© 2020 ONE group solutions  Fund Governance

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I.   Complaints Handling Policy

II.  Privacy Policy

III. Terms and Conditions of Website Use

I. Complaints Handling Policy

1. Objective and Scope of the Policy

The Firm is a société à responsabilité limitée incorporated under the laws of the Grand Duchy of Luxembourg.

In accordance with the Law of 17 December 2010 on undertakings for collective investment (the “2010 Law”) and in line with the provisions of CSSF Regulation No. 10-4 and CSSF Regulation No.16-07 (replacing CSSF Regulation 13-02) and other valid regulations (e.g. Article 112 of the 2010 Law), the Firm has established and implemented effective and appropriate procedures for the reasonable and prompt handling of complaints received from investors.

The Complaints Officer of the Firm will be responsible for handling complaints received by the Firm. Please refer to Section 8 for the relevant contact details.

2. Identification/Receipt of a Complaint

For the purpose of these procedures, a complaint is considered to be any expression of dissatisfaction either oral or written, justified or not, about the Firm’s provision of, or failure to provide a service.

Due to the operational structure of the Firm in its provision of management company services for third party collective investment schemes, complaints may be received directly by the Firm or through any of its delegates (e.g. Central Administration, Depositary, Investment Managers and Distributors).

The complainant may direct his/her complaint directly to the Firm for the attention of the Complaints Officer. The complainant may also direct the complaint in the first instance to one of the delegates of the Firm, who will in turn notify the Firm.

The Firm shall ensure that its employees, officers and directors as well as its delegates shall promptly notify the Complaints Officer of any complaint received for investigation and resolution in compliance with the regulations. The notification should be in writing and include the nature of the complaint, identify the complainant concerned and the date the complaint was received.

The notification letter shall describe the full case history, the complainant’s position and request and shall be accompanied by all necessary information and documentation such as copies of transactions and the related correspondence with the Firm and/or its delegates or other relevant third parties.

The Firm shall be responsible for ensuring that the complaint is handled in accordance with the applicable regulations and that records of all contact with the client and all records used in the investigation are retained appropriately.

a. Assessment/Resolution of a Complaint

Upon notification of a complaint, the Firm will take the steps necessary to determine the basis of the complaint. The Firm shall:

  • Ensure the complaint is acknowledged in writing to the complainant within 48 hours of its receipt and in any event within a period which shall not exceed 10 business days after receipt of the complaint, unless the answer itself is provided to the complainant within this period.

  • Ensure that the complainant is informed of the name and contact details of the person in charge of the complaint and details as relevant of any other persons for escalation purposes within the Firm.

  • Ensure that the complainant is informed, on paper or by way of another durable medium, of the existence of the out-of-court complaint resolution procedure at the CSSF.

  • Seek to gather further relevant information and evidence as part of the investigation into the complaint.

  • Provide a final written response to the complainant either by letter or electronic mail regarding the resolution of the complaint as soon as practicable and in any event no later than one month from the date of the receipt of the original complaint. The response should contain:

o The outcome of the investigation;
o A clear explanation as to why the complaint has been upheld or rejected as

the case may be;
o Details of any redress or compensation offered where applicable;
o Where appropriate, an apology, as well as details of measures that will be

considered in order to prevent further similar complaints.

  • Where it is not possible to provide a response within such timeframe, the Firm shall inform the complainant about the cause of the delay and provide a date by which the

    complaint may be resolved.

  • All communication with the complainant should be made in a plain and

    comprehensive language.

    Where the complaint is upheld, the Firm may consider appropriate redress (such as an apology or an amount of compensation due to the complainant). Where the complaint is upheld and compensation due, the amount of compensation should be fair and reflect any acts or omissions for which the Firm is responsible. Before offering compensation, approval must be obtained from the Firm’s Executive Committee.

    A complaint is only considered “resolved” where the complainant has indicated acceptance of the response. The acceptance need not be in writing, however, positive feedback is required.

b. On going Review and Reporting

The Firm shall:

  • Ensure that all complaints received are analysed to identify whether they have arisen due to a systemic failure in processes or controls within the Firm or at its delegates and address as appropriate any deficiencies.

  • Ensure that complaints are escalated as appropriate through internal channels and ultimately to the Executive Committee during the assessment phase and upon resolution.

  • Ensure that the Executive Committee is informed on a regular basis of all complaints received as regards to the complaints’ nature, its background, its financial/legal/regulatory impact, the actions taken for its resolution and the steps to prevent reoccurrence.

  • Report to CSSF on an annual basis the details on the complaints received.

c. Referral to the CSSF

Where a complainant does not deem the response received to be satisfactory, they shall be informed by the Firm in writing of the CSSF out-of-court complaint resolution procedure as set out in CSSF Regulation No. 16-07 and shall either be sent a copy thereof or provided with the direct link to the document on the CSSF’s website. The complainant may then proceed to file his/her complaint directly with the CSSF.

The CSSF’s procedure for handling complaints that may be referred to them is aimed at facilitating the resolution of complaints against professionals without judicial proceedings. The CSSF may end the procedure at any time if it finds that any of the parties uses the procedure for other purposes than the search for an amicable settlement of the complaint. The procedure is not a mediation procedure within the meaning of the law of 24 February 2012 introducing the mediation in civil and commercial matters.

In line with Art 4 of CSSF Regulation No. 16-07, the following instances would not be deemed to constitute an admissible complaint by the CSSF:

  • the complaint has been previously or is currently being examined by another alternative dispute resolution body, arbitrator, arbitration tribunal or a court, in Luxembourg or abroad;

  • the complaint concerns the business policy of the Firm;

  • the complaint concerns a non-financial product or service;

  • the request is unreasonable, frivolous or vexatious;

  • the complaint has not been previously submitted to the Firm in accordance with

    CSSF Regulation No. 16/07, as the opening of the procedure by the CSSF is subject to the condition that the complaint has been previously dealt with by the Firm; in this regard, the complaint must have been previously sent in writing to the Complaints Officer of the Firm and the complainant must not have received an answer or a satisfactory answer from that person within one month from the date at which the complaint was sent;

  • the complainant has not filed a request with the CSSF within one year after s/he filed a request with the Firm;

  • the request handling would seriously impair the efficient functioning of the CSSF.

    Where the complainant did not receive an answer or a satisfactory answer within the period referred to in the preceding paragraph, s/he may file his/her request with the CSSF within one year after s/he filed his/her complaint with the Firm.

3. Out of Court Complaint Resolution Process

a. Request Procedure

Where the Firm has undertaken to resort to the out-of-court complaint resolution procedure with the CSSF, the Firm shall send to the complainant a copy of the CSSF Regulation No.16- 07 or the reference to the CSSF website, as well as the different means to contact the CSSF to file a request, to the complainant.

The request must be filed with the CSSF in writing, by post or by fax to the CSSF or by email (to the address/number available on the CSSF website), or online on the CSSF website. In order to facilitate the filing of a request, the CSSF publishes a form on its website.

The request for the CSSF resolution procedure shall be supported by a statement of the

reasons on which it is based, together with the following documents:

  • a detailed and chronological statement of the facts underlying the complaint and the steps already taken by the complainant;

  • a copy of the prior complaint that was filed with the Firm;

  • a copy of the answer to the prior complaint or the confirmation by the complainant

    that s/he did not receive an answer one month after s/he sent his/her prior complaint

    to the Firm;

  • a statement by the complainant confirming that s/he did not refer the matter to a

    court, an arbitrator or another out-of-court complaint resolution body in Luxembourg

    or abroad;

  • the agreement of the complainant with the request handling conditions of the CSSF

    as body responsible for the out-of-court resolution of his/her complaint;

  • the express authorisation of the applicant so that the CSSF can transmit its request (including the attachments) as well as any future correspondence or information to

    the Firm concerned by the request;

  • in the case where a person acts on behalf of a complainant or on behalf of a legal

    person, a document showing that the person is legally entitled to act in such capacity;

  • a copy of a valid ID document of the complainant (natural person) or, where the

    complainant is a legal person, of the natural person representing this legal person.

    The CSSF may request the production of any other document or information, in any form whatsoever, it may require necessary. The request by the complainant shall be filed in Luxembourgish, German, English or French. The procedure will, in principle, be conducted in one of the above-mentioned languages in which the request was filed with the CSSF.

    As soon as the CSSF is in possession of all the documents or relevant information, it shall confirm to the complainant and to the Firm in writing or by way of a durable medium that it has received the complete request and the date of receipt of the complete request.

    In the case where the CSSF is unable to deal with the request, it provides the two parties within three weeks after the receipt of the complete request with a detailed explanation of the reasons why it does not accept to deal with the complaint. Within the same period of three weeks, the CSSF informs the parties if it accepts to treat the request.

b. CSSF Analysis

Where the analysis of the file relating to the request is completed, the CSSF addresses a conclusion letter to the parties, including the statement of reasons for the position taken. Where it concludes that the request is totally or partly justified, it asks the parties to contact each other to settle their dispute in view of the reasoned conclusion and to inform it of the follow-up.

Where the CSSF comes to the conclusion that the positions of the parties are irreconcilable or unverifiable, it informs the parties thereof in writing.

The parties are informed that the conclusions reached by the CSSF after the analysis of the request may be different from the order of a court applying legal provisions.

The parties are also informed that due to the fact that the reasoned conclusions of the CSSF are not binding on the parties, they are free to accept or refuse to follow them. In the conclusion letter, the parties' attention is also drawn to the possibility to seek remedies through legal proceedings, in particular, if the parties fail to reach an agreement after the CSSF issued its reasoned conclusion.

The CSSF requests in its conclusion that the parties inform it within a reasonable period set out in the letter whether they decided to accept or refuse the solution proposed by the CSSF.

The procedure shall be in writing. However, if the CSSF deems it necessary for the examination of the file, it may convene one or several meetings with the parties.

The parties have access to the procedure without having to resort to a lawyer or a legal adviser. However, the parties to the procedure may seek an independent opinion or be represented or assisted by a third party at all stages of the procedure.

c. Duration of Procedure

The CSSF shall issue a reasoned conclusion within 90 days.

The 90-day period starts running where the CSSF receives a complete request that meets the conditions of paragraph (2). The written confirmation referred to in paragraph (2) informs the parties of the date at which the 90-day period begins.


The 90-day period may be extended in the case of highly complex files. In this event, the CSSF informs the parties of the approximate necessary extension as soon as possible and at the latest before the end of the 90-day period.

d. Closing of Procedure

The CSSF out-of-court dispute resolution procedure ends:

  • when the CSSF sends a reasoned conclusion letter in which the CSSF either states that it is unable to deal with the request, or where it communicates the outcome of the procedure to the parties;

  • if an amicable settlement between the Firm and the applicant is reached during the procedure, and which the CSSF has been informed of;

  • in case of a written withdrawal of one of the parties, which may occur at any time during the procedure, and which must be notified to the other party and to the CSSF within a reasonable period, in writing or by way of a durable medium;

  • if the right on which the complaint is based is prescribed and where the Firm claims that the time period for exercising that right has expired;

  • if the complaint has been submitted to a Luxembourg or foreign court or arbitrator

  • if the complaint has been submitted to an out-of-court complaint resolution body other

    than the CSSF in Luxembourg or abroad;

if the applicant does not provide the additional documents, information, explanations or

positions requested by the CSSF within the period set by the CSSF that cannot exceed three weeks.

4. Record Keeping

The Firm shall ensure that all letters, faxes and e-mails relating to the complaint are kept in line with regulatory requirements. Copies of all the above should be forwarded to the Complaints Officer of the Firm.

5. Contact Details

Any questions about these procedures should be directed to the Complaints Officer of the Firm at the following address:

Tobias Ettlin
Chief Compliance Officer Building Cubus C3
4, rue Peternelchen L-2370 Howald

II. Privacy Policy

1. Introduction

One Group Solutions (hereafter referred to as “the Firm,” “we,” “us,” “our”) is committed to protecting and respecting your privacy. Further information about us and our contact details are set out in the section “our details” below.
This policy, along with our Data Protection Policy and the Terms and Conditions governing the use our website, explains how we will process personal data you provide when you subscribe for units or shares in one of our investment funds (the “Funds”), when you visit https://www.one- gs.com (the “Website”), when you discuss or enter into transaction with us, or when you email us, telephone us, network with us or otherwise communicate with us. “Processing” is defined under applicable data protection laws, most notably the Regulation 2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (“GDPR”), and includes, among other things, the collection, storage and use of personal data.

This policy applies where we are acting as the data controller with respect to your personal data (in other words, where we determine the purpose and means of the processing of that data). In relation to our Funds, your personal data many also be processed by an entity acting as the administrator, fund accountant, depositary, custodian, or auditor of a Fund; or an entity acting as the investment manager, distributer or sponsor of the Fund (or any of their respective affiliates, agents, employees, delegates or sub-contractors) acting as data controller (for example, to comply with their own legal or regulatory obligations) or in certain cases as data processors.

2. Changes to This Policy

This policy may change from time to time, in which case we will publish a new version on our Website, which will become effective immediately. Please check this page occasionally to see any updates or changes.

3. Information We Collect From You

Information that you give us – this may include:

  • Your title, name and date of birth

  • Contact information, including telephone number, postal address and email address

  • Information relating to your location, preferences or interests

  • Employment and job application details (e.g. employment history, qualifications, equality

    monitoring information)

  • Y our personal description or photographic identification

  • In certain circumstances, your and others’ signatures, National Insurance number(s),

    financial details such as bank account details and details of any relevant sanctions or

    similar restrictions

  • The content of any enquiry submitted over our Website

  • Information about your holdings in a Fund or the reference number in relation to your

    holdings

    In relation to investors or potential investors in our Funds, you have the right to refuse to give us your personal data in which case we may at our discretion: refuse to issue shares or units in a Fund to you, refuse to pay the proceeds of a redemption of shares or units, refuse to pay income on shares or units to you, compulsory redeem your holding.

 

4. Information We Collect About You

a. Usage Data

Each time you visit our Website we automatically collect the following information:

  • Internet protocol or IP address

  • Pages accessed

b. Cookies

Our Website uses cookies to distinguish you from other users of our Website. This helps to provide you with an improved experience when you browse our Website and also allows us to improve the Website. For detailed information on the cookies we use and the purposes for which we use them, please refer to our Cookie Policy.

5. Use of Personal Data and Basis of Processing

One Group Solutions will use the Personal Data:

  • For the purposes of performing the Services for which One Group Solutions is engaged,

    including (a) setting up and administering the account(s) of clients; (b) conducting or arranging for the conduct of anti-money laundering checks and related actions to meet applicable legal obligations of One Group Solutions or Clients relating to the prevention of fraud, money laundering, terrorist financing, bribery, corruption, tax evasion; (c) dealing with queries or complaints from registered unitholders of funds managed, sponsored or advised by Clients; (d) in connection with the board reporting and regulatory reporting requirements; and (e) for other day to day operational and business purposes.

  • In order to comply with our legal obligations, including: (a) anti-money laundering and anti-terrorist financing (collectively “AML”) and fraud prevention purposes, including OFAC and PEP screening for these purposes and to comply with UN, EU and other applicable sanctions regimes; (b) compliance with applicable tax and regulatory reporting obligations; and (c) where One Group Solutions is ordered to disclose information by a court with appropriate jurisdiction.

  • Where use is for a legitimate purpose of One Group Solutions, including: (a) for day to day operational and business purposes; (b) to take advice from One Group Solutions and Clients’ external legal and other advisors; and (c) for direct marketing purposes in order to provide information and about One Group Solutions’s products and services;

  • Where necessary, to establish, exercise or defend its legal rights or for the purpose of legal proceedings;

  • Where you have consented to use for a particular purpose. If you give consent for One Group Solutions to use your Personal Data for a particular purpose, you have the right at any time to withdraw consent to the future use of your Personal Data for some or all of those purposes by writing to the address specified below.

One Group Solutions will not disclose any Personal Data to any third party, except as outlined above and / or as follows:

  • To enable One Group Solutions to carry out the obligations under the contract for Services with Clients or in anticipation of entering into such a contract for Services;

  • Where Personal Data needs to be shared with the service providers appointed to Clients, including distributor entities, investment management entities, administrator entities, trustee entities and its or their sub-contractors in connection with the Services;

  • Where Personal Data needs to be shared with the service providers appointed to Clients, including distributor entities, investment management entities, administrator entities, trustee entities and its or their sub-contractors in connection with the Services;

  • Where One Group Solutions is subject to a separate legal obligation requiring it to act as controller of the Personal Data, including where it is required to use the Personal Data for the discharge of its own AML obligations;

  • Where One Group Solutions needs to share Personal Data with its auditors, and legal and other advisors;

  • In the event of a merger or proposed merger, any (or any proposed) transferee of, or successor in title to, the whole or any part of One Group Solutions’ business, and their respective officers, employees, agents and advisers, to the extent necessary to give effect to such merger;

  • Where the disclosure is required by law or regulation, or court or administrative order having force of law, or is required to be made to any of One Group Solutions’ regulators. One Group Solutions will not otherwise share Personal Data with any third party unless it receives the prior written consent from you to do so.

6. International transfers

Aside from an adequacy decision, which allows the free flow of Personal Data from the EU without One Group Solutions having to implement any additional safeguards or being subject to further conditions, the Data Protection Legislation allows a transfer if the Data Controller or Data Processor has provided appropriate safeguards. These safeguards may be provided for by:

  • Standard data protection clauses: the European Commission has adopted three sets of model clauses which are available on the European Commission’s website (https://ec.europa.eu/info/law/law-topic/data-protection_en). Model Clauses for the Jersey and Guernsey Commission are available on the relevant Commission’s website (Jersey https://oicjersey.org and Guernsey https://dataci.gg).

  • Binding corporate rules: legally binding data protection rules approved by the competent data protection authority which apply within a corporate group;

  • Approved codes of conduct together with binding and enforceable commitments of the controller or processor in the third country;

  • Approved certification mechanisms together with binding and enforceable commitments of the controller or processor in the third country.

In the absence of an adequacy decision or of appropriate safeguards a transfer or a set of transfers may take place on the basis of so-called “derogations” which allow transfers in specific cases, such as based on consent, for the performance of a contract, for the exercise of legal claims or for important reasons of public interest.

One Group Solutions anticipates transferring Personal Data to authorised delegates such as administrators, investment managers, distributors and their respective affiliates appointed by One Group Solutions or Clients, some of which may include entities located outside of the EEA. Any transmission of Personal Data by One Group Solutions outside the EEA shall be in accordance with the conditions of the Data Protection Legislation.

7. Sensitive Personal Data

One Group Solutions may, in limited circumstances, collect and process Sensitive Personal Data. Any Sensitive Personal Data will only be processed in accordance with the requirements of the Data Protection Legislation.

 

8. Recipient of the Personal Data

In any case where One Group Solutions shares Personal Data with a third party data controller (including, as appropriate, service providers appointed by One Group Solutions or Clients), the use by that third party of the Personal Data will be subject to the third party’s own privacy policies.

9. Updates to Personal Data

One Group Solutions will use reasonable efforts to keep Personal Data up to date. However, where the Personal Information relates to individuals connected with or under the control of Clients, Clients will need to notify One Group Solutions without delay in the event of changes to the personal circumstances of an individual connected with the Client so that One Group Solutions can keep the Personal Data up to date.

10. Retention of Personal Data

One Group Solutions is obliged to retain certain information to ensure accuracy, to help maintain quality of service and for legal, regulatory, fraud prevention and legitimate business purposes. It is obliged by law to retain AML related identification and transaction records for six years from the end of the relevant investor relationship or the date of the transaction respectively. Other information will be retained for no longer than is necessary for the purpose for which it was obtained by One Group Solutions or as required or permitted for legal, regulatory, fraud prevention and legitimate business purposes. In general, One Group Solutions (or its service providers on its behalf) will hold this information for a period of five years, unless it is obliged to hold it for a longer or shorter period under law or applicable regulations. One Group Solutions will also retain records of telephone calls and any electronic communications for a period of five years and, where requested by the Central Bank, for a period of up to seven years.

11. Your Rights in relation to Personal Data

You may at any time request a copy of your Personal Data from One Group Solutions. This right can be exercised by writing to One Group Solutions at the address specified below. You also have the right to correct any inaccuracies in, and in certain circumstances, to request erasure, or restriction on the use, of your Personal Data, and to object to certain uses of your Personal Data, in each case subject to the restrictions set out in applicable Data Protection Legislation. Further information on these rights, and the circumstances in which they may arise in connection with One Group Solutions’s processing of Personal Data can be obtained by writing to One Group Solutions at the address specified below. In any case where One Group Solutions’s is relying on your consent to process your Personal Data, you the right to change your mind and withdraw consent by writing to the address specified below. Where One Group Solutions is relying on a legitimate purpose of One Group Solutions in order to use and disclose Personal Data, you are entitled to object to such use or disclosure of your Personal Data, and if he /she does so, One Group Solutions will cease to use and process the Personal Data for that purpose unless One Group Solutions can show there are compelling legitimate reasons for it to continue or it needs to use the Personal Data for the purposes of legal claims. You also have the right to lodge a complaint about the processing of your Personal Data by One Group Solutions with the Data Protection Commission.

12. Contacting Us

Any queries, complaints regarding the use of the Personal Data, the exercise of individual rights, or the withdrawal of consent, should be addressed to:

Tobias Ettlin
Chief Compliance Officer Building Cubus C3
4, rue Peternelchen L-2370 Howald

 

III. Terms and Conditions of Website Use

1. Introduction

These Website Standard Terms and Conditions (the “Terms”) written on this webpage are intended to manage your use of https://www.one-gs.com (the “Website”). By using this Website, you agreed to accept all Terms and Conditions written herein. You must not use this Website if you disagree with any of these Terms.

Minors or people below 18 years old are not allowed to use this Website.

2. Intellectual Property Rights

Other than the content you own, under these Terms, One Group Solutions Solutions S.à r.l (“One Group Solutions”) and/or its licensors own all the intellectual property rights and materials contained in this Website.

You are granted a limited license only for purposes of viewing the material contained on this Website.

3. Restrictions

You are specifically restricted from all of the following:

  • publishing any Website material in any other media;

  • selling, sublicensing and/or otherwise commercializing any Website material;

  • publicly performing and/or showing any Website material;

  • using this Website in any way that is or may be damaging to this Website;

  • using this Website in any way that impacts user access to this Website;

  • using this Website contrary to applicable laws and regulations, or in any way may cause

    harm to the Website, or to any person or business entity;

  • engaging in any data mining, data harvesting, data extracting or any other similar activity

    in relation to this Website; and

  • using this Website to engage in any advertising or marketing.

 

Certain areas of the Website are restricted from being access by you and One Group Solutions may further restrict access to you to any areas of this Website at any time, in absolute discretion. Any user ID and password you may have for this Website are confidential.

4. Your Content

In these Terms “Your Content” shall mean any audio, video text, images or other material you choose to display on this Website. By displaying Your Content, you consent to and grant One Group Solutions a non-exclusive, worldwide irrevocable, sub licensable license to use, reproduce, adapt, publish, translate and distribute it in any and all media.

Your Content must be your own and must not be invading any third-party’s rights. One Group Solutions Solutions reserves the right to remove any of Your Content from this Website at any time without notice.

5. No Warranties

This Website is provided “as is,” with all faults, and One Group Solutions express no representations or warranties, of any kind related to this Website or the materials contained on this Website. Also, nothing contained on this Website shall be interpreted as advising you.

6. Limitation of Liability

In no event shall One Group Solutions, nor any of its officers, directors and employees, shall be held liable for anything arising out of or in any way connected with your use of this Website. One Group Solutions, including its officers, directors and employees shall not be held liable for any indirect, consequential or special liability arising out of or in any way related to your use of this Website.

7. Indemnification

You hereby indemnify to the fullest extent One Group Solutions from and against any and/or all liabilities, costs, demands, causes of action, damages and expenses arising in any way related to your each of any of the provisions of these Terms.

8. Severability

If any provision of these Terms is found to be invalid under any applicable law, such provisions shall be deleted without affecting the remaining provisions herein.

9. Variation of Terms

One Group Solutions is permitted to revise these Terms at any time as it sees fit, and by using this Website you are expected to review these Terms on a regular basis.

10. Assignment

One Group Solutions is allowed to assign, transfer, and subcontract its rights and/or obligations under these Terms without any notification. However, you are not allowed to assign, transfer, or subcontract any of your rights and/or obligations under these Terms.

11. Entire Agreement

These Terms constitute the entire agreement between One Group Solutions and you in relation to your use of this Website, and supersede all prior agreements and understandings.

12. Governing Law & Jurisdiction

These Terms will be governed by and interpreted in accordance with the laws of Luxembourg, and you submit to the non-exclusive jurisdiction of the courts located in Luxembourg for the resolution of any disputes.