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TREC Holder Company of Dhaka & Chittagong Stock Exchange
DSE TREC NO.
059 & CSE TREC NO. 130
BSEC Reg. Number: 3.1/DSE-59/2011/465 &
3.2/CSE-130/2011/262
(TERMS AND CONDITIONS FOR OPENING A BROKERAGE ACCOUNT)
DECLARATION
I/we the undersigned whose information is given in the Brokerage Application Form
hereby request to be registered as a client of TSSL and to open a brokerage account
in my/our name. I/we further agree and confirm that the account hereby requested to
be opened by me/us shall be held and governed by the terms and conditions of this
agreement as provided hereinafter
and as may be modified from time to time by TSSL.
TERMS AND CONDITIONS
Instructions: A written instruction shall be given to TSSL from time
to time to purchase and/or sell Investment (which shall mean and include stocks,
debentures, mutual funds and private placement) on behalf of the account holder. On
receipt of such instructions along with a cash deposit or delivery of shares, TSSL
shall so far as TSSL considers
it reasonably practicable, purchase and/or sell Investments in accordance with those
instructions, provided always that (i) any such dealings do not contravene any
applicable laws or regulations, (ii) TSSL shall have an absolute discretion to
accept or reject purchase/sell instructions and (iii) account holder's instruction
shall include the following details.
- The name of the Investment
- Quantity
- Price with notification of limit or discretion
- The duration of the order
- The nature of the lot (i.e. scrip size) for sale or the desired format for
purchase order (See Note)
- The order should specify completion formats of:
- All or partial fill with minimum trade value or number of shares.
- Mode of execution i.e. DVP (delivery versus payment/NON DVP (non-delivery versus
payment)
(Note: The number of shares constituting a market lot may change; Sellers must
include the exact format of their holding. This has a direct impact on market
pricing given the predominantly retail nature of the market. Traders may fail where
non-agreed lot sizes are delivered.)
Joint Accounts: If this is a joint account, unless the account
holders notify TSSL otherwise and provide such documentation, as TSSL may require,
the brokerage account(s) shall be held by the account holders jointly with rights of
survivorship ( payable to either or the survivor). Each joint tenant irrevocable
appoints the other as
attorney-in-fact to take all action on his or her behalf and represent him or her in
all respects in connection with this Agreement. TSSL shall be fully protected in
acting but shall not be required_ to act upon the instructions of either of the
account holder. Each of the account holder shall be liable, jointly and severally,
for any amounts due to TSSL pursuant
to this Agreement, whether incurred by either or both of the account holder.
Jumbo and Market Lots: When an account holder wishes to sell stock,
he/she must inform TSSL as to the format of the lot being sold, for example -5,000
shares in 1O's and 2,000 in 5' s (Jumbo lots are difficult to split with the company
and so face a considerable discount to market prices).
Risk: The account holder understand(s) that the stock market is a
rapidly changing market and that there is an inherent risk in incurring loss in
share dealings.
Limit Orders: While TSSL will endeavor to purchase or sell the
Investment within the limits of the prices that may be notified by the account
holder. TSSL does not guarantee or assure that the transactions will be materialized
within such notified limits. TSSL will always endeavor to obtain the best price.
Agents: TSSL is authorized to employ other brokers as agents to
perform all or part of its duties under these terms and conditions and to provide
information regarding the Account to such agents. TSSL may seek and act on an
opinion from any lawyer, accountant or other expert and shall not incur any
liability by acting upon such opinion.
Associated Companies: TSSL may purchase and/or sell Investments on
behalf of the account holder by placing orders with itself and any other company
whether acting as underwriters, investment managers, merchant or commercial banks,
registered or licensed deposit-takers, brokers, dealers or otherwise, or with any
other brokers and dealers as TSSL
in its sole discretion may decide.
Dhaka and Chittagong Stock Exchange Rules: All transactions duly
concluded through and recognized by the Dhaka Stock Exchange Limited (hereafter DSE)
and the Chittagong Stock Exchange Limited (hereafter CSE) are governed by the
respective Rules of DSE and CSE relating to trading and settlement in particular and
will be binding on both the parties
concerned.
Payment and Disclosure: TSSL shall not be obliged to make any
payment on behalf of the account holder. TSSL may disclose information regarding the
account holder or his/her dealings in relation to this agreement to any department
of any government or public body upon request, whether or not such request is in
fact legally enforceable, and TSSL
will not be liable in any way to account holder for so doing.
Cancellation Provisions: TSSL is authorized, in its discretion,
should the undersigned die or should TSSL for any person whatever deem it necessary
for its protection, without notice, to cancel any outstanding orders in order to
close out the accounts of the account holder, in whole or in part, or to close out
any commitment made on behalf of the
account holder.
Indemnity: In the event of a default, omission or act committed by
TSSL as a broker/member of the DSE the account holder shall be indemnified if and
only as provided by the Rules and Regulations of the DSE.
Confirmations and Statements: TSSL shall use its best endeavors to
provide the account holder with (a) written confirmation of each transaction it has
effected on instructions, and (b) contract notes (in such form as TSSL shall
determine) setting forth (i) details of the trade date, value date, settlement date,
quantity, price, commission rate
and DSE “Howla" number or equivalent provided also that the account holder does
hereby agree and undertake to confirm in writing beforehand of all my instructions.
Fees and Expenses: The account holder will pay a brokerage
commission of_____________, and any other related expenses and charges that may from
time to time be applicable, Every transaction concluded through and recognized by
the DSE is subject to transaction levies or other fees imposed by the DSE. The
account holder understands that the rate of
commission may be changed from time to time.
Set-off: TSSL shall be entitled to, in respect of all commission,
costs, charges or expenses, set-off from any monies from time to time held by TSSL
for the account holder and if such monies are insufficient for the purpose, to sell
any Investments held by TSSL or any of its agents on behalf of the account holder.
Period: This Agreement shall remain in force for a period of ______
months/years from the date of signing.
Terminations: This agreement will stand terminated:
- (i) Upon the expiry of the period of this Agreement unless renewed upon mutual
agreement between TSSL and the Account Holder.
- (ii) Before the expiry of the period of this Agreement, if either TSSL or the
Account Holder gives-months' notice. Termination shall not absolve the parties
from completing accounts and adjusting any outstanding dues.
Assignment: The benefit and burden of this Agreement is capable of
assignment by both the account holder and TSSL without the consent of the other but
the notice of assignment must be given to the other in writing.
Force Majeure: TSSL shall not be liable for any loss, damages,
expenses, costs or otherwise resulting directly or indirectly from any Government
restriction, exchange ruling, suspension of trading, war, strike, national disaster
or any other event or circumstance beyond its control.
Forged Shares: TSSL shall not be liable or responsible for any
shares that are found to be forged. However, TSSL will make every attempt to replace
the forged shares from the seller.
Law: The terms and conditions contained herein shall be governed by
and constructed in accordance with the laws of Bangladesh.
Notices:
- (a) All notices, instructions or other communications shall be given English and
in writing or orally (facsimile, telex, telegram, cable or letter) and shall be
sent to TSSL and the account holder at the address, fax and/or telex number
shown herein or at such other address as may be communicated by the parties
hereto in writing.
- (b) Proof of delivery or dispatch shall be:
- i) in the case of a letter: dispatch of the letter duly stamped and
addressed.
- ii) In the case of facsimile, telex, telegram or cable on the day of
dispatch.
- (c) All oral notices, instructions or other communications should be confirmed
in writing.
Definitions: Words defined herein save where a contrary meaning
appears or such meaning is inconsistent with the context shall have this same
defined meaning wherever used.
Sums Dues: For all purposes, including any legal proceedings, a
certificate by any of TSSL officers confirming the monies and/or liabilities for the
time being due and/or incurred to by the account holder shall be conclusive evidence
thereof against him/her.
Disputes and Resolutions of Dispute: In case of any dispute arising
between the TSSL and account holder in connection with the interpretation or
enforcement of the terms and conditions contained herein, attempts should be made to
settle the matter amicable, in case of failure to settle the matter amicable, the
same shall be referred to
arbitration of two Arbitrators, each to be nominated by the parties who shall also
appoint an Umpire. The decision of the Arbitrators, so nominated, shall be binding
on both the parties. In case the Arbitrators differ in their finding, the decision
of the Umpire shall be final and binding on the parties. The arbitration shall be
conducted in, accordance with the
Arbitration Act 1940.
Central Depository Bangladesh Limited (CDBL)
Depository Account (BO Account) Opened with CDBL participant.
TREC Holder Company of Dhaka & Chittagong Stock Exchange
DSE TREC NO.
059 & CSE TREC NO. 130
BSEC Reg. Number: 3.1/DSE-59/2011/465 &
3.2/CSE-130/2011/262
Terms & Conditions - Bye Laws 7.3, 3(c)
CDBL Participant, Dhaka //Chittagong // Sylhet
Dear Sir,
Please open a Depository account (BO Account) in my/our names(s) on the terms and
conditions set out bellow. In consideration of
Green Delta Securities Limited (the *CDBL Participant*) opening the account
providing depository account facilities to me/us, I/we have signed the BO account
Opening Form as a token of acceptance of the terms and conditions set out below.
- 1. I/we agree to be bound by The Depositories Act, 1999, Depositories
Regulations, 2000, The Depository (user) Regulations 2003, and abide by the Bye
Laws and Operating Instructions issued from time to time by CDBL.
- 2. CDBL shall allocate a unique identification number to me /us (Account Holder
BO ID) for the CDBL Participant to maintain a separate Account for me/us, unless
the I/we Instructs the CDBL Participant to keep the securities in an Omnibus
Account of the CDBL Participants. The CDBL Participant shall however ensure that
my/our securities shall not be mixed with
the CDBL Participant's own securities.
- 3. I/we agree to pay such fees, charges and deposits to the CDBL Participant as
may be mutually agreed upon, for the purpose of opening and maintaining my/our
account, for carrying out the instructions and for rendering such other services
as are incidental or consequential to my/our holding securities in and
transacting through the said depository account
with the CDBL Participant.
- 4. I/we Shall be responsible for:
- (a) The veracity of all statements and particulars set out in the
account opening form, supporting or accompanying documents;
- (b) The authenticity and genuineness of all certificates and/or
documents submitted to the CDBL Participant along with or in support of
the account opening form or subsequently for dematerialization
- (c) Title to the securities submitted to the CDBL Participant from time
to time for dematerialization;
- (d) Ensuring at all times that the securities to the credit of my/our
account are sufficient to meet the instructions issued to the CDBL
Participant for effecting any transaction /transfer.
- (e) Informing the CDBL Participant at the earliest of any changes in
my/our account particulars such as address, bank details status,
authorizations, mandates, nomination, signature, etc.
- (f) Furnishing accurate identification details whilst subscribing to any
issue of securities.
- 5. I/we shall notify the CDBL Participant of any change in the particulars set
out in the application form submitted to the CDBL Participant at the time of
opening the account or furnished to the CDBL Participant from time to time at
the earliest. The CDBL Participant shall not be liable or
responsible for any loss that may be caused to
me/us by reason of my/our failure to intimate such change to the CDBL
Participant at the earliest.
- 6. Where I/we have executed a BO Account Nomination Form
- (a) In the event of my/our death, the nominee shall receive/draw the
securities held in my/our account
- (b) In the event, the nominee so authorized* remains a minor at the time
of my/our death, the legal guardian is authorized to receive
/draw the securities held in my/our account.
- (c) The nominee so authorized, shall be entitled to all my/our account
to the exclusion of all other persons i.e, my/our heirs, executors and
administrators and all other persons claiming through or under me/us and
delivery of securities to the nominee in pursuance of this authority
shall be binding on all other persons.
- 7. I/we may at any time call upon the CDBL Participant to close my/our account
with the CDBL Participant provided no instructions remain pending or unexecuted
and no fees or charges remain payable my me/us to the CDBL Participant. In such
event I/we may close my/our account by executing the Account Closing Form if no
balances are standing to my/our credit in
the account. In case any balances of securities exist in the account the account
may be closed by me/us in one of the following ways:
- (a) By rematerialization of all existing balances in my/our account;
- (b) By transfer of all existing balances in my/our account to one or
more of my/our other account(s) held with any other CDBL Participant(s);
- (c) By rematerialization of a part of the existing balances in my/our
account and by transferring the rest to one or more of my/our other
account(s) with any other CDBL Participant(s).
- 8. CDBL Participant covenants that it shall
- (a) Act only on the instructions or mandate of the Account Holder or
that of such person(s) as may have been duly authorized By the Account
Holder In that behalf
- (b) Not effect any debit or credit to and from the account of the
Account holder without appropriate instructions from the Account Holder.
- (c) Maintain adequate audit trail of the execution of the instructions
of the Account Holder.
- (d) To honor or act upon any instructions for effecting any debit to the
account of the Account Holder in respect of any securities unless;
- (i) Such instructions are issued by the Account Holder under his
signature or that of his/its constituted attorney duly
authorized in that behalf;
- (ii) The CDBL Participant is satisfied that the signature of the
Account Holder under which instructions are issued matches with
the specimen of the Account Holder or his/its constituted
attorney available on the records of the CDBL Participant;
- (iii) The balance of clear securities in the Account Holder's
account are sufficient to honor the Account Holder's
instructions.
- (e) Furnish to the Account Holder a statement of account at the end of
every month if here has been even a single entry or transaction during
that month, and in any event once at the end of each financial year. The
CDBL Participant shall furnish such statements as such shorter periods
as may be required_ by the Account Holder on payment of such
charges by the Account holder as may be specified by the CDBL
Participant. The Account Holder shall scrutinize every statement of
account received from the CDBL Participant for the accuracy and veracity
thereof and shall promptly bring to the notice of the CDBL Participant
any mistakes, inaccuracies or discrepancies in such statements.
- (f) Promptly attend to all grievances /complaints of the Account holder
and shall resolve all such grievances /complaints as it relate to
matters exclusively within the domain of the CDBL Participant within one
month of the same being brought to the notice of the CDBL Participant
and shall forthwith forward to and follow up with CDBL all other
grievances /complaints of the Account holder on the same being brought
to the notice of the CDBL Participant and shall endeavor to resolve the
same of the earliest.
- 9. The CDBL Participant shall be entitled to terminate the account relationship
in the event of the Account Holder.
- (a) Failing to pay the fees or charges as may be mutually agreed upon
within a period of one month from the data of demand made in that
behalf;
- (b) Submitting for dematerialization any certificates or other documents
of title which are forged, fabricated, counterfeit or stolen or have
been obtained by forgery or the transfer whereof is restrained or
prohibited by any direction, order or decree of any court or the
securities and Exchange Commission;
- (c) Commits or participates in any fraud or other act of moral turpitude
in his /its dealings with the CDBL Participant;
- (d) Otherwise misconducts himself in any manner.
- 10. Declaration & Signature:
I/We confirm that the information given above is true and complete and agree
to comply with the terms and conditions stated in the attached Agreement and
also agree to comply with the rules governing customer accounts with Green
Delta Securities Ltd. This agreement shall apply to each and every
account/product of whatever nature hereinafter opened or
continued in the same name(s) by the House its successors or assigns. I/We
hereby acknowledge that we have read and understood the terms and conditions
related to the above service request mentioned here and agreed to comply
with them. I/We also hereby acknowledge that, we are fully aware of the
associated risks of using the channels for any types of
financial and non-financial transactions and also agreed to bear that risk.
I/We also accept that, use of this services is subject to compliance of
prevailing regulations and schedule of charges/pricing of Green Delta
Securities Ltd.