Latin Manharlal

Terms & Conditions

1. Definitions

  • “The Exchange” shall mean the Stock Exchange, Mumbai.
  • “ITORS” shall mean the Internet-based Trading through Order Routing System of the Exchange.
  • “ITORS Service” shall mean the Member's order routing service using the internet as the medium of communication for the purpose of transmitting Client's orders to the Exchange.
  • “Member's ITORS System” shall mean the website of the Member through which the Member provides the Member's ITORS Service, including all supporting infrastructure such as servers, communication links, and related software.
  • “Password” shall mean the alphanumeric or special characters or a combination thereof given to the Client by the Member to enable access to the Member's ITORS System.
  • “Username” shall mean the alphanumeric characters given to the Client by the Member to enable the identification of the Client on the Member's ITORS System.

2. Agreement to Provide and Avail of the ITORS Service

The Member agrees to provide the Member's ITORS Service to the Client and the Client agrees to avail of the Member's ITORS Service on and subject to the terms and conditions of this Agreement, the Exchange Provisions.

3. Username and Password

  • The initial password shall be system generated and the Client shall change the password immediately on first login.
  • The Client shall be solely responsible for maintaining the confidentiality of the username and password.
  • The Client shall be solely responsible for all orders entered and transactions done by any person whosoever through the Member's ITORS System using the Client's username and/or password whether or not such person was authorized to do so.
  • The Client shall immediately notify the Member if the Client becomes aware of any unauthorized use of the Client's username or password.
  • The Member shall not be liable for any loss that may be incurred by the Client as a result of unauthorized use of the password.
  • The Client shall ensure that at the end of each session the Client logs off from the Member's ITORS System.

4. Transactions and Settlements

  • All orders routed through the Member's ITORS System are deemed as given by the Client.
  • The Member may impose and vary limits on the orders that the Client can place through the Member's ITORS System at its discretion.
  • 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.
  • In case of market orders, the price at which the order is executed may be significantly different from the last traded price or the price at the time of order entry.
  • The Member may at its discretion subject any order to a manual review and verification and this may cause delays in processing the order or the order to be rejected.

5. Margin

The Client shall deposit with the Member cash, securities or such other acceptable security as the Member may require as margin. The Member may require the Client to deposit margins in amounts greater than those required by the Exchange.

6. Cancellation Requests

There shall be no cancellation of order(s) which have already been executed. The cancellation of order(s) which have not been executed shall be effected only if the cancellation request is received before the execution of the order(s). The Client shall not be entitled to presume an order as having been executed or canceled until a confirmation from the Member is received.

7. Brokerage, Commissions and Fees

The Client agrees to pay applicable brokerage, commissions, fees, service tax, and transaction expenses as may be levied from time to time. A schedule of charges is available upon request.

8. Confirmations

Online confirmations shall follow order execution or cancellation, with subsequent confirmation via mail or email. Clients must review all confirmations and report discrepancies immediately.

9. Investment Advice

The Member shall not be liable to provide the Client with any legal, tax, investment or accounting advice. The Member's employees are not authorized to provide such advice. The Client assumes full responsibility for all investment decisions.

10. Supplemental to Main Member-Client Agreement

This Agreement supplements but does not supersede the main Member-Client Agreement. The provisions of the main Agreement shall apply where not specifically modified herein.

11. Representations and Warranties of Client

  • The information provided in the ITORS application is true, correct, complete and not misleading.
  • Trading over the internet involves uncertain factors and complex hardware, software, systems, communication lines, peripherals etc. which are susceptible to interruptions and dislocations. The Client shall have no claim against the Member on account of any suspension, interruption, non-availability or malfunctioning of the Member's ITORS System or the Exchange's service.
  • The Client has the legal capacity to enter into this Agreement.
  • The Client shall comply with all applicable laws, rules and regulations.
  • The Client shall abide by the Exchange Provisions.
  • Any instructions given by the Client's authorized representatives shall be binding on the Client.

12. Representations and Warranties of the Member

The Member's ITORS System has been approved by the Exchange, or the Member will obtain approval before commencing the ITORS Service.

13. Market Data

The Exchange asserts a proprietary interest in all of the market data it furnishes. The Exchange does not guarantee the accuracy or completeness of market data. Neither the Member nor the Exchange shall be liable in any way for incorrect, misleading, incomplete or dated data.

14. Notices

Written notices may be delivered personally, by fax, registered post, or email to addresses specified. Ordinary course communications may be oral. The Member's address is: 4th Floor, Janmabhoomi Bhavan, Fort, Mumbai 400001.

15. 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.

16. Amendment to Agreement

The Member may discontinue the ITORS Service in part or in its entirety and change the terms of the Service at any time and from time to time, without prior notice.

17. Termination of Agreement

The Member may terminate this Agreement at any time without advance notice. The Client may terminate this Agreement with seven days' notice provided no amounts are owed to the Member. Termination shall not affect accrued rights or obligations.

18. Severability

If any provision of this Agreement becomes invalid or unenforceable, the remaining provisions shall continue in full force and effect.

19. Waiver

Forbearance by either party to enforce any right or remedy shall not constitute a waiver of such right or remedy unless specifically agreed in writing.

20. Law and Jurisdiction

This Agreement shall be governed by and construed in all respects in accordance with the laws of the Republic of India. The courts in Mumbai shall have exclusive jurisdiction. This Agreement is subject to Exchange Provisions and SEBI Regulations.

21. Dispute Resolution

All claims and disputes shall be subject to the Exchange's grievance redressal and arbitration procedures as prescribed from time to time.