Minimum Age and Other Restrictions: You must be a Citizen of India and 18 years of age or older to use the Site and the mobile application.It is not intended for those under the age of 18. Also Users by signing up onto the website and/or the mobile application also agree that they are Indian Nationals, Resident Indians, are tax residents of only India and are opening their investment account with us in a Single mode and Individual capacity. They also agree that they will provide only Residential address (Type of Address : Residential) under the address details requirement and its associated address proof. If the above details are not met or are not accurately provided we reserve the right of refusal in opening the user account and cancel the account opened under false/incomplete details.You represent and warrant that you are 18 years of age or older and are fully able and competent to enter into, and abide by, the contract created by the Terms and Conditions. User further warrants that it is using the Platform for legitimate investments only and shall at no time , misuse services provided by Piggy for any illegitimate or illegal purpose or in contravention of any legal and statutory terms,rules and regulations as specified by government of India and market regulators, as updated from time to time via market vide circulars and gazettes.
Terms and Conditions Cover All Users: By using the Site and the mobile application, you agree to be bound by the Terms and Conditions, whether you are a "visitor" (which means that you simply browse the Site and the mobile application) or you are a "registered user" (which means that you have an Investment Account with the Site and the mobile application to avail the Services or any part thereof, as provided on the Site and the mobile application). Each time you use the Site and the mobile application, the current version of the Terms and Conditions will apply. Accordingly, when you use the Site and the mobile application, you should check and review any changes since the last version. Please review carefully all of the Site and the mobile application's Terms and Conditions before agreeing to them and accessing the Site and the mobile application by reading through all of the sections appearing below and reviewing all of the linked Terms and Conditions:
"AMC" shall mean and include Asset Management Company.
"Piggy" or "us" or "we" or "our" shall mean and refer to Valuevest Technologies Pvt Limited.
"User/user", "You/you", "Your/your" means any person or visitor or registered user who views, browses, accesses or uses the Site and the mobile application.
"Use" or "Using" means to browse, access, view, copy, availing Services or other benefit from using the Site and the mobile application.
"Services" means the service of access to the distribution network of Piggy through its online technology platform for the purchase, switch and redemptions of units of mutual funds listed on the Piggy Website and mobile application by users, on the terms and conditions as mentioned.
"Force Majeure Event" means any event due to any cause beyond the reasonable control of Piggy, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.
"the Site" or "Website" or "Piggy Website" or “Piggy” means www.Valuevest.in which includes, any other platform where the Site can be accessed from on mobile phones and such other devices, like, mobile application (whether or not on android or IOS) or any other platform as provided by Piggy.
"Registered User/Registered user/ registered user" shall mean and include the visitors who have Investment Account with the Site and the mobile application to avail the Services or any part thereof, as provided on the Site and the mobile application.
"SIP" shall mean Systematic Investment Plans
"NAV" shall mean Net Asset Value.
"Account" shall mean the account opened with Piggy by registered users, for use of the Site and the mobile application or making investment through the Site and the mobile application.
"Vendors" shall mean all third-party service providers employed by either Piggy or AMCs to deliver Services to users. Such vendors include, but are not limited to payment gateway provider, web-based transactions aggregator etc.
User acknowledges that in accessing and using the Services offered by Piggy, user may utilize the content and Services offered on the Piggy website ,mobile application or whatsoever platform by whatsoever name it be called.. User agrees to follow the terms and conditions for the use of Piggy website and mobile application as may be specified on the Site and the mobile application and updated from time to time. Notwithstanding such acceptance of the Piggy website and mobile application Terms, user acknowledges and agrees to the following, that:
i. Piggy is an AMFI registered distributor of mutual funds.
ii. User Investment Account will be activated after Piggy completes the verification process on the personal information provided at the time of enrolment and in accordance with the
iii. User shall not to copy, reproduce, sell, re-distribute, publish, enter into a database, display, perform, modify, transmit, license, create derivatives from, transfer or in any way exploit any part of any information, content, materials, services available from or through the Site and the mobile application, except that which user may download for personal, non‐commercial use.
iv. User will not use the Site , mobile application or any interface as provided by Piggy for any purpose that is unlawful, or prohibited by these Terms. User also agree that user will not use the Site and the mobile application in any manner that could damage, disable or impair the Site and the mobile application or interfere with any other person’s use or enjoyment of Piggy website and mobile application.
v. The software and hardware underlying the Site and the mobile application as well as other internet related software which are required for accessing the Site and the mobile application are the legal property of the respective vendors. The permission given by Piggy to access the Websites will not convey any proprietary or ownership rights in the above software/ hardware. User agree that User shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software/hardware underlying the Site and the mobile application or create any derivative product based on the software / hardware.
vi. The data and information provided on the Site and the mobile application does not constitute advice and shall not be relied upon by the user while making investment decisions.
vii. Piggy does not, and is not obliged to, offer all mutual fund schemes for investment. By limiting the number of schemes on the Site and the mobile application, Piggy does not make any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied.
viii. User agrees that the information and assistance provided on the Piggy website are true to the knowledge of Piggy and should not be construed as investment advice, and that Piggy shall have no liability for any discrepancy in any such information or assistance.
ix. Piggy is not responsible for the availability of content or other services on third party sites linked from the Piggy website and mobile application. User agrees and is aware that access of hyperlinks to other internet sites are at user’s own risk and the content, accuracy, opinions expressed, and other links provided by these sites are not verified, monitored or endorsed by Piggy in any way. Piggy does not make any warranties and expressly disclaims all warranties express or implied, including without limitation, those of merchantability and fitness for a particular purpose, title or non‐ infringement with respect to any information or services or products that are available or advertised or sold through these third party websites.
x. Piggy has the absolute discretion to amend or supplement any of the Piggy website and mobile application Terms at any time without prior notice for such changes. Any such amendment shall be effective immediately. It shall be User’s responsibility to review these Terms and Conditions periodically for any updates/changes.
xi. An account may be created offline, without accessing the Piggy website. In the event User creates an investment account offline, user understands and acknowledges that these Terms and Conditions for use of the Piggy website and mobile application will continue to be applicable to user for the use of the Services.
xii. Mere use of the Website and mobile application, shall be construed as your intent to contract with us and shall constitute your binding obligations, with us.
xiii. User understands that it is user’s responsibility to check the Piggy website and mobile application Terms carefully before accessing or using or transacting on our website.
xiv. As long as User complies with these Terms and Conditions, we grant user a personal, non-exclusive, non-transferable, limited privilege to enter and use the Site and the mobile application. User acknowledges and understands that use of the Site and the mobile application shall be at your own risk and has the discretion of not using the Site and the mobile application.
xv. Piggy shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of the Piggy to perform any of its obligations under these terms and conditions or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a Force Majeure event and in such case its obligations shall be suspended for so long as the Force Majeure event continues.
xvi. All information, content, materials, products (including, but not limited to text, content, photographs, graphics, video and audio content) on the Piggy website and mobile application is protected by copyright in the favour of Piggy under applicable copyright laws and is also protected otherwise under general intellectual property law.
xvii. All information submitted by user to Piggy whether through the Piggy website and mobile application or otherwise shall be deemed to be the property of Piggy, and Piggy shall be free to use any ideas, concepts, know‐how or techniques provided by such users at the Piggy website, in any manner whatsoever.
xviii. Not all the products and services offered on Piggy’s website and mobile application are available in all geographic areas and user may not be eligible for all the products or services offered by Piggy on the Site and the mobile application. Piggy reserves the right to determine the availability and eligibility for any product or service.
Service(s) shall be availed in accordance with the Terms and Conditions mentioned herein. User agree that Piggy and / or the mutual fund and/or the vendors may at their sole discretion vary the terms and conditions or withdraw any of the facilities provided herein from time to time. User hereby irrevocably and unconditionally grants no objection to Piggy and the respective mutual funds and their vendors to collate the transaction details relating to the investments in mutual fund units done by user on the online technology platform of Piggy and transmit such transaction data to the concerned AMC / mutual fund or vendors for further processing of user transactions.
Access to the distribution network of Piggy for the transactions of purchase, switch and redemption of mutual fund units will be granted by Piggy only to registered users of Piggy, post the enrolment for the Services. User agrees and acknowledges that the Services provided herein are presently available in respect of select Mutual Funds only with whom or with whose vendors Piggy has entered into a separate arrangement. Registered users will be able to only purchase, redeem and switch mutual fund units through this service.
User shall provide the required details and the documents for the purpose of the registration and enrolment:
The above provided information/details shall be uploaded by the User in soft copy form on the Website at the time of enrolment. Once the information is received by Piggy, Piggy shall co-ordinate with the User, for obtaining self-attested hard copies from the registered users. Upon completion of the attestation requirements, the documents shall be provided to the concerned regulatory authority/AMCs or their vendors for the purpose of opening an account for the transaction to be made by the users.
Users agree and understand that no change of address, mobile no., e‐mail id and / or bank details can be allowed for such accounts, unless a duly signed hard copy of such written request is sent to the AMC / Mutual Funds or their vendors for signature verification and other formalities. Users agree that any and / or all information that may be provided by you to Piggy from time to time, including but not limited to contact information, address and tax‐related information or any other information required under existing or future KYC, CAN or other norms and laws, may be shared by Piggy with the mutual funds/AMCs or their vendors, legal and tax consultants in compliance with the extant legal provisions from time to time.
There may be an exit load applicable to certain mutual fund schemes which is mentioned in the respective offer documents including Scheme Information Document (SID) /Key Information Memorandum (KIM) and addendums issued thereto from time to time (collectively referred to as "scheme related documents"). User shall read all the scheme related documents before investing.
Investments from persons from the country other than India may not be permitted in certain mutual funds. Piggy/ AMCs/ their vendors/their respective trustee companies shall not be liable for rejection of an application by mutual funds, where the investor is a person from a country other than India or such other prohibited investor as may be specified in the respective scheme related documents from time to time.
Purchase requests made through Piggy’s online technology platform shall be processed by the respective mutual funds/AMCs only after funds sufficient to cover the purchase price and other costs and charges have been received by the respective mutual funds/AMCs. Payments towards the purchase price and other costs and charges shall be made by the registered users directly in the name of the respective mutual fund scheme(s) through the payment gateway made available by Piggy and/or vendors. If for any reason the mutual fund is unable to allow a transaction for purchase or redemption of the full quantity of units such as transacted by a registered user through the online technology platform of Piggy, the respective mutual fund/AMCs shall be entitled to process a lesser quantity of units being purchased or redeemed (as the case may be) by such registered user. In such a case, neither Piggy nor the AMCs, their respective trustees shall be responsible for the non‐execution of transactions for the entire quantity or the remaining quantity of units.
Transaction rights for SIPs will be pursuant to the registered user executing the instructions, in the manner and form as prescribed by Piggy and/or vendors and / or mutual funds on the online technology platform from time to time. The instructions will be applicable to all SIP transactions whether presently existing or to be opened in future. User agrees that, upon granting such instructions for SIP transactions, user will be bound by the terms of the relevant SIP scheme of the mutual fund to which user subscribes.
User agrees and acknowledges that any transaction done or purported to be done by user before the cut off times on a business day as may be intimated by Piggy to user from time to time, would be processed on the same day. Any transactions done on the online technology platform of Piggy after the prescribed cut off time will be deemed to be received on the next working day and will be processed accordingly.
User also acknowledges that in case any of the transactions given before cut off time are not processed on the same day due to any reason technical and otherwise, Piggy will not be responsible for the delay. Piggy however will try and process the transaction on a best effort basis.
User acknowledges that the units of the scheme shall be allotted, redeemed or switched, as the case may be, by the respective mutual funds / AMCs at the applicable NAV of the concerned mutual fund scheme as specified by Piggy and consistent with the terms of the Scheme. However, Piggy shall not be liable for any loss that may arise to user as a result of incorrect NAV applied on units allotted to user by the mutual fund.
User acknowledges that any transactions done on a holiday would be processed on the next business day and the NAV would be applicable as per the respective scheme related documents.
User acknowledges that transactions once placed cannot be cancelled. However, user can withdraw the mutual funds or the mutual fund units, under the following two options:
Upon such withdrawal of the mutual fund or the units of Mutual fund, the settlement amount towards the mutual fund or the units of Mutual fund shall be credited to the registered account of the user within 2-3 bank working days.
User acknowledges that any application for redemption, purchase or exchange or any other instruction must be correct, complete, clear and unambiguous in all respects and should conform to the prescribed procedure/documentation and regulatory requirements, failing which, Piggy /AMC/vendor reserve the right to reject the same and in such a case Piggy/AMC/vendor/trustee shall not be responsible for any consequence arising there from.
User has read and understood the contents of the Scheme related Document and the details of the scheme and you have not received or been induced by any rebate or gifts, directly or indirectly, in making investment. User hereby declares that the amount invested/to be invested by you in the scheme(s) of Mutual Fund (s) is derived through legitimate sources and is not held or designed for the purpose of contravention of any act, rules, regulations or any statute or legislation or any other applicable laws or any notifications, directions issued by any governmental or statutory authority from time to time.
User acknowledges and grants no objection to Piggy to do or place transaction requests for the User on the online technology platform of Piggy and at user’s own risk and cost, all or any of the following acts, deeds matters and things:
i. To forward user transaction data and requests to the respective mutual funds/AMCs/vendors with respect to the instructions and orders of sale, purchase, transfer, splitting and consolidation of mutual funds units.
ii. To transmit to the mutual fund and/or the corresponding AMC and/or their vendors, information relating to user nomination/changes in investment plan/ any other changes made through the online platform.
iii. To obtain and forward to the AMC/its Authorized Registrar user’s information as available in the KYC records, including user signature(s). User agrees that such records may be used by the AMC/Authorised Registrar for authorizing the transactions that may be submitted by user in physical/offline mode.
iv. To contact user regarding matters pertaining to the operation of user account including, but not limited to, servicing of users requests, communication of special offers, new product launches and product recommendations. This consent will override any registration for Do Not Call ("DNC") / National Do Not Call ("NDNC").
User agrees and acknowledges that it shall be the obligation of the AMC and not of Piggy to regularly send to the Registered Customer such communications as required under the SEBI Regulations.
While currently, Piggy charges a convenience fee of Rs 50 for the offered Services, user acknowledges that Piggy reserves the right to charge a different fees in the future for the Services or any other services offered by Piggy. Any such changes will be communicated by Piggy via email 30 days ahead of implementation, and will be displayed on the Piggy website. Under such circumstances, user has the option to transfer its assets out of its Account without incurring any costs payable to Piggy. User agrees and understands that any such charges/fees that Piggy may choose to levy will be in addition to those levied by the AMCs, if any. All fees, charges and reimbursement of expenditure shall be paid or made in full by user without any counter claim, set off or withholding. All liabilities and obligations of the registered user(s) hereunder to Piggy/mutual fund/AMCs/vendors/trustees of the AMC shall be joint and/or several, as the case may be.
i. Piggy shall not in absence of gross negligence on the part of Piggy, be liable to user for any act, omission or delay by the mutual fund or for any claims which user may suffer or incur as a result of or in course or discharge by Piggy or its employees, officers, directors, nominee or agent of Piggy’s duties. Without prejudice to the above, Piggy shall not be held liable for any loss or damage or failure to comply or delay in complying with its obligations under these Terms and Conditions which is caused directly or indirectly by any event or circumstances beyond Piggy’s reasonable control. These include system failure, network errors, delay or loss of data due to the above and in circumstances of acts of God, floods, epidemics, quarantine, riot, civil commotion and/or war.
ii. User further agrees that Piggy shall not be held liable for any losses, damages, expenses, costs, liabilities and claims of whatsoever nature caused by fraudulent or unauthorized use or access of user information, and/or signatures.
iii. Piggy will be under no duty to verify compliance with any restrictions on user’s investment powers.
iv. Piggy will not be liable for any loss, damage, cost, charges or expenses directly or indirectly caused by reasons of any defects or imperfections or mechanical or other failure with relation to computer, cable, telex, telephone or postal system. While Piggy will make every effort to have its computer systems available at all times, Piggy makes no guarantees with respect to the availability of such systems. Piggy will make every effort to resolve availability issues such as network problems, virus attacks etc. in an expeditious manner. Notwithstanding these, Piggy will as such not be liable for any loss, damage, cost, charges or expenses directly or indirectly caused by reasons of lack of such availability.
v. Piggy shall not be liable for any loss or damage caused by reason of failures or delay of the mutual fund and/or its authorised service provider to deliver any units purchased even though payments have been made for the same, or failure or delay in making payment in respect of any units sold, though they may have been delivered and user shall hold Piggy harmless and free from any claim in respect thereof. Piggy shall also not be liable for any delay, failure or refusal of the mutual fund and/or its authorised service provider in registering or transferring units to user names or for any interest, dividend or other loss caused to user arising there from.
The funds transfer for purchase of units of mutual funds will be done by using an Electronic Payment Gateway facility, ONLY internet banking facility shall be offered for transaction on the Site and the mobile application, through a third party net banking service provider registered with the Reserve Bank of India. User cannot use or permit the use of the payment gateway or any related services for any illegal or improper purposes. Users shall utilize the Electronic Payment Gateway at their own risk. These risks would include but not be limited to the following risks and Piggy/AMC/trustees of the AMC/any vendor, disclaim all liability and responsibility for any claims, losses, damages, costs of what so ever nature arising due to such risks:
i. Misuse of Password: If any third party obtains access to user password of the Piggy Account, such third party would be able to transact on Piggy’s online technology platform. User shall ensure that the terms and conditions applicable to the use of the Net Banking password as contained in the Electronic Payment Gateway for Net Banking are complied with at all times.
ii. Internet Frauds: The Internet per se is susceptible to a number of frauds, misuse, hacking and other actions, which could affect payment instructions given using Electronic Payment Gateway or the transactions done using Piggy’s online technology platform. Whilst Piggy shall aim to provide security to prevent the same, there cannot be any guarantee against such Internet frauds, hacking and other actions. User shall separately evolve/evaluate all risks arising out of the same.
iii. Mistakes and Errors: The filling in of applicable data for transfer would require proper, accurate and complete details. In the event of user account receiving an incorrect credit by reason of a mistake committed by any third party, the concerned mutual fund/AMC or the bank shall be entitled to reverse the incorrect credit at any time whatsoever without the consent of the User. User shall be liable and responsible to Piggy/ concerned mutual fund /concerned AMC and accede to accept instructions without questions for any unfair or unjust gain obtained by Piggy/ concerned mutual fund /concerned AMC as a result of the same.
iv. Technology Risks: The technology for enabling the transfer of funds and the other services offered by the Electronic Payment, Piggy and any vendors could be affected by virus or other malicious, destructive or corrupting code, program or macro. the Site and the mobile application of Piggy, vendors or the bank may require maintenance and during such time it may not be possible to process the user request. This could result in delays in the processing of transactions/payment instructions or failure in the processing of transactions/payment instructions and other such failures and inability. User understand that Piggy disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by Piggy/bank/mutual funds/AMCS/vendors to process any transaction/payment instructions for whatsoever reason. Piggy/AMC/trustee company of the AMC, authorised registrars of the AMC and/or any vendors shall not be responsible for any of the aforesaid risks.
v. Limits: Piggy may from time to time impose maximum and minimum limits on funds that may be transferred by virtue of the payment transfer service given. User realizes and accepts and agrees that the same is to reduce the risks of the user. User shall be bound by such limits imposed and shall strictly comply with them.
vi. Indemnity: User shall indemnify Piggy/mutual funds/AMCs/trustees to the AMCs/authorized registrar of the AMC/ vendors from and against all losses and damages that may be caused as a consequence of breach of any of the Electronic Payment Gateway for net banking and the terms and conditions mentioned herein above.
vii. Authentication of the Transaction: User is authorized to make transaction only with and from the bank account(s) registered on the Site and the mobile application. Banks have all the right to cancel, reject and/or unauthorize the transaction made by the user, from any other account, details of which is not registered or provided to Piggy. Such payment which is rejected by the banks shall be notified or intimated to the user, in the morning of the next business day.
viii. Transaction Verification: The transaction made by the user, whether approved or rejected, using the Site and the mobile application shall be subject to the following level of verifications:
ix. Piggy level: Transaction to be rejected in case the bank account though which the payment is made, is not registered with Piggy.
x. Transactions aggregator Level: Transaction made from the bank account which is different from the account details provided by Piggy to the transactions aggregator.
xi AMC Level: Final, rejection shall be made by the AMC, upon receiving the transaction details.
xii. Withdrawal of Facility: Piggy shall be entitled to withdraw this service at any time without assigning any reason whatsoever. xiii Binding nature of above terms and conditions: By use of this facility, user shall deemed to have agreed to all the above terms and conditions and such terms and conditions shall be bound on the user in the same manner as if user has agreed to the same in writing.
Any information contained in Piggy brochures or other materials or otherwise communicated by Piggy shall not be construed as investment advice and that all decisions to purchase or sell units made by user shall be on the basis of personal judgment arrived at after due consideration. Piggy does not in any manner:
i. Guarantee payments on any units or
ii. Guarantee liquidity of any units or
iii. Make any offer to buy back any units or
iv. Guarantee the redemption or repayment of any units on maturity or
v. Guarantee the payments of interest or dividend or
vi. Promise, indicate or guarantee any returns or
vii. Guarantee any good delivery.
viii. Subscribe to units of mutual funds on behalf or in name of user or collects payments from user for the units so purchased by user for remitting it further to the AMCs or
ix. redeem /sell the units held by user or on its behalf or in its name or
x. unilaterally instruct the mutual fund and/or the corresponding AMCs with regards to nomination/changes in investments plan/any other changes or
xi. sign any document on behalf of or in the name of user for purchase, sale or redemption of units or
xii. collect, receive and / or give receipts and discharges for any sum including dividend, interest or income arising from the units and does not sign and/or endorse dividend and interest warrants on user’s behalf or in user’s name or
xiii. correspond with or gives notice to the mutual fund/AMCs on behalf of or in the name of user, except for transmission of transactions done or purported to be done by user on the online technology platform.
Piggy does not offer any advice and nothing herein or on the Piggy website shall be construed as investment advice by user. Piggy does not, and is not obliged to, offer all mutual fund schemes for investment. By limiting the number of schemes on the Site and the mobile application, Piggy does not make any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied.
Any sum invested through Piggy account is not a deposit with Piggy and is not bank insured. The same is not endorsed or guaranteed and does not constitute obligations of Piggy or any of the subsidiaries associates or affiliates companies whose role in only as described in these Terms and Conditions. Investments in mutual fund are subject to investment risk, including the possible loss of principal amount invested. The value of the units purchased or not purchased will fluctuate. If user redeems the units/shares purchased, user may receive more or less than user has/had paid depending upon NAV of the units in the fund or trust at the time of redemption. Past results are not a guarantee to future performance. Past performance may or may not be sustained in the future.
Any notice or other correspondence addressed by Piggy to user may be addressed to the emai address provided by the user at the time of enrolment. If according to user there is any discrepancy in the particular or details of transaction or account of statement then, it shall be the responsibility of the user to intimate the same to Piggy and to the concerned mutual fund/AMC/authorised registrar of the AMC in writing within 7 (seven) working days of receiving notice thereof, falling which such transaction, statement or account (as the case may be) shall be deemed to be correct and accepted by user and users shall not be entitled to question the correctness or accuracy thereof.
Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
All disputes and differences arising out of, under or in connection with these terms and conditions or anything done hereunder shall be within the exclusive jurisdiction only to the courts of Mumbai. These terms and conditions are subject to and shall be construed in accordance with the laws prevalent in India.
In the event that any provision of these terms is held unenforceable, the validity or enforceability of the remaining provisions will not be affected, and the unenforceable provision will be replaced with an enforceable provision that comes closest to the intention underlying the unenforceable provision. Other agreements may apply to specific products and services offered through the Site and the mobile application. The terms of the Client Agreement and any other agreements applicable to a specific product or service supersede these terms. We may change these terms at any time without notice, and any such change will be effective immediately. Section headings are for convenience only.
You will be responsible for paying, withholding, filing, and reporting all taxes, duties, and other governmental assessments associated with your activity in connection with the Site and the mobile application. The failure of either you or us to exercise, in any way, any right herein shall not be deemed a waiver of any further rights hereunder. You and Piggy agree that these Terms and Conditions are the complete and exclusive statement of the mutual understanding between you and Piggy, and that it supersedes and cancels all previous written and oral agreements, communications and other understandings relating to the subject matter of these Terms and Conditions.
IF USER DO NOT ACCEPT AND ABIDE BY THIS TERMS, USER MUST NOT USE THE WEBSITE AND THE MOBICATION.
1. You acknowledge to have read and understood the Terms and Conditions contained herein and agree to be legally bound by them at all times by transacting through the portal and mobile application. All transactions done through the portal and mobile application shall at all times be bound by the terms and conditions contained herein. Your continued usage of the portal and mobile application shall at all times be deemed to be your acceptance of the terms and conditions contained herein.
2. Valuevest Technologies Pvt. Ltd. ("Piggy") and its vendor MF Utilities India Private Limited (“MFUI” or "MFU") reserve the right to change the Terms and Conditions at any time, without notice, and the revised Terms and Conditions shall be posted on the portal and mobile application from time to time. Your continued usage of the portal and mobile application shall at all times be deemed to be your acceptance of the terms and conditions as may be in force.
3. The User ID provided to you is at PAN / PEKRN level and by default linked to all the CANs wherein you are the Sole / Primary / Second / Third Holder or the Guardian. The CANs linked to the User id are hereinafter referred to as “linked CANs”.
4. You hereby agree that you can transact only in CANs where you are the Sole/Primary holder/Guardian of the CAN and view the portfolio / transactions in case you are the Second / Third Holder of the CAN.
5. In case of more than one holder in CAN, the User ID and password shall be provided to the first holder only if the mode of holding is anyone or survivor. The usage of the portal and mobile application by the first holder shall be deemed to be valid and with full and absolute authority to act for and on behalf of all and each of the other joint holders. Liability of all the joint holders shall be joint and several and shall be binding on each of the joint CAN holders, their respective legal heirs, successors, executors and permitted assigns. All the joint holders shall be deemed to have approved of the transactions done by the first holder through the portal and mobile application.
6. You hereby irrevocably authorize Piggy, MFUI and its agents / Service Providers, to act upon any Electronic Instructions given by you to Piggy or MFUI through the User ID and password.
7. The Online Facility is intended only for the personal use of the investor. You shall be solely responsible for the confidentiality of the User ID and Password and shall not disclose the same to anybody and shall take all possible care to prevent discovery of the User ID and Password by any person. In no event shall you hold Piggyor MFUI liable or responsible for any transactions undertaken under your “linked CANs”.
8. Piggy and MFUI reserve the right to make the Online Facility available for such investors / CAN holders as it deems appropriate.
9. You agree that Piggy and MFUI reserve the right to seek any additional information / confirmation (oral / written) as it may deem necessary to authenticate the transaction.
10. Piggy or MFUI may, in its absolute discretion, suspend the Online Facility granted or decide not to carry out any such transaction where the KYC requirements are incomplete or incorrect, transactions are designed in a manner to violate any law or any information submitted to Piggy / MFUI / its related parties is incomplete, false or misleading or it has reason to believe that the Electronic Instructions are not genuine or are unclear or are otherwise improper and cannot be put into effect.
11. In case where the mode of holding is 'Minor through Guardian', the Guardian shall be deemed to have full authority to act for and on behalf of the minor in all matters relating to the Online Facility.
12. Piggy and MFUI only provide facility to submit transactions in multiple schemes of various Mutual Funds. The respective Mutual Fund / AMC at its discretion may accept or reject any transaction. You shall not hold Piggy or MFUI liable for any loss, damage etc. arising from rejection of transactions by Mutual Fund / AMC. Further, all transactions will be governed by the rules of the individual Mutual Fund / AMC as stated in their Scheme Information Documents and therefore submission of a transaction and time stamping at MFUI portal should not be deemed to be guarantee of acceptance and processing of transaction by the Mutual Fund / AMC.
13. Online Transactions where KYC process is pending, shall be accepted by Piggy and MFUI and passed on to the specific AMC/RTA who may at their sole discretion decide whether or not to process the transaction due to the pending KYC status and the investor will not hold Piggy or MFUI liable for such non-acceptance by the specified AMC/RTA.
14. Online transactions for CAN holders who have not provided Additional KYC and FATCA are liable to be rejected.
15. You shall not use the Online Facility to conduct any transaction(s) that are designed to contravene or circumvent any provision of law, regulation or guideline, including but not limited to the provisions of the Income Tax Act, Foreign Accounts Tax Compliance Act (“FATCA”), The Prevention of Money Laundering Act (“PMLA”), Foreign Exchange Management Act (“FEMA”) or the provisions of the respective SID / KIM and addendums thereto, particularly the guidelines relating to Third Party Payment and Applicability of NAV.
16. The uniform cut-off time as prescribed by SEBI and as mentioned in the SID / KIM and addendums thereto of respective schemes shall be applicable for applications received on the portal and mobile application.
17. Realization of funds with regard to subscription transactions:-
18. The time stamping for online transaction would be the MFUI server timings upon submission of transaction by you. In case payment is made through Net Banking the time stamp would be upon successful confirmation of payment.
19. NAV Applicability:
20. Restriction on Acceptance of Third Party Payments for Subscription of Units in Mutual Fund Schemes:
21. Payment Mode
22. If you are holding your units in the Depository Account, the request for redemption has to be routed through (a) your broker, or (b) your depository participant. MFUI will not be in a position to accept these transactions.
23. Your payout proceeds, subject to deduction of exit load, STT and TDS (if applicable) would be paid out to you into your default bank details registered under your CAN or any other registered bank details specified by you, within the payment timelines of the respective scheme(s).
24. Transactions received on a non-business day will be treated as received on next business day.
25. You agree that even though your Mobile No. is registered under the National Do Not Call Registry (NDNC), you explicitly permit Piggy and MFUI to send various communications, updates, alerts, notifications and the same shall not be considered as a breach of any TRAI Regulations/Guidelines.
26. Indemnity & No Warranties
27. Piggy and MFUI will take best efforts to keep the Portal and mobile application updated so as to provide most current information to you, and shall further take best efforts to ensure that the information provided on the Portal and mobile application is as accurate as possible and that the disruptions of service are minimal. However, Piggy or MFUI makes no warranty, either express or implied, or gives any guarantee, to you concerning the uninterrupted availability of the Portal and mobile application or the services or the accuracy of the information available on it.
28. You authorize Piggy and MFUI to provide to third parties such transaction / account details, as may be necessary in order to give effect to your online instructions or in order to comply with the order of any court, government agency or lawful authority or in order to ensure compliance with any laws/regulations in any jurisdiction.
29. You agree that the look and feel of the web screen and outputs therefrom may differ based on the nature of the software used by you to browse/use the Portal or the mobile application. You shall not hold Piggy or MFUI liable for any act of non-adherence of Electronic Instructions, or the lack of availability of the Portal and mobile application or the Online Facility extended by Piggy and MFUI, if Piggy or MFUI is for any reasons whatsoever, unable to provide the said service.
30. You agree to bear the bank charges, if any, towards electronic fund transfer or any other transaction carried out through your bank account, without any reimbursement from Piggy or MFUI.
31. No solicitation: Nothing in the Terms and Conditions or on the Portal and mobile application shall be considered a solicitation to buy or an offer to sell, or a recommendation for, a security, or any other product or service, to any person in any jurisdiction where such solicitation, offer, recommendation, purchase or sale would be unlawful under the laws of that jurisdiction.
32. Proprietary Rights: You hereby acknowledge that the portal and mobile application is the legal property of Piggy and/or MFUI. The permission given by the Piggy and/or MFUI to access the Online Facility will not convey any proprietary or ownership rights in the software. You agree not to attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying the Online Facility of Piggy or MFUI or create any derivative product based on the software. You further agree not to use the name, logo or mark of the Piggy or MFUI or any of the AMC/Mutual Fund (or any logo or mark similar thereto), and any related patent, trademark and service mark applications, design rights, copyrights, and all or any similar or equivalent rights arising or subsisting in any country in the world.
33. Governing Laws & Jurisdiction: The Online Facility and all the Online Transactions carried out through the Online Facility are subject to the Terms and Conditions of the Scheme Information Documents of the schemes of various Mutual Funds, read with the addenda issued from time to time.
34. The provision of the Online Facility is subject to and governed by the laws of India. The Courts in Mumbai shall have jurisdiction over all disputes arising out of or in respect of the Terms and Conditions.
35. These Terms and Conditions are subject to Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and guidelines issued thereunder as amended from time to time and other laws, rules and regulations issued by the Government of India relating to Mutual Funds and provision of Online Facility.
36. Notice: Any notice, communication or documents required to be given by either Party to the other, may be given by personal delivery, courier, registered post at the registered office of Piggy or MFUI or by email to email@example.com or firstname.lastname@example.org and if to the investor at the registered address or email ID as per MFUIs records.
37. You hereby confirm and declare as under:-
38. I/WE HEREBY CONFIRM THAT I/WE HAVE NOT BEEN OFFERED/COMMUNICATED ANY INDICATIVE PORTFOLIO AND/OR ANY INDICATIVE YIELD BY THE FUND/AMC/ITS DISTRIBUTOR FOR THIS INVESTMENT.
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