Aditya Birla Commodities Broking Limited

Transcription

1 Aditya Birla Commodities Broking Limited To be mandatorily filled by branches / Sub Brokers / Authorised Persons Name of the Branch / SB / AP Branch / SB / AP Code Introducer Details: TWS Terminal ID Introducer (Please 3 Tick) Branch Franchisee - SB/AP DSA / CP Branch Employee Code DSA / CP Code ABMML Employee Code ABMML Employee Name Account Type : ABMML Trading & Demat Only Trading Only Demat Others Account Mode (Please 3 Tick) Offline Online Scheme (Please 3 Tick) Normal Empower Trader Margin (above Rs. 50,000) Corporate Others Internet A/c : Branch CnT Desk I Decide : Branch CnT Desk Verified by - Account Opening Department : Name : Signature : 1

2 Aditya Birla Commodities Broking Limited Registered Office : Indian Rayon Compound, Veraval, Gujarat Corporate Office : Ali Centre, No. 53, Greams Road, Chennai Telephone : / 03 Fax : INDIVIDUAL CLIENT REGISTRATION APPLICATION FORM THE NATIONAL SPOT EXCHANGE LIMITED No CLEARING MEMBER (Spot Commodity Segment) Aditya Birla Commodities Broking Limited Address : Ali Centre, 53, Greams Road, Chennai TRADING CODE Account Type (Please 3 Tick) Offline Online Affix latest passport size Photograph (Please Sign accross the Photograph) I request you to open a trading account in my name as per the following details : Exchange : NSEL Market Segment : SPOT APPLICANT / FIRST HOLDER (Name to be entered as it appears in PAN) Applicant Name / First Holder Father s / Spouse Name Gender : Male Female Marital Status : Married Single Date of Birth - - Nationality Status : Resident Individual Non Resident Forign National PAN: Unique Identification Number (UID) /Aadhaar, If any: ADDRESS FOR COMMUNICATION Flat / House No. Bldg. / Society Name Street No. / Name Landmark ( if any ) Area / Locality City / Town / Village Pincode State Tel. Number Country STD Code Residence Mobile 2

3 INTRODUCER DETAILS (COMPLETE DETAILS TO BE FILLED) Introducer - Surname : - Name : - Middle Name : Full name of Introducer s Father / Husband Address of Introducer : Flat / House No. Bldg. / Society Name Landmark ( if any ) Area / Locality City / Town / Village Pincode State Tel. Number Country STD Code Residence Mobile STD Code Relationship of introducer with Member Fax Client / Client Code Employee of Broker Remisier Authorised Person Sub Broker Others (Please Specify) PAN of Introducer, if any Identity details of Introducer Date of Issue - - Place of Issue x BANK ACCOUNT DETAILS Signature of Introducer Bank Account No Bank Name Bank Branch Name Bank Account Type MICR Number IFSC Code Bank Address City (Incase of Multiple Bank Accounts please furnish details as Annexure) Pincode 3

4 BENEFICIARY (DP) ACCOUNT DETAILS DP NAME DP ID DP Account No. A/c type Address Sales Tax Registration Details: (If applicable) Local Sales Tax No. : Dated - - Central Sales Tax : Regn. No. : Dated - - The information furnished above is true to the best of my knowledge and belief. I undertake to inform changes in any of the above points in writing immediately to the Exchange. I enter into agreement to abide by all the terms and conditions of the Exchange. Place x 1 Date - - Signature of the applicant For Branch Office Use only Branch Name Branch ID Client interviewed & documents verified by Authorised by Signature Signature Name Name Employee Code Employee Code (Should be authorised only by Branch Manager / Branch Incharge / Authorised Person) For Head Office Use only Client Code Date of Receipt Date of Enrollment Scrutinized by Name Signature Employee Code Entered by Name Signature Employee Code Verified by Name Signature Employee Code 4

5 This agreement is made at Chennai this day of by and between, Aditya Birla Commodities Broking Limited a company duly formed and registered under the Companies Act, 1956 hereinafter called MEMBER OF THE EXCHANGE, having its registered office address at Indian Rayon Compound, Veraval, Gujarat and a company / firm / individual or any other body duly formed and registered under the Relevant Act, hereinafter called CLIENT, having its registered office address at Witnessth: Whereas the member is registered as MEMBER OF THE NATIONAL SPOT EXCHANGE LIMITED (hereinafter called (NSEL). Whereas the CLIENT is desirous of trading in those contracts admitted for dealing on NSEL as defined in the Bye - Laws, Rules and Business Rules of NSEL. Whereas the CLIENT has satisfied himself of the capability of the MEMBER OF THE EXCHANGE to deal in those contracts admitted for dealing on the NSEL and wishes to execute his orders through him and the CLIENT shall continue to satisfy him of such capability of the MEMBER OF THE EXCHANGE before executing any orders through him. Whereas the MEMBER OF THE EXCHANGE has satisfied and shall continuously satisfy himself about the genuineness and financial soundness of the CLIENT and trading objectives relevant to the services to be provided. Whereas the MEMBER OF THE EXCHANGE has taken steps and shall take steps to make the CLIENT aware of the precise nature of the MEMBER liability for business to be conducted, including any limitations on that liability and the capacity in which it acts. In consideration of handling transactions carried out on the NSEL, THE CLIENT understands the following risks disclosed by the Member and states as follows: A. I / We understand that the spot trading involves daily settlement. Every day the net outstanding position (whether purchase or sale) at the end of the day shall result into compulsory delivery. I/We shall ensure that the commodities are as per the contract specifications of the Exchange and within tolerance limits set out in the contract specification and such commodities are delivered at the designated warehouse of the Exchange before the scheduled pay-in time fixed by the Exchange. I/We further understand that in case of failure on my part to deliver the specified commodity at the specified delivery center within the specified time set by the Exchange, such commodities shall be procured by the Exchange through auction procedure at my cost and risk. I / we shall be liable to MEMBER - CLIENT AGREEMENT Signed on behalf of the Member : Client : For Aditya Birla Commodities Broking Limited make good of such losses that may be recovered from the members by the Exchange on my account. B. I / We understand that in case of my liability of funds pay-in position, I shall ensure transfer of funds to the members account well before the schedule pay-in time to enable the member to meet his funds pay-in obligation on my account. I/We further understand that in case of failure on my/our part to pay/transfer funds before the scheduled pay-in date, the commodities purchased by the member on my account may be auctioned by the Exchange/sold by the Member at my cost and risk. I / We shall be liable to make good of such losses that may be recovered from/suffered by the members on my account. C. I / We hereby authorize the member to execute all my written/verbal order for purchase and sale of commodities and comply with the Sales Tax/ VAT/ CST related liabilities on my behalf. I / we irrevocably authorize the member to recover all the dues from my account against sales tax and other liabilities that may arise in the course of executing my orders on the Exchange platform. I further undertake that the member shall be authorized to take all actions for compliance with the VAT regulations. D. I / We understand that my purchase and sales positions shall be marked to market at and of the day of transaction based on the closing price of commodities. I / We shall be required to deposit the amount of loss (notional) resulting from such closing price (if any). This margin will have to be paid within a stipulated time frame, generally before commencement of trading next day. E. If I / we fail to deposit the additional margin by the deadline or if an outstanding debt occurs in my account, the Member of the Exchange may liquidate a part of or the whole position or substitute commodities. In this case, I / we shall be liable for any losses incurred due to such close outs. F. My order for purchase or sale of any commodity may not be executed when there are insufficient bids or offers or suspension of trading due to price limit or circuit breakers etc. G. In order to maintain market stability, the Exchange may change the margin rate, increases in the cash margin rate or others. These new measures may be applied to the existing outstanding position, which are yet to be settled. In such conditions, I / We shall be required to put up additional margins against my positions. H. I / We shall ask my Member of the Exchange to provide the full details of the spot contracts before I / WE plan to trade i.e. the contract specifications and the associated obligations. I. Before trade, I / We shall obtain a clear explanation of all commission, fees and other charges for which I / We will be liable. J. The Exchange offers electronic trading facilities, which are computerbased systems for order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. The execution of my orders shall be subject to limits on liability imposed by the system provider, the market, the Clearing House and/or Member of the Exchange. Authorised Signatory MEMBER x 2 5

6 In view of the above, I / WE agree that 1) I / WE am aware of the risks stated above and understand the trading & risks involved in the trading through the Electronic spot Exchange and am fully responsible for my dealings in this Exchange platform. 2) I / WE shall be bound by the Bye-Laws, Rules, Business Rules, and Customs of the NATIONAL SPOT EXCHANGE LIMITED and the Clearing House of the Exchange. 3) I / WE shall deposit monies, Warehouse Receipts or other property, which may be required to open and carry out the transactions in my account with you as my agent at the capacity of the Member of NSEL and I / WE being your client. 4) I / WE shall not, acting alone or in concert with others, directly or indirectly, hold and control or create excess position than what is permitted from time to time by the Exchange or any other authority. 5) All monies, Warehouse Receipts or other property, which you may hold on my account, shall be held subject to a general lien for the discharge of my obligations to you under this agreement. 6) I / WE hereby authorize you at your discretion, should you deem it necessary for your protection to buy, sell or close out any part or all of the contracts held in my account with you. I / WE will reimburse any or all such incidental expenses incurred by you. Now, THEREFORE, in consideration of the mutual understanding as set forth in this agreement, the parties thereto have agreed to the terms and conditions, as follows: 1. The agreement entered into between the Member and the CLIENT shall stand terminated by mutual consent of the parties by giving at least onemonth notice to each other. Such termination shall not have any effect on the transactions executed before the date of notice of termination and the parties shall enjoy same rights and shall have same obligations in respect of such transactions. 2. In the event of the death or insolvency of the CLIENT or his otherwise becoming incapable of receiving and paying for or delivering or transferring Commodities which the CLIENT has ordered to be bought or sold, the Member may with the approval of the Exchange, close out the transaction of the CLIENT and the CLIENT or his legal representative shall be liable for any losses, costs and be entitled to any surplus which may result there from. 3. All trades, transactions and contracts are subject to the Rules, Bye Laws and Business Rules of the Exchange and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of MUMBAI for the purpose of giving effect to the provisions of the Rules, Bye - Laws and Business Rules of the Exchange. In WITNESS THEREOF, the parties to agreement have caused these presents to be executed as of the day and year first above written. Signed on behalf of the Member : Client : For Aditya Birla Commodities Broking Limited Authorised Signatory MEMBER Signature Name x 3 Witness (1) Signature Name Address Witness (2) 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. 6

7 WHEREAS: The Client is a client/constituent of the Member, and the Member and the Client have entered into a Member-Client Agreement in accordance with the model agreement prescribed by National Spot Exchange Limited ( the Main Member-Client Agreement ); The Member offers and/or proposes to offer Internet Trading Services (ITS) to its clients; and the Client desires to avail of the Member s ITS for purchasing, selling or otherwise dealing in commodities; The Member and the Client desire to enter into this Supplemental Agreement to the Main Member-Client Agreement in order to record the agreement between them relating to the Member s ITS to be availed of by the Client. The member and the client agree as follows: Definitions: CLAUSES PERTAINING TO INTERNET TRADING In this Agreement (including the Recitals above), unless the context otherwise requires the following words shall have the following meanings: the Exchange means the National Spot Exchange Limited and includes all the segments of the Exchange. Exchange Provisions means the Rules, Bye-laws, Regulations, Business Requirement, Specifications, handbooks, notices, circulars and resolutions of the Exchange or any segment of the Exchange in force from time to time and includes the Minimum Requirements Handbook for ITS prescribed by the Exchange, as amended from time to time. ITS means Internet based Trading Through Order Routing System, being a system approved by the Exchange for enabling clients to route their orders to their Member/s over the internet. ITS Account Application means the application submitted by the Client to the Member to permit the Client to avail of the Member s ITS. Service means the service offered by the Member to its clients through ITS whereunder the clients can route their orders for purchase, sale and other dealings in commodities through the Member s ITS System. Member s ITS Website means the web site hosted by the Member on the internet through which the Member offers the ITS and includes the hardware and software used for hosting and supporting the Website. Password means an alphanumeric code used by the Client to validate his/ her username and access the Service. NSEL or Exchange means the National Spot Exchange of India Limited. Username means an alphanumeric login identification used by the Client for accessing the Service. In this Agreement, headings are used for convenience and ease of reference only and shall not affect the construction or interpretation of any provision of this Agreement. In this Agreement, unless the context otherwise requires, reference to the singular includes a reference to the plural and vice-versa, and reference to any gender includes a reference to all other genders. In this Agreement, unless the context otherwise requires, references to Recitals and Clauses shall be deemed to be a reference to the recitals and clauses of this Agreement. References to any enactment are to be construed as referring also to any Signed on behalf of the Member : Client : For Aditya Birla Commodities Broking Limited amendment or re-enactment thereof and to any rule, bye-law, regulation, business requirement, specification, order or other provision made under it. AGREEMENT TO PROVIDE AND AVAIL OF THE ITS: The Member agrees to provide the Member s ITS to the Client, and the Client agrees to avail of the Member s ITS, on and subject to the terms and conditions of this Agreement, the Exchange Provisions and the terms of the Member s ITS Web Site. USER NAME AND PASSWORD: The Client will be entitled to a username and password, which will enable him to access the Member s ITS for availing of the Service. The Client is aware that the Member s ITS System itself generates the initial password and that the Member is aware of the same. The Client agrees and undertakes to immediately change his initial password upon receipt thereof. The Client is aware that subsequent passwords are not known or available to the Member. 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 ITS System using the Client s Username and/or Password whether or not such person was authorised to do so. The client is also aware that authentication technologies and strict security measures are required for the internet trading through order routed system and undertakes to ensure that the password of the client and/or his authorised representative are not revealed to any third party. The Client shall immediately inform the Member of any unauthorised use of the Client s Username or Password with full details of such unauthorised use including the date of such unauthorised use, the manner in which it was unauthorisedly used, the transactions effected pursuant to such unauthorised use, etc. The Client acknowledges that he is fully aware of and understands the risks associated with availing of a service for routing orders over the internet including the risk of misuse and unauthorised use of his Username and/or Password by a third party and the risk of a person hacking into the Client s account on the Member s ITS System and unauthorisedly routing orders on behalf of the Client through the System. The Client agrees that he shall be fully liable and responsible for any and all unauthorised use and misuse of his Password and/ or Username and also for any and all acts done by any person through the Member s ITS System on the Client s Username in any manner whatsoever. The Client shall log off from the ITS Service at any time the Client is not accessing or using the Service and any liability incurred to the Client as a consequence of the Client not logging off the Service shall borne solely by the Client. Without prejudice to the provisions of Clause 3.5, the Client shall immediately notify the Member in writing with full details if : he discovers or suspects unauthorised access through his Username, Password or account, he notices discrepancies that might be attributable to unauthorised access, he forgets his password or he discovers a security flaw in the Member s ITS System. Authorised Signatory MEMBER x 4 7

8 In any of the above events specified in Clause 3.7, the Client shall immediately change his Password. However, if the Client is unable to change his Password by reason of his having forgotten his Password or his Password having been unauthorisedly changed by some other person or for any other reason then the Client shall immediately request the Member in writing to discontinue his old Password; and thereupon the Member shall cause the Member s ITS System to discontinue the use of the Client s old Password and the Member s ITS System shall generate a new Password for the Client which shall be communicated to the Client. At no point in time shall the Member be liable for any loss, whether notional or actual, that may be suffered by the Client on account of the misuse of the Password. TRANSACTIONS AND SETTLEMENTS: All orders for purchase, sale or other dealings in commodities and other instructions routed through the Member s ITS System via the Client s Username shall be deemed to have been given by the Client. The orders and instructions and all contracts and transactions entered into pursuant thereto and the settlement thereof will be in accordance with the Exchange Provisions. The Member may from time to time impose and vary limits on the orders which the Client can place through the Member s ITS System (including exposure limits, turnover limits, limits as to the number, value and/or kind of commodities in respect of which orders can be placedetc.). The Client 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 Client of such variation, reduction or imposition in advance. The Client agrees that the Member shall not be responsible for such variation, reduction or imposition or the Client s inability to route any order through the Member s ITS System on account of any such variation, reduction or imposition of limits. The Client understands and agrees that the Member may at any time, at its sole discretion and without prior notice, prohibit or restrict the Client s ability to place orders or trade in commodities through the Member. Though orders will generally be routed to the Exchange s computer systems within a few seconds from the time the order is placed by the Client on the Member s ITS System, the Member shall not be liable for any delay in the execution of any order or for any resultant loss on account of the delay. The Client agrees that the Member may, at its sole discretion, subject any order placed by a Client to manual review and entry, which may cause delays in the processing of the Client s order or may result in rejection of such order. In case of a market order, the Client agrees that he will receive the price at which his order is executed by the exchange s computer system; and such price may be different from the price at which the security is trading when his order is entered into the Member s ITS System. The client agrees that the Member shall not be liable or responsible for nonexecution of the orders of the client due to any link/system failure at the client / Member/ Exchange end. MARGIN: The Client agrees and undertakes to immediately deposit with the Member such cash, commodities, or other acceptable security, which the Member may require as margin. The Client agrees that the Member shall be entitled to require the Client to deposit with the Member a higher margin than that prescribed by the Exchange. The Member shall also be entitled to require the Client to keep permanently with the Member a margin of a value specified by the Member so long as the Client desires to avail of the Member s ITS Service. CANCELLATION REQUESTS When the Client places a request to cancel an order, the cancellation of that order is not guaranteed. The order will only be cancelled if the Client s request for cancellation is received and the order is successfully cancelled before it is executed. The Client shall not be entitled to presume an order as having been executed or cancelled until a confirmation from the Member is received by the Client. The Exchange may anull a trade suo-moto without giving a reason therefor. In the event of such anullment, the Member shall be entitled to cancel the relative contract(s) with the Client. BROKERAGE, COMMISSIONS, CHARGES AND FEES The Client agrees to pay the Member brokerage, commission, fees, service tax and other taxes and transaction expenses as they exist from time to time and as they apply to the Client s account and transactions, and the services that he receives from the Member. In case of Physical Contact note are being dispatched to client in a given segment of a given Exchange, a sum of Rs. 25/- per contract note per segment per exchange will be charged over and above the total brokerage booked on a particular date as minimum processing fee. In case the total brokerage earned per segment per exchange is not exceeding Rs. 50/- then a sum of Rs. 50/- will be charged per segment per exchange towards minimum processing fee. CONFIRMATIONS Online confirmation will be available to the Client upon execution or cancellation of an order placed by him through the Member s ITS System. This shall be followed by a confirmation, which may be sent by postal mail, electronic mail or other electronic means. It is the responsibility of the Client to review upon first receipt, whether delivered to him online, by postal mail, by electronic mail, or other electronic means, all confirmations of transactions or cancellations. The Member shall also send the trade confirmations in a consolidated manner through to the client at his request, within 24 hours from the time of execution of order/trade on the Exchange system, as the case may be. The client agrees that the information sent by Member by is deemed to be a valid delivery of such information by the Member. The client is aware that the Member has provided on the web site a facility for reconfirmation of orders, which are larger than that specified by the Member s risk management, by the Member and is also aware that the Member has the discretion to reject the execution of such orders based on his risk perception. INVESTMENT ADVICE The Client 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 security or investment. The Client also acknowledges that the Member s employees are not authorized to give any such advice and that the Client will not solicit or rely upon any such advice from the Member or any of its employees. The Client agrees that in the event of the Member or any employee or official of the Member providing any information, recommendation or advice to the Client, the Client may act upon the same at the sole risk and cost of the Client, and the Member shall not be liable or responsible for the same. The Client assumes full responsibility with respect to his investment decisions and transactions. The Member, its officers, directors, partners, employees, agents and affiliates 8

9 will have no liability with respect to any investment decisions or transactions of the Client. SUPPLEMENTAL TO MAIN MEMBER - CLIENT AGREEMENT: This Agreement is supplemental to, and does not supersede, the Main Member- Client Agreement. Save and except as modified expressly or by implication by this Agreement the Exchange Provisions or the terms of the Member s ITS Website, the provisions of the Main Member-Client Agreement shall apply mutatis mutandis to the extent applicable to dealings between the Member and the Client pursuant to or otherwise relating to the Member s ITS Service. REPRESENTATIONS AND WARRANTIES OF CLIENT The Client represents and warrants to the Member that: All the information provided and statements made in the Client s ITS Account Application are true and correct and are not misleading (whether by reason of omission to state a material fact or otherwise) and the Client is aware that the Member has agreed to provide the Member s ITS Service to the Client on the basis, inter alia, of the statements made in the Client s ITS Account Application. The Client is aware and acknowledges that trading over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc. which are susceptible to interruptions and dislocations; and the Member s ITS Service may at any time be unavailable without further notice. The Member and the Exchange do not make any representation or warranty that the Member s ITS Service will be available to the Client at all times without any interruption. The Client agrees that he shall not have any claim against the Exchange or the Member on account of any suspension, interruption, non-availability or malfunctioning of the Member s ITS System or Service or the Exchange s service or systems for any reason whatsoever. The Client has the required legal capacity to, and is authorised to, enter into this Agreement 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 pursuant to this Agreement with all applicable laws, shall be completed by the Client prior to such transaction being entered into. The Client shall abide by the Exchange Provisions and the terms of the Member s ITS Website in force from time to time. Any instructions given by an authorised representative of the Client to the Member (or to the Member s representative) shall be binding on the Client. REPRESENTATIONS AND WARRANTIES OF THE MEMBER: The Member represents and warrants to the Client that: - The Member s ITS System has been approved by the Exchange. Where the ITS System has not been approved by the Exchange, the Member has applied/ proposes to apply to the Exchange to approve the said ITS System and the Member will commence the Member s ITS Service only after the Exchange has approved the Member s ITS System. MARKET DATA The Client understands that the Exchange asserts a proprietary interest in all of the market data it furnishes, directly or through the Member or otherwise. The Client understands that the Exchange does not guarantee the timeliness, sequence, accuracy or completeness of market data or any other market information, or any messages disseminated by it. Neither the Member nor the Exchange shall be liable in any way for incorrect, misleading, incomplete or dated data or information and, if the Client acts on the basis of the same, he shall do so at his own risk and cost. The Client shall not furnish market information provided by the Exchange to any other person or entity for consideration or otherwise and in the event the Client uses such information he shall do so at his own risk and cost. NOTICES Any notice or other communication to be given by any party to the other in connection with this Agreement shall be in writing and shall be deemed duly served if delivered personally or sent by facsimile transmission or by prepaid registered post or by to the addressee at the address or (as the case may be), the or facsimile number (if any), of that party set opposite its name below: To the Member at: Aditya Birla Commodities Broking Limited Ali Centre, 53, Greams Road, Chennai Fax : abm.care@adityabirla.com or at such other address, facsimile number or address as the party to be served may have notified the other in accordance with the provisions of this Clause. The Client is entitled to send a notice or other communication(s) through provided the notice originates from the ID furnished by him in the individual client registration application form or through any other mode as specified by the Member from time to time. Notice or other communication(s) sent by the Client from unregistered addresses shall not be entertained. To the Client at the address, facsimile number and the address furnished by the Client in the application form or at such other address, facsimile number or address as the party to be served may have notified the other in accordance with the provisions of this clause. Notwithstanding anything stated above, communication relating to orders, margins, maintenance calls and other similar matters in the ordinary course of dealings between the Member and the Client may be communicated orally. EXTRAORDINARY EVENTS The Member and/or its agents will not be liable for losses caused directly or indirectly by government restriction, Exchange or market rulings, suspension of trading, computer, communication, telephone or system failure, war, earthquakes, flood, accident, power failure, equipment or software malfunction, strikes or any other conditions beyond the Member s control. AMENDMENT TO AGREEMENT The Client understands and agrees that the Member may discontinue his ITS Service in part or in its entirety and change the terms of the Service (including the terms on the Member s ITS Website) at any time and from time to time, without prior notice. TERMINATION OF AGREEMENT: The Client agrees that the Member may at any time terminate this Agreement. The Client is aware and accepts that in view of the nature of the transactions and dealings involved in providing the Service it may not be possible for the Member to give advance notice of such termination or suspension to the Client. The Client may at any time terminate this Agreement by not less than seven days notice to the Member, provided that unless the Member otherwise permits, the Client shall not be entitled to terminate this Agreement so long as any amount is payable or commodities are deliverable by the Client to the Member. The termination of this Agreement shall not affect any rights or obligations of either party which have accrued prior to the termination or which may arise out of or in connection with acts done or omitted prior to the termination. 9

10 The provisions of Clauses 14, 20 and 21 of this Agreement shall survive the termination of this Agreement. SEVERABILITY In the event of any provisions of this Agreement being held to be or becoming invalid, unenforceable or illegal for any reason, this Agreement shall remain otherwise in full force apart from the said provision, which will be deemed deleted. The parties shall however attempt to replace the deleted provision with a legally valid provision that reflects the same purpose as the deleted provision to the greatest extent possible. WAIVER No forbearance, relaxation or inaction by any party at any time to require the performance of any provision of this Agreement shall in any way affect, diminish, or prejudice the right of such party to require the performance of that or any other provision of this Agreement or be considered to be a waiver of any right, unless specifically agreed in writing. LAW AND JURISDICTION This Agreement shall be governed by and construed in all respects in accordance with the laws of the Republic of India and, the courts at Mumbai, India shall have jurisdiction over this Agreement and the arbitration proceedings in relation to the Agreement. This Agreement and all contracts and transactions between the Member and the Client pursuant hereto shall be subject to the Rules, Bye-Laws, Regulations, Circulars, Guidelines and other provisions of the Exchange, and the rules and regulations made thereunder and as amended from time to time. DISPUTE RESOLUTION Any claim, dispute or difference arising between the Parties hereto in respect of this Agreement or any contracts, dealings or transactions pursuant hereto or any rights, obligations, terms or conditions as contained in this Agreement or the interpretation or construction of this Agreement shall be subject to the grievance redressal procedure of the Exchange and shall be subject to the arbitration procedure as prescribed by the Exchange Provisions. The Member and the Client are aware of the provisions of Bye-Laws, Rules and regulations of the Exchange relating to resolution of disputes/differences through the mechanism of arbitration provided by the Exchange and agree to abide by the said provisions. Signed on behalf of the Member : Client : For Aditya Birla Commodities Broking Limited Signature x 5 Authorised Signatory MEMBER Name By Name Title Witness (1) Signature Name Address Witness (2) 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. 10

11 VOLUNTARY CLAUSES Whereas the Member and Client have entered into an Member -Client Agreement in accordance with model agreement prescribed by National Spot Exchange Limited (hereinafter referred to as Exchange ). For the purpose of taking additional services from the Member and in order to define operating terms and conditions, the Member and client have agreed to the following clauses which are in addition to then clauses contained in the main agreement. The client had read, understood, agreed and accepted the following clauses and as such the following clauses shall be read / treated as part and parcel of the main agreement. Any changes to these additional clauses are also binding on the client. Whereas the Client is desirous of investing / trading in those commodities admitted for dealing on various segments of the Exchange and as defined in the Rules, Regulations and Bye Laws of the Exchange and circulars issued there under from time to time and Whereas the Client has satisfied himself / herself of the capability of the Member to deal in the above mentioned commodities and wishes to execute his / her orders through the Member and the Client shall continue to satisfy himself / herself of such capability of the Member before executing any order through the Member. In this Agreement: Headings are used for convenience and ease of reference only and shall not affect the construction or interpretation of any provision of this Agreement. Unless the context otherwise requires, reference to the singular includes a reference to the plural and vice-versa, and reference to any gender includes a reference to all other genders (masculine and feminine). Unless the context otherwise requires, references to recitals and clauses shall be deemed to be a reference to the recitals and clauses of this Agreement. References to any enactment are to be construed as referring to any amendment or re-enactment thereof and to any rule, byelaw, regulation, business requirement, specification, order or other provision made under it. Agent The Member is acting as an agent of the Client for all purposes unless the Member notifies the Client electronically or in writing that the Member is acting otherwise. TWS & ITS: The Member has entered into an agreement with the Exchange whereby the Exchange have agreed to provide Computer to Computer Link (hereinafter referred to as TWS facility) and Internet based Trading System (hereinafter referred to as ITS facility ) which facilitates order entry, receipt of order and trade confirmation and also for receipt of data relating to its trade quotations. The Exchange have also authorised the Member to develop software for accessing both the TWS & ITS. All the trades of the Client will be routed and processed either through the said TWS or ITS. In case of non -availability of TWS facility, the Member shall at its discretion place order on the Exchange terminals. In case of non availability of ITS facility, clients may alternatively place orders through the TWS facility available at branches to which they are mapped and / or through the Call and Trade facility, which may be made available by the Member. The Client has the choice of placing order through ITS or TWS. Whereas the Member has also launched its website under the name and style of through which a client can gain access to the Member s Internet Trading System. The name of the website and trading URL are subject to changes and the client will be intimated about the change either through the website and / or through . Whereas the Member offers and / or proposes to offer the internet trading services to its clients; and the client desires to avail of the Member s Internet service for purchasing, selling or otherwise dealing incommoditiess. User ID & Password (s): The following clauses apply to Clients availing the Member s ITS. The Client will be entitled to a user identification- number and password(s), which will enable him to access the Member s ITS for availing the service. The Client is hereby informed that the Member s ITS itself generates the initial password. The Client agrees and undertakes to immediately change his initial password upon receipt thereof. The Client is aware that subsequent passwords are not known or available to the Member. The Client is also aware that the password will automatically expire once in specified period, which at present is fifteen days and the Client shall endeavour to change the password within expiry of the same. The Client shall be responsible for keeping the user identification number 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 ITS using the Client s username, user number and password whether or not such person was authorised to do so. The Client shall immediately inform the Member of any unauthorized use of the Client s username or password(s) with full details of such unauthorised use including the date of such unauthorised use, the manner in which it was unauthorisedly used, the transactions effected pursuant to such unauthorised use etc. The Client acknowledges that he is fully aware of and understands the risks associated with availing of a service for routing orders over the Internet including the risk of misuse and unauthorised use of his username user number and / or password (s) by a third party and the risk of a person hacking into the Client s account on the Member s ITS and unauthorisedly routing orders on behalf of the Client through the Member s ITS. The Client agrees that he shall be fully liable and responsible for any and all unauthorised use and misuse of his username, user number, password and also for any and all acts done by any person through the Member s ITS on the Client s username in any manner whatsoever. The Client shall log off from the Member s ITS at any time the Client is not accessing or using the service and any liability incurred to the Client as a consequence of the Client not logging off the Service shall borne solely by the Client. Without prejudice to the provisions contained in the foregoing clauses subclauses, the Client shall immediately notify the Member in writing with full details if: he discovers or suspects unauthorised access through his Username, Password(s) or account, he notices discrepancies that might be attributable to unauthorized access. he forgets his password(s) or he discovers a security fl aw in the Member s ITS System. In any of the above events specified in the aforementioned clauses, the Client shall immediately change his password(s). However, if the Client is unable to change his password by reason of his having forgotten his password(s) or his password having been unauthorisedly changed by some other person or for any other reason, then the Client shall immediately request the Member in writing to discontinue his old password(s) and thereupon the Member shall cause the Member s ITS to discontinue the use of the Client s old password and the Member s ITS shall generate a new password for the Client, which shall be communicated to the Client. At no point in time, shall the Member be liable, for any loss, whether notional or actual that may be suffered by the Client on account of the misuse of the password(s). In the case of Member s ITS, though orders will generally be routed to the Exchange s computer systems within a few seconds from the time the order is placed by the Client on the Member s ITS, the Member shall not be liable for any delay in the execution of any order or for any resultant loss on account of the delay. The Client also understands that with respect to any order (including a market order), the Client will receive the price at which the order was executed at the market place which may be different from the price at which the commodities were trading, when the order of the Client was entered into the Client s system / the Member s system / through the Members ITS. All orders for purchase, sale or other dealings in commodities and other instructions routed through the Member s ITS via the Client s username shall be deemed to have been given by the Client. In the case of orders placed through the Member s ITS, Client is aware that the Member has provided on the website a facility for reconfirmation of orders, which are larger than that specified by the Member s risk management, by the Member and is also aware that the Member has the discretion to reject the execution of such orders based on its risk perception. The Member may from time to time impose and vary limits on the orders which the Client can place through the Member s ITS (including exposure limits, turnover limits, limits as to the number, value and/or kind of ( Commodities in respect of which orders can be placed, etc.). The Client agrees to abide by the aforesaid limits and by the exposure limits, if any, set by the Member or by the Exchange from time to time. The Client 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 Client of such variation, reduction or imposition in advance. The Client agrees that the Member shall not be responsible for such variation, reduction or imposition or the Client s inability to route any order through the Member s ITS on account of any such variation, reduction or imposition of limits. Cancellation / Modification of Orders & Confirmation of orders: When the Client places a request to cancel / modify an order already placed, such cancellation or modification of an order is not guaranteed. The Client s order will be cancelled / modified, only if the request for cancellation or modification of the 11

12 order is received in the market place before the Client s order is executed. In the case of orders through the Member s ITS, the Client s order will be cancelled/ modified only if the request for cancellation or modification of the order is received in the Member s ITS before the Client s order is executed. The Client shall not assume that an order has been executed or cancelled until the Member sends a confirmation to the Client through phone, post or . Online confirmation will be available to the Client upon execution or cancellation of an order placed by him through the Member s ITS. This shall be followed by a confirmation, which may be sent by postal mail, electronic mail or other electronic means. It is the responsibility of the Client to review upon first receipt whether delivered to him online, by postal mail, by electronic mail or other electronic means, all confirmations of transactions or cancellations. The Client is aware and acknowledges that trading over the TWS / ITS, involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals etc., which are susceptible to interruptions and dislocations; and the Member s TWS / ITS may at any time be unavailable without further notice. The Member and the Exchange do not make any representation or warranty that the Member s service will be available to the Client at all times without any interruption. The Client agrees that he shall not have any claim against the Exchange or the Member on account of any suspension, interruption, non-availability or malfunctioning of the Member s TWS / ITS or service or the Exchange service or systems for any reason whatsoever. Transactions, Execution of Orders: Transaction for the purpose of this clause will include dealings in, purchase or sale or order for purchase or sale of commodities. The Client agrees that the Member acts as an agent of the Client to complete all Transactions given orally or in writing by the Client or placed through the Internet by the Client and is authorised to make advances and expend monies as required for carrying out such transaction. The Client understands that entering an order on the Exchange through the Member including market orders either electronically or other wise does not guarantee execution of the order. The Client s order transmitted electronically shall not be deemed to have been received unless the Member confirms the receipt of such order. Though orders are usually routed through the market places at the earliest, the Client agrees that the Member may, at its sole discretion, subject any order placed by a Client to manual review and entry, which may cause delays in the processing of the Client s order or may result in rejection of such order. The Client understands and agrees that the Member may at any time, at its sole discretion and without prior notice, prohibit or restrict the Client s ability to place orders or trade in commodities through the Member. Trade and Margin Confirmation The Member may send trade confirmations to the client, in the form of contract note-cum-bill or otherwise via mail, , fax, courier, Registered AD, oral communications / SMS or otherwise at the postal address, mobile / telephone / fax nos., address intimated by the client to the Member. Similarly the Member may send margin details to the client via mail, , fax, courier, Registered AD, oral communications / SMS or otherwise at the postal address, mobile / telephone / fax nos., address intimated by the client to the Member. The Member hereby informs that it will send consolidated trade confirmations to clients trading through Internet only on a day end basis and the client agrees to receive such consolidated trade confirmation on day end basis. The client understands that it is his/her/its responsibility to review the trade confirmations, the contract notes, the bills or statements of account immediately upon their receipt. All information contained therein shall be binding upon the client, if the client does not object in writing to any of the contents within twenty four hours of such intimation/confirmation. In all cases, the Member reserves the right to determine the validity of the client s objection to the transaction. The client agrees that the Member will not be responsible for the non-receipt of the trade confirmation due to any change in the client s address / address/ telephone/fax number which is not intimated to the Member in writing and/or where the communication remains undelivered due to non availability of the client at the given address / telephone /fax number or client not opening his box. The client agrees that the Member fulfils its legal obligation to deliver to the client any such document if sent via electronic delivery and the Member has not received any report indicating bouncing back of such electronic delivery. Margins The client shall deposit with the Member such margins which may be in the form of Exchange specified collaterals and or other collaterals (inclusive but not limited to monies, marketable securities, bank guarantees, immovable property, jewellery, commodities, warehouse receipts etc.) of as specified by the Member from time to time as margin which may be required to open / trade through his trading account. The client shall from time to time deposit with the Member such 12 additional margin as may be required by the Member and / or as may be required under FMC Guidelines / Notifications / Circulars and the Bye Laws, Rules, Business Rules and Regulations, Notifications, Circulars of the Exchange, in the form of collaterals which are acceptable to the Member. It is the sole responsibility of the client to provide 100% comfort on mark to market losses at any given point of time including intra-day adjustments. The Member shall be entitled to adjust the intra-day loss against the margin available and the client shall necessarily furnish additional margins to maintain open positions if any. The Member shall be entitled to close open positions of client due to shortfall in margin arising out of adjustment of intra-day losses against the available margins of the client. The Client is liable to pay applicable initial 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, Clearing House / Clearing Corporation or FMC) and the Client shall be obliged to pay such margins within the stipulated time. The Member is entitled at its discretion to prevent the Client from trading on any of the Segments of the Exchange unless the Client deposits the margin and / or the additional margin and / or 100% comfort on mark to market loss. The payment of margin by the Client does not necessarily imply complete satisfaction of all dues. In spite of consistently having paid margin, the Client may, on closing of its trade, be obliged to pay (or entitled to receive) such further sum as the Contract may dictate / require. The client agrees that the Member may in its turn place any of the collaterals/ securities placed by him as margin by way of pledge or hypothecation or margin on his behalf with exchanges to meet Exchange obligations, as the Member may deem fit. The client authorizes the Member to do all such acts, deeds and things as may be necessary and expedient for the above purpose. Tape recording of conversation The client is aware that the Member may tape-record the conversations between the client or its representative and the Member, either personally or over the telephone, and the client hereby specifically permits the Member to do so. The Member may rely upon such recordings as and when required to resolve disputes in connection with the trading transactions. Security, Interest and Lien: All collaterals (inclusive but not limited to monies, marketable securities, bank guarantees, immovable property, jewellery ec.), which the Member may hold on the account of the Client, subject to hair cut of 50% of its value, shall be held subject to a general lien for the discharge of the obligation of the Client to the Member under this Agreement. In addition, the Client agrees that all monies, marketable securities, bank guarantees, immovable property, jewellery, commodities, warehouse receipts etc. and other properties now or hereafter held and carried or maintained by the Member in its possession or control for any purpose in or in the benefit of any account maintained by the Client now or hereinafter opened either with the Member or any of its subsidiaries including any account in which the Client may have interest shall be subject to a lien in favour of the Member for the discharge of the indebtedness and the Client s other obligations to the said Member in any of the said accounts. Client authorizes the Member and the Member shall have the right to transfer monies, marketable securities, bank guarantees, immovable property, jewellery, commodities, warehouse receipts etc. and other properties so held by the Member from or to any of the accounts maintained by the Client with the Member or its subsidiaries, whenever in its judgement the Member consider such transfer for its protection. In enforcing the said lien, the Member shall have the right and discretion to determine which of the monies, marketable securities, bank guarantees, immovable property, jewellery, commodities, warehouse receipts etc. and other properties are to be sold / adjusted and which contracts or positions are to be closed. In the event of breach or default by Client under this Agreement, the Member and its subsidiaries shall have first charge over all the properties of the Client available with the Member and the Member shall have all rights and remedies as are available to secured creditors under all applicable laws in addition to the rights and remedies provided in this Agreement. The Client agrees that the Member may in its turn place any of the monies, marketable securities, bank guarantees, immovable property, jewellery, commodities, warehouse receipts etc. and other properties placed by him/her/it as Margin by way of pledge or hypothecation or margin on his behalf with exchanges, banks or other lending institutions to meet obligations as the Member may deem fit. The Client authorizes Member to do all such acts, deeds and things as may be necessary and expedient for the above purpose. The Client shall not have any right to proceed in any manner against the exchanges, banks or other lending institutions in respect of Commodities pledged by the Member in the matter of any dispute between the Client and the Member, which may or may not concern Commodities provided by the Client. The Client and the Member hereby agree and confirm that all rights, liabilities and obligations pertaining to the pledged Commodities shall be subject to the rights of the exchanges, banks or other lending institutions, in whose favour pledge has been created by the Member. The Client hereby further agrees and confirms that