Simply Grow Technologies Pvt Ltd (henceforth referred to as “Simply Grow”) operates an online platform for the purchase of mutual funds by customers. This online technology platform (henceforth referred to as “Jama”) includes a website and a mobile app. Ram Kalyan Kumar Medury (henceforth referred to as “Advisor”) is a SEBI Registered Investment Advisor (INA 200006725) and operates through this online technology platform.
Please go through the following terms & conditions (“Agreement”) thoroughly to avail the services of the Advisor. This Investment Services Agreement is a legal agreement between you (“User” and/or “Client”) and Simply Grow and it sets forth the terms upon which you shall avail the investment advice relating to mutual funds and transaction service from Jama.
“Jama” or “us” or “we” or “our” shall mean and refer to Simply Grow and its affiliates including its officers, employees, agents, partners, licensors and the Advisor;
“User”, “Client”, “Customer”, “You/you”, “Your/your” means any person or user or Registered user or viewer or who views, accesses or uses our Mobile App and / or Website;
“Registered User”, “Registered Client” or “Registered Customer” shall mean and include the users or customers who have an active Account with Jama to avail the Services or any part thereof;
“Investment Account” shall mean the account opened with Jama by the Registered Users, for use of the Mobile App and / or the Website or making investment through these online platforms;
“Use” or “Using” means to login, view, access, avail services or other benefits from using the Mobile App and / or Website;
“Services” means the service of logging and the act of access to Jama’s online technology platform for the purchase, redemption and other transactions of units of mutual funds listed on the Jama platform by the Users, on the terms and conditions as mentioned;
“AMC” shall mean and include any Asset Management Company approved by the Securities and Exchange Board of India (SEBI);
“RTA” shall mean Registrar and Transfer Agent;
Declaration by the User: By using and signing up for the services offered by Jama, you acknowledge and confirm that:
- I am 18 years of age or older.
- All information provided by me to Jama for registration and investments is true and correct.
- Jama may contact me by phone and/or by E-mail for my registration or investments.
- I have understood and agreed to abide by the terms of the Investment Services Agreement below.
- I am not a United States Person (U.S. person) as defined under the laws of the United States of America or a resident of Canada or any Financial Action Task Force (FATF) declared non-compliant country or territory.
Investment Services Agreement:
- User Registration and Login Credentials:
- The User has applied for an Investment Account after understanding the nature and scope of services (“Services”) provided by Jama.
- The identity of the User on the Mobile App / Website is authenticated by the use of the User’s Login Credentials. Jama will consider Instructions authenticated by my Login Credentials to have originated from the User and as duly authorised.
- Access to services of Jama is subject to the satisfactory completion of the registration requirements including the submission of all mandatory documents and subsequent verifications.
- The registration requirements include provision by the User of (i) a valid and verified email address, (ii) a valid and verified phone number, (iii) accurate personal and investment related details, (iv) PAN card details and a copy of the PAN card, (iv) address proof, (v) photograph, (v) bank account details and a cancelled cheque leaf and (vi) signature.
- The operation of User’s investment account and the execution of Instructions are subject to this Agreement, and the scheme related documents of the respective Asset Management Company (“AMC”).
- The User holds the right to transact directly with the AMC even if the investments made through Jama. In case the transactions are submitted offline, the signature of the client present in the KYC records will be accessed by AMC/RTA for verification.
- The User’s access to Jama account may be suspended / cancelled / terminated without liability, in whole or in part, at any time without prior notice, if the User fails to comply with any of these Terms or any modifications thereof.
- The User agrees and understands that no change of address, mobile number, e-mail ID and / or bank details can be allowed for such an Investment account, unless a duly signed hard copy of such written request is sent to Jama / AMC / RTA / other regulatory bodies for verification and other formalities. However, the User can change the login details for mobile number / Email address at any time by using the ‘Settings’ on the Mobile App / Website, or by reaching out to Jama Support team.
- Jama’s Obligations:
- To offer and recommend mutual fund schemes from AMC’s selected without any bias towards any AMC regardless of any financial consideration or inducement, based solely on quantitative and qualitative research and assessment.
- To offer financial planning assistance such as optimising the investment amount and time based on the user’s situation. This shall also extend to planning for the user’s financial goals and aspirations.
- To facilitate subscription and redemption of mutual fund units by transmitting User’s Instructions and money to the appropriate AMC, as per the User’s Instructions.
- Securely and confidentially maintain a record of the User’s personal information and his/her financial transactions.
- Accurately sharing of the User’s transaction records and portfolio performance through periodic investment tracking and updates. The AMC shall hold the primary responsibility to regularly send to the Users such communications as required under the SEBI Regulations.
- Promptly and efficiently responding to the User’s queries relating to his / her investment account.
- User’s Obligations:
- To ensure that all information provided by the User are true and accurate.
- To ensure that the money invested by the User is from their own bank account (primary holder’s bank account in case of Investment Account held jointly), is from legitimate sources and is remitted through approved banking channels.
- To keep their Login Credentials safe and secret.
- Make an informed investment decision by reading all the scheme related documents and information that he / she chooses to invest in.
- Seek independent financial planning, legal, accounting, tax or other professional advice before investing or withdrawing.
- General Investment Conditions:
- The User has read the “Disclaimer” on Jama Website and understands that there is no guarantee or promise for any returns on investments made in Mutual Fund scheme(s). Past performance does not indicate the future performance of the schemes and may not necessarily provide a basis of comparison with other investments
- The User grants authority to Jama to process and transmit any request made by him/her through the Mobile App or Website, authenticated by the User’s Login credentials, to execute their instructions with regards to purchase / redemption / switch or any other transactions/ activities in respect of mutual funds on their behalf, as may be instructed by them from time to time, on the terms and conditions of use of Jama.
- Jama does not, and is not obliged to, offer all mutual fund schemes for investment. By limiting the number of schemes on the Mobile App/Website, Jama does not make any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied.
- The data and information provided on the Mobile App/Website does not constitute advice and shall not be relied upon by the User while making investment decisions.
- For Investment Accounts held jointly, the mutual fund folios maintained by the concerned AMC will also be held jointly and all the individuals will have the same authority to operate those folios (Any or Survivor).
- In case the User violates this agreement, or any local or international laws, Jama may, at any time and at its sole discretion, terminate the User’s Investment Account and/or prevent him / her from accessing the Mobile App/Website and/or using its Services.
- Jama may modify these terms at any time by informing the User. The User’s continued use of the Services will imply his/her acceptance of the changes.
- FATCA & Country Resident Status Terms & Conditions
- The Central Board of Direct Taxes has notified Rules 114F to 114H, as part of the Income tax Rules, 1962, which Rules require Indian financial institutions such as the Bank to seek additional personal, tax and beneficial owner information and certain certifications and documentation from all our account holders.
- I understand that in relevant cases, information will have to be reported to tax authorities / appointed agencies. Towards compliance, the AMC may also be required to provide information to any institutions such as withholding agents for the purpose of ensuring appropriate withholding from the account or any proceeds in relation thereto.
- Should there be any change in any information provided by me, please I will notify promptly, i.e., within 30days. I shall respond any such request from the AMC for any of the folios that I may possess.
- Jama Fee Structures:
- Jama does not charge the User any fees for its Services during the trial period. After the trial launch period, the users shall choose any one of the subscriptions pricing plans. This is apart from any charges/fees that may be levied by the mutual funds, if any. However, all liabilities and obligations of the Registered Clients hereunder to Jama / Mutual Fund / AMCs / Trustees of the AMCs shall be joint and/or several, as the case may be.
- Jama reserves the right to change its fee structure from current structure in the future for any of its Services. Any such changes will be communicated by Jama to the User through email and / or mobile notification, at least 30 days prior to revision, and the User will be given the option to continue with the revised structure or transfer the assets out of his / her Account without incurring any costs payable to Jama.
- Any payment gateway related handling charges shall be borne by the User unless Jama at its sole discretion decides to waive them on a per transaction basis.
- Payment Gateway / Online Payment Terms / Bank Mandates:
- The transfer of funds for any purchase / switch of mutual funds units will be done by Jama using an Electronic Payment Gateway facility. or using an existing NACH Bank Mandate once such a facility is registered.
- Payment Gateway facility will only be offered through an internet banking facility, through a third party net banking service provider registered with the Reserve Bank of India. User cannot use or permit the use of the payment gateway or any related services for any illegal or other purposes outside the scope of this Agreement.
- Users bear the sole responsibility of using the Electronic Payment Gateway, any associated payment gateway charges and the risks associated thereof. These risks would include but not be limited to timeouts, mistakes and errors including typos and authentication failures, misuse of passwords or other internet frauds, and the User agrees to indemnify Jama against any liability and responsibility for any claims, losses, damages or costs of any nature arising due to such risks.
- For investments using NACH/ Direct Debit/Bank Mandate, Jama will first submit the fund transfer instruction(s) to the User’s bank. Any such request for subscription will be sent to the AMC only after receiving confirmation of successful money transfer to the AMC’s account. Consequently, there may be a lag between the date of debit to the User’s account and date Jama submits the User request to the AMC. In case of purchase of units of Mutual Fund schemes equal to or above Rs. 2 lakhs (other than liquid schemes), the NAV applicable will be the closing NAV of the day on which the funds are available for utilization, irrespective of the time of receipt of such application. However, for purchases below Rs. 2 lakhs made before the cut-off time, the same day NAV will be applicable.
- Jama will forward the User’s Instructions to the AMC electronically through the payment partner and the online platform provided by a third-party partner (like Bombay Stock Exchange, “BSE” or the National Stock Exchange of India Limited, ‘NSEIL’)) and the AMC will process the transactions on the basis of such electronic instructions. AMCs are not obliged to accept the User’s application for subscription to units of their mutual fund schemes in part or in full.
- Indemnification of Jama:
- The User agrees to indemnify Jama and its authorised representatives, partners, service providers, Mutual Funds, Asset Management Companies and their officers and agents free and harmless at all times, against all monetary and other harm, whether direct or indirect, by reason of using Jama’s services and/or doing and/or omitting to do anything in accordance with the Terms and Conditions specified herein or any instructions relating to the online dealing in mutual funds through Jama.
- The User will will not dispute and/or hold Jama responsible for any act that is not an obligation of Jama in this Agreement, or any disclosures made by Jama to any statutory body under any law.
- The User will will not dispute and/or hold Jama responsible for any loss, notional or otherwise, incurred because of delays either at the Bank, RTA or AMC. rejection of the User’s instructions by the Bank, RTA or AMC, processing of Instructions authenticated by the User’s Login Credentials non-availability or non-accessibility of the Mobile App/Website, telephone(s), or office(s) of Jama in case of circumstances beyond Jama reasonable control.
- Governing laws:
- This Agreement is governed by the laws of India. All disputes are subject, firstly, to mediation, and then by Arbitration by a sole arbitrator appointed by Jama. The venue of arbitration will be Hyderabad, India.
- In the event of any dispute between the User and Jama, the record of transactions maintained by Jama would serve as the only source of verification of the accuracy of such claims.
If you do not accept and abide by these terms, then you must not proceed further or use the Jama mobile app / website.
Last updated: 24 December, 2016