Cedrus Tutelage Trust Signup

Tutelage Trust Form - Cedrus

SETTLOR'S PHOTOGRAPH(Required)

Max. file size: 2 MB.

SETTLOR'S PERSONAL DETAILS

Title(Required)

Other(Required)

Surname:(Required)

First name:(Required)

Other Name:

Marital Status(Required)

Other(Required)

Gender:(Required)

Mother's Maiden Name(if applicable):

Date of Birth:(Required)

Means of Identification(Required)

ID Number:(Required)

Means of ID Image Upload(Required)

Max. file size: 2 MB.

Please upload a clear image of your means of identification

Nationality:(Required)

Place of Birth:(Required)

State of Origin:(Required)

LGA of Origin:(Required)

Mobile No.(Required)

Telephone

Email:(Required)

Alt. Email:

ADDRESS

Residential Address:(Required)

City:(Required)

Postal Code:(Required)

State:(Required)

Country:(Required)

SPOUSE/CO-PARENT'S DETAILS

Title(Required)

Other(Required)

Surname:(Required)

First name:(Required)

Other name:

Marital Status(Required)

Other(Required)

Gender:(Required)

Mother's Maiden Name:

Date of Birth:(Required)

Means of Identification

ID Number(Required)

Means of ID Image Upload(Required)

Max. file size: 2 MB.

Please upload a clear image of your means of identification

Upload Utility Bill Image

Max. file size: 2 MB.

Utility bill e.g Electricity Bill, Sewage Bill etc.

Nationality:(Required)

Place of Birth:(Required)

State of Origin:(Required)

LGA of Origin:(Required)

Mobile No.(Required)

Telephone

Email:(Required)

Alt. Email:

Residential Address:(Required)

City:(Required)

Postal Code:(Required)

State:(Required)

Country:(Required)

Relationship to Settlor:(Required)

SOURCE OF FUND

Source of Income(Required)

Other:

Employer's Name/ Business Name:(Required)

How often will you fund the Trust

Weekly

Monthly

Quarterly

Yearly

Other

Please specify your preferred duration for funding the Trust

Amount in figures:

Amount in words:

BANK ACCOUNT DETAILS

Account Name(Required)

Bank Name(Required)

Account No.(Required)

BVN(Required)

BENEFICIARY

Enter your beneficiary(ies) below. Use the plus sign to add more beneficiaries

Name of Beneficiary

Address of Beneficiary

Phone Number

Email Address

Relationship to Settlor

Gender

Benefit(100%)

Note: Settlor can name themselves as beneficiaries to their own Trust.

SETTLOR'S OTHER DETAILS

Any Litigation pertaining to the custody, guardianship, or adoption of the beneficiary?(Required)

Yes

If yes, kindly provide details:(Required)

Is the beneficiary entitled to any scholarship or bursary fund ?(Required)

Yes

If yes, kindly provide details:(Required)

Please state the name, duration, sponsor of the scholarship or bursary

Current level of education of each student. Use the plus sign to add more students

Name of Student

Age

Grade/Course Level

Name of Educational Institution

GUARDIAN DETAILS

Title(Required)

Other

Surname:(Required)

First name:(Required)

Other name:

Marital Status(Required)

Other

Gender:(Required)

Mother's Maiden name:

Date of Birth:(Required)

Means of Identification(Required)

ID Number(Required)

Means of ID Image Upload(Required)

Max. file size: 2 MB.

Please upload a clear image of your means of identification

Upload Utility Bill Image

Max. file size: 2 MB.

Utility bill e.g Electricity Bill, Sewage Bill etc.

Nationality:(Required)

Place of Birth:(Required)

State of Origin:(Required)

LGA of Origin:(Required)

Mobile:(Required)

Telephone:

Email:(Required)

Alt. Email:

Residential Address:(Required)

City:(Required)

State:(Required)

Country:(Required)

Relationship to Settlor:(Required)

Use this space to provide any additional information or instruction.

Signature(Required)

ADDITIONAL INFORMATION

Are you currently a politically exposed person (PEP)?(Required)

Yes

Name(Required)

Position Held(Required)

From(Required)

To(Required)

Have you ever held a political position?(Required)

Yes

Name(Required)

Position Held(Required)

From(Required)

To(Required)

CLIENT'S DECLARATION

I hereby undertake and declare that all the statements made above and overleaf are true and correct and that I have not withheld any material information. I also agree to give notice to CEDRUS TRUSTEES LIMITED in the event of any change in the information given. I further agree that this declaration shall be the basis under which CEDRUS TRUSTEES LIMITED shall provide me with the service(s) offered by completing this form in accordance with the provisions of the Trust Deed. In conclusion, agree that shall cease to enjoy the benefits of the service(s) referred to above in the event of any breach on my part of the contractual terms stipulated in the Trust Deed.

Authorized Signature(Required)

Date(Required)

Authorized Signature

Date

DECLARATION OF TRUST

THE DECLARATION OF TRUST is made on this day:

Date(Required)

Declaration of Trust(Required)

I agree to the Terms in the Deed of Trust

THE DEED OF TRUST TERMS

Settlor's Name(Required)

Settlor's Address(Required)

Upon agreeing to the deed of Trust,THE DELARATION OF TRUST is made on the day stated above

BETWEEN THE SETTLOR

[hereinafter referred to as the "Settlor" which expression shall include his agents and assigns] of the first part;

AND

CEDRUS TRUSTEES LIMITED, a limited liability company, licensed and carrying on business as Trustees with registered address at 13 B Bishop Oluwole Street, Off Ahmadu Bello Street, Victoria Island, Lagos State, Nigeria [hereinafter referred to as the "Trustee" or "CTL"] of the other part.

WHEREAS:

1.The Settlor is the(relationship of the settlor to the beneficiary entered above) of the beneficiaries

2. The settlor and his/her spouse are desirous of setting up a Tutelage Trust for the Education of the beneficiaries.

3. CTL is a renowned trust services provider licensed by the Securities and Exchange Commission (SEC).

4. The Settlor has consulted CTL to act as Trustees and CTL has agreed to act as Trustees subject to the terms contained in this Trust Deed.

THIS DEED OF TRUST WITNESSES AS FOLLOWS

1. INTERPRETATIONS AND DEFINITIONS

1.1.In this Deed, where consistent with the context:

1.1.1. Words importing the masculine gender include the feminine and vice versa.

1.1.2. Headings herein are inserted for convenience only and shall not affect the construction or interpretation of the specific clause.

1.1.3. The words "include" and "including" shall be construed without limitation.

1.2. Where reference is made in this Deed to any regulation or legislation, such reference shall be deemed to include reference to any law or regulation amending, or repealing the regulation or legislation referred to in this Deed.

1.3. The words "written" or "in writing" shall include electronic, printing, engraving, lithographing or other means of visible reproduction.

1.4. In this Trust Deed, the following words shall have the meanings given hereunder: "Beneficiary" means the beneficiary(ies) listed in the Tutelage Trust form attached herewith irrespective of any change of name by either of them.

"Trust Fund" means the aggregate sum of transferred to the Trustee upon the Trust hereby created for the purpose herein stated and all subsequent additional income paid by anyone to the Trustee for the purpose of this Trust and includes all investment income to be compounded into the Trust Fund herein created.

"Education" means formal and vocational education, including extracurricular activities.

"SEC" means Securities and Exchange Commission in Nigeria, or any successor body charged with similar powers.

2. ESTABLISHMENT OF TRUST & APPOINTMENT OF TRUSTEE

2.1. The Settlor hereby establishes the Trust Fund Account and hereby appoints Cedrus Trustees Limited as the sole Trustee to hold and manage the trust fund for the benefit of the beneficiaries named in the Tutelage Trust form.

2.2. The Settlor hereby declares the beneficiaries of the Trust to be the persons listed in the Tutelage Trust form.

2.3. The Settlor directs that in the unlikely event of his/her demise, any fund standing in credit of the Trust Fund should be paid over to the named beneficiaries in the Tutelage Trust form

3. DECLARATION OF TRUST

3.1. The Settlor declares that the Trustee shall hold the Trust Fund as sole Trustee in the manner stated in this Deed.

3.2 This Trust shall be henceforth known and referred as the (settlor name) TRUST.

4. OBJECTIVE OF TRUST

4.1. The parties hereby agree that the Trust shall be solely for education of the named beneficiaries.

5. OPERATION OF TRUST

5.1. The Trustee shall hold the Trust Fund and any accrued income thereon and invest same in any investment facility for the time being authorized by law for the investment of the Trust Fund with powers to vary such investment for others of similar nature at its discretion and to apply the income and interest from it in furtherance of the objects of the Trust as contained in this Deed.

5.2. The Trustee shall not disburse any fund for the education of the beneficiaries except upon the Settlor's written approval.

5.3. In cases of the Settlor's demise, unavailability due to health and/or emergencies, the Trustee may disburse funds for any of the beneficiaries without the written approval of the Settlor.

5.4. All expenses for education needs of the beneficiaries should be invoiced and paid directly to the institution providing the services i,e. School/educational institution except the Settlor direct otherwise.

5.5. Upon the completion of education, the Settlor shall be notified of the balance of the trust fund and the Settlor shall give instructions on the outstanding sum. In the event the Settlor is deceased at the time the beneficiaries complete their education, the balance in the trust fund shall be distributed to the beneficiaries.<./p>

5.6. The parties agree that the operation of this Trust is subject to regulations and other regulatory laws

6. COMMENCEMENT AND LIFESPAN OF TRUST

6.1. The effective date for the commencement of the Trust herein constituted shall be the date the set-up fund is credited to the Trustee's account.

6.2. The Trust shall be in operation till the funds kept in Trust is exhausted or till all the beneficiaries complete their education and the balance of the funds is distributed.

7. GUARDIAN OF BENEFICIARIES OF TRUST FUND

7.1. The Settlor hereby declares that the beneficiaries are under the guardianship of the guardian named in the tutelage form, who would act as the representative of the beneficiary to the Trustee.

8. DUTIES AND POWERS OF TRUSTEE

8.1. The Trustee shall ensure the safety of the Trust Fund during the Trust period in the pursuit of his duties to invest the Trust Fund. The Trustee shall exercise due diligence and ensure that the Fund is not lost or unreasonably diminished.

8.2. The Trustee shall maintain strict confidentiality with regards to this Trust and shall not disclose the existence or nature of this Trust to any third party without the written consent of the Settlors unless required by a valid court order. The Trustee shall however grant access to this Trust to the Beneficiary.

8.3. The Trustee shall invest the Trust Fund properly to obtain competitive returns.

8.4. The Trustee shall issue on quarterly basis a statement detailing the account position of the Trust Fund directly to the Guardian.

8.5. The Trustee shall add to the Trust Fund all future sums to be transferred by anyone to the Trustee for the purpose of this Trust and also capitalize all income accruing to the Fund as provided herein, such that all such additions and income shall form part of the Trust Fund to be utilized for the purposes herein indicated.

8.6. On the fulfilment of the objects of the Trust the Trustee shall seek the Settlor's consent to pay the Beneficiaries the residue of the Trust Fund.

8.7. Upon the demise of the Settlor, the Trustee shall attend only to instructions from the Guardian.

8.8. The Trustee may invest the Trust Fund in any of the following investments

8.8.1.1. All bonds, treasury bills and other securities created or issued by or on behalf of the Federal Government of Nigeria, State Governments in Nigeria or State Government agencies or wholly owned companies of a State Government, provided that such securities have sinking funds dedicated for their repayment and are fully guaranteed by irrevocable standing payment orders against such State's statutory allocation from the federation account established under the Constitution of the Federal Republic of Nigeria. Nigeria established by an Act of the National Assembly or companies that are wholly owned by the Federal Government of Nigeria or wholly owned by a statutory corporation established under an Act of the National Assembly;

8.8.1.2. Securities created or issued by statutory corporations in

8.8.1.3. money market instruments of banks and discount houses as well as commercial papers issued by corporate entities;

8.8.2. Open/close-ended/hybrid investment funds, including exchange traded funds. 8.8.3. Global Depositary Receipts and Eurobonds issued by listed Nigerian companies, as certified and approved by SEC;

8.8.4. investment funds whose underlying assets are tangible physical assets including real estate investment trusts registered by SEC or private equity funds registered with SEC or infrastructure funds registered with SEC, provided that such funds have satisfactory pre-defined liquidity/exit routes.

8.8.5. Such other investment fund or platforms as the Trustee may deem fit to be suitable to achieve the objectives of this Trust.

9. RETURNS ON TRUST FUND AND TRUSTEE'S RENUMERATION

9.1. The parties agree that the trust fund shall attract interest at the rate of 10% per annum. The excess of the agreed rate shall be the Trustee's renumeration for its services.

9.2. The parties agree that the rate of returns varies by market forces; hence the Trustee may periodically notify the Settlor of a variation of the interest rate agreed herein.

10. LIQUIDATION AND TERMINATION OF TRUST

10.1. The Settlor reserve the right to terminate the Trust upon giving of at least 7 (seven) working days' notice in writing to the Trustee of his/her intention to do so PROVIDED that such notice shall not invalidate any investments already undertaken by the Trustee in good faith prior to receipt of notice. The Trustee shall however thereafter arrange for the prudent and expeditious discontinuation of such investments.

10.2.The Trustee reserve the right to terminate the Trust upon giving at least 7 (Seven) working days' notice in writing to the Settlor of its intention to do so. Upon issuance of such notice, the Trustee shall prepare accounts and thereafter arrange for the prudent and expeditious discontinuation of investments.

11. DISPUTE RESOLUTION

11.1. If any dispute arises as to the validity, interpretation, rights, operation and or obligations of the Parties under this Deed, the Parties shall use their best endeavours to reach an amicable settlement of the dispute.

11.2. Where the Parties fail to reach an amicable settlement of such dispute within a period of seven (7) days, the dispute shall be resolved by Mediation. The mediators shall be appointed by the Lagos State Multidoor Courthouse and both parties shall bear their cost of mediation.

12. GOVERNING LAW AND JURISDICTION

12.1. This Deed and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and shall be construed in accordance with Nigerian Law.

13. NOTICES

13.1. All notices, requests, consents, and other communications hereunder shall be in writing, shall be emailed or dispatched of hard copy through a reputable postal service. It shall be sufficient notice of communication if mails or correspondence are sent to the following email address:

Settlor email(entered already in the form)

and

Trustee: trustees@cedrusgroup.africa

14.SEVERABILITY & DELAY

14.1. In case any provision contained in this Trust deed is declared invalid, illegal, or unenforceable in any respect, the validity, legality, and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.

14.2.No delay or omission by either party hereto to exercise any right or power accruing under this deed or with respect to any of the terms shall impair any such right or power to exercise such right or power subsequently. Such delay shall not be construed to be a waiver.

15.LEGALITY AND INDEMNITY

15.1The Settlor confirms/agrees that no proceed of crime shall be deposited in the Trust Fund and all funds deposited in the trust were obtained through lawful means.

15.2.The Settlor undertakes to indemnify the Trustee of any damage/loss/expense due to the negligent action, omission, or misrepresentation of the Settlor in relation to the setting up and management of this Trust.

16. EMAIL INDEMNITY

16.1. The Settlor hereby authorize CTL to accept and act upon my/our all communication including but not limited to electronic mail and other electronic devices instructions in respect of any instruction which CTL would normally accept if the Instruction were presented in an original written format in accordance with the terms of the account opening mandate.

16.2. By signing this indemnity, I/we acknowledge and agree as follows:

16.2.1. All email instructions emanating from my/our designated email shall be treated as having been given by me/us in the form received by the Company.

16.2.2.CTL shall not be liable for any loss (consequential or otherwise) incurred by the Settlor because of CTL acting or declining to act (wholly or in part) on instructions which CTL believes to have been given in conformity with the above, whether or not such instructions have been so given. The fact that any instruction may later be shown to be in any way false, incomplete, inaccurate, delayed, erroneous, unauthorized, or otherwise not authentic, should not be an impediment to the rights of CTL hereunder.

16.2.3. CTL cannot verify the authenticity of all email messages that claim to originate from me/us.

16.2.4. CTL may, notwithstanding this indemnity, require that any instruction given in accordance with the signature mandate of the Trust, and CTL may at its sole discretion request a written or any other form of confirmation of any instruction received from the Applicant(s).

16.2.5. That I/we consent to fully indemnify and hold the CTL and hold harmless against any losses whatsoever against any losses, actions, proceedings, claims, demands, damages, costs and expenses that may be suffered or incurred as a result of CTL acting on instructions from the designated email or emails originating from me/us irrespective of whether such communication is fraudulent or erroneous provided that CTL has exercised all reasonable and professional care in dealing with such electronic mail.

16.2.6. That all electronic communication originating from me/us to CTL shall be legally binding on me/us for all intent and purposes.

16.2.7. This email indemnity shall remain in force until all actual or potential liability against CTL shall be extinguished in its entirety. The indemnity is also subject to changes by CTL from time to time.

17. INSTRUCTION FORM

17.1. The content of the instruction form preceding this deed is incorporated into this deed to the extent of its consistency.

THE DEED OFTRUST TERMS

THE DEED OF TRUST WITNESS AS FOLLOWS:

IN WITNESS WHEREOF, the Settlor herein has hereunto affixed his/her hand and seal and the Trustee has hereunto affixed its seal the day and year first above written..

Signed, sealed, and delivered by the within named Settlor.

Name:

Signature:

In presence of:

Residential Address:(Required)

Signature:

Cedrus Tutelage Trust Signup

Tutelage Trust Form - Cedrus

SETTLOR'S PERSONAL DETAILS

ADDRESS

SPOUSE/CO-PARENT'S DETAILS

SOURCE OF FUND

BANK ACCOUNT DETAILS

BENEFICIARY

SETTLOR'S OTHER DETAILS

GUARDIAN DETAILS

ADDITIONAL INFORMATION

CLIENT'S DECLARATION

DECLARATION OF TRUST

THE DEED OF TRUST TERMS

THIS DEED OF TRUST WITNESSES AS FOLLOWS

1. INTERPRETATIONS AND DEFINITIONS

2. ESTABLISHMENT OF TRUST & APPOINTMENT OF TRUSTEE

3. DECLARATION OF TRUST

4. OBJECTIVE OF TRUST

5. OPERATION OF TRUST

6. COMMENCEMENT AND LIFESPAN OF TRUST

7. GUARDIAN OF BENEFICIARIES OF TRUST FUND

8. DUTIES AND POWERS OF TRUSTEE

9. RETURNS ON TRUST FUND AND TRUSTEE'S RENUMERATION

10. LIQUIDATION AND TERMINATION OF TRUST

11. DISPUTE RESOLUTION

12. GOVERNING LAW AND JURISDICTION

13. NOTICES

14.SEVERABILITY & DELAY

15.LEGALITY AND INDEMNITY

16. EMAIL INDEMNITY

17. INSTRUCTION FORM

THE DEED OFTRUST TERMS

THE DEED OF TRUST WITNESS AS FOLLOWS:

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