Terms of Service

Marketmind Research Pvt Ltd referred as RA, Research Analyst (pronounced: R-A) here after

1. Availing the research services

By accepting delivery of the research service, the client confirms that he/she has elected to subscribe the research service of the RA, Research Analyst (pronounced: R-A) at his/her sole discretion. RA, Research Analyst (pronounced: R-A) confirms that research services shall be rendered in accordance with the applicable provisions of the RA, Research Analyst (pronounced: R-A) Regulations.

2. Obligations on RA, Research Analyst (pronounced: R-A)

RA, Research Analyst (pronounced: R-A) and client shall be bound by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) Act and all the applicable rules and regulations of SEBI, Securities and Exchange Board of India (pronounced: SEE-bee), including the RA, Research Analyst (pronounced: R-A) Regulations and relevant notifications of Government, as may be in force, from time to time.

3. Client Information and KYC, Know Your Customer (pronounced: K-Y-C)

The client shall furnish all such details in full as may be required by the RA, Research Analyst (pronounced: R-A) in its standard form with supporting details, if required, a may be made mandatory by RAASB, Research Analyst Administration and Supervisory Body (pronounced: R-A-A-S-B)/SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) from time to time.

4. RA, Research Analyst (pronounced: R-A) shall collect, store, upload and check KYC, Know Your Customer (pronounced: K-Y-C) records

RA, Research Analyst (pronounced: R-A) shall collect, store, upload and check KYC, Know Your Customer (pronounced: K-Y-C) records of the clients with KRA, KYC Registration Agency (pronounced: K-R-A) as specified by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) from time to time.

Standard Terms of Service:

The consent of client shall be taken on the following understanding:

"I / We have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) (Research Analyst) Regulations, 2014, including the fee structure. I/We are subscribing to the research services for our own benefits and consumption, and any reliance placed on the research report provided by research analyst shall be as per our own judgement and assessment of the conclusions contained in the research report.

I/We understand that –

  • Any investment made based on the recommendations in the research report are subject to market risk.
  • Recommendations in the research report do not provide any assurance of returns.
  • There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report."

Declaration of the RA, Research Analyst (pronounced: R-A) that:

  • It is duly registered with SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) as an RA, Research Analyst (pronounced: R-A) pursuant to the SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) (Research Analysts) Regulations, 2014 and its registration details are: (registration number, registration date);
  • It has registration and qualifications required to render the services contemplated under the RA, Research Analyst (pronounced: R-A) Regulations, and the same are valid and subsisting;
  • Research analyst services provided by it do not conflict with or violate any provision of law, rule or regulation, contract, or other instrument to which it is a party or to which any of its property is or may be subject;
  • The maximum fee that may be charged by RA, Research Analyst (pronounced: R-A) is ₹1.51 lakhs per annum per family of client.
  • The recommendations provided by RA, Research Analyst (pronounced: R-A) do not provide any assurance of returns.

Additionally, if RA, Research Analyst (pronounced: R-A) is an individual, declaration that:

  • It is not engaged in any additional professional or business activities, on a whole-time basis or in an executive capacity, which interfere with/influence or have the potential to interfere with/influence the independence of research report and/or recommendations contained therein.

5. Consideration and mode of payment

The client shall duly pay to RA, Research Analyst (pronounced: R-A), the agreed fees for the services that RA, Research Analyst (pronounced: R-A) renders to the client and statutory charges, as applicable. Such fees and statutory charges shall be payable through the specified manner and mode(s)/ mechanism(s).

6. Risk factors

(A statement covering the standard risks associated with investment in securities to be added under this clause by the RA, Research Analyst (pronounced: R-A))

7. Conflict of interest

The RA, Research Analyst (pronounced: R-A) shall adhere to the applicable regulations/ circulars/ directions specified by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. (A statement covering the mandatory disclosures to be added under this clause by the RA, Research Analyst (pronounced: R-A).)

8. Termination of service and refund of fees

Disclosure that the RA, Research Analyst (pronounced: R-A) may suspend or terminate rendering of research services to client on account of suspension/ cancellation of registration of RA, Research Analyst (pronounced: R-A) by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) and shall refund the residual amount to the client. In case of suspension of certificate of registration of the RA, Research Analyst (pronounced: R-A) for more than 60 (sixty) days or cancellation of the RA, Research Analyst (pronounced: R-A) registration, RA, Research Analyst (pronounced: R-A) shall refund the fees, on a pro rata basis for the period from the effective date of cancellation/ suspension to end of the subscription period.

9. Grievance redressal and dispute resolution

Any grievance related to (i) non- receipt of research report or (ii) missing pages or inability to download the entire report, or (iii) any other deficiency in the research services provided by RA, Research Analyst (pronounced: R-A), shall be escalated promptly by the client to the person/employee designated by RA, Research Analyst (pronounced: R-A), in this behalf (RA, Research Analyst (pronounced: R-A) to provide name and e-mail ID of the designated person/employee). The RA, Research Analyst (pronounced: R-A) shall be responsible to resolve grievances within 7 (seven) business working days or such timelines as may be specified by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) under the RA, Research Analyst (pronounced: R-A) Regulations. RA, Research Analyst (pronounced: R-A) shall redress grievances of the client in a timely and transparent manner. Any dispute between the RA, Research Analyst (pronounced: R-A) and his client may be resolved through arbitration or through any other modes or mechanism as specified by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) from time to time.

10. Additional clauses

All additional voluntary clauses added by the RA, Research Analyst (pronounced: R-A) should not be in contravention with rules/ regulations/ circulars of SEBI, Securities and Exchange Board of India (pronounced: SEE-bee). Any changes in such voluntary clauses/document(s) shall be preceded by a notice of 15 days.

11. Mandatory notice

Clients shall be requested to go through Do's and Don'ts while dealing with RA, Research Analyst (pronounced: R-A) as specified in SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) master circular no. SEBI/HO/MIRSD-POD- 1/P/CIR/2024/49 dated May 21, 2024 or as may be specified by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) from time to time.

12. Most Important Terms and Conditions (MITC, Model Investment Terms and Conditions (pronounced: M-I-T-C))

RA, Research Analyst (pronounced: R-A) shall also disclose MITC, Model Investment Terms and Conditions (pronounced: M-I-T-C) as specified below to their clients. (MITC, Model Investment Terms and Conditions (pronounced: M-I-T-C) have been standardized by Industry Standards Forum (ISF, Industry Standards Forum (pronounced: I-S-F)) in consultation with SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) and RAASB, Research Analyst Administration and Supervisory Body (pronounced: R-A-A-S-B)).

  • These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA, Research Analyst (pronounced: R-A)) and RA, Research Analyst (pronounced: R-A) cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit RA, Research Analyst (pronounced: R-A) to execute any trade on their behalf.
  • The fee charged by RA, Research Analyst (pronounced: R-A) to the client will be subject to the maximum of amount prescribed by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee)/ Research Analyst Administration and Supervisory Body (RAASB, Research Analyst Administration and Supervisory Body (pronounced: R-A-A-S-B)) from time to time (applicable only for Individual and HUF, Hindu Undivided Family (pronounced: H-U-F) Clients).
    • The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA, Research Analyst (pronounced: R-A).
    • The fee limit does not include statutory charges.
    • The fee limits do not apply to a non-individual client / accredited investor.
  • RA, Research Analyst (pronounced: R-A) may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee); presently it is one quarter. In case of pre- mature termination of the RA, Research Analyst (pronounced: R-A) services by either the client or the RA, Research Analyst (pronounced: R-A), the client shall be entitled to seek refund of proportionate fees only for unexpired period.
  • Fees to RA, Research Analyst (pronounced: R-A) may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB, Research Analyst Administration and Supervisory Body (pronounced: R-A-A-S-B)).
  • The RA, Research Analyst (pronounced: R-A) is required to abide by the applicable regulations/ circulars/ directions specified by SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) and RAASB, Research Analyst Administration and Supervisory Body (pronounced: R-A-A-S-B) from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA, Research Analyst (pronounced: R-A) will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
  • Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA, Research Analyst (pronounced: R-A).
  • The RA, Research Analyst (pronounced: R-A) cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA, Research Analyst (pronounced: R-A)'s research services. All opinions, projections, estimates of the RA, Research Analyst (pronounced: R-A) are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
  • Any investment made based on recommendations in research reports are subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA, Research Analyst (pronounced: R-A) shall be as per the client's own judgement and assessment of the conclusions contained in the research report.
  • The SEBI, Securities and Exchange Board of India (pronounced: SEE-bee) registration, Enlistment with RAASB, Research Analyst Administration and Supervisory Body (pronounced: R-A-A-S-B), and NISM, National Institute of Securities Markets (pronounced: N-I-S-M) certification do not guarantee the performance of the RA, Research Analyst (pronounced: R-A) or assure any returns to the client.
  • For any grievances,
    • Step 1: the client should first contact the RA, Research Analyst (pronounced: R-A) using the details on its website or following contact details: (RA, Research Analyst (pronounced: R-A) to provide details as per 'Grievance Redressal / Escalation Matrix')
    • Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI, Securities and Exchange Board of India (pronounced: SEE-bee)'s SCORES, SEBI Complaints Redress System (pronounced: SCORES) platform at www.scores.sebi.gov.in
    • Step 3: The client may also consider the Online Dispute Resolution (ODR, Online Dispute Resolution (pronounced: O-D-R)) through the Smart ODR, Online Dispute Resolution (pronounced: O-D-R) portal at https://smartodr.in
  • Clients are required to keep contact details, including email id and mobile number/s updated with the RA, Research Analyst (pronounced: R-A) at all times.
  • The RA, Research Analyst (pronounced: R-A) shall never ask for the client's login credentials and OTPs for the client's Trading Account Demat Account and Bank Account. Never share such information with anyone including RA, Research Analyst (pronounced: R-A).

13. Optional Centralised Fee Collection Mechanism

RA, Research Analyst (pronounced: R-A) Shall provide the guidance to their clients on an optional 'Centralised Fee Collection Mechanism for IA and RA, Research Analyst (pronounced: R-A)' (CeFCoM) available to them for payment of fees to RA, Research Analyst (pronounced: R-A).