7.1 The Client shall be entitled to place an order for the sale or purchase of any Admitted Security at any time, regardless of the duration of the trading hours of the Exchange, through e-mail, writing, telephonic placement by the client or his duly authorised representatives whose particulars has been provided by the client to Goodwill and on receipt of such instructions those orders shall be forwarded for the execution.
7.2 The client agrees that all orders placed through the web-site shall be forwarded by the system to Exchange. All orders placed otherwise than through the web-site shall be forwarded by the system to Exchange terminals or any other order execution mechanism at the discretion of Goodwill . In the event that the order is placed during the trading hours, it shall be routed to and executed on the market system. However, in the event that the order is placed at any other time, the order shall be routed to and executed during the next succeeding trading session of the Exchange.
7.3 On line confirmation will be available to the client upon execution or cancellation of the order placed by him through the system of Goodwill . This shall be followed by a confirmation which may be sent by postal mail or courier or electronic mail or SMS or any other electronic means after the execution of the order, trade and this shall be deemed to be valid delivery thereof by Goodwill . It shall be the responsibility of the client to review immediately upon receipt, whether delivered to him on line, by postal mail or by courier or by electronic mail or any other electronic means all confirmations of order, transactions, or cancellations. It shall be the responsibility of the client to follow up with Goodwill for all such confirmations that are not received by him within stipulated time.
7.4 The client shall bring any errors in any report, confirmation or contract note of executed trades (including execution prices, scripts or quantities) to Goodwill ’s notice in writing by an electronic mail or fax within twenty four hours of receipt of the concerned report, confirmation or contract note. Any other discrepancy in the confirmation or account shall be notified by the client to Goodwill in writing via electronic mail or fax within twenty four hour from the time of receipt of the first notice. In all cases Goodwill shall have a right to accept or reject the client’s objection.
7.5 There may be a delay in Goodwill receiving the reports of transaction, status, from the respective exchanges or other persons in respect of or in connection with which Goodwill has entered into contracts or transactions on behalf of the clients Accordingly Goodwill may forward to the client late reports in respect of such transactions that were previously unreported to him as been expired, cancelled or executed. The client shall not hold Goodwill responsible for any losses suffered by the client on account of any late reports, statements or any errors in the report / statements computed by or received from any exchange.
7.6 The client agrees that if, any circumstance or for any reason, the market close before the acceptance of the Order by the Exchange, the order may be rejected. The client agrees further, that Goodwill may reject Orders if the same are rejected by the Exchange for any reason. In case of rejection of an order due to rejection by the Exchange, the client agrees that the order shall remain declined and shall not be re-processed, in any event.
7.7 Goodwill may, at its sole discretion, reject any order placed on the web-site or in any other manner due to any reason, including but not limited to the non-availability of funds in the trading account of the client, non-availability of securities in the Demat account of the client with a designated depository participant, insufficiency of margin amount if the client opts for margin trading, suspension of scrip- specific trading activities by or on an Exchange and the applicability of circuit breaker to a scrip in which orders are placed
7.8 The client is aware, that the Stock Exchange may provide a facility for reconfirmation of orders, which are larger than those specify by the Goodwill ’s risk management, and is also aware that the Goodwill has the discretion to reject the execution of such orders based on such risk perception.
7.9 The client agrees further that Goodwill shall have the right to reject any order placed by the client for any reason and at any time without notice to the client.
7.10 The client agrees that, if the order is not accepted on the web-site for any reason, Goodwill shall have the right to treat the order as having lapsed.
7.11 The client is aware that the electronic trading systems either at the Exchange or in the office of Goodwill offices are vulnerable to temporary disruptions, breakdowns or failures. In the event of non-execution of trade orders or trade cancellation due to the happening of such events or vulnerabilities due to failure / disruption/ breakdown of system or link, Goodwill shall be entitled to cancel relative request/(s) with the Client and shall not be able to execute the desired transactions of the client’s. In such event, Goodwill does not accept responsibility for any losses incurred / that may be incurred by the Client due to such eventualities which are beyond the control of Goodwill .
7.12 Goodwill , may at its sole discretion permit execution of orders in respect of securities, irrespective of the amount in the balance of the account of the client.
7.13 The client agrees to abide with and be bound by all the Rules and Circulars that Goodwill may issue from time to time, and all rules, regulations and bye-laws of the Exchange as are in force pertaining to the transactions on his behalf carried out by Goodwill and the orders placed by him on the web-site or any other manner.
7.14 The systems used by Goodwill for providing Online Trading services or dial up services are generally capable of assessing the risk of the client as soon as the order comes in. However, due to any reason whatsoever, if the order is processed without sufficient risk cover from the client, client shall be bound by such trade and shall provide such sum as may be required to meet his liability under the trade
7.15 Any and all instructions issued by an authorized representative of the client shall be binding on the client in accordance with the letter authorizing the said representative to deal on behalf of the client. These authorizations shall be on Non Judicial Stamp Paper of requisite value clearly describing the scope of authorization. In case of Corporate Entities, these authorizations shall be in the form of Board resolutions duly signed by the Director of the company.
7.16 Auto Square Off:Clients agree that Goodwill would have the discretion to square off the position of Client/s in following circumstances:
In case of Margin Trades, if the open buy position is neither squared off nor converted to Delivery by Client/s atleast 15 (fifteen) minutes before the scheduled time of normal market close.
In case of Margin Trades, if the open sell position is neither squared off nor converted to Delivery by Client/s atleast 15 (fifteen) minutes before the scheduled time of normal market close.
In case of Margin Trades, where Mark to Market Loss on the open position has reached the stipulated % of the margins placed with us
In all other cases where the margin or security placed by the Client/s falls short of the requirement or where the limits given to the Client/s have been breached or where the Client/s have defaulted on their existing obligation
Client/s agree that although the auto square off trigger point is pre-defined, subsequent to which Goodwill could exercise its discretion to carry out the square off within a reasonable period of time, the actual execution could happen at a price different from the trigger point and the Client/s agree to bear the loss based on actual executed price. Goodwill shall also have the right to cancel any or all open orders and/or close any or all outstanding requests. Client/s understand that in case the Auto Square off does not take place due to certain reasons like price band, etc. then Goodwill shall Convert the open positions to Delivery. If the conversion also fails due to non-availability/shortage of Demat shares, then for the open sale position, the Client/s will have to face auction or close out as per the rules of the concerned Exchange. Consequently, Client/s will be responsible for any resulting losses and all associated costs including penalty levied by the Exchange. If the conversion also fails due to insufficient funds/no funds, then for the open buy position, the shares will not be delivered to the Client/s and Goodwill will liquidate the shares anytime and the Client/s will be liable for any resulting losses and all associated costs incurred by Goodwill.
7.17 Mistaken Orders:Goodwill shall not be responsible for any order, that is made by the Client by mistake and every order that is entered by the Client through the use of the allotted user name and the security code(s) shall be deemed to be a valid order for which the Client shall be fully responsible
7.18 Cancellation or modification of the requests
7.18.1 Cancellation or modification of an order pursuant to the client’s request in that behalf is not guaranteed. The order will be cancelled or modified only if the clients request for cancellation and modification is received and the order is successfully cancelled or modified before it is executed. Market orders are subject to immediate execution wherever possible.
7.18.2 The client shall not be entitled to presume an order having been executed, cancelled or modified until a confirmation from Goodwill is received by the client. However due to technical other factors the confirmation may not be immediately transmitted to or received by the client and such a delay shall not entitle the client to presume that the order has not been executed cancelled or modified unless and until Goodwill has so confirmed in writing.
7.18.3 The Exchange may anull a trade suo-moto without giving a reason there for. In the event of such anullment, Goodwill shall be entitled to cancel the relative contract(s) with the Client.
7.18.4 The pending orders shall be governed as per the exchange systems, after the market is closed for the day.
7.19 Goodwill shall issue contract notes in terms of the SEBI (Brokers and Sub-Brokers) Rules and Regulations, 1992 within twenty four hour of the execution of the trade. Such contract note, if issued in physical form shall be dispatched by Goodwill by courier, at the address mentioned in this agreement or at any other address expressly informed to Goodwill by the client. The client agrees that Goodwill to issue the contract note in digital form which shall be sent by way of electronic mail to the address provide by the client. When Goodwill uploads the digital contract notes on the web-site www.Gwcindia.in the same shall be deemed to be received by the client. Goodwill shall not be responsible for the non – receipt of the trade confirmation due to any change in the correspondence address of the Client not intimated to Goodwill in writing. Client is aware that it is his responsibility to review the trade confirmations, the contract notes, the bills or statements of account immediately upon their receipt. All such confirmations and statements shall be deemed to have been accepted as correct if the client does not object in writing to any of the contents of such trade confirmation/intimation within twenty four hour to Goodwill.
7.20 Goodwill may allow/disallow client from trading in any security or class of securities, or derivatives contracts and impose such conditions including scrip wise conditional trading for trading as it may deem fit from time to time.