VISION L.P.
FORM 4
INTRODUCED ACCOUNTS
Customer's account was introduced to VISION by the following independent introducing broker, futures commission merchant, commodity trading advisor, or securities broker/dealer:________________________________________________
("Independent Firm").
1. Customer's account is carried by VISION only as a non-clearing futures commission merchant. Customer agrees VISION's role is limited to execution and bookkeeping for transactions for the account. VISION shall be liable only for its gross negligence or willful misconduct in the execution of trades or bookkeeping. The law requires Customer to send all funds to VISION, and for VISION to provide statements to Customer for the account, not the Independent Firm.
2. VISION is separate from the Independent Firm. There is no overlap in owners, principals, officers, directors or employees. VISION does not pay for any of the operating expenses of the Independent Firm. The Independent Firm is a customer of VISION. Under the terms of its agreement with VISION, the Independent Firm is free to introduce this account to a clearing firm other than VISION. The Independent Firm is free to terminate its agreement with VISION at any time. VISION does not set the amount of commission you are charged. This is negotiated between you and the Independent Firm. VISION receives only a small fee paid by the Independent Firm that is reasonably related to VISION's actual cost of trade execution and bookkeeping. The agreement between VISION and the Independent Firm expressly precludes the Independent Firm from representing that it is an agent of VISION. If such representations have been made, Customer agrees to report it directly to VISION immediately. ACCORDINGLY, CUSTOMER HEREBY WAIVES ALL CLAIMS UNDER COMMON LAW, FEDERAL OR STATE STATUTES, OR SECTION 2(a)(1)(A) OF THE COMMODITY EXCHANGE AC7, THAT VISION IS VICARIOUSLY LIABLE FOR ANY ACT OF THE INDEPENDENT FIRM OR ITS BROKERS.
3. VISION has no duty to supervise the Independent Firms. The Independent Firm is audited by the National Futures Association or another self-regulatory organization-not by VISION. The Independent Firm has complete discretion over whom it employs as brokers. The Independent Firm has its own compliance department and procedures governing solicitation of Customer's account. VISION is not responsible for the conduct, representations, or statements of employees of the Independent Firm. VISION provides no research, trading recommendations, or promotional materials to the Independent Firm. VISION has no duty to monitor trading in Customer's account to determine if it is consistent with Customer's objectives. ACCORDINGLY, CUSTOMER HEREBY WAIVES ALL CLAIMS UNDER COMMON LAW, FEDERAL OR STATE STATUTES, OR SECTION 13 OF THE COMMODITY EXCHANGE ACT, THAT VISION AIDED AND ABETTED ANY ACT OF THE INDEPENDENT FIRM OR ITS BROKERS.
4. CUSTOMER HEREBY WAIVES ALL CLAIMS UNDER COMMON LAW, FEDERAL OR STATE STATUTES, OR SECTION 4b OF THE COMMODITY EXCHANGE ACT THAT VISION HAS A FIDUCIARY DUTY TO CUSTOMER.
5. Customer agrees to indemnify VISION for all losses, including attorneys' fees, VISION incurs as a result of acts or omissions by the Independent Firm. If Customer initiates a legal action, regardless of form, against VISION, and Customer does not prevail, Customer will indemnify VISION for all costs and expenses incurred, including attorneys'fees, which may be substantial.
THIS IS A CONTRACTUAL AGREEMENT. DO NOT SIGN BELOW UNTIL YOU HAVE READ THIS AGREEMENT CAREFULLY.
DATE: _____/_____/_____
X: ______________________________________________________________
DATE: _____/_____/_____
X: ______________________________________________________________