TRANSACTIONS AND RESPONSIBILITY
In consideration of providing trading and other services, the CLIENT shall pay brokerage fees and other charges and levies to the MEMBER at rates as may be mutually agreed upon by the parties, in writing or other wise, from time to time. Statutory charges like STT, Turnover fees, Service Tax etc. will be extra or inclusive of such rates as may be decided from time to time.
- The CLIENT agrees to provide and continue to provide all details/ documents about themselves as may be required by the MEMBER for opening account with the MEMBER. The CLIENT agrees to immediately notify the MEMBER in writing of any changes in the information provided by the CLIENT to the MEMBER at the time of opening of the Account or at any other time
- The CLIENT hereby authorizes the MEMBER to act as his/ her/ its principal for buying and selling of Securities in the Exchange and the Member’s acting on the order, oral or written will be binding on the CLIENT.
- The CLIENT agrees that the MEMBER shall not be liable or responsible for non execution of orders placed through the trading terminal/ web site or through any other mode due to failure of any system or link or due to any other reason whatsoever. The MEMBER also reserves right of refusing to execute any particular transaction.
- The CLIENT will be responsible for all securities sold by him through the MEMBER. In case of bad delivery, it is the responsibility of the CLIENT to rectify the same or compensate the MEMBER for the losses.
- In case of refusal by the Depository Participant to honour any instruction on account of any dues to D.P or lien etc. the resultant loss if any occurred will be recovered from the CLIENT’s account.
- The MEMBER may insist the CLIENT to deposit interest-free margin money as a percentage of the price of securities proposed to be purchased, unless the CLIENT already has an equivalent credit with the MEMBER.
- The MEMBER may insist the CLIENT to deposit interest-free margin money as a percentage on the price of securities proposed to be sold, unless the MEMBER has received from the CLIENT the securities in its pool account prior to such sale or has received the securities with valid transfer documents to the MEMBER’s satisfaction prior to such sale
- The CLIENT authorises the MEMBER to set off a part or whole of the Margin i.e by way of appropriation of the relevant amount of cash or by sale or transfer or pledge of all or some of the securities which form part of the margin, against any dues of the CLIENT or of a member of the “Family” (hereinafter mean all the individuals, group companies, firms, entities and other persons as specified by the CLIENT as per Schedule “A” annexed hereto) in the event of the failure of the CLIENT or a member of the Family of the CLIENT to meet any of their respective obligations under these terms.
- In case where the payment by the CLIENT towards the margin is made through a Cheque issued in favour of the MEMBER, any trade(s) would be executed by the MEMBER only upon realisation of the funds of the said Cheque or at the discretion of the MEMBER.
- The CLIENT agrees and authorises the MEMBER to determine the market value of securities placed as Margin. The CLIENT undertakes to monitor the market value of such securities on a continuous basis. The CLIENT further undertakes to replenish any shortfall in the value of the margin consequent to a fall in the market value of such securities placed as margin immediately whether or not the MEMBER intimates such shortfall.
- The MEMBER may at its sole discretion prescribe the payment of margin in the form of cash instead of securities. The CLIENT accepts to comply with the MEMBER’s requirement of payment of Margin, failing which the MEMBER may sell, dispose, transfer or deal in any other manner the securities already placed with it as Margin or square off all or some of the positions of the CLIENT as it deems fit in its discretion without further reference to the CLIENT and any resultant or associated losses that may occur due to such square off/sale shall be borne by the CLIENT, and the MEMBER is hereby fully indemnified and held harmless by the CLIENT in this behalf.
- The CLIENT is responsible for all orders, including any orders that may be executed without the required margin in the CLIENT’s account. If the CLIENT’s order is executed despite a shortfall in the available margin, the CLIENT shall, whether or not the MEMBER intimates such shortfall in Margin to the CLIENT, instantaneously make up the shortfall either through delivery of shares in the event of a sale or credit the required funds in the bank account via wire or personal cheque, cashier’s cheque or money order or account transfer or any other mode.
- The CLIENT’s positions are valued at the latest market price available (mark to market) on a continuous basis by the MEMBER. If on such mark to market, the loss incurred by the CLIENT is more than the Margin available with the MEMBER , the CLIENT shall instantaneously pay the additional Margin