be credited to the designated client bank account in the Client's name and specified in the account opening form or to such alternate bank account in the Client's name as may be directed by the Client through prior written instructions properly given to AIB-AXYS.

If a client instructs payment to be made to different bank accounts, then such client assumes all risks in relation to such payment and shall not hold AIB-AXYS liable for any claims arising from such third-party payment instructions.

All payments on account of a client must be supported by a purchase transaction. All requests for remittance of unutilized funds received or held by AIB-AXYS shall be subjected to AML checks & internal approvals.

AIB-AXYS reserves the right to delay such payments until satisfaction of applicable AML checks and internal approvals.

Clients must ensure payments are made directly to AIB-AXYS's accounts and not through intermediaries, staff or other third parties. AIB-AXYS will not be able to monitor or verify such transactions and is not responsible for losses from such third-party transactions. Accordingly, the Client indemnifies AIB-AXYS in relation to any such related loss in accordance with the provisions of clause 16.

Access to the AIB Platforms shall be granted on a limited, non-exclusive, revocable, non-transferable and personal license and through the creation of an online account for the personal use of the Client (the Online Client Account).

The Client shall:

• be responsible for keeping its access credentials to the Online Client Account strictly confidential;
• notify AIB-AXYS immediately of any loss, theft or unauthorized use of the Login ID or the Password;
• not use the Online Client Account to train or service third parties or in a manner that would overburden AIB-AXYS's servers;
• not use any communication feature of the Online Client Account for any purpose that is unlawful, libelous, defamatory, obscene, threatening or otherwise abusive;

The Client hereby expressly authorizes AIB-AXYS to rely and act on any instruction issued through the Online Client Account that AIB-AXYS believes has been properly issued by the Client.

The Client understands that there are risks inherent to any investment and confirms that the Client is solely responsible for determining the suitability of an investment based on their financial situation, objectives, and risk tolerance. AIB-AXYS does not act as an advisor or fiduciary unless expressly agreed upon.

The Client agrees that all investment decisions are based on the Client's own evaluation of each transaction. This extends to any decision made by the Client on the basis of any information that may be made available by AIB-AXYS to the Client or the general public whether on its website or through any other media.

In all matters in these terms and conditions the Client agrees that AIB-AXYS will not be liable to the client for any loss suffered as a result of good faith actions exercised by AIB-AXYS with due care, diligence and skill expected of a reasonably prudent stockbroker.

The Client agrees to pay all fees, commissions, levies and charges associated with the brokerage services as outlined in AIB-AXYS's fee schedule (the Fees). Where applicable fees shall be subject to VAT and other taxes.

AIB-AXYS is authorized to immediately debit, set off and/or deduct the Fees (at applicable rates not exceeding the maximum allowable by law) from funds held by it. Such rates may vary for different investments.

AIB-AXYS reserves the right to update its Fee structure at any time, with prior notice to the Client (the Fee Schedule). The Fee Schedule shall be available upon request and on the website of AIB-AXYS.

Where AIB-AXYS enters fee-sharing arrangements with affiliated brokers to carry out Client's instructions, fees for such services (as outlined in the Fee Schedule) may be deducted from Client accounts. The Client remains liable to settle all outstanding fees on termination of this appointment.

AIB-AXYS is under no obligation to place any purchase order unless it holds clear funds in the Client's Brokerage Account sufficient to settle the order and applicable Fees.

In the event that the Brokerage Account does not have sufficient funds to satisfy a purchase order then AIB-AXYS is authorized to (i) reduce the size of the order to match the cleared funds in the Client's brokerage account or (ii) settle the additional amount required (the Debit Balance) and to charge compound interest on the Debit Balance at the rate of 1.5% per month.

The Client shall make a written request to AIB-AXYS to receive proceeds from sale transactions and any unutilized credit balances held in the Brokerage Account in the event they require their funds. AIB-AXYS will make reasonable efforts to remit the funds within agreed timelines.

To receive payment for Securities sold within a specified period, funds shall be available for payment 4 days from the date of completion of the sale (T+4). Once available, funds will generally be paid one (1) day after a payment request has been properly made and received by AIB-AXYS.

Where a Brokerage Account or CDS Account is held jointly or by trustees, the person who signs on as the client will remain the principal contact and authorized person to provide instructions. This will apply where the Client acts on behalf of a third-party and despite any disclosure of such arrangement to AIB-AXYS.

AIB-AXYS is liable only for losses due to willful misconduct, fraud, or gross negligence of AIB-AXYS or its officers and staff.

The Client hereby agrees to indemnify and hold AIB-AXYS and its respective officers, directors, shareholders, employees, affiliates, agents and other representatives harmless from and against any and all direct or indirect losses arising due to market fluctuations, external third-party failures, or other similar indirect causes.

Either party may terminate this appointment without penalty. Termination does not affect obligations which become due prior to termination.

If AIB-AXYS ceases to be an NSE member, the appointment terminates automatically in accordance with its license conditions and is subject to any applicable regulator directions.

AIB-AXYS is not liable for failure or delay in fulfilling obligations due to unforeseen circumstances beyond its control, including without limitation: acts of God, war, sabotage, riots, strikes, judicial actions, government actions, pandemics, natural disasters, and system failures.

AIB-AXYS may collect and process personal information from our customers to provide and improve our services. We value privacy and are committed to maintaining confidentiality and security of data in adherence to data protection laws in Kenya.

Information may be shared with specific third parties solely for processing and enhancing services. We do not resell customer data. By agreeing to these Terms, customers consent to data collection and sharing as described.

Any notices shall be in writing and deemed delivered on the date personally delivered or mailed.

All correspondence to AIB-AXYS shall be addressed to: