General Business Terms of Eurohaus d.o.o. Sarajevo Brokerage House

General Terms

Article 1

General Business Terms regulate mutual relationships and represent the basis for Contract conclusion on brokerage operations between the Eurohaus d.o.o. brokerage house (hereinafter referred to as: the Brokerage House) and a purchaser of brokerage operations (hereinafter referred to as: the Customers). Beside the brokerage operations, the brokerage house deals with operations based on the decision made by the Securities Commission of Federation of Bosnia and Herzegovina No. 04/1-19-11/06.

1. Description of operations carried out for Customers by the brokerage house

Article 2

Brokerage House offers the following services regarding the brokerage operations:

1. receipt of orders for purchase or sale of securities
2. execution of orders by the Brokerage House for the benefit of the Customers at stock market or any other ordered market
3. maintenance of accounts of dematerialized securities
4. ensuring of issue of securities
5. acquisition of companies
6. operations regarding introduction of securities into public trading
7. operations regarding transfer of securities ownershio
8. technical organization of issue of all kinds of securities
9. operations regarding representation at meetings of stock companies
10. operations regarding preparations of inaugural meeting
11. informing of Customers on the market conditions.

2. The way of performance of brokerage services

Article 3

The Customer of the brokerage house may issue an order for purchase or sale of securities at the following locations:
- in the premises of the Brokerage House
- in the offices of the Brokerage House
- in the premises of other companies that the Brokerage House has the signed contract with regarding the receipt of orders out of the premises of the Brokerage House.

Article 4

For the purpose of issuing an order for purchase or sale of securities, the Customer of the Brokerage House is obliged to sign the contract with the Brokerage House on brokerage operations based on General Business Terms of the Brokerage House approved by the Securities Commission of Federation of Bosnia and Herzegovina.

Article 5

General Business Terms and the Services Price List shall be submitted to the Customer before the Brokerage Contract conclusion and shall be available to the Customers in all the premises where the Brokerage House runs business with the Customers and at any time during the validity of the Brokerage Contract.

Article 6

The Customer wishing to issue an order for purchase of securities shall pay in advance 100% of the amount intended for purchase of securities plus transaction costs to the following depository bank account of the Brokerage House: HVB Central Profit Banka d.d. Sarajevo ; account No. for payments from for B&H is 1290059404165669; purpose of payment: �purchase of shares�. Possible price distinction shall be settled after the execution of the order. Taking into account permanent business relations with the Customer, business intensity with the Customer, Customer's financial power and other reasons, the Brokerage House may define lower advance payments in accordance with current acts of the Securities Commission of Federation of Bosnia and Herzegovina. The deadline for advanced payment is two (2) days.

Article 7

The Customer wishing to issue an order for sale of securities shall ensure the securities, being the subject of the order, to be on Customer's account with Securities Register, in order for the securities to be transferred to the account open at the Brokerage House.

Article 8

After the Brokerage Contract conclusion and before issuing of the first Customer's order, the Brokerage House shall open the account for the Customer with the Securities Register in Federation of Bosnia and Herzegovina recording the account balance of securities on behalf and for the benefit of the Customer. Signing the Brokerage Contract, the Customer shall authorize the Brokerage House to open the aforesaid account with the Securities Register in Federation of B&H.

Article 9

The Brokerage House shall accept the Customer's order if it was issued in accordance with the law and regulations. The Customer's order shall be accepted when the Brokerage House receives all the data, from the Customer, prescribed for execution of the order and when the terms mentioned in Articles 7 and 8 of the General Business Terms are fulfilled.

Article 10

The Brokerage House may refuse to accept the order from the Customer in the following cases:

1. If the Customer, in case of order for purchase, fails to fulfill the term from Article 6 of General Business Terms,
2. If the Customer , in case of order for sale, fails to fulfill the term from Article 8 of General Business Terms,
3. if acceptance of order produces conflict between interests of the Customer and of the Brokerage House ; if the person authorized for order acceptance has justified reason to refuse the Customer's order, the authorized person shall inform the Customer on the reasons why the order was refused.

Article 11

Accepted, changed and revoked orders shall be entered in the Book of Orders according to the time they were received and shall be executed by the same time schedule. Upon the Customer's request, the Brokerage House shall submit it the excerpts from the records referring to its operations.

Article 12

Customer's signatures on the order confirm it unconditionally accepted the certificate on order receipt.

Article 13

In case of change or cancellation of order, the Brokerage House shall immediately give the Customer a certificate on change or cancellation of order. In case the Customer fails to act next working day after the receipt of certificate, it shall be considered that the Customer confirms the accuracy of the data in the certificate.

3. Basis for operations

Article 14

Basis for operations with securities executed by the Brokerage House are Customer's orders for purchase or sale of securities entered in the Book of Orders. The orders may refer to brokerage operations at stock market or any other ordered public market. Accepted orders, changes and cancellations shall be entered in the Book of Orders according to the time schedule they were received and shall be executed so. In case of accepting the Customer's order out of the premises of the Brokerage House, the time of receipt of copy of order by fax in the Brokerage House shall be considered the time of receipt of order.

3.1 Types of order

Article 15

Basic types of order that the Customer may give the Brokerage House are the following:

1. market order (in case of auction trade)
2. limit order (as for price and time of execution)
3. prudence order

3.2. Description of orders

Article 16

- In case of trade order, the Customer shall not define the price limit or purchase or sale of securities but the order shall be executed at the best possible price at market on the trade day in case of auction way of trade;
- In case of limit order, the Customer shall define limits for purchase or sale of securities, i.e. the time of its fulfillment is limited;
- In case of prudence order, the Customer shall not define the price for purchase or sale of securities but shall authorize the Brokerage House to issue an order when it estimates, by its prudence, the best time for execution of order for the benefit of the Customer.

Article 17

Order may also have additional terms.
- �neck or nothing� orders � order is executed only if total amount of orders is executed;
- open orders � order is valid until its execution in the market and not later than 6 months from the date of its entrance or its cancellation from the market;
- daily orders � order is valid only on the date of its entrance
- other orders � it�s also possible to combine different orders and the terms above mentioned.

Article 18

Order for sale of securities is simultaneously order for transfer of securities from the Customer�s account to the account of the Brokerage House due to the fulfillment of sales conditions.

3.3. Contents of orders

Article 19

Mandatory elements of order for purchase and sale of securities are:

1. company and headquarters of the Brokerage House;
2. first name, surname, address, ID No. in case that the Customer is an individual;
name, surname, address and ID. No. of the person authorized to sign ordered for purchase and sale of securities in case that the Customer is a company;
3. Customer�s code assigned by the Brokerage House during the signature of the Contract on brokerage operations;
4. date and time of order acceptance, registration No.;
5. Customer�s account No. with Securities Register in case that the Customer has open account;
6. name of stock market or any other ordered public market trading with securities being the subject of the order;
7. identification mark of securities valid in the stock market or any other ordered public market trading the mentioned securities;
8. No. of securities purchased;
9. terms for execution of orders regarding dynamics of execution and limits in price and quantity;
10. amount or percentage of commission belonging to the Brokerage House as well as of total costs of order execution;
11. risk in dealing with securities and the lack of guarantee that the securities purchased by the Customer shall bring any profit;
12. Customer�s signature, signature of the person authorized by the Brokerage House to accept orders and of the person authorized by the Brokerage House to control the orders;

3.4. Ways of delivery of brokerage orders

Article 20

Customer may deliver the Brokerage House an order for purchase or sale of securities in the following ways:

- personally (signing the order form)
- by post (sending the signed order form by post)
- by fax
- by e-mail
- by phone (phone orders are recorded)

Article 21

In case the Customer fails to issue on order personally or by post, it shall be confirmed additionally in writing by delivery of the signed order form not later than the next working day after the receipt of the order. If the Customer is a company, the Brokerage House shall accept the order only from the person named in the Brokerage Contract being authorized to sign orders for purchase and sale of securities.

Article 22

In case of accepting the orders out of the premises of the Brokerage House, the person authorized to accept the orders in offices or in premises of the company that the Brokerage House has signed the contract with on the receipt of orders shall send a copy of order by fax into the premises of the Brokerage House right after the receipt of the order and not later than the end of the same day.

3.5 Ways of execution of particular orders

Article 23

Brokerage House shall execute Customer's order for purchase i.e. sale of securities inputting the order into informatics trade system i.e. by publishing Customer's offer or demand in stock market or in any other ordered public market. Brokerage House shall execute Customer's order immediately after fulfilling of the conditions for order. Brokerage House shall execute Customer's orders for purchase and sale of securities by the order of receipt of orders. Brokerage House shall execute a prudence order when, acting as a careful and devoted broker, it estimates the situation at market and concludes that the execution of order is for the best Customer's interest.

3.6 Market terms

Article 24

Orders for purchase or sale of securities, regarding the execution dynamics, price and quantity limits, shall be executed according to demands of the owner of securities and the prescribed rules of stock market or any other ordered market.

4. Book of Orders

Article 25

Brokerage House shall keep the Book of Orders, i.e. the records of orders and operations with securities according to current business rules on operations with securities. Upon the Customer's request, Brokerage House submits the documents from records referring to its operations. Mandatory elements of the Book of Orders are as follows:

1. date, hour, minute and way of receipt of order,
2. name and headquarters of ordering party followed by the name and the surname of the person who issued the order, or name, surname and personal identification No. of the individual being ordering party,
3. securities mark that the order relates to,
4. instructions for order execution: price, price limit and validity date of order,
5. note on reserved right to order cancellation and cancellation deadline,
6. date, time and way of order execution,
7. minimal, maximal or exact number of securities to be purchased or sold,
8. instructions on the way of order execution for each particular order in respect to execution dynamics and quantity limits.

No corrections of data entered in the Book of Orders shall be allowed. Securities Commission of Federation of B&H may prescribe some other mandatory elements in the Book of Orders.

5. Prices of brokerage services

Article 26

The Customer shall be charged for services provided in the form of commission according to the Services Price List being integral part of General Business Terms. Brokerage House shall submit the Services Price List and General Business Terms in any premises intended to operating with customers.

6. Information needed for conclusion of brokerage contract

Article 27

In order to conclude brokerage contract, the Customer shall supply the Brokerage House with the following information:

1. name, surname, address and ID No. in case that Customer is individual, i.e. name of company, headquarters, registration No., name and surname of person authorized to represent a company in case that the customer is a company;
2. phone No., fax No., e-mail both in case of individuals or companies as Customers;
3. Customer's account No. and the name of the bank where the Brokerage House shall pay the Customer's funds in.

7. Responsibility of ordering party for completeness and correctness of information

Article 28

The Customer guarantees correctness and authenticity of information mentioned in Article 27. In case that the Customer refuses to provide information indispensable for contract conclusion, the Brokerage House shall refuse conclusion of the brokerage contract. The Customer shall bear all responsibility for any consequences resulted from incorrect and incomplete information having been the basis for contract conclusion.

8. Description of the system of data recording

Article 29

Information from brokerage contract as well as records of issued and executed orders shall be kept in computer database and original documents shall be permanently filed in the premises of the Brokerage House altogether with original Certificate on receipt of order and original Settlement of executed order. Information on customers, their property and records on their operations with securities shall be confidential for the Brokerage House. Access to data considered confidential shall be allowed to authorized persons in the Brokerage House only.

9. Possibility of insight into information on securities

Article 30

The broker shall provide the Customer with insight into all publicly available information on securities as well as on general trends in securities market. Neither brokers in the Brokerage House nor the staff from other companies in which the orders are received for the Brokerage house shall advise the customers on purchase or sale of securities or shall exert their influence, in any way, on the customers' decision on purchase or sale of securities.

10. Investment risk

Article 31

Investing in securities brings certain risk. By signing the brokerage contract and issuing an order for purchase or sale of securities, the Customer expresses agreement with previous paragraph and readiness to achieve the price lower than the one he reached during the purchase of securities, due to the market trends. The Brokerage House and the brokers shall not take any responsibility for the consequences of the Customer's decision.

11. The way of change of order

Article 32

The Customer may change the order only in the case the order has not been executed i.e. there is possibility for its execution to be prevented. If the Client changes the price or the quantity of securities from the order issued to the Brokerage House, the new price or the new quantity shall be considered the new order. The order shall be considered changed after the Brokerage House receives written confirmation on order cancellation accompanied by the new order with changed elements.

12. Cancellation of order

Article 33

The customer may revoke the order only in case it has not been executed yet i.e. there is possibility for its execution to be prevented. The order shall be considered revoked upon confirmation of revocation made by the Brokerage House.

13. Ways of execution of obligations resulted from order execution

Article 34

1. Brokerage House shall ensure that the securities it purchased in ordered market for benefit of the Customer and according to purchase order, shall be transferred to the Customer's account with Securities Register three days after order execution (T+3; T=transaction mark; 3= number of working days after the transaction)
2. On the basis of purchase of securities for the benefit of the Customer, the Brokerage House shall collect the transaction costs from the amount of advanced payment, on the day of order execution,
3. As for the sale of securities, Brokerage House shall fulfill its financial liabilities toward the Customer four days upon the order execution (T+4),
4. As for the sale of securities, the Brokerage House shall pay the Customer funds obtained from the sale reduced by the transaction costs.
5. In case that the Customer, by the end of the week the transaction was made, fails to sign the settlement, the Brokerage House shall send the client the settlement on executed operation in the end of the week the obligations were fulfilled for the benefit of the Customer.
6. Upon the request of the Customer � company , Brokerage contract may specify the transaction costs to be paid by invoices sent to the Customer after the transaction made and in that case the Customer shall settle the liabilities on account of Eurohaus d.o.o. within two days.

14. Possibility of change of contents of General Business Terms

Article 35

General Business Terms as well as their amendments and changes shall come into force after agreement provided by the Securities Commission of FB&H. The Customers shall be informed on changes of General Business Terms the same way they are informed on General Business Terms themselves.

15. Possibility of insight into General Business Terms at any time during their validity period

Article 36

The Customer shall be entitled to have insight into General Business Terms at any time of their validity period in all premises intended to operations with the Customers.

16. Final provisions

Article 37

Any case not described in these terms shall be subject to agreement between the Customer and the Brokerage House, stock market business customs and current laws.
Any disputes that cannot be resolved in amicable way between the Customer and the Brokerage House shall be under jurisdiction of competent court in Sarajevo.

Article 38

These General Business Terms of the "Eurohaus d.o.o. Sarajevo" brokerage house were approved by the Securities Commission of FB&H, issuing decision No. 04/1-19-397/06 dated 24.08.2006.