1. The Client is desirous of opening one or more accounts with GPM as the Client may decide from time to time for the purpose of over the counter precious metals trading, and has requested GPM to open and maintain such account(s) for him for such purpose and to execute his orders.
2. GPM agrees that it will from time to time at the request of the Client and at the sole discretion of GPM open and maintain one or more accounts in the name of the Client to be designated in such name(s), number(s), or otherwise, and GPM will execute directly or indirectly all orders placed or given by the Client or the Authorized Person (as defined below) for over the counter precious metals trading upon the terms and conditions set out in this Agreement.
“OTC Precious Metals” means over the counter gold, silver, palladium, platiunm and Hong Kong Gold trading.
“场外贵金属交易” 指场外黄金、白银、钯金、铂金及香港金交易。
3.3 OTC PRECIOUS METALS
3.3 场外贵金属
3.3.1 Client understands, acknowledges, and affirms that notwithstanding the entering into an OTC Precious Metals transaction with GPM, Client DOES NOT acquire ownership, possession or right to transfer/retransfer the ownership in any physical precious metals.
3.4.1 Execution only: GPM deals with the Client on an execution-only basis and will not make personal recommendations or advise on the merits of purchasing, selling or otherwise dealing in particular investments or executing particular transactions, the tax implications or the composition of the Account or any other rights or obligations attached to such transactions. Client should bear in mind that the mere explanation of the terms of transactions or investments or its performance characteristics does not itself amount to advice on the merits of the investments.
3.4.2 Incidental information: GPM may from time to time at its sole discretion provide information to the Client at GPM’s own initiative. Where GPM does provide market commentary, guidance or other information:
附带信息：环球贵金属可不时酌情主动向客户提供数据。倘若环球贵金属提供市场评论、指引或其它信息：
(a) this is incidental to Client’s dealing relationship with GPM. It is provided solely to enable the Client to make his own investment decisions which does not amount to investment recommendation or advice;
(b) GPM gives no representation, warranty or guarantee as to the accuracy or completeness of such information or as to the legal, tax or accounting consequences of any transaction;
环球贵金属并无就该等信息的准确性或完整性或任何交易的法律、税务或会计后果作出声明、保证或担保；
(c) Where information is in the form of a document which contains restrictions on the person or category of persons for whom that document is intended or to whom it is distributed, Client agrees that he will not pass on the document in contravention of that restriction;
(d) GPM does not provide specific investment advice. GPM will not advise on the merits or otherwise of Client’s transactions;
环球贵金属不会提供特定投资意见，并且不会就客户交易的成功机会或其它提供意见。
(e) The decision to place an order or enter into a transaction is the Client to take. Client (and not GPM) is responsible for the effect those transactions might have on any open positions.
交易决定乃由客户自行作出。客户(而非环球贵金属)须对交易可能会对任何未平仓交易造成的影响负责。
7. DEALINGS
7. 交易
7.1 None of GPM’s employees or representatives shall accept appointment by the Client to operate the Client’s Account as agent.
环球贵金属之雇员或代表一概不得接受客户委任为其代理人以操作客户之账户。
7.2 Client acknowledges that GPM may take the opposite position to the Client’s orders.
客户知悉环球贵金属可能与客户的交易进行对盘。
8. AUTHORIZATION TO TRADE
8. 交易授权
GPM is authorized to purchase and sell OTC Precious Metals for Client’s Account with a counterparty or sophisticated institutional participant in accordance with Clients oral, written or computer instructions. Unless instructed by Client to the contrary in writing, GPM is authorized to execute all orders with such counterparty or sophisticated institutional participant as GPM deems appropriate.
All transactions under this Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rulings and interpretations of the interbank market where executed as well as to all applicable laws and regulations of Hong Kong. If any statutes, shall hereafter be enacted or any rules or regulations shall hereafter be adopted by any government authority or regulatory body of Hong Kong, which shall be binding upon GPM and shall affect in any manner or be inconsistent with any of the provisions hereof, the provisions of this Agreement so affected shall be deemed modified or superseded, as the case may be by the applicable provisions of those statutes, rules or regulations, and all other provisions of this Agreement and provisions so modified shall in all respects continue in full force and effect.
With respect to purchases or sales through GPM Account, Client agrees to instruct GPM to offset or rollover a position. Except as provided herein, during the term of the OTC Precious Metals position, Client shall give GPM instructions for rolling the position no later than two hours prior to the settlement of trading in the contract on the day Client intends to rollover a position. In addition, by noon of the business day before the settlement date of the contract, Client shall instruct GPM whether to offset or rollover the position. In the absence of timely instructions from the Client, GPM is authorized, at GPMs absolute discretion, to rollover or offset all or any positions in the Clients Account at Clients risk. Clients Account shall be charged commissions at brokers rates, upon the rollover or offset.
13.1 Offset instructions on open positions must be givento GPM at least one (1) business day prior to the settlement or value day. Alternatively, within the same period described above GPM must possess sufficient funds to take delivery or the necessary delivery documents. If neither instructions, funds nor documents are received, GPM may without notice, either offset Clients positions or roll Clients positions into next settlement time or make or receive delivery on behalf of Client upon such terms and by such methods deemed reasonable by GPM in its sole discretion.
Subject to Clients Consent to Electronic Transmission of Confirmations and Account Statements, reports, statements, notices and any other communications, including without limitation, contract notes and statements of account will be transmitted to Client via email address on Clients Account Application Form, or to such other address as Client may from time to time designate in writing to GPM. All communications so sent, whether by mail, telegraph messenger or otherwise, shall be deemed transmitted by GPM when deposited in Hong Kong mail, or when received by a transmitting agent, are deemed delivered to Client personally, whether actually received by Client or not.
17.1 GPM will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or for any other cause beyond GPM’s control or anticipation. GPM shall only be liable for its actions directly attributable to negligence, willful default or fraud on the part of GPM. GPM shall not be liable for losses arising from the default of any agent or other party used by GPM under this Agreement which are independent of GPM.
The Client represents and warrants that the financial information disclosed to GPM in the Agreement is an accurate representation of the Client's current financial condition.
客户声明并保证在本协议中向环球贵金属披露的财务讯息准确地表述了客户目前的财务状况。
The Client represents and warrants that in determining the Client's net worth, assets and liabilities were carefully calculated then liabilities were subtracted from assets to determine the value that the Client has included in the financial information as net worth.
The Client represents and warrants that in determining the value of assets, the Client included cash and/or cash equivalents, government and marketable securities, real estate owned (excluding primary residence), the cash value of life insurance and other valuable assets.
Client's attention is drawn to the fact that when GPM deal with the Client or for the Client, GPM or an affiliate or some other person connected with GPM may have an interest, relationship or arrangement that is material. Without limiting the nature of such interests, examples where GPM or its affiliate may be interested in the transactions are:
(i) dealing in the investment, a related investment or an asset underlying the investment, as principal for GPM or its affiliate's own account or that of someone else. This could include selling to the Client or buying from the Client and also dealing with or using the services of an intermediate broker or other agent who may be an affiliate;
30. CONSENT TO ELECTRONIC TRANSMISSION OF CONFIRMATION & ACCOUNT STATEMENTS
30. 同意以电子方式传送确认及账户结单
Client hereby consents to have the Account information and trade confirmations, including without limitation, contract notes and statements of account, delivered to Client via email. Client will also be able to access such information via the GPM website using Client's Access Codes to access the Account.
GPM will send all Account activity and Client will be able to generate daily, monthly and annual reports of account activity as well as a report of each executed trade. Sending of account information on Client Account will be deemed delivery of confirmation and account statements.
(vi) It is the Client's responsibility to find out all necessary information about GPM and make sure that all arrangements are discussed and clearly understood prior to any trading activity.
(vii) It is the Client's responsibility to find out all necessary information about a Trading Agent prior to any trading activity, if the Account is to be traded by someone other than himself.
(viii) The Client should be aware that guaranteeing any return is illegal. GPM is not responsible for any claims or assurances made against GPM, its employees and/or associates in relation to such guarantee;
The Client shall not instruct GPM and GPM shall not be obliged to act upon instructions of the Client to do anything which is in breach of, would or is likely to involve GPM becoming or being in breach of the relevant statues in regulation of the OTC Precious Metals trade and/ or other applicable laws or regulations or any act which, in the sole and absolute opinion of GPM might jeopardize any of its rights under this Agreement.
41.1 GPM shall not provide any advice to the Client on any tax issue relating to any Services. The Client is advised to obtain individual and independent advice from its financial advisors, auditors or legal counsel with respect to tax implications of the respective Services.
41.2 The Client is responsible for the payment of all taxes that may arise in relation to its transactions.
客户有责任缴纳交易过程中可能产生的所有税款。
41.3 GPM may make deductions and/or withholdings as required by applicable laws and regulations.
环球贵金属可根据适用法律和法规的要求扣除及/或扣缴税款。
42. OVER THE COUNTER PRECIOUS METALS TRADING
42. 场外贵金属交易
GPM offers OTC Precious Metals in accordance to the terms and conditions in this Agreement as supplemented by the information published on GPM's web site from time to time.
环球贵金属根据本协议的条款及细则，以及在环球贵金属不时在网站发布的补充性数据提供场外贵金属交易。
43. SEVERABILITY
43. 可分割性
Each of the provisions of this Agreement is severable and distinct from the others and, if one or more of such provisions is or becomes illegal, invalid or unenforceable; the remaining provisions shall not be affected in any way. In the event that any provision would be invalid if part of the wordings thereof were not deleted, the provision shall apply as if the relevant wordings were deleted.
CLIENT AGREEMENT OF PRECIOUS METALS TRADING
贵金属交易客户协议书（中英文对照）
学术交流请致 676012182@qq.com
中英文共计2.7万余字，word 文档。
部分章节示例如下：
WHERE AS :
鉴于：
1. The Client is desirous of opening one or more accounts with GPM as the Client may decide from time to time for the purpose of over the counter precious metals trading, and has requested GPM to open and maintain such account(s) for him for such purpose and to execute his orders.
客户欲按其不时的决定在环球贵金属开设一个或多个账户，以用于场外贵金属交易，并且客户已经要求环球贵金属为上述之目的为其在环球贵金属开立并维持上述所指之账户，并执行客户交易指令。
2. GPM agrees that it will from time to time at the request of the Client and at the sole discretion of GPM open and maintain one or more accounts in the name of the Client to be designated in such name(s), number(s), or otherwise, and GPM will execute directly or indirectly all orders placed or given by the Client or the Authorized Person (as defined below) for over the counter precious metals trading upon the terms and conditions set out in this Agreement.
环球贵金属同意不时应客户之要求并依据环球贵金属绝对酌情权，以客户之名，以特定或指定的账户名称、号码，或其它方式替客户开立及维持一个或多个账户。环球贵金属同意按本协议载列的条款及条件，直接或间接地执行由客户或获授权人士（定义见下文）为进行场外贵金属交易而发出的所有指令。
“OTC Precious Metals” means over the counter gold, silver, palladium, platiunm and Hong Kong Gold trading.
“场外贵金属交易” 指场外黄金、白银、钯金、铂金及香港金交易。
3.3 OTC PRECIOUS METALS
3.3 场外贵金属
3.3.1 Client understands, acknowledges, and affirms that notwithstanding the entering into an OTC Precious Metals transaction with GPM, Client DOES NOT acquire ownership, possession or right to transfer/retransfer the ownership in any physical precious metals.
客户明白、承认及确认尽管与环球贵金属进行场外贵金属买卖交易，客户不会取得实物贵金属的拥有权，不持有实物 贵金属，或有权转移或再转移实物贵金属。
3.4 EXECUTION AND ADVICE
3.4 执行和意见
3.4.1 Execution only: GPM deals with the Client on an execution-only basis and will not make personal recommendations or advise on the merits of purchasing, selling or otherwise dealing in particular investments or executing particular transactions, the tax implications or the composition of the Account or any other rights or obligations attached to such transactions. Client should bear in mind that the mere explanation of the terms of transactions or investments or its performance characteristics does not itself amount to advice on the merits of the investments.
只限执行：环球贵金属在只限执行的基础下与客户进行交易，不会就购买、出售或以其它方式交易特定投资产品或执行特定交易的优点、税务后果或任何账户的组成或该等交易所附带的任何其它权利或责任提供个人建议或意见。客户应紧记，单单说明交易或投资的条款或其表现特色本身并不构成就投资成功机会提供意见。
3.4.2 Incidental information: GPM may from time to time at its sole discretion provide information to the Client at GPM’s own initiative. Where GPM does provide market commentary, guidance or other information:
附带信息：环球贵金属可不时酌情主动向客户提供数据。倘若环球贵金属提供市场评论、指引或其它信息：
(a) this is incidental to Client’s dealing relationship with GPM. It is provided solely to enable the Client to make his own investment decisions which does not amount to investment recommendation or advice;
这是客户与环球贵金属之间的交易关系所附带的,仅是为了让客户自行作出投资决定而提供，并不构成投资建议或意见；
(b) GPM gives no representation, warranty or guarantee as to the accuracy or completeness of such information or as to the legal, tax or accounting consequences of any transaction;
环球贵金属并无就该等信息的准确性或完整性或任何交易的法律、税务或会计后果作出声明、保证或担保；
(c) Where information is in the form of a document which contains restrictions on the person or category of persons for whom that document is intended or to whom it is distributed, Client agrees that he will not pass on the document in contravention of that restriction;
倘若信息乃以文件方式展列并包含限制拟向有关人士或有关类别人士派发或派送，则客户同意不会违反该限制将文件转交他人；
(d) GPM does not provide specific investment advice. GPM will not advise on the merits or otherwise of Client’s transactions;
环球贵金属不会提供特定投资意见，并且不会就客户交易的成功机会或其它提供意见。
(e) The decision to place an order or enter into a transaction is the Client to take. Client (and not GPM) is responsible for the effect those transactions might have on any open positions.
交易决定乃由客户自行作出。客户(而非环球贵金属)须对交易可能会对任何未平仓交易造成的影响负责。
7. DEALINGS
7. 交易
7.1 None of GPM’s employees or representatives shall accept appointment by the Client to operate the Client’s Account as agent.
环球贵金属之雇员或代表一概不得接受客户委任为其代理人以操作客户之账户。
7.2 Client acknowledges that GPM may take the opposite position to the Client’s orders.
客户知悉环球贵金属可能与客户的交易进行对盘。
8. AUTHORIZATION TO TRADE
8. 交易授权
GPM is authorized to purchase and sell OTC Precious Metals for Client’s Account with a counterparty or sophisticated institutional participant in accordance with Clients oral, written or computer instructions. Unless instructed by Client to the contrary in writing, GPM is authorized to execute all orders with such counterparty or sophisticated institutional participant as GPM deems appropriate.
环球贵金属获授权按照客户的口头、书面或计算机指令向交易对手或专业机构参与者为客户的账户进行场外贵金属交易。除非客户以书面形式作出相反指令，环球贵金属有权与环球贵金属认为合适的交易对手或专业机构参与者执行所有交易指令。
9. GOVERNMENTAL AND INTERBANKING SYSTEM RULES
9. 政府及银行间系统规条
All transactions under this Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rulings and interpretations of the interbank market where executed as well as to all applicable laws and regulations of Hong Kong. If any statutes, shall hereafter be enacted or any rules or regulations shall hereafter be adopted by any government authority or regulatory body of Hong Kong, which shall be binding upon GPM and shall affect in any manner or be inconsistent with any of the provisions hereof, the provisions of this Agreement so affected shall be deemed modified or superseded, as the case may be by the applicable provisions of those statutes, rules or regulations, and all other provisions of this Agreement and provisions so modified shall in all respects continue in full force and effect.
所有本协议下的交易均受辖于执行交易的银行同业市场的宪章、细则、条例、规定、习惯、用法、裁决和解释，以及所有适用的香港法律与规定。如果往后通过的任何法令，或任何香港政府机构或监管机构往后通过的任何规定或条例对环球贵金属产生约束力，影响博威环
球贵金属，又或与本协议的任何条款相抵触，受到影响的条款将视作被有关法令、规定或条例变更或替代，而本协议其它条款及变更后的条款将继续完全有效。
11. SETTLEMENT DATE AND ROLLOVERS
11. 结算日与延展
With respect to purchases or sales through GPM Account, Client agrees to instruct GPM to offset or rollover a position. Except as provided herein, during the term of the OTC Precious Metals position, Client shall give GPM instructions for rolling the position no later than two hours prior to the settlement of trading in the contract on the day Client intends to rollover a position. In addition, by noon of the business day before the settlement date of the contract, Client shall instruct GPM whether to offset or rollover the position. In the absence of timely instructions from the Client, GPM is authorized, at GPMs absolute discretion, to rollover or offset all or any positions in the Clients Account at Clients risk. Clients Account shall be charged commissions at brokers rates, upon the rollover or offset.
关于通过环球贵金属账户的买卖，客户同意指示环球贵金属就持仓的清算或延展发出指令。除非本协议另有规定，在场外贵金属交易合约的有效期间，客户应在其有意延展场外贵金属交易持仓合约的当天，不少于场外贵金属交易持仓结算两小时之前给予环球贵金属延展场外贵金属交易持仓的指令。此外，客户应在合同结算日的前一个工作日正午之前指令环球贵金属是否持仓或平仓。如无客户的及时指令，客户授权环球贵金属获按其绝对酌情权决定是否延展或清算所有或任何客户在环球贵金属账户的持仓，风险由客户承担。客户的账户将按经纪人的价格收取佣金。
13. SETTLEMENT DATE OFFSET INSTRUCTIONS
13. 结算日清算指令
13.1 Offset instructions on open positions must be givento GPM at least one (1) business day prior to the settlement or value day. Alternatively, within the same period described above GPM must possess sufficient funds to take delivery or the necessary delivery documents. If neither instructions, funds nor documents are received, GPM may without notice, either offset Clients positions or roll Clients positions into next settlement time or make or receive delivery on behalf of Client upon such terms and by such methods deemed reasonable by GPM in its sole discretion.
关于在结算日前开立的持仓的清算指令必须在结算日或交割日到期至少一天前送达环球贵金属，或者在上述期间内环球贵金属管有足够进行交付的资金或必需的交付文件。如果既无指令，又无资金或文件，环球贵金属可以不经发出通知，清算客户的持仓或者延展其持仓至下一个结算时段，或由环球贵金属全权酌情代表客户决定以合理的方式，按有关的条款接受交付。
16. COMMUNICATIONS
16. 通讯
Subject to Clients Consent to Electronic Transmission of Confirmations and Account Statements, reports, statements, notices and any other communications, including without limitation, contract notes and statements of account will be transmitted to Client via email address on Clients Account Application Form, or to such other address as Client may from time to time designate in writing to GPM. All communications so sent, whether by mail, telegraph messenger or otherwise, shall be deemed transmitted by GPM when deposited in Hong Kong mail, or when received by a transmitting agent, are deemed delivered to Client personally, whether actually received by Client or not.
在符合客户同意以电子方式传输确认与报表，报告、报表、通知，其它通讯联络包括但不限于转让文书及账户报表，可通过电子邮件、客户开户申请书中注明地址或客户不时以书面形式向环球贵金属指定的其它地址送达客户，所有上述通讯，不论是以邮寄、电报或其它方式
发出，一经香港邮递送出，或由送达代理机构接收，无论客户是否实际收到，即被认定已由环球贵金属送达客户本人。
17. GPM RESPONSIBILITIES
17. 环球贵金属的责任
17.1 GPM will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or for any other cause beyond GPM’s control or anticipation. GPM shall only be liable for its actions directly attributable to negligence, willful default or fraud on the part of GPM. GPM shall not be liable for losses arising from the default of any agent or other party used by GPM under this Agreement which are independent of GPM.
环球贵金属将不对因传输或通讯设施故障、断电或任何其它环球贵金属所不能控制或预计的原因招致延迟传输指令承担责任。环球贵金属将仅对其直接过失、蓄意过错或欺诈行为负责。环球贵金属不因其依据本协议使用的任何独立于环球贵金属的代理人或其他方的过错而招致的损失承担责任。
21. DISCLOSURE OF FINANCIAL INFORMATION
21. 财务讯息披露
The Client represents and warrants that the financial information disclosed to GPM in the Agreement is an accurate representation of the Client's current financial condition.
客户声明并保证在本协议中向环球贵金属披露的财务讯息准确地表述了客户目前的财务状况。
The Client represents and warrants that in determining the Client's net worth, assets and liabilities were carefully calculated then liabilities were subtracted from assets to determine the value that the Client has included in the financial information as net worth.
客户声明并保证在确定其净值时，资产与负债已被仔细计算，并将负债从资产中扣除来确定客户在财务讯息中提供的净值。
The Client represents and warrants that in determining the value of assets, the Client included cash and/or cash equivalents, government and marketable securities, real estate owned (excluding primary residence), the cash value of life insurance and other valuable assets.
客户声明并保证在确定资产价值时，客户包括了现金及/或现金等值品、政府债券和可流通证券、自置房产（不含主要住宅）、人寿保险的现金价值及其它有价值资产。
27. MATERIAL INTEREST AND CONFIDENTIALITY
27. 重要利益和保密性
Client's attention is drawn to the fact that when GPM deal with the Client or for the Client, GPM or an affiliate or some other person connected with GPM may have an interest, relationship or arrangement that is material. Without limiting the nature of such interests, examples where GPM or its affiliate may be interested in the transactions are:
客户请注意，当环球贵金属与客户进行交易或环球贵金属为客户进行交易时，环球贵金属或关联公司或与环球贵金属有关联的一些其它人士可能有实质利益、关系或安排。在不排除可能发生利益关系的性质，环球贵金属或关联公司可能在交易出现以下例子的利益关系：
(i) dealing in the investment, a related investment or an asset underlying the investment, as principal for GPM or its affiliate's own account or that of someone else. This could include selling to the Client or buying from the Client and also dealing with or using the services of an intermediate broker or other agent who may be an affiliate;
(i) 作为委托人，为环球贵金属或其关联公司自身或其它人士的账户进行投资、相关投资或投资相关资产。包括向客户卖出或从客户买入，以及与可能为关联公司的中介经纪或其它代理人进行交易，或使用该等中介经纪或其它代理人的服务；
30. CONSENT TO ELECTRONIC TRANSMISSION OF CONFIRMATION & ACCOUNT STATEMENTS
30. 同意以电子方式传送确认及账户结单
Client hereby consents to have the Account information and trade confirmations, including without limitation, contract notes and statements of account, delivered to Client via email. Client will also be able to access such information via the GPM website using Client's Access Codes to access the Account.
客户在此同意，客户的账户信息与交易确认(包括但不限于交易单据、账户报表)可以电子邮件形式传递给客户。客户亦可以通过环球贵金属的互联网页并使用客户的账户接达码登入查阅其账户信息。
GPM will send all Account activity and Client will be able to generate daily, monthly and annual reports of account activity as well as a report of each executed trade. Sending of account information on Client Account will be deemed delivery of confirmation and account statements.
环球贵金属将发放客户的所有账户活动，客户将可以获得每日、每月及年度的账户活动报告，以及每项已执行的交易的报告。在客户的网上账户发放其账户信息将被视作已经向客户提交交易确认和对账单。
(vi) It is the Client's responsibility to find out all necessary information about GPM and make sure that all arrangements are discussed and clearly understood prior to any trading activity.
(vi) 客户有责任了解有关环球贵金属的所有必要信息，并确保在开展任何交易活动之前讨论并清楚理解所有安排。
(vii) It is the Client's responsibility to find out all necessary information about a Trading Agent prior to any trading activity, if the Account is to be traded by someone other than himself.
(vii) 如果账户交易由他人代为进行，则在进行交易活动之前，客户有责任了解有关交易代理人的全部必要信息。
(viii) The Client should be aware that guaranteeing any return is illegal. GPM is not responsible for any claims or assurances made against GPM, its employees and/or associates in relation to such guarantee;
(viii) 所有客户必须明白任何回报保证均为非法。环球贵金属不对任何由回报保证引发对环球贵金属，其雇员及/或关联人作出的 指称或索偿负责。
40. COMPLIANCE WITH LAWS
40. 遵守法律
The Client shall not instruct GPM and GPM shall not be obliged to act upon instructions of the Client to do anything which is in breach of, would or is likely to involve GPM becoming or being in breach of the relevant statues in regulation of the OTC Precious Metals trade and/ or other applicable laws or regulations or any act which, in the sole and absolute opinion of GPM might jeopardize any of its rights under this Agreement.
客户不得指示环球贵金属，而环球贵金属亦无责任根据客户的指示进行任何违反、将或可能会令环球贵金属变作违反或违反有 关监管场外贵金属交易及或其它适用法例或规例，或环球贵金属全权酌情认为可能会损害其于本协议下任何权利的行为。
41. TAX
41. 税务
41.1 GPM shall not provide any advice to the Client on any tax issue relating to any Services. The Client is advised to obtain individual and independent advice from its financial advisors, auditors or legal counsel with respect to tax implications of the respective Services.
环球贵金属不应向客户就任何服务提供与税务有关的建议。环球贵金属建议客户就相关服务的税务问题向其财务顾问、审计师或法 律顾问寻求个人及独立的建议。
41.2 The Client is responsible for the payment of all taxes that may arise in relation to its transactions.
客户有责任缴纳交易过程中可能产生的所有税款。
41.3 GPM may make deductions and/or withholdings as required by applicable laws and regulations.
环球贵金属可根据适用法律和法规的要求扣除及/或扣缴税款。
42. OVER THE COUNTER PRECIOUS METALS TRADING
42. 场外贵金属交易
GPM offers OTC Precious Metals in accordance to the terms and conditions in this Agreement as supplemented by the information published on GPM's web site from time to time.
环球贵金属根据本协议的条款及细则，以及在环球贵金属不时在网站发布的补充性数据提供场外贵金属交易。
43. SEVERABILITY
43. 可分割性
Each of the provisions of this Agreement is severable and distinct from the others and, if one or more of such provisions is or becomes illegal, invalid or unenforceable; the remaining provisions shall not be affected in any way. In the event that any provision would be invalid if part of the wordings thereof were not deleted, the provision shall apply as if the relevant wordings were deleted.
本协议之各条款均独立于其它条款，并可与其它条款分离。若该等条款之任何一条或多条属于或变成违法、无效或不能强制执行，其它条款在任何方面概不受任何影响。若任何条款之部份字句若不删除即令该条款无效，则在适用该条款时，该等字句应被视作已被删去。