i-BROKING &i-TRADING TERMS & CONDITIONS
Declaration/Agreement
I hereby request to get the facilities of i-Broker
Application to maintain my portfolio information including fund withdraw
request, fund deposit through e-commerce platform, online IPO etc. and trade
through the Internet Trading Service (ITS) as a registered client of
LankaBangla Securities Limited (LBSL). I further agree and confirm that my
account is opened and the internet trading executed is governed by the terms
and conditions of the agreement placed by the articles following the stock
exchange regulatory bodies.
Placing and validation of orders of the designated clients:
(i) The designated clients only having valid Special
Account and Agreement with the permitted member as per the regulations shall be
eligible to place order through the ITS.
(ii) Every client shall use the User-id and the
password to access the ITS module.
(iii) The password shall be the key to the access and
that respective client shall be liable for any misuse of the password. Any
person of the permitted member found responsible for misuse of the password
shall be prosecuted under appropriate laws, rules and regulations.
(iv) The permitted member shall be responsible for setting
the limit for trade for each designated client for both scrip and money. If the
order is within the limit, it will be automatically routed to the CSE’s main
trading system for matching according to set algorithm. Any error or omission
shall not indemnify the permitted member from the responsibility of settling
any trade validated against wrongly set limit or otherwise.
(v) In case of margin arrangement between the
designated client and the permitted member, the limit set by the member for the
client shall also commensurate with the Margin Rules, 1999.
1.
User ID and Password
:
Upon becoming an Internet Customer, client has to request through dealer to enroll for internet clients and get the temporary credential over
mail which will allow him/her to access his/her Account information. Use of the Password assigned to client will indicate his/her acceptance
of the terms and conditions of Internet Broking Agreement. System will force him/her to change the temporary password during first login. Each time client access
his/her Account through Internet Application, it will be required to enter the Password. If the system will remain ideal for 5 minutes, session of the interface will
be disconnected and if required, client has to insert User ID and Password again to enter into Internet Banking site. If client insert wrong password for consecutive
three times, his/her User ID will be locked. If the Password is lost or stolen, or is known by another individual, client must inform ICT Division of
LBSL (Tel: 02-9563901 or support.sys@lbsbd.com) immediately to issue a new password. Failure to notify LBSL promptly could result in loss of information/funds.
Customer is responsible for maintaining the confidentiality of Customer's Password and any breach of confidentiality shall promptly be reported to LBSL.
If client wants to do a Multi Factor Authentication, system will send an additional onetime
password (OTP) to his/her mobile for execution of the same to ensure more secured of the transaction.
2.
Business Days
:
Business days for the LBSL are Sunday through Thursday, excluding holidays. You may access the accounts through iBroker 24 hours a day,
seven days a week. Any transaction on public holidays and 1st July and 31st December being bank holiday, the transaction value date will be
the next working day. On each working day any transaction after business hour will take effect on the next working day. LBSL will not be
obliged to apply any back value for those transactions.
3.
Computer Equipment and Software
:
Customer is solely responsible for the maintenance, installations and
operation of Customer's computer or iBroker Apps in smart phones and for the software used in accessing Internet application and download reports,
LBSL shall not be responsible for any errors, deletions, or failures that occur as a result of any Malfunction of Customer's computer/Mobiles or
software, nor will LBSL be responsible for any computer or mobile virus that affects Customer's computer/mobile or the software while using Internet
application, or by accessing Internet application through the World Wide Web(www). Customer agrees that LBSL shall not be liable for any indirect,
incidental or consequential costs, expenses or damages (including lost savings or profit, lost data, business interruption or attorney’s fees).
4.
Online Transaction:
Customer will be fully responsible for online transactions through execution services like fund request, fund deposit through e-commerce
platform, online IPO Application, Share Sell/Buy execution etc.
5.
Unauthorized Transactions & Error Resolution:
If Customer believes unauthorized transactions are being made from Customer's Account, Customer should changes the Password immediately.
If Customer feels that any statement or receipt is wrong, or wishes to have more information about a Transfer listed on a statement or receipt, he/she should contact LBSL in writing or over telephone.
6. Copy/Missing
of Information:
LBSL will not be liable for copy/missing of your valuable information
like User ID, Password, Bank Account No, BO ID, Credit Card No. etc. by
Phishing, Malware, Trojan, Sniffing or Man-in-the-Middle attack on your
computer/Mobile.
7. Mobile
Phone:
Keeping of Mobile phone is mandatory for the Execution Services like
Multi factor Truncation (MFA), Fund Deposit etc. System will send One Time
Password (OTP) to your mobile for execution of the services.
8. Applicable
Law:
This Agreement is subject to all applicable operating circulars of
Bangladesh Securities & Exchange Commission, DSE, CSE, CDBL and LBSL and
any other applicable provisions of Laws by Govt. This Agreement shall be
binding upon and insure to the benefit of the parties hereto and their respective
legal representatives, successors and assigns.
09. Anti-Money
Laundering:
Customers agree and confirm that he/she will not use this facility for
money laundering or violate any law of the land related to money laundering. LBSL
reserves the right to ask for clarification/information from the customer on
any Internet Trading (IB) related transactions and the customer would be
required to respond in writing to such queries within 7 working days.
10. Interruption
of Service:
LBSL may perform regular maintenance on its systems or equipment, which
may result in interrupted service. In case of unavailability of Internet
connectivity provided by vendor due to cutoff of submarine fiber may cause interruption
of service. Considering the web security, LBSL reserves the right to
discontinue the i-Broking service until resolution of problem.
11. Discontinuity
of part of services:
Services like utility bill payment, student tuition/session fees payment,
salary processing etc. that are depend upon the utility service
provider/agents/3rd party may be discontinued due to
termination of their agreement with LBSL.
12. Force
Measure:
It is acknowledged by the customer that the provision of the Internet
Banking service and website access to the accounts is dependent upon the
continued availability of communication, processing, function and other
facilities of the applicable systems, and LBSL cannot warrant such availability
at all times.
The service
can be interrupted due to several reasons like technical and other. LBSL cannot
always ensure access to the website. LBSL shall be entitled to suspend,
disconnect or discontinue the provision of the Internet Broking service or
website access.
In the event LBSL
suspends, disconnects or terminates the Internet Banking service or website
access to the account upon the occurrence of any event over which the LBSL has
no control, LBSL shall not be made liable for any loss or damage caused to the
client as a result of such suspension, disconnection or termination.
13. LBSL’s
Right:
LBSL reserves the right to prevent Customer's access to Internet Broking
in case of any instruction from Government, Regulatory Body etc. or any misuse
of the service.
The user shall ensure that Internet
Banking service will not be used for any purpose which is illegal, improper or
which is not authorized under these Terms.
14. Amendment:
This agreement may be amended at any time by LBSL and the revised
information will be made available at any LBSL office and will be published in
our website. Customer will be required to abide by these changes for future
transactions.
15. Assignment:
LBSL may assign the rights and delegate the duties under this agreement
to any present or future, directly or indirectly, affiliated company or to any
third party for performance.
16. Termination:
Either party may terminate this agreement by giving 15 days’ notice to
the other party. Any transaction made within these 15 days should be deemed to
have done by the customer. If LBSL terminates Customer’s access to Internet Broking
it reserves the right to immediately stop making transfers or payments from
Customer’s Account(s), including those Customer previously authorized.
I do hereby acknowledge that I have read and understood the
above terms and conditions and agree to comply with them.