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Non Mandatory

The following clauses are at the mutual understanding and discretion of parties to the agreement hence they are voluntary in nature.

  1. The client agrees that he/she/it will not act as sub-broker without prior written permission of the stock broker and without obtaining certificate of registration from Securities and Exchange Board of India (SEBI).
    1. The client or his duly authorized representative whose particulars has been provided by the client to the stock broker shall be entitled to place/modify/cancel an order for sale or purchase of any securities through oral communication via telephone or otherwise and on receipt of such instructions those orders shall be forwarded for the execution.
    2. The client agrees to accept confirmation/ modification/ cancellation of an order for the sale or purchase of any securities through oral communication via telephone or otherwise.
    1. The client agrees to accept trade confirmation in the form of contract note. The client understands that it is his/her/its responsibility to review the contract notes immediately upon its receipt.
    2. The client agrees to review the statement of accounts for funds and securities or settlement of actual accounts when received and inform the broker within 30 days in case of statement of accounts for funds and securities and 7 days of receipt of the statement of actual settlement of accounts in case of any dispute.
  2. The Client agrees and hereby authorizes the Broker at its sole discretion and without any prior notice to the client to record any conversation between Client and the Broker. Such Electronic recording may be relied upon by the Broker as and when required to resolve disputes.
  3. The Client agrees that placing an order with the Broker does not guarantee execution of the order and/or its execution regardless of the confirmation by the Broker of the receipt of the order and/or its execution and the Broker shall not be liable for any losses, damage or claims on account of non-execution of any order placed.
  4. The Broker may refuse to accept or reject or cancel any order that may be placed by the Client for any breach of the Margin requirements as stipulated from time to time and where such circumstances appear to justify such action or on any other reasonable grounds. Where such refusal is made, the same may be communicated to the client and the trading member shall also furnish the reason for such refusal on a request being made by the client.
  5. In order to facilitate operations, the client is given an option to authorise the stockbroker to maintain a running account of funds and securities with the stockbroker, instead of settling the account on settlement of each transaction. The running account authorization can be revoked anytime upon giving notice in writing.
  6. It is the policy of the Stock Broker to treat the account of the client as Dormant if the client has not worked for a period of six month or more and can only be activated upon receipt of a written request from the client. However in case the client has not worked for a continuous period of two years the client will be treated as Inactive. Inactive account can only be reactivated after furnishing/updating the data relating to KYC. Further if the client does not work for three years he/she/it shall be issued a termination letter and his/her/its code will be removed from the back office at the sole discretion of the Stock Broker.
    1. Form of Communication: All notices or communications issued under this mutual understanding shall be served in any one or more of the following ways and such notice or communication under (a) to (i) below shall be served at the ordinary business address and/or ordinary place of residence and/or last known address of the client in any one or more of the following ways:
      a) by post, b) by registered post, c) under certificate of posting, d) by express delivery post, e) by telegram, f) by affixing it on the door at the last known business or residential address, g) by oral communication to the party or on the last known telephone number or on the recording machine of such number, h)by electronic mail or fax, i) by hand delivery.
    2. Any communication sent by the stock broker to the client shall be deemed to have been properly delivered or served, even if such communication is returned to the stock broker as unclaimed / refused / undelivered, if the same is sent to the ordinary business address and/or ordinary place of residence and/or last known address of the party, in any one or more of the ways as mentioned in clause i) above.
  7. In the event of any provision of this Agreement being held to be or becoming invalid, unenforceable or illegal for any action this Agreement shall remain otherwise in full force apart from the said provision, which will be deemed, deleted. The parties may however attempt to replace the deleted provision with a legally valid provision, which reflects the same purpose as the deleted provision to the greatest extent possible.

  8. The broker may make such changes in the policy and mutual understanding at its own discretion or due to changes in regulations or in statute as may be considered necessary from time to time by giving notice of 15 days. Any change in the policies and mutual understanding shall become effective after the completion of above notice period. In case the client does not raise any written (or via email) query or objection with respect to the change in policy/policies and mutual understanding and continues to deal with the stock broker subsequent to the intimation of such amendment, it would be deemed that the amended clauses are binding upon the clients.
  9. The stockbroker shall not be responsible for any losses, costs or damages resulting directly or indirectly from:
    1. Any action, omission, suspension of trading, decision or ruling of any exchange or regulatory, government or other body or of any other person which is beyond the stock broker’s control (including exchange, dealing or clearing house), or,
    2. any war, strike, lock- out, national disaster, act of terrorism, delay in postal service or any other delay or in accuracy in the transmission of orders or other information, or any breakdown, slowing down of the trading system failure or malfunction of any telecommunication or computer system beyond the control of the stock broker.

    The above Force Majeure events do not exempt the client to fulfill the obligations on his account with the stockbroker.

  10. The Client shall indemnify and keep indemnified the Stock Broker harmless from and against all claims, demands, action, proceedings, loss, damages etc. arising out of his illegal trades like circular trading, insider trading entered without the knowledge of the Broker. The client shall indemnify and keep indemnified the broker from any claim or losses arising from transaction in securities jointly held by the client with any other person.
  11. Words and expressions which are used in this agreement, but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the Rules, Bye-laws and Regulations of the Exchange and circulars issued there under.
  12. The provisions of this agreement shall always be subject to Government notification, rules and regulations, guidelines and circulars issued by SEBI and Rules, Regulations and Bye-laws of the relevant stock exchange that may be in force from time to time.

Signature of Client :____________________