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TERMS AND CONDITIONS

OVERVIEW

This website is operated by BRIGHT VISION INVESTMENT SERVICES PVT. LTD. (hereinafter referred to as “BVIS” or “the INVESTMENT ADVISOR) Throughout the site, the terms “we”, “us”, “our”, “BVIS”, and “Investment advisor” refer to BRIGHT VISION INVESTMENT SERVICES PVT. LTD. who offers this website, including all information, tools and services available from this site to client, the user, conditioned upon client’s acceptance of all terms, conditions, policies and notices stated here.

By visiting our site and/ or purchasing something from us, client engage in our “Service” and agree to be bound by the following terms and conditions (“Terms of Service”, “Terms”), including those additional terms and conditions and policies referenced herein and/or available by hyperlink. These Terms of Service apply to all users of the site, including without limitation users who are browsers, vendors, customers, merchants, and/ or contributors of content.

Please read these Terms of Service carefully before accessing or using our website. By accessing or using any part of the site, client agree to be bound by these Terms of Service. If client do not agree to all the terms and conditions of this agreement, then client may not access the website or use any services. If these Terms of Service are considered an offer, acceptance is expressly limited to these Terms of Service.

Any new features or tools which are added to the current site shall also be subject to the Terms of Service. you can review the most current version of the Terms of Service at any time on this page. We reserve the right to update, change or replace any part of these Terms of Service by posting updates and/or changes to our website. It is your responsibility to check this page periodically for changes. you continued use of or access to the website following the posting of any changes constitutes acceptance of those changes.

Advisory

In this Agreement, unless otherwise defined, the following terms shall have the meaning as follows:

Portfolio means the Securities held by the Clients pursuant to investments made on the advice of the Investment Advisor under this Agreement;

Investment Plan shall mean the investment plan structured by the Investment Advisor pursuant to this Agreement;

Funds shall mean the monies deployed by the Client towards investments suggested by the Investment Advisor under this Agreement;

Regulations shall mean the SEBI (Investment Advisor Regulations) 2013 issued by the Securities and Exchange Board of India;

Securities shall mean all the securities as defined in Sec 2(h) of Securities Contract (Regulation) Act, 1956.

  1. APPOINTMENT: 

The Client hereby appoints the Investment Advisor to provide financial planning services and advice on investing in, purchasing, selling or otherwise dealing in Securities or investment products, and advice on investment portfolio containing Securities under the terms and conditions of this Agreement.

  1. SCOPE OF SERVICES: 

The services under this Agreement shall be restricted to the following scope:

3. CLIENT’S OBLIGATIONS

3.1.  If we provide client with any recommendations or advice in relation to Investments, client shall not disclose any such recommendations or advice provided by us pertaining to the purchase and sale of Securities to any third party and we shall not be responsible for any Losses that may be suffered by such party as a result of the disclosure of such recommendations or advice by client. No third party shall place any reliance on the information furnished to client. Any recommendations or advice provided is exclusively for clientr knowledge and use, subject to the extent otherwise permitted herein. Client shall not disclose the source of information to any third party, except to relevant governmental and/or statutory authorities on demand. 

3.2.  Client confirm that he/she understand the risks involved in investing in Investments including Securities. 

3.3.  Client agree to provide any information we may reasonably request from time to time, in order to enable us to perform our Services under the Terms and Conditions or comply with any laws, regulations and policies (including, “know your client” regulations/policies). Client undertake to notify us promptly of any material change to information provided by client to us in connection with the Advisory Services Application Form, any other Service Application Form(s) or client’s Accounts or Investments purchased by client, including any change in the details stated in Client Profilers. Client understand and accept that failure to do so may adversely affect the quality of the advice or recommendations or any Service envisaged in the Terms and Conditions. An illustrative list of factors that may materially impact our ability to render Services effectively are as follows: i. Any change in circumstances that may lead to a change in client’s risk appetite or risk tolerance; ii. Client’s investment objectives including time for which client wish to stay invested; iii. The purposes of the Investments; iv. Any restrictions or preferences that client may wish to specify in respect of the nature or manner of Investments or on any particular security/sector; v. Client’s income details; vi. Client’s liabilities details; and vii. Client’s existing Investments and assets including those not advised by us.

3.4. Client understand and acknowledge that if client do not follow our recommendation or advice or where client have imposed any restrictions or specified any preferences in respect of the nature or manner of Investments or on any particular security/sector, then client may not achieve client’s investment objectives and that the performance of client’s Assets may be negatively impacted. 

3.5. Client acknowledge that our Services does not provide execution services and client shall at client’s discretion, judgment and opinion choose the Intermediary through whom client wish to execute our advice or recommendation. Client acknowledge and confirm that for the purposes of executing such advice or recommendation client shall accordingly contract with such Intermediary on a principal to principal basis. 

3.6. (a) Client consent to advisory account(s) to be opened by us in client’s name for the purpose of recording information pertaining to client’s financial circumstances and investment objectives including details of client’s Assets that client have disclosed to us for rendering Services envisaged under the Terms and Conditions and/or for recording Assets acquired under our advice or recommendation. Client understand that an Account is merely a means to segregate the Assets and/or transactions recorded by us in the manner we consider appropriate and are for administrative purposes only. (b) Where Assets disclosed to us pursuant to sub-clause (a) above are held by client jointly with one or more persons, client consent to the Account(s) to be opened in the name of the first named holder of such Assets. (c) Notwithstanding sub-clauses (a) and (b) above, client agree and accept that client along with the other joint owner(s), where applicable, shall be responsible and liable for the physical custody of the Assets. Client understand and accept that the Account(s) opened by us are not for the purpose of custody of the Assets and we are not responsible for holding the Assets in our custody.

4. MAINTENANCE OF CLIENT’S RECORDS AND STATEMENT OF ACCOUNTS 

4.1 In respect of client’s Account(s) with us, we will maintain records of Assets and/or transactions in respect of which we have provided advice. Where any transactions have been executed through other Investment advisors or other Associates, client authorize us to receive such information from such other advisor or Associate to enable us to update our record of client’s Assets.

4.2 We may, but not obliged to do so, at client’s request maintain a record of whole or part of client’s Investments held with service providers other than us and hereinafter collectively referred to as “Held-Away Assets”.  

4.3 Unless otherwise agreed by us in writing or required by law, client agree that with respect to the statements or reports that we may provide to client, we have the discretion to consider such parameters, make such assumptions and prepare in such format as we deem fit. 

4.4 Client confirm that client have or shall authorize intermediaries who hold and/or manage and/or facilitate transactions with respect to the Held-Away Assets to share with us relevant records of client’s holdings and transactions, and where we have agreed to maintain a record of client’s Held-Away Assets under Clause 4.1 above, client instruct us to, without any further verification or action on our part, consider the record of client’s Held-Away Assets disclosed to us by the intermediaries. 

4.5 Where client are in receipt of client’s Account statements from any of our  Associates for transactions undertaken through them and/or Assets managed by them, we may not include these Assets in our Account statement to client even if we have provided our Services in relation to these Assets. Client authorize us to disclose information we have in relation to such Assets to our Associates to enable them to include such information in the Account statements issued by them to client. We may assume, unless client notify us of any error or omission in client’s Account statement issued by us within 30 days of receipt of the Account statement, that the contents of such statement are correct.

4.6 Where client have requested us to include client’s Held-Away Assets in client’s statement of Accounts, client authorise us to share client’s records maintained with us with our Associates, as may be permitted by applicable regulations.

4.7 We may, at client’s request but we are not obliged to, benchmark (where applicable and practicable) the performance of the Assets including Held-Away Assets against a benchmark index as mutually agreed. Client understand and accept that the benchmark index may not be truly representative of the Advisory Services rendered by us for various reasons including without limitation: (a) the number of Securities may be different in comparison to the benchmark index and (b) the weightages of individual Securities may vary from weightages in the benchmark index. We may from time to time, review the benchmark selection process and make suitable changes as to use of the benchmark, or related to composition of the benchmark.

5. OUR LIABILITY AND RESPONSIBILITIES TO THE CLIENT

5.1 We will attend to Client’s affairs with due care and diligence, but we will not be liable for the performance or profitability of Investments we recommend for the client. All decisions in relation to Investments are based on client’s own evaluation of their financial circumstances and investment objectives. Any decision, action or omission to buy, sell or hold Investments shall be based solely on his/her own verification and a proper evaluation of all the relevant facts, financials and other circumstances and neither we nor any of our employees, officers, directors, personnel, agents or representatives or Associates shall be responsible or held liable for the same for any reason whatsoever. The Client is aware that the value of the Investments could substantially depreciate to an unpredictable extent. 

5.2 Where we, have agreed to provide the client with advice or recommendation with respect to any Investment, we shall adhere to the following responsibilities and obligations determined by the Regulations: (a) We shall act in a fiduciary capacity and shall disclose all conflicts of interests as and when they arise and where appropriate, obtain your consent; (b) We shall not receive any consideration by way of remuneration or compensation or in any other form from any person other than the concerned depository or fund, in respect of the underlying products or Securities for which advice is provided; (c) We shall maintain an arms-length relationship between our activities as an Adviser  (e) We shall abide by the Code of Conduct as specified in Third Schedule to the SEBI (Investment Advisers) Regulations,2013 as may be amended, supplemented or replaced from time to time; 

5.3 The Client confirm that they are aware that Securities are subject to a very wide variety of risks which include amongst others (and by way of illustration) an unpredictable loss in value which may extend to a total loss of value of the Securities due to, inter alia: 

(a) overall economic slowdown, unanticipated corporate performance, environmental or political problems, changes to monetary or fiscal policies, changes in government policies and regulations with regard to industry and exports; 

(b) acts of force majeure including nationalisation, expropriation, currency restriction, measures taken by any government or agency of any country, state or territory in the world, industrial action or labour disturbances of any nature, boycotts, power failures or breakdowns in communication links or equipment (including but not limited to loss of electronic data) international conflicts, violent or armed actions, acts of terrorism, insurrection, revolution, nuclear fusion, fission or radiation, or acts of God, default of courier or delivery service or failure or disruption of any relevant stock exchange, depository, clearing house, clearing or settlement systems or market, or the delivery of fake or stolen securities; 

(c) de-listing of Securities or market closure, relatively small number of scrip accounting for a large proportion of trading volume; 

(d) limited liquidity in the stock markets impeding readjustment of portfolio composition; 

(e) volatility of the stock markets, stock market scams, circular trading of securities and price rigging; 

(f ) default or non-performance of a third party, company’s refusal to register a Security due to legal stay or otherwise and disputes raised by third parties; and 

(g) low possibilities of recovery of loss due to expensive and time consuming legal process and any changes in the Securities and Exchange Board of India (SEBI) rules and regulations and other applicable laws governing the Terms and Conditions.

6. RISK MANAGEMENT

6.1. Third Party Risk:

6.2. Risk Acknowledgment:

6.3. Market and Other Related Risks:

The Client expressly agrees and acknowledges that all investments are subject to market and other related risks and there is no assurance or guarantee, whether directly or indirectly, that the value of or return on investments will always be accretive, and that it could depreciate to an unpredictable extent. The Client further agrees and acknowledges that the details of risk foreseen by the Investment Advisor and risk relating to the Securities recommended by the Investment Advisor for investment or disinvestments includes but is not restricted to the following:


The Client understands that the following specific risks may arise in the context of Investment in Derivatives:

7. DEATH OR DISABILITY OF CLIENT

In the event of death, disability of a Client during the continuation of the Agreement and on receipt of notice in writing of such an event, BVIS shall cease operations of such Client and the agreement shall stand terminated with effect from the date of notification of such an event. The complete details of client’s portfolio shall be disclosed  to the nominee or the Legal heirs of the client. 

8. TERMINATION:

9. CONFIDENTIALITY: 

The Investment Advisor agrees to handle all information provided by the Client with utmost care and confidentiality in accordance with applicable regulations and prescribed industry standards. However, if required by an appropriate government authority or by the Regulations, the Investment Advisor may have to divulge said confidential information but agrees to provide appropriate notice to the Client before doing so.

10. NON-EXCLUSIVITY: 

The Parties agree that the relationship arrangement enshrined under this Agreement is based on non-exclusivity of services. The Client is free to obtain any legal, accounting, and any other financial services from any professional source to supplement and to implement the recommendations of the Investment. The Client will retain absolute discretion over all investment and implementation decisions.

11. CONFLICT OF INTERESTS: 

The Client also understands that BVIS may take action in performing their duties to other clients, or for their own accounts, that differ from Investment Transaction opportunities or usage of different Investment Platforms as provided to the Client. BVIS is not obligated to provide different Investment Transaction opportunities or usage of different Investment Platforms for the Client which BVIS may provide to other Clients or for its own accounts. This Agreement does not limit or restrict in any way BVIS from buying, selling or trading in any security or other investments for their own accounts, subject to compliance with the Regulations.

12. ASSIGNMENT: 

Neither BVIS nor the Client shall have the right or power to assign this Agreement or parts thereof, without the express written consent of the other Party. In the event of the merger, dissolution or termination of either Party, the Parties agree that either Party may assign to a successor entity any rights, obligations and functions it may have remaining under this Agreement.

13. NOTICE: 

Any notice, demand or other communication to be made under or in connection with this Agreement shall be made in writing unless otherwise stated. Such notice, demand, request or other communication shall be deemed to have been duly given or made when it shall be (i) delivered personally; or (ii) sent by facsimile; or (iii) sent by registered mail with acknowledgement due, postage prepaid or courier; or (iv) sent by email (provided that the email is followed up with a copy by any of the aforesaid modes) to the addresses as mentioned above.

14. ARBITRATION AND DISPUTE RESOLUTION:

Any dispute in connection with the interpretation, performance, termination of this Agreement, or otherwise in connection with this Agreement (“Dispute”) shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, as may be amended from time to time, or any re-enactment thereof, by a sole arbitrator to be mutually appointed by both Parties. The arbitration proceedings shall be conducted at Chennai, in the English language. The arbitration award in respect of a Dispute shall be final and binding on the Parties, and enforceable in accordance with its terms. The arbitrator shall state reasons for his / her findings in writing. The Parties agree to be bound thereby and to act accordingly.

15. GOVERNING LAW AND JURISDICTION:

The terms & Conditions of this Agreement shall be governed by the Laws of India. The Parties agree that the courts in Chennai shall have exclusive jurisdiction over any dispute arising out of this Agreement.