Investments in bonds and shares are connected with certain risks, thus before making a decision on investment, the investors must thoroughly study and analyz the potential risks related to investment.

• Liquidity risk, which may arise as a result of a sharp change in the market situation or a deterioration in the financial condition of the bond issuer, as a result of which the bonds may lose their attractiveness, leading to a decline in their price. The investor may not be able to sell the bonds without significant losses or may not be able to sell them at all due to the low liquidity of the bonds in the given market situation.
• Foreign currency risk, which may occur as a result of sharp fluctuations of the exchange rate and lead to possible losses.
• Interest risk, which may occur due to sharp fluctuations of interest rates in the market.
• Authority risk of the issuer, which has a direct impact on attractiveness and price of bonds.
• Credit/Default risk: It may occur as a result of full or partial fulfillment of obligations by the issuer of bonds.
• Rating change risk: All other things being equal, the price of a bond is usually directly dependent on the rating(s) describing the credit risk of the bond issuer. A rating downgrade usually results in a decline in the price of the bond or, equivalently, expectations of an increase in the bond's yield are formed.
• Other risks: The list of the risks mentioned above is not exhaustive. The investment activities may be also accompanied with other risks.

• Liquidity risk, which may arise as a result of a sharp change in the market situation or a deterioration in the financial condition of the issuer, as a result of which the shares may lose their attractiveness, leading to a decline in their price. The investor may not be able to sell the shares without significant losses or may not be able to sell them at all due to the low liquidity of the shares in the given market situation.
• Foreign currency risk, which may occur as a result of sharp fluctuations of the exchange rate, which may significantly affect both the Issuer and the securities market. Since shares in Armenia are quoted and paid in AMD, these shares contain significant foreign exchange risks for investors whose financial flows are in other currencies.
• Interest risk, which may be a consequence of sharp changes in interest rates availbe in the market, which as an alternative investment direction, indirectly affects the prices of shares.
• Equity price risk is the risk of an investor suffering financial losses as a result of adverse changes in market prices.
• Authority risk of the issuer, which has a direct impact on the attraction and price of shares.
• Credit/Default risk: It may occur as a result of full or partial fulfillment of obligations by the issuer of shares.
• Rating change risk: All other things being equal, the price of a bond is usually directly dependent on the rating(s) describing the credit risk of the issuer of shares. A rating downgrade usually results in a decline in the price of the share.
• Other risks: The list of the risks mentioned above is not exhaustive. The investment activities may be also accompanied with other risks.

• “ARMECONOMBANK” OJSC does not insure the investor against unfavorable fluctuations of the prices in the market.
• Attention! In case of execution of transaction in compliance with the conditions stipulated in the Application submitted by the Customer, the CUSTOMER BEARS THE RISK of investment in securities. “ARMECONOMBANK” OJSC WILL NOT REIMBURSE the customer’s losses if they aren’t caused as a result of “ARMECONOMBANK” OJSC’s unscrupulous behavior.
• Investments in securities aren’t guaranteed by Deposit Guarantee Fund, with the exceptions of bonds issued by the Bank, which are acquired by individuals in accordance with the RA Law on ‘’Guaranteeing the Remuneration of Banking Deposits of Individuals’’

The Bank, while making transactions in securities market, operates impartially, honestly, punctually and under the principle of mandatory disclosure to the customers on transactions with the customers' securities and monetary funds. While implementing the customers' orders, the Bank acts based solely on the customer's interest protection. The following measures are undertaken by the Bank for the prevention of interest clashes:

Every investor has an opportunity to purchase/sell bonds in the primary market with the help of the Bank (in "NASDAQ OMX ARMENIA" OJSC or in the non-regulated market), in case of availability of commission fees to be charged and sufficient amounts on the customer’s account at the Bank, unless otherwise set by the Agreement.

• In case the customers (investors) submit an application to purchase bonds of the same issue at the same price and the application is satisfied partially, the Bank satisfies the customer’s applications based on chronological principle ( the application submission time is mentioned in the investor’s application), the priority is given to the applications submitted earlier.
• In case customer (investor) submit an application to purchase/sell bonds of the same issue at the same price and the application is satisfied partially, the Bank satisfies the customer’s applications proportionally
• In case the investor and the Bank submit an application to purchase/sell bonds of the same issue at the same time and price, and the application has been satisfied partially, the Bank gives priority to the investor's application.
• In case of purchase and / or sale of bonds of the same issue  at a similar price by different investors, the Bank may submit the applications in a single application form and in case of transaction execution, the applications are considered satisfied in accordance with chronological principle.
• If opposite applications are submitted, then in case of applications at the same price, the Bank makes a transaction outside the regulated market by notifying the investors in advance, with the exception of security transactions which should be executed in regulated market.