The Promoter is 10X Investments (Pty) Ltd (“the Promoter”)
Who can participate?
This promotion is open to all South African residents who are in possession of a valid identity document and foreign nationals who can present their passport.
Any participant under the age of 18 years must be fully assisted by his/her legal guardian, who approves of, and consents to, the participant’s possession/receipt of the promotional offering.
Employees at 10X Investments, partner agencies/affiliated companies and members of their immediate family are allowed to participate in this promotion.
Which products qualify
The following are “promotional products” for the purposes of this promotion:
10X Retirement Annuity
10X Living Annuity – no 10X investment management fee will be charged for the duration of the promotional period. However, a 0.075% fee (per annum) will be charged by the life insurer.
10X Pension Preservation Fund
10X Provident Preservation Fund
The promotion is only open to individual retail product applications. The 10X Umbrella Funds and Group Retirement Annuity applications do not apply.
This promotion does not apply to clients’ existing products with 10X investments.
This promotion is open from 1 June 2020 and ends at 23.59 on 30 June 2020. Any applications received after 30 June 2020 will not be considered for the promotion.
How does the promotion work?
- Participants must submit a completed application for a 10X promotional product during the promotion period.
- Participants must submit their application via the online application portal: https://www.10x.co.za/invest-portal No manual applications will be accepted for purposes of this promotion.
- All new applicants who apply for a 10X Investments promotional product during the promotion period will pay no 10X investment management fees from the date on which their first investment is received by 10X Investments, until 31 December 2020.
- All new applicants (regardless of when their first transaction is received) will start paying fees on 1 January 2020, as per usual fee structures for 10X Investments products. Note that 10X cannot control how long a transfer from another fund provider will take and this might reduce the number of fee-free months that the participant will qualify for as the last fee-free month is December 2020.
- If an existing client applies for a new 10X product during June 2020, the new product must be different to the client’s existing product, in order to qualify for this promotion. For example: a client with an existing retirement annuity cannot take out an additional retirement annuity product. This client can, however, take out a 10X preservation fund product or a living annuity product and benefit from the promotion.
- The specifications of the promotion, including but not limited to duration and value, are at the discretion of the Promoter and are not negotiable.
- The Promoter reserve the right to alter or cancel the promotion at their own discretion. In the event of such cancellation or alteration, all participants shall waive and abandon any rights they may have against the Promoter, its affiliates or associated companies.
- Participation in the promotion constitutes acceptance of the promotion’s Terms and Conditions.
- No applications from agents, third parties, organised groups or applications automatically generated by computer will be accepted. No incomplete or corrupted application forms will be accepted. Applications will only be accepted is it is accompanied by all supporting documentation required.
- The Promoter reserves the right to disqualify any application if fraud or cheating is suspected, including but without limitation, through the manipulation of withdrawing from and existing 10X product to re-apply for the same product to benefit from the fee-free promotion. If it is found that a 10X client withdraws from a 10X product in order to gain from the fee-free promotion, 10X reserves the right to withhold the client’s 10X fund withdrawal until the investigation is complete.
- The Promoter is not responsible for applications lost, damaged or delayed as a result of any network, computer hardware or software failure of any kind. Proof of sending will not be accepted as proof of receipt.
- In the event of any dispute, the decision of the Promoter is final. No correspondence will be entered into.
- Neither the Promoter, its agents, its associated companies, nor any directors, officers or employees of such, shall be liable for any loss or damage, whether direct, indirect, consequential or otherwise arising from any cause whatsoever, which may be suffered by a participant, as a result of participating in this promotion.
- 10X Investments (Pty) Ltd is an authorised financial services provider in terms of the Financial Advisory and Intermediary Services Act No. 37 of 2002 (“FAIS Act”) with FSP number 28250.