I/we do hereby agree and accept to be bound by the terms and conditions mentioned below as applicable for availing AutoInvest/Celebrations SIP – Systematic Investment Order online through my/our trading accounts maintained with Kotak Securities Limited (KSL). These Terms and Conditions, along with the terms of the,, Additional Terms and conditions applicable to the Client for availing securities trading services from Kotak Securities Limited, Voluntary Internet Trading Terms & Conditions, Running account authorization, Power of Attorney executed by the Client in favour of Kotak Securities Limited and contents of Risk Disclosure Document, Rights and Obligations, Policies and procedures, tariff sheet, guidance note etc form the contract between the Client and Kotak Securities Limited for availing of the Service.
Under this service, Kotak Securities Limited will place order on behalf of the Client in the Client’s trading account to purchase securities of such predetermined quantities or amounts on such intervals as instructed vide AutoInvest/Celebrations SIP Instruction Form or Place AutoInvest Order/Dedicate a Celebrations SIP section in the website.
The Client can avail AutoInvest/Celebrations SIP either on the basis of Quantity or Amount. The placement of order by Kotak Securities Limited as envisaged herein above shall be subject to availability of sufficient funds / limits to meet the contractual obligations arising out of such order.
Placement of order in case of Quantity based AutoInvest/Celebrations SIP – The Client shall specify the quantity of securities that he/she/they wishes to buy at each order placement. The order value of AutoInvest/Celebrations SIP under this option may vary with each order placement depending on the price of the security prevailing in the Exchange at the time of placement of Quantity based AutoInvest/Celebrations SIP order.
Placement of order in case of Amount based AutoInvest/Celebrations SIP – The Client shall specify the amount, subject to the Minimum Participation Amount specified by Kotak Securities Limited from time to time on its website www.kotaksecurities.com, for which each order will be placed at the time of start date . In this case, the number of securities for the purpose of placing order under the Service will be calculated by dividing AutoInvest/Celebrations SIP amount with the last traded price of such security. Any fractional quantity will be ignored and order will be placed for nearest smaller Whole Number. The Number of securities bought under this option, may vary with each order placement depending on the price of the security prevailing at the time of placement of the AutoInvest/Celebrations SIP order.
The choice of time for placement of AutoInvest/Celebrations SIP order on the Exchange platform on the each frequency day shall be at the discretion of Kotak Securities Ltd.
Without prejudice to any other provisions of these Terms and Conditions, Kotak Securities Limited shall not be liable to the Client for any loss or damage whatsoever or howsoever caused arising directly or indirectly whether for consequential loss or damage or loss of profit, business, revenue, goodwill or anticipated savings which may arise in respect of the Service or arising out of the performance of the Services or otherwise.
Kotak Securities Limited shall not be liable for any failure to perform any of its obligations under this Agreement if the performance is prevented, hindered or delayed by a Force Majeure Event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure Event continues. "Force Majeure Event" means any event due to any cause beyond the reasonable control of Kotak Securities Limited, including without limitation, unavailability of any communication system, breach or virus in the processes, 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 control and may result in delay in processing or not processing AutoInvest/Celebrations SIP orders either in part or in full, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, un-authorised access to computer data and storage devices, computer crashes, etc.
Kotak Securities Limited, at its sole discretion, is entitled to amend/modify/alter the aforesaid Terms and Conditions and such amendment/modification/alteration be displayed on www.kotaksecurities.com to intimate such amendment/modification/alteration to the Client. The continued use of the Website by the Client shall be deemed to be an acceptance by the Client of the amended/ modified/altered Terms and Conditions. The Service is in addition to the existing products and services provided by Kotak Securities Limited. Availing this Service by the Client does not bar the Client from availing other products and services offered by Kotak Securities Limited.