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Compensation Fund

1. General Provisions

1.1. This Regulation has been developed in accordance with the legislation of the Switzerland
by the current Charter of the Non-Commercial Partnership "EU Institutions Financial Regulatory" (hereinafter - EuIFR) and regulates the creation and use of the EuIFR compensation fund.

1.2. The Compensation Fund is formed in order to ensure the financial responsibility of the members of the Partnership for obligations arising from infliction of losses to the clients of the EuIFR-certified companies due to the services poor quality.

2.1. The Compensation Fund is formed by contributions from EuIFR certified companies. The transfer of contributions to the Compensation Fund is carried out to the Partnership settlement account or in another way that does not contradict the legislation of the Switzerland.

3.1. Payments from the Compensation Fund are possible only in cases where the EuIFR Council recognizes violations by EuIFR certified company, and the company, in turn, refuses to consider the claim and reimburse the client for the losses amount.

2.1. The Compensation Fund is formed by contributions from EuIFR certified companies. The transfer of contributions to the Compensation Fund is carried out to the Partnership settlement account or in another way that does not contradict the legislation of the Switzerland.

3.2. The resources of the Compensation Fund are spent exclusively for the purposes specified in Clause 1.3 of these Regulations.

1.3. Within the limits of the Compensation Fund, the Partnership is financially liable for the obligations of EuIFR certified companies specified in the documents governing the relationship of companies with clients, and spends money solely to reimburse losses arising from non-performance or improper performance of these obligations. Compensation Fund is within 2 000 000 USD.

2.3. It is not allowed to release a financial institution from the obligation to make a contribution to the Compensation Fund, including

• due to its requirements for the Partnership.

3.3. If the client's claim is recognized as justified and it is necessary to satisfy it, the EuIFR Council makes a decision on making the payment from the compensation fund. Payment is made no later than 10 working days after the relevant decision is made.

2.4. If the company is deprived of the conformity certificate in accordance with the current EuIFR Charter, the contribution made to the Compensation Fund is not refundable.

3.4. Payments are made to the payment details declared by customers, while EuIFR has the right to require all the necessary documents to identify the customer. If the client refuses to submit the required documents, EuIFR reserves the right to refuse payment from the compensation fund.