TERMS AND CONDITIONS FOR MILLIONAIREASIA CLUB MEMBERSHIP

VERSION 1.0 14 May 2022

These terms and conditions (“Terms”) define the contractual relationship between Millionaireasia Pte Ltd (the “Company”) and each individual member. All persons applying for membership shall be deemed to have read and accepted the Terms. The Terms may be amended by the Company from time to time without prior notice. The amended Terms shall be effective as soon as it is published on the Company’s website. Please review these Terms periodically as your continued participation in the membership is deemed acceptance of any revised Terms in force at the time. 

1. Membership

a) All membership applications are subject to acceptance by the Company at its sole discretion. The Company shall notify you if your membership application has been accepted. The Company shall be under no obligation to provide any reason(s) for the rejection of applications.

b) You are obliged to provide correct personal details when you apply for membership. Failure to do so may invalidate your membership and any subsequent transactions. Your responsibility to provide accurate information is a continuing obligation and you must notify the Company promptly if any information provided by you in connection with your membership changes.

c) The Company will issue a membership card, e-card or physical, together with the relevant membership documentation as soon as possible following receipt of your membership fees.

d) Your membership is personal to you. You are responsible for ensuring that no third party (other than your personal assistant on your behalf, where applicable) uses your membership.

e) Access to and use of your personalised membership services through the Company’s platforms is through a combination of username and password. You are solely responsible for maintaining the confidentiality of your username and password and you agree to notify the Company immediately if you believe that there has been any breach of security, including the unauthorised use of your membership card, username and password.

f) During the participation of membership’s activities, members are not permitted to solicit or paddle for business. While the Company welcomes all eligible members to apply, the Company may from time to time apply certain criteria with respect to the composition of its members, including the number of members who are involved in certain industries. An applicant who is (a) a financial adviser representative with an RNF (Representative Notification Framework) number issued by the Monetary Authority of Singapore, (b) a real estate agent with an RES (Real Estate Salesperson) number issued by the Council for Estate Agencies, or (c) a person who is involved in Direct Selling is required to make a declaration on his/her status in the membership application form. In the event of any false declaration, the Company reserves the right to terminate your membership, without any form of refund to you.

2. Membership Fees and Payment

a) You are required to pay an application fee of $200. This fee shall be refunded to you if we reject your application to be a member. In the event that the applicant withdraws the application, the fees is not refundable. You are required to pay the membership fees, upon our acceptance of your full or associate membership application respectively.

b) There are 2 categories of membership: Full members (Individuals or Corporate) and Associate members. The minimum criteria to be qualified to apply for Individual & Corporate Full membership is an accredited investor (AI) & paid-up capital of at least one million for the company respectively. Corporate Member may send up to 2 representatives to participate in the Millionaireasia Club events. However, they are NOT allowed to send sale representatives of the company to the events.

c) The One-Time membership fees, except FoMo with annual renewal fees (as the case may be) are as follows:

Types

Category

Membership Fees

Ultima

Full Member

$100,000

Prestige

Full Member

$16,800

MINI

Associate Member

$888

FoMo

Associate Member

$100

d) The company reserves the right to accept members by waiving the minimum criteria for qualifications.

e) The Company may establish new classes of membership.

f) All Full Members are automatically enrolled into the Affiliate Member’s program and enjoy all their benefits for FREE.

g) The Company reserves the right to adjust its membership fees at any time, or imposed renewal fees and shall provide Members with at least thirty (30) days’ advance notice in respect of any such adjustment.

h) The Company and its affiliated companies and/or Affiliate Members reserve the right to refuse to provide you with any services should any payment due under these Terms not be received or breaches of Member’s Terms and Conditions.

3. Cancellation

a) You have the right to cancel your membership until the end of fourteen (14) days after the day on which the Company accepts your membership application (the “Cancellation Period”) by providing you with written notice.

b) If you cancel your membership within the Cancellation Period, the Company will refund your membership fees, less (a) deductions for any services rendered to you by the Company up until you informed the Company of your decision to cancel and (b) an administrative charge of S$500.

c) The Company reserves its right in its sole discretion to cancel or suspend your membership where it has reason to do so. If the Company cancels your membership, where it is reasonable to do so the Company shall refund the balance of the current annual membership fees on a pro rata basis in respect of the unexpired period to which the membership fee related to. The term of the membership for the purpose of this paragraph is deemed to be 5 years.

4. Membership Privileges

a) Full members (Ultima & Prestige) may be invited to the following events, subject to a fee for some events, which are specially curated for High Net Worth Individuals & Accredited Investor respectively,

i. Private dining events with celebrities, renowned personality or prominent individuals.

ii. VIP access to special events;

iii. Exclusive luxury launches such as private jet, yacht, hyper cars, jewelleries & etc.

iv. Special lifestyle launches such as super cars, fashion, wine & whiskey, watches, etc.

v. Roundtable discussion on business opportunities with successful businesspeople, high-net-worth individuals and members of the high society;

vi. Established entrepreneurs’ exclusive business presentations;

vii. Think-tank investment night;

viii. Overseas Mission Trip for business collaborations and investment; and

ix. Annual Dinner & Dance;

b) Full and Associate members, subject to a fee for some events, may be invited for the following events:

i. Venture’s presentations for start-up and VC mentorship and investment opportunities;

ii. Regular networking sessions catered to interests and preferences.

c) All events organised by the Company are strictly subject to prevailing government rules and regulations (including relating to Covid-19 safe management measures). Due to limitations arising from the prevailing Covid-19 safe management measures, Members who have registered for events but failed to attend without advance notice will be accorded with lower priority for future events.

5. Transferability

All membership are transferable, subject to a 10% fees of the prevailing membership fees (or actual transferred price, whichever is higher) and company’s approval.

6. Limitation of liability

a) All descriptions of any products, services or benefits provided to you by the Company have been approved by the relevant supplier. The Company shall not be liable for any inaccurate or misleading descriptions.

b) In no event shall the Company be liable for any special, indirect, incidental or consequential damages, loss of revenue or profits, loss of business, depletion of goodwill and/or similar losses, loss of anticipated savings, loss of goods; or, loss of contract, or loss of use or, loss of corruption of data or information whether direct or indirect or loss of property or (to the extent permitted by the law) personal injury or death, arising under or in connection with the membership.

c) In no event shall the Company’s aggregate liability to the member in respect of all other losses arising under or in connection with their membership, whether arising out of or related to breach of contract, tort (including negligence), or otherwise, exceed the total value of the member’s annual membership fee.

d) The Company may assign or deal with these Terms in favour of any of its subsidiaries, subcontractors or appointed agents to carry out any of its obligations herein. The Company shall not be responsible to the member for any delay in performance or non-performance of its subcontractors and/or agents due to causes beyond its reasonable control.

e) Except as expressly set out in these Terms, all warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from these Terms.

f) This Clause 6 shall survive termination of these Terms.

7. Supply of services

a) The Company shall supply services to the member during the membership in accordance with the member’s particular requests, provided always that the Company shall not be required to provide or facilitate the provision of goods and/or services that it deems at its sole discretion may violate applicable laws, standards and/or regulations or may offend taste and decency in the relevant jurisdiction.

b) The Company shall use its reasonable endeavours to meet any performance dates specified, provided always that any such dates shall be estimates only and time shall not be of the essence for the performance of any services.

c) The Company shall have the right to make any changes to any services which it considers in its sole discretion are necessary to comply with any applicable law or health and safety requirement, or which do not materially affect the nature or quality of the services, and the Company shall notify the member in any such event.

d) You acknowledge that the Company reserves the right to accept commissions upon the supply of products and/or services or performance of services by it or any supplier.

8. Feedback and Suggestions

Complaints or violations of these Terms by any member should be reported to the Company immediately. Any member with a suggestion or complaint concerning any other member or any aspect of the membership or Terms may direct his or her comments to the Company in writing.

9. Personal data protection

Your membership is subject to the Company’s privacy policy, incorporated into these Terms by reference and is accessible at: https://www.millionaireasia.com/privacy-policy/, which applies at all times in relation to any data the Company collects from you.

10. Miscellaneous

a) The Company reserves the right to interpret, apply and communicate these Terms as posted on its website. All decisions made by the Company shall be final and conclusive in each case.

b) These Terms shall be governed by and construed in accordance with the laws of the Republic of Singapore. Any unresolved dispute arising under, out of, or in connection with these Terms, including any questions regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre for the time being in force.

c) Notwithstanding anything in these Terms, in the event of any dispute no party shall proceed to any dispute resolution unless the parties have made reasonable efforts to resolve the same through mediation in accordance with the mediation rules of the Singapore Mediation Centre for the time being in force.

d) To the extent that any provision contained or referred to herein is contrary to anything contained in any applicable laws, government regulations, orders or requirements that cannot be waived by agreement of the parties, such provision shall not apply. The invalidity of any provision shall not affect the validity of any other provision.

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