i-Broker

 
 
Terms & Conditions

(TERMS AND CONDITIONS FOR OPENING A BROKERAGE ACCOUNT)

DECLARATION / AGREEMENT

I/ We the undersigned whose information is given in the Brokerage Application Form hereby request to be registered as a client of LankaBangla Securities Limited, to open a brokerage account in my/our/company name. I/We further agree and confirm that the account hereby requested to be opened by me/us shall be held and be governed by the terms and conditions of this agreement as provided hereinafter and as may be modified from time to time by LankaBangla Securities Limited and that I/we/company name have/has the necessary authority and permission to enter this agreement.

 

TERMS AND CONDITIONS

Instruction: A written instruction shall be given to LankaBangla Securities Limited from time to time to purchase and/or sell investments (which shall mean and include stocks, debentures, mutual funds and private placement or any other similar financial instrument as may be made available from time to time) on behalf of the account holder. On receipt of such instructions along with a cash deposit or delivery of shares, LankaBangla Securities Limited shall, so far as LankaBangla Securities Limited 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) LangkaBangla Securities Limited shall have an absolute discretion to accept or reject purchase/sell instructions and (III) accounts 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 below).

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. Trades may fail where non-agreed lot sizes are delivered).

 

Joint Accounts: If this is a joint account, unless the account holders notify LankaBangla Securities Limited otherwise and provide such documentation as LankaBangla Securities Limited may require at its sole discretion, the brokerage account(s) shall be held by the account holders jointly with rights or survivorship (payable to either or the survivor). Under these terms and conditions each joint account holder irrevocably appoints the other as attorney in fact to take all action on his or her behalf and to represent him or her in all respects in connection with this agreement. LankaBangla Securities Limited shall be fully protected and indemnified in acting but shall not be required to act upon the instruction of either of the account holder, who shall be liable, jointly or severally, for any amounts due to LankaBangla Securities Limited pursuant to this agreement, whether incurred by either both of the account holders

 

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, which LankaBangla Securities Limited, is not in any way whatsoever liable and/or responsible for the share dealings of the account holder.

 

Limit Orders: While LankaBangla Securities Limited will endeavor to purchase or sell the investment within the limits of the prices that
may be notified by the account holder, LankaBangla Securities Limited does not guarantee or assure that the transactions will be mate realized on such notified limits, LankaBangla Securities Limited will always endeavor to obtain the best price.

 

Agents: LankaBangla Securities Limited 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. LankaBangla Securities Limited may seek and act on an opinion from any lawyer, accountant or professional adviser or other expert and shall not incur any liability by acting upon such opinion.

 

Associate Companies: LankaBangla Securities Limited may purchase and / or sell investment on behalf of the account holder by placing order with itself and other company whether acting as underwriter(s), investment manager(s), merchant or commercial bank(s), registered or licensed deposit-taker(s), broker (s), dealer(s) or otherwise, or with any other broker(s) and dealer(s) as LankaBangla Securities Limited in its sole discretion may decide.

 

All Rules and Regulations of the Stock Exchange(s) : All transactions duly concluded through and recognized by the Dhaka & Chittagong Stock Exchange Limited (hereafter DSE & CSE) is governed by the respective rules of DSE & CSE relating to trading and settlement in particular and will be binding on both the parties concerned.

 

Payment and Disclosure: LankaBangla Securities Limited shall not be obliged to make any payment on behalf of the account holders. LankaBangla Securities Limited may disclose information regarding the account holder or his/her dealings in relation to this agreement to any department of the government or public, body upon request, whether or not such request is in fact legally enforceable, and LankaBangla Securities Limited will not be liable in any way to account holder for doing so.

 

Cancellation provisions: LankaBangla Securities Limited is authorized, in its absolute discretion, should the undersigned die or should LankaBangla Securities Limited for any reason whatsoever deems it necessary for its protection, without notice, or for any reason 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 LankaBangla Securities Limited as a broker/member of the DSE & CSE the account holder shall be indemnified if and only as provided by the Rules and Regulation of the DSE & CSE.

 

Confirmation and Settlements : LankaBangla Securities Limited 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 LankaBangla Securities Limited shall determine) surfing forth (i) details of the trade date, value date, settlement date, quantity, price, commission rate and DSE Howla' number equivalent provided also that the account holder does hereby agree and undertake to confirm in writing before- hand of all its/their instructions.

 

Fees and expenses: The account holder will pay a brokerage commission of, and any other related expenses as charged 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, acknowledges and accepts that the rate of commission may be changed from time to time at the discretion of LankaBangla Securities Limited.

 

Set-off: LankaBangla Securities Limited shall be entitled to, in respect of all commission, costs, charged or expense, set off from any monies from time to time held by LankaBangla Securities Limited for the account holder and if such monies are insufficient for the purpose, to sell any investment held by LankaBangla Securities Limited or any of its agents on behalf of the account holder without notification, recourse or instruction form the account holder.

 

Period: This agreement shall be remain in force for a period of.................... months/years from the date of signing.

 

Terminations: This agreement will stand terminated:

  1. Upon the expiry of the period of this Agreement unless renewed upon mutual agreement between LankaBangla Securities
    Limited and the Account Holder.
  2. Before the expiry of the period of this Agreement, if either LankaBangla Securities Limited or the Account Holder Gives....................... months’ notice, Termination shall not absolve the parties from completing accounts and adjusting any Outstanding dues or respective rights and obligations under this agreement.
  3. If the account holder fails to make payment for any transaction upon due notice for a period of.............................days.

 

Assignment: The benefits/rights and burdens/obligations of this agreement are capable of assignment by both the account holder And LankaBangla Securities Limited without the consent of the other but the notice of assignment must be given to the other in
writing.

 

Force Majeur: LankaBangla Securities Limited 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 force majeure or circumstances beyond its control.

 

Forged Shares: LankaBangla Securities Limited shall not be liable or responsible for any shares that are found to be forged. However, LankaBangla Securities Limited will make every attempt to replace the forged shares from the seller.

Law: The terms and conditions contained herein shall be governed by and be construed in accordance with the laws of Bangladesh.

Notices:

  1. All notices, instructions or other communications shall be given in English and in writing (facsimile, telex, telegram, cable or letter) or orally and shall be sent to LankaBangla Securities Limited 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 here to in writing.
  2. Proof of delivery or dispatch shall be:
  • in the case of a letter : dispatch of the letter duly stamped and addressed
  • in the case of facsimile, telex, telegram, or cable on the day of dispatch with physical or actual confirmation.
  • All verbal notices, instructions, or, other communications should be confirmed in writing within 24 hours.

 

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 Due: For all purposes, including any legal proceedings, a certificate by any of LankaBangla Securities Limited 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 Resolution of Dispute: In-case of any dispute arising between the LankaBangla Securities Limited and the account holder in connection with the interpretation or enforcement of the terms and conditions contained herein, attempts should be made to settle the matter amicably, in case of failure to settle the matter amicably, 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. The arbitration shall be conducted in accordance with the Arbitration Act, 2001.

 

I/We have read the terms and conditions contained herein above, and having agreed with such terms and conditions I/We put my/our/company seal and signature on this the day of......................... 20.............

 

Terms and Conditions (Credit Facilities)

 

DEFINITIONS

“SECURITIES ACCOUNT” Shall mean the account opened by the CLIENT with the BROKER to deposit/Sell/buy securities with the Broker.

“APPROVED SECURITIES” Shall mean the securities purchased into the SECURITIES Account.

“PORTFOLIO VALUE” means total market value of all the stocks in the SECURITIES Account.

“MARGIN CALL” Shall mean request the “CLIENT “to deposit money or share to bring the Debit Balance below ... ... % of the portfolio Value within 24 Hours.

“DEBIT BALANCE” Shall mean the total value of cash owned by the CLIENT together with any interest to the BROKER in the SECURITIES ACCOUNT for securities purchased into the account".

 

TERMS AND CONDITIONS

 

  1. This will strictly be a short-term facility and valid up-to................................................
  2. The “broker” will have absolute discretion to accept or decline any security, against which credit facility is granted and shall reserve the right to make changes to their list of “approved securities” at any given moment.
  3. Using the credit facility the Client may purchase quoted securities through the Broker into the “Securities Account” to a maximum value of.... % of the “Portfolio value” or Tk .................................... whichever is lower. The Client shall at all 􀆟mes be responsible to maintain strictly the maximum limit of the “Debit Balance” at any given 􀆟me. If Debit balance goes above............% of portfolio value due to fluctuation in the market or any other event, LBSL will issue a “Marin Call” to the client.. Margin Call could be writing or via telephone call.
  4. In the case of “Broker” omitting a particular security/securities from the list of “approved securities” the Client shall accordingly adjust the “Portfolio value” or the “Debit balance” within two market days.
  5. If client doesn’t response to Margin Call, in that case LBSL will sell out whatever shares as the Broker see fit to regularize the “Debit balance” to..........% of the “portfolio value.”(+/-5% deviation is accepted in case of adjustment).
  6. If the “Debit balance” reaches to...........% of portfolio value due to a sudden fall in the market or any other event then in such a case without any notice in that trading day or next day, LBSL will sell out shares of any company what-so-ever as it sees fit to make the Debit Balance nil. Any residual shares will remain in the account and will be available to client.
  7. If the Client exceeds the value of the “Debit Balance” above the stipulated limit and / or violates any other terms and conditions/rules/requirements as laid down by the “Broker” or any regulatory authority from 􀆟me to 􀆟me, the Broker shall have absolute discretion at the “Client’s risk to sell/buy any or all shares or securities of any Company whatsoever in the Client’s ”Securitas Account “ without any consent of any form from the Client in order to adjust the Debit Balance of the ”Securities Account”. In the event the Portfolio value of the “Securities Account” becomes inadequate to regularize the “Debit Balance”, the Client shall be under obligation to make cash payment to se􀆩le any shortfall.
  8. The Client shall pay brokerage commission for all transactions i.e., buy and sell, in the “Securities Account”. The Client shall also pay brokerage commission for all transactions carried out in order to regularize the “Securities Account” .Rate of brokerage will be fixed by the “Broker” and can change from 􀆟me to 􀆟me.
  9. In the “Securities account” if client enjoy margin facilities, in that case, highest limit to buy a single stock is Tk....................................or..........% of the portfolio value whichever is lower.
  10. 10 “Broker” shall have the authority to give notice to the client to adjust the debit balance in “Securities Account” within 20 trading days for whatever reason which “Broker” reserve the right to divulge to Client. If Client doesn’t respond to such notice “Broker” shall have absolute discretion at the Client’s risk to sell/buy any or all shares or Securities in any company whatsoever in the Client’s “Securities Account”. Without any consent of any form from the client in order to adjust the Debit Balance of the “Securities Account”.
  11. “Broker” will charge .........% P.A. Interest on the clients account for any debit amount, calculated on a daily basis. LBSL reserve the right to increase/decrease the interest rate by giving 7 trading days’ notice to Client.
  12. The “Securities Account” will be fully operated (All Buy/Sell decisions) by the client at all times other than in the instance of “Broker” regularizing the account which has been explained in the clause 5, 6, 7 & 10.
  13. The “Broker” shall have the right to change, rectify, include any terms and conditions in addition to the above at any 􀆟me with due notice to the client.

 

NOMINEE

In the event of the death of one of the joint account holder, the survivor: and on the death of sole account holder the nominee

Or successor shall be the beneficiary of the transactions.

 

GOVERNING LAW

All transactions shall be subject to the Rules and Regulations of the Securities and Exchange Commission of Bangladesh, Dhaka

Stock Exchange Ltd. and other prevailing laws and regulations of Bangladesh and in particular the authority herein- after granted

By the client to the BROKER.

  1. If Client (s) is/are an Individual/Individuals

 

Central Depository Bangladesh Limited (CDBL)

Depository Account (BO Account) opened with CDBL Participant

Terms & Conditions - By Laws 7.3.3(c)

Dear Sir,

Please open a Depository account (Bo Account) in my/our names (s) on the terms and conditions set out below. In consideration of

LankaBangla Securities Limited (the “CDBL Participant”) Opening the account providing depository account facilities to me/us/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 Opening 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 keep the securities in an Omibus Account of the CDBL Parti The CDBL Participant shall however ensure that may / 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:
    1. The veracity of all statement and particulars set out in the account opening form, supporting or accompanying Documents.
    2. The authenticity and geniuses of all certificates and / or documents submitted to the CDBL Participant along with or in Support of the account opening form or subsequently for dematerializati
    3. Title to the securities submitted to the CDBL participant from time to time for dematerializati
    4. 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.
    5. Informing the CDBL Participant at the earliest of any changes in my / our account particulars such as address bank details, status,
    6. Authorizations, mandates, nomination, signature, etc.
    7. Furnishing accurate identification details whilst subscribing to any issue of securities.
  5. I/we shall notify the CDBL Participant of any change in the particular’s 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
    1. In the event of my/ our death, the nominee shall receive/ draw the securities held in my/our account.
    2. In the event the nominee so authorized remains a minor at the time of / our death, the legal guardian is authorized to Receive/ draw the securities held in my/ our account.
    3. 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 calming 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 provide no instructions Remain pending or unexecuted and no fees or charges remain payable by 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:
    1. By remateralization of all existing balances in my/our account.
    2. By transfer of existing balances in my / your to one more of my/your other accounts (s) held with any other CDBL Participants(s).
    3. By rematerialization of a part of the existing balances in my/your 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:
    1. 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 benefit.
    2. Not affect any debit or credit to and from the account Holder without appropriate instructions from the Account Holder.
    3. Maintain adequate audit trail of the execution of the instructions of the Account Holder.
    4. Not honor or act upon any instructions for effecting any debit to the account of the Account Holder in respect of any Securities unless.
      1. Such instructions are issued by the Holder under his signature or that of his/ its constituted attorney duly authorized in That behalf
      2. The CDBL Participant is satisfied that the signature of the Accounts 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.
      3. The balance of clear securities available in the Account Holder’s account are sufficient to honour the Account Holder’s instructions.
      4. Furnish to the Account Holder a statement of account at the end of every month if there has been even a single entry of transaction during that month, and in any event once at the end of each financial year, the CDBL Participant shall furnish such statement at 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.
      5. Promptly atend to all grievances / complaints of the Account Holder and shall resolve all such grievances / complaints as it Relates to matters exclusively within the domain of the CDBL Participant within one month of the same being brought to the notice of 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 at the earliest.
  9. The CDBL Participant shall be entitled to terminate the account relationship in the event of the Account Holder.
    1. Failing to pay the fees or charges as may be mutually agreed upon within a period of one month from the date of demand made in that behalf.
    2. 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.
    3. Committing or participating in any fraud or other act of moral turpitude in his / its dealings with CDBL Participant.
    4. Otherwise misconducting himself in any manner.
  10. Declaration and Signature.

 

I/we hereby acknowledge that I/we have read and understood the aforesaid terms and conditions for operating Depository Account (BO) Account) with CDBL Participant and agree to comply with them