Validus Wealth

TERMS & CONDITIONS

Financial Services Account Terms & Conditions

Validus Wealth Managers Pvt. Ltd. (hereinafter referred to as “Validus Wealth”) as agent of various asset management companies / financial product providers, whereby offering/distributing/referring various Financial Products/services including but not limited to Mutual Funds, Alternative Investment Funds, Third Party Portfolio Management Services, Bonds, Insurance products, Structured Products, Other financial products/ services, to its Clients (hereinafter referred to as “Financial Services” and that such products would be referred to as “Financial Products”). The Client may hold Investments in various holding combinations (singly as well as Jointly with other Clients of Validus Wealth). Each such holding combination of account will be, hereinafter, referred to as “Financial Services Account”. Validus Wealth requests the Client to carefully go through Financial Services Terms & Conditions. By agreeing to avail the Financial Services, the Client understand and accept all the obligations stipulated in the Financial Services Terms & Conditions and agree to abide by them. Accessing the Financial Services through any medium, including but not limited to Validus Wealth Website or Validus Wealth mobile apps, is also subject to these Financial Services Terms & Conditions.

Section A: General Financial Services Terms and Conditions – Applicable to all Client availing Financial Services

The Client understands, acknowledges, agrees, undertakes or confirms:
  1. That in case of Mutual Funds, Validus Wealth offers only Regular Plans.
  2. That mutual fund investments as well as other Financial Products are subject to market risks and that the Client shall read the relevant offer documents carefully before making any investments.
  3. That by making any investment decision, the Client confirms to Validus Wealth that it is a well-informed decision and that Client has such knowledge and experience in financial matters as may be necessary to be able to evaluate the merits and risks of entering into the proposed transaction. The Client also confirms that Client is capable of bearing the economic/financial risks associated with such investments.
  4. That financial markets are controlled by independent market forces and hence are very volatile in nature. As a consequence of which, the Financial Products are subject to a very high degree of risk and the associated returns cannot be predicted with absolute certainty. Prior to making any investment, the Client must ensure that Client has studied the economic, political and financial risks involved and that Client understands the inherent risk of investing in a product that unless such an Investment Product is guaranteed, his/her losses may exceed investment. If the Client is not sure of the involved risks, it is advisable to seek appropriate professional advice from investment advisor. The products will have terms and conditions that the Client must familiarize him/her/them with before Client makes the decision to invest in any product or service. Before the Client invests in a product or service, he must understand carefully, and if required, with help of an expert independent counsel, the features and risks of each product or service as given in product documentation, such as key information memorandum, scheme information, marketing material, risk disclosure booklet etc.
  5. That all investment decisions are matter of personal choice made by them at their sole discretion and post their own evaluation of the risks involved. If notwithstanding anything stated herein, Validus Wealth or any employee of Validus Wealth gives any advice or representation to the Client, Validus Wealth shall have no liability for any such advice or representation made, as it will be Client’s responsibility to make an independent assessment. The Client acknowledges that Validus Wealth may recommend products to him/her/them and may provide investments suggestions and conduct risk based assessments of transactions in account from time to time however the final investment decision is sole responsibility of the Client.
  6. That any information contained in Validus Wealth Brochures or other materials or otherwise communicated by Validus Wealth shall not be constructed by him/her/them as investment advice and that all decisions to purchase or sell units/securities made by him/her/them shall be on the basis of Client’s own personal judgment arrived at after due consideration. The Client understands and agrees that Validus Wealth does not in any manner:
    1. Guarantee payments on any Investment Product; or
    2. Guarantee of liquidity of any Investment Product; or
    3. Make any offer to buy back any Investment Product; or
    4. Guarantee the redemption or repayment of any Investment Product on maturity; or
    5. Guarantee the payments of interest or dividend; or
    6. Promise, indicate or guarantee any returns; or
    7. Guarantee any good delivery.
  7. That no transaction charges will be levied by Validus Wealth on purchases of any Mutual Fund products. Consequently, the respective Asset Management Companies (AMCs) will issue Mutual Fund units equivalent to the full subscription amount to the investors.
  8. That any matter/dispute with respect to nomination and deceased claims with respect to mutual fund units shall be settled by him/her/them directly with concerned Asset Management Company / Mutual Fund House without any reference to Validus Wealth.
  9. That mode of operations is defined by Validus Wealth at Financial Services Account level.. The mode of operations will be either or survivor for all mutual fund investments in case of joint holding pattern Financial Services Account by default unless and until otherwise agreed with the client.
  10. That as a holder in an Financial Services Account, Client along with other holder(s), if any, shall be bound by any valid transactions done by any holder(s) of the Financial Services Account in accordance with these Financial Services Terms and Conditions.
  11. That PAN is required to be quoted for all holders for all investment transactions and that such PAN number should be KRA verified enabling acceptance of transactions under such a PAN number. The Client authorises Validus Wealth to fetch Client’s KYC details and KYC status from the KYC Registration Agencies (KRAs). That any purchase whether fresh or additional including switch shall not be permitted by the AMCs if the KYC status of PAN is not updated as “KYC Registered – New KYC”. That as per regulatory requirement, individual investors and joint holders are required to provide extended KYC and FATCA details. In absence of the same, transactions may get rejected by AMC/RTA.
  12. To utilize, share my KYC information and documents such as identity (name, PAN, age, Aadhaar details etc.), address in Validus Wealth’s records for sending it to Asset Management Companies (AMC) / Registrar and Transfer Agents (RTA) of the AMCs/ NSE MFSS/ Insurance Company / Other Financial Products and Services providers or any other party related to the transaction, along with other KYC details for the purpose of facilitating transactions based on Client’s instructions and use it in the manner consistent with these Financial Services Terms and Conditions and applicable regulatory requirements as applicable from time to time.
  13. To provide following consent/authorisation to MFs/AMCs/MF RTAs for the following
    1. For validating Clients’ Aadhaar Number with UIDAI.
    2. For updating/linking Clients’ Aadhaar number based on the PAN given in all folios maintained with all Mutual Funds/RTA/AMCs for KYC & other related due diligence purpose in line with PMLA requirements and Account enrichment purpose.
    3. The Client further authorizes MFs/AMCs/MF RTAs to download / share Clients’ Aadhaar & associated demographic information (including any updated information) with other SEBI Registered Intermediaries like KRAs, Mutual Funds to facilitate single submission / update across all my accounts associated with such intermediaries based on PAN or other key information available with such intermediaries. Further declare that this consent will remain valid for updation in all existing/new folios(s) serviced by MFs/AMCs/MF RTAs That the first holder in the investment purchase transaction needs to be one of the holders in Bank account which is being debited to fund the transaction.
  14. That the redemption / dividend proceeds shall be credited by AMC to Bank account linked as the primary/default bank account to the folio from where the redemption / dividend is being made unless different practice is followed by an AMC. In case of a joint holder in the folio, if Client is not one of the holders in the primary/default Bank account linked to such a folio, Client will not held Validus Wealth liable for the redemption / dividend proceeds being credited to the account of any other holder.
  15. That Validus Wealth may ask Clients to provide necessary information for it to profile the Clients to meet Client suitability requirements. Validus Wealth may not offer an financial product or execute transaction with respect to an financial product for a Client if it believes that the transaction may not be suitable for the Client.
  16. To keep Validus Wealth informed of at all times, of any change /alteration in particulars furnished to Validus Wealth and authorise Validus Wealth to update any change /alteration in particulars that Validus Wealth may be informed of by him/her/them and/or is brought to the notice of Validus Wealth and hereby authorise Validus Wealth to contact him/her/them on such changed/altered particulars. Client shall be solely responsible to ensure that Validus Wealth has been informed of the correct particulars for communication. Client agrees to indemnify Validus Wealth against any fraud or any loss or damage suffered by Validus Wealth due to Client providing any incorrect particulars and / or failure on Client’s part to communicate the change/alteration in his/her particulars.
  17. That all details provided to Validus Wealth are true and correct and any instruction given to Validus Wealth to transact business on Client’s behalf shall be in due conformity with the applicable laws as may for the time being be in force. That any false / misleading information given or suppression of any material fact will render the Financial Services, being provided to the Client liable for termination.
  18. That any tax implications arising out of any transactions entered in to pursuant to these Terms & Conditions would be as per the provisions of the Income Tax Act, 1961, or any modification or re-enactment thereof. The Client further agree and declare that any and all tax liability will be Client’s sole responsibility. The Client shall execute and deliver to Validus Wealth, from time to time such other documents as may be specified by Validus Wealth for compliance or updating of records if any.
  19. That the Client would not hold Validus Wealth or its affiliates liable for any loss arising on account of delays in putting forth the execution of instructions issued by him/her/them on account of material discrepancies in the instruction or for any other reason beyond the control of Validus Wealth or its affiliates.
  20. That any amount that will be invested by the Client will be derived through legitimate sources and will not be held or designed for the purpose of contravention of any Act, Rules, Regulations or any statute or legislation or any other applicable laws or any Notifications, Directions issued by any governmental or statutory authority from time to time.
  21. That all transaction requests are subject to the threshold limits as set by the AMC / financial product provider.
  22. That any false / misleading information given by him/her/them or suppression of any material fact will render the Financial Services being provided to him/her/them liable for termination.
  23. That, save and except under conditions beyond the reasonable control of Validus Wealth, all requests received by Validus Wealth prior to the cut off time shall be processed on the best effort basis on the same day. Such ‘cut off-time’ shall be communicated by Validus Wealth to the Client from time to time on its website. Financial Services
  24. If Mutual Fund investments are without nomination then such transactions may be liable to be rejected by the respective mutual fund houses.
  25. That Validus Wealth does NOT provide investment advisory services in any manner or form. Financial Products do not pertain to Validus Wealth. Financial Products are distributed by Validus Wealth on a non -discretionary and non- risk participation basis. The final investment decision shall at all times exclusively remain with the investor.
  26. That Client shall be responsible to ensure that the transaction/ application form is complete and all details as required are duly filled in. Validus Wealth is not liable for any consequence in case any of the particulars provided are false, incorrect or incomplete.
  27. That Validus Wealth shall have no liability if it does not or is unable to stop or prevent the implementation of an instruction, which is subsequently countermanded. Where Validus Wealth considers the instructions to be inconsistent or contradictory it may seek clarification from the Client before acting on any instruction of him/her/them or act upon any such instruction as it deems fit. Validus Wealth states that it has no liability or obligation to keep a record of the instructions to provide information to the Client or for verifying the Client’s instructions.
  28. That all instructions including instructions for modification shall be given only by the Client (any one of the holders) or authorised person/representative appointed by the client named in Validus Wealth’s records and shall be binding on the Client personally.
  29. That Validus Wealth may refuse to act on any instruction unless it is given in writing/ /phone over recorded line /facsimile/email/online or in any manner and form acceptable to Validus Wealth and would be subject to Validus Wealth’s absolute right to verify such instructions. Client hereby authorizes Validus Wealth to record all or any communication between Client and Validus Wealth’s officials / agents. Further Client agrees and understands that, Validus Wealth shall have no responsibility to determine the authenticity of any instructions given or purported to be given by the Client. The Client shall not hold Validus Wealth liable on account of Validus Wealth acting in good faith on any of Client’s instructions or instructions purported to be given by the Client.
  30. That the security and control procedures provided by Validus Wealth are designed to verify the source of communication and not to detect errors in transmission or content including discrepancies between names and account numbers and that Validus Wealth, or any intermediary, may either not execute an instruction or execute and by reference to PAN/account number only, even if the name on the account is also provided. Nothing contained herein shall require Validus Wealth to violate any applicable laws, rules or procedures/instructions. Validus Wealth shall have no further duty to verify the content of any instruction and communications, whether or not authorized, sent in its name and accepted by Validus Wealth.
  31. That once a valid transaction has been sent to product provider/AMC/NSE/ RTA, Validus Wealth is not responsible in any manner for the execution of the transaction and that the RTA / AMC / product providers /NSE are solely responsible for any act or omission in respect of the execution of transaction.
  32. That transaction request shall be sent for processing by Validus Wealth and is subject to rejection by the registrar or AMC or product provider.
  33. That transactions once executed cannot be modified or cancelled.
  34. That, with respect to third party financial products/services, Validus Wealth is acting merely as a distributor / referrer of such third party financial products/services and any investment in such third party products/services shall constitute a contract between the investor and the third party. Validus Wealth shall not be liable or responsible for any loss resulting from third party’s products/services. The products, services and benefits referred to herein are subject to the terms and conditions governing them as specified by third party from time to time.
  35. To take note of risks highlighted about the product in the offer document and due caution be exercised (including if necessary, obtaining of advice of tax/ legal/ accounting/ financial/ other professionals) prior to taking any decision, acting or omitting, to act on the basis of the information contained therein.
  36. That Validus Wealth shall not be liable for any failure to perform any of its obligations if the performance is prevented, hindered or delayed by a Force Majeure Event and in such case its obligations shall be suspended for so long as the Force Majeure
  37. Event continues. “Force Majeure Event” includes any event due to any cause beyond the reasonable control of either Party including, without limitation, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, breach of security and encryption codes.
  38. That the units of the scheme shall be allotted, redeemed or switched, as the case may be, at the Net Asset Value (NAV) as determined by the product provider / Mutual Fund and consistent with the terms of the Scheme. However, Validus Wealth shall not be liable for any loss that may arise to the Client as a result of the incorrect NAV applied on units allotted to the Client by the Mutual Fund.
  39. That in case of redemption/ switch out transaction for all units in Mutual funds, all units held by such client in the folio in respect of that scheme will be redeemed/ switch out including any units held with some other distributor in the same folio. That in case of Redemptions, if the number of Units held by the Client as per the records maintained by AMC and/or the Authorized Registrar is less than the number of Units requested to be redeemed then, AMC is authorised to redeem the available Units and not reject the redemption request.
  40. That after the first purchase transaction in any Mutual fund, the Client may not be permitted to transact till the Folio number is allotted, depending upon the processing time of the Mutual Fund’s Registrar. Validus Wealth does not accept any liability for delay in processing time at the Mutual Fund’s or Registrar’s end.
  41. That any transaction request due on holiday would be processed on the next business day and respective NAV would be applicable as per the Mutual Fund’s offer document.
  42. That in case the investment is made in the name of a minor with a guardian, then the investments made in the above manner are for the sole benefit of the minor.
  43. That the value of the Client’s Investments may fluctuate. If Client redeems investments, he/she may receive more or less than he/she paid depending upon the market value of the investment at the time of redemption or upon NAV as may be determined by the product provider.
  44. That if after execution of any transaction it is for any reason found that Validus Wealth has not been put in sufficient funds, the Client shall pay the deficient amount to Validus Wealth forthwith on demand failing which Validus Wealth may (but shall not be bound to) square up the transaction at any time at his/her sole risk and cost. Any loss on such squaring up will be borne by him/her solely and he/she will pay to Validus Wealth the additional amount that may be payable by him/her, Validus Wealth’s demand being conclusive.
  45. That Validus Wealth shall be under no duty to assess the prudence or otherwise of any instructions given by the Client(s) or to give any advice in relation thereto and would be justified in acting on his/their instructions irrespective of their prudence or otherwise.
  46. That the service is provided at sole discretion of Validus Wealth and may be withdrawn with30 days prior notice. Validus Wealth may levy charges at its sole discretion in respect of these services.
  47. That information displayed on Validus Wealth’s website is based on data received from third party market data providers/AMC/AMFI/RTA & subject to change without notice
  48. Validus Wealth shall be indemnified against any improper/fraudulent fund transfer instruction purported to be received from the Client.
  49. Indemnity: In consideration of Validus Wealth providing access to services, the Client shall, at his own expense, indemnify and hold Validus Wealth, its directors and employees, representatives, agents and/or the Affiliates, as the case may be, indemnified against all losses and expenses on full indemnity basis which Validus Wealth may incur, sustain, suffer or is likely to suffer in connection with Validus Wealth’s or Affiliates’ execution of the Client’s instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing service through the platform , for any action taken or omitted to be taken by Validus Wealth and /or the Affiliates, its officers, employees or agents, on the instructions of the Client. The Client will pay Validus Wealth and /or the Affiliates such amount as may be determined by Validus Wealth and/or the Affiliates to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature. Further, the Client agrees, at its own expense, to indemnify, defend and hold harmless Validus Wealth, its directors and employees, representatives, agents, and its Affiliates against any claim, suit, action or other proceeding brought against Validus Wealth, its directors and employees, representatives, agents, and Affiliates by a third party, to the extent that such claim, suit, action of other proceeding brought against Validus Wealth, its directors and employees, representatives, agents, and Affiliates is based on or arises in connection with:
    1. a violation of Terms contained herein by the Client;
    2. any deletions, additions, insertions or alterations to, or any unauthorized use of / access to / service(s) , by the Client;
    3. any misrepresentation or breach of representation or warranty made by the Client contained herein; or
    4. any breach of any covenant or obligation to be performed by the Client hereunder.
  50. That notwithstanding anything contrary contained anywhere, the Client shall not hold Validus Wealth responsible and Validus Wealth shall not be liable for any loss, claim or damages of whatsoever nature, if any instruction(s) of the Client is not carried out by Validus Wealth for any reason whatsoever nature.
  51. That Validus Wealth shall not be liable for any loss or damage caused by reason of failures or delay of the mutual fund / any other financial product or service provider to deliver any units purchased even though payments have been made for the same, or failure or delay in making payment in respect of any units sold, though they may have been delivered and the Client shall hold Validus Wealth harmless and free from any claim in respect thereof. Validus Wealth shall also not be liable for any delay, failure or refusal of the mutual fund/any company/corporation or other body in registering or transferring units to Client’s names of for any interest, dividend or other loss caused to him/her/them arising there-from.
  52. That Validus Wealth shall not, in absence of gross negligence on the part of Validus Wealth, be liable to the Client for any act, omission or delay by the mutual fund/any other financial product or service provider or for any claims which the Client may suffer or incur as a result of or in course or discharge by Validus Wealth of its duties. Without prejudice to the above, Validus Wealth shall not be held liable for any loss or damage or failure to comply or delay in complying with its obligations under these Terms and Conditions which is caused directly or indirectly by any event or circumstances beyond Validus Wealth’s reasonable control. These include system failure, network errors, delay or loss of data due to the above and in circumstances of acts of God, floods, epidemics, quarantine, riot, civil commotion and/or war.
  53. That Validus Wealth shall not be held liable for any losses, damages, expenses, costs, liabilities and claims of whatsoever nature caused by fraudulent or unauthorized use or access of Client’s information, and/or signatures. Validus Wealth will not be liable for any loss, damage, cost, charges or expenses directly or indirectly caused by reasons of any defects or imperfections or mechanical or other failure with relation to computer, cable, telex, telephone or postal system. While Validus Wealth will make every effort to have its computer systems available at all times, Validus Wealth makes no guarantees with respect to the availability of such systems. Validus Wealth will make every effort to resolve availability issues such as network problems, virus attacks etc. in an expeditious manner. Notwithstanding these, Validus Wealth will as such not be liable for any loss, damage, cost, charges or expenses directly or indirectly caused by reasons of lack of such availability.
  54. That Validus Wealth will be under no duty to verify compliance with any restrictions on Client’s investment powers.
  55. To provide any and all information that may be required by Validus Wealth from time to time in compliance with existing legal norms and regulations, including but not limited to contact information, address and tax-related information and any information required under existing or future KYC norms and laws. The Client agrees that Validus Wealth may take steps to verify the veracity of such information provided by the Client and the Client agrees to co-operate with Validus Wealth in providing all information requested by Validus Wealth. The Client acknowledges that failure to provide such information in a timely manner may result in his/her ineligibility to avail of some or all of the services of Validus Wealth and that Validus Wealth shall in no way be held liable for any financial loss resulting from such failure to provide information on Client’s part. The Client agrees that such information is required with respect to all the holders in the transaction without which Validus Wealth may not be able to accept and execute the investment transaction.
  56. To pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys’ fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim. The Client hereby agrees that under all circumstances, Validus Wealth’s total aggregate liability for claims relating to Validus Wealth’s obligations contemplated under these Terms, whether for breach or in tort (including but not limited to negligence) shall be limited to the transaction charges/fees or consideration, if any, paid by the Client within the previous one month for use of / access to / availing its service(s), excluding any amount paid towards transactions.
  57. That Validus Wealth may at its sole discretion vary the terms and conditions or withdraw any of the facilities provided herein from time to time.
  58. That any notice or other correspondence addressed by Validus Wealth to the Client may be addressed to the first holder at his/her address (residential/correspondence/email) or to such address as Validus Wealth may be aware. If according to the Client there is any discrepancy in the particulars or details of any transaction or account of statement then the Client shall be obliged to intimate the same to Validus Wealth in writing in 10 days of the first holder receiving notice thereof, failing which such transaction, statement or account (as the case may be) shall be deemed to be correct and accepted by the Client and he/she shall not be entitled to question the correctness or accuracy thereof.
  59. That in the event of breach of any of the terms by the Client and/or any agent or representative, the Client shall be solely liable to pay damages and compensation including all direct and indirect damages, costs, charges and expenses that may be caused to or incurred or suffered by Validus Wealth. While Validus Wealth shall use reasonable precautions, these services are provided on “No warranty No risk basis”. In case any of the above undertakings is found to be false, Validus Wealth shall be at liberty to terminate this arrangement after giving 30 days’ prior notice and the Client shall be held liable for all the costs and consequences arising thereof.
  60. That all disputes and differences arising out of, under or in connection with these terms and conditions or anything done hereunder shall be within the exclusive jurisdiction only to the courts of Mumbai. These terms and conditions are subject to and shall be construed in accordance with the laws prevalent in India.
  61. Fees and Charges: Fees and Charges, if any, for any services will be levied as agreed between Validus Wealth and the Client from time to time.
  62. Investment/ Portfolio Statements: The Client agrees and acknowledges that it shall be the obligation of the product provider and not of Validus Wealth, to regularly send communication like Account statements, fund updates etc. Validus Wealth may provide a facility to its Client (only to first holder) for receiving statements on email / facility to download statements from his/her login on www.validuswealth.com. These statements may include but are not limited to transaction statement and holding statements. The Client by requesting Validus Wealth to furnish such particulars and details and statements by e-mail declares and confirms that he is aware of the risks concerning the e-mail and shall not hold Validus Wealth liable therefore. The Client undertakes to promptly inform Validus Wealth in case any change to his email id or mailing address.
  63. Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP) & Systematic Transfer Plan (STP) Terms and Conditions: Client understands that the minimum monthly amount for each investment made under the SIP/STP/SWP is Rs.500 per fund/per transfer instruction or the minimum amount/units as stipulated by the relevant SIDs/KIMs. That in case of non-availability of cleared and collected funds/the specified mutual fund units as on the stipulated SIP execution date /STP date, the SIP/STP instruction for that month will not be carried out. If the SIP/STP/SWP execution date falls on a holiday, the same would be executed on the next business day. The Client hereby agrees to keep Validus Wealth fully indemnified and held harmless at all times from and against all claims, expenses, loses, damages, costs (including reasonable attorney’s fees), actions, suits proceedings or demands that Client may receive from or on behalf of the mutual fund house(s) in which the Client, is investing, for non-execution or delays in execution of above SIP/STP/SWP instructions either on account of non-availability of sufficient funds/ mutual fund units in his/her account or issues with respect to NACH mandate or delays in the mail/courier services or for any other reason whatsoever.
  64. That Investments from Clients who are from certain countries (e.g. US resident Persons or are residents of Canada) which are not permitted to make investments in certain mutual funds/other Financial Products. Where the product provider does not accept transactions from such category of investors, Validus Wealth shall not be liable for rejection of a transaction by mutual funds/product provider. The decision to accept or reject transaction is solely on the Mutual Fund/product provider.
  65. The client will immediately notify Validus Wealth if there is change in his resident status.
  66. In the event of Client becoming a Resident of US, a resident of Canada, a Non Resident India or a person of Indian origin, the client hereby agrees that Validus Wealth shall be entitled to do all acts and things it deems necessary, including but not limited to (i) blocking of Online Mutual Fund transactions (ii) closure of account, (iii) non-acceptance and/or rejection of any instructions provided by the Client to purchase any investment product, in order to ensure compliance with applicable local laws; applicable laws/rules and regulations of the Clients country of residence and/or any internal policies and any execution of such transactions will be governed by the same.
  67. The Client(s) is aware that VALIDUS WEALTH records or may record conversations between the Client(s) and/ or their representative and VALIDUS WEALTH, over the telephone, and hereby specifically permits VALIDUS WEALTH to do so. Such recordings may be relied upon by VALIDUS WEALTH as and when required.
  68. The Client is aware that VALIDUS WEALTH may impose cut off timings, for operational reasons, which may be earlier than or different to the cut off timings prescribed to VALIDUS WEALTH by third parties and the client agrees to abide by the cut off timings as VALIDUS WEALTH may prescribe, at its sole discretion, from time to time.
  69. VALIDUS WEALTH shall not be responsible for the accuracy of the:
    1. Information filled by the clients in the application form(s) for subscription / transacting in any investment product
    2. KYC [Know Your Client] details submitted by clients
  70. VALIDUS WEALTH has no ongoing obligation to advice/monitor the Client(s) investments held with VALIDUS WEALTH or otherwise. VALIDUS WEALTH may provide information on markets, research reports, markets trends, investment or portfolio reviews or commentary on the performance of financial product to the extent permitted by the relevant regulations to clients. This should not be viewed as investment recommendation or advise
  71. The Client(s), if he is a joint account holder agrees that upon the death or disability of any one or more party, the remaining clients shall immediately provide notice of such event to VALIDUS WEALTH. All transactions thereafter affecting the concerned Client(s) account(s) must be at the joint direction and upon the joint signatures of the legal heirs of the affected party and the remaining signatories. VALIDUS WEALTH shall not be liable for transfers, payments or other transactions that occur in the Account prior to receipt of such written notice. The Client(s) will indemnify Client(s) from any claim or losses arising from transactions in Securities held jointly by the Client(s) with any other person or persons.
  72. The client will treat as confidential (both during and after the termination of the relationship) any information learned about Validus Wealth, including without limitation, its investment strategy or holdings or its products or services in the course of their relationship. The client will not disclose the same to any third party without Validus Wealth written consent. These obligations shall not apply to information which is or becomes known to the public or is received by the client from a third party entitled to disclose it, or is disclosed to competent government authorities or courts or other tribunals in accordance with the requirements of applicable Laws.
  73. Specifically the Client agrees and confirms that Validus Wealth may release the data and information to certain individuals or entities, including but not limited to the following:
    1. An Affiliate
    2. any agent, contractor or third-party service provider who offers services to Validus Wealth and any Affiliate in connection with the operation of their businesses;
    3. any other person under a duty of confidentiality to Validus Wealth, and any Affiliates;
    4. credit information bureaus or collection agencies;
    5. any person or entity to whom Validus Wealth or Affiliate is under an obligation to make disclosure under the requirements of any law, regulation, court order or contractual agreement binding on Validus Wealth or any Affiliate; and
    6. any actual or proposed assignee of Validus Wealth or any Affiliate or transferee of any rights of Validus Wealth , or any Affiliate.

Section B: Applicable to Mutual Funds Online Transactions under POA model (Online Financial Services) Financial Services

Online Financial Services refers to a facility that enables the Client to transact in units of Mutual Funds by placing an instruction with Validus Wealth either on Validus Wealth Website, Validus Wealth mobile app or using Common Investment Transaction form or email to Validus Wealth’s designated Email id) or on recorded line and any other mode as provided by Validus Wealth from time to time. Terms and Conditions for Online Financial Services are mentioned below:

Authorisation by the Client

The Client hereby irrevocably authorizes Validus Wealth, at his / her risk and cost, all of the following:
  1. To execute all investment transactions so instructed by the Client with regard to Mutual Funds (whether solely or jointly with others) at Client’s express instructions;
  2. To receive the account statement(s)/feeds and any other communication from the mutual fund / RTAs pertaining to the above said units and/or to acknowledge receipt of the same;
  3. To sign all such writings and do all such acts as may be required for redeeming any units;
  4. To correspond with and give notice to the mutual fund , the corresponding asset management company or any other product provider on behalf of the Client;
  5. To instruct the mutual fund and/or the corresponding asset management company to make note of instructions with regard to nomination/change in investment plan/any other changes.
  6. To do or omit to do all such and things as Validus Wealth may in its discretion consider to be necessary or desirable in order to perform its duties hereunder or to comply with any laws, orders, rules, regulations or directions of any Government or regulatory or other authorities
  7. To do, perform and execute all such other acts, deeds, instruments, matters and things for and on Client’s behalf as Validus Wealth may think fit in accordance with the Investment Scheme and any related writings about these premises as fully and effectually and to all intents and purposes as the Client could do if Client were personally present.
  8. If for any reasons Validus Wealth is unable to purchase or redeem the full quantity of units such as instructed by Client, Validus Wealth shall be entitled at its discretion and the Client hereby irrevocably authorise Validus Wealth to purchase or sell (as the case may be) a lesser quantity of units/securities. Validus Wealth shall not be responsible for the non-execution of Client’s instruction for the entire quantity or the remaining quantity.

Declaration by the Client

The Client further agrees, understands, undertakes and confirms:
  1. To abide by the Financial Services Terms & Conditions including those applicable to Online Financial Services from time to time as set forth on the website www.Validus Wealth.com. I understand that access to any changes/updation to these services would be available on the website only.
  2. That all such acts and deeds done for and on behalf of the Client shall be binding on Client and his/her successors & legal heirs.
  3. That upon creation of Financial Services Account of the Client at Validus Wealth, all the holders of the Financial Services Account would be login to his/her account after following user creation, password creation and other relevant steps. The Client confirms that no separate Online Financial Services – Form / Terms and Conditions would need to be separately signed / accepted online by all the holders of the Financial Services Account before any transaction under Online Financial Services facility Financial Services. The above authority and acceptance of Terms would be applicable on all Investment transactions and Investments holdings where the Client is sole or one of the holders.
  4. That if the folio number is not mentioned in a Purchase/SIP/Switch/STP transaction by the Client; Validus Wealth will treat it as fresh purchase transaction and request AMC/RTA to allot a fresh folio number for the transaction.
  5. That as a holder in an Financial Services Account, the Client, along with other holder(s), if any, shall be bound by any valid transactions, including any transaction that results in new folio, done by any holder(s) of the Financial Services Account in accordance with these Financial Services Terms and Conditions (as if given by each of the holders personally/jointly).
  6. That transaction request shall be sent for processing to RTA/AMC/product provider by Validus Wealth and is subject to acceptance/rejection by the registrar or AMC or other product providers. Rejections if any, may be due to any minimum/maximum or any other transaction processing conditions. Client shall not hold Validus Wealth liable for transaction rejection by RTA/AMC/product providers in case of such rejections.
  7. That emails orders can be sent/confirmed only through registered email id of the Client. The Client understands that the execution of his/her instructions issued otherwise than in physical form or online may be subject to a satisfactory voice verification of such instructions at the discretion of Validus Wealth. The Client also understands that in case voice verification is deemed necessary by Validus Wealth the execution of such instruction would be done on a best effort basis within 1 working day post satisfactory voice verification. Validus Wealth shall not be liable if such additional confirmation could not be completed due to unsatisfactory voice verification.
  8. That for Validus Wealth’s records, any instruction received from any one of the clients (in case of joint holders) through written letter/ form, online, email, facsimile shall be deemed to be the original letter of instructions and all actions based on such instruction taken by Validus Wealth would be binding upon all the Clients.
  9. That with respect to POA transactions, Validus Wealth reserves the right to reject the request in case of non-availability of sufficient funds in the Client’s Validus Wealth account. Also note that In case of Purchase/SIP transactions, Client’s Validus Wealth account might be debited for the total amount instantly on transaction placement and that no interest shall be payable on this amount by Validus Wealth. The Client further acknowledges that any transaction request due on holiday would be processed on the next business day and NAV would be applicable as per the Mutual Fund’s offer document.
  10. That Validus Wealth may in its own discretion decide not to carry out the Client’s instructions where Validus Wealth has reason to believe (which decision of Validus Wealth the Client shall not question or dispute) that the instructions are not genuine or are otherwise improper or unclear or scheme not available or SIP/STP/SWP dates not available or are in a manner that raise a doubt.
  11. That the Client subscribing/redeeming the units of the mutual fund schemes through Validus Wealth shall also have an unfettered and unrestricted right to approach the AMC directly. Acceptance of these Terms and Conditions are voluntary and Validus Wealth shall not mandatorily insist for this mandate for enabling Clients’ investments in Mutual Funds.
  12. That all communications that may be sent by Validus Wealth shall be sent as per communications details available in Validus Wealth’s records.
  13. The Client is entitled to terminate this service by giving 7 days’ notice in writing to Validus Wealth and Validus Wealth shall require at least seven working days for giving effect to the same. The Client agrees not to effect any transactions consequent to the receipt of such termination notice by Validus Wealth provided that the Client shall not be relieved of its obligations hereunder, notwithstanding such termination, incurred prior to the date on which such termination shall become effective. Upon termination of the services, the money and units with Validus Wealth pursuant to thereto may be paid or delivered (as the case may be) by Validus Wealth, after deduction of Validus Wealth’s dues if any, to the Client and the same shall be a valid and complete discharge to Validus Wealth.
  14. I hereby authorize and give consent to Validus Wealth Managers Pvt. Ltd. to send me, either through itself or through any third party service provider, from time to time various information / alerts / SMS / other messages or calls or commercial communication, and other services on the aforesaid listed telephone numbers, whether these numbers are registered with National Do Not Call Registry / listed in Nation Customer Preference Register  or not. I also confirm that by sending any of such messages / calls, I will not hold VWMPL its third party service provider liable / institute complaint under the Telecom Commercial Communications Customer Preference (TRAI) Regulation, 2010 or such other applicable regulations including any amendment thereof, as may be applicable from time to time.

UNDERTAKING CUM-INDEMNITY

  1. As per above mentioned points of Power of Attorney in favour of Validus Wealth where under the Client has appointed Validus Wealth acting through any of its directors and/ or its duty authorised officers, to be the Client’s true and lawful Attorney for and on behalf of the Client to do all or any of the acts, matters and things and to exercise all or any of the powers and authorities thereby conferred through Instructions given by the Client either over the telephone (over a recorded line or otherwise), inwriting ,or through facsimile, or through electronic mail (from or to a specified email address) as approved by Validus Wealth or in any other manner acceptable to Validus Wealth on the terms as set out as mentioned above.
  2. Validus Wealth has agreed to accept the Instructions, subject to the Client executing this Undertaking Cum Indemnity in favour of Validus Wealth.
  3. The details of the specified E-Mail id (s)/Telephone numbers/Mobile numbers/Fax Numbers from which the client will be sending the instructions is as set out in Client Information Form (CIF)/Investment Services Account Registration Form. Any change in the email id will be communicated by the client via written letter. Any change in the telephone number/mobile number/fax number will be communicated by the client via written letter/email id registered with Validus Wealth.

AND IN CONSIDERATION OF THE ABOVE,

the Client hereby (jointly and severally – in case of joint Clients) irrevocably agrees, confirms and undertakes with Validus Wealth and these presents witnesseth as follows:
  1. The Client hereby requests and authorises Validus Wealth to, from time to time (at Validus Wealth’s discretion), rely upon and act or omit to act in accordance with any direction, instructions and/ or other communication which may from time to time be or purport to be given in connection with or in relation to the said POA by either Telephone Call or Fax and/ or E-mail by the Client or any one of them (in case of joint clients) or the person(s) authorised by the Client to act on the Client’s behalf (“Authorised Persons”).
  2. The Client declares and confirms that the client has for the Client’s convenience and after being fully aware of, and having duly considered the risks involved, (which risks shall be borne fully by the Client) requested and authorised Validus Wealth to rely upon and act on Instructions which may from time to time be given by either a Telephone Call and/ or Fax and/ or E-mail as mentioned above.
  3. The Client further declares and confirms that the Client is aware that Validus Wealth is agreeing to act on the basis of Instructions given through either Telephone Call and/ or Fax and/ or E-mail only by reason of, and relying upon, the Client executing this writing and agreeing, conforming, declaring and indemnifying Validus Wealth as done by this writing and Validus Wealth would not have done so in the absence thereof. The provisions of this writing shall apply to any and all matters, communications, directions and instructions whatsoever in connection with the said POA.
  4. Validus Wealth may, but shall not be obliged to, act as aforesaid without inquiry as to the identity or authority of the client or the Authorised Person(s) giving or purporting to give any Instructions or as to the authenticity of any Telephone Call and/ or Fax and/or E-mail message and may treat the same as fully authorised by and binding on the Client regardless of the circumstances prevailing at the time of the Instruction and notwithstanding any error, Misunderstanding, lack of clarity, fraud of authority in relation thereto, and without requiring any confirmation provided that the concern officer acting on behalf of Validus Wealth believed the Instructions to be genuine at the time they were acted upon.
  5. The Client confirms that the Client shall not hold Validus Wealth responsible or liable for any loss on any grounds whatsoever incurred by the Client pursuant Validus Wealth not being able to act on the basis of an Instruction transmitted by Fax or E-mail or Telephone (whether recorded or otherwise) in the event that the Fax/E-mail/Telephonic Instruction or any part thereof is not legible, is garbled, erroneous, self-contradictory, incomplete or unclear.
  6. The Client acknowledges that
    1. sending information by Fax or E-mail is not a secure means of sending information; and
    2. the Client is aware of the risk that Fax/ E-mail Instructions may be fraudulently or mistakenly written, altered or sent or not be received in whole or in part by the intended recipient or may be read or be known to an unauthorized person in which case Validus Wealth shall not be responsible in any manner whatsoever including but not limited to breach of confidentiality.
  7. Upon receipt by Validus Wealth, Instructions shall be deemed to conclusively constitute client’s mandate, subject to the right of Validus Wealth as herein contained, to Validus Wealth to act in accordance with the directions and Instructions contained therein notwithstanding that such Instruction may have been authorised or transmitted in error or fraudulently or may otherwise not have been authorised by or on behalf of the Client or the Authorised Person(s) or may have been altered, misunderstood or distorted in any manner in the course of communication.
  8. The Client is aware that Validus Wealth may be receiving either of the following:
    1. Telephone Call which may be distorted due to problems in telecommunication;
    2. Fax on thermal paper in which case by reason of chemical compositions of thermal paper, the writing/Instruction on the fax/fax paper may disappear after a short period; or
    3. E-mail, which may disappear/get damaged making the same incapable of being read/viewed due to computer failure/malfunction and/or any other reasons. In all such cases the Client hereby confirms that the same shall be at the client’s risk and Validus Wealth shall not be obliged to take any precaution by (a) recording the Instructions given over the telephone and (b) making or preserving a photocopy of such Fax or otherwise and (c) making/ taking printouts of E-mail and preserving a hard copy of such e-mail or otherwise. Without prejudice to the above, if Validus Wealth makes of any recording of the Telephone Call/makes a photocopy/takes printout of such Fax and/or E-mail respectively then, the Client agrees that such recording/photocopy/ print-out shall be conclusive and binding upon the Client notwithstanding that the same is a recording of the Telephone Call/photocopy/print out of the Fax and/or E-mail.
  9. Validus Wealth may at any time withdraw the facility of giving Instructions through either a Telephone Call and/ or Fax and/ or E-mail altogether or in respect of the said POA and/ or related matters by giving prior written intimation of 7 days in this behalf. However, any such termination shall not affect anything done or any rights or liability accrued or incurred prior to the termination and all the above indemnities given by the Client to the Validus Wealth hereunder shall survive any such termination.
  10. If the Client desires to discontinue giving Instructions through either Telephone Call and/ or Fax and/ or E-mail as provided in this writing, the Client shall deliver to Validus Wealth prior written request of seven days (7) in this behalf. Such notice of discontinuation shall bind the Client forthwith upon the request being given by the Client. However, such request of discontinuation shall not be effective as against Validus Wealth until Validus Wealth has acknowledged in writing to the Client that it has received the request. Provided that such discontinuation shall not release the Client from the terms of this writing in respect of any action taken or omitted to be taken by Validus Wealth in accordance with the Instructions or directions contained in any Instruction or the terms of this writing prior to such acknowledgement by Validus Wealth. PROVIDED that such discontinuation shall not release the Client from the terms of this writing in respect of any action taken or omitted to be taken by Validus Wealth in accordance with the Instructions or directions contained in any Instruction or the terms of this writing prior to such acknowledgement by Validus Wealth.
  11. In consideration of Validus Wealth acting and/or agreeing to act pursuant to the terms of this writing and/ or any Instructions as provided in this writing, the client hereby agrees to indemnify Validus Wealth, its employees, Directors and Affiliates and keep Validus Wealth at all times saved, harmless and Indemnified from and against all actions, suits, proceedings, costs, claims, demands, charges, expense, direct, indirect or consequential losses and liabilities howsoever arising and incurred. suffered or paid by Validus Wealth or required to be incurred, suffered or paid by Validus Wealth in consequence of or in any way related to:
    1. Validus Wealth having acted or omitted to act in accordance with or pursuant to any Instruction or the terms of this writing. or
    2. Any Instructions received by/given to Validus Wealth which it believes in good faith to be such Instructions.
  12. The protection available to Validus Wealth under this writing shall be in addition to any protection available to Validus Wealth under any other provision of law or agreement to which Validus Wealth may otherwise be entitled. This is also without prejudice to Validus Wealth’s other rights, privileges, powers and remedies in law and Validus Wealth may delay enforcing its rights without at any time losing them and waiver of a right by Validus Wealth hereunder available to it by law shall not be deemed to be a waiver of any other rights or of the same right at another time.
  13. The Client hereby specifically agrees and confirms that any matter or issue arising hereunder shall be governed by and construed exclusively in accordance with the laws of the Republic of India and shall be subject to the jurisdiction of the courts of Mumbai.