An interested Prospective CM (PCM) guided by a Qualified Executive Corporate Member (ECM), who holds an ECM Practicing Certificate, with their Practice Number therein, will assist the PCM to fill in the online account opening form, to open their OTEX account online. There are Terms and Conditions made clear at the Online Account Opening Form.
An ECM is a Corporate Member (CM) at OTEX World who has been examined via the Company’s online examination, hence graduated to be an ECM, thus qualified to invite and help others to become a CM at OTEX World. Any person claiming to be an ECM, but can’t produce their ECM Certificate, signed only under the hand of the Chairman for OTEX World, is NOT to be trusted nor are they licensed by the Company to represent OTEX World . You should ask that he/she produce his/ her ECM Certificate, and if he/she cannot do so, you should immediately report the full details of that person to Support@otexworld.com who will keep your details anonymous, and immediately refer the matter to the OTEX World Legal Team for enforcement action to be taken. Pending the circumstances, the person purporting or pretending to be an ECM, may be listed at the OTEX Bill Board, so others can be aware of this wrongdoer’s dishonest intentions. UNLESS THEY CAN PRODUCE THEIR ECM CERTIFICATE, they are NOT an ECM.
Yes, it is mandatory for you to scan in your national ID OR Passport Photo Page (Known as a “PP”) and Proof of Mailing (known as a “POM”) such as a utility bill which must be no older than 3 months. Also, you will need to furnish us with a permanent e-mail address and other related details. It is also MANDATORY for you to fill in the Beneficiary Details (BD), and when entering your name and address, it MUST BE the exact name and exact address shown in your PP and POM. If you don’t scan in your PP, POM and enter BD details, the system is designed to reject the account opening until these essential requirements are submitted. BD is your next of kin, such as your parents or your spouse. If you have neither, it can be a close friend over the age of 18. It is firmly advised that you NOT use your ECM or any other OTEX World Member as your BD, as this will likely cause a conflict of interest later.
Thereafter, the OTEX World, Legal Affairs and Compliance Team assigns a Compliance Officer, who is a Qualified Lawyer, to review all freshly opened Accounts regularly at the back office, to ensure KYC (Know Your Client) documents have been submitted, with a view to your account being KYC approved. KYC approval is essential for reasons stated below. Therefore, before setting out to open your OTEX account, you MUST be sure to have your PP and POM scanned in and saved, ready to be uploaded, with your account details and BD information ready. Your ECM is trained and qualified to guide you through this process and to prepare you for the Online account opening. If by some form of luck, you happen to get through the Account opening process WITHOUT these compulsory items, our Compliance team will NOT grant any KYC approval for your account, which means no second level or security password can be issued. Therefore, no cash out from any OTEX World account will be available to you, nor your Share certificate cannot be issued and no invitation to the Company’s AGM as its Shareholder, etc. If a Compliance Officer finds your account to be out of order, such as these missing compulsory requirements mentioned above, you will receive a CN (Compliance Note) at your email to remedy your mistakes, within 14 days, failing which, your account may be exposed to the above restrictions.
Yes, we accept that this is a reality in some parts of the world. Therefore, your ECM is trained and qualified to advise that YOU send an email to Support@otexworld.com, giving your exact and full address and the full name in your PP, and request for a PSL (POM Substitution Letter). Our Compliance Team will air-mailed this PSL to your PP name and full address given. This can arrive at your address anywhere in the World, within 10 days, and then you can upload this PSL, as your Substituted POM, when opening your OTEX account. Some CMs wrongfully scan in a blank page in place of their POM to circumvent the system and to get the account open. Obviously, they get to hear form our Compliance Team later, anyway no OTEX World Account is fully operational, until they get their KYC approved. Generally, as and when ECMs hold their respective meetings with PCMs (Prospective CMs), they will prepare you with these essential documents and know how to guide you better, so you are fully prepared for your online account opening.
Yes, but in the case of a company, you have to submit a Certificate of Incorporation (COI), Registered Office Proof (ROP) and a Signed Board Resolution (SBR) from the Company authorizing you to use that Company as a CM account holder at OTEX World, plus Company Bank Details (CBD) for that company, being the ONLY BANK ACCOUNT where your Cash Outs will be paid to. No matter if you are the sole director and 100% owner of this company, you are still required to scan submit these COI, ROP, SBR and CBD, documents when opening your account. Should it later be discovered that you have falsely represented yourself as the majority owner of the Company or failed to produce a SBR signed by the real Majority Owner(s) (which our Compliance team can easily check at the Official Government Companies Office), you will receive a CN seeking immediate remedy within 14 days, failing which, your OTEX World Company account may within the sole discretion of our Compliance Team, be suspended until the CN (Compliance Note) is duly complied to the satisfaction of the assigned Compliance Officer.
You are required to purchase your OUs NO LONGER than 72 hours from the time of a successful submission of your OTEX account opening. If no purchase is made after 72 hours; and you have failed to seek an extension of time from email@example.com, as the OTEX account system is time sensitive, your account can automatically be closed with your PP, POM and related details and automatically expunging from OTEX records, which will require you to go through the account opening procedure all over again, with your ECM.
When OTEX World is fully operational, we will accept major DEBIT cards for online purchase and Bank to Bank transfers done via online banking or other bank transfer methods. Thus, you simply click [PAY ONLINE] by DEBIT Card, OR Click [PAY BY BANK TRANSFER]. For Debit Card, a page will appear to fill in Debit card details. For Pay by Bank Transfer, the OTEX Bank details or Wiring details, will appear. Since PCMs are NOT ALLOWED to borrow money to join OTEX World, we don’t accept Credit Cards. For those who pay by BANK TRANSFER, they should scan attach proof of transfer to Otexfinance@gmail.com and report to them, like this….. “Hello, ThisScan Attachment is proof of settlement of my OU purchase for a New Account under Account ID …….”. Otex Finance will check for payment receipt and activate the new OTEX account.
It is lawful for an ECM to sell you his DULY EARNED OUs, which he/she can transfer to your 01, from his 02 or 03 account to get you started and activated immediately. For this, you must, of course, GET A WRITTEN RECEIPT FROM YOUR ECM for the OUs that you purchased from him in cash. This is the ECM’s property to sell as he/she sees fit and the Company has no control over that.
But the Company shall NEVER give out unpaid OUs to ECMs on credit. This is illegal and a Crime Punishable by imprisonment, because to do this, the ECM must have a Broker’s License by which to buy and sell OUs or other commodities. Plus pursuant to our Code of Ethics, they must be FORMALLY CONTRACTED by OTEX World as a recognized Agent. If anyone claims they have millions of OUs to sell and that they are authorized by the Company to do this, be sure to ask to see their contract from the Company and their Broker’s License. If they cannot produce these two required documents, be sure to report them to firstname.lastname@example.org at once, so immediate action can be taken to stop that person from making it worse for anyone else. Therefore, there are only two ways to pay for your OUs.
ONE: By Online Debit Card or Bank to Bank transfer to the OTEX Bank as shown at the Back Office Dashboard (BOD).
TWO: To purchase OU’s from an ECM who has DULY EARNED them as Commissions or Dividends, and NOT given to him to resell, by any third party.
These are the ONLY two ways that OTEX World will be responsible for the payment . If you give your money to anyone else, because you trust them or your ECM or others who said it’s OK to do so, OTEX World shall NOT be responsible for your mistaken decision, if something goes wrong.
An example only: OTEX Account No. 123456 -01 or 02 or 03.
Upon your successful account opening, you will be issued with your OTEX account number and under that account number, there are three (3) suffix accounts that will stem (or perhaps more later). This will be known as your OTEX ACCOUNT ONE (01) 24 month frozen principal OUs account and your OTEX ACCOUNT TWO (02), to receive your monthly dividends on the OU package that you purchased. There is also an OTEX ACCOUNT THREE (03) suffix account for ECMs to receive their commissions. Upon a successful purchase of your OUs, these OUs will be credited to your OTEX ACCOUNT 01 which is non-withdrawable within OTEX World for 24 Months pursuant to your Private Members Shareholders Agreement (PMSA). Your account will now be placed in the OTEX legitimate Uni-level register either manually by your ECM or via the OTEX computerized placement system.
Your OTEX ACCOUNT 02 and 03 is a "withdrawable" account which receives your dividends and Commissions based on the OU package that you purchased. Upon the monthly anniversary of your account, your monthly dividends will be automatically accrued and it will be credited to your OTEX ACCOUNT 02 or 03 and withdrawable Monthly, Quarterly or Bi-annually, pending what OU package you bought. Your ECM can further explain the details on this.
Providing your account is KYC approved (meaning that you have submitted all the account opening documentation duly expected from you, and our Compliance Team approves your documents to be proper (as explained in the Answer to Q.2 above), you are allowed to liquidate your OTEX ACCOUNT 02 and 03 balance if it is 500 OUs or above, pending the OU package you purchased. This is known as a “Cash Out”. You simply click or make a request via email to OTEX Finance Division by clicking “To Cash Out” at the BOD (Back Office Dashboard), to liquidate your OTEX ACCOUNT 02 & 03 OUs to cash, giving your desired amount to be transferred to your debit card or bank account on record with OTEX. This must be done on dates within the month, pursuant to the current OTEX “Cash Out” policy at the time.
OTEX can only allow “cash outs” to the Bank Account or Debit Card account that is in the SAME LEGAL NAME as the OTEX Account Holder’s name (or Company Name for Corporate Accounts). From there, CMs can easily redirect their cash out money from their own bank or debit card account, to third parties as they see sees fit.
Yes, it is true that all CMs (or above ranked) are part owners in OTEX World. The Corporate Members Trust (TCMT) is settled (set up) at Seychelles and controlled by a Government Licensed Professional Trustee. TCMT is completely independent of OTEX World. TCMT owns 40% of OTEX World (present par value (USD$40M) and providing CMs have received KYC approval of their OTEX accounts, they can simply click “Order Share Certificate (OSC)”, at the BOD (Back Office Dashboard) and follow onwards from there. Of course, as to be expected, there are legal fees related to any Legal Issuance, and this only costs 300 OUs (unless a change is promulgated giving proper notice), which is debited from the CMs’ OTEX ACCOUNT 02 or 03, account at the point of applying. A very presentable RED SEALED CERTIFICATE will be sealed, signed by the Official TCMT trustee and Airmailed to your letterbox. Please note that this can only happen after CMs have fully complied with KYC requirements, (See answer to FAQ.2 above). Thereafter, CMs who hold a Share Certificate will go on the TCMT world mailing list and will be invited to The OTEX World Annual General Meeting (AGMs).These “Cert Mail Outs “ will happen at monthly intervals, and arrive about 6 weeks after a proper application is submitted.
All CMs, who wish to earn additional commissions and want to help others, under the OTEX legitimate invitee system, must first qualify as an Executive Corporate Member (ECM). At the BOD, at the Corporate Members area, there are courses available to CMs who aspired to become an ECM. Whilst the course is not compulsory, but it is highly recommended. The Course is taught by a Lawyer, from the OTEX Legal and Compliance Team. The Examination and training fee only costs 500 OUs, which includes the course and after the one-hour lesson, CMs may go online and attempt the Online Examination in a room on their own, at the training venue supervised by the Compliance Officer attending. Exam results are immediately sent to the CMs’ email address. But for those who don’t wish to participate in these courses, they will need to study the PMSA, COE (Code of Ethics), this FAQ Chart and also the OTEX World website carefully, and may then attempt the online ECM examination. CMs must do the Exam on their own without any help from a third party and they click to declare this before attempting the Online Examination. The Exam paper is so far in the English, Chinese, Japanese and Korean language and more languages are being added as time goes on. You can click and find the ECM examination paper at the OTEX BOD, which the OTEX World management reserves the right to periodically change the Examination Paper. The Exam cannot be copied, pasted nor printed, and taking a photo of it is strictly forbidden. The Exam page opens for 30 minutes, being the time that the Examinee has to complete the examination. There are 10 questions in the exam paper, of which 8 out of 10 correct, is required to graduate as an ECM.
For CMs –there are very limited responsibilities! Just make your purchase of OUs, sit back, and your dividends go to your account 02 monthly with some minor CM compliance expected under the COE and PMSA, then let us do the hard work for you while the CM sits back and earns dividends!
But ECMs are first required to study the PMSA, COE, these FAQs, and our website, then attempt the OTEX Online Examination and graduate to ECM status and receive their ECM certificate which includes their practice No. Thereafter, as required at Article One of the OTEX Code of Ethics (COE), the ECM is duty bound to check on the local laws (at his/her expense) at whatever Jurisdiction or Country that he/ she decides to practice his/her profession as a Qualified ECM.
All Members (whether they are a CM, an ECM, a SCM or a MCM) shall be expected to uphold and fully comply with the OTEX COE, the Private Member Shareholders Agreement (PMSA) and LOCAL LAWS wherever they choose to operate their ECM practice, at all times.
OTEX will automatically send your PMSA to your email upon the opening of your new OTEX account and settlement of your purchased OUs. As required under the laws of Contractual Disclosure, a copy of your PMSA will also automatically be held by the OTEX Legal Office, for record keeping purposes. You will be expected to print out your PMSA, read it carefully, and keep it in a safe place.
Yes, by achieving the higher level ranking status of a SCM and thereafter the highest level in OTEX, as a MCM.
SCM: Supreme Corporate Member
MCM: Master Corporate Member.
Upon an ECM scan attaching their ECM Practice Certificate to Support@otexworld.com and requesting the pre-requisite for these higher level rankings, these can be email to them..
Yes, there is a chance for greater income when elevating to SCM and MCM, and the policy on how can be obtained as stated directly above.
This is periodically promulgated to all ECMs (or higher ranked) at the BOD from time to time and when the reward amounts change upwards. Only ECMs (whose emails are segregated apart from regular CMs) become privy to this information.
First, anyone can email a Customer Service Officer (CSO) at email@example.com to get help.
Second, CMs with KYC approval (or higher ranked) can click LEGAL WATCH (LW) at the OTEX BOD, and submit ONLY LEGAL QUESTIONS to receive early answers from LW. As laws in most jurisdictions prohibit lawyers from giving FREE Legal Advice to the public (except if the Lawyer is remunerated by a membership or club scheme and therefore can render FREE legal advice to its members), only persons who are existing CMs with KYC approval (or higher ranked) can use the LEGAL WATCH facility. But Prospect CMs may ask their ECM to obtain legal answers from LW on their behalf. Responses from LW must go direct to the email of the CM or ECM asking, and to no other third party email address, such as a PCM’s email, etc.
Third, public records, like our corporate licenses or other licenses can be obtained from LW ONLY BY ECMs (or higher ranked) who scan attach their ECM Practice Certificate. Thus, you should be able to obtain this information from your ECM.
We have Legal Watch (LW) Officers assigned to this duty on a roster system, and unless legal questions require a researched answer or the Question is not in English, LW answers can be given within 48 hours. For those who make the mistake of submitting NON Legal Questions to LW, should not expect any answer from LW, but an answer may come to them from the related OTEX department as duly referred by LW.
YES, you are correct. That’s why OTEX World Corporation has “back stops” in place to prevent such abuse, like;
The Exam paper will be periodically and regularly changed.
The ECM has a moral duty, to train their CMs BUT NOT assist their CMs in the examination room, nor copy the answers from prior successful examinations and circulate them. That ECM is not only cheating him/herself as they would end up with a team that doesn’t know the OTEX Business, but the ECM would be risking termination and removal. The COE states, that upon mere suspicion alone, ECMs, and their Practice Number, can be suspended, pending a formal investigation.
If the ECM is later found guilty, after he/she has been given his/her right to be heard (Due Process), he can be terminated from OTEX for life. Cheaters and Wrongdoers are unwanted by OTEX.
The CM examinee, when attempting the ECM examination, must first provide a formal declaration stating that he/she is answering the Examination on his/her own, and without any help from any third party. On mere suspicion alone, if it is later discovered that the CM examinee breached his/her own declaration, all that was granted him as an ECM, shall be suspended, pending a formal investigation. Should that CM examinee be later found guilty, following Due Process, of providing a false declaration, his/her ECM membership shall be reversed returning him back to CM status, and he/she shall be barred from re-attempting the ECM examination for 6 MONTHS.
The OTEX Legal Affairs and Compliance Team (LACT), via Legal Watch, or the OTEX Support Team will accept anonymous complaints from anyone who can point out suspect offenders that abuse the Examination Process. The LACT (which is made up of trained Lawyers and former Police Officers), shall not waste time to flush out the wrongdoers and cheaters who make things worse for the OTEX World majority of decent and law abiding CMs.
PLEASE NOTE: that OTEX World reserves the right to add, subtract or change these FAQs in time to come. Amendments, additions, etc. shall be duly promulgated with proper notice on when they take effect.