Wrap Fees Rebate Program Terms and Conditions
The following terms and conditions (the ‘’Terms & Conditions”) govern participation in the Wahed Invest LLC (the ‘Firm’’ or ‘Wahed”) ‘ Wrap Fees Rebate Program (the ‘’Program’)’ . By participating in the Program, you agree to abide by these Terms & Conditions; failure to do so may result in the forfeiture to collect your Program rebates. In turn, please read the following details of the Program’s Terms & Conditions carefully. This Program may be discontinued at any time at Wahed’s discretion. Please see your Client Agreement for the meaning of any capitalized terms that are not defined in these Terms & Conditions.
1. Eligibility
Who is eligible to receive this rebate?
New and existing Wahed clients are eligible to receive the rebate. Eligible clients will be able to take advantage of the program from the day of the first marketing promotion of this Program until January 31, 2025.
To qualify for the rebate, clients must deposit a minimum of $10,000 in newly added funds into their account (“New Funds”). This minimum balance must be maintained to remain eligible for the rebate program. If the balance falls below $10,000 due to a withdrawal, the rebate will be forfeited. However, if the balance drops below $10,000 due to market fluctuations, the client will still be eligible for the rebate.
2. Rebates
Eligible clients will receive a 6-month waiver or rebate on the newly deposited funds in their Wahed account, in the case of a rebate,the amount will be distributed in two installments: once at the end of the first 3 months and again at the end of the 6-month period.
This Program applies only to the portion of the Wrap Fee related to such New Funds in an eligible client’s account and is contingent on the eligible Client’s compliance with these Terms & Conditions. Wahed reserves the right in its sole discretion to revoke the fee rebate in the event of any breach of the Program's requirements by the eligible client.
Rebate Payment
- The rebate amount will begin accruing from the first billing cycle after the New Funds are deposited in your Account..
- The rebate will only be distributed to you Individual Investment Account and will be made in two installments: The first payment will take place 4 months after the program concludes on January 31, 2025. The second payment will occur 6 months after the program's end date.
3. Limitation
Eligible clients will only receive a rebate of Wrap Fees associated with the New Funds and rebates do not extend to other fees, charges, or accounts outside the scope of this Program.
4. Additional Terms & Conditions
In connection with your participating in the Program, you agree to the restrictions listed below:
A. Wahed reserves the right to decline requests to enroll in the Program and to revoke, rescind, or modify any Rebate at its sole discretion at any time and without notice for new and existing members of the Program.
B. Wahed reserves the right to refuse or recover any Rebates if Wahed determines that: (a) your eligibility was the result of wrongful, incomplete, inaccurate, or fraudulent circumstances or if terms and conditions of this Program were violated; or (b) Wahed is or may be required to do so by law or by any regulatory authority, court order, facially valid subpoena, or binding order of a government authority.
C. By participating in this Program, you agree to release, discharge, indemnify, and hold harmless, Wahed, its affiliates, and all of their respective officers, directors, partners, and employees from any liability or damages that may result out of participation in this Program.
D. Other restrictions may apply as determined by Wahed from time to time in its sole discretion and without notice.
E. Eligibility for and participation in the Program does not constitute a recommendation, offer, or solicitation to purchase or sell securities, open a brokerage account, or engage in any investment strategy. Wahed does not provide investment advice and does not hereby recommend any security or transaction.
F. You agree to consult with your tax advisor about the appropriate tax treatment for this Program.
G. This program is only available to U.S. residents residing within the United States and who are otherwise qualified to open a Wahed Account. Employees of any securities or regulatory organization or exchange are not eligible for this offer. Other restrictions may apply as determined from time to time by Wahed in its sole discretion and without notice.
5. Brochure
You acknowledge and agree that Wahed has provided you a link to the most recently filed version of its Form ADV Part 2A, the Firm’s Wrap Fee Brochure.
6. Dispute Resolution, including Pre-Dispute Arbitration Clause
All controversies that may arise between you and Wahed concerning any subject matter, issue, or circumstance whatsoever (including controversies concerning any account, order, or transaction, or the continuation, performance, interpretation, or breach of this, the other Agreements, or any other agreement between you and Wahed, whether entered into or arising before, on, or after the date this account is opened) shall be determined by binding arbitration through the American Arbitration Association (“AAA”). You acknowledge that judgment upon any arbitration award may be entered in any court of competent jurisdiction.
