| 1 |
To subscribe to the units of the mutual fund & securities
on his/their behalf and to pay for the units so purchased,
on Customer’s specific instructions; |
| 2 |
To purchase and redeem units of mutual funds on his/their
behalf and to pay for the units so purchased, on Customer’s
specific instructions; |
| 3 |
To receive the account statement(s) and any other communication
from the mutual fund pertaining to the above said units
and/or to acknowledge receipt of the same; |
| 4 |
To redeem / sell the units held by Customer (whether
solely or jointly with others) and to receive the payment
of the redemption/ sale price and acknowledge receipt
of the same, based on Customer specific instructions; |
| 5 |
To sign all such writings and do all such acts as may
be required for redeeming any units; |
| 6 |
To collect, receive and give good and effectual receipts
and discharges for any sum including dividend or income
arising from the units and to sign and endorse dividend
warrants; |
| 7 |
To collect and deposit monies in an account opened in
Customer’s name with the Bank and to make such
debits in the said account as may be necessary; |
| 8 |
To correspond with and give notice to the mutual fund
and the corresponding asset management company on behalf
of the Customer; |
| 9 |
To instruct the mutual fund and/or the corresponding
asset management company to make note of instructions
with regard to nomination/change in investment plan/any
other changes. |
| 10 |
To do, perform and execute all such other acts, deeds,
instruments, matters and things for and on Customer’s
behalf as the Bank may think fit in accordance with
the Investment Scheme and any related writings about
these premises as fully and effectually and to all intents
and purposes as the Customer could do if Customer were
personally present |
| 11 |
The
Customer hereby give and grant unto the Bank full power
and authority to appoint from time to time one or more
substitute or substitutes to do, execute and perform
all or any of such matters and things as foresaid and
the substitute or substitutes at pleasure to remove
and to appoint another or others in Customer’s
place |
Customer hereby agrees and confirms that
all such acts and deeds done for and on behalf of the Customer
shall be binding on him / them and their successors &
legal heirs.
| 1 |
The customer understands that the bank may not send
any communication received from the AMC to him / them. |
| 2 |
Transaction rights will be pursuant to the customer
executing and granting a Power of Attorney (POA) or
a mandate as the case may be in favour of the bank,
in the manner and form as prescribed by the bank from
time to time. POA or a mandate as the case may be will
be applicable to all Investment Accounts whether presently
existing or to be opened in future. |
| 3 |
All purchase requests are subject to the threshold limits
as set by the AMC. All redemption requests are subject
to sufficient mutual fund unit balance and on final
discretion of the AMC / RTA. The unit balance refers
to minimum mutual fund unit balance to be maintained
for the scheme/fund. |
| 4 |
Save and except under conditions beyond the reasonable
control of the Bank, all requests received by Bank prior
to the cut off time shall be processed on the based
effort basis on the same day & all requests received
after cut off time shall be processed on next day. Such
'cut off-time' shall be communicated by the Bank to
the customer from time to time. |
| 5 |
All instructions including instructions for modification
shall be given only by the Customer named in bank’s
records and shall be binding on the Customer personally. |
| 6 |
The Bank may refuse to act on any instruction unless
they are given in writing in a manner and form acceptable
to the Bank or given orally in accordance with the telephone
facility of the Bank subject to the Bank's absolute
right to verify such instructions. Customer hereby authorize
the Bank to record all or any communication between
Customer and the Bank’s officials / agents. Further
Customer aggress and understand that, the Bank shall
have no responsibility to determine the authenticity
of any instructions given or purported to be given by
the Customer. The Customer shall not hold the Bank liable
on account of the Bank acting in good faith on any of
Customer’s instructions or instructions purported
to be given by the Customer. |
| 7 |
The Bank may in its own discretion decide not to carry
out the Customer’s instructions where the Bank
has reason to believe (which decision of the Bank the
Customer shall not question or dispute) that the instructions
are not genuine or are otherwise improper or unclear
or are in a manner that raise a doubt. |
| 8 |
Customer agrees and undertakes that notwithstanding
anything contrary contained anywhere, the Customer shall
not hold Bank responsible and the Bank shall not be
liable for any loss, claim or damages of whatsoever
nature, if any instruction(s) of the Customer is not
carried out by the Bank for any reason whatsoever nature. |
| 9 |
The Customer agrees and understand that the Bank is
required to receive clear written instructions from
the Customer to enable the Bank to effect fund transfer
activities on behalf of the Customer. |
| 10 |
The Customer hereby indemnifies and shall keep indemnified
the Bank against any loss, claim or damages of whatsoever
nature which Bank and /or Customer may suffer on account
of any improper / fraudulent fund transfer instruction
purported to be received from the Customer. |
| 11 |
The Customer agrees that the Bank shall not be obliged
to accept from the Customer any oral or facsimile instructions.
In order to, however, induce the Bank to act upon communications
and instructions transmitted by manual procedures (Facsimile,
Mail, Telephone only) he/they hereby irrevocably agree
that, absent the Bank(s) gross negligence, bad faith
or willful misconduct, as long as the Bank acts in compliance
with such authorization / instruction, the Bank shall
be indemnified for and held free and harmless from and
against any and all responsibility for, any and all
costs, claims, losses or liabilities of any nature (direct
or indirect) resulting from any act or omission (or
any delay) in response to instructions to the Bank to
transfer funds or purchase, sell or otherwise dispose
off units, together with any and all attendant costs
and expenses including the Bank(s) reasonable legal
fees and expenses, collectively referred to as losses.
|
| 12 |
The Customer also acknowledges that the security and
control procedures provided by the Bank are designed
to verify the source of communication and not to detect
errors in transmission or content including discrepancies
between names and account numbers and that the Bank,
or any intermediary, may execute an instruction by reference
to account number only, even if the name on the account
is also provided. Nothing contained herein shall require
the Bank to violate any applicable laws, rules or procedures/instructions.
The Bank shall have no further duty to verify the content
of any instruction and communications, whether or not
authorised, sent in its name and accepted by the Bank. |
| 13 |
The Customer confirms to have read and understood the
terms and conditions of the Offer Document of the Mutual
Fund. The Bank shall cause to make available to the
Customer on the website of the Bank Offer documents
of the schemes, annual reports, and addendums in respect
of the Mutual Fund. |
| 14 |
The Customer confirms that the Bank is not responsible
in any manner for the execution of the transaction and
that the RTA / AMC are solely responsible for any act
or omission in respect of the execution of transaction.
|
| 15 |
Folios created through this route or existing folios
used for this facility are deemed to be online folios
by the AMC/RTA and that he/they understand(s), agrees
and confirms that he / they shall not be directly serviced
by the AMC for such online folios. |
| 16 |
The Customer expressly agrees and acknowledges that
any information contained in the Bank's brochure or
other material or otherwise communicated by the Bank
shall not be construed by him/them as investment and
that all decisions to purchase or sell units made by
him/them shall be on the basis of his/their own personal
judgment arrived at after due consideration. He/they
understand and agree that the Bank does not in any manner:
| a |
provide any buy/sell or other recommendations;
or |
| b |
guarantee payment on any units; or |
| c |
guarantee the liquidity of any units; or |
| d |
make any offer to buy back any units; or |
| e |
guarantee the redemption or repayment of any
units on maturity; or |
| f |
guarantee the payment of dividend; or |
| g |
promise, indicate
or guarantee any returns; |
|
| 17 |
Notwithstanding anything contained anywhere, if the
Bank or any employee of the Bank gives any advice or
makes any representation to him/them, the Bank shall
have no liability for any such advice or representation
made as it will be his/their responsibility to make
an independent assessment. |
| 18 |
The customer(s) understand(s) that any sum invested
through the Kotak Mahindra Bank MF Investment Account
is not a deposit with the bank nor is insured. The same
is not endorsed or guaranteed and does not constitute
obligations of the bank or any of their subsidiaries,
associated or affiliated companies, whose role is only
as described. The units purchased are subject to investment
risks, including the possible loss of principal amount
invested itself. |
| 19 |
The value of the customer’s units may fluctuate.
If he/they redeem his/their units, he/they may receive
more or less than he/they paid depending upon the market
value of the securities in the fund or trust at the
time of redemption. Past results are not a guarantee
to future performance. Yield or performance fluctuates
and reflects past results. Yield or a fund's past performance
should not be considered as an indication or guarantee
of future yields or results. |
| 20 |
The Bank shall be under no duty to assess the prudence
or otherwise of any instructions given by the customer(s)
or to give any advice in relation thereto and would
be justified in acting on his/their instructions irrespective
of their prudence or otherwise. |
| 21 |
The service is provided at sole discretion of the bank
and may be withdrawn without prior notice. The bank
may levy charges at its sole discretion in respect of
these services. |
| 22 |
Information displayed on the bank’s website is
based on data received from the AMC/RTA & subject
to change without notice |
| 23 |
For Non-Resident Indian (NRI) customers - Transaction
rights will be pursuant the customer agreeing to:
| a |
undertaking to keep the Bank informed about
the change in his country of residence forthwith; |
| b |
that all rights and privileges granted in the
Mandate shall stand cancelled should the customer
move to a country in whose jurisdiction these
facilities cannot be extended, as informed by
the Bank from time to time. |
| c |
The NRI Customer hereby agrees to indemnify
and keep indemnified the Bank against any losses,
claims, costs, charges and expenses arising
from or suffered by the Bank by reason of non-compliance
by the NRI customer of the applicable laws. |
|
| 24 |
The Customer is entitled to terminate this service by
giving notice in writing to the Bank and the Bank shall
require at least seven working days for giving effect
to the same. The Customer agrees not to effect any transactions
consequent to the receipt of such termination notice
by the Bank provided that the Customer shall not be
relieved of its obligations hereunder, notwithstanding
such termination, incurred prior to the date on which
such termination shall become effective. Upon termination
of the services, the money and units with the Bank pursuant
to thereto may be paid or delivered (as the case may
be) by the Bank, after deduction of the Bank's dues
if any, to the Customer and the same shall be a valid
and complete discharge to the Bank. |
| 25 |
In case the investment is made in the name of a minor
with any of the guardians as joint holders, then the
investments made in the above manner are for the sole
benefit of the minor. |
Customer agrees that in the event of breach
of any of the terms by the customer and/or any agent or representative,
the customer shall be solely liable to pay damages and compensation
including all direct and indirect damages, costs, charges
and expenses that may be caused to or incurred or suffered
by the Bank. While the Bank shall use reasonable precautions,
these services are provided on "No warranty No risk basis".
