Disclosure Agreement

Please refer to our Disclosure Agreement here

Terms of Use

I/we have been advised and understand that non-deposit products (stocks, bonds, mutual funds, unit investment trusts, fixed and variable annuities, and insurance products), offered by Lennox Reed Capital:

Are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC), NCUA, or any other government agency (with the exception of brokered CDs). Furthermore, non-deposit products:
Are not deposits of this institution.
Are not obligations of, or guaranteed by this financial institution.
And may involve investment risks, including the potential loss of principal.

I am aware that there are fees associated with the purchase or sale of mutual funds and/or annuities, and a copy of such prospectus has been provided to me. I/we understand that this financial institution may not condition the extension of credit on my purchase of an insurance product or annuity from this financial institution or one of its affiliates, and that this financial institution may not prohibit me from purchasing an insurance product or annuity from an unaffiliated entity.

Trading Agreement

Important Disclosures and Client Agreements

When you open an account with Lennox Reed Capital, you agree to the following terms, which are designed to ensure clarity and transparency in our partnership. Please review this information carefully.

1. Authorization and Termination

You confirm that you have the legal authority to enter into this agreement. Either party may terminate this agreement at any time by providing written notice.

2. Clearing Agreement

Lennox Reed Capital has a clearing agreement with various clearing houses, which specifies the functions and responsibilities of Lennox Reed Capital with respect to certain matters affecting your account. A description of this agreement is available upon your written request.

3. Call Recording for Quality and Accuracy

For your protection and to ensure the accuracy of all instructions, you understand and agree that any telephone conversations with Lennox Reed Capital may be recorded.

4. Indebtedness and Account Freezing

Should your account incur a debit balance, you agree to repay the amount upon demand. If the debt is not paid, we reserve the right to freeze or block your account until the full amount, including any penalties, interest, and legal fees, is settled.

5. Order and Delivery of Securities

When placing a sell order, you are required to specify whether the position is short or long. If you do not have the securities in your account for a long position, you agree to deliver them to us by the settlement date. If you fail to do so, or if any other transaction cannot be settled due to your failure to pay or deliver securities, you authorize us to take all necessary actions to complete the transaction and will reimburse us for any resulting costs, losses, or liabilities.

6. Appointment as Your Agent

You appoint Lennox Reed Capital as your agent to carry out your investment directions. This authorization includes the ability to open or close brokerage accounts, place and withdraw orders, and receive copies of confirmations and statements as needed to fulfill your instructions.

7. Joint Accounts

For joint accounts, the account will be held with rights of survivorship (payable to either or the survivor), unless you provide us with alternative instructions and required documentation. Each joint account holder irrevocably appoints the other as an attorney-in-fact to act on their behalf, and we are fully protected in acting on instructions from either party.

8. Liability

Lennox Reed Capital is not liable for losses caused directly or indirectly by events beyond our control, such as war, natural disasters, government restrictions, or market disruptions.

9. Costs of Collection

You agree to reimburse us for all reasonable costs incurred in the collection of any unpaid debit balances, including attorney's fees.

10. Open Order Review

Please be aware that all open orders may be reviewed after 30 days. We may, at our discretion, cancel an order if we are unable to confirm that you still wish it to remain active.

11. Trademark Notice

This section has been removed as it pertained to a third-party company no longer mentioned in the document.

12. Governing Law

This agreement is governed by and interpreted in accordance with international law, excluding its conflicts of law rules.

13. Mandatory Arbitration

You acknowledge and agree that this document contains a pre-dispute arbitration clause. By signing this agreement, you and Lennox Reed Capital are waiving the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum where a claim is filed. Arbitration awards are generally final and binding, and a party's ability to have a court reverse or modify an award is very limited.

Mandatory Arbitration (Continued)

You acknowledge that the arbitration process has distinct characteristics compared to a court proceeding:

The ability to obtain documents, witness statements, and other discovery is generally more limited in arbitration.
Arbitrators are not required to provide a detailed explanation for their award.
The arbitration panel may include a minority of arbitrators who have an affiliation with the securities industry.
The rules of certain arbitration forums may impose time limits for filing a claim. In some cases, a claim not eligible for arbitration may be pursued in court.
The rules of the selected arbitration forum, including any future amendments, are incorporated into this agreement.

You and Lennox Reed Capital agree that all disputes or controversies arising from any transaction or from the construction, performance, or breach of this or any other agreement related to securities will be settled by arbitration. Any arbitration will be conducted under the Federal Arbitration Act and International Law, and in accordance with the rules of the National Association of Securities Dealers, Inc. (FINRA), or the Municipal Securities Rulemaking Board (MSRB). You may initially choose the arbitration forum. If you fail to do so within ten days of a written request from Lennox Reed Capital, we may make the selection. The decision of the arbitrators will be final, and a judgment upon the award may be entered and enforced in any court with jurisdiction.

No party may bring a punitive or certified class action to arbitration. Furthermore, no pre-dispute arbitration agreement may be enforced against a person who has initiated a punitive class action in court, or against a member of such a class who has not opted out, until one of the following occurs: the class certification is denied, the class is decertified, or you are excluded from the class by the court. This forbearance does not waive any other rights under this agreement. You understand that complaints not seeking arbitration may be directed to the main address of Lennox Reed Capital.

14. Schedule of Fees

You are aware that your account is subject to the Lennox Reed Capital schedule of fees, a copy of which is available upon your request.

15. Credit Reporting and Privacy

Under the Fair Credit Reporting Act, you have the right to notify us if you believe we have inaccurately reported information about your account to a consumer reporting agency. Be assured that Lennox Reed Capital will not sell, share, or otherwise provide your personal information to any non-affiliated third party. You acknowledge that we may conduct an investigative consumer report, including information about your creditworthiness, character, and other personal characteristics. As a client-initiated transaction, you have the right, upon written request, to receive complete information on the nature and scope of any inquiry made, as well as a written summary of your rights under the Fair Credit Reporting Act. Any such requests should include your name, current address, Social Security number, telephone number, and account number. If you are disputing an item, please specify the item in question.

16. Submitting Notices and Inquiries

Any notices or inquiries related to the Fair Credit Reporting Act should be sent in a separate envelope to the main office of Lennox Reed Capital and should not be included with any other correspondence. You understand that, unless otherwise required by law, these disclosures do not apply to business-to-business or commercial transactions.