The following are terms of a legal agreement between you and FYERS.
FYERS Securities Private Limited (hereinafter referred to as “FYERS") is private limited company incorporated under the provisions of the Companies Act 2013 having 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 (“NSE”), having NSE Member Code: 90061, the Bombay Stock Exchange of India (“BSE”), having BSE Member Code: 6697, Multi-Commodity Exchange of India (“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 following are the terms and conditions (the “Terms”) governing the opening and operation of the FYERS trading and Demat account between the client and FYERS.
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 'Client' is any individual or entity registered with FYERS having a valid UCC (Unique Client Code) account approved by the Exchanges and Depositories. The Client may also be referred to as “You”. 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.
The terms described in this document, any accompanying documentation, and any applicable policies, terms and guidelines concerning the use of the trading and Demat account are collectively referred to as the “Terms”. The Terms shall also include the policies and guidelines issued by FYERS from time to time.
Please note that the information contained herein is subject to change without notice.
Before availing of online trading services, the Client shall complete the registration process as may be prescribed from time to time. The Client shall follow the instruction given in the website for registering himself as a client.
The Client agrees that all investment and disinvestment decisions are based on the Client’s own evaluation of financial circumstances and investment objectives. This extends to any decisions made by the Client on the basis of any information that may be made available on the website of FYERS. The Client will not hold nor seek to hold FYERS or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates or business associates liable for any trading losses, cost of damage incurred by the Client consequent upon relying on investment information, research opinions or advice or any other material/information whatsoever on the website, literature, brochure issued by FYERS or any other agency appointed/authorised by FYERS. The Client should seek independent professional advice regarding the suitability of any investment decisions. The Client also acknowledges that employees of FYERS are not authorized to give any such advice and that the Client will not solicit or rely upon any such advice from FYERS or any of its employees.
The client agrees to give absolute consent to FYERS to fetch the KYC data and other documents required for account opening from KRA/Digi Locker during the signup process.
FYERS will provide the client with a username and a trading password which will enable him to avail of the facilities of Online Trading through the FYERS website, over the telephone or in any such other manner as may be permitted by FYERS for availing of the services. FYERS may also provide the client with the username and password for accessing its back-office for various reports, etc. All terms regarding the use, reset and modification of such passwords shall be governed by information on the website.
The Client is aware that FYERS’ Online Trading System itself generates the initial password and that FYERS is aware of. The Client agrees and undertakes to immediately change his initial password upon receipt thereof. The Client is aware that subsequent passwords are not known or available to FYERS.
The Client shall be responsible for keeping the username and password confidential and secure and shall be solely responsible for all orders entered and transactions done by any person whosoever through FYERS’ Online Trading System using the Client’s username and/or password whether or not such person was authorised to do so.
The Client shall immediately inform FYERS of any unauthorised use of the Client’s username or password with full details of such unauthorised use including the date of such unauthorised use, the manner in which it was unauthorisedly used, the transactions effected pursuant to such unauthorised use, etc.
The Client acknowledges that he is fully aware of and understands the risks associated with availing of online trading services through internet including the risk of misuse and unauthorised use of his username and/or password by a third party and the risk of a person hacking into the Client’s account on FYERS’ Online Trading System and unauthorisedly routing orders on behalf of the Client through the System. The Client agrees that he shall be fully liable and responsible for any and all unauthorised use and misuse of his password and/or username and also for any and all acts done by any person through FYERS’ Online Trading System on the Client’s username in any manner whatsoever.
Without prejudice to the provisions mentioned herein above, the Client shall immediately notify FYERS in writing with full details if: he discovers or suspects unauthorised access through his username, password or Account, he notices discrepancies that might be attributable to unauthorised access, he forgets his password or he discovers a security flaw in FYERS’ Online Trading System.
All orders for purchase, sale or other dealings in securities and other instructions routed through the FYERS’ Online Trading System via the Client’s username shall be deemed to have been given by the Client.
The client agrees to provide information relating to customer user identification number, and such other information as may be required while placing orders on the telephone to determine the identity of the client.
The orders and instructions and all contracts and transactions entered into pursuant thereto and the settlement thereof will be in accordance with the Exchange Provisions.
FYERS may from time to time impose and vary limits on the orders which the Client can place through FYERS’ online trading System (including exposure limits, turnover limits, limits as to the number, value and/or kind of securities in respect of which orders can be placed, the companies in respect of whose securities orders can be placed, etc.). The Client is aware and agrees that FYERS may need to vary or reduce the limits or impose new limits urgently on the basis of the FYERS’ risk perception and other factors considered relevant by FYERS, and FYERS may be unable to inform the Client of such variation, reduction or imposition in advance. The Client agrees that FYERS shall not be responsible for such variation, reduction or imposition or the Client’s inability to route any order through FYERS’ Online Trading System on account of any such variation, reduction or imposition of limits. The Client understands and agrees that FYERS may at any time, at its sole discretion and without prior notice, prohibit or restrict the Client’s ability to place orders or trade in securities through FYERS.
Though orders will generally be routed to the Exchange’s computer systems within a few seconds from the time the order is placed by the Client on FYERS’ Online Trading System, FYERS shall not be liable for any delay in the execution of any order or for any resultant loss on account of the delay.
The client agrees FYERS may impose scripwise surveillance or such other conditions as to scripwise limits, etc. The client also understands that FYERS may impose various surveillances which may differ from client to client on the basis of the FYERS’ risk perception and other factors considered relevant by FYERS.
In case of a market order, the Client agrees that he will receive the price at which his order is executed by the exchange’s computer system; and such price may be different from the price at which the security is trading when his order is entered into FYERS’ Online Trading System.
As per the policies, the maximum order limit set is ₹2 crores per order. If the clients try to place an order beyond the ₹2 crores limit, the order will be rejected. Alternatively, clients can split the bulk order using basket orders.
The client agrees that all orders placed through the website shall be forwarded by the system to the Exchange. All orders placed otherwise than through the website shall be forwarded by the system to Exchange terminals or any other order execution mechanism at the discretion of FYERS. In the event that the order is placed during the trading hours, it shall be routed to and executed on the market system.
Online confirmation will be sent to the client by electronic mail or SMS after the execution of the order, trade and this shall be deemed to be valid delivery thereof by FYERS. It shall be the responsibility of the client to review immediately upon receipt, whether delivered to him by electronic mail or any other electronic means all confirmations of order, transactions, or cancellations. It shall be the responsibility of the client to follow up with FYERS for all such confirmations that are not received by him within a stipulated time.
The client shall bring any errors in any report, confirmation or contract note of executed trades (including execution prices, scripts or quantities) to FYERS’ notice in writing by an electronic mail or fax within twenty four hours of receipt of the concerned report, confirmation or contract note. Any other discrepancy in the confirmation or account shall be notified by the client to FYERS in writing via electronic mail or fax within twenty four hours from the time of receipt of the first notice. In all cases, FYERS shall have a right to accept or reject the client’s objection.
There may be a delay in FYERS receiving the reports of transaction, status, from the respective exchanges or other persons in respect of or in connection with which FYERS has entered into contracts or transactions on behalf of the clients. Accordingly FYERS may forward to the client late reports in respect of such transactions that were previously unreported to him as been expired, cancelled or executed. The client shall not hold FYERS responsible for any losses suffered by the client on account of any late reports, statements or any errors in the report / statements computed by or received from any exchange.
The client agrees that if, for any circumstance or for any reason, the markets close before the acceptance of the Order by the Exchange, the order may be rejected. The client agrees further, that FYERS may reject Orders if the same are rejected by the Exchange for any reason. In case of rejection of an order due to rejection by the Exchange, the client agrees that the order shall remain declined and shall not be re-processed, in any event.
FYERS may, at its sole discretion, reject any order placed on the website or in any other manner due to any reason, including but not limited to the non-availability of funds in the trading account of the client, non-availability of securities in the Demat account of the client with a designated depository participant, insufficiency of margin amount if the client opts for margin trading, suspension of scrip- specific trading activities by or on an Exchange and the applicability of circuit breaker to a scrip in which orders are placed.
The client agrees that, if the order is not accepted on the website for any reason, FYERS shall have the right to treat the order as having lapsed.
The client is aware that the electronic trading systems either at the Exchange or in the office of FYERS offices are vulnerable to temporary disruptions, breakdowns or failures. In the event of non- execution of trade orders or trade cancellation due to the happening of such events or vulnerabilities due to failure / disruption / breakdown of system or link, FYERS shall be entitled to cancel relative request/(s) with the Client and shall not be liable to execute the desired transactions of the client’s. In such event, FYERS does not accept responsibility for any losses incurred / that may be incurred by the Client due to such eventualities which are beyond the control of FYERS.
FYERS may at its sole discretion permit execution of orders in respect of securities, irrespective of the amount in the balance of the account of the client.
The client agrees to abide with and be bound by all the rules, regulations and bye-laws of the Exchange as are in force pertaining to the transactions on his behalf carried out by FYERS and the orders placed by him on the website or any other manner.
FYERS shall not be responsible for any order, that is made by the Client by mistake and every order that is entered by the Client through the use of the allotted user name and the security code(s) shall be deemed to be a valid order for which the Client shall be fully responsible.
Cancellation or modification of an order pursuant to the client’s request in that behalf is not guaranteed. The order will be cancelled or modified only if the client’s request for cancellation and modification is received and the order is successfully cancelled or modified before it is executed. Market orders are subject to immediate execution wherever possible.
The client shall not be entitled to presume an order having been executed, cancelled or modified until a confirmation from FYERS is received by the client. However, due to technical other factors the confirmation may not be immediately transmitted to or received by the client and such a delay shall not entitle the client to presume that the order has not been executed cancelled or modified unless and until FYERS has so confirmed in writing.
The pending orders shall be governed as per the exchange systems, after the market is closed for the day.
FYERS shall issue contract notes in terms of the SEBI (Brokers and Sub-Brokers) Rules and Regulations, 1992, within 24 hours of the execution of the trade. Such a contract note, if issued in physical form shall be dispatched by FYERS by courier, at the address mentioned in this agreement or at any other address expressly informed to FYERS by the client. The client agrees that FYERS to issue the contract note in digital form which shall be sent by way of electronic mail to the address provided by the client. FYERS shall not be responsible for the non-receipt of the trade confirmation due to any change in the correspondence address of the Client not intimated to FYERS in writing. Client is aware that it is his responsibility to review the trade confirmations, the contract notes, the bills or statements of account immediately upon their receipt. All such confirmations and statements shall be deemed to have been accepted as correct if the client does not object in writing to any of the contents of such trade confirmation/intimation within 24 hours to FYERS.
FYERS may allow/disallow client from trading in any security or class of securities, or derivatives contracts and impose such conditions including scrip-wise conditional trading for trading as it may deem fit from time to time.
Demat consent
“You” or “Your” shall refer to you, the client, who shall be providing this set of consents/authorisations to FYERS; with respect to permissions to how the instructions as set/placed by you can allow FYERS to operate in a certain manner towards certain actions/events/instructions; after you have completed signing all account opening documents, Risk Disclosure Documents(RDD) [as prescribed by SEBI], KYC documents & agreed to all policies and procedures of FYERS. All such instructions/consents/ authorisations provided by you, shall be via your online trading account with FYERS that is behind a unique combination of a Login ID , password, DOB/PAN only known to you.
You confirm to have established a commercial relationship with FYERS, a depository participant entity registered with SEBI (Reg. No: IN-DP-432-2019) by virtue of opening a beneficial owner account with Central Depositories (India) Limited (CDSL).
In course of availing online trading services and for meeting settlement obligations thereof on Exchanges, You hereby nominate, constitute and appoint FYERS, a SEBI registered stock broking entity (SEBI Registration Number: INZ000008524), hereinafter referred to as “FYERS” acting through their Director(s) and/or duly authorised staff for the purpose, as Your authorised person/entity with respect to the above-referred depository account held by You, to execute and perform severally all such acts and deeds; provided that, FYERS complies with all applicable conditions of all or any of their services offered by them in their capacity as stock brokers. You allow FYERS to carry out the below transactions, as per your instructions, on FYERS’s online trading platform.
KYC Consent
To mitigate risk and offer a more secure investment experience, FYERS provides the Cash and Mutual Fund segments by default. However, clients have the flexibility to choose other segments as per their preferences.
As we transition towards a greener environment, we are moving towards more online processes. However, if a client requires physical documents, they can request them by emailing us at [email protected]. Please be aware that courier charges will apply if physical documents are requested.
You authorise FYERS to enable receipt of pay-ins into Your trading & Demat account for selecting/instructing scrips/shares/mutual funds, as selected by You, to be transferred from your trading & Demat account to FYERS’s pool account (FYERS’s pool accounts are referred here, that are subject to change from time to time).
You authorise FYERS to deposit/transfer on allotment, the securities, debentures, units of the mutual funds and/or all other investments products applied, as per your instructions, through Your FYERS trading account, upon allotment, to my beneficial owner demat account with FYERS.
Settlement account numbers and the early pay-in account details of FYERS may be changed /updated from time to time.
In the event that any securities, shares or mutual funds are erroneously debited by FYERS from Your demat account, they shall be transferred back to Your account by FYERS as soon as practicable. You understand and consent that such a possibility may arise, and authorise FYERS to transfer such securities back to your account upon discovery of the error.
This authorisation/consent is applicable to trading and demat account(s) held by clients for market transactions done via the exchange via placing instructions on the online trading account.
This authorisation/consent shall not be valid for FYERS to execute any off-market transactions from Your account without your consent. Execution of all off-market transactions shall require Your specific consent, and are outside the purview of this authorisation.
This authorisation/consent places no restrictions on prohibitions on You with regards to issuing a physical DIS to operate Your account. You are, at all times, free to issue a DIS & operate your account.
This authorisation/ consent does not allow FYERS to open an Email ID on your behalf to receive relevant communications. FYERS shall, at no point attempt to open an email ID on your behalf for any purposes related to this authorisation.
Additional criteria and limits may be set and subject to change from time to time, as per the internal policies of FYERS and the rules/instructions prescribed by the Depositories.
You agree and confirm that any instructions set via Your online trading account, which requires Your credentials to login each time that is known only to You, is placed by You.
Your Login ID, password, DOB/PAN and other login/trading account details are uniquely known only to You and no other person. You must not share Your trading account details/login preferences/combinations with any third person. In case any such login details are shared by You with another person, You understand that all risks/liabilities taking place from Your account for instructions placed by any such third person from Your account will be indemnified by You.
FYERS, by itself or via any of its agents/employees/directors, will not/never ask for any login details such as password/OTP from You in any manner whatsoever.
You authorise FYERS to maintain records of all transactions, maintain portfolio view of Your holdings/securities, notify You with respect to each transaction or instruction placed from Your account via Emails, notifications from Your trading account or any other manner whatsoever.
Logs of all instructions/transactions placed by You will be maintained as a log for audit purposes and such records may or may not be shown in the back-office of Your online trading account login.
All client logins/consents are protected using an SSL certified 256-bit encryption. All transactions/instructions placed by You are safeguarded behind a secure firewall. For information security, and to maintain the source of origin, FYERS may or may not store details such as the IP address, device used, date & time of transactions/ instructions placed for a limited amount of time.
Online DIS consent
Online Delivery Instruction Slip (DIS) consent for debiting shares / MF units from demat to fulfill sell trades.
I authorise FYERS to debit securities from my demat account held with FYERS for any obligation created at the Exchange through my order(s)/trade(s) and/or for the purpose of availing margins as per the Terms & Conditions of the Online Delivery Instruction.
The stocks/mutual funds will be transferred from my demat account with FYERS to FYERS’s Depository account listed below:
|
Transaction Type |
Account Name |
Depository Participant ID |
DP Account Number |
|---|---|---|---|
|
Shares/Mutual Fund units |
FYERS BSE Principal Account |
12089400 |
00139409 |
|
Shares/Mutual Fund units |
FYERS BSE Pool Account |
12089400 |
00139413 |
|
Shares/Mutual Fund units |
FYERS NSE Pool Account |
12089400 |
00000091 |
|
Pledging of Shares/Mutual Fund units |
FYERS Collateral Account |
12089400 |
00283158 |
Third Party Demat Account
FYERS Securities Private Limited does not permit anyone to map or associate a Demat account from any other broker with your FYERS trading account. This means, you cannot link or connect a Demat account that you hold with another broker to your FYERS trading account.
Margin
The Client agrees and undertakes to immediately deposit with FYERS such cash, securities or other acceptable security, which FYERS may require as margin. The Client agrees that FYERS shall be entitled to require the Client to deposit with FYERS a higher margin than that prescribed by the Exchange. FYERS shall also be entitled to require the Client to keep permanently with FYERS a margin of a value specified by FYERS so long as the Client desires to avail of the Online Trading Service of FYERS.
The Margin will not be interest bearing. FYERS shall have, at its sole discretion, the irrevocable right to set off a part or whole of the Margin i.e., by the way of appropriating of the relevant amount of cash or by sale or transfer 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 group of the Client (for the purposes of these Terms, “Group” shall mean all the individuals, group companies, firms, entities and the persons as specified in the schedule to the Member Client Agreement) in the event of the failure of the Client or a member of the Group of the Client to meet any of their respective obligations under these Terms.
The client agrees and authorises FYERS to determine the market value of securities placed as margin after applying a haircut that FYERS may deem appropriate. 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 consequents to a fall in the market value of such securities placed as margin immediately whether or not FYERS intimates such shortfall.
FYERS may at its sole discretion prescribe the payment of Margin in the form of cash instead of or in addition to margin in form of securities. The Client accepts to comply with the requirement of FYERS with regards to payment of Margin in the form of cash immediately. Without prejudice to the stock broker’s other rights (including the right to refer a matter to arbitration), the stock broker shall be entitled to liquidate / close out all or any of the client’s positions for non-payment of margins or other amounts, outstanding debts, etc., and adjust the proceeds of such liquidation / close out, if any, against the client’s liabilities/obligations. Any and all losses and financial charges on account of such liquidation / closing-out shall be charged to and borne by the client.
The client agrees to abide by the exposure limits, if any, set by the stockbroker or by the Exchange or Clearing Corporation or SEBI from time to time.
The client is also aware that FYERS is required to deposit sufficient margin with the Exchange to enable all its eligible clients to trade subject to such limits as may be imposed by FYERS on the basis of FYERSs’ Risk perception and other factors considered relevant by FYERS. However, there may be circumstances when the deposits made by FYERS with the Exchange may not be sufficient in times of extreme volatility and trading terminals of FYERS may get temporarily suspended because of the cumulative effect of non-meeting of obligation by various clients as per this agreement. In these circumstances, no client shall have the right to claim any damages from FYERS for any loss that they might incur on account of such suspension of trading.
The Client agrees that any securities/cash placed by him/her/it as margin may in turn be placed as margin by FYERS with the Exchanges or banks or such other institution as FYERS may deem fit. The Client authorises FYERS to do all such acts, deeds and things as may be necessary and expedient for placing such securities/cash with the Exchanges/Banks/Institutions as margin.
Any reference in these terms to sales or transfer of Securities by FYERS shall be deemed to include sale of the Securities which form part of the Margin maintained by the Client with FYERS. In exercise of FYERS’ right to sell securities under the Agreement, the Client agrees that the choice of specific securities to be sold shall be solely at the discretion of FYERS.
Policy on Pledge and Withdrawal of Pledge
Example: If a client has a collateral margin of ₹5,00,000 and a Cash balance of ₹1,00,000. Say the client is willing to take a position that requires a margin of ₹4,00,000. As the client is not maintaining 50% of the necessary margin in cash of ₹2,00,000 and is short by ₹1,00,000, he/she will be levied an interest of 0.05% per day as a late payment charge on the debit cash balance of ₹1,00,000. (Total margin required is ₹4,00,000, wherein the margin required from the cash balance is ₹2,00,000 and the Collateral margin is ₹2,00,000, respectively)
Policy on Margin benefits and Penalties
Intraday Positions Square-off Timings
Square-off initiates as per the below schedule:
Equity – 3:15 PM
Equity Futures & Options – 3:15 PM
Currency Futures & Options – 4:45 PM
Commodity Futures & Options (Session 1) – 4:45 PM
Commodity Futures & Options (Session 2) – 11:15 PM (11:40 PM During winter sessions)
*Square-off timings may vary by a few minutes before market closing
Maintenance of trading account
Money pay-in to FYERS – The Client agrees that all payments due to FYERS will be made within the specified time and in the event of any delay, FYERS may refuse, at their discretion, to carry out transactions or closeout the position and the costs/losses if any, thereof shall be borne solely and completely by the client. All payments made to FYERS shall be from the account of the client and shall not to be from any third party.
Money payout to FYERS – Notwithstanding anything contained in any other agreement or arrangement, if any, between the parties hereto, the client hereby authorizes FYERS to release all payments due to him from the trading account maintain with FYERS, against specific request in this behalf.
Securities pay-in to FYERS – All delivery to be effected to FYERS for a trade, must be made within 24 hours from the execution of the sale order or one day before the pay-in date, whichever is earlier. Losses, if any, that may accrue in the event of a default in completing the delivery on the exchange by FYERS as a result of any delay in the delivery by the client, shall be borne solely and completely by the client. Losses for the purposes of this clause shall include auction debits/ penalty charges, if any incurred as a result of non-delivery of securities on the settlement date on the exchange. No third party shares will be sold through FYERS or third party payment should be made to FYERS and client will be solely responsible for any violation. If the client has sold any securities from the exchange against purchase in previous settlements, such sale shall be at the sole risk as to costs and consequences thereof of the client.
Securities pay-out by FYERS – FYERS may directly credit the demat account of the client with the depository participant or maintain the securities account with FYERS on a running account basis.
Provided that if the order placed by the client through the website or otherwise is for securities which are in the no-delivery period, such securities shall be credited to the trading account of the client only at the time of settlement of trades, as per the schedule of the Exchange. However, if any sum due from the client, FYERS may withholds the credit of securities to the demat account of the client. However, the client authorizes FYERS to withhold the securities to meet liabilities of client to FYERS under this agreement.
FYERS is entitled to consider any sum or money or security lying to the credit of the client as margin received.
UCC Account would be treated as INACTIVE if there is no transaction (trade) in the account for 12 calendar months from the last trade.
Whenever there is request for trade in INACTIVE account, the client must specifically provide in writing either through his registered Email ID or through a Letter requesting to reactivate the INACTIVE account. The back office executive should also confirm from the Client of any changes in details provided by him in the interim – which should be supported by adequate duly attested documents and the same to be updated in the back office and UCC before the Client is allowed to trade.
Once the account is identified as INACTIVE, any Funds/Securities lying in our account will be returned to the client.
Representations and warranties
The Client hereby warrants that he is capable of executing the present agreement and that the terms of the present are not in contravention of any rights of any party with whom such client has any agreements, at any time prior to the execution of this agreement.
He agrees to provide and continue to provide all details about themselves as may be required by FYERS, including but not restricted to PAN Number or Unique Identification Number (issued by SEBI) , and states all details and facts represented to FYERS are true.
The Client is aware and acknowledges that trading over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc., which are susceptible to interruptions and dislocations; and the Online Trading Service of FYERS may at any time be unavailable without further notice. FYERS and the Exchange do not make any representation or warranty that the Online Trading Service of FYERS will be available to the Client at all times without any interruption. The Client agrees that he shall not have any claim against the Exchange or FYERS on account of any suspension, interruption, non-availability or malfunctioning of the Online Trading System or Service of FYERS or the Exchange’s service or systems for any reason whatsoever.
FYERS states that it has complied with and will continuously comply and if not proposes to comply with all statutory and regulatory directions to offer the Internet Trading services through the website www.fyers.in and for dealing in cash and derivatives segment of the exchange.
The Client warrants that all or any of the securities deposited by him with FYERS in respect of margin requirements or otherwise, are owned by him and the title thereof is clear and free of encumbrances.
The Client/s agree to indemnify and hold FYERS harmless against any loss that may be suffered by it, its customers or a third party or any claim or action that may be initiated by a third party which is in any way the result of improper use of user ID and password by the Client/s.
The Client hereby confirms and warrants that the Client authorises FYERS to take all such steps on the Client’s behalf as may be required for provisions or to complete or settle any transactions entered into through or with FYERS or executed by FYERS on behalf of the Client. However, nothing herein shall oblige FYERS to take such steps.
Fees and brokerage
The Client agrees to pay to FYERS: brokerage, commission, fees, service tax and other taxes and transaction expenses as they exist from time to time and as applicable to the Client’s account and transactions, and the services the Client receives from FYERS.
A schedule of brokerage, fees and commissions, applicable service tax and other taxes and other transactions expenses shall be provided by FYERS to the Client from time to time upon request by the Client.
Investment or any other advice
The Client agrees that none of the services available on the website shall amount to investment advice on the part of FYERS.
The Client agrees that in the event of FYERS or any employee or official of FYERS, providing any information, recommendation or advice to the client, the client may act upon the same at the sole risk and cost of the client, and FYERS shall not be liable or responsible for the same.
FYERS, and its officers, directors, partners, employees, agents and affiliates will have no liability with respect to any investment decisions or transactions of the client.
UPI Mandate
You agree and confirm that any instructions set via your online trading account including UPI Mandates, which requires your credentials to login each time that is known only to you, is placed by you and no body else.
The Client acknowledges that the UPI Mandate debit shall take place at regular frequencies as opted by the client. The first date of payment shall be considered as the start date.
If the debit fails due to lack of funds in the client’s account or due to technical glitch, FYERS will retry the debit once again on the same date. Upon repeated failure, the next debit will be presented on the next calculated date as per the mandate frequency.
When the UPI Mandate cancellation request is received, no further debits will be initiated for the mandate.
In the event of where the funds are debited and FYERS has not received the funds, please wait for seven (7) working days to process the same or please contact us
Miscellaneous
FYERS does not warrant that the service will be uninterrupted or error-free. The service is provided in 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 client agrees that FYERS shall not be held responsible for delays in transmission of orders due to breakdown of the system or failure of communication facilities either due to the fault of the systems of FYERS or of the Exchanges or otherwise or for any other delay beyond the reasonable control of FYERS due to a breakdown or failure of communication facilities or for any other delay beyond the reasonable control of FYERS.
The Client hereby confirms and authorises FYERS to send promotional content through email, voice calls, SMS or any social media channels not limited to Whatsapp, Facebook, Twitter, Telegram etc.
All modification to this Agreement shall be made solely at the discretion of FYERS and shall be intimated to the client by a suitable modification to the terms and conditions or other applicable section on the website or in any other manner.
Indemnity
In the event of death or insolvency of the client, winding up or liquidation or their otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the client has ordered to be bought or sold, FYERS may close out the transaction of the client and the client or his legal representative shall be liable for any losses, costs and be entitled to any surplus which may result therefrom.
The client is aware that authentication technologies and strict securities measures are required for internet trading through order routed system and undertake to ensure that the password of the client and /or their authorized representatives are not revealed to any third party. The client also agrees to indemnify FYERS from any loss, injury, claim or any action instituted against FYERS arising from the misuse of the password by any party.
Force majeure
FYERS shall not be responsible for delay or default in the performance of their obligations due to contingencies beyond their control, such as (including but not limited to) losses caused directly or indirectly by exchange or market rulings, suspension of trading, fire, flood, civil commotion, earthquake, war, strikes, failure of the systems, failure of the internet links or government / regulatory action.
Severance
In the event of any one or more of the provisions contained in this Agreement becoming invalid, illegal or unenforceable in any respect under any law for the time being in force, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be prejudiced or affected thereto.
Notice
All notices, correspondences or communications issued under this agreement shall be served in any one or more of the following modes of communications and such notice or communication shall be served at the ordinary place of residence and/or last known web address / residing address and / or at the ordinary business address of the party to this agreement such as –
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