Terms of use & Agreement
Thank you for
selecting the Services offered by Valuefy Solutions Private Limited and/or its
subsidiaries and affiliates (referred to as " VALUEFY ", "we", "our", or "us")
via it's website
www.FinZipp.com ("FinZipp Investment Advisor").
Review these
Terms of Service ("Agreement") thoroughly. This Agreement is a legal agreement
between you and VALUEFY.
By accepting
electronically (for example, clicking "I Agree"), installing, accessing or using
the Services, you agree to these terms.
If you do not
agree to this Agreement, then you may not use the Services. This Investment
Advisory and transaction agreement sets forth the terms upon which Client avails
investment advice and transaction from FinZipp Investment Advisor.
Agreement
This
Investment Advisory Services Agreement ("Agreement") is made at Mumbai,
Maharashtra and on the "Date"
BETWEEN
Valuefy
Solutions Private Limited, a body corporate, incorporated under the provisions
of the Companies Act, 1956, having its registered office at D-401, Tulip, Valley
of Flowers, Kandivali East, Mumbai 400101. Herein after called "VALUEFY" (which
expression shall, unless repugnant to the context or meaning thereof, be deemed
to mean and include its successors and assigns) of the ONE PART.
AND
Customer,
[hereinafter called "the Client" which expression shall, unless repugnant to the
context or meaning thereof, be deemed to mean and include (if the Client is
individual) his/her heirs, executors, administrators and legal representatives
and permitted assigns; (if the Client is a Partnership Firm), the partners for
the time being of the said firm, the survivor or survivors of them and their
respective heirs, executors, administrators and legal representatives/its
successors and permitted assigns; (where the Client is a Company or a body
corporate) its successors and permitted assigns; (where the Client is the Karta
of a Hindu Undivided Family), the members for the time being of the said Hindu
Undivided Family and their respective heirs, executors, administrators and
assigns; (where the Client is the Trust), the principal trustee or the board of
trustees or the trustees or person authorised by the board of trustees for the
time being and from time to time (where the Client is the governing body of a
society), the respective successors of the members of the governing body for the
time being and from time to time the members of the society for the time being
and from time to time and any new members elected or appointed] of the OTHER
PART.
WHEREAS:
VALUEFY is an investment advisor
registered with SEBI under registration no
INA000000060
The Client is
desirous of obtaining Investment advice and online execution services from
FinZipp Investment Advisor
The Client
has satisfied itself that FinZipp Investment Advisor possesses requisite level of knowledge and
competence to provide online investment advice bundled in the product package.
VALUEFY has
satisfied and shall continuously satisfy itself about the genuineness and
financial soundness of the Client and investment objectives relevant to the
Investment Advisory Services to be provided.
NOW THIS
AGREEMENT WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES AS UNDER:
Declaration by the client
1) I / We have read and understood the
contents of all the scheme related documents including but not limited to
Statement of Additional Information and Scheme Information Document, Key
Information Memorandum (KIM), addenda issued thereto and Product Label of the
Scheme(s) before making the investment.
2) I / We agree to abide by the terms,
conditions, rules, regulations and take note of the risk factors of the
respective scheme(s) as on the date of this transaction.
3) I / We have neither received nor
been induced by any rebate or gifts, directly or indirectly in making the above
transaction.
4) I / We hereby declare that I am / We
are authorized to make the above transaction and the amount invested by me / us
in the scheme(s) is through legitimate sources only and does not involve and is
not designed for the purpose of any contravention or evasion of any Act, Rules,
Regulations, Notifications or Directions issued any statutory or regulatory or
government authority from time to time.
5) Only applicable in case of
investment by NRIs):I / We confirm that the I am / We are Non-Resident(s) of
Indian Nationality / Origin and that the funds for additional purchases are
remitted from abroad through approved banking channels or from funds in my / our
NRE/ NRO / FCNR account. I / We are a resident / incorporated body under the
laws of United States of America or Canada and I/We will invest in only those AMCs which are communicated to me by FinZipp Investment Advisor .
I/We will be held responsible for investments made in the AMCs not communicated by FinZipp Investment Advisor .
All users in countries other than India understand that by
using the service, they may be violating the local laws in such countries. If
the User chooses to access the service from outside India, he/she shall be
solely responsible for compliance with foreign and local laws. The Users agree
that they will solely be liable for any liability incurred in this regard and
will indemnify FinZipp Investment Advisor for any liability FinZipp Investment Advisor may incur in any foreign
jurisdiction as a consequence of the citizens / residents of countries other
than India using the Service. This plan does not constitute an offer to sell or
a solicitation to any person in any jurisdiction where it is unlawful to make
such an offer or solicitation.
7) I understand that Mutual fund and
Securities are subject to market risks and there can be no assurance that the
objectives of the schemes will be achieved.
8) I/We agree to the terms and
conditions for transacting through FinZipp Investment Advisor Investment Account as mentioned below
9) I/We hereby give my/our consent for capturing and
tagging the RIA registration No. of Valuefy, for all new purchases made through online transactions through FinZipp Investment Advisor.
Terms and Conditions - FinZipp Investment Account facility for investments in
mutual funds
This "FinZipp Investment Account"
facility ("FinZipp Investment Advisor") is provided by Valuefy Solutions Private Limited. ("VALUEFY") to enable the investors to carry out
online transactions in the units of the mutual funds. VALUEFY is registered with
the Securities and Exchange Board of India ("SEBI") as an Investment Advisor
under SEBI(Investment Advisers) Regulations, 2013("IA regulations") vide
registration no. INA000000060 dated 2nd August 2013.
VALUEFY is registered with various AMCs
as an RIA and shall facilitate online transactions in mutual funds for its
clients through its website
www.FinZipp.com [herein after referred to as "website"]
and shall be responsible/ liable for all regulatory compliances /contractual
obligations with respect
to online distribution of units of
mutual funds.
FinZipp Investment Advisor has entered into agreements
with third party technology service providers to link up with
Banks for offering various facilities
through the internet, which facilities and services including Net
Banking and payment settlement
facilities in respect of payment instructions initiated by the Investors using
Online payment facility. Accordingly, FinZipp Investment Advisor is available to those investors
who hold bank account with these banks and have availed the facility for online
payments / Net Banking.
This facility is made available with
respect to select Mutual Funds only, with whom VALUEFY has
entered into a separate arrangement and
accordingly provides online platform to deal in the units of
the scheme of these mutual funds that
are existing / launched / offered by them from time to time.
By subscribing to FinZipp Investment Advisor , you agree
and accept to abide and be bound by these terms and conditions. You further
agree to execute all the necessary documents which may be needed from time to
time, to send the necessary dealing details to the Mutual Funds / their
authorised Registrar & Transfer Agents (RTAs) to give effect to the dealings
made through FinZipp Investment Advisor .
1.
Registration Related Conditions
i. The Registration to FinZipp Investment Advisor is
subject to the satisfactory completion of the registration form and submission
of all mandatory documents and valid Permanent Account Number ("PAN") and its
subsequent verification and KRA verification.
ii. FinZipp Investment Advisor can be activated for KYC
Registration Agency (KRA) verified investors only. Accordingly while enrolling
for the FinZipp Investment Advisor registration, your KRA verification process will be checked and
you shall provide a copy of valid PAN and proof of completion KYC through SEBI
approved KYC Registration Agency ( KRA Agency ) or other details as may be
prescribed from time to time and these details shall get verified with KRA.
iii. You agree and authorise FinZipp Investment Advisor to
submit all the KYC Documents (name, Pan, age, address and signature)/ investor
related documents to the respective Mutual Funds, Asset Management Companies
and/ or their Registrar and Transfer Agents for the purpose of validation and to
comply with regulatory requirement notified from time to time. You agree that
signature available in the KRA records/systems would be used for signature
verification for processing any request made by you through the Website or
direct transactions with AMC and in the event such signature is not available or
legible in KRA records/system, you understand and agree that the AMC shall be
entitled to carry out further checks to validate the authenticity of the request
/ or to reject/ disallow any transaction in the connection herewith.
iv. Once it is ascertained that the
investor is KRA verified FinZipp Investment Advisor account would be activated. The account can be
operated using your FinZipp Investment Advisor user id and password. You agree and unconditionally
confirm that you shall be solely responsible to ensure protection and
confidentiality of the user ID and password at all times and any disclosure
thereof shall be entirely at your risk and accept the sole responsibility to
maintain the secrecy of all information of confidential nature and shall ensure
that the same is not disclosed to any other person.
v. You agree that access to FinZipp
Account may be suspended / cancelled /terminated without liability, in whole or
in part, at any time without prior notice if you do not comply with any of these
Terms or any modifications thereof.
vi. You agree and understand that no
change of address, mobile no., e-mail id and / or bank details can be allowed
for such accounts, unless a duly signed hard copy of such written request is
sent to the AMC / CAMS / POS for signature verification and other formalities.
2. General Conditions
i. You grant authority to VALUEFY to
process and transmit such request made by you through the FinZipp Investment Advisor account
authenticated by the user ID and password and authorise VALUEFY to execute your
instructions with regards to purchase /redemption /switch/sell or other
transactions/ activities in respect of mutual funds on your behalf, as may be
instructed by you from time to time, on the terms and conditions mentioned
herein.
When you provide consent (by logging in or by any other verification means)
to being a part of the family account, the parent family account holder gets access to your information and can
operate your account, including doing transactions, exactly as you would have logged in. You fully understand the obligations there and grant access
of your account to be a part of family account, where you intend to.
Valuefy cannot judge your relationships/partnerships with the parent account holder and in such cases the complete
onus of providing access rests on you.
ii. You agree and confirm that VALUEFY
and / or its authorised representative is / are not in a position to verify that
the dealings are indeed undertaken by you at the time of dealing through the
FinZipp Investment Advisor Account and VALUEFY shall be not held responsible for any transactions
arising out of the misuse of the password by any person other than you.
You shall be responsible for the
systems used by you with respect to dealings and for various security measures
which you have to take to prevent unauthorised access to details relating to the
dealing through the FinZipp Investment Advisor account, and VALUEFY shall not be liable for any
such unauthorised access.
iii. You understand and agree that
instructions given by you to VALUEFY for transacting in mutual fund units will
be forwarded to the AMC/R&TA in electronic log file format (‘Feed File') and
AMC/R&TA will process the transaction on the basis of such Feed File only. And
you hereby agree and consent to the transmission of data by electronic means
through the FinZipp Investment Advisor Account from the website.
iv. You agree that the data and
information provided by you pursuant to your dealing with VALUEFY could be
shared by VALUEFY with its authorised agents,representatives, affiliates, group
companies and subsidiaries for facilitating transaction processing, servicing,
data processing, transaction statement generation and for contacting for new
products and services including but not limited to marketing, cross selling,
business activities and promotions or for generating reports, market research,
customer study and for compliance with any legal or regulatory requirements. You
agree that submission of a transaction request through the FinZipp Investment Advisor Account shall
not be deemed to be acceptance of the transaction by Mutual Funds or its RTAs
and the transaction could be rejected if does not comply with the provisions of
the Scheme Information Document of the respective Mutual Fund or for any other
reason which VALUEFY and / its authorised representatives/Mutual Funds/RTAs
deems fit.
v. There is no guarantee for any
returns on investments made in Mutual Fund scheme(s). Past performance mutual
fund/schemes does not indicate the future performance of the schemes and may not
necessarily provide a basis of comparison with other investments
vi. Mutual fund and securities are
subject to market risks and there can be no assurance that the objectives of the
schemes will be achieved.
vii. As with any investment in
securities, the NAV of units issued under the schemes can go up or down
depending on the factors and forces affecting capital markets.
viii. You agree and authorize VALUEFY
to communicate on your behalf with the AMC's for financial and /or non-financial
transactions
ix. The transactions carried out
through the FinZipp Investment Advisor Account in Units of various schemes offered by the Mutual
Funds shall be subject to the provisions contained in the respective scheme
related documents including but not limited to Scheme Information Document and
Statement of Additional Information or any addendum thereto.
x. You agree to comply with KYC (Know
your Client/Customer) and KRA requirements as required under SEBI (KYC
Registration Agency) Regulation 2011, SEBI Act 1992, Prevention of Money
Laundering Act,
2002, all laws and regulations
including but not limited to the Foreign Exchange Management Act, Reserve Bank
of India (RBI) guidelines, to the extent applicable for availing the FinZipp Investment Advisor
account.
xi. You acknowledge that dealing
through the FinZipp Investment Advisor Account will be at your own risks. You shall solely be
responsible to evaluate all the risks arising out of the same. The risks would,
inter alia include:
Internet Frauds
The FinZipp Investment Advisor Account may be susceptible
to number of frauds, misuse, phishing, hacking and other actions, which could
affect instructions sent to VALUEFY/its authorised representatives. There cannot
be any guarantee from such internet frauds, phishing, hacking and other actions.
The susceptibility of the FinZipp Investment Advisor
Account to virus(es) or other malicious, destructive or corrupting codes or
programs.
You agree that by use of FinZipp Investment Advisor , you
shall be deemed to have agreed and accepted all the terms and conditions and
such terms and conditions shall be binding on you in the same manner as if you
have agreed to the same in writing.
You further agree and acknowledge that
the Mutual Fund/Asset Management Company will act only on the electronic
transaction data forwarded by VALUEFY and will be under no obligation to verify
and/or confirm the authenticity of such transactions including the content,
source etc. You hereby confirm that you will not hold the Mutual Fund/Asset
Management Company liable and/or responsible for any loss/damage that you may
incur as a result of any such improper use of your password/Investment Services
Account.
You agree and acknowledge that the
filling in of transaction data/instructions for onward forwarding to the Mutual
Fund/Asset Management Company would require you to incorporate proper, accurate
and complete details. In the event of your account receiving an incorrect credit
by reason of a mistake committed by any third party, the concerned mutual fund /
asset management company or the bank shall be entitled to reverse the incorrect
credit at any time without your consent.
You shall be liable and responsible to
VALEUFY/ concerned mutual fund / concerned asset management
company for any unfair or unjust gain
obtained by you as a result of the incorrect credit.
The mutual funds / asset management
companies may at its discretion not give effect to your transactions where the
mutual fund / asset management companies have reasons to believe (which decision
of mutual fund / asset management companies, you shall not question or dispute)
that the transactions are not genuine or are otherwise improper or unclear or
raise a doubt. The respective mutual fund/asset management company shall not be
liable for the loss of any opportunity costs incurred by you, if any
transactions are not carried out for any reasons whatsoever. You understand that
any payment made by you towards such transactions will be refunded to your
account, after deduction of charges, if any.
You understand that you may communicate
directly with the Mutual Fund/Asset Management Company to resolve any
clarifications that you may have pertaining to your investments in the Mutual
Fund Schemes.
In the event an Account is jointly
held, you acknowledge that all instructions (including instructions for
modification of this clause) shall be given only by the first holder of such
Account, on behalf of all of you and for this purpose, The joint investors,
irrevocably constitute the first holder above as your agent. All instructions
given by the first holder above shall be binding on all of you as if given by
each of you personally. You hereby authorize VALUEFY to process and transmit
such instructions given from time to time in relation to your transactions to
the respective mutual funds / asset management companies. The mode of holding in
all customer joint accounts is treated as "Anyone or Survivor".
3. Transaction Processing Related
Conditions
i. The online requests will be executed
based on the instructions of investors registered for - FinZipp Investment Advisor Account. You
agree and confirm that all the authorised and complete transactions will be
processed at the applicable NAV (as defined in the Scheme Information Document
of respective schemes of Mutual Funds) subject to receipt of funds and
acceptance of your transaction by the Mutual Funds/ RTAs.
ii. You agree not to hold VALUEFY / its
authorised representatives liable for any loss that may arise to you as a result
of the incorrect NAV applied on units allotted to you by the Mutual Fund.
iii. The money debited from your Bank
Account shall be collected in the pool account of the third party service
provider and from there it will be credited / transferred to the respective
Mutual Funds either on the same day or the next working day.
Hence, you agree, understand and acknowledge that there would be an
interim time lag in transferring / crediting the money from the pool account of
the third party service provider to the respective Mutual Fund account.
iv. You agree that when subscription
for mutual fund units are remitted through joint bank accounts of investors, the
default option for applying for mutual funds unit would be in the joint names of
all the account holders of the bank account. If the payment is not made from a
Registered Bank Account or from an account not belonging to the first named unit
holder, your transaction will be rejected.
Additionally, investors shall also have
an option to apply for units in single name of any one or more names of the
joint account holders of the bank account with nomination facility subject to
terms and conditions of the relevant SID. You agree that in joint account
holding, decision of First holder as mentioned above in clause 2 is binding on
others.
v. The units of the schemes shall be
allotted, redeemed or switched, as the case may be, at the Net Asset Value (NAV)
prevalent on the date of the transaction request by the Mutual fund, if the
request for purchase, redemption or switch is placed before the cut-off time.
vi. You agree that any transaction
request falling due on a holiday or after the cut off time mentioned on the
website would be processed on the next working day and respective NAV would be
applicable as per the Mutual Fund's Scheme Information Document. The cut-off
timings will be prior to the statutory cut-off timing specified under the SEBI
Regulations and the Scheme Information Document for operational convenience.
vii. Holiday means banking holidays as
applicable in Mumbai, India. The transactions once placed cannot be cancelled.
viii. In respect of purchase of units
of mutual fund schemes (other than liquid schemes), the closing NAV of the day
on which the funds are available for utilization shall be applicable for
application amount equal to or more than Rs 2 lakh or such other value as may
specified from time to time, irrespective of the time of receipt of such
application.
xi. VALUEFY /its authorised
representative/service provider does not take any responsibility for any delay
in acceptance / execution or non-execution / rejection of the order by the AMC.
Once the information is provided by the Mutual Funds for the rejection and
Investor will be informed accordingly.
xii. You agree that there may be a time
lag between the time a transaction is completed and before the same is updated
in the records of VALUEFY /its authorised representatives/service provider.
xiii. There may be a possibility of
variances in values arising out of delayed data feeds, transmission losses in
electronic data, electronic fund transfer etc. for which VALUEFY /its authorised
representatives/ shall not be liable.
xiv. You agree to maintain clear
balance in your Bank Account at all times to cover the purchase price and other
costs and charges / quantity of units. You are advised to check your daily fund
transfer limits with your Bank before placing the purchase transaction / units
in the particular scheme before placing a purchase/SIP request.
xv. In absence of sufficient funds (in
case of purchase) / lesser quantity of units (in case of sell/ switch), VALUEFY
/its authorised representative/service provider shall not be responsible for the
non execution / rejection of your instructions.
xvi. In case of Redemptions, if the
number of Units held by the Customer as per the records maintained by AMC and/or
the Authorized Registrar is less than the number of Units requested to be
redeemed, then the available units will be redeemed. Wherever redemption of
"all" units is specified in the request, all Unit holdings in that Scheme shall
be redeemed. All Redemptions shall be subject to the provisions mentioned in the
respective Offer Document / Scheme Information Document and addenda thereto
issued from time to time.
xvii. You agree that the payment for
the transactions undertaken by you through FinZipp Investment Advisor Account will be facilitated
through a payment gateway and the VALUEFY/its authorised representatives/
service provider shall not be liable for any failures in the link or for any
fraud (either payment gateway?
s and/or bank?
s end) that could take place at the time of at the time of making payment and you
shall inform VALUEFY /its authorized representatives/service provider
immediately if the your bank account is debited and wherein corresponding Units
have not been allotted.
xviii. In case of rejection of your
purchase request by the mutual fund, the amount will be credited into your bank
account only after the receipt of the refund from the relevant Mutual Fund.
xix. Redemption proceeds and dividend
payouts shall get credited directly by the AMC into your bank account provided
at the time of registration with FinZipp Investment Advisor . Provided, the bank account provided by
you is from the list of banks with which the Mutual Fund has a direct credit
arrangement. The list of such banks is mentioned in the Scheme Information
Document or Key Information Memorandum (KIM) cum common application form of the
respective Mutual Fund.
xx. All the purchase transactions
pertaining to mutual funds made on the website shall be allotted an online folio
number and you will be able to access the transaction account statement in
electronic
format. You will receive the Accounts
Statements directly from the AMCs/RTAs.
xxi. You agree and acknowledge that
transactions done through FinZipp Investment Advisor will be tagged with the RIA Code of VALUEFY
(INA000000060) will be treated as Direct.
xxii. The Customer has unfettered and
unrestricted access to the Mutual Fund/ AMC and can transact in the same folio
for financial / non-financial transactions without routing the transaction(s)
through VALUEFY.
xxiii. In the event of the termination
of the agreement of VALUEFY with the Mutual Fund/AMCs, you would not be allowed
to execute through the website any transaction including but not limited to a
transaction for Purchase, Redemption, etc of the Units of that Mutual Fund. In
such cases, VALUEFY will pass on / make available all your details to the Mutual
Fund/AMCs, as are required by them to enable you
to deal and interact directly with the AMCs/Mutual Fund from the date of
such termination.
xxiv. The payment gateway used for
online subscription of units could also include debit card/IMPs.
Such facility is enabled through third
party technology service provider and would be available for selects banks and
shall be subject to such conditions and limitations as may be applicable from
time to time. You may get a levy/ charges separately by your bank which you must
check before availing this facility. However, credits card will not accepted for
purchase of mutual funds.
xxv. There may be applicable exit
load/any other charge levied by the Mutual Funds will be chargeable in
accordance with the Scheme Information Documents(SID) /Key Information
Memorandum (KIM) and addendums issued thereto from time to time (collectively
referred to as "scheme related documents"). You shall read all the scheme
related documents before investing.
xxvi. Investments from residents in the
United States of America and Canada are permitted for certain mutual funds as communicated by FinZipp Investment Advisor .
FinZipp Investment Advisor shall not be liable for rejections of such applications by Mutual Funds,
where investor is an US and Canada resident.
xxvii. FinZipp Investment Advisor facility is not offered
nor is the Fund managed or intended to serve as a vehicle for frequent trading
that seeks to take advantage of short term fluctuations in the market, hence you
agree and acknowledge that the Mutual Funds or its authorised registrars [RTAs]
in it's sole discretion may reject any purchase or exchange of Unit that it
reasonably believes may represent a pattern of market timing activity involving
the funds of the Mutual Fund
4. Reverse Feed & Portfolio Reporting Related Conditions
You authorize VALUEFY for receiving the
Client's investment details and reverse feed files from the AMC & RTA/s. You
hereby give consent to share/provide the transactions data feed/portfolio
holdings/ NAV etc. in respect of your investments under direct plans of all
schemes managed by FinZipp Investment Advisor tagged with the SEBI Registered Investment Adviser
Code of VALUEFY (INA000000060).
5. Instructions For Nomination
i. Nomination shall be mandatory for
new folios/accounts opened by individuals especially with sole/single holding
and no new folios/accounts for individuals in single holding shall be opened
without nomination. However, in case investors do not wish to nominate must sign
separately confirming their non-intention to nominate, failing which the form
may be rejected at the discretion of the AMC/Mutual Fund.
ii. Unit holder can nominate (in the
manner prescribed under the SEBI Regulations), maximum upto 3 person(s) in whom
the Units held by him/her shall vest in the event of his/her death. It shall be
mandatory to indicate clearly the percentage of allocation / share in favour of
each of the nominees against their name and such allocation / share should be in
whole numbers without any decimals making a total of 100 percent. In the event
of the Unit holders not indicating the percentage of allocation / share for each
of the nominees, the AMCs, by invoking default option shall settle the claim
equally amongst all the nominees.
iii. In case of more than one nominee,
please obtain additional form as available on the website and follow the
instruction for providing the nomination details therein.
iv. Nomination made by unitholder shall
be applicable for investments in all the Schemes in the folio or account and
every new nomination for a folio or account will overwrite the existing
nomination. Thus, a new nomination request will imply simultaneous cancellation
of existing nomination and request for fresh nomination.
v. The nomination can be made only by
individuals applying for / holding units on their own behalf singly or jointly
in favour of one or more persons. Non-individuals including society, trust, body
corporate, partnership firm, Karta of Hindu Undivided Family, holder of Power of
Attorney cannot nominate. Nomination form cannot be signed by Power of attorney
(PoA) holders.
vi. In case a folio has joint holders,
all joint holders should sign the request for nomination /cancellation of
nomination and submit the same in physical form, even if the mode of holding is
not "joint".
vii. A minor can be nominated and in
that event, the name and address of the guardian of the minor nominee shall be
provided by the unit holder. The Applicant is advised that, in case of Single
Holding, the Guardian to a Minor Nominee should be a person other than the
Applicant.
viii. Nomination can also be in favour
of the Central Government, State Government, a local authority, any person
designated by virtue of these offices or a religious or charitable trust. The
Nominee shall not be a trust (other than a religious or charitable trust),
society, body corporate, partnership firm, Karta of Hindu ix. Undivided Family
or a Power of Attorney holder. A non-resident Indian can be a Nominee subject to
the exchange controls in force, from time to time.
x. Nomination shall not be allowed in a
folio/account held on behalf of a minor.
xi. Nomination in respect of the units
stands rescinded upon the transfer of units. Transfer of units in favour of a
Nominee shall be valid discharge by the AMC against the legal heir.
xii. The cancellation of nomination can
be made only by those individuals who hold units on their own behalf single or
jointly and who made the original nomination.
xiii. On cancellation of the
nomination, the nomination shall stand rescinded and the AMC shall not be under
any obligation to transfer the units in favour of the Nominee.
xiv. HDFC Mutual Fund requires a
physical nomination form to be sent to them to add nominees against your
investments. If you need to add nominee(s) for investments with HDFC Mutual
Fund, a physical nomination form signed by all the account holders is required.
6. Indemnification
i. You agree to keep indemnified and
hold VALUEFY / its authorised representatives, service providers, Mutual Funds,
Asset Management Companies and their officers and agents free and harmless at
all times, against all monetary and other harm, injury, costs, losses,
liabilities, damages, charges, actions, legal proceedings, claims and expenses
and consequences including without limitation any costs between attorney and
client, wh+ether direct or indirect, by reason of using FinZipp Investment Advisor account and/or
doing and/or omitting to do anything in accordance with the Terms specified
herein or any instructions relating to the online dealing in mutual funds
through FinZipp Investment Advisor .
ii. You agree that VALUEFY / its
authorised representatives/service providers, Mutual Funds, Asset Management
Companies and their officers and agents are not liable for any loss caused
through a fall in value of investments / NAV etc which can go up or down
depending on the factors and forces affecting capital markets or any indirect,
special or consequential loss you might suffer.
iii. You agree not to hold VALUEFY /
its authorised representatives/service providers liable for any loss or damage
caused by reason of failure / refusal or delay of the mutual fund to deliver any
units purchased even though payment have been effected for the same or failure /
refusal or delay in making payment in respect of any units sold though they may
have been delivered and you shall save FinZipp Investment Advisor / its authorised
representatives/service providers harmless and free from any claim in respect
thereof. VALUEFY / its authorized representatives/service providers shall also
not be liable for any delay, failure or refusal of the Mutual Funds or its
authorised agent / RTAs in registering or transferring units to your names of
for any interest, dividend or other loss caused to you arising there from.
VALUEFY / its authorised representatives/service providers shall not be liable
for any delay / refusal / non-payment of any proceeds on redemption or dividend
payouts by the Mutual Funds to your accounts for any reason whatsoever.
iv. You agree and undertake not to hold
VALUEFY / its authorized representatives/service providers for the following:
a. any delay or failure in processing
the transactions carried out by you due to any system failure or for any other
reason whatsoever.
b. for any loss or damage incurred or
suffered by you due to any error, defect, failure or interruption in the dealing
arising from or caused by any reason whatsoever.
c. for any fraud, negligence/mistake or
misconduct by you including failure to comply with the KRA/KYC norms or
provision of a valid PAN or PMLA requirements.
d. for any breach or non-compliance by
you of these Terms.
e. for not permitting you to deal after
such reasonable verification as VALUEFY /its authorised representative may deem
fit.
f. for permitting any person who
provides Mutual VALUEFY/ its authorized representatives/service providers with
the password to deal with FinZipp Investment Advisor Account.
VALUEFY / its authorised
representatives/service providers shall be under no obligation to further
ascertain your identification at the time of transactions.
g. for any loss or damage incurred or
suffered by you due to withdrawal or termination or suspension of the dealing
facility arising from or caused by any reason whatsoever.
v. You agree that this undertaking
shall be valid until such time you have not expressly informed in writing that
you do not wish to deal or transact any longer and it shall be also valid in
respect of any claims made on account of or relating to your dealing with
VALUEFY .
vi. If the foregoing limitation is held
to be unenforceable, the maximum liability of VALUEFY / its authorised
representatives/service providers to you shall not exceed the amount of
convenience fees / service charges paid by you for availing the services through
the Website.
7. Suspension & Termination
i. The FinZipp Investment Advisor facility / services may
at any time be suspended / disallowed /modifed for such reason and for such time
period as deem fit like inactive / dormant user id, noncompliance of the terms
stated herein, death, insolvency, bankruptcy of the investor, any other cause
arising out of the operation of law or such other reason as deems proper.
ii. FinZipp Investment Advisor facility may be terminated
by giving you 30 days intimation/notice to your registered e-mail id or by way
of SMS to your registered phone number. You may terminate the dealings at any
time by giving Prior written notice or deactivation of your user id and
password. In the event of termination for any reason whatsoever, you shall be
liable to pay all outstanding charges and dues, if any.
iii. In case you cease to be a
Investor/Customer of VALUEFY then all your details will be provided to the
Mutual Fund/AMCs and as are required by them to enable you to deal and interact
directly with the
AMCs/Mutual Fund Notwithstanding
anything stated above, kindly note that you have unfettered and unrestricted
access to Mutual Fund/AMC and you may approach the Mutual Fund/AMC directly any
time.
8. Amendments
These terms and conditions may be
amended for such reason as deem fit and proper including but not limited to
comply with changes in law or regulation, correct inaccuracies, omissions,
errors or ambiguities, reflect changes in the process flow, scope and nature of
the services, company reorganization or Investor requirements.
9. Intellectual Property Rights
All rights to this Website, the content
displayed on the website and / or for providing FinZipp Investment Advisor Account facility and/or
technology (in any form) made available to you as a part of or in conjunction
with the Services are the intellectual or proprietary properties of the VALUEFY.
These intellectual property in all material provided on the website (excluding
any applicable third party materials) is held by VALUEFY unless otherwise
stated. Except as expressly permitted herein or on the website, none of the
material provided on the website may be copied, reproduced, distributed,
republished, downloaded, displayed, posted, transferred or transmitted in any
form or by any means, including, but not limited to, electronic, mechanical,
photocopying, recording, or otherwise, without the prior written permission of
the VALUEFY. Further, you shall not transfer, reverse engineer, decompile,
disassemble, modify or create derivate works based on the materials provided on
the Website.
The copyright, trademarks, service
marks, registered designs, database rights, patents and all similar rights in
and relating to the website arising or subsisting in any country in the world
and the information contained in it are owned by VALUEFY, its licensors or
relevant third party content providers. Nothing on the website should be
construed as granting, by implication, estoppels or otherwise, any license or
right to use any trademark displayed on the website without the written
permission of VALUEFY or its relevant affiliate.
You also agree not to use any
information available on the website for any unlawful purpose, and you shall
comply with all instructions and directions issued if any to protect the
respective rights in the information.
10. Disclaimer
i. Mutual Fund investments are subject
to market risks, read all scheme related documents carefully before investing.
ii. The data, reports and information
provided on the website does not constitute an investment advice and therefore
should not be relied upon while taking investment decisions. You are therefore
advised to obtain applicable legal, accounting, tax or other professional advice
or services before taking an Investment decision. The Client understands that
the recommendation, views, articles, reports, and other contents are provided on
an "As Is" basis by FinZipp Investment Advisor and that use of this service is at his /her own
risk. Further he / she understands that FinZipp Investment Advisor does not warrant completeness or
accuracy of the information provided and FinZipp Investment Advisor shall not be responsible or
liable for any losses incurred by me for acting based on the views expressed
under this service. Further, he/she agrees that FinZipp Investment Advisor shall not be liable for
errors, omissions disruption, delay, interruption, failure, in providing the
service for reasons beyond its control.
iii. The transaction execution services
and the data, reports and information and recommendations, if any provided are
incidental to the distribution services of VALUEFY and shall not in any manner
be constructed as offering of any kind of investment advisory services or any
kind of legal, tax or financial advice. Further it shall also not mean that any
of VALUEFY's employees or associates have been in any way involved in your
decision making process. The investment decision, if any, will be taken by you
in your sole and absolute discretion.
iv. All benefits on investments will be
as per the provisions of Income Tax Act 1961 as amended from time to time.
v. This service does not constitute an
offer to buy or to sell or a solicitation to any person in any jurisdiction
where it is unlawful to make such an offer or solicitation.
vi. VALUEFY/its authorised
representative/service providers is not responsible for any omissions, errors or
investment consequences arising from the use of the materials available on the
website.
Whilst every reasonable precaution has
been taken to ensure the accuracy, security and confidentiality of data and
information available through the FinZipp Investment Advisor Account, VALUEFY/its authorised
representative/its service provider shall not be held responsible for any
consequence of any action carried out by you.
viii. The services/facility may suspend
or withdrawn at any time, and you acknowledge that the FinZipp Investment Advisor account is also
subject to interruption.
ix. You acknowledge and agree that the
Website and the linked backend infrastructure may be inaccessible and/or
unavailable at times. In such an event VALUEFY will not be liable for any
damage, liability, action, cause of action, suit, claim, demand, loss, cost, and
expense arising directly or indirectly from or in connection with such system
inaccessibility and/or unavailability.
x. VALUEFY makes no express or implied
warranty:
a. that the dealing through FinZipp Investment Advisor
account will be uninterrupted or free from errors or that any identified defect
will be corrected;
b. that the FinZipp Investment Advisor service is free
from any virus or other malicious, destructive or corrupting code, program;
c. in relation to non-infringement of
any third party rights, merchantability, satisfactory quality or fitness for a
particular purpose.
xi. VALUEFY/its authorised
representative and its service provider shall not be liable for any loss or
damage or other consequences arising from any suspension, breakdown, withdrawal,
interruption, technical flaw, the presence of virus or other malicious,
destructive or corrupting code, programs over the FinZipp Investment Advisor Account or otherwise
and any consequent delay or failure in completion of any payment or other
instructions as a consequence thereof arising from the use or inability to use
the FinZipp Investment Advisor Account.
xii. VALUEFY/its authorised
representative and its service provider shall not be liable for any failure to
perform any of its obligations or service standards etc if the performance is
prevented, hindered or delayed by a Force Majeure Event, which includes any
event due to any cause beyond the reasonable control including, without
limitation, unavailability of any communication system including Internet,
breach or virus in the processes or payment mechanism, sabotage, fire, flood,
explosion, acts of God, civil commotion, strikes or industrial action of any
kind, riots, insurrection, war, acts of government, computer hacking,
unauthorized access to computer data and storage devices, computer crashes,
breach of security and encryption codes.
xiii. The Investment Profile of the
Client is prepared by FinZipp Investment Advisor / VALUEFY and is based on FinZipp Investment Advisor / VALUEFY's
understanding of assessing risk and suitability in line with the objectives and
requirements of the Client as per the details provided. FinZipp Investment Advisor / VALUEFY may
use the information provided herein for the purposes of undertaking an internal
"risk assessment" of the Client. The series of questions herein may help FinZipp Investment Advisor
/ VALUEFY to appraise the Client's risk profile, particular needs, financial
situation, investment objectives and investment in financial instruments.
However, please note that the questions are only meant to be a guide to help
determine the Client's profile and shall not be considered to be conclusive. The
Client is required to ensure that the Client has provided accurate and complete
information. The Client is aware, acknowledges and agrees that if the Client
provides inaccurate and/or incomplete information, and/or chooses not to
disclose certain information, such action will adversely affect the results of
the risk assessment. FinZipp Investment Advisor / VALUEFY may provide information in relation to
the purchase/sale of financial instruments on the basis of such internal risk
assessment. However, this risk assessment is for internal purposes alone and
does not in any manner guarantee or represent that the information provided/to
be provided to the Client will take into account the individual characteristics
of the Client and/or will be suited to the Client's individual
tax/legal/financial circumstances or needs. Any suggested investment is based on
information provided by the Client and is only one of the many combinations of
investments that may be suggested to someone with the Client's risk profile. The
information provided by FinZipp Investment Advisor / VALUEFY to the Client is not to be construed
as investment advice of any type. FinZipp Investment Advisor / VALUEFY is not obliged to give any
advice or to make recommendations to the Client. Client will not solely rely on
the views, representations (whether written or oral or otherwise),
recommendations, opinions, reports, analysis, information or other statement
made by FinZipp Investment Advisor / VALUEFY or any of its agents, directors, officers or employees
and that the Client will make the Client's own assessment and rely on the
Client's own judgment in making any investment decision. In the event that the
Client seeks to make an investment pursuant to the information or recommendation
provided by FinZipp Investment Advisor / VALUEFY, the Client shall do so at its/his/her own risk,
and should consider its/his/her financial situation, objectives and needs and
consult with its/his/hers legal, business, tax and/or other professional
advisors to determine the appropriateness and consequences of such an
investment. The Client may, at his/her/its own discretion, opt not to follow the
investment / product / recommendations provided by FinZipp Investment Advisor / VALUEFY,
irrespective of whether they are in line with the objectives / requirements
specified in this document or the assessment derived from the details provided
herein. FinZipp Investment Advisor / VALUEFY and/or any of its subsidiaries/group
companies/agents/vendors along with all their Directors/officers/employees and
agents shall not be responsible for the amount / value of profit earned / loss
incurred by the Client or its variance from the mean / any other ratio used to
evaluate the returns from the mutual funds/ market / alternate products /
portfolios, that the Client may have earned. Third Party Investment products are
not obligations of or guaranteed by FinZipp Investment Advisor / VALUEFY or any of its affiliates
or subsidiaries, and are subject to investment risks and foreign exchange risks,
including the possible loss of the principal amount invested. Past performance
is not indicative of future returns and the prices and/or returns may change (go
up or down) from time to time. This document does not constitute the
distribution of any information or the making of any offer or solicitation by
anyone in any jurisdiction in which such distribution or offer is not authorized
or to any person to whom it is unlawful to distribute such a document or make
such an offer or solicitation. Investment products may not be available in all
jurisdictions. The Client shall notify FinZipp Investment Advisor / VALUEFY of any material change
in its/his/her situation and/or profile and FinZipp Investment Advisor / VALUEFY is entitled to
rely on the most recent information provided by the Client.
xiv. Investors who subscribe for
FinZipp Investment Advisor premium services hereby understands that he/she needs to pay entire
annual advisory fees in advance. He / She also understands that under "pay if it
works" offering, investors would get credit for amount that is equal to the
advisory fees in his FinZipp Investment Advisor account only for period wherein the portfolio of
schemes recommended by FinZipp Investment Advisor underperforms the category average return.
FinZipp Investment Advisor would evaluate the recommended portfolio performance with category
average return at the end of every quarter. For example - If the portfolio
recommended by FinZipp Investment Advisor underperforms in one quarter in a year, investor will get
credit for amount that is equal to the advisory fees for 1 quarter. The Client
also understands that the Advisory fees exclude transaction and platform fees.
The Client can redeem this credit while subscribing to any services on FinZipp Investment Advisor.
xv. The Client who subscribe for any
services on FinZipp Investment Advisor agrees that subscription charges (including taxes etc.) paid
are non-refundable including in case of deactivation, unsubscribing the services
or in any other circumstances.
xvi. The Client understands that he/she
can upgrade from existing plan anytime during his subscription period wherein
the charges as applicable will be charged on the pro-rata basis. He/she also
understands that he can't downgrade from existing subscribed plan anytime during
the subscription period. However, at the time of renewal of the service, he/she
can subscribe to any plan for his / her choice.
xvii. The Client understands that the
information under the plan shall be provided through online on FinZipp.com, his/her email id and mobile number registered with FinZipp Investment Advisor. In case of
any change in his/her email id and/or mobile number, he/she shall inform FinZipp Investment Advisor
in advance in the prescribed format to carry out the necessary changes in its
records. He/ She confirm that the information/details provided by him /her is
true, accurate, correct and complete.
xviii. The Client confirms that FinZipp Investment Advisor
shall have the right to withdraw the plan at any time without providing any
reason whatsoever and without giving any prior notice. He/She further confirm
that in case of withdrawal of the facility by FinZipp Investment Advisor, proportionate refund will
be provided for the balance period, if any.
xix. The Client is aware that in the
process of subscribing to the Plan by him /her, FinZipp Investment Advisor may obtain information
including that of a confidential nature and that this information will be used
by FinZipp Investment Advisor for its internal purposes and will be kept confidential. He/She
understands that FinZipp Investment Advisor reserves the right to disclose personal information
where it believes in good faith that such disclosure is required by law.
xx. The Client understands that FinZipp Investment Advisor
offers 3 subscription plan or options i.e. Basic, Regular and Premium. The
subscription charges including taxes etc. will be charged upfront in case of
Regular and Premium options. He/She also understands that the Basic plan will
automatically get converted to Regular plan once the investment or holding value
of all mutual funds schemes put together with FinZipp Investment Advisor reaches Rs 50,000 and in case of non-payment or lapse of
payment, FinZipp Investment Advisor reserves the
rights to cancel/terminate the
subscription plan.
xxi. The Client agrees to be contacted
by FinZipp Investment Advisor and its representatives over phone or on registered email id with
reference to the service.
xxii. The Client agrees not to use the
information provided under the service to any third party including any
discussion Forums or for any unauthorized illegal purpose. He/She also agrees to
use the information provided under the plan strictly for personal purpose.He/She
shall not recompile, disassemble, copy, modify, distribute, transmit, display,
perform, reproduce, publish or create derivative works from, transfer, or sell
any information, services etc accessed under this plan or otherwise. By viewing
the contents of this plan, he/she agrees that any unauthorized use shall be
unlawful and may subject to civil or criminal penalties.
xxiii. The Client agrees & confirm that
if his/her mobile number is registered in the Do Not Disturb (DND) list of TRAI,
he/she may not receive SMS from FinZipp Investment Advisor. He/She shall take steps to deregister
from the DND list and shall not held FinZipp Investment Advisor liable for non-receipt of SMS in
the interim period.
xxiv. The Client confirms having read,
accepted and understood the features of the subscription plan, applicable
charges, privacy policy, related FAQs and the Standing Instructions.
xxv. The Client agrees to the above
Terms & Conditions and hereby authorize FinZipp Investment Advisor to debit his Bank Account linked
to his/her FinZipp Investment Advisor account towards subscription
charges (including taxes).
xxvi. The Client understands that
he/she can close the FinZipp Investment Advisor account or unsubscribe to any services anytime by
writing an email on
contact@finzipp.com.
He/She also understands that any kind of subscription charges paid by the
customer are non refundable.
11. Confidentiality
VALUEFY shall make reasonable efforts
to keep all the information relating your dealings through FinZipp Investment Advisor Account
confidential. Provided however that the VALUEFY shall be entitled to disclose
any information or particulars pertaining to you to any authority, statutory or
otherwise as may be required by law or third party service provider required to
effect the transactions requested by you.
12. Governing Law and Jurisdiction
In case of any dispute, either judicial
or quasi-judicial the same will be subject to the exclusive jurisdiction of the
courts in Mumbai. These terms shall be construed in accordance with the laws
prevalent in India and are subject to SEBI guidelines, circulars, press releases
or notifications that may be issued by SEBI from time to time or the Government
of India, to regulate the activities of RIAs (Registered Investment Advisors).
13. Disciplinary Actions
No disciplinary action has been taken on the company by any regulatory authority in the past.
14. T&C for Online Systematic
Investment Plans (SIP) through NACH/ECS mandate
i. You understand and acknowledge that
there could be a minimum time gap of at least 30 days from the date of
submission of physical mandate, to enable the activation / registration of
online SIP facility, subject to the successful validation of the mandate by the
Banks. Likewise there shall be a minimum gap of alteast 30 days from the date of
receipt of SIP deactivation mandate and last investment made under SIP.
ii. Upon successful registration of
mandate, you can start the online SIP facility for making investment in mutual
funds a fixed amount of money at a fixed frequency of time based on your
convenience and choice.
iii. You grant Authority to VALUEFY/
its authorized payment processing service provider (third party service
provider) to debit your registered Bank Account through RBI'S ECS (Electronic
Clearing System) mechanism or National Payments Corporation of India's NACH
(National Automated Clearing House) to enable the collection of the SIP
installments and transferring to the respective AMC? s bank
account. The conditions related to NACH are applicable as and when such a
facility is made available.
iv. You agree and acknowledge that in
order to enable you to get the NAV on the SIP date (T date) chosen by you, debit
of the SIP amount from your Bank Account shall happen few days prior to the SIP
date (T). e.g. T-2, T-4 etc., depending upon ECS / NACH debit cycle of your
Bank, which could vary from location to location, as per ECS / NACH mechanism.
You understand and acknowledge that, VALUEFY/ its third party service provider
shall do a backward calculation from T date and depending upon ECS / NACH debit
cycle, your account will be debited on T - no. of days, such that on T date (SIP
day), the funds reach the respective AMC's Bank
account and the transaction data reach the respective registrar of AMC, to
enable them to allot units as per NAV on T date.
v. You agree and shall ensure to keep
sufficient funds available in your Bank account at least 7 days prior to SIP
date (T date). You understand and acknowledge that SIP installment and allotment
of units shall be subject to realization of funds. You shall not hold
VALUEFY/its third party Service Provider liable, in case the SIP installment
process could not be completed due to insufficient funds in your Bank account on
any particular ECS / NACH debit cycle date i.e. on T - no. of days. In such
case, the SIP installment shall lapse for that T of the month/quarter/half
year/year as the case may be.
vi. You agree, understand and
acknowledge that in the entire process there would be an interim time
lag in debiting the money from your
Bank Account and the actual transferring / crediting to the respective AMC's Bank account, as the money after the debited from your Bank Account shall be
lying in the ECS / NACH debit cycle and / or third party pool account, before
the actual transfer of funds to AMC' s bank
account on SIP date.
vii. You can view the units allotted by
AMC/registrar on the next day of SIP date (i.e. SIP day + 1 working day).