Terms and Conditions
General terms
These terms and conditions (“Terms”) contain important information pertaining to your mutual fund investment account with Garg Honorvest LLP. The Terms govern the relationship between us and you, the user (“You” or “Client”). Investment in mutual funds is enabled through Garg Honorvest LLP, an independent mutual fund distributor registered with AMFI having ARN-340427. The Platform is owned, operated and maintained by Garg Honorvest LLP, an independent mutual fund distributor with an ARN-340427.
For the purpose of these Privacy Policy, wherever the context so mentions “Covered Persons”, “Client”, “You” or “Your”, it shall mean any natural or legal person who has visited this website/mobile app and/or has agreed to or has enquired to open an account and/or initiated the process of opening an account with Garg Honorvest LLP (also defined as “Covered Persons”).
Disclaimer
The Client understands and agrees that all investment and/or investment decisions are based on the Client’s own investment objectives and evaluation of prevailing financial circumstances. This extends to all decisions made by the Client on the basis of any information that may be available on the Platform. The Client understands that Garg Honorvest LLP is merely a facilitator providing access to its Clients to participate in the mutual fund investments, and that Garg Honorvest LLP does not seek to influence or otherwise affect the decision-making process of its Clients in any way whatsoever.
The Client shall not hold nor seek to hold Garg Honorvest LLP or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates or business associates liable for any investment losses or damages incurred as a consequence of relying upon any information, opinions, advice or any other material whatsoever on the Platform or in any brochures, promotional material or any other literature promulgated by Garg Honorvest LLP or any of its affiliates or partners.
The Client shall seek independent advice from professionals on the suitability of any investment decisions. The Client acknowledges that employees and representatives of Garg Honorvest LLP are not authorised to give any such advice, and that the Client shall not solicit or rely upon any such advice from Garg Honorvest LLP or any of its employees or representatives. Any advice of this nature inadvertently given by any employee or representative of Garg Honorvest LLP shall strictly be construed as being in their personal capacity, and Garg Honorvest LLP disclaims any liabilities arising thereto.
Account opening and registration
Before availing of any online investment services on the Platform, the Client is required to complete Garg Honorvest LLP’s registration process, as may be prescribed from time to time. To register yourself, you are required to follow the procedure mentioned on the Platform, along with any instructions communicated to you by Garg Honorvest LLP’s employees or representatives. Your account shall be opened after submission of the requisite documentation and its verification and at the sole discretion of Garg Honorvest LLP. Any pickup of the required documentation pertaining to the account opening procedure is subject to the availability of our representatives at any particular time and location.
Account security and passwords
The Client acknowledges that they shall be responsible for maintaining their login credentials in a secure and confidential manner. Clients shall solely be responsible for all orders entered and transactions executed on the Platform using their login credentials, irrespective of whether the person actually executing such transactions were authorised to do so or not. Garg Honorvest LLP assumes no responsibility whatsoever for any liabilities arising out of unauthorised access to a client’s login credentials. The Client acknowledges that they are fully aware of and understand the risks associated with online investment services, including the risk of misuse and unauthorised access to their login credentials by third parties. The Client also acknowledges the risk of third parties hacking into their Login ID on Garg Honorvest LLP’s platform and unauthorisedly routing orders on behalf of the Client through the System.
Modification of details
The Client declares that the modification information provided by them is true to the best of their knowledge. The Client undertakes to inform Garg Honorvest LLP of any discrepancies, changes, or incorrect information that they become aware of, immediately. The Client understands and accepts that in case any information provided for modifying bank account details is incorrect or misleading, they would be held liable for all such consequences/actions taken.
Orders
All orders and instructions routed through Garg Honorvest LLP’s Platform via the Client’s ID, including but not limited to those for purchase, sale and pledge of any securities, shall be deemed to have been made by the Client.
Garg Honorvest LLP shall in no way be responsible for any orders entered by the Client by mistake on the Platform. Every order entered by the Client through their Client IDs shall be deemed to be a valid order, for which the Client shall bear full responsibility. Investments in mutual funds The online platform provided by Garg Honorvest LLP is an order collection platform that collects orders on behalf of Clients and places these orders for execution. The Client expressly agrees that Garg Honorvest LLP is not liable or responsible for any damages arising from non-execution or incorrect execution of orders and that Garg Honorvest LLP does not make any representations or warranties regarding the successful execution of any such orders. A number of issues may arise at the end of the Client, Garg Honorvest LLP or the Exchange. Such issues include but are not restricted to internet link failures, system failures, etc. The funds required for mutual fund purchases on the platform are debited directly from the Client’s bank account. You agree that any transaction request falling due on a holiday or after the cut-off time would be processed on the next working day and respective NAV would be applicable as per the Mutual Fund’s Scheme Information Document. The cut-off timings will be prior to the statutory cut-off timing specified under SEBI regulations and the Scheme Information Document for operational convenience. Depending on the mode of payment, the cut-off timings have been decided by the exchanges and payment aggregators/bank. Mutual fund credits: The funds received by You from all redemption orders on Garg Honorvest LLP are directly credited to your bank account as per the settlement time of the respective Asset Management Company (“AMC”) scheme selected on Garg Honorvest LLP. You will be allowed to avail or use some of the services of this platform only when You complete KYC and account opening procedures with Garg Honorvest LLP, and agree to abide by all such Policies, Terms and Conditions, and all such consents & terms that you have agreed to during account opening with Garg Honorvest LLP along with all such rules/policies available on the website. Garg Honorvest LLP may use your personal data and in order to provide services to you, your personal information may be processed by or transferred or disclosed to and / or by third parties like Financial Institutions, RTA’s, Asset Management Companies, KRAs, CERSAI, Government Agencies, or 3rd party service providers & partners, etc., where necessary, to enable us to provide services to you. With your consent, your personal information, and usage of the website/services of Garg Honorvest LLP, may be used by us in order to provide you with information in relation to other products and services used by You. By visiting this platform, you agree to these terms of use and you confirm your wish for your personal information to be processed for these additional purposes. Any calculators/tools/planners/baskets/goals/featured funds on Garg Honorvest LLP, if any, that are designed to assist you in determining your appropriate amount of investment are not to be construed as any investment advice or strategy. There may be a possibility of variation in values arising out of delayed data feeds, transmission losses in electronic data, electronic fund transfer etc. for which Garg Honorvest LLP and its authorised representatives shall not be liable in any manner. Redemption proceeds and dividend payouts shall be credited by the AMC, directly to your bank account provided at the time of registration with Garg Honorvest LLP. This is if the bank account linked to your Garg Honorvest LLP account is on the list of banks with which the mutual fund has a direct credit arrangement. The list of such banks is mentioned in the Scheme Information Document or Key Information Memorandum (KIM) cum common application form of the respective mutual fund There may be an applicable exit load/any other charge levied by the Mutual Funds/AMCs that will be chargeable in accordance with the Scheme Information Documents (SID) /Key Information Memorandum (KIM), factsheets, and/or addendums issued thereto from time to time (collectively referred to as “Scheme Related Documents”). You shall read all the scheme-related documents before investing. Residents in the United States of America & Canada may not be permitted to transact in certain mutual funds, as decided and communicated by the respective AMC from time to time. Garg Honorvest LLP shall not be liable for rejections of such applications by Mutual Funds, where the investor is a resident from such a country banned list by the respective AMC. All such residents are required to do their own diligence with respect to eligibility in investing into such mutual funds/instruments. NAV/prices/any data shown on the platform to You for the purpose of transacting in any instrument are shown directly on an ‘as is’ basis, which may be provided by a third-party data vendor, directly by AMCs / financial institutions, and/or by any such entity that Garg Honorvest LLP may have an agreement/association with. Upon any investment made, units are allocated by mutual funds/ AMCs / institutions as per applicable NAV as the case may be, which is not under the control of Garg Honorvest LLP. Garg Honorvest LLP does not warrant that the calculation of NAV and units allotted by Mutual funds are correct.
Account opening and registration
Before availing of any online investment services on the Platform, the Client is required to complete Garg Honorvest LLP’s registration process, as may be prescribed from time to time. To register yourself, you are required to follow the procedure mentioned on the Platform, along with any instructions communicated to you by Garg Honorvest LLP’s employees or representatives. Your account shall be opened after submission of the requisite documentation and its verification and at the sole discretion of Garg Honorvest LLP. Any pickup of the required documentation pertaining to the account opening procedure is subject to the availability of our representatives at any particular time and location.
Account security and passwords
Governing Law, Jurisdiction and Dispute Resolution
The Terms and the use of the application are governed by and construed in accordance with the laws of India. In the event any dispute or difference arises between the User and Garg Honorvest LLP in connection with the validity, interpretation, termination and implementation or alleged breach of any provision of the Terms (“Dispute”), both Parties hereto shall endeavour to settle such Dispute within a period of 30 days, amicably with each other and in good faith.
Contact Us
Please reach out to help@mfplace.in if you have any questions or concerns regarding the Terms.