DISCLAIMERTrisman Cross Shore Advisory, is the offshore services division of the Trisman company (Trisman Trading Risk Management LLC www.trisman.com ), All Legal Terms hereby are complementary to Trisman.com Terms and Conditions.
The contents of Trisman website is for general information only and does not constitute legal or other professional advice. Every reasonable care has been taken to ensure that the information given on our sites is accurate and up-to-date, and we cannot accept responsibility for any consequences whatsoever arising out of reliance upon or usage of such general information as aforesaid. Your use of any of our site does not create attorney/consultant/advisor – client relationship with Trisman, nor does such use constitute the receipt of legal or other professional advice from Trisman. All users of our site, whether or not the users are existing clients of Trisman, are advised to Contact Us and/or to take appropriate professional advice before committing themselves to any act or taking any decision regarding services requested.
If you provide us with personal data, such as address, e-mail, telephone or fax numbers, demographic or client identifications, this information will not be disclosed by us, nor will it be shared, sold or announced to any third party, unless we inform you about it and always subject to your consent, or unless we are required to do so in virtue of legal regulations.
This information, like the information about your business activities and transactions, will be kept by us in accordance with our usual strict security standards and confidentiality principals.
TERMS AND CONDITIONS
PreliminaryEverything offered by Trisman, including this web site, services, work and goods, is subject to the following terms and conditions and also to the terms and conditions of Trisman Trading Risk Management LLC. If you continue to browse and use this website, services, work and goods, especially if you contact Trisman or submit an order, you agree to comply with and be bound by the following terms and conditions of use, which govern Trisman's relationship with you (hereinafter called client). Verbal agreements or changes to these terms gain legal power only after their written adoption by Trisman. Trisman reserves the right to alter, change, add, amend, delete or replace these terms, services, work, goods, fees and prices without prior notice at any time.
Company formation servicesTrisman offers its clients the assistance to incorporate company structures. Unless otherwise noted company formation services refer to the incorporation of a corporation. Any and all reporting, auditing, accounting and tax payment requirements remain within client's liability even and especially when nominee services are used. Annual fees apply depending on the date and jurisdiction of incorporation and must be paid by the client prior the due date. Failure to pay in time may result in late payment penalties, service interruption and dissolution of the company through the relevant government body. If client decides to not renew the company and instead have his file closed an undisclosed closing fee will apply. In case a desired name is not available or not permitted due to any reasons, the client has to provide Trisman with alternative names. The order cannot be cancelled due to unavailability of a desired name. Trisman will not charge any additional expenses for finding an alternative company name allowed and available.
Account opening servicesTrisman offers its clients the assistance to open bank accounts and merchant accounts. Client agrees to the following terms and definitions. "Bank account" means an account with a financial institution that allows to receive and send bank wire transfers. Debit cards, letters of credit, check depositing, investments and other services may be offered by the financial institution depending on the selected jurisdiction of account opening, the jurisdiction of company formation, the company structure, the company's financials, the company's business activities and other facts. "Merchant account" means an account with a financial institution that allows to charge credit cards. Trisman is not a bank or financial institution. Any and all accounts opened are set up with external financial institutions. Neither Trisman nor a nominee have ownership or access to funds on such accounts. Neither Trisman nor a nominee have access to the accounts or influence on any operations. Sole responsibility for all operations undertaken through such accounts is with the client. Trisman is not opening accounts on behalf of the client but assisting during the account opening process. The final decision to open an account as well as completion and signing of any and all agreements lies with the client. Unless otherwise explained, the account opening service of Trisman outlined in this paragraph does not include account opening fees (if any) of the relevant financial institution. It does not include initial deposits or any other charges that may apply. The account opening service charges of Trisman do not include certificates required by financial institutions. Unless otherwise agreed between Trisman and client each order shall include free consultation as well as free order processing and administrative services. If an account application is declined by the financial institution although client had all requested documentation and information thoroughly completed and promptly submitted, Trisman will not credit back the account opening fee paid by the client.
Virtual office servicesTrisman offers its clients virtual office services. Unless otherwise agreed between Trisman and client each order shall include free consultation as well as free order processing and administrative services. Annual fees and handling charges apply as shown on the virtual office information page of this web site. Client indemnifies Trisman from any and all liability for mail, phone calls and faxes received or forwarded. Mail is forwarded by first class mail or airmail and Trisman does not guarantee delivery. For privacy protection Trisman does not store names of senders. Client cannot use virtual office services as registered office for company formation unless written approval of Trisman. Client cannot use virtual office services to ship cash, drugs, weapons, explosives or other restricted material. Client cannot use virtual office services for bulk mailings, spam, storage location or freight forwarding.
General order processingUnless otherwise agreed in writing Trisman will start order processing only after receipt of full payment and documents required. Client shall not consider a payment to be received by Trisman until he received a written payment receipt. If payment status is unclear Trisman encourages client to call for verification. Where booking is delayed due to incomplete or incorrect wire details the payment shall be considered as received on the date finally booked by Trisman. Unless and prior full payment is confirmed by Trisman the client shall not have any claims in regard to services and work provided by Trisman. Any dates and time constraints quoted for order processing are, without exception, empirical data and shall not be binding to Trisman. Dates and time constraints quoted for order processing do not include processing of KYC (Know Your Customer) nor unforeseen difficulties such as but not limited to unavailability of desired company names. Services, work and goods ordered are considered to be rendered and completed when sent to the address provided by the client. Client accepts any and all risks of delivery. The client can choose a shipping option such as electronic mail, regular mail, recorded airmail or courier. Trisman may engage subcontractors to provide services, work and goods. Trisman has the right for a partial execution of an order. In such case Trisman will refund the fees for services not rendered.
Bank charges, chargeback costsFor amounts of less than 150 Euro paid by bank transfer client accepts a handling charge of 20 Euro. Said charge is waived if payment is made by credit card. For credit card chargebacks or investigations client accepts a processing fee of 200 Euro. Client agrees that a credit card chargeback request - regardless if for a partial or full chargeback - puts his order back into unpaid status and any services rendered by Trisman may be cancelled with immediate effect, withdrawn or sold to third parties.
Know Your Customer policy, herein referred to as "KYC"As a service provider for company formation Trisman is required by international laws and anti-money-laundering regulations to have a so called Know-Your-Customer policy in place. Client agrees to actively assist and to provide true and complete information and documentation about business activities and involved parties. Such information includes proof of identity (like passport) and proof of address (like utility bills) but depending on the selected services and jurisdictions shall not be limited to the aforementioned.
Fair use policyUnless otherwise agreed between Trisman and client each order shall include free consultation as well as free order processing and administrative services. This is subject to this fair use policy. Client agrees to actively assist the order processing and to respond to all requests of Trisman, registries, financial institutions or other involved subcontractors promptly. Client understands and accepts the following surcharges and proceedings (a to d) in case of delays: a) on failure to provide requested information and documentation within one week client accepts an additional processing fee of 100 Euro; b) on failure to provide requested information and documentation within one month client accepts an additional processing fee of 200 Euro; c) on failure to provide requested information and documentation within one month client accepts that the file will be temporarily closed until the requested information and documentation is received and the additional processing fee paid; d) on failure to provide requested information and documentation within three months client accepts that the file will be permanently closed and no refund or credit for fees paid will be issued. Should client exceed the average volume of enquiries by more than 200% Trisman shall be entitled to quote an hourly service charge.
Limited liability policyClient limits the liability of Trisman to the services, work and goods ordered and paid. Trisman and client agree that Trisman will not be involved into use of any services, work and goods, that Trisman has no personal interest, insight, control or influence into client's business operations. Client indemnifies Trisman from any and all liability resulting from using the services, work and goods, not limited to but especially from operating companies. In case of disputes between Trisman and client, client agrees the maximum extent of damage is limited by the order value, and cannot exceed 1.000,- Euro. Trisman and client agree that the only place of jurisdiction shall be the city of Cheyenne, State of Wyoming, USA. Any claim or dispute must be notified to Trisman in writing using the online support system within 6 months of date of the relevant order. Such notification shall only be considered as received by Trisman after a confirmation message is shown to the client and a ticket number has been assigned.
Cancellation, return and refund policyIn case client performs any illegal or unethical actions Trisman reserves the right to cancel the relationship and cease all administrative work. Trisman is entitled to terminate or cancel free services at any time and without reason with 14 days notice. Unless otherwise agreed client cannot cancel, exchange or return services, work and goods without written approval of Trisman, as all services, work and goods are customized for the client.
ANTI MONEY-LAUNDERING (AML) POLICY
PolicyIt is the policy of Trisman, to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. Trisman is committed to AML compliance in accordance with applicable laws of jurisdictions where Trisman offers corporate and legal services. Trisman requires its officers, employees and affiliates to adhere to these standards in preventing the use of its products and services for money laundering purposes. For the purposes of the Policy, money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets. Generally, money laundering occurs in three stages. Cash first enters the financial system at the “placement” stage, where the cash generated from criminal activities is converted into monetary instruments, such as money orders or traveler’s checks, or deposited into accounts at financial institutions. At the “layering” stage, the funds are transferred or moved into other accounts or other financial institutions to further separate the money from its criminal origin. At the “integration” stage, the funds are reintroduced into the economy and used to purchase legitimate assets or to fund other criminal activities or legitimate businesses. Terrorist financing may not involve the proceeds of criminal conduct, but rather an attempt to conceal the origin or intended use of the funds, which will later be used for criminal purposes. Each employee of Trisman, whose duties are associated with the provision of products and services of Trisman and who directly or indirectly deals with the clientele of Trisman, is expected to know the requirements of the applicable laws and regulations which affect his or her job responsibilities, and it shall be the affirmative duty of such employee to carry out these responsibilities at all times in a manner that complies with the requirements of the relevant laws and regulations. The laws and regulations include, but not limited to: “Customer Due Diligence for Banks” (2001) and “General Guide to Account Opening and Customer Identification” (2003) of Basel Committee of banking Supervision, Forty plus nine Recommendations for Money Laundering of FATF, USA Patriot Act (2001), Prevention and Suppression of Money Laundering Activities Law of (1996). To ensure that this general policy is carried out, management of Trisman maintains an ongoing program for the purpose of assuring compliance with the relevant laws and regulations and the prevention of money laundering. This program seeks to coordinate the specific regulatory requirements throughout the company within a consolidated framework in order to effectively manage the company’s risk of exposure to money laundering and terrorist financing across all business units, functions, and legal entities.
Failure by Trisman to comply with the all applicable local AML laws and regulations could result in severe regulatory sanctions, possible fines and criminal penalties and damage to the company’s business reputation.
Risk AssessmentAn assessment of the risk of exposure to money laundering issues across all customer relationships shall be completed using the Trisman application forms.
Suspicious ActivitiesThere are signs of suspicious activity that suggest money laundering. These are commonly referred to as “red flags.” If a red flag is detected, additional due diligence will be performed before accepting client’s requests or providing services.
Examples of red flags are:•The customer exhibits unusual concern regarding the AML policies, particularly with respect to his or her identity, type of business and assets, or is reluctant or refuses to reveal any information concerning business activities, or furnishes unusual or suspect identification or business documents.
•The customer wishes to engage in transactions that lack business sense or apparent investment strategy, or are inconsistent with the customer’s stated business strategy.
•The information provided by the customer that identifies a legitimate source for funds is false, misleading, or substantially incorrect.
•Upon request, the customer refuses to identify or fails to indicate any legitimate source for his or her funds and other assets.
•The customer (or a person publicly associated with the customer) has a questionable background or is the subject of news reports indicating possible criminal, civil, or regulatory violations.
•The customer exhibits a lack of concern regarding risks, commissions, or other transaction costs.
•The customer appears to be acting as an agent for an undisclosed principal, but declines or is reluctant, without legitimate commercial reasons, to provide information or is otherwise evasive regarding that person or entity.
•The customer has difficulty describing the nature of his or her business or lacks general knowledge of his or her industry.
•The customer attempts to make frequent or large deposits of currency, insists on dealing only in cash equivalents.
•For no apparent reason, the customer has multiple accounts under a single name or multiple names, with a large number of inter-account or third-party transfers.
•The customer is from, or has accounts in, a country identified as a non-cooperative country or territory by the Financial Action Task Force.
•The customer’s account has unexplained or sudden extensive wire activity, especially in accounts that had little or no previous activity.
•The customer’s account shows numerous currency or cashiers check transactions aggregating to significant sums.
•The customer’s account has a large number of wire transfers to unrelated third parties inconsistent with the customer’s legitimate business purpose.
•The customer’s account has wire transfers that have no apparent business purpose to or from a country identified as money laundering risk or a bank secrecy haven.
•The customer’s account indicates large or frequent wire transfers, immediately withdrawn by check or debit card without any apparent business purpose.
•The customer makes a funds deposit followed by an immediate request that the money be wired out or transferred to a third party, or to another firm, without any apparent business purpose.
•The customer makes a funds deposit for the purpose of purchasing a long-term investment followed shortly thereafter by a request to liquidate the position and transfer of the proceeds out of the account.
•The customer engages in excessive journal entries between unrelated accounts without any apparent business purpose.
•The customer requests that a transaction be processed in such a manner to avoid the firm’s normal documentation requirements.
•The customer, for no apparent reason or in conjunction with other red flags, engages in transactions involving certain types of securities, such as penny stocks, bearer bonds, which although legitimate, have been used in connection with fraudulent schemes and money laundering activity. (Such transactions may warrant further due diligence to ensure the legitimacy of the customer’s activity.)
Customer IdentificationTrisman will document and maintain written customer identification procedures (“CIP”) that will enable to form a reasonable belief that Trisman knows the true identity of each customer. If the Trisman is not able to verify the identity of a customer within a reasonable period of time after services or account opening request, that services shall be suspended and account will be closed. Such an account and services will be subject to increased due diligence until such time as the customer’s identity has been verified or the account has been closed and services suspended.
CIP for Natural PersonsFor natural persons the following information should be obtained, where applicable: •Legal name and any other names used (such as maiden name). •Correct permanent address (the full address should be obtained. a Post Office box number is not sufficient). •Telephone number, fax number, and e-mail address. •Date and place of birth. •Nationality. •Occupation, public position held and/or name of employer. •An official personal identification number or other unique identifier contained in an unexpired official document (e.g. – passport, identification card, residence permit, social security records, driving license) that bears a photograph of the customer. •Source of wealth (where appropriate).
Trisman shall verify this information by at least one of the following methods:
•Confirming the date of birth from an official document (e.g. birth certificate, passport, identity card, social security records).
•Confirming the permanent address (e.g. utility bill, tax assessment, bank statement, a letter from a public authority).
•Contacting the customer by telephone, by letter or by e-mail to confirm the information supplied after an account has been opened or other services provided (e.g. a disconnected phone, returned mail, or incorrect e-mail address should warrant further investigation).
•Confirming the validity of the official documentation provided through certification by an authorized person (e.g. embassy official, notary public).
CIP for InstitutionsThe underlying principles of customer identification for natural persons have equal application to customer identification for all institutions. Where in the following the identification and verification of natural persons is involved, the foregoing guidance in respect of such persons shall have equal application. The term institution includes any entity that is not a natural person.
For corporate entities (i.e. corporations and partnerships), the following information should be obtained:
•Name of institution.
•Principal place of institution’s business operations.
•Mailing address of institution.
•Contact telephone and fax numbers.
•Some form of official identification number, if available (e.g. tax identification number).
•The original or certified copy of the Certificate of Incorporation and Memorandum and Articles of Association.
•Nature and purpose of business and its legitimacy.
This information should be verified by at least one of the following methods:
•For established corporate entities – reviewing a copy of the latest report and accounts (audited, if available).
•Conducting an enquiry by a business information service, or an undertaking from a reputable and known firm of lawyers or accountants confirming the documents submitted.
•Undertaking a company search and/or other commercial enquiries to see that the institution has not been, or is not in the process of being, dissolved, struck off, wound up or terminated.
•Utilizing an independent information verification process, such as by accessing public and private databases.
•Obtaining prior bank references.
•Visiting the corporate entity, where practical.
•Contacting the corporate entity by telephone, mail or e-mail.
All identification documentation and services records shall be kept for the minimum period of time required by local law.