Asset Recovery — Terms & Conditions
These terms govern all asset recovery services provided by NBK Brokerage K.S.C. Please read carefully before submitting a recovery request.
1. Definitions
“NBK Brokerage” means NBK Brokerage K.S.C., a company incorporated under the laws of the State of Kuwait.
“Client” means the individual or entity requesting asset recovery services.
“Recovery Request” means a formal submission by a Client requesting NBK Brokerage to investigate and attempt to recover lost, frozen, or misappropriated financial assets.
“Assets” means cash, securities, digital assets, real property interests, or any other financial instrument subject to a Recovery Request.
“Recovery Fee” means the fee payable to NBK Brokerage upon successful recovery of Assets.
2. Eligibility
- 2.1 Recovery services are available to individuals aged 18 or over and to registered legal entities.
- 2.2 The Client must be the lawful owner of the Assets or hold an authorised power of attorney from the lawful owner.
- 2.3 NBK Brokerage reserves the right to decline any Recovery Request at its absolute discretion, including where the request involves assets of unclear ownership, assets subject to criminal proceedings, or assets in jurisdictions where NBK Brokerage does not operate.
- 2.4 Clients must pass NBK Brokerage’s standard KYC/AML verification before a Recovery Request can be formally accepted.
3. Recovery Process
- 3.1 The Client must submit a completed Recovery Request form, including all supporting documentation as specified by NBK Brokerage.
- 3.2 NBK Brokerage will conduct an initial assessment within 5 business days of receiving a complete application. NBK Brokerage may request additional documentation during this period.
- 3.3 NBK Brokerage will provide the Client with a written assessment outlining the likelihood of recovery, estimated timeline, and applicable fees before any recovery work commences.
- 3.4 The Client must provide written authorisation before NBK Brokerage takes any action on the Client’s behalf with third parties, financial institutions, or regulatory bodies.
- 3.5 NBK Brokerage will provide regular progress updates to the Client at agreed intervals, or upon request.
4. Fees
- 4.1 NBK Brokerage charges a non-refundable assessment fee upon acceptance of a Recovery Request. The assessment fee will be stated in the Client engagement letter.
- 4.2 A success fee, calculated as a percentage of the total recovered amount, is payable upon successful recovery. The success fee rate will be agreed in writing prior to commencement.
- 4.3 NBK Brokerage does not guarantee recovery and does not refund assessment fees where recovery is unsuccessful through no fault of NBK Brokerage.
- 4.4 Any out-of-pocket expenses incurred during the recovery process (legal fees, court costs, notarial fees, etc.) will be passed to the Client at cost, with prior written approval.
5. Client Obligations
- 5.1 The Client must provide accurate, complete, and truthful information throughout the recovery process. Providing false or misleading information will result in immediate termination of the engagement.
- 5.2 The Client must not take independent action regarding the Assets under recovery without NBK Brokerage’s written consent, as this may compromise the recovery process.
- 5.3 The Client must cooperate fully with NBK Brokerage’s requests for information, documentation, and authorisations in a timely manner.
6. Limitations & Disclaimers
- 6.1 NBK Brokerage provides asset recovery services on a best-efforts basis. We do not guarantee the recovery of any Assets.
- 6.2 NBK Brokerage’s total liability to the Client shall not exceed the fees paid by the Client to NBK Brokerage under these terms.
- 6.3 These terms are governed by the laws of the State of Kuwait. Any disputes shall be subject to the exclusive jurisdiction of the Kuwait courts.
Contact
Asset Recovery Division
NBK Brokerage K.S.C., Al-Hamra Tower, Floor 12, Kuwait City
Email: recovery@emiratefi.com | Phone: +965 2223 0722
