Schwab will process the corporate action for your account consistent with your election regardless of whether your distribution is paid directly from the issuer or indirectly by the borrowing counterparty. You acknowledge that it may not be possible to cancel a market or limit order once you have placed it, and you agree to exercise caution before placing all orders. In most cases, the initial equity requirement for the short sale of an equity security is 150% of the sales proceeds of the security, plus commissions. The most recent account agreement information is available atwww.schwab.com/accountagreements. When Schwab receives a request for a distribution from your Account, Schwab generally processes the request within two or three Business Days (unless the distribution is in connection with an unusual event such as death or divorce, in which case it generally will take longer to process the request). To collect a debit balance in your account; To investigate, detect and prevent fraud involving you or your account; To help us evaluate whether to grant, extend or modify the terms and conditions of any credit you have applied for or received; If a deposit of funds or securities to your account is returned. Schwab does not provide tax advice. Worthless and Non-Transferable Securities. The price of covering the short position can be higher than the price at which you sold short; therefore, you can sustain a loss on that transaction. Market orders (including marketable limit orders), in particular, are subject to immediate execution and as a general rule cannot be canceled once entered during market hours and shortly before market opening. You acknowledge that if you do not cancel an open GTC order, the transaction may be completed based on your original instructions. For settlement purposes, Schwab will round either up or down to the nearest penny any amounts owed to or from Schwab. The firm was rated #1 in the categories "Platforms & Tools" (11 years in a row), "Desktop Trading Platform . Schwab offers you two easy ways to access our automated touch-tone services: Call Schwab by Phone at 800-435-4000 and press *55 to continue your call using touch-tone. Schwab does not give tax or estate planning advice, but we may provide you with general tax and estate planning information and principles. You agree immediately to notify Schwab if you become aware of: You acknowledge that data, including email, electronic communications and personal financial data, may be accessed by unauthorized third parties when communicated between you and Schwab, Information Providers or Information Transmitters, using the Internet, other network communications facilities, telephone or any other electronic means. If you do not indicate a termination age, the Account will be set up using the default age for termination in the Custodian's state of residence. From time to time, Schwab may perform investment banking or other services for, or solicit such services from, companies mentioned in Information. The notice will describe the new terms and conditions of the Cash Features Program, your new Cash Feature, and the options available to you if you do not wish to accept the new Cash Feature. You will be connected to the appropriate page where you can choose account type and begin the online application. However, even when deposited funds are not available for withdrawal, you will receive interest or dividends on these held funds according to the Income on Free Credit Balances section in this document. Member SIPC. In the event that Schwab asks you to remove a Non-Publicly Traded Security from your Account, and you do not request a distribution of the Non-Publicly Traded Security from your Account, remove it from your Account, or transfer it to another custodian within sixty (60) days after Schwab provides you written notice that it will no longer hold the Non-Publicly Traded Security, you authorize and direct Schwab to distribute or transfer the Non-Publicly Traded Security directly to you. But we will not be liable to you if, for any reason, a payment order is not amended or canceled. PCRA account holders and RBS plan-level custody account holders should refer to the Charles SchwabPricing Guide for Retirement Plan Accountsfor information related to pricing. If we are unable to obtain shares to lend to you, you will not be permitted to transfer the short position to your Schwab Account. If you or Schwab designate a new Cash Feature after the close of business or on a non-Business Day, your Free Credit Balances will be invested or deposited into your new Cash Feature after the close of business on the next Business Day, and generally will begin earning dividends or interest on the Business Day following the next Business Day. Upon closing your account, we will either mail to you certificates or request a book-entry statement from the agent for nonfund securities held for you (if the physical certificates are being issued and transferred by the company and/or the Transfer Agent) or a check reflecting the cash balance in your account at the time it is closed, or both, in our sole discretion. Your Schwab Account and any transactions you make are subject to our house trading rules and policies and the following rules, regulations and policies, all as modified or amended from time to time: You agree to pay for all transactions you make and all authorized transactions in your account. In the event of a call, the partial shares to be called will be selected in an automated random selection in which the probability of your holdings being selected is proportional to the holdings of all Schwab customers who hold partial share positions in that security. See our Privacy Policy for how we treat your data. Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. You acknowledge that furnishing the necessary information and documents to Schwab does not constitute an order to buy/sell your restricted/control securities, and that you must place a separate order to buy/sell by telephone or using the Electronic Services. The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular trading hours, or upon the opening the next morning. Attn: Document Control An investment in a SchwabSweep Money Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Generally, the more orders that are available in a market, the greater the liquidity in that market. Become aware of any loss, theft or unauthorized use of your access number, password or account number; or any unauthorized use of the services or the market data. Charles Schwab leaves U.S. Chamber of Commerce - CNBC You may contact the FINRA public hotline at1-800-289-9999or on the Internet atwww.finra.org. This manual review may result in a delay in execution. We will tell you the results within three Business Days after completing our investigation. Sort columns by clicking on the column header. The equity level in your account falls below required minimums; Sufficient funds or securities are not deposited to pay for transactions in the account; A petition of bankruptcy or for the appointment of a receiver is filed by or against you; An attachment is levied against any of your brokerage accounts with us; You die or become incapacitated or incompetent; or. Schwab receives remuneration, such as liquidity or order flow rebates, from market venues to which orders are routed, and also pays fees for execution of certain orders. You agree that any such Schwab recommendation will remain in effect only for as long as we tell you that it will remain in effect at the time we make the recommendation. In any case, our liability arising from any legal claim (whether in contract, tort or otherwise) relating to the market data will not exceed the amount you have paid for use of the services or market data. The existence of a Non-Transferable Security in your Account may be noted with a notation of "N/A" for the value of that position on your account statements. We may provide you with one or more numbers, passwords, tokens, challenge questions, and/or other means of identification and authentication (collectively, a "Password") in connection with our wire transfer service. By not closing and/or continuing to use your account, you confirm your agreement to abide by the Account Agreement, as amended from time to time. Fax:* 1-877-535-3852. You acknowledge that Schwab is not responsible for notifying you of any upgrades, fixes or enhancements to any such software or for any compromise of data transmitted across computer networks or telecommunications facilities, including, but not limited to, the Internet. Until notified otherwise by Schwab, you agree to use software that supports the Secure Socket Layer (SSL) protocol or other protocols accepted by Schwab and follow Schwab's logon procedures for Electronic Services that support such protocols. A clearly erroneous trade occurs when someone has entered an order with an obvious error in any term, such as security identification, price, or number of shares. Working closely with Schwab Bank can help you make home lending decisions with confidence. For current fees, call1-800-435-4000. You must maintain a minimum amount of equity in your account to collateralize your outstanding loans and other obligations. Further, Schwab reserves the right in its sole discretion to require a cash or equity deposit at any time and to determine the adequacy of any such deposit prior to the execution of any transaction through the Electronic Services. All securities and other assets in your Schwab accounts are pledged as collateral to secure this loan. You have the right to cancel a consumer foreign wire transfer and obtain a refund of all funds paid to us, including any fees. Although Schwab seeks access to major trading systems, exchanges, and dealer markets in an effort to obtain competitive pricing, at any given time it is possible that securities could be available through other trading systems, exchanges, or dealers at superior or inferior prices compared to those available at Schwab. The Custodian agrees to transfer and deliver to the beneficiary all securities and other property held in the Account promptly upon the beneficiary attaining the age specified by the governing state law for termination of the custodianship. If you tell us orally, we may require you to send us your complaint or question in writing within 10 Business Days. Unauthorized access is prohibited. As a general guideline and when it is practicable to do so, we can (but are not required to) issue a margin call when the equity in your Margin and Short Account falls below Schwab's minimum maintenance requirement. You are responsible for reviewing all of your account statements, any amendments to your account agreement(s), any regulatory notices and any other information that is sent by Schwab. Schwab does not create or prepare any of this third-party information, and it gives no assurances as to its accuracy, quality or timeliness and does not warrant any results from use of any such information; Any research, analysis, news or other information made available through electronic channels (e.g., the. In general, personal property is considered unclaimed if you have not performed at least one of the following activities within the period of time set by the state: Before we turn over the assets in your account (if any), we will, as required by law, send a notice to the address we currently show on your account statement. You agree that we may correct any execution reported to you that was based on inaccurate market data provided to us by an exchange or a market center. You further agree to abide by any rules, procedures, standards, requirements or other conditions we may establish in connection with the use of our Electronic Services or any other electronic communications services made available by Schwab. You agree to review the Terms of Service and not to use or not to continue use of the Service if you do not agree to pay the applicable fees. If you fail to notify us in writing within 10 calendar days after we send or make available to you the first notice or statement on which the problem or error appears, you agree that the transfer information set forth on the statement or notice will be deemed correct, and that you will be precluded, to the greatest extent permitted by law, from asserting any claim against Schwab in connection with, and waive any right to recover any losses resulting from, any unauthorized or erroneous transfer. The Account Agreement is binding upon your and our heirs, executors, administrators, successors and assigns, and it will benefit your and our successors and assigns, if any. A voluntary corporate action will require an election from you before Schwab's cut-off date to indicate if and how you want to participate. You will not receive a separate confirmation for transactions in your Cash Feature. Foreign stock exchanges and regulatory authorities require that you report, and in some cases seek pre-approval for, acquiring ownership in foreign listed securities above certain thresholds or in certain industries. Find workshops View All Branches However, we reserve the right to take any such action without prior notice or demand for additional collateral, and free of any right of redemption. If you fail to choose (or change) your desired cost basis accounting method prior to trade settlement, you may have adverse tax implications. Under ACH rules, funds transfers sent through an ACH system are provisional and may be revoked prior to final settlement. to the Identified Cost Method with the FIFO Lot Selection Method. We are entitled to exercise the rights described in this section in our sole discretion, including whenever any of the following occurs: You agree to designate a sell order as a short sale if, at the time you place the order, you either do not own the security being sold or are unable to deliver the security in a timely manner. We retain absolute discretion to determine whether, when and in what amounts we will require additional collateral. Their rates start at 8.325% for loans up to $25,000 and go down the more you borrow, with the lowest rate . In no event will Schwab be liable for any costs, damages, expenses or any other liabilities incurred by you as a result of such activities by Schwab; You will not use any electronic communication feature of the Electronic Services for any purpose that is unlawful, abusive, harassing, libelous, defamatory, obscene or threatening. If a fund declines your purchase order for any reason other than the time we placed the order with the fund, we will cancel the order and, if practicable, attempt to notify you; we will not make another attempt to place such a declined purchase order with the fund. Certain fees and other items relating to your account are calculated by considering (i.e., aggregating) activities and balances in the Accounts of Your Household. You are responsible for monitoring the status of your account, for ensuring that sufficient collateral is maintained in the account and for liquidating positions to minimize losses. You agree that, after such notice, your enrollment in or acceptance of such products, services or offers, or your new access to the web or Electronic Services, constitutes your consent to electronic delivery of trade confirmations, account statements, prospectuses, issuer information or other documents. You agree to waive any objections to the trades, positions, funds transfers, checks, disbursements, fees and other information set forth on any confirmations and account statements unless you notify us of an unauthorized transaction or other error in writing within 10 days of mailing. If you do not want your account data included with data from other Accounts of Your Household for such purposes, you agree to contact Schwab. We'll need the following information: We will tell you the results of our investigation within 10 Business Days after we hear from you and will correct any error promptly. In other words, if this is a joint account, your TCP will not necessarily apply to your joint account holder. Any party may initiate arbitration by filing a written claim with FINRA or such eligible national securities exchange. The company averages 6 million trades per day across 34 million client accounts worth $7.1 trillion. In extended hours trading, these announcements may occur during trading and, if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security. You also acknowledge that when you direct Schwab to wire or transfer funds to an issuer or sponsor of a Non-Publicly Traded Security, Schwab will not have any responsibility or liability if the issuer or sponsor involved does not provide the required receipt or confirmation of the investment in a manner that would allow Schwab to hold the security in your Account. Orders for the after-hours trading session can be entered and will be eligible for execution beginning at 4:05 p.m. Accordingly, you may receive an inferior price in one extended hours trading system than you would in another extended hours trading system. Risk of News Announcements. If you place an order to buy or sell a specific dollar amount of a mutual fund, Schwab will calculate the number of shares bought or sold by dividing the dollar amount of the order by the price and rounding to the nearest three decimal places. Schwab will not undertake to review or assume responsibility for the terms and conditions or contents set forth in such documentation, including, but not limited to, appropriateness or suitability, restrictions of ownership, rights of transfer, financial statements, or the adequacy of disclosure or compliance with applicable laws, rules, and regulations. Schwab can charge a fee when you request a transfer of assets from the Account to another financial institution (a "TOA"), as set forth in the applicablePricing Guideor fee schedule. If you think there has been an error or problem with your wire transfer: You must contact us within 180 days of the date we promised to you that funds would be made available to the recipient. Schwab can receive and retain certain benefits (including, but not limited to, interest on collateral posted for such loans) to which you will not be entitled. Any attempt you make to cancel an order is simply a request to cancel. Clearly Erroneous Policy:Schwab may be subject to the Electronic Market's "clearly erroneous policies." Risk of Changing Prices. This can happen for various reasons. By submitting an account application, you authorize us to: You also authorize your wireless carrier (AT&T, Sprint, T-Mobile, US Cellular, Verizon, or any other branded wireless operator) to disclose information about your wireless account, such as your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status, subscriber method and device details, if available, to support identity verification, fraud avoidance and other uses in support of transactions for the duration of your business relationship with us. You agree that we are not liable for any damages or market fluctuations resulting from an error you fail to timely report to us or to your delay in reporting an error to us. In that event, you will be treated as if you had sold the shares short and can be subject to margin fees and stock loan fees. You shall abide by any additional limitations on use of quotes that Schwab may specify in the future. 1. Schwab may ask you to remove any Non-Publicly Traded Security from your Account at any time and for any reason. You, and any agent or representative acting on your behalf, agree that we may, but are not obligated to, record telephone calls or listen to conversations you have with any Schwab representative to monitor the quality of the customer service you receive and to verify securities transaction information to banks, mutual funds and other entities regarding the products or services we offer or arrange on behalf of customers, or for other business reasons. Margin calls require prompt delivery according to our instructions of either additional funds or acceptable securities. We can charge a fee for providing this market data. TD Ameritrade & Charles Schwab: What to Know | TD Ameritrade Securities that are fully paid for or are deemed "excess margin securities" under applicable securities laws may not be pledged, repledged, or used unless you have signed a separate written agreement that gives us the right to do so. If my Schwab Account is converted into another account at Schwab, whether by closing my Schwab Account and opening another account or otherwise, I agree to read and be bound by the terms of the agreement governing that other account as currently in effect at the time of conversion and as amended thereafter from time to time. We will also bear all administrative costs of the Schwab StockBuilder Planassociated with reinvestment in SCHW stock. In the event of a rights offering to holders of an eligible security, we will cause the rights accruing to all partial shares of that security that are subject to the Schwab StockBuilder Planto be sold, and we will invest the proceeds in shares of that security. For that type of assistance, you agree to consult your own tax or legal advisor. We have cutoff times for processing payment orders. However, we may provide you with general tax and estate planning information and principles. More detailed information on cost basis is available in the Cost Basis Disclosure Statement, located onschwab.com. Notwithstanding the foregoing, with respect to any retirement plan brokerage custodial account (including a Company Retirement Account [CRA] or Personal Choice Retirement Account[PCRA]) subject to the terms of this Agreement, you as the plan's Trustee or other applicable plan fiduciary or agent, further acknowledge and agree that Schwab has no responsibility for determining whether any transaction or investment would constitute a prohibited transaction, generate unrelated business taxable income, or constitute a listed transaction or reportable transaction, as any of those foregoing terms are defined in the Internal Revenue Code and regulations thereunder, or to inform you of the consequences and/or reporting requirements with respect to such transactions. Commissions, transactions (including mutual funds), and order handling fees; Reports relating to your account requested by you or that are required by law; Fees associated with transactions in Schwab proprietary non-sweep money funds; Charges for failing to maintain minimum balance requirements.
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