Microsec Capital Limited (MCL) maintains www.microseconline.in (hereinafter referred to as the "Website") and owns, has the license to use or otherwise has the right to use, free of any pending or threatened liens, all content, graphics, HTML and CGI or other scripts displayed and used on the Website.
MICROSEC has an online trading service on the Website (hereinafter referred to as the "Service"). MICROSEC has exclusive and sole discretion to select the Customers who would be entitled to use, access and benefit out of the Service. MICROSEC also reserves the absolute right and discretion to decide on the criteria for selecting the Customers to participate in the Service offered hereunder.
The offering of the Service is subject to the requisite permissions, approvals, licenses and any other clearance from the appropriate regulatory authority viz., Securities and Exchange Board of India, National Stock Exchange of India Limited, Stock Exchange, Mumbai and any other relevant authority that may be the regulatory authority of the Service.
MICROSEC and its Affiliates disclaim any warranty of any kind, imputed by the laws of any jurisdiction, whether express or implied, as to any matter whatsoever relating to the Service, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non infringement. The Services are subject to the jurisdiction only of the courts of the Republic of India at Kolkata.
Use of the Service is at any persons, including a Customer’s, own risk. The data and information provided on the Website is not advice, professional or otherwise, and should not be relied upon as such. Neither the information, nor any opinion contained in this Website constitutes a solicitation or offer by MICROSEC to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
MICROSEC along with its directors, employees, associates or other representatives and its Affiliates along with its directors, employees, associates or other representatives shall not be liable for damages or injury arising out of or in connection with the use of the Website or its non-use including non-availability, compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property (including without limitation loss of profits, loss or corruption of data, loss of goodwill), work stoppage, computer failure or malfunction, or interruption of business; under any contract, negligence, strict liability or other theory arising out of or relating in any way to the Website, site-related services, or any products or services and claims of third parties damages or injury caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information, whether resulting, in whole or in part, from or relating to any of the services offered or displayed by MICROSEC on the Website.
MICROSEC makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content on the Website. MICROSEC shall not be responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites. The links being provided to the Customer are only for convenience, and the inclusion of any link does not imply endorsement by MICROSEC of the site, or its content or the sponsoring organization. By providing access to other websites, MICROSEC is not recommending the purchase or sale of the securities issued by it nor is it an endorsement of services provided by its sponsoring organization.
The maximum liability of MICROSEC and its Affiliates to the Customer shall be subject to the amount of fees paid by the Customer for the services that he/she may have availed of through the Website or in pursuance of the Service.
MICROSEC shall not be liable for any misrepresentation, falsification, and deception or for any lack of availability of services through the Website, even if the same are advertised for on the Website.
MICROSEC shall not be liable if the Customer downloads any information or software from this Website. Further, company or its Affiliates shall not be liable if the Customer makes a copy, modifies, uploads, downloads, transmits, (re) publishes it or removes or obscures any intellectual property, including trademarks, copyright or other notices or legends contained in any such information or otherwise distributes any service or content from this Website. MICROSEC shall not bear the responsibility if the Customer modifies or uses the content or services he/she gets from this Website for any purpose other than those permitted, and in doing so violates the intellectual property including trademarks, copyright and other proprietary rights of MICROSEC.
This disclaimer shall be applicable to any person visiting/accessing the Website and/or a Customer entering into an agreement related to availing of the Service offered by MICROSEC and the company and its Affiliates.
The display, description or references to any products, services, publications or links on the Website shall not constitute an endorsement by MICROSEC of such products, services, publications or links.
Terms & Condition
Default Terms And Conditions
Terms & Conditions for Online – trading & other products offered on https://onlinetrading.microsec.in
I/We hereby declare that I/We have read the general & specific risk factors in online trading and the disclaimer of the Company in this regard.
I/We have read all the terms and condition for availing the online trading platform offered by Microsec Capital Ltd. on https://onlinetrading.microsec.in as detailed below:-
TERMS AND CONDITIONS GOVERNING INTERNET TRADING TRANSACTIONS ON
This document contains the terms and conditions (the "Terms") applicable to the opening and operation of your (hereinafter referred to as the "Client") account for utilising the Internet Trading services offered by Microsec Capital Ltd. (hereinafter referred to as the "MCL"), a trading member of National Stock Exchange of India Limited, (hereinafter Referred to as "NSE"),Bombay Stock Exchange Limited (hereinafter referred to as "BSE") and Metropolitan Stock Exchange of India Ltd. (hereinafter referred to as "MSEI") (NSE, BSE & MSEIare hereinafter individually referred to as "Exchange") and collectively referred to as the "Exchanges" and registered as a member with Securities and Exchange Board of India (hereinafter referred to as "SEBI") under certificate of registration no. INB231115933, INF231115933, INE 231115931 (in respect of NSE membership in Capital Market segment, Derivative Segment & Currency Derivatives segment),INB011115939, INF011115939 (in respect of BSE membership in Capital Market segment & Derivative Segment), INB 261115936, INF 261115936 & INE 261115933 (in respect of MSEI membership in Capital Market segment, Derivative Segment & Currency Derivatives segment)
The Client agrees and understand 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 the MCL. The Client will not hold MCL 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 MCL or any other agency appointed/authorised by MCL. The Client should seek independent professional advice regarding the suitability of any investment decisions. The Client also acknowledges that employees of MCL are not authorized to give any such advice and that the Client will not solicit or rely upon any such advice from MCL or any of its employees.
USER NAME AND PASSWORD/ACCESS TO THE INTERNET TRADING SYSTEM:
The Client will be allotted a Username, Password and a PIN, which enables to establish the identity of theClient, at the time of accessing the MCL’s Internet Based Trading System for availing the services.
The Client agrees to provide the required login information, which shall be used by the MCL toestablish the identity of the Client at the time of accessing the MCL’s Internet Based Trading Systemand also at the time of availing the services offered by MCL.
The Information given may be used by MCL to ensure the bonafide identity of the client and theprivacy of information is being maintained.
The Client is aware that the MCL’s Internet Based Trading System itself generates the initial passwordand that MCL is aware of the same.
The Client agrees and undertakes to immediately change his initial password upon receipt thereof.
The Client is aware that subsequent passwords are not known or available to MCL.
The Client shall be responsible for keeping the Username Password and login information confidential andsecure and shall be solely responsible for all orders entered and transactions done by any person whosoeverthrough MCL’s Internet Based Trading System using the Client’s Username and/or Passwordwhether or not such person was authorised to do so.
1. The Client shall immediately inform MCL of any unauthorised use of the Client’s Usernameand/or Password and/or login information with full details of such unauthorised use including the date ofsuch unauthorised use, the manner in which it was unauthorisedly used, the transactions effected pursuantto such unauthorised use, etc.
2. The Client acknowledges that he is fully aware of and understands the risks associated with availing of aservice for routing orders over the internet including the risk of misuse and unauthorised use ofhisUsername and/or Password and/or login information by a third party and the risk of a person hackinginto the Client’s account on the MCL’s Internet Based Trading System and unauthorisedly routingorders on behalf of the Client through the System.
3. The Client shall log off from the Internet Based Trading System and Browser application as well, at anytime the Client is not accessing or using the Service and any liability incurred to the Client as aconsequence of the Client not logging off the Service shall be borne solely by the Client.
4. Without prejudice to the provisions of above Clauses, the Client shall immediately notify MCL inwriting with full details if:
• discovers or suspects unauthorized access through his Username, Password, or account,
• notices discrepancies that might be attributable to unauthorized access,
• forgets the password or
• discovers a security flaw in MCL’s Internet Based Trading System.
5. In any of the above events specified in the above Clauses, the Client shall immediately changethe Password. However, if the Client is unable to change the Password by reason of having forgotten the Password or Password having been unauthorisedly changed by some other person or for any otherreason, then the Client shall immediately request MCL in writing to discontinue old Password;and thereupon MCL shall cause MCL’s Internet Based Trading System to discontinue the useof the Client’s old Password and the MCL's Internet Based Trading System shall generate a newPassword for the Client which shall be communicated to the Client. At no point in time shall MCL be liable for any loss, whether notional or actual, that may be suffered by the Client on account of themisuse of the Password.
6. The Client shall memorise the login information and not to record it in written or electronic form. It shallbe the Client's sole risk and responsibility if the Client do record the login information in written orelectronic form.
7. The Client agrees to choose a Password that must contain a mix of alphabets, numbers, and specialcharacters, which must not be readily accessible personal data or guessable combination of letters andnumbers.
8. The Client agrees to install the necessary safeguards and access restrictions to prevent unauthorized useof computer system and ensures that no other person except the client shall gain the access to the computersystems.
TRANSACTIONS AND SETTLEMENTS:
All orders for purchase, sale or other dealings in securities and other instructions routed through MCL’s Internet Based Trading System via the Client’s Username shall be deemed to have been givenby the Client.
1. The orders and instructions and all contracts and transactions entered into pursuant thereto and thesettlement thereof will be in accordance with the Exchange Provisions.
2. MCL may from time to time impose and vary limits on the orders, which the Client can placethrough MCL’s Internet Based Trading System (including exposure limits, turnover limits, limits asto the number, value and/or kind of securities in respect of which orders can be placed, the companies inrespect of whose securities orders can be placed, etc.). The Client is aware and agrees that MCL mayneed to vary or reduce the limits or impose new limits urgently on the basis of MCL’s riskperception and other factors considered relevant by MCL. The Client agrees that MCL shallnot be responsible for such variation, reduction or imposition or the Client’s inability to route any orderthrough MCL’s Internet Based Trading System on account of any such variation, reduction orimposition of limits. The Client understands and agrees that MCL may at any time, at its solediscretion, prohibit or restrict the Client’s ability to place orders or trade insecurities through MCL’s Website.
3. Though orders will generally be routed to the Exchange’s computer systems within a few seconds fromthe time the order is placed by the Client on MCL’s Internet Based Trading System, MCLshall not be liable for any delay in the execution of any order or for any resultant loss on account of thedelay.
4. The Client agrees that MCL may, at its sole discretion, subject any order placed by a Client tomanual review and entry, which may cause delays in the processing of the Client’s order or may result inrejection of such order.
5. In case of a market order, the Client agrees that he will receive the price at which his order is executedby the Exchange’s computer system; and such price may be different from the price at which the security istrading when his order is entered into MCL’s Internet Based Trading System
6. The Client authorizes MCL to Close-out / square-off all his outstanding positions, which are notmarked for delivery 15 minutes before closing time on the normal market. Any profit/loss arising out ofsquare off shall be at the sole risk of and borne by the Client.
7. The Client acknowledges and agrees to be solely responsible for all orders communicated through MCL’s Internet Based Trading System, and neither MCL nor any of MCL’s directors, officersor employees shall be liable to the Client, or to any other person claiming under or through Client, for anyclaims made with respect to the receipt and execution of any such orders.
8. If Client resides or gives any orders to MCL from outside India, Client agrees to ensure andrepresent that such orders will have been given in compliance with any and all applicable law of therelevant jurisdiction from which Client orders are given, and Client further agrees that Client shall, when,in doubt consult or obtain legal and professional advice in or of the relevant jurisdiction. Client accepts thatthere may be taxes, duties, impositions or charges payable to relevant authorities in respect of Clientresiding or the giving of any order from outside India and the execution of such order, and Client agrees topay such taxes, duties, impositions or charges as are applicable. Client further agrees to indemnify MCL on demand for any claims, demands, actions, costs and expenses MCL may suffer or incur in connectionwith or arising from Client residing or giving of any such order from outside India.
9. The Client agrees to notify MCL in advance, in case of sale order where Client does not ownsecurities (i.e. short selling).
10. MCL shall have an absolute discretion to accept or reject any order or the execution of anyorder until (as the case may be) there are sufficient cleared funds or sufficient securities in the Client'sAccount, for settlement of the relevant Transaction.
11. The Client acknowledges and agrees that MCL and MCL’s directors, officers, employees, andagents shall not be responsible or liable for any loss suffered or which may be suffered by Client, arisingfrom any delay or failure in the transmission, receipt, execution or confirmation of orders due to anybreakdown, interruption or failure of transmission of the Internet, computer network, software, hardware,other computer devices, Internet system and any problem arising from the Client’s side.
12. The Client agrees to indemnify fully and hold harmless MCL for any losses arising from theexecution of order and / or instructions that got entered through the system at the Client‘s end.
13. Losses due to delay in delivery of securities by the Client at the time of trade, shall be borne solelyand completely by the Client. Losses for the purposes of this clause shall include auction debits, if anyincurred as a result of non-delivery of securities on the settlement date to the exchanges.
14. The client agrees MCL may impose scrip wise surveillance or such other conditions as to scrip wise limits, etc. The client also understands that MCL may impose various surveillances which may differ from client to client on the basis of the MCL’s risk perception and other factors considered relevant by MCL.
15. When the Client places a request to cancel an order, the cancellation of that order is not guaranteed. Theorder will only be cancelled if the Client’s request for cancellation is received and the order is successfullycancelled before such order gets to be executed.
16. The Client shall not be entitled to presume an order as having been executed or cancelled until the Clientreceives a confirmation message from MCL's Internet Trading System.
17. The Exchange(s) have the authority to cancel a trade suo-moto without giving a reason therefor. In theevent of such cancellation, MCL shall be entitled to cancel the relative contract(s) with the Client MARGIN:
1. The client shall maintain such quantity of securities and such amount of cash in credit balance (hereinafter referred to as margin) as required by applicable statute, rules, regulations, procedures or as deemed necessary or advisable by MCL Provided that the margin shall not be at any time less than the specified haircut of MCLof admitted securities proposed to be purchased or sold. In case of shortfall of Margin, MCL may close-out / square-off the Client's positions or liquidate any securities placed by the Client.
2. The Client agrees and undertakes to immediately deposit with MCL such cash, securities or otheracceptable security, which MCL may require as margin. The Client agrees that MCL shall beentitled to require the Client to deposit with MCL a higher margin than that prescribed by theExchanges. MCL shall also be entitled to require the Client to keep permanently with MCL amargin of a value specified by MCL so long as the Client desires to avail MCL’s InternetBased Trading System.
3. The Client shall make the prescribed initial margin in the form of cash and/or in the form of securities(the “Margin”) with MCL simultaneously at the time of opening of the account and prior tocommencement of trading. The Client shall be permitted to trade upto a predetermined number of times ofthe Margin (the “Multiple”) and the quantum of the Multiple on the Margin shall be as decided at the solediscretion of MCL. The Margin is not interest bearing. MCL can set off whole or part of theMargin against any dues of the Client.
The client is also aware that MCL 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 MCL on the basis of MCLs' Risk perception and other factors considered relevant by MCL. However, there may be circumstances when the deposits made by MCL with the Exchange may not be sufficient in times of extreme volatility and trading terminals of MCL 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 MCL for any loss that they might incur on account of such suspension of trading.
4. MCL shall execute the trades only upon the realization of the cheques given by the Client.
5. MCL may at its sole discretion prescribe the payment of Margin in the form of cash instead of or in addition to margin in the form of securities. The Client accepts to comply with the requirement of MCL 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.
6. The Client agrees that any securities/cash placed by him/her/it as margin may in turn be placed as margin by MCL with the Exchanges/Clearing Corporation. The Client authorises MCL to do all such acts, deeds and things as may be necessary and expedient for placing such securities/cash with the Exchanges/Clearing Corporation as margin.
7. The Client’s positions are valued at the latest market price available (mark to market) on a continuousbasis by MCL. If on such mark to market the loss incurred by the Client is more than the Marginavailable with MCL, the Client shall instantaneously pay additional Margin.
The Client agrees to pay brokerage, Exchange related charges, statutory charges and any othercharges (including but not limited to security handling charges on settlement) as they exist from time totime. The brokerage shall be paid in the manner intimated by MCL to the Client from time to timeincluding as a percentage of the value of the trade or as a flat fee or otherwise, together with the service taxas may be applicable from time to time on the same. The Client further agrees to pay any applicable levies, taxes, duties that may be levied on the transaction.
ELECTRONIC COMMUNICATION OF DOCUMENTS:
1. MCL shall send to the Client by electronic means the contract note/trade confirmation of thetrades executed, bill and account statement. The Client agrees that MCLfulfils its legal obligationto deliver to the Client any such document if sent via electronic delivery. All information contained thereinshall be binding upon the Client. The Client shall lodge objection, if any, in writing or via electronic mail within a reasonable time period (30 days). The Client agrees that MCL will not be responsible for non-receiptof documents sent via electronic delivery due to change in email address of the Client. The Clientalso agrees that MCL shall not take cognizance of out ofoffice/ out-of-station auto replies and theClient is deemed to have received such electronic mails. Non receipt of bounced mail notification by MCL shall be treated as delivery of e-mail to the client.
2. The Client is responsible for the accuracy of information supplied to MCL through the use of theInternet trading facility or through such other means like electronic mail or any written communication.MCL accepts no liability for consequences arising out of the erroneous information supplied bythe Client. In case the Client suspects that an error in the information has been submitted by him, he shallon an immediate basis intimate the same to MCL.
3. This electronic communication may be in the form of email or an emailattachment or in the form of a download available on the website. The Client shall download the saiddocument promptly on intimation of the notice. RISK ASSOCIATED WITH INTERNET TRADING:
The Client acknowledges and accepts that the internet is an inherently unreliable medium ofcommunication and provision of information services due to the public nature of the communication andthat the accuracy, reliability and soundness of such means of communication and provision of servicesdepends upon, amongst others, the service provides and the telephone, modem, cables systems, facilitiesand the like used and operated from time to time by such providers and other participants. Clientacknowledges and further accepts that, as a result of such unreliability, there are risks associated in usingsuch means of communication including the congestion, breakdown, interruption or failure of transmissionof the internet service or any communication equipment or facilities, errors, omissions or delays in thetransmission and receipt of orders and other data and information and in the execution and confirmation oforders and /or the execution of orders at prices which may be different from those indicated on the serviceor prevailing at the time the orders were given. There are also other risks involved such as in theunauthorized access, tampering, modification or alteration of the service and /or the system componentsand software used or comprised in the service which may result in the use, manipulation, retrieval or thetheft or loss of data and information, including Client personal data.
The systems used by MCL for providing Internet Broking services are generally capable ofassessing the risk of the Client as soon as the order comes in. However, due to any reason whatsoever, ifthe order is processed without sufficient risk cover from the Client, Client shall be bound by such trade andshall provide such amounts as may be required to meet his liability under the trade. Representations and Warranties:
The Client hereby warrants that he is capable of executing the present document 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 document.
He agrees to provide and continue to provide all details as may be required by MCL, including but not restricted to PAN or Unique Identification Number (issued by SEBI) , and states all details and facts represented to MCL 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 MCL may at any time be unavailable without further notice. MCL and the Exchange do not make any representation or warranty that the Online Trading Service of MCL 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 MCL on account of any suspension, interruption, non-availability or malfunctioning of the Online Trading System or Service of MCL or the Exchange's service or systems for any reason whatsoever.
MCL states that it has complied with and will continuously comply with all statutory and regulatory directions to offer the Internet Trading services through the website www.MCL.com and for dealing in cash and derivatives segment of the exchange.
The Client warrants that all or any of the securities deposited by him with MCL 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 MCL 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 MCL 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 MCL or executed by MCL on behalf of the Client. However, nothing herein shall oblige MCL to take such steps.
1. The Client acknowledges that MCL shall not be liable to provide him with any legal, tax,investment or accounting advice or advice regarding the suitability or profitability of a security orinvestment.
2. The Client also acknowledges that MCL’s employees are not authorized to give any such adviceand that the Client will not solicit or rely upon any such advice from MCL or any of its employees.
3. The Client agrees that in the event of MCL or any employee or official of MCL providingany information, recommendation or advice to the Client, the Client may act upon the same at the sole riskand cost of the Client, and MCL shall not be liable or responsible for the same.
4. The Client assumes full responsibility with respect to his investment decisions and transactions.
5. MCL, its officers, directors, partners, employees, agents and affiliates will have no liability withrespect to any investment decisions or transactions of the Client. MARKET DATA AND USE OF WEB CONTENT:
1. The Client understands that each participating Exchange or association or agency asserts a proprietaryinterest in all of the market data it furnishes, directly or through MCL or otherwise. The Clientunderstands that the Exchange or MCL does not guarantee and shall not be deemed to have guaranteed,the timeliness, sequence, accuracy or completeness of market data or any other market information, or anymessages disseminated by it. Neither MCL nor the Exchange shall be liable in any way for incorrect,misleading, incomplete or outdated data or information and, if the Client acts on the basis of the same, heshall do so at his own risk and cost. The Client shall use the quotes received on the web site of MCLonly for the Client's individual use and shall not furnish such data to any other person or entity. The Clientis authorized to use materials which are made available by MCL's web site for the Client's ownneeds only, and the Client is not authorized to resell access to any such materials or to make copies of anysuch materials for sale or use to and by others.The Client shall not delete copyright or other intellectualproperty rights, notices from printouts of electronically accessed materials from MCL's web site.
2. The Client shall not furnish market information provided by the Exchange to any other person or entityfor consideration or otherwise and in the event the Client uses such information, he shall do so at his ownrisk and cost. Miscellaneous:
MCL 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 MCL 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 MCL or of the Exchanges or otherwise or for any other delay beyond the reasonable control of MCL due to a breakdown or failure of communication facilities or for any other delay beyond the reasonable control of MCL.
All modification to this terms and conditions shall be made solely at the discretion of MCL and shall be intimated to the client on the website or in any other manner. Indemnity:
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, MCL 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 MCL from any loss, injury, claim or any action instituted against MCL arising from the misuse of the password by any party. Force Majeure:
MCL 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. SEVERABILITY:
In the event of any provisions of thisdocument being held to be or becoming invalid, unenforceable orillegal for any reason, the document shall remain otherwise in full force apart from the said provision,which will be deemed deleted. The parties shall however attempt to replace the deleted provision with alegally valid provision that reflects the same purpose as the deleted provision to the greatest extent possible WAIVER:
No forbearance, relaxation or inaction by any party at any time to require the performance of any provisionof this document shall in any way affect, diminish, or prejudice the right of such party to require theperformance of that or any other provision of this document or be considered to be a waiver of any right,unless specifically agreed in writing. LAW AND JURISDICTION:
The terms and conditions shall be governed by and construed in all respects in accordance with the laws of theRepublic of India and, subject to the provisions of "Dispute Resolution" mentioned herein below, thecourts at Kolkata, India shall have jurisdiction and the arbitration proceedings inrelation to this document.
This document and all contracts and transactions between MCL and the Client pursuant hereto shallbe subject to the Exchange Provisions, the Rules, Bye-Laws, Regulations, and other provisions of itsclearing house, if any, the provisions of the Securities and Exchange Board of India Act, 1992, theSecurities Contracts (Regulation) Act of 1956 and the rules and regulations made there under and asamended from time to time. DISPUTE RESOLUTION:
Any claim, dispute or difference arising between the Parties hereto in respect of this document or anycontracts, dealings or transactions pursuant hereto or any rights, obligations, terms or conditions ascontained in this document or the interpretation or construction thereof shall be subject to thegrievance redressal procedure of the Exchange and shall be subject to the arbitration procedure asprescribed by the Exchange Provisions. Notice:
All notices, correspondences or communications issued 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 such as -
1. By hand
2. Delivery by post
3. By registered post
4. By email or fax
5. By affixing it on the door at the last known business or residential address.
6. By oral communication to the party or on the last known telephone number or on the recording machine of such number.
7. By advertising in at least one prominent daily newspaper having circulation in the area where the last known business or residential address of the party is situated.
8. By notice posted on the notice board of the Exchange if no address is known. Any communication sent by MCL to the Client shall be deemed to have been properly delivered or served, if such communication is returned on MCL as unclaimed / refused / undelivered, if the same was sent in any one more of the above modes of communication to the ordinary place of residence and / or last known web address /residing address and / or at the ordinary business address of the client.