Terms And Conditions
The Cash Segment
This document contains important information regarding the terms and conditions, which apply to your E-Trading Account with us. PLEASE READ THIS DOCUMENT CAREFULLY and retain it for future reference. Please note that the information contained herein is subject to change without notice.
Opening your E-Trading Account
To start E-Trading with Sharekhan need to open a trading Account and a Depository (or Demat shares) Account with us. our sponsors. All receipts and payments for buying and selling of shares and all commissions and charges will be posted to your trading Account . Shares which you buy and sell through the trading Account will be received in or delivered from your demat Account.
Trading account refers to the account of client maintained by us in their books of accounts.
Demat account refers to the account opened by you with Depository for holding securities in electronic form. For the purpose of E-Broking through us demat account refers to the account opened by client with National Securities Depository Limited (NSDL) through us as Depository Participants (DP)
If you already have a demat Account with us, then the same Account can be linked to your E-Trading Account. Just give us your Account details at the time of becoming an E-Trading customer.
Before we can make your Account operative, we require that you fill and sign all forms / agreements which form part of your Account opening kit, and supply us with all the relevant legal documents and financial information which law requires us to maintain You warrant and represent that the information that you supply in your Account Application (or other information that we may require) is accurate and truthful. You also expressly authorize we to obtain reports concerning your credit standing and business conduct.
If your application is approved, we will open an E-Trading Account (an "Account") for you. We reserve the absolute right to either accept or reject your application on any grounds whatsoever and you agree that you shall not dispute the result in any manner whatsoever.
B] Investment Advice
You acknowledge that while we does provide advice regarding the suitability or profitability of a Scrip or investment, or any other tax or legal advice it may add on from time to time, You assume full responsibility with respect to transactions in or for your Account and your investment decisions.
We or our officers, directors, employees, agents and affiliates will have no liability with respect to transactions in or for your Account and your investment decisions.
C] Applicable Rules and Regulations
All transactions in your Account shall be subject to the constitution, rules, regulations, customs and usage of the exchange or market, and its clearing house, if any, where the transactions are executed by us or by our agents, including our subsidiaries and affiliates. Also, where applicable, the transactions shall be subject to the provisions of the Securities and Contracts Regulations Act (SCRA), as amended, and to the rules and regulations of the Securities and Exchange Board of India (SEBI), National Securities Depository Limited (NSDL), the exchanges where we will facilitate trading, and any applicable self-regulatory organization.
D] Type of Account
We provides facility for delivery trading and margin trading.
E] Who is eligible?
You can open these Accounts if you are over 18 years and if you will operate this on an individual basis. It is open for resident Indian only. Indian regulations require us to maintain basic financial details about each client. You need to provide us the details of your bank Account. Your signatures on the Account opening form need to be the same, as maintained in the bank records. All Resident Individuals need to provide us Income Tax returns details - IT PAN/GIR number, during your Account opening process.
F] Commissions and fees
For Intra-day Trades :-
0.1% on the buy side and 0.1% on the sell side. This is subject to a minimum brokerage of 5 paise per share. This means that if the share price you trade in is Rs 50/- or less, a minimum brokerage of 5 paise per share will be charged.
For Delivery Based Trades :-
0.5% on the buy side and 0.5% on the sell side. This is subject to a minimum brokerage of 10 paise per share. Minmum brokerage of 10 paise per share will be applicable when the share price is Rs 20/- or less.
Brokerage of Rs 16/- per scrip will be applicable when the total traded value is Rs 3200/- or less in case of sell transaction.
G] Depositary Account
Your demat Account can be held jointly with other people (typically relatives). For your demat Account, an instruction given to us by someone who knows your password will be necessary and sufficient condition to effect a transaction. Please note that normally regulations require both the Account holders to sign on instruction but that you are agreeable to any transactions on such Account being executed in the manner outlined above.
You can also nominate someone in your Demat Account, who becomes the beneficiary of the shares held in the Account in the unfortunate event of your demise.
H] Exchange and segment you can trade on
We currently execute all trades at the National Stock Exchange of India Limited. For all the stocks which are in the compulsory rolling segment (EQ series, on NSE) trades will be executed in this segment. We may add other exchanges (Mumbai Stock Exchange , BSE) later.
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