When developing the simple wealth management agreement, the following points must be taken into account: This agreement is concluded between the owner and the asset manager as of November 10, 2011. Asset management refers to the practice of managing investments on behalf of others. It is managed by an asset management company that is a financial services institution or may also be an individual. This company determines which financial products to invest in and which products should be avoided. The main idea is to take advantage of investments and reduce the risks associated with them. Investors are mostly wealthy individuals (HNWI), governments and corporations. They invest in different sectors such as real estate and finance. This has led to different asset management categories, such as asset management. B, real estate asset management agreement, IT asset management and asset management. ZERICH SECURITIES LIMITED (`Asset Manager`), a company created in accordance with the laws of the Republic of Cyprus, at the registered address: Grigori Afxentiou, 13-15 I.D.E. IOANNOU COURT, Flat/Office 202 Mesa Geitonia, P.C 4003, Limassol, Cyprus, registered No. 252803, concludes this asset management agreement (hereafter referred to as “agreement”) with the client who wishes to call on the company`s services (asset manager and client are also referred to as “party” and “parties” collectively).
The client concludes this contract by signing the letter of application (Annex 1) and the asset manager registers the above application and, if the client meets the requirements of the current commitment and contract, he sends the notification to the customer (Annex 2). In simple asset management agreements, the parties can decide each other`s scenario in the event of a breach of their terms. If a party is late in payment, the asset management contract is terminated. The defaulting party may be asked to compensate the other party by paying an amount corresponding to the damage suffered. Both parties should agree on a dispute resolution mechanism. The preferred mode is arbitration. However, if the agreement does not specify a specific type of dispute resolution, the aggrieved party may sue the defaulting party in the district court for breach. A major drawback of the asset management contract is that the client gives some control to the asset manager.
Although it can negotiate the terms of the agreement and decide what limits the manager operates to, the final action is taken by the asset manager.