M/s Vramath Financial Services Pvt Ltd is the Company registered under the Companies Act, having the Corporate Office at 5K Fifth floor, B-Block Gowri Chitra Gardens, 88/4 Arcot Road, Vadapalani, Chennai – 600026. The VRAMATH Clicq Nd Trade and Clicq ND Trade Pro + is the online brand of VRAMATH Financial Services Pvt Ltd. and it is together referred to as “VRAMATH”
This page contains important information regarding the terms and conditions which apply to your Trading & Demat account with VRAMATH, Member of NSE, BSE, and CDSL registered with the Securities & Exchange Board of India ("SEBI") as a Stock Broker with SEBI Registration No. INZ000249130
CDSL: IN-DP-383-2018. Your access to your account and the use of your account is subject to your compliance with all the terms and conditions set forth herein. Please read this page carefully and retain it for future reference. Please note that the information contained herein is subject to change without notice.
By selecting and accepting the “Terms and conditions”, during the login process or while applying for any service, the client agrees to be legally bound by these Terms and Conditions. The client agrees that VRAMATH may at its sole discretion vary the terms and conditions from time to time and client agrees to abide by the same.
Before availing of the 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 with VRAMATH.
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 web site of VRAMATH. The Client will not hold nor seek to hold VRAMATH 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 web site, literature, brochure issued by VRAMATH or any other agency appointed/authorised by VRAMATH. The Client should seek independent professional advice regarding the suitability of any investment decisions. The Client also acknowledges that employees of VRAMATH are not authorized to give any such advice and that the Client will not solicit or rely upon any such advice from VRAMATH or any of its employees or business associates.
Online account opening using AADHAAR is currently available only for residents of India and for opening accounts for an individual (HUFs, corporate bodies, NRIs, etc., not eligible).
The Client’s AADHAR number will be used to generate a temporary e-signature which will be used to e-sign the KYC document. The e-signature will be generated using an OTP which will be sent to the client’s mobile number registered with his AADHAR number.
If client is already registered in the KRA database then account can also be opened using the KRA data and such data cannot be edited. If such data needs to be edited then account cannot be opened using information available in KRA database. Where account is opened using KRA data, then for such account opening In person verification (IPV) is not mandatory.
KYC Registration Agency (KRA) is an agency registered with SEBI under the Securities and Exchange Board of India [KYC (Know Your Client) Registration Agency] Regulations, 2011. The KRA will maintain KYC records of the investors centrally, on behalf of capital market intermediaries registered with SEBI. The Fees paid towards the account opening charges for enabling equities as well as commodities is non-refundable.
VRAMATH 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 VRAMATH website/ trading platform. Further VRAMATH provides trading over the telephone through Call and Trade services using Telephone Personal Identification number (TPIN) or in any such other manner as may be permitted by VRAMATH for availing of the services. VRAMATH 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 password/TPIN shall be governed by information on the website.
The Client is aware that VRAMATH’s Online Trading system does not generate the initial password. The Client agrees and undertakes to create a strong new password immediately on first login. The Client is aware that these passwords are not known or available to VRAMATH.
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 VRAMATH’s 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 VRAMATH 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 VRAMATH’s Online Trading / Back office 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 VRAMATH’s Online Trading / Back office System on the Client’s Username in any manner whatsoever.
Without prejudice to the provisions mentioned herein above, the Client shall immediately notify VRAMATH 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 VRAMATH’s Online Trading System.
VRAMATH presently provides 2 kinds of trading platforms – Clicq ND Trade and Clicq ND Trade Pro +
They are offered on Web and Mobile. They use API of BOLT Plus On Web(BOW) trading platform.
Collectively all the platforms constitute the VRAMATH’s Online Trading System.
All orders for purchase, sale or other dealings in securities and other instructions routed through the VRAMATH’s Online Trading System via the Client’s Username shall be deemed to have been given by 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.
VRAMATH may from time to time impose and vary limits /leverage on the orders which the Client can place through VRAMATH’s online trading System (including exposure limits, turnover limits, single order quantity and value, 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 VRAMATH may need to vary or reduce the limits/leverage or impose new limits urgently on the basis of the VRAMATH’s risk perception and other factors considered relevant by VRAMATH, and VRAMATH may be unable to inform the Client of such variation, reduction or imposition in advance. The Client agrees that VRAMATH shall not be responsible for such variation, reduction or imposition or the Client’s inability to route any order through VRAMATH’s Online Trading System on account of any such variation, reduction or imposition of limits/leverages . The Client understands and agrees that VRAMATH 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 VRAMATH.
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 VRAMATH’s Online Trading System, VRAMATH 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 VRAMATH may impose scripwise surveillance or such other conditions as to scripwise limits, etc. The client also understands that VRAMATH may impose various surveillances which may differ from client to client on the basis of the VRAMATH’s risk perception and other factors considered relevant by VRAMATH.
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 VRAMATH’s Online Trading System.
The client agrees that all orders placed through the trading system shall be forwarded by the system to the Exchange. All orders placed otherwise than through the trading system shall be forwarded by the system to Exchange terminals or any other order execution mechanism at the discretion of VRAMATH.
Trade confirmations will be sent to the client by the trading system, email or SMS after the execution of the order and this shall be deemed to be valid delivery thereof by VRAMATH. It shall be the responsibility of the client to review immediately upon receipt, whether delivered to him by trading system, email, SMS or any other electronic means all confirmations of order, transactions, or cancellations. It shall be the responsibility of the client to follow up with VRAMATH 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 VRAMATH’s notice in writing by an email to admin@vramath.com within twenty four hours of receipt of the concerned report, confirmation or contract note. Any other iscrepancy in the confirmation or account shall be notified by the client to VRAMATH in writing via email within twenty four hours from the time of receipt of the first notice. In all cases, VRAMATH shall have a right to accept or reject the client’s objection.
There may be a delay in VRAMATH receiving the reports of transaction, status, from the respective exchanges or other persons in respect of or in connection with which VRAMATH has entered into contracts or transactions on behalf of the clients. Accordingly VRAMATH 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 VRAMATH 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 VRAMATH 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.
VRAMATH may, at its sole discretion, reject any order placed on the trading system / 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 articipant, 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 trading system / website for any reason, VRAMATH shall have the right to treat the order as having lapsed or rejected from the trading system.
The client is aware that the electronic trading systems either at the Exchange or in the office of VRAMATH 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, VRAMATH 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, VRAMATH 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 VRAMATH.
VRAMATH 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 VRAMATH and the orders placed by him on the trading system / website or any other manner.
VRAMATH 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) / password 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 and product conversions are available online, and if at any time the client wants to convert the executed order from one product type to another product type for example NRMLS to MIS or vice versa, it will be carried out, only if the client’s request for the product conversion is received before the stipulated time of intraday auto square off and if sufficient margins are available for product conversion.
The client shall not be entitled to presume an order having been executed, cancelled or modified/product converted until a confirmation from VRAMATH 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 VRAMATH has so confirmed in writing.
The pending orders shall be governed as per the exchange systems, after the market is closed for the day.
VRAMATH 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 VRAMATH by post/courier, at the address mentioned in this agreement or at any other address expressly informed to VRAMATH by the client. The client agrees that VRAMATH to issue the contract note in digital form which shall be sent by way of email to the address provided by the client. VRAMATH 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 VRAMATH 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 VRAMATH.
VRAMATH may allow/disallow client from trading in any security or class of securities, or derivatives contracts or any other trading products and impose such conditions including scrip-wise conditional trading for trading as it may deem fit from time to time.
The Client agrees and undertakes to immediately deposit with VRAMATH such cash, securities or other acceptable security, which VRAMATH may require as margin. The Client agrees that VRAMATH shall be entitled to require the Client to deposit with VRAMATH a higher margin than that prescribed by the Exchange.
The Margin will not be interest bearing. VRAMATH 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 VRAMATH to determine the market value of securities placed as margin after applying a haircut that VRAMATH 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 VRAMATH intimates such shortfall.
VRAMATH 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 VRAMATH 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 amount, 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 stock broker or by the Exchange or Clearing Corporation or SEBI from time to time.
The client is also aware that VRAMATH 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 VRAMATH on the basis of VRAMATHs' Risk perception and other factors considered relevant by VRAMATH. However, there may be circumstances when the deposits made by VRAMATH with the Exchange may not be sufficient in times of extreme volatility and trading terminals of VRAMATH 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 VRAMATH 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 VRAMATH with the Exchanges, clearing corporation or banks or such other institution as VRAMATH may deem fit. The Client authorises VRAMATH to do all such acts, deeds and things as may be necessary and expedient for placing such securities/cash with the Exchanges/clearing corporations/Banks/Institutions as margin.
Any reference in these terms to sales or transfer of Securities by VRAMATH shall be deemed to include sale of the Securities which form part of the Margin maintained by the Client with VRAMATH. In exercise of VRAMATH's 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 VRAMATH.
For more elaboration and details on margin requirements clients may review the policies/agreements/terms & conditions mentioned on the support portal, the link for which is given below:
Money pay-in to VRAMATH - The Client agrees that all payments due to VRAMATH will be made within the specified time and in the event of any delay, VRAMATH 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 VRAMATH shall be from the registered bank account of the client and shall not to be from any third party.
Money payout to VRAMATH - Notwithstanding anything contained in any other agreement or arrangement, if any, between the parties hereto, the client hereby authorizes VRAMATH to release all payments due to him from the trading account maintain with VRAMATH, against specific request in this behalf.
Securities pay-in to VRAMATH - All delivery to be effected to VRAMATH 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 VRAMATH 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/interest 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 VRAMATH or third party payment should be made to VRAMATH 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 VRAMATH - VRAMATH may directly credit the demat account of the client with the depository participant or maintain the securities in the client unpaid securities account (CUSA) of VRAMATH until the client has paid for the securities in full. If the client fails to pay for the securities purchased in full then VRAMATH reserves the right to sell the unpaid securities and related costs to recover its dues. The client is expected to monitor and pay for his securities purchased in full within settlement date.
Provided that if the order placed by the client through the trading system / 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, VRAMATH may withholds the credit of securities to the demat account of the client. However, the client authorizes VRAMATH to withhold the securities to meet liabilities of client to VRAMATH under this agreement.
VRAMATH is entitled to consider any sum or money or security lying to the credit of the client as margin received.
Running Account settlement of funds and Securities.
VRAMATH as per the rules and regulations of the Exchanges shall settle the funds and securities of the client, on a monthly/quarterly basis and this may lead to the insufficient account balances or margins for trading. Further, the client agrees that, VRAMATH shall not be responsible for any loss due to order rejections or for the non execution of the orders on time due to the settlement of the funds and securities.
Suspension of trading account
The client is aware that, if there are no trades in the trading account for a period of twelve months, VRAMATH shall suspend the trading account from further trading as per the rules and regulations of the exchanges. Further if at any time if the client wants to login to the online trading platform, the client has to send an e-mail to admin@vramath.com to activate the account for the trading or use the facility provided in the mobile APP for activating the suspended account. VRAMATH upon receipt of the client e-mail may activate the trading account within two workings days, and shall reset the password for the client login and trading. The client further agrees that, VRAMATH shall not be responsible for any kind of loss due to the suspension of the trading account.
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.
The client agrees to provide and continue to provide all details about themselves as may be required by VRAMATH, including but not restricted to PAN Number or Aadhar card or Unique Identification Number (issued by SEBI) , and states all details and facts represented to VRAMATH 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 VRAMATH may at any time be discontinued without further notice. VRAMATH and the Exchange do not make any representation or warranty that the Online Trading Service of VRAMATH 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 VRAMATH on account of any suspension, interruption, non-availability or malfunctioning of the Online Trading System or Service of VRAMATH or the Exchange's service or systems for any reason whatsoever.
VRAMATH 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.vramath.com for dealing in cash, Mutual Fund and derivatives segment of the exchange
The Client warrants that all or any of the securities deposited by him with VRAMATH in respect of margin requirements or otherwise, are owned by him and the title thereof is clear and free of encumbrances.
The Client warrants that all or any of the securities deposited by him with VRAMATH 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 VRAMATH 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 VRAMATH 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 VRAMATH or executed by VRAMATH on behalf of the Client. However, nothing herein shall oblige VRAMATH to take such steps.
The Client agrees to pay to VRAMATH brokerage, commission, fees, and the regulatory charges like, Exchange penalties, GST other taxes, stamp charges transaction expenses and clearing charges etc. as they exist from time to time and as they apply to the Client's account and transactions, and for the services that he receives from VRAMATH.
A schedule of brokerage, fees and commissions, applicable service and other taxes and other transaction expenses is displayed by VRAMATH on its website through the link given below and shall be provided by VRAMATH to the Client from time to time upon request by the Client.
The Client agrees that none of the services available on the website shall amount to investment advice on the part of VRAMATH.
The Client agrees that in the event of VRAMATH or any employee or official of VRAMATH, 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 VRAMATH shall not be liable or responsible for the same.
VRAMATH, and its officers, directors, partners, employees, agents and affiliates will have no liability with respect to any investment decisions or transactions of the client
VRAMATH 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 VRAMATH 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 VRAMATH or of the Exchanges or otherwise or for any other delay beyond the reasonable control of VRAMATH due to a breakdown or failure of communication facilities or for any other delay beyond the reasonable control of VRAMATH.
All modification to this Agreement shall be made solely at the discretion of VRAMATH 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.
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, VRAMATH 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 VRAMATH from any loss, injury, claim or any action instituted against VRAMATH arising from the misuse of the password by any party.
VRAMATH 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.
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.
All trades, transaction and contracts are subject to the Rules and Regulations of the respective Exchange on which the trades have been executed and shall be deemed to be and shall take effect as wholly made, entered into and to be performed as per the rules and regulations of the exchanges and the parties to such trade shall be deemed to have submitted to the jurisdiction as per the exchange rules, byelaws and regulations.
Further if the client at any time during the period of trading with VRAMATH or immediately after, any dispute or differences arises between the parties hereto in relation to or in connection with the terms and Conditions or policies and procedures of the Company, shall be referred to the Exchanges investor Grievance Redressal Mechanism. But, if at any time if there are any disputes or differences referred to the Courts, the Jurisdiction shall be the Courts of CHENNAI only.
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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