MF SIP TERM & Conditons

These terms and conditions for online investing in Mutual Funds are in addition to and binding on the existing Power of Attorney and the terms and conditions that has been signed/accepted by me/us with HDFC Securities Ltd. By clicking on the “I/We agree” button, I/We agree to be legally bound by these terms and conditions. I/We further agree that HDFC Securities Ltd may at its sole discretion vary the terms and conditions from time to time and I/We agree to abide by the same.

1. Definitions:

Words used but not defined in these Terms and Conditions shall have the same meaning as set out in the terms and conditions that has been signed/accepted by me/us with HDFC Securities Ltd. “Unit” shall mean the interest of an investor, which consists of one undivided share in the Net Assets of the Scheme “Net Asset Value (NAV)” of the Units of the Scheme will be computed by dividing the net assets of the Scheme by the number of Units outstanding on the valuation date. “Purchase” shall mean subscription to the units of the various schemes of the Mutual Fund. “Redemption” shall mean sale of the units of the various schemes of the Mutual Fund “Switch” shall mean an option to the investor to shift his existing investment in any of the schemes of the Mutual Fund to another scheme of the Mutual Fund. “Systematic Investment Plan (SIP)” shall mean an option available to the investor for investing in a specified frequency of months in a specified scheme of t Mutual Fund for a constant sum of investment “Load” shall mean a charge, which the Asset Management Company (AMC) may collect on entry and/or exit from a scheme. “Business Day” means a day other than: a. Saturday and Sunday; b. Bank Holiday or c. Day on which banks are normally open for business. Provided that, with respect to a Scheme this definition shall at all times be subject to the definition of Business Day in the Offer Document of respective schemes of various AMCs. NSE Mutual Fund Service System (MFSS): The MF platform provided by NSE for order placement BSE Star : The MF platform provided by BSE for order placement

2. Authorisation:

I / We hereby appoint and irrevocably authorize HDFC Securities Ltd (“HDFC Securities), its authorized employees/agents as my/our agent/distributor to act on my/our instructions provided electronically through the Internet using internet trading portal of HDFC Securities to purchase and/or redeem and/or switch units of mutual funds (“Transaction Instructions”) on the terms and conditions mentioned herein. I/We hereby state that all the acts, deeds and things done by me/us shall be binding on me/us.

3. I / We agree and acknowledge to submit to HDFC Securities a completed Application Form and/or electronic consent in the prescribed format for the purpose of registration and thereafter placing any order on MF platform with HDFC Securities.

4. I / We further acknowledge, understand and confirm that this offer for subscription / redemption of transactions on the Mutual Fund platform is available only for Resident Individuals and other Non individuals and the same is currently not applicable and/or being offered for NRI set of entities. In case of any change in my/our residential status I/we hereby represent, undertake and warrant to intimate HDFC Securities on the same and shall abide by any directions in this regard to be provided by HDFC Securities

5. For the purpose of availing the MFSS / BSE StAR MF facility, I/we hereby authorize HDFC Securities to take on record the Know Your Client (KYC) details as submitted by me/us to HDFC Securities at the time of opening the trading account with HDFC Securities and I/we further confirm, undertake and warrant that the details contained in same are true, correct, complete and up to date in all respects. I/We further agree that any false/misleading information given by me/us or suppression of any material fact will render my/our accounts and/or the services being provided to me/us liable for termination. I/We hereby indemnify and keep indemnified HDFC Securities against all losses, liabilities, claims (including third party claims), actions, suits, proceedings, damages that HDFC Securities may incur due to my/our providing of any incorrect/incomplete KYC details

6. I / We shall notify HDFC Securities and/or the Participant/MFI in writing if there is any change in the information in the client registration form provided to HDFC Securities and/or the Participant/MFI at the time registering as a client for participating in the NSE MFSS / BSE STAR MF platform or at any time thereafter.

7. I / We represent and warrant that I/We are satisfied of the capacity of HDFC Securities and/or the Participant/MFI to deal in Mutual Fund units and execute my/our instruction through the Participant/MFI from time to time.

8. I / We agree and acknowledge that

(i) I / We are responsible to ensure that the details including my/our personal and bank related details provided for giving Transactions Instructions are correct. This Service shall be linked to the Account.
(ii) The Transaction Instructions shall be processed subject to availability of sufficient and clear funds in my/our Account.
(iii) Redemption requests for all Open Ended Schemes can be given at any time. However, Redemption requests for Closed Ended Scheme can be given only on the dates specified by the AMC’s
(iv) Any Transaction Instruction placed on a non Business Day or after the cut off time will be processed on the next Business Day and the NAV would be the NAV applicable on the day on which it is processed.
(v) I / We understand and agree that the Transaction instruction once placed through this mode cannot be cancelled.
(vi) I / We understand that HDFC Securities, may not carry out my/our Transaction Instructions where HDFC Securities has reasons to believe that the Transaction Instructions are not genuine and/or are otherwise improper and/or unclear and/or raise a doubt and/or for any reason beyond the control of HDFC Securities. I/We further understand that the decision of HDFC Securities in this regard will be final and binding.

9. I / We are willing to abide by the terms and conditions as mentioned in the Circular dated November 24, 2009 (NSE) / December 02, 2009 (BSE) and as may be specified by the Exchange from time to time in this regard. I/We shall ensure also compliance with the requirements as may be specified from time to time by Securities and Exchange Board of India (SEBI), Association of Mutual Funds of India (AMFI), & Stock Exchange BSE NSE etc.

10. I / We shall read and understand the contents of the Scheme Information Document/ Key Information Memorandum/Offer document, addenda issued regarding each Mutual Fund Schemes with respect to which I/we choose to subscribe/redeem. I/We further agree to abide by the terms and conditions, rules and regulations of the Mutual Fund Schemes.

11. I / We have read and understood the cut-off timings for placing normal order / L0 / L1 orders the details of which are clearly explained in Frequently-Asked-Question section maintained on HDFC Securities ltd website and agree to the same.

12. I / We shall pay to HDFC Securities fees and statutory levies as are prevailing from time to time and as they apply to the Client's account, transactions and to the services that HDFC Securities renders to the Client.

13. I / We will furnish information to HDFC Securities in writing, if any winding up petition or insolvency petition has been filed or any winding up or insolvency order or decree or award is passed against or if any litigation which may have material bearing on our existing Member client relationship

14. I / We hereby agree and acknowledge that HDFC Securities shall provide this service on a best effort basis. Neither HDFC Securities nor any of its affiliates shall be liable for damage or other costs or any failure to perform its obligations, arising in any way out of:

a) System failure including failure of ancillary or associated systems, or fluctuation of power, or other environmental conditions or for any circumstances of acts of God, floods, epidemics quarantine, riot or civil commotion and war or any other like reasons beyond the reasonable control of HDFC Securities; or
b) Accident, transportation, neglect, misuse, errors, frauds, of the clients or agents or any third party;
c) Any fault in any attachments or associated equipment of the clients; or
d) Any incidental special or consequential damages including without limitation of loss of profit. The role of HDFC Securities is only to facilitate the Transactions Instructions. However, HDFC Securities shall not be responsible/liable for any losses/damages/costs incurred by us for reasons not falling within the aforesaid role of HDFC Securities

15. I / We am/are aware that Mutual Fund investments are subject to market risk, including possible loss of principal amount invested. I/We hereby confirm and understand that I/We will undertake the investments only after understanding the risks. I/We further confirm that HDFC Securities is not providing Tax Advisory and that I/We shall be guided by the advice of my/our independent tax advisor and shall not hold HDFC Securities responsible for any of the losses which occurs to me/us on account of the same.

16. I / We hereby understand that the Mutual Fund schemes offered online by HDFC Securities have not been recommended by HDFC Securities nor have been sponsored by HDFC Securities or its affiliates or its sponsors

17. Neither HDFC Securities nor any of the Mutual Funds shall be liable for any failure to perform its obligations, to the extent that such performance has been delayed, hindered or prevented by systems failures, network errors, delay or loss of data due to the above and in circumstances of acts of God, floods, epidemics, quarantine, riot or civil commotion and war.

18. I/We hereby represent, confirm and warrant that HDFC Securities has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to HDFC Securities for the different competing Schemes of various Mutual Funds from amongst which the Scheme which is subscribed by me and the same has been displayed by HDFC Securities on its website. As per SEBI circular: SEBI/IMD/CIR No. 4/ 168230/09, dated June 30, 2009, the indicative rate of commission earned by HDFC securities from various fund-houses, whose products are being distributed as displayed on HDFC Securities website www.hdfcsec.com.

Fund Schemes	Upfront Brokerage/Upfront Commission	Trail year 1	Trail year 2 onwards
Equity and Balanced	0% - 1.25%	0% - 1%	0% - 1%
Index	0% - 0.75%	0% - 1%	0% - 0.75%
ELSS	0% - 2%	0% - 0.75%	0% - 0.75%
Asset Allocation	0% - 1.5%	0% - 1%	0% - 1%
Arbitrage Funds	0% - 1%	0% - 1%	0% - 0.5%
Monthly Income Plans	0% -1.5%	0% - 1%	0% - 0.5%
Gilt	0% - 1%	0% - 1%	0% - 0.5%
Income	0% -1.5%	0% - 1%	0% - 1%
Short Term	0%-0.05%	0%-0.05%	0%-0.05%
Liquid & Floating Rate	0%-0.05%	0%-0.05%	0%-0.05%

I / We understand that HDFC securities could also get reimbursements towards promotion and marketing related activities conducted by HDFC securities on behalf of AMCs. These reimbursements are event based and the same may or may not be received from AMCs in a particular period. Further, since such activities may be carried out at AMC level, reimbursement amount received cannot be attributed to any specific Scheme being offered by such AMC. I / We understand that the above Schedule of Commissions is as of 1st August 2009. It is subject to change, without any prior consent and at a sole discretion and agreement between HDFC securities and the respective Mutual Fund Houses. This has reference to SEBI circular CIR/IMD/DF/13/2011 dated August 22, 2011 and CIR/IMD/DF/21/2012 dated September 13, 2012. As per the circular, in addition to the existing up-front commission payable to the distributor, the distributor would be allowed to charge the Investor a Transaction Charge (@ Rs150 for a New Investor and @Rs100 for an existing Investor) where the amount of investment is Rs. 10,000 and above on a per subscription basis. The Transaction Charge will be deducted by the AMC from the amount remitted and paid to the Distributor. The balance amount will be invested in the scheme. Accordingly, the transaction charges would be deducted from the subscription amounts, as applicable. HDFC securities Ltd holding ARN 13549 have expressed to Association of Mutual Funds in India vide letter dated September 01, 2013 that we wish to be paid transaction charge for investment routed under our ARN 13549 for the following product type where we have selected to "Opt in" Products where "Opt-In" selected -- Gilt Schemes, Debt Schemes, Infrastructure Debt Schemes, ELSS, Other Equity schemes, Balanced schemes, Gold ETF, Other ETF, Fund of Funds investing overseas, Fund of Funds - domestic. Products where "Opt-out" selected - Liquid money market schemes.

19. I / We understand that the Terms and Conditions set hereinabove may be modified by HDFC Securities without any prior notice to the client and the client’s continued usage of the services shall be deemed to be an acceptance of the modified terms.

20. I / We are aware that HDFC Securities never asks for any sensitive information like ID, passwords etc. I/We agree that HDFC Securities will not be made liable for any phishing attack or any such cyber frauds.

21. I / We have gone through the offer document/key information memorandum before deciding to make this investment in the mutual fund scheme

22. I / We understand and acknowledge that HDFC Securities may, at its absolute discretion, alter, suspend or terminate any of the services completely or partially without any notice to me/us and without assigning any reasons thereof and the same shall be irrevocably and unconditionally final and binding on me/us

23. The client and the stock broker shall refer any claims and/or disputes with respect to order execution, settlement, etc., to arbitration as per the Rules, Byelaws and Regulations of the Exchanges where the trade is executed and circulars/notices issued thereunder as may be in force from time to time.

24. Further these terms and conditions are subject to and shall be conducted in accordance with the laws prevalent in India.