Terms and Condition (Custody)

Custody Policy Global Performance Group LLC  (Summary)

Introduction
This Custody Policy outlines the terms and procedures by which Global Performance Group LLC (“Custodian”) provides custodial and administrative services for clients’ crypto-assets and funds.

Account Establishment and Asset Segregation
– Custody Accounts: The Custodian will establish and maintain Digital Asset Custody Accounts and Cash Custody Accounts for each client. Digital assets and cash will be held separately from the Custodian’s operational accounts.
– Asset Segregation: Client assets are managed through a CPC wallet structure, ensuring that digital assets are fungible with those of other clients but legally segregated from the Custodian’s estate.

Acceptance and Holding of Assets
– The Custodian has discretion over the acceptance of any assets for custody. Assets deemed ineligible due to various risks will not be serviced except for withdrawal requests.

Register of Positions and Statements
– The Custodian maintains a register of positions for each client’s rights to their crypto-assets, recording all movements promptly.
– Clients receive an electronic statement of their crypto-asset positions at least quarterly, detailing balances, values, and transfers.

Transfer of Assets
– Credits and Debits: Clients can transfer digital assets into and out of their custody accounts by providing authenticated instructions. The Custodian completes these transfers following compliance verification.
– Cash Transfers: Clients may also transfer cash for buying digital assets. These transactions are completed within 24 hours, subject to applicable fees.

Purchase and Sale of Digital Assets
– The Custodian is authorized to execute purchase and sale orders for digital assets on behalf of the client, depending on market conditions and available liquidity.

Instructions and Authorization
– Only authorized persons can provide instructions regarding asset transfers. Instructions must be authenticated, and the Custodian reserves the right to reject any instruction that does not comply with its policies or legal requirements.

Liability
– The Custodian is liable for the loss of any crypto-assets or means of access due to incidents attributable to it, with liability capped at the market value of the lost asset at the time of the loss. The Custodian hereby clarifies that it shall not be held liable for any losses, damages, or other liabilities arising from or related to the use of DLTs that are beyond the control of the CASP.

Security and Use of Third Parties
– The Custodian may use third parties to fulfill its duties, ensuring that these parties meet necessary due diligence requirements.
– Measures are taken to protect the security of assets, which may include periodic policy reviews and implementing additional security procedures as needed.

Client Communication
– Clients may request an electronic summary of the custody policy and the Crypto-Asset Exchange and Crypto Transfers Policy.
– The Custodian provides regular updates and notifications regarding the status of their assets and any changes in the policy or procedures.

This summary provides an overview of the key aspects of the custody policy, ensuring clients understand how their assets are managed and protected. For detailed terms and conditions, clients are encouraged to review the full Custodial and Administration Services Agreement and Commercial Policy for Crypto-Asset Exchange and Crypto Transfers of Global Performance Group LLC(GPG).

 

 

Safety : CryptoPerformance operates under the rules of financial, operational and legal safety, as well as AML and KYC regulations. All transactions are processed via encrypted HTTPS connections with the use of safe TLS protocols and encryption algorithms.

Copyright ©️ 2019-2024 CryptoPerformance Group. All Rights Reserved.

Safety : CryptoPerformance operates under the rules of financial, operational and legal safety, as well as AML and KYC regulations. All transactions are processed via encrypted HTTPS connections with the use of safe TLS protocols and encryption algorithms.

Terms

Copyright ©️ 2019-2024 CryptoPerformance Group. All Rights Reserved.