PERSONAL WEALTH TRUST

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)

If Other Enter Your Status(Required)

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 No.:(Required)

Telephone:

Email:(Required)

Alt. Email:

ADDRESS:

Residential Address:(Required)

City:(Required)

Postal Code:(Required)

State:(Required)

Country:(Required)

DETAILS OF NEXT OF KIN:

Title(Required)

Other(Required)

Surname:(Required)

First name:(Required)

Other name:

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

Amount in figures

Amount in words:(Required)

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 beneficiaries to their own Trust

ADDITIONAL INFORMATION:

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

Yes

Name(Required)

Position Held(Required)

Date(Required)

Have you ever held a political position?(Required)

Yes

Name(Required)

Position Held(Required)

Date(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)

DECLARATION OF TRUST:

THE DECLARATION OF TRUST is made on this day:

Date(Required)

Untitled

I agree to the terms of this deed

THE DEED OF TRUST TERMS

Name of Settlor(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 maintains a Personal Wealth Trust and is desirous of setting up a Trust to manage the funds in the manner contained in this Deed.

2. The Settlor has consulted Cedrus Trustees Limited (CTL) to act as Trustees for the Fund to be set up 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 Personal Wealth 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. "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 and hereby appoints Cedrus Trustees Limited as the sole trustee to hold the Trust Fund and manage the Personal Wealth Trust for the benefit of the Settlor.

2.2. The Settlor hereby declares himself/herself as the sole beneficiary of the Personal Wealth Trust.

2.3. The Settlor directs that in the unlikely event of his/her demise any fund standing in credit of the Trust should be paid over to the beneficiaries filled in the Personal Wealth 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.

4. OBJECTIVE OF TRUST

4.1. The parties hereby agree that the Trust shall be solely for savings for 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 to 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. 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 are exhausted or till the Settlor liquidate the funds in the Trust.

7. DUTIES AND POWERS OF TRUSTEE

7.1. The Trustee shall ensure the safety of the Trust Fund during the lifespan of the Trust whilst in the pursuit of its duties to invest the Trust Fund. The Trustee shall exercise due diligence and ensure that the Fund is not lost or diminished.

7.2. 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 Settlor unless required by a valid court order. The Trustee shall however grant access to this Trust to the Beneficiary.

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

7.4. The Trustee shall add to the Trust Fund with all future sums to be transferred to the Trustee for the purpose of this Trust and 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.

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

7.5.1.1. 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

7.5.1.2. Securities created or issued by statutory corporations in 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;

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

7.5.2. Open/close ended/hybrid investment funds, including exchange traded funds.

7.5.3. Global Depositary Receipts and Eurobonds issued by listed Nigerian companies, as certified and approved by SEC;

7.5.4. 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.

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

8. RETURNS ON TRUST FUND AND TRUSTEE'S REMUNERATION

8.1. The parties agree that the Proceeds from the trust form shall attract returns at the gross rate of 10% per annum. The excess of the agreed rate shall be the Trustee's remuneration for its services.

8.2. 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.

8.3. The Trustee shall send the Settlor quarterly statements of account Detailing the balance of the proceed from the trust form fund held by the Trustee. Notwithstanding the aforesaid, the Settlor may request for a statement of account at any time.

9. LIQUIDATION AND TERMINATION OF TRUST

9.1. The Settlor reserve the right to terminate the Trust upon giving 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 upon receipt of notice arrange for the prudent and expeditious discontinuation of such investments and credit the Settlor with the balance of the Trust Fund.

9.2. 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.

10. DISPUTE RESOLUTION

10.1. 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 endeavors to reach an amicable settlement of the dispute.

10.2.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.

11. NOTICES

11.1. All notices, requests, consents, and other communications hereunder shall be in writing and may be emailed or dispatched (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 address(filled in the personal wealth trust form) and Trustee -trustees@cedrusgroup.africa

12. SEVERABILITY & DELAY

12.1. 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.

12.2. 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.

13. LEGALITY AND INDEMNITY

13.1. The 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.

13.2.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.

14. EMAIL INDEMNITY

14.1. The Settlor hereby authorize CTL to accept and act upon all his/her 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.

14.2. By signing this indemnity, the Settlor acknowledges and agrees as follows:

14.2.1. All email instructions emanating from the Settlor's designated email shall be treated as having been given by the Settlor in the form received by the Company.

14.2.2 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.

14.2.3. CTL cannot verify the authenticity of all email messages that claim to originate from the Settlor.

14.2.4. . 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 Settlor.

14.2.5 That the Settlor consents to fully indemnity and hold CTL harmless against any losses whatsoever, and 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 the Settlor 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.

14.2.6. That all electronic communication originating from the Settlor to CTL shall be legally binding on the Settlor for all intent and purposes.

14.2.7. 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

15. INSTRUCTION FORM

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

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:

PERSONAL WEALTH TRUST

SETTLOR'S PERSONAL DETAILS:

ADDRESS:

DETAILS OF NEXT OF KIN:

SOURCE OF FUND:

BANK ACCOUNT DETAILS:

BENEFICIARY:

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. DUTIES AND POWERS OF TRUSTEE

8. RETURNS ON TRUST FUND AND TRUSTEE'S REMUNERATION

9. LIQUIDATION AND TERMINATION OF TRUST

10. DISPUTE RESOLUTION

11. NOTICES

12. SEVERABILITY & DELAY

13. LEGALITY AND INDEMNITY

14. EMAIL INDEMNITY

15. INSTRUCTION FORM

THE DEED OF TRUST WITNESS AS FOLLOWS:

Cedrus Group Africa provides strategic advice, guidance and execution excellence for our clients.

Services

Contact

Legal

© 2024 CEDRUS GROUP AFRICA. All rights reserved.