As a result, you may receive an inferior price when engaging in extended hours trading than you would during regular trading hours. Schwab is required to report adjusted cost basis, including short term and long term gain and loss details, to you and to the IRS for securities transactions in your taxable brokerage account(s). Different requirements apply to non-equity securities. By placing a trade order through the Electronic Services, you voluntarily agree to assume any added risk that may result from the lack of human review of your order in exchange for the reduced commissions and potentially greater convenience of electronic trading. During periods of heavy trading and/or wide price fluctuations ("Fast Markets"), there may be delays in executing your order or providing trade status reports to you. If an ACH transfer is revoked before final settlement and we do not receive final settlement, we may charge your Account for any amount that was previously credited and the person who sent the payment order will be considered not to have paid you. Authorizations under this section will remain in effect until you give us notice to the contrary at least one Business Day prior to the day on which cash dividends are paid. If you are unable to cover a short position (either through delivery of the security or through our "buying in" your position) in enough time for us to deliver the security to its lender, you agree to pay us for the losses we sustain as a result of the failure to deliver. No one except the account holders listed on the Account Application (and if community property is held, the account holders' spouses) has an interest in the Schwab Account. Whether or not you are assigned to an IBL, you may request service at an IBL branch just like any other branch (for example, if you are traveling). For example, many people in their advancing years may demonstrate declining cognitive ability. When you use the Electronic Services to place a trade order, you acknowledge that your order may not be reviewed by a registered representative before being routed to an exchange for execution, and you also will not have the opportunity to ask questions or otherwise interact with a Schwab representative. Independent investment advisors are not owned by, affiliated with, or supervised by Charles Schwab & Co., Inc. ("Schwab"). Margin maintenance requirements are set: Margin maintenance requirements may change without prior notice. The year range represents most of the records. Periodically, we will send you a comprehensive statement showing the activity in your account, including applicable interest charges, interest rates and adjusted daily debit balances. This Agreement contains important terms and conditions that apply to the Schwab Account and Schwab brokerage services. The path to your financial goals begins at your Schwab branch. Schwab only accepts limit orders in extended hours trading sessions. You acknowledge that we may not be able to locate a tape recording unless you can provide the date and time of the conversation and the full name of the representative to whom you spoke. Other minimums may apply to certain types of special accounts such as Custodial and College Saver accounts. You further agree to release Schwab from any liability for executing the orders you place using Schwab's Electronic Services. Lower liquidity and higher volatility in extended hours trading may result in wider than normal spreads for a particular security. This could have the effect of placing you in the position you were in before the transaction. Change Your Login ID. Schwab may ask you to remove any Non-Publicly Traded Security from your Account at any time and for any reason. Other fees and charges can also apply, as set forth in a separate agreement you will enter into and that will become part of this Account Agreement; While Schwab may make available its own proprietary research, or other information, this does not constitute an individualized recommendation that a security or transaction is appropriate for you or your account. Please read this important information carefully. Until notified otherwise by Schwab, you agree to use software that supports the Secure Socket Layer (SSL) protocol or other protocols accepted by Schwab and follow Schwab's logon procedures for Electronic Services that support such protocols. Therefore, before you apply for the Margin and Short Account Feature, you must carefully consider market conditions and your financial position and investment objectives. Information regarding the specific routing destination and execution time of your orders for up to a six-month period is also available upon request. In the event that Schwab asks you to remove a Non-Publicly Traded Security from your Account, and you do not request a distribution of the Non-Publicly Traded Security from your Account, remove it from your Account, or transfer it to another custodian within sixty (60) days after Schwab provides you written notice that it will no longer hold the Non-Publicly Traded Security, you authorize and direct Schwab to distribute or transfer the Non-Publicly Traded Security directly to you. You acknowledge that it may not be possible to cancel a market or limit order once you have placed it, and you agree to exercise caution before placing all orders. If you write uncovered put or call option contracts, your Account is subject to both initial margin and margin maintenance requirements. No portion of these fees will reduce or offset the fees otherwise due to Schwab in connection with the Account unless required by law. Because restricted/control securities transactions require special handling by both Schwab and third parties, processing your transaction may require several weeks, during which time the price of your securities may fluctuate.