Terms & Conditions for Authorised Person (A.P.)

FYERS Securities Private Limited (hereinafter referred to as “Fyers”) is a company incorporated under the provisions of the Companies Act 2013 has its registered office at 901 and 902, 9th Floor, A Wing, Brigade Magnum, Amruthahalli, Kodigehalli Gate, Hebbal, Bangalore - 560092. Fyers may be referred to as “We”, “Our”, or “Us”.

Fyers is registered with the Securities and Exchange Board of India (“SEBI”) as a ‘stock broker’ having SEBI registration No.INZ000008524. Fyers is also a member of the National Stock Exchange of India Limited (“NSE”), having NSE Member Code: 90061, the BSE Limited (formerly known as Bombay Stock Exchange) (“BSE”), having BSE Member Code: 6697, Multi-Commodity Exchange of India Limited (“MCX”), having MCX Member Code: 56100, National Securities Depository Limited (“NSDL”) having NSDL Member Code: IN304502 and Central Depository Services Limited (“CDSL”) having Member Code: 12089400 (the NSE, BSE and MCX shall be collectively referred to as the "Exchanges"; and NSDL and CDSL shall be collectively referred to as the "Depositories").

The 'A.P.' is any individual or entity with FYERS assigned UCC (Unique Client Code) account approved by the Exchanges and Depositories. The A.P. can trade various securities through Fyers. The A.P. may also be referred to as “You”.

The terms described in this document, and any additional terms, terms within the accompanying AP documentation, and any applicable policies and guidelines concerning APs are collectively referred to as the “Terms”. The terms described for the Fyers clientele mentioned here will be applicable as and so. Entities shall include, as the case may be, body corporates, ‘Partnerships’ under the Indian Partnership Act, 1932, ‘Companies’ under the ‘Companies Act 1956’ or the ‘Companies Act 2013’, where applicable.

• Account and registration

  In order to access AP credentials, the Client will hold a valid Fyers account and complete the formalities as required by the SEBI, Exchanges or other regulated bodies. The information provided by the A.P. to Fyers will be deemed to be authentic, accurate, and up-to-date. In the event of any change in the same, the Client shall inform Fyers promptly.

• Permitted access

  The A.P will only given an A.P. code along with the access once the application is accepted and registered with the SEBI, Exchanges or other regulated bodies as required.

• Duties and obligations of the Authorised Persons
  • Authorised Person shall abide and follow the laws, bye-laws, circulars, orders, rules and regulations of the Government of India, SEBI, the Exchanges, the Depositories and any other statutory and regulatory body.
  • Authorised Person should have good reputation and character and has not been prohibited by the SEBI and/or the Exchanges or convicted of any offense involving fraud or dishonesty.
  • Authorised Person have thoroughly read and understood the FYERS ‘Terms & Conditions’ published on https://fyers.in/terms-and-conditions/, ‘Privacy Policy’ published on and the https://fyers.in/privacy-policy/, ‘App – Privacy Policy’ published on https://fyers.in/privacy-policy-mobile/, as updated from time to time. The Authorised Person understands that the Authorised Person shall be governed by the abovementioned terms and conditions, in the event the Authorised Person violates, infringes or deviates from same, FYERS shall be entitled to take any action under these Terms and/or Law.
  • Authorised Person have thoroughly read and understood all the terms, conditions, and clauses of the laws, rules, regulations and byelaws of the SEBI and Exchanges, and the rules and regulations with respect to ‘Authorized Persons’ under any of the Exchanges, with respect to marketing, advertising and receiving payouts from FYERS.
  • Authorised Person or any of the Directors, Partners, officers and employees of the Authorised Person is not a member or sub-broker /authorized /associated with any of the member of the Exchanges or director/partner/officer/employee of any sub-broker / authorized person/ associated with any of the Exchanges.
  • Authorised Person agree that they will be bound and be responsible for all their representations, deals, acts of commission and omission, quotations made and transactions effected and shall be responsible for all acts of omission and commission Authorised Person's employees, agents, etc., including liabilities arising therefrom.
  • Authorised Person shall not receive, collect or pay any money or securities in its own name or account. All receipts/payments of securities and payment of funds shall be made in the name of Fyers. The funds and securities shall be settled directly between Fyers and its client and all documents like contract note, statement of funds and securities would be issued to client directly by Fyers. Authorised Person shall not issue any document in its own name. Authorised Person confirm that no fund/securities of clients shall go to their account/s.
  • Authorised Person acknowledge that any marketing or advertisement material can be issued only upon prior written permission from the Exchanges and/or SEBI, and FYERS.
  • Authorised Person has the necessary infrastructure like appropriate office space, equipment and manpower.
  • Authorised Person affirms that since becoming a authorised person of FYERS, the Authorised Person is eligible to receive payment/payout only from Fyers. The Authorised Person shall not be engaged as an employee/referral partner/authorized person/sub broker for any other trading member, apart from Fyers, on any of the Exchanges. Additionally, Authorised Person affirms that Authorised Person is not a trading member on any of the Exchanges.
  • Authorised Person shall display at each branch office/place of business information such as particulars of the Authorised Person/registration details/employee/officer in charge of that branch, time lines for dealing, etc., as may be specified by the Exchanges. Any changes to the above shall be notified to Fyers thirty day prior to making the mentioned changes. SEBI, the Exchanges and/or Fyers shall be entitled to conduct periodic inspections of the same.
  • Authorised Person should maintain a record of the complaints received at the Authorised Person branch, place of business, location. The same are to be stored, handled and resolved as per the regulatory requirement.
  • Authorised Person should maintain a proper segregation and demarcation at Authorised person office in case any permissible activity other than the broking business is carried out.
  • The Authorised Person should maintain records/data as per the legal and regulatory requirements, data shall be securely stored to ensure confidentiality.The Authorised Person shall also install sufficient backup for the same.
  • Strict action will be taken if the Complaints received against the Authorised Person pertaining to Promissed/ Assured Returns / Unauthorised Trading / Dabba Trading / chit funds/ any association with any unregistered intermediary.The Authorised Person shall neither trade on behalf of its clients, nor offer any call and trade facilities.
  • The Authorised Person shall not map its mobile number, email id, address and/or any other details with its clients UCC details uploaded with the Exchanges. Similarly, the Authorised Person shall ensure the client shall not map its details under the UCC of the Authorised Person.
  • FYERS shall monitor the trading activities/turnover of Clients mapped with the AP and necessary actions/investigations are undertaken on a timely basis.
  • Annual Maintenance charges will be debited from Authorised Person's Ledger.
  • Authorised Person acknowledge that Authorised Person has read, comprehended, and commit to complying with the FYERS Partners Code of Conduct, which is supplementary to the laws, rules and regulations of the Exchanges and SEBI, concerning payouts, Authorized Persons, marketing, and advertising.
  • Authorised Person recognize that the terms and conditions associated with all referral payouts/bonuses or receivables linked to marketing/referrals from FYERS may be revised at any time by FYERS, at its sole discretion, or by the Exchanges. Consequently, Authorised Person agree to strictly adhere to the Rules, Regulations, and Code of Conduct of FYERS and the Exchanges, without any objections.
  • Authorised Person acknowledges that FYERS has deployed systems to identify and detect leads coming from specific sources and keywords to ensure fairness among Authorised Person. The Authorised Person shall not through any means directly or indirectly print, circulate, publish or display any advertisement or marketing material of FYERS or the services of FYERS on any media including digital advertisements through any search engine without the prior written approval of FYERS.
  • FYERS shall not grant, share, publish, circulate, provide or dissenminate any data, information or material relating to its clients, partners or its business affiliates.
  • The Authorised Person is not authorized to use FYERS logo or any intellectual property belonging to FYERS in the any advertisement.
  • The Authorised Person shall not be permitted to map or re-map any clients to and from any other Authorised Person.
  • The Authorised Person agrees to indemnify Fyersand its Directors/agents/employees against any claims or damages resulting from deviation from the Terms, laws, bye-laws,rules,regulations of the Exchanges and SEBI, and the Fyers Partners Code of Conduct.
  • In the event of any violation or infringement of these Terms, Fyers reserves the right to take necessary action against Authorised Person as determined by Fyers.
  • Authorised Person hereby confirm that Authorised Person have reviewed and understood the above undertaking agreement as its available in the KYC document, and Authorised Person commits to abiding these terms and conditions.
• Inspection

  Fyers has the right to visit the A.P's place of business without prior intimation as a part of annual inspection. Fyers is also mandated by law to report any suspicious activities under the Prevention of Money Laundering Act 2002 and other laws, rules, regulations, and circulars issued and passed by the Government of India, SEBI, Exchange, Depositories, or any statutory authority.

• End-users

  Neither Fyers nor its employee shall be responsible for the losses suffered by the A.P. or their Clients that may arise from technical malfunctions of the trading platform. The A.P. and its end-users shall be bound primarily by the terms and conditions they agreed to at the time of their account registration with Fyers.

• User Privacy

  All Clients and Authorized Persons will adhere to Fyers’ privacy policy and applicable data privacy laws and regulations and provide a privacy policy for their end-user that is clear and accurate.

• Prohibitions

  The A.P. shall not, in an individual capacity or acting on behalf of any other person or entity:

  • Defame, abuse, harass, stalk, or threaten others;
  • Promote, instigate, induce, or facilitate unlawful online gambling or illegal, immoral, or unwarranted activities, commercial messages, or advertisements.
  • provide any unauthorised investment and/or financial advisory services;
  • collect any fees for any unregistered services.
  • Remove, obscure, or alter any Fyers terms of service or any links to or notices of those terms.
• Confidentiality

  The A.P. and their Client’s credentials (such as passwords, API keys and secrets, and Client IDs) are intended to be used only by the same individuals and nobody else. The Client shall keep the credentials secure and confidential and shall not share the same with any third party, including A.P.

• Claim on performance

  Fyers does not make any promises, commitments, guarantees on the performance of its products and don't have any association with the unregistered entities involved on guarantees and talk about past performance , and expect the same must be followed by the A.P. as per the regulatory guidelines.

• Termination
  • Fyers has the right to terminate the A.P. registration in case of non-compliance observed at the A.P. side. The A.P will be given a 15 days time to respond to the queries raised by the Fyers or regulatory bodies before initiation of the termination process.
  • In the event, the Client intends to terminate the A.P registratio, the A.P. must provide Fyers with seven (7) days prior written notice.
  • An Authorized Person (AP) who does not engage in any business activities with us for a continuous period of six months will have their account considered inactive and shall be terminated.
• Payout
  • Payouts will be withheld if any complaint is received against the Authorized Person.
  • Payouts will be withheld if a complaint is received from a client mapped under the Authorized Person until the complaint is fully resolved.
• Surviving Provisions

  In the event of termination of these Terms, those terms that by their nature are intended to continue indefinitely will continue to apply.

• Indemnification
  1. The A.P and their clients agrees to indemnify and hold Fyers, its affiliates, service providers, officers, directors, and employees against all liabilities, damages, losses, costs, fees (including legal fees), and expenses relating to any allegation or third-party legal proceeding to the extent arising from:
     • Technical faults;
     • Violation or breach of these Terms by the A.P. or their end-users
     • any complaints raised by the Clients mapped under their respective A.P.
  2. Fyers will not be responsible for loss of profits, revenues, or data; financial losses; or damages whether indirect, special, consequential, exemplary, or punitive damages.
• Governing Law/Forum

  Notwithstanding the adjudication process provided by the SEBI or the Depositories or the Exchanges, these Terms shall be governed and interpreted by the laws of the Republic of India. Only courts in Bengaluru Urban, Karnataka, shall have the sole and exclusive jurisdiction to resolve any disputes hereunder.