FILE NO.
For Office Use only
  MCX
  NCDX
Serial No. :
Date :
Client Code :
Client’s Name :
Branch Name :
Branch Code :
www.elitewealth.in
Elite Comtrade Private Limited
MEMBER : MULTI COMMODITY EXCHANGE OF INDIA LTD.
MCX MEMBERSHIP NO. : 12325 • FMC Code : MCX/TCM/CORP/0330
MEMBER : NATIONAL COMMODITY AND DERIVATIVES EXCHANGE
NCDEX MEMBERSHIP NO. : 01075 • FMC Code : NCDEX/TCM/CORP/1052
Regd. Office : S-8, DDA Shopping Complex, Mayur Vihar, Phase-I, Delhi-110091
Tel.: 011-43035555, 40000704 Fax : 011-22793402
CLIENT REGISTRATION FORM
IN PERSON VERIFICATION
 
Name (Branch/AP) :
Employee Name :
Signature :
Date : Place :
Signature of Applicant :  
Client Signature  
 
 
 
www.elitewealth.in
Elite Comtrade Private Limited
 
Exchange Name Membership Code FMC ID
MCX 12325 MCX/TCM/CORP/0330
NCDEX 01075 NCDEX/TCM/CORP/1052
 
Regd. Office : S-8, DDA Shopping Complex, Mayur Vihar, Phase-I, Delhi-110091
Phone : +91-11-43035555, 40000704 • Fax : +91-11-22793402
E-mail : info@elitewealth.in • Website : www.elitewealth.in
 
Compliance Officer’s Details
Name : Paramvir Singh Virdi
Phone No. : +91-11-40000704
E-mail Id : compliance@elitewealth.in
 
COO’s Details
Name : Vikram Luthra
Phone No. : +91-11-43035516
E-mail Id : vikramluthra@elitewealth.in
 
For any grievance/dispute please contact Elite Comtrade Private Limited at the above address or email id
investorquery@ elitestock.com and Phone No. 011-43035555, 40000704 In case not satisfied with the
response, please contact the concerned exchange(s) at :
 
Exchange NameE-mail IDPhone No.
MCXinfo@mcxindia.com022-66494000
NCDEXaskus@ncdex.com022-66406789
 
About Internet & Wireless Based Trading Facilities
Tick the mode of Trading
 
ACCOUNT OPENING KIT
INDEX OF DOCUMENTS
S. No. Name of Document Brief Significance of the Document Page No.
MANDATORY DOCUMENTS AS PRESCRIBED BY FMC & EXCHANGES
1. KYC (Account Opening)
application form
KYC form - Document captures the basic information about the constituent
and an instruction/check list.
1-8
2. Uniform Risk Disclosure
Document (RDD)
Document detailing risks associated with dealing in the commodities market. 9-11
3. Rights and Obligations of
Members, Authorized Persons
and Clients
Document stating the Rights & Obligations of member, Authorized Person
and client for trading on exchanges (including additional rights &
obligations in case of internet/wireless technology based trading).
12-16
4. Do’s and Don’ts for the Investors Document detailing do’s and don’ts for trading on exchange, for the
education of the investors.
17-18
5. Undertaking for Not Exceeding
Position Clients - MCX/NCDEX
Undertaking 19
VOLUNTARY DOCUMENTS AS PROVIDED BY THE MEMBER *
6. Running Account Authorisation Authorisation 20
7. Letter of Authority Authorisation to Member 21
8. Supplementary Agreement Supplementary Agreement - MCX / NCDEX 22-31
9. Electronic Contract Note [ECN] Declaration 32
10. Declaration for Name Mismatch Declaration 33
11. Declaration By HUF Declaration 33
12. Authorisation Letter For
Authorised Person
Authorisation to Member 34
13. Format of Board Resolution Format 35
• *Following documents should not form part of either mandatory or Voluntary documents:
1) Authorization letter for any inter family / group company / related accounts adjustment
2) Authorization of adjustment of funds among securities exchange and commodities exchange
TARIFF SHEET
  MCX NCDEX
  NORMAL PER LOT MINIMUM NORMAL PER LOT MINIMUM
DELIVERY            
NON-DELIVERY            
NOTE :
1. CTT, Transaction charges, Stamp Duty, Service Tax, Clearing Member Charges and all legal levies as may be applicable from time to time shall be charged separately in addition to the brokerage.
2. If any cost (Courier, DP charges etc.) is incurred on the behalf of client, same shall be recovered from the client's trading account on actual basis.
3. In case of overdue debit balance in client's account, member reserves the right to debit delay payment charge upto 2% p.m. to the client's account.
4. In case Diet ID has been provided to the client a ID Charge @ ___________ % of turnover or Rs ______________ /- per month per segment shall be charged extra.
5. Charges/ service standards are subject to revision at sole discretion of Elite Comtrade Private Limited.
6. Charges quoted above are for the services listed. Any service not quoted above will be charged separately.
Client Signature
 
INSTRUCTIONS/CHECK LIST FOR FILLING KYC FORM
 
A. IMPORTANT POINTS
  1 Self attested copy of PAN card is mandatory for all clients, including Promoters/Partners/Karta/Trustees and whole time directors and persons authorized to deal in commodity derivatives on behalf of company/firm/others.
  2. Copies of all the documents submitted by the applicant should be self-attested and accompanied by originals for verification. In case the original of any document is not produced for verification, then the copies should be properly attested by entities authorized for attesting the documents, as per the below mentioned list.
  3. If any proof of identity or address is in a regional language, then translation into English is required.
  4. Name & address of the applicant mentioned on the KYC form, should match with the documentary proof submitted.
  5. If correspondence & permanent address are different, then proofs for both have to be submitted.
  6. Sole proprietor must make the application in his individual name & capacity.
  7. For non-residents and foreign nationals, (allowed to trade subject to RBI and FIPB/FEMA guidelines and other applicable statutory approvals), copy of passport/PIO Card/OCI Card and overseas address proof is mandatory.
  8. For foreign entities, CIN is optional; and in the absence of DIN no. for the directors, their passport copy should be given.
  9. In case of Merchant Navy NRI’s, Mariner’s declaration or certified copy of CDC (Continuous Discharge Certificate) is to be submitted along with other statutory approvals required for investment in commodities.
  10. Politically Exposed Persons (PEP) are defined as individuals who are or have been entrusted with prominent public functions in a foreign country, e.g., Heads of States or of Governments, senior politicians, senior Government/judicial/ military officers, senior executives of state owned corporations, important political party officials, etc.
 
B. Proof of Identity (POI)
  List of documents admissible as Proof of Identity:
  1. Unique Identification Number (UID) (Aadhaar)/ Passport/ Voter ID card/ Driving license.
  2. PAN card with photograph.
  3. Identity card issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions,
 
  Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members; and Credit cards/Debit cards issued by Banks.
C. Proof of Address (POA)
  List of documents admissible as Proof of Address:
  (Note: Documents having an expiry date should be valid on the date of submission.)
  1. Passport/ Voters Identity Card/ Ration Card/ Registered Lease or Sale Agreement of Residence/ Driving License/ Flat Maintenance bill/ Insurance Copy.
  2. Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill - Not more than 3 months old.
  3. Bank Account Statement/Passbook -- Not more than 3 months old.
  4. Proof of address issued by any of the following: Bank Managers of Scheduled Commercial Banks/Scheduled Co-Operative Bank/Multinational Foreign Banks/ Gazetted Officer/Notary public/Elected representatives to the Legislative Assembly/Parliament/Documents issued by any Govt. or Statutory Authority.
  5. Identity card/document with address, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities and Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members.
  6. The proof of address in the name of the spouse may be accepted.
D. Exemptions to PAN
  (Note: Sufficient documentary evidence in support of such claims to be collected.)
  1. Transactions undertaken on behalf of Central Government and/or State Government and by officials appointed by Courts e.g. Official liquidator, Court receiver etc.
  2. Investors residing in the State of Sikkim (subject to the continued exemption granted by Government).
E. List of people authorized to attest the documents:
  1. Notary Public, Gazetted Officer, Manager of a Scheduled Commercial/ Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).
  2. In case of NRIs, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy /Consulate General in the country where the client resides are permitted to attest the documents.
 
F.In case of Non-Individuals, additional documents to be obtained from non-individuals, over & above the POI & POA, as mentioned below :
Type of Entity Documentary Requirements
Corporate
  • Copy of the balance sheets for the last 2 financial years (to be submitted every year).
  • Copy of latest share holding pattern including list of all those holding control, either directly or indirectly, in the company in terms of SEBI takeover Regulations, duly certified by the company secretary/Whole time director/MD (to be submitted every year).
  • Photograph, POI, POA, PAN and DIN numbers of whole time directors/two directors in charge of day to day operations.
  • Photograph, POI, POA, PAN of individual promoters holding control - either directly or indirectly.
  • Copies of the Memorandum and Articles of Association and certificate of incorporation.
  • Copy of the Board Resolution for investment in commodity market.
  • Copy of Board Resolution or declaration (on the letterhead) naming the persons authorized to deal in commodity derivatives on behalf of company/firm/others and their specimen signatures.
Partnership Firm
  • Copy of the balance sheets for the last 2 financial years (to be submitted every year).
  • Certificate of registration (for registered partnership firms only).
  • Copy of partnership deed.
  • Authorised signatories list with specimen signatures.
  • Photograph, POI, POA, PAN of Partners.
Trust
  • Copy of the balance sheets for the last 2 financial years (to be submitted every year).
  • Certificate of registration (for registered trust only).
  • Copy of Trust deed.
  • List of trustees certified by managing trustees/CA.
  • Photograph, POI, POA, PAN of Trustees.
HUF
  • PAN of HUF.
  • Deed of declaration of HUF/ List of coparceners.
  • Bank pass-book/bank statement in the name of HUF.
  • Photograph, POI, POA, PAN of Karta.
Government Bodies
  • Self-certification on letterhead.
  • Authorized signatories list with specimen signatures.
Registered Society
  • Copy of Registration Certificate under Societies Registration Act.
  • List of Managing Committee members.
  • Committee resolution for persons authorised to act as authorised signatories with specimen signatures.
  • True copy of Society Rules and Bye Laws certified by the Chairman/Secretary
Docket - A
                    
 
KNOW YOUR CLIENT (KYC) APPLICATION FORMAnnexure-1
Please fill this form in ENGLISH and in BLOCK LETTERS
FOR INDIVIDUAL
A. IDENTITY DETAILS
Name of the Applicant :
Father’s/Spouse Name :
Gender :
Marital Status :
Date of Birth : Nationality :
Status :
(If Non Resident / Foreign National, self-certified copy of statutory approval obtained must be attached)
PAN :
Unique Identification Number (UID)/ Aadhaar, if available
Any other additional proof of identity :
B.ADDRESS DETAILS
(Proof of address must be different from the proof of identity submitted).
Address for Correspondence :
City/ district /village : Pin Code :
State : Country :
Contact Details :
Tel.(Off.)# : Tel.(Res.)# Mobile No.:
Fax : E-mail Id :
Specify the proof of address submitted for correspondence address :
Permanent Address
(if different from above)
:
  (Check if same as correspondance) :
City/ district /village : Pin Code :
State : Country :
Tel.(Off.)# : Tel.(Res.)# Mobile No.:
Fax : E-mail Id :
Specify the proof of address submitted for permanent address, if any:
# If you have a landline connection, kindly provide the same
C.OTHER DETAILS
Gross Annual Income Details (please specify):
Income Range per annum :
Net-worth as on (date)  (Net worth should not be older than 1 year)
Occupation (please tick any one and give brief details)
Others (Specify)
Please tick, as applicable

D.BANK ACCOUNT(S) DETAILS
Bank Name :
Branch address :
Bank account no. :
Account Type :
MICR Number :
IFSC code    
Note: Provide a copy of cancelled cheque leaf/ pass book/bank statement specifying name of the client, MICR Code or/and IFSC Code of the bank.
(1)
 
E.DEPOSITORY ACCOUNT(S) DETAILS, if available
Depository Participant Name :
Depository Name :
DP ID   BO ID  
DP ID   BO ID  
Beneficiary name :
Note: Provide a copy of either Demat Master or a recent holding statement issued by DP bearing name of the client.
F.TRADING PREFERENCES
Note: Please sign in the relevant boxes against the Exchange with which you wish to trade. The Exchange not chosen should be struck off by the client.
 
  Sr. No. Name of the National
Commodity Exchanges
Date of Consent for
trading on concerned
Exchange
Signature of the Client
  1.    MCX    
  2.    NCDEX    
[In case of allowing a client for trading on any other Exchange at a later date, which is not selected now, a separate consent letter is required to be obtained by the Member from client and to be kept as enclosure with this document]
G.INVESTMENT/TRADING EXPERIENCE
  •    Years in Commodities
  •    Years in other investment related fields
H.SALES TAX REGISTRATION DETAILS (As applicable, State wise)
  • Local Sales Tax State Registration No.
  • Name of the State
  • Central Sales Tax Registration No.
  • Other Sales Tax State Registration No.
  • Name of the State
  • :   
    :   
    :   
    :   
    :   
  • Validity Date :
  •  
  • Validity Date :
  • Validity Date :
  •  
     
     
    I.VAT DETAILS (As applicable, State wise)
  • Local VAT Registration No.
  • Name of the State
  • Other VAT Registration No.
  • Name of the State
  • :   
    :   
    :   
    :   
  • Validity Date :
  •  
     
  • Validity Date :
  •  
     
    J.PAST REGULATORY ACTIONS
    Details of any action/proceedings initiated/pending/ taken by FMC/ SEBI / Stock exchange / Commodity exchange/any other authority against
    the client during the last 3 years :
    (2)
     
    K.DEALINGS THROUGH OTHER MEMBERS
    • If client is dealing through any other Member, provide the following details (in case dealing with multiple Members, provide details of all in a separate sheet containing all the information as mentioned below) :
    Member’s / Authorized Person (AP)’s Name :
    Exchange :
    Exchange’s Registration number :
    Concerned Member’s Name with whom the AP is registered :
    Registered office address :
    Ph : Fax :
    Email : Website :
    Client Code :
    Details of disputes/dues pending from/to such Member/AP :
    L.INTRODUCER DETAILS (optional)
    Name of the Introducer :
    Status of the Introducer :
    Address and phone no. of the Introducer :
    Signature of the Introducer :  
    M.ADDITIONAL DETAILS
    Whether you wish to receive communication from Member in electronic form on your Email-id [ ];
    { If yes then please fill in Appendix-A}
    N.NOMINATION DETAILS
    Name of the Nominee :
    Relationship with the Nominee :
    PAN of Nominee :   Date of Birth of Nominee :
    Address and phone no. of the Nominee :
    If Nominee is a minor, details of guardian:
    Name of guardian :
    Address and phone no. of Guardian :
    Signature of guardian :
    WITNESSES (Only applicable in case the account holder has made nomination)
    Name : Name :
    Signature : Signature :
    Address : Address :
    (3)
     
    DECLARATION
    1. I/We hereby declare that the details furnished above are true and correct to the best of my/our knowledge and belief and I/we undertake to inform you of any change therein, immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting, I am/we are aware that I/we may be held liable for it.
    2. I/We confirm having read/been explained and understood the contents of the tariff sheet and all voluntary/non-mandatory documents.
    3. I/We further confirm having read and understood the contents of the ‘Rights and Obligations’ document(s), ‘Risk Disclosure Document’ and ‘Do’s and Dont’s’. I/We do hereby agree to be bound by such provisions as outlined in these documents. I/We have also been informed that the standard set of documents has been displayed for Information on Member’s designated website, if any.
    Place :
    Signature of Client
     
    Date :    
    FOR OFFICE USE ONLY
    UCC Code allotted to the Client :
       
      Documents verified with Originals
    Name of the Employee  
    Employee Code  
    Designation of the Employee  
    Date  
    Signature  
    I / We undertake that we have made the client aware of tariff sheet and all the voluntary/non-mandatory documents. I/We have also made the client aware of ‘Rights and Obligations’ document (s), RDD, ‘Do’s and Dont’s’ and Guidance Note. I/We have given/sent him a copy of all the KYC documents. I/We undertake that any change in the tariff sheet and all the voluntary/non-mandatory documents would be duly intimated to the clients. I/We also undertake that any change in the ‘Rights and Obligations’ and RDD would be made available on my/our website, if any, for the information of the clients.
    Signature of the Authorised Signatory Date Seal/Stamp of the Member
     
    (4)
     
    KNOW YOUR CLIENT (KYC) APPLICATION FORMAnnexure-1
    Please fill this form in ENGLISH and in BLOCK LETTERS
    FOR NON-INDIVIDUALS
    A. IDENTITY DETAILS
    Name of the Applicant :
    Date of incorporation :
    & Place of incorporation:
    Date of Commencement of Business :
    PAN :
       
    Registration No. (e.g. CIN) :
       
    Any other additional proof of identity :  
    Status (please tick any one) :


    B.ADDRESS DETAILS
    (Proof of address must be different from the proof of identity submitted).
    Address for Correspondence :
    City/ district /village : Pin Code :
    State : Country :
    Contact Details :
    Tel.(Off.)# : Tel.(Res.)# Mobile No.:
    Fax : E-mail Id :
    Specify the proof of address submitted for correspondence address :
    Registered Address
    (if different from above)
    :
      (Check if same as correspondance) :
    City/ district /village : Pin Code :
    State : Country :
    Tel.(Off.)# : Tel.(Res.)# Mobile No.:
    Fax : E-mail Id :
    Specify the proof of address submitted for registered address, if applicable:
    # If you have a landline connection, kindly provide the same
    C.OTHER DETAILS
    Gross Annual Income Details (please specify): Income Range per annum :
    Net-worth as on (date)  (*Net worth should not be older than 1 year)
    Name, PAN, residential address and photographs of Promoters / Partners / Karta /Trustees and whole time directors
    Name (1) :
    PAN :
    Residential :
    City/Town/Village : Pin Code :
    State : Country :
    DIN / UID :
    Please tick, if applicable, for any of your authorized signatories/Promoters/Partners/Karta/Trustees/whole time directors:
    Any Other Information:
    (5)
     

    Name (2) :
    PAN :
    Residential :
    City/Town/Village : Pin Code :
    State : Country :
    DIN / UID :
    Please tick, if applicable, for any of your authorized signatories/Promoters/Partners/Karta/Trustees/whole time directors:
    Any Other Information:
    # If you have a landline connection, kindly provide the same

    Name (3) :
    PAN :
    Residential :
    City/Town/Village : Pin Code :
    State : Country :
    DIN / UID :
    Please tick, if applicable, for any of your authorized signatories/Promoters/Partners/Karta/Trustees/whole time directors:
    Any Other Information:
    # If you have a landline connection, kindly provide the same

    Name (4) :
    PAN :
    Residential :
    City/Town/Village : Pin Code :
    State : Country :
    DIN / UID :
    Please tick, if applicable, for any of your authorized signatories/Promoters/Partners/Karta/Trustees/whole time directors:
    Any Other Information:
    # If you have a landline connection, kindly provide the same
    D.BANK ACCOUNT(S) DETAILS
    Bank Name :
    Branch address :
    Bank account no. :
    Account Type :
    MICR Number :
    IFSC code    
    Note: Provide a copy of cancelled cheque leaf/ pass book/bank statement specifying name of the client, MICR Code or/and IFSC Code of the bank.
    E.DEPOSITORY ACCOUNT(S) DETAILS, if available
    Depository Participant Name :
    Depository Name :
    DP ID   BO ID  
    DP ID   BO ID  
    Beneficiary name :
    Note: Provide a copy of either Demat Master or a recent holding statement issued by DP bearing name of the client.
    F.TRADING PREFERENCES
    Note: Please sign in the relevant boxes against the Exchange with which you wish to trade. The Exchange not chosen should be struck off by the client.
     
      Sr. No. Name of the National
    Commodity Exchanges
    Date of Consent for
    trading on concerned
    Exchange
    Signature of the Client
      1.    MCX  
         
      2.    NCDEX  
         
    [In case of allowing a client for trading on any other Exchange at a later date, which is not selected now, a separate consent letter is required to be obtained by the Member from client and to be kept as enclosure with this document]
    G.INVESTMENT/TRADING EXPERIENCE
    •    Years in Commodities
    •    Years in other investment related fields
    H.SALES TAX REGISTRATION DETAILS (As applicable, State wise)
  • Local Sales Tax State Registration No.
  • Name of the State
  • Central Sales Tax Registration No.
  • Other Sales Tax State Registration No.
  • Name of the State
  • :   
    :   
    :   
    :   
    :   
  • Validity Date :
  •  
  • Validity Date :
  • Validity Date :
  •  
     
     
    I.VAT DETAILS (As applicable, State wise)
  • Local VAT Registration No.
  • Name of the State
  • Other VAT Registration No.
  • Name of the State
  • :   
    :   
    :   
    :   
  • Validity Date :
  •  
     
  • Validity Date :
  •  
     
    J.PAST REGULATORY ACTIONS
    Details of any action/proceedings initiated/pending/ taken by FMC/ SEBI / Stock exchange / Commodity exchange/any other authority against
    the client during the last 3 years :
    (7)
     
    K.DEALINGS THROUGH OTHER MEMBERS
    • If client is dealing through any other Member, provide the following details (in case dealing with multiple Members, provide details of all in a separate sheet containing all the information as mentioned below) :
    Member’s / Authorized Person (AP)’s Name :
    Exchange :
    Exchange’s Registration number :
    Concerned Member’s Name with whom the AP is registered :
    Registered office address :
    Ph : Fax :
    Email : Website :
    Client Code :
    Details of disputes/dues pending from/to such Member/AP :
    L.INTRODUCER DETAILS (optional)
    Name of the Introducer :
    Status of the Introducer :
    Address and phone no. of the Introducer :
    Signature of the Introducer :  
    M.ADDITIONAL DETAILS
    Whether you wish to receive communication from Member in electronic form on your Email-id [ ];
    { If yes then please fill in Appendix-A}
    DECLARATION
    1. I/We hereby declare that the details furnished above are true and correct to the best of my/our knowledge and belief and I/we undertake to inform you of any changes therein, immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting, I am/we are aware that I/we may be held liable for it.
    2. I/We confirm having read/been explained and understood the contents of the tariff sheet and all voluntary/non-mandatory documents.
    3. I/We further confirm having read and understood the contents of the ‘Rights and Obligations’ document(s), ‘Risk Disclosure Document’ and ‘Do’s and Dont’s’. I/We do hereby agree to be bound by such provisions as outlined in these documents. I/We have also been informed that the standard set of documents has been displayed for Information on Member’s designated website, if any.
    Place :
     
        Signature of (all) Authorized Signatory (ies)*
    Date :  
    *Form need to be signed by all the authorized signatories.
    FOR OFFICE USE ONLY
    UCC Code allotted to the Client :
       
    Name of the Employee Documents verified with Originals
    Employee Code  
    Designation of the Employee  
    Date  
    Signature  
    I / We undertake that we have made the client aware of tariff sheet and all the voluntary/non-mandatory documents. I/We have also made the client aware of ‘Rights and Obligations’ document (s), RDD, ‘Do’s and Dont’s’ and Guidance Note. I/We have given/sent him a copy of all the KYC documents. I/We undertake that any change in the tariff sheet and all the voluntary/non-mandatory documents would be duly intimated to the clients. I/We also undertake that any change in the ‘Rights and Obligations’ and RDD would be made available on my/our website, if any, for the information of the clients.
    Signature of the Authorised Signatory Date Seal/Stamp of the Member
    (8)
    RISK DISCLOSURE DOCUMENT
    The Exchange does not expressly or impliedly, guarantee nor make any representation concerning the completeness, the adequacy or accuracy of this disclosure documents nor has the Exchange endorsed or passed any merits of participating in the Commodity Derivatives market/trading. This brief statement does not disclose all of the risks and other significant aspects of trading. You should, therefore, study derivatives trading carefully before becoming involved in it.
    In the light of the risks involved, you should undertake transactions only if you understand the nature of the contractual relationship into which you are entering and the extent of your exposure to risk.
    You must know and appreciate that investment in commodity futures contracts/ derivatives or other instruments traded on the Commodity Exchange(s), which have varying element of risk, is generally not an appropriate avenue for someone of limited resources/ limited investment and/ or trading experience and low risk tolerance. You should, therefore, carefully consider whether such trading is suitable for you in the light of your financial condition. In case, you trade on the Exchange and suffer adverse consequences or loss, you shall be solely responsible for the same and the Exchange shall not be responsible, in any manner whatsoever, for the same and it will not be open for you to take the plea that no adequate disclosure regarding the risks involved was made or that you were not explained the full risk involved by the concerned member. The Client shall be solely responsible for the consequences and no contract can be rescinded on that account.
    You must acknowledge and accept that there can be no guarantee of profits or no exception from losses while executing orders for purchase and/or sale of a commodity derivatives being traded on the Exchange.
    It must be clearly understood by you that your dealings on the Exchange through a member shall be subject to your fulfilling certain formalities set out by the member, which may, inter alia, include your filing the know your client form and are subject to Rules, Byelaws and Business Rules of the Exchange guidelines prescribed by FMC from time to time and circulars as may be issued by the Exchange from time to time.
    The Exchange does not provide or purport to provide any advice and shall not be liable to any person who enters into any business relationship with any member of the Exchange and/ or third party based on any information contained in this document. Any information contained in this document must not be construed as business advice/
     
    investment advice. No consideration to trade should be made without thoroughly understanding and reviewing the risks involved in such trading. If you are unsure, you must seek professional advice on the same.
    In considering whether to trade, you should be aware of or must get acquainted with the following:-
    1. Basic Risks involved in the trading of Commodity Futures Contracts and other Commodity Derivatives Instruments on the Exchange.
    i. Risk of Higher Volatility
    Volatility refers to the dynamic changes in price that commodity derivative contracts undergo when trading activity continues on the Commodity Exchange. Generally, higher the volatility of a commodity derivatives contract, greater is its price swings. There may be normally greater volatility in thinly traded commodity derivatives contracts than in actively traded commodities/ contracts. As a result of volatility, your order may only be partially executed or not executed at all, or the price at which your order got executed may be substantially different from the last traded price or change substantially thereafter, resulting in real losses.
    ii. Risk of Lower Liquidity
    a. Liquidity refers to the ability of market participants to buy and/ or sell commodity derivative contract expeditiously at a competitive price and with minimal price difference. Generally, it is assumed that more the number of orders available in a market, greater is the liquidity. Liquidity is important because with greater liquidity, it is easier for investors to buy and/ or sell commodity derivatives contracts swiftly and with minimal price difference and as a result, investors are more likely to pay or receive a competitive price for commodity derivative contracts purchased or sold. There may be a risk of lower liquidity in some commodity derivative contracts as compared to active commodity derivative contracts. As a result, your order may only be partially executed, or may be executed with relatively greater price difference or may not be executed at all.
    b. Buying/ Selling without intention of giving and/ or taking delivery of certain commodities may also result into losses, because in such a situation, commodity derivative contracts may have to be
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    squared-off at a low/ high prices, compared to the expected price levels, so as not to have any obligation to deliver/ receive such commodities.
    iii. Risk of Wider Spreads
    a. Spread refers to the difference in best buy price and best sell price. It represents the differential between the price of buying a commodity derivative and immediately selling it or vice versa. Lower liquidity and higher volatility may result in wider than normal spreads for less liquid or illiquid commodities/ commodity derivatives contracts. This in turn will hamper better price formation.
    iv. Risk-reducing orders
    a. Most of the Exchanges have a facility for investors to place “limit orders”, “stop loss orders” etc. Placing of such orders (e.g. “stop loss” orders or “limit” orders) which are intended to limit losses to certain amounts may not be effective many a time because rapid movement in market conditions may make it impossible to execute such orders.
    b. A “market” order will be executed promptly, subject to availability of orders on opposite side, without regard to price and that while the customer may receive a prompt execution of a “market” order, the execution may be at available prices of outstanding orders, which satisfy the order quantity, on price time priority. It may be understood that these prices may be significantly different from the last traded price or the best price in that commodity derivatives contract.
    c. A “limit” order will be executed only at the “limit” price specified for the order or a better price. However, while the client received price protection, there is a possibility that the order may not be executed at all.
    d. A stop loss order is generally placed "away" from the current price of a commodity derivatives contract, and such order gets activated if and when the contract reaches, or trades through, the stop price. Sell stop orders are entered ordinarily below the current price, and buy stop orders are entered ordinarily above the current price. When the contract approaches pre-determined price, or trades through such price, the stop loss order converts to a market/limit order and is executed at the limit or better. There is no assurance therefore that the limit order will be executable since a contract might penetrate the predetermined price, in which case, the risk of such order not
    getting executed arises, just as with a regular limit order.
    v. Risk of News Announcements
    a. Traders/Manufacturers make news announcements that may impact the price of the commodities and/or commodity derivatives contracts. These announcements may occur during trading and when combined with lower liquidity and higher volatility may suddenly cause an unexpected positive or negative movement in the price of the commodity/ commodity derivatives contract.
    vi. Risk of Rumours
    a. Rumours about the price of a commodity at times float in the market through word of mouth, newspaper, websites or news agencies, etc., the investors should be wary of and should desist from acting on rumours.
    vii. System Risk
    a. High volume trading will frequently occur at the market opening and before market close. Such high volumes may also occur at any point in the day. These may cause delays in order execution or confirmation.
    b. During periods of volatility, on account of market participants continuously modifying their order quantity or prices or placing fresh orders, there may be delays in execution of order and its confirmation.
    c. Under certain market conditions, it may be difficult or impossible to liquidate a position in the market at a reasonable price or at all, when there are no outstanding orders either on the buy side or the sell side, or if trading is halted in a commodity due to any action on account of unusual trading activity or price hitting circuit filters or for any other reason.
    viii. System/ Network Congestion
    a. Trading on the Exchange is in electronic mode, based on satellite/ leased line communications, combination of technologies and computer systems to place and route orders. Thus, there exists a possibility of communication failure or system problems or slow or delayed response from system or trading halt, or any such other problem/ glitch whereby not being able to establish access to the trading system/network, which may be beyond the control of and may result in delay in processing or not processing buy or sell orders either in part or in full. You are cautioned to note that although these problems
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    may be temporary in nature, but when you have outstanding open positions or unexecuted orders, these represent a risk because of your obligations to settle all executed transactions.
    2. As far as Futures Commodity Derivatives are concerned, please note and get yourself acquainted with the following additional features:-
    Effect of "Leverage" or "Gearing":
    a. The amount of margin is small relative to the value of the commodity derivatives contract so the transactions are 'leveraged' or 'geared'. Commodity Derivatives trading, which is conducted with a relatively small amount of margin, provides the possibility of great profit or loss in comparison with the principal investment amount. But transactions in commodity derivatives carry a high degree of risk. You should therefore completely understand the following statements before actually trading in commodity derivatives contracts and also trade with caution while taking into account one's circumstances, financial resources, etc.
    b. Trading in Futures Commodity Derivatives involves daily settlement of all positions. Every day the open positions are marked to market based on the closing price. If the closing price has moved against you, you will be required to deposit the amount of loss (notional) resulting from such movement. This margin will have to be paid within a stipulated time frame, generally before commencement of trading on the next day.
    c. If you fail to deposit the additional margin by the deadline or if an outstanding debt occurs in your account, the Member of the Exchange may liquidate/square-up a part of or the whole position. In this case, you will be liable for any losses incurred due to such square-up/ Close Outs.
    d. Under certain market conditions, an Investor may find it difficult or impossible to execute the transactions. For example, this situation can occur due to factors such as illiquidity i.e. when there are insufficient bids or offers or suspension of trading due to price limit or circuit breakers etc.
    e Steps, such as, changes in the margin rate, increase in the cash margin rate etc. may be adopted in order to maintain market stability. These new measures may be applied to the existing open interests. In such conditions, you will be required to put up
    additional margins or reduce your positions.
    f. You must ask your Member of the Exchange to provide the full details of the commodity derivatives contracts you plan to trade i.e. the contract specifications and the associated obligations.
    3. TRADING THROUGH WIRELESS TECHNOLOGY OR ANY OTHER TECHNOLOGY:
    Any additional provisions defining the features, risks, responsibilities, obligations and liabilities associated with commodities trading through wireless technology or any other technology should be brought to the notice of the client by the member.
    4. General
    i. Deposited cash and property:
    You should familiarize yourself with the protections accorded to the money or other property you deposit particularly in the event of a firm become insolvent or bankrupt. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property, which has been specifically identifiable as your own, will be prorated in the same manner as cash for purposes of distribution in the event of a shortfall. In case of any dispute with the Member of the Exchange, the same shall be subject to arbitration as per the Rules, Bye-laws and Business Rules of the Exchange.
    ii. Commission and other charges:
    Before you begin to trade, you should obtain a clear explanation of all commissions, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.
    iii. For rights and obligations of the Members/Authorised Persons/ clients, please refer to Annexure 3
    iv. The term ‘Constituent’ shall mean and include a Client, a Customer or an Investor, who deals with a member for the purpose of trading in the commodity derivatives through the mechanism provided by the Exchange.
    v. The term ‘member’ shall mean and include a Trading Member or a Member/Broker, who has been admitted as such by the Exchange and got a Unique Member Code from FMC.
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    RIGHTS AND OBLIGATIONS OF MEMBERS, AUTHORIZED PERSONS AND CLIENTS
    as prescribed by FMC and Commodity Exchanges
    1. The client shall invest/trade in those commodities /contracts/ other instruments admitted to dealings on the Exchanges as defined in the Rules, Byelaws and Business Rules/ Regulations of Exchanges/ Forward Markets Commission (FMC) and circulars/notices issued there under from time to time.
    2. The Member, Authorized Person and the client shall be bound by all the Rules, Byelaws and Business Rules of the Exchange and circulars/notices issued there under and Rules and Regulations of FMC and relevant notifications of Government authorities as may be in force from time to time.
    3. The client shall satisfy himself of the capacity of the Member to deal in commodities and/or deal in derivatives contracts and wishes to execute its orders through the Member and the client shall from time to time continue to satisfy itself of such capability of the Member before executing orders through the Member.
    4. The Member shall continuously satisfy itself about the genuineness and financial soundness of the client and investment objectives relevant to the services to be provided.
    5. The Member shall take steps to make the client aware of the precise nature of the Member’s liability for business to be conducted, including any limitations, the liability and the capacity in which the Member acts.
    6. The Authorized Person shall provide necessary assistance and co-operate with the Member in all its dealings with the client(s).
    CLIENT INFORMATION
    7. The client shall furnish all such details in full as are required by the Member in "Account Opening Form” with supporting details, made mandatory by commodity exchanges/FMC from time to time.
    8. The client shall familiarize himself with all the mandatory provisions in the Account Opening documents. Any additional clauses or documents specified by the Member shall be nonmandatory; therefore, subject to specific acceptance by the client.
    9. The client shall immediately notify the Member in writing if there is any change in the information in the ‘account opening form’ as
     
    provided at the time of account opening and thereafter; including the information on winding up petition/insolvency petition or any litigation which may have material bearing on his capacity. The client shall provide/update the financial information to the Member on a periodic basis.
    10. The Member and Authorized Person shall maintain all the details of the client as mentioned in the account opening form or any other information pertaining to the client, confidentially and that they shall not disclose the same to any person/ authority except as required under any law/regulatory requirements. Provided however that the Member may so disclose information about his client to any person or authority with the express permission of the client.
    MARGINS
    11. The client shall pay applicable initial margins, withholding margins, special margins or such other margins as are considered necessary by the Member or the Exchange or as may be directed by FMC from time to time as applicable to the segment(s) in which the client trades. The Member is permitted in its sole and absolute discretion to collect additional margins (even though not required by the Exchange or FMC) and the client shall be obliged to pay such margins within the stipulated time.
    12. The client understands that payment of margins by the client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the client may, on the settlement of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/require.
    TRANSACTIONS AND SETTLEMENTS
    13. The client shall give any order for buy or sell of commodities derivatives contract in writing or in such form or manner, as may be mutually agreed between the client and the Member however ensuring the regulatory requirements in this regard are complied with. The Member shall ensure to place orders and execute the trades of the client, only in the Unique Client Code assigned to that client.
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    14. The Member shall inform the client and keep him apprised about trading/settlement cycles, delivery/payment schedules, any changes therein from time to time, and it shall be the responsibility in turn of the client to comply with such schedules/procedures of the relevant commodity exchange where the trade is executed.
    15. The Member shall ensure that the money deposited by the client shall be kept in a separate account, distinct from his/its own account or account of any other client and shall not be used by the Member for himself/itself or for any other client or for any purpose other than the purposes mentioned in Rules, circulars, notices, guidelines of FMC and/or Rules, Business Rules, Bye-laws, circulars and notices of Exchange.
    16. Where the Exchange(s) cancels trade(s) suo moto all such trades including the trade/s done on behalf of the client shall ipso facto stand cancelled, Member shall be entitled to cancel the respective contract(s) with client(s).
    17. The transactions executed on the Exchange are subject to Rules, Byelaws and Business Rules and circulars/notices issued thereunder of the Exchanges where the trade is executed and all parties to such trade shall have submitted to the jurisdiction of such court as may be specified by the Byelaws and Business Rules of the Exchanges where the trade is executed for the purpose of giving effect to the provisions of the Rules, Byelaws and Business Rules of the Exchanges and the circulars/notices issued thereunder.
    BROKERAGE
    18. The Client shall pay to the Member brokerage and statutory levies as are prevailing from time to time and as they apply to the Client’s account, transactions and to the services that Member renders to the Client. The Member shall not charge brokerage more than the maximum brokerage permissible as per the Rules, Business Rules and Bye-laws of the relevant commodity exchanges and/or Rules of FMC.
    LIQUIDATION AND CLOSE OUT OF POSITION
    19. Without prejudice to the Member's other rights (including the right to refer a matter to arbitration), the client understands that the Member shall be entitled to liquidate/close out all or any of the client's positions for non-payment of margins or other amounts,
     
    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.
    20. In the event of death or insolvency of the client or his/its otherwise becoming incapable of receiving and paying for or delivering or transferring commodities which the client has ordered to be bought or sold, Member may close out the transaction of the client and claim losses, if any, against the estate of the client. The client or his nominees, successors, heirs and assignee shall be entitled to any surplus which may result there from. The client shall note that transfer of funds/ commodities in favor of a Nominee shall be valid discharge by the Member against the legal heir.
    DISPUTE RESOLUTION
    21. The Member shall co-operate in redressing grievances of the client in respect of all transactions routed through it.
    22. The client and the Member shall refer any claims and/or disputes with respect to deposits, margin money, etc., to arbitration as per the Rules, Byelaws and Business Rules of the Exchanges where the trade is executed and circulars/ notices issued thereunder as may be in force from time to time.
    23. The client/Member understands that the instructions issued by an authorized representative for dispute resolution, if any, of the client/Member shall be binding on the client/Member in accordance with the letter authorizing the said representative to deal on behalf of the said client/Member.
    TERMINATION OF RELATIONSHIP
    24. This relationship between the Member and the client shall be terminated; if the Member for any reason ceases to be a member of the commodity exchange including cessation of membership by reason of the Member's default, death, resignation or expulsion or if the certificate is cancelled by the Exchange.
    25. The Member, Authorized Person and the client shall be entitled to terminate the relationship between them without giving any reasons to the other party, after giving notice in writing of not less than one month to the other parties. Notwithstanding any such termination, all rights, liabilities and obligations of the parties
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    arising out of or in respect of transactions entered into prior to the termination of this relationship shall continue to subsist and vest in/be binding on the respective parties or his/ its respective heirs, executors, administrators, legal representatives or successors, as the case may be.
    26. In the event of demise/insolvency of the Authorized Person or the cancellation of his/its registration with the Board or/ withdrawal of recognition of the Authorized Person by the commodity exchange and/or termination of the agreement with the Authorized Person by the Member, for any reason whatsoever, the client shall be informed of such termination and the client shall be deemed to be the direct client of the Member and all clauses in the ‘Rights and Obligations’ document(s) governing the Member, Authorized Person and client shall continue to be in force as it is, unless the client intimates to the Member his/its intention to terminate their relationship by giving a notice in writing of not less than one month.
    ADDITIONAL RIGHTS AND OBLIGATIONS
    27 The Member and client shall reconcile and settle their accounts from time to time as per the Rules, Business Rules, Bye Laws, Circulars, Notices and Guidelines issued by FMC and the relevant Exchanges where the trade is executed.
    28. The Member shall issue a contract note to his clients for trades executed in such format as may be prescribed by the Exchange from time to time containing records of all transactions including details of order number, trade number, trade time, trade price, trade quantity, details of the derivatives contract, client code, brokerage, all charges levied etc. and with all other relevant details as required therein to be filled in and issued in such manner and within such time as prescribed by the Exchange. The Member shall send contract notes to the investors within 24 hours of the execution of the trades in hard copy and/or in electronic form using digital signature.
    29. The Member shall make pay out of funds or delivery of commodities as per the Exchange Rules, Bye-Laws, Business Rules and Circulars, as the case may be, to the Client on receipt of the payout from the relevant Exchange where the trade is executed unless otherwise specified by the client and subject to such terms and conditions as may be prescribed by the relevant Exchange from time to time where the trade is executed.
     
    30. The Member shall send a complete Statement of Accounts’ for both funds and commodities in respect of each of its clients in such periodicity and format within such time, as may be prescribed by the relevant Exchange, from time to time, where the trade is executed. The Statement shall also state that the client shall report errors, if any, in the Statement immediately but not later than 30 calendar days of receipt thereof, to the Member. A detailed statement of accounts must be sent every month to all the clients in physical form. The proof of delivery of the same should be preserved by the Member.
    31. The Member shall send margin statements to the clients on monthly basis. Margin statement should include, inter-alia, details of collateral deposited, collateral utilized and collateral status (available balance/due from client) with break up in terms of cash, Fixed Deposit Receipts (FDRs), Bank Guarantee, warehouse receipts, securities etc.
    32. The Client shall ensure that it has the required legal capacity to, and is authorized to, enter into the relationship with Member and is capable of performing his obligations and undertakings hereunder. All actions required to be taken to ensure compliance of all the transactions, which the Client may enter into shall be completed by the Client prior to such transaction being entered into.
    33. In case, where a member surrenders his/ her/ its membership, Member gives a public notice inviting claims, if any, from investors. In case of a claim relating to transactions executed on the trading system of the Exchange, ensure that client lodge a claim with the Exchange within the stipulated period and with the supporting documents.
    ELECTRONIC CONTRACT NOTES (ECN)
    34. In case, client opts to receive the contract note in electronic form, he shall provide an appropriate e-mail id (created by the client) to the Member (Kindly refer Appendix A of Annexure 1). Member shall ensure that all the rules/Business Rule/Bye- Laws/ circulars issued from time to time in this regard are complied with. The client shall communicate to the Member any change in the email-id through a physical letter. If the client has opted for internet trading, the request for change of email id may be made through the secured access by way of client specific user id and password.
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    35. The Member shall ensure that all ECNs sent through the e-mail shall be digitally signed, encrypted, non-tamperable and in compliance with the provisions of the IT Act, 2000. In case, ECN is sent through e-mail as an attachment, the attached file shall also be secured with the digital signature, encrypted and non-tamperable.
    36. The client shall note that non-receipt of bounced mail notification by the Member shall amount to delivery of the contract note at the e-mail ID of the client.
    37. The Member shall retain ECN and acknowledgement of the e-mail in a soft and non-tamperable form in the manner prescribed by the exchange in compliance with the provisions of the IT Act, 2000 and as per the extant rules/circulars/ guidelines issued by FMC/Commodity exchanges from time to time. The proof of delivery i.e., log report generated by the system at the time of sending the contract notes shall be maintained by the Member for the specified period under the extant rules/circulars/guidelines issued by FMC/Commodity exchanges. The log report shall provide the details of the contract notes that are not delivered to the client/e-mails rejected or bounced back. The Member shall take all possible steps to ensure receipt of notification of bounced mails by him at all times within the stipulated time periodunder the extant rules/circulars/guidelines issued by FMC/Commodity exchanges.
    38. The Member shall continue to send contract notes in the physical mode to such clients who do not opt to receive the contract notes in the electronic form. Wherever the ECNs have not been delivered to the client or has been rejected (bouncing of mails) by the e-mail ID of the client, the Member shall send a physical contract note to the client within the stipulated time under the extant Regulations/ Rules, Bye-Laws, Business Rules and Circulars of FMC/commodity exchanges and maintain the proof of dispatch and delivery of such physical contract notes.
    39. In addition to the e-mail communication of the ECNs to the client, the Member shall simultaneously publish the ECN on his designated web-site, if any, in a secured way and enable relevant access to the clients and for this purpose, shall allot a unique user name and password to the client, with an option to the client to save the contract note electronically and/or take a print out of the same.
    40. The Electronic Contract Note (ECN) declaration form obtained
     
    from the Client who opts to receive the contract note in electronic form must be obtained afresh before 1st April of every financial year by following the same procedure. Thus, such declaration would be valid for that financial year only.
    LAW AND JURISDICTION
    41. In addition to the specific rights set out in this document, the Member, Authorised Person and the client shall be entitled to exercise any other rights which the Member or the client may have under the Rules, Bye-laws and Business Rules of the Exchanges in which the client chooses to trade and circulars/ notices issued thereunder or Rules of FMC.
    42. The provisions of this document shall always be subject to Government notifications, any rules, guidelines and circulars/ notices issued by FMC and Circulars, Rules, Business Rules and Bye laws of the relevant commodity exchanges, where the trade is executed, that may be in force from time to time.
    43. The Member and the client shall abide by any award passed by the Arbitrator(s) under the Arbitration and Conciliation Act, 1996. However, there is also a provision of appeal, if either party is not satisfied with the arbitration award.
    44. Words and expressions which are used in this document but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the Rules, Byelaws and Regulations/Business Rules and circulars/notices issued thereunder of the Exchanges/ FMC.
    45. All additional voluntary/non mandatory clauses/document added by the Member should not be in contravention with Rules/ Business Rules/Notices/Circulars of Exchanges/FMC. Any changes in such voluntary clauses/document(s) need to be preceded by a notice of 15 days. Any changes in the rights and obligations which are specified by Exchanges/FMC shall also be brought to the notice of the clients.
    46. If the rights and obligations of the parties hereto are altered by virtue of change in Rules of FMC or Bye-laws, Rules and Business Rules of the relevant commodity exchanges where the trade is executed, such changes shall be deemed to have been incorporated herein in modification of the rights and obligations of the parties mentioned in this document.
    47. Members are required to send account statement to their clients every month in physical form.
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    INTERNET & WIRELESS TECHNOLOGY BASED TRADING FACILITY PROVIDED BY MEMBERS TO CLIENT
    (All the clauses mentioned in the ‘Rights and Obligations’ document(s) shall be applicable. Additionally, the clauses mentioned herein shall also be applicable.)
     
    1. Member is eligible for providing Internet based trading (IBT) and commodities trading through the use of wireless technology that shall include the use of devices such as mobile phone, laptop with data card, etc. which use Internet Protocol (IP). The Member shall comply with all requirements applicable to internet based trading/- commodities trading using wireless technology as may be specified by FMC & the Exchanges from time to time.
    2. The client is desirous of investing/trading in commodities and for this purpose, the client is desirous of using either the internet based trading facility or the facility for commodities trading through use of wireless technology. The Member shall provide the Member’s IBT Service to the Client, and the Client shall avail of the Member’s IBT Service, on and subject to FMC/Exchanges Provisions and the terms and conditions specified on the Member’s IBT Web Site provided that they are in line with the norms prescribed by Exchanges/ FMC.
    3. The Member shall bring to the notice of client the features, risks, responsibilities, obligations and liabilities associated with commodities trading through wireless technology/internet or any other technology should be brought to the notice of the client by the Member.
    4. The Member shall make the client aware that the Member’s IBT system itself generates the initial password and its password policy as stipulated in line with norms prescribed by Exchanges/FMC.
    5. The Client shall be responsible for keeping the Username and Password confidential and secure and shall be solely responsible for all orders entered and transactions done by any person whosoever through the Member’s IBT System using the Client’s Username and/or Password whether or not such person was authorized to do so. Also the client is aware that authentication technologies and strict security measures are required for the internet trading/ commodities trading through wireless technology through order routed system and undertakes to ensure that the password of the client and/or his authorized representative are not revealed to any third party including employees and dealers of the Member
    6. The Client shall immediately notify the Member in writing if he forgets his password, discovers security flaw in Member’s IBT System, discovers/suspects discrepancies/ unauthorized access through his username/password/account with full details of such unauthorized use, the date, the manner and the transactions effected pursuant to such unauthorized use, etc.
    7. The Client is fully aware of and understands the risks associated with availing of a service for routing orders over the internet/ commodities trading through wireless technology and Client shall be fully liable and responsible for any and all acts done in the Client’s Username/password in any manner whatsoever.
    8. The Member shall send the order/trade confirmation through email to the client at his request. The client is aware that the order/ trade confirmation is also provided on the web portal. In case client is trading using wireless technology, the Member shall send the order/trade confirmation on the device of the client.
    9. The client is aware that trading over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc. are susceptible to interruptions and dislocations. The Member and the Exchange do not make any representation or warranty that the Member’s IBT Service will be available to the Client at all times without any interruption.
    10. The Client shall not have any claim against the Exchange or the Member on account of any suspension, interruption, nonavailability or malfunctioning of the Member’s IBT System or Service or the Exchange’s service or systems or non-execution of his orders due to any link/system failure at the Client/Members/Exchange end for any reason beyond the control of the Member/ Exchanges.
    Client Signature
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    GUIDANCE NOTE - DO’s AND DON’Ts FOR THE CLIENTS
    Do’s
    1. Trade only through Registered Members of the Exchange. Check link from the relevant Exchange website at www.mcxindia.com, www.ncdex.com to see whether the Member is registered with the Exchange.
    2. Insist on filling up a standard 'Know Your Client (KYC)' form before you commence trading
    3. Insist on getting a Unique Client Code (UCC) and ensure all your trades are done under the said UCC.
    4. Insist on reading and signing a standard 'Risk Disclosure Agreement'.
    5. Obtain a copy of your KYC and/ or other documents executed by you with the Member, from the Member.
    6. Cross check the genuineness of trades carried out at the Exchange through the trade verification facility available link on the relevant Exchange website at www.mcxindia.com, www.ncdex.com. The trades can be verified online where trade information is available up to 5 working days from the trade date.
    7. Insist on a duly signed Contract Note in specified format for every executed trade within 24 hours of trade, highlighting the details of the trade along with your UCC.
    8. Ensure that the Contract Note contains all the relevant information such as Member Registration Number, Order No., Order Date, Order time, Trade No., Trade rate, Quantity, Arbitration Clause, etc.
    9. Obtain receipt for collaterals deposited with the Member towards margins. anyone.
    10. Go through the Rules, Bye-laws, Regulations, Circulars, Directives, Notifications of the Exchange as well as of the Regulators, Government and other authorities to know your rights and duties vis-à-vis those of the Member.
    11. Ask all relevant questions and clear your doubts with your Member before transacting.
    12. Insist on receiving the bills for every settlement.
    13. IInsist on Monthly statements of your ledger account and report any discrepancies in the statement to your Member within 7 working days. In case of unsatisfactory response report the discrepancy to the Exchange within 15 working days from the date of cause of action.
    14. Scrutinize minutely both the transaction & holding statements that you receive from your Depository Participant.
    15. Keep Delivery Instruction Slips (DIS) book issued by DPs in safe possession.
     
    16. Ensure that the DIS numbers are preprinted and your account number (UCC) is mentioned in the DIS book.
    17. Freeze your Demat account in case of your absence for longer duration or in case of not using the account frequently.
    18. Pay required margins in time and only by Cheque and ask for receipt thereof from the Member.
    19. Deliver the commodities in case of sale or pay the money in case of purchase within the time prescribed.
    20. Understand and comply with accounting standards for derivatives.
    21. Ensure to read, understand and then sign the voluntary clauses, if any, agreed between you and the Member. Note that the clauses as agreed between you and the Member cannot be changed without your consent.
    22. Get a clear idea about all brokerage, commissions, fees and other charges levied by the Member on you for trading and the relevant provisions/ guidelines specified by FMC/ Commodity exchanges.
    23. Make the payments by account payee cheque in favour of the Member. Ensure that you have a documentary proof of your payment/deposit of commodities with the Member, stating date, commodity, quantity, towards which bank/ demat account such money or commodities (in the form of warehouse receipts) deposited and from which bank/ demat account.
    24. The payout of funds or delivery of commodities (as the case may be) shall not be made to you within one working day from the receipt of payout from the Exchange, in case you have given specific authorization for maintaining running account to the member. Thus, in this regard, the running account authorization provided by you to the Member shall be subject to the following conditions:
    a) Such authorization from you shall be dated, signed by you only and contains the clause that you may revoke the same at any time.
    b) You need to bring any dispute arising from the statement of account to the notice of the Member in writing preferably within 7 (seven) working days from the date of receipt of funds/ commodities or statement, as the case may be. In case of dispute, refer the matter in writing to the Investors Grievance Cell of the relevant Commodity exchanges without delay.
    c) In case you have not opted for maintaining running account and pay-out is not received on the next working day of the receipt of payout from the exchanges, please refer the matter to the Member. In case there is dispute, ensure that you lodge a complaint in writing immediately with the Investors Grievance Cell of the relevant Commodity exchange.
    (17)
     
    d) Please register your mobile number and email id with the Member, to receive trade confirmation alerts/ details of the transactions through SMS or email, by the end of the trading day, from the commodity exchanges.
    25. You should familiarize yourself with the protection accorded to the money or other property you may deposit with your member, particularly in the event of a default in the commodity derivatives market or the member becomes insolvent or bankrupt.
    26. Please ensure that you have a documentary proof of having made the deposit of such money or property with the member, stating towards which account such money or property deposited.
    27. In case your problem/grievance/issue is not being sorted out by concerned Member/Authorised Person then you may take up the matter with the concerned Commodity Exchange. If you are not satisfied with the resolution of your complaint then you can escalate the matter to FMC.
    Don'ts
    1. Do not deal with any unregistered intermediaries.
    2. Do not undertake off-market transactions as such transactions are illegal and fall outside the jurisdiction of the Exchange.
    3. Do not enter into assured returns arrangement with any Member.
    4. Do not get carried away by luring advertisements, rumours, hot tips, explicit/ implicit promise of returns, etc.
    5. Do not make payments in cash/ take any cash towards margins and settlement to/ from the Member.
    6. Do not start trading before reading and understanding the Risk Disclosure Agreement.
    7. Do not neglect to set out in writing, orders for higher value given over phone.
    8. Do not accept unsigned/duplicate contract note/confirmation memo.
    9. Do not accept contract note/confirmation memo signed by any unauthorized person.
    10. Don’t share your internet trading account’s password with anyone
    11. Do not delay payment/deliveries of commodities to Member.
    12. Do not forget to take note of risks involved in the investments.
    13. Do not sign blank Delivery Instruction Slips (DIS) while furnishing commodities, deposits and/or keep them with Depository Participants (DP) or member to save time.
    14. Do not pay brokerage in excess of that rates prescribed by the Exchange
    15. Don’t issue cheques in the name of Authorized Person.
    Client Signature
     
    (18)
     
    UNDERTAKING FOR NOT EXCEEDING POSITION CLIENTS - MCX / NCDEX
     
    To,
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar,
    Phase-I, Delhi-110091
     
    SUB: MY/OUR REQUEST FOR TRADING IN COMMODITY FORWARD CONTRACTS/ COMMODITY DERIVATIVES ON MCX AS YOUR CLIENT
    I/ We,  an Individual/ Sole Proprietor/ Partnership Firm/ Company registered/ incorporated, under the
    provisions of the Indian Partnership Act, 1932/ The Companies Act, 1956 having his/her/ its Office/ Residence at
      with Client code  do hereby confirm that I/ We am/are
    /was/were doing trading with other member of MCX the details of my client code and member Id where I am / was trading are as under:-
     
    Client Code Member Id
     
    I/ We, also undertake that I/ We am/are /was/were not violating and undertake that we will not violate open interest limit of prescribed by FMC / Exchange from time to time and the limit calculated as per guidelines for calculation of net open position limit as per guidelines for calculation of net open position limit as per circular No. MCX/ 338/ 2006 dated August 21, 2006, MCX / 541/2006 dated December 7, 2006 and circular No. NCDEX/TRADING-114/ 2006/247 dated September 28, 2006 and modified thereafter from time to time.
     
    I/ We also confirm that my/our account (with client code   ) in your Company may be debited with the amount of penalty imposed by MCX for violating of norms of open position limits whenever any consequences arises.
     
    Client Signature
    Client Name:
     
    Client Code:
    Individual/Partner/Director/Karta/Trustee*
    * Strike off which is not applicable
     
    DECLARATION BY SALES PERSON / AUTHORISED PERSON (For the use of Elite only)
     
    FOR OFFICE USE ONLY
    To,
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar,
    Phase-I, Delhi-110091
     
    Dear Sir,
    This is in reference to the trading account under consideration in the name of 
    R/oI declare that
    I have met the above captioned person personally & have verified copy of about mentioned KYC with original, which is enclosed with account
    opening form & I also certify that client has signed and executed the form, stamp papers with enclosures in my presence.
    The following KYC documents are checked and verified from the original documents:
    1.
    2.
    3.
    4.
    5.
    Date of verification of documents :
     
    The above statement is true and correct and made under my own free mind without any coercion, misrepresentation or fraud.
    Name of the person:
     
    Signature:
     
    Employee / Authorised person
     
    (19)
     
    Docket - B
     
    RUNNING ACCOUNT AUTHORISATION
     
    To,Date :  
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar,
    Phase-I, Delhi-110091
    I/We are dealing through you as a client in Commodity Segment (MCX, NCDEX) in order to facilitate ease of operations and upfront requirement of margin for trade. I/We authorize you as under:
    1. I/We request you to maintain running balance in my account & retain the credit balance in any of my/our account and to use the unused funds towards my/our margin/fund pay-in/other future obligation(s) at any segment(s) of any or all the Exchange(s)/ Clearing corporation unless I/we instruct you otherwise.
    2. I/We request you to retain securities with you for my/our margin/other-future obligation(s) at any segment(s) of any or all the Exchange(s)/ Clearing Corporation unless I/We instruct you to transfer the same to my/our account.
    3. In case I/We have an outstanding obligation on the settlement date, you may retain the requisite securities/funds towards such obligations and may also retain the funds expected to be required to meet margin obligations for next 3 trading days, calculated in the manner specified by the exchanges.
    4. I/We confirm you that I will bring to your notice any dispute arising from the statement of account or settlement so made in writing within 7 working days from the date of receipt of funds or statement of account or statement related to it, as the case may be at your registered office.
    The running account authorization provided by me shall continue and remain valid until it is revoked by me anytime in writing.
    Thanking you
    Yours faithfully,
    Client Name:
    Client Code: 
    (20)
     
     
    LETTER OF AUTHORITY
     
    To, Date :  
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar, Phase-I, Delhi-110091
    Sub : Letter of Authority - MCX, NCDEX
    I/We/am/are dealing in commodities with you at MCX, NCDEXin order to facilitate ease of operations. We authorize you as under :
    1. Set off of outstanding:
    I/We authorize you to set off outstanding in any of my/our accounts against credits available or arising in any other accounts maintained with you irrespective of the fact that such credits in the accounts may pertain to transactions in any segment of the Exchange and / or against the value of cash margin or collateral shares provided to you by me / us.
    2. Delivery of order/ trade confirmation/ cancellation:
    I/We hereby authorize you not to provide me / us order confirmation / Modification / Cancellation Slips and Trade Confirmation slips to avoid unnecessary paper work. I/we shall get the required details from contract notes and confirmation issued by you.
    3. Authorization to Use Margin:
    I hereby authorize you to keep all the securities which we give you in margin, to use the securities for meeting margin / other obligation in stock exchange in whatever manner which may include pledging of shares in favour of bank and/or taking loan against the same for meeting margin/pay-in obligation on our behalf or for giving the same as margin to the Stock Exchange or otherwise. I further authorize the stock broker as per the requirement of FMC/Vide/Letter No.1/2/2012/IR-I/CLIENT-PROTECT/(FMC/4/2012/C/ 14) Dated February 02, 2012 that in case of any outstanding obligations on the settlement date, the stock broker may retain the requisite securities/funds towards such obligations and may also retain the funds expected to be required to meet margin obligations for next 3 trading days, calculated in the manner specified by the exchanges.
    4. Telephonic Conversation:
    I/We request you to consider my/our telephonic instructions for order placing/order modification/order cancellation as a written instruction and give us all the confirmation on telephone unless instructed otherwise in writing. I/We am/are getting required details from contracts issued by you.
    5. Electronic Mode of delivery:
    I/We request that you may send/ Dispatch me contract notes other documents through E-mail, on my designated E-mail address of.   I/We stress that I/we will not hold you responsible under any circumstances in the event of an E-mail which you send gets bounced due to any reason such as mail box being full, inactive account or due to any technical reason beyond your control.
    6. Log Report:
    I/We will completely rely on the log reports of your dispatching software as a conclusive proof of dispatch of E-mail to me and will not dispute the same.
    7. Change in E-mail Id:
    I/We will inform you any change in my E-mail, if any, in future, in physical mode by regd. post or by hand delivery and through a digitally signed E-mail.
    8. Hold of funds Pay outs:
    I/We am/are agreeable for & authorise you to with hold funds pay-out towards all the applicable margins and debits.
    9. Fines & Penalties:
    All fines/penalties and changes levied upon you due to my acts / deeds or transactions may be recovered by you from my account.
    * Strike off the clauses not relevant to you.
    Thanking you,
    Yours faithfully,
    Client Signature
    (21)
     
     
    SUPPLEMENTARY AGREEMENT - MCX / NCDEX VOLUNTARY
    This agreement is a part and partial of the main agreement between : Constituent and M/s. Elite Comtrade Private Limited, a company incorporated under the Companies Act, 1956, being a member of the Multi Commodity Exchange of India Ltd. / National Commodity and Derivatives Exchange (hereinafter called “the Exchange”), and having its registered office at S-8, DDA Shopping Complex, Mayur Vihar, Phase-I, Delhi-110091 hereinafter referred to as the “Member”, (which expression shall, unless repugnant to the context thereof, be deemed to mean and include its successors and assigns) of the One Part;
    And
     , an individual
    / a sole proprietary concern / a partnership firm / a HUF / a company
    having its office / residence at  
    (hereinafter
    referred to as the “Constituent”, which expression shall, unless repugnant to the meaning or context thereof, be deemed to mean and include its successors and permitted assigns) of the Second Part; the following clauses are added :
    1. The Professional Clearing Member (PCM), if opted by the Constituent to settle his trades, shall confirm all trades executed as PCM trades on the day the order is executed. In the event of non-confirmation and/or rejection of the trade by such PCM, the Constituent shall be liable to pay forth with the applicable margin as enunciated by the Member on the same day.
    2. Collateral: The Constituent may be required to pay to the Member such amount as an initial deposit (collateral/initial deposit) as decided by the Member, and in such form as may be approved by the Member up-front, on or before creating a position in any contract. The Member may reserve the mark up margin (commonly referred to as ‘haircut margin’) from the collateral, which may not be utilized for margin requirements. The collateral reduced by markup / haircut margin may thereafter be utilized against creating and maintaining the position by the Constituent. The mark up margin shall be subject to the change from time to time as may be decided by the Member and/ or the exchange.
    3. Utilization by Member of the Initial Deposit by the Constituent: The initial deposit so paid may be first utilized towards initial margin requirement as calculated by the Exchange from time to time and the balance if any, after such adjustment against initial margin payments, will be available for adjustment against daily margin requirement, Mark to Market (MTM) loss on open positions created by the Constituent. The Constituent shall forward in advance a written request to the Member for adjustment MTM loss against the cash portion of the collateral.
    4. Payment of Margins: The daily margin requirement can be adjusted against the collateral maintained by the Constituent with the
    Member. The Member may accept from the Constituent further order, which, if executed, will add to the open positions, only if the balance collateral is adequate to meet the initial margin on such new positions. If the balance collateral is not adequate for adjusting the daily margin requirement, the Constituent shall deposit the additional margins. The Constituent shall also be obliged to pay the shortfall of the daily margin, if any, immediately. The Constituent may not be permitted to create any new open positions, until receipt of such additional margin.
    5. If the Constituent defaults in paying the daily margin, the Member shall be entitled to liquidate/ close out all or any of the Constituent’s positions, without prejudice to the Member’s any other rights under law or Exchange Bye Laws, Rules and Regulations, Any and all losses and financial charges on account of such liquidation / closing out shall be charged to and borne by the Constituent. The Member is permitted in its sole and absolute discretion to impose additional margin (even though not imposed by the Exchanges, the Clearing Corporation / Clearing House) and the Constituent shall be obliged to fulfill such additional margin requirements.
    6. Receipts and Payment of Premium MTM: The Member may block up-front from the collateral maintained with it the MTM loss on open positions, The Member may accept from the Constituent further order, which, if executed, will add to the open positions, only if the balance collateral is sufficient to meet the requisite margin on such new positions. The Constituent shall be obliged to pay the amount of MTM loss blocked against the collateral immediately. The Member may adjust the Constituent’s liability towards MTM loss against the initial deposit maintained in cash by the Constituent, provided a written request is given by the Constituent to the Member to this effect. If the Constituent defaults in paying in the MTM loss, the Member shall be entitled to liquidate! close out all or any of the Constituent’s positions, without prejudice to the Member’s right to refer the matter to arbitration. Any and all losses and financial charges on account of such liquidation / closing out shall be charged to and borne by the Constituent.
    On a written request from the Constituent, MTM profit (on derivative positions) may be adjusted towards the collateral maintained with the Member. These adjustments pertaining to MTM profit may be treated as additional collateral brought in by the Constituent and the Member may reserve the mark up margin from this collateral, which may not be utilized for margin requirements. The total collateral (inclusive of mark to market inflows) reduced by markup may thereafter be utilized against creating and maintaining the position by the Constituent.
    Client Signature
    (22)
     
     
    7. If the complete recovery is not possible then, the Member shall be entitled to liquidate / close out all or any of the Constituent’s other outstanding positions, without prejudice to the Member’s right to recover the damage from the Constituent. Any and all losses and financial charges on account of such liquidation/ closing out shall be charged to and borne by the Constituent.
    8. The Constituent acknowledges that all contracts culminating in delivery (which are not squared off and information for giving and taking delivery is given by the Constituents) would be transactions for purchase and sales between the Constituents inter-se and the Constituents would be personally liable to each other though the contract and relationships are governed and regulated by the Bye Laws, Rules and Regulations of the Exchange.
    9. The Exchange may cancel a trade suo-moto without giving any reason thereof. In the event of such cancellation, Member shall be entitled to cancel relative contract(s) with Constituent
    10. All trades, transactions and contracts are subject to the Rules and Regulations of the Exchange.
    11. Trade Obligations: The Constituent shall accept all trades executed, resulting from the orders placed with the Member, irrespective of the fact that the order is executed partially or in full, on the Exchange.
    In the event of non-confirmation of custodial trades by PCM for any reason whatsoever, all exchange-levied margins, MTM losses (on open position), will be borne by the Member for the unconfirmed trades. In such case, the Constituent shall pay to the Member, all margins levied by the Exchange on the unconfirmed trades. In addition to the above, the Member shall have an option to call for collateral from the Constituent, to meet the subsequent daily margin obligation / MTM losses on the unconfirmed trades. The Constituent shall be obliged to pay the daily margin, MTM on the immediate succeeding business day, of the day when the Member raises such margin requirement. The Member shall not permit the Constituent to create any new open positions, until receipt of such additional margin requirement.
    If the Constituent defaults in paying the daily margin, MTM, if any, the Member shall be entitled to liquidate / close out all or any of the Constituent’s positions, without prejudice to the Member’s right to refer the matter to arbitration. Any and all losses and financial charges on account of such liquidation/ closing out shall be charged to and borne by the Constituent.
    12. Deliveries: The Constituent will be responsible for providing information for the purposes of giving / taking delivery against Constituent’s Net Open Position along-with information necessary for giving / taking delivery within stipulated period as specified by the Exchange from time to time. Member shall submit the same to the Exchange.
    Constituent shall co-ordinate with the Member to ensure that all requirements for giving / taking delivery are fulfilled. Constituent shall also ensure to comply with all statutory requirements laid
     
    down regarding Sale / Purchase of goods including payment of taxes, local levies and other statutory / regulatory charges as prescribed under applicable laws from time to time.
    Constituent shall submit documents such as Invoices, Sales Tax exemption or concession forms or any other documents as required under the prevalent laws and forward the same to the Counter-party Constituent or any other Member of the Exchange within stipulated period as specified by the Exchange from time to time.
    13. Constituent shall be liable to pay sales tax under the local State sales tax law or the Central Sales Tax Act, 1956, or any other acts as may be applicable from time to time as the case may be and will be solely responsible for complying with all the provisions and regulation of the applicable sales tax law.
    14. The Constituent agrees to abide by the exposure limits, if any, set by the Member or by the exchange or clearing corporation or FMC from time to time.
    15. The Constituent agrees to immediately furnish information to the Member in writing, if any winding up petition or insolvency petition has been filed or any winding up or insolvency order or decree or award is passed against him or if any litigation which may have material bearing on his capacity has been filed against him.
    16. Information about default in payment/delivery and related aspects by a Constituent may be brought to the notice of the relevant commodity exchange(s) and/or legal / regulatory authorities. In case where defaulting Constituent is a corporate entity/partnership/proprietary firm or any other artificial legal entity, then the name(s) of director(s)/ promoter(s)/ partner(s)/ proprietor as the case may be, shall also be communicated to the relevant commodity exchange(s).
    17. The instructions issued by an authorized representative, if any, of the Constituent shall be binding on the Constituent.
    18. Words and expressions which are used in this agreement, but which are not defined herein shall, unless the context otherwise requires, have the same meaning as assigned thereto in the rules, byelaws and regulations of the exchange and circulars issued there under.
    19. This agreement can be altered, amended and/or modified by the parties mutually in writing. Provided however, if the rights and obligations of the parties hereto are altered by virtue of change in rules and regulations of FMC or bye-laws, rules and regulations of the relevant commodity exchange, government notifications, circulars issued by FMC that may be in force from time to time such changes shall be deemed to have been incorporated herein in modification of the rights
    Client Signature
    (23)
     
     
    and obligations of the parties mentioned in this agreement.
    20. The Constituent is aware that authentication technologies and strict security measures are required for internet trading through order routed system and undertakes to ensure that the password of the constituent and/or his authorized representative are not revealed to any third party.
    21. The Constituent agrees that the Member shall not be liable or responsible for non-execution of the orders of the constituent due to any link system failure at the constituent/ Member/ exchange end.
    22. The Member shall also send the order/trade confirmation slip, contract notes, bills, account statements etc. through e-mail to the Constituent at his request, within time period as specified by the Constituent from the time of execution of orders/trade, as the case may be. The Constituent agrees that the information sent by Member bye-mail is deemed to be a valid delivery of such information by the Member.
    23. The Constituent is aware that the Member may not permit orders, which are larger than the limit that is specified by the Member’s risk management, and is also aware that the Member has the discretion to reject the execution of such orders based on his risk perception.
    24. a) The Constituent assures the Member that he / she / it is eligible to enter into this agreement under the applicable laws. The Constituent shall continuously monitor his / her / its eligibility to act under this agreement under the applicable laws including but not limited to FMC Act and Rules and Regulations framed thereunder such as insider trading etc., FEMA and rules and regulations thereunder, Income Tax Act and any other act / law / rules and regulations for the time being in force and byelaws / Rules/ Regulations of relevant exchange(s).
    b) The Constituent shall ensure that Constituent shall not deal through the Member on the exchange of which Constituent is registered as a broker.
    c) The Constituent shall ensure that Constituent shall not act as a sub broker / intermediary without the prior written permission of the Member.
    d) In connection with this agreement, as well as all transactions contemplated by this agreement as offered by the Member from time to time, the Constituent agrees to execute and deliver / provide such additional documents/ information and to perform such additional actions which may be necessary, appropriate or requested to carry out or evidence the transactions in respect of the services availed by the Constituent from time to time.
    e) The Constituent hereby declares that all information which have been provided, are being provided and which shall be provided by the Constituent to the Member or any service provider is and shall always be true to the best of information
     
    and knowledge of the Constituent and if any losses or damages occur to the Member or any service provider because of the information provided by the Constituent being inaccurate, insufficient, fraudulent etc. , the Constituent shall be solely responsible for any and all consequences including damages which may be suffered by the Member / service provider either directly or indirectly against which the Constituent hereby agrees to indemnify the Member / service provider and agrees to hold the Member and any and all service providers absolutely harmless and to pay on demand any sums which may be demanded by the Member or any service provider on account of such damages or losses as may be suffered or are likely to be suffered by them.
    f) The Constituent hereby agrees to use the facilities, data and information which is provided by the Member or which may become available to the Constituent as a result of Constituent’s relationship with the Member purely for permitted purposes and only for personal use and agrees never to disseminate any information or data for any reason or purposes whatsoever except under a written authority signed by the person specifically authorized for this purpose by the Member, the responsibility to ascertain which shall be of the Constituent alone.
    25. a) The Constituent agrees to use, such facilities / arrangement with banks /depository participants for making or receiving payment of funds / monies and/or securities, as may be prescribe by the Member in its absolutely discretion including but not limited to online or offline facilities of one or more banks or depositories and Constituent hereby agrees not to hold the Member responsible for any losses or damage which may be suffered by the Constituent by use of any such prescribed facilities.
    b) The Constituent agrees that the Member or any service provider such as banks etc., may from time to time prescribe particular softwares (including but not limited to browsers, operating systems, TCP/IP protocols etc.) / devices / equipments etc. and the Constituent agrees that such softwares / devices /equipments may need to be changed / upgraded to newer versions and this may require the Constituent to suitably reinstall / uninstall / upgrade the said facilities/ device / equipments etc. at its end. Such changes may involve disruption in trading / communication of orders and may even lead to losses and the Constituent hereby unconditionally and absolutely agrees not to hold the Member or service providers or depositaries responsible on any account. All costs / charges / levies and fees incurred by the Constituent for the said services shall be borne
    Client Signature
    (24)
     
     
    exclusively by the Constituent alone.
    c) The Constituent hereby agrees and declares that he / she lit has fully assessed and accepted the risks involved in using the service facilities including but not limited to internet based services such as but not limited to misuse of passwords, internet frauds, technology risks etc., and is entering into this agreement with full indemnification of the Member and any service providers on account of any damages, losses or negative consequences which Constituent may suffer in any manner whatsoever.
    26. a) The Constituent agrees and acknowledges that it is recommended by the Member to give orders/instructions in writing and to take acknowledgement of the same in writing from the Member simultaneously, to avoid any disputes or differences and if the Constituent chooses to give orders in a mode other than in writing or if the Constituent does not take acknowledgement of orders given in writing, the Constituent shall be deemed to have disclaimed and waived any right to dispute regarding as to whether or not the orders were correctly received and/ or entered into the trading system, including the plea that the orders were, entered without express directions / authorisation of the Constituent. It is agreed and understood by the Constituent that if the Constituent is unable to produce the acceptance of order by the Member in writing, it shall be deemed that such order was in fact given verbally as entered into the trading system and the waiver as stated herein above shall apply.
    b) The Constituent agrees and acknowledges that trading over telecom networks involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc. which are susceptible to interruptions, malfunctioning and dislocations etc. The Member does not make any representation or warranty about uninterrupted trading facility and as such, under no circumstances shall the Member or anyone involved in creating, producing, delivering or managing the Member’s services be liable for any direct, incidental, special or consequential damages that may result from the use of or inability to use the service, delay in transmission of any communication, in any case for any reason whatsoever (including on account of breakdown in systems) or due to any fraud committed by any person whether in the employment of the Member or otherwise.
    c) The Constituent agrees that any communication of orders in any form or manner whatsoever to the Member or by entering orders into a facility provided by the Member such as internet etc. neither implies orders’ acceptance nor assures a trade from such orders and the Constituent is also aware that any trade which may take place does not necessarily assure any delivery (ies) of commodities/ monies on account of such
    trades and the Constituent hereby agrees not to hold Member responsible in any manner whatsoever, in any circumstances.
    d) The Constituent agrees that it shall be sole responsibility of the Constituent to ascertain the status / results / trade of any orders given by Constituent. The Constituent also understands and agrees that the word “orders” means the cancellation and modification orders as well.
    27. The Constituent agrees to the Member tape-recording the conversations between Constituent / Constituent’s representative and the Member in its absolute discretion, either personally or over the telephone. Such recordings may be relied upon by the Member as and when required, and the Constituent agrees not to challenge the evidentiary value of such recordings.
    28. The Constituent agrees that it shall be sufficient for the Member to communicate / advise from time to time the parameters for the calculation of the margin / security requirements as rate(s) / percentages(s) of the dealings, through anyone or more means or methods as described / prescribed and once parameters for margin / security requirements are so communicated, the Constituent shall monitor his / her / its position (dealings / trades and valuation of contracts/ commodity) on his/ her / its own and provide the required / deficit margin/ security forthwith as required from time to time whether or not any margin call or such other separate communication to that effect is sent by the member to the Constituent and/or whether or not such communication is received by the Constituent.
    29. a) The Constituent understands that Member advises and recommends that Constituent should take buy / sell positions in contracts with prior payment to Member of the full settlement / expiration price of the contract. However, Constituent may choose, with attendant risks, to enter into contracts with payment of various margins and upfront amounts payable. Such contracts would be leveraged contracts with payment in form of various levies and margins including but not limited to one or more of the following margins as may be required by the member such as mark to market margin (mark to market loss), SPAN Margin, Initial Margin, Volatility Margin, Exposure Margin, Additional Margin, Special Margin, withholding margins, Ad-hoc Margin, Extreme Loss Margin [collectively also referred herein as Margins] or any other demands for payment whether imposed by the Member or the exchange or FMC etc. The Constituent is liable to pay all margins as are required by the Member and/or the exchange and/or FMC, from time to time, and as applicable to the segment in which the Constituent trades. The Member is permitted in its sole and absolute
    Client Signature
    (25)
     
     
    discretion to collect additional margins (even though not required by the exchange, clearing house/clearing corporation or FMC) and the Constituent shall be obliged to pay such margins within the stipulated time.
    b) The Constituent agrees that Constituent shall not trade without adequate margin / security and that it will be Constituent’s responsibility to ascertain beforehand the margin / security requirements for Constituent’s orders / trades / deals and to ensure that the required margin / security is made available to the Member in such form and manner as may be required from time to time by the Member. If the Constituent’s order is executed despite a shortfall in the available margin, the Constituent, shall, whether or not the Member intimates such shortfall in the margin to the Constituent, make up the shortfall suo moto immediately.
    30. Constituent further understands that extremely high risks are involved in the contracts as are dealt on / through the commodities exchanges and such risks include but are not limited to the risk of inability to square off / close out of open positions / contracts at all or at desirable prices due to rapid downward and upward movement of prices with or without imposition of circuit filters ( prices limits) by the exchange(s) and in such eventualities, the square off /close out if made or the final settlement as per the norms and procedures of exchange may cause losses to the Constituent, which may imply a risk of default by Constituent to member.
    31. In view of the foregoing Constituent agrees that member may mark to market Constituent’s open positions / contracts on real time basis and if the available clear balances in the account of the Constituent are not sufficient to meet the real time sum total of amount(s) required towards margins and any other demands by Member and/or exchanges (including real time mark to market margin) even though not posted in the running account [as the posting is not done on real time basis], then the member may square off / close out any or all open positions/ contracts of the Constituent without any reference to the Constituent and the Constituent agrees neither to challenge the choice by member of the contracts which are squared-off / closed out nor the rates and/or the time at which the square - off / close out is done. it is expressly, understood and agreed by the Constituent that any losses or profits on account of any close outs effected by Member or any losses or profits on account of failure by Member to effect close outs shall be entirely to the account of the Constituent alone and the Constituent notwithstanding anything to the contrary any where else does hereby agrees never to disputes or call into question any acts of the Member.
    32. The Constituent understands that giving / taking delivery of underlying commodity(ies) to a contract is a very complex procedure and hereby agrees to square off / close out all open positions/ contracts 5 (five) days prior to the date of expiry / settlement as declared by the Exchange, failing which, Member
    shall be entitled to do so and all losses or profits as a consequence thereof shall be to Constituent’s account only.
    However, where the Constituent advises through written communication with confirmed receipt by the Member at least 5 days prior to the last day of the expiry of the particular(s) contract THAT CONSTITUENT WANTS TO GIVE TAKE DELIVERY, The member may then elect not to square - off / close out open positions / contracts prior to date of expiry/ settlement declared by the exchange PROVIDED CONSTITUENT MAKES AVAILABLE SUFFICIENT CLEAR FUNDS ADEQUATE FOR THE FULL SETTLEMENT PRICE! VALUE OF THE CONTRACT IN THE RUNNING ACCOUNT OF THE CONSTITUENT WITH THE MEMBER (5) FIVE DAYS PRIOR TO THE DATE OF SETTLEMENT/ EXPIRY DECLARED BY THE EXCHANGE.
    33. Constituent agrees that notwithstanding any thing stated herein, the responsibility to manage Constituent’s open positions/ contracts shall be of the Constituent alone. Constituent agrees and understand that member may not square off / close any or all open positions/ contracts of the Constituent, even though the Constituent has not given written advise that Constituent desires a delivery to be given / taken and/or Constituent’s advise is not supported by required clear funds and/or the margin or other payments required for any open positions/ contracts are not made available by the Constituent. Or that orders may have been executed without the required margin in the Constituent’s account. In such circumstances Constituent agrees to give and/or take the delivery as per contract specifications with attendant costs and expenses or in the alternative pay penalty if permitted under the exchange procedures (including but not limited to byelaws and regulations of the Exchange etc.) and any losses / profits therefrom shall be entirely to Constituent’s account only.
    34. Payment of margins by the Constituent does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margins, the Constituent may, on the closing of its trade, be obliged to pay (or entitled to receive) such further sums as the contract may dictate/require.
    35. The Constituent agrees that the exchange / Member / FMC may vary the form (I.e., the replacement of the margin / security in one form with the margin / security in any other form, say, in the form of money instead of shares) and/or quantum and/or percentage of the margin and/or security required to be deposited/ made available, from time to time.
    36. The Constituent agrees that the Member prescribes the date and time by which the margin / security is to be made available and the Member may refuse to accept and/or take into consideration for monitoring of Constituent’s positions any payments in any form after such deadline for margin/ security / commodity expires.
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    37. The Constituent agrees that the margin / security / commodity deposited by the Constituent with the Member are not eligible for any interest.
    38. The Constituent authorises the Member to include / appropriate any / all payout of funds towards margin / commodity towards margin / security without requiring specific authorizations for each payout.
    39. In case the payment of the margin / security is made by the Constituent through a bank instrument, the Member shall be at liberty to give the benefit/ credit for the same only on the realization of the funds from the said bank instrument etc. at the absolute discretion of the Member.
    40. Where the margin /security is made available by way of commodities or any other property, the Member is empowered to decline its acceptance as margin/ security and/or to accept it at such reduced value as the Member may deem fit by applying haircuts or by valuing it by marking it to market or by any other method as the Member may deem fit in its absolute discretion.
    41. The Member may from time to time impose and vary limits on the orders that the Constituent can place through the Member’s trading system (including exposure limits, turnover limits, limits as to the number, value and/or kind of commodities in respect of which orders can be placed, the contracts in respect of which orders can be placed, etc.). The Constituent is aware and agrees that the Member may need to vary or reduce the limits or impose new limits urgently on the basis of the Member’s risk perception and other factors considered relevant by the Member, and the Member may be unable to inform the Constituent of such variation, reduction or imposition in advance. The Constituent agrees that the Member shall not be responsible for such variation, reduction or imposition or the Constituent’s inability to route any order through the Member’s trading system on account of any such variation, reduction or imposition of limits. The Constituent further agrees that the Member may at any time, at its sole discretion and without prior notice, prohibit or restrict the Constituent’s ability to place orders or trade in commodities through the Member, or it may subject any order placed by the Constituent to a review before, its entry into the trading systems and may refuse to execute / allow execution of orders due to but not limited to the reason of lack of margin / securities or the order being for commodities / contracts which are not in the permitted list of the Member / exchange(s) / F MC or the order being outside the limits set by Member / exchange! FMC and any other reasons which the Member may deem appropriate in the circumstances. The Constituent agrees that the losses, if any on account of such refusal or due to delay caused by such review, shall be borne exclusively by the Constituent alone.
    42. a) The Constituent agrees that it is the sole responsibility of the
    Constituent to ensure timely availability of funds / commodities in designated form and manner at designated time and place in designated account, for meeting his / her / its pay in obligation. The Member shall not be responsible for any claim / loss / damage arising out of non availability / shortage of funds / commodities in the Constituent’s account for meeting the pay in obligation of either funds, or commodities. If the Constituent gives orders / trades in the anticipation of the required funds / commodities etc. being available subsequently for pay in through anticipated payout from the exchange or through borrowings or any off market delivery(s) or market delivery(s) and if such anticipated availability does not materialize in actual availability of commodities/funds for pay in for any reason whatsoever including but not limited to any delays / shortages at the exchange or Member level/ non release of margin by the Member etc., the losses which may occur to the Constituent as a consequence of such shortages in any manner such as on account of auctions/ square off / closing outs etc., shall be solely to the account of the Constituent and the Constituent agrees not to hold the Member responsible for the same in any form or manner whatsoever.
    b) The Constituent agrees that the Member shall not be obliged to deliver any commodity or pay any money to the Constituent unless and until the same has been received by the Member from the exchange, the clearing corporation / clearing house or other company or entity liable to make the payment and after the Constituent has fulfilled his/ her / its obligations first. Any short delivery of Commodity shall be dealt with as per the policy of the Member as amended from time to time.
    43. Constituent agrees that Constituent may be required to have its duly authorised agent to carry the work for effecting / taking the deliveries, if they do arise. Constituent agrees that if Constituent fails to advise the Member at least 5 (five) days in advance of any delivery receipt/transfer out, in writing the details of the agent who shall undertake the relevant activities for and on behalf of the Constituent, the member shall stand authorised to appoint an agent on Constituent’s behalf. Constituent agrees not to hold member responsible for any acts of Omission / Commission or Deficiencies of the services of the person who is appointed as agent for the Constituent by the member. Constituent agrees that agent appointed by member shall be Constituent’s direct agent and not a subagent and Constituent shall be directly responsible for all acts of omission and commission of the agent appointed for and on behalf of the Constituent by the member. Constituent agrees never to call into question any of the acts of agent
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    appointed by member and agrees to bear any and all losses which may occur on account of action taken / omitted by said agent. Constituent agrees that all charges, cost, levies and taxes etc. associated with or incidental to the deliveries including cost/feel charges of agent appointed for and on behalf of the Constituent by the member shall be fully borne by Constituent alone.
    44. The Constituent hereby authorizes the Member in its absolute discretion to maintain records / books of accounts for the Constituent separately or collectively for different exchanges / segments of the exchanges and/or any other service which the Constituent may be availing such as Portfolio Management/ Advisory Services, Depository Services etc.
    45. It shall be the sole responsibility of the Constituent to ascertain the balance of commodities and/or funds in all the accounts separately and the Constituent shall be required to pay / make available necessary commodities / monies and/or funds into anyone or more such segregated / aggregated account(s) notwithstanding the fact that an aggregation of the accounts may not require from the Constituent either any commodities / and/or monies / funds and the Constituent hereby agrees not to hold the Member responsible for considering shortage of margin / commodity and/or shortage of pay in obligations in any account, without aggregating/ summing such account with other accounts.
    46. In order to facilitate operations, the Constituent authorises the Member to maintain running accounts with the Member; to debit the Constituent’s running account for the margin / funds payable by the Constituent; to include any / all the payout of funds and / commodity towards margin / security and/or towards pay in obligations and/or towards funds payable by the Constituent, without any specific authorization on payout to payout basis and to release the funds and/or commodities (if any) due to the Constituent on Constituent’s specific request only. The Constituent agrees that the Member shall not be liable for any claim for loss or profit, or for any consequential, incidental, special or exemplary damages, caused by retention of such commodities/ funds under this agreement or otherwise.
    47. The Constituent hereby agrees and accepts that notwithstanding anything to the contrary in this agreement or elsewhere, if the Constituent fails to maintain or provide the required margin / security to meet the funds or commodities pay in obligations for the orders/trades/ deals of the Constituent within the prescribed time and form, the Member shall have the right without any further notice or communication to the Constituent to take anyone or more of the following steps:
    (i) To withhold any payout of funds/ commodities.
    (ii) To withhold / disable the trading/ dealing facility to the Constituent.
    (iii) To liquidate one or more commodities/ contracts of the
    Constituent by selling the same in such manner and at such rate which the Member may deem fit in its absolute discretion. It is agreed and understood by the Constituent that commodities here includes commodities which are pending delivery / receipt.
    (iv) To liquidate / square off partially or fully the position of sale and/or purchase in any one or more commodities contracts in such manner and at such rate which the Member may decide in its absolute discretion.
    (v) To take any other steps which in the given circumstances, the Member may deem fit..
    The Constituent agrees that the loss(s) or profit(s) if any, on account of anyone or more steps as enumerated herein above being taken by the Member, shall be borne exclusively by the Constituent alone and agrees not to question the reasonableness, requirements, timing, manner, form, pricing etc., which are chosen by the Member.
    48. Notwithstanding anything contrary contained in this agreement, the Constituent hereby agrees and authorises the Member to transfer funds and commodities from his account for one exchange and/or one segment of the exchange to his/ her / its account for another exchange and/ or another segment of the same exchange whenever applicable and found necessary by the Member. The Constituent also agrees and authorises the Member to treat/ adjust his/ her / its margin / security lying in one exchange and/or one segment of the exchange / towards the margin / security / pay in requirements of another exchange and/or another segment of the exchange.
    49. The Constituent agrees that notwithstanding anything contained in these presents, any amounts which are overdue from the Constituent towards trading or on account of any other reason to the Member will be charged with delayed payment charges at such rates as may be determined by the Member.
    50. The Constituent agrees that the Member may impose fines / penalties for any orders / trades / deals/ actions of the Constituent which are contrary to this agreement/ rules/ regulations/ bye laws of the exchange or any other law for the time being in force, at such rates and in such form as it may deem fit. Further where the Member has to pay any fine or bear any punishment from any authority in connection with / as a consequence of / in relation to any of the orders / trades / deals / actions of the Constituent, the same shall be borne by the Constituent.
    51. The Constituent agrees to pay to the Member brokerage, commission, fees, all taxes, duties, levies imposed by any authority having force of law including but not limited to the commodity exchanges (including any amount due on account
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    of reassessment/ backlogs etc.), transaction expenses, incidental expenses such as postage, courier etc. as they apply from time to time to the Constituent’s account / transactions / services that the Constituent avails from the Member.
    52. The Constituent agrees that all monies, commodities or other property which the Member may hold on Constituent’s account shall be held subject to a general lien for the discharge of Constituent’s obligations to the Member.
    53. a) The Constituent hereby agrees that the Member may communicate / send information to the Constituent like contract notes, transaction statements, order confirmations, order modifications, order executions, trade confirmations, trade modifications, bills, account statements, delivery / payment schedules, policies, procedures, notices, FAQs and any other documents/ reports, using any or more of the following means or methods through post/ speed post/ courier / registered A.D /facsimile/telegram / cable / e-mail / voice mails / telephone (telephone includes such devices as mobile phones etc.) including SMS on the mobile phone or any other similar device; by messaging on the computer screen of the Constituent’s computer; by informing the Constituent through employees / agents of the Member; by publishing / displaying it on the website of the Member / making it available as a download from the website of the Member; by displaying it on the notice board of the branch / office through which the Constituent trades or if the circumstances, so require, by radio broadcast / television broadcast / newspapers advertisements etc.; or any other suitable or applicable mode or manner. The Constituent agrees that the postal department / the courier company / newspaper company and the e-mail / voice mail service provider and such other service providers shall be the agent of the Constituent and the delivery shall be complete when communication is given to the postal department / the courier company / the email /voicemail service provider, etc. by the Member and the Constituent agrees never to challenge the same on any grounds including delayed receipt/ non receiptor any other reasons whatsoever.
    b) The Constituent agrees that it is his / her/ its responsibility to review any / all information communicated including but not limited to trade confirmations, the contract notes, the bills or statements of account, margin requirements etc. communicated to the Constituent by any of the aforesaid means or mode whatsoever, immediately on their receipt and take necessary action. All information contained therein shall be binding upon the Constituent.
    54. a) The Constituent agrees and acknowledges that the Member shall not be liable to provide him with any legal, tax, investment or accounting advice or advice regarding the suitability or profitability of a commodity or investment and as
    such all investment and disinvestment decisions are based on the Constituent’s own evaluation of financial circumstances and investment objectives. This extends to any decision made by the Constituent on the basis of any information that may be made available by the Member including that on the website or through SMS etc. The Constituent will not hold nor seek to hold the Member or any of its officers, directors, employees, agents, subsidiaries, affiliates or business associates liable for any trading losses or other losses, costs or damage incurred by the Constituent consequent upon relying on information, research opinions or advice or any other information whatsoever including that on the website whether put up by the Member or any other agency. The Member does not represent and shall not be deemed to have represented, that the investment information is accurate or complete. The Constituent is aware that any information based on the research of the Member or other external sources, is subject to normal variations in the commodity market and is merely an estimation of the viability or otherwise of certain investments, and the Member shall not be deemed to have assumed any responsibility for such information. The Constituent should seek independent professional advice regarding the suitability of any investment decision. The Constituent also acknowledges that the Member’s employees are not authorised to give any such advice and that the Constituent will not solicit or rely upon any such advice from the Member or any of its employees.
    b) The Constituent agrees that the Member does not guarantee and shall not be deemed to have guaranteed the timeliness, sequence, accuracy, completeness, reliability or content of the market information or messages disseminated to the Constituent. The Member shall not be liable for any inaccuracy, error or delay in, or omissions of any such data, information or messages, due either to any act or omission by the Member or to any “force majeure” event (e.g. Flood, extraordinary weather condition, earthquake or any other act of god, fire, war, insurrection, riot, labor dispute, accident, action of government, communication, power failure, shut down of the systems for any reason (including on account of computer viruses), equipment or software malfunction); any fraud committed by any person whether in the employment of the Member or otherwise or any other cause which is beyond the reasonable control of the Member.
    c) The Constituent agrees that notwithstanding anything to the contrary contained in this agreement, mere entering
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    into this agreement by the Constituent, does not entitle the Constituent to any / all the services/ facilities contemplated under this agreement and the Member may in its absolute discretion provide or decide not to provide the requested service(s) / facility(s).
    d) Notwithstanding anything to the contrary contained in this agreement, the Constituent hereby agrees to hold the Member continuously harmless and indemnified against any claims, demands, actions, proceedings, losses, damages, liabilities, charges and/or expenses that are occasioned or may be occasioned on account of the Member having entered into this agreement and/or having dealt with / for the Constituent.
    55 a) The Constituent hereby authorises the Member to take all such steps on the Constituent’s behalf as may be required or advisable in the Member’s opinion for compliance with the exchange provisions or any other law or provisions or to complete or settle any transactions entered into through or with the Member or executed by the Member on behalf of the Constituent. However, nothing contained herein shall oblige the Member to take such steps.
    b) The Constituent agrees to keep himself/ herself/ itself updated regarding the changes in the rules, regulations, bye laws of the commodity exchange(s) and/or guidelines issued by FMC and/or the requirements/ procedures of the Member and the Member is under no obligation to inform the Constituent of any such changes. The Constituent agrees that he / she / it shall keep a track of any and all such changes by logging on to the respective websites of the exchange(s) www.mcxindia.com; www.ncdex.com; FMC (www.fmc.gov.in) or Member (www.elitestock.com).
    c) The Constituent agrees that the Member may freeze the account and/or trading facility / any other service facility may be disabled by the Member if the Constituent has or / is likely to evade / violate any laws, rules, regulations, directions of a lawful authority whether Indian or foreign or if the Member so apprehends.
    d) The Constituent agrees that the failure of the Member to enforce at any time any terms contained in this agreement shall not be construed to be the waiver of any terms or of the right thereafter to enforce each and every term.
    e) Notwithstanding anything to the contrary stated in this agreement, the Member shall be entitled to terminate this agreement with immediate effect in any of the following circumstances:
    (i) If the action of the Constituent are prima facie illegal/ improper or such as to manipulate the price of any commodities or disturb the normal/proper functioning of the market, either alone or in conjunction with others.
    (ii) If there is any commencement of a legal process against the Constituent under any law in force;
    (iii) On the death/ lunacy or other disability of the Constituent;
    (iv) If a receiver, administrator or liquidator has been appointed or allowed to be appointed of all or any part of the undertaking of the Constituent;
    (v) If the Constituent has voluntarily or compulsorily become the subject of proceedings under any bankruptcy or insolvency law or being a company, goes into liquidation or has a receiver appointed in respect of its assets or refers itself to the Board for Industrial and Financial Reconstruction or under any other law providing protection as a relief undertaking;
    (vi) If the Constituent being a partnership firm, has any steps taken by the Constituent and/or its partners for dissolution of the partnership;
    (vii) If the Constituent have taken or suffered to be taken any action for its reorganization, liquidation or dissolution;
    (viii) If the Constituent has made any material misrepresentation of facts, including (without limitation) in relation to the Security;
    (ix) If there is reasonable apprehension that the Constituent is unable to pay its debts or the Constituent has admitted its inability to pay its debts, as they become payable;
    (x) If the Constituent suffers any adverse material change in his / her / its financial position or defaults in any other agreement with the Member;
    (xi) If the Constituent is in breach of any term, condition or covenant of this Agreement;
    (xii) If any covenant or warranty of the Constituent is incorrect or untrue in any material respect; However notwithstanding any termination of the agreement, all transactions made under / pursuant to this agreement shall be subject to all the terms and conditions of this agreement.
    f) In this agreement, unless the context otherwise requires:
    I. Words denoting the singular number shall include the plural vice versa;
    II. The pronouns “he”, “she”, “it” and their cognate variations are used as inter changeable and should be interpreted in accordance with the context;
    III. Words denoting a person shall include an individual, corporation, company, partnership, trust or other entity; provided however that clauses specifically
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    applicable to a company or body corporate shall not apply to any other entity;
    IV. Heading and bold typeface if used are only for convenience and ease of reference and shall be ignored for the purposes of construction or interpretation of any provision of this agreement;
    V. References to the word “include” or “including” shall be construed without limitation;
    VI. Reference to any party to this agreement or any other agreement or deed or other instrument shall include its successors or permitted assigns;
    VII References to recitals and clauses shall be deemed to be a reference to the recitals and clauses of this agreement;
    VIII. References to any enactment shall be construed as referring also to any amendment or re-enactment thereof and to any rule, bye-laws, regulation, business requirement, specification, order, notification, circular or other provision made under it.
    56. The Constituent confirms having read and accepted the terms and conditions of this agreement and those relating to various services and products and accepts and agrees to be bound by their terms and conditions contained therein including
    those excluding/limiting the member’s and exchange’s liabilities. The failure of the Constituent to understand the risk involved shall not render a contract as void or voidable and the Constituent shall be and shall continue to be responsible for all the risks and consequences for entering into trades in the segments in which the Constituent chose to trade.
    57. The Constituent agrees to immediately notify the Member in writing if there is any change in the information relating to Constituent including but not limited to the information in the ‘Constituent registration form’ provided by the Constituent to the Member at the time of opening of the account or at any time thereafter.
    58. In addition to the specific rights set out in this agreement, the member shall be entitled to exercise any other rights which may have under the rules, bye laws and regulations of the exchanges (s)/ FMC and circulars issued there under.
    59. The provisions of this agreement shall always be subject to government notifications, any rules, regulations, guidelines and circulars issued by FMC and rules, regulations and bye laws of the relevant commodity exchange(s) as may be in force from time to time and all these shall be read as part and parcel of the agreement unless repugnant to the context.
    60. All disputes are subject to NCT of Delhi jurisdiction only.
    IN WITNESS THEREOF, the parties to agreement have caused these presents to be executed as of the day and year first above written.
    Signed for and on behalf of
    CLIENT
    Signature
    By :
    WITNESS
    Signature
    Name :
    Address :
    Signature
    Name :
    Address :
     
    Signed for and on behalf of
    For Elite Comtrade Private Limited
    Authorised Signatory
    By :
    WITNESS
    Signature
    Name :
    Address :
    Signature
    Name :
    Address :
    Note:All references to the specific quantity/rate/fee mentioned in this agreement are subject to change from time to time, as so agreed to in writing between the parties.
    (31)
     
     
    ELECTRONIC CONTRACT NOTE [ECN] – DECLARATION APPENDIX- “A”
     
    (VOLUNTARY)
    To,
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar,
    Phase-I, Delhi-110091
    Dear Sir,
    I,    a client with Member

    M/s. Elite Comtrade Private Limited of MCX, NCDEX Exchange undertake as follows:
    . I am aware that the Member has to provide physical contract note in respect of all the trades placed by me unless I myself want the same in the electronic form.
    . I am aware that the Member has to provide electronic contract note for my convenience on my request only
    . Though the Member is required to deliver physical contract note, I find that it is inconvenient for me to receive physical contract notes. Therefore, I am voluntarily requesting for delivery of electronic contract note pertaining to all the trades carried out / ordered by me.
    . I have access to a computer and am a regular internet user, having sufficient knowledge of handling the email operations.
    . My email id is    This has been created by me and not by someone else.
    . I am aware that this declaration form should be in English or in any other Indian language known to me.
    . This declaration is valid till 31st March   ( yyyy )
    [The above declaration has been read and understood by me. I am aware of the risk involved in dispensing with the physical contract note, and do hereby take full responsibility for the same]
    (The above lines must be reproduced in own handwriting of the client.)
    Client Name:
    Unique Client Code :
    PAN:
    Address :
    Signature of the client
    Date    :   
    Place   :   
    Verification of the client signature done by,
    Name of the designated officer of the Member   :   
    Signature   : Date   :
    Instructions:
    . This declaration form has to be sent by the Member to the client on the email id provided by client while opening the trading account.
    . The client shall, on receipt of this email, print the email as well as the declaration form.
    . The hard copy of the declaration shall be filled up by the client and submitted to the Member along with a signed hard copy of the email. The Member shall acknowledge the receipt of the declaration from the client.
    . The size of the font of this declaration must be at least 12.
    (32)
     
    DECLARATION FOR NAME MISMATCH
    I hereby declare that
    1. My name mentioned in PAN Card is  
    2. In additional I D Proof i.e. Voter Id / Passport / Driving License it is 
    3. In Bank A/c No.  it is
    4. In  is this  
    Further I declare that the names mentioned in above details document pertains to me, therefore I request my account and make all payouts in the same name as mentioned in my bank proof.
    Thanks
    Name of the Client :
    Client Signature
    Date :
    DECLARATION BY HUF
    To,
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar,
    Phase-I, Delhi-110091
    As our HUF firm wishes to open an account with you DP in the said name       
    we beg to say that the first signatory to this letter, i.e.,     is the Karta of the Joint
    Family and other signatories are the adult co-parceners of the said family.
    We further confirm that the business of the said joint family is carried on mainly by the said Karta as also by the other signatories hereto in the interest and for the benefit of the entire body of co-parceners of the joint family. We all undertake that claims due to the DP from the said family shall be recoverable personally from all or any of us and also for the entire family properties of which the first signatory is the Karta, including the share of minor co-parceners
    In view of the fact that ours is not a firm governed by the Indian Partnership Act of 1952, we have not got our said firm registered under the said Act.
    We hereby undertake to inform the DP of the death or birth of a co-parcener of any change occurring at any time in the membership of our joint family during the currency of the account.
    Name & signature of Karta
    Name. Signature
    Name & Signature of Adult Co-parceners (Use Annexure for additional Members)
    S. No. Name PAN Signature
    1. Signature
    2. Signature
    3. Signature
    4. Signature
    Name & Date of Birth of Minor-Co-parceners
    S. No. Name Signature
    1. Signature
    2. Signature
    3. Signature
    4. Signature
    (33)
     
    AUTHORISATION LETTER FOR AUTHORISED PERSON
    To,
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex,
    Mayur Vihar, Phase-I, Delhi-110091
    AUTHORITY LETTER FOR AUTHORISED PERSON
    I/we have been / shall be dealing through you as my / our broker on the Commodity Exchanges such as MCX/NCDEX. As my / our Broker i.e. agent I / we direct and authorize you to carry out trading / dealings on my / our behalf as per instructions given below. Please treat these instructions as written ratification of my / our verbal directions/ authorizations given and carried out by you earlier.
    I/we authorise Mr./Ms.    to deal / transact on my /our behalf and to place orders, give instructions, make & receive payments of deliveries and monies, collect contract notes, bills, order confirmations, trade confirmations, account statements and any other documents or communication, to sign any document, settle the account, enter into any compromise and to do any and all act (s) on my /our behalf which I/we can do. And I /We the undersigned do hereby agree and declare and confirm that all the acts and things done by him/her or his/her substitutes shall be my /our acts, deeds and things validly done by me/ us to all intents and purposes.
    Please treat this authorization as written ratification of my/our verbal directions/ authorizations given and carried out by you earlier. I/We agree to indemnify you and keep you indemnified against all losses, damages and actions which you may suffer or face as a consequence of adhering to and carrying out my / our directions given above.
    Thanking You
    Yours faithfully
    Client Signature Date:
    Client Name : Place :
    Name & Address details of my/ our Authorised Person is:
    Name:
    Address:
    (34)
     
     
    FORMAT OF BOARD RESOLUTION
    CERTIFIED TRUE COPY OF THE RESOLUTION - PASSED IN THE BOARD MEETING OF  LTD.
    HAVING REGISTERED OFFICE AT    HELD ON  DAY OF  ,
    20  AT   A.M,/P.M.   
    RESOLVED THAT the Company is empowered to deal with Elite Comtrade Private Limited., Member of The Multi Commodity Exchange Limited (MCX), Member of National Commodity & Derivatives Exchange Ltd. (NCDEX) in Commodity Segment.
    Resolved further that in pursuance of the same the company do enter into an agreement with Elite Comtrade Private Limited Member of (MCX/NCDEX) and the said Trading Member be and is hereby authorised to honor instructions, oral or written, given on behalf of the company by any of the under noted authorised signatories:
      Name Designation Specimen Signature
    1.      
    2.      
    3.      
    Who are authorised to sell, purchase, transfer, endorse, negotiate and/ or otherwise deal through Elite Comtrade Private Limited, on behalf, of the Company.
    RESOLVED FURTHER THAT Mr.   and/ or Mr.    Directors
    and/or Mr.    authorized Signatory of the Company be and are hereby jointly and/ or
    severally authorised to sign, execute and submit such forms, applications, undertakings, agreements and other requisite documents, writings and deeds as may be deemed necessary or expedient to give effect to this resolution.
    RESOLVED FURTHER THAT, the Common Seal of the Company be affixed, wherever necessary, in the presence of any Directors or of anyone Director and Company Secretary, who shall sign the same in token of their presence.”
    For   Ltd.
    Chairman / Company Secretary
    Instruction: Please put Common Seal of the Company
    FORMAT OF BOARD RESOLUTION IN CASE OF CORPORATES
     
    (35)
     
    ACKNOWLEDGEMENT
     
    To,
    Elite Comtrade Private Limited
    S-8, DDA Shopping Complex, Mayur Vihar, Phase-I, Delhi-110091
     
    Dear Sir,
    I/We hereby acknowledge the receipt of Right and Obligations, Risk Disclosure Document and Guidance Note with duly executed copy of KYC and other documents. Further I/We confirm that the supporting documents for KYC submitted by me/us are true and correct. I/We acknowledge that the other details related to my/our account are as under:
     
    Name Address
     
      Trading Code  
     
    UCC My Email Id
     
    Client Signature
    CHECK LIST FOR CLIENT REGISTRATION FORM
     
      FORM RECEIVING DATE:   BRANCH CODE: CLIENT CODE:
        RL/TL  
      ACCOUNT OPENING DATE:      
        SUB BRANCH CODE :  
     
      1. CHECKING DETAILS YES REMARKS
      a)  Name as it appears on the ID & Address Proof(in capital letter)      
      b)  Email Id      
      c)  Mobile No.      
      d)  Signature of client on all pages and whenever necesarry(Witness whenever required)      
      e)  Signature Checked and Verified.      
      f)   Photography(Duly attested)      
      g)  A copy of PAN Card(Self attested)      
      h)  Address Proof(Self attested)      
      i)  Bank Proof containing Client Name(Self attested)      
      j)  Stamp Paper:      
      k)  Exchange Given:   MCX  NCDEX      
      2.  Telephonic conversation of Particulars done 
    byDate  Time On Phone No. 
         
      3.  Details Punched in by computer      
      4.  Cross checking done by      
      5.
    UCC Uploaded:
      MCX  NCDEX
     
       ENTERED IN FORM DATA
         
      6.  INTERNET TRADING:
       Odin Diet  Web Trading
         
      7.  Clients Account Status Report issued by      
      8.  Form Returned to Compliance by 
    byDate:  Time: 
         
      9.  Kit Dispatched on 
    by(Date)  POD 
         
    www.elitewealth.in
    Elite Comtrade Private Limited
    MEMBER : MULTI COMMODITY EXCHANGE OF INDIA LTD.
    MCX MEMBERSHIP NO. : 12325 • FMC CODE : MCX/TCM/CORP/0330
    MEMBER : NATIONAL COMMODITY AND DERIVATIVES EXCHANGE
    NCDEX MEMBERSHIP NO. : 01075 • FMC CODE : NCDEX/TCM/CORP/1052
    Regd. Office : S-8, DDA SHOPPING COMPLEX, MAYUR VIHAR, PHASE-I, DELHI-110091
    TEL.: 011-43035555, 40000704 FAX : 011-22793402