These Terms of Business for Intermediaries are issued by Deutsche Asset Management (UK) Limited or any Group Company (each a “DWS Entity”) in its capacity as a distributor of DWS Products. These Terms set out the basis upon which a DWS Entity permits an Intermediary to make a DWS Product available to the Intermediary’s Client. An Intermediary who: makes a DWS Product available to its Clients; introduces a Client to a DWS Product or otherwise submits business to a DWS Product Issuer on a Client’s behalf; or accepts a payment from a DWS Entity in relation to a DWS Product (whether for historic or new business and where permitted by applicable laws and rules), shall by such actions be deemed to have accepted these Terms.