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 www.invezta.com and mobile application on iOS and android platforms.
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 and transaction agreement sets forth the terms upon which
Client avails investment recommendation and transaction from Invezta platform.
Agreement
This Investment Platformy 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 901, 9th Floor Coral Square, Near Suraj Water Park Vijay Garden Naka,
Ghodbunder Road, Thane West, Thane - 400615.
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 mutual fund distributor registered with AMFI
under ARN no - 171537
The Client is desirous of obtaining
Investment recommendation and online execution services from Invezta platform
The Client has satisfied itself that Invezta
platform possesses requisite level of knowledge and competence to provide online investment recommendation
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 Platform & Transaction Services to be provided.
NOW THIS AGREEMENT WITNESSETH AND IT IS
AGREED BY AND BETWEEN THE PARTIES AS UNDER:
Mutual Fund Services
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 Invezta Investment Platform . I/We will
be held responsible for investments made in the AMCs not communicated by Invezta Investment Platform . 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 Invezta Investment Platform for any liability
Invezta Investment Platform 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
Invezta Investment Platform Investment Account as mentioned below
9) I/We hereby give my/our consent for capturing and tagging the
ARN No.171537 of Valuefy, for all new purchases made through online transactions through Invezta
Investment Platform.
Terms and Conditions - Invezta Investment Account facility for investments in mutual funds
This "Invezta Investment Account" facility ("Invezta
Investment
Platform") 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 a registered distributor of
mutual funds with AMFI with ARN code 171537, and registered with the Securities and Exchange Board of
India ("SEBI") as an Investment Platform under SEBI(Investment Advisers) Regulations,
2013("IA
regulations") vide RIA code INA000000060 dated 2nd August 2013.
VALUEFY is registered with various AMCs as an Mutual Funds Distributor and shall facilitate online
transactions in mutual funds for its clients through its website
www.invezta.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.
Invezta Investment Platform 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, Invezta Investment
Platform 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 Invezta Investment Platform , 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 Invezta Investment Platform.
1.
Registration Related Conditions
i. The Registration to Invezta Investment Platform 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. Invezta Investment Platform can be activated for KYC
Registration Agency (KRA) verified investors only. Accordingly while enrolling for the Invezta
Investment Platform 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 Invezta Investment Platform 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
Invezta Investment Platform account would be activated. The account can be operated using your Invezta
Investment Platform 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 INVEZTA 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 Invezta Investment Platform 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 Invezta Investment Platform 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 Invezta Investment Platform 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 Invezta
Investment Platform 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 Invezta
Investment Platform 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 Invezta Investment
Platform 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 Invezta Investment Platform account.
xi. You acknowledge that dealing through the Invezta Investment
Platform 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 Invezta Investment Platform 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 Invezta Investment Platform Account to
virus(es) or other malicious, destructive or corrupting codes or programs.
You agree that by use of Invezta Investment Platform , 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 VALUEFY/ 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 - Invezta Investment Platform 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 Invezta Investment Platform 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 Invezta Investment
Platform . 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
Invezta Investment Platform will be tagged with the ARN Code of VALUEFY (171537) will be treated as
regular.
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 Invezta Investment Platform .
Invezta Investment Platform shall not be liable for rejections of such applications by Mutual Funds,
where investor is an US and Canada resident.
xxvii. Invezta Investment Platform 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 Invezta Investment Platform tagged with the AMFI Registered ARN Code of VALUEFY (171537).
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 Invezta Investment Platform 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 Invezta Investment Platform .
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 Invezta Investment Platform / 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 Invezta Investment Platform
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 Invezta Investment Platform 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. Invezta Investment Platform 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 Invezta Investment Platform 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 recommendation and therefore should not be relied upon while taking
investment decisions. You are therefore advised to obtain applicable legal, accounting, tax or other
professional recommendation 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 Invezta Investment Platform and that use of this service is at his /her own risk. Further he / she
understands that Invezta Investment Platform does not warrant completeness or accuracy of the
information provided and Invezta Investment Platform 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
Invezta Investment Platform 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 platformy services or
any kind of legal, tax or financial recommendation. 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 Invezta Investment
Platform 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 Invezta Investment Platform 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 Invezta Investment Platform account
will be uninterrupted or free from errors or that any identified defect will be corrected;
b. that the Invezta Investment Platform 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 Invezta Investment Platform 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 Invezta Investment Platform 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 Invezta
Investment Platform / VALUEFY and is based on Invezta Investment Platform / VALUEFY's understanding of
assessing risk and suitability in line with the objectives and requirements of the Client as per the
details provided. Invezta Investment Platform / 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 Invezta Investment Platform / 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. Invezta Investment Platform / 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 Invezta Investment Platform /
VALUEFY to the Client is not to be construed as investment recommendation of any type. Invezta
Investment Platform / VALUEFY is not obliged to give any recommendation 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 Invezta
Investment Platform / 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 Invezta Investment Platform / 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 platforms 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 Invezta Investment Platform / 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. Invezta Investment Platform / 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 Invezta Investment Platform / 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 Invezta Investment Platform / VALUEFY of
any material change in its/his/her situation and/or profile and Invezta Investment Platform / VALUEFY is
entitled to rely on the most recent information provided by the Client.
xiv. Investors who subscribe for Invezta Investment Platform
premium services hereby understands that he/she needs to pay entire annual platformy 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 platformy fees in his Invezta Investment Platform account only for period wherein the
portfolio of schemes recommended by Invezta Investment Platform underperforms the category average
return. Invezta Investment Platform would evaluate the recommended portfolio performance with category
average return at the end of every quarter. For example - If the portfolio recommended by Invezta
Investment Platform underperforms in one quarter in a year, investor will get credit for amount that is
equal to the platformy fees for 1 quarter. The Client also understands that the Platformy fees exclude
transaction and platform fees. The Client can redeem this credit while subscribing to any services on
Invezta Investment Platform.
xv. The Client who subscribe for any services on Invezta Investment
Platform 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 invezta.com, his/her email id and mobile number registered with
Invezta Investment Platform. In case of any change in his/her email id and/or mobile number, he/she
shall inform Invezta Investment Platform 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 Invezta Investment Platform 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 Invezta
Investment Platform, 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, Invezta Investment Platform may obtain information including that of a confidential
nature and that this information will be used by Invezta Investment Platform for its internal purposes
and will be kept confidential. He/She understands that Invezta Investment Platform reserves the right to
disclose personal information where it believes in good faith that such disclosure is required by law.
xx. The Client agrees to be contacted by Invezta Investment
Platform and its representatives over phone or on registered email id with reference to the service.
xxi. 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.
xxii. 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 Invezta Investment
Platform. He/She shall take steps to deregister from the DND list and shall not held Invezta Investment
Platform liable for non-receipt of SMS in the interim period.
xxiii. The Client confirms having read, accepted and understood the
features of the subscription plan, applicable charges, privacy policy, related FAQs and the Standing
Instructions.
xxiv. The Client agrees to the above Terms & Conditions and hereby
authorize Invezta Investment Platform to debit his Bank Account linked to his/her Invezta Investment
Platform account towards subscription charges (including taxes).
xxv. The Client understands that he/she can close the Invezta
Investment Platform account or unsubscribe to any services anytime by writing an email
on
contact@invezta.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 Invezta Investment Platform 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 Mutual fund intermediaries (Registered Investment Platforms).
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).
15. Commissions
Following are the details of the commission earned by Valuefy Solutions Private Limited from various fund-houses:
* All equity funds includes flexi cap funds, Aggressive Hybrid, large, mid & small cap funds, international funds etc
** All debt funds includes Gilt, Income, short term & corporate bond funds, floating rate funds etc
^ Product providers share commission on a trial only basis. The above rates are on annualized basis
For investors in Mutual Funds from B-30 locations, an additional commission of 0%-1.5% will be paid from AMC's
The disclosure is in accordance with SEBI circular no SEBI/IMD/CIR No. 4/ 168230/09 and RBI circular no DBOD.No.FSD.BC.60/24.01.001/2009-10 dated 16/11/2009
Asset Management Company (AMC) may change rates, periodically etc. of commission /trail commission in case of change in regulations / expense ratio and any other factors which have an impact.
Details of Scheme level commission on Mutual funds are available with the Relationship Managers and would be produced on demand.
Valuefy Solutions Private Limited acts as a distributor of Mutual Funds wherein it distributes products of various mutual funds.
Note: All commissions are earned only in trail.