Effective Date: 26 June 2024
1. Scope and Acceptance
These Terms and Conditions (“Terms”) govern all access to and engagement with the private banking and financial services provided by First Elite Trust Bank (“the Bank,” “we,” “us,” or “our”). By accepting a formal invitation, initiating a client relationship, using our services, or interacting with our personnel, you (“the Client”) acknowledge and agree to be bound by the terms set forth herein. If you do not accept these Terms in their entirety, you may not access or engage with the Bank or any of its services.
2. Nature of Services
First Elite Trust Bank operates a private, closed-client banking platform designed exclusively for qualified High-Net-Worth Individuals (HNWI), Ultra-High-Net-Worth Individuals (UHNWI), family offices, sovereign entities, and select private institutions.
Our suite of services includes, but is not limited to:
Wealth Management & Investment Advisory
Bespoke Lending & Liquidity Structuring
Private Trust & Estate Planning
Family Office Coordination
Cross-Border Asset Structuring
Private Capital Markets Access
Risk Management & Strategic Hedging
All services are discretionary, non-public, and subject to extensive due diligence.
3. Eligibility and Access
3.1 Invite-Only Access
Access to the Bank’s services is strictly by invitation. The Bank does not accept unsolicited applications, open market inquiries, or walk-in consultations.
3.2 Client Qualification
To qualify, the Client must meet the following criteria:
Be a verified HNWI or UHNWI, as defined by U.S. SEC Regulation D or equivalent international standard.
Provide sufficient legal, financial, and tax documentation.
Pass all internal risk, reputational, and compliance assessments.
Be approved by the Executive Client Committee of the Bank.
The Bank reserves full discretion to reject or terminate any engagement without cause or obligation to disclose reasons.
4. Client Onboarding & Documentation
Prior to the establishment of any formal relationship or transaction, the Client must execute and return all required legal documents, including but not limited to:
Client Agreement
Wealth Structuring Mandates
Non-Disclosure Agreements
AML/KYC Declarations
Beneficial Ownership Certifications
Cross-Border Tax Declarations (FATCA/CRS)
Incomplete or inaccurate documentation will result in immediate suspension or rejection of onboarding.
5. Confidentiality & Data Protection
5.1 Confidential Relationship
The Bank treats all client information with absolute discretion and adheres to the highest standards of confidentiality, as required under federal and international banking secrecy laws.
5.2 Data Processing
Client data may be stored and processed within the United States and abroad, solely for the purpose of delivering services, complying with legal obligations, and managing risk exposure.
5.3 Disclosure
Client data will not be disclosed to third parties without explicit written consent, unless legally mandated by applicable regulatory, tax, or law enforcement authorities.
6. Legal and Regulatory Compliance
The Bank is fully compliant with:
The U.S. Bank Secrecy Act (BSA)
The USA PATRIOT Act
The Foreign Account Tax Compliance Act (FATCA)
The OECD Common Reporting Standard (CRS)
All relevant anti-money laundering (AML), counter-terrorism financing (CTF), and sanctions regulations
Clients are required to adhere to the same standards and cooperate fully with compliance requests, periodic reviews, and transactional transparency.
Failure to comply may result in the immediate termination of the relationship and reporting to regulatory authorities.
7. Financial Risk and Disclosures
All investment and banking activities carry inherent risk. The Bank provides non-public, tailored financial services but does not guarantee investment returns, preservation of capital, or protection from market volatility. Clients assume full responsibility for decisions made, even when based on Bank guidance or third-party counsel coordinated through the Bank.
Past performance is not indicative of future results.
8. Client Obligations and Representations
The Client represents and warrants that:
They are legally authorized to enter into financial agreements under applicable laws.
All funds, assets, and property under their control are lawfully obtained and free from encumbrance or litigation.
They will not use the Bank’s services for any unlawful, fraudulent, or prohibited purposes.
They will update the Bank promptly of any material changes to their financial, legal, or personal status.
9. Fees, Costs, and Remuneration
Fee structures are bespoke and will be disclosed in writing prior to the commencement of any engagement. These may include:
Advisory Retainers
Performance Fees
Asset Under Management (AUM) Charges
Transactional Fees
Custodial and Trust Management Costs
All fees are due as agreed in formal mandates. Late payments or defaults will incur penalties and may result in suspension of services.
10. Intellectual Property
All branding, documents, financial models, communication tools, and proprietary content provided by First Elite Trust Bank remain the exclusive intellectual property of the Bank. Reproduction, distribution, or adaptation without written permission is strictly prohibited.
11. Limitation of Liability
o the maximum extent permitted by applicable law, the Bank and its affiliates, officers, employees, and contractors shall not be liable for any indirect, incidental, punitive, or consequential damages, including but not limited to loss of profits, business interruption, or reputational damage, even if the Bank was advised of such potential damages.
Total liability shall not exceed the amount paid by the Client in the preceding 12-month period for services rendered.
12. Indemnification
The Client agrees to indemnify and hold harmless the Bank, its officers, and representatives against any claim, liability, cost, or damage resulting from:
Breach of these Terms
Violation of applicable law
Misrepresentation of information
Improper use of Bank services
13. Relationship Termination
The Bank reserves the right to terminate a client relationship at any time and for any reason, including breach of Terms, reputational risk, failure to cooperate with compliance, or strategic realignment. Termination shall not relieve the Client of any financial obligations incurred prior to such action.
14. Governing Law and Dispute Resolution
These Terms are governed by and shall be construed in accordance with the laws of the State of New York, United States.
Any disputes or claims arising from these Terms shall be resolved exclusively by arbitration in New York City under the rules of the American Arbitration Association (AAA), unless otherwise agreed in writing.
15. Modifications and Updates
First Elite Trust Bank reserves the right to amend these Terms at any time. Clients will be notified via official communication. Continued engagement following notice of modification constitutes acceptance of the updated Terms.
16. Contact Information
Bank Name: First Elite Trust Bank
Office Address: 37th Floor, General Motors Building, Fifth Avenue, NYC, NY 10022
Email: [email protected]