IPIN Agreement for transaction through online

This

Agreement

(hereinafter

referred

to

as

the

Agreement

is

entered

in

to

between. (hereinafter referred to the unit holder, the expression includes the
agent, successors and legal heirs) and Sundaram Asset Management Company Limited
( which includes its successor, administrators, permitted

assignees and lawful agents

hereinafter referred to as SAMC, having it corporate office at Floor I Sundaram Towers, 46

Whites Road Royapettah, Chennai 600014

on this day of month of

.2014

WHEREAS
SAMC ,a wholly owned subsidiary of Sundaram Finance Limited is registered with the
Securities and Exchange Board of India to act as the Investment

Manager of Sundaram

Mutual Fund Schemes ( hereinafter referred to as Fund)

SAMC has a dedicated website in the name of www.sundarammutual.com ( hereinafter
referred to as the website, which provides information and services relating to SAMC and
the Fund, including the facility of subscriptions, redemptions, switch in and switch outs of
such units and related services.SAMC has also got a dedicated call centre connected to
telephone no :.. which offer to provide information to the unit holders about
their investments and also resolve their queries.
The Fund, through its Registrar and Transfer Agents, Sundaram BNP Paribas Funds
Services limited ( hereinafter referred to as the RTA) and other service providers offers the
facility of transacting on line through internet and telephones for the convenience of its unit
holders and also help them to gain access to their portfolio of investments in the Fund. The
RTA has a dedicated website in the name of www.sundarambnpparibasfs.in
For convenient transaction and easy use and effective management an IPIN facility is
introduced by SAMC, in consultation with the RTA.
WHEREAS
THE Unit holder

is desirous of availing these services /facilities available through the

website and call Centre of the RTA and SAMC and its Registrar is willing to provide such
services and facilities subject to following terms and conditions.

1. Eligibility :
The IPIN based services will be offered to the investors. The investors willing to avail
the services should have completed KYC/KRA process. The facility is offered to
individual investors and investors with Either or Survivor status.
2. Scope:
The scope of the agreement is confined to the existing investors who are subject to
post verification process carried out by RTA.
a) Services offered through Telephone

Account balance and current value of investment

Details of last five transactions

Changing IPIN

Other queries
Services offered through Internet

View access for holdings and generating statement of account

Subscriptions and additional subscriptions to various schemes of the fund

NFOs subscriptions launched from time to time

Redemption of units

Switch ins and switch outs

SIP/ SWP/STP after the first registration

Rollover to new or other existing schemes on maturity

The services are offered in respect financial transactions only and subject to the
following limits:
Equity and balanced funds up to Rs. 1.00 cr per transaction per day
Liquid Funds and Ultra short term funds up to Rs. 20 cr per transaction per
day.

Non-financial transactions will not be allowed under this mode

3. Terms of Services
Unitholders consent and authorization for online transactions
The unitholder hereby authorize the SAMC/ Fund who in turn authorizes its RTA and other
service providers, to extend the IPIN facility for the unitholders , including non-irrevocable
authorization to the SAMC/Fund to act upon any electronic or telephonic instructions given to
the fund by the unitholder through use of the IPIN facility and through the PIN , user name
and password in connection with the online transactions including viewing of designated
accounts and performing the online transactions through the websites of the Fund/RTA or
over telephone at the call centre and such other service as may be permitted by the fund
under the IPIN facility from time to time
For the purposes of the Agreement
a) website of the SAMC/Fund shall mean www.sundarammutual.com
b) Website of the RTA shall means www.sundarambnpparibasfs.in and
c) call centre shall mean Telephonic helpline connected to the Funds Telephone no
..Toll free..or such other telephone number or numbers
the SAMC/Fund may announce from time to time .
d) Folio means the account number allotted to the unit holder
Usage of or subscription to the said IPIN facility shall be in addition to and not in substitution
of the existing procedure for conducting the transactions , the services of which are available
through the online transactions as well.
4. The SAMC/Fund/RTA shall not be responsible for any errors that may be committed
by the unit holders in the process of conducting any online transaction or for error or
failure of the transaction over internet due to any network problems.
5. Procedure
An eligible unit holder registering for this facility shall be issued a PIN by the RTA against his
folio number, after the SAMC/RTA satisfies itself that the signature on the PIN agreement
matches, with the signature of the Unitholders in the record of the RTA.

If a folio is held by more than one unitholder, Pin would be issued to each of the holder
provided the account is in the operation of Either or Survivor
The unitholder agrees that pursuant to this agreement .the SAMC/RTA will dispatch the PIN
allotted to the unitholder, if so desired by him , by courier or by post entirely at the risk of the
unitholder
Generation of IPIN through internet
a. Investor would log on to R&TAs website and would click on register online button
b. Investor would be asked to fill the folio number ( option to be given to enter old or
new folio number )
c. After submitting the folio number, verification screen would open up and investor
would have to answer 3 Mandatory verification questions and 1 secondary question.
Investor would have to setup a security question and a captcha will be generated
d. Post successful verification and completion of the process email would be triggered
to the registered email id which would contain the link for I PIN generation. Pop up
would come stating that link sent to email registered in the RTA r records and link
would be valid for 24 hours only
e. Incase email id is not registered Pop up would come stating that email id is not
registered for this folio and he needs to contact toll free number for any clarification
f.

If email id is registered, SMS would be triggered to the investor`s mobile number

stating that link to generate IPIN has been sent to his registered email id and the
same is valid for 24 hours

g. In case IPIN already exists for this investor, he would get a pop up message stating
that IPIN already exists for this folio. Simultaneously email would triggered to his
registered email id informing that IPIN already exists for this folio and to call toll free
number for any clarifications
h. Link sent to the registered mail id would again ask for validation questions and the
unitholder needs to answer to secret question

i.

Investor would have to agree to terms and conditions

j.

Post successful verification, investor would be able to create a password

k. Post creation of password, SMS would be triggered to register mobile number

informing investors about generation of I-pin
l.

IPIN generated would have only view access for 7 days and post which transaction
access would be granted automatically

m. Written communication would be couriered to the registered email address regarding

generation of IPIN
n. Once transaction access is granted SMS and email communication would be sent to
the investor.
o. Investor would have to answer to the secret question every time he log`s in to the
portal
The unitholder will be responsible to the SAMC/RTA to confirm the receipt of the IPIN
through courier, post or email as the case may be
The unitholder shall immediately notify the SAMC/RTA, in the event of evidence of
tampering with the IPIN in the course of post, courier, email or non-receipt of the
same, as the case may be. In such an event or in the event of loss of IPIN by the
Unitholder or due to Unitholder having forgotten the IPIN, a request for issue of
duplicate IPIN shall be considered only on receipt of a written request from the
unitholders subject to Verification /validation.
The unitholder shall use the IPIN at the time of logging with his email id and the
password with which to carryout transactions through websites and shall keep the
same confidential at all times. The unitholder may use the same IPIN to access
various services provided by the Fund over the internet as well as telephone in
respect of his folios.

It shall be the sole responsibility of the unit holder to ensure adequate protection,
confidentiality and secrecy of the username , password as well as the IPIN and any
disclosure thereof to any other person shall be entirely at the risk of the Unitholder.
SAMC/Fund/RTA in such cases will not accept any responsibility or liability for any
loss, damage or harm.
6. SAMC/RTA WARRANTIES
SAMC / RTA will take best efforts to keep the Website updated on a daily basis, so as to
provide most current information to Unitholders. The Unitholder also agrees that the look and
feel of the web screen and outputs there from may differ based on the nature of the software
used by the Unitholder to browse the Website.
SAMC / RTA agrees to take best efforts to protect security of the data placed on the Internet
and has for this purpose, required the service provider to sign a confidentiality agreement
specifying confidentiality of the data and to restrict external access to the database on the
Internet.
The RTA shall ask the Unitholder to enter his/her/its user name and password and PIN or
any other transaction specific details before accepting instructions on behalf of Fund. The
Fund / RTA may, in the interest of the Unitholder, request a fax confirmation of the
instructions and any additional information the Fund may require. In such an event, the Fund
shall not be bound to act on electronic instructions received, until the said fax confirmation
and additional information is received from the Unitholder, in a form and manner acceptable
to the Fund. The Unitholder confirms and agrees that he shall at all times be bound by any
modification and/or variations made to the Terms and Conditions hereof and as notified on
the Website. The Fund shall not be required to give the Unitholder individually any separate
notice of any of the modification and/or variations that have been notified on the Website.
SAMC / RTA shall have the absolute discretion to amend or supplement any of the terms at
any time and will endeavor to give prior notice on the website / through email for such
changes wherever feasible. The Fund /RTA may, in its absolute discretion decide not to carry
out any such transaction the RTA/Fund has reason to believe that the instructions are not
genuine, are unclear, are such as to raise a doubt, are otherwise improper or there is ground
to believe that the same is in contravention of any statute/laws in India and cannot be put in
to effect.

7. SAMC/RTA DISCLAIMERS:
Neither SAMC / RTA nor the service provider shall be liable for any unauthorized usage of
the IPIN and the Unit holder hereby fully indemnifies and holds the SAMC / RTA and the
service provider harmless against any action, suit, proceedings initiated against it or any
loss, cost or damage incurred by it as a result thereof. Further, neither the Fund, nor SAMC,
RTA and service provider shall be liable at all for any misuse if any, of any data accessed
through the Call Center, by third parties.
Without prejudice to any other provisions of this Agreement, SAMC / RTA and its service
provider shall not be liable for any loss or damage whatsoever caused arising directly or
indirectly in connection with the services and/or this Agreement, including without limitation
any:
1. Loss of data;
2. Interruption or stoppage to the Customer's access to and/or use of the Call Center
SAMC / RTA or its service provider shall not be responsible for any failure on part of the unit
holder to utilize the facility due to the Unit Holder not being within the geographical range
within which the Facility is offered.
SAMC /RTA its service provider have the absolute discretion to withdraw/amend the services
provided, or amend or supplement any of the above terms and conditions at any time without
prior notice to the Unit holder.

8. UNITHOLDER COVENANTS:
The Unitholder hereby agrees that access of any facility by use of the user name, password
or the IPIN as the case maybe, will be deemed acceptance of the other terms and conditions
as posted on the Website and the Unitholder will unequivocally be bound by such terms and
conditions.
The Unitholder confirms and agrees that he shall at all times be bound by any modification
and/or variations made to the other Terms and Conditions and as notified on the Website.
The Fund shall not be required to give the Unitholder individually any separate notice of any
of the modification and/or variations that have been notified on the Website.
The Unitholder agrees and authorises the Fund, its service provider to execute, comply with
all or any instruction(s) given to the Fund through use of the facilities available on the
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website. Any instruction given to the Fund through use of the internet facility and through the
IPIN, User name, Password (hereinafter referred to as the "Instructions") shall be deemed to
have been given by the Unitholder(s) to the Fund/service provider and the Fund/RTA shall
be entitled to assume that the said instructions are given by the Unitholder(s) and the
Fund/RTA shall be protected from acting thereon.
The Unitholder agrees that if any unauthorized person gains access to the Facility by using
the Unitholder's IPIN/ Username and password, the Unitholder agrees to at all times
indemnify the Fund/ SAMC / RTA, its officers, employees, successors and assigns from and
against all actions, proceedings, claims and demands whatsoever for or on account of or in
relation to any unauthorized use of the IPIN, user name and password Facility and from and
against all damages, costs, charges and expenses in respect thereof, unless the same is
caused by gross negligence, bad faith or willful default on the part of the Fund. It shall be the
sole responsibility of the unitholder to ensure adequate protection, confidentiality and
secrecy of the user name and password and the PIN and any disclosure thereof to any other
person shall be entirely at the unitholders risk. The Unitholder shall take all possible care to
prevent discovery of the user name and password by any other person. SAMC /RTA will not
accept any kind of responsibility or liability for any loss, damage or harm in such cases.
The Unitholder shall not use his/her user name and password after the disclosure of the
same to any third party. The IPIN, user name and password shall be kept secret/ safe and
the Unitholder shall ensure that the joint Unitholders do not disclose their IPIN, login names
or password to any other unauthorized person/s.
SAMC / RTA or its service provider shall be notified immediately, if a record of the IPIN or
password, is lost or stolen or if the User is aware or suspects that another unauthorized
person has come to know of or has used his/her IPIN or password without authority. Upon
receiving a written request from the unitholder in such an event, SAMC / RTA or its service
provider will cancel the PIN or password and arrange to generate and issue a new IPIN /
password in the interest of the unitholder.
The Unitholder hereby releases the Fund and the service provider from any liability
whatsoever against misuse of the IPIN, user name and password. Further, neither the Fund
nor the Registrar shall be liable at all for any misuse if any, of any data placed on the
Internet, by third parties "hacking" or unauthorized accessing the server. The-Fund/Registrar
will not be liable for any failure to act upon instructions or to provide any facility for any cause
that is beyond the Fund/Registrars' control.
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The Unit holder shall take responsibility for all the transactions conducted by using the
Facility and will abide by the record of the transactions generated by SMF. Further such
records generated by the Fund shall be conclusive proof and binding for all purposes and
maybe used as conclusive evidence in any proceedings.
The Unitholder shall be fully liable to the Fund/RTA and its service provider for every
transaction entered into using the Facility, whether with or without the knowledge of the
Unitholder. In no event will the Fund or its service provider be liable to the Unitholder for any
special, direct, indirect, consequential or incidental loss or damages even if the Unitholder
has advised the Fund or its service provider of such possibility.
The Unitholder shall be solely responsible for ensuring adequate security measures to help
prevent unauthorized access or use of the Facility to their transactions and bank accounts,
and SAMC / RTA shall not be liable of any such unauthorized access and protection of his
computer against any computer virus.
The Unitholder undertakes to comply with all applicable laws and statutory requirements and
agrees to be bound by and to diligently follow and ensure compliance with the applicable
rules, regulations of SMF and the SEBI. The Fund / service provider may not acknowledge
receipt of any instructions nor shall be responsible to verify any instructions.
The Fund/ RTA shall endeavour to give effect to instructions on a best effort basis and as
soon as practically possible, as permitted by the regulations from time to time. In the event of
any instructions being capable of execution in two or more ways, the Fund/ service provider
may execute the instructions in any way as it may, in its sole judgment decide.
The Unitholder agrees that the use of the facilities is prone risk of any loss of or interception
of information over Internet, notwithstanding the secure method of transmitting information
adopted by the Fund / RTA and its service providers, and that such a risk will be borne by
the Unitholder and that the Fund/- RTA and service provider shall not be liable for the same.
The Fund, the AMC, the Trustee, along with its directors, employees, agents, executors,
successors and assigns shall not be liable for any damages or injuries arising out of or in
connection with the use of the website and Call Centre or its non-use including nonavailability or failure of performance, loss or corruption of data, loss of or damage to property
(including profit and goodwill), work stoppage, computer failure or malfunctioning, or
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interruption of business; error, omission, interruption, deletion, defect, delay in operation or

transmission, communication line failure or for any failure to act upon Electronic or
Telephonic Instructions or to provide any facility for any cause that is beyond the control of
the Fund or its Registrars. All records of the Fund/service provider, whether in electronic
form, magnetic medium, documents or any other with respect to instructions received for use
of the Facilities or Instructions received through use of the Facility shall be conclusive
evidence of such instructions and shall be binding on the Unitholder.
In case of any discrepancy in the details of any transaction carried out in respect of the
Unitholders account, the Unitholder shall intimate the service provider/Fund within ten days
of receipt of the statement of account or information thereof, failing which the transaction will
be deemed to be correct and accepted by the Unitholder.
9. NO WAIVER
No forbearance, delay or failure on part of the Fund/ service provider to exercise any power
or right under these terms and conditions shall operate as a waiver of such power or right,
nor shall any single or partial exercise of such power or right preclude any further exercise o
that or any other power or right.

10. Non Transferability

The The grant of the facility / services under the IPIN to the unit holder shall not
transferred/assigned under any circumstances and shall be used only by the
Unitholders.
11. Fund disclaimer
The scheme information documents provided on the website of the Fund setout
briefly the, information about the schemes that the investor should know before
investing in a scheme . The particulars of the schemes are prepared in accordance
with the requirements prescribed under SEBI Mutual funds Regulations , 1996 as
amended from time to time and filed with SEBI. The units being offered for public for
public subscriptions have not been approved or disapproved by SEBI. The offer
documents shall remain effective till a material change occurs and thereafter the
changes will be filed with SEBI and circulated to the unitholders periodically. All units
holders availing the online facility are notified that that any information there on
should be used in conjunction with traditional investment techniques , which may
10

include obtaining applicable , legal , accounting , tax or other professional advice.

SAMC/SMF

indemnifies

itself

from

any

omissions,

errors,

or

investment

consequences arising from the use of this material by any user of the websites of the
SAMC/RTA.
12. Confidentiality and Privacy
The SAMC/Fund/ the RTA shall keep the information relating to the transaction of the
unit holder using the facility, confidential. Provided however, that the fund Is entitled
to disclose any information or particulars pertaining to the unitholder to any authority,
statutory or otherwise as may be required by law.
The SAMC/Fund/ the RTA shall not sell or market any personal information or
personalized data of its unit holders to unaffiliated organization. SAMC/Fund shall
maintain the unit holders personal information and data according to strict standards
and security and confidentiality

13. Proprietary Rights

The unit holder acknowledge that the software underlying the websites of the SAMC/
Registrar r and other Internet related software which are required for accessing the
services are the legal property of the SAMC/ RTA / respective service providers .
The permission given by the SAMC to access these websites will not convey any
proprietary or ownership rights in the above software. The unitholder agrees that he
shall not attempt to modify, translate, disassemble, decompile or reverse engineer
the software underlying websites or create any derivative product based on the
software. The unitholder further agree not to use the name, logo or mark of the
SAMC/ Fund (or any logo or mark similar thereto), and any related patent,
trademarks and service marks applications, design rights, copyrights, and all or any
similar or equivalent rights arising or subsisting in any country in the world.
14. Termination
The unitholder may terminate the PIN facility by making an application duly signed by
all the holders to the Fund/ SAMC/RTA. upon receipt of the written request , the RTA
shall disable the user ID and password of the unit holders within 10 business days
from the date of the receipt.

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The Fund/ SAMC/RTA is authorised to terminate the IPIN facility without prior notice
on the occurrence of any event , which in the opinion of the SAMC/ Fund/RTA , may
have the material or adverse impact on the designated account or on the operations
of the fund but not limited to the following events:
a. Noncompliance of the any terms and conditions of the agreement
b. Death, insolvency, insanity or bankruptcy of the unitholder
c. Any other cause arising out of operation of law
d. Closing of unitholders account
e. Any garnishee order or injunctions attaching the unitholders account issued
by competent court
f.

Such other reason as the SAMC/Fund may at its sole or absolute discretion
deem proper

15. Governing law:

These Terms and Conditions and/or the use of the services/facilities provided through
SAMC / through the RTA shall be governed by the laws of the Republic of India. The
investor/Unit holder and the SAMC agree to submit to the exclusive jurisdiction of the
courts in Chennai as regards any claims or matters arising under these Terms and
Conditions. The SAMC accepts no liability whatsoever, direct or indirect, for noncompliance with the laws if any country other than the Republic of India.
16. Notice:
Any Notice, communication or documents required to be given by either party to the
other under the terms of the Agreement , may be given by personal delivery,
Registered Post , by fax or by other electronic medium as agreed by both the parties
from time to time at the following address :
a. If to the SAMC/ Fund
Investor Services Department
Ist Floor Sundaram Towers
46 whites Road, Royapettah
Chennai- 600014

12

Phone:
Fax:
Email:
b. If to the Registrar and Transfer Agent
Sundaram BNP Paribas Funds Services Limited
3rd Floor, RR Tower 2 Thiru Vi Ka Industrial Estate,
Guindy Chennai - 600032 Ph:(044) 22504700
Fax : (044) 22501379 , (044) 22501384
c. If to the Unit holder : At the address of the unit holder registered with the fund
The Notice communication or documents shall be deemed to be effective if given by
personal delivery when so delivered. If given by post on expiration of seven days
after the notice. Communication or document is delivered to the post office for
onward transmission. if given by fax or telex, upon transmission thereof. Provided
that any notice, communication or document given by fax , shall be followed by a
confirmation in writing.

17. General
The clause heading in these Terms and Conditions are only for the sake of
convenience and do not effect the meaning of the relative clause. SAMC however is
at liberty to subcontract and employ agents to carry out its obligations under these
Terms and Conditions. Words and expressions not defined herein but defined in the
Scheme Information Document, Statement of Additional Information and/or Key
Information Memorandum of the relevant Scheme shall have the same meanings
respectively assigned to them in such SID/SAI and/or KIM. These terms and
conditions are subject to Securities and Exchange Board of India (Mutual Funds),
Regulations, 1996 and circulars, guidelines / notification issued there under as
amended from time to time and other laws, rules and regulations issued by the
Government of India relating to mutual funds.

13

Declaration and Signing

I/ We confirm and declare that I/we have read and understood the Terms and conditions of
IPIN usage and online transactions and also the disclaimer and other terms and conditions
as posted on the www.sundarammutual.com and www.sundarambnpparibasfs.in

I/We agree and shall abide by the guidelines, procedure, and terms and conditions of IPIN
and online transactions, and agree not to hold Sundaram Asset Management Company
Limited, Sundaram Mutual Fund and Sundaram BNP Paribas Funds Services Limited
responsible for my/our actions relating to the use of IPIN facility.
Signed by Investors

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