Types of Financial Tools 

1. Spot trading 

Cash or spot transaction is the main transaction performed in the foreign currency market in case of which deliveries and payments are performed immediately after the transaction completion or within maximum two business days. Inecobank offers spot transactions in foreign currency and by precious metals at quoted prices. 

2. Foreign currency options and forwards 

Forward is an off-exchange, term, binding agreement that allows performing transactions in foreign currency and hedging foreign currency risks. Foreign currency option is a term, unbinding agreement by which the buyer or the seller reserves the right to perform buying and selling of foreign currency within adjusted term and price. 

Spot deals, spread groups, foreign currency options and forwards of foreign currency transactions performed in international financial market offered by Inecobank are described on “Our Services” link of www.inecotrade.am web-page. 

Foreign currency transactions in the international financial market are performed via special software of Inecobank. The Customer can perform transactions via personal electronic-trade account opened in the name of the Customer as well as get all the required information on its account and also complete information on transactions execution process in an on-line regime. 

Commission fees, expenses and other charges to use the Service 

Opening current account 

• According to the effective tariffs of current bank account in Inecobank. 

Commission fee from each transaction 

• An amount in AMD equal to 10 US dollars (at an exchange rate defined by the CBA for that day) – for each partial transaction in small volumes envisaged by the agreement concluded between the Customer and the Bank
• AMD 0 – for transactions in big volumes defined by the agreement between the Customer and the Bank. 

Customer’s Account Minimum balance (deposit account)

• Depositing a sum equal to USD 500 or Euros 500 by the Customer to the deposit account is a precondition for rendering foreign currency transactions execution service in the International financial market. Sums in other amounts can be determined on contractual basis. 

On the conditions, methods and terms of making payments by the Customer

Procedure and terms of contacting Customers

Customers are contacted via trade-settlement software and telephone communication.

Agreement term

Procedure of returning the consumer funds in case of termination of already concluded agreements

Acceptance and execution procedure of transactions performance orders and instructions

Transactions performance location

Policy aimed at the prevention of conflict of interests

List of necessary documents for using the rendered services

Attention
Upon execution of transactions in compliance with the requirements under the agreement it is THE CUSTOMER WHO BEARS THE RISK with regard to transactions. The Bank SHALL NOT REIMBURSE losses carried by the customer if those weren’t caused as a result of unfair behaviour of the company.