General Terms and Conditions
"Introduce them" refers to a program between UBS Switzerland AG (hereinafter "UBS") and its clients (hereinafter the "Participating Client") who wish to introduce potential new UBS clients. In exchange, UBS offers the referring Participating Client certain rewards. "Introduce them" is subject to the following conditions:
Participation in "Introduce them" is only open to existing UBS clients domiciled in Argentina, Bahrain, Brazil, Bulgaria, Chile, Colombia, Croatia, Czech Republic, Egypt, Greece, Hungary, Kazakhstan, Kenya, Lebanon, Mexico, Nigeria, Panama, Peru, Poland, Romania, Russia, Saudi Arabia, Serbia, Slovakia, Slovenia, South Africa, Tanzania, Turkey, United Arab Emirates, and booked in Switzerland. When clients register as Participating Clients, UBS can refuse their registration without giving a reason. UBS is entitled, at any time and without notice, to alter the conditions of participation, the calculation system, the products and services available, the choice of partner companies and services, and to discontinue the "Introduce them" program. UBS employees are not allowed to participate in the program.
Eligible Participating Clients in "Introduce them" will receive a reward corresponding to the reward program of "Introduce them" from the date on which the introduced person establishes a successful new relationship with UBS. A successful new relationship under the "Introduce them" program means:
- The new contact is not an existing UBS client
- The new account is funded with a minimum of CHF 500,000
- The minimum funding of the new account must happen within the period of one year of the moment of introduction
- Such funds must be new funds coming from outside UBS
- The new contact is not a public official
The term "public official" includes any official, agent, employee, or representative of: a national, supranational, regional, or local government; an agency, department, or operation of a government; an entity owned or controlled by one of the foregoing; a judicial body; a public international organization; a political party; or any body that exercises regulatory authority over UBS. Also included are candidates for public office or for political party positions, as well as members of royal or ruling families. The definition further includes immediate family members and close associates of all parties mentioned above. Participating Clients shall promptly notify UBS if circumstances during the term of this program render the preceding representation and warranty inaccurate with respect to any of the persons introduced by the client. Upon such notification, UBS may impose restrictions on the participation of such persons as deemed necessary.
If a new contact is introduced twice or more, the relevant reward will be given to the Participating Client who has introduced the person to UBS first, as determined by UBS in its sole and absolute discretion.
UBS is not required to inform any Participating Client in "Introduce them" whether or not their introduced person has successfully started a new relationship. The Participating Client must not be given direct access to any client information or other confidential bank information. Information about the introduced person and whether they have become a UBS client or not can be refused by UBS at any time.
However, due to the nature of the program, it may be feasible for the introduced person or the Participating Client to deduce the existence of a banking relationship with UBS. As a consequence, by confirming their participation in the program, Participating Clients confirm that UBS can disclose to the introduced person the existence of a banking relationship between the Participating Client and UBS for the purposes of the "Introduce them" program. Therefore, the Participating Client agrees that this disclosure will not violate any secrecy laws of Switzerland. Furthermore, the participating client may also deduce that a banking relationship has been initiated between the introduced person and UBS, when the above mentioned participating client receives their reward.
Participating Clients are not permitted to offer assurances, sign documents, enter into contractual agreements, make promises of any kind, or provide financial advice on behalf of UBS. Participating Clients are further not entitled to use UBS's offices, secretarial services, materials bearing the UBS logo, or take any other action that may give the outward impression that the Participating Client is an employee or representative of UBS.
Participating Clients must act in compliance with all applicable laws, rules, regulations and requirements of all governmental authorities in connection with the conduct of their activities under the "Introduce them" program. If UBS becomes aware that a Participating Client is not complying with such applicable laws, regulations and requirements, UBS shall be entitled to terminate the program for that Participating Client and suspend or cancel any reward.
The terms and conditions of "Introduce them" and UBS's decisions with respect to this program are final and binding for all participants.
Prevention of bribery and corruption
UBS does not tolerate any form of bribery or corruption in any of its business dealings, either with respect to public officials (as defined above) or any other persons. Participating Clients who take part in "Introduce them" must be aware of and understand that they must act in compliance with all applicable laws and regulations, and must not violate these laws. Participating Clients shall not engage in any form of bribery or corruption and they shall not receive, offer, promise, or give any undue financial or other advantage whether directly or indirectly in order to introduce new persons to UBS.
Furthermore, neither Participating Clients nor any person acting on their behalf shall, within their activities under the "Introduce them" program, transfer anything of value to a public official.
If a Participating Client's activities under "Introduce them" are determined by UBS to be contrary to any relevant laws regarding bribery and corruption the program will be automatically terminated for that Participating Client and any reward will be cancelled.
Rewards can be used to obtain services and products from external pre-selected partners of UBS. Special rules and restrictions may apply. Offers may be changed at any time and some offers are subject to limited availability. When obtaining rewards, participants enter into a contract with the respective providers alone. For some of the proposed rewards (e.g. Dinner reward), UBS will work with third-party providers (e.g. Quintessentially). For these rewards, the Participating Clients agree that the data required for the organization of the reward is shared with third-party providers.
The amounts of the rewards include shipping, handling fees and applicable taxes. Remaining amounts will not be paid by UBS. Should the value of the selected item exceed the value of the voucher provided by UBS, the difference must be paid by the Participating Client. A UBS representative will contact the Participating Client and inform him or her about the reward selection and process once he or she is eligible. Only then (and not before), is the Participating Client entitled to select a reward within the period of one year. The rewards earned by each referral cannot be accumulated by the Participating Client; each reward will need to be used individually.
Participating Clients may at any time inform UBS in writing that they no longer wish to participate in "Introduce them". UBS can likewise exclude a Participating Client from "Introduce them" and from receiving any more rewards, without giving any reason. UBS may also, in the event of (suspected) abuse, decline to issue rewards to a Participating Client or reduce the value of the reward. In the event of "Introduce them" being discontinued, UBS will determine the procedure regarding the rewards already collected but not yet used. Participating Clients acknowledge and agree that the details provided when registering for "Introduce them" may be used for marketing purposes within the UBS Group. The General Terms and Conditions of UBS also apply.
Once an introduced person successfully opens a new banking relationship with UBS under the "Introduce them" program, the Participating Client will be informed and will be invited to select a reward based on that successful new introduction and his or her current "Introduce them" reward level.
An introduced person has the right to inform UBS if they do not wish to be contacted. This may be done in writing by responding directly to the Introduce them email.
Applicable law and jurisdiction
The "Introduce them" program shall be governed by and construed exclusively in accordance with Swiss law. The place of performance of all obligations and the exclusive place of jurisdiction for any disputes arising out of and in connection with this program shall be Zurich.