Contract signature

This is a discussion on Contract signature within the Business Contracts & Partnerships forum, part of the BUSINESS & FINANCE LAW category; Hello, I am not a US citizen nor a US resident. I want to open an account with a US ...

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Old Mar 6th, 2009, 04:26 PM   #1
Vitaly
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Default Contract signature

Hello,

I am not a US citizen nor a US resident. I want to open an account with a US company. The company works the following way: on its website it places its contract forms, then a future client downloads a corresponding contract form and signs it physically. But the company does not sign anything physically. A company employee said me that although the company does not sign anything, the contract signed only by me is legally bindind under US Law, and if the company does not follow the contract terms and conditions I have the right to sue the company in court. But within the text of the contract I read that it contains a predispute arbitration clause under which all parties to the contract give up their right to sue each other in court. The text also states that the company reserves the right to amend the contract without prior notice by posting a new version of the contract on its website, and I must agree to be bound in the future by all the amendments published on its website regardless of whether I have actually reviewed them. The account that I want to open with the company is for trading shares.

So, my question is: Where is there a legal guarantee that in the future I will be able to get my money from the account back? Is it actually a legally binding contract to the company? Is it legally safe for me to sign that type of contract?
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Old Mar 7th, 2009, 10:15 AM   #2
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Default Re: Contract signature

[which all parties to the contract give up their right to sue each other in court. ]


Then you normally cannot go to court except for fraud and a few other issues.

What kind of company is this...the situation sounds a bit odd.
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Old Mar 7th, 2009, 10:42 AM   #3
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Can I post the name of the company here?
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Old Mar 7th, 2009, 11:34 AM   #4
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Yes you can.
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Old Mar 7th, 2009, 12:06 PM   #5
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Default Re: Contract signature

tdameritrade.com
zecco.com
schwab-global.com

All of them work the same way. They offer a premade contract without their own signature. But their clients must sign. If a client comes personally to their offices, they will not sign anyway. So, the client will have a contract signed only by him, not by the company. They do not use any type of signature.
So, say, I myself can type a "contract", print it and put my signature, and it will be the same. And those companies reserve the right to 100% change the contract terms and conditions without informing their clients, and those terms and conditions automatically come into force regarding all the previous contracts as well. The type of contract is to open an online-trading account with them, to trade shares.
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