Digital Trustees Berhad – Terms of Use
1. Introduction
Digital Trustees Berhad (“DTB”) operates under the Trustee Act 1949 and the Companies Act 2016 as a licensed trustee company registered with the Companies Commission of Malaysia (SSM). These Terms of Use govern all services provided by DTB through its Trust Portal. By accessing or using DTB’s services, the Client acknowledges and agrees to these Terms.
2. Definitions
| Term | Definition |
|---|---|
| Client | Refers to the Settlor or any person establishing or administering a trust arrangement with DTB. |
| Trust Property | All assets, rights, and interests held by DTB in trust for the Client under a trust arrangement. |
| Trust Account | A segregated account administered by DTB for the safekeeping and management of Trust Property. |
| Trust Portal | The digital interface provided by DTB for Clients to view and manage trust-related information and services. |
| Digital Trustees Berhad (DTB) | A licensed trustee company operating under the Trustee Act 1949 and Companies Act 2016 of Malaysia. |
| Gambit Custody Sdn Bhd | A licensed Digital Asset Custodian appointed by DTB for safekeeping of digital assets forming part of a hybrid trust. |
| Applicable Laws | All laws, statutes, regulations, and guidelines applicable to trustee services in Malaysia, including the Trustee Act 1949, PDPA 2010, and AML/CFT requirements. |
| Confidential Information | All non-public information disclosed in connection with trustee services, including Client identity, trust details, or transaction records. |
| Instructions | Any written or electronic directive given by the Client to DTB concerning the administration or management of a trust. |
| Services | All trustee and fiduciary services provided by DTB, including record-keeping, safekeeping, administration, and distribution of Trust Property. |
3. Scope of Services
- 3.1 DTB provides trustee and fiduciary administration, including the establishment, management, and distribution of trust assets.
- 3.2 DTB may, where necessary, appoint service providers such as Gambit Custody Sdn Bhd for the safekeeping of digital components of a hybrid trust. DTB remains responsible for all fiduciary duties and oversight.
- 3.3 Clients acknowledge that DTB’s role is fiduciary in nature and does not constitute investment, trading, or advisory services.
4. Client Obligations
- 4.1 The Client shall provide accurate and complete information for onboarding and trust setup.
- 4.2 The Client agrees to comply with DTB’s due diligence requirements, including Know-Your-Customer (KYC) and verification of beneficiaries.
- 4.3 The Client authorizes DTB to rely on provided Instructions for trust administration, provided they are consistent with Applicable Laws and trust terms.
5. Fiduciary Duties and Recordkeeping
- 5.1 DTB shall maintain accurate trust records and ensure all Trust Property is segregated from company assets.
- 5.2 DTB may delegate operational functions but retains overall responsibility for the safekeeping and administration of the Trust Property.
- 5.3 DTB will comply with the Trustee Act 1949 and maintain transparency in its operations.
6. Communications and Access
- 6.1 All official communications between DTB and the Client shall be made through DTB’s Trust Portal or registered email channels.
- 6.2 The Client acknowledges that access credentials to the Trust Portal must be safeguarded and that DTB will not be liable for losses arising from unauthorized use due to Client negligence.
7. Confidentiality and Data Protection
- 7.1 DTB complies with the Personal Data Protection Act 2010 (PDPA).
- 7.2 DTB shall not disclose Confidential Information except as required by law, regulatory authority, or with Client consent.
- 7.3 DTB implements reasonable measures to ensure data integrity, confidentiality, and security.
8. Compliance and Reporting
- 8.1 DTB adheres to Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) requirements.
- 8.2 DTB may, without prior notice, suspend services where suspicious activities are detected.
- 8.3 Clients are responsible for ensuring that their Trust Property and instructions do not contravene Malaysian or international law.
9. Liability and Indemnity
- 9.1 DTB shall act with due care, skill, and diligence as expected of a trustee.
- 9.2 DTB shall not be liable for losses caused by events beyond its reasonable control, including system downtime or third-party failures.
- 9.3 Clients agree to indemnify DTB against any loss or liability resulting from inaccurate information or unlawful instructions.
10. Suspension or Termination
- 10.1 DTB may suspend or terminate access to services if the Client breaches these Terms or Applicable Laws.
- 10.2 Upon termination, DTB shall return any Trust Property in accordance with trust terms and legal requirements.
11. Amendments
DTB reserves the right to update these Terms from time to time. Updates will be communicated via DTB’s Trust Portal or registered email. Continued use of services constitutes acceptance of the revised Terms.
12. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of Malaysia, and the parties submit to the exclusive jurisdiction of the courts of Malaysia.
13. Contact
For inquiries or support, please contact: support@gambit.com.my