Wallet Advisors Private Ltd. – Terms and Conditions for an Investment Services Account
Wallet Advisors Private Ltd. (“WAPL”) is in the business of distribution of financial and insurance products through its online technology platform. WAPL requests you to carefully go through these Terms and Conditions (“Terms & Conditions”) to avail access to the distribution network of WAPL through its online technology platform. Fundzpark is the registered trademark of WAPL.
By registering with WAPL, you irrevocably and unconditionally accept all the obligations stipulated in the Terms & Conditions and agree to abide by them. Accessing the distribution network of WAPL on its online technology platform through any medium, including but not limited to the websites http://www.fundzpark.com (“WAPL Websites”), on mobile phones and such other devices, is also subject to these Terms & Conditions.
These Terms & Conditions supersede all previous oral and written terms and conditions (if any) communicated to you.
I/We hereby agree to avail the service of access to the distribution network of WAPL through its online technology platform for the purchase and redemptions of units of mutual funds listed on the WAPL Websites by me/us, on the Terms & Conditions mentioned herein (the “Services”).
I/We agree that WAPL and / or the mutual fund may, at its sole discretion, vary the Terms & Conditions, or withdraw any of the facilities provided herein from time to time.
I/We, hereby, irrevocably and unconditionally, grant my/our no objection to WAPL and the respective mutual funds to collate transaction details relating to the investments in mutual fund units done by me/us on the online technology platform of WAPL, and transmit such transaction data to the concerned Asset Management Company (“AMC”) / mutual fund for further processing of my/our transactions.
02 Heading pending
Registration and transactions Access to the distribution network of WAPL for the transactions of purchase, switch, and redemption of mutual fund units will be granted by WAPL only to customers who have a registered Investments Services Account (“Registered Customers”) with WAPL.
I/We agree and acknowledge that the Services provided herein are presently available in respect of select Mutual Funds only with whom WAPL has entered into a separate arrangement. Registered Customers will be able to only purchase, redeem, and switch mutual fund units through this service.
I/We agree and understand that no change of address, mobile number, e‐mail ID, and / or bank details can be allowed for such accounts, unless a duly signed hard copy of such a written request is sent to the AMC / CAMS / POS for signature verification and other formalities.
I/We agree that any and / or all information that may be provided by me/us to WAPL from time to time, including but not limited to contact information, address and tax‐related information, or any other information required under existing or future KYC, or other norms and laws, may be shared by WAPL with the mutual funds/AMCs, or their respective authorized service providers, auditors, legal and tax consultants in compliance with the extant legal provisions from time to time. There may be an exit load applicable to certain mutual fund schemes. This is mentioned in the respective offer documents, including the Scheme Information Document (SID) / Key Information Memorandum (KIM) and addendums issued thereto from time to time (collectively referred to as “scheme related documents”).
I/We shall read all the scheme related documents before investing.
Investments from persons from the United States of America (“U.S.”) and Canada may not be permitted in certain mutual funds. WAPL/ AMCs/their respective trustee companies shall not be liable for rejection of an application by mutual funds, where the investor is a U.S. person and/or a Canadian person or such other prohibited investor as may be specified in the respective scheme related documents from time to time. Purchase requests made through WAPL’ online technology platform shall be processed by the respective mutual funds/AMCs only after funds sufficient to cover the purchase price, and other costs and charges have been received by the respective mutual funds/AMCs. Payments towards the purchase price and other costs and charges shall be made by Registered Customers directly in the name of the respective mutual fund scheme(s) through the payment gateway made available by WAPL on the online technology platform. If, for any reason, the mutual fund is unable to allow a transaction for purchase or redemption of the full quantity of units such as transacted by a Registered Customer through the online technology platform of WAPL, the respective mutual fund/AMCs shall be entitled to process a lesser quantity of units being purchased or redeemed (as the case may be) by such Registered Customer. In such a case, neither WAPL nor the AMCs, or their respective trustees shall be responsible for the non‐execution of transactions for the entire quantity or the remaining quantity of units. Transaction rights for Systematic Investment Plans (“SIPs”) will be pursuant to the Registered Customer executing the instructions, in the manner and form as prescribed by WAPL and / or mutual funds on the online technology platform from time to time. The instructions will be applicable to all SIP transactions, whether presently existing, or to be opened in future.
I/We agree that, upon granting such instructions for SIP transactions, I/We will be bound by the terms of the relevant SIP scheme of the mutual fund to which I/we subscribe.
I/We agree and acknowledge that any transaction done or purported to be done by me/us before the cut-off time on a business day as may be intimated by WIFS to me/us from time to time, would be processed on the same day.
Any transactions done on the online technology platform of WIFS after the prescribed cut-off time will be deemed to be received on the next working day and will be processed accordingly.
I/We acknowledge that the units of the scheme shall be allotted, redeemed or switched, as the case may be, by the respective mutual funds / AMCs at the applicable Net Asset Value (“NAV”) of the concerned mutual fund scheme as specified by WAPL, in consistence with the terms of the scheme.
However, WAPL shall not be liable for any loss that may arise to me/us as a result of incorrect NAV applied on units allotted to me/us by the mutual fund.
I/We acknowledge that any transactions done on a holiday would be processed on the next business day and the NAV would be applicable as per the respective scheme related documents.
I/We acknowledge that transactions once placed cannot be cancelled.
I/We acknowledge that any application for redemption, purchase, or exchange, or any other instruction must be correct, complete, clear, and unambiguous in all respects, and should conform to the prescribed procedure/documentation and regulatory requirements, failing which, WAPL / the AMC reserve the right to reject the same, and in such a case, WAPL / the AMC / the trustee shall not be responsible for any consequence arising therefrom.
I/We have read and understood the contents of the scheme related documents and the details of the scheme, and I/we have not received or been induced by any rebate or gifts, directly or indirectly,in making investments.
I/We hereby declare that the amount invested/to be invested by me/us in the scheme(s) of the mutual fund is derived through legitimate sources and is not held or designed for the purpose of contravention of any act, rules, regulations, or any statute or legislation, or any other applicable laws or any notifications, or directions issued by any governmental or statutory authority from time to time.
The ARN holder has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to him for the different competing schemes of various mutual funds from amongst which the scheme is being recommended to me/us.
03 No objection to WAPL
I/We grant my/our no objection to WAPL to do or perform upon my/our placing of transaction requests on the online technology platform of WAPL and at my/our risk and cost, all or any of the following acts, deeds, matters and things:
a. To forward my transaction data and requests to the respective mutual funds/AMCs with respect to my instructions and orders of sale, purchase, transfer, splitting, and consolidation of mutual funds units.
b. To transmit to the mutual fund and/or the corresponding AMC, information relating to my/our nomination / changes in investment plan / any other changes made through the online platform.
c. To obtain and forward to the AMC/its Authorized Registrar my/our information as available in the KYC records, including my signature. I/We agree that such records may be used by the AMC/Authorised Registrar for authorizing the transactions that may be submitted by me/us in physical/offline mode
d. To contact me/us regarding matters pertaining to the operation of my account including, but not limited to, servicing of my requests, communication of special offers, new product launches, and product recommendations. This consent will override any registration for DNC / NDNC.
04 Heading Pending
Multiple Investors in a Single WAPL User Account I/We acknowledge that for a single WIFS User Account (“Account”), I/we can add multiple investors for separate transactions in different mutual fund schemes, subject to applicable KYC norms for such additional investors.
I/We agree that if I am/we are the account holder, I/we must specify the name of investor(s) for every transaction performed in the Account.
When I/we are adding such “additional investor(s)” to my/our Account, I/we acknowledge that, the additional investor(s) has seen and accepted all the Terms and Conditions accepted by the account holder.
If I am/we are being added to an account as an “additional investor”, I/we acknowledge that I/we have seen and accepted all the Terms and Conditions accepted by the account holder.
I/We further acknowledge that if a transaction is performed from an Account with an additional investor(s) in such an Account, such transaction will be deemed to be made jointly with the additional investor(s) and will be binding on such additional investor(s).
I/We agree that all transactions made with regard to the Account will be binding on all investors mentioned in such Account/transactions, as the case may be.
05 Communication of instructions
In the event an Account has multiple investors mentioned in such Account,
I/we acknowledge that all instructions (including instructions for modification of this clause) shall be given only by the first holder of such an Account, on behalf of both/all of us.
All instructions given by the first holder above shall be binding on both/all as if given by each of us personally.
I/We agree that the instructions may be for the purchase of units in the sole name of the first holder, or in the name of the first holder jointly with another person to the exclusion of the second or the third holder.
I/We hereby authorize WAPL/AMCs to process and transmit such instructions given from time to time in relation to my/our transactions to the respective mutual funds/AMCs. The transactions for purchase or redemption of units may be done through the online method as required by WAPL
I/We agree that WAPL/AMC reserves the right to remove or add any method of making instructions for purchase or redemption of the units at any time at WAPL’/AMCs’ discretion.
I/We agree that WAPL/AMC shall always have the right to change the modes of instructions for purchase, switch, or redemption of units.
I/We agree and acknowledge that units purchased by giving instructions through any of the above modes will be deemed to be accepted for redemptions through the same mode only.
WAPL may refuse to transmit transaction data for clients unless they are given in a manner and form acceptable to WAPL and in accordance with WAPL right to verify such transactions.
However, WAPL shall have no responsibility to determine the authenticity of any transactions done or purported to be done by me/us.
I/We shall not hold WAPL liable on account of WAPL acting in good faith on any of/our transactions done or purported to be done by me/us.
The mutual funds/AMCs may, at its discretion, not give effect to my/our transactions where the mutual fund/AMCs/PLave reason to believe (which decision of mutual fund / AMCs /WAPL I/We shall not question or dispute) that the transactions are not genuine or are otherwise improper, ambiguous or unclear or raise a doubt. WAPL/AMC/mutual fund/trustee of the AMC shall not be liable for any losses including, but not limited to, the loss of any opportunity costs incurred by me/us, if any, transactions are not carried out for any reasons whatsoever.
I/We agree to indemnify WAPL, AMC, trustees to the AMC, its respective officers, directors, employees, and agents against any improper/ fraudulent transactions, improper/fraudulent fund transfer transactions done or purported to be done by me/us on the online technology platform / payment gateway provided by WAPL.
WAPL/AMC shall not be obliged to accept from me/us any oral instructions for carrying out any transactions in mutual fund units. Further WAPL, AMC, trustees to the AMC, its respective officers, employees, and agents shall be indemnified for and held free and harmless from and against any and all costs, claims, losses or liabilities of any nature (direct or indirect) resulting from the act of purchase, redemption, or switch of mutual fund units, together with any and all attendant costs and expenses including reasonable legal fees and expenses, that WAPL /AMC, trustees to the AMC, its respective officers, employees, and agents may incur or be subject to, in relation to the transactions conducted by me/us on the online technology platform of WAPL.
I/We also acknowledge that the security and the control provided by WAPL are designed to verify the source of communication, and not to detect errors in transmission or content including discrepancies between names on the account numbers, and that WAPL or any intermediary, may transmit data or take requisite action by referring to the account number only, even if the name on the account is also provided. Nothing contained herein shall require WAPL to violate any applicable laws, rules or the procedures/ instructions.
WAPL shall have no duty to verify the content of any transactions, instructions and communication, whether or not authorized, sent in its name and accepted by WAPL. WAPL will collate and transmit the transaction data and other details as it is received and stored on its servers, and will not validate the same for holdings, correctness of transaction and any other information.
06 Holding pattern and customer details
I/We acknowledge and agree that the WAPL holding pattern of the Registered Customer, as reflected in the WAPL system, is deemed to be the WAPL Account holding pattern of the account holder/investor(s).
I/We also agree there will be no changes allowed in the holding pattern of the investors associated with the Account once the Account is activated.
I/We agree that once an investment is made using the holding pattern, I/We will not be allowed to change the holding pattern for the subscriptions. The other requisite data (which is not part of the form) required to be reported to AMC / authorized registrar of the AMC will be extracted from the Account details maintained for the First holder. The mode of holding in all customer joint accounts is treated as “Anyone or Survivor”.
07 Statement of account
I/We agree and acknowledge that it shall be the obligation of the AMC, and not of WAPL to regularly send to the Registered Customer (only to the first holder in cause of multiple / joint holdings) such communications as required under SEBI regulations.
08 Charges and fees
While currently, the Services offered by WAPL are free of transaction charges, I/we acknowledge that WAPL reserves the right to charge fees in the future for its Services, or for any other services offered by WAPL. Any such changes will be communicated by WAPL via email 14 days ahead of implementation, and will be displayed on WAPL’ Websites.
Under such circumstances, I/we understand that I/we will be allowed to transfer our assets out of my/our Account without incurring any costs payable to WAPL.
I/We agree and understand that any such charges/fees that WAPL may choose to levy will be in addition to those levied by the AMCs, if any. All fees, charges, and reimbursement of expenditure shall be paid or made in full by me / us without any counter claim, set off, or withholding.
All liabilities and obligations of the Registered Customer hereunder to WIFS/mutual fund/AMCs/trustees of the AMC shall be joint and/or several, as the case may be.
09 Third party risk
WAPL shall not be liable for any loss or damage caused by reason of failures or delay of the mutual fund to deliver any units purchased, even though payments have been made for the same, or failure or delay in making payment in respect of any units sold, though they may have been delivered.
I/We shall hold WAPL harmless and free from any claim in respect thereof. WAPL shall also not be liable for any delay, failure, or refusal of the mutual fund in registering or transferring units to my/our names or for any interest, dividend, or other loss caused to me/us arising there from.
In such instances of third party claims, the AMC/mutual fund/trustees to the mutual fund shall be liable for failure/delay only where such claims/losses arise due to a reason entirely attributable to an error or gross negligence of the AMC.
In no event shall the AMC/mutual fund/trustees to the mutual fund be liable for losses/claims arising due to force majeure reasons beyond the reasonable control of the AMC/mutual fund.
10 Liability of WAPL
WAPL shall not, in absence of gross negligence on the part of WAPL, be liable to me/us for any act, omission, or delay by the mutual fund, or for any claims which I/we may suffer or incur as a result of, or in course of discharge by WAPL or its employees, officers, directors, nominee, or agent of WAPL’ duties.
Without prejudice to the above, WAPL shall not be held liable for any loss or damage or failure to comply or delay in complying with its obligations under these Terms and Conditions which is caused directly or indirectly by any event or circumstances beyond WAPL’ reasonable control. These include system failure, network errors, delay, or loss of data due to the above, and in circumstances of acts of God, floods, epidemics, quarantines, riots, civil commotion, and/or war.
I/We further agree that WAPL shall not be held liable for any losses, damages, expenses, costs, liabilities, and claims of whatsoever nature caused by fraudulent or unauthorized use or access of my/our information, and/or signatures.
WAPL will be under no duty to verify compliance with any restrictions on my/our investment powers.
WAPL will not be liable for any loss, damage, cost, charges, or expenses directly or indirectly caused by reasons of any defects or imperfections or mechanical or other failure with relation to computer, cable, telex, telephone, or postal system.
While WAPL will make every effort to have its computer systems available at all times, WAPL makes no guarantees with respect to the availability of such systems. WAPL will make every effort to resolve availability issues such as network problems, virus attacks, etc., in an expeditious manner.
Notwithstanding these, WAPL will as such not be liable for any loss, damage, cost, charges or expenses directly or indirectly caused by reasons of lack of such availability.
The liability of WAPL with respect to the Services or otherwise, shall be limited to the amount paid by me/us to WAPL, if any.
11 Electronic payment gateway
I/we understand that funds transfer for purchase of units of mutual funds will be done by using an Electronic Payment Gateway facility for net banking offered through a third party net banking service provider registered with the Reserve Bank of India.
I/we agree not to use or permit the use of the payment gateway or any related services for any illegal or improper purposes.
I/We hereby acknowledge that I/we am/are utilizing the Electronic Payment Gateway at my/our risk.
I/We agree and understand that these risks would include but not be limited to the following risks, and WAPL/AMC/trustees of the AMC, disclaim all liability and responsibility for any claims, losses, damages, and costs of whatsoever nature arising due to such risks:
Misuse of Password:
I/We acknowledge that if any third party obtains access to my password of the Investments Services Account, such third party would be able to transact on WAPL’s online technology platform.
I/We shall ensure that the Terms & Conditions applicable to the use of the Net Banking password as contained in the Electronic Payment Gateway for Net Banking are complied with at all times.
I/We understand that the internet per se is susceptible to a number of frauds, misuse, hacking, and other actions, which could affect payment instructions given using Electronic Payment Gateway or the transactions done using WAPL’s online technology platform.
Whilst WAPL shall aim to provide security to prevent the same, there cannot be any guarantee against such internet frauds, hacking and other actions.
I/We shall separately evolve/evaluate all risks arising out of the same.
Mistakes and Errors:
The filling in of applicable data for transfer would require proper, accurate, and complete details. In the event of my/our account receiving an incorrect credit by reason of a mistake committed by any third party, the concerned mutual fund/AMC or the bank shall be entitled to reverse the incorrect credit at any time whatsoever without my/our consent.
I/We shall be liable and responsible to WAPL/ concerned mutual fund/concerned AMC and accede to accept instructions without questions for any unfair or unjust gain obtained by me/us as a result of the same.
The technology for enabling the transfer of funds and the other services offered by the Electronic Payment and WAPL could be affected by virus or other malicious, destructive, or corrupting code, program, or macro.
I/We understand that the site of WAPL or the bank may require maintenance, and during such time, it may not be possible to process my/our request. This could result in delays in the processing of transactions/payment instructions or failure in the processing of transactions/payment instructions and other such failures and inability.
I/We understand that WAPL disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by WAPL/bank/mutual funds/AMCS to process any transaction/payment instructions for whatsoever reason.
I/We understand and accept that WAPL/AMC/trustee company of the AMC/authorised registrars of the AMC shall not be responsible for any of the aforesaid risks.
I/We are aware that WAPL may, from time to time, impose maximum and minimum limits on funds that may be transferred by virtue of the payment transfer service given.
I/We realize and accept and agree that the same is to reduce my/our risks.
I/We shall be bound by such limits imposed and shall strictly comply with them.
I/We agree and undertake to indemnify WAPL/mutual funds/AMCs/trustees to the AMCs/authorized registrar of the AMC from and against all losses and damages that may be caused as a consequence of breach of any of the Electronic Payment Gateways for net banking, and the Terms & Conditions mentioned herein above.
Withdrawal of Facility:
WAPL shall be entitled to withdraw this service at any time without assigning any reason whatsoever.
Binding nature of the above Terms & Conditions:
I/We agree that by use of this facility, I/we shall be deemed to have agreed to all the above Terms & Conditions and such Terms & Conditions shall be bound on me/us in the same manner as if I/we have agreed to the same in writing.
12 Role of WAPL
I/We expressly agree and acknowledge that any information contained in WAPL’ brochures or other materials, or otherwise communicated by WAPL shall not be construed by me/us as investment advice and that all decisions to purchase or sell units made by me/us shall be on the basis of my/our own personal judgment arrived at after due consideration.
I/We understand and agree that WAPL does not in any manner:
- Guarantee payments on any units; or
- Guarantee liquidity of any units; or
- Make any offer to buy back any units; or
- Guarantee the redemption or repayment of any units on maturity; or
- Guarantee the payments of interest or dividend; or
- Promise, indicate, or guarantee any returns; or
- Guarantee any goods delivery.
I/We further understand and agree that WAPL does not in any manner:
- Subscribe to units of mutual funds on my/our behalf or in my/our name or collect payments from me/us for the units so purchased by me/us for remitting it further to the AMCs; or
- Receive any account statement from mutual funds/AMCs, on my/our behalf or in my/our name pertaining to the units; or
- Redeem/sell the units held by me/us on my/our behalf or in my/our name; or
- Unilaterally instruct the mutual fund and/or the corresponding AMCs with regards to nomination/changes in investment plan/any other changes; or
- Sign any document on my/our behalf or in my/our name for purchase, sale, or redemption of units; or
- Collect, receive, and/or give receipts and discharges for any sum including dividend, interest, or income arising from the units, and does not sign and/or endorse dividend and interest warrants on my/our behalf or in my/our name; or
- Correspond with, or gives notice to the mutual fund/AMCs on my/our behalf, or in my/our name, except for transmission of transactions done or purported to be done by me/us on the online technology platform.
- I/We understand and acknowledge that WAPL does not offer any advice, and nothing herein or on the WAPL Website shall be construed as investment advice by me/us.
- I/We understand that any sum invested through WAPL Investment Services Account is not a deposit with WAPL and is not bank insured. The same is not endorsed or guaranteed, and does not constitute obligations of WAPL or any of the subsidiaries associates or affiliates companies whose role in only as described in these Terms & Conditions.
- Investments in mutual fund are subject to investment risk, including the possible loss of principal amount invested. The value of my/our units will fluctuate.
- If I/we redeem my units/shares, I/we may receive more or less than I/we paid depending upon NAV of the units in the fund or trust at the time of redemption.
- Past results are not a guarantee to future performance. Past performance may or may not be sustained in the future.
Any notice or other correspondence addressed by WAPL to me/us may be addressed to the first holder at the address given by me/us, or as may be intimated from time to time.
If according to me/us, there is any discrepancy in the particular or details of my transaction or Account statement, then I/we shall be obliged to intimate the same to WAPL, and to the concerned mutual fund/AMC/authorised registrar of the AMC in writing within 7 (seven) working days of the first holder receiving notice thereof, failing which such transaction, statement or account (as the case may be) shall be deemed to be correct and accepted by me/us, and I/we shall not be entitled to question the correctness or accuracy thereof.
14 Use of WAPL websites
I/We acknowledge that in accessing and using the Services offered by WAPL, I/we may utilize the content and services offered on WAPL’ Websites.
I/We agree to follow Terms & Conditions for the use of such WAPL Websites as may be specified on such WAPL Websites from time to time (“WAPL Website Terms”).
Notwithstanding such acceptance of the WAPL Website Terms, I/we agree to the following:
- I/We agree that all information, content, materials, products (including, but not limited to text, content, photographs, graphics, video and audio content) on WAPL’ Websites is protected by copyright in favour of WAPL under applicable copyright laws, and is also protected otherwise under general intellectual property law.
- I/We agree that all information submitted by me/us to WAPL, whether through WAPL’ Websites or otherwise, shall be deemed to be the property of WAPL, and WAPL shall be free to use any ideas, concepts, know‐ how or techniques provided by me/us in WAPL’ Websites, in any manner whatsoever.
- I/We agree not to copy, reproduce, sell, redistribute, publish, enter into a database, display, perform, modify, transmit, license, create derivatives from, transfer, or in any way, exploit any part of any information, content, materials, services available from or through the WAPL Websites, except that which I/we may download for my/our own personal, non‐ commercial use.
- I/We agree that I/we will not use WAPL's Websites for any purpose that is unlawful, or prohibited by these Terms & Conditions.
- I/We also agree that I/we will not use WAPL’ Websites in any manner that could damage, disable or impair WAPL' Websites, or interfere with any other person’s use or enjoyment of WIFS’ Websites.
- I/We agree that the software and hardware underlying WAPL’ Websites, as well as other internet related software which are required for accessing the WAPLWebsite, are the legal property of the respective Vendors. The permission given by WAPL to access WAPL’ Websites will not convey any proprietary or ownership rights in the above software/hardware.
- I/We agree that I/we shall not attempt to modify, translate, disassemble, decompile, or reverse engineer the software/hardware underlying WAPL’ Websites, or create any derivative product based on the software /hardware.
- I/We agree that not all the products and services offered on WAPL’ Websites are available in all geographic areas, and I/we may not be eligible for all the products or services offered by WAPL on WAPL Websites. WAPL reserves the right to determine the availability and eligibility for any product or service.
- I/We agree that WAPL/AMC is not responsible for the availability of content or other services on third party sites linked from WAPL’ Websites. I/We are aware that access of hyperlinks to other internet sites are at my/ our own risk and the content, accuracy, opinions expressed, and other links provided by these sites are not verified, monitored, or endorsed by WAPL in any way. WAPL does not make any warranties and expressly disclaims all warranties, express or implied, including without limitation, those of merchantability and fitness for a particular purpose, title or non‐ infringement with respect to any information or services or products that are available or advertised or sold through these third party websites.
- I/We agree that WAPL has the absolute discretion to amend or supplement any of WAPL’ Website’s Terms & Conditions at any time, without prior notice for such changes. I/We agree that the information and assistance provided on WAPL’s Websites are true to the knowledge of WAPL and should not be construed as investment advice, and that WAPL shall have no liability for any discrepancy in any such information or assistance.
- I/We agree that an Account may be created offline, without accessing WAPL’ Websites. In the event I/we create an Investment Services Account offline, I/we understand and acknowledge that these Terms & Conditions, and the Terms & Conditions of the use of WAPL’ Websites will continue to be applicable to me/us for the use of Services.
15 Customer Information
I/We agree to provide any and all information that may be required by WAPL/AMC/authorised service providers of the AMC from time to time in compliance with existing legal norms and regulations, including but not limited to contact information, address and tax‐related information, and any information required under existing or future KYC norms and laws.
I/We agree that WAPL/AMC/authorized service providers of the AMC may take steps to verify the veracity of such information provided by me/us, and I/we agree to cooperate with WAPL/AMC/authorized service providers of the AMC in providing all information requested by WAPL.
I/We acknowledge that failure to provide such information in a timely manner may result in my/our ineligibility to avail of some, or all of the services of WAPL, and that WAPL/AMC/Trustees of AMC shall in no way be held liable for any losses of whatsoever nature resulting from such failure to provide information on my/our part.
I/We agree that any information provided by me/us may be required to be shared with relevant regulatory / statutory authorities and I/we authorise WAPL to provide all information to such regulatory / statutory authorities as and when required.
WAPL may terminate its Services by giving 30 days’ prior notice in writing to the Registered Customer, provided that the Registered Customer shall not be relieved of obligations hereunder notwithstanding such termination incurred prior to the date on which such termination shall become effective.
17 Governing Law and Jurisdiction Clause
All disputes and differences arising out of, under, or in connection with these Terms & Conditions, or anything done hereunder, shall be within the exclusive jurisdiction of the courts of Hyderabad. These Terms & Conditions are subject to and shall be construed in accordance with the laws prevalent in India.
18 Declaration by user of WAPL services
I/We have read and understood the Terms and Conditions applicable to Investment Services Account.
I/We agree to abide by the same.
I/We declare that any particulars given by me/us are true to the best of my/our knowledge as on the date of furnishing such particulars.
I/we undertake to inform, in writing, of any change in the particulars furnished.
I/We further agree that any false/misleading information given by me/us or suppression of any material fact will render my/our account liable for termination.
I/we declare that all the details in my /our relationship record are true and correct and any instruction given to you to transact business on my/our behalf shall in due conformity with the applicable laws as may for the time being be in force.
Any tax implication arising out of any transactions entered in to pursuant to these terms and conditions would be as per the provisions of Income Tax Act, 1961, or any modification or re-enactment thereof.
I/We agree and declare that any and all tax liability will be my/our sole responsibility. I/We shall execute and deliver to WAPL, from time to time such other documents as may be specified by WAPL for compliance or updating of records, if any.
I/we have read and understand the terms and conditions applicable to WAPL’s Investment Services Account and agree to be bound by the said terms and conditions, including those excluding /limiting WAPL’s liability.
I/We jointly and severally bound by the terms and conditions of WAPL's Investment Services Account.