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| Privacy Policy |
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CBSL is dedicated to provide the Client the comfort and
confidence so that we can serve better clients needs and
requirements. CBSL respects and protects the privacy of those
who visit or Use our Website/Portal. These provisions apply to
all existing customers and prospective customers. However, in
case of customers who are no more active/deactivated the
provisions as applicable till the time they were active would be
applicable CBSL has taken all necessary measures to protect the
confidentiality of the information and their transmission under
the Website/Portal and it shall not be held liable for
disclosure of the confidential information, unless gross
negligence is established on the part of CBSL .
The Client authorizes that information so furnished to CBSL by
accessing the Website/Portal, the same shall be used among other
things for customer verification, provision of products and
services, for personalization of products or services, marketing
or promotion of financial services or related products or for
creation of statistical information, statistical analysis or
credit scoring, enforcement of your obligations, or that of our
associates and affiliates, which will in turn help us provide
you a better quality of service. However, the client is free to
volunteer any other information that the Client may feel the
CBSL should know, but the security and confidentiality as per
this policy is guaranteed only to the information that we may
directly ask from you.
The Website/Portal may provide links to third party websites in
the process of conducting the website trading business. CBSL
shall not be responsible for the information collected from such
linked websites of third parties and for any actions arising
thereof. It is the clients’ sole responsibility to review the
privacy policy of such parties. CBSL undertakes not to disclose
the information provided by the Client to any person, unless
acting under good faith that such action is necessary to
- enforce the terms and conditions; and/or
- protect and defend our rights or property, and/or
- confirm to legal requirements or comply with legal process
, and/or
- act to protect the interest of our members, or others.
The Clients agrees that failure to comply with the disclosure
norms while accessing/using the Website/Portal facilities
/activities shall be deemed as a serious breach of these terms
and conditions and shall entitle CBSL to terminate the online
services without prejudice to any damages to which it may be
entitled. The representations and/or authorization once given
herewith by the Client shall be deemed to be of a continuing
nature and shall bind the Client from date of execution of the
Agreement pertaining to trading through the Portal till
termination of the same. The Client herewith represent as
follows:
- The client agrees that all transactions shall be entered
into by the Parties as Principal and CBSL shall have no
fiduciary duty towards the Client whatsoever notwithstanding
that there may be an existing relationship between the
Parties.
- The client shall comply with all necessary approvals for
entering into Website/Portal trading transactions as may be
required.
- The Client shall take all necessary steps to authorize
execution, delivery and performance pertaining to the
transactions while ensuring that the same are not conflicting
or violating any law or regulatory requirements as applicable.
- The Client shall keep CBSL informed of any action, Suit or
legal proceeding before any court, tribunal, government body,
agency or official or any arbitrator.
- All information furnished by or on behalf of the Client to
CBSL shall as of date be true, accurate, complete and not
misleading in any material respect. The Client shall be
responsible for intimating any material change which might
have a effect on any of the transactions.
- The Client agrees not to use, transfer, distribute or
dispose of any information contained in the Website/Portal in
any manner that could compromise or imperil the interest of
CBSL or its associates or affiliates.
- The Client agrees to protect the proprietary rights of
CBSL during and after the terms of the Agreement and to comply
with all reasonable written request or its supplier or content
or otherwise to protect their and others contractual,
statutory and common law rights in the Website/Portal.
- The Client shall not copy, reproduce, distribute, modify,
transmit, perform, decompile, disassemble, publish or create
works from or in any way use the services in violation of
terms and conditions.
- The client shall not rent, lease, sell, sublicense or lend
any other person access to the Website/Portal or services
through the Website/Portal.
- The Client agrees not to indulge in fraudulent, abusive or
illegal activity not limited to any activity designed or
intended to fraudulently obtain access/use to the
Website/Portal.
- The Client shall hold CBSL harmless for any and all
claims, actual or perceived, caused directly or indirectly by
regulatory restriction, exchange regulation, virus attacks,
equipment failure, system failure, security failure,
unauthorized access, suspension of trading war, strike from
executing any order, instruction and direction. Client shall
not be compensated for lost opportunities viz. notional
profits on orders, instructions, directions which could not be
executed.
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CBSL’s limitation of liability
CBSL shall not be liable for any
inaccuracy, error or delay in or omission of:
- any loss or damage arising from or occasioned by any
such inaccuracy, error, delay or omission, non performance
or interruption in any data, information or message due to
force majeure viz. flood, weather, earthquake or other
acts of God, fire, war, insurrection, riot, labour
dispute, accident, action of government, communication,
power failure, equipment or software malfunction or any
other cause of action beyond the control of CBSL.
- transmission or delivery of any such data or
information or message as mentioned hereinabove.
- the Client shall notify CBSL in writing immediately of
any loss, theft, unauthorized use, failure to receive
message, failure to receive confirmation of execution or
any other inaccurate information pertaining to balances,
securities positions or transactions, failing which CBSL
nor its officers, directors, employees, agents can or
shall be responsible for any claims with respect to the
same.
- under no circumstances shall CBSL nor its employees,
directors and third party agents be involved in creating,
producing, delivering or managing the services nos. shall
be liable for any direct, indirect, incidental, special or
consequential damages or any damages whatsoever, including
punitive or exemplary (including but not limited to
damages arising out of virus attacks, personal injury,
negligence, loss of profits, loss of data or business
interruption, loss of privacy or any pecuniary loss or
arising out of the inability to use the Website/Portal or
any links or arising from interruption suspension or
termination of services or failure to comply with any
instructions for software installation whether based on
contract, tort, strict liability or otherwise.
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CBSL further undertakes
- CBSL shall transfer to and from the account of the
Client on the basis of order, instruction, direction
either standing or specific only from a person on being
duly authorized by the Client.
- CBSL reserves the right to add, amend, revise, suspend
or cancel in whole or in part any of the website/portal
services available through the website/portal by posting
appropriate notice in advance on the Website/portal;
- All services shall be made available on best effort
basis to the Client;
- CBSL may introduce new services in relation to the
website/portal from time to time.
- CBSL may entertain change in user access on receipt of
a written mandate in the format prescribed, if any, by
CBSL from time to time.
- The terms and conditions shall survive the termination
of any transaction and any failure or delay in exercising
any right, power or privilege in respect of the terms and
conditions is not to be presumed as a waiver of any of
right, power or privilege unless expressly stated so.
- In the event of any provision or condition of the
terms and conditions being held invalid or enforceable by
reason of any law, rule, administrative order or judicial
decision by any court or regulatory or self regulatory
agency or body shall be so only pertaining to that
particular provision or conditions while the remaining
provisions or conditions remain unaffected.
- The facilities granted to the Client under the Website
/portal are not transferable under any circumstances.
- CBSL may disclose Confidential Information as required
to Comply with binding orders of Government entities that
have jurisdiction over it or as otherwise required by law,
provided that the Receiving Party (i) gives the Disclosing
Party reasonable written notice to allow the Disclosing
party to seek a protective order or other appropriate
remedy (except to the extent the Receiving Party’s
compliance with the foregoing would cause into violation
of a Court order or other legal requirement), (ii)
disclose only such information as is required by the
government entity or otherwise required by law, and (iii)
and uses commercially reasonable efforts to obtain
confidential treatment for any Confidential Information so
disclosed.
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Events of default & Termination
Following are the list of events that constitutes an event
of default which may lead to termination of the
Website/Portal services:
- failure by Client to comply with the terms and
conditions specified hereunder and if not remedied on
giving / issuance of reasonable notice .
- failure to make good, the payments due arising out of
the website/portal transactions.
- on CBSL becoming aware of any incorrect or misleading
information made by the Client.
- on a resolution passed for winding up (other than
pursuant to a consolidation, amalgamation or merger);
- on being declared an insolvent;
- on instituting a suit against the Client seeking
insolvency or bankruptcy and which, if not dismissed
within 30 days of presentation or on judgement of
insolvency or bankruptcy;
- on being liable in the position of a secured party
wherein all the assets of the Client are disposed of or
not dismissed, discharged, stayed or restrained within 30
days thereafter;
- on becoming subject to appointment of any
administrator, provisional liquidator, conservator,
receiver, trustee, custodian, or others pertaining to all
its assets;
- on any action being taken in furtherance of any of the
above mentioned acts
In the alternative, the Client may terminate the
Website/Portal services by giving one months written
notice and the same shall be effective on CBSL
communicating its consent in writing. Such termination
shall be without prejudice to the execution of all
outstanding transactions entered into between the parties
and CBSL shall be entitled to receive all fees, other
monies becoming due on date of such termination. However,
CBSL reserves its right to interrupt, suspend or
terminate, at any time, without specifying any reasons,
the access of the Client to the Website/Portal services by
serving appropriate notice of the same on the best effort
basis without assigning any reason and without being
liable for any loss/damages/cost of any nature whatsoever
to the Client. The closure/freezing of the accounts with
CBSL shall be exercised only if there are no obligations
pending to be met by the Client towards either CBSL and/or
Affiliates.
The Client agrees that the proprietary and intellectual
property rights pertaining to the website/portal
transaction are solely the property of CBSL and any
infringements upon any copyright, trademark or other
contractual, statutory or common law rights shall be taken
up to the fullest extent of law including the seeking of
criminal prosecution. The Client agrees and acknowledges
that the software underlying the services as well as other
internet related software which are required for accessing
service are the legal property of the respective vendors.
The permission given by CBSL to access the services shall
not convey any patent, copyright and licence, proprietary
or ownership rights or other intellectual property rights
in the above software.
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