Governance
August 9, 2024
The following sets out the general terms and conditions under which IDC VALORES, SOCIEDAD ANÓNIMA, an entity organized and domiciled in the Republic of Guatemala (hereinafter referred to interchangeably as “the Provider” and/or “IDC VALORES”), will provide its services to “the User,” the latter being understood as the natural or legal person, regardless of nature, nationality, or domicile, who, through https://idcnetwork.com/ (hereinafter referred to interchangeably as “the Platform”), registers, opens, and manages an account and/or any other service that may eventually be made available to the User (hereinafter referred to jointly and interchangeably as “the Services”). By accessing and using this Platform, the User agrees to be bound by all of these Terms and Conditions described below. If you do not agree with any of the provisions established herein, you must not use this site, https://idcnetwork.com/.
1.1 By registering on the Platform and using the Services, the User expressly understands and accepts that, from that moment on, the Provider will consider the Terms and Conditions to have been accepted for the use of one, several, or all of the Services. Likewise, the User understands and accepts that the Provider reserves the right to update and/or modify any of its Terms and Conditions at any time, with such changes being published on the Platform. The Provider shall also have the right to deny, restrict, expand, or condition the User’s access to the Platform, in whole or in part, at its sole discretion.
1.2 The Platform and the Services offered are specifically subject to the provisions contained in Decree Number 47-2008, which sets forth the Law for the Recognition of Electronic Communications and Signatures, and its amendments, with respect to the following: (a) communications and/or contracts that are sent and accepted electronically shall be valid and binding; (b) the User’s registration on the Platform, following acceptance of the Terms and Conditions, evidences the User’s express agreement and acceptance that communications and/or contracts may be made electronically; and (c) acceptance of these Terms and Conditions and those of each Service used by the User shall reflect the User’s express acceptance of the same, such that, given that such acceptance is evidenced electronically, the User may not deny its validity or binding nature.
1.3 The Provider does not guarantee the availability and continuity of the operation of the Platform and the Services, nor the usefulness of the Platform or the Services in relation to any specific activity. The Provider shall not be liable for any damage or loss of any nature that may be caused due to the unavailability of the Platform and/or the Services, including, by way of example and without limitation, failures in the internet access service, servers, or computer equipment. The content of the Platform shall be subject to change without prior notice.
1.4 The information contained on the Platform is not intended to provide tax, legal, or investment advice. Each User must decide on the suitability of any investment and must consult their own tax, legal, investment, or other advisor to determine such suitability.
1.5 The Provider shall not be liable for any impairment, loss, damage, or harm that may be attributed to it as a result of the use of the Platform and/or the Services, it being understood that it is the User who makes their own investment decisions when they consider themselves to be duly informed.
1.6 The Provider does not offer or purport to guarantee, explicitly or implicitly, the profitability of investment products, and therefore IDC VALORES and its employees or agents may not be subject to any type of claim in this regard. Past performance does not in any way guarantee future performance.
Upon accessing the Platform, an initial registration process (hereinafter referred to as “Onboarding”) will be completed, which may be carried out by the User or by a Relationship Manager authorized by IDC VALORES. Upon completion, a username and password will be provided through the registered email address so that the registered User may make use of the Platform.
2.1 During the Onboarding process, the User must comply with the required documentation and information, as well as proof-of-life checks, which may include, without this list being limiting: videos or photographs. Any proof of life may be subject to biometric verification, by any means the Provider deems appropriate; a process that is hereby recognized as valid and suitable for confirming identity.
2.2 The information and/or documentation may vary, as may the process for verifying identity, whenever the Provider so determines or in order to comply with current legislation. New documentation or information requirements will be communicated by any means the Provider deems appropriate.
2.3 By registering as a User, the User accepts and declares that all the information provided is true and has been presented completely and accurately; the User being solely responsible for any error or inconsistency that, according to the Provider, exists in and/or arises from the information provided.
2.4 The Provider is expressly authorized by the User, in accordance with the Terms and Conditions, to collect and store the personal and non-personal information and data provided, such that it may be corroborated, cross-checked, shared, or made available to its suppliers, subsidiaries, affiliates, or related entities, and even to any authority that so requires. In accordance with the foregoing, by using the Platform and/or, therefore, any of the Services, the User expressly accepts that any transaction, communication, information, data, or comment may be collected, processed, managed, or even disclosed by IDC VALORES.
2.5 The Provider implements technical and organizational security measures to protect personal information from unauthorized access, alteration, or loss. However, no data transmission over the internet is completely secure, so we cannot guarantee the absolute security of the information and data.
2.6 The username and password, as well as any other codes, keys, sequences, or access credentials that may be provided to browse, access, log in, or otherwise use the Platform or the Services, shall be the sole responsibility of the User to keep confidential. The User is solely responsible for all activities that occur through the use of their account. Any indication that the username and/or password have been compromised must be reported immediately to the Provider through the authorized channels.
The use and enjoyment of the Platform and the Services is the sole responsibility of the User. Accordingly, the User undertakes to use them in accordance with the permitted functionalities and in such a way that they do not contravene the rules of use and conduct on the internet, the laws of the Republic of Guatemala, and the legislation in force in the country in which the User is located when using them. The Platform is for the User’s personal use, and therefore the User may not commercialize it in any way. It is prohibited to place or use the Services of the Platform on the User’s own sites or pages, or those of third parties, without prior written authorization from the Provider. Likewise, the User is prohibited from limiting or impeding the use of the Platform.
Through the Platform, the Provider offers the User an electronic interface by means of which the User may issue instructions to the Provider for the execution of transactions (hereinafter referred to interchangeably as the “Transaction Execution Service”). In order to make use of the Transaction Execution Service, the User acknowledges that the transactions will not derive from advice or recommendations from the Provider, thereby releasing the Provider from all liability, and the User fully assumes responsibility for their investment decisions, including ensuring that the transactions they request to carry out are in accordance with their objectives and the levels of risk they are able to assume.
Likewise, the User declares and expressly accepts that they are solely responsible for providing the funds necessary for the Provider to comply with the transaction execution instructions issued by the User. The Provider is released from all liability toward the User until the necessary funds have been provided in one of the IDC Investment Funds in the User’s name and the instruction to execute the respective investment has been received.
The User accepts and acknowledges that, in addition to the rights and obligations imposed by the laws in force in the territory of the Republic of Guatemala, and without prejudice to others that may arise in the future, the following shall apply:
5.1 To use the Platform and the Services in accordance with these Terms and Conditions.
5.2 To receive notifications of changes to the Terms and Conditions and/or to access these changes through the publications made by the Provider.
5.3 The ability to request, cancel, deactivate, and/or suspend any Service.
5.4 To request the correction of inaccurate or incomplete data and to request the deletion of their data when they decide to cancel any service provided by the Provider.
5.5 To comply with the Terms and Conditions and with all those laws, provisions, and regulations applicable to the Services they use.
5.6 To deliver to the Provider, without any exception, all the information and documentation (whether accounting, legal, financial, or of any other nature) required from the User, their representatives, employees, and any other person to whom the User grants access to the Platform.
5.7 To update, within the period set by the Provider, all required documentation and information so that the Provider and the Platform possess complete, up-to-date, and accurate information about the User and their business.
5.8 To use the Platform within the standards of good practice and information security, undertaking to keep the username and password private, as well as any other keys, codes, and sequences granted to them.
5.9 To use secure networks when making use of the Platform.
5.10 To refrain from disposing of in any way, commercializing, replicating, copying, altering, or modifying any trademark, sign, or distinctive symbol owned by IDC VALORES, its suppliers, affiliates, or subsidiaries.
The User undertakes to comply with all those laws, provisions, regulations, circulars, and any other rules regarding the prevention of the laundering of money and other assets and the financing of terrorism applicable and in force in the Republic of Guatemala, as well as the following provisions:
6.1 The User acknowledges and accepts that the mere fact of enrolling or registering on the Platform does not oblige the Provider to maintain a commercial relationship with the User or to provide them with services; especially if the User fails to provide the information and documentation necessary to comply with the policies and procedures established by the Provider within the framework of its “Know Your Customer” process and other policies relating to the prevention of money laundering and the prevention of terrorist financing.
6.2 In accordance with the foregoing, the User expressly declares that the funds to be received and/or used through the Platform do not come from illicit or presumably illicit activities; in particular, the User acknowledges and accepts that, upon any indication of one or more transactions related to the laundering of money or other assets and/or to the financing of terrorism, or any other related offense giving rise thereto, IDC VALORES will report any suspicious transaction to the competent authority.
6.3 Likewise, the Provider may, at its sole discretion, immediately and without the need for prior notice, suspend the use of the Platform and/or any of the Services upon any indication and/or suspicion that any of these activities are illicit, or may unilaterally terminate access to the Services without any liability for IDC VALORES, with subsequent notification to the User regarding the actions taken.
The User acknowledges and accepts that all information delivered and shared with them by the Provider, as well as that which they come into contact with through the use of the Platform (including, but not limited to, its source code, modules, manner of operation, and any type of content), shall be considered sensitive and confidential information, the property of the Provider, and susceptible to economic valuation.
7.1 In this regard, the User hereby acknowledges and accepts that such information is private, sensitive, and confidential in nature, and constitutes data of a reserved nature owned by the Provider.
7.2 The User hereby undertakes to maintain confidentiality and, in this regard, will not disclose, directly or indirectly, in any way, to third parties, the confidential information revealed to them by the Provider or which they access as a result of the use of the Platform.
7.3 The User acknowledges and accepts that they shall be solely responsible for the loss, theft, robbery, unauthorized use, or unauthorized disclosure of the confidential information of the Provider and/or the Platform that is attributable to them or attributable to their workers, collaborators, or dependents of any nature.
7.4 The User acknowledges and accepts that, in the event they receive a judicial, administrative, or any other type of request issued by any judicial or administrative authority, entity, or state body to disclose all or part of the Provider’s confidential information, the User must notify of such request immediately or, as the case may be, within a period not exceeding twenty-four hours from the moment they received such request. Likewise, the User must provide a complete copy of such request so that the Provider may exercise the legal actions to which it may be entitled regarding such request.
For the purposes of any disputes that arise from or relate to these Terms and Conditions and/or any of the Services, the User and the Provider waive the jurisdiction of our domiciles and submit to the jurisdiction of the courts of the city of Guatemala, with the law of the Republic of Guatemala being the applicable legislation. The User acknowledges that the use of the Platform and/or the use of the Services constitutes the voluntary and express acceptance of all the rights, obligations, and conditions established by IDC VALORES in these Terms and Conditions, as well as in those applicable to each of the Services, which the User must read, understand, and accept prior to their use.