| 6.PURCHASE
OF SECURITIES |
| To process orders to purchase
securities, it is necessary that their accounts contain buying power before the
execution of order. Any order inadvertently accepted and executed without
sufficient buying power will be subject to cancellation or liquidation at ICICI
Securities's discretion. However, Client/s are responsible for all of their
orders, including any orders, which exceed available limit in their account. If
limits are not available in the account and an order is processed, Client/s
should credit the required fund in their Bank Account with ICICI BANK via wire
or personal cheque, cashier's cheque or money order or account transfer or any
other mode, promptly to assure that such payment will be received and processed
on or prior to settlement date or intimated date, whichever is earlier. If
payment is not received by settlement date or intimated date, whichever is
earlier, their position may be squared off, without prior notification. In the
event their account is liquidated, Client/s will be liable for any resulting
losses and all associated costs incurred by ICICI Securities. |
| 7.SALES OF
SECURITIES - IN CASH PRODUCT |
To
process orders to sell securities, it is necessary that their accounts contain
sufficient Free Securities Balance in the Security Demat Account with ICICI
prior to the acceptance of a sell order or the physical shares in the custody
of ICICI Securities. Proceeds of the sale cannot be paid to Client/s until
securities have been delivered to the Exchange/clearing house & pay out is
received from the Exchange/Clearing House. The proceeds of all sales will be
credited to their account directly on settlement date. If the securities are
not received on or before settlement date or securities received are not in
deliverable state or due to any other reason whatsoever, Client/s are not able
to deliver securities, the securities will be Auctioned or closed out as per
the rules of the concerned Exchange. Consequently, Client/s will be responsible
for any resulting losses and all associated costs including penalty levied by
the Exchange.
|
| 8.
CONFIRMATIONS, STATEMENTS, NOTICES AND OTHER COMMUNICATIONS:
|
We
shall send the Client/s electronically the Contract Note/Trade Confirmation of
the trades executed on their behalf on the trade date. Client/s understand that
it is their responsibility to review, upon first receipt, whether delivered to
Client/s by mail, by e-mail, or other electronic means, all confirmations,
statements, notices and other communications, including but not limited to,
margin, maintenance calls, and prospectuses. All information contained therein
shall be binding upon Client/s, if Client/s do not object, either in writing or
via electronic mail, within Twenty Four hours after any such document is sent
to Client/s. In all cases, ICICI Securities reserves the right to determine the
validity of their objection to the transaction. Notices and other
communications may also be provided to Client/s verbally. Client/s agrees that
ICICI Securities fulfils its legal obligation to deliver to Client/s any such
document if sent via electronic delivery. Documents sent by electronic delivery
will contain all the information as it appears in the printed hardcopy version
as prepared and distributed by the originator, with the possible exception of
graphic insertions such as photographs or logotypes. Electronic delivery may be
in the form of an email, an electronic mail attachment, or in the form of an
available download from the web site. Client/s represent that Client/s will
download the relevant document promptly after receiving notice of its
availability. Should Client/s experience any difficulty opening a document
electronically delivered by ICICI Securities, Client/s will promptly advise
ICICI Securities in order to allow us to make the required delivery by other
means. Failure to advise ICICI Securities of such difficulty within Forty eight
hours after delivery shall serve as an affirmation that Client/s were able to
receive and open said document.
|
| 9.
SALES OF SECURITIES AND PURCHASE OF SECURITIES - In Margin Product |
Short
Sales Before executing any sell order Client/s should have funds in their Bank
account with ICICI BANK equal to or greater than margin money. Any order
accepted without free stock balance in the account would be deemed a short
sale. Short Sales can be settled by squaring off the trade within same trade
cycle. Client/s agree and understand that if Client/s does not square off the
position by the stipulated time before the close of market hours on the last
day of the trading cycle, ICICI Securities has all the rights to square off the
position on the same day or on any later date. Any such purchases may be made
at any time at ICICI Securities's discretion on any exchange or other market
where such business is usually transacted, or at public auction, or ICICI
Securities may be the purchaser for ICICI Securities's own account. Client/s
are responsible for any losses or expenses incurred by us as a result of their
failure to make such delivery/Square off the trade. As and when SEBI and its
Regulatory bodies come up with new circulars, notifications or guidelines with
respect to operations, trading and other related matters we will be modifying
our terms and conditions to meet the requirements. Long Buys Before executing
any buy order Client/s should either have funds in their Bank account with
ICICI BANK equal to or greater than margin money. Any long buys can be settled
by squaring off the trade within same trade cycle. Client/s agree and
understand that if Client/s do not square off the position by the stipulated
time before the close of market hours on the last day of the trading cycle, we
have all rights to square off the position on the same day or on any later
date. Any such sales may be made at any time at ICICI Securities SERVICES's
discretion on any exchange or other market where such business is usually
transacted, or private sale, or ICICI Securities may be the seller for ICICI
Securities's own account. Client/s are responsible for any losses or expenses
incurred by us as a result of their failure to make payment/Square off the
trade.
|
| 10.CALLS
FOR ADDITIONAL COLLATERAL AND LIQUIDATION |
If it
is considered necessary for its own protection, ICICI Securities may require
the Client/s to immediately deposit cash or collateral into their account prior
to any applicable settlement date in order to assure due performance of their
open contractual commitments. If Client/s do not provide the additional cash or
collateral, Client/s hereby understand and acknowledge that ICICI Securities
has the right to sell any or all securities and other property in their
account, buy any or all securities and other property which may be short in
their account, cancel any or all open orders and/or close any or all
outstanding contracts. In addition, Client/s understand and agree that ICICI
Securities may exercise any or all of the above rights without demand for
additional cash or collateral, or notice of sale or purchase, or other notice
or advertisement. Any such sales or purchases may be made at any time at ICICI
Securities'S discretion on any exchange or other market where such business is
usually transacted, or at public auction or private sale, or ICICI Securities
may be the purchaser/seller for its own account. It is understood that giving
of any prior demand or call or prior notice of the time and place of such sale
or purchase shall not be considered as a waiver of ICICI Securities'S legal
right to sell or buy without any such demand, call or notice.
|
| 11.AUTO
SQUARE OFF |
Client/s
agree that ICICI Securities would have the discretion to square off the
position of Client/s in following circumstances: In case of Margin Trades, if
the open position is neither squared off nor converted to Delivery by Client/s
within the stipulated time. In case of Margin Trades, where Mark to Market Loss
on the open position has reached the stipulated % of the margins placed with us
and the Client/s have not taken any steps either to replenish the margin or
reduce the Mark to Market Loss In all other cases where the margin or security
placed by the Client/s falls short of the requirement or where the limits given
to the Client/s have been breached or where the Client/s have defaulted on
their existing obligation Client/s agree that although the auto square off
trigger point is pre-defined, subsequent to which ICICI Securities could
exercise its discretion to carry out the off within a reasonable period of
time, the actual execution could happen at a price different from the trigger
point and the Client/s agree to bear the loss based on actual executed price.
ICICI Securities shall also have the right to cancel any or all open orders
and/or close any or all outstanding contracts. Client/s understand that in case
the Auto Square off does not take place due to certain reasons like price band,
etc. then ICICI Securities shall exercise the option of CTD (Convert to
Delivery). If CTD also fails due to non-availability/shortage of Demat shares,
then for the open sale position, the Client/s will have to face auction or
close out as per the rules of the concerned Exchange. Consequently, Client/s
will be responsible for any resulting losses and all associated costs including
penalty levied by the Exchange. If CTD also fails due to insufficient funds/no
funds, then for the open buy position, the shares will not be delivered to the
Client/s and ICICI Securities will liquidate the shares anytime and the
Client/s will be liable for any resulting losses and all associated costs
incurred by ICICI Securities
|
| 12.TERMINATION
OF SERVICE |
The
facility may be withdrawn anytime by us provided the Client/s are given
reasonable notice under the circumstances. If the service is withdrawn for a
reason other than the breach of the terms and conditions by the Client/s, our
liability shall be restricted to the return of the annual charges, if any,
recovered from the Client/s for the period in question. The closure of all
accounts of the Client/s will automatically terminate the icicidirect.com
service. ICICI Securities may suspend or terminate trading facilities without
prior notice if the Client/s have breached these terms and conditions or we
learn of the death, bankruptcy or lack of legal capacity of the Client/s.
|
| TERMS
AND CONDITIONS GOVERNING THE USE OF WEB BANKING SERVICE |
| DEFINITIONS |
Web
Banking is ICICI BANK'S Internet Banking Service, which provides access to
account information, products and other services as advised by ICICI BANK from
time to time to its Client/s through the Internet. The words Web Banking and
Web Banking Service are used interchangeably in this document. Web Banking
Account refers to the Client/s' Savings account so designated by ICICI BANK to
be eligible account(s) for operations through the use of Web Banking. One of
these accounts will be designated as primary account. All other accounts (if
any) of the Client/s will be called Secondary Account(s). The Client/s should
be the first holders and sole signatories. An account in the name of a minor or
an account, in which a minor is a joint account holder, is not eligible to be a
Web Banking Account. Personal Information refers to the information about the
Client/s obtained in connection with the WEB Banking Service. Terms refer to
Terms and Conditions for use of Web Banking as specified in this document. In
this document, all references to the Client/s being referred in masculine
gender will also include the feminine gender.
|
1.
ICICI BANK shall endeavor to provide the Client/s through Web Banking, services
such as balance enquiry for their account, transaction details, statement of
account, cheque-book request, request for transfer of funds between accounts of
the same Client/s and such other facilities as the ICICI BANK may decide to
provide from time to time. These facilities shall be offered in a phased manner
at the discretion of the ICICI BANK. ICICI BANK may also make
additions/deletions to the services offered through Web Banking at its sole
discretion. The availability/non-availability of a particular service shall be
intimated to the Client/s though e-mails and/or on the webpage of the ICICI
BANK or may be displayed on the Website.
|
2.
ICICI BANK shall take reasonable care to ensure security of and prevent
unauthorised access to the Web Banking Service, using technology, reasonably
available to it.
|
| 3. ICICI BANK
shall allot the Client/s a Client/s'-Identification and a secret password or
require the usage of digital signature while opening his account. The Client/s
will be required to change the password assigned by ICICI BANK on accessing Web
Banking for the first time. ICICI BANK will not be liable in any case wherein
the Client/s have not changed their password after it has first been issued to
them. As a safety measure the Client/s shall change the password as frequently
thereafter as possible. |
4. The Client/s
shall at all times comply with such directions/instructions as may be issued by
ICICI BANK, including but not limited to the maintenance of a minimum balance
in the account, payment of service charges, etc. ICICI BANK may, in its sole
discretion, levy penal charges for non-maintenance of the minimum balance as
stipulated from time to time. Any change in the fees shall be notified on ICICI
BANK'S website 15 days prior to the changes taking effect. The Client/s
authorise ICICI BANK to recover all charges related to Web Banking as
determined by the it from time to time by debiting the Client/s' accounts.
|
5. All
transactions to be executed through the Client/s' accounts shall be subject to
the availability of sufficient funds and ICICI BANK shall not be liable for any
omission to make all or any of the payment or for late payment due to
circumstances beyond the reasonable control of ICICI BANK.
|
6. The Client/s
are responsible for the accuracy of information supplied to ICICI BANK through
the use of Web Banking or through any other means such as electronic mail or
written communication. ICICI BANK accepts no liability for the consequences
arising out of erroneous information supplied by the Client/s. If the Client/s
suspect that there is an error in the information supplied to ICICI BANK by
them or notice an error in the information supplied to them though Web Banking
then they shall intimate ICICI BANK as soon as possible and ICICI BANK shall
endeavor to correct the same, wherever possible, on a 'best efforts' basis.
|
7. The Client/s
shall be liable for any loss caused to ICICI BANK due to any unauthorised
transactions in the Web Banking account if they have breached any of the terms
of usage of Web Banking or contributed or caused the loss in any manner.
Provided that nothing contained herein shall be construed in such a manner so
as to hold the Client/s liable for any unauthorised transactions occurring
through the use of Web Banking that is attributable, after a due enquiry, to
the fraudulent or negligent conduct of employees of ICICI BANK.
|
8. ICICI BANK
shall under no circumstances be held liable by the Client/s in case of Web
Banking access not being available in the desired manner for reasons including
but not limited to natural calamity, floods, fire and other natural disasters,
legal restraints, faults in the telecommunication network or Internet or
network failure, software or hardware error or any other reason beyond its
control. Under no circumstances shall ICICI BANK be liable for any damages
whatsoever whether such damages are direct, indirect, incidental, consequential
and irrespective of whether any claim is based on the loss of revenue,
investment, production, goodwill, profit, interruption of business or any other
loss of any character or nature whatsoever and whether sustained by the
Client/s or any other person.
|
9. The Client/s
agree that the ICICI Bank or its representatives/contractors may hold and
process their Personal Information on computer or otherwise in connection with
Web Banking services as well as for statistical analysis and credit scoring.
The Client/s also agree that ICICI Bank may disclose, in strict confidence, to
other institutions, such Personal Information as may be reasonably necessary
for reasons inclusive of, but not limited to, the following: For participation
in any telecommunication or electronic clearing network; In compliance with a
legal directive; For credit rating by recognised credit scoring agencies;
and/or For fraud prevention purposes.
|
10. ICICI Bank
shall have the right of set-off, irrespective of any other lien or charge,
present as well as future on the deposits held in the Client/s' Primary
account(s), whether in single name or joint name(s), to the extent of all
outstanding dues, whatsoever, arising as a result of the Web Banking Service
extended to and/or used by the Client/s.
|
| 11. The Client/s
acknowledge that the software underlying the Web Banking Service as well as
other Internet related software which are required for accessing Web Banking
are the legal property of the respective vendors and the Client/s shall not
attempt to modify, translate, disassemble, decompile or reverse engineer the
software underlying the service. The permission given by ICICI BANK to access
Web Banking shall not convey any proprietary or ownership rights in the above
software. |
| 12. An order
inadvertently processed, in spite of insufficient balances in the Client/s'
bank account or the account maintained with ICICI CUSTODIAL shall at ICICI
Securities's sole discretion be subject to cancellation or liquidation.
However, the Client/s shall be responsible for all their orders, including any
orders, which exceed the available limits in their account. The Client/s shall
credit the required fund to their bank accounts with ICICI BANK promptly to
ensure that the payment shall be received and processed on or prior to the
settlement date or a date intimated by ICICI Securities, whichever is earlier.
If the payment is not received as aforesaid, then ICICI Securities SERVICES may
square off the same without any prior intimation to the Client/s. In the event
of liquidation of the account, the Client/s shall be liable for any resulting
losses and all associated costs incurred by ICICI Securities SERVICES. An order
cancelled by the Exchange without giving any reason for the same shall entitle
ICICI Securities to cancel the relative contract(s) with the Client/s. |
13.
APPLICABILITY OF TERMS
|
| These Terms form
the contract between the Client/s and the ICICI BANK. By applying for Web
Banking and accessing the service the Client/s acknowledge and accept these
Terms. These Terms will be in addition to and not in derogation of the terms
and conditions relating to any account of the customer. |
14.
WEB BANKING ACCESS
|
| In addition to
Client/s'-Id and Password ICICI BANK may, at its discretion, advise the
Client/s to adopt such other means of authentication including but not limited
to digital certification and/or smart cards. The Client/s shall not attempt or
permit others to attempt accessing the account information stored in the
computers of ICICI BANK through any means other than the Web Banking Service. |
| 15.
JOINT ACCOUNTS |
| The Web Banking
Service will be available in case of joint accounts only if the mode of
operation is indicated as 'either or survivor' or anyone or survivor'. For
these joint accounts one Web Banking Client/s-Id will be issued to the first
holder. The other joint account holder(s) shall expressly agree with this
arrangement and give their consent on the application form for use of Web
Banking. In case any of the joint account holder(s) give "stop payment"
instructions in respect of operations through the use of (or in writing), on
any of the Web Banking accounts held jointly by them, the Web Banking Service
will be discontinued for the Client/s. |
| 16.
MINIMUM BALANCE AND CHARGES |
| ICICI BANK may
withdraw the Web Banking facility, if at any time the amount of deposit falls
short of the required minimum as aforesaid and/or if the service charges remain
unpaid, without giving any further notice to the Client/s and/or without
incurring any liability or responsibility whatsoever by reason of such
withdrawal. |
| 17.
FUNDS TRANSFER |
| The Client/s
shall not use or attempt to use Web Banking for funds transfer - as and when
the facility is made available - without sufficient funds in the relative Web
Banking account or without a pre-existing arrangement with ICICI Bank for the
grant of an overdraft. ICICI Bank will endeavor to effect such funds transfer
transactions received through Web Banking provided there are sufficient funds
available in the Client/s' account. ICICI Bank shall not be liable for any
omission to make all or any of the payment or for late payment due to
circumstances beyond the reasonable control of ICICI Bank. |
| 18.
AUTHORITY TO ICICI BANK |
| Banking
transactions in the Client/s' Web Banking account(s) are permitted through Web
Banking only after authentication of the Client/s-Id and password of the
Client/s. The Client/s (alongwith the joint account holder, if any) grant
express authority to ICICI Bank for carrying out the banking transactions
performed by them through Web Banking. ICICI BANK shall have no obligation to
verify the authenticity of any transaction received from the Client/s through
Web Banking or purporting to have been sent by the Client/s via Web Banking
other than by means of verification of the Client/s-Id and the password. The
display or printed output that is produced by the Client/s at the time of
operation of Web Banking is a record of the operation of the Internet access
and shall not be construed as ICICI Bank's record of the relative transactions.
ICICI Bank's own records of transactions maintained through computer systems or
otherwise shall be accepted as conclusive and binding for all purposes unless
any discrepancy is pointed out within a week from the date of sending the
periodical statement to the Client/s or the updation of the passbook. |
| 19.
LIABILITY OF THE CLIENT/S AND ICICI BANK |
| The Client/s
shall not be liable for any unauthorised transactions occurring through the use
of Web Banking that can be attributed to the fraudulent or negligent conduct of
the employees or agents of ICICI BANK. If the Client/s have complied with the
terms and advises ICICI BANK in writing under acknowledgement immediately after
they suspect that their Client/s'-Id or password is known to another person
and/or notices an unauthorised transaction in his Web Banking account, they
shall not be liable for losses arising out of the unauthorised transactions
occurring in the Web Banking accounts after the receipt of such advice by ICICI
Bank. The Client/s shall be liable for some or all loss from unauthorised
transactions in the Web Banking accounts if they have breached the terms or
contributed or caused the loss by negligent actions such as the following:
Keeping a written or electronic record of Web Banking password Disclosing or
failing to take all reasonable steps to prevent disclosure of the Web Banking
Client/s-Id or password to anyone including ICICI Bank staff and/or failing to
advise ICICI Bank of such disclosure within reasonable time. Not advising ICICI
Bank in a reasonable time about unauthorised access to or erroneous
transactions in the Web Banking accounts. ICICI Bank shall not be liable for
any unauthorised transactions occurring through the use of Web Banking that can
be attributed to the fraudulent or negligent conduct of the Client/s. |
| 20.NON-TRANSFERABILITY |
| The grant of
facility of Web Banking to a Client/s is not transferable under any
circumstances and shall be used only by the Client/s. |
| 21.PURCHASE
OF SECURITIES |
| Client/s agree
& authorise ICICI Bank to block the required amount in the designated Bank
account against their desired limits and settlement obligations. If their order
gets executed either fully or partially then the amount equal to their
obligation would be transferred to ICICI Securities Account on Settlement date.
Client/s agree that Client/s will not be allowed to withdraw, issue a cheque or
otherwise use the blocked funds in their account. ICICI BANK reserves all its
right to dishonour their instruction/cheque issued against the blocked amount.
Client/s also understand & agree that Blocking of funds against their order
will be given first priority to their other instruction or cheques, if any. |
| 22.JOINT
ACCOUNTS |
| If Client/s
maintain a joint bank account, each joint holder irrevocably appoints the other
as attorney-in-fact to take all action on his or her behalf and to represent
him or her in all matters with respect to this agreement. Client/s agree to
indemnify ICICI Securities & ICICI BANK and we shall be fully protected in
acting upon the instructions of either of Client/s. Each of Client/s shall be
jointly and severally liable for any amounts due to ICICI Securities pursuant
to this agreement, whether incurred individually or by both of Client/s. In the
event of the death of any of the joint owners, the surviving joint owner(s)
shall immediately give ICICI BANK & ICICI Securities proper written notice
thereof. ICICI Securities & ICICI BANK may, before or after receiving such
notice, take such proceedings, require such documents, retain such portion of
and restrict transactions in the account as they deem advisable, in their sole
discretion, to protect themselves against any tax liability, penalty or loss
under any present or future laws or otherwise. |
| TERMS
AND CONDITIONS FOR THE ISSUE AND USE OF ATM CARDS |
| 1.
MEANING OF CERTAIN TERMS |
| The term "Bank"
refers to "ICICI Bank Ltd". "ATM" refers to the Automated Teller Machines
installed by the bank. "Card Holder" refers to a Client/s who have been issued
an ICICI Bank ATM Card . |
| 2.
ICICI BANK ATM CARD ISSUANCE |
| An account holder
may be issued an ICICI Bank ATM Card by the Bank at its discretion if he has
satisfactorily conducted savings and/or current account and/or any other type
of account so designated by the bank to be eligible account(s) for operations
through the use of ICICI Bank ATM Card. The account holder shall give his
preference of such account(s) held by him in writing in the relationship form
for issue of ICICI Bank ATM Card. A minor's account or an account in which a
minor as a joint account holder is not eligible for issue of ICICI Bank ATM
Card. There may be more than one such account in which case one account shall
be designated as " Primary Account" and the others as " Secondary Account 1"
and Secondary Account 2" at the option of the cardholder. |
| 3.
ICICI BANK ATM CARD |
| ICICI Bank ATM
Card shall be issued to an approved account holder in respect of his account to
enable him to operate the ATM. |
| 4.
ATM FACILITIES |
| The facilities
offered under ATM facility shall be withdrawal of cash by the cardholder from
his account up to a stipulated amount limit only during a cycle of 24 hours
deposit of cash and cheques in the account, balance enquiry of his account(s),
cash/cheque deposits, requisition for an account statement, request for change
of PIN number, Cheque-book issue request, request for transfer of amount from
the primary account to the secondary account(s) or vice-versa and such other
facilities as the bank may decide to provide, from time to time. |
| 5.MINIMUM
BALANCE IN PRIMARY ACCOUNT |
| The cardholder
shall maintain, at all times, such minimum balance in his account, as the Bank
may decide from time to time and the Bank may at its discretion levy such penal
or service charges as per the Bank's rules from time to time, or withdraw the
ATM facility, if at any time the amount of deposit falls short of the required
minimum as aforesaid, without giving any further notice to the cardholder(s)
and/or without incurring any liability or responsibility whatsoever by reason
of such withdrawal. |
| 6.
FEES |
| All fees related
to the ATM facility as determined by the bank from time to time may be
recovered by debiting the cardholder's primary account. In case of insufficient
balance in the aforesaid account, any of the secondary accounts as may have
sufficient balance , may be debited. |
| 7.
BANK'S LIEN |
| The bank shall
have the right of set-off and lien, irrespective of any other lien or charge,
present as well as future, on the deposits held in the cardholder's primary
account and/or, secondary account(s) or in any other account, whether in single
name or joint name(s), to the extent of all outstanding dues, whatsoever,
arising as a result of the ICICI Bank ATM card services extended to and/or used
by the cardholder. |
| 8.
MULTIPLE CARDS |
| In case of joint
account(s) either or survivor/anyone or survivor where more than one person has
been issued ICICI Bank ATM Card, all the card-holders put together, shall
withdraw only upto the permissible limit allowed to single card account(s)
within the cycle time of 24 hours. |
| 9.NON
TRANSFERABILITY |
| ICICI Bank ATM
Card is not transferable under any circumstance and shall be used only by the
cardholder. |
| 10.PERSONAL
IDENTIFICATION NUMBER |
| Each cardholder
will be issued a sealed envelope containing a four digit number called
"Personal Identification Number" (PIN) to gain access to the ATM services. This
number can be changed to any other convenient four digit number by the
cardholder at the ATM. The PIN shall under no circumstances be revealed to any
third party. The cardholder shall be solely responsible for the consequences
arising out of the disclosure of his PIN and/or unauthorised use of ICICI Bank
ATM Card and shall be liable for any increased liability which he may incur on
account of unauthorised use of the pin and ICICI Bank ATM Card. If the
cardholder forgets the PIN, he/she should make an application in writing for a
fresh PIN. The selection of a new Personal Identification Number and/or the
replacement of ICICI Bank ATM Card shall not be construed as the commencement
of a new contract. |
| 11.
FUNDS IN THE ACCOUNTS |
| The cardholder
should not use or attempt to use ICICI Bank ATM Card without sufficient funds
in the account he wants to operate through the card. |
| 12.
LOSS / THEFT OF CARDS |
| The cardholder
shall be responsible for the safe custody of ICICI Bank ATM Card. In case of
loss or theft of the ICICI Bank ATM Card, the cardholder shall advise any of
our branches, preferably the ATM Card issuing branch as promptly as possible in
writing, of the loss of ICICI Bank ATM Card, howsoever occurring. The
cardholder shall however be responsible and liable for all transactions
effected by the Client/s of the card until it is confiscated/cancelled. Another
ICICI Bank ATM Card will be issued to the cardholder in lieu of lost/stolen
ICICI Bank ATM Card, upon request in writing and payment of issue fee. |
| 13.
AUTHORITY TO DEBIT THE ATM LINKED ACCOUNT
|
| The cardholder
alongwith the joint account holder(s), if any, shall authorise the bank to
debit the account(s) with the amount of withdrawals, or transfers effected by
the use of ICICI Bank ATM Card, as per the Bank's records. The Bank's record
for transactions processed by the ATM machine shall be binding on all the joint
account holders, jointly and severally. |
| 14.
DEPOSITS |
| The amount of
cash/cheque deposits shall be verified by two members of the Bank's staff, one
of who will be an officer. The amount verified by the Bank shall be deemed to
be the correct amount deposited by the cardholder. The statement issued by the
ATM at the time of deposit only represents what the cardholder purports to have
deposited and will not be binding on the bank. If there are soiled, mutilated
notes in such deposits, the acceptance of such deposits shall be subject to
final acceptance and reimbursement by RBI as per the note refund rules. Cheques
will be accepted for collection only and the proceeds will not be available
until they have been cleared. Deposits of foreign currency cash/cheques/spoiled
and mutilated notes or any other deposits that are unacceptable, shall be
returned, at the cardholders cost, risk and responsibility. |
| 15.
RESPONSIBILITY FOR ALL TRANSACTIONS THROUGH THE ATMS |
| Operations
through the ATM facility on the cardholders account(s) can only be through the
use of ICICI Bank ATM Card on the machine. The cardholder shall in all
circumstances, accept full responsibility for all transactions processed by the
use of his ICICI Bank ATM Card, whether or not processed with the cardholder's
knowledge or authority, express or implied. The printed output that is produced
at the time of operation of the ATM is a record of the operation of the ATM and
shall be construed as the Bank's records. The Bank's records of transactions
shall be accepted as conclusive and binding for all purposes. |
| 16.
CLOSURE OF ACCOUNT(S) |
| If the cardholder
desires to close his account(s) or withdraw any ICICI Bank ATM Card linked
deposit, or even otherwise decides to terminate the use of the ICICI Bank ATM
Card facility, he shall give a written notice of atleast two days and surrender
ATM Card to the Bank. The cardholder shall also pay dues, if any, payable to
the Bank in connection with the ATM facility. |
| 17.
CHANGE OF TERMS AND CONDITIONS |
| The bank has the
absolute discretion to withdraw the ICICI Bank ATM Card, the services thereby
provided, or amend or supplement any of the above terms and conditions at any
time without prior notice to the cardholder.
|
| 18.HONOURING
THE CARD |
| The Bank shall in
no circumstances be held liable to the cardholder if ICICI Bank ATM Card is not
honoured in the desired manner for whatsoever reason, or if the ATM is
destroyed or not functioning due to power failure, temporary insufficiency of
cash in the ATM or any other reason. The Bank will not be liable for any
consequential or indirect loss or damage arising therefrom. |
| 19.OWNERSHIP
OF ICICI BANK ATM CARD |
| ICICI Bank ATM
Card shall be the property of the Bank and will be surrendered to the Bank on
request or in the event of the cardholder no longer requiring the service. The
Bank reserves the right to disclose, in strict confidence, to other
institutions, such information concerning the cardholder's account as may be
necessary or appropriate in connection with its participation in any ATM or
electronic fund transfer network. |
| B.
TERMS & CONDITIONS GOVERNING DEPOSITORY TRANSACTIONS |
| 1. The Client/s
shall have the right to create a pledge of the securities held in a
dematerialised form with IDEMAT only in accordance with the procedure and
subject to the restrictions laid down under the bye laws and business rules of
the Depository. Provided that nothing contained herein shall be deemed to
permit the Client/s to pledge or otherwise use any security that has been
blocked by the Client/s or by their power of attorney holders at any time,
and DEMAT shall be deemed to have reserved all rights to dishonour any
such instruction by the Client/s.
|
| 2.The Client/s
shall cause to be submitted, all necessary documents including the status of
the securities, that may be necessary for the legal transfer of securities,
which require regulatory permissions for their transfer to ICICI Securities
SERVICES and IDEMAT. The transfer of these securities shall be subject to a
clear legal title and such other delays as may be occasioned due to the
processing of such securities. All costs associated with the compliance or
failure to comply with the necessary regulatory requirements shall be sole
responsibility of the Client/s.
|
| 3.IDEMAT shall
at no time be under an obligation to notify the Client/s of any upcoming
expiration or redemption date or to take any action in relation to certain
securities including but not limited to options, warrants, stock purchase
rights, convertible securities, bonds and securities subject to a tender or
exchange offer, which grant the holder thereof valuable rights that may expire
unless the holder thereof takes a particular action. The Client/s shall be
deemed to be aware of the rights, obligations and terms of all the securities
in their account. Provided that nothing in the foregoing shall be deemed to
absolve IDEMAT from any statutory requirements, legal requirements and/or
applicable rules of regulatory authorities.
|
| 4.IDEMAT shall
not be liable to the Client/s for any loss caused to the Client/s due to any
reorganization in the securities which the Client/s hold, including, but not
limited to, stock splits and reverse stock splits. IDEMAT shall also be under
no obligation to notify the Client/s of any such reorganization IDEMAT will
also not be responsible for the title, validity or genuineness of any
securities, which have been dematerialised and notified subsequently by the
registrar of any defects in its title/validity, which has resulted in a
reduction of the dematerialised holdings in their account. |
| 5.
CONTROL" OR "RESTRICTED" SECURITIES: |
| Even if the
necessary documents are furnished in a timely manner, there may be delays with
the processing of such securities. ICICI Securities, at its sole discretion,
may require that such securities not be sold/bought or transferred until they
clear legal transfer. Client/s are responsible for all costs associated with
compliance or failure to comply with all the regulatory requirements. |
| 6.
CLIENT/S' RESPONSIBILITY REGARDING CERTAIN SECURITIES |
| Certain
securities may grant the holder thereof valuable rights that may expire unless
the holder takes action. These securities include, but are not limited to,
options, warrants, stock purchase rights, convertible securities, bonds and
securities subject to a tender or exchange offer. Client/s are responsible for
knowing the rights and terms of all securities in their account. If, due to a
reorganisation or bookkeeping or data entry error, Client/s sell more shares of
a security than Client/s own, then IDEMAT will not be responsible for any
losses Client/s may incur. |
| D.
GENERAL TERMS AND CONDITIONS/REPRESENTATIONS AND WARRANTIES. |
| 1. ICICI Securities
SERVICES shall credit the proceeds of the sale/redemption etc. of any of the
Investment Products only after ICICI Securities has received the same. The
proceeds of all sales will be credited to the Client/s' account directly on the
settlement date. |
| 2. If the
securities are not received on or before settlement date or securities received
are not in deliverable state or due to any other reason whatsoever, Client/s
are not able to deliver securities, the securities will be auctioned or closed
out as per the rules of the concerned Exchange. Consequently, Client/s will be
responsible for any resulting losses and all associated costs including penalty
levied by the Exchange. |
| 3. The Client/s
also acknowledge that the employees of ICICI Securities ICICI BANK and/or
IDEMAT are not authorized to give out any advice and the Client/s shall at all
times be responsible and liable for their own actions/inactions. The Client/s
may be able to access investment research reports through the Internet from the
web-site, including computerised on-line services. The availability of such
information does not constitute a recommendation to buy or sell any of the
Investment Products. Any investment decisions will be based solely on the
Client/s' own evaluation of financial circumstances and investment objectives.
Any real-time quotes provided are only for the Client/s' individual use and the
Client/s shall not furnish such data to any other person or entity. |
| 4. The Client/s
agree to indemnify and hold ICICI Securities, ICICI BANK and IDEMAT 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 the Web Banking, digital signatures, user ID and
password by the Client/s. |
| 5. The Client/s
hereby agree to indemnify ICICISecurities, ICICI BANK and IDEMAT for any loss,
liability, costs or damages that may be incurred by all or any of them due to a
breach of any of their obligations under the Clients Agreement. |
| 6.The Client/s
affirm and shall continue to affirm every time an order is placed though ICICI
Securities or an application preferred, as the case may be, that all
information provided and the statements made in the Account Opening Form are
true and are not misleading (whether by reason of an omission to state a
particular fact or otherwise as at the time of completing the Account Opening
Form or any time thereafter). The Client/s agree that ICICI Securities, ICICI
BANK and IDEMAT have agreed to provide to the Client/s services at
icicidirect.com based on the representations contained therein and in this
Agreement. |
| 7. The Client/s
have the required legal capacity to enter into this Agreement and are capable
of performing their obligations and undertakings hereunder. |
| 8. The Client/s
shall at all times be liable to pay ICICI Securities the brokerage, commission,
service tax and other taxes and transaction expenses as applicable/notified by
ICICI Securities on the Website from time to time. The Client/s agree that any
request for cancellation/modification of an order or an application shall be
subject to the order or application not having been acted upon or already being
executed or it being outside the control of ICICI Securities to make any
cancellation or modification to such order or application. An order or
application shall be deemed to have been executed or cancelled only after the
Client/s have received a statement from ICICI Securities intimating them of the
status of their order.
|
| 9.The Client/s
hereby agree that ICICI Securities or the Exchanges shall not be liable for the
non-execution of any order caused due to any suspension, interruption,
non-availability or malfunctioning of the online trading service or the
Exchange system or service for any reasons whatsoever.
|
| 10. The Client/s
agree that ICICI Securities, ICICI BANK and IDEMAT may enforce any of the
rights, duties and obligations arising under this Agreement or any related
document including the power of attorney either jointly or independently and
nothing in this Agreement shall be construed in a manner so as to restrict the
right of ICICI Securities, ICICI BANK and IDEMAT to initiate any action
jointly. |
11. The Client/s
agree & authorise IDEMAT to block any security sold from the designated
security account against their order or the order of their power of attorney
holders' order to sell securities. If their order gets executed either fully or
partially then the securities sold would be transferred to the ICICI Securities
SERVICES Account on designated date & the balance securities, if any, would
be unblocked on the trade date.
|
12. The Client/s
agree to and undertake to deposit with ICICI Securities such cash, securities
or other acceptable securities as may be required as a margin, in addition to
the permanent margin, which may be higher than the margin as prescribed by the
Exchange.
|
13. The Client/s
shall choose a password that shall be at least 6 characters long and shall at
all times keep the Client/s'-Identification and password confidential. Further,
at such time and within such period as ICICI Securities may require, the
Client/s shall obtain and maintain during the term of this Agreement, digital
signatures, which would aid and assist the Parties and the Client/s to
authenticate all or any electronic transactions made at icicidirect.com. The
Client/s shall be responsible for keeping the Client/s'-Id and password and/or
digital signature confidential and secure and shall be solely responsible for
all orders and transaction that are entered and executed using the password
and/or digital signature whether or not such person was authorised to do so. In
the event of an apprehension of unauthorized access, the Client/s shall
immediately cause the password and/or digital signature to be changed. The
Client/s shall at no time allow any unauthorized person access to their account
and shall ensure that they log off every time they are not using the service.
The Client/s shall forthwith intimate ICICI Securities of any unauthorized
usage of the same with full details of the date, the manner, the transactions
executed after the unauthorized use.
|
| 14. The Client/s
acknowledge that they are fully aware of the risks involved in online trading
activities, including the risk involved due to unauthorized access or any
technical difficulties. |
| 15. The Client/s
shall at all times continue to be responsible for any transaction ordered on
their accounts prior to the cancellation of the services. If the service is
withdrawn for a reason other than the breach of the terms and conditions by the
Client/s, the liability of ICICI Securities, ICICI BANK and IDEMAT shall be
restricted to the return of the annual charges, if any, recovered from the
Client/s for the period in question. The closure of the accounts of the
Client/s shall automatically terminate the web based brokerage service
facilitated by icicidirect.com. ICICI Securities, ICICI BANK and IDEMAT may
suspend or terminate trading facilities without prior notice if the Client/s
have breached these terms and conditions or it learns of the death, bankruptcy
or lack of legal capacity of the Client/s.
|
| 16. No
forbearance, relaxation, failure or delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise of any other right, power or privilege. The rights
and remedies herein provided shall be cumulative and not exclusive of any
rights or remedies provided by law. |
| 17. ICICI
Securities, ICICI BANK and IDEMAT may in their sole discretion close the
accounts of the Client/s in the event of death or insolvency of the Client/s. |
18. ICICI Securities may send
the order/trade confirmation slip/online intimation of successful/unsuccessful
applications through e-mail to the Client/s at their request, within such
period as prescribed or reasonably possible/practicable for ICICI Securities to
so to do from the time of execution of order/trade on the National Exchange for
Automated Trading (NEAT)/ BSE on-line Trading (BOLT) system or such other third
party as the case may be for effecting purchase/sale or preferring an
application for an investment product, as the case may be, or by means of
electronic record, duly authenticated by ICICI Securities's digital signature,.
The Client/s agree that the information sent by ICICI Securities by e-mail is
deemed to be a valid delivery of such information by ICICI Securities.
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