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Terms & Conditions
TERMS OF USE:
The following should be read carefully and accepted prior to
becoming a Constituent for offline and online trading i.e. for
trading availing the facilities and/or any information, or any
part thereof, as the case may be, as may be made available from
time to time on the Web-Site and/or entering into any securities
dealings through the agency of Trade Anywhere whether by use of
any of the facilities available on the Web-Site, or by any other
means whatsoever. Please read the following, which contains
important information concerning use of the Web Site. The use of
the Web Site is conditional upon and subject to, acceptance of and
compliance with, the Terms. And whereas for offline the
Constituent can avail the facilities subject to acceptance of and
compliance with the terms contained herein.
I. PRELIMINARY I.i Ownership of the Web-Site (a) Sanchit Financial & Management Services Ltd.
being a broker registered with the Securities
and Exchange Board of having obtained Certificate of SEBI Reg. No.
BSE Cash: INB-010803931 | NSE Cash: INB-230803938 | NSE
Derivatives:INF-230803938 thereby being entitled to effect
purchase and sale transactions of securities (hereinafter referred
to as the “Securities Dealings”) offline and online
I.ii Registration for use of the Facilities and Services (a) Any
person visiting the Web Site may access and use the Facilities by
establishing an online persona with a unique 'Client ID' and
'Password', in the manner as indicated on the Web-Site.
“Facilities” shall mean and include any information, materials,
documents, chat-room facilities, downloads (software or
otherwise), data, stock market quotation ticker tape facilities,
and all other information and utilities contained or accessible on
or through the Web Site as may be provided on the Web Site from
time to time, [other than any information directly required in
relation to the Services].
(b) Only persons who enter into an agreement with the Member and
who have been provided with a unique Trading Password for online
trading and unique Client Code for offline trading by the Member
in the manner as indicated on the Web-Site for online trading and
give exact code for offline trading respectfully shall be entitled
to avail the Services provided by the Member. (c) The Terms shall
be deemed to form part of the Member-Constituent Agreement and
shall be deemed to be incorporated therein to the same extent as
if these provisions had been set forth in full therein. The
Constituent's entitlement to avail the Services or any part
thereof shall be subject to compliance with all the terms and
conditions set forth herein.
II CONDITIONS OF USE OF THE SERVICES II.i Subject Matter of the
Services The Services offered by the Member include the sale and
purchase of dematerialised securities trading (in e-trading
account on the internet and also in off-line trading and delivery
of shares in physical mode wherever the same is traded on off-line
on specific direction received by the 'Member' at any of their
terminals) in the cash/normal segment of the market [and shall
include trading in derivative products or in the carry forward
segment, and such other services/ products as may be permitted
from time to time].
II.ii Order Entry (a) The Constituent shall be entitled to place
an order for the sale or purchase of any Admitted Security at any
time, regardless of the duration of the trading hours of the
Exchage, through e-mail, writing, telephonic placement by the
Constituent or his duly authorised representatives whose
particulars has been provided by the Constituent to the member and
on receipt of such instructions those orders shall be forwarded
for the execution.
(b) All orders entered by Constituent, either electronically or
otherwise as detailed above, are based upon their investment
decisions and their sole responsibility and will not hold, nor
seek to hold the Member or any of its officers, directors,
employees, agents, subsidiaries or affiliates, liable for any
trading losses or other losses incurred by Constituent, including
in the event that any order is placed by the Constituent on the
basis of the Facilities or any information (including any
investment information, advice, research reports, or any other
information) that may be made available on the Web-Site.
(c) The Member shall be deemed to not have received any order
whether electronically transmitted or otherwise until it has
confirmed the receipt of such order as mentioned in sub-clause
II.ii (a).
(d) The Constituent agrees that placing an order with the Member,
either electronically or otherwise, does not guarantee execution
of the order, regardless of the confirmation by the Member of the
receipt of the order and/or its execution and the Member shall not
be liable for any losses, damage or claims on account of the
non-execution of any order placed.
(e) The Constituent hereby accepts all responsibility for knowing
the status of all corporate benefits like rights and bonus issues,
dividends and stock splits of shares he/she/it intends to trade in
or held in his/her/its account. The Constituent further accepts
all responsibility for knowing the correct ISIN numbers of the
shares in his/her/its account and the eligibility of the shares to
meet share pay in obligations to the NSE/BSE whether received by
way of purchases, rights, bonuses, stock splits, off market
transfers or otherwise.
(f) Prior to placing an order in connection with the sale/purchase
or transfer of any securities in which Constituent requires any
form of regulatory or other permission, the Constituent must
advise the Member of the status of the securities and furnish
necessary documents including opinions of legal counsel prior to
the execution of the order. The Constituent acknowledges and
accepts that delays may occur in relation to the processing of
such orders, despite the necessary documents being furnished in a
timely manner. The Member may at its sole discretion refuse to
execute any such order till it is satisfied of the legality of the
transaction. The Constituent is responsible for all costs
associated with compliance or failure to comply with all the
regulatory requirements and hereby agrees to fully indemnify the
Member from any costs, losses, claims or other liability arising
on account of such orders.
II.iii Order Execution (a) In the event that the order is placed
during the trading hours of the NSE/BSE, it shall be routed to and
executed on the market system. However, in the event that the
order is placed at any other time, the order shall be routed to
and executed during the next succeeding trading session of the NSE/BSE.
(b) The Constituent agrees and appoints the Member as its agent to
take all necessary measures to complete the transactions and
hereby authorises the Member to make any and all advances and
expend monies as may be required.
(c) The Constituent acknowledges that whilst orders are normally
routed through the market systems almost simultaneously with the
placing of the order, the Constituent is aware that the Member has
provided on the Web-Site a facility for reconfirmation of orders
which are larger than those specified by the Member's risk
management policy and is also aware that the Member has the
discretion to reject the execution of such orders based on such
risk management policy. The Member shall not be liable for any
delay or cancellation of any order due to the exercise of the
Member's discretion under such policy.
(d) The Constituent acknowledges and accepts that the Member has
the sole discretion to reject or cancel any order that may be
placed by the Constituent for any reason whatsoever, including for
any breach of the Margin requirements as stipulated hereunder in
Paragraph II.vi and the Member shall not be liable for any losses,
damage or claims on account of such rejection or cancellation as
the case may be.
(e) The Constituent acknowledges and accepts that the NSE/BSE may
reject or cancel any trade suo moto without ascribing any reasons
therefor and the Member shall not be liable for any losses, damage
or claims on account of such rejection or cancellation as the case
may be.
(f) The Constituent further acknowledges and accepts that it will
receive the price at which the order was actually executed in the
marketplace, which may be different from the price at which the
security was traded when the order was entered into the Member's
system.
(g) The Constituent hereby agrees that Member shall not be
responsible or liable for the execution of any order that may have
been placed by the Constituent or any unauthorised use of the
Constituent's Trading Password by any person.
(h) The cancellations or modifications to orders placed is not
guaranteed. Cancellation of orders is possible only if the
original order remains pending at the NSE/BSE. The cancellation or
modification of an order shall be deemed not to have been executed
unless a confirmation to such effect is received from the Member.
The Constituent agrees that the Member shall not be liable for any
losses, damage or claims on account of the non-execution or
delayed execution of an order of cancellation or modification.
Unless otherwise specified by the Member, any order not executed
at the end of the relevant NSE/BSE trading day shall stand
cancelled. To remove any doubt, it is hereby clarified that an
order placed prior to or during the trading day at the NSE/BSE,
shall not remain valid for execution at any subsequent trading day
at the NSE/BSE.
(i) The Constituent also accepts responsibility for knowing the
trading and settlement cycles of the NSE/BSE and the settlements
pay in/pay out dates for funds and securities and in the event any
trades or transactions are reported late to the Member on account
of any problems at the Exchange or for whatever reason, the
Constituent in turn will be subject to late reporting of
transactions.
(j) Any errors reported to the Constituent for any reason
whatsoever will stand subsequently corrected to reflect the
transaction that was effected in the market and the Constituent
agrees that the Member shall not be liable for any damage, loss or
claim in account of such error or correction thereof.
II.iv Purchase of the Admitted Securities (a) Prior to placing any
order for the purchase of any Admitted Security, the Constituent
shall ensure that sufficient cash credit balance is available in
its account with the Member. The Constituent is responsible for
all of their orders, including any orders, which exceed the
available cash, credit balances available to its account and are
executed by the Member, inadvertently or otherwise.
(b) Any order accepted and executed, inadvertently or otherwise,
without sufficient cash credit balance will be subject to
cancellation or liquidation at the Member's discretion, unless the
Constituent immediately, upon demand by the Member, makes good the
shortfall in the amount as indicated by the Member.
(c) The date for payment in the case of purchase of securities by
the Constituent will be viewed on the day to day basis by the
member and the same shall be intimated by the member to the
Constituent either telephonically or otherwise as required for
maintaining the account of outstanding as per NSE/BSE rules and
the Constituent shall within two days make up the deficiency of
balance and bring it to cash credit with the reasonable margin to
withstand his future transactions within the 'margin' limit
provided herein after on the date intimated by the Member to the
Constituent for the same (the “Intimated Date”) and which may be a
date which is at least [two] working days in advance of the pay in
date of the NSE/BSE. In the case where the payment is not made by
the Intimated Date, the securities purchased by the Member on
behalf of the Constituent shall be liable to be sold without any
further reference to the Constituent and any loss or damage as a
result of such sale would be borne solely by the Constituent.
II.v Sale of the Admitted Securities (a) Prior to placing any
order for the sale of any Admitted Security, the Constituent shall
ensure that the concerned security is available in sufficient
quantity in its/his/her account with the Member. The Constituent
is responsible for all of their orders, including any orders,
which exceed the available quantity of the relevant security and
are executed by the Member, inadvertently or otherwise.
(b) The Constituent agrees and hereby authorises the Member to
block as sold the relevant securities, as standing to its/his/her
account, against its/his/her order to sell securities. If
its/his/her order gets executed either fully or partially then the
securities to the extent sold, would be unblocked on the trade
date and the transaction would be effected. The Constituent agrees
that it/he/she shall not withdraw/pledge or otherwise use or
attempt to withdraw/pledge or otherwise use, the blocked
securities. The Constituent hereby authorises the Member to
dishonour any orders issued against the blocked security.
(c) The Constituent acknowledges and agrees that the proceeds of
the sale will not be credited to the cash credit balance account
of the Constituent until the securities have been delivered to the
NSE/BSE/clearing house and pay out is received from the NSE/BSE/clearing
House. The proceeds of all sales will be credited, to the cash
credit balances account of the Constituent as maintained by the
Member, directly after settlement date.
(d) If the securities are not received on or before the settlement
date or securities received are not in deliverable state or due to
any other reason whatsoever, the Constituent is not able to
deliver securities, the securities will be auctioned or closed out
as per the rules of the NSE/BSE. Consequently, the Constituent
will be responsible for any resulting losses and all associated
costs including any penalty levied by the NSE/BSE.
II.vi Margins (a) The Constituent shall maintain such quantity of
securities and such amount of cash credit balances (hereinafter
referred to as the “Margin”) as required by the applicable
statutes, rules, regulations, procedures or as deemed necessary or
advisable by the Member, provided that the Margin shall not at any
time be less than [20%] of the price of the Admitted Securities
proposed to be purchased or sold. The Constituent agrees that no
interest shall be payable on the Margin as maintained with the
Member. The Constituent shall be permitted to trade upto a
predetermined number of times of the Margin and the quantum of
such multiple shall be determined at the sole discretion of the
Member.
(b) The margin requirement and squaring up process for offline and
online trading is different, the margin in online account will not
be considered in the offline account and vice-versa unless
specifically directed by Constituent. The accounting process for
both accounts is different and is independent of each other.
(c) In case there is any change in policy relating to Risk
Management pertaining to margin requirement and squaring up
process the same would be reflected to the user and at the
registered office and terminals of the member and the onus is on
the the Constituent to keep check, understand, and agree with the
Risk Management policy pertaining to margin requirement and
squaring up process from time to time.
(d) The Constituent shall also remain in touch with the member to
keep a regular check on his account and margin requirements, for
maintaining sufficient margin with the member to undertake any
transaction in his a/c in off line and online trading. If the
Member considers it necessary for its own protection, it may
require the Constituent to immediately on demand deposit cash or
securities to their account prior to any applicable settlement
date in order to assure due performance of their open contractual
commitments. If Constituent does not provide such additional cash
or securities, the Constituent hereby grants to the Member the
right to sell any or all securities extant in their account, buy
any or all relevant securities which may be short in their
account, cancel any or all open orders and/or close any or all
outstanding contracts.
(e) In addition, Constituent acknowledges and agrees that the
Member may exercise any or all of the above rights, prior to or
without any demand, for additional cash or securities, or notice
of sale or purchase, or other notice or intimation. Any such sales
or purchases may be made at any time at the sole discretion of the
Member on any market where such business is usually transacted, or
at public auction or private sale, or the Member may purchase/sell
for its own account. The making/giving of any prior demand or call
or notice of the time and place of such sale or purchase shall not
be considered as a waiver of any rights of the Member to sell or
buy without any such demand, call or notice, at that time or at
any time subsequently.
(f) In addition to the above, if the Constituent does not credit
its cash or securities account as maintained with the Member, to
make up any shortfall in the Margin, instantaneously, to enable
restoration of the Margin in Constituent's account, the position
of the Constituent may be squared off by the Member, without any
further reference to the Constituent and without prior
notification, and any resultant or associated losses that may
occur due to such squaring off shall be borne by the Constituent,
and the Member is hereby fully indemnified and held harmless by
the Constituent in this behalf.
In case where the payment by the Constituent towards the Margin is
made through a cheque issued in favour of the Member, any trade
would be executed by the Member only upon the realisation of the
funds of the said cheque.
II.vii Confirmations and Contract Notes (a) The Constituent is
required to ascertain the status of its/his/her order (including
any rejection of the same) which would be posted on the relevant
sections of the Web-Site or the Constituent 1may enquire the
balance as maintained by member or the member shall keep sending
the details of contract notes and the status of his account on
fortnight basis wherever the Constituent is availing the services
of the member”off-line'from any terminals of the member.
(b) Constituent understands that it is its/his/her responsibility
to review, upon first receipt, whether delivered to Constituent by
mail, by e-mail, or other electronic means, all confirmations,
statements, notices and other communications, including but not
limited to, margin, maintenance calls, and prospectuses. Notices
and other communications may also be provided to Constituent
verbally, in writing or by other means.
(c) The Member shall deliver to the Constituent via email or other
electronic means or otherwise a contract note of the trades
executed on their behalf on the trade date, or should post such
information on the website, within 24 hours of the execution of
the order. The contract note shall be final and binding proof of
the order placed by the Constituent and confirmation of trade,
regardless of any apparent or inadvertent errors.
(d) All information contained in any confirmation, contract note
or other communications shall be binding upon the Constituent in
relation to all trades/transactions, whether the orders are given
by the Constituent through the Web-Site or by telephonic means or
otherwise.
II.viii Charges (a) The Constituent agrees to pay the brokerage
charges, NSE/BSE related charges, statutory charges/taxes and any
other charges (including but not limited to security handling
charges on settlement) as they exist from time to time and as they
apply to the Constituent's account, in respect of
trades/transactions and services that the Constituent receives
from the Member. The brokerage shall be paid in the manner
intimated by the Member to the Constituent from time to time,
including as a percentage of the value of the trade or as a flat
fee or otherwise, together with the service tax/securities
transaction tax as may be applicable from time to time on the
same. The Constituent further agrees to pay any applicable taxes
that may be levied on the transaction.
(b) The Member shall debit the charges of the depository
participant for the trades and the bank charges for the
realisation of cheques etc. to the Constituent account.
(c) Notwithstanding anything contained in these Terms, any amounts
which are overdue from the Constituent to the Member will be
charged delayed payment charges at the rate of [2%] per month or
such other rate as may be determined by the Member and notified on
the web site and the Constituent hereby authorises the Member to
directly debit the same to the account of the Constituent.
II.ix Constituents Cash Credit and Securities Accounts (a) The
Member shall maintain such books of account in such manner so as
to show and distinguish in connection with its business as a
trading member broker the moneys and securities received from or
on account of each of the Constituents, and the moneys and
securities received on its own account.
(b) The Constituent is required to ascertain all ledger balances
of moneys and securities standing to its credit, which would be
posted only on the relevant sections of the web site, and no
separate intimation of the ledger balances of the Constituent in
his account would be sent to the Constituent either physically or
electronically unless specifically requested in writing by the
Constituent. The information as contained in the ledger balances
shall be binding upon the Constituent and the Constituent hereby
agrees that the Member shall not be liable for any loss, damage or
claim on account of any error in the information contained in the
ledger balances.
(c) All payments in respect of transaction made by the Constituent
to the company shall be payable at Mumbai or such other places as
may be instructed by the Member, drafts and cheques in that behalf
shall be drawn in favour of the company and shall be payable at
Mumbai or such other places as may be instructed by the member
from time to time. Final settlement of outstanding account in
respect of transactions between the Member and Constituent and
periodical settlement and termination of contract shall be struck
and finalised at the company Head Office at Mumbai.
(d) The Constituent hereby authorises and empowers members to
adjust all the debts/credits (funds/stocks) resulting from trading
transactions in any of the following segment of NSE/BSE vis-à-vis
F&O, Equity, Depository with any cash segment (equity) account and
vice-versa in order to discharge any financial
liability/obligation towards in any segment.
(e) That the Constituent authorises the trading member to maintain
a running account for me/us/we for adjustment of any debit/credit
resulting from any transactions by it/him/her in one settlement
for adjustment towards it/her/his credit/debit in subsequent
settlements.
(f) All transactions with The Stock Exchange, Mumbai (BSE) and/or
the National Stock Exchange of India Limited (NSE/BSE) will be
subject to the rules, regulations and Bye-laws of that Exchange
apart from the existing terms and conditions as mentioned thereof.
(g) To avoid any ambiguity it is hereby provided that
notwithstanding anything contained in these Terms or in the
Member-Constituent Agreement or any other understanding or
agreement between the Member and Constituent, the Member's own
records of the orders, cancellations, modifications, trades and
transactions, in whatsoever manner maintained shall be deemed to
be and is hereby accepted by the Constituent as conclusive and
binding on the Constituent for all purposes and further the
Constituent shall not challenge the accuracy, truth, or
correctness of the said records in any manner and for any purpose
whatsoever.
II.xi Further Documentation The Constituent agrees to complete any
further documentation that may be required in relation to any of
the securities dealings or by any of the regulatory authorities or
under the Member's policies as may be notified from time to time
or under any law, regulation, guideline, rule, byelaw, order or
other edict having the force of law.
II.xii Compliance with Laws All transactions that are carried out
by and on behalf of the Constituent shall be subject to Government
notifications, the rules, regulations and guidelines issued by
SEBI, the Reserve Bank of India and the National Securities
Depository Limited, the Central Depository Services Limited, the
Securities Contracts Regulation Act and the rules made there
under, and the byelaws, constitution, rules, regulations, customs
and usage of the NSE/BSE, if any.
III. ADDITIONAL CONDITIONS IN RELATION TO ELECTRONIC ORDERS III.i
List of Dematerialised Securities The Member shall notify the
securities for which this facility is made available from time to
time on the Web Site. The Member would have the right to add or
delete securities for which the facility is made available in its
absolute discretion and details of the same would be posted on the
Web Site and no separate intimation whatsoever thereof will be
sent to the Constituent.
III.ii Protection of Constituent's Trading Password The
Constituent shall immediately notify the Member in writing,
delivered via e-mail, Speed Post and Registered AD, if the
Constituent becomes aware of any loss, theft or unauthorised use
of the Constituent's Trading Password and account number; or any
failure by the Constituent to receive an accurate written
confirmation of an execution including the contract note for the
same; or any receipt by the Constituent of confirmation of an
order and/or execution which the Constituent did not place; or any
inaccurate information in the Constituent's account balances,
securities positions, or transaction history. In the case where
the Constituent notifies such loss, theft or unauthorised use of
the Constituent's Trading Password to the Member, the Member shall
suspend the use of the account of the Constituent. However, the
Constituent shall be responsible and liable for all transactions
that are carried out by the use of the Constituent Trading
Password. When any of the above circumstances occur, neither the
Member nor any of its officers, directors, employees, agents,
affiliates or subsidiaries will have any responsibility or
liability to the Constituent or to any other person whose claim
may arise through the Constituent with respect to any of the
circumstances described above.
III.iii Use of Constituent's Trading Password The Constituent
confirms and agrees that it will be the sole authorised user of
the Trading Password /s to be given to it by the Member. The
Constituent accepts sole responsibility for use, confidentiality
and protection of the Trading Password /s as well as for all
orders and information changes entered into the Constituent's
account using such Trading Password. The Constituent shall ensure
that the Trading Password /s is/are not revealed to any third
party or recorded in any written or electronic form. If the
Constituent forgets the Trading Password, a request for change of
the Trading Password should be sent to the Member in writing. On
receipt of such a request the Member shall discontinue the use of
the old Trading Password and shall generate a new Trading Password
for the Constituent, which shall be communicated to the
Constituent. However, the Constituent shall be responsible and
liable for all transactions that are carried out by the use of the
old Trading Password. Neither the Member nor any of its officers
directors employees agents affiliates or subsidiaries will have
any responsibility or liability to the In addition, the
Constituent hereby grants to TradeAnywhere the right to with-hold
its/he/her securities payment and/or funds pay-out from the stock
exchange in part or full.
Constituent or to any other person whose claim may arise through
the Constituent with respect to any of the circumstances described
above.
III.iv Form of Trading Password The Constituent shall use a
Trading Password of 6-8 characters in length, which is a
combination of letters and numbers. The Trading Password shall not
be a combination relating to name or age or other personal
information, which would render it easily deducible. The Trading
Password shall be valid for a period of one month only. In the
case where the Constituent wishes to change his Trading Password
he can do so on the Web Site in the prescribed manner.
III.v Recording of Trading Password The Constituent shall memorise
the Trading Password and not record it in written or electronic
form. In the event that the Constituent does record the Trading
Password in written or electronic form, he/she/it shall do so at
his/her/its sole risk and responsibility.
III.vi Responsibility for Use of the Trading Password Any order
entered using the Trading Password is deemed to be that of the
Constituent. If third parties gain access to the Member's services
through the use of the Trading Password, the Constituent will be
deemed to be responsible for the same and hereby indemnifies and
holds harmless the Member against any liability, costs or damages
arising out of claims or suits by or against such third parties
based upon or relating to such access and use, since the primary
responsibility for such transaction shall be that of the
Constituent.
III.vii Communications Equipment of the Constituent The
Constituent is responsible for installing and maintaining the
communications equipment (including personal computers and modems)
and telephone or alternative services required at the
Constituent's end and connectivity required for accessing and
using the web site or related services. All communications service
charges, levies and fees incurred by the Constituent in accessing
the web site or related services will be borne by the Constituent.
III.viii Constituent's Infrastructure For the purposes of these
Terms, it is presumed that the Constituent has all the necessary
and compatible infrastructure ready at its end for the purpose of
accessing the web site of the Member prior to accessing the
services provided pursuant to these Terms. The Member will not
(and shall not be under any obligation to) assist the Constituent
in installing the required infrastructure or obtaining the
necessary equipment permits and clearances to establish
connectivity or linkages to the web site of the Member.
III.ix Prevention of Unauthorised Use The Constituent will install
the necessary safeguards and access restrictions to prevent
unauthorised use of Constituents computer systems and ensure that
no unauthorised person can gain access to the computer systems.
IV. ADDITIONAL CONDITIONS IN RELATION TO ORAL ORDERS ON-LINE AND
OFF-LINE (a) The Constituent agrees and hereby authorises the
Member at its sole discretion and without any prior notice to the
Constituent, to record any conversation between the Constituent
and the Member. Such recording shall be deemed to be and is hereby
accepted by the Constituent as conclusive and binding on the
Constituent for all purposes and further the Constituent shall not
challenge the accuracy, truth, or correctness of the said records
in any manner and for any purpose whatsoever.
(b) The Constituent hereby agrees that the Member shall not be
liable for any losses, damage or claim on account of transactions
effected by the Member on behalf of the Constituent arising from
any incorrect or erroneous transfer or collection of the order
instructions from the Constituent.
V. MEMBER CONSTITUENT COMMUNICATIONS V.i Form of Communication
Documents, which may be sent by electronic delivery between the
parties, may be in any of the following manners (a) an electronic
mail ('e-mail') including any automated replies from the system of
the Member, (b) an electronic mail attachment, or (c) in the form
of an available download from the web site. (d) by telephonic
information duly recorded. (e) by courier containing details of
transaction confirmations, account statements requisition of any
delivery related documents on the last known address of the
Constituent.
V.ii Change of Address Unless the Constituent informs the Member
of the change of the address for communication in writing, all
notices, circulars, communication or mail sent to the existing
address shall be deemed to have been received by the Constituent
irrespective of whether they are actually received or not.
V.iii Notices/ Policies Certain policies and/or procedures may be
further outlined on the Member's web site and material/literature
and frequently asked questions (FAQ's) may be provided to the
Constituent.
Through the use of the Member's web site and services, the
Constituent agrees to be bound by any and all such notices,
policies and terms of doing business.
VI. TERMINATION (a) The Member-Constituent Agreement and access to
the use of the Web-Site, the Services, the Facilities and the
Content may upon notice of one month be terminated by mutual
consent of the Constituent and the Member.
(b) The termination of the Member-Constituent Agreement and access
to the use of the Web-Site, the Services, the Facilities and the
Content will not affect the rights and/or obligations of either
the Member or the Constituent incurred prior to the date of such
termination and the parties shall enjoy the same rights and shall
have the same obligations in respect of such transactions.
VII. MISCELLANEOUS INFORMATION VII.i Facilities and Web Content
(a) The Constituent acknowledges and agrees that each
participating stock exchange or association or agency asserts a
proprietary interest in all of the market data it furnishes to
parties that disseminate the said data. The Constituent shall use
real-time quotes received on the web site of the Member only for
the Constituent's individual use and shall not furnish such data
to any other person or entity. The Constituent is authorised to
use materials which are made available by the Member's web site
for the Constituent's own needs only, and the Constituent is not
authorised to resell access to any such materials or to make
copies of any such materials for sale or use to and by others. The
Constituent shall not delete copyright or other intellectual
property rights notices from printouts of electronically accessed
materials from the Member's web site.
(b) All materials published on the Web-Site, including, without
limitation, information, text, photographs, images, graphics,
software, audio, and video and/or other visual reproductions
(hereinafter referred to as the “Content”) are intended solely for
personal, non-commercial use. All rights pertaining to the Content
or any part thereof shall vest only in the relevant owners of the
same and no other person may modify, publish, transmit,
participate in the transfer or sale of, reproduce (except as
provided herein), create derivative works from, distribute,
perform, display or in any way exploit, any of the Content, in
whole or in part.
(c) All Content is owned or controlled by or the party credited as
the provider of such Content. The Content, and the entire
Web-Site, including without limitation all materials published by
and all postings on the Web-Site may be protected by copyright
pursuant to Indian copyright laws, international conventions, and
other copyright laws. Sanchit Financial & Management Services Ltd. owns a
copyright in the selection, coordination, arrangement and
enhancement of such Content, as well as in the original component
of the Content itself. All persons visiting and/or using any of
the Facilities on the Web-Site or viewing any of the Content
thereof (hereinafter such person shall be referred to as the
“Visitor”, which term shall mean and include the Constituent in
relation to any use of the Facilities and Content) shall abide by
all copyright notices, conventions, and other copyright laws. The
Visitor shall abide by all copyright notices, information or
restrictions contained in any
Content accessed by or through the Web-Site. Reproduction of the
Web-Site site, in whole or in part, without the prior written
permission of is strictly prohibited.
(d) To the extent that any part of the Content may be downloaded
or copied, the same may be done only for personal non-commercial
purpose(s) and use(s), and provided that all copyright and other
notices contained in such Content are faithfully maintained and
the Content shall not be stored in any media other than in the
Visitor's personal computer. In the event any software is
downloaded from the Web-Site, such software, including without
limitation any files, images incorporated in or generated by the
software, and data accompanying the software, are licensed to the
Visitor by for personal, non-commercial use and viewing only. The
software may not be redistributed, sold, decompliled, reverse
engineered or otherwise reduced to a human perceivable form.
Sanchit Financial & Management Services Ltd. retains full and complete title and
rights to all intellectual property in Web Site.
(e) Sanchit Financial & Management Services Ltd. shall not be liable for
truth, accuracy or completeness of the information or for any
errors, mistakes or omissions therein or for any delays or
interruptions of such information for whatever cause. It is
expressly understood and agreed to by the Visitor that except as
specifically provided herein, all warranties, express or implied,
including any implied warranties or merchantability and/or fitness
for a particular purpose, are hereby excluded.
VII.ii Third Party Providers/Links The Web Site may contain links
to other web sites on the World Wide Web. Sanchit Financial &
Management Services Ltd. is not responsible for their resources or their content or
the availability thereof.
VII.iii Submissions (a) The Visitor shall remain solely
responsible for all submissions on and to the Web Site. Sanchit
Financial & Management Services Ltd. is not responsible for the content or
message of any submissions. The member does not guarantee, and
makes no formal representation or warranty as to, the accuracy,
veracity or completeness of any information provided by others in
any portion or page of the Web-Site, nor does Sanchit Financial &
Management Services Ltd. necessarily endorse, support, sanction,
encourage, verify, agree with, or reject, diminish or disagree
with, the comments, opinions or statements posted by others on the
Web-Site.
(b) While does not and cannot review every message posted or item
submitted to/on the Web-Site, Sanchit Financial & Management Services Ltd.
reserves the right, in its sole discretion, but assumes no duty,
to delete, move, or edit submissions that it deems false,
inappropriate, abusive, defamatory, obscene, in violation of
copyright or trademark laws, or otherwise unacceptable, and the
Visitor expressly acknowledges and accepts that its submissions
may be edited, removed, modified, published, re-published,
transmitted and displayed by in its sole discretion.
(c) The Web Site and its Facilities including the discussion
groups and chat rooms shall be used only in a non-commercial
manner. No part of the Web Site, discussion groups and/or chat
rooms shall be used to solicit Visitors to become users of
commercial online information services or for any other commercial
services. The Visitor shall not disrupt or interfere with any
aspect or element of the Web Site nor shall the Visitor do
anything, which, in the sole judgment of , will restrict or
inhibit any other Visitor from using and enjoying the Web Site
and/or any of its Facilities. The Visitor shall not, without the
express written approval of , post or otherwise distribute any
material containing any solicitation of funds, advertising or
solicitation for goods or services. The Visitor shall not copy
third party articles into the chat rooms or discussion groups
available on the Web Site. No Visitor shall tout or hype a stock
or company, or post the same note on multiple occasions in a
single day (a practice known as 'spamming'). The Visitor shall not
upload to, or otherwise submit or publish through, the Web-Site
any content or material which is libelous, defamatory, obscene,
pornographic, abusive, or hateful, or which invades anyone's
privacy, encourages conduct that would constitute a criminal
offense, or otherwise violates any third party rights or local,
state, federal or international law or regulation.
(d) Those Visitors with formal connections or affiliations to or
with a company being discussed in any forum, including among other
things any and all positions of employment, directorships,
consultancies and/or substantial share holdings, must identify
themselves as such, and disclose such connection or affiliation,
within their first post in that topic, company focus, or subject
matter.
(e) The author or creator of any and all submissions in print or
other forms or other uploads to the discussion groups and/or chat
rooms, transfers and assigns to , by virtue of submission to the
Web-Site and this agreement, the entire copyright, throughout the
universe, in any and all media and forms of publication,
reproduction, transmission, distribution, performance, or display,
The provisions of this agreement shall always be subject to
government notifications, and rules, regulations & guidelines
issued by SEBI & stock exchange rules, regulations & bye-laws that
may be in force from time to time & the securities contract
regulation Act. The Rules thereunder and any other applicable
statutory provisions and/or regulations.
Now in existence or hereafter developed, in such work or other
original materials; without separate, retained or reversionary
rights being held by such author, creator or other person
submitting such work. Sanchit Financial & Management Services Ltd. may
exercise the rights granted herein in such from as it may in its
sole discretion determine; such that the submitted material may be
published, reproduced, reprinted, distributed, performed,
displayed, included in anthologies and compilations, and/or
otherwise transmitted (including but not limited to electronic and
optical versions and in any other media now in existence or
hereafter developed) in whole or in part, whether or not combined
with the work of others. In addition, Sanchit Financial &
Management Services Ltd. may use the name and electronic address of the author,
creator and/or other person submitting the work in publishing,
promoting, advertising, and publicizing their publications and
information products and services, and in any merchandising.
VII.iv Warranties of Constituent (a) The Constituent hereby
represents and warrants that the terms and conditions of these
Terms have been clearly understood and that the information
furnished to the Member is accurate and truthful
(b) The Constituent confirms that it/he/she is of legal age and
he/she/it has obtained the necessary approvals from the relevant
regulatory/ legal and compliance authorities to access the
services provided pursuant to these Terms.
VII.v Indemnity (a) Though orders are generally routed to the
marketplace shortly after the time the order is placed by the
Constituent on the system there may be a delay in the execution of
the order due to any link/system failure at the
Constituent/Member/NSE/BSE's end. The Constituent hereby
specifically indemnifies and holds the Member harmless from any
and all claims, and agrees that the Member shall not be liable for
any loss, actual or perceived, caused directly or indirectly by
government restriction, exchange or market regulation, suspension
of trading, war, strike, equipment failure, communication line
failure, system failure, security failure on the Internet, shut
down of systems for any reason (including on account of computer
viruses), unauthorized access, theft, any fraud committed by any
person whether in the employment of the Member or otherwise or any
problem, technological or otherwise, that might prevent the
Constituent from entering the Member's system or from executing an
order or in respect of other conditions .
(b) The Constituent further agrees that he/she/it will not be
compensated by the Member for any "lost opportunity' viz. notional
profits on buy/sell orders which could not be executed or real
loss from delay in executed orders due to any reason whatsoever,
including but not limited to time lag in the execution of the
order or the speed at which the system of the Member or of the
Exchanges is operating or the delay in stock quotes or any
shutting down by the Member of his system for any reason or the
Member disabling the Constituent from trading on his system for
any reason whatsoever.
VII.vi Member's Liability (a) Under no circumstances, including
but not limited to negligence, shall the Member or anyone involved
in creating, producing, delivering or managing the Services be
liable for any direct, indirect, incidental, special or
consequential damages, even if the Member or such person has been
advised of the possibility of such damages, that result from the
use of or inability to use the service, delay in transmission of
any communication, in each case for any reason whatsoever
(including on account of breakdown in systems) or out of any
breach of any warranty or due to any fraud committed by any person
whether in the employment of the Member or otherwise.
(b) The Constituent agrees to fully indemnify and hold harmless
the Member for any losses arising from the execution of incorrect/
ambiguous or fraudulent instructions that got entered through the
system at the Constituent's end.
VII.vii Limitation of liability The Member does not guarantee, and
shall not be deemed to have guaranteed, the timeliness, sequence,
accuracy, completeness, reliability or content of market
information, or messages disseminated to the Constituent. The
Member shall not be liable for any inaccuracy, error or delay in,
or omission of, (1) any such data, information or message, or (2)
the transmission or delivery of any such data, information or
message; or any loss or damage arising from or occasioned by (i)
any such inaccuracy, error, delay or omission, (ii)
non-performance, or (iii)interruption in any such data,
information or message, due either to any act or omission by the
Member or to any "force majeure" event (e.g., flood, extraordinary
weather condition, earthquake or other act of God, fire, war,
insurrection, riot, labour dispute, accident, action of
government, communications, power failure, shut down of systems
for any reason (including on account of computer viruses),
equipment or software malfunction), any fraud committed by any
person whether in the employment of the Member or otherwise or any
other cause beyond the reasonable control of the Member.
VII.viii Interruption in service The Member does not warrant that
the service will be uninterrupted or error free. The service is
provided on an "as is" and "as available" basis without warranties
of any kind, either express or implied, including, without
limitation, those of merchantability and fitness for a particular
purpose. The Constituent agrees that the Member shall not be held
responsible for any breakdown of the system either due to the
fault of the systems of the Member or of the Exchanges or
otherwise.
VII.ix Amendment/ Modification of the Terms The Member may at any
time amend these Terms, by modifying or rescinding any of the
existing provisions or conditions or by adding any new provision
or condition, by conspicuously posting notice of such amendment on
the web site. The Member shall not be required to communicate any
modification or rescission to the Constituent either through
physical or electronic form, and any notice of amendment or
modification is hereby waived by the Constituent. The continued
use of the services of the Member after such notice will
constitute acknowledgement and acceptance of such amendment. These
Terms (as amended or modified from time to time) represent the
entire agreement between the Constituent and the Member concerning
the subject matter hereof. The continued use of the Services by
the Constituent constitutes the Constituent's acceptance of any
and all modifications and amendments of the Terms.
VII.x Severability If any provisions or of these Terms are held
invalid or unenforceable by reason of any law, rule,
administrative order or judicial decision by any court, or
regulatory or self-regulatory agency or body, such invalidity or
unenforceability shall attach only to such provision or terms held
invalid. The validity of the remaining provisions and terms shall
not be affected thereby and these Terms shall be carried out as if
any such invalid or unenforceable provisions or terms were not
contained herein.
VII.xi No Assignment The rights of the Constituent under these
Terms are not transferable under any circumstances and shall be
used only by the Constituent.
VII.xii Authorised Representative The instructions issued by an
authorised representative of the Constituent shall be binding on
the Constituent in accordance with the letter authorising the said
representative to deal on behalf of the Constituent.
VII.xiii Death or Insolvency In the event of death or insolvency
of the Constituent or of its otherwise becoming incapable of
receiving and/or paying for or delivering or transferring
securities which the Constituent has ordered to be bought or sold,
the Member may close out the transaction of the Constituent and
the Constituent or its legal representative/s or nominee/s shall
be liable jointly or severally for any losses, costs and be
entitled to any surplus which may result there from.
VII.xiv Dispute Resolution (a) The Member and the Constituent are
aware of the provisions of the bye laws rules and regulations of
the NSE/BSE relating to the resolution of the disputes/differences
through the mechanism of arbitration provided by the Exchanges and
agree to abide by the said provisions insofar as any disputes
under these Terms relate to transactions that are to be carried
out on the exchanges.
(b) In so far as any other disputes or differences in connection
with these Terms or their performance (other than the disputes
referred to in Paragraph VII.ivx(a) above) are concerned such
disputes shall, so far as it is possible, be settled amicably
between the Parties and in the case where after 30 days of
consultation, the parties have failed to reach an amicable
settlement, such disputes shall be submitted to arbitration and
such arbitration shall be conducted in accordance with the Indian
Arbitration and Conciliation Act, 1996 (the “Arbitration Act”) by
an panel consisting of a sole arbitrator. The Member and the
Constituent expressly consent and agree that the Chairman, shall
be the persona designate to appoint the dais sole arbitrator. The
venue of arbitration shall be Delhi and each party shall bear the
cost of arbitration equally unless otherwise awarded by the sole
arbitrator.
(c) The member maintains offices at different places within the
knowledge of the Constituent and the Constituent shall have all
transaction with the principle office, but they may also avail
facility at its branches as well. Branch Managers shall also have
the power to recover payments or make the payments on behalf of
the principles to such Constituents after obtaining the
instruction in this behalf and may give acknowledgement of such
transaction on behalf of the head office. However all transaction
may be entered at branches shall be treated as transaction being
done with the principle office and all information shall remain
with the Member at New Delhi.
VII.xv Foreign Jurisdiction This service does not constitute an
offer to sell or a solicitation of an offer to buy any shares,
securities or other instruments to any person in any jurisdiction
where it is unlawful to make such an offer or solicitation. This
service is not intended to be any form of an investment
advertisement, investment advice or investment information and has
not been registered under any securities law of any foreign
jurisdiction and is only for the information of any person in any
jurisdiction where it may be lawful to offer such a service.
Further, no information on the Web Site is to be construed as a
representation with respect to shares, securities or other
investments regarding the legality of an investment therein under
the respective applicable investment or similar laws or
regulations of any person or entity accessing the Web Site.
VII.xvi General (a) Notwithstanding anything contained in these
Terms or in the Member-Constituent Agreement, Member retains its
right to:
(i) In its sole discretion to alter, limit or discontinue the
Website or any Material/s in any respect. Sanchit Financial &
Management Services Ltd. shall have no obligation to take the needs of any user
into consideration in connection therewith.
(ii) Deny in its sole discretion any user access to this Website
or any portion thereof without notice.
(b) No waiver by of any provision of this Agreement shall be
binding except as set forth in writing signed by its duly
authorised representative.
VII.xvii Other General Terms and Conditions. (a) The Constituent
agrees to abide by the Sanchit Financial & Management Services Ltd. Terms and
Conditions and rules in force and changes in Terms and Conditions
from time to time relating to their account.
(b) The Constituent agrees that the Sanchit Financial & Management
Services Ltd. will be at liberty to close their account any time without
assigning any reason whatsoever.
(c) The Constituent agrees that the Sanchit Financial & Management
Services Ltd. can, at its sole discretion, withdraw any of the
services/facilities given in their account either wholly or
partially at any time without giving them any notice.
(d) The Constituent agrees that any change in their account status
or change of address will be immediately informed to the Sanchit
Financial & Management Services Ltd. .
(e) The Constituent agrees that all instructions relating to their
account will be issued in writing satisfactory to the Sanchit
Financial & Management Services Ltd. in form and content.
(f) The Constituent agrees that they shall not pay any amount in
cash to any Sales Representative of the Sanchit Financial &
Management Services Ltd. at the time of opening an account or carrying out any
transaction in the normal course of the business.
(g) The Constituent agrees to accept the format provided by the
Sanchit Financial & Management Services Ltd. in order to execute their fax
instructions to the Sanchit Financial & Management Services Ltd. .
(h) The Constituent agrees that the Sanchit Financial & Management
Services Ltd. will send them communications/letters etc. through courier
/ messenger/mail or through any other mode at its discretion and
the Sanchit Financial & Management Services Ltd. shall not be liable for any
loss or delay arising there from.
(i) The Constituent agrees that the Pass Words will be dispatched
by courier (or any other mode at the Sanchit Financial &
Management Services Ltd. discretion) at their risk and consequence.
(j) The Constituent shall not hold the Sanchit Financial &
Management Services Ltd. liable in any manner what so ever in respect of such
dispatch of these items.
(k) An account may be opened on behalf of a minor by his/her
natural guardian or by a guardian appointed by a court of
Competent Jurisdiction. The guardian shall represent the minor in
all transactions of any description in the above account until the
said minor attains majority. Upon the minor attaining majority,
the right of the guardian to operate the account shall cease. The
guardian agrees to indemnify the Sanchit Financial & Management Services Ltd.
against the claim of above minor for any withdrawal/transactions
made by him in the minor's account.
(l) The Constituent agrees and undertakes to ensure that there
would be sufficient funds/cleared balance/pre-arranged credit
facilities in their account for effecting transactions. The
Constituent agrees that the Sanchit Financial & Management Services Ltd. shall
not be liable for any consequences arising out of non-compliance
by the Sanchit Financial & Management Services Ltd. of my instructions due to
inadequacy of funds and the Sanchit Financial & Management Services Ltd. can
at its sole discretion decide to carry out the instructions
notwithstanding the inadequacy of funds. There Sanchit Financial &
Management Services Ltd. may do the aforesaid without prior approval from
or notice to them and they shall be liable to repay with interest
the resulting advance, overdraft or credit thereby created and all
related charges arising thereby @ 24% compounded daily basis.
(m) The Constituent agrees that the Sanchit Financial & Management
Services Ltd. shall not be liable for any damages, losses (direct or
indirect) whatsoever, due to disruption or non availability of any
of services/facility/s due to technical fault/error or any failure
in telecommunication network or any error in any software or
hardware systems.
(n) The Constituent agrees that the Sanchit Financial & Management
Services Ltd. may disclose customer information, in strict confidence,
to any of its agent/s and/or contractors with whom the Sanchit
Financial & Management Services Ltd. enters or has entered into any
arrangement in connection with providing of services.
VII.xviii Accounts The Constituent agrees to repay to the Sanchit
Financial & Management Services Ltd. on demand, unconditionally, the amounts
of overdrafts or excesses against margin deposit that the Sanchit
Financial & Management Services Ltd. may grant it/he/her from time to time,
together with interest accrued thereon. The Constituent agrees
that this does not imply that the Sanchit Financial & Management Services Ltd.
is bound to grant them any credit or other facility whatsoever.
VIII.ii Internet Internet refers to the network of computers /
mobile phones / other electronic devices which share and exchange
information. The Internet is at once a worldwide broadcasting
capability, mechanism for information dissemination, and a medium
for collaboration and interaction between individuals and their
computers / mobile phones / other electronic devices capable of
accessing the Internet without regard for geographic location.
VIII.iv Customer Customer refers to any person who has a Sanchit
Financial & Management Services Ltd. Account and who has been authorised by
the Sanchit Financial & Management Services Ltd. to avail of the said
facility.
VIII.v Account Account refers to the Customer's Savings and/or
Current Account to which access is to be obtained through
Electronic Payment Gateway for Netbanking.
VIII.vi Personal Information Personal Information refers to the
information about the Customer obtained in connection with
Electronic Payment Gateway for Netbanking or otherwise.
XVIII. GENERAL The clause headings in this agreement are only for
convenience and do not effect the meaning of the relative clause.
The Constituent shall not assign this agreement to anybody else.
The Sanchit Financial & Management Services Ltd. may subcontract and employ
agents to carry out any of its obligations under this contract. I
do hereby solemnly affirm and declare as under:
1. That the above-mentioned authorised person/members of my family
are regularly trading/investing through you on National Stock
Exchange of India Ltd. (NSE/BSE) and/or any stock exchange(s). For
all purposes of operations of my account with you, the above
accounts shall be termed as Group Account.
2. That I hereby authorise you to sell shares standing in my
account and to transfer the proceeds of the sale of such shares to
the abovementioned accounts to set off all outstanding debit
amounts in their respective accounts.
3. That I hereby authorise you to set off all outstanding debit
amounts in the above mentioned accounts maintained by you in any
segment of any stock exchange(s), against the amount standing to
the credit of Constituent’s/Family/Group account maintained by you
in respect of any segment of any stock exchange(s).
4. That I have given the above authority to Sanchit Financial &
Management Services Ltd. with my free consent and without any pressure,
threat or coercion from any corner whatsoever.
5. That in future I shall not make any claim from Sanchit
Financial & Management Services Ltd. in any manner whatsoever of any amount adjusted
from the credit in my account to set off the outstanding debit
amounts in the above-mentioned accounts and I further state that
if anybody on my behalf claims the above said adjusted amount, the
said act shall be null and void and shall be ineffective from all
corners.
6. That this is my true irrevocable statement and shall remain
binding on me.
7. That I hereby undertake to intimate you from time to time of
any additions of the Constituents to the said Group Account for
the purpose of either allowing them to trade on my behalf or for
the purpose adjustment of balance inter se.
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