BACK to download Management Kit MUTUAL FUND SWITCHING SERVICE AGREEMENT
This agreement is entered into by and
between Market Timing Systems, Inc.,
and__________________________________________________
("Investor").
A Mutual Fund switching service on behalf of the Investor, for
the account(s)
of the Investor, shall be performed by Market Timing Systems,
Inc. ("MTSI").
1) Market Timing Systems, Inc. will provide a daily mutual fund switching service for the Mutual Fund Company shares of funds offered by the Mutual Fund Company chosen by the Investor. Investor consents to and MTSI is thereby specifically instructed to buy, sell or transfer Investor's interest from one fund to another within the Mutual Fund Company's family of funds. The mutual fund account registration(s) shall at all times be in a name or entity specified by Investor, and at no time shall be deemed to be in the custodianship of MTSI. Investor shall have sole ownership of mutual fund shares and cash. MTSI's instructions to transfer shall be limited to transfers from fund to fund within the Mutual Fund Company's family of funds, the account(s) under which shall solely be in the name(s) designated by the Investor. No assignment of this agreement shall be made by MTSI without the consent of the Investor.
2) The Investor shall open account(s) with the Mutual Fund Company. The Investor herein appoints MTSI with a limited power of attorney and will notify the Mutual Fund Company of such appointment either by written instruction to the Mutual Fund Company, or by the Mutual Fund Company's own initial account opening application. Investor herein specifically consents to and instructs MTSI to transfer from time to time assets to and from "Bull" and "Bear" stock market funds, "Sector" funds, Bond funds and Money Market funds, at the discretion of MTSI on behalf of the Investor, for the account(s) of the Investor, within the Mutual Fund Company.
3) All monies placed with the Mutual Fund Company, and all subsequent profits therefrom are the sole property of Investor. With respect to Securities and Exchange Commission policies, Investor herein asserts, directs and acknowledges the Mutual Fund Company, not MTSI, to be the sole and exclusive custodian of Investor's account(s).
4) The Investor may receive timely notice of each switching transaction by calling the Mutual Fund Company and through direct mail from the Mutual Fund Company.
5) Suitability. Investor specifically asserts and warrants (and will periodically reexamine) the suitability of his account(s) for the MTSI leveraged timing and switching investment program. Since gains as well as losses can result, Investor understands the investment risks naturally inherent in leveraged timing methods that switch monies from one fund to another. MTSI does not guarantee the future performance of its mutual fund timing and switching program and/or whether such future performance will equal MTSI's prior history of performances. The MTSI program is best suited to investors with long term investment performance expectations.
6) Investor agrees that MTSI shall not be liable for MTSI's acts, or its failure to act, provided MTSI shall not have acted fraudulently, in bad faith or with willful misconduct.
7) Investor understands that the timing of mutual fund switches may involve a frequent transfer of monies from fund to fund within the Mutual Fund Company's family of funds. This sale and purchase of securities may result in either a gain or loss which is subject to applicable federal and state tax laws.
8) Non-exclusivity. The Investor acknowledges that MTSI's services are not exclusive to the Investor, and MTSI shall be free to render similar services to others, and may make trades for other accounts, including accounts owned by other investors, MTSI, its employees, its officers, its partners and its agents.
9 Termination. This agreement shall remain in effect until receipt of termination notice from the other party sent by fax or U.S. mail. After notice to MTSI, Investor will also contact the Mutual Fund Company to remove his account from MTSI's management. MTSI thereupon agrees that it will not thereafter act on behalf of that Investor account. Termination excuses all subsequent duties owed under this agreement by MTSI, but does not excuse the payment for services already rendered by MTSI on behalf of the Investor.
10) Governing Law. This agreement will be governed by the statutes of the State of California.
11) Management Fee Agreement. MTSI shall be compensated as follows by the Investor for its switching services:
11.1) Quarterly management fee. The fee shall be deemed earned and payable quarterly after the rendering of contract performance by MTSI. If a full quarter has not elapsed from the beginning of MTSI's performance, then the performance rendered will be pro-rated. "Quarterly" is defined herein as the period of three months ending with March 31, June 30, September 30, and December 31 of each calendar year.
11.2) Manner of management fee payment. There are two ways such fees may be paid: (A) Full and direct payment from the Investor to MTSI within 10 days after MTSI's billing, or (B) Automatic payment of fees from the Investor's Mutual Fund Company account as authorized on the Mutual Fund Company account application form, or by the making of a separate written order to the Mutual Fund Company or to MTSI by the client.
11.3) The Investor's account value and
management fee. Management fees are calculated based on the
Investor's account(s) total dollar value at the end of each
quarter. Any account additions or withdrawals during the billing
quarter will be pro-rated and appropriately adjusted. All fee
calculations are subject to audit. However, Investor should also
verify these calculations for correctness.
11.4) Management fee. The fee is determined after the end
of each calendar quarter per the following schedule:
Total account value Management fee $0 - $99,999 0.75% per quarter $100,000 - $249,999 0.625% per quarter $250,000 - $499,999 0.50% per quarter $500,000 and above 0.375% per quarter
12) Further Disclosure.
12.1) ADV Part II Summary. Investor acknowledges receipt of MTSI's U.S. Securities and Exchange Commission "Form ADV", Part II Summary.
12.2) Insider Trading. MTSI does not engage in "insider trading" of any kind.
13) Signature Page. This agreement becomes effective upon funding of Investor account, and receipt by MTSI of this agreement. The parties whose signatures appear below have executed the Market Timing Systems, Inc. "Mutual Fund Switching Service Agreement".
14) Investor Copy. Please make a copy of this Agreement for your personal record, and mail the original to MTSI.
_________________________________
________________________________
Investor
Title
(Partnership, Trust, Corporation)
________________________________
Investor
Address
_________________________________
City
State
Zip
________________________________
Phone Number
________________________________
Fax / Email
_________________________________
________________________________
Investor's
Signature Additional
Signature (if Joint Account)
Accepted by:
MARKET TIMING SYSTEMS, INC.
3110 Polaris Ave., Suite 15
Las Vegas, NV 89102
Tel. (702) 889-4655 Fax (702) 889-3970
Internet: www.mastertimer.com
Please choose:
[ ] Rydex Dynamic Funds: TITAN/TEMPEST (S&P 500) and the VELOCITY/VENTURE (NASDAQ 100) are all 2 : 1 leverage. Features a 10:30 AM (EST), and the regular 3:45 PM (EST) trading opportunity.
[ ] Rydex Series Funds : NOVA/URSA (S&P 500) and OTC/ARKTOS. NOVA is 1.5 : 1 leverage to S&P 500 Index. URSA, OTC and ARKTOS are a unleveraged 1:1 Has only the one 3:45 PM (EST) trading opportunity per day.
Mail signed Switching Service Agreement to MTSI. If you are transfering a account from another broker, mutual fund company, or other financial company, remember to also sign and mail to MTSI the TRANSFER - AUTHORIZATION FOR NEW OR EXISTING ACCOUNTS.
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©2001, Market Timing Systems, Inc.
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