Last Updated: June 2019
"Account" shall mean the account opened with Piggy by Registered Users, for use of the Piggy Platform or making investment through the Piggy Platform.
"AMC" shall mean and include Asset Management Company
"Flexi SIPs" shall mean Flexible Systematic Investment Plans that allows you to vary the details of your investments every month.
"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, unauthorized access to computer data and storage devices, cyber-attacks, 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.
"NAV" shall mean Net Asset Value.
"Piggy" or "us" or "we" or "our" shall mean and refer to Valuevest Services Private Limited.
"Registered User" shall mean and include the visitors who have an investment Account on the Piggy Platform to avail the Services or any part thereof, as provided on the Piggy Platform.
"Services" means the service of providing 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 Platform to Users, on the Terms and Conditions as mentioned.
"SIP" shall mean Systematic Investment Plans.
"Site" or "Website" or "Piggy Website" means www.Valuevest.in or www.piggy.co.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.
"User" or "You/you" or "Your/your" means any person or visitor or Registered User who views, browses, accesses or uses the Piggy Platform.
"Use" or "Using" means to browse, access, view, copy, availing Services or other benefit from using the Piggy Platform.
"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.
You must be a citizen of India and 18 years of age or older to use the Piggy Platform. The Piggy Platform renders investment options to residents and non-residents of India, except those living in the United States of America and Canada, by opening their Account with Piggy in a single mode and individual capacity. They also agree that they will provide 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 Piggy reserves the right of refusal in opening the User Account and cancel the Account opened under false/incomplete details. Also, piggy cannot guarantee that all fund houses on the Piggy Platform will render investment options to non-resident Indians. This decision is left to the discretion of the concerned fund house.
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. You further warrant that you are using the Piggy 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.
By using the Piggy Platform, 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 Account with the Site and the Mobile Application to avail the Services or any part thereof, as provided on the Piggy Platform). Each time you use the Piggy Platform, the current version of the Terms and Conditions will apply. Accordingly, when you use the Piggy Platform, you should check and review any changes since the last version. Please review carefully all of the Piggy Platform's Terms and Conditions before agreeing to them and accessing the Piggy Platform by reading through all of the sections appearing below and reviewing all of the linked Terms and Conditions.
User acknowledges that in accessing and Using the Services offered by Piggy, User may utilize the content and Services offered on the Piggy Platform or whatsoever platform by whatsoever name it may be called. User agrees to follow the Terms and Conditions for the use of the Piggy Platform as may be specified on the Piggy Platform and updated from time to time. Notwithstanding such acceptance of the Piggy Platform terms, User acknowledges and agrees to the following, that
Piggy is a Registered Investments Advisor (RIA) and distributor of mutual funds under the Securities Exchange board of India (SEBI);
User 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 Know Your Client ("KYC") guidelines issued by the Securities and Exchange Board of India ("SEBI") and Common Account Number ("CAN") and Unique Client Code (UCC) requirements as prescribed by AMCs and / or their Vendors;
User shall not to copy, reproduce, sell, re-distribute, publish, enter into the 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 Piggy Platform, except that which User may download for personal or non-commercial use;
User will not use Piggy Platform or any interface as provided by Piggy for any purpose that is unlawful, or prohibited by these Terms and Conditions. User also agrees that User will not use the Piggy Platform in any manner that could damage, disable or impair the Piggy Platform or interfere with any other person's use or enjoyment of the Piggy Platform;
The software and hardware underlying the Piggy Platform as well as other internet related software which are required for accessing the Piggy Platform 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 agrees to not attempt to modify, translate, disassemble, decompile or reverse engineer the software / hardware underlying the Piggy Platform or create any derivative product based on the software / hardware;
Piggy does not, and is not obliged to offer all mutual fund schemes for investment. By limiting the number of schemes on the Piggy Platform, 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;
The information and assistance provided on the Website are true to the knowledge of Piggy and that Piggy shall have no liability for any discrepancy in any such information or assistance;
Piggy is not responsible for the availability of content or other services on third party sites linked from the Piggy Platform. 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;
Piggy and its Vendors MF Utilities India Private Limited and Bombay Stock exchange Limited have the absolute discretion to amend or supplement any of the Piggy Platform Terms and Conditions 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;
An Account may be created offline, without accessing the Website. In the event User creates an Account offline, User understands and acknowledges that these Terms and Conditions for use of the Piggy Platform will continue to be applicable to User for the use of the Services;
Mere Use of the Piggy Platform shall be construed as User's intent to contract with us and shall constitute User's binding obligations, with us;
User understands that it is User's responsibility to check the Piggy Platform Terms and Conditions carefully before Using or transacting on our Website;
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 Piggy Platform. User further acknowledges and understands that Use of the Piggy Platform shall be at User's own risk and has the discretion of not using the Piggy Platform;
Piggy shall not be liable if any transaction does not fructify or may not be completed or for any failure on the part of Piggy to perform any of its obligations under these Terms and Conditions or those applicable specifically to its Services 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;
All information, content, materials, products (including, but not limited to text, content, photographs, graphics, video and audio content) on the Piggy Platform is protected by copyright in the favour of Piggy under applicable copyright laws and is also protected otherwise under general intellectual property law;
All information submitted by User to Piggy whether through the Piggy Platform 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 User at the Website, in any manner whatsoever; and
Not all the products and services offered on the Piggy Platform are available in all geographic areas and User may not be eligible for all the products or services offered by Piggy on the Piggy Platform. 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 agrees 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 Services provided herein from time to time.
Registered User can manage Employees' Provident Fund in his Account, on the Piggy Platform, by providing a 12 digit Universal Account Number, assigned to each member of the Employees' Provided Fund Organization (EPFO), and password to Piggy.
Piggy renders a 'Smart Switch' Service, an algorithm; to the Registered Users which allows the Registered User to switch funds from one fund house to the other with the least amount of exit load expenses incurred.
Once you have registered with Piggy, you may move all your existing investments that are not made through Piggy, to your Account on the Piggy Platform for easy management and sale of those investments, along with your investments made through Piggy.
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
Piggy may provide you links to third party services ("Third Party Services"). You agree to use the Services at your sole risk and that we shall not have any liability to you for content that may be found to be offensive, indecent, or objectionable. User understands that certain Services may display, include or make available content, data, information, applications or materials from third parties ("Third Party Materials") or provide links to certain third party websites. By using the Third Party Services, you acknowledge and agree that Piggy is not responsible for examining or evaluating the content, accuracy, completeness, timeliness, validity, copyright compliance, legality, decency, quality or any other aspect of such Third Party Materials or websites. Piggy DOES NOT WARRANT OR ENDORSE AND DOES NOT ASSUME AND WILL NOT HAVE ANY LIABILITY OR RESPONSIBILITY TO YOU OR ANY OTHER PERSON FOR ANY THIRD PARTY SERVICES, THIRD PARTY MATERIALS OR WEB SITES, OR FOR ANY OTHER MATERIALS, PRODUCTS, OR SERVICES OF THIRD PARTIES.
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 does not charge a convenience fee for the Services, User acknowledges that Piggy reserves the right to charge 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 (thirty) days ahead of implementation, and will be displayed on the 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, in the future, will be in addition to those levied by the AMCs, if any. 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.
User understands that the value of mutual funds may fluctuate, depending on various factors, including market conditions and Piggy shall not be liable for any reduction in the value of the investments made by the User due to any reason whatsoever.
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.
1.1. "Financial Advice" shall mean any E-mail sent from Piggy to the user's e-mail ID and any hard copy communication sent to the postal address of the user relating to the recommendations on investment choices.
1.2. "KYC" shall mean Know Your Client guidelines issued by the Securities and Exchange Board of India.
1.3. "Piggy" shall mean and refer to Valuevest Services Private Limited.
1.4. "Piggy Platform" shall mean the mobile application or any other platform or medium, accessed by the User to avail services from Piggy, whether in access today or that may be evolved anytime by whatsoever name.
1.5. "Piggy Premier Services" or "Services" shall mean all services required to develop a comprehensive financial plan as detailed under Section 3.
1.6. "User(s)" shall mean any person, visitor or registered user who avails the Piggy Premier Services, or views, browses, accesses, uses or has an account on the Piggy website or Piggy application.
2. Basic Details.
Piggy is licensed as 'Investment Advisor', registered with Securities and Exchange Board of India (SEBI) with Registration No. INA000011343, dated August 06, 2018.This means that Piggy works as a fiduciary for its Users and the advice given by Piggy stands in the best interest of its Users. Piggy is not affiliated / has any tie-ups with any financial intermediaries like banks, insurance companies, mutual fund AMCs, stock broking houses etc to get any commissions
3. Piggy Premier Services.
As a registered investment advisor Piggy can provide all services required to develop a financial plan relating to Mutual Fund Investments to its Users, under Piggy Premier Services, which may include:
3.1. assessing the current financial situation of the User;
3.2. developing financial projections for various goals and preparing an investment plan for achievement of those goals;
3.3. assessing exposure to various risks;
3.4. identifying tax planning strategies to optimize tax-adjusted investment returns;
3.5. integrating and prioritizing all strategies outlined above into a financial roadmap;
3.6. presenting a financial plan that will be reviewed in detail with the User; and
3.7. developing an action plan to implement the agreed upon recommendations.
The professional fees for the Piggy Premier Services annual subscription shall be Rs.5000 (rupees five thousand) excluding taxes which shall be paid to Piggy online through the payment gateways available to the Users which are (i) net banking, (ii) NEFT transaction, (iii) payments through debit cards that belong to the User only and (iv) Unified Payments Interface (UPI). Without payment of fees the User shall not be able to access the Piggy Premier Services. Piggy reserves the right to change the professional fees charged in the future for the Services. The new fees shall only be applicable from the date of renewal of the User's annual subscription to the Services. Any such changes to the fees shall be communicated to the User by Piggy via email 30 (thirty) days ahead of implementation of the new fees. Under such circumstances User shall have the option to cancel the subscription to Piggy Premier Services.
5. Conflict of Interest.
In compliance with SEBI (Investment Advisors) Regulations, 2013, Piggy does not have any known conflicts of interest in providing the Piggy Premier Services. The Piggy Platform provides its users a medium through which they can buy and sell funds. The Piggy Premier Services are not in conflict with any other services rendered by Piggy. Piggy further commits that in case any conflict of interest arises during the course of providing Piggy Premier Services to the User, Piggy shall promptly communicate the same to the User.
6. Grievance Redressal.
In case of any grievance, the User can write to the e-mail address firstname.lastname@example.org. User shall receive a response / resolution within 20 (twenty) business days from the Piggy team.
8. Financial Advice.
The Financial Advice offered to the User by Piggy shall be based on financial information and clarifications provided by the User. In order to ensure that the advice offered by Piggy contains sound and appropriate recommendations, the User must provide complete and accurate information regarding all aspects of the User's personal and financial situation within the timelines provided by Piggy. The calls scheduled with the Adviser may be recorded for monitoring purposes.
9. Providing Data / Clarifications.
The timeline for providing Piggy Premier Services to Users is one month from the date of User's payment for the Piggy Premier Services. In case the desired information / clarifications, from the User, are not received by Piggy within this period, Piggy shall not be able to proceed with providing the Services. Kindly note that as part of compliance to SEBI regulations, the User shall also provide information such as, but not limited to, a copy of KYC documents (address proof and Identity proof), objectives, needs and values, investment statements, tax returns, insurance policies, employment benefits, retirement benefits and relevant legal agreements, at the time of availing the Piggy Premier Services
10. Cancellation of Piggy Premier Services.
In an extreme situation of non-cooperation from the User by not providing data / required information or clarifications due to which Piggy is not able to proceed with providing its Services, Piggy shall be constrained to cancel the Piggy Premier Services by notifying the User by email addressed to the User's registered email address. Should the User wish to terminate Piggy Premier Services at any time, User must notify Piggy by email. In case of cancellation of Piggy Premier Services by either party, all obligations under the Services will come to an end immediately. There shall be no refund of fee or cancellation of fee from Piggy. In case of non-payment of professional fee to Piggy, all obligations under the Piggy Premier Service will come to an end.
While Piggy shall make every attempt to ensure that the calculations done are correct and complete, the Financial Advice may contain inaccuracies or errors due the manual-computer interface involved in making the calculations and Piggy expressly excludes liability for any such inaccuracies or errors which are non-intentional and inadvertent. If the User believes that any relevant information may have been overlooked or misinterpreted, it is responsibility of the User to inform Piggy immediately so that Piggy shall ensure the necessary rectification.
12. Necessity for On-going Review.
The Financial Advice rendered by Piggy is based on the current situation and goals of the User, which will change with the passage of time and the age of the User. Any material change in the financial situation of the User will necessarily render it out of date. Piggy strongly recommends that the same is reviewed periodically to ensure that actual performance of Services is consistent in meeting desired goals.
13. Product Specific Advice.
Kindly note that Piggy shall not be able to provide 'product specific' advice pertaining to direct equity, real estate and estate planning.
14. Jurisdiction of Disputes.
Any dispute will be subject to the Jurisdiction of the Courts in Mumbai only. THIS FINANCIAL PLAN PROVIDED BY PIGGY THROUGH ITS PIGGY PREMIER SERVICES IS A FORWARD-LOOKING PLAN AND IS SUBJECT TO KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS AND ECONOMIC CONDITIONS, WHICH COULD CAUSE ACTUAL RESULTS WHICH MAY DIFFER FROM THE RESULTS EXPECTED. PIGGY SHALL NOT BE IN A POSITION TO ACCEPT ANY DIRECT OR INDIRECT LIABILITY FOR THE SAME.
ACCEPTANCE OF DISCLAIMERS AND EXCLUSIONS
You acknowledge that the disclaimers and exclusions of liability set forth in these Terms and Conditions of Access and Use represent a fair and reasonable allocation of the risks and benefits of the Agreement between you and us, taking all relevant factors into consideration. You agree that these disclaimers and limitations shall be enforceable to the fullest extent permitted by applicable law. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Platform or these Terms and Conditions of Access and Use must be filed within one (1) year after such claim or cause of action arose or be forever barred
Any dispute or claim relating in any way to your visit to the Platform or to products or services sold or distributed by Piggy or through the Platform will be resolved first by arbitration. The Indian Arbitration and Conciliation Act of 1996 applies to this agreement. To begin an arbitration proceeding, you must send a letter requesting arbitration and describing your claim in detail to our address available on the Platform. The arbitration will be conducted in Banglore by an independent arbitrator appointed by Piggy. The costs of arbitration proceedings will be borne by the party so instructed by the arbitrator, on merits of the case. We each agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action.
When you visit the Platform or send e-mails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by one or more of letters, e-mail, SMS or by posting notices on the Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy all legal requirements that such communications be in writing.
You shall procure and maintain all communication and other equipment necessary to access the Platform and the costs of any such equipment and communication connections or use, including any applicable taxes, shall be borne solely by you. You are responsible for operating your own equipment used to access the Platform.
FINANCIAL TRANSACTIONS AND TAXES
If you wish to make any financial transactions on the Platform, including paying for products or services, you may be asked for payment information. You agree that all information you provide is accurate, complete and current and that you will pay all charges owed, including any applicable taxes. You agree that you are solely responsible for any personal income reporting and tax payments required of you by applicable government authorities.
GOVERNING LAW AND JURISDICTION
By visiting the Platform, you agree to be bound by the applicable Indian laws and State laws, including those pertaining to taxation. This Agreement has been executed and delivered in India, and its interpretations, validity and performance shall be construed and enforced in accordance with the laws of the Republic of India, without regard to principles of conflict of laws, and shall be subject to the exclusive jurisdiction of courts at Bangalore, India
You agree to indemnify, defend and hold Valuevest harmless from all claims, damages and expenses (including attorney's fees) made by any third party arising out of your content, your use of the Platform, your connection to the Platform, your violation of this Agreement, our Terms and Conditions of Access and Use or our business policies, and the development, operation, maintenance, use and contents of this Platform.
You acknowledge that you have read these Terms and Conditions of Access and Use and agree to them in entirety. You, understand that we may at any time (directly or indirectly) solicit member referrals on terms that may differ from those contained in this Terms and Conditions of Access and Use. You have independently evaluated the desirability of associating with the Platform or of participating in its programs or of availing its services and/or products, and are not relying on any representation, guarantee or statements other than as set forth in this Terms and Conditions of Access and Use.
LICENSE AND SITE ACCESS
Valuevest grants you a limited license to access and make personal use of this site and not to download (other than page caching) or modify it, or any portion of it, except with express written consent of Valuevest. This license does not include any resale or commercial use of this site or its contents; any collection and use of any product listings, descriptions, or prices; any derivative use of this site or its contents; any downloading or copying of account information for the benefit of another merchant; or any use of data mining, robots, or similar data gathering and extraction tools. This site or any portion of this site may not be reproduced, duplicated, copied, sold, resold, visited, or otherwise exploited for any commercial purpose without express written consent of Valuevest. You may not frame or utilize framing techniques to enclose any trademark, logo, or other proprietary information (including images, text, page layout, or form) of Valuevest or Piggy without its express written consent. You may not use any meta tags or any other "hidden text" utilizing Valuevest's name or trademarks without the express written consent of Valuevest. Any unauthorized use terminates the permission or license granted by Valuevest. You are granted a limited, revocable, and nonexclusive right to create a hyperlink to the Platform so long as the link does not portray Valuevest, or its products or services in a false, misleading, derogatory, or otherwise offensive matter. You may not use any Valuevest logo or other proprietary graphic or trademark as part of the link without express written permission
LIMITATION OF LIABILITY
You expressly agree that use of the Platform is at your sole risk. While we will take all reasonable precautions to ensure uninterrupted and error-free operations, your access and use of the Platform is at your sole risk. The service is provided on an "as is" and "as available" basis. We and our licensors, suppliers, vendors, parent, holding, subsidiary and related companies, affiliates, officers, agents and employees expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. In no event shall Valuevest be liable for any direct, indirect, incidental, special, punitive, consequential damages, or any damages whatsoever, including, but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses resulting from:
The use or the inability to use our services or access content,
The cost of procurement of substitute goods and services resulting from transactions entered into through or from the Platform,
The unauthorized access to or alterations of your transmissions or data,
Statements or conduct of any third party on the service, or
Any other matter relating to any service or product offered, delivered or agreed to be delivered, even if Valuevest has been advised of the possibility of damages.
Except where noted otherwise, the prices displayed for products on the Platform represents the value of the respective product. For certain transactions, you shall bear fees and charges in addition to payment for prices displayed on the Platform. Such additional fees and charges shall be as are stated on the Platform. Please pay attention to the details of your transactions, because your total price for a transaction may include taxes, fees and shipping costs, which you are responsible for paying.
With respect to services provided or products sold by Valuevest, we cannot confirm the cost of a service or the price of a product until you order. Despite our best efforts, a small number of the items in our catalogue may be mispriced. If an item's correct price is higher than our stated price, we will, at our discretion, either contact you for instructions before shipping or cancel your order and notify you of such cancellation. The order price can only be locked for 5 minutes only. If the payment confirmation is received after the lock in time period of 5 minutes the new price will be applied to the order.
Valuevest attempts to be as accurate as possible. However, Valuevest does not warrant that product descriptions or other content of this site is accurate, complete, reliable, current, or error-free. If a product offered by Valuevest is not as described, your sole remedy is to return it in unused condition for a replacement under the provisions of our Replacement Policy.
RETURNS, REPLACEMENT AND TITLE
Valuevest does not take title to returned items until the item arrives at our designated address. For more information about our returns and replacement, please see our Replacement Policy.
Valuevest reserves the right to discontinue, in whole or in part, any portion of the Platform services or programs with or without notice. This discontinuation may relate to all users, certain groups of users, or to certain individual users.
This Agreement and the license rights granted hereunder shall remain in full force and effect unless terminated or cancelled for any of the following reasons: (a) immediately by Valuevest for any unauthorized access or use by you; (b) immediately by Valluevest if you assign or transfer (or attempt to do so) any rights granted to you under this Agreement; (c) immediately, if you violate any of the other terms and conditions of Terms and Conditions of Access and Use. Termination or cancellation of this Agreement shall not affect any right or relief to which Valuevest may be entitled at law or in equity. Upon termination of this User Agreement, all rights granted to you will terminate and return to Valuevest
VOID WHERE PROHIBITED
Although the Platform is accessible worldwide, not all products or services discussed or referenced on the Platform are available to all persons or in all geographic locations or jurisdictions. The Platform reserves the right to limit the provision of any product or service to any person, geographic area or jurisdiction it so desires, in its sole discretion and to limit the quantities of any such product or service that it provides. Any offer for any product or service made on the Platform is void where prohibited.
If you use this site, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer, and you agree to accept responsibility for all activities that occur under your account or password. Valuevest does not offer services or sell products to parties under the age of 18 years. Valuevest reserves the right to refuse service, terminate accounts, remove or edit content, or cancel orders and instructions at its sole discretion.
DISAPPROVAL OF APPLICATION
If you provide any information that is untrue, inaccurate, not current or incomplete, Valuevest has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Valuevest has the right to suspend or terminate your account and refuse any and all current or future use of the Platform (or any portion thereof) without any liability to you.
TERMINATION OF ACCOUNT
You agree that Valuevest, in its sole discretion, may terminate your password, Account or your use of the Platform. Valuevest may terminate your Account and remove any content within the Platform for any reason, including, without limitation, if Valuevest, in its sole opinion, believes that you have violated or acted inconsistently with the letter or spirit of these Terms and Conditions of Access and Use. Valuevest may also, in its sole discretion and at any time, discontinue the Platform, or any part thereof, without notice. You may also request Valuevest to terminate your account with us by sending an email to the customer help desk from your registered email id. You agree that any termination of your access to the Platform under any provision of these Terms and Conditions of Access and Use may be effected without prior notice, and acknowledge and agree that Valuevest may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access to such files or to the Platform
Through the Platform, Valuevest shall facilitate buy and sell of Gold and Silver (Bullion). All such buy and sell transactions are final and non-reversible.
Valuevest shall provide buy/sell quotes for the prices of Bullion, which shall be linked, based on a formula, to the prices of gold and silver in the spot market. You may buy any quantity of Bullion through the Platform, subject to policies framed in this regard by Valuevest. Valuevest shall issue an invoice with Bullion (as the case may be) purchased by you.
PLACEMENT OF ORDERS
The market prices of bullion shown on the Platform would be an invitation to offer to all eligible Account holders. An order legitimately placed by an eligible Account holder would constitute an offer for purchase or sale of the Gold or Silver, as the case may be. Valuevest may accept or reject such an offer, at its discretion.
Though orders would usually be attended to within seconds, certain orders, at Valuevest's discretion, may be subject to manual review and entry, which may cause delays in the processing of your orders. You also accept that you will receive the price at which your order executes in our systems, which may be different from the price at which Gold or Silver is trading at when you enter your order into our system. You acknowledge that you cannot modify an order once placed and that orders may get executed at a price significantly unfavorable to you, depending upon market fluctuations.
Infrequently, data may be inaccurately displayed on the Platform due to system errors. Valuevest reserves the right to correct any and all errors when they do occur and Valuevest shall not honour inaccurate or erroneous prices. The delivery charges on the Platform are also subject to change without notice. For any order the delivery charges on the day the order is confirmed prevails. The delivery charges of the products listed on the Platform are fixed and not negotiable.
Delivery shall be made by the Company / courier agent at your doorstep. All items shall be delivered directly to such person and under any circumstances whatsoever, the Member cannot change the recipient details after the order is processed. The Member has the option to change the shipping address, before the product is actually shipped. In the event the Member wishes to change the shipping address, he / she has to mail us from the registered mail id at email@example.com
Recipient accepting delivery should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. The recipient receiving the delivery also has the option to open the package and check its contents prior to accepting the delivery or signing the delivery receipt. They shall not accept deliveries, where they find that the box is empty or the contents are damaged or the contents are not in accordance to the order placed.
The recipient, upon signing the delivery receipt, acknowledges the receipt of the product in terms of the order placed with the Company. The Company is not liable to the Customer / recipient for any refund / replacement, under any circumstances, for any subsequent complaints with respect to such deliveries. If the recipient is not available at the time of delivery, the Company / courier agent shall try and deliver the item thrice before returning the same. All costs for re-shipment and handling in the case of non-delivery to the Customer shall be chargeable to the Customer.
Return & Replacement Policy
In the event you receive a damaged / defective article or an article that does not comply with the specifications as per your original order, you are required to get in touch with the customer service team. Upon receiving your complaint, Valuevest shall verify the authenticity and the nature of the complaint. If Valuevest is convinced that the complaint is genuine, Valuevest shall provide a free replacement. However, in the event of frivolous and unjustified complaints regarding the quality and content of the products, Valuevest reserves the right to pursue necessary legal actions against you and you will be solely liable for all costs incurred by Valuevest in this regard.
Before accepting shipment of any product, kindly ensure that the product's packaging is not damaged or tampered. If you observe that the package is damaged or tampered, request you to refuse to accept delivery and inform Valuevest at the earliest. The return process of the product may be restricted by Valuevest depending on the nature and category of the product.
To participate in Piggy Gold Cashback Offer (Henceforth mentioned as offer), you must agree to the offer terms and conditions. You agree that your participation in the offer constitutes your understanding of and agreement to the offer terms and conditions. The offer terms and conditions form a binding legal agreement between you and Valuevest Services Private Limited (Henceforth mentioned as “the Company” or “PIGGY”). Piggy reserves the right, at its sole discretion, to disqualify any User who does not meet the offer requirements or in case of reasons including but not limited to any misuse of the offer or fraud or suspicious transactions/activities. Piggy also reserves the right to discontinue or change the offer or policies at any time, at its sole discretion without any notice.
The Gold Cashback of 20% up to Rs. 200 is applicable only on the first transaction of the user’s who reach Piggy via the Piggy Ad campaign for the same. For each user a Unique reference number will be assigned for clicking on the Ad. The 20% cashback can only be applied once per profile. Repeated transactions will not offer the same cashback.The Gold Cashback of up to 2% is applicable on all transactions above Rs. 1000. This is applicable to all purchases made via the Piggy platform ( Android, iOS and Web).Cashback will be transferred within 1-2 working days to the bank account registered on Piggy.
In case of No Account/ Invalid account mentioned in the profile, user needs to notify Piggy via mail to firstname.lastname@example.org with correct account details or complete the profile on the platform to get the cashback. In case of no updates within 45 days the cashback will stand forfeited and will no longer be available to you.Cashback will only be transferred to the users with Profile verified and KYC completed on Piggy. By accepting the reward’s / cashback User authorises Piggy to use the name and amount of cashback for marketing and promotional purposes.
Piggy Reverses the Right to Terminate the offer without any notice.
1. Rs.500 transacted via Piggy Credits is a variable cash-back scheme offered to select users. This cash-back is given to familiarise user with Piggy app and in no way forces any users to make investments into mutual funds.
2. Mutual fund investments are subject to market risks. Please read the offer document carefully before investing. Moreover users advised to consult Piggy's SEBI registered Advisors to understand the risks involved in mutual funds and choose a suitable product for them.
3. The cash-back will grow/decrease in total amount daily, based on the daily returns of the chosen mutual fund.
4. Transaction via Piggy Credits is not an actual investment. Therefore there will be no units or folio number allotted against this transaction. It has no relation to any Asset Management Company or their mutual fund Schemes.
5. The investment flow/process shown is for illustrative purposes only, and to familiarise and help new users with the investment process in mutual funds.
6. To impress upon the importance of long term investments to users, Rs.500 cash-back will be locked in for a period of 2 years
7. User will receive the cash-back amount based on the value of the chosen scheme at the time of redemption. Subject to the redemption and eligibility conditions mentioned below.
1. Only referred users signing up on Piggy and completing the KYC and other Profile verification requirements on or after the date 01 August, 2019, are eligible to avail this offer.
2. The user will have to fulfil the following conditions to avail the cash-back :
How can I redeem this cash-back
1. Get it instantly - Successfully refer 4 friends to receive this amount instantly. A Successful Referral is considered once the new user makes a minimum investment of ₹500 via the Piggy app or Piggy Website towards mutual fund investments. Note: This does not include the variable Piggy Credit cashback of Rs. 500. For More details check Piggy Refer and Earn T&C.
2. Wait for 2 years - You can redeem the cash-back amount based on the value of the chosen scheme at the end of lock-in period (2 years).
1. User will have to initiate the redemption after the lock-in period themselves or after successfully having referred 4 friends. The cash back will cease to change in amount post lock in period or on the date of the 4th successful referral.
2. Users will have 30 days to redeem the cash-back post lock in period/ date of 4th successful referral after which it will expire.
3. Cash-back will be credited only to the registered bank account of the user on Piggy.
4. All redemptions will be processed to the registered bank account within 7 business days.
5. In case of any failure to transfer the proceeds due to incorrect bank account details the cashback will be revoked.
1. Once the scheme for tracking the cash-back amount is chosen it can't be changed again.
2. In case the chosen fund ceases to exist or merges with another fund, you can choose a different fund in the same category. The permission to do so will be based solely on the discretion of Piggy.
3. This cash back can't be transferred to other users.
4. Piggy has the right to terminate or change the conditions of this cash-back offer anytime.
5. User indemnifies Piggy against any legal charges or proceedings.
Note: these terms and conditions were updated on 23/09/2019. All previous refer and earn policies cease to exist. For users who have received Rs. 500 Piggy Credits as part of earlier offer will have the same available and addition to the current offer, on 4th “successful referral” (defined in point-3 of the offer) they can claim the amount else post the Lockin period.
To participate in Piggy Refer and Earn Offer ( Henceforth mentioned as offer), you must agree to the offer terms and conditions. You agree that your participation in the offer constitutes your understanding of and agreement to the offer terms and conditions. The offer terms and conditions form a binding legal agreement between you and Valuevest Services Private Limited (Henceforth mentioned as “the Company” or “PIGGY”). Piggy reserves the right, at its sole discretion, to disqualify any User who does not meet the offer requirements or in case of reasons including but not limited to any misuse of the offer or fraud or suspicious transactions/activities. Piggy also reserves the right to discontinue or change the offer or policies at any time, at its sole discretion without any notice.
1. The user who refers his/her friend is known as Referrer and the one who is being referred to is known as Referee.
2. When referee completes the KYC and other account creation requirement both the referrer and referee will get a Piggy welcome card, which can value up to Rs. 100.
3. When a referee makes 1st investment via Piggy App ( Android or iOS) or Website towards mutual funds, Referrerl will get a Successful Referral Card which can value upto Rs. 2000.
NOTE : For referee to be considered as a successful referral he/she needs to complete the KYC process and make one successful investment in mutual funds via the Piggy Platform. Once the units are allotted to the referee the benefits as per the offer mentioned will be transferred to the referer. Users in the profile completion stage are not considered successful referrals. Also, Rs. 500 credits via Piggy given earlier will not be considered for this as an investment.
4. A referee can increase the value of rewards earned up to 150% on Successful Referral Card by completing certain tasks and activating booster cards
5, Booster cards will increase the value of the cash card by the percentage value mentioned on the booster card. Booster is not applicable on Welcome Card.
6. Multiple Booster cards can be applied to the cash card till the validity of the booster is active.
7. All boosters have a Different validity mentioned on the booster page on the card details.
8. Each booster can be active only once during the validity period. Repeating the same action again during the validity period will not alter the card validity or the booster amount. Only after the expiry of the previous booster it can be reactivated again.
This offer is valid for all Users with having tax status as Resident Indian and are a user of Piggy app or Website. Maximum Reward per user is limited to Rs. 1,00,000/- ( One Lakh) per month. In order to Receive the Cashback the Referer should have the Profile verified and KYC completed on Piggy. Only Referrals verified after 15th October 2019 will be eligible for Reward Cards. Existing Referrals with completed KYC will not considered.
Expiration of the Cash Reward card:
If you do not claim your reward within 90 days. Your rewards will be deemed to be forfeited and will no longer be available to you.
Rewards will be transferred within 1-2 working days to the bank account registered on Piggy. In case of No Account/ Invalid account mentioned in the profile, user needs to notify Piggy via mail to email@example.com with correct account details or complete the profile on the platform to get the rewards to the bank account before the expiration of the card. Once the Card is expired the rewards will be deemed to be forfeited and will no longer be available. By accepting the reward’s / cashback User authorises Piggy to use the name and amount of cashback for marketing and promotional purposes.
For detailed information you can refer https://www.piggy.co.in/blog/piggy-referral-program/
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
User shall indemnify Piggy / mutual funds / AMCs / trustees to the AMCs / authorized registrar of the AMC / Vendors / MFU / BSE from and against all losses and damages that may be caused as a consequence of breach of any applicable laws and regulations or a breach of these Terms and Conditions, mentioned herein above. User shall be fully liable to MFU and / or BSE and / or the AMC and / or mutual fund or their affiliates for every transaction entered into using your Account, whether with or without your knowledge. In no event will the AMC / mutual fund, Piggy, BSE or MFU or their agents / service providers be liable to you for any special, direct, indirect, consequential or incidental loss or damages even if you have been advised by the AMC / mutual fund, BSE, MFU or its agents / service providers of any such possibility
Further, User agrees to indemnify, and shall at all times keep indemnified the mutual fund, Piggy, BSE, MFU, the Trustees / AMC, their officers, employees, successors and assigns from and against all actions, proceedings, claims and demands whatsoever for or on account of or in relation to any unauthorized use of the Piggy Platform, User Account and password, and from and against all damages, costs, charges and expenses in respect thereof or incidental thereto.
User shall indemnify Piggy, BSE MFU, Mutual Fund, AMC, Trustee, RTA and other intermediaries in case of any dispute regarding the eligibility, validity and authorization of your transactions.
Any notice or other correspondence addressed by Piggy to User may be addressed to the email address provided by the User at the time of enrolment. If according to User there is any discrepancy in the particulars or details of the transaction or statement of Account then, it shall be the responsibility of the User to intimate the same to Piggy and to the concerned mutual fund / AMC / authorized registrar of the AMC in writing within 7 (seven) working days of receiving notice thereof, failing which such transaction, statement of Account (as the case may be) shall be deemed to be correct and accepted by User and User shall not be entitled to question the correctness or accuracy thereof. Any notice, communication or documents required to be given by User to Piggy, may be given by personal delivery, courier, registered post at the registered office of Piggy, or by sending an email to firstname.lastname@example.org .
Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. Nothing in the Terms and Conditions or on the Piggy Platform 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.
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 Piggy portal and mobile application
6. You hereby irrevocably authorize Piggy, BSE, MFU and its agents / service providers, to act upon any electronic instructions given by you to Piggy, BSE or MFU through the UserAccount.
7. The Services rendered are 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 Piggy, BSE or MFU liable or responsible for any transactions undertaken under your Linked CANs.
8. Piggy, BSE and MFU reserve the right to make the Services rendered available for such investors / CAN holders as it deems appropriate
9. You agree that Piggy, BSE and MFU reserve the right to seek any additional information / confirmation (oral / written) as it may deem necessary to authenticate the transaction.
10. Piggy, BSE or MFU may, in its absolute discretion, suspend the Services rendered 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, any information submitted to Piggy / BSE / MFU / 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 Services.
12. Piggy, BSE and MFU only provide Services 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, BSE or MFU 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 SIDs and therefore submission of a transaction and time stamping at MFU or BSE 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, BSE and MFU and passed on to the specific AMC / Registrar and Transfer Agents ("RTA") who may at their sole discretion decide whether or not to process the transaction due to the pending KYC status and the User will not hold Piggy, BSE or MFU liable for such non-acceptance by the specified AMC / RTA.
14. Online transactions for CAN holders who have not provided additional KYC and under the Foreign Accounts Tax Compliance, Act (FATCA) are liable to be rejected.
15. You shall not use the Piggy Platform 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, 2014, The Prevention of Money Laundering Act, 2002, Foreign Exchange Management Act, 1999 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:-
All credits received into the MFU Escrow Account before 1.40 p.m. (for scheme cut-off of 2.00 p.m.) and 2.40 p.m. (for scheme cut-off time of 3.00 p.m.) will be transferred to the Scheme accounts by 2.00 p.m. and 3.00 p.m. respectively. In respect of credits to the MFU Escrow Account between 1.40 p.m. / 2.40 p.m. to the respective cut-off times, funds will be transferred to the Scheme accounts on a best effort basis
18. The time stamping for online transaction would be the MFU and BSE 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 modes that are available on the Piggy Platform to the Users are:
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. MFU and BSE will not be in a position to accept these transactions
23. Your payout proceeds, subject to deduction of exit load, securities transactions tax and tax deducted at source (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. Neither the AMC / Mutual Fund / Piggy / BSE nor MFU will be liable for any failure to act upon electronic instructions or to provide any services for any cause that is beyond the control of the AMC / mutual fund or Piggy / BSE / MFU.
26. Indemnity & No Warranties
You acknowledge that all the intellectual property on the Piggy Platform belongs to Piggy. You agree not to use the name, logo or mark of the Piggy, BSE or MFU 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.
The Services and all the online transactions carried out through the Piggy Platform are subject to the terms and conditions of the SIDs of the schemes of various mutual funds, read with the addenda issued from time to time.
The provision of the Piggy Platform 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.
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 applicable laws, rules and regulations issued by the Government of India relating to mutual funds and provision of online facility.
You have read and understood the contents of the respective SID(s), statement of additional information(s), key information memorandum(s), instructions and addenda issued by the respective mutual funds, including level of risk depicted by riskometer.
You are an eligible investor(s) as per the respective scheme related documents.
The Registered Investment Advisor (RIA) has disclosed to you all the commissions (in the form of trail commission or any other mode), payable to him / them for the different competing schemes of various mutual funds from amongst which the scheme(s) is / are being advised or recommended to you.
YOU HEREBY CONFIRM THAT YOU HAVE NOT BEEN OFFERED/COMMUNICATED ANY INDICATIVE PORTFOLIO AND/OR ANY INDICATIVE YIELD BY THE FUND/AMC/ITS DISTRIBUTOR FOR THIS INVESTMENT.