1. The client represents and guarantees that complete and accurate information has been provided in this document and authorizes ALCOGAL to, at its discretion, use the means it deems necessary to validate it.

2. The client commits to notifying ALCOGAL regarding any change in the circumstances and information provided in this document. The new information must be provided to ALCOGAL within the first seven days after the change and includes, but is not limited to, changes in the information within this form, changes in shareholders, directors, officers, foundational council members, protectors, beneficiaries, attorneys in fact or any authority figure of the entity, as applicable.

3. The client declares and guarantees that this entity will be used for lawful purposes and exonerates ALCOGAL from any responsibility related to its use and the transactions that it may carry out. The entity will not engage in any illegal activity in any jurisdiction.

4. The client shall immediately notify ALCOGAL if the entity or any of the persons linked to it have been involved, charged or convicted of any illegal activity.

5. The client commits to not register, without ALCOGAL’s explicit authorization, the entity with the Internal Revenue Service of the United States (IRS) to perform tasks related to obtaining a Global Intermediary Identification Number (GIIN) as a sponsor of other entities and/or as a qualified intermediary, among others.

6. The client commits to not carry out high-risk activities and transactions with the entity without ALCOGAL’s explicit authorization. The scope of these activities includes, but is not limited to, transactions in cryptocurrencies, using the entity to establish exchange or gambling houses, becoming a financial institution for operational reasons, or having issued a discretionary power of attorney to a financial professional and/or acting as a financial intermediary.

7. The client will be responsible for the payment of any charges associated with the entity, unless ALCOGAL and the client engage in a separate written agreement that states otherwise.

8. The client requests ALCOGAL to provide corporate services for the formation and maintenance of the entity, including, among others, acting as resident agent.

9. The client may request ALCOGAL to issue the necessary corporate documents for the entity’s business.

10. The client will assume full responsibility for all measures or actions taken by ALCOGAL within the framework of these terms. Consequently, the client releases and exonerates ALCOGAL from any claim or action instituted against it and commits to indemnifying ALCOGAL for any loss or damage it may suffer for any reason, except in cases of gross negligence.

11. The client must provide all instructions in writing and, in case they are provided by email, mail, courier or fax, the client agrees to release and exonerate ALCOGAL from any and all consequences that may result from the execution of such instructions and agrees that any instruction received by ALCOGAL through one or more of these communication channels will be binding for the client.

12. The client expresses, warrants, and agrees that the entity will not be involved in any illegal activity (money laundering, terrorism financing, fraud, etc.), and that, to the client’s knowledge, none of the persons affiliated with the entity have been involved in or have been convicted of illegal activities. The client must inform ALCOGAL of any change in the information provided in this document; and ALCOGAL may, at its discretion, verify any information contained in any documentation provided by the client.

13. When ALCOGAL provides nominee services, the client commits to indemnify the nominees in case of and against any loss or damage they may suffer at any time or that they have incurred or sustained deriving from or in connection to the provision of said services, or for any act, deed, matter or thing, that they have done or omitted in their capacity as nominees of the entity, or by a legal instruction given by the beneficial owner’s representatives, and against all actions, proceedings, claims, costs and expenses a rising here under or in connection with them.

14. Nominees will only act as such when requested exclusively by means of written directives or instructions (email, mail, courier or fax) from the Ultimate Beneficiary Owner or any other person duly authorized by him or her.

15. Nominees have no direct interest or benefit in the entity.

16. Nominees may terminate their services in accordance with these Terms and Conditions and resign from any position where they are appointed to:

1. If at any time the Ultimate Beneficiary Owner does not comply with the requirements and refuses to provide any information or documentation related to the operation of the entity, as required by any local law having jurisdiction over the entity.
2. If the Ultimate Beneficiary Owner fails to comply with these Terms and Conditions.
3. For any reason, as long as they provide written notice to the Ultimate Beneficiary Owner 15 days in advance.

17. The client shall not give the nominees any instructions about the entity that is illegal in any country or that incurs in liability for the nominees.

18. The client will provide the nominees with any information they request in relation to the provision of their services.